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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: 605

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: 64
Views: 5174

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: 10336

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 do you store your photos?
Replies: 26
Views: 2113

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: 4919

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: 2893

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: 4919

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: 3362

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: 3362

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: 3362

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: 1371

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: 4708

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: 1366

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: 1366

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: 2668

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: 2668

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: 2761

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: 4114

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: 2761

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: 1326

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: 11412

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: 6225

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: 863

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: 863

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: 1697

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: 863

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: 2089

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: 2089

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: 2089

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: 12745

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: 22864

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: 22864

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: 6225

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: 6225

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: 12745

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: 1291

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: 1408

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: 1403

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: 1403

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: 1403

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: 1403

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: 1403

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: 1133

Re: Managed Payout Funds

Thank you for this info. Nisiprius, esp thanks for that analysis. It would appear that the straight annuity is the best option for my mom.
by Leesbro63
Mon Mar 02, 2015 11:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Managed Payout Funds
Replies: 6
Views: 357

Managed Payout Funds

I consider myself fairly financially knowledgeable...mostly due to following this bulletin board for years. That being said, I admit that I know little about "managed payout funds" and would like to get a synopsis. For instance, for my aging mother, how would this be better/worse/different...
by Leesbro63
Mon Mar 02, 2015 10:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Managed Payout Funds
Replies: 6
Views: 357

Re: Foodsaver use

We use an attachment for ours along with Ball widemouth jars to prepare soup for freezing. We make large pots of veggie and bean soup and freeze 15 or so jars each time. We also make large pans of lasagna and vacuum seal meals. This works great for a quick diner, throw the frozen pouch in boiling w...
by Leesbro63
Mon Mar 02, 2015 7:13 am
 
Forum: Personal Consumer Issues
Topic: Foodsaver use
Replies: 27
Views: 1620

Re: Dividends and Market Slides

nedsaid wrote:People have to realize that the 2008-2009 financial crisis was a once in a lifetime event


Let's hope
by Leesbro63
Sun Mar 01, 2015 7:41 pm
 
Forum: Investing - Theory, News & General
Topic: Dividends and Market Slides
Replies: 55
Views: 3379

Re: Help with letter from IRS about 2013 529 distribution

I got one of these IRS demands for each of my daughter's four college years. And I always responded in a very minimalist way. I wrote on the IRS notice (sent back to the IRS by Certified Mail): "The 529 Plan withdrawals referenced here were used for qualified education expenses. <Name of My Dau...
by Leesbro63
Sun Mar 01, 2015 7:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with letter from IRS about 2013 529 distribution
Replies: 13
Views: 1133

Re: Foodsaver use

We use an attachment for ours along with Ball widemouth jars to prepare soup for freezing. We make large pots of veggie and bean soup and freeze 15 or so jars each time. We also make large pans of lasagna and vacuum seal meals. This works great for a quick diner, throw the frozen pouch in boiling w...
by Leesbro63
Sun Mar 01, 2015 5:39 pm
 
Forum: Personal Consumer Issues
Topic: Foodsaver use
Replies: 27
Views: 1620
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