Search found 109 matches

by ChowYunPhat
Sat Feb 16, 2019 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Early retirees, how much did you leave on the table?
Replies: 349
Views: 31051

Re: Early retirees, how much did you leave on the table?

So at the moment giving up 10 months of work I for the most part enjoy and am well compensated for to have 2 months more of doing what I want each year doesn't quite tip the scales yet. Someday the equation will change. Timelord, turning your question into an equation makes sense. I suspect when I'...
by ChowYunPhat
Fri Feb 15, 2019 5:10 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

The aging process hits everyone a little differently. I'm in a great spot professionally and enjoy my work (megacorp) although there are limited opportunities for advancement in my current role. I'm always looking 1-2 years down the road at the next opportunity and unsure if another megacorp will n...
by ChowYunPhat
Fri Feb 15, 2019 4:52 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

OP, I was a senior manager in IT, making big $'s. In my late 40's I grew tired of the b.s. and took a package and bought a UPS store (MBE at the time). It was in a great area, the store was top 10% revenue nationwide. People in the area had more money than time. Perfect. I worked it 10 hours a day,...
by ChowYunPhat
Fri Feb 15, 2019 4:49 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

In a megacorp, you could be a specialist. You only need to be good in one thing. In a business, you need to be good in several things and you need to partner with folks in the area that you are weak in. You need to do accounting, sell, marketing, product management, and customer management. Any wea...
by ChowYunPhat
Fri Feb 15, 2019 4:45 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

A few from my small circle of senior friends. 1. Started small high tech recycling business. Won contracts for Walmart, Government, State, other agencies for old computer dumping and other high tech equipment. Harvest what could be resold. Melted down for precious metals the rest. And so forth. Man...
by ChowYunPhat
Fri Feb 15, 2019 4:36 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

They're certainly not all distractions that yield little and damage your reputation. I know of somebody that despite a very high income at a "stable job" grew a side hustle into a far higher income and excellent jobs for four other people. It took a few years but like many side hustles could be don...
by ChowYunPhat
Fri Feb 15, 2019 4:30 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

I guess what I'm saying is there's more than one road to Dublin. You need to decide what you value. For many it's moving up the corporate ladder at megacorp, cuz they want something "safe" (nothing is truly safe). But for me, megacorps are soul crushing places to be. I'd rather have a root canal th...
by ChowYunPhat
Fri Feb 15, 2019 4:23 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

I would recommend that you stay at megacorp. There is clear data to show that financially, people are better off as employees rather than as entrepreneurs on average (this neglects the .1% that grow billion dollar companies of course) However, if you have 4 million in the bank and no debt and hate ...
by ChowYunPhat
Fri Feb 15, 2019 4:15 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

Why not compromise and try to find a role in a fresh startup? New experience, can grow/mentor a young business (and employees) and maybe hit an equity lottery ticket. Also still easy to bounce back unto megacap later on. I’m early career but went from a 5000-6000 person firm to bring the 5th employ...
by ChowYunPhat
Fri Feb 15, 2019 4:12 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

davidsorensen32 wrote:
Thu Feb 14, 2019 10:37 am
Live life like you invest. Stay the course. With Megacorp. Unless you are fortunate to have the following prerequisites:
.....
Thank you davidsorensen...that was a good list. I have the prereqs but am not in a hurry. Also wish you best of luck in your career transition.
by ChowYunPhat
Fri Feb 15, 2019 4:06 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

My Personal Experience: Educated in Business/Finance/Economics Worked in Finance Bored, Underpaid, Felt as if using only .0001% of abilities. Gave up steady paycheck, vacations, pension, job security (relatively speaking), comfort zone of an employee. Started a small R/E Development and General Com...
by ChowYunPhat
Fri Feb 15, 2019 3:59 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

The thought that a corporate job is safe, secure, always provides advancement, has less stress and will always pay the bills was not my experience. Certainly the stress I felt at the larger companies was mostly due to the fact that I could not correct and/or change the issues that threatened both t...
by ChowYunPhat
Fri Feb 15, 2019 3:55 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

His next entreprenurial idea combined two things he loved - flying small aircraft and photography. He has combined two related gigs into a full time job. He has been doing this for the last 10 -15 years and my friend reports that he really loves what he is doing. I'm not sure how successful the bus...
by ChowYunPhat
Fri Feb 15, 2019 3:52 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

Thanks DGM. I liked your question which seems to cut to the heart of the matter for many. This should be sobering if you're making decisions half-cocked. :wink: how terribly will you feel if, a few years down the road you are interviewing for your current position, have significantly depleted saving...
by ChowYunPhat
Fri Feb 15, 2019 3:46 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

I got out of corporate for a couple years and did my own thing. I found that I didn't enjoy having to "sell" my services, and I also had too much time on my hands. I went back to corporate....the safety and security of a regular predictable paycheck, and of benefits, etc. is less stressful for me p...
by ChowYunPhat
Fri Feb 15, 2019 3:43 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

One other perspective to consider is to take a more entrepreneurial role within your Megacorp or another Megacorp. Over the past 5+ years in my career, I have been slowly drifting closer to sales to where I am now officially part of the sales organization (did not necessarily plan this but is how t...
by ChowYunPhat
Fri Feb 15, 2019 3:35 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

Before you start, you need to ask yourself a very simple and important question: why would you want to do this? What is your motivation? Klangfool - it's a fair challenge. I'm at the stage of searching where developing rules or a heuristic for evaluating the next opportunities is next vs. vetting r...
by ChowYunPhat
Fri Feb 15, 2019 3:28 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

Smitcat - loved these pieces of your post. Taking your time to know yourself and properly research opportunities seems very important. I'm at the stage where my network has expanded to include people who can help evaluate as well as present opportunities. Would love to hear more about what you and y...
by ChowYunPhat
Thu Feb 14, 2019 9:01 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

Re: A different kind of midlife crisis

I want to recommend a podcast called Side Hustle School by Chris Guillibeau. He discuss one business idea per day. I suggest you pick up a side hustle and if you like it, develop it into a fill time business. Thanks RL - my bend would be towards changing careers vs. a side hustle. I'm "all in" rela...
by ChowYunPhat
Thu Feb 14, 2019 12:22 am
Forum: Personal Finance (Not Investing)
Topic: A different kind of midlife crisis
Replies: 60
Views: 6993

A different kind of midlife crisis

The aging process hits everyone a little differently. I'm in a great spot professionally and enjoy my work (megacorp) although there are limited opportunities for advancement in my current role. I'm always looking 1-2 years down the road at the next opportunity and unsure if another megacorp will ne...
by ChowYunPhat
Sun Feb 10, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Did you investigate your partner's financial background before committing?
Replies: 99
Views: 5648

Re: Did you investigate your partner's financial background before committing?

DW and I have had family members who have been duped, or frankly have terrible habits which put a strain on relationships. There are 2 risks in my mind: 1. Risk of being with someone who has ill intentions. Typically, these fraudsters are not patient and will move quickly, with passion and pressure....
by ChowYunPhat
Fri Feb 08, 2019 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: RSUs, 1099s, taxes... not adding up?
Replies: 22
Views: 892

Re: RSUs, 1099s, taxes... not adding up?

Fidelity shows the same for me, but always provides a Supplemental Information form at the back of the 1099 (entitled "Supplemental Stock Plan Lot Detail") that provides all of the information required to fill out the 8949 and Schedule D properly. I just use that information, but I also do my taxes...
by ChowYunPhat
Fri Feb 08, 2019 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: starting HDHP and HSA mid-year
Replies: 11
Views: 733

Re: starting HDHP and HSA mid-year

Should not be a problem. I switched employers in May of 2017 and went from a PPO to HDHP plan at a new employer. As this was considered a life event I could enroll in the HDHP and participate in the HSA including the full company match and IRS max despite joining mid-year. Fidelity managed the HSA.....
by ChowYunPhat
Sat Feb 02, 2019 8:22 am
Forum: Personal Consumer Issues
Topic: Tax Season Tax Options
Replies: 39
Views: 3527

Re: Tax Season Tax Options

Triple digit golfer wrote:
Sat Jan 26, 2019 1:45 pm
I am using freetaxusa at the recommendation of Bogleheads. So far I like it a lot.
+2

I've used Taxact for several years then tried FreeTaxUSA at Boglehead recommendation this year and so far so good. I'm still waiting on forms to finish the 8606s but otherwise looks OK so far.
by ChowYunPhat
Sat Jan 12, 2019 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire by 40 and How you Did it?
Replies: 162
Views: 21543

Re: Millionaire by 40 and How you Did it?

We were able to do this with teamwork and discipline. 10 things that probably made the biggest difference in our journey to $1MM by 40. 1. Married a frugal wife. 2. Lived in smaller house, below our means 3. 15 year mortgages only 4. 50% savings rate 5. Invest on auto pilot, Vanguard with Roth and T...
by ChowYunPhat
Sat Nov 17, 2018 7:46 pm
Forum: Personal Consumer Issues
Topic: How to pick a wifi router to replace one we rent from Cox?
Replies: 20
Views: 1315

Re: How to pick a wifi router to replace one we rent from Cox?

Sams or Costco will sell these at a decent price. Sometimes you can find nice deals on Amazon and Newegg.com as well. If you want to research, suggest starting at NewEgg and reading the reviews. Posters will tell you if their house & size was a good fit for the product. https://www.newegg.com/Wirele...
by ChowYunPhat
Thu Nov 01, 2018 6:24 pm
Forum: Personal Consumer Issues
Topic: What does the BH community do with their pets when they travel?
Replies: 78
Views: 6511

Re: What does the BH community do with their pets when they travel?

Petsitter works best for us. Neighborhood teen stays at the house. Dogs freak when you take them somewhere and drop them off. This. It can be hard to find that right person. We've used nieces and nephews in the past. Most recently we've had success using Nextdoor to find nearby young adults who don...
by ChowYunPhat
Mon Oct 22, 2018 5:53 pm
Forum: Personal Consumer Issues
Topic: Quitting w/o notice
Replies: 132
Views: 8896

Re: Quitting w/o notice

Another vote for giving the 2 week notice. I've been on both sides of this one....the notice is common courtesy to both your boss and co-workers who will have to shoulder the load once you're gone. I also appreciate being in a role where you wake up to panic attacks and are over-worked & under appre...
by ChowYunPhat
Tue Oct 16, 2018 6:54 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 203
Views: 11735

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

The following 2 articles are great examples of why I don't invest directly in int'l (and frankly a stark reminder of how little I understand int'l financial markets) when that money can be directed into US companies. This is obviously personal preference and a tilt within my portfolio. Satisfied wit...
by ChowYunPhat
Sun Sep 30, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Now or Wait
Replies: 18
Views: 1689

Re: Retirement Now or Wait

Halfmiler, you're in great shape. Lifetime of saving and preparation has you well prepared. Couple of considerations. You have 40x expenses..... 1. This. Mathematically, you have an almost guaranteed level of savings to cover at less than a 3% SWD. If retirement is interesting and exciting to you, I...
by ChowYunPhat
Sat Sep 22, 2018 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 157
Views: 13575

Re: Considering Quitting Job - Seeking Advice. Would you do it?

Man...just reading through the posts and journey....congrats team RW73! So happy for you and your family. I'm a day late but share same feelings as most other posters. Life is too short, and the meaning and pride you take in your work can be channeled elsewhere. I was in a caustic work environment w...
by ChowYunPhat
Fri Sep 21, 2018 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Thank you from a widow
Replies: 24
Views: 4901

Re: Thank you from a widow

I have benefited from this forum and the wisdom of its members for many years. You have helped me prepare for retirement, develop contingencies, .........Thank you for the wisdom you have shared and will continue to share. What you do is important. You have helped me, and you will help many, many m...
by ChowYunPhat
Sun Sep 16, 2018 1:58 pm
Forum: Personal Investments
Topic: Thinking of Retiring at 52, Please Critique Plan
Replies: 61
Views: 9655

Re: Thinking of Retiring at 52, Please Critique Plan

Travel424, welcome to the forum and appreciate you posting the question. It can feel awkward sharing a lifetime of financial work and seeking feedback. In summary, it seems you and your family have done very well and currently live a somewhat frugal lifestyle which lines up well with early/semi-part...
by ChowYunPhat
Thu Sep 13, 2018 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11745

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

This post really resonates with me. Spouse and I are in our early 40s with her in semi-retirement. We are both happy and able to spend and save at levels which are comfortable. Heading towards FI in the next couple of years, but really enjoying my work and am well compensated. I think about this top...
by ChowYunPhat
Sat Sep 01, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Last Will and testament involving very young children and 7 figure estate. What have you done?
Replies: 15
Views: 2185

Re: Last Will and testament involving very young children and 7 figure estate. What have you done?

For us, dealing with the money was the easiest part. Setting up our will for dealing with our children if we should both die close together was the more complicated part. For us, we didn't trust online wills to adequately take care of this part so we found an attorney to help guide us through the p...
by ChowYunPhat
Thu Aug 23, 2018 11:51 am
Forum: Forum Issues and Administration
Topic: Rating system for posts/posters ?
Replies: 60
Views: 3003

Re: Rating system for posts/posters ?

Agree with many of the posters on this already. Freefun put it best. This is probably the best forum I’ve seen. I came here for financial advice and ended up learning so much other stuff. If there were ratings I might have not read stuff I definitively benefited from. Love this the way it is and hap...
by ChowYunPhat
Thu Aug 23, 2018 11:07 am
Forum: Personal Consumer Issues
Topic: Test your cognitive biases
Replies: 89
Views: 5556

Re: Test your cognitive biases

Interesting test Victoria and fun. I also got the "better than 75%-100% of college graduates" but like other posters the math major probably helped a bit here. In fairness, I probably would have sided with DM below had I scored lower :) I scored "better than 75%-100% of college graduates". Full disc...
by ChowYunPhat
Thu Aug 23, 2018 10:46 am
Forum: US Chapters
Topic: Houston Chapter
Replies: 85
Views: 18272

Re: Houston Chapter

Interested in connecting as well. Live in Galleria but open to attending next Houston meet up.

Take care.
by ChowYunPhat
Wed Aug 22, 2018 10:29 am
Forum: Personal Consumer Issues
Topic: I own 1,387 items!
Replies: 128
Views: 10745

Re: I own 1,387 items!

DanMahowny wrote:
Wed Aug 22, 2018 10:05 am
My dog "owns" more than 100 things.
:D hahahah. This thread is so awful I can't turn away from it. I think my dogs may own more than 100 items too but probably won't get around to counting these things. Please keep the thread going.
by ChowYunPhat
Tue Aug 14, 2018 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage [How should finances be handled?]
Replies: 74
Views: 8034

Re: Marriage [How should finances be handled?]

Congrats on the upcoming marriage. It sounds like you're already making good decisions by attacking the student loans and investing. Once you're married, this may open up additional opportunities especially if both of you are working. -Fully fund Roths (or backdoor Roths if you're so lucky) -Take ad...
by ChowYunPhat
Sun Aug 05, 2018 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Question to retirees - money or work/life balance?
Replies: 46
Views: 5574

Re: Question to retirees - money or work/life balance?

TexasCPA, can you share a little more about some of the choices you feel you might be making in the coming years? I could guess based on your moniker but would be great to get more of your perspective.
by ChowYunPhat
Sat Aug 04, 2018 9:17 am
Forum: Personal Investments
Topic: Backdoor Roth Questions
Replies: 9
Views: 909

Re: Backdoor Roth Questions

Ted,

Recommend checking out the White Coat Investor tutorial at https://www.whitecoatinvestor.com/backd ... -tutorial/

This is an excellent step by step guide including screen shots of the your 8606 forms and should help you avoid some pitfalls too.

Good luck.
by ChowYunPhat
Fri Aug 03, 2018 3:42 pm
Forum: US Chapters
Topic: How did you become a Boglehead?
Replies: 53
Views: 3997

Re: How did you become a Boglehead?

There was an HBS case study in grad school that mentioned Fidelity and Vanguard...probably the most important 1 hour class in my life. Learned about Bogleheads through Vanguard investing after graduation.
by ChowYunPhat
Fri Aug 03, 2018 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable giving strategy
Replies: 43
Views: 2505

Re: Charitable giving strategy

This. The largest portion of my giving is to several places that I also support with my time as a volunteer. I give smaller amounts (usually toward the end of the year) to a few other causes I have settled on. I have enough causes on my list now, that I feel very comfortable declining any and all of...
by ChowYunPhat
Wed Aug 01, 2018 8:20 pm
Forum: Personal Consumer Issues
Topic: Best schools for an IB internship
Replies: 17
Views: 1545

Re: Best schools for an IB internship

It's great you're thinking ahead. College should be thought of as vocational prep and always better when you have some sense of where you'd like to land. I agree with much of what the other posters have said. In general, Ivy League attendance can get you an IB interview but you'll have to earn it pa...
by ChowYunPhat
Sun Jul 29, 2018 5:51 pm
Forum: Personal Investments
Topic: Should I Dump a Pile of Money on Young Son?
Replies: 157
Views: 14145

Re: Should I Dump a Pile of Money on Young Son?

Every time I see a post with the words "million dollars" the image of Lawrence from Office Space comes to mind....but I digress. Glad to hear your son is doing well, disciplined and seems to be on his way to a bright future. You can be truly thankful and proud at having played a part in his upbringi...
by ChowYunPhat
Thu Jul 26, 2018 7:31 pm
Forum: Personal Investments
Topic: Biggest financial decision of my life: selling a big wad of options
Replies: 46
Views: 5512

Re: Biggest financial decision of my life: selling a big wad of options

Neversell, welcome to the forum and congrats on your hard work and good fortune. You should feel great about the position you're in. You should also consider changing your username :D Most of the other posters have already covered it well, but I would reinforce the following: * Sell at your next tra...
by ChowYunPhat
Thu Jul 26, 2018 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Moral dilemma - What would you do?
Replies: 54
Views: 5960

Re: Moral dilemma - What would you do?

I typically sit on the other side of these deals, and are often faced with a dilemma of what to buy. I sympathize with the situation. Often times there are : * "Solutions trying to find a problem" * A standard product which doesn't have a published price. Big companies charged more for the same item...
by ChowYunPhat
Thu Jul 26, 2018 5:45 pm
Forum: Investing - Theory, News & General
Topic: Facebook stock in freefall! (20% drop in 1-day)
Replies: 120
Views: 11566

Re: Facebook stock in freefall! (20% drop in 1-day)

FB on sale today....that is if you're in to buying individual stocks.
by ChowYunPhat
Thu Jul 19, 2018 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 120
Views: 17626

Re: New book based on Millionaire Next Door

Millionaire Next Door, Millionaire Mind, Stop Acting Rich and Millionaire Women Next Door were all excellent. I will definitely be picking up the next book up. These books reinforced concepts I learned, but also helped me feel part of a community that wanted to generate wealth and live life differen...