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Re: Rollover of maturing CDs from bank to brokerage

As an additional clarifying note, using a Life Strategy fund is not a second-best option--it would be an upgrade. Most investors (possibly even on this board?) fail to outperform such a portfolio. This year I switched to using a TR fund in my 401K instead of my previous 4 fund option. I may ultimate...
by stlutz
Wed Sep 17, 2014 12:21 am
 
Forum: Investing - Help with Personal Investments
Topic: Rollover of maturing CDs from bank to brokerage
Replies: 9
Views: 520

Re: Rollover of maturing CDs from bank to brokerage

I have some serious work to do within my IRAs, given that I am 53 years old, am somewhat risk-averse yet would like a realistic likelihood of obtaining market-rate growth of my retirement assets. I've been trying to use the Paul Merriman portfolio recommendations, but maybe I can simplify things a ...
by stlutz
Wed Sep 17, 2014 12:17 am
 
Forum: Investing - Help with Personal Investments
Topic: Rollover of maturing CDs from bank to brokerage
Replies: 9
Views: 520

Re: advice on my credit card strategy ?

I don't see that any of the options you've listed are particulary advantageous. The Barclays Arrival Plus card with essentially 2.2% cash back and no foreign transaction fee is worth considering. This is a good site for card shopping:

http://www.nerdwallet.com/rewards-credit-cards
by stlutz
Tue Sep 16, 2014 10:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: advice on my credit card strategy ?
Replies: 6
Views: 766

Re: Inter Term Muni Bond Fund vs Indiv Muni Bonds

Where are these bonds held now? They have a market price. Just because the broker doesn't show an actual market price doesn't mean there isn't one. You can look up the market value using the price discovery tool at the EMMA website: http://emma.msrb.org/TradeData/PriceDiscovery Once you know the mar...
by stlutz
Tue Sep 16, 2014 10:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Inter Term Muni Bond Fund vs Indiv Muni Bonds
Replies: 3
Views: 347

Re: Merrill Edge free trades - is the service worth it?

Does anybody think that they won't eventually become like Wells Fargo and reduce/end free trades and jack up the fees for transferring out? I think we have yet to see a firm make "free trades" a successful long-term business plan. As a short-term home to pick up a transfer bonus, I'm sure ...
by stlutz
Tue Sep 16, 2014 9:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge free trades - is the service worth it?
Replies: 18
Views: 925

Re: Rollover of maturing CDs from bank to brokerage

In a separate thread, I may seek some guidance on our IRA and 401(k) holdings, but for now I'm dealing with a Traditional IRA transfer of $17,400 and a Roth IRA transfer of $7,220. I'm concerned that your threads are in the wrong order. You need to settle your overall strategy first (i.e. what is m...
by stlutz
Tue Sep 16, 2014 5:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Rollover of maturing CDs from bank to brokerage
Replies: 9
Views: 520

Re: VDE [for 5% "casino money"?]

Investing 5% in a sector like REITs or Energy is not "casino money". This is an example of what a "play money" portfolio looks like:

viewtopic.php?t=59261
by stlutz
Sat Sep 13, 2014 7:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: VDE [for 5% "casino money"?]
Replies: 11
Views: 917

Re: So far, so good? Vanguard Total International Bond

I am simply asking, why has the performance been different?


Interest rates have dropped quite a bit in other developed countries. For as much as we say there are low rates in the US, our rates are relatively high compared to other countries.
by stlutz
Sun Sep 07, 2014 4:08 pm
 
Forum: Investing - Theory, News & General
Topic: So far, so good? Vanguard Total International Bond
Replies: 44
Views: 3839

Re: Own individual stocks? Advisor recommends 20% in blue ch

Index investing is great for accumulating wealth; however, you are fully invested at all times. Years when the market is overpriced or declining, no adjustment is made in the allocation whereas professional managers will make adjustments to protect the portfolio. Asset allocation has proven to be i...
by stlutz
Sun Sep 07, 2014 4:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Own individual stocks? Advisor recommends 20% in blue chips?
Replies: 38
Views: 2645

Re: summary of two new papers on low volatility

if you don't believe it's statistically significant then the other factors explain the returns, you don't need volatility This makes no sense to me. If I can get very close to market returns and have significantly less volatility than the market overall, why should I care whether somebody claimed t...
by stlutz
Sat Sep 06, 2014 7:27 pm
 
Forum: Investing - Theory, News & General
Topic: summary of two new papers on low volatility
Replies: 15
Views: 1181

Re: between rebalancing, Stocks or bonds?

I would invest it in the one that will go up the most over the next 3 months.
by stlutz
Sat Sep 06, 2014 6:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: between rebalancing, Stocks or bonds?
Replies: 8
Views: 332

Re: Received dividend after transfer Roth from Scottrade to

Many years ago when I closed out a TD Waterhouse account, there was $.01 of interest that they ended up depositing the closed account. They mailed me paper statements for something like 3 years before they apparently closed the account out for real.

I never got my $.01.
by stlutz
Sat Sep 06, 2014 6:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Received dividend after transfer Roth from Scottrade to Vang
Replies: 6
Views: 365

Re: Budget breakers

Spending money on things that don't provide any happiness. I cringe when I hear of people over-economizing on vacations but dropping $10-$20/day on coffee/beer/wine.
by stlutz
Sat Sep 06, 2014 6:39 pm
 
Forum: Personal Consumer Issues
Topic: Budget breakers
Replies: 37
Views: 2762

Re: Why is REIT only sector fund recommended in slice & dice

As far as being a no growth business, look at a REIT like AVB... I was looking at REITs in aggregate. I agree that if you can select the best REITs ahead of time you'll do better, as some REITs will grow and others will shrink. Again, REITs have to distribute their income to shareholders. As such, ...
by stlutz
Sat Sep 06, 2014 2:33 pm
 
Forum: Investing - Theory, News & General
Topic: Why is REIT only sector fund recommended in slice & dice?
Replies: 113
Views: 7310

Re: Why is REIT only sector fund recommended in slice & dice

Why do you think the yield is expect return? That seems fundamentally wrong to me but I would love to know if I am missing something because ignoring growth (or lack of it) goes against everything I know about valuing companies. REITs have to distribute all of their profits, so there really isn't a...
by stlutz
Fri Sep 05, 2014 11:12 pm
 
Forum: Investing - Theory, News & General
Topic: Why is REIT only sector fund recommended in slice & dice?
Replies: 113
Views: 7310

Re: Offered Promotion, but longer commute

Since nobody has asked... Any reason you can't move?
by stlutz
Wed Sep 03, 2014 11:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Offered Promotion, but longer commute
Replies: 37
Views: 2959

Re: Best ROTH IRA Brokerage for 2014 onward?

Which brokerage you use is the one of the least important decisions you'll make.

This is a great place to start in terms of putting your plan together: http://www.bogleheads.org/wiki/Getting_started.
by stlutz
Wed Sep 03, 2014 10:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best ROTH IRA Brokerage for 2014 onward?
Replies: 6
Views: 283

Re: Why is REIT only sector fund recommended in slice & dice

A while back another poster put it well when he said, "Show me someone who tilts to REITs and I'll show you someone who has a read a couple of dated investment books." Years ago, REITs were not included in the S&P 500. And we all remember when an S&P index fund was the definition o...
by stlutz
Wed Sep 03, 2014 9:16 pm
 
Forum: Investing - Theory, News & General
Topic: Why is REIT only sector fund recommended in slice & dice?
Replies: 113
Views: 7310

Re: No advantage of Slice and Dice vs 3Fund?

I never quite follow the "tracking error regret" point as being some unique feature of a tilted portfolio. Isn't there always something that is doing better than whatever portfolio you have? I know I have regret that I just didn't go 100% Wellesley when I started investing with Vanguard. W...
by stlutz
Mon Sep 01, 2014 2:16 am
 
Forum: Investing - Theory, News & General
Topic: No advantage of Slice and Dice vs 3Fund?
Replies: 45
Views: 3421

Re: Financial Planners, DFA, and your opinions please!

I'm looking for a plan initially so that I can bring all the pieces together. That's why my initial search (and I forgot to include this, I'm sorry) was for the following: 1) Fee-only 2) CFP (and more certifications the better showing they are serious) 3) Experience 4) Ability to give me access to ...
by stlutz
Sat Aug 30, 2014 1:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Financial Planners, DFA, and your opinions please!
Replies: 28
Views: 1650

Re: Seeking wisdom and guidance

Looks like you are short on bonds versus your desired allocation (25% bonds). I would suggest the following as being a better starting point: --Your 401K: Use the VG 2030 fund, which is currently 24.2% bonds. --Your wife's 401K: T-Row 2025 fund, which is 27.7% bonds.* --Your IRA: Vanguard Life Strat...
by stlutz
Sat Aug 30, 2014 1:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking wisdom and guidance
Replies: 10
Views: 1004

Re: SCHC vs. SFILX

Schwab's ETF equivalent to SFILX would be FNDA.
by stlutz
Sat Aug 30, 2014 12:52 pm
 
Forum: Investing - Theory, News & General
Topic: SCHC vs. SFILX
Replies: 4
Views: 461

Re: Cellphone for trip to Ireland

I use Truphone paired with a cheap quad-band GSM phone that you can buy on Amazon. Use it myself when traveling and share it with family members who travel overseas as well.
by stlutz
Sat Aug 30, 2014 12:43 pm
 
Forum: Personal Consumer Issues
Topic: Cellphone for trip to Ireland
Replies: 11
Views: 867

Re: Financial Planners, DFA, and your opinions please!

Are you looking for a financial planner or an investment advisor? The former will help you with goal setting, determining how much those goals will cost, how much you need to save to accomplish said goals, how much risk is appropriate to take in your situation etc. This should be thought of as more ...
by stlutz
Sat Aug 30, 2014 12:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Financial Planners, DFA, and your opinions please!
Replies: 28
Views: 1650

Re: Targeted Intermediate Treasury Funds vs Market-cap Weigh

The problem with Treasuries with under 3 years or so to maturity is that they yield less than an online savings account. So why bother. With long-term treasuries, there are institutions with lots of money (i.e. insurance companies, pension funds) for whom they are close to a risk-free asset because ...
by stlutz
Sat Aug 30, 2014 12:21 pm
 
Forum: Investing - Theory, News & General
Topic: Targeted Intermediate Treasury Funds vs Market-cap Weighing?
Replies: 2
Views: 351

Re: Help with Risky Allocation for 33 year-old

1. Is 93% equity / 7% fixed income reasonable ... 3. What strategy would you recommend for an expected home purchase in the next 5 years... 4. After maxing other tax-advantaged accounts, where would you rank contributions to infant's 529 college savings plan... So, you have a major money goal in 5 ...
by stlutz
Sun Aug 17, 2014 10:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Risky Allocation for 33 year-old
Replies: 13
Views: 1488

Re: 3 Fund Portfolio at Schwab?

Can you use VXUS? For the lump sum I would put it in that, then put any new contributions in the Schwab fund. When you get enough in the fund to make another purchase of VXUS worthwhile (i.e. the commission is insignificant), then do so.
by stlutz
Fri Aug 15, 2014 4:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: 3 Fund Portfolio at Schwab?
Replies: 29
Views: 2212

Re: Why would a passive investor use ETFs?

and there is room for some user error when making the transaction The one time I made a transaction mistake was actually with mutual funds. I exchanged into Intermediate Term Bond Index when I meant to do Intermediate Term Tax Exempt. ETFs with their 3 or 4 character ticker symbols make it less lik...
by stlutz
Fri Aug 15, 2014 3:21 pm
 
Forum: Investing - Theory, News & General
Topic: Why would a passive investor use ETFs?
Replies: 60
Views: 3775

Re: BlackRock MSCI ACWI ex-U.S. Index Non-Lendable Fund M

The "net dividend" part indicates that the index returns are reported net of foreign taxes (which is what the fund returns will be as well). That has no impact on the # of stocks held. Back to your original question, this is a fine choice for an international holding--it's not just as &quo...
by stlutz
Thu Aug 14, 2014 1:19 am
 
Forum: Investing - Help with Personal Investments
Topic: BlackRock MSCI ACWI ex-U.S. Index Non-Lendable Fund M
Replies: 3
Views: 361

Re: BlackRock MSCI ACWI ex-U.S. Index Non-Lendable Fund M

Details on this index:

https://www.msci.com/resources/factshee ... sd-net.pdf

It is more comparable to the other Vanguard International fund (FTSE All World ex-US) in that is does not include smallcaps.
by stlutz
Thu Aug 14, 2014 12:00 am
 
Forum: Investing - Help with Personal Investments
Topic: BlackRock MSCI ACWI ex-U.S. Index Non-Lendable Fund M
Replies: 3
Views: 361

Re: Vanguard Target Date Fund 2025

If you are looking for a constant allocation then the Life Strategy funds might be worth looking at.
by stlutz
Wed Aug 13, 2014 11:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Target Date Fund 2025
Replies: 7
Views: 663

Re: Endowments: Paying for complexity or performance?

Given that the total size of the Balanced Index fund is only $23 billion, I doubt that the transaction would go through without a hitch. Even if it did, and the next day Balanced Index showed up with assets of $55 billion, if Harvard then decided to redeem $32 billion... There actually was a recent...
by stlutz
Sun Aug 10, 2014 11:37 am
 
Forum: Investing - Theory, News & General
Topic: Endowments: Paying for complexity or performance?
Replies: 14
Views: 1089

Re: High Yield Bonds - Uncorrelated to Stocks and Bonds?

when the spreads on HY are high, it's the same time that the ERP and size and value premiums are high


And that's why I'm not really impressed with the value effect--it's really just loading on high yield. :twisted: :P
by stlutz
Sun Aug 10, 2014 11:26 am
 
Forum: Investing - Theory, News & General
Topic: High Yield Bonds - Uncorrelated to Stocks and Bonds?
Replies: 73
Views: 4920

Re: Post interleaving

Make good use of the Preview function to make sure the quoting is accurate.


I suppose it would also help with finding statements like these:

... quotes are only needed to the extent that they identify are point you are responding to.


:oops:
by stlutz
Sun Aug 10, 2014 11:13 am
 
Forum: Forum Issues and Administration
Topic: Post interleaving
Replies: 33
Views: 1714

Re: Just lost 3% Metlife Stable Value Fund - now what?

Does it need to be cash (i.e. it represents an emergency fund of sorts) or were you just counting it as cash? If it really truly needs to be cash, then a savings account is your best bet. Otherwise, don't overthink it and just incorporate it into your overall asset allocation. Any of the options you...
by stlutz
Sun Aug 10, 2014 10:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Just lost 3% Metlife Stable Value Fund - now what?
Replies: 4
Views: 704

Re: Partial transfer from Ameritrade to Vanguard

Two problems: a) That would be a wash sale and the loss would be disallowed. b) Because it would be a cross-custodian wash sale, Vanguard/TD will not correctly track or report the wash sale to you or the IRS, so you'll have to track that and report it correctly to the IRS (including decades down the...
by stlutz
Sun Aug 10, 2014 10:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Partial transfer from Ameritrade to Vanguard
Replies: 8
Views: 559

Re: Post interleaving

Personally, when reading threads I prefer less quoted material to more. Assume I read what came before. When I'm reading your post, quotes are only needed to the extent that they identify are point you are responding to. For example, Larry Swedroe almost never quotes, but it's always clear whose que...
by stlutz
Sat Aug 09, 2014 11:46 pm
 
Forum: Forum Issues and Administration
Topic: Post interleaving
Replies: 33
Views: 1714

Re: Carry on Luggage Restrictions

I'm flying from Portland (Oregon) to Sacramento during the Thanksgiving holiday. I'll probably fly Southwest.


Two bags are checked free on SW, so just check your large bag and make sure no prohibited items are in your carry-on and life is easy.
by stlutz
Sat Aug 09, 2014 10:49 pm
 
Forum: Personal Consumer Issues
Topic: Carry on Luggage Restrictions
Replies: 24
Views: 1659

Re: What are you doing re charitable giving (money, not time

We recently discovered that two local organizations, to whom we've made significant (for us) contributions, have in our opinion made some unwise choices in how they used the money they've been given. In part this is why I give to organizations that I know will spend the money now as opposed to buil...
by stlutz
Sat Aug 09, 2014 6:14 pm
 
Forum: Personal Consumer Issues
Topic: What are you doing re charitable giving (money, not time)
Replies: 26
Views: 1587

Re: 3.3% Vanguard 10 year CD

I think the "warning, warning, danger, danger!" sentiment in this thread is maybe a bit overdone. An intermediate term bond fund like most of us prefer (e.g. with a duration just under 5) would be the same as a rolling 10-year bond ladder. For the OP, your question really is whether you ar...
by stlutz
Sat Aug 09, 2014 6:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: 3.3% Vanguard 10 year CD
Replies: 99
Views: 9981

Re: Tell Vanguard they need 2 factor authentication

I would argue that Vanguard has the option for better security than any other firm I deal with. The big security loophole is always what you can do via a phone call to support. Suppose I lose my key fob/my phone breaks/I forgot my username etc. I call Vanguard/Fidelity/Schwab and tell them so. Will ...
by stlutz
Sat Aug 09, 2014 2:43 am
 
Forum: Personal Consumer Issues
Topic: Tell Vanguard they need 2 factor authentication
Replies: 52
Views: 2427

Re: High Yield Bonds - Uncorrelated to Stocks and Bonds?

I'll qualify my next comment by noting that I'm part of the "safe bonds are best" crowd. However, discussions on "risky" bonds do show a lot of recency bias around here. We had two major, yet short-lived bear markets in 10 years. Both were cases where Treasury bonds were gold. Th...
by stlutz
Fri Aug 08, 2014 12:53 am
 
Forum: Investing - Theory, News & General
Topic: High Yield Bonds - Uncorrelated to Stocks and Bonds?
Replies: 73
Views: 4920

Re: Why should a portfolio get safer as one ages?

I'm one who leans toward having a more constant allocation over time--the Life Strategy approach over the Target Retirement approach. A few reasons: 1) There is no such thing as the one correct asset allocation for someone. As such, the goal is usually not to be wrong. If you randomly pick out 100 p...
by stlutz
Tue Aug 05, 2014 10:56 pm
 
Forum: Investing - Theory, News & General
Topic: Why should a portfolio get safer as one ages?
Replies: 30
Views: 2850

Re: Why should a portfolio get safer as one ages?

I have the impression that the investment industry likes to sell stocks and hates to see anyone reduce their equity allocation, ever. Are you claiming that the investment industry makes a ton of money off stocks and no money off bonds? Actually, I think it probably closer to the opposite--bonds are...
by stlutz
Tue Aug 05, 2014 10:41 pm
 
Forum: Investing - Theory, News & General
Topic: Why should a portfolio get safer as one ages?
Replies: 30
Views: 2850

Re: Target Date Fund vs. 60/40 Allocation

+1 on keeping what you have.

Does your 401K offer automatic rebalancing? My megacorp's will do it for you automatically each quarter and so it becomes the same amount of work as a balanced fund.

Otherwise, just plan to rebalance your 401K every year or two.
by stlutz
Tue Aug 05, 2014 10:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Target Date Fund vs. 60/40 Allocation
Replies: 9
Views: 1219

Re: Alliant Credit Union 48 mo CD/2.1%

One of the things ACU has going for it w.r.t. CDs is this: Do Certificates automatically renew at maturity? You have two renewal options when you open a Share or IRA Certificate: Automatic renewal to a certificate of the same type and term Transfer the funds into a share account or back to your IRA ...
by stlutz
Tue Aug 05, 2014 10:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Alliant Credit Union 48 mo CD/2.1%
Replies: 2
Views: 362

Re: Arnott's/RAFI 10 year 'expected' returns

But I definitely agree with your general point. Looking at back-filled indexes can give investors unreasonable expectations. My own approach is to cut historic premiums in half for the purposes of planning and portfolio construction. This leaves enough margin for error that, hopefully, small improv...
by stlutz
Tue Aug 05, 2014 10:24 pm
 
Forum: Investing - Theory, News & General
Topic: Arnott's/RAFI 10 year 'expected' returns
Replies: 78
Views: 4837

Re: Arnott's/RAFI 10 year 'expected' returns

This is one of the most insightful posts I've read on Bogleheads. You've convinced me that assigning numerical values to expected risks and returns almost always gives the misleading impression that finance more precise than it really is. Take Bernstein's expected returns chart for example. What he...
by stlutz
Tue Aug 05, 2014 2:44 am
 
Forum: Investing - Theory, News & General
Topic: Arnott's/RAFI 10 year 'expected' returns
Replies: 78
Views: 4837

Re: Arnott's/RAFI 10 year 'expected' returns

The Houge et al use of average annual returns instead of annualized returns is ridiculous. It's basically a way of counting uncompensated volatility as performance. That's a good point—I hadn't noticed that before. So, if I use the data from Table 3 in the paper and calculate a CAGR, I get 9.6% for...
by stlutz
Tue Aug 05, 2014 2:37 am
 
Forum: Investing - Theory, News & General
Topic: Arnott's/RAFI 10 year 'expected' returns
Replies: 78
Views: 4837

Re: REITS-worth the time to add 10% into portfolio

REITs are about 3-4% of the total US market (which you already have). What makes REITs so special that you would overweight them over Materials or Utilities (which are a similarly small part of the market)?
by stlutz
Tue Aug 05, 2014 12:32 am
 
Forum: Investing - Help with Personal Investments
Topic: REITS-worth the time to add 10% into portfolio
Replies: 33
Views: 2714
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