Search found 1069 matches

by FIREchief
Sat Aug 19, 2017 1:09 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 183
Views: 14718

Re: Lost $7000 today in ONE DAY!

whodidntante wrote:
Fri Aug 18, 2017 11:39 pm
abuss368 wrote:
Fri Aug 18, 2017 10:39 pm
As Warren Buffett noted during the financial crisis "things are on sale".
I don't hear him saying that right now.
Don't you remember those black Friday 1.5% off sales that had people lining up at the doors rather than sleeping off their Thanksgiving dinners?
by FIREchief
Sat Aug 19, 2017 1:06 am
Forum: Investing - Help with Personal Investments
Topic: How do you know how much your portfolio lost/gain in one day?
Replies: 31
Views: 1406

Re: How do you know how much your portfolio lost/gain in one day?

Fidelity's website shows me how much more or less I would have if I had sold everything prior to today's market close. Unfortunately/fortunately, this is merely historical data and tells me nothing about how much more or less I will have if I sell everything prior to tomorrow's market close (which I...
by FIREchief
Fri Aug 18, 2017 10:05 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

If you can't lose, than how can you gain? What is your net-worth? Just the cash in your bank account? I'd rather lose $100K in a market fluctuation than in a robbery, as my odds of getting it back are much higher, but how can you possibly not consider it a real, material loss? Because historically ...
by FIREchief
Fri Aug 18, 2017 6:33 pm
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 183
Views: 14718

Re: Lost $7000 today in ONE DAY!

indexonlyplease wrote:
Fri Aug 18, 2017 2:10 pm
stocks down yesturday and today. Does that mean time to buy more?
It might. We'll let you know tomorrow! LOL
by FIREchief
Fri Aug 18, 2017 2:59 am
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9272

Re: Anyone planning on never retiring?

She is a LCSW so she was not surprised and saw it coming, she deals with retiree issues often in her practice. His identity was tied to work. What the heck is an "LCSW?" :confused If somebody's identity is "tied to work," then they REALLY need to retire and find out what life is really all about.
by FIREchief
Fri Aug 18, 2017 2:52 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

It's not a matter of "feeling" a need to mark to market; it's the cold logic of what the market does for you. To behave otherwise is to try to live in an alternate reality; unfortunately, it can be a difficult realization when that imagined reality is shown to be inconsistent with true reality. Jus...
by FIREchief
Fri Aug 18, 2017 12:23 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

If you can't lose, than how can you gain? What is your net-worth? Just the cash in your bank account? I'd rather lose $100K in a market fluctuation than in a robbery, as my odds of getting it back are much higher, but how can you possibly not consider it a real, material loss? Because historically ...
by FIREchief
Thu Aug 17, 2017 11:07 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

If you can't lose, than how can you gain? What is your net-worth? Just the cash in your bank account? I'd rather lose $100K in a market fluctuation than in a robbery, as my odds of getting it back are much higher, but how can you possibly not consider it a real, material loss? Because historically ...
by FIREchief
Thu Aug 17, 2017 10:51 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

People really did lose a lot of money today, because one must mark to market. That is different from changing one's allocation or market timing, of course. It's like going to Vegas. You buy your chips and play for however much time. You know that you won't win every hand, and unless you do somethin...
by FIREchief
Thu Aug 17, 2017 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9272

Re: Anyone planning on never retiring?

I know that not everyone gets the job they love. I just try to tell young people to get a job they will enjoy and get satisfaction from. Depending upon which young person you're talking to, this could range from good advice to awful advice. Not to pick on musicians, but I have known several young p...
by FIREchief
Thu Aug 17, 2017 10:33 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

You mean early in the accumulation phase? :mrgreen: Deep in the phase you have a lot of money you really don't want to lose. What's this talk about losing money? I was 100% equities for several decades and, despite two huge "crashes," I never lost a dime. :confused Not true; we buy our portfolios e...
by FIREchief
Thu Aug 17, 2017 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 183
Views: 14718

Re: Lost $7000 today in ONE DAY!

Isn't this more like "lost and found?" If the money shows up tomorrow, or next week or next month; has anybody really lost anything? :confused
by FIREchief
Thu Aug 17, 2017 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9272

Re: Anyone planning on never retiring?

I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday. I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work. Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open ...
by FIREchief
Thu Aug 17, 2017 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9272

Re: Anyone planning on never retiring?

I get no self-worth or satisfaction out of my job or working. I would happily retire yesterday. I enjoy my holidays and weekends so much more. I have much better things to do with my free time than work. Unfortunately, gotta work long enough to retire, as I haven't found a way otherwise. (I'm open ...
by FIREchief
Thu Aug 17, 2017 5:58 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

azanon wrote:
Thu Aug 17, 2017 3:29 pm
You mean early in the accumulation phase? :mrgreen: Deep in the phase you have a lot of money you really don't want to lose.
What's this talk about losing money? I was 100% equities for several decades and, despite two huge "crashes," I never lost a dime. :confused
by FIREchief
Thu Aug 17, 2017 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: quick estate question
Replies: 56
Views: 2628

Re: quick estate question

westrichj312 wrote:
Thu Aug 17, 2017 4:30 pm
We choose to follow the law and not pay anything we are not legally required to pay - LOL!!!
:confused When I pass away, I want all legit bills paid in full in a timely manner. Who wouldn't?
by FIREchief
Thu Aug 17, 2017 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9272

Re: Anyone planning on never retiring?

A friend of mine retired at age 62. She told me before she retired that she was afraid of retiring because all of her retired friends became "stupid" once they retired. I've experienced the opposite. My brain works better since leaving Megacorp because there is so much less "noise" in there. Nothin...
by FIREchief
Wed Aug 16, 2017 12:53 am
Forum: Investing - Theory, News & General
Topic: Market timing alert !!
Replies: 24
Views: 4466

Re: Market timing alert !!

Sweet!! Five responses and not a serious one in the bunch! 8-)

(apologies to S17C, that may have been a sincere response)
by FIREchief
Tue Aug 15, 2017 9:33 pm
Forum: Investing - Theory, News & General
Topic: Market timing alert !!
Replies: 24
Views: 4466

Re: Market timing alert !!

prettybogle wrote:
Tue Aug 15, 2017 9:21 pm
Today, We bought $10,000 worth of vgtsx, total international index. Red alert - There will be significant correction to the downside very soon :D :D
Well then. I sold $20,000 of VGTSX today and moved it into cash. So, expect great things!! :P
by FIREchief
Tue Aug 15, 2017 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Kitchen Remodel Price/Contractor Dispute
Replies: 33
Views: 3186

Re: Kitchen Remodel Price/Contractor Dispute

dabretty wrote:
Tue Aug 15, 2017 12:47 pm
Now that the project is complete, this company is telling us that we've paid them $500 too little.
How could you not have a formal, written price before the job was even started (let alone "complete.") This sounds a lot like "cost plus" government contracting with defense contractors. :annoyed
by FIREchief
Tue Aug 15, 2017 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund at Vanguard or elsewhere?
Replies: 42
Views: 2960

Re: Donor advised fund at Vanguard or elsewhere?

If you compare the all-in costs for those keeping small balances in short-term investment vehicles, the fees at Fidelity start really adding up in percentage terms (though still cheap in absolute dollar terms). Which do you use to pay your rent? Percentages or "absolute dollars?" Just sayin.... 8-)
by FIREchief
Tue Aug 15, 2017 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund at Vanguard or elsewhere?
Replies: 42
Views: 2960

Re: Donor advised fund at Vanguard or elsewhere?

I don't think anyone would put all of their money in a total market index fund because of the volatility (why would someone risk losing 50%?) but you might invest in a bond fund despite the relatively the long duration (you might be donating most assets within the year but the duration of the total...
by FIREchief
Mon Aug 14, 2017 9:10 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

sreynard wrote:
Mon Aug 14, 2017 3:39 pm
sco wrote:
Mon Aug 14, 2017 3:28 pm
This FreeFalling makes me happy :)
It doesn't make me happy. Do you get happy when the price of gasoline goes up too? :confused
I spent decades buying gas and stocks every week or two. I was happy when either one went on sale. 8-)
by FIREchief
Mon Aug 14, 2017 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund at Vanguard or elsewhere?
Replies: 42
Views: 2960

Re: Donor advised fund at Vanguard or elsewhere?

Fidelity offers a lot of good things with the DAF: low account minimums and low grant minimums. However, their fees can be substantial if you don't watch them carefully. A typical "problem" might be an average $5,000 annual balance--which prompts a $100 annual administrative fee (2%)--and investing...
by FIREchief
Mon Aug 14, 2017 3:26 pm
Forum: Investing - Help with Personal Investments
Topic: SP500/Total Stock Market
Replies: 23
Views: 1432

Re: SP500/Total Stock Market

S&P500 has nearly tripled since bottom in 2009. Of course, since late 2007 it doesn't look so great, taking into account dividends though you should S&P 500 total return from late 2007 until now (i.e. 10 year return) has been close to 8% (as measured by FUSVX total return). I wouldn't say that "doe...
by FIREchief
Sun Aug 13, 2017 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

I am a California lawyer, and even though it kills me that I can't get someone to do it for me for free, I just pay for my will and trust. Seen too many car crashes with diy in this area. Just to clarify, I don't think $3200 is too much to pay for a robust and meaningful estate plan. My concern is ...
by FIREchief
Sun Aug 13, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund at Vanguard or elsewhere?
Replies: 42
Views: 2960

Re: Donor advised fund at Vanguard or elsewhere?

I'm not sure what you mean by not obvious. They don't hide the fees. https://www.fidelitycharitable.org/giving-account/what-it-costs.shtml I was referring to the fees associated with each specific investment option. Your link doesn't provide that. The administrative fee is bad, and if you choose a ...
by FIREchief
Sun Aug 13, 2017 4:15 pm
Forum: Investing - Theory, News & General
Topic: My (general) contacts with Treasury Direct re loss & liability
Replies: 14
Views: 1836

Re: My (general) contacts with Treasury Direct re loss & liability

OP - thanks for starting this thread. I'm shocked by what I've read so far. Fortunately, I no longer hold any EE or I bonds, and my individual treasuries are held at my brokerage. Scary stuff.
by FIREchief
Sun Aug 13, 2017 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Health Savings Account
Replies: 37
Views: 3630

Re: Health Savings Account

The obvious workaround that many of us have integrated into estate planning is to leave the HSA to a charity. If you're going to have philanthropic beneficiaries in your will anyway, you may as well leave your HSA to them since THEY won't be taxed on the balance the same way a non-spouse would be t...
by FIREchief
Sat Aug 12, 2017 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Health Savings Account
Replies: 37
Views: 3630

Re: Health Savings Account

Once you contribute enough to get employer's full IRA match, I view HSA contributions as preferable to both tIRA and Roth. +1 Without a shadow of a doubt. The only potential drawbacks of an HSA over a TIRA are that you must be 65 before you can withdraw funds for non-medical expenses without a pena...
by FIREchief
Sat Aug 12, 2017 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

... ... Last year the Senate Finance Committee unanimously passed a provision that would eliminate the lifetime stretch for inherited retirement assets. If that makes it into law, then the conduit trust would do nearly nothing. Beneficiaries would be forced to take all the money out over a short ti...
by FIREchief
Sat Aug 12, 2017 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

... A conduit trust forces the RMDs to be paid out to the beneficiary(s) as they are withdrawn from the inherited IRAs. An accumulation trust allows some or all of the RMDs to be retained within the trust. Since a conduit trust forces a stream of payouts, it doesn't provide robust asset protection....
by FIREchief
Sat Aug 12, 2017 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

... I don't think $3200 is too much to pay for a robust and meaningful estate plan. My concern is that the lawyer selling this to the OP apparently is not familiar with qualified retirement plan trusts and may just be selling a "turn the crank" boilerplate A/B trust. I've encountered several such "...
by FIREchief
Sat Aug 12, 2017 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

... Perhaps the most ideal approach is to maximize Roth conversions so that RMDs held (accumulated) within the trust do not generate significant tax liabilities for the trust. ... the first-to-die spouse could leave a meaningful amount of retirement plan assets directly to your child (in trust) so ...
by FIREchief
Sat Aug 12, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

Glad you weighed in Bruce. ... Did she mention a separate trust specifically to receive these qualified retirement plan assets? If she is unfamiliar with such trusts, then you need to find a better attorney. You've assumed that the original poster and his wife are providing for their daughter in tru...
by FIREchief
Sat Aug 12, 2017 4:44 pm
Forum: Investing - Theory, News & General
Topic: "3 Reasons Index Investors Deserve Perdition (or Not)"
Replies: 3
Views: 793

Re: "3 Reasons Index Investors Deserve Perdition (or Not)"

He lost me at "recently they have been joined by some academic researchers." I'm not sure if I'm in the majority or minority here, but the very term "academic researcher" raises my level of skepticism. If academic research occurs in a true science, sure, I'll defer to their expertise. Investing ain'...
by FIREchief
Sat Aug 12, 2017 4:39 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 3801
Views: 997987

Re: U.S. stocks in freefall

I once heard a saying that "you know you are in a bull market when there is a feeling of pain and disbelief among investors; disbelief of how much the market has gone up and pain that they've had a lot of money sitting on the sideline." Glad to hear from several posters that we're still in a bull ma...
by FIREchief
Sat Aug 12, 2017 12:09 am
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

It would seem that if the RMD amounts were low enough not to trigger high tax rates in an accumulation trust then the RMD amounts wouldn't be high enough to be a "material" risk for a conduit trust - lets say $10,000 per year for instance. Most likely the $10k distribution would be spent by benefic...
by FIREchief
Fri Aug 11, 2017 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

FireChief, The key risks we would like to address are: - Protection from creditors and legal judgements. - Protection for DD in case a future spouse pressures her to use these assets (low risk at this point) Not very concerned that either DW or DD would blow the money, they are both smart, capable ...
by FIREchief
Fri Aug 11, 2017 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

It seems like conduit trust offers less protection but the accumulation trust offers less favorable tax treatment upon distribution. Obviously I have a lot to learn about this. The only difference with tax treatment is that RMDs accumulated within the trust (rather than being immediately distribute...
by FIREchief
Fri Aug 11, 2017 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund at Vanguard or elsewhere?
Replies: 42
Views: 2960

Re: Donor advised fund at Vanguard or elsewhere?

0.6% still feels steep to me but since Vanguard's offering is the same it seems this is just the best the market has to offer. I do enjoy the convenience of donating appreciated securities from my Fidelity account and making donations online to any charity. Also: choose carefully when selecting you...
by FIREchief
Fri Aug 11, 2017 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Can a salaried employee be docked pay...
Replies: 33
Views: 3269

Re: Can a salaried employee be docked pay...

My old megacorp's interpretation was that if a salaried employee put in any portion of a day at work, the FLSA required they be paid for the entire day. So, in OP's situation, sick employee should have dragged their sick behind into work and immediately told the boss they were going home sick. Corpo...
by FIREchief
Fri Aug 11, 2017 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

It seems like conduit trust offers less protection but the accumulation trust offers less favorable tax treatment upon distribution. Obviously I have a lot to learn about this. The only difference with tax treatment is that RMDs accumulated within the trust (rather than being immediately distribute...
by FIREchief
Fri Aug 11, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund at Vanguard or elsewhere?
Replies: 42
Views: 2960

Re: Donor advised fund at Vanguard or elsewhere?

Thanks for the info & insights everyone. This makes sense and also means I shouldn't worry about trying to time my contributions/grants to avoid the admin fee. 0.6% still feels steep to me but since Vanguard's offering is the same it seems this is just the best the market has to offer. I do enjoy t...
by FIREchief
Fri Aug 11, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

It does not sound like the DIY approach is appropriate for the OP. But before deciding, I suggest you do what many of us bsteiner groupies do: Search for and read all his posts. There is a tremendous amount of expert information, explained for a lay readership. Much easier going than Choate's book....
by FIREchief
Fri Aug 11, 2017 3:47 am
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

In our last update of wills and trusts a couple of years ago the trust document was revised to include "benefits trusts" designed to receive retirement plan assets if both me and spouse die prematurely. Are those "benefits trusts" conduit trusts or accumulation trusts? No idea. I have no idea what ...
by FIREchief
Fri Aug 11, 2017 1:52 am
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

JBTX wrote:In our last update of wills and trusts a couple of years ago the trust document was revised to include "benefits trusts" designed to receive retirement plan assets if both me and spouse die prematurely.
Are those "benefits trusts" conduit trusts or accumulation trusts?
by FIREchief
Fri Aug 11, 2017 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

Bruce Steiner has also written about trusts for retirement accounts and does post here regularly. I also found this good article recently: https://www.forbes.com/sites/deborahljacobs/2014/09/04/iras-and-trusts-what-you-need-to-know/#57c76170172b That Forbes article is a pretty good introduction to ...
by FIREchief
Fri Aug 11, 2017 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3899

Re: Do I really need a trust?

I am a California lawyer, and even though it kills me that I can't get someone to do it for me for free, I just pay for my will and trust. Seen too many car crashes with diy in this area. Just to clarify, I don't think $3200 is too much to pay for a robust and meaningful estate plan. My concern is ...