Search found 522 matches

by lhl12
Sat Jan 21, 2017 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: want to leave EJ but dont know what to do with what currently have
Replies: 21
Views: 1411

Re: want to leave EJ but dont know what to do with what currently have

Welcome! You have definitely come to the right place to figure all this out. There will be a lot of jargon ()like "ER") that will not be obvious to you at first. Don't worry about that at all. Ask questions about anything you don't understand or that is not clear. We tend to use a shorthan...
by lhl12
Fri Jan 20, 2017 8:38 am
Forum: Investing - Help with Personal Investments
Topic: How to factor pension into asset allocation?
Replies: 18
Views: 1242

Re: How to factor pension into asset allocation?

If you ignore the pension until it is fully vested, you will be following an absolute approach rather than a probabilistic approach. This might fit with your risk tolerance, but you should be aware of what you are doing. I believe the better way to handle this is to be mindful that you have this add...
by lhl12
Sat Jan 14, 2017 3:44 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa 2% cash back
Replies: 73
Views: 7872

Re: Fidelity Rewards Visa 2% cash back

I happily used the old version of the Fidelity card (from FIA, a division of B of A) for many years. I switched to the B of A Travel Rewards card a year or so ago because it offers a higher rebate percentage (2.625% vs Fidelity's 2.00%). I subsequently upgraded to the new version of the Fidelity car...
by lhl12
Wed Jan 11, 2017 4:36 am
Forum: Investing - Help with Personal Investments
Topic: [403(b) Fidelity or TIAA Cref allocation, and do I want one?]
Replies: 137
Views: 5020

Re: EJ not [costing me as much as] others?

To answer a specific question which I don't believe has been answered yet: Once a front end load has been paid, it is a sunk cost. It immediately reduces the value of your account at inception, but after that it has no impact. So, you can ignore any front end loads that you have already paid. The on...
by lhl12
Thu Jan 05, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 2476

Re: How to approach getting new wills, trusts, with a blended family

Based on the current ages of you and your wife, what is the difference in your actuarial life expectancy? Said another way, if you and your wife both live to your exact actuarial ages, for how long will one of you outlive the other (and which one)? Not based on any tables, but rather on health and ...
by lhl12
Thu Jan 05, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 2476

Re: How to approach getting new wills, trusts, with a blended family

Based on the current ages of you and your wife, what is the difference in your actuarial life expectancy? Said another way, if you and your wife both live to your exact actuarial ages, for how long will one of you outlive the other (and which one)?
by lhl12
Thu Jan 05, 2017 5:04 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America Rewards Credit Cards - Worth it?
Replies: 18
Views: 1860

Re: Bank of America Rewards Credit Cards - Worth it?

Coato wrote:Sounds good if you get to apply points to independent charges.

Question on the cash back version: do you need to redeem monies into a b of a account or can they be applied to statement?

They can be applied to your statement.
by lhl12
Wed Jan 04, 2017 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America Rewards Credit Cards - Worth it?
Replies: 18
Views: 1860

Re: Bank of America Rewards Credit Cards - Worth it?

To be clear (if it wasn't already) the B of A Travel Rewards card doesn't require you to book through their travel portal to get charges eligible for the travel credit. They have a pretty broad definition of travel-eligible charges from third parties and I have never seen a charge that I thought sho...
by lhl12
Sat Dec 31, 2016 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy the next-door lot - and finance?
Replies: 14
Views: 1835

Re: Should I buy the next-door lot - and finance?

I was in a similar situation. I tried to buy the adjacent lot but got outbid by someone who wanted to develop it (and who eventually did, with something horrible next door that impacted my experience with my property significantly). I have always regretted that outcome. The real question is affordab...
by lhl12
Thu Dec 29, 2016 12:46 am
Forum: Personal Finance (Not Investing)
Topic: Are there any benefits to achieving "great wealth"?
Replies: 106
Views: 8012

Re: Are there any benefits to achieving "great wealth"?

Give some to charity. If you are FIRE, then volunteer your time to a worthy cause. this, of course, is my humble opinion. Surprised this was the only such suggestion out of 15 posts. So, I will heartedly second it! If you've gotten to the point that all of your needs (and your family's) are covered...
by lhl12
Sun Dec 25, 2016 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Question about trusts & estate
Replies: 40
Views: 3427

Re: Question about trusts & estate

By the way, I would preface all these questions with "I don't understand what I am being asked to do here or why. Please explain how this trust works, how my father's estate plan is set up, and why this proposed change is important. Once I understand how and why things are set up the way they a...
by lhl12
Sun Dec 25, 2016 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Question about trusts & estate
Replies: 40
Views: 3427

Re: Question about trusts & estate

Here are some questions I would ask your mother's attorney: 1. If I do as you are advising me to do, (a) what benefits does my mother receive and (b) what benefits do I receive? 2. If I decline to do what you are advising me to do, (a) what costs does my mother incur and (b) what costs do I incur? 3...
by lhl12
Wed Dec 21, 2016 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: How do you track your finances?
Replies: 79
Views: 6200

Re: How do you track your finances?

I started with "Managing Your Money by Andrew Tobias", a quirky DOS-based program that I always had a soft spot for. When MYM eventually died because it never transitioned successfully to Windows, I switched to Microsoft Money. Again, a little quirky but did a great job and I was happy wit...
by lhl12
Sun Dec 18, 2016 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Best cash-back credit card for a small business?
Replies: 1
Views: 138

Best cash-back credit card for a small business?

What is the current Boglehead thinking for the best cash-back credit card for a small business (6-8 cardholders)? I currently use B of A Travel Rewards for personal charges and get 2.625% back (as a travel credit) on all purchases. What business card would be closest to this? I don't feel strongly a...
by lhl12
Tue Nov 29, 2016 4:06 am
Forum: Personal Consumer Issues
Topic: Bookkeeping/Accounting Book
Replies: 10
Views: 1532

Re: Bookkeeping/Accounting Book

"Essentials of Accounting" by Robert Anthony is a great programmed instruction book to learn the basic concepts of financial accounting. This book isn't specifically about bookkeeping - it's intended to teach someone with no background about how financial statements work. After working thr...
by lhl12
Sun Nov 27, 2016 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Wealthy aunt is willing to allow me borrow $$ for medical school. How to best approach this?
Replies: 70
Views: 7541

Re: Wealthy aunt is willing to allow me borrow $$ for medical school. How to best approach this?

You would presumably qualify for a third party loan for medical school in the full amount required. This loan would bear interest at commercial rates. Your aunt is willing to lend you the same amount of money at an interest rate of zero, but with the expectation that you will repay her principal in ...
by lhl12
Tue Nov 15, 2016 5:03 pm
Forum: Investing - Theory, News & General
Topic: Would the fed have to print money to pay our debts if we couldn't borrow anymore?
Replies: 14
Views: 1146

Re: Would the fed have to print money to pay our debts if we couldn't borrow anymore?

People's willingness to lend our government money is first and foremost a function of the rate of interest paid. Your hypothetical is not very realistic. Much more likely is that the cumulative weight of government borrowing over time would drive interest rates steadily higher, as the perceived det...
by lhl12
Tue Nov 15, 2016 4:27 pm
Forum: Investing - Theory, News & General
Topic: Would the fed have to print money to pay our debts if we couldn't borrow anymore?
Replies: 14
Views: 1146

Re: Would the fed have to print money to pay our debts if we couldn't borrow anymore?

People's willingness to lend our government money is first and foremost a function of the rate of interest paid. Your hypothetical is not very realistic. Much more likely is that the cumulative weight of government borrowing over time would drive interest rates steadily higher, as the perceived dete...
by lhl12
Mon Oct 31, 2016 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for My Father -Inheritance Plan Options
Replies: 17
Views: 1721

Re: Advice for My Father -Inheritance Plan Options

Your father (and his wife) are both relatively young and one or both could live for several decades. Most importantly, whatever plan your father (and his estate planning attorney) implement will almost certainly require revision along the way. It is essential that after the plan gets created and imp...
by lhl12
Thu Oct 27, 2016 9:32 am
Forum: Personal Consumer Issues
Topic: Mr. Money Mustache donates $100k to charity, writes about effective altruism
Replies: 100
Views: 10558

Re: Mr. Money Mustache donates $100k to charity, writes about effective altruism

Are there any charitable organizations that Bogleheads are familiar with that focus on financial literacy? I know that the Bogleheads foundation itself does that but I was wondering if there are any others that go out into schools or sponsor programs to help educate people in basic financial literacy.
by lhl12
Mon Aug 29, 2016 5:06 am
Forum: Personal Finance (Not Investing)
Topic: Optimal timing after death to liquidate estate?
Replies: 21
Views: 1824

Re: Optimal timing after death to liquidate estate?

His mother's will specifies that her assets are to be divided equally (in trust) among her four children. If the trust exists now, and the executor is already a co-trustee, then an immediate sale is possible. If the trust is created by her death, or it exists but the executor is not yet a trustee, ...
by lhl12
Sat Aug 27, 2016 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Optimal timing after death to liquidate estate?
Replies: 21
Views: 1824

Re: Optimal timing after death to liquidate estate?

It is usually considered improper for the personal representative or trustee to place the beneficiaries at risk by speculating on the market. He could be held personally liable for losses incurred without consent of the beneficiaries. I have always followed the practice of immediately liquidating t...
by lhl12
Sat Aug 27, 2016 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Optimal timing after death to liquidate estate?
Replies: 21
Views: 1824

Optimal timing after death to liquidate estate?

The very elderly mother of a friend (let's call him Fred) is terminally ill, with her passing expected soon. Fred is one of four adult children whose father is already deceased. Fred is co-executor of his mother's estate (with one of his siblings). His mother's will specifies that her assets are to ...
by lhl12
Fri Aug 19, 2016 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Could I use a Donor Advised Fund as an alternative retirement vehicle?
Replies: 46
Views: 3537

Re: Could I use a Donor Advised Fund as an alternative retirement vehicle?

I started a 501c3 non profit organization several years ago and have been putting a lot of my free time as well as a substantial amount of funds into the organization's activities in community health work. As my income from a separate job goes up into the 200-400k per year range I have thought abou...
by lhl12
Fri Aug 19, 2016 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Could I use a Donor Advised Fund as an alternative retirement vehicle?
Replies: 46
Views: 3537

Re: Could I use a Donor Advised Fund as an alternative retirement vehicle?

Another issue you would face is that your 501c3 is chartered as a corporation under some state's law. It has presumably received a Federal tax exemption from the IRS, making donations to it tax-deductible (and therefore eligible from the DAF), but it remains subject to oversight and regulation from ...
by lhl12
Thu Aug 18, 2016 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Gifting whole estate in life
Replies: 77
Views: 4962

Re: Gifting whole estate in life

This is a terrible, terrible idea, for all the reasons listed above and more besides. There are lots of strong reasons not to do this and no good reasons to do it that can't be gotten around via simple estate planning. The right configuration is a Revocable Trust during your dad's lifetime, into whi...
by lhl12
Thu Aug 11, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-nup questions
Replies: 35
Views: 4541

Re: Pre-nup questions

Let's assume these two people are getting married because they want to be together for a long time. Having their home be only 'her' house is fraught with divisive emotional and financial mine fields - they want it to be theirs. Having him buy in and then foot half the bill for upkeep, expenses and ...
by lhl12
Thu Aug 11, 2016 11:12 am
Forum: Personal Consumer Issues
Topic: Recommend some nice, comfy mens work socks
Replies: 16
Views: 880

Re: Recommend some nice, comfy mens work socks

Is your desk job at a company that owns a chain of Tex-Mex restaurants? If so:

http://www.tonsofsocks.com/tapatio.html ... AhIY8P8HAQ
by lhl12
Thu Aug 11, 2016 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Pre-nup questions
Replies: 35
Views: 4541

Re: Pre-nup questions

b. How should she deal with her house (both legally and especially economically) in light of the fact that the new husband will be moving in with her? I thought he should buy half from her and have it become a joint asset, but would appreciate others' views. Why complicate things? Since she owns th...
by lhl12
Thu Aug 11, 2016 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Pre-nup questions
Replies: 35
Views: 4541

Re: Pre-nup questions

A few points of clarification: 1. She most definitely will have a pre-nup. That is not a question. 2. It is definitely her intent to maintain her assets separately and ultimately to have whatever's left go to her kids. Also not a question. 3. Given 1 and 2 above, the real questions are: a. Is an est...
by lhl12
Thu Aug 11, 2016 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Pre-nup questions
Replies: 35
Views: 4541

Pre-nup questions

A female friend (age 53) is getting remarried and has asked for my advice regarding her post-remarriage financial arrangements and pre-nup. State of residence is CT. She has a net worth of about $4 million -- $3.2 million at Vanguard (about $3 million taxable and $0.2 million in an IRA) and owns her...
by lhl12
Tue Aug 09, 2016 12:29 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - why don't I 'feel' good about them?
Replies: 36
Views: 3870

Re: Vanguard - why don't I 'feel' good about them?

At both firms I have accounts of my own and accounts of various family members whom I have referred. I definitely prefer Fidelity and if I were starting from scratch I would have everything at Fidelity. Having said that, Vanguard is certainly workable (especially since I know their website and know ...
by lhl12
Sat Jul 30, 2016 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Quickbooks Enterprise for sole proprietor - overkill?
Replies: 5
Views: 592

Re: Quickbooks Enterprise for sole proprietor - overkill?

My situation is similar, though slightly more complex (three individuals in different locations accessing the QBE file, two LLC's. I think QBE is fantastic. I started with QuickBooks Online but it couldn't handle everything I wanted to do and since I made the switch several years ago have never look...
by lhl12
Fri Jul 29, 2016 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Chubb v. AIG homeowners coverage
Replies: 9
Views: 787

Re: Chubb v. AIG homeowners coverage

I switched all my insurance from Chubb to AIG a few years ago, for cost reasons (AIG's aggregate premiums were about 10% - 15% cheaper if I recall correctly). I haven't had any claims so I can't help you with claims experience, though. My general philosophy is to carry very high deductibles and to s...
by lhl12
Sat Jul 23, 2016 8:50 am
Forum: Personal Finance (Not Investing)
Topic: How many folks choose to give inheritance to their children in unequal portions?
Replies: 193
Views: 18080

Re: How many folks choose to give inheritance to their children in unequal portions?

I have a son who is doing well and a daughter who struggles. I'm seriously considering changing the trust so she gets the house for herself. I have no idea how much money will be left so it could be very uneven when it happens. Still, we think it will make us feel better knowing she'll have a home ...
by lhl12
Sun Jul 17, 2016 4:43 pm
Forum: Personal Consumer Issues
Topic: Kitchen Faucet & Sink recommendations?
Replies: 36
Views: 2346

Re: Kitchen Faucet & Sink recommendations?

Typically I would go with just the nice faucet, but in this situation I'd throw in the kitchen sink as well.
by lhl12
Fri Jul 15, 2016 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money as a legacy after death
Replies: 15
Views: 1177

Re: Leaving money as a legacy after death

A trust is the way to carry out your wishes, but the trust doesn't need to be created until your death, as part of your Will. Your estate planning attorney would draft the terms of that trust now, including specifying how much of your estate went into that trust and how much went elsewhere. Then, af...
by lhl12
Wed Jul 13, 2016 8:37 pm
Forum: Investing - Help with Personal Investments
Topic: Term Life
Replies: 4
Views: 587

Re: Term Life

It seems premature to me for you to get life insurance, even term. You don't have anyone depending on your income for their support, which would be the typical reason to insure yourself. If you marry the person with three kids then it might be a different story, but I would wait until that situation...
by lhl12
Sun Jul 10, 2016 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: Bank of America - Merrill Edge vs. Vanguard
Replies: 27
Views: 3524

Re: Bank of America - Merrill Edge vs. Vanguard

I'm not sure what the Platinum Honors program is, but if you have $100,000 of assets in Merrill Edge (which you can satisfy by holding a Vanguard ETF there) then you qualify for the maximum rebate on the Bank of American Travel Rewards Visa card -- 2.625% unlimited cash back. This may not be a big d...
by lhl12
Sun Jul 10, 2016 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity 2% CC or Citi double cash card?
Replies: 44
Views: 5670

Re: Fidelity 2% CC or Citi double cash card?

The Bank Of America Travel Rewards card has 0% foreign transaction fee and provides 2.625% on all purchases, assuming you maintain a "Platinum Honors" relationship with BofA. This requires a minimum of $100k across savings/checking and investments (such as a Vanguard ETF). The only caveat...
by lhl12
Sat Jul 09, 2016 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Nortwestern Whole Life Issue
Replies: 6
Views: 951

Re: Nortwestern Whole Life Issue

White Coat Investor wrote:40 years? I mean, run the numbers but it is almost surely worth keeping.


Agreed - at this point your payments into the policy will likely earn a higher fixed income return than you can earn anywhere else. You should definitely incline towards keeping the policy for the remainder of your life.
by lhl12
Thu Jun 30, 2016 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Boston area teardown bubble? Sign of a housing downturn ahead?
Replies: 74
Views: 4914

Re: Boston area teardown bubble? Sign of a housing downturn ahead?

Teardowns increase the supply of larger houses and decrease the supply of smaller houses. Supply and demand forces will then compress the price range (basically causing small houses to appreciate faster than large houses). This creates an imbalance that is not a good thing for society, as those who...
by lhl12
Thu Jun 30, 2016 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Boston area teardown bubble? Sign of a housing downturn ahead?
Replies: 74
Views: 4914

Re: Boston area teardown bubble? Sign of a housing downturn ahead?

What makes you think the constraints are always artificial? In most of the town's inside 128 we are discussing, there simply is NO open land left to develop, unless you want to start razing parks and conservation land. Roads, utilities and water supply are also overtaxed as well with the existing p...
by lhl12
Thu Jun 23, 2016 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Recommendations?
Replies: 22
Views: 3222

Re: Credit Card Recommendations?

The Bank of America Travel Rewards Visa pays 2.625% back (with no limit) as a statement credit (offsetting travel purchases) if you meet their requirements to earn the 75% bonus rebate.
by lhl12
Sat Jun 18, 2016 5:14 pm
Forum: Investing - Help with Personal Investments
Topic: not quite typical: seeking guidance in a non-straightforward situation
Replies: 37
Views: 3891

Re: not quite typical: seeking guidance in a non-straightforward situation

The advantage of the complex, perhaps cumbersome, self-loan plan is -- the interest ultimately goes to us again. This may be true, but is not the whole picture. Let's say you "borrow" $50,000 from your pension plan for three years at a 3% rate of interest, then pay yourself back in full a...
by lhl12
Sat Jun 18, 2016 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their owners title insurance?
Replies: 13
Views: 1861

Who has needed to use their owners title insurance?

Inspired by a similar thread on umbrella insurance, I thought I would pose the same question regarding owners title insurance. Who has ever actually made a claim own their owner's title policy? What were the circumstances and how did things work out?
by lhl12
Sat Jun 18, 2016 3:31 am
Forum: Investing - Help with Personal Investments
Topic: not quite typical: seeking guidance in a non-straightforward situation
Replies: 37
Views: 3891

Re: not quite typical: seeking guidance in a non-straightforward situation

it seems to me that you have some unnecessary complexity in your financial structure that might benefit from simplification. Do you still really need your corporation? Why not shut the whole thing down, converting your 401k into an IRA? Even if you keep the corporation itself to shield you from liab...
by lhl12
Fri Jun 17, 2016 12:03 pm
Forum: Investing - Theory, News & General
Topic: What's the ideal safe retirement net worth target?
Replies: 162
Views: 18473

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

1) Your house absolutely can be spent in retirement. It can be borrowed against, or it can be sold and used to pay rent (which obviously adds to your expenses). There's no rule that your kids need to inherit their childhood home when you kick the bucket. This is a very important point, and relevant...
by lhl12
Tue Jun 14, 2016 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Timing of updates to SSA.GOV
Replies: 8
Views: 1197

Re: Timing of updates to SSA.GOV

As a followup to my original post, I got an email from SS today with a subject line "Annual Reminder to Review Your Social Security Statement". When I logged into ssa.gov, I noticed that my earnings record had been updated to include all my 2015 data. I'm not sure how typical this timing i...

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