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Re: Alzheimer's and Prenup

Daisy, You might want to edit the above info so that it is NOT so personally identifiable, just to be cautious. Change the locations, the exact amounts of loans, etc. Don't give exact ages of anyone in the future, etc. There was another thread where there has been considerable speculation about whe...
by Fallible
Tue Sep 02, 2014 10:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's and Prenup
Replies: 14
Views: 1549

Re: Alzheimer's and Prenup

Just some general comments based on having had two relatives with Alzheimer's and having done volunteer work for the Alzheimer's Association. From the posts here I think you can see the strong need to have an attorney to deal with the many legal complexities. And you will need to talk with the daugh...
by Fallible
Mon Sep 01, 2014 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's and Prenup
Replies: 14
Views: 1549

Re: WSJ: Firing One's Advisor

@Fallible, thanks for that response. Yes, it would have been better for Noblet to describe how he got into that mess and how he could have prevented it in the first place. I guess his article doesn't really help people avoid his mistake, does it? Well, as long as he doesn’t appear to understand why...
by Fallible
Sat Aug 30, 2014 8:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: WSJ: Firing One's Advisor
Replies: 18
Views: 2006

Re: WSJ: Firing One's Advisor

Noblet's article reminds me of similar mea culpas from financial pros, such as Cass Sunstein, co-author of Nudge , which was a forum topic: http://www.bogleheads.org/forum/viewtopic.php?f=10&t=136956&p=2024375 It's nice that they reveal their mistakes, but I’m often left with the feeling tha...
by Fallible
Sat Aug 30, 2014 12:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: WSJ: Firing One's Advisor
Replies: 18
Views: 2006

Re: If you had an extra $100,000

Came across this article I thought fellow Bogleheads may appreciate. I think we could all get behind #13. As for #1-12, what are your thoughts? #13 cites Allan Roth, a Boglehead author and a panelist at Bogleheads annual conferences. I would not be surprised if Allan intentionally chose to be the l...
by Fallible
Thu Aug 28, 2014 11:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you had an extra $100,000
Replies: 58
Views: 5210

Re: Gas station etiquette

Thought 2: If I read you right, you were driving toward the empty spot ahead of A as A is getting into his car. Does that mean you could've stopped to let A pull out and away before you moved into the spot ahead of him? If so, that seems the most logical and polite thing to do, both for A and for B...
by Fallible
Thu Aug 28, 2014 8:39 pm
 
Forum: Personal Consumer Issues
Topic: Gas station etiquette
Replies: 46
Views: 2838

Re: Gas station etiquette

Someone give me a hard time at the local Costco gas station today. I thought my actions were completely appropriate, but wonder if perhaps I violated some unwritten rule of gas station etiquette. The Costco gas pumps are set up like they are everywhere, with multiple aisles of pumps, a wide center ...
by Fallible
Thu Aug 28, 2014 6:53 pm
 
Forum: Personal Consumer Issues
Topic: Gas station etiquette
Replies: 46
Views: 2838

Re: Burton Malkiel Opinion in WSJ -- "Are Stock Prices ..."

Thanks for posting another good Malkiel piece. IMO, it seemed less prediction than just an excellent explanation of the arguments by the two camps and the carefully qualified question, "So who is correct? The answer is that both may be." He lists three things an investor can do (I boldface...
by Fallible
Thu Aug 28, 2014 8:48 am
 
Forum: Investing - Theory, News & General
Topic: Burton Malkiel Opinion in WSJ -- "Are Stock Prices ..."
Replies: 26
Views: 2948

Re: Where to invest $100,000 this week

Invest according to your asset allocation specified in your Investing Policy Statement. Don't have an IPS? Get one. +1. And why would "this week" be different from last week or next month? That's why youneed the IPS. Agree with both. OP, I also hope you'll explain what you mean by being &...
by Fallible
Thu Aug 28, 2014 8:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to invest $100,000 this week
Replies: 14
Views: 1858

Re: What's "The Herd" doing today?

... That proportion of "the herd" that isn't truly on board with the rationale behind index investing could just as easily decide that index investing isn't "hot" any more - either because the exploiters of greed get out enough successful messages about beating the indexes, or b...
by Fallible
Wed Aug 27, 2014 8:48 pm
 
Forum: Investing - Theory, News & General
Topic: What's "The Herd" doing today?
Replies: 52
Views: 3423

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

Ouch. Wow, so because I'm currently financially inept, I don't measure up? I guess I know you would be giving out any advice to my questions Wowza I didn't write the thing that you're responding to, but I'm having a hard time figuring out why you and others seem so surprised by it. It really should...
by Fallible
Wed Aug 27, 2014 4:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10163

Re: What's "The Herd" doing today?

I have read that index investing in general, and investing with Vanguard in particular, are becoming more and more popular. http://online.wsj.com/articles/investors-pour-into-vanguard-eschewing-stock-pickers-1408579101 From this, I conclude the herd is moving from actively managed to index fund inv...
by Fallible
Wed Aug 27, 2014 3:48 pm
 
Forum: Investing - Theory, News & General
Topic: What's "The Herd" doing today?
Replies: 52
Views: 3423

Re: What's "The Herd" doing today?

I have read that index investing in general, and investing with Vanguard in particular, are becoming more and more popular. http://online.wsj.com/articles/investors-pour-into-vanguard-eschewing-stock-pickers-1408579101 From this, I conclude the herd is moving from actively managed to index fund inv...
by Fallible
Wed Aug 27, 2014 12:19 pm
 
Forum: Investing - Theory, News & General
Topic: What's "The Herd" doing today?
Replies: 52
Views: 3423

Re: Savers vs. Spenders: Default Mode

I was thinking about this today and thought it would be a good subject to develop here. For "savers" (a minority), the default mode is that income should be saved, and it's somewhat painful to spend part of it. But for spenders, the mindset is that all income should default to spending, a...
by Fallible
Tue Aug 26, 2014 10:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savers vs. Spenders: Default Mode
Replies: 34
Views: 2190

Re: SP500 and recency bias

My standard advice on adjusting asset allocation is to wait a few months before acting and, if you're changing to favor something that has gone up recently (or to cut back on something that has gone down recently), wait at least twice as long. The exception is if you're changing due to personal cir...
by Fallible
Tue Aug 26, 2014 9:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: SP500 and recency bias
Replies: 23
Views: 2128

Re: SP500 and recency bias

I for one have the opposite problem. The higher the S&P goes, the more I want to sell some things and/or shift my AA to favor bonds. But then it ticks up even higher...I have to remind myself you can't time the market, but it sure is tempting to take some gains off the table and wait for an ine...
by Fallible
Tue Aug 26, 2014 2:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: SP500 and recency bias
Replies: 23
Views: 2128

Re: SP500 and recency bias

My standard advice on adjusting asset allocation is to wait a few months before acting and, if you're changing to favor something that has gone up recently (or to cut back on something that has gone down recently), wait at least twice as long. The exception is if you're changing due to personal cir...
by Fallible
Tue Aug 26, 2014 12:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: SP500 and recency bias
Replies: 23
Views: 2128

Re: SP500 and recency bias

Is this change of heart typical? Does it say something about my ability to stay the course? Yes it's very typical. Lots of reading material out there that reinforces that human brains are wired to find patterns. We do this so well we find them even when they do not exist. In investing this manifest...
by Fallible
Tue Aug 26, 2014 11:14 am
 
Forum: Personal Finance (Not Investing)
Topic: SP500 and recency bias
Replies: 23
Views: 2128

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

My biggest mistake came when a small group of us were talking about a friend's bonus. They asked me what should they do. I told them they could invest it or pay down their mortgage. I mentioned to them that I paid off my property. Why shouldn't they be at least a little "upset"? You reall...
by Fallible
Tue Aug 26, 2014 12:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10163

Re: Death of family member - what to do financially

Because of the distance and the fact that you probably will eventually need an elder law attorney, I would suggest beginning to find prospective attorneys there to interview. My condolences to the family. He needs a trust and estates lawyer, not an elder law attorney. Gill Yes, you are right. OP, I...
by Fallible
Mon Aug 25, 2014 9:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Death of family member - what to do financially
Replies: 26
Views: 3202

Re: Death of family member - what to do financially

Because of the distance and the fact that you probably will eventually need a trust/estates attorney, I would suggest beginning to find prospective attorneys there to interview. My condolences to the family.
Edit: corrects to type of attorney.
by Fallible
Mon Aug 25, 2014 8:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Death of family member - what to do financially
Replies: 26
Views: 3202

Re: Help Collecting Useful Threads for A New Boglehead

Hi Falliable! Good question to ask. He was definately appreciative for the gesture but there are a lot of new factors in his life right now so he is still getting acclimated. (ie Moved 300 miles from home for 1st job as an engineer at an S&P500 company, Finding a place to live, Learning the are...
by Fallible
Mon Aug 25, 2014 8:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help Collecting Useful Threads for A New Boglehead
Replies: 13
Views: 668

Re: SP500 and recency bias

Is it just me, or does the SP500 hitting 2000 change your feelings about investing? We hope to close on the sale of our rental property soon, and up to about 2 weeks ago I was certain of my plan to use the proceeds to pay down our home mortgage. But now I feel I should just invest it according to m...
by Fallible
Mon Aug 25, 2014 7:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: SP500 and recency bias
Replies: 23
Views: 2128

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

I'm of the opinion that it's better to generally operate under a policy of "Mum's the word" when the discussion of finance ever comes up with friends, co-workers, or relatives. When they complain about their financial situations I usually just give a sympathetic nod. When someone directly...
by Fallible
Mon Aug 25, 2014 7:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10163

Re: Help Collecting Useful Threads for A New Boglehead

Did your nephew say why your help wasn't helpful the first time? Does he show any interest at all in his finances?
by Fallible
Mon Aug 25, 2014 7:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help Collecting Useful Threads for A New Boglehead
Replies: 13
Views: 668

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

"Show me your friends and I'll show you your future." My two closest friends are very good with finances. One is from High School the other College. I didn't keep in touch with friends the failed to mature. I also do not make friends with those that don't share similar values (financially...
by Fallible
Mon Aug 25, 2014 6:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10163

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

Some of my friends are spenders. They love to go places, eat out all of the time, lease cars, redecorate their houses all of the time, etc. My biggest mistake came when a small group of us were talking about a friend's bonus. They asked me what should they do. I told them they could invest it or pa...
by Fallible
Mon Aug 25, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10163

Re: How Many Finance Gurus Does It Take To Change A Lightbu

A fun read and thanks for posting. I especially liked the analogies to happiness, greed, and finally the common sense of DIY (italics mine): "...you don’t need a new light bulb to be happy. You just need to learn to live with the light bulb you currently have and feel in control of it. This mea...
by Fallible
Sun Aug 24, 2014 5:26 pm
 
Forum: Investing - Theory, News & General
Topic: How Many Finance Gurus Does It Take To Change A Lightbulb?
Replies: 2
Views: 736

Re: WSJ/Zweig- The Decline and Fall of Fund Managers

"...owning index funds is neither easy nor quick: You must give up all hope of ever beating the market, resign yourself to a stupefyingly boring portfolio and wait years for the advantages of the cost savings to pile up." Beautiful line! --Peter Agree, but it's not exactly news to indexer...
by Fallible
Sun Aug 24, 2014 2:33 pm
 
Forum: Investing - Theory, News & General
Topic: WSJ/Zweig- The Decline and Fall of Fund Managers
Replies: 21
Views: 2350

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

harmony wrote:...If the fiance's grandmother lives with dementia for a long time, and it could happen, I think it makes sense to plan well for her.


Agree and the OP's mention that the grandmother is in good physical health also could further indicate a longer life.
by Fallible
Sun Aug 24, 2014 2:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: 87 Year Old Grandmother Has $600,000 In the Bank
Replies: 42
Views: 5480

Re: Best nose hair trimmer (is this okay to ask?)

It's definitely okay to ask this. It reminds me of the children's book by Roald Dahl, "The Twits," and Mr. Twit who was covered in facial hair, even the nose, and never, ever trimmed, let alone plucked. Yuck. And because of that, I never finished reading it. So, OP, I hope you find the bes...
by Fallible
Sat Aug 23, 2014 9:52 pm
 
Forum: Personal Consumer Issues
Topic: Best nose hair trimmer (is this okay to ask?)
Replies: 36
Views: 2673

Re: Quote from a mover: Please comment

Hi Victoria, You're smart to check out Consumer Checkbook and I'd also look over "Consumer Reports" mag on movers as it often has even more good tips. Here's a link to one of their overall articles on moves, including lowballing: http://www.consumerreports.org/cro/2013/05/protect-yourself-...
by Fallible
Fri Aug 22, 2014 11:37 am
 
Forum: Personal Consumer Issues
Topic: Quote from a mover: Please comment
Replies: 46
Views: 3771

Re: Great MarketWatch Article - 13 financial tips to live by

I love that lead graph: "I’m in a crabby mood. Why not spread the joy around? Welcome to today’s deliberately inflammatory column." Livesoft, you are right that Clements does reply to reader e-mails, at least to some or perhaps as many as he can get to. He did this during his first WSJ sti...
by Fallible
Thu Aug 21, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Great MarketWatch Article - 13 financial tips to live by
Replies: 13
Views: 1923

Re: To be truly rich, take stock of your life before investi

The phrase " take stock of your life" instantly recalled to mind: https://www.youtube.com/watch?v=HW5ykXDYcLk Taking stock of what I have and what I haven't What do I find? The things I got will keep me satisfied Checking up on what I have and what I haven't What do I find? A healthy bala...
by Fallible
Wed Aug 20, 2014 6:49 pm
 
Forum: Investing - Theory, News & General
Topic: To be truly rich, take stock of your life before investing
Replies: 30
Views: 4502

Re: Repeat: PBS Frontline The Retirement Gamble

Here's the forum thread on the program from last year:

viewtopic.php?f=10&t=115019
by Fallible
Tue Aug 19, 2014 9:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Repeat: PBS Frontline The Retirement Gamble
Replies: 5
Views: 2003

Re: Bogleheads Featured in Money Article

I know this is totally beside the point, but that author (Penny) needs to learn how to proofread. A number of grammatical errors in a short article - sloppy! A bit sloppy, I agree in part. Based on personal experience, I would venture that these blogs are given a quick "second pair of eyes&quo...
by Fallible
Tue Aug 19, 2014 6:48 pm
 
Forum: Investing - Theory, News & General
Topic: Bogleheads Featured in Money Article
Replies: 21
Views: 3036

Re: Retirement Party [Investment] Discussions

The dipping into principal topic is almost deserving of a separate thread. ... The discussion here on principal has been good, but I agree it could stand a separate thread. One reason is the issue gets into many areas and goes deep, such as the cognitive biases VictoriaF has written about here and ...
by Fallible
Tue Aug 19, 2014 4:22 pm
 
Forum: Investing - Theory, News & General
Topic: Retirement Party [Investment] Discussions
Replies: 50
Views: 4158

Re: Explaining irrelevant "investing news" articles to relat

Maybe the more important question is whether she is taking your advice and not acting on the "noise" - is she? I can't be certain because I don't have any means of checking on her investments other than just asking her. I try to respect her independence by only offering my opinion when sh...
by Fallible
Tue Aug 19, 2014 3:25 pm
 
Forum: Investing - Theory, News & General
Topic: Explaining irrelevant "investing news" articles to relatives
Replies: 6
Views: 578

Re: Explaining irrelevant "investing news" articles to relat

I could have titled this thread "How my mother tells me she is worried about her retirement." My mother periodically will send me links to various news articles that often highlight trading or investing topics. These articles frequently do not provide context to help the reader identify w...
by Fallible
Tue Aug 19, 2014 2:36 pm
 
Forum: Investing - Theory, News & General
Topic: Explaining irrelevant "investing news" articles to relatives
Replies: 6
Views: 578

Re: Defining "Stay the Course"

I think you stayed the course in the sense of investing based on your risk tolerance. It has changed and you've responded to it. Whether it was the correct response I don't know, but it appears there you also have stayed a course you felt was right for you and your goals. Possibly more important to ...
by Fallible
Tue Aug 19, 2014 1:58 pm
 
Forum: Investing - Theory, News & General
Topic: Defining "Stay the Course"
Replies: 41
Views: 3651

Re: HUFF POST: How Financially Literate Is the Investing Pub

It's hard to say what should be first and what should follow . If both illiteracy and innumeracy are equally damaging, flipping a coin is better than being paralyzed by indecision. ... Agree they are equally damaging. But if they can't read the instructions in the first place...? Illiteracy and inn...
by Fallible
Tue Aug 19, 2014 1:05 pm
 
Forum: Investing - Theory, News & General
Topic: Huff Post: How Financially Literate Is the Investing Public?
Replies: 52
Views: 4625

Re: HUFF POST: How Financially Literate Is the Investing Pub



Illiteracy is the first problem to tackle. If one doesn’t know what “fees” mean, let alone “compounding,” or if one doesn’t know what “math” means, let alone “reading,” if one can’t read math instructions...and on and on. ... It's hard to say what should be first and what should follow . If both ...
by Fallible
Mon Aug 18, 2014 5:05 pm
 
Forum: Investing - Theory, News & General
Topic: Huff Post: How Financially Literate Is the Investing Public?
Replies: 52
Views: 4625

Re: Spouse not ready to cut ties with financial advisers

Could you get your husband to read one of the recommended books on the wiki? The basics of investing are not difficult. Learning about and managing your own assets, even a large amount, is much easier than starting up, running, and selling a business. He also could start by reading this thread to s...
by Fallible
Mon Aug 18, 2014 3:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 8742

Re: HUFF POST: How Financially Literate Is the Investing Pub

Thanks for the article. Financial literacy also was taken up in a WSJ column last year by Jason Zweig and most surprising to me, though it probably should not have been, was this: "Before we invest in the luxury of making people financially literate, shouldn’t we first take care of the vastly ...
by Fallible
Mon Aug 18, 2014 3:22 pm
 
Forum: Investing - Theory, News & General
Topic: Huff Post: How Financially Literate Is the Investing Public?
Replies: 52
Views: 4625

Re: Retirement Party Discussions

I generally don't discuss my finances outside my family and this Forum, but recently I had a conversation with a woman who has retired from a New York City job. She was surprised by the following aspects of my plan: 1. Wait to collect the Social Security at the age of 70. 2. Make Roth conversions d...
by Fallible
Mon Aug 18, 2014 2:14 pm
 
Forum: Investing - Theory, News & General
Topic: Retirement Party [Investment] Discussions
Replies: 50
Views: 4158

Re: Is buying two SUVs a sane/good financial move?

SoCalGal: ... The Mini is a very safe car and it's stable and maneuverable which could help you avoid an accident entirely. ... I don't know much about the Mini, but I've driven mostly small cars all my life and think your comment on maneuverability is an important one. Many times I've been able to...
by Fallible
Mon Aug 18, 2014 12:20 am
 
Forum: Personal Consumer Issues
Topic: Is buying two SUVs a sane/good financial move?
Replies: 63
Views: 3723

Re: The Funniest Movie Ever

I just saw “City Lights” (1931) written, directed, and staring Sir Charles Spencer “Charlie” Chaplin, KBE. I highly recommend it. Words truly are inadequate … Agree. A favorite scene of mine is when he begins to realize she is blind and she throws the water in his face. The comedy evolves perfectly...
by Fallible
Sun Aug 17, 2014 10:04 pm
 
Forum: Personal Consumer Issues
Topic: The Funniest Movie Ever
Replies: 227
Views: 14861

Re: Retirement Party Discussions

I generally don't discuss my finances outside my family and this Forum, but recently I had a conversation with a woman who has retired from a New York City job. She was surprised by the following aspects of my plan: 1. Wait to collect the Social Security at the age of 70. 2. Make Roth conversions d...
by Fallible
Sun Aug 17, 2014 9:32 pm
 
Forum: Investing - Theory, News & General
Topic: Retirement Party [Investment] Discussions
Replies: 50
Views: 4158

Re: Convincing fears on investing for now?

Does anyone think this market is too frothy? I'm looking at charts of various mutual funds and the inflated net asset value price (just on a 5-10 year outlook) makes me very nervous and uncomfortable. I'm a Boglehead, you can even call me a "Boglehead purist" and I could care less on list...
by Fallible
Sun Aug 17, 2014 9:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convincing fears on investing for now?
Replies: 33
Views: 3326
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