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Just how stringent is the fiduciary standard?

I was talking to a friend who uses a Registered Investment Advisor that has a fiduciary responsibility to act in my friend's best interest. This advisor also has an insurance license, and sold my friend and her husband a permanent life insurance policy despite the fact that they are both working pro...
by Bfwolf
Thu Oct 30, 2014 11:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just how stringent is the fiduciary standard?
Replies: 3
Views: 400

Re: Yet Another Post About Health Insurance

I think you've got the general gist right. Your tax bracket would impact things somewhat: the premiums are tax deductible (in favor of the HDHP plus). And then there's the opportunity cost of how much you can invest in the HSA on top of your company contribution (in favor of the HDHP). But overall, ...
by Bfwolf
Wed Oct 29, 2014 12:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Yet Another Post About Health Insurance
Replies: 3
Views: 379

Re: Men's Personal Hygiene Products

I am very susceptible to razor burn, and Nivea For Men's sensitive post-shave balm has been the most effective product I've found for limiting that. A sharp blade and prepping your beard by washing it in warm/hot water will soften the hairs and using a sensitive skin shaving gel (I use Gillette ser...
by Bfwolf
Wed Oct 29, 2014 11:46 am
 
Forum: Personal Consumer Issues
Topic: Men's Personal Hygiene Products
Replies: 37
Views: 2930

Re: Arkansas Resident: Arkansas vs Utah 529

Fair point. I also suspect that the fact that a tax break exists keeps money pouring into Arkansas' 529 and is a hindrance to moving to lower fees. i.e. there's no burning platform
by Bfwolf
Wed Oct 29, 2014 11:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Arkansas Resident: Arkansas vs Utah 529
Replies: 3
Views: 338

Arkansas Resident: Arkansas vs Utah 529

I have friends that are moving to Arkansas with their 1 year old who has an existing 529 plan with Utah. They are deciding whether to continue to contribute to the Utah 529 or switch their contributions over to the Arkansas 529 plan. There's a good chance that Arkansas is a temporary destination for...
by Bfwolf
Wed Oct 29, 2014 2:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Arkansas Resident: Arkansas vs Utah 529
Replies: 3
Views: 338

Re: Another PPO vs HDHP thread - enrollment closing...

I'm sorry that you had to agonize over this decision and come to a conclusion in a very short time frame. For what it's worth, I think your thought process was exactly right and you made the correct decision. It's POSSIBLE the PPO will end up the better choice, but it's probably not likely. And as m...
by Bfwolf
Wed Oct 29, 2014 1:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Another PPO vs HDHP thread - enrollment closing...
Replies: 13
Views: 1279

Re: Men's Personal Hygiene Products

I am very susceptible to razor burn, and Nivea For Men's sensitive post-shave balm has been the most effective product I've found for limiting that.
by Bfwolf
Tue Oct 28, 2014 10:28 pm
 
Forum: Personal Consumer Issues
Topic: Men's Personal Hygiene Products
Replies: 37
Views: 2930

Re: Buying Salmon Online

Do you have a Costco membership? They sell bags of individually wrapped frozen salmon filets that are very tasty.
by Bfwolf
Tue Oct 28, 2014 10:26 pm
 
Forum: Personal Consumer Issues
Topic: Buying Salmon Online
Replies: 20
Views: 1665

Re: PPO vs HSA (hsa seems too good to be true)

Your high deductible plan with the HSA is clearly better. As far as I can see, there are literally no scenarios where you'd come out ahead with the PPO. In my experience, most high deductible plans with HSAs are better than their PPO alternatives for the majority of situations, though they usually a...
by Bfwolf
Tue Oct 28, 2014 10:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: PPO vs HSA (hsa seems too good to be true)
Replies: 23
Views: 2082

Re: COBRA and plan changes...

I don't know the answer to your question, but my spidey sense tells me that once the PPO is gone, you've got to switch to the high deductible plan.

I don't suppose getting induced on 12/31 is a possiblity huh?
by Bfwolf
Fri Oct 24, 2014 12:08 am
 
Forum: Personal Finance (Not Investing)
Topic: COBRA and plan changes...
Replies: 11
Views: 967

Re: [Best Option for Early Termination] of Apartment Lease

I'm surprised how risk averse everybody is here. Between those two choices, I would absolutely try to get another tenant in there to complete your lease. Yes, something could go wrong, but it is unlikely, and the risk of it costing you a LOT of money is very unlikely. But I actually think your best ...
by Bfwolf
Thu Oct 23, 2014 12:50 am
 
Forum: Personal Finance (Not Investing)
Topic: [Best Option for Early Termination] of Apartment Lease
Replies: 21
Views: 1345

Re: The SWR on Real Estate Investments

It's unclear to me why one would expect better returns than REITs, once you subtract out the value of your time that you have to put in (and would be an expense a REIT would have to take on in exchange for not taking up any of your time).
by Bfwolf
Thu Oct 16, 2014 1:58 am
 
Forum: Investing - Theory, News & General
Topic: The SWR on Real Estate Investments
Replies: 61
Views: 2472

Re: Company stock match, good deal?

Please let us know what you learn about how quickly she could sell the company stock in the 401k and the ESPP. I don't think ANY holding period would dissuade me from using the 401k unless the investment options are just horrid. However, any required holding period might be a deal breaker for the ES...
by Bfwolf
Tue Oct 07, 2014 10:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company stock match, good deal?
Replies: 18
Views: 1140

Re: Critically Acclaimed Movies you did not like

I hated Groundhog's Day. Apparently it's considered an existential classic. Going down the list of the AFI Top 100 movies: Citizen Kane Raging Bull Lawrence of Arabia 2001: A Space Odyssey Chinatown (can't say I honestly saw the whole thing, I was so bored after 10 minutes I turned it off) The Malte...
by Bfwolf
Sun Oct 05, 2014 7:07 pm
 
Forum: Personal Consumer Issues
Topic: Critically Acclaimed Movies you did not like
Replies: 150
Views: 8273

Re: Chase Ultimate Rewards Program

You could also just cancel the annual fee card right before the year-mark where it gets assessed and apply for one of the other annual fee cards which still provides you with the ability to transfer points to airline/hotel programs. This way you can also continue to accumulate the introductory point...
by Bfwolf
Sun Sep 28, 2014 5:58 pm
 
Forum: Personal Consumer Issues
Topic: Chase Ultimate Rewards Program
Replies: 27
Views: 8564

Re: Are you using a Martingale strategy and don't know it?

Elbowman, that's where I thought the original post was going to go. I agree completely.
by Bfwolf
Tue Sep 23, 2014 1:36 am
 
Forum: Investing - Theory, News & General
Topic: Are you using a Martingale strategy and don't know it?
Replies: 28
Views: 2197

Re: We have a grocery problem... [Household budget]

I think that where you can shop can make a significant difference. You already know that Jewel, where you do most of your shopping it sounds like, has high prices. So finding an alternative may be job one. Mariano's has better prices than Jewel so that would be a step in the right direction, althoug...
by Bfwolf
Sat Sep 20, 2014 12:55 am
 
Forum: Personal Consumer Issues
Topic: We have a grocery problem... [Household budget]
Replies: 158
Views: 10924

Re: Why is there no mutual fund that truly behaves like rent

How is what you're asking for different from REITs? If REITs aren't leveraged enough for your liking, buy the REITs on margin.
by Bfwolf
Sat Sep 20, 2014 12:32 am
 
Forum: Investing - Theory, News & General
Topic: Why is there no mutual fund that truly behaves like rental?
Replies: 36
Views: 2901

Re: Alibaba is NOT coming to an index near you

I tend to agree with Chan_va. While this stock seems highly suspicious, that is public information, and this risk will get priced in. If you are an investor in emerging markets, wanting Alibaba excluded from your holdings is stock picking.
by Bfwolf
Sat Sep 20, 2014 12:27 am
 
Forum: Investing - Theory, News & General
Topic: Alibaba is NOT coming to an index near you
Replies: 33
Views: 3700

Re: A 'really good book' you did NOT enjoy

Definitely add me to the Moby Dick camp. If I wanted a history lesson on whaling, I would've.....well, I can't imagine anybody wanting such a lesson so I have no idea what I'd do.

In terms of modern books, Shantaram has 4.5 stars on Amazon on 1,469 reviews. I could not get past 100 pages or so.
by Bfwolf
Sun Sep 07, 2014 12:10 am
 
Forum: Personal Consumer Issues
Topic: A 'really good book' you did NOT enjoy
Replies: 226
Views: 11148

Re: Where to invest after 401k & IRA are Maxed

Is the mega back door Roth an option for you or your husband's 401k?
by Bfwolf
Sat Sep 06, 2014 11:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to invest after 401k & IRA are Maxed
Replies: 8
Views: 756

Re: Questions about rebalancing portfolio--retirement in 6 y

Thanks for clarifying that for me. I would agree that converting the non deductible IRAs to a Roth lacks urgency given that new information, and in fact is likely to be better done after she retires as she'll probably be in a lower bracket. It would also probably be easier after she retires to estab...
by Bfwolf
Fri Sep 05, 2014 10:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

I was re-reading TFB's back-door-Roth how to, and it seems to me he is saying that you can even move the earnings from your non-deductible IRA to a 401k, and thus eliminate your potential tax bill altogether. In other words, if you have $520K in money in pre-tax IRAs, $50K in non-deductible IRA cont...
by Bfwolf
Thu Sep 04, 2014 8:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: This Forum is Amazing! Newbie ready to jump in the deep

I won't be able to do the Roth IRA's this year. But any year in which I am eligible I will be sure to do so for the wife and myself. I did not realize contributions were eligible for withdrawal penalty free. Makes sense being after tax investments in the Roth. Are you familiar with a back door Roth...
by Bfwolf
Thu Sep 04, 2014 7:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: This Forum is Amazing! Newbie ready to jump in the deep end!
Replies: 17
Views: 1899

Re: Questions about rebalancing portfolio--retirement in 6 y

Yes, I think that's right, assuming you can get the answers to the questions relatively quickly. You've been lucky so far with a 78% stock portfolio. Don't push your luck with another 6 months of that allocation--you never know when the next 50% stock market drop is going to hit.
by Bfwolf
Thu Sep 04, 2014 5:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

To make sure I am understanding your IRA questions/suggestions: I have a high 5 figure amount in IRAs that represent after tax (non-deductible) contributions. The bulk of the money in the IRAs represents 401k rollovers, and some deductible IRAs I was able to create before working at companies that ...
by Bfwolf
Thu Sep 04, 2014 4:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

Another option would be to wait until you're about to retire and then roll the pre-tax IRAs into your 401k. Execute the Roth conversion on the after-tax IRAs. Then roll the 401k into a pre-tax IRA. This assumes that your employer's 401k allows incoming IRA rollovers (not all do). You'd give up seve...
by Bfwolf
Thu Sep 04, 2014 4:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

As far as I know, there is no self employment income minimum for establishing a Solo 401k. Even with your money in bonds, high 5 figures is going to churn out significant earnings every year. Those earnings are all going to be taxable if you keep them in a traditional IRA. It's probably going to cos...
by Bfwolf
Thu Sep 04, 2014 3:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

If your after-tax contributions are only 12% of your total IRA, then you're right, it probably won't make sense. Smaller conversions won't help you--each conversion has to be pro rata. A solution would be to roll your pre-tax IRA $s into a 401k. Then you could convert the after-tax IRAs to Roth IRAs...
by Bfwolf
Thu Sep 04, 2014 2:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

Thanks for correcting. Recalculating the asset allocation I provided would result in this split: IRA Vanguard Total Bond Market Index Fund 50% Vanguard Total Stock Market Index Fund 10% 401k John Hancock 500 Index Fund 14% John Hancock Mid-Cap Index Fund 2% John Hancock Small-Cap Index Fund 1% Taxab...
by Bfwolf
Thu Sep 04, 2014 2:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Questions about rebalancing portfolio--retirement in 6 y

Welcome to the forum! You've come to the right place for advice. It's great that you recognize your portfolio is too risky. You've also been very fortunate to have enjoyed a fantastic return on your stock investments while you maintained this risky portfolio. Congratulations! If you want to consolid...
by Bfwolf
Thu Sep 04, 2014 1:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 34
Views: 1718

Re: Hi! And Thanks!

Great to see posts like this. I'm sure there are many others like you who have not posted but have gotten valuable advice from this forum.
by Bfwolf
Tue Aug 26, 2014 1:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Hi! And Thanks!
Replies: 3
Views: 734

Re: 87 Year Old Grandmother Has $600,000 In the Bank

I agree with the general advice that meddling may not be seen advantageously and that keeping the money liquid (which it is) makes sense anyway. I do like the suggestion of at least moving a big chunk (say $500K) to a couple of savings accounts where she can earn higher interest. I hardly think that...
by Bfwolf
Sun Aug 24, 2014 11:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: 87 Year Old Grandmother Has $600,000 In the Bank
Replies: 42
Views: 5673

Re: Contribute to 457?

Going back to your first message, I am seeing you that you provided a marginal tax rate of 33% and you have an implied company match of 6.9% ($15.5K divided by $225K). I also see that you're 48 so 30 years is probably not appropriate, so I changed to 20 years. If I put those #s in (keeping the retir...
by Bfwolf
Tue Aug 05, 2014 12:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Contribute to 457?
Replies: 41
Views: 3840

Re: Contribute to 457?

Bubba, That's interesting. I created an Excel spreadsheet to model this impact. These are the inputs I used: Proposed 457 contribution: $17,500 Marginal income tax rate today: 30% Marginal income tax rate in retirement: 30% 403b match rate as a % of salary: 3% Dividend yield: 2% Dividend tax rate: 1...
by Bfwolf
Tue Aug 05, 2014 12:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Contribute to 457?
Replies: 41
Views: 3840

Re: Too many goals - where do I start?

I love the idea of thinking about adding 50% to the cost of things you're buying if you don't take full advantage of the company match. i.e. date night isn't really $120, it's $180. If your husband is making $53K/year (just a guess at half your gross income), then his company match is worth around $...
by Bfwolf
Mon Aug 04, 2014 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Too many goals - where do I start?
Replies: 53
Views: 4106

Re: Barclay Arrival credit card

I know that Barclays Arrival and Fidelity Amex is all the rage around here (and may be, Chase Sapphire too), but one card that gets no respect is Bank of America Travel Rewards (Visa Signature). Ok. It has only 1.5 points on all purchases (no limits), but wait till you hear the whole story. It has ...
by Bfwolf
Mon Aug 04, 2014 1:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Barclay Arrival credit card
Replies: 19
Views: 1437

Re: Business School Loans

I went to get my MBA when I was 24, with less than 3 years of work experience. I was the 2nd youngest person in my class. It was the best decision I ever made. I was making $32K/year with little opportunity for advancement before business school, and $78K/year with lots of opportunity for advancemen...
by Bfwolf
Sun Aug 03, 2014 7:02 pm
 
Forum: Personal Consumer Issues
Topic: Business School Loans
Replies: 8
Views: 1340

Re: International investing. A good call by our mentor.

One of the key Boglehead mantras is diversification. Taylor, you are a very wise man, so why you thought posting Mr. Bogle's message to limit diversification in terms of world stock ownership would be received positively by your fellow Bogleheads escapes me. The fact that Mr. Bogle was correct for t...
by Bfwolf
Sun Aug 03, 2014 6:42 pm
 
Forum: Investing - Theory, News & General
Topic: International investing. A good call by our mentor.
Replies: 145
Views: 12840

Re: Too many goals - where do I start?

Let me come at this from an alternative approach. The first steps is you've got to build up a 6 month emergency fund. That's non-negotiable. Beyond that though, I think some outside the box thinking may help. Your employer match is virtually unheard of. You really need to take advantage of that. Eve...
by Bfwolf
Sun Aug 03, 2014 1:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Too many goals - where do I start?
Replies: 53
Views: 4106

Re: MOM faltering? [Momentum]

I don't know if any of these factors are real or not, but I can at least get my head around the size and growth/value factors. Small companies are risky. Companies that are doing crummy (value companies) are risky. There's no free lunch there--if you invest in those types of companies you are taking...
by Bfwolf
Fri Aug 01, 2014 12:51 am
 
Forum: Investing - Theory, News & General
Topic: MOM faltering? [Momentum]
Replies: 94
Views: 6491

Re: Contribute to 457?

Correct.
by Bfwolf
Thu Jul 31, 2014 11:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Contribute to 457?
Replies: 41
Views: 3840

Re: Contribute to 457?

Big companies can and do go bankrupt. Healthcare may be riskier than most industries due to the evolving landscape. But I agree with your assessment that bankruptcy is unlikely. If it were me, and the investment choices were decent and rules surround the 457 in the Summary Plan Description didn't ra...
by Bfwolf
Wed Jul 30, 2014 1:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Contribute to 457?
Replies: 41
Views: 3840

Re: Please help me fight for index funds!

Delayed Gratification, We hear on this forum all the time about 401k plans that are offered "free" to the company. The reason they are offered free is that the fund choices have high expense-ratios/loads/12B-1 fees, and are thus highly profitable for the offerer. You can bet the investment...
by Bfwolf
Wed Jul 30, 2014 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Please help me fight for index funds!
Replies: 37
Views: 2601

Re: Was ready to pull plug on Janus..until

Of all the decisions you will make today, whether you use Vanguard Admiral funds or their equivalent ETFs will probably be the least important. You should spend more time thinking about what you're going to have for dinner tonight.
by Bfwolf
Wed Jul 30, 2014 1:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Was ready to pull plug on Janus..until
Replies: 66
Views: 4236

Re: Contribute to 457?

I certainly understand the concern with a non-governmental 457 being a general obligation of the company and thus subject to forfeiture if the company goes bankrupt. However, unless the company goes bankrupt suddenly and without warning, aren't there ripcord opportunities to prevent the loss of asse...
by Bfwolf
Wed Jul 30, 2014 12:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Contribute to 457?
Replies: 41
Views: 3840

Re: Please help me fight for index funds!

I agree. However, the company does have an investment committee. Those are the people I'm talking to. No guarantee I can win, but if I don't try everyone loses (except, of course, the management company). Perhaps a purchase of a slim Boglehead philosophy book for each member of the investment commi...
by Bfwolf
Tue Jul 29, 2014 3:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Please help me fight for index funds!
Replies: 37
Views: 2601

Re: Please help me fight for index funds!

I don't think talking to the Prudential salesman is going to get you anywhere. You're certainly not going to convince him that offering the Vanguard fund is better for him because it's not! Whether it's better for your wife doesn't matter to him. Who are the decision makers with your wife's company?...
by Bfwolf
Tue Jul 29, 2014 2:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Please help me fight for index funds!
Replies: 37
Views: 2601

Re: Was ready to pull plug on Janus..until

Your first fund listed, JANEX, is described as a mid-cap fund. You are comparing it to VTI which is a large cap ETF. Vanguard has a mid cap index fund with the ticker VIMSX. Since its founding in 1998, VIMSX is up well over 200%. JANEX, over the same time frame, is up less than 150%. VTSMX, the mutu...
by Bfwolf
Tue Jul 29, 2014 2:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Was ready to pull plug on Janus..until
Replies: 66
Views: 4236

Re: Here's another "where should I retire" thread

A couple of years ago, I spent a week at a friend's parents' lakehouse in Willsboro, NY, and it was delightful. I think it would meet many of your criteria, and you can take your car on the ferry across Lake Champlain to the Vermont side and drive up to Burlington in about an hour. Burlington is a c...
by Bfwolf
Sat Jul 26, 2014 2:04 am
 
Forum: Personal Consumer Issues
Topic: Here's another "where should I retire" thread
Replies: 104
Views: 6620
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