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Old 08-08-2014, 10:06 AM   #61
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I don't see it as such, but some people think getting a puppy three years into retirement would be a mistake both for the cost and the restrictions on our ability to just take off.
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Old 08-08-2014, 10:10 AM   #62
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James Clavell wrote a book years ago, I believe its name is Tiapan. In it he advised a younger key manager that had scored her 1st big win to consider this cash as her "screw you money"......because if she didn't like something she was asked to do, she could tell her boss or mega corp to "screw you". I've always treated my retirement account as my "screw you" money........I don't rish it with a 25/75 conservative portfolio at Vanguard. Now, once I saved that.....and it's as safe as I can make it, I spend/risk the excess however I want.....and, do things like buy a nicer car, fly 1st class if it's not too expensive, give my kids nicer gifts at Christmas, whatever I want to do within reason. I owned my own business..l...some with similar businesses made much more....some went bankrupt.....we all get to make choices....some who make 50k a year make better choices than others who make 500k a year.......I've been lucky, careful and now more than anything I'm really thankful!!!!!!!!!!!!
It is Tai-pan.

I have my screw you money now. The hard thing is not to screw myself with it in RE. Plenty of folks have done that, it seems.

Being successful in one business does not mean one will be successful in another. Most small business folks I've seen fail right away or go from one business to another and eventually end up with nothing much to show for.
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Old 08-08-2014, 10:12 AM   #63
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The part that bothers me is that it borders on psychopathy to be the hard nosed investor the billionaire mentions. This isn't my observation, I think we've discussed it somewhere on this board recently.

I don't want to be that person. I need some empathy in me. I think you hit the nail on the head though, Amethyst. Use my intelligence to see that world as it is and deal with it.
Not necessarily. I consider myself to be an empathic person. When the market was tanking, not only did I feel the pain of others who were watching their assets plummet- I felt my OWN pain! I could still, however, use my brain and my memory of earlier crashes to keep myself from selling at the bottom. One of my favorite Warren Buffet quotes: "When others are greed, be cautious. When others are cautious, be greedy". It's not that simple, of course- sometimes there's a darn good reason a particular stock is unpopular- but when the next crash comes (and it will), my main concern will be that I won't have new money from wage income to plow in during the recovery.
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Old 08-08-2014, 10:14 AM   #64
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I think the James Clavell book was "The Noble House", a modern day sequel to Tai-Pan.
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Old 08-08-2014, 10:27 AM   #65
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This is what I want to do; walk away and buy used. However, my wife want the cabinets/counters/tile that SHE wants, not that someone else wanted. She also wants a newly built house, not someone else's "dirty house." She has always had a problem with used things. I have to agree that purchasing a used home and refinishing everything will cost as much as building new, so we might as well do that.


We also have the problem that we want a modest (small) house in a very nice neighborhood. The house have planned is half the size of the other houses in the area (one to two mile radius). No houses like we want have come up for sale in over a year of looking.

I do not want to make my wife sound like a ogre, she earned half the money that will be paying for it, and this is the first splurge she has ever made in her life.

My real complaint is that everyone has dishonest with me at every step. If they had been honest up front, I could have decided whether or not I wanted to build and moved forward. Instead it has been: we can building you a house for 200K, well, not really, it's 300K. Oh, after further evaluation it is 400K. Oh, you also wanted an AC and plumbing? OK, its 450K. Well, we missed something, it is now 500K. I cannot take it anymore.

I feel for you Culture. Everything you have had to deal with, I haven't. I had a home built for me in a nice neighborhood. But the similarities end there based on scale and location. My "nice neighborhood" is a small town and 1500 sq. feet ranch with basement is considered nice. Being single I didn't have to deal with "added necessities" from a wife. I just basically said I want a 3 bedroom home with a gas fireplace and vaulted ceilings and they did the rest, though I picked out the ceramic tile and carpet, and lights. What was odd was it was built for me, but I didn't ever sign anything and could have walked away and he would have had to sell it himself. Only thing I had to yell at him about was the cheap bastard evidently thought an automatic garage door wasn't part of a normally built home. Well he quickly changed his mind when I said I wouldn't buy it without one.


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Old 08-08-2014, 10:28 AM   #66
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Wow, a $110,000 closet (500x220 sq ft).
If only it was just the closet :-).
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Old 08-08-2014, 10:39 AM   #67
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What was odd was it was built for me, but I didn't ever sign anything and could have walked away and he would have had to sell it himself.
While I think your builder is crazy, it is encouraging that there are people who still work on a handshake. My commercial construction jobs come with 75 pages of contract and 2000 page of specifications that you have to have a law degree, engineering degree and construction science degree to understand.
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Old 08-08-2014, 10:43 AM   #68
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You are exactly correct. You just put your finger on a problem that I was thinking about turning into a thread. "How can I become shrewder?" Intelligence does not equal shrewdness. All my life, I've observed people who seem to have been born knowing how to turn events to their own purposes, and wondered why they could do it so much better than I could. I'm still going to run the thread, because even though I am empathic, I can learn to be better at dealing with the world as it truly is.
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Fortunately for me, and am very empathetic one-on-one, and practically a sociopath outside of that environment. Thus, I have friends and a wife, and client like me. However, I have no problem using cold-blooded pragmatism outside of this context.

I find I am very different from about everyone else I run across. Most people seem to be all empathy or all sociopath.
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Old 08-08-2014, 10:45 AM   #69
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No. It's better if you do not even think about it, then you would not know what you missed.

But if you talk about Wally, Dilbert's coworker, he's the BIG winnah! Wally retired while at work.
I remember Wally's career goal: To work himself into a position where he had no effect on anything.
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Old 08-08-2014, 10:47 AM   #70
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Not necessarily. I consider myself to be an empathic person. When the market was tanking, not only did I feel the pain of others who were watching their assets plummet- I felt my OWN pain! I could still, however, use my brain and my memory of earlier crashes to keep myself from selling at the bottom. One of my favorite Warren Buffet quotes: "When others are greed, be cautious. When others are cautious, be greedy". It's not that simple, of course- sometimes there's a darn good reason a particular stock is unpopular- but when the next crash comes (and it will), my main concern will be that I won't have new money from wage income to plow in during the recovery.
If and when you buy during a market crash, think of it as an altruistic act. Somebody has to buy, else the dearth of stock buyers would drive the price even lower.

The late Sir Templeton, a famed value investor, said that his mission was to help people. When they wanted to buy, he sold. And when they sold, he bought.
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Old 08-08-2014, 10:50 AM   #71
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But if you talk about Wally, Dilbert's coworker, he's the BIG winnah! Wally retired while at work.
Perhaps this is where I should be headed. Do the least amount of work but just enough to fool my manager that I matter. Call me Wally jr.
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Old 08-08-2014, 10:58 AM   #72
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At my former megacorp, more than 1/2 managed to do what Wally did. Then, when I was doing contracting work at a mid-size firm, I was not there long but saw that there were a lot fewer Wallys.

Kilocorps - hey, you see this term here first - cannot afford so much deadwood, although some people pointed out that it is the deadwood (the core of a tree trunk) that holds up a tree.

As we all know, a higher percentage of a young tree is the actively growing part. For an old tree, a huge portion is just the deadwood at the center of the trunk. Companies are just like that.

PS. Megacorp: A corporation with more than 100,000 employees.
Kilocorp: A corporation with 1,000 to 10,000 employees.
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Old 08-08-2014, 10:58 AM   #73
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While I think your builder is crazy, it is encouraging that there are people who still work on a handshake. My commercial construction jobs come with 75 pages of contract and 2000 page of specifications that you have to have a law degree, engineering degree and construction science degree to understand.

Wow! One page into reading that, I think I would have been looking at the "used homes" for sale.


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Old 08-08-2014, 11:03 AM   #74
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Wow! One page into reading that, I think I would have been looking at the "used homes" for sale.


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Have a peek at a Variable Annuity contract and see how many pages of terms and conditions there are in one of those in comparison.
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Old 08-08-2014, 11:05 AM   #75
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During the last 10 years, at separate times, two young nurses (mid to late 20's) rented the house next to us. Both got jobs in California with signing bonuses. I heard they were going to start at around $100K.

If good nurses (top tier?) make this kind of money, I should have pointed my daughters into nursing instead of general business.
I think nursing is a great career for a young person. But I'm not sure they really make this much money. Maybe in CA. I have two daughters that are 25 and they are both RN's. They make around $55-60K in Texas. Still pretty decent for a young person. Hard to believe CA can double it but maybe so.
Also, I'm not sure the salary growth potential over the years is there for nurses the way it is for business and other professionals. Lots of flexibility and security with nursing though.
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Old 08-08-2014, 11:13 AM   #76
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I think nursing is a great career for a young person. But I'm not sure they really make this much money. Maybe in CA. I have two daughters that are 25 and they are both RN's. They make around $55-60K in Texas. Still pretty decent for a young person. Hard to believe CA can double it but maybe so.
Also, I'm not sure the salary growth potential over the years is there for nurses the way it is for business and other professionals. Lots of flexibility and security with nursing though.
The other thing about nursing is that it takes the right kind of person. I don't think the typical guy anyway can put down his beer and videogames and become a nurse. I've had the good luck to have known several female nurses well, and I like them. I regret that I never had the good sense to stay with one of them.

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Old 08-08-2014, 12:01 PM   #77
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I have two daughters that are 25 and they are both RN's. They make around $55-60K in Texas. Still pretty decent for a young person. Hard to believe CA can double it but maybe so.
Experienced RNs in Northern CA are in hot demand. A person I know makes $150k but she works a lot of OT. Even without OT, I think many are making 6 figures easily. But RN job can be pretty stressful (DW was an RN).
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Old 08-08-2014, 01:35 PM   #78
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The other thing about nursing is that it takes the right kind of person. I don't think the typical guy anyway can put down his beer and videogames and become a nurse. I've had the good luck to have known several female nurses well, and I like them. I regret that I never had the good sense to stay with one of them.

Ha
My cousin (female) is a nurse. She was making great money - more than her sheriff deputy husband. He looked around, realized he like the drama/intellectual issues that face an ER nurse - so he went to school and got his RN.

A few years later her brother was facing a career crisis. After 20 years as an engineer at a chip fab, rising through the ranks to middle management, but still doing hands on engineering, he was laid off. He had stopped liking his work years before - but it paid well. He took the opportunity to rethink things - and went back to school to become a nurse. He works primarily in the med-surg ICU. When he feels like he needs more money/challenge, he'll moonlight doing home visits for a hospice service.

Both my cousin-in law (husband) and my male cousin are about as manly as they come. As mentioned, one was law enforcement prior to be a nurse, the other lives on a ranch with livestock and horses, goes 4 wheelin' out in the desert backcountry, etc.

They were both drawn to the intellectual problem solving side of things - which happens in the ER, the ICU, and doing hospice. It helps that they are not skeeved out by blood, guts, protruding bones, etc.
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Old 08-08-2014, 01:46 PM   #79
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Wow! One page into reading that, I think I would have been looking at the "used homes" for sale.
Oh, this is not for residential construction. Here I am talking about building a mid-rise office building.
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Old 08-08-2014, 02:01 PM   #80
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My cousin (female) is a nurse. She was making great money - more than her sheriff deputy husband. He looked around, realized he like the drama/intellectual issues that face an ER nurse - so he went to school and got his RN.

A few years later her brother was facing a career crisis. After 20 years as an engineer at a chip fab, rising through the ranks to middle management, but still doing hands on engineering, he was laid off. He had stopped liking his work years before - but it paid well. He took the opportunity to rethink things - and went back to school to become a nurse. He works primarily in the med-surg ICU. When he feels like he needs more money/challenge, he'll moonlight doing home visits for a hospice service.

Both my cousin-in law (husband) and my male cousin are about as manly as they come. As mentioned, one was law enforcement prior to be a nurse, the other lives on a ranch with livestock and horses, goes 4 wheelin' out in the desert backcountry, etc.

were both drawn to the intellectual problem solving side of things - which happens in the ER, the ICU, and doing hospice. It helps that they are not skeeved out by blood, guts, protruding bones, etc.
I worked with many male nurses in the NICU. They were great guys, professionally and personally. One of them had tattoos dating back to his days in the merchant navy. I also know many senior nurses (in Canada) who earn more than $100k per annum. They are either managers with seniority at the top of the pay scale, or in advanced practice roles such as nurse practitioner. Most of them have higher degrees. Some general duty nurses can achieve this kind of income, if they do overtime. Given that hospital and public health nursing positions come with pensions, nursing can be rewarding both financially and personally, and will be in demand for the foreseeable future. Having said that, it is a very demanding profession.
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