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Re: The Annuity Puzzlement

AIG's insurance subsidiaries, which were responsible for paying out on the annuities and life insurance policies, were not endangered. Only the parent company needed to be bailed out. AIG's insurance subsidiaries most certainly would have been in danger had AIG gone under. During the AIG bailout he...
by Austintatious
Thu Sep 18, 2014 9:06 am
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 68
Views: 4227

Re: Roth help

twees52, the importance of minimizing the costs of investing simply cannot be emphasized enough. One way a mutual fund investor pays costs is a fund's expense ratio, and paying inordinately high expense ratios is something to avoid if practical. Another way investors can get tagged with unnecessary ...
by Austintatious
Wed Sep 17, 2014 3:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roth help
Replies: 14
Views: 534

Re: How to best adjust asset allocation as years pass

I don't think asset allocation has to do with age. It has more to do with the stage of life you are in. Some people retire at 40 while others keep working well past 70. Personally I think, at retirement, a person should be between 20-40% equities and gradually increase as time passes. You avoid the...
by Austintatious
Wed Sep 17, 2014 11:08 am
 
Forum: Investing - Help with Personal Investments
Topic: How to best adjust asset allocation as years pass
Replies: 12
Views: 939

Re: wine recommendations for this meal?

Hayden wrote:A meal like that deserves a different wine with each course!


truly
by Austintatious
Tue Sep 16, 2014 10:29 pm
 
Forum: Personal Consumer Issues
Topic: wine recommendations for this meal?
Replies: 5
Views: 466

Re: Should I step in to help my in law pay off credit card d

Pay it and move on, assuming that it's economically feasible for you. A discussion with the vet, explaining that you're considering paying the bill might result in a discounted balance due, or at least a schedule of periodic payments if that would be more convenient for you. But just knowing that yo...
by Austintatious
Tue Sep 16, 2014 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I step in to help my in law pay off credit card debt
Replies: 31
Views: 2514

Re: How to best adjust asset allocation as years pass

Here's a current thread discussing Boglehead rebalancing practices that may help.

viewtopic.php?f=1&t=147033&newpost=2193675
by Austintatious
Tue Sep 16, 2014 3:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to best adjust asset allocation as years pass
Replies: 12
Views: 939

Re: How much you need to save as multiple of salary

TIME article quotes a Fidelity study which says: Here are the guideposts: At age 35, you should have saved an amount equal to your annual salary. At age 45, you should have saved three times your annual salary. At 55, you should have five times your salary. I see a problem right here. The recommend...
by Austintatious
Tue Sep 16, 2014 12:48 pm
 
Forum: Investing - Theory, News & General
Topic: How much you need to save as multiple of salary
Replies: 51
Views: 6013

Re: The Annuity Puzzlement

Most of the studies that claim an SPIA increases portfolio survival and income have the non SPIA portion of the portfolio in 100% stocks, which can be a behavioral challenge for many even with the regular income from the SPIA. Still, if one can get by that challenge, SPIAs at a relatively young age...
by Austintatious
Tue Sep 16, 2014 12:21 pm
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 68
Views: 4227

Re: The Annuity Puzzlement

I came across this MarketWatch article this morning and thought it would worth a read to those following this thread. Annuity specialist (their description of the author) Stan Haithcock advises us regarding the coming annuity renaissance that's just around the corner. I'd like to think he has it rig...
by Austintatious
Tue Sep 16, 2014 9:41 am
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 68
Views: 4227

Re: The dangerous practice of rebalancing...

There are risks in either rebalancing or not rebalancing. If we believe a bear market will recover and a bull market will crash eventually, then blind rebalancing does not matter. Only we know when the market is at bottom (or close to bottom) or at top (or close to top), does rebalancing bring the ...
by Austintatious
Sun Sep 14, 2014 4:01 pm
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

Re: Nedsaid's sound advice.

This is why we all need to put on our philosopher's hat and put down on paper our beliefs about markets and investments. Create a model by which we can understand how markets work. Have core beliefs that we hold strongly. Otherwise you run into the problem of thinking you have a good plan until you...
by Austintatious
Sat Sep 13, 2014 11:45 am
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

Re: The dangerous practice of rebalancing...

a snipped quote: I'd like to present a different perspective to you. 1. What does "once core retirement needs are provided for" mean to you? 2. To me, it means that [say] a typical retired investo, may have perhaps 50%, 60% (??%) in safe(r) investments to provide for core retirement needs...
by Austintatious
Sat Sep 13, 2014 11:29 am
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

Re: The dangerous practice of rebalancing...

Wow! Sure glad I read this before it was too late. http://www.marketwatch.com/story/why-strategic-investors-dont-rebalance-their-portfolios-2014-09-12?dist=countdown Thanks for sharing, I know that you are being sarcastic to a large extent. I largely agree with Lew Mandell. In terms of strategic po...
by Austintatious
Sat Sep 13, 2014 9:24 am
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

Re: The dangerous practice of rebalancing...

...for the record, I'm not necessarily saying I think rebalancing and maintaining a constant-mix portfolio isn't a viable option. Just that it's not a "perfect plan", it has it's own unique risk/reward characteristics, and it may not suit everyone's risk preferences. I agree with you, JoM...
by Austintatious
Fri Sep 12, 2014 10:07 pm
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

Re: The dangerous practice of rebalancing...

austin I would not change anything you were doing, if it included rebalancing Larry Larry, our practice is to rebalance whenever we get about 5% out of whack and we're not likely to change, despite having learned how terribly dangerous the practice. And your thoughtful advice is much appreciated, a...
by Austintatious
Fri Sep 12, 2014 5:18 pm
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

The dangerous practice of rebalancing...

Wow! Sure glad I read this before it was too late. Just when I thought I'd arrived at an asset allocation I was relatively comfortable with, along comes Mr. Mandel and throws a huge monkey wrench smack dab into the middle of my plan. Cover your basic retirement needs with safe assets like Social Sec...
by Austintatious
Fri Sep 12, 2014 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 180
Views: 10924

Re: New 2% cash back Mastercard from Citi

I received an application from Citi for what I think is this card in the mail today. They're saying it pays 1% at purchase plus 1% at payment. Doesn't say if MC or Visa. The application says they'll also tack on an extra $100 if one charges at least $500 in the first 3 months. Anyone using this card...
by Austintatious
Thu Sep 11, 2014 9:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 195
Views: 19690

Re: Should anyone invest in short-term bonds at this point?

BigJohn, for the short-term binds are you getting more than you'd get with a CD? I'm just curious why you're choosing the short term over ibonds or CDs. abyan, I bonds are an excellent alternative but, with the $10K limitation on one's annual purchase, they only go so far in resolving the problem. ...
by Austintatious
Wed Sep 10, 2014 1:19 pm
 
Forum: Investing - Theory, News & General
Topic: Should anyone invest in short-term bonds at this point?
Replies: 46
Views: 3739

Re: Needing help with a Vanguard 401k

Thanks, I found out through her plan administrator she is only able to move the portion of the 401k that she has contributed...none of the employer matching money or profit sharing in the account to an IRA at VG. Guess I'll have to check out Fido since they can do a complete change over of an activ...
by Austintatious
Wed Sep 10, 2014 12:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Needing help with a Vanguard 401k
Replies: 23
Views: 1359

Re: Best article on Vanguard's philosophy and history?

I recently read what might be the perfect article for you. Sadly, I've not been able to retrieve it and still looking, but here's a Marketwatch article, Why Vanguard is a role model for the fund industry , that might suffice. http://www.marketwatch.com/story/why-vanguard-is-a-role-model-for-the-fund...
by Austintatious
Wed Sep 10, 2014 11:18 am
 
Forum: Investing - Theory, News & General
Topic: Best article on Vanguard's philosophy and history?
Replies: 10
Views: 722

Re: So far, so good? Vanguard Total International Bond

Thanks for the commentary, PJW - I've been on Wall Street for 30 years and have dealt with Moody's, S&P and Fitch dozens of times - know their strengths and weaknesses well, and certainly understand the difference between corporates, sovereigns, etc. My basic points here are (a) I was curious w...
by Austintatious
Tue Sep 09, 2014 8:01 pm
 
Forum: Investing - Theory, News & General
Topic: So far, so good? Vanguard Total International Bond
Replies: 44
Views: 3842

Re: Texas - Recommendation Where To Live

Fort Worth is the sleeper, here. It meets all of OP's criteria with the possible exception of "relatively new with a growing population" - not sure what that means. It has all the big city amenities but retains something of a "small town flair". Local politics are conservative an...
by Austintatious
Sun Sep 07, 2014 1:56 pm
 
Forum: Personal Consumer Issues
Topic: Texas - Recommendation Where To Live
Replies: 56
Views: 2816

Re: Longevity Annuities?

Austinatious (sorry for the spelling) My thought process was the following. The QLAC essentially takes money out of your retirement account, puts it out years into the future, and then pays it back to you. So if you are In need of immediate income you wouldn't buy one and will either pursue an RMD ...
by Austintatious
Fri Sep 05, 2014 8:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Longevity Annuities?
Replies: 54
Views: 2303

Re: Longevity Annuities?

RBS, whether folks reading the forum agree with their conclusions or not, thank you for the links to the papers you reference. They are instructive reading. You don't have to agree to learn something. I am in the minority who think that SPIA annunities are appropriate in an retired investor's overa...
by Austintatious
Thu Sep 04, 2014 9:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Longevity Annuities?
Replies: 54
Views: 2303

Re: Rewards credit card advice

capital one quicksilver card gives 1.5% back on everything, no limits. we're switching to this since the rotating categories cards don't typically hit our spending habits. we use the costco amex for gas to get 3% back. We've used this card (and its predecessor) for a couple of years, now, and we've...
by Austintatious
Thu Sep 04, 2014 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rewards credit card advice
Replies: 33
Views: 5791

Re: Malpractice lawsuit from residency?

It's a mistake to assume that there was no "tail coverage". I'd be very surprised if it was not provided to him/her as part of the program benefits, or at least made available to him before leaving the program. If the residency was covered by the hospital under a self-insurance program as ...
by Austintatious
Wed Sep 03, 2014 1:39 pm
 
Forum: Personal Consumer Issues
Topic: Malpractice lawsuit from residency?
Replies: 16
Views: 2570

Re: NFCU 1 year certificate (CD) 5% APY $5k max balance

Sad that even as a federal employee, I am not eligible to join :( would love to use this offer. My grandfather was in the army and my uncle is retired navy, but I think this May be too far removed for qualifying. Grandfather would count if he was retired Army and not just a plain vanilla vet stepch...
by Austintatious
Tue Sep 02, 2014 9:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: NFCU 1 year certificate (CD) 5% APY $5k max balance
Replies: 28
Views: 3282

Re: Costco:is it worth it for just two people?

I just do not understand why people like Costco so much (feel better than at Walmart???). Similar products can be bought at Kroger and Walmart. When the first Costco opened in our city early this year, my wife got a discounted membership. The bargain she likes most is the bottled water. Since the C...
by Austintatious
Sun Aug 31, 2014 9:47 am
 
Forum: Personal Consumer Issues
Topic: Costco:is it worth it for just two people?
Replies: 135
Views: 10098

Re: Costco:is it worth it for just two people?

You simply won't find a better canned tuna product around, unless there's some erotic foreign brand that I've not stumbled across. If you find erotic foreign tuna please let us know. Victoria Not to worry, Victoria. I always share the special finds with my friends, those hot stock tips, for example.
by Austintatious
Sat Aug 30, 2014 10:17 pm
 
Forum: Personal Consumer Issues
Topic: Costco:is it worth it for just two people?
Replies: 135
Views: 10098

Re: Costco:is it worth it for just two people?

Wow, I would not eat that much tuna. The FDA suggests only 16.4 oz of LIGHT tuna per week, and only 5.6 oz per week of albacore tuna. Only one data point but it is first hand. A college friend - a very bright guy - ate only tuna for lunch and dinner (if he was eating at home) for three years. He de...
by Austintatious
Sat Aug 30, 2014 10:12 pm
 
Forum: Personal Consumer Issues
Topic: Costco:is it worth it for just two people?
Replies: 135
Views: 10098

Re: Costco:is it worth it for just two people?

DW and I have shopped at Costco for a couple of years, now, following several years of shopping at Sam's. We are convinced that shopping at either place would allow a couple to save money, as long as one plans ahead, and exercises budgetary discipline. For a number of reasons, I prefer Costco, by fa...
by Austintatious
Sat Aug 30, 2014 9:20 pm
 
Forum: Personal Consumer Issues
Topic: Costco:is it worth it for just two people?
Replies: 135
Views: 10098

Re: What Movie Have You Currently Watched?

Last film I saw was The Grand Budapest Hotel. I thought it was lot's of fun and I'd recommend it. Be aware that profanity is taken to the professional blasphemer's level. Used RedBox and cost $1.50
by Austintatious
Sat Aug 30, 2014 4:42 pm
 
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 85
Views: 3664

Re: is a target date fund considered indexed

Depends on what you mean by "indexed". The target date funds I know of are merely collections of separate funds and would not themselves be reflective of a particular index. But the funds they're comprised of may or may not be "index funds". The Vanguard target date funds, for ex...
by Austintatious
Fri Aug 29, 2014 1:41 pm
 
Forum: Investing - Theory, News & General
Topic: is a target date fund considered indexed
Replies: 11
Views: 641

Re: Help with son-in-law's new 401k

Here's what I'd do, offered with the disclaimer that I'm neither expert nor nearly as knowledgeable as are others posting here: If or when I had sufficient funds for the three fund portfolio in my Roth, I'd go with it over the Target Date funds, although I think the latter are very good choices for ...
by Austintatious
Fri Aug 29, 2014 11:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with son-in-law's new 401k
Replies: 13
Views: 1418

Re: No car for 10 years - should I scratch the itch?

When I was a kid, I couldn't wait to drive. I now live in a downtown area with 93/100 walkability rating, and I avoid driving as much as possible. I'd get rid of my car in a heartbeat, but I'm still playing gigs and need to haul my gear around every week, so the Camry sits in the garage until I nee...
by Austintatious
Thu Aug 28, 2014 3:49 pm
 
Forum: Personal Consumer Issues
Topic: No car for 10 years - should I scratch the itch?
Replies: 28
Views: 2117

Re: International allocation

Where am I wrong, here? Not wrong, just some folks don't like adding that much risk for the diversification Int. stocks allow. I really don't think there is a right answer here. You have that completely backwards. You can't possibly have LESS risk by heavily tilting towards a single country. Unless...
by Austintatious
Thu Aug 28, 2014 1:38 pm
 
Forum: Investing - Theory, News & General
Topic: International allocation
Replies: 73
Views: 4244

Re: No car for 10 years - should I scratch the itch?

Sharke, I'm in the opposite position. I live in a rural setting and have zero access to public transportation. I live with the constant headaches and drain on finances that owning a motor vehicle bring to my life. I'm genuinely sick of it all. I suggest that you forget the very idea and embrace the ...
by Austintatious
Thu Aug 28, 2014 9:46 am
 
Forum: Personal Consumer Issues
Topic: No car for 10 years - should I scratch the itch?
Replies: 28
Views: 2117

Re: Need help with 401k Strategy

A few thoughts: 1) the target fund is a great and simple idea. 2) What's the purpose of the betterment account? If it's just for retirement, then consider moving to Vanguard and doing the rebalancing yourself. 3) If you want something other than the target fund, I'd look at using the SSgA funds as ...
by Austintatious
Wed Aug 27, 2014 6:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help with 401k Strategy
Replies: 21
Views: 1385

Re: Bad(?) advice given about Target Date Retirement funds

But don't the Life Strategy funds come with the same basic problem, by a different mechanism? With the TR funds, the allocation is changing over time, becoming more conservative as time passes. With the Life Strategy funds, the allocation is static and is either too conservative for most investors u...
by Austintatious
Wed Aug 27, 2014 12:46 pm
 
Forum: Investing - Theory, News & General
Topic: Bad(?) advice given about Target Date Retirement funds
Replies: 103
Views: 6467

Re: International allocation

In ten of the last twenty years the EAFE has outperformed the SP500 (source Callan Tables). In total performance for that period the SP500 is way ahead despite the split. I have no clue what that means going forward. Personally I'm about 29% domestic and 16% international. Using my preferred vehicl...
by Austintatious
Mon Aug 25, 2014 6:27 pm
 
Forum: Investing - Theory, News & General
Topic: International allocation
Replies: 73
Views: 4244

Re: Telling my friends I paid off my houses was a mistake.

Each time they suggest that you fritter away your money, ask if they've ever heard of Jack Bogle, and insist on enlightening them about Mr. Bogle, Vanguard and the many benefits of investing in low costs, broadly diversified index funds. Should be fun.
by Austintatious
Mon Aug 25, 2014 2:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10312

Re: Help with son-in-law's new 401k

Does son-in-law get a match by the employer? What are the other funds in the plan, and the expense ratios? Is there an additional management fee (or other fees) under the plan I'm assuming that daughter does NOT get a match with the 403(b). Is that true? How do the expense ratios with the 403(b) com...
by Austintatious
Mon Aug 25, 2014 12:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with son-in-law's new 401k
Replies: 13
Views: 1418

Re: International allocation

Thanks, gvsucavie03, jaab, JoMoney and others. This question of international investing and whether the broader diversification it brings is worth the potential for increased risk still interests me very much. It's been a good discussion.
by Austintatious
Sun Aug 24, 2014 9:57 pm
 
Forum: Investing - Theory, News & General
Topic: International allocation
Replies: 73
Views: 4244

Re: International allocation

We're at 30%, although I'm steadily becoming convinced, largely by all the discussions about international on this forum, that it should be higher, reflecting true market share. World market share and personal risk tolerance are two different issues. Some folks may not like the greater volatility o...
by Austintatious
Sun Aug 24, 2014 11:59 am
 
Forum: Investing - Theory, News & General
Topic: International allocation
Replies: 73
Views: 4244

Re: International allocation

We're at 30%, although I'm steadily becoming convinced, largely by all the discussions about international on this forum, that it should be higher, reflecting true market share.
by Austintatious
Sun Aug 24, 2014 10:25 am
 
Forum: Investing - Theory, News & General
Topic: International allocation
Replies: 73
Views: 4244

Re: Why do we tip restaurant servers?

I used to hate tipping. Not because I hated parting with the money, just because it felt awkward, and even somehow a little demeaning to throw a few dollars (figuratively) at someone. Then I dated a waitress, and my perspective changed completely. They work their butts off, they depend on the incom...
by Austintatious
Fri Aug 22, 2014 8:44 pm
 
Forum: Personal Consumer Issues
Topic: Why do we tip restaurant servers?
Replies: 44
Views: 2235

Re: Why do we tip restaurant servers?

I work as a server in fine dining for a living. 95% of my income comes from tips. In fact, some weeks I get a paycheck of $0.00 as the taxes on my tips are taken out of my wages reducing them to zero. In short, you tip your server because the system (for good or bad) is set up in such a manner that...
by Austintatious
Fri Aug 22, 2014 5:11 pm
 
Forum: Personal Consumer Issues
Topic: Why do we tip restaurant servers?
Replies: 44
Views: 2235

Re: Using Credit Card to Pay Off Student Loans

Good plan- unless something happens and you can't pay off the 8K before your intro APR expires. Not worth the gamble to me. If your loan interest is deductible there's even less incentive. You'd be gaining < $100 This is the correct answer. Just pay the loan off, directly and stay away from the pot...
by Austintatious
Thu Aug 21, 2014 2:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Using Credit Card to Pay Off Student Loans
Replies: 24
Views: 1147

Re: Good interview with John Bogle

What a great find. Thank you, stemikger. 14 excellent minutes enabling us to know Jack Bogle just a little bit better. It makes one all the more envious of those able to attend the annual Boglehead conventions and spend such valuable time with the man.
by Austintatious
Thu Aug 21, 2014 1:58 pm
 
Forum: Investing - Theory, News & General
Topic: Good interview with John Bogle
Replies: 34
Views: 3751
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