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Re: Starting an RIA

My main concern is whether I could make it profitable or not billing at $150/hr. That just seems like a lot of hours to bill to make a living. Depends on your overhead... Even if you only work 13 hours a week, that's $100k a year in gross billing. First, that's a lot of billable hours. Second, 100k...
by MN Finance
Mon Apr 21, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Starting an RIA
Replies: 27
Views: 1581

Re: Need advice on financial planning at age 40

Agreed - focus on retirement savings. As with the old adage - you can take a loan out for school, but not retirement. I love my kids and plan on them going to college, but I won't do so at the expense of sleeping on their couches in retirement. To make 160k turn into 1M you'd need a real return of 8...
by MN Finance
Mon Apr 21, 2014 2:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice on financial planning at age 40
Replies: 16
Views: 2009

Re: Starting an RIA

I missed any reference to individual stocks in the OP, so I assume it was deleted. If that is part of the plan, then clearly that influences any perceived credibility with those on this board. Mind, you not legal standards, just credibility. That said, any implication that individual stocks can't be...
by MN Finance
Mon Apr 21, 2014 2:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Starting an RIA
Replies: 27
Views: 1581

Re: Inherited IRA from Merrill Lynch

The best thing to do is take this one decision at a time. Get the estate settled, meet with Merrill, and only make the changes you need to. Then in a few months, year, sit down and figure out if you want to keep using them (no, of course not) and then spend time designing your own portfolio
by MN Finance
Fri Apr 18, 2014 5:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Inherited IRA from Merrill Lynch
Replies: 8
Views: 849

Re: Draft email to investment advisor re outperforming Total

Well, we have no idea if the money manager has outperformed or underperformed because we don't have any information. That's the point here, we can't comment on some isolated email. The performance might be fine. Tax costs are not the manners issue. Legacy holdings are not the managers issue. Further...
by MN Finance
Fri Apr 18, 2014 4:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Draft email to investment advisor re outperforming Total Mar
Replies: 24
Views: 2400

Re: Draft email to investment advisor re outperforming Total

This whole thing is really silly. You give us zero background and then ask for an assessment of some email to a money manager (not advisor, btw) that you've had for 20yrs. If you're looking for advice you need to outline what is happening, how you're invested, what the money is for, who is managing ...
by MN Finance
Thu Apr 17, 2014 10:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Draft email to investment advisor re outperforming Total Mar
Replies: 24
Views: 2400

Re: Child's Roth

Maybe you guys should stick to allocation advice, which was the question, rather than speculating about how the money got into the Roth. We have Roths for a couple of our kids (ages: greater than 0; less than 10). OP: I used Schwab as a custodian since there were no fees and I like the platform anyw...
by MN Finance
Tue Apr 15, 2014 5:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Roth
Replies: 27
Views: 1403

Re: Interest Rates

I think interest rates probably have to go up
by MN Finance
Tue Apr 15, 2014 2:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Interest Rates
Replies: 4
Views: 516

Re: TIAA-CREF is buying Nuveen?

Just another step in them becoming a blue fidelity. They have plenty of places to spend any "profit" as they roll out offices in every city and hire thousands of advisors paid to sell fee based products. God help the unsuspecting widows who wander into the offices with built up trust from ...
by MN Finance
Mon Apr 14, 2014 6:06 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 2460

Re: My financial advisor doubt

This is a very easy problem to solve. Sit down with your new advisor and discuss your concerns. Any quality advisor is looking for long time clients that are comfortable with the arrangement. He/she has no interest in you coming on board for a short time then leaving, so if that's the likely outcome...
by MN Finance
Sun Apr 13, 2014 6:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: My financial advisor doubt
Replies: 28
Views: 3173

Re: TIAA CREF

Not good choices. The access funds are expensive, so you're left with TIAA Trad and RE. TIAA is a great fixed investment (the best) but you have no liquidity. If it were me I'd determine if you can balance your whole portfolio elsewhere, and see if you can only use this for TIAA and stomach the illi...
by MN Finance
Sat Apr 12, 2014 7:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF
Replies: 50
Views: 3311

Re: Another After-Tax 401k to Roth IRA Question

Rollovers of any type directly to the IRA are only limited by your employers plan and never subject to a penalty. You should search this topic because rollovers of after tax money in a 40X have been discussed at length in some excellent threads.
by MN Finance
Sat Apr 12, 2014 6:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another After-Tax 401k to Roth IRA Question
Replies: 2
Views: 226

Re: skewing to take advantage of capital-loss carryforward?

This really isn't a problem that needs to be solved. Unless you hold these same funds until you die you'll eventually have capital gains which will be offset by the losses. In the mean time you get to write off 3k against your higher ordinary income rate and have a backstop knowing that if you ever ...
by MN Finance
Sat Apr 12, 2014 6:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: skewing to take advantage of capital-loss carryforward?
Replies: 8
Views: 617

Re: Corporate Compliance has a problem with our Vanguard acc

btw - I personally would never take a job that gave over this amount of transparency to a company I work for. Never. I guess that's what makes horse races. My ex-wife wouldn't get an EZpass because she didn't want the government knowing where she was going. My reaction to that was that 1-they proba...
by MN Finance
Fri Apr 11, 2014 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Corporate Compliance has a problem with our Vanguard account
Replies: 29
Views: 2472

Re: Playing Defense

By the way, "how do you position your portfolio for defense" sounds like sales talk to me. Really? With all due respect that is absurd. It is a simple question on how would investors position themselves with an expected downturn in the market. Of course no one has a crystal ball, but if y...
by MN Finance
Fri Apr 11, 2014 8:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Playing Defense [against possible market correction]
Replies: 36
Views: 2949

Re: TIAA CREF

If it's a contract that holds employer contributions like this then 100% of the time it will be a contract type with an illiquid TIAA version (RA/GRA/RC). [Edit, lets.say 99.99% of the time since there's bound to be an exception]
by MN Finance
Thu Apr 10, 2014 2:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA CREF
Replies: 50
Views: 3311

Re: Market falling emotions

At the very worst any conventional portfolio (regardless of risk level) is flat for 2014. At the very best said portfolios could have possibly been up 2 or 3% at some point this year. So I fail to see any material to even discuss. Even the most worrisome investor will not notice a 2% rise or fall w...
by MN Finance
Mon Apr 07, 2014 8:31 pm
 
Forum: Investing - Theory, News & General
Topic: Market falling emotions
Replies: 31
Views: 2177

Re: How to account for an annuity ?

well, now that you've clarified why you want to track it (entertainment value), you can put whatever value in it you want. There were some fringe reasons mentioned that could be very loosely useful, but "how you're doing" and "forgetting about it" probably don't count as useful. ...
by MN Finance
Mon Apr 07, 2014 2:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to account for an annuity ?
Replies: 47
Views: 1920

Re: 403b rollover

If I'm interpreting the events accurately, as things currently stand, your entire 403b was paid out as a taxable distribution. This would satisfy the rmds for all 3 accounts (assuming they're all really 403bs). If this total amount is more than the total rmd, you can then do a 60 day rollover of the...
by MN Finance
Mon Apr 07, 2014 1:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b rollover
Replies: 7
Views: 299

Re: How to account for an annuity ?

Clearly you don't capitalize your pension, SS, annuity payments, or human capital in your net worth. As asked, to what end is this important? The only possible reason would be your allocation, in which case you are now evaluating your risk tolerance of remaining assets in light of a much different n...
by MN Finance
Sat Apr 05, 2014 12:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to account for an annuity ?
Replies: 47
Views: 1920

Re: How are you preparing for the coming bear market

The implication of your "stay the course" line is that someone doing nothing is a lemming plummeting to their death. I'm preparing the same way I'm preparing my home for the coming blizzard, which if you can't compete the analogy on your own, means I'm not living in a house capable of weat...
by MN Finance
Sat Apr 05, 2014 12:33 pm
 
Forum: Investing - Theory, News & General
Topic: How are you preparing for the coming bear market
Replies: 104
Views: 7847

Re: Financial Adviser question

I'm not sure it really matters how they structure their business as it relates to your question. They either work for a company or own a small company that provides investment services. They aren't going to create their own brokerage company, so they contract with a broker to provide services, or th...
by MN Finance
Fri Apr 04, 2014 6:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial Adviser question
Replies: 5
Views: 854

Re: American Funds?

So far the replies have basically missed the point, the decision tree as it were. First, who is going to manage the money, aunt, you, or a "professional". If one of you, then you obviously by default end up with vanguard, fidelity, etc. If a professional, then you have to decide business ...
by MN Finance
Wed Apr 02, 2014 9:31 pm
 
Forum: Investing - Theory, News & General
Topic: American Funds?
Replies: 37
Views: 2870

Re: American Funds?

So far the replies have basically missed the point, the decision tree as it were. First, who is going to manage the money, aunt, you, or a "professional". If one of you, then you obviously by default end up with vanguard, fidelity, etc. If a professional, then you have to decide business m...
by MN Finance
Wed Apr 02, 2014 8:40 pm
 
Forum: Investing - Theory, News & General
Topic: American Funds?
Replies: 37
Views: 2870

Re: Setting up money management practice as part time MD

You need to clarify what the business activities will be in order to determine how you get started. Then it depends on state regulation. If you are giving advice (which I'll call fee only) and getting paid, it differs significantly from managing money on a discretionary basis and taking a percentage...
by MN Finance
Wed Apr 02, 2014 8:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Setting up money management practice as part time MD
Replies: 10
Views: 986

Re: Buying a house with a partner, not married

I am guessing there is information, legal, and financial issues from their failed previous relationships that is postponing their decision to marry, if not then they are just not willing to fully commit. I am assuming they can draw up legal documents to protect their heirs and assets each are bring...
by MN Finance
Sat Mar 29, 2014 1:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1328

Re: Buying a house with a partner, not married

Seems like each should put $50K into the property and finance the rest. That way its a 50/50 split. It doesn't make sense to have each put in only $50k. Then they'd end up financing 800k instead of 400k. Rent for at least a couple of years. A lot of marriages break up in the early years before ther...
by MN Finance
Fri Mar 28, 2014 8:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1328

Re: Buying a house with a partner, not married

I think the partner with the money buying the house in just his/her name is the best option. Someone I know inherited half a mil, put it all into a house with his then-gf, got married a year or so later, and in 5 or so years got divorced. The equity was treated as a joint marital asset, and was div...
by MN Finance
Fri Mar 28, 2014 6:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1328

Re: Buying a house with a partner, not married

Ok, so I fully understand the comments, but this isn't part of the debate. The question isn't should they buy a home or not. The question is, they're going to buy a home, so what's the best way to go about it? Let's start with that premise for those willing to chime in.
by MN Finance
Fri Mar 28, 2014 6:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1328

Buying a house with a partner, not married

My brother asked for some legal suggestions and I had ideas, but thought I'd post here. There are plenty of google searches on the topic, but a lot of garbage. He and his long time girlfriend are buying a house together. They plan to get engaged and married in the near future, but nothing has been d...
by MN Finance
Fri Mar 28, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1328

Re: "Spinning Off" my 20 Year Old Son

Just to highlight a previous post, you don't get to decide if someone is a dependent or not on your tax return (though you can decide NOT to claim a dependent, that act is dumb because it doesn't mean they can then claim themselves just because you didn't.) They're either a dependent or not. Now if ...
by MN Finance
Wed Mar 26, 2014 1:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5994

Re: Best Way To Utilize $250,000?

I like the idea of the annuity in this case because it transfers longevity risk plus eliminates the risk of trying to invest the money yourself. There are downsides - lack of growth potential to combat inflation, and risk of coming out behind by living a short life - but I don't think those are huge...
by MN Finance
Tue Mar 25, 2014 8:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: I Really Would Appreciate Your Advice!
Replies: 72
Views: 2724

Re: What to do with Traditional IRA's

Disclaiming basically results in the asset passing as though the person doing the disclaiming was dead to start with. So, if primary disclaims, it goes to other primarys (if per capita), or contingents (if per stripes). The person disclaiming obviously has no rights to direct the funds.
by MN Finance
Mon Mar 24, 2014 10:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: What to do with Traditional IRA's
Replies: 10
Views: 712

Re: Education Expenses re: Deduction

Thanks all.

Ya, I get that soccer clinic isn't on the list. I just included examples. The total is going to be about $5k, so worth figuring out what counts.
by MN Finance
Mon Mar 24, 2014 10:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Education Expenses re: Deduction
Replies: 6
Views: 316

Education Expenses re: Deduction

Would this wise group help me sort through any available tax benefits to education expenses? I have 4 kids in primary education, public schools. I use TurboTax. I understand TT will guide us through questions, but this is in preparation. I've googled "list of education expenses that are tax ded...
by MN Finance
Mon Mar 24, 2014 7:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Education Expenses re: Deduction
Replies: 6
Views: 316

Re: Advice on restructuring elderly parents portfolio

Medicare premiums are dependent on your AGI. http://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html#collapse-4809 . If 60k in gains increases the premium, dad will want to know in advance. I would still sell and chalk this up as another "tax", but 90 year olds d...
by MN Finance
Mon Mar 24, 2014 2:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice on restructuring elderly parents portfolio
Replies: 19
Views: 1301

Re: What to do with Traditional IRA's

dickenjb wrote:Leave the Roth IRA's to your kids and if they wish they can disclaim them and they will pass to the grandkids, reducing the RMD's and extending the tax free earning of the IRA.

Keep in mind the asset may or may not pass along blood lines as desired (I assume) just because someone disclaims.
by MN Finance
Mon Mar 24, 2014 8:30 am
 
Forum: Personal Finance (Not Investing)
Topic: What to do with Traditional IRA's
Replies: 10
Views: 712

Re: What to do with Traditional IRA's

The easiest thing is just bypass the kids and make grandkids the beneficiaries. This is generally good in a lot of cases, but downside is that the g kids may do something dumb. But at this point they're getting old enough. Keep in mind that if you and the mrs. live long lives (here's hoping) the IRA...
by MN Finance
Mon Mar 24, 2014 8:23 am
 
Forum: Personal Finance (Not Investing)
Topic: What to do with Traditional IRA's
Replies: 10
Views: 712

Re: Advice on restructuring elderly parents portfolio

First, holding the individual stocks with relatively small gains in anticipation of getting a step up in basis is a poor decision if done simply for the tax benefit. (Forest for the trees). 60k in gains is 10k-12k in taxes on 270k in equities (less than 5%). Which means the stock picks can easily ha...
by MN Finance
Sun Mar 23, 2014 8:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice on restructuring elderly parents portfolio
Replies: 19
Views: 1301

Re: Vanguard annuities? Pro's vs cons?

It's not entirely clear what's happening. You want to do this for tax savings? Um, no you don't. You a) defer taxes, not save them, b) you trade capital gains rates for ordinary income rates, and c) have an ordering issue with withdrawals. Yes, over many years compounding can win out over the negati...
by MN Finance
Sat Mar 22, 2014 8:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard annuities? Pro's vs cons?
Replies: 11
Views: 1493

Re: Bit of update on CCF [Collateralized Commodity Futures]

Any good source for back tested risk/return comparisons w/ w/o CCFs?
by MN Finance
Thu Mar 20, 2014 5:44 pm
 
Forum: Investing - Theory, News & General
Topic: Bit of update on CCF [Collateralized Commodity Futures]
Replies: 10
Views: 1054

Re: Healthcare Fund VGHAX or Energy Fund VGELX

(Comment temporarily removed.)
by MN Finance
Mon Mar 17, 2014 9:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Healthcare Fund-VGHAX or Energy Fund-VGELX
Replies: 22
Views: 1410

Re: What is your 2013 Federal Effective Tax Rate?

The highest bracket is 39.6 and some would argue with PEP and Pease, somewhere near 41ish. I have no idea how 4 percent of respondents claimed to have rates higher than 42 percent. PEP and Pease only phase out exemptions and deductions. Even if you end up with 0 exemptions or deductions, I don't se...
by MN Finance
Fri Mar 14, 2014 1:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is your 2013 Federal Effective Tax Rate?
Replies: 73
Views: 4723

Re: What is your 2013 Federal Effective Tax Rate?

You don't have a selection for negative so I answered 0 to 3%. BTW 40% of the country has a negative federal rate (less if you include payroll taxes of course).
by MN Finance
Thu Mar 13, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is your 2013 Federal Effective Tax Rate?
Replies: 73
Views: 4723

Re: when to use up capital loss

It's not hard math. You either offset the gains or you get the arbitrage of tax rates on 40k (28 or 33 less 15) which is 7k, over 10 years. Not huge, but pretty good. Plus by carrying the loss you are assured of being able to liquidate a large amount in an emergency at some future point with less im...
by MN Finance
Thu Mar 13, 2014 10:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: when to use up capital loss
Replies: 13
Views: 602

Re: Large capital gain this year

I think this has run it's course, but I don't understand how TLH ing AAPL is any harder, emotional, or problematic than any index fund.
by MN Finance
Wed Mar 12, 2014 6:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Large capital gain this year
Replies: 68
Views: 2993

Re: Large capital gain this year

I see a little bit better what the OP wants to do now. The problem with it, aside from being complicated and subject to emotional whims, is that after the first year, you wind up with roughly half an index if you don't sell the winners, but sell the losers. Even if you buy VTI or some other fund wi...
by MN Finance
Wed Mar 12, 2014 2:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Large capital gain this year
Replies: 68
Views: 2993

Re: Large capital gain this year

The index could go down 30% this year (it has happened before). Your 50 stocks could be down 40% in such a market. The point is that the portfolio is extremely highly correlated to the index, so while technically it's possible to out/under perform, let's just say it's not a risk. underperforming ma...
by MN Finance
Wed Mar 12, 2014 2:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Large capital gain this year
Replies: 68
Views: 2993

Re: Large capital gain this year

I'll weigh in one more time. First, I am in no way saying that this is the "right" strategy. I expressed shock that it was dismissed on immaterial merits because it was pretty clear several replies had no idea what was happening. It's probably not a great strategy, but it's absolutely wort...
by MN Finance
Tue Mar 11, 2014 11:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Large capital gain this year
Replies: 68
Views: 2993
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