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Re: It's a good day to adhere to your IPS

sailfish2 wrote:I am somewhat of a newbie - what's an IPS?


Investment Policy Statement. http://www.bogleheads.org/wiki/Investme ... _statement

If you're new, I recommend checking out the wiki here: http://www.bogleheads.org/wiki/Main_Page
by danwhite77
Wed Oct 15, 2014 3:48 pm
 
Forum: Investing - Theory, News & General
Topic: It's a good day to adhere to your IPS
Replies: 19
Views: 1766

Re: It's a good day to adhere to your IPS

I think it's just a reminder--every day is a good day to adhere to your IPS. That's right, Paul, and it's also a response to the number of silly threads we've seen lately with people being a bit braggy about whatever asset class they favor. For example: Bonds: http://www.bogleheads.org/forum/viewto...
by danwhite77
Wed Oct 15, 2014 1:44 pm
 
Forum: Investing - Theory, News & General
Topic: It's a good day to adhere to your IPS
Replies: 19
Views: 1766

It's a good day to adhere to your IPS

Just like every other day of the year, regardless of what the market does.

Sure, it's not as fun as "It's a good day to be heavy in [insert whatever is up today]," but are we not Bogleheads?
by danwhite77
Wed Oct 15, 2014 10:33 am
 
Forum: Investing - Theory, News & General
Topic: It's a good day to adhere to your IPS
Replies: 19
Views: 1766

Re: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rat

There are a lot of factors that go into buying a house and interest rates are only one of the factors. I am a big Buffett fan but he's not always right. I think the quote above is what he doesn't understand. The U.S. population's opinion of real estate and their own job security has been altered by...
by danwhite77
Fri Oct 10, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rates
Replies: 77
Views: 8734

Re: When people put all their eggs in the wrong basket

Even a Vanguard actively-managed fund got caught up pretty severely. Vanguard Capital Value fund had 2% of its portfolio in GTAT Boggles my mind that any fund, Vanguard or otherwise, with the term "Value" in its name could have been holding GTAT. How is that a "value" company? G...
by danwhite77
Thu Oct 09, 2014 2:01 pm
 
Forum: Investing - Theory, News & General
Topic: When people put all their eggs in the wrong basket
Replies: 215
Views: 20234

Re: When people put all their eggs in the wrong basket

Since Jim Cramer has come up repeatedly in this thread, I thought you all might get a kick out of this parody article on his show:

http://www.theonion.com/articles/everyo ... -no,32346/
by danwhite77
Thu Oct 09, 2014 10:59 am
 
Forum: Investing - Theory, News & General
Topic: When people put all their eggs in the wrong basket
Replies: 215
Views: 20234

Re: Am I on Track?

First step is that you should definitely relax! :happy

Check out the wiki on retirement planning: http://www.bogleheads.org/wiki/Boglehea ... art-up_kit

For other research, here's the main wiki page: http://www.bogleheads.org/wiki/Main_Page
by danwhite77
Mon Oct 06, 2014 12:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I on Track?
Replies: 16
Views: 1563

Re: Sump Pump Running Every 8 Minutes?

I agree with Tigermoose's guess. I had the same issue, my house had a sump pump that fed into the sewer. That's definitely not code, but people do it (for multiple reasons, I'm sure) because if you're in a cold climate you can be certain the line won't freeze at any time. What you should do is deter...
by danwhite77
Mon Oct 06, 2014 12:34 pm
 
Forum: Personal Consumer Issues
Topic: Sump Pump Running Every 8 Minutes?
Replies: 18
Views: 1342

Re: Would you buy a house in cash if you had enough?

With numbers fairly close to what OP originally described I bought a house for cash two and a half years ago. So my answer and experience is that I would pay cash.
by danwhite77
Fri Oct 03, 2014 8:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house in cash if you had enough?
Replies: 59
Views: 4331

Re: Why not 100% Stocks?

danwhite77 misses the critical point, which technovelist has highlighted: you can lose money not just through behavioral errors, but because markets go down, stay down, and don't recover in the time frame you need them to recover .... There's a list of stock markets which have gone to zero... and i...
by danwhite77
Thu Oct 02, 2014 11:58 am
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 20216

Re: Why not 100% Stocks?

Thanks Dan. I think that is where I am. I probably need 5% of my portfolio liquid for next 5 years, for cash needs. The rest can be somewhat illiquid. If I don't need it for 10-15 years, then wouldn't I be better just letting it grow in equities? I can afford to wait out bear markets and can rebala...
by danwhite77
Thu Oct 02, 2014 11:03 am
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 20216

Re: Why not 100% Stocks?

I'm 100% equities now and I have been for about 10 years now. Lately we've seen a lot of these threads. We didn't see as many five years ago. Risk in my opinion is defined as the permanent loss of capital. Fundamentally there are two ways that you can permanently lose capital in investments: selling...
by danwhite77
Wed Oct 01, 2014 9:03 pm
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 20216

Re: I want to pay off my mortgage.

We need more information to advise you. That said, being debt free is great, but I would take a balanced approach. Consider paying off a large amount, but not all of the loan, in the near term and then leaving an amount you're comfortable with in Vanguard. Vanguard offers you the ability to capture ...
by danwhite77
Wed Oct 01, 2014 6:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: I want to pay off my mortgage.
Replies: 36
Views: 2682

Re: Any success stories of ppl who never made >$50,000?

This lady enjoyed some incredible luck, but here's an example for OP of someone who made very little but amassed a fortune. The folks over on Early-Retirement are discussing the story.

http://blogs.barrons.com/penta/2014/09/ ... f-buffalo/
by danwhite77
Tue Sep 16, 2014 10:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 149
Views: 10167

Re: Any success stories of ppl who never made >$50,000?

In my mind, Bogleheads isn't about numbers, it's about philosophy. The number of zeroes behind the first number really doesn't matter - it's your approach to investing that's important. I don't have my copy handy, but in Jack's book "The Little Book of Common Sense Investing" he relates th...
by danwhite77
Tue Sep 16, 2014 2:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 149
Views: 10167

Re: Quit/retire - should I do this?

3rd flaw: You haven't retired yet! :D

Now go do it!
by danwhite77
Thu Sep 11, 2014 2:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quit/retire - should I do this?
Replies: 41
Views: 3831

Re: Remove Cigarette Smoke Smell from House?

I've done it twice, so yes it can be done. Killz Max primer (maximum stain and odor protection) is your friend. Everything else needs to be carefully cleaned or removed. I recently posted on a similar thread: http://www.bogleheads.org/forum/viewtopic.php?f=11&t=141127 Nothing really to add beyon...
by danwhite77
Mon Sep 08, 2014 2:49 pm
 
Forum: Personal Consumer Issues
Topic: Remove Cigarette Smoke Smell from House?
Replies: 20
Views: 1451

Re: Buying a home with aluminum wiring?

I'm not sure if people around here are purchasing aluminum futures, but here are two facts of which I am certain. First, I have seen aluminum wiring mated to copper wiring fail and leave a molten mess inside an electrical box. That's scary. Second, my relative who has been an electrician for over 25...
by danwhite77
Wed Aug 20, 2014 11:00 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4961

Re: Buying a home with aluminum wiring?

Long story short there is no good way to mate copper and aluminum. They don't even make the best product anymore, the "copalum" product, due to liability concerns. Get a licensed electrician to come out and give you an estimate on rewiring it all. If it's all in conduit that shouldn't be t...
by danwhite77
Tue Aug 19, 2014 10:25 pm
 
Forum: Personal Consumer Issues
Topic: Buying a home with aluminum wiring?
Replies: 73
Views: 4961

Re: Berkshire Hathaway A's about to hit $200k/pps

skepticalobserver wrote:So, what’s the point in owning BRK?


As a shareholder (BRK.B) for the last decade, the point is the appreciation.
by danwhite77
Thu Aug 14, 2014 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Berkshire Hathaway A's about to hit $200k/pps
Replies: 42
Views: 2816

Re: Student Loans

Also I meant to mention that tuition inflation clocks in close to 10% a year depending on the school. This phenomenon has slowed down but if you're looking at schools charging 45k a year you can expect tuition to be in the mid to high 50s by the time you graduate.
by danwhite77
Tue Aug 12, 2014 8:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Student Loans
Replies: 32
Views: 3370

Re: Student Loans

The reason people say 200k is because tuition is just the base amount. There are numerous fees in addition, plus room, plus board. Books alone are hundreds a semester. Also remember that interest generally accrues on those loans from the moment you take them out, that is not a small sum after three ...
by danwhite77
Mon Aug 11, 2014 6:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Student Loans
Replies: 32
Views: 3370

Re: Student Loans

I plan to go to law school. Don't do it. Read every post in this blog, written by a tenured professor at the University of Colorado Law School, that lays out why going to law school today is a terrible idea: http://insidethelawschoolscam.blogspot.com/ Start with the first post here http://insidethe...
by danwhite77
Sun Aug 10, 2014 10:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Student Loans
Replies: 32
Views: 3370

Re: Insulation Question

Below is a thread I started regarding spray foam insulation. There's a lot of good discussion in the comments. We have our HVAC ductwork in the attic, unfortunately, which amplifies the loss of hot and cool air from the climate control system. I still have not decided between blow-in and spray foam....
by danwhite77
Fri Aug 08, 2014 3:59 pm
 
Forum: Personal Consumer Issues
Topic: Insulation Question
Replies: 25
Views: 2136

Re: Who or what inspired you and your investing approach?

A fantastic professor at NYU's business school named David Yermack. In one of his classes he led me to the door of indexing and even identified Vanguard by name. NYU's tuition for that year was expensive, but his advice alone has paid many dividends!
by danwhite77
Wed Aug 06, 2014 10:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Who or what inspired you and your investing approach?
Replies: 93
Views: 4634

Re: But why not 100% stock index fund?

I'm 100% equities and I have been for about a decade now. My answer is that you don't know how you'll react until a big downturn happens. I always assumed that I could stomach the Great Recession bust in equities but I didn't know that for certain until it happened. There seem to be a high number of...
by danwhite77
Tue Jul 15, 2014 10:24 am
 
Forum: Investing - Theory, News & General
Topic: But why not 100% stock index fund?
Replies: 76
Views: 7643

Re: Kitchen Remodel - Appliance Brand/Model Recommendations

We recently bought a Kitchenaid refrigerator and it makes an obnoxious intermittent grinding noise. After multiple rounds with service techs and Kitchenaid's "customer support" we were told tough luck. I would recommend staying away from Kitchenaid refrigerators because ours, at least, has...
by danwhite77
Fri Jul 04, 2014 2:27 pm
 
Forum: Personal Consumer Issues
Topic: Kitchen Remodel - Appliance Brand/Model Recommendations
Replies: 49
Views: 3993

Re: Geico? No, thank you...

We've had Geico for many years and we love it. However, we're very safe drivers without any significant risk factors (e.g., accidents, tickets, etc.). YMMV.
by danwhite77
Sat Jun 14, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Geico? No, thank you...
Replies: 49
Views: 5568

Re: Help with smoky condo sought

We moved into a condo that reeks of cigarette smoke. Airing it out this spring has helped temporarily, but the smell returns once windows are closed. The condo does appear to have been painted and cleaned before we moved in. There is a lot of wall-to-wall carpeting that looks fairly clean but may b...
by danwhite77
Sat Jun 14, 2014 10:05 am
 
Forum: Personal Consumer Issues
Topic: Help with smoky condo sought
Replies: 15
Views: 1521

Re: Engagement Ring - Diamond Help

If you want a good deal you can go with bluenile.com.. You'll probably get the most bang for you buck. +1 for Blue Nile. I bought my wife's engagement ring from them a long time ago (11 years - a long time for an etailer anyway). Best price and, as an added bonus, you don't have deal with shady jew...
by danwhite77
Fri Jun 13, 2014 11:34 am
 
Forum: Personal Consumer Issues
Topic: Engagement Ring - Diamond Help
Replies: 61
Views: 4555

Re: Am I A Moron

I keep an emergency fund slightly larger than what you've referenced at all times. I think anyone calling you a moron for having done so is showing their financial naivete. Just put the cash in the highest yield bank account you can find that's FDIC insured. Naturally, there's some great advice on a...
by danwhite77
Fri Jun 06, 2014 11:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Am I A Moron [savings account as an asset class]
Replies: 47
Views: 2871

Re: Pay off huge student loan vs Investing

Brand-new to this board and to trying to get out of debt in general. Everything I have read online so far directs me here, so here is my initial go: New job in new location has tripled income to a point where investing/taxes have to be a priority for my family (married/4 kids). Up to this point we ...
by danwhite77
Wed May 28, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay off huge student loan vs Investing
Replies: 46
Views: 3180

Re: in-laws/student loans

I'm agnostic on this boyfriend discussion, to me at the end of the day you should NOT cosign for any further loans regardless of her relationship status. If you want to help out with payments later -- at your sole discretion -- great, go ahead and do that. By cosigning a loan, you are every bit as l...
by danwhite77
Wed May 28, 2014 2:17 pm
 
Forum: Personal Consumer Issues
Topic: in-laws/student loans
Replies: 57
Views: 2564

Re: Replace Gas Guzzler with Toyota Prius Lease?

My initial thought is the benefit you're trying to achieve with a Prius is the increased MPG (and corresponding decrease in fuel expense) as compared to the "gas guzzler." You mention that you're not worried about mileage caps and overage costs. Why not? The mileage caps and overage costs ...
by danwhite77
Fri May 16, 2014 10:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Replace Gas Guzzler with Toyota Prius Lease?
Replies: 24
Views: 1978

Re: Did you tell anyone you paid off your mortgage?

My situation is a somewhat unique so I thought I'd add my story. As with many commenters here I have not told anyone absent specific questions such as "What did you do for your mortgage?" or something similar. I don't want to lie, so I'm truthful, but I don't volunteer the information exce...
by danwhite77
Wed Apr 30, 2014 3:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 158
Views: 12832

Re: Capital One 360 (Online Checking Acct)

I used to have a Cap One banking account for many years but switched over to Ally. I actually didn't switch to Ally for the higher interest rates, I switched out of frustration because I felt as though whichever Cap One banking product I used never had the highest rate. Seemingly, Cap One would adve...
by danwhite77
Tue Apr 29, 2014 10:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Capital One 360 (Online Checking Acct)
Replies: 19
Views: 2658

Re: Why Utah 529 instead of Vanguard 529?

I use the Vanguard (Nevada) plan. As someone else mentioned, 529s are constantly changing, mostly in positive ways. Utah used to have the lowest expense ratios by far while Nevada had somewhat higher ratios, particularly in the age-based options. That was not Vanguard's fault. The way these plans wo...
by danwhite77
Wed Apr 23, 2014 3:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why Utah 529 instead of Vanguard 529?
Replies: 33
Views: 3563

Re: Does Asset Allocation beat the S&P 500?

I think this is a big issue. It may be easy to tolerate a 50% loss when you have $50k in assets and just building your wealth. It's another thing to loose 50% of $1 or $2 Million. I did not get this until my net worth started increasing. That's a very good point. I discussed this very aspect of a p...
by danwhite77
Tue Apr 22, 2014 7:18 pm
 
Forum: Investing - Theory, News & General
Topic: Does Asset Allocation beat the S&P 500?
Replies: 75
Views: 6441

Re: Does Asset Allocation beat the S&P 500?

Have you at any point during this recovery introduced fixed income to your allocation? Do you plan to navigate the next bear market in 100% equities? No, I haven't changed my allocation. I plan on staying 100% in equities for the foreseeable future. I just adjust my IPS to the current market. That ...
by danwhite77
Tue Apr 22, 2014 3:34 pm
 
Forum: Investing - Theory, News & General
Topic: Does Asset Allocation beat the S&P 500?
Replies: 75
Views: 6441

Re: Does Asset Allocation beat the S&P 500?

I've been 100% equities for about a decade now. I would warn anyone considering using such an asset allocation now that it's not for the faint of heart. For this type of asset allocation to work, you have to be able to watch your account balance dive by 50% or more and not sell. That's easier said t...
by danwhite77
Tue Apr 22, 2014 2:35 pm
 
Forum: Investing - Theory, News & General
Topic: Does Asset Allocation beat the S&P 500?
Replies: 75
Views: 6441

Re: Forced job responsibility putting me in a panic

If you are fearful of public speaking, join your local Toastmasters chapter. Toastmasters is a non-profit organization dedicated to helping people overcome their fear of public speaking and making people better speakers. The meetings involve as much or as little public speaking as you want (I recomm...
by danwhite77
Tue Apr 22, 2014 11:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Forced job responsibility putting me in a panic
Replies: 32
Views: 2779

Re: New Baby Girl - What Can/Should We Do?

1. Should we open a 529 plan in Missouri (where we live), New York (where my folks live and to where we may relocate in the next year or two), or Utah? 2. With how much money should we fund the 529 right now? The only near-term expense for which I could see needing to tap our taxable Vanguard inves...
by danwhite77
Mon Apr 21, 2014 10:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Baby Girl - What Can/Should We Do?
Replies: 49
Views: 4935

Re: *poor* Bogleheads

If you make $50K/year, there isn't much to say - LBYM, max out your Roth, get the employer match at work, etc. What are you hanging out here for anyway? Head on over to http://www.reddit.com/r/frugal or similar. Hey, my ETR was 21% for 2013 (TurboTax number) but I'm subbed to /r/frugal. The LBYM ad...
by danwhite77
Fri Apr 18, 2014 12:53 pm
 
Forum: Forum Issues and Administration
Topic: *poor* Bogleheads
Replies: 78
Views: 13387

Re: IL 529 question

1) Would it make sense for me to use the IL 529 or another state plan such as Utah which I have heard is a good plan also? 2) If I use the IL 529 plan do my kids need to attend an IL college or am I able to use that plan for any college in the US? 3) If I move to another state do I transfer the 529...
by danwhite77
Sun Apr 13, 2014 11:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: IL 529 question
Replies: 4
Views: 429

Re: Stock markets in free fall?

I think that equities are safer than bonds over longer periods (about 12 years and up) ... How do you define "safe" or "safer"? My guess is that he's talking about the risk of inflation. Buffett, when discussing the performance of bonds relative to stocks, has described bonds al...
by danwhite77
Sat Apr 12, 2014 4:06 pm
 
Forum: Investing - Theory, News & General
Topic: Stock markets in free fall?
Replies: 92
Views: 7341

Re: Expensive hobbies and possessions? (B/c you can...)

Skiing. For a family of six.
by danwhite77
Thu Apr 10, 2014 11:34 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 15586

Re: Getting over huge mistakes

Be careful, if you measure your finances against the people that populate a forum dedicated to finance you will always be depressed. There's always a bigger fish. We recently had a person ask about how to manage an eight digit windfall (I assume a FB employee). Don't beat yourself up; I think that o...
by danwhite77
Thu Apr 10, 2014 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Getting over huge mistakes
Replies: 30
Views: 3776

Re: Mortgage Loans and Retirement

We had a thread on this recently, try a few forum searches. As I recall the short answer is that you should not mention retirement when seeking a mortgage because regardless of assets, banks are skittish about lending to anyone without a job. As for whether or not you should carry a mortgage into re...
by danwhite77
Thu Apr 03, 2014 9:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Loans and Retirement
Replies: 6
Views: 1609

Re: best vacuum cleaner

Our Riccar is incredible and virtually indestructible. They're expensive but worth every penny.
by danwhite77
Wed Apr 02, 2014 2:33 am
 
Forum: Personal Consumer Issues
Topic: best vacuum cleaner
Replies: 23
Views: 2063

Re: Dream Home Construction/Purchase: Need Mortgage Advice

Boy it's complicated. Two years ago I was in your situation with comparable income to (potential) debt posture. I decided not to to go in at the percentages that you (we) are describing. I went low on the house, much lower, as in 50% lower. Would I do it again? I'm not sure. I think I would try to f...
by danwhite77
Fri Mar 28, 2014 8:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dream Home Construction/Purchase: Need Mortgage Advice
Replies: 20
Views: 1792
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