Search found 32 matches

by LawProf
Wed Jun 19, 2019 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49315

Re: Why are you NOT buying rental properties?

Totally fine if you want to work until you are 65 and retire. I would rather have money and retire early. tomtoms, 1) Both my older brother and older sister early retired at 49 years old. 2) Many of my family members are millionaires. 3) <<8%/year for 30 years is not exactly a “fortune” (most peopl...
by LawProf
Wed Jun 19, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49315

Re: Why are you NOT buying rental properties?

When you have time to rent and maintain properties in your spare time, then you probably have not enough to do at your day time job and did not excel at your job with extra efforts. In the last 30 years before retiring I spent many 12 hour days at work- not always paid, had to travel many times to ...
by LawProf
Wed Jun 19, 2019 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49315

Re: Why are you NOT buying rental properties?

When you have time to rent and maintain properties in your spare time, then you probably have not enough to do at your day time job and did not excel at your job with extra efforts. In the last 30 years before retiring I spent many 12 hour days at work- not always paid, had to travel many times to ...
by LawProf
Wed Jun 19, 2019 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49315

Re: Why are you NOT buying rental properties?

Yes, RE investing requires more work. You should make 15-20% return/year (not including mortgage pay down by your tenants) if you are a good RE investor. And it will be a full-time job at that point to find deals, make deals, and to manage properties (or the managers). It's very hard to find below-...
by LawProf
Wed Jun 19, 2019 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49315

Re: Why are you NOT buying rental properties?

[/quote] Stocks are too volatile to buy them on margin/with leverage but be my guest. No, I don't agree with you.....more profit typically means more work. Yes, RE investing requires more work. You should make 15-20% return/year (not including mortgage pay down by your tenants) if you are a good RE ...
by LawProf
Mon Jun 17, 2019 5:12 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 101
Views: 12021

Re: If you are already wealthy, what keeps you motivated?

tomtoms wrote:
Wed May 15, 2019 12:08 pm
Jack FFR1846 wrote:
Wed May 15, 2019 12:05 pm
Define "wealthy".

I'd think:

On Reddit/pf, that would be $50k in assets.
MMM, probably $800k.
Bogleheads: from Dances with Wolves: "more than the stars"
More than $3M in NW
How much of your net worth is in RE?
by LawProf
Sun Jun 16, 2019 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 555
Views: 49315

Re: Why are you NOT buying rental properties?

Leverage works, until it doesn't.
by LawProf
Sat Jun 01, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Buying a home and renting out the extra bedrooms
Replies: 22
Views: 2443

Re: Buying a home and renting out the extra bedrooms

If you already have a net worth of over $1.5 million at age 29, I wouldn't go through the hassle of doing what you're thinking about doing, especially with only a four year timeframe in mind. If you want a nicer place, just rent it. You can afford it. Being in the landlord business is a long play; t...
by LawProf
Fri May 31, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Working for the Airlines - Value of Free Travel
Replies: 62
Views: 5000

Re: Working for the Airlines - Value of Free Travel

It used to be a great value. Now not so much. I still have flight benefits through my parents. I can get discounted tickets (cheaper than buddy passes) with a higher priority than pretty much everyone except current employees (I'm on the same tier as retirees). I would never rely on flying standby t...
by LawProf
Sat May 18, 2019 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Selling home- Demanding Buyer (Repairs)
Replies: 337
Views: 26148

Re: Selling home- Demanding Buyer (Repairs)

I know a lot of folks think I'm being greedy, but because of the sellers market, buyers very high interest, I don't see why I should settle. I don't think you're being greedy, but you said in your first post you don't know if an appraisal would support the purchase price. If those concerns bear fru...
by LawProf
Fri May 17, 2019 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Churning Credit Cards
Replies: 84
Views: 8163

Re: Churning Credit Cards

If you're going to spend $25,000 over the next six months, you could open six different cards, get the bonuses, and net the equivalent of roughly $3,000-$4,000 without breaking a sweat. Easy. If this appeals to you, do it. The first round of churning can still lead to nice rewards. It's going back t...
by LawProf
Fri May 17, 2019 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home- Demanding Buyer (Repairs)
Replies: 337
Views: 26148

Re: Selling home- Demanding Buyer (Repairs)

(1) Cash offer
(2) Well over your asking price
(3) You're not sure the selling price could even support an appraisal if the purchase money was financed
(4) Problematic septic system

Get the deal done, even if means eating all the septic costs.
by LawProf
Thu May 16, 2019 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Reservations about job offer
Replies: 65
Views: 4184

Re: Reservations about job offer

If you really want to take the job despite your reservations, negotiate harder: (1) require more money upfront and (2) require some type of compensation payment if you don't get the title within a certain point in time.
by LawProf
Thu May 16, 2019 7:34 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3887
Views: 721733

Re: What's Your Credit Card Rewards Strategy?

For turning credit card rewards into investment funds, you can use the Amex Blue Business to get 2% back on everything and combine that with a Charles Schwab Amex Platinum that allows to move your Membership Rewards points to Schwab at a rate of 1.25% per point. If enough points are at stake, that w...
by LawProf
Sat Aug 11, 2018 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Joint Ownership of home with second wife
Replies: 201
Views: 15183

Re: Joint Ownership of home with second wife

OP, You don't want to get married (at least right now). You've literally said this. You don't want to get married. For the sake of yourself, your kids, and your partner, don't get married. It's not fair to anyone. Forget negotiations, mediation, everything -- you don't want to get married. Case clos...
by LawProf
Wed Jun 06, 2018 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

As I've said multiple times, he can go to law school and spend the rest of his life publishing law review articles. Do you really think this is plausible? I'm just curious. One would be hard pressed to do this in other academic areas unless you wanted to fund your own research. I get that law revie...
by LawProf
Wed Jun 06, 2018 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Many law school classes have one or two MDs. I am a PhD and would like to go to law school after I retire, and I might go at night before I retire. Robert Levy, who is an attorney and also chairman of the Cato Institute, went to law school after he retired. He also clerked for a federal appeals cou...
by LawProf
Wed Jun 06, 2018 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

When I got my MBA during my mid 20s there was an M.D. there who must have been at least mid 60s, I had one class with him. I never understood his motivation as I'd assumed his career would be winding down at that point. Granted, I didn't ask him, either. I don't claim to understand the motivation o...
by LawProf
Tue Jun 05, 2018 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Thank you so much for writing such a helpful post. The numbers regarding annual job openings are especially useful. "That said, you seem pretty determined..." Actually, no. I've done preliminary research. That's all. As I learned a few things about the job I began to become excited about it. That's...
by LawProf
Tue Jun 05, 2018 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I'm a lawprof at a top 30 school and have been a member of our hiring committee for many years. I skimmed the thread, so I apologize if I've missed something. If you want to go to law school because you are interested in the law, have the time/money, want to change careers, and just want to learn a...
by LawProf
Mon Jun 04, 2018 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

(1) Google "Harvard Law Review." Read some of the recent issues. Pay particular attention to the footnotes as the frequency and length make legal writing quite distinctive. If you cannot finish the articles and find them boring, don't go to law school. If you cannot see yourself enjoying that style ...
by LawProf
Mon Jun 04, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Okay, now that you've indicated that you're not real interested in teaching but mainly the scholarly side, I will say this. You can go to law school and then write law review articles the rest of your life. You can do that no problem. Law academic publishing is the most democratic of academic publis...
by LawProf
Mon Jun 04, 2018 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I hesitate to say this because I think it is a terrible idea, but you could go to law school and see if you graduate Yale first in your class and get a Supreme Court clerkship. Failing that, you could pursue a S.J.D. after law school, which is essentially a doctorate in law. The upshot of the S.J.D....
by LawProf
Mon Jun 04, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Weird reality -- you don't really need legal experience to be a law professor. Most law schools are looking for legal scholars, and practicing law for too long (anything over 4 years starts to look suspect), actually counts against you in that you're perceived as not being serious about scholarship....
by LawProf
Mon Jun 04, 2018 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I don't think law faculty politics (though it certainly exists like any workplace) is near as bad as faculty politics in other disciplines, probably because the path to becoming a law professor is so different than the PHD path to becoming a professor in other disciplines. Socially, law school is a ...
by LawProf
Sun Jun 03, 2018 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

You have no chance of being hired as a law professor. None. Don't even think the thought again. It is a waste of time. Nor would you ever be hired in BigLaw if that is what you want (and if that is what you want, seek psychic help; BigLaw is miserable). If you really want to go to law school, pick ...
by LawProf
Sun Jun 03, 2018 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 276
Views: 16184

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

You have no chance of being hired as a law professor. None. Don't even think the thought again. It is a waste of time. Nor would you ever be hired in BigLaw if that is what you want (and if that is what you want, seek psychic help; BigLaw is miserable). If you really want to go to law school, pick t...
by LawProf
Sun Feb 10, 2013 3:52 pm
Forum: Investing - Theory, News & General
Topic: Taleb and Kahneman: Antifragility vs. common-man attitudes
Replies: 147
Views: 16519

Re: Taleb and Kahneman: Antifragility vs. common-man attitud

Part of my calculus is that I'm going to have plenty of enough money to retire on, unless something Black Swanish happens. Because of that I would like to be more conservative with my money than I am, but there is simply no safe place to park money and generate meaningful return given the current i...
by LawProf
Sun Feb 10, 2013 2:58 pm
Forum: Investing - Theory, News & General
Topic: Taleb and Kahneman: Antifragility vs. common-man attitudes
Replies: 147
Views: 16519

Re: Taleb and Kahneman: Antifragility vs. common-man attitud

What is SMA? According to Taleb, if you are antifragile the impact of Black Swans on you will be dampened. Victoria Not LawProf, but he meant this SMA = Simple Moving Average 10 month SMA timing model is explained here. http://www.mebanefaber.com/timing-model/ In my view, that model can not help in...
by LawProf
Sat Feb 09, 2013 10:22 pm
Forum: Investing - Theory, News & General
Topic: Taleb and Kahneman: Antifragility vs. common-man attitudes
Replies: 147
Views: 16519

Re: Taleb and Kahneman: Antifragility vs. common-man attitud

Taleb has had an enormous influence on me and is the reason I use market timing in my investments (a modified 10 month SMA system). The problem with buy and hold is that it works until it doesn't. I say this as a former buy and hold adherent. The Black Swan terrifies me.
by LawProf
Sun Feb 03, 2013 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: .....
Replies: 43
Views: 5217

Re: Should I take the full-time offer?

When you go to HR, tell them you think he treated you this way because you are a woman. Complaining about sex discrimination is protected activity that gives you an extra layer of protection. Your first post on the forum was to say this? It is possible for a woman go get hassled at work without it ...
by LawProf
Sun Feb 03, 2013 12:35 am
Forum: Personal Finance (Not Investing)
Topic: .....
Replies: 43
Views: 5217

Re: Should I take the full-time offer?

When you go to HR, tell them you think he treated you this way because you are a woman. Complaining about sex discrimination is protected activity that gives you an extra layer of protection.