Search found 592 matches

by lhl12
Sun Nov 12, 2017 11:03 am
Forum: Personal Consumer Issues
Topic: Better way to get rid of old fridge?
Replies: 38
Views: 2349

Re: Better way to get rid of old fridge?

You might also consider this approach:

http://dontevenreply.com/view.php?post=50
by lhl12
Tue Oct 31, 2017 5:02 am
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 31
Views: 2971

Re: How to learn about financial statement analysis?

This is my first post. I found this book to be very helpful: Managing by the Numbers by Kremer, Rizzuto, and Case. It explains the relationships between the Balance Sheet, the Income statement, the Cash Flow statement, and the financial ratios, and explains how to run forecasts. Welcome to the forum!
by lhl12
Sat Oct 28, 2017 11:10 am
Forum: Personal Consumer Issues
Topic: Good Modern Science Fiction
Replies: 258
Views: 31780

Re: Good Modern Science Fiction

+1 to the "Ancillary" series ("Ancillary Justice", "Ancillary Sword" and "Ancillary Mercy") by Leckie - outstanding.
by lhl12
Tue Oct 24, 2017 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Attempted theft of bank funds via identity theft
Replies: 19
Views: 2511

Re: Attempted theft of bank funds via identity theft

theplayer11 wrote:
Tue Oct 24, 2017 2:09 pm
op, did you have a freeze with chexsystems?
Not as far as I know.
by lhl12
Tue Oct 24, 2017 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Attempted theft of bank funds via identity theft
Replies: 19
Views: 2511

Attempted theft of bank funds via identity theft

I was recently the attempted victim of a theft of funds from a bank account via identity theft and I thought I would share how the thieves tried to rob me in hopes that it might help others in the future. Through some sort of data breach, the thieves got my full name, SS# and mailing address. They t...
by lhl12
Mon Oct 23, 2017 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2670

Re: Whole Life Policy Analysis

Who owns the policy presently? You? Your parents? a trust? Who is the beneficiary of the policy? Your spouse? Your parents? I own the policy, and the current beneficiaries are my parents and brother. Plan to change to my wife if I keep paying. Does your wife need the insurance? Or is she all set wi...
by lhl12
Mon Oct 23, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2670

Re: Whole Life Policy Analysis

Who owns the policy presently? You? Your parents? a trust?

Who is the beneficiary of the policy? Your spouse? Your parents?
by lhl12
Wed Oct 11, 2017 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Which BoA Credit Card to use?
Replies: 15
Views: 1017

Re: Which BoA Credit Card to use?

I believe the brand new Premium Rewards card is better than either Cash Rewards or Travel Rewards
by lhl12
Wed Oct 11, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Boston area Relocation...major decision points
Replies: 34
Views: 2949

Re: Boston area Relocation...major decision points

I would explore living in Winchester. It is a beautiful little town just south of Woburn. It is nicer than Woburn, a little closer to Boston, and with a Commuter Rail station that will allow you to take the train into Boston if you wish.
by lhl12
Mon Oct 09, 2017 6:35 pm
Forum: Investing - Help with Personal Investments
Topic: Please define "cash"
Replies: 31
Views: 2059

Re: Please define "cash"

I hope this doesn't muddy the waters too much, but it is also worth noting that debt is cash with a negative sign in front of it (as long as it is prepayable at any time without penalty).
by lhl12
Fri Oct 06, 2017 2:55 pm
Forum: Personal Consumer Issues
Topic: How do you value your time?
Replies: 97
Views: 4125

Re: How do you value your time?

Decades ago I consulted a lawyer, and he charged me $250 an hour. I decided that thenceforth I will value my time at the same level. I never did adjust for inflation. Presumably that same lawyer now charges around $500 an hour, but if I need to spend hours chasing something, e.g. an insurance claim...
by lhl12
Wed Oct 04, 2017 1:02 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 16764

Re: $10 million+ - Still Working and LBYM

It’s not an investment if you live in the home Wrong. It’s not an investment if you must continue to live in the home. I beg to differ. You're both wrong. It's not an investment if it doesn't pay you every month. So by default, investing1012 is actually right. Since 401k and IRA don't pay you every...
by lhl12
Tue Oct 03, 2017 3:16 am
Forum: Investing - Help with Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 1738

Re: Whole Life question - when to stop making annual payments?

I calculated the rate of return on the Death Benefit rather than cash value on the theory that he WILL hold the policy until death and the only question is what incremental return he’s earning on the premium (if he continues to make the payments). So, if he dies the day before making the next paymen...
by lhl12
Sun Oct 01, 2017 3:49 pm
Forum: Investing - Help with Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 1738

Re: Whole Life question - when to stop making annual payments?

Does he need life insurance? Will the trust be out of his wife's estate and his children's estates? Did he elect GST exemption or no allocation? No, he does not need life insurance. This trust was set up as an estate planning vehicle. I was not part of the conversation at the time he set it up, oth...
by lhl12
Sun Oct 01, 2017 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 1738

Re: Whole Life question - when to stop making annual payments?

6/7/17 Statement: Death Benefit: $244,417 Cash Value: $154,560 Dividend: $5,890 6/7/16 Statement: Death Benefit: $236,806 Cash Value: $143,689 Dividend: $5,646 The annual premium is $6,716. I calculated the fixed income return as the rate of change in the Death Benefit (not the Cash Value) so the ef...
by lhl12
Sun Oct 01, 2017 8:15 am
Forum: Investing - Help with Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 1738

Re: Whole Life question - when to stop making annual payments?

I agree that he shouldn't have bought the policy to begin with, but that's water under the bridge. The question is what to do from here. My FIL doesn't need the money for the premium payments during his lifetime, so the payments are not a burden. The funds he is using to make the payments are coming...
by lhl12
Sat Sep 30, 2017 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 1738

Whole Life question - when to stop making annual payments?

About 20 years ago, my father-in-law (now age 82) purchased a whole life insurance policy on his life with my mother-in-law (now age 77) as the primary beneficiary and their three children (one of whom is my wife) as secondary beneficiaries at the time of my MIL's death (assuming he predeceases her....
by lhl12
Sat Sep 30, 2017 10:48 am
Forum: Investing - Theory, News & General
Topic: Endowment - Investment & Spending Policy
Replies: 7
Views: 913

Re: Endowment - Investment & Spending Policy

What is the approximate size of each of your three buckets? That might affect the answer. Short-term reserve: $3MM (possibly too large an amount given annual operating budget. But that is another topic for another day.) Long-term Reserve: $4MM Endowment: $5MM I would not establish three separate po...
by lhl12
Wed Sep 27, 2017 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Questions
Replies: 23
Views: 2900

Re: Estate Questions

I would hire a highly experienced trust attorney , in your state, to represent you as a beneficiary. Thanks for the advice. My attorney has looked it over. You need to follow Larry's explicit recommendation. Estate and Trust law is a very complicated specialty, just ask bsteiner. With the amount of...
by lhl12
Wed Sep 27, 2017 9:27 am
Forum: Investing - Theory, News & General
Topic: Endowment - Investment & Spending Policy
Replies: 7
Views: 913

Re: Endowment - Investment & Spending Policy

What is the approximate size of each of your three buckets? That might affect the answer.
by lhl12
Sat Sep 23, 2017 8:39 am
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24885

Re: I won the Lottery. Need sound advice.

My one piece of advice is never to buy lottery tickets in the future - they are a form of voluntary taxation and have a negative expected value. :-)
by lhl12
Mon Sep 18, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: Daughter with Autism and Spouse Almost 13 Years Younger
Replies: 45
Views: 6347

Re: Daughter with Autism and Spouse Almost 13 Years Younger

What is the interest rate on the loan that retires the credit card debt?
by lhl12
Sun Sep 17, 2017 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Pocket money allowance for college student
Replies: 48
Views: 2802

Re: Pocket money allowance for college student

Our son is a sophomore. For his freshman year we gave him $500/month. I wanted to give him $200/month but my wife thought that was too little and suggested $500/month instead. I strenuously objected and stuck with my guns at $200. You can see where we ended up. His bank account is a joint account w...
by lhl12
Sun Sep 17, 2017 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pocket money allowance for college student
Replies: 48
Views: 2802

Re: Pocket money allowance for college student

Our son is a sophomore. For his freshman year we gave him $500/month. I wanted to give him $200/month but my wife thought that was too little and suggested $500/month instead. I strenuously objected and stuck with my guns at $200. You can see where we ended up. His bank account is a joint account wi...
by lhl12
Sat Sep 16, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: "Upper Middle" Class - ditch WLI or ride it?
Replies: 37
Views: 8118

Re: "Upper Middle" Class - ditch WLI or ride it?

Doesn't it feel great to have that car fully paid for and to be debt free? Remember that feeling when you are thinking about trading in for a new car (if you're not able to pay cash for it at that time).
by lhl12
Thu Sep 07, 2017 2:54 pm
Forum: Personal Consumer Issues
Topic: Need Advise On Getting to Patriots Game, Foxborough
Replies: 13
Views: 1173

Re: Need Advise On Getting to Patriots Game, Foxborough

I have taken the train once before and it was great! A few things to be aware of: 1) The train departs from South Station at the specified time, on time, so be sure to get to South Station in plenty of time to make the train. 2) If you want to take the MBTA (the subway) from Back Bay, your best bet ...
by lhl12
Thu Sep 07, 2017 9:44 am
Forum: Investing - Help with Personal Investments
Topic: Don't know where to start at all
Replies: 21
Views: 1785

Re: Don't know where to start at all

Tips are reportable and taxable (including SS and Medicare taxes) to the IRS. Here is one page from the IRS with some info: https://www.irs.gov/businesses/small-businesses-self-employed/tip-recordkeeping-and-reporting This is why I always tip in cash. I hope the server does not report it as income,...
by lhl12
Sat Aug 26, 2017 10:41 am
Forum: Personal Consumer Issues
Topic: Hiring a real estate agent to buy home
Replies: 21
Views: 1789

Re: Hiring a real estate agent to buy home

I always prefer to work through the agent listing the house rather than through a separate agent. That way the agent gets both commissions. This gives them a much stronger incentive to get the deal done with you (rather than with another buyer who has his/her own agent), and makes them willing to re...
by lhl12
Thu Aug 24, 2017 7:59 am
Forum: Personal Consumer Issues
Topic: Non-fiction bucket list
Replies: 110
Views: 9953

Re: Non-fiction bucket list

For those interested in the history of finance and economics, the following are all highly recommended: Niall Ferguson's two volume "biography" of the Rothschild family - "The House of Rothschild". Ron Chernow's "The House of Morgan" Ron Chernow's "Titan" (on John D. Rockefeller and the rise of Stan...
by lhl12
Tue Aug 22, 2017 12:00 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice on Simplifying Large Taxable Retirement Portfolio
Replies: 23
Views: 2900

Re: Seeking Advice on Simplifying Large Taxable Retirement Portfolio

Thank you all for the additional comments and advice. I am very aware of my extremely fortunate position of having much more than I need. There is indeed an important sense where it doesn't matter what I do -- I can keep the lifestyle I want regardless. I suppose my tastes might expand or my circum...
by lhl12
Mon Aug 21, 2017 6:02 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice on Simplifying Large Taxable Retirement Portfolio
Replies: 23
Views: 2900

Re: Seeking Advice on Simplifying Large Taxable Retirement Portfolio

I don't think it's possible to answer your questions well without having a clearer picture of what you want to happen with your assets upon your death. Under current tax law there is a step up in basis that would mean you never have to pay capital gains taxes if you never sell before you die. On the...
by lhl12
Fri Aug 18, 2017 8:43 am
Forum: Investing - Help with Personal Investments
Topic: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio
Replies: 45
Views: 9769

Re: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio

I think it is premature to superfund the 529's. I would wait a year or two and see how things develop. You can make ordinary annual contributions if you'd like but it is very important to maintain maximum financial flexibility until you have greater clarity on your husband's prognosis. If things go ...
by lhl12
Fri Aug 18, 2017 8:29 am
Forum: Investing - Help with Personal Investments
Topic: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio
Replies: 45
Views: 9769

Re: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio

I know this must be overwhelming, but one more thing to put on your to-do list. Do you have an estate/guardianship plan for your kids if something should happen to you? You are understandably focused on your spouse right now, but that is something to have in place just in case. I am so sorry to hea...
by lhl12
Fri Aug 04, 2017 8:13 am
Forum: Investing - Theory, News & General
Topic: Paul Singer Says Passive Investing Is ‘Devouring Capitalism’
Replies: 24
Views: 2977

Re: Paul Singer Says Passive Investing Is ‘Devouring Capitalism’

There is an interesting question here. Ownership of a stock carries with it the right to vote on matters affecting the company. When institutional shareholders own a stock "actively", they are (or should be) keenly interested in matters that come to a vote. If an activist shareholder (e.g. a hedge f...
by lhl12
Wed Jul 26, 2017 2:46 am
Forum: Personal Finance (Not Investing)
Topic: Did you shop for a title company
Replies: 4
Views: 551

Re: Did you shop for a title company

I have had success in the past getting an agent to rebate me part of the commission they receive in order to write the business through them (threatening to move to a different agent if they don't agree to a rebate). You might give this a try, but there is a dollar price for the house (and associate...
by lhl12
Sun Jul 23, 2017 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: Recommendation for Good Book on Personal Financial Planning?
Replies: 15
Views: 2108

Re: Recommendation for Good Book on Personal Financial Planning?

+1 for "How to Make the Most of your Money" by Jane Bryant Quinn - fantastic. Be sure to get the most recent edition.
by lhl12
Thu Jul 20, 2017 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: Considering pension plan in asset allocation
Replies: 37
Views: 1815

Re: Considering pension plan in asset allocation

Question: Should I consider the pension when determining my 80/20 allocation? If so, how? Do I consider it a "bond"? If it were me, I would consider it in the light of how well my pension will cover my eventual living expenses in retirement. Given that, it will indirectly affect how more or less ri...
by lhl12
Thu Jul 20, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: Considering pension plan in asset allocation
Replies: 37
Views: 1815

Re: Considering pension plan in asset allocation

... Because the return is a guaranteed fixed income return (4% in your case) I think it is appropriate to view the entire balance of the plan as part of your fixed income allocation, earning a 4% fixed income return. ... To paraphrase Bill Clinton, that depends on what your definition of "guarantee...
by lhl12
Thu Jul 20, 2017 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: Considering pension plan in asset allocation
Replies: 37
Views: 1815

Re: Considering pension plan in asset allocation

To clarify, I can't just roll the cash balance into a tIRA any time I want - I have to terminate my employment first. As to whether I take the lump sum and roll it over or choose an annuity, that may depend on *when* I leave the company. Since I'm 43, I have a ways to go. A lot can happen between n...
by lhl12
Thu Jul 20, 2017 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Considering pension plan in asset allocation
Replies: 37
Views: 1815

Re: Considering pension plan in asset allocation

By the way, since your cash balance plan earns the greater of 4% or the 10-year Treasury rate, then $1.00 of cash balance is worth more than $1.00 in an IRA only if the 10-year Treasury rate is below 4%. If the 10-year rate rises to 4% (or greater) then $1.00 of cash balance would be identical to $1...
by lhl12
Thu Jul 20, 2017 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Considering pension plan in asset allocation
Replies: 37
Views: 1815

Re: Considering pension plan in asset allocation

I believe one should absolutely consider a cash balance pension plan as part of one's asset allocation. The problem is more complicated when it comes to defined benefit pension plans (although I think there is a plausible argument for those to be treated as part of one's asset allocation as well) bu...
by lhl12
Thu Jul 13, 2017 2:58 pm
Forum: Personal Consumer Issues
Topic: can a city mandate garbage & recycling service? is that legal?
Replies: 36
Views: 2623

Re: can a city mandate garbage & recycling service? is that legal?

All municipalities are created by and are subject to the legal jurisdiction of the state in which they are located. The state is sovereign and has almost total legal authority to manage its counties and municipalities as it sees fit (including dissolving or merging them if it wishes). A good example...
by lhl12
Tue Jul 04, 2017 10:47 am
Forum: Personal Consumer Issues
Topic: Are you finding any good values at Amazon anymore?
Replies: 149
Views: 15123

Re: Are you finding any good values at Amazon anymore?

Two significant advantages with Amazon 1. Ratings - this is worth a lot to me. It isn't foolproof, but it puts you at a significant advantage as a customer / consumer. Agreed! For example, I would never have had the confidence to purchase my Hutzler 571 Banana Slicer without reading the reviews fir...
by lhl12
Mon Jun 19, 2017 3:01 pm
Forum: Personal Consumer Issues
Topic: My Wife is having our 5th child. What is an appropriately extravagant push gift?
Replies: 90
Views: 8443

Re: My Wife is having our 5th child. What is an appropriately extravagant push gift?

It may be too late for this suggestion, but I recommend a case of the wine she really likes. Set aside (and store properly) three bottles as an engagement present for the child when he/she gets engaged. Then, you and your wife can open one of the other nine bottles on your wedding anniversaries. Wit...
by lhl12
Wed Jun 14, 2017 2:46 pm
Forum: Personal Consumer Issues
Topic: Multi-page scanner?
Replies: 26
Views: 2092

Re: Multi-page scanner?

Another vote for the Fujitsu ScanSnap ix500 -- a fantastic piece of equipment!
by lhl12
Mon Jun 05, 2017 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: When a company spins off part of itself, do you keep the new company stock?
Replies: 17
Views: 1070

Re: When a company spins off part of itself, do you keep the new company stock?

Mondelez has a funny name, but it is actually a huge company ($71 billion market cap) with very well known brands (Oreo, Chips Ahoy, Triscuits, Nabisco, Toblerone, Cadbury, Trident, Dentyne, and many more.) Lamb Weston is smaller, but is the largest potato company in North America. I believe they ar...
by lhl12
Mon Jun 05, 2017 7:53 pm
Forum: Investing - Help with Personal Investments
Topic: When a company spins off part of itself, do you keep the new company stock?
Replies: 17
Views: 1070

Re: When a company spins off part of itself, do you keep the new company stock?

I believe the academic literature indicates that over the long run restructurings of this sort (where one company spins off a subsidiary into a new publicly traded company) tend to outperform the rest of the market. So, when this sort of thing happens I typically hold both stocks.
by lhl12
Sun May 28, 2017 5:31 pm
Forum: Investing - Help with Personal Investments
Topic: Looking for advice/reassurance on what to do with $4-5m
Replies: 63
Views: 6633

Re: Looking for advice/reassurance on what to do with $4-5m

0.40% to the banker is excessive and ill-advised. Note that you can get a similar service from Vanguard (the Portfolio Advisory Service) for 0.30%. I agree that you should negotiate his fee lower. I would aim for 0.20% (as livesoft suggested), but in no event greater than 0.30%. I would also insist ...
by lhl12
Sat May 13, 2017 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: recent widow needs help with life insurance payout options
Replies: 44
Views: 3607

Re: recent widow needs help with life insurance payout options

My husband died one week ago, and I find myself looking at the payout choices of a term life insurance policy. I would like to understand them all and wonder if anyone could help with that?? Option 1 - lump sum. Option 2 - keep money at insurance company, will earn 3% interest per year (minimum), p...