Search found 496 matches

by Nathan Drake
Sat Apr 25, 2020 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Unemployed renter w/1.1m taxable - looking to buy 400k home for cash
Replies: 36
Views: 3915

Re: Unemployed renter w/1.1m taxable - looking to buy 400k home for cash

I'd say with $2mm in your mid 40's, you can AFFORD it. I'd also say the timing of the current pandemic, your ling term unemployment, and strange outlook on short term job prospects mean its probably a mistake. That is unless you are ready to retire and live off of $50-$55k per year for your remaini...
by Nathan Drake
Sat Apr 25, 2020 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Unemployed renter w/1.1m taxable - looking to buy 400k home for cash
Replies: 36
Views: 3915

Re: Unemployed renter w/1.1m taxable - looking to buy 400k home for cash

I'd say with $2mm in your mid 40's, you can AFFORD it. I'd also say the timing of the current pandemic, your ling term unemployment, and strange outlook on short term job prospects mean its probably a mistake. That is unless you are ready to retire and live off of $50-$55k per year for your remaini...
by Nathan Drake
Sat Mar 14, 2020 5:27 pm
Forum: Investing - Theory, News & General
Topic: Coronavirus and the market
Replies: 4001
Views: 305196

Re: Coronavirus and the market

All I know is that China has a much bigger population, and much greater population density than the US and they have managed to contain it If it ends up getting worse in the US and EU, more draconian measures like the Chinese will be made and it will be contained Humanity has a good way of dealing w...
by Nathan Drake
Thu Mar 12, 2020 10:41 pm
Forum: Investing - Theory, News & General
Topic: How much could we theoretically lose?
Replies: 128
Views: 10439

Re: How much could we theoretically lose?

Humanity has weathered two world wars that killed hundreds of millions A flu epidemic that was much more lethal than Corona The situation is certainly bad - economic activity is freezing - but I’m confident that humanity will solve the issue and we will pick up where we left off How long that will t...
by Nathan Drake
Thu Mar 12, 2020 10:31 pm
Forum: Investing - Theory, News & General
Topic: How much could we theoretically lose?
Replies: 128
Views: 10439

Re: How much could we theoretically lose?

You don’t lose anything if you don’t sell

I still own my shares
by Nathan Drake
Mon Feb 17, 2020 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: I'm 40 and when do I retire? first world problem?
Replies: 52
Views: 9528

Re: I'm 40 and when do I retire? first world problem?

I’d stay the extra three years. It’s crazy to me that state and local governments can afford these pensions. Effectively over the 21 years you’ve worked, you’ve contributed less than $150k personally. Assuming the PD chips in an equal amount, that’s still only $300k total in contributions... Yet yo...
by Nathan Drake
Sun Feb 16, 2020 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: I'm 40 and when do I retire? first world problem?
Replies: 52
Views: 9528

Re: I'm 40 and when do I retire? first world problem?

I’d stay the extra three years. It’s crazy to me that state and local governments can afford these pensions. Effectively over the 21 years you’ve worked, you’ve contributed less than $150k personally. Assuming the PD chips in an equal amount, that’s still only $300k total in contributions... Yet you...
by Nathan Drake
Wed Feb 05, 2020 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tech Jobs (Defense vs. FAANG)
Replies: 21
Views: 2934

Re: Tech Jobs (Defense vs. FAANG)

30 years at 8 different companies, including defense, a FAANG, and every kind of tech company in between. TL;DR - defense and commercial are very different, but switching to commercial is not necessarily better. Defense and commercial are different. In commercial, the goal is to release a product q...
by Nathan Drake
Mon Feb 03, 2020 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

:sharebeer
Starfish wrote:
Mon Feb 03, 2020 2:23 am
RobLyons wrote:
Sun Feb 02, 2020 10:30 pm
This thread has me like :shock:
Is there a high barrier to entry into the SWE field? I assume BS in CS ?
To get into these companies you need a lot more than a BS in CS (which probably is not even mandatory).
I don’t think you do

The aptitude is more important than the degree
by Nathan Drake
Sun Feb 02, 2020 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

I have a BSEE degree. First job out of college I used the EE skills especially deciphering schematics and making a complicated system work (wafer fab). That didn't last long and changed direction into a different type of engineering in a different field. Currently doing systems engineering for a la...
by Nathan Drake
Sat Feb 01, 2020 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

BS / MS Chemical Engineer 26 yrs - Mid major oil company Houston area W2 wages: $242k Incentive bonus: $20k/yr Stock: $12k/yr Various pretax savings plans...value of company contributions: $10k/yr "Other": $5k/yr This is shocking to me. Way outside the norm for age, experience, industry, and locati...
by Nathan Drake
Sat Feb 01, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

stoptothink, with all due respect, I think you're reading the data wrong. Keep in mind that your glassdoor and bls numbers are very broad averages for chemical engineers, and not necessarily reflective of oil and gas professionals. For example, here's a salary survey from the society of petroleum e...
by Nathan Drake
Mon Jan 27, 2020 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

So no, it's not necessarily surprising that during this sort of environment a rather middle-of-the-road software engineer with 10-20 years of experience could make $500k-1 million sitting in his chair working a relaxed 35-40 hours a week (as multiple people have claimed in various threads). But it ...
by Nathan Drake
Sun Jan 26, 2020 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

spae, Can you discuss how you made the transition and why? Was it purely a matter of compensation? As an EE over the past decade I’ve been envious of Software Engineering, largely because of the high pay but also because of the ability to potentially work from home, telecommute, or do contract work ...
by Nathan Drake
Sun Jan 26, 2020 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

I’m not saying you’re wrong, but if the labor market is that wildly inefficient then this party isn’t going to last. Jeff Kauffman made this argument recently and most programmers think he's wrong, if you read programmer forums, the tech equivalent of bogleheads, most people think he's an idiot. ht...
by Nathan Drake
Fri Jan 24, 2020 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

BS / MS Chemical Engineer 26 yrs - Mid major oil company Houston area W2 wages: $242k Incentive bonus: $20k/yr Stock: $12k/yr Various pretax savings plans...value of company contributions: $10k/yr "Other": $5k/yr This is shocking to me. Way outside the norm for age, experience, industry, and locati...
by Nathan Drake
Thu Jan 23, 2020 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

Some reasons people make more: - Shift work/on call work - Security clearance - Very talented at their jobs/go above & beyond - Willing to work in LCOL area where it’s hard to recruit, so salary is higher - Live in NYC region/Bay Area - Luck with company stock - Good contacts/networks - Going into ...
by Nathan Drake
Thu Jan 23, 2020 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

MechEng, 9 years, $120k, HCOL, 45-70 hours a week depending, nights and weekends sometimes, no overtime, good benefits, stable industry and I don’t have to worry about layoffs at my company (privately held). I agree the numbers on here seem high. Even hot shots at my company in the 10-15 year range...
by Nathan Drake
Wed Jan 22, 2020 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

aerospace/structural engineer, 250K+, 8 years experience, at my 4th company (been hopping every two years), started at 65k. 50 hours per week. I am in the upper echelon in the pay scale compared to my peers (most of them are in the 100K-120K mark). I have mastered my job so companies pay me top dol...
by Nathan Drake
Sat Jan 18, 2020 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making? ($$$)

Here in Texas the engineering title use determination is driven by whether you offer services to the public or not. If you're working within a corporation you can call yourself whatever type of engineer you want and nobody cares--called the industrial exemption. Other exemptions are for driving the...
by Nathan Drake
Fri Jan 17, 2020 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

What does difficulty or stress have to do with compensation? This is like saying, "if the job involves eating fewer bananas...why does it pay that much?" My friends who studied biology worked a lot harder than I have at any job and they make less than I made before I switched to software. The ones ...
by Nathan Drake
Fri Jan 17, 2020 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

If the job is so much easier and low stress making a cool 750k...why does it pay that much? What does difficulty or stress have to do with compensation? This is like saying, "if the job involves eating fewer bananas...why does it pay that much?" My friends who studied biology worked a lot harder th...
by Nathan Drake
Fri Jan 17, 2020 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

Electrical engineering background, working for a software company. Rounding to the nearest $50k, I made $50k/yr in my first job and worked my way up to $100k/yr after almost a decade at engineering companies in the middle of the country. Switched to coastal software jobs, now have a target comp of ...
by Nathan Drake
Fri Jan 17, 2020 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Switch career path for more $
Replies: 7
Views: 1139

Re: Switch career path for more $

How much do you make now?
by Nathan Drake
Thu Jan 16, 2020 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Engineers - What are you making? ($$$)
Replies: 357
Views: 43940

Re: Engineers - What are you making?

EE, but not a "real" engineer. In my industry, no one bothers getting their PE. I don't touch anything over 12V, and preferably well under 3V The pay's really good. Principal engineer, over 15 years experience, LCOL, base of $250K, annual equity grants over 150K, and due to good RSU perf, the annua...
by Nathan Drake
Thu Jan 16, 2020 1:17 am
Forum: Investing - Theory, News & General
Topic: Personal Capital / Investment Tools
Replies: 29
Views: 2092

Re: Personal Capital / Investment Tools

I've been using it for years and am generally happy with it other than the occasional calls (now blocked) and the fact that it takes them a long time to address linking issues that inevitably surface every now and then when you have a bunch of linked accounts. I have a feeling that the days of free...
by Nathan Drake
Wed Jan 15, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 501
Views: 60685

Re: What is/ was your career and would you recommend it now?

Retail pharmacist, and nope, not right now. Not unless you're one of few bright ones, with a willingness to do more than just count pills. With so many new pharmacy schools opening over the last 10-15 years, we are reaching/have reached points of saturation across the country, especially in larger ...
by Nathan Drake
Wed Jan 15, 2020 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 501
Views: 60685

Re: What is/ was your career and would you recommend it now?

I'm in the military working in the intelligence community. I would highly recommend this route for a couple of reasons. 1. Benefits - Free health care, free housing, housing and food allowances that go untaxed. Best of all, free college. 2. Intelligence community members specifically receive Top Se...
by Nathan Drake
Fri Dec 27, 2019 1:42 am
Forum: Personal Finance (Not Investing)
Topic: Job offer at FAANG for $350k - Declining Offer
Replies: 161
Views: 18645

Re: Job offer at FAANG for $350k

This isn’t a financial question in my eyes. 100% agree with this. . . . I currently make around 180 K per year and I don’t have to travel and have a decent balance to my life to spend time with my family. I have young kids. This new role would have direct reports and Im currently an IC. New role wo...
by Nathan Drake
Tue Dec 24, 2019 1:42 am
Forum: Personal Finance (Not Investing)
Topic: Anyone had success demanding a fully remote position at their current employer?
Replies: 31
Views: 2603

Anyone had success demanding a fully remote position at their current employer?

I’m at lean FI. I enjoy my job enough and don’t want to retire, but there are some aspects that I’m not sure how much I’ll be able to endure for much longer. Namely, 45+ minute commute each way, in a city that’s okay but ideally I’d like to move out of, and in a distracting cube farm that makes it d...
by Nathan Drake
Mon Dec 23, 2019 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

I'm an overnight pharmacist at a hospital in the Midwest. I love the work. It can be exciting at times, but for a lot of the night I am just making sure all the nurses have what they need for their patients and catch up on projects (or post on Bogleheads). I have a 7/70 schedule, so I work 7 10-hou...
by Nathan Drake
Sat Dec 21, 2019 12:11 am
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

Curious, what kind of hours are the engineers (electric / aerospace / civil / etc...) and software engineers earning >$250k pulling? Are you working banker hours (M-F 9-5) or are you slaving 80hr+ weeks to earn that kind of pay? How is your lifestyle in terms of making it to your kids events, spend...
by Nathan Drake
Fri Dec 20, 2019 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

Curious, what kind of hours are the engineers (electric / aerospace / civil / etc...) and software engineers earning >$250k pulling? Are you working banker hours (M-F 9-5) or are you slaving 80hr+ weeks to earn that kind of pay? How is your lifestyle in terms of making it to your kids events, spend...
by Nathan Drake
Thu Dec 19, 2019 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

Curious, what kind of hours are the engineers (electric / aerospace / civil / etc...) and software engineers earning >$250k pulling? Are you working banker hours (M-F 9-5) or are you slaving 80hr+ weeks to earn that kind of pay? How is your lifestyle in terms of making it to your kids events, spend...
by Nathan Drake
Thu Dec 19, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

Curious, what kind of hours are the engineers (electric / aerospace / civil / etc...) and software engineers earning >$250k pulling? Are you working banker hours (M-F 9-5) or are you slaving 80hr+ weeks to earn that kind of pay? How is your lifestyle in terms of making it to your kids events, spend...
by Nathan Drake
Thu Dec 19, 2019 1:07 am
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

HEDGEFUNDIE wrote:
Thu Dec 19, 2019 1:03 am
Aaabbbccc wrote:
Wed Dec 18, 2019 6:15 pm
CRE broker ~30 y/o
high 3s to 4
It always amazes me how much money there is in real estate brokerage, of all kinds.

My mortgage banker makes seven figures.
Yeah I’m shocked it hasn’t been automated away, I guess they have big interests in their favor to keep up their high commissions
by Nathan Drake
Wed Dec 18, 2019 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 150418

Re: High Earners - What's Your Profession?

sjl333 wrote:
Wed Dec 18, 2019 10:41 am
Aerospace engineer. 30 y/o. Single.

250k to 300k. (Paid OT at 1.5x base rate).

Times are really good right now. Tons of work across the industry.
I find this incredibly hard to believe unless you’re a contractor (on the hook for your own benefits) working 80 hours a week
by Nathan Drake
Sat Dec 07, 2019 4:55 pm
Forum: Personal Investments
Topic: "The Wealthy Renter" by Alex Avery.
Replies: 191
Views: 21395

Re: "The Wealthy Renter" by Alex Avery.

Moving from an LCOL/MCOL area to a VHCOL area is more of a lifestyle choice than a financial decision, but from a financial standpoint this was a no brainer. My rent used to be almost 1/10th what it is now and my total expenses were 1/5th, but despite living a less frugal lifestyle than I used to, ...
by Nathan Drake
Sat Dec 07, 2019 12:50 pm
Forum: Personal Investments
Topic: "The Wealthy Renter" by Alex Avery.
Replies: 191
Views: 21395

Re: "The Wealthy Renter" by Alex Avery.

We rent a nice 2 bedroom for $4500 a month. Wow! Double ouch! My paid for 3 Bed/2 bath housing costs including taxes, insurance, utilities, bug contracts, cable/internet/phone...$800 a month or $9600 a year. I used to think that I was paying way too much. Moving from an LCOL/MCOL area to a VHCOL ar...
by Nathan Drake
Thu Dec 05, 2019 11:43 pm
Forum: Personal Investments
Topic: 2020 Plan for $45,000,000 in 2045
Replies: 81
Views: 14655

Re: 2020 Plan for $45,000,000 in 2045

It’s nice to have goals
by Nathan Drake
Thu Dec 05, 2019 1:14 am
Forum: Personal Investments
Topic: "The Wealthy Renter" by Alex Avery.
Replies: 191
Views: 21395

Re: "The Wealthy Renter" by Alex Avery.

You are missing the point. The point is simply you have no way of knowing if renting or buying will be cheaper. You can't make statements like "here's virtually no way that buying comes out ahead at current prices." because there is no way to predict the outcomes. Modest 1-2% changes in appreciatio...
by Nathan Drake
Thu Dec 05, 2019 1:07 am
Forum: Personal Investments
Topic: "The Wealthy Renter" by Alex Avery.
Replies: 191
Views: 21395

Re: "The Wealthy Renter" by Alex Avery.

I’m not convinced. Being a renter doesn’t make one wealthy, like being a homeowner doesn’t make one poor. But when you retire, do you want to retire and be homeless? Retirement = fixed income while rent will continue to raise every year, no? How would one keep up with rent in retirement? Please exp...
by Nathan Drake
Wed Dec 04, 2019 1:06 am
Forum: Personal Investments
Topic: "The Wealthy Renter" by Alex Avery.
Replies: 191
Views: 21395

Re: "The Wealthy Renter" by Alex Avery.

I’m not convinced. Being a renter doesn’t make one wealthy, like being a homeowner doesn’t make one poor. But when you retire, do you want to retire and be homeless? Retirement = fixed income while rent will continue to raise every year, no? How would one keep up with rent in retirement? Please exp...
by Nathan Drake
Sat Nov 16, 2019 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-Tax + After-Tax + Match MAX: Any way to easily avoid IRS limit ($57k)
Replies: 11
Views: 1145

Re: Pre-Tax + After-Tax + Match MAX: Any way to easily avoid IRS limit ($57k)

Yeah my plan does not have a “True Up”, so I’ll just need to plan my contributions carefully
by Nathan Drake
Fri Nov 15, 2019 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-Tax + After-Tax + Match MAX: Any way to easily avoid IRS limit ($57k)
Replies: 11
Views: 1145

Re: Pre-Tax + After-Tax + Match MAX: Any way to easily avoid IRS limit ($57k)

In my employer's 401k plan, the contributions automatically stop once the limit is reached. I would guess that most 401k plans work this way. I guess I just need to try and plan it so that I max out on the last pay period. As long as the last pay period has a contribution above 4% while reaching 57...
by Nathan Drake
Fri Nov 15, 2019 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-Tax + After-Tax + Match MAX: Any way to easily avoid IRS limit ($57k)
Replies: 11
Views: 1145

Pre-Tax + After-Tax + Match MAX: Any way to easily avoid IRS limit ($57k)

Income is variable throughout the year (salary/overtime) and yet my contribution to 401k is a fixed percentage. As an example: assume salary of 100k, 4% match Contribution to 401k: 53% of income = 53k (19.5k pre tax, 33.5 after tax) 53k + 4k match = 57k limit ————————— The above example assumes no s...
by Nathan Drake
Sat Nov 09, 2019 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability and Financial Independence - Drop Coverage?
Replies: 25
Views: 1355

Re: Long Term Disability and Financial Independence - Drop Coverage?

Thanks all I’ve decided to keep the coverage. While I’m currently working towards full or fat FIRE I think it’s prudent to have coverage since an extended illness could not only influence my income but also health coverage, which is a risk I’d like to mitigate. An extended illness without income or ...
by Nathan Drake
Sat Nov 09, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability and Financial Independence - Drop Coverage?
Replies: 25
Views: 1355

Re: Long Term Disability and Financial Independence - Drop Coverage?

I should add that if I Opt Out of LTD, I won’t be able to continue health insurance coverage with my employer should I have a long term disability...

Not sure if that changes the analysis a bit.