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Re: Help with a large business decision

Based on what you've laid out, it seems like a good decision to purchase the equipment. Yes, it's one year of profits and it's possible the economy could tank the day after you spend the money, but it seems like the payback on the purchase is so significant and so quick that within a year or two you...
by lhl12
Tue Sep 16, 2014 6:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with a large business decision [capital expenditure]
Replies: 36
Views: 1369

Re: Rather macabre but necessary question

I don't know if your Will and estate plan are done, but if not they need to be. With luck you will bounce the check to the undertaker many years later than you might now think, but you should get all your affairs in order as quickly and efficiently as possible, so you don't need to think about that ...
by lhl12
Tue Sep 09, 2014 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rather macabre but necessary question
Replies: 72
Views: 5344

Re: Injury on MBTA: Financially worth it to hire an attorney

In my opinion, our society is filled with countless frivolous lawsuits that burden taxpayers with expense that is unnecessary and not rightly theirs. There is a big difference between a boiler explosion on a ship (ripping people limb from limb and presumably killing everyone aboard due to the ship s...
by lhl12
Sun Sep 07, 2014 9:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Injury on MBTA: Financially worth it to hire an attorney?
Replies: 27
Views: 1972

Re: Texas - Recommendation Where To Live

livesoft wrote:I would not consider Austin and San Antonio to have major airports as many of their flights simply go through DFW and IAH.

Agreed - I think only DFW and Houston pass the airport test.
by lhl12
Sun Sep 07, 2014 5:45 pm
 
Forum: Personal Consumer Issues
Topic: Texas - Recommendation Where To Live
Replies: 56
Views: 2834

Re: Injury on MBTA: Financially worth it to hire an attorney

As a periodic MBTA rider (and financial supporter through my taxes) I find it despicable that someone would even consider something like this. This was just bad luck, may not be anything but fleeting, was not negligence, and certainly doesn't merit a lawsuit which, if successful, would just increase...
by lhl12
Sun Sep 07, 2014 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Injury on MBTA: Financially worth it to hire an attorney?
Replies: 27
Views: 1972

Re: Texas - Recommendation Where To Live

I'd focus on the Dallas Ft. worth area, particularly the northern suburbs of Dallas and the "mid-cities"' (the area between Dallas and Ft. worth). This would include cities like: Frisco, Plano, Allen, McKinney, Grapevine, Southlake, Colleyville and their surrounding towns. All of these pla...
by lhl12
Sun Sep 07, 2014 11:22 am
 
Forum: Personal Consumer Issues
Topic: Texas - Recommendation Where To Live
Replies: 56
Views: 2834

Re: Annuity advice

Agreed - defer taking SS before buying an annuity.
by lhl12
Fri Sep 05, 2014 1:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Annuity advice
Replies: 13
Views: 812

Re: Questions about rebalancing portfolio--retirement in 6 y

Would it make sense for her to split the "mixed" IRA's into separate accounts (i.e. to unmix them)? I don't know if this is even possible, but if it were it seems like it might simplify the treatment of the various accounts and the way they get rolled up on her asset allocation.
by lhl12
Fri Sep 05, 2014 11:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Questions about rebalancing portfolio--retirement in 6 yrs
Replies: 33
Views: 1487

Re: Vanguard National Trust Company?

Summary: Vanguard National Trust Company cannot be defined in a testamentary trust as the desired trust. Details: My spouse and I are in the process of setting up a last will and testament with LegalZoom, and we are including directions to have a testamentary trust for our minor children. In a cons...
by lhl12
Fri Sep 05, 2014 10:02 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard National Trust Company?
Replies: 91
Views: 18687

Re: Help with Tax Advantaged Estate Plan

Also, is there any possibility that more grandchildren might appear in the future? If so, you will probably want to be sure that you have the ability to treat each grandchild equally.
by lhl12
Thu Sep 04, 2014 9:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with Tax Advantaged Estate Plan
Replies: 11
Views: 677

Re: Help with Tax Advantaged Estate Plan

It seems unlikely, given the size of the estate and the size of the $10.68mm+ total exemption (which will increase annually with inflation), that the estate will owe any Federal taxes, even if no annual $14K gifts are made, but especially if they are. You didn't mention what state will govern here. ...
by lhl12
Thu Sep 04, 2014 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with Tax Advantaged Estate Plan
Replies: 11
Views: 677

Re: Assest allocations with a pension, help

As of the most recently published annual report, for the period ending June 30, 2009, the fund was only 87.5% “funded”, with some $96.5 billion. According to the MyFRS website, as of December 31, 2010, the FRS pension assets were up to almost $124 billion. That is putting the fund assets back on pa...
by lhl12
Tue Sep 02, 2014 8:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: Assest allocations with a pension, help
Replies: 16
Views: 956

Re: Assest allocations with a pension, help

An important question is whether your pension is an obligation with the full faith and credit of the State of Florida behind it or whether it is an obligation of a municipality, county or other lesser entity. (I know you said that the Florida Retirement System is managing the pension, but that isn't...
by lhl12
Tue Sep 02, 2014 5:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Assest allocations with a pension, help
Replies: 16
Views: 956

Re: New 2% cash back Mastercard from Citi

This may be a good card to have, a better alternative to the FIDO 1.5% VISA for those occasions when AMEX won't be accepted. Normally it takes me more than a year to get to the minimum reimbursement amount on the Visa and Fido sure makes it convenient with auto-pay, auto-cash back to my Fido accoun...
by lhl12
Tue Sep 02, 2014 2:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 195
Views: 19824

Re: Brokerage account for kids. Fidelity or TDAmeritrade

lhl12 - I've heard mixed reviews on the Fidelity cards, I take you have not had any issue? I have also heard they are moving to Bank of America, have you heard anything about that? I'm not sure what mixed reviews you've heard, but I have nothing but good things to say about the fidelity cards. I ha...
by lhl12
Mon Sep 01, 2014 7:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Brokerage account for kids. Fidelity or TDAmeritrade
Replies: 19
Views: 1173

Re: New 2% cash back Mastercard from Citi

What is the mechanism to redeem the cash back rewards for this new Citi 2% card? The Fido AmEx 2% card has auto-redemption into any Fidelity account - I love the way it works every month like clockwork. Does Fido Amex actually allow you to redeem every month no matter how many rewards points you ha...
by lhl12
Mon Sep 01, 2014 5:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 195
Views: 19824

Re: Brokerage account for kids. Fidelity or TDAmeritrade

The Fidelity cash back Visa and Amex are the best credit cards out there. If it's a close call, I'd definitely open the accounts at Fidelity, so you can get the card!
by lhl12
Mon Sep 01, 2014 5:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Brokerage account for kids. Fidelity or TDAmeritrade
Replies: 19
Views: 1173

Re: New 2% cash back Mastercard from Citi

What is the mechanism to redeem the cash back rewards for this new Citi 2% card? The Fido AmEx 2% card has auto-redemption into any Fidelity account - I love the way it works every month like clockwork. +1. It's hard for me to overstate how appealing it is to have the redemption occur automatically...
by lhl12
Fri Aug 29, 2014 9:55 am
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 195
Views: 19824

Re: What to do with individual stock I received?

I would keep the stock and reinvest the dividends in index funds in your taxable account or Roth IRA. Consider selling when you have a large enough capital loss in your taxable account to offset the LTCG. Disclosure: I have an inherited stock like this. I can't quite bring myself to sell it yet eve...
by lhl12
Wed Aug 27, 2014 10:52 am
 
Forum: Investing - Help with Personal Investments
Topic: What to do with individual stock I received?
Replies: 42
Views: 1942

Re: Fidelity Charitable Fund Questions

Let's say I contribute $10,000 of highly appreciated Apple stock into my DAF account. I understand that I get a tax deduction of $10,000 in that tax year, and that I never pay tax on the appreciation. Do the Apple shares stay in my DAF account, with the potential to increase or decrease in value in ...
by lhl12
Mon Aug 25, 2014 1:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity Charitable Fund Questions
Replies: 31
Views: 1623

Re: I need "Ultra High Net Worth" investing advice please

I don't think that working with JP Morgan Chase or similar groups is worthwhile even at 0.25% AUM because of the inherent conflicts of interest. Agree strongly - this has been precisely my experience. Their entire model is to sell you money management product. When the sums get very large, it's eas...
by lhl12
Mon Aug 25, 2014 5:42 am
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

It sounds like you are down to US Trust and Vanguard. Why not try them both for a while and see who is better in terms of knowledge, service, and quality of advice? You could compare the fees also. If US Trust cost more than Vanguard, make the judgment whether or not the extra fees are worth what y...
by lhl12
Mon Aug 25, 2014 5:31 am
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

The US Trust and JPM PBs of the world can't be all that bad given the high profile clients that use them if accounts are kept to basic investments. I think fees are a concern at any level of wealth, these are just magnified because of the dollar amount. If I make at least $2m for income what's $200...
by lhl12
Sun Aug 24, 2014 3:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

Any thoughts on Blackrock managed products? Does anyone have any experience with? Given the circumstances and potential management, would any one consider a US Trust or JP Morgan Private bank at .25% AUM free which might be close to what assembling a team would run? I would recommend that you steer...
by lhl12
Sun Aug 24, 2014 3:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

Here's a curveball for everyone... The $50m Question. We're located in an income tax state, our kids are extremely young. If we plan to live off this wealth and make it last for generations, does it make sense to move to a No Income Tax state? Where we're at now the cost of living is pretty low and...
by lhl12
Sun Aug 24, 2014 2:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

Any thoughts on Blackrock managed products? Does anyone have any experience with? Given the circumstances and potential management, would any one consider a US Trust or JP Morgan Private bank at .25% AUM free which might be close to what assembling a team would run? I would recommend that you steer...
by lhl12
Sun Aug 24, 2014 2:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

Here's another opinion. At your asset level, why bother to take any investment risk at all? Even with a a disaster like a divorce or health issue, it's not likely you'll live long enough to blow through 50 million.With the right tax and legal protection, your lifetime risk of ruin is essentially ze...
by lhl12
Sun Aug 24, 2014 7:51 am
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

On the other side of this... I believe you get what you pay for and ran my business like that. I don't trust Goldman and more comfortable with the top tier wealth managers, more so U.S. Trust ($3m min.) and JP Morgan Private Banking group ($25m min.). I like the one stop shop of both for credit, le...
by lhl12
Sun Aug 24, 2014 7:25 am
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: I need "Ultra High Net Worth" investing advice please

If you have any intention of contributing any of your assets to charity, even if you're not ready right now, it would probably be a good idea to contribute a slug in the same year in which you realized the gain (presumably 2014) so as to get some tax shield. There are two ways you could do this - ei...
by lhl12
Sat Aug 23, 2014 6:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need "Ultra High Net Worth" investing advice please
Replies: 217
Views: 16363

Re: Do you tip on the tax?

I worked as a waiter for a number of years. In the US, you get paid $2.13 per hour plus tips. Depends on the state. Fed min. wage for wait staff is $2.13, but in other states it is higher. http://en.wikipedia.org/wiki/Tipped_wage_in_the_United_States Nice chart. In CA, OR, AND WA, the min wage for ...
by lhl12
Sat Aug 23, 2014 4:25 am
 
Forum: Personal Consumer Issues
Topic: Do you tip on the tax? [Restaurants]
Replies: 124
Views: 5065

Re: Do you tip on the tax?

I almost always pay by credit card, and tip an exact number (to the penny) that causes the total bill to be a dollar figure with no cents. I set the tip to be somewhere in the range of 15-20% (pretax), depending on how I feel about the service (which usually pushes it close to 20%), and whether ther...
by lhl12
Fri Aug 22, 2014 9:06 am
 
Forum: Personal Consumer Issues
Topic: Do you tip on the tax? [Restaurants]
Replies: 124
Views: 5065

Re: Longer Term Investment Goals Progress Tracking

TN_INVEST wrote:I think it's normal to treat folks that take things 4 places past the decimal point like Martians.


LOL!

I think it's perfectly fine to be tracking this in the way that you are - congrats on your progress!

(I do think one decimal place is probably sufficient...)
by lhl12
Tue Aug 19, 2014 12:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Longer Term Investment Goals Progress Tracking
Replies: 20
Views: 1257

Re: How much do you plan to save in your 529 plan?

Can someone define what a "2nd tier expensive private college" is? Names for example? Well, this is an easy way to offend large numbers of alumni, but here are some examples often considered to fall in this group: + Northwestern + Middlebury + Rice + Johns Hopkins + Emory + Tufts I'm not ...
by lhl12
Tue Aug 19, 2014 9:40 am
 
Forum: Personal Finance (Not Investing)
Topic: How much do you plan to save in your 529 plan?
Replies: 60
Views: 6908

Re: Spouse not ready to cut ties with financial advisers

I agree with the suggestion of starting by moving your IRA. I would modify that slightly by also moving enough of one of your husband's accounts so that you are moving a total of at least $1 million. This will put you in a higher tier of service from Vanguard. I also agree with the idea of using Van...
by lhl12
Mon Aug 18, 2014 7:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 8957

Re: Where to live? She works in Boston, he works in Worceste

I know a couple with this exact same commute and they live in Southie. South Boston sits right on top of several entrances to the Mass Pike, would give the other person a very convenient 10 minute bus ride to South Station, and it is incredibly walkable. It's the hippest neighborhood for young prof...
by lhl12
Fri Aug 15, 2014 5:07 pm
 
Forum: Personal Consumer Issues
Topic: Where to live? She works in Boston, he works in Worcester
Replies: 27
Views: 2185

Re: Where to live? She works in Boston, he works in Worceste

Where exactly in Boston does she need to commute to? That will affect the answer, as there are various distinct public transportation options.
by lhl12
Thu Aug 14, 2014 4:56 pm
 
Forum: Personal Consumer Issues
Topic: Where to live? She works in Boston, he works in Worcester
Replies: 27
Views: 2185

Re: Why is Bank of America so hated?

My experience with B of A has been quite good. I have used them at various times for checking accounts, savings account, credit cards, safe deposit boxes, and home mortgages. I think their website and on-line bill paying systems are excellent and their ATM coverage is very broad. I have never had a ...
by lhl12
Wed Aug 13, 2014 2:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why is Bank of America so hated?
Replies: 43
Views: 2449

Re: Wills, Spouses, Prenups, etc.

Perhaps the issue is not what the wife will receive upon the husband's death, which many posters seem to think is quite fair, but rather the nature of their spending while alive. It seems like there is a lot of tension around current expenses, which may be what is putting pressure on the relationshi...
by lhl12
Wed Aug 13, 2014 7:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Wills, Spouses, Prenups, etc.
Replies: 67
Views: 3802

Re: Maxed Out & Stressed Out

Yes Calm Man, it is unlikely I will go back to work in any capacity close to where I was when I left. I will lose the 6500/mo in 9 years when the policy ends. Social Security and medicare will continue on (hopefully!). I'd like to just put a big chunk in VTINX to give me equity exposure but it woul...
by lhl12
Mon Aug 11, 2014 6:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Maxed Out & Stressed Out
Replies: 14
Views: 3480

Re: Investment Portfolio

Welcome to the forum! A few clarifying questions: 1) Is all of the $2.6 million in taxable accounts? If not, how much is in tax-advantaged accounts (and of what type)? 2) You say that the $100K that you withdraw from your portfolio annually is more than you require. How much do you actually require ...
by lhl12
Fri Aug 08, 2014 6:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment Portfolio
Replies: 4
Views: 391

Re: Your Favorite charity organization...? please

Depending on where you live and how positively you feel about it, you might want to consider your local community foundation. Most of these organizations are small scale and can really use the resources to make a meaningful difference in their local communities. Of course, if you live in Elkhart, In...
by lhl12
Fri Aug 08, 2014 11:46 am
 
Forum: Personal Consumer Issues
Topic: Your Favorite charity organization...? please
Replies: 91
Views: 4283

Re: Public not saving for retirement

If every grasshopper in the country became a Boglehead ant and started saving much more than they presently do (and spending much less than they presently do), it is an interesting question how much current Bogleheads would see their net worths decline due to corporate profits (and share prices) dec...
by lhl12
Fri Aug 08, 2014 11:01 am
 
Forum: Investing - Theory, News & General
Topic: Public not saving for retirement
Replies: 24
Views: 3574

Re: Help with a new $5m portfolio for an old lady

First, please don't call an 82 year old an old lady. I can't imagine your mother would like that. A bunch of us here are in our 80s and 90s. I am 81 and I would not want to be called an old man, because I am not. To me that is derogatory. You can change your title by substituting "my mother&qu...
by lhl12
Wed Jul 30, 2014 1:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with a new $5m portfolio for an old lady
Replies: 59
Views: 4525

Re: Wise to split $$ between Vanguard and advisor?

A bank is one of the worst places to go for an advisor. Before you go off making such a reckless statement you ought to clarify what you're talking about. I couldn't agree with you more about the guy sitting on the branch floor peddling high cost mutual funds. But there is also the trust or wealth ...
by lhl12
Tue Jul 29, 2014 5:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wise to split $$ between Vanguard and advisor?
Replies: 38
Views: 2338

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: 53
Views: 5070

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: 1366

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: 430

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: 423

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: 3957
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