Search found 3739 matches

by mptfan
Mon Sep 19, 2016 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 3639

Re: Questions for Insurance Salesman on Whole Life Policy

If you are being pitched life insurance as an investment, in any way shape or form, you are being conned. Is it a con if the salesman pitching the life insurance actually believes that it is a good investment? Respectfully that question is irrelevant unless someone is worried about hurting a salesp...
by mptfan
Mon Sep 19, 2016 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 3639

Re: Questions for Insurance Salesman on Whole Life Policy

jabberwock wrote:If you are being pitched life insurance as an investment, in any way shape or form, you are being conned.

Is it a con if the salesman pitching the life insurance actually believes that it is a good investment?
by mptfan
Fri Sep 16, 2016 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 3639

Re: Questions for Insurance Salesman on Whole Life Policy

Brain wrote:This is not a contentious relationship and I truly do feel he has our best interest in mind.

I know you truly feel that way, but it is just not true. You are being played.
by mptfan
Fri Sep 16, 2016 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 3639

Re: Questions for Insurance Salesman on Whole Life Policy

My main questions are about the policies on my kids. For that premium, they seem reasonable. If the premium can change, then that's an issue. That's one of my questions for him. No, it is not reasonable. First, you do not need life insurance for the kids. Second, whole life is a terrible investment...
by mptfan
Fri Sep 16, 2016 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 3639

Re: Questions for Insurance Salesman on Whole Life Policy

I agree with the previous posters, cancel the meeting. Seriously. I am not joking. Cancel the meeting. You need an intervention. What are you insuring the kids for? That is crazy. Life insurance is meant to be income replacement insurance, it is meant to insure against the loss of future income of a...
by mptfan
Tue Sep 13, 2016 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my mortgage?
Replies: 35
Views: 2842

Re: Should I pay off my mortgage?

MOAChaser wrote:Am I correct in my thinking that since there is only $350 or so difference between my standard deduction and itemized deductions, that I'm effectively spending $4500 in interest to get an $87 or so tax break?

Yes, you are correct.

viewtopic.php?t=31456
by mptfan
Tue Sep 13, 2016 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my mortgage?
Replies: 35
Views: 2842

Re: Should I pay off my mortgage?

Yes, you should pay off your mortgage.
by mptfan
Thu Sep 08, 2016 5:25 pm
Forum: Personal Consumer Issues
Topic: Ransomware alert
Replies: 54
Views: 4870

Re: Ransomware alert

wolf359 wrote:I love Chromebooks.

Me too. I don't own a Windows computer anymore.
by mptfan
Thu Sep 08, 2016 2:16 pm
Forum: Investing - Theory, News & General
Topic: Do you think about volatility drag on your portfolio?
Replies: 51
Views: 2517

Re: Do you think about volatility drag on your portfolio?

Mind you, when Vanguard (and probably anyone else) reports the annual average performance of a fund (over some specified time period), they are reporting the geometric mean. So the volatility drag is already baked into that. Is this true? Then it wouldn't be an "average." Is there some wa...
by mptfan
Tue Sep 06, 2016 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: payoff my mortgage ?
Replies: 18
Views: 1772

Re: payoff my mortgage ?

Ask your mortgage lender for a copy of the amortization chart, and then see how much you're really paying towards interest. That is not necessary, you can easily calculate it yourself. If the mortgage balance is $62,000, and the interest rate is 5%, then you are paying very close to $258 in interes...
by mptfan
Tue Sep 06, 2016 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: payoff my mortgage ?
Replies: 18
Views: 1772

Re: payoff my mortgage ?

clipso1 wrote:Should we pay of our mortgage ?

Yes.
by mptfan
Tue Sep 06, 2016 1:27 pm
Forum: Investing - Theory, News & General
Topic: Ric Edelman's The Truth about Retirement on PBS
Replies: 142
Views: 12000

Re: Ric Edelman's The Truth about Retirement on PBS

When you say a house does not return much, I assume you are referring to the increase in value of a house over time. If that is true, then your house will "return" the same amount regardless of the existence or non-existence of a mortgage. Paying off your mortgage has no effect whatsoever...
by mptfan
Tue Sep 06, 2016 12:53 pm
Forum: Investing - Theory, News & General
Topic: Ric Edelman's The Truth about Retirement on PBS
Replies: 142
Views: 12000

Re: Ric Edelman's The Truth about Retirement on PBS

On the other hand, with a paid off mortgage you've tied up a lot of your capital in an illiquid investment that doesn't return much according to national averages. A house is a net loss after carrying costs for a lot of people. When you say a house does not return much, I assume you are referring t...
by mptfan
Tue Sep 06, 2016 11:37 am
Forum: Investing - Theory, News & General
Topic: Ric Edelman's The Truth about Retirement on PBS
Replies: 142
Views: 12000

Re: Ric Edelman's The Truth about Retirement on PBS

...They take your house but they actually cannot come at you for any remaining balance if you're under water - the bank holds the bag... You'd have to be a lawyer to know the ins and outs and it depends hugely on what state you live in. That's one reason I think Edelman's comment was irresponsible....
by mptfan
Tue Sep 06, 2016 9:40 am
Forum: Investing - Theory, News & General
Topic: Bridge to Social Security
Replies: 33
Views: 2319

Re: Bridge to Social Security

That may be true. I always worked big companies with many divisions and many thousands of employees. My observation at all of them was that, after about 1990, they starting getting rid of older workers. Maybe smaller companies are more likely to keep older workers. I have only limited experience wo...
by mptfan
Tue Sep 06, 2016 9:30 am
Forum: Personal Consumer Issues
Topic: Visiting Peru/Machu Picchu
Replies: 16
Views: 1015

Re: Visiting Peru/Macchu Picchu during Columbus Day?

Hello, I'm planning a week-long trip to see Macchu Picchu in October before it gets too rainy, and I was thinking of taking advantage of Columbus Day but am worried whether things will shut down in Peru on that day. Are you serious? Why would Peru celebrate Columbus Day? Why would you think Peru ce...
by mptfan
Tue Sep 06, 2016 9:22 am
Forum: Investing - Theory, News & General
Topic: Ric Edelman's The Truth about Retirement on PBS
Replies: 142
Views: 12000

Re: Ric Edelman's The Truth about Retirement on PBS

... and guess what happens if you decide to not pay your debt? They take your house but they actually cannot come at you for any remaining balance if you're under water - the bank holds the bag. So it's not as much risk as having a straight out loan where they could sue you for the balance; the ban...
by mptfan
Tue Sep 06, 2016 9:13 am
Forum: Investing - Theory, News & General
Topic: Bridge to Social Security
Replies: 33
Views: 2319

Re: Bridge to Social Security

grayfox wrote:Unless you are self-employed, or own a business, or maybe work for the government, you probably work for a big corporation.

This is not true.

http://www.businessnewsdaily.com/5280-m ... aphic.html

https://www.smallbusinessmajority.org/economic-agenda
by mptfan
Fri Sep 02, 2016 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 348
Views: 61947

Re: Anyone regret paying off mortgage early?

Folks do realize this thread was started in 2012 and was already resurrected twice in 2014 and 2015, right? Everything saladdin wrote was written over a year ago.... So just let saladdin's argument rest, no matter how much you disagree with it, like it was doing for over a year before this thread w...
by mptfan
Fri Sep 02, 2016 10:34 am
Forum: Investing - Help with Personal Investments
Topic: Edward Jones and my in-laws
Replies: 44
Views: 4915

Re: Edward Jones and my in-laws

I'd like to thank all of you for your thoughts and feedback. We have decided to just leave it alone but I would like some feedback on whether or not we should have a conversation with them about what happens if they run out of money. njboater74 brought it up and my husband and I have never thought ...
by mptfan
Fri Aug 26, 2016 3:11 pm
Forum: Investing - Theory, News & General
Topic: Schwab now offering low cost Target Date funds
Replies: 24
Views: 2246

Re: Schwab now offering low cost Target Date funds

They seem like worthwhile competition. Mind you, presumably the cost reductions are largely in response to Vanguard/Bogle and the giant sucking sound of assets headed into Vanguard. But still glad to see the trend, and good to see people competing with Vanguard on the low-cost front... Indeed. We a...
by mptfan
Wed Aug 24, 2016 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: How do you view debt?
Replies: 108
Views: 6524

Re: How do you view debt?

Earl Lemongrab wrote:I don't spend a lot of time worrying about what other people do.

Neither do I.
by mptfan
Wed Aug 24, 2016 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: How do you view debt?
Replies: 108
Views: 6524

Re: How do you view debt?

That being said I draw the line on depreciating assets, will only borrow if the rate is 0%. I still prefer the notion of purchasing a cheaper used car with cash vs. purchasing a new car with low interest like 0.9%. Sometimes I hear people justify a new car loan because the interest rate was 0% or s...
by mptfan
Tue Aug 23, 2016 4:19 pm
Forum: Investing - Help with Personal Investments
Topic: How do you view debt?
Replies: 108
Views: 6524

Re: How do you view debt?

Engineer250 wrote:The middle class simply can't keep up with this kind of tuition inflation.

I guess that depends on how you define "middle class."
by mptfan
Mon Aug 22, 2016 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts - How do you use it?
Replies: 103
Views: 5803

Re: Joint Accounts - How do you use it?

Not sure why people seem so determined to assume that having individual accounts is more work, more cumbersome etc.....when it just isn't :annoyed . It's not an assumption, it is a fact. If you did not have separate accounts, you would not have to perform two additional transactions each month ... ...
by mptfan
Thu Aug 18, 2016 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Are there any smart ways to pay off a credit card?
Replies: 27
Views: 2110

Re: Are there any smart ways to pay off a credit card?

michaeljc70 wrote:I agree. Credit cards are handy and almost necessary for some things (try renting a car without one).

Also try buying an airline ticket, or reserving a hotel room in advance, or checking in to a hotel.
by mptfan
Tue Aug 16, 2016 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts - How do you use it?
Replies: 103
Views: 5803

Re: Joint Accounts - How do you use it?

You are highlighting the reasons why practicing lawyers do not cite Wikipedia. First, the Uniform Fraudulent Transfer Act to which you referred has been superseded by the Uniform Voidable Transactions Act. http://www.americanbar.org/publications/probate_property_magazine_2012/2015/july_august_2015/2...
by mptfan
Tue Aug 16, 2016 3:46 pm
Forum: Investing - Help with Personal Investments
Topic: moving my accounts to vanguard
Replies: 8
Views: 756

Re: moving my accounts to vanguard

Dale_G wrote:The US market is about 70% large caps, 20% midcaps and 10% midcaps.

I think you made a typo...the 10% is meant to be small caps.
by mptfan
Tue Aug 16, 2016 3:42 pm
Forum: Investing - Theory, News & General
Topic: Someone wants to pay me to manage their finances
Replies: 46
Views: 4230

Re: Someone wants to pay me to manage their finances

It's illegal for you to provide specific investment advice for money without getting licensed. https://www.kitces.com/blog/are-the-licensing-and-other-requirements-to-become-a-financial-advisor-too-easy/ Yes, but "advisors who wish to get paid a fee for their general advice can do so without b...
by mptfan
Tue Aug 16, 2016 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts - How do you use it?
Replies: 103
Views: 5803

Re: Joint Accounts - How do you use it?

But saying you can transfer assets to avoid a judgment after you are sued is also giving out wrong legal advice on your part. It is called fraudulent conveyance. You are again proving that you do not know what you are talking about. Fraudulent conveyance does NOT apply after you are sued, it only a...
by mptfan
Tue Aug 16, 2016 1:43 pm
Forum: Investing - Theory, News & General
Topic: Someone wants to pay me to manage their finances
Replies: 46
Views: 4230

Re: Someone wants to pay me to manage their finances

staythecourse wrote:I would be curious to see how much they would care about your lack of experience or certifications when the next 2008 rolls around.

Agreed. It's easy to be sanguine when the market keeps going up, but attitudes change when the stuff hits the fan.
by mptfan
Mon Aug 15, 2016 4:35 pm
Forum: Personal Consumer Issues
Topic: Are you on Facebook?
Replies: 144
Views: 8287

Re: Are you on Facebook?

squirm wrote:Our kid isn't old enough, but I plan on discouraging him from being on any social media.

Good luck with that. Are you going to discourage them from having friends too? I have teenage kids, and for them no social media effectively means no friends.
by mptfan
Mon Aug 15, 2016 10:18 am
Forum: Personal Consumer Issues
Topic: Post Office Boxes-Junk and prior renter's mail
Replies: 32
Views: 2085

Re: Post Office Boxes-Junk and prior renter's mail

The solution was a local entity, formerly Mailbox Etc, now a standalone operation. They will discard the junk and hold everything else, they will forward to a domestic address first class mail at my instructions (generally once a month) and all is good. I pay for the postage fr the forwarded stuff ...
by mptfan
Sun Aug 14, 2016 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts - How do you use it?
Replies: 103
Views: 5803

Re: Joint Accounts - How do you use it?

With asymetric risk, then separate accounts makes more sense to me, with more of the assets in the less risk person's name. You can't wait until you are sued, and then transfer assets, must be kept separate as an ongoing thing. You really should not be giving out legal advice that is wrong, or at a...
by mptfan
Sun Aug 14, 2016 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Accounts - How do you use it?
Replies: 103
Views: 5803

Re: Joint Accounts - How do you use it?

This poll was done back when polls were allowed on this forum... https://www.bogleheads.org/forum/viewtopic.php?f=2&t=149856&hilit=joint+accounts+couple The results were: 59% of couples use only joint accounts, 31% use a combination of joint and separate accounts, and 10% use only separate a...
by mptfan
Fri Aug 12, 2016 6:14 am
Forum: Investing - Theory, News & General
Topic: Another look at corporate bonds
Replies: 209
Views: 13156

Re: Another look at corporate bonds

fyi Swensen in his book Unconventional Success Well-informed investors avoid the no-win consequences of high-yield fixed income investing . Larry That is not the statement to which I was referring, and you know that. I was referring to your belief that "bonds are for safety, investors should t...
by mptfan
Mon Aug 08, 2016 10:10 am
Forum: Investing - Theory, News & General
Topic: Rick Ferri's Bond Portfolio
Replies: 29
Views: 4103

Re: Rick Ferri's Bond Portfolio

Dulocracy, I did not intend to be snarky, I asked those questions sincerely. I agree that there are a variety of opinions on this subject, but I do not agree that there is a clear majority of opinion on one side or the other, and I am not aware of any evidence of a clear majority opinion on this sub...
by mptfan
Mon Aug 08, 2016 9:28 am
Forum: Investing - Theory, News & General
Topic: Rick Ferri's Bond Portfolio
Replies: 29
Views: 4103

Re: Rick Ferri's Bond Portfolio

Most bogleheads prefer to take their risk on the equity side of the portfolio... What is your basis for this conclusion? 1) That it is often stated on this website. Contrary opinions are often stated as well, and I am not aware of any poll or data that shows which opinion is held by most Bogleheads...
by mptfan
Mon Aug 08, 2016 9:17 am
Forum: Personal Finance (Not Investing)
Topic: How important is it to have a will?
Replies: 16
Views: 1512

Re: How important is it to have a will?

I don't think you are crazy, but I need to point out that the promissory note between you and your mortgage lender (most people call the promissory note a "mortgage" even though it is not) has nothing to do with who would get the property after you died. You may or may not need a will to e...
by mptfan
Sat Aug 06, 2016 8:44 am
Forum: Investing - Theory, News & General
Topic: Rick Ferri's Bond Portfolio
Replies: 29
Views: 4103

Re: Rick Ferri's Bond Portfolio

mhalley wrote:Most bogleheads prefer to take their risk on the equity side of the portfolio...

What is your basis for this conclusion?
by mptfan
Wed Aug 03, 2016 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: daves ramsey new ELPs [Endorsed Local Providers]
Replies: 37
Views: 3238

Re: daves ramsey new ELPs

That being said, he is often very contradictory on his show. He will tell a caller that if they owe a bill and have the means to pay it, they're morally obligated to do so. Then someone will call asking how to get out of paying debt collectors and he will call the hypthetical collector every name u...
by mptfan
Wed Aug 03, 2016 4:01 pm
Forum: Personal Consumer Issues
Topic: Suckered into Marriott Kauai Timeshare Presentation
Replies: 101
Views: 11020

Re: Suckered into Marriott Kauai Timeshare Presentation

I don't think it is a good idea to try to steal bait from a mousetrap. You are gambling that your sale resistance is higher than a good salesperson's skill. I have a friend who bragged about going to time-share presentations just to get the free dinner. She said "When they come to talk to me, ...
by mptfan
Tue Aug 02, 2016 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: SSA MANDATORY cell phone based multifactor authentication [now RESCINDED]
Replies: 168
Views: 13704

Re: SSA MANDATORY cell phone based multifactor authentication

Am I correct in assuming that email account can have a Google Voice feature (for lack of a better term) that will receive text messages? If yes then could those text messages be forwarded by Google to a different email account like Outlook.com which I use all day (was called Hotmail but they change...
by mptfan
Tue Aug 02, 2016 12:15 pm
Forum: Investing - Theory, News & General
Topic: What rate of return do you use when planning for retirement?
Replies: 139
Views: 14842

Re: What rate of return do you use when planning for retirem

alex_686 wrote:I suspect that your average return of 8% has a much lower geometric average return.

I agree. The geometric return of a series of fluctuating positive numbers, as compared to the average return, is, by definition, lower.
by mptfan
Tue Aug 02, 2016 12:10 pm
Forum: Investing - Theory, News & General
Topic: How long to turn 1 million to 2 millions for you?
Replies: 44
Views: 8124

Re: How long to turn 1 million to 2 millions for you?

duffer wrote:Long term on average, equities return just under 7% a year.

According to Vanguard, a 100% equities portfolio had an average annual return of 10.1% between 1925 and 2015.

https://personal.vanguard.com/us/insigh ... llocations
by mptfan
Mon Aug 01, 2016 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should my wife form an S-corp?
Replies: 25
Views: 1625

Re: Should my wife form an S-corp?

Yet another myth. An S-Corp or LLC do not provide some magical liability protection. The liability protections of an S-Corp and to a lesser degree an LLC, are business liability protections. Neither of them provide much protection for the negligent personal acts of the owner. Exactly. This is a ver...
by mptfan
Mon Aug 01, 2016 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Should my wife form an S-corp?
Replies: 25
Views: 1625

Re: Should my wife form an S-corp?

wfromm wrote:Attorney's love to set up Corporations for the fee and Accountants love them for the additional tax prep revenue. I agree that it is not worth it and that she should just file Schedule C as a Sole Proprietor.

I agree. And I am an attorney.
by mptfan
Sun Jul 31, 2016 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Consumer Reports, how could you? [Investment Company Buying Guide]
Replies: 74
Views: 6596

Re: Consumer Reports, how could you?

The results of that survey highlight the difference between perception and reality. There are lots of people out there who perceive that they are getting good value when they are not, usually because they are being deceived, or because they are not well informed enough to know that they are not gett...
by mptfan
Sat Jul 30, 2016 7:27 am
Forum: Personal Finance (Not Investing)
Topic: SSA MANDATORY cell phone based multifactor authentication [now RESCINDED]
Replies: 168
Views: 13704

Re: SSA MANDATORY cell phone based multifactor authentication

While some 2FA mechanisms are better because someone can't intercept the code as it is sent to you, they are all vulnerable to the type of attack where you are presented with a forged logon screen. If that forged logon screen also fakes the 2FA portion, you're still screwed. I was under the impress...
by mptfan
Fri Jul 29, 2016 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: SSA MANDATORY cell phone based multifactor authentication [now RESCINDED]
Replies: 168
Views: 13704

Re: SSA MANDATORY cell phone based multifactor authentication

I prefer using a time based authenticator where it downloads a token only at the time of setting up 2-factor. From then you get your codes without any information being transmitted to you. How do you feel about physical security keys using U2F? In that case nothing is transmitted to you either, and...

Go to advanced search