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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: 41
Views: 1691

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: 1588

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 215
Views: 14644

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: 4865

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: 4865

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: 1229

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: 6738

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: 111
Views: 8441

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: 2150

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: 2150

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: 2402

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: 3188

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: 3463

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: 384

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: 4156

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: 3543

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: 4473

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: 2312

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: 51
Views: 4681

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: 1360

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: 413

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: 419

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: 3930

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: 3183

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: 1257

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: 5841

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: 2067

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: 2363

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: 979

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: 2377

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: 1032

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: 1032

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: 480

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: 10005

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: 5375

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: 1386

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: 857

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: 857

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: 9511
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