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Re: Just how stringent is the fiduciary standard?

I was talking to a friend who uses a Registered Investment Advisor that has a fiduciary responsibility to act in my friend's best interest. This advisor also has an insurance license, and sold my friend and her husband a permanent life insurance policy despite the fact that they are both working pr...
by dbr
Fri Oct 31, 2014 12:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Just how stringent is the fiduciary standard?
Replies: 2
Views: 78

Re: A Little Common Core Math problem

And the use of the existing answer to find the correct one is ok, but doesn't indicate the ability to solve the problem. It does indicate a resourcefulness to use the "testing" method on the answers. One might give a great deal of credit to figuring out how to test the answers. That is wh...
by dbr
Thu Oct 30, 2014 4:41 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: A Little Common Core Math problem

Really there are a lot of ways to solve this problem that are mathematically correct. Solving simultaneous equations by elimination of variables and iteration over the set of answers are only two of the choices. The key thing in a case like this is the use of the problem to reinforce the subject ma...
by dbr
Thu Oct 30, 2014 4:29 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: A Little Common Core Math problem

Good heavens, it can be expressed as two simultaneous equations, but they are so simple that one can the method of solving "by substitution" in one's head so quickly that one might as well go straight to the one-variable formulation. There isn't any right or wrong here. One of the interes...
by dbr
Thu Oct 30, 2014 4:19 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: A Little Common Core Math problem

seems like a long-winded way to bash your YMCA teachers and 90% of the American population. Might have been a more concise way to do so? If that is meant for me, the long winded post was because someone wondered if I really meant the 90% number. As for bashing, I don't think any bashing is involved...
by dbr
Thu Oct 30, 2014 4:16 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: Prudent Investment Portfolio for 58-year Old w/20M Net W

Sorry, I made a miss-statement. At 0% real interest rate TIPS could support a 3.3% withdrawal of real dollars with the portfolio exhausted at the end of thirty years.
by dbr
Thu Oct 30, 2014 3:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Prudent Investment Portfolio for 58-year Old w/20M Net Worth
Replies: 30
Views: 2484

Re: Early SS or Higher IRA Withdrawal??

Professor, No fight here just good debate :beer No cash under mattress EVER, Have mostly Target Fund 2020's (Vanguard, Fidelity, TSP). 750k and growing. 2 Pensions with COLA and not sure how to spend it all wisely? I am thinking Christian Orphanage in S.E. Asia could use it? No Insurance just Auto ...
by dbr
Thu Oct 30, 2014 3:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Early SS or Higher IRA Withdrawal??
Replies: 19
Views: 1415

Re: BND or a CD

There is nothing wrong with seeking a little more yield in safe CDs rather than in intermediate bonds. I am not sure there is a lot of advantage to be gained. It is dancing on the head of a pin. The advantage is mainly psychological - although this can be very important. With a CD, I know I that at...
by dbr
Thu Oct 30, 2014 3:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: BND or a CD
Replies: 23
Views: 1311

Re: A Little Common Core Math problem

Your daughter is very resourceful. And her technique can easily be generalized to non-multiple choice situations. If she hadn't been given multiple choices, she could have just guessed a plausible number for the weight of the cat (or the dog), tried it to see if worked, and then intelligently modif...
by dbr
Thu Oct 30, 2014 3:31 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: A Little Common Core Math problem

My guess is that 90% of the adult population would struggle with this question Do you really think 90% would struggle with this? It is certainly possible that I have a severly skewed expectation of what the average person should be able to figure out with math. I'm surprised to hear somebody thinki...
by dbr
Thu Oct 30, 2014 3:28 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: fleeced by an adviser, is there a recourse?

Right now I use an advisor. I like him. He sends me a biannual reporting of fees. generally my fees are 1.2% This may be an honest and effective answer or it may be an example of disingenuous scamming. The issue is whether the 1.2% is the drain on your assets all-in or is in addition to "costs...
by dbr
Thu Oct 30, 2014 3:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919

Re: fleeced by an adviser, is there a recourse?

munemaker wrote:There is no recourse because that is how the system works. He is paid for making investments for you.


This is very true and brings us to the conclusion that no investor can afford to pay what an adviser needs to earn to provide the service. In my opinion this is the heart of the matter.
by dbr
Thu Oct 30, 2014 3:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919

Re: A Little Common Core Math problem

Solving this problem with equations requires algebra. Since algebra is not being taught at that grade level the students must rely on critical thinking skills. She did solve the problem – and did it without algebra. Not elegant but sufficient. Good for her. Re livesoft: The answer was self evident ...
by dbr
Thu Oct 30, 2014 3:00 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2225

Re: BND or a CD

An investor with a large portfolio, a million or so perhaps, who has a consistent simple asset allocation using a bond fund or two, might find messing around with a flock of CDs to not be worth the trouble or even of any advantage at no trouble. That is especially true if the assets are in a 401K bu...
by dbr
Thu Oct 30, 2014 9:09 am
 
Forum: Investing - Help with Personal Investments
Topic: BND or a CD
Replies: 23
Views: 1311

Re: If I am a LT investor, should I forgo a bond allocation?

I have no problem with any particular investor arriving at whatever asset allocation that investor chooses, even be it 100% stocks.

I am less confident that there is always a full understanding of the consequences of any particular choice.
by dbr
Thu Oct 30, 2014 9:01 am
 
Forum: Investing - Theory, News & General
Topic: If I am a LT investor, should I forgo a bond allocation?
Replies: 28
Views: 1939

Re: Onetime Step up in Basis for inherited stocks

You need to have a trust lawyer or tax lawyer look at the trust documents in order to understand exactly what the situation is. The lawyer who drafted the trust might be able to set you straight. Death or replacement of a trustee would have no effect on the tax status of the investments, in and of i...
by dbr
Thu Oct 30, 2014 8:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Onetime Step up in Basis for inherited stocks
Replies: 3
Views: 228

Re: The safest 4 door sedan out there

I am not sure "stop on a dime considering their weight" is a known effect. Because Kinetic Energy is proportional to the square of the impact velocity, I've always believed that stopping ability has an outsized impact on vehicle safety. It is one of the reasons (I believe) active forward ...
by dbr
Thu Oct 30, 2014 8:45 am
 
Forum: Personal Consumer Issues
Topic: The safest 4 door sedan out there
Replies: 66
Views: 2799

Re: The safest 4 door sedan out there

Like jdb, I've liked Mercedes (I owned a 300E, back when the number preceded the letter). I think our Range Rovers have been safe cars. They're big and heavy, and can stop on a dime considering their weight (and it costs many dimes to replace the massive brake pads). Knock wood, they've been reliab...
by dbr
Thu Oct 30, 2014 12:04 am
 
Forum: Personal Consumer Issues
Topic: The safest 4 door sedan out there
Replies: 66
Views: 2799

Re: Prudent Investment Portfolio for 58-year Old w/20M Net W

OK, Well,even with only $13 million, if he needs to produce $375K of pretax income, that's only a 2.9% return, which can be accomplished a number of ways. And, if he needs 375K after taxes, and assuming an average effective tax rate of 35%, he'll need to make 4.4% overall. That's a little more chal...
by dbr
Wed Oct 29, 2014 11:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Prudent Investment Portfolio for 58-year Old w/20M Net Worth
Replies: 30
Views: 2484

Re: The safest 4 door sedan out there

Trying to single out a single make, model, and variant that is the safest 4 door sedan out there is not possible. There is possibly a list of a number of cars that are good bets and a list of other cars that might fall short to some degree.
by dbr
Wed Oct 29, 2014 11:41 pm
 
Forum: Personal Consumer Issues
Topic: The safest 4 door sedan out there
Replies: 66
Views: 2799

Re: Best approaches to accumulating in a down market

So here's a topic that has been bugging me lately. best approaches to adding/accumulating in a down market. for example, should you go overweight in e.g. small caps, especially when the market gives you such a nice pullback, or should you add across the board using specific weights that favor favor...
by dbr
Wed Oct 29, 2014 11:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best approaches to accumulating in a down market
Replies: 23
Views: 1793

Re: If I am a LT investor, should I forgo a bond allocation?

I decided to have 15% cash, no bond. That is just my choice. I will buy bond when the 10 year yield is at least 3.5%. In the context of this discussion about stock risk and diluting it with bonds, cash is bonds. You might not even be losing a lot of return if by cash you mean CDs paying a reasonabl...
by dbr
Wed Oct 29, 2014 11:31 pm
 
Forum: Investing - Theory, News & General
Topic: If I am a LT investor, should I forgo a bond allocation?
Replies: 28
Views: 1939

Re: The safest 4 door sedan out there

Well this is a concern: InformedForLife.org Safety Assessment NOT RECOMMENDED: [NHTSA frontal impact rating in bottom 72%] My mistake. I was looking at the ratings of the 2-door, not 4-door Accord. In a case of something like this one has to ask if that "recommended/not recommended" is no...
by dbr
Wed Oct 29, 2014 5:39 pm
 
Forum: Personal Consumer Issues
Topic: The safest 4 door sedan out there
Replies: 66
Views: 2799

Re: If I am a LT investor, should I forgo a bond allocation?

If I am a long term investor (ie, 30+yrs time horizon), why should I even have a bond allocation (either taxable or tax exempt)? The bond allocation would reduce my return over that time period. I can understand if I had a shorter time horizon (ie, <10yrs) I should have a bond allocation. But as a ...
by dbr
Wed Oct 29, 2014 5:36 pm
 
Forum: Investing - Theory, News & General
Topic: If I am a LT investor, should I forgo a bond allocation?
Replies: 28
Views: 1939

Re: Early SS or Higher IRA Withdrawal??

In any case, as mathwizard points out, the comparison statistic is the level of safe total income that can be achieved. It is a mistake to look at breakeven because the plan is a mix of spending down assets and carrying a longevity annuity that is inflation indexed. As pointed out the plan involves ...
by dbr
Wed Oct 29, 2014 5:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Early SS or Higher IRA Withdrawal??
Replies: 19
Views: 1415

Re: The safest 4 door sedan out there

The Driver Weight-Effect Fatality Rate is an interesting statistic. I have been involved in studies of exactly that issue. The result is an almost 1/weight dependence of driver fatality rate on vehicle weight with a knee around 3000 lbs. Note this implies severe issues when driving very small cars ...
by dbr
Wed Oct 29, 2014 5:11 pm
 
Forum: Personal Consumer Issues
Topic: The safest 4 door sedan out there
Replies: 66
Views: 2799

Re: My college son's investment in Merril Lynch

The accounts are UGMA. It is under both my husband and my son' names. Probably you mean the accounts are in your sons' name and your husband is the custodian. The point is that income has been and is to be reported as your sons' income. Another point is that the money is absolutely permanently your...
by dbr
Wed Oct 29, 2014 5:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: My college son's investment in Merril Lynch
Replies: 12
Views: 1221

Re: The safest 4 door sedan out there

At least they take vehicle weight into account, which is a factor not included in Federal test protocols.

In using actual accident statistics for any part of the data driver behavior correlated with make and model must be considered.
by dbr
Wed Oct 29, 2014 4:56 pm
 
Forum: Personal Consumer Issues
Topic: The safest 4 door sedan out there
Replies: 66
Views: 2799

Re: who decides the stock price?

The stock market is a form of auction. so basically there is half of them who want to sell at that price and half who want to buy at that price? Its fascinating that its a "step function" as though the new equilibrium always existed like rocks under the sea bed only to be exposed when the...
by dbr
Wed Oct 29, 2014 3:59 pm
 
Forum: Investing - Theory, News & General
Topic: who decides the stock price?
Replies: 18
Views: 1435

Re: Asset Location

If there are two accounts, say a traditional IRA and a taxable account, please help me understand by equities go in the taxable account and bonds go in the IRA. I have heard this advice many times in the past, but I find it unworkable in practice. To me, it should be reversed. Assuming stocks are i...
by dbr
Wed Oct 29, 2014 3:39 pm
 
Forum: Investing - Theory, News & General
Topic: Asset Location
Replies: 13
Views: 699

Re: My college son's investment in Merril Lynch

One of the investments is MDCPX (Blackrock Balanced Fund). Originally my F-I-L invested $4,572 in 1996. The estimated market value was $11,934 (end of Sept) and cost of basis $12,651 (end of Sept.) The cost of basis includes all the dividend and capital gain as I understand the explanation from the...
by dbr
Wed Oct 29, 2014 3:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: My college son's investment in Merril Lynch
Replies: 12
Views: 1221

Re: Tools for Balancing and Re-Balancing Portfolio

Hi Wisemates, I'll pile on. I’m grappling with some way to evaluate if a person’s portfolio is properly balanced. Being properly balanced means that the expected return of the portfolio and the risk in its different manifestations is what meets the needs and objectives of the investor. It takes lea...
by dbr
Wed Oct 29, 2014 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tools for Balancing and Re-Balancing Portfolio
Replies: 12
Views: 817

Re: how risky is stock investing?

As others are pointing out there is no such thing as "being good with stocks and making money consistently." It is a valid comment that what Buffett does is nothing like an individual simply trying to pick stocks and make a success of it. The basic idea about investing and gambling or retu...
by dbr
Wed Oct 29, 2014 2:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: how risky is stock investing?
Replies: 16
Views: 1208

Re: Are advisers necessary?

Bogleheads: Because we are not taught about investing in school, . . . That might be a good thing as most attempts I have seen to bring investment education into schools are either opportunities for predatory investment advisors to peddle their view of the world or, even worse, for well meaning eng...
by dbr
Wed Oct 29, 2014 2:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919

Re: How should we invest if interest rates never go up?

Save more and plan on spending less.
by dbr
Wed Oct 29, 2014 9:39 am
 
Forum: Investing - Theory, News & General
Topic: How should we invest if interest rates never go up?
Replies: 17
Views: 1644

Re: fleeced by an adviser, is there a recourse?

In some perverted sense, this guy did you a favor by doing such a bad job that you woke up to smell the coffee! Now you can invest ALL of your money in a better way. In the long run, this switch may even make you more wealthy. :twisted: Yep, that's the part I refer to as the free market economy wor...
by dbr
Wed Oct 29, 2014 9:38 am
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919

Re: fleeced by an adviser, is there a recourse?

I guess one could list a hierarchy from most to least (or not) guilty: 1. Criminal acts such as extortion, theft of client assets, actual fraud such as a Ponzi scheme, etc. This might include selling defective products that cause death and injury or selling contaminated food. Sometimes such things o...
by dbr
Wed Oct 29, 2014 9:32 am
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919

Re: fleeced by an adviser, is there a recourse?

I am not sure anyone could establish that 3% in total fees violates fiduciary responsibility, as outrageous as that sounds. That paying the fee is justified in services received and expected performance delivered would probably be routinely accepted as standard in the industry. Would anyone be able ...
by dbr
Tue Oct 28, 2014 5:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919

Re: Should I use 50k Delta miles for a $600 flight?

I disagree with this somewhat. I do fly a fair bit of BIS miles but having spent time investigating and learning about this has resulted in incredible value for us. In the past we would take one or two trips while we are now able to take many many more because we spend so absurdly little on flights...
by dbr
Tue Oct 28, 2014 5:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I use 50k Delta miles for a $600 flight?
Replies: 73
Views: 4360

Re: Should I use 50k Delta miles for a $600 flight?

A couple of sources include: http://thepointsguy.com/ http://boardingarea.com/ A fair warning though is that this whole area could perhaps best be characterized as an enthusiast hobby rather than a common sense form of intelligent consumer behavior. Does a person really want to end up with two dozen...
by dbr
Tue Oct 28, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I use 50k Delta miles for a $600 flight?
Replies: 73
Views: 4360

Re: Prudent Investment Portfolio for 58-year Old w/20M Net W

I am asking for thoughts not for myself, but for a friend who recently sold his business, is now worth the above stated amount and who is crying poor-mouth because his business income has vanished. Net worth is 65% liquid. Income needs $375K per year. Top US income tax rate. So he doesn't understan...
by dbr
Tue Oct 28, 2014 4:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Prudent Investment Portfolio for 58-year Old w/20M Net Worth
Replies: 30
Views: 2484

Re: Should I use 50k Delta miles for a $600 flight?

2. If apply for some cards right now, can I use my total employment income in 2014, even after the major source of this income has been shut? Victoria I've used spending of withdrawals from assets as "income" explicitly identified as such over the phone with CC CSR's to get approvals for ...
by dbr
Tue Oct 28, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I use 50k Delta miles for a $600 flight?
Replies: 73
Views: 4360

Re: What funds are negatively correlated with stocks?

Normally the quantities the correlation of which is being examined are the returns and not the values.
by dbr
Tue Oct 28, 2014 3:37 pm
 
Forum: Investing - Theory, News & General
Topic: What funds are negatively correlated with stocks?
Replies: 24
Views: 2902

Re: Traditional Medicare vs Medicare Advantage

I am/have been suspicious of the long term situation for MA and have some concern regarding changing into Medigap after the initial enrollment periods. Therefore I chose traditional Medicare/Medigap. I do not think minimizing cost is a good strategy when it comes to insurance. I would tend toward ma...
by dbr
Tue Oct 28, 2014 9:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Traditional Medicare vs Medicare Advantage
Replies: 30
Views: 1685

Re: Should I use 50k Delta miles for a $600 flight?

I've opened and closed a few cards and have come to lodge in the mid-800's. I don't actually know what the positives and negatives of this might be. There is a whole forum section on credit cards over at FlyerTalk: http://www.flyertalk.com/forum/credit-debit-prepaid-card-programs-390/ http://www.fly...
by dbr
Tue Oct 28, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I use 50k Delta miles for a $600 flight?
Replies: 73
Views: 4360

Re: your advisor should act like a good doctor

Another part of this analogy is that the best advice might be to not use a financial adviser at all. Not seeking care from a doctor for a medical condition and/or for wellness care would be unusual and not recommended by most. In some cases it is even illegal not to seek care, such as for a sick chi...
by dbr
Tue Oct 28, 2014 9:01 am
 
Forum: Investing - Theory, News & General
Topic: your advisor should act like a good doctor
Replies: 43
Views: 2650

Re: Tilted to SV by mistake, should I TLH out of it?

Aptenodytes wrote:
You are acting as if choosing an AA is pure guesswork, and that subsequent returns tell you if you guessed right or not. That's wrong. There's a logic to choosing an AA, grounded in robust research.


Excellent advice for any investor to heed.
by dbr
Tue Oct 28, 2014 8:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Tilted to SV by mistake, should I TLH out of it?
Replies: 37
Views: 1655

Re: Will I get taxed if family sends my bank $50K from abroa

Just to repeat the really important point: receivers of gifts do not pay taxes on the gift and have no tax reporting responsibility of any kind. It is a shame how often misinformation on this is repeated. One can understand the possibility of confusing receipt of a gift with having income, but it is...
by dbr
Tue Oct 28, 2014 8:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Will I get taxed if family sends my bank $50K from abroad?
Replies: 10
Views: 1089

Re: fleeced by an adviser, is there a recourse?

barnaclebob wrote:It sucks to be taken advantage of but it doesn't sound like this adviser is guilty of any crime.


As one who might say, and has said, that these practices should be criminal and result in jail time, the actual and practical resolution is caveat emptor.
by dbr
Mon Oct 27, 2014 8:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 87
Views: 6919
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