Bogleheads.org

Have you looked at the Fidelity Youth Account?

kelway wrote: ↑Sun Jan 08, 2023 5:07 pm

bshnew wrote: ↑Sat Jan 07, 2023 5:25 pm Hello,

My goal for 2023 is to part with my financial advisor, who chargers a whopping 1.7%. I know; please don't scold me! The sticky situation is that he's a good family friend, and I worry that this purely business decision will impact the friendship. After self-study, I feel completely capable of managing my finances on my own. Any thoughts or advice on how to proceed?

Thanks,
Brooke

I'm sorry, but he's not your friend.

and he's already been paid for his services. No reason for OP to feel bad.

ApeAttack wrote: ↑Fri Mar 10, 2023 1:41 pm

cchrissyy wrote: ↑Fri Mar 10, 2023 12:04 pm link for people who didn't hear about the bank failure
https://www.nytimes.com/2023/03/10/busi ... stock.html


OP, to expand on my reasoning, in such a short time frame i wouldn't be trying to get the absolute best rate because it won't be a material difference. i would just use money market at whatever brokerage i already liked. that's why my post above was the schwab rates.

Thanks. It's such a small story that I wouldn't call it a "scare" though.

I'm sure it's big news in the Bay Area, which is where the OP is looking... But, correct, not big news anywhere else.

good eye, Ruud

probably trying to differentiate between
(ultra) short - duration 1 year
"Limited Term" - duration 2 y.

Doge's palace was pretty cool, in addition to the amazing San Marco. Kids would probably like it -- for a little while anyway.

We saw an opera one of our evenings in Venice and it was breathtaking. This was pre-kids, FWIW.

I second what others have said about veering away from touristy areas for a more authentic experience.

FIL passed last summer. After a brief catholic grave-side service, which was minimally attended, we all gathered at the home of one of his sons and had a large 'celebration' which closely resembled a graduation party. There was an open bar staffed by college-aged grandkids and a food truck.

We are in our 40s and assume we will take it as early as possible for purposes of setting a portfolio goal. When we get to that age, the goal is to be retired at 62 (or before). If we get there and actually do not need it, we will be able to defer. While a life-time maximizing function is great, I'd rather have resources when I'm physically able to do stuff with it. You have read this? Here is a pretty simple calculation for those that wish to spend more money in retirement and do not care about leaving an estate. For those that have a Big enough Portfolio and can afford to wait until 70 to take SS, you'll have more to spend every year of retirement. https://www.bogleheads.org/forum/viewtopic.php?t=102609 no. I usually don't read any of th...

We are in our 40s and assume we will take it as early as possible for purposes of setting a portfolio goal.
When we get to that age, the goal is to be retired at 62 (or before).

If we get there and actually do not need it, we will be able to defer.

While a life-time maximizing function is great, I'd rather have resources when I'm physically able to do stuff with it.

burritoLover wrote: ↑Thu Mar 02, 2023 8:48 am 5 million is the new million.

Yup, a million dollars is not what it used to be. They let almost anybody do it.

Check out "The Millionaire Next Door" by Thomas J. Stanley, preferably at your library.

its getting ugly, we have 4
Wells Fargo (although it was called Norwest when opened)
USBank
Fidelity CMA
Local Credit Union

The WF account has about 30 years of inertia, and they're close by. But the lines are always long and just, ugh.
The USBank is tied to a USBank HELOC from a remodel that is nearly paid-off. We use this account for nothing but payments - don't even have a debit card or check book.
unimpressed/neutral on the CU.

I dipped my toes into the Fido CMA world, but have yet to commit.
I think, this year, I can get down to 3 for sure, but would really like to get to two.

The thing you need to realize is that bogleheads trends very conservative, and much older and wealthier than average (these are the people interested in investing not surprising). But it does skew the perspectives you get, so just keep that in mind. ,,, 2.5M is much more than you or most posting here realize. They are arguing if you are or are not set for life. Frankly its possible it is more than the net present value of your entire working career, and at the very least is in the same order of magnitude. Let that sink in, that pile of money is worth more or less then same as your entire career. Learning everything you can about finance and investing is more important than finding a job right now. Manage it well and you never need to work,...

do you only have one vehicle? if you do, then capacity should match the transport duty.

We also have 3 kids (+dog) and when my wife was fed up with minivan life, we gradually moved from Pilot+Odyssey to Expedition+Acura MDX.
if we are all going somewhere together, we take the Expedition, due to 3rd row space.

This is just one of the 3-kid expenses that you get to deal with.
Although, I gotta say, despite its poor snow performance in minnesota winters, for 5+ passengers, the minivan was hard to beat.

Jimbo Moneybags wrote: ↑Fri Feb 24, 2023 12:25 pm Unless you are retired and will be spending the dividends or you TLH, it is IMO a waste of time to turn-off automatic reinvestment of dividends. Just rebalance accounts to get back to your chosen asset allocation according to criteria you set, like once a year or when it gets out of whack by more than ±5%.

The point of accumulating distributions and investing them in the lagging funds is to avoid needlessly generating taxable events when you re-balance.

Wash sale is a purchase <30d before OR after a sale for loss. Under this rule, you cannot claim the loss for tax purposes.

You have purchases on Feb 20 and ~May 1. There would be a window where you could sell in late March; however, you state you are forbidden from transactions during this period. https://www.investopedia.com/terms/w/washsalerule.asp

It is up to you if the cap-loss deduction against gains is worth it in terms of dollars, or you just want to sell the shares and get out for whatever reasons and forego the tax benefits of taking the loss in June.

At some point in the future you will want to start using some of that money to improve your life and the is what I want to talk about. Currently your $2.5 million at a 3% withdrawal rate should cover $75k/yr in spending probably for the rest of your life. If you are wise on how you utilize those funds, that value can grow and so can your spending. To be honest, I think the intent is good but the advice is bad. 3% is probably too high for a perpetual withdrawal (which, effectively, for a 22 year old is that). And it encourages the original poster to use up a little of this nest egg along the way. To perhaps have an extra bedroom or drive a Lexus instead of a Toyota. I think better advice is to pretend the money is in a trust or IRA that can...

For me, Trust documents fall under the category of: absolutely get it done correctly.
Have you shopped around? 3k seems steep. I might have paid half of that, but I don't recall the exact bill.

moneyman11 wrote: ↑Fri Feb 18, 2022 8:12 am I don’t think of VXUS as an “international fund” … instead I consider it a way to own the 7717 companies that aren’t in VTI.

The reason I invest in it is the same reason I own VTI instead of an S&P 500 fund, or a large cap growth fund - I’ve committed to total market index investing to the greatest extent I can with low expense easily available index funds.

If someone considers themselves a total market investor, but doesn’t own VXUS, they can rationalize it however they want, but they are no different than any other “tilter” who chooses to exclude a certain portion of the market in their investments.

If 100% of one's equity holdings isn't VT, they are tilting towards something. And that doesn't make it wrong.

I think I've called VG Flagship line 1 time in 25 years. Can't imagine needing to call someone every 4 to 6 months.
But I can't blame you if it took 50 calls to get your stuff the way you want it.

have you been to nerdwallet? They seem pretty fair, but do disclose that they receive compensation from some of the institutions they recommend.

I would use neither, but I don't know your Asset Allocation plan details.
There are better funds available for both Large Value and Large Blend.

Since you are in tax-advantaged account, no harm in swapping both for something that follows your AA.

awesome.

When my kids took lessons a few years ago, the approach did not even include Pizza/snowplow. They learned directly on "french fries", and shuffling in turns by moving each foot a little at a time.

in no time, they were on both edges of each ski and skiing naturally. Some adult friends took the same lessons and improved their skills noticeably. These are all with group lessons that were not expensive (considering it included the day's lift-ticket)

ask you call ski schools, be sure to ask about their approach.

3535.35

This is probably as close to "substantially identical" as a wash sale maneuver can ever get. Come back and let us know how it works out.

There are so many less equivalent, but still investment-worthy funds and ETFs, I don't know why one would risk this.

My Brokerage Link 401k only allows mutual fund purchases. No ETFs or individual stocks. I could find nothing in any of the plan documents which explained this, but there must be some kind of agreement with my employer. Not a big deal, since Fidelity has a wide range of in-house index mutual funds.

However my wife's Brokerage Link, also at fidelity, does allow ETFs.

I'm a big fan of the option.

Captiva, FL is our go-to. We're beach-seekers from Minnesota. They were hit hard by hurricane Ian, so we're taking the year off as they rebuild.

I just ordered Costco Checks (Harland Clarke) and have enough to last for years and years. Cost less than $20.

you should just stay in a MM fund

We did a hybrid. For many years, we booked off-peak vacations and pulled the kids out of elementary school. Usually took advantage of an already scheduled 3 or 4 day school week. Very limited impact through grade 6. Grade 7 an 8, it depends on how good your student is at managing assignments and doing them early or quickly after the trip. However, once the kids hit High School, and particularly if in sports, we were forced to suck it up and pay premium prices for trips over Winter or Spring Break. The jig may be up for us, because in 2024, your baseball player will be a sophomore and will be working out at practice over spring break to make the JV team. Younger daughter plays hockey, so winter break has been out of the question for a couple...

It is rationalized because the market participants price those shares at those values, in what is believed to be an efficient market. Cap-weighted large cap indexes (Us & Foreign) all have this same problem, if you view it as a problem.

Reducing bubble risk is one reason why slice & dicers tilt away from Large Growth and seek out asset classes with low correlation.

A cynical part of me is wondering if Agents are pushing this to keep the sale price higher, thus not costing them anything in commissions.

Unless one is is periodically investing with very large amounts, which minimizes the added transaction fee, I truly don't see the point of this exercise. This is a completely avoidable cost. If VG funds are what you want, just buy the ETF or MF at Vanguard for $0.

are you actually worried about the additional cost to an investor due to the bid-ask spread on fractional shares of an ETF?
it might be a cent or something.

I'd be happier that more of my investment is actually invested in the ETF, vs the change (the cash amount under the share price of the next whole share) being left in my cash account earning meaningless interest.

Your will someday outgrow your current remote role. If the next role you want is also remote, your resume will be competing with a nation-wide pool of potential candidates. This would seem to be a tougher advancement option.

If you're not willing to walk away from a deal, are you truly negotiating?

I've run into this when the blood testing is done by an outside lab and they got incorrect insurance information from the Dr's office.

Follow up with your plan to find out what *should* be covered, then check back with the test lab.

Mom is already receiving almost 4k per month plus whatever the rent is on the 2nd house. Is there a need to add much to her income stream? I don't know what her expenses are. Maybe sit down and look at making a budget to understand the gap?

My plan would be:
-pay off mortgage to reduce monthly expenses
-buy a one-fund offering from VG
-setup auto withdrawals to round out her income so she remains financial comfortable. Or just spend the quarterly distributions without reinvestment?
-visit her regularly

watch out for casinos and leaches.

jumbopapa wrote: ↑Wed Sep 21, 2022 5:18 pm Hi,

I currently work a desk job and make an excellent living (~$350k), but I'm 27 and terribly bored just sitting all day. Is there anything out there that pays well and allows me to be on my feet?

When I think about getting older and looking back at my life, I'm not very excited about the fact that I basically sit 8 hours a day everyday.

What other options are out there?

Is this the job you started 6 months ago for double the compensation of your previous job?
I guess I'd recommend a side-hustle if you simply want to get out more.
Or start running or otherwise exercising?

At your comp level, you won't need to work there very long before you can downshift into something else.

Thanks for starting this thread -- as an Xer (vintage 1974) and a boglehead since the M* days, I appreciated scrolling through these topics & thoughts from my peers.

I looked into Fidelity Youth but does it have high interest savings options ? Like Ally or Sofi. So far Sofi is tempting with 2% interest offering and several ATM options. However, no customer support available to answer whether a minor can open an account or not. That's why I suggested a local branch. 2% interest is only $1 per month per $600. Not really enough benefit to deal with the inconvenience of an online only bank as a teenager. I think you are looking for the wrong benefits here. Kid needs checking account to get paid and convenient access to deposit cash and checks from small jobs. If you have an account at a local bank, just see if they offer student checking and set it up there for convenience. as a parent of 2 teens, I can co...

mumbadevi wrote: ↑Fri Aug 19, 2022 11:58 am 3M is offering exchange of their stock at 100 to 107forNeogen (Neog)which has products related to food and animal safety and the stock is down 50% for the year and pays 0 dividend. 3M pays 4% dividend and the stock is down 25% for the year anyone knows about Neogen and care to comment about this deal? Thanks

I own MMM and I am not taking them up on the exchange. If I don't know anything about Neogen, why would I invest in it?

i'm in the camp of never go cheap with cooking. better quality always pays off with better food.

It might be hard to deploy to a nest in the walls, but for in-ground nests, it was highly effective to sprinkle carbaryl (Sevin dust) around the entrance. They track it inside and it kills the whole nest. Yellowjackets are beneficial. I am not a fan of killing them. In my experience, if you stay away from the nest then they will stay away from you. Do you go near their second story nest often? If not, then there probably is no reason to kill them. Winter is coming. They will soon slow down and die off. If you don't like them in your siding, then seal the hole this winter once they die off. Insects in the house in general is not a good thing, beneficial or otherwise. Routine activities could cause enough noise or vibration to irritate them....

Having finished 2 basements myself, if you position the wet bar close enough to the existing plumbing for the bath (i.e. on the opposite side of the same wall), you can add it for almost no additional plumbing cost. Cabinets and countertop are an additional cost, but if that something you would like to have, its not unreasonable to add.

1000 sqft is a lot of drywall, flooring and lights, so I don't think the price for outsourcing all of it is outlandish.

I'll tip 10% for takeout. The cooks deserve a tip, even if the servers did nothing.

I'm sort of amazed that pressure treated decking has lasted 30 years. Must be a favorable climate.

lots of recency bias in these VTI / 3-fund portfolio comments being the end-all of portfolios. Charts of past performance do not predict the future.
Although, I also fail to understand any point of having 63% (30+10+23) in 3 funds covering large cap growth stocks, which could be found in 1 fund.

If the advisor provides and value beyond fund selection, remains to be seen. An advisor can still be useful if they prevent you from making very bad decisions, too, e.g. selling because the market dropped 30%.

if you are staying at a resort, chances are you will not need a single peso as everything will be charged to your room and paid by cc at the end of the stay.

we were in Cancun for spring break and didn't need a peso for anything on the resort (or any cash, for that matter). We did tip the maid with dollars.

You might be the first person on this board in a long time looking for low %ER, but high P/Es

in today's market, i don't know why anyone would fuss over a thousand bucks or whatever. Welcome to home ownership - you will be paying for things in that house until you sell it.

if you don't want the house anymore, then make demands of the seller.