Search found 9024 matches

by stoptothink
Fri Apr 16, 2021 8:39 am
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

....unless this entire post/discussion was started as a term we call "gunner behavior" in med school, where you deliberately mislead other people from making the right choice, eliminating competition for select spots before they even know it. Nope. My kid is average. The ROI for spending ...
by stoptothink
Fri Apr 16, 2021 8:15 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 68
Views: 3241

Re: can I get boglehead approval for a 70K truck?

Yes, you can. Just today, one of the employees, 2 levels below in my department showed me his pre-order Tesla truck today. He makes $25 an hour and his wife makes about the same. Sigh. Ehhh, one of my neighbors came home with a C8 the other day, he's a history teacher at the local high school and h...
by stoptothink
Thu Apr 15, 2021 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2501
Views: 573804

Re: Share your net worth progression

For reference, here is the latest professional study for the retirement savings by age: https://dqydj.com/retirement-savings-by-age/ Most people on this forum are definitely well beyond median numbers. The website provides a calculator to calculate your percentile. That is a very interesting link. ...
by stoptothink
Thu Apr 15, 2021 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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. Has anybody said don't attend a top private if you are accepted and have minimal cost? I al...
by stoptothink
Thu Apr 15, 2021 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

This might be surprising to some but money isn't everything in life. Say you want to research on robotic arms through neural implants. Good luck finding those jobs outside academia. Or these kinds of cool research projects currently at schools like Carnegie Mellon: (assistive robots for blind trave...
by stoptothink
Thu Apr 15, 2021 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

But more seriously -- one of the harder nuts to crack in higher ed is how to acculturate first-generation students (neither parent with bachelor's) to the norms of college, which are instrumental in graduation rates, success, and so forth. Being around a peer group that 'just knows' how things are ...
by stoptothink
Thu Apr 15, 2021 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

I'll give another perspective that shows just how hard "need" based aid is. Of course, this has probably changed over time, but when I was entering college in the early 1990's, it was expected that my parents (3 kids, I was the only one in college) should be paying some obscene amount of ...
by stoptothink
Thu Apr 15, 2021 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4621

Re: Power of a personal real estate offer letter

It works for some people and not for others. You have a 50% chance of them liking it and helping you or hating it :) As a seller in the past, I have asked the realtor to just toss the letters out. For me, this is a financial transaction, not a personal one (buying/selling a house). I know of severa...
by stoptothink
Thu Apr 15, 2021 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

The most important constituent on this thread is not participating in it, that is the student, what do they want to do? In end, no matter what other people think, the kid who is going to college will form their own opinion. It's nice to have these conversations for parents to develop ideas, but wit...
by stoptothink
Thu Apr 15, 2021 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

The most important constituent on this thread is not participating in it, that is the student, what do they want to do? In end, no matter what other people think, the kid who is going to college will form their own opinion. It's nice to have these conversations for parents to develop ideas, but wit...
by stoptothink
Thu Apr 15, 2021 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

Another thing to consider is that in a STEM field your daughter will likely be able to corral some well paying internships in the summer. Our sons had internships all three summers after school years, and all paid over 8k per month. That makes a nice dent in the costs. Ding! Ding! Ding! There are i...
by stoptothink
Thu Apr 15, 2021 9:36 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

^^^^THIS^^^^ Why all the secrecy? It is not like our kids are going to take your spot? School/major/aid should have all been in the first sentence. I may be wrong, but the first thought is because it isn't a school/program that may offer explainable benefits over other options and therefore posters...
by stoptothink
Thu Apr 15, 2021 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Biggest expenses in life
Replies: 50
Views: 4049

Re: Biggest expenses in life

camden wrote: Thu Apr 15, 2021 7:48 am

Divorce (surprised no one had mentioned that yet). Very painful financially and in every other way. Avoid if you can.
Paying off (ex) wife's undergrad loans and cash-flowing her dental school. The divorce was relatively cheap in comparison.
by stoptothink
Wed Apr 14, 2021 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 262
Views: 15662

Re: "Nobody's ever regretted paying off the mortgage."

Paying off the mortgage is a form of forced savings, and indeed most Americans who go into retirement with any kind of savings have most of it in their house. Most people aren't disciplined enough to save what they would have put toward the mortgage payoff: the real decision is between 'pay down th...
by stoptothink
Wed Apr 14, 2021 3:47 pm
Forum: Personal Consumer Issues
Topic: Non-fungible tokens (NFTs): anyone investing in those?
Replies: 246
Views: 17365

Re: Non-fungible tokens (NFTs): anyone investing in those?

Won’t the frictionless proliferation of NFTs have a tendency to erode value. Historically, collectibles have been valuable because of rarity/controlled manufacture. I would think rapid proliferation would quickly eat up available dollars. Maybe that’s not a concern yet, but would seem to be a conce...
by stoptothink
Wed Apr 14, 2021 3:43 pm
Forum: Investing - Theory, News & General
Topic: What's your definition of "Family Money"?
Replies: 47
Views: 5329

Re: What's your definition of "Family Money"?

have recently been told I have family money It might be helpful to describe the circumstances or context in which you were told this. I was letting someone know of the annual gift allowance my wife's grandfather has given to his grandkids as contributions to their Roths since they were old enough t...
by stoptothink
Wed Apr 14, 2021 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 262
Views: 15662

Re: "Nobody's ever regretted paying off the mortgage."

I paid off my mortgage six years ago. That money would have been earning close to 20% per year in the market. I deeply regret having paid it off. Paid ours off almost exactly a year ago, in <4.5yrs total. Wife and I agreed that we'd pay the mortgage off before opening a taxable account. Massive mis...
by stoptothink
Wed Apr 14, 2021 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

Uh, OK, simply strengthens one of the underlying points of "Operation Varsity Blues"; "elite" universities are the new Rolls Royce for parents. I don't begrudge anybody for spending $80k/yr to send their kid to a specific university without evidence it is somehow "better&qu...
by stoptothink
Wed Apr 14, 2021 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

I've asked this in several threads now, with no answer from anybody; outside of the education, how is the "experience" at an Ivy (or other "elite" U) different/better than state college? What is this "college experience" and why can't they get it at state U? Two words:...
by stoptothink
Wed Apr 14, 2021 9:40 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

I've asked this in several threads now, with no answer from anybody; outside of the education, how is the "experience" at an Ivy (or other "elite" U) different/better than state college? What is this "college experience" and why can't they get it at state U? FWIW, I di...
by stoptothink
Wed Apr 14, 2021 7:51 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 155
Views: 8803

Re: First child entering college in the fall... need some advice

Going to college is just a fine experience. If you go for the sake of education, it really does not make much difference if you go to a state college or an ivy school. I've asked this in several threads now, with no answer from anybody; outside of the education, how is the "experience" at...
by stoptothink
Wed Apr 14, 2021 7:24 am
Forum: Personal Consumer Issues
Topic: C8 Corvette?
Replies: 30
Views: 2567

Re: C8 Corvette?

hi_there wrote: Tue Apr 13, 2021 7:15 pm Boglehead website seems to be full of rich guys in their 60s. In other words, exactly the people who buy Corvettes.
My neighbor just brought home a white one a few days ago. He's early 30's with 4 kids, and no, he absolutely can not afford it. Gonna ask him for a ride soon.
by stoptothink
Tue Apr 13, 2021 4:41 pm
Forum: Investing - Theory, News & General
Topic: What's your definition of "Family Money"?
Replies: 47
Views: 5329

Re: What's your definition of "Family Money"?

When I think of the term family money, I picture people living off trust funds. Not having to work But in actuality it’s probably much less than that and likely describes myself. (Always had the safety net of my parents, college fully funded. Help with my first down payment. Then married my wife wh...
by stoptothink
Tue Apr 13, 2021 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else see drastic increase in Zillow value today?
Replies: 132
Views: 12705

Re: Anyone else see drastic increase in Zillow value today?

Mine is up ~5% since I last checked, maybe a month ago. It's actually less than my next-door neighbor just sold for last week, and I'm pretty certain I could get a little more because I have an end unit (townhome) with much nicer finishes and her unit requires some immediate maintenance. Insane, my...
by stoptothink
Tue Apr 13, 2021 10:40 am
Forum: Investing - Theory, News & General
Topic: What's your definition of "Family Money"?
Replies: 47
Views: 5329

Re: What's your definition of "Family Money"?

SmileyFace wrote: Tue Apr 13, 2021 6:40 amI have the opposite (helping upper generation who didn't plan/save).
Yeah, does it count as "family money" when you are helping your in-laws and (to a lesser extent) your parents?
by stoptothink
Tue Apr 13, 2021 10:38 am
Forum: Personal Finance (Not Investing)
Topic: How much does your employer sponsered health insurance cost you?
Replies: 43
Views: 2508

Re: How much does your employer sponsered health insurance cost you?

My wife's employer covers 100% of the premium for our family HDHP. I am separately insured by a plan with my own employer for $10/month, which gives me unlimited free access to our employer-owned medical facility (where I work) and countless other benefits. Without my separate plan I would have had ...
by stoptothink
Mon Apr 12, 2021 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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 stoptothink
Mon Apr 12, 2021 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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 stoptothink
Mon Apr 12, 2021 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking advice - College selection - Premed
Replies: 51
Views: 2967

Re: Seeking advice - College selection - Premed

For major, when I was applying, most were applying in what you would expect - Biochemistry, biology, etc. I knew I wanted to be a physician since about 10 yo and figured I would spend my life in science so I was a Philosophy major. It proved to be a good choice not only because I got to learn in de...
by stoptothink
Mon Apr 12, 2021 8:47 am
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 277
Views: 19787

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

Maybe the latest safety features provide the illusion of safety. Instead of driving into work, one could own a pogo-stick and live right next to their job. Whatever would have gone into paying for the cars can now be used toward increased housing cost. Another option is to continue to commute from ...
by stoptothink
Mon Apr 12, 2021 8:01 am
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 277
Views: 19787

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

Maybe the latest safety features provide the illusion of safety. Instead of driving into work, one could own a pogo-stick and live right next to their job. Whatever would have gone into paying for the cars can now be used toward increased housing cost. Another option is to continue to commute from ...
by stoptothink
Mon Apr 12, 2021 7:53 am
Forum: Personal Consumer Issues
Topic: Progressive Auto Insurance
Replies: 21
Views: 2064

Re: Progressive Auto Insurance

I currently have Progressive and I’m 100% satisfied. I switched to them, from GEICO, because the premiums were lower. I shop my auto insurance every couple of years, and always end up switching. I believe they all have the same business model. Sell the initial policy cheap. Then raise the rates eac...
by stoptothink
Sun Apr 11, 2021 3:58 pm
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 277
Views: 19787

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

Maybe the latest safety features provide the illusion of safety. Instead of driving into work, one could own a pogo-stick and live right next to their job. Whatever would have gone into paying for the cars can now be used toward increased housing cost. Another option is to continue to commute from ...
by stoptothink
Sun Apr 11, 2021 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Theory: The Only Four Situations Justifying Debt
Replies: 103
Views: 7016

Re: Theory: The Only Four Situations Justifying Debt

Anyone that makes this kind of comment, “I worked to pay my way through college so everyone now should too” it immediately identifies you as 1) old and 2) out of touch. So maybe stop making that comment ? It’s literally impossible for today’s college kids to work their way through. So yes, educatio...
by stoptothink
Sun Apr 11, 2021 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

Lifetime earnings for an average college graduate is $3M. HYPMS grads are definitely getting at least $5M Tell my sister (a Brown, Oxford, and NYU grad) about this $5M guarantee, she's definitely <$500k for lifetime earnings at 37 and now at a coding bootcamp because she found out the hard way that...
by stoptothink
Sun Apr 11, 2021 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

These recurring college threads make me wonder: Who reading this had a child or themselves admitted to HYPMS and didn't attend any of them? I think that is partly the point: HYPMS is likely worth it (depending on the field of study), but is little known private U or out-of-state public that you'll ...
by stoptothink
Sun Apr 11, 2021 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

+1. $100k vs $300k is chump change when you consider lifetime earnings in the mid seven figures. The college experience is much more important. I went to UCLA for undergrad (finished with zero debt and it costed my mom $0), can somebody use actual words to explain what this magical "college ex...
by stoptothink
Sun Apr 11, 2021 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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 stoptothink
Sun Apr 11, 2021 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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 stoptothink
Sun Apr 11, 2021 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

Two, they are hard to get into so a kid able to make it into Harvard can probably get a full ride at the local flagship state school. I'm obviously discounting the student experience part of things, but I'm constantly amazed by the amount of money people pay for "non name brand" private s...
by stoptothink
Sun Apr 11, 2021 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Theory: The Only Four Situations Justifying Debt
Replies: 103
Views: 7016

Re: Theory: The Only Four Situations Justifying Debt

Curious what year you did number 2? Long enough ago that a university would pay an undergraduate enough to cover tuition, housing, and expenses plus $8,000 left over. 70's maybe? Anyone that makes this kind of comment, “I worked to pay my way through college so everyone now should too” it immediate...
by stoptothink
Sun Apr 11, 2021 11:42 am
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 204
Views: 9591

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

There are two very divergent camps about college on this board. I 100% agree with the OP and I attended (for undergrad) what is currently ranked as the top public university in the country. My sister, who attended an Ivy (then Oxford, then NYU) would agree even more. Unless my kids are HYPMS bound, ...
by stoptothink
Sun Apr 11, 2021 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Theory: The Only Four Situations Justifying Debt
Replies: 103
Views: 7016

Re: Theory: The Only Four Situations Justifying Debt

2) No reason to go into debt for college education. I worked at the university. The university paid me plus giving me an in-state tuition waiver. I graduated with 8K of savings. As for graduate education, someone (employer or the college) should pay you for the graduate education. Or else, it is no...
by stoptothink
Sat Apr 10, 2021 4:00 pm
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 277
Views: 19787

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

Once high earners indulge in luxury lifestyle, it’s difficult to pull back and they’re more susceptible when their income goes away. We know this and we still maintain our lifestyle the same as when we start our professional careers. My brother, who is used to a $300k+ income (oil & gas) was la...
by stoptothink
Fri Apr 09, 2021 3:06 pm
Forum: Personal Consumer Issues
Topic: The Great Swing Set Dilemma
Replies: 56
Views: 4564

Re: The Great Swing Set Dilemma

Not sure that I'll help you out in your decision. But... I'm trying to look at this long term and not just in the immediate term of what my son can or can't do. My advice in the "long term" - this likely won't be used. Or at least it wasn't in our case. Child is currently 12, and we proba...
by stoptothink
Fri Apr 09, 2021 11:25 am
Forum: Personal Consumer Issues
Topic: Are you competitive? If so, how do you compete as you get older?
Replies: 46
Views: 2972

Re: Are you competitive? If so, how do you compete as you get older?

I like to hike and I have encountered many people of advanced age on the trail that put young people to shame. Some are doing long through hikes of trails like the Pacific Crest Trail and others are out there volunteering with trail work teams and working their butt off. If you like to run, hike, c...
by stoptothink
Fri Apr 09, 2021 9:36 am
Forum: Personal Consumer Issues
Topic: Are you competitive? If so, how do you compete as you get older?
Replies: 46
Views: 2972

Re: Are you competitive? If so, how do you compete as you get older?

Similar here, lifelong competitive athlete: football/baseball/wrestling/track growing up, football in college, then powerlifting and superbike (motorcycle) racing, then triathlons/running/cycling races as an adult. Injuries (torn biceps, ruptured achilles, two knee surgeries, and now a host of curre...
by stoptothink
Thu Apr 08, 2021 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 286
Views: 20729

Re: For those retired or FI, how much do you spend annually?

My wife and I are 59, retiring in the next 6-12 months, living in a HCOL area. For planning purposes, we made the conservative assumption that we will need what we currently make, minus what we are actively saving for retirement, minus the mortgage we recently paid off, minus support for our daught...
by stoptothink
Thu Apr 08, 2021 6:38 pm
Forum: Investing - Theory, News & General
Topic: Why 1971 has become the starting point for increasing income inequality?
Replies: 24
Views: 1591

Re: Why 1971 has become the starting point for increasing income inequality?

Supply and demand for labor. FWIW, increased "inequality" can be beneficial if the overall standard is rising. "Equality" is easy when everybody has nothing. In before the lock. How is that beneficial for everyone, from the fairness perspective? After all, the "overall stan...
by stoptothink
Thu Apr 08, 2021 11:25 am
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 286
Views: 20729

Re: How much do you spend annually in retirement?

We're retired, late 60s / early 70s, in a small town in the South, with a paid-off house. Last year we spent a total of about $53K, of which: $8K income tax (fed + state) $12K donations (charitable + political) $7K Medicare premiums $9K housing-related (utilities, property tax, insurance, maintenan...