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inefficiencies in small lot, near-term muni bonds prices?

Before you reflexively write back that the market has no inefficiencies and that bond prices always reflect the totality of perceived risk, please hear me out...after reading and careful contemplation, you are welcomed to write that if it is how you feel ;-) I've been looking at muni bonds on Zions ...
by 15202guy
Sat Oct 18, 2014 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: inefficiencies in small lot, near-term muni bonds prices?
Replies: 8
Views: 739

Re: strategy to get brokerage bonuses

The bonus does not count against any contribution max. It the same as if your account earned a dividend. Dividends and other gains do not count against any contribution max. That's amazing. Done strategically, you can potentially raise your effective annual IRA contribution 50% every single year! T...
by 15202guy
Tue Aug 26, 2014 2:13 am
 
Forum: Personal Finance (Not Investing)
Topic: strategy to get brokerage bonuses
Replies: 54
Views: 3842

Re: strategy to get brokerage bonuses

If I transfer IRA assets from one broker to another and get a bonus for the transfer of those IRA assets, then the bonus goes into that IRA account. Why is that interesting? Not trying to be a wise-guy, but it just surprises me, so I find it interesting :) With all of the rules/regulations about ta...
by 15202guy
Sun Aug 24, 2014 11:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: strategy to get brokerage bonuses
Replies: 54
Views: 3842

Re: strategy to get brokerage bonuses

So far my cash bonuses have been in tax-advantaged accounts, so no taxes due and no 1099s. But if there was a 1099 for a bonus paid in a taxable account, so what? Would there be a problem with that? Very interesting...the bonus goes into the tax advantaged account? Does that effectively let you exc...
by 15202guy
Sun Aug 24, 2014 9:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: strategy to get brokerage bonuses
Replies: 54
Views: 3842

Re: strategy to get brokerage bonuses

Sure go ahead. livesoft, thanks for your "first hand experience". ...move them back to Vanguard as ETF shares and then reconvert them to mutual fund shares. You may not be able to reconvert them to mutual fund shares as you plan. https://investor.vanguard.com/etf/faqs#conventionalMF Be on...
by 15202guy
Sun Aug 24, 2014 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: strategy to get brokerage bonuses
Replies: 54
Views: 3842

strategy to get brokerage bonuses

I think I have a strategy to capture brokerage bonuses for bringing in new money without harming my overall investment approach...please let me know if you see issues. For my taxable investing, I prefer to use all Vanguard index mutual funds...I find the convenience of mutual funds better for my sit...
by 15202guy
Sun Aug 24, 2014 2:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: strategy to get brokerage bonuses
Replies: 54
Views: 3842

Re: updated thoughts on BMBIX?

mindbogle, do you recall if the report talks about the underlying ratings of the bonds you assessed were likely insured? That would help better illuminate the real risk embodied by the non-pre-refunded portion of the portfolio.
by 15202guy
Thu Jul 10, 2014 2:45 am
 
Forum: Investing - Theory, News & General
Topic: updated thoughts on BMBIX?
Replies: 19
Views: 1938

Re: updated thoughts on BMBIX?

I'm really hoping that fredflinstone will weigh in, esp wrt this new data (or newly posted data) -- he is a big fan of this fund.
by 15202guy
Wed Jul 09, 2014 12:19 am
 
Forum: Investing - Theory, News & General
Topic: updated thoughts on BMBIX?
Replies: 19
Views: 1938

Re: updated thoughts on BMBIX?

15202guy, I made an important edit to my post above, in case it helps to "confuse you more", a little less. :happy MB lol Just to clarify when I said "confuse me more", I meant about what to do -- not your post itself. I was leaning toward establishing a position in BMBIX, but y...
by 15202guy
Wed Jul 09, 2014 12:18 am
 
Forum: Investing - Theory, News & General
Topic: updated thoughts on BMBIX?
Replies: 19
Views: 1938

Re: updated thoughts on BMBIX?

RNJ wrote:
mindbogle wrote:I did some research on this fund last year. The charts below...


Great post - thanks. Also a lesson learned for me in terms of digging deeper into a bond fund.


+1

Thanks mindbogle, this was a great contribution to the thread and is great data to have...although in some ways it confuses me more.
by 15202guy
Tue Jul 08, 2014 7:09 pm
 
Forum: Investing - Theory, News & General
Topic: updated thoughts on BMBIX?
Replies: 19
Views: 1938

Re: updated thoughts on BMBIX?

Thanks for your reply. I am considering adding it for the better credit quality, but you point out some downsides, notably the higher ER. I also still struggle with how to balance the higher credit quality with the significantly lower number of total holdings. I have been thinking a lot about my bon...
by 15202guy
Mon Jul 07, 2014 10:27 am
 
Forum: Investing - Theory, News & General
Topic: updated thoughts on BMBIX?
Replies: 19
Views: 1938

updated thoughts on BMBIX?

I am considering making a significant move into BMBIX (Baird Intermediate Muni Inst) to augment my taxable holdings in Vang Limited and Intermediate Tax Exempt. I have read all of the info I can find here on this fund, but the most recent posts seem to be from 2011. I just wanted to check to see if ...
by 15202guy
Sun Jul 06, 2014 3:19 pm
 
Forum: Investing - Theory, News & General
Topic: updated thoughts on BMBIX?
Replies: 19
Views: 1938

Re: diff between "pre-refunded" and "escrowed to maturity" m

Steve, vesalius, Thanks for the replies. They were helpful. And basically matched my understanding of the 2 concepts. Interestingly, the Fidelity site seems to treat them as mutually exclusive -- a search for pre-redunded bonds returns results, as does a search for escrowed to maturity, but if you s...
by 15202guy
Sun Mar 30, 2014 10:58 pm
 
Forum: Investing - Theory, News & General
Topic: diff between "pre-refunded" and "escrowed to maturity" munis
Replies: 3
Views: 369

diff between "pre-refunded" and "escrowed to maturity" munis

Hi all, I noticed that the Fidelity website has 2 designations for muni bonds, and I'm not sure of the real difference between them, even after reading Fidelity's definitions. Can someone please explain the difference between "pre-refunded" and "escrowed to maturity" muni bonds? ...
by 15202guy
Sun Mar 30, 2014 1:06 pm
 
Forum: Investing - Theory, News & General
Topic: diff between "pre-refunded" and "escrowed to maturity" munis
Replies: 3
Views: 369

Re: I-bond suitability for high tax bracket investors

Good points, thx for the comments. I agree that for many (most?) people, having to pay the tax all at once during peak earning years could make them less optimal than other often-compared investments. But it does seem that if you expect to be in the same tax bracket from your time of purchase throug...
by 15202guy
Sun Feb 16, 2014 6:01 pm
 
Forum: Investing - Theory, News & General
Topic: I-bond suitability for high tax bracket investors
Replies: 8
Views: 1084

I-bond suitability for high tax bracket investors

I was surprised to see the wiki article on I Bonds note that they "...may not be a suitable investment..." if you will be in a high tax bracket when they mature. Doesn't this same argument apply to all taxable investments? Are I Bonds in some way RELATIVELY worse than other investment opti...
by 15202guy
Sun Feb 16, 2014 5:02 pm
 
Forum: Investing - Theory, News & General
Topic: I-bond suitability for high tax bracket investors
Replies: 8
Views: 1084

Re: paying HSA Bank brokerage fee

I have no info about the fee issue wrt HSAs, but in the past I have paid Fidelity IRA fees from a separate account, and although anyone can make a mistake, it seems unlikely Fidelity made this mistake for several years.
by 15202guy
Tue Oct 08, 2013 7:37 pm
 
Forum: Investing - Theory, News & General
Topic: paying HSA Bank brokerage fee
Replies: 6
Views: 695

Re: paying HSA Bank brokerage fee

Thanks for reminding me about the separate fee for the low bank account balance.

Is there a way to pay these fees from a different account? I haven't been able to find any reference to this capability online.
by 15202guy
Sun Oct 06, 2013 8:12 pm
 
Forum: Investing - Theory, News & General
Topic: paying HSA Bank brokerage fee
Replies: 6
Views: 695

paying HSA Bank brokerage fee

What is the common wisdom among Bogleheads wrt investing in Vanguard funds through HSA Bank? Do you generally recommend paying the $36/year to invest the entire account balance, or leaving $4850 in the (basically 0 interest) bank account to avoid the fees? I'd imagine the common wisdom is to invest ...
by 15202guy
Sun Oct 06, 2013 3:38 pm
 
Forum: Investing - Theory, News & General
Topic: paying HSA Bank brokerage fee
Replies: 6
Views: 695

Re: Quicken Deluxe vs Premier

Thanks for the input. My decision just became a little harder b/c now the price difference between the 2 versions is only $20 vs $40, so it is a smaller price to pay for the assurance I won't miss any features that aren't included in Deluxe.
by 15202guy
Mon Feb 11, 2013 1:03 am
 
Forum: Personal Consumer Issues
Topic: Quicken Deluxe vs Premier
Replies: 8
Views: 3019

Quicken Deluxe vs Premier

I currently use Quicken Premier and need to upgrade so I don't lose transaction downloading in April. I do NOT use Quicken to track tax lots, compute capital gains, etc. so I was thinking that I might not need the considerably more expensive Premier version. But I noted that a feature of Premier is ...
by 15202guy
Sat Feb 09, 2013 8:42 pm
 
Forum: Personal Consumer Issues
Topic: Quicken Deluxe vs Premier
Replies: 8
Views: 3019

Re: taxation of proceeds from life settlement policy

Thank you! I had not found that specific article. That makes it clear that the acquisition cost is subtracted from the death benefit. The wording in other sources I found was ambiguous.
by 15202guy
Sat Jan 12, 2013 7:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxation of proceeds from life settlement policy
Replies: 2
Views: 370

taxation of proceeds from life settlement policy

I have tried researching this question both online and by talking with life insurance companies, but am having difficulty getting an authoritative answer. I am hoping someone here can help. If you buy a non-term life insurance policy from someone for its cash surrender value, how does the amount pai...
by 15202guy
Sat Jan 12, 2013 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxation of proceeds from life settlement policy
Replies: 2
Views: 370

Re: first-time portfolio review for a long-time lurker

As a meta-comment about our ongoing discussion, one of the themes that keeps coming up is simplicity across accounts, and simplifying holdings by eliminating redundancy. Maybe this explanation will shed some light on how I view things, and hence why I don't see them as particularly complex or cumber...
by 15202guy
Wed Jan 09, 2013 1:18 am
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

pingo, thank you so much for your detailed and comments, thoughts, and advice. I want to carefully consider all of your suggestions before making any decisions, but in the interim, I wanted to reply with some comments and my current thoughts. It is funny that you mention the Fidelity Total US Stock ...
by 15202guy
Sun Jan 06, 2013 7:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: difference in performance between VXUS and VTSAX

Looks to me as though the entire difference occurred in the first day or two of the funds' existence (select a date a couple of days after then as your starting point, such as 1/28/2011). May be simply due to a difference in what is reported as the starting price or some other vagary of ETFs I don'...
by 15202guy
Thu Jan 03, 2013 2:17 am
 
Forum: Investing - Theory, News & General
Topic: difference in performance between VXUS and VTIAX
Replies: 12
Views: 1149

Re: difference in performance between VXUS and VTSAX

The VTSAX is the actual value of the stocks making up the index. The VXUS is an exchange traded fund and while it is made up of the same holdings as the VTSAX it is traded on the open market and can trade at a premium or a discount - to me it is very similar to a closed end fund. If you are looking...
by 15202guy
Thu Jan 03, 2013 12:26 am
 
Forum: Investing - Theory, News & General
Topic: difference in performance between VXUS and VTIAX
Replies: 12
Views: 1149

difference in performance between VXUS and VTIAX

Important note: I originally posted using the wrong ticker symbol for Vang Total Intl Admiral...it is corrected here, sorry Can anyone explain the difference in performance between VXUS (Vang Total Intl ETF) and VTIAX (Vang Total Intl Admiral) over say the last 3 years? I am looking at a "growt...
by 15202guy
Wed Jan 02, 2013 10:01 pm
 
Forum: Investing - Theory, News & General
Topic: difference in performance between VXUS and VTIAX
Replies: 12
Views: 1149

Re: first-time portfolio review for a long-time lurker

Yes, I've been thinking about the two ways to approach risk a lot lately. Both arguments have significant merit. I'll definitely be adjusting to 15-20% bonds very shortly, and perhaps even higher than that...I will see how my thinking on this issue evolves. Okay. In that case I'll look at your situ...
by 15202guy
Wed Jan 02, 2013 9:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

Pingo, thanks for your comments and questions. Some of your questions forced me to revisit my portfolio strategy, which is exactly the point of threads like this. We've discussed this to some extent. I'll just comment that Morningstar.com shows the same ER (0.18%) for FSGDX and VXUS. At first glance...
by 15202guy
Wed Jan 02, 2013 1:22 am
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

Nathan Drake wrote:Did you work with a consulting firm before breaking out on your own? What kind of consulting?


I did not. But I will PM you a little bit of info...
by 15202guy
Sun Dec 30, 2012 10:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

EACH YEAR? Congratulations! :shock: All I can say, is you probably do not need advice from the likes of me, but I'm likely to offer it anyway so take it with a grain of salt! :D That's my hope...we'll see if it materializes! And I very much appreciate all comments! The variation and size of future ...
by 15202guy
Sun Dec 30, 2012 10:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: IWN vs VBR for SCV tilt

Cuzz35 wrote:Keep in mind this fund is changing it's benchmark or is set to change it. If I remember correctly from an earlier thread,this change removed REITs from the fund.


By "this fund" do you mean VBR?
by 15202guy
Sun Dec 30, 2012 1:41 pm
 
Forum: Investing - Theory, News & General
Topic: IWN vs VBR for SCV tilt
Replies: 19
Views: 1264

Re: IWN vs VBR for SCV tilt

Here you go: http://www.google.com/search?rls=en&q=ijs+site:bogleheads.org livesoft, with all due respect, I've done the search and read the threads. But I guess I came to a different conclusion than you did. If you would like to highlight some specific threads or posts, that would be helpful a...
by 15202guy
Sun Dec 30, 2012 1:41 pm
 
Forum: Investing - Theory, News & General
Topic: IWN vs VBR for SCV tilt
Replies: 19
Views: 1264

Re: first-time portfolio review for a long-time lurker

Hi Pingo, thanks for your comments. I have some comments/questions about your comments below. Also, you don't say how much you're saving each year in the taxable account(s), if anything. This is VERY variable, based on significant income fluctuations. But I am hoping low six figures on average. Just...
by 15202guy
Sun Dec 30, 2012 1:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

Nathan Drake wrote:How in the world did you manage to make so much money by 35? Get lucky with a start up?


Not to sound cliched, but lots of hard work and a little luck... (e.g., landing a few key consulting clients). No startup involved :)
by 15202guy
Sun Dec 30, 2012 1:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: IWN vs VBR for SCV tilt

What happened to IJS? I used to use IJS/VBR as a tax-loss harveting pair, but since VBR now has a huge unrealized gain I don't look at this stuff anymore. Actually, I am worried about the research tools at Fidelity now if you came across IWN and not IJS. What's up with Fidelity? Are they broken? I ...
by 15202guy
Sun Dec 30, 2012 1:00 pm
 
Forum: Investing - Theory, News & General
Topic: IWN vs VBR for SCV tilt
Replies: 19
Views: 1264

IWN vs VBR for SCV tilt

In my portfolio review thread, I indicated that I was considering using IWN (iShares Russell 2000 Value Index ETF) to add an SCV tilt to my portfolio. One poster suggested looking instead at VBR (Vanguard Small-Cap Value ETF) because of its lower expense ratio (.37% for IWN vs .21% for VBR). However...
by 15202guy
Sun Dec 30, 2012 12:24 pm
 
Forum: Investing - Theory, News & General
Topic: IWN vs VBR for SCV tilt
Replies: 19
Views: 1264

Re: first-time portfolio review for a long-time lurker

I'm not sure where the official line is but at 35 you are getting near to being middle age :shock: so it would be hard to suggest any less than 20% in bonds. (Disclaimer: I don't really like bonds right now so I am mostly avoiding longer term bonds.) Gee, thanks for pointing that out ;) But you are...
by 15202guy
Sat Dec 29, 2012 12:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

Hi Watty, thanks for your comments! To keep my transaction costs low, I bought one large lot of VXUS in my current 401k, then when I need to add more international, I do so in my old 401k (and sell domestic) since there are no fees. Even at $25 a trade, making a dozen trades a year only add somethin...
by 15202guy
Sat Dec 29, 2012 1:12 am
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

Dave, thanks for taking the time to read and comment. A few brief notes in response. Lucky you. You have one heck of a lot more money than I had at your age. If you ever get married, I don't care how good the relationship seems, get a lawyer to do a pre-nup. I am very blessed to have been successful...
by 15202guy
Sat Dec 29, 2012 1:02 am
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: first-time portfolio review for a long-time lurker

Stan, thanks so much for your comments! 1) One thing I'm working towards myself is a little more account diversity (e.g. some I-Bonds and munis in taxable, some equities in tax deferred). Seems to me like the prudent thing to do given tax rate uncertainty. Yes, the tax diversity is exactly my logic....
by 15202guy
Sat Dec 29, 2012 12:56 am
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

first-time portfolio review for a long-time lurker

Hi everyone, I am looking for any advice or opinions about optimizing my portfolio and/or tweaking my AA. I am reasonably happy with my current situation but I am always looking to improve :) Emergency funds: I usually hold an excessive amount of cash (1+ yrs living expenses) because of year-to-year...
by 15202guy
Fri Dec 28, 2012 4:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: first-time portfolio review for a long-time lurker
Replies: 31
Views: 3294

Re: allocating bonds across 401k & Roth IRA to max Roth bala

Thanks for all of the additional discussion. As noted in my OP, I know that the ending balance will be the same no matter how I divide the assets, but I am still trying to maximize the Roth balance because of the RMD issue (which, as noted, could change). The discussion did force me to consider tax ...
by 15202guy
Fri Dec 28, 2012 3:05 pm
 
Forum: Investing - Theory, News & General
Topic: allocating bonds across 401k & Roth IRA to max Roth balance
Replies: 14
Views: 2098

Re: allocating bonds across 401k & Roth IRA to max Roth bala

Thank you for the replies. Leaving the Roth as all stock is what I expected the answer would be, but I wanted to seek confirmation. Since my time horizon is 20+ years and I am willing to take considerable risk in this portion, I will proceed with that plan for the current time...I will likely gradua...
by 15202guy
Thu Dec 27, 2012 6:26 pm
 
Forum: Investing - Theory, News & General
Topic: allocating bonds across 401k & Roth IRA to max Roth balance
Replies: 14
Views: 2098

allocating bonds across 401k & Roth IRA to max Roth balance

I am seeking opinions/advice as to whether I would be more likely to maximize the return *in my Roth IRA* if I put my AA-dictated allocation of bonds in both my 401k and my Roth IRA, or if I should put the entire bond position in the 401k. I guess the argument for splitting the position across the t...
by 15202guy
Thu Dec 27, 2012 2:52 pm
 
Forum: Investing - Theory, News & General
Topic: allocating bonds across 401k & Roth IRA to max Roth balance
Replies: 14
Views: 2098

Re: where to invest a lump sum to be used for periodic payme

My thought as well, so let me take a traditional Forum route and not answer your question but ask why it is that the money needs to be set aside. Would it be severely difficult to fund this payment from income and the bulk of existing investments without segregating a special fund? My income is SO ...
by 15202guy
Sat Feb 11, 2012 8:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: where to invest a lump sum to be used for periodic payments
Replies: 9
Views: 653

Re: where to invest a lump sum to be used for periodic payme

How about this? Ask what you could get the principal reduced to if you pay it all off now. Yeah, I wish that was an option, but it isn't :( I'd be interested in hearing the arguments for and against this course of action [using VFSTX] vs. the GNMA fund. Me too! I'd also be interested to hear though...
by 15202guy
Sat Feb 11, 2012 7:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: where to invest a lump sum to be used for periodic payments
Replies: 9
Views: 653

where to invest a lump sum to be used for periodic payments

I have an obligation of $44K which is to be paid at a rate of $2K monthly. I would like to set aside the entire amount and have it liquidated at the appropriate rate over time. Obviously, this money is needed in the near-term so I can't be too aggressive. However, I would like to take a little risk ...
by 15202guy
Sat Feb 11, 2012 3:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: where to invest a lump sum to be used for periodic payments
Replies: 9
Views: 653

Re: Solo 401k - employer or employee contributions?

One of the benefits of incorporating is that the employer contributions DO escape employment taxes. This is especially nice for high wager earners, where you could put in the entire $49K (or whatever the max is) totally tax free.
by 15202guy
Sat Feb 04, 2012 6:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401k - employer or employee contributions?
Replies: 3
Views: 338
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