Search found 15539 matches

by Mel Lindauer
Mon Jan 22, 2024 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

Wait, you are so opposed to taxes that you would give up $24,000, a 26% pay cut, to avoid to avoid a few percent of tax? I'm not sure what you mean by "well ahead", other than sticking it to the tax man while simultaneously sticking to yourself. Talk about the tax tail wagging the dog! (As mentioned before, per capita tax includes both personal and business taxes. Not all of the per capita tax that you calculated is paid by individuals.) Not an issue. We're talking about retirees who already have their assets to spend, not working folks who are still trying to make it (see the thread title). Of course your financial situation is unique to you but you shouldn't [unnecessary comment removed - moderator ClaycordJCA] speak for everyo...
by Mel Lindauer
Mon Jan 22, 2024 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

JoeNJ28 wrote: Mon Jan 22, 2024 5:54 pm A lot of these bash California posts seem to forget over 95% in this country don’t have multimillion dollar 401ks plus pensions plus taxable accounts throwing off dividends. But hey whatever makes everyone happy.
There's probably as much Florida bashing as there is California bashing.
by Mel Lindauer
Mon Jan 22, 2024 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

Despite all of this, CA residents still pay the third highest taxes per capita in the country. Here's the rundown: For FY 2021, the District of Columbia surpassed all states with $13,278 in per capita tax collections. New York followed at $10,266 in state and local tax collections per person, with Connecticut ($9,458), California ($9,175), New Jersey ($8,303), and Massachusetts ($8,101) not far behind. At the other end of the spectrum, Alaska was lowest at $4,192, followed by Alabama ($4,245), Tennessee ($4,272), Florida ($4,405), and Mississippi ($4,435). Here's the rest of the rundown using your numbers: Florida per capita tax $4,405 Florida median household income $68,000 California per capita tax $9,175 California median household inco...
by Mel Lindauer
Mon Jan 22, 2024 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

. . . Yeah...but then you have to live in Florida. No thanks. . . . But, as retirees...dang...life is good for us here in CA. It was worth all the taxes we've paid for all the blessings we have received. Would not change a thing. Since we're already getting nearly 1000 new residents per day moving to FL, we're glad to hear that some folks like you are staying put. 8-) My wife's family is in CA and I love visiting, but I certainly wouldn't want to live there. Traffic is unbearable and I get sticker shock at the prices for so many things (the high gas prices are so visible everywhere you go and I don't know how anyone can afford to buy a home). I'm happy that life is good for you in CA and that you feel you're getting what you paid for. Diff...
by Mel Lindauer
Mon Jan 22, 2024 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

mrsbetsy wrote: Mon Jan 22, 2024 12:26 am
I'm hoping that the driverless cars come to reality about the same time when I should no longer be driving.

When they do many of life's current realities are going to change.

I thought they'd be here a lot sooner than it appears they will be.
Me too! It would make life so much easier for our adult son with epilepsy. He will never drive and Uber/Lyft is spendy and unreliable. I think it's getting closer to a reality every day.
Me three! I have nightmares about the possibility of ever losing my license at some point in the future.
by Mel Lindauer
Mon Jan 22, 2024 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

Despite all of this, CA residents still pay the third highest taxes per capita in the country. Here's the rundown: For FY 2021, the District of Columbia surpassed all states with $13,278 in per capita tax collections. New York followed at $10,266 in state and local tax collections per person, with Connecticut ($9,458), California ($9,175), New Jersey ($8,303), and Massachusetts ($8,101) not far behind. At the other end of the spectrum, Alaska was lowest at $4,192, followed by Alabama ($4,245), Tennessee ($4,272), Florida ($4,405), and Mississippi ($4,435). Here's the rest of the rundown using your numbers: Florida per capita tax $4,405 Florida median household income $68,000 California per capita tax $9,175 California median household inco...
by Mel Lindauer
Mon Jan 22, 2024 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

State income tax is just one piece of the equation as many others have stated. As recent retirees, we've enjoyed these features: CA has Prop 13, so I know without a doubt that my property tax will not increase year over year more than 2%. I have no idea how other states, like Texas, manage this for budgeting when the increase is at the whim of the local agencies. CA does not tax social security. For those fleeing to Colorado, they will face state taxes for over 20K. CA does not tax groceries. People fleeing to Idaho will face 6%. Ouch! Homeowners insurance runs <1K per year. Our fixed expenses are easy to understand. Mountains 3 hours north (skiing/hiking), the beach 2 hours west, the perks of a big city 90 minutes west. World famous viney...
by Mel Lindauer
Mon Jan 22, 2024 9:37 am
Forum: US Chapters
Topic: Forming Frisco-Mckinney-Plano-Allen Chapter
Replies: 11
Views: 6244

Re: Forming Frisco-Mckinney-Plano-Allen Chapter

You've got three out of the needed five to get a Local Chapter up and running. One of you would have to agree to be the Local Chapter Coordinator (PM me if you're willing to step up).

Once you get five and one of you agrees to be the Local Chapter Coordinator, we'll make your new Local Chapter official.
by Mel Lindauer
Sun Jan 21, 2024 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: No-state-income-tax states are not good for retirees.
Replies: 413
Views: 39631

Re: No-state-income-tax states are not good for retirees.

State income tax is just one piece of the equation as many others have stated. As recent retirees, we've enjoyed these features: CA has Prop 13, so I know without a doubt that my property tax will not increase year over year more than 2%. I have no idea how other states, like Texas, manage this for budgeting when the increase is at the whim of the local agencies. CA does not tax social security. For those fleeing to Colorado, they will face state taxes for over 20K. CA does not tax groceries. People fleeing to Idaho will face 6%. Ouch! Homeowners insurance runs <1K per year. Our fixed expenses are easy to understand. Mountains 3 hours north (skiing/hiking), the beach 2 hours west, the perks of a big city 90 minutes west. World famous viney...
by Mel Lindauer
Sun Jan 21, 2024 7:28 pm
Forum: Personal Investments
Topic: What should a 94-yr old do with mature EE bonds?
Replies: 11
Views: 1221

Re: What should a 94-yr old do with mature EE bonds?

^^^EE Bond doubling periods varied, depending on the purchase date. After the doubling period, there was another stated interest rate for the remainder of the 30 years. (Since all EE Bonds were purchased at half face value, they all had a doubling period.)
by Mel Lindauer
Sun Jan 21, 2024 6:02 pm
Forum: Personal Investments
Topic: What should a 94-yr old do with mature EE bonds?
Replies: 11
Views: 1221

Re: What should a 94-yr old do with mature EE bonds?

The fact that their current value is only slightly above the guaranteed doubling amount leads me to believe that, while they definitely have reached what's known as "initial maturity" (when they double in value), they may not have reached their 30-year "final maturity". Check to make sure about this.

And, as others have advised, if they haven't yet reached final maturity, spread the redemptions out over time to ease the tax hit.
by Mel Lindauer
Wed Jan 17, 2024 10:57 pm
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1239440

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

This is an I Bond thread. If you want to discuss cash management accounts, please start another thread.
by Mel Lindauer
Tue Jan 16, 2024 1:54 pm
Forum: Investing - Theory, News & General
Topic: RIP Jack Bogle (Jack died Jan. 16, 2019)
Replies: 27
Views: 3016

Re: RIP Jack Bogle (Jack died Jan. 16, 2019)

It's hard to believe that it's already been five years since my friend and mentor, Jack Bogle, passed away. RIP, Jack. We're continuing to spread your message, as I promised you we'd do. Thanks. I always loved this quote: The most celebrated investor of our time, Warren Buffett, on Jack Bogle, the founder of Vanguard: “If a statue is ever erected to honor the person who has done the most for American investors, the handsdown choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. In his crusade, he amassed only a tiny percentage of the wealth that has typically flowed to managers who have promised their investors large rewards while delivering them nothing – or, as in our bet, less than n...
by Mel Lindauer
Mon Jan 15, 2024 11:28 pm
Forum: Investing - Theory, News & General
Topic: RIP Jack Bogle (Jack died Jan. 16, 2019)
Replies: 27
Views: 3016

RIP Jack Bogle (Jack died Jan. 16, 2019)

It's hard to believe that it's already been five years since my friend and mentor, Jack Bogle, passed away.

RIP, Jack. We're continuing to spread your message, as I promised you we'd do.
by Mel Lindauer
Mon Jan 15, 2024 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: tracking IBONDs in your portfolio with bogle.tools
Replies: 79
Views: 10327

Re: tracking IBONDs in your portfolio with bogle.tools

I did some random testing. You are showing the latest available balances, not the balance as of the current month, as below. Purchase Date Accrued Balance Balance as of 21-Jan 11,928.00 7/1/2024 20-Jan 12,220.00 7/1/2024 19-Jan 12,672.00 7/1/2024 18-Jun 12,700.00 6/1/2024 23-Jan 10,768.00 7/1/2024 Total* 60,288.00 * Total of balances on different dates If I input a purchase date of Oct 2021, the balance shown is the 10-1-2024 balance. Shouldn't the balances be the current month balances? You haven't yet earned the interest income for future months. Tracking this issue as https://github.com/bogle-tools/site/issues/262 Thanks for the report. Will investigate very soon. Also…Fixed issue 259 & 261 from above. Think this issue (#262) is now...
by Mel Lindauer
Sun Jan 14, 2024 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: Why do we work?
Replies: 130
Views: 19023

Re: Why do we work?

We work so we don't have to work.
by Mel Lindauer
Sat Jan 13, 2024 12:09 am
Forum: US Chapters
Topic: Interest In forming North Texas Boglehead Group
Replies: 48
Views: 18097

Re: Interest In forming North Texas Boglehead Group

san1 wrote: Fri Jan 12, 2024 9:22 pm Trying to see if this ever got enough traction to start a local chapter in Plano-Frisco-Mckinney-Allen area?
Suggest you start a new thread with your request. Label it with the new area and see if you get five folks who are interested and one of you agrees to be the Local Chapter Coordinator. If that happens, then I'll get your new chapter up and running.
by Mel Lindauer
Thu Jan 11, 2024 10:45 pm
Forum: Personal Consumer Issues
Topic: How to start a friendly meet-up of retirees/pre-retirees?
Replies: 9
Views: 1503

Re: How to start a friendly meet-up of retirees/pre-retirees?

Here's a link to 96 US-based Local Bogleheads Chapters and another four chapters located in foreign countries. Hopefully one of them is close to you.

https://www.google.com/maps/d/u/0/viewe ... 221207&z=2
by Mel Lindauer
Thu Jan 11, 2024 10:38 pm
Forum: Personal Investments
Topic: EE Bonds or I Bonds this year?
Replies: 45
Views: 7767

Re: EE Bonds or I Bonds this year?

WhitePuma wrote: Thu Jan 11, 2024 8:57 pm I can’t figure out why anyone would want EE bonds.

You must commit to a 20-year holding to get a 3.5% return, which after taxes is worse than inflation. No thanks, I’d rather sleep in a bunk bed under Oprah.
Some who've used up all of their tax-deferred space might want them for the additional tax deferral, freedom from state and local taxation, and doubling in 20 years, purchasing them while they're in a high tax bracket and then deferring the taxes until they're in a low tax bracket at retirement.
by Mel Lindauer
Tue Jan 09, 2024 12:11 pm
Forum: Personal Investments
Topic: TIPS [Treasury Inflation Protected Securities]
Replies: 120
Views: 19832

Re: TIPS are worthless

If TIPS seem too complicated and you're not absolutely positive that you can hold to maturity, use I Bonds for your inflation protection needs, knowing that you can never lose principle.
by Mel Lindauer
Sun Jan 07, 2024 2:46 pm
Forum: Personal Investments
Topic: Fixed Index Annuity Recommendation
Replies: 21
Views: 4517

Re: Fixed Index Annuity Recommendation

Here's a link to a couple of old Forbes columns I wrote on a couple of these annuities:

https://www.forbes.com/2010/07/16/fixed ... 9e75e3aecf

https://www.forbes.com/2010/08/10/truth ... 29ac771257
by Mel Lindauer
Thu Jan 04, 2024 9:01 am
Forum: Non-US Chapters
Topic: Happy 5th Birthday to our Spanish Bogleheads
Replies: 0
Views: 5318

Happy 5th Birthday to our Spanish Bogleheads

Bogleheads® España, the Bogleheads Spanish language site in Spain, launched on January 4, 2019. The site consists of a forum, a wiki, a blog and an investment guide.
by Mel Lindauer
Wed Jan 03, 2024 10:09 pm
Forum: Personal Consumer Issues
Topic: What big hairy audacious goals do you have for 2024?
Replies: 109
Views: 15899

Re: What big hairy audacious goals do you have for 2024?

Bogleheads: Along with Mel Lindauer and Michael LeBoeuf, we are thinking about a new book updating our last Bogleheads' Guide to Investing. Happy Holidays! Taylor Jack Bogle's Words of Wisdom: "Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." This is awesome news! Any idea when it might be release? I'm due for a refresher and wonder if I should buy the 2nd edition or wait. I'd say to buy the 2nd edition since we haven't gotten approval for a third edition from our publisher, and it may never come since our Executive Editor at Wiley appears to have retired. And even when/if we get the go-ahead from our publisher, it could take ano...
by Mel Lindauer
Wed Jan 03, 2024 5:59 pm
Forum: Personal Investments
Topic: Boglehead's remorse?
Replies: 102
Views: 20345

Re: Boglehead's remorse?

Once you make a decision, look forward, not backward at what coulda, and woulda been.
by Mel Lindauer
Tue Jan 02, 2024 3:14 pm
Forum: Investing - Theory, News & General
Topic: WSJ doing story on RMDs at market highs
Replies: 1
Views: 1193

WSJ doing story on RMDs at market highs

A reporter at The Wall Street Journal is writing about RMDs in 2024 and how they are likely to be at or near record highs, thanks to the stock market’s record highs in late 2023. Obviously, higher balances are a good thing, but higher RMDs can present tax and Medicare premium challenges for retirees too. If you have concerns or thoughts on your RMDs for 2024, the reporter would love to hear from you. Please email Anne Tergesen at anne.tergesen@wsj.com by Wed. Jan. 3.
by Mel Lindauer
Sat Dec 30, 2023 8:00 pm
Forum: Personal Investments
Topic: Buying in taxable and selling in tax deferred not equivalent
Replies: 46
Views: 2782

Re: Buying in taxable and selling in tax deferred not equivalent

In order to move bonds into my tax deferred traditional 401k I have been buying VTI in my taxable account and simultaneously selling the same number of shares of VTI in my 401k. With the proceeds I buy bonds in my 401k. Please confirm for me that the stock in the taxable account is more valuable, since I have already payed income tax on it, so this is in effect increasing my overall stock allocation. Lots of discussion on placement and taxes, but no one seems to have mentioned that you've created a wash sale, so there are tax implications to that if you had planned to claim a tax loss on the sale of some or all of your taxable VTI shares. That's not a wash sale because there was no loss in a taxable account. He didn't state what his cost b...
by Mel Lindauer
Sat Dec 30, 2023 7:51 pm
Forum: Personal Investments
Topic: Buying in taxable and selling in tax deferred not equivalent
Replies: 46
Views: 2782

Re: Buying in taxable and selling in tax deferred not equivalent

Lee_WSP wrote: Sat Dec 30, 2023 5:04 pm
Mel Lindauer wrote: Sat Dec 30, 2023 4:55 pm
Round wrote: Sat Dec 30, 2023 11:26 am In order to move bonds into my tax deferred traditional 401k I have been buying VTI in my taxable account and simultaneously selling the same number of shares of VTI in my 401k. With the proceeds I buy bonds in my 401k. Please confirm for me that the stock in the taxable account is more valuable, since I have already payed income tax on it, so this is in effect increasing my overall stock allocation.
Lots of discussion on placement and taxes, but no one seems to have mentioned that you've created a wash sale, so there are tax implications to that if you had planned to claim a tax loss on the sale of some or all of your taxable VTI shares.
I don't recall the claiming of a loss.
If you didn't claim a loss, then you're fine.
by Mel Lindauer
Sat Dec 30, 2023 4:55 pm
Forum: Personal Investments
Topic: Buying in taxable and selling in tax deferred not equivalent
Replies: 46
Views: 2782

Re: Buying in taxable and selling in tax deferred not equivalent

Round wrote: Sat Dec 30, 2023 11:26 am In order to move bonds into my tax deferred traditional 401k I have been buying VTI in my taxable account and simultaneously selling the same number of shares of VTI in my 401k. With the proceeds I buy bonds in my 401k. Please confirm for me that the stock in the taxable account is more valuable, since I have already payed income tax on it, so this is in effect increasing my overall stock allocation.
Lots of discussion on placement and taxes, but no one seems to have mentioned that you've created a wash sale, so there are tax implications to that if you had planned to claim a tax loss on the sale of some or all of your taxable VTI shares.
by Mel Lindauer
Fri Dec 29, 2023 5:46 pm
Forum: Personal Investments
Topic: Vanguard Annuity - what to do with it?
Replies: 11
Views: 1288

Re: Vanguard Annuity - what to do with it?

Just be aware that the older Transamerica annuities purchased at Vanguard have much higher annuitization guarantees than you can presently get, so if you plan to annuitize at any time in the future, you may want to hang on to it instead of doing a transfer to another annuity provider who will probably offer you a much lower annuity payout.
by Mel Lindauer
Fri Dec 29, 2023 3:48 pm
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2023 BOGLEHEAD CONTEST
Replies: 672
Views: 41000

Re: S&P prediction contest 2023

AnnetteLouisan wrote: Fri Dec 29, 2023 3:30 pm
Mel Lindauer wrote: Fri Dec 29, 2023 3:21 pm
AnnetteLouisan wrote: Mon Dec 18, 2023 9:49 pm
Mountain Doc wrote: Mon Dec 18, 2023 9:37 pm
AnnetteLouisan wrote: Mon Dec 18, 2023 8:53 pm Well, I’ll be. Look who’s in the front of the pack this year?

(Blows on drying fingernail polish)
Was your prediction that 260chrisb would win? :happy
90th out of 607 Bogleheads? AND institutional predictions? Not too shabby. I beat most of the major investment banks too, if you scroll down the list. And we still have ten days left.
I guess that means that my #57 standing is even better? :sharebeer
Let’s see - where’s the final list? Oh I see - it’s in the link. My standings improved to 74th!!! Who saw that coming?
This is one competition where everyone holding equities won.
Yes indeed, it was a very good year for those who owned Vanguard's Index 500 or Total Stock Market funds.
by Mel Lindauer
Fri Dec 29, 2023 3:30 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads' Guide to Investing (BOOK)
Replies: 16
Views: 2910

Re: The Bogleheads' Guide to Investing (BOOK)

JupiterJones wrote: Fri Dec 29, 2023 1:57 pm Funny you should mention it. I've been re-reading (maybe for the third time?) the book over the holidays.

Be nice to have an updated Third Edition one of these days!
If our publisher asks, Taylor and I would do the updating. However, the overall message doesn't change with new editions. Things like changes to tax laws, retirement contribution amounts, and distributions are things that need to be constantly updated because of changes in the laws, and those things will always happen, regardless of how often we update the book.
by Mel Lindauer
Fri Dec 29, 2023 3:21 pm
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2023 BOGLEHEAD CONTEST
Replies: 672
Views: 41000

Re: S&P prediction contest 2023

AnnetteLouisan wrote: Mon Dec 18, 2023 9:49 pm
Mountain Doc wrote: Mon Dec 18, 2023 9:37 pm
AnnetteLouisan wrote: Mon Dec 18, 2023 8:53 pm Well, I’ll be. Look who’s in the front of the pack this year?

(Blows on drying fingernail polish)
Was your prediction that 260chrisb would win? :happy
90th out of 607 Bogleheads? AND institutional predictions? Not too shabby. I beat most of the major investment banks too, if you scroll down the list. And we still have ten days left.
I guess that means that my #57 standing is even better? :sharebeer
by Mel Lindauer
Fri Dec 29, 2023 2:53 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads' Guide to Investing (BOOK)
Replies: 16
Views: 2910

Re: The Bogleheads' Guide to Investing (BOOK)

I recently picked up "The Bogleheads' Guide to Investing" book for my teenager. I gave this book to my daughter toward the end of college, when she expressed an interest in understanding how to invest. Since then, she has talked about it to a few of her age-cohort friends, and I've given them my copy each time. I have another copy on the shelf in my office, which I look at from time to time but I'm always happy to give it away and replace it. The financial logic and practical tools for self-discipline in the book are terrific. Giving it to a young person really arms him or her to parse the noise and anxiety floating around about investing. Thanks again to Mel, Taylor & Michael. You're most welcome. Giving the book to young fo...
by Mel Lindauer
Fri Dec 29, 2023 2:42 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads' Guide to Investing (BOOK)
Replies: 16
Views: 2910

Re: The Bogleheads' Guide to Investing (BOOK)

bobsmith wrote: Fri Dec 29, 2023 1:30 pm
Mel Lindauer wrote: Tue Dec 26, 2023 10:12 pm
Triple digit golfer wrote: Mon Dec 25, 2023 9:17 am That book is one of two that really helped catapult me into being a Boglehead. It is fantastic.

I'm so glad I came across this forum and made the effort to implement Boglehead principles years ago. Thanks to all for your part, no matter how big or small.
It's stories like yours that make our work so worthwhile. Thanks for posting it.
No, thank you! Is there a better place to buy the book than Amazon such that it's more profitable for you?
No, Amazon is fine, but thanks for asking.
by Mel Lindauer
Thu Dec 28, 2023 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2023 offer
Replies: 282
Views: 51707

Re: TurboTax 2023 offer

Has anyone seen any good deals on TT Home and Office?
by Mel Lindauer
Tue Dec 26, 2023 10:36 pm
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1239440

Re: I Bonds Before Dec. 31?

If I anticipate just one more purchase of two I Bonds (DW and I), does it matter if I complete the purchase prior to year end, or just complete the buy in January? Buy in Dec. You'll start the redemption clock running and you'll earn a full month's worth of interest. And you'll still have the 2024 purchase allowance available to you. Mel, This sounds like an arbitrage opportunity, since I can hold $10k in a MM fund for January and sell at the end of January to buy $10k in IBonds - effectively earning interest from two sources for that month. Am I missing something? That's why if you cash out I-bonds before holding them for 5 years, you'll lose 3 months of interest. I believe that's exactly to prevent people from heavily exploiting the arbi...
by Mel Lindauer
Tue Dec 26, 2023 10:14 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads' Guide to Investing (BOOK)
Replies: 16
Views: 2910

Re: The Bogleheads' Guide to Investing (BOOK)

BBBob wrote: Tue Dec 26, 2023 5:15 pm As I just posted elsewhere, I just finished "The Psychology of Money" by Morgan Hosel, and can't recommend it enough.

It fully resonated with everything I have learned on this site, and from experience, and pairs really well with the "how to" and "why" of "Four Pillars" (1 and/or2) and Larimore, et al.'s "Bogelheads' Guide" IMO by focusing on our human behavior and perceptions in these matters.
Sounds like you're getting a solid investing grounding based on the books you're reading.
by Mel Lindauer
Tue Dec 26, 2023 10:12 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads' Guide to Investing (BOOK)
Replies: 16
Views: 2910

Re: The Bogleheads' Guide to Investing (BOOK)

Triple digit golfer wrote: Mon Dec 25, 2023 9:17 am That book is one of two that really helped catapult me into being a Boglehead. It is fantastic.

I'm so glad I came across this forum and made the effort to implement Boglehead principles years ago. Thanks to all for your part, no matter how big or small.
It's stories like yours that make our work so worthwhile. Thanks for posting it.
by Mel Lindauer
Tue Dec 26, 2023 10:09 pm
Forum: Investing - Theory, News & General
Topic: The Bogleheads' Guide to Investing (BOOK)
Replies: 16
Views: 2910

Re: The Bogleheads' Guide to Investing (BOOK)

bobsmith wrote: Mon Dec 25, 2023 8:54 am While this forum and the Boglehead's wiki pages have offered me outstanding advice over the years (and I've referred many to come here), I recently picked up "The Bogleheads' Guide to Investing" book for my teenager. It's more thorough than I expected, and I doubt he'll read it front to back, but it's a great book and stands out in this world where the investing climate can often be described as predatory. Anyway, just wanted to give it a thumbs up and remind people it's out there. Could make for a late but great Christmas gift.
Thanks for the kind words about our first book. Let's hope your son reads and learns from the book so he can get started at a young age and enjoy the power of compounding.
by Mel Lindauer
Tue Dec 26, 2023 9:39 pm
Forum: Personal Consumer Issues
Topic: 3 days in Cuba in February
Replies: 11
Views: 1853

Re: 3 days in Cuba in February

Hopefully, you're not government employees with government IDs. Years ago, some friends of mine who were FAA air traffic controllers who were flying to Haiti were intercepted and arrested as spies because they flew too close to Cuba and had government IDs. Since we had no relations with Cuba at that time, they spent some time in prison. Eventually, the Swiss embassy arranged for their release.

Later, when I was flying through that part of the world, I gave Cuba a very wide berth. Let's hope relations have improved since then and that you enjoy your visit.
by Mel Lindauer
Mon Dec 25, 2023 10:25 pm
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1239440

Re: I Bonds Before Dec. 31?

If I anticipate just one more purchase of two I Bonds (DW and I), does it matter if I complete the purchase prior to year end, or just complete the buy in January? Buy in Dec. You'll start the redemption clock running and you'll earn a full month's worth of interest. And you'll still have the 2024 purchase allowance available to you. Mel, This sounds like an arbitrage opportunity, since I can hold $10k in a MM fund for January and sell at the end of January to buy $10k in IBonds - effectively earning interest from two sources for that month. Am I missing something? If you already had the money in a MM in Dec and you buy at the end of Dec., you've already enjoyed the arbitrage. Plus, you'l be able to buy another 10k per person in 2024. If y...
by Mel Lindauer
Mon Dec 25, 2023 7:05 pm
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1239440

Re: I Bonds Before Dec. 31?

JDSwim3 wrote: Mon Dec 25, 2023 7:01 pm If I anticipate just one more purchase of two I Bonds (DW and I), does it matter if I complete the purchase prior to year end, or just complete the buy in January?
Buy in Dec. You'll start the redemption clock running and you'll earn a full month's worth of interest. And you'll still have the 2024 purchase allowance available to you.
by Mel Lindauer
Sun Dec 24, 2023 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to lead a team that is older and more experienced that me
Replies: 40
Views: 5910

Re: How to lead a team that is older and more experienced that me

At 29, I had moved up the ranks fairly rapidly and was VP of a medium-sized company with many older department heads and workers. However, I respected them and let them know we all had to work together to make our company successful. I let them know what was expected of them and then let them execute, knowing I was available for any questions or problems. Things worked out well.
by Mel Lindauer
Sun Dec 24, 2023 4:53 pm
Forum: Investing - Theory, News & General
Topic: A Christmas Message
Replies: 140
Views: 14646

Re: A Christmas Message

Bogleheads: When we arrived in Bastogne, Belgium a few days before Christmas 1944, I was ordered to dig my foxhole in the front yard of a large house. I immediately started digging with my combination pickaxe and shovel until I had a 4 foot deep rectangular hole in which to fight and sleep. It was very cold and snowing. This was my home for nearly 3 weeks while the Germans encircled us. I soon learned that the house was the home of a prominent Belgian family named Steveler . I understand the house is still pock-marked with bullets and artillery damage which sheltered me from enemy gunfire. I befriended two Steveler children--a boy and a girl about 6 and 7 years old. Each morning they would bring me hot cocoa and a warm bun made in the cell...
by Mel Lindauer
Sun Dec 24, 2023 1:24 pm
Forum: Investing - Theory, News & General
Topic: A Christmas Message
Replies: 140
Views: 14646

Re: A Christmas Message

This Marine salutes his paratrooper partner-in-crime and wishes all the very best for the Christmas holidays and beyond for you and yours.

I'll see you in Miami next month the help celebrate your 100th.
by Mel Lindauer
Sun Dec 24, 2023 12:40 pm
Forum: Investing - Theory, News & General
Topic: The variable annuity advantage - holding bonds for high earners in high tax states
Replies: 46
Views: 4098

Re: The variable annuity advantage - holding bonds for high earners in high tax states

No need to make this so complicated. Invest in I Bonds which offer tax deferral for up to 30 years and are free from state and local taxes.
by Mel Lindauer
Sat Dec 23, 2023 1:34 pm
Forum: Personal Investments
Topic: Portfolio review - IBonds or?
Replies: 5
Views: 895

Re: Portfolio review - IBonds or?

You can also get $5000 in paper I Bonds per year via your income tax refund. This is a good way to avoid TD, if you wish to do so, since the paper I Bonds can be redeemed at some local banks and credit unions.
by Mel Lindauer
Mon Dec 18, 2023 12:35 am
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1239440

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Potentially an obvious question, but why one would even care about I-bonds if one can buy TIPs instead that do not have a $10k limit? I feel that for some $10k is not money "to care for" ie the amount is too small (again, for some people). With I Bonds, I'll never have to pay tax on earnings if I use it for my kids education expenses. I anticipate that I'll be under the income limit. Several additional features of I Bonds: 1. They're tax deferred for up to 30 years, so they can be used for tax shifting from when one is in a high tax bracket to a later time when the owner is in a lower tax bracket. 2. While TIPS can lose money if redeemed prior to maturity, I Bonds can never lose value and can be redeemed anytime between one and 3...
by Mel Lindauer
Mon Dec 18, 2023 12:18 am
Forum: Personal Investments
Topic: Can ibonds be cashed out to a 529 tax free?
Replies: 12
Views: 2468

Re: Can ibonds be cashed out to a 529 tax free?

I have ibonds that are now starting to decline in % interest. Can I sell them and then put that money into our 529 without being taxed? Ibonds I had purchased for myself and my wife: 10k Purchased 01-01-2022 10k Purchased 01-01-2022 10k Purchased 05-01-2022 10k Purchased 04-01-2022 (in gift box to be deliv 1/24) 10k Purchased 08-01-2022 (in gift box to be deliv 1/24) Yes, contributions to a 529 Plans are considered to be a qualifying educational expense if you meet the income limits. It's very important that to qualify for the tax-free use, the child cannot be an owner or co-owner (being a beneficiary is OK). In addition to these requirements/limitations, you must deposit ALL of the proceeds from the I Bond redemption in order to qualify.