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The History of Credit Bureaus

I am wondering about the history of credit bureaus. How did they come to be and how did they work before computers? I recall going with my father in the late 1960s to buy a car. It took A day for the dealer to call back to let him know the credit was approved. A lot different than today's point and ...
by Leesbro63
Tue Apr 22, 2014 8:52 am
 
Forum: Personal Finance (Not Investing)
Topic: The History of Credit Bureaus
Replies: 1
Views: 231

Re: From Rags to Riches to Rags (NYTimes.com)

I wonder if those of us who did big ROTH IRA conversions are considered as "big earners" in those years?
by Leesbro63
Sun Apr 20, 2014 5:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: From Rags to Riches to Rags (NYTimes.com)
Replies: 8
Views: 2412

Re: IRS Lost Electronic Return?

This doesn't directly answer your issue, but it's related. I have started to be sure that my electronically submitted tax returns have a transaction. Either a refund or a balance due, that gets debited or credited to my checking account. I used to apply refunds to the next year but no longer do that...
by Leesbro63
Sun Apr 20, 2014 8:00 am
 
Forum: Personal Finance (Not Investing)
Topic: IRS Lost Electronic Return?
Replies: 10
Views: 635

Re: Hyundai Equus vs Lexus LS460

Unless you plan to keep it forever or lease, don't even think about the Equus. Look at the total cost of ownership over the period that you expect to keep the car. The Lexus might be cheaper. And frankly, hey, it's a Lexus. The other thing is a Hyundai. (Full disclosure, I own two Lexus vehicles inc...
by Leesbro63
Sat Apr 19, 2014 9:31 am
 
Forum: Personal Consumer Issues
Topic: Hyundai Equus vs Lexus LS460
Replies: 2
Views: 457

Book for 20 Year Old Beginner

My son has finally developed an interest in money and investing. He will soon be age 20, a sophomore in college, and is very smart (not bragging...just setting the stage for the question). He asked me what would be the very first "start from here" book to recommend. Truthfully I've been a ...
by Leesbro63
Fri Apr 18, 2014 7:23 pm
 
Forum: Investing - Theory, News & General
Topic: Book for 20 Year Old Beginner
Replies: 16
Views: 1032

Re: High Yield Bonds as an Annuity?

You can also pick high yield stocks that pay the same as an annuity (in some situations). I have a 66 year old friend who went this route. He understands that both the stock prices and the dividend can be subject to risk of going away or diminishing. But he feels that the risk/reward favors that vs ...
by Leesbro63
Tue Apr 15, 2014 7:52 am
 
Forum: Investing - Theory, News & General
Topic: High Yield Bonds as an Annuity?
Replies: 23
Views: 1696

Vanguard Developed Markets Index Fund

So I see that Vanguard merged two funds into what they are now calling the Vanguard Developed Markets Index Fund. I had a big chunk in the Tax-Managed International Fund. Invested about 15 years ago...so my basis very low and potential Capgains tax high. 1. Is the new fund's objective that much diff...
by Leesbro63
Thu Apr 10, 2014 10:38 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard Developed Markets Index Fund
Replies: 4
Views: 345

Re: Two Years Free Toyota Service

My 2014 Corolla uses synthetic oil. So even though they "service" the vehicle 5 times in 2 years, they only change the oil twice, since synthetic has a 10,000 mile life vs 5000 for dino remains. The only "real" thing they do in between the oil changes is to rotate the tires.
by Leesbro63
Sat Apr 05, 2014 7:34 am
 
Forum: Personal Consumer Issues
Topic: Two Years Free Toyota Service
Replies: 8
Views: 753

Re: Liability Matching Portfoloio

As I do with every such thread, I must point out that for large taxable portfolios, which many of us have, even an all TIPS LMP is a leap of taxflation faith. I'm not convinced that a 50/50 portfolio isn't less risky.
by Leesbro63
Fri Apr 04, 2014 4:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Liability Matching Portfoloio
Replies: 15
Views: 874

Re: choosing a market place health insurance plan

I agree with the last post, and for Bogleheads the decision is about math. For many, however, as someone else said here, the choice is between the lowest premium plan or no insurance at all. So what happens is they'll buy the lower priced plan but not have the bucks when the deductible devil shows u...
by Leesbro63
Thu Apr 03, 2014 3:34 pm
 
Forum: Personal Consumer Issues
Topic: choosing a market place health insurance plan
Replies: 15
Views: 851

Re: Revenue Ruling 2014-9 should facilitate Portability

Darn. I thought this would be about spousal estate tax exemption portability
by Leesbro63
Thu Apr 03, 2014 2:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Revenue Ruling 2014-9 should facilitate Portability
Replies: 1
Views: 323

Re: choosing a market place health insurance plan

I have been playing with the HEALTHCARE.COV web site and here is my observation: If you add the total annual cost of the premium, deductible and co-pay (up to the max out of pocket), the big number is very close in all cases. The higher deductible plans cost about 15-20% more, if maxed out, than if ...
by Leesbro63
Thu Apr 03, 2014 1:47 pm
 
Forum: Personal Consumer Issues
Topic: choosing a market place health insurance plan
Replies: 15
Views: 851

Re: GPS with "favor interstates" option?

Google Maps on my iPhone does this well. WAAAY better than the OEM Lexus GPS in my car
by Leesbro63
Thu Apr 03, 2014 9:12 am
 
Forum: Personal Consumer Issues
Topic: GPS with "favor interstates" option?
Replies: 37
Views: 1343

Re: What tax forms to store "7 years"

FrugalInvestor wrote:
margered wrote:I don't want to comment about scanning...


I will. Just make sure you don't end up trying to stuff a floppy disk into a USB port. Paper is universal.


Not in a fire or flood. A scanned set of tax documents with a backup or two offsite is more universal.
by Leesbro63
Wed Apr 02, 2014 2:53 am
 
Forum: Personal Finance (Not Investing)
Topic: What tax forms to store "7 years"
Replies: 11
Views: 989

Re: Is The US Stock Market Rigged? ~ 60 Minutes March 30, 20

Marc Cuban is an entrepreneur. He think's buy and hold is for fools. Certainly what he does works well for him. Just as what Warren Buffett does works well for him. But both of their methods don't really translate well for the average guy, let alone the average Boglehead.
by Leesbro63
Mon Mar 31, 2014 12:56 pm
 
Forum: Investing - Theory, News & General
Topic: 60 Minutes 3-30-14: Michael Lewis book "Flash Boys"
Replies: 70
Views: 2538

Re: Really confused by Bernstein

That being said, I also agree that someone who retired in 2007 would have been foolish to take 4% plus inflation in the few years following that. Actually that isn't known at all depending on what happens for the next 23 years and more. 2008-2009 was a crash with a rapid recovery such that taking w...
by Leesbro63
Mon Mar 31, 2014 4:51 am
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903

The Coming Financial Crisis-Another Guru Has Spoken

I like to find out about these gurus who predict doom. What is the scoop on "Al Lewis"? (Wasn't he grandpa Munster?) http://online.wsj.com/news/articles/SB10001424052702303325204579465610191507216 "I''ve been predicting the next financial crash ever since the last one. It isn't easy f...
by Leesbro63
Sun Mar 30, 2014 9:48 pm
 
Forum: Investing - Theory, News & General
Topic: The Coming Financial Crisis-Another Guru Has Spoken
Replies: 5
Views: 1058

Re: Really confused by Bernstein

The fact is, 4% is not really 4%. It is taking a snapshot and fixing a dollar amount of 1/25 of your portfolio on some particular day, then taking that dollar amount (adjusted for inflation) annually until disaster does or does not befall you. Saying "4%" is much too benign. L. This is wh...
by Leesbro63
Sun Mar 30, 2014 9:43 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903

Re: Really confused by Bernstein

You may be right, and 4% may not hold up going forward... But I want to point out that 4% covers the WORST CASE SCENERIOS from the past... Great Depression... Horrible bond market/stock market stagnant/high inflation of the 60s-70s... And still 4% worked. During the GOOD times, people could easily ...
by Leesbro63
Sun Mar 30, 2014 9:42 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903

Re: "Spinning Off" my 20 Year Old Son

My view is that we live in such a rich child centric society that to give children a $ 200,000 college education seems to become a right and not a treat if you can afford it. If you put your own retirement at risk by not saving enough, you put your children at risk for having to provide for your ol...
by Leesbro63
Sat Mar 29, 2014 5:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: "Spinning Off" my 20 Year Old Son

I have heard that if your 20-something child is living with you and causes a car crash, you are still liable, even if the car and the insurance is in his name. Possibly the story wasn't relayed to me correctly, but was what an insurance agent told my brother. I suggest you verify if you are liable ...
by Leesbro63
Sat Mar 29, 2014 7:22 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Do you have hardwood or tile in your kitchen?

We have tile and dislike it very much. The tiles sometimes crack and the floor is cold. And it's a pain in the butt to clean due to the uneven surface of the grout. If I had to do it all over again I'd do wood. At least with wood you can get it refinished every so many years without too much cost.
by Leesbro63
Sat Mar 29, 2014 7:20 am
 
Forum: Personal Consumer Issues
Topic: Do you have hardwood or tile in your kitchen?
Replies: 57
Views: 3120

Re: Were These Investment Advisors Lying or Incompetent?

Something to think about: My rule for serving on committees/boards is that if I don't have control, but still have the responsibility, I don't serve. I get it that boards run by majority vote. I can live with a board that wants to put hardwood floors in the lobby when I want carpet. I cannot, howeve...
by Leesbro63
Fri Mar 28, 2014 5:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 90
Views: 5899

Re: William Bernstein-When you've won the game, why keep pla

Now I better understand why I have a problem with this LMP line of thinking. I am 52, I plan to early retire soon, and well, my wife and myself could easily go past our 90s. This is a 40+ years span. Plus we'd be glad to leave a significant bequest to our 3 children. LMP techniques do not seem quit...
by Leesbro63
Fri Mar 28, 2014 5:14 pm
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 25068

Re: "Spinning Off" my 20 Year Old Son

Holy cow, I was fighting wars on foreign soil when I was 18 and earning my own way. Who are these 20 year old college freshman and where do I sign up? :D Wait, 20 year old freshman? My son started high school this year as a 13 year old freshman. Actually he is a 19 year old freshman now and will be...
by Leesbro63
Fri Mar 28, 2014 1:15 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Really confused by Bernstein

I think that this is what the OP (any myself) find disturbing. It's sort of a circular logic, catch 22 rule of investing. After reading hundreds of posts, this is the first thread where I'm starting to see shades of haves vs have nots. ie. "I've got enough to buy a SPIA to match my needs plus ...
by Leesbro63
Thu Mar 27, 2014 7:24 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903

Re: Bernstein on TIPS ladder vs TIPS fund

This interview is from 2011. I think all the gurus have modified their thinking, at least a bit, in light of negative TIPS yields.
by Leesbro63
Thu Mar 27, 2014 4:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bernstein on TIPS ladder vs TIPS fund
Replies: 25
Views: 2150

Re: "Spinning Off" my 20 Year Old Son

BTW, I agree with the comments on having the car/insurance in the son's name. That's a great liability in todays "sue crazy" world. You could loose everything just because your son had a lapse in judgement. We did the same for our son when he turned 18. - Ron My agent gave me good, I thin...
by Leesbro63
Thu Mar 27, 2014 12:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Really confused by Bernstein

Also there is a huge difference between beginning your 30 year SWR period at age 70 versus, say, age 62. The odds of outliving your 4% plus inflation SWR are greatly reduced if you can wait that 8 years before starting.
by Leesbro63
Thu Mar 27, 2014 12:33 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903

Re: choosing a market place health insurance plan

And how much can you put into a deductible HSA if you qualify?
by Leesbro63
Thu Mar 27, 2014 11:14 am
 
Forum: Personal Consumer Issues
Topic: choosing a market place health insurance plan
Replies: 15
Views: 851

Re: Were These Investment Advisors Lying or Incompetent?

Be glad they are not accepting you as an expert. Because during the next stock downturn you would have been demonized.

Be careful for what you wish
by Leesbro63
Thu Mar 27, 2014 11:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 90
Views: 5899

Re: choosing a market place health insurance plan

What about for an early retiree with no EARNED income (but with a lot of investment income)? Are HSA contributions tax deductible for that person if he does a high deductible plan?
by Leesbro63
Thu Mar 27, 2014 10:22 am
 
Forum: Personal Consumer Issues
Topic: choosing a market place health insurance plan
Replies: 15
Views: 851

Re: Were These Investment Advisors Lying or Incompetent?

There is another issue here. I have been on more than a few boards like this. In particular, one board had about $1M endowment. Another has a pension fund also worth about $1M. Many of us on both boards feel qualified and able to do this ourselves. But we realized that we need a professional manager...
by Leesbro63
Wed Mar 26, 2014 8:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 90
Views: 5899

Re: "Spinning Off" my 20 Year Old Son

If you have a 20 year old, they crash their car, cause a horrible injury and the victim is looking for someone to sue, does declaring you think he was already spun off provide any reduction in liability? You bought the car, you are funding, did fund, his education. Somehow I would be surprised, but...
by Leesbro63
Wed Mar 26, 2014 2:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: "Spinning Off" my 20 Year Old Son

Not sure if financial aid is a consideration, but at 20, he's still going to need your info on the FAFSA in most cases. Just "not taking" him as a dependent means nothing to FAFSA. You may want to look hard at the health insurance part, depending on where you get it. I know there are diff...
by Leesbro63
Wed Mar 26, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: "Spinning Off" my 20 Year Old Son

I think I'm going through the same thing with my 19 year old. They won't listen to mom, or dad, and know everything. He suddenly learned to lie, and be less than honest with me. We're in the process of setting up his own account at Vanguard, and letting him manage his money 100%. He'll be on our he...
by Leesbro63
Wed Mar 26, 2014 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: "Spinning Off" my 20 Year Old Son

Also he has a small amount of investment income. If I don't take him as a dependent, is that income still subject to the "kiddie tax"?
by Leesbro63
Wed Mar 26, 2014 10:25 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: "Spinning Off" my 20 Year Old Son

I guess I didn't make this clear. It's not that I want to disown him. I am thinking about this from a liability perspective mainly. He would get his own car and health insurance. It's something that will happen in 3 years anyway. And if he got into a bind, of course we'd rescue him just as we would ...
by Leesbro63
Wed Mar 26, 2014 10:22 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Cars: Lease vs. buy. (Similar to houses? rent vs. buy?)

In 2006 I purchased a 2005 E-class. Now has over 150K miles. Still a very nice car to drive; has required 3 repairs in almost 9 years, will keep for forseeable future. Recently decided on a small BMW SUV. I made a detailed spreadsheet of lease vs. buy for that car and actual annual costs for my mer...
by Leesbro63
Wed Mar 26, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Cars: Lease vs. buy. (Similar to houses? rent vs. buy?)
Replies: 47
Views: 2935

Re: "Spinning Off" my 20 Year Old Son

livesoft wrote:I think you have to "unfriend" him first. He has probably already done that to you. Other than that, I don't see any other benefits.


No doubt. My kids have me blocked from their Facebook pages. (However there IS a family "snitch" who they forgot to block ;) )
by Leesbro63
Wed Mar 26, 2014 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: "Spinning Off" my 20 Year Old Son

Grt2bOutdoors wrote:Quite possibly fracturing a relationship beyond repair, forever.


I guess I need to retitle as "FINANCIALLY" Spinning off my 20 year old son...
by Leesbro63
Wed Mar 26, 2014 10:00 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

"Spinning Off" my 20 Year Old Son

Here's one I've never seen on here. I am thinking about "spinning off" my 20 year old college Freshman (he'll be 20 soon and will complete his Freshman year...we held him back in Kindergarten). Due to gifting while he was a child, he has enough saved to pay his own way at least until he gr...
by Leesbro63
Wed Mar 26, 2014 9:48 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Car buying experience. Do I have a case to sue the deal

Glad this worked out for you. By the way, buying a new car is no guarantee. Years ago I bought a new car, my first after college, and it kept going into neutral randomly. I must have taken it back to the dealer three or four times, each time they said they'd fixed it and they hadn't. One time it wa...
by Leesbro63
Tue Mar 25, 2014 3:15 pm
 
Forum: Personal Consumer Issues
Topic: Car buying experience. Do I have a case to sue the dealer?
Replies: 40
Views: 4426

Re: William Bernstein-When you've won the game, why keep pla

I would argue that for the large taxable account, there is no way to put 20-25 times spending "at no risk" for 20-25 years.
by Leesbro63
Tue Mar 25, 2014 9:23 am
 
Forum: Investing - Theory, News & General
Topic: William Bernstein-When you've won the game, why keep playing
Replies: 241
Views: 25068

Re: Advice on Parent Entering Assisted Living

Actually Medicare spends megabucks on hospice care, helping our seniors check out with dignity, about $4500 per month per senior on the program I believe. It's the point BEFORE they approach check out on hospice that is at issue.
by Leesbro63
Tue Mar 25, 2014 9:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Advice on Parent Entering Assisted Living
Replies: 25
Views: 2060

Re: Keep/Backup Health Care Records?

...There is a lot of rubbish in medical records... When my doc moved, after 15 years, I asked his old offices to send me "my records..." and a box came by UPS containing a stack of paper 1-9/16" thick. I think it is literally a ream, but I am not going to count the pages. They did no...
by Leesbro63
Tue Mar 25, 2014 3:44 am
 
Forum: Personal Consumer Issues
Topic: Keep/Backup Health Care Records?
Replies: 12
Views: 696

Re: Car buying experience. Do I have a case to sue the deal

ClevrChico wrote:Glad this worked out okay! Have you considered buying a reasonable new car and driving it a long time? I went this route after a lot of used cars with issues. In the long run, it doesn't cost any more. :-)


+10
by Leesbro63
Tue Mar 25, 2014 3:34 am
 
Forum: Personal Consumer Issues
Topic: Car buying experience. Do I have a case to sue the dealer?
Replies: 40
Views: 4426

Re: Really confused by Bernstein

I am a fan of Bernstein and do not doubt his conclusions. But I'm starting to see that maybe the bigger conclusion is that, for the average or even somewhat above average American, the dream of an affluent retirement similar to that of our parents may be slipping away. Many may conclude it's not wor...
by Leesbro63
Tue Mar 25, 2014 3:30 am
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903

Re: Really confused by Bernstein

There is lots of fear. Perhaps because there is lots of uncertainty. In a prior era, you knew you'd PROBABLY die in your 60s. And if you were one of those who survived, you would end up in the grandkid's old bedroom at your oldest daughter's house. And you'd be content to spend your days watching bl...
by Leesbro63
Mon Mar 24, 2014 3:37 pm
 
Forum: Investing - Theory, News & General
Topic: Really confused by Bernstein
Replies: 168
Views: 12903
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