Search found 25231 matches

by Grt2bOutdoors
Fri Mar 15, 2024 5:38 pm
Forum: Personal Investments
Topic: 401k Salary Amount Phase Out? - $345k
Replies: 12
Views: 1918

Re: 401k Salary Amount Phase Out? - $345k

Take the cash you have and invest it / regardless if you get the match or not.
by Grt2bOutdoors
Fri Mar 15, 2024 8:06 am
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 120
Views: 11069

Re: The best game-changing financial advice you ever received (or "discovered")

Live beneath your means.
No one will watch over your money better than you - this refers to those who create formulas for saving investing and living without knowing one’s personal circumstances.
Get that education.
by Grt2bOutdoors
Tue Mar 12, 2024 6:19 am
Forum: Personal Investments
Topic: Financial Advisor says my portfolio is akin to a retiree at age 34
Replies: 80
Views: 8052

Re: Financial Advisor says my portfolio is akin to a retiree at age 34

There is nothing wrong with your current portfolio. Ignore the salesperson. He’s just trying to land a large account and leave you with less money.
by Grt2bOutdoors
Sun Mar 10, 2024 8:40 pm
Forum: Personal Investments
Topic: Am I on the right track?
Replies: 13
Views: 1843

Re: Am I on the right track?

keinodoggy wrote: Tue Mar 05, 2024 4:04 pm It has been 5 years since I originally created this thread. In January 2022 my wife and I officially retired. I just wanted to return here and thank everyone who gave me sound advice those years ago. Presently we are happy, financially secure and enjoying our retirement. From meager financial beginnings, working hard, investing wisely, we can relax with our $1.2 million nest egg. If we were able to do this, then anyone, if they set their mind to it, can also. :D
Congrats! :sharebeer
by Grt2bOutdoors
Sun Mar 10, 2024 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing for Marriage
Replies: 47
Views: 4720

Re: Preparing for Marriage

valleyrock wrote: Sun Mar 10, 2024 8:30 pm Advice I got is spot on. All you need to do is say "Yes, dear."
A people pleaser I see :D
by Grt2bOutdoors
Sun Mar 10, 2024 8:35 pm
Forum: Personal Investments
Topic: Fidelity advice
Replies: 67
Views: 8018

Re: Fidelity advice

Juliedew wrote: Sun Mar 10, 2024 8:20 pm Thank you. It was stepped up basis. I just want to keep it as simple as possible. They had him invested in so many overlapping mutual funds, and the same individual stocks in taxable and IRA.
Then, it's hard to understand just what the advisor was referring to in "saving you a ton of taxes". It does not appear you made any terrible mistakes. You should structure your investments according to your risk tolerance what I call the "sleep well at night or SWAN" approach.
by Grt2bOutdoors
Sun Mar 10, 2024 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing for Marriage
Replies: 47
Views: 4720

Re: Preparing for Marriage

1. Have the money talk now with your fiancee before you say "I do" and not after. Know what your money values are as to spending, saving for the future and big ticket items. My spouse and I discuss large purchases (you set the limit on what you consider large) in advance before we actually buy it. 2. Avoid consumer debt like the plague - there is no investment that will pay you a rate of 10%+ guaranteed, so if you must use a credit card to purchase items, make sure you have the cash to pay the bill when it arrives. 3. One joint checking account, one joint savings account, one taxable brokerage account after you get married. Accounts you held prior to getting married you can keep in your names if you choose. 4. Save for retirement ...
by Grt2bOutdoors
Sun Mar 10, 2024 7:37 pm
Forum: Personal Investments
Topic: Fidelity advice
Replies: 67
Views: 8018

Re: Fidelity advice

I recently inherited an IRA and Investment account at Fidelity. I have received numerous calls in the last couple of weeks. On Friday, a VP from Colorado called me and wanted to schedule a Zoom call. He said he was a fiduciary, but signing up for their services would be .4% per year and they would actively manage my account. I keep telling them that I will call them if I have any questions, or require their services. That is not working. When I inherited the account, there were over 30 stocks and I sold everything and moved it to SPAXX. The numerous mutual funds have very high expense ratios, so I’m in the process of selling those too. I told him my plan was to put the IRA funds in CDs ( has to be depleted in 10 Years) and the investments ...
by Grt2bOutdoors
Sat Mar 09, 2024 9:54 pm
Forum: Personal Investments
Topic: Fidelity advice
Replies: 67
Views: 8018

Re: Fidelity advice

The "vice presidents" are just more senior sales people. Are either of them even CFPs? The VP did not say. The other one said he was a CFP. Regardless of their titles, the investments suggested by them should meet the suitability requirement. Does it? Does your Investment Policy Statement have a line item that indicates you are willing to invest in alternative investments? If it does not, then no need to pursue this further. As for the 11% annual rate on private loans, well they are being truthful as to the high coupons those private companies are paying today. What they aren't telling you is that those private companies are highly leveraged, there is no public market for those loans meaning they are illiquid - in a market simila...
by Grt2bOutdoors
Fri Mar 08, 2024 8:51 pm
Forum: Personal Investments
Topic: 16 yr old - how can I best take on high risk?
Replies: 65
Views: 5233

Re: 16 yr old - how can I best take on high risk?

Invest your money wisely in yourself - get the best education you can with the highest return on investment in a field where demand is high but supply is low. These are usually occupations few are willing or able to take on due to demands on time longer than average careers, long investment period (multiple years), dangerous environment.

If you are unable to do the above, invest all of your disposable income in the US Total Stock Market Index. Keep adding to it, through thick and thin, then let time do the heavy lifting.

The difference between the two options? One may get you to the finish line sooner, the other may or may not. No guarantees.
by Grt2bOutdoors
Mon Mar 04, 2024 4:21 am
Forum: Personal Investments
Topic: Good or bad time to invest in S&P 500 for Roth IRA?
Replies: 30
Views: 3804

Re: Good or bad time to invest in S&P 500 for Roth IRA?

Do you have an asset allocation plan? Timing the market rarely works. If you are 54, you have a 25-30+ year investment horizon. No one knows what the markets will do tomorrow, it is far better to pick an asset allocation plan that lets you sleep at night.

Are you able to list out in the format shown in Asking Portfolio Questions your current portfolio?
by Grt2bOutdoors
Sun Feb 25, 2024 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Strategy with volatile income
Replies: 10
Views: 992

Re: Savings Strategy with volatile income

I can't stress the value of liquidity enough. If you think of retirement accounts as actual retirement accounts, then those are illiquid. It's unfortunate your employer has undertaken these actions - either they are having a cash flow issue, or are making money off the float while they leave you to hang in the wind.

I'd keep the cash in a money market fund, especially if that account represents 12 months or less of expenses. Markets can go down too, they go up and go down like a yo-yo, do you want to risk your monthly cash flow? Let the retirement accounts and brokerage benefit from the market returns, let your sleep or rather your wife's sleep benefit from the liquidity.
by Grt2bOutdoors
Sat Feb 24, 2024 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for college costs?
Replies: 13
Views: 1306

Re: Planning for college costs?

At your current financial status you'll receive no financial aid - unless you are willing to accept parent plus loans. College costs depend on where your kids are planning to attend: state school, out of state private/public schools, in-state private. Kid's academic ability may get them merit aid at any of the above choices. At your current 529 savings, it may pay for in-state college costs without room and board. Do you need to retire at age 57? No, I don’t need to retire at 57. Job would gladly have me stay, or I could likely get a consulting job with little to no supervisory duties. I’ve been at this employer for 31 years, and am getting burned out. I have nearly 600 employees. Have you looked at the Vanguard College Savings Planner? I ...
by Grt2bOutdoors
Sat Feb 24, 2024 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for college costs?
Replies: 13
Views: 1306

Re: Planning for college costs?

At your current financial status you'll receive no financial aid - unless you are willing to accept parent plus loans.
College costs depend on where your kids are planning to attend: state school, out of state private/public schools, in-state private.
Kid's academic ability may get them merit aid at any of the above choices.

At your current 529 savings, it may pay for in-state college costs without room and board.

Do you need to retire at age 57?
by Grt2bOutdoors
Sat Feb 24, 2024 2:00 pm
Forum: Personal Investments
Topic: Heavy Value Tilt Away from Mag 7 stocks
Replies: 221
Views: 13733

Re: Heavy Value Tilt Away from Mag 7 stocks

livesoft wrote: Fri Feb 23, 2024 7:27 pm And I am thinking of abandoning my value tilt.
Now I know its time to buy value! The ultimate contrarian indicator is when LIvesoft says he's abandoning ship!
by Grt2bOutdoors
Sat Feb 24, 2024 1:59 pm
Forum: Personal Investments
Topic: Investment Strategy when approaching Retirement.
Replies: 32
Views: 3038

Re: Investment Strategy when approaching Retirement.

There's a book called Where Are the Customer's Yachts? If you pay that 1.6% fee, you'll find your yacht parked outside your advisor's office, only they own it and are sailing away with your money!! Don't pay 1.6% - if you must, let Vanguard do it for 0.3% and hire a CPA to do your taxes for you. You are going to find yourself keeping at least 1% of it to spend or save as you like - use that to buy your own yacht!!


If you want to do it yourself, you can keep the 0.3% in asset management fees.
by Grt2bOutdoors
Fri Feb 23, 2024 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: With hindsight, what signs indicated you were about to lose your job?
Replies: 176
Views: 25828

Re: With hindsight, what signs indicated you were about to lose your job?

An important meeting was held, I wasn't invited. A colleague from another department said "didn't you get the invite"? He was shocked I wasn't in that meeting.

A day later........I was invited to another meeting. Your position has been eliminated.
by Grt2bOutdoors
Fri Feb 23, 2024 10:02 am
Forum: Personal Consumer Issues
Topic: College cheating, what would you do?
Replies: 64
Views: 4354

Re: College cheating, what would you do?

The college could defeat this by instituting oral exams. Good luck using AI for that, in front of your peers.
by Grt2bOutdoors
Fri Feb 23, 2024 9:30 am
Forum: Personal Consumer Issues
Topic: How do you live healthy?
Replies: 107
Views: 8111

Re: How do you live healthy?

Practice gratitude. Keep socially active. You might be spiritual. A calm mind will cut your stress/anxiety. Take a relaxing vacation somewhere.
Exercise - walk, bike, lift weights, stretch.
Diet - cut the refined sugar, cut the salt, eat legumes daily, lots of color on the plate - eat your greens first. Fruits, veggies. Oatmeal daily, berries daily. Nuts - a handful.
Get a regular physical before you get sick.
by Grt2bOutdoors
Thu Feb 22, 2024 6:55 pm
Forum: Investing - Theory, News & General
Topic: investing in private credit through a business development company (Blue Owl)
Replies: 22
Views: 1778

Re: investing in private credit through a business development company (Blue Owl)

Hi, I met with a financial advisor recently and we stated that that we wanted lower risk investments (lower risk than equity-based investments). He pitched https://ocic.com/, which is a business development company that provides the ability to invest in private credit. It seems to provide a return of 8-10%. Does this investment actually match the description (lower risk than equity-based investments, e.g. an S&P 500 ETF)? It is not lower risk, it's an alternative credit platform. Some history on Blue Owl - it is a merged company between a Neuberger Berman affiliate and Owl Rock Capital which was (pre-merger) one of the largest BDC investment managers. The merged company went public via a SPAC. How the BDC differs from traditional bank ...
by Grt2bOutdoors
Thu Feb 22, 2024 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: High Salary (>$500,000) careers
Replies: 244
Views: 28584

Re: High Salary (>$500,000) careers

heisenberg. wrote: Thu Feb 22, 2024 3:05 pm Can’t believe nobody said Investment Banking yet. Clearly they’re too busy working for that salary
Shhh! It's a well-kept secret, you have no life in the first 10 years in that industry.
by Grt2bOutdoors
Thu Feb 22, 2024 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: High Salary (>$500,000) careers
Replies: 244
Views: 28584

Re: High Salary (>$500,000) careers

SubPar wrote: Thu Feb 22, 2024 10:40 am Not me specifically, but partner-level comp in public accounting passes that threshold (and then some). Not totally unrealistic to get there pre-40's with a solid book of business -- a couple of my former colleagues (mid-late 30's) that stayed in public accounting are there.

Our external legal counsel (a partner) is a early 40's and makes well above $500K.

One of my prior roles was at a hedge fund. The analysts cleared >$500K with bonuses. Portfolio managers...way above that.

Edit to add: In each of my anecdotal examples above, there's one common theme: all work a lot.
The bolded amount is my emphasis! Money is important, but realize what you are exchanging for it is more valuable to most.
by Grt2bOutdoors
Thu Feb 22, 2024 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Does stock option exercise create wash sale?
Replies: 18
Views: 1435

Re: Does stock option exercise create wash sale?

Consult a tax professional or consult the actual code.
by Grt2bOutdoors
Wed Feb 21, 2024 6:58 pm
Forum: Personal Investments
Topic: What funds to park inherited UTMA?
Replies: 6
Views: 700

Re: What funds to park inherited UTMA?

Hey all, question about where to park an inherited UTMA account. My son inherited about $100k from a family friend that is currently in an UTMA account until age 25. He’s currently 5. The funds are in the following with Schwab: SWPPX (s&p 500 index): 40% SWMCX (mid cap index): 25% SWPPX (small cap index): 12% SWISX (international index): 10% SNSXX (US treasury Money fund) 9% Cash: 4% It seems like maybe this is too spread out and would be better in a total market index (SWTSX) fund and some bonds? Wondering if I’m over thinking it or just let these funds go for a while with at least a 20 year time horizon and hopefully longer for him. Any insight appreciated. Thanks everyone. Let it ride. If there is no upfront or near term need for ca...
by Grt2bOutdoors
Tue Feb 20, 2024 6:06 am
Forum: Personal Consumer Issues
Topic: Do you use a second refrigerator/freezer?
Replies: 74
Views: 4560

Re: Do you use a second refrigerator/freezer?

I have a separate freezer and a refrigerator/freezer, in addition to my regular fridge/freezer. The reason is yes, we use them both to store what doesn’t fit in the kitchen fridge. I haven’t noticed my electric bill increasing all that much even with the two additional units. We had an older GE model refrigerator that refused to die but used more electricity than the two new ones combined.
by Grt2bOutdoors
Mon Feb 19, 2024 1:02 pm
Forum: Personal Investments
Topic: Investments for 17 & 19 YO Children
Replies: 11
Views: 1322

Re: Investments for 17 & 19 YO Children

What is their time horizon? If they need the money in 1-5 years, then put it in a high yielding money market fund. If they have a 10 year+ horizon then put it in VTSAX. Or put $10k in money market fund and $5k in VTSAX.
by Grt2bOutdoors
Mon Feb 19, 2024 12:52 pm
Forum: Personal Investments
Topic: Am I Missing Anything?
Replies: 16
Views: 1169

Re: Am I Missing Anything?

A couple of minor things. A DAF should not be in your net worth. You no longer own that money. Unvested RSUs should not be in your net worth in my opinion. If they have vested, they are not RSUs but rather company stock. I recommend selling all RSUs when they vest. Use the money to pay bills or invest. It is okay to plow all new money in VTI. You could do worse. You are correct that you should not try to time the market. Invest the money according to your asset allocation (AA) when you get the money. Thanks. Fair points on net worth calculations. I sell all RSUs when they vest. Do you have any thoughts on my asset allocation for geography / size? Am I correct in assuming if I buy VTI I am just furthering the allocation that I have now, rig...
by Grt2bOutdoors
Mon Feb 19, 2024 12:42 pm
Forum: Personal Consumer Issues
Topic: Life skills and resources
Replies: 9
Views: 1392

Re: Life skills and resources

Your local public library has real hardcover and softcover books on Home Economics, automotive, cooking, baking, personal finance.

I started reading about mutual funds back in the 1980’s, when my friends were up to no good - I was reading about dollar cost averaging in the public library. I had no money at the time and for a good while longer but applied those lessons when I got a part time job in college.
by Grt2bOutdoors
Mon Feb 19, 2024 12:36 pm
Forum: Personal Investments
Topic: Let me retire! Please?
Replies: 62
Views: 8073

Re: Let me retire! Please?

Suze Orman says “approved”!! If you can’t retire on $5.1 million, no one can. You’ll have flexibility - if you choose not to take the cost of living inflation adjustment - say take 1/2 of it instead of 1:1 you build even more of a buffer into your saving.

Enjoy your retirement!!
by Grt2bOutdoors
Sat Feb 17, 2024 9:20 pm
Forum: Personal Investments
Topic: The Surprising Return of Interest
Replies: 68
Views: 8877

Re: The Surprising Return of Interest

Not surprised, given that the Fed had been raising rates pretty much all of last year. I fully expected to get my returns from both capital and income.
by Grt2bOutdoors
Sat Feb 17, 2024 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Working Cushy job now, offered promotion to another dept. Stay put or make the jump over?
Replies: 32
Views: 2816

Re: Working Cushy job now, offered promotion to another dept. Stay put or make the jump over?

Gardener wrote: Mon Feb 05, 2024 8:05 am
jebmke wrote: Mon Feb 05, 2024 5:57 am What are your priorities?

It really came to three for me.

One, life balance outside work.
Two, non-financial aspects of job (e.g. challenge …..)
Three, money

Three was always three. I made trade-offs between one and two from time to time.
Great question-

1. Autonomy/Freedom
2. Low Stress/Good Boss
3. Enjoyable work
Stay where you are. If you want more money, you get it from your side hustle - then invest a portion of it in all equity.

Edit: great news about your promotion
by Grt2bOutdoors
Sat Feb 17, 2024 7:33 am
Forum: Personal Investments
Topic: TSP Allocation and Strategy
Replies: 51
Views: 4284

Re: TSP Allocation and Strategy

Annuities always look good but once you past a few years and inflation starts eating away at it, those numbers will not look so good. I have money in my TSP and just got an estimate for an annuity but for some reason my numbers assuming I am 67 which is still 6+ years away so be careful of that. I have spent a lot of time looking at annuities (fixed/immediate SPIAs) and they look good at first but down the road they don't look as good due to inflation. I have heard from some other retirees who do like having a constant stream of money and have bought several smaller annuities so it does provide some stress free income. Using 100% C is not without its risks. Years like 2023 it looks good, years when the market drops 20% it doesn't look so h...
by Grt2bOutdoors
Sat Feb 17, 2024 6:53 am
Forum: Personal Finance (Not Investing)
Topic: Social Security -- What’s in Your Retirement Plan?
Replies: 47
Views: 3626

Re: Social Security -- What’s in Your Retirement Plan?

windaar wrote: Fri Feb 16, 2024 5:09 pm
GAAP wrote: Fri Feb 16, 2024 4:53 pm As a counterpoint, my uncle claimed at 62. He's now 93, and regrets not waiting.
Taking and putting those 8 first years of SS into the market for 30 years would have been a better idea than waiting until 70.
Most who are taking it sooner rather than later are doing so because they actually need the money to live, otherwise they would be in worse financial shape.
by Grt2bOutdoors
Sat Feb 17, 2024 6:51 am
Forum: Personal Consumer Issues
Topic: Any recommendation of a book that chronicles the downward spiral of an ordinary person
Replies: 102
Views: 9199

Re: Any recommendation of a book that chronicles the downward spiral of an ordinary person

Valuethinker wrote: Fri Feb 16, 2024 8:30 am Another film in this genre which I think was a classic was Michael Douglas in Falling Down. The hero's life unravelling.
Myself and my friends thought it was a take on how society has fallen down with rampant disregard for others and Michael Douglas is the vigilante who begins to even the playing field for those oppressed by callous unfeeling behavior.
by Grt2bOutdoors
Sat Feb 17, 2024 6:43 am
Forum: Personal Consumer Issues
Topic: How to get my road paved
Replies: 77
Views: 5849

Re: How to get my road paved

Is there no alternative method of reaching your destination?
Have you called your local department of transportation and inquired what could be done about it?
by Grt2bOutdoors
Fri Feb 16, 2024 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- What’s in Your Retirement Plan?
Replies: 47
Views: 3626

Re: Social Security -- What’s in Your Retirement Plan?

I apologize in advance if this question has already been discussed, but I did not find anything on this specific topic. Most people think that some day some kind of adjustment will need to be made to Social Security benefits, whether they will be reduced, fully taxed, eliminated for wealthy people, etc. Based on these unknowns, what are your thoughts about claiming benefits sooner than later just in case? I am 61 and my husband is 59 – both still working full time. It is possible that we could both retire at 62 if we started claiming Social Security. The “cautious me” thinks we should wait until age 70, but the cynical me thinks we should take it ASAP. I am also interested in thoughts from the younger Bogleheads who may be affected more. I...
by Grt2bOutdoors
Thu Feb 15, 2024 10:43 pm
Forum: Personal Consumer Issues
Topic: Any recommendation of a book that chronicles the downward spiral of an ordinary person
Replies: 102
Views: 9199

Re: Any recommendation of a book that chronicles the downward spiral of an ordinary person

Beensabu wrote: Thu Feb 15, 2024 10:13 pm
SwiftKey wrote: Thu Feb 15, 2024 10:01 pm I like the novel version of Daniel Keyes’ Flowers for Algernon (1966)
Do NOT. I repeat, do NOT read "Flowers for Algernon" if you haven't already. Don't do that to yourself. You'll be depressed for years. Decades. The rest of your life.
Was subjected to reading this work of literature in middle school - a rather sad story to read as a young teenager about a fellow who becomes quite intelligent, developing normal relationships only to enter into that downward spiral leading to his ultimate demise while affecting those who surrounded him.

Not on my most recommended reads.
by Grt2bOutdoors
Tue Feb 13, 2024 2:29 pm
Forum: Investing - Theory, News & General
Topic: Understanding 4% rule
Replies: 41
Views: 3883

Re: Understanding 4% rule

In 1995, the 4% Rule was far better than all of the previous unresearched spending suggestions from famous mutual fund managers. 4% SWR was the first of the thoroughly researched spending plans, so salute Bengen for his pioneering work, then use a plan that annually adjusts each year's withdrawal amount to your most recent annual portfolio value. The certainty of spending an inflation buffered amount for 30 years without ever considering your recent portfolio value, sounds attractive but that method has both the risks of overspending and under-spending. My father was in the 1968 cohort who would have gone broke if he had blindly used 4% SWR. The opposite can also be true. A few, lucky 4% SWR retirees would have too much left over if they d...
by Grt2bOutdoors
Mon Feb 12, 2024 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Should I say no to my first federal job?
Replies: 65
Views: 7477

Re: Should I say no to my first federal job?

the_wiki wrote: Mon Feb 12, 2024 2:04 am Do you want to stay married?

You likely won’t if you move to another state.
You'd better listen to this sound advice.
by Grt2bOutdoors
Sun Feb 11, 2024 12:51 pm
Forum: Personal Investments
Topic: Do Bogleheads "Buy the Dip"?
Replies: 136
Views: 12632

Re: Do index investors "Buy the Dip"?

csr wrote: Sun Feb 11, 2024 12:20 pm
Grt2bOutdoors wrote: Sat Feb 10, 2024 9:15 pm All these trades - I hope this isn't in a taxable account where you have to file returns, you'll have alot of disallowed wash sales, buying and selling before the 30 day window expires.
That's what day traders do intraday all day every day in a taxable account.
Traders are making a special tax election most likely, unlike an individual.
by Grt2bOutdoors
Sun Feb 11, 2024 11:50 am
Forum: Personal Investments
Topic: Should my 21-year old nephew fire his financial advisor?
Replies: 99
Views: 10668

Re: Should my 21-year old nephew fire his financial advisor?

Thanks for your comments. After reviewing the comments, I spoke with my sister and she told me that her son inherited $200,000 from a wealthy aunt 19 years ago and the money was put into a guardianship (until age 18). The attorney selected the financial advisor. My sister contacted me after she received her son's January 2024 financial statement which showed a $290 loss. My nephew is currently taking college courses and he lives at home. He has no earned income, no expenses, drives a used car, and he is very frugal (a family trait). He has read several books on investing, and he never looks at the account. While there is a fiduciary duty to protect the minor, the attorney failed to fully grasp the meaning of fiduciary but understandably wa...
by Grt2bOutdoors
Sun Feb 11, 2024 11:33 am
Forum: Personal Investments
Topic: Starting young - teaching a 5 and 7 yo about investing
Replies: 9
Views: 717

Re: Starting young - teaching a 5 and 7 yo about investing

Doctor Rhythm wrote: Sun Feb 11, 2024 10:45 am Age 5 - teach them not to be selfish, that they can’t always have what they want, and to delay gratification. Do this by example.

Then, at age 6, they can learn about the efficient frontier.
I hope you are joking about the efficient frontier at age 6. The only frontier the kids should learn about is the national parks at that age.
by Grt2bOutdoors
Sun Feb 11, 2024 11:31 am
Forum: Personal Investments
Topic: Starting young - teaching a 5 and 7 yo about investing
Replies: 9
Views: 717

Re: Starting young - teaching a 5 and 7 yo about investing

My partner is going to start teaching his kids (5.5 and 7.5 years old) about money and investing. Their grandma sends them $5 bills on a weekly basis and since my partner pays for everything, they never spend the cash. He has opened up accounts for them through his Charles Shwab and wants to invite them to deposit grandma’s weekly $5, with a $1 match for every deposit made. He wants to show them how it will grow if invested in something that generates interest. He is also thinking about opening a 529 for them His main question is: when your kids are young and you’re divorced, what is the best way to both help them save for future expenses and learn about money, as well as save for college? Take the kids shopping, no really! Take them shopp...
by Grt2bOutdoors
Sat Feb 10, 2024 9:15 pm
Forum: Personal Investments
Topic: Do Bogleheads "Buy the Dip"?
Replies: 136
Views: 12632

Re: Do index investors "Buy the Dip"?

I’m confused. You sold BND and bought it the next day. You didn’t know the price would drop. How is this not marketing timing? I sold BND in order to raise cash to buy AVUV. I did not expect BND to drop 1%. I had no expectation of what BND was going to do. Then since BND dropped 1% the next day (a big drop for a bond fund), I was compelled by my IPS to buy BND, So I looked in my portfolio for how to raise cash to buy BND. Conveniently VTI was up more than 1% at the same time that BND was down more than 1%, so I sold some VTI to get the cash to buy BND. If you want to call it market timing, then that's perfectly OK with me. But don't forget that with bona fide Market Timing on bogleheads.org one is supposed to lose money. Since I made money...
by Grt2bOutdoors
Sat Feb 10, 2024 8:47 pm
Forum: Personal Investments
Topic: Should my 21-year old nephew fire his financial advisor?
Replies: 99
Views: 10668

Re: Should my 21-year old nephew fire his financial advisor?

Fire the advisor. Pure incompetence and self-serving financial advisor looking to earn income for himself. While I don't know the needs of the 21-year old nephew, a 2-Fund or 3-Fund portfolio allocated appropriately could provide growth, income and stability for a fraction of the cost with most of the returns accruing to the nephew. Those Unit Trusts - they come with sales loads, why they placed your nephew in an options strategy fund that caps returns is beyond me. Time in the market, not market timing, yet the advisor is playing market timer. No reason to be in gold/mining stocks, options strategy capped fund, and a short duration income fund. The gold fund is down more than 10% ytd while the broad market is up 4%. Recommend two books for...
by Grt2bOutdoors
Sat Feb 10, 2024 8:40 pm
Forum: Personal Investments
Topic: Retiring at 60. Will I go bust before 80?
Replies: 25
Views: 5342

Re: Retiring at 60. Will I go bust before 80?

1. What happens at age 80?

2. You will be cutting it very close between bust and success. Assuming the account grows to $200K at age 60, then you are withdrawing $22K for each of the next two years - you are banking on there is no downturn in the markets for which no one knows if the direction will be up or down. Assuming the markets are flat, the account goes down to $160K, if markets decline you will wind up with a lot less. I'm leaning towards bust.

3. Any possibility of taking a part-time job to age 65?
by Grt2bOutdoors
Fri Feb 09, 2024 6:44 am
Forum: Personal Consumer Issues
Topic: Birthday gift for kids at 13
Replies: 32
Views: 2579

Re: Birthday gift for kids at 13

livesoft wrote: Fri Feb 09, 2024 6:42 am Their first smartphone and a checking account.
Fidelity youth account - not sure if they are still offering the put $50 in and they will match it, comes with a debit card.
by Grt2bOutdoors
Fri Feb 09, 2024 6:03 am
Forum: Personal Consumer Issues
Topic: Birthday gift for kids at 13
Replies: 32
Views: 2579

Re: Birthday gift for kids at 13

Experiences, cash, birthday party at home with family, a cake with candles.