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  • Craigy Craigy 
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    in reply to: Update on Forum Changes #255169 Reply
    Craigy Craigy 
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    Be like the rest of the market, and move it into equities to chase some more returns.

    Probably not a big need to have that much cash.  But if it helps you sleep at night to know it’s there, perhaps it’s worth it.

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    in reply to: Falling interest rates #255098 Reply
    Liked by Wiscoblue
    Craigy Craigy 
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    I donate to my high school.  Good people.  I feel like I know where the money is going.

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    in reply to: What kind of weirdo donates to their medical school? #255097 Reply
    Craigy Craigy 
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    I’ve reviewed probably half a dozen vet employment agreements, seems like they are all paid on a percentage of what services they perform, products they sell.  I.e., there’s a pretty direct correlation to the individual employee veterinarian selling you more stuff to make more money.  For what that’s worth.

    I have encountered different veterinarians who respond completely differently to the same problem with the same animal.  One vet: pup will be fine in a few days, nothing to worry.  Another: we need to do xrays, anesthesia, round of antibiotics, keep under observation, etc. etc.  Thanks for your advice but we’ll be on our way.

    Regardless, seems like a vet bill is never less than about $180.  Sometimes more like $400.  Routine checkup type stuff, heartworm pills.  No real explanation, just sort of a roulette of what the bill will be after the visit is over.  They’re definitely going for the medical practice model.  😉

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    in reply to: excessive veterinary bill #255092 Reply
    Liked by Lordosis
    Craigy Craigy 
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    I will probably start donating once my kids are nearing medschool age.

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    Craigy Craigy 
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    It seems like the more money you make, the less you want to (or are able to) retire.  Both the exit costs and the barriers to exit tend to go up with income.

    Most high-income physicians are locked into a high income, high spending lifestyle.

    Even those who are frugal see the value in earning more marginal dollars each year.

    And for many, it’s not a just a job, but an identity.

     

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    in reply to: Are some specialties more averse to retiring than others? #254857 Reply
    Liked by wa2106
    Craigy Craigy 
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    I am at 84% equities and going to part-time.  I expect my net worth to continue to increase.  My plan has always been to go down in equity exposure by 1% a year.  However, one thing I have never effectively figured out how to do, but want to understand better, is how to factor in my future Social Security returns (which are like TIPS) and pension returns (which are like corporate bonds) in my overall asset allocation.  This affects the amount of risk I want to take, and even though it is decades away before I claim it, ignoring it completely is a mistake.

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    Present value of annuity due.

    You’ll need to have an approximate idea of what your payments will be, when they’ll start, and how long you expect to live.

    Life expectancy doesn’t change the figures that much though, as the payments are so distant that any reasonable discount rate will diminish the value of additional expected future payments.

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    in reply to: How aggressive of an Asset Allocation in Retirement? #254427 Reply
    Liked by Lithium
    Craigy Craigy 
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    Don’t bother with moving the cash from one money market fund to another.

    And don’t fret about paying tax on like $2.00 of interest.

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    in reply to: Vanguard backdoor Roth IRA – am I screwing this up? #254158 Reply
    Craigy Craigy 
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    Thanks for all the replies. As most of you suggested, I’ll end up contributing to the 401k and also doing a back door roth.

    To answer some of the questions and comments:

    – I do think that my adviser was more so suggesting that skipping my 401k contribution the first 1-2 years is a feasible option in my situation (not necessarily pushing/recommending it). Not many have commented on this, but I will be able catch up tremendously with my keogh starting in 3 years. This will surpass my 401k within a few years. On top of this I have a pension plan. Perhpas this combined makes my situation a little different.

    – 1.2-1.4million in the better (not best) part of the city wouldn’t even get me a nice house. Im looking at a small, old house or a nice condo. Think Bay area/manhattan/LA market. Looking for a new place since we plan on having kids soon. Haven’t quite decided if it will be a forever home or not. Just depends on what I find. I am not so much in a rush to buy, but do want to stop paying rent asap.

    – I hired a FA because I wanted to start things right, right off the bat. I recently started to learn the basics of financial planning, but have not learned anything about investing/asset management. Also, as a new grad, my FA is charging me a flat, reasonable price ($800/yr).

    Thanks guys!

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    Yeah I think this does.  Sounds like you have this covered.  $19k or $38k of missed 401k space is probably not move the needle on your retirement plans.

    I suppose there is a risk that this could get you in an early habit of not making retirement contributions and spending that money.  But I don’t think that’s you.

    Don’t stress too much about the rent.  Again, paying rent for an extra 6-12mos will not have a dramatic effect on your financial wellbeing.  Buying the wrong house and having to move/upgrade too soon etc could have an impact.  Also remember, for each extra month of rent, you are saving interest payments on that home loan.

    Good luck!

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    in reply to: Save for home down payment vs 401k contribution #254153 Reply
    Craigy Craigy 
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    We’re in the process of designing/building.

    Looks like it’s going to end up being right about 2x or slightly above.

    IMO… worth it.

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    Craigy Craigy 
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    From your post, it sounds like he’s just saying it’s an option for you.

    IMO it’s not the end of the world to skip a couple years of contributions, particularly knowing you will more than make up for it thereafter with a high income good habits.

    It’s not some mortal sin to miss a 401k contribution like some of the above are making it out to beEspecially when there is no employer match that you’re missing.  It might be sub-optimal, but it’s nothing shameworthy.

    But also IMO spreading $19k of 401k contributions over the year isn’t going to significantly slow down your down payment savings.  You’ve already got $150k saved, which should be plenty for a 5% or 10% down doctor loan if you needed it.

    For a lot of people, saving up a down payment takes a lot of time, and 401k can dramatically slow that down, keep people renting and cause you to feel like you are missing out on house opportunities that pass you by.  But again that’s not you.

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    in reply to: Save for home down payment vs 401k contribution #253856 Reply
    Craigy Craigy 
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    I recently switched to a one of those minimalistic wallets.

    Super duper thin but I have to carefully select each and every item that goes in it.

    Pretty nice.

    https://www.amazon.com/Magpul-Everyday-Tactical-Minimalist-Credit/dp/B0755Q32LF/

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    in reply to: PSA – What's in Your Wallet? #253695 Reply
    Craigy Craigy 
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    Land banking is generally regarded as particularly risky.

    In addition to the value not panning out, there are maintenance expenses, liabilities you expose yourself to, taxes you have to pay.

    Force yourself to consider each and every aspect of the investment.

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    in reply to: Buying in a gentrifying market #253692 Reply
    Craigy Craigy 
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    WHAT DO YOU MEAN SELL IT?? 

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    Selling a bottle here and there is what keeps my wife semi-believing that the collection is an investment.  (That and showing her auction results.)

    The nice thing about BTAC/Pappy is that the secondary market is very active, making it is easy to value.  And that spread from retail to resale is nearly criminal, particularly if you never get a chance to buy at retail….

    Word on the street is that Total Wine Concierge will drop an email 10/23 about the fall release–not clear if that is when the stuff goes on sale or if it is just info about the sale.  Is there a TW in NOLA?

    Click to expand…

    No total wine in Louisiana  🙁  🙁  🙁

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    in reply to: frivolous female spending #253691 Reply
    Craigy Craigy 
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    Personally I spend on guns and bourbon.  Again, solid, underlying value.  I certainly don’t need any more of either. 

    Click to expand…

    Due to login issues, I took some time off from forum, but just clicked on the last page of this thread and perked up my ears at mention of watches, and then before that I see guns and bourbon.  Favorite topics!

    I’ve gotten lucky with my watch purchases based upon auction results….

    Craigy, are you getting any of the fall bourbon releases?  I used to have a good relationship with a local shop downtown, but after moving to the burbs, we’ve grown apart; I’m certainly not getting the call for the Pappy, etc.  Now I have to slum it with the masses at Total Wine.  I was able to get a bottle of Thomas H. Handy through their Concierge program last year; it’s been sitting on my desk since then and just about every day I ask myself if I’m going to drink it or sell it (300% profit it appears).  Time flies.

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    WHAT DO YOU MEAN SELL IT??  **Looking up how to report you to the BATFE**  😆

    Nah unfortunately I do not have any access to any of the limited releases, at least not so far.  I am in NOLA where we have a pretty decent selection of liquor stores, but alas far too many alcoholics who spend much more money than I do, or are at least better connected.  Best I’ve scored is a bottle of midwinter night’s dram which is fairly hard to come by, as well as a couple bottles of blantons (overrated IMO but the bottles look cool).  Last year I donated a bunch into a lottery for some of the BTAC lineup but came up empty handed.  Closest I’ve come to Pappy is an occasional pour from a teetotaler friend of mine who likes to have it on hand to impress his guests (cousins with a pretty large retailer).

    Recently I’ve been trying to find good store picks, a lot of Russell’s Reserve and Knob Creek picks seem to be really nice and good value, and a few from Four Roses.  Also have been buying too many bottles of Elijah Craig Barrel Proof, really loved the A119 this year.

    Funny though, I think hunting Handy and the Sazerac 18 was what got me started into “collecting” this stuff… I was drinking a lot of sazeracs with cheaper liquor and wanted to make a sazerac with the expensive stuff.  Had no idea how rare and sought after it was, but I quickly caught on.  😆

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    in reply to: frivolous female spending #253214 Reply
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