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Re: Life changing decision... advices needed!

Some physicians choose to work very well into their retirement years (I know a few in their late 60s) simply because they love it and are still physically capable of doing that sort of work. I see a specialist who has to be 80 at least. It's quite nice seeing someone with that much experience. my d...
by letsgobobby
Fri Nov 28, 2014 5:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life changing decision... advice needed!
Replies: 47
Views: 4347

Re: Life changing decision... advice needed!

You've highlighted a lot of issues but one thing not discussed explicitly is: why, after years of training for general practice, and additional hard years building a practice: why after all those years are you wanting to change directions completely? I would ask yourself about the excitement of lear...
by letsgobobby
Fri Nov 28, 2014 4:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life changing decision... advice needed!
Replies: 47
Views: 4347

Re: thoughts on NQDC [Non-Qualified Deferred Compensation]

On the other hand the company match is pretty substantial and the income tax deferral on your high income makes the NQDC really attractive. We have a non-governmental 457b available at work which is similar to your plan, but no match. I am only 41 so with luck will continue to work in some capacity ...
by letsgobobby
Fri Nov 28, 2014 1:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: thoughts on NQDC [Non-Qualified Deferred Compensation]
Replies: 7
Views: 697

Re: Investing options for my child

We do Vanguard 2060 in UTMAs for each of our kids. It's so easy, so simple, so cheap. Why don't I do that for myself?
by letsgobobby
Fri Nov 28, 2014 12:45 am
 
Forum: Investing - Help with Personal Investments
Topic: Investing options for my child
Replies: 15
Views: 1239

Re: WA estate tax of 18%

gotta pay the bills somehow... For a married couple the total tax on a $6 million estate is $200,000. It's not wonderful, but that's only 3% of the total and as bsteiner points out, no federal estate tax. It gets ugly above the $6 million for a married couple when the estate tax jumps to 14% from 10...
by letsgobobby
Thu Nov 27, 2014 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: WA estate tax of 18%
Replies: 9
Views: 968

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

It doesn't require moving money from family member to family member to do that. It just requires communication. It does require moving money, though, to benefit from the parents' lower federal income tax rate. For qualified dividends and capital gains, the OP may pay tax at a 23.8% rate (20% capita...
by letsgobobby
Wed Nov 26, 2014 7:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4315

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

how does moving $40k from point a to point b within a closed system increase wealth? Time = 0 Start with $1,000,000 Year 1, add $40,000 to system. Time = 1, you now have $1,000,000 + $40,000 + whatever growth occurred I see nowhere in the equation where moving money from child to parent increased t...
by letsgobobby
Wed Nov 26, 2014 5:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4315

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

Maybe I'm missing something, but it seems to me that this family shares a situation with millions of other families. Why are we looking for a Rube Goldberg solution to a non-problem? Its not a problem. Its an opportunity. And it may be an opportunity for millions of families. What's relatively uniq...
by letsgobobby
Wed Nov 26, 2014 4:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4315

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

I see no advantage to this at all. What am I missing? You're giving your parents money to save. Later they'll give it back to you in an inheritance. How did you increase your net wealth? Why not just save the money yourself? This seems like the law of conservation of energy - the money may change fo...
by letsgobobby
Wed Nov 26, 2014 10:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4315

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

I think the fundamental premise is actually very rational. Ignoring for a moment the exact implementation of the OP, the general idea is that managing a portfolio for two or three generations over 100 years should provide investment opportunities which cannot be exploited in a single generation 50 ...
by letsgobobby
Wed Nov 26, 2014 9:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4315

Re: Investing in 100 Words

"came up a bit"... why yes you did!

Yes I thought about the 5 v 4 problem but thought I'd let it stand as is. My wife's family also "came up" mostly in Texas so ah git it.
by letsgobobby
Wed Nov 26, 2014 8:51 am
 
Forum: Investing - Theory, News & General
Topic: Investing in 100 Words
Replies: 19
Views: 1900

Re: How did you handle the 2008 bear market ?

FreeAtLast wrote:Just like "tigermilk" did.....I was 100% invested in stocks (Vanguard index funds) then.....and recognized a magnificent opportunity to buy equities very cheaply.


If one is 100% invested in stocks, how does one take advantage of this magnificent opportunity one has recognized?
by letsgobobby
Wed Nov 26, 2014 1:25 am
 
Forum: Investing - Theory, News & General
Topic: How did you handle the 2008 bear market ?
Replies: 69
Views: 3705

Re: Investing in 100 Words

and haiku:

save one fifth each year
low cost passive indexes
retire wealthy
by letsgobobby
Wed Nov 26, 2014 1:22 am
 
Forum: Investing - Theory, News & General
Topic: Investing in 100 Words
Replies: 19
Views: 1900

Re: Eat on $4 per day. Free online cookbook.

ok, fine. make me look bad.
by letsgobobby
Tue Nov 25, 2014 6:23 pm
 
Forum: Personal Consumer Issues
Topic: Eat on $4 per day. Free online cookbook.
Replies: 12
Views: 1462

Re: How did you handle the 2008 bear market ?

gkaplan wrote:It seems like we had a similar and lengthy thread on this several weeks ago.

you are not dreaming:

viewtopic.php?f=10&t=151619&p=2271971#p2271851
by letsgobobby
Tue Nov 25, 2014 6:22 pm
 
Forum: Investing - Theory, News & General
Topic: How did you handle the 2008 bear market ?
Replies: 69
Views: 3705

Re: Lamps for S.A.D. problem

This is a medical condition and any advice offered would be against forum policy. Wasn't asking for any medical advice. Just recommendations/experience on a personal consumer product. No different than discussing cars, garden hoses, or socks. Your title says for "SAD" referring to seasona...
by letsgobobby
Tue Nov 25, 2014 4:23 pm
 
Forum: Personal Consumer Issues
Topic: Lamps for S.A.D. problem
Replies: 18
Views: 1705

Re: Lamps for S.A.D. problem

This is a medical condition and any advice offered would be against forum policy.
by letsgobobby
Tue Nov 25, 2014 12:29 am
 
Forum: Personal Consumer Issues
Topic: Lamps for S.A.D. problem
Replies: 18
Views: 1705

Re: Vanguard launches new offering ... [Vanguard merchandise

It's not the loyalty but the mutual structure which prompted my purchases.
by letsgobobby
Mon Nov 24, 2014 10:01 am
 
Forum: Personal Consumer Issues
Topic: Vanguard launches new offering ... [Vanguard merchandise]
Replies: 115
Views: 11251

Re: I Bond Refund Tax Year 2014 $5K Per Return

My plan is to pay it on 15 January, the last day for regular, not extension to file, estimated payments, then file electronically, which I believe I'll be eligible to do, as soon as I'm able. In the past three years, despite delayed filing opportunities (due to late Congressional action) and having...
by letsgobobby
Mon Nov 24, 2014 2:06 am
 
Forum: Investing - Theory, News & General
Topic: I Bond Refund Tax Year 2014 $5K Per Return
Replies: 11
Views: 1079

Re: Vanguard launches new offering ... [Vanguard merchandise

This thead contains so much fluff and all-around general puffery that - Yikes - is clear to me - the next merchandise launch will be - The Vanguard Bed Pillow! Deluxe (but Cheap) Guaranteed that You Will Sleep Well at Night ! Discounts for 4 or More! Hurry, hurry, don't be left out. Tacky, tacky, t...
by letsgobobby
Mon Nov 24, 2014 12:23 am
 
Forum: Personal Consumer Issues
Topic: Vanguard launches new offering ... [Vanguard merchandise]
Replies: 115
Views: 11251

Re: Vanguard launches new offering ... [Vanguard merchandise

I don't invest with Vanguard because they are dignified, rarified, or Kentucky fried. I invest with them because they are cheap. As long as they stay cheap they can make and sell all the baubles and trinkets they want, more in fact if doing so has the effect of attracting more investors and thus low...
by letsgobobby
Sun Nov 23, 2014 5:11 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard launches new offering ... [Vanguard merchandise]
Replies: 115
Views: 11251

Re: Vanguard launches new offering ... [Vanguard merchandise

Tacky. Really tacky. Coffee mugs, teeshirts, ballcaps are appropriate for some things. But a respected mutual funds brand? What does WSJ have to say about this? At first I thought this thread was some sort of practical joke, a hoax. Guess not. :shock: Since when was the WSJ the arbiter of all thing...
by letsgobobby
Sun Nov 23, 2014 2:25 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard launches new offering ... [Vanguard merchandise]
Replies: 115
Views: 11251

Re: Is this 529 abuse?

There is a form. I can't remember if it is the same as lifetime exclusion or not, it was a number of years ago. Thank you for reminding me.
by letsgobobby
Sun Nov 23, 2014 1:13 pm
 
Forum: Investing - Theory, News & General
Topic: Is this 529 abuse?
Replies: 9
Views: 1130

Re: Is this 529 abuse?

You don't have to worry about exceeding a reasonable amount in a 529; the 529 will do that for you. All 529s have upper limits after which growth may continue but no additional funds may be added. That number is typically around $400,000 per beneficiary. The bigger issue as others have said is the g...
by letsgobobby
Sun Nov 23, 2014 10:59 am
 
Forum: Investing - Theory, News & General
Topic: Is this 529 abuse?
Replies: 9
Views: 1130

Re: 529 Plan - when to stop contributing?

we have a 6 year old and $100k in his 529 plan. Thoughts? Keep contributing? much depends on your other financial goals and resources. We didn't contribute this year to our 529s, but plan to again in the future. We have kids age 5 and 7 and they each have about $150k in their 529s. Our goal has bee...
by letsgobobby
Sat Nov 22, 2014 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: 529 Plan - when to stop contributing?
Replies: 15
Views: 1629

Re: Proposed Lifetime Retirement Investment Approach

The last 30 years have been wondrous for stocks. Someone following your approach beginning in 1901 would not have fared so well.

Yes, over most 30 year periods stocks should outperform bonds. The problem with your logic is what happens if they don't.
by letsgobobby
Sat Nov 22, 2014 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Proposed Lifetime Retirement Investment Approach
Replies: 28
Views: 2309

Re: What do you splurge on?

This year My dog got sick, then died. $5000. I got sick, but haven't died yet. $6000. Tenth anniversary cruise, with airfare. And a ring. We go out to dinner often enough and at nice enough places. We travel a lot, though not super luxuriously. Decent beer and wine. And my bucket list splurge is a t...
by letsgobobby
Sat Nov 22, 2014 1:13 am
 
Forum: Personal Consumer Issues
Topic: What do you splurge on?
Replies: 150
Views: 9553

Re: Selecting Charities for Donation

That's an interesting idea. Keep in mind that a donor advised fund also eliminates most paperwork and tax receipts.
by letsgobobby
Fri Nov 21, 2014 1:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selecting Charities for Donation
Replies: 55
Views: 3332

Re: GAO Concerned your IRA may be too big!

a dual-professional couple who aggressively saved and invested in qualified 401k (with full employer contributions) beginning upon departure from school is in serious danger of running afoul of the 5,000,000 figure that is a recurring theme of the GAO report. In a country of over 300,000,000 people...
by letsgobobby
Thu Nov 20, 2014 11:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: GAO Concerned your IRA may be too big!
Replies: 25
Views: 2774

Re: How much is saved by taking mass transit to work?

as you say, the big savings come only if you don't have to keep a car at all = no insurance and no car payment or sunk cost of $20k+.

If you keep a car and drive 5k miles instead of 10k each year, sure, you save money on gas, wear and tear, insurance, but not the big bucks.
by letsgobobby
Thu Nov 20, 2014 5:02 pm
 
Forum: Personal Consumer Issues
Topic: How much is saved by taking mass transit to work?
Replies: 51
Views: 3433

Re: RMD do I have to include my wife's IRA's ?

no. the "I" stands for individual.
by letsgobobby
Thu Nov 20, 2014 4:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: RMD do I have to include my wife's IRA's ?
Replies: 4
Views: 575

Re: Fidelity Charitable Fund Questions

Having a Fido brokerage account and a Fido DAF is super-nice. You can go into your DAF account, choose the option of donating securities from your Fido brokerage, then it lists all of your long term holdings by lot, so you can click click click on each individual lot you want to donate. I chose all ...
by letsgobobby
Thu Nov 20, 2014 3:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Charitable Fund Questions
Replies: 34
Views: 2135

Re: Extreme Generosity / Limiting Net Worth

Hello Bogleheads, As someone who has thoroughly been shaped and taught by the Boglehead investing philosophy, I am curious to hear how you feel about the topic of extreme generosity, i.e. setting lifestyle limits not for the sake of wealth accumulation, but rather for the sake of giving. We tend to...
by letsgobobby
Thu Nov 20, 2014 12:39 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Selecting Charities for Donation

I always wonder, how many folks donate to CharityNavigator itself (it's a registered charity)? Or wikipedia foundation? We donate to each of our respective places of worship (how fun, sometimes our mailman brings "Catholic Northwest" and "Reform Judaism" on the same day), JNF, Wa...
by letsgobobby
Wed Nov 19, 2014 11:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selecting Charities for Donation
Replies: 55
Views: 3332

Re: Enough compensation

I'd do it for just a million, but you wouldn't want me to.
by letsgobobby
Wed Nov 19, 2014 8:06 pm
 
Forum: Investing - Theory, News & General
Topic: [Bill McNabb's] compensation
Replies: 12
Views: 2064

Re: Poll: How much $ for childcare?

$800/mo for 3 days/week. It's a great place though - really great mix of play and learning and really nice kids and teachers. It's more like a 'school' that a daycare. We had our kids in daycare once for $300/mo for 5 days/week. How terrible, threw them in a dirty room and let them roam around all d...
by letsgobobby
Wed Nov 19, 2014 4:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How much $ for childcare?
Replies: 20
Views: 1850

Re: Poll: Net cost of your checking account annually?

I earn 2.25% APY on up to $20,000 in daily balances, so that is about $500 per year. I get all ATM fees reimbursed, haven't paid one of those in years. Our check costs are less than $5 per year since we mostly use free bill pay through the credit union. They even threw in a free wire last year for n...
by letsgobobby
Wed Nov 19, 2014 4:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Net cost of your checking account annually?
Replies: 44
Views: 2266

Re: Jeep Cherokee replacement vehicles

you might find an older, underused Toyota Sequoia for that price and mileage but it'd be tough. I like the new model Durangos but they won't be within your budget. Don't look at the older model years, while far cheaper they have an inferior transmission. Would a truck work? Used ones can be found fo...
by letsgobobby
Wed Nov 19, 2014 1:41 am
 
Forum: Personal Consumer Issues
Topic: Jeep Cherokee replacement vehicles
Replies: 9
Views: 1109

Re: Buick regal/chevy impala

They are both two different car sizes, Impala being the larger of the two. I drove a 2014 Impala for a few weeks over the summer as a rental, it had the 4 cylinder engine in town driving and highway was ok but I took a trip into the Colorado mountains and the I thought the 4cyl a little under power...
by letsgobobby
Wed Nov 19, 2014 1:32 am
 
Forum: Personal Consumer Issues
Topic: Buick regal/chevy impala
Replies: 12
Views: 893

Re: Extreme Generosity / Limiting Net Worth

We also spend less than $50,000 per year for a family of four!*

*excluding:
our mortgage PITI
liability, disability, health, auto, homeowner's insurance premiums
daycare
car payment
vacations
charity
by letsgobobby
Wed Nov 19, 2014 1:28 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

I think this is excellent advice. Not the specific percentages, but the idea of setting aside a certain decided percent of what you earn for charity every year. If one gets in the habit of giving, it becomes part of who you are. If you wait until you become rich with the idealized notion that you w...
by letsgobobby
Tue Nov 18, 2014 4:48 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: charitable gift trust questions

Thank you for that reply. As you suspected, he doesn't have any highly appreciated securities. He tends to invest in low-appreciating securities. :D What about the typical plug from charities (ie, his alma mater) which will pay "6.8% at age 80"? How much of an immediate deduction does he r...
by letsgobobby
Tue Nov 18, 2014 12:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: charitable gift trust questions
Replies: 6
Views: 827

Re: Extreme Generosity / Limiting Net Worth

Hello Bogleheads, As someone who has thoroughly been shaped and taught by the Boglehead investing philosophy, I am curious to hear how you feel about the topic of extreme generosity, i.e. setting lifestyle limits not for the sake of wealth accumulation, but rather for the sake of giving. We tend to...
by letsgobobby
Tue Nov 18, 2014 11:54 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

There's major data discrepancy since in another thread (apparently since deleted), average income Americans donate 4.6% and higher income Americans donate 3%ish so those dont seem to jibe with a 2% rate equals 85%ile figure.
by letsgobobby
Mon Nov 17, 2014 10:42 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

I followed up on the Notre Dame link from earlier in the survey and they have some fascinating stats. Giving 10% of income (they didn't define gross or net) puts you in the top 3% of givers nationally. 85% of Americans give less than 2%. Shocking! Don't be too impressed with yourself. You have good...
by letsgobobby
Mon Nov 17, 2014 4:53 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

I think that's a big reason for the disparate percentage of giving, discussed in another thread here--people who are closer to those in need, to whom those in need are "one of us or could be," prioritize giving more than those more insulated from them. This is a theory, not a fact. I have...
by letsgobobby
Mon Nov 17, 2014 9:42 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

I'm finding that I enjoy giving money to extended family more than to complete strangers. Funding 529s for nephews/nieces etc. They might not need it as much as a Bangladeshi, but it seems to make me happier because it's almost like I get to share an experience with them. A nearly identical series ...
by letsgobobby
Mon Nov 17, 2014 12:58 am
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Extreme Generosity / Limiting Net Worth

I would not adopt your approach because I think we allocate our capital pretty well as it is, to the economic benefit of all. Why, just last night we spent $160 on dinner for four and I can't bear to think of all those tattooed-and-pierced bored Portland waiters out of work if we hadn't done our sha...
by letsgobobby
Sun Nov 16, 2014 9:01 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 10071

Re: Is this a tax-deductible donation?

How embarrassing to have missed that link at the website! :oops:
by letsgobobby
Sun Nov 16, 2014 8:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this a tax-deductible donation?
Replies: 3
Views: 662
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