My daughter got her dream job [Proud Papa]

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stemikger
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My daughter got her dream job [Proud Papa]

Post by stemikger » Sun Jan 21, 2018 7:46 am

Just a proud Dad moment.

Even though I know more than the average person when it comes to investing, I will forever be a newbie compared to 90% of the smart people on this forum, so I was a little nervous to look at her 401K options.

To my extreme delight the default option was the Vanguard Target Retirement 2050 Institutional fund with very low fees. I didn't even bother looking at anything else, I told her to put 100% in that fund and don't look back.
Last edited by stemikger on Sun Jan 21, 2018 10:49 am, edited 2 times in total.
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samsoes
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Re: My daughter got her dream job

Post by samsoes » Sun Jan 21, 2018 7:50 am

Congratulations my friend! This is fantastic news!! :sharebeer
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IowaFarmWife
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Re: My daughter got her dream job

Post by IowaFarmWife » Sun Jan 21, 2018 7:50 am

I am so happy for your daughter and yout family! Congratulations to all of you😀💐🌷

bubbadog
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Re: My daughter got her dream job

Post by bubbadog » Sun Jan 21, 2018 7:51 am

Well done, congrats!

You should be very proud.

livesoft
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Re: My daughter got her dream job

Post by livesoft » Sun Jan 21, 2018 7:53 am

Thanks for the report and congrats to both Daughter and Dad.

I am mentoring a MSW who works in Manhattan, too. Do you mind sending me a PM of your daughter's starting salary and benefits?
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LiveSimple
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Re: My daughter got her dream job

Post by LiveSimple » Sun Jan 21, 2018 7:56 am

Happy for you, your daughter and your family.
Your post helps us to focus on the family and get along the rough roads, whatever it may be.

Wish you all the best.

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ChowYunPhat
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Re: My daughter got her dream job

Post by ChowYunPhat » Sun Jan 21, 2018 7:57 am

Awesome news Stemikger! What a great accomplishment for both her and you and reason to celebrate. Reading between the lines there was a significant amount of hard work and life lessons taking place across the family over the last 6 years. :sharebeer
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stemikger
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Re: My daughter got her dream job

Post by stemikger » Sun Jan 21, 2018 8:01 am

ChowYunPhat wrote:
Sun Jan 21, 2018 7:57 am
Awesome news Stemikger! What a great accomplishment for both her and you and reason to celebrate. Reading between the lines there was a significant amount of hard work and life lessons taking place across the family over the last 6 years. :sharebeer
Oh yeah, there were times when I couldn't see the light at the end but of course you never give up on your child, I always saw the potential in her, but I'm sure every parent feels that way.

Thanks for the kind words.
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stemikger
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Re: My daughter got her dream job

Post by stemikger » Sun Jan 21, 2018 8:03 am

livesoft wrote:
Sun Jan 21, 2018 7:53 am
Thanks for the report and congrats to both Daughter and Dad.

I am mentoring a MSW who works in Manhattan, too. Do you mind sending me a PM of your daughter's starting salary and benefits?
Hi Livesoft, I just send you a PM.

P.S. you certainly helped me along the way too!

Steve
Last edited by stemikger on Sun Jan 21, 2018 8:06 am, edited 1 time in total.
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stemikger
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Re: My daughter got her dream job

Post by stemikger » Sun Jan 21, 2018 8:04 am

Thanks for the kindness everyone and allowing me to express my gratitude!
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kjvmartin
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Re: My daughter got her dream job

Post by kjvmartin » Sun Jan 21, 2018 8:10 am

Very good starting job for an MSW, as hospitals tend to be among the top paying employers. Also, good on you for paying for the school. I completed my undergrad (BSW) with a load of debt and no financial support from family so I couldn't afford to start my MSW. My first licensed BSW social work job paid $12 an hour in 2007 - and I was fortunate to get that job and gain experience right away. 10 years have gone by and that debt is paid off, so it's something I think about.

I would advise anyone with an MSW to look into working for the Dept. of Veterans Affairs. If you can get in, very good and fulfilling job.

pennywise
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Re: My daughter got her dream job

Post by pennywise » Sun Jan 21, 2018 8:18 am

Congratulations and what joy to see your daughter become a person you not only love, but LIKE as a responsible, caring and gainfully employed adult :D .

In addition to sharing your pride, an actionable component of this topic is the value of working with kids as they become independent to gain financial literacy skills along with that newly minted degree and hard won first professional job.

As the OP points out, perhaps the greatest gift we can give them is to help guide them in beginning a lifelong habit of saving for their future. Gently advising on 401K options, listening as they run through how they can/should manage their 'operating capital' (roommate v. living alone, how much Starbucks, bar tab and restaurant spending is too much every month, new car payment or older cheaper model etc) and of course hopefully modeling for them in our own actions what a good and secure life looks like after decades of being a careful Boglehead---our role as parents changes but doesn't lessen in its importance.

student
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Re: My daughter got her dream job

Post by student » Sun Jan 21, 2018 8:24 am

Congratulations.

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stemikger
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Re: My daughter got her dream job

Post by stemikger » Sun Jan 21, 2018 8:25 am

pennywise wrote:
Sun Jan 21, 2018 8:18 am
Congratulations and what joy to see your daughter become a person you not only love, but LIKE as a responsible, caring and gainfully employed adult :D .

In addition to sharing your pride, an actionable component of this topic is the value of working with kids as they become independent to gain financial literacy skills along with that newly minted degree and hard won first professional job.

As the OP points out, perhaps the greatest gift we can give them is to help guide them in beginning a lifelong habit of saving for their future. Gently advising on 401K options, listening as they run through how they can/should manage their 'operating capital' (roommate v. living alone, how much Starbucks, bar tab and restaurant spending is too much every month, new car payment or older cheaper model etc) and of course hopefully modeling for them in our own actions what a good and secure life looks like after decades of being a careful Boglehead---our role as parents changes but doesn't lessen in its importance.
Wow! Awesome Pennywise! You said want I wanted to but was enable. Thanks for helping make it actionable!

Thank you!
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MSO4PRN
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Re: My daughter got her dream job

Post by MSO4PRN » Sun Jan 21, 2018 8:26 am

if you can edit, i would definitely delete her employer from this post. I understand you are happy, but what if someone who was an internal employee that was interviewing for this job with experience saw this post?

JMKEBogleGuy
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Re: My daughter got her dream job

Post by JMKEBogleGuy » Sun Jan 21, 2018 8:47 am

Beautiful Post... we live and die with our children and hope for the best for them as they find their way through the jungle of life. So glad to see this post as I have three kids who lost their mother at a young age and we have all been greatly affected. When your child is struggling having money fades into the background and you wish and pray for things to get better. I think you have echoed many parents on this site...

Wonderful and she will be helping so many with all that she has experienced in her short life.....

Congratulations.... :sharebeer :greedy :thumbsup

cherijoh
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Re: My daughter got her dream job

Post by cherijoh » Sun Jan 21, 2018 8:59 am

stemikger wrote:
Sun Jan 21, 2018 7:46 am
Just a proud Dad moment.

Even though I know more than the average person when it comes to investing, I will forever be a newbie compared to 90% of the smart people on this forum, so I was a little nervous to look at her 401K options.

To my extreme delight the default option was the Vanguard Target Retirement 2050 Institutional fund with very low fees. I didn't even bother looking at anything else, I told her to put 100% in that fund and don't look back.
Congratulations to your daughter and her dad! :happy

I certainly don't want to make light of what your daughter (and you as a family) went through, but it sounds like your daughter will be in a better position to relate to her clients than the average idealistic middle class student studying social work who has never struggled with anything. I understand that there is a very high burn out rate among social workers because they don't realize what they are getting into.

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Re: My daughter got her dream job

Post by TomatoTomahto » Sun Jan 21, 2018 9:00 am

JMKEBogleGuy wrote:
Sun Jan 21, 2018 8:47 am
Beautiful Post... we live and die with our children and hope for the best for them as they find their way through the jungle of life. So glad to see this post as I have three kids who lost their mother at a young age and we have all been greatly affected. When your child is struggling having money fades into the background and you wish and pray for things to get better. I think you have echoed many parents on this site...

Wonderful and she will be helping so many with all that she has experienced in her short life.....

Congratulations.... :sharebeer :greedy :thumbsup
I'm a sentimental softie for many things, but there's a special kind of smoke that gets in my eyes when I read of a parent's pride, joy, and (dare I say it) relief when one of their children launches.

Congratulations to you and yours. :sharebeer

KESP
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Re: My daughter got her dream job

Post by KESP » Sun Jan 21, 2018 9:04 am

Congratulations! It is a great feeling when they get that first real job. One piece of advice. Both of my wonderful intelligent daughters had some struggles when they first started. School can only take you so far. Some things in a job have to be experienced. They will”mess up.” I told them both it’s going to happen and just learn from it, and move on. In a year, they will look back and be amazed at how far they’ve come. I did get a few tearful phone calls that first year, but both got past that and are doing great!

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WoodSpinner
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Re: My daughter got her dream job

Post by WoodSpinner » Sun Jan 21, 2018 9:04 am

OP,

Congratulations to your daughter and you. It’s along hard road back from addiction and every single day’s success should be savored, marked and remembered.

I would check the 401k a bit more to make sure she understands any fees and what other options might be available as her nest egg grows.

You are now officially entitled to the PP designation — Proud Pappa!

Congrats

WoodSpinner

amitb00
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Re: My daughter got her dream job

Post by amitb00 » Sun Jan 21, 2018 9:06 am

Congrats. Great achievement.

Billionaire
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Re: My daughter got her dream job

Post by Billionaire » Sun Jan 21, 2018 9:35 am

Congrats to you and your daughter. It's nice to hear these stories.
Last edited by Billionaire on Sun Jan 21, 2018 10:06 am, edited 1 time in total.

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htdrag11
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Re: My daughter got her dream job

Post by htdrag11 » Sun Jan 21, 2018 9:55 am

As parents, our greatest accomplishment never can compete with our children's, IMO.

Congrats! Ours is a bit older than yours by about 10 years and she is in the Big Apple. Her T-IRA is in TSP while her taxable accounts are in Vanguard, managed by me! :sharebeer

Yes, it is a safe forum to share and gloat!

analyticalron
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Re: My daughter got her dream job

Post by analyticalron » Sun Jan 21, 2018 10:03 am

Congrats! As a new BH in my 20s, I enjoy reading these stories from the more "mature" perspective :sharebeer

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The529guy
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Re: My daughter got her dream job

Post by The529guy » Sun Jan 21, 2018 10:14 am

Congratulations on your daughter's success! She is lucky to have you.

GoldenFinch
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Re: My daughter got her dream job

Post by GoldenFinch » Sun Jan 21, 2018 10:15 am

Teen years are so difficult for some kids and it can be really heartbreaking to watch. I am always so happy to hear about a child who struggled through and ended up doing great! I’ve seen your posts about your daughter before so I’m glad to hear the update. I’m happy for your family.
:sharebeer :happy

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Re: My daughter got her dream job

Post by LadyGeek » Sun Jan 21, 2018 10:22 am

MSO4PRN wrote:
Sun Jan 21, 2018 8:26 am
if you can edit, i would definitely delete her employer from this post. I understand you are happy, but what if someone who was an internal employee that was interviewing for this job with experience saw this post?
Welcome! I would agree.

stemikger - I sent you a PM.
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Garco
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Re: My daughter got her dream job

Post by Garco » Sun Jan 21, 2018 10:27 am

Here's to your daughter's success. I'm all for daughters (and sons), wish I could have another one!! But I did my part, so to speak. And kids are well launched.

Pinotage
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Re: My daughter got her dream job

Post by Pinotage » Sun Jan 21, 2018 10:36 am

Congrats OP - you should be very proud :happy
MSO4PRN wrote:
Sun Jan 21, 2018 8:26 am
if you can edit, i would definitely delete her employer from this post. I understand you are happy, but what if someone who was an internal employee that was interviewing for this job with experience saw this post?
Excellent point, and clever username for this purpose!

MiddleOfTheRoad
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Re: My daughter got her dream job

Post by MiddleOfTheRoad » Sun Jan 21, 2018 10:38 am

Congrats!
Stay the course works in life and not just investing!

TallBoy29er
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Re: My daughter got her dream job

Post by TallBoy29er » Sun Jan 21, 2018 10:40 am

I enjoyed reading your story. Everyone falls, not everyone gets back up. I hope I can parent like you did through the hard times. peace

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stemikger
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Re: My daughter got her dream job

Post by stemikger » Sun Jan 21, 2018 10:46 am

MSO4PRN wrote:
Sun Jan 21, 2018 8:26 am
if you can edit, i would definitely delete her employer from this post. I understand you are happy, but what if someone who was an internal employee that was interviewing for this job with experience saw this post?
Thanks, I just did. I should have realized that!
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Re: My daughter got her dream job [Proud Papa]

Post by LadyGeek » Sun Jan 21, 2018 11:08 am

This thread is now in the Local Chapters and Bogleheads Community forum (Boglehead). I also clarified the thread title.

The privacy concerns have been resolved.
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Re: My daughter got her dream job [Proud Papa]

Post by DrGoogle2017 » Sun Jan 21, 2018 1:01 pm

Congrats! Proud moment indeed.

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Re: My daughter got her dream job [Proud Papa]

Post by Sandtrap » Sun Jan 21, 2018 1:07 pm

stemikger wrote:
Sun Jan 21, 2018 7:46 am
Just a proud Dad moment.

Even though I know more than the average person when it comes to investing, I will forever be a newbie compared to 90% of the smart people on this forum, so I was a little nervous to look at her 401K options.

To my extreme delight the default option was the Vanguard Target Retirement 2050 Institutional fund with very low fees. I didn't even bother looking at anything else, I told her to put 100% in that fund and don't look back.
Congratulations!
:sharebeer
Dad's done a great job.
The "mango" does not fall too far from the tree.

. . . . correction. . . you are more likely in the top 10% of the forum senior wizards. . . :D :D :D :D

j :D

TravelforFun
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Re: My daughter got her dream job [Proud Papa]

Post by TravelforFun » Sun Jan 21, 2018 1:15 pm

OP, congratulations but wait ... is Vanguard Target Retirement 2050 Institutional fund suitable to her? Are you satisfy with glide path built into the fund? My kids are early to late 30's and they are 100% in Vanguard Total Stock Market Index fund.

TravelforFun

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Re: My daughter got her dream job [Proud Papa]

Post by digarei » Sun Jan 21, 2018 3:05 pm

Congratulations, Steve.

Early in my investing career I expressed consternation at the fund choices available to me in my 401(k) but my father’s only advice was ‘Buy Low and Sell High!’

Q. What does a twenty five year-old with no understanding of investing do with such advice?

A. Ponder its inscrutability.

Your advice was much, much better.


~~~~~~~~~~
TravelforFun wrote:
Sun Jan 21, 2018 1:15 pm
OP, congratulations but wait ... is Vanguard Target Retirement 2050 Institutional fund suitable to her? Are you satisfy with glide path built into the fund? My kids are early to late 30's and they are 100% in Vanguard Total Stock Market Index fund.

TravelforFun
Seems pretty suitable for someone years away from retirement. 90% stocks. This is not too different from a 100% equity position with regard to expected returns. The glide path should act to dampen the impact of market declines that occur in later years.

If Vanguard is shown to be correct in their research, including international stocks in their retirement products may further enhance the performance vis a vis a 100% total stock market approach.


Source:

Vanguard Target Retirement 2050 Fund (VFIFX)
Portfolio & Management
https://personal.vanguard.com/us/funds/ ... true#tab=2
Connect with Bogleheads in Northern California! Click the link under my user info/avatar.

Miriam2
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Re: My daughter got her dream job [Proud Papa]

Post by Miriam2 » Sun Jan 21, 2018 7:55 pm

stemikger wrote: Just a proud Dad moment. . . . To my extreme delight the default option was the Vanguard Target Retirement 2050 Institutional fund with very low fees. I didn't even bother looking at anything else, I told her to put 100% in that fund and don't look back.
Stemikger, might the Vanguard Balanced Index fund feel a little left out and miffed at what dad did, lol? :wink: But it's the perfect choice for a millennial just starting out! Takes the stress off their investing decisions and allows them to enjoy their first years starting out life in their new job.
WoodSpinner wrote: You are now officially entitled to the PP designation — Proud Pappa!
We need a new addition to our wiki Abbreviations and Acronyms :happy

SimplicityNow
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Re: My daughter got her dream job [Proud Papa]

Post by SimplicityNow » Mon Jan 22, 2018 12:58 pm

Congrats!

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stemikger
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Re: My daughter got her dream job [Proud Papa]

Post by stemikger » Tue Jan 23, 2018 2:25 am

Thanks so much everyone! I really appreciate the well wishes.

:beer
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cocoon
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Re: My daughter got her dream job [Proud Papa]

Post by cocoon » Tue May 15, 2018 1:55 am

Congrats! It's amazing how proud we feel of our kids once they take their own way and see them succeed. I wish her and your whole family all the best! :sharebeer

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