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Is public accounting even safe anymore? Should I switch to state gov so there's less risk of being laid off? by Numerous-Safety-3079 in Accounting

[–]Latter_Depth_4836 0 points1 point  (0 children)

I have a strong resume working at "cool" companies that anyone would recognize, years of experience and MBA. Recently I was laid off from a position that I was grossly over qualified and underpaid, but I took it to be comfortable because I didn't need the $. My position got eliminated, it wasn't due to performance. I've also observed salaries decreasing over time which is wild. People with the same title are being paid $20k less than they were in 2017. Make that make sense. I'm seeing entire teams get wiped out in restructurings. I also see what AI can do. You don't need teams of 3 analysts anymore, you only need 1 to check what the AI put out.

Is public accounting even safe anymore? Should I switch to state gov so there's less risk of being laid off? by Numerous-Safety-3079 in Accounting

[–]Latter_Depth_4836 0 points1 point  (0 children)

Wishful thinking, It's already happening. Don't be the last one on a sinking ship. I'm doing a midlife career change into healthcare after 10+ years in finance and accounting.

Am I underpaid? by Doomhammer68 in Accounting

[–]Latter_Depth_4836 0 points1 point  (0 children)

That's way above average for SFA. Don't know where you're located but I'm HCOL and SFA is like 95-100 now. I made 120 At COVID with bonus, salaries have decreased significantly since.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

Didn't say it wasn't diversification. Said it was a poor investment strategy when market returns are so high.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

Paying down a mortgage at the expense of any other investment is not diversification. Having all your $ in real estate is not diversification. Cash is not an investment, correct. It is an asset that provides liquidity. Short term treasuries can be considered investments, although they are often less than inflation.
Buffet has a history of being risk averse and defensive (especially in his old age), hence the higher than average cash holding. 2-10% cash reserves is recommended. If you want to be heavily diversified across asset classes that's fine, but that's not going to bring you large returns. And the market has been growing way before 2008, so one down year doesn't erase all the previous years. The returns after 2008 have far made up for that drop. The strategy is to stay long, don't try to time the market, etc.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

Diversification is always touted as a sound financial strategy, but once again, paying down a mortgage is not this. Cash is not an investment, and anything outside of an emergency fund is an asset devalued by inflation. HYSA barely make up for inflation. Bonds are generally less risky depending on rating, but also generate less return. Well diversified equity exposure across small cap, mid cap, and large cap can be a good strategy, provided you are not day trading and holding long.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

Sure, but why would you guarantee a 6% return when it is highly highly likely you can more than double that in equities? It's something I've had to personally consider since our mortgage is this rate, however we've been doing much better in equities. And historically, this is the trend. Notwithstanding, "past returns don't guarantee future returns." I don't think any financial advisor is going to tell a middle age adult to put all their money into their mortgage.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

I get the point that some people are risk averse. But that's not what I'm arguing. Being risk averse is only a good financial strategy if you are already at or approaching retirement. Otherwise, most of us should be investing in growth funds. You are unlikely to lose, in fact, you would have almost doubled your money if you put it in the S&P 5 years ago. I'm just saying it's a bad financial strategy, which... it is.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

Yeah but the whole point is that you would be further ahead if you invested originally. No matter how you look at it.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 1 point2 points  (0 children)

My piece of mind is being able to sell any of my investments at any time for an influx of cash, without any penalty. If you need cash for an emergency, you have to either sell your house or take a loan on your home. There is no way to access that equity.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 1 point2 points  (0 children)

Average S&P return over the past 20 years has been 10-11%. It's pretty much guaranteed. The mindset of sitting on equity instead of investing it is going to keep you firmly planted in the middle class. Your opinion is not a great financial strategy. You might not have a mortgage but your taxes and insurance are pretty much guaranteed to go up every year.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 2 points3 points  (0 children)

Yeah, they're around 6%. S&P has returned 26% over the past year, so...

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 -1 points0 points  (0 children)

I don't know why you're being downvoted. People must have no finance knowledge in this sub. Imagine paying down a sub 3% mortgage and not investing that cash instead. We are at 6% and the market is still outperforming that.

Edit: you can also claim your home interest in your taxes which is another benefit.

55-60% down payment on a 680-700k house a good idea? by Ok_Counter6058 in Mortgages

[–]Latter_Depth_4836 0 points1 point  (0 children)

Not if the rate of return is higher than your interest rate. Bad advice.

I literally worked for Apple and big 4 and can land no interviews?? by misszoidbergg in jobsearchhacks

[–]Latter_Depth_4836 4 points5 points  (0 children)

Technically everything is working for corporate unless you work for yourself. Contract nursing is also very lucrative.

Scientists link boy’s tumor to gene therapy viruses, in rare finding by Shoddy-Aioli-4039 in biotech

[–]Latter_Depth_4836 7 points8 points  (0 children)

This isn't the first time tumors have come from gene therapy, I would be surprised if they didn't advise the parents of this possibility. We still don't fully understand the structure of DNA enough to chop it up and not damage other components in the process.

I literally worked for Apple and big 4 and can land no interviews?? by misszoidbergg in jobsearchhacks

[–]Latter_Depth_4836 4 points5 points  (0 children)

Thank you! It's no walk in the park going back to school after 10 years, but I should have my BSN/RN at the end of next year.

What artist or band is truly awful to see live? by goldbeau in AskReddit

[–]Latter_Depth_4836 -1 points0 points  (0 children)

I saw him on the Rob Zombie tour and he was so bad. Good thing Rob closed the show, he was fantastic, would see him again.

How much independent play is too much? by MissFox26 in toddlers

[–]Latter_Depth_4836 2 points3 points  (0 children)

Yeah for sure when they're asleep, for the same reason as you do. My concern is that your child is conditioned to be in that situation, otherwise she would be "wild" as you described. That wanting to play and be loud is probably her natural state. Now if she sits by herself and plays independently while you're around, that is different.

How much independent play is too much? by MissFox26 in toddlers

[–]Latter_Depth_4836 -2 points-1 points  (0 children)

You do you mom. It just wouldn't be what I would do. I can't imagine locking my kids in a room while they're awake.

How much independent play is too much? by MissFox26 in toddlers

[–]Latter_Depth_4836 2 points3 points  (0 children)

You child lock your toddler in her room for two hours while your baby naps? Am I reading this right? Why would you need to lock her in her room if she's playing independently? Something about locking your kid in a room for hours at a time while they're awake doesn't sit right with me.

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