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Re: Son graduating college-what to do?

During my career in government, we hired many recent college graduates as career interns. That means underpaid for the first 18-24 months until one or two automatic promotions come. I always talked to them about finances after they learned they had the job. "Look, here's the deal. We don't pay...
by Professor Emeritus
Sat Mar 28, 2015 3:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Son graduating college-what to do?
Replies: 39
Views: 3017

Re: Mortgage Debt in Retirement?

The effective interest I am paying is ~2.5%, and that is nominal. Making 5% nominal off my (leveraged) portfolio is not unreasonable, IMO. And the last 5 years have averaged better than 10%. This is one chance to let inflation be your best friend - the longer you take to pay off the mortgage, the c...
by Professor Emeritus
Sat Mar 28, 2015 3:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Debt in Retirement?
Replies: 68
Views: 3839

Re: Mortgage Debt in Retirement?

Mortgage or not doesn't necessarily impact your taxable income that much. Really? Let's say you have a $1,500 mortgage payment, that means you are paying $18,000 per year. If you are in the 25% marginal tax bracket, you need to have $24,000 more income to pay the mortgage as compared to if you did ...
by Professor Emeritus
Sat Mar 28, 2015 2:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Debt in Retirement?
Replies: 68
Views: 3839

Re: Mortgage Debt in Retirement?

There is nothing "special" about mortgage debt, except its tax treatment. It's debt like any other debt. Th risk is that people hang on to more house than they can afford. Subtract the debt from your portfolio and compare your portfolio to your house value. Add to your portfolio the capita...
by Professor Emeritus
Fri Mar 27, 2015 8:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Debt in Retirement?
Replies: 68
Views: 3839

Re: 403b Question

It seems to be one place where Teachers Unions and Boards of Educations are working together to maintain sub par options.......If enough teachers become Bogleheads, maybe the system can be improved Gordon We have excellent options in Maryland. I was on the pension review committee some years ago ht...
by Professor Emeritus
Thu Mar 26, 2015 9:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Question
Replies: 26
Views: 1858

Re: Capital preservation in retirement

Also retired. Your big risk/expense is long term care. The problem with stocks for the elderly is that if the long term care cost hits, it hits big fast and at any time. We self insure for long term care. Counting pensions and SS we can manage 120K a year each for 7 years. That money is carefully ke...
by Professor Emeritus
Thu Mar 26, 2015 10:34 am
 
Forum: Investing - Help with Personal Investments
Topic: Capital preservation in retirement
Replies: 23
Views: 2579

Re: Another 4% question

Truthfully I cannot understand your question. are you retired? etc forget any connection between the house and the loan. you own the house its an asset it gives you imputed income in the form of housing. you are paying back the loan. a loan is a portfolio liability which is subtracted for net worth ...
by Professor Emeritus
Wed Mar 25, 2015 9:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Another 4% question
Replies: 10
Views: 1123

Re: [Neighbor violating HOA rules by using] VBRO and Airbnb

Is there some way this guy can sue me for helping my HOA? One of my neighbors asked to use my court house computer account to do a mini-background check on all the people. He did whatever he did and made some printouts at my house. Then he photocopied the printouts and distributed them to the neigh...
by Professor Emeritus
Tue Mar 24, 2015 1:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Neighbor violating HOA rules by using] VBRO and Airbnb
Replies: 38
Views: 3847

Re: The one area I disagree with Jack

OFGS another thread created because people cannot understand that "stock" and flow analysis are simply two ways of looking at the same financial. Architects draw both elevations and plans of the same building. BUT IT'S THE SAME BUILDING I'm a legal taxonomist I have worked in classificatio...
by Professor Emeritus
Tue Mar 24, 2015 10:06 am
 
Forum: Investing - Theory, News & General
Topic: The one area I disagree with Jack
Replies: 93
Views: 7293

Re: Finance Annuity with my money for Parents

Any thoughts on such an arrangement? :happy yes as the husband of a physician, as an idea it ranks with me doing your colonoscopy. Only perhaps more painful :happy I've been a lawyer for 35 years and it still amazes me how people can invent legal nightmares. What is their long term care situations?...
by Professor Emeritus
Sun Mar 22, 2015 3:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Finance Annuity with my money for Parents
Replies: 4
Views: 488

Re: Kotlikoff: When Should you Take Social Security?

^I personally view medium and short bonds as losers because there is virtually Zero yield, negative return with inflation, And reacts to every "utterrance" of the FRB chairperson and hiccup of international economies. Or you can convert stocks to bonds in the IRA at age 62 beginning and w...
by Professor Emeritus
Sun Mar 22, 2015 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 220
Views: 19869

Re: Tricky-to-categorize assets

all classification is for a purpose . Portfolio asset allocation is not a two shoe box activity. It is a matrix in which the risk of every portfolio asset has to be included. Alternatively it is a kind of computer game indulged in by those with nothing better to do. You can calculate meaningless num...
by Professor Emeritus
Sun Mar 22, 2015 1:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tricky-to-categorize assets
Replies: 11
Views: 373

Re: Kotlikoff: When Should you Take Social Security?

1. Delaying SS meant that we had to utilize the IRA. In a declining market, you use up the IRA funds more rapidly and could take the IRA income at inopportune times on a RBD, week/month/year. Or you can convert stocks to bonds in the IRA at age 62 beginning and withdraw each year. That way you know...
by Professor Emeritus
Sun Mar 22, 2015 7:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 220
Views: 19869

Re: Liability coverage needed for tree removal

It is actually more important that they have all required permits and licenses and that you not in any way tell them how to do what they are doing. You want to make sure they are independent contractors. That being said this is one of the reasons I carry a big umbrella policy, against charges of neg...
by Professor Emeritus
Sat Mar 21, 2015 9:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Liability coverage needed for tree removal
Replies: 11
Views: 1124

Re: Recruiters asking for current compensation

My strategy would be to give them what they ask but then make it irrelevant by making clear what your expected salary range is. SpaceMonkey, But, in many employers, the HR policy limit the pay raise to X% (15 to 20??) over your current pay. So, once you tell HR your current salary, you had limited ...
by Professor Emeritus
Sat Mar 21, 2015 8:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Recruiters asking for current compensation
Replies: 51
Views: 4055

Re: Legal for Doctor to Cover Insurance Co-pay?

I'll be interested in the responses as our dentist does this as a matter of course to get us to do things (resins, etc.) that we probably wouldn't do otherwise. A fairly written piece is at http://www.medicalbillingstudycourse.com/tips/truth-about-waiving-copays/ In many states it is fraud. It is a...
by Professor Emeritus
Sat Mar 21, 2015 8:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Legal for Doctor to Cover Insurance Co-pay?
Replies: 40
Views: 2904

Re: Whats a good Pistol to buy?

Just a note on travelling through states with a firearm (as opposed to residents travelling within their own state). Federal law allows you to transport unloaded firearms and ammunition as long as they are in an inaccessible trunk or locked container other than a console or glovebox. This trumps an...
by Professor Emeritus
Sat Mar 21, 2015 3:48 am
 
Forum: Personal Consumer Issues
Topic: Whats a good Pistol to buy?
Replies: 109
Views: 7755

Re: Doctor's office requires credit card on file

Not to mention the benefits they receive from having an electronic system. You are clearly not a physician, because there are no benefits of having an EMR. Lets see, my Physician wife is one of the world pioneers in EMR (Founding fellow of the ACMI). I did my first sabbatical on emr in Frankfurt an...
by Professor Emeritus
Sat Mar 21, 2015 12:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Doctor's office requires credit card on file
Replies: 55
Views: 2946

Re: Whats a good Pistol to buy?

Pistols are semi-automatics, Revolvers are, well, revolvers but are not actually pistols sorry NO Pistol is a noun It is a hand held firearm Revolving, automatic, semi automatic, horse,wheel-lock, rifled, flintlock, double barreled, machine, navy, Colt, Browning, Lugar etc are all adjectives that c...
by Professor Emeritus
Fri Mar 20, 2015 10:29 pm
 
Forum: Personal Consumer Issues
Topic: Whats a good Pistol to buy?
Replies: 109
Views: 7755

Re: Whats a good Pistol to buy?

Pistols are semi-automatics, Revolvers are, well, revolvers but are not actually pistols sorry NO Pistol is a noun It is a hand held firearm Revolving, automatic, semi automatic, horse,wheel-lock, rifled, flintlock, double barreled, machine, navy, Colt, Browning, Lugar etc are all adjectives that c...
by Professor Emeritus
Fri Mar 20, 2015 4:35 pm
 
Forum: Personal Consumer Issues
Topic: Whats a good Pistol to buy?
Replies: 109
Views: 7755

Re: Help w/ my mom's financial situation

If she retires from full-time work she will still work part time and collect her pension. She definitely knows she can't retire with what little she has saved and her small pension. If I was her I'd cut living expenses down and try to save at-least a few thousand per year but to my knowledge she li...
by Professor Emeritus
Fri Mar 20, 2015 3:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Help w/ my mom's financial situation
Replies: 18
Views: 1731

Re: Help w/ my mom's financial situation

I suspect you are rearranging the deckchairs on the TITANIC.
She needs a financial plan long before an investment plan
I don't see any SS analysis. Without that
your mother does not have enough to retire on at her current lifestyle no matter what you do with the money.
by Professor Emeritus
Fri Mar 20, 2015 2:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Help w/ my mom's financial situation
Replies: 18
Views: 1731

Re: Is this Investing or Speculating?

I was certainly taught a definition very close to the Wiki Speculation is the practice of engaging in risky financial transactions in an attempt to profit from fluctuations in the market value of a tradable good such as a financial instrument, rather than attempting to profit from the underlying fin...
by Professor Emeritus
Thu Mar 19, 2015 10:20 pm
 
Forum: Investing - Theory, News & General
Topic: Is this Investing or Speculating?
Replies: 24
Views: 2002

Re: Have You Prepared A Durable Power Of Attorney?

Unless they have changed policy Vanguard will not honor your durable power of attorney. That is the major reason why my wife's retirement funds are not there. Do not confuse their own form with the powers routinely conveyed in a broad form power of attorney. The issue in her case was successors to t...
by Professor Emeritus
Wed Mar 18, 2015 9:46 pm
 
Forum: Personal Consumer Issues
Topic: Have You Prepared A Durable Power Of Attorney?
Replies: 19
Views: 1285

Re: Kotlikoff: When Should you Take Social Security?

Just to stir the pot, since DW is disabled, just remember that if you will need Medicaid for long term care the case for deferring can simply evaporate. You get no benefit at all from the delay since Medicaid "takes" virtually all your income. (yes i know the exceptions but it is a major d...
by Professor Emeritus
Wed Mar 18, 2015 3:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 220
Views: 19869

Re: Should you hold bonds and a mortgage at the same time?

rca1824 wrote:
Having 50% of your net worth investing in a house seems risky though. Of course the question takes this as given.
.



For a retired person sure. for a young working person it is not at all unusual for the house to be Most or all of the "net worth".
by Professor Emeritus
Tue Mar 17, 2015 7:01 am
 
Forum: Investing - Theory, News & General
Topic: Should you hold bonds and a mortgage at the same time?
Replies: 78
Views: 6069

Re: What does a $1M portfolio look like?

sometimesinvestor wrote:There are a very small number of persons with a 1 million dollar tax sheltered portfolio that's not a Keogh. T


Why do you say or think that?
by Professor Emeritus
Tue Mar 17, 2015 6:55 am
 
Forum: Investing - Help with Personal Investments
Topic: What does a $1M portfolio look like?
Replies: 64
Views: 9937

Re: Possible for concrete to set up ok, but turn to mush lat

Just to re-ask for clarity: Is there a scenario in which, a few hours or days after the pour, the concrete would seem good and hard and sound, and yet over 1-10 years turn to gritty powder (mush when damp)? (i.e. As opposed to not setting up in the first place, or just developing cracks over time.)...
by Professor Emeritus
Tue Mar 17, 2015 5:40 am
 
Forum: Personal Consumer Issues
Topic: Possible for concrete to set up ok, but turn to mush later?
Replies: 5
Views: 961

Re: Whole Life Insurance as asset protection

No, its not. Even if you have the ethics of a thieving liar and a willingness to go to jail someone will narc you out for a percentage. In my many years on this earth I have sadly learned that thieving liars do very well, ask "financial advisers", ask politicians. No one said they didn't....
by Professor Emeritus
Tue Mar 17, 2015 5:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance as asset protection
Replies: 40
Views: 2961

Re: Kotlikoff: When Should you Take Social Security?

Here's part of a table from Get What's Yours . This is a table showing at what age men claimed SS in 2012. The top row is age of claimant The second row is % of claimants at each age 62 63 64 65 66 DI* 67-69 70 38 6 7 12 18 16 2 1 *DI - Disability payments are automatically converted to retirement ...
by Professor Emeritus
Mon Mar 16, 2015 9:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 220
Views: 19869

Re: Possible for concrete to set up ok, but turn to mush lat

depending on your area you can have what is called Concrete Cancer From wiki http://en.wikipedia.org/wiki/Concrete_cancer Alternatively, if the cement component is too alkaline, it reacts with atmospheric carbon dioxide, and the structure will begin to deteriorate as star-shaped cracks appear which ...
by Professor Emeritus
Mon Mar 16, 2015 6:55 pm
 
Forum: Personal Consumer Issues
Topic: Possible for concrete to set up ok, but turn to mush later?
Replies: 5
Views: 961

Re: Advice on guiding an hour discussion with military

One suggestion

Invite the spouses !!!!!
by Professor Emeritus
Mon Mar 16, 2015 3:03 pm
 
Forum: Investing - Theory, News & General
Topic: Advice on guiding an hour discussion with military
Replies: 35
Views: 1940

Re: Whole Life Insurance as asset protection

A few points: 1) Asset protection law is state specific. Be sure you know your state law. New Jersey protects $11,000 in cash value from creditors. Gold bullion buried in the back yard would be 100% protected from creditors. No, its not. Even if you have the ethics of a thieving liar and a willingn...
by Professor Emeritus
Mon Mar 16, 2015 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance as asset protection
Replies: 40
Views: 2961

Re: They're betraying Mr. Bogle

Here's a rule intended for "fiduciaries" implementing clients' allocations: “Have access to a broad universe of investment vehicles that provide ample options to meet the desired asset allocation and in consideration of widely accepted criteria.” Seems to me UN-fiduciary. The straight way...
by Professor Emeritus
Mon Mar 16, 2015 2:17 pm
 
Forum: Investing - Theory, News & General
Topic: They're betraying Mr. Bogle
Replies: 8
Views: 2347

Re: Watch out for this email scam (robbed in another country

I got one and the person it was supposedly from was sitting next to me !!!

I also got one "from" a colleague who was deceased.


For examples http://www.snopes.com/fraud/distress/family.asp
by Professor Emeritus
Mon Mar 16, 2015 11:35 am
 
Forum: Personal Consumer Issues
Topic: Watch out for this email scam (robbed in another country)
Replies: 5
Views: 1144

Re: maximum social security benefit

I still don't buy it - she makes about $80K a year NOW tops. . . Is she by any chance adding in the spousal benefit? DW is disabled and her benefit is equal to her FRA at just over 30 K I project mine to be 38,000 at age 70 assuming I don't work any more for pay But I will get 15 k in spousal benef...
by Professor Emeritus
Mon Mar 16, 2015 10:29 am
 
Forum: Personal Finance (Not Investing)
Topic: maximum social security benefit
Replies: 17
Views: 1894

Re: Rental offer on house for sale

Agreeing with all the other posters I would point out that the reason for the disconnect is the difference between renting/ owning a structure and renting/owning Land. Any piece of land where you can tear down the structure and replace it shows a total disconnect between owning and renting. Condomin...
by Professor Emeritus
Mon Mar 16, 2015 8:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental offer on house for sale
Replies: 8
Views: 983

Re: Whole Life Insurance as asset protection

The doctors joked about his change of heart but he just said he was a professional athlete who had signed a free agent deal with a new team. More like a hired hit man. The barristers joke in London was the difference between barristers and prostitutes is that prostitutes sometimes turned down an un...
by Professor Emeritus
Sun Mar 15, 2015 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance as asset protection
Replies: 40
Views: 2961

Re: Whole Life Insurance as asset protection

To answer a few issues, I was not an innocent bystander to the business deal in which I was involved. The details are too involved to discuss here but I made mistakes although suffered financially remarkably little as most of my assets were tied up in my retirement accounts and the cash value of th...
by Professor Emeritus
Sun Mar 15, 2015 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance as asset protection
Replies: 40
Views: 2961

Re: Do you buy "off-brand" gasoline?

It appears from the activity at the pumps and regular presence of a tanker truck that Costco probably has the freshest gas available. They also tout their detergent additives but it would be nice if they would get it certified as "Top Tier." As far as I know it is not and Costco has not r...
by Professor Emeritus
Sun Mar 15, 2015 4:24 pm
 
Forum: Personal Consumer Issues
Topic: Do you buy "off-brand" gasoline?
Replies: 81
Views: 9422

Re: Sell gas station for one dollar

If the tanks have been leaking for years the owner must have known because he was buying more gas then he was selling. I'm from New Jersey and have no tolerance or sympathy for polluters; if he doesn't take the $1 he should be prosecuted. I don't believe you're correct. The leak(s) could have been ...
by Professor Emeritus
Sun Mar 15, 2015 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 3917

Re: Sell gas station for one dollar

If the tanks have been leaking for years the owner must have known because he was buying more gas then he was selling. I'm from New Jersey and have no tolerance or sympathy for polluters; if he doesn't take the $1 he should be prosecuted. I don't believe you're correct. The leak(s) could have been ...
by Professor Emeritus
Sun Mar 15, 2015 5:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 3917

Re: Whole Life Insurance as asset protection

In all sincerity you describe because of a bad business deal in which I became entangled. Became entangled sounds like you were just walking along and a net dropped on your head. Did you make a business deal in which your personal assets were at risk? The reason I ask is we have extensive discussion...
by Professor Emeritus
Sun Mar 15, 2015 4:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance as asset protection
Replies: 40
Views: 2961

Re: What does a $1M portfolio look like?

My 3M dollar portfolio looks like it would if it were 1M: 6 years living expenses in Intermediate Term Investment Grade to ride out the mother of all bear markets, the rest in S&P 500. Simple, easy, manageable by DW should I PREDECEASE her. Regards, Peter Same general philosophy but we also kee...
by Professor Emeritus
Sat Mar 14, 2015 9:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: What does a $1M portfolio look like?
Replies: 64
Views: 9937

Re: If I Knew Then What I Know Now

My mother told me to learn how to cook and marry a Doctor. Worked for me. My only concern is the lack of discussion of risk and uncertainty in the various decisions. What do you do if a child is disabled? etc etc What do you do when you do your job well but the company is run into the ground or boug...
by Professor Emeritus
Sat Mar 14, 2015 5:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: If I Knew Then What I Know Now
Replies: 51
Views: 7329

Re: What does a $1M portfolio look like?

For our tax advantaged retirement portfolio we use a mix of VTSAX and spartan FSTMX and the TSP G fund along with legacy TIAA. We use Fidelity for legal reasons and TIAA has a very old high interest guarantee. If we want to reallocate and increase the G fund we have to roll the FTSMX into TSP All ta...
by Professor Emeritus
Sat Mar 14, 2015 5:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: What does a $1M portfolio look like?
Replies: 64
Views: 9937

Re: Understanding Your Net Worth

I thought it was an interesting article. The only thing I disagreed with was "The doctor, of course, can leave an estate. He can also borrow more easily from his conventional net worth." Actually it's much easier to borrow when you have conventional streams of income i.e. W2, pension, and...
by Professor Emeritus
Sat Mar 14, 2015 4:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Understanding Your Net Worth
Replies: 25
Views: 3494

Re: Understanding Your Net Worth

I thought it was an interesting article. The only thing I disagreed with was "The doctor, of course, can leave an estate. He can also borrow more easily from his conventional net worth." Actually it's much easier to borrow when you have conventional streams of income i.e. W2, pension, and...
by Professor Emeritus
Sat Mar 14, 2015 2:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Understanding Your Net Worth
Replies: 25
Views: 3494

Re: When will / did you claim Social Security benefits?

A bit of a paradox. Gambling to beat the market is not the best way to invest money. Gambling to beat the grim reaper is OK. All gambles are not equal. No one has special expertise in the Market or roulette. But he social security "gamble" is fixed in the other direction. By law it is a g...
by Professor Emeritus
Sat Mar 14, 2015 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: When will / did you claim Social Security benefits?
Replies: 133
Views: 9693

Re: Defined-Benefit Retirement Plan

I have a local govt pension from DB plan. I contributed 6% of my pre tax salary to plan when working. My employer contributed a variable amount, depending upon what was needed to meet the plan's long term liabilities. The calculation for that is very complicated and is done by an actuarial consulta...
by Professor Emeritus
Sat Mar 14, 2015 8:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Defined-Benefit Retirement Plan
Replies: 11
Views: 1126
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