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Re: 401(k) Plan Administrator Career Path

While I'm not an administrator, I can address some of what you've asked about. At small firms I've worked at in the past, there was cast of characters in the 401K system, of which the administrator was just one. There was the sponsor (the employer), the provider (usually a financial company, that of...
by lawman3966
Mon Mar 23, 2015 5:53 pm
 
Forum: Investing - Theory, News & General
Topic: 401(k) Plan Administrator Career Path
Replies: 7
Views: 944

Re: What would YOU want from a financial advisor?

To promise not to get violent when I have him removed from my employer's 401K plan, so that the employees, rather than the advisor, can accumulate wealth from the employees' investment capital.
by lawman3966
Tue Mar 10, 2015 8:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: What would YOU want from a financial advisor?
Replies: 28
Views: 2265

Re: Protect rollover IRA from potential lawsuit

In case it helps, the following is a state by state summary of the protection of IRA and Roth IRA accounts.

http://www.aicpa.org/Publications/taxad ... achart.pdf
by lawman3966
Sat Mar 07, 2015 2:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Protect rollover IRA from potential lawsuit
Replies: 41
Views: 4099

Re: Can my friend retire at 30 with 800K saved?

The way you've asked the question, it can be answered only conditionally, based on what happens in her relationship. If the relationship ends, with no further contribution of wealth to her from her ex, I'd say that $800K is not enough to retire on at age 30, let alone retire, AND raise a child with....
by lawman3966
Sat Mar 07, 2015 2:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can my friend retire at 30 with 800K saved?
Replies: 19
Views: 2327

Re: not sure about my adviser

Isn't my advisor going to call me and ask "What happened?" Doesn't there have to be some kind of formal closure with the FA? When I transferred my investments from an expensive 401K plan to Vanguard, I never had to speak to the advisor or any administrator for the 401K plan. Once VG proce...
by lawman3966
Thu Mar 05, 2015 12:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: not sure about my adviser
Replies: 68
Views: 5548

Re: not sure about my adviser

In addition to listing the ERs for each fund, also list the Loads (front and/or back end loads). The incentive for churning your account (40 trades for a retirement portfolio is churning in my book) is not the $30 trading fee, it's more likely the load you pay each time money is moved into a new fun...
by lawman3966
Thu Mar 05, 2015 9:47 am
 
Forum: Investing - Help with Personal Investments
Topic: not sure about my adviser
Replies: 68
Views: 5548

Re: US citizen vs green card

I think the answer ultimately depends on which country you expect to spend the rest of your life in. If you and she intend to remain in the U.S., getting citizenship seems like the right way to go. If she or both of you intend to move to Canada, getting U.S. citizenship can cause problems later on. ...
by lawman3966
Tue Mar 03, 2015 5:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: US citizen vs green card
Replies: 37
Views: 3645

Re: Music / Song Help

"The Spirit of New Orleans" by Arlo Guthrie

"Victoria" by the Kinks.

"Banana Republics" by Jimmy Buffett (who usually gets lower billing than the other Buffett on this forum).
by lawman3966
Fri Feb 20, 2015 7:29 pm
 
Forum: Personal Consumer Issues
Topic: Music / Song Help
Replies: 52
Views: 2372

Re: 3-1/3% SWR = you can manage it by intuitive household bu

While a 3.33% WR seems reasonable, I don't know that it reaches some particular threshold level of safety that 3.5% or other WR fails to achieve. It appears that the most reliable way to have this WR work would be to form a TIPS ladder and stick to an inflation-adjusted spending rate. The success of...
by lawman3966
Thu Feb 19, 2015 9:44 pm
 
Forum: Investing - Theory, News & General
Topic: 3-1/3% SWR = you can manage it by intuitive household budget
Replies: 40
Views: 3649

Re: US citizen vs green card

As a Canadian-born, one-time green card holder who became a dual citizen in 1997, my advice would be to err on the side of preserving green card status, unless there's a compelling reason to become a U.S. citizen - such as a job that requires this status. To my knowledge, there's no hindrance collec...
by lawman3966
Fri Jan 30, 2015 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: US citizen vs green card
Replies: 37
Views: 3645

Re: Cell phone usage while visiting Canada

It's not clear whether you plan to bring your Sprint phone to Canada with you. A Sprint rep told me in 2011 that watching a 3-minute youtube video while visiting Toronto would cost me about $60 U.S. Thus, you have to be very careful when traveling with a US-based cell phone. I wish I knew as much ab...
by lawman3966
Thu Nov 27, 2014 10:41 pm
 
Forum: Personal Consumer Issues
Topic: Cell phone usage while visiting Canada
Replies: 10
Views: 1836

Investing in IPOs / Risks, Warnings?

A friend of a friend has put me in touch with someone whose company works on IPOs for various emerging companies. I expect to be offered the opportunity to invest in one or more IPOs, prior to the company going public. The participants have so far spoken of the large potential gains, indicating that...
by lawman3966
Sun Nov 16, 2014 4:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing in IPOs / Risks, Warnings?
Replies: 10
Views: 648

Re: Air Purifier for Allergies

I see that someone else has already recommended the Austin Air Healthmate. I purchased one of these upon first moving to Dallas in the late 90s. It made the difference between being continously allergic at the level of an incurable common cold, and feeling completely well. Whether other units have s...
by lawman3966
Tue Sep 16, 2014 10:18 pm
 
Forum: Personal Consumer Issues
Topic: Air Purifier for Allergies
Replies: 29
Views: 2473

Re: Local Mover Selection

*Bump.
by lawman3966
Sat Sep 13, 2014 3:56 pm
 
Forum: Personal Consumer Issues
Topic: Local Mover Selection
Replies: 8
Views: 520

Local Mover Selection

I'm choosing from two possible movers for a local move, more accurately a move of stuff from a home into a cargo trailer. One is a national company (Elite Moving Labor, in case anyone has direct experience with them) that franchises its work using local movers. This company is registered with the BB...
by lawman3966
Sat Sep 13, 2014 7:29 am
 
Forum: Personal Consumer Issues
Topic: Local Mover Selection
Replies: 8
Views: 520

Re: roll pension over to Trad. IRA in this situation?

Assuming you will have an average expected longevity, it appears to me that #3 is clearly the best choice, especially if your other investments and income can cover you for the next 15 years and you can get your insurance through alternative means. I did quick calculations of total payout: retire a...
by lawman3966
Sat Sep 06, 2014 9:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: roll pension over to Trad. IRA in this situation?
Replies: 8
Views: 533

Re: My early 30's Ameriprise portfolio

1. Could you simply offer high-level feedback on the existing fund lineup? My real feelings are unprintable. My feedback is to move the whole thing into 3-4 low-fee index funds at Vanguard. 2. Do you see any overlap or needless complexity? Yup, big time. 3. How best to compare this to the appropria...
by lawman3966
Tue Sep 02, 2014 10:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: My early 30's Ameriprise portfolio - UPDATE
Replies: 45
Views: 5228

Re: Wrong state tax withheld, over $1000 extra tax!

I will answer based on my own experience, but can't guarantee that this applies in your case. When I earned money in two states in one year (both of which had state income tax), I filled out partial-year income tax returns for both states. As I recall, the earned income was taxed only by the state t...
by lawman3966
Fri Aug 29, 2014 10:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wrong state tax withheld, over $1000 extra tax
Replies: 10
Views: 1028

Re: Help - 401k Plan at Work Switching From Fidelity to JH

Once you see the fund lineup, you should be able to pick the funds that closest to being Vanguard-like index funds, and opt for them. For the purpose of selecting among the funds in the JH plan, picking the funds with index-like investing strategies and the lowest fees is all you can do. However, mo...
by lawman3966
Fri Aug 29, 2014 12:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help - 401k Plan at Work Switching From Fidelity to JH
Replies: 11
Views: 1085

Re: Only need $315k non-retirement $ to retire at Age 43?

As noted above, you need to adjust for inflation. That said, I think $400K in retirement accounts and $315K in taxable is actually enough for a 43-year-old single person to retire to a modest standard of living (~$30K/year), assuming one is eligible for Social Security. Keep in mind, you'll likely ...
by lawman3966
Thu Aug 28, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Only need $315k non-retirement $ to retire at Age 43?
Replies: 36
Views: 5529

Seeking New Mobile Service Provider

I'll be moving from NJ to Colorado next month, and am exploring my options regarding mobile service providers. I currently have a simple/cheap Verizon prepaid phone which I got because my 2011 vintage Spring Evo smartphone had bad reception in this area (central Jersey). And, I still have my Sprint ...
by lawman3966
Mon Aug 25, 2014 8:51 am
 
Forum: Personal Consumer Issues
Topic: Seeking New Mobile Service Provider
Replies: 5
Views: 536

Re: About to Order my first Mini Cooper S

Can't respond to the color question. However, when I faced this issue, selling a used manual transmission vehicle proved to be very difficult. Dealers pretty much refused to even look at it. I had ads running in various places in the Boston area for weeks without a response. I ended up keeping it an...
by lawman3966
Tue Aug 19, 2014 1:44 pm
 
Forum: Personal Consumer Issues
Topic: About to Order my first Mini Cooper S
Replies: 19
Views: 1336

Re: How much should a New Jersey home inspection cost?

I don't know if a "special" inspection is needed. However, hiring a high quality inspector, preferably one who is not recommended by a real estate agent, can be extremely valuable. NJ may be full of old houses, but it isn't necessarily full of objective home inspectors. I have heard that s...
by lawman3966
Tue Aug 12, 2014 9:21 pm
 
Forum: Personal Consumer Issues
Topic: How much should a New Jersey home inspection cost?
Replies: 7
Views: 643

Re: A financial “guru” for world travelers?

I'll confess to not having read the article you linked to. However, having an acquaintance who day trades has given me a little insight into this world. He mentioned that he had to migrate from one market sector to another as other day traders did the same. In other words, the day traders largely tr...
by lawman3966
Tue Aug 12, 2014 8:10 am
 
Forum: Investing - Theory, News & General
Topic: A financial “guru” for world travelers?
Replies: 18
Views: 2161

Re: Renting forever: financial suicide?

There are many reasons why it's not financial suicide to be a lifelong renter. I will turn to the specific issue of buying a 1-br condo now, as I'm sure people smarter than me will chime in later with all sorts of more detailed financial data. I think it would be a major error to buy a place, just t...
by lawman3966
Mon Aug 11, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renting forever: financial suicide?
Replies: 92
Views: 11868

Re: Dave Ramsey still defending 12% and still angry at "nerd

See, the thing is, on this excellent forum, there are members who will wrangle to the death about an invisible-to-the-naked-eye percentage point in an expense ratio or how to slice and dice their 3% of small cap value - and it's not likely either of those things will matter a hill of beans to the f...
by lawman3966
Sun Aug 10, 2014 1:13 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey still defending 12% and still angry at "nerds"
Replies: 194
Views: 24954

Re: Dave Ramsey still defending 12% and still angry at "nerd

See, the thing is, on this excellent forum, there are members who will wrangle to the death about an invisible-to-the-naked-eye percentage point in an expense ratio or how to slice and dice their 3% of small cap value - and it's not likely either of those things will matter a hill of beans to the f...
by lawman3966
Sun Aug 10, 2014 12:01 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey still defending 12% and still angry at "nerds"
Replies: 194
Views: 24954

Re: How to give advice when you don't know much.

The pressure to buy within a limited time frame is nearly always a surefire sign of bad intentions on the part of the salesperson. The only real "rush" present here is for the salesman to get a commission before her client gets wise to the scam, and wisely decides not to fall for it. This ...
by lawman3966
Wed Aug 06, 2014 10:42 am
 
Forum: Investing - Help with Personal Investments
Topic: How to give advice when you don't know much.
Replies: 33
Views: 1546

Re: Why would anyone buy a deferred income annuity?

Browser For many deferred annuities make much more sense than immediate--why buy longevity insurance for the period it's not needed? Only need it if live longer than expected. Larry The question isn't why longevity insurance, in theory, makes sense. The issue is whether there the actual product rea...
by lawman3966
Mon Aug 04, 2014 5:40 pm
 
Forum: Investing - Theory, News & General
Topic: Why would anyone buy a deferred income annuity?
Replies: 59
Views: 5321

Re: Suze Orman - Doesn't Like Target Date Funds

Totally Surprised. In my opinion she is an entertainer. Are serious individual investors watching and listening to her? Just asking. Thanks for reading. Your comment remind me of Adlai stevenson's famous remark in response to someone saying that a speech of his would win the votes of all thinking A...
by lawman3966
Mon Aug 04, 2014 12:16 am
 
Forum: Investing - Theory, News & General
Topic: Suze Orman - Doesn't Like Target Date Funds
Replies: 26
Views: 4707

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 8:52 am
 
Forum: Investing - Theory, News & General
Topic: ? Best simple reference to dissuade a day trader
Replies: 67
Views: 4915

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 12:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I become a CFP?
Replies: 27
Views: 3786

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 10:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling House - Do We Need a Listing Broker?
Replies: 61
Views: 3042

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 9:27 am
 
Forum: Personal Finance (Not Investing)
Topic: 401k website evaluation
Replies: 5
Views: 351

Re: 2 days in Portland, suggestions?

I enjoyed, and recommend, the Heathman hotel restaurant and bar.
by lawman3966
Tue Jul 22, 2014 3:34 pm
 
Forum: Personal Consumer Issues
Topic: 2 days in Portland, suggestions?
Replies: 34
Views: 1867

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 10:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Helping My Grandmother
Replies: 54
Views: 3453

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 12:18 am
 
Forum: Personal Consumer Issues
Topic: How much energy does water heater use when I'm not home?
Replies: 32
Views: 2913

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 12:26 pm
 
Forum: Investing - Theory, News & General
Topic: Withdrawal Rate and Net Worth
Replies: 16
Views: 1866

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 12:12 am
 
Forum: Investing - Theory, News & General
Topic: Tax-Conscious Retirement and Roth Conversion Calculator
Replies: 11
Views: 1315

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
Mon Jul 14, 2014 11:02 pm
 
Forum: Investing - Theory, News & General
Topic: Tax-Conscious Retirement and Roth Conversion Calculator
Replies: 11
Views: 1315

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 10:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Another reason I am my own advisor
Replies: 15
Views: 4054

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 10:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Why do companies put up with high expense 401k choices?
Replies: 15
Views: 1612

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 10:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Employee Fiduciary] Question
Replies: 10
Views: 1284

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 11:02 am
 
Forum: Investing - Theory, News & General
Topic: Is Market on "Wrong Side of History"?
Replies: 22
Views: 2775

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 9:57 am
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 9960

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 9:52 pm
 
Forum: Investing - Theory, News & General
Topic: US citizens abroad cannot invest through [Fidelity]
Replies: 97
Views: 9960

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 9:56 pm
 
Forum: Investing - Theory, News & General
Topic: Inflation adjustment of one's "number" and TIPS
Replies: 4
Views: 674

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 4:33 pm
 
Forum: Investing - Theory, News & General
Topic: "Only a fraction of Americans directly own stocks"
Replies: 27
Views: 3482

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 11:39 am
 
Forum: Investing - Theory, News & General
Topic: Just retired...any reason to move 401K to IRA?
Replies: 50
Views: 5530

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 12:03 pm
 
Forum: Investing - Theory, News & General
Topic: NY Times: Not enough younger investment advisors
Replies: 72
Views: 8065
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