Search found 3487 matches

by afan
Fri Jun 22, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Trustee for mom's estate: large reserve recommended
Replies: 21
Views: 1470

Re: Trustee for mom's estate: large reserve recommended

I have a relative who distributed too much. Found out that taxes and final bills were more than what was left. Had to make up the difference out of pocket. Relative was lucky that all the people who had received more than the should have eventually returned the excess. Could have been ugly otherwise.
by afan
Fri Jun 22, 2018 4:22 am
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 51
Views: 3378

Re: Will or Trust?

For the goal of asset protection leaving the money to your heirs is much more reliable than creating a DAPT for yourself. That is why bsteiner noted that the effectiveness of the DAPT is a topic of debate. If you leave money to heirs but out of their estate by leaving it in trust for them then, no m...
by afan
Wed Jun 20, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 51
Views: 3378

Re: Will or Trust?

The wills that direct assets into a trust at death are creating trusts for the benefit of the beneficiaries. As discussed in this thread, this is the best way to provide for minor children or adults who are too young or otherwise unsuitable to manage the money themselves. It also provides some prote...
by afan
Wed Jun 20, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Universal life insurance within ones Asset Allocation Model
Replies: 12
Views: 1012

Re: Universal life insurance within ones Asset Allocation Model

I would include some portion of the surrender value as a bond asset. This of course assumes that such a surrender value exists. If the insurance company keeps all the cash to pay the LTC or death benefit then there is no actual money to include in the asset allocation. It would be like counting the ...
by afan
Tue Jun 19, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 51
Views: 3378

Re: Will or Trust?

just make sure you also understand the costs that go into maintaining a trust. You have to pay the trustee (if it is not the kids). Sometimes you have to pay a lawyer if issues arise. You have to pay an accountant to file the trust returns each year. These add up. A trustee will take a commission o...
by afan
Tue Jun 19, 2018 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tracking spending before retirement useful for estimating retirement expenses?
Replies: 72
Views: 4046

Re: Tracking spending before retirement useful for estimating retirement expenses?

Our savings (both retirement and non-retirement) comes out first, then spending and usually some is left over that gets added to extra savings or put in a big-ticket item spending account. Our spending "allowance" is more than adequate to meet our spending wants and needs and I see no need for furt...
by afan
Tue Jun 19, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tracking spending before retirement useful for estimating retirement expenses?
Replies: 72
Views: 4046

Re: Tracking spending before retirement useful for estimating retirement expenses?

Not planning on early retirement, but here goes. Have been tracking expenses for years. Need that information to make a budget. The biggest change I can see from working to retirement will be Medicare premiums, which look to be much more than we pay for health insurance now. Not enough to break a bu...
by afan
Mon Jun 18, 2018 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 51
Views: 3378

Re: Will or Trust?

Not everything you own can go into a trust. If people owe you money, for example, that may be a debt repaid to you, or your estate, not your trust. The will would indicate that any such things would be added to the trust. People with children should set up trusts to hold the assets for the children ...
by afan
Mon Jun 18, 2018 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 51
Views: 3378

Re: Will or Trust?

Under Firechief's suggestion the kids could hire Fidelity, or any other corporate trustee, if they wanted one. They should be able to replace the corporate trustee. You would need your lawyer to carefully construct this so that the trust assets are not deemed to be so under their control that they o...
by afan
Thu Jun 14, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Financial strength ratings of auto insurers
Replies: 12
Views: 838

Re: Financial strength ratings of auto insurers

I can see financial strength mattering for the kind of insurance policy that you will keep for years or decades- say life insurance. Buy it while young and keep it through middle age. You want to count on the company being around. For auto insurance many people switch to better deals every few years...
by afan
Wed Jun 13, 2018 8:51 am
Forum: Investing - Theory, News & General
Topic: You Can Market Time At Valuation Extremes
Replies: 37
Views: 4117

Re: You Can Market Time At Valuation Extremes

There have been plenty of studies that show valuation-based timing does not work.

Valuations do predict long term returns. But not well enough to compensate for all the errors one makes when trying to use them for timing.

Fun to think about, I suppose, but don't try to beat the market.
by afan
Wed Jun 13, 2018 7:24 am
Forum: Investing - Theory, News & General
Topic: WSJ-- Next Stop for Mutual-Fund Fees: Zero
Replies: 40
Views: 4201

Re: WSJ-- Next Stop for Mutual-Fund Fees: Zero

Nothing to be suspicious about. The expense ratio is one source of revenue to pay the costs of running the fund. To the extent that those costs can be covered from other sources the ER can go down. Whether the ER goes down is a management decision. An alternative would be to keep the ER at a rate th...
by afan
Wed Jun 13, 2018 6:49 am
Forum: Personal Finance (Not Investing)
Topic: Home equity as part of retirement asset
Replies: 24
Views: 1459

Re: Home equity as part of retirement asset

We have a vague plan to sell our current house and move farther out from the city once we retire. This would free up money since the new place would be cheaper. But we don't count on it as a retirement asset. To the extent that one would go through with the sale and either buy something less expensi...
by afan
Tue Jun 12, 2018 8:00 am
Forum: Personal Consumer Issues
Topic: At what point to buy new car for safety
Replies: 94
Views: 9320

Re: At what point to buy new car for safety

Just remember that it takes years of real world data with each new safety feature to figure out the extent to which it actually reduces the risk of death. Some new features turn out to contribute little if anything. The fact that car makers thought it would be helpful and included it does not mean t...
by afan
Mon Jun 11, 2018 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: Investing when someone else gets all dividends
Replies: 80
Views: 4764

Re: Investing when someone else gets all dividends

Looking at it from a distance a mix of VTI and BND, or VTEB if tax exempt interest would be appropriate, seems best. The proportions could be 50/50. But here one might consider the needs as well as what one thought to be the intentions of the grantor. If the grantor thought this would provide a lot ...
by afan
Sun Jun 10, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Are you including SS in your planning model? Are the benefits really that high?
Replies: 148
Views: 11153

Re: Are you including SS in your planning model? Are the benefits really that high?

I agree that there is a limit to useful "what if" planning. One can always imagine a set of circumstances so bad that no amount of care will save you. I think the US economy is too diverse for a Venezuela style collapse. But if it were to happen there is nothing I could have done to be protected. Fo...
by afan
Sun Jun 10, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Are insurance rates non-negotiable/fixed?
Replies: 13
Views: 549

Re: Are insurance rates non-negotiable/fixed?

It could pay to be careful about the exact coverage you buy. Sometimes shopping will turn up that your current policy has you paying for more than you need. Different companies will have different discounts, so shopping gives you a chance to find those. But to actually give you a better rate the ins...
by afan
Sun Jun 10, 2018 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Cash balance plan (defined benefit) integrated with Vanguard's Personal Advisor
Replies: 4
Views: 490

Re: Cash balance plan (defined benefit) integrated with Vanguard's Personal Advisor

But the OP is in solo practice, hence the employer as well as the employee. I would not expect any help from Vanguard on this question. They have CFPs, but I have been unimpressed by their knowledge. I would expect a much better answer by posting a question on this forum than asking the Vanguard CFP...
by afan
Sun Jun 10, 2018 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Are you including SS in your planning model? Are the benefits really that high?
Replies: 148
Views: 11153

Re: Are you including SS in your planning model? Are the benefits really that high?

I run a variety of bad case scenarios in my retirement planning. I model inflation, stagnation, stagflation, dramatic increases in our expenses due to long term care needs and others. I also model retirement with lower amounts or no SS. Not expressing an opinion on how likely it is that SS would go ...
by afan
Fri Jun 08, 2018 2:35 pm
Forum: Personal Consumer Issues
Topic: Best solution for digitizing documents?
Replies: 55
Views: 5455

Re: Best solution for digitizing documents?

Bogleheads are a smart bunch, and it makes me feel good to know many of them seem to be maintaining digital file cabinets similar to my own. I can't be doing things too wrong... :happy One thing I'd add is my digital file cabinet of sensitive, financial PDF files, whether scanned or downloaded, is ...
by afan
Fri Jun 08, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Adding my name to deed (parents house)
Replies: 22
Views: 1564

Re: Adding my name to deed (parents house)

But the OP did not want to have a debt, due to plans to borrow money to start a practice in a few years. Assuming the mortgage would defeat that goal. The easiest solution would be if it is OK with the HOA for the OP to do exactly what desired. Live there, pay the expenses, but not become the owner....
by afan
Fri Jun 08, 2018 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Yes. There are hundreds of law reviews in the U.S., most of which run multiple issues a year. Getting published is easy if you're any good at all. The law reviews need articles. The higher one goes on the law review chain, the more letterhead bias will start to matter, but that won't be a factor at...
by afan
Fri Jun 08, 2018 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Strategy - first meeting with estate lawyer soon
Replies: 13
Views: 1891

Re: Strategy - first meeting with estate lawyer soon

the Barnes is a good case example of the consequences of creating a plan so inflexible that it cannot be carried out. The Barnes was rapidly heading into bankruptcy. The endowment was not large enough to support the increasing costs of maintaining and preserving the collection. The founder had put t...
by afan
Thu Jun 07, 2018 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Strategy - first meeting with estate lawyer soon
Replies: 13
Views: 1891

Re: Strategy - first meeting with estate lawyer soon

And every step of the change was carefully planned, with great public attention and court oversight. It was debated, options proposed and discussed widely in the local papers and nationally, for years. In the case of the Barnes Foundation, what really happened was that the original terms were unwork...
by afan
Wed Jun 06, 2018 3:26 pm
Forum: Investing - Theory, News & General
Topic: vanguard fund that is the safest fund that is most likely to just keep up with inflation
Replies: 18
Views: 2483

Re: vanguard fund that is the safest fund that is most likely to just keep up with inflation

For a short period of time, need for no loss, more or less keep up with inflation, you could go with something very plain vanilla- an FDIC insured savings account or other interest paying bank account. You cannot lose due to credit problems unless the federal government lets the FDIC go belly up. Th...
by afan
Wed Jun 06, 2018 3:12 pm
Forum: Investing - Theory, News & General
Topic: [WSJ] What Really Matters for an Index fund: Tax Skill
Replies: 17
Views: 2687

Re: [WSJ] What Really Matters for an Index fund: Tax Skill

The article did not explain how it determined the source of the, minor, variation in after tax returns. To the extent that a fund sees net redemptions it can be forced to realize capital gains. If another fund, managed identically, has no net redemptions then it would not have to realize these gains...
by afan
Wed Jun 06, 2018 2:53 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's own 401k plan eliminating S&P 500 Index option!
Replies: 86
Views: 7506

Re: Vanguard employees won’t have an S&P 500 index fund in their 401(k) plan

I am relieved to see that my employer is not the only one that "helps" employees by constantly changing the mix of funds available. They claim that they have to do this to protect employees from making bad investment decisions. In our case, they LOVE to dump index funds and transfer you into some cr...
by afan
Wed Jun 06, 2018 2:31 pm
Forum: Investing - Theory, News & General
Topic: FIRECalc anomaly
Replies: 10
Views: 957

Re: FIRECalc anomaly

I get the same results. Take the results with several grains of salt.
by afan
Tue Jun 05, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Out of curiosity, I looked at Yale law faculty. Randomly came up with those who do legal history. ALL of them went to either Yale or Harvard for law school. Most had PhDs. Nearly all had some sort of other advanced degree beyond their JD. Their bios might or might not mention what they teach. But th...
by afan
Tue Jun 05, 2018 10:57 am
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5067

Re: New SS claiming calculator

Oblivious investor, Perfect about the use of the mortality tables. For the average Joe I would think the Social Security tables underestimate life expectancy. They are based on old data and longevity for old people has improved, as far as I know. The various CSO tables are likely more accurate. They...
by afan
Tue Jun 05, 2018 9:38 am
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5067

Re: New SS claiming calculator

Not a comment about this particular calculator, but a general observation. It has always seemed to me that the correct way to handle this would not be to have a fixed discount rate that applied to every period in the future. That might work when future cash flows are certain, or at least the uncerta...
by afan
Tue Jun 05, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I suppose the biggest logical disconnect is between the reasons the OP is unhappy in the current job and the proposed solution. The OP sounds burned out. The pace of work expected is too fast. Needs to see too many patients, too quickly, do too much mindless paperwork and has too little time to thin...
by afan
Tue Jun 05, 2018 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Strategy - first meeting with estate lawyer soon
Replies: 13
Views: 1891

Re: Strategy - first meeting with estate lawyer soon

With some careful shopping I think you could find a trust company that could manage real estate and your foundation. I think those are common things for trust companies to do. The problem is the small amounts of money involved. Trust companies will charge based on the assets under management. If the...
by afan
Tue Jun 05, 2018 5:41 am
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5067

Re: New SS claiming calculator

The calculator is too simple to be useful to many people. It ignores the loss of benefits if one claims before full retirement age while still working. In our case it has my spouse claiming benefits but does not account for losing 100% of the benefit due to earned income. It also ignores my spouse s...
by afan
Mon Jun 04, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

If I could see half the patients in a day for half the compensation, then I would do that, but that isn't an option. We have a new administration more focused on the bottom line than the last one, and I can only hope that working conditions won't get worse. Ah, but it may indeed be an option for yo...
by afan
Mon Jun 04, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

I want to learn something and accomplish something. I enjoy quiet study, reading, writing, and scholarly discussion. I think that I would enjoy teaching, assuming motivated students. Then why not teach at a medical school? At least there you would know what you are talking about. By the time you kn...
by afan
Mon Jun 04, 2018 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

Professors publish (and do some teaching to justify their positions at law school). Adjuncts are paid, poorly, to teach.It is not a living at all, certainly not a living for an attorney or for someone who had a successful career as a physician. No one notices or cares if adjuncts publish. Although t...
by afan
Mon Jun 04, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can a Retired 60 yo MD, MBA Start a Law Career?
Replies: 273
Views: 12475

Re: Can a Retired 60 yo MD, MBA Start a Law Career?

If the OP is an academic in the medical field, I’d say, find a way to transition to wrting on medical-legal issues, and look for a law school career that way I had a similar thought, but I would be less encouraging. At this age, if the OP is in academics and would have any chance at all at getting ...
by afan
Mon Jun 04, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Using PersonalCapital, Mint, etc.... - and fraud concerns
Replies: 36
Views: 5581

Re: Using PersonalCapital, Mint, etc.... - and fraud concerns

I cannot imagine using an aggregator. I don't see any value and there are lots of downsides. If I really wanted to be able to see all my assets in one place, I would put them all with one company. I don't do that because I don't want one security breech to put all my money at risk. I log on and get ...
by afan
Mon Jun 04, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Custodian for Parents Assets? Also, Executor of Will Question.
Replies: 4
Views: 401

Re: Custodian for Parents Assets? Also, Executor of Will Question.

All good ideas. Remember that a revocable trust is revocable. If you are concerned about someone exercising undue influence on mom, then a trust that she could change might not be a good solution. You have to decide how likely it would be that someone would convince her to fire you as trustee and ap...
by afan
Mon Jun 04, 2018 3:06 pm
Forum: Investing - Theory, News & General
Topic: Thinking of a divorce - from Vanguard
Replies: 41
Views: 5416

Re: Thinking of a divorce - from Vanguard

Are we talking about retirement assets mainly? Or taxable? For taxable, you are probably handcuffed to holding your mutual funds. If you move your mutual funds then you would miss out on being in Admiral. Except that there are reports of people managing to buy or keep Admiral mutual funds held at ou...
by afan
Sat Jun 02, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: is Having more and needing less normal?
Replies: 113
Views: 8601

Re: is Having more and needing less normal?

But to get back on topic. I definitely consume less now than I did in the past. I used to chase things that others said I should seek. As I got older I learned what matters to me and what does not. So I no longer buy things or experiences based on the claims of others that these should be sought. I ...
by afan
Sat Jun 02, 2018 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: is Having more and needing less normal?
Replies: 113
Views: 8601

Re: is Having more and needing less normal?

My kids consider me to spend more money than necessary. They would not be favorably impressed by my buying some expensive suits. Completely different frames of reference and ideas of what is valuable. They are very serious about this and I got some of my attitudes from them. They don't watch much T...
by afan
Sat Jun 02, 2018 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: is Having more and needing less normal?
Replies: 113
Views: 8601

Re: is Having more and needing less normal?

My kids consider me to spend more money than necessary. They would not be favorably impressed by my buying some expensive suits. Completely different frames of reference and ideas of what is valuable. They are very serious about this and I got some of my attitudes from them. They don't watch much TV...
by afan
Sat Jun 02, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: is Having more and needing less normal?
Replies: 113
Views: 8601

Re: is Having more and needing less normal?

Difference between the few who have fashion sense and look sharp and the majority is very noticeable and I think for the most part serves them well. A happy moment as parent of a teenage daughter was when my daughter commented that I dress better than most dads at her school. That said, many seem n...
by afan
Sat Jun 02, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: is Having more and needing less normal?
Replies: 113
Views: 8601

Re: is Having more and needing less normal?

Why an exception for jewelry?
by afan
Sat Jun 02, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax exclusion - gifting to multiple people who then gift to one person?
Replies: 19
Views: 1865

Re: Gift tax exclusion - gifting to multiple people who then gift to one person?

But the court treated a gift to a daughter-in-law as a gift to the son. I had not heard this deemed a step transaction. The DIL did not then gift the stock to the son. But the Service decided it was really a gift to the son nonetheless. That is scary. The usual advice that one can gift to both membe...
by afan
Sat Jun 02, 2018 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Gift tax exclusion - gifting to multiple people who then gift to one person?
Replies: 19
Views: 1865

Re: Gift tax exclusion - gifting to multiple people who then gift to one person?

I had assumed the answer would be a simple "step transaction." But that case is scary. I would have thought that transferring shares to relatives, who kept them rather than giving them away, would be safe. The court held that giving assets to a daughter in law was in reality a gift to a son and ther...
by afan
Sat Jun 02, 2018 6:52 am
Forum: Investing - Theory, News & General
Topic: New York Times-Fidelity, Bruised From Crises, Searches for Life After Mutual Funds
Replies: 12
Views: 2273

Re: New York Times-Fidelity, Bruised From Crises, Searches for Life After Mutual Funds

Just to put that $5 billion profit into perspective. Last year JP Morgan reported over $18 billion in profit. They do a lot of things that Fidelity does not. Given the trillions of dollars at Fidelity, the basic jobs of administration and investment of assets do not appear to generate huge profits. ...