Search found 1205 matches

by bengal22
Sun Aug 13, 2017 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Do I really need a trust?
Replies: 48
Views: 3896

Re: Do I really need a trust?

Maybe I am being foolish but I live in Ohio and I do not see any reason whatsoever for a trust. I did a DIY will based upon my FIL and I set up beneficiaries for my mutual funds and IRA's. I realize that when I pass on my wife will have to redo these beneficiaries to pass things on to the kids(curre...
by bengal22
Fri Aug 11, 2017 1:12 pm
Forum: Investing - Theory, News & General
Topic: "Honesty like that is rare!"
Replies: 47
Views: 6954

Re: "Honesty like that is rare!"

People might realize that all they really need to do is invest in a Vanguard Target XXXX fund and they could save the advisory fee(no matter how small it is),
by bengal22
Sat Aug 05, 2017 9:44 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Puts Rivals on Notice: Fee Wars Will Only Heat Up
Replies: 62
Views: 5863

Re: Vanguard Puts Rivals on Notice: Fee Wars Will Only Heat Up

Interesting discussion... In my experience, having been with Vanguard for about 40 years and seen by portfolio rise beyond all expectations (not Vanguard's doing, just thrifty and a rising market), I have never received any solicitation from them for anything. Chopped liver or what?? The Greying Du...
by bengal22
Sat Aug 05, 2017 2:40 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Puts Rivals on Notice: Fee Wars Will Only Heat Up
Replies: 62
Views: 5863

Re: Vanguard Puts Rivals on Notice: Fee Wars Will Only Heat Up

Fidelity and Schwab can offer all the loss leader index funds they want at .05% less than Vanguard - I'm not biting. I'm sticking with Vanguard. A client of mine had a multi-million dollar portfolio of index funds at Fidelity and he died leaving it to his widow. She was not financially adept and Fi...
by bengal22
Thu Aug 03, 2017 7:50 pm
Forum: Personal Consumer Issues
Topic: belts for dress pants
Replies: 37
Views: 2285

Re: belts for dress pants

Ahhhh, where is the Munchkin Man when you really need his input.
by bengal22
Wed Aug 02, 2017 2:13 pm
Forum: Investing - Theory, News & General
Topic: Why is it hard to beat the market?
Replies: 45
Views: 3216

Re: Why is it hard to beat the market?

Because the market is efficient(reflects current situation quickly and accurately) it is hard to beat the market(49.9%;luck if you do all the time) but it is easy to match the market(buy a fund that mimics the market). The real kicker is that this makes the expense ratio very critical because that i...
by bengal22
Tue Aug 01, 2017 7:10 am
Forum: Investing - Theory, News & General
Topic: [Fidelity Beats Vanguard on Total Expenses for 14 Index Mutual Funds]
Replies: 63
Views: 4326

Re: How Fidelity’s War With Vanguard Means Big Savings for Investors

Hopefully this doesn't mean that customer service will be heading south as well. That is the concern I have about the race to the bottom on fees. Low prices aren't everything, for example I don't shop at Wal-Mart. I think vanguard's issue is competence and training not number of workers. The stuff ...
by bengal22
Sat Jul 22, 2017 9:11 pm
Forum: Personal Consumer Issues
Topic: Books not to read.
Replies: 155
Views: 11999

Re: Books not to read.

Anything by Charles Darwin is not on my list.

On the other hand, Faulkner is an acquired taste. It helps to read a commentary along side. It's not casual reading but it's worth the effort. The Great Gatsby is something I read and enjoy every few years.
by bengal22
Sat Jul 22, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Kicking the net worth habit
Replies: 47
Views: 5336

Re: Kicking the net worth habit

For me, Net Worth is the most valuable measurement I have of my financial health. While my goal is not to bequeath a large sum of money, I realize that the larger my net worth the more that I will have to spend in retirement. I do include my house(minus mortgage) and it only represents about 15% of ...
by bengal22
Sat Jul 22, 2017 10:56 am
Forum: Personal Consumer Issues
Topic: Commuters (that drive), what do you listen to?
Replies: 60
Views: 3073

Re: Commuters (that drive), what do you listen to?

I don't commute but for 30 minute drives to pick up the grandkids, my current listening preference is Grateful Dead live cuts off of my I Pod. Of course, once I pick up the grandkids, I listen to her stuff(she's 3).
by bengal22
Sat Jul 22, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Restricted SS Spousal benifit
Replies: 10
Views: 1122

Re: Restricted SS Spousal benifit

Yes you can.
by bengal22
Tue Jul 11, 2017 5:20 pm
Forum: Investing - Theory, News & General
Topic: Hundreds laid off at Fidelity
Replies: 22
Views: 4311

Re: Hundreds laid off at Fidelity

Profits are what keeps this economy growing and helps the stock market keep that 8% return over the long haul. "Profit" is not a dirty word.
by bengal22
Sat Jul 08, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone use ANNUITIES for SOME of their retirement funds?
Replies: 61
Views: 4235

Re: Does anyone use ANNUITIES for SOME of their retirement funds?

Between pension, SSA, and RMD's I do not anticipate purchasing any annuities.
by bengal22
Thu Jul 06, 2017 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Can you buy a house with little or no income?
Replies: 24
Views: 2153

Re: Can you buy a house with little or no income?

I bought a house since I have been in retirement and I have little income but based on my credit history and assets they gave me a mortgage. I for one do not think you need much income if you have the assets and strong history of paying your bills.
by bengal22
Thu Jul 06, 2017 8:05 pm
Forum: Investing - Help with Personal Investments
Topic: Medallion signature guarantee for smaller investments?
Replies: 12
Views: 923

Re: Medallion signature guarantee for smaller investments?

A bank will do this and for no charge. Have had to do it twice in the last year. They keep a stamp in the vault and it is quick and painless.
by bengal22
Thu Jul 06, 2017 11:27 am
Forum: Investing - Theory, News & General
Topic: What's the ideal safe retirement net worth target?
Replies: 225
Views: 32894

Re: What's the ideal safe retirement net worth target?

I really try not to overthink the whole net worth target thing. I retired when it felt right and just knew that I had enough. To justify my feeling, I know what my annual expenses are and I know what my eventual SSA payouts will be and I know what my pension is and will be. To me the first place to ...
by bengal22
Sat Jul 01, 2017 9:14 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone else got all their eggs in only the Vanguard basket?
Replies: 41
Views: 4058

Re: Anyone else got all their eggs in only the Vanguard basket?

About 66% Fidelity and 34% Vanguard. I like them both and would not feel comfortable having only 1 company.
by bengal22
Sat Jul 01, 2017 9:11 pm
Forum: Personal Consumer Issues
Topic: Bogleheads: you should be buying 10-year old cars
Replies: 173
Views: 13338

Re: Bogleheads: you should be buying 10-year old cars

Following the boglehead philosophy means we don't have to drive old "beaters" around town.
by bengal22
Sat Jul 01, 2017 4:51 pm
Forum: Investing - Theory, News & General
Topic: What may have led to the US stock sell-off on 6-30-17 at 3:50-4:00 p.m.?
Replies: 50
Views: 5134

Re: What may have led to the US stock sell-off on 6-30-17 at 3:50 to 4:00 p.m.?

Who knows. The media only guesses or makes up information regarding market movement. I for one don't worry about 10 minute blips or even 9 month downturns for that matter. In it for the long haul.
by bengal22
Sat Jul 01, 2017 11:50 am
Forum: Investing - Help with Personal Investments
Topic: Are Annuities A Worthwhile Retirement Investment?
Replies: 52
Views: 5189

Re: Are Annuities A Worthwhile Retirement Investment?

Of course, there is a price to be paid for having an annuity. That price is a possible lower total return on your assets. If you like having a known known - a guaranteed income stream - then annuities are for you. I tend to think of my overall portfolio as being an income generator. The income may b...
by bengal22
Sat Jul 01, 2017 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Emergency fund money and asset allocation
Replies: 14
Views: 896

Re: Emergency fund money and asset allocation

I use a Stock/Bond/Short-Term(Cash/bank stuff) for my Asset Allocation. For me, the short term is important because most of the time it drags down the overall performance. I try to keep my short-term very very low for that reason. If it helps you keep your Stock/Bond balanced to have it separate the...
by bengal22
Fri Jun 23, 2017 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Got rear-ended: any reason not to go through my ins?
Replies: 30
Views: 2883

Re: Got rear-ended: any reason not to go through my ins?

I would notify your insurance agent. They can work with the person at fault's insurance coverage and save you the hassle. Never had a rate increase for my 3 incidents(one our fault: two others).
by bengal22
Fri Jun 23, 2017 12:17 pm
Forum: Investing - Theory, News & General
Topic: "10 Reasons Why Advisers Struggle To Keep Client Portfolios Simple"
Replies: 25
Views: 3992

Re: "10 Reasons Why Advisers Struggle To Keep Client Portfolios Simple"

I would think that if advisors devised simple 3 fund index portfolio, the clients would see that they could do it and save another .5-1% fee. Why does anyone need an advisor when it is so simple to have a 3 fund portfolio that needs annual(or less) balancing?
by bengal22
Fri Jun 23, 2017 12:11 pm
Forum: Personal Consumer Issues
Topic: New cars w/ no CD player -- what can I do with my CDs?
Replies: 47
Views: 4291

Re: New cars w/ no CD player -- what can I do with my CDs?

"New cars w/ no CD player -- what can I do with my CDs?"

Some older forum members recommend building a CD ladder. I don't get it but maybe it would work for you.
by bengal22
Sun Jun 18, 2017 10:37 am
Forum: Investing - Help with Personal Investments
Topic: Why do we need an emergency fund?
Replies: 70
Views: 4537

Re: Why do we need an emergency fund?

Not everyone needs an emergency fund. IMO my assets are my emergency fund. IMO why have zero earning money sitting in a cash account just in case. I have a credit card that can be used for short term urgent needs. I have mutual funds that can be sold and turned into cash within 2 days. I prefer to l...
by bengal22
Sat Jun 17, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 5514

Re: Curious to odd estate question

Convert all of your assets to cash and state in your last will and instructions that you want to be cremated upon death along with all of your cash. Reminds me of the fellow who told his wife he wanted to take his money with him when he died. At the funeral a friend asked her how she was going to d...
by bengal22
Tue Jun 13, 2017 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Curious to odd estate question
Replies: 88
Views: 5514

Re: Curious to odd estate question

Convert all of your assets to cash and state in your last will and instructions that you want to be cremated upon death along with all of your cash.
by bengal22
Wed Jun 07, 2017 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Expense Ratio Advantage
Replies: 37
Views: 2995

Re: Vanguard Expense Ratio Advantage

OK, so by being invested in the Total Stock Market(U.S.) I guess I could say I have ownership in many many companies. But I have a miniscule amount of influence over those companies. OK, so by buying Vanguard funds, I guess I could say I have ownership in Vanguard. But I really have very little say ...
by bengal22
Mon Jun 05, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: New Milestone
Replies: 44
Views: 4561

Re: New Milestone

duplicate
by bengal22
Mon Jun 05, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: New Milestone
Replies: 44
Views: 4561

Re: New Milestone

Congratulations. Well Done. Net Worth is Net Worth. Of course you include the estimated value of your house minus mortgage(I always subtract 6% for realtor cost as well). I think net worth is the most important number I track. Because I know that this "nest egg" will generate monies in my...
by bengal22
Mon Jun 05, 2017 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Mortgages for seniors
Replies: 8
Views: 886

Re: Mortgages for seniors

I was retired and got a mortgage in 2012. I have no idea what criteria they used but I would think having assets to cover the mortgage made it a slam dunk for the bank.
by bengal22
Mon Jun 05, 2017 8:50 am
Forum: Investing - Theory, News & General
Topic: "Bogle's Seven Tips For Investors"
Replies: 6
Views: 1377

Re: "Bogle's Seven Tips For Investors"

Great reminder, Taylor. Your contribution to this board is invaluable. ‘Markets Have Been Solidly Upward" Faith in the above quote is why we continue to invest in the stock market. It is this faith that keeps us in the game when the market tanks. It is why we stay the course and rest easily at ...
by bengal22
Mon Jun 05, 2017 8:43 am
Forum: Personal Finance (Not Investing)
Topic: New Milestone
Replies: 44
Views: 4561

Re: New Milestone

Congratulations. Well Done. Net Worth is Net Worth. Of course you include the estimated value of your house minus mortgage(I always subtract 6% for realtor cost as well). I think net worth is the most important number I track. Because I know that this "nest egg" will generate monies in my ...
by bengal22
Mon Jun 05, 2017 8:38 am
Forum: Personal Finance (Not Investing)
Topic: What's the difference between a Trust and a Will?
Replies: 24
Views: 1986

Re: What's the difference between a Trust and a Will?

You can avoid probate with a will as well . A will must be probated to be valid. How do you avoid this? Gill My main point was that you can set all your assets up so that they transfer at death. A lot of this stuff like trust and wills are established to make the legal folk money. You are right, th...
by bengal22
Mon Jun 05, 2017 8:35 am
Forum: Personal Finance (Not Investing)
Topic: What's the difference between a Trust and a Will?
Replies: 24
Views: 1986

Re: What's the difference between a Trust and a Will?

You can avoid probate with a will as well . A will must be probated to be valid. How do you avoid this? Gill It's been awhile since I was my mother's executor/revocable living trust trustee, but her will had a provision that all her assets at the time of her death that weren't already in the trust ...
by bengal22
Sun Jun 04, 2017 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: What's the difference between a Trust and a Will?
Replies: 24
Views: 1986

Re: What's the difference between a Trust and a Will?

You can avoid probate with a will as well. My experience with a will was that it is sufficient and we were able to distribute most of the assets before probate was cleared. I think if one has his assets probably titled(POD and TOD) one can avoid the hassles of probate and excess taxes.
by bengal22
Thu Jun 01, 2017 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 6500

Re: Senility and Seductresses: How do you plan on protecting your money when you lose your mental capacities?

This is another one of those things that I really do not worry about. My parents are in their mid-90's and they are still very capable of handling their finances. They have things set up so that assets(other than car and house) will TOD or POD. The car and the house can be sold and handled by their...
by bengal22
Wed May 31, 2017 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 6500

Re: Senility and Seductresses: How do you plan on protecting your money when you lose your mental capacities?

This is another one of those things that I really do not worry about. My parents are in their mid-90's and they are still very capable of handling their finances. They have things set up so that assets(other than car and house) will TOD or POD. The car and the house can be sold and handled by their ...
by bengal22
Mon May 29, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding the Hassle Factor - Vanguard, Schwab, or Fidelity?
Replies: 52
Views: 5483

Re: Avoiding the Hassle Factor - Vanguard, Schwab, or Fidelity?

I like both Fidelity and Vanguard(split is 66/34 Fidelity). Both have very similar index funds. I do like the Fidelity CC for the 2% cash back. I for one like the idea of not having all of my funds at one company(unfounded concern or not).
by bengal22
Sun May 28, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: When to start talking to older parents regarding their finances (and how to do it?)
Replies: 37
Views: 4230

Re: When to start talking to older parents regarding their finances (and how to do it?)

My parents are both 94 and I anticipate they will talk to me about finances soon.
by bengal22
Tue May 23, 2017 2:34 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity and their "free advisor" service?
Replies: 34
Views: 3465

Re: Fidelity and their "free advisor" service?

When these threads appear there are usually two basic opinions: those that dislike Fidelity advisers and those that have had good experiences with them. I for one have Fidelity and have had several meetings with their advisers and I have always appreciated their input. But I have enough self confide...
by bengal22
Tue May 23, 2017 2:28 pm
Forum: Investing - Theory, News & General
Topic: Bloomberg hit piece - Vanguard's Irritating Perch on the Moral High Ground
Replies: 52
Views: 8042

Re: Bloomberg hit piece - Vanguard's Irritating Perch on the Moral High Ground

I for one never bought into the whole Vanguard is owned by mutual fund owners. It really never made sense to make my investment decision based on that marketing pitch. But I invest with Vanguard because they are one of the best mutual fund providers around: low cost index funds. That is all I need t...
by bengal22
Sun May 21, 2017 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Investing FOR Retirement vs Investing IN Retirement
Replies: 25
Views: 2663

Re: Investing FOR Retirement vs Investing IN Retirement

No real difference for me. I have made my AA a little more conservative(55-45 stocks). So far my portfolio has still been growing due to appreciation. My biggest strategy is how to minimize taxes by deciding where to pull assets needed beyond pension, wife's SS, and dividends.
by bengal22
Wed May 17, 2017 8:25 am
Forum: Investing - Help with Personal Investments
Topic: Article: "Our emergency fund is exactly $0.00"
Replies: 73
Views: 8217

Re: Article: "Our emergency fund is exactly $0.00"

I think that the decision to have an emergency fund is based upon the individual's personality. I do not have an emergency fund but as one poster said I can convert my taxable assets to cash within 2 days. I am retired now but I never felt the need to have an emergency fund when I worked. I never li...
by bengal22
Sun May 14, 2017 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: How many firms do you use?
Replies: 39
Views: 3041

Re: How many firms do you use?

Fidelity 2/3
Vanguard 1/3

Don't like all my eggs in one basket.
by bengal22
Sun May 07, 2017 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: Small cap value tilt portfolio review
Replies: 25
Views: 2307

Re: Small cap value tilt portfolio review

For me the key to tilting is to first have the 3 fund portfolio: Total Stock Market, Total Bond Market, and Total Stock International. This should be set up after you have your Portfolio Allocation. In my case 60% Stock(20% of this piece is international), 40% Bonds/Fixed Assets. That gives me my ba...
by bengal22
Thu May 04, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do you know exactly what % of income you spend?
Replies: 48
Views: 3849

Re: Do you know exactly what % of income you spend?

Being retired I spend all of it. But because my portfolio continues to appreciate and I pay down my mortgage, my net worth(which to me is the most important number) increases.
by bengal22
Thu May 04, 2017 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Helping Relatives with Inheritance for Minors
Replies: 11
Views: 1311

Re: Helping Relatives with Inheritance for Minors

I would mail a check to the 5th sibling and let him divide up the funds as he chooses.
by bengal22
Thu May 04, 2017 2:15 pm
Forum: Investing - Theory, News & General
Topic: Morningstar article--Service Complaints Aside, Investors See Value at Vanguard
Replies: 10
Views: 962

Re: Vanguard Servicing

1). Vanguard has an excellent array of low costs, index and non-index mutual funds. 2). I have about 30% of my funds at Vanguard and have been a customer since the early 80"s. 3). From my experience, Vanguard has always been subpar at customer service. The range of expertise with the people tha...