Search found 392 matches

by RobInCT
Sun Jun 01, 2014 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-nup at only $1M networth, do I need it?
Replies: 199
Views: 19795

Re: Pre-nup at only $1M networth, do I need it?

I think this is a relationship question and not a finance question. I make considerably more than my long-term girlfriend. We're both single, never been married, no kids (yet). If we ever decide to marry, I would not ask for a pre-nup. The only situation in which I would consider a pre-nup is one in which one of us had been previously married and/or had children from a prior relationship.

This has everything to do with my feelings about marriage and nothing to do with my feelings about financial planning. Other people may have different feelings about marriage and may choose differently for themselves. There is no right answer here.
by RobInCT
Sat May 31, 2014 8:19 pm
Forum: Personal Consumer Issues
Topic: Budget for charitable giving
Replies: 39
Views: 4004

Re: Budget for charitable giving

I agree with starting with issues that are important to you or with which you have a personal connection. For example, I live in a city with a significant homelessness problem, and I feel bad about never giving money to people asking for it in the street, so I donate to a local charity that helps homeless people. My partner is a first-generation American with a graduate degree, and she gives to a charity from her parents' country of origin that supports primary and secondary education for girls who can't afford school fees since in her parents' country of origin, school isn't free, and families with limited resources will often only pay for male children to go to school. Now that student loans are paid off and we're relatively well-establis...
by RobInCT
Sat May 10, 2014 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Cash Advance on a credit card
Replies: 21
Views: 2318

Re: Cash Advance on a credit card

Cash advances almost always come with withdrawal fees, do not earn rewards, and start accruing interest immediately. Walk into the bank, fill out a withdrawal slip and hand it to the teller. Unless your bank charges you to go inside, I see no reason to make 5 ATM withdrawals over a 5 day period.
by RobInCT
Sat May 10, 2014 1:41 pm
Forum: Personal Consumer Issues
Topic: Are Tornado Shelters Worth the Cost?
Replies: 52
Views: 7947

Re: Are Tornado Shelters Worth the Cost?

Are you friendly with your next-door neighbors? Maybe you could buy one big enough for both families and share the cost. Give both families keys.
by RobInCT
Sat May 10, 2014 1:35 pm
Forum: Personal Consumer Issues
Topic: Anyway around apartment lease rip off?
Replies: 30
Views: 2972

Re: Anyway around apartment lease rip off?

The student needs to check the rental laws in his area. In some areas, the landlord has a duty to mitigate (i.e. try to find someone to take the apartment for the month the student is currently responsible for it) and can only charge the renter for actual damages (i.e. the amount of time the apartment is vacant during the month that the student is responsible for). If this apartment is at all in any type of an urban area, the student's best bet may be to try to find a replacement tenant. In some areas, the landlord would be required to accept a suitable replacement tenant and let the student off the hook. And even if the apartment is not in a city where the landlord has to accept a suitable replacement, the landlord may well be willing to j...
by RobInCT
Wed May 07, 2014 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Should I be worried about my girlfriend's debt?
Replies: 57
Views: 8358

Re: Should I be worried about my girlfriend's debt?

To me it sounds like OP is trying to have it both ways. On one hand he wants to insist he has no responsibility for any of his girlfriend's debt until they get married (perfectly okay), but on the other hand he seems to feel like he has a right to dictate/manage how she deals with the debt he disclaims all responsibility for (not okay). OP, I think it's good and important to have conversations with the woman you are considering marrying about how she feels about money, debt, and savings and also about your joint plans for securing a secure financial future together. If you were telling us you were considering marrying her without having these conversations, I would be telling you you were making a huge mistake. But when you start saying thi...
by RobInCT
Sat Apr 05, 2014 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Family Refinance of a Student Loan
Replies: 4
Views: 781

Re: Family Refinance of a Student Loan

Nevermind, missed that it was your parents and not hers.
by RobInCT
Sat Apr 05, 2014 9:04 am
Forum: Personal Finance (Not Investing)
Topic: I accidentally discovered a coworkers salary... now what?
Replies: 59
Views: 12091

Re: I accidentally discovered a coworkers salary... now what

If you only saw her W-2, you don't know that she makes more than you do. You know, at best, that in 2013 she received more money from the company that the federal government classified as "wages, tips, and other comp" than you did. For all you know, she got a 20-year longevity bonus, worked overtime, won a prize, received a non-cash benefit not excludable from total income, or a dozen other things.

I don't think a glance at someone's W-2 that lasted only long enough for you to realize you were looking at something you shouldn't be--at which point I'm sure you immediately closed the document--provides you with enough information to determine you're being treated unfairly.
by RobInCT
Thu Mar 27, 2014 8:20 am
Forum: Personal Consumer Issues
Topic: Ancestry Tests
Replies: 19
Views: 3190

Re: Ancestry Tests

I looked into doing one of these and decided not to once I read the research behind it and realized that they had significant limitations and were unable to return results at a level of confidence that I was willing to pay for.
by RobInCT
Wed Mar 26, 2014 7:32 am
Forum: Personal Investments
Topic: how do student loans work?
Replies: 9
Views: 1649

Re: how do student loans work?

Eleven years elapsed between when I started college and when I finished my professional degree. During that time period alone, there were no fewer than three substantial revisions to the federal student loan program that affected whether student loans were a "good deal" or not. I finished all school 5 years ago, and there have been at least two more substantial revisions since then. Upon completion of my professional degree, I had federal student loans with interest rates that ranged from .85% to 8.5%. I had private loans that ranged from 1.25% to 10.25%. It depended on the era during which they were acquired. Do not make plans for your 1 year-old based on whether student loans are a good deal now. Whatever the rules are now, they...
by RobInCT
Sat Jan 18, 2014 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: student loan interest
Replies: 19
Views: 2049

Re: student loan interest

My source was not just some random internet site, but FedLoan Servicing, a Department of Education servicer. This specific thread appears to be moot since OP found the answer to his question, but for the benefit of anyone reading this thread in the future, I wanted to make clear that the terms of payment are set forth in the promissory note, which is signed with a lender and NOT with a servicer. My servicer changed 3 times while I has holding my loans, and each servicer had a different way of doing things--none of them had the ability to override was was in the original loan agreement, to which they were not a party. The loan servicer simply administers payment and collection on behalf of the holder of the note and cannot alter the terms o...
by RobInCT
Sat Jan 18, 2014 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: student loan interest
Replies: 19
Views: 2049

Re: student loan interest

Correct. Non-capitalized interest is not compounded. So loan companies are basically making additional money by applying payments first to the portion of of the debt that is not accruing interest instead of to the portion that is. And most people never notice. What is confusing about this? We always apply additional payments to any interest that has accrued to date and then to your principal balance. Whether the interest that has accrued is itself accruing additional debt is irrelevant. I am still waiting for anyone else to quote from their actual loan docs. Maybe you meant to say most people never read. What do you mean "anyone else?" You just said you didn't have loans. So you haven't quoted from yours, either. In fact, what yo...
by RobInCT
Sat Jan 18, 2014 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: First Speeding Ticket: What Would You Do?
Replies: 72
Views: 9370

Re: First Speeding Ticket: What Would You Do?

Seriously, don't hire a lawyer, show up in court, if the cop shows up, plead no contest. If he doesn't, you lucked out and get off. Before you go to court, make sure the ticket was filled out correctly--date, time, location, officer's name, etc. If it wasn't, even if the cop shows up you can point out the technical error on the ticket and it may be dismissed that way. You don't have to be or pay a lawyer to do this.
by RobInCT
Sat Jan 18, 2014 9:01 am
Forum: Personal Finance (Not Investing)
Topic: student loan interest
Replies: 19
Views: 2049

Re: student loan interest

mnvalue wrote:RobInCT: Can you comment on why it would matter where the loan company applies the payment? Is it because non-capitalized interest is not being compounded? Otherwise, it seems like it hardly matters; the borrower has to pay back both the accrued interest and the principal anyway.
Correct. Non-capitalized interest is not compounded. So loan companies are basically making additional money by applying payments first to the portion of of the debt that is not accruing interest instead of to the portion that is. And most people never notice.
by RobInCT
Fri Jan 17, 2014 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: student loan interest
Replies: 19
Views: 2049

Re: student loan interest

More information is required, but my guess is that they were applying extra payments to interest instead of to principal. If you had non-capitalized interest that had built up over a number of years (for example if the loans were in deferment for a period of years, or because you weren't making payments for a while for some other reason) and if you have 6-figure loan balances, this would not be an unreasonable amount of interest to have built up. Student loan companies are notorious for pulling this trick if you don't double-check with every payment to make sure your extra payments were applied to the principal rather than to past-accrued interest.
by RobInCT
Thu Jan 16, 2014 12:50 pm
Forum: Personal Investments
Topic: I Retire Next Year and am 100% Stocks
Replies: 20
Views: 2582

Re: I Retire Next Year and am 100% Stocks

But I also don't want to get left behind if I am a nervous Nellie.
Get left behind how? Either you have enough to retire on (given expected return rates) or you don't. If yes, why are you still gambling? Sure, we'd all like more. But do you really need more? If you do, maybe you should reconsider retirement. If you don't, then what's the issue?
by RobInCT
Thu Jan 16, 2014 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Seeking Advice/Direction: Kids Allowence, Paying for Chores
Replies: 29
Views: 2373

Re: Seeking Advice/Direction: Kids Allowence, Paying for Cho

From a cognitive science perspective, 4 and 6 seems really young. The 4 year old might not even reliably be able to do arithmetic. Kids do need to learn about money, saving, what things cost, etc. Not sure I think they need to--or can--learn it before kindergarten. Put another way, if your kid isn't old enough to independently figure out that if he now has $2, and can buy 2 packs of gum, but if he waits a week and saves 1 more dollar he can buy a 5 pack of the same exact gum and that is therefore better, then I'm not sure he's old enough to learn a real lesson from his allowance. Why not start small? "We're going shopping today. If everyone behaves appropriately, you'll get $5 at the last store we go to to buy anything you want." ...
by RobInCT
Thu Jan 16, 2014 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Pros/cons of home funding approach?
Replies: 8
Views: 832

Re: Pros/cons of home funding approach?

Once you're married and she out-earns you, are you going to stay home if you can't afford "your half" of the yearly vacation? What happens if you can't afford "your half" of your kids' college education?
by RobInCT
Thu Jan 16, 2014 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Reached first savings milestone: 1x salary
Replies: 29
Views: 4313

Re: Reached first savings milestone: 1x salary

I will say, though, that many/most of the "glide slopes" that are out there aren't really that great from a typical Boglehead perspective...they just don't go far enough. They tend to use figures aimed at providing 70%-80% of income starting at age 65-70. I think an early and/or comfortably wealthy retirement is appealing to many of us here, so it takes alot more to reach those more demanding goals. That's interesting. One could also make the opposite argument. A disproportionately high number of Bogleheads users have graduate degrees, and extended pursuit of education can delay savings goals (with greater expected payoff down the road). For those people, "glide slopes" often go too far. At 30, my net worth was negative...
by RobInCT
Tue Jan 14, 2014 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Paying for College while Retired -- FAFSA Strategies
Replies: 50
Views: 5573

Re: Paying for College while Retired -- FAFSA Strategies

ThatGuy wrote:
Draak wrote:Strategies:
Convince your kids to get married before attending college, then they are considered independent.
Put all your money into an annuity, poof asset is gone :D
Have your child have a child & then they are considered independent
If you still have a mortgage, you could pay it off & voila the money is hidden.
You can have another family member hold your assets during college years, poof asset is really gone!!
None of that is really a pleasant way to go
You forgot "join the armed forces". A veteran is considered an independent.
His child could also become legally emancipated, homeless, or an orphan, or could wait until s/he was 24 to attend college.
by RobInCT
Tue Jan 14, 2014 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Paying for College while Retired -- FAFSA Strategies
Replies: 50
Views: 5573

Re: Paying for College while Retired -- FAFSA Strategies

Moral: If you're an achiever and responsibly accumulate assets for a semblance of financial security, you (and by default - your kids) will be penalized. If you're a slacker, squander your earnings and do not save anything, you will qualify for all sorts of aid. Of course, you can save it all in IRA's, annuities and 401K's, but then you can't retire early, even if you use a 72T, and expect much financial aid. I think you mean if you spend a lot and never save that your children, no you, will qualify for all sorts of financial aid. Financial aid takes into account parents' assets and income, but it's aid for the children, not the parents. My parents paid were diligent savers who put me and my sister through college by paying out-of-pocket. ...
by RobInCT
Sat Jan 11, 2014 1:30 pm
Forum: Personal Consumer Issues
Topic: How much should a good dentist make yearly?
Replies: 79
Views: 22115

Re: How much should a good dentist make yearly?

I don't understand why you're angry with your wife for not earning more than you do. It seems like you're fixating on her earnings when the problem (if there is one) is spending and not earning. You guys make plenty of money. I recommend you try to figure out the actual problem and come up with actual solutions for it, rather than just ranting about how your wife is lazy/complacent/unmotivated for working more hours than you work and making approximately the same salary you make. Because here's another news flash--if there is really a spending problem, more earnings aren't going to solve it. If you and your wife made minimum wage, I'd agree that more income might ease the situation a bit. But you're way, way beyond that point. If your famil...
by RobInCT
Tue Jan 07, 2014 1:04 pm
Forum: Personal Consumer Issues
Topic: Dating, Gender, & Wealth Differences...
Replies: 102
Views: 9333

Re: Dating, Gender, & Wealth Differences...

A lot of those women, high income or not, are looking for someone with stacks of cash. NYC is an expensive place to live. About a decade ago I started dating again. I tried to put my first foot forward and hide my business success. Just stated I worked for so and so (just not the owner) and was in IT sales. For quite a few years it got me little to no where. I then withdrew that profile and setup a new one. Same pictures, info, etc. EXCEPT I was head of the well known IT firm in NY. On both I left my income range out. I had more dates than I can handle. Since I wasn't the type of guy who plays the field, it was tough. I then, a few months later, change the profile back to the same "IT sales guy", not business owner. Same issues. ...
by RobInCT
Tue Jan 07, 2014 5:24 am
Forum: Personal Finance (Not Investing)
Topic: Auto Loan and Credit Card Balances
Replies: 6
Views: 817

Re: Auto Loan and Credit Card Balances

Stoney178 wrote:well theres no rush to pay it off since im not loosing anything. In October i just pay it off - and $35 a month adds up :)
$35 total, not $35/month.
by RobInCT
Tue Jan 07, 2014 5:22 am
Forum: Personal Consumer Issues
Topic: Dating, Gender, & Wealth Differences...
Replies: 102
Views: 9333

Re: Dating, Gender, & Wealth Differences...

Hi all. I am a male, mid 40's, living in the NYC area and on the dating scene. Needless to say many of the women I come across are (on paper at least) seemingly much more financially heeled than I. For example they work as lawyers, corporate, finance, etc. and many often own homes in NYC, typically condos. While I am not a pauper (I'm a university professor and a renter) I'm not in that league. I realize the times we live in are such that women very commonly out earn men, but I struggle with the idea that this won't be a problem (I'm a recovering hopeless romantic). I'll add that these women reach out to me (I'm on a dating website) but in the past I have ruled myself out for these reasons. My sister is one of these women. Who is she suppo...
by RobInCT
Thu Jan 02, 2014 6:37 am
Forum: Personal Investments
Topic: Retirement and my new car
Replies: 37
Views: 4038

Re: Retirement and my new car

StarbuxInvestor wrote:I don't know if I will end up doing this or not but I plan to work until I hit my goal then work additional months after that to buy a very nice new car for cash as my retirement present and to eliminate the need for that outlay for another approximately 8 years. Just don't want to start retirement with any significant purchases looming. Does this make sense as a way to approach that kind of post retirement outlay.
I see nothing wrong with this if you personally feel the new car is worth more than your additional months' labor. It's not entirely a rational way of viewing money, so lots of Bogleheads will be opposed, but it's not a dangerous or self-destructively irrational way of viewing money, so I don't see the harm. Enjoy the new car!
by RobInCT
Wed Jan 01, 2014 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Withdraw from IRA before starting SS?
Replies: 14
Views: 1505

Re: Withdraw from IRA before starting SS?

As long as you don't have any earned income and not relying on SS to meet your needs I would draw on SS as soon as you can. The main reason? There is no way that the government will keep the rules as is! So get as much money out and as early as you can. In an effort to avoid getting this thread locked, I will observe that the statement above is merely one opinion among many. It may or may not be correct and is a topic about which many highly intelligent, educated people disagree. I do not personally agree and think it is extremely unlikely that future changes to SS payouts will affect those already retired or retirement-eligible. However, neither basspond nor I has a crystal ball that allows us see the future, so you have to formulate your...
by RobInCT
Wed Jan 01, 2014 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Would a bank give me a loan for covering living expenses?
Replies: 14
Views: 1613

Re: Would a bank give me a loan for covering living expenses

What about, instead of going back to school for an entire degree, enrolling in some classes that you can afford to pay for out-of-pocket? If time/scheduling is a real constraint, you could look into online programs. I would look at the jobs you want, see what skills they are asking for that you do not have (or that you do have but can't prove you have because of lack of educational credentials) and then enroll in classes that target those skills. This would allow you to add to your resume "B.A. in International Relations, [[x] hours of] [intermediate/advanced] coursework in [skill 1], [skill 2], [skill 3]." You're looking at a financial commitment anyway you go. I'd personally rather spend the money getting some tangible credentia...
by RobInCT
Wed Jan 01, 2014 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Single & Frugal or Coupled & (Financially) Incompatible?
Replies: 107
Views: 16783

Re: Single & Frugal or Coupled & (Financially) Incompatible?

I wouldn't rule out the men (or women) with 6-figure debts if that's due to professional schooling rather than behavioral issues. Good point. I had six-figure debt when I was in my 20s. Made lifestyle and job choice decisions that allowed me to pay it off quickly by my early 30s and have no intentions of accruing any more. I don't think that would have make me financially incompatible in my 20s with someone who avoided educational debt altogether. Also, consider that this is really a cost-benefit analysis. For me the benefits of being in a relationship--and they are substantial--would probably not be enough to outweigh the drawbacks of being with someone who was recklessly jeopardizing our financial futures in significant ways, e.g. though...
by RobInCT
Tue Dec 31, 2013 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Single & Frugal or Coupled & (Financially) Incompatible?
Replies: 107
Views: 16783

Re: Single & Frugal or Coupled & (Financially) Incompatible?

Relationships are about compromise--about EVERYTHING. If you're not interested in compromise, then a life partnership is probably not for you. I'm not suggesting you date a spendthrift--someone whose financial habits are so vastly different from your own is probably going to have other things about him that make him not a suitable life partner. But you're likely never going to find someone whose spending philosophy exactly and precisely matches your own, and if even small discrepancies, like a habit of splurging on name-brand rather than store-label peanut butter, are going to be deal-breakers for you, then that's going to be tough. MY SO and I are on generally the same page. We both believe in spending less than we make. We both dislike de...
by RobInCT
Sun Dec 29, 2013 1:31 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads 2014 Hedge fund contest
Replies: 160
Views: 26667

Re: Bogleheads 2014 Hedge fund contest

Hedge Fund: Inside Trader

Long:
AMZ
ULTA

Short:
BKS
YUM
by RobInCT
Sat Dec 28, 2013 8:19 am
Forum: Personal Investments
Topic: Drawing Down a "Peace of Mind" Fund
Replies: 12
Views: 1459

Re: Drawing Down a "Peace of Mind" Fund

The purpose of emergency funds is to decrease, rather than increase stress. If you've only been building this fund for a few years, and you're now depleting it by 2%, seems like you should be able to replenish funds within a month or two. I recommend automatic deposits and less frequent checking of the total. Because, yes, your concern does sound unhealthy and unreasonable. However, it's good that you recognize that.
by RobInCT
Thu Dec 26, 2013 10:47 am
Forum: Personal Finance (Not Investing)
Topic: I think low cost of living trumps retiring in a no state in
Replies: 80
Views: 7837

Re: I think low cost of living trumps retiring in a no state

I assume you're asking from a purely financial standpoint without regard to "intangibles" (quality of life, proximity to family, weather, access to specialized health care, etc.). If so, this is a math question and one that cannot be answered without reference to specific data points. In particular, how low is the cost of living, how high are the state income taxes, what are your consumption habits, and what portion of your income will be taxable in the state in question? You'd have to take 2 or more places, add up the all-in costs of living in both and run the comparison. I'm sure some low COL areas are cheaper to live in than some no-income-tax areas. I'm sure some are not. And yes, as you point out, some of it depends on your t...
by RobInCT
Thu Dec 26, 2013 10:19 am
Forum: Personal Investments
Topic: Raw land as an investment
Replies: 23
Views: 5869

Re: Raw land as an investment

I view raw land like I view individual stocks--some of it/them will make some people rich, some if it/them will make people go broke. I'd like to think I'm smart enough to outsmart the market, the developers, and the hedge funds--to dig into a company's financials or a city's zoning/growth prospects and come out with more/better information than the professionals, but at the end of the day, it's just not a risk I'm willing to take with my retirement funds.

I'm going to retire on my savings in index funds.
by RobInCT
Wed Dec 25, 2013 5:47 am
Forum: Personal Investments
Topic: Totally New to BogleStyle after firing adviser. Please help!
Replies: 27
Views: 3693

Re: Totally New to BogleStyle after firing adviser. Please h

Thanks Novine and bayview. Ok, I get that I don't want to get caught in the middle of a major correction/collapse right when I need the money for retirement. I'd like to think that with 11 years to go there is time to shift away from equity risk that might occur soon before retirement. But on the other hand, as I newly think about something many of you have already considered, it will be harder to recover from a drop if my AA needs to shift away from equities due to age. A couple of things: 1) In our most recent round of economic instability, it took almost 6 years for the market to re-attain its October 2007 peak. If the market crashes when you're 60, what are you going to do? Even assuming you're not prone to panic selling, if the curren...
by RobInCT
Tue Dec 24, 2013 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Help with wife's student loans
Replies: 26
Views: 4274

Re: Help with wife's student loans

How confident do you feel in your marriage? (You do not need to answer that out loud--just something to think about). One solution is to take out extra federal student loans under your own name and to use the surplus to make payments on and/or pay off some of your wife's. I believe you can take out a maximum of federal student loans equal to the school's projected student budget. This amount is usually more than sufficient to cover living expenses with some left over. In addition--at least at my graduate school--it's possible to get the financial aid office to revise their budget upwards so that you are able to take out even more if you are able to cite a valid reason for needing to exceed the predetermined budget. On the plus side, whateve...
by RobInCT
Tue Dec 24, 2013 5:11 am
Forum: Personal Investments
Topic: Totally New to BogleStyle after firing adviser. Please help!
Replies: 27
Views: 3693

Re: Totally New to BogleStyle after firing adviser. Please h

Thanks LadyGeek, and all the other helpful posters. Based on what I've heard, I've revised the plan (with fear and reluctance! especially regarding the bond allocation) to increase the bond portion of my AA to 65/35 from 75/25. I think you're doing the right thing. I also think you need to make it a plan to increase the bond percentage on a regular basis in the coming years. You're right that you're fortunate to have a lot of other resources and other options, including continuing to work. But you do not want to end up in a situation where you are having to begin your retirement by withdrawing substantial funds in a sharply down market. Sixty-six is not exactly an early retirement age--you don't want to be betting on your ability to contin...
by RobInCT
Sun Dec 22, 2013 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Student loans now refinanced - pay down or invest?
Replies: 15
Views: 2924

Re: Student loans now refinanced - pay down or invest?

I am not a lawyer, but I am about your age and have many friends who are biglaw lawyers who are about your age in in approximately your financial position. One important question--what do you intend to do after you leave your law firm? Law jobs are notoriously unstable, and I absolutely would not assume that you will still be at your same job in late 2016, whether by choice or not. Lots of my friends have left good law firms with growing practice areas earlier than they expected to leave simply because they couldn't stand their work/the hours/the clients/etc. Four years is an above-average lifespan for a biglaw associate. You may be the above-average associate, but I wouldn't bet your financial future on it. What is the best decision depend...
by RobInCT
Sun Dec 22, 2013 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Job offer
Replies: 19
Views: 1512

Re: Job offer

No way. And I hate commuting. Future employers want to know your salary history. It is better to earn more. And it would be embarrassing to tell somebody that you took a job for less to commute less. At least I would glaze over at this and probably hold it very much against you. This is crazy. People take pay cuts all the time for any number of reasons. Better working hours, better corporate environment, better benefits package, prior relationships with management or key staff, more opportunity for advancement, better location, more scheduling flexibility, more interesting work, etc. I might not say in an interview "I took a salary cut because I don't like driving," but then, I'm sure the OP is reasonable person with a modicum of...
by RobInCT
Sun Dec 22, 2013 8:10 am
Forum: Personal Finance (Not Investing)
Topic: [Distribution of Estate to Heirs in the Philippines]
Replies: 25
Views: 4931

Re: Distribution of Estate to 3rd World Country

Citibank has a small presence in the Philippines, it is a separate entity, and they don't have much presence outside of Manila. And Citibank just sold many of their banks to BDO a few weeks ago, which is the country's largest bank. Although that transaction is not yet completed. I was told the branch located near me here in the Philippines will close (or rather changeover to BDO) by March and some of the senior staff have already left. Not necessarily relevant--the question is how to get the money to them securely, not how to continue convenient ongoing access. I would assume after receiving the funds through Citibank or HSBC or whatever foreign bank is most convenient to them and acceptable to the executor, the heirs would probably transf...
by RobInCT
Sun Dec 22, 2013 7:14 am
Forum: Personal Finance (Not Investing)
Topic: [Distribution of Estate to Heirs in the Philippines]
Replies: 25
Views: 4931

Re: Distribution of Estate to 3rd World Country

With respect, the suggestion that you would not send money to a bank account whose account number has been sent through email because you believe it is not secure indicates to me that you are extremely conservative about such things. I've sent my bank account number over email. Is it 100% secure? Of course not. But I would certainly not go out and change my account number because of it. Also, I'm unclear how your bank manager, who is from some other "third world country," would have special insight into the security situation in the Philippines. No more than I would have any special insight into the security risks in France or Norway. There are a lot of US expats living in the Philippines. Some of these people presumably have subs...
by RobInCT
Sat Dec 21, 2013 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Should I move to California from Midwest?
Replies: 153
Views: 14767

Re: Should I move to California from Midwest?

How old are the kids? If they young, you can always go out there, stay for a couple of years and then move back where you are (or somewhere else) if you don't love it. If the kids are older, that might be less than ideal. One consideration I haven't heard mentioned on this forum is how you think you might feel 10 years down the road if you don't take the opportunity and your current job continues not to excite you. I've found people feel really differently about things like this. Some people are prone to regret and to thinking "what if." Some people have the ability to make a decision and not look back. I'm about your age, as are most of my friends. This is a fairly common kind of decision that has to be made by people in our age/...
by RobInCT
Sat Dec 21, 2013 9:11 am
Forum: Personal Finance (Not Investing)
Topic: How to fight work place bullying
Replies: 76
Views: 7768

Re: How to fight work place bullying

My SO works in HR. She suggests mentioning it to HR in the exit interview, but in a neutral and fact-based way rather than in a personal and/or accusatory one. "I'm leaving because I feel the position did not afford me the degree of independence and autonomy that I expected given my job title and the responsibilities that were described to me upon my hire. For example, I was surprised to learn that I was not allowed to attend meetings by myself and was expected to copy [manager] on every piece of correspondence I sent. I feel I need to look for a position that affords me more responsibility and the opportunity to make a greater contribution to the company. There has also been a high degree of management turnover in the time since my hi...
by RobInCT
Fri Dec 20, 2013 4:26 pm
Forum: Personal Consumer Issues
Topic: Using cash
Replies: 56
Views: 4867

Re: Using cash

I'm personally unfamiliar with any "horror stories" involving theft of credit card numbers of people who are reasonably on top of their finances (i.e. people who have a general sense of what's going on with their account, are comfortable calling credit card companies if needed, etc.). And no, having someone make a fraudulent charge, reporting it--or having it reported to you by your credit card company--and having to go without your card for a few days while you wait for a new card to arrive is not a "horror story." Perhaps 80 year-old Aunt Sally who doesn't know how to access the internet and might go 6 months without opening her mail might have some cause for concern. I don't see the sense in knee-jerking the Target st...
by RobInCT
Thu Dec 19, 2013 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Bryn Mawr [College]
Replies: 68
Views: 7317

Re: Bryn Mawr

Valuethinker wrote:In the professions in the USA it seems to be more important where the postgrad came from (JD, MBA, MD, Phd).
Agreed, though don't underestimate the value of a blue-chip undergrad in gaining admissions to the blue-chip professional schools. Not to say it's impossible to go from anon State U to Wharton, but it is harder. I wouldn't take out $200k in debt to attend Bryn Mawr. If it can be done with a reasonable debt load or with no debt, and if the granddaughter is excited about attending because she is excited about the unique features it offers, I think it's a great school.
by RobInCT
Thu Dec 19, 2013 8:32 am
Forum: Personal Consumer Issues
Topic: Tipping Movers
Replies: 41
Views: 4508

Re: Tipping Movers

I guess there is some chance this is a regional custom, but I would never consider not tipping movers. I would give $20 per mover for relatively simple moves, e.g. one-bedroom to and from an apartment with an elevator. I'd probably give more like $40 or $50 per guy if they were moving an entire house, or hauling my couch up and down four flights of stairs in the middle of summer.

On top of the tip, I try to make sure I have seasonally appropriate extras available to them--chilled bottled water in summer, coffee in winter. Moving is hard work.
by RobInCT
Wed Dec 18, 2013 4:22 pm
Forum: Personal Consumer Issues
Topic: Landlord/Tenant Issue
Replies: 25
Views: 2855

Re: Landlord/Tenant Issue

TRC wrote:
Barefootgirl wrote:
Over time, previous stains came to the surface of the carpet that were there prior to my residency.
How is this possible?
littlebird wrote:
frugaltype wrote:
Barefootgirl wrote: Over time, previous stains came to the surface of the carpet that were there prior to my residency.
I never heard of this happening to a carpet...what process is at work with that?.
Some carpet cleaners have optical brighteners in them, which camouflage dark stains, for a while, 'til it wears off.
by RobInCT
Wed Dec 18, 2013 10:24 am
Forum: Personal Consumer Issues
Topic: Landlord/Tenant Issue
Replies: 25
Views: 2855

Re: Landlord/Tenant Issue

Lots of management companies make all sorts of unreasonable requests under the assumption that tenants are not informed and will not bother to inform themselves of the applicable legal rules. In large cities like New York, where it's a landlord's market, these requests often amount to little more than a shakedown since the landlord knows that a prior bad recommendation from one landlord can effectively blacklist a tenant make it extremely difficult for that tenant to rent from ANY other landlord in the future. Many renters pay up just to avoid that risk. I don't know that this is what your landlord is doing, but I would proceed with caution just in case. I'd personally start with a nice note saying you're sorry that the management company f...