Search found 295 matches

by Buffetologist
Mon Sep 18, 2017 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning advice for young parents in Massachusetts
Replies: 33
Views: 2482

Re: Estate planning advice for young parents in Massachusetts

The typical approach is for the child to be a trustee together with a co-trustee, but for the child not to have any power over distributions. Thanks bsteiner. That may well be exactly what the attorney recommended. Perhaps we had fears of unnecessarily making this more complex than it needed to be....
by Buffetologist
Sat Sep 16, 2017 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning advice for young parents in Massachusetts
Replies: 33
Views: 2482

Re: Estate planning advice for young parents in Massachusetts

... Our net worth is in the 8-9 million range ... ... The trust gives the surviving spouse the option to "disclaim" the marital share and create a credit shelter trust for estate tax purposes. This allows maximum flexibility depending on what the estate tax situation is at the time. Our thinking is...
by Buffetologist
Thu Sep 14, 2017 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning advice for young parents in Massachusetts
Replies: 33
Views: 2482

Re: Estate planning advice for young parents in Massachusetts

We live in MA. I am not an attorney, but I feel like I gave this a lot of thought. 20 years ago when our children were small, we did a joint living trust whose main purpose was to be the beneficiary of our life insurance policies so that the guardian of our children, who would also be successor trus...
by Buffetologist
Tue Sep 12, 2017 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card with large cash (or cash-equivalent) sign-up bonus
Replies: 25
Views: 2824

Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Not huge, but ELFCU has a $300 reward after only $1K of spend. Did this 2 months ago, no issues at all. Membership is easy ($5 Tru Direction membership fee). https://www.elements.org/credit-cards/ I'm a high net worth individual. I got rejected for membership in the credit union using TruDirection....
by Buffetologist
Fri Sep 08, 2017 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Paying 4 years tuition for college to get discount?
Replies: 22
Views: 2343

Re: Paying 4 years tuition for college to get discount?

A couple of key caveats. The money can't come from a 529 because only the expenses in the year of the payment will be qualified. I actually did this, and paid the lump sum with 529 money. 2 years later I got a letter from the IRS. My accountant sent a letter explaining the situation along with a co...
by Buffetologist
Thu Sep 07, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Paying 4 years tuition for college to get discount?
Replies: 22
Views: 2343

Re: Paying 4 years tuition for college to get discount?

A couple of key caveats. The money can't come from a 529 because only the expenses in the year of the payment will be qualified. Technically this is correct but there is a workaround if you have "extra money". And the workaround is that you use your own money to do the prepay, then withdraw from th...
by Buffetologist
Thu Sep 07, 2017 1:44 pm
Forum: Personal Consumer Issues
Topic: Need Advise On Getting to Patriots Game, Foxborough
Replies: 13
Views: 1062

Re: Need Advise On Getting to Patriots Game, Foxborough

I think getting advance tickets for the train is the way to go. By car, getting to the game is easy. Getting back - I've waited over 90 minutes to exit the parking lot after a concert. It was so late that the bars had closed so we had to go the the emergency room at a local hospital to find a rest r...
by Buffetologist
Thu Sep 07, 2017 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Paying 4 years tuition for college to get discount?
Replies: 22
Views: 2343

Re: Paying 4 years tuition for college to get discount?

I did this successfully and I think it was well worth it. I got tuition inflation after-tax (~3-4% per year) on money that would have otherwise been in cash or short-term bonds. A couple of key caveats. The money can't come from a 529 because only the expenses in the year of the payment will be qual...
by Buffetologist
Mon Aug 28, 2017 8:56 am
Forum: Investing - Help with Personal Investments
Topic: How to Model Variable Rate CD
Replies: 2
Views: 396

Re: How to Model Variable Rate CD

Any more ideas on how to model this CD within my fixed income portfolio?
by Buffetologist
Tue Aug 15, 2017 7:35 am
Forum: Investing - Help with Personal Investments
Topic: How to Model Variable Rate CD
Replies: 2
Views: 396

How to Model Variable Rate CD

There is a local bank near me offering an 18 month variable rate CD at 2.24%, and adjusts quarterly to be 1 year constant maturity treasury rate + 100 basis points. I'm trying to assess the merits of this CD vs a standard 2.00% fixed rate 2 year CD. It seems to me that the way to model it in a fixed...
by Buffetologist
Fri May 19, 2017 3:14 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: 81 Year Old Mother - Buying House to "Rent" to Her?
Replies: 23
Views: 2670

Re: Advice Needed: 81 Year Old Mother - Buying House to "Rent" to Her?

You should check out the following list of State Supervised Middle Income Housing for Seniors.

http://www.nyshcr.org/Programs/Mitchell ... pments.htm

These are often very affordable senior rentals. I'm more familiar with them in NYC, but they are statewide and often very good deals and very well maintained.
by Buffetologist
Tue May 16, 2017 7:01 am
Forum: Investing - Theory, News & General
Topic: Best argument you've heard against passive/for active?
Replies: 49
Views: 4708

Re: Best argument you've heard against passive/for active?

Having some active funds can make it easier to maintain a certain asset allocation while avoiding wash sales during tax loss harvesting. Active Vanguard bond funds make it easier to do tax efficient investing for bonds where one can replace treasuries with higher yielding CDs, and can separate muni ...
by Buffetologist
Mon Apr 17, 2017 12:37 pm
Forum: Investing - Help with Personal Investments
Topic: Form 709, Schedule A and Multiple Donees
Replies: 2
Views: 293

Re: Form 709, Schedule A and Multiple Donees

I found the Obama's return to be a very helpful example in doing my own.

http://i2.cdn.turner.com/cnn/2009/image ... 09revd.pdf
by Buffetologist
Sat Apr 15, 2017 10:19 am
Forum: Investing - Theory, News & General
Topic: Fidelity Inflation-Protected Bond Index Fund (FSIYX)
Replies: 10
Views: 1772

Fidelity Inflation-Protected Bond Index Fund (FSIYX)

I have some money in this fund in my 401K. I don't understand how the 30 day SEC yield can be 6.26% when they are holding 99.7% TIPS. Can anyone explain how to think about this? How can one determine if a TIPS Index fund has a positive real yield? I'm trying to improve my understanding of TIPS funds...
by Buffetologist
Tue Mar 28, 2017 5:06 am
Forum: Personal Finance (Not Investing)
Topic: Boston apartment hunting advice/can I afford a studio?
Replies: 48
Views: 4067

Re: Boston apartment hunting advice/can I afford a studio?

There are some studios under $1000 on craigslist. Watertown in a good location with parking included for $1000. I'd check out this one first. Somerville near Tufts $950 Lower Allston for $975 in a building. Probably a charge for parking, though there might be street parking. Waltham Everett A bunch ...
by Buffetologist
Mon Mar 13, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 51
Views: 3530

Re: Taxation of fellowship

Not a tax expert, so this help may be worth what you pay for it. I looked into this before my undergraduate did an REU (Research Experience for Undergraduates) last summer. From all of the posts around I've been reading, it's taxable scholarship from NSF but it's not earned income. They send a 1099-...
by Buffetologist
Thu Feb 23, 2017 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: BH thoughts on Time shares
Replies: 123
Views: 9703

Re: BH thoughts on Time shares

time shares I consider these words foul language and end any conversation abruptly and with offense taken as soon as one is offered to me. Pitch: "We'd like to offer you a free ....... You just have to attend a seminar on our time share" Translation: "We think you are a big fool and ...
by Buffetologist
Tue Jan 10, 2017 11:03 am
Forum: Personal Consumer Issues
Topic: Car purchase: Strategy for a car driven occasionally
Replies: 34
Views: 2261

Re: Car purchase: Strategy for a car driven occasionally

I can save you from my mistake. If you purchase a CPO from Mercedes, make sure it has less than 60,000 miles so that they are required to do a compression check. I bought one with just over 60K in 2008 and extended the dealer warranty out for 3 years. It consumed oil at about a quart per 1000 miles....
by Buffetologist
Sat Jan 07, 2017 9:36 am
Forum: Investing - Help with Personal Investments
Topic: AIG VALIC 403(b) - opinions anyone?
Replies: 25
Views: 14805

Re: AIG VALIC 403(b) - opinions anyone?

My MIL is a retired public school teacher and she has not annuitized so her VALIC plan is stuck compounding the guaranteed 4%. She takes the minimum required withdrawal. It's the best fixed income asset she has. She's quite healthy. This is what I call justice!
by Buffetologist
Wed Oct 26, 2016 8:11 am
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Paying Taxes if You're UHNW [Ultra High Net Worth]
Replies: 73
Views: 12169

Re: How to Avoid Paying Taxes if You're UHNW

I like this idea in principle, but the problem is that if you are holding bonds, it makes no sense to borrow against your stocks because the loans have to go as a negative amount into your bond portfolio for your overall allocation. Even endowment funds generally go 60-40 stocks-bonds. Is this inter...
by Buffetologist
Sat Sep 24, 2016 7:34 am
Forum: Investing - Theory, News & General
Topic: Extreme Maximization of College Financial Aid
Replies: 88
Views: 6092

Re: Extreme Maximization of College Financial Aid

This is a fool hardy exercise for children this young. We went through this, and by the time our kids were close to college, my wife and I were both so successful that we could pay out of current income. Taking a sufficiently lower paying job would have been more costly than college. We both had pos...
by Buffetologist
Tue Sep 20, 2016 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should we switch to Amica & increase our Homeowners/Umbrella coverage?
Replies: 11
Views: 1322

Re: Should we switch to Amica & increase our Homeowners/Umbrella coverage?

I've made several claims through AMICA, one quite large after Boston's snowpocalypse a few years back, and don't feel like they jerk me around but treat me with respect. I am a very happy customer. I have no idea if what I'm paying is competitive, because I don't care enough to check. That's how hap...
by Buffetologist
Wed Jul 20, 2016 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Boston Estate Planning Attorney
Replies: 0
Views: 750

Boston Estate Planning Attorney

While I've been looking for someone for a while, my safe with our estate planning documents was stolen. I really need to find someone who is willing to have an intelligent conversation with me to help me decide they are the one. Can anyone provide a recommendation or PM me with a recommendation. I n...
by Buffetologist
Wed Jul 20, 2016 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Citibank checking account
Replies: 32
Views: 6879

Re: Citibank checking account

We have filed a complaint against Citibank with CFPB. They did not pay my wife's $500 Citigold bonus on time. They say that it's coming and that shes entitled to it, but that they are having processing delays and they haven't yet paid. My wife and I were going to do the savings bonus with $300 bonu...
by Buffetologist
Wed Jul 20, 2016 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Citibank checking account
Replies: 32
Views: 6879

Re: Citibank checking account

We have filed a complaint against Citibank with CFPB. They did not pay my wife's $500 Citigold bonus on time. They say that it's coming and that shes entitled to it, but that they are having processing delays and they haven't yet paid. My wife and I were going to do the savings bonus with $300 bonu...
by Buffetologist
Wed Jul 20, 2016 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Citibank checking account
Replies: 32
Views: 6879

Re: Citibank checking account

We have filed a complaint against Citibank with CFPB. They did not pay my wife's $500 Citigold bonus on time. They say that it's coming and that shes entitled to it, but that they are having processing delays and they haven't yet paid. My wife and I were going to do the savings bonus with $300 bonu...
by Buffetologist
Sun Jul 17, 2016 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Citibank checking account
Replies: 32
Views: 6879

Re: Citibank checking account

We have filed a complaint against Citibank with CFPB. They did not pay my wife's $500 Citigold bonus on time. They say that it's coming and that shes entitled to it, but that they are having processing delays and they haven't yet paid. My wife and I were going to do the savings bonus with $300 bonus...
by Buffetologist
Sat Jul 09, 2016 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 7739

Re: Safe Stolen

Indeed, I am shopping for bolted down safes. The reason not to leave estate planning documents in a safe deposit box is that they get frozen when people die. This is why our lawyer wrote our trust saying that there were two originals of the trust. We keep one in the fire-proof box and one in the ba...
by Buffetologist
Fri Jul 08, 2016 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust Document Stolen
Replies: 11
Views: 1846

Re: Living Trust Document Stolen

I'm not sure how transferring title out of the trust helps to protect you. If you have no concerns about someone using your passports as ID to transfer title to your real property, then just create a new version of the Trust with the same date as the original. The original trust agreement is not a ...
by Buffetologist
Fri Jul 08, 2016 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 7739

Re: Safe Stolen

The combo was on the bottom of the safe, not visible without turning the safe on its back.
by Buffetologist
Fri Jul 08, 2016 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust Document Stolen
Replies: 11
Views: 1846

Re: Living Trust Document Stolen

So if property is titled to a trust dated June of 1995, and the trust is restated in 2016, how does the person who needs to see the trust know that the 1995 trust includes powers to change the trust without actually seeing that the original trust gives them those powers?
by Buffetologist
Fri Jul 08, 2016 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust Document Stolen
Replies: 11
Views: 1846

Re: Living Trust Document Stolen

The trust was a Nolo do-it yourself trust and owns only the following items - Personal Property in our home and condo- we executed a letter in front of a notary (which of course was in the safe). So that is for all intents and purposes, no longer in the trust - A mutual fund - they said that we can ...
by Buffetologist
Thu Jul 07, 2016 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 7739

Re: Safe Stolen

Indeed, I am shopping for bolted down safes.

The reason not to leave estate planning documents in a safe deposit box is that they get frozen when people die.
by Buffetologist
Thu Jul 07, 2016 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 7739

Re: Safe Stolen

I have AMICA. They are especially unusual in that for over 20 years, they have always acted in good faith with me as I have with them. I have no doubt that they will take care of me.

They took a TV too.
by Buffetologist
Thu Jul 07, 2016 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Credit Monitoring Service Recommendations
Replies: 3
Views: 395

Re: Credit Monitoring Service Recommendations

They are in the processes of getting new accounts opened to replace the ones with the stolen checks. Those may require credit checks. It's probably better for now to monitor credit closely and report any unauthorized attempts to pull credit reports. They have online access where they are traveling.
by Buffetologist
Thu Jul 07, 2016 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Credit Monitoring Service Recommendations
Replies: 3
Views: 395

Credit Monitoring Service Recommendations

Wife and I currently have Experian Triple advantage, and then just after we renewed it, our government gave us MyIDCare for free because of the Office of Personnel Management breach. We need to purchase credit monitoring for our adult kids because our safe with all of their personal information was ...
by Buffetologist
Thu Jul 07, 2016 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust Document Stolen
Replies: 11
Views: 1846

Re: Living Trust Document Stolen

Trust was do-it yourself, but had real estate attorney look it over when we bought the condo and he made some good suggestions. We were going to restate it shortly now that our kids are adults but hadn't yet.
by Buffetologist
Thu Jul 07, 2016 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Living Trust Document Stolen
Replies: 11
Views: 1846

Living Trust Document Stolen

The only signed copy of our Revocable Living Trust Document was stolen. I have an unsigned electronic versions of text. Trust contained - 1 mutual fund - That seems easy to convert to joint ownership. - 1 condominium - that seems harder, attorney who handled deed transfer may have copy of trust - Al...
by Buffetologist
Thu Jul 07, 2016 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Safe Stolen
Replies: 56
Views: 7739

Safe Stolen

Looking for advice, not criticism. This is hard, please be kind. I had all of our documents in our fireproof home safe. That safe was stolen. Police determined thief had key. Could be cleaning folks, contractors. The fallout seems to be a cluster. Safe was for fireproofing documents, not for securit...
by Buffetologist
Sat Apr 30, 2016 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

You know what? I've gone through the literature on Stable Value, and I've come to the conclusion that I simply don't have faith in viability of the life insurance industry in the face of low rates, Period. Just say no I say. All of these restrictions and rules and disclaimers yet I have no idea exac...
by Buffetologist
Wed Apr 27, 2016 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

The Stable Value Summary under Risk says "The fund is backed by a diversified portfolio of fixed-income assets held in the general account of the issuer. Guarantees are subject to the claims paying ability of the issuer. Restrictions or fees may apply to exchanges or withdrawals. The Contracts ...
by Buffetologist
Wed Apr 27, 2016 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

FillorKill - Once again, thank you for your insight. It's quite illuminating. I like the way you think. So basically, I should increase duration without increasing mortgages, and I can probably afford a little more credit risk. At 0.18 I'm completely dominated by full-faith and credit of the USA. I ...
by Buffetologist
Wed Apr 27, 2016 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

Ex-ante it is most reasonable to assume that the extra yield is sufficient compensation for the additional risks. Attempting to make an active decision based on your assessment of the pricing of that risk is what I believe Valuethinker was warning you off of. Understanding the risks you assume and ...
by Buffetologist
Wed Apr 27, 2016 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

Vanguard shows GNMA fund SEC of 2.37 and negative con exits as mentioned previously. Why not use stable value fund? My 401K is with Fidelity, so Vanguard is not an option for those funds. Perhaps I'm misunderstanding, but stable value is guaranteed by the claims paying ability of MetLife. Unlike GN...
by Buffetologist
Wed Apr 27, 2016 7:59 am
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

Everything I've quoted for funds is the SEC yield minus, for taxable stuff, my tax cost.

Valuethinker, are you saying that there is no reason for me to be in GNMA vs treasuries and that the extra yield to compensate for the negative convexity isn't really compensating me?
by Buffetologist
Tue Apr 26, 2016 8:48 am
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Re: Critique Fixed Income Strategy - GNMA Dominance

However, I am aware that I am being compensated in the GNMA for the negative convexity of mortgages. I don't know how to factor that into the selection. Consider it compensation for the increased duration volatility that the negative convexity creates. Thanks for your reply. Interesting concept - d...
by Buffetologist
Tue Apr 26, 2016 7:11 am
Forum: Investing - Help with Personal Investments
Topic: Critique Fixed Income Strategy - GNMA Dominance
Replies: 29
Views: 3356

Critique Fixed Income Strategy - GNMA Dominance

Looking for some insightful critique beyond mantras like "Keep it simple" or that I'm "overthinking". I like overthinking. So I'm looking at my fixed income portfolio. Can't list the whole thing, but just looking at my dominant options I keep coming up with the notion that the Fi...
by Buffetologist
Mon Apr 25, 2016 10:58 am
Forum: Investing - Theory, News & General
Topic: Deflation ahead? Nobel Prize Economics winner's thought
Replies: 84
Views: 10213

Re: Deflation ahead? Nobel Prize Economics winner's thought

I just read the entire thread. It was a respectful conversation and I enjoyed it very much. For what it's worth, it was a net positive in the discussion. It definitely provides food for thought and perhaps encourages a little lengthening of fixed income portfolio duration. I'm currently at 2.5 years...
by Buffetologist
Fri Apr 22, 2016 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Book Recommendation Needed -- Trusts & Estates
Replies: 6
Views: 825

Re: Book Recommendation Needed -- Trusts & Estates

I like Plan Your Estate by Dennis Clifford. He's written most of the Nolo books on estate planning. We've used his book on living trusts to write our living trust and our wills. You can find a bunch of his books at the library.