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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: 1873

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: 119
Views: 6425

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: 3740

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: 3740

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: 1873

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: 827

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: 1141

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: 4177

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: 8769

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: 2157

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: 941

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: 941

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: 1646

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: 559

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: 559

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: 6172

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: 6172

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: 1121

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: 3590

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: 4513

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: 1173

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: 2962

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: 6819

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: 8460

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: 5593

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: 5593

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: 3759

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: 447

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: 103
Views: 17359

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: 13049

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: 4309

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: 2253

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: 262
Views: 28789

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: 1171

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: 3914

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: 3914

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: 5562

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: 4194

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: 2795

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: 2350

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: 6486

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: 2978

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: 809

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: 4154

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: 809

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: 4079

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: 553

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: 254
Views: 31155

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: 3467
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