Search found 508 matches

by LFKB
Wed Sep 19, 2018 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

Any reason why one of the children isn't being asked to help? It seems decidedly odd to go straight to a grandchild — who is still apparently learning about investment — to suddenly managed a portfolio of $7M, which must be a well-into-the-99th-percentile portfolio. What about my post made you thin...
by LFKB
Wed Sep 19, 2018 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

Any reason why one of the children isn't being asked to help? It seems decidedly odd to go straight to a grandchild — who is still apparently learning about investment — to suddenly managed a portfolio of $7M, which must be a well-into-the-99th-percentile portfolio. What about my post made you thin...
by LFKB
Wed Sep 19, 2018 3:16 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

How did you decide upon the 70/30 AA? Since family is involved and the timeframe for distribution could be very soon, I would think you would want to prioritize capital preservation over growth. I'm actually taking the stock portion down from 86% (81% stock and 5% REIT) to 70% (65% stock, 5% REIT),...
by LFKB
Wed Sep 19, 2018 2:58 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

I think your plan seems pretty reasonable at first glance. Even though the 4 beneficiaries are on board, I can see the value of covering yourself with some kind of 1-time fee financial consultation. Document what you are doing, and keep the beneficiaries up to date with statements, etc. Maybe get t...
by LFKB
Wed Sep 19, 2018 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

I heard of a gentleman with an MBA from the Booth School of Business. His deceased mom made sure that his inheritance was administered in trust with his two other brothers (who had no particular financial education qualifications) as trustees. I guess his mom didn't like the University of Chicago. ...
by LFKB
Wed Sep 19, 2018 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

Any reason why one of the children isn't being asked to help? It seems decidedly odd to go straight to a grandchild — who is still apparently learning about investment — to suddenly managed a portfolio of $7M, which must be a well-into-the-99th-percentile portfolio. What about my post made you thin...
by LFKB
Wed Sep 19, 2018 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

My grandma has asked me to do this and all of the heirs are supportive of the decision. She is completely with it mentally and none of her children would claim otherwise. She would assign me power of attorney on all the accounts. I know my aunts and uncles well and don't expect any issues from them...
by LFKB
Wed Sep 19, 2018 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

I would imagine holding the munis to maturity and then rolling to a bond fund would be advantageous tax-wise and bond return wise in 1-2 years (should be better for short/intermediate) after interest rate increases. What is the yield on the minis? Btw I only see a 3.29% yield on vanguard intermedia...
by LFKB
Wed Sep 19, 2018 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

First, I'm very confused by your post because I outlined all the steps I am taking to remedy the errors that I saw in her portfolio when I reviewed it...and you felt it necessary to then point out those errors which I already addressed, but see below for my response How is the Wedbush person adminis...
by LFKB
Wed Sep 19, 2018 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Re: Taking Over Management of $7M Portfolio - Need Review/Help Allocating

My grandma has asked me to do this and all of the heirs are supportive of the decision. She is completely with it mentally and none of her children would claim otherwise. She would assign me power of attorney on all the accounts. I know my aunts and uncles well and don't expect any issues from them....
by LFKB
Tue Sep 18, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Taking Over Management of $7M Portfolio - Need Review/Help Allocating
Replies: 50
Views: 3978

Taking Over Management of $7M Portfolio - Need Review/Help Allocating

Hi all, I have been asked to take over control of a $7M net worth portfolio for my 95 year old grandma. She has 4 children (ages 57-64) who will split the amounts equally when she passes away. At this point, she has more than enough money for herself so the management of this money is essentially fo...
by LFKB
Thu Jul 26, 2018 11:50 pm
Forum: Investing - Theory, News & General
Topic: Hold one stock 25 years
Replies: 68
Views: 6344

Re: Hold one stock 25 years

Google is my largest single stock holding and I’ve owned it since around $300. That would be my answer. Beyond investing in other tech start ups, they also have the best autonomous vehicle unit, a very strong cloud offering, YouTube, strong artificial intelligence, etc. They are making big bets in a...
by LFKB
Wed Jul 25, 2018 5:52 pm
Forum: Investing - Help with Personal Investments
Topic: What are the best options for a home equity line of credit?
Replies: 8
Views: 584

Re: What are the best options for a home equity line of credit?

Our HELOC rate through TD Bank is lower than what you were quoted. We opened it last fall; good experience with them. We also considered an offer through Fifth Third Bank that was competitive. What is your rate? Is it priced off prime or something else? If in relation to prime, what is the discount...
by LFKB
Wed Jul 25, 2018 3:36 pm
Forum: Investing - Help with Personal Investments
Topic: What are the best options for a home equity line of credit?
Replies: 8
Views: 584

What are the best options for a home equity line of credit?

Starting to look into a HELOC so I can fund a short term investment opportunity in a public security and do not have to cash out of my current investment and pay capital gains. So far I have spoken with First Republic, BofA, First Republic and US Bank. Best rate currently being offered is prime minu...
by LFKB
Thu Jul 19, 2018 6:09 pm
Forum: Investing - Help with Personal Investments
Topic: I'm about to inherit a single stock with a worth of just over 7 figures....
Replies: 103
Views: 9093

Re: I'm about to inherit a single stock with a worth of just over 7 figures....

I see giving up the $35,000 annually as a potential mistake. Almost any index fund will just as likely allow you to withdraw $35,000 a year on a $1M portfolio, its only a 3.5% withdrawal rate. He wouldn't be giving up $35,000 annually. If they wanted that amount of income they could still have it. ...
by LFKB
Thu Jul 19, 2018 6:04 pm
Forum: Investing - Help with Personal Investments
Topic: I'm about to inherit a single stock with a worth of just over 7 figures....
Replies: 103
Views: 9093

Re: I'm about to inherit a single stock with a worth of just over 7 figures....

If rather than inheriting $1M of the stock someone gave you $1M in cash, would you put it all in this stock? That is the answer you should be asking yourself.
by LFKB
Wed Jul 18, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone not have a Budget?
Replies: 115
Views: 7480

Re: Anyone not have a Budget?

Words to live by..."You can't go over budget, if you don't have a budget" I don't have a budget. I spend as much as I want on frivolous vacations, nice dinners, concerts, sporting events and so on but I make enough that there is still ample savings at the end of the year that support my retirement g...
by LFKB
Wed Jul 18, 2018 5:36 pm
Forum: Investing - Help with Personal Investments
Topic: High Crypto Allocation
Replies: 37
Views: 3156

Re: High Crypto Allocation

I don't invest in crypto so you're not asking for my opinion here, but there is a real possibility that the current versions of crypto that you're investing in goes to zero or close to it. So I would only do an amount that you are comfortable losing. Personally it feels like the craze is over and th...
by LFKB
Wed Jul 18, 2018 1:55 pm
Forum: Investing - Theory, News & General
Topic: Why is leveraging property good but leveraging stocks bad?
Replies: 206
Views: 15554

Re: Why is leveraging property good but leveraging stocks bad?

I don't think using leverage is a bad thing for stocks as long as it's done so prudently. It is worth noting though that those stocks you are buying are already levered at the company level. So there is already leverage at play which is amplifying those equity returns up or down for each stock you o...
by LFKB
Wed Jul 18, 2018 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: Why Does Vanguard Emerging Markets not Tie to Market Caps?
Replies: 7
Views: 899

Re: Why Does Vanguard Emerging Markets not Tie to Market Caps?

You're not looking at free float, are you? Most stock indexes intended for investment adjust weights for float. I wasn't aware of that. So when we say market cap weighted which we do on here constantly, that is a misnomer. It should be free float market cap weighted as there are some rather large d...
by LFKB
Wed Jul 18, 2018 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Why Does Vanguard Emerging Markets not Tie to Market Caps?
Replies: 7
Views: 899

Re: Why Does Vanguard Emerging Markets not Tie to Market Caps?

The same appears to be true for Vanguard International. Royal Dutch Shell is the #1 holding with $289 billion market cap and Tencent is #2 with $451 billion market cap. Total Stock Market appears to be weighted as you'd expect (by market cap) so maybe there is some sort of country weighting that get...
by LFKB
Wed Jul 18, 2018 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: Why Does Vanguard Emerging Markets not Tie to Market Caps?
Replies: 7
Views: 899

Why Does Vanguard Emerging Markets not Tie to Market Caps?

For example, Vanguard's Emerging Markets (VEMAX) top holdings are 1. Tencent - $4.4 billion Vanguard weighting and $451 billion market cap 2. Alibaba - $3.0 billion Vanguard weighting and $494 billion market cap 3. Naspers - $1.7 billion Vanguard weighting and $110 billion market cap 4. Taiwan Semic...
by LFKB
Tue Jul 17, 2018 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Re: Social Security Questions for my Parents

You cannot retire mortgage debt by HELOC. So I take it you mean only retiring the CC debt. Even if you do that, the payment on that will go down by $500 or so (very very rough guess) That will bring the expenses down to 10.5K/month. That is still expenses of $126K on an income of $100K .. I didn't ...
by LFKB
Tue Jul 17, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Re: Social Security Questions for my Parents

Hi - I am asking this question on behalf of my parents who are each 64 and full retirement age is 66. They are not doing great financially and are both are still working part time. They still owe money on their mortgage and have credit card debt, which I am going to work on having them retire by dr...
by LFKB
Tue Jul 17, 2018 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Re: Social Security Questions for my Parents

Hi - I am asking this question on behalf of my parents who are each 64 and full retirement age is 66. They are not doing great financially and are both are still working part time. They still owe money on their mortgage and have credit card debt, which I am going to work on having them retire by dr...
by LFKB
Mon Jul 16, 2018 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Re: Social Security Questions for my Parents

Were either of your parents born before 1/1/1954? If so that parent could file a restricted application as a spouse at FRA providing their spouse has already filed and thereby allowing their own benefit to grow until age 70. Particularly if your father being the higher earner was before that date i...
by LFKB
Mon Jul 16, 2018 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Re: Social Security Questions for my Parents

...they need the monthly cash and...Their income is a bit over $100k per year. As JoeRetire implied, this seems an unusual combination, unless they have no other resources to draw from if they stopped working and deferred SS. Might be useful to have a fuller picture of their finances. They are your...
by LFKB
Mon Jul 16, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Re: Social Security Questions for my Parents

My questions are If my dad passes away, my mom will receive his social security benefit (but not hers) as it is higher than hers, correct? Correct. 2. I believe point #1 applies regardless of if my dad starts to draw on his social security prior to his death or not, correct? So if my dad never file...
by LFKB
Mon Jul 16, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Questions for my Parents
Replies: 19
Views: 1447

Social Security Questions for my Parents

Hi - I am asking this question on behalf of my parents who are each 64 and full retirement age is 66. They are not doing great financially and are both are still working part time. They still owe money on their mortgage and have credit card debt, which I am going to work on having them retire by dra...
by LFKB
Sun Jul 15, 2018 10:43 pm
Forum: Investing - Theory, News & General
Topic: Any source for: "If markets fall X%, a X/X portfolio will fall X%?
Replies: 10
Views: 907

Re: Any source for: "If markets fall X%, a X/X portfolio will fall X%?

I think what you’re referring to is that people assume the stock portion of a portfolio can fall up to 50% and safe bonds like Total Bond should remain about flat. So if you’re 100% stocks, your portfolio could fall by 50% If you’re 50% stock, your portfolio could fall up to 25% If you’re 80 stock, ...
by LFKB
Fri Jul 13, 2018 6:11 pm
Forum: Investing - Help with Personal Investments
Topic: Tell me what's wrong with my strategy
Replies: 105
Views: 7723

Re: Tell me what's wrong with my strategy

magicrat wrote:
Fri Jul 13, 2018 11:34 am
Picking some random stocks without justification doesn't sound like a strategy to me. Good luck though.
Who said he doesn’t have a justification for them? I’ve owned amazon, google and NVIDIA for years and they have dominated my index positions. They’re my only meaningful single stock positions.
by LFKB
Mon Jul 09, 2018 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: What are your property taxes?
Replies: 212
Views: 13914

Re: What are your property taxes?

$48k per year here in Cali the GOAT state. Doesn’t feelgoodman
by LFKB
Sun Jul 01, 2018 2:45 pm
Forum: Investing - Theory, News & General
Topic: Is there a way to avoid bad companies in S&P 500?
Replies: 92
Views: 4857

Re: Why would creating an intelligent S&P 475 be so difficult to do?

I have also been quite successful picking winners (google, Amazon, NVIDIA, etc) but I still keep those to 20% of my portfolio. So, you have only picked winners? :happy Yes. Every individual stock I’ve owned has returned at least 40%, a few were 40-70% in one year and others have been 2-5x but over ...
by LFKB
Sat Jun 30, 2018 12:04 pm
Forum: Investing - Theory, News & General
Topic: Is there a way to avoid bad companies in S&P 500?
Replies: 92
Views: 4857

Re: Why would creating an intelligent S&P 475 be so difficult to do?

I don’t think it’s that tough. Scan through the SP500 and you could surely pull out a handful of names that will be dogs. I have never shorted a stock because I can’t get comfortable with the unlimited downside but only 100% upside concept but all of my short ideas (Under Armour, Pandora, Snapchat, ...
by LFKB
Wed Jun 20, 2018 7:34 pm
Forum: Investing - Help with Personal Investments
Topic: Selling Amazon?
Replies: 17
Views: 1434

Re: Selling Amazon?

Invest stock allocation in the total market. It's okay to live a little Most of my portfolio is in indexed funds, but all of my individual holdings have absolutely crushed my index holdings Amazon, Google, NVIDIA and IQ I still own and have all killed it for me Whole Foods - bought shortly before A...
by LFKB
Wed Jun 13, 2018 1:22 pm
Forum: Personal Consumer Issues
Topic: “Day to kill” in Venice Italy
Replies: 51
Views: 3806

Re: “Day to kill” in Venice Italy

Italy has extradition with the US, so I would reconsider your plans OP
by LFKB
Thu Jun 07, 2018 9:32 pm
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6152

Re: Severance Package Question

I work in PE. Unfortunately, you have no leverage unless they think you may file a claim against them and they would rather just give you extra severance to make the issue go away. So you have to decide if that’s something you want to do or not. Personally, I wouldn’t but we’ve dealt with some pret...
by LFKB
Wed Jun 06, 2018 12:04 am
Forum: Personal Consumer Issues
Topic: Severance Package Question
Replies: 60
Views: 6152

Re: Severance Package Question

I work in PE. Unfortunately, you have no leverage unless they think you may file a claim against them and they would rather just give you extra severance to make the issue go away. So you have to decide if that’s something you want to do or not. Personally, I wouldn’t but we’ve dealt with some prett...
by LFKB
Mon Jun 04, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 433
Views: 54191

Re: How much money do you want to retire?

$7.2M to generate $24k per month at 4% plus paid off house Have $2.2M in home equity, $2M in investments and cash and $2.6M mortgage today, so still have $7.8M to go Just turned 32 so I have some time. Compound interest do your thing. $4.8M home at age 32!!! Or the mortgage may be on a second prope...
by LFKB
Mon Jun 04, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 433
Views: 54191

Re: How much money do you want to retire?

$7.2M to generate $24k per month at 4% plus paid off house Have $2.2M in home equity, $2M in investments and cash and $2.6M mortgage today, so still have $7.8M to go Just turned 32 so I have some time. Compound interest do your thing. $4.8M home at age 32!!! Or the mortgage may be on a second prope...
by LFKB
Sun Jun 03, 2018 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 433
Views: 54191

Re: How much money do you want to retire?

$7.2M to generate $24k per month at 4% plus paid off house

Have $2.2M in home equity, $2M in investments and cash and $2.6M mortgage today, so still have $7.8M to go

Just turned 32 so I have some time. Compound interest do your thing.
by LFKB
Mon May 28, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyers- Mortgage Questions
Replies: 29
Views: 2629

Re: First Time Home Buyers- Mortgage Questions

hi Benjis, with your income this house should be very doable. Hopefully you guys can throw 5-10k/month at the 525k mortgage and be done with it in 5-8 years so in that case the rate difference doesn't matter much. its only when you hold it for 30 years that the interest difference adds up (30 y at ...
by LFKB
Mon May 28, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyers- Mortgage Questions
Replies: 29
Views: 2629

Re: First Time Home Buyers- Mortgage Questions

I wouldn’t pay to lock it in, unless it’s very cheap. The expected fed rate increases are already priced into that rate you’re getting, so your rate should only get worse if the fed does something unexpected in terms of hiking rates. The reverse could be true at your rate could get better. In terms ...
by LFKB
Tue May 22, 2018 11:39 pm
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 13491

Re: how do you tip on wine at a restaurant

Some will call me cheap, but I tip $10 for wine regardless of the price of the bottle, maybe $20 if it's a real swanky place and my employer is paying. They don't put in any more work on a $400 bottle vs. a $40 one. Why is it different for wine than food? Do they put in more work carrying out a $10...
by LFKB
Thu May 17, 2018 11:05 pm
Forum: Personal Consumer Issues
Topic: Lexus RX 350, Audi Q5, or Volvo XC 60 (update)
Replies: 121
Views: 9936

Re: Lexus RX 350, Audi Q5, or Volvo XC 60

We recently got the XC60 for my wife and love it. The safety, tech and look are superior to the others you named IMO
by LFKB
Thu May 17, 2018 10:53 pm
Forum: Investing - Help with Personal Investments
Topic: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%
Replies: 26
Views: 3943

Re: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%

The expense ratio is .16% so OP will be losing $10 for the hassle of moving it over. Still worth it?? OP will not lose $10 because the SEC yield includes the expense ratio. I move easy things for $30 all the time. You sure about that? The definition on Vanguard says nothing about the SEC yield incl...
by LFKB
Thu May 17, 2018 10:09 pm
Forum: Investing - Help with Personal Investments
Topic: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%
Replies: 26
Views: 3943

Re: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%

To put this in perspective, the difference of .12% on $25k is $30 per year...and it would be less after the expense ratio This is Bogleheads. Based on the comments I read, there are plenty of people who would go through the hassle to switch for $30. :D The expense ratio is .16% so OP will be losing...
by LFKB
Thu May 17, 2018 12:33 am
Forum: Investing - Help with Personal Investments
Topic: How can I clear $40-60,000/yr with $1,000,000 cash... Low Risk?
Replies: 71
Views: 11163

Re: How can I clear $40-60,000/yr with $1,000,000 cash... Low Risk?

would like to take the cash and put it into a Short/Mid Term investment that would provide a Low Risk , Principle protected investment that would provide a 4-6% after tax , annual return to supplement my current retirement income. This does not exist, and anyone offering it is trying to rip you off...
by LFKB
Thu May 17, 2018 12:23 am
Forum: Investing - Help with Personal Investments
Topic: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%
Replies: 26
Views: 3943

Re: Ally No Penalty CD @1.75% vs VMMXX @ 1.87%

To put this in perspective, the difference of .12% on $25k is $30 per year...and it would be less after the expense ratio
by LFKB
Wed May 16, 2018 5:05 pm
Forum: Personal Consumer Issues
Topic: how do you tip on wine at a restaurant
Replies: 209
Views: 13491

Re: how do you tip on wine at a restaurant

I'm glad I don't drink in restaurants. To read that a person pays $50 for food and 1.5 times that for wine is so strange to me. Can people not hold off for an hour or two? But to OP, I agree. The few times I have been forced to order wine for others (I always pay :oops: ), I applied a $10 tip for i...