zhdc1

26 ms·

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by zhdc1 5y ago
If we want to be pedantic, I was using the median - family - income estimate from HUD, which includes Puerto Rico and extrapolates off of the 2018 ACS. The Census Bureau, which lags by a year or so, puts the figure at $86K.
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by zhdc1 5y ago
> Is there anyone here who has gone from being extremely irresponsible with money to having savings? How do I get over the trauma of my grandparents losing millions of dollars in the 2008 financial collapse, which happened right as I cam
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by zhdc1 5y ago
Tax deferment and stability.
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by zhdc1 5y ago
> So sure, their advice might work for the top 5%, but the rest of people will never "get rich" using that advice The median household income in the United States is $79.9K. Assuming that a family of four can live on $50K (incl
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by zhdc1 5y ago
> If I had to give 1 bit of general financial advice though: develop your talent stack. This is crucial, but having a relatively high savings / investing rate is as important. > And baring some health issue, nobody can ever take
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by zhdc1 5y ago
> there's a "dirty little secret" that this article doesn't mention: most of them never get paid a dime by their own business. They are spending their way through a business loan, or they have family money, or some ot
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by zhdc1 5y ago
In the social sciences? If they're reproducing the earlier results with the original data and code, the results should be exactly the same. If they're replicating with a follow-on study of some kind, it depends on any number of fa
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by zhdc1 5y ago
> That’s not how the whole economy works, but it is a potential failure mode There are others. E.g., if you're line of work doesn't allow for high-status recognition (e.g., a blue collar job), being good at what you do will li
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by zhdc1 5y ago
I'm pretty sure this was discussed in an earlier HN post. However, I want to point out that "not replicating" doesn't necessarily equate to bad science (or, more accurately, bad practice on the part of the principal inve
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by zhdc1 5y ago
> If getting into top (TOP!) universities correlated with education/aptitude alone, the wealthy would pay more to get thier kids educated but the best teachers. But they don't do this, they pay to dollar for their children to g
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by zhdc1 5y ago
Simple text files along with any sort of note organizer are a great alternative for organising zettlekasten notes. Take 7-10 articles on a subject -> diagram and extract main sentences into a text file -> reorganize all of the extract
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by zhdc1 5y ago
> Use org-roam for a zettlekastem notes (that count to the 500 word limit It isn't necessarily in the spirit of your post, but online kanban-like boards and zettelkasten notes are another option for those who aren't technically
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by zhdc1 5y ago
It does, but it's absolutely spot on. Especially the part about daily writing.
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by zhdc1 5y ago
> do we really need to know breaking news, instantly? There are good reasons, although I share your general concern. E.g., if you believe that you may be affected by an event, or if it's important/relevant enough that others wi
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by zhdc1 5y ago
Actually, I've found that they tend to be fairly accurate at reporting 'what' is happening - it's hard for several people at the same time to post unique, fake videos of people driving around with guns while others are p
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by zhdc1 5y ago
I'm skeptical. Blogs are difficult for subject matter experts (people skilled in a domain, and not necessarily skilled at making money off of the web) to monetize.
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by zhdc1 5y ago
Social media - at least, Twitter, but a couple of other sites before that - is still the go to source for breaking news. It can take tens of minutes to hours for major news sites to report on a breaking event (e.g., the fall of Kabul). Mean
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by zhdc1 5y ago
If the average one bedroom apartment in Manhattan costs 3.5K USD a month, and the average one bedroom apartment in Queens costs 2.5K USD a month, the average one bedroom apartment in Queens costs 1K USD - less - than the average one bedroom
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by zhdc1 5y ago
While it's pedantic, in sociology and related fields, status is almost always conceptualized in terms of peer-group connections anyway. So it would be incorrect to say that General John Smith had high status simply because he was a Gen
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by zhdc1 5y ago
> For example, early in ancient empires, many rose in status via winning military battles, or perhaps by building new trading regimes. But later in such empires, status was counted more in terms of your connections to other statusful peo
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by zhdc1 5y ago
> There are no one bedroom apartments in Queens that are $1K USD a month The median rent for a one bedroom apartment in Queens is 1K USD - less - than a similar apartment in Manhattan
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by zhdc1 5y ago
> No, it does not. Yes, it does. Let's take NYC as an example. At median rents for a one bedroom apartment, living in Queens instead of Manhattan saves approximately 1K USD a month, which equates to 60K USD over five years. Going wi
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by zhdc1 5y ago
Congratulations!
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by zhdc1 5y ago
We know one couple who makes FAANG level income. They have a very nice apartment, but otherwise are as reasonable with their spending (from what we’ve seen) as everyone else. The rest of our social circle is decidedly middle income. We also
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by zhdc1 5y ago
> That is until they wake up in their mid forties/early fifties and realize the entire life passed them by This only happens if you equate life satisfaction with your car brand or the size of your house. A depreciating 50k USD car a
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by zhdc1 5y ago
Stagnant median household income in the US is largely a myth. It hasn't increased as fast as it probably should have (54k in inflation adjusted 2019 Dollars in 1984? -> 69k in 2019), but it has gone up a fair amount. Expenses have i
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by zhdc1 5y ago
The funny thing is that all of those things aren’t that gratifying either once the newness wears off. Ok, maybe the Tesla is, but anyway.
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by zhdc1 5y ago
Most pensions aren’t going to give you more than 1-2% over the risk free rate. You’re better off aiming to save another x% more of your after tax income and investing through your pillar 3 equivalent (IRA in the states) and, once your tax a
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by zhdc1 5y ago
Amazing. Thrift, savings, and investing are now apparently triggers for the HN downvote brigade.
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by zhdc1 5y ago
Don’t put your money in low interest savings accounts. You can average 7.5-10.5% a year by investing in low fee index funds. Even with the market as inflated as it is, you should still see returns significantly higher than what you will get

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