Search found 3446 matches

by FIREchief
Fri Sep 13, 2019 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: "Estate Planning Checklist" (for all of us)
Replies: 21
Views: 3149

Re: "Estate Planning Checklist" (for all of us)

... Beneficiaries trump wills so it is very important to name them and to keep them up to date. Except for life insurance and retirement benefits it’s usually better not to name beneficiaries. Why would it be best not to name beneficiaries for anything other than life insurance and retirement benef...
by FIREchief
Fri Sep 13, 2019 4:20 pm
Forum: Personal Investments
Topic: IRA Trustee-to-Trustee, cash -- can this be simple?
Replies: 11
Views: 691

Re: IRA Trustee-to-Trustee, cash -- can this be simple?

I agree with you entirely. That's why I'm hoping there's a brokerage who makes this sort of thing simple (and quick), so I can do this in cooperation with them, instead of me wanting to circumvent them. 1. Open an IRA online at Brokerage “B” 2. Pick up the phone, call Brokerage “B” and tell them th...
by FIREchief
Fri Sep 13, 2019 4:15 pm
Forum: Personal Investments
Topic: Fidelity Website Question
Replies: 12
Views: 1119

Re: Fidelity Website Question

Yes, for me. I even added my wife's 401k and Roth IRA, so I can see all our Fidelity account with one login. I would be interested in learning how to do this - I cannot see my wife's 401K or Roth, although the Roth does appear on a consolidated statement. For the ROTH IRA, I am an Authorized User w...
by FIREchief
Fri Sep 13, 2019 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Whistleblowing / Going Rogue at Work
Replies: 122
Views: 5472

Re: Whistleblowing / Going Rogue at Work

So about a year ago I started emailing someone very high up in the company. I created a new Gmail email and started letting them know how messed up things are behind the scenes. There is an extremely large $ project going on and it's been a disaster from Day 1 and I was giving this person a behind ...
by FIREchief
Thu Sep 12, 2019 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to talk my elderly parents into seeing an elder lawyer.
Replies: 17
Views: 1989

Re: Trying to talk my elderly parents into seeing an elder lawyer.

Since, as OP concedes, neither parent is currently ready for assisted living or a nursing home, goading and herding them into a flurry of “planning for the next stage” is premature. Leave them in peace An estate attorney once told me that the optimal time for a person to establish MPOA, DPOA, Livin...
by FIREchief
Thu Sep 12, 2019 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Adding Trust Company Special Provisions after Trust becomes Irrevocable
Replies: 4
Views: 425

Re: Adding Trust Company Special Provisions after Trust becomes Irrevocable

I believe that this would be within the realm of a trust protector. A trust can be drafted so as to allow appointment of a trust protector at such time that certain terms of the trust (as defined within the trust document) may need be altered even though the trust is irrevocable.
by FIREchief
Wed Sep 11, 2019 6:15 pm
Forum: Investing - Theory, News & General
Topic: Can Traditional IRA or 401K dollars remain completely tax free?
Replies: 19
Views: 1408

Re: Can Traditional IRA or 401K dollars remain completely tax free?

Can $1 invested in a Traditional account remain completely tax free? Example: In retirement you withdraw the amount to cover the standard deduction from your Traditional IRA or 401K. So for today's tax law you could avoid tax on that $24,400? Assuming you follow all withdrawal rules. Your example w...
by FIREchief
Wed Sep 11, 2019 6:09 pm
Forum: Investing - Theory, News & General
Topic: Day Trading for a Living?
Replies: 44
Views: 3704

Re: Day Trading for a Living?

This will come as difficult news to this community, but according to this paper, basically nobody makes money day trading. Why on earth would you think that this would be "difficult news" to the Boglehead community? Day trading is about as far away from Bogleheaded that a person can get. :confused ...
by FIREchief
Wed Sep 11, 2019 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: When do you start gifting the max to your family members? When is enough NW totally enough?
Replies: 80
Views: 9032

Re: When do you start gifting the max to your family members? When is enough NW totally enough?

"But if I were a parent of teens or twenty somethings (and was financially able to do so), I would also consider funding Roth IRA up to their wage compensation or the annual IRS limit whichever is smaller - at least through HS and college. This would hopefully reinforce good savings habits and get ...
by FIREchief
Wed Sep 11, 2019 4:53 pm
Forum: Investing - Theory, News & General
Topic: Day Trading for a Living?
Replies: 44
Views: 3704

Re: Day Trading for a Living?

mindboggling wrote:
Wed Sep 11, 2019 4:28 pm
RadAudit wrote:
Wed Sep 11, 2019 4:07 pm


"If the market is constantly going up, day trading is easy" :D

If the market is constantly going up, buying and holding is easy, too.
Yeah, but day trading makes a person feel like they've earned it! :sharebeer
by FIREchief
Wed Sep 11, 2019 4:52 pm
Forum: Investing - Theory, News & General
Topic: Day Trading for a Living?
Replies: 44
Views: 3704

Re: Day Trading for a Living?

(deleted)
by FIREchief
Sun Sep 08, 2019 8:05 pm
Forum: Investing - Theory, News & General
Topic: Inflation likelihood and inflation protection
Replies: 29
Views: 1809

Re: Inflation likelihood and inflation protection

Blueskies123 wrote:
Sun Sep 08, 2019 4:24 pm
TIPs do not protect you against increasing real interest rates but at least they help a bit.
I use a ten year ladder of individual TIPS. I would love it if real interest rates increased! :beer
by FIREchief
Sun Sep 08, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend/Living Will/Trust question...
Replies: 19
Views: 1849

Re: Girlfriend/Living Will/Trust question...

Edit: I see the bulk of your grandfather's estate is in IRAs. Leaving retirement account distributions to trust is a level of complexity that a lot of trust and estate attorneys cannot handle. Bsteiner is actually the expert on this. Your grandfather may do well to hire him, if he cannot find an at...
by FIREchief
Sun Sep 08, 2019 2:33 pm
Forum: Investing - Theory, News & General
Topic: Inflation likelihood and inflation protection
Replies: 29
Views: 1809

Re: Inflation likelihood and inflation protection

My LMP is 100% individual TIPS. That's likely about as much protection as is possible for a US resident/investor.
by FIREchief
Fri Sep 06, 2019 8:16 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth: Why Risk-Profile Questionnaires Don’t Work
Replies: 48
Views: 3393

Re: Allan Roth: Why Risk-Profile Questionnaires Don’t Work

Good article. I've always felt that these surveys are largely worthless (for those reasons stated and others).
by FIREchief
Fri Sep 06, 2019 6:37 pm
Forum: Personal Consumer Issues
Topic: Pre-paid Funeral Expenses
Replies: 66
Views: 3658

Re: Pre-paid Funeral Expenses

I think the key variable in all of this is just what kind of "event(s)" a person and their family desires. Those who want and/or expect an elaborate affair likely can benefit their heirs by investing both time and money in advance preparations.
by FIREchief
Fri Sep 06, 2019 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: How to title a car
Replies: 42
Views: 2551

Re: How to title a car

I believe that this is mostly urban legend. Do you have a source? I do believe that if I let my kid (or anybody) drive my car while they are obviously intoxicated or have an awful known record of running over things/people, that I may be held liable. Simply owning a vehicle isn't the same thing. If...
by FIREchief
Fri Sep 06, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to title a car
Replies: 42
Views: 2551

Re: How to title a car

For liability reasons, titling in her name only is best. Some (most?) states hold the owner jointly liable with the driver: i.e. if she crashes and your name is on the title, both you and she are liable for all damages. I believe that this is mostly urban legend. Do you have a source? I do believe ...
by FIREchief
Fri Sep 06, 2019 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: How to title a car
Replies: 42
Views: 2551

Re: How to title a car

My understanding is that while the child lives under your roof and a dependent (i.e. you provide more than 50% of their expenses), the liability rests with you regardless. No. Does anybody have a reference to an actual court case that supports this? (I'm not interested in random articles written by...
by FIREchief
Fri Sep 06, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: How to title a car
Replies: 42
Views: 2551

Re: How to title a car

For liability reasons, titling in her name only is best. Some (most?) states hold the owner jointly liable with the driver: i.e. if she crashes and your name is on the title, both you and she are liable for all damages. I believe that this is mostly urban legend. Do you have a source? I do believe ...
by FIREchief
Fri Sep 06, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning - what instructions to leave for wife to handle finances
Replies: 19
Views: 2194

Re: Estate Planning - what instructions to leave for wife to handle finances

I think we're in similar situation. I also had will and trust setup. All assets have been moved into trust. One more thing that I did in advance is to make sure she has a "permanent" credit card without annual fee. I then make sure that every bill is auto-bill to this credit card: 1) Utilities 2) A...
by FIREchief
Fri Sep 06, 2019 2:29 pm
Forum: Investing - Theory, News & General
Topic: Boglehead Contest -- "Wall Street has no idea how stocks will end 2019, with forecasts ranging from down 5% to up 11%"
Replies: 27
Views: 2647

Re: Boglehead Contest -- "Wall Street has no idea how stocks will end 2019, with forecasts ranging from down 5% to up 11

In fairness to the "Wall Street Experts", their average guess of 3027.69 is much closer the actual current S&P (2976.00) than is the average Bogleheads guess of 2613.71. So, year-to-date it appears the Wall Street Experts knew more than we did at the beginning of the year. IMHO this board is has so...
by FIREchief
Fri Sep 06, 2019 2:25 pm
Forum: Investing - Theory, News & General
Topic: "The Callan Periodic Table of Investment Returns"
Replies: 33
Views: 3448

Re: "The Callan Periodic Table of Investment Returns"

I like that chart. When I look at it (today), it reinforces my decision to go 100% US TMI for equities. They are rarely the top or bottom, but typically middle of the road. That suits my needs just fine for the long term. When I first looked at it, it was presented as a case to own everything, becau...
by FIREchief
Thu Sep 05, 2019 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Cookie cutter trust under will - good enough?
Replies: 5
Views: 596

Re: Cookie cutter trust under will - good enough?

This is an excellent question. In addition to identifying the beneficiaries, I can think of at least six important points to address in the Will with respect to trusts for your kids: a) Who will serve as trustee (and successor trustee)? b) Will the trust be drafted so that it will qualify as a benef...
by FIREchief
Wed Sep 04, 2019 2:03 pm
Forum: Investing - Theory, News & General
Topic: Very bad day
Replies: 39
Views: 5919

Re: Very bad day

If you have money on the sideline, any day that the market goes up is a bad day. If it goes up a lot, it's a really bad day.
by FIREchief
Tue Sep 03, 2019 1:30 pm
Forum: Investing - Theory, News & General
Topic: Selling Bond in Fidelity
Replies: 3
Views: 349

Re: Selling Bond in Fidelity

Cpadave wrote:
Tue Sep 03, 2019 9:46 am
I can see the bid/ask for the bond and the depth of book (total number of bid/offers). I put order to sell for a limit for the day.
What did the min quantities in the book reflect? What was the highest bid price for a min quantity of one? Was that higher than your limit order?
by FIREchief
Mon Sep 02, 2019 5:59 pm
Forum: Personal Consumer Issues
Topic: semi-DIY solar panels
Replies: 39
Views: 3048

Re: semi-DIY solar panels

I think residential solar is generally a bad idea, and having a couple of "newbies" use your house as a guinea pig is just plain awful. Are they planning an installation on the roof? That can suddenly turn one of a homeowner's biggest challenges into a nightmare.
by FIREchief
Mon Sep 02, 2019 2:42 pm
Forum: Investing - Theory, News & General
Topic: Portfolio Strategy
Replies: 28
Views: 3076

Re: Portfolio Strategy

As your portfolio gets larger, you will need less life insurance for example but you will an umbrella policy to insure against lawsuits. I think a person with a steady/high income has just as much need for umbrella insurance regardless of portfolio size. But, that's another thread.... :happy
by FIREchief
Mon Sep 02, 2019 2:41 pm
Forum: Investing - Theory, News & General
Topic: Portfolio Strategy
Replies: 28
Views: 3076

Re: Rick's New Book

I’ve recently changed the title. It was The Education of an Index Investor and is now Your Fair Share: A Guide to Successful Index Investing. Jack Bogle was fond of saying that index funds guarantee "your fair share" of the market's return. I’ll credit Jack for the title in the forward. Although I ...
by FIREchief
Mon Sep 02, 2019 2:39 pm
Forum: Investing - Theory, News & General
Topic: Portfolio Strategy
Replies: 28
Views: 3076

Re: Portfolio Strategy

Thanks for sharing Rick. I look forward to hearing more about your book. Distribution strategy is more complicated because now you’re dealing with maximizing Social Security benefits, minimizing Medicare Part D payments, gaming early distributions from qualified tax-deferred retirement accounts so y...
by FIREchief
Mon Sep 02, 2019 1:35 pm
Forum: Investing - Theory, News & General
Topic: There And Back Again: My 180 Back To Simplicity
Replies: 15
Views: 3874

Re: There And Back Again: My 180 Back To Simplicity

I don't think this guy really understands "simple." Also, when a 34 year old thinks that they have "safe" human capital and never want to retire, they may just not have lived long enough. For “value”, to maximize returns you’re probably better off owning the very cheapest sliver of the universe on a...
by FIREchief
Fri Aug 30, 2019 3:16 pm
Forum: Investing - Theory, News & General
Topic: Japan and PE Ratio
Replies: 45
Views: 3360

Re: Japan and PE Ratio

The 10 year 'lookback' of CAPE doesn't make sense to me if, as Shiller did, all ten years are equally weighted. It would make more sense to me to weight more recent years more heavily. Just curious, why would it make sense to weight more recent years more heavily? Isn't the whole point of the CAPE ...
by FIREchief
Fri Aug 30, 2019 3:11 pm
Forum: Investing - Theory, News & General
Topic: Japan and PE Ratio
Replies: 45
Views: 3360

Re: Japan and PE Ratio

CAPE is forecasting 3.4% real returns for the next 10 years, and average stock allocation is forecasting 3.7%. I believe that current stock allocations are skewed to the downside by people still suffering PTSD from the great recession, as well as the nervousness that accompanies a strong sustained ...
by FIREchief
Fri Aug 30, 2019 12:49 am
Forum: Personal Investments
Topic: Young people with good earnings and still want to work do 100 equities
Replies: 44
Views: 4498

Re: Young people with good earnings and still want to work do 100 equities

Prettyfrtnt wrote:
Thu Aug 29, 2019 11:00 pm
So what’s your approach? For the bad times?
Buy more on sale and hold until better times?? 8-)
by FIREchief
Thu Aug 29, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Trust beneficiary is “unbanked”
Replies: 28
Views: 1930

Re: Trust beneficiary is “unbanked”

So... what happens when I as the trustee, following terms of the trust, send a check in a five or six figure amount? How do they cash it? Will a bank allow her to open an account? Will creditors seize it? Will government care agencies claw the new resources back? What practical, although unlikely t...
by FIREchief
Thu Aug 29, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Trust beneficiary is “unbanked”
Replies: 28
Views: 1930

Re: Trust beneficiary is “unbanked”

So... what happens when I as the trustee, following terms of the trust, send a check in a five or six figure amount? How do they cash it? Will a bank allow her to open an account? Will creditors seize it? Will government care agencies claw the new resources back? What practical, although unlikely t...
by FIREchief
Thu Aug 29, 2019 5:12 pm
Forum: Investing - Theory, News & General
Topic: Japan and PE Ratio
Replies: 45
Views: 3360

Re: Japan and PE Ratio

Current S&P 500 P/E is around 22, and projected to fall below 20 by the end of the year. A lot of this discussion goes away if we talk about what is currently going on instead of looking 10 years into the rearview mirror. :annoyed ETA: it looks like the next two quarters to fall off the CAPE 10 had ...
by FIREchief
Thu Aug 29, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D Plan - Input Needed
Replies: 86
Views: 4360

Re: Medicare Part D Plan - Input Needed

I don't need an advisor to buy Vanguard funds and I don't need a broker to buy insurance. You don't seem to get the point that these are not equivalent. Home, auto, disability and term life insurance agents do not change the premiums you pay for policies. You don't know what you don't know. A good ...
by FIREchief
Thu Aug 29, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D Plan - Input Needed
Replies: 86
Views: 4360

Re: Medicare Part D Plan - Input Needed

Recently encountered this with cataract surgery drops, both the antibiotic and the steroid. In this situation the cost is higher than if you were not insured at all. You can then use a drug discount program like GoodRX to reduce the high tier cost by a decent %, but it will still be higher than any...
by FIREchief
Thu Aug 29, 2019 1:37 pm
Forum: Investing - Theory, News & General
Topic: Bond Investors Making A Killing
Replies: 85
Views: 8804

Re: Bond Investors Making A Killing

I only buy individual treasuries, and I hold them to maturity. Therefore, this is all meaningless to me. It's just a "feel good" thing that has no impact on my planning or actions. For those out there confused by bonds (we have another thread going on this right now), they might want to consider ado...
by FIREchief
Wed Aug 28, 2019 6:53 pm
Forum: Investing - Theory, News & General
Topic: Is medium/long term planning (>5 yrs) useless?
Replies: 20
Views: 1052

Re: Is medium/long term planning (>5 yrs) useless?

I'm a planner by nature. About 8 years ago, I created an IPS (investment policy statement) which outlined my long-term financial plans. DW has always been relatively uninterested in discussing retirement goals. What is the utility in planning beyond the 5/10 year time horizon, given the uncertainty...
by FIREchief
Wed Aug 28, 2019 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: What is your plan for the last few years of a long life?
Replies: 213
Views: 12490

Re: What is your plan for the last few years of a long life?

DH and I have had similar talks (plans?) - good in theory, not so sure about in practice. Plus, that inevitably will only work for one of us. We're only 50 - maybe a year out from retirement, but it's something we ponder quite a bit. We're not too concerned about outliving our money (pension/saving...
by FIREchief
Wed Aug 28, 2019 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D Plan - Input Needed
Replies: 86
Views: 4360

Re: Medicare Part D Plan - Input Needed

J G Bankerton wrote:
Wed Aug 28, 2019 1:56 pm
FBN2014 wrote:
Wed Aug 28, 2019 1:17 pm
I don't fully understand it all. :oops:
Insurance companies are like financial "advisors", they don't want you to understand. Just trust them. :wink:
Amen Brother!! :sharebeer
by FIREchief
Wed Aug 28, 2019 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Spendthrift Trustee; Bank&Trust or "professional fiduciary"
Replies: 23
Views: 1784

Re: Spendthrift Trustee; Bank&Trust or "professional fiduciary"

We had designated a well known bank and trust as successor trustee, but she suggested we put in a clause that states the law firm will designate a professional fiduciary as trustee to administer the trust. This seemed like a more personable solution, but now I worry about the vast power this unknow...
by FIREchief
Wed Aug 28, 2019 1:15 pm
Forum: Investing - Theory, News & General
Topic: I don't like Bonds because I
Replies: 31
Views: 2579

Re: I don't like Bonds because I

90% (with a correct guess on one). I guessed wrong on the $1000 purchase units. I only buy TIPS, and those are in $1000 increments through a broker. That said, as long as somebody understands the relationship between market interest rates and bond values (including some understanding of duration), t...
by FIREchief
Wed Aug 28, 2019 12:44 pm
Forum: Investing - Theory, News & General
Topic: Please explain Generation-Skipping Tax to me (U.S.)
Replies: 4
Views: 692

Re: Please explain Generation-Skipping Tax to me (U.S.)

It is confusing and best explained with examples. Scenario 1: I die with one kid and a $50 million estate. Estate tax is 40% of ($50 million minus the roughly $10 million exemption), or $16 million. So my kid gets $34 million. Assume all income is distributed, no principal growth and he dies with a...
by FIREchief
Tue Aug 27, 2019 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Part D Plan - Input Needed
Replies: 86
Views: 4360

Re: Medicare Part D Plan - Input Needed

The first time we walked in to pick up meds and show them our drug plan card, they said they didn't need it since they already knew what insurance we had. I said "No, we are no longer on the employer's insurance. What do you show for us?" They read off the current Medicare drug plan we had just cha...
by FIREchief
Tue Aug 27, 2019 6:37 pm
Forum: Investing - Theory, News & General
Topic: [Larry Swedroe: Small Value Stocks are Cheap, Factor Investing Works]
Replies: 673
Views: 25248

Re: [Larry Swedroe: Small Value Stocks are Cheap, Factor Investing Works]

Do you lend more credence to the small premium than the value premium? I'm not sure why since the small premium has been less historically 'reliable' than the value premium. For instance, the small premium was zero or negative from 1946-1977. Do you mean that the premium was zero or negative for ea...
by FIREchief
Tue Aug 27, 2019 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need a Will? A Trust? Nothing?
Replies: 22
Views: 1453

Re: Do I need a Will? A Trust? Nothing?

Turns out he took the breakfront as his fee for a person who died intestate. There was nothing the family could do. Yes, there was but, unfortunately they didn't do it. Do you really think estate administrators can appropriate estate assets for themselves with no consequences? Gill This is really f...