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Re: Advice sought for $6M investment

If I were you I would quit working tax problems solved. Actually, if you can tolerate or enjoy your work, working allows you to do things not normally available for tax planning purposes. There are special 401k withdraw rules for leaving your company only at age 55, Roth and IRA contribution and ro...
by wshang
Mon Oct 20, 2014 7:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice sought for $6M investment
Replies: 36
Views: 3555

Re: Advice sought for $6M investment

Second record keeping is a PITA. Third managing bond calls and maturations is a PITA. Finally if you have to sell before maturity, they'll nick you or worse. Even if you are as wealthy as you are, I'd stick to low cost muni index funds (and I have!). While whether you regard it as a PITA depends up...
by wshang
Mon Oct 20, 2014 2:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice sought for $6M investment
Replies: 36
Views: 3555

Re: Advice sought for $6M investment

My situation bears similarities to yours. You are wealthy enough to own an individual muni bond portfolio. While I won't go into the benefits in detail, there are major benefits to having tax loss harvesting with individual munis, especially zeros. I would buy as many I-bonds as possible each year, ...
by wshang
Sun Oct 19, 2014 10:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice sought for $6M investment
Replies: 36
Views: 3555

Re: Why not 100% Stocks?

Teleradiology from third world nations? That's pretty absurd when considering the regulations involved in practicing medicine. Ha, ha. That's just the thing. Regulations are based upon sentiment, politics and influence. Wait till "they" figure out changing regulations increases competitio...
by wshang
Sun Oct 19, 2014 10:37 am
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 20194

Re: Why not 100% Stocks?

To me, this is a false dichotomy. I have a individual bond portfolio which in certain years outperformed stocks. I have options which have outperformed stocks over certain intervals. I also plan to buy annuities which might outperform stocks -given the right circumstance. One might easily find thems...
by wshang
Sat Oct 18, 2014 11:16 pm
 
Forum: Investing - Theory, News & General
Topic: Why not 100% Stocks?
Replies: 274
Views: 20194

Re: The Power of Zero: Controversial New Book About Taxes

There are a couple of details the OP should pay attention if 401k or tIRA is large: 1) Attempt to leave a job where the 401k resides at age 55 to take an distribution. Consider a Essentially Equal 401(k) Distributions before age 59.5. 2) Convert as much in the 15% bracket before age 70 to Roth 3) Tr...
by wshang
Sat Aug 30, 2014 11:16 pm
 
Forum: Investing - Theory, News & General
Topic: The Power of Zero: [Book and tax planning for retirement]
Replies: 52
Views: 5485

Re: Renting forever: financial suicide?

On this forum there is little respect for purchasing gold or other nonproductive assets. Compare this greater-fool type of asset to home ownership. If it weren't for the government's, post Depression era standard 30 year mortgage and the constant drum beat of "American dream" propaganda, a...
by wshang
Sun Aug 24, 2014 11:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renting forever: financial suicide?
Replies: 92
Views: 11304

Re: using the 15% tax bracket

RustyShackleford wrote:I still don't see how "it is possible to do better than the best performing of these categories".

Easy to explain. The Callan Periodic Table does not have gold or long-term Treasuries which outperformed the categories listed for some of the years followed.
by wshang
Sun Aug 24, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: using the 15% tax bracket
Replies: 42
Views: 4582

Re: using the 15% tax bracket

Pocket Cruiser wrote:
wshang wrote:Although I've brought up a variation of your Roth conversion strategy on this forum before, no one ever seems to get excited .

Would you elaborate on this please?

viewtopic.php?f=2&t=120771&hilit=+roth
by wshang
Sat Aug 23, 2014 8:51 am
 
Forum: Personal Finance (Not Investing)
Topic: using the 15% tax bracket
Replies: 42
Views: 4582

Re: using the 15% tax bracket

Although I've brought up a variation of your Roth conversion strategy on this forum before, no one ever seems to get excited as I do. Take a look at the Callan Periodic Table and you can see that by splitting further and by filing an filing extension, you can easily get 40%+ on one of the converted ...
by wshang
Fri Aug 22, 2014 10:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: using the 15% tax bracket
Replies: 42
Views: 4582

Re: portfolio turnover

To carry the OP's question further, since turnover costs such as commission are not reflected in the expense ratio, isn't at some point advantage accruing to an investor with a laddered, diversified individual bond portfolio? I seem to remember Larry advocating a high quality bond holding over a bon...
by wshang
Fri Aug 22, 2014 10:16 pm
 
Forum: Investing - Theory, News & General
Topic: portfolio turnover
Replies: 9
Views: 975

Re: Why would a passive investor use ETFs?

My understanding is that the only option strategy available in a tax favored account like a 401(k) or IRA is covered call writing. Any puts or naked calls have to be in your taxable account. Ralph Hmmm. Perhaps if this interests you, check out other brokerages. TD allows me to do this in my 401(k) ...
by wshang
Fri Aug 15, 2014 8:54 pm
 
Forum: Investing - Theory, News & General
Topic: Why would a passive investor use ETFs?
Replies: 60
Views: 3868

Re: Why would a passive investor use ETFs?

Well let me say at the outset, I am not here to convince you this is a good strategy. In fact, I hope this is an obscure enough forum and most people don't bother to learn options well and mess with my golden goose. :oops: wshang: that's kind of what I thought when I said "just an illusion"...
by wshang
Fri Aug 15, 2014 5:20 pm
 
Forum: Investing - Theory, News & General
Topic: Why would a passive investor use ETFs?
Replies: 60
Views: 3868

Re: Why would a passive investor use ETFs?

You can purchase ETF's at a discount by selling the put options naked (cash secured). (repeat until exercised) I don't fully understand this. Are you sure it's not an illusion? You could end up paying a higher price days or weeks later than the person who was willing to buy at market price. There a...
by wshang
Fri Aug 15, 2014 1:51 pm
 
Forum: Investing - Theory, News & General
Topic: Why would a passive investor use ETFs?
Replies: 60
Views: 3868

Re: Can a single investor influence the market?

It is actually too easy to do. Some closed end funds have a thinly traded to almost no regular daily trading volume. If you happen to be selling into, or buying, take a look at the Level II quotes. You will be moving the market (to your own detriment). Yet another reason to be mostly in a large, hig...
by wshang
Thu Aug 14, 2014 10:43 pm
 
Forum: Investing - Theory, News & General
Topic: Can a single investor influence the market?
Replies: 20
Views: 1755

Re: Why would a passive investor use ETFs?

You can purchase ETF's at a discount by selling the put options naked (cash secured). (repeat until exercised) Another advantage is setting the purchase by limit orders. It is very difficult in practice to set an automatic purchase at a lower than present day price with mutual funds. This extends to...
by wshang
Thu Aug 14, 2014 10:30 pm
 
Forum: Investing - Theory, News & General
Topic: Why would a passive investor use ETFs?
Replies: 60
Views: 3868

Re: Cheap Carnival Cruises

This just might be a time to break the BH rule on buying individual stock. If you purchase 100 shares of Carnival Cruise (CCL) or Royal Caribbean (RCL) can receive up to $250 in onboard credits. We bought our two weeks prior to departure, it entitles you to these credits each time thereafter. Carniv...
by wshang
Sat Aug 02, 2014 11:16 pm
 
Forum: Personal Consumer Issues
Topic: Cheap Carnival Cruises
Replies: 21
Views: 2907

Re: [Deferred] Annuity Purchase Excluded from RMD Calculatio

Time to resurrect this discussion, since now it is a actionable reality. http://www.kitces.com/blog/why-the-new-qualifying-longevity-annuity-contract-qlac-rmd-regulations-for-dont-mean-much-for-retirement-income-yet/ To be eligible as a QLAC, a longevity annuity must meet the following requirements:...
by wshang
Wed Jul 23, 2014 7:20 pm
 
Forum: Investing - Theory, News & General
Topic: [Deferred] Annuity Purchase Excluded from RMD Calculation
Replies: 17
Views: 1046

Re: Costa Rica

I've been to many places in Costa Rica. It's so diverse a country that you need to tell us a little bit more about your preferences before anyone can have an reasonable answer. :annoyed :wink:
by wshang
Wed Jul 16, 2014 3:56 am
 
Forum: Personal Consumer Issues
Topic: Costa Rica
Replies: 11
Views: 1803

Re: I think I might have too much saved in a 401k

viewtopic.php?f=2&t=120771

Take a look here if considering another angle. I have yet another idea which if you are interested, please pm me.
by wshang
Sun Jul 06, 2014 4:03 am
 
Forum: Investing - Help with Personal Investments
Topic: I think I might have too much saved in a 401k
Replies: 40
Views: 4248

Re: Getting a chunk of money, where should I put it?

While not knowing your asset allocation, you might want to consider buying as many I-bonds as possible.
by wshang
Fri Jul 04, 2014 1:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Getting a chunk of money, where should I put it?
Replies: 14
Views: 1969

Re: The Risk of Short-term Bond Funds

This strategy has backfired as the opportunity cost of not being in intermediate-term bonds has been more costly than whatever damage rising interest rates might have taken away.[/url] Rick Ferri A common mistake is to confuse outcome with strategy. Ask Mr. Ferri about the future price of gold and ...
by wshang
Thu Jul 03, 2014 3:44 am
 
Forum: Investing - Theory, News & General
Topic: The Risk of Short-term Bond Funds
Replies: 152
Views: 11491

Re: Who do you talk with about your financial goals?

This thread reminds me of when I hit my financial goal and was able to retire early. There were not too many people with whom to celebrate this milestone other than my DW and a very close friend. To this day, I
'm still not sure whether my former colleagues were jealous or just didn't care.
by wshang
Wed Jul 02, 2014 3:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Who do you talk with about your financial goals?
Replies: 158
Views: 9483

Re: How do you afford to travel?

One thing not yet mention is going where the dollar is strong. I figure that overall there will be a rotation of countries with weak currency. Eventually, maybe even the Euro will weaken significantly more and we'll go on holiday there extensively.
by wshang
Sat Jun 28, 2014 2:42 am
 
Forum: Personal Consumer Issues
Topic: How do you afford to travel?
Replies: 68
Views: 6578

Re: It is time to retire when you .......

Before the Affordable Care Act, my answer was, "as soon as my spouse and I are both 63.5 years old and 18 months of COBRA will get us to Medicare", since buying private health insurance for someone in their late 50 or 60 was so difficult. Sorry to side track this post. How does Affordable...
by wshang
Sun Jun 22, 2014 10:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: It is time to retire when you .......
Replies: 104
Views: 10048

Re: I cannot make the jump and retire

. . . maybe you will decide to come back to your current job or something similar For the non-physicians, just a point of clarification. It is very difficult to "come back" to the same job for physicians. The board recertification requirements are uniformly becoming more frequent and rigo...
by wshang
Thu Jun 19, 2014 10:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: I cannot make the jump and retire
Replies: 73
Views: 8325

Re: Buying a new mattress and bedding

Mattress shopping is one of the most frustrating experiences you can have Several years ago the FTC or some such body announced they were going to investigate the anti-competitive practices of the mattress industry I got to thinking about exactly this the other day. People in poorer countries sleep...
by wshang
Sun Jun 15, 2014 11:35 pm
 
Forum: Personal Consumer Issues
Topic: Buying a new mattress and bedding
Replies: 38
Views: 3306

Re: I cannot make the jump and retire

Just got back from visiting one of my residency buds. After I retired last year, we got together with him and his wife. That got them thinking and the two physicians, pathologist and radiologist are recently retired. (When asked, they reply, "We retired young, still young enough to enjoy life.&...
by wshang
Sun Jun 15, 2014 11:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: I cannot make the jump and retire
Replies: 73
Views: 8325

Re: If chasing market performance is bad...

Personally, I think the OP is on to something. The problem is that other than tilting, it is foolhardy to put enough in to move the overall needle. I (successfully) play contrarian with small percentages of my portfolio and would invite others who look for the bleeding, "toxic" areas of th...
by wshang
Thu Jun 12, 2014 11:20 pm
 
Forum: Investing - Theory, News & General
Topic: If chasing market performance is bad...
Replies: 85
Views: 4965

Re: Pursuing your calling in life at what cost?

The sixty years referred to is simply the OP's remaining lifespan. BH's often speak of portfolio durability in mathematical terms. Our friend is contemplating a life voyage which should be viewed in a worst case "all comers" perspective for planning purposes. Pick any period of time and fo...
by wshang
Thu May 29, 2014 8:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Pursuing your calling in life at what cost?
Replies: 58
Views: 4677

Re: Pursuing your calling in life at what cost?

To be the devil's advocate, 60 years is a long time. Geopolitical risk is something you should consider. We are living in unprecedented peaceful times. Your post follows pay period of unusual stockmarket recovery. Would you feel the same way if you lost 50% of your portfolio over the next six months...
by wshang
Wed May 28, 2014 11:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pursuing your calling in life at what cost?
Replies: 58
Views: 4677

Re: Options Trading: shooting down the "iron condor"

You are asking the question on the WRONG forum. I have traded options for over twenty years and it is not something you dabble nor know a little about. Like any tool in the financial tool box, it has its place. If you are interested, spend a good chunk of time studying. I've worked through this: htt...
by wshang
Tue May 06, 2014 11:02 pm
 
Forum: Investing - Theory, News & General
Topic: Options Trading: shooting down the "iron condor"
Replies: 19
Views: 2029

Re: New York municipal bonds for limited-term investment

Take a look at BLH. It is a target term 2018 muni fund limited to NYC, with about 23% leverage. At the time of this writing, you can buy this at a slight discount with the anticipation of receiving $15/share in 2018. I have bought these in the past and it has turned out pretty good given the way the...
by wshang
Mon May 05, 2014 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: New York municipal bonds for limited-term investment
Replies: 10
Views: 646

Re: Can my computer hear me?

Now that article is just paranoia, really. One might as well wear a tinfoil hat. Once again, we're talking about a very expensive way to monitor what is usually a very boring image and dialogue. As opposed to those juicy, easily searchable emails, texts and phone location data. Yes, yes, I agree, I...
by wshang
Fri Apr 25, 2014 2:42 pm
 
Forum: Personal Consumer Issues
Topic: Can my computer hear me?
Replies: 54
Views: 9963

Re: Can my computer hear me?

Very surprised by the answers proffered. Isn't this old news? If the heartbleed virus has taught us anything, it is "if anything that can be exploited, it will be." http://www.dailymail.co.uk/news/article-1393117/Thief-caught-Hidden-app-victim-remotely-controls-MacBook.html Burglary victim...
by wshang
Thu Apr 24, 2014 11:37 pm
 
Forum: Personal Consumer Issues
Topic: Can my computer hear me?
Replies: 54
Views: 9963

Re: Total bond vs intermediate tax exempt

To the OP, Up until I retired, I was in your tax bracket and had (still have) a large muni bond portfolio. In retrospect, I realize this might have been a mistake if for only this reason: Bonds in general tend to have less volatility and less capital gains than stocks. Of course recent memory has be...
by wshang
Mon Apr 21, 2014 11:05 pm
 
Forum: Investing - Theory, News & General
Topic: Total bond vs intermediate tax exempt
Replies: 12
Views: 1809

Re: A story, and a feeling of financial under-accomplishment

Congratulations on getting yourself upright and moving in the right direction. Let me use the highway analogy. We often find ourselves driving on these interstates. Some people seem to be passing us, maybe driving more expensive cars, while others are miles behind us. Who's ahead? That's the wrong q...
by wshang
Thu Apr 10, 2014 10:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 7787

Re: Partials vs implants

If money is a concern, implants plus crowns can be had in Costa Rica typically for $900-$1000 per tooth. There are reputable oral surgeons/dentist who do just this for dental tourists. PM me if you are interested as I just got back and am satisfied with the quality.
by wshang
Thu Apr 10, 2014 10:30 pm
 
Forum: Personal Consumer Issues
Topic: Partials vs implants
Replies: 29
Views: 3248

Re: Slomo

My son had sent me this earlier. This guy got out of the medical rat race. Too many of my former colleagues are unhappy, moments intermittently relieved by the BMW/Mercedes or the McMansion. "Free, free, free at last." [edited after rewatching video]
by wshang
Sun Apr 06, 2014 8:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Slomo (PHYSICIAN)
Replies: 4
Views: 960

Re: WSJ article: Ready or Not, Your Kids Own the Money

sscritic, when you taught your children/ grandchildren how to ride a bicycle, did you use training wheels or did you put them on a full sized bike and shove them off at 15 mph with no training wheels? Although the tone is a little facetious, sending kids down a slope and without training wheels is ...
by wshang
Fri Apr 04, 2014 11:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: WSJ article: Ready or Not, Your Kids Own the Money
Replies: 25
Views: 4238

Re: Strategy: multiple index funds in each Roth - recharacte

In January 2014 I also establish four new Roth accounts, preferable at four different institutions, and fund each of them with $100,000 from an existing pre-tax IRA. I'm am not a tax expert, and have often gotten things wrong, but having studied this and specifically asked TdAmeritrade and Vanguard...
by wshang
Fri Apr 04, 2014 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Strategy: multiple index funds in each Roth - recharacterize
Replies: 11
Views: 1037

Re: Great Finance History Book

Having almost finished it, I have to agree with the glowing reviews. Can someone help out the names? In other words, I the names have been changed to protect the innocent, but it would be very helpful to know who the characters and companies correspond historically. Thanks in advance!
by wshang
Fri Apr 04, 2014 9:55 pm
 
Forum: Investing - Theory, News & General
Topic: Great Finance History Book
Replies: 33
Views: 4287

Re: early retirement..... any program to roth conversion??

I might suggest that you read this book by Jim Lang. He has done considerable and detailed explanation of your options.

http://paytaxeslater.com

Even his e-book is free.
by wshang
Thu Mar 27, 2014 1:43 am
 
Forum: Investing - Theory, News & General
Topic: early retirement..... any program to roth conversion??
Replies: 20
Views: 1407

Re: Options for the medical grad but no residency

While I suspect there may be negative factors at work, why not focus on the nexus where ones ability and interest meet. Che Guevara - revolutionary, Michael Crichton/Anton Chekhov - fiction writer, Deepak Chopra (whatever he does, it doesn't rely on his MD degree), Ken Jeong - actor, Bill Frist - Se...
by wshang
Sat Mar 22, 2014 8:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Options for the medical grad but no residency
Replies: 98
Views: 9201

Re: Strategy: multiple index funds in each Roth - recharacte

After some more thought, it occurred to me that the Callan Periodic Table would be a good starting point for choosing a short, but generally balanced portfolio for conversion: http://www.callan.com/research/periodic/ Looking at the seven highest performing elements: EEM, AGG, IVW, IWN, IWO, VEU, HYG...
by wshang
Thu Mar 20, 2014 9:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Strategy: multiple index funds in each Roth - recharacterize
Replies: 11
Views: 1037

Re: Are people really selling at the bottom of the market ?

There are interesting aspect of your question: 1) Some people are more knowledgeable that others. Those who posses superior knowledge can more accurately sense or gauge the intrinsic value. Warren Buffett has famously said he will repurchase of shares at 120% of book value since he states, "Ber...
by wshang
Thu Mar 20, 2014 8:15 pm
 
Forum: Investing - Theory, News & General
Topic: Are people really selling at the bottom of the market ?
Replies: 16
Views: 3344

Re: New callable CD offering

I've bought these before, but in the secondary market at a significant discount. I gather someone is cleaning out an inherited account or something similar. This GS offering I looked at carefully, and there are better deals out there. I bought one a few days ago as year-over-year CPI-U change times ...
by wshang
Wed Mar 12, 2014 11:13 pm
 
Forum: Investing - Theory, News & General
Topic: New callable CD offering
Replies: 18
Views: 1477

Re: "Muni Bond Costs Hit Investors in Wallet"

I hope everyone read this article in the Wall Street Journal March 10th. In 2013 Brokers were paid an average "spread" of 1.73% on muni bonds. This is simply preying on the retail investor! So let me get this straight. If I buy a bond ladder with an average duration of ten years, hold eac...
by wshang
Wed Mar 12, 2014 11:02 pm
 
Forum: Investing - Theory, News & General
Topic: "Muni Bond Costs Hit Investors in Wallet"
Replies: 22
Views: 1994

Re: Constructing a portfolio to meet expenses

I agree with all the advice given so far. Taxes are another consideration. Taxes on LT Cap gains are treated much better than dividends. If you do not realize some of your spending money in this way, you are given up a huge tax advantage. For example, if you are in the 15% Federal bracket, you could...
by wshang
Mon Mar 10, 2014 12:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Constructing a portfolio to meet expenses
Replies: 25
Views: 1226

Re: How did you get through the market crash in 08-09

Well, the problem with reading history is we are naturally imbued with the idea that it must turn out this way and it is progressive. When you have just lived through ten years of crushing depression, Europe has fallen, the France has collapsed and Britain is losing ships faster than they can be bui...
by wshang
Sun Mar 09, 2014 11:53 pm
 
Forum: Investing - Theory, News & General
Topic: How did you get through the market crash in 08-09
Replies: 104
Views: 5964
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