Search found 1161 matches

by goodenyou
Wed Jan 18, 2012 1:28 am
Forum: Investing - Help with Personal Investments
Topic: Advice for graduating medical school couple
Replies: 53
Views: 5365

Re: Advice for graduating medical school couple

Why worry about a home downpayment fund now? When you leave residency you'll earn $400-700k. That's at least $250k after tax. So, rent an apt for 1 year, use that time to pick your neighborhood, and save the whole downpayment that 1st year. If you want a really nice house, rent for 18 months. I wou...
by goodenyou
Wed Jan 18, 2012 12:51 am
Forum: Investing - Help with Personal Investments
Topic: Advice for graduating medical school couple
Replies: 53
Views: 5365

Re: Advice for graduating medical school couple

Why worry about a home downpayment fund now? When you leave residency you'll earn $400-700k. That's at least $250k after tax. So, rent an apt for 1 year, use that time to pick your neighborhood, and save the whole downpayment that 1st year. If you want a really nice house, rent for 18 months. I wou...
by goodenyou
Wed Jan 18, 2012 12:44 am
Forum: Investing - Help with Personal Investments
Topic: Advice for graduating medical school couple
Replies: 53
Views: 5365

Re: Advice for graduating medical school couple

Seems criminal in the current interest rate environment to pay 6+ percent for medical school loans?? What bulls-it. Less and less incentive to go into medicine every year.... :? You are correct. Less financial incentive is one thing, but this is financial peril. There are a lot of bright minds that...
by goodenyou
Wed Jan 18, 2012 12:29 am
Forum: Investing - Help with Personal Investments
Topic: Advice for graduating medical school couple
Replies: 53
Views: 5365

Re: Advice for graduating medical school couple

Seems criminal in the current interest rate environment to pay 6+ percent for medical school loans?? What bulls-it. Less and less incentive to go into medicine every year.... :? You are correct. Less financial incentive is one thing, but this is financial peril. There are a lot of bright minds that...
by goodenyou
Mon Jan 16, 2012 11:28 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for graduating medical school couple
Replies: 53
Views: 5365

Re: Advice for graduating medical school couple

Seems criminal in the current interest rate environment to pay 6+ percent for medical school loans?? What bulls-it. Less and less incentive to go into medicine every year.... :? You are correct. Less financial incentive is one thing, but this is financial peril. There are a lot of bright minds that...
by goodenyou
Mon Jan 16, 2012 10:33 am
Forum: Investing - Help with Personal Investments
Topic: Advice for graduating medical school couple
Replies: 53
Views: 5365

Re: Advice for graduating medical school couple

In light of the future of medicine from an economic standpoint, this kind of debt load is astounding. I hope you are very dedicated to this profession, because we have asked you to mortgage your future for the privilege of practicing medicine. You will have to live very frugally for many years while...
by goodenyou
Mon Jan 09, 2012 12:03 am
Forum: Investing - Help with Personal Investments
Topic: Lynn Jimenez On Money Talk
Replies: 34
Views: 8518

Re: Lynn Jimenez On Money Talk

IMO she is awful. Offers nothing. Very unqualified and really dumbs down the show. She also referred to a 501k. Huh? She kept qualifying her attempts at answers with "I am not a tax person" even when they were simple investing questions. I can't for the life of me see what the people of MoneyTalk se...
by goodenyou
Fri Jan 06, 2012 12:30 am
Forum: Investing - Help with Personal Investments
Topic: Wisdom for a high income family
Replies: 131
Views: 17288

Re: Wisdom for a high income family

Freedom from obligation is the pinnacle of success. Very nicely put. This is an interesting lense through which to view the world. Success for me has always involved multiple endpoints involving personal, family, professional, religious and wealth goals; I'm not inclined to believe their is a solit...
by goodenyou
Thu Jan 05, 2012 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Wisdom for a high income family
Replies: 131
Views: 17288

Re: Wisdom for a high income family

thanks for all the good sensible advice; and a few i will ignore. the overwhelming premises are basically save more and invest wisely. the investment strategies are not far removed from what i had in mind 5 years ago (reflection of this site in general). the only question is whether to hire a profe...
by goodenyou
Tue Jan 03, 2012 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Wisdom for a high income family
Replies: 131
Views: 17288

Re: Wisdom for a high income family

thanks for all the good sensible advice; and a few i will ignore. the overwhelming premises are basically save more and invest wisely. the investment strategies are not far removed from what i had in mind 5 years ago (reflection of this site in general). the only question is whether to hire a profe...
by goodenyou
Tue Jan 03, 2012 2:28 pm
Forum: Investing - Help with Personal Investments
Topic: What would you change if you had a 9-figure portfolio?
Replies: 31
Views: 3161

Re: What would you change if you had a 9-figure portfolio?

My wife....just kidding....that question was ripe for that :D
by goodenyou
Thu Dec 29, 2011 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: Wisdom for a high income family
Replies: 131
Views: 17288

Re: Wisdom for a high income family

Freedom from obligation is the pinnacle of success. You're certainly entitled to your opinion. I don't happen to agree with this. Besides that fact that impossible to be free of obligation in modern society, I wouldn't consider being debt-free but scraping by on next to nothing to be any measure of...
by goodenyou
Thu Dec 29, 2011 3:11 pm
Forum: Investing - Help with Personal Investments
Topic: Wisdom for a high income family
Replies: 131
Views: 17288

Re: Wisdom for a high income family

Freedom from obligation is the pinnacle of success. You're certainly entitled to your opinion. I don't happen to agree with this. Besides that fact that impossible to be free of obligation in modern society, I wouldn't consider being debt-free but scraping by on next to nothing to be any measure of...
by goodenyou
Mon Dec 26, 2011 10:46 am
Forum: Investing - Help with Personal Investments
Topic: Paying Mortgage Ahead
Replies: 42
Views: 7869

Re: Paying Mortgage Ahead

Be careful of making extra payments without explaining how you want them categorized. If you do not state that you want addition payments credited toward principle, lenders will often credit additional payments toward advance payments. That is, they allow you to "not pay for several months" by virtu...
by goodenyou
Mon Dec 26, 2011 10:23 am
Forum: Investing - Help with Personal Investments
Topic: Wisdom for a high income family
Replies: 131
Views: 17288

Re: Wisdom for a high income family

One asset class in the asset allocation recommendations often overlooked is the asset allocation of spending. Yes, happiness derived from spending is an asset. The best advice often given is to "live below your means". That is very hard for people to conceptualize and and is subjective. For "spender...
by goodenyou
Thu Dec 22, 2011 9:18 am
Forum: Investing - Help with Personal Investments
Topic: When do you not invest?
Replies: 23
Views: 2696

Re: When do you not invest?

[political comments removed by Mod]
by goodenyou
Tue Dec 13, 2011 11:34 pm
Forum: Investing - Help with Personal Investments
Topic: Parking Spot for Cash
Replies: 8
Views: 1511

Re: Parking Spot for Cash

The hard decision is not what to do with it in the very short term (Bank, CDARS). It's what to do with it after that. If you have great suggestions, I'd like to hear them.
by goodenyou
Sun Dec 04, 2011 5:55 pm
Forum: Investing - Help with Personal Investments
Topic: Million dollar question, literally
Replies: 35
Views: 4504

Re: Million dollar question, literally

At least he has have plenty of time to rebound from doing something really stupid with the money. $1 million is a good chunk of change, but not "quit your job money". Put it in a safe investment 50/50 and use it to get to critical mass. It will take a lot more than a million. He will regret spending...
by goodenyou
Fri Nov 04, 2011 5:44 am
Forum: Investing - Help with Personal Investments
Topic: yet another MD looking for portfolio advice/review
Replies: 24
Views: 2983

Re: yet another MD looking for portfolio advice/review

ALL investing is a "bet" of some sort. You are very smart in assuming your husband's specialist income will go down in the future. There is a marginal utility of risk. If you have a lot of free cash flow (living well below your means), I would lock-in a return with paying off the mortgage. You will ...
by goodenyou
Mon Oct 10, 2011 1:35 pm
Forum: Investing - Help with Personal Investments
Topic: How Do You Calculate return?
Replies: 2
Views: 510

How Do You Calculate return?

If you put $10,000 in the Total Stock Market Index Fund in January 2000 and dollar cost averaged $500/month, how much would the investment be worth today and what is the ROI? Is there a calculator that is available for this?
by goodenyou
Mon Oct 10, 2011 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: Question for the physicians who invest
Replies: 29
Views: 2893

I suggest you drop seeing yourself as somehow different because you are an MD. Your investing needs will be the same as anyone else's in the same tax bracket. You just create extra complications by seeing yourself as different from everyone else. Just plan on your income going down every year. Most...
by goodenyou
Mon Oct 10, 2011 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: Question for the physicians who invest
Replies: 29
Views: 2893

livesoft wrote:Hey, it ain't rocket surgery, so you are not gonna get any sympathy. :twisted:

Let me ask you this: Please name 20 other jobs or professions where salary or pay goes from zilch to 6 figures or more. Be bold!

....when you are in your 30s with $250,000+ of debt
by goodenyou
Mon Oct 10, 2011 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Question for the physicians who invest
Replies: 29
Views: 2893

The best thing you can do to preserve your assets and net worth is to never get a divorce, plus a prenup isn't a bad idea at all. In most states, a divorce automatically results in a loss of 50% or more of your assets. This can be far more important that asset allocations and investment options, an...
by goodenyou
Mon Oct 10, 2011 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Am I Crazy to Pay Off My Mortgage?
Replies: 71
Views: 10279

I had same decision this year. I have 5+ years expenses in cash, and still have been DCAing into Total Index Bond and Stock funds. I have NOT made a dime of money in the past TEN years in the stock market, but it is long term money (20+ years). I paid off the house with a lump sum of $100k+ and lock...
by goodenyou
Mon Aug 22, 2011 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: advice for new investor/young physician
Replies: 24
Views: 3394

I think most/many doctors assume that they'll make really good money after they finish with their training and move into private practice or a hospital practice. The whole world is changing out there for young and older docs alike. The pay is only going down, and I don't mean by just a little bit. ...
by goodenyou
Mon Aug 22, 2011 8:59 am
Forum: Investing - Help with Personal Investments
Topic: advice for new investor/young physician
Replies: 24
Views: 3394

I wouldn't be in a rush to pay off that debt. You aren't making lots of money right now, but you will in the future. Why not let your richer, future self pay off the debt? You'll enjoy your income a lot more right now. I would be very careful with that advice. Assume the money to made in medicine i...
by goodenyou
Sun Aug 21, 2011 8:55 am
Forum: Investing - Help with Personal Investments
Topic: Early retirement living off entirely taxable portfolio
Replies: 28
Views: 7862

What you realize is that your greatest asset class is your health and finding a meaningful, enjoyable way to earn income. Replacing a (substantial) earned income with investment income is tough. Sorry for the obvious, but this thread made me do some thinking about retiring in my mid-40s.
by goodenyou
Wed Jul 13, 2011 3:11 pm
Forum: Investing - Help with Personal Investments
Topic: US Treasury: Savings bonds go digital in January
Replies: 7
Views: 1177

US Treasury: Savings bonds go digital in January

US Treasury: Savings bonds go digital in January Savings bonds will no longer be sold in paper form; New bonds issued electronically on Jan. 1 http://finance.yahoo.com/news/US-Treasury-Savings-bonds-go-apf-2239354464.html?x=0&sec=topStories&pos=7&asset=&ccode= Now $10,000/yr electronically? Only rea...
by goodenyou
Thu Jul 07, 2011 8:09 am
Forum: Investing - Help with Personal Investments
Topic: Investing Tips for Doctors
Replies: 43
Views: 6489

Doctors don't even know how to CPT/ICD-9 code properly let alone know how to invest. The attitude is that it is "beneath them" until they realize that they have to make a living. Life is not all about learning, taking tests and pleasing superiors. It is a crying shame doctors are so ill-prepared. T...
by goodenyou
Tue Jul 05, 2011 9:46 pm
Forum: Investing - Help with Personal Investments
Topic: Investing Tips for Doctors
Replies: 43
Views: 6489

Doctors don't even know how to CPT/ICD-9 code properly let alone know how to invest. The attitude is that it is "beneath them" until they realize that they have to make a living. Life is not all about learning, taking tests and pleasing superiors. It is a crying shame doctors are so ill-prepared. Th...
by goodenyou
Mon Jun 06, 2011 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with excess contributions to my SEP-IRA.
Replies: 21
Views: 4101

So, just to keep it simple: (1) find out exact amount of overage (2) recharacterize that amount back to 2010 SEP (3) move what i can to 2011 SEP (4) move any remaining excess back to taxable and pay the tax/penalties Is this what is being recommended? I had same problem. I (over) funded a 2009 SEP ...
by goodenyou
Wed Jun 01, 2011 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Hi
Replies: 30
Views: 4194

Save while you can because the profession has cross-hairs on it. IMHO, the future is not very bright in medicine. If you plan on kids, and you want to raise them, then your income will take a hit for a while (possibly a long time) if your wife wants to be a mother. My wife had a high income and gav...
by goodenyou
Wed Jun 01, 2011 9:54 am
Forum: Investing - Help with Personal Investments
Topic: Hi
Replies: 30
Views: 4194

Save while you can because the profession has cross-hairs on it. IMHO, the future is not very bright in medicine. If you plan on kids, and you want to raise them, then your income will take a hit for a while (possibly a long time) if your wife wants to be a mother. My wife had a high income and gave...
by goodenyou
Wed Jun 01, 2011 5:14 am
Forum: Investing - Help with Personal Investments
Topic: Hi
Replies: 30
Views: 4194

What has been described is the marginal utility of risk. When you make enough money to fund a lifestyle that makes you "happy" ( and the less you can do it on, the better) and you have a lot of excess free cash flow to save, your need to assume additional risk is minimal. Compound that with a debt-a...
by goodenyou
Mon May 30, 2011 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: Newly Married Couple-Are we ever going to be able to retire?
Replies: 27
Views: 3695

The only thing you have to keep in your projections is depending on your wife's income. If you plan on having children, it is difficult relying in 2 incomes. Your road to "retirement" is through keeping your expenses (debt) very low. You will be amazed on how you can accumulate wealth with low "over...
by goodenyou
Fri May 27, 2011 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: Sharing My I-Bond Purchase Experience
Replies: 53
Views: 7143

Re: savings bonds

That's it. He filled out the forms, which are very simple, debited my account, and we were done. But while he did so, I explained to him what I-bonds are, how they work, and why I was buying them. He thanked me for telling me about something he knew nothing about. Fantastic! Isn't it rewarding to s...
by goodenyou
Fri May 27, 2011 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance
Replies: 110
Views: 13942

I have a partner who has put $250,000 per year into a whole life policy for the past 10 years! Very stupid, but I keep my mouth shut. He believes in it for asset protection as well. Ouch! Posting a question is not necessarily a conspiracy. I don't know how much your partner needs the asset protecti...
by goodenyou
Thu May 26, 2011 9:23 pm
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance
Replies: 110
Views: 13942

Why? I find it easily believable and the stats on whole life are such that most people go into something they should not have done. We must live in different worlds. I have never known anybody to pay over $50,000 per year for life insurance premiums. I seriously doubt if any boglehead who posts her...
by goodenyou
Thu May 26, 2011 6:34 am
Forum: Investing - Help with Personal Investments
Topic: Whole Life Insurance
Replies: 110
Views: 13942

Why? I find it easily believable and the stats on whole life are such that most people go into something they should not have done. We must live in different worlds. I have never known anybody to pay over $50,000 per year for life insurance premiums. I seriously doubt if any boglehead who posts her...
by goodenyou
Thu May 26, 2011 6:18 am
Forum: Investing - Help with Personal Investments
Topic: rolling over an inherited ira
Replies: 5
Views: 918

I am doing this right now. Same situation. Wife's mother passed away few months ago. Called Vanguard. Very helpful. You will need to direct the company who has the IRA to send funds to Vanguard. Vanguard will send you (PDF) a packet to fill out to give instruction on Inherited (Beneficiary) IRA. Pre...
by goodenyou
Wed May 25, 2011 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Do you rebalance into i-Bonds or just buy $10k every year?
Replies: 2
Views: 1011

I find the I-Bonds are relatively small portion of my portfolio, so I just buy them (for each family member) electronically and forget them. It's easy and safe. At $5k per person, it really doesn't amount to much.
by goodenyou
Sun May 22, 2011 2:00 pm
Forum: Investing - Help with Personal Investments
Topic: Help with AA for 45 yo with large cash position
Replies: 6
Views: 1575

Where are the SEP-IRAs? I see 98K in SEP-IRA assets in VTI, SPY, Contra and balanced funds. Those stock heavy holdings can be exchanged for bonds funds or bond ETFs. Does your 401(k) allow in-service rollover? If this is allowed, you can rollover to a low cost IRA. Yes, I can do that since I contro...
by goodenyou
Sun May 22, 2011 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Help with AA for 45 yo with large cash position
Replies: 6
Views: 1575

On the Wiki linked from this page there is a listing of asset classes in order of tax efficiency. You want tax inefficient in tax free and tax efficient in taxable. Basically from inefficient to efficient; taxable bonds, REIT, small value, large value, large blend, international (due to the tax cre...
by goodenyou
Sat May 21, 2011 11:29 pm
Forum: Investing - Help with Personal Investments
Topic: Help with AA for 45 yo with large cash position
Replies: 6
Views: 1575

Help with AA for 45 yo with large cash position

Due to a uncertain business situation for many years, I felt a need to accumulate a lot of cash in case I needed access to it very quickly. I could not put it at risk. Things worked out well, and now I want to invest the cash and revamp my entire AA with a plan. My desire is to "flex retire" in 5 ye...
by goodenyou
Fri May 13, 2011 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA
Replies: 10
Views: 2025

Thanks for all the input. A lot of well thought-out comments. I didn't think of the disclaiming option. That seems complicated. I am leaning toward keeping the money in a tax-privileged account. Ultimately, my goal is to find a sweet spot of income in retirement that will put us into a lower tax bra...
by goodenyou
Wed May 11, 2011 8:41 am
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA
Replies: 10
Views: 2025

Inherited IRA

We (wife and I) are going to inherit a few IRAs deemed TOD after the death of wife's mother earlier this year. After trying to educate myself on the tax implications of an inherited IRA (which is uncharted waters), I am trying to decide how to approach it. Lump sum (pay all taxes now) or set up an I...
by goodenyou
Fri Apr 22, 2011 12:52 am
Forum: Investing - Help with Personal Investments
Topic: Multi million dollar inheritance where do i start
Replies: 117
Views: 17760

I'd say establish a 3% base, then take out 1-2% more if the market is doing well for nice to haves like house remodeling. If the market is down 10+% in a year, don't take out the additional 1-2% and defer getting the new Ferrari for a year. Can't say for sure, but after a few years of traveling the...
by goodenyou
Fri Apr 22, 2011 12:49 am
Forum: Investing - Help with Personal Investments
Topic: Multi million dollar inheritance where do i start
Replies: 117
Views: 17760

Get out of the "med profession" ASAP. You are a sitting duck, and the med-mal vultures will be licking their chops. Most importantly, stay healthy and enjoy your money. Getting sick/disabled is a horrible irony to success. You better have a passion or a hobby. Life is dull without one. Take it from ...
by goodenyou
Fri Apr 22, 2011 12:10 am
Forum: Investing - Help with Personal Investments
Topic: Advice for someone far overweight in cash
Replies: 35
Views: 5691

As an insurance guy here, I'm very surprised at the suggestions to purchase long term disability coverage and long term care coverage. OP, if my quick calculation is correct, you have a net worth of over $2,000,000. If you got sick/hurt today and could never work again, would you be ok financially?...
by goodenyou
Sun Apr 17, 2011 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Has Vanguard lost its way?
Replies: 53
Views: 7965

It probably is not an error. Index investing is the way to go :lol: