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Re: Irrevocable "income only" trust, nursing home, tax quest

would be protected against Medicaid. . In other words pretending poverty to deplete a welfare program designed for poor people. Yes I know of the long standing ethics debate on "medicaid planning" Most of the participants have a blatant conflict of interest. Positivist arguments that anyt...
by Professor Emeritus
Sun Nov 30, 2014 10:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Irrevocable "income only" trust, nursing home, tax questions
Replies: 11
Views: 1286

Re: AA and Pension?

Because I would have a pension when I retired, I invested much more aggressively than the age in bonds rule of thumb. A few years before retirement (and after the recession in 2000) I backed off a bit from 80% equities to about 70%. I held at about 70% until a few years before I retired. I did not,...
by Professor Emeritus
Sun Nov 30, 2014 8:44 am
 
Forum: Investing - Help with Personal Investments
Topic: AA and Pension?
Replies: 31
Views: 2811

Re: Being woken up by neighbors above me

Mean-spirited and snarky responses: NOT APPRECIATED. Just because it's the Internet doesn't mean one should feel free to be a jerk. With compete respect and sympathy , may I possibly suggest that your follow on post invited the snarky responses . You suggested ambushing them (my term not yours) in ...
by Professor Emeritus
Sun Nov 30, 2014 7:01 am
 
Forum: Personal Consumer Issues
Topic: Being woken up by neighbors above me
Replies: 79
Views: 6294

Re: Strategy for paying for bridge years until Social Securi

I have set up a 5 year CD ladder in which a CD will come due every 6 months. I already work part time (24-30 hrs/week) (I am 60 in January) but my husband wants to work full time at his present job for 2 more years (he is 60). The plan is to use our CD ladder after hubby retires for the five years....
by Professor Emeritus
Sun Nov 30, 2014 6:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Strategy for paying for bridge years until Social Security
Replies: 20
Views: 3510

Re: Strategy for paying for bridge years until Social Securi

livesoft wrote:Strategy for playing bridge for years until Social Security? Why not keep playing even after that?


because 25% of the time you are the dummy?
by Professor Emeritus
Sun Nov 30, 2014 6:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Strategy for paying for bridge years until Social Security
Replies: 20
Views: 3510

Re: Am I a job hopper?

dbh25 wrote:]

You are not a job hopper. As mentioned above, you should be prepared to answer a general interview question about why you left any position stated on the resume.


I advise my students to say they have never broken an employment contract and the job they were doing ended.
by Professor Emeritus
Sun Nov 30, 2014 6:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Am I a job hopper?
Replies: 50
Views: 4571

Re: Am I a job hopper?

Job-hopping is an abusive term invented by HR managers to describe at-will employees who suddenly realized that loyalty only goes one way.
by Professor Emeritus
Sun Nov 30, 2014 6:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Am I a job hopper?
Replies: 50
Views: 4571

Re: AA and Pension?

You have two kinds of assets. Portfolio assets and non portfolio assets. A million dollar house is an asset but not a portfolio asset. A million dollar pension is an asset but not a portfolio asset. A million dollar gold toilet is an asset but not a portfolio asset. An annuity is an asset but not a ...
by Professor Emeritus
Sun Nov 30, 2014 5:33 am
 
Forum: Investing - Help with Personal Investments
Topic: AA and Pension?
Replies: 31
Views: 2811

Re: Home equity loan as an asset?

[quote="Admiral"]Professor Emeritus, all due respect, but many of us want to die with a positive net worth: it's called an estate, and it's what we leave to our kids (and grand kids). With all due respect I wrote If you don't have a bequest motive it may be a perfectly useful method of usi...
by Professor Emeritus
Sat Nov 29, 2014 7:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home equity loan as an asset?
Replies: 46
Views: 3138

Re: Should 529s be counted part of our net worth?

It makes sense to count the 529 in your net worth because it is your money. . No its not , plain and simple read the law (b) Qualified tuition program For purposes of this section— (1) In general The term “qualified tuition program” means a program established and maintained by a State or agency or...
by Professor Emeritus
Fri Nov 28, 2014 8:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should 529s be counted part of our net worth?
Replies: 34
Views: 2548

Re: Starter Trust for adult child?

There is a common concern among wealthy families that adult children will not be able to manage an inheritance. How to educate one's heirs before the big windfall lands in their laps? So, how about setting up a modest irrevocable trust for each child? A $500k trust would throw off maybe $15k per ye...
by Professor Emeritus
Fri Nov 28, 2014 11:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Starter Trust for adult child?
Replies: 13
Views: 1985

Re: Rental Real Estate vs. Stocks and Bonds

RE is an attractive idea, and you may just have to try it out for yourself. I have looked in to this from multiple angles over the years, and had a rental house for the last 4. I learned that I lacked the commitment to be an efficient landlord, which made the experience tedious and burdensome. Sell...
by Professor Emeritus
Fri Nov 28, 2014 9:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Rental Real Estate vs. Stocks and Bonds
Replies: 71
Views: 7236

Re: Filing homeowners Insurance claim - Sprinklers went off

I would file the claim. Ask if they waive the deductible or make other special allowances for a sprinkler activation.
by Professor Emeritus
Fri Nov 28, 2014 8:41 am
 
Forum: Personal Consumer Issues
Topic: Filing homeowners Insurance claim - Sprinklers went off
Replies: 13
Views: 1378

Re: Filing homeowners Insurance claim - Sprinklers went off

I took some pictures and a video while cleaning up. But why would I need that? If it is a case of proving it, I called the fire department so it should be on record. I also sustained burns on my for arms buy th ey are not severe so I haven't gone to the hospital. For those who know, would it be nec...
by Professor Emeritus
Fri Nov 28, 2014 7:45 am
 
Forum: Personal Consumer Issues
Topic: Filing homeowners Insurance claim - Sprinklers went off
Replies: 13
Views: 1378

Re: SS Survivor Benefit - Help!

Spousal benefits and survivor benefits are "welfare" components of social security. You don't pay anything extra for them. They are designed to provide basic support for groups who had no other source of income. I respectfully beg to differ - all situations are different. In my family's c...
by Professor Emeritus
Fri Nov 28, 2014 3:03 am
 
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefit - Help!
Replies: 5
Views: 606

Re: SS Survivor Benefit - Help!

Spousal benefits and survivor benefits are "welfare" components of social security. You don't pay anything extra for them. They are designed to provide basic support for groups who had no other source of income.
by Professor Emeritus
Fri Nov 28, 2014 2:34 am
 
Forum: Personal Finance (Not Investing)
Topic: SS Survivor Benefit - Help!
Replies: 5
Views: 606

Re: Filing homeowners Insurance claim - Sprinklers went off

If you set off a sprinkler system you saved the house. Sprinklers are very good at that.
by Professor Emeritus
Fri Nov 28, 2014 2:25 am
 
Forum: Personal Consumer Issues
Topic: Filing homeowners Insurance claim - Sprinklers went off
Replies: 13
Views: 1378

Re: Bogle says treat soc sec & pensions as like fixed assets

But isn't another important difference between fixed income such as bonds and capitalized pensions and ss the fact that the capitalized ss and pension cannot be sold and used to reallocate to equities during a severe bear market? This is only important to spreadsheet zombies who cannot understand t...
by Professor Emeritus
Thu Nov 27, 2014 7:47 pm
 
Forum: Investing - Theory, News & General
Topic: Count Capitalized Pension Benefits Cash/Bonds for Portfolio?
Replies: 31
Views: 4106

Re: Ever wake up one day, and your whole life has changed? (

1) You don't list any insurance and secure storage cost for the firearms and gold
2) do you value the firearms at their current net auction value ? Most collectors vastly over value such collections

More later , happy thanksgiving and thank you for your service .
by Professor Emeritus
Thu Nov 27, 2014 2:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: [woke up] and whole life has changed. [disabled vet]
Replies: 26
Views: 6780

Re: Currency exchanging advice for traveler

If you are spending good clean currency it makes no difference. you get the current exchange rate. Or are you market timing currency? Do not take old USD anywhere. And If you are entering or leaving the USA do remember to file a report if you take more than 10 k .http://www.fincen.gov/forms/files/fi...
by Professor Emeritus
Thu Nov 27, 2014 7:18 am
 
Forum: Personal Consumer Issues
Topic: Currency exchanging advice for traveler
Replies: 1
Views: 456

Re: When do you feel comfortable financially to have kids?

obgyn65 wrote:Although I have always felt comfortable financially to have kids, I have never had any.

:happy I have an Ob/gyn friend who got pregnant when she though she couldn't :happy (14 years of infertility)

You never know!
by Professor Emeritus
Thu Nov 27, 2014 5:51 am
 
Forum: Personal Consumer Issues
Topic: When do you feel comfortable financially to have kids?
Replies: 59
Views: 4325

Re: How To Invest Your Emergency Fund?

What wrong with a credit card for tiers 1,2,3? Nothing to invest and you have 30 days to pay it off with no interest charged to you. In that amount of time you can sell some of your tier 4 holdings. It is pretty rare for any business to not take a CC these days, but if you are really worried, put $...
by Professor Emeritus
Thu Nov 27, 2014 5:45 am
 
Forum: Investing - Help with Personal Investments
Topic: How To Invest Your Emergency Fund?
Replies: 97
Views: 14181

Re: How To Invest Your Emergency Fund?

Tier one They tow your car, you lose your wallet and you are locked out of your house. What do you do? I walk up to bank of America and take out cash to pay the locksmith and guy who towed the car. Without your wallet? How do u get to the bank? . I believe I wrote "I walk" The advantage o...
by Professor Emeritus
Thu Nov 27, 2014 5:41 am
 
Forum: Investing - Help with Personal Investments
Topic: How To Invest Your Emergency Fund?
Replies: 97
Views: 14181

Re: How To Invest Your Emergency Fund?

Tier one They tow your car, you lose your wallet and you are locked out of your house. What do you do? I walk up to bank of America and take out cash to pay the locksmith and guy who towed the car. Without your wallet? Absolutely , They actually know me at my branch. Away from home it takes a bank ...
by Professor Emeritus
Thu Nov 27, 2014 5:36 am
 
Forum: Investing - Help with Personal Investments
Topic: How To Invest Your Emergency Fund?
Replies: 97
Views: 14181

Re: How to find refundable airfare or open ticket ?

May I suggest you take your question to http://www.flyertalk.com/ which is the boglehead.org of air travel ? There are real experts there. If you wish to declare yourself a "newbie" and ask the gurus for advice you can always humorously describe yourself as a "Kettle" (Kettles ar...
by Professor Emeritus
Thu Nov 27, 2014 5:28 am
 
Forum: Personal Consumer Issues
Topic: How to find refundable airfare or open ticket ?
Replies: 17
Views: 1467

Re: When do you feel comfortable financially to have kids?

Interestingly my wife's family has a multi generational tradition of grandparents helping with children financially so that young people would not put off having children. It dated back to buying farms in the 1860s. I was assured that there would be a college fund for any children we had. Biology di...
by Professor Emeritus
Thu Nov 27, 2014 12:24 am
 
Forum: Personal Consumer Issues
Topic: When do you feel comfortable financially to have kids?
Replies: 59
Views: 4325

Re: Private college counselor

Thank you all, very informative to me. I don't consider my self as an helicopter parent, if so I would have asked this question when he Was a freshman. May I know what you all think other top non ivy schools are for non engineering students. Would like to avoid large schools Are there any differenc...
by Professor Emeritus
Wed Nov 26, 2014 6:29 pm
 
Forum: Personal Consumer Issues
Topic: Private college counselor
Replies: 76
Views: 4553

Re: Private college counselor

I am afraid I hear the loud noisy sound of a helicopter parent. I'm pushing 40 years in academia. At top universities, for students admitted on "merit", (about 50%) schools care about only two things: talent and dedication. Can they do the work and will they do the work? All the indicators...
by Professor Emeritus
Wed Nov 26, 2014 5:50 pm
 
Forum: Personal Consumer Issues
Topic: Private college counselor
Replies: 76
Views: 4553

Re: Clash of the Titans: Traditional or Roth?

Unfortunately, by rule here any discussion of changes in tax rates is political and prohibited. Without such discussion any such Roth debate is a waste of time.
by Professor Emeritus
Wed Nov 26, 2014 5:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Clash of the Titans: Traditional or Roth?
Replies: 12
Views: 1129

Re: Livesoft can you explain how u can do this?

ralph124cf wrote:First, have no other income that year. Second, only convert up to the top of the zero tax bracket.

Ralph


My neighbor claims his 25 year old has the same strategy. No job no income no taxes. says the kid is a tax genius
by Professor Emeritus
Wed Nov 26, 2014 2:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Livesoft can you explain how u can do this?
Replies: 47
Views: 4349

Re: Paying my parents a salary not to touch their nest egg

Your plan makes no financial or familial sense that I can see. I would start by buying LTC insurance for them. Otherwise put the same money in trust for your kids, their grandchildren. If they need help buy an apartment for them to live in. This may be bad advice today. Read the other recent posts ...
by Professor Emeritus
Wed Nov 26, 2014 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4433

Re: Why it's important to understand risks and have discipli

Nice article but like so many others it conflates risk and uncertainty . They are not the same thing and demand different analyses. You are dealing with risk when you are sampling from a known probability distribution. (CF the poker players on Espn) When you don't know the shape of the underlying pr...
by Professor Emeritus
Wed Nov 26, 2014 1:48 pm
 
Forum: Investing - Theory, News & General
Topic: Why it's important to understand risks and have discipline
Replies: 11
Views: 1354

Re: Being woken up by neighbors above me

http://www.youtube.com/watch?v=hIWBl7HE4Ko Sorry about the add but will worth the 15 second wait One Man's Ceiling is Another Man's Floor Lyrics from There Goes Rhymin' Simon "One Man's Ceiling is Another Man's Floor" is track #5 on the album There Goes Rhymin' Simon. It was written by Sim...
by Professor Emeritus
Wed Nov 26, 2014 1:07 pm
 
Forum: Personal Consumer Issues
Topic: Being woken up by neighbors above me
Replies: 79
Views: 6294

Re: Paying my parents a salary not to touch their nest egg

Your plan makes no financial or familial sense that I can see. I would start by buying LTC insurance for them. Otherwise put the same money in trust for your kids, their grandchildren. If they need help buy an apartment for them to live in.
by Professor Emeritus
Tue Nov 25, 2014 8:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4433

Re: What do you splurge on?

I got some scary medical news. Immediately said I want to see the best Dr on the planet. The recommended Dr is out of network. I said book it anyway. Today I am traveling out of town so that an out of network Dr can perform surgery at an out of network hospital. This is the best way to splurge. Bes...
by Professor Emeritus
Tue Nov 25, 2014 9:55 am
 
Forum: Personal Consumer Issues
Topic: What do you splurge on?
Replies: 231
Views: 19399

Re: Will stocks beat bonds over next 30 years?

"Uncertainty only exists in the human mind - its not intrinsic to the physical world*. MB *ignoring quantum mechanics, if that is allowed! Investments don't exist in the physical world. As just one example property rights and ownership are not part of the physical world. An ounce of gold is ph...
by Professor Emeritus
Tue Nov 25, 2014 5:45 am
 
Forum: Investing - Theory, News & General
Topic: Will stocks beat bonds over next 30 years?
Replies: 65
Views: 5849

Re: Create new account in case mom outlives assets--How to?

I'm looking for guidance on how I might set up an account (probably a brokerage account with post-tax money) where I make annual contributions, and it serves as a pool of living expenses money in the future if my mom outlives her assets (which seems pretty likely). Let's say hypothetically I deposi...
by Professor Emeritus
Mon Nov 24, 2014 7:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Create new account in case mom outlives assets--How to?
Replies: 15
Views: 1374

Re: Social Security 62 vs 66

No matter when one starts payment SS is going to give them the same money actuarially. This is only true under a very specific set of circumstances. For most individuals, either claiming early or late will be actuarially advantageous due to the presence of survivor benefits or due to real interest ...
by Professor Emeritus
Sun Nov 23, 2014 4:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Social Security 62 vs 66
Replies: 58
Views: 5522

Re: What percent "Boglehead" are you?

just frank wrote:I am anti-bond.


Sure but in the Movies you always lose !!!!
by Professor Emeritus
Sat Nov 22, 2014 1:32 pm
 
Forum: Investing - Theory, News & General
Topic: What percent "Boglehead" are you?
Replies: 120
Views: 7615

Re: What percent "Boglehead" are you?

I think the general conclusion by reading this thread is that most people talk the talk, but only walk the walk something like 75%. Just like people brag about their stock pick gains, but never disclose their losses, I imagine that bogle heads brag about their bogleheadness and either forget or don...
by Professor Emeritus
Sat Nov 22, 2014 1:31 pm
 
Forum: Investing - Theory, News & General
Topic: What percent "Boglehead" are you?
Replies: 120
Views: 7615

Re: What percent "Boglehead" are you?

TradingPlaces wrote:
Cosmo wrote:I am 50% Chech, 32.5% Boglehead, 12.5% Irish, 4% German and 1% Stupid.

Cosmo


Are you sure you are 50% Chech, and not Czech?



I am assuming he means from Chechnya
by Professor Emeritus
Sat Nov 22, 2014 1:27 pm
 
Forum: Investing - Theory, News & General
Topic: What percent "Boglehead" are you?
Replies: 120
Views: 7615

Re: Diversification among Bonds?

I have actually wrestled with this as I shifted my holdings out of Wellesley to VTSAX.
to keep risk levels the same we converted the appropriate stocks to bonds in the TSP.

We chose a 50/50 division between F and G funds for the bond component.
by Professor Emeritus
Sat Nov 22, 2014 11:29 am
 
Forum: Investing - Theory, News & General
Topic: Diversification among Bonds?
Replies: 32
Views: 3140

Re: Will stocks beat bonds over next 30 years?

I was trying to avoid using the term, but here we go, since you've asked: Garbage In, Garbage Out. We use the term garbage in -Gospel out People will, in fact accept the most amazing garbage if you tell them there is a computer model supporting it. I gave a talk at NIST in 1991 called Mathematical ...
by Professor Emeritus
Sat Nov 22, 2014 10:18 am
 
Forum: Investing - Theory, News & General
Topic: Will stocks beat bonds over next 30 years?
Replies: 65
Views: 5849

Re: Home equity loan as an asset?

A loan can only be considered an asset by the party that is lending the money and collecting interest payments. Borrowed money is not an asset.. Actually it is an asset but the debt means that it does not improve net worth. No, actually, the cash owed back to the lender is liabilitiy. Even on a net...
by Professor Emeritus
Sat Nov 22, 2014 8:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Home equity loan as an asset?
Replies: 46
Views: 3138

Re: Home equity loan as an asset?

A loan can only be considered an asset by the party that is lending the money and collecting interest payments. Borrowed money is not an asset.. Actually it is an asset but the debt means that it does not improve net worth. No, actually, the cash owed back to the lender is liabilitiy. Even on a net...
by Professor Emeritus
Sat Nov 22, 2014 5:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Home equity loan as an asset?
Replies: 46
Views: 3138

Re: Home equity loan as an asset?

LB0483 wrote:A loan can only be considered an asset by the party that is lending the money and collecting interest payments. Borrowed money is not an asset..


Actually it is an asset but the debt means that it does not improve net worth.
by Professor Emeritus
Sat Nov 22, 2014 5:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Home equity loan as an asset?
Replies: 46
Views: 3138

Re: Thinking about retiring next year

You are a widow with a minor son? Does the son get SS? or was your deceased husband not the father?

also a 15 k car loan is a red flag that you are cutting things fine.
by Professor Emeritus
Sat Nov 22, 2014 4:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Thinking about retiring next year
Replies: 16
Views: 2190

Re: portfolio suggestions for the truly aged.

Retired people often normally an asymmetrical risk profile. Their basic needs do not change . For us,for example, the benefits of a dollar upside are not as great as the cost of a dollar downside. Upside benefits are not worth downside risk. Equity by definition is priced as a symmetrical risk. The ...
by Professor Emeritus
Sat Nov 22, 2014 4:41 am
 
Forum: Investing - Help with Personal Investments
Topic: portfolio suggestions for the truly aged.
Replies: 20
Views: 2270
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