Search found 986 matches

by mak1277
Mon Jun 24, 2019 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Buying new construction inventory home. Seemingly standard feature appears missing. What to do?
Replies: 41
Views: 2339

Re: Buying new construction inventory home. Seemingly standard feature appears missing. What to do?

If it's on your plans and in your contract, then you should ask. I would ask as soon as possible. While you might not want to be litigious, I think this is a situation where at least the threat of a lawsuit would help you move things along...if for some reason they don't just agree to put it in. I t...
by mak1277
Mon Jun 24, 2019 7:41 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3803
Views: 1094173

Re: What Book Are You Currently Reading? Part VI

Getting close to finishing The Right Stuff...absolutely loved it. Can anyone recommend a good follow-up to that that continues the story with the next steps in the space program?
by mak1277
Mon Jun 10, 2019 4:04 pm
Forum: Personal Consumer Issues
Topic: Are destinations weddings a new trend?
Replies: 8
Views: 652

Re: Are destinations weddings a new trend?

If there was ever a day/event to have as a "me first" type of thing, a wedding seems like it would be tops on the list.
by mak1277
Fri Jun 07, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Highly appreciated whiskies
Replies: 34
Views: 3386

Re: Highly appreciated whiskies

I would simply not concern myself with the current market value. Not everything is a financial decision. If you don't like the product, then by all means sell it, but don't use the current market price as a reason not to enjoy something you bought at a price that you were happy with. If I could buy ...
by mak1277
Thu Jun 06, 2019 7:51 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3803
Views: 1094173

Re: What Book Are You Currently Reading? Part VI

I am reading Seneca's On the Shortness of Life: Life is Long if You Know How to Use It. What is more valuable then money? Time! This book is about making the best use of your time. I highly recommend it. " It is not that we have a short time to live, but that we waste a lot of it. Life is long enou...
by mak1277
Wed Jun 05, 2019 8:13 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3803
Views: 1094173

Re: What Book Are You Currently Reading? Part VI

I am reading Seneca's On the Shortness of Life: Life is Long if You Know How to Use It. What is more valuable then money? Time! This book is about making the best use of your time. I highly recommend it. " It is not that we have a short time to live, but that we waste a lot of it. Life is long enou...
by mak1277
Wed Jun 05, 2019 8:07 am
Forum: Personal Consumer Issues
Topic: Resort vacation w/ 6 month old...?
Replies: 30
Views: 1685

Re: Resort vacation w/ 6 month old...?

I thought some of the most relaxing trips were when our children were babies. Their needs at that age are pretty simple, eating (especially breast fed) and taking lots of naps. The most difficult parts were always the getting to and from, i.e. strapped down in a car seat or in a loud airplane. Fort...
by mak1277
Wed May 22, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11320

Re: Should I encourage my kids to work in high school/college?

We all want better for our children. That’s what I would have thought, also. There are frequent posts that boil down to “xxx was good enough for me, I turned out well, so it will be good enough for my kids.” I understand that some families have limits dictated by circumstances; I’m referring to tho...
by mak1277
Wed May 22, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11320

Re: Should I encourage my kids to work in high school/college?

We all want better for our children. That’s what I would have thought, also. There are frequent posts that boil down to “xxx was good enough for me, I turned out well, so it will be good enough for my kids.” I understand that some families have limits dictated by circumstances; I’m referring to tho...
by mak1277
Wed May 22, 2019 8:37 am
Forum: Personal Finance (Not Investing)
Topic: How much house (% of NW) should a retiree have?
Replies: 16
Views: 1940

Re: How much house (% of NW) should a retiree have?

I don't think the percentage of net worth matters at all. In my mind, the only question that matters is whether or not my investable assets can support my expenses in retirement. The value of my residence doesn't change my needs in terms of investable assets.
by mak1277
Wed May 22, 2019 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11320

Re: Should I encourage my kids to work in high school/college?

If we looked at the answers offered, we would think that working a minimum job as a kid would boost your personality and you would land in a megasalary job. Unfortunately, research says personality is formed much earlier (Seven Series, ...) As a teenager I worked offering database solutions to the ...
by mak1277
Tue May 21, 2019 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11320

Re: Should I encourage my kids to work in high school/college?

One other aspect of working in high school that really helped me was the realization that I could reinvent myself. Both school and sports involved the same general group of people, whereas my first high school job was with a completely different group of people (most of them older). I realized that ...
by mak1277
Tue May 21, 2019 7:58 am
Forum: Personal Consumer Issues
Topic: Recently promoted - how to match image with title?
Replies: 54
Views: 4907

Re: Recently promoted - how to match image with title?

Not a woman, but I did spend a significant amount of time in a profession where I was always the youngest person in the room for meetings (e.g., making presentations to F500 boards in my mid- to late-20s). More than anything, the key (in my mind) is that when you speak you need to speak with authori...
by mak1277
Mon May 20, 2019 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11320

Re: Should I encourage my kids to work in high school/college?

Found out that one of my nieces/nephews got his first minimum wage job, and his grandparents are quite proud of him to be gainfully employed. I winced when I heard that. It will be distracting from studying, extra curricular activities, and the like. Based on that, I'd be really hesitant to encoura...
by mak1277
Mon May 20, 2019 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 204
Views: 11320

Re: Should I encourage my kids to work in high school/college?

I got a job as soon as I got my driver's license because I didn't like asking my parents for gas money. I continued to get good grades and play sports while working, although I suspect the world was a lot different then (90s) because I don't recall spending much time on homework even in high school....
by mak1277
Mon May 20, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 14379

Re: FIRE - What am I missing in the News Stories

Sam1 wrote:
Mon May 20, 2019 12:43 pm
I also can have someone clean my house weekly, take a taxi when there is bad weather, order takeout when I’m tired, buy something overpriced because I like it, etc.
I'm planning to FIRE and still be able to do all of those things comfortably. It's not always an either/or choice.
by mak1277
Mon May 20, 2019 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6596

Re: Do you reward yourself for achieving a financial goal?

And finally the Rolex (or other expensive watch) example: They hold their value to some extent. If you compare it with an apple watch that you have to replace every 2 years, you might be better off with a rolex. A rough estimate: 10 years maybe depreciates a rolex with 2k out of its 5k, and 5 apple...
by mak1277
Wed May 15, 2019 1:27 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 101
Views: 11607

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

My question is...for those who are doing well financially, what keeps you motivated? When is time more important than money? I think you have 2 erroneous assumptions in your question. First, you assume money is their motivation because you assume they lose their motivation when they get money (beco...
by mak1277
Wed May 15, 2019 1:17 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 101
Views: 11607

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

My question is...for those who are doing well financially, what keeps you motivated? When is time more important than money? I think you have 2 erroneous assumptions in your question. First, you assume money is their motivation because you assume they lose their motivation when they get money (beco...
by mak1277
Wed May 15, 2019 12:27 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 101
Views: 11607

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

Based on what you describe, I think you need to evaluate the value of the 9-5 job. You likely don't need it from a financial point of view. You need to decide if it's something you want to do because of the nature of the work, or because there is significant additional growth opportunity. If I was i...
by mak1277
Wed May 15, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6596

Re: Do you reward yourself for achieving a financial goal?

Buying something because you saved a bunch of money is akin to eating ice cream because you achieved a new weight loss goal. No, I don't go out and buy something because of meeting a financial goal. Back in the day, in my late 20s, I got my cholesterol checked for the first time. Found out it was n...
by mak1277
Wed May 15, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6596

Re: Do you reward yourself for achieving a financial goal?

I don't buy things when I hit milestones, I buy them when I want them. I bought a Rolex because I wanted it. I go on nice vacations because I want to.

I don't believe early retirement would be worth it if I had to live less of a life than I desire.
by mak1277
Mon May 13, 2019 1:21 pm
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10481

Re: Does your retirement plan work if stocks are flat or in decline for decades?

It depends. If SS is eliminated,, I would be screwed. If SS is cut be 25% and keep what I have , ok.. If I lose 50% for over a decade, I am again in deep doo doo. SS comes nowhere into my retirement planning. I am in my 30's. It will be either greatly reduced or have a significantly older eligibili...
by mak1277
Mon May 13, 2019 11:02 am
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10481

Re: Does your retirement plan work if stocks are flat or in decline for decades?

Clearly you can believe what you wish but SS is the most popular entitlement there is, and it's not going anywhere. The sky is not falling. The changes needed are very minor in relative terms: higher income cutoff (probably the easiest to implement), higher FRA (seems likely but will be phased in) ...
by mak1277
Mon May 13, 2019 10:46 am
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10481

Re: Does your retirement plan work if stocks are flat or in decline for decades?

It depends. If SS is eliminated,, I would be screwed. If SS is cut be 25% and keep what I have , ok.. If I lose 50% for over a decade, I am again in deep doo doo. SS comes nowhere into my retirement planning. I am in my 30's. It will be either greatly reduced or have a significantly older eligibili...
by mak1277
Mon May 13, 2019 10:40 am
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10481

Re: Does your retirement plan work if stocks are flat or in decline for decades?

If they earn 0%, yes - will be just fine. If they decline, well, it depends on how much. For retirement funding, we are supplying enough in principal to sustain in retirement. Any gains from the market just make things more comfortable. It depends. If SS is eliminated,, I would be screwed. If SS is...
by mak1277
Mon May 13, 2019 10:15 am
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10481

Re: Does your retirement plan work if stocks are flat or in decline for decades?

I don't have a plan for specific bad events (e.g., healthcare costs, bad markets, etc.), but I do have a series of cushions in my retirement plan that will allow us to weather a storm or two: - ability to go back to work - sub-4% planned withdrawl rate (really it's going to end up being sub-3% by th...
by mak1277
Fri May 10, 2019 8:09 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 404
Views: 101511

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

Made it to $1.5 by age 38. Main factors - High performance at work (early promotions, etc.) and high performing spouse (two 6-figure incomes from age 30-38 helped quite a bit). I can't say we have ever been "frugal" but we have never been excessive either. From 38-42, high performing stock options r...
by mak1277
Thu May 09, 2019 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: House selling - modern norms
Replies: 36
Views: 5304

Re: House selling - modern norms

I'd begin by identifying the three most successful real estate agents in your area, and would ask them each for how they would propose marketing the home and for their advice about the cost/benefit of repairs/updating which may have a positive impact on how quickly and for what price the home will ...
by mak1277
Thu May 09, 2019 12:59 pm
Forum: Personal Consumer Issues
Topic: Good town to stop on I-81
Replies: 42
Views: 3291

Re: Good town to stop on I-81

Damascus, VA (a bit off 81) or Abingdon. Check out the VIrginia Creeper Trail...great rails-to-trails bike trail. The Appalachian Trail also runs into Damascus' downtown and you're close to Mt. Rogers/Greyson Highlands, a beautiful area. I think OP is getting on 81 via I-77 and going north from the...
by mak1277
Thu May 09, 2019 10:06 am
Forum: Personal Consumer Issues
Topic: Good town to stop on I-81
Replies: 42
Views: 3291

Re: Good town to stop on I-81

Damascus, VA (a bit off 81) or Abingdon. Check out the VIrginia Creeper Trail...great rails-to-trails bike trail. The Appalachian Trail also runs into Damascus' downtown and you're close to Mt. Rogers/Greyson Highlands, a beautiful area.
by mak1277
Tue May 07, 2019 10:50 am
Forum: Personal Finance (Not Investing)
Topic: pre-qualified to get on the list
Replies: 45
Views: 3079

Re: pre-approval to get on the list

Why do you have to disclose how you plan to finance the house (or not) order to get a pre-approval? Just provide the documentation, get the pre-approval, and when it comes to making an offer in the future, make a cash offer. Ok but would the mortgage company even want to bother with me if I am not ...
by mak1277
Fri May 03, 2019 10:20 am
Forum: Personal Consumer Issues
Topic: What non fiction book will you be reading in 2019?
Replies: 188
Views: 16883

Re: What non fiction book will you be reading in 2019?

Educated and American Wolf are the best two nonfictions I've read this year so far.
by mak1277
Thu May 02, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3504

Re: The goal of achieving FI

Hmm, i think I realise why I used the word 'degenerate' here. The initial idea was that we are supposed to be productive at work pre-FI. Then what about post-FI? We keep our day job (and hence, productivity to nation) because we need that earned income to grow our portfolio. So, once I got my FI, I...
by mak1277
Thu May 02, 2019 8:49 am
Forum: Investing - Theory, News & General
Topic: Share Buybacks — Savior of the U.S. Equity Market?
Replies: 58
Views: 4162

Re: Share Buybacks — Savior of the U.S. Equity Market?

One thing I don’t understand. Let’s say a company has 1 billion in cash why would using that cash for a buy back boost the share price rather than leaving it in cash on account where it is already priced in? Assume the money is not paid as a dividend. Surely the reason to buy back your own shares i...
by mak1277
Thu May 02, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3504

Re: The goal of achieving FI

Financial Independence, so that: I can do whatever I want, whenever I want, however I want it. Your goal writing needs to be better. You will never be able to fly to mars in a submarine. So, as written, you will fail in your goal. Being a bit more reasonable, would you consider yourself have failed...
by mak1277
Wed May 01, 2019 11:23 am
Forum: Personal Investments
Topic: Social responsibility investing in my 401k?
Replies: 13
Views: 707

Re: Social responsibility investing in my 401k?

If I was going to do something like this, the main thing I would want to understand is how the fund made its determinations about what is in vs. what is out. Socially-responsible investing and ESG-focused funds differ in what they include/exclude.
by mak1277
Tue Apr 30, 2019 12:32 pm
Forum: Personal Investments
Topic: Kids Gift Money in a Vanguard Target Retirement Fund
Replies: 30
Views: 1341

Re: Kids Gift Money in a Vanguard Target Retirement Fund

I'm totally on board with the concept, and I am doing something similar with my one year old's college money...I put a big slug into a target date fund for when he'll turn 18. Awesome! Do you have that in a UTMA or just in your own brokerage account? My brokerage account. It's my money, not the kid...
by mak1277
Tue Apr 30, 2019 10:23 am
Forum: Personal Investments
Topic: Kids Gift Money in a Vanguard Target Retirement Fund
Replies: 30
Views: 1341

Re: Kids Gift Money in a Vanguard Target Retirement Fund

I'm totally on board with the concept, and I am doing something similar with my one year old's college money...I put a big slug into a target date fund for when he'll turn 18.
by mak1277
Tue Apr 30, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

It would be curious how many VPs making 1MM per year have a net worth higher than the frugal IC engineer (adjusted for age). My wife and I each make 140k per year as ICs at megacorps. At 35 we're already at 1.5MM. My comments were solely in response to the above sentence. I am not (nor could I) mak...
by mak1277
Tue Apr 30, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

I did smile inwardly and wonder if the VP dude would have been surprised to know the lower level individual contributor engineer on the jet with him had a... comfy... portfolio. It would be curious how many VPs making 1MM per year have a net worth higher than the frugal IC engineer (adjusted for ag...
by mak1277
Mon Apr 29, 2019 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

HEDGEFUNDIE wrote:
Sat Apr 27, 2019 1:11 am
Do people really only work for the money? Even in corporate jobs there is still the satisfaction of a job well done.
I would say that my most satisfying day of work ever is still not as enjoyable as my most mundane weekend day where I accomplish nothing.
by mak1277
Mon Apr 29, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

I did smile inwardly and wonder if the VP dude would have been surprised to know the lower level individual contributor engineer on the jet with him had a... comfy... portfolio. It would be curious how many VPs making 1MM per year have a net worth higher than the frugal IC engineer (adjusted for ag...
by mak1277
Fri Apr 26, 2019 9:12 am
Forum: Personal Investments
Topic: 2,000,000. Now what?
Replies: 45
Views: 9423

Re: 2,000,000. Now what?

Whatever you the do, don't get sucked into the hype and make a big bet on the Browns to win the Super Bowl...or even the AFC North...this year. :D
by mak1277
Fri Apr 26, 2019 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

The way I look at it is in terms of total hours worked. If you get promoted and have to work 50% more hours for 10 years, but get paid enough that you can retire 10 years earlier, then you win in the long term (obviously there are other tradeoffs to going from 40 to 60 hour weeks though). But the w...
by mak1277
Thu Apr 25, 2019 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

I started a thread like this a few months ago. For me, I don't see the point. My wife and I are mid 40s and hit the 2 comma club at 39 through aggressive saving and index fund investing. It's only increased since then. I was on a recent biz trip on the corporate jet with a senior VP and I think for...
by mak1277
Thu Apr 25, 2019 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

I started a thread like this a few months ago. For me, I don't see the point. My wife and I are mid 40s and hit the 2 comma club at 39 through aggressive saving and index fund investing. It's only increased since then. I was on a recent biz trip on the corporate jet with a senior VP and I think for...
by mak1277
Wed Apr 24, 2019 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 17056

Re: Whats the Point of Climbing the Corporate Ladder?

Whats the point of climbing the corporate ladder if I'm fine with my current salary and position and can hit all my financial goals without future promotions raises etc? I am at a point where boss says I can be promoted but must be willing to work more hours be available at all times of day etc. Ba...
by mak1277
Tue Apr 23, 2019 8:26 am
Forum: Personal Consumer Issues
Topic: At what age did you buy your first first class airplane ticket?
Replies: 112
Views: 4549

Re: At what age did you buy your first first class airplane ticket?

First class, totally out of pocket, for our honeymoon at age 29. Absolutely worth it. Have flown first/business class on my own nickel many times since then and never regretted it for a second.
by mak1277
Fri Apr 19, 2019 9:06 am
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 77
Views: 5120

Re: When did you start spending more and saving less?

I have always spent the amount that I wanted to spend to live my life. When I didn't make much, I didn't save much. When my salary increased, I started saving. When I retire, I'll go back to spending more than I save. "pay yourself first" to me means you live the life you want to live today, not wor...