Search found 156 matches

by DC3509
Mon Apr 23, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Lawyers: Career Advice (Urban to Rural?)
Replies: 21
Views: 2108

Re: Lawyers: Career Advice (Urban to Rural?)

So, I grew up in a very small town, and now also live in DC and work as an attorney. Growing up, some of my friends had parents who were attorneys in town, and my mom had some intersection with the justice system in her career, so I feel like I know something about this. As others have mentioned, sm...
by DC3509
Mon Apr 16, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes Question -- Help!
Replies: 14
Views: 1013

Re: Estimated Taxes Question -- Help!

...so now I have a major mess on my hands. Do you really have a "major mess" or is the only problem that you didn't know estimated payments were made April, June, September and January? I would think you could somehow adjust your cash flow or borrow from Peter to pay Paul in order to make the four ...
by DC3509
Mon Apr 16, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes Question -- Help!
Replies: 14
Views: 1013

Re: Estimated Taxes Question -- Help!

1.) What advice can you give me about how to balance out this cash flow issue? I keep running numbers over and over and it just seems like there is no way to slice or dice it other than you have this shortfall in the second quarter, but then a windfall in the final quarters. How do people smooth th...
by DC3509
Mon Apr 16, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes Question -- Help!
Replies: 14
Views: 1013

Re: Estimated Taxes Question -- Help!

All, So I have been seething for the last 12 hours about some VERY unexpected tax problems. I would appreciate any advice from Bogleheads on this issue. Bottom line -- I am paid entirely now through a K1 -- professional partnerships. My partnership "suggests" that we use a particular CPA firm, thou...
by DC3509
Mon Apr 16, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes Question -- Help!
Replies: 14
Views: 1013

Estimated Taxes Question -- Help!

All, So I have been seething for the last 12 hours about some VERY unexpected tax problems. I would appreciate any advice from Bogleheads on this issue. Bottom line -- I am paid entirely now through a K1 -- professional partnerships. My partnership "suggests" that we use a particular CPA firm, thoug...
by DC3509
Thu Apr 12, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Help me choose a top law school!
Replies: 65
Views: 5935

Re: Help me choose a top law school!

If you want to end up in DC, you basically have to start in NY or DC (or maybe Chicago). To get the best job prospects in any of those cities, I think you go with Chicago or Penn. Regardless of which schools you are deciding among, first decide without regards to price. If the school that leads you...
by DC3509
Thu Apr 12, 2018 2:40 pm
Forum: Investing - Theory, News & General
Topic: 70% chance of correction in 2018 according to Vanguard - Highest in 15 years
Replies: 111
Views: 14997

Re: 70% chance of correction in 2018 according to Vanguard - Highest in 15 years

Isn't this all depressing? Wouldn't it be nice if -- in response to these sorts of questions -- instead of just playing to the masses and talking about a prediction in a cowardly way (70%? That sounds like making a prediction that basically predicts nothing) we had the head of a major financial comp...
by DC3509
Wed Apr 11, 2018 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Help me choose a top law school!
Replies: 65
Views: 5935

Re: Help me choose a top law school!

First -- congrats. You really can't go wrong with any of these choices. I think the differences between all of these schools is so minimal that this should really be a gut decision as much as anything else. Perhaps slight edge to the non-Georgetown schools for the reasons other have mentioned. But I...
by DC3509
Wed Apr 11, 2018 9:51 am
Forum: Investing - Theory, News & General
Topic: Book recommendation for Millenial
Replies: 11
Views: 1055

Re: Book recommendation for Millenial

Dave, Read this article. (A Simple Path To Wealth by JL Collins) It's excellent. Enjoy... http://jlcollinsnh.com/2011/06/08/how-i-failed-my-daughter-and-a-simple-path-to-wealth/ This isn't bad, but it could scare some people off. If you are talking about people who really have no interest in this s...
by DC3509
Wed Apr 11, 2018 8:47 am
Forum: Investing - Theory, News & General
Topic: Book recommendation for Millenial
Replies: 11
Views: 1055

Re: Book recommendation for Millenial

If You Can. William Bernstein. 16 pages -- it reads more like a magazine article than a book. Available for free. Google it. It is also short and punchy. It has some follow-up reading assignments if anyone is interested. If you absorb the book, you will be more financially literate than most America...
by DC3509
Mon Apr 09, 2018 5:38 pm
Forum: Personal Consumer Issues
Topic: Regrets of the frugal and dying?
Replies: 62
Views: 8860

Re: Regrets of the frugal and dying?

I've thought about this subject a lot lately, and wish we could have some ghost Bogleheads come back and tell us, "Well, was the frugal lifestyle really worth it?" I've read several books on various aspects of being a "Boglehead" and not once do I recall any of them saying you had to be frugal in a...
by DC3509
Sun Apr 08, 2018 10:45 pm
Forum: Personal Consumer Issues
Topic: Regrets of the frugal and dying?
Replies: 62
Views: 8860

Re: Regrets of the frugal and dying?

I've thought about this subject a lot lately, and wish we could have some ghost Bogleheads come back and tell us, "Well, was the frugal lifestyle really worth it?" I can't help but think that some people might have regretted it. We can all say, well people on their death beds say they wish they spen...
by DC3509
Wed Apr 04, 2018 10:16 pm
Forum: Investing - Theory, News & General
Topic: What can we learn from secret millionaires.
Replies: 93
Views: 16917

Re: What can we learn from secret millionaires.

I can also tell you that one attribute of a secret millionaire is that they understand very well that a million dollars isn't a lot of money. Not a lot of money in what context? The median individual income in the US is around $26k/yr so I would think that an amount of money that produces over 150%...
by DC3509
Wed Apr 04, 2018 7:23 am
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 10834

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

My wife and I save about 100k per year-it's just not that difficult. After doing so for about 7 years we have the option to stop working if we wish, or do work we are more passionate about that may not pay anything. I applaud thriftiness, but I don't see why it's so important to retire early, espec...
by DC3509
Tue Apr 03, 2018 11:48 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 10834

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

I really do not want to live and eat like them for FIRE. As someone already said that life is too short. Chinese greens are very tasty (with garlic) and often cost $1/lb. Meat (that every scientific body suggests you should minimize for health) can be had relatively inexpensive for the cuts Asian p...
by DC3509
Tue Apr 03, 2018 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 10834

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

How many of you have actually ridden a city bus? Did you encounter other human beings who were on their way to work, school, etc? Or, was it just a bunch of drug addicts and muggers who made you feel like you might not live until your final destination? I used to read the newspaper and have pleasan...
by DC3509
Tue Apr 03, 2018 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 10834

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

I applaud thriftiness, but I don't see why it's so important to retire early, especially if you live like you are super poor both before and after retirement. That's a lot of years with nothing to do--is that really that great? Working isn't that bad. I don't see any mention of having a family (kid...
by DC3509
Tue Apr 03, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 10834

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

stan1 wrote:
Tue Apr 03, 2018 9:25 pm
Sounds like they should start a business promoting a frugal lifestyle and then make a lot of money off it while claiming to not be working.
They sorta have done just that -- see my post about their blog.
by DC3509
Tue Apr 03, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 10834

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

They actually have a blog that documents all of this: https://www.thefrugalgene.com/feb-2018-report/ I'm not sure how you have two pets and only spend $8.36 on them last month. Our dogs would go on strike. I agree completely with the other people who responded here -- if I look back 11 years, my lif...
by DC3509
Sat Mar 24, 2018 9:52 pm
Forum: Investing - Help with Personal Investments
Topic: New Member, highly determined! Looking for advice / direction on becoming financially literate
Replies: 34
Views: 2480

Re: New Member, highly determined! Looking for advice / direction on becoming financially literate

The starting point should be If You Can. It is easy, breezy reading and lays out all of the essentials that everyone discusses here. It also has its own "reading assignment" list that will get you started in the right direction.
by DC3509
Sat Mar 24, 2018 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Anxious about age, career, and housing costs
Replies: 60
Views: 5456

Re: Anxious about age, career, and housing costs

Are you meeting your other savings and financial goals? If so, I wouldn't get hung up on a house. Houses can be terrible investments -- even when the value goes up (usually slowly over time), there are so many short term costs -- are you ready for the furnace to blow out? the roof to leak? for an in...
by DC3509
Sat Mar 24, 2018 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: What Budget? Do you keep one?
Replies: 116
Views: 7417

Re: What Budget? Do you keep one?

I've always had a handle on our fixed expenses while working but never kept a budget because income was always comfortably higher. Then again I'm lucky because my wife is even more frugal than I am. I used to keep herd on our monthly spending in an old fashioned checking account, and up until about...
by DC3509
Sat Mar 24, 2018 9:33 pm
Forum: Investing - Help with Personal Investments
Topic: Any Recent investors here?
Replies: 43
Views: 2898

Re: Any Recent investors here?

You should read The Four Pillars of Investing by William Bernstein. Your post shows that you do not understand the intellectual basis for investing -- which is fine, I didn't either until recently. But I think Bernstein's classic book will completely change the way you look at investing, maybe even ...
by DC3509
Wed Mar 21, 2018 9:39 am
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 3302

Re: SE Washington DC job - where to live?

Unless she really wants to live by herself, I suggest she reach out to her new employer to see if they have a network for connecting staff to housemates and maybe rooms for rent in homes of other staff. I don't know any young adults in the DC area who live by themselves because it's simply too expe...
by DC3509
Wed Mar 21, 2018 9:35 am
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 3302

Re: SE Washington DC job - where to live?

The area immediately around the base seems somewhat grim, but the reputation of DC commutes is also pretty bad. Are there areas to the south in Maryland, or across the river in VA that would have a sub 30-minute typical commute and be reasonably livable? How about commuting via metro from the more ...
by DC3509
Wed Mar 21, 2018 8:31 am
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 3302

Re: SE Washington DC job - where to live?

The area immediately around the base seems somewhat grim, but the reputation of DC commutes is also pretty bad. Are there areas to the south in Maryland, or across the river in VA that would have a sub 30-minute typical commute and be reasonably livable? How about commuting via metro from the more ...
by DC3509
Mon Mar 19, 2018 4:03 pm
Forum: Personal Consumer Issues
Topic: Least Expensive Way to Comprehensively Learn Law
Replies: 22
Views: 1653

Re: Least Expensive Way to Comprehensively Learn Law

Many states permit aspiring lawyer to “clerk” under a qualified attorney in order to become eligible to sit for the bar examination. Often a four to six year endeavor, during which time you are paid for your time. The supervising attorney and you are responsible for establishing a curriculum of stu...
by DC3509
Mon Mar 19, 2018 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: conversation about finances/spending with significant other?
Replies: 33
Views: 2707

Re: conversation about finances/spending with significant other?

This is a tough circumstance but I think you are being wise to think about it. It is not uncommon to have these sorts of relationships. I do think you need to consider what the long-term plan would be. If he simply won't save money or is incapable of it because of his personal habits, does he have a...
by DC3509
Mon Mar 19, 2018 7:38 am
Forum: Personal Consumer Issues
Topic: Large life style creep that was completely worth it
Replies: 112
Views: 14524

Re: Large life style creep that was completely worth it

As for the original question -- luxury car here. I never owned a luxury car before -- my previous car was beat-up, 120K miles on it. If you tried going above 65, it would shake, make all kinds of noises, etc. It was not a pleasant drive. The new car -- you can go 90 in it and not even notice. The w...
by DC3509
Sun Mar 18, 2018 10:45 pm
Forum: Personal Consumer Issues
Topic: Large life style creep that was completely worth it
Replies: 112
Views: 14524

Re: Large life style creep that was completely worth it

Yeah... All of that "stuff" is inter-related in that it's merely physical "stuff" that takes up more space and builds the illusion of happiness. Get a bigger house, multiple ones, fill it with more stuff, crazy cars, more misery, more keeping up with joneses who live in the same neighborhood with s...
by DC3509
Fri Mar 16, 2018 1:09 pm
Forum: Investing - Theory, News & General
Topic: Could all of these "low expected returns over next 10 years" predictions be wrong?
Replies: 120
Views: 11095

Re: Could all of these "low expected returns over next 10 years" predictions be wrong?

In 2002, a financial writer who is very well respected on these boards (and for good reason) predicted that the real return on U.S. large stocks on a going forward basis would be .... 3.5%. He was dead wrong. The return has been closer to 10% since that time -- and that was with the great recession...
by DC3509
Fri Mar 16, 2018 12:38 pm
Forum: Investing - Theory, News & General
Topic: Could all of these "low expected returns over next 10 years" predictions be wrong?
Replies: 120
Views: 11095

Re: Could all of these "low expected returns over next 10 years" predictions be wrong?

** Expected Range of Outcomes: 10-years: +/- 800 bps 20-years: +/- 400 bps The whole exercise is pointless with a +/- of 8%. And no one even knows if it's a true normal distribution. Unless someone has a secret weapon that can predict what the average earnings growth will be over time period and wh...
by DC3509
Fri Mar 16, 2018 12:31 pm
Forum: Investing - Theory, News & General
Topic: Could all of these "low expected returns over next 10 years" predictions be wrong?
Replies: 120
Views: 11095

Re: Could all of these "low expected returns over next 10 years" predictions be wrong?

In 2002, a financial writer who is very well respected on these boards (and for good reason) predicted that the real return on U.S. large stocks on a going forward basis would be .... 3.5%. He was dead wrong. The return has been closer to 10% since that time -- and that was with the great recession...
by DC3509
Fri Mar 16, 2018 10:53 am
Forum: Investing - Theory, News & General
Topic: Could all of these "low expected returns over next 10 years" predictions be wrong?
Replies: 120
Views: 11095

Re: Could all of these "low expected returns over next 10 years" predictions be wrong?

In 2002, a financial writer who is very well respected on these boards (and for good reason) predicted that the real return on U.S. large stocks on a going forward basis would be .... 3.5%. He was dead wrong. The return has been closer to 10% since that time -- and that was with the great recession....
by DC3509
Tue Mar 13, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 139
Views: 12984

Re: New Car: Ever make sense to lease?

The interest rate on most leases is very low, and lower than auto loans (usually). I would dispute the notion that lease interest rates are "usually" lower and say they are "rarely" lower. What may be "lower" is the common deception that lease agents deploy. Leases use a "money factor". A lease mon...
by DC3509
Tue Mar 13, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 139
Views: 12984

Re: New Car: Ever make sense to lease?

I've never leased a car yet, but have mildly considered it based on the idea that in three years or so I might want something different or have different circumstances. It occurs to me that there could be an unfilled niche in the market for people like me. I'd be willing to do a deal where I paid u...
by DC3509
Tue Mar 13, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 139
Views: 12984

Re: New Car: Ever make sense to lease?

Do I understand correctly that if you lease a car, you're responsible for the cost for all the maintenance and repairs and insurance just as if you owned it, plus the lease cost, and at the end of the lease you have zero equity? No. Leased cars are always new cars and covered by warranties for most...
by DC3509
Tue Mar 13, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 310
Views: 63968

Re: Physician Retirement Savings

I stumbled upon this page after doing a search to look at how much I need to retire. Specifically, I seek knowledge from people who have actually retired. As a 44 year old Orthopedic Surgeon with a pretty general practice, I have some knowledge of human capabilities and physical possibilities durin...
by DC3509
Tue Mar 13, 2018 7:36 am
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8374

Re: Amount saved by age

It is challenging to keep a high savings rate. It requires an engineered lifestyle, understanding exactly where the big costs are and how to minimize them so you don't have to worry about the little stuff. We don't coupon clip. Minimalism is enormously helpful in this efficient lifestyle, which we'...
by DC3509
Mon Mar 12, 2018 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8374

Re: Amount saved by age

I really like the madfientist podcasts. There is a good one from kitces http://pca.st/hfNT. Minimize your major recurring costs to maximize your savings. Before making big purchases calculate cost, time saved, cost per hour of gained/lost free time, increased salary, cost per use. Houses, apartment...
by DC3509
Mon Mar 12, 2018 10:31 am
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8374

Re: Amount saved by age

I really like the madfientist podcasts. There is a good one from kitces http://pca.st/hfNT. Minimize your major recurring costs to maximize your savings. Before making big purchases calculate cost, time saved, cost per hour of gained/lost free time, increased salary, cost per use. Houses, apartment...
by DC3509
Mon Mar 12, 2018 9:49 am
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8374

Re: Amount saved by age

No one I know ever lamented “they had too much money in savings and investments”. Many people lament they didn't spend the money do things or to splurge when they were young and able to enjoy them. Traveling particularly, but many other things like fun cars, nicer food and whatnot. You only live on...
by DC3509
Mon Mar 12, 2018 9:37 am
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8374

Re: Amount saved by age

I really like the madfientist podcasts. There is a good one from kitces http://pca.st/hfNT. Minimize your major recurring costs to maximize your savings. Before making big purchases calculate cost, time saved, cost per hour of gained/lost free time, increased salary, cost per use. Houses, apartment...
by DC3509
Sun Mar 11, 2018 8:37 am
Forum: Investing - Help with Personal Investments
Topic: Savings Rate for Self Employed
Replies: 9
Views: 662

Savings Rate for Self Employed

I know there have been countless threads on here about whether the savings rate should be calculated on a pre or post tax basis. While I think it is much better to estimate your actual expenses and work backwards when figuring out how much you need to save, it is also true that just about every fina...
by DC3509
Mon Mar 05, 2018 10:46 pm
Forum: Personal Consumer Issues
Topic: Which car, Porsche Cayenne or Volvo XC90?
Replies: 71
Views: 5777

Re: Which car, Porsche Cayenne or Volvo XC90?

I am sure the OP must be delighted to find out from this thread that less expensive options exist in the form of Honda and Toyota. They likely had never considered that. Ha, yes. The OP specifically mentioned two cars and states that he has ruled out all other brands/models. Yet, half (or more) of ...
by DC3509
Sat Mar 03, 2018 7:35 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4213

Re: After Tax Savings Rate

I agree with this. If you plan to retire when you're 70 and live modestly, then your pre-tax savings alone is probably fine. If you want to retire at 45 and live lavishly, then you'll need to save a lot more. There's just not enough info to say what would likely be appropriate for you. Sorry. We're...
by DC3509
Mon Feb 26, 2018 9:40 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: What Investors Should Worry About
Replies: 118
Views: 10639

Re: Larry Swedroe: What Investors Should Worry About

There is nothing really new in this article. Don't believe me? Open up the Four Pillars of Investing from Bernstein written in 2002 . Turn to pg. 230 -- he writes in some depth about why we can't plan for a 30-year retirement. Then turn to page 72 -- he has a nifty table of his anticipated real mark...
by DC3509
Mon Feb 26, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4213

Re: After Tax Savings Rate

I do not like these "you should be saving X at Y age" charts. What these assume is that your salary has been relatively stable throughout the years. But what if you were in grad school for an extended period of time (like many doctors and attorneys) or have a series of significant raises? All of a s...
by DC3509
Thu Feb 22, 2018 12:09 pm
Forum: Personal Consumer Issues
Topic: Mental Accounting -- How to solve problem
Replies: 32
Views: 3164

Re: Mental Accounting -- How to solve problem

This thread has been eye-opening! Personally, I budget annually and then break that down into monthly chunks. I (try to) keep a buffer in my checking account for 1/12th of my annual expenses, not including savings/retirement. I don't worry about expensive months since it all even out -- our biggest...
by DC3509
Thu Feb 22, 2018 9:20 am
Forum: Investing - Help with Personal Investments
Topic: Balance in Marriage and Student Loans
Replies: 26
Views: 1918

Re: Balance in Marriage and Student Loans

First year of marriage I would continue to rent. I also would not pay off his loans during that time, it can be stressful and would be great fuel for a fight. Why is he paying so little on his income now? Are you both looking for better jobs? Can he work extra to earn more to pay them off faster? I...