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Re: favorite bogleheads posts?

This thread is now in the Local Chapters and Bogleheads Community forum. Wait a second, it already is. This one is on my list: Re: Girlfriend moving in, lots of student loan debt OMG - I never saw this before now. This is hysterical. I wonder what happened to the two of them? I'd give long odds tha...
by lhl12
Fri Jul 25, 2014 10:33 am
 
Forum: Local Chapters and Bogleheads Community
Topic: favorite bogleheads posts?
Replies: 43
Views: 3144

Re: debt advice needed for family

Agree that you should first maximize your tax-advantaged retirement accounts before retiring debt early.

Also agree that you should explore refinancing. A 15 year mortgage might make sense. Depending on how long you intend to stay in that house, a 10/1 or 7/1 ARM might also make sense.
by lhl12
Fri Jul 25, 2014 10:11 am
 
Forum: Investing - Help with Personal Investments
Topic: debt advice needed for family
Replies: 10
Views: 1325

Re: How does gift/estate tax indexation work?

Thank you, bsteiner. That is very helpful. I think it means that a person gets a much larger benefit from the exemption by acting early. Yes, that is one of the fundamental principles of estate planning. If you are fortunate enough to be in a position to make meaningful gifts to your intended heirs...
by lhl12
Thu Jul 24, 2014 6:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: How does gift/estate tax indexation work?
Replies: 6
Views: 389

Anyone use Pocketsmith?

I've seen a lot of discussion about Quicken, YNAB, and Mint, but almost nothing about Pocketsmith. Does anyone use Pocketsmith enough to give a detailed summary of its pros and cons?
by lhl12
Tue Jul 22, 2014 10:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Anyone use Pocketsmith?
Replies: 2
Views: 411

Re: Intimidated by Trustee and Investment Advisor

You MUST get a competent trust and estates attorney to help you. You will never be able to get everything into an efficient state without one. Based on what you've described, the people involved are at best incompetent and at worst criminal, with a clear economic incentive to maintain the status quo...
by lhl12
Mon Jul 21, 2014 4:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Intimidated by Trustee and Investment Advisor
Replies: 32
Views: 3819

Re: Best CC for (new) purchases

+1 for Fidelity Visa. If you spend over $15,000/year then it works out to be 2% cash back on all purchases less a $75 annual fee. The cash back gets automatically deposited into your Fidelity account each month (which you can then transfer out whenever you'd like). However it has a high foreign tran...
by lhl12
Mon Jul 21, 2014 7:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Best CC for (new) purchases
Replies: 43
Views: 3122

Re: Estate planning book?

Here are two that I have enjoyed: http://www.amazon.com/Complete-Book-Wills-Estates-Trusts/dp/0805078886/ref=sr_1_1?s=books&ie=UTF8&qid=1405443004&sr=1-1&keywords=estate+planning+bove http://www.amazon.com/Rich-Die-Richer-You-Can/dp/0471155322/ref=sr_1_1?s=books&ie=UTF8&qid=1...
by lhl12
Tue Jul 15, 2014 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate planning book?
Replies: 12
Views: 1243

Re: A question for the Bogleladies or those who can consult

I would just caution you that in my household, a gift of lingerie to her by me is actually considered a gift to me, not to her. Your situation may be different, but be warned.
by lhl12
Mon Jul 14, 2014 10:12 pm
 
Forum: Personal Consumer Issues
Topic: A question for the Bogleladies or those who can consult one
Replies: 70
Views: 5528

Re: Dip into IRAs to pay off CC debt?

Do not dip into IRA's - that tax-advantaged capacity is too valuable. Selling the rental might make the most sense, but take a hard look at the alternative of putting a primary mortgage (possibly also including a HELOC) on the main house. You could use it to consolidate all your debt into one loan, ...
by lhl12
Tue Jul 08, 2014 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dip into IRAs to pay off CC debt?
Replies: 28
Views: 2032

Re: Inappropriate to ask your boss about buying a home?

No, it is not inappropriate. As a business executive I have been asked this question many times and I have always been very honest. Same answer. I have been asked multiple times and don't think it's at all inappropriate. I have always been honest and have sometimes given additional advice upon requ...
by lhl12
Sat Jul 05, 2014 7:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Inappropriate to ask your boss about buying a home?
Replies: 24
Views: 2333

Re: Help With Costless Collar Option Implementation

"Costless" is a term to be taken with a very large grain of salt. For example, imagine two separate "collar" transactions. One involves selling a 15% out of the money call and simultaneously buying a 15% out of the money put, for a net zero cost. The second involves selling a 5% ...
by lhl12
Tue Jul 01, 2014 2:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help With Costless Collar Option Implementation
Replies: 17
Views: 938

Re: Best use of inheritance for retirement saving?

Increase your contribution to the 401k to the maximum of $17,500 per year. You probably could not afford maxing it previously but now you can. Spend whatever amount you need from the inheritance account to make up for the reduction of your take home income. This in effect slowly moves that inherita...
by lhl12
Sun Jun 29, 2014 8:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best use of inheritance for retirement saving?
Replies: 18
Views: 2335

Re: A challenge to "risk free" pre-payment of Mortgages

A bank is not a charity. To offset this potential loss, the bank will charge a slightly higher mortgage rate to the borrower than otherwise. So this put option value is already reflected in the mortgage. If this is true (and I expect that it is, at least in theory) then mortgage rates in non-recour...
by lhl12
Sat Jun 28, 2014 9:11 am
 
Forum: Investing - Theory, News & General
Topic: A challenge to "risk free" pre-payment of Mortgages
Replies: 17
Views: 1012

Re: A challenge to "risk free" pre-payment of Mortgages

Which are the states that truly are non-recourse for these purposes? Is there a website somewhere that gives a clear, correct and short (!) description of each state's laws in this area?
by lhl12
Sat Jun 28, 2014 9:09 am
 
Forum: Investing - Theory, News & General
Topic: A challenge to "risk free" pre-payment of Mortgages
Replies: 17
Views: 1012

Re: Insurance trust and other strategies to protect an estat

When you say "it is likely to raise our net worth close to the estate tax threshold", I assume you mean on a joint basis, correct? (The current Federal exemption amount is $5,340,000 per person -- $10,680,000 for a married couple -- and that figure now grows annually at the rate of inflati...
by lhl12
Tue Jun 10, 2014 4:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Insurance trust and other strategies to protect an estate?
Replies: 8
Views: 465

Re: Keeping up with the neighbors and Balance

If it was just myself, I don't think I would even have written this post, but the truth is my wife is a house person (she takes after her mother) it is almost like an obsession. Not sure if all woman are like this, but I know many are. So after years of not giving her what she wants, I feel bad and...
by lhl12
Fri Jun 06, 2014 9:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Keeping up with the neighbors and Balance
Replies: 95
Views: 9745

Re: Changed asset allocation from 60/40 to 50/50 today

I think the move from 60/40 to 50/50 is a bad idea. Think of yourself as having two portfolios, one for your retirement and one for your kids. Say that you think of 75% of your current assets as being in your retirement portfolio and 25% in a portfolio for your kids. This leaves you with a retireme...
by lhl12
Fri Jun 06, 2014 6:40 pm
 
Forum: Investing - Theory, News & General
Topic: Changed asset allocation from 60/40 to 50/50 today
Replies: 56
Views: 5319

Re: do 80/15/5 mortgages still exist?

Probably not what you or he wants to hear, but if he can only afford 5% down payment, he needs to be looking at renting. +1 -1. Arizona is a non-recourse state so your friend can consider it being leveraged up 20x with an implicit "put option" to walk away (at the cost of damaged credit r...
by lhl12
Mon Jun 02, 2014 6:17 am
 
Forum: Personal Finance (Not Investing)
Topic: do 80/15/5 mortgages still exist?
Replies: 8
Views: 1345

Re: Beneficiary to Large Insurance Policy - AA?

By the way, it's not obvious to me that your asset allocation is too aggressive. Depending on your level of expenses, net savings every year, and the expected value of your expected inheritance (in addition to the life insurance policy), you might be just fine. You haven't mentioned children - are t...
by lhl12
Sun Jun 01, 2014 4:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Beneficiary to Large Insurance Policy - AA?
Replies: 13
Views: 846

Re: Beneficiary to Large Insurance Policy - AA?

Why not consider the current cash surrender value of the $1,000,000 policy as a portion of your fixed income allocation? Over time the cash surrender value would increase. I agree that this is the right approach. The policy may have a $1,000,000 death benefit but it is worth much less than that tod...
by lhl12
Sun Jun 01, 2014 4:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Beneficiary to Large Insurance Policy - AA?
Replies: 13
Views: 846

Re: Retiring into the poor house in 13 yrs?

This is the approximate breakdown of our monthly expenses: mortgage-1476(includes property/school tax escrow) plus extra 600 principal payment hoa fee-157 medical premium-1451 car ins(3 cars).-320 gas(for 3 cars)-460 home security-26 malpractice ins(me)-150 disability ins(me0.-177 life ins(me and w...
by lhl12
Sat May 31, 2014 10:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring into the poor house in 13 yrs?
Replies: 110
Views: 9310

Re: Retiring into the poor house in 13 yrs?

This is the approximate breakdown of our monthly expenses: mortgage-1476(includes property/school tax escrow) plus extra 600 principal payment hoa fee-157 medical premium-1451 car ins(3 cars).-320 gas(for 3 cars)-460 home security-26 malpractice ins(me)-150 disability ins(me0.-177 life ins(me and w...
by lhl12
Sat May 31, 2014 10:35 am
 
Forum: Investing - Help with Personal Investments
Topic: Retiring into the poor house in 13 yrs?
Replies: 110
Views: 9310

Re: Pondering retirement

Your husband is 75 and if it is a close call I'd err on the side of retiring now if it's important for the two of you to spend time together. I agree with this. Actuarially, I think you are going to have 15-20 years of life on your own. It's easy to imagine that you might only have another 5 good y...
by lhl12
Tue May 20, 2014 11:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Pondering retirement
Replies: 24
Views: 2619

Re: funding retirement in one page

I enjoyed seeing this, and for those who are visual learners I think it could be a useful frame of reference. Thanks for sharing.
by lhl12
Sun May 18, 2014 6:07 pm
 
Forum: Investing - Theory, News & General
Topic: funding retirement in one page
Replies: 9
Views: 2258

Re: Obligations to help parents financially?

I would not make any decisions about how you want to handle things in this specific case until you have clear in your own head how you will react when they come to you 5 or 10 or 15 years from now when they are destitute and need you to support them. Because, make no mistake, they will.
by lhl12
Thu May 08, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obligations to help parents financially?
Replies: 77
Views: 7016

Re: Higher Risk, Higher Rewards than a Stock Index Fund

One easy answer is to lever up your entire portfolio.
by lhl12
Fri Apr 25, 2014 1:53 pm
 
Forum: Investing - Theory, News & General
Topic: Higher Risk, Higher Rewards than a Stock Index Fund
Replies: 50
Views: 11970

Re: Does 529 really hurt the chance to get financial aid?

Is there any difference - for purposes of qualifying for financial aid - between a 529 owned by a parent, a 529 owned by a grandparent, and a 529 owned by an aunt? (Assume in each case that the beneficiary is the same child.)
by lhl12
Wed Apr 23, 2014 8:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Does 529 really hurt the chance to get financial aid?
Replies: 66
Views: 5381

Re: Hello, advice needed and welcomed

My investment strategy, if you can even call it that, is to invest in target date funds. Since I consider myself a little more risk adverse than the average Joe, I have chosen funds that are designed for someone younger than myself. For instance, I would definitely like to be retired at 60 which wo...
by lhl12
Tue Apr 22, 2014 10:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Hello, advice needed and welcomed
Replies: 13
Views: 886

Re: Hedge fund fees

Take care to distinguish between the hedge fund (which is simply a specialized form of mutual fund, albeit with a high fee structure), the hedge fund management company (which is usually a small business, with revenues, expenses, and under 50 employees, like any other small business), and the owners...
by lhl12
Tue Apr 22, 2014 8:40 pm
 
Forum: Investing - Theory, News & General
Topic: Hedge fund fees
Replies: 12
Views: 1057

Re: Hedge fund fees

I'm just wondering about last year and the enormous amount of Money hedge funds must have made. If typical fund charges 2/20 of profits. Does that mean a lot of these managers took in at least 8 pct in fees for matching the s&p? Can someone check my math? Most hedge funds would have underperfor...
by lhl12
Mon Apr 21, 2014 7:53 am
 
Forum: Investing - Theory, News & General
Topic: Hedge fund fees
Replies: 12
Views: 1057

Re: TIAA-CREF is buying Nuveen?

I certainly don't feel much like much of a "master" in TIAA-CREF, given the much higher expense ratio associated with their index funds. If TIAA-CREF had billions of dollars in free cash sloshing around available to buy an unprofitable and highly leveraged Nuveen, they could have used tha...
by lhl12
Tue Apr 15, 2014 9:53 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 3143

How is it possible for TIAA-CREF to buy Nuveen?

[Thread merged, see below. --admin LadyGeek] Today TIAA-CREF announced that it would be purchasing Nuveen from Madison Dearborn (a private equity firm) for $6.25 billion, including the assumption of $4.5 billion of existing debt. ($6.25 billion - $4.5 billion) = $1.75 billion. This means that at th...
by lhl12
Mon Apr 14, 2014 9:56 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 3143

Re: reading advice for an ambitious woman in her early 20s?

While it's not directly related to personal finance, I'd also recommend "Lean In" by Sheryl Sandberg. It's very interesting and thought-provoking for a career-minded young woman just starting out.
by lhl12
Mon Apr 07, 2014 6:46 pm
 
Forum: Personal Consumer Issues
Topic: reading advice for an ambitious woman in her early 20s?
Replies: 32
Views: 2804

Re: reading advice for an ambitious woman in her early 20s?

BL wrote:I think Jane Bryant Quinn is worth having around for a reference book on personal finance:
http://www.amazon.com/Making-Most-Your-Money-Now/dp/0743269969/ref=sr_1_1?s=books&ie=UTF8&qid=1396319859&sr=1-1&keywords=jane+bryant+quinn


+1 on JBQ - a terrific reference.
by lhl12
Mon Apr 07, 2014 6:43 pm
 
Forum: Personal Consumer Issues
Topic: reading advice for an ambitious woman in her early 20s?
Replies: 32
Views: 2804

Re: Job chg, IRA to 401k, already made contribution, now wha

If she doesn't want a Roth IRA, can she reverse the contribution as if it had never been made? The account is at Vanguard. Also, her 2014 contribution is commingled with her prior year deductible contributions, so I'm not sure how you could calculate the income on the $6500.
by lhl12
Sun Apr 06, 2014 1:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Job chg, IRA to 401k, already made contribution, now what?
Replies: 5
Views: 188

Job chg, IRA to 401k, already made contribution, now what?

A family member, over 50, worked for several years for a company that offered no retirement plan. So, she made a maximum deductible IRA contribution in January of each year, including 2014. Recently, she was offered a better job with another company, which she accepted. She stopped work at the old e...
by lhl12
Sun Apr 06, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Job chg, IRA to 401k, already made contribution, now what?
Replies: 5
Views: 188

Re: What are voting rights worth?

I'm not sure why you believe voting shares where one shareholder has control would trade at parity to the non voting shares. There is quite a lot of precedent for voting shares to receive a premium when a company gets sold, regardless of whether a single shareholder controls the voting class or not....
by lhl12
Fri Apr 04, 2014 12:38 am
 
Forum: Investing - Theory, News & General
Topic: What are voting rights worth?
Replies: 9
Views: 954

Re: Mr. Money Mustache: Hero or Foolish?

His blog was my motivation to buy a bike.. "it's ludicrous to drive a massive, gas guzzling suv across town to work out on a treadmill, while watching. Get on your bike, walk, get moving. An ex-co-worker told me about a guy who rode his bicycle to work every day. He was doing that one morning ...
by lhl12
Mon Mar 31, 2014 3:36 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 255
Views: 33759

Re: Mr. Money Mustache: Hero or Foolish?

I am a fan as well. I haven't implemented many of his suggestions, but I find his perspective refreshing as well as being a great reference point for the dangers (and seductions) of consumerism in our society.
by lhl12
Mon Mar 31, 2014 11:24 am
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 255
Views: 33759

Re: Were These Investment Advisors Lying or Incompetent?

I don't know if your synagogue has a Director of Development but if they do, you might consult with him/her about this topic as well. The job of the Director of Development is to raise money from other congregants, both for current (annual) use and for long term endowment. Endowment gifts are the mo...
by lhl12
Sat Mar 29, 2014 9:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 100
Views: 7805

Re: Were These Investment Advisors Lying or Incompetent?

There are investment consulting firms who specialize in advising committees of this sort. They aren't perfect, but they tend to be a lot better (as well as much less expensive and much less conflicted) than firms like Morgan Stanley. They act as a disinterested advisor as well as outsourced staff to...
by lhl12
Fri Mar 28, 2014 10:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Were These Investment Advisors Lying or Incompetent?
Replies: 100
Views: 7805

Re: Implementing David Allen's Getting Things Done (GTD)

Anyone used this book? It appeared in Amazon.com as a title Often Bought Together With the other Outlook-based book and GTD. The 4th Edition addresses up to and including Outlook 2013: Total Workday Control Using Microsoft® Outlook by Michael Linenberger http://www.amazon.com/Total-Workday-Control-...
by lhl12
Mon Mar 24, 2014 8:01 am
 
Forum: Personal Consumer Issues
Topic: Implementing David Allen's Getting Things Done (GTD)
Replies: 48
Views: 6058

Re: Implementing David Allen's Getting Things Done (GTD)

For those who are Outlook based, +1 for the recommendation for "Take Back Your Life" from McGhee Productivity. We implemented this firm wide and it definitely helps make Outlook more usable for task management. It's not perfect, but is a big improvement.
by lhl12
Mon Mar 24, 2014 7:58 am
 
Forum: Personal Consumer Issues
Topic: Implementing David Allen's Getting Things Done (GTD)
Replies: 48
Views: 6058

Re: Not depending on investments for retirement.

I don't want to get too political, but public sector pensions are not 100% guaranteed. Just look at Detroit. While this point is a valid one, I would just note that there is a significant difference between pension obligations of cities/towns/counties/municipalities and those of the fifty sovereign...
by lhl12
Fri Mar 14, 2014 4:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Not depending on investments for retirement.
Replies: 26
Views: 2511

Re: The Great 100 thousand dollar pension question.

Detroit's pensions costs weren't one of the primary causes of its bankruptcy. While they were significant, Detroit's financial distress was primarily caused by a massive collapse of property values and exodus of population and the resulting hits on its revenue. The pension funds actually have highe...
by lhl12
Sun Mar 02, 2014 10:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Great 100 thousand dollar pension question.
Replies: 71
Views: 8579

Re: The Great 100 thousand dollar pension question.

I agree that this seems like a phenomenal deal, and you should jump at it. The fact that it is so clearly beneficial to you, and such an obvious choice, means that it is a terrible deal for the persons on the other side of the trade -- the taxpayers of the state of LA. If I were one of them, I would...
by lhl12
Sun Mar 02, 2014 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Great 100 thousand dollar pension question.
Replies: 71
Views: 8579

Re: Fee Only Planner for Parents in Boston Area

My father-in-law had a decent experience with these folks: www.montisfinancial.com

I have no idea how good they are, but maybe worth adding to whatever list you compile?
by lhl12
Tue Feb 25, 2014 4:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fee Only Planner for Parents in Boston Area
Replies: 14
Views: 816

Re: Local college invests 56% of assets in "alternatives"

Institutional investors of this sort have three significant advantages over individual investors that might make investments of this sort appropriate: they pay no taxes on investment returns, they have an infinite life investment horizon, and they have sufficient scale to hire full-time professional...
by lhl12
Mon Feb 24, 2014 4:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Local college invests 56% of assets in "alternatives"
Replies: 16
Views: 1286
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