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Re: Bank account to teach kids

At age 5? Keep it simple--a piggy bank. Or... every Christmas the local CVS store has these... for about ten bucks you can get a kind of big plastic jar with a lid containing a digital gadget that detects and total the coins that pass through it. So you can see the coins in the jar AND read the numb...
by nisiprius
Mon Jul 28, 2014 11:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Bank account to teach kids
Replies: 8
Views: 161

Re: my quarterly hedge fund update

...The price of chicken wings is often higher than thighs and sometimes more than breasts !... Because of the demand for chicken wings to make Buffalo wings. Also, I'm not too clear on this but it looks for all the world to me like they have started to breed chickens for meatier wings. Actually I'd...
by nisiprius
Mon Jul 28, 2014 11:00 am
 
Forum: Investing - Theory, News & General
Topic: my quarterly hedge fund update
Replies: 3
Views: 398

Re: Do Bogleheads Feel Wealthier?

An interesting question, but I don't know how to answer it. I don't even know how to answer the question "do I feel wealthier then my non-Boglehead friend Sandy?" It would take a heck of a lot of money, and skill in devising a psychological testing instrument, and statistic savvy figuring ...
by nisiprius
Mon Jul 28, 2014 7:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads Feel Wealthier?
Replies: 34
Views: 1607

Re: Vanguard quietly adds longevity annuities

...Yes as a consumer I'd love to be insured against this, but at what price?... First, the insurance company doesn't have to take any inflation risk themselves, they can buy TIPS and let the Treasury take it. If they think they can do better themselves, well, they're big boys, and risk is their bus...
by nisiprius
Sun Jul 27, 2014 9:57 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: Surge protectors

A surge protector WILL NOT help. I have a blender and lately it has been damaging my wall sockets. i.e. after blending frozen fruit for a minute or so, the blender will suddenly become inoperable and shut off. Then when I unplug it and plug it back in, it won't turn on because the wall socket is dam...
by nisiprius
Sun Jul 27, 2014 9:39 pm
 
Forum: Personal Consumer Issues
Topic: Surge protectors
Replies: 15
Views: 935

Re: "Why no one should use brokerage accounts" Really?

I suppose the example is fictitious. Can you provide a link to an article where this actually happened as outlined by Kotlikoff? Is he writing about the clawbacks from the Madoff victims? Or something else? +1 Quite possibly there's a real problem, quite possibly that bill ought to be passed, but a...
by nisiprius
Sun Jul 27, 2014 6:52 pm
 
Forum: Investing - Theory, News & General
Topic: "Why no one should use brokerage accounts" Really?
Replies: 10
Views: 1031

Re: Social Security - Receive Any Letters Approaching Age 70

By the way... talk about missing the forest for the trees... I've just done a little casual Googling on what happens if you forget to file until well after age 70. I couldn't find anything. There are a gazillion articles fussing over claiming strategies and what a big mistake it is to use a suboptim...
by nisiprius
Sun Jul 27, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security - Receive Any Letters Approaching Age 70?
Replies: 10
Views: 804

Re: Social Security - Receive Any Letters Approaching Age 70

A friend asked me a few questions that I could not answer. 1-800-772-1213. I can't say this too often: my personal experience is that Social Security has answered their phone in a reasonable length of time and has been reasonably intelligent and helpful. 1-800-772-1213. If he has questions about So...
by nisiprius
Sun Jul 27, 2014 3:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security - Receive Any Letters Approaching Age 70?
Replies: 10
Views: 804

Re: Vanguard quietly adds longevity annuities

...I was *really* startled running the Fidelity retirement planner (the one that so far seems to best allow us to account for the "things" WE are likely to need) how very different the expected value was by including the software's choice of annuitizing (or choosing a few percentages of o...
by nisiprius
Sun Jul 27, 2014 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: favorite bogleheads posts?

LadyGeek wrote:At the time, we did send an email to the address on record requesting information. There was no reply. For an anonymous internet forum, that's the most we should do.
I agree, I understand, and didn't mean to be critical. I'm just sad about it.
by nisiprius
Sun Jul 27, 2014 3:22 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: favorite bogleheads posts?
Replies: 43
Views: 3127

Re: Treasury Direct--just blowing off steam

Is the following correct, based upon my reading of this thread: * When I sign up for a Treasury Direct account, I can sign up with TWO linked bank accounts. * Switching between these accounts as my Primary account within Treasury Direct can be done online and without filing forms Is the above corre...
by nisiprius
Sun Jul 27, 2014 3:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: What shoe size should I buy?

There is, alas, NO substitute for trying them on. None. Trying them on for a couple of weeks . All the online and brick-and-mortar shoestores I've dealt with understand this and have a reasonable return policy. That is to say, they know the shoes probably won't be in salable condition but they will ...
by nisiprius
Sun Jul 27, 2014 3:01 pm
 
Forum: Personal Consumer Issues
Topic: What shoe size should I buy?
Replies: 10
Views: 563

Re: Vanguard quietly adds longevity annuities

We don't know what future inflation is going to be, but 2% is more likely than 0%. If insurance companies are reluctant to offer inflation-indexed annuities, annuities with payments that annually increase at a 2 or 3% rate could be a good alternative. Is there a name for an immediate annuity with p...
by nisiprius
Sun Jul 27, 2014 2:54 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: favorite bogleheads posts?

I have to say by far the most useful and informative posts for me on this board were from bob90245 and his website which has been down for about 2 years: bob's financial website. He hasn't posted since then either. His website information was extremely helpful in guiding my wife and I into retireme...
by nisiprius
Sun Jul 27, 2014 2:42 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: favorite bogleheads posts?
Replies: 43
Views: 3127

Re: Another Schwab Question

My sister is not a US citizen and is not a US resident. She is now able to legally move a fairly large amount of money annually to the USA and hold it in USD. I am recommending that she get a Schwab account I spoke with Schwab and am convinced they know what they are doing. Then, I will suggest she...
by nisiprius
Sun Jul 27, 2014 2:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Another Schwab Question
Replies: 11
Views: 860

Re: Vanguard sued for charging too little

Isn't Vanguard a non profit? I've not seen Vanguard claim nonprofit status as the law defines it: In other words, Vanguard is structured as a "mutual" mutual fund company. https://about.vanguard.com/what-sets-vanguard-apart/why-ownership-matters/ Vanguard is chartered as a regular old bus...
by nisiprius
Sun Jul 27, 2014 1:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard sued for charging too little
Replies: 99
Views: 7435

Re: Vanguard sued for charging too little

I'm not a lawyer, but it unfortunately sounds to me as if there's at least SOMETHING to this lawsuit. These transactions certainly aren't arms-length transactions. On the other hand, the law is stupid and poorly written in the first place if it doesn't allow something like this. Mutual companies ar...
by nisiprius
Sun Jul 27, 2014 1:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard sued for charging too little
Replies: 99
Views: 7435

Re: Sshwab vs. Vanguard for index funds

See http://www.bogleheads.org/wiki/Schwab Focus on what's best for you. There are about 100 things more important than the brand name of the low-cost index fund you buy. If you have no other reasons for leaving Schwab, I would not leave them just to substitute Vanguard index funds for close-equivale...
by nisiprius
Sun Jul 27, 2014 8:05 am
 
Forum: Investing - Help with Personal Investments
Topic: Sshwab vs. Vanguard for index funds
Replies: 15
Views: 1499

Re: Vanguard sued for charging too little

Interesting. I am not a lawyer and can only watch the drama unfold. Vanguard's structure, with "Vanguard providing services to its mutual funds at artificially low, 'at-cost' prices," is hardly a secret. Vanguard's been driving "at-cost cafe" coffee trucks around trumpeting it. A...
by nisiprius
Sat Jul 26, 2014 10:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard sued for charging too little
Replies: 99
Views: 7435

Re: Vanguard quietly adds longevity annuities

Since I wasn't fussing over "actuarially fair," no, I didn't look at that, so let's do the simplest possible back-of-the-envelope calculation. In Vanguard's illustration, a man pays $26,894 dollars. He receives $1000/month starting at age 85. His SSA life expectancy is 5.80 years at age 8...
by nisiprius
Sat Jul 26, 2014 9:34 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: rewards checking account

I used one for three years. The deal gradually got to be less and less good and eventually I gave it up. I did some careful planning to make sure I could jump through the hoops. It worked. My experience was that it wasn't a trick--it wasn't like a carnival game that looks easy but is actually almost...
by nisiprius
Sat Jul 26, 2014 9:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: rewards checking account
Replies: 12
Views: 677

Re: AMZN's magical status

It totally mortifies me to say this. And I find it deeply troubling. But it is the truth. I smashed my previous Kindle through a dumb accident, and felt guilty about spending the money to replace it, so to punish myself I bought a Kindle "With Special Offers." (Ads). I figured that after a...
by nisiprius
Sat Jul 26, 2014 5:39 pm
 
Forum: Investing - Theory, News & General
Topic: AMZN's magical status
Replies: 26
Views: 2613

Re: Treasury Direct--just blowing off steam

It's been more than 24 hours. How is your pressure? We are worried about you. I love pressure. I eat pressure for breakfast. The reason I left my last job was that they didn't give me enough pressure--oh, wait, this isn't a job interview. I just received a courteous email reply from Treasury Direct...
by nisiprius
Sat Jul 26, 2014 5:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: Make Income the Outcome

...If you care about leaving a legacy then a major threat to your legacy is you living for a long time or otherwise outliving your income stream. Ensuring you have a adequate lifetime income not only protects the "floor" of your income but it also protects the "floor" of your le...
by nisiprius
Sat Jul 26, 2014 4:58 pm
 
Forum: Investing - Theory, News & General
Topic: Make Income the Outcome
Replies: 49
Views: 3708

Re: Make Income the Outcome

...Vanguard is not an insurance company so I would not expect them to have annuities at the top of their menu. They are just a damn good mutual fund company... And, as I said... and as you'd expect... and, arguably, as they ought to... they have the self-serving bias of the investment industry. Nev...
by nisiprius
Sat Jul 26, 2014 4:56 pm
 
Forum: Investing - Theory, News & General
Topic: Make Income the Outcome
Replies: 49
Views: 3708

Re: Vanguard quietly adds longevity annuities

[Are you disappointed because the payment amounts aren't close enough to actuarially fair (you didn't actually provide any data to evaluate that proposition), or simply because you wished that they offered payments that were fully inflation adjusting from annuitization date onwards? My complaint is...
by nisiprius
Sat Jul 26, 2014 12:05 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: Vanguard quietly adds longevity annuities

...Does the addition of a product like this convey anything about Vanguard's corporate philosophy or direction they might be moving? Or are they simply "responding to a need the marketplace demands"?... My personal GUESS--reading Vanguard's "mind"--is that they probably feel con...
by nisiprius
Sat Jul 26, 2014 10:57 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: Treasury Direct--just blowing off steam

..LOL, you've got me wanting to check the website I work on most... It is also insane that more and more computer systems are putting more and more restrictions on the possibilities for entering a name, a plain old name. You'd think that in the era of "I14N" it would getting better, but i...
by nisiprius
Sat Jul 26, 2014 10:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: Treasury Direct--just blowing off steam

...TIPS are probably close enough... I disagree strongly in a very limited sense. The investment characteristics of series I savings bonds and TIPS are so wildly different that I don't think they should be discussed in the same breath. I own both I bonds and TIPS and I like them both, but they are ...
by nisiprius
Sat Jul 26, 2014 10:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: Vanguard quietly adds longevity annuities

...I sure hope folks who jump at these puppies understand the risk they are taking on... Methinks the operative verb will be "push," not "jump." If I were king of the world I'd decree that any ad or brochure for any guaranteed-income product must include the words "(WARNING...
by nisiprius
Sat Jul 26, 2014 9:52 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: Vanguard quietly adds longevity annuities

I'm sympathetic to the concept of insurance. (I have NO connection with the industry other than as customer). Unlike many people, I have never been the least bothered by the idea that an immediate annuity might pay out a smaller number of dollars than the number paid in. But the numbers for these th...
by nisiprius
Sat Jul 26, 2014 9:36 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: Vanguard quietly adds longevity annuities

It probably turns out that it doesn't make any sense, and I'm too lazy to try to work it out, but I wonder how that compares with buying an immediate inflation-adjusted annuity, and, for twenty years, banking or conservatively investing all the monthly payments and "reinvesting" in fresh i...
by nisiprius
Sat Jul 26, 2014 8:42 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Vanguard quietly adds longevity annuities

Guaranteed income with a fixed annuity through Vanguard Annuity Access http://s27.postimg.org/7qpwgttub/Screen_Shot_2014_07_26_at_8_10_46_AM.png I wanted to find out about inflation adjustments, so I logged on through Income Solutions to poke around. (You need to have a Vanguard account and then, f...
by nisiprius
Sat Jul 26, 2014 8:30 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard quietly adds longevity annuities
Replies: 76
Views: 4757

Re: Make Income the Outcome

This is just a large-scale example of the problems people have comparing lump sums with steady payments. "A million dollars" just sounds better than "$70,000 a year for life," and much better than "$50,000 a year for life and we give a cost-of-living index each year." $...
by nisiprius
Sat Jul 26, 2014 7:36 am
 
Forum: Investing - Theory, News & General
Topic: Make Income the Outcome
Replies: 49
Views: 3708

Re: Afraid of Bonds

I...I'm fine with riding out a bond fund if interest rates rise, but my fear comes from the thought of a sizable stock market correction at the same time that interest rates are rising. I'd hate to rebalance out of some of my bonds a year or two from now to make up for a stock market correction. At...
by nisiprius
Sat Jul 26, 2014 7:05 am
 
Forum: Investing - Help with Personal Investments
Topic: Afraid of Bonds
Replies: 28
Views: 2181

Re: Public Speaking-help

Toastmasters, Toastmasters, Toastmasters. Find one and go. I don't know whether there is a good short-term answer but first of all, just meeting other people who struggle with public speaking will give you a lift, and while they won't have any magic answers they may have helpful suggestions.
by nisiprius
Sat Jul 26, 2014 6:15 am
 
Forum: Personal Consumer Issues
Topic: Public Speaking-help
Replies: 58
Views: 2397

Re: History books on the aftermath of financial crashes

longinvest wrote:I am currently reading The Great Depression, A Diary by Benjamin Roth. You can search the forum for more information about this book.
It is excellent, excellent, excellent. I would read it before reading any history.
by nisiprius
Fri Jul 25, 2014 9:13 pm
 
Forum: Investing - Theory, News & General
Topic: History books on the aftermath of financial crashes
Replies: 9
Views: 1088

Re: Make Income the Outcome

Be certain--use Merton.
Annuities, not fatuities.
Thinkum income, it's the dinkum.
Catchy phrasy make brain lazy.
by nisiprius
Fri Jul 25, 2014 9:11 pm
 
Forum: Investing - Theory, News & General
Topic: Make Income the Outcome
Replies: 49
Views: 3708

Re: Treasury Direct--just blowing off steam

My problem wasn't deleting OldBank. As you say, the form says you need to do that via the website, and I did.
by nisiprius
Fri Jul 25, 2014 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: Verizon Issue advice

...So, do I need to send a letter to the CEO? If you feel that you were badly treated, and that you deserve some money back, and you can express that clearly in a letter, my experience is that you probably have a decent chance of getting the money. It is less about the money than it is principal an...
by nisiprius
Fri Jul 25, 2014 4:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Verizon Issue advice
Replies: 16
Views: 1243

Re: Best way to reach initial allocation in a bull market?

My take is that if you can't go to your allocation right now because of fear of loss, you have misjudged your risk tolerance and have chosen the wrong allocation. Essentially, you feel that you have a high risk tolerance, but in reality, your risk tolerance is on high when you think the market is l...
by nisiprius
Fri Jul 25, 2014 3:47 pm
 
Forum: Investing - Theory, News & General
Topic: Best way to reach initial allocation in a bull market?
Replies: 19
Views: 1622

Re: Treasury Direct--just blowing off steam

KlingKlang wrote:For what its worth, the last time that I added a new bank account to my Treasury Direct account, I remember having to go into each individual bond and change the bank account for interest payments and bond final redemption.
Thanks for the tip.
by nisiprius
Fri Jul 25, 2014 3:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: Treasury Direct--just blowing off steam

Nisiprius, I think the TD employee made an honest mistake entering your new bank info. It will be fixed in due time. Best of luck to you. That's my guess. It's even possible that it takes a variable length of time to confirm each of the two bank accounts. And I'm not in any hurry which is why I opt...
by nisiprius
Fri Jul 25, 2014 3:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: If FF3 model is a true risk model, does it follow to buy

I wonder: why aren't there leveraged ETFs or mutual funds that allow investors to buy the actual factors, SmB, HmL, directly? You'd need both leverage and short positions, I think, but there are ETFs and mutual funds doing that now.
by nisiprius
Fri Jul 25, 2014 2:42 pm
 
Forum: Investing - Theory, News & General
Topic: If FF3 model is a true risk model, does it follow to buy SV?
Replies: 17
Views: 841

Re: i bonds or EE bonds?

...But the whole point of the previous post was that the yield to maturity on that EE bond is increasing over time. As such, it would be a little wasteful to cash in that EE bond come year 19 (let alone even year 2) just because your bank account interest rate climbs up to 3.53% Higher than that? I...
by nisiprius
Fri Jul 25, 2014 2:28 pm
 
Forum: Investing - Theory, News & General
Topic: i bonds or EE bonds?
Replies: 46
Views: 5803

Re: Treasury Direct--just blowing off steam

Needed to change the primary bank, downloaded and printed *&^% PD F 5512 form, no problem. This form allows you to add two banks--"Complete the following if you want to add another bank to your TreasuryDirect account." I entered two banks. The form has space for two banks, but only th...
by nisiprius
Fri Jul 25, 2014 2:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: POLL: Do you own corporate bonds?

"Only" in Total Bond, but really, the amount of corporates in Total Bond isn't negligible , it's like 1/4. "The only corporate bonds I hold are in Total Bond" is very different in degree from "the only REITs I hold are in Total Stock" or "the only BRICs I hold are ...
by nisiprius
Fri Jul 25, 2014 10:54 am
 
Forum: Investing - Theory, News & General
Topic: POLL: Do you own corporate bonds?
Replies: 35
Views: 1990

Re: How to interpret the bond news

I don't know what "ETF Daily News" is. I would not trust this source. The article is all interpretation. It is all mindreading. "The Purpose of Complacency Talk..." This source also has articles like "Two Hot ETFs Poised To Outperform In The Months Ahead" and "The ...
by nisiprius
Fri Jul 25, 2014 10:20 am
 
Forum: Investing - Help with Personal Investments
Topic: How to interpret the bond news
Replies: 5
Views: 612

Re: Treasury Direct--just blowing off steam

I lost all my TD account info. One day I will fill out a form, get the signature guarantee, send it in, and maybe see if my account has grown to millions and millions of dollars. But based on your account, my attempt to reconnect with them will probably fail. I've had perfectly OK telephone support...
by nisiprius
Fri Jul 25, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998

Re: Treasury Direct--just blowing off steam

P.S. More steam. I kept staring and staring at the form, saying "I should include the routing number for the bank I want added, but should I include the account number, too?" I kept staring at the "lock" icon and saying "OK, it's secure... the more information I give them, t...
by nisiprius
Fri Jul 25, 2014 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 3998
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