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Re: ? Best simple reference to dissuade a day trader

Your post stole my thunder. About a year ago, a friend of mine lost a job that will now be very difficult to replace. (He's about 50 now, which doesn't help). He also day trades, using programs that show fancy colorful charts showing what he should or shouldn't bet on. He recently told me that the &...
by lawman3966
Fri Aug 01, 2014 9:52 am
 
Forum: Investing - Theory, News & General
Topic: ? Best simple reference to dissuade a day trader
Replies: 3
Views: 215

Re: Should I become a CFP?

Hi everybody. 6. Any other thoughts or advice? Not sure how open-ended the term "other thoughts or advice" was intended to be. However, I can suggest one alternative career - that of working as a patent examiner or agent. I don't know if the patent office is currently hiring in your field...
by lawman3966
Thu Jul 31, 2014 1:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I become a CFP?
Replies: 23
Views: 2802

Re: Selling House - Do We Need a Listing Broker?

From my experience some years ago, and a little recent research, I'd say that you are fighting the tide by going FSBO. Realtors individually, and through organizations will work against rewarding someone who bypasses the system that pays them. That said, it's possible. You will have to do quite a bi...
by lawman3966
Mon Jul 28, 2014 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling House - Do We Need a Listing Broker?
Replies: 61
Views: 2635

Re: 401k website evaluation

I've had about three 401K plans, and none has done what you describe. All have permitted the participants to control how future contributions will be allocated, to see their current balances, and to conduct transfers among currently held funds, and from currently held funds to other funds within the...
by lawman3966
Fri Jul 25, 2014 10:27 am
 
Forum: Personal Finance (Not Investing)
Topic: 401k website evaluation
Replies: 5
Views: 332

Re: 2 days in Portland, suggestions?

I enjoyed, and recommend, the Heathman hotel restaurant and bar.
by lawman3966
Tue Jul 22, 2014 4:34 pm
 
Forum: Personal Consumer Issues
Topic: 2 days in Portland, suggestions?
Replies: 34
Views: 1349

Re: Helping My Grandmother

Renting would cost 3-4x what her mortgage costs are. HCOL area The original balance was like $65k or something. It's a 30 year mortgage that she got a few years ago because it's all she was able to afford. It's a small house in a 55+ community. The payment is like $350 ish last I remember, and that...
by lawman3966
Sun Jul 20, 2014 11:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Helping My Grandmother
Replies: 54
Views: 3185

Re: How much energy does water heater use when I'm not home?

I will just repeat what a technician told me a few years ago in connection with the insulation on modern water tanks/heaters. He told me that some people turned off power to tanks in vacation homes. They returned two months later and found that the water was still warm. Such was the quality of the i...
by lawman3966
Sat Jul 19, 2014 1:18 am
 
Forum: Personal Consumer Issues
Topic: How much energy does water heater use when I'm not home?
Replies: 32
Views: 2727

Re: Withdrawal Rate and Net Worth

I'd say that the answer depends upon whether you plan to stay in the house or sell it, and whether the WR you're referring to needs to account for rent or not. If you intend to stay in a paid off home (using "paid off" to simplify the analysis), expenses like property tax, maintenance, ins...
by lawman3966
Thu Jul 17, 2014 1:26 pm
 
Forum: Investing - Theory, News & General
Topic: Withdrawal Rate and Net Worth
Replies: 16
Views: 1805

Re: Tax-Conscious Retirement and Roth Conversion Calculator

lawman, What do you mean by "after-tax accounts"? To me, those are Roths, the accounts for which taxes were paid on contributions for the year of the contribution or conversion. The Roths then grow tax-free for the life of the owner. Apparently, you mean something different. I see retirem...
by lawman3966
Tue Jul 15, 2014 1:12 am
 
Forum: Investing - Theory, News & General
Topic: Tax-Conscious Retirement and Roth Conversion Calculator
Replies: 11
Views: 1255

Tax-Conscious Retirement and Roth Conversion Calculator

I have played with firecalc and cfiresim.com for some time. I recently discovered and started working with i-orp.com and was struck by the magnitude of the money that this system proposes be moved from Tax deferred (TD) accounts to Roth early in the retirement period. I assumed this would incur a hi...
by lawman3966
Tue Jul 15, 2014 12:02 am
 
Forum: Investing - Theory, News & General
Topic: Tax-Conscious Retirement and Roth Conversion Calculator
Replies: 11
Views: 1255

Re: Another reason I am my own advisor

It shows that the financial education of an investor can never be entrusted to a financial advisor. A quote from Bill Bernstein in the Investor's Manifesto comes to mind, in which he admonishes investors that if they assume that people in the financial industry are out to take everything from them, ...
by lawman3966
Mon Jul 14, 2014 11:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Another reason I am my own advisor
Replies: 15
Views: 3740

Re: Why do companies put up with high expense 401k choices?

In many cases, the provider companies are expert at division and conquest. The plan decision makers, including the trustee, are offered sweet deals (fee reductions among other things), to the decision makers, and make the money back several times over with the fees charged to the other plan particip...
by lawman3966
Wed Jul 09, 2014 11:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why do companies put up with high expense 401k choices?
Replies: 15
Views: 1520

Re: Fiduciary Employee Question

This provider is generally suggested for employer plans with multiple participants. In that arena, their prices are competitive compared to other plans that offer good investment choices. For a solo 401k, the needs are different. Competitive is a better word. I work in this industry and the number ...
by lawman3966
Wed Jul 09, 2014 11:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Employee Fiduciary] Question
Replies: 10
Views: 1231

Is Market on "Wrong Side of History"?

I'm aware that it's unbogleheadish to consider external factors in determining one's AA. However, being involuntarily in a quasi-early-retirement situation, I confess that the linked article gave me some concern. On one hand, the contention that the market rise has been fueled by Fed policy that won...
by lawman3966
Wed Jul 09, 2014 12:02 pm
 
Forum: Investing - Theory, News & General
Topic: Is Market on "Wrong Side of History"?
Replies: 22
Views: 2707

Re: US citizens abroad cannot invest through [Fidelity]

The maximum check size is $5,000 so I just write $5,000 checks now and then. I don't want to involve my brokerages in this process at all. My assumption, based on the above, is that if you sell investments in your brokerage accounts and generate cash, you then move the cash from the brokerage to a ...
by lawman3966
Tue Jul 08, 2014 10:57 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 96
Views: 7538

Re: US citizens abroad cannot invest through [Fidelity]

As a non U.S. resident, the account does not allow me to buy mutual funds (though I can transfer existing holdings in to sell or hold there). In fact, I can't even browse them to see what the option are. I don't completely follow the above, and am attempting to get a clarification. Are you saying t...
by lawman3966
Mon Jul 07, 2014 10:52 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 96
Views: 7538

Re: Inflation adjustment of one's "number" and TIPS

IMHO, setting one's goal "number" in the form of a lump sum is unwise for many of the reasons you raise. First, the purchasing power of a lump sum (such as one million or other figure), declines by the amount of inflation each year. Secondly, the ability to convert the lump sum into income...
by lawman3966
Sun Jul 06, 2014 10:56 pm
 
Forum: Investing - Theory, News & General
Topic: Inflation adjustment of one's "number" and TIPS
Replies: 4
Views: 642

Re: "Only a fraction of Americans directly own stocks"

2 commas in mutual funds don't count with this guy, I guess. I think he did count mutual fund holdings. The author's choice of words was unfortunate, using, as he did, the term "directly own stocks." However, I skimmed the linked Pew research article, and the figure of 53% of the populati...
by lawman3966
Sat Jul 05, 2014 5:33 pm
 
Forum: Investing - Theory, News & General
Topic: "Only a fraction of Americans directly own stocks"
Replies: 27
Views: 3332

Re: Just retired...any reason to move 401K to IRA?

Yes, I agree it's tricky. Some say everybody losing a giant lawsuit is going to declare bankruptcy so it amounts to the same thing. I'm not willing to rely on that. The one lawyer I could get an opinion out of, a person whose judgement I trust, said exactly that. I question whether it's wise to app...
by lawman3966
Fri Jul 04, 2014 12:39 pm
 
Forum: Investing - Theory, News & General
Topic: Just retired...any reason to move 401K to IRA?
Replies: 50
Views: 4946

Re: NY Times: Not enough younger investment advisors

If a person wants portfolio management they wind up paying a portfolio manager 1% a year or more. Rick Ferri charges a whole lot less than that but you need $500,000 or more to invest with him. It boils down to how can you do the right thing for your clients and yet still make a good living. A bett...
by lawman3966
Sun Jun 29, 2014 1:03 pm
 
Forum: Investing - Theory, News & General
Topic: NY Times: Not enough younger investment advisors
Replies: 72
Views: 7352

Re: Timeline for buying a house + Q about central Jersey

I'm very surprised to hear that Princeton/Montgomery are apparently not in central Jersey. It's closer to Philly than to NYC, but when you look at the state of New Jersey, it's exactly in the middle of the state. According to wikipedia, Central Jersey includes both townships. Wikipedia is not as re...
by lawman3966
Sun Jun 29, 2014 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Timeline for buying a house + Q about central Jersey
Replies: 28
Views: 2451

Re: Answer to questions.

You should be able to safely withdraw about 3% from your $1.1 million portfolio ($33,000/year) plus SS when its taken. If you can live on that you should have the freedom to do what you want. I have seen this approach proposed often, yet it doesn't make sense to me. Under the above approach, assumi...
by lawman3966
Fri Jun 27, 2014 10:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Please help: Time to change AA?
Replies: 21
Views: 1186

Re: SPIA and Inflation Interview

Let's assume the following proportions of total cost of your various expenses: (1) Paid-off home: 40% of expenses. (inherently adjusted for home price inflation, since there are no remaining payments). I don't understand. If the home is paid off and there are no remaining payments how can that be 4...
by lawman3966
Thu Jun 26, 2014 4:28 am
 
Forum: Investing - Help with Personal Investments
Topic: SPIA and Inflation Interview
Replies: 9
Views: 694

Re: Merton: 401(k) retirement plans face crisis

Some data can help place Dr. Merton's concerns into perspective. Most of the below comes from memory and some from cursory internet searches. If anyone finds that the data is significantly off, please let me know. 1) only about 1/3 of private sector employees are enrolled in 401K plans. 2) The avera...
by lawman3966
Thu Jun 26, 2014 12:13 am
 
Forum: Investing - Theory, News & General
Topic: Merton: 401(k) retirement plans face crisis
Replies: 188
Views: 17212

Re: SPIA and Inflation Interview

In an attempt to supplement what I saw above, I have provided an example below. The following identifies assets on the left, and the expense the asset is directed to pay on the right. (1) Paid-off home: 40% of expenses. (The paid off home liability-matches the 40% of total cost ($1200 of the total $...
by lawman3966
Wed Jun 25, 2014 11:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: SPIA and Inflation Interview
Replies: 9
Views: 694

Re: NY Times: Not enough younger investment advisors

Advisors are going the way of the buggy whip, so I wouldn't put too much credence into this article. Many people's first foray into investing nowadays is the default Target Retirement Fund in their 401(k) or 403(b). That's not a bad place for them to be with their entire portfolio for probably 90% ...
by lawman3966
Wed Jun 25, 2014 11:07 am
 
Forum: Investing - Theory, News & General
Topic: NY Times: Not enough younger investment advisors
Replies: 72
Views: 7352

Re: Any incorrect information on investing in wikipedia?

I haven't seen any incorrect information on investing on Wikipedia, or in connection with any other topic. I have certainly read that Wikipedia has made errors on some subjects, and I don't doubt it. More specifically, I saw a CNN piece contending that Wikipedia was not reliable. Shortly thereafter,...
by lawman3966
Tue Jun 24, 2014 8:44 pm
 
Forum: Investing - Theory, News & General
Topic: Any incorrect information on investing in wikipedia?
Replies: 9
Views: 697

Re: Denver: Visiting and Possible Relocation

I lived in Denver for about a year and a half, ending ten years ago, and liked it very much. The short version of things is that I found it to have the amenities of a large city with the accessibility of a small one. I'd lived in Dallas a while before that, and much preferred Denver. There was much ...
by lawman3966
Mon Jun 23, 2014 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Denver: Visiting and Possible Relocation
Replies: 25
Views: 1743

Not the Ritz, but . . .

This isn't the lap of luxury, but if you really need to save money, it could come in handy. http://www.realtor.com/realestateandhomes-detail/1234-Daisy_Joshua-Tree_CA_92252_M10249-37676?row=8 It comes with 5 acres! While not likely to appeal to many on this forum, it helps illustrate the point about...
by lawman3966
Sun Jun 22, 2014 9:23 pm
 
Forum: Personal Consumer Issues
Topic: Retired Bogleheads want to relocate to California
Replies: 109
Views: 6877

Re: Retired Bogleheads want to relocate to California

I checked out housing prices in Riverside county after a friend of mine moved to CA. He came into to some money and initially bought a $400K home near Palm Springs. A few years later, he opted to downsize and moved into a much smaller place in Morongo Valley, which cost under $100K. It's only about ...
by lawman3966
Sun Jun 22, 2014 12:26 pm
 
Forum: Personal Consumer Issues
Topic: Retired Bogleheads want to relocate to California
Replies: 109
Views: 6877

Re: Update and New Question on getting away from bad 401k

Why are Fidelity and Lincoln's fees 5x higher than Employee Fiduciary's? For the same reason the Red Cross would get less net blood collection if Dracula were the middle man - because the middleman wants as much of the material as possible. Am I mistaken about what EF would seem to charge? Does any...
by lawman3966
Mon Jun 16, 2014 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Update and New Question on getting away from bad 401k
Replies: 7
Views: 597

Re: Need Guidance with choosing an investment professional

My apologies for the lack of clarity on some things. I am a healthcare professional and am planning to start a recruiting business for the healthcare industry. I am employing two people and I would like to offer the option of contributing to a 401k or a SIMPLE IRA. I honestly don't have time to loo...
by lawman3966
Mon Jun 16, 2014 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need Guidance with choosing an investment professional
Replies: 17
Views: 1197

Re: Buying a new mattress and bedding

I moved to air mattresses about twenty years ago, and currently sleep on a mattress from Air Beds Unlimited (ABU). I prefer Air Bed Unlimited's product to what I used to get from Select Comfort, though the latter's product might have improved in the last few years. I am generally happy with ABU, but...
by lawman3966
Sun Jun 15, 2014 9:53 am
 
Forum: Personal Consumer Issues
Topic: Buying a new mattress and bedding
Replies: 36
Views: 2750

Re: How can this be legal (employers over-riding employee 40

http://www.bloomberg.com/news/2014-06-11/they-just-re-invested-your-401-k-for-you-for-your-own-damn-good.html Basically, employers now feel like they can change your selections in your 401(k) "for your own good." Sure they notify you, and you can opt out, but still highly offensive. I am ...
by lawman3966
Sat Jun 14, 2014 6:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: How can this be legal (employers over-riding employee 401k)
Replies: 23
Views: 1767

Re: Frustration with medical providers

I've had health coverage through my employer for all of my adult life, but now I have no health coverage. Its by choice, out of principle, I don't need lectures. I recently had a physical, and the doctor ordered a stress test off site. Someone called to schedule, I said "how much will it cost?...
by lawman3966
Fri Jun 13, 2014 5:45 pm
 
Forum: Personal Consumer Issues
Topic: Frustration with medical providers
Replies: 24
Views: 1740

Re: Target Date Funds in 401(k)

Since Suze didn't explain her reasoning, it's hard to know why she opposes a concept so general as a target date fund. All this hybrid fund really refers to is a mix of stock and bond funds that is presumably adjusted for the investor's age. I avoided using them in my 401K because I had funds distri...
by lawman3966
Wed Jun 11, 2014 5:22 pm
 
Forum: Investing - Theory, News & General
Topic: Target Date Funds in 401(k)
Replies: 20
Views: 1749

Re: Excluding Soc. Sec. from AA means over invested in bonds

I think that Bogle is correct. It's possible that most Bogleheads disagree, but I can think nothing more Bogleheadish than John Bogle himself. The above example comparing two hypothetical twins helps make my point. We will assume that the twins are 65 years old and retiring now. As I understand the ...
by lawman3966
Tue Jun 10, 2014 9:46 pm
 
Forum: Investing - Theory, News & General
Topic: Excluding Soc. Sec. from AA means over invested in bonds?
Replies: 11
Views: 1180

Re: Retirement Planning with and w/o SS

Is that the missing piece of the puzzle here? We'd delay payments until closer to 67 regardless of age of retirement. My wife's earning history has matched my own, anything I'd get she'd get as well. I just wanted to follow up on my earlier post and provide a more complete picture. I believe that y...
by lawman3966
Tue Jun 10, 2014 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning with and w/o SS
Replies: 27
Views: 2673

Re: Should I move from Fidelity to Vanguard?

Yes, for at least part of your money. I also think there's some advantage to having accounts at both. Like another poster above, I noticed that Vanguard had significantly lower ERs for bond funds. However, one consideration I haven't seen mentioned above is that reimbursement of investors for unauth...
by lawman3966
Mon Jun 09, 2014 10:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I move from Fidelity to Vanguard?
Replies: 44
Views: 3586

Re: Retirement Planning with and w/o SS

Some of us have paid the maximum into Social Security and expect close to the maximum benefits. Note, however, that if you retire at 50, you will not have 35 years of top earnings and your benefit will be lower than you are now calculating. Victoria I believe the above to be incorrect. The ability ...
by lawman3966
Mon Jun 09, 2014 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning with and w/o SS
Replies: 27
Views: 2673

Re: Help with career - Financial Advisor!

Hi Bogleheads, I live in Canada and I have been aspiring to become a financial advisor but before diving into that career path I wanted to hear opinions on this industry from you guys. Iv'e always had a passion for investing and i love helping other, so i figured why not choose this career path. An...
by lawman3966
Sun Jun 08, 2014 1:36 am
 
Forum: Investing - Theory, News & General
Topic: Help with career - Financial Advisor!
Replies: 8
Views: 819

Re: Social Security at 66 vs. 70: A Bird in the Hand?

This sounds very reasonable on its face. I do not see any aspects of taxes addressed though. I have always wondered why it would appear that one should benefit from waiting. Why would that be offered? While jogging this weekend, one of the financial radio guys (I think Edelman) said something like ...
by lawman3966
Mon Jun 02, 2014 6:47 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 66 vs. 70: A Bird in the Hand?
Replies: 54
Views: 4052

Re: What jobs are easy to get and pay well? Unpleasant is f

[OT comments removed]

Speaking actionably, cab driving, truck driving and oil field work come to mind. If you have the academic background for it, tutoring is enjoying significant growth, and usually does not require any lengthy certification process as full time teaching does.
by lawman3966
Mon Jun 02, 2014 10:34 am
 
Forum: Personal Finance (Not Investing)
Topic: [short term job that's] easy to get and pays well?
Replies: 44
Views: 4940

Re: Retirement Calculator ?

There is an upgraded version of Firecalc at the link below. http://www.cfiresim.com/input.php You could also try one of the retirement calculators at Financial Mentor. I have read various helpful items on this site. http://financialmentor.com/calculator/retirement-calculator I like cfiresim.com beca...
by lawman3966
Sat May 31, 2014 10:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Calculator ?
Replies: 14
Views: 1761

Re: Question for renters that are happily renting..

Due to my job location having moved frequently in the last decade or so, I not only rent, I have been renting rooms rather than apartments for the last three years. This carries the flexibility to an even greater level. I have managed to avoid signing leases, and thus rent month to month. I save on ...
by lawman3966
Tue May 27, 2014 7:01 pm
 
Forum: Personal Consumer Issues
Topic: Question for renters that are happily renting..
Replies: 44
Views: 6739

Re: You know you're a Boglehead when ...

sschullo wrote:The moment you realize that you want to be just like Taylor when you grow up.


Moreover, you assume that the name "Taylor" without further detail refers to Taylor Larimore, not Taylor Swift.
by lawman3966
Sat May 24, 2014 11:56 am
 
Forum: Local Chapters and Bogleheads Community
Topic: You know you're a Boglehead when ...
Replies: 105
Views: 15843

Re: Paying of debt after Father in Laws death

I would recommend getting legal advice. :thumbsup After taking a course in Trusts and Estates in Law school, our professor told us we knew just enough to be dangerous. For that very reason, I second the suggestion to seek legal advice. At first glance, it may appear as though you need to liquidate ...
by lawman3966
Fri May 23, 2014 1:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying of debt after Father in Laws death
Replies: 27
Views: 3093

Re: Stock Market to Plunge? What a friend said.

A friend told me the same thing, several times, over a period of time. He said it when the S&P was at 1300, again at 1400, than again with more passion at 1500, and with increasing alarm as the index reached 1600. One day, he'll be right. But, by then, he will have missed out on about $125K wort...
by lawman3966
Wed May 14, 2014 12:46 pm
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6129

Home Ownership a Financial Threat to Seniors

It seems that the impact of the housing crash will last longer than most originally thought. While the article omits some useful data (such as the wealth of owners vs renters), this still seems like substantial evidence that over-reliance on home equity as a form of retirement wealth is a dangerous ...
by lawman3966
Fri May 09, 2014 2:46 pm
 
Forum: Investing - Theory, News & General
Topic: Home Ownership a Financial Threat to Seniors
Replies: 11
Views: 1852

Re: What our company's 401k Advisor said about 1.5% Fees

Is this B.S.? his response .......... you aint getting those funds under 401k with those low expense rates. If you did, those rates would be MUCH MUCH higher. Your advisor is wrong, but serving his own interests well, which is no surprise. By the way, from what you've said above, it is entirely pos...
by lawman3966
Tue May 06, 2014 5:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: What our company's 401k Advisor said about 1.5% Fees
Replies: 113
Views: 15016
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