Search found 413 matches

by TN_INVEST
Wed Jun 24, 2015 10:47 am
Forum: Investing - Help with Personal Investments
Topic: Protecting assets against frivolous litigations
Replies: 19
Views: 2765

Re: Protecting assets against frivolous litigations

I was told by an attorney that one good idea is to separate assets between spouses. Especially vehicles. Put your vehicle in just your name and your spouses vehicle in just their name. I think the idea is that if you have an accident, your spouse's name is not tied to the vehicle (vice versa). And o...
by TN_INVEST
Tue Sep 23, 2014 9:47 am
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 11704

Re: You may want to rethink the odds of ever needing LTCi

I'd be very interested in seeing how often LTCi actually pays when it is needed. I've seen quite a few (admittedly anecdotal) stories about people who paid for LTCi for years and then when it was needed all sorts of roadblocks and denial of claims came from the insurance company. If someone who is ...
by TN_INVEST
Wed Sep 17, 2014 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Friend needs guidance or financial planner?
Replies: 3
Views: 576

Re: Friend needs guidance or financial planner?

What sort of relationship is she looking for?

I don't want or appreciate full-service. Some folks do.
by TN_INVEST
Wed Sep 17, 2014 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 11704

Re: You may want to rethink the odds of ever needing LTCi

My Genworth agent told me that 70% of their LTC claim $ get spent on other than nursing homes. (assisted living, in home care, etc.) And there is the moral hazard that insurance companies face (disability, dental, LTC & health especially). Folks that have the policy are more likely to show up a...
by TN_INVEST
Tue Sep 16, 2014 9:10 am
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 11704

Re: You may want to rethink the odds of ever needing LTCi

Very odd the article left out any analysis of home care. Home care is by far the preference, not nursing homes, so this analysis is pretty skewed. And unfortunately those living needs riders typically only cover nursing home and scantily at that. That's the first thing that I thought about. IN-HOME...
by TN_INVEST
Fri Sep 12, 2014 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on Student Loan Assistance
Replies: 3
Views: 486

Re: Taxes on Student Loan Assistance

Taxes will be paid in the year the benefit is received.

I suspect they will prepare the proper compensation forms for you (1099, w2, etc.).
by TN_INVEST
Thu Sep 11, 2014 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 7140

Re: Colleague being fleeced by insurance agent / Ponzi Schem

P.S. I know enough about indexed annuities, whole life, and structured products to know that these are products that are meant to be sold and not to be bought. Now explain to OP what a Ponzi scheme is, and how described stuff in OP is not a Ponzi scheme. Not relevant to my response. He wanted to kn...
by TN_INVEST
Wed Sep 10, 2014 10:34 am
Forum: Personal Finance (Not Investing)
Topic: contingent beneficiary for life insurance
Replies: 9
Views: 1152

Re: contingent beneficiary for life insurance

[quote="dm200" "Trust Under My Will" be the secondary or contingent beneficiary.[/quote]

That's what I've always heard, too.
by TN_INVEST
Wed Sep 10, 2014 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 7140

Re: Colleague being fleeced by insurance agent / Ponzi Schem

denovo wrote:
P.S. I know enough about indexed annuities, whole life, and structured products to know that these are products that are meant to be sold and not to be bought.


Now explain to OP what a Ponzi scheme is, and how described stuff in OP is not a Ponzi scheme.
by TN_INVEST
Tue Sep 09, 2014 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 7140

Re: Colleague being fleeced by insurance agent / Ponzi Schem

Sounds great for them. I would move along. Yup Is this sarcasm? How is this great for them? You/he/we don't know enough (and we certainly don't know enough) to be giving them advice. He said he doesn't want to press hard and seem accusatory, and yet he scurried over here to see if there is some inf...
by TN_INVEST
Fri Sep 05, 2014 3:39 pm
Forum: Personal Consumer Issues
Topic: cell phone for kids
Replies: 25
Views: 2278

Re: cell phone for kids

Buy a Sprint iPhone 4 (~$70 for a nice used one). Put it on Ting.com. Disable data. Have her use Wi-Fi for data needs. The bill should be around $10/month ($6 + usage). Their pay as you go plan should allow your plan to "grow" with your daughter. Sound advice for most folks of any age. Es...
by TN_INVEST
Wed Sep 03, 2014 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance do I need?
Replies: 22
Views: 2642

Re: How much life insurance do I need?

You just had a kid. Buy more. 10x income is a decent rule of thumb for life insurance until you become really wealthy and/or your kids are out of that paid for house. At your age, you can probably find enough money in your couch cushions to pay for it. Don't sweat the small things. You don't really ...
by TN_INVEST
Tue Sep 02, 2014 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Once your house appreciates +$250k, sell it?
Replies: 42
Views: 5451

Re: Once your house appreciates +$250k, sell it?

dickenjb wrote:Reminds me of Mark Twain's advice on stocks:

Buy a stock and sell it when it goes up.

If it doesn't go up, don't buy it.



Rule # 1 of investing....never lose money :D
by TN_INVEST
Tue Sep 02, 2014 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity - Timing of Surrender Charges
Replies: 10
Views: 927

Re: Variable Annuity - Timing of Surrender Charges

Are surrender charges different for contributions made at different times? I have been unable to find an answer to this question by searching the forum or elsewhere on the Web. I'd be shocked if they weren't. Have them call and ask. Get them to see if they have other options (some plans do have oth...
by TN_INVEST
Tue Sep 02, 2014 9:01 am
Forum: Personal Finance (Not Investing)
Topic: sell a 7 year old car or keep it?
Replies: 16
Views: 2372

Re: sell a 7 year old car or keep it?

Car parts are cheaper than car payments That's not to say that you plan on picking up payments, but most of the time it is much cheaper to maintain a used car than it is to buy a car. My preference with vehicles is to buy em used and use em up (cars don't do it for me, and I'm so frugal that the tho...
by TN_INVEST
Tue Sep 02, 2014 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Physician Long term Disability- Premium pre or post tax
Replies: 31
Views: 3965

Re: Physician Long term Disability- Premium pre or post tax

If I was offered pre-tax premiums, I'd take them. There's a 6/7 chance you won't ever get benefits, but the pre-tax premiums are guaranteed. Plus, those benefits will be much less taxed than your current income, since it'll be a lot less income. A bit of arbitrage there really. This assumes you can...
by TN_INVEST
Tue Sep 02, 2014 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Colleague being fleeced by insurance agent / Ponzi Scheme?
Replies: 54
Views: 7140

Re: Colleague being fleeced by insurance agent / Ponzi Schem

Sounds great for them. I would move along. Yup Might be an indexed annuity or some structured product. Regardless, when the 10 year treasury is yielding 2.4%, anything that is earning more than that requires "some" level of risk. The devil is in the details, and unless you want to be know...
by TN_INVEST
Tue Aug 26, 2014 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Fee-Only Advisor Cost?
Replies: 26
Views: 2305

Re: Fee-Only Advisor Cost?

Would a fee-only advisor be worth the money, and what is the fee structure? Interesting in hearing opinions and experiences. Cost is only an issue when value is in question. Lots of folks find value in this sort of thing, while lots do not same with many other services out there (I mow my own grass...
by TN_INVEST
Tue Aug 26, 2014 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 4241

Re: Life insurance with Long term care rider

celia wrote:
TN_INVEST wrote: if it helps folks get over the mental block of buying health insurance,

I assume you mean Long Term Care Insurance.



OK

Long term care insurance is a type of health insurance. Kinda like the rectangle/square stuff. I simply don't care to get all caught up in labels.
by TN_INVEST
Tue Aug 26, 2014 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Cash in Safe Deposit Box..??
Replies: 60
Views: 5199

Re: Cash in Safe Deposit Box..??

Cautious Optimist wrote:He dismissed me.


I'd tread lightly as to not over-step the boundaries of your friendship.

Same goes for the healthy diet & exercise folks.
by TN_INVEST
Fri Aug 22, 2014 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 4241

Re: Life insurance with Long term care rider

This type of insurance policy allows the death benefit to be paid before you die (to cover long term care expenses). There are a couple other companies that have similar policies (Pacific Life, Genworth, Lincoln, etc.). i kinda like em, and think it's a pretty "neat" concept. It's not perf...
by TN_INVEST
Thu Aug 21, 2014 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 32
Views: 3378

Re: Do the mega wealthy need life insurance?

Some folks like to give/pledge their assets to charity to avoid paying capital gains taxes while they are alive and "replace" that pledged asset with tax free life insurance death benefit. Stocks get a step up basis at death.[/quote] Yes, but they can't use the stocks while they are alive...
by TN_INVEST
Wed Aug 20, 2014 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 32
Views: 3378

Re: Do the mega wealthy need life insurance?

[quote="danieljquirk" Obviously, the need to provide for your family is not a reason. Maybe, if your assets aren't liquid (i.e. it is mostly land)? But lets assume most of your assets are liquid. Are there tax or estate-planning reasons to do it? [/quote] Some folks like to give/pledge the...
by TN_INVEST
Tue Aug 19, 2014 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Longer Term Investment Goals Progress Tracking
Replies: 20
Views: 1716

Re: Longer Term Investment Goals Progress Tracking

I think it's normal to treat folks that take things 4 places past the decimal point like Martians.
by TN_INVEST
Thu Aug 14, 2014 7:37 am
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 2003

Re: How much life insurance? 29 year olds

How boglehead-ish are you with your savings rate? I was thinking about going with the 30 year term instead of the 20 year term until I realized that if I make it another 20 years the amount I'm getting insured for will likely be chump change. As will the premiums and I bet the "value" of ...
by TN_INVEST
Wed Aug 13, 2014 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 2003

Re: How much life insurance? 29 year olds

All, I really appreciate these replies. Sounds like we have some thinking to do and it's not black and white in terms of choosing an amount/term. I do wish we had shopped around better for our current $250k term but oh well, we've learned. Thanks again. Very few things are black and white (especial...
by TN_INVEST
Mon Aug 11, 2014 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance? 29 year olds
Replies: 16
Views: 2003

Re: How much life insurance? 29 year olds

I'd keep/get enough to pay off your mortgage.
by TN_INVEST
Mon Aug 11, 2014 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Help me figure out how to sell investment advice legally
Replies: 12
Views: 2440

Re: Help me figure out how to sell investment advice legally

Does this mean that as long as I take the Series 65 and register in my state and with the SEC, I can offer fee-only advice to any number of clients anywhere in the US? Thanks guys!! I'm pretty sure you will need to take the 65 & register with any state that you have clients as a Registered Inve...
by TN_INVEST
Thu Aug 07, 2014 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Neighbor's Tree
Replies: 44
Views: 5176

Re: Neighbor's Tree

I'm pretty sure that you can trim said limbs back to the property line.

I'm sure you can work something out with the neighbor (he might have no idea how you feel). He might even pay some (or all) of the costs of pruning...or at the very least he might allow you on his property to trim the tree.
by TN_INVEST
Fri Aug 01, 2014 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment on mortgage for a not-forever home?
Replies: 33
Views: 2940

Re: Prepayment on mortgage for a not-forever home?

Hi folks - My husband and I just purchased our first condo and we're trying to understand the pros and cons of making early payments on our mortgage. For folks that stink at handling their money (most Americans...maybe/maybe not you), the best reason to prepay the mortgage is that it keeps folks fr...
by TN_INVEST
Fri Aug 01, 2014 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Should I become a CFP?
Replies: 27
Views: 6330

Re: Should I become a CFP?

My non-expert opinion is that certifications don't matter for someone in your position. All that matters is being willing to convince all your friends/relatives, and of course perfect strangers, to hand over their life savings to you. One percent of them will know or care what a CFP is. When it com...
by TN_INVEST
Fri Aug 01, 2014 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Medicaid look-back
Replies: 9
Views: 1321

Re: Medicaid look-back

richard wrote:Does the Medicaid five-year look back on asset transfers apply only to nursing home eligibility or does it apply generally, including to home care eligibility?


They will look back before paying for anything.
by TN_INVEST
Fri Aug 01, 2014 1:21 pm
Forum: Investing - Theory, News & General
Topic: ESA vs. 529 College Savings Plan
Replies: 2
Views: 593

Re: ESA vs. 529 College Savings Plan

I My understanding of the ESA is that the money is in her name and she gets it at 18. If she doesn't go to school, it seems like she would still get the money. I thought the ESA was for beneficiaries under the age 30 and that it could benefit another member of the family by changing the beneficiary.
by TN_INVEST
Mon Jun 16, 2014 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Advice re: Fixed Annuity Contract
Replies: 7
Views: 582

Re: Advice re: Fixed Annuity Contract

Another option might be to look at a low cost variable annuity & transfer the money.

Vanguard has an annuity with very low fees.
by TN_INVEST
Tue Jun 03, 2014 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Need advice on how to advise
Replies: 9
Views: 751

Re: Need advice on how to advise

Try not to be a Mr. Know-it-all. Money talks have a way of making folks uncomfortable. She may not want you to change from being her brother to being her financial advisor.
by TN_INVEST
Tue Jun 03, 2014 10:26 am
Forum: Personal Finance (Not Investing)
Topic: City Driver Hit My New Car. Diminished Value Advice?
Replies: 33
Views: 4370

Re: City Driver Hit My New Car. Diminished Value Advice?

I didn't know "diminished value" was an option, although I suffered a loss that should have applied. In the year 2000 my new truck was hit while parked by a drunk driver and the entire driver's side had to be replaced. I complained to the other driver's insurance and my own, as well as th...
by TN_INVEST
Mon Jun 02, 2014 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: City Driver Hit My New Car. Diminished Value Advice?
Replies: 33
Views: 4370

Re: City Driver Hit My New Car. Diminished Value Advice?

With a sideswipe, my guess is you probably don't have all that much by way of diminished value anyway, especially if the dealer did the repairs. JT Perhaps. Given a choice between 2 vehicles (non sideswiped & sideswiped), most all folks would choose the non sideswiped vehicle. Some might even a...
by TN_INVEST
Mon Jun 02, 2014 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Timing of paying off extra mortgage principal
Replies: 9
Views: 1846

Re: Timing of paying off extra mortgage principal

Good enough, thanks for the advice all. I won't bother taking time to make the extra payment mid-month, especially since I'll have to write and mail a check to do it. Not worth my time and the cost of a stamp for such a small amount of savings. Why not use online bill pay? Seems like every bank off...
by TN_INVEST
Wed May 28, 2014 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Cash in Safe Deposit Box..??
Replies: 60
Views: 5199

Re: Cash in Safe Deposit Box..??

Since we've had mention of the utility of gold in cases of societal breakdown, can anyone explain how that gold would be converted into usable increments? Let's say, I've set aside some 1 ounce bars or some gold coins, buried in the backyard and certainly NOT stashed in that safe deposit box, that ...
by TN_INVEST
Tue May 20, 2014 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: City Driver Hit My New Car. Diminished Value Advice?
Replies: 33
Views: 4370

Re: City Driver Hit My New Car. Diminished Value Advice?

With a sideswipe, my guess is you probably don't have all that much by way of diminished value anyway, especially if the dealer did the repairs. JT Perhaps. Given a choice between 2 vehicles (non sideswiped & sideswiped), most all folks would choose the non sideswiped vehicle. Some might even a...
by TN_INVEST
Wed May 14, 2014 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep some money in a local bank?
Replies: 47
Views: 4010

Re: Should I keep some money in a local bank?

schoolboyguy wrote:
Thoughts?


My thought: There is virtually no downside to keeping $1,000 in your local bank. Now, carry on. :happy
by TN_INVEST
Mon May 05, 2014 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buy SPIA annuity with inflation protection.
Replies: 5
Views: 1292

Re: Buy SPIA annuity with inflation protection.

Your 34 and want to buy an inflation adjusted single premium immediate annuity for 100k that pays $600 a month? Is this correct and were did you get this quote? John Yeah I want me some of that 7.2% return w/ COLA!! But maybe OP meant to write that he's 84... I too am confused about the age. One po...
by TN_INVEST
Tue Apr 29, 2014 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Life Term Insurance? 32 yrs old. [Help requested]
Replies: 41
Views: 3548

Re: Life Term Insurance? 32 yrs old. [Help requested]

I got a postcard in the mail the other day from Ohio National Life. They touted to be (had a nice chart to prove it) the lowest cost term provider across several age groups and policy amounts. The chart included lots of household carriers.
by TN_INVEST
Mon Apr 28, 2014 11:20 am
Forum: Personal Finance (Not Investing)
Topic: What to say to financial planners/insurance brokers
Replies: 45
Views: 14476

Re: What to say to financial planners/insurance brokers

Tell them you don't have any money so they will move on to more profitable targets. My thread was about people who know me, not cold calls. This wont work for me. For cold calls, I tell them nothing, just do not answer the phone, or if I do, have no issue hanging up ! Just tell them you appreciate ...
by TN_INVEST
Fri Apr 25, 2014 8:25 am
Forum: Personal Finance (Not Investing)
Topic: What to say to financial planners/insurance brokers
Replies: 45
Views: 14476

Re: What to say to financial planners/insurance brokers

We get folks that pound pavement and knock on doors at our office all the time trying to talk with us about copiers, business supplies, employee benefits, etc. You can borrow this line for the local folks that call you (bankers, insurance folks, cousins, co-workers, Vanguard agents, etc.) "I pr...
by TN_INVEST
Thu Apr 24, 2014 10:20 am
Forum: Personal Finance (Not Investing)
Topic: What to say to financial planners/insurance brokers
Replies: 45
Views: 14476

Re: What to say to financial planners/insurance brokers

Tell the Vanguard rep, bank, fund to go jump in a lake Tell your family to go jump in a lake You might also consider changing your phone number on record (I suspect lots of folks call my ex, ex, ex employer's fax machine or the local time temperature phone line). Or you could just mess with them and...
by TN_INVEST
Tue Apr 22, 2014 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Starting an RIA
Replies: 28
Views: 3283

Re: Starting an RIA

Making a living based on investment out-performance is a tall order. I'd suggest you look at adding value by providing financial planning service and help folks modify their investment behavior (lots of folks lose money by buying the wrong top mutual fund at the wrong time and selling at the wrong t...
by TN_INVEST
Mon Apr 21, 2014 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Starting an RIA
Replies: 28
Views: 3283

Re: Starting an RIA

Andymoler58 wrote:My main concern is whether I could make it profitable or not billing at $150/hr.


Regardless of what you charge ($10 or $10,000), you can make it profitable or not. :D

Profit = Revenue minus expenses

Starting a business (any business) is tough. Good luck.
by TN_INVEST
Mon Apr 21, 2014 9:51 am
Forum: Personal Finance (Not Investing)
Topic: 529's not recommended
Replies: 24
Views: 4050

Re: 529's not recommended

I'm with grabiner....

You might want to contribute to the MS plan and then roll the money to another state plan.
by TN_INVEST
Tue Mar 25, 2014 11:40 am
Forum: Personal Finance (Not Investing)
Topic: our renters want to buy our rent house
Replies: 20
Views: 3104

Re: our renters want to buy our rent house

I think the way they usually work is that the leasee continues to pay rent, and then pays additional money that goes toward the purchase of the home. You tell them you want 100k for the house. Say they pay 200 dollars extra. At the end of 3 years, they have payed 7200 dollars toward the home, if th...