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Re: The dangerous practice of rebalancing...

You aren't taking the same risk if the market tanks and, as a result, you transfer money from your safe reserve (bonds) into the riskier asset (stocks). Now the balance in your safe reserve has been drawn down. How can you have the same level of safety with your portfolio that you had before? If st...
by leonard
Wed Sep 17, 2014 8:53 pm
 
Forum: Investing - Theory, News & General
Topic: The dangerous practice of rebalancing...
Replies: 182
Views: 12086

Re: Can You Build Your Retirement Portfolio Young, then Coas

It's great to save money. It's wonderful to be frugal. By all means, save as much as you can while young, because it will pay off exponentially when you're older. That said, don't become such a cheapskate that you forget to enjoy life. You're only young once, and an occasional splurge is well worth...
by leonard
Wed Sep 17, 2014 8:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can You Build Your Retirement Portfolio Young, then Coast?
Replies: 57
Views: 6722

Re: Do you plan trips on your own or use a [travel agent]?

Set a budget.
Set an itinerary.
Book according to itinerary - negotiating prices directly to save money.

Not seeing how a travel agent adds value when the internet will turn up more options than they will.
by leonard
Wed Sep 17, 2014 8:33 pm
 
Forum: Personal Consumer Issues
Topic: Do you plan trips on your own or use a [travel agent]?
Replies: 36
Views: 1504

Re: Most cost effective means of protecting physical assets

When someone is entering your home uninvited - you have no idea if they intend to (1) harm someone, or (2) steal something. Or, perhaps both. Since you don't know, you have to plan for the worst case scenario. And, I don't think anyone sees "health insurance" as a proper mitigation for bei...
by leonard
Tue Sep 16, 2014 10:39 pm
 
Forum: Personal Consumer Issues
Topic: Most cost effective means of protecting physical assets
Replies: 50
Views: 3933

Re: Guidance moving to Seattle

I talked to my daughter, who lives in Seattle, about the "Seattle Freeze". Not so sure it isn't the same everywhere: people on their cells or tablets, listening to music, etc while riding the bus---so no conversations. However she suggested going to Meetup.com, and there's actually a grou...
by leonard
Tue Sep 16, 2014 10:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Guidance moving to Seattle
Replies: 21
Views: 1925

Re: Feeling smug until 10 year ROR from Vanguard

As long as you kept cash invested (no cash drag) in low cost indexes - your received precisely the return you should for your asset allocation. Why would someone feel anything but satisfied that they achieved the market return of their AA? Again, assuming they kept cash invested with no cash drag. ...
by leonard
Tue Sep 16, 2014 10:15 pm
 
Forum: Investing - Theory, News & General
Topic: Feeling smug until 10 year ROR from Vanguard
Replies: 78
Views: 7182

Re: The Annuity Puzzlement

Also, I have never understood - and will never understand - why people are willing to take market risk for decades to build up a portfolio. Then, give a big chunk of it away at the end in form of a risk premium payment to an insurance company. I don't understand what changes so drastically in someo...
by leonard
Tue Sep 16, 2014 10:12 pm
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 91
Views: 5484

Re: Meetings over the lunch hour, taboo?

I prefer to work through lunch anyway and leave an hour earlier. Another strategy - eat your personal lunch at 11 or 11:30p. People in the office will get used to that and not interrupt you as much in the 11 am hour. Then, they go to lunch at noon - leaving that period relatively uninterrupted. I fo...
by leonard
Tue Sep 16, 2014 11:42 am
 
Forum: Personal Consumer Issues
Topic: Meetings over the lunch hour, taboo?
Replies: 46
Views: 3839

Re: The Annuity Puzzlement

Things can change over the term of the contract - do you really think an insurance company will necessarily stay viable for the 30 years or so it's paying out money? Are you really willing to bet on that up front? Also, I have never understood - and will never understand - why people are willing to ...
by leonard
Sat Sep 13, 2014 2:38 pm
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 91
Views: 5484

Re: Feeling smug until 10 year ROR from Vanguard

As long as you kept cash invested (no cash drag) in low cost indexes - your received precisely the return you should for your asset allocation. Why would someone feel anything but satisfied that they achieved the market return of their AA? Again, assuming they kept cash invested with no cash drag. T...
by leonard
Sat Sep 13, 2014 2:17 pm
 
Forum: Investing - Theory, News & General
Topic: Feeling smug until 10 year ROR from Vanguard
Replies: 78
Views: 7182

Re: treating all investment accounts as one pool of money

I have read on here before that one should treat all investment accounts as a single pool of money for the purposes of asset allocation. Some even say that "all" accounts, even a cash savings account, should also be lumped into this single pool of money. I am having trouble understanding ...
by leonard
Sat Sep 13, 2014 2:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: treating all investment accounts as one pool of money
Replies: 26
Views: 2310

Re: VDE [for 5% "casino money"?]

If the boglehead approach makes sense for your investing - it makes sense for 100% of you portfolio. The 5% investment in Other stuff strikes me as irrational - if one generally thinks the BH approach is correct.
by leonard
Sat Sep 13, 2014 1:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: VDE [for 5% "casino money"?]
Replies: 11
Views: 947

Re: Costco vs Amazon?

Be cautious or outright avoid at costco: "fresh" berries (several times we have purchased blueberries and strawberries that have molded in a day or two; we simply don't buy fresh berries from costco now), some fresh veggies (bags of asparagus seem like a good deal, but they ended up being...
by leonard
Thu Sep 11, 2014 5:43 pm
 
Forum: Personal Consumer Issues
Topic: Costco vs Amazon?
Replies: 60
Views: 4524

Re: How much value can an advisor add for the average invest

Yes people would/could be better off if they took the time to understand and do it themselves, but the facts are that most won't. That is the fundemental disagreement we are having here. Beyond that, people knowing what to do is still only a minor part of the solution. Actually following through co...
by leonard
Thu Sep 11, 2014 5:17 pm
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 4595

Re: How much value can an advisor add for the average invest

If I tell a client to go read "Common Sense on Mutual Funds" and do it themselves, they will not do it and most likely go find another advisor to work with. If someone asks me advice on how they can become more knowledgeable and learn more about investing I always point them in the direct...
by leonard
Thu Sep 11, 2014 4:20 pm
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 4595

Re: Costco vs Amazon?

We have 2 people in our household - but still manage to find great deals at costco for eggs, greek yogurt, low carb wraps, pine nuts, cheeses (great selection of cheeses at a reasonable price), frozen berries, protein powder, snacks, gum, all vitamins, and clothing (great deals on everyday clothes)....
by leonard
Thu Sep 11, 2014 4:16 pm
 
Forum: Personal Consumer Issues
Topic: Costco vs Amazon?
Replies: 60
Views: 4524

Re: invest in this 401K or not

I was saving my time and believing that people would actually believe me that the Vanguard index funds have the same low ERs as they should. WRONG! My question is whether the $4.50 trustees fee that was assessed in August even when investing in the low ER Vanguard index funds still makes this worth...
by leonard
Thu Sep 11, 2014 3:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: invest in this 401K or not
Replies: 22
Views: 1041

Re: New Roof Needed Soon... Advice?

Throw leaf guard gutters on there while you are at it. I thought houses in the Midwest could not have rain gutters on the roof due to the ice-dam effects from winter blizzards. Has that changed? I have no idea. How do we know this is midwest. I only saw "Northern US" - which could be paci...
by leonard
Thu Sep 11, 2014 3:51 pm
 
Forum: Personal Consumer Issues
Topic: New Roof Needed Soon... Advice?
Replies: 48
Views: 2924

Re: invest in this 401K or not

I have maxed out my Roth IRA for 2014. I currently work at a contract job. The 401K fees appear to be outrageous. I paid $4.50 for the month of August. There is no company match. I talked about this previously. http://www.bogleheads.org/forum/viewtopic.php?f=1&t=146456 What are my other options...
by leonard
Thu Sep 11, 2014 3:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: invest in this 401K or not
Replies: 22
Views: 1041

Re: New Roof Needed Soon... Advice?

metal roof. I wish we had done that when we replaced ours 12 years ago. It's worth it to never have to think about it again - assuming its installed right.

Throw leaf guard gutters on there while you are at it.
by leonard
Thu Sep 11, 2014 3:44 pm
 
Forum: Personal Consumer Issues
Topic: New Roof Needed Soon... Advice?
Replies: 48
Views: 2924

Re: How much value can an advisor add for the average invest

Because the "average investor" doesn't WANT to understand even the very basics you need to know to be a Boglehead. We take for granted on this board that everyone here is very knowledgeable and even the relatively clueless people here are actually a lot more knowledgeable about investing ...
by leonard
Thu Sep 11, 2014 3:39 pm
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 4595

Re: When to jump ship?

Analogies are unnecessarily complicated and lead people to discuss the analogy and NOT the actual question. So, why not just ask the actual question? Because those who wish to participate (NO ONE is forced), and responded in the form of analogies, can put in their 2¢ to answer the question just the...
by leonard
Thu Sep 11, 2014 3:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: When to jump ship?
Replies: 42
Views: 4814

Re: invest in this 401K or not

I have maxed out my Roth IRA for 2014. I currently work at a contract job. The 401K fees appear to be outrageous. I paid $4.50 for the month of August. There is no company match. I talked about this previously. http://www.bogleheads.org/forum/viewtopic.php?f=1&t=146456 What are my other options...
by leonard
Thu Sep 11, 2014 3:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: invest in this 401K or not
Replies: 22
Views: 1041

Re: How much value can an advisor add for the average invest

Before taxes - it's easy - EASY - to get the index return less a very very low ER. So, very close to index return - by buying low cost indexed returns in an Asset Allocation, and rebalancing according to a schedule. So, you think it's a good idea for someone to give away a quarter or a third of the...
by leonard
Thu Sep 11, 2014 3:14 pm
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 4595

Re: How much value can an advisor add for the average invest

Before taxes - it's easy - EASY - to get the index return less a very very low ER. So, very close to index return - by buying low cost indexed returns in an Asset Allocation, and rebalancing according to a schedule. So, you think it's a good idea for someone to give away a quarter or a third of thei...
by leonard
Wed Sep 10, 2014 9:39 pm
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 4595

Re: Would you quit over the pretend boss

I'm usually very diplomatic and not say outright no to a project. The COO lost my trust February. BUT as an employee I should be polite to him. I do think it is a good idea, to take the project requests down and ask the CIO if he wants me change direction instead of flat out say no. Next performanc...
by leonard
Wed Sep 10, 2014 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you quit over the pretend boss
Replies: 33
Views: 2975

Re: bogleheads - can I scale it back?

what are you spending $7-$8k on?

Personally, before I scaled back to much - I'd make sure I understood where the money is going. That seems like a lot of spending.

As an exercise, you might keep a detailed spending records for a month or 2 - just to ensure you have a handle on spending.
by leonard
Wed Sep 10, 2014 3:54 pm
 
Forum: Investing - Theory, News & General
Topic: bogleheads - can I scale it back?
Replies: 34
Views: 4080

Re: Is there a low cost cell phone plan, limited minutes?

I'm looking for a cell phone only plan, 100 minutes or less per month. No 4G service necessary as those options are available to me almost 24/7 these days. I already have iPod, iPad, plenty of availability at work and home. What do folks do if they only want a few hours of cell phone service? I eve...
by leonard
Wed Sep 10, 2014 3:48 pm
 
Forum: Personal Consumer Issues
Topic: Is there a low cost cell phone plan, limited minutes?
Replies: 66
Views: 4162

Re: invest in this 401K or not

I have maxed out my Roth IRA for 2014. I currently work at a contract job. The 401K fees appear to be outrageous. I paid $4.50 for the month of August. There is no company match. I talked about this previously. http://www.bogleheads.org/forum/viewtopic.php?f=1&t=146456 What are my other options...
by leonard
Wed Sep 10, 2014 3:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: invest in this 401K or not
Replies: 22
Views: 1041

Re: How much value can an advisor add for the average invest

Now a key here is that I'm referring to the AVERAGE investor. Not the average Boglehead. An advisor provides very little for a Boglehead. But for someone who knows literally nothing about investment, about stocks, bonds etc except what they read in the headlines, what value can an advisor provide? ...
by leonard
Wed Sep 10, 2014 3:36 pm
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 4595

Re: So far, so good? Vanguard Total International Bond

Does outperformance alone vindicate the strategy?

What about differences in risk? diversification impact of a new asset class? duration differences? etc. etc. etc. Outperformance alone doesn't really answer the question.
by leonard
Wed Sep 10, 2014 3:26 pm
 
Forum: Investing - Theory, News & General
Topic: So far, so good? Vanguard Total International Bond
Replies: 44
Views: 3848

Re: Would you quit over the pretend boss

Exec's don't like being told "no". Also, your manager should be prioritizing your assignments and know everything you are working on. Luckily - it's easy to balance these 2 items. Every time someone like the COO comes to you with a project, get enough information and requirements so that y...
by leonard
Wed Sep 10, 2014 3:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you quit over the pretend boss
Replies: 33
Views: 2975

Re: Guidance moving to Seattle

Never freezes in Seattle. Seattle is a young city. People from everywhere. Get roommates/housemates. This is a networked town. If you can't network, you are frozen. Just left seattle and made acquaintances from a builder from Wis who was setting daughter at college, a investment advisor from Boston...
by leonard
Wed Sep 10, 2014 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Guidance moving to Seattle
Replies: 21
Views: 1925

Re: Take money from investments to get better rate on refi?

Never,ever have PMI on a mortgage or refi. Ever. Not even if the numbers make sense. Had PMI on original mortgage. Increased equity to the point we could get it removed. Getting PMI removed was one of the absolute worst experiences ever. It took months of time. Multiple hoops to jump through - hoops...
by leonard
Wed Sep 10, 2014 2:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Take money from investments to get better rate on refi?
Replies: 14
Views: 653

Re: Cell Phone Plans

We went to pay-as-you-go, Trakphone,-using Verizon network. I HATE bundling and 2 year commitments. Our phones are flip-phones, we don't do data. If we need mobility we use Ipad/Kindles at free WiFi or carry a FreedomPop hotspot mini unit. Yep. Tracphone can bring your monthly cell cost down to aro...
by leonard
Wed Sep 10, 2014 2:22 pm
 
Forum: Personal Consumer Issues
Topic: Cell Phone Plans
Replies: 12
Views: 936

Re: When to jump ship?

I'm taking this at face value and assuming that this is NOT an unnecessarily complicated analogy being substituted for a fairly straight forward market timing question. It's an analogy about when to quit your job and retire... (i.e. jump ship = quit). Scary to do... Do we have enough? Should we sti...
by leonard
Wed Sep 10, 2014 1:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: When to jump ship?
Replies: 42
Views: 4814

Re: The daddy of all grill islands

placeholder wrote:I find the Weber products to be a good combination of price and performance so I have a 22 inch kettle grill (I prefer charcoal) and a Smokey Mountain.


Weird! did we just agree on something? :happy
by leonard
Wed Sep 10, 2014 1:43 pm
 
Forum: Personal Consumer Issues
Topic: The daddy of all grill islands
Replies: 35
Views: 2769

Re: The daddy of all grill islands

Fire magic Webers are fine but not as nice. I have a Vermont which is also nice. I would also say get a green egg. Differential between a Fire Magic and Weber would buy a lot pork shoulder and sir loin to smoke. Weber works great. Yes the price difference is substantial but the op did ask for the d...
by leonard
Wed Sep 10, 2014 12:40 pm
 
Forum: Personal Consumer Issues
Topic: The daddy of all grill islands
Replies: 35
Views: 2769

Re: Needing help with a Vanguard 401k

Guess I'll have to check out Fido since they can do a complete change over of an active 401k account. What do you mean by a "complete change over"? If I'm understanding your rollover question correctly, there is nothing that Fidelity can do that Vanguard can't do. I didn't see the answer ...
by leonard
Wed Sep 10, 2014 12:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Needing help with a Vanguard 401k
Replies: 23
Views: 1430

Re: Needing help with a Vanguard 401k

Watch fees very, very closely on in service withdrawals.

Most 401k Third Party administrators will charge a fee of some kind FOR EACH TRANSFER out of the 401k. So, make sure you understand the fees, how they are charged, and make sure to bundle in-service transfers to large sums.
by leonard
Wed Sep 10, 2014 12:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Needing help with a Vanguard 401k
Replies: 23
Views: 1430

Re: Hiring your kids

I have my own business with 9 employees. We max out every tax advantaged investment option we can as well as maxing out coverdells each year for our kids. I was thinking I would like to hire my kids to do basic stuff around the office and officially pay them as W2 employees so that they could open ...
by leonard
Wed Sep 10, 2014 12:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hiring your kids
Replies: 34
Views: 2098

Re: How much do investors care about social impact?

No. My invested money goes to the counterparty that buys the shares. And that counterparty can use that money for any goal - SR or not. The company itself gets none of the money. So, since my investment doesn't provide money to the "SR" company - it doesn't achieve the goal of SRI. Except...
by leonard
Wed Sep 10, 2014 12:01 pm
 
Forum: Investing - Theory, News & General
Topic: How much do investors care about social impact?
Replies: 32
Views: 1380

Re: Opinions on Social Index Fund (VFTSX)?

Keep in mind your investment in a SRI does not go to the companies. It goes to the countparties of the stock trades. These counterparties may end up spending that money on alcohol, energy inefficient cars or whatever. So, your investment in SRI may actually result in the consumption of more of what...
by leonard
Wed Sep 10, 2014 11:55 am
 
Forum: Investing - Theory, News & General
Topic: Opinions on Social Index Fund (VFTSX)?
Replies: 19
Views: 1512

Re: How much do investors care about social impact?

No. My invested money goes to the counterparty that buys the shares. And that counterparty can use that money for any goal - SR or not. The company itself gets none of the money. So, since my investment doesn't provide money to the "SR" company - it doesn't achieve the goal of SRI.
by leonard
Tue Sep 09, 2014 10:17 pm
 
Forum: Investing - Theory, News & General
Topic: How much do investors care about social impact?
Replies: 32
Views: 1380

Re: Prioritizing: Dream Home vs. Retirement Savings

I'd pick a coast that had less likelihood of the occasional hurricane going through.
by leonard
Tue Sep 09, 2014 7:54 pm
 
Forum: Personal Consumer Issues
Topic: Prioritizing: Dream Home vs. Retirement Savings
Replies: 33
Views: 2058

Re: Jason Zweig: Can peers burn holes in your portfolio?

Tuning out the noise includes all the noise - including friends, acquaintences, coworkers, etc. etc.
by leonard
Tue Sep 09, 2014 1:56 pm
 
Forum: Investing - Theory, News & General
Topic: J. Zweig - smart investors you should follow - bogleheads
Replies: 19
Views: 2444

Re: Managed Fund vs Index Funds of same composition risk com

So I have a question. Say you have an equal investment in a managed fund and index fund that are of the same composition. Do they carry the same risk or is the risk different. Please explain the differences and your *opinion* of much the risk differs. For example: Vanguard Wellesley Income Fund Adm...
by leonard
Tue Sep 09, 2014 1:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Managed Fund vs Index Funds of same composition risk compare
Replies: 6
Views: 527

Re: CPA implies no step-up basis for deceased Dad's stock?

Just call the CPA with your mom on the line.

CPA's work with rules - so there is no need to surmise or interpret implications.
by leonard
Tue Sep 09, 2014 1:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: CPA implies no step-up basis for deceased Dad's stock?
Replies: 10
Views: 1221

Re: If no access to DFA, Small Value worth it?

This is sort of like saying if DFA is "Excellent" at capturing small value and VG or other ETF's are only "great" or "very good". Why would you assume that just because other options are not quite as good as DFA that they aren't good enough to use?
by leonard
Tue Sep 09, 2014 12:55 pm
 
Forum: Investing - Theory, News & General
Topic: If no access to DFA, Small Value worth it?
Replies: 30
Views: 3966

Re: I've been going all tax-deferred, considering to go taxa

I think more details on your debt, spending, and plans are needed to recommend a split. With that income, I would max the SEP and still save in a taxable account. I'll second. With that income, you should be able to do both. If you can't - you are spending too much. It's pretty straightforward. Als...
by leonard
Tue Sep 09, 2014 12:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: I've been going all tax-deferred, considering to go taxable.
Replies: 37
Views: 3479
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