Search found 117 matches
- Mon Jun 03, 2013 7:28 am
- Forum: Investing - Theory, News & General
- Topic: Any leaving your broker stories you'd like to share?
- Replies: 17
- Views: 2269
Re: Any leaving your broker stories you'd like to share?
PLEASE DELETE.
- Wed May 15, 2013 1:16 pm
- Forum: Personal Consumer Issues
- Topic: Method of Selecting: What Book are you reading now?
- Replies: 32
- Views: 4081
Re: Method of Selecting: What Book are you reading now?
I don't read much fiction but of the non-fiction I read, I start with books that are cited in books I'm currently reading. I also look for reading lists of authors of those books. (William Bernstein etc).
I started a thread over on the Canadian counterpart to Bogleheads and asked the good folks there for opinions on what direction my reading list should take: http://www.financialwebring.org/forum/v ... 1&t=115831
I started a thread over on the Canadian counterpart to Bogleheads and asked the good folks there for opinions on what direction my reading list should take: http://www.financialwebring.org/forum/v ... 1&t=115831
- Thu May 09, 2013 11:58 am
- Forum: Investing - Theory, News & General
- Topic: "Less volatility = more wealth, all else being equal"
- Replies: 49
- Views: 7331
Re: "Less volatility = more wealth, all else being equal"
We got into this rather heavily over on Bogleheads' Canadian counterpart forum, The Financial Webring:
http://www.financialwebring.org/forum/v ... 9&t=115906
http://www.financialwebring.org/forum/v ... 9&t=115906
- Thu May 09, 2013 9:32 am
- Forum: US Chapters
- Topic: HAPPY BIRTHDAY MR. JOHN BOGLE
- Replies: 32
- Views: 3867
Re: HAPPY BIRTHDAY MR. JOHN BOGLE
Happy belated. Thanks for making the world a better place.
- Thu May 09, 2013 9:25 am
- Forum: Investing - Theory, News & General
- Topic: Aftershock
- Replies: 20
- Views: 2863
Re: Aftershock
What do you guys think about this? http://w3.newsmax.com/a/aftershockb/video47b.cfm?promo_code=110D8-1 http://bucks.blogs.nytimes.com/2012/10/15/try-to-focus-on-your-personal-economy/ From the article: http://graphics8.nytimes.com/images/2012/10/15/business/101512bucks-carl-sketch/101512bucks-carl-sketch-blog480.jpg Obviously, it’s easy to get distracted. And based on the questions I get, people are really distracted when it comes to money. Should I buy this stock? What do you think the market will do? Will Europe go down in flames? Will the economy ever recover? But what if instead of asking those questions, we asked just these questions: How much can I save? How is my portfolio allocated? Can I pick up some extra work this month? Can I s...
- Mon Apr 29, 2013 10:47 am
- Forum: Investing - Theory, News & General
- Topic: Do you trust Mint.com or similar services?
- Replies: 29
- Views: 6654
Re: Do you trust Mint.com or similar services?
In Canada at least, it isn't a question of trust; it's one of liability.
Canadian banks have stated they will not cover any losses due to fraud if they find you've used Mint.com, regardless of whether or not the loss had anything connection to your use of Mint.com.
I suspect Mint.com is as safe as any bank. I'm not willing to take the risk of waiving my coverage though so I'll stick to offline personal financial management software. (Quicken, MS Money etc)
Canadian banks have stated they will not cover any losses due to fraud if they find you've used Mint.com, regardless of whether or not the loss had anything connection to your use of Mint.com.
I suspect Mint.com is as safe as any bank. I'm not willing to take the risk of waiving my coverage though so I'll stick to offline personal financial management software. (Quicken, MS Money etc)
- Tue Apr 09, 2013 1:03 pm
- Forum: Personal Consumer Issues
- Topic: Shredding docs at public places
- Replies: 18
- Views: 3797
Re: Shredding docs at public places
I either shred or burn my documents myself, not trusting anyone else with sensitive personal data.
- Fri Mar 22, 2013 7:44 am
- Forum: Personal Finance (Not Investing)
- Topic: The Fine line between responsible and selfish/material
- Replies: 104
- Views: 12080
Re: The Fine line between responsible and selfish/material
I'm an avid reader of "Mr. Money Mustache" as well and will put in another vote for that forum.
For what it's worth, I struggle with this as well. I'm still trying to find a balance between enjoying life now (in context of spending) and saving hard to move my date of financial independence closer.
I actually derive enjoyment from knowing I could afford something but choosing not to spend on it. I happily rent as it saves me money versus buying a home.
I get a lot of satisfaction from helping friends with projects - sometimes projects they're spending a lot on, like a car restoration or home renovation. I don't need to be the one on the hook financially to get satisfaction from seeing a project through.
For what it's worth, I struggle with this as well. I'm still trying to find a balance between enjoying life now (in context of spending) and saving hard to move my date of financial independence closer.
I actually derive enjoyment from knowing I could afford something but choosing not to spend on it. I happily rent as it saves me money versus buying a home.
I get a lot of satisfaction from helping friends with projects - sometimes projects they're spending a lot on, like a car restoration or home renovation. I don't need to be the one on the hook financially to get satisfaction from seeing a project through.
- Tue Mar 19, 2013 7:54 am
- Forum: Investing - Theory, News & General
- Topic: What's your number? Why?
- Replies: 258
- Views: 37561
Re: What's your number? Why?
Thanks for that Rick. Your methodology validated the numbers I'd come up with. It was a welcome "gut check."Rick Ferri wrote:This was such a popular conversation that it inspired me to write and article based on it. I hope the OP does no mind:
Finding Your Number the Easy Way
Rick Ferri
- Fri Mar 08, 2013 9:52 am
- Forum: Investing - Theory, News & General
- Topic: What's your number? Why?
- Replies: 258
- Views: 37561
Re: What's your number? Why?
All my figures are in today's dollars.
My number is ~$400,000 to $500,000 by retirement.
It's based on an inflation indexed DB pension paying $30,000/year and a desired budget of $50,000/year (no dependents, no legacy) leaving a gap of $20,000 to fill in which I believe $400-500k would be enough to do.
I've also excluded the Canada Pension Plan and Old Age Security from my calculations to add a buffer. I have no idea if those programs will be available in future so this further stacks the deck in my favour.
I live on a lot less than that now so that provides room for travel and other hobbies.
My number is ~$400,000 to $500,000 by retirement.
It's based on an inflation indexed DB pension paying $30,000/year and a desired budget of $50,000/year (no dependents, no legacy) leaving a gap of $20,000 to fill in which I believe $400-500k would be enough to do.
I've also excluded the Canada Pension Plan and Old Age Security from my calculations to add a buffer. I have no idea if those programs will be available in future so this further stacks the deck in my favour.
I live on a lot less than that now so that provides room for travel and other hobbies.
- Thu Mar 07, 2013 7:26 am
- Forum: Personal Consumer Issues
- Topic: Password protect program
- Replies: 21
- Views: 3072
Re: 1Password
I'll second this recommendation. Backups to DropBox are a big plus.davebarnes wrote:I think you are actually looking for a "Password Manager".
I think (based upon 4+ years experience) that 1Password is the answer.
I use it to manage 600 logins + multiple credit cards + 30 software licenses.
http://1Password.com
- Thu Mar 07, 2013 7:21 am
- Forum: Personal Finance (Not Investing)
- Topic: Emergency Fund - Lifestyle fund or living expense fund?
- Replies: 16
- Views: 2443
Re: Emergency Fund - Lifestyle fund or living expense fund?
I live pretty frugally to start with so there'd be little material difference between "lifestyle" and "living expense."
My goal is 6-12 months living expenses but I have about 4-6 months saved right now.
I have a stable government job; my employer would have to give 12-months notice of layoff so that puts me in a good position to weather "emergencies". Lacking that, I'd likely up my e-fund to 12-24 months.
My goal is 6-12 months living expenses but I have about 4-6 months saved right now.
I have a stable government job; my employer would have to give 12-months notice of layoff so that puts me in a good position to weather "emergencies". Lacking that, I'd likely up my e-fund to 12-24 months.
- Thu Mar 07, 2013 7:13 am
- Forum: Investing - Theory, News & General
- Topic: Bogleheads' DRM-free e-books available?
- Replies: 18
- Views: 4513
Re: Bogleheads' DRM-free e-books available?
There's actually a plug-in for Calibre that automatically strips DRM from imported ebooks. (Kindle, epub etc) I won't add any links to it but a Google search should turn it up for you.Drain wrote:So...can one mention DeDRM here? As far as I know, it's legal for personal use. I could be wrong, though.
Once the DRM has been removed, you can use Calibre to convert to whatever format you want. Based on Calibre's recommendation, it's probably best to buy from Amazon (Kindle/MOBI) and convert to ePub, instead of the other way around.
- Tue Mar 05, 2013 4:50 pm
- Forum: Investing - Theory, News & General
- Topic: What does your international equity allocation look like?
- Replies: 66
- Views: 5419
Re: What does your international equity allocation look like
Keep in mind I'm a Canadian resident:
33% Canadian Equity (S&P/TSX Composite)
33% US Equity (S&P500)
33% Intl. Equity (MSCI EAFE)
I may add a small (10%?) emerging markets index component when my portfolio size is large enough that such an addition would move needle.
33% Canadian Equity (S&P/TSX Composite)
33% US Equity (S&P500)
33% Intl. Equity (MSCI EAFE)
I may add a small (10%?) emerging markets index component when my portfolio size is large enough that such an addition would move needle.
- Wed Feb 27, 2013 7:53 pm
- Forum: Investing - Theory, News & General
- Topic: Deleted
- Replies: 115
- Views: 16106
Re: Only after a 150% stock market rally in 4 years...
Do we seem to get an abundance of young, enthusiastic, successful but nonetheless untested new investors proposing shockingly aggressive asset allocations... The question I always ask is, "Why now?"...Is our message not getting across? Are these investors truly better late than never or is this something more dangerous? I'm one of those (young?) enthusiastic (but not irrationally exuberant) untested investors so I'll field the questions. I'm equity heavy because of the messages here and on Vanguard : risk and return as two sides of the same coin. (FWIW: I have a three way equity split, 1/3 of each Canadian, USA, EAFE) Why now? Because I just started. If I'd started 10 years ago, knowing what I know now, I'd be in the same allocat...
- Sun Feb 24, 2013 10:41 am
- Forum: Personal Finance (Not Investing)
- Topic: Software question (Quicken or similar?)
- Replies: 27
- Views: 1881
Re: Software question (Quicken or similar?)
For the Quicken users, perhaps they'd comment on the fact that Quicken's cash flow planner is broken.
More on that: https://qlc.intuit.com/questions/163394 ... icken-2013
TL;DR: the current version of Quicken doesn't take into account Budgeted expenses when projecting cash flow. This would seem like a key component to any piece of financial software you plan to actually use to track your money.
More on that: https://qlc.intuit.com/questions/163394 ... icken-2013
TL;DR: the current version of Quicken doesn't take into account Budgeted expenses when projecting cash flow. This would seem like a key component to any piece of financial software you plan to actually use to track your money.
- Sun Feb 24, 2013 9:55 am
- Forum: Personal Finance (Not Investing)
- Topic: Software question (Quicken or similar?)
- Replies: 27
- Views: 1881
Re: Software question (Quicken or similar?)
I used MS Money for 10 years before I ended up switching from PC to Mac, and I loved it. But it's not compatible with Mac. After an exhaustive search for a replacement financial software I ended up going with a program called Moneydance, and it takes care of everything I need it to (mainly just expenses and investments). I considered going with Quicken, but I read too many negative reviews. You can run MS Money on a Mac but you'll need to use either Boot Camp or Parallels. (works fine BTW) Another option for Mac users: " iBank ." Hasn't software development stopped on Money?.....Having spent over 30 years in the software industry, once the company quits support and developing, you are riding a lame horse into the desert. Also, I ...
- Sun Feb 24, 2013 9:05 am
- Forum: Personal Finance (Not Investing)
- Topic: Software question (Quicken or similar?)
- Replies: 27
- Views: 1881
Re: Software question (Quicken or similar?)
I bought Quicken in 2012 and found the cash-flow projections to be broken. It was a known problem - they call it a "feature" that cash flow doesn't take into account scheduled bills. That's a bug to me, not a feature. I returned Quicken and downloaded Microsoft Money Sunset Deluxe - for free. (I'd used MS Money 2004 for quite some time and it was flawless - it only lacked support for an iOS app) https://www.microsoft.com/en-ca/download/details.aspx?id=20738 MS Money will do exactly what you're looking to do. You can set up whatever categories you like and and generate reports to for different time periods to show the accumulated amounts for each category. FYI: you can split single transactions into parts if items on the same bill ...
- Thu Feb 14, 2013 6:35 pm
- Forum: Personal Consumer Issues
- Topic: What Book Are You Currently Reading? Part V
- Replies: 3372
- Views: 1560283
Re: What Book Are You Currently Reading? Part V
"Irrational Exuberance". I'm about a quarter of the way through and, unfortunately, not enjoying it.
I don't get "irrationally exuberant" about anything so perhaps this isn't a book for me.
I don't get "irrationally exuberant" about anything so perhaps this isn't a book for me.
- Thu Feb 14, 2013 4:21 pm
- Forum: Personal Consumer Issues
- Topic: Quicken Deluxe vs Premier
- Replies: 8
- Views: 8409
Re: Quicken Deluxe vs Premier
I recently switched to Quicken Premier from MS Money (a much better product for investment tracking). When I compared the two, deluxe does not do investment tracking. http://quicken.intuit.com/compare-quicken-personal-finance-software-products.jsp On the MS Money note, it's available as a free download from Microsoft, here: https://www.microsoft.com/en-ca/download/details.aspx?id=20738 I've been an MS Money user since version 2004 and I bought Quicken 2012 last year to see if I could make the jump. (there are iOS apps and so forth). I returned Quicken for a refund. The cash flow projections were fundamentally broken in Quicken 2012, which made it useless to me. Have they fixed that? (cash flow wasn't taking into account budget items, only ...
- Thu Feb 14, 2013 4:16 pm
- Forum: Personal Consumer Issues
- Topic: How do you find Mrs. Boglehead?
- Replies: 142
- Views: 19387
Re: How do you find Mrs. Boglehead?
eHarmony.
There are question to assess attitudes toward money.
There are question to assess attitudes toward money.
- Thu Feb 14, 2013 4:05 pm
- Forum: Personal Consumer Issues
- Topic: The perfect Boglehead car
- Replies: 92
- Views: 17088
Re: The perfect Boglehead car
Here's a Boglehead guide to buying a used car:
http://www.amazon.com/Lemon-Aid-Trucks- ... 00AW0TU90/
Fantastic book and well worth buying the latest edition when you're shopping for a car.
I especially like the section titled "Beaters you will love", followed by "Beaters you will hate."
http://www.amazon.com/Lemon-Aid-Trucks- ... 00AW0TU90/
Fantastic book and well worth buying the latest edition when you're shopping for a car.
I especially like the section titled "Beaters you will love", followed by "Beaters you will hate."
- Wed Feb 13, 2013 12:16 pm
- Forum: Investing - Theory, News & General
- Topic: The Perils of financial modeling with Excel
- Replies: 42
- Views: 4676
Re: The Perils of financial modeling with Excel
Neil Postman's excellent book "Technopoly" gets right into that issue. (he uses "pollsters" in relation to policy makers - where the policy maker doesn't question the underlying methodology at all)MathWizard wrote:...The problem is likely a human one. People (like the whale) who called themselves experts and who give those upstairs what they want, the impossible, outsized gains with no extra risk, and people upstairs who are not skeptical because the profit from not understanding. Those upstairs then give more control to these "experts" even though
they do not understand themselves what is really being done...
- Wed Feb 13, 2013 8:49 am
- Forum: Investing - Theory, News & General
- Topic: The Perils of financial modeling with Excel
- Replies: 42
- Views: 4676
Re: The Perils of financial modeling with Excel
I'm going on a bit of a tangent here but... I started doing a monthly budget in Excel years ago. I still use it for simple worksheets where errors are immediately obvious and calculations are limited to basic arithmetic. Somewhere around 2005, I bought a computer that came with Microsoft Money and I've been using it since. MS Money is a "black box" of sorts but it eliminates errors that creep into more complex spreadsheets. It introduces other errors but they're consistent - you know where to find and change the setting that caused them and you learn how they affect the program as a whole. With Excel, errors can become "lost in the sands of time". I would expect hope any reputable financial institution would use a softwa...
- Tue Feb 12, 2013 6:49 pm
- Forum: Investing - Theory, News & General
- Topic: Portfolio Tracker
- Replies: 4
- Views: 867
- Sun Feb 10, 2013 9:05 pm
- Forum: Investing - Theory, News & General
- Topic: What % of your income are you saving for retirement?
- Replies: 228
- Views: 35091
Re: What % of your income are you saving for retirement?
Mid-late 30's here, started late. Finally nixed the student loan a bit over a year ago.
As percentages of gross income:
~13% forced savings via employer pension plan contributions.
~25% personal self-managed savings.
That's a little over 50% of my after tax income saved.
No kids, no mortgage, spouse also works and manages her own savings.
As percentages of gross income:
~13% forced savings via employer pension plan contributions.
~25% personal self-managed savings.
That's a little over 50% of my after tax income saved.
No kids, no mortgage, spouse also works and manages her own savings.
- Mon Jan 28, 2013 11:20 am
- Forum: Investing - Theory, News & General
- Topic: Falling Apple's Price Causes Reverse Convertible Damage
- Replies: 20
- Views: 4158
Re: Falling Apple's Price Causes Reverse Convertible Damage
After reading most of the posts in this thread, I was reminded of an article I read recently:
Staying Out of the Murder Holes
Staying Out of the Murder Holes
- Mon Jan 14, 2013 10:57 am
- Forum: Personal Consumer Issues
- Topic: What Book Are You Currently Reading? Part V
- Replies: 3372
- Views: 1560283
Re: What Book Are You Currently Reading? Part V
I recently finished Boomerang: Travels in the New Third World by Michael Lewis.
On deck now:
Irrational Exuberance by Robert J. Shiller
Millionaire Teacher by Andrew Hallam
The Buyout of America by Josh Kosman
Amusing Ourselves to Death by Neil Postman
On deck now:
Irrational Exuberance by Robert J. Shiller
Millionaire Teacher by Andrew Hallam
The Buyout of America by Josh Kosman
Amusing Ourselves to Death by Neil Postman
- Mon Jan 14, 2013 10:16 am
- Forum: Investing - Theory, News & General
- Topic: Defined Benefits Pension as fixed income?
- Replies: 59
- Views: 8442
Re: Defined Benefits Pension as fixed income?
It is helpful to recognize that at the core questions about capitalizing income streams can't be answered without first answering how the asset allocation is to be determined. Mr. Bogle, in his quote about capitalizing income streams at least begins by setting the context that what is at issue is the method for determining AA. In this case, with a wish and a guess and a glance at Graham, what the pension is or isn't should probably be ignored. Also, I seriously don't think that is a dumb idea. By the way, rebalancing or not, a 100% stock allocation has a higher expected return than a 75/25 allocation, I'm pretty sure. I doubt the concept of saving dry powder for a stock decline offsets the lack of participation in stock rises, certainly wh...
- Mon Jan 14, 2013 8:13 am
- Forum: Investing - Theory, News & General
- Topic: Defined Benefits Pension as fixed income?
- Replies: 59
- Views: 8442
Re: Defined Benefits Pension as fixed income?
I hope you could explain af895 because this majority Boglehead approach totally escapes me and always has. They always say I have this because of that, but the this can be almost any number. How exactly did you decide your chosen 75/25 AA? Is this age in bonds? age -10? What is it and why? Does your pension/SS come into it in any way? thanks, JW Ah, I should have elaborated. The pension isn't entering into my calculations. I have 20+ years until I would be drawing down savings, hence the high equity allocation. What type of calculations produced 75/25? JW Best guess I suppose. I started with Benjamin Graham's suggestion not to go above 75/25 or below 25/75, took into account my own risk tolerance (very high) and my time horizon (long). I w...
- Mon Jan 14, 2013 7:02 am
- Forum: Investing - Theory, News & General
- Topic: Defined Benefits Pension as fixed income?
- Replies: 59
- Views: 8442
Re: Defined Benefits Pension as fixed income?
It's interesting to see this thread come up again. ...Personally, I don't consider pensions or Social Security in my asset allocations, in part, because ...you can't rebalance into or out of them. I've come full circle on this topic with the above comment mirroring my thinking of late. While my risk tolerance is very high (I'd relish a prolonged market depression in which to buy assets at a discount) I've elected to set my asset allocation to 25% fixed income/75% equity. (split three ways - domestic Canadian, US, international) largely to have something to rebalance into and out of. Are we talking a different language? I don't count "pensions or Social Security in my asset allocations" either. I certainly do take them into accoun...
- Sun Jan 13, 2013 6:08 pm
- Forum: Investing - Theory, News & General
- Topic: Defined Benefits Pension as fixed income?
- Replies: 59
- Views: 8442
Re: Defined Benefits Pension as fixed income?
It's interesting to see this thread come up again.
While my risk tolerance is very high (I'd relish a prolonged market depression in which to buy assets at a discount) I've elected to set my asset allocation to 25% fixed income/75% equity. (split three ways - domestic Canadian, US, international) largely to have something to rebalance into and out of.
I've come full circle on this topic with the above comment mirroring my thinking of late.ourbrooks wrote:...Personally, I don't consider pensions or Social Security in my asset allocations, in part, because ...you can't rebalance into or out of them.
While my risk tolerance is very high (I'd relish a prolonged market depression in which to buy assets at a discount) I've elected to set my asset allocation to 25% fixed income/75% equity. (split three ways - domestic Canadian, US, international) largely to have something to rebalance into and out of.
- Sat Jan 05, 2013 7:42 am
- Forum: Investing - Theory, News & General
- Topic: request for your thoughts
- Replies: 50
- Views: 5021
Re: request for your thoughts
I keep hearing "big, blue chip dividend payers offering dividend reinvestment plans (DRIPs) have been around for fifty years and keep increasing dividends, so they're safe bets." (Abbott Labs, McDonald's, Proctor & Gamble, Coca Cola etc)
- Sat Jan 05, 2013 6:34 am
- Forum: Investing - Theory, News & General
- Topic: If I were a selfish mutual fund manager I would...
- Replies: 15
- Views: 2192
Re: If I were a selfish mutual fund manager I would...
*laughs* I'd thought about this too, in context of this thread.BBL wrote:I wouldn't waste any time on performance - I'd just closet index and that would be sufficient...What would you do if you were a heartless SOB mutual fund manager only out for your own self-interest?
I've read about certain index funds actually beating their underlaying indices through very skillful management, though I don't remember where I read about that. (WBern's "Four Pillars" perhaps?)
That'd be my strategy as a fund manager - call it "a new breed of actively managed index funds" basically mis-appropriating the term "active" to get people into an index fund. (it's a selfless kind of selfish
- Sat Jan 05, 2013 5:24 am
- Forum: Investing - Theory, News & General
- Topic: 14 Benefits of Indexing & What Experts Say
- Replies: 4
- Views: 2299
Re: 14 Benefits of Indexing & What Experts Say
Fantastic. Thank you Taylor. I'll link people to this thread if they're considering indexing versus active management.
- Wed Jan 02, 2013 12:02 pm
- Forum: Investing - Theory, News & General
- Topic: [What did you learn about investing in] 2012
- Replies: 35
- Views: 2841
Re: [What did you learn about investing in] 2012
Learned in 2012: all things Bogle (thanks to spouse for gift of "The Boglehead's Guide to Investing.")
The big one: spending less & saving more has greater effect on returns than anything else. (include tilting, fund fees, asset allocation etc)
The other one learned by reading "A Random Walk Down Wall Street" - so many people "don't get it" (witness the use of terms like "at a resistance" on BNN, the language of technical analysis) and not only do they not get it, they don't even know they don't get it.
The big one: spending less & saving more has greater effect on returns than anything else. (include tilting, fund fees, asset allocation etc)
The other one learned by reading "A Random Walk Down Wall Street" - so many people "don't get it" (witness the use of terms like "at a resistance" on BNN, the language of technical analysis) and not only do they not get it, they don't even know they don't get it.
- Wed Jan 02, 2013 11:57 am
- Forum: Personal Investments
- Topic: Hope that one guy was using ETFs and not index funds
- Replies: 14
- Views: 1707
Re: Hope that one guy was using ETFs and not index funds
http://www.bogleheads.org/forum/viewtop ... 2&t=105728
I think the message is that discussions about things that haven't happened will result in those threads being locked. Commendably Boglehead-ish.
I think the message is that discussions about things that haven't happened will result in those threads being locked. Commendably Boglehead-ish.
- Tue Jan 01, 2013 5:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Just Deleted Our Mint Account
- Replies: 73
- Views: 14858
Re: Just Deleted Our Mint Account
Some people are "getting" the point I made, others aren't.
Let me clarify.
Let's say you use Mint.com.
Let's assume Mint.com is 100% secure and safe.
Let's say your ATM card gets skimmed. There is absolutely NO CONNECTION between that event and Mint.com.
Your bank is well within their right to DENY COVERAGE of the loss that resulted from your ATM card being skimmed. Why? Because your use of Mint.com violates their terms of service.
This is not hypothetical; in Canada at least, one or more of the Big Five chartered banks has spelled the above out very clearly: you will not be covered against losses if you use Mint.com.
Caveat emptor.
Let me clarify.
Let's say you use Mint.com.
Let's assume Mint.com is 100% secure and safe.
Let's say your ATM card gets skimmed. There is absolutely NO CONNECTION between that event and Mint.com.
Your bank is well within their right to DENY COVERAGE of the loss that resulted from your ATM card being skimmed. Why? Because your use of Mint.com violates their terms of service.
This is not hypothetical; in Canada at least, one or more of the Big Five chartered banks has spelled the above out very clearly: you will not be covered against losses if you use Mint.com.
Caveat emptor.
- Tue Jan 01, 2013 10:05 am
- Forum: Investing - Theory, News & General
- Topic: What is your current Asset Allocation Policy and why?
- Replies: 83
- Views: 15974
Re: What is your current Asset Allocation Policy and why?
I'm in my late 30's with 20 years to go to retirement.
I reduced my fixed income from 40% to 25% in November and, on reflection while re-reading Bernstein's "Four Pillars" and "Investor's Manifesto", to 0% in December. Why? I realized my government defined benefits pension could be viewed as fixed income and the bond index fund I had (Canadian DEX Universe) held a lot of government bonds.
So, here's where I'm at with a 100% equity portfolio:
1/3 domestic Canadian equity (S&P/TSX index fund)
1/3 US equity (S&P500 index fund)
1/3 Intl equity (MSCI EAFE index fund)
I'm sitting some cash that I'll DVA into more of the above in 2013.
I reduced my fixed income from 40% to 25% in November and, on reflection while re-reading Bernstein's "Four Pillars" and "Investor's Manifesto", to 0% in December. Why? I realized my government defined benefits pension could be viewed as fixed income and the bond index fund I had (Canadian DEX Universe) held a lot of government bonds.
So, here's where I'm at with a 100% equity portfolio:
1/3 domestic Canadian equity (S&P/TSX index fund)
1/3 US equity (S&P500 index fund)
1/3 Intl equity (MSCI EAFE index fund)
I'm sitting some cash that I'll DVA into more of the above in 2013.
- Sun Dec 30, 2012 4:24 am
- Forum: Personal Finance (Not Investing)
- Topic: Just Deleted Our Mint Account
- Replies: 73
- Views: 14858
Re: Just Deleted Our Mint Account
In Canada at least, financial institutions have client agreements that don't permit the use of services like Mint.com.
In the event a bank or credit card is compromised, even if Mint was not implicated, the bank can deny all coverage for the loss on the grounds that you violated their terms of service.
The issue isn't one of Mint.com security; it's loss protection.
That was enough for me; I'm using Microsoft Money, now a free download.
In the event a bank or credit card is compromised, even if Mint was not implicated, the bank can deny all coverage for the loss on the grounds that you violated their terms of service.
The issue isn't one of Mint.com security; it's loss protection.
That was enough for me; I'm using Microsoft Money, now a free download.
- Tue Dec 25, 2012 11:33 am
- Forum: Investing - Theory, News & General
- Topic: Do you have a written Investment Policy Statement?
- Replies: 61
- Views: 7302
Re: Do you have a written Investment Policy Statement?
I do have a written IPS.
I expect, for some people, the IPS is a guide.
My IPS is more of an official statement of my habits and beliefs surrounding money; it reflects things I'm comfortable doing already. (save a lot, reduce investment costs as much as possible, maintain an asset allocation appropriate to goals and risk tolerance)
One thing it is useful for: shutting down pushy financial advisors salemen. As soon as you say, "that doesn't fit with my investment policy statement," it stops them in their tracks. Either they don't understand what you just told them and they're keeping their mouth shut to avoid looking like fools or they know exactly what an IPS is and that you're way out of their league.
I expect, for some people, the IPS is a guide.
My IPS is more of an official statement of my habits and beliefs surrounding money; it reflects things I'm comfortable doing already. (save a lot, reduce investment costs as much as possible, maintain an asset allocation appropriate to goals and risk tolerance)
One thing it is useful for: shutting down pushy financial advisors salemen. As soon as you say, "that doesn't fit with my investment policy statement," it stops them in their tracks. Either they don't understand what you just told them and they're keeping their mouth shut to avoid looking like fools or they know exactly what an IPS is and that you're way out of their league.
- Tue Dec 25, 2012 3:54 am
- Forum: Investing - Theory, News & General
- Topic: when do you plan to change AA
- Replies: 29
- Views: 2835
Re: when do you plan to change AA
I selected "milestones" but that's a bit broad. I use an Investment Policy Statement (IPS) as a guide.
I recently updated my IPS from 60/40 equity/bond index funds to 75/25 after a market downturn during which I realized that I actually look forward to markets underperforming as a buying opportunity.
Other milestones include growing the portfolio to a size that justifies adding asset classes, and significant market events that might make it acceptable to dial down my risk level and glide toward my goal instead of keeping the power/risk on.
I recently updated my IPS from 60/40 equity/bond index funds to 75/25 after a market downturn during which I realized that I actually look forward to markets underperforming as a buying opportunity.
Other milestones include growing the portfolio to a size that justifies adding asset classes, and significant market events that might make it acceptable to dial down my risk level and glide toward my goal instead of keeping the power/risk on.
- Thu Dec 13, 2012 6:43 pm
- Forum: Investing - Theory, News & General
- Topic: Expense Ratios
- Replies: 62
- Views: 7282
Re: Expense Ratios
Do investors in the USA know how lucky they are vis-a-vis investment options?
In Canada, index mutual funds stick you with an average MER of about 0.44%. (TD e-Series tracking S&P/TSX, S&P500, MSCI EAFE + a Canadian Bond fund)
ETFs here get us down to 0.39%.
Source: http://canadiancouchpotato.com/model-portfolios/
A lot of Canadians are paying companies like "Investors' Group" and "Manulife Financial" an average MER of 2.5% for the same type of funds. The ignorance of the average Canadian investor is astounding which is why these companies can charge what they do.
Thanks goodness Vanguard is breaking into the market up here and the Boglehead mindset is gaining some traction.
In Canada, index mutual funds stick you with an average MER of about 0.44%. (TD e-Series tracking S&P/TSX, S&P500, MSCI EAFE + a Canadian Bond fund)
ETFs here get us down to 0.39%.
Source: http://canadiancouchpotato.com/model-portfolios/
A lot of Canadians are paying companies like "Investors' Group" and "Manulife Financial" an average MER of 2.5% for the same type of funds. The ignorance of the average Canadian investor is astounding which is why these companies can charge what they do.
Thanks goodness Vanguard is breaking into the market up here and the Boglehead mindset is gaining some traction.
- Thu Dec 13, 2012 11:39 am
- Forum: Personal Consumer Issues
- Topic: Bogleheads T-Shirt Possible Design(s)
- Replies: 108
- Views: 12950
Re: Bogleheads T-Shirt Possible Design(s)
I found a vector graphic of the Vanguard ship in a prospectus & converted to JPG.
For the purpose of printing a shirt, all graphics should be sent as vector art.
For the purpose of printing a shirt, all graphics should be sent as vector art.
- Sat Nov 24, 2012 4:06 pm
- Forum: Investing - Theory, News & General
- Topic: Deleted
- Replies: 56
- Views: 4849
Re: What is your greatest weakness as an investor?
My weakness: dining out.
I could cut more from my discretionary spending and save more of my money. Doing that would have more effect on my long term investment outcomes than tinkering with an already clean and efficient (albeit modest) portfolio.
I could cut more from my discretionary spending and save more of my money. Doing that would have more effect on my long term investment outcomes than tinkering with an already clean and efficient (albeit modest) portfolio.
- Sat Nov 24, 2012 3:36 pm
- Forum: Investing - Theory, News & General
- Topic: Fixed Income: Have YOU made any changes since 2009?
- Replies: 28
- Views: 2283
Re: Fixed Income: Have YOU made any changes since 2009?
I only started investing in earnest in the last year.
I reevaluated my IPS and rebalanced into 75% equity/25% bond from a previous 60% equity/40% bond.
Market dips/flash crashes made me want to buy more equity at discount prices. This convinced me I had a higher risk tolerance than my former IPS AA reflected.
I reevaluated my IPS and rebalanced into 75% equity/25% bond from a previous 60% equity/40% bond.
Market dips/flash crashes made me want to buy more equity at discount prices. This convinced me I had a higher risk tolerance than my former IPS AA reflected.
- Thu Nov 22, 2012 1:28 pm
- Forum: Personal Consumer Issues
- Topic: Extended Warranties & Service Plans. Do they work?
- Replies: 26
- Views: 2468
Re: Extended Warranties & Service Plans. Do they work?
I generally don't buy extended warranties but do pay for large items with a credit card that has extended coverage.
My spouse has availed herself of VISA's extended coverage and it has replaced or repaired items with little to no fuss.
One item I did spring for the extended warranty on: a washing machine. Why?
Water + electricity + heat + vibration + chemicals + dirt/debris = huge amounts of wear and tear.
Sure enough, the machine ingested a foreign coin which punched a hole in the pump. A $300+ repair was done for free under the extended warranty.
I realize the plural of anecdote is not data. I use this one to illustrate there are some items for which it may make sense to buy the extended warranty.
My spouse has availed herself of VISA's extended coverage and it has replaced or repaired items with little to no fuss.
One item I did spring for the extended warranty on: a washing machine. Why?
Water + electricity + heat + vibration + chemicals + dirt/debris = huge amounts of wear and tear.
Sure enough, the machine ingested a foreign coin which punched a hole in the pump. A $300+ repair was done for free under the extended warranty.
I realize the plural of anecdote is not data. I use this one to illustrate there are some items for which it may make sense to buy the extended warranty.
- Thu Nov 22, 2012 1:05 pm
- Forum: Personal Consumer Issues
- Topic: What Advice Would You Give Your 30yo Self?
- Replies: 70
- Views: 9012
Re: What Advice Would You Give Your 30yo Self?
1) You have it better than 99% of the world, even on your worst day/week/year. Respect the other 99% by living humbly.
2) Don't assume tomorrow will be better than today. In fact, assume it will be much worse - poorer, unhealthier, less employed/employable. Conserve today. Eat healthy today. Exercise today. Network today.
3) Take a sure thing over a gamble. That government job offer? Take it. The small business is a long shot and likely won't work out.
I wish I'd known that back then but wishing for a thing doesn't make it so. I try to live by it now.
2) Don't assume tomorrow will be better than today. In fact, assume it will be much worse - poorer, unhealthier, less employed/employable. Conserve today. Eat healthy today. Exercise today. Network today.
3) Take a sure thing over a gamble. That government job offer? Take it. The small business is a long shot and likely won't work out.
I wish I'd known that back then but wishing for a thing doesn't make it so. I try to live by it now.
- Tue Nov 13, 2012 12:36 pm
- Forum: Investing - Theory, News & General
- Topic: Fess up, Bogleheads - what is your portfolio?
- Replies: 78
- Views: 9925
Re: Fess up, Bogleheads - what is your portfolio?
Can a Canadian play too?
20% Canadian Equity (S&P TSX index fund)
20% US Equity (S&P 500 index fund)
20% Intl Equity (MSCI EAFE index fund)
40% Canadian Bonds (DEX Universe bond index fund)
At next rebalance, it'll be 25% for each of the four.
20% Canadian Equity (S&P TSX index fund)
20% US Equity (S&P 500 index fund)
20% Intl Equity (MSCI EAFE index fund)
40% Canadian Bonds (DEX Universe bond index fund)
At next rebalance, it'll be 25% for each of the four.
- Mon Nov 05, 2012 1:40 pm
- Forum: Investing - Theory, News & General
- Topic: Your Best One Line of Wisdom
- Replies: 238
- Views: 23842
Re: Your Best One Line of Wisdom
Overheard the other day:
"Cheap thing no good. Good thing no cheap."
(perhaps not applicable to index funds... but it applies to durable goods and retirement nest eggs)
"Cheap thing no good. Good thing no cheap."
(perhaps not applicable to index funds... but it applies to durable goods and retirement nest eggs)