Search found 125 matches

by objectivefunction
Tue Dec 19, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

Well, there are Coverdall plans, there are trusts, there are probably other options of course, but I don't think any of them are superior to 529s or UTMAs at this dollar value. I'm still not sure what problem you see with 529 or UTMA. Do you expect your financial situation to be such that your kids...
by objectivefunction
Tue Dec 19, 2017 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

Life isn't always going to be equitable. Agreed. I want to at least try, but not try too hard. :) The line may be different for different people. I may not be able to maintain control of this thread, and maybe discussions of equitability are where it should go, but I'm particularly interested if I'...
by objectivefunction
Tue Dec 19, 2017 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

If one kid gets hand me downs your not going to go into a panic about adjusting for depreciation are you? Don't overthinking things like this. I appreciate the comment, because I can overthink things. I wouldn't make a big deal about paying for braces or hand-me-downs. But if it were a matter of on...
by objectivefunction
Tue Dec 19, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

If you want to avoid opening a custodial account, and don't want to put it in the 529 (or Grandpa doesn't want you to put it in the 529) then don't accept the money. So what you're saying is it is either 529 or UTMA and there are no other options? I've always thought of bogleheads as a friendly com...
by objectivefunction
Tue Dec 19, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

This statement also rubs me the wrong way if OP is intending to "adjust" the $1000/child so it seem more equitable to him: (I'm trying to be equitable given the fact that a $1,000 gift for the 6 month old has a lot longer to compound than for the 11yo.) I'm not sure why that should rub you the wron...
by objectivefunction
Tue Dec 19, 2017 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

I used to buy I bonds or EE bonds for my kids. EE bond rates are really low now, but I bonds are not too bad still. Not a bad idea. I-bonds could be redeemed tax-free to cover education expenses, but they could be redeemed otherwise for non-educational expenses. The drawbacks I see: 1. My income is...
by objectivefunction
Tue Dec 19, 2017 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

I've beaten this drum for a long time also. It is totally wrong for a parent to take a gift to the child and put it in the parent's own name. The fact that the child is a minor is irrelevant. The money belongs to the child and should be held in the child's name or in a UGMA account for the child. G...
by objectivefunction
Tue Dec 19, 2017 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

If you aren't comfortable with money in your kids' names, man (or mom) up and tell the grandparents you can't accept the gift. If you accept it, it belongs to the kid. A 529 is ok, or a custodial account. An account in your name, probably not. I'm not sure why I'm reading this as unnecessarily conf...
by objectivefunction
Tue Dec 19, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

Re: What to do with money from grandparents for kids?

What problem do you see with the custodial account? Mostly what is mentioned here: http://fairmark.com/kids-college/utma/problems-with-custodial-accounts/. Even the "advantages" of custodial accounts is mostly a discussion of the disadvantages: http://fairmark.com/kids-college/utma/advantages-of-cu...
by objectivefunction
Tue Dec 19, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with money from grandparents for kids?
Replies: 31
Views: 1330

What to do with money from grandparents for kids?

I have received $1,000/kid as a gift from grandparents (oldest is 11; youngest 6 months). I have established 529 accounts for each of my children, and they each have varying amounts of money in them. (I'm trying to be equitable given the fact that a $1,000 gift for the 6 month old has a lot longer t...
by objectivefunction
Sat Dec 09, 2017 8:58 am
Forum: Investing - Help with Personal Investments
Topic: Personal Retirement options
Replies: 2
Views: 318

Re: Personal Retirement options

You might be able to use a traditional IRA depending on income limits. You might also be able to do a backdoor contribution to your Roth. There's also the possibility of an HSA if you feel like that's an appropriate trade-off for you. If you have some side income you could open a solo 401k. Otherwis...
by objectivefunction
Thu Dec 07, 2017 10:49 am
Forum: Investing - Theory, News & General
Topic: When Bitcoin blows-up
Replies: 55
Views: 4651

Re: When Bitcoin blows-up

Given the institutional players getting involved in bitcoin now, I expect any blow up and wider contagion would be financial sector related. Here are a couple of articles about the subject: "Bitcoin Is an Emerging Systemic Risk" https://www.coindesk.com/bitcoin-emerging-systemic-risk/ "Fed Vice Chai...
by objectivefunction
Thu Dec 07, 2017 10:44 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Bitcoin & It’s Risks
Replies: 57
Views: 5060

Re: Larry Swedroe: Bitcoin & It’s Risks

HomerJ wrote:
Thu Dec 07, 2017 10:16 am
Sure, you can. You just proved you can. 37% is a not insignificant percentage.
After bitcoin, the next cryptocurrency by marketcap is Ethereum which has 9% of the cryptocurrency market. To be clear I'm not saying that bitcoin cannot be supplanted, I'm saying it is not *easy*.
by objectivefunction
Thu Dec 07, 2017 10:08 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Bitcoin & It’s Risks
Replies: 57
Views: 5060

Re: Larry Swedroe: Bitcoin & It’s Risks

Hello Larry, thanks for the article. I have a question. Could a "mega" bitcoin bubble and bust spill over into the real economy? How would the contagion be transmitted? Can and should investors protect themselves somehow? Not Larry, but here are a couple of recent articles that talk about the possi...
by objectivefunction
Fri Dec 01, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP/HSA? employer covers 100% of premium
Replies: 4
Views: 475

Re: HDHP/HSA? employer covers 100% of premium

sailaway wrote:
Fri Dec 01, 2017 5:13 pm
Does your employer offer any seed money for the HDHP plan?
My employer does not contribute anything to the HSA.
by objectivefunction
Fri Dec 01, 2017 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP/HSA? employer covers 100% of premium
Replies: 4
Views: 475

HDHP/HSA? employer covers 100% of premium

I'm enrolling in benefits and have an option to either take a PPO plan with $750/$2250 deductible, $4,000/$8,000 out-of-pocket max, $25 co-pay, and $5/$25/$40/$45 prescriptions, or an HSA compatible plan with $2,600/$5,200 deductible (30% coinsurance after the deductible is met), $7,000/$14,000 out-...
by objectivefunction
Sun Sep 17, 2017 7:50 am
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

Why, other than pure speculation, do you think there is any expected return for taking the extra risk of crypto-currencies (or any other currency, or commodity for that matter)? For me it is pure price speculation. There are two reasons I think cryptocurrency prices will go up: 1) If bitcoin (or ot...
by objectivefunction
Sun Sep 17, 2017 6:28 am
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

The question of whether cryptocurrencies make crimes easier is pretty far afield of the original topic of this thread, but if you are truly open to hearing my argument, and you are willing to suffer a wall of text, then I will make it. I will address: Did I falsely attribute motivations to you? Is i...
by objectivefunction
Sat Sep 16, 2017 6:37 am
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

Maybe you don't have a child you love as much as I do ... You're just fear mongering. Did you intentionally ignore my previous posts? I gave several actual resources by actual law enforcement personnel that documented how they are actually using the public bitcoin ledger to track and catch criminal...
by objectivefunction
Fri Sep 15, 2017 2:38 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

- there seems to be the possibility of an infinity of cyber currencies, thus, bitcoin always has alternatives. That makes it hard to believe that it will keep its value If this is what Dimon is saying, it seems a rather naive thing to say (to me). There's a network effect to a cryptocurrency, and t...
by objectivefunction
Fri Sep 15, 2017 2:28 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

I'd also add that because of Chainalysis there are (anecdotal) reports in places like reddit by people who get blacklisted from creating accounts at US exchanges because of paying bitcoins to online gambling sites. There was also a case of a cybersecurity firm that had coinbase close its accounts be...
by objectivefunction
Fri Sep 15, 2017 2:16 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

- much of that so far is illegal activities - payment of ransomware, bypassing of Chinese exchange controls - we may have a view whether China should have FX controls, but it does right now, and Bitcoin was a way around it Do you have a reputable source for this information, or are you just making ...
by objectivefunction
Fri Sep 15, 2017 6:05 am
Forum: Personal Consumer Issues
Topic: Audio books
Replies: 28
Views: 1954

Re: Audio books

I like to get books from the library, or listen to classic out-of-copyright books from LibriVox. The LibriVox books are read by volunteers, so sometimes they're not the most engaging reader, but there are some surprisingly good readers as well.
by objectivefunction
Fri Sep 15, 2017 6:03 am
Forum: Personal Consumer Issues
Topic: Account security - Hackers gain access to mobile and then break havoc
Replies: 159
Views: 14027

Re: Account security - Hackers gain access to mobile and then break havoc

I agree that TOTP is much better than SMS. I does not require an Internet or cell connection. My concern was always that I'd have my phone setup with all these accounts, and then either loose it or forget to migrate them to a new phone or something. I ended up getting a Yubikey NEO, which allows me ...
by objectivefunction
Fri Sep 15, 2017 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Wiki article - Credit freeze
Replies: 49
Views: 7181

Re: Wiki article - Credit freeze

Not sure if it is worth noting that in some states placing a credit freeze is free. Also, if you are a victim of identity theft placing a freeze should be free.
by objectivefunction
Fri Sep 15, 2017 5:42 am
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

Once bitcoin goes to zero I'll still have my private keys...I may frame them.
by objectivefunction
Thu Sep 14, 2017 10:29 am
Forum: Investing - Theory, News & General
Topic: Bitcoin is dropping right now after a big Chinese exchange announces closure
Replies: 84
Views: 7371

Re: Bitcoin is dropping right now after a big Chinese exchange announces closure

https://www.cnbc.com/2017/09/14/bitcoin-is-dropping-right-now-after-a-big-chinese-exchange-said-it-is-closing.html BTC China said in a tweet Thursday it will close down its operations by Sept. 30 as Chinese authorities crack down on cryptocurrencies Wondering if this is it the beginning of the end!...
by objectivefunction
Thu Sep 14, 2017 6:12 am
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 263
Views: 37722

Re: What is Bitcoin?

I can start a new blockchain without any cryptocurrency, while still gaining the advantages of a blockchain. What you're missing here is defining what "advantages of a blockchain" means. My contention is that what you think are advantages of a blockchain are actually advantages of the *bitcoin syst...
by objectivefunction
Wed Sep 13, 2017 12:35 pm
Forum: Personal Consumer Issues
Topic: Secure File Transfer
Replies: 6
Views: 666

Re: Secure File Transfer

https://send.firefox.com/ Encrypts the file in your browser using local javascript and a password you supply, then uploads it to Mozilla servers and creates a link. Provide the link and the password (ideally through different communication mediums) to the intended recipient. They click the link, pr...
by objectivefunction
Wed Sep 13, 2017 8:11 am
Forum: Personal Consumer Issues
Topic: Secure File Transfer
Replies: 6
Views: 666

Secure File Transfer

I am needing to send an insurance claim via the Internet, and I don't want to send the data as an unencrypted e-mail attachment. I would be comfortable using PGP, but I think that would be too much to ask of the other side. I might even be willing to use google drive or something (even though it's n...
by objectivefunction
Wed Sep 13, 2017 5:19 am
Forum: Investing - Theory, News & General
Topic: Wiki article - Bitcoin
Replies: 37
Views: 4984

Re: Wiki article - Bitcoin

The warnings are targeted for new investors, so we need to keep the terminology easy to understand. "volatile" and "illiquid" won't be understood unless you already have some background in this area. Yes, that's reasonable! I think the warning should stay then. Most of the text is copied verbatim f...
by objectivefunction
Wed Sep 13, 2017 5:06 am
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 263
Views: 37722

Re: What is Bitcoin?

No cryptocurrency is required to make use of blockchain technology That's not true of Ethereum (it has a native ether currency) and I don't believe it is true of blockchain in general. I don't believe blockchain divorced from a native currency will ever work. The whole reason Bitcoin works is becau...
by objectivefunction
Tue Sep 12, 2017 12:34 pm
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 263
Views: 37722

Re: What is Bitcoin?

On September 5, 2017, the Bank of Finland published a research discussion paper entitled "Monopoly without a monopolist: An economic analysis of the bitcoin payment system" (https://helda.helsinki.fi/bof/bitstream/handle/123456789/14912/BoF_DP_1727.pdf). Written by three authors (Gur Huberman, Jacob...
by objectivefunction
Tue Sep 12, 2017 9:48 am
Forum: Investing - Theory, News & General
Topic: Wiki article - Bitcoin
Replies: 37
Views: 4984

Re: Wiki article - Bitcoin

One could possibly see a situation in which a highly knowledgeable, very experienced investor with a large and otherwise well diversified portfolio of low cost index funds could make an carefully-reasoned argument in favor of a very small allocation - say, 1% - to a diversified basket of cryptocurr...
by objectivefunction
Fri Sep 08, 2017 4:29 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin in 3-fund indexed portfolio?
Replies: 191
Views: 17676

Re: Bitcoin in 3-fund indexed portfolio?

.. You probably aren't considering 'investing' in Canadian Dollars or British Pounds or Euros or whatever. .. I wanted to come back to this. Yes, you are right, I don't consider investing in other currencies. But why don't I? Or why don't most people? If you're coming from an indexing perspective i...
by objectivefunction
Fri Sep 08, 2017 4:19 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin in 3-fund indexed portfolio?
Replies: 191
Views: 17676

Re: Bitcoin in 3-fund indexed portfolio?

Thanks, I didn't know that. What, then, will be the incentive for people to donate processing power once the bitcoin reward is negligible? After all the bitcoins have been mined (which is expected to happen in about 2140) miners will get paid to add blocks to the blockchain via transaction fees. Ac...
by objectivefunction
Fri Sep 08, 2017 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Scanning Documents for Long Term Storage
Replies: 20
Views: 2435

Re: Scanning Documents for Long Term Storage

Once you have a clear timeline from a lawyer and/or CPA, you'll have a better idea how safe you need to keep them. I would not put them in "the cloud" unencrypted. You could put them on an external drive or thumb drive and store it in your house or a safe deposit box or something. If there is a minu...
by objectivefunction
Fri Sep 08, 2017 1:41 pm
Forum: Investing - Theory, News & General
Topic: [Bitcoin] question
Replies: 131
Views: 11900

Re: If Ethereum was hacked then the creators edited the ledger, doesnt that mean...

So if 51% of the miners (by computer power) decide they'd rather see a different ledger and account balances they are free to create it? Frankly that doesn't sound very secure. At all... I don't have the exact numbers at hand, but it is not trivial to consolidate 51% of the bitcoin mining power. As...
by objectivefunction
Fri Sep 08, 2017 1:09 pm
Forum: Investing - Theory, News & General
Topic: [Bitcoin] question
Replies: 131
Views: 11900

Re: If Ethereum was hacked then the creators edited the ledger, doesnt that mean...

No one really stole money from anyone. The DAO hacker could withdraw the money (as Ethereum Classic) they stole, but it is worth a lot less now because the price of Ethereum Classic has declined as compared to Ethereum. In an alternative history on the (official) Ethereum blockchain, the DAO never e...
by objectivefunction
Fri Sep 08, 2017 12:54 pm
Forum: Investing - Theory, News & General
Topic: Robert Shiller on bitcoin & information cascades
Replies: 21
Views: 2173

Re: Robert Shiller on bitcoin & information cascades

Here's a "debate" between Shiller and Brian Kelly about whether Bitcoin is in a bubble.

https://www.cnbc.com/video/2017/09/06/t ... ubble.html
by objectivefunction
Fri Sep 08, 2017 6:35 am
Forum: Investing - Theory, News & General
Topic: Bitcoin in 3-fund indexed portfolio?
Replies: 191
Views: 17676

Re: Bitcoin in 3-fund indexed portfolio?

I like your response, thanks for chiming in. To follow up on the "buy the haystack" analogy, which I find useful, would Bitcoin be part of the haystack? What about Gold? Or does the total stock + US bond cover everything? I think the "buy the haystack" analogy as applied to cryptocurrencies would m...
by objectivefunction
Wed Sep 06, 2017 3:01 pm
Forum: Investing - Help with Personal Investments
Topic: Bought crypto currency
Replies: 67
Views: 4762

Re: Bought crypto currency

everyone gets it... just you guys lol go read the news and catch up lol i share my findings caues im actually trying to CONTRIBUTE intellectually my findings and good information.... i am not doing it to seek validation from anyone . i am invested. I'm sorry to say that I don't think you are contri...
by objectivefunction
Wed Sep 06, 2017 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Bought crypto currency
Replies: 67
Views: 4762

Re: Bought crypto currency

steadyeddy wrote:
Wed Sep 06, 2017 12:58 pm
I found this BCG paper helpful for understanding blockchain, some potential applications, and its constraints: https://www.bcg.com/blockchain/thinking ... locks.html
That's a good write up. Even though I think it gets some things wrong, it gets a lot of things right. Worth a read.
by objectivefunction
Wed Sep 06, 2017 11:02 am
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 11133

Re: When calculating net worth, how do you value your house?

I tend to care more about "investable assets," so I pay attention to savings accounts, retirement accounts, taxable accounts. I do track how much equity I have in my house by comparing the purchase price to the loan balance. I don't bother with trying to guess at my house's value. Occasionally I tak...
by objectivefunction
Wed Sep 06, 2017 9:39 am
Forum: Personal Consumer Issues
Topic: Wine in laptop
Replies: 33
Views: 2816

Re: Wine in laptop

Some laptops have a drain hole for if (or when) you spill liquid on the keyboard. I can't tell if the Spectre does, but even then you might still have to replace the keyboard even if the rest of the computer was protected from damage. I've replaced the keyboard on two different laptops myself, but I...
by objectivefunction
Wed Sep 06, 2017 9:20 am
Forum: Investing - Help with Personal Investments
Topic: Bought crypto currency
Replies: 67
Views: 4762

Re: Bought crypto currency

The bottom line is long term world governments aren't going to tolerate competition with government issued currency and it's going to go away. Several countries have already banned it, several more are expected to shortly. It really seems like your trolling, but yet you're not a newly created accou...
by objectivefunction
Wed Sep 06, 2017 8:56 am
Forum: Investing - Theory, News & General
Topic: Robert Shiller on bitcoin & information cascades
Replies: 21
Views: 2173

Re: Robert Shiller on bitcoin & information cascades

Interesting. I'd like to read Irrational Exuberance, but have not. I think Shiller is right that the story around bitcoin matters. Though there's not just one story. There are as many stories as there are people. This is part of why I argue against people claiming that bitcoin is just for anarchists...
by objectivefunction
Tue Sep 05, 2017 4:16 pm
Forum: Investing - Theory, News & General
Topic: Three Centuries of Asset Returns, 1694-2015
Replies: 35
Views: 4896

Re: Three Centuries of Asset Returns, 1694-2015

Interesting discussion! Thanks for sharing.
by objectivefunction
Tue Sep 05, 2017 9:12 am
Forum: Personal Consumer Issues
Topic: Credit card and now gmail hacked - what to do?
Replies: 8
Views: 1485

Re: Credit card and now gmail hacked - what to do?

Is it possible that you logged into your gmail from a public computer, then forgot to log out?

I would think if someone compromised your gmail account they would have changed the password on you.