Search found 993 matches

by goodenyou
Thu Apr 20, 2017 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: 1 million minimum MM at Fidelity
Replies: 4
Views: 1413

Re: 1 million minimum MM at Fidelity

Or you can put $250K into 4 different High-Yield Savings accounts that pay 1.05% (gsbank, synchrony, etc.). I don't get why people are putting money in MMs that are below savings account rates. Is it so money can be moved without 24-hour ACH transfer (e.g. in case I want to time the market and shif...
by goodenyou
Thu Apr 20, 2017 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about 529
Replies: 4
Views: 625

Re: Questions about 529

A_C_E wrote:If the questions are complex can anyone tell me whom to ask? Uesp doesn't know even. Nor does My accountant.


http://www.savingforcollege.com/
by goodenyou
Thu Apr 06, 2017 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Low-earners- What is your profession?
Replies: 262
Views: 23430

Re: Low-earners- What is your profession?

Medical schools don't ban you from working while in school, but it would be very difficult to do so. I worked while in medical school, as part of a work-study scholarship to pay my tuition. I helped teach Neuroscience and ran a lab. I also did some free-lance computer programming on the side. That ...
by goodenyou
Wed Apr 05, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Low-earners- What is your profession?
Replies: 262
Views: 23430

Re: Low-earners- What is your profession?

Astounding. I have not personally heard of student debt approaching that, though I suppose it is possible. But if they each took jobs paying $300K/year (less than median surgeon salary), lived off $200K/year pre-tax (quite a luxurious budget right out of school), and put $400K/yr into paying off th...
by goodenyou
Wed Apr 05, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Low-earners- What is your profession?
Replies: 262
Views: 23430

Re: Low-earners- What is your profession?

I have heard of a doctor couple who has 1.2 million in student loan debt. Astounding. I have not personally heard of student debt approaching that, though I suppose it is possible. But if they each took jobs paying $300K/year (less than median surgeon salary), lived off $200K/year pre-tax (quite a ...
by goodenyou
Fri Mar 31, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Not opting for 529... anyone else?
Replies: 175
Views: 9867

Re: Not opting for 529... anyone else?

Folks, 1) Many members of my friends and family are self-made millionaires. Some never entered high school. Some have graduate degrees. 2) We, uncles and aunties, sponsored many of our nephews and nieces (not our own children) through US colleges over the last 10+ years. 50% of them dropped out wit...
by goodenyou
Tue Mar 28, 2017 10:52 am
Forum: Investing - Help with Personal Investments
Topic: MSPGX (expense .79%) vs. Stable Value @ 3% return ??
Replies: 26
Views: 1223

Re: MSPGX (expense .79%) vs. Stable Value @ 3% return ??

You could choose the low cost equities fund in your tax privilege space and a tax-free intermediate Vanguard fund in your taxable space. I was faced with the same problem in my high cost and poor choice 401k plan at work. 3% is pretty good for a SVF.
by goodenyou
Wed Mar 22, 2017 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 102
Views: 5479

Re: Vehicles as a percentage of net worth

3 cars and 0.83% of my net worth
by goodenyou
Sat Mar 18, 2017 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: "Millionaire Next Door" Net Worth Formula
Replies: 169
Views: 15051

Re: "Millionaire Next Door" Net Worth Formula

10x your adjusted gross income at age 50 seems very possible for someone who LBYM and invests early. I would think average of income would be applied.
by goodenyou
Wed Mar 15, 2017 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Question for Docs/Surgeons/ARNPs
Replies: 23
Views: 2919

Re: Question for Docs/Surgeons/ARNPs

If your wife spent 16 years in nursing, she is not very young. Presumably, neither are you. If she is signing in up for every 4th night of call, uncompensated, that will get old very fast. Physicians have volunteered (and most still do) for uncompensated call for many years. They volunteered to take...
by goodenyou
Thu Mar 09, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 271
Views: 38375

Re: Physician Retirement Savings

[quote="PhysicianOnFIRE] Great blog and nice post. Regarding geographic arbitrage, most salary comparisons between urban vs rural and between geographic regions do not break down the data to account for differences in distribution of practice types which exist. Particularly in procedural speci...
by goodenyou
Wed Mar 08, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 271
Views: 38375

Re: Physician Retirement Savings

I know a physician who is happy to work in California "after" she worked and saved for many years in a rural mid west practice. Her current salary does not support her current lifestyle. Her prior savings and current salary adequately support her lifestyle. After working in Texas for many...
by goodenyou
Tue Mar 07, 2017 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 271
Views: 38375

Re: Physician Retirement Savings

I am happy for you and would love to do the same. With kids and their college coming up, travel and house expenses it would be tough to lose the income. It is also scary in early 40s to just give up the prospect of financial independence In early to mid 50s by saving large amounts. Doing what you d...
by goodenyou
Tue Mar 07, 2017 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Retirement Savings
Replies: 271
Views: 38375

Re: Physician Retirement Savings

Physicians are accustomed to achievement. They have a very long pathway (and often painful) to final certification to practice medicine or perform surgery. Retirement also requires physicians to give up their identity as a doctor. It is near impossible to return to the practice of medicine after giv...
by goodenyou
Mon Mar 06, 2017 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should the money earmarked for certain expenses be part of net worth?
Replies: 52
Views: 3324

Re: Should the money earmarked for certain expenses be part of net worth?

Technically yes. I think what you are describing are sunk costs. I don't include them. An example of a sunk cost is the kids' cost of education and their 529. I am spending it now and hope to spend it all on their education. I don't expect to have even a dime left over. It is also not an insignifica...
by goodenyou
Mon Mar 06, 2017 12:06 am
Forum: Personal Finance (Not Investing)
Topic: Searched forum, unsuccessful, how to find doctors who take Medicare
Replies: 62
Views: 3218

Re: Searched forum, unsuccessful, how to find doctors who take Medicsre

The issue here is "payer mix" Most physicians and health care organizations indeed take medicare. But there is a significant gap between payments from medicare and private insurance for the same services. So for a given practice, the mix of government (medicare, medicaid, tricare) vs priv...
by goodenyou
Sat Feb 25, 2017 12:00 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing -> Market Crash and rebalancing
Replies: 42
Views: 2136

Re: Rebalancing -> Market Crash and rebalancing

If you don't want to rebalance during a significant drop, have a larger emergency fund. Depleting fixed income to rotate it into a risk-on environment would be unnerving. I have a 2-3 year emergency fund in cash and I Bonds. If all hell breaks loose, you will probably need to rebalance into guns and...
by goodenyou
Fri Feb 24, 2017 9:03 am
Forum: Investing - Theory, News & General
Topic: Warren Buffets Bet almost over
Replies: 7
Views: 2647

Re: Warren Buffets Bet almost over

I like how at the end of the video they quote the person on the other side of the bet as saying "it's been an unusual 10 years for the market". I would have thought hedge funds should do better in an unusual market than an ordinary market. Unusual markets should give more opportunities fo...
by goodenyou
Wed Feb 22, 2017 12:21 pm
Forum: Investing - Help with Personal Investments
Topic: "High conviction investing"
Replies: 26
Views: 1505

Re: "High conviction investing"

It is Orwellian doublespeak.
by goodenyou
Wed Feb 22, 2017 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead Millionaire
Replies: 65
Views: 7993

Re: New Boglehead Millionaire

Here at Bogleheads.org it's affectionately known as "The Two-Comma Club". Congratulations.
by goodenyou
Sun Feb 19, 2017 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase a $1 Million dollar home with all cash?
Replies: 43
Views: 5589

Re: Should we purchase a $1 Million dollar home with all cash?

Having a mortgage on a home is to provide a lifestyle for your family that you cannot otherwise afford. I don't think it would be wise to borrow the equity out of your home and leverage it into the stock market. Therefore, I think it would be the equivalent to putting less down on the home and putti...
by goodenyou
Mon Feb 13, 2017 9:06 pm
Forum: Investing - Help with Personal Investments
Topic: Who would quit playing if they already won?
Replies: 106
Views: 11167

Re: Who would quit playing if they already won?

While I''m not sure I've won the game, I have a big lead going into the 4th quarter and think it prudent to play conservatively to protect that lead


It didn't work out too well for the Atlanta Falcons, so be careful. :D
by goodenyou
Mon Feb 13, 2017 9:05 pm
Forum: Investing - Help with Personal Investments
Topic: Who would quit playing if they already won?
Replies: 106
Views: 11167

Re: Who would quit playing if they already won?

It would depend on my ability and desire to return to work. If I were old and/or infirm, I would have much less risk tolerance. Like others have said, I would set aside an amount necessary to meet all my absolute needs in a nearly risk-free investment (FDIC-insured etc.), and let a small portion of ...
by goodenyou
Sun Feb 05, 2017 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Milestone and gotta tell someone
Replies: 61
Views: 5727

Re: Milestone and gotta tell someone

Our good friends live in Texas and they pay 3%ish I think. They will be moving out eventually when they retire because of this. Our taxes are 1.01% and thanks to Prop 13, the valuation is currently less than half of what our house is worth (max 2% valuation increase yearly). Our state income tax of...
by goodenyou
Fri Feb 03, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Park Emergency Fund to protect against inflation
Replies: 32
Views: 3891

Re: Where to Park Emergency Fund to protect against inflation

Thanks everyone for your great advice. i am considering the following options 1. $25,000 in Cash at Savings Account (CapitalOne360 - where it is currently at) 2. $20,000 in iBonds but laddered over 2 years so they would complete 1 year limit at different intervals. 3. $20,000 in CD Ladders. (Will h...
by goodenyou
Fri Feb 03, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Milestone and gotta tell someone
Replies: 61
Views: 5727

Re: Milestone and gotta tell someone

Congratulations! Enjoy the milestone and revel in it. I suggest buying a new lockset for your main door to remind you that it's all yours now :) I wish it were that way. I am in Texas, and although I have paid off my house years ago, I have to write a very large check to the property tax authority ...
by goodenyou
Mon Jan 30, 2017 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 56
Views: 6974

Re: Anyone moved to another state for lower cost of living?

Raising children in a LCOL area was also easier. Having more affordable space for a large family, less traffic to cart kids around to their sport and school activities and a lot of cheaper paid help to give parents time to coach and travel with the kids was a bonus.
by goodenyou
Mon Jan 30, 2017 6:53 pm
Forum: Personal Consumer Issues
Topic: Is joining a country club a character flaw?
Replies: 101
Views: 8538

Re: Is joining a country club a character flaw?

I don't think it's a flaw. But then again, I have a passion for golf. I play or practice many times per week. I would not admit how much I would be willing to spend when I finally move to a new place and join a nice country club. It's part of my retirement plan.
by goodenyou
Mon Jan 30, 2017 3:24 pm
Forum: Investing - Theory, News & General
Topic: Risk tolerance when you meet your number
Replies: 106
Views: 10260

Re: Risk tolerance when you meet your number

Forgive me if I am repeating the sentiment of others on this post, but my strategy would be to "de-risk" my portfolio by gravitating toward lower risk assets that would cover all my needs and some of my wants. As this number got larger, and I reached a point that it was near certain that m...
by goodenyou
Sun Jan 29, 2017 8:38 pm
Forum: Investing - Theory, News & General
Topic: Why are Stable Value Funds not outperforming Total Bond over the long run?
Replies: 17
Views: 2623

Re: Why are Stable Value Funds not outperforming Total Bond over the long run?

For portfolio analysis and asset allocation, how do you characterize SV assets, bond or cash equivalents? I, too, have chosen SV in my 401k since bond funds in this environment have underperformed and the expense ratios don't seem to warrant bond fund exposure. Couple that with interest rate risk, a...
by goodenyou
Sat Jan 28, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 56
Views: 6974

Re: Anyone moved to another state for lower cost of living?

The disparity in taxes between states for a high income earner can be as powerful as the lower cost of living. Additionally, the temptation to spend more in a HCOL area to create the lifestyle that is afforded in a LCOL can be anathema to wealth building (ie belonging to a fancy country club or buy...
by goodenyou
Thu Jan 26, 2017 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 56
Views: 6974

Re: Anyone moved to another state for lower cost of living?

The disparity in taxes between states for a high income earner can be as powerful as the lower cost of living. Additionally, the temptation to spend more in a HCOL area to create the lifestyle that is afforded in a LCOL can be anathema to wealth building (ie belonging to a fancy country club or buyi...
by goodenyou
Wed Jan 25, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 56
Views: 6974

Re: Anyone moved to another state for lower cost of living?

I moved to Texas 20+ years ago from Chicago. Grew up in New York (Western). I moved for geographic arbitrage. It has worked out very well. I am light years ahead of my colleagues, and I have the ability to retire very well at 50. My plan was to race to financial independence. Now, I plan to move to ...
by goodenyou
Wed Jan 25, 2017 11:23 am
Forum: Investing - Help with Personal Investments
Topic: % taxable bonds needed for rebalancing taxable equity?
Replies: 26
Views: 1626

Re: % bonds for rebalancing taxable equity rule of thumb?

If your taxable account has a fixed asset allocation (at 100% equities, for example), how are you able to have an overall asset allocation strategy in your portfolio? My taxable:tax-privileged ratio is 3:1. I would be way over exposed to equities at 100% in my taxable account.
by goodenyou
Mon Jan 23, 2017 3:03 pm
Forum: Investing - Theory, News & General
Topic: "Stealth Wealth: I’m Just an Ordinary Average Guy"
Replies: 331
Views: 56429

Re: "Stealth Wealth: I’m Just an Ordinary Average Guy"

TheTimeLord wrote:
VictoriaF wrote:Does lingerie count as stealth wealth? Or it's just a secret.

Victoria


Depends on if it highlights or conceals valuable assets.



If it's made-to-measure like Buffet's suits, then I am going into a new line of business :wink:
by goodenyou
Thu Jan 19, 2017 1:08 pm
Forum: Investing - Theory, News & General
Topic: "Stealth Wealth: I’m Just an Ordinary Average Guy"
Replies: 331
Views: 56429

Re: "Stealth Wealth: I’m Just an Ordinary Average Guy"

My wife went back to work in her late 40s after staying at home with 3 kids. She got her masters degree as a NP when we had 3 small children. Our net worth is multiples of what most would consider a lot of "retirement money". We are at 50x annual expenses and we live way below our means. C...
by goodenyou
Tue Jan 17, 2017 5:09 pm
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 17723

Re: "Millennials may need to double how much they save for retirement"

Lots of interesting statistics, but lots of misinterpretation of those stats as well. :) Which part do you believe was misinterpreted? My original point was that student loans are a significant barrier for many Millennials. You asserted that most Millennials don't even go to college. I demonstrated...
by goodenyou
Mon Jan 16, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA for High Net Worth Parents?
Replies: 71
Views: 6761

Re: FAFSA for High Net Worth Parents?

Didn't even bother. Just wrote the check. Merit based scholarships wanted financial information as well.
by goodenyou
Fri Jan 13, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 141
Views: 17337

Re: Best Financial Moves You've Made

Waiting until I was in my 30s to get married. I avoided marrying the other soul mates that would have very likely led to financial disaster. Living below means and decision on geographic arbitrage have led to significant financial rewards. Boglehead philosophy is right up there at the top as well.
by goodenyou
Mon Jan 09, 2017 9:08 am
Forum: Personal Consumer Issues
Topic: Turned 30! Women's advice for skin care??
Replies: 60
Views: 3214

Re: Turned 30! Women's advice for skin care??

Stay out of the sun and never smoke. 2 killers of skin and behaviors that age skin very rapidly.
by goodenyou
Sun Jan 08, 2017 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 7501

Re: Doctors and retirement

How would you know? Medicine is the prototypical asymmetric information field. You have no idea if the doctor was ever any good let alone at presently In emergencies you are stuck. For anything else, there are plenty of sources of information. There are maintenance of certification requirements. On...
by goodenyou
Sat Jan 07, 2017 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 7501

Re: Doctors and retirement

I think a significant part of wanting $5-10M is being able to have $5-10M. Once that sort of thing becomes possible, one starts thinking about what he would do if he had $200-400K a year in income in retirement. I'm confident I could spend/give that sum away fairly easily. But when you're making $1...
by goodenyou
Sat Jan 07, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 7501

Re: Doctors and retirement

I have several friends who have amassed a mid to high 8-figure net worth. Nobody ever questions their consumption. They did not save any lives or ever do any surgery. They are not doctors. Why do we question how much a doctor makes, saves or doesn't save? There are fools that waste their money in ev...
by goodenyou
Thu Jan 05, 2017 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Don't Shoot. Questioning 401k
Replies: 28
Views: 3042

Re: Don't Shoot. Questioning 401k

I've been reading a lot on this forum and I get the general consensus of how conservative and retirement-focused this community is. I've used feedback from folks here to fight our bad 401k program at my previous job and made lots of great changes. As I elect to participate in my new 401k plan (no m...
by goodenyou
Tue Jan 03, 2017 2:32 pm
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 29340

Re: Whats your number to walk away?

I could walk away today, but I am still young (51) and legacy for my kids is important to my wife and me. My job is tolerable and my wife has a great job with great benefits. I don't want to retire and still have her working. I would be on the golf course everyday :D The cash burn now with college c...
by goodenyou
Tue Jan 03, 2017 10:13 am
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 29340

Re: Whats your number to walk away?

2.5M ( Walked last year) 2.8M start of new year 61/66 y/o 105K in pensions and SS Corp. retiree health insurance @ $224 / month for spouse No Debt LCOL area No kids May be a little off track, but did you ever regret not having kids? We are at 29 and 28 ourselves and we both hate kids (other people'...
by goodenyou
Tue Dec 27, 2016 8:34 am
Forum: Personal Finance (Not Investing)
Topic: I'll never save a 20% down payment. Rent for life?
Replies: 138
Views: 13323

Re: I'll never save a 20% down payment. Rent for life?

You are young. I would seriously consider looking at the possibility of getting additional training or education that would increase your income potential. You appear to be very organized and responsible. You cannot continue to drive down your standard of living as COL rises. It is not sustainable.
by goodenyou
Sun Dec 18, 2016 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Stress
Replies: 38
Views: 6449

Re: Financial Stress

After reading through this post and the responses, what I have come to realize (reaffirm) is that there are some really kind and thoughtful people on this forum. As to the OP, my advice is similar to others. Life has peaks and valleys. While we stress planning for the future, the moment is most impo...

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