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Re: Umbrella Liability Insurance - Need it or not?

I have a 2MM policy. I want to protect my assets in case an event occurs.
by imgritz
Fri Dec 12, 2014 5:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Liability Insurance - Need it or not?
Replies: 45
Views: 3948

Re: How to teach young kids to be frugal?

imgritz and other parents that give allowances. How much do you give at the age of 5? A quarter? 1 dollar? I could never figure out a common strategy among parents. I came up with $1 per week per age of child. For example, at age 6 she got $6 per week which I automatically transferred to an online ...
by imgritz
Fri Dec 12, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to teach young kids to be frugal?
Replies: 62
Views: 3733

Re: More money equates to feeling poor?

You still need to live your life and find a balance with your money.

You need to look at statistics for your age/income. You can find the studies on the internet. The majority of people don't save for retirement. Personally, I'm thrilled I found the Bogleheads and implemented the concepts. :-)
by imgritz
Fri Dec 12, 2014 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: More money equates to feeling poor?
Replies: 50
Views: 6056

Re: How to teach young kids to be frugal?

I read a strategy in Money magazine and I implemented this concept when my daughter was 6. Instead of giving my daughter anything she wanted, I gave her money (allowance and special-one time gifts on vacations). I gave her $40 one time (Disney trip) and said it his her choice to spend or save it for...
by imgritz
Fri Dec 12, 2014 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to teach young kids to be frugal?
Replies: 62
Views: 3733

Re: funds which glide in <10 years

Change your asset allocation to something more conservative if you can't sleep at night.
by imgritz
Fri Dec 12, 2014 1:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: funds which glide in <10 years
Replies: 7
Views: 927

Re: Split Assets Between Two Firms?

Gaston wrote:What risk(s) does this help mitigate?

Splitting assets between firms provides peace of mind against the theoretical doomsday. There is a wiki article that explains having all of your assets at Vanguard is fine.
by imgritz
Thu Dec 11, 2014 3:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Split Assets Between Two Firms?
Replies: 28
Views: 2416

Re: How do I split between VG & Fidelity?

This is based on your asset percentages in your accounts. Let's say you want a 60/40 split with 30% for international. Total Bond Index 40% Total Stock Index 42% Total International Stock Index 18% IF your Roth is 18% of your assets, the put the Total International Stock in that account. Is this wha...
by imgritz
Wed Dec 10, 2014 7:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do I split between VG & Fidelity?
Replies: 19
Views: 2034

Re: Your opinion of a Financial Advisor

I've hired two financial advisors in my life. My summation is they cared more about their profit than mine. This is why I learned to invest on my own.
by imgritz
Wed Dec 10, 2014 3:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your opinion of a Financial Advisor
Replies: 26
Views: 4927

Re: Why don't YOU follow Buffett's advice?

I understand his advice. I simply can't afford to take the risks he does. Let's say in the next bad bear you loose 1/2 of your equities. I couldn't stomach a 45% loss. Now if I had Buffett's billions, I think I could manage. :D
by imgritz
Wed Dec 10, 2014 3:04 pm
 
Forum: Investing - Theory, News & General
Topic: Why don't YOU follow Buffett's advice?
Replies: 114
Views: 7843

Re: "Why Retirement at 65 is a Fairy Tale"

Part of the blame I would put on the parents/education system for never teaching children about finances and the importance of savings for a rainy-day/retirement. Have you seen the dozens of commercials each week from investment firms? The investment industry has been trying for decades to get peop...
by imgritz
Wed Dec 10, 2014 2:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Why Retirement at 65 is a Fairy Tale"
Replies: 117
Views: 11426

Re: responding to HR question about salary target

I would tell HR your salary range. You don't want to waste their time or yours for underpaying positions.
by imgritz
Tue Dec 09, 2014 7:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: responding to HR question about salary target
Replies: 9
Views: 1138

Re: Lump Sum Windfall of $28,000

After saving for your taxes, I would pay down the student loans.
by imgritz
Tue Dec 09, 2014 7:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lump Sum Windfall of $28,000
Replies: 9
Views: 1036

Re: lending club

Imgritz - I created a filter with the following criteria: no delinquencies no public records min employment 4 years review status approved Income verified max debt to income ratio 15% revolving balance < 60% I also kept an eye on the open credit lines and length of credit history and of course cred...
by imgritz
Tue Dec 09, 2014 7:10 pm
 
Forum: Investing - Theory, News & General
Topic: lending club
Replies: 50
Views: 3902

Re: lending club

Here's my experience: I invested $10,000 with them in mid 2010, mostly out of curiosity, not because I expected to make big bucks. I had about 450 loans, all hand picked and mostly B and C. I kept reinvesting the interest payments for 2 years and then started taking money out. The first year was al...
by imgritz
Tue Dec 09, 2014 6:46 pm
 
Forum: Investing - Theory, News & General
Topic: lending club
Replies: 50
Views: 3902

Re: lending club

LC is also backed by Google Venture.
by imgritz
Tue Dec 09, 2014 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: lending club
Replies: 50
Views: 3902

Re: Supporting the Operating Costs of the Forum

+1 on donation. Thanks for keeping the forum going.
by imgritz
Tue Dec 09, 2014 6:15 pm
 
Forum: Forum Issues and Administration
Topic: Supporting the Operating Costs of the Forum
Replies: 17
Views: 2643

Re: Have you ever been let go?

My husband is currently unemployed :( well i should not say that -- he is doing contracting work - 1099 self employment since he was let go from his job of 22 years in May. I posted here then - he was actually fired because of 1 customer complaint - we are waiting for an arbitration date. Very scar...
by imgritz
Tue Dec 09, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you ever been let go?
Replies: 74
Views: 5445

Re: thank you note following interview (best way)

I've talked with hiring managers. They say it's ok to send one by email.
by imgritz
Tue Dec 09, 2014 1:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: thank you note following interview (best way)
Replies: 21
Views: 1445

Re: Have you ever been let go?

First time was in 1992 when the company was going under. They laid off 80% of the IT staff. I was back to work within six weeks. Second time was in 2013 due to company laid offs again. I was back to work within two+ weeks. The best thing you can do is keep your skills current, contacts up-to-date on...
by imgritz
Tue Dec 09, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you ever been let go?
Replies: 74
Views: 5445

Re: Helping mom with SS

by imgritz
Mon Dec 08, 2014 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping mom with SS
Replies: 7
Views: 571

Re: High(ish) earner; spending too much?

What do you do in Tech? Where do you live?

At that income level, usually it's CTOs in So Cal.
by imgritz
Mon Dec 08, 2014 7:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: High(ish) earner; spending too much?
Replies: 66
Views: 6997

Re: 2014 Portfolio Returns

ot1138 wrote:
livesoft wrote:How is that relative to your benchmark? :twisted:


70/30 equity/bond benchmark is up +9.9% between Jan 1 and Dec 1. I'm not sure why that matters though, because you can't spend a benchmark.

Comparing portfolio returns doesn't make sense. A 70/30 AA produces differently than a 40/60 portfolio.
by imgritz
Mon Dec 08, 2014 12:52 pm
 
Forum: Investing - Theory, News & General
Topic: 2014 Portfolio Returns
Replies: 23
Views: 1733

Re: Legal Protections Question (Rental Property)

How does an LLC protect you?

I have a rental property. It is managed by a property manager. It is their job to keep the property in excellent condition. They hire qualified contractors. I protect myself with insurance and an umbrella policy.
by imgritz
Fri Dec 05, 2014 6:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Legal Protections Question (Rental Property)
Replies: 29
Views: 1838

Re: Help with taxable account (conservative)

I didn't see in your post what the money is intended. Is this for a emergency fund? House down-payment? Retirement? Asset allocation is a personal decision on how much risk you can tolerate. Listen to your wife. Think loosing 1/2 of the stock money in a bad bear market. A suggestion is a very conser...
by imgritz
Fri Dec 05, 2014 5:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with taxable account (conservative)
Replies: 21
Views: 871

Re: After tax money to be left to Grandchildren

In a taxable account, it is usually recommended Total Stock Market/Total International Stock market with muni funds for bond exposure for tax efficiency. The asset allocation depends on your tolerance for risk. Personally, I have a Vanguard LifeStrategy Moderate Growth fund (60% stocks/40% bonds) in...
by imgritz
Fri Dec 05, 2014 4:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: After tax money to be left to Grandchildren
Replies: 15
Views: 1961

Re: HELOC as emergency fund

I disagree using a debt vehicle as an emergency fund. Let's say you loose your job and you're not employed again for six months. Do you want to go into debt using your house as collateral without income coming in? Sounds like a recipe to give your house to the bank.
by imgritz
Thu Dec 04, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: HELOC as emergency fund
Replies: 19
Views: 1646

Re: Just Paid Off My Car

Congratulations! It must feel great having that debt gone. :D
by imgritz
Wed Dec 03, 2014 3:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just Paid Off My Car
Replies: 24
Views: 2237

Re: Lending Club IPO

I am curious to see where this company goes. I decided to put a small amount in as a lender. The facts that got me interested was 1. Google is backing lending club 2. LC has 6 billion in loans mostly to help people refinance debt. 3. The total credit card industry is 880 billion. 4. My average inter...
by imgritz
Wed Dec 03, 2014 3:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lending Club IPO
Replies: 9
Views: 1283

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

I would change your approach. I would open an account in you and your wife's name. Fund that account 40K per year. IF the parents need the money, you can hand out as much as you desire from that account.
by imgritz
Wed Nov 26, 2014 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4428

Re: Brother wants me to co-sign a house with him

samsoes wrote:No!!!!!!!!!!!

+1
by imgritz
Tue Nov 25, 2014 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Brother wants me to co-sign a house with him
Replies: 41
Views: 3072

Re: How did you handle the 2008 bear market ?

The 2008 bear market told me that my asset allocation wasn't the right one for me. So I found a less risky AA. :D
by imgritz
Tue Nov 25, 2014 3:06 pm
 
Forum: Investing - Theory, News & General
Topic: How did you handle the 2008 bear market ?
Replies: 79
Views: 6157

Re: What would be the investing strategy for a coming crash?

This is all about asset allocation. You need to find an AA that you are comfortable during bear and bull years.
by imgritz
Tue Nov 25, 2014 3:05 pm
 
Forum: Investing - Theory, News & General
Topic: What would be the investing strategy for a coming crash?
Replies: 82
Views: 8938

Re: Thank You

Pass on what you have learned and help others. :-)
by imgritz
Tue Nov 25, 2014 3:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Thank You
Replies: 3
Views: 675

Re: Been out of market since 2008 and can't get back in

I think your biggest issue is asset allocation. For a nervous investor, I would suggest 40% stocks with a maximum of 50% as the other posters have mentioned.

You will get a CFA assigned to your account and get a free financial plan if you transfer the money to Vanguard.
by imgritz
Tue Nov 25, 2014 12:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Been out of market since 2008 and can't get back in
Replies: 52
Views: 5265

Re: Looking for a career playing to these strengths

You could be a fee-only financial planner.
by imgritz
Mon Nov 24, 2014 4:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Looking for a career playing to these strengths
Replies: 4
Views: 541

Re: New to Vanguard and serious about retirement planning

It appears to be the standard Vanguard CFA recommended portfolio. They add a couple of extra corporate bond funds to work with the Total Bond index. It looks like you are fine.
by imgritz
Mon Nov 24, 2014 4:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: New to Vanguard and serious about retirement planning
Replies: 12
Views: 1592

Re: 32 year old amateur investor looking for retirement advi

Asset allocation is based on what you can handle. Think loosing 1/2 of your stock allocation in a given year. If you can stomach it then the 80/20 is fine for you. The typical holdings for Bogleheads is a three fund portfolio with 30% of international allocation of the equities. A suggested allocati...
by imgritz
Mon Nov 24, 2014 12:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: 32 year old amateur investor looking for retirement advice
Replies: 10
Views: 897

Re: Do you use a phone book?

stingray5688 wrote:A what?

+1

I'll use a phone book as soon as I find my rotary dial phone.
by imgritz
Mon Nov 24, 2014 12:10 pm
 
Forum: Personal Consumer Issues
Topic: Do you use a phone book?
Replies: 51
Views: 2135

Re: Girlfriend with a LOT of Student debt.

I would talk to her about her debt and how SHE plans on paying if off. This is not your problem unless you intent to make the GF your spouse. I looked up on Nolo and it says it will always be her debt unless you cosign her loans. Debts. In community property states, most debts incurred by either spo...
by imgritz
Mon Nov 24, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Girlfriend with a LOT of Student debt.
Replies: 166
Views: 13609

Re: Personal Tips for a New Father to Be

Congratulations!

I suggest using FireCalc http://www.firecalc.com/ to see if your portfolio will last as long as you desire. Personally, I would keep working so you can take of your family.
by imgritz
Fri Nov 21, 2014 8:03 pm
 
Forum: Personal Consumer Issues
Topic: Personal Tips for a New Father to Be
Replies: 31
Views: 3604

Re: Daycare payments - a way to get further discount?

I think Discover 1% cash back is the only way to go.

Would they accept a discount if you paid in cash? This way they wouldn't have to pay the merchant fees on the credit card.
by imgritz
Fri Nov 21, 2014 5:27 pm
 
Forum: Personal Consumer Issues
Topic: Daycare payments - a way to get further discount?
Replies: 11
Views: 1569

Re: "Are You an Irrational Investor? Here’s How to Tell"

Behavior finance articles are my favorite. It's interesting to see investor psychology.
by imgritz
Fri Nov 21, 2014 5:20 pm
 
Forum: Investing - Theory, News & General
Topic: "Are You an Irrational Investor? Here’s How to Tell"
Replies: 13
Views: 1994

Re: Vanguard offers login security code

ddunca1944 wrote:Thanks for posting this. I've just activated mine.

+1 on thanks!
by imgritz
Fri Nov 21, 2014 5:15 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard offers login security code
Replies: 96
Views: 13971

Re: Daycare payments - a way to get further discount?

Do you have a Flex Spending account for childcare? I used mine to max payments directly to the preschool.
by imgritz
Fri Nov 21, 2014 5:10 pm
 
Forum: Personal Consumer Issues
Topic: Daycare payments - a way to get further discount?
Replies: 11
Views: 1569

Re: Side jobs or hobbies that make you money

I develop websites as a side business, but I haven't had a new client in several years. I mainly now just do updates for my current clients which nets less than $1K a year. Many people just use Facebook or they use one of those design-it-yourself website service. I work on this side business becaus...
by imgritz
Fri Nov 21, 2014 4:14 pm
 
Forum: Personal Consumer Issues
Topic: Side jobs or hobbies that make you money
Replies: 127
Views: 17669

Re: Side jobs or hobbies that make you money

Momus wrote:Become an Uber driver ~$20k/year part time.

Interesting. Does Uber supply the car and insurance?
by imgritz
Fri Nov 21, 2014 4:08 pm
 
Forum: Personal Consumer Issues
Topic: Side jobs or hobbies that make you money
Replies: 127
Views: 17669

Re: Side jobs or hobbies that make you money

manuvns wrote:p2p lending at prosper and lending club . lost $100 at prosper and made $220 at lending club

+1 on the p2p lending. It helps me with my financial analytical skills by picking the correct loans. It makes me a little profit and it is a fun hobby for me.
by imgritz
Fri Nov 21, 2014 4:07 pm
 
Forum: Personal Consumer Issues
Topic: Side jobs or hobbies that make you money
Replies: 127
Views: 17669

Re: Updated opinions about Ally Bank?

I have an off-topic question. Isn't Ally the old General Motors Acceptance Corp? Did they have to take money in the bailout?
by imgritz
Fri Nov 21, 2014 3:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Updated opinions about Ally Bank?
Replies: 67
Views: 8476

Re: Young Investor Welcoming Any Advice

Long term, you could invest all of your money in Vanguard Total Stock Market index fund and forget about it. Short term you need an emergency fund about six months worth of expenses in CDs, savings account, iBonds, short term tax free bond funds, etc. I've got that part taken care of. Valid point n...
by imgritz
Fri Nov 21, 2014 3:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Young Investor Welcoming Any Advice
Replies: 16
Views: 1233

Re: Tell me about FitBit - is it worth having?

I wanted to have something that would motivate me to walk more. It tracked everything I did such as walking and going up stairs. I would forget to walk and the device didn't remind me. I asked people in the forum how does it motivate you? The common response was they have a footstep goal and they wa...
by imgritz
Fri Nov 21, 2014 3:46 pm
 
Forum: Personal Consumer Issues
Topic: Fitbit, Vivofit, or other?
Replies: 55
Views: 2261
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