Search found 1508 matches

by Seasonal
Thu May 28, 2020 7:12 am
Forum: Personal Investments
Topic: Betterment liquidated my investments without my authorization
Replies: 57
Views: 3031

Re: Betterment liquidated my investments without my authorization

Which specific part of the FINRA rules may have been violated? 11870(b)(1), 11870(c)(1), possibly 11870(k)(2) if OP owed any fees to Betterment, 11870(m)(1) and (m)(2). Take a look as well at this interpretive letter "Uniform Practice Code Rule 11870 requires a member to adopt specific measures to ...
by Seasonal
Thu May 28, 2020 5:31 am
Forum: Personal Investments
Topic: Betterment liquidated my investments without my authorization
Replies: 57
Views: 3031

Re: Betterment liquidated my investments without my authorization

From the information posted by OP, not withstanding any attempt to disclaim liability, Betterment may have violated FINRA rules concerning account transfers (https://www.finra.org/rules-guidance/rulebooks/finra-rules/11870, see also https://www.sec.gov/oiea/investor-alerts-bulletins/ib_transferacco...
by Seasonal
Tue May 26, 2020 9:34 am
Forum: Investing - Theory, News & General
Topic: Making the most of the Shiller-CAPE ratio?
Replies: 13
Views: 631

Re: Making the most of the Shiller-CAPE ratio?

According to a Vanguard research paper, CAPE (and p/e) have done better than other valuation metrics. However, they haven't done a very good job. Actual results can differ very widely from predictions, as HomerJ notes above. Other studies have come to similar conclusions. "We confirm that valuation ...
by Seasonal
Tue May 26, 2020 7:21 am
Forum: Personal Consumer Issues
Topic: Coronavirus (Consumer Issues) How you are preparing?
Replies: 1590
Views: 128915

Re: Coronavirus (Consumer Issues) How you are preparing?

Just want point out that you might be routed through a covid-19 hotspot if you redeem miles for a flight. Might? The US is the leading covid-19 hotspot worldwide. For international travel, all arrivals are routed through one of 13 major airports (https://www.dhs.gov/coronavirus/protecting-air-trave...
by Seasonal
Sat May 23, 2020 3:17 pm
Forum: Investing - Theory, News & General
Topic: El-Erian comments on the crisis
Replies: 63
Views: 6572

Re: El-Erian comments on the crisis

There are some reasons to be more optimistic than what he’s espousing. Today is the first day my businesses have been open for customers (inside) and it’s been very busy- surprisingly so. It may mean nothing, but the idea there won’t be a powerful recovery doesn’t jibe with what I’m experiencing in...
by Seasonal
Sat May 23, 2020 2:48 pm
Forum: Personal Consumer Issues
Topic: Hertz is declaring bankruptcy
Replies: 71
Views: 6918

Re: Hertz is declaring bankruptcy

Wow! I did not see this. We have to get this economy up and running or there will not be anything left to open! Anything travel related or involving many people close together has major problems. Just figure a way for customers and employees to feel safe that they won't get sick or die and things w...
by Seasonal
Sat May 23, 2020 9:27 am
Forum: Personal Consumer Issues
Topic: Hertz is declaring bankruptcy
Replies: 71
Views: 6918

Re: Hertz is declaring bankruptcy

Cheez-It Guy wrote:
Sat May 23, 2020 9:03 am
Oh no! My Gold Plus Rewards!
Travel related companies tend to continue to honor points when they go through reorganization in bankruptcy.
by Seasonal
Fri May 22, 2020 12:41 pm
Forum: Investing - Theory, News & General
Topic: The Taleb Asness 'debate' in the light of Bogleheads philosophy
Replies: 146
Views: 6984

Re: The Taleb Asness 'debate' in the light of Bogleheads philosphy

Let's back away from the math and look at investing strategies. I'll admit I don't know what a Levy-Stable Distribution is. Core boglehead - Invest in the total market. No one can beat the market on a risk adjusted basis. Fama - Essentially the same as the boglehead approach. No one can beat the ma...
by Seasonal
Thu May 21, 2020 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a good reason to implement trust?
Replies: 3
Views: 420

Re: Is there a good reason to implement trust?

Does the husband's will provide a clause allowing the trust not to be set up (if for example not needed because of assets vs current estate tax limits?) If it doesn't provide an out... then I think you need to set it up and send the assets there... Do you believe bsteiner was incorrect when he wrot...
by Seasonal
Thu May 21, 2020 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Is there a good reason to implement trust?
Replies: 3
Views: 420

Is there a good reason to implement trust?

Husband's will provides that all of his assets be placed in trust for the benefit of his wife, with the trust to go to his children and grandchildren on her death (her will would implement this). Trustees have sole discretion to distribute income and principal (subject to provisions regarding qualif...
by Seasonal
Tue May 19, 2020 5:53 pm
Forum: Investing - Theory, News & General
Topic: Social Security is an asset....yet again
Replies: 129
Views: 5697

Re: Social Security is an asset....yet again

Treating SS like an asset or as an income stream is really the same thing. For example, we plan to receive a combined $50K in SS at age 70 (this is after a 23% reduction). If I treat it like an income stream, and I need $120K to live on, then my portfolio has to provide me with a net of $70K of inc...
by Seasonal
Tue May 19, 2020 9:46 am
Forum: Investing - Theory, News & General
Topic: Social Security is an asset....yet again
Replies: 129
Views: 5697

Re: Social Security is an asset....yet again

Treating SS like an asset or as an income stream is really the same thing. For example, we plan to receive a combined $50K in SS at age 70 (this is after a 23% reduction). If I treat it like an income stream, and I need $120K to live on, then my portfolio has to provide me with a net of $70K of inc...
by Seasonal
Tue May 19, 2020 6:56 am
Forum: Investing - Theory, News & General
Topic: "The economy is in free fall. So why isn't the stock market?"
Replies: 153
Views: 15419

Re: "The economy is in free fall. So why isn't the stock market?"

1. Fed propping up the markets and now going to buy junk bonds. 2. Lower bond yields are forcing people into stocks. 3. Low interest rates 4. Debt fueled recovery from 08-09. [5]We have a spending problem but look at the velocity of money in our economy it’s slowing down and is one of the signals t...
by Seasonal
Mon May 18, 2020 3:24 pm
Forum: Investing - Theory, News & General
Topic: Social Security is an asset....yet again
Replies: 129
Views: 5697

Re: Social Security is an asset....yet again

Maybe I didn't notice but did the author include the 20%+ reduction in benefits that will occur in the early 2030s? Is this the currently projected shortfall or something specific that is already slated to change?? Just started looking a bit further out at retirement issues so this is of interest.....
by Seasonal
Sun May 17, 2020 5:43 am
Forum: Investing - Theory, News & General
Topic: Big changes to S&P 500?
Replies: 24
Views: 2458

Big changes to S&P 500?

dozens of companies are at risk of deletion, at least theoretically, after shares plunged in March. While guided by rules-based standards, index compilers must also grapple with the same judgment as everyone else in assessing the market right now: how much of the Covid impact will turn out to be pe...
by Seasonal
Sun May 17, 2020 4:17 am
Forum: Investing - Theory, News & General
Topic: "The economy is in free fall. So why isn't the stock market?"
Replies: 153
Views: 15419

Re: What does Market know, that we did not know?

There's no good way of knowing what the market expects and what are the bases for its expectations. Even back then , it was reasonably obvious this wasn't going to be as bad as everyone thought. Why? Well because the stats health care officers/officials were constantly hocking were worst case, so th...
by Seasonal
Fri May 15, 2020 4:46 pm
Forum: Non-US Investing
Topic: The Mighty USD
Replies: 47
Views: 3354

Re: The Mighty USD

Yes. It is virtually guaranteed to be stronger or weaker over the next 10 years. Very possibly periods of strength intersperse with periods of weakness. Alternatively periods of weakness might be interspersed with periods of strength. Regarding currencies as strong or weak is not the most useful wa...
by Seasonal
Fri May 15, 2020 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8898

Re: Should we create a testamentary trust for $6M estate?

Not sure if it's the lack of access to principal (if own trustee) Are you suggesting that a beneficiary serving as their own sole trustee does not have any access to trust principle? This would not be correct for a properly drafted trust. If you think this way, you almost certainly didn't bother to...
by Seasonal
Fri May 15, 2020 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Odd entry in credit report
Replies: 3
Views: 385

Re: Odd entry in credit report

I don't remember seeing this before, but it's possible my memory is faulty. Experian does not have anything similar.

I'm quite sure I haven't disputed information every month for two years.
by Seasonal
Fri May 15, 2020 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Odd entry in credit report
Replies: 3
Views: 385

Odd entry in credit report

I just looked at my Equifax credit report. For one credit card, there are entries every month for the past two years: "Consumer disputes this account information."

I'm not actually disputing anything. Any idea where this might have come from? Should I be concerned?
by Seasonal
Fri May 15, 2020 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 1888

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

For simplicity, since it's easier to give someone these powers over an entire trust all at once, most of our clients give their children these powers over their entire trust at one time. However, it's possible to do it in stages by dividing the trust into two trusts, giving them these powers over o...
by Seasonal
Thu May 14, 2020 10:28 am
Forum: Investing - Theory, News & General
Topic: Two Percent Inflation - US
Replies: 20
Views: 1911

Re: a question

i recently watched a video which claimed by "printing money" the gov't does not lose purchasing power, the loss of purchasing power is passed on to the citizens is this true? it makes sense to me but i'm not an economist so i don't really know for example if the money supply increases by 5% the gov...
by Seasonal
Thu May 14, 2020 7:20 am
Forum: Investing - Theory, News & General
Topic: Two Percent Inflation - US
Replies: 20
Views: 1911

Re: Two Percent Inflation - US

whodidntante wrote:
Wed May 13, 2020 9:21 pm
The goal is to make 25 trillion seem like not a lot of money over time so our children don't roll us off a cliff.
Why would inheriting 25 trillion in treasury bonds cause children to roll us off a cliff?
by Seasonal
Wed May 13, 2020 6:15 pm
Forum: Personal Consumer Issues
Topic: What Blood Pressure monitor?
Replies: 13
Views: 818

Re: What Blood Pressure monitor?

Measurements in a doctor's office are not necessarily accurate. Readings taken a short time apart, either by the same or a different person, can vary by non-trivial amounts. Many practitioners don't follow standard protocols (feet on floor, arm supported, etc.). Many people suffer from "white coat s...
by Seasonal
Wed May 13, 2020 12:14 pm
Forum: Personal Consumer Issues
Topic: Internet Device for Elder Parent
Replies: 24
Views: 1636

Re: Internet Device for Elder Parent

The takeaway is for anyone wanting to give an elderly relative an electronic device, make sure you record everything security related with it :shock: What amazes me is that an elderly relative who has trouble finding and launching an app icon is somehow able to add or change a PIN. Definitely recor...
by Seasonal
Wed May 13, 2020 9:27 am
Forum: Investing - Theory, News & General
Topic: Why GAAP and non GAAP?
Replies: 24
Views: 1364

Re: Why GAAP and non GAAP?

Put another way, GAAP is required. Non GAAP is used to give additional useful information or to make the company look better. They can use whatever they want in nonGAAP, subject to not being false or misleading and to reconciling to GAAP.
by Seasonal
Wed May 13, 2020 8:07 am
Forum: Personal Consumer Issues
Topic: Internet Device for Elder Parent
Replies: 24
Views: 1636

Re: Internet Device for Elder Parent

I am trying to be supportive while being skeptical. My father has routinely bought expensive bits of stuff and abandoned these projects quickly. I would be skeptical as well. I gave my father in law an iPad Mini to use for online books, etc. He never used it. When I eventually got it back he had fo...
by Seasonal
Tue May 12, 2020 12:54 pm
Forum: Personal Investments
Topic: Sell individual stock to buy mutual fund - mechanics
Replies: 2
Views: 172

Re: Sell individual stock to buy mutual fund - mechanics

As I understand it, once you sell the stock on the open market, you'll have an amount in the "Funds available to trade" portion of the account. Since this is a positive number, I believe Vanguard will allow you to use the "Funds available dollar amount" to buy the mutual fund of your choice. I help...
by Seasonal
Tue May 12, 2020 12:30 pm
Forum: Personal Investments
Topic: Sell individual stock to buy mutual fund - mechanics
Replies: 2
Views: 172

Sell individual stock to buy mutual fund - mechanics

I have authority over an account that has some individual stocks and Vanguard's short term investment grade bond mutual fund, all at Vanguard. I'd like to sell the individual stocks to buy Vanguard's total stock market fund. The stocks are trading close to their basis and I'd like to avoid capital g...
by Seasonal
Tue May 12, 2020 6:52 am
Forum: Personal Consumer Issues
Topic: Need to update my GMail PW
Replies: 12
Views: 917

Re: Need to update my GMail PW

Just checked my phone's GMail account settings and there is no spot to change the password. You have to do it on the desktop, perhaps from a browser login. If that prevents your phone/iPad from connecting to email, you may have to delete the account from the phone/iPad and then reinstall the accoun...
by Seasonal
Tue May 12, 2020 5:01 am
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8898

Re: Should we create a testamentary trust for $6M estate?

If you gave away $100 million you would pay $40 million of gift tax (ignoring your $11,580,000 exclusion amount). So if you only had $100 million and you already used your $11,580,000 exclusion amount you could only give away $71,428,571. You would pay gift tax of $28,571,428 of gift tax, which wou...
by Seasonal
Mon May 11, 2020 2:00 pm
Forum: Personal Consumer Issues
Topic: Apple Airpods
Replies: 30
Views: 1898

Re: Apple Airpods

The Airpods Pro are the top of the line Apple product. They have active noise cancellation and appear more comfortable than the regular Airpods. I'm happy with mine. There are other similar products from other vendors - tastes vary. Amazon has them in stock. I wouldn't be concerned about wireless fr...
by Seasonal
Mon May 11, 2020 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Should we create a testamentary trust for $6M estate?
Replies: 198
Views: 8898

Re: Should we create a testamentary trust for $6M estate?

5-- Any ideas or guidance on how to disperse the moneys? 6-- Anything else we should consider? 5. That's for the trustees to decide, based on her current and future needs (and to a lesser degree the expected needs of her children), as well as tax considerations. 6. Make sure the trust is sufficient...
by Seasonal
Mon May 11, 2020 7:05 am
Forum: Investing - Theory, News & General
Topic: How are munis repaid?
Replies: 4
Views: 294

Re: How are munis repaid?

They repay from available funds, which could be from new borrowings, revenue or any other source of funds, the same as any other entity that borrows money. Why would a city be different?
by Seasonal
Sun May 10, 2020 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Turbotax help:1099-div box 11
Replies: 12
Views: 557

Re: Turbotax help:1099-div box 11

Vanguard issues a report every year showing the percent of income/assets by state for various tax exempt funds. You should find it under the tax center area on the VG website. For the obio tax ex fund, I believe all of it gets allocated to Ohio. For the intermediate tax ex fund, there is probably a...
by Seasonal
Fri May 08, 2020 1:52 pm
Forum: Personal Investments
Topic: Vanguard Check policy changing in July
Replies: 22
Views: 1995

Re: Vanguard Check policy changing in July

I prefer a bank transfer because it's faster and more secure than a check. A check can easily get lost or delayed in transit.
by Seasonal
Fri May 08, 2020 12:07 pm
Forum: Personal Investments
Topic: Why Make Portfolio Safer (More Bonds) as I age?
Replies: 35
Views: 3047

Re: Why Make Portfolio Safer (More Bonds) as I age?

It works for her because she has a placid disposition, doesn’t get rattled, and has led a relatively frugal life with at least 100x more assets than her annual spending requirement. Her risk profile is considerably different than mine! It certainly wouldn’t work for most of us. Hence the bonds. Man...
by Seasonal
Fri May 08, 2020 4:15 am
Forum: Personal Investments
Topic: Why Make Portfolio Safer (More Bonds) as I age?
Replies: 35
Views: 3047

Re: Why Make Portfolio Safer (More Bonds) as I age?

When considering asset allocation for someone at or near retirement it seems like Social Security is seldom mentioned. Wouldn't SS be considered fixed income? In most cases when you add in SS a 75/25 portfolio may actually be 60/40 or even 50/50. Same goes for those with a pension. It just seems li...
by Seasonal
Thu May 07, 2020 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Deceased received economic impact check
Replies: 25
Views: 1496

Re: Treasury wants stimulus payment to dead returned

cowdogman wrote:
Thu May 07, 2020 10:53 am
Any estate with over $600 in income needs to file an estate tax return.
You're right. I was thinking of Form 706, but there's 1041.
by Seasonal
Thu May 07, 2020 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Deceased received economic impact check
Replies: 25
Views: 1496

Re: Treasury wants stimulus payment to dead returned

I believe the legal theory behind the return would be that it was a payment made by mistake . Recovery of a payment made by mistake is an equitable remedy based, among other things, the unjust enrichment of the recipient. That just begs the question - was the payment due under the CARES Act? If so,...
by Seasonal
Thu May 07, 2020 8:42 am
Forum: Personal Investments
Topic: Why Make Portfolio Safer (More Bonds) as I age?
Replies: 35
Views: 3047

Re: Why Make Portfolio Safer (More Bonds) as I age?

I am running some Monte Carlo simulators and I don’t understand the basis for why a person that is older say 60 and up should have an asset allocation closer to 50/50 stock bond versus just continuing to hold 100% stock like a 30 year old would. If I never plan to sell /use all my investments at a ...
by Seasonal
Thu May 07, 2020 5:32 am
Forum: Personal Finance (Not Investing)
Topic: Deceased received economic impact check
Replies: 25
Views: 1496

Re: Treasury wants stimulus payment to dead returned

I've yet to see an analysis that anyone is obligated to return a stimulus payment. It does not appear to be supported by the text of the CARES Act. FAQs published on irs.gov are not legal authority: "FAQs that appear on IRS.gov but that have not been published in the Bulletin are not legal authority...
by Seasonal
Wed May 06, 2020 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Deceased received economic impact check
Replies: 25
Views: 1496

Treasury wants stimulus payment to dead returned

[Merged into existing discussion -- mod oldcomputerguy] "The Treasury Department said Wednesday that people who received a stimulus payment on behalf someone who is deceased should return the money immediately. “A payment made to someone who died before receipt of the payment should be returned to ...
by Seasonal
Wed May 06, 2020 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Probate legal costs in NY and Pennsylvania?
Replies: 12
Views: 785

Re: Probate legal costs in NY and Pennsylvania?

The figure you mention seems low for the NY metropolitan area. But most of the work on this can be done by paralegals at lower rates. I spoke to that law firm (which a few people had recommended). They want a $5,000 retainer and charge by the hour. As expected, most of the work would be done by a p...
by Seasonal
Tue May 05, 2020 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Probate legal costs in NY and Pennsylvania?
Replies: 12
Views: 785

Re: Probate legal costs in NY and Pennsylvania?

As with many other things, some lawyers upsell. I called another law firm in the area to see what they might charge. The person who I spoke to said they charge $450/hour for a one hour consultation. I'm going to have a shorter free call, because I have too much time on my hands, but I find that tot...
by Seasonal
Tue May 05, 2020 10:02 am
Forum: Investing - Theory, News & General
Topic: Advantages of keeping your income below the stimulus check limits this year
Replies: 15
Views: 1897

Re: Advantages of keeping your income below the stimulus check limits this year

I think the important income number is your AGI but I have not seen a good technical explanation of the exact definition of the gross income limit used. It's just regular AGI -- not "modified" in any way. https://www.law.cornell.edu/uscode/text/26/6428 I continue to be amazed they didn't include ta...
by Seasonal
Tue May 05, 2020 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Probate legal costs in NY and Pennsylvania?
Replies: 12
Views: 785

Re: Probate legal costs in NY and Pennsylvania?

I think time is fairer to both the lawyer and the client. A fixed fee gives the client an incentive to be inefficient or worse, and it gives the lawyer an incentive not to spot issues. One of the principal differences between lawyers is the ability to spot issues. The fewer issues the lawyer spots,...
by Seasonal
Tue May 05, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Transfer i-bonds to trust: tax issues?
Replies: 7
Views: 621

Re: Transfer i-bonds to trust: tax issues?

Depending on her age and when it is desired to have the bonds out of her estate, she could set up a schedule and cash some in at regular intervals, paying the taxes as she goes. Part of the return would be principal. She could then transfer other assets into the Irrv trust and manage the savings bo...
by Seasonal
Mon May 04, 2020 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Probate legal costs in NY and Pennsylvania?
Replies: 12
Views: 785

Re: Probate legal costs in NY and Pennsylvania?

aristotelian wrote:
Mon May 04, 2020 12:33 pm
The mutual funds are not TOD?
No. They are to be placed in a testamentary trust.
by Seasonal
Mon May 04, 2020 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Probate legal costs in NY and Pennsylvania?
Replies: 12
Views: 785

Re: Probate legal costs in NY and Pennsylvania?

Probating the Will is generally a small part of the work in an estate administration, especially in Pennsylvania. Each estate is different. It depends on the nature of the assets, how much of the work the executors are able to do, how efficient the executors are, whether the beneficiaries are conte...