Search found 3945 matches

by afan
Wed Jan 23, 2019 12:35 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Spend Down Strategies Part 1
Replies: 5
Views: 1003

Re: Larry Swedroe: Spend Down Strategies Part 1

No strategies for those who will work past 70. Roth conversions once retired with income from SS and RMDs. Could be worth it to guard against future tax rates. If there were enough assets to face estate taxation then Roth conversions might increase the money for heirs. Without federal estate tax exp...
by afan
Sun Jan 20, 2019 9:32 am
Forum: Personal Finance (Not Investing)
Topic: How to Get Competitive Quotes on O&G Tax Prep Fees
Replies: 17
Views: 976

Re: How to Get Competitive Quotes on O&G Tax Prep Fees

The project you propose could eat up a large share of your income from the business. This approach might work if you were soliticing bids on a large projects- hundreds of thousands of dollars, annually, over many years. I am not a CPA but I cannot imagine going through all this to get a single clien...
by afan
Sat Jan 19, 2019 5:43 pm
Forum: Investing - Theory, News & General
Topic: When would you stop being a Boglehead?
Replies: 95
Views: 7409

Re: When would you stop being a Boglehead?

Another red sign was all of these 30 year olds financial advisers all wearing rolexes and Armani suits and driving fancy cars. The parking lot of the restaurant looked like a luxury car dealership This is an important part of marketing. Some people are very impressed by such displays of wealth. The...
by afan
Sat Jan 19, 2019 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Bank As Executor Of Will?
Replies: 26
Views: 1428

Re: Bank As Executor Of Will?

Note that the OP is going DIY for estate planning. Given the size of the estate and the simple goals that could be a good idea.

Hiring an estate planning expert could cost several percent of networth. OP could get advice on what to do but it may not be worth the cost.
by afan
Sat Jan 19, 2019 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Bank As Executor Of Will?
Replies: 26
Views: 1428

Re: Bank As Executor Of Will?

If the bank is getting a percent of assets then they want the total assets to be large enough that the percent charged will generate enough revenue to cover their costs. So having a minimum asset size is the way to do that. They cannot charge a flat fee because they cannot know how much time and eff...
by afan
Sat Jan 19, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Observation - when it's better to invest at lower rate
Replies: 12
Views: 1231

Re: Mortgage Observation - when it's better to invest at lower rate

This is a net present value problem. You cannot get the right answer without doing an NPV spreadsheet. The mortgage professor site has lots of calculators that may help. Among other things: The original analysis seems to either ignore the $50,000 put into the house altogether, or assume the rate of ...
by afan
Sat Jan 19, 2019 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab to Vanguard ?
Replies: 44
Views: 3116

Re: Schwab to Vanguard ?

Doesn't Vanguard have commissions on individual stocks? I wouldn't sell them there if so. Depends on how much you have there. At different asset levels you get some free trades. Easily could be more than 16. Better tax efficiency could add up to more money than the commissions even if you did have ...
by afan
Fri Jan 18, 2019 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Bank As Executor Of Will?
Replies: 26
Views: 1428

Re: Bank As Executor Of Will?

If you are leaving everything to charity, then the only thing left would be a small amount held to cover your final expenses. You could have almost everything POD to the charity and plan to have the remainder handled under small estates, which most states have. Banks expect to make a lot of money se...
by afan
Fri Jan 18, 2019 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab to Vanguard ?
Replies: 44
Views: 3116

Re: Schwab to Vanguard ?

If this is in a taxable account I would use a Vanguard ETF or a fund that had an ETF share class. The tax efficiency can be more significant than any difference in expense ratio and more important than whatever the commission may be to buy the etf. I don't know what the transaction fee would be to b...
by afan
Fri Jan 18, 2019 5:44 am
Forum: Investing - Theory, News & General
Topic: When would you stop being a Boglehead?
Replies: 95
Views: 7409

Re: When would you stop being a Boglehead?

Managing the assets is trivial. The ine comment estimating dozens of hours per year on this puzzled me. Once the portfolio is set up and new money is automatically invested there is nothing to do. Ignoare market moves. Check the asset allocation once a year once once every few years. That is it. I w...
by afan
Fri Jan 18, 2019 5:07 am
Forum: Personal Finance (Not Investing)
Topic: How long until we see negative ER funds?
Replies: 44
Views: 3183

Re: How long until we see negative ER funds?

That is true of the Vanguard design of the funds and etf's. This comment was not about that but about the index itself. The author was saying that the Fidelity index would lead to more turnover and realized gains. Again, this was a prediction made long before the funds had any record. In a few years...
by afan
Thu Jan 17, 2019 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Umbrella Written Policy Terms in Advance of Buying Policy
Replies: 6
Views: 528

Re: Getting Umbrella Written Policy Terms in Advance of Buying Policy

I have never had a problem like that with USAA. When I was shopping for life insurance I did have some agents, not for USAA, refuse to send complete details of policies. At least until I pointed out that the state insurance regulations required them to do so. Sometimes it took going over their heads...
by afan
Thu Jan 17, 2019 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: How long until we see negative ER funds?
Replies: 44
Views: 3183

Re: How long until we see negative ER funds?

I had not seen the sources that Iridium quoted. It is not quite as clear as what Vanguard says and they do not promise to return all the lending revenue to the funds. You can look up the lending revenue in the annual reports of funds. Compare to the expenses and see whether the revenue exceeds those...
by afan
Thu Jan 17, 2019 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: How long until we see negative ER funds?
Replies: 44
Views: 3183

Re: How long until we see negative ER funds?

I saw an interview with a high ranking Vanguard leader, might have been CEO, a while ago. He was asked whether the index funds expense ratios would go to zero. I cannot quote him from memory but the gist was that Vanguard would always list as the expense ratio what it cost to run the fund. To the ex...
by afan
Thu Jan 17, 2019 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Using Cash Reserves to Provide Consistent Cash Flow into Checking Acct
Replies: 8
Views: 663

Re: Using Cash Reserves to Provide Consistent Cash Flow into Checking Acct

We have a money market deposit account that pays a bit more than the checking account. It is setup to transfer money into the checking account if needed. Since we get regular paychecks, this rarely comes up. When the difference is interest rates between a money market fund and a chacking account was...
by afan
Thu Jan 17, 2019 5:31 am
Forum: Personal Finance (Not Investing)
Topic: Ever encountered a toxic advisor? How did you handle it?
Replies: 25
Views: 3058

Re: Ever encountered a toxic advisor? How did you handle it?

TIAA is a big company. Find a different person.
by afan
Tue Jan 15, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a trustee
Replies: 46
Views: 3273

Re: Choosing a trustee

In my experience, the family dynamics are understood by the corporate trustee and often a prerequisite for accepting the business. The information is relayed to them by either one or a combination of family members, CPAs, attorney, financial advisors, etc. who have a long standing history with the ...
by afan
Tue Jan 15, 2019 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a trustee
Replies: 46
Views: 3273

Re: Choosing a trustee

Well, the embezzler worked for Wells Fargo.
The concerns raised in the second article would be addressed by consulting with an estates and trust attorney.
That consultation would cost something, but not likely a percent of assets forever.
by afan
Tue Jan 15, 2019 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a trustee
Replies: 46
Views: 3273

Re: Choosing a trustee

Or maybe, an "agent for the trustee"? Individual provides the personal connection and could do what little is required to manage the investments. Agent would handle administrative tasks, prepare trust statements, tax returns and pay bills. On the rare occasions that legal advice is needed, consult a...
by afan
Tue Jan 15, 2019 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a trustee
Replies: 46
Views: 3273

Re: Choosing a trustee

My wife and I met with an estate attorney to setup our will. We have 2 young children, 2 & 4 yo, and 3 million in life insurance and a couple hundred thousand in investment/retirement accounts that will hopefully grow considerably by the time they are no longer minors. If something was to happen to...
by afan
Tue Jan 15, 2019 1:38 pm
Forum: Investing - Theory, News & General
Topic: How to avoid temptation to buy hot stocks or bitcoin?
Replies: 63
Views: 4258

Re: How to avoid temptation to buy hot stocks or bitcoin?

I have heard of bitcoin and I remember the excitement when the price went up. I have no idea what may be the current hot stocks. I don't pay attention to sources that would tell me what is going up or going down right now. I don't care. There will always be hot stocks and cold stocks. So what? Knowi...
by afan
Sun Jan 13, 2019 3:56 pm
Forum: Investing - Theory, News & General
Topic: Interesting FireCalc Results
Replies: 8
Views: 1748

Re: Interesting FireCalc Results

We know that going forward, this portfolio does not have a 100% chance of success, since the past will not repeat exactly. A Monte Carlo simulation may give more realistic success rates. Or not, depending on the specifics of the Monte Carlo simulation. Many of them do not adequately capture sequenc...
by afan
Sat Jan 12, 2019 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: How Long Should I Keep Financial Records of Deceased Relatives
Replies: 20
Views: 1428

Re: How Long Should I Keep Financial Records of Deceased Relatives

Bsteiner
Can we assume pdf's would be fine for that purpose. No need for the original paper?
by afan
Fri Jan 11, 2019 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard PAS vs. Schwab Intelligent Advisory service..
Replies: 4
Views: 499

Re: Vanguard PAS vs. Schwab Intelligent Advisory service..

It would be a no brainer if the fees were the only difference. Schwab manages the portfolios the same way as it's free Intelligent Portfolio. It uses a large number of funds, most of which you don't need. The expense ratios of the funds are ok overall, but the extraneous funds have fees higher than ...
by afan
Wed Jan 09, 2019 6:42 am
Forum: Personal Finance (Not Investing)
Topic: FYI: Yodlee sells your anonymized data to hedge funds
Replies: 7
Views: 764

Re: FYI: Yodlee sells your anonymized data to hedge funds

I don't care who sees my my truly anonymized data. I care a lot about who has the ability to log in to my various financial accounts. Given the rate of hacking I assume that signing up for one of these services is the same as turning all those identified individual data over to criminals. The minor ...
by afan
Mon Jan 07, 2019 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Trusting Up
Replies: 8
Views: 848

Re: Trusting Up

You can certainly gift money to an irrevocable trust now and have it be safe from estate and gift taxes later. At least under current law, including the planned reduction in the limits in the future. Of course, the laws could change. But as it stands now this would work. But the effective way to do ...
by afan
Mon Jan 07, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Strategic Spending to Hedge Against Future Uncertainity
Replies: 19
Views: 859

Re: Strategic Spending to Hedge Against Future Uncertainity

I don't have a bucket list. If I were to be diagnosed with some short term fatal disease today, but still was able to work, I would keep working. The nature of the work would change as I would have to hand over any longer term projects to people who would be able to see them through. I probably woul...
by afan
Mon Jan 07, 2019 12:40 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle says rebalancing is overhyped?!
Replies: 149
Views: 21090

Re: Jack Bogle says rebalancing is overhyped?!

OK. But where did the 50% figure come from? Or the 85% figure? Do you consider your tolerance for a 50% loss in your FDIC insured bank account? Or do you consider it too improbable to plan for? If you decide that you know how much of a drawdown you are willing to tolerate, how does that tell you wha...
by afan
Sun Jan 06, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Is it appropriate to take deduction for donating items belonging to deceased?
Replies: 8
Views: 1008

Re: Is it appropriate to take deduction for donating items belonging to deceased?

It would be fine, but if the itemizer did not already make those donations in 2018, then the deductions would have to appear on the 2019 tax return.

The nonitemizers could disclaim their rights to the donatable property without making gifts. So the gift tax exclusion would not matter.
by afan
Sun Jan 06, 2019 8:21 am
Forum: Investing - Theory, News & General
Topic: Jack Bogle says rebalancing is overhyped?!
Replies: 149
Views: 21090

Re: Jack Bogle says rebalancing is overhyped?!

The ratio of fixed income to riskier assets should never be based on market predictions Then what is the purpose of holding any stocks at all? Why not keep everything in interest paying checking accounts at FDIC insured banks? Risk would be zero.if expected return does not influence the asset alloc...
by afan
Sun Jan 06, 2019 8:16 am
Forum: Investing - Theory, News & General
Topic: Jack Bogle says rebalancing is overhyped?!
Replies: 149
Views: 21090

Re: Jack Bogle says rebalancing is overhyped?!

But how does one translate a wild guess as to how much a drawdown one could tolerate into an asset allocation? Well, whether how much drawdown you can tolerate is a wild guess or a carefully considered decision is up to you, but once you have decided on a maximum acceptable drawdown, you should lim...
by afan
Sat Jan 05, 2019 9:44 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle says rebalancing is overhyped?!
Replies: 149
Views: 21090

Re: Jack Bogle says rebalancing is overhyped?!

Asset allocation should not be done by educated wild guesses about some outcome-based notion of future risk, but by the maximum drawdown you can tolerate emotionally and financially. But how does one translate a wild guess as to how much a drawdown one could tolerate into an asset allocation? One h...
by afan
Sat Jan 05, 2019 9:34 am
Forum: Investing - Theory, News & General
Topic: Jack Bogle says rebalancing is overhyped?!
Replies: 149
Views: 21090

Re: Jack Bogle says rebalancing is overhyped?!

Amazing that in this long thread there is no discussion of whether the bands and target allocations are correct. One picks a target allocation based on forecasts of future risk and return of stocks and bonds. These forecasts barely qualify as educated wild guesses. Risks and returns are extremely no...
by afan
Sat Jan 05, 2019 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual Whole Life Insurance (65 Life)
Replies: 61
Views: 3482

Re: Northwestern Mutual Whole Life Insurance (65 Life)

Very few people need permanent life insurance. When the estate tax exclusion was smaller some people would buy whole life in an irrevocable trust to pay estate taxes at their death. The exclusion is now so high that few face estate taxes at all. Those who do need to plan for these taxes often have o...
by afan
Fri Jan 04, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should I modify or stop my Disability Insurance?
Replies: 14
Views: 897

Re: Should I modify or stop my Disability Insurance?

Fascinating. Both my individual and group policies said differently. I suppose they are outliers.
by afan
Fri Jan 04, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Should I modify or stop my Disability Insurance?
Replies: 14
Views: 897

Re: Should I modify or stop my Disability Insurance?

My employer pays for the coverage but reports it as taxable income, so benefits would be tax free. The OP may be overinsured. If you have coverage through work and buy an individual policy so that the total is well over 60% of your income you may not collect all that money if you become disabled. Mo...
by afan
Tue Jan 01, 2019 9:14 am
Forum: Personal Finance (Not Investing)
Topic: How to find a quality Estate Planning Attorney?
Replies: 31
Views: 3250

Re: How to find a quality Estate Planning Attorney?

Remember that there is no requirement that your estate attorney be local. If they practice in your state and meet your screen- say ACTEC fellow- then you can be comfortable that they know the laws in your state. A good attorney will tell you if they are not the right person for your needs. But some ...
by afan
Tue Jan 01, 2019 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual Whole Life Insurance (65 Life)
Replies: 61
Views: 3482

Re: Northwestern Mutual Whole Life Insurance (65 Life)

At this point you have nothing to lose by demanding your money back. Rightfully accuse them of grossly misleading sales practices. Report them to your state insurance regulator. And the BBB. These actions will cost you next to nothing. If NWML gives you some money to go away then you will be better ...
by afan
Sat Dec 29, 2018 9:02 am
Forum: Personal Consumer Issues
Topic: Spam calls to cell phone...
Replies: 121
Views: 13613

Re: Spam calls to cell phone...

I am impressed that someone has had success with taking these criminals to court. I had always assumed the sources were both out of the country and sufficiently well disguised that I could not identify a responsible party in the US. I will take another look at the totallystudly approach. I have elim...
by afan
Mon Dec 24, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Question about Disability Ins.
Replies: 3
Views: 466

Re: Question about Disability Ins.

Check whether any professional organizations to which you would belong anyway offer good insurance. I was able to buy an individual policy with a discount in the premium through a professional society. It was true own icc and the discount was substantial. If you are in a larger group or part of a mu...
by afan
Sun Dec 23, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Home purchase: how to effectively trade off location & price? (Boston area)
Replies: 57
Views: 2778

Re: Home purchase: how to effectively trade off location & price? (Boston area)

You do have to be careful in applying the past appreciation rates to your plans. This is an unusual situation over an an unusual period. THe proximity to Boston is a good proxy for how the housing responded during the crash, but it may not have been the driver of these results, at least not in the w...
by afan
Sat Dec 22, 2018 12:07 pm
Forum: Investing - Theory, News & General
Topic: More bad news for Wealthfront
Replies: 4
Views: 1010

Re: More bad news for Wealthfront

Presumably. Wonder whether Wealthfront will pay up to make its customers whole? Shows the risk of their aggressive and apparently careless approach to TLH. Not only do the wildly overstate it's value but they fail to do it correctly. A quarter million is a gentle slap on the wrist for doing this sys...
by afan
Fri Dec 21, 2018 7:59 am
Forum: Investing - Theory, News & General
Topic: Using minimum volatility and managed risk strategies to reduce sequence of return risk in retirement
Replies: 71
Views: 3930

Re: Using minimum volatility and managed risk strategies to reduce sequence of return risk in retirement

OK. I have read this thread and the S&P write up and I don't get where.the data are coming from. Both vineviz and S&P are presenting long term results for a.new strategy. How is this possible? It appears one forecasts the expected.volatilty of the asset classes under consideration and uses those for...
by afan
Wed Dec 19, 2018 6:42 am
Forum: Investing - Theory, News & General
Topic: Question on DFA's overall theory....
Replies: 18
Views: 1460

Re: Question on DFA's overall theory....

The theory is that the extra factor risk comes with extra return. If an investor is agnostic, indifferent, or unexposed to the particular risk of a factor and has a long enough investment horizon, then that investor can harvest the extra factor return over the long term. I think part of the modern ...
by afan
Mon Dec 17, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Law school without practicing law
Replies: 79
Views: 5828

Re: Law school without practicing law

I can imagine a narrow set of circumstances in which someone who has a successful business career might want a law degree to enhance the career but without actually practicing. Say you deal with attorneys A LOT because the work you do constantly requires contracting, complex understanding of local l...
by afan
Sat Dec 15, 2018 4:32 pm
Forum: Investing - Theory, News & General
Topic: QSPIX - thoughts on interesting fund
Replies: 1608
Views: 223772

Re: QSPIX - thoughts on interesting fund

Factoring (pardon the pun) in expenses, has it been a clearly better vehicle than cash? Yes. As well as bonds. As well as emerging markets equities. As well as international equities. As well as Sequoia. As well as Total World Equities (until the past year or so). But, for now, it is in a drawdown....
by afan
Tue Dec 11, 2018 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 28
Views: 1775

Re: Has anyone been able to execute a Power of Attorney with Vanguard?

Have you tried writing them, rather than phone calls?? I wonder whether they would be as cheerful about their defiance of the law when putting it in writing.
by afan
Mon Dec 10, 2018 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Wills, Estates and Trusts
Replies: 28
Views: 2643

Re: Wills, Estates and Trusts

We paid more than that for a name partner at the downtown office of a big firm in a big city. Almost certainly overkill in legal firepower for our situation. The problem was, we had previously wasted a smaller amount of money for a small office lawyer in the suburbs who came highly recommended but t...
by afan
Mon Dec 10, 2018 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Wills, Estates and Trusts
Replies: 28
Views: 2643

Re: Wills, Estates and Trusts

Eager to hear what bsteiner has to say. My limited experience has left me wary of telling the companies that the person is no longer competent. That triggers their concerns about fraud against the infirm. If one, as trustee of one's own trust, simply tells the world that "Mary Jones is the co truste...