Search found 487 matches

by Luckywon
Sun Jul 21, 2019 4:43 pm
Forum: Personal Consumer Issues
Topic: Car Leasing Question
Replies: 13
Views: 683

Re: Car Leasing Question

Here is one recent one, though I am sure they are others that are as or more comprehensive.

viewtopic.php?t=284182
by Luckywon
Sun Jul 21, 2019 4:24 pm
Forum: Personal Consumer Issues
Topic: Car Leasing Question
Replies: 13
Views: 683

Re: Car Leasing Question

This has been extensively discussed multiple times on this forum. What I would say in brief is that the often stated advice that it's always better to buy than lease is wrong and indicates the person saying it knows little about leasing. There are factors for and against it and which is better for y...
by Luckywon
Sun Jul 21, 2019 1:29 am
Forum: Personal Finance (Not Investing)
Topic: Seeking a successor corporate trustee who will perform administrative duties.
Replies: 18
Views: 1091

Re: Seeking a successor corporate trustee who will perform administrative duties.

However, what happens if that survivor becomes mentally incapacitated? Especially when there are no close younger relatives to step in. Are there trust services that will be responsible for paying bills and making sure the survivor is not totally ripped off? 1210 Certainly. Name a corporate trustee...
by Luckywon
Fri Jul 19, 2019 1:37 am
Forum: Personal Investments
Topic: Etrade denies promotion on $1 mil new account
Replies: 61
Views: 6564

Re: Etrade denies promotion on $1 mil new account

Move the funds to Ameritrade. I believe they have a $2,500 promotion going now. After the required holding period, I believe one year, transfer the funds to ETrade. This time make sure you do it in the manner prescribed to get your $3,000 bonus.
by Luckywon
Wed Jul 17, 2019 8:50 pm
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 16
Views: 1422

Re: Portfolio Review Request

Question: Why are you doing mega backdoor Roth? The MBR is advantageous in very specific situations. At the 50 % marginal tax bracket currently, your situation is unlikely to be one of them. I would suggest maximizing your pretax 401k contributions and not doing the MBR. I'm maxed on the pretax 401...
by Luckywon
Wed Jul 17, 2019 11:45 am
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 16
Views: 1422

Re: Portfolio Review Request

I live in California as well and am similar age and projected expenses. So my thoughts and calculations are in many ways applicable to your situation. Regarding Roth conversions: I have spent quite a bit of time modeling how Roth conversions may work and have found that for me (and you) they will un...
by Luckywon
Wed Jul 17, 2019 12:28 am
Forum: Personal Investments
Topic: Portfolio Review Request
Replies: 16
Views: 1422

Re: Portfolio Review Request

Question for clarification: you are making close to $900k in new annual contributions, including $500k in taxable?
And you don't mention what your expenses are. You cannot get an answer to your question about when you could retire without that information.
by Luckywon
Wed Jul 17, 2019 12:23 am
Forum: Personal Investments
Topic: Edward Jones trap
Replies: 91
Views: 14076

Re: Edward Jones trap

I would try, perhaps along the lines of what you said you plan-sending them a book for XMAS. I learned about index fund investing via unsolicited advice-also recommendation of a book. Forever grateful to the person who took an interest in helping me.
by Luckywon
Tue Jul 16, 2019 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Do you care about your home appreciating?
Replies: 91
Views: 4729

Re: Do you care about your home appreciating?

Yes I like that my home has appreciated. -My heirs may sell it (and will have received a nice step up in cost basis). -If I'm incapacitated and have to live in a facility of some sort, my home's equity may be used to pay for the costs. -If financial calamity occurs, it may be sold or a reverse mortg...
by Luckywon
Mon Jul 15, 2019 10:28 am
Forum: Personal Investments
Topic: Phase out EF [Emergency Fund]?
Replies: 111
Views: 4716

Re: Phase out EF [Emergency Fund]?

My portfolio is 65:35. i have no EF. I do keep about 2 months expenses in checking, as operating funds, not emergency funds. I never liked the idea of keeping an EF. If a disaster occurs which includes a drop in equities and loss of my income, I would expect to sell first bonds, then equities to cov...
by Luckywon
Mon Jul 15, 2019 1:41 am
Forum: Personal Finance (Not Investing)
Topic: If there are no close or trusted relatives close by, who will care for you, pay your bills, etc.
Replies: 140
Views: 10547

Re: If there are no close or trusted relatives close by, who will care for you, pay your bills, etc.

As I ponder these issues, I've been seeking out books at the library on the subject of solo aging. I ended up buying this one: "Essential Retirement Planning for Solo Agers: A Retirement and Aging Roadmap for Single and Childless Adults." One point the author makes right up front is that singles ar...
by Luckywon
Sun Jul 14, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with bank or other corporate Trust Department?
Replies: 45
Views: 3171

Re: Experience with bank or other corporate Trust Department?

Still, the POA/TP has ultimate power. Have you figured out who that would be? Is it a relative, or did you find someone you can hire to do this? Sorry, I don't have a suggestion on how to do this well without close family. Yes, the POA/TP has ultimate power, but there is at least some check/balance...
by Luckywon
Sun Jul 14, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with bank or other corporate Trust Department?
Replies: 45
Views: 3171

Re: Experience with bank or other corporate Trust Department?

Never had experience with Schwab as trustee but plenty of experience with many other trust institutions. In general a corporate trustee offers what no individual can including perpetual existence, collective experience and judgment, financial responsibility, accessibility because doesn’t die or go ...
by Luckywon
Sun Jul 14, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with bank or other corporate Trust Department?
Replies: 45
Views: 3171

Re: Experience with bank or other corporate Trust Department?

Never had experience with Schwab as trustee but plenty of experience with many other trust institutions. In general a corporate trustee offers what no individual can including perpetual existence, collective experience and judgment, financial responsibility, accessibility because doesn’t die or go ...
by Luckywon
Sun Jul 14, 2019 11:28 am
Forum: Personal Finance (Not Investing)
Topic: If there are no close or trusted relatives close by, who will care for you, pay your bills, etc.
Replies: 140
Views: 10547

Re: If there are no close or trusted relatives close by, who will care for you, pay your bills, etc.

I did not find any bank that I thought would be useful for guardian-type decisions. Sounds like could be an opening for some entrepeneur to start such a service. How many people are out there like that with this need? In California, this service is licensed/regulated by the Department of Consumer A...
by Luckywon
Sat Jul 13, 2019 1:44 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 1317
Views: 125021

Re: U.S. stocks continue to soar!

stocknoob4111 wrote:
Sat Jul 13, 2019 1:37 am
the rise in the S&P 500 was not enough to offset the carnage that is being caused by International.
Carnage indeed, I feel you. :oops: :annoyed
by Luckywon
Tue Jul 09, 2019 2:03 pm
Forum: Personal Investments
Topic: 6M retirement asset allocation and tax advice
Replies: 21
Views: 3330

Re: 6M retirement asset allocation and tax advice

Thank you all for your insights. cacophony: Great article. Thank you! just1question: Tax exempt funds preserve tax space in post-retirement planning. delamer: I like your 5% rule of thumb. But, until retirement, I cant shift these assets without incuring maximal capital gains. Luckywon: The $150K e...
by Luckywon
Sun Jul 07, 2019 1:19 pm
Forum: Personal Investments
Topic: 6M retirement asset allocation and tax advice
Replies: 21
Views: 3330

Re: 6M retirement asset allocation and tax advice

Asset allocation: I think 65/35 is a good AA for your situation. Regarding taxes: You have at a good runway for Roth conversions of your 401(k) funds before RMD's begin at 70 1/2. (Or maybe even later depending on legislation pending this year.) You should spend some time examining to what extent th...
by Luckywon
Sun Jul 07, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Prenuptial for future son-in-law - RESOLVED
Replies: 46
Views: 2389

Re: Prenuptial for future son-in-law

Advice taken and will not proceed any further with the prenup idea. That is why I asked here first for advice before initiating anything. Thank you Bogleheads. So glad to see you have decided not to pursue this. I was sure your family was headed for a lifetime of estrangement! Best wishes to you an...
by Luckywon
Sun Jul 07, 2019 10:05 am
Forum: Investing - Theory, News & General
Topic: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE
Replies: 38
Views: 3081

Re: POST YOUR QUESTIONS FOR THE EXPERTS PANEL Q&A HERE

What is each panelist's guess for average annual real return on domestic equities over the next 10 years?
by Luckywon
Wed Jul 03, 2019 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Hire a driver?
Replies: 63
Views: 3388

Re: Hire a driver?

I can also deduct the cost of the driver as a business expense so bringing the cost down to ~$65/round trip And what does it cost to drive yourself? Maybe $25 for gas and extra wear and tear. So the driver costs you an extra $40. Agreed. I don't think it will be long before this driver realizes he ...
by Luckywon
Wed Jul 03, 2019 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Hire a driver?
Replies: 63
Views: 3388

Re: Hire a driver?

I can also deduct the cost of the driver as a business expense so bringing the cost down to ~$65/round trip And what does it cost to drive yourself? Maybe $25 for gas and extra wear and tear. So the driver costs you an extra $40. Agreed. I don't think it will be long before this driver realizes he ...
by Luckywon
Wed Jul 03, 2019 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Hire a driver?
Replies: 63
Views: 3388

Re: Hire a driver?

I would do it. Honestly, I think it's worth a bit more, after factoring in the money saved on gas and vehicle depreciation.
by Luckywon
Sun Jun 30, 2019 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Intentional Divorce to avoid Marriage Penalties in tax code?
Replies: 54
Views: 4868

Re: Intentional Divorce to avoid Marriage Penalties in tax code?

Not legally married could complicate things re medical, elsewhere where simply being the spouse expedites things. Usually an alternate means for same things exists, re HCPOA, etc, but not always an instant slam dunk, and being married is a single shortcut. Here's one area of difference -- in some s...
by Luckywon
Sun Jun 30, 2019 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 349
Views: 52628

Re: Does anyone here with net worths north of $1 mil use financial advisors?

When we saw our "FA" in public and he couldn't call my name, that's when I started the process of becoming a Boglehead. That was many years ago and it is one of the absolute best things I have ever done. No one will care more about your money than you. Many FA do care more. It's just they only care...
by Luckywon
Sun Jun 30, 2019 7:30 pm
Forum: Investing - Theory, News & General
Topic: A Simple Bogleheads Retirement Using Variable Percentage Withdrawals (VPW Forward Test)
Replies: 86
Views: 9392

Re: A Simple Bogleheads Retirement Using Variable Percentage Withdrawals (VPW Forward Test)

Thanks longinvest for setting up this interesting simulation. What's the best way to follow this? Will you update with a new post every month to show the new silo values? Or update the original post?
by Luckywon
Sun Jun 30, 2019 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Intentional Divorce to avoid Marriage Penalties in tax code?
Replies: 54
Views: 4868

Re: Intentional Divorce to avoid Marriage Penalties in tax code?

What would be the "net" annual $$$ difference, between married and unmarried? j I haven’t run the exact numbers yet, but they are not insignificant and they are going up every year as our wages and taxable investment account dividends go up. You haven't run the exact numbers yet? I think before you...
by Luckywon
Sat Jun 29, 2019 10:37 am
Forum: Personal Investments
Topic: Expected returns for 80/20 stock bond for next 10 years.
Replies: 184
Views: 17975

Re: Expected returns for 80/20 stock bond for next 10 years.

FWIW, this thread started almost a year ago (July 2, 2018). Vanguard's LifeStrategy Growth Fund (essentially an 80-20 stock-bond split) returned 0.37% between May 31, 2018 and May 31, 2019, per Vanguard. The one year return of this fund is now 6.14 % (June 30, 2018 through Jun 30, 2019). What a dif...
by Luckywon
Fri Jun 28, 2019 12:49 am
Forum: Personal Finance (Not Investing)
Topic: Tax mistake
Replies: 23
Views: 2839

Re: Tax mistake

Sounds to me like it may be worth your hiring an accountant to prepare your taxes going forward. Your time is valuable, and would likely save a lot of hassle.
by Luckywon
Fri Jun 28, 2019 12:25 am
Forum: Personal Consumer Issues
Topic: citi discontinuing citi price rewind
Replies: 65
Views: 5105

Re: citi discontinuing citi price rewind

Wow, did not realize CitiCard was discontinuing this benefit, if they mailed me anything about it I musta throwed it away w/out reading :oops: Been known to do that more than once :( :( What I liked about it - Didn't have to do a damn thing - no heavy lifting, no effort at all, to initiate a claim....
by Luckywon
Wed Jun 26, 2019 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Anybody else unable to afford a home/have six figure income?
Replies: 60
Views: 7182

Re: Anybody else unable to afford a home/have six figure income?

ohai wrote:
Wed Jun 26, 2019 4:05 pm
OP, my (household) income last year was in seven figures and I cannot afford a decent home in NYC.
Very encouraging words for OP. :) Only on Bogleheads!! :sharebeer
by Luckywon
Wed Jun 26, 2019 10:18 am
Forum: Personal Investments
Topic: Financial planning now that retired
Replies: 49
Views: 9635

Re: Financial planning now that retired

My advice? Liquidate and transfer His IRA #1, His IRA #2, and Her IRA from Edward Jones to Fidelity. Combine his two IRAs into one. OP, I'm surprised at the restraint with which you have been kindly advised to move your IRA's from Edward Jones to Fidelity. Ending your relationship with EJ is the si...
by Luckywon
Wed Jun 26, 2019 1:17 am
Forum: Personal Investments
Topic: Could I be financially independent in 4-5 years?
Replies: 28
Views: 5141

Re: Could I be financially independent in 4-5 years?

Hmm, specific numbers ok. What if I share household income/expenses (including girlfriend I'm in serious relationship with)? Collective household expenses of $35k (though this will decrease to closer to $25k as we optimize our living expenses together and with condo she purchased years ago being pa...
by Luckywon
Tue Jun 25, 2019 9:21 pm
Forum: Personal Investments
Topic: Financial planning now that retired
Replies: 49
Views: 9635

Re: Financial planning now that retired

My advice? Liquidate and transfer His IRA #1, His IRA #2, and Her IRA from Edward Jones to Fidelity. Combine his two IRAs into one. OP, I'm surprised at the restraint with which you have been kindly advised to move your IRA's from Edward Jones to Fidelity. Ending your relationship with EJ is the si...
by Luckywon
Tue Jun 25, 2019 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Lease vs Buying a Car
Replies: 84
Views: 5748

Re: Lease vs Buying a Car

Every time people make blanket statements like "lease is always more expensive" you know they don't know what they are talking about. Sometimes buying is better, sometimes leasing is better, it all depends on the circumstances and on the deal you can get. I agree 100 %, I'm baffled by the almost re...
by Luckywon
Tue Jun 25, 2019 5:16 pm
Forum: Personal Investments
Topic: Could I be financially independent in 4-5 years?
Replies: 28
Views: 5141

Re: Could I be financially independent in 4-5 years?

OP you haven't provided enough information to receive any meaningful feedback, with all due respect to those who have tried anyway.
by Luckywon
Tue Jun 25, 2019 9:23 am
Forum: Personal Investments
Topic: Retired: Don't want to outlive my funds
Replies: 62
Views: 6607

Re: Retired: Don't want to outlive my funds

I would strongly consider purchasing an annuity. You can do this with your 401k funds. It is not what I would normally favor, but it will certainly provide an adequate income stream for your stated needs and will be better than CD's, given that you have no legacy concerns.
by Luckywon
Sun Jun 23, 2019 12:26 pm
Forum: Personal Consumer Issues
Topic: How do you approach tipping at carry-out restaurants
Replies: 111
Views: 7528

Re: How do you approach tipping at carry-out restaurants

There are many many other hard working individuals in our society that work as hard and often much much harder for relatively low wages than those who choose to work in the food industry. I tend to tip those individuals much more often than I tip the food industry and there is no expectation or soc...
by Luckywon
Sun Jun 23, 2019 11:32 am
Forum: Personal Investments
Topic: Who should I open my taxable account with?
Replies: 25
Views: 2146

Re: Who should I open my taxable account with?

I’m all over the place with accounts and would like to consolidate as much as possible. I have both of my kids ESAs with Schwab and my work 401k through Fidelity Net Benefits. My IRA is with Citibank. I was going to go all Schwab except for my 401k until I stumbled on these 0 fee market index funds...
by Luckywon
Sun Jun 23, 2019 11:16 am
Forum: Personal Investments
Topic: Portfolio Review Needed for Near Retiree.
Replies: 8
Views: 1422

Re: Portfolio Review Needed for Near Retiree.

Have meeting w advisor this week Agree with others above that firing your advisor is the best move you can make. Why meet with him to do this? In that meeting he will reach into his bag of tricks (fear, guilt) to try to persuade you to change your mind. Don't allow yourself to be subjected to that....
by Luckywon
Sat Jun 22, 2019 7:43 pm
Forum: Personal Consumer Issues
Topic: How do you approach tipping at carry-out restaurants
Replies: 111
Views: 7528

Re: How do you approach tipping at carry-out restaurants

In other countries, restaurants pay their employees a proper wage. Servers in many states get a base wage of $2.13 an hour, though some (not all) do end up getting minimum wage if their tips do not add up to the equivalent amount: https://www.dol.gov/whd/state/tipped.htm The only way to change this...
by Luckywon
Thu Jun 20, 2019 1:25 am
Forum: Personal Investments
Topic: Confused with the markets
Replies: 47
Views: 4329

Re: Confused with the markets

Dear galactica1971,

Why didn't you just lump sum the money into VBINX?? I'd be so much better off!!

from galactica1986.
by Luckywon
Thu Jun 20, 2019 1:14 am
Forum: Personal Investments
Topic: Confused with the markets
Replies: 47
Views: 4329

Re: Confused with the markets

Honestly, I feel pretty certain that whatever course your sophisticated analysis leads you to take at this time, 15 years from now you will just wish you had put the whole thing in a two or three fund portfolio, lump sum, and forgot about it.
by Luckywon
Wed Jun 12, 2019 6:00 pm
Forum: Investing - Theory, News & General
Topic: What financial information do you wish was more commonly known?
Replies: 50
Views: 8650

Re: What financial information do you wish was more commonly known?

Investing has nothing to do with picking stocks or having insights about the future.
by Luckywon
Mon Jun 10, 2019 5:43 pm
Forum: Personal Investments
Topic: Work hard, saved hard, retired....now what :)
Replies: 22
Views: 5027

Re: Work hard, saved hard, retired....now what :)

Planned maximum yearly spend: $190K ($120-130 more typical based on post-retirement tracking). Other than SS, no other pension plans or income streams. I will be looking at ROTH conversions as you suggested, and just hope the ROTH details don't get changed too much over the next few years. NukeWork...
by Luckywon
Sun Jun 09, 2019 12:58 pm
Forum: Investing - Theory, News & General
Topic: Having lunch with a retiree
Replies: 16
Views: 2483

Re: Having lunch with a retiree

What's good here? :) :D
by Luckywon
Thu Jun 06, 2019 12:07 pm
Forum: Investing - Theory, News & General
Topic: Thank you, Taylor Larimore!
Replies: 49
Views: 6117

Re: Thank you, Taylor Larimore!

Thank you Taylor Larimore for all your contributions!!

I always enjoy and look forward to your posts here. I have learned a lot from them.
by Luckywon
Thu Jun 06, 2019 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Pine Tree Incident
Replies: 31
Views: 3598

Re: Pine Tree Incident

#unscrupulous
by Luckywon
Thu Jun 06, 2019 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Pine Tree Incident
Replies: 31
Views: 3598

Re: Pine Tree Incident

Orion443 wrote:
Thu Jun 06, 2019 10:54 am

The restoration company wants to make an exclusive bid on all of the repair work, but will only do so if we don’t get other estimates.
You are asking whether it might be a good idea to do business with a company that wants to hold you hostage? :confused