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ks289

The flip side is that you don't get into an Ivy League school because your parents are movers and shakers. You get into an Ivy League school if you have superior talents: academic, creative, athletic, artistic. Citation most definitely needed. Unless you count being born into the right family a sup...

ks289

I have a family member who recently graduated from an ivy. His comment is the opposite of this. That getting in is way harder than staying in. And that there are a lot of “not brilliant/very average” students there (legacies, athletes) who will graduate with at least average grades as long as they ...

ks289

Folks, Please adjust my numbers accordingly dependent on your own circumstances. 1) Do not assume that you will be fully-employed continuously until retirement age. Make a reasonable assumption and save a fixed percentage of your gross income. I have no job security. I save 30+%. You should decide ...

ks289

KF, It is unfortunate when students are not able to succeed in completing their undergraduate program from multiple standpoints (not just financial and emotional). While the adult student is ultimately responsible for completing their degree, many college age individuals are not yet at their full c...

ks289

We donate to each of our undergraduate schools and my spouse's private high school. Initially, we donated because of positive and rewarding experiences attending these institutions, but recently it has been done also to optimize legacy admission for our children. No idea if it will result in the des...

ks289

I never said that there was one “type” at Yale. Coming back to my Brown and Columbia example, how many kids do you know that would fit well into both? You did say that H and Y "attract different types," but it's possible I read too much into that. My point is that, because there is such a...

ks289

There are non-randomized studies (surveys) out there showing that a majority of college students work part time, and that working less an 20 hours a week is associated with a higher GPA than not working at all. On the other hand, working more than 20 hours was associated with lower GPA and graduatio...

ks289

I think the stressing the importance of education by parents plays a bigger role than private vs. public. However, when our Catholic private school students enter the public school system in grade 6, all of them are about half a year advanced compared to their public school peers and probably aroun...

ks289

One of our children attended public school for elementary school and although it is highly rated, it was not a good fit. The personality and strengths/weaknesses of our child fit better with a small private school for gifted children that had a great deal more flexibility in catering to individual n...

ks289

I might have missed it but one thing I have not seen mentioned is that it sounds like your wife will be driving the car 95% of the time. Reading between the lines I would suspect that the desire for the more expensive car is more yours than hers. If she is won't get a lot of "warm and fuzzies&...

ks289

It seems you are focusing on only cost, transportation, and diversity. But there are other considerations too: your family could have more than one child (ie, multiple tuitions in private schools), neighborhood crime/parks/cleanliness/activities, job locations (depending on what you plan to do in t...

ks289

Tar Heel Definitely do the math between VT and NH. My math tells me Norwich only compares positively to Hanover. Other surrounding towns (NH & VT) have better cost ratios. Definitely look at school ratings closely though or else you could end up with private school in your future ($$$). Also th...

ks289

Some more details if people are interested. Starting salary 12 years ago was quite a bit lower than it is now probably 120 less. Student loans were about 100 each. Loans were at low interest rate, paid off about 5 yrs ago. House paid off about 3 yrs ago. Majority of money in indexes but do own sign...

ks289

You shoudlnt look at compensation. Instead, it is compensation by hours worked. I know two MDs. One works 12-14 hour days, 6 days a week, 365 days a year, and rarely takes vacation. he makes 2x as much as another MD in the same field, who works half as hard. So ultimately, they make the same. Inter...

ks289

Congratulations on you son's acceptances. I echo the other posters that full tuition to Vandy is a great deal for a very competitive university with a wide range of opportunities. That's what I would probably choose having visited most of those schools (20 or so years ago). My wife had a similar dec...

ks289

I totally understand the appeal of the Bay Area. Many of my college and medical school friends who are physicians have settled there. However, a fair number of them are in specialties with higher incomes (plastic surgery, urology, radiology, etc), and most have not purchased homes in the most expens...

ks289

529 sounds reasonable.
Another option which is almost as flexible as parents' taxable account but which would save on taxes would be gifts to UTMA account. No taxes on unearned income up to $1050.

ks289

Good luck in your new job. I think this is a tough decision, because your budget is a little tight not only from your mortgage, but also daycare and student loan expenses. If you hit your savings target of maxing all of your tax deferred accounts plus $3-4K per month, you'll be ok if you remain empl...

ks289

Are you still 80:20 stocks:bonds? If you are uncomfortable losing perhaps 40% of your money in the upcoming crash, then it may be reasonable to rethink your asset allocation and risk tolerance moving forward. It is MUCH better to decide on this now versus at the market bottom. As long as you are not...

ks289

Don't know other fields of life, but can say medicine and their jobs do NOT pay according to cost of living and actually is INVERSE. They pay based on simple supply/ demand economics. Good luck. Indeed. It's called geographic arbitrage , and I'm taking full advantage. It helps a lot that I grew up ...

ks289

I'll say the same thing here (even as a fellow doc) that i have said on other threads and that is I just don't get some of the posters goals. How many folks who have worked their backends off to accumulate 5-10+ million will just be able to throw in the towel and spend lavishly when they have never...

ks289

It's possible but unless saving money is the primary concern, why not just take some additional courses in school or carry a lighter course load when taking more advanced and difficult classes? There is no real advantage to rushing through college when you can enjoy it. Well, if you take away the &...

ks289

"Moreover, there is a distinction between the weight given to legacies of alumni donors vs. non-donors. Many schools consider only undergraduate attendance for legacy status with some exceptions (Columbia for example)." I don't know of any convincing data that donors vs non-donors matters...

ks289

"Now, if you're a single- or double-legacy, talk away because your odds just went up five- or ten-fold -- but for that one school." I just want to say that I think this is overstated. Legacy carries little weight imo... perhaps if every factor was identical, a slight nod might go to the l...

ks289

I don't have crazy cars, I don't have crazy houses ( they are on the bigger side because we need 8 bedrooms but they are older with plastic inserts for many shower stalls, etc). Nothing overly extravagant. The vacation house in FL we love is an old rancher (updated a bit but nothing gold plated or ...

ks289

His info session at Harvard lasted a few minutes before he texted his mother, sitting next to him, "could they be any more pretentious?" Since then, at The Game, he reports that many H students are miserable and regret their decision because of the social life. Interesting. I know many mi...

ks289

I remember your prior post when you were considering buying in to this practice. https://www.bogleheads.org/forum/viewtopic.php?f=2&t=194979&p=2987968#p2987968 I think you were concerned about alienating the administration and partners by seeking financial and structural details. Unfortunate...

ks289

Excellent suggestions so far. However, as mouses mentioned, seeking warmer weather carries some uncertainty given the possibility that future climate patterns may not resemble those of the past. Areas you mentioned may be more vulnerable to prolonged drought, summer heat, hurricanes, rising sea leve...

ks289

Literally, I treat the PITI payment as rent. KlangFool well, that is a very aberrant position. The P is not rent. It is transferred savings. It may have a positive or negative return, but over time the return has been between 0-1% real, speaking very broadly. The ITI are costs, as is maintenance. T...

ks289

Literally, I treat the PITI payment as rent. KlangFool well, that is a very aberrant position. The P is not rent. It is transferred savings. It may have a positive or negative return, but over time the return has been between 0-1% real, speaking very broadly. The ITI are costs, as is maintenance. T...

ks289

<snip> and planned on getting around 4% real long-term on the stock side to figure out how much I need to save. Why? How did you come up with 4% real for your plan? Planning for a low number leaves a lot of upside, which I've been lucky to experience. Why do you think 4% real is a low number? Kevin...

ks289

I agree with many of the other posters here. This offer ($1.75M PER Partner) is massive. Not only will it take years to "break even" staying in private practice, but you are at risk for the value of your practice declining. Even worse, if your practice is truly worth this much and your pa...

ks289

I agree with many of the other posters here. This offer ($1.75M PER Partner) is massive. Not only will it take years to "break even" staying in private practice, but you are at risk for the value of your practice declining. Even worse, if your practice is truly worth this much and your par...

ks289

I'm an attorney and where you went to law school never stops mattering. I also won't go to a doctor whose medical school isn't a name I recognize. I went to a name law school, and I've worked at places were almost everyone else did as well. My clerkship came out of an internship I got with an alum....

ks289

Well, I admit 500K annual income is a lot,and you can call me I am a super rich (Yay! but I still feel, I am not, yet.). But no one guarantee that level of income will last forever, we have higher level of stress and we need to prepare for the worst. Then this makes the choice very easy. Go public....

ks289

ks289, I am asking specifically what if this happened to you every day for 4 years? Have you ever experienced anything close to this? Now, what would this do to you as a person? << I think pretty much everyone in the world has felt like they won't be able to complete a difficult task or keep up wit...

ks289

Hector, << the fact is on an average a person who went to top college would do better than others. >> Given that only the top 33% of the student class do well and benefited from the experience, the correct answer should be on the average, a person that goes to top college does not do better. So,the...

ks289

Hector, << the fact is on an average a person who went to top college would do better than others. >> Given that only the top 33% of the student class do well and benefited from the experience, the correct answer should be on the average, a person that goes to top college does not do better. So,the...

ks289

I think priority and affordability matters. Lots of parents want to put their kids in best possible situation. Top colleges are likely to help kids more than other colleges. Families who can afford are likely to put their kids to top colleges. Most kids do not go to top colleges because most kids d...

ks289

Intelligence and ambition are the 99%. The university attended is the 1% (if anything). A good college may polish a turd, but a good student will be equally successful wherever he goes. I agree with this. I think Harvard (etc.) takes way too much credit for their students' success. They only accept...

ks289

I think it matters if they are in a Nationally recognized school, like the ones you mentioned - Ivy League, Notre Dame, Stanford, Duke, Georgetown, CalTech, etc. These schools will stand out on a resume, and will have a large impact on their future success. Once you're out of the top of the top tie...

ks289

Look, it's good that you are fine paying 3% interest to a bank, while your investments are making 6%. But nothing is guaranteed in life, and that may not happen going forward. It probably will, but it isn't guaranteed. And if you have any money at all in bonds, that's money that's doing nothing, si...

ks289

I appreciate the risk aspect of debt, but I also value the potential financial benefits of leverage (namely mortgage and student loan debt). My family has benefitted greatly from taking more risk by not paying off debt aggressively to this point. No guarantees for the future of course. Not paying of...

ks289

If you are going for an office visit for evaluation for (?abdominal) pain, then this is billed as a consultation or new patient office visit for the pain. A pre colonoscopy office visit cannot typically be included under screening, which is why many colonoscopies are booked directly without an offic...

ks289

It is likely challenging for most recent retirees (particularly after 7 years of rising equities) to know whether working a year or two more will become important or not from a pure financial standpoint. Firecalc is probably the best tool to prospectively estimate success rates (in a few decades) ba...

ks289

As other posters mentioned, this is the calculator mentioned in the Millionare Next Door book for average accumulator of wealth (in the middle two quantiles). If you want to be a prodigious accumulator of wealth (top quartile) you need to divide by 5 instead of 10. All of the limits to such a simple...

ks289

With $6MM in investments, she could buy the house with cash and still have enough to immediately retire. Seems like the easiest question to answer I've seen on BH ever. If you pay cash leaving $4.5M in investments you will probably not want to retire immediately. Expenses were previously $150,000 a...

ks289

Max out 2016 401k before leaving current job. If waiting 1 year max out 2017 401k in the latter half of 2017. If waiting 2 years you'll need to use the other options for 2017. Is it true that after your income surpassed $260,000 you can no longer contribute to 401k, regardless of whether or not you...

ks289

Max out 2016 401k before leaving current job.
If waiting 1 year max out 2017 401k in the latter half of 2017.

If waiting 2 years you'll need to use the other options for 2017.

ks289

1. The attorney will be better positioned to give you specific advice after reviewing the partnership agreement. Your specific circumstances are likely completely different from many of the docs on this forum including my single specialty group. A healthcare attorney will have seen way more of these...

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