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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 2:44 pm
 
Forum: Personal Consumer Issues
Topic: About to Order my first Mini Cooper S
Replies: 19
Views: 1163

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 10:21 pm
 
Forum: Personal Consumer Issues
Topic: How much should a New Jersey home inspection cost?
Replies: 7
Views: 577

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 9:10 am
 
Forum: Investing - Theory, News & General
Topic: A financial “guru” for world travelers?
Replies: 18
Views: 1978

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 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renting forever: financial suicide?
Replies: 90
Views: 9449

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 2:13 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey still defending 12% and still angry at "nerds"
Replies: 194
Views: 22347

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 1:01 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey still defending 12% and still angry at "nerds"
Replies: 194
Views: 22347

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 11:42 am
 
Forum: Investing - Help with Personal Investments
Topic: How to give advice when you don't know much.
Replies: 33
Views: 1361

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 6:40 pm
 
Forum: Investing - Theory, News & General
Topic: Why would anyone buy a deferred income annuity?
Replies: 59
Views: 4590

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 1:16 am
 
Forum: Investing - Theory, News & General
Topic: Suze Orman - Doesn't Like Target Date Funds
Replies: 26
Views: 3667

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: 67
Views: 4244

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: 27
Views: 3540

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: 2765

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: 337

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: 1485

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: 3268

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: 2770

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: 1824

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: 1267

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: 1267

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: 3806

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: 1539

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: 1243

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: 2734

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: 97
Views: 8065

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: 97
Views: 8065

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: 651

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: 3397

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: 5068

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: 7508

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: 2461

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: 1189

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: 700

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: 17518

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: 700

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: 7508

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: 703

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: 1759

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: 6976

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: 6976

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: 604

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: 1310

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: 2832

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: 1780

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: 1750

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: 1766

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: 1192

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: 2684

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: 3635

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: 2684

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: 835
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