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Re: Social Security: "highest 35 years..." ?

I have a blog post that illustrates the concept of bend points and also the effect of zero income years in a graph: http://www.sotirioskeros.com/2014/04/12/socialsecuritybenefits/ The chart/post is based on an example of young professional who has a delay in her first year of income, but then quickl...
by neurosphere
Tue Sep 30, 2014 11:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security: "highest 35 years..." ?
Replies: 4
Views: 954

Re: Obese airline passenger

This is a thread which is likely to get locked. There is really no good answer, and there are dozens of different opinions. My wife any I have VERY different opinions on what the correct course of action is on a plane when we are seated next to a passenger of size and which makes our flight more unc...
by neurosphere
Sun Sep 28, 2014 9:40 pm
 
Forum: Personal Consumer Issues
Topic: Obese airline passenger
Replies: 62
Views: 4633

Re: How much excess 401k contribution is reportable to the I

Perhaps an excess contribution of less than 50 cents could be rounded down to the next dollar? In which case your answer is "49 cents". :) This is from the IRS 1040 instructions: Rounding Off to Whole Dollars You can round off cents to whole dollars on your return. If you do round to whole...
by neurosphere
Sun Sep 28, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much excess 401k contribution is reportable to the IRS
Replies: 8
Views: 665

Re: Chase Ultimate Rewards Program

For maximum flexibility keep your points as UR until you want to fly. They transfer instantly to United or British Airways. I have only transferred Chase points to Amtrak. All points were usually transferred the same day, but one transfer took over 6 days, which was quite annoying. The terms of ser...
by neurosphere
Sat Sep 27, 2014 8:05 pm
 
Forum: Personal Consumer Issues
Topic: Chase Ultimate Rewards Program
Replies: 23
Views: 2613

Re: Answer to Most Physician/High Net Worth Questions:

That's not a bad list, and anyone who can follow it will do quite well. But the obvious bullet point may have to be #0: " Plan to live on half your salary, and save/invest the rest ". And as others on this board, including myself has advised, "live like a resident" [Edit: letsgo...
by neurosphere
Sat Sep 27, 2014 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Answer to Most Physician/High Income Job Questions:
Replies: 31
Views: 2254

Re: Disappointed in Vanguard customer service

Here is a recent article about hold music and its history which I found interesting: http://www.slate.com/articles/arts/culturebox/2014/09/history_of_hold_music_how_did_we_end_up_with_handel_tinkling_through_the.html For those who find hold music annoying, Google has a patent for personalized hold m...
by neurosphere
Sat Sep 27, 2014 1:41 pm
 
Forum: Investing - Theory, News & General
Topic: Disappointed in Vanguard customer service
Replies: 34
Views: 3750

Re: Answer to Most Physician/High Net Worth Questions:

That's not a bad list, and anyone who can follow it will do quite well. But the obvious bullet point may have to be #0: "Plan to live on half your salary, and save/invest the rest". And as others on this board, including myself has advised, "live like a resident" [Edit: letsgobob...
by neurosphere
Sat Sep 27, 2014 10:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Answer to Most Physician/High Income Job Questions:
Replies: 31
Views: 2254

Re: Going forward

He is a CFP and not just an advisor. Yet another example of how a CFP designation doesn't necessarily protect an investor all that much from questionable advice or unethical practices. My father's broker is a CFP who is employed by one of the largest brokerages/investment banks in the country. I re...
by neurosphere
Tue Sep 23, 2014 8:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Going forward
Replies: 7
Views: 813

Re: how to prevent medical expense catastrophe?

I imagine this behavior makes patients with some types of insurance more attractive to certain doctors. I know some medical groups which have long waiting lists will give priority appointments or otherwise overbook patients which have insurance which provides better reimbursements. I also know that...
by neurosphere
Tue Sep 23, 2014 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: how to prevent medical expense catastrophe?
Replies: 174
Views: 7524

Re: Southwest Airlines Engulfing, Reversal Candle Signals Do

What does that mean? If 20 percent of brokers start using astrology symbols to make transactions; buy Pharma drugs in Cancer, will they add a section on that in the exam too? :P I think it was John Bogle, or perhaps Milton Friedman, who said "When Mercury is in retrograde, sell! Otherwise, buy...
by neurosphere
Mon Sep 22, 2014 8:28 pm
 
Forum: Investing - Theory, News & General
Topic: Southwest Airlines Engulfing, Reversal Candle Signals Downsi
Replies: 55
Views: 3217

Re: Southwest Airlines Engulfing, Reversal Candle Signals Do

Speaking of technical analysis... When I took the series 65 test ( http://en.wikipedia.org/wiki/Uniform_Investment_Adviser_Law_Exam ), it treated technical analysis as a form of analysis which was as valid as other forms of analysis, such as fundamental analysis. It was clear that the "powers t...
by neurosphere
Mon Sep 22, 2014 7:39 pm
 
Forum: Investing - Theory, News & General
Topic: Southwest Airlines Engulfing, Reversal Candle Signals Downsi
Replies: 55
Views: 3217

Re: Please Help with 401K Investment Options

from your screen shot it looks like you are in the freedom funds. i would get out of these quickly. they are an unsavory package of actively managed funds that fidelity can't get anyone to invest in directly. Agreed, "free yourself" from the freedom funds! While I like Fidelity in general...
by neurosphere
Mon Sep 22, 2014 8:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Please Help with 401K Investment Options
Replies: 5
Views: 398

Re: how to prevent medical expense catastrophe?

"One person's emergency is another person's routine care." I agree and I have no sympathy for those that get charged an arm and a leg for abusing the ER to get their kid's school physical completed. Ok, but that's not the emergency I'm talking about. I'm talking about the kind where someo...
by neurosphere
Sun Sep 21, 2014 7:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: how to prevent medical expense catastrophe?
Replies: 174
Views: 7524

Re: how to prevent medical expense catastrophe?

There is no way to make this work in our current system. And with HUNDREDS of insurance plans out there, how on earth do you expect a hospital to find a full menu of doctors that are in-network with all the exact same plans as the hospital? Let me flip the question around somewhat, and try to get s...
by neurosphere
Sun Sep 21, 2014 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: how to prevent medical expense catastrophe?
Replies: 174
Views: 7524

Re: Mechanics of paying a financial advisor?

*I think the reason this bothers me so much is that managing investments properly - which means a simple portfolio with very little turn-over - requires almost no effort. Agreed. It's fairly straightforward to set an initial asset allocation, determine a glide path if appropriate and then determine...
by neurosphere
Sun Sep 21, 2014 4:24 pm
 
Forum: Investing - Theory, News & General
Topic: Mechanics of paying a financial advisor?
Replies: 23
Views: 1337

Re: Break-even point for HSA account

I did a similar calculation for myself a couple years ago and came to the conclusion that the HSA was an all-but-guaranteed win even if I were to fall into unexpectedly poor health for several years: It's amazing how much variability there can be from employer to employer, with respect to the costs...
by neurosphere
Sun Sep 21, 2014 3:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Break-even point for HSA account
Replies: 8
Views: 829

Re: Break-even point for HSA account

What I like to do when thinking about HSA decisions is look at the two extremes. One the one end, you have a healthy person with no health care utilization. You can calculate the savings on premiums, the employer contribution, and estimate the tax deduction from making personal HSA contributions, an...
by neurosphere
Sun Sep 21, 2014 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Break-even point for HSA account
Replies: 8
Views: 829

Re: how to prevent medical expense catastrophe?

Since I live in NY (and therefore have a health insurer based in NY), it is comforting to know that there will be some protections in NY starting March 31, 2015. At the link above I found the following, which seems like a great idea (although I'm sure it's going to cause massive headaches): Moreove...
by neurosphere
Sun Sep 21, 2014 2:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: how to prevent medical expense catastrophe?
Replies: 174
Views: 7524

Re: What evidence would prove the Boglehead mentality wrong?

On a personal level, sound quantitative analysis can (and has and does) effectively outperform if tied to a mechanical system that excludes emotions, such as "hold for exactly one year (or x # of months) no matter what then sell (unless it still qualifies on that date)". I haven't read th...
by neurosphere
Sat Sep 20, 2014 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: What evidence would prove the Boglehead mentality wrong?
Replies: 109
Views: 7628

Re: Starting 401(k)

I was confused by this after-tax vs Roth issue the first time I encountered it my wife's 401k long ago. As others have already explained, while a Roth contribution is a type of "after-tax" contribution, it's not the same as a non-Roth "after-tax" contribution which is available i...
by neurosphere
Sat Sep 20, 2014 2:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Starting 401(k)
Replies: 8
Views: 569

Re: Student Loan vs 401k dilemma

Welcome to Bogleheads! First off, I don't think there is any bad decision. But deciding on the BEST decision is not easy, because as usual when in it comes to investing, it involves making predictions about the future. In this case, in order to definitively answer the question, you'd need to know th...
by neurosphere
Sat Sep 20, 2014 1:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Student Loan vs 401k dilemma
Replies: 21
Views: 1462

Re: "Password Therapy"

Has anyone heard of this and use it? Basically, it's where one creates computer passwords that serve as prompts for self-improvement such lose10pounds, quitsmoking, getmoresleep, etc. I'm sure there is a free service somewhere which will email you any phrase you want as often as you want. Mine woul...
by neurosphere
Wed Sep 17, 2014 5:38 pm
 
Forum: Personal Consumer Issues
Topic: "Password Therapy"
Replies: 3
Views: 348

Re: Setting up money management practice as part time MD

Thank you for your input neurosphere! Sounds like I should stick with my day job :D. Was hoping that this type of business could be a nice transition away from medicine into something I may enjoy doing more. Seems like the boglehead philosophy does not translate into dollars for an advisor. Do not ...
by neurosphere
Tue Sep 16, 2014 11:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Setting up money management practice as part time MD
Replies: 11
Views: 1372

Re: Can estimated tax replace withholding?

There is a lot of good information about w-4 forms and withholding here: http://www.irs.gov/Individuals/Withholding-Compliance-Questions-&-Answers One thing to note is that it USED to be true (but no longer) that an employer had to notify the IRS if an employee claimed more than 10 allowances. W...
by neurosphere
Sat Sep 06, 2014 6:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can estimated tax replace withholding?
Replies: 11
Views: 676

Re: Can estimated tax replace withholding?

Folks, Is it permissible for someone to make estimated tax payments instead of having the employer withhold taxes? I believe the answer is no as IRS Pub 505 says You can claim only the number of allowances to which you are entitled. I used to do this often, where I would claim enough exemptions on ...
by neurosphere
Sat Sep 06, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can estimated tax replace withholding?
Replies: 11
Views: 676

Re: Rental Car Insurance

Credit card coverage is secondary coverage and you'd have to go through your own insurance first for anything if you waive the rental company's insurance. FYI, I received a notice not 10 minutes ago that my Chase Sapphire Preferred card was changing the terms of their car rental insurance from seco...
by neurosphere
Thu Sep 04, 2014 3:04 pm
 
Forum: Personal Consumer Issues
Topic: Rental Car Insurance
Replies: 18
Views: 1282

Re: Fee-Only Advisor Cost?

Your portfolio size would help determine whether a 3% SWR is doable . There are good threads on a variable 4% SWR. Nothing works in all situations/markets. Anyway, was just trying to help. The previous post also mentioned that it might take 5 opinions or 7 or 12. Here you get dozens. Trying to figu...
by neurosphere
Thu Aug 28, 2014 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fee-Only Advisor Cost?
Replies: 26
Views: 1498

Re: Can someone make a living as a Boglehead financial advis

@neurosphere, whenever I see the phrase "piece of mind", I think of you. Maybe you can use that in your marketing somehow. "Get peace of mind from a piece of Neurosphere's mind." Ha, I'll have to see how I can work that in. :) Although, honestly, I have found some success with &...
by neurosphere
Wed Aug 27, 2014 5:06 pm
 
Forum: Investing - Theory, News & General
Topic: Can someone make a living as a Boglehead financial advisor?
Replies: 25
Views: 3815

Re: Can someone make a living as a Boglehead financial advis

On the other hand, a Boglehead investment advisor would appeal to a different type of individual: someone who believes costs are critical and someone who probably is knowledgeable enough to be a DIY investor in the first place using a handful of index funds and B&H. How could I make a living of...
by neurosphere
Wed Aug 27, 2014 4:18 pm
 
Forum: Investing - Theory, News & General
Topic: Can someone make a living as a Boglehead financial advisor?
Replies: 25
Views: 3815

Re: Dave Budge: The Indexing of Everything

I'm not sure it would work for all markets. I'd like to hear someone that has a more concrete understanding of this, but I feel like the stock market continually reaches new heights based on people's emotional thoughts and greed in a sense, rather than actually based on companies doing better and b...
by neurosphere
Mon Aug 25, 2014 11:57 am
 
Forum: Investing - Theory, News & General
Topic: Dave Budge: The Indexing of Everything
Replies: 9
Views: 1460

Re: What if there were only index funds?

Would individual companies get to own any of their shares? Could companies create new shares? What about employee stock options and other compensation given as shares? Would any individuals (or brokerage houses) be prevented, i.e. by law, to buy and sell individual shares? Even if there were "o...
by neurosphere
Mon Aug 25, 2014 11:30 am
 
Forum: Investing - Theory, News & General
Topic: What if there were only index funds?
Replies: 23
Views: 2200

Re: Dave Budge: The Indexing of Everything

There will never be 100% indexing. If nothing else, think about stock shares held directly by the company, or shares held individually by insiders, or shares given as option/bonuses/matches/etc to employees. All of those entities would effectively be "active managers" making daily decision...
by neurosphere
Sun Aug 24, 2014 7:26 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Budge: The Indexing of Everything
Replies: 9
Views: 1460

Re: Chase Freedom reward changes in 2016

I'm keeping this card. Essentially, the main change which affects me is the points earned just went from 1.1% to 1%. Overall, this reduction in value is not enough to change the cards I use. I have this card for 1) taking advantage of the 5% categories when they match with my spending habits and 2) ...
by neurosphere
Sun Aug 24, 2014 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Chase Freedom reward changes in 2016
Replies: 25
Views: 3969

Re: Dave Budge: The Indexing of Everything

These two statements are all you need to read: [1]For the value manager, however, the inefficiencies created by indexing might be the biggest advantage to gaining long term alpha in many years....[2]And being an index junkie reduces the number of great opportunities in the market that exist. 1) Fals...
by neurosphere
Sun Aug 24, 2014 12:34 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Budge: The Indexing of Everything
Replies: 9
Views: 1460

Re: Kitces - Think Twice about those Conversions

An IRA can continue for a very long time -- the lifetimes of the IRA owner and his/her spouse, followed by the life expectancies of the beneficiaries. I don't think it's possible to predict future income tax rates over such a long time, other than that they will change many times. He is correct tha...
by neurosphere
Sun Aug 24, 2014 10:46 am
 
Forum: Investing - Theory, News & General
Topic: Kitces - Think Twice about those Conversions
Replies: 15
Views: 2992

Re: Spouse not ready to cut ties with financial advisers

Given the amount of effort they put into our portfolios, we pay them something like $10,000 an hour. That's why I'm a big fan of hourly planners. For any moderate to large portfolio, the "effective hourly rate", if paying AUM fees, is huge. The problem is, hourly planners can sometimes be...
by neurosphere
Sat Aug 23, 2014 2:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 9051

Re: Goldman-Sachs: bonds to 4%, 6% stock returns

This is a good time for that chart which Nisi posts (which I couldn't immediately find) which compared the predictions of "experts" vs. what interest rates actually do. The chart illustrates that then rates are increasing, experts consistently predict that they will level off or drop much ...
by neurosphere
Tue Aug 19, 2014 11:48 am
 
Forum: Investing - Theory, News & General
Topic: Goldman-Sachs: bonds to 4%, 6% stock returns
Replies: 20
Views: 2821

Re: How to find a business manager and/or FT accountant?

To me, this sounds like a systems problem. When my engineering firm was about that size, I invested in a big, expensive, accounting and project management software system. It was a big expense for the small company, but I knew I wanted to grow the company and we would need strong financial manageme...
by neurosphere
Thu Aug 14, 2014 8:41 am
 
Forum: Personal Finance (Not Investing)
Topic: How to find a business manager and/or FT accountant?
Replies: 14
Views: 833

Re: How to find a business manager and/or FT accountant?

This is pretty basic financial stuff that a competent business manager should be able to handle. Total revenues of $1M seems small for an engineering company in NYC. It might be challenging to hire someone who can setup and properly oversee these finances at a reasonable salary. Yes, it seems it sh...
by neurosphere
Thu Aug 14, 2014 8:37 am
 
Forum: Personal Finance (Not Investing)
Topic: How to find a business manager and/or FT accountant?
Replies: 14
Views: 833

Re: How to find a business manager and/or FT accountant?

I can suggest someone with experience in such a setting. The person is in jail though because they stole lots of money from their employer whose description matches the one you described. It was easy because the principals didn't know what was going on. Absolutely. There is a lot of potential for f...
by neurosphere
Thu Aug 14, 2014 8:34 am
 
Forum: Personal Finance (Not Investing)
Topic: How to find a business manager and/or FT accountant?
Replies: 14
Views: 833

How to find a business manager and/or FT accountant?

Hi all, I have another "friend in need" situation, in an area in which I can't really help. Personal finance? Yes, I can help. Practical help with the day to day financial operations of a business? Not so much. Anyway, in summary, my friend works as an employee (in a senior leadership type...
by neurosphere
Wed Aug 06, 2014 8:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to find a business manager and/or FT accountant?
Replies: 14
Views: 833

Re: Suggestions for Real Estate Attorney in NY/NYC?

Thanks all for your suggestions/help! I'm going to pass these suggestions onto my friend.

NS
by neurosphere
Wed Aug 06, 2014 7:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions for Real Estate Attorney in NY/NYC?
Replies: 7
Views: 662

Re: Creating a not for profit - itemized deductions question

Are you asking if you can set up your own charitable foundation, and then make personal donations to the charity which would then distribute the money? I'm certainly not an expert, but sure, people do this all the time. Just about every "super" wealthy person seems to have their own person...
by neurosphere
Tue Aug 05, 2014 10:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Creating a not for profit - itemized deductions question
Replies: 4
Views: 230

Re: HSA Strategy for high income earners

Keeping the records could be important if you take a lot out of the HSA in any one year; while I don't work for the IRS, I would assume that the IRS would see a $40,000 HSA withdrawal as a potential audit flag, just as it would see a $40,000 medical expense deduction. (Aside) 2 years ago my wife's ...
by neurosphere
Mon Aug 04, 2014 9:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Strategy for high income earners
Replies: 79
Views: 5749

Re: HSA Strategy for high income earners

Suppose one withdraws cash today from my HSA for bills incurred in the past. I assume one would only need to keep those receipts until the audit period has passed on the current tax return, i.e. three-ish years?
by neurosphere
Mon Aug 04, 2014 7:31 am
 
Forum: Investing - Help with Personal Investments
Topic: HSA Strategy for high income earners
Replies: 79
Views: 5749

Suggestions for Real Estate Attorney in NY/NYC?

Hi all, a dear friend has a big problem on her hands and needs professional help, and I told her I see if anyone here has a suggestion. She bought a starter apartment in a 600-unit co-op last year. It turns out there is all sorts of potential fraud going on among the president of the co-op (who also...
by neurosphere
Mon Aug 04, 2014 7:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions for Real Estate Attorney in NY/NYC?
Replies: 7
Views: 662

Re: HSA Strategy for high income earners

We started out that way, and then slightly modified so that small things we pay with the HSA debit card and big things we pay out of pocket. Simplifies record keeping. In my dotage I'll be happy not to have to track hundreds of $15 receipts for all kinds of Rx miscellany. I've recently come to the ...
by neurosphere
Sat Aug 02, 2014 1:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Strategy for high income earners
Replies: 79
Views: 5749

Re: Safe Harbor 401(k)

The 401(k) is a relatively small slice of my total portfolio, so I'm not losing sleep or anything.... (snip) So, since I don't know what it is, and I'm unlikely to find out, the follow up question is 1) do I include the balance of the 401(k) when calculating asset allocation and 2) if so, how do I ...
by neurosphere
Thu Jul 31, 2014 3:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safe Harbor 401(k)
Replies: 15
Views: 1044

Re: Safe Harbor 401(k)

Wait. Clarify for me. You make employee elective contributions into your 401k, and have no say in how it gets invested? And when someone else invests it for you, you don't get told how it was invested for you? Something sounds fishy. There has to be more to this story. HR has to provide you with inf...
by neurosphere
Wed Jul 30, 2014 8:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safe Harbor 401(k)
Replies: 15
Views: 1044

Re: How T-C members & family get TREA outside of employer pl

ralph124cf wrote:We often mention Roth 401(k)s here, but do Roth 403(b)s exist yet?

Actually, just today I was helping someone with choosing investments in their new job, at a University which has a Roth option within their 403b.
by neurosphere
Wed Jul 09, 2014 8:57 pm
 
Forum: Investing - Theory, News & General
Topic: How T-C members & family get TREA outside of employer plans
Replies: 15
Views: 1291
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