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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: 1060

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: 3370

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: 4289

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: 1090

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: 2846

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: 4999

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: 53
Views: 5079

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: 4926

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: 4926

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: 3495

Re: "Performance report: Vanguard funds shined versus peers.

Here's the valuable take away: "I think what happens is a lot of people experience a different risk tolerance in the heat of the moment than they may when they start their asset allocation process," said Fran Kinniry of Vanguard Investment Strategy Group. "And what I mean is that you ...
by Levett
Thu Nov 13, 2014 7:28 pm
 
Forum: Investing - Theory, News & General
Topic: "Performance report: Vanguard funds shined versus peers."
Replies: 1
Views: 435

Re: Bogleheads, tell me about your 40's?

What was my major take away from my 40s? That human life is exceedingly fragile.

Recommendation: pay far more attention to your family than to your portfolio for the remainder of your life.

Happy trails.

Lev
by Levett
Thu Nov 13, 2014 4:28 pm
 
Forum: Personal Consumer Issues
Topic: Bogleheads, tell me about your 40's?
Replies: 101
Views: 13270

Re: Vanguard launches new offering ...

Four "retiree in training" t-shirts for the gym and a Vanguard cap for my balding head.

$40 bucks (free shipping).

A win, win. 8-)

Lev
by Levett
Thu Nov 13, 2014 2:49 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard launches new offering ... [Vanguard merchandise]
Replies: 115
Views: 11166

Re: Obligation to Parents?

Well, I am certainly pleased to see that at least one poster actually used a version of the word "love" (which does not preclude other terms like "responsibility" and "obligation").

Lev
by Levett
Thu Nov 13, 2014 10:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Obligation to Parents?
Replies: 77
Views: 3701

Re: Assisted Living

First, I agree with gatorking's recommendation of Atul Gawande's Being Mortal . Second, I was pleased to see Stephen Utkus (of Vanguard) comment in detail on the challenges we face as we age and become frail. The interview is posted at Vanguard. http://www.morningstar.com/cover/videocenter.aspx?id=6...
by Levett
Tue Nov 11, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Assisted Living
Replies: 24
Views: 1968

Re: What Movie Have You Recently Watched?

Nightcrawler. Creepy. Almost Faustian in its bargains with the devilish.

Not family entertainment. :wink:

Wonderful performance by Jake Gyllenhaal.

Lev
by Levett
Sun Nov 09, 2014 7:25 am
 
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 222
Views: 18253

Re: Questions about TIAA-CREF account

With respect, why are you reading the Wiki and not, instead, talking to TIAA (assuming you have the right to do so)? And I am puzzled by the following: "The allocation has been in place for about 40 years and has never been changed ." Clearly, the account values have changed, so are you sa...
by Levett
Thu Nov 06, 2014 4:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: Questions about TIAA-CREF account
Replies: 14
Views: 1150

Re: Christine Benz Interviews Bill Bernstein

" The employer 10% goes into a 401(a), the employee 5% goes into a 403(b), and elective deferrals go into a separate 403(b). " I know the system well, as a retired academic. And in my university community, I have yet to meet a retired academic who isn't pleased with how the retirement prog...
by Levett
Wed Nov 05, 2014 5:59 am
 
Forum: Investing - Theory, News & General
Topic: Christine Benz Interviews Bill Bernstein
Replies: 33
Views: 3858

Re: Christine Benz Interviews Bill Bernstein

There's more posted at Morningstar--this time Bill Bernstein on the "retirement crisis." A sample of his comments: "I think what we have to do is to try to put Humpty Dumpty back together again. The Humpty Dumpty in this case being the old DB system, which very few people have anymore...
by Levett
Tue Nov 04, 2014 10:26 am
 
Forum: Investing - Theory, News & General
Topic: Christine Benz Interviews Bill Bernstein
Replies: 33
Views: 3858

Re: 2015 Suburu Outback

December 2014 Consumer Reports "Road Report," page 65: "Subaru Outback is Back--and Better Than Ever."

Need I say--an extremely favorable review!

Lev
by Levett
Mon Nov 03, 2014 2:28 pm
 
Forum: Personal Consumer Issues
Topic: 2015 Suburu Outback
Replies: 52
Views: 5300

Re: My favorite Vanguard balanced fund

As I recall, Mr. Bogle is rather fond of the Vanguard Balanced fund, but it should be noted that it is, on the equity side, strictly domestic.

It does hold a small amount of foreign bonds.

Lev
by Levett
Fri Oct 31, 2014 5:57 pm
 
Forum: Investing - Theory, News & General
Topic: My favorite Vanguard balanced fund
Replies: 20
Views: 4170

Re: Individual investors behaving badly

"I'm sure no Boglehead engages in such behavior"

This must be what's called irony.

Unless, of course, all Bogleheads are above average. :wink:

Lev
by Levett
Thu Oct 30, 2014 11:23 am
 
Forum: Investing - Theory, News & General
Topic: Individual investors behaving badly
Replies: 18
Views: 2778

Re: AA canceled flight: premium seat fee not refunded

Grok,

That's why the missus and I stopped flying American to DFW where we have grandchildren.

The customer service has simply fallen off as repeated customer surveys show.

We regret it. We enjoyed our Advantage perks in the past.

Lev
by Levett
Wed Oct 29, 2014 12:49 pm
 
Forum: Personal Consumer Issues
Topic: canceled flight on AA: premium seat fee not refunded
Replies: 30
Views: 2319

Re: Anyone cancelling travel plans?

Leaving for Dallas tomorrow a.m.

Driving to the airport may be the biggest risk. :wink:

Enjoy your trip.

Lev
by Levett
Sat Oct 18, 2014 11:55 am
 
Forum: Personal Consumer Issues
Topic: Anyone cancelling travel plans?
Replies: 117
Views: 6428

Re: Why do people use age instead of life expectancy?

Important point, in my view.

Life expectancy (for this retiree) drove at least two decisions: purchase of LTCI and annuitization of some income over and above Social Security (I do not capitalize Social Security).

Lev
by Levett
Sat Oct 18, 2014 7:29 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2950

Re: Roll Over Old TIAA CREF Account?

"three per cent and a cloud of dust."

Terrific, brick-house.

For the OPs info (even if it's only 1% of portfolio).

https://www.tiaa-cref.org/public/pdf/pe ... rength.pdf

Don't leave home without it. :wink:

Lev
by Levett
Thu Oct 16, 2014 3:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roll Over Old TIAA CREF Account?
Replies: 15
Views: 793

Re: How did you get from $1M to $10M

How?

I didn't.

It wouldn't make a bit of difference in my life.

Lev
by Levett
Thu Oct 16, 2014 3:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: How did you get from $1M to $10M
Replies: 46
Views: 4127

Re: Roll Over Old TIAA CREF Account?

Completely agree with ourbrooks.

Lev
by Levett
Wed Oct 15, 2014 7:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roll Over Old TIAA CREF Account?
Replies: 15
Views: 793

Re: It's a good day to be heavy in REITs

17%, eh?

REITS, like trees, don't grow to the sky.

Good luck.

Lev
by Levett
Tue Oct 14, 2014 9:50 am
 
Forum: Investing - Theory, News & General
Topic: It's a good day to be heavy in REITs
Replies: 42
Views: 4044

Re: WSJ - Calpers Reboots Its Real-Estate Ambitions

You have an excellent memory, VT.

http://online.wsj.com/articles/SB122947172015212225

Is this the sound of the canary in the coal mine?

Lev
by Levett
Fri Oct 10, 2014 9:53 am
 
Forum: Investing - Theory, News & General
Topic: WSJ - Calpers Reboots Its Real-Estate Ambitions
Replies: 4
Views: 521

Re: What Book Are You Currently Reading? Part VI

Ian McEwan, The Children Act.

McEwan has stripped the bells and whistles from his prose and has produced a truly compelling read.

Lev
by Levett
Fri Oct 10, 2014 5:59 am
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 180
Views: 17194

Re: Are you a "maximizer" or a "satisficer"?

P J Whoopee wrote: "I didn't hit a grand slam. I singled to first, was forced to second, stole third, took a big lead off, and was batted in for the go-ahead run."

In fact, you hit a verbal walk-off home run. :wink:

Lev
by Levett
Tue Oct 07, 2014 10:19 am
 
Forum: Personal Consumer Issues
Topic: Are you a "maximizer" or a "satisficer"?
Replies: 52
Views: 3355

Re: Bonds Beware

" In a bubble, people borrow money to buy and speculate. This is not what is happening in Treasurys. If anyone is borrowing, it is to go "short of" Treasurys ." Oh, dear. http://online.wsj.com/articles/stubbornly-low-bond-yields-and-the-man-who-saw-them-coming-steven-major-141208...
by Levett
Mon Oct 06, 2014 7:23 pm
 
Forum: Investing - Theory, News & General
Topic: Bonds Beware
Replies: 34
Views: 4917

Re: What Movie Have You Recently Watched?

Calvary and The Drop. Liked them both.

Next up: Gone Girl.

Lev
by Levett
Sun Oct 05, 2014 4:39 pm
 
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 222
Views: 18253

Re: Critically Acclaimed Movies you did not like

Memento--handily.

Since it was my idea to see it, I told my friends I'd give them a refund.

They settled for the local watering hole. :sharebeer

Lev
by Levett
Sun Oct 05, 2014 5:21 am
 
Forum: Personal Consumer Issues
Topic: Critically Acclaimed Movies you did not like
Replies: 150
Views: 9600

Re: When life throws curve, live a little or save?

If the new house would provide some peace and joy to your entire family , I would go for the new house. (Life, as you know, is not simply measured in dollars and cents.) On the other hand, would the move into a new house inadvertently add stress? I wish you, your wife, and your daughter long and pro...
by Levett
Sat Oct 04, 2014 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: When life throws curve, live a little or save?
Replies: 19
Views: 2786

Re: Vanguard: "Your Investing Life: Getting remarried."

Much of the article is sensible, but I am surprised so little is said about blending families--whatever the age of the children.

Lev
by Levett
Thu Oct 02, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Your Investing Life: Getting remarried."
Replies: 1
Views: 309

Re: Road Scholar: Your experience?

Road Scholar was once a subset of Elderhostel. Then Elderhostel paid a lot of money to come up with some new cockamamie name that they had to abandon after so much protest. Anyway, it sounds like you are interested in what's called an "active outdoor" program. I've done maybe 15 of these (...
by Levett
Thu Oct 02, 2014 5:57 am
 
Forum: Personal Consumer Issues
Topic: Road Scholar: Your experience?
Replies: 26
Views: 2818

Re: Water Powered Sump-Pump Backups?

Location: Michigan. Water powered backup: yes, absolutely.

You may find this video interesting.

http://www.youtube.com/watch?v=xCUKvwNrdik

Lev
by Levett
Wed Oct 01, 2014 2:45 pm
 
Forum: Personal Consumer Issues
Topic: Water Powered Sump-Pump Backups?
Replies: 19
Views: 1020

Re: Chase Ultimate Rewards Program

" Chase Ultimate Rewards is one of the best programs out there" Man, you got that right. It's breathtaking the deals I've gotten out of the Rewards for hotels, rental cars, and airline tickets through Chase Sapphire Preferred/Ultimate Rewards. And now the insurance coverage has been extend...
by Levett
Sun Sep 28, 2014 5:29 pm
 
Forum: Personal Consumer Issues
Topic: Chase Ultimate Rewards Program
Replies: 27
Views: 12324

Vanguard IRA snapshot

This is from today's VG homepage.

It may be of interest (it is to me).

https://personal.vanguard.com/us/insigh ... ion-092014

Levett 5
by Levett
Thu Sep 11, 2014 11:59 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard IRA snapshot
Replies: 0
Views: 198

Re: Anyone have a house with a pool?

Yes. We have a 42' x 20' in ground pool and live in the upper great lakes. Pool season runs from June through September. I use a professional to open and close (roughly $250 a pop). I follow a three-step process each week: algaecide, shock, clarifier. Say $75 monthly. I vacuum the pool. Large tubs o...
by Levett
Wed Sep 10, 2014 4:28 pm
 
Forum: Personal Consumer Issues
Topic: Anyone have a house with a pool?
Replies: 32
Views: 2479

Re: 2013 Federal Reserve Survey of Consumer Finances release

As students of finance, this is invaluable information for many of us.

Levett 5
by Levett
Wed Sep 10, 2014 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: 2013 Federal Reserve Survey of Consumer Finances released
Replies: 9
Views: 1787

Re: need help choosing options at TIAA-CREF

I believe Larry Swedroe once characterized the TIAA Real Estate Account as roughly half equity/half fixed income. I hope I am not misrepresenting him. It is an "alternative investment," or as Morningstar characterizes it: an "other." It is not, however, "magical." :wink...
by Levett
Tue Sep 09, 2014 10:48 am
 
Forum: Investing - Help with Personal Investments
Topic: need help choosing options at TIAA-CREF
Replies: 34
Views: 1601

Re: Simplicity vs. Complexity

Hi Taylor, You wrote: " because Wall Street's marketing machine keeps churning out ever more options. " It's not just Wall Street that keeps suggesting "ever more options." I see a fair amount at this site, for example. And Vanguard is fairly constantly "improving" the ...
by Levett
Tue Sep 09, 2014 10:31 am
 
Forum: Investing - Theory, News & General
Topic: Simplicity vs. Complexity
Replies: 50
Views: 3446

Re: 2013 Federal Reserve Survey of Consumer Finances release

Hi Bob,

The link makes for some informative but disturbing reading.

Levett 5
by Levett
Tue Sep 09, 2014 6:50 am
 
Forum: Investing - Theory, News & General
Topic: 2013 Federal Reserve Survey of Consumer Finances released
Replies: 9
Views: 1787

Re: The importance of discipline

Hi Browser. You found me (and I found myself a long time ago)--e.g., " Remember, you're working with a moron - yourself! Give the poor fellow a break. .." I have given myself a break. KISS works fine in my world. No doubt, there are many versions of KISS. It's whatever keeps floating our b...
by Levett
Mon Sep 08, 2014 1:04 pm
 
Forum: Investing - Theory, News & General
Topic: The importance of discipline
Replies: 19
Views: 1393

Re: 50-50 Wellesley-Wellington or Total Bond-Total Stock

"Although you see a lot of the 50/50 W/W, it mostly done by investors with little experience. Holding both funds really doesn't make much sense. The two funds are too similar to add much diversification." With respect, you have made quite a number of (understandable, from one point of vie...
by Levett
Sat Sep 06, 2014 4:22 pm
 
Forum: Investing - Theory, News & General
Topic: 50-50 Wellesley-Wellington or Total Bond-Total Stock
Replies: 68
Views: 5516

Re: 50-50 Wellesley-Wellington or Total Bond-Total Stock

The dynamic duo works splendidly in a tax-deferred account. Heresy alert : In a risk portfolio--for the vaguely "risk averse"-- you, uh, "rebalance" between the one and t'other (they are essentially different versions of a similar portfolio) depending on what your lizard brain te...
by Levett
Fri Sep 05, 2014 7:08 pm
 
Forum: Investing - Theory, News & General
Topic: 50-50 Wellesley-Wellington or Total Bond-Total Stock
Replies: 68
Views: 5516
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