Search found 2893 matches

by afan
Sat Oct 21, 2017 7:15 pm
Forum: Investing - Theory, News & General
Topic: Observation on Edward ones
Replies: 9
Views: 1423

Re: Observation on Edward ones

Not to defend EJ or any high priced broker, but was this only for recruiting stock salespeople? Or was it recruiting for a broader range of positions?
by afan
Sat Oct 21, 2017 7:09 pm
Forum: Investing - Theory, News & General
Topic: TIAA Trouble [NY Times: TIAA pushes clients to high fee products]
Replies: 31
Views: 2591

Re: TIAA Trouble [NY Times: TIAA pushes clients to high fee products]

This makes sense considering my interaction with TIAA. I have some money there, so I took the call when someone phoned me to "talk about my retirement". I assumed there was some question about my account. It took a while, and the person calling was first vague, then evasive when I asked what it was ...
by afan
Sat Oct 21, 2017 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 73
Views: 2171

Re: Commission only fiduciary planner

I would not waste my time going to the presentation. The notion of a fiduciary paid by commission tells you all you need to know.

DIY is easy. You do not need to pay anyone to do it for you. If you want to pay someone, Vanguard will do it legitimately without nonsense about fiduciary commissions.
by afan
Sat Oct 21, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: [If I die before my spouse, how to direct Vanguard advisors?]
Replies: 38
Views: 2678

Re: [If I die before my spouse, how to direct Vanguard advisors?]

They say they will consider tax implications and not immediately sell if it would generate large capital gains. But they also will gradually convert to their model portfolio. If you want someone to run a slice and dice portfolio for you, look elsewhere.
by afan
Sat Oct 21, 2017 9:19 am
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 73
Views: 2171

Re: Commission only fiduciary planner

The notion that they are fiduciaries who get paid by commission makes no sense. If you were getting good advice you would never buy anything that had a commission, which would mean your advisors would never get paid. So they would be out of business. If they really claimed they were fiduciaries they...
by afan
Fri Oct 20, 2017 3:23 pm
Forum: Investing - Help with Personal Investments
Topic: Possible to move self directed brokerage account to another brokerage?
Replies: 3
Views: 246

Re: Possible to move self directed brokerage account to another brokerage?

Do they have any commission free fund options? Can you simply buy funds similar to Vanguard's?
by afan
Fri Oct 20, 2017 10:19 am
Forum: Personal Finance (Not Investing)
Topic: [What happens if TD Ameritrade goes bankrupt?]
Replies: 6
Views: 1061

Re: [What happens if TD Ameritrade goes bankrupt?]

Your stocks are not assets of the broker. The broker going bankrupt would be a hassle, but your money would not be distributed to the broker's creditors. Another firm would take over and life would go on. Since it would be a hassle, we do not keep all our assets at a single company. I don't pay atte...
by afan
Fri Oct 20, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: [If I die before my spouse, how to direct Vanguard advisors?]
Replies: 38
Views: 2678

Re: [If I die before my spouse, how to direct Vanguard advisors?]

Also remember that, although Vanguard is wonderful, there is nothing magic going on there. Your spouse needs a simple low cost portfolio. That can be done with 1-3 Vanguard funds, but outfits like Fidelity and Schwab can offer identical services. Funds change over time. I would be hesitant to tell s...
by afan
Fri Oct 20, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: [If I die before my spouse, how to direct Vanguard advisors?]
Replies: 38
Views: 2678

Re: [If I die before my spouse, how to direct Vanguard advisors?]

For those whose spouses truly are incapable of managing their own affairs- declining cognitive ability due to age, extremely limited education, whatever- something like PAS would be far better than most alternatives. But I have to agree that participants on this board tend to assume that their appro...
by afan
Thu Oct 19, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Help picking apart whole life insurance cash value
Replies: 39
Views: 1577

Re: Help picking apart whole life insurance cash value

This has me totally confused It models what would happen over 10 years assuming $1000/month available for saving ($120,000 total) and that half ($61,000) is spent at various points during the 10 years. It assumes that all spending is treated as a loan and "paid back" regardless of whether the underl...
by afan
Tue Oct 17, 2017 4:00 pm
Forum: Investing - Theory, News & General
Topic: About Vanguard advisors: opinions, thoughts?
Replies: 78
Views: 8073

Re: About Vanguard advisors: opinions, thoughts?

I am not sure.what the 0.3% is for. They will institute a portfolio you could easily create for yourself, then do nothing else. Now this is exactly what you want. But you can do it for free.
by afan
Tue Oct 17, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Wills/Trust/Estate Planning - How best to review legal documents
Replies: 21
Views: 1608

Re: Wills/Trust/Estate Planning - How best to review legal documents

There is a difference between reading for typos and really understanding. Estate planning deals with a combination of legislation, court cases, state and federal regulations, interpersonal conflicts and financial planning. There is no way it is going to be simple. Getting clients to really understan...
by afan
Tue Oct 17, 2017 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Help picking apart whole life insurance cash value
Replies: 39
Views: 1577

Re: Help picking apart whole life insurance cash value

It is good to hear that you are looking primarily at the guaranteed returns, not the hypothetical dividends. Over the years many cash value policies were sold with higher postulated dividends than materialized. Many people borrowed from their whole life policies, let their cash value pay premiums or...
by afan
Sat Oct 14, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Help with retirement decision
Replies: 11
Views: 1443

Re: Help with retirement decision

Find out what monthly payment you cold get from an immediate annuity for $100,000. I suspect that the $515/month you would have to give up is more than you would get from an annuity. If I assume the pension is very safe, either a strong company or government or insured, then a good annuity is the ap...
by afan
Sat Oct 14, 2017 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Help with transferring R/E property into revocable trust.
Replies: 7
Views: 561

Re: Help with transferring R/E property into revocable trust.

I don't know the AZ specific answers, but as a broad generalization, you probably want the rental properties each in its own LLC. You could transfer your interest in the LLCs into a trust, if you can resolve which one.
by afan
Sat Oct 14, 2017 3:48 pm
Forum: Personal Consumer Issues
Topic: How long for hedonic adaptation to set in?
Replies: 109
Views: 7129

Re: How long for hedonic adaptation to set in?

Experimenting in reverse does not require major life changes. I am not going to sell my too big house because it would be an enormous hassle to do so and move. But I can further cut back on those luxuries that I have tried and know do not appeal to me. It is easy for me because I find most of what I...
by afan
Fri Oct 13, 2017 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on home insurance and land vs structure value
Replies: 20
Views: 1122

Re: Thoughts on home insurance and land vs structure value

Then1% is a formula for calculating the dollar value of the deductible. Once calculated, then the dollar value is the deductible. The deductible would be the same for a claim of $1,000, a claim of $10,000 or a claim of $100,000.
by afan
Fri Oct 13, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Intentionally Defective Grantor Trust to avoid estate tax limit?
Replies: 20
Views: 1665

Re: Trust to avoid estate tax limit?

There is no reason a trust need have complicated investments. It could have a simple portfolio of 2-4 funds, with one brokerage statement covering the entire trust. You could easily do the tax return yourself. If you hired someone to do it for you it should not be expensive. Whether to distribute th...
by afan
Fri Oct 13, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Setting Beneficiary vs. Revocable Trust (probate)
Replies: 4
Views: 371

Re: Setting Beneficiary vs. Revocable Trust (probate)

But those probate court fees are a lot smaller than what an attorney might charge to manage the probate process. The attorney fees would be on top of the probate fees paid to the state. A big advantage of a trust would arise while you are alive. If you become incapacitated someone will need to manag...
by afan
Fri Oct 13, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on home insurance and land vs structure value
Replies: 20
Views: 1122

Re: Thoughts on home insurance and land vs structure value

Rather than underinsure the cost of rebuilding, we save money by carrying a large deductible. Having never filed a claim, we knew we are only concerned about big loses, like a major fire. If our house suffers smaller damage it would not be a hardship to just pay for it ourselves, so no reason to ins...
by afan
Fri Oct 13, 2017 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on home insurance and land vs structure value
Replies: 20
Views: 1122

Re: Thoughts on home insurance and land vs structure value

The market value is not much of a guide. You need your insurance company to estimate the cost of rebuilding your house. Unless you are a builder yourself it could be hard for you to come up with a reliable figure. You would have to take into account current building codes, costs of material and the ...
by afan
Mon Oct 09, 2017 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Betterment, $500k in cash, no taxable events to transfer?
Replies: 44
Views: 4481

Re: Betterment, $500k in cash, no taxable events to transfer?

The constant trading that betterment claims to do sounds like a nightmare come tax time. I would not have to spend that much extra time completing my taxes to wipe out whatever TLH benefit they claim. A handful of transactions could be done and reported with very little effort. Dozens or more purcha...
by afan
Sun Oct 08, 2017 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Why is TransUnion pushing True Identity vs credit freeze?
Replies: 28
Views: 10353

Re: Why is TransUnion pushing True Identity vs credit freeze?

We went with freezes rather than locks. The locks are new, seem to be unregulated and it is entirely unclear what they do. The language was vague and as CR points out the companies may be able to change what it means to lock. With a freeze they have to follow the laws. I am not sure it is true that ...
by afan
Thu Oct 05, 2017 3:49 pm
Forum: Investing - Help with Personal Investments
Topic: Sell individual stocks now after transfer to Vanguard?
Replies: 14
Views: 1009

Re: Sell individual stocks now after transfer to Vanguard?

An alternative to selling all now might be to try to match sales with capital losses, if you have any. You might sell some this year and some next to avoid being kicked into a higher tax bracket. In part, it depends on the riskiness of the stocks. Those that are similar to the broad market- a collec...
by afan
Tue Oct 03, 2017 9:37 am
Forum: Personal Finance (Not Investing)
Topic: What's the purpose of having a child's name on a deed?
Replies: 41
Views: 3286

Re: What's the purpose of having a child's name on a deed?

Concerning JTWROS vs TIC, I know several families where gifted real estate is held as TIC. Each sibling could sell their share, but among the reasons they don't is the size of the tax bill this would produce. It would have been great news to them if they got a step up to the value as of the parent's...
by afan
Tue Oct 03, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: What's the purpose of having a child's name on a deed?
Replies: 41
Views: 3286

Re: What's the purpose of having a child's name on a deed?

If most or all of the assets pass outside the Will, it may be difficult to get the estate and inheritance taxes paid if a beneficiary won't cooperate. The problem arises if they pass outside a will or a trust. The problem of assets going directly to beneficiaries and leaving not enough in the estat...
by afan
Tue Oct 03, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard: "Your Investing Life™: Helping parents prepare for the future."
Replies: 6
Views: 1029

Re: Vanguard: "Your Investing Life™: Helping parents prepare for the future."

I was happy to see the suggestion that Vanguard has PAS reps who would help with things like this. But then I read Bonus tip If your parents are open to the idea, consider having yourself named as a joint owner on their bank accounts. That way, if the need arises, you can easily pay bills on their b...
by afan
Tue Oct 03, 2017 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Can someone clear up my confusion with unfreezing credit to check my credit score?
Replies: 4
Views: 614

Re: Can someone clear up my confusion with unfreezing credit to check my credit score?

Checking your score and checking your report are different. When you get your report, you do not necessarily get a score. When you get a score you do not also get a report. My credit card that provides credit scores is still doing that, in spite of my credit freeze. Since you cannot freeze access of...
by afan
Mon Oct 02, 2017 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Past problem with Universal Life assumptions
Replies: 7
Views: 407

Re: Past problem with Universal Life assumptions

I don't know the specific article but there have been many like that. If people paid the premium required to keep the policy alive at guaranteed cost and returns they should be fine. The problems arise when people add the ability to take loans to the ability to pay lower premiums, which are the sell...
by afan
Mon Oct 02, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: What's the purpose of having a child's name on a deed?
Replies: 41
Views: 3286

Re: What's the purpose of having a child's name on a deed?

Gill can you explain? To my simple non lawyer brain, I would think the cost basis implications would depend on whether the property was given by making the child a joint tenant or a tenant in common. If the latter, as I understood it, the TIC simply owned their share, with the basis they got when it...
by afan
Mon Oct 02, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: For buying house: how do you know which schools are "good"?
Replies: 56
Views: 3751

Re: For buying house: how do you know which schools are "good"?

Unless you are an elementary school teacher yourself I am not sure you would know enough to form an informed opinion. You could get an overall impression of cleanliness and order but not much beyond that. If you want more info you could go to school board meetings or, if they let you, parents' night...
by afan
Sun Oct 01, 2017 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Think I Should Dump this Whole Life Policy
Replies: 13
Views: 1148

Re: Think I Should Dump this Whole Life Policy

The simplest way to compare the performance of the policy to a taxable side account: Start with the current surrender value, this may still be less than your cash value depending on how long it takes for surrender charges to go away. Start a spreadsheet with that surrender value as the starting valu...
by afan
Sun Oct 01, 2017 11:09 am
Forum: Investing - Theory, News & General
Topic: VG using outsourcing to call me & I'm not happy
Replies: 76
Views: 7099

Re: VG using outsourcing to call me & I'm not happy

This sounds like classic phishing. They don't need to know that you have a Vanguard account. They know that many people have such accounts, so they call and claim they are from Vanguard. If the person who answers does not have a Vanguard account then maybe the call goes nowhere. If they do have such...
by afan
Sun Oct 01, 2017 7:18 am
Forum: Personal Finance (Not Investing)
Topic: For buying house: how do you know which schools are "good"?
Replies: 56
Views: 3751

Re: For buying house: how do you know which schools are "good"?

If you have wide choices in where to live, you might be able to find highly educated parents without extremely high incomes. This is typical of towns with a big population of university professors. They are hardly poor, but not wealthy either. They prize education but the region might not support th...
by afan
Sun Oct 01, 2017 7:08 am
Forum: Personal Finance (Not Investing)
Topic: For buying house: how do you know which schools are "good"?
Replies: 56
Views: 3751

Re: For buying house: how do you know which schools are "good"?

As Archimedes indicated, if you know the incomes, professions and advanced degrees of the parents then you will know the test scores of the schools. Schools in high income highly educated regions will have no problems of poverty. They will be well maintained, clean, safe and equipped with all the la...
by afan
Sun Oct 01, 2017 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Moving from one paid-for house to another
Replies: 22
Views: 1927

Re: Moving from one paid-for house to another

Contingency provisions are very common. If the people from whom you are buying the new house have a real estate agent that person should tell them how much they should care. From what you describe there should be little risk of not selling your place. Taking a bridge loan eliminates this problem but...
by afan
Fri Sep 29, 2017 4:46 pm
Forum: Investing - Theory, News & General
Topic: IPOs and Total Market
Replies: 4
Views: 296

Re: IPOs and Total Market

IPOs are not surprises. The date of the issue is known well ahead of time. Funds can use futures and options to get full exposure to the index even if they do not have every stock in them. They can also plan how much cash they will need to buy the amount of the stock the index requires.
by afan
Fri Sep 29, 2017 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Trust just set up: What and How to transfer?
Replies: 8
Views: 509

Re: Trust just set up: What and How to transfer?

Concerning the business- definitely ask your lawyer. I would wonder whether you would want to transfer it into the trust even assuming you could. You might be better off with the business being an LLC with perhaps the trust owning the LLC.
by afan
Fri Sep 29, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Trust or ?
Replies: 13
Views: 1217

Re: Trust or ?

The annuity idea would protect your spouse from selling out the assets and giving them away. If she would be susceptible to pressure from the adult kids, then she might give away the income stream from the annuities. You have to decide how worried you are about this. For a price, you can set up a tr...
by afan
Fri Sep 29, 2017 1:40 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

This thread motivated me to go back and view again one of my favorite watch videos. Patek has this video about how they service and repair their watches. They record and keep forever their records of when the watches have been back for repair, what was done, who owned them... On the video they show ...
by afan
Fri Sep 29, 2017 1:11 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

DaftInvestor wrote:
Thu Sep 28, 2017 4:27 pm
Should my kindergartner's drawing be priced the same way as a Picasso? They are both art after all and "serve the same function".
We display a number of peices of art our kids created as children.
Never bought anything from famous artists.
by afan
Fri Sep 29, 2017 12:58 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

I think the better analogy is something like a $5,000 suit vs. $1,000 suit vs. a $300 suit. Or a $100 necktie vs. a $2 goodwill tie. I used to buy my ties from Goodwill. I may have paid as much as $2 each. Then I discovered one can get ties in bulk on ebay for less than $1/tie. They look the same a...
by afan
Fri Sep 29, 2017 12:42 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

Are there really people out there who get no personal joy from any of their cars, dwellings, possessions, gifts, wine? A car is transportation. Mine works. When it can no longer be reasonably repaired, I will replace it. Unless I don't need a car anymore. Then I will just get rid of it. Don't drink...
by afan
Fri Sep 29, 2017 12:20 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

mak1277 wrote:
Thu Sep 28, 2017 8:00 am
I like mechanical watches when I'm in the woods because I never have to worry about charging it.
Solar power. Never need to charge it. Just wear it.
by afan
Fri Sep 29, 2017 12:17 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

The difference between the Rolex and the Casio is this: I will leave my Rolex to my son. He will wear it on his wrist. He can leave it to his son. He will wear it on his wrist. If that means nothing to you, that's fine. It means something to me. Hmmm. My kids don't wear watches. I like to think the...
by afan
Fri Sep 29, 2017 9:36 am
Forum: Personal Finance (Not Investing)
Topic: I am in the investment advice industry and I'm not sure if I provide any value
Replies: 67
Views: 6432

Re: I am in the investment advice industry and I'm not sure if I provide any value

I am skeptical, to say the least, of claims that advisors help clients avoid bad investment moves in overreaction to the news. It is easy to say that, but there is precious little evidence it is true. I am aware of one large study from Europe that managed to compare portfolios run by advisors to tho...
by afan
Fri Sep 29, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: I am in the investment advice industry and I'm not sure if I provide any value
Replies: 67
Views: 6432

Re: I am in the investment advice industry and I'm not sure if I provide any value

[quote=dbr post_id=3552467 time=1506692800 user_id=825] An important distinction is that planning can be performed on a one time task basis for a reasonable cost to formulate a financial plan and perhaps after some time to review and update. I am pretty sure you can't make a business of doing this. ...
by afan
Thu Sep 28, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: I am in the investment advice industry and I'm not sure if I provide any value
Replies: 67
Views: 6432

Re: I am in the investment advice industry and I'm not sure if I provide any value

There is a fundamental problem with the assets under management fee model for financial advice. As the OP realizes, managing the assets is easy and every year Vanguard pushes the cost farther below 10 basis points for a total portfolio. The rest of the fee has to be earned not on investment manageme...
by afan
Wed Sep 27, 2017 5:31 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

Well, as with people who speculate on stocks, for every person who bought a $5,000 Rolex for only $4,500, there is someone who sold a Rolex for less than it was worth. That there are some winning transactions means there are the same amounts lost by the counterparty. Some people may know watches and...
by afan
Wed Sep 27, 2017 2:59 pm
Forum: Personal Consumer Issues
Topic: The Rolex and The Boglehead
Replies: 274
Views: 11316

Re: The Rolex and The Boglehead

I am one of those people who will never, ever, EVER pay $200 for a watch, let alone $10,000. A watch is a tool for telling time. Cheap electronic watches will keep time more accurately than the best mechanical watches. Just a fact of life. For those who want even more accuracy, you can get an electr...