Search found 197 matches

by gsmith
Tue Jun 12, 2018 2:29 am
Forum: Personal Finance (Not Investing)
Topic: death certificates...hospice and 911
Replies: 32
Views: 2893

Re: death certificates...hospice and 911

coffeehubcap wrote:
Mon Jun 11, 2018 5:09 pm
If you die at home and call 911 who issues the death certificate? If you're in hospice who issues the death certificate.
In IL, the funeral home enters the biographical information in, and a doctor (either the PCP, hospice, or nursing home doctor), can enter the cause of death and e-sign.
by gsmith
Sun Apr 08, 2018 12:42 am
Forum: Investing - Theory, News & General
Topic: Help Me Make The Case Against Online Trading Academy
Replies: 33
Views: 2574

Re: Help Me Make The Case Against Online Trading Academy

I've had friends who are convinced they are superheros on Forex/SP500 hedging/real estate due to some expensive class, and once they announce they are no longer interested in BH, I wish them luck and quickly turn the conversation. Even if you are correct, you will lose his friendship, as you're doub...
by gsmith
Fri Apr 06, 2018 4:00 am
Forum: Investing - Theory, News & General
Topic: Excess Returns in Alternatives?
Replies: 4
Views: 759

Re: Excess Returns in Alternatives?

]Main problem to me is informational asymmetry. And absence of diversification of risk. This is akin, to me, to single stock risk, or investing in a bond issued by a single corporation. There's an excellent book "The Salad Oil Swindle", about how American Express nearly went bankrupt lending money ...
by gsmith
Thu Apr 05, 2018 9:26 pm
Forum: Investing - Help with Personal Investments
Topic: Are Callable CD's For Real?
Replies: 6
Views: 718

Re: Are Callable CD's For Real?

The 17% is more then likely a scam, but a Callable CD is a FDIC insured deposit. (if this was anAamerican bank) It's a regular CD, but it gives the bank the right to redeem it when interest rates plummet. The bank would give you back your deposit, and then turn around and borrow money at a lower rat...
by gsmith
Thu Apr 05, 2018 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: LLC: how much attorney involvement?
Replies: 7
Views: 647

Re: LLC: how much attorney involvement?

If I used templates from the book, would an attorney need to review them each time? Maybe just "big"/potentially tricky ones like purchasing property? The attorney will likely recommend his template. Spirit Rider is spot on. The insurance company you hire will be providing the attorneys that will d...
by gsmith
Thu Apr 05, 2018 4:02 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA for inheritance (with a snag?)
Replies: 17
Views: 751

Re: Roth IRA for inheritance (with a snag?)

Thank you all for this good information, delivered quickly to boot! NOW I understand that first and foremost, one needs to be converting from a tIRA or have earned income in order to do this. :oops: I didn't know. That's why this forum is so helpful. I've gone on a few junkets who hype Roth IRAs, b...
by gsmith
Thu Apr 05, 2018 3:37 pm
Forum: Investing - Theory, News & General
Topic: Roth IRA for inheritance (with a snag?)
Replies: 17
Views: 751

Re: Roth IRA for inheritance (with a snag?)

There are several "5 year rules" which makes it confusing, but there is a 5 year rule for inherited Roth IRAs converted from traditional IRAs. Fortunately, it's not nearly as onerous as interpreted in this thread. See https://www.rothira.com/roth-ira-5-year-rule If the decendant passes within 5 year...
by gsmith
Wed Apr 04, 2018 3:19 am
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge over-transferred money from Vanguard
Replies: 1
Views: 336

Re: Merrill Edge over-transferred money from Vanguard

ACATS, the process used to transfer securities between brokerages, stays open until settlement, so the transfer of proceeds from the sale of the refused security to Merrill Edge was automated. Most likely, the easiest thing is to call Vanguard, explain the issue, and have them accept a wire from you...
by gsmith
Fri Mar 30, 2018 12:38 am
Forum: Investing - Help with Personal Investments
Topic: Investing 150k of law school tuition
Replies: 7
Views: 861

Re: Investing 150k of law school tuition

Since the goal is less then five years, the prudent move is to invest in bonds/tbills/CD ladders. (assuming $150k will be enough to meet her objective). A quick warning, I've spoken to many attorneys in my day job, and most are unhappy with their occupation, the last telling me "If your daughter is ...
by gsmith
Fri Mar 23, 2018 1:27 am
Forum: Investing - Help with Personal Investments
Topic: [Edward Jones Guided Solutions - transfer Roth to Vanguard]
Replies: 7
Views: 826

Re: [Edward Jones Guided Solutions - transfer Roth to Vanguard]

The major problem with most full service brokers isn't just that they are expensive in comparison, it's because they have only need to offer "suitability" investments with high commissions instead of a "fiduciary" obligation to suggest the one in your best interest. There are fees on top of fees, an...
by gsmith
Tue Mar 20, 2018 10:46 am
Forum: Investing - Help with Personal Investments
Topic: Is buying $50,000 worth of TSLA at this time advisable?
Replies: 46
Views: 3639

Re: Is buying $50,000 worth of TSLA at this time advisable?

Speaking as a TSLA shareholder who's position nearly doubled in value, I would say you are investing in the vision of Elon Musk and his health. It is unlikely that like Nicola Tesla or Jeff Bezos, Elon would compromise his vision for short term shareholder value. Just a few years ago, the CNBC crowd...
by gsmith
Tue Mar 06, 2018 8:18 pm
Forum: Investing - Theory, News & General
Topic: Crypto Index Fund
Replies: 26
Views: 2233

Re: Crypto Index Fund

Perhaps. I still view it as a very patriarchal move on their part. They have no problem with non-accredited investors going to a casino and putting it all on red, yet they will not allow these same people to purchase a number of at least passingly reasonable investments. You should interpret "only ...
by gsmith
Thu Mar 01, 2018 1:40 am
Forum: Investing - Theory, News & General
Topic: Does the JOBS act make being a landlord obsolete?
Replies: 12
Views: 2150

Re: Does the JOBS act make being a landlord obsolete?

Levels: 1 REIT > completely passive. A fund. Zero hands on control. Risk unknown. 2 Probably "crowdfunding in this slot. Unanimous investors taking a chance. Zero hands on control for investors except for the "hands on person". Very limited return. High risk. 3 "Hui" (in Hawaiian) or group of folks...
by gsmith
Tue Feb 27, 2018 1:51 pm
Forum: Personal Consumer Issues
Topic: Dealership oil change worth it?
Replies: 69
Views: 5339

Re: Dealership oil change worth it?

Nearly half of the dealership's revenue comes from Service. It's so bad, the service department subsidizes the new car price. Elon Musk (Tesla) has been quoted several times saying "I think it’s terrible to make a profit on service", and aimed to make Tesla's service department to be revenue neutral
by gsmith
Mon Feb 19, 2018 9:20 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversions to shrink RMDs
Replies: 15
Views: 1191

Re: Roth conversions to shrink RMDs

There's also a five year rule that taxes roth conversions, even if the original owner passes away before satisfying the time period.
I believe it only covers earnings, but it wasn't clear to me in my research.
by gsmith
Fri Feb 16, 2018 11:24 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Investors Love Lottery Stocks
Replies: 2
Views: 579

Re: Larry Swedroe: Investors Love Lottery Stocks

One of the most interesting parts working with small businesses is to see risk tolerance diminish. The second generation of ownership often loses the confidence/skills that a startup has to make decisions, out of fear of being perceived as a failure. If one has a well-diversified core portfolio, it'...
by gsmith
Tue Feb 13, 2018 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 7103

Re: Should I claim chapter 7 bankruptcy? debt 110k

I find the moralizing in this thread uncharacteristic of the forum. I agree with SmallSaver. The "moral hazard" argument has already bolted. Somehow OP's broker decided to give super-amplified casino chips, and OP blew up. I'm just going to leave this image describing the standard of living causing...
by gsmith
Tue Feb 13, 2018 2:26 am
Forum: Investing - Help with Personal Investments
Topic: UGMA vs UTMA vs Vanguard Confusion
Replies: 6
Views: 733

Re: UGMA vs UTMA vs Vanguard Confusion

UTMA/UGMA offers the least amount of control; it can't be spent on essentials and they have the right to do whatever they wish at age of majority. That could be wasted, or even harmful if they're not prudent. If you're going to go this route, you might want to ask the parents to "hire" their child.....
by gsmith
Mon Feb 12, 2018 11:32 pm
Forum: Investing - Help with Personal Investments
Topic: realized startup equity / schwab private client
Replies: 15
Views: 1036

Re: realized startup equity / schwab private client

The questions have really been answered, but I just wanted to leave this link here WSJ:Advisers at Leading Discount Brokers Win Bonuses to Push Higher-Priced Products Fidelity representatives are paid 0.04% of the assets clients invest in most types of mutual funds and exchange-traded funds. They ea...
by gsmith
Mon Feb 12, 2018 9:08 pm
Forum: Investing - Help with Personal Investments
Topic: From EJ to Vanguard to Schwab
Replies: 21
Views: 2186

Re: From EJ to Vanguard to Schwab

Just another post expressing empathy about dealing with bad transfers Fidelity's site will show you a preview of the ACAT request before they send it. As some advice, Schwab/Fidelity will sometimes reimburse you the costs of transferring money if your balance is large enough. As painful as it was, k...
by gsmith
Mon Feb 12, 2018 3:32 am
Forum: Personal Finance (Not Investing)
Topic: Seeking career advice - Software Engineer
Replies: 34
Views: 3047

Re: Seeking career advice - Software Engineer

A couple points - You might be able to leverage your skills with their vendors if there's a healthy ecosystem... If you enjoy and know their ERP's API, you might be able to be an easy sell for a recruiter for the same responsibilities without the drama. - If the company uses outdated tech, the more ...
by gsmith
Mon Feb 12, 2018 3:12 am
Forum: Personal Finance (Not Investing)
Topic: Deciding to Buy Rental Property - Need Advice
Replies: 16
Views: 2080

Re: Deciding to Buy Rental Property - Need Advice

Having tried the landlord/rehab The "why" part is to continue to better our lives and look for additional income streams With respect. I have tried to play landlord at my peril, and I just wanted to include some warnings... - BHs don't like fees, but when buying you will be paying at least half of a...
by gsmith
Mon Feb 12, 2018 2:51 am
Forum: Investing - Help with Personal Investments
Topic: Wunder Capital - solar lending as an investment - Thoughts?
Replies: 3
Views: 394

Re: Wunder Capital - solar lending as an investment - Thoughts?

This is just one of the many high yield instruments that will separate your money from you eventually. When the yield is very high then you know the principle value is extremely unstable. There is no free lunch. :shock: The requirement for a highly accredited investor means the investment is exempt...
by gsmith
Mon Feb 12, 2018 2:45 am
Forum: Personal Finance (Not Investing)
Topic: Accidental Rollover of after tax contributions to a traditional IRA (thread 2)
Replies: 2
Views: 214

Re: Accidental Rollover of after tax contributions to a traditional IRA (thread 2)

Right, you now have a traditional IRA with non-deductable contributions. You can either: A: Do as you propose, and any earnings will be taxed at your tax bracket on distribution. B: Convert the Traditional IRA with a cost basis to a Roth IRA, pay taxes on the conversion amount minus $9000, and enjoy...
by gsmith
Mon Feb 12, 2018 2:38 am
Forum: Investing - Theory, News & General
Topic: I think US interest rates could drop.
Replies: 62
Views: 7203

Re: I think US interest rates could drop.

Currency hedged, the rates are comparablein both directions. Also, the end of quantitative easing is a known unknown in that it having an effect in some way is almost guaranteed but how that effect spirals out remains to be seen. I would agree with Theoretical... we are possibly coming out of an ad...
by gsmith
Mon Feb 12, 2018 2:03 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard advice--I'm confused
Replies: 30
Views: 4007

Re: Vanguard advice--I'm confused

Thanks for the input. So I should not be freaked out buying over $400,000 in bond funds right now? You may or may not freak out... here are some differences that you should know ahead of time A bond has different types of risks, some of which are comparable to a CD - Interest Rate Risk/Inflation. -...
by gsmith
Mon Feb 12, 2018 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Bank offering 0.25% off mortgage interest for asset transfer
Replies: 24
Views: 2411

Re: Bank offering 0.25% off mortgage interest for asset transfer

Toward the end of the hour, he finally told me that I would pay a $50 per transaction fee if I moved my TRP account in kind into a self-directed account at Chase and kept the funds invested in TRP! There are a couple things my Chase advisor told me. - Chase calls non-managed accounts "Self-Directed...
by gsmith
Sun Feb 11, 2018 2:29 am
Forum: Personal Consumer Issues
Topic: SSD + HDD good option for upgrading desktop PC?
Replies: 74
Views: 10039

Re: SSD + HDD good option for upgrading desktop PC?

The other neat trick the Mac has is called a Fusion drive. It is just a small-medium SSD combined with an ordinary large capacity drive. The system software keeps the system and recent files on the SSD, but migrates older files to the larger drive over time. 99% of the time it acts just like a larg...
by gsmith
Wed Feb 07, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 288
Views: 21770

Re: free dinner investing seminar

I have never been to any free dinner investing seminar. If your friend reports to his experience on Bogleheads , it will be my privilege to donate $100 to Bogleheads. So i don't know if this counts, but this happened when I was 16. One day my mom gets a call from a telemarketer whishing her a happy...
by gsmith
Wed Feb 07, 2018 10:31 pm
Forum: Investing - Theory, News & General
Topic: How to short TSLA?
Replies: 50
Views: 2973

Re: How to short TSLA?

Seeing option trading advice on Bogleheads is like watching the leaders of a temperance movement take shots of whiskey. You want to see if they can hold their liquor and if so straying from "staying the course" more then they'd admit. Both shorting stocks and options are forms of leverage; the finan...
by gsmith
Wed Feb 07, 2018 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Would You Recommend Living Revocable Trusts? Married, Retired, No Kids.
Replies: 10
Views: 1432

Re: Would You Recommend Living Revocable Trusts? Married, Retired, No Kids.

The living trust is really great for FDIC insurance limits, as you can have $1.25 million insured at the same bank if titled correctly.
See https://www.fdic.gov/deposit/covered/trust.html
by gsmith
Wed Jan 24, 2018 4:27 am
Forum: Investing - Theory, News & General
Topic: Importance of FDIC Insurance
Replies: 17
Views: 1620

Re: Importance of FDIC Insurance

I have done a lot of research on this topic, and hopefully it might be of help.... Short Answer: It's not the end of the world if you don't have it, but it's easy enough to get that you should. First point: FDIC treats each benefitiary of a Living Trust as a depositor, so a living trust that gives $...
by gsmith
Fri Jan 12, 2018 4:40 am
Forum: Investing - Help with Personal Investments
Topic: Inherited retirement
Replies: 8
Views: 1658

Re: Inherited retirement

There are a couple quirks with 401ks, that allow you some options IRAs don't already have. - If the stock has appreciated greatly, you might be able to take advantage of *Net Unrealized Appreciation (NUA)".* - You may have the opportunity to ask for the 401k to convert to a Roth under a little known...
by gsmith
Thu Jan 11, 2018 1:23 am
Forum: Personal Consumer Issues
Topic: more problem with boyfriend's computer
Replies: 9
Views: 1065

Re: more problem with boyfriend's computer

... Phineas has the BEST advice about backups, preferably online service like Mozy. the worst case is ransomware, which means that you'll have to pay a lot of money to have access to your files if someone took over your PC, and that is best protected against by backups. I don't like portable hard d...
by gsmith
Wed Jan 10, 2018 11:30 pm
Forum: Personal Consumer Issues
Topic: more problem with boyfriend's computer
Replies: 9
Views: 1065

Re: more problem with boyfriend's computer

How do you wipe out and install Windows on the old PC? Honestly, I would buy a new PC/laptop, unless I was hurting for money so badly I was going to keep it for 2-3 years, Wiping the PC is very invasive, and everything will need to be backed up, restored and reinstalled. Here are the instructions: ...
by gsmith
Wed Jan 10, 2018 10:23 pm
Forum: Personal Consumer Issues
Topic: more problem with boyfriend's computer
Replies: 9
Views: 1065

Re: more problem with boyfriend's computer

Please forgive me for being blunt, but cybersecurity is like physical security. You don't need to be completely secure, just secure enough to make it hard enough that the burgler goes next door. If you make it too hard, people will find short-cuts that will compromise policy. he doesn't use a passwo...
by gsmith
Wed Jan 10, 2018 2:06 am
Forum: Investing - Theory, News & General
Topic: Memo to those who have won the game: it's time to quit playing
Replies: 211
Views: 20598

Re: Memo to those who have won the game: it's time to quit playing

I just wanted to point out while the SP500 is up 21.26%, the dollar has plummeted in value, and most people have their assets denominated in USD. Viewed from most of the developed world, the SP500 is ~11% 1 yr return, which is normal. USD:MXN: - 11.74% USD-EUR: -11.5% USD-GBP: -9.96% USD-CAD: -5.74%...
by gsmith
Wed Jan 10, 2018 2:03 am
Forum: Investing - Help with Personal Investments
Topic: Anyone tired of the stock market going up?
Replies: 309
Views: 32629

Re: Anyone tired of the stock market going up?

I just wanted to point out while the SP500 is up 21.26%, the dollar has plummeted in value, and most people have their assets denominated in USD. Viewed from most of the developed world, the SP500 is ~11% 1 yr return, which is normal. USD:MXN: - 11.74% USD-EUR: -11.5% USD-GBP: -9.96% USD-CAD: -5.74%...
by gsmith
Tue Jan 09, 2018 7:49 am
Forum: Personal Finance (Not Investing)
Topic: When the rubber hits the road [Progressive Dementia thread with merged updates]
Replies: 106
Views: 8571

Re: The reality hits - my dementia update

Family member was diagnosed with Alzheimers about two years ago, and the changes were very gradual. (As I understand it, dementia is just the formal term for memory loss, and Alzheimers is the diagnosis when doctors are unable to find a physical malady or 80% of most dementia diagnoses) The symptoms...
by gsmith
Mon Dec 25, 2017 2:17 am
Forum: Investing - Help with Personal Investments
Topic: Self Directed IRA investing in real estate partnership?
Replies: 5
Views: 539

Re: Self Directed IRA investing in real estate partnership?

However, I am afraid of the self-dealing rules. Thanks for the input. I would be EXTREMELY careful, and get an opinion from Mary Hart, an attorney who specializes in Self-Directed IRAs.* As you already know, if the IRS challenges you and wins, your entire IRA would be deemed distributed on the day ...
by gsmith
Wed Dec 13, 2017 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp 2553 vs Start a new S-Corp
Replies: 3
Views: 354

Re: S-Corp 2553 vs Start a new S-Corp

You probably will need to ask your CPA/attorney these questions.... Both an LLC and a Corporation can elect for Subchapter S status, so it's not clear what the existing entity is. That said: It takes ~30 minutes, and a couple hundred to start a new LLC and elect to have it taxed as a S-corp, Probabl...
by gsmith
Mon Nov 20, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Lynch wants personal info--How to deal
Replies: 33
Views: 3756

Re: Merrill Lynch wants personal info--How to deal

Merrill is probably gathering info to comply with the know your customer/suitability rules. http://www.finra.org/investors/suitability-what-investors-need-know I’d read “to better serve you” to mean “so I can try to sell you our high fee financial products.” :D Did your MIl have a full service brok...
by gsmith
Mon Nov 20, 2017 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Lynch wants personal info--How to deal
Replies: 33
Views: 3756

Re: Merrill Lynch wants personal info--How to deal

Bank of America/ML has a compliance department that will make the next months/years of your life a living hell if you don't give them the information they want in the form they want it. In an extreme example, if you give them any false information that ML uses to make a decision about you, you could...
by gsmith
Sun Nov 19, 2017 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Southeast Asia trip - Cash handling
Replies: 19
Views: 1593

Re: Southeast Asia trip - Cash handling

One piece of advice about Hotel Safes is don't use them for more then small amounts of money. I forgot the combo for the safe in my room.... Rather then an embarrassing call, it took 30 seconds after watching a 3 minute video on youtube to open the safe. I think going to the ATM and getting a small ...
by gsmith
Fri Nov 17, 2017 10:49 am
Forum: Investing - Help with Personal Investments
Topic: Is it a bad idea to invest several times a month?
Replies: 13
Views: 1486

Re: Is it a bad idea to invest several times a month?

Speaking first hand, I don't think the calculations will be more then an annoyance. Calculating individual stock split cost basis is far worse. However, if your budget is so tight, you might have to dip in to meet expenses or it lowers your quality of life significantly, I would reconsider. You can ...
by gsmith
Mon Nov 06, 2017 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 38
Views: 7354

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

I would upvote Meg77 as the person who's most accurate. While it's not a obvious scam, it's not something I would recommend to anyone but a high net worth investor. You need economies of scale, specialized knowledge, and enough to be diversified in order for these to make sense. - A ponzi would only...
by gsmith
Mon Oct 23, 2017 1:19 am
Forum: Personal Finance (Not Investing)
Topic: Pay Mother's Assisted Living Costs instead of selling her condo, since I'm the beneficiary?
Replies: 6
Views: 1168

Re: Pay Mother's Assisted Living Costs instead of selling her condo, since I'm the beneficiary?

As others have mentioned, you will have all the expenses of a 2nd home as an ongoing basis: - Condo Assn - Property Taxes - Inability to get insurance for vacant home - Gas/Electric (enough for winterizing) Because it's a condo, it is unlikely the condo association will let you rent it out if other ...
by gsmith
Wed Oct 18, 2017 3:35 am
Forum: Investing - Theory, News & General
Topic: The overselling of international diversification
Replies: 56
Views: 6118

Re: The overselling of international diversification

Let's say I was a domestic Boglehead, who was sold on tax efficient investing, and minimum expenses. Can someone make the case for international? I imagine the "efficient market theory" that BH depends on doesn't apply internationally, especially to developing countries where transparency, rule of l...
by gsmith
Wed Oct 18, 2017 2:23 am
Forum: Personal Finance (Not Investing)
Topic: Help Me Think About Roth Conversions and Retirement?
Replies: 17
Views: 2049

Re: Help Me Think About Roth Conversions and Retirement?

Two random thoughts: The earnings of conversions take time to overcome the initial tax penalty, especially if you're indexing. When I was considering a conversion I ran 3 scnarios 1. Keep everything in a Traditional IRA, and do RMDs based on tax rates including SS income, proceeds to buy and hold in...
by gsmith
Sat Sep 09, 2017 12:11 am
Forum: Personal Finance (Not Investing)
Topic: Guaranteed 7% Real Estate Deal: Pull from Stock Market?
Replies: 36
Views: 4536

Re: Guaranteed 7% Real Estate Deal: Pull from Stock Market?

First post here, but wanted to jump in since I am in the institutional RE business. These types of deals have lots of risk which need to be understood. If this is a leveraged deal and you are in the equity, ie behind the construction loan, 7% in no way compensates you for the risk you are taking. T...