Search found 169 matches

by DC3509
Mon Jun 18, 2018 6:52 pm
Forum: Investing - Help with Personal Investments
Topic: Young and rich
Replies: 33
Views: 4508

Re: Young and rich

You would do well to never again refer to yourself as rich, or you risk believing it and acting like it. Although you are fortunate, and ahead of the game, you are neither rich nor have you won the game yet. In some parts of the country, your net worth is the median price of a home, which you do no...
by DC3509
Thu Jun 14, 2018 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Why do we work?
Replies: 121
Views: 9968

Re: Why do we work?

You "feel sorry" for someone who's contributing socially and enjoys what they're doing with their time? I feel sorry for you . One may "like" his/her job. But "loving" his/her job is too much in my opinion. The response doesn't make much sense to what was intended to be a serious reply in a thread ...
by DC3509
Mon Jun 11, 2018 12:59 am
Forum: Personal Finance (Not Investing)
Topic: Why do we work?
Replies: 121
Views: 9968

Re: Why do we work?

I am surprised that most people who responded to this replied that they work to provide and purchase things. I work because I absolutely love my job and consider myself very fortunate everyday to do the type of work that I do. I grew up in a very blue-collar, economically depressed area, and living...
by DC3509
Sun Jun 10, 2018 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 734
Views: 202458

Re: Share your net worth progression

Am I the only one who thinks these threads are pretty useless, and are their own warped version of comparing yourself to others and keeping up with the Jones's? Everyone has individual circumstances in life that can impact their net worth -- level of education, type of job, student loan debt, inheri...
by DC3509
Sun Jun 10, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Why do we work?
Replies: 121
Views: 9968

Re: Why do we work?

I am surprised that most people who responded to this replied that they work to provide and purchase things. I work because I absolutely love my job and consider myself very fortunate everyday to do the type of work that I do. I grew up in a very blue-collar, economically depressed area, and living ...
by DC3509
Tue Jun 05, 2018 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12408

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I hesitate to say this because I think it is a terrible idea, but you could go to law school and see if you graduate Yale first in your class and get a Supreme Court clerkship. Failing that, you could pursue a S.J.D. after law school, which is essentially a doctorate in law. The upshot of the S.J.D...
by DC3509
Sun Jun 03, 2018 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12408

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Let me clear up how the law professor thing works now -- and believe me there is only ONE career path to this now -- you go to a top 5/10 law school, graduate with top of the class grades, then you get a BigLaw job, and either take that job after law school, or you spend the next several years chas...
by DC3509
Sun Jun 03, 2018 9:17 pm
Forum: Investing - Help with Personal Investments
Topic: NYT Story on Importance of Working Just a Little Longer
Replies: 27
Views: 4692

Re: NYT Story on Importance of Working Just a Little Longer

I hate to beat a dead horse but The study, “The Power of Working Longer" twists the data is such ludicrous shapes it's obscene. They take every possible assumption to prove that their information is correct. I read this study and it was a total sham it 1 assumes that the majority of people's retire...
by DC3509
Sun Jun 03, 2018 9:03 pm
Forum: Investing - Help with Personal Investments
Topic: NYT Story on Importance of Working Just a Little Longer
Replies: 27
Views: 4692

Re: NYT Story on Importance of Working Just a Little Longer

I hate to beat a dead horse but The study, “The Power of Working Longer" twists the data is such ludicrous shapes it's obscene. They take every possible assumption to prove that their information is correct. I read this study and it was a total sham it 1 assumes that the majority of people's retire...
by DC3509
Sun Jun 03, 2018 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12408

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I think your post greatly underestimates how difficult it is to become a Biglaw caliber attorney. Becoming a solid attorney and having the legal judgment to succeed at the highest levels of the law in Biglaw is a lifetime pursuit --- much like being a good doctor. It's not a side hobby for someone ...
by DC3509
Sun Jun 03, 2018 7:45 pm
Forum: Investing - Help with Personal Investments
Topic: Help - investor starting later in life
Replies: 28
Views: 3531

Re: Help - investor starting later in life

Welcome to the forum :) . The late 30s is indeed a late start, but not too late for investing on a reasonable plan to make a difference for you. These are my quick suggestions: 1) invest for the long-term, not for a short-term target of 3-5 years; 2) use the 3 very diversified, very low expense tot...
by DC3509
Sun Jun 03, 2018 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12408

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I think your post greatly underestimates how difficult it is to become a Biglaw caliber attorney. Becoming a solid attorney and having the legal judgment to succeed at the highest levels of the law in Biglaw is a lifetime pursuit --- much like being a good doctor. It's not a side hobby for someone o...
by DC3509
Sun Jun 03, 2018 5:37 pm
Forum: Investing - Help with Personal Investments
Topic: NYT Story on Importance of Working Just a Little Longer
Replies: 27
Views: 4692

NYT Story on Importance of Working Just a Little Longer

There was a very good story in today's NYT about the importance of working just a little longer, and how doing do and increasing your SS payout can mean more (or just as much) as increasing your savings rate. https://www.nytimes.com/2018/06/01/business/thinking-about-retirement-consider-working-a-li...
by DC3509
Mon Apr 23, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Lawyers: Career Advice (Urban to Rural?)
Replies: 21
Views: 2139

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: 1056

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: 1056

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: 1056

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: 1056

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: 6032

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: 15158

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: 6032

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: 1069

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: 1069

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: 8960

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: 8960

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: 17019

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: 11009

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: 11009

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: 11009

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: 11009

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: 11009

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: 11009

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: 2539

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: 5516

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: 7797

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: 2965

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: 3421

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: 3421

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: 3421

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: 1701

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: 2754

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: 14668

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: 14668

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: 11237

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: 11237

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: 11237

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: 11237

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: 140
Views: 13767

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: 140
Views: 13767

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: 140
Views: 13767

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...