Won the game. Now what!?

[abds]

You'd think I'd learn my lesson and stop engaging.

No, you should be as open minded as I am to different ideas. Inclusion>exclusion.

Here's a little bit of the reality at market returns for docs, in the form of real collected data:

Medscape Physician Debt and Net Worth Report 2020

Mid-career, I'd have to do very, very poorly at this point to be stuck at $30M NW at retirement, as a PCP for that matter...and I don't even do individual stock risk.

.

That's awesome. It really is. Good for you.

REALITY

YTD %:

VFIAX 16,68
VTSAX 19.93
AMZN 71.82
DXQLX 95.78
MSSMX 158.69
BTCUSD 522.15
TSLA 702.48

Unlike some here I don't fully doubt your returns. You sent me a PM with some funds that you had kept so closely guarded for a while, and I watched them and you're right, they did very well.

MSSMX is up 0.8% annualized over 20 years. It's up 7% annualized over 10 years. It's -0.02% annualized over 7 years. In order to make decent return with it, you would have to buy and sell and buy and sell, i.e. market timing. TSLA's last 18 months is probably a once in a lifetime stock pick for many of us. Whatever got you to buy these things took a lot of research and/or luck. The OP doesn't seem to have this ability based on 10+ years of work and $360k saved, including inexplicably having lost $10k on bitcoin which is at an all time high.

DXQLX is a star, no doubt. Who knows if it will continue. I don't think your techniques are for the OP.

[EntrepreneurMD]

You'd think I'd learn my lesson and stop engaging.

.

That's awesome. It really is. Good for you.



Unlike some here I don't fully doubt your returns. You sent me a PM with some funds that you had kept so closely guarded for a while, and I watched them and you're right, they did very well.

MSSMX is up 0.8% annualized over 20 years. It's up 7% annualized over 10 years. It's -0.02% annualized over 7 years. In order to make decent return with it, you would have to buy and sell and buy and sell, i.e. market timing. TSLA's last 18 months is probably a once in a lifetime stock pick for many of us. Whatever got you to buy these things took a lot of research and/or luck. The OP doesn't seem to have this ability based on 10+ years of work and $360k saved, including inexplicably having lost $10k on bitcoin which is at an all time high.

DXQLX is a star, no doubt. Who knows if it will continue. I don't think your techniques are for the OP.

Thanks for the acknowledgement. You followed my holdings yeah!

For disclosure I didn't buy everything I listed above (wish I did, minus the traditional index funds), it was just an example of real opportunities for self-advancement. There are many others. DXQLX is my biggest holding at 1/3 of my retirement portfolio currently, owned since 2014. I also currently own INPIX, CPOAX, and other great performers. I actually didn't do bitcoin or TSLA (yes, I make many mistakes). Anyone can perfect a strong portfolio of funds, OP or otherwise. I found it much easier than many of you seem to think.

I do understand that those that simply doubt my holdings will not get it. Moderators here know my identity and have verified my assets, both hard and financial. Reality is what people believe doesn't hurt the fact that my retirement accounts did about 50% this year. It's that very doubt in their own abilities that keeps people from their potential as all those articles they read tell them "you can't". My only hope is some will learn to do, erasing the doubt that is probably more about themselves than in what I've actually managed to do...or not if that's what you wish to believe at this time. You mentioned reality - if someone's reality is that this is not possible they really can't be helped. Those are the ones that don't engage. I personally think you're much smarter. PM me if you doubt anything or if you find any of my methods intriguing. Knowing is better than missing out - although from what I have seen you are doing very, very well...no doubt in my mind at all.

Will something continue to outperform? Who knows? I look at the fund holdings, I decide what I think will outperform going forward. If it's status quo, that's it. If not, I monitor fund returns and transition if necessary. That's all. In my experience a major transition is probably only necessary once every 10 or 15 years. After 2007 tech and healthcare overtook oil and banking. That's not day trading by any stretch, simply an acknowledgement of new leadership to benefit from.

[Panscan]

r

Thanks for the acknowledgement. You followed my holdings yeah!

For disclosure I didn't buy everything I listed above (wish I did, minus the traditional index funds), it was just an example of real opportunities for self-advancement. There are many others. DXQLX is my biggest holding at 1/3 of my retirement portfolio currently, owned since 2014. I also currently own INPIX, CPOAX, and other great performers. I actually didn't do bitcoin or TSLA (yes, I make many mistakes). Anyone can perfect a strong portfolio of funds, OP or otherwise. I found it much easier than many of you seem to think.

I do understand that those that simply doubt my holdings will not get it. Moderators here know my identity and have verified my assets, both hard and financial. Reality is what people believe doesn't hurt the fact that my retirement accounts did about 50% this year. It's that very doubt in their own abilities that keeps people from their potential as all those articles they read tell them "you can't". My only hope is some will learn to do, erasing the doubt that is probably more about themselves than in what I've actually managed to do...or not if that's what you wish to believe at this time. You mentioned reality - if someone's reality is that this is not possible they really can't be helped. Those are the ones that don't engage. I personally think you're much smarter. PM me if you doubt anything or if you find any of my methods intriguing. Knowing is better than missing out - although from what I have seen you are doing very, very well...no doubt in my mind at all.

Will something continue to outperform? Who knows? I look at the fund holdings, I decide what I think will outperform going forward. If it's status quo, that's it. If not, I monitor fund returns and transition if necessary. That's all. In my experience a major transition is probably only necessary once every 10 or 15 years. After 2007 tech and healthcare overtook oil and banking. That's not day trading by any stretch, simply an acknowledgement of new leadership to benefit from.

Are you going to start listing penny stocks that hit it big to show us " real opportunities for self-advancement?"

[triad]

why not NTSX instead of VTSAX?

[jfoxcpacfp]

The guy should ship via USPS media since it's a book. 12$ is crazy high and shipping via priority mail

First of all, he doesn't care about my opinion or yours, but I'll give you his email address if you want it. Look up curmudgeon and you'll probably find his picture. He has no problem getting SRO at a conference and is a multimillionaire several times over. Far be it for peon me to give him suggestions on how to run his business but I will tell you that he does everything first class and money is not a consideration. He's earned the right.

[EntrepreneurMD]

r

Are you going to start listing penny stocks that hit it big to show us " real opportunities for self-advancement?"

No. Index if those even popped up in your mind.

[Anne]

First of all, he doesn't care about my opinion or yours, but I'll give you his email address if you want it. Look up curmudgeon and you'll probably find his picture. He has no problem getting SRO at a conference and is a multimillionaire several times over. Far be it for peon me to give him suggestions on how to run his business but I will tell you that he does everything first class and money is not a consideration. He's earned the right.

You can only say money is not a consideration for someone if the money in question is coming out of their pocket. If they are passing the cost on to the consumer in the form of more costly than necessary shipping costs then that is either not keeping up with the available shipping options or not caring about your consumer.

[Random1]

Very impressive! Did you get super-sized returns from somewhere along the way? Please share your method.

No special method. We just saved money in mostly Vanguard funds. I maxed out my 403b as a resident. Paid off my student loans as fast as I could. I had $70000 when I graduated, most people are in a different ball park now. I was self employed for the majority of my career. In the first week of January I would put the maximum in for my profit sharing for the year, which ranged from 20,000 to 55000 the last year. We did not inherit money. My dad gave me $5000 when we bought our first house, which I did as a resident. Back then it was 70,000 which seemed like a lot. Our house is nice, but not fancy, but we live in a relatively lower cost of living area. My biggest mistake was paying for 4 years of private liberal arts tuition for my 4 kids. Respectively , it seems like it was a financial rip off, but they are doing well and productive, so I guess that is the most important part. Probably my best advice, max out retirement accounts, dont buy an expensive house or expensive cars, the rest is easy.

[uksho]

Very impressive! Did you get super-sized returns from somewhere along the way? Please share your method.

No special method. We just saved money in mostly Vanguard funds. I maxed out my 403b as a resident. Paid off my student loans as fast as I could. I had $70000 when I graduated, most people are in a different ball park now. I was self employed for the majority of my career. In the first week of January I would put the maximum in for my profit sharing for the year, which ranged from 20,000 to 55000 the last year. We did not inherit money. My dad gave me $5000 when we bought our first house, which I did as a resident. Back then it was 70,000 which seemed like a lot. Our house is nice, but not fancy, but we live in a relatively lower cost of living area. My biggest mistake was paying for 4 years of private liberal arts tuition for my 4 kids. Respectively , it seems like it was a financial rip off, but they are doing well and productive, so I guess that is the most important part. Probably my best advice, max out retirement accounts, dont buy an expensive house or expensive cars, the rest is easy.

If OP hasn’t won the game yet, you have. Congrats. What do people do when they have enough . Do you spend more? Give to charity ? Pass it on to kids ?

most of the regular posters on this forum will have more than enough . They have lived below their means . They scoff at expensive cars , pvt schools etc.I doubt they will spend money on those. Once they pass it on to kids, I doubt their kids or grandkids would live the same life. Someone will end up spending the money . Just thinking !

[G]

Do you spend more? Give to charity ? Pass it on to kids ?

Yes. Some. Hopefully.

[Panscan]

If OP hasn’t won the game yet, you have. Congrats. What do people do when they have enough . Do you spend more? Give to charity ? Pass it on to kids ?

most of the regular posters on this forum will have more than enough . They have lived below their means . They scoff at expensive cars , pvt schools etc.I doubt they will spend money on those. Once they pass it on to kids, I doubt their kids or grandkids would live the same life. Someone will end up spending the money . Just thinking !

Donate it. Can do a ton of good with money. Could not care less about " leaving a legacy" or whatever that means. Leads to spoiled brats IMO

[StarTrekDoc]

You can only say money is not a consideration for someone if the money in question is coming out of their pocket. If they are passing the cost on to the consumer in the form of more costly than necessary shipping costs then that is either not keeping up with the available shipping options or not caring about your consumer.

@jfoxcpacfp - we are all peons in the eyes of multimillionaires - true. doesn't mean he should kick the dog on shipping. Optics do matter when he's saying something on economics and savings and being prudent.

Anne - yep.

[Zaphod]

Unless you're planning to retire tomorrow, you cant worry about perceived valuations of the market. Would I love to go back and buy the nasdaq at the literal high of the dot com bubble? All day every day, so much cheaper than today.

Thats how you have to frame it. Pinch your nose and buy, anything else is a losing strategy. Be more mindful about allocation and such nearer to retirement.

It may indeed crash, so what, look away and buy some more. Lots more if you can. You'll be better off in 20 years.

[Tangler]

Here is the deal boss: (IMO)

1. Index funds = beat individual stock picking.
Over 10-30 years it is not even close. Read the books: Winning the losers game. or The Index Revolution or anything written by Bogle (links below)

2. Oak tree analogy
Saying you want a pile of money is like saying you want an oak tree. Oak trees come from seeds called acorns.

When was the best time to plant an acorn if you want an oak? Answer: 15 years ago.

when is the second best time? Answer: today

3. Slow and steady wins the race. This nonsense about picking individual stocks or cryptocurrency etc. Dude, you need to read the books below.
You cannot take your acorns and put special hot sauce from south LA on them and expect them to all the sudden grow like crazy and produce oak trees in 2 days.
It does not work like that. you are going to lose your shirt with crap like that so forget it. Read a book or ten about index fund investing and see why Warren Buffet himself recommends this for you and I, and his own trust after he dies.

4. Invest in the whole world (3 fund portfolio or equivalent) is the lowest risk strategy for you me and everyone else.
You MUST make some choices. Deciding not to decide is a choice (a bad one). You need to plant some acorns. What if they die? Well, plant a bunch and plant them for the next 10 years and look up in 30 years and you will have a mess of trees. Some will die, but some will do great. Especially if you plant them in several locations over several years. NOT planting is not a good option. You need some trees and inflation will erode your $.

Risks: (and how to fight them)
1. $ not keeping up with inflation (need some stocks)
2. Stock Market risk (need some bonds)
3. Country risk (Japan worry) (Invest in every country)
4. Longevity risk = out living $ (need some stocks)
5. Individual stock risk (buy index funds, don't take this uncompensated risk)

https://www.bogleheads.org/wiki/Three-fund_portfolio

https://www.amazon.com/Winning-Loser...s%2C166&sr=1-1

https://www.amazon.com/Index-Revolut...9113914&sr=8-1

https://www.amazon.com/Little-Book-C...Q9QZ0HANBF75JA

[Tangler]

Unless you're planning to retire tomorrow, you cant worry about perceived valuations of the market. Would I love to go back and buy the nasdaq at the literal high of the dot com bubble? All day every day, so much cheaper than today.

Thats how you have to frame it. Pinch your nose and buy, anything else is a losing strategy. Be more mindful about allocation and such nearer to retirement.

It may indeed crash, so what, look away and buy some more. Lots more if you can. You'll be better off in 20 years.

Gold!