Search found 487 matches

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: 172
Views: 12717

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: 1975

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: 1054

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: 515

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: 2145

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: 4887

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: 869

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: 4276

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: 4276

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: 2031

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: 3550

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: 1644

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: 3550

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: 16622

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: 1129

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...
by lhl12
Thu Jun 09, 2016 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: 40, 2 kids, major debt, major income, early retirement?
Replies: 18
Views: 4173

Re: 40, 2 kids, major debt, major income, early retirement?

Since the debt is personally guaranteed, I would aim to pay it down to a level where a bank would then allow you to refinance it on a non-recourse basis (i.e. without a personal guarantee). At that point, my recommendations above would still hold. In general, your asset allocation is skewed very hea...
by lhl12
Wed Jun 08, 2016 9:19 am
Forum: Investing - Help with Personal Investments
Topic: 40, 2 kids, major debt, major income, early retirement?
Replies: 18
Views: 4173

Re: 40, 2 kids, major debt, major income, early retirement?

Is the company's debt personally guaranteed by you, or is it non-recourse? If it is non-recourse, then my recommendation would be to retire the minimum amount of company debt possible each year and to maximize tax-advantaged savings for both yourself and your wife (through some form of retirement ar...
by lhl12
Mon Jun 06, 2016 12:58 am
Forum: Investing - Help with Personal Investments
Topic: Trust fund help
Replies: 6
Views: 718

Re: Trust fund help

What is the beneficiary's current asset allocation account in his or her own investments? I don't know the beneficiary's current asset allocation although suffice it to say it is conservative and the beneficiary is older and probably should not have any real need for distribution from the trust. An...
by lhl12
Thu Jun 02, 2016 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: First mortgage/HELOC vs. Fixed rate mortgage
Replies: 25
Views: 1263

Re: First mortgage/HELOC vs. Fixed rate mortgage

And what is the purchase price of the house and what is the amount you are looking to borrow?
by lhl12
Thu Jun 02, 2016 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: First mortgage/HELOC vs. Fixed rate mortgage
Replies: 25
Views: 1263

Re: First mortgage/HELOC vs. Fixed rate mortgage

In what state is the house?
by lhl12
Mon May 30, 2016 10:04 am
Forum: Personal Consumer Issues
Topic: Is there such thing as easy load front load washer/dryer?
Replies: 30
Views: 2109

Re: Is there such thing as easy load front load washer/dryer?

I don't know why any Boglehead would even consider a front load washer/dryer. Population density in Asia sometimes means you can't afford all the space you want and still save money. We're limited to one machine. We could stack two, but then wouldn't have a place to put dirty clothes and keep deter...
by lhl12
Mon May 30, 2016 8:00 am
Forum: Personal Finance (Not Investing)
Topic: very simple Whole Life question
Replies: 10
Views: 1263

Re: very simple Whole Life question

It's difficult to answer this question properly without knowing all the terms of the trust, the magnitude of the policy, the magnitude and composition of other assets in the trust, the magnitude and composition of assets held by you directly, and the full scope of your parents' estate plan (includin...
by lhl12
Sun May 29, 2016 5:14 am
Forum: Personal Consumer Issues
Topic: Is there such thing as easy load front load washer/dryer?
Replies: 30
Views: 2109

Re: Is there such thing as easy load front load washer/dryer?

I don't know why any Boglehead would even consider a front load washer/dryer. I have only used indexed washers/dryers for many years and am happy with their performance. In fact, I have two washers (one European and one US) and one dryer, for a three washer/dryer portfolio that is simple, geographic...
by lhl12
Thu May 26, 2016 4:30 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 359
Views: 32873

Re: What's Your Credit Card Rewards Strategy?

B of A Travel Rewards card for everything - 2.625% cash back on all purchases. I actually have two of them - one for automated monthly subscription services and one that I carry around.
by lhl12
Tue May 17, 2016 6:56 am
Forum: Investing - Help with Personal Investments
Topic: College Planning
Replies: 4
Views: 391

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: 22611

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: 22611

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: 1379

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: 2110

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: 2071

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: 7221

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: 2071

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: 7221

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: 2071

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: 1906

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: 12652

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: 12652

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: 3552

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: 3552

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: 3552

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: 3552

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: 4349

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: 3552

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: 3552

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: 3552

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: 362

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: 307

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: 1572

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: 1171

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: 1944

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 (...

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