Search found 2574 matches

by oldfort
Sat Apr 17, 2021 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: What Does College Tuition Really Cost?
Replies: 58
Views: 4149

Re: What Does College Tuition Really Cost?

For background my kid will have a 4.0 GPA (but not "just" 4 APA classes), combined we earn about $300K a year and assets of $5+M. Would they qualify for any tuition breaks based on people's experience? Is it roughly 10%, 50% or something else? You will get zero need based aid. You might g...
by oldfort
Fri Apr 16, 2021 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

Where is anyone saying that getting rejected by Princeton is a proxy for unobserved student ability? The Dale-Krueger 2011 study, which nigel_ht keeps referring to, said the most selective school a student applied to was a measure of unobserved student ability. Alan Krueger said applying to and get...
by oldfort
Fri Apr 16, 2021 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: At what salary range to move out of a HCOL state?
Replies: 21
Views: 2097

Re: At what salary range to move out of a HCOL state?

$98k/year compared to NJ's cost of living isn't great. If your income doesn't increase by the time your kid is ready to enter school, I would look elsewhere.
by oldfort
Thu Apr 15, 2021 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

This is really easy to say when money isn't an issue. Tell that to the "average" U.S. family. The average US family will pay none to attend the top privates in the US if their children is accepted. If a family has an income below $80k, Harvard is going to be nearly as cheap as their local...
by oldfort
Thu Apr 15, 2021 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

You’re simply requoting the same passage and still excluding the context provided in the paper. You also ignore the 35% that were accepted to the more selective school but chose a less selective one. These did as well as the kids that went to the more selective school. You may not like the proxy bu...
by oldfort
Thu Apr 15, 2021 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

You’re simply requoting the same passage and still excluding the context provided in the paper. You also ignore the 35% that were accepted to the more selective school but chose a less selective one. These did as well as the kids that went to the more selective school. You may not like the proxy bu...
by oldfort
Tue Apr 13, 2021 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

I've read the study multiple times and I never saw a convincing argument for why being REJECTED from Princeton should make you more successful in life or be a proxy for unobserved student ability. To the extent applying to a school which rejects you is a proxy for anything, it's a measure of whethe...
by oldfort
Tue Apr 13, 2021 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

You’re simply requoting the same passage and still excluding the context provided in the paper. You also ignore the 35% that were accepted to the more selective school but chose a less selective one. These did as well as the kids that went to the more selective school. You may not like the proxy bu...
by oldfort
Mon Apr 12, 2021 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

Dale-Krueger have a strange idea of what student quality is. They define it as the most selective school which you apply to, whether you are accepted or rejected. Excepts from the 2011 paper: "While the average SAT score for colleges in the C&B dataset ranged from approximately 800 to over...
by oldfort
Mon Apr 12, 2021 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

Dale-Krueger have a strange idea of what student quality is. They define it as the most selective school which you apply to, whether you are accepted or rejected. Excepts from the 2011 paper: "While the average SAT score for colleges in the C&B dataset ranged from approximately 800 to over...
by oldfort
Mon Apr 12, 2021 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

They had to define it that way. Their goal was isolating the effect of the college a student attended from whatever individual characteristics of the student made them an attractive applicant to a college. Their approach said, in effect, "whatever it may be that elite colleges value in admissi...
by oldfort
Mon Apr 12, 2021 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

Outside of Ivy (or Ivy level) schools, I think choosing the in-state flagship makes the most sense. Why pay an Ivy league price tag for a mediocre education from a lesser private school? Advanced degrees, in particular professional degrees, completely change the importance of undergrad. For example...
by oldfort
Mon Apr 12, 2021 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

No amount of money can repeat 4 years being surrounded by highly motivated peers. Also, $100k is a chump change in some fields. Some of my friends almost saved that much in the first two years out of college working at Google. +1. $100k vs $300k is chump change when you consider lifetime earnings i...
by oldfort
Mon Apr 12, 2021 10:18 am
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

No amount of money can repeat 4 years being surrounded by highly motivated peers. Also, $100k is a chump change in some fields. Some of my friends almost saved that much in the first two years out of college working at Google. +1. $100k vs $300k is chump change when you consider lifetime earnings i...
by oldfort
Mon Apr 12, 2021 10:05 am
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10180

Re: The primary factor for picking a College/University is out of pocket cost

Outside of Ivy (or Ivy level) schools, I think choosing the in-state flagship makes the most sense. Why pay an Ivy league price tag for a mediocre education from a lesser private school? This mentality annoys me, when people talk as if there's 10 colleges in the country where you can get a good edu...
by oldfort
Sat Apr 10, 2021 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Liability Associated with Son's Car: Homeowner's Insurance and Umbrella
Replies: 23
Views: 1816

Re: Liability Associated with Son's Car: Homeowner's Insurance and Umbrella

Why are you worried about the FCD, when according to you it doesn't apply?
by oldfort
Sat Apr 10, 2021 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: How to resolve tax disagreement with my CPA?
Replies: 28
Views: 4368

Re: How to resolve tax disagreement with my CPA?

dkoffer wrote: Fri Apr 02, 2021 10:44 am Am I wrong? Does the IRS statement not matter? How should I handle this?
Thanks!
Unless it's documented in writing, so a private letter ruling, conversations withe the IRS don't mean much.
by oldfort
Wed Mar 31, 2021 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: $1M / $5M Geico Umbrella Policy in Florida: Are These Numbers Insane?
Replies: 40
Views: 3498

Re: $1M / $5M Geico Umbrella Policy in Florida: Are These Numbers Insane?

Insurance is priced by zip code. What zip code do you live in?
by oldfort
Mon Mar 29, 2021 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Private School - financially irresponsible?
Replies: 213
Views: 16738

Re: Private School - financially irresponsible?

OP has two posts ever. I assume they left this thread a long time ago.
by oldfort
Sat Mar 27, 2021 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

No idea how collecting on disability is. I'm assuming it can't be easy either or that the business is otherwise lucrative to the insurer in some way, or they wouldn't be in the business of writing disability insurance policies. Based on the quotes I've gotten and the posts of others, disability ins...
by oldfort
Sat Mar 27, 2021 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

I'm not shocked. Especially with a white collar job where you don't have to do anything more physically demanding than type on a keyboard, in most cases you will either get better within a few years or else sadly pass away. Mental illness might be one of the exceptions. True, I have not considered ...
by oldfort
Sat Mar 27, 2021 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

I am shocked when I meet young single people that have life insurance but not disability insurance. As a self-employed person, that was the first insurance (after medical) that I purchased after college. I got a very basic policy, NOT "own occupation", with a very modest payout of $4K per...
by oldfort
Sat Mar 27, 2021 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

If you're in their target market, you might talk to AIG Private Client and see if they can offer you a solution. They offer boutique products like kidnap insurance up to $50 million and might offer anything for the right price. I don't have any personal experience. If nothing else, they should be ab...
by oldfort
Fri Mar 26, 2021 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

Is there some type of accident insurance to cover those things not funded by negligence lawsuits ? I am a big believer in large deductibles on my auto, home and medical, not looking to never pay for services. Just looking for catastrophic protection at reasonable cost. Thoughts ? You could get some...
by oldfort
Fri Mar 26, 2021 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

beyou wrote: Fri Mar 26, 2021 6:41 pm Some employers offer "accident" insurance for business trips. And yes top athletes can insure a limb etc.
But for the casual skier, rock climber etc, what does one do ?
Anyone can go out and get accident insurance. You don't have to get it from an employer or be a professional athlete.
by oldfort
Fri Mar 26, 2021 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

Is there some type of accident insurance to cover those things not funded by negligence lawsuits ? I am a big believer in large deductibles on my auto, home and medical, not looking to never pay for services. Just looking for catastrophic protection at reasonable cost. Thoughts ? You could get some...
by oldfort
Fri Mar 26, 2021 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

For young working age people, disability insurance is an important piece of the puzzle I think. I’m familiar with these in the context of employer sponsored plans, but not sure whether a parent/or child could but for an adult child in grad school? SSDI is the only disability insurance that I'm awar...
by oldfort
Fri Mar 26, 2021 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan insurance
Replies: 45
Views: 3521

Re: Black Swan insurance

You can buy disability insurance. If you have a history of working, you can receive SSDI. Some umbrella policies will provide for excess UM/UIM. Some accidental death and dismemberment insurance will cover paralysis. You can of course buy long term care insurance. In the worst case scenario of perma...
by oldfort
Fri Mar 26, 2021 12:05 pm
Forum: Personal Consumer Issues
Topic: Retention of Government Employee E-mails
Replies: 23
Views: 1788

Re: Retention of Government Employee E-mails

I'm just concerned that if I give out my street address, phone number or other personal information to someone with a .gov e-mail account and someone does an FOIA request, it may end up on a website somewhere for the world to see. I think the other posters answered the federal retention & FOIA ...
by oldfort
Thu Mar 25, 2021 1:15 am
Forum: Investing - Theory, News & General
Topic: Hedge funds, private equity and AI/quantitative trading are all myths and underperform the market.
Replies: 22
Views: 1797

Re: Hedge funds, private equity and AI/quantitative trading are all myths and underperform the market.

Huh? Not all hedge funds are created equal. Just like not all people are Jeff Bezos. There are some that have proven track record of huge outperformance. Renaissance's flagship Medallion fund is one of the most notable example of such historically. Can we once and for all stop talking about the Med...
by oldfort
Wed Mar 24, 2021 6:53 pm
Forum: Personal Consumer Issues
Topic: Retention of Government Employee E-mails
Replies: 23
Views: 1788

Re: Retention of Government Employee E-mails

If they're too lazy to bother for me or even admit it might be possible to recover the emails, I'm extremely skeptical they would recover the emails over a mere FOIA request. Now, if the FBI was conducting a criminal investigation, it might be different. Incompetent or not, they're the IT I have at...
by oldfort
Wed Mar 24, 2021 6:23 pm
Forum: Personal Consumer Issues
Topic: Retention of Government Employee E-mails
Replies: 23
Views: 1788

Re: Retention of Government Employee E-mails

What do you mean they don't disappear when I delete them? When I asked IT for help in trying to recover some deleted emails, they told me it was impossible. At least according to my IT department, emails are permanently irrecoverable after deletion. Assume there is some backup somewhere. If IT won'...
by oldfort
Wed Mar 24, 2021 4:12 pm
Forum: Personal Consumer Issues
Topic: Retention of Government Employee E-mails
Replies: 23
Views: 1788

Re: Retention of Government Employee E-mails

Technically, a federal employee should only use their government email for official business. If you’re worried about the issue, ask them to communicate via a personal email address, which they should be doing anyway. The real world answer to your question is emails are saved until an employee choo...
by oldfort
Wed Mar 24, 2021 3:01 pm
Forum: Personal Consumer Issues
Topic: Retention of Government Employee E-mails
Replies: 23
Views: 1788

Re: Retention of Government Employee E-mails

Technically, a federal employee should only use their government email for official business. If you’re worried about the issue, ask them to communicate via a personal email address, which they should be doing anyway. The real world answer to your question is emails are saved until an employee choos...
by oldfort
Tue Mar 23, 2021 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Which U.S. military bases are the best locations to work as a civilian RN?
Replies: 19
Views: 2370

Re: Which U.S. military bases are the best locations to work as a civilian RN?

Really depends on what you're looking for. If you want good weather and beaches, look for places in Florida, California, and Hawaii. As a cultural experience, I know people who have been overseas and loved it. If you want to ski/snowboard, there's places in Utah and Colorado. If you want a large cit...
by oldfort
Sun Mar 21, 2021 11:42 pm
Forum: Investing - Theory, News & General
Topic: fiat collateralized stable coins
Replies: 53
Views: 3084

Re: fiat collateralized stable coins

So they are basically trying to stack a fractional reserve banking system on top of the one we already have, except they would not get bailed out when they run out of money. Yeah....so they're using the money multiplier effect with no reserve backing. And with no stress test, either. It would be an...
by oldfort
Tue Mar 16, 2021 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy; Anyone actually made a claim?
Replies: 211
Views: 16051

Re: Umbrella Policy; Anyone actually made a claim?

You cite the 0.0001% chance of paying 20k to a lawyer, but not the comparable chance of losing everything. Many people aren't at risk of losing everything. In the worst case of having to file Chapter 7 in MA, you would get to keep your 401k or equivalent, IRAs up to $1.36 million, and with proper p...
by oldfort
Mon Mar 15, 2021 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy; Anyone actually made a claim?
Replies: 211
Views: 16051

Re: Umbrella Policy; Anyone actually made a claim?

You cite the 0.0001% chance of paying 20k to a lawyer, but not the comparable chance of losing everything. Many people aren't at risk of losing everything. In the worst case of having to file Chapter 7 in MA, you would get to keep your 401k or equivalent, IRAs up to $1.36 million, and with proper p...
by oldfort
Thu Mar 11, 2021 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Why to work more?
Replies: 26
Views: 1554

Re: Why to work more?

I just did my taxes. My total effective tax rate is 38% including medicare, social security, federal, state and city taxes. Marginal rate may be even higher. On top of that we do not qualify for any stimulus, child tax credit and many other incentives. I am wondering why should I work more to make ...
by oldfort
Wed Mar 10, 2021 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Should umbrella insurance amount be based on assets?
Replies: 51
Views: 3635

Re: Should umbrella insurance amount be based on assets?

Are all lawsuits limited to auto and home? 8-) As a practical matter, any lawsuit covered by your umbrella is likely to be covered by some other underlying policy. Something like 80-90% of personal umbrella claims are for auto accidents. If you own a large boat, yacht, or aircraft, your umbrella ma...
by oldfort
Wed Mar 10, 2021 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Should umbrella insurance amount be based on assets?
Replies: 51
Views: 3635

Re: Should umbrella insurance amount be based on assets?

Yes. As long as the defendant wasn't drunk driving or a very small number of other scenarios where civil liability isn't dischargeable in many states. Note also that if you earn more than median income, you'll likely have to go through Chapter 13, which means you contribute 5 years of disposable in...
by oldfort
Tue Mar 09, 2021 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Should umbrella insurance amount be based on assets?
Replies: 51
Views: 3635

Re: Should umbrella insurance amount be based on assets?

I settled on a $1,000,000 policy, which is less than my non-judgement-proof assets. I figure the insurance company will work plenty hard to prevent paying out that amount. I'm in a low risk situation - no kid drivers, no pool, living in a condo so no grounds or steps or sidewalks. That's not the ma...
by oldfort
Mon Mar 08, 2021 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Borrowing a relative's car for two months
Replies: 49
Views: 3042

Re: Borrowing a relative's car for two months

I may be completely mistaken, but I have the idea that one's own liability coverage goes with one when borrowing someone else's car but damage to the vehicle itself goes with the policy on the car no matter who drives it, for casual uses of a car. Most likely all bets are off for being a 100% user ...
by oldfort
Sun Mar 07, 2021 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Can I avoid a prenuptial agreement if I do this?
Replies: 86
Views: 5149

Re: Can I avoid a prenuptial agreement if I do this?

I am trying to avoid having to talk about prenuptial agreement with my fiancee I would not marry someone if I were afraid to talk to them about important topics like this. On the other side, I'm not sure I would want to "marry" someone in the traditional sense of a life-long bond through ...
by oldfort
Sun Mar 07, 2021 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can I avoid a prenuptial agreement if I do this?
Replies: 86
Views: 5149

Re: Can I avoid a prenuptial agreement if I do this?

I am trying to avoid having to talk about prenuptial agreement with my fiancee I would not marry someone if I were afraid to talk to them about important topics like this. On the other side, I'm not sure I would want to "marry" someone in the traditional sense of a life-long bond through ...
by oldfort
Sun Mar 07, 2021 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 963
Views: 161400

Re: High Earners - What's Your Profession?

Technician - Instrument and Controls Nuclear Power Plant. Union. Have a 2 year specialized degree. Took 4 years experience to hit the full pay rate. Gross $105k base salary, made around $145k gross last year. Decent travel and overtime opportunities. I'd say 100k isn't high when compared with many ...
by oldfort
Sun Mar 07, 2021 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 963
Views: 161400

Re: High Earners - What's Your Profession?

Technician - Instrument and Controls Nuclear Power Plant. Union. Have a 2 year specialized degree. Took 4 years experience to hit the full pay rate. Gross $105k base salary, made around $145k gross last year. Decent travel and overtime opportunities. I'd say 100k isn't high when compared with many ...
by oldfort
Sun Mar 07, 2021 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 963
Views: 161400

Re: High Earners - What's Your Profession?

Technician - Instrument and Controls Nuclear Power Plant. Union. Have a 2 year specialized degree. Took 4 years experience to hit the full pay rate. Gross $105k base salary, made around $145k gross last year. Decent travel and overtime opportunities. I'd say 100k isn't high when compared with many ...
by oldfort
Wed Mar 03, 2021 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should/can DS file on his own as independent?
Replies: 22
Views: 719

Re: Shoulds/can DS file on his own as independent?

Apologies if this has been addressed before. DS is going to undergrad and has got a tuition scholarship. He is a recipient of a 1099Q and 1099T if I remember correctly. Looking over the IRS rules for a dependent, he meets them. My understanding is that he should be able to file independent (i.e., n...
by oldfort
Tue Mar 02, 2021 10:58 pm
Forum: Personal Consumer Issues
Topic: How much do you spend nightly for hotels (leisure/vacation)?
Replies: 213
Views: 12799

Re: How much do you spend nightly for hotels (leisure/vacation)?

It's not just about the size of the room- it's about the quality of the hotel itself, the amenities, dining, etc. I can say I've never had a bad experience at any Four Seasons property and this is worth the cost for me. I utilize the concierge so I don't HAVE to make dining reservations or research...