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Re: New Investor!! Did I make a mistake?

Yes. First, thank your father who steadily contributed to that fund for your benefit. Second, ask your father if he ever filed tax returns on your behalf duly noting and reporting the reinvestment of dividend and capital gain distributions -... The cost basis does not depend on whether the parent f...
by Grt2bOutdoors
Tue Aug 19, 2014 10:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Investor!! Did I make a mistake?
Replies: 39
Views: 1368

Re: Do the mega wealthy need life insurance?

The use of life insurance is a relatively cheap form of financing to be used to pay estate taxes. Assume someone worth $50MM has most of their net worth tied up in a business which they want to pass on to their heirs, estate tax would be due, payment could come from life insurance allowing the full ...
by Grt2bOutdoors
Tue Aug 19, 2014 10:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 5
Views: 410

Re: How the rich stay/get richer??

ClevrChico wrote:An accurate illustration of "it takes money to make money".


One of my relatives came to this country with $10 in his pocket. A prime example of the power of compounding and time.
by Grt2bOutdoors
Tue Aug 19, 2014 9:56 pm
 
Forum: Investing - Theory, News & General
Topic: [live off dividends?] How the rich stay/get richer??
Replies: 29
Views: 2006

Re: How the rich stay/get richer??

bogleblitz wrote:Yes this is true.

Then by the 3rd and 4th generation, the grandchildren and great grandchildren will tap the principal and spend it all.


Not if it's in a trust....they can only spend according to the terms of the trust.
by Grt2bOutdoors
Tue Aug 19, 2014 9:53 pm
 
Forum: Investing - Theory, News & General
Topic: [live off dividends?] How the rich stay/get richer??
Replies: 29
Views: 2006

Re: How the rich stay/get richer??

Yes, that's one way of looking at it. I have several relatives who started investing in the equities markets back in the 1950's, they reinvested their dividends back into buying more stock which were all dividend-paying. I could say they have a closet S&P 500 index fund, they own that many if no...
by Grt2bOutdoors
Tue Aug 19, 2014 9:52 pm
 
Forum: Investing - Theory, News & General
Topic: [live off dividends?] How the rich stay/get richer??
Replies: 29
Views: 2006

Re: New Investor!! Did I make a mistake?

Yes. First, thank your father who steadily contributed to that fund for your benefit. Second, ask your father if he ever filed tax returns on your behalf duly noting and reporting the reinvestment of dividend and capital gain distributions - if yes, then your cost basis in the fund may be higher tha...
by Grt2bOutdoors
Tue Aug 19, 2014 9:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Investor!! Did I make a mistake?
Replies: 39
Views: 1368

Re: Need spa / yoga destination suggestion

Rhinebeck is out of the way, but if you are so inclined to go there and want to eat well make sure you stop by the Culinary Institute of America in Pougkeepsie, the sandwiches at the Apple Pie Bakery are great as is the apple pie! If you're a history buff, stop by the FDR home just up the road on Rt...
by Grt2bOutdoors
Tue Aug 19, 2014 5:11 pm
 
Forum: Personal Consumer Issues
Topic: Need spa / yoga destination suggestion
Replies: 2
Views: 233

Re: Simplisafe Home Security Systems

I use Frontpoint, it is a one year contract - $43 per month, web-accessible, mobile accessible, smash protection - if the burglar finds the base station and tries to tamper with it - unplug, smash, damage - it will send out the signal immediately, otherwise you have 30 seconds to disarm it before it...
by Grt2bOutdoors
Tue Aug 19, 2014 1:46 pm
 
Forum: Personal Consumer Issues
Topic: Simplisafe Home Security Systems
Replies: 19
Views: 1083

Re: New Job/New Location - Next Steps

I feel I have a good handle on my investments, contributions, and my budget. The advice I am looking for is how to position myself from a saving standpoint or if I should be concerned about my debt levels. I would focus on paying down the highest rate student loans first, not necessarily concerned ...
by Grt2bOutdoors
Tue Aug 19, 2014 12:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Job/New Location - Next Steps
Replies: 7
Views: 444

Re: When to put money into bond fund rather than home princi

You should search recent posts from Grabiner on this subject. If you can find a bond fund with a duration of 5-6 that offers a 2.67% yield, investing in the bond fund may be a better option. The Vanguard Long Term Tax Exempt fund has a 2.50% yield,a duration of 6.3 and liquidity, close but not equal...
by Grt2bOutdoors
Tue Aug 19, 2014 11:58 am
 
Forum: Investing - Help with Personal Investments
Topic: When to put money into bond fund rather than home principal
Replies: 8
Views: 703

Re: Portfolio Review - Recent Grad and BogleHead

If I were you, I'd stop paying down the student loans and invest all that extra cash instead. Contribute to your 401 up to the employer match (probably traditional and not Roth), max out a Roth IRA, and then pump more into the 401k. Your student loan rates are pretty low, so I wouldn't bother payin...
by Grt2bOutdoors
Tue Aug 19, 2014 9:03 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Recent Grad and BogleHead
Replies: 26
Views: 2541

Re: [helping a family member to start investing]

Not everyone can afford to invest extra dollars in their child's 529, savings account or Roth IRA. We all know certain things in life are beneficial to undertake to enjoy a higher quality of life in the present and future, not everyone is willing or able to make those sacrifices for a multitude of r...
by Grt2bOutdoors
Tue Aug 19, 2014 8:55 am
 
Forum: Investing - Help with Personal Investments
Topic: [helping a family member to start investing]
Replies: 10
Views: 780

Re: (New)Need Financial Jedi Master Assistance

So the fees in the 401k are of no concern? Not to me. Once your 401(k) balance is high enough, simply borrow the max allowed from your 401(k) in order to save on those fees and invest the borrowed money in something similar but with low fees. You forgot to add: "if you lose your job through vo...
by Grt2bOutdoors
Mon Aug 18, 2014 10:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Boglehead - Looking for some advice
Replies: 12
Views: 693

Re: 20 Year Old With 70k to Invest

Hi everyone, i'm a 20 year old college student who has his own "business". I make around 80k a year? My college costs 65k a year. I have enough money to pay for my next year of college with about 70k left in the bank. I'm looking for stocks or funds to invest in with relatively low risk a...
by Grt2bOutdoors
Mon Aug 18, 2014 10:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: 20 Year Old With 70k to Invest
Replies: 48
Views: 2013

Re: (New)Need Financial Jedi Master Assistance

Welcome to the forum! Can you please edit your post to include the names and er's by fund for "his 401k")? Can you please add the er's by fund for "her 401k"? Since I know we don't have a 52nd state with the name "Anon" - perhaps you can provide us with the states tax r...
by Grt2bOutdoors
Mon Aug 18, 2014 8:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Boglehead - Looking for some advice
Replies: 12
Views: 693

Re: Is a 16% expense ratio technically possible?

Google the Steadman (later Ameritor) funds. Performance was so poor, they were nicknamed the Deadman funds because no conscious person would invest with them. As AUM fell, the ER kept going up, eventually hitting something like 22% per year. The SEC shut them down in 2007 because they had managed t...
by Grt2bOutdoors
Mon Aug 18, 2014 7:52 pm
 
Forum: Investing - Theory, News & General
Topic: Is a 16% expense ratio technically possible?
Replies: 10
Views: 1048

Re: Would you buy these funds that were recommended?

No! If the adviser/fund salesman offers to put you in any class of shares involving the alphabet - say "no, thank you" as many times as you have to before hanging up the phone. Do not go into the office to meet with the fellow as they will do their best to "close the sale" on you...
by Grt2bOutdoors
Mon Aug 18, 2014 7:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Would you buy these funds that were recommended?
Replies: 21
Views: 934

Re: Vanguard Index vs American Funds?

The smart money invests in index funds. Warren Buffett is instructing his estate to invest in the S&P 500 - an index fund. Public and private sector pension funds utilize indexed investments in obtaining the returns necessary to meet their payment obligations. In all of the above instances, I've...
by Grt2bOutdoors
Mon Aug 18, 2014 1:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Index vs American Funds?
Replies: 33
Views: 3020

Re: Defined Benefit Plan Costs?

You have two choices, each will carry it's own set of reactions - make the pitch for the "car allowance" (personally, I don't think that will get you any positive traction and may create ill will with your employer putting you high on the list for the first to go in a layoff) or start loo...
by Grt2bOutdoors
Mon Aug 18, 2014 1:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 29
Views: 1441

Re: Shiller: "U.S. stocks are very expensive"

They could become even more expensive yet! Or...one can be brave and explore investing in international which is trading at a lower p/e, however that could be justified given the dismal state of the economies in Europe vs. US. They say the same about bond valuations - it's too expensive, how about h...
by Grt2bOutdoors
Mon Aug 18, 2014 1:02 pm
 
Forum: Investing - Theory, News & General
Topic: Shiller: "U.S. stocks are very expensive"
Replies: 4
Views: 914

Re: How much do you plan to save in your 529 plan?

I personally don't think it's worthwhile paying for a "2nd tier' expensive private college if a flagship public college is available. Agreed. Eldest felt differently after the athletic official visit to our best in state. So we could have forced the issue with the very real possibility of a fl...
by Grt2bOutdoors
Mon Aug 18, 2014 12:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much do you plan to save in your 529 plan?
Replies: 32
Views: 2903

Re: Your biggest "Missed Money" event that still kills you?

The Williams Companies traded at 88 cents a share in 2004 after having been accused of rigging the California power markets (electricity) - the company had then and still has one of the largest natural gas pipelines in the country along with numerous midstream processing plans and terminals nationwi...
by Grt2bOutdoors
Mon Aug 18, 2014 12:01 pm
 
Forum: Investing - Theory, News & General
Topic: Your biggest "Missed Money" event that still kills you?
Replies: 74
Views: 4818

Re: Defined Benefit Plan Costs?

You have two choices, each will carry it's own set of reactions - make the pitch for the "car allowance" (personally, I don't think that will get you any positive traction and may create ill will with your employer putting you high on the list for the first to go in a layoff) or start look...
by Grt2bOutdoors
Mon Aug 18, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 29
Views: 1441

Re: Hw many credit cards to own?

4 - I keep two of them because of their long age.
I mainly use the Capital One card due to the cash-back feature and great foreign currency rates.
by Grt2bOutdoors
Mon Aug 18, 2014 10:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Hw many credit cards to own?
Replies: 107
Views: 6337

Re: Rebalance + stay the course ... or dial it down on stock

Hello and welcome to the forum! We generally recommend no more than 75% in equity and no less than 25% in fixed income. A typical allocation for a 47-50 year old may be in the range of 70/30 or 60/40 ranging down to 50/50 or 40/60 at around age 60+. A 70/30 mix between domestic and international is ...
by Grt2bOutdoors
Sat Aug 16, 2014 10:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rebalance + stay the course ... or dial it down on stocks
Replies: 10
Views: 1847

Re: KMR - what to do?

KMR is trading in line with the proposed acquisition price. Have you read the proposed details yet? KMI will give holders of KMR approximately 2.4849 shares of KMI in exchange for your units. If KMI is trading at $41 close of Friday, 8/15 that means the exchange value is not $89.75 a share, it is $1...
by Grt2bOutdoors
Sat Aug 16, 2014 10:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: KMR - what to do?
Replies: 2
Views: 304

Re: Europe travel: best card for ATM cash

Does anyone know what kind of exchange rate you get in a large retail bank in Germany, changing dollars to Euros? I normally just use my debit card at an ATM, but my bank has a 3% foreign exchange fee. I know that's better than what you get at exchange shops in airports but a retail bank branch mig...
by Grt2bOutdoors
Sat Aug 16, 2014 9:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Europe travel: best card for ATM cash
Replies: 33
Views: 1794

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

An SUV is not any more safer than a car, in fact, an SUV comes with it's own set of problems - it's a heavier vehicle, needs more time to stop and your insurance cost will likely go up. SUV's have a high center of gravity, some of them are prone to flip over in accidents. If you want absolute safety...
by Grt2bOutdoors
Sat Aug 16, 2014 9:44 pm
 
Forum: Personal Consumer Issues
Topic: Is buying two SUVs a sane/good financial move?
Replies: 63
Views: 3600

Re: which insurance company?

Had never thought of more than one SPIA, thanks for these suggestions. I am not ready to buy yet, but need to be aware of what companies are good choices, Purchase your annuities in $100K increments at different companies - in essence, you are laddering your annuities and spreading your risk around...
by Grt2bOutdoors
Sat Aug 16, 2014 4:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: which insurance company?
Replies: 7
Views: 649

Re: Help me understand my credit report

I would guess that this means # of new accounts opened during the previous twelve months. I have another line that says my score was affected by # of new accounts opened during the past 12 months. Any other thoughts? You can interpret that to mean the number of new accounts opened in the past 12 mo...
by Grt2bOutdoors
Sat Aug 16, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help me understand my credit report
Replies: 14
Views: 1507

Re: Savings Percentage

My wife and I are subscribers to the bogleheads / LBYM philosophy, but as a metrics guy I'm interested to get a better understanding of the rule of thumb that I hear regarding what percentage of earnings we should be saving. When people say aim for 20% or 30% of earnings, is that pre-tax or post-ta...
by Grt2bOutdoors
Sat Aug 16, 2014 4:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 4900

Re: Hello and Help!

We don't advocate speculative investments - we advocate low cost index investing, buy and hold stay the course investing. Recommend you pick up a copy of A Random Walk Down Wall Street and read it. Fastest way for you to lose your shirt is to touch - options, futures, exotic currencies, metals, comm...
by Grt2bOutdoors
Fri Aug 15, 2014 5:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Hello and Help!
Replies: 5
Views: 471

Re: How much to leave for young children, guardian and famil

My wife and I are in the process of modifying our wills and beneficiaries. Instead of leaving 100% for our child (if we both pass away), we're thinking about leaving some for her legal guardian and a bit for other friends/family who could use it. Ideally, I don't want the legal guardian to have to ...
by Grt2bOutdoors
Fri Aug 15, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to leave for young children, guardian and family
Replies: 12
Views: 1291

Re: Portfolio Allocation for 31 y/o

Conveniently or not, ED fails to show it's true dividend history and seeing as you aren't old enough to remember here is an interesting tidbit about a company that's raised it's dividend for 40 years - in 1974, guess what? They omitted the dividend and subsequently tanked the stock. They were "...
by Grt2bOutdoors
Fri Aug 15, 2014 1:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Allocation for 31 y/o
Replies: 14
Views: 1334

Re: Weekend in Tucson - Kids' Birthday

Mt. Lemmon is nice this time of year, and much cooler than the desert museum, which is interest although anything but cool in August, but do yourself a favor and go first thing in the morning then spend the afternoon up Sabino Canyon or Mt. Lemmon or inside somewhere. Oh, I almost forgot. On your w...
by Grt2bOutdoors
Fri Aug 15, 2014 8:49 am
 
Forum: Personal Consumer Issues
Topic: Weekend in Tucson - Kids' Birthday
Replies: 19
Views: 820

Re: “The more I learn, the more I realize how much I don't k

Keep it simple, don't time the market it's a loser's game.
If it were me, I'd go with 70/30 and be done with it or if more conservative then 60/40 and I would not pay a 1 percent fee.
by Grt2bOutdoors
Fri Aug 15, 2014 7:27 am
 
Forum: Investing - Help with Personal Investments
Topic: “The more I learn, the more I realize how much I don't know"
Replies: 18
Views: 1904

Re: three reading recommendations

Montier is employed by GMO - gmo.com, you can read their quarterly informative newsletters on their current thinking of undervalued areas of the market. Their 2nd quarter letter was just released a few days ago, and as Larry indicated they see higher future returns in emerging markets and internatio...
by Grt2bOutdoors
Thu Aug 14, 2014 10:53 pm
 
Forum: Investing - Theory, News & General
Topic: three reading recommendations
Replies: 11
Views: 1821

Re: House, mortgage and no will -- if parents pass away

Say two parents of an infant pass away and they do not have a will. They own a house with a market value of $200k and have a mortgage of $100k, and have $500k in Vanguard funds. The legal guardian of the infant would like to move into the house. Would the guardian need to pay market value for the h...
by Grt2bOutdoors
Thu Aug 14, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: House, mortgage and no will -- if parents pass away
Replies: 12
Views: 1028

Re: Do you hold cash/money market outside of your emergency

I see different advice in articles varying from 0% of portfolio to 15-20%. Also, is anyone investing in MM/CDs rather than bonds in anticipation of a rate hike? Forgive me if these are dumb questions. I'm trying to get a grasp on the non-equity allocation of my portfolio. This is not a dumb questio...
by Grt2bOutdoors
Thu Aug 14, 2014 11:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Do you hold cash/money market outside of your emergency fund
Replies: 31
Views: 1962

Re: Do you hold cash/money market outside of your emergency

John3754 wrote:I do not, cash allocations are a drag on returns.


:o Especially when the market drops right?
by Grt2bOutdoors
Thu Aug 14, 2014 11:34 am
 
Forum: Investing - Help with Personal Investments
Topic: Do you hold cash/money market outside of your emergency fund
Replies: 31
Views: 1962

Re: Help with investing for children

Use a UTMA account. You would have to have a significant amount of assets in the account before the "kiddie tax" became an issue.
by Grt2bOutdoors
Thu Aug 14, 2014 8:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Help with investing for children
Replies: 25
Views: 1686

Re: Why is Bank of America so hated?

Maybe it has to do with their forced acquisition of Countrywide Mortgage? Maybe it has to do with them owning Mother Merrill?
In any case, maybe we should do the anti-Boglehead thing and take a "flier" on the individual equity :shock: - you know, the contrarian play? :moneybag :greedy
by Grt2bOutdoors
Wed Aug 13, 2014 2:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why is Bank of America so hated?
Replies: 43
Views: 2343

Re: Selling Stock for Down Payment on a House

Do you only own PG or did you at any time participate in two of the "reverse Morris Trust" transactions that occurred between PG and J.M. Smucker? One occurred for the JIF divestiture, the other most recently for Folgers. If you own J.M. Smucker, that means you exchanged shares of your PG ...
by Grt2bOutdoors
Wed Aug 13, 2014 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling Stock for Down Payment on a House
Replies: 5
Views: 516

Re: How much should a New Jersey home inspection cost?

$500 minimum. It rained heavily in NJ last evening into this morning, go visit the home today and see if you see water dripping down the walls or wet spots on the floor of the basement. Prior to purchasing my late 20's built home, I used to visit homes for sale during rainy days, on one particular v...
by Grt2bOutdoors
Wed Aug 13, 2014 11:01 am
 
Forum: Personal Consumer Issues
Topic: How much should a New Jersey home inspection cost?
Replies: 7
Views: 574

Re: Should I "super-fund" my 529 for my kids?

You have $165k today. If you don't 'superfund' your 529, what will you do with the money? Always ask what the alternative is. Thanks for the advice all, very helpful. I have the ~$165K today so the alternate plan would be to put it into a taxable account. If you subscribe to the theory the market i...
by Grt2bOutdoors
Tue Aug 12, 2014 3:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I "super-fund" my 529 for my kids?
Replies: 13
Views: 1316

Re: If only one Vanguard fund to invest in - what's your cal

Toons wrote:Vanguard Balanced Index Admiral VBIAX :happy


+1 Here's another vote for if it ain't broke, don't fix it.
by Grt2bOutdoors
Tue Aug 12, 2014 3:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: If only one Vanguard fund to invest in - what's your call?
Replies: 67
Views: 9140

Re: If only one Vanguard fund to invest in - what's your cal

I would probably select a simple yet effective Target or Life Strategy fund. Best. Simple, yet effective? Similar to the LifeStrategy funds which utilized the 25% allocation to the Asset Allocation Fund managed by an outside provider that had horrendous results due to their inability to properly &q...
by Grt2bOutdoors
Tue Aug 12, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: If only one Vanguard fund to invest in - what's your call?
Replies: 67
Views: 9140

Re: If only one Vanguard fund to invest in - what's your cal

vitaflo wrote:Target Retirement. Set it and forget it.


Before or after the "experts" have tinkered with the asset allocation (addition/deletion of fund composition) and glide path? :P
by Grt2bOutdoors
Tue Aug 12, 2014 3:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: If only one Vanguard fund to invest in - what's your call?
Replies: 67
Views: 9140

Re: How much life insurance? 29 year olds

Get the life insurance before you get pregnant - you could run into un-forseen complications that could put you in a higher risk category or not. Term life insurance will not get cheaper as you get older. You can always drop the policy later on if you feel it doesn't meet your needs. IMO, what is mo...
by Grt2bOutdoors
Mon Aug 11, 2014 4:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 1404
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