Search found 101 matches

by LFS1234
Sun Aug 18, 2019 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 292
Views: 13816

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: 96
Views: 6814

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: 33
Views: 2484

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: 3300

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...
by LFS1234
Tue Aug 06, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Employer offering equity in company. What questions to ask?
Replies: 33
Views: 2484

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

To the extent that you don't have the ability to analyze this yourself, you need to hire somebody who does; at least if the stakes are significant. A CPA with a specialty in business valuation can tell you whether the deal being offered is likely to be a good one with minimal risk, a bad one with lo...
by LFS1234
Sat Aug 03, 2019 4:56 am
Forum: Personal Investments
Topic: Young with large windfall - would appreciate input on nuanced investment plan
Replies: 14
Views: 3300

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

"Neither a borrower nor a lender be". This is timeless wisdom with a large following across all religions. 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 ...
by LFS1234
Sun Jul 28, 2019 5:35 pm
Forum: Investing - Theory, News & General
Topic: Why Mr. Bogle prefers U.S stocks
Replies: 241
Views: 17242

Re: Why Mr. Bogle prefers U.S stocks

Fifty years ago, the conventional wisdom regarding foreign stocks would have been more averse. There would still have been generations of older people around who had first-hand memories of World Wars I and II, closed borders, massive wealth destruction, and wholesale confiscations of assets owned by...
by LFS1234
Sun Jul 21, 2019 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax deduction of historic photographs:
Replies: 15
Views: 935

Re: Tax deduction of historic photographs:

If you google "Valuation of Commercial Photographic Collections" you will find at least one article containing relevant information, as well as leads regarding people with expertise in valuing collections of this sort. A few phone calls ought to be able to give you a pretty good idea of what the val...
by LFS1234
Sat Jul 20, 2019 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: NYT Article: Safe Deposit Boxes Aren't Safe
Replies: 96
Views: 8356

Re: NYT Article: Safe Deposit Boxes Aren't Safe

Safe deposit boxes are quite safe from burglary. The burglar would have to first get into the vault, and then individually break into the safe deposit boxes of interest. Since the contents of most safe deposit boxes are unlikely to be of value to anyone other than their legitimate owners, the burgla...
by LFS1234
Sat Jul 20, 2019 2:12 pm
Forum: Personal Investments
Topic: Switching from passive to active management
Replies: 106
Views: 8459

Re: Switching from passive to active management

I decided to stick with low-cost index funds and individual services for estate planning, tax management, etc. instead of the all-in family office management. Speaking of estate planning, does anyone have any experience with Vanguard? It seems like it’s part of their Flagship Select services . Alte...
by LFS1234
Wed Jul 17, 2019 6:14 pm
Forum: Personal Investments
Topic: Switching from passive to active management
Replies: 106
Views: 8459

Re: Switching from passive to active management

What services does BT provide that (the OP is) interested in? Estate planning/trust management - an estate planning attorney would satisfy this need, and a quality one will still be way cheaper. Professional trust management should be done by a Trust Company and not by an estate attorney. Skilled t...
by LFS1234
Tue Jul 16, 2019 6:22 pm
Forum: Personal Investments
Topic: Switching from passive to active management
Replies: 106
Views: 8459

Re: Switching form passive to active management

I’d like to clarify that I’m not considering this multi-family office because I want to switch to active management. My interest for them comes from the wide range of services they offer (estate planning etc.) which are “unfortunately” bundled with active management. There’s also something reassuri...
by LFS1234
Mon Jul 15, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: How to bring this money to the USA?
Replies: 10
Views: 1460

Re: How to bring this money to the USA?

Just realized that the original post is almost a year old. dm200's timely (2018) response was correct.
by LFS1234
Mon Jul 15, 2019 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: How to bring this money to the USA?
Replies: 10
Views: 1460

Re: How to bring this money to the USA?

to the OP: Depending on the details, this may be more complicated than some of the posters realize. Google "gifts from foreigners to US citizens" and some of the links will be from accounting firms and law firms who have written about these matters. These are worth reading. The source and nature of ...
by LFS1234
Sun Jul 14, 2019 10:25 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2484

Re: Gold Coin for fun, not for investment or numismatics

I've posted this before, but I LOVE handling gold coins! And I think everyone who can afford it should buy some, just so you can understand the magic they hold. Gold coins do hold a certain magic. Perhaps it is their ability to retain their original luster forever. A 100+ year old gold coin will lo...
by LFS1234
Sun Jul 14, 2019 4:01 am
Forum: Personal Finance (Not Investing)
Topic: Invest in career change to Accounting for 37 yr old? Would it be foolish?
Replies: 145
Views: 7827

Re: Invest in career change to Accounting for 37 yr old? Would it be foolish?

you sit at a desk 50-60 hours a day, and it is assume you just sit, no breaks, no taking a walk, or anything, they basically want you chained to your desk. Not if you own the firm. :wink: Have you considered hanging out your own shingle? Life is much better in private practice, in my humble opinion...
by LFS1234
Sat Jul 13, 2019 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Invest in career change to Accounting for 37 yr old? Would it be foolish?
Replies: 145
Views: 7827

Re: Invest in career change to Accounting for 37 yr old? Would it be foolish?

I currently hold an associates of business administration with a graduation date of 2006. I've been a CNC machinist/programmer for the past few years and find production work extremely unfulfilling. I've pretty much already topped out on pay and feel stagnant knowing I have 27 more years or so unti...
by LFS1234
Fri Jul 12, 2019 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to deposit Euros to a US Bank
Replies: 36
Views: 2451

Re: Best way to deposit Euros to a US Bank

What exactly is she doing in China with the ATM? Taking out renminbi and converting to euros to take home? If she works legitimately, she should be able to transfer her legal income out of China via a bank/money transfer service. What is going on is far too complicated and doesn't make any sense. +...
by LFS1234
Thu Jul 11, 2019 1:41 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation of the Ultra-Wealthy, can I copy their portfolio with index funds?
Replies: 63
Views: 5075

Re: Asset Allocation of the Ultra-Wealthy, can I copy their portfolio with index funds?

I'd be awfully skeptical of any survey presented, they usually have an agenda. The agenda here is clear enough. Every year, TIGER 21 compiles this survey and issues a press release, which gets widely reported in the popular press. This massive free publicity helps it to get its name out and to expa...
by LFS1234
Thu Jul 11, 2019 3:42 am
Forum: Personal Finance (Not Investing)
Topic: Inner Turmoil - Salaried Employee vs Self Employment
Replies: 15
Views: 1648

Re: Inner Turmoil - Salaried Employee vs Self Employment

Maybe I need to talk to my boss about wanting a challenge to work towards, maybe I need to start my own business. A third possibility, as others have pointed out, is to look into other employment opportunities. According to A. David Silver in his 1985 book "Venture Capital, The Complete Guide for I...
by LFS1234
Mon Jul 01, 2019 9:33 am
Forum: Personal Consumer Issues
Topic: Robotic Lawnmowers?
Replies: 18
Views: 1498

Re: Robotic Lawnmowers?

I am moving from a house with a postage stamp front yard I cut with a string trimmer to a 1/2 acre lot. With two small children and a demanding job, my time is limited, so I'm not sure I have time to mow with a traditional lawnmower every weekend in the summer. Lawn crews run around $40 a week, and...
by LFS1234
Sat Jun 29, 2019 9:28 am
Forum: Personal Finance (Not Investing)
Topic: How much does it cost to build a garage?
Replies: 8
Views: 1174

Re: How much does it cost to build a garage?

fittan wrote:
Fri Jun 28, 2019 1:32 pm
Hi fellow BH, has anyone has any experience building (using contractor, not DIY) a garage that is connected to house?

How much does it cost typically? $30k? $50k?

Thanks.
I found this site useful when I was building mine:

https://www.garagejournal.com/forum/
by LFS1234
Sat Jun 29, 2019 8:48 am
Forum: Personal Investments
Topic: DIY for UHNW
Replies: 55
Views: 6269

Re: DIY for UHNW

...I met with a family office a few days ago. Here are my impressions in case it helps anyone in a similar situation: ...They did beat the market for 7 years in a row. We often hear that very few active managers achieve this consistently, but it seems like they’re one of the few winners.... Quick u...
by LFS1234
Fri Jun 28, 2019 3:35 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 904
Views: 114116

Re: Celebrating a milestone today: my first day with $100,000 in retirement accounts

....But that's not my greatest investment sin. That would be the plan I've written into my IPS that states that I will increase the leverage of my investment portfolio when the S&P 500 hits certain negative thresholds. So when the S&P 500 falls 10% from its previous all-time high, I change my portf...
by LFS1234
Thu Jun 27, 2019 7:10 am
Forum: Personal Investments
Topic: I Inherited a Trust, Please Help Me Find A Trustee
Replies: 12
Views: 1730

Re: I Inherited a Trust, Please Help Me Find A Trustee

Real estate is a management-intensive asset class, and one way or another, someone is either going to have to spend a lot of time dealing with this, or spend a lot of money in order to buy the time of others to deal with this. These problems are compounded by the rental condos being far away, rather...
by LFS1234
Wed Jun 19, 2019 10:33 pm
Forum: Investing - Theory, News & General
Topic: Indexing VS. buying Berkshire Hathaway stock?
Replies: 34
Views: 3055

Re: Indexing VS. buying Berkshire Hathaway stock?

Buffett and Munger are old? Why hasn't somebody told me this before? If this news gets out, my 8% in Brk-B is going to be worthless. I'm at 16-17% in BRK and sleeping very well. I've been aware of the company since the 1990's and started accumulating shares in 2006. Buffett will cheerfully tell any...
by LFS1234
Wed Jun 19, 2019 9:56 am
Forum: Investing - Theory, News & General
Topic: Investing in Multiple Streams of Income? (NOT get rich quick)
Replies: 94
Views: 8566

Re: Investing in Multiple Streams of Income? (NOT get rich quick)

Hi everyone! I've been grappling lately with trying to square this circle. My general sense of Boglehead-ism is to live well within one's means, invest in broad low-cost index funds, enjoy the fruits of the market, and have a happy retirement. HOWEVER, I also enjoy reading books and articles about ...
by LFS1234
Tue Jun 18, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Posponing FIRE to go back to School
Replies: 20
Views: 1816

Re: Posponing FIRE to go back to School

Hello, I am interested in getting an International MBA. I am burnt out in my current career (pharmacist (not retail)) and feel that this would be a great way to make a career transition closer to my interests and make a positive change in my life. The thought of attending this program and the oppor...
by LFS1234
Mon Jun 17, 2019 12:22 am
Forum: Forum Issues and Administration
Topic: Why not add a "like" button to Boglehead posts?
Replies: 185
Views: 31901

Re: A way to "thank" posts

Goal33 wrote:
Mon Jun 17, 2019 12:01 am
I fear it would reward snark.
+1
by LFS1234
Sat Jun 15, 2019 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 46
Views: 3617

Re: Do I need "Professional Trustee?"

There is definitely an advantage to having a professional trustee, but if I were going to pay 1.25% to the trustee I would certainly retain a qualified corporate trustee, not the attorney who drafted the instrument who could not have the combined skills of a corporate trustee nor the perpetual exis...
by LFS1234
Sat Jun 15, 2019 8:33 am
Forum: Personal Investments
Topic: DIY for UHNW
Replies: 55
Views: 6269

Re: DIY for UHNW

It’s funny how I’m now contemplating these family offices and private wealth managers. That’s literally the opposite of the Bogleheads culture I’ve been embracing and advocating for a while now. I don’t know yet if it’s a logical, reasonable progression given my financial evolution, or if I’m just ...
by LFS1234
Fri Jun 14, 2019 10:24 pm
Forum: Personal Investments
Topic: DIY for UHNW
Replies: 55
Views: 6269

Re: DIY for UHNW

I think I would look into a "multi-family office" (MFO) to see if maybe that is a good solution. I researched the topic a little bit and it seems like https://www.northerntrust.com and https://www.bessemertrust.com have a great reputation. I’ll give them a call and see how I feel about it. Should b...
by LFS1234
Fri Jun 14, 2019 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to preserve $10M+ in wealth owned by unsophisticated people?
Replies: 82
Views: 15185

Re: How to preserve $10M+ in wealth owned by unsophisticated people?

I made close to a half million dollars net worth by working in various cities across the USA with my advanced degrees, and I retired in my 40s.... Like most, I'm impressed by the OP's relatives who managed to amass a $10M fortune beginning with nothing. It is impressive enough to get to the first m...
by LFS1234
Thu Jun 13, 2019 12:31 pm
Forum: Personal Investments
Topic: DIY for UHNW
Replies: 55
Views: 6269

Re: DIY for UHNW

I'm currently managing some of my funds at Schwab and Vanguard, while Morgan Stanley manage the rest. As I'm starting to think about estate planning, I'd like to consolidate my portfolio in just one place in order to avoid overwhelming my heirs with multiple brokerage accounts and investment strate...
by LFS1234
Wed Jun 12, 2019 9:52 pm
Forum: Personal Investments
Topic: High net worth individual seeks portfolio advice
Replies: 81
Views: 9558

Re: High net worth individual seeks portfolio advice

The 3-fund portfolio does scale extremely well no matter what your level of wealth. If you feel comfortable that you know what you're doing, there is no need for an investment advisor. If you are uncomfortable, you can hire one to manage at least a portion of your assets. According to credible post...
by LFS1234
Wed Jun 12, 2019 8:36 pm
Forum: Personal Investments
Topic: High net worth individual seeks portfolio advice
Replies: 81
Views: 9558

Re: High net worth individual seeks portfolio advice

With that high of a net worth you are not in a good position to do DIY investing It shouldn't, but this statement annoys me quite a bit. Bogleheads often praise the fact that the 3-fund portfolio scales extremely well no matter your level of wealth, but then in practice, the tone radically changes ...
by LFS1234
Wed Jun 12, 2019 5:53 am
Forum: Personal Finance (Not Investing)
Topic: How to preserve $10M+ in wealth owned by unsophisticated people?
Replies: 82
Views: 15185

Re: How to preserve $10M+ in wealth owned by unsophisticated people?

Your comment scored a direct bullseye when you said " OP looks as if he does have a credibility gap" - bingo! I have done standup comedy at the amateur level, so I always like to 'joke around'.... As a consequence, despite my numerous professional accomplishments (including advanced university degr...
by LFS1234
Tue Jun 11, 2019 11:03 am
Forum: Investing - Theory, News & General
Topic: The collapse of Neil Woodford
Replies: 21
Views: 3517

Re: The collapse of Neil Woodford

The short version is: Woodford went from the top of the leaderboard to the bottom. Part of that is because Woodford began dabbling in holding shares of unlisted (e.g illiquid) companies[6]. Now a spiral has begun, the underperformance is causing investors to pull out but the large illiquid holding ...
by LFS1234
Mon Jun 10, 2019 8:44 am
Forum: Personal Consumer Issues
Topic: I'm thinking about buying a supercar anyone here done this and feedback?
Replies: 241
Views: 14235

Re: I'm thinking about buying an exotic supercar anyone here done this and feedback?

One more vote here for going ahead, since you easily can afford it. Either you will find that it doesn't provide enough pleasure for the money and you will get it out of your system, or you will join the small group of people who come to the opposite conclusion and become committed to the hobby. Eit...
by LFS1234
Sat Jun 08, 2019 7:30 am
Forum: Personal Investments
Topic: Moving from Rat Race to FIRE, Near All-Time Highs (Best Way to Invest Account Sitting in 100% Cash)
Replies: 35
Views: 6186

Re: Moving from Rat Race to FIRE, Near All-Time Highs (Best Way to Invest Account Sitting in 100% Cash)

I've heard about the safe withdrawal rate of 4% preached by FIRE experts (e.g., Mr. Money Mustache). The thought of not having to work and taking 4%, the safe withdrawal rate, of $1.25 annually from my account if it were all fully invested would cover my monthly expenses making me financially free....
by LFS1234
Fri Jun 07, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Highly appreciated whiskies
Replies: 34
Views: 3553

Re: Highly appreciated whiskies

I love Japanese whisky. I started drinking these years ago. They were esoteric but fairly cheap at the time, so I bought a few cases of Yamazaki 12 and 18 yr, Hakushu 12 and 18yr, and Hibiki 12 and 17 yr. J whisky has since gotten really popular, and those bottles now sell for a lot of $. (Like >5x...
by LFS1234
Fri Jun 07, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: how to deal with people who are not living boglehead way of life
Replies: 45
Views: 2943

Re: how to deal with people who are not living boglehead way of life

To the OP: You can keep a stock of your favorite John Bogle-authored book(s) on hand and give them to people as gifts when it seems appropriate. Just tell the recipient that you've found the book helpful in your life, and that you hope they'll find it helpful in theirs as well. No other comment need...
by LFS1234
Wed May 29, 2019 12:43 am
Forum: Personal Investments
Topic: Too many eggs in one basket?
Replies: 43
Views: 5021

Re: Too many eggs in one basket?

You must be an active employee to own a share. Upon retirement you must sell to an approved shareholder- prospective shareholders must be approved by current shareholders (23 of us now). Per our agreement no one older than 72 can be a shareholder. For our company we use 1.5 of book to value stock. ...
by LFS1234
Sun May 26, 2019 11:10 pm
Forum: Personal Investments
Topic: Too many eggs in one basket?
Replies: 43
Views: 5021

Re: Too many eggs in one basket?

My wife and I both work at the same independent insurance agency. I am a producer and VP, she is on service team. We have roughly 150employees and 23 shareholders. In the next year 2 larger shareholders will retire and roughly 3000 shares will be available. I would like to purchase more shares. Sha...
by LFS1234
Sat May 25, 2019 5:06 pm
Forum: Personal Consumer Issues
Topic: Meaning of "high/low tolerance" in precision engineering
Replies: 12
Views: 1053

Re: Meaning of "high/low tolerance" in precision engineering

Engineering tolerance is a very, very basic concept. When you want someone to manufacture something for you, someone has to specify not only the desired dimensions, but how precisely those desired dimensions have to be achieved. For example, if you want someone to cut an 8' length of a 2x4 for you, ...
by LFS1234
Sat May 25, 2019 5:09 am
Forum: Investing - Theory, News & General
Topic: Actual Experience as true measure of risk tolerance
Replies: 82
Views: 6630

Re: Actual Experience as true measure of risk tolerance

I think "actual experience" has to include the effect of the economic conditions during your formative years; not just your own personal financial experiences. Thank you for your sharing. I'm glad you did well especially on that dotcom. I'd like to ask if you're still subscribing to indexing. I ass...
by LFS1234
Sat May 25, 2019 4:52 am
Forum: Personal Investments
Topic: Need help managing excess taxable income
Replies: 16
Views: 1956

Re: Need help managing excess taxable income

Hi all, Graduated two years ago and posted a few times to learn. I’m 26 now and for the most part I’ve stuck to the plan. I have a basic 3 fund portfolio split across the various investment account types. I’ve maxed my 401k, HSA, and IRA every year. I’ve bought a small house and paid it off already...
by LFS1234
Tue May 21, 2019 1:34 am
Forum: Investing - Theory, News & General
Topic: Actual Experience as true measure of risk tolerance
Replies: 82
Views: 6630

Re: Actual Experience as true measure of risk tolerance

I think "actual experience" has to include the effect of the economic conditions during your formative years; not just your own personal financial experiences. The Great Depression caused generations of people to avoid stocks for most of their lives, preferring to invest in CDs and the like. They we...
by LFS1234
Sun May 19, 2019 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: [Death in family - First steps to pay beneficiaries?]
Replies: 6
Views: 618

Re: Father passed - First steps to taking over finances?

Please note that 1030danielle, who posted today (2019), is not the original poster. The OP posted in 2016, and all responses prior to today's were posted in 2016. 1030danielle's situation is not necessarily identical to that of the OP.
by LFS1234
Fri May 17, 2019 12:52 pm
Forum: Investing - Theory, News & General
Topic: We’ve won the game...but how do we stop playing?
Replies: 76
Views: 8434

Re: We’ve won the game...but how do we stop playing?

I'm in the same boat as your grandma OP. I won the game. Bogleheads teaches that when you win the game, you should stop playing. And yet, like you, when I posted here BHers told me not to sell either. Very confusing. They teach one thing - yet when we come here to ask for advice on how best to do i...