Search found 127 matches

by Minty
Sun Apr 29, 2018 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Should I change careers?
Replies: 52
Views: 3791

Re: Should I change careers?

No offense, OP, but I am very hesitant. Lending to or taking positions in private companies is an entirely different thing than trading securities. For example, with securities, at least at the numbers you are talking, you cannot get your calls returned from executives (or get their personal guarant...
by Minty
Thu Apr 26, 2018 8:49 pm
Forum: Investing - Help with Personal Investments
Topic: Pension and Social Security
Replies: 11
Views: 1635

Re: Pension and Social Security

Doesn't it depend on whether the pension was earned while not paying in to Social Security? https://www.ssa.gov/planners/retire/wep.html My understanding is that if a person collects a pension based on work which is exempt from Social Security, SS benefits may be reduced.
by Minty
Sat Apr 07, 2018 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 13232

Re: Ivy school education. Is it worth it?

The people who run the world are disproportionately from elite schools. Whether it is causation or correlation hardly matters given the importance of signalling. If it is simply a question of income, perhaps school fanciness matters less; plenty of tradespeople earn more than the President, Senators...
by Minty
Fri Mar 30, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: When did you know your kids would go to college?
Replies: 91
Views: 4311

Re: When did you know your kids would go to college?

Statistically, it seems that a child's likelihood of college attendance and graduation can be predicted by determining parental income. Wealth Gap in College Graduation Rates Growing, Study Finds . In our family, we always assumed that the children would go to college. From a Boglehead perspective, ...
by Minty
Thu Mar 29, 2018 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 121
Views: 6878

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

Appreciated securities could be donated to schools ... on condition that they be used for tuition. And this is clearly not allowed. Per IRS Publication 526: The contributions must be made to a qualified organization and not set aside for use by a specific person. I think it is allowed, so long as t...
by Minty
Thu Mar 29, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition
Replies: 121
Views: 6878

Re: Gifting Appreciated Stocks to Grandparent to pay Child's Private School Tuition

Whether or not the step transaction doctrine applies, I have grave doubts that this arrangement would constitute a bona fide gift. I did a little research; this article is on point. Question whether gift is valid, or a mere sham, as regards income tax of donor , 125 A.L.R. 779 (1940 & current supple...
by Minty
Fri Mar 23, 2018 10:09 pm
Forum: Personal Consumer Issues
Topic: Underrated places to visit in U.S.?
Replies: 126
Views: 11496

Re: Underrated places to visit in U.S.?

I'm a New York and San Francisco person; I like cities, architecture, history and food. I've also really enjoyed Boise, Charleston, S.C., Pittsburgh, New Orleans, Vegas, Bozeman, Butte, and Helena, MT, and Knoxville, TN.
by Minty
Wed Feb 21, 2018 1:10 am
Forum: Investing - Help with Personal Investments
Topic: How big is the 'Madoff risk' -- All of your money at one advisor?
Replies: 21
Views: 2597

Re: How big is the 'Madoff risk' -- All of your money at one advisor?

tl;dr If my net worth is under a million dollars and I have a financial advisor with 90% of my investible assets (non emergency fund), what is my risk of getting hoodwinked by a Madoff :confused :confused Now, I am a hippie. But once upon a time, I was a straight, conventional lawyer working for a ...
by Minty
Tue Feb 20, 2018 9:00 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 483
Views: 41870

Re: What frugal thing did you do today?

This definitely transcends "frugal" and should be classified as "cheap" It's worse than cheap - downright dishonest. I wouldn't want a stranger's clothes drying with mine. How do I know what cooties are in it? That is JUST TERRIBLE and possibly illegal! Ok, calm down. I understand you wouldn't want...
by Minty
Tue Feb 20, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance question
Replies: 7
Views: 412

Re: Life insurance question

It would be helpful to know more about your dependents and savings. If you have dependents and not enough money to self-insure, I agree with mhalley. White Coat Investor has what is to my mind a very informed post about purchasing life insurance.
by Minty
Tue Feb 20, 2018 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: 457b deferred comp proposal
Replies: 4
Views: 433

Re: 457b deferred comp proposal

The ERs on the funds aren't too bad, but I hate the idea (if I am reading the post correctly) of investing $300 per year, and paying $24 in account fees. That is a significant haircut right off the top. Anybody think OP should consider saving in a Roth IRA instead? Or maybe taxable for a couple of y...
by Minty
Mon Feb 12, 2018 7:38 pm
Forum: Investing - Help with Personal Investments
Topic: Anybody else Age - 10 in bonds, rest in stocks
Replies: 127
Views: 12539

Re: Anybody else Age - 10 in bonds, rest in stocks

Age minus 13 in bonds. Investment portfolio only, SS and pension excluded from the calculation.
by Minty
Mon Feb 12, 2018 11:55 am
Forum: Personal Finance (Not Investing)
Topic: How much life insurance - and for how long?
Replies: 29
Views: 2407

Re: How much life insurance - and for how long?

Option A: Me - $750K/20yr ($385) + $500K/30yr ($530) Spouse - $750K/20yr ($285) + $500K/30yr ($340) TOTAL = $1,540/yr for 20 years, then $870/yr for 10 years = $39,500 I vote for Option A. Reasonable price, plenty of coverage. You can drop the 30 year policies later on if they are no longer necessa...
by Minty
Wed Jan 17, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for Child: Mom and Dad Co-signed Loans
Replies: 9
Views: 1028

Re: Life Insurance for Child: Mom and Dad Co-signed Loans

Quick update: Turns out all of the loans (federal and private, from the school itself) would be forgiven if tragedy struck. The note we signed did not mention that one way or the other. Many thanks as always for the wisdom from this great forum.
by Minty
Fri Jan 05, 2018 4:53 pm
Forum: Forum Issues and Administration
Topic: Misuse of adverse when averse was meant
Replies: 149
Views: 8236

Re: Misuse of adverse

In the passed, I have seen alot of misused words and phrases on this cite. Usually, I except a bazaar usage, because it does not effect me. The only time I would consider counciling a poster whom misspeaks is when they are writing about there job search or seeking career advise. In some fields, brak...
by Minty
Thu Jan 04, 2018 1:53 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 483
Views: 41870

Re: What frugal thing did you do today?

1. Bought a MacBook Pro for daughter, refurbished instead of new (from the Apple website, based in part on recommendations from the board) and will pay for it with her 529. (I would have preferred a Lenovo for half the price, but one does what one can.) 2. Because of a slight flu, the doc at the urg...
by Minty
Tue Jan 02, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Needed?
Replies: 6
Views: 406

Re: Life Insurance Needed?

Life insurance is needed for both parents, I think. If wife were to die, her labor would have to be replaced, and/or OP might want to take time off from work. If OP were to die, wife might have to stop work or hire day care. The $1M nest egg might allow for a $30 or $40 K annual drawdown, which migh...
by Minty
Tue Jan 02, 2018 4:41 pm
Forum: Investing - Theory, News & General
Topic: 2018 Hedge Fund contest
Replies: 142
Views: 12939

Re: 2018 Hedge Fund contest

Name: UnoSimian (30/65 in last year's contest, up 5.63%, not counting my compensation of course)

Long: Cambrex Corp CBM
Essendant Inc ESND
Chemung Finl Corpo. CHMG

Short: Contango Oil & Gas Co. MCF
Stamps.com Inc. STMP
Tronc Inc. TRNC
by Minty
Tue Jan 02, 2018 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Should I invest in 529s or use taxable account?
Replies: 13
Views: 951

Re: Should I invest in 529s or use taxable account?

Advantages of 529s: - Tax deferred - $8k state tax deduction ($4k per child) in an 8.5% state tax bracket I assume you know this, but just to be precise, 529s are not just tax deferred, but tax free if used for qualifying educational expenses. And I agree that the higher education sector might well...
by Minty
Mon Jan 01, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Saving a little, here and there...
Replies: 21
Views: 3966

Re: Saving a little, here and there...

1. I regularly check the special offers on American Express. I often find that I can get cash back for travel, dining, or other expenditures I was planning to make anyway. But you have to load an offer onto your card on line in order to redeem it. They seem to have offers in the Hilton Hotel line pr...
by Minty
Wed Dec 27, 2017 3:50 pm
Forum: Investing - Theory, News & General
Topic: Is anyone putting money aside into Gold?
Replies: 148
Views: 14856

Re: Is anyone putting money aside into Gold?

I have 1% or less of my portfolio in collectible gold, platinum and silver coins from the mint . I regard it as a hobby where I get to own beautiful things. My "investment" has some downside protection (the coins will always be worth their metal value) and potential for modest appreciation. OTOH, as...
by Minty
Wed Dec 27, 2017 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for Child: Mom and Dad Co-signed Loans
Replies: 9
Views: 1028

Re: Life Insurance for Child: Mom and Dad Co-signed Loans

Thanks for all of the helpful replies. I will check if we are responsible for the loans even if the borrower is deceased. Celia, we have another child who can have the same deal if she wants it. The younger child is probably in better shape, in terms of accumulation, because we started saving in 529...
by Minty
Tue Dec 26, 2017 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for Child: Mom and Dad Co-signed Loans
Replies: 9
Views: 1028

Life Insurance for Child: Mom and Dad Co-signed Loans

My daughter attends an expensive college. Spouse and I are paying for most of it with 529 plans and current income, but she is also taking out student loans, some of which we guarantee. There might be 50K in loans by graduation. My question is: Should we get a life insurance policy on our daughter t...
by Minty
Sun Dec 17, 2017 2:16 pm
Forum: Personal Consumer Issues
Topic: New job offer - background check
Replies: 140
Views: 8203

Re: New job offer - background check

Here's a guide to restoration of rights and expungement in all 50 states. http://ccresourcecenter.org/wp-content/ ... Oct-17.pdf I'd say it is always worth getting a criminal record cleared if possible.
by Minty
Sun Dec 10, 2017 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: What are your big-picture ‘rules of life’ —financial or otherwise?
Replies: 123
Views: 13859

Re: "Desidoreta"

lostinjersey: This is my favorite poem. It has helped me through life. It can do the same for you and your family. Desidoreta Best wishes. Taylor What a beautiful poem. It is indeed a beautiful poem. There is a very funny [IMHO] parody of it, Deteriorata , which I post to illustrate the life lesson...
by Minty
Sun Dec 10, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Pay taxes on free food?
Replies: 30
Views: 3495

Re: Pay taxes on free food?

Below is an excerpt from a law review article written by an FSU law professor. I have no idea if it is correct. I suspect it is, because there are a million articles about the taxability to recipients of airline frequent flyer miles, but none that I could find about the taxability to the recipient o...
by Minty
Sat Dec 09, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Pay taxes on free food?
Replies: 30
Views: 3495

Re: Pay taxes on free food?

I don't know. But I'm going to bet that free food (water bottles, pens, t-shirts) is a business gift that is not taxable to the recipient.
by Minty
Fri Dec 08, 2017 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Do you have any guilty pleasure investments?
Replies: 53
Views: 3563

Re: Do you have any guilty pleasure investments?

Less than 1% of our portfolio is in high dividend index funds. They've done fine.
by Minty
Tue Dec 05, 2017 2:23 pm
Forum: Personal Consumer Issues
Topic: Vegas on a budget
Replies: 49
Views: 4077

Re: Vegas on a budget

Of all the burgers I've had (and I've had some) my favorite is at Smith & Wollensky. My experience is that even at dinner when it may not be on the menu they will serve it if you ask. Smith & Wollensky is gone. Thanks, I did not know that. But it is coming back supposedly. https://www.smithandwolle...
by Minty
Tue Dec 05, 2017 1:51 pm
Forum: Personal Consumer Issues
Topic: Vegas on a budget
Replies: 49
Views: 4077

Re: Vegas on a budget

Mon Ami Gabi is fun. Of all the burgers I've had (and I've had some) my favorite is at Smith & Wollensky. My experience is that even at dinner when it may not be on the menu they will serve it if you ask. A fun Italian joint, sort of in the "Old, Local-ish Vegas" vein of the Peppermill is Casa Di Am...
by Minty
Sun Dec 03, 2017 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: About to take out Term Life Insurance - Questions for Bogleheads
Replies: 13
Views: 1493

Re: About to take out Term Life Insurance - Questions for Bogleheads

I like White Coat Investor's post on life insurance. https://www.whitecoatinvestor.com/how-to-buy-life-insurance/ With $300,000 annual income, $1 million is not nearly enough. OP has no house or significant college savings, and it looks like the bulk of the savings is retirement, i.e., it will be ta...
by Minty
Sat Dec 02, 2017 6:38 pm
Forum: Investing - Theory, News & General
Topic: Wellesley Fund gender diversity and climate focus
Replies: 9
Views: 1208

Re: Wellesley Fund gender diversity and climate focus

The academic analysis from Wharton cited by OP says that the studies show a small positive effect of gender diversity in corporate leadership. As a Boglehead, I welcome positive effects on returns small and large; they add up over time. I must admit, though, that I am biased; I believe there is stil...
by Minty
Sat Dec 02, 2017 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Mint.com or PersonalCapital.com
Replies: 11
Views: 1298

Re: Mint.com or PersonalCapital.com

Mint, definitely Mint, and a spreadsheet to monitor investments.
by Minty
Fri Dec 01, 2017 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 8720

Re: The College Bubble - investment opportunities after the collapse?

The Switzerland system provided a dual system where the high school student is paid for co-op education. It is one of the better models. KlangFool Absolutely, the US could offer a different system of support than it does, and that would IMHO be better. Other countries offer a much better system, an...
by Minty
Fri Dec 01, 2017 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 8720

Re: The College Bubble - investment opportunities after the collapse?

Minty, Please note that not all college students graduated. The graduation rate varies greatly. So, when you say show me the numbers, do you consider those dropouts as part of the average? They had the student loans but no degrees. KlangFool KlangFool, If you are suggesting that not every high scho...
by Minty
Fri Dec 01, 2017 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 8720

Re: The College Bubble - investment opportunities after the collapse?

Is there any reliable data suggesting that earning a college degree is economically inadvisable? I'd be eager to see it. Minty, Do you mean A) Paying 60K per year for 4 years and then work in a video rental store as a store clerk? Or B) Worked in college while studying my BSEE and MSEE. Graduated w...
by Minty
Fri Dec 01, 2017 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 8720

Re: The College Bubble - investment opportunities after the collapse?

Is there any reliable data suggesting that earning a college degree is economically inadvisable? I'd be eager to see it.
by Minty
Fri Dec 01, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Advice Needed
Replies: 16
Views: 1285

Re: Financial Advice Needed

bubbadog wrote:
Fri Dec 01, 2017 1:52 pm
You are fine. Go ahead and deposit the money into your account.
I agree with this advice with the caveat that I assume OP has paid all required taxes. If not, OP should do so now, because a cash transaction report will be filed, and could lead to an inquiry.
by Minty
Sun Nov 26, 2017 1:07 am
Forum: Personal Consumer Issues
Topic: Kidde fire extinguisher recall
Replies: 58
Views: 6716

Re: Kidde fire extinguisher recall

Thanks! All three of mine were recalled.

I hope members with actionable finance or consumer-related information like this will continue to post.
by Minty
Fri Oct 13, 2017 6:15 pm
Forum: Personal Consumer Issues
Topic: How many miles/years do you keep your car?
Replies: 108
Views: 8888

Re: How many miles/years do you keep your car?

'95 Accord, bought new, 220K
'04 Pilot, bought used at 232K from a friend who did all scheduled maintenance, 236K
'14 CRV, bought new, 110K.
by Minty
Sat Sep 30, 2017 3:58 pm
Forum: Personal Consumer Issues
Topic: I bought a car without thinking too much about value
Replies: 45
Views: 4667

Re: I bought a car without thinking too much about value

I learned from posts here that there are Honda and Toyota dealers in various parts of the country selling manufacturer's extended warranties for a significant amount less than typical retail. So my vote would be cancel the warranty if OP can, and then either leave it be, or at least buy the same pro...
by Minty
Tue Sep 26, 2017 11:07 pm
Forum: Personal Consumer Issues
Topic: Is $9000 too much for a sectional sofa ?
Replies: 130
Views: 11322

Re: Is $9000 too much for a sectional sofa ?

I've just done a Google search, and if I did it correctly, I can affirm that there is a relevant pearl of wisdom that appears rarely on this forum, notwithstanding its merit: "If you have to ask, you can't afford it." (Attributed to J.P. Morgan.)
by Minty
Sun Sep 24, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Spouse Money Management
Replies: 94
Views: 7285

Re: Spouse Money Management

I think we need more information. You are not married, engaged, or living together, she's living with her parents. So I am confused about why you should join finances or be responsible for each other's expenses. This is a common issue for married/otherwise permanent couples, but not, as I understand...
by Minty
Sun Sep 24, 2017 12:17 pm
Forum: Personal Consumer Issues
Topic: Home security advice
Replies: 15
Views: 1916

Re: Home security advice

Sorry to answer a different question, but there is a theory that buying a security alarm company sign on Ebay and putting it in front of your residence gets you most of the deterrent benefit for virtually no cost. Also, our household keeps most valuables in a bank box.
by Minty
Sun Sep 24, 2017 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions on moving to VG
Replies: 19
Views: 2048

Re: Opinions on moving to VG

[Edited to correct error that ruralavalon noted--thanks] I was going to comment that if I had to move money today, I'd probably go to Fidelity. Fidelity's high-minimum international index fund has an ER of one basis point less than Vanguard's (FTIPX: 10 basis points; VTIAX: 11 basis points), and the...
by Minty
Sun Sep 24, 2017 10:55 am
Forum: Investing - Help with Personal Investments
Topic: Help consolidate accounts & 3-fund portfolio setup
Replies: 5
Views: 685

Re: Help consolidate accounts & 3-fund portfolio setup

~50% of our retirement is in a 403b at Fidelity (former employer). Should we retain the 403b for the extra bit of protection from creditors, or should we roll it to an IRA? Within the 403, the available funds that catch my eye are: FSKTX (total market index, 0.04 E/R), FSPNX (int'l index, 0.06 E/R)...
by Minty
Mon Sep 11, 2017 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Should I do 20 or 25 Year Term Life Insurance?
Replies: 49
Views: 4861

Re: Should I do 20 or 25 Year Term Life Insurance?

One anecdote: In an office of 50 professionals, with some coming and going every year, there were two premature deaths of parents of young children in the last 7 years. Their survivors were glad to have the insurance.
by Minty
Mon Sep 11, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Paying 4 years tuition for college to get discount?
Replies: 22
Views: 2879

Re: Paying 4 years tuition for college to get discount?

Another possibility is the Independent 529 plan. I understand the way it works is parents pay some or all of the expected costs now, and if a child later goes to any one of the 300 participating private schools, they get proportional credit based on the tuition at the time of contribution. On the ot...
by Minty
Sun Sep 10, 2017 11:48 am
Forum: Investing - Help with Personal Investments
Topic: University of California Retirement Plan Proprietary Funds
Replies: 12
Views: 1656

Re: University of California Retirement Plan Proprietary Funds

Thanks, everyone, for the helpful comments. I feel a tiny bit like I am putting all my eggs in one basket by having UC employment and UC retirement savings. However, I know the the actual assets in the UC 403(b) funds are held by third parties, just like any other 403(b), so it is not like having a ...