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Re: Good scotch recommendations, where to buy

I'm not ancient, but like older generations I like blended scotch on ice. JW Black is a good pour and I've never had anyone say no to a glass. Inexpensive blends that are still good are Passport and White Horse, which is a blended version of Lagavulin. I think that scotch is better to drink than to...
by neurosphere
Mon Apr 21, 2014 7:51 pm
 
Forum: Personal Consumer Issues
Topic: Good scotch recommendations, where to buy
Replies: 48
Views: 2771

Re: SS Strategy Metric

I wanted to take a moment to address a pet peeve of mine. The commonly touted 8% annual return for delaying SS benefits is misleading. The number is off based on at least two factors. The first error is one of basic arithmetic. (I will use the data for people born between 1948 and 1954 for simplici...
by neurosphere
Wed Apr 16, 2014 3:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Strategy Metric
Replies: 55
Views: 3126

Re: Curious on tax return for mom and dad..

Hey guys. Had to bump this, as my parents tax man only gave them refund of 487 instead of 3250. It is that difference of my little sister being a dependant or not. She is 20yo and lives in dorm at UB, and then home the rest of the time. Why could this have happened? I am waiting on a call back.. As...
by neurosphere
Wed Apr 16, 2014 2:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Curious on tax return for mom and dad..
Replies: 22
Views: 1840

Re: NYTimes: Inexpensive Advice for Index-Fund Investments

The roboadvisor (eMoney) video was a little bit cheesy. I have nothing against robo advisors or human advisors, but the blatant 'tug at the heart strings' persuasion is exactly what many who come to this site feel trapped in; the personalities and personal relationships many advisors have with some...
by neurosphere
Tue Apr 15, 2014 8:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: NYTimes: Inexpensive Advice for Index-Fund Investments
Replies: 15
Views: 2411

Re: NYTimes: Inexpensive Advice for Index-Fund Investments

The LearnVest article: http://www.nytimes.com/2013/07/27/your-money/financial-planners/aiming-to-bring-financial-planning-to-the-masses.html thanks! I think that was it. Although it was much more optimistic than I remembered it. I may have combined two different articles in my head into one. I gues...
by neurosphere
Tue Apr 15, 2014 7:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: NYTimes: Inexpensive Advice for Index-Fund Investments
Replies: 15
Views: 2411

Re: financial advisor

they say he helps them with their finances. I max out my ira, my 401k and am working to build up my emergency fund. what do you think? Wait, does he help them with their finances, or help himself to their finances? :D Spend some time here, ask some questions, and you'll likely come to the conclusio...
by neurosphere
Tue Apr 15, 2014 7:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: financial advisor
Replies: 6
Views: 395

Re: NYTimes: Inexpensive Advice for Index-Fund Investments

DARN, which I could remember it... flipping through some money magazine in a dentist's office there was an article that mentioned the very salient point that several firms like Wealthfront and Betterment have already folded . I have of course also forgotten (YES, I'm old) the names of the firms... ...
by neurosphere
Tue Apr 15, 2014 7:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: NYTimes: Inexpensive Advice for Index-Fund Investments
Replies: 15
Views: 2411

Re: 40% tax rate???

Then again, I did sing Livin' On A Prayer at my daughter's birthday party last Saturday. Definitely looking foolish in public. I guess the alcohol had the desired effect. Ok, not to hijack this thread with a completely OP and lockable comment, but is there a video of this? Because I'll bet Boglehea...
by neurosphere
Mon Apr 14, 2014 8:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1218

Re: Scholarship taxed at parents' rate? New for 2013? Really

But, last year there was no mention of scholarships, and the heading was then "Investment Income," not "Unearned Income." So doesn't it appear to be an addition of that item? Yes, the item was added to this list. But this list is not the law. This list represents items which are...
by neurosphere
Mon Apr 14, 2014 8:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Scholarship taxed at parents' rate? New for 2013? Really?
Replies: 3
Views: 579

Re: Graphical representation of some SS benefits concept

I had some questions via email and PM, so I thought I would address a few of them here. First, many people missed that the post actually has three pages, and you need to click the "1,2,3" at the bottom of the post to advance the page. Thus several folks missed a lot of additional text. So ...
by neurosphere
Sun Apr 13, 2014 9:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Graphical representation of some SS benefits concept
Replies: 2
Views: 617

Graphical representation of some SS benefits concept

Hi all. I was playing around with "ANYPIA" (the downloadable benefits calculator) the other day, and I jotted down the benefits estimates for a few different scenarios. One thing led to another, and I started to develop a table of sorts. But anyone who has played around with ANYPIA knows t...
by neurosphere
Sat Apr 12, 2014 4:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Graphical representation of some SS benefits concept
Replies: 2
Views: 617

Re: Financial question about a Doctor’s Visit

Just to clarify, these "blood draw" charges are from the lab - not the Physician, since the blood draw at those times was done at the lab. Ok, thanks. But my guess is that insurance companies (or medicaid/medicare) are not going to pay for the draw itself whether it was done by staff in t...
by neurosphere
Wed Apr 09, 2014 9:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial question about a Doctor’s Visit
Replies: 77
Views: 3699

Re: Financial question about a Doctor’s Visit

One aspect that I remember is that the fee for drawing the blood (not a trivial "list price") was always dropped to zero by the insurance company agreements. Medicaid and Medicare do not reimburse the physician for the blood draw, and every insurance company I know that my colleagues work...
by neurosphere
Wed Apr 09, 2014 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial question about a Doctor’s Visit
Replies: 77
Views: 3699

Re: Can I get some alpha? (DFA / Wealthfront)

I bought a bunch of alpha the other day, and placed it next to me in the front seat of my car for the long trip home. Little did I know, the folks who sold me the alpha tied some heavy beta to the bumper. When I called to complain, they directed me to the super-duper fine print of the purchase contr...
by neurosphere
Wed Apr 09, 2014 1:38 pm
 
Forum: Investing - Theory, News & General
Topic: Can I get some alpha? (DFA / Wealthfront)
Replies: 58
Views: 2965

Re: Do Active Investors have a short-term incentive?

He insists that individual value-investors investing their own money, can take a longterm buy and hold approach to value stocks and ignore all the fluctuations. Who decides which stocks are value stocks, or even, which stocks have value? Your friend? How does one pick stocks for the "long-term...
by neurosphere
Wed Apr 09, 2014 10:47 am
 
Forum: Investing - Theory, News & General
Topic: Do Professional Active Investors have short-term incentives?
Replies: 10
Views: 754

Re: Livescribe Smartpen - which model? For searchable noteta

the key is the audio. If you HAVE to have audio recording (and using a separate recorder or your smartphone won't do) the Smartpen is great. If you only need copies and OCR of your notes, then I strongly suggest putting that money towards a scanner. I love my scansnap by the way, and could never liv...
by neurosphere
Mon Apr 07, 2014 11:30 am
 
Forum: Personal Consumer Issues
Topic: Livescribe Smartpen - which model? For searchable notetaking
Replies: 6
Views: 331

Re: Financial question about a Doctor’s Visit

Otherwise, there are restrictions on sending test results direct to the patients (both federal and state law, I believe). As of two months ago, this is no longer the case: https://www.federalregister.gov/articles/2014/02/06/2014-02280/clia-program-and-hipaa-privacy-rule-patients-access-to-test-repo...
by neurosphere
Sun Apr 06, 2014 1:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial question about a Doctor’s Visit
Replies: 77
Views: 3699

Re: Financial question about a Doctor’s Visit

Why did the doc use an out-of-network lab? Perhaps he did not trust the first lab? I can give one example why doctors might choose an out of network lab, from personal experience. Suppose I want to order test "a" ("test a" is an actual test in my mind which I choose not to name,...
by neurosphere
Sun Apr 06, 2014 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial question about a Doctor’s Visit
Replies: 77
Views: 3699

Re: Employee Fiduciary and The Online 401K

Thanks for the answers. One vote each for EF and Online401k. And no "AVOID" comments. My personal view is that 401k for a two employee company will be lot of overhead. Stick with SIMPLE IRA with Fidelity and the fees is $25 per year per employee (deducted from their account) or $250 (paid ...
by neurosphere
Fri Apr 04, 2014 2:11 pm
 
Forum: Investing - Theory, News & General
Topic: Employee Fiduciary and The Online 401K
Replies: 8
Views: 879

Re: Free "If You Can" Kindle and .pdf eBook

I just paid the $0.99 (impulse buy! Should have waited until tomorrow... :oops: ) I'm giving a talk today to a group of psychiatry residents, and have already updated my talk with a link to this e-book (hopefully they'll download it tomorrow) and also updated my talk with this quote from the book: A...
by neurosphere
Fri Apr 04, 2014 8:58 am
 
Forum: Investing - Theory, News & General
Topic: Free "If You Can" Kindle and .pdf eBook
Replies: 52
Views: 7199

Re: Employee Fiduciary and The Online 401K

Bumping this older thread to get an update... I have a friend with 2 employees thinking about offering a 401k. A brief google search turned up these two firms as among the cheapest. Can you tell us what you finally decided on? Are you happy with the decision? Anyone else have any first-hand info on ...
by neurosphere
Thu Apr 03, 2014 5:25 pm
 
Forum: Investing - Theory, News & General
Topic: Employee Fiduciary and The Online 401K
Replies: 8
Views: 879

Re: Private elementary school tuition - any tax breaks?

My "genius" cousin approached the admin of his kid's private school and said he wanted to pay the school tuition as a "contribution" but wanted the admin to treat it as the tuition payment, so my cousin could deduct the tuition from his income tax. I would have accepted the cont...
by neurosphere
Thu Apr 03, 2014 9:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Private elementary school tuition - any tax breaks?
Replies: 11
Views: 841

Re: Setting up money management practice as part time MD

Is this even reasonable for a doc interested in finance? Working mostly with medical trainees and other attending physicians? Practice building through lectures at local medical schools, residencies, etc. What credentials if any are needed? Seems like a fellow physician would garner more trust than...
by neurosphere
Thu Apr 03, 2014 9:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Setting up money management practice as part time MD
Replies: 10
Views: 986

Re: I need an ETF equivalent to VMLTX (Muni Limited Tax Exem

This is for an HSA account that I might be moving to another administrator where the Vanguard mutual funds might not be available plus I would like to get a taxable version since it will be in a tax free account. What I see at vanguard is the short term total bond index, investment grade, treasurie...
by neurosphere
Wed Apr 02, 2014 12:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: I need an ETF equivalent to VMLTX (Muni Limited Tax Exempt)
Replies: 6
Views: 725

Re: Need advice on liquidating UGTM accounts

I came across something written in a Vanguard brochure called "Learn about saving for college". In it, there is the following statements (emphasis mine): If you're the custodian of an UGMA/UTMA account, you may elect to transfer all or a portion of those assets to a 529 college savings pla...
by neurosphere
Tue Apr 01, 2014 10:06 am
 
Forum: Investing - Help with Personal Investments
Topic: Need advice on liquidating UGTM accounts
Replies: 38
Views: 1861

Re: American Funds?

My aunt is in her 70s and not in the best of health. She called me because her broker recently recommended she move some money into American Funds. The words in bold above are enough to tell us that any suggestions your broker has will likely benefit him, but may or may not be appropriate your aunt...
by neurosphere
Mon Mar 31, 2014 5:09 pm
 
Forum: Investing - Theory, News & General
Topic: American Funds?
Replies: 37
Views: 2876

Re: 401k fee lawsuits

There is nothing illegal in offering actively managed funds in a plan. Fiduciary standards for retirement plans only require that the fees be reasonable for the services provided. In the Deere case the 7th circuit held that plan fiduciaries are not required to search to find the funds with the lowe...
by neurosphere
Mon Mar 31, 2014 5:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: [New 8th Circuit Ruling Striking Down High 401K Fees]
Replies: 44
Views: 2493

Re: Using 401k to set up shop after retirement...

Hmm. Depending on your age, it might not be a bad idea to take some 401k money out, assuming you can take that out tax-free due to start-up or other business expenses. After all, any loan taken out would have to be paid back either with business profits if any, or 401k withdrawals in the future. Alt...
by neurosphere
Mon Mar 31, 2014 9:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Using 401k to set up shop after retirement...
Replies: 2
Views: 301

Re: Need Rollover help! Solo 401k as employee?

For the IRS, intent matters. Good point. Though my LLC has been fairly inactive in the past 3 years, I do plan to use it more in the future. Plus I have the possibility of making more 1099 income this year. It just wouldn't be my main source of income. Sounds like it's possible as long as I maintai...
by neurosphere
Mon Mar 31, 2014 8:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Need Rollover help! Solo 401k as employee?
Replies: 9
Views: 430

Re: “Status Quo” Bias in investing. Does it hurt or help?

As for there possibly being other cognitive biases responsible for wrong decisions, there are indeed many of those and some of them - and by far not all of them - are listed in our wiki under Behavioral Pitfalls. Speaking of behavioral pitfalls, check out the newest Bogleheads Blog post: http://www...
by neurosphere
Sun Mar 30, 2014 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: Need Rollover help! Solo 401k as employee?

Yes I do have a small business LLC that I established when I was an independent contractor. I don't plan on contributing to the solo 401k since I already have a work-related 401k. I just want to shelter the money from the prorata rule. Also aren't you prevented from contributing to a solo 401k if y...
by neurosphere
Sun Mar 30, 2014 2:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need Rollover help! Solo 401k as employee?
Replies: 9
Views: 430

Re: Does each 10% in bonds cost 0.5% in return?

How about this data. If you look at the last column for the 1926-2012 real returns, you'll see that yes, there is (roughly) a 0.5% increase in return for each 10% added in stocks. http://s24.postimg.org/661059fwl/Capture.jpg Neurosphere Edit: here are the benchmarks Vanguard used to make the chart: ...
by neurosphere
Sun Mar 30, 2014 1:23 pm
 
Forum: Investing - Theory, News & General
Topic: Does each 10% in bonds cost 0.5% in return?
Replies: 23
Views: 1931

Re: Solo 401K and future expansion

Hiring employees who are not spouses of owners will make you ineligible for Solo 401(k). I don't think hiring employees using another corporation (that you own) will work around this. IRS has the concept of controlled group. I googled "controlled group solo 401k" and found many hits. Here...
by neurosphere
Sun Mar 30, 2014 1:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401K and future expansion
Replies: 3
Views: 258

Re: “Status Quo” Bias in investing. Does it hurt or help?

Also, I could be reading you wrong, but I'm not certain your examples are all or always a matter of status quo bias (a "preference for the current state of affairs," per the wiki), or at least it could also be simple inertia, procrastination, indecision, confusion over what to do, or conf...
by neurosphere
Sun Mar 30, 2014 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: “Status Quo” Bias in investing. Does it hurt or help?

The concept of good enough is often subsumed by greed for optimal. As I've aged, I have more appreciation of enough. My portfolio is now good enough so I see no need to strive for more of any other asset classes nor to simplify. Yes, "good enough" is good enough. The enemy of the good is ...
by neurosphere
Sun Mar 30, 2014 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: “Status Quo” Bias in investing. Does it hurt or help?

I think my own answer is embedded in the earlier comments. I would not rebuy the same things. I'd look at valuations, then decide what would make the best sense at this particular time. Good luck finding your own way in this. It's a common problem, so hopefully you hear a variety of different persp...
by neurosphere
Sun Mar 30, 2014 12:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: What I would do.

What would YOU do if you woke up one morning to find “all cash” in your accounts, and had to reconstruct your portfolio? Neurosphere: * If I had only tax-advantaged account(s) , I would select Vanguard Target Retirement Fund(s) with the appropriate (for me) stock/bond ratio. * If I had both tax-adv...
by neurosphere
Sun Mar 30, 2014 12:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: “Status Quo” Bias in investing. Does it hurt or help?

Is your question really about AA? If you could make any changes without tax implications, would you change your AA? I see no reason too. In my particular case, I am very happy with my asset allocation as it relates to stocks/bonds and US/International. It's the details of how to do this where I wou...
by neurosphere
Sun Mar 30, 2014 12:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: “Status Quo” Bias in investing. Does it hurt or help?

I do not believe I am stuck in the Status Quo in my tax-advantaged accounts (except for some early redemption fees which will go away in a couple of months), but maybe I am kidding myself. I am certain that in taxable I have no loss aversion , in that I follow my tax-loss harvesting rules noted sev...
by neurosphere
Sun Mar 30, 2014 12:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: IRS letter claiming return is late - anyone experience t

Good to know we only need to send empty envelopes in the future, and not waste time filling out those silly forms. Well, how would this play out? First, why would you mail an empty envelope? Perhaps you can't pay, or haven't finished your taxes yet. So you intentionally mail an empty envelope? At t...
by neurosphere
Sun Mar 30, 2014 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: IRS letter claiming return is late - anyone experience this?
Replies: 34
Views: 3445

Re: Reading room chair - what to pay and where to purchase?

3) Ideally, price ceiling is max of $250 for the chair. Preferably sub-$200. Some things are worth a premium. Stressless chairs are one of them. Um, aren't the stressless chairs around $4000? There is premium, and there is PREMIUM! :D For what it's worth, my father has one of these Stressless chair...
by neurosphere
Sat Mar 29, 2014 8:18 pm
 
Forum: Personal Consumer Issues
Topic: Reading room chair - what to pay and where to purchase?
Replies: 29
Views: 2442

“Status Quo” Bias in investing. Does it hurt or help?

Status quo bias is a cognitive bias (http://en.wikipedia.org/wiki/Status_quo_bias) which basically states that we will tend to prefer the existing or default state of things when compared to making an active decision to change a certain plan of action. Another way to say it, is that the default path...
by neurosphere
Sat Mar 29, 2014 8:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: “Status Quo” Bias in investing. Does it hurt or help?
Replies: 21
Views: 947

Re: Why does a Boglehead move to an adviser at 1.25% AUM?

gips still wins my heart from a previous thread when he stated the question to ask a financial manager: how can I beat the Russell 2000 on a risk adjusted basis and if I can't, why do I need your help? The clients who probably need Bogleheads or Bogleheads-approved advisors are precisely the client...
by neurosphere
Fri Mar 28, 2014 7:49 am
 
Forum: Investing - Theory, News & General
Topic: Why does a Boglehead move to an adviser at 1.25% AUM?
Replies: 63
Views: 4241

Re: Why does a Boglehead move to an adviser at 1.25% AUM?

The issue is not so much the hiring of an advisor, as you note, it's the hiring of an advisor with a 1.25% fee, apparently felt to be justified because the advisor can, somehow, add alpha in excess of the fee. There are plenty of hourly advisors or low-AUM advisors who will hand-hold for much less t...
by neurosphere
Wed Mar 26, 2014 9:06 pm
 
Forum: Investing - Theory, News & General
Topic: Why does a Boglehead move to an adviser at 1.25% AUM?
Replies: 63
Views: 4241

Re: "Spinning Off" my 20 Year Old Son

My father used to say, when I was young and being a bratty teenager, that the happiest day of his life would be when I came to him and said "Dad, I don't need you, I'm going to do whatever I want!" and actually have the ability to do so. :D I think it's perfectly fine to set the expectatio...
by neurosphere
Wed Mar 26, 2014 10:17 am
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Waze founder starting financial-planning company

... You hereby grant FeeX and its service providers a limited power of attorney , and appoint each as your true and lawful attorney-in-fact and agent Expletive-Expletive ! [pre-deleting what LadyGeek would have deleted for me]. Perhaps the language is more inflammatory that it seems. Most AUM finan...
by neurosphere
Tue Mar 25, 2014 8:22 pm
 
Forum: Investing - Theory, News & General
Topic: Waze founder starting financial-planning company
Replies: 14
Views: 1424

Re: Worth forming an LLC for side gig? Tax question

Fact #1: I have a small side gig that earns about $400-$500 a month in revenue. I am tracking the expenses I generate in the process related to the side gig. Fact #2: I use the standard deduction when I do my income taxes. Question: Ignoring the liability benefits of an LLC, is it worth forming an ...
by neurosphere
Tue Mar 25, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Worth forming an LLC for side gig? Tax question
Replies: 9
Views: 610

Re: Attempt at explaining the backdoor Roth to my new accoun

My former accountant tried to tell me that my state (AL) did not recognize back door roths and he tried to say I would owe state tax on the entire amount of the conversion last year. Um....yeah, not using that accountant this year. This was an accountant at a good-sized firm in town and also said n...
by neurosphere
Tue Mar 25, 2014 8:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Attempt at explaining the backdoor Roth to my new accountant
Replies: 26
Views: 2271

Re: Social Security Statement Now Online?

Here's a fun calculator if you want to see how much social security you will get when you retire (in today's dollars or future dollars--your choice!) Not my idea of a fun calculator when you have to "Enter your annual earnings from 1951 to 2013" in an array of entry fields. :) Hmm, I gues...
by neurosphere
Mon Mar 24, 2014 11:29 am
 
Forum: Investing - Theory, News & General
Topic: Social Security Statement Now Online?
Replies: 32
Views: 3467

Re: Solo 401k Form 5500 requirements; Filed 5500 are public!

4. If you add a Roth component to your Solo 401k, presumably your account balance would grow quicker. Does the Roth total get included in the total that triggers the 5500 filing requirements? What do you mean "grow quicker"? The requirement for reporting assets via form 5500 specify plan ...
by neurosphere
Sat Mar 22, 2014 12:26 pm
 
Forum: Investing - Theory, News & General
Topic: Solo 401k Form 5500 requirements; Filed 5500 are public!
Replies: 6
Views: 769
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