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Re: Stronger protection against personal lawsuits

You are correct that there is a risk in the rollover. Absent leaving funds in the 401k you can obtain greater protection by increasing insurance coverages (including umbrella).
by J295
Tue Dec 16, 2014 12:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Stronger protection against personal lawsuits
Replies: 12
Views: 1790

Re: Should CASH be counted in allocation planning

We include cash in our allocation, which has four categories:

Cash
Fixed
Equities
Alternatives

We keep a fairly large cash balance
We do not include our paid for home, cars, etc.
We do not include future social security

We are 55 with one part-time worker.
by J295
Tue Dec 16, 2014 12:19 am
 
Forum: Investing - Help with Personal Investments
Topic: Should CASH be counted in allocation planning
Replies: 15
Views: 1088

Re: Gift to Yourself

by J295
Sat Dec 13, 2014 10:31 am
 
Forum: Personal Consumer Issues
Topic: Gift to Yourself
Replies: 34
Views: 3988

Re: Two Policies Under ACA Exchange

You can definitely buy two separate policies on the exchange, but I don't know how the subsidy calculations work in that case. Thank you. That is my understanding also. Fyi, we are buying two policies instead of one in order so that we each have separate deductible and max out of pocket limits (ins...
by J295
Sat Dec 13, 2014 10:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Two Policies Under ACA Exchange
Replies: 4
Views: 623

Re: Umbrella Liability Insurance - Need it or not?

We have $2 million of coverage.
First, because if we have an occurrence that creates significant loss for someone else then I would like them to receive compensation.
Second, it provides protection for our assets.
Cheers!
by J295
Fri Dec 12, 2014 5:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Liability Insurance - Need it or not?
Replies: 49
Views: 4475

Two Policies Under ACA Exchange

1. Can we purchase two separate policies on the Exchange, one for H and one for W?
2. If we do get two policies, are we eligible for the subsidies (which can only be claimed on a jointly filed tax return)?

Thanks!
by J295
Fri Dec 12, 2014 5:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Two Policies Under ACA Exchange
Replies: 4
Views: 623

Re: Use a Health Care Insurance (ACA) Broker Advise?

Cost is same with or without a broker. So, if you have one you like you might use him/her.
by J295
Sun Dec 07, 2014 10:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Use a Health Care Insurance (ACA) Broker Advise?
Replies: 4
Views: 379

Re: Bah Humbug [managing Christmas spending]

Everyone in the extended family are adults .... for the big family Christmas everyone brings a used book and a new bottle of wine/alcohol ... then we draw numbers and the each person can either grab an unopened gift or "steal" an opened gift from someone else (who then can either grab an u...
by J295
Sun Dec 07, 2014 10:55 pm
 
Forum: Personal Consumer Issues
Topic: Bah Humbug [managing Christmas spending]
Replies: 52
Views: 4614

Re: Who Paid for the wedding?

I'm wondering if many of us repeat for our children our own experiences, especially if they were positive. For example, my in-laws (the bride's parents) paid for our wedding and my parents paid for the rehearsal dinner. Now 33 years later when one of our daughter gets married next summer we are goin...
by J295
Sun Dec 07, 2014 10:48 pm
 
Forum: Personal Consumer Issues
Topic: Who Paid for the wedding?
Replies: 94
Views: 6494

Re: Advice for lock-boxing inheritance for 20 years

Fyi, if an annuity is selected I suspect that the owner could lump sum his/her interest by selling the annuity to a third party and there are no spendthrift protections.
by J295
Sat Dec 06, 2014 3:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice for lock-boxing inheritance for 20 years
Replies: 45
Views: 3649

Re: Avoiding lifestyle creep

I know what we did .... every bonus went to pay extra on the mortgage .... then one day we woke up and no debt !
We personally have enjoyed a sense of freedom that comes from no debt.
by J295
Tue Nov 25, 2014 9:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Avoiding lifestyle creep
Replies: 30
Views: 5434

Re: Where to invest end of year bonus

This won't be the last time you have a lump sum and are uncertain on how to invest it due to then current conditions (too high, too low, too stale, etc.). Personally, we took my bonuses and applied them to home debt and soon .... no home debt! Then, bonuses simply went according to the investment pl...
by J295
Tue Nov 25, 2014 8:50 pm
 
Forum: Investing - Theory, News & General
Topic: Where to invest end of year bonus
Replies: 16
Views: 1493

Re: Personal Tips for a New Father to Be

Congratulations on the upcoming birth. Parenting is a fantastic vocation. I don't think there is one size fits all in terms of parenting, other than unconditional love ... which you have clearly expressed. A good marriage that demonstrates love in action will also help your child. Filter all the adv...
by J295
Fri Nov 21, 2014 10:52 pm
 
Forum: Personal Consumer Issues
Topic: Personal Tips for a New Father to Be
Replies: 31
Views: 3643

Re: [Should I] rent out [my] house [for a 3-day event]?

Sounds like an interesting opportunity to develop some new relationships, obtain a reasonable rental for use of your property, and provide nice accommodations to benefit a family on what most likely is a very significant pilgrimage for them. Take care.
by J295
Tue Nov 18, 2014 3:17 pm
 
Forum: Personal Consumer Issues
Topic: [Should I] rent out [my] house [for a 3-day event]?
Replies: 68
Views: 5255

Re: Winter Coat

Great stuff. Thanks to everyone who has responded.
by J295
Fri Nov 14, 2014 10:32 am
 
Forum: Personal Consumer Issues
Topic: Winter Coat
Replies: 51
Views: 5074

Re: A/A including Social Security?

At age 55 and working (very) part time, our AA on the equity side is 50% (with 5% alternatives, and the balance in fixed and cash). I consider our perspective to be conservative. We do not include our home (no debt) or SS in our AA, and they are nice mental backstops to our portfolio value. Seems li...
by J295
Fri Nov 14, 2014 9:51 am
 
Forum: Investing - Help with Personal Investments
Topic: A/A including Social Security?
Replies: 5
Views: 361

Winter Coat

Have you seen the Plugger cartoon .... well, I'm a plugger with my 20 year old winter coat with the broken zipper that sometimes works if I use a paper clip to coax it up or down. Granted I only wear it to walk the dog and do outside winter work (I have a nice leather jacket and wool top coat), but ...
by J295
Fri Nov 14, 2014 9:39 am
 
Forum: Personal Consumer Issues
Topic: Winter Coat
Replies: 51
Views: 5074

Re: Not qualified for my job - what to do?

I am reading some great insights, which are actually pretty inspirational and I'm posting now to re-affirm. Whether you should stick this out or move on depends on a number of factors that only you can ultimately determine. One big question I would ask myself is: Do I have the drive and ability to d...
by J295
Fri Nov 14, 2014 9:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Not qualified for my job - what to do?
Replies: 42
Views: 5096

Re: If your networth is over $3 million, how did you do it?

Which sort of makes me mad because the reality is I rather be living with him now in the gutter, eating beans than a comfortable retirement at his expense. Unfortunately no one gets to make that choice. I will say I would have rather taken that trip to Europe with him that not going (which is what ...
by J295
Thu Nov 13, 2014 7:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: If your networth is over $3 million, how did you do it?
Replies: 270
Views: 33351

Re: Revocable to Irrevocable Living Trust

Some observations ..... My hesitation is with the Irrevocable Living Trusts for my sons. I am completely at ease with my son’s financial sense and have no problem with them managing money and whether they wish to spend or save their inheritance. Then you may consider outright distributions to your s...
by J295
Wed Nov 12, 2014 9:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Revocable to Irrevocable Living Trust
Replies: 7
Views: 1065

Re: Gathering thoughts vs. Market Timing

See this post for my input on how I have advised our adult children and other family members who have asked for financial guidance -- your financial situation is similar to some of their situations. http://www.bogleheads.org/forum/viewtopic.php?f=1&t=149408 As for your difficulties staying the c...
by J295
Tue Nov 11, 2014 8:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Gathering thoughts vs. Market Timing
Replies: 56
Views: 3769

Re: What if....?

Follow my IPS and re-balance if warranted.
by J295
Mon Nov 10, 2014 7:06 pm
 
Forum: Personal Consumer Issues
Topic: What if your investable assets rise significantly?
Replies: 19
Views: 2237

Re: For the next year or so, why shouldn't we be in all-cas

Please don't admonish me that I am trying market timing; rebalancing is market timing, too, but at an arbitrary calendar date. I don't view rebalancing as market timing, and I will respect your request that we don't admonish you for trying market timing. While market timing isn't for me, and I don'...
by J295
Mon Nov 10, 2014 7:03 pm
 
Forum: Investing - Theory, News & General
Topic: For the next year or so, why shouldn't we be in all-cash?
Replies: 54
Views: 7518

Re: Supreme Court Blues

I would not let the pending court decision impact my work (or non-work) plans. In fact, things were in a state of flux insurance wise when I transitioned to part-time two years ago at age 53. The health care situation for us was fluid (at the last minute BC/BS decided that they would not provide me ...
by J295
Sat Nov 08, 2014 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Supreme Court Blues
Replies: 34
Views: 2210

Re: ObamaCare vs. Private Insurance??

We have insurance through the federal exchange with BC/BS. We don't really know about coverage issues because we haven't experienced any significant health costs this year. We didn't have an option for private individual plans due to pre-existing conditions (we are healthy and active at age 55, but ...
by J295
Sat Nov 08, 2014 8:38 am
 
Forum: Personal Finance (Not Investing)
Topic: ObamaCare vs. Private Insurance??
Replies: 105
Views: 11794

Re: What if I Never Buy a House?

You are completely fine financially and otherwise if you don't buy a house.
Good luck.
by J295
Sat Nov 08, 2014 8:24 am
 
Forum: Personal Finance (Not Investing)
Topic: What if I Never Buy a House?
Replies: 57
Views: 7556

Re: New car - should I pay cash or use credit?

We personally sleep better at night with no debt, and haven't had any since our home was paid off sometime around age 40. So, we would pay cash. Have a great weekend.
by J295
Sat Nov 08, 2014 8:20 am
 
Forum: Personal Finance (Not Investing)
Topic: New car - should I pay cash or use credit?
Replies: 32
Views: 4668

Re: How did you buy your largest home?

First home out of law school .... 5% down, lots of seat equity and frozen pizzas, and sheets on the windows for a long time Second home 8 years later .... all the equity and savings we had (driving 10 year old van and car, and paid off mortgage in about 10 years) Third home 22 years later .... cash ...
by J295
Fri Oct 24, 2014 7:32 am
 
Forum: Personal Finance (Not Investing)
Topic: How did you buy your largest home?
Replies: 25
Views: 2713

Re: Should I Sue?

Tough break. If you were to prevail I suspect your recovery would be capped at the current fair market value of a used sectional. It seems cost prohibitive and challenging to engage legal counsel (most busy capable lawyers will pass on something like this). Any litigation has an emotional non-financ...
by J295
Fri Oct 24, 2014 7:00 am
 
Forum: Personal Consumer Issues
Topic: Should I Sue? [couch damaged in garage of rental]
Replies: 39
Views: 3320

Re: Buying a home / renting it to a friend

My perspective includes 30 years as a creditors rights attorney.
Friend or not, I'd personally pass on this opportunity.
by J295
Fri Oct 24, 2014 6:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Buying a home / renting it to a friend
Replies: 20
Views: 992

Re: Turning 25 with 69k in savings.

Welcome! Congratulations on your great financial start, and for your interest in this topic at your age. Perhaps you'd find the below valuable, which we have shared with our adult children and some others who are about your age who have requested our opinion ...... In any case, best of luck. Histori...
by J295
Fri Oct 24, 2014 6:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Turning 25 with 69k in savings.
Replies: 18
Views: 3120

Re: How often do you change your car's oil?

Every 6,000 miles with synthetic oil.
by J295
Fri Oct 24, 2014 6:35 am
 
Forum: Personal Consumer Issues
Topic: How often do you change your car's oil?
Replies: 168
Views: 12271

Re: Do you regret buying your home?

We have owned three homes .... loved each one .... the old saying about the three most important things in real estate are true .... location, location, location ...
by J295
Thu Oct 23, 2014 2:46 pm
 
Forum: Personal Consumer Issues
Topic: Do you regret buying your home?
Replies: 82
Views: 7228

Re: Estate planning - big firm or solo practitioner?

Here are my thoughts from another thread ..... best wishes .... I am a lawyer with 30 years private practice law firm experience (full time until age 53, and now part time). I and my clients have experience hiring other lawyers, accountants, brokers, etc. I almost always rely on personal referrals f...
by J295
Thu Oct 16, 2014 7:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate planning - big firm or solo practitioner?
Replies: 22
Views: 2233

Re: Retired, my viewpoint has changed again.

malloc -- thanks for sharing your insights. Awareness is a great thing (one of my favorite mystics observes that most people go through life sleepwalking). I concur with your distaste for living inward and "small." Perhaps you'll appreciate Einstein's observation who reportedly said: "...
by J295
Thu Oct 16, 2014 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retired, my viewpoint has changed again.
Replies: 22
Views: 3260

Re: Non performance by executrix

Respectfully, I think next steps for you/your spouse on the matter are simple though not easy. Call the PR/executorix and ask her if she wants you/your spouse to take over, and if not get a commitment from her for a firm date for specific action, and if that's not met then hire a lawyer. If you don'...
by J295
Mon Oct 13, 2014 1:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Non performance by executrix
Replies: 39
Views: 3323

Re: Building a New House, Advice please.

To echo some of the earlier posts .... location and details are critical. We love the creative and team work aspects of a project like the one you are embarking on. Have fun! A couple of random thoughts ..... ** Prepare yourself emotionally and financially for obstacles -- that's the nature of const...
by J295
Sun Oct 12, 2014 10:56 am
 
Forum: Personal Consumer Issues
Topic: Building a New House, Advice please.
Replies: 66
Views: 6009

Re: Lawyer fee question?

I am a lawyer and also hire lawyers, accountants, and other professionals as part of my work. My guess is that the lawyer believed it in your best interests to continue to prepare for the litigation so that your interests would be protected in the event a settlement was not achieved. That would seem...
by J295
Sun Sep 28, 2014 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lawyer fee question?
Replies: 32
Views: 2218

Re: Buy today or stick to plan?

Stick to your plan.
If you no longer believe in your plan, then change your plan.
Personally, our IPS only permits a plan change if we decide on the change and then wait three months and still then desire to make the plan change.
Enjoy the weekend.
by J295
Fri Sep 26, 2014 8:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Buy today or stick to plan?
Replies: 29
Views: 2987

Re: College-bound teens and finances

Our kids are financially independent college grads. We are a close supportive family, but they all learned through experience how to navigate the financial realities of life. Starting in junior high they each got stipends every six months which they could use or save as they saw fit for nearly all o...
by J295
Wed Sep 10, 2014 12:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: College-bound teens and finances
Replies: 35
Views: 2646

Re: Tennis Role Reversal

Fantastic that your enthusiasm is at such a high level. As for predicting the outcome of your match .... in my estimation it depends on your young opponents skill set more than his/her age ... I played #1 singles in high school with good outcomes (all city, conference champ, state semis, etc.), and ...
by J295
Mon Sep 08, 2014 9:08 pm
 
Forum: Personal Consumer Issues
Topic: Tennis Role Reversal
Replies: 13
Views: 1335

Re: Advice on job opportunity abroad: taxes, cost of living,

I am very excited about the prospect of moving from a personal perspective (very interested in the region and speak Spanish fluently, want to get international exposure in my career, etc.), but have a few hesitations from a financial point of view. It seems like with many significant decisions ther...
by J295
Sun Aug 31, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice on job opportunity abroad: taxes, cost of living, etc
Replies: 13
Views: 1257

Re: Sports Motivation Waning

We are a family of overachievers, including competitive sports at a high level. My best sport was tennis, although I no longer play. I share that only so you'll know my background in reading my comments. You may want to take a year of embracing this new dynamic and flesh out what it says about you a...
by J295
Sat Aug 30, 2014 6:07 am
 
Forum: Personal Consumer Issues
Topic: Sports Motivation Waning
Replies: 18
Views: 1691

Re: How to find a lawyer for estate planning?

I am a lawyer with 30 years private practice law firm experience (full time until age 53, and now part time). I and my clients have experience hiring other lawyers, accountants, brokers, etc. I almost always rely on personal referrals from trusted friends or acquaintances. For an estate plan lawyer ...
by J295
Wed Aug 27, 2014 10:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to find a lawyer for estate planning?
Replies: 16
Views: 875

Re: I need "Ultra High Net Worth" investing advice please

I truly trust my attorney and he did offer to get me in contact with the above people that handle his finances and firm as well others I know. You may consider having this trusted counsel kept in the loop as part of your team even if his area of expertise is not estate planning. Your trust in him a...
by J295
Sun Aug 24, 2014 7:45 am
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 227
Views: 21103

Re: In the very early process of starting a business. ?'s

Get a great accountant and he/she can help you select software for tracking income and expenses (i.e. quick books). As for the Roth IRA contribution it will likely turn on how you structure your activities and account for and characterize your income and expenses (sole proprietorship vs. entity, etc...
by J295
Fri Aug 22, 2014 12:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: In the very early process of starting a business. ?'s
Replies: 4
Views: 558

Re: What to consider while purchasing an existing business?

I recognize you did not ask whether or not you should purchase this business. Nonetheless, I will share a couple of observations for your consideration: 1. Before pulling the trigger I would recommend detailed due diligence, and a detailed business plan. 2. Typically, you would want input from an ex...
by J295
Fri Aug 22, 2014 10:04 am
 
Forum: Personal Finance (Not Investing)
Topic: What to consider while purchasing an existing business?
Replies: 50
Views: 4402

Re: Do you tip on the tax?

by nisiprius » Fri Aug 22, 2014 6:45 am I tip in cash and I round up to some nice round number. My wife and I negotiate on the amount--it's sort of potlatch, we tend to raise each other's suggestions rather than reduce them--and it is partially based on our joint currency holdings. The starting poi...
by J295
Fri Aug 22, 2014 8:10 am
 
Forum: Personal Consumer Issues
Topic: Do you tip on the tax? [Restaurants]
Replies: 124
Views: 5584

Re: Retiree Poll: Do you do any volunteer work?

While working full time I did a lot of "board of director" type volunteer work. After transitioning to part time I made a conscious decision to volunteer "on the ground." So, now I visit hospital patients once per week and offer them Communion, volunteer as a patient escort at a ...
by J295
Thu Aug 21, 2014 6:10 pm
 
Forum: Personal Consumer Issues
Topic: Retiree Poll: Do you do any volunteer work?
Replies: 32
Views: 2613

Interior Door Leverset

Anyone have experience with A. Homehardware4less B. Emtek interior door hardware (modern suttgart leverset). We are having our cabinet maker make our interior doors, which will be higher quality than the typical mdf type doors purchased from the lumber yard, and we want to accordingly purchase highe...
by J295
Tue Aug 19, 2014 2:23 pm
 
Forum: Personal Consumer Issues
Topic: Interior Door Leverset
Replies: 3
Views: 446
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