Search found 2629 matches

by simplesimon
Fri Aug 26, 2016 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits - Basics
Replies: 30
Views: 2279

Re: Social Security - Spousal Benefits - Basics

Thanks HueyLD! That helps me understand. I thought I saw something about her being able to get the benefit once I was "eligible" for a benefit, not necessarily "receiving" a benefit. Maybe that's the obsolete "file and suspend" strategy that drawpoker mentioned? But th...
by simplesimon
Thu Aug 25, 2016 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Disability insurance
Replies: 3
Views: 337

Re: Disability insurance

Yes it would be a good idea for the reasons you just outlined. There are some other things a good policy should include such as non-cancelable/guaranteed renewable, own occupation rider and residual/recovery benefit. There are some others but these are the top ones to have.
by simplesimon
Wed Aug 24, 2016 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone bought a home with Redfin?
Replies: 21
Views: 3358

Re: Has anyone bought a home with Redfin?

Interesting thread. As someone interested in buying in the next few years I'd be curious to see if and how Redfin changes the home-buying experience.

Is Redfin completely DIY? Or does it connect you with good realtors and you can work with them outside of Redfin as well?
by simplesimon
Tue Aug 23, 2016 1:54 pm
Forum: Investing - Theory, News & General
Topic: The power of investing early VS. Dollar cost averaging
Replies: 29
Views: 2381

Re: The power of investing early VS. Dollar cost averaging

Sorry for missing information. My company matches dollar for dollar up to 6%. They deposit the matches every quarter. Is there any benefit of spreading our my contributions vs. making it all in the first quarter that would affect the amount my employer contributes/matches? This was the point that w...
by simplesimon
Tue Aug 23, 2016 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Term life insurance advice
Replies: 7
Views: 546

Re: Term life insurance advice

What is your income? This will determine if $1 million is overinsuring or underinsuring yourself. Get a 30-year policy to get you to social security.
by simplesimon
Tue Aug 23, 2016 8:40 am
Forum: Investing - Theory, News & General
Topic: The power of investing early VS. Dollar cost averaging
Replies: 29
Views: 2381

Re: The power of investing early VS. Dollar cost averaging

(And with many employers, you don't want to max out the 401(k) early, because you'll lose the employer match once you hit the limit.) Can you expand on this? My company matches 6% per quarter but I didn't think it mattered when I hit the 18K max... Many employers match based on contributions, e.g. ...
by simplesimon
Mon Aug 22, 2016 4:36 pm
Forum: Investing - Help with Personal Investments
Topic: How do you view debt?
Replies: 107
Views: 6003

Re: How do you view debt?

I agree with others that debt is a tool but I view most personal debt as bad since average people use it to finance consumption (bigger car, house, vacation, whatever). I hate that the mortgage markets have pushed property values sky high in my area. Just because a lot of people are willing to give ...
by simplesimon
Mon Aug 22, 2016 9:31 am
Forum: Investing - Help with Personal Investments
Topic: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?
Replies: 85
Views: 6341

Re: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?

Have you looked into P2P lending? Sounds like you have some appetite for risk. There were previous discussions about Lending Club's platform having uncompensated risk if the company were to shut down and people here who do use it seem to be winding down their positions as returns start to diminish, ...
by simplesimon
Mon Aug 22, 2016 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Why don't ultra high net worth athletes just use a 3-fund portfolio?
Replies: 30
Views: 2260

Re: Why don't ultra high net worth athletes just use a 3-fund portfolio?

Now Tim Duncan on the other hand...... This made me laugh. Duncan's probably all in muni's. I wonder what Kobe's expenses look like. He was making $20MM+ a year for a long time...$8MM/year might not be enough to support his standard of living especially in LA. Duncan at least got used to living in ...
by simplesimon
Mon Aug 22, 2016 7:59 am
Forum: Personal Consumer Issues
Topic: Favorite Asian Vacation?
Replies: 37
Views: 3192

Re: Favorite Asian Vacation?

Very nice list of places you've been to and I was surprised Taiwan wasn't on the list. I also recommend Taiwan for the reasons other have stated and since you mentioned you're active and adventurous. Visit a different night market every night!
by simplesimon
Mon Aug 22, 2016 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Why don't ultra high net worth athletes just use a 3-fund portfolio?
Replies: 30
Views: 2260

Re: Why don't ultra high net worth athletes just use a 3-fund portfolio?

Now Tim Duncan on the other hand...... This made me laugh. Duncan's probably all in muni's. I wonder what Kobe's expenses look like. He was making $20MM+ a year for a long time...$8MM/year might not be enough to support his standard of living especially in LA. Duncan at least got used to living in ...
by simplesimon
Sun Aug 21, 2016 5:57 pm
Forum: Investing - Help with Personal Investments
Topic: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?
Replies: 85
Views: 6341

Re: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?

Nothing wrong with a short-term bond fund or a CD ladder like you suggest while you try to gather some more information. In five years you can reassess and you'll either have a pile of cash that's ready for your new house and baby or a pile of cash ready to invest.
by simplesimon
Sun Aug 21, 2016 8:20 am
Forum: Investing - Help with Personal Investments
Topic: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?
Replies: 85
Views: 6341

Re: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?

He shouldn't have asked you to invest in the first place. He should be just as averse to asking friends to invest as you are to investing with friends. I am a corporate banking underwriter and have worked with wholesale distributors and retailers. Asset-based revolving loans are very common to fund ...
by simplesimon
Fri Aug 19, 2016 2:35 pm
Forum: Investing - Help with Personal Investments
Topic: Just began my career and would love help investing!
Replies: 22
Views: 2120

Re: Just began my career and would love help investing!

Just doing some back of the envelope math here: $270k income less $36k 401k contributions times (1-50% taxes/FICA) is $117k after taxes and $106k after IRA contributions, which leaves you with almost $8.8k/month to spend, $11.3k after the in-laws contribution. Your estimate of 117k in taxes seems q...
by simplesimon
Fri Aug 19, 2016 10:08 am
Forum: Investing - Help with Personal Investments
Topic: Just began my career and would love help investing!
Replies: 22
Views: 2120

Re: Just began my career and would love help investing!

Wow!! I can't believe you calculated all that for me, I really appreciate it...can't thank you enough. Looks like I'll be picking up another on call job sigh ... With the numbers spelled out like that you may want to think hard about your priorities. You clearly want to take care of your children's...
by simplesimon
Fri Aug 19, 2016 7:15 am
Forum: Investing - Help with Personal Investments
Topic: Just began my career and would love help investing!
Replies: 22
Views: 2120

Re: Just began my career and would love help investing!

Private school...k-12, going to be drowning in debt! Trying to save as much as we can now to afford it. Private k-8 isn't too bad, around 15k/year for all, high school is ridiculous nowadays, 20k/year per kid!! Can't imagine how much it'll be when they go. We're saving now for a house now while liv...
by simplesimon
Tue Aug 16, 2016 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Management (Career Change)
Replies: 105
Views: 8037

Re: Wealth Management (Career Change)

Wonder how customers would respond if a FA offered multiple pricing options that spelled out how much each option would cost them. The problem seems to be lack of transparency.
by simplesimon
Mon Aug 15, 2016 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Wealth Management (Career Change)
Replies: 105
Views: 8037

Re: Wealth Management (Career Change)

Meg77 wrote:The problem is that many clients and advisors still resist that model and feel more comfortable with charging/paying for assets under management.


I can understand why FA's don't want to change to an hourly rates/retainer model, but why would a client resist this?
by simplesimon
Mon Aug 15, 2016 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Wealth Management (Career Change)
Replies: 105
Views: 8037

Re: Private Wealth Management (Career Change)

For high net worth clients, the opportunity to eliminate investment/insurance/tax complications/behavioral issues for <$10k may seem appealing. I know several people that wouldn't bat an eye and fully realize the cost they are paying. Do these people know there are other advisors who do the same th...
by simplesimon
Mon Aug 15, 2016 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Wealth Management (Career Change)
Replies: 105
Views: 8037

Re: Private Wealth Management (Career Change)

For high net worth clients, the opportunity to eliminate investment/insurance/tax complications/behavioral issues for <$10k may seem appealing. I know several people that wouldn't bat an eye and fully realize the cost they are paying. Do these people know there are other advisors who do the same th...
by simplesimon
Mon Aug 15, 2016 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Wealth Management (Career Change)
Replies: 105
Views: 8037

Re: Wealth Management (Career Change)

The justification for a 1% fee is a little disturbing coming from someone who claims to be a Boglehead to want to help people. Sure one may need to work for a company like ML or UBS to gain experience and get licenses paid for, but don't be fooled that the FA's there are doing anybody a service. For...
by simplesimon
Sat Aug 13, 2016 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Undergrad business UMass Amherst Isenberg or Bentley
Replies: 14
Views: 1069

Re: Undergrad business UMass Amherst Isenberg or Bentley

I am not native to the Northeast but work in Boston. If your son intends to stay in the Northeast, I don't believe there's really a difference when it comes to undergraduate recruiting. Bentley may have an edge in accounting, but not a $40k/year difference. As others have said the vibes are very dif...
by simplesimon
Fri Aug 12, 2016 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa 2% cash back
Replies: 31
Views: 3647

Re: Fidelity Rewards Visa 2% cash back

I use it for almost all my purchases. No problems. Rarely had to use customer service and when I did I had a positive experience.
by simplesimon
Wed Aug 10, 2016 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Life insurance for 31 year-old
Replies: 20
Views: 1513

Re: Life insurance for 31 year-old

I am in a similar situation and have gotten good feedback from here and other resources like articles on term4sale.com.

Check with your agent or policy if it will let you reduce the amount of coverage and premium later in life. This is effectively the same as laddering except you keep an option.
by simplesimon
Tue Aug 02, 2016 10:37 pm
Forum: Personal Consumer Issues
Topic: Costco rotisserie chicken
Replies: 82
Views: 8597

Re: Costco rotisserie chicken

For anybody interested in the finance side of things:

Why Costco May Never Raise Prices on $4.99 Chickens, $1.50 Hot Dogs
by simplesimon
Tue Aug 02, 2016 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance IN ADDITION to employer provided
Replies: 2
Views: 192

Re: Disability Insurance IN ADDITION to employer provided

Currently, my employer offers free group LTD and I can't opt out. As a result, my individual DI policy was underwritten so that my benefit is lower than what I would get without being covered with a group policy. So I still got a policy, just one with reduced benefits and with a rider that says I ca...
by simplesimon
Wed Jul 27, 2016 7:26 am
Forum: Personal Finance (Not Investing)
Topic: BigLaw compensation portrayed accurately by media?
Replies: 43
Views: 4677

Re: BigLaw compensation portrayed accurately by media?

As someone far removed from this business I find the discussion fascinating. Why is there such an emphasis on massive billed hours for associates to make partner? I thought the job of a partner revolved around gathering clients, keeping them happy, managing a team of lawyers on big cases and ensuri...
by simplesimon
Tue Jul 26, 2016 5:15 pm
Forum: Investing - Theory, News & General
Topic: How to liability match home rent ?
Replies: 15
Views: 1130

Re: How to liability match home rent ?

Not without taking on extra risk. It's possible these investments don't correlate with the rent increases, like if the underlying property values crash. You would still need a place to stay and pay rent. Work hard. Negotiate pay raises. Network. Keep an eye out for opportunities to change to a highe...
by simplesimon
Tue Jul 26, 2016 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: BigLaw compensation portrayed accurately by media?
Replies: 43
Views: 4677

Re: BigLaw compensation portrayed accurately by media?

Bimodal distribution is right and if there was a chart showing number of positions available by income, the BigLaw numbers are completely dwarfed by everything else. One shouldn't choose a career path solely for the money, but law school is an exceptionally poor proposition from a financial perspect...
by simplesimon
Sun Jul 24, 2016 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Allstate Umbrella Insurance
Replies: 33
Views: 2612

Re: Allstate Umbrella Insurance

I currently have 3 policies with Allstate. Auto, home and flood. Ive been a customer for about a year have made all my payments on time and have never had any issues and on top of it my credit score is over 900. So I ask for a 1 million dollar Umbrella policy quote and they quote me $832 for the ye...
by simplesimon
Sat Jul 23, 2016 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Roth vs. Traditional when income varies
Replies: 18
Views: 594

Re: Roth vs. Traditional when income varies

Does your spouse have a 401k plan at work? This may affect how much you can deduct by contributing to a traditional IRA.
by simplesimon
Sat Jul 23, 2016 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Getting Disability Insurance without financial planning services
Replies: 22
Views: 1753

Re: Getting Disability Insurance without financial planning services

I know this has been covered before, but for others searching this thread, is there a better way to find a Guardian DI person than just using the Guardian website "Find a Representative" feature? I didn't end up getting a Guardian policy, but the agent I worked with would have sold me one...
by simplesimon
Sat Jul 23, 2016 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Term life insurance - "overinsured" definition
Replies: 13
Views: 1086

Re: Term life insurance - "overinsured" definition

Did you know that you can reduce the face amount (and the premium) whenever you want on the single big policy? Given that, there is really no need to do the laddering for such a tiny difference in cost (which is partly because there is a (generally fixed) "policy fee" for each policy, so ...
by simplesimon
Sat Jul 23, 2016 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Term life insurance - "overinsured" definition
Replies: 13
Views: 1086

Re: Term life insurance - "overinsured" definition

Thanks for the replies. Assume someone of average health wants to cover $50k of inflation adjusted income (3%) and expects to stop working in 30 years. I calculated what the income level would be at years 0, 10, and 20, and assumed the benefit could be invested to match inflation. 30 year term $900k...
by simplesimon
Fri Jul 22, 2016 3:38 pm
Forum: Investing - Help with Personal Investments
Topic: USA vs. International Stock Index PERFORMANCE. Please reassure Me!
Replies: 25
Views: 2096

Re: USA vs. International Stock Index PERFORMANCE. Please reassure Me!

International doesn't look good if you look at the last 15 years either. Performance this century certainly doesn't suggest that buying the ex-US index makes sense. It has been a bad investment. It may or may not be good over the next 15 years, but I haven't seen any reason to believe that the pict...
by simplesimon
Fri Jul 22, 2016 3:29 pm
Forum: Investing - Help with Personal Investments
Topic: USA vs. International Stock Index PERFORMANCE. Please reassure Me!
Replies: 25
Views: 2096

Re: USA vs. International Stock Index PERFORMANCE. Please reassure Me!

Again, it's all about the time period. Would you have said the same thing about the two asset classes in 2007?
by simplesimon
Fri Jul 22, 2016 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Term life insurance - "overinsured" definition
Replies: 13
Views: 1086

Re: Term life insurance - "overinsured" definition

I realize now that in my original calculation wages did not keep up with inflation or that a lump sum portfolio would grow 3% more than inflation.

It does seem like a laddered life insurance policy may ensure that an individual isn't overinsured towards the end of the term.
by simplesimon
Fri Jul 22, 2016 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Term life insurance - "overinsured" definition
Replies: 13
Views: 1086

Term life insurance - "overinsured" definition

Most of the advice I was able to find to determine term life insurance amount was either A) buying enough to cover current liabilities (mortgage, student loans) and future liabilities (children's college tuition, vacation home), or B) a multiple of income (10x income). Isn't overinsuring defined by ...
by simplesimon
Thu Jul 21, 2016 7:57 am
Forum: Investing - Theory, News & General
Topic: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?
Replies: 25
Views: 2627

Re: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?

Why then do companies seem to care about the price of their stock? When the price of a stock falls dramatically, it is generally reported as bad news for the company. I understand that there may be a fundamental reason for the price to drop, but does the company really care about the price of its s...
by simplesimon
Wed Jul 20, 2016 1:28 pm
Forum: Investing - Theory, News & General
Topic: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?
Replies: 25
Views: 2627

Re: Why does a massive company like Coca Cola or Johnson Johnson need money from investors?

It's probably too obvious of a question. But I was wondering, these mega-corps make a ton of income. Why do they need extra capital from investors? And I'm assuming they are getting loans from banks/investors as well (that would be bonds, if I understand correctly). So what would be the purpose of ...
by simplesimon
Wed Jul 20, 2016 8:15 am
Forum: Investing - Help with Personal Investments
Topic: FTIPX - New Fidelity offering [Total International Index Fund]
Replies: 21
Views: 2245

Re: FTIPX - New Fidelity offering

It's too early to tell how well this fund tracks and a lot of trust is being given to Fidelity for administering the fund as well as Vanguard would. With almost no performance difference between Fidelity's Spartan funds and the respective Vanguard funds, there is little reason to believe Fidelity wo...
by simplesimon
Tue Jul 19, 2016 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: mortgage vs investing
Replies: 43
Views: 1941

Re: mortgage vs investing

Tigermoose, check out tfb's classic post The Case Against Roth 401(k).
by simplesimon
Tue Jul 19, 2016 11:13 am
Forum: Personal Finance (Not Investing)
Topic: mortgage vs investing
Replies: 43
Views: 1941

Re: mortgage vs investing

It does bother me, but since it's a small manageable amount, i feel like it really shouldn't bother me. I just want to have a clean slate, truly have no debt, etc. That's the emotional side of it. Logically, I can see it's better tax wise to really increase our retirement contributions, especially ...
by simplesimon
Tue Jul 19, 2016 11:10 am
Forum: Personal Finance (Not Investing)
Topic: mortgage vs investing
Replies: 43
Views: 1941

Re: mortgage vs investing

The benefit from putting more money into retirement accounts is that you save on taxes on each dollar you put into your 401K and IRA at your marginal rate (presumably at least 25% if you have income to support $1,150 PITI and $2,300 extra). The $2,300/month you have available are after tax dollars.....
by simplesimon
Tue Jul 19, 2016 10:34 am
Forum: Personal Finance (Not Investing)
Topic: mortgage vs investing
Replies: 43
Views: 1941

Re: mortgage vs investing

Lots of info to consider thanks so much for all the thoughts. Husband has 401k (fidelity) that we don't max out (we DO contribute up to the match...he can contribute up to $18k. I have a small business simple Ira (vanguard) which I can contribute up to $12,500/year. So we "could" contribu...
by simplesimon
Tue Jul 19, 2016 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Social Security situation
Replies: 2
Views: 394

Re: Social Security situation

You're right of course. Thank you. I thought there might be some extra wrinkles where certain rules don't apply since it's SSDI.
by simplesimon
Tue Jul 19, 2016 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Social Security situation
Replies: 2
Views: 394

Social Security situation

I purchased A Social Security Owner's Manual , thanks to these forums, to better understand SS to help my parents. It doesn't cover much about disability and I wanted to get clarification for a SS strategy, particularly around spousal benefits. Dad was born in 1951, mom born in 1956. Dad's the highe...
by simplesimon
Sun Jul 17, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Spousal Step Up Social Security Question
Replies: 46
Views: 2741

Re: Spousal Step Up Social Security Question

What's the terms of the current loan? Why not refinance now? The reason to take Social Security late and to maximize the survivor benefit is to insure against longevity. You can view the "foregone" earnings from delaying as the cost of insurance in case they both live for a long time, or i...
by simplesimon
Sat Jul 16, 2016 3:29 pm
Forum: Personal Consumer Issues
Topic: Clothing upgrade for professional environment
Replies: 78
Views: 4235

Re: Clothing upgrade for professional environment

I like that with a watch I can tell the time by very quickly glancing at my wrist. It helps when I want to be subtle about it during a meeting of some sort. A phone's screen typically has all sorts of notifications so I think it's a little less distracting to check the time with a watch over the pho...

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