Search found 456 matches

by davidsorensen32
Fri Jun 30, 2023 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 1169
Views: 229393

Re: Relationship mortgage discounts for moving a million assets

It doesn't. They explicitly state that. You have to move $1M + downpayment for full 0.5% off
neo_ny wrote: Fri Jun 30, 2023 8:10 am For anyone who worked with WF could you please confirm if the downpayment amount counted towards the relationship discount or not? The LO I'm in contact with is saying they don't - just want to understand if there is any wiggle room here. Thanks!
by davidsorensen32
Fri May 06, 2022 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 1169
Views: 229393

Re: Relationship mortgage discounts for moving a million assets

What rates are folks getting this month ? I'm getting 3.5% from wells fargo with $1M assets moved. 0 points.
by davidsorensen32
Fri Oct 29, 2021 6:50 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

No, moved out of the Bay Area. Got a lower paying job in a LCOL and ended up spending most of my after tax earnings. Quite un-bogleheads I know. But after a high-earning, high-spending lifestyle, I'm finding it hard to reduce my spending even though my earnings have dropped significantly. Without the markets cooperating, I would have had a flat networth over the last several years.
jarjarM wrote: Wed Oct 27, 2021 5:16 pm
Congrats! So have you change your mind on buying a house in bayarea yet? :beer
by davidsorensen32
Fri Oct 29, 2021 6:47 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

I'm glad you find it inspiring, however if you look closely, its mostly the markets propelled by the Fed $$ printing machine. I intentionally quoted the S&P indexes side by side so that the correlation is clear. I actually ended up spending most of my earnings last 4 years.
PhillyPhan wrote: Thu Oct 28, 2021 6:43 pm
Congratulations, your story is very inspiring!

I think you have a strong chance at deca-millionaire if you decide to keep at it and markets continue to run.
by davidsorensen32
Tue Oct 26, 2021 12:54 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

Hit $4M today. Age: 44. Thankful to Uncle Sam, VTSAX, good fortune and everyone here for excellent guidance. In the spirit of giving back here is my progress:

$2.2 : 2018 | S&P -4%
$2.7 : 2019 | S&P 31%
$3.2 : 2020 | S&P 18%
$4.0 : 2021 | S&P 21%

Compound interest really works :sharebeer. Stay the course everyone.
by davidsorensen32
Sat Oct 02, 2021 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on taking 2 Jobs Simultaneously.. implications for background check in the future?
Replies: 91
Views: 12710

Re: Thoughts on taking 2 Jobs Simultaneously.. implications for background check in the future?

Don’t do it. You will be investigated and fired with cause. It will be on your permanent record and will surface every time you apply for employment during background checks. I’ve personally terminated employment of one of my employees for doing this. It is extremely unethical , unprofessional and in this particular employees case , violated a key employee agreement that all employees have to sign during new hire.
by davidsorensen32
Sat Sep 25, 2021 7:33 pm
Forum: Investing - Theory, News & General
Topic: How to get UTVTX, UTVAX quotes in google sheets ?
Replies: 2
Views: 1080

How to get UTVTX, UTVAX quotes in google sheets ?

Hi Bogleheads,

I've tried to get the quotes for the UESP 529 funds using GoogleFinance but not able to. I'm able to get the prices of all other funds using GoogleFinance macros. Has anyone been able to do it ? Will appreciate it if you can share any formula or macros for google sheets.
by davidsorensen32
Mon Sep 06, 2021 2:24 pm
Forum: Personal Investments
Topic: Preparing to retire in 3 years at age 44; UPDATED
Replies: 539
Views: 66346

Re: Preparing to retire in 5 years at age 45; Need tax and withdrawal help

Don’t do it. How about instead of teaching business you join a business itself ? Or start a business (more risky)? 45 is too young to retire with most of your major life expenses ahead of you. And believe me, when trouble comes, it comes in many fronts at the same time. For example, in a 50% market meltdown year, will you be able to support your kids college tuition, and a large medical bill, and a new car (assuming it breaks down) ? Misery loves company. It’s fine to seek free therapy here and daydream about retirement like most of us do, but don’t actually do it unless you have to. Keep milking the job and once it runs out of milk, seek a new cow. Then start milking it again. That’s just my two cents. BACKGROUND I'm a business professor a...
by davidsorensen32
Thu Aug 26, 2021 11:01 am
Forum: Personal Finance (Not Investing)
Topic: What was your feeling after reaching your FI number
Replies: 167
Views: 19732

Re: What was your feeling after reaching your FI number

They don't. This FIRE thing is a huge scam. A bunch of bloggers are good making money writing pure fiction. Gullible folks are succumbing to a false sense of security. The sensible folks are daydreaming about escape while still squashing software bugs in their FANG companies.
mikejuss wrote: Wed Aug 25, 2021 8:50 pm I've never quite understood how people who are relatively young (say, in their 40s) and with small children can possibly know what their FI number is with any kind of precision. To my (limited) mind, there are just too many variables at play. For example, how do you know what your health care costs will be, and how do you know how much your children's college tuitions will be?
by davidsorensen32
Fri Jul 02, 2021 9:22 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

0.9M --> 3M networth in 6 years with $125 x 2 = $250k salary ? VTSAX only up $49 -> $109 i.e. 2.2x . OP, you must have done really well with stocks or crypto. Happy for you.
barnaclebob wrote: Thu Jul 01, 2021 3:14 pm The first number in my net worth changed for the better with today's monthy tally.

Image

About 10% is inheritance. Lucky to not have student loans and good jobs out of college in 2008/9 which allowed us to buy a house at near the bottom.

Both salaries started at 60k and have steadily increased to 125k. Child coming in 4 months...well see how that changes our savings rate.
by davidsorensen32
Thu Jun 17, 2021 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239820

Re: If your net worth is over $3 million, how did you do it?

You guys are getting it completely wrong. This thread was started in 2014 when vtsax was about 50. Today it’s about 100. So only people with portfolios > 6M in today’s $$$ should comment
by davidsorensen32
Fri Jun 04, 2021 1:40 pm
Forum: Personal Consumer Issues
Topic: Where do I go and experience the other America?
Replies: 52
Views: 6197

Re: Where do I go and experience the other America?

Flint, Michigan Inglewood, CA El Paso, TX Grafton, WV Dear Bogleheads, I have greatly benefited from your guidance in the past and request your inputs on the following. Scenario: I am an immigrant who came to this country for graduate school about a decade ago and has built a life here since then. The future is uncertain, and I do not know for a fact whether I will live here or go back if I have that choice to make. For about a decade, I have experienced only one America: the one that you find in elite schools at the coasts, tech start-ups, corporate America in major cities, and urban New England. I want to experience the other America(s) and learn from the people who live in it. With restrictions lifting gradually and remote work likely at...
by davidsorensen32
Wed Feb 24, 2021 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Private School - financially irresponsible?
Replies: 213
Views: 20902

Re: Private School - financially irresponsible?

You're overthinking it. If your kid can get into Dalton , Brearly, Trinity etc. - just go. Else consider settling for Stuyvesant (again, if your kid can get in that is). In NYC, the choice of private school is not so much in the parents'. Every one of the schools above have at least 20-30 applicants per spot. And parents who are willing to donate $10M to secure one of those spots. That's the price you pay for living in the financial hub of the biggest economy on the planet. I'm trying to decide whether it would be financially irresponsible of me to send my two children to private school in the fall (would be starting Kindergarten and plan to stay through 8th grade). The combined cost will be ~25% of net income (after taxes and after maxing ...
by davidsorensen32
Sat Feb 20, 2021 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Moving from Bay Area to LA Area - Best Value?
Replies: 114
Views: 11406

Re: Moving from Bay Area to LA Area - Best Value?

Definitely watch Selling Sunset : https://www.netflix.com/title/80223108 . They serve lots of Bay Area techie --> LA clients. My wife and I have been toying with the idea of moving out of the SF Bay Area to be in a lower COL area. Obviously Los Angeles isn't low cost of living, but it has areas that are definitely lower than our current area in the bay. We LOVE the bay area for lots of reasons, but aren't willing to spend $1.2M+ on a house, which is what it would cost here for what I would consider a "forever house" in an area with good schools. We're in Fremont, CA right now which has great schools. We both work remotely, so we can live anywhere. One issue is that I've never been to LA! My wife has and she likes it, and we plan o...
by davidsorensen32
Sun Feb 14, 2021 12:27 pm
Forum: Investing - Theory, News & General
Topic: first million [in your retirement portfolio]
Replies: 253
Views: 59174

Re: first million [in your retirement portfolio]

1) 37 2) 24 3) every cent was self-made. Had to pay lots of expenses for family members. Made lots and lots and lots of investing mistakes. Would have been $5M + by now but for these. No regrets. God is great. Thankful for what I have. 1) what age did you hit your first million in your retirement portfolio? 2) what age did you start? 3) was some of this savings inherited? self made? combination of both? Studies show that around 75% millionaires are self made; took about 2-3 decades to hit millionaire mark I understand many of us won't hit that desired #. It know it depends on your income, your savings rate, your expenses, upbringing, etc I'm asking since Bogleheads are a different breed and if such studies accurately portray the average Bog...
by davidsorensen32
Tue Dec 08, 2020 8:32 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

Thanks but for a perspective VTSAX went up 6x (17 --> 93 + dividends another 30% ) . So actually I did much worse than VTSAX. This was due to my stupid stubbornness of sticking to the Swensen model - REIT, International, Emerging market funds - all of which underperformed for years and years. C'est la vie. So I did nothing special. In fact I underperformed VTSAX - by a lot :oops:
Stinky wrote: Tue Dec 08, 2020 8:24 pm
Wow! You’ve gone from $600k to $3.2 million in just over a decade. Impressive!
by davidsorensen32
Tue Dec 08, 2020 8:05 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

2001 - started working. Got laid off after 9/11. Took 6 months to get a job. 2002-2009: Lots of spending, lots of earnings. Wasn't serious about savings. Didn't fund a 401(k) , gambled with stocks and lost $$. Had a bond heavy portfolio. All stupid mistakes that got corrected by bogleheads once I found this forum in 2009. 2008 : Got laid off again. Another 6 months to get a job. 2009: 600k - Counted my portfolio for first time ever . Then did ** complete ** makeover to David Swensen portfolio 2010:750K 2011:1M 2013:1.2M 2014:1.3M 2015:1.5M 2016:1.6M - ** complete makeover to 2 fund portfolio ** 2017:1.8M 2018:2.1M 2019:2.7M [market rose 30% ] 2020 - YTD:3.2M , Age : 43 [market rose 20% ] Started with ZERO at the age of 22. Didn't have 2 nic...
by davidsorensen32
Fri Oct 23, 2020 2:30 am
Forum: Personal Consumer Issues
Topic: Squirrel Proofing a Bird Feeder
Replies: 111
Views: 6318

Squirrel proof bird feeder

[Thread merged into here --admin LadyGeek]

Guys , I need your help - has anyone here got recommendations for a good squirrel proof bird feeder ???? Ive spent $1000 on all the best ones on amazon - with 5 star , 4.5 star reviews. I’ve tried flipper, tipper etc but the champion squirrels in my backyard are very clever and find out a way to hack through every contraption within a week. Any recommendations will be greatly appreciated
by davidsorensen32
Thu Oct 01, 2020 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: How well did you predict your income growth?
Replies: 52
Views: 5004

Re: How well did you predict your income growth?

Income growth was predictable. But net worth growth was totally unpredictable. Especially after compounding kicked in. For the older crowd here, once you were about a decade into your career, how well were you able to predict your future income, even just 5-10 years in the future? I think it's generally agreed that the #1 factor in building wealth is how much one can save, and the #1 factor in that is how much one can earn. With that said, it seems to me that predicting earnings might be even harder than predicting investment returns. Like many Bogleheads, I have my spreadsheet (security blanket), but realize that it's probably ridiculous given the uncertainty of future income. I am 34 years old now, making $150k, and I feel like my earned ...
by davidsorensen32
Fri Sep 04, 2020 10:03 pm
Forum: Personal Investments
Topic: Family member has one million in one stock , doesn't want to cash out
Replies: 314
Views: 45824

Re: My dad has 1 million in Tesla, I told him to cash out, he doesn't want too

No not surprising at all. SP500 excluded Berkshire Hathaway for 40 years !!!!!!!!!
CardinalRule wrote: Fri Sep 04, 2020 6:34 pm
7eight9 wrote: Fri Sep 04, 2020 4:56 pm This probably won't be welcome news for Tesla holders.

Tesla Didn’t Join the S&P 500, but Three Others Did
https://www.barrons.com/articles/tesla- ... 1599255574
Ouch. Down 6% after hours. Pretty surprising exclusion.
by davidsorensen32
Thu Aug 27, 2020 12:59 pm
Forum: Investing - Theory, News & General
Topic: Whose being naughty and keeping some dry powder around?
Replies: 109
Views: 10930

Re: Whose being naughty and keeping some dry powder around?

I'm bored out of my mind doing nothing. How to get excitement ?
White Coat Investor wrote: Thu Aug 27, 2020 9:01 am In my experience, beginning investors have trouble staying the course at market lows, intermediate investors have trouble staying the course at market highs, and experienced investors just stay the course. Take from that what you will.
by davidsorensen32
Thu Aug 27, 2020 12:53 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

2019 ended up increasing networth $1,500 per day of the year. Or about $1/minute between 1/1 and 12/31. Go figure !
sc9182 wrote: Thu Aug 27, 2020 11:24 am
Per: viewtopic.php?p=4747066#p4747066
davidsorensen32 made approx $250K in about 0.6 months (*presume it must be a mistake, he prolly meant 0.6 year !?) Pretty good/consistent -- Keep it going !!
by davidsorensen32
Thu Aug 27, 2020 12:50 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

No inheritance. No Tesla. No Bitcoin. No FANG. No FAANMG. No 100/0 or 90/10 AA. No leveraged ETFs. No HEDGEFUNDIE's portfolio. No MD/Surgeon income. No FANG RSUs. No desire or attempt to FIRE. Not pulling in all-nighters building the next world shattering unicorn. Nothing exotic at all. Simple VTSAX + contributions in 60/40. I'm too lazy to even re-balance. Its quite boring actually. I think I beat everyone in having the most boring and laziest portfolio of all times. I have noted my contributions elsewhere : https://www.bogleheads.org/forum/viewtopic.php?p=5443953#p5443953 . I'm just an average Joe. Ok perhaps a tad tiny bit above average (just to massage my ego). So far this year my networth has increased $1,000 every day from 1/1 through...
by davidsorensen32
Wed Aug 26, 2020 5:59 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 3617
Views: 568564

Re: Post your Financial Milestone Announcements Here

So far this year my networth has increased $1,000 every day from 1/1 through today. How’s that for a milestone ?
by davidsorensen32
Wed Aug 19, 2020 10:27 pm
Forum: Investing - Theory, News & General
Topic: The 0.5% Rule (SWR) [Safe Withdrawal Rate]
Replies: 419
Views: 32543

Re: The 0.5% Rule (SWR)

HomerJ wrote: Wed Aug 19, 2020 9:56 am Because you can never trust him again. Zero respect. He is hurting people at this point.
+1000000000
by davidsorensen32
Wed Aug 19, 2020 10:25 pm
Forum: Investing - Theory, News & General
Topic: Advice to a Millennial about nest egg "Critical Mass"
Replies: 150
Views: 21264

Re: Advice to a Millennial about nest egg "Critical Mass"

Today's millennial couple can easily save $74,100 per annum if the couple just maxes out the various savings opportunities

* 2 x 401(k) = $39,000
* 2 x 401(k) matches = $10,000 (assuming paltry 5% match)
* 2 x Backdoor ROTH = $12,000
* HSA = $7,100
* 529 = $6,000 (@$500 per month)

Total = ~$74,100

[Gravy : 2 * ESPPs = $25,000 *2 = $50,000 ]

Total including ESPPs = $124,000 per annum

Assuming 0% growth and saving for 20 years, "critical mass" will be $1.5M. Assume 5-7% growth and you're talking real money $3-$5M. Including any gravy like ESPP or pensions you'll be at $5M - $7M.

Doesn't take rocket science. simply maths.
by davidsorensen32
Tue Aug 18, 2020 7:14 pm
Forum: Investing - Theory, News & General
Topic: The 0.5% Rule (SWR) [Safe Withdrawal Rate]
Replies: 419
Views: 32543

Re: The 0.5% Rule (SWR)

Oh no! not financial samurai again. He is an unemployed dude touting bad advice to hordes of unemployed to make money from Google Ads. His blogs are perfectly content free. I'm amazed we even have a thread on him. We're bogleheads not National Review.
by davidsorensen32
Wed Aug 12, 2020 11:58 am
Forum: Investing - Theory, News & General
Topic: A different approach to asset allocation
Replies: 1539
Views: 897714

Re: A different approach to asset allocation

Earnings are 100% gamed by all S&P 500 companies. GAAP is highly misleading (even Buffett says this).

Dividends can be gone in one fell swoop. Its completely based on whim of management. Lots and lots and lots of tremendously profitable companies with massive growth don't pay out a cent in dividends.

IMO, dividends and earnings are pretty poor proxies. YMMV
grayfox wrote: Fri May 29, 2020 7:10 am
market timer wrote: Sat May 23, 2020 8:47 am
After I read that about Warren Buffet c. 2005, I started doing he same thing, i.e. tracking the earnings and dividends produced. Dividends is somewhat easier to do because you just have to count the cash received. Plus you can just add dividends received to interest received to get total income from investments.
by davidsorensen32
Wed Aug 05, 2020 1:30 am
Forum: Investing - Theory, News & General
Topic: What happens if you run out of money in retirement?
Replies: 175
Views: 18480

Re: What happens if you run out of money in retirement?

You'll join the ranks of the 1M homeless in USA (and even more if you're in Asia or the 3rd world). Ask the homeless in the streets of silicon valley - they all have similar stories to tell.
matti wrote: Tue Aug 04, 2020 11:24 am Hello.

This is a rather simple question (maybe even a silly one?), but I've always wondered about it. Let's say you're 85yo and you simply drained your retirement accounts dry and SS isn't enough to live on. What would you do? Move in with a son/daughter (if possible), get a job, something else?

I'm 41yo and a ways out from retirement, but I always wonder what I'd do if I ran out of money when I'm 85yo (or a similar age) and still somewhat healthy.

Thanks.
by davidsorensen32
Wed Jul 15, 2020 1:03 am
Forum: Personal Consumer Issues
Topic: Coffee storage
Replies: 42
Views: 4718

Re: Coffee storage

where do you purchase the green beans from ?
batrleby wrote: Tue Jul 14, 2020 7:20 pm I recommend buying a Poppery II popcorn popper on eBay and using that to roast green coffee beans at home.
Inexpensive world class coffees are 6-7 dollars a pound and home-roasted is always fresh, and smells heavenly.
Only takes 8-12 minutes to roast enough for a couple of days. You’ll would have to buy a grinder too, though.
by davidsorensen32
Sun Jul 12, 2020 1:06 pm
Forum: Personal Consumer Issues
Topic: Coffee storage
Replies: 42
Views: 4718

Coffee storage

Coffee gurus, whats the best way to store whole coffee beans after opening the pack store-bought pack ? I've tried very many appliances (bodum containers), layers of ziplocs, tight wrapping but nothing seems to stop the inevitable massive loss of smell and taste within just 1-2 days of opening a packet bought from the store. Any ideas ? Will greatly appreciate.
by davidsorensen32
Thu May 28, 2020 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding keeping-up-with-the-joneses w.r.t. private schools
Replies: 320
Views: 24871

Re: Avoiding keeping-up-with-the-joneses w.r.t. private schools

Bay Area resident and private school dad here so speaking from personal experience. Challenger and Stafford are hugely popular among Asian immigrants but I would advice you to stay away from them. I toured them extensively (multiple branches, multiple times) a few years ago when we were considering school for our kid. What did it for us is we happened to know many of the teachers at these schools - who also happen to be from the same heavily Asian diaspora - who had attended some of the worst quality educational institutions in their native countries with poor majors and extremely poor educational records - and yet got hired as teachers at Challenger and Startford. As the saying goes when you pay peanuts you get monkeys. The schools are run...
by davidsorensen32
Fri May 22, 2020 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 46258

Re: The axe falls and I am prepared. What's next?

KF, sorry to hear about this. It sounds like you were employed with [company name deleted by moderator Flyer24] . They announced massive today with similar severance terms. Firstly, I would try to look for work. Part time, volunteer, any work in the area where you have experience. If nothing else, start a blog, start a youtube channel etc. Keep your creative / technical juices flowing. Start a project in github to showcase your experience and creativity. Next, take care of your health. Third, and most importantly, you mentioned that you were from Vietnam (or some south east asia country I don't remember) . Is it an option for you to go to vietnam and spend the years between now and 62 ? This is to slow down your burn rate and come back to t...
by davidsorensen32
Wed May 13, 2020 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should you include home equity in Net Worth?
Replies: 160
Views: 11912

Re: Should you include home equity in Net Worth?

KlangFool wrote: Wed May 13, 2020 12:21 pm
In any case, we would see the financial destruction of "house poor" people soon enough. 30+ million unemployed and counting.

KlangFool
+1 . Fed keeps on bailing out so there are no repercussions . Wonder how long will Fed keep it up
by davidsorensen32
Mon Mar 09, 2020 12:08 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4683308

Re: U.S. stocks in free fall

What is happening to the early retirement crowd ? Anyone keeping tabs ?
by davidsorensen32
Mon Dec 30, 2019 9:17 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 963
Views: 103949

Re: Talk me out of buying a Tesla Model 3

With all the options you're looking at $60k+ for a fully loaded Tesla 3. You can get a certified pre-owned Porsche for that much. Doesn't make any sense to spend money on Tesla. [UPDATE 10/31 - I bought the car. It's a done deal. FWIW, compromised and went with the non-Performance Long Range AWD model. Cost was about ~$13K less than if I'd ordered the full blown Performance version. I have zero regrets. -OP] Fellow Bogleheads, I made the mistake of test driving a Tesla Model 3 Performance this weekend. The car blew me away and now I want one. I know that to most on this forum, anything above and beyond a Corolla or a Prius is a waste of money so I'll make an appeal to those like me who like fast cars and who might be able to sympathize... T...
by davidsorensen32
Mon Dec 30, 2019 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 913
Views: 239820

Re: If your net worth is over $3 million, how did you do it?

My story is really boring. 2 x W2 incomes in silicon valley - no FAANG, no stock options, no IPO, no house. Just investing in boring VTSAX both in 401(k), Roth and after-tax. New cars, private school, vacation, supporting extended family - we don't hold back and spend a lot every year. But the market gods seem to be bountiful. Hit $3M at 42 this year. Best wishes to everyone for another 30%+ return in 2020. Peace out. :sharebeer
by davidsorensen32
Thu Dec 26, 2019 1:10 am
Forum: Personal Finance (Not Investing)
Topic: Job offer at FAANG for $350k - Declining Offer
Replies: 161
Views: 23390

Re: Job offer at FAANG for $350k

Ask yourself - How long can you last at this new job ? I personally know 17 people who joined this particular FAANG ( there is just one company that structures bonus like what you mentioned ) and quit within 1-2 years. Constant re-orgs, brutal micromanagement, predatory bosses, corrosive work culture are rampant. It is so bad that there have been NYTime articles on this FAANG company's infamous work culture. The company thrives on churn and a darwinian Hunger Games like annual evaluation process. The company knows this and deliberately promotes this kind of work environment. Your RSUs will be heavily backend loaded which means you will have to survive for 3 years to maximize payout. A single digit % of the company's intakes last 3 years. Ma...
by davidsorensen32
Wed Nov 20, 2019 11:22 pm
Forum: Personal Finance (Not Investing)
Topic: Auto insurance company pays less than 1/3rd of windshield damage
Replies: 18
Views: 1535

Auto insurance company pays less than 1/3rd of windshield damage

Fellow Bogleheads, seeking your wisdom in a very difficult situation. I'm the common man with an automobile and comprehensive auto insurance. Been with my current insurance company for 10years+. Recently my windshield got cracked from flying debris while I was driving to work - necessitating a windshield replacement. The car is a recent model and the windshield has a ton of electronics/sensors/camera/heads up display - requiring sophisticated electronics and extensive recalibration. I filed for a claim with the insurance company and they immediately asked me to go to their contracted glass shop. But after reading widespread complaints in online forums about the incompetency of this particular outfit when it came to repairing sophisticated w...
by davidsorensen32
Wed Sep 18, 2019 10:54 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 36221
Views: 4683308

Re: U.S. stocks in free fall

Excellent decision. I sold mine 5+ years ago, after holding for a decade during which time I traveled extensively for business to many of these countries and realized that their economic systems were not built to benefit the investor.

No tilt, no small cap, no REIT, no mid-cap, just VTSAX does the job.
Bluce wrote: Fri Sep 06, 2019 9:30 am I never thought I would do this, but I sold the last of my VXUS yesterday. After holding int'l funds for probably 25 years, I now have no devoted int'l funds and have sided with Jack Bogle on this.

Because we cannot see what the future brings, there is no hard-core evidence for either argument. I've thought about doing this for a long time, but only the rear view mirror will tell me if it was the right choice or not.
by davidsorensen32
Fri Sep 13, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: How many years for each $250k of net worth?
Replies: 36
Views: 7409

Re: How many years for each $250k of net worth?

Took me 4 years in early 2000's to accumulate $250K. This year 0.6 months. YMMV.
bigtex wrote: Thu Sep 12, 2019 3:33 pm Is there a way to rough estimate how many years it takes to reach each $250k of net worth. Surely it gets shorter for each new set of 250 because of compound interest (snowball effect). It took me 7 years of full time work to hit the first 250k. Can I estimate like 5 years for the next $250k, and three years after that? Or is it all just at the mercy of the market returns? Thanks!
by davidsorensen32
Thu Sep 12, 2019 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area budget for $350k family income
Replies: 94
Views: 11365

Re: Bay Area budget for $350k family income

I am amazed at how many people get impressed by reading either completely obvious or completely inaccurate stuff - which this blog regurgitates regularly. Here are some real numbers Savings: 2x 401(k) = $38,000 2 x 401(k) match = $12,000 (probably more, just being conservative) 2 x backdoor Roth = $12,000 HSA = $7,000 520 ($500 per month) = $6,000 Total savings = $75,000 per year. I know at least 40 people in the Bay Area who are saving much more - all on a combined salary of $350,000 or less. It is sad that people read completely inaccurate stuff written by random strangers on the internet and think it is true. It is not true. I don’t know what kind of “vetting” the “thousands of people” did but it only took me a few minutes to find some g...
by davidsorensen32
Wed Sep 11, 2019 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 4510

Re: [Yet Another] How much house can I afford ?

Wannaretireearly wrote: Wed Sep 11, 2019 10:15 am - take your time to find a great contractor
How do you find a great contractor ?
by davidsorensen32
Wed Sep 11, 2019 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 4510

Re: [Yet Another] How much house can I afford ?

rich126 wrote: Wed Sep 11, 2019 10:02 am CA is a whole different world and sometimes if you don't just bite the bullet and buy, the opportunity just seems to get further and further from your reach.
I've been chasing it for 20 years now. Some years ago, when my networth was $600K, Palo Alto houses were going for $1.2M. Now the same Palo Alto houses have gone to $3.0M . Maybe a couple more good years and networth will finally catchup with the house price. It's been a fun and interesting race for sure.
by davidsorensen32
Wed Sep 11, 2019 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 4510

Re: [Yet Another] How much house can I afford ?

unclescrooge wrote: Wed Sep 11, 2019 9:52 am
If you go this route, use a reputed design and build firm. They will tell you what's reasonable within your budget.

Also check out Blu homes.
What are some of the reputed design and build firms in the Bay Area ?
by davidsorensen32
Wed Sep 11, 2019 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Relationship mortgage discounts for moving a million assets
Replies: 1169
Views: 229393

Re: Relationship mortgage discounts for moving a million assets

antmn wrote: Wed Sep 11, 2019 11:11 am HSBC is also worth trying. Are these rates for a 5/1ARM? Curious who you ended up with.
[ quote fixed by admin LadyGeek]

7/1
by davidsorensen32
Tue Sep 10, 2019 9:47 pm
Forum: Investing - Theory, News & General
Topic: Rich people are hoarding cash
Replies: 233
Views: 38890

Re: Rich people are hoarding cash

I don't understand this. Suppose all those rich people invested all of their hoarded cash in the market tomorrow. Guess what ? they will be receiving securities, but the sellers of those securities will be getting all of that cash. So, the cash outside of the market will be constant. It will simply change hands from one set of rich people to another. Why is this news ? FT Report Rich people are hoarding cash, and wealth managers are getting frustrated ....Yet perception of risk is an emotional thing. If people feel comfortable paying extra money in the form of negative rates for the known loss they will suffer on cash versus the unknown and potentially larger loss on riskier assets, it can be hard for wealth managers to talk them out of it....
by davidsorensen32
Tue Sep 10, 2019 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: BofA ShopSafe going away
Replies: 116
Views: 13437

Re: BofA ShopSafe going away

This truly sucks. Can't we write a letter - lets store it on google drive and share it with BofA or send emails to their head honchos ?
by davidsorensen32
Tue Sep 10, 2019 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: [Yet Another] How much house can I afford ?
Replies: 28
Views: 4510

Re: [Yet Another] How much house can I afford ?

Fixer upper is an excellent suggestion thanks ! As it so happens there is one available and I am pondering whether to go after it. But I am a complete novice when it comes to building houses. And from what I understand general contractors in this area love to take gullible clients for a nice long hike coupled with very poor workmanship. Once they have you, they will squeeze the last drop out of you. How much will it cost to build a basic 3/2 SF Bay Area house (no marbles or fancy stuff) ? I have no idea. :confused . How long will it take ? How is the permitting process ? Will bank give me mortgage for house repairs ? I'm guessing repairs on the unit I'm eyeing will run into $500,000+ (there is very little of the fixer upper thats habitable ...