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[Donnie]

Hopefully efforts to bury an incredibly bad decision won't snowball into a further bad decisions to hide and cover up positives among the attendees, which...

[Donnie]

actuaryonfire wrote:   However the insight was surprisingly banal. My conclusion was that a ~4% SWR was probably fine around 95% of the time.     This encapsulates my objection to what you...

[Donnie]

...

[Donnie]

You say AOF isn’t trying to predict the future, isn’t accurately describing the past, and is instead describing what might have been.   That is...

[Donnie]

Complete_newbie wrote: Donnie wrote: Complete_newbie wrote:   Complete_newbie wrote: LIFO wrote:   Donnie wrote: AOF isn’t using a normal or lognormal distribution.  That would be sim...

[Donnie]

Complete_newbie wrote:   Complete_newbie wrote: LIFO wrote:   Donnie wrote: AOF isn’t using a normal or lognormal distribution.  That would be simplistic, but definsible.  He’s using a...

[Donnie]

Complete_newbie wrote: Donnie I understand full well what the techniques are but that’s not his goal. Predictive capability is NOT is goal (as far as I can tell). And you’re telling me there is a ...

[Donnie]

Complete_newbie wrote: Think we have beaten this horse enough Look all of these randomized sampling are based on assumptions. I understand MC is a generstive sampler based on a model and better but n...

[Donnie]

LIFO wrote: Can you explain this thought a little more?  Do we know if annual stock market returns are distributed in a normal or lognormal fashion?  If this is all the data that we have,...

[Donnie]

Complete_newbie wrote: Im the last person here who’d just take word for it. I’ve run some MCs but not on stocks etc, mostly just to learn the math and programming. I’ll PM you my thoughts and s...

[Donnie]

Complete_newbie wrote: Sorry but I didn’t see any thing in the thread you posted that convinced me that bootstrapping historical returns is bad I’m amyway. It assumes no underlying model while Mon...

[Donnie]

Because it is an improper use of statistics. Here’s the prior thread where it was discussed. https://www.whitecoatinvestor.com/forums/topic/actu...

[Donnie]

I gave the article a cursory skim, but scrambling historical returns is a bad idea.  In my opinion, it is worse than worthless.  It is actually harmful...

[Donnie]

Zaphod wrote: Donnie wrote: I don’t understand why anyone is against this, but I think it is awesome.  Hopefully many criminals woke up very nervous after reading how they caught this dude.  People always cite hypothetical slip...

[Donnie]

portlandia wrote: Donnie wrote: Why do people refer to the constitution as some kind of infallible source of divine wisdom? Click to expand… Strawman   Click to expand... Nope.  Arguments relying on the constitution alone are ri...

[Donnie]

CordMcNally wrote: Donnie wrote: I don’t understand why anyone is against this, but I think it is awesome. Click to expand… I think the big issue is if it is a violation of the 4th Amendment. Granted, I don’t know what rights use...

[Donnie]

I don't understand why anyone is against this, but I think it is awesome.  Hopefully many criminals woke up very nervous after reading how they caught...

[Donnie]

I think you are being too hard on yourself. I didn’t look up all the funds, but i suspect it is not that bad. Sure you are paying higher fees than...

[Donnie]

I’m not too familiar with PAYE, but it is really hard to believe that you netted $20k in 4 months after expenses driving for Uber. If gross counts...

[Donnie]

I have a small ~5% allocation to COW. The rest is in a three fund portfolio. :P

[Donnie]

Vagabond MD wrote: White.Beard.Doc wrote: Donnie wrote: White.Beard.Doc wrote: There is value to this debate. It is so sad when a two physician couple lives in a high cost of living area for 25 ...

[Donnie]

White.Beard.Doc wrote: Donnie wrote: White.Beard.Doc wrote: There is value to this debate. It is so sad when a two physician couple lives in a high cost of living area for 25 years and spends all of thei...

[Donnie]

White.Beard.Doc wrote: There is value to this debate. It is so sad when a two physician couple lives in a high cost of living area for 25 years and spends all of their earnings on housing, vacations, nannies...

[Donnie]

hatton1 wrote: I agree with Dr Mom that this nomenclature debate is worthless.  I now remember why I declined the opportunity to join my high school debate team. Click to expand... While reaching di...

[Donnie]

I don’t know about you guys, but I blame Bill Clinton for this. We have devolved to the point where we use words based on what they mean to us and...

[Donnie]

I think I’ve made this point on here before, but skid row is not littered with docs making $500k a year. Sure many docs spend more than they should,...

[Donnie]

The White Coat Investor wrote: I also like the phrase “asset poverty” as if that’s somehow different from regular poverty. If you have a negative net worth, you’re poor, I don’t c...

[Donnie]

Yes you can buy this house. Most regulars on this site are homeowners, but support getting your financial house in order before buying a physical home....

[Donnie]

As others have mentioned, most docs don’t have a high enough net worth to make it worth PE’s time to try to get doc investors, so opportunities are...

[Donnie]

q-school wrote: Donnie wrote: q-school wrote: I’m actually quite curious if people actually had the opportunity in front of them, how many would actually turn down this gift? It is...

[Donnie]

q-school wrote: I’m actually quite curious if people actually had the opportunity in front of them, how many would actually turn down this gift? It is my belief that we would fall vict...

[Donnie]

Doc_science wrote: Donnie wrote: Most high income professionals can’t make deductible contributions to a traditional IRA and can’t contribute directly to a Roth.  F...

[Donnie]

Most high income professionals can't make deductible contributions to a traditional IRA and can't contribute directly to a Roth.  For these people, the...

[Donnie]

Zaphod wrote: portlandia wrote: I would take the downpayment gift as that is what has been done for the other children and politely decline the loan. Your FIL sounds like a tr...

[Donnie]

I don’t see what the macro environment in the 70’s has to do with success in the 2000’s. Not like these funds are still benefiting from an annual...

[Donnie]

Hank wrote: Donnie wrote: Bridgewater has $160B of AUM. Renaissance has $80B. Hedge funds as an asset class have $3T of AUM. No shortage of people investing in these....

[Donnie]

Bridgewater has $160B of AUM. Renaissance has $80B. Hedge funds as an asset class have $3T of AUM. No shortage of people investing in these.

[Donnie]

If you don’t want people to know you bought a $50k car, the best solution is not to buy a $50k car. Once you have the car, people will know about what...

[Donnie]

I would add that not only can you open the TIRA and contribute before April 15, you should.  Otherwise that $11,000 of Roth space for you and your husb...

[Donnie]

q-school wrote: Donnie wrote: Anne wrote: Donnie wrote: SPlum wrote: Can I ask, what is the main purpose of this?   As a primary care physician, it takes a significant amount of me...

[Donnie]

Why not try pub school first to see how it goes. Will they really not take your $70k next year if you decide you don’t like pub schools.

[Donnie]

Anne wrote: Donnie wrote: SPlum wrote: Can I ask, what is the main purpose of this?   As a primary care physician, it takes a significant amount of mental will power, as it is, to ...

[Donnie]

SPlum wrote: Can I ask, what is the main purpose of this?   As a primary care physician, it takes a significant amount of mental will power, as it is, to look past the many posts or art...

[Donnie]

AR wrote: Donnie wrote: I gather from this thread that he offers financial advice. In this thread people have discounted his advice because (i) he lied about somet...

[Donnie]

jfoxcpacfp wrote: Donnie wrote: This is the problem with this line of thinking.  There is no way to figure out whether an actively managed fund is “quality” or not.  Funds outperform benchmarks until they ...

[Donnie]

Anne wrote: Donnie wrote: Anne wrote: Donnie wrote:   If you cheap out now, you may pay for it later. Click to expand… If you “pay for it later” because you didn’t spend enough on the en...

[Donnie]

jfoxcpacfp wrote: Over the long term, a well-diversified portfolio of quality mutual/etf funds, whether active or passive, are going to have similar results. Click to expand... This is the problem with this lin...

[Donnie]

Adrian wrote: 1. Pulled the trigger last nigth and started with $10,000 in Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) just to put my toes in the water. ...

[Donnie]

Anne wrote: Donnie wrote:   If you cheap out now, you may pay for it later. Click to expand… If you “pay for it later” because you didn’t spend enough on the engagement ring, you either: 1....

[Donnie]

It's not really a matter for debate.  You should seek the highest risk-adjusted return possible for a given asset class.  If an actively managed fund...

[Donnie]

You guys are pretty cheap.  I think I spent $10k on my engagement ring.  I was a grad student at the time with no clear prospects of making a high income. ...

[Donnie]

I don’t know who Robert Kiyosaki is, and I don’t care enough to try to find out. I gather from this thread that he offers financial advice. In this...

[Donnie]

Exchange all funds to money market or settlement/cash funds in existing account. Initiate transfer in kind from existing account to Vanguard. Redeploy...

[Donnie]

I would dollar cost average into stocks by investing an amount you are comfortable with each month over a year or so. I wouldn’t do a heavy bond allocation....

[Donnie]

The time evolution of the results was interesting. In the first couple days, the poll skewed older and wealthier. As more time elapsed, the results...

[Donnie]

hightower wrote: MPMD wrote: cozmopak wrote: This thread is making me scared.  Lol.  I just bought a million dollar house after 1.5 years at my first job.  I’m in a ton of debt and I absolutely love this house!...

[Donnie]

Let’s take the notion that this is some kind of great deal right off the table.  The house is available for $850k because, you guessed it, the value...

[Donnie]

RadFamilyMan wrote: Appreciate everyone’s sensible advice and caution and trying to talk me down. But… Home would theoretically be resellable as it’s in an area with many other physicians albeit in the booni...

[Donnie]

Nice work, congrats!

[Donnie]

newdoc1 wrote: Thank you for the responses. I do understand the importance of a financial plan, but I do think that investing roth ira money in an index fund does...

[Donnie]

You can look up ESG funds and try to find a good one. DSI from Blackrock is a big one. It will definitively have higher expenses and likely have lower...

[Donnie]

I wouldn’t take $10k to start playing poker even as a person who has won historically and has significant positive net worth. I never actually risked...

[Donnie]

It really is some strange perversion that people “root” for markets to decline on this forum so they can buy stocks “on sale”. Stock markets...

[Donnie]

Kamban wrote: Donnie wrote: No, it’s not stupid.  It’s inconsequential. Washing your car will make absolutely zero difference in your life.  Do it or don’t do it and neve...

[Donnie]

I have played in the past, but not for years. I used to multitable online games, playing about 1k hands per hour. I made about $25K over a couple years....

[Donnie]

As much fun as it is to play internet psychologist and to try to guess what WCI’s motivations are, I’m not sure what difference it makes. Let’s...

[Donnie]

We’d be in Japan.

[Donnie]

I guess if he doesn't put another one on, you guys will just have to put together a reunion event in 30 years or so to relive the glory days, Woodstock...

[Donnie]

sthealth_wealth wrote: Hi @donnie, I understand that, I’m just curious about how much of an advantage (if any) there is to maximize taxable accounts in lieu of tax advanc...

[Donnie]

I don't know what Bernstein means, but for high income professionals like most MDs this isn't an issue because you can do both.  You can max out your...

[Donnie]

If you can't find room for saving then you are spending too much money.  You are setting yourself up for $140k of fixed costs ($55k housing, $60k tuition,...

[Donnie]

As a start, the best thing you can do for your kids is fully fund your retirement so that your kids do not have to support you financially as you age. ...

[Donnie]

No, it's not stupid.  It's inconsequential. Washing your car will make absolutely zero difference in your life.  Do it or don't do it and never think...

[Donnie]

We can all agree that nothing can support a complete collapse of the US financial system.  The point of the $250k cap is to protect against idiosyncratic...

[Donnie]

...

[Donnie]

I wouldn’t do it. Putting basically 100% of your after tax income into rent is not a great idea. Sure, you are ahead of most other residents because...

[Donnie]

Seems generally ok to me, and I certainly wouldn't call it terrible.  I would invest the cash in brokerage 1 (which I assume is taxable).  20% (if I...

[Donnie]

Not a doc myself, but TDOC sounds interesting from what I've heard.

[Donnie]

Why not post some more detail here so folks can give you specific feedback?  Including details like type of accounts (Roth, 401k, taxable, etc), specific...

[Donnie]

I think it is fair for him to charge you and for you to pay him.  It probably shouldn't be the full amount, but as long as he did the work in good faith,...

[Donnie]

PhysicianOnFIRE wrote: Donnie wrote: PhysicianOnFIRE wrote: People like to question whether or not it’s a good idea to retire using the 4% rule when you have 25 years’ worth of expenses saved. But the fact is m...

[Donnie]

PhysicianOnFIRE wrote: People like to question whether or not it’s a good idea to retire using the 4% rule when you have 25 years’ worth of expenses saved. But the fact is many, many people don’t even have...

[Donnie]

B&M banks also provide signature guarantees / medallion signatures, which are somewhat harder to find than notaries....

[Donnie]

I would only spend time pointing out the underperformance of active funds, stock picking, market timing, etc. compared to passive funds. People tend to...

[Donnie]

These dividend strategies just skew your allocations in ways that you likely don’t understand. Diversification is your only friend in the market. ...

[Donnie]

950 sq ft house is pretty tiny. Not sure you need to make the jump from that to a $1.5M house given you have a three person family though. A $1.5M house...

[Donnie]

Buying a rental property on a resident’s salary is a bad idea, especially when you would be borrowing from family to do so. Focus on your primary objective...

[Donnie]

Vagabond MD wrote: Donnie wrote: Thanks for posting updates on Twitter, Vagabond, WCI, and others. Looks like a good time! I’ve been scanning the pics trying to identify POF Click to expand… I ...

[Donnie]

Target date funds are fine in retirement accounts. I wouldn’t put them in taxable. Keep cash you need in a few years in cash/CDs/savings accounts....

[Donnie]

Thanks for posting updates on Twitter, Vagabond, WCI, and others. Looks like a good time! I’ve been scanning the pics trying to identify POF

[Donnie]

You can check Twitter under #wcicon18. Looks like a good turnout, good talks, and fun times!...

[Donnie]

Vanguard created these funds for beginners, so in general, target date allocations are fine. Are you planning to retire in 2035?  If not, why did you...

[Donnie]

Perhaps the message you should take from this experience is that the occasional “shisha pipe” (whatever that is) is more dangerous to your health...

[Donnie]

Just my own personal experience. In my line of work, I meet a large number of founders of private equity managers and private companies. The successful...

[Donnie]

I don’t think many of the posters in this thread have worked in corporate America, but eccentric, tyrannical behavior is common in very successful businesses...

[Donnie]

No one on this forum is Dave’s target audience. Maybe he gets stuff wrong for high income professionals, but he is targeting the average US household...

[Donnie]

Earn less money.

[Donnie]

thevaluedoc wrote: Dont_know_mind wrote: Valuedoc, please re-examine your thinking. Do you know anyone who became significantly wealthy by doing what you suggest or thinking as you do ? Your ar...

[Donnie]

The point is that a rational, efficient market will not price risky assets to generate a negative return. Therefore buying and holding is not market...

[Donnie]

...