Search found 3162 matches
- Sat Mar 23, 2024 9:23 am
- Forum: Personal Consumer Issues
- Topic: Do you setback thermostat on your electric heatpump?
- Replies: 47
- Views: 2749
Re: Do you setback thermostat on your electric heatpump?
We don't do setbacks winter or summer. Sure, our variable speed Lennox heat pump system will run faster/harder and catch up relatively quickly, but that's just the air temp, not the furnishings temp. Let's say we have one of our regular power outages due to tree limbs falling somewhere on our 1100-customer circuit out here in the woods along the river. The indoor temp falls from the usual 70*F to, say, 67. When the power returns the indoor temp gets back up to 70 fairly rapidly, but the funiture, walls, floor, clothes in the closet, etc. take a few hours longer to get up to temp. I won't even get into the expense of the recovery if the auxillary/emergency heat strips are used. Now, imagine you have the backup strips running for an hour or ...
- Sat Mar 23, 2024 9:05 am
- Forum: Personal Finance (Not Investing)
- Topic: At what age to tell child about family's finances
- Replies: 74
- Views: 6100
Re: At what age to tell child about family's finances
My Dad was an estate attorney and he told any number of nightmares about parents who didn't share accurate and up to date financial information with heirs. Lost assets, theft and fraud by advisors, caregivers, or strangers etc. Long searches for assets that didn't exist or were disposed of decades ago. Completely inappropriate mismanaged investments. Kids who thought their parents had lots of assets and planned accordingly (assumed they could age in place and hire anything they needed) when in fact they had nothing. And vice-versa. A lot of people who wouldn't share information with kids did also not share information with spouses will all kinds of similiar disasters. He thought it was a power/control disorder. Very interesting post. I can...
- Sat Mar 23, 2024 9:01 am
- Forum: Personal Finance (Not Investing)
- Topic: At what age to tell child about family's finances
- Replies: 74
- Views: 6100
Re: At what age to tell child about family's finances
+1. it's a good learning experience that sparks good conversations.igotashoe wrote: ↑Fri Mar 22, 2024 10:01 pm Our 3 kids are 11, 9, and 7. We tell them everything. It comes with the risk that they will compare or tell friends. I’m okay accepting that risk for the trade off of them having an excellent financial education. They each have their own stock accounts and I can use mine as an example. They know how our rentals work, mortgages, revenue, taxes, etc. They are good with expenses, cost, debt, etc. Obviously my 11 year old understands better than the 7 year old. Teaching kids about finances is a key part of parenting and letting them have visibility and examples helps with that I think.
- Sat Mar 16, 2024 11:06 am
- Forum: Personal Investments
- Topic: 10 Year TIPS Purchase for Ladder - What to buy in 2024
- Replies: 8
- Views: 1677
Re: 10 Year TIPS Purchase for Ladder - What to buy in 2024
I think you'd want to buy TIPS asap as yields could decline the further out you go, so I'd go with the nearest re-opening.
But check with https://www.tipsladder.com to be sure.
But check with https://www.tipsladder.com to be sure.
- Fri Mar 15, 2024 3:57 pm
- Forum: Personal Investments
- Topic: What should I do with a deferred annuity?
- Replies: 15
- Views: 1414
Re: What should I do with a deferred annuity?
Here’s the link with the info you want
https://fundresearch.fidelity.com/fund- ... duct=FPRAI
Expense ratio looks quite low 0.12%.
If there are surrender charges, and not much taxable gains, and you’re just going to invest in a tax efficient Total Market index fund, I can see withdrawing the annuity.
OTOH, if you want more tax deferred space for bonds, you could move the money into the bond index account.
https://fundresearch.fidelity.com/fund- ... duct=FPRAI
Expense ratio looks quite low 0.12%.
If there are surrender charges, and not much taxable gains, and you’re just going to invest in a tax efficient Total Market index fund, I can see withdrawing the annuity.
OTOH, if you want more tax deferred space for bonds, you could move the money into the bond index account.
- Wed Mar 13, 2024 5:10 am
- Forum: Personal Investments
- Topic: How is a broker going to make money off me?
- Replies: 62
- Views: 6049
Re: How is a broker going to make money off me?
VBS’s 606 report says that it doesn’t receive payment for order flow. Here are the historical reports starting with 4Q2023.billaster wrote: ↑Tue Mar 12, 2024 10:56 pmFidelity does not accept payment for order flow for equities or ETFs. Fidelity does accept payment for order flow for options, which typically is more lucrative. You can see that above in the Schwab trading revenue. Schwab receives twice as much order flow revenue from options as from equities.Northern Flicker wrote: ↑Tue Mar 12, 2024 10:14 pm Fidelity and Vanguard do not accept payment for order flow.
Vanguard claims they never receive payment for order flow, but I don't know the details.
https://nms606.karngroup.com/vgrd/606a/ ... 588e3c62ff
- Mon Mar 11, 2024 10:46 pm
- Forum: Investing - Theory, News & General
- Topic: Embracing Principles [during the dot-com bubble and tech surges?]
- Replies: 43
- Views: 4195
Re: Embracing Principles Amidst Bitcoin and Nvidia's Surge?
If FOMO is causing you so much heartache and anxiety, then following the crowd won’t cure that. Unfortunately, you may find out many years too late. Maybe see a therapist to see why it bothers you so much.
- Sun Mar 10, 2024 3:49 pm
- Forum: Investing - Theory, News & General
- Topic: How Limit order purchases of ETFs work - still learning
- Replies: 12
- Views: 883
Re: How Limit order purchases of ETFs work - still learning
When buying using dollar amounts at Fidelity there will probably be a little left over. When using a limit order you are declaring the price you want to buy at and as stated above Fidelity might not be able to find a seller at that price depending on the market. Unless you have a really good reason to use a limit order I would just use a market order. For highly traded securities like VTI it will execute nearly instantly at a good price. Doing things this way you will more than likely have your orders filled well and the leftover amount will be closer to the few penny amount. Since you are at Fidelity, if this would be something you are doing on a regular basis I would just set it up as a recurring investment (daily/weekly/monthly) and let...
- Thu Mar 07, 2024 5:38 am
- Forum: Personal Finance (Not Investing)
- Topic: Laid off and want to downshift
- Replies: 30
- Views: 4874
Re: Laid off and want to downshift
OP,
You gotta do what you gotta do. Personally, if the fed job is the only offer you’ve gotten, I’d take it and keep looking. Then re evaluate if/when you get an another offer. I’d ask the hiring agency what possible grade increase looks like. Like r u getting hired at the top grade for the position, or cash it go up to a higher grade.
If you’ve done the calculations and it works out, and the others above haven’t come back with calcs showing it doesn’t work, then you’re likely fine.
Also, here are some historical fed salary increases. Looks like few and far between, which is why to ask about future grade increases.
https://www.federalpay.org/gs/raises
You gotta do what you gotta do. Personally, if the fed job is the only offer you’ve gotten, I’d take it and keep looking. Then re evaluate if/when you get an another offer. I’d ask the hiring agency what possible grade increase looks like. Like r u getting hired at the top grade for the position, or cash it go up to a higher grade.
If you’ve done the calculations and it works out, and the others above haven’t come back with calcs showing it doesn’t work, then you’re likely fine.
Also, here are some historical fed salary increases. Looks like few and far between, which is why to ask about future grade increases.
https://www.federalpay.org/gs/raises
- Tue Mar 05, 2024 8:26 pm
- Forum: Personal Investments
- Topic: the psychological value of "paycheck replacement." Any role for annuities or TIPS ladders?
- Replies: 54
- Views: 6529
Re: the psychological value of "paycheck replacement." Any role for annuities or TIPS ladders?
Do you have a TIPS fund in your 457? That way if TIPS real yields fall, the value of the TIPS fund will rise.
- Tue Mar 05, 2024 7:08 pm
- Forum: Personal Investments
- Topic: Recent Windfall, Readjust Portfolio.
- Replies: 6
- Views: 1216
Re: Recent Windfall, Readjust Portfolio.
So the “windfall” portfolio isn’t an inheritance where you a stepped up basis, correct?
- Sat Mar 02, 2024 8:43 am
- Forum: Investing - Theory, News & General
- Topic: Case study Broker trade executions
- Replies: 313
- Views: 52076
Re: Case study Broker trade executions
Posting to add one positive experience at Vanguard. Last week I bought 32 shares of LTPZ (Pimco 15+ yr TIPS ETF) at around 1:30 PM. The order entry screen said that the bid was 55.10 x 500 and the ask was 55.15 x 600, and the 32 shares were executed immediately at 55.125 (so price improvement).
- Fri Mar 01, 2024 10:51 am
- Forum: Personal Finance (Not Investing)
- Topic: Pre-retirement: the "hurry up and wait" phase
- Replies: 17
- Views: 1858
Re: Pre-retirement: the "hurry up and wait" phase
I grew a beard and started a hobby (running).
Also, high school with my kids was much more active for me as they had more demanding activities. So I was busier than when they were in middle school.
Also, high school with my kids was much more active for me as they had more demanding activities. So I was busier than when they were in middle school.
- Sun Feb 25, 2024 10:10 pm
- Forum: Personal Investments
- Topic: Portfolio Advice
- Replies: 23
- Views: 2257
Re: Portfolio Advice
Maybe I’m missing it, but Dave and spouse have 2.9 million in retirement accounts, and are adding between 95-100k annually (including employer contributions). Plus spouse’s 100k per year pension. Plus both will get large SS. Plus Dave can work past 65.
Why does savings rate need to go high(er)?
- Sun Feb 25, 2024 3:57 pm
- Forum: Personal Investments
- Topic: Laddering securites?
- Replies: 4
- Views: 428
Re: Laddering securites?
Currently, you don't need to "lock up" money to get a higher yield because short term interest rates are higher than longer term interest rates (inverted yield curve). Short term rates are above 5% - see here - https://personal.vanguard.com/us/FixedIncomeHome. Since it appears you're just starting out, it might be easier and simpler to just use something like Vanguard's Treasury Money Market Fund - https://investor.vanguard.com/investment-products/mutual-funds/profile/vusxx. I'm about your age, and use this fund for short term savings. Very easy to buy/sell from/to your checking account. If the yield curve returns to more normal, and you have more $$ accumulated to make a difference, then take another look at what you described. O...
- Sun Feb 25, 2024 3:42 pm
- Forum: Investing - Theory, News & General
- Topic: CalPERS Supplemental Contributions Plan - Does anyone have experience with this?
- Replies: 7
- Views: 1606
Re: CalPERS Supplemental Contributions Plan - Does anyone have experience with this?
If you have bond like investments in your taxable account that you'd really rather hold in retirement accounts, then this after tax plan may be good as you can defer the return/interest on the bond fund until withdraw rather than pay taxes on them every year.
- Sun Feb 25, 2024 1:08 pm
- Forum: Personal Investments
- Topic: Portfolio Advice
- Replies: 23
- Views: 2257
Re: Portfolio Advice
Thanks. Agree with stan1 that everything looks pretty good. Excellent use of the Target Retirement funds to make it pretty simple. I think using the 457 to shelter even more retirement money at your current high tax rates rather than putting money into the taxable account is a good idea. Though, I think I'd pay off the car loans before putting money in the taxable account. What type of 457 is it? e.g., the kind executive of companies use, or the kind that state employees have access to. Maybe a link to your school's 457 website would help. For context, he’s a tenured professor. She’s a physician. So, income is secure, and this absent-minded professor could work for a long time. She is likely to retire when she becomes eligible for the maxim...
- Sun Feb 25, 2024 10:24 am
- Forum: Personal Investments
- Topic: Portfolio Advice
- Replies: 23
- Views: 2257
Re: Portfolio Advice
Just curios why you’re only contributing 3% to your 403(b) unless that’s a typo.
- Sat Feb 24, 2024 4:02 pm
- Forum: Personal Finance (Not Investing)
- Topic: Do your intra-company yearly raises keep with inflation?
- Replies: 60
- Views: 6333
- Fri Feb 23, 2024 3:10 pm
- Forum: Personal Investments
- Topic: Investment Strategy when approaching Retirement.
- Replies: 32
- Views: 3097
Re: Investment Strategy when approaching Retirement.
My in laws amassed pretty large 401k balances, and used Vanguard’s Personal Advisor Services after rolling the 401k over into an IRA. They’ve been happy so far, and I think it’s around 0.30% per year.
- Fri Feb 23, 2024 2:52 pm
- Forum: Personal Consumer Issues
- Topic: insights on living in the Blue Ridge Mountain region?
- Replies: 27
- Views: 4921
Re: insights on living in the Blue Ridge Mountain region?
My grandparents lived in Staunton VA for 20 years and loved it. And I loved visiting.
- Thu Feb 22, 2024 5:17 pm
- Forum: Personal Investments
- Topic: 401K Fund Selection
- Replies: 11
- Views: 1728
Re: 401K Fund Selection
If you can use a cheap Fidelity TR fund in the brokerage link account, then using TR funds in both 401k accounts is very simple.
- Thu Feb 22, 2024 10:38 am
- Forum: Investing - Theory, News & General
- Topic: 30-Year TIPS Auction Thursday 2/22/2024
- Replies: 8
- Views: 1943
Re: 30-Year TIPS Auction Thursday 2/22/2024
I'm about 10 years from retirement, and am starting to amass liability matching assets, which I'll ramp up over the next 10 years. I take the yields the market gives me, and as TIPS yields have increased over the last year to so, liability matching has gotten cheaper.rossington wrote: ↑Thu Feb 22, 2024 5:06 amHi Alec,
Why can't you wait?
Is 2.18% real yield for 30 years exciting to you?
Or are you trading TIPS?
I don't trade TIPS or anything else.
- Wed Feb 21, 2024 8:04 pm
- Forum: Personal Investments
- Topic: Vanguard Wellesley
- Replies: 125
- Views: 18646
Re: Vanguard Wellesley
For only 3 years, you may want to consider treasury notes, which are yielding 4-5%.jasperhobbs wrote: ↑Wed Feb 21, 2024 7:01 pm Not looking to withdraw until 2027. Want a conservative fund that hopefully averages 4 or 5 percent. Have other more aggressive funds for growth. Just want portion of portfolio less risky.
- Wed Feb 21, 2024 8:01 pm
- Forum: Investing - Theory, News & General
- Topic: 30-Year TIPS Auction Thursday 2/22/2024
- Replies: 8
- Views: 1943
Re: 30-Year TIPS Auction Thursday 2/22/2024
Can’t wait!!!
- Tue Feb 20, 2024 5:42 pm
- Forum: Personal Investments
- Topic: the psychological value of "paycheck replacement." Any role for annuities or TIPS ladders?
- Replies: 54
- Views: 6529
- Sun Feb 18, 2024 7:44 pm
- Forum: Personal Investments
- Topic: Direct Indexing Worth It?
- Replies: 19
- Views: 2211
- Fri Feb 16, 2024 8:12 pm
- Forum: Personal Investments
- Topic: Vanguard Wellesley
- Replies: 125
- Views: 18646
Re: Vanguard Wellesley
LOL. I highly doubt it. Rather, the higher dividend and large value stocks used in the fund have trailed the large growth stocks that have done well recently.Cocoa Beach Bum wrote: ↑Fri Feb 16, 2024 7:49 pm Maybe the fund's manager, Wellington Management, has adopted an ESG-oriented investment thesis which has recently fallen out of favor?
- Fri Feb 16, 2024 6:34 pm
- Forum: Personal Finance (Not Investing)
- Topic: Is there a benefit to opening a 529 for food/books?
- Replies: 14
- Views: 1185
Re: Is there a benefit to opening a 529 for food/books?
I think the short answer is yes.I-Know-Nothing wrote: ↑Fri Feb 16, 2024 4:48 pm Anyway, all that being said, we would still like to pay for books and food while she is in college. I’m estimating that this would cost at least $4k a year. Is it worth it to start a 529 for just these expenses, and with less than 12 years until she is in college? We don’t have state income tax. I understand that we could now roll excess 529 funds (up to $35k) into a Roth for her.
- Fri Feb 16, 2024 6:16 pm
- Forum: Personal Investments
- Topic: Portfolio Analysis - 401K questions and just overall how am I doing
- Replies: 20
- Views: 2221
Re: Portfolio Analysis - 401K questions and just overall how am I doing
Any reason you’re not using some CA muni bond funds in the taxable account?
- Fri Feb 16, 2024 8:51 am
- Forum: Personal Investments
- Topic: Vanguard Wellesley
- Replies: 125
- Views: 18646
Re: Vanguard Wellesley
If you want a balanced fund that focuses on large value stocks and more corporate bonds, then this fund is fine because the fund sticks to its strategy.
- Tue Feb 13, 2024 5:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Pension increase vs. life insurance mitigation strategy
- Replies: 10
- Views: 593
Re: Pension increase vs. life insurance mitigation strategy
Or even a 75% survivor option
- Tue Feb 13, 2024 5:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Pension increase vs. life insurance mitigation strategy
- Replies: 10
- Views: 593
Re: Pension increase vs. life insurance mitigation strategy
Or even a 75% survivor option
- Mon Feb 12, 2024 9:20 pm
- Forum: Investing - Theory, News & General
- Topic: What Category of Investment Did Well During the "Lost Decade" (2000s)
- Replies: 51
- Views: 5527
Re: What Category of Investment Did Well During the "Lost Decade" (2000s)
Treasury notes, bonds, and TIPS
- Sat Feb 10, 2024 5:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: How are my Fixed Funds actually invested?
- Replies: 3
- Views: 520
Re: How are my Fixed Funds actually invested?
See either
1. The Asset Allocation of this page https://www.trsnyc.org/memberportal/Inv ... ReturnFund
2. Page 4 of this: https://www.trsnyc.org/memberportal/Web ... folios2023
3. The more comprehensive annual report: https://www.trsnyc.org/memberportal/Web ... s/ACFR2023
1. The Asset Allocation of this page https://www.trsnyc.org/memberportal/Inv ... ReturnFund
2. Page 4 of this: https://www.trsnyc.org/memberportal/Web ... folios2023
3. The more comprehensive annual report: https://www.trsnyc.org/memberportal/Web ... s/ACFR2023
- Sat Feb 10, 2024 8:16 am
- Forum: Personal Investments
- Topic: Why didn't I receive the open market price?
- Replies: 20
- Views: 2270
Re: Why didn't I receive the open market price?
I’d file a complaint with FINRA, https://www.finra.org/investors/need-he ... -complaint
- Thu Feb 08, 2024 8:38 pm
- Forum: Investing - Theory, News & General
- Topic: Avantis Core Fixed Income ETF (AVIG)
- Replies: 19
- Views: 2029
Re: Avantis Core Fixed Income ETF (AVIG)
Seems fine if you want a low cost actively managed bond fund that takes more risk than BND.
- Mon Feb 05, 2024 7:59 am
- Forum: Investing - Theory, News & General
- Topic: 10-year yields
- Replies: 3
- Views: 717
Re: 10-year yields
My future consumption liabilities are affected by inflation, so I want to use mostly TIPS.
- Sun Feb 04, 2024 5:04 pm
- Forum: Personal Investments
- Topic: Should We Change our AA?
- Replies: 2
- Views: 584
Re: Should We Change our AA?
Seems rationale if you can stand it when the stock market eventually declines and you’re new portfolio goes down more than the old one.
- Sat Feb 03, 2024 6:52 pm
- Forum: Investing - Theory, News & General
- Topic: Do Bond Funds Really Make Sense for the Long Run?
- Replies: 399
- Views: 39291
Re: Do Bond Funds Really Make Sense for the Long Run?
I use a TIPS fund in my 401k, and then individual TIPS in my IRA.LaramieWind wrote: ↑Sat Feb 03, 2024 6:35 pm I would love to buy TIPS but the majority of my money is in IRA/401K. Do that many BH have that much money in tax unfriendly accounts?
- Sat Feb 03, 2024 5:00 pm
- Forum: Investing - Theory, News & General
- Topic: Treasury Note prices on secondary market
- Replies: 10
- Views: 1067
Re: Treasury Note prices on secondary market
With a bond fund the computation of the NAV change with rate rise is rather simple which is the duration x rate approximately. My question relates to how Treasury Notes prices on the secondary market change. Is there a formula to calculate this? Say I buy a current 3 year Treasury Note yielding 4.1%. Say 3 year rates rise to 5% in the next year and I need to sell some bonds. Is there a predictable way to tell in 12 months, with a rise from 4.1% to 5% in the 3 year rate, what the price on the secondary market would be? Say in month 34 of 36 the same thing happens, the 3 year rate rises from 4.1% to 5%, with just 2 months until I get the entire face value of the bond anyway the drop in the secondary market price should be much lower than ear...
- Sat Feb 03, 2024 4:54 pm
- Forum: Investing - Theory, News & General
- Topic: Three ways that shareholders make money from mutual funds
- Replies: 34
- Views: 1920
Re: Three ways that shareholders make money from mutual funds
securities lending
- Fri Feb 02, 2024 1:27 pm
- Forum: Personal Investments
- Topic: What do you suggest for risk free assets
- Replies: 4
- Views: 645
Re: What do you suggest for risk free assets
Then a ladder of CDs seems appropriate.gavinsiu wrote: ↑Fri Feb 02, 2024 12:54 pmYes, moving the money to the HYSA has the highest impact. The other options does not seem worth it, but I am concern about rates falling.Doctor Rhythm wrote: ↑Fri Feb 02, 2024 12:25 pm I think you hit the main options. If you are managing the money, pick whatever has the highest after tax yield. If she’s doing it, consider ease of use. I might just do HYSA with a linked checking account in that case.
- Thu Feb 01, 2024 12:24 pm
- Forum: Personal Consumer Issues
- Topic: Best & Worst "Mid-Life Crisis" expenditures
- Replies: 129
- Views: 24660
- Tue Jan 30, 2024 5:52 pm
- Forum: Personal Finance (Not Investing)
- Topic: Recommended Course of Action - Age 77
- Replies: 1
- Views: 829
Re: Recommended Course of Action - Age 77
I wasn’t sure if the “my mutual funds” was all in a taxable account, but not sure you want a balanced fund in a taxable account if you have to start redeeming the i bonds to avoid a huge tax bill later on.
- Tue Jan 30, 2024 12:05 pm
- Forum: Investing - Theory, News & General
- Topic: CalPERS Supplemental Contributions Plan - Does anyone have experience with this?
- Replies: 7
- Views: 1606
Re: CalPERS Supplemental Contributions Plan - Does anyone have experience with this?
From the CALPers deferred comp website looks to me like the SCP plan is just the after tax version of the pretax 457 plan, both run by Voya.
https://www.calpers.ca.gov/page/active- ... mpensation
https://www.calpers.ca.gov/page/active- ... mpensation
- Mon Jan 29, 2024 5:49 pm
- Forum: Personal Investments
- Topic: Portfolio Review 7 years prior to retiring
- Replies: 9
- Views: 1693
Re: Portfolio Review 7 years prior to retiring
For tax efficiency, Can you put the CDs and HYSA/Money Market inside the IRA and switch the stock index funds into the taxable account.
- Sat Jan 27, 2024 8:05 pm
- Forum: Personal Investments
- Topic: Selling T-bills before maturity - how long - help
- Replies: 3
- Views: 579
Re: Selling T-bills before maturity - how long - help
Probably, but the speed probably depends on whether you hold the bills in the new or legacy system. The non-legacy system might be totally online instead of having to mail something in.LBK1 wrote: ↑Sat Jan 27, 2024 7:41 pmThey mature in July. Ideally I would like to access the funds much sooner than that. Is that possible?Geologist wrote: ↑Sat Jan 27, 2024 6:40 pm Indeed, you have to transfer Treasuries out of Treasury Direct to a brokerage (not a bank) so you can sell them. How long until these T-bills mature? It is possible they would mature before you could transfer them to a brokerage and then arrange their sale.
https://www.treasurydirect.gov/marketab ... ecurities/
- Sat Jan 27, 2024 4:32 pm
- Forum: Personal Investments
- Topic: Deferred Fixed Annuities
- Replies: 8
- Views: 1112
Re: Deferred Fixed Annuities
Is this a taxable account, or inside the Roth? If the Roth, why not just by CDs at Fidelity?
- Sat Jan 27, 2024 8:00 am
- Forum: Personal Investments
- Topic: Advice for a Shorter Term Goal
- Replies: 6
- Views: 701
Re: Advice for a Shorter Term Goal
also, has the OP looked at the muni MM fund instead of the treasury MM fund (35% marginal tax bracket).dwickenh wrote: ↑Sat Jan 27, 2024 7:56 am For your situation I agree that a 5 year treasury ladder makes sense. You are matching the need with the treasury duration and eliminating risk other than interest rates spiking after you build the ladder. As long as the original ladder meets your needs, I see no risk at all.
Dan