Moving to HCOL; Rent/Buy/Build

[chucki]

100% this, which is...lazy...

[chucki]

Yes...

[chucki]

AI will replace Radiologists when AI will fly airplanes with no pilots. I'll pick the plane with the pilot. Every. Single. Day....

[chucki]

This makes sense. So assuming I buy a "starter home", I have 2 questions:

1) Does it make economic sense to own the home for ~...

[chucki]

Good points, I don't know anything about building. The top local builder in the town we are looking at is charging $600-700k for 2/2+ acre lots and then...

[chucki]

Mid-career and planning to move across the country to a HCOL area in about 4-5 months. My job is location independent. Buying a decent-sized, nice...

[chucki]

It's probably a short term pump. I think the real value of bitcoin is in the strength of the network, not adoption. This accretes over time. Price is...

[chucki]

Bitcoin is money for enemies. It doesn't matter what your political opinions are, where you live, or what you believe in. It's money for all.

[chucki]

It would have been a boring read without the whining. And I skipped the sales pitch thankfully since I read your post before the blog....

[chucki]

The cost to mine at scale is much cheaper than at-home mining which is most likely a break-even venture (if you have really cheap electricity and miners...

[chucki]

Yeah they are in school and will be moving during HS so I want to minimize the adjustment by not having to move them multiple times. I think they would...

[chucki]

This makes sense...guess I really need to find something in time for the next school year....

[chucki]

I am considering moving to a different metro area. I have targeted a suburb of a large metro with a great school district, where a very close friend of...

[chucki]

You will likely get back ~25% of your lost BTC from MtGox based on settlement/recovered coins. Expect something like .25-.3 BTC, not 2. Which isn't bad,...

[chucki]

Came for a horror movie plot, stayed for inheritance discussion.

[chucki]

BTC does consume a lot of energy, but it gets its value from that -- it's essentially digital energy. POW (as noted by jacoavlu) is what secures the network....

[chucki]

Bitcoiners are playing the long-game and have low time preferences. This asset is a 5-10 year hold at minimum and many will say forever. I agree it's...

[chucki]

Can you provide a little more detail about how you approached leadership and how you posed your requests and the ensuing response/negotiations? Would...

[chucki]

I did say that, but in a different post — you took it out of context. So you still haven’t disproven any fact. The dollar is clearly being devalued...

[chucki]

What fact is wrong? I’m not measuring my dollar vs other currencies. I’m measuring my dollar today vs my dollar vs what it was the year before and...

[chucki]

Excellent point. A lot of people ask what bitcoin is backed by as an argument against it. The things that need backing are fiat currencies. At one...

[chucki]

Sound money doesn't need to act as a MOE. SOV alone is an adequate function....

[chucki]

Bitcoin is global money. Takes the state out of the equation, to an extent. The currency (for medium of exchange and unit of account purposes) will likely...

[chucki]

The irony here is that people want to say the concentration is too high amongst the top and yet also claim it's a Ponzi. Can't have it both ways.
...

[chucki]

Blockchains are slow, inefficient ledgers compared to databases such as AWS or Visa. Best utility of a blockchain is the bitcoin network which is decentralized...

[chucki]

I like the idea of queuing up funds in brokerage account beforehand so that you can transfer to TIRA on 1/1 (or 1/3). Then you don't have to wait 3-5...

[chucki]

Be wary of the PE. The cash sounds great but the 2-3 years working for them after being your own boss could be miserable. Hopefully, it's just a lesser...

[chucki]

BBB just got pushed back to 2022 by Senate Dems. Does this mean we should do BDRs on Jan 1? Any guidance from WCI?

[chucki]

Thanks....

[chucki]

Thanks...to clarify, I'm speaking for 2022 backdoor Roth....

[chucki]

Does the first step (deposit into TIRA) need to be done after Jan 1 or does just the Roth conversion need to be done after Jan 1? I use TD Ameritrade...

[chucki]

100%. Cheap sats....

[chucki]

Why is BTC important and why you can only ignore at your own risk:

"It is not possible to insulate yourself from the consequences of...

[chucki]

I am a fan of TD. Have had an account since it was Datek. Solid customer service. One can invest instantly after ACH. I also have Schwab (which I...

[chucki]

Do you know those guys? I had a twitter exchange with Adam Back. I saved the screenshots because there's a decent chance he's Satoshi.

[chucki]

I can see, that over time, you have become a true bitcioner. You kept an open mind, didn't let ego or preconceived notions be a roadblock, and did the...

[chucki]

I have a feeling Jack resigning from Twitter has something to do with his vision vs the Board’s about BTC vs crypto. I am sure the story will come...

[chucki]

Bitcoin is easily lost in boating accidents.

[chucki]

I have done this in the past for wedding gifts, etc. Buy and setup a ledger and then add some btc (buy off exchange and transfer to the ledger or hardware...

[chucki]

No. I just rearranged my retirement plans into a 401k so I could open up Roth IRA....

[chucki]

Jumped through a bunch of hoops to set up and consolidate my SEP IRA and multiple rollover IRAs into a i1401(k) -- and might only get one year of Roth...

[chucki]

Do any DAFs let you control the investments?

[chucki]

I am old enough to remember when talk of bitcoin was discouraged on this server. This is clearly one of the busiest/most viewed threads on the forum...

[chucki]

Yes they are legit, but the risk of your account being seized is non-zero. Self custody of your private keys solves this....

[chucki]

I see being backed by the US military as a fundamental disadvantage. You can't always bully the rest of the world to your will. Endless wars and occupations...

[chucki]

I think what he/she is confusing layer 2 (eg Lightning) on top of BTC for "other coins backed by bitcoin."...

[chucki]

Thanks for the responses. I thought I had read somewhere that you need to wait a year before next contribution but that didn't make sense to me.

[chucki]

Finally became eligible and did my backdoor Roth IRA for 2021 (mine and spouse). Can I do backdoor Roths for 2022 on January 1st (assuming it is not legislated...

[chucki]

Hal Finney, Adam Back, Wei Dei, Nick Szabo, Gavin Andreesen, etc....Paul Le Roux (if you want to get crazy)....a few ppl on this list...Craig Wright.

[chucki]

Get off zero...buy a little BTC, even $20 worth. It will force you to learn, as long as you put some time and effort into it. My ongoing journey through...

[chucki]

I have been trying to avoid jumping into this thread -- (and with all due respect to WCI) but there is a lot of misinformation and ill-informed opinions...

[chucki]

Instead of ranting or pretending to know more than I do, I would suggest you google "Greg Foss bitcoin" and read his work/listen to the podcasts...

[chucki]

I haven't with those companies, but I would just do it online/initiate it at E-Trade and then inform Vanguard (by phone) to remove any blocks they may...

[chucki]

Agree to disagree. The bond market/US-Treasuries will be disrupted....

[chucki]

Bitcoin will stop going up when it becomes the global reserve currency and price discovery is achieved. We will no longer measure BTC in dollars. Dollars...

[chucki]

The arguments of BTC/crypto for crime are tired. More crime is done with the USD on absolute and relative basis than crypto. All the FUD keeps getting...

[chucki]

Yes....or very close to it...

[chucki]

Agree with Napolean. If BTC fulfills its promise, it will become the global reserve currency. It's the soundest/hardest money ever created. The days...

[chucki]

I wouldn't rebalance but that's because I'm super bullish on BTC long term. It's a small % that was invested initially -- if one feels compelled, could...

[chucki]

This. I didn't see your response as I was typing my own....

[chucki]

I don't think anybody is pretending that...but there are very few incentive structures for creating another truly decentralized protocol. Sure, if you're...

[chucki]

I actually used the analogy of BTC being like an index fund, and ETH/cryptos being akin to individual (tech) stocks. I don't consider an index fund and...

[chucki]

Somebody asked earlier (and this may not be my first time saying this, so I apologize if that's the case) how BTC is different than other cryptocurrenceis...

[chucki]

He did not mention the tax benefits of appreciation and leaned strongly towards cash flow. Is this a controversial topic? I figure most WCI would lean...

[chucki]

No...I was thinking real estate or something else with a more tangible return. I guess the easiest would be buying more stocks. I don't have a RE portfolio...

[chucki]

I don't have any specific plans for attaining passive income -- but real estate or perhaps investing some business (abstract) -- any ideas people may...

[chucki]

How would you allocate a decent amount of capital (probably upper 6 figures) in the setting of going from full-time to possibly part-time work? My initial...

[chucki]

Thanks JBME

[chucki]

Are there any proposed dates when the regular (not mega) backdoor Roth IRA may close?...

[chucki]

Finally going to get this process started. Is Schwab a good brokerage to use for solo 401k?

[chucki]

RP acquires contracts by either buying out the existing group or by taking over the hospital contract by RFP/sweet-talking the admin. Older/retiring...

[chucki]

Check out auntminnie, many threads on the topic. They are universally despised by most Radiologists. They are a huge corporate entity that has been taking...

[chucki]

Sounds like pure exploitation and is done not only by hospitals but by physician groups, preying on new or young hires....

[chucki]

It should be. The best groups are already adapting to this. Work on site when needed, maintain your presence in the hospital. WFH when you can, for...

[chucki]

Jura Z6 or drink water. For some things in life, you just got to pay up.

[chucki]

What's the best time of the year to leave a group (not retiring)? Should one stay until dec 31 to collect full retirement contributions or is it pro-rated...

[chucki]

Thanks for the reply Jim. I don't disagree with you at all. But the FA's on the pods know absolutely nothing about this asset class -- it's clear as day....

[chucki]

Why don't they talk more about bitcoin? It's basically malpractice to ignore this asset class. WCI has had a couple FA's on the pod that were served...

[chucki]

Vacation/life experiences >>> school. 10, 20, 30 years later your kids will remember if you took them across the country or the globe to see...

[chucki]

I have my rollover IRAs spread across 3 institutions. I guess it makes sense to close the rollovers and open up tIRAs in one spot. I do want to make...

[chucki]

I am planning to open up a solo 401k at Schwab. I have pre-existing: SEP IRA and 2 Rollover IRAs. After I transfer and consolidate funds into the 401k,...

[chucki]

With a CAGR of 150-200%, the volatility is irrelevant over the long term.

[chucki]

Agreed, Napolean. The strategy is not dissimilar from buying index funds. In fact, it is the exact some philosophy but for a different asset class....

[chucki]

The name of the game is DCA or as WCI likes to say, periodic buying -- that's how you'll end up being a long-term winner. Most of the animus in this...

[chucki]

Are there any important considerations to take before stetting up an individual 401k?

[chucki]

I think you can only open one per state per beneficiary. Some seasoned pro can confirm or correct this.

[chucki]

BTC up 58+ % in 3 weeks

[chucki]

EFund is just a conceptual portion of my bank account. I need to keep money in there for estimated quarterly taxes, school/property taxes, monthly living...

[chucki]

All of these seem like great arguments for FI(RE). Get at it.

[chucki]

How bad is it really to overfund? It's pretty hard to overfund if you're paying for undergrad and grad. And even then, some argue it's still a good...

[chucki]

Disagree. Read about the “Bitcoin Beach” in El Zonte. It’s a model for how Bitcoin can empower the poor....

[chucki]

The last halving was in May 2020. No halving in 2021. The next will be in 2024....

[chucki]

How does this make sense? The bank owns it until you pay it off. Once you pay $50k, then you own 50% of it at which point it nets to 0 in terms of net...

[chucki]

In times of inflation, owning hard assets is the best bet. Hard asset = real estate = your house. Pay off mortgage, the money is going into a hard asset...

[chucki]

It's not like Elon hasn't manipulated markets before -- remember "Funding Secured" about taking TSLA private, DOGE pumps, etc. Not sure why...

[chucki]

Thanks for the replies. Appreciate it.

[chucki]

I think I may have come up with a solution. Rollover my SEP into the 401k and self-manage. And then to maintain diversification, I can open up taxable...

[chucki]

I don't disagree with that. But if you see my situation, I avoid broad-based index funds for reasons I mentioned earlier. By having the money manager...

[chucki]

As a follow-up, the money manager I use does not work with 401ks (currently managing a portion of my SEP-IRA). So there is really no workaround short...

[chucki]

Any places that can self-refer have natural conflicts of interest, simple as that.