Search found 120 matches

by trustquestioner
Fri Jul 26, 2019 7:23 pm
Forum: Personal Investments
Topic: $$$ on the sideline and other thoughts
Replies: 19
Views: 1974

Re: $$$ on the sideline and other thoughts

The stock market seemed over valued to me 3 years ago. Luckily, I didn’t bail.

Nobody knows anything. Set an asset allocation, minimize fees and rebalance. It really is that simple.
by trustquestioner
Thu Jul 25, 2019 9:33 pm
Forum: Personal Consumer Issues
Topic: Fantastic Resort Recommendations???
Replies: 38
Views: 4506

Re: Fantastic Resort Recommendations???

My favorite is Kiawah Island.

Blackberry Farm is SUPER expensive. Like $2k/night.
by trustquestioner
Thu Jul 25, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Way out of financial catastrophe?
Replies: 80
Views: 11589

Re: Way out of financial catastrophe?

Did you try filing a homeowners claim? What happened?
by trustquestioner
Thu Jul 25, 2019 6:45 am
Forum: Personal Finance (Not Investing)
Topic: How do you deal with looking bad compared to others?
Replies: 77
Views: 5532

Re: How do you deal with looking bad compared to others?

I used to think there was something wrong with me for getting so mad at comments like this.

Now I’m just sad it took me so long to stand up for myself and refuse to be in the same physical space with people who refuse to respect boundaries and are sure to make me feel bad.
by trustquestioner
Wed Jul 24, 2019 6:26 pm
Forum: Personal Investments
Topic: Laid Off - Want to Retire / Am I OK
Replies: 145
Views: 19984

Re: Laid Off - Want to Retire / Am I OK

You can easily retire. Congratulations!
by trustquestioner
Wed Jul 24, 2019 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Family Fraud
Replies: 45
Views: 5184

Re: Family Fraud

It is truly amazing what percentage of the population is wholly incapable of handling access to money. Humans are strange creatures.

If it were me, I’d do everything possible to achieve accountability. Most seem to prefer phony harmony.
by trustquestioner
Tue Jul 23, 2019 8:38 am
Forum: Investing - Theory, News & General
Topic: Former Harvard Endowment Hotshot Jack Meyer Closes Hedge Fund
Replies: 7
Views: 1535

Former Harvard Endowment Hotshot Jack Meyer Closes Hedge Fund

Jack Meyer was for many years seen as a superstar manager, earning impressive yields for the Harvard endowment before essentially being run off for making and paying others too much money. He immediately opened Convexity, which initially managed more than $10 billion but has consistently failed to m...
by trustquestioner
Tue Jul 23, 2019 6:52 am
Forum: Personal Investments
Topic: YieldStreet latest offering - North Florida Pre-Development Financing
Replies: 11
Views: 971

Re: YieldStreet latest offering - North Florida Pre-Development Financing

I work in commercial real estate. This is a terrible deal.
by trustquestioner
Mon Jul 22, 2019 2:20 pm
Forum: Personal Investments
Topic: Are Bonds Still Necessary Ballast in a Long-Term Trust Fund?
Replies: 33
Views: 2513

Re: Are Bonds Still Necessary Ballast in a Long-Term Trust Fund?

Cut out the politics. I would retain a bond allocation to facilitate rebalancing.
by trustquestioner
Mon Jul 15, 2019 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25642

Re: Trust Services

Disagree. There is clearly a market for “I’ll put it all in index funds for .25% a year, $10,000 minimum,” look at this thread. This industry has price fixing. It is generally uncompetitive because the business is largely referred from cozy lawyers and the people who fee the pain aren’t the initial ...
by trustquestioner
Sun Jul 14, 2019 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 204
Views: 25642

Re: Trust Services

My frustration isn’t so much the active management - our corporate trustee has so many positions it more or less mirrors the market - it’s the constant trading for no discernible reason, generating trading fees and tax problems.
by trustquestioner
Thu Jul 11, 2019 6:10 pm
Forum: Investing - Theory, News & General
Topic: Three most important elements of investment success
Replies: 67
Views: 6894

Re: Three most important elements of investment success

I have my entire IRA in Wellington. Too simple?
by trustquestioner
Thu Jul 11, 2019 6:56 am
Forum: Personal Investments
Topic: Poorly Managed
Replies: 25
Views: 2311

Re: Poorly Managed

Advice you don’t want to hear: Back off. These sound like truly awful investments, but it is not your money, it is the trustee’s money. Try to have gratitude that you’ll probably eventually receive money you didn’t earn. Believe me, I sympathize. But I’ve learned from painful experience the approach...
by trustquestioner
Mon Jul 01, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Nightmare after wife's surgery
Replies: 84
Views: 7956

Re: Healthcare Nightmare after wife's surgery

There is literally only one country on earth where this happens. Infuriating.
by trustquestioner
Mon Jul 01, 2019 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 22847

Re: Do you share your net worth with family members?

My in laws think we’re bad with money because we don’t live in a big house or drive expensive cars. It’s perfect.
by trustquestioner
Wed Jun 26, 2019 6:55 pm
Forum: Investing - Theory, News & General
Topic: New Wealthfront Cash account 2.24% w/ FDIC up to 1mm. Anything similar?
Replies: 36
Views: 5206

Re: New Wealthfront Cash account 2.24% w/ FDIC up to 1mm. Anything similar?

Guess I have to do this...50 basis points better than my Amex savings is worth the hassle.
by trustquestioner
Sun Jun 23, 2019 7:52 am
Forum: Investing - Theory, News & General
Topic: Vanguard to offer private equity investments? Thoughts?
Replies: 70
Views: 8031

Re: Vanguard to offer private equity investments? Thoughts?

Private companies are currently very highly levered, with leveraged loans (definition is something like >6x EBITDA) dominating the worry list of regulators. Obviously every fund is different but I question how much of an edge these “we target middle market firms with $10-$100 million of EBITDA and a...
by trustquestioner
Fri Jun 21, 2019 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Behaviour once the game is won
Replies: 18
Views: 3436

Re: Behaviour once the game is won

Mid 30s and have won the game. WD about 2% annually. Still 75/25 because we (and generation above us) want the wealth to last generations.
by trustquestioner
Sat Jun 15, 2019 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 46
Views: 3883

Re: Do I need "Professional Trustee?"

Why does anyone choose Northern Trust? Presumably people who amass tens of millions of dollars are intelligent enough to realize it’s a massive ripoff?
by trustquestioner
Fri Jun 14, 2019 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 46
Views: 3883

Re: Do I need "Professional Trustee?"

You do not need a professional trustee. As someone currently dealing with not only a corporate trustee but also a completely unnecessary trust protector, I urge you to be firm on this. It’s literally millions of dollars. And beyond the money, they can create “issues” out of thin air to justify legal...
by trustquestioner
Sun Jun 09, 2019 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Aging Parents Who Try To Control Adult Children With Money
Replies: 2
Views: 1174

Aging Parents Who Try To Control Adult Children With Money

I’ve seen quite a bit of this lately and it seems like a major issue that nobody wants to talk about. I grew up in an upper middle class environment and it seems many of my peers (I’m late 30s) are, despite career success, in perilous shape in no small part because they are counting on inheritance a...
by trustquestioner
Thu Jun 06, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 40906

Re: For those who earn $500k+ per year. How'd you do that?

Every Megacorp I’ve been a part of has the same dynamic: By far the #1 biggest predictor of success within the organization is kissing your boss and your boss’s boss’ asses. Be absolutely ruthless. Subtly degrade your coworkers, but not in an obvious way. Pin blame for negative outcomes on others, e...
by trustquestioner
Wed Jun 05, 2019 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 40906

Re: For those who earn $500k+ per year. How'd you do that?

Most biglaw attorneys figure out about 10 years too late that networking is the name of the game. News flash, the clients can’t even tell if you’re doing good work or not, it’s all about bringing in business.
by trustquestioner
Wed Jun 05, 2019 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 40906

Re: For those who earn $500k+ per year. How'd you do that?

I know many, makes me feel poor: - Car dealers: know several making 7 figures and a few making $10 million+ a year. - Doctors who own group practices: I know a surgeon making several million a year, barely works himself. - Real estate developers: one good sized project can throw off a million a year...
by trustquestioner
Mon Jun 03, 2019 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8812

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

One circumstance I’ve seen a lot is second generation heirs behaving very differently, resulting in the grandkids receiving wildly different amounts (and timing - I’ve seen people wait their entire adult lives to inherit, it’s sad). Estate planning is unbelievably important, this stuff tears familie...
by trustquestioner
Wed May 29, 2019 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Another Trustee/trust Question
Replies: 16
Views: 1295

Re: Another Trustee/trust Question

Choose your trustee carefully and beware the drafting attorney as trustee. Trust companies will charge at least 1% and almost certainly trail the market with active trading. Vanguard is better/best IMO but won’t handle real estate and many here seem to have customer service issues. The short answer ...
by trustquestioner
Wed May 29, 2019 8:18 am
Forum: Personal Consumer Issues
Topic: $3k for teen club soccer
Replies: 104
Views: 7992

Re: $3k for teen club soccer

Youth sports have gotten completely out of control. My kid is 8 and some of these other parents are already putting pressure on their kids, yelling at them, etc. Absolutely bonkers, IMO. I suppose I’d consider it if my kid was really, really passionate and came to it on his own but that seems to be ...
by trustquestioner
Wed May 22, 2019 5:36 am
Forum: Personal Finance (Not Investing)
Topic: Senior management/executives
Replies: 51
Views: 4470

Re: Senior management/executives

The second sentence is true, the first is not.
by trustquestioner
Wed May 22, 2019 5:28 am
Forum: Personal Finance (Not Investing)
Topic: Senior management/executives
Replies: 51
Views: 4470

Re: Senior management/executives

The sad reality is that once you report, you are done at that company. HR is not your friend and they will try to get rid of you as cheaply and quickly as possible. It’s unfair and infuriating but you just have to get a new job.
by trustquestioner
Mon May 20, 2019 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Irrevocable trusts and capital gains
Replies: 5
Views: 665

Re: Irrevocable trusts and capital gains

If you distribute income to yourself you claim the income on your personal return, avoiding the nasty trust tax situation.
by trustquestioner
Sat May 18, 2019 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 19818

Re: High net worth, elite private or “good” public

We took our kids out of the fancy $30k private school because the social dynamics and money worship (constant fundraising, parents social climbing) was too irritating. Was the right choice for us.
by trustquestioner
Sat May 18, 2019 8:59 am
Forum: Personal Consumer Issues
Topic: Frustration dealing with contractors....am I doing something wrong?
Replies: 43
Views: 4773

Re: Frustration dealing with contractors....am I doing something wrong?

Lowest of 3 quotes to mulch our (medium sized) yard/beds was $750. Economy is too good.
by trustquestioner
Thu May 16, 2019 5:43 pm
Forum: Personal Investments
Topic: Step up at Death for a Trust
Replies: 3
Views: 371

Re: Step up at Death for a Trust

Yes, you get a step up in basis. There will be estate tax (if applicable) based upon asset value regardless of basis.
by trustquestioner
Wed May 15, 2019 1:15 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 101
Views: 12702

Re: If you are already wealthy, what keeps you motivated?

Those are some atrocious real estate investments.
by trustquestioner
Tue May 14, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 182
Views: 33304

Re: Cash - Throw it all on the table!!!

About $175k. Adding about 50% of gross income annually (all saving after tax advantages accounts).

I want cash available for REI in a downturn and don’t want to tap investment accounts.
by trustquestioner
Mon May 13, 2019 8:26 pm
Forum: Personal Investments
Topic: Email to my Edward Jones Rep
Replies: 46
Views: 4640

Re: Email to my Edward Jones Rep

Don’t thank him. He’s not a “nice guy.”
by trustquestioner
Fri May 10, 2019 10:59 pm
Forum: Personal Investments
Topic: Time to fire the financial assistant. Help me with the courage.
Replies: 41
Views: 4456

Re: Time to fire the financial assistant. Help me with the courage.

I have to stop reading these threads, they make my blood boil.

“Nice guy.” Try “crook.”
by trustquestioner
Tue May 07, 2019 6:17 pm
Forum: Personal Investments
Topic: Need Help: Lots of Moving Pieces
Replies: 4
Views: 680

Re: Need Help: Lots of Moving Pieces

The trust distribution amount was designed to cover all my expenses. The roughly 200k is living expenses plus taxes, approximately.

The trust document mandates distribution of income, with a health education maintenance standard for principal.
by trustquestioner
Tue May 07, 2019 5:26 pm
Forum: Personal Investments
Topic: Need Help: Lots of Moving Pieces
Replies: 4
Views: 680

Need Help: Lots of Moving Pieces

All, Hoping for some guidance, principally regarding asset allocation but there are other related issues as well. Financial picture as follows: Beneficiary of a trust of approximately $6m. Managed by a corporate trustee with an allocation of 75/25, individual stocks and bonds. Nothing can be done to...
by trustquestioner
Tue May 07, 2019 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Walk away from my auto lease?
Replies: 154
Views: 8644

Re: Walk away from my auto lease?

Story doesn’t pass the smell test.
by trustquestioner
Tue Apr 30, 2019 5:54 pm
Forum: Personal Consumer Issues
Topic: out of network emergency visits. Huge bill!!!
Replies: 156
Views: 13979

Re: out of network emergency visits. Huge bill!!!

I don't see what the issue is? You knew you were OON and chose to go there. It was NOT an emergency it was an elective decision. If the drive was too far why didn't you just get a taxi or uber to your in network ER. A kidney stone (yes I know how painful) is not an emergency. That is the truth. If ...
by trustquestioner
Tue Apr 30, 2019 11:24 am
Forum: Personal Consumer Issues
Topic: out of network emergency visits. Huge bill!!!
Replies: 156
Views: 13979

Re: out of network emergency visits. Huge bill!!!

Shallowpockets wrote:
Tue Apr 30, 2019 11:12 am
Probably the only true emergency related to only pain.
Uh...
by trustquestioner
Tue Apr 30, 2019 10:15 am
Forum: Personal Consumer Issues
Topic: out of network emergency visits. Huge bill!!!
Replies: 156
Views: 13979

Re: out of network emergency visits. Huge bill!!!

It is absolutely insane to me there are several people essentially saying “too bad OP, should have got in network!”

Come on.
by trustquestioner
Tue Apr 30, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Whats the Point of Climbing the Corporate Ladder?
Replies: 164
Views: 18596

Re: Whats the Point of Climbing the Corporate Ladder?

I placed enormous pressure on myself into my mid 30s to chase salary and prestige. This despite already being FI. We spend about 2% of our NW annually. One day the light bulb went off that my approach was, literally, crazy. So I stopped caring about those things. And I’m way happier now.
by trustquestioner
Mon Apr 29, 2019 9:14 pm
Forum: Personal Consumer Issues
Topic: out of network emergency visits. Huge bill!!!
Replies: 156
Views: 13979

Re: out of network emergency visits. Huge bill!!!

Health care in this country is absolutely insane. If this had happened to you in literally any other country with safe drinking water you wouldn’t have anything to worry about.

Sorry, OP.
by trustquestioner
Sat Apr 27, 2019 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: What are the cons of always being a one parent working household?
Replies: 134
Views: 9182

Re: What are the cons of always being a one parent working household?

Saving $75k on $130k with 4 kids? That’s borderline impossible.
by trustquestioner
Wed Apr 24, 2019 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Planning for family business transition [saving, inheritance, etc]
Replies: 19
Views: 931

Re: Planning for family business transition [saving, inheritance, etc]

Need way more details. Commercial real estate is often highly leveraged, $20 million of property could easily have $15 million of debt and cash flow less than $500,000 a year. More generally, sounds like a complete mess and a ticking time bomb. My advice, having been in a similar situation, it to st...
by trustquestioner
Tue Apr 23, 2019 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Divorce: Pension & Job Options
Replies: 47
Views: 5178

Re: Possible Divorce: Pension & Job Options

Yeah. IANAL, but she’s going to clean you out. Her family money is irrelevant.
by trustquestioner
Tue Apr 23, 2019 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Divorce: Pension & Job Options
Replies: 47
Views: 5178

Re: Possible Divorce: Pension & Job Options

If at all possible, stay married.