Search found 6914 matches

by staythecourse
Tue Jun 18, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 59851

Re: For those who earn $500k+ per year. How'd you do that?

The majority of doctors are not employed. I didn't say the majority were did I? I do believe it is gong to be the majority either through PP employed model OR hospital. My point is those who are unhappy usually have to do with being employed by someone else (hospital or private practice) and not having autonomy. If the above poster (OP please correct me if I am wrong) worked for themselves they could do whatever they want, i.e. solo or single owner of a larger practice so there is no excuse of not being happy unless they just hate medicine itself. If they don't like the pencil pusher feeling of being a factor worker they could just change it. They just change the workflow tomorrow. That is the advantage of running the show. I own my own pr...
by staythecourse
Tue Jun 18, 2019 8:04 am
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 59851

Re: For those who earn $500k+ per year. How'd you do that?

I chose a career where I knew I'd never make millions. It is stable with good benefits and higher than average pay. Sometimes I dream of chasing the big bucks and wonder what specific skills have lead to people earning ultra-high incomes. If you earn over $500k/year, what's your story? I chose a career where I knew I'd make good money (I'm a physician), but I didn't consider anything else about it (other than I thought I was going into a career related to biology, which I loved). I had to give up 11 years of my young life to get to this stage (college, med school, and residency). 350-400k+ a year sounds great, but I wouldn't do it again. That kind of money generally comes at a high price with a lot of sacrifice. Very few people just fall i...
by staythecourse
Mon Jun 17, 2019 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: With hindsight, what signs indicated you were about to lose your job?
Replies: 176
Views: 25828

Re: With hindsight, what signs indicated you were about to lose your job?

Sandtrap wrote: Sun Jun 16, 2019 11:06 am Thus, I resolved early on, to never be an employee.
j :happy
Agreed. There is no greater feeling in the working world knowing there is no one above you or has control over your fate outside of yourself. Doesn't happen very rare (maybe a couple of times) I've had a patient complain and want to talk to the run who runs the show. I love telling them its me and if you don't like it find somewhere else to go.

Having the power to run your ship how you want is a underappreciated quality.

Good luck.
by staythecourse
Mon Jun 10, 2019 9:41 am
Forum: Personal Consumer Issues
Topic: How to get good at a racket sport without coaching?
Replies: 43
Views: 2513

Re: How to get good at a racket sport without coaching?

We also simply practiced quite a lot on fundamentals, so it wasn't just playing lots of games. Correct. The way anyone improves is through what they call "Deliberate Practice". You have to find your weaknesses and then practice focusing on just improving those weaknesses. In deliberate practice it is NOT supposed to be fun, but meant to improve your weaknesses. The point of having advanced coaching is to have them 1. Analyze WHAT those weaknesses are and then 2. Teach you drills to improve those weaknesses. If I was you I would play better (experienced) players a few times and then ask them out for lunch. Ask them to give you feedback on your weaknesses. Then go and figure out how to improve on those weaknesses. If you are too sl...
by staythecourse
Thu May 23, 2019 5:54 pm
Forum: Personal Investments
Topic: Evaluate my choices
Replies: 13
Views: 1391

Re: Evaluate my choices

Asking about business cycles and dabbling in oil CCF is not a good start to investing.

My advice just focus on these 5 aspects of investing and you will be fine...

1. Make as much as you can so you can save as much as you can
2. Asset allocation is king (stocks/ bonds/ cash)
3. Avoid active management (security selection and market timing)
4. Be cognizant of fees, taxes, and inflation as the eat into long term returns
5. Stay the course. A good plan that you can stick to is better then a seemingly perfect plan that you may bail.

For me, after hours of reading, discussing, and arguing on this site the above 5 points is all you need to be successful.

Good luck.
by staythecourse
Thu May 23, 2019 5:46 pm
Forum: Investing - Theory, News & General
Topic: Mid Caps have outperformed Large & Small for the past 50 years. Yet I see very little recommendation for them. Why?
Replies: 81
Views: 15501

Re: Mid Caps have outperformed Large & Small for the past 50 years. Yet I see very little recommendation for them. Why?

Mel Lindauer wrote: Mon May 20, 2019 1:09 pm
pdavi21 wrote: Mon May 20, 2019 12:27 am The real question is why weren't they recommended 50 years ago?

EDIT: Or 19 years ago?
Actually, I first made the case for mid-caps back in 2000 in a discussion of slice-and-dice with Larry Swedroe on the old Morningstar Vanguard Diehards forum.

Since I was apparently the lone voice recommending mid-caps over the years, they became know as Mel's Unloved Mid-Caps.
No offense Mel, but without a reason the made sense it was just a lucky guess. There is no logical premium that would make sense ex ante to suggest mid caps would/ should outperform. I will give you credit though for making such a great guess though and sure wish I was around at that time to listen!

Good luck.
by staythecourse
Thu May 23, 2019 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

masonstone wrote: Thu May 23, 2019 5:17 pm Because scopes make several fold more than other services you mention.
[/quote

How about all the other examples I gave? As you can see there are MANY ways of making money in medicine. It is just doctors aren't good about thinking outside the box.

Good luck.
by staythecourse
Thu May 23, 2019 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

Or, sometimes you will find there is a very specific area you are interested in within your training that you would like to focus on. Lupus, Diabetes, whatever. That sort of thing. It may not be feasible for a Rheumatologist to just come out of training and say “I’m a lupus specialist and I only see lupus patients”, however it may be possible to build a practice like that in the right circumstances over time. They will probably need to see all Rheum cases and maybe even some primary care patients if their volume isn't high enough, but with more time and/or establishing your name and contacts in the area, maybe it's possible to make their practice what they really want. Correct a niche practice is not a subspecialty practice (at least how I...
by staythecourse
Thu May 23, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

If the school offered a language, would do that. But elite elementary does not, so we provide it. Math sucks too, 1700 kids in her first after school math program. For what it's worth, she's been doing math competition since first grade. Believe it or not, this is not considered unusual in silicon valley. And also for what it's worth, I am one of those engineers people sneer at, although I am in management now. Good for you. It’s mostly unnecessary but if it makes you feel better. Other countries do that too. Some of my guys in China tell me about the hours of homework they do with their kids every evening. And yet, their goal is to come to the US for University. My kids live a much more balanced life, go to public school, have never had n...
by staythecourse
Thu May 23, 2019 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

zeal wrote: Thu May 23, 2019 11:08 am Which is why this thread is 6 pages long and will probably continue to grow. I think we can both agree there is no right answer.
Agreed. There is no right or wrong. I think everyone would agree you have to do what is best for you kid and family AFTER closely looking at all the options on the table.

Good luck.
by staythecourse
Thu May 23, 2019 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

Not sure how this got side tracked to a M.D. vs. N.P. discussion, but the one aspect of that debate that is likely to be true is that most folks will likely want a peds (M.D.) to be the primary care provider for their child. So, I do agree with Mason it would be difficult to build a practice with good insurance. If the OP is considering building a practice in a rural area maybe a bit different, but in a metro area they will need a better niche to attract patients. In reality there are PLENTY of those niches that could be carved out, but folks in medicine are usually not forward thinking enough to do it.

Good luck.
by staythecourse
Thu May 23, 2019 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

Would people go to a nurse as opposed to a medical doctor to take care of their kids? I mean, I understand if the nurse works for the doctor so they have oversight of a doctor, but would they actually go to one without that physician oversight? Not having an MD will definitely affect both the numbers of the clientele as well as their socio-economics so that you both have few patients and those patients have bad insurance making a successful practice even more difficult. True. If I was the OP and was starting a standard vanilla medical practice I would only do this if I really want to be my own boss AND love the business end AND accept you may make less money doing more non billable work, i.e. running a business. If I was the OP, I would ho...
by staythecourse
Thu May 23, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

However, his ability to carry on a reasonable conversation with someone probably will take him even further. I agree completely. Social skills are SO important in success in life (professional and personal). What I find interesting though is why folks think working extra on academics (in this discussion) is mutually exclusive to being "normal" socially? I am genuinely asking do you not think someone can't do both well? As an example to the poster of their kid doing extra math he/ she also has the child in a few NON academic endeavors, i.e. karate. So it obviously shows that they want to more balanced child otherwise they would have just signed up for 2 more hours of academics. No? Good luck. p.s. I have had this discussion with m...
by staythecourse
Thu May 23, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: High net worth, elite private or “good” public

I find amazing that people judge the value of a school by arts and sports programs. Nobody seems to say: that school is good, it teaches kids a lot of math, physics, chemistry or biology. That school got gold in math Olympics. Really, sports? The most important thing in a school is to select and separate kids based on ability and intellectual levels and to promote some kind of competition. Most schools in US don't do this, private or public. But everyone is different which makes life more interesting. Some parents are very interesting in a high school's chemistry program, some are very interested in a high school's football team. Both are fine by me. I''m personally a huge football fan. There are two local Catholic schools whose football g...
by staythecourse
Wed May 22, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

“What’s disturbing about this research is that it shows that even if you distinguish yourself as a great student at a Tier 4 school, and by some miracle you get into a good grad program, you aren’t likely to wind up with the tools you need to ever catch up to those people who went to a more selective four-year college,” Dr. Avery said. “You want to think that at some point the playing field is level, but the truth is increasingly clear that the answer is it probably never is. By high school, it’s pretty much over.” https://www.nytimes.com/2014/08/03/education/edlife/why-you-cant-catch-up.html I would love to read the article if you have suggestions on how to get through the paywall? It seems to be in conflict of some of data linked on here...
by staythecourse
Wed May 22, 2019 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

“What’s disturbing about this research is that it shows that even if you distinguish yourself as a great student at a Tier 4 school, and by some miracle you get into a good grad program, you aren’t likely to wind up with the tools you need to ever catch up to those people who went to a more selective four-year college,” Dr. Avery said. “You want to think that at some point the playing field is level, but the truth is increasingly clear that the answer is it probably never is. By high school, it’s pretty much over.” https://www.nytimes.com/2014/08/03/education/edlife/why-you-cant-catch-up.html I would love to read the article if you have suggestions on how to get through the paywall? It seems to be in conflict of some of data linked on here...
by staythecourse
Wed May 22, 2019 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

We do pay for additional enrichment - about four hours a week of high quality math instruction, two hours a week of Mandarin language training, plus some non-academic stuff such as gymnastics and martial arts. I also personally tutor her in random programming languages on occasion and in Chess. Public or private is a decision all parents need to make is best for their kid, but in either choice the quoted above is how a kid becomes successful. No school in the U.S.(except few) will do all the teaching the kids need to fulfill the potential. Challenging the child beyond what is expected at their level is how they become advanced in anything. Only makes sense (at least for me). I don't know ANYBODY who is successful who did not do MORE then w...
by staythecourse
Wed May 22, 2019 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

“What’s disturbing about this research is that it shows that even if you distinguish yourself as a great student at a Tier 4 school, and by some miracle you get into a good grad program, you aren’t likely to wind up with the tools you need to ever catch up to those people who went to a more selective four-year college,” Dr. Avery said. “You want to think that at some point the playing field is level, but the truth is increasingly clear that the answer is it probably never is. By high school, it’s pretty much over.” https://www.nytimes.com/2014/08/03/education/edlife/why-you-cant-catch-up.html I would love to read the article if you have suggestions on how to get through the paywall? It seems to be in conflict of some of data linked on here...
by staythecourse
Wed May 22, 2019 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

I don't know ANYBODY who is successful who did not do MORE then what is expected at any level of age. That's a bit bold. No need to write off the late bloomers. Not only my own experience, but many others I have seen. Apologize I misrepresented what I meant. I meant "I don't know ANYBODY who is successful who did not do MORE then what is expected". Not that you had to be a superstar from early and all the way through, but eventually figured it out and then started to work hard. My focus was on the person working hard more then what is required and NOT that it had to be from a young age. BTW, I'm in your category. I was a complete goofball until college. That is why I KNOW you can be successful without spending money on a high lev...
by staythecourse
Wed May 22, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

“What’s disturbing about this research is that it shows that even if you distinguish yourself as a great student at a Tier 4 school, and by some miracle you get into a good grad program, you aren’t likely to wind up with the tools you need to ever catch up to those people who went to a more selective four-year college,” Dr. Avery said. “You want to think that at some point the playing field is level, but the truth is increasingly clear that the answer is it probably never is. By high school, it’s pretty much over.” https://www.nytimes.com/2014/08/03/education/edlife/why-you-cant-catch-up.html I would love to read the article if you have suggestions on how to get through the paywall? It seems to be in conflict of some of data linked on here...
by staythecourse
Wed May 22, 2019 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

We do pay for additional enrichment - about four hours a week of high quality math instruction, two hours a week of Mandarin language training, plus some non-academic stuff such as gymnastics and martial arts. I also personally tutor her in random programming languages on occasion and in Chess. Public or private is a decision all parents need to make is best for their kid, but in either choice the quoted above is how a kid becomes successful. No school in the U.S.(except few) will do all the teaching the kids need to fulfill the potential. Challenging the child beyond what is expected at their level is how they become advanced in anything. Only makes sense (at least for me). I don't know ANYBODY who is successful who did not do MORE then w...
by staythecourse
Wed May 22, 2019 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

softwaregeek wrote: Wed May 22, 2019 3:52 pm If your student is in the middle 80%, public school is probably fine. But in my case, with a star student and a problem kid, private is the way to go.
Not true and like anything else anecdotal. No shade on your kid, but my cousin was doing calculus in THIRD grade. I am not kidding. She got one question wrong on her SAT. Went to IVY then Stanford MBA. Guess where she accomplished that success? Public. For every one story this way there is another that goes the other way.

Good luck.
by staythecourse
Wed May 22, 2019 11:44 am
Forum: Personal Consumer Issues
Topic: Inexpensive way to gain weight
Replies: 54
Views: 3932

Re: Inexpensive way to gain weight

First thing is count up EVERY calorie you are eating through the day so you have a frame of reference. Then go online and put in your ht/ wt. into an online BMR calculator and multiply that by 1.5-2 (for high activity folks) to get your caloric needs to MAiNTAIN. Subtract the two and you will get how many more calories you need just to mantain. Add 300-500 ON TOP of that to gain weight. Then calculate every calorie you eat through the day to see if you are meeting those numbers. Rinse, repeat EVERY DAY. The mistake most folks make is THINKING they are consuming A LOT of calories and they usually are not even hitting the numbers they need to mantain let alone gain weight. Gaining or losing weight is easy it is just a matter of numbers (in an...
by staythecourse
Wed May 22, 2019 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

ks289 wrote: Tue May 21, 2019 11:21 pm
Your expectation for guaranteed benefits is pretty high don’t you think? Should doctors guarantee a good outcome when we initiate a treatment supported by randomized controlled studies demonstrating a significant benefit? No we should not. And yes we are required to bill for our services knowing we will not be able to heal everyone.
Bad analogy. In your situation you don't have another option then the one available for medical care. In schooling you are CHOOSING and PAYING a premium over the default option KNOWING there is a very high chance of no advantage.

Good luck.
by staythecourse
Wed May 22, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

For the OP, even consider an urgent care peds practice and just take cash. No schedules just handle walk ins.

Heck, I would even rent a bus, fill it with all the stuff you need, and just drive it to the communities. Each day a different area of the city. There are SO MANY ways to make money in medicine if folks just think out of the box. Having 2 kids and being settled financially take some of the edge of me wanting to pursue these ventures, but there are plenty out there for those who have some drive. This would cut down significant on the overhead AND give you great access to new patient populations.

Good luck.
by staythecourse
Wed May 22, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

I work in healthcare and have been in the field for more than 15 years. In this regulatory, financial and competitive field, there is zero chance I would ever suggest that someone open up a small private practice. The sheer amount of money and time spent to meet government regulations, in itself, would be difficult. Then, add billing/coding, collections, sourcing patients, and on and on... Glad I didn't listen to you 4-5 years ago when I went solo. It was a piece of cake and love that I can do whatever I like whenever I like. The whole "difficulty" is overkill and mostly propagated by those who have never done/ tried it. My overhead is super low. Funny being a boglehead makes being a business owner much easier, i.e. cut out all t...
by staythecourse
Wed May 22, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

- research shows that there is little difference in going public vs private in life salary outcomes (when you control for everything else) This was one of my big reasons of us doing public. IF private can guarantee better pre college education or better test scores or better college acceptances or better starting earnings or better lifetime earnings I would give them TWICE the money they are asking. What they are asking is GUARANTEED a larger outlay then public (free) with no substance they produce much better returns. It is interesting folks on this site who are so against active management because there is not guarantee of better returns despite higher costs are so willing to give money to folks who have NOT shown any data they can produ...
by staythecourse
Wed May 22, 2019 11:04 am
Forum: Investing - Theory, News & General
Topic: Don't add currency risk on top of equity risk
Replies: 68
Views: 7062

Re: Don't add currency risk on top of equity risk

Well, you can think about it from the opposite perspective - you do introduce currency risk (you bet that USD will be doing better than other currencies) if you avoid international :sharebeer This is how I view it as well. The WHOLE idea of diversification is the "don't hold all your eggs in one basket" in case the basket breaks and all the eggs fall to the ground. If you whole all your assets in dollars vs. a basket of different currency which one sounds riskier? Why would diversification be great for EVERYTHING except for currency diversification? Not sure why others don't see it the same way... actually I do and it is because the dollar has dominated the last 20+ years so everyone see adding any other currency diluting the str...
by staythecourse
Tue May 21, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

My father is a solo practitioner, and certainly he wouldn't have it any other way. In the California Bay Area, it doesn't seem all that common to open a solo practice, but I'd be interested to know how feasible it is these days. Are you in a metropolitan area? Or do you think it's only possible in less popular areas? I live in a large metro area and practice at the very edge of the city. I'm a specialist so maybe a bit different. To be honest, there will always be a desire of patients for private practice. It is more streamlined and the doctor has an "ownership" of the patient. With so many doctors being employed mostly due to the "I just want to check in and out and collect a paycheck" there is less interest in provide...
by staythecourse
Tue May 21, 2019 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: Very High Net Worth, elite private or “good” public

- research shows that there is little difference in going public vs private in life salary outcomes (when you control for everything else) This was one of my big reasons of us doing public. IF private can guarantee better pre college education or better test scores or better college acceptances or better starting earnings or better lifetime earnings I would give them TWICE the money they are asking. What they are asking is GUARANTEED a larger outlay then public (free) with no substance they produce much better returns. It is interesting folks on this site who are so against active management because there is not guarantee of better returns despite higher costs are so willing to give money to folks who have NOT shown any data they can produ...
by staythecourse
Tue May 21, 2019 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 8146

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

I work in healthcare and have been in the field for more than 15 years. In this regulatory, financial and competitive field, there is zero chance I would ever suggest that someone open up a small private practice. The sheer amount of money and time spent to meet government regulations, in itself, would be difficult. Then, add billing/coding, collections, sourcing patients, and on and on... Glad I didn't listen to you 4-5 years ago when I went solo. It was a piece of cake and love that I can do whatever I like whenever I like. The whole "difficulty" is overkill and mostly propagated by those who have never done/ tried it. My overhead is super low. Funny being a boglehead makes being a business owner much easier, i.e. cut out all t...
by staythecourse
Sun May 19, 2019 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: High net worth, elite private or “good” public

Parenting is 50% of the equation. 40% is the child. 10% is the school. We debated whether we sent our elder son to private or public. We chose the later. The demographic and environment is quite good, but his academic achievement is mediocre (B and above in all class except math although he mostly get A or B on quiz and exam but not turning in, late homework and low score on team works causing him getting a D, and biology in which he's found he doesn't like and care for it, so a D goes with it. He loves screen time (YouTube channels on gaming with commentary), but we've limited him as much as we can.It'd be helpful if you can elaborate on parenting part in improve the situation or his motivation and grade overall. I would suggest it starte...
by staythecourse
Sun May 19, 2019 4:45 pm
Forum: Investing - Theory, News & General
Topic: Factor ETFs For Diversification Or “Diworsification”
Replies: 126
Views: 10348

Re: Factor ETFs For Diversification Or “Diworsification”

But as we can see from this example theory and reality can turn out to be two very different things. Garland Whizzer This was the essential argument that John Bogle made in his "Telltale Chart" speech. Pretty much, Small Value stocks might have outperformed over many years but for real life investors the tools for actually invest in those stocks were very limited. For example, Dimensional Fund Advisors didn't come into being until 1981. Even the S&P 500 Index wasn't available until 1976. If you knew way back in 1926 that Small Value stocks would outperform, wasn't much you could do about it but buy a bunch of small stocks individually. Back in 1926, analytic tools for individual investors were pretty limited. I thought the &q...
by staythecourse
Sun May 19, 2019 4:38 pm
Forum: Personal Consumer Issues
Topic: Guidance to Parents With Kids Majoring Computer Science
Replies: 25
Views: 4446

Re: Guidance to Parents With Kids Majoring Computer Science

warner25 wrote: Sun May 19, 2019 3:15 pm I think my main takeaway is that it's possible to graduate from an Ivy League school and get a highly-paid job despite writing incoherently. :wink:
Funny I just thought that came with the territory of being a CS guy? Just like expecting bad handwriting from a physician. :D

Good luck.
by staythecourse
Sun May 19, 2019 3:39 pm
Forum: Investing - Theory, News & General
Topic: Factor ETFs For Diversification Or “Diworsification”
Replies: 126
Views: 10348

Re: Factor ETFs For Diversification Or “Diworsification”

But as we can see from this example theory and reality can turn out to be two very different things. Garland Whizzer This was the essential argument that John Bogle made in his "Telltale Chart" speech. Pretty much, Small Value stocks might have outperformed over many years but for real life investors the tools for actually invest in those stocks were very limited. For example, Dimensional Fund Advisors didn't come into being until 1981. Even the S&P 500 Index wasn't available until 1976. If you knew way back in 1926 that Small Value stocks would outperform, wasn't much you could do about it but buy a bunch of small stocks individually. Back in 1926, analytic tools for individual investors were pretty limited. I thought the &q...
by staythecourse
Sun May 19, 2019 1:17 pm
Forum: Investing - Theory, News & General
Topic: Factor ETFs For Diversification Or “Diworsification”
Replies: 126
Views: 10348

Re: Factor ETFs For Diversification Or “Diworsification”

nedsaid wrote: Sun May 19, 2019 12:25 pm
staythecourse wrote: Sun May 19, 2019 12:07 pm Nothing to add, but love the term, "Diworsification". Think I might have to steal that one!

Good luck.
Pretty sure that it came from Peter Lynch.
Thanks now I know who to quote when I steal it. Surprised it came from him. Diversification was made big by MPT which really didn't take off until AFTER Lynch already became big in the 1990's.

Good luck.
by staythecourse
Sun May 19, 2019 12:07 pm
Forum: Investing - Theory, News & General
Topic: Factor ETFs For Diversification Or “Diworsification”
Replies: 126
Views: 10348

Re: Factor ETFs For Diversification Or “Diworsification”

Nothing to add, but love the term, "Diworsification". Think I might have to steal that one!

Good luck.
by staythecourse
Sat May 18, 2019 7:40 pm
Forum: Personal Consumer Issues
Topic: Anyone here own an assisted living facility?
Replies: 8
Views: 2127

Re: Anyone here own an assisted living facility?

My wife and I are considering starting an assisted living facility but we have a lot of research to do before we get serious enough to apply for a loan to start the process. If anyone here owns one can you tell me how your business operates, how much staff, how many beds, positives/negatives, etc. Thanks for any advice. I have looked into "assisted living facilities" vs multi-unit residential rentals several times in the past and have always ended up passing on "assisted living facilities" due to the following (compared to residential rentals) : 1. Red Tape (health dept regulations, etc, etc). 2. Liability (huge, just plain huge). IE: lawsuits. 3. It is a business with high labor turnover, and sometimes tough to find go...
by staythecourse
Sat May 18, 2019 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: High net worth, elite private or “good” public

Money no issue? Private. You have input into the process that will be considered. Public...not so much. ETA that public AND private schools have issues and BOTH churn out successful people. But you have already illustrated issues with today's public schools that go on uncorrected. Like I mentioned, with private you have a say in getting things corrected. In the end neither route guarantees success or failure. You know that though. Wow, the privates I know takes A LOT of money to have any pull, i.e. think 100k+ per year on top of tuition cost. We know several couples who pulled out of private just for that reason. They thought they could have more pull paying 30k+ in tuition to find out the school doesn't care unless you are going to buy a ...
by staythecourse
Sat May 18, 2019 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: High net worth, elite private or “good” public

These days, I think it's more about which profession you choose than where you graduate from (esp. primary college). Bingo. Here is the "secret" about making money in life. One will get paid based on the range of salaries that go with that profession outside of outliers. In my opinion, in relation to this thread is that unless there is CONCRETE evidence going to x school gets you a better chance into y profession I wouldn't be interested. For the OP, you have to ask yourself really why you are considering private. IF it is social reasons or academic. If it is the latter make sure they show you the data. IN our area only 2 of the private schools have any data they are any better then the several public schools that you can just bu...
by staythecourse
Sat May 18, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 26689

Re: High net worth, elite private or “good” public

Interesting question and one asked over and over again. I think you really need to decide WHY you are considering private. From what your original post the ONLY reason I would consider it is because you said a couple of your kids are the top of the class. IF the private school can offer MORE academic challenge to your kid go for it (and I mean being OBJECTIVE in the assertion). My impression from researching it in our metro city is they do NOT do that. The private in our area hype a lot, charge a ton (well above cost of living comparisons to anywhere else in the country) and still have kids who just do okay on the academic side. We are in the same financial situation and could easily send our kids to a 50k/ year school EACH without affectin...
by staythecourse
Fri May 17, 2019 3:03 pm
Forum: Personal Consumer Issues
Topic: Why do plumbers get paid so well?
Replies: 84
Views: 8661

Re: Why do plumbers get paid so well?

All I can say is if someone did not want to go to college I would have NO problem suggesting being a plumber. Be a plumber, do only after hour calls, and advertise a TON and there you go plenty of $$$$. Take some courses at CC in accounting then start hiring other plumbers and start a business.

As a physician if I take a phone call and go see a patient at 2AM at the hospital I don't make any more money. If you are a plumber you can charge WHATEVER you want ?2x a during hours call.

Good luck.
by staythecourse
Fri May 17, 2019 2:52 pm
Forum: Investing - Theory, News & General
Topic: Does stock allocation truly matter?
Replies: 61
Views: 7468

Re: Does stock allocation truly matter?

BWildt: Yes, stock allocation truly matters and it "matters" a lot. Best wishes. Taylor Sorry he is wrong. Saving is more important. What is an asset allocation or cost going to matter if you save $0 per year? The most important is simply saving AS MUCH as you can. A person who saves a ton even if they are in a bad asset allocation and/ or higher expense funds is going to make more then someone in the end that saves 10x less then them. It is the very nature of the amount that is saved that the asset allocation and costs are magnified onto. Heck staying the course is again more important then the two that is mentioned. Again if you don't stick to a plan who cares what the asset allocation is or the cost to implement the plan? So a...
by staythecourse
Fri May 17, 2019 1:18 pm
Forum: Personal Consumer Issues
Topic: Guidance on choosing between UMich and Brown
Replies: 102
Views: 11469

Re: Guidance on choosing between UMich and Brown

beyou wrote: Fri May 17, 2019 1:04 pm Once you have a CS degree from a top tier school, and both of these are, then the rest is all you.
Interesting to know if there is ANY field that this does not apply. Like any other job interview I remember for applying for residencies that once you hit some arbitrary cut off metrics the rest if up to you to get the actual job.

As long as you are swimming in the same pool as your goals the rest of getting picked from that pool is based on your individual performance.

Good luck.
by staythecourse
Fri May 17, 2019 12:52 pm
Forum: Personal Consumer Issues
Topic: Guidance on choosing between UMich and Brown
Replies: 102
Views: 11469

Re: Guidance on choosing between UMich and Brown

Not much difference in the prestige factor so that shouldn't matter much.

Two totally different areas and college vibe (sports at Umich and NE vibe at Brown). Different style cities. I would think the choice is down to what he feels he wants to experience for the next 4 years.

Good luck.

p.s. Have friends and family who came from both and have one's that are successful and not come from both so that shouldn't matter in deciding.
by staythecourse
Fri May 17, 2019 12:44 pm
Forum: Investing - Theory, News & General
Topic: Does stock allocation truly matter?
Replies: 61
Views: 7468

Re: Does stock allocation truly matter?

Does stock allocation truly matter? BWildt: Yes, stock allocation truly matters and it "matters" a lot. "Asset allocation is critically important; but cost is critically important, too -- All other factors pale into insignificance." Jack Bogle Best wishes. Taylor Sorry he is wrong. Saving is more important. What is an asset allocation or cost going to matter if you save $0 per year? The most important is simply saving AS MUCH as you can. A person who saves a ton even if they are in a bad asset allocation and/ or higher expense funds is going to make more then someone in the end that saves 10x less then them. It is the very nature of the amount that is saved that the asset allocation and costs are magnified onto. Heck st...
by staythecourse
Fri May 17, 2019 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 79
Views: 5356

Re: Logistics of splitting tuition costs with child

How about just telling your kid you can only afford x and anything more then that they are on their own? I am not sure why so many parents are so reserved in discussing the finances with their maturing children? If you can't afford x just say that to them. Maybe start that conversation Freshman year high school. That way the costs will be more predictable AND you will have a better idea of the total money available at that time. Just don't wait to Junior year when you kid is already infatuated with school x only to find out they can't go due to cost. I am a bit naive, but think the most useful aspect a parent brings in this situation is to research the 4 year cost WITH boarding and use that as the platform to help their child decide on pote...
by staythecourse
Fri May 17, 2019 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Selling home- Demanding Buyer (Repairs)
Replies: 495
Views: 71834

Re: Selling home- Demanding Buyer (Repairs)

Easy. If you can sell the house without pitching in the cost don't. You have to be sure though. Art of negotiation is all about money and time. Those who have it have the adv. and those that don't don't. As an aside, I sold my last house myself and the BIG take way I will be changing on my next sale (whenever that is) is to NOT take it off the market until after all the inspection stuff has been decided. It lowers the bargaining position of the buyer taking the house off the market. The buyer and their agent know it is a pain and looks bad to relist the house back on the market. For those out there keep showing the house until the inspection items are agreed. This way the pressure is on the buyer as they know others are still looking at the...
by staythecourse
Fri May 17, 2019 7:58 am
Forum: Investing - Theory, News & General
Topic: Does stock allocation truly matter?
Replies: 61
Views: 7468

Re: Does stock allocation truly matter?

Does stock allocation truly matter? BWildt: Yes, stock allocation truly matters and it "matters" a lot. "Asset allocation is critically important; but cost is critically important, too -- All other factors pale into insignificance." Jack Bogle Best wishes. Taylor Sorry he is wrong. Saving is more important. What is an asset allocation or cost going to matter if you save $0 per year? The most important is simply saving AS MUCH as you can. A person who saves a ton even if they are in a bad asset allocation and/ or higher expense funds is going to make more then someone in the end that saves 10x less then them. It is the very nature of the amount that is saved that the asset allocation and costs are magnified onto. Heck st...
by staythecourse
Thu May 16, 2019 8:19 pm
Forum: Investing - Theory, News & General
Topic: Does stock allocation truly matter?
Replies: 61
Views: 7468

Re: Does stock allocation truly matter?

Savings rate dominates. People talk about AA a lot, because it allows them to not think about how they could spend less and save more. They also have about AA a lot, because it allows them to think they are in the same league saving $20k/year at "100% stock" as somebody else putting away $80k/yr "conservatively" Correct. I have trumpeted for sometime that we have WAY too many threads on asset allocation and not nearly enough on how to make more money to lead to saving more per year. My BIGGEST single pet peeve on this site is a young person asking if, "12.5% EM or 15% EM?" or that line of thinking. Folks don't want to see the elephant in the room. if you save 20k a year it doesn't matter what your asset alloca...