Search found 399 matches

by bobbyrx
Mon Aug 22, 2011 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Wills, Estate planning help
Replies: 5
Views: 1172

Wills, Estate planning help

My wife and I just moved from New York, where we had a simple will and a durable Power of Attorney (POA), to Colorado. We are about to contact a lawyer to craft these documents to CO law. We are in our 60s, have 2 children in 40s, and have no previous children, businesses, etc. Our assets are almost...
by bobbyrx
Mon Aug 01, 2011 1:51 pm
Forum: Personal Consumer Issues
Topic: Does anyone here NOT like traveling?
Replies: 153
Views: 17421

I hate traveling too- but I do like cruises once I am on them. I am glad I hate travelling since it saves a lot of money in retirement. The worst trips that have absolutely no appeal for me is getting up in a new hotel every day at 6:00 am or earlier to board a bus to the next destination. I would p...
by bobbyrx
Fri May 27, 2011 9:38 pm
Forum: Investing - Theory, News & General
Topic: Laura's latest Forbes Column
Replies: 30
Views: 4175

I think that at least one target fund is a good choice for those who have absolutely no interest in learning about investing. My wife has SS and a pension and a modest IRA that I placed in Target Retirement Income (VTINX). I told her that if I kick off first, just roll my IRAs into VTINX, withdraw w...
by bobbyrx
Sun Apr 17, 2011 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Purchased a new home- help with questions
Replies: 13
Views: 1818

Thank you for your excellent insights. Yes, I have read the C&Cs and there is a 1 year warranty so indeed it may be better to inspect after 6 months. I had not thought of that.
Bob
by bobbyrx
Sun Apr 17, 2011 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Purchased a new home- help with questions
Replies: 13
Views: 1818

Purchased a new home- help with questions

My wife and I have lived in a NYC suburb for 40 years and are currently in contract to sell our home. We have put a down payment on a brand new home in Anthem Ranch, Broomfield Colorado, a 55+ active community. Both our adult children live there and we are familiar with area and development. Questio...
by bobbyrx
Sun Apr 10, 2011 7:12 pm
Forum: Personal Consumer Issues
Topic: Acrophobia
Replies: 21
Views: 2738

I have it too- in my case, phobia as part of generalized anxiety disorder aka worry-wart. Cognitive behavior therapy could help, though I have not tried it. One note, I have visited many national parks and I recall doing extensive hiking at Bryce Canyon without encountering precipitous dropoffs alth...
by bobbyrx
Thu Apr 07, 2011 8:23 pm
Forum: Personal Consumer Issues
Topic: Asteroid Impact
Replies: 15
Views: 2342

Is an asteroid more devastating than a henorrhoid?
by bobbyrx
Wed Mar 09, 2011 11:27 am
Forum: Personal Investments
Topic: Vanguard oughta offer "midshipman" accounts
Replies: 94
Views: 11046

With only $10/month to invest, you could be an "oarsman" on a Roman slave ship :)
by bobbyrx
Wed Mar 02, 2011 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Disposal of Personal Documents
Replies: 10
Views: 1703

Thanks all. I found an Office Depot nearby who will handle bulk shredding.

DripGuy- I disposed of some old computers at recycling center after removing hard drives and crushing them in a large vise. They are tough to destroy!
by bobbyrx
Wed Mar 02, 2011 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Safe Disposal of Personal Documents
Replies: 10
Views: 1703

Safe Disposal of Personal Documents

We are planning to move soon after 40 years in same house. While I have shredded new stuff for a number of years, I have about 200 lbs. of older stuff containing personal info. My shredder will overheat at the very thought of this task :) Is there a place to go to where I can watch all this paper be...
by bobbyrx
Sat Feb 12, 2011 9:40 pm
Forum: Investing - Theory, News & General
Topic: TIPS: Your choice?
Replies: 38
Views: 4553

I hold 35% of fixed in Vanguard Admiral TIPS fund (VAIPX). I see that current yield is 0.36%. I am too lazy to invest in an individual TIPS ladder of bonds. Question: If I wanted to withdraw an inflation adjusted 20K/year from this fund for 20 years, would an investment of $400K in VAIPX approximate...
by bobbyrx
Mon Jan 03, 2011 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Can I stop tracking expenses
Replies: 16
Views: 2069

Thanks for replies.
I tracked expenses after retirement to see what categories changed. Having determined that, I think any more tracking would be useless and obsessive.
Thanks
by bobbyrx
Mon Jan 03, 2011 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Can I stop tracking expenses
Replies: 16
Views: 2069

Can I stop tracking expenses

I have been retired for 2 years. The year before I retired I kept an Excel spreadsheet of all spending by category. I did the same in years 1 and 2 in retirement and found that I spent about 10% less in retirement, with each year in retirement varying by only $50/month. Now, for 2011, I am thinking ...
by bobbyrx
Thu Dec 23, 2010 6:06 pm
Forum: Investing - Theory, News & General
Topic: Boglehead boredom
Replies: 42
Views: 5756

I am 20% equity/ 80% fixed and have been for 15 years and have watched equity crashes and recoveries come and go. I know that , going forward, bonds will not be as kind as they have but that's OK. Like previous poster, I play and love duplicate bridge, read all posts, and feel that, while I know far...
by bobbyrx
Tue Dec 14, 2010 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Refusal [LTC strategy?]
Replies: 11
Views: 2737

Spending your savings on your health and that of your spouse is commendable. The problem is, if you do not seek legal advice, Medicaid can easily draw enough of your joint assets that it can reduce the none ill at-home spouse to near impoverishment for the rest of their days.
by bobbyrx
Tue Dec 14, 2010 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Refusal [LTC strategy?]
Replies: 11
Views: 2737

In the State where we are relocating, the primary residence is, like most states, an exempt asset BUT only up to $500K. Again, there are steps you can take but a do-it-yourself approach can mistakenly put exempt assets at-risk. No substitute for an Elder Care Attorney. Although I do think that a lar...
by bobbyrx
Tue Dec 14, 2010 7:09 pm
Forum: Personal Consumer Issues
Topic: Seating at a Broadway Show
Replies: 25
Views: 4345

We live in a NYC suburb and usually go once a year to a Broadway show. Last trip, with brother and sister in law, we have good orchestra seats to Adams Family (so-so show) at $145 each. Arriving early, we parked in garage, stopped for a pre-show drink, and ate at a Broadway Mexican restaurant, On dr...
by bobbyrx
Tue Dec 14, 2010 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal Refusal [LTC strategy?]
Replies: 11
Views: 2737

I know enough about this area to know that consulting an elder care attorney in the State where you will reside in retirement is essential for planning purposes. The laws and, as important, interpretations of laws and regulations are constantly shifting. We are living in an extremely high cost LTC S...
by bobbyrx
Sat Dec 04, 2010 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's debt to Mother-In-Law
Replies: 77
Views: 9960

I would pay the money in full and then never give her another nickel for anything.
by bobbyrx
Sun Nov 28, 2010 1:49 am
Forum: Personal Finance (Not Investing)
Topic: Do you tell your kids how much you're worth?
Replies: 45
Views: 6909

Yes. We are retired and kids are both around age 40. I wanted them to know everything, especially since my wife is not too interested in financial matters. What I could show them in 20 minutes could take them days or weeks to root through in case both of us are incapacitated.
by bobbyrx
Thu Nov 18, 2010 1:21 am
Forum: Personal Investments
Topic: Long Term Health Care-Met Life
Replies: 11
Views: 2734

Two observations from one who worked in LTC field for decades: Nisiprius, as usual, is correct that Home Care is often a waystation on the road to a Skilled Nursing Facility (SNF) but it can be a reasonably long waystation for a non-demented person who does not need constant, around the clock, super...
by bobbyrx
Tue Nov 16, 2010 9:40 pm
Forum: Investing - Theory, News & General
Topic: Deleted
Replies: 82
Views: 9844

I dooubt that anything financial would surprise me anymore. I have been 20% equity since 1995 and a 25%+ decline in bonds would shock me and I would be eating Hamburger Helper without the hamburger.
by bobbyrx
Fri Nov 12, 2010 11:43 am
Forum: Personal Finance (Not Investing)
Topic: MetLife stops selling Long Term Care Insurance
Replies: 69
Views: 15014

Another thought. I worked in LTC field for many years and when we bought our policies, we purchased a coverage amount (plus inflation) to match the average cost in U.S. even though we currently live in NY area where costs are about 2x average ($150,000 vs @ $80,000 nationwide average). People with s...
by bobbyrx
Fri Nov 12, 2010 11:23 am
Forum: Personal Finance (Not Investing)
Topic: MetLife stops selling Long Term Care Insurance
Replies: 69
Views: 15014

I have had an individual CNA policy for 10 years- purchased at age 57. They did stop selling individual policies about 5-6 years ago but still had about 400,000 policyholders at that time. Still haven't raised premiums but I am sure it is coming. My understanding is that the compnay must maintain ex...
by bobbyrx
Thu Nov 04, 2010 10:45 pm
Forum: Investing - Theory, News & General
Topic: Vanguard publishes new "rule of thumb" for asset a
Replies: 13
Views: 3277

What if you are over 100 years old? That is why the original "age in bonds" portfolio was easier. At age 110, you simply have 110% of portfolio in fixed. :lol:
by bobbyrx
Thu Oct 28, 2010 10:13 pm
Forum: Investing - Theory, News & General
Topic: Reflections on the Garrett Planning Network
Replies: 34
Views: 21742

About 2 years before I retired, I utilized a Garrett advisor on a pay-by-hour basis. I told him that I was a do-it-yourselfer and I wanted him to look over my portfolio and other retirement financial issues and answer 3 questions: - Are my assumptions generally correct - Are my calculations in the b...
by bobbyrx
Sat Oct 23, 2010 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Simple Will vs Revocable Trust
Replies: 9
Views: 2238

Thanks Bob No, I am not adamant about estate going to kids but it would be nice if something is left. I am more concerned that the stay-at-home spouse has enough to live on and was wondering whether a trust would help ensure that by creating a wall of separation between each spouse's IRAs as if they...
by bobbyrx
Sat Oct 23, 2010 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Simple Will vs Revocable Trust
Replies: 9
Views: 2238

Simple Will vs Revocable Trust

My wife and I did a simple will ourselves with Nolo 10 years ago. After that, we went to an attorney and had a durable power of attorney drawn up. I am thinking of going back to attorney to get a new attorney generated will drawn up (to be sure). What would be the advantage, besides avoiding probate...
by bobbyrx
Wed Oct 20, 2010 9:17 pm
Forum: Investing - Theory, News & General
Topic: New John Ameriks paper
Replies: 7
Views: 1507

I have been thinking about SPIAs and bequests for kids from a different angle than the Vanguard paper. I am a very conservative investor- 20% equity- 80% fixed- and have been considering 2 possible courses or combinations involving annuitization. If I annuitize to meet all my expenses, I might inves...
by bobbyrx
Sun Oct 10, 2010 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Immediate Annuities- Help!
Replies: 5
Views: 2524

Vanguard Immediate Annuities- Help!

I read in WSJ that Vanguard had a very good SPIA annuity comparison site that you could access if you were a client. I am and so I logged on and went to site and got message that I was leaving Vanguard and going to Income Solutions. Income Solutions wanted me to log on again so I just assumed that i...
by bobbyrx
Fri Oct 08, 2010 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Dividend Income
Replies: 3
Views: 1270

Thanks for replies, Bill and Neverknow

Bob
by bobbyrx
Fri Oct 08, 2010 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Dividend Income
Replies: 3
Views: 1270

Dividend Income

Among my holdings is Vanguard Dividend Appreciation Index (VDAIX) (current yield 1.98%), which seeks to match the Dividend Achievers Index. The focus seems to be on a decent dividend combined with the prospect of equities that consistently increase their dividends. While I am pleased with VDAIX, I w...
by bobbyrx
Fri Sep 17, 2010 12:41 pm
Forum: Personal Investments
Topic: Annuitizing the home
Replies: 18
Views: 2799

Thanks for many thoughtful responses, particularly about following children, possible drop in home value and various mortgage proposals. Our children have lived in this area for around 20 years and have secure jobs, one in business, the other has tenured position, so that probability of moving is fa...
by bobbyrx
Thu Sep 16, 2010 10:44 pm
Forum: Personal Investments
Topic: Annuitizing the home
Replies: 18
Views: 2799

Thanks folks- you have given me some new alternatives well worth thinking about.

FYI- We are 68(me) and 64(wife)
Bob
by bobbyrx
Thu Sep 16, 2010 2:42 pm
Forum: Personal Investments
Topic: Annuitizing the home
Replies: 18
Views: 2799

Thanks for replies Mel and Heyyou I did not want a conventional mortgage because the interest deduction would be mostly wasted since I presently come in at top of 15% bracket and take standard deduction I probably would wait a year before acting but I am very familiar with new location and kids seem...
by bobbyrx
Thu Sep 16, 2010 1:49 pm
Forum: Personal Investments
Topic: Annuitizing the home
Replies: 18
Views: 2799

Annuitizing the home

I think that most of us have a well-deserved aversion to reverse mortgages with the exception of elderly folks who have depleted their nest eggs and wish to spend last years in their current home. I have a different situation and would appreciate comments. We are retired and are currently living com...
by bobbyrx
Sat Sep 04, 2010 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Can we expect an easy and secure 5% return in the future?
Replies: 22
Views: 3749

I am recently retired and hold a very conservative 80%/20% fixed/equity and have had same allocation for 15+ years. I have absolutely no idea of future returns but my gut tells me that with that allocation to assume 1.5% real going forward.
by bobbyrx
Wed Sep 01, 2010 9:05 am
Forum: Personal Investments
Topic: Crazy to pay so much for a residence?
Replies: 33
Views: 6034

Hi MIGIHIDARI: We are definitely old enough- 67 and 64. I just think of "reversing" to take equity out of a fairly expensive house as a form of asset allocation. Also, I would not buy a more expensive home because it is bigger, prestigious, etc. but because it will be a part of a community...
by bobbyrx
Tue Aug 31, 2010 8:27 pm
Forum: Personal Investments
Topic: Crazy to pay so much for a residence?
Replies: 33
Views: 6034

Sensei, I plan on doing sort of what you say. We currently own a home that represents 25% of total assets (including the home). We plan to buy a more expensive home for cash (40% of total assets) in an amenity rich community, enjoy and reverse mortgage now, long before extreme old age, and fund good...
by bobbyrx
Sun Aug 29, 2010 4:29 pm
Forum: Investing - Theory, News & General
Topic: what is your goal: Critical Mass or Maximal Mass?
Replies: 33
Views: 6237

When I was young, I simply saved as much as I could. Within 5 years of retirement, I began calculating critical mass. Interestingly, I have friends who have achieved critical mass, wish to retire, and are afraid to do so because they psychologically believe they still do not have "enough"....
by bobbyrx
Sun Aug 29, 2010 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Parents near retirement - S.S. and Medicare strategy
Replies: 19
Views: 2848

Checking with your own State plan is essential. With NY State plan, they required signing up with both Part A and Part B Medicare even though you were still working. The State plan, while not technically Medigap, functioned exactly like Medigap, including Rx coverage. As others have commented, there...
by bobbyrx
Sun Aug 29, 2010 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Parents near retirement - S.S. and Medicare strategy
Replies: 19
Views: 2848

I am retired now (age 67) but I was still working at age 65 and was covered by a State health plan. That plan required that I be enrolled with Medicare on the 1st day of the month I turned 65 and the State plan would be backup (Medigap). If I failed to enroll, the State would pay ZERO for any medica...
by bobbyrx
Thu Aug 26, 2010 1:25 pm
Forum: Personal Consumer Issues
Topic: How Long is Too Long Commuting?
Replies: 35
Views: 5274

I am retired now and happy to give up any communting. But I did commute 35 miles each way from a NY suburb into the City. I always told people my commute consisted of a pleasant 30 miles in 30 minutes and the last 3 miles (across GW Bridge) consisted of 30+ minutes. To me, it was always the predicta...
by bobbyrx
Sun Aug 22, 2010 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage question
Replies: 9
Views: 1951

Interesting point, Bill. One of the expenses of a reverse mortgage is paying PMI in case a house declines in value. Hard to believe that CA reverse mortgage holders would let homeowners cash out their line of credit in a severely declining market though. I don't know. But I am considering a reverse ...
by bobbyrx
Sun Aug 22, 2010 12:32 am
Forum: Personal Finance (Not Investing)
Topic: In Striking Shift, Small Investors Flee Stock Market
Replies: 20
Views: 2831

As I read this NY Times article, I was thinking of the birth of the 401-K in 1980. By 1983, about 50% of companies had adopted 401-K plans and the beginning of the curtailing of define benefit plans for non-governmental, non-unionized workers had begun. I was wondering if the 1982-2000 secular bull ...
by bobbyrx
Fri Aug 20, 2010 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage question
Replies: 9
Views: 1951

Thanks for your interest Rick. Maybe my situation is a bit unusual in that I will be "upsizing" in housing after move. And I know that the house bought for cash with no mortgage is still an asset that could be tapped later in retirement if necessary. And yes I know there are rather large f...
by bobbyrx
Thu Aug 19, 2010 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage question
Replies: 9
Views: 1951

Thanks for the link, Toons. A better article than most that delves into more of the cons and pros. In the article, it said that many seniors regard their house as a sacrosanct asset to be passed on to heirs. Strangely, that is one of the reasons that I was considering a reverse mortgage. If I have m...
by bobbyrx
Thu Aug 19, 2010 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage question
Replies: 9
Views: 1951

Reverse Mortgage question

We retired 2 years ago and are living as we wish on an intial SWR of 2%, allowing us to travel, pursue hobbies, etc. We are planning to relocate and purchase a house of similar size (no McMansion) in an attractive amenity rich community that will cost about 60% more than current home estimated proce...
by bobbyrx
Thu Aug 19, 2010 9:13 am
Forum: Investing - Theory, News & General
Topic: Jeremy Siegel and J. Schwartz - Great American Bond Bubble
Replies: 69
Views: 8187

Thanks for clearing up my misunderstanding folks. The key is when does the rate rise occur and modeling will give me what I am seeking.

Bob
by bobbyrx
Wed Aug 18, 2010 10:39 pm
Forum: Investing - Theory, News & General
Topic: Jeremy Siegel and J. Schwartz - Great American Bond Bubble
Replies: 69
Views: 8187

It is my understanding, perhaps incorrect, that if I buy an intermediate bond fund with a current interest rate of 3.5% and hold it for the average current duration- say 7 years, that even if interest rates rise, my average annual return will approximate today's current 3.5% What I will forego is th...