Excellent piece, but I'm surprised New Job isn't offering you any relocation. World's Largest D-Bag Move firm! Or are we at a point now where jobs are so competitive that companies don't even bother offering that any more? Yuck.
@forget it i quit Yep. While I might agree that class-based judgments can perhaps be less morally repugnant than race-based judgments, I wouldn't do so on the basis that "there is an element of choice in outward manifestations of wealth." In part, this is because I don't really understand why I should care about someone's outward manifestation of wealth. While the author may feel "safe" making certain assumptions about the moral character of people who drive BMWs, what's the benefit of doing so? Forgive my potentially obtuse read on all this. I think there's a very interesting discussion somewhere in here, but I'm finding it masked by the "what you buy/what you drive/what you wear" lens.
@annawiener No need to overguilt yourself! That isn't really an absurd amount to pay where you are at all. In a vacuum, sure, but anyone can hop on Zillow or Padmapper and quickly realize that you are a reasonable human being.
@HelloTheFuture And not just a new one, but one held by private equity, whose approach to industry is more "transform and sell, then find another one" than "run a business employing these particular 40 people long-term." Bernie definitely has some old-school tendencies, perhaps to a fault. Wanting to do initial face-to-face interviews and craving on-the-spot handshake agreements (STRONG AS OAK, JERRY) is nice and folksy, but not necessarily a realistic way of maximizing your candidate pool.
Fascinating piece. I cannot empathize with the author's curiously parasitic contentment, but I liked reading it. Of course, now what I really want is to read her perspective.
The 3% free/5% match into a 401k from Option 1 is one of the best benefits a company can offer. Too bad the work would leave Maggie bored. Offer 2's "rogue" team sounds good, but might not last in that format. Groups that exists outside the rules get to do that only until they don't. Creating a position for her and offering the ability to work from home is pretty cool, though!
@Morbo Sure, but we're talking in the context of a long-term retirement investment. Those concerns really dissipate over time as the market grows and holdings of index funds change, and short of trying to time the market--usually a bad practice--I don't see long-term downside. How is any other long-term investment vehicle not subject to the same general market vulnerabilities, while also often being at a higher expense ratio? I don't follow the correlation to the housing crash, unless you're specifically investing in, say, the Nasdaq Housing Index.
@Morbo So I like most of your advice in this thread, but I don't understand your final assertion. How could index investing be "the next big downfall" of anything, barring a market crash? All you're doing with an index is saying "yep, I'd like to invest in THE MARKET." Sure, if you focus only a particular segment or sector instead of a total stock market index, you're susceptible to Japanese investments or tech stocks or whatever tanking, but then that's just a failure to diversify, which has nothing to do with index funds themselves.
@gyip The stock market as a whole flew up about 30% last year, so somebody invested in basic funds could have made (or made back) a lot of money. It also plummeted even more than that to kick off the recession, so timing is everything. Over the long term, the whole market is good for an average of 6-8% returns a year, but it can move in big swings year-to-year.
@wallsdonotfall Someone who's 21 and coming from sharing a 200-square-foot room might not care so much about fixing those things, at least not right away. I know I lived in some questionable digs at that age. Of course, having the mortgage payment covered by rent would also give her quite a bit of freedom to make the repairs.