Search found 165 matches

by oilrig
Mon Apr 20, 2020 3:47 pm
Forum: Investing - Theory, News & General
Topic: Price of oil has collapsed; how will this impact the economy?
Replies: 108
Views: 8257

Re: Price of oil has collapsed; how will this impact the economy?

KSActuary wrote:
Mon Apr 20, 2020 3:27 pm
Energy prices should be materially higher in 2 - 3 years due to lack of exploration and shut in of poor performing wells.
They said this around 2015-2017 as well. Never happened.
by oilrig
Thu Apr 09, 2020 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Feeling stuck in career - what did you do to "unstuck" yourself?
Replies: 41
Views: 3685

Re: Feeling stuck in career - what did you do to "unstuck" yourself?

I will play devils advocate here. You have a Masters from Stanford, tech experience, live in Southern CA (HCOL), and in your early 30's. You should probably be making more money than you are now. Im around your age, with a crappy liberal arts degree from a mediocre state college, and I make the same...
by oilrig
Mon Mar 30, 2020 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Question about sign on bonus
Replies: 14
Views: 1002

Re: Question about sign on bonus

I've dealt with this working in HR, and as a new-hire employee that had to pay back a sign-on bonus for not fulfilling the terms. In my experience, its always been the after-tax amount that you have to pay back. In your case this would be $60k, not $100k. How can they expect you to pay back $100k, w...
by oilrig
Sun Mar 15, 2020 11:16 am
Forum: Investing - Theory, News & General
Topic: Should people STOP investing in favor of boosting their emergency funds?
Replies: 83
Views: 5547

Re: Should people STOP investing in favor of boosting their emergency funds?

I work for a water bottling company. Due to the corona virus our business is actually exploding since stores keep running out of bottled water. We’ve had to increase production like crazy to meet the demand. My boss said our jobs just became a lot safer because we need every single employee right no...
by oilrig
Mon Mar 02, 2020 9:52 am
Forum: Investing - Theory, News & General
Topic: The most valuable lesson in your investment career?
Replies: 87
Views: 4671

Re: The most valuable lesson in your investment career?

Often, the solution to a lot of personal financial issues is to make a lot more money, a whole lot more, all the while, don't increase spending and debt. Never ever ever give up trying. Even when staring down at the last 78 cents in your hand and having to decide to either buy a couple of donuts be...
by oilrig
Fri Feb 14, 2020 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Entry-Level Jobs with Pensions - What companies still offer pensions these days?
Replies: 155
Views: 12331

Re: Entry-Level Jobs with Pensions - What companies still offer pensions these days?

Around here (Houston, TX) I would say: 1. What companies are still offer pensions these days? Besides gov, most of the larger integrated energy companies in the area do. 2. What is usually the average number of years you need to work for a company before you qualify for a pension? Is it 10 years? 2...
by oilrig
Fri Feb 14, 2020 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Currently Employed-questions on applying for new job
Replies: 6
Views: 379

Re: Currently Employed-questions on applying for new job

Regardless of what you do, not having any work experience for the past 12 years + wanting to leave your job after 8 months is going to be a potential red flag for any employer. You need to work on fixing up your resume to explain the past 12 years. Were you doing any side jobs, volunteering, contrac...
by oilrig
Fri Feb 14, 2020 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Hand raising with impending layoffs
Replies: 21
Views: 3784

Re: Hand raising with impending layoffs

I'll share my experience. My megacorp was going through successive rounds of layoffs and I was asked if I wanted to volunteer since the next round was going to offer half the amount of severance per year. My boss told me I wasn't at risk for layoff. He had always been happy with my performance and ...
by oilrig
Thu Feb 13, 2020 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Hand raising with impending layoffs
Replies: 21
Views: 3784

Re: Hand raising with impending layoffs

I did this a few years ago when I was 32 years old. The company (oil company) I worked for was hurting due to low oil prices and seemed like every year there were layoffs. Finally the last year I was there they asked for volunteers. I was looking to leave anyway so I raised my hand and told my boss ...
by oilrig
Mon Feb 10, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Fun Side Income in Retirement?
Replies: 50
Views: 4279

Re: Fun Side Income in Retirement?

Im not retired but I drive Uber part time on the weekends as my "fun" side job. I really enjoy it, helps get me out of the apartment, meet some interesting people, I work whenever I want. I could see myself doing this more when Im semi-retired.
by oilrig
Thu Feb 06, 2020 2:26 pm
Forum: Personal Consumer Issues
Topic: New Grad with fashion design degree looking for job in that field
Replies: 99
Views: 3590

Re: New Grad with fashion design degree looking for job in that field

I know this is common sense, but has she talked to her classmates about some of the offers they received in fashion? Im sure they can point her in the right direction or try and help her get her foot in the door with one of their companies.
by oilrig
Tue Feb 04, 2020 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Not going on the last leg of the flight
Replies: 32
Views: 3445

Re: Not going on the last leg of the flight

I did this exact thing recently. I live in houston and took a return flight with United from Cancun to Canada, with a connection in houston. I just got off in houston and never made the Canada flight. It was much cheaper than booking a flight to houston directly. Nothing happened to me. As long as y...
by oilrig
Mon Feb 03, 2020 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Can I take advantage of CC sign-up bonus by keep opening new cards? Any risk or drawback?
Replies: 18
Views: 1661

Re: Can I take advantage of CC sign-up bonus by keep opening new cards? Any risk or drawback?

Almost all banks offer credit cards with sign-up bonus, which are mostly free cash (or points that generally equal to cash). Can I keep collecting bonus just by simply: opening a new CC account -- meet the bonus earning requirement -- enjoy the free cash -- close the CC (or just cut the card) -- op...
by oilrig
Sun Feb 02, 2020 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone ever use a career counselor/career coach?
Replies: 14
Views: 1829

Re: Anyone ever use a career counselor/career coach?

I am a recruiter and could probably provide a lot of guidance/advice to you if I was in your location and industry. I would suggest finding a local recruiter who specializes in your industry. They could probably help you out a lot more than a career coach who probably doesn’t know a lot about your i...
by oilrig
Thu Jan 30, 2020 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9616

Re: Daughter's Boston Job Offer

I have two daughters. They are accountants not engineers. We encouraged our daughters to counter their first job offer. Both did and their counters were accepted. Most women generally make less than their male peers. A counter of 4-6% is generally accepted. The important task learned in this whole ...
by oilrig
Wed Jan 29, 2020 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Daughter's Boston Job Offer
Replies: 115
Views: 9616

Re: Daughter's Boston Job Offer

I dont think Ive seen this mentioned, but has she asked her classmates/friends about their starting salaries? Typically classmates will compare their offers to make sure everyone is getting paid the market rate. That should let her know how her offer compares to other companies in the area. I work i...
by oilrig
Thu Jan 09, 2020 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: JPM Chase Reserve Card gets more expensive
Replies: 407
Views: 33637

Re: JPM Chase Reserve Card gets more expensive

membership fee raised from $450 to $550, with additional benefit. This was all started by Amex Plat, whereby they raised from 450 to 550. Citi prestige followed. Then Chase. Economy is doing well, and they have too many cardholders as it is. Amex Platinum is almost free: - 200 Uber credits, - 200 a...
by oilrig
Mon Dec 16, 2019 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Gifts to your employees- how much?
Replies: 113
Views: 7285

Re: Gifts to your employees- how much?

During my 12 years of working I've never received a gift but have been hit up for money for gifts for others. If I decide to keep working once I hit my number I will gladly say "no" to these requests and not worry about any repercussions/hurt feelings. LOL I used to work for a company that did this...
by oilrig
Thu Dec 12, 2019 2:19 pm
Forum: Investing - Theory, News & General
Topic: Retiring at 24 - Extreme FIRE is it possible?
Replies: 158
Views: 13625

Re: Retiring at 24 - Extreme FIRE is it possible?

I agree with the poster who said that when people say theyre FIRE'd, what they really mean is they quit the corporate world and are now doing other things to provide income. Im 34, 600k net worth, make a decent six figure salary. I also, have 4-5 side hustles that bring in a nice little extra income...
by oilrig
Wed Dec 04, 2019 12:36 pm
Forum: Investing - Theory, News & General
Topic: Favorite stock(s) and why
Replies: 131
Views: 8408

Re: Favorite stock(s) and why

I love big oil stocks: BP and Shell (RDS.B). Both are around 6.5% dividend and "stable" for oil stocks.
by oilrig
Wed Nov 20, 2019 8:58 am
Forum: Personal Finance (Not Investing)
Topic: College for average kids
Replies: 126
Views: 14928

Re: College for average kids

I know of several cases of kids that weren't academic stars doing very well financially and enjoying non college based careers. One with a good personality dropped out of college and sold/serviced medical equipment. The other never went to college and became an electrician. Our state has county bas...
by oilrig
Mon Nov 18, 2019 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: At What Point Did You Realize You Made It?
Replies: 48
Views: 8620

Re: At What Point Did You Realize You Made It?

Im 34, single, with around $600k net worth. I still dont feel like Ive made it lol. Ive had a few minor medical bills come up (around $1000) and it stresses me out more than it should, even though my dividends will easily cover it. I still stress about money, although Ive loosened up a little bit in...
by oilrig
Mon Nov 11, 2019 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Job negotiation 101?
Replies: 14
Views: 1035

Re: Job negotiation 101?

In negotions, try and avoid being the first one to share a number. So, as phase one, I would say something like "I view pay as just one of the parts of the compensation package, so I'm hesitatnt to talk salary until I have a better understanding of all of the benefits..." and then use that as a jum...
by oilrig
Tue Nov 05, 2019 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Dumb Question [How to calculate total account value]
Replies: 9
Views: 1080

Re: Vanguard Dumb Question [How to calculate total account value]

Were you putting new money in any months? Put in $5k, take out $2k in dividends. Net +$3k. Did you go look at the "Table view" in personal performance? It doesn't get much clearer than that view. It is a little Drop-Down selector. The detail of every month since you joined Vanguard is in that view....
by oilrig
Tue Nov 05, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Dumb Question [How to calculate total account value]
Replies: 9
Views: 1080

Re: Vanguard Dumb Question

Have you always taken dividends as cash and transferred outside of Vanguard? Any income removed from your Vanguard account should not be counted in total account balance. If all income was always transferred outside of your account, the account balance should equal contributions + market gains. For...
by oilrig
Tue Nov 05, 2019 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Dumb Question [How to calculate total account value]
Replies: 9
Views: 1080

Re: Vanguard Dumb Question

Go to Personal Performance and then View the Table. It should all be summarized for each period. Ins/outs/gains/losses/income. Are the dividends being sent out to your checking account for spending or going to another account at Vanguard (Like Roth IRA)? Yes, the dividends are being sent to my exte...
by oilrig
Tue Nov 05, 2019 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Dumb Question [How to calculate total account value]
Replies: 9
Views: 1080

Vanguard Dumb Question [How to calculate total account value]

I have a dumb question about Vanguard and my total account value. My Vanguard brokerage account says I have a total account balance of $298,623 as of today with $53,537 of that coming from total returns ($36,126 market gain + $17,411 income return). A total of $245,085 came from my original purchase...
by oilrig
Tue Oct 29, 2019 10:51 am
Forum: Personal Finance (Not Investing)
Topic: AMEX Platinum Card - Review?
Replies: 47
Views: 3306

Re: AMEX Platinum Card - Review?

I found Uber credits to be difficult. I am in NYC so rarely use Uber in general but when I do, with all the new surcharges, it always come out to be more than $15 (closer to 20 most of the time) even for short distances in Manhattan. And I find it very annoying that then I would have to add the min...
by oilrig
Tue Oct 22, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Anyone work in Compensation/Benefits? (Math teacher looking for a career switch)
Replies: 26
Views: 2239

Re: Anyone work in Compensation/Benefits? (Math teacher looking for a career switch)

Part of my issue is that unlike most teachers in the U.S., my salary here in NY is relatively high (I bring in close to $120K and probably closer to 150K with my union-related work and my tutoring side-business), and I am wondering if there is anyway possible around a humongous paycut? Thanks so mu...
by oilrig
Tue Oct 22, 2019 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Anyone work in Compensation/Benefits? (Math teacher looking for a career switch)
Replies: 26
Views: 2239

Re: Anyone work in Compensation/Benefits? (Math teacher looking for a career switch)

I think you could make the switch but you would probably have to start out at the bottom as an entry-level Compensation/Benefits Coordinator or Admin and work your way up. The problem is that these jobs typically start out around $40-60k/year, so you would have to take a huge pay cut. Also, keep in ...
by oilrig
Thu Oct 03, 2019 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Willingly going from lucrative job to unemployed?
Replies: 132
Views: 15423

Re: Willingly going from lucrative job to unemployed?

I have another suggestion: Look for another highly compensated tech job, preferably one where you know a few people. Be VERY picky in which offer you take, make sure its the right culture/boss, not too much work or hours, and see if you can find out what its like to work there from a friend or forme...
by oilrig
Wed Oct 02, 2019 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Willingly going from lucrative job to unemployed?
Replies: 132
Views: 15423

Re: Willingly going from lucrative job to unemployed?

OP, I think you will be fine. Most bogleheads on here are assuming you will quit and never work another day in your life. For you to be so young and with a high net worth, you must be very bright and industrious. Im sure opportunities will come your way regardless: it might be consulting, part time ...
by oilrig
Tue Oct 01, 2019 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: How to find the best credit card promotion?
Replies: 47
Views: 4184

Re: How to find the best credit card promotion?

Chase sapphire preferred. 600 cash back or 60k miles. 95 fee Sapphire Preferred and Citi Premier appear to have identical offers of 60000 miles for $600 cash back abs $95 annual fee. They also both require $4000 spent in 90 days. Can anyone help me break this tie? Which do I get? https://www.chase....
by oilrig
Mon Sep 30, 2019 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Repaying relocation
Replies: 28
Views: 1473

Re: Repaying relocation

No need to bring this up with the company ahead of time I have left two companies within the signing bonus payback period. In neither case did the company ever reach out to claw back those bonuses. This is bad advice. I have had a company go after me to pay back a sign-on bonus after I left within ...
by oilrig
Wed Sep 18, 2019 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads in Oil and Gas?
Replies: 38
Views: 3419

Re: Bogleheads in Oil and Gas?

One good piece of advice that has always served me well in oil and gas is: "The closer you are to the wellhead, the less replaceable you are." I noticed this during the last downturn. I work in a support function but was living and working in North Dakota at the time. All of my coworkers on my team ...
by oilrig
Wed Sep 18, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads in Oil and Gas?
Replies: 38
Views: 3419

Re: Bogleheads in Oil and Gas?

I worked for about 8 years in oil and gas and most recently left for a more stable industry. I absolutely loved the oil industry, the people I worked with, and the complexities of the industry. Also, the pay and benefits were great. I basically went from zero net worth to $500k in 5 years. I am eter...
by oilrig
Mon Sep 09, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Help me out - What am I doing wrong - Job Hunt related
Replies: 70
Views: 5368

Re: Help me out - What am I doing wrong - Job Hunt related

Maybe they could sense that you weren't truly interested or excited about the job? I do a lot of hiring for my company, and its pretty easy to tell which candidates REALLY want the job, and which ones are just kind of interviewing for more money. If you have a good relationship with the other compan...
by oilrig
Thu Sep 05, 2019 12:04 pm
Forum: Personal Investments
Topic: Looking for stream of dividends
Replies: 61
Views: 5691

Re: Looking for stream of dividends

usagi wrote:
Thu Sep 05, 2019 11:58 am
oilrig wrote:
Thu Sep 05, 2019 11:30 am
My personal rule for dividends is if its less than a 3% dividend, then I would rather invest
What does that mean?
If a stock pays less than a 3% dividend, then I do not invest in it.
by oilrig
Thu Sep 05, 2019 11:30 am
Forum: Personal Investments
Topic: Looking for stream of dividends
Replies: 61
Views: 5691

Re: Looking for stream of dividends

If you are looking for relatively safe/reliable dividends, look at some of the oil majors and telecom stocks. BP, Shell, and AT&T are around 6% dividend right now. I look forward to those juicy dividends coming in every quarter :) With all due respect to oilrig, I would suggest not following this a...
by oilrig
Thu Sep 05, 2019 11:29 am
Forum: Personal Investments
Topic: Looking for stream of dividends
Replies: 61
Views: 5691

Re: Looking for stream of dividends

If you are looking for relatively safe/reliable dividends, look at some of the oil majors and telecom stocks. BP, Shell, and AT&T are around 6% dividend right now. I look forward to those juicy dividends coming in every quarter :) With all due respect to oilrig, I would suggest not following this a...
by oilrig
Wed Sep 04, 2019 3:14 pm
Forum: Personal Investments
Topic: Looking for stream of dividends
Replies: 61
Views: 5691

Re: Looking for stream of dividends

If you are looking for relatively safe/reliable dividends, look at some of the oil majors and telecom stocks. BP, Shell, and AT&T are around 6% dividend right now. I look forward to those juicy dividends coming in every quarter :)
by oilrig
Mon Sep 02, 2019 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: When was the most stressful financial time in your life?
Replies: 142
Views: 22998

Re: When was the most stressful financial time in your life?

A week after I graduated college I got a DWI. A few days later I moved back home and was forced to live with my mom. I had a few months to pay several thousand dollars in lawyer fees, plus I had to start paying back student loans. I also needed one more community college class to graduate since it w...
by oilrig
Mon Aug 26, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 8878

Re: How to help an employee who is in debt and requesting a loan

In the past when friends/acquaintances have asked me for money, I lied and said that I recently made a big purchase and was short on cash at the moment. Technically it was true, since I had just gone on vacation or something like that, but I did have excess funds I could have loaned them. I haven't ...
by oilrig
Fri Aug 23, 2019 10:28 am
Forum: Personal Finance (Not Investing)
Topic: High Yield Online Account
Replies: 6
Views: 535

Re: High Yield Online Account

Ive been using Barclays for years and love them. They just dropped to a 2.10% rate, which is still competitive. They have a very easy/simple interface, and the transfers are typically pretty fast. I could switch to a higher yielding account but Im very comfortable with Barclays so why switch.
by oilrig
Thu Aug 22, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: White collars- How much is your work downtime?
Replies: 203
Views: 18661

Re: White collars- How much is your work downtime?

There was a similar thread over on the MMM forums, and one response in general that I always get a chuckle out of. The poster stated that when it was his significant other's turn to bring donuts to a meeting, she would e-mail all the meeting participants for their donut preference, jot down the res...
by oilrig
Mon Aug 19, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone retire in their 30s?
Replies: 108
Views: 14977

Re: Anyone retire in their 30s?

OP, I am in the same situation as you. I am 34, single, no debt, low expenses, 550k net worth (will be about 600k at end of year). I am so burnt out in my job/career. I've tried switching companies several times with no luck, the burnt out feeling persists. A vacation does no help because I still h...
by oilrig
Mon Aug 19, 2019 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Anyone retire in their 30s?
Replies: 108
Views: 14977

Re: Anyone retire in their 30s?

OP, I am in the same situation as you. I am 34, single, no debt, low expenses, 550k net worth (will be about 600k at end of year). I am so burnt out in my job/career. I've tried switching companies several times with no luck, the burnt out feeling persists. A vacation does no help because I still ha...
by oilrig
Wed Aug 14, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: "Negotiating" Salary
Replies: 74
Views: 6140

Re: "Negotiating" Salary

A lot of the negotiating methods listed above would scare off potential companies, recruiters, and hiring managers. Playing coy about your desired salary will only make you come across as difficult and indecisive, also potentially not interested in the job. I think being upfront and honest in the re...
by oilrig
Wed Aug 14, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: "Negotiating" Salary
Replies: 74
Views: 6140

Re: "Negotiating" Salary

Im an HR Recruiter and have worked at several mega-corp fortune 500's. We ALWAYS try to get the candidate's salary expectations before setting them up for an interview. I dont care if they tell me their current salary or what range they're looking for, we just need something to go off of to make sur...
by oilrig
Fri Aug 09, 2019 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Best way to regularly (auto) e-Transfer funds to someone else’s bank account?
Replies: 16
Views: 1235

Re: Best way to regularly (auto) e-Transfer funds to someone else’s bank account?

I use Venmo a lot to send money to friends and family. Very easy to use, no fees, no issues so far!