Search found 3924 matches

by mptfan
Fri Jun 16, 2017 2:44 pm
Forum: Personal Consumer Issues
Topic: Contractor took deposit but never did any work. What next?
Replies: 28
Views: 3212

Re: Contractor took deposit but never did any work. What next?

A contractor once told me he needed a check as deposit to pay for the materials up front, mid 4 figures, I told him I would meet him at the supplier and pay for the materials, he said no, he needed the money up front, I said no, I'm not willing to do that. He left. I think I dodged a bullet.
by mptfan
Wed Jun 14, 2017 6:43 pm
Forum: Investing - Theory, News & General
Topic: What growth rate for your projection calcs?
Replies: 31
Views: 2494

Re: What growth rate for your projection calcs?

I start out with 8%, and gradually decrease each year to 5% during retirement.
by mptfan
Tue Jun 13, 2017 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Who takes financial chances and why is this forum so financially conservative?
Replies: 139
Views: 11812

Re: Who takes financial chances and why is this forum so financially conservative?

But I also look at the giant pile of money I'm aiming for versus how I plan to spend it and wonder if I'm crazy. I do think that a 2.25% withdrawal rate is way too low, that means you saved too much and are spending too little (in my opinion). But that's just my opinion, and your money is not my mo...
by mptfan
Fri Jun 09, 2017 10:01 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard High-Yield Corporate Fund Investor Shares VWEHX
Replies: 47
Views: 3556

Re: Vanguard High-Yield Corporate Fund Investor Shares VWEHX

VaR wrote:... the yield premium you get for taking the extra credit risk is small relative to the yield spreads we've seen historically.

Stated differently... the market pays a risk premium for investing in high yield bonds, but the risk premium is lower now than it has been historically.
by mptfan
Thu Jun 08, 2017 1:15 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard High-Yield Corporate Fund Investor Shares VWEHX
Replies: 47
Views: 3556

Re: Vanguard High-Yield Corporate Fund Investor Shares VWEHX

Also - the wiki itself seems to make many more negative comments about them - and very few position - such as: Due to the high risk of this asset class, investors could very easily choose not to include it at all in their portfolios. Certain commentators even argue that the risks are unlikely to be...
by mptfan
Thu Jun 08, 2017 10:20 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard High-Yield Corporate Fund Investor Shares VWEHX
Replies: 47
Views: 3556

Re: Vanguard High-Yield Corporate Fund Investor Shares VWEHX

DaftInvestor wrote:That said, most bogleheads don't believe in high-yield bonds -

Why do you say that? Have you done a survey? I'm not sure that is true, Bogleheads hold a variety of views on high yield bonds.
by mptfan
Sat May 27, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Second Thoughts on Whole Life Insurance <1 Year into it - Advice???
Replies: 52
Views: 3218

Re: Second Thoughts on Whole Life Insurance <1 Year into it - Advice???

Dump it, cut your losses, and move on. Be thankful that you got out after only one year. No, it does not make sense to keep paying just because you got suckered for the first year... google "sunk cost fallacy." Also, the person who sold you the whole life policy is NOT a financial advisor,...
by mptfan
Fri May 19, 2017 3:17 pm
Forum: Investing - Help with Personal Investments
Topic: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)
Replies: 114
Views: 14943

Re: My dad is taking Social Security at 62, why would anyone not?

TimeRunner wrote:They're not screwed, they're dead, and therefore it makes no difference to them. There are probably no regrets after death, but YMMV of course.

Exactly. I hope there are no regrets after death, that would be awful!
by mptfan
Fri May 19, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: How long do I really need to keep tax returns?
Replies: 18
Views: 1536

Re: How long do I really need to keep tax returns?

soccerdad12 wrote:Obviously the PDF files would be pretty sensitive info. Where is everyone keeping these docs? I assume nobody is backing them up with a cloud service.

I am.
by mptfan
Mon May 15, 2017 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Doctor wants Social Security number
Replies: 48
Views: 4809

Re: Doctor wants Social Security number

Church Lady wrote:Is there some law requiring my friend to fork over the SS number? What should this person do?

There is no law. This person should leave that part of the form blank.
by mptfan
Tue May 09, 2017 7:52 am
Forum: Investing - Theory, News & General
Topic: Why Does The 60/40 Work So Well?
Replies: 72
Views: 9435

Re: Why Does The 60/40 Work So Well?

azanon wrote:I promise you if you save enough, a 30/70 will do the trick.

If you save enouhg, 0/100 will do the trick. Heck, if you save enough, you don't need stocks or bonds, just put everything in CDs or a savings account.
by mptfan
Sat May 06, 2017 10:22 pm
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 18557

Re: Why save so much for when you're old?

imareal1 wrote:I'm basically asking for a justification of why I'm putting away significant money into my 401Ks and IRAs that I can't even touch until I'm 65 and old and don't have the energy to do the stuff I would do now in my 20s.

You can touch them without penalty when you are 59.5.
by mptfan
Tue May 02, 2017 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Most Common Financial Mistakes
Replies: 108
Views: 14067

Re: Most Common Financial Mistakes

We are all born with certain traits, and there is no reason why people are born the way they are other the random nature of genetics, or the will of a higher power. It is what it is.
by mptfan
Tue May 02, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Most Common Financial Mistakes
Replies: 108
Views: 14067

Re: Most Common Financial Mistakes

Outside of living above means (too much car, too much house, too much credit card, etc) I think the single biggest mistake is that people don't take the time to educate themselves about saving and investing. Even the most basic level. A few days of research about basic investing principles could sa...
by mptfan
Mon May 01, 2017 11:22 am
Forum: Investing - Theory, News & General
Topic: Schwab Vs. Vanguard?
Replies: 32
Views: 4770

Re: Schwab Vs. Vanguard?

radiowave wrote:The Vanguard Institutional Total Stock Market (VITNX) has an expense ratio of 0.04% https://personal.vanguard.com/us/funds/snapshot?FundId=0870&FundIntExt=INT

Do you have $100,000,000 to invest in that fund?
:shock:
by mptfan
Sun Apr 30, 2017 7:59 am
Forum: Investing - Theory, News & General
Topic: Another "Why Bonds?" / Buffett 90/10 thread..
Replies: 66
Views: 8079

Re: Another "Why Bonds?" / Buffett 90/10 thread..

Another point I'd like to make is from 1966-1982 the stock market return was 0.0. This is not correct. You are confusing changes in the DJIA index with "return" and they are not the same. The return of stocks over time includes changes in price and dividends paid. The Dow Jones Industrial...
by mptfan
Thu Apr 27, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: When do you plan to die?
Replies: 165
Views: 11630

Re: When do you plan to die?

The ideal goal should be for the portfolio to hit "escape velocity". ie. its returns outstrip your withdrawals. I agree that should be a goal, but I do not plan for that condition to exist indefinitely. In other words, I do not plan for my portfolio to continue to grow after I retire for ...
by mptfan
Wed Apr 26, 2017 4:13 pm
Forum: Personal Consumer Issues
Topic: Will cars be autonomous in three years?
Replies: 225
Views: 12092

Re: Will cars be autonomous in three years?

The people who did those jobs became unemployed and found work elsewhere. It's no different when a company goes bankrupt. The company's jobs are lost and the people look for work at a different company. Sometimes machines took over jobs like that (such as in construction and telephone communication...
by mptfan
Wed Apr 26, 2017 3:56 pm
Forum: Personal Consumer Issues
Topic: Will cars be autonomous in three years?
Replies: 225
Views: 12092

Re: Will cars be autonomous in three years?

What are all these folks going to do for jobs? Having a job will become a rare luxury, which should be music to the ears of the folks who seek retirement, the sooner the better. They will join the displaced stenographers, mail room workers, buggy whip manufacturers, bank tellers, and CSRs. I do fin...
by mptfan
Mon Apr 24, 2017 11:36 am
Forum: Personal Consumer Issues
Topic: Will cars be autonomous in three years?
Replies: 225
Views: 12092

Re: Will cars be autonomous in three years?

crazygrow wrote:Will most cars become autonomous drivers over the next three years?

No way. Not even close. 30 years? Maybe.
by mptfan
Mon Apr 24, 2017 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 20414

Re: Any regrets living a frugal life for high income/high networth individuals?

My car gets me where I want to go, it is safe and reliable. What more could I want? My house is comfortable, warm in the winter, quiet and safe. An American living a safe comfortable life is living in the lap of luxury by the standards of the vast majority of humans who have ever lived and of those...
by mptfan
Mon Apr 17, 2017 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Quick Soc. Sec Estimate Question
Replies: 7
Views: 546

Re: Quick Soc. Sec Estimate Question

delamer wrote:Once you have 35 years of earnings, then an additional year will only impact your payment if it is higher than one of the 35 (adjusted for inflation).

Earnings before the year in which you turn 60 are not adjusted for inflation, they are adjusted by reference to the National Average Wage Index.
by mptfan
Thu Apr 06, 2017 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Need more fixed income in tax-deferred accounts
Replies: 19
Views: 1327

Re: Need more fixed income in tax-deferred accounts

LaundryLady wrote:Am I right that if we hold this fund until interest rates stabilize at more normal levels that we will not lose principle?

What are "normal levels"?

P.S. "Principle" should be "principal."
by mptfan
Wed Apr 05, 2017 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: Should I pay off my mortgage?
Replies: 22
Views: 2170

Re: Should I pay off my mortgage?

If your mortgage interest deduction causes your total deductions to exceed the standard deduction, then I think it is arguable and there are no right or wrong answers, it depends on you personal preference and how you view debt. If you do not itemize your deductions and instead you take the standard...
by mptfan
Wed Apr 05, 2017 9:14 am
Forum: Investing - Theory, News & General
Topic: Delaying SS = Early SS+annuity or not?
Replies: 32
Views: 1730

Re: Delaying SS = Early SS+annuity or not?

If Rich dies suddenly at 71, he loses out big time on "overall benefits" by waiting until 70, but he dies happily with a happy retirement and peace of mind. I agree with you in general, but it's not as simple as you make it out to be. The issue that you are missing is Rich will also be sp...
by mptfan
Tue Apr 04, 2017 10:57 am
Forum: Investing - Help with Personal Investments
Topic: The Case for High Yield Bonds
Replies: 36
Views: 3508

Re: The Case for High Yield Bonds

Valuethinker wrote:For a bond fund a verbal anomaly that they are called "(fund) dividends" when, in fact, they are interest payments.

I just looked at my Vanguard statement, and they describe the payment from my bond fund as "Dividend Received."
by mptfan
Mon Apr 03, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: IS 200k household income "middle income" these days? Has that threshold increased?
Replies: 42
Views: 2924

Re: IS 200k household income "middle income" these days? Has that threshold increased?

$200-250k definitely isn't middle class, not even in places like Manhattan or San Francisco. That's solidly upper-middle class, bordering on upper class depending on which definition you use. What if someone makes $200k and lives in a low cost of living area and spends $50k a year and saves the res...
by mptfan
Mon Apr 03, 2017 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: The Case for High Yield Bonds
Replies: 36
Views: 3508

Re: The Case for High Yield Bonds

Also, I was under the impression that the purpose of bonds is to offset stock declines... That is ONE purpose of bonds, but by no means is it the only purpose. One of the other purposes of bonds (and in my opinion one of the primary purposes of bonds) is to generate income in the form of dividends....
by mptfan
Mon Apr 03, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: IS 200k household income "middle income" these days? Has that threshold increased?
Replies: 42
Views: 2924

Re: IS 200k household income "middle income" these days? Has that threshold increased?

$200-250k definitely isn't middle class, not even in places like Manhattan or San Francisco. That's solidly upper-middle class, bordering on upper class depending on which definition you use. What if someone makes $200k and lives in a low cost of living area and spends $50k a year and saves the res...
by mptfan
Mon Apr 03, 2017 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: IS 200k household income "middle income" these days? Has that threshold increased?
Replies: 42
Views: 2924

Re: IS 200k household income "middle income" these days? Has that threshold increased?

My gut feel is that wages have inflated higher than what the CPI numbers are telling us. Your gut feeling that wages have inflated more than the price of goods and services is correct, but the CPI numbers do not tell us that because the CPI numbers do not measure wage inflation, they measure price ...
by mptfan
Mon Apr 03, 2017 4:00 pm
Forum: Investing - Help with Personal Investments
Topic: The Case for High Yield Bonds
Replies: 36
Views: 3508

Re: The Case for High Yield Bonds

Also, I was under the impression that the purpose of bonds is to offset stock declines... That is ONE purpose of bonds, but by no means is it the only purpose. One of the other purposes of bonds (and in my opinion one of the primary purposes of bonds) is to generate income in the form of dividends.
by mptfan
Mon Mar 27, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Girlfriend
Replies: 86
Views: 7636

Re: Massive Student Loan Debt - Girlfriend

My generation (barely a millennial) has been told since we could understand language to go to a good college with absolutely no regard to making it a cost/benefit decision. There is no education on how long it takes to pay off 100k of student debt or even what the payments would be. I agree that so...
by mptfan
Sat Mar 25, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

From both the bank/credit union position and the consumer position, this work both ways. The consumer can take whatever position he or she wants, but it has no bearing on whether or not he or she gets her money back from a bank after a fraudulent transaction. It is only the bank's position that mat...
by mptfan
Sat Mar 25, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

That's a fair question. I just think that it's rare. Once you point out to the low-level employee that there is a federal regulation, they will confirm with their compliance department. If you still think the bank made a mistake, you can report them to their federal regulator. For most large banks,...
by mptfan
Sat Mar 25, 2017 11:25 am
Forum: Investing - Theory, News & General
Topic: So why exactly is everyone gloomy about bonds?
Replies: 34
Views: 4486

Re: So why exactly is everyone gloomy about bonds?

For a community that insists upon the unpredictability of the market as one of its central tenets, there does seem to be a consensus that "the bull run in bonds is over", "expected real return is zero", and such like. If my perception is accurate... Your perception is not accura...
by mptfan
Sat Mar 25, 2017 11:19 am
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

Under Regulation E, banks must provide provisional credit within 10 business days. It didn't sound like most of the people posting realized that. The bank then has 45 (or 90 days) to resolve the dispute. If the bank can't prove that the consumer was responsible the charges, the bank must make the p...
by mptfan
Sat Mar 25, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

It was suggested that the solution to the problem of the cyber crime perpetrated on the OP was as simple as to "never use a debit card - Period." That is not the solution True, because I haven't used a debit card (other than for ATM withdrawals) in at least 15 years. Cash, it is true that...
by mptfan
Sat Mar 25, 2017 11:14 am
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

It was suggested that the solution to the problem of the cyber crime perpetrated on the OP was as simple as to "never use a debit card - Period." This is not correct. My suggestion to not use a debit card was in response to a post by Miakis, not the OP, in which Miakis wrote the following...
by mptfan
Fri Mar 24, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

My advice is to be very, very careful about giving out your checking account information to anyone, including credit card companies and utilities.... This information is on every single check you write. It does not require confidentiality. Perhaps you missed my follow up post... By that definition,...
by mptfan
Thu Mar 23, 2017 10:15 pm
Forum: Investing - Theory, News & General
Topic: AA after reaching your "freedom number"?
Replies: 39
Views: 4285

Re: AA after reaching your "freedom number"?

I agree with pepperz that many folks on this forum believe that bonds should be used just for that purpose. I also agree that many folks on this forum believe that. But saying that many folks believe that bonds are supposed to be used to combat the volatility of the stock market is different than s...
by mptfan
Thu Mar 23, 2017 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

But I don't know if any of it really makes a difference. I have a client who had her business debit card hacked and duplicated - it was never lost - but it was mysteriously being used to purchase airplane tickets and hotel stays. She was using it for only a couple of transactions per month as her c...
by mptfan
Thu Mar 23, 2017 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

I always do pushes too, but doesn't the receiving company still have access to your bank account information? That depends on what you mean by access. Name on the account and account number? By that definition, everyone who has possession of one of your checks has access to your account, so yes. Bu...
by mptfan
Thu Mar 23, 2017 9:06 pm
Forum: Investing - Theory, News & General
Topic: AA after reaching your "freedom number"?
Replies: 39
Views: 4285

Re: AA after reaching your "freedom number"?

I know we are supposed to use bonds to combat the volatility of the stock market... Says who? I'm sure there are some people who use them for that purpose, but I do not agree that they are "supposed" to be used that way. If your goal was to combat the volatility of the stock market, cash ...
by mptfan
Thu Mar 23, 2017 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

delamer wrote:I always do pushes too, but doesn't the receiving company still have access to your bank account information?

That depends on what you mean by access.
by mptfan
Thu Mar 23, 2017 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: So someone drained $13k from my checking account...
Replies: 140
Views: 19183

Re: So someone drained $13k from my checking account...

But now I'm thinking about what lessons to draw from this. How did the fraudster get the account number? The only direct withdrawals and deposits to the account are from paychecks, utilities, credit card companies, ACH links to other financial institutions, and the (very) occasional check. Was one ...
by mptfan
Tue Mar 21, 2017 4:20 pm
Forum: Investing - Theory, News & General
Topic: Why do people invest in Long Term Bonds now?
Replies: 51
Views: 7742

Re: Why do people invest in Long Term Bonds now?

123 wrote:People buy long-term bonds or bond funds because yields tend to be higher on long-term bonds.

Exactly. Why is that so hard to understand?
by mptfan
Mon Mar 20, 2017 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Using the Fidelity Rewards Visa in Europe?
Replies: 20
Views: 1958

Re: Using the Fidelity Rewards Visa in Europe?

I have traveled to Europe a few times a year for the past 15 years so "we've met." American cards are chip and signature unless otherwise bragged about by the issuer. Even cards that are capable of chip and PIN will default to chip and signature. The Fidelity card will be chip and signatu...
by mptfan
Thu Mar 16, 2017 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Convincing Someone To Dump A Bad Financial Advisor
Replies: 39
Views: 3512

Re: Convincing Someone To Dump A Bad Financial Advisor

I'm always, amazed, too, how children have no credibility. My wife is a PharmD, and her mother won't listen to a word she says re: problems with some medicine, etc., but her neighbor down the street, however.... I refer to that as the "diaper principle." If someone once changed your diape...
by mptfan
Thu Mar 16, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Convincing Someone To Dump A Bad Financial Advisor
Replies: 39
Views: 3512

Re: Convincing Someone To Dump A Bad Financial Advisor

Did your mother ask for your advice? If the answer is no, then you should mind your own business and stay out of it. Unsolicited advice is rarely welcomed and almost never followed.

Go to advanced search