Search found 420 matches

by davidsorensen32
Mon Dec 30, 2019 10:17 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 921
Views: 78683

Re: Talk me out of buying a Tesla Model 3

With all the options you're looking at $60k+ for a fully loaded Tesla 3. You can get a certified pre-owned Porsche for that much. Doesn't make any sense to spend money on Tesla. [UPDATE 10/31 - I bought the car. It's a done deal. FWIW, compromised and went with the non-Performance Long Range AWD mod...
by davidsorensen32
Mon Dec 30, 2019 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 436
Views: 116739

Re: If your net worth is over $3 million, how did you do it?

My story is really boring. 2 x W2 incomes in silicon valley - no FAANG, no stock options, no IPO, no house. Just investing in boring VTSAX both in 401(k), Roth and after-tax. New cars, private school, vacation, supporting extended family - we don't hold back and spend a lot every year. But the marke...
by davidsorensen32
Thu Dec 26, 2019 2:10 am
Forum: Personal Finance (Not Investing)
Topic: Job offer at FAANG for $350k - Declining Offer
Replies: 161
Views: 17979

Re: Job offer at FAANG for $350k

Ask yourself - How long can you last at this new job ? I personally know 17 people who joined this particular FAANG ( there is just one company that structures bonus like what you mentioned ) and quit within 1-2 years. Constant re-orgs, brutal micromanagement, predatory bosses, corrosive work cultur...
by davidsorensen32
Thu Nov 21, 2019 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Auto insurance company pays less than 1/3rd of windshield damage
Replies: 18
Views: 1263

Auto insurance company pays less than 1/3rd of windshield damage

Fellow Bogleheads, seeking your wisdom in a very difficult situation. I'm the common man with an automobile and comprehensive auto insurance. Been with my current insurance company for 10years+. Recently my windshield got cracked from flying debris while I was driving to work - necessitating a winds...
by davidsorensen32
Wed Sep 18, 2019 10:54 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 13244
Views: 2241999

Re: U.S. stocks in free fall

Excellent decision. I sold mine 5+ years ago, after holding for a decade during which time I traveled extensively for business to many of these countries and realized that their economic systems were not built to benefit the investor. No tilt, no small cap, no REIT, no mid-cap, just VTSAX does the j...
by davidsorensen32
Fri Sep 13, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: How many years for each $250k of net worth?
Replies: 36
Views: 6331

Re: How many years for each $250k of net worth?

Took me 4 years in early 2000's to accumulate $250K. This year 0.6 months. YMMV. Is there a way to rough estimate how many years it takes to reach each $250k of net worth. Surely it gets shorter for each new set of 250 because of compound interest (snowball effect). It took me 7 years of full time w...
by davidsorensen32
Thu Sep 12, 2019 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 7968

Re: Bay Area budget for $350k family income

I am amazed at how many people get impressed by reading either completely obvious or completely inaccurate stuff - which this blog regurgitates regularly. Here are some real numbers Savings: 2x 401(k) = $38,000 2 x 401(k) match = $12,000 (probably more, just being conservative) 2 x backdoor Roth = $...
by davidsorensen32
Wed Sep 11, 2019 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

Wannaretireearly wrote:
Wed Sep 11, 2019 10:15 am
- take your time to find a great contractor
How do you find a great contractor ?
by davidsorensen32
Wed Sep 11, 2019 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

CA is a whole different world and sometimes if you don't just bite the bullet and buy, the opportunity just seems to get further and further from your reach. I've been chasing it for 20 years now. Some years ago, when my networth was $600K, Palo Alto houses were going for $1.2M. Now the same Palo A...
by davidsorensen32
Wed Sep 11, 2019 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

unclescrooge wrote:
Wed Sep 11, 2019 9:52 am

If you go this route, use a reputed design and build firm. They will tell you what's reasonable within your budget.

Also check out Blu homes.
What are some of the reputed design and build firms in the Bay Area ?
by davidsorensen32
Wed Sep 11, 2019 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 329
Views: 44630

Re: Relationship mortgage discounts for moving a million assets

antmn wrote:
Wed Sep 11, 2019 11:11 am
HSBC is also worth trying. Are these rates for a 5/1ARM? Curious who you ended up with.
[ quote fixed by admin LadyGeek]

7/1
by davidsorensen32
Tue Sep 10, 2019 9:47 pm
Forum: Investing - Theory, News & General
Topic: Rich people are hoarding cash
Replies: 233
Views: 34460

Re: Rich people are hoarding cash

I don't understand this. Suppose all those rich people invested all of their hoarded cash in the market tomorrow. Guess what ? they will be receiving securities, but the sellers of those securities will be getting all of that cash. So, the cash outside of the market will be constant. It will simply ...
by davidsorensen32
Tue Sep 10, 2019 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: BofA ShopSafe going away
Replies: 111
Views: 8758

Re: BofA ShopSafe going away

This truly sucks. Can't we write a letter - lets store it on google drive and share it with BofA or send emails to their head honchos ?
by davidsorensen32
Tue Sep 10, 2019 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

Fixer upper is an excellent suggestion thanks ! As it so happens there is one available and I am pondering whether to go after it. But I am a complete novice when it comes to building houses. And from what I understand general contractors in this area love to take gullible clients for a nice long hi...
by davidsorensen32
Tue Sep 10, 2019 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 329
Views: 44630

Re: Relationship mortgage discounts for moving a million assets

Here are the rates I'm getting. I will continue to update this as I get more info: WF : 2.625% (APR 3.560%) , closing costs $24,000 , potential for 0.5% reduction if I move $1M+ to their platform BofA: said they will match / slightly lower whatever WF says Citi: never returned my call with any mater...
by davidsorensen32
Tue Sep 10, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

unclescrooge wrote:
Mon Sep 09, 2019 9:31 am
davidsorensen32 wrote:
Mon Sep 09, 2019 12:34 am
What are the equivalent rents on both houses?
$6,000 for $1.7M home. No houses for rent in the $2.5M range.
by davidsorensen32
Tue Sep 10, 2019 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

What about kids and how do they play with your income assumptions? Can you do the 2.6MM? Sure. But you also lock yourself in longer to the hamster wheel of silicon valley. The 1.7M house will spring you free much sooner. Kids don't bring in any income so they have nothing to do with income assumpti...
by davidsorensen32
Tue Sep 10, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

The $2.6 million house seems a bit of a stretch at 7x annual salary and 35% of your pretax income. Is the mortgage for a 30-year term? If so, you will be paying mortgage until age 72. If you buy this house, will you be able to save 20-25% of gross income for retirement? If not, a lower priced house...
by davidsorensen32
Tue Sep 10, 2019 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

Re: [Yet Another] How much house can I afford ?

softwaregeek wrote:
Mon Sep 09, 2019 1:46 am
Based on the numbers you give, I assume you are getting something like a 10/1 ARM at 2.5%?
Thats right. I'll post more details of my rate purchase on the private relationships mortgage thread.
by davidsorensen32
Mon Sep 09, 2019 12:34 am
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 3320

[Yet Another] How much house can I afford ?

Bogleheads, I'm about to embark on the most significant financial decision of my life. Will really appreciate your opinion. Location: SF Bay Area. Age : 42/36 . Total income 380k . Stable jobs. NW $2.6M (even split between taxable and retirement) . Options * $1.7M house - very basic, not very desira...
by davidsorensen32
Fri Jul 12, 2019 10:54 am
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 31795

Re: Americans believe they need $1.7 million, on average, to retire

Yet another meaningless survey. I don’t understand why reputed organizations keep pumping out these half truths. It would be much more meaningful and beneficial to publish a proper methodology for example like KlangFool writes from time to time $1.7 million to retire - gulp, I better start stocking ...
by davidsorensen32
Fri Jul 12, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: At What Age or Point in your Career did your investments start outweighing your regular paychecks?
Replies: 85
Views: 12577

Re: At What Age or Point in your Career did your investments start outweighing your regular paychecks?

It’s very much dependent on the vagaries of mr market

This year total appreciation so far : $500k+
Total projected comp : less than $500k

Not sure what conclusion to draw. Could be the other way around in the remainder of the year
by davidsorensen32
Tue May 28, 2019 12:53 am
Forum: Personal Finance (Not Investing)
Topic: Unemployment OVER ! New job dilemma
Replies: 32
Views: 4155

Re: Unemployment OVER ! New job dilemma

Commute Job 1 - 3.5 hours each day Commute Job 2 - 3 hours each day Job 1 is non stop. there will be expectations for after hours work mostly for senior management. It is a high visibility, high responsibility role with high compensation and high changes of success or failure. What are the commute t...
by davidsorensen32
Tue May 28, 2019 12:50 am
Forum: Personal Finance (Not Investing)
Topic: Unemployment OVER ! New job dilemma
Replies: 32
Views: 4155

Re: Unemployment OVER ! New job dilemma

Job2 is the answer for both questions. I thought about it a lot. But the $$$, responsibility of Job 1 is hard to ignore. Question 1: Taking everything into account (commute, job responsibilities, etc), which one would you look forward to going to the most? Question 2: Which job will give you the mos...
by davidsorensen32
Mon May 27, 2019 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Unemployment OVER ! New job dilemma
Replies: 32
Views: 4155

Re: Unemployment OVER ! New job dilemma

Great question. I'm early 40s. Asset base is big enough that 4% withdrawal + spouse salary = annual expenses. One HUGE concern is that I don't own a house. I question myself if I'll ever be able to afford a house in the Bay Area - so Job2 definitely helps. Benefits, vacation, office culture at both ...
by davidsorensen32
Mon May 27, 2019 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Unemployment OVER ! New job dilemma
Replies: 32
Views: 4155

Re: Unemployment OVER ! New job dilemma

I attribute that to Megacorp's unwillingness to pay my market value, and my unwillingness to push too hard since I thought getting experience in the "hot new tech" would pay off in the medium term. Megacorp is in a world of their own. Lots of lifers and old-timers here with 20,30 years of experience...
by davidsorensen32
Mon May 27, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Unemployment OVER ! New job dilemma
Replies: 32
Views: 4155

Re: Unemployment OVER ! New job dilemma

My experience interviewing for positions in the Bay Area the past few months has been that there is little to no value attributed to people management skills unless you've managed large teams (1000+). Middle managers, typically aged 40+, who have managed teams sized 10 to 100 are not very valued. Th...
by davidsorensen32
Mon May 27, 2019 1:15 am
Forum: Personal Finance (Not Investing)
Topic: Unemployment OVER ! New job dilemma
Replies: 32
Views: 4155

Unemployment OVER ! New job dilemma

Fellow Bogleheads, after months of rejections lady luck has finally shown me some love. Here are my 2 job offers. Looking for your wisdom Job1: $375k total comp Medium corp Position: manager with direct reports Management: awesome. Highly driven ,motivated. Lot of work (sometimes chaotic) , travel b...
by davidsorensen32
Fri Apr 05, 2019 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Losing a job in your 50's...
Replies: 451
Views: 67149

Re: Losing a job in your 50's...

When everyone is acutely aware of this issue that is permanently damaging our livelihood why doesn't anyone do something about it ? Call your representatives to initiate a bill in congress. ... Anyone denying that there is substantial, unchecked age discrimination affecting our labor and employment ...
by davidsorensen32
Fri Apr 05, 2019 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Is it bad to have nothing in taxable when you retire?
Replies: 62
Views: 7215

Re: Is it bad to have nothing in taxable when you retire?

Nope. As long as you've 25x - 35x in your pre-tax you're fine.
by davidsorensen32
Fri Apr 05, 2019 11:45 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1294
Views: 175936

Re: Post your Financial Milestone Announcements Here

2 commas used to be a badge of honor around here - a mark of "we've arrived". Not any more. Now it's $2M or above. :sharebeer
by davidsorensen32
Wed Apr 03, 2019 6:42 pm
Forum: Investing - Theory, News & General
Topic: Make sure your retirement investment plan includes being fired from your job in your 50s
Replies: 285
Views: 18577

Re: Make sure your retirement investment plan includes being fired from your job in your 50s

You're making a fundamental mistake in assuming that "business decisions" are "rational decisions". In 99.99% of the cases regarding age related layoffs they are NOT. As as for "incentives" - Here is why - bonuses depend on short term profits over 5-7 years. There 2 kinds of Megacorp CEOs - those wh...
by davidsorensen32
Wed Apr 03, 2019 3:18 pm
Forum: Investing - Theory, News & General
Topic: Make sure your retirement investment plan includes being fired from your job in your 50s
Replies: 285
Views: 18577

Re: Make sure your retirement investment plan includes being fired from your job in your 50s

Those of you pontificating on whether “upgrading skills” , “pay cuts”, “hair dyeing”, “top performer”, will save you - I can assure you they won’t. Megacorp will find one or the other excuse to purge you. So unless you have a time machine get ready for doom
by davidsorensen32
Wed Apr 03, 2019 9:37 am
Forum: Investing - Theory, News & General
Topic: Make sure your retirement investment plan includes being fired from your job in your 50s
Replies: 285
Views: 18577

Re: Make sure your retirement investment plan includes being fired from your job in your 50s

I don't need to look at any statistic. I have emails from HR as proof. At every single megacorp I've worked at in the Valley the modus operandi is as follows - first HR offers a "voluntary separation package" offer targeted exclusively at employees 50+ years or above , often there is a requirement o...
by davidsorensen32
Wed Apr 03, 2019 1:15 am
Forum: Investing - Theory, News & General
Topic: Make sure your retirement investment plan includes being fired from your job in your 50s
Replies: 285
Views: 18577

Re: Make sure your retirement investment plan includes being fired from your job in your 50s

OP, I can guarantee you that if you are in tech, especially in the SF Bay Area, you WILL be on a layoff list as soon as you hit 50. I kid you not. Every single company in the Bay Area actively discriminates against hiring anyone above 50. And existing employees are regularly culled from the herd as ...
by davidsorensen32
Thu Mar 21, 2019 10:15 pm
Forum: Investing - Theory, News & General
Topic: The $4,026,858.95 Car or a Worry-Free Retirement?
Replies: 245
Views: 13898

Re: The $4,026,858.95 Car or a Worry-Free Retirement?

While I’m glad for you, cycling is simply NOT an option for me and a very large number of Americans because of how our cities/ work places/ school locations are zoned and laid out . In addition chances of getting seriously injured or dying are way more higher when you are on your bike sharing the ro...
by davidsorensen32
Tue Mar 19, 2019 1:06 pm
Forum: Personal Investments
Topic: KF's rebalancing rule for the recession
Replies: 77
Views: 4404

Re: KF's rebalancing rule for the recession

So, in 3 years of a bear market you will withdraw $60,000 x 3 = $180,000 .this will reduce your bond to < $300,000 . Then you are trapped because you won’t be able to rebalance and buy stocks anymore while stocks remain in a bear market with depressed price davidsorensen32, My current bond position ...
by davidsorensen32
Tue Mar 19, 2019 11:48 am
Forum: Personal Investments
Topic: KF's rebalancing rule for the recession
Replies: 77
Views: 4404

Re: KF's rebalancing rule for the recession

KF, * What if your bonds fall to $200,000 at the same time as your stocks fall 50% ? * I don’t see your $300,000 bond position growing. You are not adding to it and you’re withdrawing $60,000 from it. So how will you ever be able to rebalance with it ? Folks, Please review and verify my plan. My ann...
by davidsorensen32
Tue Mar 12, 2019 11:18 pm
Forum: Personal Consumer Issues
Topic: Is there a better and cheeper way to send money......
Replies: 19
Views: 1954

Re: Is there a better and cheeper way to send money......

BTC
parigi723 wrote:
Tue Mar 12, 2019 5:44 am
Hello everyone!
Has anyone send money overseas? Do you use the service offered by Walmart? if not,which is the safer and most economical way to
do it.........As always many,many thanks,parigi.
by davidsorensen32
Fri Feb 15, 2019 12:01 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 968
Views: 130373

Re: How much money do you want to retire?

OP, 'want' = sky is the limit. 'need' is a more realistic question. 'will make' (before laid off or serious health condition or divorce etc.) is the real question. i.e. How much money will you make before you retire ? My answer is as much as I can make. Age discrimination is rife in technology. I do...
by davidsorensen32
Thu Feb 14, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 7535

Re: A different kind of midlife crisis

Smitcat, I was laid off 1+ years ago. Unable to find another megacorp job I worked with a friend to get startup up and running. Along the way I was constantly distracted - I realized that I did not possess most of the attributes I listed in my post. My entrepreneurship daydream became a nightmare. W...
by davidsorensen32
Thu Feb 14, 2019 10:37 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 7535

Re: A different kind of midlife crisis

Live life like you invest. Stay the course. With Megacorp. Unless you are fortunate to have the following prerequisites: Personal story. Key goal is to have ZERO distractions while you scratch your entrepreneurial itch. That means: * Solid home front on autopilot. Meanings kids doing well in school,...
by davidsorensen32
Thu Jan 17, 2019 1:17 am
Forum: Investing - Theory, News & General
Topic: Worst investing year ever....
Replies: 103
Views: 18371

Re: Worst investing year ever....

KF, how do you invest anything when you’re unemployed ? JBTX, Cash or Cash equivalent is making money before inflation. KlangFool Cash equivalents? Money Market. CD Ladders. Treasuries. ?? ?? Worst investing years are followed by best investing years are followed by . . . . . . . Sandtrap, There are...
by davidsorensen32
Thu Jan 17, 2019 1:11 am
Forum: Personal Finance (Not Investing)
Topic: Have I Now Become Out of Touch Financially? Aging question...
Replies: 90
Views: 11850

Re: Have I Now Become Out of Touch Financially? Aging question...

There’s plenty of people who have plenty of money in SoCal. If you’re not one of them, then try to be like one of them. People earn lots of money in SoCal. There are plenty of very high paying jobs. I’d bet most people in SoCal are up to their eyeballs in consumer revolving debt. I mean eye-watering...
by davidsorensen32
Thu Jan 17, 2019 1:07 am
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 58972

Re: John Bogle has died at age 89

If there is a God, and if there is a Heaven, I hope your soul gets a well deserved permanent pedestal of glory in the choicest bit of heaven. RIP great man. You shall be missed. They don’t make men like you anymore.
by davidsorensen32
Thu Dec 20, 2018 7:35 pm
Forum: Investing - Theory, News & General
Topic: Worst investing year ever....
Replies: 103
Views: 18371

Re: Worst investing year ever....

Except the year one spends unemployed/underemployed
KlangFool wrote:
Thu Dec 20, 2018 7:21 pm
willthrill81,

If you are prepared, every year is a good year.

KlangFool
by davidsorensen32
Thu Dec 20, 2018 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 524
Views: 43531

Re: Mr. Money Mustache, SWR, and equity allocation

Because I am a part time financial planner - I see peoples assets all the time. $4M - $5M at age 50+ in SF Bay Area is VERY common. You can believe what you want. I would just appeal to people's common sense to not believe all this FIRE Fugazi until they've seen proof. Thats all. No ! I'm not advoca...
by davidsorensen32
Thu Dec 20, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 524
Views: 43531

Re: Mr. Money Mustache, SWR, and equity allocation

No ! I'm not advocating anyone to release personal records. All I'm asking is for no one to believe all these blogs without proof. Its all fugazi without proof: watch this https://www.youtube.com/watch?v=xbBD7VIJ4cc (pardon the language) There is no real FIRE community. Its a whole bunch of daydream...
by davidsorensen32
Thu Dec 20, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 524
Views: 43531

Re: Mr. Money Mustache, SWR, and equity allocation

There is no real FIRE community. Its a whole bunch of daydreamers fantasizing a life they will NEVER have. Unless someone has released their entire tax/brokerage balance/retirement balance records DO NOT EVER BELIEVE THEM. Here among bogleheads we see 50-60 year old retirees with $4M - $5M in bank. ...
by davidsorensen32
Tue Dec 18, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Mr. Money Mustache, SWR, and equity allocation
Replies: 524
Views: 43531

Re: Mr. Money Mustache, SWR, and equity allocation

Ignore what he says. Instead follow what he does. He earns $400,000+ from his blog. Do you ?