Search found 16 matches

by jms7
Thu Jan 22, 2015 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you hit $100,000?
Replies: 136
Views: 27115

Re: What age did you hit $100,000?

A week ago at 30. (Not sure if this is correct, but it counts both me and my wife's retirement accounts and student loan debt.) I started keeping track in September 2012. We were -$225,000; $275,000 in law school/undergrad debt + $50,000 in retirement accounts. Now its $50,000 in student loans + $16...
by jms7
Fri Nov 14, 2014 11:15 am
Forum: Personal Consumer Issues
Topic: Dealing with pressure for "social donations" at work
Replies: 181
Views: 22182

Re: Dealing with pressure for "social donations" at work

The "don't give" and "find a new job" responses seem awfully naive. Does this suck? Yes. But so do a lot of other things about work. You can choose not to give, but you'll wear that choice like a scarlet letter. I wouldn't recommend it unless, like many here seem to suggest, you ...
by jms7
Fri Oct 17, 2014 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: When can I afford to buy a home?
Replies: 21
Views: 3564

Re: When can I afford to buy a home?

Don't take this the wrong way, but you're not going to be able to buy a home anytime soon unless you contribute less to your retirement accounts or make more money. You obviously have a good handle on your expenses; putting $23,000 into your 401k and IRA on a $50,000 salary is very impressive. But a...
by jms7
Thu Aug 14, 2014 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loans
Replies: 32
Views: 4486

Re: Student Loans

You seem to have wildly unrealistic expectations of what a career as a lawyer entails--there is perhaps no greater occupation where the fantasy fails to meet up with the reality. This is 100% true. In a sense, it's probably true for most jobs (that's why they call it work!), but most jobs don't req...
by jms7
Tue Aug 12, 2014 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loans
Replies: 32
Views: 4486

Re: Student Loans

I'm a lawyer. 2009 grad from a top 10 law school. So is my wife. We graduated with about $300,000 in debt collectively. This was before my boglehead days, but neither of us lived lavishly, we both received decent but not substantial scholarships, and we both worked at high paying big law firms in th...
by jms7
Tue Aug 05, 2014 5:03 pm
Forum: Personal Investments
Topic: Student Loans (100k+ with Sallie Mae) & Retirement
Replies: 16
Views: 3174

Re: Student Loans (100k+ with Sallie Mae) & Retirement

You've got a good plan and are getting good advice. Pay the smaller 9.25% loan, then attack the big 9.25% loan. Contribute up to match, but not more, while doing so. Once the 9.25% loans are done, I'd split the freed up money between loans and retirement savings. The rates on your remaining loans ar...
by jms7
Mon Jun 16, 2014 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Student Loans - Take More than Needed for this Year?
Replies: 9
Views: 882

Re: Student Loans - Take More than Needed?

No. Take out only what you need. The interest rate jumps you've cited are not worth taking on $22,000 in unnecessary debt.
by jms7
Mon Jun 16, 2014 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Student Loan Strategy - Future Public Service Job
Replies: 14
Views: 1819

Re: Student Loan Strategy - Future Public Service Job

Tough decision. Sounds like you're likely to be invited to and join the foreign service. What you should really think about (and I say this recognizing there's no way to know for sure) is if you're likely to stay in the foreign service for ten years. If you are, then it's a no-brainer to stop the ag...
by jms7
Fri Jun 13, 2014 11:19 am
Forum: Investing - Theory, News & General
Topic: Gawker Article Linking to Bogleheads
Replies: 3
Views: 923

Gawker Article Linking to Bogleheads

Based on my sense of the demographics of the board, I'll bet most here don't read Gawker. Nonetheless, I thought the board might be interested in the link below, in which Hamilton Nolan sums up the financial industry's opposition to proposed DOL rules that would make more investment advisors fiducia...
by jms7
Wed May 28, 2014 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 49
Views: 6988

Re: Pay off huge student loan vs Investing

At 2%, I vote for paying the loan off on term. If your rates were higher, my answer would be different. It sounds like you're maxing your tax-advantaged space and still have a lot left over ($50,000/quarter). The key is ensuring that the left overs are put to good use rather than wasted on things th...
by jms7
Tue May 27, 2014 9:22 pm
Forum: Personal Investments
Topic: Need Advice on Where to Put Money
Replies: 12
Views: 1917

Re: Need Advice on Where to Put Money

Given that you only plan to live in the house 3-4 years, plan to put less than 20% down, and that the rate on the loans is 5.5%, I'd keep renting and pay the loans off now. You could do that tomorrow and have more than 20% saved by the time you're (possibly) actually ready to settle down three to fo...
by jms7
Wed May 14, 2014 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2507
Views: 575756

Re: Share your networth progression

2006: Graduated college with about $18,000 in debt. No assets. 2009: Graduated law school with about $150,000 in law school debt; approximately $168,000 in total. No assets, but started saving in 401k. Started paying law school loans according to 10 year repayment plan (approximately $2,000 per mont...
by jms7
Tue May 13, 2014 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Start an Investment Company
Replies: 33
Views: 3195

Re: Start an Investment Company

Some real advice: Go read Michael Lewis's "The Big Short" which showed how Michael Burry started his own hedge fund investment company. I'm sure you can do something like that, too. You just have to get people to send you money somehow. You can see how Burry and other like him did it and ...
by jms7
Sat May 10, 2014 4:59 pm
Forum: Personal Investments
Topic: First post/Check up/Sanity check
Replies: 6
Views: 988

Re: First post/Check up/Sanity check

Thanks. Anyone else have ideas?
by jms7
Fri May 09, 2014 10:20 pm
Forum: Personal Investments
Topic: First post/Check up/Sanity check
Replies: 6
Views: 988

Re: First post/Check up/Sanity check

Darrel, beat you to it: we've got a monthly spreadsheet on the issue. Thanks for the feedback, any thoughts on next steps?
by jms7
Fri May 09, 2014 9:37 pm
Forum: Personal Investments
Topic: First post/Check up/Sanity check
Replies: 6
Views: 988

First post/Check up/Sanity check

Long time (two year plus) lurker. Quite obviously, I appreciate the insight of the forum. This isn't an investment advice post, but more of a general check-in. Wife and I graduated law school in 2009 with total debt of about $300,000 (we both had loans for more or less all of it; not sure on the exa...