Search found 3988 matches

by Levett
Sun Apr 23, 2017 6:11 am
Forum: Investing - Theory, News & General
Topic: Why are pensions revered, but annuities reviled?
Replies: 50
Views: 3531

Re: Why are pensions revered, but annuities reviled?

naraicjul asked: " Can anyone point me to decent research papers comparing the merits of SPIAs with self-managed alternatives (using bonds, etc.)?" Yes, I can (with the proviso that every point of view, including my own, will have some stated and/or unstated behavioral bias because we are ...
by Levett
Sat Apr 22, 2017 7:03 pm
Forum: Investing - Theory, News & General
Topic: Why are pensions revered, but annuities reviled?
Replies: 50
Views: 3531

Re: Why are pensions revered, but annuities reviled?

And the OP might wish to read the original link of this thread.

viewtopic.php?t=214931

Lev
by Levett
Sat Apr 22, 2017 4:35 pm
Forum: Investing - Theory, News & General
Topic: Why are pensions revered, but annuities reviled?
Replies: 50
Views: 3531

Re: Why are pensions revered, but annuities reviled?

gd wrote:

"This is a DIY crowd."

Yep.

And it leads, inevitably, to adopting some strategies/products and rejecting others.

Lev
by Levett
Sat Apr 22, 2017 1:38 pm
Forum: Investing - Theory, News & General
Topic: Why are pensions revered, but annuities reviled?
Replies: 50
Views: 3531

Re: Why are pensions revered, but annuities reviled?

I don't think the OP missed anything. His query clearly identifies SPIAs--e.g., " It seems to me that upon retirement, converting some portion of your retirement account into an single-premium immediate annuity (SPIA) is for all practical purposes the same thing as retiring with a pension."...
by Levett
Mon Apr 03, 2017 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Did you and your spouse have different opinions on retirement income need?
Replies: 31
Views: 2413

Re: Did you and your spouse have different opinions on retirement income need?

No friction. Independent careers. Retirement at different times. His, hers, ours. Ain't rational love grand?! :happy

Lev
by Levett
Mon Apr 03, 2017 10:32 am
Forum: Investing - Help with Personal Investments
Topic: Annuities the answer for correctly timing transition to retirement?
Replies: 89
Views: 3754

Re: Annuities the answer for correctly timing transition to retirement?

nedsaid wrote: " One reason that Single Premium Immediate Annuities are a good tool in the toolbox is that they take pressure off the remaining portfolio. Research shows that annuitizing part of a portfolio reduces the risk of exhausting a portfolio in retirement. Depending on the age you take ...
by Levett
Sun Apr 02, 2017 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Annuities the answer for correctly timing transition to retirement?
Replies: 89
Views: 3754

Re: Annuities the answer for correctly timing transition to retirement?

Taylor wrote: "It is true that most annuities are poor investments. However, most authorities agree that a low-cost Single Premium Life Income Annuity can be an excellent investment. They provide the highest guaranteed lifetime income of any investment." Speaking, respectfully, as a (parti...
by Levett
Fri Mar 31, 2017 10:20 am
Forum: Personal Consumer Issues
Topic: Health Insurance two states NY and NM
Replies: 8
Views: 632

Re: Health Insurance two states NY and NM

Another vote for Presbyterian. Almost a year ago had a family emergency while visiting. The EMT guys, in particular, were just great.

Lev
by Levett
Tue Mar 28, 2017 1:02 pm
Forum: Investing - Theory, News & General
Topic: Illusion of poverty/wealth
Replies: 159
Views: 19521

Re: Illusion of poverty/wealth

Re "practical solutions," I tried to call attention to the "solution" the authors proposed, which has been used by TIAA for many years. Here's more from the authors from the same passage: "For the past several years, bipartisan legislation has been pending in Congress that w...
by Levett
Tue Mar 28, 2017 9:58 am
Forum: Investing - Theory, News & General
Topic: Illusion of poverty/wealth
Replies: 159
Views: 19521

Re: Illusion of poverty/wealth

To me, the most salient point in the article is the following: "There is an easy fix for these two illusions. Instead of highlighting only total wealth, financial websites and apps should help people focus on their projected monthly income, too. It’s this amount, after all, that puts our wealth...
by Levett
Mon Mar 27, 2017 6:53 pm
Forum: Investing - Theory, News & General
Topic: Bogle Interview CNN - Sat.
Replies: 71
Views: 4880

Re: John Bogle interview: is "deep risk" growing?

For the distinction between a republic and a modern democracy, the interview is worth the price of admission.

Bogle really is a deep thinker.

Lev
by Levett
Mon Mar 27, 2017 9:12 am
Forum: Investing - Theory, News & General
Topic: Why are international and US stocks down today?
Replies: 53
Views: 3489

Re: Why are international and US stocks down today?

Myopic Loss Aversion, to which we are all subject to one degree or another.

Perhaps the following will prove instructive:

https://faculty.chicagobooth.edu/Richar ... 20Test.pdf

Lev
by Levett
Sat Mar 25, 2017 12:01 pm
Forum: Investing - Theory, News & General
Topic: "Designing Your "Glide Path"
Replies: 25
Views: 3098

Re: "Designing Your "Glide Path"

The language about "annuity-linked programs" is John Bogle's, and, yes, I have assumed he has in mind immediate annuities (Inflation-linked, longevity, SPIA) of one kind or another. I happen to have used SPIA.

Lev
by Levett
Sat Mar 25, 2017 9:28 am
Forum: Investing - Theory, News & General
Topic: "Designing Your "Glide Path"
Replies: 25
Views: 3098

Re: "Designing Your "Glide Path"

Taylor wrote: " Consider an appropriate target fund -- then forget about it." Forget about it until when? What happens at the time of decumulation? In 2009, John Bogle observed in Enough (page 151): "And we are only now developing annuity-linked programs that allow our clients a seaml...
by Levett
Fri Mar 24, 2017 3:50 pm
Forum: Personal Consumer Issues
Topic: The Sweet Spot for Yearly Car Costs
Replies: 54
Views: 3809

Re: The Sweet Spot for Yearly Car Costs

To borrow from my wine buying experience, I think the "sweet spot" for an automobile is its QPR (Quality-Price Ratio).

In my case, that means a Subaru Outback. :D

Lev
by Levett
Thu Mar 23, 2017 6:40 pm
Forum: Investing - Help with Personal Investments
Topic: Why did my fund GO UP so much?
Replies: 33
Views: 2766

Re: Why did my fund GO UP so much?

No fair peeking! :wink:

Lev
by Levett
Thu Mar 23, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Stay & remodel vs. Move - North Dallas
Replies: 25
Views: 942

Re: Stay & remodel vs. Move - North Dallas

Remodel and stay put--that's what I see within and between the lines.

It's such a pleasure to hear you take into account the needs and benefits for the entire family. :thumbsup

Lev
by Levett
Thu Mar 23, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 2097

Re: Pretirement

"Preretirement" (dry run) is a distinct advantage of the academic life if your home institution offers sabbaticals (generally for research). I thought of my last two sabbaticals as a dry run for retirement. I was convinced I was ready (that was about 20 years ago). I believe some industrie...
by Levett
Tue Mar 14, 2017 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance - Sewer Backup necessary?
Replies: 7
Views: 605

Re: Homeowners Insurance - Sewer Backup necessary?

It could be a penny wise/pound foolish situation.

Any kind of a sewer back up, basement or no basement, is an unpleasant business.

For less than $6 a month (a Starbucks latte with glop on it), you will eliminate the possibility of immense regret.

Lev
by Levett
Wed Mar 08, 2017 5:01 pm
Forum: Investing - Help with Personal Investments
Topic: Wellesley or Balanced index?
Replies: 26
Views: 1538

Re: Wellesley or Balanced index?

Dexter, Have you considered splitting the difference--e.g., allocate some to one fund and some to the other? Low cost, low turnover, both generate untaxed income (in a Roth); however, the funds are basically large cap, with minimal international exposure. I happen to think both funds have considerab...
by Levett
Sun Mar 05, 2017 7:02 pm
Forum: Personal Consumer Issues
Topic: How often do you discuss finances and spending with your spouse?
Replies: 60
Views: 3439

Re: How often do you discuss finances and spending with your spouse?

Regularly. Helps to make a durable marriage.

Lev
by Levett
Mon Feb 20, 2017 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: When do you need an annuity?.
Replies: 25
Views: 2577

Re: When do you need an annuity?.

Wizard observed: "Need" an annuity makes it seem like possible desperation. When might you WANT an annuity is a more levelled question. And the answer is: when you would prefer to have a higher taxable income in retirement rather than a lower income." That's what I call proper re-fram...
by Levett
Thu Feb 16, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella 1 million $500
Replies: 32
Views: 2423

Re: Umbrella 1 million $500

Very high. Just paid for our $2 million coverage. The premium was $305 for the year.

Lev
by Levett
Thu Feb 16, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: What's the secret to happiness?
Replies: 39
Views: 2780

Re: What's the secret to happiness?

Jason Zweig once quoted from the poet Lucretius that " the key to happiness is the satisfaction of modest wants." I have found this to be true. Unhappiness in my life, on the other hand, generally relates to someone in the extended family being unwell. I don't think happiness is a permanen...
by Levett
Wed Feb 15, 2017 7:50 pm
Forum: Investing - Help with Personal Investments
Topic: Stock Market Fears
Replies: 55
Views: 5990

Re: Stock Market Fears

Hi Ann, Yes. The run-up to retirement can be anxiety producing. (Those of us who are retirees,if we are honest with ourselves, know that anxiety to a greater or lesser degree). You wrote: "I don't mind missing a market upturn. I worry more about a loss at this point. I think lowering our stock ...
by Levett
Wed Feb 15, 2017 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: "The Real Reason Big Savers Retire Early: Minimizing Retirement Savings Needs" by Michael Kitces
Replies: 5
Views: 2107

Re: "The Real Reason Big Savers Retire Early: Minimizing Retirement Savings Needs" by Michael Kitces

I'm not sure what "lifestyle creep" is.

If you can afford and want to do "it"--whatever "it" is--do it.

Save and invest so you can do. 8-)

Lev
by Levett
Tue Feb 14, 2017 1:05 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Reaches $4 Trillion for First Time
Replies: 25
Views: 3944

Re: Vanguard Reaches $4 Trillion for First Time

Bigger is better doesn't do much for me. It's about service, and it would not surprise me a bit if Vanguard's service continues to encounter issues that have already been documented at this site.

Lev
by Levett
Mon Feb 06, 2017 6:09 pm
Forum: Investing - Theory, News & General
Topic: Too good to be true? [Bogleheads' model of index investing]
Replies: 48
Views: 5787

Re: Too good to be true?

"all that's needed is the discipline to put money away consistently."

You don't need to be a Boglehead to understand this.

But the emphasis on low costs, in addition, to discipline, matters.

Lev
by Levett
Mon Feb 06, 2017 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Do you account for likely life expectancy in retirement?
Replies: 63
Views: 4857

Re: Do you account for likely life expectancy in retirement?

I happen to agree entirely with Nisi.

Given the uncertainty of life (first wife died in her late 30s), I decided to retire early as soon as the kids were finished with college.

I listened to Satchel Paige: "Don't look back. Something might be gaining on you."

Lev
by Levett
Fri Feb 03, 2017 7:05 am
Forum: Investing - Theory, News & General
Topic: Just watched Warren Buffett's new HBO Documentary
Replies: 50
Views: 6978

Re: Just watched Warren Buffett's new HBO Documentary

orca91: exactly--

"Is he really a stock picker at all? Or, is he a businessman who buys businesses? Don't the rest of us buy stocks of his businesses?"

Buffett (and Munger) have made a lot of shareholders very happy for a very long time. That's mainly skill, not luck.

Lev
by Levett
Thu Feb 02, 2017 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: "Vanguard apologizes to 17,000 millionaires"
Replies: 3
Views: 2894

Re: "Vanguard apologizes to 17,000 millionaires"

This part disturbs me:

"The advisers, who did not cause the problem, were told in the company's message that they will have to apologize personally and "reinforce your relationship with the client."

Why doesn't McNabb step up?

Lev
by Levett
Wed Feb 01, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Spendthrift Daughter
Replies: 44
Views: 3559

Re: Spendthrift Daughter

"What is very common with "spendthrift" children/relatives is that, over time, funds have been given to them for various financial "crises" that may not have been given equally to other children/relatives." I have found this to be very much the case. I have also found ...
by Levett
Wed Feb 01, 2017 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Spendthrift Daughter
Replies: 44
Views: 3559

Re: Spendthrift Daughter

Transition-- There's a lot of wiggle room between all or nothing. To pass along (monetarily) your disappointment/anger with one daughter on grandchildren and an ex-husband is to put an extra burden on them when you are gone. You are perpetuating your disappointment/anger beyond the grave. That's not...
by Levett
Wed Feb 01, 2017 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Spendthrift Daughter
Replies: 44
Views: 3559

Re: Spendthrift Daughter

Do you not have an estate planning lawyer? That's where the rubber meets the road.

Lev
by Levett
Tue Jan 31, 2017 5:38 pm
Forum: Investing - Theory, News & General
Topic: Are you changing your AA based on current events?
Replies: 68
Views: 3463

Re: Are you changing your AA based on current events?

F150HD--

Splendid link! Thanks.

Lev
by Levett
Tue Jan 31, 2017 11:37 am
Forum: Investing - Theory, News & General
Topic: Are you changing your AA based on current events?
Replies: 68
Views: 3463

Re: Are you changing your AA based on current events?

Yep. Put a couple of canaries in my investment coal mine. No further comment, other than the memorable formulation ( not politica l) from a former Secretary of Defense: " There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things th...
by Levett
Mon Jan 30, 2017 10:50 am
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 112
Views: 19590

Re: Vanguard's Wellesley Income fund is incredible

What is there to like about balanced funds? Plenty. http://www.obliviousinvestor.com/in-praise-of-balanced-funds/ From the article cited above (which exactly fits my long-term experience): "In 2011 Morningstar completed a study on the gap in investor returns — how individual investors do compar...
by Levett
Mon Jan 30, 2017 6:53 am
Forum: Investing - Theory, News & General
Topic: Vanguard's Wellesley Income fund is incredible
Replies: 112
Views: 19590

Re: Vanguard's Wellesley Income fund is incredible

Since you asked for "thoughts" (not recommendations or advice), here are three observations: 1. Wellesley is one of the few active funds that continues to remain on Vanguard's "select" list-- https://investor.vanguard.com/mutual-funds/list#/select-funds/asset-class/month-end-retu...
by Levett
Sun Jan 29, 2017 4:42 pm
Forum: Personal Consumer Issues
Topic: Drivers License May not be good for air travel?
Replies: 47
Views: 4479

Re: Drivers License May not be good for air travel?

Just to reinforce what Mudpuppy and rotorhead recommend:

https://travel.state.gov/content/passpo ... dited.html

I have used the (rapid) service. It works.

(Of course, recent news events would give me pause.)

Lev
by Levett
Sun Jan 29, 2017 7:51 am
Forum: Personal Consumer Issues
Topic: Sump pump and power outage
Replies: 53
Views: 3656

Re: Sump pump and power outage

"Water powered backup sump pump"

Yep. Works great.

Batteries poop out. :annoyed

Lev
by Levett
Fri Jan 27, 2017 6:48 pm
Forum: Investing - Theory, News & General
Topic: Blindly following expert picks
Replies: 20
Views: 1754

Re: Blindly following expert picks

"Is this a winning strategy?"

The blind following the blind?

I think not.

Sorry.

Lev
by Levett
Thu Jan 26, 2017 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Wellesley and Wellington long term details Vs Indexes
Replies: 13
Views: 2056

Re: Wellesley and Wellington long term details Vs Indexes

You asked about the past (who knows about the future?). I hope these two links from Morningstar post correctly. http://beta.morningstar.com/funds/XNAS/VWINX/quote.html http://beta.morningstar.com/funds/xnas/vwelx/quote.html Click on "maximum" for the charts. Lev
by Levett
Wed Jan 25, 2017 12:07 pm
Forum: Local Chapters and Bogleheads Community
Topic: HAPPY 93RD BIRTHDAY, TAYLOR!
Replies: 199
Views: 8505

Re: HAPPY 93RD BIRTHDAY, TAYLOR!

Congratulations and best wishes, Taylor.

Lev
by Levett
Tue Jan 24, 2017 7:42 pm
Forum: Personal Consumer Issues
Topic: Best Places to Live in US?
Replies: 123
Views: 11649

Re: Best Places to Live in US?

It's always a good idea to check crime rates and DOJ "agreements" with local police. ABQ would be a good example. Bogleheads are data driven.

Lev
by Levett
Tue Jan 24, 2017 5:06 pm
Forum: Personal Consumer Issues
Topic: Best Places to Live in US?
Replies: 123
Views: 11649

Re: Best Places to Live in US?

JoMoney wrote: " As to art and culture there is quite a bit particularly in the unique south west latin American and native American genre." Absolutely! The Heard Museum alone (the exhibits, the shop, and the Indian Market) is paradise for the collector. And Phoenix is the perfect base for...
by Levett
Tue Jan 24, 2017 7:07 am
Forum: Personal Consumer Issues
Topic: Best Places to Live in US?
Replies: 123
Views: 11649

Re: Best Places to Live in US?

The following link may provide you with many useful ideas. Do not limit yourself to one section of the analysis.

http://www.well-beingindex.com/

Happy Hunting!

Lev
by Levett
Mon Jan 23, 2017 11:02 am
Forum: Personal Finance (Not Investing)
Topic: TIAA financial advisor?
Replies: 50
Views: 3700

Re: TIAA financial advisor?

Blister,

Ask for forms ADV 2A/B. You need to know levels of compensation.

Lev
by Levett
Sun Jan 22, 2017 1:01 pm
Forum: Personal Consumer Issues
Topic: Selling diamond engagement ring
Replies: 40
Views: 4828

Re: Selling diamond engagement ring

"Resale on jewelry is horrible, I know."

Yes, it is.

The offer appears to be in the ballpark. Consider it a sunk cost and move on.

Lev
by Levett
Thu Jan 19, 2017 2:57 pm
Forum: Investing - Theory, News & General
Topic: Y2k retiree how is s/he holding up after 2016
Replies: 26
Views: 4095

Re: Y2k retiree how is s/he holding up after 2016

It's all good for this happy 2000 retiree. Never bought into the 4% so-called SWR, nor did I go into retirement 75/25. Long before it became fashionable, some of us were counseled about LMP (the guaranteed"floor") by, uh, TIAA. 8-) Lev P.S. Exercises in schadenfreude don't do much for me.
by Levett
Thu Jan 19, 2017 8:17 am
Forum: Investing - Help with Personal Investments
Topic: Help-Don't understand my mom's TIAA RMD
Replies: 9
Views: 1013

Re: Help-Don't understand my mom's TIAA RMD

zeke, You need to speak with TIAA. Call 800-842-2252. It sounds like your dad may have used the TIAA Minimum Distribution Option (MDO) service. It's possible your dad had a wealth manager (WMA). Are you able to get into your dad's account? If so, if he has a wealth manager you will see it in his acc...

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