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Re: Why Buying a *New* Car Makes Sense? Please help!

More 'upscale' cars the odds are it would make overwhelming sense to go slightly used. Why is that ? Could you please elaborate? My guess would be that people trade up higher class cars moreso then mid class. Maybe more are done on leases. Have no clue. A 2015 Q50 Truecar price is 39,294. Browsing ...
by Leesbro63
Tue Mar 31, 2015 11:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Why Buying a *New* Car Makes Sense? Please help!
Replies: 52
Views: 3355

Re: Why Buying a *New* Car Makes Sense? Please help!

More 'upscale' cars the odds are it would make overwhelming sense to go slightly used. Why is that ? Could you please elaborate? I drive Lexuses and I've found this NOT to be true. In other words, even at the Lexus cost level, the price of slightly used is too close to new to not just buy new. With...
by Leesbro63
Tue Mar 31, 2015 7:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Why Buying a *New* Car Makes Sense? Please help!
Replies: 52
Views: 3355

Re: Why Buying a *New* Car Makes Sense? Please help!

i dont understand why the holding periods are different either. I have flipped cars after 1-3 years (buy used and sell used) and I flip when I need something different for work or family, or personal preference, or want a different technology (for example, awd, or hatchback etc). I have never held ...
by Leesbro63
Tue Mar 31, 2015 6:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Why Buying a *New* Car Makes Sense? Please help!
Replies: 52
Views: 3355

Re: Why Buying a *New* Car Makes Sense? Please help!

It doesn't make sense economically, when slightly used cars that could save you a lot of money over the long run are for sale everywhere. Emotionally? yeah! makes a lot of sense. Americans love their new shiny car every 3-4 years. But this is not the case. Slightly used cars, for quite a few years ...
by Leesbro63
Mon Mar 30, 2015 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why Buying a *New* Car Makes Sense? Please help!
Replies: 52
Views: 3355

Re: Implications of the "Cadillac" tax of the ACA

My observation is that people should make health insurance decisions on a year to year basis only. It's folly to plan for 2 years into the future with regard to healthcare. The targets are moving too fast.
by Leesbro63
Mon Mar 30, 2015 1:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Implications of the "Cadillac" tax of the ACA
Replies: 29
Views: 2609

Re: Advice On Dealer's Offer to Exchange Old for new car

They are not offering to "exchange" your car. They are trying to SELL a new car. Do you want to be sold?
by Leesbro63
Mon Mar 30, 2015 1:38 pm
 
Forum: Personal Consumer Issues
Topic: Advice On Dealer's Offer to Exchange Old for new car
Replies: 19
Views: 1633

Re: Vanguard Account Protection

I take this potential problem VERY seriously. But I keep asking this question and can't find anyone who says "yes": Do you know of anyone who ever had money heisted out of a bank/brokerage/mutual fund/Vanguard account via cyberfraud or do you even know of anyone who knows of anyone who did?
by Leesbro63
Sat Mar 28, 2015 1:15 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Account Protection
Replies: 6
Views: 727

Re: Wise move to move some $ to cash before bear market?

"2009 25.94% 2010 14.82% 2011 2.10% 2012 15.89% 2013 32.15% 2014 13.48% With numbers like that in our recent history, anything above zero is a blessing. Returns have been so stellar that simple reversion to the mean would suggest we're due for a down year. " What if you start 10 years ago...
by Leesbro63
Thu Mar 26, 2015 9:34 pm
 
Forum: Investing - Theory, News & General
Topic: Wise move to move some $ to cash before bear market?
Replies: 99
Views: 9230

Re: Bonds: Bernstein vs. Swedroe and Ferri

galeno wrote:This long thread makes me glad that we use one TBM ETF for all of our bond needs. My only job is to keep it around 30-40% of port.


Dr. Bernstein has argued that your 30-40% "safe money" is not.
by Leesbro63
Thu Mar 26, 2015 8:36 pm
 
Forum: Investing - Theory, News & General
Topic: Bonds: Bernstein vs. Swedroe and Ferri
Replies: 96
Views: 10398

Re: How do you store your photos?

I send each of my adult children the updated total archive of family photos (since going digital in 2003) each year on a flashdrive. Someday there will be a standardized, commonly-understood place where family photos belong. Until then, I keep sending copies of the archive in hopes that someone will...
by Leesbro63
Thu Mar 26, 2015 1:34 pm
 
Forum: Personal Consumer Issues
Topic: How to store/archive old photos?
Replies: 29
Views: 2491

Re: Route to an $8 Million Portfolio Started With Frugal Liv

I'd bet with all those stocks his overall portfolio performed like the market/Total Market fund. But he's a pre-historic Boglehead. Used the best tools available to him during his era to live below his means and invested in buy and hold equities. Isn't Taylor Larimore about the same age, though? Pe...
by Leesbro63
Sat Mar 21, 2015 9:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Route to an $8 Million Portfolio Started With Frugal Living
Replies: 31
Views: 4958

Re: Legal for Doctor to Cover Insurance Co-pay?

There used to be an auto body shop near us that had a big "SAVE YOUR DEDUCTIBLE" sign. It was there for years.
by Leesbro63
Sat Mar 21, 2015 10:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Legal for Doctor to Cover Insurance Co-pay?
Replies: 40
Views: 2912

Re: Route to an $8 Million Portfolio Started With Frugal Liv

I'd bet with all those stocks his overall portfolio performed like the market/Total Market fund. But he's a pre-historic Boglehead. Used the best tools available to him during his era to live below his means and invested in buy and hold equities.
by Leesbro63
Sat Mar 21, 2015 10:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Route to an $8 Million Portfolio Started With Frugal Living
Replies: 31
Views: 4958

Re: Why I don't file early

I hear the later you file the less likely you are to be audited. Best to file an extension I believe. I've also heard this. The version I heard was that IRS employees have an annual audit quota that they want to satisfy asap. More likely that early filers are getting refunds whereas late filers owe...
by Leesbro63
Sat Mar 21, 2015 10:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Why I don't file early
Replies: 35
Views: 3375

Re: Why I don't file early

I filed this week. I used to wait until April 14th because I did get late brokerage 1099 corrections. I also keep a log of who sent me late 1099s when. It seems that by St. Patty's day I've been OK. So to balance the risk of someone filing a fraudulent return against the risk of a late 1099 correcti...
by Leesbro63
Sat Mar 21, 2015 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Why I don't file early
Replies: 35
Views: 3375

Re: Why I don't file early

Best to plan so that you owe taxes and file late. Scammers that use your SS to get a refund don't cost you anything other than time to get your refund. I agree. If you manage your taxes such that you owe a payment in April, I don't see what filing early will accomplish. If the bad guys have stolen ...
by Leesbro63
Sat Mar 21, 2015 9:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Why I don't file early
Replies: 35
Views: 3375

Re: Received Confusing IRS Letter

I can't help you with your specifics. But I can tell you that I've gotten letters from the IRS before that I knew were wrong. The way I've always handled it was in writing by certified mail. I've never called or faxed anything in. Write a very clear and concise letter explaining why you believe thei...
by Leesbro63
Fri Mar 20, 2015 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Received Confusing IRS Letter
Replies: 8
Views: 1379

Re: Does your CPA/Tax Person help with reducing your taxes?

I wonder if sometimes offering advice on how to reduce taxes is anti-Bogleheadish? I know of people who had tax preparers tell them to take the biggest mortgage they can get "because the interest is tax deductible". And others who should have been in Roth IRAs who were advised to do tIRAs ...
by Leesbro63
Fri Mar 20, 2015 10:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Does your CPA/Tax Person help with reducing your taxes?
Replies: 58
Views: 4735

Re: IRA owner's health declined. Should beneficiaries change

My experience with nursing homes is that the care is dependent on how often someone visits. Better nursing homes can do a less-than-stellar job if grandma is dumped and no one visits, even if she is "full pay". And Medicaid places can be excellent if the staff knows that someone will be th...
by Leesbro63
Thu Mar 19, 2015 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA owner's health declined. Should beneficiaries change?
Replies: 27
Views: 1378

Re: IRA owner's health declined. Should beneficiaries change

One factor to consider by letting the IRA pass to the OP and his brother is that it if mom does eventually end up in a nursing home, that money will have long ago legally passed out of the marital estate to the adult children. And can be shielded from having to be used to pay mom's nursing home cost...
by Leesbro63
Thu Mar 19, 2015 3:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA owner's health declined. Should beneficiaries change?
Replies: 27
Views: 1378

Re: helping adult children with house downpayment

My grandparents helped my parents with a down payment. My parents helped most of their children with a down payment. They helped me in a different way. Homes provide stability. Young people often have massive potential for future earnings, but not much in the way of accumulated wealth that can be u...
by Leesbro63
Thu Mar 19, 2015 11:21 am
 
Forum: Investing - Theory, News & General
Topic: helping adult children with house downpayment
Replies: 30
Views: 2680

Re: helping adult children with house downpayment

I did something similar about 10 years back. Since the amount of my gift was way above the gift exclusion at the time, I structured it as a loan with interest according to the prevailing rate on BankRate at that time. I forgave the interest which was less than the gift exclusion amount at the end o...
by Leesbro63
Thu Mar 19, 2015 8:05 am
 
Forum: Investing - Theory, News & General
Topic: helping adult children with house downpayment
Replies: 30
Views: 2680

Re: "Assessing the Risk of Using Just One Fund Company.."

A few questions to ask yourself after reading Vanguard's policy regarding unauthorized withdrawals from your account. 1. Do you have an up-to-date firewall installed on your computer? If not then Vanguard says they don't have to cover losses for assets stolen via unauthorized online transactions. H...
by Leesbro63
Thu Mar 19, 2015 7:03 am
 
Forum: Investing - Theory, News & General
Topic: "Assessing the Risk of Using Just One Fund Company.."
Replies: 18
Views: 2773

Where is Larry Swedroe

I kinda miss Larry. I know that he's been on and off Bogleheads from time to time. Does he still publish articles? I used to read them on CBS.com or something like that, but I don't see him any more. Don't get me wrong, I also appreciate the other Gurus who post here and publish. But wondering about...
by Leesbro63
Thu Mar 19, 2015 7:01 am
 
Forum: Investing - Theory, News & General
Topic: Where is Larry Swedroe
Replies: 18
Views: 4147

Re: "Assessing the Risk of Using Just One Fund Company.."

IMHO the strongest reason to consider having some money away from your main portfolio is the likelihood of a cyberattack that takes down the website and disables it for some period of time while the victim works to resurrect records and access. The odds of theft IMHO are much less than the odds of ...
by Leesbro63
Thu Mar 19, 2015 6:20 am
 
Forum: Investing - Theory, News & General
Topic: "Assessing the Risk of Using Just One Fund Company.."
Replies: 18
Views: 2773

Re: 68% annual returns with no risk-Business Insider Magazin

This isn't really about investment returns. It's about a guy/family with a lucky break involving a business (insurance) contract.
by Leesbro63
Wed Mar 18, 2015 7:23 pm
 
Forum: Investing - Theory, News & General
Topic: 68% annual returns with no risk-Business Insider Magazine
Replies: 5
Views: 1331

Re: Who's buying Oil stocks?

abuss368 wrote:I read last week that T. Boone Pickens invested in even more oil and energy stocks.


Be careful here. I can clearly remember him saying, in 2008, that oil would never again be below $100.
by Leesbro63
Tue Mar 17, 2015 10:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Who's buying Oil stocks?
Replies: 106
Views: 11440

Re: If 2% is real, we are . . . . ?

midareff wrote: The other side of logic is we have had six years of feasting on bull and it won't continue forever.


How does it all look if you start before the crash? Let's say look at the last 10 years? 15?
by Leesbro63
Mon Mar 16, 2015 9:50 am
 
Forum: Investing - Theory, News & General
Topic: If 2% is real, we are . . . . ?
Replies: 63
Views: 6243

Re: IRA Question Involving 60something Couple

So let's say in my scenario (I am the OP) the husband dies soon. Wife is 69 and he is 67. She waits until 2018, the year in which he would have turned 70 1/2. She is now 72 has has been taking RMD's from her own IRA for 2 years. She did NOT roll his IRA into her IRA when he died in 2015. Now in 2018...
by Leesbro63
Mon Mar 16, 2015 9:35 am
 
Forum: Personal Finance (Not Investing)
Topic: IRA Question Involving 60something Couple
Replies: 9
Views: 869

Re: IRA Question Involving 60something Couple

As a sole spousal beneficiary, his wife can maintain his IRA in inherited status and does not have to take an RMD as beneficiary until the year the deceased spouse would have reached 70.5. When that year arrives, she should assume ownership as her own IRA because her RMD in that year as owner will ...
by Leesbro63
Sat Mar 14, 2015 6:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Question Involving 60something Couple
Replies: 9
Views: 869

Re: Friend Leased A Car With Free Maintenance Now Dealer Gon

It's probably a dealer product and your friend is out of luck. That being said, if enough customers make noise, Kia might do something to prevent badmouthing the brand. But they probably are under no legal obligation to honor this.
by Leesbro63
Sat Mar 14, 2015 4:11 pm
 
Forum: Personal Consumer Issues
Topic: Friend Leased A Car With Free Maintenance Now Dealer Gone
Replies: 9
Views: 1701

IRA Question Involving 60something Couple

A friend of mine is 67 and his wife is 69. He asked me a question that I did not known the answer to. His plan is to not tap his SEP IRA until he is 70 1/2. His wife is the beneficiary. If he should die soon, I believe she can roll it into her IRA. But does she have the option of NOT doing that and ...
by Leesbro63
Sat Mar 14, 2015 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Question Involving 60something Couple
Replies: 9
Views: 869

Re: Is PA a good state for retirees?

Another factor to consider is exactly where in PA are you talking about. Western PA is more midwestern like Ohio, and eastern PA is, well, more eastern. Also more ex-urban versus urban is different. Property taxes are very high in Allegheny County (Pittsburgh area) but much much lower in neighboring...
by Leesbro63
Fri Mar 13, 2015 12:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is PA a good state for retirees?
Replies: 23
Views: 2102

Re: Automobile protectants

Total dealer profit. Most new cars will still look relatively good in 10 years, if not abused, even if you never wash it.
by Leesbro63
Fri Mar 13, 2015 11:22 am
 
Forum: Personal Consumer Issues
Topic: Automobile protectants
Replies: 15
Views: 991

Re: Is PA a good state for retirees?

PA may become even more friendly to retirees if Governor Wolf's budget is passed as is. His budget will raise income taxes (which are not assessed on SS and 401k/IRA withdrawals) and sales tax (which is not assessed on groceries and clothing) and give property tax relief to low income individuals a...
by Leesbro63
Fri Mar 13, 2015 10:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Is PA a good state for retirees?
Replies: 23
Views: 2102

Re: Is PA a good state for retirees?

Another factor to consider is that PA has an inheritance tax, currently 4.5% from parents to children. More for other relationships. (No tax between spouses however). Many "old rich people" move to Florida (or at least live there for a full 6 months per year) to prevent this and to escape ...
by Leesbro63
Fri Mar 13, 2015 9:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Is PA a good state for retirees?
Replies: 23
Views: 2102

Re: Do you really need 2.5 million to retire well?

Excellent point. We're already seeing that with Millennials, as they are in no hurry (or perhaps cannot afford) to buy cars and houses. The financial crisis seems to have changed the paradigm for young people just entering the workforce and if there is a retirement crisis, the paradigm will change a...
by Leesbro63
Fri Mar 13, 2015 8:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Do you really need 2.5 million to retire well?
Replies: 121
Views: 12795

Re: Bernstein: 2% investment returns over next 20 years

It seems that this line of thinking assumes that assets are to be treated as if they would be worth half of current value As an old timer, i recall a post from wbern, when the *almost* bear market of 2011 hit. He said that people who rebalanced out of stocks beforehand should thank their lucky star...
by Leesbro63
Thu Mar 12, 2015 8:44 am
 
Forum: Investing - Theory, News & General
Topic: Bernstein: 2% investment returns over next 20 years
Replies: 216
Views: 22915

Re: Bernstein: 2% investment returns over next 20 years

I was thinking the same thing...that Dr. Bernstein is saying both stocks and bonds are in a bubble. It seems that this line of thinking assumes that assets are to be treated as if they would be worth half of current value and a 2% SWR is the new 4% (which started 20 years ago as the new 8%). Bonds c...
by Leesbro63
Wed Mar 11, 2015 8:02 pm
 
Forum: Investing - Theory, News & General
Topic: Bernstein: 2% investment returns over next 20 years
Replies: 216
Views: 22915

Re: If 2% is real, we are . . . . ?

On the flip side, if returns are that low, debt rates will be low as well. This would keep mortgages, rents, and student debt costs down. It also slows income tax bracket creep. In general there is no income tax bracket creep anymore, as rates are adjusted for inflation. (Although the amount of Soc...
by Leesbro63
Wed Mar 11, 2015 6:51 pm
 
Forum: Investing - Theory, News & General
Topic: If 2% is real, we are . . . . ?
Replies: 63
Views: 6243

Re: If 2% is real, we are . . . . ?

I saw an interesting comment under the original article that I'll repeat here: If the real return going forward can only be expected to be 2%, it will be interesting to see how paid advisors justify taking half that in fees. :wink:
by Leesbro63
Wed Mar 11, 2015 1:03 pm
 
Forum: Investing - Theory, News & General
Topic: If 2% is real, we are . . . . ?
Replies: 63
Views: 6243

Re: Do you really need 2.5 million to retire well?

The fly in the ointment is healthcare costs and the fact that things change. Without getting into discussions of speculation not permitted here, it might be prudent to assume that retirement for younger babyboomers (and those even younger) than that might look different than how it looks for those r...
by Leesbro63
Wed Mar 11, 2015 12:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do you really need 2.5 million to retire well?
Replies: 121
Views: 12795

Re: Rebalancing into a black hole

A pretty thorough discussion of exactly this, right here: http://www.bogleheads.org/forum/viewtop ... 10&t=97225
by Leesbro63
Tue Mar 10, 2015 6:39 pm
 
Forum: Investing - Theory, News & General
Topic: Rebalancing into a black hole
Replies: 12
Views: 1296

Re: Loaning money to an only child

Just a tangential side note: If you live in a high income tax state, you might SERIOUSLY make sure that your 4-6 month annual time in Florida is actually 6 months. And whatever else is necessary to qualify for residency/qualify for NON-residency in your "old" state. And therefore have no s...
by Leesbro63
Sun Mar 08, 2015 1:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Loaning money to an only child
Replies: 17
Views: 1411

Re: Can Medicaid Look Back Here?

Not looking for controversy. Just wondering about this. In the spirit of cooperation, I'll consider this the end of the discussion.
by Leesbro63
Sat Mar 07, 2015 3:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can Medicaid Look Back Here?
Replies: 10
Views: 1405

Re: Can Medicaid Look Back Here?

But it's not a gift. It's a bequeathment at death. Which is the essence of the question. Is a bequeathment at death treated the same was a gift made during lifetime for purposes of Medicaid qualification?
by Leesbro63
Fri Mar 06, 2015 11:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can Medicaid Look Back Here?
Replies: 10
Views: 1405

Re: Can Medicaid Look Back Here?

As I stated in the original post, all of the $300,000 is in his name (only) as a POD account. Not a joint (JTWROS) account.
by Leesbro63
Fri Mar 06, 2015 8:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can Medicaid Look Back Here?
Replies: 10
Views: 1405

Re: Can Medicaid Look Back Here?

Payable On Death accounts don't go through probate so "the Will" is not at issue here. They are like life insurance or IRA accounts...with a designated beneficiary who directly receives the money without probate. That being said, you did answer my question, thank you. If I understand your ...
by Leesbro63
Fri Mar 06, 2015 7:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can Medicaid Look Back Here?
Replies: 10
Views: 1405

Can Medicaid Look Back Here?

Interesting situation involving family members. Elderly aunt and uncle have no children. He's in bad shape and probably won't be around for much longer. She is frail but healthy. They have about $300,000, all in his name in POD accounts payable to a niece. Assuming Uncle goes first and Aunt soon the...
by Leesbro63
Fri Mar 06, 2015 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Can Medicaid Look Back Here?
Replies: 10
Views: 1405

Re: Help with letter from IRS about 2013 529 distribution

HoneyBee wrote:Thank you. I think I will go with the minimalist approach.


Good luck. The worst that can happen is they ask for more info. Let us know what happens.
by Leesbro63
Mon Mar 02, 2015 8:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with letter from IRS about 2013 529 distribution
Replies: 13
Views: 1141
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