Search found 35 matches

by NJ-Irish
Thu Jun 27, 2019 9:35 pm
Forum: Personal Consumer Issues
Topic: What lifestyle creep made you happier?
Replies: 412
Views: 47587

Re: What lifestyle creep made you happier?

I buy made to measure dress shirts for work since I have an 18 inch neck and 36 inch waist. Having shirts that fit is a joy. I used to spend about $35/shirt now I spend about $60/shirt. I also spend quite a bit on dress shoes ~$250/pair. I have 4-5 pairs, ive resoled a few of them, but I haven’t rep...
by NJ-Irish
Sat Mar 30, 2019 9:08 pm
Forum: Personal Investments
Topic: Safe way to "bet" against LYFT?
Replies: 36
Views: 4161

Re: Safe way to "bet" against LYFT?

There are a lot of option strategies which you can tailor your risk and reward to exactly what you are looking for.

But you will probably lose all your money.

https://en.m.wikipedia.org/wiki/Options_strategy
by NJ-Irish
Fri Feb 22, 2019 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: $50,000 executive MBA at a state school or $5,000 MBA at a regional school?
Replies: 46
Views: 4395

Re: $50,000 executive MBA at a state school or $5,000 MBA at a regional school?

Half the value of an MBA is the network you make while there. I don’t know anything about these two programs, but you will want to know what type of people attend, where they work after, and see how that matches your current career path. What specializations do each program have? And does it match y...
by NJ-Irish
Fri Jan 11, 2019 6:23 pm
Forum: Personal Consumer Issues
Topic: NYC restaurant hidden gems?
Replies: 25
Views: 2187

Re: NYC restaurant hidden gems?

$30 burger and you need a reservation. That is hilarious. I just made burgers for my family of 4. The beef was $8.95 and that is high for a pound, but it was grass-fed that I bought directly for a farmer in upstate NY. It was some of the best ground meat I've ever had. PS - I'm not trying to cut on...
by NJ-Irish
Wed Jan 09, 2019 6:54 pm
Forum: Personal Consumer Issues
Topic: NYC restaurant hidden gems?
Replies: 25
Views: 2187

Re: NYC restaurant hidden gems?

I usually go out to dinner in the west village. It might be on the long side of a 20 minute walk but here are some of my favorites: Red Farm - Chinese fusion - no reservations and a long wait but worth it. Lots of good bars to drink at in the area. Chumleys - best $30 burger in the city. Need a rese...
by NJ-Irish
Wed Dec 26, 2018 1:53 pm
Forum: Investing - Theory, News & General
Topic: Why call them "losses" when you still own the shares?
Replies: 103
Views: 5307

Re: Why call them "losses" when you still own the shares?

I think the key point the OP is making, is that you buy index funds shares because of your belief that they will appreciate in the long term and you should not allow market gyrations along the way (which are sure to come) to dissuade you. That said I would add because there are gyrations up and dow...
by NJ-Irish
Wed Dec 26, 2018 1:39 pm
Forum: Investing - Theory, News & General
Topic: Why call them "losses" when you still own the shares?
Replies: 103
Views: 5307

Re: Why call them "losses" when you still own the shares?

You own the shares but you have lost the value associated with each share. You have also lost the time it takes to regain that value. I don’t understand how you can fancily explain this in any other terms.
by NJ-Irish
Mon Dec 17, 2018 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage and separate accounts - how does it work?
Replies: 98
Views: 5786

Re: Marriage and separate accounts - how does it work?

I married my wife 3 years ago, we lasted about a year before we just fully combined our accounts. All your questions are good examples of why it works poorly. It’s hard to maintain a separate bank account. It’s better to start with your common goals, with respect to savings, major expenses, and gene...
by NJ-Irish
Mon Nov 19, 2018 2:00 am
Forum: Personal Finance (Not Investing)
Topic: Selling Investments to Pay Down Debt
Replies: 11
Views: 1207

Re: Selling Investments to Pay Down Debt

Based upon your response I would recommend sucking it up and paying it off from income. It’s tough but you grow from the experience. It will let you feel the value of a dollar. What changed in from the past summer and why did you incur the debt? You should think about the reason, and try to figure o...
by NJ-Irish
Mon Nov 19, 2018 1:50 am
Forum: Personal Consumer Issues
Topic: Coffee tablebooks??
Replies: 21
Views: 1627

Re: Coffee tablebooks??

Pick something you are interested in. Or pick something from a story you like to tell. You will probably flip through it once or twice. Your guests might also see it and ask about it. It’s hard to be more specific. I have one from a photography exhibit I saw in NYC about 5 years ago. It’s called Cop...
by NJ-Irish
Sun Aug 19, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Please review my finances
Replies: 6
Views: 832

Re: Please review my finances

Compound, thanks for the advice. I'm in agreeance about your points on saving. I'll keep those balances in the low ER environment. 2. I don’t think it will matter if you make the regular or mega backdoor Roth the priority; I suspect you’d end up parking the money at the same institution in the end a...
by NJ-Irish
Sun Aug 19, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Please review my finances
Replies: 6
Views: 832

Re: Please review my finances

Thanks HedgeFundie. I appreciate your comments Try your best not to think about your 401k as a piggy bank. You should view the locked-up nature of the 401k as a feature, not a bug. If you need more e-funds or liquid cash, you should reduce your expenses, not tap your retirement savings. When I think...
by NJ-Irish
Sun Aug 19, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Please review my finances
Replies: 6
Views: 832

Please review my finances

Hi All, I’ve been on the forum for a few months now, and I’ve learned such a great deal and have read excellent advice about many different topics. So first, thank you such great advice. I work in the financial services industry in a VHCOL area. While I have extensive knowledge of many investment ve...
by NJ-Irish
Mon Aug 13, 2018 10:24 pm
Forum: Personal Investments
Topic: Small business owner, mid 30s, doing great, clueless with investments
Replies: 22
Views: 2421

Re: Small business owner, mid 30s, doing great, clueless with investments

You might want to put some thought into segregating the following buckets of assets. 1. Business balance sheet - which include working capital, any upcoming capital expenses. Business “emergency” expenses such as insurance deductibles or similar. 2. Personal emergency fund. You seem like a good cand...
by NJ-Irish
Mon Aug 13, 2018 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage [How should finances be handled?]
Replies: 74
Views: 8553

Re: Marriage [How should finances be handled?]

I’m in the “combine the whole damn thing” camp. The key to making that arrangement work is respecting your wife’s space when it comes to the things that matter to her. And vice versa. Don’t put a dollar limit on it, but but to understand the reason she wants whatever. If you can set shared goals on ...
by NJ-Irish
Thu Aug 02, 2018 5:51 am
Forum: Investing - Theory, News & General
Topic: Interesting Take on the 3 Fund Model
Replies: 66
Views: 4060

Re: Weird Portfolio Guy Returns

I read through your other portfolios and I notice a theme, with aversions to certain asset classes & market sectors, and concentrations in specific stocks. With regards to stock picking, just know that your competition isn’t a bunch of dudes reading the Sunday paper and calling their broker, it’s a ...
by NJ-Irish
Tue Jul 24, 2018 5:29 pm
Forum: Personal Investments
Topic: Split 401k 50/50 roth/traditional [new job]?
Replies: 17
Views: 1466

Re: Split 401k 50/50 roth/traditional [new job]?

NJ-Irish, A) If you choose Roth 401K There is at least one US recession every 10 years. So, you are assuming this person survive one or more recession without any short-term unemployment. Aka, he has continuous employment with increasing salary over the next 15 years. Is he that lucky? If everythin...
by NJ-Irish
Tue Jul 24, 2018 4:33 pm
Forum: Personal Investments
Topic: Split 401k 50/50 roth/traditional [new job]?
Replies: 17
Views: 1466

Re: Split 401k 50/50 roth/traditional [new job]?

FiveK wrote:
Tue Jul 24, 2018 4:18 pm
Thank you FiveK. This is great advice all around. Thanks for your time.
by NJ-Irish
Tue Jul 24, 2018 2:07 pm
Forum: Personal Investments
Topic: Split 401k 50/50 roth/traditional [new job]?
Replies: 17
Views: 1466

Re: Split 401k 50/50 roth/traditional [new job]?

My logic has always revolved around the comparison of my current marginal tax rate (24%) vs my future average tax rate in retirement (unknown- maybe 20% or so). Because of this I usually do traditional 401k contributions. That comparison will almost always lead one to use traditional. It is, howeve...
by NJ-Irish
Tue Jul 24, 2018 12:34 pm
Forum: Personal Investments
Topic: Split 401k 50/50 roth/traditional [new job]?
Replies: 17
Views: 1466

Re: Split 401k 50/50 roth/traditional [new job]?

My logic has always revolved around the comparison of my current marginal tax rate (24%) vs my future average tax rate in retirement (unknown- maybe 20% or so). Because of this I usually do traditional 401k contributions. Hedging against the future unknown tax brackets is reasonable. I usually end u...
by NJ-Irish
Sun Jul 22, 2018 9:07 pm
Forum: Investing - Theory, News & General
Topic: Can someone explain how hedging works
Replies: 12
Views: 907

Re: Can someone explain how hedging works

How does hedging work? Hedging is typically done through a combination of derivative instruments such as FX forwards, FX futures, FX swaps. Each of them have technical differences, but essentially what is happening is that the fund entering an agreement with a banking counterparty to exchange curre...
by NJ-Irish
Sat Jul 21, 2018 2:16 pm
Forum: Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 14771

Re: Should I Dump a Pile of Money on Young Son?

celia wrote:
Sat Jul 21, 2018 1:51 pm
If I was his GF, I'd wonder why his parent(s) are paying for his dates and paying for his other expenses. He sure doesn't sound like he could take care of himself, let alone a wife!
I was recommending small gifts. I wasn't giving dating advice.
by NJ-Irish
Sat Jul 21, 2018 5:43 am
Forum: Personal Finance (Not Investing)
Topic: do i need a lawyer when applying for a HELOC?
Replies: 12
Views: 1294

Re: do i need a lawyer when applying for a HELOC?

I’ve read similar contracts and they are in plain English and easy to understand. And generally, they aren’t negotiable in any significant way. Lawyers don’t add much value in these circumstances.
by NJ-Irish
Sat Jul 21, 2018 5:34 am
Forum: Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 14771

Re: Should I Dump a Pile of Money on Young Son?

It sounds like you have raised a FANTASTIC kid. One who takes pride in his personal independence. If he has spent his lifetime declining gifts, then why would you think he wants this windfall? Don’t assume he wants it, he probably doesn’t. I would NOT drop a lump sum on him. However, you can small o...
by NJ-Irish
Tue Jul 17, 2018 1:39 pm
Forum: Personal Investments
Topic: Tell me what's wrong with my strategy
Replies: 105
Views: 8456

Re: Tell me what's wrong with my strategy

I would recommmend carving out your FAANG investment into a separate account, call it your play-money account, trade to your hearts desire. In your retirement account, stick with the three fund portfolio, pick an asset allocation, stay the course. Come back in a year and tell us how you do vs. the t...
by NJ-Irish
Sat Jul 14, 2018 4:58 am
Forum: Personal Finance (Not Investing)
Topic: Big 4 Who Jumped to Industry - Compensation
Replies: 35
Views: 9532

Re: Big 4 Who Jumped to Industry - Compensation

Comparing similar jobs from big 4 to private, the comp is roughly similar. Private might pay 10-20% higher depending on industry. That is when comparing similar jobs (Sr associate vs Sr accountant). Advantage of big 4 is that your growth within the firm is nearly gauranteed, as long as you do well. ...
by NJ-Irish
Sun Jul 08, 2018 4:27 pm
Forum: Investing - Theory, News & General
Topic: Girls and investing
Replies: 115
Views: 6677

Re: Girls and investing

My first exposure to investing was around 11 with a school competition to manage a paper portfolio of $10,000 for 6 weeks. I remember for that six weeks my team “bought” a small amount of McDonald’s shares, not nearly $10k worth of shares, and because the market went down during those 6 weeks we en...
by NJ-Irish
Sat Jul 07, 2018 10:31 pm
Forum: Investing - Theory, News & General
Topic: Girls and investing
Replies: 115
Views: 6677

Re: Girls and investing

My first exposure to investing was around 11 with a school competition to manage a paper portfolio of $10,000 for 6 weeks. I remember for that six weeks my team “bought” a small amount of McDonald’s shares, not nearly $10k worth of shares, and because the market went down during those 6 weeks we en...
by NJ-Irish
Sat Jul 07, 2018 9:58 pm
Forum: Investing - Theory, News & General
Topic: Girls and investing
Replies: 115
Views: 6677

Re: Girls and investing

My first exposure to investing was around 11 with a school competition to manage a paper portfolio of $10,000 for 6 weeks. I remember for that six weeks my team “bought” a small amount of McDonald’s shares, not nearly $10k worth of shares, and because the market went down during those 6 weeks we end...
by NJ-Irish
Wed Jul 04, 2018 4:17 am
Forum: Personal Finance (Not Investing)
Topic: 25-year-old military vet/undergrad student in search of advice
Replies: 11
Views: 1135

Re: 25-year-old military vet/undergrad student in search of advice

I’ll repeat what everybody else has said that college is an investment in yourself. Try not to spend too much time on your net worth figures. Your primary “job” in school is to keep your grades high and prepare for your eventual job field. If you are looking for a part-time job I’d try to find one t...
by NJ-Irish
Mon Jul 02, 2018 6:23 am
Forum: Personal Finance (Not Investing)
Topic: What are your property taxes?
Replies: 375
Views: 24153

Re: What are your property taxes?

Jersey City, New Jersey - Property Taxes - there was a recent revaluation for the first time in 30 years. On a $572k house I pay 1.6%/$9k Sales taxes is 6.625% Income tax is 6.375% LTCG taxed as ordinary income. There are probably other taxes I am missing. Schools are terrible. Streets are falling a...
by NJ-Irish
Mon Jul 02, 2018 5:51 am
Forum: Investing - Theory, News & General
Topic: Are Hedge funds basically scams?
Replies: 36
Views: 3714

Re: Are Hedge funds basically scams?

The investment objectives of equity market neutral funds is to maintain an overall portfolio beta of zero across all business cycles. They accomplish this strategy by taking short positions to offset long exposure. For example they might pair off a long equity position with a short index postion to ...
by NJ-Irish
Sun Jun 03, 2018 6:24 am
Forum: Personal Investments
Topic: Helping son buy a house
Replies: 33
Views: 3449

Re: Helping son buy a house

Don’t add any strings. Any money which you add to the deal, make sure it’s a gift.
by NJ-Irish
Thu May 31, 2018 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Moving to HCOL, worried, need help.
Replies: 14
Views: 2365

Re: Moving to HCOL, worried, need help.

That sounds like a pain but you might have a warranty if it’s less than two years old. I’d get in touch with the builder and ask him to inspect. If in fact there are issues, then the builder can remedy. Don’t assume the cost will be 100% your responsibility. With regards to your move, dont try to en...
by NJ-Irish
Wed May 30, 2018 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Moving to HCOL, worried, need help.
Replies: 14
Views: 2365

Re: Moving to HCOL, worried, need help.

Hey there - I’m happy to give a few suggestions. First off, it sounds like this rotation has been treaded before. Try checking out resources in your military network. If there are any relocation officers, friends, coworkers who have made this switch before they can probably give you some good advice...