Search found 1050 matches

by goodenyou
Thu Oct 19, 2017 11:31 am
Forum: Investing - Theory, News & General
Topic: Sitting on cash....Waiting for a crash
Replies: 154
Views: 23716

Re: Sitting on cash....Waiting for a crash

Investors that are kept up at night with the prospect of losing money on paper and are compelled to increase liquidity are also kept up at night with the prospect of not meeting their investment goals. Market timing does work. It is successful when you get out (reduce your position) after you have r...
by goodenyou
Thu Oct 19, 2017 10:45 am
Forum: Investing - Theory, News & General
Topic: The overselling of international diversification
Replies: 56
Views: 4478

Re: The overselling of international diversification

I respect the "Armageddon" argument for buying foreign stocks, but it's overdone, IMO. For example, I don't understand is why anyone who is willing to something as significant as investing their hard-earned money in foreign stocks as a hedge apparently doesn't consider other hedges that would make ...
by goodenyou
Wed Oct 18, 2017 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 3281

Re: Is a doctor's practice one of the safest and most profitable businesses?

Another point, which I can't speak to from personal experience, is that doctors, veterinarians, etc. can and do sell their practices. Indeed, the business model for a sole-proprietorship practice pretty much assumes that you can sell the practice at the end, otherwise it isn't a very good business ...
by goodenyou
Wed Oct 18, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 3281

Re: Is a doctor's practice one of the safest and most profitable businesses?

I know a lot of docs who are hardly making a go of it these days, and many more who've sold out to hospitals simply so they can take home a paycheck. Now I agree there are plenty of others making a ton. Medicine is an odd type of business model. In private practice the doc gets paid on a "per servi...
by goodenyou
Wed Oct 18, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Is a doctor's practice one of the safest and most profitable businesses?
Replies: 58
Views: 3281

Re: Is a doctor's practice one of the safest and most profitable businesses?

OP, If you get a chance, read the book, "The Millionaire Next Door". The most profitable small businesses are junkyards and pawn shops. KlangFool Read it already and reading it is one of the reasons for my post. It says the most profitable businesses are coal mining # 1 and then office of physician...
by goodenyou
Wed Oct 11, 2017 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3891

Re: Protecting against the possibility of a correction?

It appears that the common wisdom here (in a Bogle philosophy) is that the greatest risk is the attempt to mitigate risk with a complicated strategy. Bogle is often attributed with the remark "don't do something, stand there" during times of turbulence. Protecting against a correction is market tim...
by goodenyou
Wed Oct 11, 2017 2:45 pm
Forum: Investing - Help with Personal Investments
Topic: Protecting against the possibility of a correction?
Replies: 45
Views: 3891

Re: Protecting against the possibility of a correction?

It appears that the common wisdom here (in a Bogle philosophy) is that the greatest risk is the attempt to mitigate risk with a complicated strategy. Bogle is often attributed with the remark "don't do something, stand there" during times of turbulence. Protecting against a correction is market timi...
by goodenyou
Wed Oct 11, 2017 11:34 am
Forum: Investing - Help with Personal Investments
Topic: Anesthesiologist Advise [how to save money]
Replies: 45
Views: 5539

Re: Anesthesiologist Advise [how to save money]

You will get "there". How fast and by how much is the question. Living in California on $300k is much better than many. You will pay a lot more taxes than other places, and the cost of living will be more. How one defines cost of quality of life is subjective. The size of home, use of services that ...
by goodenyou
Tue Oct 10, 2017 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: Anesthesiologist Advise [how to save money]
Replies: 45
Views: 5539

Re: Anesthesiologist Advise [how to save money]

I moved to an ultra LCOL and did the geographic arbitrage (in the old days of medicine-20+ years ago). Spent less and made more with additional investment opportunity. I spent the first 5 years living in a small home and paid off all debt. The next 5 years I lived way below my means, but I was still...
by goodenyou
Wed Oct 04, 2017 8:55 am
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16233

Re: $10 million+ - Still Working and LBYM

And you're right - I don't see real estate in good areas of NYC/SF/LA as being "risky". Sure, anything could happen, but losing money on that would be at the very bottom of my worry list when considering history. Must be recent history.....NYC real estate was destroyed in the 70s and 80s; an old ne...
by goodenyou
Wed Oct 04, 2017 8:42 am
Forum: Investing - Theory, News & General
Topic: Does anyone hold cash?
Replies: 58
Views: 5547

Re: Does anyone hold cash?

Yes. I am 55/35/10 stocks/bonds/cash. I am still working, but I hold cash for the option to make large purchases. If I am contemplating buying a car, I have the option and can proceed without depleting an emergency fund allocated for emergencies. We are considering building a new house. No definite ...
by goodenyou
Tue Oct 03, 2017 9:20 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16233

Re: $10 million+ - Still Working and LBYM

Among possible triggers: * Unfavorable tax changes at the city/state/national level * Unfavorable developments in the industry(s) that these cities dominate (tech, entertainment, finance, etc) * Shifts in those industries to cheaper areas * Political/social discord and/or spike in crime leads to lo...
by goodenyou
Sun Oct 01, 2017 2:33 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16233

Re: $10 million+ - Still Working and LBYM

We are peaking in spending with 2 college kids and one soon to enter. Young adult children are very expensive. We are finding that excessive spending on trying to maintain a large home with tremendous maintenance, property taxes, gardeners, pool maintenance is not how we want to spend money. Earnin...
by goodenyou
Sun Oct 01, 2017 10:42 am
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16233

Re: $10 million+ - Still Working and LBYM

To support our current spending level I calculate we would need about $20 million of financial assets at a 4% withdrawl rate to yield $800,000 per year pretax which would translate into $500,000 a year after tax. The $100k tuition and part of the $125,000 on kids sports don't continue forever. If y...
by goodenyou
Sun Oct 01, 2017 10:06 am
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16233

Re: $10 million+ - Still Working and LBYM

We are peaking in spending with 2 college kids and one soon to enter. Young adult children are very expensive. We are finding that excessive spending on trying to maintain a large home with tremendous maintenance, property taxes, gardeners, pool maintenance is not how we want to spend money. Earning...
by goodenyou
Sat Sep 30, 2017 8:50 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 192
Views: 12833

Re: Why do you LBYM? Why do you save and invest?

If you are comparing cultural differences between Americans and Asians, I would imagine that the idea of self-reliance and the (lack of) a social safety net comes into play. Without digressing into forbidden politics, I believe the welfare system may have some impact on savings rates. Americans als...
by goodenyou
Fri Sep 29, 2017 4:18 pm
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 192
Views: 12833

Re: Why do you LBYM? Why do you save and invest?

If you are comparing cultural differences between Americans and Asians, I would imagine that the idea of self-reliance and the (lack of) a social safety net comes into play. Without digressing into forbidden politics, I believe the welfare system may have some impact on savings rates. Americans also...
by goodenyou
Thu Sep 28, 2017 11:00 am
Forum: Investing - Theory, News & General
Topic: Guy proves that Buy The Dip strategy works (via backtests) any rebuttals?
Replies: 65
Views: 6424

Re: Guy proves that Buy The Dip strategy works (via backtests) any rebuttals?

alpenglow wrote:
Thu Sep 28, 2017 9:25 am
This post made me think, when was the last RBD?
I had one yesterday. The kids, the dog and work.
by goodenyou
Thu Sep 28, 2017 9:08 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 192
Views: 12833

Re: Why do you LBYM? Why do you save and invest?

Can you really tell how people will invest and save throughout their lives based on how they read a McDonald's menu?
It may be the new Mischel Marshmallow Study.
by goodenyou
Thu Sep 28, 2017 8:49 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 192
Views: 12833

Re: Why do you LBYM? Why do you save and invest?

It's simple. Freedom and choices. Money is earned with hard work. I will be damned if I will give away my hard work by being a fool. I feel like a fool if I overpay. I do not like feeling like a fool. LBYM is a strategy that leads to economic freedom, a reverence for simplicity (the things that actu...
by goodenyou
Wed Sep 27, 2017 1:19 pm
Forum: Personal Consumer Issues
Topic: Shower heads, recent experience?
Replies: 18
Views: 1696

Re: Shower heads, recent experience?

staythecourse wrote:
Wed Sep 27, 2017 11:51 am
Best shower head I have used was a simple speakman. Just have the flow restrictor removed (plenty of videos on Youtube).

Good luck.
Yep. A good pair of needle-nosed pliers will do the trick.
by goodenyou
Wed Sep 27, 2017 1:03 pm
Forum: Personal Consumer Issues
Topic: Shower heads, recent experience?
Replies: 18
Views: 1696

Re: Shower heads, recent experience?

Be careful with some Delta shower faucets. They have a terrible design flaw. In some models, there is a recessed hex set screw that attaches the handle to the shower cartridge, The hex screw corrodes over time and it becomes impossible to remove the handle to replace the cartridge when the cartridg...
by goodenyou
Wed Sep 27, 2017 8:45 am
Forum: Personal Consumer Issues
Topic: Shower heads, recent experience?
Replies: 18
Views: 1696

Re: Shower heads, recent experience?

I am a Speakman fan. Not that I would do it, but you can remove the flow restrictor and get great water pressure. Tried many and Speakman is best IMO. It is used in many high end hotels. Be careful with some Delta shower faucets. They have a terrible design flaw. In some models, there is a recessed ...
by goodenyou
Tue Sep 26, 2017 9:37 pm
Forum: Investing - Theory, News & General
Topic: No More Saving???
Replies: 114
Views: 10462

Re: No More Saving???

I save a lot less than I have in the past. Still max out all tax-privileged space for both wife and myself. Both high earners over 50. Cash burn is tremendous with 2 college aged kids and one 9th grader. Thankfully, our current household income is many times our projected retirement needs. Saved a l...
by goodenyou
Sat Sep 23, 2017 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Would you get flood insurance?
Replies: 25
Views: 1403

Re: Would you get flood insurance?

I live in South Texas 1 hour west of the Gulf. Never been flooded. No significant hurricanes in 21 years. Near miss on Harvey. For $1.30/day, it's well worth the piece of mind.
by goodenyou
Fri Sep 22, 2017 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Home Equity Disproportionate to Investments
Replies: 18
Views: 1664

Re: Home Equity Disproportionate to Investments

If you find a great place to live and you are happy, then home appreciation has a double-edged sword. You can feel good that it appreciated in potential value, and feel lousy that you get to pay higher taxes on a gain you haven't realized. The only way to feel ultimate financial freedom is to have m...
by goodenyou
Tue Sep 19, 2017 11:01 am
Forum: Investing - Help with Personal Investments
Topic: 529 asset allocation
Replies: 1
Views: 223

Re: 529 asset allocation

If you have funded their education sufficiently, there is little need to take risk. I would Use a fixed asset allocation of 40% Total Stock Market Index, 40% Total Bond Index and 20% FDIC. It also depends on your "reserves". If there is a major decline like 2008, you want to be sure you have enough ...
by goodenyou
Sun Sep 17, 2017 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Pocket money allowance for college student
Replies: 48
Views: 2670

Re: Pocket money allowance for college student

$400/month. He lives in an apartment and it is for food/gas and incidentals. He also works as a life guard at the campus' natatorium. He makes $13/hr guarding Olympic gold medal swimmers, if you can believe it. He wasn't even a swimmer in high school. I am fortunate that he is one of those kids that...
by goodenyou
Sun Sep 10, 2017 7:38 pm
Forum: Investing - Theory, News & General
Topic: When Genius Failed by Roger Lowenstein
Replies: 31
Views: 6444

Re: When Genius Failed by Roger Lowenstein

I really liked this book. I was also amazed when my close friend from high school was referenced in the book. He was (is) a genius. By far the smartest person I have known. His story of rising from an MIT engineering graduate to a finance pioneer was truly amazing.
by goodenyou
Wed Sep 06, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 8704

Re: When calculating net worth, how do you value your house?

I exclude it. It makes my balance sheet look a lot worse, since it is paid off and worth a significant amount. Not including it forces me save more to get to FI.
by goodenyou
Wed Sep 06, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 8704

Re: When calculating net worth, how do you value your house?

I value it as a place to live in. When I die, it will have value to my heirs. If I sell it before I die, and I can utilize the cash difference between renting and the lump sum from the sale of my house, then I will value it differently. Of course, it has value from a strict accounting perspective. H...
by goodenyou
Tue Aug 29, 2017 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: 529 for R&B-Off Campus Housing
Replies: 17
Views: 1437

Re: 529 for R&B-Off Campus Housing

obafgkm wrote:
Tue Aug 29, 2017 6:00 am
When I saw the subject, my first thought was that "529s can pay for off-campus housing, but I doubt they can pay for Rhythm and Blues..."
At these costs, it's the Blues for sure.
by goodenyou
Tue Aug 29, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: 529 for R&B-Off Campus Housing
Replies: 17
Views: 1437

Re: 529 for R&B-Off Campus Housing

Reason? You don't have the right to live in the lap of luxury and claim it's a college expense. Attending a school that is not commuting distance from your home certainly requires housing at or near campus, but not first class luxury accommodations. No "lap of luxury". It is within the limits of th...
by goodenyou
Mon Aug 28, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: 529 for R&B-Off Campus Housing
Replies: 17
Views: 1437

Re: 529 for R&B-Off Campus Housing

That quote from Pub. 970 says to use the estimate for federal financial aid purposes by the institution for "a particular academic period and living arrangement of the student" so what does the institution say about the cost of the particular living arrangement? Many colleges provide estimates for ...
by goodenyou
Sat Aug 26, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: 529 for R&B-Off Campus Housing
Replies: 17
Views: 1437

Re: 529 for R&B-Off Campus Housing

That quote from Pub. 970 says to use the estimate for federal financial aid purposes by the institution for "a particular academic period and living arrangement of the student" so what does the institution say about the cost of the particular living arrangement? Many colleges provide estimates for ...
by goodenyou
Sat Aug 26, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: 529 for R&B-Off Campus Housing
Replies: 17
Views: 1437

529 for R&B-Off Campus Housing

Does anyone know what the limit for qualified distributions for room and board expenses are if there are different published costs based on room type? For example, a single dorm is more expensive than shared space with a community bathroom. If the equivalent off campus rental to the university dorm ...
by goodenyou
Thu Aug 17, 2017 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

goodenyou wrote:
Thu Aug 17, 2017 7:30 pm
neurosphere wrote:
Thu Aug 17, 2017 5:24 pm
sawhorse wrote:
Thu Aug 17, 2017 4:38 pm
goodenyou wrote:
Thu Aug 17, 2017 2:37 pm
Just out of curiosity, how much were you billed? Most 99212 charges are minimal. I think Medicare reimburses close to $25 for a 99212. It is less than 1 RVU.
$50
My boss(es) would be thrilled to have me bill $50 for a refill. :moneybag
deleted
by goodenyou
Thu Aug 17, 2017 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

Just out of curiosity, how much were you billed? Most 99212 charges are minimal. I think Medicare reimburses close to $25 for a 99212. It is less than 1 RVU. $50 My boss(es) would be thrilled to have me bill $50 for a refill. :moneybag My boss (myself) would be thrilled as well. Try running a derma...
by goodenyou
Thu Aug 17, 2017 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

Just out of curiosity, how much were you billed? Most 99212 charges are minimal. I think Medicare reimburses close to $25 for a 99212. It is less than 1 RVU.
by goodenyou
Tue Aug 15, 2017 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

Ask if it was a mistake or her policy. That's a great way to word it. Thank you so much! Not sure how that helps. If she says it is her policy are you going to say "No you are doing something illegal"? Not likely as that is confrontational. So you are just hoping her answer is "it was a mistake". I...
by goodenyou
Tue Aug 15, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

Ask if it was a mistake or her policy.
by goodenyou
Tue Aug 15, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

Deleted
by goodenyou
Tue Aug 15, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Billing 99212 for rx refill?
Replies: 42
Views: 3504

Re: Billing 99212 for rx refill?

Usually the office staff calls it in after a verbal approval from the doctor. No charge is warranted. Doctors are also not compensated for fielding calls while on call either. They should be, but that is for another discussion.
by goodenyou
Mon Aug 07, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24362

Re: How much money do you want to retire?

And once you get that one, you realize that is NOT enough and need more. I am not criticizing as I am in the same boat. For every million, you get $2,500 per month to "spend". For some, that doesn't go very far to meet their expectations in retirement. If you delay Social Security until 70, and you...
by goodenyou
Mon Aug 07, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24362

Re: How much money do you want to retire?

mega317 wrote:
goodenyou wrote: For every million, you get $2,500 per month to "spend".
That's 3% initial withdrawal, super conservative.

Depends on what age you retire, and it's not so "super" conservative anymore.
by goodenyou
Mon Aug 07, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24362

Re: How much money do you want to retire?

And once you get that one, you realize that is NOT enough and need more. I am not criticizing as I am in the same boat. For every million, you get $2,500 per month to "spend". For some, that doesn't go very far to meet their expectations in retirement. If you delay Social Security until 70, and you...
by goodenyou
Fri Aug 04, 2017 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24362

Re: A poll: How much money do you need to retire?

I need $700,000 in retirement assets and a paid off home to retire at 62. I am 60, with $700,000 in retirement assets and a $40,000 mortgage. I have about 18 months to get the mortgage paid off and achieve my goal. I'm glad to see that there are some "normal" people here. I must say, when net worth...
by goodenyou
Thu Aug 03, 2017 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24362

Re: A poll: How much money do you need to retire?

"I am shocked by the amounts that people are listing. I assume either a) they want to live fairly lavishly or b) they are listing the amount they "want"." I am 52. My NW is over $30mm and I am not convinced I have enough to retire. $22mm stocks, bonds cash, $9mm real estate. No debt. 6 kids. Lots o...
by goodenyou
Thu Aug 03, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24362

Re: A poll: How much money do you need to retire?

Every time I get close to what I think is "critical mass", my number goes up. It's not the number, per se, it is when I can stop working and retire. At the current cash-burn rate with 3 teenage kids (college, cars, etc.,) it seems more distant. With no dependents, it would be low 7 figures in my lat...
by goodenyou
Thu Jun 08, 2017 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Housing is too expensive.
Replies: 49
Views: 6954

Re: Housing is too expensive.

Buying a house that is going to stretch yourself thin is not a good idea. Just because you can cash flow a house doesn't mean you should purchase. As others have said, the linchpin in the decision is the security of the job. The risk of not being able to unload a house, if you have to in the event t...