Search found 698 matches

by RNJ
Wed May 18, 2016 4:20 pm
Forum: Investing - Help with Personal Investments
Topic: A very large sum and a unique situation
Replies: 24
Views: 2466

Re: A very large sum and a unique situation

I'd suggest Vanguard Personal Advisor Services (not any other brokerage) for the investing part. . . . . . One thing to consider. If the one son is managing the money for all 3 families, I would absolutely have someone else manage it . For me, that would be Vanguard PAS. If the son is only managing...
by RNJ
Wed May 18, 2016 9:40 am
Forum: Investing - Theory, News & General
Topic: safe alternative to stock market
Replies: 61
Views: 5656

Re: safe alternative to stock market

Maybe the best thing to do is re-assess your current asset allocation and the rationale for choosing it. Do you have an IPS?
by RNJ
Wed May 18, 2016 7:15 am
Forum: Investing - Theory, News & General
Topic: safe alternative to stock market
Replies: 61
Views: 5656

Re: safe alternative to stock market

FDIC insured high yield savings accounts or CDs.
by RNJ
Mon May 16, 2016 2:43 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 322

Re: DEMSX vs VSS

I'd rather have the DFA fund than any of the ETFs in the space, that's for sure. If there's one place DFA's not-a-slave-to-an-index, so-called patient trading can really help, it's got to be small cap EM. +1 IF this is the space you want to be in. VSS may be the only game in town for what it does (...
by RNJ
Mon May 16, 2016 1:36 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 322

Re: DEMSX vs VSS

Well, emerging markets small cap (small cap value, mostly, reaching heavily through mids, with some micro caps) and ex-US small cap (though actually more mid cap than small cap) don't exactly have the same asset coverage. It makes sense that the more specialized fund that concentrates in the parts ...
by RNJ
Mon May 16, 2016 1:30 pm
Forum: Investing - Theory, News & General
Topic: DEMSX vs VSS
Replies: 7
Views: 322

Re: DEMSX vs VSS

You do understand that these are completely different types of funds, right? If not, you might want to do some more research before making the switch.
by RNJ
Sat May 14, 2016 5:57 am
Forum: Investing - Theory, News & General
Topic: Jim Cramer doesn’t beat the market
Replies: 61
Views: 6335

Re: Jim Cramer doesn’t beat the market

Toons wrote:Cramer is entertaining. :happy



Cramer is entertainMENT.
by RNJ
Thu May 12, 2016 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup Requested on 3 Year Boglehead Anniversary
Replies: 14
Views: 2199

Re: Portfolio Checkup Requested on 3 Year Boglehead Anniversary

Hi. I don't like the idea of paying off the mortgage - though I might if your mortgage rate was higher. Using the "mortgage as a negative bond" model, the after-tax difference between what you're earning on your bond funds and paying out for a mortgage might be thought of as the premium yo...
by RNJ
Tue May 10, 2016 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Too Chicken for NJ Municipal Bonds?
Replies: 12
Views: 1439

Re: Too Chicken for NJ Municipal Bonds?

I'm in the same position. I opted out of VNJUX - I didn't like the duration or the single state risk (I use BMBIX - Baird Intermediate Quality). That said, you could do something similar to what Grabiner is suggesting by splitting your $ between VNJUX and Vanguard's NJ money market fund, current SEC...
by RNJ
Fri May 06, 2016 10:56 am
Forum: Investing - Theory, News & General
Topic: Indexed annuities
Replies: 32
Views: 2127

Re: Indexed annuities

nimzojim wrote:These annuities appear to be mostly a scam presented to aging retirees using fear factor techniques but I would love to hear from anyone who disagrees and can present a good case for owning them.


I think that about sums it up.
by RNJ
Fri May 06, 2016 6:14 am
Forum: Investing - Theory, News & General
Topic: "When the Rich Jump Ship"
Replies: 6
Views: 2116

"When the Rich Jump Ship"

From The Atlantic:

"The accepted wisdom says to sit tight when the market tanks, but a couple of groups don’t heed that advice."

http://www.theatlantic.com/business/archive/2016/05/when-the-rich-jump-ship/481326/
by RNJ
Fri May 06, 2016 6:10 am
Forum: Investing - Help with Personal Investments
Topic: 57, widowed, looking for best path to invest windfall
Replies: 20
Views: 2836

Re: 57, widowed, looking for best path to invest windfall

I'm sorry for your loss. I was in just your position a few years ago. Not easy. Re paying off the mortgage, I also don't think there is any hurry to pay it off. Not paying it off allows more flexibility for your mother and also functions as an inflation hedge. And given the nature of your family's l...
by RNJ
Tue May 03, 2016 1:00 pm
Forum: Investing - Theory, News & General
Topic: Total World ETF Taxable
Replies: 9
Views: 977

Re: Total World ETF Taxable

Completelr reasonable holding, IMHO. The er will likely come down over time. The few extra basis points is the price of simplicity and compensating for home bias - a pretty good deal. And why would you miss out on a TLH opportunity? Have you checked out ACWI (iShares' MSCI World Index) as a TLH par...
by RNJ
Mon May 02, 2016 10:01 am
Forum: Investing - Theory, News & General
Topic: Total World ETF Taxable
Replies: 9
Views: 977

Re: Total World ETF Taxable

Completely reasonable holding, IMHO. The er will likely come down over time. The few extra basis points is the price of simplicity and compensating for home bias - a pretty good deal. And why would you miss out on a TLH opportunity? Have you checked out ACWI (iShares' MSCI World Index) as a TLH part...
by RNJ
Sun May 01, 2016 11:49 am
Forum: Investing - Theory, News & General
Topic: 529 plans: "off-label" uses?
Replies: 7
Views: 790

529 plans: "off-label" uses?

In a recent thread ( https://www.bogleheads.org/forum/viewtopic.php?t=189955 ), in the context of finding "low hanging fruit" in financial planning,a reference was made to "off-label" uses for 529 plans. I'm not finding much in search. Could anyone elaborate? Thanks.
by RNJ
Sun May 01, 2016 1:30 am
Forum: Investing - Theory, News & General
Topic: Tax loss harvesting: in rare occasions for the boglehead?
Replies: 17
Views: 1727

Re: Tax loss harvesting: in rare occasions for the boglehead?

TL harvests may also be used to offset future capital gains. My use of TLH is opportunistic. If I find, for example, an emerging markets lot or entire allocation is showing a "worthwhile" loss, I sell, booking the loss, and then purchase a predetermined TLH "partner" (e.g., VWO <...
by RNJ
Fri Apr 29, 2016 3:34 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets?
Replies: 15
Views: 1444

Re: Emerging Markets?

RNJ... No, we do not have an IPS...we do have a fairly well-defined handle on the basic tenets as described in the wiki, but not a formal or elaborate statement as such. It is only in the past 2 years that DW and I have begun actively managing this portion of our investment portfolio, with the inte...
by RNJ
Fri Apr 29, 2016 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets?
Replies: 15
Views: 1444

Re: Emerging Markets?

A couple of points. When holding particularly volatile asset classes (e.g., small value, emerging markets) I believe it is imperative to have tax-loss partners at the ready and make the jump from one to the other immediately or ASAP. If one is not prepared to do that then it is a mistake in process...
by RNJ
Fri Apr 29, 2016 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Emerging Markets?
Replies: 15
Views: 1444

Re: Emerging Markets?

A couple of points. When holding particularly volatile asset classes (e.g., small value, emerging markets) I believe it is imperative to have tax-loss partners at the ready and make the jump from one to the other immediately or ASAP. If one is not prepared to do that then it is a mistake in process ...
by RNJ
Thu Apr 21, 2016 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard versus David Swenson
Replies: 28
Views: 3752

Re: Vanguard versus David Swenson

Swensen's "Unconventional Success" was one of the first books to open my eyes to indexing, asset class investing, etc. It continues to be a touchstone for me. But my portfolio looks nothing like a "Swensen". This is mostly because I am in a situation nearly identical to yours and...
by RNJ
Thu Apr 21, 2016 4:42 am
Forum: Investing - Help with Personal Investments
Topic: How to think about cash balance plan?
Replies: 1
Views: 279

How to think about cash balance plan?

My dear spouse is a partner in a large professional practice, and participates in the partnership's CBP. The plan has a 0% - 4% "collar" meaning that if the plan underperforms (negative return in a given year) additional funds must be added, while returns exceeding 4% reduce pretax contrib...
by RNJ
Tue Apr 19, 2016 8:59 pm
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 826
Views: 131231

Re: What are you up YTD? [Year To Date]

65% stocks.

Up roughly 5.5% ytd.

EDIT: I've been leaning into Internationl and EM, now 52% of equities - up from 50%
by RNJ
Mon Apr 18, 2016 9:46 am
Forum: Investing - Theory, News & General
Topic: Everyone Worries Too Much About 'Black Swans'
Replies: 39
Views: 4196

Re: Everyone Worries Too Much About 'Black Swans'

I think we often overlook "personal" Black Swans that have nothing to do with the markets: illness, disability, death or illness of a working spouse/partner, permanent loss of high-paying job.
by RNJ
Mon Apr 18, 2016 9:40 am
Forum: Investing - Theory, News & General
Topic: Everyone Worries Too Much About 'Black Swans'
Replies: 39
Views: 4196

Re: Everyone Worries Too Much About 'Black Swans'

...In my case it is better for me to be 100% invested in the stock market & use any black swans as a opportunity to buy more stocks that are on sale. Buy more with what? The nature of the black swan is that you'll lose at least your job, maybe your health, maybe your life. This isn't just theor...
by RNJ
Thu Apr 14, 2016 8:03 pm
Forum: Investing - Theory, News & General
Topic: Vanguard International Value (VTRIX) or iShares EAFE Value (EFV)?
Replies: 2
Views: 405

Re: Vanguard International Value (VTRIX) or iShares EAFE Value (EFV)?

Why those two? Some questions: Do you want a fund or an ETF? Active or passive? If passive, cap weighted or some other scheme? Personally, I TLH between PXF and SFNNX - both quasi-passive (I think I just now coined that term), RAFI-designed. I prefer the latter because it's cheaper and I don't parti...
by RNJ
Wed Apr 13, 2016 4:14 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing in a taxable account isn't so simple
Replies: 54
Views: 4492

Re: Rebalancing in a taxable account isn't so simple

75% of our portfolio is in taxable accounts. Here are some guidelines from our IPS, reconfigured for your purposes: 1) Take all distributions in cash. 2) Funnel distributions and new contributions to lagging assets. 3) Harvest losses aggressively. 4) Avoid selling shares with taxable gains. 5) [If ...
by RNJ
Tue Apr 12, 2016 9:30 am
Forum: Investing - Theory, News & General
Topic: Rebalancing in a taxable account isn't so simple
Replies: 54
Views: 4492

Re: Rebalancing in a taxable account isn't so simple

Another issue about reinvesting distributions is that it may be cumbersome to calculate tour cost basis when it does come time to sell.
by RNJ
Tue Apr 12, 2016 9:09 am
Forum: Investing - Theory, News & General
Topic: Rebalancing in a taxable account isn't so simple
Replies: 54
Views: 4492

Re: Rebalancing in a taxable account isn't so simple

75% of our portfolio is in taxable accounts. Here are some guidelines from our IPS, reconfigured for your purposes: 1) Take all distributions in cash. 2) Funnel distributions and new contributions to lagging assets. 3) Harvest losses aggressively. 4) Avoid selling shares with taxable gains. 5) [If y...
by RNJ
Tue Apr 05, 2016 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: Can't decide whether to sell stocks with unrealized gains or the ones that are down a lot
Replies: 6
Views: 847

Re: Can't decide whether to sell stocks with unrealized gains or the ones that are down a lot

Sell them all. VT is lower now because emerging markets and small-foreign are down. So sell them all and buy VT. If you cannot bring yourself to sell all now, then start by selling some of all of them now. You can slowly build up your VT over time. Yes. And/or, you can make your charitable contribu...
by RNJ
Mon Apr 04, 2016 10:24 am
Forum: Investing - Theory, News & General
Topic: Short-Term Treasury Bond Index FSBAX in taxable?
Replies: 5
Views: 764

Re: Short-Term Treasury Bond Index FSBAX in taxable?

I believe Bill Bernstein advises maintaining an allocation to ST Treasuries in taxable. Something like 1/3 each of CDs, Treasuries and Tax-exempt fund(s). Hey RNJ, thanks for the reply! Can you point me to where Bill Bernstein says this? I'd like to read it, if its in an article. See "Rational...
by RNJ
Sat Apr 02, 2016 11:48 am
Forum: Investing - Theory, News & General
Topic: Short-Term Treasury Bond Index FSBAX in taxable?
Replies: 5
Views: 764

Re: Short-Term Treasury Bond Index FSBAX in taxable?

I believe Bill Bernstein advises maintaining an allocation to ST Treasuries in taxable. Something like 1/3 each of CDs, Treasuries and Tax-exempt fund(s).
by RNJ
Wed Mar 30, 2016 10:11 am
Forum: Investing - Theory, News & General
Topic: Unconventional Investing
Replies: 19
Views: 2013

Re: Unconventional Investing

I am very interested in building sound investing principles and have been very satisfied with the boglehead approach. I assessed our risk tolerance, devised a stock vs bond allocation, used low cost admiral funds to fill each subset, and designed an excel spreadsheet to help me rebalance quarterly ...
by RNJ
Sat Mar 19, 2016 1:32 pm
Forum: Investing - Theory, News & General
Topic: What bond funds do you use, and why?
Replies: 55
Views: 4043

Re: What bond funds do you use, and why?

Taxable (roughly 20% of fixed income): ~50/50 Baird Quality Intermediate Muni (BMBIX) / PenFed 3% CDs. Looking for high quality and good behavior in bad times.

Non-taxable: VG Intermediate Term Treasury (VFIUX) & Fidelity Spartan Inflation-Protected Index (FSIYX). Zero credit risk.
by RNJ
Thu Mar 17, 2016 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage prepayments & savings targets
Replies: 20
Views: 2019

Re: Mortgage prepayments & savings targets

Helpful, interesting, and diverging replies - thanks. By way of background, we max out all retirement space and our 529s are nearing capacity for both our 10 and 7 year olds. We have ~26 years left on a 30 yr mortgage at 3.75% (39.6% bracket). We'll almost certainly be out of the house in 15 years (...
by RNJ
Thu Mar 17, 2016 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage prepayments & savings targets
Replies: 20
Views: 2019

Mortgage prepayments & savings targets

Should mortgage prepayments "count" towards annual savings targets? Thanks!
by RNJ
Sun Mar 06, 2016 11:02 am
Forum: Investing - Theory, News & General
Topic: Poll: Active Funds in Which You Invest
Replies: 76
Views: 4690

Re: Poll: Active Funds in Which You Invest

Baird Quality Intermediate Muni (BMBIX)
VG Intermediate Treasury (VFIUX)

Rules-based/Quasi-passive:
Schwab Fundamental International Large Co Index
Schwab Fundamental International Small Co Index
by RNJ
Tue Feb 23, 2016 12:04 pm
Forum: Investing - Theory, News & General
Topic: Managed accounts beat DIY investor
Replies: 33
Views: 2960

Re: Managed accounts beat DIY investor

Carl Richards (BAM's Director of Investor Education and author of "The Behavior Gap") wrote that his advisor stands between him "and stupid." Setting aside Mr. Richards' biases (he works for BAM, after all), I believe that to be the strongest case for hiring an advisor - as a che...
by RNJ
Tue Feb 16, 2016 9:41 pm
Forum: Investing - Theory, News & General
Topic: El-Erian interview
Replies: 1
Views: 628

El-Erian interview

Interview with a very bright guy. El-Erian interviewed on "On Point" radio show. Discusses his new book and the "next crash." Interesting explication of negative interest rates, central banks and global economy. ". . . economist Mohamed El-Erian says years of politicians duc...
by RNJ
Tue Feb 09, 2016 2:54 pm
Forum: Investing - Theory, News & General
Topic: "Nobody Knows Nothing" from Reformed Broker
Replies: 2
Views: 721

"Nobody Knows Nothing" from Reformed Broker

http://thereformedbroker.com/2016/02/09/nobody-knows-nothing-episode-653/?utm_source=dlvr.it&utm_medium=twitter "If you’re still investing based on Wall Street’s forecasts, you’re like a clown in the zoo" . "The Reformed Broker" (Josh Brown from Ritholtz Wealth Management) l...
by RNJ
Mon Feb 08, 2016 8:15 pm
Forum: Investing - Help with Personal Investments
Topic: [REVISED] Losing money to change asset allocation?
Replies: 14
Views: 1126

Re: Losing money to change asset allocation?

Your tilting to smaller caps provides higher expected returns based on past performance and higher risk (defined here as volatility). The thing about expected returns is that, while we "expect" them, we have to be very, very patient - this is how we "earn the return". By "pa...
by RNJ
Thu Feb 04, 2016 2:46 pm
Forum: Investing - Theory, News & General
Topic: Re Yale Endowment, via Bloomberg
Replies: 10
Views: 1363

Re Yale Endowment, via Bloomberg

The article looks at a hedge fund, Bracebridge Capital, used by Yale: "In a year when titans Bill Ackman and David Einhorn each lost more than 20 percent for their investors, David Swensen’s bet on a little-known Boston hedge fund kept making him money." However, the most interesting aspec...
by RNJ
Tue Feb 02, 2016 9:59 pm
Forum: Investing - Help with Personal Investments
Topic: Cash Balance vs. Taxable
Replies: 19
Views: 1410

Re: Cash Balance vs. Taxable

Orthodoc and Alec have it right. My wife is an owner so my understanding came from that perspective.

Given your tax rate, the plan still seems like a reasonable choice.
by RNJ
Tue Feb 02, 2016 5:02 pm
Forum: Investing - Help with Personal Investments
Topic: Cash Balance vs. Taxable
Replies: 19
Views: 1410

Re: Cash Balance vs. Taxable

Make sure you really understand what a cash balance plan is. That 3% is not guaranteed (how could it be with a 20/80 allocation?). Rather, it is a "collar" on returns. If the plan outperforms the collar, your contribution is/may be reduced the following year(s). If the plan underperforms, ...
by RNJ
Sat Jan 30, 2016 4:12 pm
Forum: Investing - Theory, News & General
Topic: Who else is holding in cash? [For future investing]
Replies: 66
Views: 5164

Re: Who else is holding in cash?

Some of the best wealth managers do tend to hold quite a lot of cash - is Warren Buffett up around 26% these days? Mohamed El-Erian I think has about half his portfolio in cash I believe in Buffett's case, he'd rather hold cash than hold things he thinks aren't worth holding .. Then holding cash gi...
by RNJ
Sat Jan 30, 2016 10:58 am
Forum: Investing - Theory, News & General
Topic: Who else is holding in cash? [For future investing]
Replies: 66
Views: 5164

Re: Who else is holding in cash?

Our IPS (do you have one?) explicitly excludes holding cash beyond what we may need for living expenses. It's set up in this fashion not only because it's reasonable policy for where we are relative to retirement, but also as a block to poor behavior (i.e., market timing). Whatever "strengths&q...
by RNJ
Wed Jan 27, 2016 11:50 pm
Forum: Investing - Theory, News & General
Topic: 30Yr Mortgage or Sell Mutual Funds and Purchase House
Replies: 27
Views: 2388

Re: 30Yr Mortgage or Sell Mutual Funds and Purchase House

The variety of well-reasoned opinions supporting different approaches speaks to the possibility that this is an emotional/behavioral decision rather than simply a numbers decision."Debt" may have one meaning for a particular individual, but a mortgage may have a completely meaning. There i...
by RNJ
Wed Jan 27, 2016 11:39 pm
Forum: Investing - Theory, News & General
Topic: Entire Portfolio Expense Ratio
Replies: 41
Views: 2285

Re: Entire Portfolio Expense Ratio

--> .18
by RNJ
Mon Jan 25, 2016 4:39 pm
Forum: Investing - Theory, News & General
Topic: Getting from here to there with your portfolio - how did you do it?
Replies: 12
Views: 1104

Re: Getting from here to there with your portfolio - how did you do it?

I'm assuming this is a question of "mechanics." I began by doing a lot of homework and reading (Bogle, Bernstein, Swensen, Swedroe, Ferri, Graham, Gibson, etc.). I then made the decision to go without an advisor. I thought about our pre-and post-retirement goals; about my feelings regardin...
by RNJ
Mon Jan 25, 2016 8:17 am
Forum: Investing - Theory, News & General
Topic: What is Your Bond Allocation & Location
Replies: 48
Views: 5347

Re: What is Your Bond Allocation & Location

-70% Intermediate-term treasuries (VFIUX) spread across SEP, IRA and 401k accounts.

-5% Intermediate-term municipals (BMBIX) in taxable.

20% TIPS (FSIYX) in 401k and IRA.

~ 5% of fixed income in 3% CD in taxable.

Avg age 48, 65/45 small and value tilted portfolio.

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