Search found 983 matches

by ThatGuy
Mon Jul 19, 2021 11:34 am
Forum: Personal Finance (Not Investing)
Topic: What to do when your 529 has something left in it
Replies: 23
Views: 3245

Re: What to do when your 529 has something left in it

Semester at Sea

Probably want to wait out the pandemic a bit.
by ThatGuy
Fri Jul 16, 2021 6:46 pm
Forum: Personal Consumer Issues
Topic: PSA for those planning on visiting National Parks
Replies: 18
Views: 4394

Re: PSA for those planning on visiting National Parks

Ya'll should be aware that the NPS has an official app. You can get all of this information, and download maps, on your mobile device!

https://apps.apple.com/us/app/national- ... 1549226484
by ThatGuy
Thu Mar 18, 2021 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Pressure to start returning to the office from WFH
Replies: 14
Views: 1973

Re: Pressure to start returning to the office from WFH

In a survey we did, 95% of employees said they are more productive remotely. That is simply not true for the most part. Most count their commute time into it. 100% want an option to work remotely forever. 50% want to work at the office 3+ days per week. With a few exceptions we will require employees to be at the office 4 out of 5 days per week when the vaccine is widely available. We have lost a sense of culture, training of newer employees is terrible, overall productivity is down and our billings are starting to waver. We want people like you to be at the office and show our other employees how to do it. Employees are required to wear masks when they are not in their work area. Non-negotiable. Work areas are spaced appropriately. Be pre...
by ThatGuy
Thu Mar 11, 2021 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: America Rescue Plan and Tax Software Updates
Replies: 21
Views: 2528

Re: America Rescue Plan and Tax Software

Is there an issue with just leaving the 1099-G off of the return?
by ThatGuy
Fri Feb 26, 2021 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Private School - financially irresponsible?
Replies: 213
Views: 20700

Re: Private School - financially irresponsible?

There *is* a tradition in the NE, among money, of not flashing it, and of a very Puritan kind of work ethic. Private Wealth Management firms offer courses on teaching your kids how to work with not-for-profit Boards etc. A friend of mine lives in Andover MA - which has the school, with the famous art collection etc. It's a (very affluent) but low key kind of place. I imagine the kids (who could own the kinds of brands that are really exclusive) signal socially to other in ways we can't even read. There have been studies on this. I'm tickled pink that this one comes out of USC. But what inferences are made regarding a woman seen carrying a Bottega Veneta hobo bag ($2,450)? Bottega Veneta’s explicit “no logo” strategy (bags have the brand ba...
by ThatGuy
Thu Feb 25, 2021 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Private School - financially irresponsible?
Replies: 213
Views: 20700

Re: Private School - financially irresponsible?

head wrote: Mon Feb 22, 2021 2:25 pm I'm trying to decide whether it would be financially irresponsible of me to send my two children to private school in the fall (would be starting Kindergarten and plan to stay through 8th grade). The combined cost will be ~25% of net income (after taxes and after maxing out 401(k) and back door IRA contributions).
What else would you spend it on?

I'm as big a proponent of public school as you're likely to find, but my child's education is my number one priority. You've already taken care of taxes and are adequately saving for the future; what's left is discretionary. Spending 25% of discretionary funds on betterment for your child is not irresponsible.
by ThatGuy
Fri Jan 15, 2021 7:30 am
Forum: Investing - Theory, News & General
Topic: Looking for stats: Average/Median age when $1M networth (household) is attained?
Replies: 65
Views: 11348

Re: Looking for stats: Average/Median age when $1M networth (household) is attained?

stoptothink wrote: Fri Jan 15, 2021 7:12 amOf my close friends, three that I can think of certainly already hit that mark, maybe two more will (out of ~50, similarly ~80% with college degrees)
You have 50 close friends? :shock:
by ThatGuy
Sun Jan 03, 2021 7:40 am
Forum: Personal Consumer Issues
Topic: Building a Beach House: Construction Considerations?
Replies: 49
Views: 4787

Re: Building a Beach House: Construction Considerations?

Hire the people that constructed this... https://www.google.com/imgres?imgurl=https%3A%2F%2Fpressfrom.info%2Fupload%2Fimages%2Freal%2F2018%2F10%2F15%2Fa-crowd-of-people-at-a-beach-the-elevated-house-that-the-owners-call-the-sand-palace-on-36th-street-_578889_.jpg%3Fcontent%3D1&imgrefurl=https%3A%2F%2Fpressfrom.info%2Fus%2Fnews%2Foffbeat%2F-200014-among-the-ruins-of-mexico-beach-stands-one-house-built-for-the-big-one.html&tbnid=sG8QuebgmMff8M&vet=12ahUKEwj0zvqY5f_tAhVNHN8KHb08B28QMygBegUIARCnAQ..i&docid=28oLD8k3YH94jM&w=615&h=458&q=only%20house%20on%20gulf%20coast%20still%20standing%20mexico%20beach%20fl&ved=2ahUKEwj0zvqY5f_tAhVNHN8KHb08B28QMygBegUIARCnAQ That's exactly what I was thinking of... Here's the or...
by ThatGuy
Sun Dec 27, 2020 6:05 pm
Forum: Personal Consumer Issues
Topic: College comparisons (and cost estimates) for life sciences
Replies: 51
Views: 3205

Re: College comparisons (and cost estimates) for life sciences

texasdiver wrote: Sun Dec 27, 2020 5:30 pmWhitman actually ranks higher than Reed on some national rankings, for what they are worth.
I thought Reed refuses to play the ratings game, so places like US News guess at their stats?

I don't know that this really applies in this case, but you can get a joint degree with Caltech & Reed.
by ThatGuy
Thu Dec 24, 2020 5:01 pm
Forum: Personal Consumer Issues
Topic: Password storage apps, recommendations?
Replies: 119
Views: 7207

Re: Password storage apps, recommendations?

Looks like Microsoft is updating Authenticator to include autofill.
by ThatGuy
Thu Dec 24, 2020 1:21 pm
Forum: Personal Consumer Issues
Topic: Password storage apps, recommendations?
Replies: 119
Views: 7207

Re: Password storage apps, recommendations?

Security should be viewed holistically. Confidentiality is only one leg of the triangle: integrity and availability are equally important. In the case of login credentials, this implies: A password manager must keep your credentials secret from any unauthorized party A password manager must prevent unexpected changes to your credentials A password manager must ensure your credentials are always accessible when needed For instance, if a password manager only works on one platform, it has failed to keep your credentials available everywhere you need them. This can lead a user towards poor practices like using simpler passwords so they can manually type them out on (eg) their phone. A password manager provides better integrity than a text fil...
by ThatGuy
Thu Dec 24, 2020 12:56 pm
Forum: Personal Consumer Issues
Topic: Password storage apps, recommendations?
Replies: 119
Views: 7207

Re: Password storage apps, recommendations?

stan1 wrote: Thu Dec 24, 2020 12:37 pm
ThatGuy wrote: Thu Dec 24, 2020 11:08 am So how are these extra apps for password management "better" than simply storing your passwords in your browser with a primary password?
Do you use multiple browsers? Firefox, Chrome, Edge, maybe old Internet Explorer even? Maybe Safari on an iPhone or iPad or Mac? Many people do. Do you share some passwords with spouse or children? Many people do that too.
No & No.

But that's besides the point. Technically, how do the two solutions differ? At a high level they both use a vault. The difference seems to be in the behavioral recommendation to have the manager manage everything about passwords, which means there's an issue migrating out when something breaks. Something always breaks with software.
by ThatGuy
Thu Dec 24, 2020 11:08 am
Forum: Personal Consumer Issues
Topic: Password storage apps, recommendations?
Replies: 119
Views: 7207

Re: Password storage apps, recommendations?

So how are these extra apps for password management "better" than simply storing your passwords in your browser with a primary password?

For a specific example, how is 1Password more secure than Firefox?
by ThatGuy
Wed Dec 23, 2020 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Proposition 19 advice needed
Replies: 8
Views: 803

Re: Proposition 19 advice needed

loveeatingpizza wrote: Wed Dec 23, 2020 9:33 am Absolutely contact a attorney. There are a few prop 19 strategies floating around, that would allow you to maintain control but also pass on the lower taxes to your kids. Please do not do an outright transfer to your kids, as there are better options that protect you.

You do not want to DIY as it is complicated.
Help a brother out, please list these strategies that pass on the lower taxes.
by ThatGuy
Sat Dec 19, 2020 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Prop 19 CA Inheritance Property Implications
Replies: 204
Views: 16505

Re: Prop 19 CA Inheritance Property Implications

... Actually, Prop 19 still allows children -- and grandchildren even -- to move into the parents' home and keep the low tax base . What Prop 19 changed was to eliminate the possibility of the kids turning their parents home into a rental (at market rates) and reaping the extra income as a result of the low Prop 13 tax base. That's accurate only if it's the parent's primary residence and the difference between the assessed value and FMV is less than $1MM. Under prop 19 property taxes can go up significantly in cases where children move into a primary residence that has more than a $1MM gain (not uncommon in many areas). My understanding is that prop 13 applies to both house, and the land, which are separately assessed. Does anyone know how...
by ThatGuy
Tue Dec 01, 2020 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: [Updated] Has anyone used a Career Coach for new college graduate?
Replies: 106
Views: 6232

Re: Has anyone used a Career Coach for new college graduate?

Jack FFR1846 wrote: Tue Dec 01, 2020 10:24 am Amazon.
...
It's a place to start.
This whole post made my day. Thank you for sharing it :sharebeer
by ThatGuy
Sun Nov 22, 2020 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Teach kids about charitable giving
Replies: 16
Views: 1129

Re: Teach kids about charitable giving

ThatKid gets an allowance of $X per week. Of that X, he is required to: 1. Put at least 20% into the Savings jar. 2. Put at least 10% in the Charity jar. 3. The remainder is for whatever you please. He is allowed to spend all of the money in the Savings jar around his birthday. However, he is also required to select a charity and contribute all of the money from the Charity jar at the same time. This is intended to teach a few lessons: 1. Junior Bogleheads must be indoctrinated into long term savings :D. But deferred gratification still needs to be realized at some point. 2. Helping others is a constant act. Not a once a year thing only-if-you-didn't-overspend-on-Christmas-gifts. 3. When you have good fortune it is important to think of tho...
by ThatGuy
Mon Nov 16, 2020 8:23 am
Forum: Personal Consumer Issues
Topic: Looking for a knife set
Replies: 100
Views: 9205

Re: Looking for a knife set

Ceramic knives. Buy as you need more.

Santoku
by ThatGuy
Fri Nov 13, 2020 7:47 am
Forum: Investing - Theory, News & General
Topic: What are some good boglehead principles around real estate?
Replies: 53
Views: 10867

Re: What are some good boglehead principles around real estate?

Normchad wrote: Wed Nov 11, 2020 10:55 pm By following these rules, you’ll soon realize that you also have to live in the 1970 240Z. Seriously, I don’t think I’ve met anybody who complies with this......
Just to clarify, these rules were not intended to be taken seriously (by me). Except for the last one, I have seen every "rule" stated as iron clad fact on this board.
by ThatGuy
Fri Nov 13, 2020 7:38 am
Forum: Personal Investments
Topic: Good way of taking advantage of High COL real estate/housing market?
Replies: 9
Views: 1694

Re: Good way of taking advantage of High COL real estate/housing market?

Valuethinker wrote: Fri Nov 13, 2020 5:59 am Did I mention that, apparently, rents are falling as tech companies accept that if you can work efficiently from home in your 1 BR in San Francisco, you can do the same from your house in Salt Lake City? That's got to have long term implications for housing prices in these areas.
I think this is overblown. Yes, rents in SF are down, but if you look at the surrounding suburbs they're up.

Redfin seems to think purchase prices have increased 15.9% in Santa Clara County, and 18% in San Jose.

South Lake Tahoe is only up 21.2%.
by ThatGuy
Wed Nov 11, 2020 6:06 am
Forum: Investing - Theory, News & General
Topic: What are some good boglehead principles around real estate?
Replies: 53
Views: 10867

Re: What are some good boglehead principles around real estate?

Rules for real estate: 1. Somebody might lose a job right now , only count one income. 2. That one income must be the lower of the two. 3. Inflation is not a thing. Don't stretch because your wages will never grow. 4. 30 years is too long. Only consider a 15 year mortgage. Make additional payments. 4. Purchase price not to exceed 50% of your investment account. 5. If you absolutely must violate #4, purchase price cannot exceed 2x of (the lower) annual salary. 6. You live in a VHCOL area? Tough, rules of thumb work for everyone. Better yet, move. There are no benefits to living in an above median area. 7. Oh you mean other than a primary residence? DON'T DO IT! You will lose everything, your wife will leave you, your kids will hate you, and...
by ThatGuy
Wed Nov 04, 2020 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Excel formula help re: calculating tax within brackets
Replies: 21
Views: 3224

Re: Excel formula help re: calculating tax within brackets

All of you VLOOKUP fans should really look into XLOOKUP.
Microsoft wrote:The following example looks in column C for the personal income entered in cell E2, and finds a matching tax rate in column B. It sets the if-not_found argument to return a 0 if nothing is found. The match_mode argument is set to 1, which means the function will look for an exact match, and if it can't find one, it will return the next larger item. Finally, the search_mode argument is set to 1, which means the function will search from the first item to the last.
Image
by ThatGuy
Thu Oct 29, 2020 9:10 am
Forum: Personal Consumer Issues
Topic: Tesla Solar Roof
Replies: 93
Views: 15648

Re: Tesla Solar Roof

Upthread, in May, 2017, I posted: "I looked for data sheets or ANY Tesla technical literature like data sheets to answer questions like how are they wired, what do the connections look like, what is the physical size, etc and didn't find anything. That's a huge red flag. If anyone has a link for that, please post." It's the end of Oct, 2020, and there's one light-info page on solar roof specs on the Tesla website, and no data sheets, install guides, owner guides, or other info available...more than three years later. :shock: This appears to be how the V3 are wired: US20190267932A1 . When I had the same question for the V1 I remember them essentially using solder between the rows, which freaked me out. The V3 makes much more sense...
by ThatGuy
Sun Oct 11, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Would you rather be the richest or poorest person in town?
Replies: 109
Views: 10111

Re: Would you rather be the richest or poorest person in town?

Town A. More affluent neighborhoods tend to be less of a "community" and less laid back IMO. I will take the friendly and laid back community any day of the week. The kids will be fine as long as you raise them right! Nice to not have to argue as much about labels and brands when clothes shopping though. Are you sure affluent people are focused on labels? I always assumed people who aspired to be rich were more focused on these things. My wife went to a fancy private school. Her mother was a teacher so the cost was heavily subsidized. Several of her close friends have trust funds. As in the type of trust fund that allows you to become a writer or musician and not have a real job, and then go out and buy a $1.5 million house (whic...
by ThatGuy
Tue Sep 22, 2020 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Physicians: Should I leave my job?
Replies: 207
Views: 19706

Re: Physicians: Should I leave my job?

I dont think lawyers find themselves making life and death decisions and therfore cannot fathom the stresses of an ER doctor for9 example. The decisions that need to be made whilst a 9 year is bleeding to death from an accident with their mother screaming her lungs out is not something any lawyer can fathom from a corner downtown office. Neither can an Engineer come close to the stresses of a heart surgeon. The human emotion, psyche, and the stakes involving life and death are unique and duplicated. A computer programmer is not reslonsible for making decisions that may or may not save somones orgns, limbs, breaths. I think docs are undercompensated compared to.many.other professions..eg Real estate agentd in Beverly Hills making more just ...
by ThatGuy
Wed Sep 16, 2020 7:39 am
Forum: Personal Consumer Issues
Topic: Coping with Megacorp rat race
Replies: 168
Views: 20012

Re: Coping with Megacorp rat race

alfaspider wrote: Tue Sep 15, 2020 1:44 pmBeing FI frees you from having to put up bad employment situations. Few people really want to retire to a beach at 45 for the rest of their life (well, they may think they do, but reality is that most will get bored and aimless). But everyone would likely be happier on their own terms.
I find this sad. Do you really believe that most people don't have enough self actualization to find interesting things on their own? That most people require an outside force to direct how they spend their energy?
by ThatGuy
Wed Sep 09, 2020 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: How Much House Can We Afford in HCOL Area?
Replies: 300
Views: 25191

Re: How Much House Can We Afford in HCOL Area?

Oh and because of taxes, a family member renovated their tiny $1M dump of a home. It's $1M because it is walking distance to spaceship Apple in case those are wondering. They maintained some of the original structure in order to comply with rules to keep their existing property tax rate. It looks like a brand new house to me. I can barely see any original left. It is probably north of $2M with taxes based on their original purchase price. Prop 13, don't know if I like it but wow, what a way to game the system. I complained about the inequality of prop 13 for years, mainly to my spouse. My retired neighbor, who we nicknamed hugh Hefner due to his penchant for silk robes, paid a third of the taxes we did. But then I decided to use that to my...
by ThatGuy
Sun Sep 06, 2020 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Buying vs. Renting Principles
Replies: 233
Views: 31500

Re: Buying vs. Renting Principles (Sticky Thread Request)

geerhardusvos wrote: Sun Sep 06, 2020 6:45 pm
000 wrote: Sun Sep 06, 2020 6:43 pm The OP reads like landlord propaganda. I don't think it's suitable for a sticky.
What feedback do you have that would make this more helpful to others? What areas do you disagree with?
Not to mention that the 2-3X "rule" completely ignores the effect the interest rate plays in the total amount borrowed when compared against a static monthly payment. It's an asinine thought process.

The proper way to decide how much to buy is to make a budget and figure out how much in your very specific situation can go towards housing. There are no shortcuts for this.
by ThatGuy
Thu May 28, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24606

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

The language is loaded, and is obviously inferring premises in order to take offense.

I think it better if we let the subject rest.
by ThatGuy
Thu May 28, 2020 5:54 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24606

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

Can those who are actually familiar with the Bay Area suggest where the OP should move to to get access to the "good" public schools? And how much it would cost to buy into those areas? I live in San Mateo, my house is $1.9M and my public high school is nowhere close to a "good" school. Elementary is even worse. So where are the "good" public schools? Palo Alto? Cupertino? Saratoga? You're looking at $2.5M homes in any of those locales. Can the OP afford that on $450k? Aragon is not a "good" school? I've known more than one kid from there who went on to an ivy. I think the problem is that not every school can be at the top. With all of the educated type A personalities in the Bay, nothing less than t...
by ThatGuy
Thu May 28, 2020 5:47 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24606

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

Because you, as a wealthy parent, did not micromanage your children's teachers, that is generally the case? I would be willing to bet that if you asked a room full of teachers this question, that you would very quickly (and very convincingly) see that it is the opposite. It is a double-edged sword of course, parents in the lower-socioeconomic scale tend to not care as much (which has all kinds of negative implications), but not having to be micromanaged by parents is definitely not one of the reasons good teachers choose an elite private school over a public. It's not that lower SES parents don't care, it's that they have actively learned not to have agency. Teaching kids to self-advocate is really an upper middle class/rich person thing. ...
by ThatGuy
Thu May 28, 2020 5:42 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24606

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

This. Great post. Explains why some school districts are in trouble in the bay area. Essentially, a lot of the property taxes go to Sacremento and then get funneled to where needed to be fair. So, your high property taxes in CA may be going to poorer area schools. Below explanation goes into detail and does a great job. In my area of the bay area woods (Alameda county), I fear the next few years will be bleak on the budget side. High salaries demanded by unions have driven high pension liabilities. School districts were in trouble before covid (CA now has a $40bn deficit?). Also, were not lucky enough to be in a district with loadsa public donations to plug the gap :( Keeping the kids in private for now. Would really like to send them to p...
by ThatGuy
Wed May 27, 2020 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24606

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

rolandtorres wrote: Wed May 27, 2020 6:10 pm These school threads always go like this. If I were the OP, I'd ask for input mainly from folks familiar with the Bay Area since the dynamics are unique.
The vast majority of schools are just fine in the Bay Area. Even the kids in East Palo Alto get bussed into the great schools in Palo Alto and Mountain View. But then you have other issues like the Suicide School.

The problem is that no one wants to settle for an 8, but not everyone can afford a 10.

Besides, you'll be doing all the teaching at home anyways! :sharebeer
by ThatGuy
Wed May 27, 2020 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24606

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

Because you, as a wealthy parent, did not micromanage your children's teachers, that is generally the case? I would be willing to bet that if you asked a room full of teachers this question, that you would very quickly (and very convincingly) see that it is the opposite. It is a double-edged sword of course, parents in the lower-socioeconomic scale tend to not care as much (which has all kinds of negative implications), but not having to be micromanaged by parents is definitely not one of the reasons good teachers choose an elite private school over a public. It's not that lower SES parents don't care, it's that they have actively learned not to have agency. Teaching kids to self-advocate is really an upper middle class/rich person thing. ...
by ThatGuy
Tue May 12, 2020 11:14 am
Forum: Personal Investments
Topic: CARES Act 401(k)
Replies: 9
Views: 1031

CARES Act 401(k)

I just realized that my employer has implemented the CARES act provisions for retirement accounts. Suspends required minimum distributions from traditional Individual Retirement Accounts (IRAs) and employer-sponsored retirement plans for 2020. Waives the 10% tax penalty for early distributions from IRAs and employer-sponsored retirement plans if: The individual, their spouse, or their dependent has been diagnosed with COVID-19; The individual experienced adverse financial consequences because they were quarantined, furloughed, or laid off, or because their employer reduced their working hours; or The individual experienced adverse financial consequences because the individual is unable to work due to lack of child care. Distributions are st...
by ThatGuy
Tue May 05, 2020 8:05 pm
Forum: Investing - Theory, News & General
Topic: My theory about FIRE
Replies: 419
Views: 39041

Re: My theory about FIRE

EddyB wrote: Tue May 05, 2020 4:40 pm
HomerJ wrote: Tue May 05, 2020 4:34 pm There is no grey area. If you NEED the money, you're not retired. You may be semi-retired, part-time, whatever.

Making money doing some work in retirement is fine.
What if you could happily retire at, say, 4% of your current portfolio, adjusted for inflation, but having considered warnings that 4% may not be safe, you work at a "fun" job? Is that an example of "NEED[ing]" the money? :-)
If you regularly perform work that you wouldn't without monetary compensation, then you're not retired.

You might be Financially Independent, but you're not retired.
by ThatGuy
Mon May 04, 2020 11:05 pm
Forum: Investing - Theory, News & General
Topic: My theory about FIRE
Replies: 419
Views: 39041

Re: My theory about FIRE

EFF_fan81 wrote: Mon May 04, 2020 10:15 pm
I wonder how much of this "teachers are surprisingly wealthy" stuff can be explained by:

1. Steady wages and job security rather than variable income (vs. tradesmen)
2. Starting a career earlier with less debt (vs. lawyers, college professors, etc.)
3. Government retirement benefits like pensions

Meaning that actually the total compensation for teaching, taking into all accounts, is simply higher than it might first appear by looking at any given teacher's W2 on any give year.
The teachers I know are married to patent lawyers, biomedical directors, and software engineers. It's easy to live above your paycheck when the spouse makes so much more. Not to mention saving on daycare.
by ThatGuy
Sun Apr 19, 2020 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Any One-More-Year FIRE people sticking to their plan?
Replies: 72
Views: 10529

Re: Any One-More-Year FIRE people sticking to their plan?

fortunefavored wrote: Sun Apr 19, 2020 8:39 am
LeftCoastIV wrote: Sat Apr 18, 2020 9:03 pm What will you do when you retire? With spouse working, and assuming your friends are still working, how do you envision spending your time?

I am mid-40s as well, and I struggle with the question of how I would spend my time after the initial decompression/exhilaration period ran its course.
I suppose it is heavily personality dependent. As you point out I'm not retirement-police-compliant FIRE if I have a spouse still working.

I volunteered for a layoff many years ago, and spent a good 9 months before trying to get a new job due to burnout.

I never knew unemployment could be so fun! To borrow a phrase, FUNemployment.

What do you enjoy doing now? Without a job, you get to do MORE of it! You should really try it...
by ThatGuy
Sun Apr 19, 2020 9:32 am
Forum: Investing - Theory, News & General
Topic: My theory about FIRE
Replies: 419
Views: 39041

Re: My theory about FIRE

CyclingDuo wrote: Sat Apr 18, 2020 7:28 am MYTH: Rich people have high-paying jobs.
TRUTH: Many millionaires surveyed NEVER made six figures in a year.


The top three career positions that were millionaires...

#1 - Engineers
#2 - Accountants
#3 - Teachers
How many of those teachers are married to engineers or accountants?
by ThatGuy
Fri Apr 17, 2020 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 18641

Re: How many paid for kids' college?

We are also in the NE and she attended a private school in the NE which was in the low $40's per year back in 2011. Those prices were reduced by a number of scholarships and school jobs she had during undergrad, each year she had about $18K in scholarships and grants as well as a paycheck total of $12-30K dependent upon the year. Please note she did not have to work but any funds that she earned was saved for her future use. Jobs she has had over the 8 years outside of her studies/profession include: dock master, trainer, admissions ambassador, tutor, Resident assistant, tradesy/ebay store, Brewery server, and boat delivery/charter. For us the experience of working during college was vert good and the ability to get college funds was diffi...
by ThatGuy
Sun Apr 05, 2020 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Online will
Replies: 24
Views: 1885

Re: Online will

Be really careful with this. The common mistakes I see are: 1) People don't execute them right in terms of signing WITH the witnesses present. Likely not legally valid then. 2) Some people think of their parents as being of simple means but that house, if they own one, could cause an expensive probate after death so a trust is better in most states. 3) People often try to over complicate it, play lawyer, and create ambiguities. Keep it simple! Good luck. One does need to follow directions , but a simple will is actually simpler than investing, which most bogleheads agree is eminently DIY. In some states (like glorious CA) a house in a will is a probate problem, but in this case the OP need something fast to cover the missing. Taking time l...
by ThatGuy
Sun Mar 29, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: How will coronavirus affect housing choices? Do walkable suburbs win?
Replies: 19
Views: 2419

Re: How will coronavirus affect housing choices? Do walkable suburbs win?

I see the opposite happening. I see an increase in people moving to SF and then wanting to buy a Tahoe home for the weekend getaway. Basically what's been happening in NYC for ages.

Work from home is great for individual contributors, but it's difficult to climb corporate Donkey Kong (shamelessly stolen phrase) without face time.
by ThatGuy
Mon Mar 16, 2020 4:02 pm
Forum: Personal Investments
Topic: Anyone Rebalancing Today, 3/16/20?
Replies: 36
Views: 2824

Re: Anyone Rebalancing Today, 3/16/20?

Yep, waited until the afternoon press conference and saw the market dropping.

So I Tax Loss Harvested for the first time duing the current panic.

I nibbled a bit from bonds to stocks last week, but I ran out of time to nibble today. I'll nibble tomorrow if we don't "bounce", and take a large bite after another 15% drop.

I've always hated my bonds, but I had them because the Bogleheads said I had to. Even during the great recession I hated them.
by ThatGuy
Sun Mar 15, 2020 12:32 pm
Forum: Investing - Theory, News & General
Topic: So what does shutting down the US economy for a few months look like?
Replies: 200
Views: 17214

Re: So what does shutting down the US economy for a few months look like?

Please consider purchasing gift cards to your favorite businesses. Bonus points if they're small and local.

They get the cash now, so they can keep people employed, and you can still use it later.
by ThatGuy
Sun Mar 08, 2020 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand why I need uninsured, underinsured motorist liability and medical payments.
Replies: 74
Views: 8712

Re: Help me understand why I need uninsured, underinsured motorist liability and medical payments.

... You also want your medical treatment to be paid for without explaining to your health insurer that it is due to a car accident. ... Why would explaining that be an issue? Not sure about the "explaining" word choice, but standard health insurance isn't first-payer if the injured party is covered by another type of insurance, including liability, PIP, and worker's comp. If you are injured and go to the ED ("injured" as opposed to "sick") they'll ask if you were injured in a car accident or at work. I'm not sure what the consequences would be of hiding that fact though. For many types of injuries the billing codes tip off the insurance company to investigate further. Your insurance company will mail you a for...
by ThatGuy
Thu Feb 06, 2020 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Tech Jobs (Defense vs. FAANG)
Replies: 21
Views: 4745

Re: Tech Jobs (Defense vs. FAANG)

rich126 wrote: Wed Feb 05, 2020 3:36 pmDo you have options regarding what OS you can use (probably not at Apple :D )? (I've grown to detest Windows.)
Even Apple uses Windows, software such as ANSYS doesn't run on macOS.

Everywhere I've been, getting the tool I want has been a challenge. Some other yahoo spent money on their favorite tool instead.
by ThatGuy
Thu Jan 09, 2020 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Living in a HCOL and making a middle class salary is a struggle
Replies: 340
Views: 27014

Re: Living in a HCOL and making a middle class salary is a struggle

phxjcc wrote: Thu Jan 09, 2020 5:09 pmYes, all you naysayers can say that he is not middle class...but the point is that the NE is expensive, if you haven't lived there you have NO IDEA.
Many of us naysayers live in the Bay Area. Our housings costs are much higher than even Westchester :sharebeer