Search found 463 matches

by lhl12
Tue May 17, 2016 6:56 am
Forum: Investing - Help with Personal Investments
Topic: College Planning
Replies: 4
Views: 355

Re: College Planning

You should continue to add to the 529's.
by lhl12
Mon May 16, 2016 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Rich But Middle Class
Replies: 233
Views: 20771

Re: Rich But Middle Class

I also find it curious that people think living in a wealthy community is a negative in terms of the constant pressure to compare and compete materially, but don't give any mention as to how surrounding oneself with financially successful people may help one to stretch to reach goals and objectives...
by lhl12
Mon May 16, 2016 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Rich But Middle Class
Replies: 233
Views: 20771

Re: Rich But Middle Class

We'd ideally like to stay in this area and raise our girls here if we can continue to make it work financially. While there are pros and cons to every place, we feel there would be great benefits to growing up in a vibrant, diverse and sophisticated area, rich with history and tradition. We also li...
by lhl12
Sun May 15, 2016 3:19 pm
Forum: Investing - Theory, News & General
Topic: AUM Fees: Who Pays Taxes, and How?
Replies: 19
Views: 1264

Re: AUM Fees: Who Pays Taxes, and How?

In most cases if you have the ability to pay the fee from outside the tax-sheltered account, you should. Most high-fee advisors give you the ability to do this if you want - you just need to tell them to send you a bill (which you then pay from taxable funds) instead of them taking the funds from yo...
by lhl12
Fri May 13, 2016 7:13 am
Forum: Investing - Help with Personal Investments
Topic: Intra-Family Mortgage INSTEAD of Investing
Replies: 27
Views: 1926

Re: Intra-Family Mortgage INSTEAD of Investing

I don't know the commercial mortgage market well, but it surprises me a little bit that you couldn't do better than 6% on a loan from a bank. Has your mom shopped around for the best possible deal from other banks?
by lhl12
Wed May 11, 2016 12:42 pm
Forum: Investing - Theory, News & General
Topic: Central States Pension fund, what happens now?
Replies: 12
Views: 1994

Re: Central States Pension fund, what happens now?

Well my wife is currently drawing a Central States pension. She has been receiving letters and worrying about that pension going down for years. Thankfully it is the smaller of her two pensions so it will not hurt us bad. But it still bothers us that she invested in this plan for 30+ years and now ...
by lhl12
Tue May 10, 2016 3:20 pm
Forum: Investing - Theory, News & General
Topic: public pension plan unfunded liabilities
Replies: 64
Views: 6858

Re: public pension plan unfunded liabilities

As to our list, it's now 11, including two with very high ratings because of their high pension obligations. Illinois Kentucky Connecticut Louisiana Hawaii Alaska Massachusetts—even though AAA Maryland-even though AAA New Jersey Pennsylvania Rhode Island Let me make sure I understand. Are you sayin...
by lhl12
Tue May 10, 2016 9:37 am
Forum: Investing - Theory, News & General
Topic: Central States Pension fund, what happens now?
Replies: 12
Views: 1994

Re: Central States Pension fund, what happens now?

Here is a link to the PBGC's FAQ's on the 2014 law that reformed multi-employer plans:

http://www.pbgc.gov/prac/pg/mpra/kline- ... -faqs.html
by lhl12
Tue May 10, 2016 8:51 am
Forum: Investing - Theory, News & General
Topic: public pension plan unfunded liabilities
Replies: 64
Views: 6858

Re: public pension plan unfunded liabilities

gasman I am not only comfortable it's what I am doing, just very careful to screen out the bad from the good, not throwing out the baby with the bathwater. We buy/ I Buy AAA/AA rated GOs and Essential service revenue bonds from the other 41 states. And we carefully monitor the credit rating and how...
by lhl12
Tue May 10, 2016 8:42 am
Forum: Investing - Theory, News & General
Topic: Central States Pension fund, what happens now?
Replies: 12
Views: 1994

Re: Central States Pension fund, what happens now?

The Central States Pension fund is a form of pension fund called a "multi-employer plan". These types of plans have been much much more likely to have problems than other types, and Congress passed legislation a couple of years ago to help deal with them. Congress could of course decide to...
by lhl12
Mon May 09, 2016 2:06 pm
Forum: Personal Consumer Issues
Topic: Wine Buying, Rating, Storage Guides and Apps
Replies: 26
Views: 1771

Re: Wine Buying, Rating, Storage Guides and Apps

For tracking what you own, I'm a big fan of CellarTracker. Their website, iPad app, and iPhone app are all quite good.
by lhl12
Thu May 05, 2016 7:06 am
Forum: Personal Consumer Issues
Topic: Sci-Fi ... your favorite movies and episodes??
Replies: 145
Views: 11950

Re: Sci-Fi ... your favorite movies and episodes??

For those who are fan's of Frank Herbert's "Dune", you might also watch "Jodorowsky's Dune", which is an extraordinary documentary of Alejandro Jodorowsky's attempt to make "Dune" into a movie in the 70's. The cast was to include, among others, Salvador Dali, Orson Well...
by lhl12
Wed May 04, 2016 9:02 pm
Forum: Personal Consumer Issues
Topic: Sci-Fi ... your favorite movies and episodes??
Replies: 145
Views: 11950

Re: Sci-Fi ... your favorite movies and episodes??

While we're on Miyazaki, let's not forget Princess Mononoke, Howl's Moving Castle, and Spirited Away. All are fantastic. More fantasy than sci-fi, but definitely worth watching.

Also a +1 for Buckaroo Banzai - I thought I was the only one waiting for the sequel!
by lhl12
Tue May 03, 2016 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

(by the way, I'm not suggesting that the trust automatically begin distributing at 4% annually. It would be best to leave some margin of error in that rate, even if his reverse mortgage is presently a 30 year instrument. I don't know the details of how reverse mortgages work, but he could presumably...
by lhl12
Tue May 03, 2016 6:04 am
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

Putting yourself in his shoes for a moment, he has three basic assets -- his house, his social security income stream, and his trust. He presumably has no desire to leave an estate, so the primary issue is to make sure he doesn't run out of money during the remainder of his lifetime. Through his rev...
by lhl12
Mon May 02, 2016 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

A couple of additional questions - what is the value of his house and what are the terms of the reverse mortgage on it?
by lhl12
Mon May 02, 2016 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

Still wondering the answers to these questions, which likely affect the way things could/should be done:

1) how old are you?
2) who replaces you as trustee if you die before he does or if you resign?
3) what happens to the trust corpus upon his death if he dies childless?
by lhl12
Fri Apr 29, 2016 4:10 pm
Forum: Investing - Theory, News & General
Topic: The 1 website you'd recommend
Replies: 27
Views: 4200

Re: The 1 website you'd recommend

For general news and information on the economy, finance, and global matters, I think all of the following are excellent: http://www.economist.com -- the website for "The Economist" magazine. http://www.wsj.com -- the Wall Street Journal http://www.ft.com -- the Financial Times http://www....
by lhl12
Tue Apr 26, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

Is the trust allowed to buy an annuity with some of the assets? .... See this case in Minnesota on this: https://mn.gov/law-library-stat/archive/ctapun/2014/opa132295-120814.pdf. Very interesting. Thank you. Seems the answer is yes, but that does not mean you can't be sued, and even if the trustee ...
by lhl12
Tue Apr 26, 2016 3:42 am
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

Rodc, That is an interesting idea. Could not run out of cash, income definitely not available until the annuity pays it out, predictable cash flow. I would need to figure out how much a home might cost and compare to what it would cost to get an annuity that pays the same amount. Thanks Let's assum...
by lhl12
Tue Apr 26, 2016 3:21 am
Forum: Personal Finance (Not Investing)
Topic: Advice for new trustee, distributions
Replies: 57
Views: 3317

Re: Advice for new trustee, distributions

A few questions: 1) how old are you, 2) who replaces you as trustee if you die before he does or if you resign, and 3) what happens to the trust corpus upon his death if he dies childless?
by lhl12
Mon Apr 25, 2016 7:35 am
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation and Profit Sharing
Replies: 4
Views: 321

Re: Asset Allocation and Profit Sharing

Hello everyone long time listener, first time caller. I work for a private company that would be considered large cap. In addition to my 401k they also have a profit sharing plan where each year they deposit 8.5% of my gross pay into a retirement plan. The only problem is it is deposited as company...
by lhl12
Thu Apr 21, 2016 5:31 am
Forum: Investing - Help with Personal Investments
Topic: How to think about cash balance plan?
Replies: 1
Views: 277

Re: How to think about cash balance plan?

Having considered the same question, my own view is that CBP's should be included in one's AA as part of the fixed income allocation. If interest rates rise above 4% and your plan's return is capped at 4% then perhaps you will need to discount its value slightly, but it still will perform like a fix...
by lhl12
Wed Apr 20, 2016 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Updating to "New" Vanguard Accounts
Replies: 9
Views: 1488

Re: Updating to "New" Vanguard Accounts

Ditto - I would like to upgrade, but haven't been invited. Is there some way to force the upgrade myself?
by lhl12
Wed Apr 13, 2016 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Inherited Real Estate, Three Beneficiaries, and Plots
Replies: 11
Views: 1089

Re: Inherited Real Estate, Three Beneficiaries, and Plots

It might be possible to negotiate a lower commission than 6%, especially if the listing broker ends up getting both sides of the transaction. The lower the commission, the weaker brother's proposal becomes (not that it was strong to begin with). Regardless, what the brother is proposing is a disaste...
by lhl12
Sun Apr 10, 2016 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: One Home in Tax Free State. Second Home in Taxed State??
Replies: 12
Views: 1555

Re: One Home in Tax Free State. Second Home in Taxed State??

If you never lived in the US (say you were born in Canada to US citizens and lived there your whole life before commencing work) I don't know what would happen. You would still need to pay taxes. IRS recently extorted taxes from the mayor of London, Boris Johnson. He migrated to US at age of five (...
by lhl12
Sun Apr 10, 2016 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: One Home in Tax Free State. Second Home in Taxed State??
Replies: 12
Views: 1555

Re: One Home in Tax Free State. Second Home in Taxed State??

I wonder if it is possible to actually have no state taxable income in the US if you spend six months in Canada and spend the rest of the year travelling in the US or internationally. Further, you don't vote and don't own any real estate (other than the possible home in Canada)? The premise is that...
by lhl12
Sun Apr 10, 2016 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: One Home in Tax Free State. Second Home in Taxed State??
Replies: 12
Views: 1555

Re: One Home in Tax Free State. Second Home in Taxed State??

You should consult with an attorney who specializes in state and local taxation in the state which has an income tax (in your case, California) to advise you, since the case law varies state by state. Having said that, in most cases I believe that if you can demonstrate that your state of residency ...
by lhl12
Sat Apr 02, 2016 9:10 am
Forum: Investing - Theory, News & General
Topic: Who needs Money Market accounts any more?
Replies: 55
Views: 6280

Re: Who needs Money Market accounts any more?

SAB wrote:
Leeraar wrote:
SAB wrote:Me.

I get 6.8% in my Money Market rather than 0% in my chequing account...

Where is that MM account?

I am going to bet it's not in the USA.

L.


Good bet


Is it US dollar denominated?
by lhl12
Fri Apr 01, 2016 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Big spenders, anybody successfully downsized?
Replies: 30
Views: 4230

Re: Big spenders, anybody successfully downsized?

We bought our house fairly cheap (relative to our incomes) and spent a lot over the last few years in renovating, which has been completed now. A portion of that expense is included in the 20k mentioned earlier. The cost of the renovation shouldn't be included in your historical budget numbers. Pre...
by lhl12
Fri Apr 01, 2016 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Poor 401K or Roth IRA?
Replies: 7
Views: 498

Poor 401K or Roth IRA?

A friend works for a small company that has a 401k that he just became eligible for after one year at the company. The 401k has no match and the administrator is John Hancock. They offer a JH S&P 500 Index fund and a JH Total Stock Market Index Fund, each with an ER of about 1.15% (which basical...
by lhl12
Thu Mar 31, 2016 6:58 am
Forum: Investing - Help with Personal Investments
Topic: New member seeking investment advice with my current situation
Replies: 10
Views: 1174

Re: New member seeking investment advice with my current situation

Not everyone will agree, but since the rate on the auto loan is almost identical to that on the mortgage, I would allocate all my excess principal payments to the auto loan with the goal of eliminating it entirely as soon as possible. At that point I would then shift all the excess principal payment...
by lhl12
Mon Mar 28, 2016 10:49 pm
Forum: Personal Consumer Issues
Topic: DO I need a landscape architect?
Replies: 13
Views: 1657

Re: DO I need a landscape architect?

And if you know of a reputable architect in around Charlottesville, Va, please recommend. Try going to the website for the American Society of Landscape Architects (http://www.asla.org). They have a "firm finder" database that lets you enter your location and gives you a list of local fir...
by lhl12
Mon Mar 28, 2016 10:47 pm
Forum: Personal Consumer Issues
Topic: DO I need a landscape architect?
Replies: 13
Views: 1657

Re: DO I need a landscape architect?

I am a big fan of separating design from build. I think you get a higher quality result that way, since someone who really knows what they're doing is supervising and administering the work that is being done. So, I would say "yes" to a landscape architect. I have used them multiple times ...
by lhl12
Mon Mar 28, 2016 6:33 am
Forum: Personal Finance (Not Investing)
Topic: Term Insurance Questions
Replies: 6
Views: 552

Re: Term Insurance Questions

I ran your numbers in the calculator here - http://www.terminsurancebrokers.com/instant-quote/life-insurance-quote A 10-year level term policy for a healthy male born in 1960 (roughly equivalent to the one you have now, since it has about 10 years left) runs around $1200/yr. So that price is about ...
by lhl12
Thu Mar 24, 2016 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Safe Withdrawal Rate at different retirement ages?
Replies: 10
Views: 1724

Safe Withdrawal Rate at different retirement ages?

Let's say that I decide that I can retire comfortably at age 65 if I have $2,000,000 in investable assets assuming a SWR of 4% (i.e. $80,000/year in the first year). Now let's say that I hit the $2,000,000 figure at age 55. Am I equally "safe" to retire at that age? Or do I need more than ...
by lhl12
Mon Mar 21, 2016 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Academic Prize and 1099-MISC
Replies: 15
Views: 1286

Re: Academic Prize and 1099-MISC

In my case it was a payment from a neighbor (owned by a development company) for a real-estate matter related to my house that I thought (and that my accountant confirmed after researching) should be treated as a reduction in the basis of my house, not ordinary income. I tried to convince the develo...
by lhl12
Mon Mar 21, 2016 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Academic Prize and 1099-MISC
Replies: 15
Views: 1286

Re: Academic Prize and 1099-MISC

In a similar situation (i.e. a 1099-MISC that my accountant and I both thought should be non-taxable) my accountant recommended reporting the 1099 in the amount issued on my return then also reporting a separate offsetting "phantom" 1099 in an equivalent negative amount, with a footnote or...
by lhl12
Mon Mar 21, 2016 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Will you review my closing costs? PS How do you shop for title insurance?
Replies: 20
Views: 1947

Re: Will you review my closing costs? PS How do you shop for title insurance?

I just looked up TitleForward and their model online. It is interesting what they are trying to. It appears that they have an exclusive arrangement with First American, one of the large insurance companies. It may be that if TitleForward is able to drive enough volume to First American they will be ...
by lhl12
Mon Mar 21, 2016 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Will you review my closing costs? PS How do you shop for title insurance?
Replies: 20
Views: 1947

Re: Will you review my closing costs? PS How do you shop for title insurance?

I'm not familiar with http://www.titleforward.com. It is great that they are willing to cover the various "junk" fees, but in my experience you can do even better than that - sometimes thousands of dollars better. Because they are a large, branded company, I suspect they will be less negot...
by lhl12
Mon Mar 21, 2016 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Will you review my closing costs? PS How do you shop for title insurance?
Replies: 20
Views: 1947

Re: Will you review my closing costs? PS How do you shop for title insurance?

The title insurance premiums themselves are very heavily regulated by the states and impossible to negotiate, in my experience. However, a large portion of the title insurance premium is paid to the escrow agent as a commission - around 50% in most states, I believe. What I have found possible to ne...
by lhl12
Sat Mar 19, 2016 8:19 am
Forum: Personal Finance (Not Investing)
Topic: How Life Insurance Loans Really Work And Why It’s Problematic To “Bank On Yourself” by Michael Kitces
Replies: 37
Views: 3477

Re: How Life Insurance Loans Really Work And Why It’s Problematic To “Bank On Yourself” by Michael Kitces

2) You make sure the policy is non-direct recognition. That way, the policy's cash value continues to grow at the same rate despite the fact that you have borrowed money out of it (technically from the insurance company with the cash value as collateral.) While non-direct recognition policies may p...
by lhl12
Sat Feb 13, 2016 11:22 am
Forum: Personal Consumer Issues
Topic: Charities for Bogleheads?
Replies: 50
Views: 3232

Re: Charities for Bogleheads?

I don't know any of the specifics of the OP's story, but it is easily possible to construct a scenario in which nothing nefarious was going on. Perhaps the ED had taken pay cuts or foregone compensation in prior years to keep the organization afloat. Perhaps the ED did a fantastic job that year (apa...
by lhl12
Wed Feb 10, 2016 9:33 pm
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation at 93
Replies: 2
Views: 425

Re: Asset Allocation at 93

It looks like PRWCX is 60% common stocks, and the remainder fixed income and cash. So, her effective current asset allocation is 17% common stocks and 83% fixed income and cash. If she is currently living comfortably on just social security, then she could theoretically afford to take more risk with...
by lhl12
Tue Feb 09, 2016 5:25 am
Forum: Personal Consumer Issues
Topic: Setting up Internet for a newly constructed house
Replies: 18
Views: 1630

Re: Setting up Internet for a newly constructed house

I'll go beyond what others have suggested. You are not going to have the walls open again, so do what you need to now. I'd run a minimum of 2, prefer 4 CAT-6 home runs to every room from a easily accessible wiring closet. You (or whoever you sell the house to) could later use this for video, audio,...
by lhl12
Sun Feb 07, 2016 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Best 529 for Massachusetts resident?
Replies: 13
Views: 724

Re: Best 529 for Massachusetts resident?

My sister has a Utah plan (with all Vanguard funds), which she thought was the best available at the time she did the research.
by lhl12
Sun Feb 07, 2016 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Please share examples where earning an extra $1 can cost more in taxes than income.
Replies: 49
Views: 6205

Re: Please share examples where earning an extra $1 can cost more in taxes than income.

It's not income tax, but there is an egregious example of this in the Massachusetts estate tax, which is zero for all estates up to $1 million, then becomes 3.32% for an estate valued at $1,000,001. So, for one dollar of incremental value your estate owes $33,200 in tax.
by lhl12
Tue Feb 02, 2016 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Charitable donations as a percentage of AGI?
Replies: 12
Views: 686

Re: Charitable donations as a percentage of AGI?

If your income is uneven, and if you might not always be in the highest bracket from year to year, then it would probably make more sense to make a larger donation to a Donor-Advised Fund in a big year, then make your charitable contributions out of that fund each year. If you will always be in the ...
by lhl12
Thu Jan 28, 2016 9:34 pm
Forum: Forum Issues and Administration
Topic: BOGLEHEADS.COM AND BOGLEHEADS.NET
Replies: 51
Views: 6293

Re: BOGLEHEADS.COM AND BOGLEHEADS.NET

Thank you, Serge, for this pro bono contribution to the Bogleheads!
by lhl12
Tue Jan 26, 2016 2:16 am
Forum: Personal Finance (Not Investing)
Topic: Timing of updates to SSA.GOV
Replies: 7
Views: 860

Re: Timing of updates to SSA.GOV

The two comments above imply that it would be no earlier than 4/15, which makes sense. Does anyone have a good sense of how much later than that date that data typically get updated?

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