Search found 1785 matches

by neurosphere
Mon May 02, 2016 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: [SOME!] VG Tax-Exempt Funds are exempt from the disallowance of losses on shares held less than 6-months
Replies: 10
Views: 909

Re: VG Tax-Exempt Funds are exempt from the disallowance of losses on shares held less than 6-months

FYI: It appears to me that the new Tax-Exempt Bond Index Funds from Vanguard (VTEBX, VTEAX, and VTEB) are subject to the special rule about shares held less than 6 months. More detail in this post: https://www.bogleheads.org/forum/viewtopic.php?p=2890828#p2890828 Perhaps the thread title should be ...
by neurosphere
Sun May 01, 2016 12:51 pm
Forum: Investing - Help with Personal Investments
Topic: TLH Muni Funds ?
Replies: 11
Views: 847

Re: TLH Muni Funds ?

Does this mean you could buy today and sell tomorrow with a loss and the loss is dedictible? Careful here. The 6 month rule in this case refers only to any interest paid out by muni funds during the previous 6 months. It used to be (and for certain muni funds may still be) that you had to reduce th...
by neurosphere
Sun May 01, 2016 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: TLH Muni Funds ?
Replies: 11
Views: 847

Re: TLH Muni Funds ?

This still comes up every so often. I believe it is because the exception to the 6 month rule for munis is relatively recent.

See this post: viewtopic.php?f=2&t=175228&p=2889603#top
by neurosphere
Sat Apr 30, 2016 10:04 am
Forum: Investing - Theory, News & General
Topic: "Save $52,000 on Financial Advice" Forbes
Replies: 96
Views: 9290

Re: "Save $52,000 on Financial Advice" Forbes

Kitces also refers readers to the CFP board of standards at https://www.kitces.com/wp-content/uploads/2015/06/CFP-Board-Notice-To-Members-on-Fee-Only-Compensation-Disclosure.pdf Which contains this definition of fee only: The “fee-only“ definition set forth in the Standards of Professional Conduct ...
by neurosphere
Sat Apr 30, 2016 9:49 am
Forum: Investing - Theory, News & General
Topic: "Save $52,000 on Financial Advice" Forbes
Replies: 96
Views: 9290

Re: "Save $52,000 on Financial Advice" Forbes

As I noted in an earlier post, one "fee only advisor" we contacted expected to be paid a regular monthly fee of $500 for " periodic "consultations as desired" . These consultations would not include specific funds or portfolio recommendations. To get those , we'd have to go...
by neurosphere
Thu Apr 28, 2016 5:14 pm
Forum: Investing - Theory, News & General
Topic: "Save $52,000 on Financial Advice" Forbes
Replies: 96
Views: 9290

Re: "Save $52,000 on Financial Advice" Forbes

I understand NAPFA has that function. But here's the issue. I do the search. I find the closest firm to my house. They advertise "transparent pricing" but that pricing is never listed on the website. Apparently it's so transparent you have to come in to find out what it is. I had similar ...
by neurosphere
Wed Apr 27, 2016 8:59 pm
Forum: Investing - Theory, News & General
Topic: "Save $52,000 on Financial Advice" Forbes
Replies: 96
Views: 9290

Re: "Save $52,000 on Financial Advice" Forbes

This is why I think hourly or flat-fee regardless of aum will be the future of financial advice...many many more consumers will have to catch on to the the costs matter idea before the industry will make the change though. I'm an hourly-only planner, and I'll be honest, I don't think that hourly or...
by neurosphere
Wed Apr 27, 2016 2:46 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle on CNBC
Replies: 50
Views: 6507

Re: Jack Bogle on CNBC

What I would give to hear Mr. Bogle come on that segment and talk about the recent spike (decline) in commodity X, how that relates to the political stability (instability) in country Y and then state that based upon these factors and lingering concerns about the August jobs report he is recommendi...
by neurosphere
Tue Apr 26, 2016 6:11 pm
Forum: Investing - Theory, News & General
Topic: "Save $52,000 on Financial Advice" Forbes
Replies: 96
Views: 9290

Re: "Save $52,000 on Financial Advice" Forbes

Allan is definitely one of the good guys. About his $450 per hour fee...if he raised it to $900 there would still be a line at his door. Rick Ferri Agreed. How many actual billable hours do you think an financial planner can do in a week, keeping in mind all of the other activities which are requir...
by neurosphere
Fri Apr 15, 2016 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: [Tax filing mistakes made by your CPA (or yourself)]
Replies: 69
Views: 4064

Re: How often does your CPA screw up your taxes?

Although I can see how easy it is to make errors, if I pay a CPA, I expect to get expertise precisely to avoid errors. In practice, I find that CPAs are prone to errors as well, only perhaps a slightly different set of errors from what I would make. Unfortunately, the complexity of our current tax ...
by neurosphere
Thu Apr 14, 2016 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: [Tax filing mistakes made by your CPA (or yourself)]
Replies: 69
Views: 4064

Re: How often does your CPA screw up your taxes?

I always review the past few years of taxes for my financial planning clients, and I have found many mistakes. A few of the most recent ones are: -- failure to file 8606 -- Incorrect 8606 -- taking an education credit or deduction for which the client was not entitled. What's interesting is if I hap...
by neurosphere
Sun Apr 10, 2016 12:35 am
Forum: Investing - Help with Personal Investments
Topic: New physician looking to open solo 401k w/ loan option for home downpayment - Most flexible firm?
Replies: 9
Views: 726

Re: New physician looking to open solo 401k w/ loan option for home downpayment - Most flexible firm?

Hmmm. I'm confused I think about the benefits of this approach. But sometimes it takes me a little while to understand things. Let me see if I have this straight. Suppose you make enough income and have positive cash flow such that you are able to contribute $50,000 to a solo 401k (employee plus emp...
by neurosphere
Fri Apr 08, 2016 11:10 pm
Forum: Personal Finance (Not Investing)
Topic: "Financial planning fees may soon need to be unbundled from AUM fees" by Michael Kitces
Replies: 8
Views: 1129

Re: "Financial planning fees may soon need to be unbundled from AUM fees" by Michael Kitces

The most efficient method of getting advice is to get it by the hour and implement the plan yourself at Vanguard or Fidelity with low cost index funds. As the author said, people have an aversion to writing checks. Yes, hourly planning is the most efficient way for the INVESTOR, but probably the wo...
by neurosphere
Fri Apr 08, 2016 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: PPO vs. HDHP/HSA Spreadsheet
Replies: 9
Views: 577

Re: PPO vs. HDHP/HSA Spreadsheet

In addition to your analysis, I like to try to figure out my "break-even" point, depending on the level of spending in a calendar year. For example, you can include fields/calculations for number office visits, the co pay for year, the average/expected cost per visit, etc. For example, my ...
by neurosphere
Thu Apr 07, 2016 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Make 401k contribution if no additional tax benefit?
Replies: 10
Views: 499

Re: Make 401k contribution if no additional tax benefit?

Spencer wrote:Again, how is this not beneficial tax wise? You are reducing your AGI. :confused

One example: suppose your AGI goes from $100 to $50. How much did you save in taxes? :)
by neurosphere
Thu Apr 07, 2016 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Make 401k contribution if no additional tax benefit?
Replies: 10
Views: 499

Re: Make 401k contribution if no additional tax benefit?

In general, the CPA is correct. You get no tax deduction now if you contribute. But you WILL receive tax-deferral on items such as dividends and capital gains. And you MAY be taxed on the money later. Altogether, I would not assume the tax-deferral will make up for the (potential) taxes later upon w...
by neurosphere
Wed Apr 06, 2016 8:02 pm
Forum: Investing - Help with Personal Investments
Topic: Advisor wants to convert TSP to ?
Replies: 64
Views: 5189

Re: Advisor wants to convert TSP to ?

He also made some token effort to "explain" how the TSP was expensive. I pointed out he had the decimal point for the expense ratios in the wrong place. Seriously??!! When I give financial literacy lectures, I tell people that the vast majority of financial advisors are either ignorant/st...
by neurosphere
Sat Apr 02, 2016 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Tax Withholding Question
Replies: 8
Views: 484

Re: Tax Withholding Question

I have a another question to go along with this. I am a 1/3 owner of a capital management LLC which holds investments to pay for upkeep of our ranch land. I am also a beneficiary of a trust. I get taxed on my portion of the LLC income and the trust dividends. Do you guys do a tax estimate for the y...
by neurosphere
Tue Mar 29, 2016 5:19 pm
Forum: Investing - Help with Personal Investments
Topic: Quarterly taxes for 87 yr senior
Replies: 18
Views: 1262

Re: Quarterly taxes for 87 yr senior

My father, 87, has these questions about paying his taxes quarterly: 1. I plan to pay the full year's Estimated Federal tax up front. 2. Can I send in a single check to cover the full year's tax? Or do I send in 4 separate checks? 3. Do I include 4 quarterly vouchers, or a single voucher and change...
by neurosphere
Thu Mar 24, 2016 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Academic Prize and 1099-MISC
Replies: 15
Views: 1223

Re: Academic Prize and 1099-MISC

The advice I was given in a similar situation (a 1099-MISC with a number in Box 7 which should have been in Box 3) was to file as if the number were in Box 3. The idea is that the IRS will catch the discrepancy and send a letter asking for the tax they believe is owed due to the non-reported income...
by neurosphere
Thu Mar 24, 2016 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Academic Prize and 1099-MISC
Replies: 15
Views: 1223

Re: Academic Prize and 1099-MISC

This reminds me of a time when a fellow PhD student at a top university insisted that her stipend was not taxable. I told her, not getting a W-2 doesn't mean you get off free, the IRS says plain as day that fellowship income is taxable. She didn't listen, and my mind boggled. I wonder how many grad...
by neurosphere
Thu Mar 24, 2016 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Academic Prize and 1099-MISC
Replies: 15
Views: 1223

Re: Academic Prize and 1099-MISC

My understanding was that academic awards of this kind were not reportable on a 1099. Academic prizes ARE required to be reported on 1099-MISC in Box 3 unless the prize qualifies as a tax-free scholarship because the use of the prize is restricted to qualifying tuition expenses. If the prize is pai...
by neurosphere
Mon Mar 21, 2016 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Academic Prize and 1099-MISC
Replies: 15
Views: 1223

Academic Prize and 1099-MISC

A student of mine won a cash award at his medical school graduation. The award was as a result of academic achievement during the course of his education. The university reported the award in box 7 of the 1099-MISC. As far as I know, there was no contest, competition, presentation, etc needed in ord...
by neurosphere
Sat Mar 12, 2016 11:12 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19577

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

I might stop calling it "backdoor" since that implies it's underhanded or inappropriately exploiting a loophole. I will try to think of another term. How about "revolving door Roth contribution"? I prefer "Indirect Roth contribution". Indirect doesn't have the connotat...
by neurosphere
Fri Mar 11, 2016 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: Fee-only vs Fee-Based , Outright lieing?
Replies: 15
Views: 1632

Re: Fee-only vs Fee-Based , Outright lieing?

why not look for one through the garrett planning network? Or try napfa.org. Both have fee only (not fee based) planners. http://www.garrettplanningnetwork.com/ http://www.napfa.org let us know how it goes. It used to be a lot easier to find a planner that would bill you by the hour. But many of th...
by neurosphere
Mon Mar 07, 2016 1:25 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19577

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

Conversion contributions to Roth IRAs are treated differently than direct Roth IRA contributions by the IRS. The rules for withdrawals are different, for example. IMO, one can use this to make the case that the 2-step transaction process is not equivalent to a direct contribution. So, I'm not reall...
by neurosphere
Sat Mar 05, 2016 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Fee only advisor service and info requested.Is this the norm?
Replies: 16
Views: 1063

Re: Fee only advisor service and info requested.Is this the norm?

Anytime someone has access to any of your information, there is risk. Even paying someone via check potentially allows that person to initiate an ACH transfer from your account into any other account. Every physician's office, bank branch, mortgage co. etc has enough information to steal your identi...
by neurosphere
Fri Mar 04, 2016 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Unfortunate double recharacterization
Replies: 16
Views: 884

Re: Unfortunate double recharacterization

Just thinking out loud here, not an expert...[warning! No useful information is contained in this post] Because you are over the limits for a deductible TIRA contribution, the TIRA "contribution" (via the re-characterization of the Roth) is essentially a non-deductible contribution, which ...
by neurosphere
Fri Mar 04, 2016 12:55 am
Forum: Investing - Theory, News & General
Topic: "If You Can" book - Free Promo
Replies: 27
Views: 3869

Re: "If You Can" book - Free Promo

I gave a lecture to medical students about finances the other day. I used If You Can as an outline for the talk, quoting from it liberally, and expanding on the most relevant issues. I provided a link to the free pdf version of the book, which I said was "courtesy of Dr. William Bernstein, who ...
by neurosphere
Tue Feb 16, 2016 8:29 pm
Forum: Personal Consumer Issues
Topic: What video games are you currently playing?
Replies: 220
Views: 17562

Re: What video games are you currently playing?

Very infrequent gamer here. Grew up playing video games (arcade and PC) but then about ago stopped playing. A few years ago I got a new computer (probably more than I needed) and decided to check out what games were like today. Started playing Borderlands 2, just to "check it out" and LOVE...
by neurosphere
Sun Feb 14, 2016 2:04 pm
Forum: Investing - Help with Personal Investments
Topic: Any legitimate insurance/investment hybrids?
Replies: 23
Views: 1844

Re: Any legitimate insurance/investment hybrids?

Note: I am already maximizing tax deferred retirement contributions and my goal is to find other avenues of tax-deferred investing. I'm willing to tie this with life insurance in order to reap the tax benefits, but I want to avoid costs that are way higher than normal life insurance costs. -- Savin...
by neurosphere
Thu Feb 11, 2016 8:32 am
Forum: Investing - Theory, News & General
Topic: William Bernstein's "If You Can" Portfolio
Replies: 42
Views: 6437

Re: William Bernstein's "If You Can" Portfolio

What was going to be her choice, if she could not get my advice? What she had always done: Invest an equal amount in all of the options in the 401k. Which I have since learned is a very common method people use. :shock: NS Depending on what you guys have as choices, that might not be so bad. If she...
by neurosphere
Thu Feb 11, 2016 8:06 am
Forum: Investing - Theory, News & General
Topic: William Bernstein's "If You Can" Portfolio
Replies: 42
Views: 6437

Re: William Bernstein's "If You Can" Portfolio

Bill's advice regarding an asset allocation is brilliant, with respect to the audience it is intended for: those who know very little about saving and investing and/or have yet to start. I few years ago an older coworker who knew I had an interest in personal finance asked me to choose an asset allo...
by neurosphere
Mon Feb 08, 2016 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: What happens when car accident claim exceeds insurance limits?
Replies: 52
Views: 4359

Re: What happens when car accident claim exceeds insurance limits?

Does underinsured coverage protect the policy holder if one is a pedestrian who is struck by a car? I don't own a car, but have a non-owners policy which I purchased to cover me when I borrow a car or rent a car and which I also needed in order to purchase umbrella insurance. I'm much more likely to...
by neurosphere
Thu Feb 04, 2016 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation of fellowship
Replies: 37
Views: 1752

Re: Taxation of fellowship

Except as provided in paragraph (2), subsections (a) and (d) shall not apply to that portion of any amount received which represents payment for teaching, research, or other services by the student required as a condition for receiving the qualified scholarship or qualified tuition reduction. I thi...
by neurosphere
Fri Jan 29, 2016 10:29 pm
Forum: Forum Issues and Administration
Topic: BOGLEHEADS.COM AND BOGLEHEADS.NET
Replies: 51
Views: 5315

Re: BOGLEHEADS.COM AND BOGLEHEADS.NET

Hello Everyone: I'm happy to announce that, thanks to the expert legal work performed pro-bono by Boglehead attorney Serge Krimnus http://www.mkwllp.com/#people_krimnus , The John C. Bogle Center for Financial Literacy prevailed in a legal action against a financial advisor who was using our tradem...
by neurosphere
Tue Jan 19, 2016 8:39 am
Forum: Investing - Theory, News & General
Topic: Sharing Advice from meeting with High Level Vanguard Advisor
Replies: 61
Views: 8653

Re: Target Retirement Funds

Thought I would share the results of our meeting with this advisor at Vanguard. He personally doesn't like the Target Retirement funds due to glide path and heavy equity exposure for young investors. looking: This advisor quote doesn't make sense to me. Assuming Target Retirement funds are in tax-a...
by neurosphere
Mon Jan 18, 2016 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Incorporating with sibling to reduce taxes???
Replies: 21
Views: 1015

Re: Incorporating with sibling to reduce taxes???

Your other option is simply to lie about the income the business makes. Simply create fake expenses or fail to report profit until you "dial in" the amount of taxes you wish to pay. The strategy I'm recommending is not legal. Nor is the strategy which forms the basis of your question. You ...
by neurosphere
Sat Jan 09, 2016 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Bad health news, rethinking everything
Replies: 40
Views: 7425

Re: Bad health news, rethinking everything

Very sorry to hear about your mother. I had a similar experience a few years ago, with a rapid death from cancer in one parent and a new diagnosis of cancer with uncertain prognosis in another. My medical specialty is pediatric neurology/epilepsy. I decided that spending time with my and my wife's r...
by neurosphere
Fri Jan 08, 2016 6:45 pm
Forum: Investing - Theory, News & General
Topic: NY Real Estate vs. The Stock Market
Replies: 38
Views: 2628

Re: NY Real Estate vs. The Stock Market

Are we supposed to ignore property taxes, maintenance, insurance, etc?

What about closing costs at the purchase, and any selling costs/fees they would need in order to cash out of their investment?
by neurosphere
Fri Jan 08, 2016 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard fee to buy backdoor Roth?
Replies: 24
Views: 1432

Re: Vanguard fee to buy backdoor Roth?

Seriously? How does one obtain a Vanguard coffee mug? You buy one. Or two. http://i63.tinypic.com/do546s.jpg A low cost coffee mug for high priced Starbucks coffee! That's a good idea (the mugs, not Starbucks). I need some more mugs, and may as well contribute to Vanguard. I buy Vanguard gear all t...
by neurosphere
Fri Jan 08, 2016 4:19 pm
Forum: Investing - Theory, News & General
Topic: Sharing Advice from meeting with High Level Vanguard Advisor
Replies: 61
Views: 8653

Re: Sharing Advice from meeting with High Level Vanguard Advisor

I was somewhat surprised he was very adamant on even young people being static around 60/40 to 70/30, if you can afford to take down your debts and save money, dollar cost average through setting up automatic investing through your paycheck. Yes. This is the part I ever so strongly disagree with. W...
by neurosphere
Fri Jan 08, 2016 3:03 pm
Forum: Investing - Theory, News & General
Topic: Sharing Advice from meeting with High Level Vanguard Advisor
Replies: 61
Views: 8653

Re: Sharing Advice from meeting with High Level Vanguard Advisor

I would say, that within the universe of potential answers/advice one might get, the advice given ranks in the top 5% in terms of overall quality. There is 5% we can all quibble about, which is what makes this board so fun. This of course assumes that the implementation of the suggested asset alloca...
by neurosphere
Thu Jan 07, 2016 4:38 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 2901
Views: 612260

Re: U.S. stocks in freefall

If in 30 days, when my fears of a systemic shock don't pan out or look likely, I am going back into stocks. I know this defies wisdom and the philosophy. But I don't see myself getting substantially hurt by this move this one time. You buy homeowner's insurance in the event of a fire. It costs you ...
by neurosphere
Sat Dec 19, 2015 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Slate: "Prophets of Thrift"
Replies: 25
Views: 2841

Re: Slate: "Prophets of Thrift"

...The main problem with the latte' issue is behavioral. We simply don't have the mental fortitude to turn down a latte' (or your personal equivalent) every day. The key to successful saving (assuming adequate income) is to win the big battles and plan to lose the latte' battles. Perhaps you only h...
by neurosphere
Sat Dec 19, 2015 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: Concerned about 457(b) plan - advice needed!
Replies: 18
Views: 1278

Re: Concerned about 457(b) plan - advice needed!

I recently "added" an employer to my list and have access to a non-gov 457, and agonized over whether to contribute. Then I found out that the health system had sold bonds to finance the building of a new hospital. I checked the bond ratings of those bonds and did not like what I saw. That...
by neurosphere
Tue Dec 15, 2015 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: The psychology of high deductible health plans
Replies: 102
Views: 7498

Re: The psychology of high deductible health plans

I have a question. Given that we know that, in general, that people are 1) motivated by financial incentives and 2) an HDHP might therefore motivate someone NOT to seek care when perhaps they should...do you... ...think that one should take into account this psychological/behavioral factors into acc...
by neurosphere
Mon Dec 14, 2015 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: The psychology of high deductible health plans
Replies: 102
Views: 7498

Re: The psychology of high deductible health plans

This one finding makes me wonder if there might be a hidden flaw in their methodology. The study population had a median income between $125k and $150k and I just can't believe that this population wouldn't be able to 'do the math' well enough to eliminate any behavioral impact on their decision-ma...

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