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Re: What experts say about $5,000 watches

Me, I have one of them Swiss Army watches to match my Swiss Army knife. Trouble is, once I retired the Swiss Army watch and the Swiss Army knife kinda sit there on my dresser lookin' fairly lonely. Well, wait. I take that back. In a pinch, I use the Swiss Army knife to open up a bottle of wine when ...
by Levett
Mon Jan 26, 2015 7:40 am
 
Forum: Personal Consumer Issues
Topic: Best watch for around $5,000?
Replies: 906
Views: 173376

Re: WHAT EXPERTS SAY

Happy Birthday, Taylor.

Lev
by Levett
Sun Jan 25, 2015 3:13 pm
 
Forum: Investing - Theory, News & General
Topic: What Experts Say [about various investing topics]
Replies: 50
Views: 3009

Re: Efficient markets: luck v. skill

" to meet my future financial needs, and within reason wants, without taking undue risk." Precisely. I've been investing since 1968, and have been retired for 15 yrs (almost). And I've met my objectives (with room to spare) by using what Milevsky calls "product allocation." And s...
by Levett
Fri Jan 23, 2015 5:11 pm
 
Forum: Investing - Theory, News & General
Topic: Efficient markets: luck v. skill
Replies: 37
Views: 2448

Re: The "Less Than" a Million $ Club

Here's the most recent analysis I've been able to find of Vanguard's review of its own 401-K accounts:

https://personal.vanguard.com/us/insights/article/401k-balances-062014

Draw your own conclusions. :wink:

Lev
by Levett
Tue Jan 20, 2015 7:45 am
 
Forum: Personal Consumer Issues
Topic: The "Less Than" a Million $ Club
Replies: 71
Views: 10261

Re: Get ready for lower SWR

Here's the most recent (I think) analysis by the CDC.

http://www.cdc.gov/nchs/data/databriefs/db168.htm

Lev
by Levett
Tue Jan 13, 2015 7:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Get ready for lower SWR
Replies: 13
Views: 2074

Re: Parking in Philly?

Study all parking signs carefully. Philly is a parking TRAP.

Lev
by Levett
Mon Jan 12, 2015 8:03 pm
 
Forum: Personal Consumer Issues
Topic: Parking in Philly?
Replies: 2
Views: 397

Re: At Vanguard Active beats Passive

It is, indeed, a strange piece of fluff. (I say this as one who invests in both so-called "active" and "passive.) Three whole years the article says! Amazing. :wink: In my investment lifetime (using the article's measure) I have had 15 3-year investment periods. Gotta go see how I did...
by Levett
Fri Jan 09, 2015 4:57 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard's stockpickers outperform.... [news article]
Replies: 61
Views: 3595

Re: "Vanguard Group execs say deflation a real risk..."

But surely you will admit that Kocherlakota is a noble name. Seriously.

Lev
by Levett
Fri Jan 09, 2015 12:41 pm
 
Forum: Investing - Theory, News & General
Topic: "Vanguard Group execs say deflation a real risk..."
Replies: 61
Views: 6232

Re: "Vanguard Group execs say deflation a real risk..."

Stepping off the curb is also a "real risk."

Look both ways! :wink:

Lev
by Levett
Fri Jan 09, 2015 12:05 pm
 
Forum: Investing - Theory, News & General
Topic: "Vanguard Group execs say deflation a real risk..."
Replies: 61
Views: 6232

Re: Any art "investors" here?

Two things.

1. Lisbon is a wonderful city. Hope to be back in September.

2. Buy, buy, buy!

Bye. :wink:

Lev
by Levett
Thu Jan 08, 2015 1:54 pm
 
Forum: Personal Consumer Issues
Topic: Any art "investors" here?
Replies: 69
Views: 5820

Re: Any art "investors" here?

Here's a true story, Petro (and all credit goes to the missus long before I met her). She began her career in Philly. She and her friends heard about a gent who made beautiful reasonably-priced furniture and, best of all, you could pick your own wood and he would provide you with hand-written design...
by Levett
Thu Jan 08, 2015 12:45 pm
 
Forum: Personal Consumer Issues
Topic: Any art "investors" here?
Replies: 69
Views: 5820

Re: Good day to buy! (Or not!)

"It could be good day to sell for retirees who need their yearly cash for expenses."

Gosh, I hope no retiree in such a situation. That's not my idea of a "plan."

For me (as I retiree), it's a great day to do nothing. 8-)

Lev
by Levett
Tue Jan 06, 2015 12:30 pm
 
Forum: Investing - Theory, News & General
Topic: Good day to buy! (Or not!)
Replies: 25
Views: 2579

Re: "The Most Successful Investors Leave Their Money Alone"

"I guess I'd improve my investment returns by not buying any more personal finance books."

Ain't that the truth!

Lev
by Levett
Mon Jan 05, 2015 6:27 am
 
Forum: Investing - Theory, News & General
Topic: "The Most Successful Investors Leave Their Money Alone"
Replies: 30
Views: 5331

Re: Yet another study on why not to buy long term care insur

Sorry. I find the title of the post bizarre at best. 19% of men and 31% of women is a huge number of human beings. I also find it interesting that if one checks the "study's" bibliography it in no way challenges the comprehensiveness of the following detailed study: http://www.allhealth.or...
by Levett
Sun Jan 04, 2015 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Yet another study on why not to buy long term care insurance
Replies: 61
Views: 4482

Re: Jason Zweig: Lessons learned from the year of surprise

"Some of us were smart enough to know what we don't know."

This has always struck me as the right place both to begin and end.

However, it does strike me that it's more ignorant not to invest than to invest.

The trick is to invest within one's comfort zone.

Lev
by Levett
Tue Dec 30, 2014 4:56 pm
 
Forum: Investing - Theory, News & General
Topic: Jason Zweig: Lessons learned from the year of surprise
Replies: 18
Views: 3512

Re: What would you have done differently when retiring?

Raybo,

You nailed it and in the most succinct fashion.

I'm into year 15 of retirement, and the only thing I regret are the memorial services for friends and colleagues.

Lev
by Levett
Mon Dec 29, 2014 6:04 am
 
Forum: Personal Finance (Not Investing)
Topic: What would you have done differently when retiring?
Replies: 107
Views: 10673

Re: Bondpocolyse Question - Am I looking at this wrong?

" I for one am very weary of bonds at these current levels."

Apocalyptic speculations tend to cluster at the end of the year.

Be wary and weary. :wink:

I'm more focused on which wine I should serve first on New Year's Eve. :D

Happy New Year.

Lev
by Levett
Sun Dec 28, 2014 3:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bondpocolyse Question - Am I looking at this wrong?
Replies: 41
Views: 2967

Re: Market Up but Wellington way down??? Why???

What John Bogle said about Wellington in this weekend's Wall Street Journal : " I’ve been investing in the Wellington Fund since July 1951, when I went to work at Wellington Management and 15% of my pay, or $37.50, went into it every month as part of the firm’s retirement plan. Then, in the lat...
by Levett
Sun Dec 28, 2014 7:40 am
 
Forum: Investing - Theory, News & General
Topic: Market Up but Wellington way down??? Why???
Replies: 23
Views: 3442

Re: VWINX or 3 fund portfolio

"I feel like I'm in the minority sometimes regarding mixing active and passive" Perhaps you are, Donald. So am I. But it's not about what others say or do. It's about what's best for you, and what independent conclusions you have arrived at after careful examination. Own your own decision...
by Levett
Thu Dec 25, 2014 9:20 am
 
Forum: Investing - Help with Personal Investments
Topic: VWINX or 3 fund portfolio
Replies: 10
Views: 1838

Re: VWELX - no capital gain dividends this year end?

Sure there are. The fund's declaration date is today.

Wellington™ Fund Admiral VWENX 12/24/2014 60% $0.36 $0.32 $2.25 $2.57 3.63%

Wellington Fund Investor VWELX 12/24/2014 60% $0.20 $0.18 $1.30 $1.48 3.61%

Lev
by Levett
Wed Dec 24, 2014 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: VWELX - no capital gain dividends this year end?
Replies: 2
Views: 512

Re: Using balanced funds to avoid rebalancing

" So while I applaud the post by nisiprius and the clever data mining" That's what's I call a not-so-clever backhanded "compliment." :annoyed I share the view of those who find Nisi's post (as with so many other posts he makes) highly instructive. Nisi is very adept at working a ...
by Levett
Mon Dec 22, 2014 7:59 am
 
Forum: Investing - Theory, News & General
Topic: Using balanced funds to avoid rebalancing
Replies: 30
Views: 2514

Re: What makes you happy in life?

sschullo:

Right on! :thumbsup

Lev
by Levett
Sun Dec 21, 2014 11:57 am
 
Forum: Personal Consumer Issues
Topic: What makes you happy in life?
Replies: 29
Views: 2299

Re: How do you define "being rich"?

Ever seen the movie, Being John Malkovich?

If your name is Rich just make a movie about yourself and call it Being Rich.

Who can doubt you?

Glad to be helpful. :wink:

Lev
by Levett
Sat Dec 20, 2014 3:38 pm
 
Forum: Personal Consumer Issues
Topic: How do you define "being rich"?
Replies: 127
Views: 9472

Re: VWINX declining, any ideas why?

dan,

You may be interested to know that Vanguard, itself, considers Wellesley a "select" fund.

Have a look.

https://investor.vanguard.com/mutual-funds/select-funds

Invest for the long haul.

Lev
by Levett
Fri Dec 19, 2014 7:32 am
 
Forum: Investing - Help with Personal Investments
Topic: VWINX declining, any ideas why?
Replies: 42
Views: 3912

Re: VWINX declining, any ideas why?

Thanks to Nisiprius, especially, for taking the high (instructive) road for a newbie.

Lev
by Levett
Fri Dec 19, 2014 7:02 am
 
Forum: Investing - Help with Personal Investments
Topic: VWINX declining, any ideas why?
Replies: 42
Views: 3912

Re: Long term care insurance?

Scott: You have a genuine ability to cut to the chase--e.g., "The whole debate about self-insure or buy LTCi is a little odd, IMO. I am perfectly capable of running the numbers and determining cost/benefit, and only I can determine what my tolerance for risk is, and how much risk I feel exposed...
by Levett
Tue Dec 16, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance?
Replies: 23
Views: 1992

Re: 403b providers (NOT portfolio advice)

It's not even a close call.

Among the providers listed, TIAA is the least expensive and the most experienced.

Lev
by Levett
Thu Dec 11, 2014 2:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b providers (NOT portfolio advice)
Replies: 10
Views: 851

Re: Are you a Morning Person?

I make no claim to being "a smart investing individual," but I can certainly speak as to why I was and remain an early morning person even now as a retiree: the cat made me do it ! He liked an early morning feed so he could go out and express his cat-like nature. Then I discovered that wat...
by Levett
Thu Dec 11, 2014 10:30 am
 
Forum: Personal Consumer Issues
Topic: Are you a Morning Person?
Replies: 15
Views: 1185

Re: 'Might Vanguard Founder Jack Bogle Be Wrong for a Change

It is fantasy football.

JB has expressed his views. Others have theirs.

Do your own thing and own the consequences, just as JB has done.

This right/wrong stuff is infantile.

Lev
by Levett
Wed Dec 10, 2014 7:52 pm
 
Forum: Investing - Theory, News & General
Topic: 'Might Jack Bogle Be Wrong for a Change?' [Int'l holdings]
Replies: 49
Views: 4324

Re: What is your opinion about "tilting?"

Morningstar describes my (unannuitized) portfolio thusly: "Your portfolio is moderately risky. Financial planners typically recommend this type of portfolio for investors who have three- to 10-year investment horizons and who are concerned by volatility but not preoccupied by it. Such portfolio...
by Levett
Wed Dec 10, 2014 6:40 am
 
Forum: Investing - Theory, News & General
Topic: What is your opinion about "tilting?"
Replies: 116
Views: 9374

Re: Bogle on the past and future of investing

It's pretty clear that John Bogle is not singing from the same hymn book as Vanguard--e.g., " But I'm never certain that I'm right. How could I be sure of that? But I don't invest internationally myself. And I would say if you're going to abandon the U.S., you've got currency risk and you've go...
by Levett
Tue Dec 09, 2014 7:01 am
 
Forum: Investing - Theory, News & General
Topic: Bogle on the past and future of investing
Replies: 15
Views: 2207

Re: projected income metric for portfolios

As I previously noted, TIAA has been using a version of "projected income" for quite a number of years. I just recently found a copy of TIAAs presentation to the DOL which contrasts rather dramatically with Vanguard's stance. http://www.dol.gov/ebsa/pdf/1210-AB20-00093.pdf I once had a dog...
by Levett
Tue Dec 09, 2014 6:25 am
 
Forum: Investing - Theory, News & General
Topic: projected income metric for portfolios [WSJ article]
Replies: 11
Views: 1051

Re: projected income metric for portfolios

A version of "projected income" has been used by TIAA-CREF for umpteen years (that's a long time :wink: ).

Glad to see the smart guys are catching up!

Lev
by Levett
Mon Dec 08, 2014 4:22 pm
 
Forum: Investing - Theory, News & General
Topic: projected income metric for portfolios [WSJ article]
Replies: 11
Views: 1051

Re: Retirement Planning: The View from Vanguard

Thanks, Bob.

Mr Utkus says: " Imagine a universal app—Vanguard Money—that actually shows your financial life."

I says: Likely won't have to "imagine" for very long! :wink:

Lev
by Levett
Sun Dec 07, 2014 11:24 am
 
Forum: Investing - Theory, News & General
Topic: Retirement Planning: The View from Vanguard
Replies: 8
Views: 1670

Re: Reverse Mortgages

My thanks, as well, to skepticalobserver.

Lev
by Levett
Sat Dec 06, 2014 1:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reverse Mortgages
Replies: 7
Views: 569

Re: Reverse Mortgages

The article to which the OP refers contains the following sentence:

"Reverse mortgages are nonrecourse loans, which means that if the house does sell for less, an heir is never responsible for the difference."

Lev
by Levett
Sat Dec 06, 2014 12:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reverse Mortgages
Replies: 7
Views: 569

Re: Ken Fisher - Why I hate annuities

No. The link cited focuses on the TIAA Traditional Account + the CREF VA accounts. Times have changed, TIAA choices have increased, but I have yet to see compelling evidence that increasing TIAA choices has led to demonstrably better results. I'm always open to evidence that demonstrates the contrar...
by Levett
Thu Dec 04, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: Ken Fisher - Why I hate annuities
Replies: 69
Views: 6303

Re: Ken Fisher - Why I hate annuities

What has been a "solid product?"

This has (and continues to be).

http://tinyurl.com/lhezkxc

I'll take TIAA over Ken Fisher any day of the week.

Lev

P.S. I have yet to meet a TIAA retiree who feeds on Alpo.
by Levett
Thu Dec 04, 2014 6:34 am
 
Forum: Investing - Theory, News & General
Topic: Ken Fisher - Why I hate annuities
Replies: 69
Views: 6303

Re: 75 year old assistance

Kracower wrote: "Finally my conservatism stems from the fact that the longer I go without any substantial risk and the older I become, the less my appetite is for taking any risk." I think you have pretty much answered your own question: if your current plan ain't broke, nothin' needs fixi...
by Levett
Mon Nov 24, 2014 9:34 am
 
Forum: Investing - Help with Personal Investments
Topic: 75 year old assistance
Replies: 14
Views: 1156

Re: Jim Cramer dad & LTCI

I have seen LTCI repeatedly in play in my community among friends and acquaintances (sadly), and I have yet to observe or hear of a vendor who did not pay as promised according to the provisions of the policy. But let's say you are skeptical, but nevertheless willing to assess the evidence. Here is ...
by Levett
Sat Nov 22, 2014 9:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Jim Cramer Dad & LTCI
Replies: 30
Views: 3803

Re: Rick Ferri 60/40 portfolio

Rick, it is truly refreshing to hear from a well regarded adviser and author in the field that people do not need to agonize over all the over-engineering of portfolios that is presented in too many places


:thumbsup

Lev
by Levett
Fri Nov 21, 2014 5:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rick Ferri 60/40 portfolio
Replies: 18
Views: 4843

Re: 3 Fund Portfolio vs. VWINX

VWINX as a "bubble" fund is hilarious!

That's like likening a slug to Seabiscuit. :D

Love it.

Levett
by Levett
Fri Nov 21, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: 3 Fund Portfolio vs. VWINX
Replies: 10
Views: 1278

Re: Retirees' Regrets

No regrets. A lot of gratitude.

I agree that one should "front load," if possible.

One sudden serious injury or illness or death of a loved one and the nature of "retirement" can completely change.

Lev
by Levett
Fri Nov 21, 2014 12:31 pm
 
Forum: Personal Consumer Issues
Topic: Retirees' Regrets
Replies: 23
Views: 3128

Re: Vacation in France

Just do it!

You'll know why the instant you arrive.

The question is: will you come back? :wink:

Lev
by Levett
Tue Nov 18, 2014 4:28 pm
 
Forum: Personal Consumer Issues
Topic: Vacation in France
Replies: 96
Views: 11113

Re: Active or Not, I Love Wellington

tibbitts observed: "But it's true that when you get to a point of having relatively few years left to invest, what you do (within reason) probably won't matter very much, since small differences won't have much time to compound. " This grandpa agrees. Thank you for stating where I'm at so ...
by Levett
Tue Nov 18, 2014 7:13 am
 
Forum: Investing - Theory, News & General
Topic: Active or Not, I Love Wellington
Replies: 82
Views: 9226

Re: VWINX (Wellesley Inc.)

tbradnc wrote: "After some particularly bad investment advice from a friend my mother finally decided to split her retirement nest egg equally between Wellesley and Target Retirement Income. Every January she rebalances back to 50/50. I don't spy on her retirement account but the few times I've...
by Levett
Tue Nov 18, 2014 7:04 am
 
Forum: Investing - Theory, News & General
Topic: VWINX (Wellesley Inc.)
Replies: 44
Views: 6744

Re: VWINX (Wellesley Inc.)

" Assuming a 3% drawdown for retirement income, I would think the principal should last my lifetime (age 63) ." Well,the new Society of Actuaries Mortality tables suggest that a person your age (roughly 65), on average, will live to age 86.6. So, if you intend to hold Wellesley for 20 year...
by Levett
Mon Nov 17, 2014 6:51 am
 
Forum: Investing - Theory, News & General
Topic: VWINX (Wellesley Inc.)
Replies: 44
Views: 6744

Re: Explaining muni bond spreads

It's one thing to link to an article. It's quite another to start hyping one's company.

"Please do not solicit business or website traffic on this forum." (quoting from a forum rule)

It's for the mods to determine solicitation.

Lev
by Levett
Thu Nov 13, 2014 7:41 pm
 
Forum: Investing - Theory, News & General
Topic: Explaining muni bond spreads
Replies: 40
Views: 4249
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