Search found 3410 matches

by afan
Wed May 23, 2018 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs after college and before graduate/medical school -- Are employers okay with you trying different jobs?
Replies: 9
Views: 841

Re: Jobs after college and before graduate/medical school -- Are employers okay with you trying different jobs?

Another perspective: Unless you are doing the most menial possible job, the employer invests some time in training you. Your early time in the job, even after the formal training is over, will not be that productive because you are still figuring out what to do. If someone told me they only wanted t...
by afan
Wed May 23, 2018 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Additional Liability of Getting Married (Protecting Taxable accounts)
Replies: 7
Views: 579

Re: Additional Liability of Getting Married (Protecting Taxable accounts)

A prenup would protect her assets from you in case of divorce. Definitely a good idea in your situation. Umbrella insurance would protect you both from lawsuits that are NOT related to your business or practice. For example, a surgeon could protect her brokerage account from a slip and fall lawsuit ...
by afan
Mon May 21, 2018 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Do we need a trust?
Replies: 16
Views: 2060

Re: Do we need a trust?

And that is yet another example of why you need a real expert. Multiple people funding a special needs trust sounds like a great idea until an estates and trusts attorney points out the problems. Trust income tax rates are much higher and should be avoided by distributing income to beneficiaries. It...
by afan
Mon May 21, 2018 9:14 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Personal Advisory Services vs. Schwab Intelligent Advisory
Replies: 34
Views: 3743

Re: Vanguard Personal Advisory Services vs. Schwab Intelligent Advisory

My spouse, although not obsessed with finance, is quite capable of managing our investments. When old age catches up, we have a younger generation with POA to take over. But if I did need my portfolio managed, I would convert to a balanced fund. This is the same thing that PAS or Intelligent Portfol...
by afan
Mon May 21, 2018 8:33 am
Forum: Investing - Help with Personal Investments
Topic: Newly widowed, how do I invest 1.5 million life ins. proceeds
Replies: 72
Views: 7574

Re: Newly widowed, how do I invest 1.5 million life ins. proceeds

I would not hire anyone to invest your money for you. Investing your money is so simple it would be wasteful to pay for this service. Vanguard's PAS is a good price, compared to the alternatives, but still too expensive. If you deposit that $1.5M into a Vanguard money market fund you will qualify fo...
by afan
Mon May 21, 2018 4:52 am
Forum: Personal Finance (Not Investing)
Topic: Financial times: Wealthfront's experiment in risk parity has a rocky start
Replies: 14
Views: 1748

Re: Financial times: Wealthfront's experiment in risk parity has a rocky start

A couple of months is so short a time for comparing these funds that it is pointless. Get back to this in 10 years or so. I tend to agree with this. How many people on this forum would just throw their hands up in the air and abandon the Three Fund Portfolio just because it had a few losing months?...
by afan
Mon May 21, 2018 4:32 am
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's Disease, Long Term Care, and your Retirement Finances
Replies: 55
Views: 5039

Re: Alzheimer's Disease, Long Term Care, and your Retirement Finances

We use "both end up in nursing homes for decades" as one of the stress tests for our retirement planning. I have priced some good CCRCs in our area and use these as the cost. Expensive. But if both were living in such a community we could sell our house (or have it sold under our POA if cognitive pr...
by afan
Sun May 20, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Trusts and Bank Accounts
Replies: 17
Views: 1112

Re: Trusts and Bank Accounts

Not a solution to your problem, but when we did our most recent round of estate planning, our lawyer told us not to have our day to day checking account in the trust. She said it would lead to hassles. We did not get into details, but I assume this is what she was talking about. You might try avoidi...
by afan
Sun May 20, 2018 8:37 am
Forum: Investing - Theory, News & General
Topic: Has Firecalc or I-ORP altered your retirement plans?
Replies: 35
Views: 3690

Re: Has Firecalc or I-ORP altered your retirement plans?

Bumping this thread with another question about IORP. I tried running it today and it simply returned an error. As you can see above, in the past I found it was not designed to address my situation and I was concerned that it would give a result that was wrong, but with no warning. So it is possible...
by afan
Sat May 19, 2018 12:41 pm
Forum: Investing - Theory, News & General
Topic: Fee transparency in private equity
Replies: 9
Views: 578

Re: Fee transparency in private equity

Hard to know why a 401k would have a PE option. Perhaps some influential person wanted to invest in it and had to make it available across all employees? Perhaps undue influence of the fund operators on the company or 401k custodian? The most I would do is push for a clear statement of fees. I don't...
by afan
Fri May 18, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Would you send your children to private school in my situation?
Replies: 93
Views: 5970

Re: Would you send your children to private school in my situation?

There is no answer to "public vs private." There might be an answer to a particular public school vs a particular private school for your kids. This depends on the resources, the socioeconomic status and particularly the educational level of the parents who send their kids to these schools, and the ...
by afan
Fri May 18, 2018 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Financial times: Wealthfront's experiment in risk parity has a rocky start
Replies: 14
Views: 1748

Re: Financial times: Wealthfront's experiment in risk parity has a rocky start

A couple of months is so short a time for comparing these funds that it is pointless. Get back to this in 10 years or so.
by afan
Fri May 18, 2018 5:02 am
Forum: Personal Finance (Not Investing)
Topic: Surgeon salary vs owning a business salary/profit?
Replies: 47
Views: 3986

Re: Surgeon salary vs owning a business salary/profit?

There is a huge range of income among surgeons. Depends on the field, the location, success in attracting patients and the whims of reimbursement. But to make that kind of money one would be busy practing surgery. Most surgeons love the clinical work. If you can imagine yourself.being just as happy ...
by afan
Fri May 18, 2018 4:58 am
Forum: Investing - Theory, News & General
Topic: Should I invest in a hedge fund?
Replies: 3
Views: 883

Re: Should I invest in a hedge fund?

Ackman is a billionaire assuming he did not leave all his money in Pershing.
The message is clear- you should not invest in a hedge fund, you should start one.
by afan
Thu May 17, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: The Executor's Duties
Replies: 13
Views: 1153

Re: The Executor's Duties

Well, the legal fees are legitimate debts of the estate. You would have to pay them to make sure you did not give to the heirs money that was owed to someone else. If you charge a fee as executor then you would also pay yourself under the same logic. The heirs, including you, would get whatever divi...
by afan
Thu May 17, 2018 9:50 am
Forum: Investing - Theory, News & General
Topic: Philly.com: Bogleheads say Vanguard's hybrid robo-advisor can be great training
Replies: 11
Views: 1748

Re: Philly.com: Bogleheads say Vanguard's hybrid robo-advisor can be great training

My understanding was that you DO get your own advisor if assets are >$500,000. Not that having your own advisor is of any more value than having your own Flagship rep. You need advice from a competent person. It does not matter whether it is the same person every time. Probably better if it is not. ...
by afan
Tue May 15, 2018 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 9
Views: 1131

Re: Executor - Vanguard

Hoping Gill will comment, but I think serving as executor, for a price, is something corporate fiduciaries usually do. It is just Vanguard that will not do it. POA is another matter. If I did not have an individual I could trust and the need would be at some undefined time in the future I would prob...
by afan
Tue May 15, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 9
Views: 1131

Re: Executor - Vanguard

The problem comes when there are retirement assets. There is no way to get them into the trust will the grantor is alive. That means someone would need to serve as attorney in fact if the person cannot or does not want to manage the retirement funds themselves. I could understand someone wanting the...
by afan
Tue May 15, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

Given how hard it can be to reliably find an expert estate planning attorney, I would hate to leave my heirs in a situation where there was something complicated they had to do during a limited time frame, buried somewhere in a mass of legalese. The heirs might not realize there was a decision to ma...
by afan
Mon May 14, 2018 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Can co-executor appoint an acting co-executor?
Replies: 7
Views: 570

Re: Can co-executor appoint an acting co-executor?

Not a lawyer at all and I don't know Washington law, but Usually the executor is appointed by the probate court. A will can name the person the testator wanted to be executor, but the court has to do it. (Disclaimer again, maybe I am wrong about this, or there is some exception, or Washington is dif...
by afan
Mon May 14, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Executor - Vanguard
Replies: 9
Views: 1131

Re: Executor - Vanguard

Vanguard says on their site that they will not serve as executor.
I have not seen them comment directly on POA, but others have said they do not do this.

On such a question I would take Gill's word as authoritative.
by afan
Mon May 14, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to define "rich"?
Replies: 32
Views: 2240

Re: Best way to define "rich"?

$100 M and be able to give away $1M a year. Anything less than that is not rich. So it's not useful for me at all. Just something to dream about. I get the same figure, $100M, but by a different route. I define rich as "able to spend lavishly, without working, with no realistic concern of ever runn...
by afan
Sun May 13, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 776

Re: Qualified Trusts and Special Needs

JBTX,

Interesting questions for speculation among us non-attorneys. To handle this is in the real world you need a bsteiner level lawyer.
by afan
Sun May 13, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

It's the other way around. A marketing-oriented lawyer came up with a design where you start with a conduit trust, but someone has a 9-month window to opt to turn it into an accumulation trust. I don't think this makes any sense. To begin with, I think conduit trusts rarely make sense, for the reas...
by afan
Sun May 13, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

It is certainly doable. The problem is what moving it into a trust accomplishes. In general it is difficult for people to establish trusts for themselves as beneficiaries and maintain asset protection. The domestic and foreign asset protection trusts try to do this with lawyers debating how well the...
by afan
Sun May 13, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4696

Re: Advice on building a timeless mens wardrobe?

Original Poster Here. Very grateful for the quality of responses here. I'm going to sit down today and inventory what I have and what I want to add to complete my wardrobe. Amateur question about button down shirts and clothes in general. Do I simply purchase a shirt or whatever article of clothing...
by afan
Sun May 13, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

Then the lawyer's involvement was part of mutual back scratching with no money changing hands among the team?
by afan
Sun May 13, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4696

Re: Advice on building a timeless mens wardrobe?

If you choose to go for the close fitting style, recognizing that it is at an extreme and will not last, then there are athletic cuts available for suits. That will get people who are muscular and in shape closer than a typical off the rack. Or made to measure, which is more expensive. Or bespoke, w...
by afan
Sun May 13, 2018 9:25 am
Forum: Personal Finance (Not Investing)
Topic: California folks - Will/trust still needed with POD & TOD?
Replies: 12
Views: 1182

Re: California folks - Will/trust still needed with POD & TOD?

I imagine there can be situations simple enough that DIY is fine. They would probably apply when you did not really care what happened at your death: no human heirs, any assets to go to a charity, let them figure it out. With a spouse there are enough complications that I would want more certainty. ...
by afan
Sun May 13, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4696

Re: Advice on building a timeless mens wardrobe?

I can imagine valuing a belt’s materials, workmanship, or aesthetic beauty, I suppose. Maybe, barely. I mean. It is a belt. There are billions of belts in the world. What is the big deal? But even if I could stretch to appreciating the object itself, somehow above the billions of other pencils in t...
by afan
Sun May 13, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4696

Re: Advice on building a timeless mens wardrobe?

Afan, I believe in not buying junk, made in a sweatshop, and replacing it every few years. I don't have the money to be a wasteful consumer, nor do I buy the costly short-lived gadgets stacked up in Costco. Nor fancy wheels for a fancy SUV. If buying something made by a craftsman, in America for a ...
by afan
Sun May 13, 2018 8:06 am
Forum: Investing - Theory, News & General
Topic: Muni bondholders vs. pensions
Replies: 50
Views: 2940

Re: Muni bondholders vs. pensions

Temper the doom and gloom by recalling that default rarely means the bondholders get nothing. It usually means they get less than promised. The market price if a bind reflects the market consensus of what the bond is worth, including the risk of getting less than the full payments. This is worth wor...
by afan
Sat May 12, 2018 8:17 pm
Forum: Investing - Theory, News & General
Topic: Muni bondholders vs. pensions
Replies: 50
Views: 2940

Re: Muni bondholders vs. pensions

Part of the appeal of a bond fund is that you DON'T have to read every bond prospectus and court case to figure out just where you stand if the issuer gets in trouble. For less than 10 basis points some people at Vanguard will do that for you. If bonds fall enough in credit quality the fund will sel...
by afan
Sat May 12, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

I had assumed "the company" in the OP was a law firm doing a seminar to get clients. What other entity would do that? Is there a business in prospecting for clients at a seminar, then referring the people to lawyers for a fee?
by afan
Sat May 12, 2018 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4696

Re: Advice on building a timeless mens wardrobe?

I cannot imagine being proud of a belt. The concept makes no sense to me. If I had grown the calf, killed it, skinned it, tanned the leather and fashioned the belt myself then, still, probably not. But at least maybe. But if I went to a store and bought a belt, what would there be to elicit pride? T...
by afan
Sat May 12, 2018 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on building a timeless mens wardrobe?
Replies: 65
Views: 4696

Re: Advice on building a timeless mens wardrobe?

styleforum.net This question gets asked constantly and there are innumerable threads with opinions. Pleats and cuffs have been in style for at least 100 years. If you look at OLD movies, pre WWII you will see plenty of them. You will see them throughout the twentieth century. The question is not whe...
by afan
Sat May 12, 2018 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

I have no intention of seeking a Private Letter Ruling. Years ago, when I initially set up the relatively simple estate plan we needed at the time, I was lucky enough to be directed to a true expert. He said that PLR's only make sense when the circumstances prevent you from accomplishing your goals ...
by afan
Sat May 12, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

I don't know how well that would work. I thought, could be wrong, that the distributions from the conduit trust had to go to a person, not to a trust. If they had to go to a person, I don't know you would then get the money into an irrevocable trust with that person as beneficiary. I have heard of a...
by afan
Fri May 11, 2018 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3044

Re: How to find reputable person for Will/Trust?

Try an ACTEC fellow. https://www.actec.org/fellows/directory/ ACTEC is the American College of Trusts and Estates Counsel. They are elected by current fellows on the basis of recognized expertise in the field. Many are law professors or judges. But there are enough who do client work that it is a go...
by afan
Fri May 11, 2018 11:45 am
Forum: Personal Finance (Not Investing)
Topic: When to claim Social Security: two reasons not to wait
Replies: 68
Views: 11506

Re: When to claim Social Security: two reasons not to wait

Currently, for someone who is still working and in good health, it would seem hard to justify collecting early. Eighty five percent of the benefit will be taxed at a high rate, so you have only the after tax value of the benefit to weigh against the increased monthly amounts to be had by waiting. Si...
by afan
Wed May 09, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Means of Titling/Re-Titling [checking acct into] my RLT?
Replies: 20
Views: 1070

Re: Means of Titling/Re-Titling [checking acct into] my RLT?

The last time we opened a trust account they were happy with a certificate of trust. But I would not care if they wanted a copy of the entire trust. If I made my dispositions in a will it would become public and people could see it. That would not happen with a trust, but that is not why I use an RL...
by afan
Tue May 08, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking proactive suggestions for Successor Trustee and scattered stocks
Replies: 3
Views: 307

Re: Seeking proactive suggestions for Successor Trustee and scattered stocks

It sounds like her dad is competent now. He should: Appoint the daughter as a co trustee now. NOT successor trustee who takes over when dad becomes incompetent. Daughter would need to prove that has happened and it is not a trivial thing to accomplish. Open a trust brokerage account and deposit all ...
by afan
Tue May 08, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make ANY sense for a US citizen to stash emergency funds overseas?
Replies: 62
Views: 4582

Re: Does it make ANY sense for a US citizen to stash emergency funds overseas?

I don't think it makes sense for any but the very wealthy. The scenarios the OP is suggesting would require the family to make an emergency escape from the US and move to another country. It presumes they would either not be permitted to or the hast would not let them get at their assets in the US. ...
by afan
Tue May 08, 2018 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Will/Trust question for kids
Replies: 23
Views: 1888

Re: Will/Trust question for kids

We were fortunate to have a relative of appropriate age who would serve both as guardian and as trustee. But had that not been the case, we would have split the jobs.

Depending on the particular individuals involved, not having to manage the money could make life easier or harder for them.
by afan
Tue May 08, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buying new car or buying used car
Replies: 91
Views: 4993

Re: Buying new car or buying used car

Buying new car is a luxury. If you want value, buy a slightly used, low mileage car that can last you as long as a new car would. Note that you are responsible to do regular maintenance to keep the car running as long as it can. If you neglect your car, it doesn't matter you buy a new or a used car...
by afan
Mon May 07, 2018 4:56 pm
Forum: Investing - Theory, News & General
Topic: How do brokerages make $s on cheap index funds?
Replies: 57
Views: 4980

Re: How do brokerages make $s on cheap index funds?

The sending revenue does not reduce the expense ratio. To do that, it would have to be paid to the fund company. Instead, for Vanguard at least, the revenue is paid to the fund as income. Thus, it increases the return. Vanguard has said that it will always have an expense ratios, since reflects the ...
by afan
Mon May 07, 2018 1:56 pm
Forum: Investing - Theory, News & General
Topic: How do brokerages make $s on cheap index funds?
Replies: 57
Views: 4980

Re: How do brokerages make $s on cheap index funds?

I think fidelity and American have been lowering their fees on active funds. As the cost of index funds have become very low, essentially free after you account for securities lending, investment companies have a choice. They can follow the low cost trend and compete for those low cost investors. Or...
by afan
Sun May 06, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Comparing 2 physician jobs
Replies: 69
Views: 5900

Re: Comparing 2 physician jobs

There is no work for her in the small town in offer #1 That would just about eliminate option 1. Her company has a facility about 2 hours away. She would have to commute during the week and come home on weekends. Non starter. Job 2, without a doubt. I assume you have concluded your search and there...
by afan
Sun May 06, 2018 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Best cash-back credit card right now?
Replies: 42
Views: 4579

Re: Best cash-back credit card right now?

If you have the patience to keep track of rotating categories, then own several cards that give higher cash back for certain purchases at certain times. Using this you can do better than 2% for many of your transactions. Or just do Fidelity or citi for their 2% on everything. For Fidelity, as noted,...
by afan
Sat May 05, 2018 2:51 pm
Forum: Investing - Theory, News & General
Topic: A Small College’s Endowment Manager Beat Harvard With Index Funds
Replies: 4
Views: 958

Re: A Small College’s Endowment Manager Beat Harvard With Index Funds

As far as I know, Harvard has been publishing it's endowment returns for years. I think you could just look it up. Note that the assets have been so different from a stock and bond portfolio that it would be amazing if the returns were the same. One would need to consider the difference in risks and...