Search found 639 matches

by lhl12
Thu Nov 21, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Abandoning Vanguard Trust for a Directed Trust? Question about a LLC
Replies: 7
Views: 720

Re: Abandoning Vanguard Trust for a Directed Trust? Question about a LLC

bsteiner wrote:
Thu Nov 21, 2019 3:58 pm

The larger the amount involved the more likely it is to make sense.
At what asset size in the LLC would you say this is a clearly superior configuration?
by lhl12
Fri Oct 25, 2019 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: First Republic Bank doesn’t have physical coins
Replies: 76
Views: 5726

Re: First Republic Bank doesn’t have physical coins

Slightly off topic - I believe the US should: 1. Eliminate the penny and nickel coins 2. Eliminate the $1 and $2 paper bills 3. Add a $2 coin and promote the $1 coin 4. Eliminate the quarter coin 5. Add (or replace) 50 cent coin with smaller coin 6. ALL financial transactions (whether paper currenc...
by lhl12
Wed Oct 23, 2019 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Best credit card for 2 mil+ in annual spending?
Replies: 60
Views: 6954

Re: Best credit card for 2 mil+ in annual spending?

BoA has the best setup. Put 100k in there and you have a 2.625% floor and up to 5.25% when using a 3% category. It's also super easy to get multiple cards. You can apply to any of the partnered cards. Also, if you are a customer of the Bank of America Private Bank then you are eligible for the maxi...
by lhl12
Wed Oct 23, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Best credit card for 2 mil+ in annual spending?
Replies: 60
Views: 6954

Re: Best credit card for 2 mil+ in annual spending?

Primary card I use is the Citi Double Cash and net 2% cash back. It probably doesn't matter, but I believe the Citi Double Cash actually gives only 1.99% cash back, not 2.00%. You should check other threads on the site for more details but my recollection is that you get an immediate 1% credit on y...
by lhl12
Wed Oct 16, 2019 9:58 pm
Forum: Investing - Theory, News & General
Topic: A real world answer. What happens to a stock when a company goes bankrupt?
Replies: 15
Views: 5597

Re: A real world answer. What happens to a stock when a company goes bankrupt?

Where are you able to see that AABA escrow receipts are trading on OTC at $20.10 if they are not trading electronically? You can't "see" that anywhere - you'd need to speak with one of the brokerage firms that makes a market in the security. They will tell you (over the phone) the price at which th...
by lhl12
Wed Oct 16, 2019 1:04 pm
Forum: Investing - Theory, News & General
Topic: A real world answer. What happens to a stock when a company goes bankrupt?
Replies: 15
Views: 5597

Re: A real world answer. What happens to a stock when a company goes bankrupt?

I suppose it will take 3 years to realize any further gains from this escrow. I wonder if I should have sold when news of this first broke. My $10,000 investment was valued at $18,000. I now have my $13,000 but the other $5000 is at the whims of other interested parties. I am a die-hard "buy and ho...
by lhl12
Wed Oct 16, 2019 11:21 am
Forum: Investing - Theory, News & General
Topic: A real world answer. What happens to a stock when a company goes bankrupt?
Replies: 15
Views: 5597

Re: A real world answer. What happens to a stock when a company goes bankrupt?

AABA no longer allows direct purchases and sales of its shares. However those who formerly owned shares of AABA now own "escrow receipts" for their shares, and can buy and sell those escrow receipts. However the escrow receipts do not trade electronically - they only trade "over the counter". As of ...
by lhl12
Mon Sep 16, 2019 11:51 am
Forum: Personal Investments
Topic: Best Estate Planning Book
Replies: 7
Views: 1168

Re: Best Estate Planning Book

I haven't read it, but from knowing Steve Leimberg well and having written for his daily electronic newsletter for at least 15 years, I would think his book "Tools and Techniques of Estate Planning" would probably be good: https://law.justia.com/codes/california/2018/code-prob/division-7/part-7/cha...
by lhl12
Fri Aug 30, 2019 7:18 am
Forum: Personal Investments
Topic: Trustee/"CIO"/Money Manager model for trust?
Replies: 11
Views: 673

Re: Trustee/"CIO"/Money Manager model for trust?

This is a different construct from the one I was envisioning, and the RIA firm would presumably charge a meaningful AUM fee for the asset allocation function (which I was trying to avoid).
by lhl12
Mon Aug 26, 2019 3:27 pm
Forum: Personal Investments
Topic: Trustee/"CIO"/Money Manager model for trust?
Replies: 11
Views: 673

Re: Trustee/"CIO"/Money Manager model for trust?

It's not unusual to divide the tasks, and have one (whom you're calling the trustee) responsible for administrative matters and distributions, and another (whom you're calling the CIO) responsible for the investments, with the right to hire managers. It's easier to do this in a state that has a sta...
by lhl12
Mon Aug 26, 2019 11:40 am
Forum: Personal Investments
Topic: Trustee/"CIO"/Money Manager model for trust?
Replies: 11
Views: 673

Re: Trustee/"CIO"/Money Manager model for trust?

I agree that "Trustee" is a legal concept that cannot be defined away, but my understanding is that there are many different varieties of Trustees and it should be possible to define the role narrowly (as I have done). I believe that CIO and Money Manager can be defined however one would like in the...
by lhl12
Fri Aug 23, 2019 9:23 am
Forum: Personal Investments
Topic: Trustee/"CIO"/Money Manager model for trust?
Replies: 11
Views: 673

Trustee/"CIO"/Money Manager model for trust?

In thinking about trusts to be established for estate planning purposes that a grantor wishes to follow Boglehead principles, it seems to me there are three distinct functions that one might want to define: 1. TRUSTEE - interacts with beneficiary, determines appropriateness/frequency of distribution...
by lhl12
Sat Aug 17, 2019 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Can SS benefits continue to increase if still working after claiming?
Replies: 10
Views: 1421

Can SS benefits continue to increase if still working after claiming?

Let's assume I begin taking Social Security benefits at age 62 but continue to work. Let's further assume I haven't yet maxed out my benefit (in the sense that I don't have the full 36 years of max earnings) and while continuing to work I generate a few more years of max earnings. Will my benefit in...
by lhl12
Mon Jun 24, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Two NWM 65 Life "Gifts" from Parents. I'm Lost!
Replies: 32
Views: 4513

Re: Two NWM 65 Life "Gifts" from Parents. I'm Lost!

Absolutely cash them in and pay off the high cost debt. You are earning close to zero (maybe even negative) on these policies at this point in time and you are probably paying 20% on the credit card debt.
by lhl12
Tue Jun 18, 2019 11:23 am
Forum: Personal Consumer Issues
Topic: Turkish Airlines ?
Replies: 49
Views: 4373

Re: Turkish Airlines ?

I flew them to/from Istanbul a couple of years ago. Excellent experience all around - good service, good food, friendly staff, modern and clean planes, on time, nice terminal at the Istanbul end. I would put them in the top tier of flag carriers, though not quite at the same level as the Gulf carrie...
by lhl12
Thu Jun 06, 2019 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Pine Tree Incident
Replies: 31
Views: 3860

Re: Pine Tree Incident

I would never agree to something like this. I would want to get at least three competing bids, with guidance from the insurance company. If this contractor won't participate on that basis, screw them -- they are just trying to take advantage of you. You might also want to consider the services of an...
by lhl12
Tue Jun 04, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2596

Re: Social Security deductions after maxing out Social Security benefit?

Your SS benefit may continue to increase after 35 full years, but it will be slower than if you had zero earnings years in your record. If you make more in the current year than in an old year in your 35-year record, in inflation adjusted terms, the current year earnings bump that old year out of t...
by lhl12
Tue Jun 04, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2596

Re: Social Security deductions after maxing out Social Security benefit?

Your SS benefit may continue to increase after 35 full years, but it will be slower than if you had zero earnings years in your record. If you make more in the current year than in an old year in your 35-year record, in inflation adjusted terms, the current year earnings bump that old year out of t...
by lhl12
Tue Jun 04, 2019 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2596

Re: Social Security deductions after maxing out Social Security benefit?

If my future payroll deductions simply disappear, that is a fairly significant disincentive to keep working, which seems odd. Does anyone else have any experience with this situation? Why is it a significant disincentive to you? Actually your situation is very normal (reaching a point at which SS b...
by lhl12
Tue Jun 04, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2596

Re: Social Security deductions after maxing out Social Security benefit?

Your SS benefit may continue to increase after 35 full years, but it will be slower than if you had zero earnings years in your record. If you make more in the current year than in an old year in your 35-year record, in inflation adjusted terms, the current year earnings bump that old year out of t...
by lhl12
Tue Jun 04, 2019 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2596

Re: Social Security deductions after maxing out Social Security benefit?

Right, but in this case I will have 35 years at the Social Security maximum. So, I believe it shouldn't be possible for a future year to "bump" a prior year since all 35 years are already max'ed out.
by lhl12
Tue Jun 04, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Social Security deductions after maxing out Social Security benefit?
Replies: 23
Views: 2596

Social Security deductions after maxing out Social Security benefit?

In another year I will have worked for 35 full years at the maximum level for Social Security benefits. My understanding is that at that point my eventual Social Security benefit is "maxed" and cannot go any higher (other than for inflation adjustments). I intend to continue to work for a few more y...
by lhl12
Thu Mar 21, 2019 11:22 am
Forum: Personal Investments
Topic: Role of Pensions and Social Security in Asset Allocation
Replies: 147
Views: 7736

Re: Role of Pensions and Social Security in Asset Allocation

I too am firmly in the camp that believes streams of future cash flows are financial assets and that the estimated capitalized value of such streams should be included in one's Asset Allocation. I agree with the distinction between Valuation (which might be difficult) and Categorization (on which my...
by lhl12
Wed Mar 20, 2019 12:41 pm
Forum: Investing - Theory, News & General
Topic: Favorite investment quote
Replies: 73
Views: 4838

Re: Favorite investment quote

Interest never sleeps nor sickens nor dies; it never goes to the hospital; it works on Sundays and holidays; it never takes a vacation; it never visits nor travels; it takes no pleasure; it is never laid off work nor discharged from employment; it never works on reduced hours; it never has short cro...
by lhl12
Thu Mar 14, 2019 10:16 am
Forum: Personal Consumer Issues
Topic: Trip to Osaka in late July early Aug. Must see. Things to do.
Replies: 26
Views: 2526

Re: Trip to Osaka in late July early Aug. Must see. Things to do.

Besides doing Dotombori on your own, the Cup Noodle Museum about the invention of instant ramen is fun and visiting the ethnographic.museum on the site of the Osaka Expo. Details about how to get there will be in any competent guidebook. Karl V +1 for the Cup o' Noodles Museum! It might sound a lit...
by lhl12
Mon Mar 04, 2019 4:25 pm
Forum: Personal Consumer Issues
Topic: Talk me in/out of $35k Tesla Model 3
Replies: 286
Views: 23433

Re: Talk me in/out of $35k Tesla Model 3

I offer no opinion about the financial merits of purchasing a Tesla. My concern is with the viability of the company and whether it will be around to honor its warranties or do repairs. The company has never made money , is low on cash, and has a CEO whose behavior can most charitably be described ...
by lhl12
Mon Mar 04, 2019 12:17 pm
Forum: Personal Consumer Issues
Topic: Talk me in/out of $35k Tesla Model 3
Replies: 286
Views: 23433

Re: Talk me in/out of $35k Tesla Model 3

I offer no opinion about the financial merits of purchasing a Tesla. My concern is with the viability of the company and whether it will be around to honor its warranties or do repairs. The company has never made money, is low on cash, and has a CEO whose behavior can most charitably be described as...
by lhl12
Wed Nov 21, 2018 12:53 pm
Forum: Personal Investments
Topic: Developing Complete Plan for Windfall
Replies: 37
Views: 3455

Re: Developing Complete Plan for Windfall

I would consider Fidelity's offering for very high net worth clients - their Fidelity Family Office Services group: You might decide to stick with Vanguard but Fidelity is generally viewed as comparable while having better service and better technology. At your asset size that tradeoff might be more...
by lhl12
Mon Nov 12, 2018 12:14 pm
Forum: Personal Consumer Issues
Topic: How long have you had, or did you have, your HP-12C calculator?
Replies: 72
Views: 3293

Re: How long have you had, or did you have, your HP-12C calculator?

I have used one for going on thirty years. However I had to buy a new one recently and I find the build quality noticeably inferior. The rubber pads have come off, certain keys won't "fire" unless pressed in exactly the right way, and I have had issues with the display. My recent purchase was made i...
by lhl12
Wed Oct 17, 2018 9:47 am
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 138
Views: 12316

Re: Should we move to San Diego from east coast?

Ignoring all other differences, is the weather in San Diego meaningfully different from the weather in Los Angeles?
by lhl12
Mon Sep 24, 2018 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?
Replies: 83
Views: 8015

Re: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?

I don't think you should redirect retirement funding to prepay your house. However if you do decide to accelerate debt paydown on your house then I would strongly consider refinancing to a lower rate mortgage whose term matches the projected term of your paydown. For example, if you expected you wer...
by lhl12
Thu Sep 20, 2018 2:25 pm
Forum: Personal Consumer Issues
Topic: Should I bother meeting with a Chase Private Client Rep
Replies: 57
Views: 9551

Re: Should I bother meeting with a Chase Private Client Rep

Another good example of this sort of thing is the B of A Premium Rewards/Merrill Edge package. If you have $100,000 in balances at Merrill Edge (which can be in a Vanguard mutual fund, Admiral shares) then you get a great package of services from B of A, including a 2.625% unlimited cash rebate on a...
by lhl12
Thu Sep 20, 2018 2:11 pm
Forum: Personal Consumer Issues
Topic: Should I bother meeting with a Chase Private Client Rep
Replies: 57
Views: 9551

Re: Should I bother meeting with a Chase Private Client Rep

I also agree. The private client/private banking divisions of these large banks can offer attractive and inexpensive (or even free) packages of services that might be a good fit for you. It doesn't cost anything to listen to the sales pitch. The key is to be very disciplined about saying yes only to...
by lhl12
Tue Sep 18, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Need help in solving Tenant landlord issue
Replies: 26
Views: 2590

Re: Need help in solving Tenant landlord issue

I think paying a lawyer a few hundred bucks to send a letter (disputing all these charges and threatening legal action) might give you the most bang for your buck. Court is time consuming and can be costly and can quickly turn into a he said she said situation. I agree with this approach. I'd also ...
by lhl12
Wed Aug 15, 2018 8:58 am
Forum: Personal Finance (Not Investing)
Topic: What to ask agent when seeking to cash out of Whole-Life policy?
Replies: 28
Views: 2154

Re: What to ask agent when seeking to cash out of Whole-Life policy?

If i understand it right, you paid $136/month * 12 months * 30 years = $48960 and you get $27000 now? You also got life insurance for 30 years. To determine your true net return you would have to add back whatever you would have paid for term life to get equivalent coverage for that entire period. ...
by lhl12
Tue Jul 10, 2018 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life - We're doing it. What to look for?
Replies: 134
Views: 12232

Re: Whole Life - We're doing it. What to look for?

[/quote] We've verified the WL policy would be written based upon the health of my SO at the time of her initial term policy (e.g., no medical concerns at that point). However, the WL policy would be written at the "standard" level of health (e.g., an average person), vice the "superior standard" (o...
by lhl12
Sun Jul 01, 2018 8:42 am
Forum: Investing - Theory, News & General
Topic: Are Hedge funds basically scams?
Replies: 36
Views: 3897

Re: Are Hedge funds basically scams?

Hedge Funds are a form of commingled fund typically organized as a private partnership (rather than an open-end or closed-end mutual fund, which is the typical structure for standard mutual funds). Hedge Funds engage in a very broad range of investment strategies - so broad as to make the term "hedg...
by lhl12
Thu May 10, 2018 10:21 am
Forum: Personal Investments
Topic: Charitable Investing
Replies: 7
Views: 671

Re: Charitable Investing

When you say "charitable investing" do you mean making donations to a charity? Or something else? Assuming you're referring to charitable donations, I'm not sure why you think you need a brokerage account, especially for small sums. You could simply make a small donation to the charity each month. D...
by lhl12
Mon Apr 16, 2018 7:26 am
Forum: Investing - Theory, News & General
Topic: 2017 Yale Endowment Report
Replies: 13
Views: 1859

Re: 2017 Yale Endowment Report

Along similar lines, this link has an interesting interview of David Swensen (manager of the Yale Endowment) by Bob Rubin (former US Treasury Secretary):

https://www.cfr.org/event/conversation-david-swensen
by lhl12
Thu Mar 22, 2018 2:32 pm
Forum: Personal Consumer Issues
Topic: Coffee maker recommendations
Replies: 41
Views: 3968

Re: Coffee maker recommendations

I'd definitely go with a K-Cup machine. Keurig makes them, as do many others (licensing Keurig's technology). The pods keep a long time and you can fill the machine from your bathroom sink.
by lhl12
Wed Feb 14, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Institutional Trustee?
Replies: 7
Views: 687

Re: Institutional Trustee?

It would be fairly typical in these situations to have your attorney draft the trust and for them to serve as trustee. This is a fairly standard thing in the real estate world. These are sometimes referred to as "nominee trusts".
by lhl12
Wed Jan 10, 2018 5:16 pm
Forum: Personal Investments
Topic: What would you do with a 25 million windfall?
Replies: 47
Views: 4693

Re: What would you do with a 25 million windfall?

I would contribute the maximum deductible amount either to a newly formed private foundation or to a Donor-Advised Fund. I believe the limit is 20% of AGI but you should confirm this with an accountant. That will give you the largest possible charitable deduction without having to actually give the ...
by lhl12
Thu Jan 04, 2018 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Annual Maintenance Contract - Worth it?
Replies: 17
Views: 962

Re: Annual Maintenance Contract - Worth it?

Where are you located?

How many zones of heating and cooling are there?
by lhl12
Thu Dec 28, 2017 7:59 am
Forum: Personal Investments
Topic: Wife's Windfall/Inheritance/Retirement/Merrill Lynch
Replies: 37
Views: 5564

Re: Wife's Windfall/Inheritance/Retirement/Merrill Lynch

I haven't seen this mentioned but Merril Edge should be an option (in addition to Schwab/Fido/TDA). In fact, the transfer from one branch of ML to ME would probably be easier. As you have many single stocks, the free trades from ME you would be entitled to would be a nice touch as you reduce single...
by lhl12
Tue Dec 12, 2017 5:02 am
Forum: Personal Investments
Topic: Need to invest adult siblings trust money
Replies: 25
Views: 2351

Re: Need to invest adult siblings trust money

I agree that for a trust corpus of this size and a desire to have these payouts last a lifetime, a Single Premium Immediate Annuity (SPIA) is a great option.
by lhl12
Fri Dec 08, 2017 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: 840 credit score Million dollar farm.. low income cannot get Heloc?
Replies: 64
Views: 5823

Re: 840 credit score Million dollar farm.. low income cannot get Heloc?

You've described a HELOC, which is a product intended for a borrower's primary residence. Is this farm your friend's primary residence? If not, or if the HELOC idea doesn't work, he might consider exploring a business line of credit (which would be made out of the small business side of the bank, no...
by lhl12
Wed Dec 06, 2017 2:49 pm
Forum: Personal Consumer Issues
Topic: Philanthropy and related issues
Replies: 50
Views: 4841

Re: Philanthropy and related issues

I think a lot about this topic. Soon after I "hit my number", my thinking changed from "achieving financial independence to "leaving a legacy". "Leaving a legacy" can mean a lot of things. For some, it means avoiding as much tax as possible in the process of leaving everything you have to your kids....
by lhl12
Sun Nov 12, 2017 11:03 am
Forum: Personal Consumer Issues
Topic: Better way to get rid of old fridge?
Replies: 38
Views: 3634

Re: Better way to get rid of old fridge?

You might also consider this approach:

http://dontevenreply.com/view.php?post=50
by lhl12
Tue Oct 31, 2017 5:02 am
Forum: Investing - Theory, News & General
Topic: How to learn about financial statement analysis?
Replies: 30
Views: 4117

Re: How to learn about financial statement analysis?

This is my first post. I found this book to be very helpful: Managing by the Numbers by Kremer, Rizzuto, and Case. It explains the relationships between the Balance Sheet, the Income statement, the Cash Flow statement, and the financial ratios, and explains how to run forecasts. Welcome to the forum!
by lhl12
Sat Oct 28, 2017 11:10 am
Forum: Personal Consumer Issues
Topic: Good Modern Science Fiction
Replies: 436
Views: 75079

Re: Good Modern Science Fiction

+1 to the "Ancillary" series ("Ancillary Justice", "Ancillary Sword" and "Ancillary Mercy") by Leckie - outstanding.