Search found 738 matches

by 2tall4economy
Sun Jun 05, 2022 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Best 2% Cashback No Fee Credit Card (not travel)
Replies: 243
Views: 30320

Re: Best 2% Cashback No Fee Credit Card (not travel)

Fidelity

But Bank of Americas extra cash plan can be good if you already use them.

If not, fidelity.
by 2tall4economy
Sun Jun 05, 2022 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Why credit cards with points?
Replies: 103
Views: 11599

Re: Why credit cards with points?

Did it for years when I lived overseas. Had 45 credit cards simultaneously at one point. If you intended to purchase business class flights to Asia on a regular basis anyway with cash, then you can find significant value in points. For people that don’t fly around the world long haul in business class for cash multiple times per year (ie pretty much all of humanity) you’ll win financially with a 2%+ cash back card and you also don’t need to deal with the hassles of scheduling around the airline. And things other than airline points are even harder to find savings wins. Don’t kid yourself - the credit card and travel companies that do this know exactly how the game is played and structure accordingly. The market was inefficient a decade or t...
by 2tall4economy
Sun Mar 27, 2022 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Moved from NY to FL on Jan 1st but 1st paycheck still has NY taxes withheld
Replies: 14
Views: 1458

Re: Moved from NY to FL on Jan 1st but 1st paycheck still has NY taxes withheld

The only way you’re getting it back is filing a my state return.

And you have to anyway since they have record of a payment that came from you. Unless they’re stupid or lazy (both are real possibilities) they’ll realize you paid a little and stopped and will start chasing you for more money.

Did the same thing in my earlier days.
by 2tall4economy
Fri Mar 25, 2022 1:05 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford 5M house with ocean view?
Replies: 480
Views: 52034

Re: Can we afford 5M house with ocean view?

No. I make about double your income have double your savings and I feel my absoltue comfortable max is $4.0m
by 2tall4economy
Sun Feb 13, 2022 1:56 pm
Forum: Personal Consumer Issues
Topic: Need recommendation for new washing machine
Replies: 67
Views: 8903

Re: Need recommendation for new washing machine

Consumer reports is where I go for all my appliance picks.

Just bought an lg they recommended last week.

Found model on consumer reports, Bought through Home Depot. They hauled old on away. You can pay to have them hook it up but it’s so easy it’s not worth it.
by 2tall4economy
Sun Feb 06, 2022 12:17 am
Forum: Personal Consumer Issues
Topic: I hate my car. When will car prices and inventory normalize?
Replies: 168
Views: 21882

Re: I hate my car. When will car prices and inventory normalize?

I just sold a rareish car and got about 20% more than I paid a year ago. So I’d say still going strong.
by 2tall4economy
Sun Jan 23, 2022 11:14 am
Forum: Personal Consumer Issues
Topic: Do people still wear ties and belts?
Replies: 222
Views: 18759

Re: Do people still wear ties and belts?

Through 2016 I worked at a company that required formal dress once you got to manager level or above. In 2012 or so they allowed you to wear jeans on fridays as their concession to work life balance. Ties were sort of optional and sort of not. The more senior you were the less optional. I hated ties so I adopted pocket squares instead. From 2016 to 2019 I worked at a company that required full suit and tie for leadership. For most we would take the tie off during the day and put it on for meetings with the ceo or external facing meetings when they came up. My boss however told me Multiple times I really should be wearing my tie at all times. Started working in 2019 for a company where dress code was jeans and shirts. Button down shirts tran...
by 2tall4economy
Sun Jan 09, 2022 12:36 am
Forum: Personal Finance (Not Investing)
Topic: Considering rental home
Replies: 34
Views: 3127

Re: Considering rental home

Depends entirely on your market and acquisition price.

You can certainly earn good money renting in some markets.

And you can certainly lose plenty of money in others. You’ll need to know which you are in before you start.

I’ve found 1% is about as low as you want to go and depending on taxes and interest rates going even higher may be the right cut off.
by 2tall4economy
Sun Jan 09, 2022 12:32 am
Forum: Personal Finance (Not Investing)
Topic: Guaranteed Wealth
Replies: 36
Views: 4971

Re: Guaranteed Wealth

In terms of being successful financially, I feel like the best way to do that is by having a job with high barriers to entry that is in demand and then investing those funds in a boglehead fashion. For instance, there are a limited number of medical licenses given in the US, so if you have the brains and means to become a physician it basically guarantees you a very comfortable annuity stream that you can then use to invest. So thinking from this premise, the best way to set my kids up for success is to give them the best possible education so that they will potentially have many opportunities to live a comfortable life and provide a good setup for their own kids. I'm surprised that more emphasis isn't put on funding 529's in this forum (e...
by 2tall4economy
Thu Jan 06, 2022 12:23 am
Forum: Investing - Theory, News & General
Topic: Ultra HNW on this forum?
Replies: 223
Views: 30483

Re: Ultra HNW on this forum?

Slow and steady generally isn’t going to get you to uhnw. It’s usually huge liquidity events or extremely highly paid people who love what they are doing and live large (celebs and ceos).

Slow and steady people tend to get to the “what’s the point” stage and exit their income stream before they cross the threshold.
by 2tall4economy
Sun Jan 02, 2022 7:43 pm
Forum: Personal Investments
Topic: Does total assets determine asset allocation %?
Replies: 4
Views: 674

Re: Does total assets determine asset allocation %?

Not saying you should match it, but the data on what people actually do is available. I wrote a post about it a little while back.

Generally the allocation between asset classes doesn’t change too much in most categories.

The biggest change as you go from a few million to tens of millions in assets is a lower percentage in personal holdings (ie personal home equity and art and such) and a lower percentage in private business assets (ie personally owned business assets, rental properties, business partnerships) and an equal and offsetting increase in private equity type investments.
by 2tall4economy
Sun Jan 02, 2022 3:19 am
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

Quick update. after talking to lots and lots of people and eking out tiny additional fragments of insight I’ve narrowed it down to winnetka and lake forest (vs hinsdale as the base case). Lake forest because lake bluff is just too darn far away but it allows for lake county, and winnekta because it’s supposedly a much easier place to sell your house if you want to move and has nicer downtown areas vs glencoe. Kenilworth is apparently great too but it’s so restrictive on building there a lot of the homes are very outdated and have unappealing exteriors (ymmv). Highland park we’re not looking at because we can’t point to why we would go that far north but not just going to lake forest for the lower taxes and nicer area and Evanston we’re not ...
by 2tall4economy
Sun Dec 05, 2021 10:57 am
Forum: Personal Finance (Not Investing)
Topic: At what net worth would you to be comfortable purchasing $3MM house? (given certain assumptions)
Replies: 230
Views: 20833

Re: At what net worth would you to be comfortable purchasing $3MM house? (given certain assumptions)

pizzy wrote: Sat Dec 04, 2021 12:56 pm
2tall4economy wrote: Sat Dec 04, 2021 12:46 pm
pizzy wrote: Sat Dec 04, 2021 12:44 pm
2tall4economy wrote: Sat Dec 04, 2021 12:37 pm or guns
:shock:
https://www.businessinsider.com/range-r ... uv-2014-11

I don't judge, I just observe. I don't own any jewelry either. One's art is another's firearm I guess.
I just meant I didn't realize people count guns in their net worth.
Ah, yes I can see that. :)

My dad owned $80k of guns and my mom $40k of jewelry growing up and I had some minimally depreciating sports cars, so I have always had those three things as my go to for “expensive stuff that generally holds it’s value but isn’t an investment”
by 2tall4economy
Sun Dec 05, 2021 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Very high earners ($400k+), how did you do it?
Replies: 563
Views: 63894

Re: Very high earners ($400k+), how did you do it?

That much is really only a handful of professions: C suite execs of Fortune 500 / s&p 500 companies Partners at Wall Street and bankruptcy lawyer firms. Successful entertainers and business owners (including private practices). You’ll note pretty much nobody paid majority by salary (ie doctors) makes the list. And even that dries up fast. And that leaves the top earners in the world: Very successful Wall Street sheisters paid on assets under management CEOs at very large very successful companies (public and private) Very successful business owners and entertainers. Almost everyone I know in VC, PE, and investment banking makes more than $500K. I don't think I'd classify them under the first category in your second list, though you mig...
by 2tall4economy
Sat Dec 04, 2021 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: At what net worth would you to be comfortable purchasing $3MM house? (given certain assumptions)
Replies: 230
Views: 20833

Re: At what net worth would you to be comfortable purchasing $3MM house? (given certain assumptions)

pizzy wrote: Sat Dec 04, 2021 12:44 pm
2tall4economy wrote: Sat Dec 04, 2021 12:37 pm or guns
:shock:
https://www.businessinsider.com/range-r ... uv-2014-11

I don't judge, I just observe. I don't own any jewelry either. One's art is another's firearm I guess.
by 2tall4economy
Sat Dec 04, 2021 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: At what net worth would you to be comfortable purchasing $3MM house? (given certain assumptions)
Replies: 230
Views: 20833

Re: At what net worth would you to be comfortable purchasing $3MM house? (given certain assumptions)

I have an informal survey that I'm hoping will help me figure out appropriate saving targets.. Given the following assumptions : - 45 years old - 22 years of high earnings - Moderate desire to quit current job, with a likelihood of never returning to anything lucrative - No pension or employer provided healthcare (after quitting) - Requirement to live in VHCOL area to be close to family - Desire to purchase a nice house on a large lot. Assume ~3-4 bedroom, 2.5 bath, 2200 sq ft. - Excluding potential housing and healthcare costs for 2 people, other expenses/travel/hobbies aren't expected to exceed $60k/year total - Net worth is accessible and invested sensibly for long term growth (60-70% in low cost equity index funds) What is the lowest t...
by 2tall4economy
Sat Dec 04, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone Else Scratching Their Heads Over $3M House Post?
Replies: 43
Views: 3805

Re: Anyone Else Scratching Their Heads Over $3M House Post?

A topic I’ve done a lot of research on for kicks and giggles. The vast majority of jumbo loan lenders (basically all of them except the “wealth” branch of the “top ten” major banks) max out at $3m (loan size not purchase price) though the range is from $2m to $4m. Also, jumbo lenders will lend on 43% of gross. So if you have no debt (and certainly depending on property taxes), you can easily get financed for a $3M purchase price on a gross income of $441,098 (assuming 2% prop tax -- many places are much lower). $441k is very much in the zone of 1% of household income (really more like 1.5% or so). There are 1.5M 1% income households in the USA and 3M 2% households in the USA. So, you should expect somewhere around 2M households in the US ca...
by 2tall4economy
Sat Dec 04, 2021 11:12 am
Forum: Personal Investments
Topic: 100% Stock Portfolio
Replies: 68
Views: 7840

Re: 100% Stock Portfolio

I was 100% equities for decades. My allocation for a lot of that time was 100% vtsax
by 2tall4economy
Sat Dec 04, 2021 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Very high earners ($400k+), how did you do it?
Replies: 563
Views: 63894

Re: Very high earners ($400k+), how did you do it?

Pretty much all executives in all Fortune 500s Some doctors (primarily surgeons) Some layers (particularly business and litigation) Some non-management sales and IT people (in Fortune 500) Some business owners You’re quoting $400k which youre probably getting from “1%” articles. Those are agi, not gross wages. You’re really asking $500k gross. Having recently been appointed to the c suite of an s&p500, and having an unhealthy obsession with wealth data and information, I can say from experience that being in the 1% isn’t all that different from being upper middle class. You’re getting up for work every day, you have one or two nice toys, you still can’t afford a new Italian sports car and have to buy used, you’re still flying economy cl...
by 2tall4economy
Mon Nov 29, 2021 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

Thanks all for great feedback so far. Lots to consider.

For those who have asked up topic, if still curious:

1) 3 kids, aged 9, 6, 2.

2) Not particularly religious though we were raised very religious (perhaps why we aren't now).

3) I went to Michigan State for undergrad. Comparisons to Ann Arbor are irresistibly negative! :)

We did see one home which we liked the exterior and location but it would need to be gutted and redone inside and a garage added... looking into what that takes now...

Also might adjust price points and look off-lake to see if there is anything else that piques our fancy.
by 2tall4economy
Mon Nov 29, 2021 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

I previously lived on the North Shore. If work took me back to Chicago that’s where I’d look to live again, especially with school aged kids. I thought Kellerreiss and MHN did a good job of capturing the realities good and bad of living on the North Shore. Instead of starting with focusing on specific towns / villages, I’d approach the search slightly differently: 1. Decide on Lake vs Cook county. Good reasons to prefer Lake were covered earlier. I prefer the Cook part of the North Shore in Cook due to better proximity to the city and Evanston, and because I prefer the aesthetic of the neighborhoods there. 2. Then if you choose Lake I’d focus on high school districts. If you choose Cook County you’ll be in the New Trier district. Even if y...
by 2tall4economy
Mon Nov 29, 2021 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

folkher0 wrote: Mon Nov 29, 2021 12:55 pm
vinhodoporto wrote: Mon Nov 29, 2021 5:09 am One thing to add regarding exotic cars. Most of the houses don’t have more than a two car garage. In many of the vintage houses the garage is detached in what was formerly a carriage house. Given the challenges of getting things like an additional garage approved by the various local zoning boards, you may need to consider housing your vehicles elsewhere except when you’re using them. Might be a good way to meet some fellow enthusiasts as well.
This house might work for OP:

https://sillyamerica.com/blog/ferris-bu ... ic-garage/
I've heard Highland Park is a bit too gritty for a Ferrari 250

(just kidding!)
by 2tall4economy
Sun Nov 28, 2021 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

Kookaburra wrote: Sun Nov 28, 2021 7:21 pm I’d move to 671 Lincoln Avenue in Winnetka. It has a rich and heart-warming history.
Kid friendly too!
by 2tall4economy
Sun Nov 28, 2021 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

cbs2002 wrote: Sun Nov 28, 2021 1:59 pm Per wikipedia Hinsdale's median HHI is $165K - it drips money and in my experience people are not shy about showing it in the form of cars, so I'm not sure what you are encountering. If anything, the north shore is going to be less showy and your car collection may stick out even more. Some people don't enjoy detailed/choreographed social events. And I avoid talking about anything that can be connected to my own finances with anyone but the closest of friends, partially for the reasons you mention.
Issue isn't Hinsdale; we feel very normal there. It's the fact Hinsdale is a tiny island surrounded by a lot where we stick out without wanting to stick out.
by 2tall4economy
Sun Nov 28, 2021 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

I would not move into any town in Cook County, but that's just me. Good friends lived in Winnetka for many years and finally pulled up stakes and fled to Lake Bluff because of the taxes (and that's saying something because Lake Bluff taxes are relatively high, see below). Lake Forest is very nice, and has a very well run municipal government and many amenities (beach, community center, library, senior center, parks, recreation center, golf course, open space, etc.). A remarkably long and not well known abolitionist history (e.g. first mayor was a major figure in the underground railroad). Great private school options in addition to great public schools. You will find a certain small group of very old names (some of which no longer have mon...
by 2tall4economy
Sun Nov 28, 2021 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Re: Relocating to Illinois north shore - advice/suggestions?

Where are you living now? What are your pluses and minuses of the current location vs what you perceive on the north shore. I grew up in the north shore area but now live in St. Charles. Most of my friends live in Deerfield, Northbrook, etc, so I know it well. You will also need a trusted real estate attorney in this state. We’re essentially in Hinsdale right now (we’re not within city limits but we’re across the street and that’s where we go for shopping and post office and haircuts and quick dining etc). We originally loved the access to Ogden and oak brook and all of the stores nearby when we were relocating and needed to get things for the home but settling in and Covid has changed our needs in that space and now it’s more about other ...
by 2tall4economy
Sun Nov 28, 2021 9:44 am
Forum: Investing - Theory, News & General
Topic: Some takeaways from estate tax return data
Replies: 10
Views: 1405

Re: Some takeaways from estate tax return data

stereotaxis wrote: Sun Nov 28, 2021 4:57 am Thanks for your insightful analysis. I have an admirer of your deep dive posts into financial matters.
And you sir are clearly a gentleman and a scholar. And I like the cut of your jib.
by 2tall4economy
Sun Nov 28, 2021 9:40 am
Forum: Investing - Theory, News & General
Topic: Some takeaways from estate tax return data
Replies: 10
Views: 1405

Re: Some takeaways from estate tax return data

A2020A wrote: Sun Nov 28, 2021 7:31 am Great post, have blog?
Now there is an idea... I may have a retirement idea forming as a result :)
by 2tall4economy
Sun Nov 28, 2021 9:36 am
Forum: Investing - Theory, News & General
Topic: Some takeaways from estate tax return data
Replies: 10
Views: 1405

Re: Some takeaways from estate tax return data

After rebucketing some stuff for easier digestions, I came up with this for anyone interested. The totals won't gel perfectly with the ones above due to choices I made in bucketing (ie including retirement assets in public investments even though IRAs could be use for private investments for example). Apologies for formatting: <$5.45M <$10M <$20M <$50M >$50M <5M vs >50M Bonds 8.4% 12.2% 12.2% 11.0% 9.0% 1% Public Equities 24.2% 33.2% 29.8% 26.7% 24.8% 1% Other Assets (Cash/Ins/Unspecified) 12.1% 11.3% 12.8% 9.7% 8.8% -3% PE / Hedge Funds 8.6% 10.2% 10.8% 15.2% 29.2% 21% Business (Assets/Partns/RE) 35.3% 25.2% 28.0% 30.9% 24.8% -11% Personal Assets (Prim Res/Art) 11.4% 7.9% 6.4% 6.5% 3.4% -8% Total Assets 100% 100% 100% 100% 100%
by 2tall4economy
Sun Nov 28, 2021 9:34 am
Forum: Investing - Theory, News & General
Topic: Some takeaways from estate tax return data
Replies: 10
Views: 1405

Re: Some takeaways from estate tax return data

sycamore wrote: Sun Nov 28, 2021 6:06 am Thanks for posting. Would you mind sharing the URL pointing to the IRS data?
https://www.irs.gov/statistics/soi-tax- ... -net-worth
by 2tall4economy
Sun Nov 28, 2021 12:25 am
Forum: Personal Finance (Not Investing)
Topic: Relocating to Illinois north shore - advice/suggestions?
Replies: 43
Views: 5606

Relocating to Illinois north shore - advice/suggestions?

I relocated to Illinois about 3 years ago just before COVID. We are in the west suburbs now and as our lease expires in May we're looking to finally settle down (we've moved house at least every 3 years for the past ~23 years, if not more frequently, but kids growing and irritated wife are pushing me to say enough is enough). We took a look at some locations here where we live now and after a lot of discussion with my wife I convinced her we should look at the north shore too. Long story short, we really, REALLY liked the north shore. Now I'm trying to narrow down to a specific town (from Lake Bluff, Lake Forest, Highland Park, Wilmette, Winnetka, Kenilworth, Glencoe, Evanston). I've randomly discarded Evanston and Lake Bluff simply because...
by 2tall4economy
Sun Nov 28, 2021 12:09 am
Forum: Personal Finance (Not Investing)
Topic: Computer science as a college major
Replies: 146
Views: 10485

Re: Computer science as a college major

School is boring for smart kids. I was a great test taker (best of the best SAT and ACT scores) but I half-assed my classes and studying because of effort vs reward. I graduated with a 3.2/4.0 in a no-name high school and I got a 2.9/4.0 average in a world class college... but I only attended about 60% of my classes. In grad school I decided to really focus and attend every class and do all homework for a semester. And got a 4.0 (highest possible), and then I slacked off again and grades dropped. So on that front, I'd say tests matter more than grades to determine actual ability and he or she will be fine in the longer run. Also, the school you attend matters a lot more than it should. In terms of career, I triple majored CS, EE, and CE and...
by 2tall4economy
Sat Nov 27, 2021 11:30 pm
Forum: Investing - Theory, News & General
Topic: Some takeaways from estate tax return data
Replies: 10
Views: 1405

Some takeaways from estate tax return data

Was playing around on the IRS website looking at various data and saw the net worth data (essentially the aggregate for anyone who filed an estate tax return). For those that already know all about this, then nothing for you here. But it was new to me and I took away a few things. They do it every 3 years but 2019 isn't published yet (much like a lot of other IRS data hasn't been published for 2020 because reasons?)... The <$5.5M crowd (estate tax cap at the time) and the $50M+ crowd were significantly different from each other (unsurprisingly), but the $5M to $50M slices were actually quite similar in a lot of ways, so much so that there wasn't much to conclude from that middle ground to differentiate itself from its neighbor. Debt: ~75% o...
by 2tall4economy
Sun Nov 21, 2021 12:18 am
Forum: Personal Consumer Issues
Topic: Homes with no printer - minimalism
Replies: 141
Views: 11420

Re: Homes with no printer - minimalism

Like some others, I need to print approximately 10 pages per year and only because the archaic dinosaur company on the other side insists they must have a physical signature (usually banks). If it wasn’t for them I’d never print anything ever.

And anything that is printed and sent to me gets immediately picture snapped and pdfd by me and saved to my hard drive and backup server and then recycled.

I print those 10 pages at work after hours.
by 2tall4economy
Sun Nov 21, 2021 12:15 am
Forum: Personal Finance (Not Investing)
Topic: How did the USAA bank Get So Bad
Replies: 66
Views: 10082

Re: How did the USAA bank Get So Bad

It’s always been bad. The insurance used to be good but now it’s way too expensive.

My family dumped USAA en-masse about 2 years ago after a decade or more with them.
by 2tall4economy
Sat Nov 20, 2021 9:48 pm
Forum: Personal Consumer Issues
Topic: New vs Used Car Prices Once Supply Chain Normalizes
Replies: 4
Views: 705

Re: New vs Used Car Prices Once Supply Chain Normalizes

Not sure it’s over. You can still sell used for inflated prices and buy new at sticker. You just have to wait for it to come in.

I’ve bought three new cars and sold three used during the pandemic. Wasn’t looking to make money but happy that I did…
by 2tall4economy
Wed Nov 17, 2021 7:37 am
Forum: Personal Finance (Not Investing)
Topic: How has inflation changed your expense/spending strategy?
Replies: 237
Views: 24380

Re: How has inflation changed your expense/spending strategy?

It’s allowed me to unload rental properties and extra, fun cars and make a lot more than i otherwise would have!

Otherwise, literally zero change.

I did buy a used car yesterday and I hated myself a bit because I knew I was buying at top of market, but I still did it.
by 2tall4economy
Tue Nov 16, 2021 12:07 am
Forum: Personal Finance (Not Investing)
Topic: How do you deal with initial job offer? (salary negotiation)
Replies: 14
Views: 2066

Re: How do you deal with initial job offer? (salary negotiation)

sksbog wrote: Mon Nov 15, 2021 7:32 pm
2tall4economy wrote: Mon Nov 15, 2021 5:05 pm Dicey decision.

If you’re ok to wait for offer number two anyway, shoot for the moon and see if they’ll agree. Worst case you lose an offer you were going to take anyway.

My most recent job I negotiated 16% more.

Job before that they were only ok to give me 3% more.

Job before that they didn’t negotiate except on the sign on.
Recruiter already told there is room for negotiation.
I know a guy who was interviewing with a company, knew the people, and they asked him to name his price.

So he did. And they said sorry that’s way too much and never came back to him.

So it could go the way you are thinking, or it could go the way I’ve seen. But mileage may vary of course.
by 2tall4economy
Mon Nov 15, 2021 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: How do you deal with initial job offer? (salary negotiation)
Replies: 14
Views: 2066

Re: How do you deal with initial job offer? (salary negotiation)

Dicey decision.

If you’re ok to wait for offer number two anyway, shoot for the moon and see if they’ll agree. Worst case you lose an offer you were going to take anyway.

My most recent job I negotiated 16% more.

Job before that they were only ok to give me 3% more.

Job before that they didn’t negotiate except on the sign on.
by 2tall4economy
Sat Nov 13, 2021 9:04 am
Forum: Personal Investments
Topic: Rivian - ?next Tesla ; how to buy [stock]
Replies: 142
Views: 19105

Re: Rivian - ?next Tesla ; how to buy [stock]

A recruiter called me to be head of a very senior role for rivian a few months ago and pitched the ipo as the attractive part.

I’m a finance guy. I didn’t take it once I got to know the company better. Those two things should tell you a lot about long term viability.

That said, I can totally understand the Tesla / Bitcoin effect. I just don’t want to be anywhere near it when it comes crashing down.
by 2tall4economy
Sun Nov 07, 2021 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: When is it worth it to risk health to make more money in job?
Replies: 100
Views: 11106

Re: When is it worth it to risk health to make more money in job?

Was in similar situation as you and chose the stress route. The money came and so did the health impacts. The nice thing about it is the health impacts forced me to drop everything and reprioritize things in a way I was unable to stick to before the health problems came. And now I’m 90% recovered back to where I would have been anyway…. So prioritize your health, but don’t feel like you can’t also continuing pushing yourself. It’s about balance and you can often recover from whatever you do to yourself as long as you don’t wait too long. In a related note, it’s funny how the extra $100k every few years doesn’t give you the same rush as it used to. I remember going from $100k to $200k and it was a huge deal. But $200k to $300k was surprising...
by 2tall4economy
Wed Oct 27, 2021 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Moving Up on the Property Ladder (Young Family with High Income and High Debt)
Replies: 22
Views: 2168

Re: Moving Up on the Property Ladder (Young Family with High Income and High Debt)

Unless you just started making $450/year in the past year, you clearly have no control over your finances. When I was making that money at roughly the same age, the only debt I had was my house.

The last thing you need is more debt.

Pay off literally everything else, max all retirement accounts, save enough for a 25% down payment in cash, then Start shopping.
by 2tall4economy
Wed Oct 20, 2021 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Leaving first job for short-term consulting position?
Replies: 9
Views: 912

Re: Leaving first job for short-term consulting position?

Don’t let leaving someone hold you back. You need to look out for yourself since companies will not do the same for you.

In terms of taking a short term, I guess that’s ok, but right now we’re in the middle or perhaps the beginning of the end in a hiring boom. And environmental jobs in particular have very strong negotiation power.

I would try to find something long term and make a change there instead of short term. 2023 is just long enough for the job market to cool when you’re looking again.
by 2tall4economy
Wed Oct 20, 2021 12:33 am
Forum: Personal Consumer Issues
Topic: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?
Replies: 333
Views: 35068

Re: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?

I switched from economy to sport in my 20s with a few camaros and then a Dodge Viper. I tried luxury in late 20s with an Escalade (not true luxury at the time but I think they are now) because the viper was so brutal to drive daily for a tall person. I dumped the viper and kept the Escalade. Then dumped that and transitioned to fast big cars, with a 300c and a sts-v. But still I wouldn’t say those were really, really luxury (which to me back then was really only German 3) I actually moved to luxury in my 40s for the first time, grabbing a s class coupe when I got back to the us from living without a car overseas for years. In large part to see what all the fuss was about. Was incredibly luxurious. But didn’t do much for me excitement wise. ...
by 2tall4economy
Tue Oct 19, 2021 2:08 pm
Forum: Personal Consumer Issues
Topic: How is your wallet or purse financially prepared: Suggestions?? what do you carry? men/women? Daily? For travel?
Replies: 115
Views: 9490

Re: How is your wallet or purse financially prepared: Suggestions?? what do you carry? men/women? Daily? For travel?

Went through this when I lived overseas and travelled all the time. Kept reducing bit by bit. Ultimately I used a bellrot slim travel wallet then. I stopped carrying my passport when I came back to the us and have used a big skinny wallet since. Simple Bifold. Forced me to cut back but still have more than I’d like mostly because government and work. 1 credit card 1 debit/cash card 2 work Id (parking garage and building access) 2 gun permits 1 drivers license 1 insurance card (even in today le day and age everyone seems to need a card vs a picture) 1 voter id (just a piece of paper or I’d take it out between voting seasons) 1 expedited customs card (forgot what it’s called) Some cash. $50 or so. Wallet is maybe .75” thick with all that. Cal...
by 2tall4economy
Thu Oct 14, 2021 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Time to reach 1M and 2M milestones
Replies: 426
Views: 137356

Re: Time to reach 1M and 2M milestones

Selection of ages and investible net worth below. So looks like 4 years...

Age Investable assets
24 0
29 (140)
33 94
38 1,175
42 1,979

Real estate was a large portion of my portfolio for a while and after I started selling them I went back last year and restated all of the net worths since I was excluding the cost to sell and realistic sale prices... much more humbling after the adjustment. I had previously "hit" $2M at 40...

Another reminder - unless it's a liquid security, I caution you on your valuations!
by 2tall4economy
Thu Oct 14, 2021 8:40 pm
Forum: Investing - Theory, News & General
Topic: first million [in your retirement portfolio]
Replies: 253
Views: 59182

Re: first million [in your retirement portfolio]

I guess I started at 33 but it depends on if you count debt... no daily driver cars or home equity included below.

Real estate was a large portion of my portfolio for a while and after I Started selling them I went back last year and restated all of the net worths since I was excluding the cost to sell and realistic sale prices... much more humbling after the adjustment.

40s have gone slower than 30s but picking up now...

Age Investable assets
24 0
25 0
26 (62)
27 (54)
28 (96)
29 (140)
30 (30)
31 (12)
32 (8)
33 94
34 292
35 350
36 524
37 833
38 1,175
39 1,239
40 1,515
41 1,813
42 1,979
43 2,246
44 2,335
45 2,804
by 2tall4economy
Tue Oct 12, 2021 12:47 am
Forum: Personal Finance (Not Investing)
Topic: Employer Stalling on 401k Match
Replies: 45
Views: 3800

Re: Employer Stalling on 401k Match

I’ve had all sorts of plans over the course of a handful of different mega corps.

They absolutely can do it all at once after the year is over (my current company does that for the “free” contribution but the match happens at time of paycheck.

But they’re all different. And applying what maximized you before to the new company is very likely to make you worse off in the new company.

When I join a new company I get a copy of the spd, read the specifics, build out a spreadsheet to figure out how to maximize it a d then sign up.

I’m sure I’ve gained tens or even hundreds of thousands of dollars in my career as a result.

A good roi. Read the spd
by 2tall4economy
Mon Oct 11, 2021 5:23 pm
Forum: Investing - Theory, News & General
Topic: Is it actually rational to have a higher stock allocation as you age and become richer?
Replies: 96
Views: 19756

Re: Is it actually rational to have a higher stock allocation as you age and become richer?

Depends :)

I was invested 100% stocks for 20 years since I was employed. Now as I approach retirement I own bonds for the first time.

But yes, I would think that any excess of your living expenses covered through death, with no particular earmark, might as well let it ride.