Search found 5802 matches

by Leesbro63
Thu Jun 20, 2019 11:09 am
Forum: Personal Investments
Topic: Tax Gain Harvesting in Muni Bonds
Replies: 13
Views: 632

Re: Tax Gain Harvesting in Muni Bonds

This appears to be bond market/interest rate timing. Good luck with that.
by Leesbro63
Thu Jun 20, 2019 7:00 am
Forum: Personal Finance (Not Investing)
Topic: First Child - Writing a Will
Replies: 11
Views: 676

Re: First Child - Writing a Will

Why can’t you do it now? Put stuff in there referencing any children born to both of you, with language that distributes your estate differently should there be no surviving children. You should probably have that “if, or” language anyway.
by Leesbro63
Wed Jun 19, 2019 8:14 pm
Forum: Investing - Theory, News & General
Topic: [Nominal] Annuities are a bet on future inflation rates and should not be purchased by retirees
Replies: 183
Views: 12306

Re: [Nominal] Annuities are a bet on future inflation rates and should not be purchased by retirees

do the math on annuities if you can get one adjusted for inflation and a joint policy with a guaranteed pay out, good luck putting the money in munis will do more good and your heirs will keep the principal I'm guessing that the cost (meaning meager payout) of a joint policy that's inflation adjust...
by Leesbro63
Sun Jun 16, 2019 8:18 am
Forum: Personal Investments
Topic: High net worth individual seeks portfolio advice
Replies: 81
Views: 8550

Re: High net worth individual seeks portfolio advice

So, let's rewind this decision back to 2007, and say I decided to wait until the market corrected by 33% to get in, and I did so, and bought in 2009 at a 33% drop from the high. The market ended up dropping further to around 50% losses. If I would have waited I could have in theory saved some money...
by Leesbro63
Sat Jun 15, 2019 7:42 am
Forum: Investing - Theory, News & General
Topic: 5 Million Into Fixed Income
Replies: 37
Views: 5500

Re: 5 Million Into Fixed Income

Wouldn’t muni bonds be the preferred fixed income investment for high net worth/high income?
by Leesbro63
Thu Jun 13, 2019 2:57 pm
Forum: Personal Investments
Topic: High net worth individual seeks portfolio advice
Replies: 81
Views: 8550

Re: High net worth individual seeks portfolio advice

I understand that it's possible to be TOO careful. I'm definitely not going to leave all of my money in cash forever, that's for sure, but I want to make a fully educated decision before I pull the trigger. I wish I could trust a financial advisor and go that route, and there might be some good one...
by Leesbro63
Thu Jun 13, 2019 10:53 am
Forum: Personal Investments
Topic: High net worth individual seeks portfolio advice
Replies: 81
Views: 8550

Re: High net worth individual seeks portfolio advice

First of all, thank you for all of the thoughtful replies. As I said in my post, I assumed that in my current understanding "I must be missing something", so I was not coming here thinking I had it all figured out as some of the snarkier replies seemed to imply. I want to clarify on some of the poi...
by Leesbro63
Mon Jun 10, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

Many, if not most, buyers have regrets. Wrong price, wrong size, wrong location, wrong school district, wrong neighbors, wrong sun exposure, etc. Fewer renters have regrets. Even if renting costs more, it can be thought of a mobility premium. One of the things that adds to that regret is the huge c...
by Leesbro63
Mon Jun 10, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

Again, I do get it that it's extremely variable, but there must be some rule of thumb. I'm guessing that the number is something like 5%. A $300,000 house would require $15,000 per year, ON AVERAGE, in repairs and maintenance. Just my guess. I use 5% per year maintenance factor on my new constructi...
by Leesbro63
Mon Jun 10, 2019 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

In my situation, renting is a great investment in enabling an enjoyable FIRE lifestyle. Homeownership is not for the weak. It is a second job, with 24/7 hours, and often crappy or negative pay. It involves mental work (keeping track of a lot of stuff, figuring out what to fix/upgrade/remediate and ...
by Leesbro63
Mon Jun 10, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

Again, I do get it that it's extremely variable, but there must be some rule of thumb. I'm guessing that the number is something like 5%. A $300,000 house would require $15,000 per year, ON AVERAGE, in repairs and maintenance. Just my guess. I use 5% per year maintenance factor on my new constructi...
by Leesbro63
Mon Jun 10, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

One other factor mentioned before deserves a further look: When you rent, you more often take a closer look at how much space you need and rent accordingly. When buying, it's generally the other way. You know that a 3 bedroom house will re-sell easier than a 2 bedroom house. So you maintain that ext...
by Leesbro63
Mon Jun 10, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

I was just having this conversation with a friend a few days ago. The myth is perpetuated by people ignoring the opportunity cost of capital tied up in home ownership. And, I think, by stories of mom and pop who bought the house in 1955 for $17,000. Today it's worth $300,000 in the LCOL areas and $...
by Leesbro63
Mon Jun 10, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

Here's a related question: For the long term homeowner, is there some approximate "factor" number to cover repairs and maintenance? I get it that reality is very variable. But I'm just wondering if you paid $100,000 for a house in 1990, did absolutely nothing but only emergency repairs, how much wou...
by Leesbro63
Mon Jun 10, 2019 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

There are a lot of factors here, but the 2 key ones, IMO, are how long you will live there and how fiscally responsible you are. Unless you get lucky with market timing, I'd say if you're going to stay somewhere less than 5 years, renting will come out ahead the large majority of the time. At 20+ y...
by Leesbro63
Sun Jun 09, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

I am not sure many would disagree with 1 but 2 is questionable. You would need to compare the cost of renting versus buying. In some ways it is easier as appreciation doesn't play much of a role. You can compare if having a 1500/month mortgage and having to pay maintenance is better than paying 2k/...
by Leesbro63
Sun Jun 09, 2019 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

To OP: The topic of rent vs buy is quite simple: 1. If you plan to sell your house in less than 5 years , don’t bother with buying since transaction cost will mostly likely wipe out any benefits with home ownership. 2. If you don’t live in a HCOL places like SF, Seattle, Boston, NYC, LA or wealthy ...
by Leesbro63
Sun Jun 09, 2019 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

What a fascinating question that came up again on Bogleheads. Similar discussion had different reaction back in 2008-2010 period. A handful of folks have correctly said - "every situation is different" and "to each their own" - here is my story that reflects that latter statements in response to th...
by Leesbro63
Sun Jun 09, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

To OP: The topic of rent vs buy is quite simple: 1. If you plan to sell your house in less than 5 years , don’t bother with buying since transaction cost will mostly likely wipe out any benefits with home ownership. 2. If you don’t live in a HCOL places like SF, Seattle, Boston, NYC, LA or wealthy ...
by Leesbro63
Sun Jun 09, 2019 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

Do you grow your own vegetables and breed cattle to produce your own milk and meat? Do you consider buying vegetables, milk, and meat at the grocery store as "throwing away your money" because it's more expensive than growing and breeding your own? This is a bad analogy. Because it IS more expensiv...
by Leesbro63
Sun Jun 09, 2019 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 18735

Re: Paying for rent is throwing away money...myth?

I think it's very situational and location-al. Here in the midwest (Pittsburgh), properties don't go up much (although some neighborhoods in the city are booming due to gentrification, but that's the exception). If you have kids and want to plant roots, an owned home is probably the best long term c...
by Leesbro63
Sun Jun 09, 2019 12:26 pm
Forum: Personal Consumer Issues
Topic: Switching From Medicare Advantage to Traditional Medicare
Replies: 18
Views: 2356

Re: Switching From Medicare Advantage to Traditional Medicare

I have reviewed the more recent threads regarding this issue. And it's still unclear to me if one can go from Medicare Advantage to Traditional Medicare. The situation is about a very good friend of mine with significant health issues (would not qualify for underwriting). He's 70 1/2 years old and ...
by Leesbro63
Fri Jun 07, 2019 5:07 pm
Forum: Investing - Theory, News & General
Topic: The Value of a Roth IRA
Replies: 13
Views: 893

Re: The Value of a Roth IRA

So far none of this has addressed my question: the portion of the value of a ROTH IRA attributable to the lifetime of the owner vs the portion attributable to the lifetime of the beneficiary after the owner dies.
by Leesbro63
Fri Jun 07, 2019 3:47 pm
Forum: Investing - Theory, News & General
Topic: The Value of a Roth IRA
Replies: 13
Views: 893

The Value of a Roth IRA

Current events has me thinking about the value of a Roth IRA versus a traditional one. Is the main value in the tax-free growth during the owner's lifetime, or is the main value in the deferral during a beneficiary (ies)'s life time after the original owner dies? Yeah, I know...it's a combination. B...
by Leesbro63
Fri Jun 07, 2019 12:14 pm
Forum: Personal Consumer Issues
Topic: What flagship (even used) item is better than a budget new item?
Replies: 131
Views: 7715

Re: What flagship (even used) item is better than a budget new item?

I bought a slightly used off lease Lincoln MKX Reserve in January. It is 3 years old and had 19K miles. It is a wonderful luxury SUV. It has a lot of room for 5 people and a lot of luggage space. Plus the 18 way power and massaging seats are really nice and way better on long trips than any budget ...
by Leesbro63
Fri Jun 07, 2019 10:49 am
Forum: Investing - Theory, News & General
Topic: [Nominal] Annuities are a bet on future inflation rates and should not be purchased by retirees
Replies: 183
Views: 12306

Re: Annuities are a bet on future inflation rates and should not be purchased by retirees

The Oblivious Investor article doesn't mention the Federal Reserve's 2% inflation target. As I wrote earlier , I'm of the opinion that, in absence of a competitively-priced CPI-indexed annuity, a 2%-indexed annuity is a good enough alternative to insure a base of stable lifelong income (in addition...
by Leesbro63
Fri Jun 07, 2019 10:44 am
Forum: Investing - Theory, News & General
Topic: The logical fallacy behind "Bonds Are For Safety"
Replies: 248
Views: 15443

Re: The logical fallacy behind "Bonds Are For Safety"

What’s your definition of “safety”? What’s your definition of “bond” ?
by Leesbro63
Fri Jun 07, 2019 9:08 am
Forum: Investing - Theory, News & General
Topic: [Nominal] Annuities are a bet on future inflation rates and should not be purchased by retirees
Replies: 183
Views: 12306

Re: Annuities are a bet on future inflation rates and should not be purchased by retirees

I've helped an aging relative with this decision. She's now age 83. 11 years ago, we looked at annuity costs and determined that the most prudent approach, in our opinion, was to buy a little then, a little more later and even more later. Of fixed payment annuities. Because the inflation adjusted on...
by Leesbro63
Fri Jun 07, 2019 7:15 am
Forum: Personal Consumer Issues
Topic: Everyone ought to be required to have an umbrella policy and life insurance!
Replies: 13
Views: 1444

Re: Everyone ought to be required to have an umbrella policy and life insurance!

I do not think that a parent should be responsible for the negligence of their teenage child, and should not be forced to give up everything they have or will have because their teen child was negligent. You might not think it should be this way, but it pretty much is. I don't think so. On what do ...
by Leesbro63
Fri Jun 07, 2019 6:54 am
Forum: Personal Consumer Issues
Topic: Everyone ought to be required to have an umbrella policy and life insurance!
Replies: 13
Views: 1444

Re: Everyone ought to be required to have an umbrella policy and life insurance!

I do not think that a parent should be responsible for the negligence of their teenage child, and should not be forced to give up everything they have or will have because their teen child was negligent. You might not think it should be this way, but it pretty much is. Parents of teenagers, and may...
by Leesbro63
Thu Jun 06, 2019 3:24 pm
Forum: Personal Consumer Issues
Topic: What flagship (even used) item is better than a budget new item?
Replies: 131
Views: 7715

Re: What flagship (even used) item is better than a budget new item?

When I was younger and not married (25 years ago), I bought a set of good Calphalon cookware to teach myself to cook real meals instead of single serve bachelor food. I figured I didn't want to learn on the cheap stuff, or I'd learn bad cooking habits. I still have the cookware, but it's probably t...
by Leesbro63
Thu Jun 06, 2019 8:24 am
Forum: Personal Consumer Issues
Topic: What flagship (even used) item is better than a budget new item?
Replies: 131
Views: 7715

Re: What flagship (even used) item is better than a budget new item?

LifeIsGood wrote:
Thu Jun 06, 2019 6:12 am
Thermapen digital thermometer. Fast reading and very accurate. Love it!
I read about Thermapen here on Bogleheads a number of years ago. I never had any interest or ability to cook, but with the Thermapen I've learned! I wouldn't be without it.
by Leesbro63
Wed Jun 05, 2019 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

Broken Man 1999 wrote:
Wed Jun 05, 2019 4:49 pm
elainet7 wrote:
Wed Jun 05, 2019 4:34 pm
would you treat children differently if one is a hi income earner and the others with more modest incomes
Nope. I would not. I would be willing to change things if a child or grandchild had special needs.

Broken Man 1999
This makes sense to me. Why punish someone for success?
by Leesbro63
Tue Jun 04, 2019 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

I am the original poster and my take away from all the replies is similar to this. That if funding college for grandkids is a small part of the grandparent(s')'s wealth, then perhaps it's fine to fund all grandkids college equally even though the adult children of those grandkids might have greatly...
by Leesbro63
Tue Jun 04, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

What about great grandchildren? Should we leave something for them too? I have one grandchild on my side, age 11. DW has three grandchildren, the youngest being in his mid 20's. But she also has four great grandchildren, one of them being a couple months older than my one grandchild. How to divvy u...
by Leesbro63
Tue Jun 04, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

In my opinion, if the inheritance per grandkid is small, then go ahead and leave them equal parts. If it is big, then don’t leave the grandkids anything - just give it to the parents in equal shares. Otherwise, there is room for argument on who gets what and whether it is fair. For example, having ...
by Leesbro63
Tue Jun 04, 2019 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

Interesting thread. Several thoughts expressed really resonate with me. 1) An inheritance received at an earlier age can be far more valuable than one received later in life. Consequently, the desire to leave something for each Grandchild separate from each Child. Funding a 529 Plan for each Grandc...
by Leesbro63
Tue Jun 04, 2019 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

straws46 wrote:
Tue Jun 04, 2019 12:16 pm
While my parents were alive I suggested they bring back primogeniture, but they would not have it.
I had to look up the word. Learned something new today!
by Leesbro63
Tue Jun 04, 2019 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

Quirkz wrote:
Tue Jun 04, 2019 12:25 pm
Leesbro63 wrote:
Tue Jun 04, 2019 11:58 am

What’s her number 😉?
Sorry, bud, but you don't stand a chance. :D
Aw, man!! Anyway, I am the original poster and this has (so far) been an interesting discussion. Thank you to all who have participated so far.
by Leesbro63
Tue Jun 04, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

This sounds very odd, but I guess it worked for them. What if grandpa went first, which is what usually, but not always, happens? Was it inconceivable that Grandma would remarry? I think the idea was even if she did remarry, she would a) still be the hawk-eyed money manager, and b) still look after...
by Leesbro63
Tue Jun 04, 2019 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

I was an ONLY grandchild, and did not receive one dime. In fact everything my grandpa owned (house in nyc, grandmothers pension who passed in 1992, social security) all went to some random lady he met 10 years prior. I know my mom's parents had arrangements specifically to deal with this. If Grandp...
by Leesbro63
Tue Jun 04, 2019 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

Props to you for even considering this. I was an ONLY grandchild, and did not receive one dime. In fact everything my grandpa owned (house in nyc, grandmothers pension who passed in 1992, social security) all went to some random lady he met 10 years prior. This is sad but I've seen a number of vari...
by Leesbro63
Tue Jun 04, 2019 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

Reply to MiamiVice, three posts above: On the other hand, being old and frail with a large pot of money, and with nursing home costs astronomical, there might be incentive for benign neglect or worse!
by Leesbro63
Mon Jun 03, 2019 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8025

Should All Grandkids Be Treated as Equal Members of Same Class?

I was involved in a situation recently that got me to thinking about the financial treatment of grandchildren. Should they all be treated as equal members of the same class? This is what I mean: Say grandpa has two adult children. One of them has 5 children and one has 1 child. Granddad wants to lea...
by Leesbro63
Fri May 31, 2019 7:02 am
Forum: Investing - Theory, News & General
Topic: [Nominal] Annuities are a bet on future inflation rates and should not be purchased by retirees
Replies: 183
Views: 12306

Re: Annuities are a bet on future inflation rates and should not be purchased by retirees

So flat payments provide more inflation protection over the first 14 years at the expense of less inflation protection over the remaining years. Good analysis. We'd be looking at it considering the *later* years, which is why we'd be getting a life annuity in the first place. It's not the early yea...
by Leesbro63
Wed May 29, 2019 1:15 pm
Forum: Investing - Theory, News & General
Topic: [Nominal] Annuities are a bet on future inflation rates and should not be purchased by retirees
Replies: 183
Views: 12306

Re: Annuities are a bet on future inflation rates and should not be purchased by retirees

Even an inflation-adjusted annuity isn’t really that if we have the high inflation that you buy these to protect against. Because of “taxflation”.
by Leesbro63
Thu May 23, 2019 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Complement Will
Replies: 66
Views: 3459

Re: Payable On Death Account as Will Substitute

I am the original poster: Clarification: This family member does have a will that names the same two people as his sole heirs. He doesn't want to change that. It just seems to me that having the POD account simplifies his intentions, since his Vanguard taxable account is his main financial asset. B...
by Leesbro63
Thu May 23, 2019 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3851
Views: 709023

Re: What's Your Credit Card Rewards Strategy?

IngognitoUSA wrote:
Thu May 23, 2019 12:46 pm
Bank of America gives $500 for $3k spend
Details please?