Search found 131 matches

by aburntoutcase
Sun Jun 24, 2018 7:38 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

You don't say if staying on the payroll for 16 weeks entitles you to health insurance coverage. If it does that more than most people get when laid off. Cobra would cost probably close to 2k/month for a family so that another 8k in benefits. I was already on the employer sponsored coverage offered ...
by aburntoutcase
Tue Jun 19, 2018 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: MD&P just purchased X / sold Y [md&pharmacist]
Replies: 198
Views: 13472

Re: I feel like selling my 3 fund

You have only 36% in equities, what is the big deal? Even in a 50% bear market you will only lose 18%.
by aburntoutcase
Mon Jun 18, 2018 8:36 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

financeguy88 wrote:
Mon Jun 18, 2018 4:26 pm
Plot twist: by “legal review” they meant he read this thread. Sorry, couldn’t help it :)
Haha that would be ironic!
by aburntoutcase
Mon Jun 18, 2018 8:35 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Well played by my former employer and my spouse advised me to fold like a cheap suit, and I have decided to heed her advice :happy I know that was probably tongue & cheek, but you can rest your head knowing you negotiated as much as you could for yourself and your family. Nothing was left on the ta...
by aburntoutcase
Mon Jun 18, 2018 8:31 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Globalviewer58 wrote:
Mon Jun 18, 2018 4:16 pm
File your claim in the state where you worked.
Thanks! As it turns out MA pays out more in unemployment than NJ, so that helps as well.
by aburntoutcase
Mon Jun 18, 2018 4:04 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

During the past 3 years my work address was in MA, even though my residence was in NJ. I essentially drove to MA every couple of weeks to work Mon-Thu at my company's office in MA, and the rest of the time I worked from home. My payroll was always withheld based on MA income tax rules. It is unclear...
by aburntoutcase
Mon Jun 18, 2018 3:19 pm
Forum: Investing - Theory, News & General
Topic: Indiv. REITs in taxable because of new tax law? Aargh!
Replies: 15
Views: 2457

Re: Indiv. REITs in taxable because of new tax law? Aargh!

Doesn’t that make it worse? If you hold in taxable you pay 0% taxes on the portion of the dividend that is attributable to “return of capital” if you hold in an ira you will eventually get taxed on it at ordinary income tax rates? That portion of the tax considerations has not changed as a result o...
by aburntoutcase
Mon Jun 18, 2018 2:17 pm
Forum: Investing - Theory, News & General
Topic: Indiv. REITs in taxable because of new tax law? Aargh!
Replies: 15
Views: 2457

Re: Indiv. REITs in taxable because of new tax law? Aargh!

I don't think this suddenly makes holding individual REITs in taxable accounts the optimal decision for everyone. There are a lot of factors at play such as marginal tax rates, asset allocation, interaction with taxable and tax-deferred capacity, tax rate in retirement etc. Even if comparison is tax...
by aburntoutcase
Mon Jun 11, 2018 2:32 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Darth Xanadu wrote:
Mon Jun 11, 2018 1:46 pm
Very interesting thread. Thanks for the continued updates. Sounds like you made a well-thought out pitch with minimal expectations, and you were denied. No harm in asking as you did, and I wouldn't consider it a fold on your part at all. Good luck with your next chapter!
Thank you!
by aburntoutcase
Mon Jun 11, 2018 12:12 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Final update. As expected HR got back to me and said that my request to extend severance pay by an additional two months had been reviewed by the leadership team and they had denied it. I have to give them some props, they twisted the screws by mentioning that there had also been an additional "lega...
by aburntoutcase
Fri Jun 08, 2018 5:03 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

The other decision I made before the meeting was to say at the end of it (unless things went very differently than I expected) in as personal of a tone as I could, "I'm sorry you have to handle this task, but I want to thank you for your courtesy during the process." I think he just about melted wh...
by aburntoutcase
Fri Jun 08, 2018 9:07 am
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Since I was fortunate to receive a lot of great advice from people who took the time to help me out, here is a recap of how my discussion with HR went down. Hopefully it will be of some help to those who might find themselves in a similar situation. I started off by going through some basic question...
by aburntoutcase
Fri Jun 08, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Stuck in Quicksand (Guidance Appreciated)
Replies: 46
Views: 3777

Re: Stuck in Quicksand (Guidance Appreciated)

I’m curious about OP's interest in an MBA but disinterest in management. Isn’t management the end goal for people with MBAs? Good question Afty. The thought is that a part time MBA from a top school that I can get into would provide me the flexibility to move into other areas of business that is no...
by aburntoutcase
Thu Jun 07, 2018 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Stuck in Quicksand (Guidance Appreciated)
Replies: 46
Views: 3777

Re: Stuck in Quicksand (Guidance Appreciated)

Aburntoutcase, this is great feedback, thanks for being blunt. My mistake that I didn't clarify in my original post. I would purse the top part time/executive MBA that I could get into given my age, not the full time program. I think you bring up a good question. At the risk of sounding like a wrec...
by aburntoutcase
Thu Jun 07, 2018 9:57 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

I would cut out the retroactive merit pay from your argument. To me it doesn't make sense and you want to focus on areas that are clear and defendable - bonus and equity. How are you forgoing merit pay increase when you'll be gone by the time you would have received it..... pro-rated bonus and equi...
by aburntoutcase
Thu Jun 07, 2018 9:45 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Might as well give it a shot. Sit down with them and be reasonable, tell them you want your pro rata bonus and your equity vested. See what they say. If you really want to push it, tell them you have a claim or claims you’ll bring against them if they don’t agree to that. They’re likely going to wa...
by aburntoutcase
Thu Jun 07, 2018 9:09 pm
Forum: Investing - Theory, News & General
Topic: Yes, you can diversify a market portfolio
Replies: 190
Views: 11008

Re: Yes, you can diversify a market portfolio

Jeff Albertson wrote:
Thu Jun 07, 2018 6:36 pm
Might be more important to diversify a U.S. based portfoilio, especially compared to a European one.
Image
Disagree - I would rather be overweight Technology than Financials.
by aburntoutcase
Thu Jun 07, 2018 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Stuck in Quicksand (Guidance Appreciated)
Replies: 46
Views: 3777

Re: Stuck in Quicksand (Guidance Appreciated)

I went to a Top 5 B-School at the age of 30 and felt my age every second during recruitment, and I was only 3-4 years older than the 26-27 year average back then. Since I went to B-School I believe the average has if anything declined. I targeted investment banking and received a very skeptical rece...
by aburntoutcase
Thu Jun 07, 2018 8:54 pm
Forum: Investing - Theory, News & General
Topic: Yes, you can diversify a market portfolio
Replies: 190
Views: 11008

Re: Yes, you can diversify a market portfolio

Jeff Albertson wrote:
Thu Jun 07, 2018 6:36 pm
Might be more important to diversify a U.S. based portfoilio, especially compared to a European one.
Image
Disagree - I would rather be overweight Technology than Financials.
by aburntoutcase
Thu Jun 07, 2018 7:42 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

However, the 16 weeks remaining on the payroll do normally count as post-termination employment income, and the applicant for benefits would have their benefits reduced partially or completely (depending on size of their paycheck) for each of those weeks as a result. I can't speak to management lev...
by aburntoutcase
Thu Jun 07, 2018 2:16 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

In my mega-corp (>$25 billion/year revenue) the typical laid-off employee gets 2 months (WARN act) + 2 weeks/year of service. they get their vacation cashed out but lose all un vested RSUs. While on payroll for 16 weeks - do you get health benefits too? That would be huge. I think all in all you wh...
by aburntoutcase
Thu Jun 07, 2018 11:01 am
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

TIP: Try to meet in person 1 on 1 with the highest level person you can, in person, not by phone. Start by thanking him for the very generous severance package. Then ask for something additional. Thank for the recommendation on taking the outplacement services seriously. My last layoff in late 2008...
by aburntoutcase
Thu Jun 07, 2018 10:37 am
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Regarding negotiating severance benefits, it would be uncommon to get a higher multiple of weeks versus what the plan provides since companies do not want to violate their plan policy as this can create legal issues. But, they can and do provide flexibility in terms of "working severance" (e.g., yo...
by aburntoutcase
Thu Jun 07, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 15479

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

When I was younger I had different interests, all physical pursuits. At this age I enjoy work if: 1. I am, or can become an expert. 2. It doesn't wake me up in the middle of the night. 3. I can work quietly at a comfortable pace without interruptions. Since you have a lot of experience in healthcar...
by aburntoutcase
Thu Jun 07, 2018 9:29 am
Forum: Investing - Theory, News & General
Topic: Yes, you can diversify a market portfolio
Replies: 190
Views: 11008

Re: Yes, you can diversify a market portfolio

Likewise, the Vanguard Total Bond Market Index fund represents an impressive portfolio, but it does not have the level of exposure to credit risk and term risk it needs in order to balance the stocks held in VTSMX. You should have stopped right there. It makes no sense whatsoever to say that adding...
by aburntoutcase
Thu Jun 07, 2018 8:59 am
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

I never really realized how MASSIVE the hedge fund industry is. The assets under management of hedge funds in total are in the same ballpark as Vanguard. Amazing. Yup. And that's after losing AUMs for several years in a row. Are you sure? That's not what I see from here for example: https://www.bar...
by aburntoutcase
Wed Jun 06, 2018 5:30 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

wait a minute....you can negotiate your severance pay? That's news to me. Good to know should I ever need it :) Sorry about your situation OP I think it depends on the situation, but it never hurts to ask even if you think chances are slim to none. For me it is more of an attempt to come out of my ...
by aburntoutcase
Wed Jun 06, 2018 5:27 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Sometimes you just lose your job if you ask for too much - no chance for a do-over. I've seen it happen. So here on Bogleheads you've got a non-random selection of people, a disproportionate number of whom have negotiated and won. The ones who lost and never recovered... well they're not in the mar...
by aburntoutcase
Wed Jun 06, 2018 2:57 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

If you raise the point of your excellent performance an HR person can easily turn that around (or any other positive aspect) and rationalize that you should have no difficulty readily finding and adjusting to employment elsewhere, you're a superstar. HR people don't mind fighting back with complime...
by aburntoutcase
Wed Jun 06, 2018 2:18 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

If this is true, they may want you back after they gain the expected profits. (After all, if your job truly overlapped with their folks' experience, you would have been laid off at the start.) With that in mind, I don't think I'd push too hard on anything that will cost them money. That could hurt ...
by aburntoutcase
Wed Jun 06, 2018 1:54 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

My new suggested approach would be to set up a 15 minute meeting with the HR guy to review your separation. At that meeting, keep it positive and get clarity on exactly when your health insurance and other benefits expire. Ask about anything else they may be willing to do for you that you want (kee...
by aburntoutcase
Wed Jun 06, 2018 1:24 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

One thing you could consider asking for is outplacement services if you think you’ll need them. I wouldn’t try to “negotiate” for them - I would just ask politely in the form a question of whether they will be provided, because you don’t have any leverage. Often companies are happy to help their em...
by aburntoutcase
Wed Jun 06, 2018 1:21 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

I was at the director level. I was never laid off, but once we went through a voluntary and the packages where public knowledge internally: - Everybody got a base of 6 or 8 weeks (WARN act requirement i think???) - Then on top of the 6 weeks, employees would get a certain # of weeks per year based ...
by aburntoutcase
Wed Jun 06, 2018 1:19 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

My new suggested approach would be to set up a 15 minute meeting with the HR guy to review your separation. At that meeting, keep it positive and get clarity on exactly when your health insurance and other benefits expire. Ask about anything else they may be willing to do for you that you want (kee...
by aburntoutcase
Wed Jun 06, 2018 12:59 am
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

I work in PE. Unfortunately, you have no leverage unless they think you may file a claim against them and they would rather just give you extra severance to make the issue go away. So you have to decide if that’s something you want to do or not. Personally, I wouldn’t but we’ve dealt with some pret...
by aburntoutcase
Tue Jun 05, 2018 11:53 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

I'm sorry to hear that you are losing your job but it sounds like you are in a good position to find something even better. Thank you. It is not my first layoff - I lost a junior investment banking job during the credit crisis and the 2009 job market was so bleak that it has sort of toughened me. T...
by aburntoutcase
Tue Jun 05, 2018 11:49 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

I'm a CFO at a PE backed company much smaller than yours. I'd say their flexibility will be inversely related to the number of individuals being laid off. If it is just you, lots of flexibility and if it is dozens or more, almost none. Thank you for your insight and taking the time to respond in su...
by aburntoutcase
Tue Jun 05, 2018 9:32 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Based on what I am hearing it seems 1-2 weeks per year of service is pretty common, so getting 6 weeks per year seems like a fairly good offer. They are already offering to pay for accrued vacation of 2 weeks separately, so that is covered.
by aburntoutcase
Tue Jun 05, 2018 9:29 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Re: Severance Package Question

Sorry for the loss of your job. Not ever having been at your level or in that kind of position, I have to ask why you think you can negotiate the offer? You have no leverage that I see from your post. Well part of accepting a severance package is that your agree not to file any employment related c...
by aburntoutcase
Tue Jun 05, 2018 8:34 pm
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

My point is exactly that. However, hedge fund managers would like you to think that hedge funds are mass investment vehicle. AND, hedge fund total assets are MASSIVE - as if they are mass investment vehicles. Not sure why you have this impression? Some of the largest hedge funds have fewer than a 1...
by aburntoutcase
Tue Jun 05, 2018 8:29 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6415

Severance Package Question

The company I work for acquired by private equity firms last year and today I was laid off. Company size is ~$700M in revenue and my location was in the Northeast. I was at a Director level which is one level below VP (Business Unit Heads are SVPs). I worked for them for just shy of 3 years, perform...
by aburntoutcase
Mon Jun 04, 2018 1:52 pm
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

Now: note how tiny the total dollars made numbers are. This after picking the *BEST* 5 hedge funds of all times! Repeat: the *BEST* 5 hedge funds of all times. Next: most of those funds have become family offices or private investment vehicles. So you can't invest in them anyway. And lastly: most o...
by aburntoutcase
Mon Jun 04, 2018 1:45 pm
Forum: Personal Consumer Issues
Topic: Family Summer Beach / Lake House Destinations
Replies: 16
Views: 1796

Re: Family Summer Beach / Lake House Destinations

Block Island in RI might be worth a look. I havent been to Cape Cod, but Block Island seems like a cheaper, quieter, but less developed comparison. There are a variety of beaches and things to do outside, but it isn't like Rehoboth which has everything a tourist could want. Youd probably want bikes...
by aburntoutcase
Mon Jun 04, 2018 1:44 pm
Forum: Personal Consumer Issues
Topic: Family Summer Beach / Lake House Destinations
Replies: 16
Views: 1796

Re: Family Summer Beach / Lake House Destinations

Most summers we rent a house in the Adirondacks on a lake within 30 minutes or so of Lake Placid or Saranac. There are larger places that accommodate big groups. There is swimming, kayaking and hiking for activities. Lake Placid has bars, restaurants and the Olympic site. We rent through Adirondack...
by aburntoutcase
Sat Jun 02, 2018 3:55 pm
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

If you believe the IRS, then Renaissance earned its alpha through tax evasion. The market becomes efficient because the players compete away the profits. If you're willing to evade taxes, but other people aren't, then you can use strategies that won't get competed away. That is a very superficial a...
by aburntoutcase
Sat Jun 02, 2018 3:50 pm
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

Meaning we small individual investors are left with the copycat hedge funds that siphon off your money without adding value. So I'll stick to my globally diversified stock portfolio then :) That's what I am doing, although my portfolio is US centric. However if I was worth > $10M I would probably b...
by aburntoutcase
Fri Jun 01, 2018 4:37 pm
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

Can you please provide numbers that the largest hedge funds do a good job? And compared to what (which seems to the point of the discussion)? The largest actively managed equity funds also presumably have the smartest investment management talent in the world. Does that guarantee that they are doin...
by aburntoutcase
Thu May 31, 2018 7:04 pm
Forum: Investing - Theory, News & General
Topic: Cliff Asness - The Hedgie in Winter
Replies: 40
Views: 4096

Re: Cliff Asness - The Hedgie in Winter

I don’t know - nor care - what the they *should* be compared to, but that article furthers my sense that hedge fund managers are unrepentant con artists. Philistinism is never a good attitude. David Swensen is considered a God in the Endowment industry and he shunned passive investments for the mos...
by aburntoutcase
Thu May 31, 2018 11:31 am
Forum: Personal Consumer Issues
Topic: Family Summer Beach / Lake House Destinations
Replies: 16
Views: 1796

Re: Family Summer Beach / Lake House Destinations

Bethany Beach may be a good option. It is close to Rehobeth, but smaller. Bethany has a nice, small boardwalk with shops and restaurants. There is live music most weekend nights. Perfect for the kids because it is small enough that they can wander around on their own without running into trouble. T...
by aburntoutcase
Thu May 31, 2018 11:15 am
Forum: Personal Consumer Issues
Topic: Family Summer Beach / Lake House Destinations
Replies: 16
Views: 1796

Re: Family Summer Beach / Lake House Destinations

It is now May 31. Beach season on the DE/MD shore has been underway for a while (I live along a major beach route to Ocean City, MD). Many places on the DE shore are booked a year in advance. I wouldn't take too long making a choice. Availability may be limited. Sadly I am seeing that you are right.