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Re: Shuffling between TSP, Edward Jones, and Vanguard

The Wizard wrote:We're not big fans of EJ here...


:happy I love understatement. I mean EJ is not in the same category as violent criminals but they probably have the same number of fans her. :happy
by Professor Emeritus
Sat Sep 20, 2014 9:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Shuffling between TSP, Edward Jones, and Vanguard
Replies: 14
Views: 1371

Re: Sale of a home between boyfriend and girlfriend.

folks , the facts as presented would support an extremely wide range of legal results. You don't know the facts so I suggest avoiding comments on the law.
by Professor Emeritus
Sat Sep 20, 2014 9:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Sale of a home between boyfriend and girlfriend.
Replies: 79
Views: 5535

Re: Are SPIA's fairly priced? - A quick and dirty analysis

There is something called Medical Underwriting, which I know nothing about personally, whereby a person with serious illness can get a personalized annuity quote (more $$ per month) based on a shorter expected lifespan, but I can't imagine that person would consider annuitization to begin with... I...
by Professor Emeritus
Sat Sep 20, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3567

Re: When did you feel "Out of the woods"?

When I was 40 years old I knew the kids would go to college and we would never lose the house even if i became totally disabled and could not work. When I was 50 years old I knew we could retire modestly even if I never worked again. When I hit 60 my wife was disabled and we went back into the woods...
by Professor Emeritus
Fri Sep 19, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: When did you feel "Out of the Woods"?
Replies: 42
Views: 5330

Re: Time Has Gone Quickly, 3 Months Till Retirement

Congratulations on your imminent retirement :) . We are age 69, retired 3 years, and comfortable with a 50/50 asset allocation. We haven't changed the allocation since about 3 years before retirement. Find your comfort level, and stick with it. Give up on the idea of market timing. Agree but lets b...
by Professor Emeritus
Fri Sep 19, 2014 3:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time Has Gone Quickly, 3 Months Till Retirement
Replies: 31
Views: 3875

Re: Are SPIA's fairly priced? - A quick and dirty analysis

I tend to agree with Prof Emeritus' sources that annuitizing is a beneficial concept but nonetheless, I would really like to know what the Insurance Company's cut on a typical SPIA is. Stated more simply: If an actuarily perfect SPIA for a certain set of conditions yields $1000 a month for life, wh...
by Professor Emeritus
Fri Sep 19, 2014 3:19 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3567

Re: Are SPIA's fairly priced? - A quick and dirty analysis

I tend to agree with Prof Emeritus' sources that annuitizing is a beneficial concept but nonetheless, I would really like to know what the Insurance Company's cut on a typical SPIA is. Stated more simply: If an actuarily perfect SPIA for a certain set of conditions yields $1000 a month for life, wh...
by Professor Emeritus
Fri Sep 19, 2014 3:17 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3567

Re: Are SPIA's fairly priced? - A quick and dirty analysis

The longer I'm around, the more I realize that annuities are a great deal for insurance companies. Not so for the average annuitant. Well qualified scholars disagree , and attribute the failure to annuitize to "psychological or behavior issues" These results imply that annuities are quite...
by Professor Emeritus
Fri Sep 19, 2014 2:22 pm
 
Forum: Investing - Theory, News & General
Topic: Are SPIA's fairly priced? - A quick and dirty analysis
Replies: 75
Views: 3567

Re: Immediate payable annuity is a bad investment?

Frugal Al wrote: And yes, for most annuities sold (including many SPIAs), the insurance companies do make huge rates of return and pay a pittance to the old folks--it's what they do. .


Citation?
by Professor Emeritus
Fri Sep 19, 2014 7:47 am
 
Forum: Investing - Theory, News & General
Topic: Immediate payable annuity is a bad investment?
Replies: 45
Views: 2643

Re: Alibaba is NOT coming to an index near you

Wouldn't it be in the total world index? As what? How good they are at keeping the elite "content"? Beyond page 19 of the document, though, lies a stark reminder that investing in a Chinese company - especially one as sprawling as Alibaba - is also a wager on how well it can get along wit...
by Professor Emeritus
Fri Sep 19, 2014 6:05 am
 
Forum: Investing - Theory, News & General
Topic: Alibaba is NOT coming to an index near you
Replies: 33
Views: 3644

Re: Alibaba is NOT coming to an index near you

[OT comments removed by admin LadyGeek]
by Professor Emeritus
Fri Sep 19, 2014 5:16 am
 
Forum: Investing - Theory, News & General
Topic: Alibaba is NOT coming to an index near you
Replies: 33
Views: 3644

Re: A safe full of cash

If you are a criminal and on the run CASH is KING.

For anyone else cash makes you the target. The more desperate the situation, the less it takes to make it worth it to kill you .
by Professor Emeritus
Fri Sep 19, 2014 5:00 am
 
Forum: Investing - Help with Personal Investments
Topic: A safe full of cash
Replies: 22
Views: 3063

Re: cost of raising a child by age group

just had our first child a month ago :D so wanted to get an idea of whats to come financially. obviously raising a child is very expensive but I was looking to see which age group is generally the most expensive and which is the least (if there is such a thing). so based on your experience, how wou...
by Professor Emeritus
Fri Sep 19, 2014 4:13 am
 
Forum: Personal Consumer Issues
Topic: cost of raising a child by age group
Replies: 27
Views: 2460

Re: Immediate payable annuity is a bad investment?

Annuities are very Bogle. They get you the low risk market rate of return on an actuarial risk of longevity. They are Bogleheadish if the fees are low enough. The fees from most companies are obscene. But I suppose that's not so different from mutual funds. I agree that annuities have to be "f...
by Professor Emeritus
Thu Sep 18, 2014 4:26 pm
 
Forum: Investing - Theory, News & General
Topic: Immediate payable annuity is a bad investment?
Replies: 45
Views: 2643

Re: Immediate payable annuity is a bad investment?

If the Forbes author was anything other than a charlatan, he would go into the business of SELLING annuities. It would be such easy money. Make huge rates of return and pay a pittance to the old folks Except that he is a charlatan and it isn't easy money. According to him pension funds should have n...
by Professor Emeritus
Thu Sep 18, 2014 3:34 pm
 
Forum: Investing - Theory, News & General
Topic: Immediate payable annuity is a bad investment?
Replies: 45
Views: 2643

Re: Rental property with in-laws: please help!

It looks to me like this came about while you were trying to aquire a loan for a house. If the only impact of this mess on aquiring the new house is that it went up 50bp, I would continue to get the new house. Once you've finished the process of buying your house to live in, then your wife can stra...
by Professor Emeritus
Thu Sep 18, 2014 2:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

I suspect they are feeling guilty for the horrible thing they have done, and would feel even worse if her credit is destroyed, so they will do what they can to cover everything. I call it "well-deserved emotional blackmail".. IMHO you are far too kind to the parents. I don't think they fe...
by Professor Emeritus
Thu Sep 18, 2014 3:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

Meg - in your summary you may have missed the part where it is the parents that built this house on spec. They then browbeat the daughter into buying it despite her declining their offer. Their financial advice to their college-aged daughter is now going to result in a nearly 6 figure loss for her ...
by Professor Emeritus
Wed Sep 17, 2014 5:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Do you plan trips on your own or use a TA?

I never use travel agents except in South Africa where my TA has been fantastic in cutting through the fog.
by Professor Emeritus
Wed Sep 17, 2014 2:29 pm
 
Forum: Personal Consumer Issues
Topic: Do you plan trips on your own or use a [travel agent]?
Replies: 36
Views: 1537

Re: Rental property with in-laws: please help!

Remember according to the OP that the Parents built and sold the house in the first place, So they sold the daughter the house for 240 k and now will grandly take her off the hook as long s she pays the 43k?

I did say the financials don' t add up.
by Professor Emeritus
Wed Sep 17, 2014 5:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

1) the parents won't level with you. Their property management firm has all the documents you need. Who built the house , deeds everything. 2) If they were honest your wife would have been given copies of everything. They think you are a mushroom . 3) The financials don't add up. What is the current...
by Professor Emeritus
Tue Sep 16, 2014 5:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Strange Billing Practice by Medical Provider

I'm an independent physician and agree I don't understand. Copays upfront is normal. I've also heard of paying the whole Thing up front And placing the onus of submitting the Claim to the patient. If u pay the whole thing and no one submits a claim sounds fishy and maybe illegal. Why would a patien...
by Professor Emeritus
Tue Sep 16, 2014 2:26 pm
 
Forum: Personal Consumer Issues
Topic: Strange Billing Practice by Medical Provider
Replies: 38
Views: 2725

Re: How much to self insure LTC and longevity? hypothetical

In the case of spouse, I was told, and need some confirmation, that you can separate your assets from those of your spouse when you are in LTC. When you run out of your assets (not your spouse's), you can apply for Medicaid. So your spouse's assets are protected. in general only up to a limit which...
by Professor Emeritus
Tue Sep 16, 2014 2:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to self insure LTC and longevity? hypothetical
Replies: 13
Views: 708

Re: How much to self insure LTC and longevity? hypothetical

We "self insure" for long term care. DW is disabled so purchase was not an option and we need close to indefinite coverage. We each have DB pensions and SS. Mine would cover 80/90% of my LTC. DWs are smaller 70/80%. so we need to cover 10-30% of costs on an additional costs basis per year....
by Professor Emeritus
Tue Sep 16, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to self insure LTC and longevity? hypothetical
Replies: 13
Views: 708

Re: Blending Wellesly , TSP and Bonds

Vanguard Wellesley has about a 40/60 stock/bond ratio. The stocks tend to be large value and so the Vanguard Value Index would be a close match although it skews a bit smaller than Wellesley does (67,28,5 vs. 53,35,12 for (Giant, Large, Medium Morningstar categories)). Wellesley has more corporate ...
by Professor Emeritus
Tue Sep 16, 2014 11:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Blending Wellesly , TSP and Bonds
Replies: 5
Views: 661

Blending Wellesly , TSP and Bonds

We are retired low 60s . DW is disabled and I am full time caretaker. I keep staring at our retirement investment portfolio and wondering if we can do it any better on fees. I liquidated our Cref stock account this year since this is a "low income year" (no AMT for the first time in 20 yea...
by Professor Emeritus
Tue Sep 16, 2014 7:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Blending Wellesly , TSP and Bonds
Replies: 5
Views: 661

Re: How much you need to save as multiple of salary

Folks, most Bogleheads rate B+ to A+ on understanding of personal finance . Out THERE, in what is often laughingly called the real world, its closer to D- or F. To give an example If you understand imputed rent on an owner occupied house You get an "A" If you think you "earned" t...
by Professor Emeritus
Tue Sep 16, 2014 4:47 am
 
Forum: Investing - Theory, News & General
Topic: How much you need to save as multiple of salary
Replies: 51
Views: 6315

Re: Rental property with in-laws: please help!

younginvestor wrote: Her parents owned a construction company as one of their businesses. I think they bought the land for 30k, had their construction company build the home, and sold it to my wife in 2006..


They built a spec house , couldn't sell it and dumped it on your wife.
by Professor Emeritus
Tue Sep 16, 2014 3:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

[offensive comment removed by admin alex]
by Professor Emeritus
Tue Sep 16, 2014 3:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

Young investor, I frankly at this point think you have enough information. By enough, I mean that you will never understand it all as you are dealing with very sophisticiated in-laws while you are and your wife are not (and you shouldn't be). Others will disagree with me but those who know me know ...
by Professor Emeritus
Mon Sep 15, 2014 7:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Should I step in to help my in law pay off credit card d

Honest question And I am not saying don't pay it off. But if she is "poor as a church mouse", by what logic does she go deep into debt on a dying pet? If she had asked for the 3k up front would you give it to her? Does having a pet cause your brains to fall out? What if She needs the money...
by Professor Emeritus
Mon Sep 15, 2014 3:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I step in to help my in law pay off credit card debt
Replies: 31
Views: 2638

Re: Should I purchase retirement home with in-laws?

What is the deal with Medicaid? Also, why is it such a horrible idea? I don't see how it will get messy we were all going to be on the mortgage together. We would use the residence as our vacation house for the week we go on vacation each summer so we would save the $ we usually use to rent a place...
by Professor Emeritus
Mon Sep 15, 2014 2:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I purchase retirement home with in-laws?
Replies: 18
Views: 1295

Re: Should I purchase retirement home with in-laws?

It is , unfortunately a bad idea for more reasons than I can name. But I'll just give one, MEDICAID.

Such an ownership situation is horribly difficult to unwind. Been there, Done that .
by Professor Emeritus
Mon Sep 15, 2014 12:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I purchase retirement home with in-laws?
Replies: 18
Views: 1295

Re: Rental property with in-laws: please help!

Thank you for the replies. My wife is going to call the loan companies tomorrow, so I will figure out more information and answer the above questions. My in-laws want to have a conference call, but need to figure out details of the loan and HELOC first. IMHO That gives me a very bad feeling. What c...
by Professor Emeritus
Mon Sep 15, 2014 5:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

Folks, there does not appear to be anything amiss here. At the height of the real estate bubble in 2006, anyone could get 100% financing (or more). This is a classic 80/20 plan, where the primary loan of 80% has no need for PMI, and the 20% HELOC covers the "down payment" required by the ...
by Professor Emeritus
Sun Sep 14, 2014 2:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Rental property with in-laws: please help!

I had experience with in-laws and real estate. Yes it's a scheme. Yes your wife is involved whether ignorant or not, but she is, and blood is thicker than water. Which means, in order for you to get your respect you either need to be on the same page as your wife (sounds like it will be impossible ...
by Professor Emeritus
Sun Sep 14, 2014 9:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Could you sleep with all your money in Berkshire Hathawa

VictoriaF wrote:The secret to sleeping well is what's happening between the sheets, that is spreadsheets.

Victoria


very very deep since NOTHING happens BETWEEN the spreadsheets. So Victoria's Secret to sleeping well is the ability to appreciate that sometimes nothing can be a real cool hand
by Professor Emeritus
Sun Sep 14, 2014 8:09 am
 
Forum: Investing - Theory, News & General
Topic: Could you sleep with all your money in Berkshire Hathaway?
Replies: 49
Views: 3895

Re: Could you sleep with all your money in Berkshire Hathawa

I there's no reason to believe that the market price of Berkshire Hathaway is wrong. . This is true of any stock, or gold or goose feathers. The market price is always "right" . But that is the right answer to the wrong question. the Key issue is how much of the overall market is represen...
by Professor Emeritus
Sun Sep 14, 2014 8:05 am
 
Forum: Investing - Theory, News & General
Topic: Could you sleep with all your money in Berkshire Hathaway?
Replies: 49
Views: 3895

Re: Rental property with in-laws: please help!

Is this a non-recourse mortgage or a recourse mortgage? http://www.investopedia.com/ask/answers/08/nonrecourse-loan-vs-recourse-loan.asp If it's a recourse mortgage or HELOC your In-laws are simply crooks. In effect they used the HELOC to pledge your wife's credit for their business . If for any rea...
by Professor Emeritus
Sun Sep 14, 2014 4:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7815

Re: Hearing aids - for those that use them

I realized 12 years ago could not hear a female student in class. It turned out I had a genetic "Notch" in my hearing that was right at the pitch of Most women's voices. While always there, when combined with normal aging it produces big effects by age 50. I have tiny ReSound behind the ea...
by Professor Emeritus
Sun Sep 14, 2014 3:59 am
 
Forum: Personal Consumer Issues
Topic: Hearing aids - for those that use them
Replies: 29
Views: 1777

Re: The dangerous practice of rebalancing...

One person's opinion We are retired. low 60s I use a time based analysis. I have 100% of 20 years normal consumption in absolute no risk investments. 75 % of that is lifetime no risk I have a long term care fund equal to the additional costs for 10 person/years LTC in Wellesley I have an emergency f...
by Professor Emeritus
Sat Sep 13, 2014 6:30 am
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 191
Views: 14013

Re: What type of assets can a lawyer see that you have?

I happen to work at a bank and I can tell you that an account with a $0 balance is not a liability any more than a loan with a $0 balance is an asset. Why? Because it is money that makes them an asset or a liability. To say otherwise is just plain silly. You really don't understand the meaning of t...
by Professor Emeritus
Sat Sep 13, 2014 3:35 am
 
Forum: Personal Finance (Not Investing)
Topic: What type of assets can a lawyer see that you have?
Replies: 32
Views: 4053

Re: Clean, quiet, safe and cheap. Is there such a travel pla

Let me speak up for Grand Junction Colorado. Amazing scenery , nice folks.
by Professor Emeritus
Fri Sep 12, 2014 9:10 am
 
Forum: Personal Consumer Issues
Topic: Clean, quiet, safe and cheap. Is there such a travel place?
Replies: 75
Views: 5751

Re: Hiring your kids

I get what you are saying but that does bring up an interesting point. Can the government really dictate what you can pay someone? As long as you are paying all the payroll taxes and the person is issued a W2 it seems you should be able to pay them what you want. You can pay them what you like. You...
by Professor Emeritus
Thu Sep 11, 2014 6:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hiring your kids
Replies: 34
Views: 2103

Re: What type of assets can a lawyer see that you have?

Not a chance. the asset is the bank account. Switching banks to hinder a creditor is a violation. From the UFTA (12) “Transfer” means every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes ...
by Professor Emeritus
Thu Sep 11, 2014 2:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: What type of assets can a lawyer see that you have?
Replies: 32
Views: 4053

Re: What type of assets can a lawyer see that you have?

I don't know where you practice but In our procedure you get an order freezing the assets and also directing the debtor to supplement answers if they acquire any more. California for example 3439.04. (a) A transfer made or obligation incurred by a debtor is fraudulent as to a creditor, whether the ...
by Professor Emeritus
Thu Sep 11, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: What type of assets can a lawyer see that you have?
Replies: 32
Views: 4053

Re: College-bound teens and finances

I had my first passbook savings account when I was 12. I went on the family checking account when I was 14. My Best example of the importance of knowledge. IN 1968 The local bank at college had a sweetheart deal with some regents who got fees for serving as directors. They kept the universities mone...
by Professor Emeritus
Thu Sep 11, 2014 5:29 am
 
Forum: Personal Finance (Not Investing)
Topic: College-bound teens and finances
Replies: 35
Views: 2452

Re: What type of assets can a lawyer see that you have?

As someone else said, if someone gets a judgment against you they can also call you in for a debtor's examination. You will then testify under oath and penalty of perjury how much and where all your assets are. Of course, if you tell them that there is $100,000 in a Checking account at TD Bank ther...
by Professor Emeritus
Thu Sep 11, 2014 4:20 am
 
Forum: Personal Finance (Not Investing)
Topic: What type of assets can a lawyer see that you have?
Replies: 32
Views: 4053

Re: WA state Teacher Retirement System questions

I think we are doing the OP a disservice as he is probably quite young. I "laugh" when I read a post like this only because the way things are going, the chance that this system will be in place in 30 years is virtually zero. (I am not saying she will lose anything she gets rights to but ...
by Professor Emeritus
Wed Sep 10, 2014 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: WA state Teacher Retirement System questions
Replies: 32
Views: 2279

Re: Employer finding out you have a financial cushion?

[ You are compensated based on your value to the firm. Your compensation is commensurate with this value simply because the firm realizes its necessary to retain you. The first statement is actually false , but the second statement is true. Your value to the firm sets a cap on what they will pay. W...
by Professor Emeritus
Tue Sep 09, 2014 7:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 72
Views: 8138
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