Search found 82 matches

by financeguy88
Sun Nov 03, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1422
Views: 373984

Re: Share your net worth progression

2013 (Graduated): Basically zero, cash in an account and student loans from undergrad. Jumped in with a start up (non tech) didn't work got a corp job. 2014: 32K 2015: 97K 2016: 238K 2017: 359K 2018: 468K 2019: 604K My strategy has been to live cheap but enjoy the simple pleasures. I am married so ...
by financeguy88
Sat Nov 02, 2019 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1422
Views: 373984

Re: Share your net worth progression

2006: -25k (graduated college, owed parents money for a car, got a job in investment banking) 2007: 75k (moved to a direct investing role, performed well) 2008: 250k 2009: 650k 2010: 700k (left a good role to help start a company, bad career move in hindsight) 2011: 725k 2012: 750k 2013: 1.1M (chang...
by financeguy88
Sun Aug 04, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Do you rent even if you can afford to buy?
Replies: 131
Views: 24677

Re: Do you rent even if you can afford to buy?

I am probably an extreme example of this as I have rented for my whole adult life and my wife and I came close to buying recently but decided to rent, even with a child on the way. The location and type of place that we want to live in right now in NYC I don't think is a good investment -- I think m...
by financeguy88
Fri May 31, 2019 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 41549

Re: For those who earn $500k+ per year. How'd you do that?

Wife makes ~500k at a mega law firm (market bonuses move it around a bit). She did it by going to a top college and a top law school and working all the time. 100 hour weeks pretty regularly. She's a workaholic. I followed the same path and bowed out before partnership and now make ~150k as a publi...
by financeguy88
Thu May 30, 2019 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29222

Re: Can I afford this 2.3 million dollar home?

As others have indicated it all comes down to how stable your income stream will be in your current location. If it is very stable it seems like a clear yes, but if there is even a 3% chance that it isn’t stable I would just hold off and wait to accumulate a bit more assets. If something happened a...
by financeguy88
Thu May 30, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29222

Re: Can I afford this 2.3 million dollar home?

As others have indicated it all comes down to how stable your income stream will be in your current location. If it is very stable it seems like a clear yes, but if there is even a 3% chance that it isn’t stable I would just hold off and wait to accumulate a bit more assets. If something happened a...
by financeguy88
Thu May 30, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29222

Re: Can I afford this 2.3 million dollar home?

As others have indicated it all comes down to how stable your income stream will be in your current location. If it is very stable it seems like a clear yes, but if there is even a 3% chance that it isn’t stable I would just hold off and wait to accumulate a bit more assets. If something happened a...
by financeguy88
Thu May 30, 2019 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29222

Re: Can I afford this 2.3 million dollar home?

As others have indicated it all comes down to how stable your income stream will be in your current location. If it is very stable it seems like a clear yes, but if there is even a 3% chance that it isn’t stable I would just hold off and wait to accumulate a bit more assets. If something happened an...
by financeguy88
Mon May 13, 2019 8:00 pm
Forum: Personal Consumer Issues
Topic: Park City Utah Hiking
Replies: 26
Views: 1960

Re: Park City Utah Hiking

Another vote for Timpanagos but there will likely be some snow at least on the final ridge unless there is some warm weather so if you're adventurous then at least bring some walking sticks. If you're not from a higher altitude I wouldn't do it until at least your 3rd day in Park City to give time t...
by financeguy88
Sun May 12, 2019 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Buy or keep renting in Manhattan?
Replies: 46
Views: 8506

Re: Buy or keep renting in Manhattan?

OP The LES one can get a two or three bedroom coop apartment between 800K to $1,200,000 if your looking higher, your market seems to be luxury. https://www.lohorealty.com/ Ok, I'll bite. We're focused on getting 2,000 to 2,500 sq ft...and also live in a halfway decent public school area. The 1.2M 3...
by financeguy88
Sat May 11, 2019 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Buy or keep renting in Manhattan?
Replies: 46
Views: 8506

Re: Buy or keep renting in Manhattan?

I stumbled upon this thread from a while ago and it was interesting to read, because I find myself in a similar very fortunate situation as OP (my wife and I are early / mid 30's, high income and assets but less than OP, and no kid, but one on the way very soon). We have decided to continue to live ...
by financeguy88
Sun Mar 24, 2019 7:40 am
Forum: Personal Investments
Topic: High Tax bracket strategies
Replies: 49
Views: 5881

Re: High Tax bracket strategies

For those in the highest tax bracket - what additional strategies do you use? Obviously max out retirement accounts, 529, backdoor ,etc. Use munis in taxable instead Consider using index value fund in tax deferred, and index growth stock fund in taxable (lower dividend) Consider more bonds in taxab...
by financeguy88
Sun Mar 24, 2019 7:33 am
Forum: Personal Consumer Issues
Topic: Moving from NYC to Miami
Replies: 18
Views: 2152

Re: Moving from NYC to Miami

I have the option over the next 6 to 9 months of moving from NYC to Miami (probably South Beach) because my company has an office in both places. My wife and I are early 30's, we're expecting our first child later this year and we're happy in New York overall, but there are some things I don't love...
by financeguy88
Sun Mar 24, 2019 7:16 am
Forum: Personal Consumer Issues
Topic: Moving from NYC to Miami
Replies: 18
Views: 2152

Re: Moving from NYC to Miami

I currently live in South of Fifth (Sofi) in Miami Beach. Great neighborhood, great restaraunts, close to the beach but not as chaotic as the flamingo park, Ocean Dr, or West Ave portion of South Beach. PM me if you have specific questions. Thanks for the response, yes that's been my impression fro...
by financeguy88
Fri Mar 22, 2019 9:10 am
Forum: Personal Consumer Issues
Topic: Moving from NYC to Miami
Replies: 18
Views: 2152

Re: Moving from NYC to Miami

ResearchMed wrote:
Fri Mar 22, 2019 8:26 am
And you'd rent first, right?

Gives you more time to sort through "which neighborhood", etc.
Also could save money IF you decide to move back after a relatively short time.

RM
Yes would definitely rent / lease the cars as well until we got our bearings.
by financeguy88
Fri Mar 22, 2019 8:20 am
Forum: Personal Consumer Issues
Topic: Moving from NYC to Miami
Replies: 18
Views: 2152

Re: Moving from NYC to Miami

Presumably you are living an urban lifestyle and not sure if you plan or want to live that in South Beach as well. Also 'South Beach' is more or less a tourist moniker and that zone wouldn't be the most pleasant place in which to reside IMO. It's the epicenter of what people love or loathe about th...
by financeguy88
Thu Mar 21, 2019 8:29 pm
Forum: Personal Consumer Issues
Topic: Moving from NYC to Miami
Replies: 18
Views: 2152

Moving from NYC to Miami

I have the option over the next 6 to 9 months of moving from NYC to Miami (probably South Beach) because my company has an office in both places. My wife and I are early 30's, we're expecting our first child later this year and we're happy in New York overall, but there are some things I don't love ...
by financeguy88
Tue Mar 05, 2019 1:16 pm
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

You are wrong that private pensions use lower discount rates that "mirror the risk-free rate." Private pensions assume similarly high returns that require equity price appreciation. On the contrary, what I said before appears to be exactly correct: Statement of Financial Accounting Standards No. 87...
by financeguy88
Tue Mar 05, 2019 6:54 am
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

The point of my original post was to say that without asset appreciation the system does "break down", which means if you don't believe in asset appreciation over time you are betting on a major disruptive event in the US You are reversing the causality. It runs this way: When there is a systemic b...
by financeguy88
Tue Mar 05, 2019 6:49 am
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

For a simple example, the average pension system in the US is assuming roughly a 7% return. The average public pension system. So if I'm reading you correctly, the core of your argument is that either stocks will continue to rise or several states and municipalities will have pension crises. That s...
by financeguy88
Mon Mar 04, 2019 9:56 pm
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

For a simple example, the average pension system in the US is assuming roughly a 7% return. The average public pension system. So if I'm reading you correctly, the core of your argument is that either stocks will continue to rise or several states and municipalities will have pension crises. That s...
by financeguy88
Mon Mar 04, 2019 8:48 pm
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

I don't think that systemic breakdown is overstating things. If 'the system breaking down' means socio-political chaos your formulation is questionable IMO. Japan has seen a long period of very poor returns in domestic risk assets since the 1980's, and as that period dragged on, govt bond yields al...
by financeguy88
Sun Mar 03, 2019 2:35 pm
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

In addition, the US market is special in that we require the stock market to appreciate to fund actual liabilities of retirees and pensioners, unlike other countries. Thus our economic system doesn't functionally work without a rising stock market. Thus if you are betting against the stock market g...
by financeguy88
Sun Mar 03, 2019 11:15 am
Forum: Personal Consumer Issues
Topic: Satellite Phone rental for foreign travel
Replies: 23
Views: 1750

Re: Satellite Phone rental for foreign travel

Hello, I am a long-timr lurker, and this is my first post. We travel internationally one or twice a year for 3 to 6 weeks at a time. The foreign SIMs in our iPhones are not always reliable (low signal, poor connections), so I have been thinking of renting an Iridium satellite phone, that appears to...
by financeguy88
Sun Mar 03, 2019 9:09 am
Forum: Investing - Theory, News & General
Topic: “Market Always Goes Up” defense without past performance
Replies: 143
Views: 9852

Re: “Market Always Goes Up” defense without past performance

Virtually all of the advice here seems to be based on past performance. “You should have just done Sp500 instead of tried to time the market, since that did better.” Looking at the Nikkei 255 for instance, it seems evident to me that markets do not in fact always go up. And so I’m struggling to und...
by financeguy88
Sun Dec 02, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Rent v. buy in NYC
Replies: 34
Views: 4030

Re: Rent v. buy in NYC

Married, 2 kids and renting in Manhattan. I hate the idea of "throwing away" money on rent. When analyzing it: can I treat rent the same as maintenance, taxes, and interest if I were to buy? For example, paying $5,400/month in rent. Looking at an apartment to buy with a monthly maintenance/taxes of...
by financeguy88
Sun Aug 26, 2018 6:48 am
Forum: Personal Finance (Not Investing)
Topic: rent vs buy 'luxury' condo in HCOL area
Replies: 10
Views: 1395

Re: rent vs buy 'luxury' condo in HCOL area

Dual income family here living a HCOL city. When we initially moved here a couple of years ago we decided to rent a very nice condo in a building with lot of nice amenities. We thought we would eventually move to a single family, but we have come to appreciate life in a condo, and since we both are...
by financeguy88
Thu Aug 16, 2018 1:22 pm
Forum: Investing - Theory, News & General
Topic: Fidelity 401(k) millionaires hits record high
Replies: 48
Views: 6174

Re: Fidelity 401(k) millionaires hits record high

This is when I start kicking myself for not being able to invest until THIS YEAR :oops: Don't get too down, they did say the 168,000 people were " exclusive group of savers is still just a fraction of the 16.1 million people who have a 401(k) account managed by the fund company " I was curious what...
by financeguy88
Wed Aug 15, 2018 4:13 pm
Forum: Investing - Theory, News & General
Topic: Why are 1yr Treauries paying more than 1yr brokered CDs?
Replies: 13
Views: 1383

Re: Why are 1yr Treauries paying more than 1yr brokered CDs?

I recently moved a lot of cash to treasuries. It is a no brainer, the banks are capitalizing on laziness / folks lack of understanding of fixed income trading. Another positive of treasuries other than no state tax and high liquidity is that they are risk free to any amount so you don’t need to monk...
by financeguy88
Mon Aug 13, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Mid 30s Crisis: Personal budget, savings and goals
Replies: 36
Views: 7741

Re: Mid 30s Crisis: Personal budget, savings and goals

My synopsis is that you don't have enough to FIRE based on current living situation and feel insecure about your job / career prospects and worry if you get laid off you won't be able to find a similarly paying job. Working in a volatile area myself I can somewhat relate to the high net worth / high...
by financeguy88
Sat Aug 11, 2018 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Biggest Threats to Financial Well-Being
Replies: 99
Views: 10087

Re: Biggest Threats to Financial Well-Being

For me leaving a really great career situation to go into business with someone who just wasn’t a good person. Was a financial disaster and probably took years off my life in stress. If there is a lesson it’s never work at a small company with someone who has serious personality red flags and also b...
by financeguy88
Sun Jul 29, 2018 8:22 pm
Forum: Personal Investments
Topic: 7-8% SWR/year for first 7 years of Retirement...am I good?
Replies: 22
Views: 2855

Re: 7-8% SWR/year for first 7 years of Retirement...am I good?

How much risk is there of a bankruptcy or significant restructuring / benefit cut? If I were pursuing this plan I’d build in a good sized cushion to assume that the pensions don’t keep up with inflation with a higher or lower cushion depending on the credit quality of the pension counterparty / how ...
by financeguy88
Sat Jul 28, 2018 4:31 am
Forum: Investing - Theory, News & General
Topic: Passive Index Investing, A Bubble Bound To Burst?
Replies: 115
Views: 13474

Re: Passive Index Investing, A Bubble Bound To Burst?

Index investors buy stocks at the prevailing rate. If (and that’s a big if) stocks are mispriced, that’s on those doing the day to day trading. The fair question to ask is at what point do flows into passive vehicles become so significant that they actually create mispricings in the underlying secu...
by financeguy88
Fri Jul 27, 2018 11:23 am
Forum: Personal Consumer Issues
Topic: Tips for staying active / injury-free into older age
Replies: 162
Views: 16012

Re: Tips for staying active / injury-free into older age

Op here, wow this is a lot of great responses. To be clear I wasn’t saying mid-50s was “old.” I picked that somewhat arbitrarily because I read that this is the age where even very dedicated runners can’t keep it up without lots of injuries. I myself used to just run but I only do light jogs one or ...
by financeguy88
Fri Jul 27, 2018 6:47 am
Forum: Personal Consumer Issues
Topic: Tips for staying active / injury-free into older age
Replies: 162
Views: 16012

Tips for staying active / injury-free into older age

I'm interested in hearing tips from bogleheads who have managed to stay active and healthy into older ages (mid 50s and older). Essentially asking what is the right balance of staying active but not pushing too much and what things help to stay injury free? I'm only in my mid 30's now and have been ...
by financeguy88
Fri Jul 27, 2018 5:42 am
Forum: Personal Investments
Topic: Biggest financial decision of my life: selling a big wad of options
Replies: 46
Views: 5802

Re: Biggest financial decision of my life: selling a big wad of options

Wow, what a thread. OP, I really do hope your company isn't Facebook. The advice to take half off the table immediately is great. Twice as great advice would be to take it all of the table immediately. Imagine you had this money in cash. Would you ever for a second think of buying your company's st...
by financeguy88
Tue Jul 17, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: High Income earners, whats your Tax Strategy?
Replies: 122
Views: 20009

Re: High Income earners, whats your Tax Strategy?

This year the answer appears to be: make a lot less money.

If you can structure your employment as a partnership somehow then a world of tax saving opportunities open up. Everything else that you can do without crossing into ethical / legal gray area is pretty much peanuts.
by financeguy88
Tue Jul 17, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Families - What's your total annual credit card spend?
Replies: 92
Views: 8418

Re: Families - What's your total annual credit card spend?

Wife and I spend is high but there tends to be highly discretionary “one-time” things. last year getting married I put a lot of the wedding / honeymoon on my card. This year it was some expensive tickets for a special sporting event and a decision to give a sizeable charitable donation. Taking out t...
by financeguy88
Thu Jul 12, 2018 8:56 pm
Forum: Personal Investments
Topic: When can I retire? Where to go from here?
Replies: 19
Views: 4175

Re: When can I retire? Where to go from here?

Hi Bogleheads, I wanted to check in for a financial checkup as my wife and I have just completed major career transitions. This post is not a “humble brag”, I am truly looking for advice and or reassurance that I am doing the right thing. I have always handled the financials by myself and that can ...
by financeguy88
Thu Jul 12, 2018 7:20 am
Forum: Personal Investments
Topic: When can I retire? Where to go from here?
Replies: 19
Views: 4175

Re: When can I retire? Where to go from here?

Hi Bogleheads, I wanted to check in for a financial checkup as my wife and I have just completed major career transitions. This post is not a “humble brag”, I am truly looking for advice and or reassurance that I am doing the right thing. I have always handled the financials by myself and that can ...
by financeguy88
Tue Jun 26, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: $1 million house--- sanity check
Replies: 105
Views: 14728

Re: $1 million house--- sanity check

Well actually, a $950,000 house. I had no plans of moving until this incredible deal popped up in our neighborhood where we want to stay living forever. We live in an increasingly HCOL area in NorCal. Some quick details on our situation. -My wife (29 years old) and I (31 years old) have no kids, bu...
by financeguy88
Sun Jun 24, 2018 5:58 am
Forum: Personal Consumer Issues
Topic: When did you start flying business class?
Replies: 155
Views: 14566

Re: When did you start flying business class?

For a short time we flew sales to Europe in business class but then economy fares started hitting $300-400 per person, round trip. I can also often find routings with some better than average coach seats like row 45 on Lufthansa's 747-8. There are also some relatively frequent $2,000-2500 RT flight...
by financeguy88
Sat Jun 23, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Career Burn Out: Should I quit high paying job and take a sabbatical?
Replies: 55
Views: 7693

Re: Career Burn Out: Should I quit high paying job and take a sabbatical?

I am looking for advice or suggestions on what posters would do in my situation. For background purposes: I am early 30's, single, no kids, no debt and $460k net worth (The majority is liquid in taxable account: 3 fund portfolio, some individual stocks, and cash). So here's my situation; I am prett...
by financeguy88
Sat Jun 23, 2018 7:31 pm
Forum: Personal Consumer Issues
Topic: When did you start flying business class?
Replies: 155
Views: 14566

Re: When did you start flying business class?

For longer domestic flights the price gap often isn’t that significant and I do it about half the time if I can find a good deal. Domestic flights are a different ballgame. With the exception of a few routes (e.g. between JFK/Newark and some west coast cities), the "first class" product isn't reall...
by financeguy88
Sat Jun 23, 2018 7:15 pm
Forum: Personal Consumer Issues
Topic: When did you start flying business class?
Replies: 155
Views: 14566

Re: When did you start flying business class?

To BHs who regularly fly business class, when did you start? Was it after you reached a certain age? Reached a certain net worth? Was it worth it, in your opinion? My wife and I are in our early 40s. We will be travel to Asia soon. My MIL gently suggested flying biz class. I just couldn’t justify p...
by financeguy88
Fri Jun 22, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Ways to Protect Assets Without a Prenup
Replies: 69
Views: 8028

Re: Ways to Protect Assets Without a Prenup

bsteiner wrote:
Fri Jun 22, 2018 6:33 pm
by financeguy88
Fri Jun 22, 2018 4:02 am
Forum: Personal Finance (Not Investing)
Topic: Ways to Protect Assets Without a Prenup
Replies: 69
Views: 8028

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