Search found 147 matches

by LFS1234
Sat May 16, 2020 8:09 am
Forum: Non-US Investing
Topic: The Mighty USD
Replies: 47
Views: 3377

Re: The Mighty USD

Been expecting it to tank since 71. It really is amazing how irrational things can be for so long. But the dollar has tanked since 1971. The US dollar has lost 84.5% of its purchasing power since January 1971, as measured by the Consumer Price Index. https://data.bls.gov/cgi-bin/cpicalc.pl Currenci...
by LFS1234
Wed May 13, 2020 2:07 pm
Forum: Investing - Theory, News & General
Topic: Is Warren Buffett's investing approach outdated?
Replies: 16
Views: 1408

Re: Is Warren Buffett's investing approach outdated?

Too much uncertainty on how coronavirus will play out. Other crashes you already knew the problem and were much easier to figure out how they would play out. Smart to be in cash when you don't know whats going on. If this was a one time coronavirus thing...we have lockdown for a month and then we a...
by LFS1234
Sat May 02, 2020 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Trying to lower tax on short term capital gains. Do conservation easements work?
Replies: 136
Views: 8905

Re: Trying to lower $800k tax on short term capital gains. Do conservation easements work?

OP, You made a $1,600,000 gain doing day-trading, and owe $800,000 in tax due to your being in the 50% tax bracket. On what capital base did you make this $1,600,000 gain? Or more relevantly, what does your balance sheet look like? Although the questions you ask are very narrow, the answers you rece...
by LFS1234
Fri May 01, 2020 1:05 pm
Forum: Personal Consumer Issues
Topic: [interested in purchasing] Berkshire Hathaway annual meeting swag
Replies: 5
Views: 811

Re: [interested in purchasing] Berkshire Hathaway annual meeting swag

I'd be interested in purchasing some of the meeting-specific items, which I assume have already been manufactured, such as t-shirts with the meeting logo, boxer shorts, etc. Does anyone know whether there is a plan for BRK to market these items? The information you're looking for will most likely b...
by LFS1234
Wed Apr 29, 2020 11:43 am
Forum: Investing - Theory, News & General
Topic: ??? Thomas Stanley - Stop Acting Rich book
Replies: 121
Views: 13276

Re: ??? @Thomas Stanley - Stop Acting Rich book

On Page 54 of Thomas Stanley's Stop Acting Rich book he writes It takes only 54 high-income generating farmers to produce 100 who are millionaires. But it take 383 high-income generating physicians to produce just 100 millionaires. Where do the remaining 46 farmers come from to produce 100 milliona...
by LFS1234
Wed Apr 22, 2020 9:07 pm
Forum: Personal Investments
Topic: Relative with Single Stock Holding
Replies: 10
Views: 986

Re: Relative with Single Stock Holding

Tread very carefully, especially if she hasn't asked for your help unwinding that single big position. You would take the blame if it doesn't go well - if her new holding drops or if ... Or if anything else whatsoever goes wrong between now and forever. +1 OP, did she ask you for investment advice?...
by LFS1234
Sun Apr 19, 2020 11:07 pm
Forum: Investing - Theory, News & General
Topic: Intrinsic Value
Replies: 5
Views: 1671

Re: Intrinsic Value

If anyone wouldn't mind, I would like some advice on how exactly to find a "price" or estimate of what a stock is. Many or most posters on this site do not believe that there is any such thing as intrinsic value; rather they believe that the market price of every stock is always exactly correct and...
by LFS1234
Sat Apr 18, 2020 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Possible to move in retirement without HUGE capital gain tax
Replies: 19
Views: 1542

Re: Possible to move in retirement without HUGE capital gain tax

My parents moved into a HCOL area in the 1970's, bought a home for about 100k that has increased in value to 1.6M, and are now looking to move to a lower cost of living area to be closer to their grandchildren. Its a good problem to have, but we are running the figures and it looks like to sell the...
by LFS1234
Sat Apr 11, 2020 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Why not buy mobile homes instead of overpriced traditional homes?
Replies: 78
Views: 7662

Re: Why not buy mobile homes instead of overpriced traditional homes?

A lot more people buy mobile homes than you might think. Go study the history of Clayton Homes, which was acquired by Berkshire Hathaway. The history and economics of the business is deeply fascinating. Since getting absorbed into Berkshire, Clayton has retained a lot more of its loans, and perhaps...
by LFS1234
Fri Apr 10, 2020 11:12 am
Forum: Investing - Theory, News & General
Topic: How long after starting investing, did you start to be happy about the power of compounding?
Replies: 92
Views: 6074

Re: How long after starting investing, did you start to be happy about the power of compounding?

How long after starting investing, did you start to be happy about the power of compounding? I recall two notable occasions. The first notable occasion was when I received my first five-figure IRA account statement, showing an account balance of $11,636, in early 1993. At that time, $2,000 was the ...
by LFS1234
Wed Apr 08, 2020 1:45 pm
Forum: Investing - Theory, News & General
Topic: Reading Balance Sheet
Replies: 23
Views: 1053

Re: Reading Balance Sheet

It is a good idea to learn how to read income statements and balance sheets. This is a basic accounting skill. You cannot run a business without a basic understanding of this, nor can you invest intelligently in somebody else's business (stocks). I second the suggestion of Peter Lynch's "One Up on W...
by LFS1234
Mon Apr 06, 2020 11:41 am
Forum: Investing - Theory, News & General
Topic: The lost era of the 1960's to early 1980's. How did investing work and not work back then?
Replies: 25
Views: 2402

Re: The lost era of the 1960's to early 1980's. How did investing work and not work back then?

I am slightly familiar with the time frame often described as a lost era for investing, the 1960's to early 1980's. The market went sideways basically in nominal prices whereas inflation ramped up. What can we learn from that era without delving into political discourse? I don't think one can under...
by LFS1234
Mon Mar 23, 2020 6:20 am
Forum: Investing - Theory, News & General
Topic: Inflationary effects pending?
Replies: 40
Views: 3259

Re: Inflationary effects pending?

If there ever was an area where "nobody knows nothing" applies, inflation prediction is it. Those who remember US inflation remember the ramp-up between about 1961 and 1980. By the late 1970s it was commonly expected for inflation to continue upwards. By 1980, the general expectation was that inflat...
by LFS1234
Wed Mar 18, 2020 12:16 am
Forum: Investing - Theory, News & General
Topic: Beware of HELOC freezes.
Replies: 22
Views: 2292

Re: Beware of HELOC freezes.

2008 was a liquidity crisis. Nobody knew how to value anything on the credit markets, so everybody froze. Credit wasn't extended to anyone. Today we're facing a demand shock with the Fed letting loose every liquidity arrow in their quiver. Reserve requirements cut, repo transactions through the roo...
by LFS1234
Tue Mar 03, 2020 9:03 am
Forum: Personal Consumer Issues
Topic: Should I get a safe? What kind? What would you do? How safe is a "safe"?
Replies: 91
Views: 6210

Re: Should I get a safe? What kind? What would you do? How safe is a "safe"?

For fire rating explanation: http://www.brownsafe.com/categories/faq/Fire_Protection.html For TL, see https://www.supplychimp.com/go/info/TL-Safe-Ratings-Explained.html Also, the time ratings are based on pros with complete knowledge of the safe and proper tools (not torches unless TRTL rated) Whil...
by LFS1234
Sat Feb 29, 2020 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: 51/49 LLC partnership. Need quick advice!!
Replies: 19
Views: 963

Re: 51/49 LLC partnership. Need quick advice!!

About to close on purchasing an event venue hall business on Monday with a business partner. He has a good foundational knowledge of the business already since he has bridal stores and photography businesses. We are investing equal amounts however he wants to maintain 51% shares to cover his butt. ...
by LFS1234
Wed Feb 26, 2020 12:55 pm
Forum: Personal Consumer Issues
Topic: Should I get a safe? What kind? What would you do? How safe is a "safe"?
Replies: 91
Views: 6210

Re: Should I get a safe? What kind? What would you do? How safe is a "safe"?

Requirements: 1 Water resistant or proof. We have lot's of documents to keep secure. 2 Somewhat theft proof and not able to be carried away (yes bolted to floor) 3 Fire proof. A must. (Neighbor had a massive house fire. 3 high end safes. Only 1 survived the fire.) 4 Size. Maybe 4-5 feet high, 2-3 f...
by LFS1234
Wed Feb 26, 2020 9:37 am
Forum: Personal Investments
Topic: Study CFA just for personal investment and portfolio management knowledge
Replies: 55
Views: 4206

Re: Study CFA just for personal investment and portfolio management knowledge

Hi there, To have a systematic understanding of personal investment, is studying for CFA useful or effective? Context: I'm a late 20s interested with personal investment. This forum has been extremely helpful and I'm following the 3-fund portfolio now. I want to gain a more systematic understanding...
by LFS1234
Wed Feb 05, 2020 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Lower-cost donor-advised funds?
Replies: 34
Views: 2017

Re: Lower-cost donor-advised funds?

I am quite afraid of thoroughly assuming the "rich donor" role in person, taking meetings to figure out how to structure gifts, being the powerful guy in the room with the checkbook. So don't. Start small, build up as your comfort level increases, and don't give anyone reason to believe that you co...
by LFS1234
Mon Feb 03, 2020 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Lower-cost donor-advised funds?
Replies: 34
Views: 2017

Re: Lower-cost donor-advised funds?

a 0.6% annual fee in your personal investment accounts would be very undesirable when you have the option of investing at less than a tenth of that cost If we had better options with DAF costing less than a tenth of the cost, we'd surely be using them, but unfortunately, AFAIK, we don't. I understa...
by LFS1234
Sun Feb 02, 2020 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Lower-cost donor-advised funds?
Replies: 34
Views: 2017

Re: Lower-cost donor-advised funds?

Hi, one of my main goals is to ramp up charitable giving. I have till now been doing this via donor-advised funds at Fidelity/Vanguard but they charge 0.6%. I don't understand why you're concerned about this. When you're saving for the future for yourself, every bit counts, compounding occurs over ...
by LFS1234
Sun Feb 02, 2020 6:13 am
Forum: Personal Investments
Topic: Do you feel less willing to contribute as retirement accounts get larger?
Replies: 57
Views: 4571

Re: Do you feel less willing to contribute as retirement accounts get larger?

I'm curious, especially for the folks with millions in their retirement accounts but also for those with less, if you just feel less willing to contribute after some point. After all, the daily or weekly fluctuation in your portfolio far exceeds whatever you are going to contribute. Does it just fe...
by LFS1234
Tue Jan 28, 2020 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Splitting personal assets into business venture funds
Replies: 1
Views: 201

Re: Splitting personal assets into business venture funds

If I understand this correctly, you have a NW of $4m, and plan to increase this to $10m fifteen or twenty years down the road, at which time you wish to allocate some of your wealth for philanthropy and some of it for venture funding opportunities. I don't follow the need for the firewall between th...
by LFS1234
Sat Jan 25, 2020 11:19 am
Forum: Personal Finance (Not Investing)
Topic: $2 million at a young age
Replies: 78
Views: 8919

Re: $2 million at a young age

My family received a huge settlement after a loss in the family and a month from now I will be getting $2,100,000. I'm 22 years old and I'm living with my girlfriend of a year. I make about $18,000 a year working a part-time minimum-wage job. I don't have any savings, only $150 in my bank account. ...
by LFS1234
Wed Jan 22, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Relocate to avoid State Taxes on Long Term Capital Gains?
Replies: 19
Views: 1808

Re: Relocate to avoid State Taxes on Long Term Capital Gains?

A few more points for OP: The test whereby tax domicile is established is not a black-and-white, checklist test. If/when you're seriously considering an exit, and especially if you don't plan on severing all ties to your previous state, you should speak with a tax attorney who has expertise and expe...
by LFS1234
Wed Jan 22, 2020 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Relocate to avoid State Taxes on Long Term Capital Gains?
Replies: 19
Views: 1808

Re: Relocate to avoid State Taxes on Long Term Capital Gains?

I have a non-retirement individual stock portfolio at a discount brokerage of $3.9M, where $3.2M is unrealized long term capital gains. Over the years I migrated from buying individual stocks to mutual funds (at Vanguard) -- but never got around to liquidating these original stock purchases from my...
by LFS1234
Mon Jan 13, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Loan from a Deceased Relative
Replies: 40
Views: 2003

Re: Loan from a Deceased Relative

What does the promissory note say about when the loan will be paid back? If it says something like he will pay $100 a month then he may owe some back payments but that would not mean that the full $5K was due right now. Once he is current then he could continue making the remaining payments to the ...
by LFS1234
Mon Jan 13, 2020 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Mom is updating her will - any “gotchas”?
Replies: 40
Views: 4344

Re: Mom is updating her will - any “gotchas”?

Your mother may live another 20 years. Women in their 90s are not unusual. Who knows what her finances and living circumstances will be by then. Seems much simpler just to spit the estate 50/50. If there is still a house at that point your sister can buy out your half, or choose not to. +1 An acqua...
by LFS1234
Sun Jan 12, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: 31k to daughter for car. Any tax problem?
Replies: 40
Views: 4988

Re: 31k to daughter for car. Any tax problem?

I don’t suppose there’s anyway to undo it once she’s cashed the check. It is a joint account so maybe it can be from both :oops: Sounds like one for my accountant. Why not have each parent gift 15K to the daughter and make the balance ($1K) a loan, which could be forgiven the following year. Those ...
by LFS1234
Sun Jan 12, 2020 12:02 am
Forum: Personal Finance (Not Investing)
Topic: 31k to daughter for car. Any tax problem?
Replies: 40
Views: 4988

Re: 31k to daughter for car. Any tax problem?

I don’t suppose there’s anyway to undo it once she’s cashed the check. It is a joint account so maybe it can be from both :oops: Sounds like one for my accountant. Why not have each parent gift 15K to the daughter and make the balance ($1K) a loan, which could be forgiven the following year. Why fi...
by LFS1234
Sat Jan 11, 2020 4:07 pm
Forum: Personal Investments
Topic: Posting Portfolio. Need advice on leaving Edward Jones with this specific portfolio.
Replies: 35
Views: 2051

Re: Posting Portfolio. Need advice on leaving Edward Jones with this specific portfolio.

...my personal preference is not to have all of my assets at a single firm - especially if those assets are substantial. I have my non-taxable account at Vanguard and my taxable accounts elsewhere. Vanguard seems particularly well-suited for extremely low cost, buy-and-forget situations. With taxab...
by LFS1234
Fri Jan 10, 2020 8:57 am
Forum: Personal Investments
Topic: Posting Portfolio. Need advice on leaving Edward Jones with this specific portfolio.
Replies: 35
Views: 2051

Re: Posting Portfolio. Need advice on leaving Edward Jones with this specific portfolio.

I'm not sure why you are talking to Schwab if you want to move everything to Vanguard? I'm not the OP, but my personal preference is not to have all of my assets at a single firm - especially if those assets are substantial. I have my non-taxable account at Vanguard and my taxable accounts elsewher...
by LFS1234
Tue Jan 07, 2020 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Opportunity cost of helping out relatives
Replies: 54
Views: 4980

Re: Opportunity cost of helping out relatives

No mention yet about the downsides to recipients of giving them substantial (for them) amounts of money for nothing in return? The recipient often pays a psychological price for this. With a 10-second action on your part (writing a check), you can take away a five-year hard-earned achievement from t...
by LFS1234
Sat Jan 04, 2020 1:50 pm
Forum: Personal Investments
Topic: Exit strategy from Edward Jones - Novice
Replies: 75
Views: 6032

Re: Exit strategy from Edward Jones - Novice

LFS1234, Thank you for the time you took to share your advice. I do very much appreciate it. I am determined to continue to learn and become educated so that I can make wiser choices. My parents used EJ starting a long time ago. You shared that less expensive options have become available over time...
by LFS1234
Fri Jan 03, 2020 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Medical school at 34 - Is this financial suicide?
Replies: 116
Views: 10232

Re: Medical school at 34 - Is this financial suicide?

There is a 1987 book entitled "Becoming a Doctor", written by Melvin Konner MD, who started medical school at the age of 33. You might find it a worthwhile read.

Best of luck with whatever path you choose. Hopefully the MDs here will have some good advice.
by LFS1234
Thu Jan 02, 2020 10:36 am
Forum: Investing - Theory, News & General
Topic: Peter Lynch on Barron's Roundtable Tonight
Replies: 61
Views: 5016

Re: Peter Lynch on Barron's Roundtable Tonight

OK, Boomer. Pretty clear from the lack of response that most folks here are unaware of who Peter Lynch is, particularly those from the Millennial generation. I guess Peter Lynch is a boomer thing. The 1980's and 1990's seem like a long time ago. 2000-2001 was a turning point of sorts. Prior to then...
by LFS1234
Thu Jan 02, 2020 6:52 am
Forum: Personal Investments
Topic: Exit strategy from Edward Jones - Novice
Replies: 75
Views: 6032

Re: Exit strategy from Edward Jones - Novice

2) I do have a margin loan at Edward Jones, currently at 4.25%. Will I need to pay this off before I transfer or, will they also transfer a margin loan? Of course I will ask them this question but, thought some of you might know the answer and have advice for me on that part. Given all the scorn th...
by LFS1234
Mon Dec 23, 2019 2:13 am
Forum: Investing - Theory, News & General
Topic: Peter Lynch on Barron's Roundtable Tonight
Replies: 61
Views: 5016

Re: Peter Lynch on Barron's Roundtable Tonight

OK, Boomer. Pretty clear from the lack of response that most folks here are unaware of who Peter Lynch is, particularly those from the Millennial generation. I guess Peter Lynch is a boomer thing. The 1980's and 1990's seem like a long time ago. 2000-2001 was a turning point of sorts. Prior to then...
by LFS1234
Sun Dec 22, 2019 2:21 pm
Forum: Investing - Theory, News & General
Topic: Peter Lynch on Barron's Roundtable Tonight
Replies: 61
Views: 5016

Re: Peter Lynch on Barron's Roundtable Tonight

A lot of what I learned about investing, particularly in individual stocks, I learned from Peter Lynch. A great investor, a great human being, an excellent author. +1 "One Up On Wall Street" was a must-read for a generation of investors and would still be on my short list today. Googling "Peter Lyn...
by LFS1234
Wed Dec 11, 2019 5:42 pm
Forum: Personal Consumer Issues
Topic: Sell current home, down size and purchase a vacation condo?
Replies: 34
Views: 2902

Re: Sell current home, down size and purchase a vacation condo?

We are still in the extremely early stages of planning this transition. Obviously, there are additional costs to moving as well as owning two properties. Any advice would be welcome. Thank you for your help. Also, thinking about Gainesville, Florida. We have enjoyed living in a college town. Any ot...
by LFS1234
Sat Oct 19, 2019 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Legacy/Inheritance
Replies: 61
Views: 7186

Re: Legacy/Inheritance

If one lived a lifestyle where it was known or assumed that one had a $4-6M net worth who lived off say $250k a year lifestyle there might not be any reason or inclination that the net worth was 10x that. I can see how that could happen. The amount of happiness gained from a $250k a year lifestyle ...
by LFS1234
Wed Sep 18, 2019 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 7064

Re: Tax avoidance and estate planning ‘for the rich’?

I realize this is a vague request but there is always a lot of discussion in the media and punditry about how the super wealthy can hire teams of lawyers to accumulate more money via avoiding taxes and shielding assets etc. but I never see any in-depth discussions about what it is exactly they’re d...
by LFS1234
Tue Sep 10, 2019 7:27 pm
Forum: Personal Investments
Topic: Gifting to our son
Replies: 14
Views: 2159

Re: Gifting to our son

Or gift $15K now and $15K in January 2020.

Always nice to avoid unnecessary tax filings.
by LFS1234
Tue Sep 10, 2019 8:03 am
Forum: Personal Consumer Issues
Topic: Elderly Parents have 3 day layover in Fort Lauderdale. What to do?
Replies: 24
Views: 2540

Re: Elderly Parents have 3 day layover in Fort Lauderdale. What to do?

Any useable answer would have to take into account the time of year; the more precision you can give, the better. It might also be useful to know if they're flying out of Fort Lauderdale or Miami. (Miami probably has a lot more direct flights to South America). OK, I dug up some more details from m...
by LFS1234
Sun Sep 08, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Girlfriend/Living Will/Trust question...
Replies: 19
Views: 2086

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

I need some advice on how to handle a complicated issue. This forum has been so helpful--thanks in advance. Some background: My grandfather is 99yo and in good health considering his advanced age. He has 2 sons who stand to inherit half his assets each. My uncle takes care of my grandfather and is ...
by LFS1234
Sun Sep 08, 2019 6:56 am
Forum: Personal Consumer Issues
Topic: Elderly Parents have 3 day layover in Fort Lauderdale. What to do?
Replies: 24
Views: 2540

Re: Elderly Parents have 3 day layover in Fort Lauderdale. What to do?

My wife’s elderly parents who are from Chile have somehow managed to have a 3-day layover in Fort Lauderdale between a cruise and flight onward. They are longtime world travelers but in their late 80s and probably shouldn’t be driving in a strange country. My mother-in-law has the idea of driving d...
by LFS1234
Sun Aug 18, 2019 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 339
Views: 21127

Re: Merits of a Selective School

I would say my view is that better average outcomes for elite schools are mainly the result of the difference in the students (going in), but that there is some effect of the school itself. I base this, roughly on: * Likely better peer effects * Likely much better resources of the college At the mo...
by LFS1234
Tue Aug 13, 2019 12:41 am
Forum: Personal Investments
Topic: Can having wealthy parents be a justification for a more aggressive investment strategy?
Replies: 97
Views: 8090

Re: Can having wealthy parents be a justification for a more aggressive investment strategy?

Ben Mathew wrote:
Mon Aug 12, 2019 10:44 pm
The good news for you is that people in their early 30s should be 100% stocks anyway....
+1
by LFS1234
Wed Aug 07, 2019 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Employer offering equity in company. What questions to ask?
Replies: 37
Views: 3322

Re: Employer offering equity in company. What questions to ask?

The OP has shared very little information, so we cannot know if this company is the latest version of a priced-to-fantasy dot.com where the rosiest conceivable future already is priced into the stock several times over, or whether it is a solid, conservatively managed company with a stellar long-ter...
by LFS1234
Tue Aug 06, 2019 1:34 pm
Forum: Personal Investments
Topic: Young with large windfall - would appreciate input on nuanced investment plan
Replies: 14
Views: 3621

Re: Young with large windfall - would appreciate input on nuanced investment plan

Thank you everyone for your input! Just some follow-up questions: Seems to me that it follows logically that when you buy your $500K-$600K house, you would pay for it in full rather than taking a mortgage. Given that the cost of the house only represents 1/4 of your net worth, this should be easy t...