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Re: Newly Widowed, what to do with the life insurance money.

One bit of advice that I remember from when my wife died: don't make any big changes for a year (or at least six months). If you are already selling the house, then I hope your reasoning was solid and not emotional. Even if you miss some of a market rise while leaving your money in a savings account...
by sscritic
Wed Apr 16, 2014 9:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newly Widowed, what to do with the life insurance money....
Replies: 6
Views: 840

Re: "At Vanguard my voice is my password"

I don't call Vanguard, except when I make a mistake, and how often is that going to happen? :) There was a story on NPR today, and the person (inventor?) was talking about how it was great for multiple accounts. When the person answers the phone, you start talking and all your accounts pop up on the...
by sscritic
Wed Apr 16, 2014 9:40 pm
 
Forum: Personal Consumer Issues
Topic: "At Vanguard my voice is my password"
Replies: 11
Views: 592

Re: Why does Vanguard use average return iso compound annual

Don't forget how this thread started; it was a classic line that will go down in the history of the bogleheads. Vanguard states 1, 3, 5, 10 years and since inception average annual returns, but doesn't state compound annual/annualized returns. My question is: why? When you start with a false premise...
by sscritic
Wed Apr 16, 2014 6:43 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Why does Vanguard use average return iso compound annual

Here is another point of view: "Never invest in something you don't understand." If you don't understand how the SEC and mutual funds use the word average, you shouldn't invest. The prospectus is made just confusing enough so as to weed out those who have trouble reading. This helps restri...
by sscritic
Wed Apr 16, 2014 6:37 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Why does Vanguard use average return iso compound annual

[OT comment removed by admin LadyGeek] [Response to OT comment removed by admin LadyGeek] At some point, LadyGeek will lock the thread as having run its course and become too contentious, so the real goal from here on out is to get in the last word, aka, the last post before the lock. I have been l...
by sscritic
Wed Apr 16, 2014 6:24 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Let's compare 2013 effective tax rates

DSInvestor wrote:Effective tax rate = Gross Income / (total tax - self employment tax)

Or the multiplicative inverse. :)
by sscritic
Wed Apr 16, 2014 6:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 42
Views: 1575

Re: making your own will or trust

rec7 wrote:Can people just skip wills and trusts with POD's and TOD's?

Some states allow you to record a TOD Deed which will transfer your house at your death, but not that many as I understand it. Perhaps you can compile a list for us or use google to find such a list to share.
by sscritic
Wed Apr 16, 2014 5:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: making your own will or trust
Replies: 28
Views: 1246

Re: TIAA TPA rollover to Roth?

Levett wrote:Is there "news" I should be worried about?

Did Fidelity buy out TIAA? ;-)

Don't play games with us. We saw you in that other thread. :)
by sscritic
Wed Apr 16, 2014 5:22 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA TPA rollover to Roth?
Replies: 10
Views: 189

Re: making your own will or trust

"I bequeath my Vanguard mutual funds one-half to my wife and one-half to my kids by a previous marriage." PROBLEM: Let's assume you live in Texas, California, or another "community property" state. In a community property state, most assets acquired during marriage are considere...
by sscritic
Wed Apr 16, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: making your own will or trust
Replies: 28
Views: 1246

Re: TIAA TPA rollover to Roth?

Where is the Traditional? In a 403(b)? You can do a TPA from Traditional to the CREF Money Market in a 403(b), so the question is can you do a conversion to a Roth IRA from a 403(b), Traditional having nothing to do with the real question. Answers to questions such as are you still employed might ma...
by sscritic
Wed Apr 16, 2014 4:23 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA TPA rollover to Roth?
Replies: 10
Views: 189

Re: Why does Vanguard use average return iso compound annual

So let's look at a Vanguard Prospectus . I like Large Cap Index Average Annual Total Returns for Periods Ended December 31, 2012 SS, can you provide a link to where the words "average annual Total" is used by Vanguard. The SEC requires that exact wording in a prospectus, therefore Vanguar...
by sscritic
Wed Apr 16, 2014 4:11 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Tax Efficient "Gifting" for K-12 private school tuition

Point well taken. I think my intent was to see if there's anything she can do to reduce the estate tax on what she wants to give away. Clearly, she could withhold from the gift what she anticipates the tax bill to be, but I think she wants to maximize her donation. Thanks all for the other suggesti...
by sscritic
Wed Apr 16, 2014 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 12
Views: 452

Re: Let's compare 2013 effective tax rates

StarbuxInvestor wrote:Very confused how an effective rate could be higher than your bracket.

Self employment tax goes on your return. 25 + 13 = 38 (there are offsets).
by sscritic
Wed Apr 16, 2014 1:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 42
Views: 1575

Re: SS Strategy Metric

rkhusky wrote:Also, does/did anyone factor in that by delaying SS one could convert more tax-deferred savings to a Roth at lower rates?

People do, but I didn't. I didn't delay, but I also never saw the lower tax rates I was promised (a pension can do that to you).
by sscritic
Wed Apr 16, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Strategy Metric
Replies: 20
Views: 899

Re: Tax Efficient "Gifting" for K-12 private school tuition

My girlfriend wants to contribute funds she is about to receive from an inheritance for her niece and nephew's private (K-12) education. I understand that the U.S. system is set up to help pay for college tuition, but I could not find anything related to K-12. I know she can simply give a gift to h...
by sscritic
Wed Apr 16, 2014 1:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 12
Views: 452

Re: SS Strategy Metric

rkhusky wrote: But perhaps if the rate of return is high enough, one does not need SS as much.

I think that is true with your 8% real return, say when inflation is 4% and you are making 12%.
by sscritic
Wed Apr 16, 2014 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Strategy Metric
Replies: 20
Views: 899

Re: Why does Vanguard use average return iso compound annual

And that appears to be the crux of the matter: making up definitions or better yet, the SEC redefining and totally distorting a well-established definition. I've checked Merriam-Websters, New Collins and The SOD. In none of them was "average" defined exclusively as "arithmetic mean&q...
by sscritic
Wed Apr 16, 2014 1:44 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Let's compare 2013 effective tax rates

Although I'm not willing to post what they work out to, besides my effective tax rate, just out of curiosity and because I have the numbers in front of me at that moment I enjoy calculating the rate taking all income-based taxing entities into account on Federal AGI, on Federal Total Income (1040 l...
by sscritic
Wed Apr 16, 2014 1:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 42
Views: 1575

Re: Why does Vanguard use average return iso compound annual

Well, I just sent this via the SEC's "feedback" page . ... How do we bring this issue to the attention of someone who might take action? Maybe they could take everyone in the criminal enforcement division and send them out for English lessons. They don't seem to be doing anything anyway.
by sscritic
Wed Apr 16, 2014 12:33 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Let's compare 2013 effective tax rates

Isn't "effective rate" well-defined? What am I missing? http://www.investopedia.com/terms/e/effectivetaxrate.asp The average rate at which an individual or corporation is taxed. The effective tax rate for individuals is the average rate at which their earned income is taxed. I have no ear...
by sscritic
Wed Apr 16, 2014 12:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 42
Views: 1575

Re: Why does Vanguard use average return iso compound annual

I feel the need, as the OP, to jump in before getting a reply from Vanguard's Portfolio Review Group (BTW I seriously doubt that the Portfolio Review Group is the right department within Vanguard to respond to my request for clarification). This thread seems to have veered away from the real issue ...
by sscritic
Wed Apr 16, 2014 12:07 pm
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Let's compare 2013 effective tax rates

Rates result from division. Define your numerator. Define your denominator. Then let's talk.
by sscritic
Wed Apr 16, 2014 12:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 42
Views: 1575

Re: Individual bonds VS bond fund

While not focused on state specific vs national, the wiki has an article on funds vs bonds.

http://www.bogleheads.org/wiki/Bond_funds
by sscritic
Wed Apr 16, 2014 12:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Individual bonds VS bond fund
Replies: 5
Views: 346

Re: Computer Speakers

Does anyone have suggestions for speakers for the new computer I just bought? I'm don't think I want to pay more than $200, but I still want a nice sound. Thank you. For what purpose? I listen to music and watch Chinese soap operas on my computer, but I don't listen to podcasts or watch 3D IMAX mov...
by sscritic
Wed Apr 16, 2014 11:56 am
 
Forum: Personal Consumer Issues
Topic: Computer Speakers
Replies: 12
Views: 650

Re: Financial check-up request and unusual 403(b) question

If this thread isn't getting replies because I've violated some community standard or expectation, please let me know. I tried hard to post in accordance with the sample posts (including all my information). If it's not getting replies because of the complexity of the main question, I would still v...
by sscritic
Wed Apr 16, 2014 10:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Financial check-up request and unusual 403(b) question
Replies: 12
Views: 410

Re: Child's Roth

livesoft wrote:Yep, that's true and I didn't google anything either. Something's contagious around here.

And here I was hoping that googling and reading were contagious, but clearly I am wrong in so many ways.
by sscritic
Wed Apr 16, 2014 9:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Child's Roth
Replies: 27
Views: 1337

Re: When to terminate an irrevocable trust?

It would depend on the terms of the trust. Some trusts pay their own taxes when they file their 1041s. The trust can also distribute income within the terms of the trust, issue K-1s to the recipients, so that the recipients get the income and the responsibility for the taxes that go with it (and the...
by sscritic
Wed Apr 16, 2014 9:54 am
 
Forum: Personal Finance (Not Investing)
Topic: When to terminate an irrevocable trust?
Replies: 11
Views: 737

Re: Child's Roth

livesoft wrote:Thanks folks. I learned something without reading the IRS publications. :)

Only because someone else read them for you. :)
by sscritic
Wed Apr 16, 2014 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Child's Roth
Replies: 27
Views: 1337

Re: What is your net worth

Bustoff wrote:Everyone knows that the Bogleheads who have the highest number of posts have the highest net worth.

If only it were that easy. :)
by sscritic
Wed Apr 16, 2014 9:37 am
 
Forum: Investing - Theory, News & General
Topic: What is your net worth
Replies: 31
Views: 3579

Re: When to terminate an irrevocable trust?

I think bertilak has it, until the OP gives us more facts, e.g., the actual terms of the trust. An account title can say trustee of the XXX trust dated YYYY and be held at firm ZZZ. The trustee can open an account at firm WWW as trustee of the XXX trust dated YYYY. In most trusts,the trustee will ha...
by sscritic
Wed Apr 16, 2014 9:30 am
 
Forum: Personal Finance (Not Investing)
Topic: When to terminate an irrevocable trust?
Replies: 11
Views: 737

Re: Child's Roth

tovetove is incorrect if it is W2 compensation - you get to put in the entire contents of Box 1 less Box 11, or $5500 whichever is less. He is correct on 1099 compensation - the allowed contribution is compensation, less any business expenses, less 1/2 SE tax . This puts the SE person on equal foot...
by sscritic
Wed Apr 16, 2014 9:19 am
 
Forum: Investing - Help with Personal Investments
Topic: Child's Roth
Replies: 27
Views: 1337

Re: Why does Vanguard use average return iso compound annual

Here https://investor.vanguard.com/mutual-funds/vanguard-mutual-funds-list "Average annual returns" You left out the SEC regulation or a reference to the Code of Federal Regulations governing summary lists of mutual funds on a web page. I still can't find it. I think this may be a case of...
by sscritic
Wed Apr 16, 2014 9:12 am
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Why does Vanguard use average return iso compound annual

Where are people looking? The SEC instructions for a Prospectus are the instructions for a Form N-1A http://www.sec.gov/about/forms/formn-1a.pdf For a Fund (other than a money Market Fund or a Fund described in General Instruction C.3.(d)(iii)), provide the information in the following table with th...
by sscritic
Wed Apr 16, 2014 1:54 am
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 3990

Re: Child's Roth

I promised I wouldn't look again, but then see what happened? I am so ashamed of looking stuff up for other people. I really have to stop. Awwww! I hope you never stop! You are a boon to the instruction-impaired. Hey PJ, maybe we could start a 12 step program for the instruction-impaired. We could ...
by sscritic
Tue Apr 15, 2014 9:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Roth
Replies: 27
Views: 1337

Re: When to terminate an irrevocable trust?

You can go to court and try to get them terminated. Did your father-in-law have to die for the trusts to be created? If so, the correct court might be Probate Court. Where the trusts invest their money is a separate issue. If you are the trustee, do the trusts not give you the power to buy and sell ...
by sscritic
Tue Apr 15, 2014 9:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: When to terminate an irrevocable trust?
Replies: 11
Views: 737

Re: TIAA-CREF is buying Nuveen?

Holdings of TIAA-CREF (Insurance Commission of NY) B. Holding Company All of the outstanding stock of the Association is held by the TIAA Board of Overseers, a nonprofit corporation created solely for the purpose of holding the stock of the Association. The Association has direct ownership of 47 ope...
by sscritic
Tue Apr 15, 2014 9:13 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 2305

Re: TIAA-CREF is buying Nuveen?

Tax exempt and not-for-profit are different word combinations (see, I didn't use my usual different words). Here is a letter dated 1/7/2011 to Ben Bernanke from the Chief Legal Officer Incorporated as a stock life insurance company in the State of New York, we operate on a not-for-profit basis. P.S....
by sscritic
Tue Apr 15, 2014 8:02 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF is buying Nuveen?
Replies: 44
Views: 2305

Re: Converting i-bonds to electronic

Never did it, but the instructions are pretty clear: ⋅ Open a TreasuryDirect account, if you don't already have one. Simply complete our easy, online application to get started. ⋅ Once your TreasuryDirect account is set up, login, click "Manage Direct," then select &quo...
by sscritic
Tue Apr 15, 2014 7:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Converting i-bonds to electronic
Replies: 7
Views: 604

Re: Tax year 2013 IRA contribution deadline, April or Oct 15

Contributions must be made by due date. Contributions can be made to your traditional IRA for a year at any time during the year or by the due date for filing your return for that year, not including extensions . For most people, this means that contributions for 2013 must be made by April 15, 2014...
by sscritic
Tue Apr 15, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax year 2013 IRA contribution deadline, April or Oct 15th?
Replies: 4
Views: 178

Re: Child's Roth

Vanguard will not let you open the account online if the beneficiary is a minor. Has to be done "old school" by paper and snail mail. Which is easily confirmed by anyone not too lazy to read the Vanguard IRA application form. I did it before, so I won't do it again. One box is for if this...
by sscritic
Tue Apr 15, 2014 6:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Roth
Replies: 27
Views: 1337

Re: Lost $10K in my investments past few months

The question wasn't about vanguard, but how much you had in biotech. If 90% of your money was up 20% in the last year and the 10% you had in biotech dropped off the face of the planet, you would still have 0.9 x 1.2 + 0.1 x 0.0 = 1.08. In other words, you would be up 8% even if you lost every penny ...
by sscritic
Tue Apr 15, 2014 6:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lost $10K in my investments past few months
Replies: 36
Views: 4254

Re: Lost $10K in my investments past few months

There was a reason for the algebra, and it relates to the issue of risk tolerance. Rescaling my own recent losses to the $10k of the thread title, I don't worry about the loss of $10k in the last two weeks because I was up $20k in the first three months and am still up $10k for the year. I would hav...
by sscritic
Tue Apr 15, 2014 5:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lost $10K in my investments past few months
Replies: 36
Views: 4254

Re: IRA Contributions AFTER 70 1/2 years of age??

TIRA's authority for deduction is section 219, which states you're done contributing in the year you reach 70 1/2. But SEP and SIMPLE's deduction is under section 404, which doesn't say anything about having to exclude old people. In fact, SEP and SIMPLE must cover everyone eligible, unless the emp...
by sscritic
Tue Apr 15, 2014 5:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contributions AFTER 70 1/2 years of age??
Replies: 12
Views: 722

Re: Lost $10K in my investments past few months

The amount I am down for the month is almost exactly the same as the amount I am up for the year. Math quiz: how much was I up for the year on March 31? You were up for the year on March 31 "almost exactly the same as the amount you are down for the month [of April]." :) I thought a year ...
by sscritic
Tue Apr 15, 2014 1:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lost $10K in my investments past few months
Replies: 36
Views: 4254

Re: Lost $10K in my investments past few months

The amount I am down for the month is almost exactly the same as the amount I am up for the year. Math quiz: how much was I up for the year on March 31?
by sscritic
Tue Apr 15, 2014 1:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lost $10K in my investments past few months
Replies: 36
Views: 4254

Re: Children Savings Account [Money Received on Child's Beha

Money given to my child goes into a UTMA account with myself as custodian and child as minor. That money is intended for college (well, maybe, depends if the 529 plan will be fully funded come time) at least, that is what I will be saying from the near future to high school - it's not a let me go o...
by sscritic
Tue Apr 15, 2014 12:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Children Savings Account [Money Received on Child's Behalf]
Replies: 11
Views: 623

Re: Favorite Investing Book?

The Only Investment Guide You'll Ever Need, but that was the edition that was in my local library 10 years ago. [I am not counting books I have helped edit - of course those are my absolute most favorite of all time. The other books I only skimmed; my own contributions I actually read.] P.S. I just ...
by sscritic
Tue Apr 15, 2014 12:41 pm
 
Forum: Investing - Theory, News & General
Topic: Favorite Investing Book?
Replies: 42
Views: 3014

Re: Should I be using standard or itemized deduction?

I am assuming you are not a homeowner, so no mortgage interest or property tax. Did you own a car and pay a tax based on value as part of your registration fee? Did you give to charity? There are other deductions that you can only take if they exceed 2% of your AGI. Tax preparation is one of them. I...
by sscritic
Tue Apr 15, 2014 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I be using standard or itemized deduction?
Replies: 10
Views: 658

Re: Should I be using standard or itemized deduction?

Most tax software will choose the larger of the two for you. However, you should be able to force it to take the smaller, for example, if you are filing married separately and your separate spouse is itemizing, you have to also, even if itemized is smaller than standard. What does your Schedule A sh...
by sscritic
Tue Apr 15, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I be using standard or itemized deduction?
Replies: 10
Views: 658

Re: IRA Contributions AFTER 70 1/2 years of age??

Isn't anyone going to help the OP out on the real question?
401K/SEP-IRA

We have beaten the traditional IRA to death; it's time to move on (me, to my current soap).
by sscritic
Tue Apr 15, 2014 11:17 am
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contributions AFTER 70 1/2 years of age??
Replies: 12
Views: 722
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