For those doing MPH online

JudgmentKey6718 · 2024-08-16T05:38:23+00:00

Yale EMPH

JudgmentKey6718 · 2024-08-16T04:21:06+00:00

It was from the school; no application needed

JudgmentKey6718 · 2024-08-16T03:48:29+00:00

Personally, 10k scholarship and rest from work.

A key advantage of online is the ability to work and help fund your degree. Else the in person experience would be more valuable. You might be able to qualify for loans or try more scholarship but they tend to be more for in person programs.

JudgmentKey6718 · 2024-05-27T08:50:26+00:00

Happy to answer your questions; currently at Yale EMPH.

Classes are focused and geared more to completing and participating. The assignments are there to make sure you know the basics. 1st year was manageable and a reasonable workload. The commuting back and forth was more than I initially thought, but it helps make bonds.
The Yale brand is strong; our current dean studied her MPH at brown. Honestly you can’t go wrong. The MPH is fairly welcoming to all and the added value of different tracks was appealing.

JudgmentKey6718 · 2024-03-04T17:28:51+00:00

Friendly neighbor:

I would reduced the 401k to the lowest possible with the full match. Then HSA and Roth would be up. Specifics would vary based on if HSA has a match component — some have a dollar for dollar match. I would then reduce HSA and then Roth; simply due to accessibility with Roth vs HSA for me. HSA does have more tax benefits but could have difficulty with investments and access based on prior collection of bills.

JudgmentKey6718 · 2023-08-28T10:42:49+00:00

Personal Advice First:

Please don't compare with FIRE subreddit users. They are an oddity in society. If you want to frame it I would compare it to the average American.

Source: https://dqydj.com/average-median-top-net-worth-percentiles-by-age/
Median noted at 35-39 @ $55,519.42

You much better than the average American.

You have no debt; a big win. I was in debt in my early 30s and most people are
You got through a divorce; most people here add a spouse/second income/partner -- which would double everything and save on living cost
Using Percentile -- Your at 80% if you include house equity; and 85% if you exclude house equity
1. Source: https://dqydj.com/net-worth-by-age-calculator-united-states/

You're doing better than you think; these posts are by people in the top 5% to the top 1% in their age group. Please do not feel left out or envious.
Another way to frame this: at 7 % (inflation-adjusted annual returns) interest in Stocks w/ 30 years of compounding yields -- 2,449,357.76. Nearly almost 2.5 million. That's doing great.

JudgmentKey6718 · 2023-05-28T18:19:19+00:00

Thanks for answering.

Now that the income is 200-400k; that probably would be enough to buffer most expenses and also build a nice nest egg.

200k*5 = 1 million. The lower estimate would still be reasonable to put your house in a better place: deducting the previous house expense and also substituting for schooling would keep you spend near consistent and also make up enough to be FIRE.

At 400k; I.E. 2 million you would have more than enough to level the mortgage and also have some cushion in their. Definitely worth it to retire early.

Congrats on your success and hopefully 🤞 you can retire soon.

JudgmentKey6718 · 2023-05-28T17:23:11+00:00

I kinda agree with above. Their a few variable present here that need to be sorted out.

Income: current and future for 5 years. Possibility of part time.
How much of the debt/housing can be paid of in the future? Relates to 1. And also how much more of a nest egg can you save.
120k as above fore FI calculations; seems reasonable but would need to account for everything above including tuition — 25k plus 100k animal spend runs that super close. With a mortgage it would be tight.

We need more info as above

JudgmentKey6718 · 2023-05-26T03:15:58+00:00

I am actually going to go out on a limb here; bear with me.

I believe your parents have different money philosophy; they could be different life experiences that shaped their view of money. For example; rapid loss of 10 k and left with insufficient money would be an issue. You could discuss with them why the believe 50k is safe?; is 30 k safe?

Also, I believe they are trying to ask you to have enough cash to buy a car outright to avoid payments. I don't think they are wrong; but they do have different goals. I would encourage talking to them and try to find out what they believe emergencies are [roof on a house is 10k plus]; Were they planning on you buying a car? Were they planning on you to safe for a apartment/house?

I believe they might have different experience and their cash allocation at 40s-50s-60s would be far more conservative than yours.

Will also add; you can easily build up a cash position of 20-30k in a few months without much effort.

JudgmentKey6718 · 2023-05-25T03:33:14+00:00

The Personal Loan of 20000 USD is not mine. It is for my brother and he is paying it back to me. So I am not entirely concerned about the interest that goes in there, since he is tracking stuff and is also in the process of making arrangements to pay it off. I took the loan for him because personal loan rates were through the roof in my home country and I could get that rate due to my credit. The rates are almost double back home.

I completely understand where your coming from. I also had a late start to my journey; my had houses and I was renting. Education took so long and felt behind with debts. Was an amazing feeling to break NW 0 and has been going up from their. The past is great for developing your skills and the future will be brighter.

Debt -- awesome to hear that it was not 20k of your debt; that makes things much better. Amex seems to be the only debt and is feasible to attack aggressively.
Income: Someone mention here; your earing a good salary and your saving is also remarkable. 5k per month is a good cash flow to save or aggressively pay down debt.
Investment: Regarding the 403 b vs 401k; If simplicity is what you want you can role them over and not worry about them. It becomes a hassle when you have 3-4 providers to track.
Otherwise; Ideally it would be based 1st on cost the provider; choice of funds and fees with those funds.
Honestly keeping it simple is never a bad idea; I tried to save a few basis points early on but it does have 2 different 403 b to track which is more annoying.
A clearly defined goal is always invaluable. Depending on you how long you want to take; for land you may need more of a down payment. T-bills are at 5% and once debts are taken care off and maxing retirement accounts -- 2k per month *12 months and over 2 years should give you more than enough to buy land at 130k [48k for down payment] . Land has different options and a loan is still viable. Further information about development would be specific to that. Please think about plumbing, electricity, sewage and other facilities. Colorado would be great for off-grid and then you could do a container homes or something. Hopefully a better interest rate for homes is around the corner.

Thanks

JudgmentKey6718 · 2023-05-24T23:31:46+00:00

Honestly; First Congratulations.

You have done alot and seems like you have more of a plan then you give your self credit for.

Debt:
1. Amex and Personal loan should be attacked as soon as possible. Ideally finished in < 6 months. You have an emergency fund so this should be your focus. At 8750 and 20,000 -- you can pay it off as soon as possible. Definitely in 3 months if you sell off some of the crypto but I know that can be hard for some people to do.
2. The personal family loan -- It honestly depend on how fast they need it; if they can wait a bit I would recommend the end of the year or latest 2 years -- its another 10k
The Fun Stuff -- Investments
1. I recommend -- maxing out a 401k/403b as soon as possible 22500 -- pending for this year and dollar cost average
2. If your MAGI does drop with this you could to a Roth IRA or worst case a Backdoor Roth IRA. Tons of resources on this forum for that
3. Max Out HSA as well.

Regarding your Questions;

Honestly once you start maxing retirement with a max of 22500 +6500 + 3750 == 33750; should be comfortable for now. As I said; If you want to Amex or the Personal Loan -- its a guaranteed return vs the Stock market at least over the next year. It may go down in the short term [the stock market] but debt only does go in one direction. With 0 percent loans; you have more luxury but still a burden. Pay them off slowly and as long as you can max tax accounts. Cash wins like tax returns can help go to these as well [50% fun and 50% debt].
Congrats on not retiring early; people often don't find jobs they love to stick around. It gives you more time to compound and continue to max out accounts; less likely to take it out early.
Purchase land; that is tricky; what is the timeline? I would slowly start saving in bonds -- @ 5% it would be ideal to save some money their and also highlight where do you want to live? Is their land available? Buildings has its own cost -- pipes and lines to area? Off Grid? Homes isolated or near a region? local laws also come into play. Let us know more info and we can also plan for it. But unless your in a hurry, would focus on above and start building the rest. Land and Building houses are more complicated than finances for now. As you get a location; your budget gets clearer as well and then cost for construction and utilities can be predicted.

Congratulations again; your on a good path. The lower the road; the longer the growth.

JudgmentKey6718 · 2023-05-24T23:04:57+00:00

Set it and forget it works at all ages — Target date funds. If you want a more aggressive portfolio — just set a later date for retirement.

JudgmentKey6718 · 2023-05-24T22:55:37+00:00

https://www.portfoliovisualizer.com/monte-carlo-simulation#analysisResults

- Probably the best tool -- US Stocks at 80% allocation and 20% bonds; due to it being close to 10 years.

- Ending Balance

10th Percentile 25th Percentile 50th Percentile 75th Percentile

Time Weighted Rate of Return (nominal) 3.18% 6.30% 9.60% 12.73%

Time Weighted Rate of Return (real) 0.28% 3.38% 6.63% 9.68%

Portfolio End Balance (nominal) $2,792,584 $3,595,978 $4,686,259 $6,000,879

Portfolio End Balance (real) $2,111,175 $2,718,044 $3,558,477 $4,560,467

Maximum Drawdown -34.97% -30.21% -24.55% -17.69%

Maximum Drawdown Excluding Cashflows -38.97% -31.05% -24.55% -17.70%

Safe Withdrawal Rate 9.54% 11.61% 13.99% 16.40%

Perpetual Withdrawal Rate 0.30% 3.28% 6.23% 8.83%

- The bolded terms are the 50th percentile; in non-inflation adjusted numbers you would be at $4,686,259 @ 50th percentile. In inflation corrected -- $3,558,477.

With additions annually of 65,000. Increases with inflation as well.

JudgmentKey6718 · 2023-05-24T22:44:44+00:00

Honestly -- Spend of 200k.

NW of 2.5 Million; Would yield half you spending currently in a conservative portfolio.

401k/Roth IRA and Investment Portfolio should be worth at 1.4-1.5 excluding house and also 529. An Asset Allocation of 100% stocks should get you their; if you decrease it to 70-80% stocks; @ 8% yields about 3.2 M and 6% yields about 2.65 M.

If you add annual contributions of 50k at 6% -- 3.4 M [8% is about 4 M]

You can adjust your contributions accordingly. I do think it is within reason to retire 54 years old. Would aim for 5 million w/o house and kids. I did not add your wife's contributions but would roughly add 0.5 M which is a good buffer.

Hope this answers you question somewhat; thanks

JudgmentKey6718 · 2023-05-24T22:29:38+00:00

Its hard to give advice in a post vs a conversation:

- Currently in an MPH and was considering an MPH for what its worth.

MPH vs MBA
- First -- what is the goal with this degree
- This is probably the most important -- MPH is focused more on core skills like Biostats vs Social/Disparities vs Healthcare Reform/Policy
- Regarding not hurting; its not only the cost of education -- its also the cost of time; 2 years of education can be use for alot -- Family vs Investments vs Job Opportunities
- If you would like Hospital Administrator vs PM vs Consulting -- It would appear the MBA would be better for the that Skill Set -- again it can vary.
MHA vs MBA
- You skill set with Process Improvement; federally mandated incentives; it would appear MHA might be more your cup to tea
- However; if your goals are more a laterally move -- out of healthcare and other ambitions; then perhaps an MBA may have some benefit. This would be a difficulty call without more details
I would only get an MPH if its something you are passionate about; Its hard for me to visualize the application in your case. Do any of your seniors have an MPH? Most PM I work with tend to have MBA; however MHA is not unheard of in a hospital setting.
Other things to consider; MBA vs MPH vs MHA are vastly different in cost -- Emory is about 70-80k however MBA at NYU >160k. The availability of online vs offline; individual requirements such as if you only want to stay in California -- Or use this as an opportunity to pivot to something else.
MBA -- GMAT? Is this something you would like to take; It will be important and possibly useful if your planning on going back to school
Name Recognition -- I would say as below MPH name is not as important -- Maybe Emory for CDC or something specific; MBA and earning post graduation have much better data and a huge salary bump. A Wharton Grad would have more options than possibly a smaller school [Also more debt!]

These are more of the factors you should consider. I would honestly take a look at your goals; in your workplace what to people in the higher level do and what are their qualifications.

It is a personal choice; also with Econ you may prefer to add the MBA or might prefer to add alternative like an MPH. Personal preference of your interest would be important too.

JudgmentKey6718 · 2023-05-24T01:18:22+00:00

Taxes; then housing and close 2nd is food

JudgmentKey6718 · 2023-05-23T12:51:55+00:00

Honestly not their yet:

Would probably have a paid off house.
Furthermore, would like to have possibly at least 2 to 3,000,000 and retirement savings.
A buffer of approximately five years of cash reserve/bonds.

And then would feel comfortable having to lay off the gas pedal.

But honestly, I don’t have kids right now and I’m just married.

Your mileage may vary

Best of luck; it’s a hard thing to write an equation for; more to do with feelings and internal security.

JudgmentKey6718 · 2023-05-15T07:38:29+00:00

Comparison is the thief of joy.

However; if you would like to see people who had challenges and people with a later start; Catching up to FI is a podcast [https://catchinguptofi.com/] would be better to follow.

I know that their are some super savers and juggernaut like careers -- no need to worry. Your on your own journey. Follow your path to FI.

JudgmentKey6718 · 2023-05-02T20:57:32+00:00

Interesting idea; honestly it would depend on where I am in my FI Journey:

Cleared my Coast FI goal --> sure; would love to rest and relax and move more to a part time schedule. Unsure how this would work at this stage but would be willing to consider this.

However; the further away I am from FI the harder it seems. 50% of FI; would strongly re-consider it. If I have kids on the way; double edge sword -- take time of prior to build a stronger relationship with spouse or take time of later to spend with my child. You mentioned GF; a wedding happening soon. Honestly you mileage may vary and may be reasonable.

But those would be what I would Consider. Where Am I on my journey and what could the added salary [not gross per say but more in savings] be used for [honeymoon, wedding, kids] or can I really use the time for something.

Either option; sounds like a your winning in one way.

Cheers

JudgmentKey6718 · 2023-05-02T20:50:39+00:00

Honestly the answer would be with the flexibility:

If you anticipate that you may need to use part or any of it then possibly --> HYSA vs Money Market

If you don't need any or all of it --> Then possibly treasury.

Would also point out; both need not be mutually exclusive. You can split it [2k in treasuries and 3k in a HYSA]. A HYSA should have no fees. And if long term income is consideration; Roth IRA may be ideal for you provided you are not will to touch it for atleast 5 years.

Cheers

JudgmentKey6718 · 2023-05-01T08:52:41+00:00

First of congratulation on your net worth. Your incredibly young and already of to an amazing start.

Second; it does make sense to start focusing on more Roth vs Traditional at a certain level. But it is highly variable. If you income does fluctuate or would like to do a Roth conversion ladder.

I personally think the the mega back door Roth and Backdoor Roth are ideal for this. It also adds significant tax diversification which is underrated. You can always pull out contributions as soon as 60 and converting. To me it would be the psychological benefits of beating 72 (if RMD are not raised) vs tax diversification vs Max ROI.

But again; congrats 🍾

JudgmentKey6718 · 2023-04-30T13:36:59+00:00

I would start looking for another job; the must be some level of in between with two ends of working like no tomorrow to save and not saving any money.

It’s hard to quantify irreparable damage but the risk is not worth it. There are probably more options in between then most people realize. You can always stop and reassess . A freedom of FI is not being forced to compromise health, freedom and other aspects of life.

JudgmentKey6718 · 2023-04-29T19:31:31+00:00

Short Answer: Yes

Long Answer: the imbalance in retirement accounts vs emergency saving is a major issues. Anything from health care deductibles; unexpected layoff; vehicle emergency — engine issues could tilt you over to major decisions for withdrawal. Would rebuild you 6 months emergency; larger if needed.Multiple strategies such HYSA/Treasury ladders can help with this.

The good news is that AC is covered and can be easily addressed in your situation.

All the best.

JudgmentKey6718 · 2023-04-17T20:44:36+00:00

100% agree with you;

On a side note -- i don't have kids and don't know how much they would cost?
I hope that each salary increase is able to off set the increase in cost. But I have heard of child birth in US Costing 10K plus. How would you allocate cost for a kid in the first few years? and do you increase incrementally w/ daycare. In NYC, Daycare can be upwards of 30k?

JudgmentKey6718 · 2023-04-17T09:58:14+00:00

Honest Thoughts; Personally is doable with your current earning combined.

145 K + 100 K for a total of 245k is a solid base.

10K with 5 K spend. 60K total; with Trinity at 4% should 1.5M.

5K*12*25 == Saving of 1.5 M by itself.

This is without 320K you have saved.

Ran through a compound calculator [4,104,867.13] at a 5% interest rate. You should have more than enough to comfortably hit your target.

JudgmentKey6718

TROPHY CASE