Search found 1161 matches

by goodenyou
Sat Jan 28, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 72
Views: 12030

Re: Anyone moved to another state for lower cost of living?

The disparity in taxes between states for a high income earner can be as powerful as the lower cost of living. Additionally, the temptation to spend more in a HCOL area to create the lifestyle that is afforded in a LCOL can be anathema to wealth building (ie belonging to a fancy country club or buy...
by goodenyou
Thu Jan 26, 2017 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 72
Views: 12030

Re: Anyone moved to another state for lower cost of living?

The disparity in taxes between states for a high income earner can be as powerful as the lower cost of living. Additionally, the temptation to spend more in a HCOL area to create the lifestyle that is afforded in a LCOL can be anathema to wealth building (ie belonging to a fancy country club or buyi...
by goodenyou
Wed Jan 25, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone moved to another state for lower cost of living?
Replies: 72
Views: 12030

Re: Anyone moved to another state for lower cost of living?

I moved to Texas 20+ years ago from Chicago. Grew up in New York (Western). I moved for geographic arbitrage. It has worked out very well. I am light years ahead of my colleagues, and I have the ability to retire very well at 50. My plan was to race to financial independence. Now, I plan to move to ...
by goodenyou
Wed Jan 25, 2017 11:23 am
Forum: Investing - Help with Personal Investments
Topic: % taxable bonds needed for rebalancing taxable equity?
Replies: 26
Views: 1898

Re: % bonds for rebalancing taxable equity rule of thumb?

If your taxable account has a fixed asset allocation (at 100% equities, for example), how are you able to have an overall asset allocation strategy in your portfolio? My taxable:tax-privileged ratio is 3:1. I would be way over exposed to equities at 100% in my taxable account.
by goodenyou
Mon Jan 23, 2017 3:03 pm
Forum: Investing - Theory, News & General
Topic: "Stealth Wealth: I’m Just an Ordinary Average Guy"
Replies: 333
Views: 67697

Re: "Stealth Wealth: I’m Just an Ordinary Average Guy"

TheTimeLord wrote:
VictoriaF wrote:Does lingerie count as stealth wealth? Or it's just a secret.

Victoria
Depends on if it highlights or conceals valuable assets.

If it's made-to-measure like Buffet's suits, then I am going into a new line of business :wink:
by goodenyou
Thu Jan 19, 2017 1:08 pm
Forum: Investing - Theory, News & General
Topic: "Stealth Wealth: I’m Just an Ordinary Average Guy"
Replies: 333
Views: 67697

Re: "Stealth Wealth: I’m Just an Ordinary Average Guy"

My wife went back to work in her late 40s after staying at home with 3 kids. She got her masters degree as a NP when we had 3 small children. Our net worth is multiples of what most would consider a lot of "retirement money". We are at 50x annual expenses and we live way below our means. Conspicuous...
by goodenyou
Tue Jan 17, 2017 5:09 pm
Forum: Investing - Theory, News & General
Topic: "Millennials may need to double how much they save for retirement"
Replies: 173
Views: 20161

Re: "Millennials may need to double how much they save for retirement"

Lots of interesting statistics, but lots of misinterpretation of those stats as well. :) Which part do you believe was misinterpreted? My original point was that student loans are a significant barrier for many Millennials. You asserted that most Millennials don't even go to college. I demonstrated...
by goodenyou
Mon Jan 16, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA for High Net Worth Parents?
Replies: 71
Views: 8541

Re: FAFSA for High Net Worth Parents?

Didn't even bother. Just wrote the check. Merit based scholarships wanted financial information as well.
by goodenyou
Fri Jan 13, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 158
Views: 22927

Re: Best Financial Moves You've Made

Waiting until I was in my 30s to get married. I avoided marrying the other soul mates that would have very likely led to financial disaster. Living below means and decision on geographic arbitrage have led to significant financial rewards. Boglehead philosophy is right up there at the top as well.
by goodenyou
Mon Jan 09, 2017 9:08 am
Forum: Personal Consumer Issues
Topic: Turned 30! Women's advice for skin care??
Replies: 60
Views: 4187

Re: Turned 30! Women's advice for skin care??

Stay out of the sun and never smoke. 2 killers of skin and behaviors that age skin very rapidly.
by goodenyou
Sun Jan 08, 2017 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 8792

Re: Doctors and retirement

How would you know? Medicine is the prototypical asymmetric information field. You have no idea if the doctor was ever any good let alone at presently In emergencies you are stuck. For anything else, there are plenty of sources of information. There are maintenance of certification requirements. On...
by goodenyou
Sat Jan 07, 2017 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 8792

Re: Doctors and retirement

I think a significant part of wanting $5-10M is being able to have $5-10M. Once that sort of thing becomes possible, one starts thinking about what he would do if he had $200-400K a year in income in retirement. I'm confident I could spend/give that sum away fairly easily. But when you're making $1...
by goodenyou
Sat Jan 07, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 8792

Re: Doctors and retirement

I have several friends who have amassed a mid to high 8-figure net worth. Nobody ever questions their consumption. They did not save any lives or ever do any surgery. They are not doctors. Why do we question how much a doctor makes, saves or doesn't save? There are fools that waste their money in ev...
by goodenyou
Thu Jan 05, 2017 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Don't Shoot. Questioning 401k
Replies: 28
Views: 3428

Re: Don't Shoot. Questioning 401k

I've been reading a lot on this forum and I get the general consensus of how conservative and retirement-focused this community is. I've used feedback from folks here to fight our bad 401k program at my previous job and made lots of great changes. As I elect to participate in my new 401k plan (no m...
by goodenyou
Tue Jan 03, 2017 2:32 pm
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 34805

Re: Whats your number to walk away?

I could walk away today, but I am still young (51) and legacy for my kids is important to my wife and me. My job is tolerable and my wife has a great job with great benefits. I don't want to retire and still have her working. I would be on the golf course everyday :D The cash burn now with college c...
by goodenyou
Tue Jan 03, 2017 10:13 am
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 34805

Re: Whats your number to walk away?

2.5M ( Walked last year) 2.8M start of new year 61/66 y/o 105K in pensions and SS Corp. retiree health insurance @ $224 / month for spouse No Debt LCOL area No kids May be a little off track, but did you ever regret not having kids? We are at 29 and 28 ourselves and we both hate kids (other people'...
by goodenyou
Tue Dec 27, 2016 8:34 am
Forum: Personal Finance (Not Investing)
Topic: I'll never save a 20% down payment. Rent for life?
Replies: 138
Views: 15977

Re: I'll never save a 20% down payment. Rent for life?

You are young. I would seriously consider looking at the possibility of getting additional training or education that would increase your income potential. You appear to be very organized and responsible. You cannot continue to drive down your standard of living as COL rises. It is not sustainable.
by goodenyou
Sun Dec 18, 2016 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Stress
Replies: 38
Views: 7056

Re: Financial Stress

After reading through this post and the responses, what I have come to realize (reaffirm) is that there are some really kind and thoughtful people on this forum. As to the OP, my advice is similar to others. Life has peaks and valleys. While we stress planning for the future, the moment is most impo...
by goodenyou
Sun Dec 18, 2016 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: How much cash do you keep?
Replies: 103
Views: 11982

Re: Retirees: How much cash do you keep?

I understand that always having a five figure sum in your checking account might feel good but other than that I don't see what the advantage is. I thought that the purpose of money was to make me feel good. It's not money that makes you feel good. It's what you can buy with the money that makes yo...
by goodenyou
Sat Dec 17, 2016 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: How much cash do you keep?
Replies: 103
Views: 11982

Re: Retirees: How much cash do you keep?

I understand that always having a five figure sum in your checking account might feel good but other than that I don't see what the advantage is. I thought that the purpose of money was to make me feel good. It's not money that makes you feel good. It's what you can buy with the money that makes yo...
by goodenyou
Thu Dec 15, 2016 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: IRA instead of disability insurance?
Replies: 13
Views: 1386

Re: IRA instead of disability insurance?

Likelihood of disability over death before age 65: Age Likelihood 30 4 to 1 35 3.5 to 1 40 2.7 to 1 45 2.1 to 1 50 1.8 to 1 55 1.5 to 1 Found this. Term life insurance is important too. Can't get disability insurance once it happens (except SSI) (same goes with life insurance). There are many sad st...
by goodenyou
Thu Dec 15, 2016 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: IRA instead of disability insurance?
Replies: 13
Views: 1386

Re: IRA instead of disability insurance?

Depends on a lot more information than you have given. Generally, no. Depends on family with children, debt and other factors. It's a risk that most here at BH would advise against.
by goodenyou
Mon Dec 12, 2016 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency surgery with out-of-network provider
Replies: 55
Views: 4969

Re: Emergency surgery with out-of-network provider

Can you imagine any other industry that would dare run such a pricing and contractual scheme in which as a consumer you are responsible to pay for services without being disclosed ahead of time the potential charges nor even their ability to tell you ahead of time what they might be? That an indust...
by goodenyou
Mon Dec 12, 2016 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Just too conservative for my own good
Replies: 30
Views: 5176

Re: Just too conservative for my own good

There is a saying in medicine, especially in surgery, "the enemy of good is perfect ". It applies to many aspects of life including investing.
by goodenyou
Sun Dec 11, 2016 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency surgery with out-of-network provider
Replies: 55
Views: 4969

Re: Emergency surgery with out-of-network provider

It is amazing. What I find incredibly amazing is why haven't doctors wages haven't been forced down and why medical services are more and more expensive. After all, now that technology continues to improve, computers are doing the diagnosis (I saw on 60 Minutes doctors are using IBM's Watson for co...
by goodenyou
Sun Dec 11, 2016 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency surgery with out-of-network provider
Replies: 55
Views: 4969

Re: Emergency surgery with out-of-network provider

It is amazing. What I find incredibly amazing is why haven't doctors wages haven't been forced down and why medical services are more and more expensive. After all, now that technology continues to improve, computers are doing the diagnosis (I saw on 60 Minutes doctors are using IBM's Watson for co...
by goodenyou
Sun Dec 11, 2016 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency surgery with out-of-network provider
Replies: 55
Views: 4969

Re: Emergency surgery with out-of-network provider

Getting those pennies on the dollar is too expensive. Do you know how much it costs to get paid by insurance? It often costs more to get paid than the amount they pay. And they know this. Most know-it-alls here on BH think we just send a bill to insurance and they pay it. For a $50 claim, I have to...
by goodenyou
Sun Dec 11, 2016 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Emergency surgery with out-of-network provider
Replies: 55
Views: 4969

Re: Emergency surgery with out-of-network provider

There is legislation in the works that attempts to compel providers to accept in-network fees for emergencies. This situation is the very reason that surgeons do not want to be on-call. It is also driving physician employment by hospitals and health systems. You may be able to negotiate a lower fee...
by goodenyou
Sun Dec 11, 2016 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Emergency surgery with out-of-network provider
Replies: 55
Views: 4969

Re: Emergency surgery with out-of-network provider

There is legislation in the works that attempts to compel providers to accept in-network fees for emergencies. This situation is the very reason that surgeons do not want to be on-call. It is also driving physician employment by hospitals and health systems. You may be able to negotiate a lower fee ...
by goodenyou
Sat Dec 10, 2016 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should you retire early or keep working?
Replies: 28
Views: 4513

Re: Should you retire early or keep working?

If you had "enough" to retire early, and you made a significant amount of money by doing work that you considered "easy", would you continue working? For example, let's say you made $200,000/year working part-time (20 hours a week), would you still work?
by goodenyou
Thu Dec 08, 2016 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement: Where $200K Will Last 30 Years
Replies: 113
Views: 21965

Re: Retirement: Where $200K Will Last 30 Years

One could move to southern Texas and probably live cheaper than in Central America. True. I know people who do not identify as retired, but they just never got their motor running. It's stunning how cheap you can live without ambition. Some have moved to southern Texas and have done very very well....
by goodenyou
Wed Dec 07, 2016 3:45 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement with $8M in investments
Replies: 166
Views: 25052

Re: Retirement with $8M in investments

Comparing to others is never a good strategy. Unless, of course, it is comparing to people who have less. That is rarely done. Feeling you have enough is knowing what your goals are. If you want to move into an $8 million dollar house, have a private jet and travel around the world, you may not have...
by goodenyou
Tue Dec 06, 2016 10:09 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 6550
Views: 1404096

Re: U.S. stocks in freefall

"I think the market will fluctuate."
by goodenyou
Sun Dec 04, 2016 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Back to Med School - Financially Worth It?
Replies: 87
Views: 13260

Re: Back to Med School - Financially Worth It?

Give us an update 5 years out of residency. Best of luck
by goodenyou
Wed Nov 23, 2016 9:33 am
Forum: Personal Finance (Not Investing)
Topic: From no state-tax to state-tax
Replies: 26
Views: 3589

Re: From no state-tax to state-tax

I would say you escaped the high property taxes of Texas, but NJ is as bad, if not worse. I almost moved back to NY from Texas, and the mayor of my town half-heartedly said to me "people move from NY to Texas, not the other way around". I don't think there are a whole lot of creative things you can ...
by goodenyou
Tue Nov 22, 2016 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: I just fired my son - trying to teach about hard work and money
Replies: 37
Views: 5034

Re: I just fired my son - trying to teach about hard work and money

Maybe your 7 year old can start an early retirement thread here. Those threads are very popular.
by goodenyou
Tue Nov 22, 2016 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Double Check Figures: Affording $1M Home
Replies: 81
Views: 8420

Re: Double Check Figures: Affording $1M Home

In response to your question if you can afford it I'll throw one back... What is your plan if you get fired tomorrow? Unless you are a doctor, federal worker, or tenured teacher there is NO safety in your job. Many folks learned this the hard way in 2008. So if you have a good answer to deal with t...
by goodenyou
Mon Nov 21, 2016 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Double Check Figures: Affording $1M Home
Replies: 81
Views: 8420

Re: Double Check Figures: Affording $1M Home

I would buy a house AFTER I "started a family" and I had secured a single income capable of affording the home. You think it is stressful to pay bills without kids? Wait until you have a one or two more mouths to feed on top of more bills. Until then, I would save like crazy.
by goodenyou
Sat Nov 19, 2016 6:32 pm
Forum: Investing - Theory, News & General
Topic: How a friend legally front-ran the market and made millions
Replies: 29
Views: 5859

Re: How a friend legally front-ran the market and made millions

Long term capital management was a company that had a great investing stragey designed but some nobel prize winners that worked great, until it didn't. Be very careful. https://en.wikipedia.org/wiki/Long-Term_Capital_Management Man, is this the investing equivalent of Godwin's law? LTCM, its struct...
by goodenyou
Sat Nov 12, 2016 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Wealthy aunt is willing to allow me borrow $$ for medical school. How to best approach this?
Replies: 70
Views: 9696

Re: Wealthy aunt is willing to allow me borrow $$ for medical school. How to best approach this?

My parents offered to pay for my wife's medical school. Instead we told them, "No, thank you," and took out loans ourselves. At some point it started to seem ridiculous not to take them up on the offer, plus they kept asking. We eventually took the tuition money from them. We ended up with only 1/4...
by goodenyou
Sat Nov 12, 2016 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Go part time number
Replies: 73
Views: 11615

Re: Go part time number

Depends on what kind of physician you are. Not all specialties and employment types are amenable to part time. You could possibly do locums if your family or personal life can accommodate it. If you are a solo practitioner or even in a group practice, you are the last to eat from the buffet. The fir...
by goodenyou
Sat Nov 12, 2016 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Wealthy aunt is willing to allow me borrow $$ for medical school. How to best approach this?
Replies: 70
Views: 9696

Re: Wealthy aunt is willing to allow me borrow $$ for medical school. How to best approach this?

I have never wanted to be indebted to anyone for any "favors". I like to be self-sufficient where possible. You can borrow the money. The extra interest is worth it.
by goodenyou
Fri Nov 11, 2016 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: How to retire early (in your 30s or 40s)?
Replies: 173
Views: 27647

Re: How to retire early (in your 30s or 40s)?

HomerJ wrote:
goodenyou wrote:
livesoft wrote:The fix is the same as it has always been: Import talent from foreign countries.

They like to retire early too.
That's okay. More babies are born every day who can grow up to be doctors.
It only takes 40-50 years from the time they are born. They will desire to retire early too.
by goodenyou
Thu Nov 10, 2016 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: "No Referral Needed" Medicare speak
Replies: 32
Views: 2568

Re: "No Referral Needed" Medicare speak

Is there any other reason for MA referral requirements other than the plan thinks they are going to deny a useful percentage of specialist visits to warrant the inconvenience and expense to the providers, members, and the plan itself? With an average specialist co pay of $40, you would think that p...
by goodenyou
Thu Nov 10, 2016 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: "No Referral Needed" Medicare speak
Replies: 32
Views: 2568

Re: "No Referral Needed" Medicare speak

A referral allows the specialist to bill for a "Consultation" code (CPT 99241-99245) which gives higher reimbursement than other E/M codes. At least that's how it was when I played the insurance games. Nope. Medicare abolished 9924x codes a few years ago to save money by paying specialists less. An...
by goodenyou
Thu Nov 10, 2016 10:18 am
Forum: Personal Finance (Not Investing)
Topic: How to retire early (in your 30s or 40s)?
Replies: 173
Views: 27647

Re: How to retire early (in your 30s or 40s)?

livesoft wrote:The fix is the same as it has always been: Import talent from foreign countries.

They like to retire early too.
by goodenyou
Thu Nov 10, 2016 10:06 am
Forum: Personal Finance (Not Investing)
Topic: How to retire early (in your 30s or 40s)?
Replies: 173
Views: 27647

Re: How to retire early (in your 30s or 40s)?

... One of the very important issues surrounding early retirement (RE) for physicians is the devastating loss to society of medical acumen and judgement that is gained after years of practice. I am not insinuating that you (or I, for that matter) have a societal obligation to continuing to practice...
by goodenyou
Wed Nov 09, 2016 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to retire early (in your 30s or 40s)?
Replies: 173
Views: 27647

Re: How to retire early (in your 30s or 40s)?

Don't mean to sidetrack the thread, but just curious those who will be retiring in 30's and 40's plan to do for the next 40-50 yrs. of their lives? I'm trying to figure out if these folks have a plan already or just going to wing it after retirement. Someone on a different thread had a great piece ...
by goodenyou
Mon Nov 07, 2016 12:30 am
Forum: Personal Finance (Not Investing)
Topic: How to retire early (in your 30s or 40s)?
Replies: 173
Views: 27647

Re: How to retire early (in your 30s or 40s)?

This was helpful to me, categorizing the MDs that retire in their 30s, 40s, 50s, 60s. http://www.physicianonfire.com/physicians-retire-early/ A close friend of mine retired at 37 - they fit the "Frugal Wanderlust" category. I'm shooting for "The Prudent" and going to 3 days/week at 50 years old. Th...