Search found 4008 matches

by Levett
Mon May 22, 2017 9:50 am
Forum: Personal Consumer Issues
Topic: Need advice from FF miles experts
Replies: 12
Views: 481

Re: Need advice from FF miles experts

If you can find relatively inexpensive fares for shorter haul flights, I agree that hoarding for overseas flights that you intend to take makes a lot of sense.

Lev
by Levett
Sun May 21, 2017 7:07 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 2673
Views: 729765

Re: What Movie Have You Recently Watched?

HBO movie--"The Wizard of Lies" (Bernie Madoff). Instructive. Fine work by De Niro.

Lev
by Levett
Fri May 19, 2017 12:08 pm
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 17911

Re: Why save so much for when you're old?

PJW nailed it!

"I am grateful to my younger self for making a set of financial decisions that have rendered my life easier, although not more luxurious, today. It's almost like receiving an inheritance, but nobody had to die in order for it to happen."

God bless. :D

Lev
by Levett
Wed May 17, 2017 7:19 pm
Forum: Personal Consumer Issues
Topic: should I tip repairman for TV?
Replies: 27
Views: 1514

Re: should I tip repairman for TV?

It's his job.

How did Americans become so dependent on tips?

It's absurd.

Lev
by Levett
Wed May 17, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees afraid to spend? (Bloomberg)
Replies: 47
Views: 2326

Re: Rich Retirees Are Hoarding Cash Out of Fear

There's another thread about this. You might look for it (or maybe it was locked, come to think of it).

It's only "actionable" for those of us who like to spend (prudently, of course!). :wink:

Lev
by Levett
Tue May 16, 2017 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees afraid to spend? (Bloomberg)
Replies: 47
Views: 2326

Re: Retirees afraid to spend? (Bloomberg)

I must be hanging out with the wrong crowd of retirees. I see no reluctance to spend. ;-)

Lev

P.S. A lot of this ground was recently covered by Meir Statman in a Wall Street Journal article, "The Mental Mistakes we make with Retirement Spending."
by Levett
Mon May 15, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Renting a small apartment vs buying a bigger home
Replies: 26
Views: 1406

Re: Renting a small apartment vs buying a bigger home

"Thoughts?"

Yes. Never underestimate happiness.

Lev
by Levett
Sat May 13, 2017 1:10 pm
Forum: Investing - Theory, News & General
Topic: "The long run is only longer than the short run, not safer"
Replies: 37
Views: 3293

Re: "The long run is only longer than the short run, not safer"

Random Walker observed: "I strongly believe we anchor on the highest value of our portfolios and the current value is always at risk." Sure seems that way. Any reader of Zwecher's book should look at his comments on "Murphy's Law of Timing Retirement." Now might be an especially ...
by Levett
Sun May 07, 2017 7:00 pm
Forum: Personal Consumer Issues
Topic: sump pump issue
Replies: 13
Views: 1294

Re: sump pump issue

SpringMan wrote:

"a water driven backup pump may be a better solution than a battery backup."

Couldn't agree more.

Lev
by Levett
Wed May 03, 2017 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Downsizing to Apartment
Replies: 25
Views: 3529

Re: Downsizing to Apartment

Wow.

For just an instant I thought sscritic was back.

Disappointed, for sure.

Lev
by Levett
Tue May 02, 2017 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Real Estate vs CREF Equity Index
Replies: 61
Views: 3103

Re: TIAA Real Estate vs CREF Equity Index

Page 11 current prospectus of TIAA Real Estate:

2008 -14.15%

2009 -27.64%

Assets were chopped in half, as I recall.

Lev
by Levett
Mon May 01, 2017 6:23 am
Forum: Local Chapters and Bogleheads Community
Topic: John Bogle's Legacy!
Replies: 19
Views: 2831

Re: John Bogle Will Pass Away Someday.

John Bogle will continue to teach us much about life (not just finance) for many years after he, like us, has moved on.

As long as he is not forgotten, he is alive, just as we will be in the eyes of those who care about us.

Lev
by Levett
Sun Apr 30, 2017 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Dealing with regret
Replies: 102
Views: 8608

Re: Dealing with regret

You are 40. By my lights, you are still a young person. It's easy--much too easy-- for any of us to say "get over it," despite the fact that we likely have some regrets. You've done well by facing up to your major regret. My advice: read up, as widely as you have time for, on regret and co...
by Levett
Wed Apr 26, 2017 6:23 pm
Forum: Investing - Theory, News & General
Topic: "When Holding is the Hardest Part"
Replies: 10
Views: 1656

Re: "When Holding is the Hardest Part"

Mr. Carson writes: "The obvious answer for most investors is to set a reasonable asset allocation, rebalance on occasion, and mostly do nothing the rest of the time. Holding can still become an issue with this strategy if you don’t set the correct allocation ahead of time or if you don’t have t...
by Levett
Tue Apr 25, 2017 4:36 am
Forum: Investing - Help with Personal Investments
Topic: understanding TIAA-CREF
Replies: 22
Views: 1439

Re: understanding TIAA-CREF

TIAA on "contingency reserves"-- " As an insurance company, TIAA is required to maintain contingency reserves to ensure that it will be able to fulfill its contractual obligations to policyholders, even in the face of unexpected adverse circumstances. However, to the extent that these...
by Levett
Tue Apr 25, 2017 4:30 am
Forum: Investing - Theory, News & General
Topic: Is AA steady state, or unsteady state?
Replies: 14
Views: 1044

Re: Is AA steady state, or unsteady state?

One's AA, like one's life, is only "steady state" in the Great Beyond.

Lev
by Levett
Mon Apr 24, 2017 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: understanding TIAA-CREF
Replies: 22
Views: 1439

Re: understanding TIAA-CREF

Actually, TIAA has an illustration that does not support the notion about the irrelevance of the amount of time invested, at least with respect to annuitants. https://www.tiaa.org/public/offer/products/annuities/retirement-plan-annuities/tiaa-traditional-annuity Scroll down to the link, "See mo...
by Levett
Mon Apr 24, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 19638

Re: Any regrets living a frugal life for high income/high networth individuals?

Meir Statman addresses the issue (for retirees) in today's Wall Street Journal ("The Mental Mistakes We Make with Retirement Spending"):

http://trueviralnews.com/the-mental-mis ... -spending/

Lev
by Levett
Sun Apr 23, 2017 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Why are pensions revered, but annuities reviled?
Replies: 113
Views: 9697

Re: Why are pensions revered, but annuities reviled?

naraicjul asked: " Can anyone point me to decent research papers comparing the merits of SPIAs with self-managed alternatives (using bonds, etc.)?" Yes, I can (with the proviso that every point of view, including my own, will have some stated and/or unstated behavioral bias because we are ...
by Levett
Sat Apr 22, 2017 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Why are pensions revered, but annuities reviled?
Replies: 113
Views: 9697

Re: Why are pensions revered, but annuities reviled?

And the OP might wish to read the original link of this thread.

viewtopic.php?t=214931

Lev
by Levett
Sat Apr 22, 2017 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Why are pensions revered, but annuities reviled?
Replies: 113
Views: 9697

Re: Why are pensions revered, but annuities reviled?

gd wrote:

"This is a DIY crowd."

Yep.

And it leads, inevitably, to adopting some strategies/products and rejecting others.

Lev
by Levett
Sat Apr 22, 2017 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Why are pensions revered, but annuities reviled?
Replies: 113
Views: 9697

Re: Why are pensions revered, but annuities reviled?

I don't think the OP missed anything. His query clearly identifies SPIAs--e.g., " It seems to me that upon retirement, converting some portion of your retirement account into an single-premium immediate annuity (SPIA) is for all practical purposes the same thing as retiring with a pension."...
by Levett
Mon Apr 03, 2017 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Did you and your spouse have different opinions on retirement income need?
Replies: 31
Views: 2493

Re: Did you and your spouse have different opinions on retirement income need?

No friction. Independent careers. Retirement at different times. His, hers, ours. Ain't rational love grand?! :happy

Lev
by Levett
Mon Apr 03, 2017 10:32 am
Forum: Investing - Help with Personal Investments
Topic: Annuities the answer for correctly timing transition to retirement?
Replies: 89
Views: 4092

Re: Annuities the answer for correctly timing transition to retirement?

nedsaid wrote: " One reason that Single Premium Immediate Annuities are a good tool in the toolbox is that they take pressure off the remaining portfolio. Research shows that annuitizing part of a portfolio reduces the risk of exhausting a portfolio in retirement. Depending on the age you take ...
by Levett
Sun Apr 02, 2017 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Annuities the answer for correctly timing transition to retirement?
Replies: 89
Views: 4092

Re: Annuities the answer for correctly timing transition to retirement?

Taylor wrote: "It is true that most annuities are poor investments. However, most authorities agree that a low-cost Single Premium Life Income Annuity can be an excellent investment. They provide the highest guaranteed lifetime income of any investment." Speaking, respectfully, as a (parti...
by Levett
Fri Mar 31, 2017 10:20 am
Forum: Personal Consumer Issues
Topic: Health Insurance two states NY and NM
Replies: 8
Views: 686

Re: Health Insurance two states NY and NM

Another vote for Presbyterian. Almost a year ago had a family emergency while visiting. The EMT guys, in particular, were just great.

Lev
by Levett
Tue Mar 28, 2017 1:02 pm
Forum: Investing - Theory, News & General
Topic: Illusion of poverty/wealth
Replies: 159
Views: 20663

Re: Illusion of poverty/wealth

Re "practical solutions," I tried to call attention to the "solution" the authors proposed, which has been used by TIAA for many years. Here's more from the authors from the same passage: "For the past several years, bipartisan legislation has been pending in Congress that w...
by Levett
Tue Mar 28, 2017 9:58 am
Forum: Investing - Theory, News & General
Topic: Illusion of poverty/wealth
Replies: 159
Views: 20663

Re: Illusion of poverty/wealth

To me, the most salient point in the article is the following: "There is an easy fix for these two illusions. Instead of highlighting only total wealth, financial websites and apps should help people focus on their projected monthly income, too. It’s this amount, after all, that puts our wealth...
by Levett
Mon Mar 27, 2017 6:53 pm
Forum: Investing - Theory, News & General
Topic: Bogle Interview CNN - Sat.
Replies: 71
Views: 5150

Re: John Bogle interview: is "deep risk" growing?

For the distinction between a republic and a modern democracy, the interview is worth the price of admission.

Bogle really is a deep thinker.

Lev
by Levett
Mon Mar 27, 2017 9:12 am
Forum: Investing - Theory, News & General
Topic: Why are international and US stocks down today?
Replies: 53
Views: 3625

Re: Why are international and US stocks down today?

Myopic Loss Aversion, to which we are all subject to one degree or another.

Perhaps the following will prove instructive:

https://faculty.chicagobooth.edu/Richar ... 20Test.pdf

Lev
by Levett
Sat Mar 25, 2017 12:01 pm
Forum: Investing - Theory, News & General
Topic: "Designing Your "Glide Path"
Replies: 25
Views: 3198

Re: "Designing Your "Glide Path"

The language about "annuity-linked programs" is John Bogle's, and, yes, I have assumed he has in mind immediate annuities (Inflation-linked, longevity, SPIA) of one kind or another. I happen to have used SPIA.

Lev
by Levett
Sat Mar 25, 2017 9:28 am
Forum: Investing - Theory, News & General
Topic: "Designing Your "Glide Path"
Replies: 25
Views: 3198

Re: "Designing Your "Glide Path"

Taylor wrote: " Consider an appropriate target fund -- then forget about it." Forget about it until when? What happens at the time of decumulation? In 2009, John Bogle observed in Enough (page 151): "And we are only now developing annuity-linked programs that allow our clients a seaml...
by Levett
Fri Mar 24, 2017 3:50 pm
Forum: Personal Consumer Issues
Topic: The Sweet Spot for Yearly Car Costs
Replies: 54
Views: 4000

Re: The Sweet Spot for Yearly Car Costs

To borrow from my wine buying experience, I think the "sweet spot" for an automobile is its QPR (Quality-Price Ratio).

In my case, that means a Subaru Outback. :D

Lev
by Levett
Thu Mar 23, 2017 6:40 pm
Forum: Investing - Help with Personal Investments
Topic: Why did my fund GO UP so much?
Replies: 33
Views: 2822

Re: Why did my fund GO UP so much?

No fair peeking! :wink:

Lev
by Levett
Thu Mar 23, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 972

Re: Stay & remodel vs. Move - North Dallas

Remodel and stay put--that's what I see within and between the lines.

It's such a pleasure to hear you take into account the needs and benefits for the entire family. :thumbsup

Lev
by Levett
Thu Mar 23, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 2177

Re: Pretirement

"Preretirement" (dry run) is a distinct advantage of the academic life if your home institution offers sabbaticals (generally for research). I thought of my last two sabbaticals as a dry run for retirement. I was convinced I was ready (that was about 20 years ago). I believe some industrie...
by Levett
Tue Mar 14, 2017 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance - Sewer Backup necessary?
Replies: 7
Views: 653

Re: Homeowners Insurance - Sewer Backup necessary?

It could be a penny wise/pound foolish situation.

Any kind of a sewer back up, basement or no basement, is an unpleasant business.

For less than $6 a month (a Starbucks latte with glop on it), you will eliminate the possibility of immense regret.

Lev
by Levett
Wed Mar 08, 2017 5:01 pm
Forum: Investing - Help with Personal Investments
Topic: Wellesley or Balanced index?
Replies: 26
Views: 1624

Re: Wellesley or Balanced index?

Dexter, Have you considered splitting the difference--e.g., allocate some to one fund and some to the other? Low cost, low turnover, both generate untaxed income (in a Roth); however, the funds are basically large cap, with minimal international exposure. I happen to think both funds have considerab...
by Levett
Sun Mar 05, 2017 7:02 pm
Forum: Personal Consumer Issues
Topic: How often do you discuss finances and spending with your spouse?
Replies: 60
Views: 3530

Re: How often do you discuss finances and spending with your spouse?

Regularly. Helps to make a durable marriage.

Lev
by Levett
Mon Feb 20, 2017 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: When do you need an annuity?.
Replies: 25
Views: 2693

Re: When do you need an annuity?.

Wizard observed: "Need" an annuity makes it seem like possible desperation. When might you WANT an annuity is a more levelled question. And the answer is: when you would prefer to have a higher taxable income in retirement rather than a lower income." That's what I call proper re-fram...
by Levett
Thu Feb 16, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella 1 million $500
Replies: 32
Views: 2488

Re: Umbrella 1 million $500

Very high. Just paid for our $2 million coverage. The premium was $305 for the year.

Lev
by Levett
Thu Feb 16, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: What's the secret to happiness?
Replies: 39
Views: 2910

Re: What's the secret to happiness?

Jason Zweig once quoted from the poet Lucretius that " the key to happiness is the satisfaction of modest wants." I have found this to be true. Unhappiness in my life, on the other hand, generally relates to someone in the extended family being unwell. I don't think happiness is a permanen...
by Levett
Wed Feb 15, 2017 7:50 pm
Forum: Investing - Help with Personal Investments
Topic: Stock Market Fears
Replies: 55
Views: 6143

Re: Stock Market Fears

Hi Ann, Yes. The run-up to retirement can be anxiety producing. (Those of us who are retirees,if we are honest with ourselves, know that anxiety to a greater or lesser degree). You wrote: "I don't mind missing a market upturn. I worry more about a loss at this point. I think lowering our stock ...
by Levett
Wed Feb 15, 2017 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: "The Real Reason Big Savers Retire Early: Minimizing Retirement Savings Needs" by Michael Kitces
Replies: 5
Views: 2137

Re: "The Real Reason Big Savers Retire Early: Minimizing Retirement Savings Needs" by Michael Kitces

I'm not sure what "lifestyle creep" is.

If you can afford and want to do "it"--whatever "it" is--do it.

Save and invest so you can do. 8-)

Lev
by Levett
Tue Feb 14, 2017 1:05 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Reaches $4 Trillion for First Time
Replies: 25
Views: 4079

Re: Vanguard Reaches $4 Trillion for First Time

Bigger is better doesn't do much for me. It's about service, and it would not surprise me a bit if Vanguard's service continues to encounter issues that have already been documented at this site.

Lev
by Levett
Mon Feb 06, 2017 6:09 pm
Forum: Investing - Theory, News & General
Topic: Too good to be true? [Bogleheads' model of index investing]
Replies: 48
Views: 5904

Re: Too good to be true?

"all that's needed is the discipline to put money away consistently."

You don't need to be a Boglehead to understand this.

But the emphasis on low costs, in addition, to discipline, matters.

Lev
by Levett
Mon Feb 06, 2017 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Do you account for likely life expectancy in retirement?
Replies: 63
Views: 5018

Re: Do you account for likely life expectancy in retirement?

I happen to agree entirely with Nisi.

Given the uncertainty of life (first wife died in her late 30s), I decided to retire early as soon as the kids were finished with college.

I listened to Satchel Paige: "Don't look back. Something might be gaining on you."

Lev
by Levett
Fri Feb 03, 2017 7:05 am
Forum: Investing - Theory, News & General
Topic: Just watched Warren Buffett's new HBO Documentary
Replies: 50
Views: 7135

Re: Just watched Warren Buffett's new HBO Documentary

orca91: exactly--

"Is he really a stock picker at all? Or, is he a businessman who buys businesses? Don't the rest of us buy stocks of his businesses?"

Buffett (and Munger) have made a lot of shareholders very happy for a very long time. That's mainly skill, not luck.

Lev

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