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Re: Hw many credit cards to own?

1) Costco amex (used at costco and for electronics and other warranty type 2) my chase card 3)dw chase card (need both cards to maintain travel status) 95 % of all charges go on these cards 4) Capital one for foreign currency transactions plus Bank of Scotland debit card with chip and pin BOA debit ...
by Professor Emeritus
Tue Jul 22, 2014 2:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hw many credit cards to own?
Replies: 58
Views: 2786

Re: What to do in a market correction

CORRECTION: A reverse movement, usually negative, of at least 10% in a stock, bond, commodity or index [i] to adjust for an overvaluation. Corrections are generally temporary price declines interrupting an uptrend in the market or an asset. A correction has a shorter duration than a bear market or ...
by Professor Emeritus
Tue Jul 22, 2014 4:39 am
 
Forum: Investing - Theory, News & General
Topic: What to do in a market correction
Replies: 32
Views: 2924

Re: Insurance policies questions

He didn't say these were life insurance policies. Suppose one of them is a variable annuity with a mortality expenses or whatever they are called held in an IRA? There are lots of possibilities. hm.. I assumed the 2nd policy was also a life insurance policy. but I have no idea. the lady on the phon...
by Professor Emeritus
Mon Jul 21, 2014 11:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Insurance policies questions
Replies: 7
Views: 538

Re: Anyone attend Worcester Polytechnic Institute

I know I wouldn't hire a fresh grad whose major was Engineering Management. What is she going to manage? I'd rather hire a mechanical engineer and send him/her to get their masters in engineering management once they prove their worth. FWIW IMHO that is the approach that GM used that led to the ign...
by Professor Emeritus
Mon Jul 21, 2014 10:07 pm
 
Forum: Personal Consumer Issues
Topic: Anyone attend Worcester Polytechnic Institute
Replies: 42
Views: 1900

Re: What to do in a market correction

What, exactly, is a market correction? The traditional definition is a drop > 10% but <20% (which would be a "bear market"). The drop in 2011 was interesting because it was a "bear market" if you look at intraday prices but only a "correction" if you went by close pric...
by Professor Emeritus
Mon Jul 21, 2014 1:38 am
 
Forum: Investing - Theory, News & General
Topic: What to do in a market correction
Replies: 32
Views: 2924

Re: What to do in a market correction

livesoft wrote:I'm going to add more penguin to my asset allocation in the next market correction.


Is that due to prices "going south"?
by Professor Emeritus
Mon Jul 21, 2014 1:37 am
 
Forum: Investing - Theory, News & General
Topic: What to do in a market correction
Replies: 32
Views: 2924

Re: Anyone attend Worcester Polytechnic Institute

Your daughter can get a part-time job during the school year, too. Is she working this summer? Retail? Food service? Life guarding? For free? Something! She is working as a union stagehand [my 2nd career to pay for college] setting up and running rock shows in major venues on Long Island. Makes gre...
by Professor Emeritus
Sun Jul 20, 2014 8:55 pm
 
Forum: Personal Consumer Issues
Topic: Anyone attend Worcester Polytechnic Institute
Replies: 42
Views: 1900

Re: how often do you look at your account

I look every day. I do something on average 3 x per year.
by Professor Emeritus
Sun Jul 20, 2014 8:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: how often do you look at your account
Replies: 70
Views: 3492

Re: Anyone attend Worcester Polytechnic Institute

WPI undergraduate is a first class engineering education. We take them as graduate students without hesitation. All student engineers should hound faculty and the placement office for job leads. You go see someone every day until you start getting interviews. Jobs don't just fall out of trees. Emplo...
by Professor Emeritus
Sun Jul 20, 2014 8:01 pm
 
Forum: Personal Consumer Issues
Topic: Anyone attend Worcester Polytechnic Institute
Replies: 42
Views: 1900

Re: Ways to lose money and destroy personal wealth by invest

Using Whole Life Insurance in any form as an investment. Where are you getting this from? This is not a fact. You are correct, He should have phrased it as " not realizing that whole life is the lousiest investment you can make" . I agree it is technically an investment in the same way th...
by Professor Emeritus
Sun Jul 20, 2014 12:17 pm
 
Forum: Investing - Theory, News & General
Topic: Ways to lose money and destroy personal wealth by investing
Replies: 81
Views: 9125

Re: NY Times Article - a case for index investing

A new study by S.&P. Dow Jones Indices has some fresh and startling answers. The study, “Does Past Performance Matter? The Persistence Scorecard,” provides new arguments for investing in passively managed index funds — those that merely try to match market returns, not beat them. New arguments?...
by Professor Emeritus
Sun Jul 20, 2014 10:26 am
 
Forum: Investing - Theory, News & General
Topic: NY Times Article - a case for index investing
Replies: 23
Views: 2707

Re: NY Times Article - a case for index investing

The article does not even ask if the 2 firms could be due to pure chance. Back of the envelope says pure chance is 1 / 4096

not far off from 1/1500
by Professor Emeritus
Sun Jul 20, 2014 9:57 am
 
Forum: Investing - Theory, News & General
Topic: NY Times Article - a case for index investing
Replies: 23
Views: 2707

Re: Ways to lose money and destroy personal wealth by invest

Using Whole Life Insurance in any form as an investment. Where are you getting this from? This is not a fact. You are correct, He should have phrased it as " not realizing that whole life is the lousiest investment you can make" . I agree it is technically an investment in the same way th...
by Professor Emeritus
Sat Jul 19, 2014 11:43 pm
 
Forum: Investing - Theory, News & General
Topic: Ways to lose money and destroy personal wealth by investing
Replies: 81
Views: 9125

Re: Ways to lose money and destroy personal wealth by invest

1) Marrying the wrong person.


2) Using the fantasy word "home equity". A house is an asset, a mortgage is a loan. The buy rent decision on houses, cars seond homes is always complicated but the loan has nothing to do with the case.
by Professor Emeritus
Sat Jul 19, 2014 2:38 pm
 
Forum: Investing - Theory, News & General
Topic: Ways to lose money and destroy personal wealth by investing
Replies: 81
Views: 9125

Re: Market Timing vs. Market Opportunity

Thank you all for your input. I realize now that asking a market timing question on this board is akin to preaching atheism in a Baptist church. I have since decided to use most of my retirement money to open an ostrich farm in Arizona. That market has been down so long now it's bound to bounce bac...
by Professor Emeritus
Sat Jul 19, 2014 11:01 am
 
Forum: Investing - Theory, News & General
Topic: Market Timing vs. Market Opportunity
Replies: 46
Views: 2866

Re: If you own a car, do you have a car payment?

I have owned around 55 cars since 1965, none of them were purchased with borrowed $$. :happy First purchase, in 1965, was a 1960 Renault Dauphine, 3 speed, 32 horsepower, and would hit 65 mph with a good tail wind, $200. Most recent purchase, in 2012, was a 2009 Jetta Sportswagen (2.0 Turbo), $15k,...
by Professor Emeritus
Fri Jul 18, 2014 10:39 am
 
Forum: Personal Consumer Issues
Topic: If you own a car, do you have a car payment?
Replies: 103
Views: 5580

Re: Hospital bill negotiation

Insured, bill is not past due date. Insurance Company pays 20% until I hit max out of pocket. The only group I can negotiate with is Hospital. Size of bill is 1300 for one bill and 900 for another (2 separate visits). Keep the good ideas coming! What is there to negotiate? Why do you want to negoti...
by Professor Emeritus
Wed Jul 16, 2014 10:20 am
 
Forum: Personal Consumer Issues
Topic: Hospital bill negotiation
Replies: 48
Views: 3876

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

The secured creditor gets exactly what they would get in a chapter 7 To clarify for the OP, notwithstanding this, it's still a bad idea to pay off the car because you would go from being a guarantor of a fully secured debt to being an unsecured creditor in the bankruptcy. You might be better not sp...
by Professor Emeritus
Tue Jul 15, 2014 10:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7178

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Paying off the loan is a bad idea given the trustee can declare it a preferential payment (see 11 USC section 547) which, in effect, takes your payoff away and disperses it to other creditors. This is why its important that the loan is secured by the car. The secured loan would be paid off before a...
by Professor Emeritus
Tue Jul 15, 2014 9:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7178

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Paying off the loan is a bad idea given the trustee can declare it a preferential payment (see 11 USC section 547) which, in effect, takes your payoff away and disperses it to other creditors. This is why its important that the loan is secured by the car. The secured loan would be paid off before a...
by Professor Emeritus
Tue Jul 15, 2014 7:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7178

Re: A question for the Bogleladies or those who can consult

First let me say thank you to all and note that I got a number of PM. I noted sscritics willingness to do some search work and take one for the team. +1 I perhaps should have noted that DW is :D "thriftier " than the average Boglehead :D and perhaps needed some encouragement that at least ...
by Professor Emeritus
Tue Jul 15, 2014 5:02 pm
 
Forum: Personal Consumer Issues
Topic: A question for the Bogleladies or those who can consult one
Replies: 65
Views: 4706

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

For completeness, here's a definition of clawback: Clawback (Wikipedia) I believe this is the relevant usage as applied in this thread: Bankruptcy Clawbacks of Preferential & Fraudulent Transfers (I'm not a lawyer.) If you pay back preferred creditors or transfer property out of your name prior...
by Professor Emeritus
Tue Jul 15, 2014 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7178

Re: What To Do During A Correction In Stocks?

The traditional answer, which I agree with, is, last part first: B) during a correction in stocks, do nothing. I strongly disagree. I always have a a good cappuccino and re balance DW's earrings. I check the humming bird feeder and look in my wallet to assure myself the $25 is still there. What's a...
by Professor Emeritus
Tue Jul 15, 2014 3:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do During A Correction In Stocks?
Replies: 31
Views: 3613

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

My friend is a nice professional guy who got into this big medical/legal bill which he would not be able to possible pay ever and so his lawyer suggested filing bankruptcy.. Friend was nice to tell me this all and also told that he would take care of loan before filing bankruptcy. It's unfortunate ...
by Professor Emeritus
Tue Jul 15, 2014 3:29 am
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7178

Re: Help a guy with a pension and a 457 plan

If your numbers are correct your pension is worth far more than your non cash investment portfolio. My estimate is close to 2 million dollars. Your human capital is likewise impressive, since a state pension is normally a fraction of salaried income. You own a house and you have prepaid much of your...
by Professor Emeritus
Mon Jul 14, 2014 5:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help a guy with a pension and a 457 plan
Replies: 6
Views: 555

A question for the Bogleladies or those who can consult one

The discussion on Purses has emboldened me. Without causing the slightest snickering or snide comments, I am interested in getting very very nice underwear for my DW. It does not appear to be as easy as buying Rockport or North face on amazon.com. She is a lifelong geek, never wears makeup, and wear...
by Professor Emeritus
Mon Jul 14, 2014 3:41 pm
 
Forum: Personal Consumer Issues
Topic: A question for the Bogleladies or those who can consult one
Replies: 65
Views: 4706

Re: Anyone here flip houses?

tetractys wrote:My cousin fixes and flips houses. I only fix and flip pancakes and omelets. -- Tet


When you flip a house it tends to fall roof side down. Not good
by Professor Emeritus
Mon Jul 14, 2014 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone here flip houses?
Replies: 39
Views: 4256

Re: SPIA pricing and risk beyond 30 years

I have used research in the past that indicates that the best market annuities are within 2-3% of being "fairly priced" on a group basis. Typical case was a company terminating a pension plan and buying a lot of annuities. Individual policy sales do show some adverse selection. I was vice ...
by Professor Emeritus
Mon Jul 14, 2014 2:10 pm
 
Forum: Investing - Theory, News & General
Topic: SPIA pricing and risk beyond 30 years
Replies: 5
Views: 1157

Re: Thoughts on 100% stock allocation for 33 year old

I've been at 100% stock since I started investing in my early 20s. I lost 40% in '08 but stayed the course with not even a minute of hesitation. The way I look at it, it's not a real loss until I sell. But now as we are getting older we've started our glide path and recently moved to 95/5. My co-wo...
by Professor Emeritus
Mon Jul 14, 2014 1:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Thoughts on 100% stock allocation for 33 year old
Replies: 85
Views: 6117

Re: Saving for large house down payment in 6 to 7 years

240 k down payment WOW must be one heck of a house. Not if the down payment is 100%. What about 80% or even as little as 50%? I put $350k down on my house. Do you know what it cost? Answer: Maybe it cost $350k (100% down) and maybe it cost $7 million (5% down). WOW for the $7 million, not so WOW fo...
by Professor Emeritus
Mon Jul 14, 2014 7:58 am
 
Forum: Investing - Help with Personal Investments
Topic: Saving for large house down payment in 6 to 7 years
Replies: 5
Views: 798

Re: Authorized User on CC

I am confused. Is your dad mentally incompetent? Hi Calm Man, My Dad somtimes takes medications. That's when the mistakes occur. He has authorized me to be an authorized user on his credit card, but up to now, I've been able to work in the background...mainly just calling on his behalf to ask quest...
by Professor Emeritus
Mon Jul 14, 2014 7:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Authorized User on CC
Replies: 10
Views: 1026

Re: Assisted Living Residence and Care Agreement - Questions

My parents moved into an Erickson community independent living in Md in 2001. I tried to review the legal documents. for them. They were impenetrably vague on key terms. I consulted with two other lawyers who agreed that they were incomprehensible. The primary issue was the security for the refund o...
by Professor Emeritus
Mon Jul 14, 2014 3:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Assisted Living Residence and Care Agreement - Questions
Replies: 26
Views: 2412

Re: Saving for large house down payment in 6 to 7 years

We need to save a large amount for house down payment ($240,000) in 6 to 7 year horizon. We have maxed out all of our tax-advantaged accounts and have put aside 6 months of emergency fund. Currently we have $150,000 as the base for the saving/investing. This is our thinking on how to invest for sho...
by Professor Emeritus
Sun Jul 13, 2014 10:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Saving for large house down payment in 6 to 7 years
Replies: 5
Views: 798

Re: Thoughts on 100% stock allocation for 33 year old

Professor Emeritus wrote: As I have said previously talking about portfolio asset allocation is a total complete waste of time unless you analyze your entire financial structure. What are your non portfolio assets and liabilities? E.g. Virtually everyone in T SP ALSO has a FERS DB pension. This is ...
by Professor Emeritus
Sun Jul 13, 2014 10:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Thoughts on 100% stock allocation for 33 year old
Replies: 85
Views: 6117

Re: Safe withdrawal rate > 4% if no heirs & ok to deplete ca

SDA (safe deflection angle) studies try to tell you how far you can bend a potato chip. They are quite interesting--particularly when they discovered in the 1990s that you can only bend potato chips about half as far as everyone had thought. But they are limited. The strength of individual potato c...
by Professor Emeritus
Sun Jul 13, 2014 8:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Safe withdrawal rate > 4% if no heirs & ok to deplete captl?
Replies: 32
Views: 3073

Re: Safe withdrawal rate > 4% if no heirs & ok to deplete ca

Chips aside, thanks to all for the info, insight, and commentary / analysis. :-) I'm about two decades out from traditional retirement age. Quite a way to go, so I've not mentioned specifics. Just wanting to source Bogleheads for various strategies and tactics re: the concept of a Safe Withdrawal R...
by Professor Emeritus
Sun Jul 13, 2014 8:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Safe withdrawal rate > 4% if no heirs & ok to deplete captl?
Replies: 32
Views: 3073

Re: Knowledge gaps + anxiety = shame; gender and investing

Gender studies scholars have tried for years to answer very basic questions about gender. But It is a very primitive field. It is almost impossible to separate biological from cultural inputs. But I have actually used Bogle's work to show the importance of evidence that can be separated from gender ...
by Professor Emeritus
Sun Jul 13, 2014 7:32 pm
 
Forum: Investing - Theory, News & General
Topic: Knowledge gaps + anxiety = shame; gender and investing
Replies: 74
Views: 4746

Re: Thoughts on 100% stock allocation for 33 year old

As I have said previously talking about portfolio asset allocation is a total complete waste of time unless you analyze your entire financial structure. What are your non portfolio assets and liabilities? E.g. Virtually everyone in T SP ALSO has a FERS DB pension. My DW's FERS pension and social sec...
by Professor Emeritus
Sun Jul 13, 2014 7:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Thoughts on 100% stock allocation for 33 year old
Replies: 85
Views: 6117

Re: Authorized User on CC

Workinghard wrote:I'm an authorized user on my dad's account and when there were fraudulent charges, I couldn't do anything about it until he gave permission for them to talk to me.


You can use a power of attorney specifically designed for this purpose. My daughters have them
by Professor Emeritus
Sun Jul 13, 2014 7:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Authorized User on CC
Replies: 10
Views: 1026

Re: Have you quit your job because of your boss?

Hello, and thank you for all the responses. I did forget to write one important part and that is I'm thinking about quitting for couple years, be a stay at home dad for my 10 year old daughter, getting surgery done (shoulder and back) and then going back to work, hopefully within the same agency (c...
by Professor Emeritus
Sun Jul 13, 2014 2:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you quit your job because of your boss?
Replies: 66
Views: 7048

Re: mom wants to "sell" me her condo for estate planning

You should take the house. Maybe have her sell it to you for $1 or something. My father in law's mother just had to sell her house and all her assets to pay for her nursing home costs and it has essentially spent all of her assets down to nothing included what was a paid off home. If the home was i...
by Professor Emeritus
Sun Jul 13, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: mom wants to "sell" me her condo for estate planning
Replies: 23
Views: 2989

Re: How much do you spend on your hobby annually?

We travel and do nature photography. More lifestyle than hobby DW's disability makes some costs higher Cost of transport (plane and local) and housing on trips averages $450 a day . In 2013 We spent 45 K on a hundred days travel. We use "apartments" and so usually cook and we general ignor...
by Professor Emeritus
Sun Jul 13, 2014 10:30 am
 
Forum: Personal Consumer Issues
Topic: How much do you spend on your hobby annually?
Replies: 77
Views: 6853

Re: A Big Thank You After Visiting Accountant

In 1977 I was a brand new member of the faculty in Consumer Economics (I taught consumer safety law there before I moved to Engineering) and was one of the last with the option of the old DB or the DC option. we had "financial advisors" tell us how wonderful the DC system was. I ran the nu...
by Professor Emeritus
Sun Jul 13, 2014 10:14 am
 
Forum: Local Chapters and Bogleheads Community
Topic: A Big Thank You After Visiting Accountant
Replies: 17
Views: 2461

Re: Safe withdrawal rate > 4% if no heirs & ok to deplete ca

That is what annuities are for

Maximise income during your lifetime.


Unless of you sure you are a "Master of the universe" who knows beyond a shadow of a doubt that you can time and beat the market.

Deferring SS is of course the cheapest annuity you can buy.
by Professor Emeritus
Sun Jul 13, 2014 9:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Safe withdrawal rate > 4% if no heirs & ok to deplete captl?
Replies: 32
Views: 3073

Re: Travel Converters/Adapters

Some US extension cords have a 2-prong male plug, but the 2-prog female bits allow one to plug in a 3-prong male and have the ground just stick out exposed over the edge. I use this as a teaching example for Engineers about how people kill themselves with grounded equipment. Do not do this. Especia...
by Professor Emeritus
Sun Jul 13, 2014 9:12 am
 
Forum: Personal Consumer Issues
Topic: Travel Converters/Adapters
Replies: 11
Views: 799

Re: mom wants to "sell" me her condo for estate planning

You should take the house. Maybe have her sell it to you for $1 or something. My father in law's mother just had to sell her house and all her assets to pay for her nursing home costs and it has essentially spent all of her assets down to nothing included what was a paid off home. If the home was i...
by Professor Emeritus
Sun Jul 13, 2014 9:02 am
 
Forum: Personal Finance (Not Investing)
Topic: mom wants to "sell" me her condo for estate planning
Replies: 23
Views: 2989

Re: Gold, Silver, Copper

That being said, gold is very useful for moving large amounts of money outside of the banking system. The only vehicles that are more dense are gems and art, but they are much less liquid. So IMO, there will always be a demand from that market. of course while you are moving it a bullet in the head...
by Professor Emeritus
Sat Jul 12, 2014 5:01 pm
 
Forum: Investing - Theory, News & General
Topic: Gold, Silver, Copper
Replies: 41
Views: 3338

Re: Ditch car and commute to work in 250cc scooter in Raleig

But then again you can't put DEATH on a spreadsheet so perhaps you can just ignore it. Sure you can - add the cost for additional life insurance to offset the risk to your family. :idea: Life Insurance and death are not the same thing to the person who dies. :idea: :annoyed It is actually depressin...
by Professor Emeritus
Sat Jul 12, 2014 10:10 am
 
Forum: Personal Consumer Issues
Topic: Ditch car and commute to work in 250cc scooter in Raleigh?
Replies: 68
Views: 4264

Re: Ditch car and commute to work in 250cc scooter in Raleig

Per vehicle mile traveled, motorcyclists have a 34-fold higher risk of death in a crash than people driving other types of vehicles.(1) And while 20 percent of passenger vehicle crashes lead to injury of death, as many as 80% of motorcycle crashes cause significant morbidity or death.(2) Even more l...
by Professor Emeritus
Sat Jul 12, 2014 8:04 am
 
Forum: Personal Consumer Issues
Topic: Ditch car and commute to work in 250cc scooter in Raleigh?
Replies: 68
Views: 4264
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