Search found 628 matches

by lhl12
Fri Aug 23, 2019 9:23 am
Forum: Personal Investments
Topic: Trustee/"CIO"/Money Manager model for trust?
Replies: 1
Views: 121

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: 1204

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: 4145

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: 38
Views: 2646

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: 3660

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: 2401

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: 2401

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: 2401

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: 2401

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: 2401

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: 2401

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: 7160

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: 4257

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: 2297

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: 20558

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: 20558

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: 3262

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: 3016

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: 11565

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: 7783

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: 56
Views: 6838

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: 56
Views: 6838

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: 2522

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: 2099

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: 131
Views: 10083

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: 3629

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: 630

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: 1658

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: 3677

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: 648

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: 4343

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: 897

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: 5447

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: 2315

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: 5634

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: 4702

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: 3502

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: 3924

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: 391
Views: 58595

Re: Good Modern Science Fiction

+1 to the "Ancillary" series ("Ancillary Justice", "Ancillary Sword" and "Ancillary Mercy") by Leckie - outstanding.
by lhl12
Tue Oct 24, 2017 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Attempted theft of bank funds via identity theft
Replies: 19
Views: 3297

Re: Attempted theft of bank funds via identity theft

theplayer11 wrote:
Tue Oct 24, 2017 2:09 pm
op, did you have a freeze with chexsystems?
Not as far as I know.
by lhl12
Tue Oct 24, 2017 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Attempted theft of bank funds via identity theft
Replies: 19
Views: 3297

Attempted theft of bank funds via identity theft

I was recently the attempted victim of a theft of funds from a bank account via identity theft and I thought I would share how the thieves tried to rob me in hopes that it might help others in the future. Through some sort of data breach, the thieves got my full name, SS# and mailing address. They t...
by lhl12
Mon Oct 23, 2017 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 3951

Re: Whole Life Policy Analysis

Who owns the policy presently? You? Your parents? a trust? Who is the beneficiary of the policy? Your spouse? Your parents? I own the policy, and the current beneficiaries are my parents and brother. Plan to change to my wife if I keep paying. Does your wife need the insurance? Or is she all set wi...
by lhl12
Mon Oct 23, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 3951

Re: Whole Life Policy Analysis

Who owns the policy presently? You? Your parents? a trust?

Who is the beneficiary of the policy? Your spouse? Your parents?
by lhl12
Wed Oct 11, 2017 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Which BoA Credit Card to use?
Replies: 24
Views: 2601

Re: Which BoA Credit Card to use?

I believe the brand new Premium Rewards card is better than either Cash Rewards or Travel Rewards
by lhl12
Wed Oct 11, 2017 7:26 pm
Forum: Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 2369

Re: Whole Life question - when to stop making annual payments?

I have confirmed that the trust is GST exempt.
by lhl12
Wed Oct 11, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Boston area Relocation...major decision points
Replies: 34
Views: 4064

Re: Boston area Relocation...major decision points

I would explore living in Winchester. It is a beautiful little town just south of Woburn. It is nicer than Woburn, a little closer to Boston, and with a Commuter Rail station that will allow you to take the train into Boston if you wish.
by lhl12
Mon Oct 09, 2017 6:35 pm
Forum: Personal Investments
Topic: Please define "cash"
Replies: 31
Views: 2999

Re: Please define "cash"

I hope this doesn't muddy the waters too much, but it is also worth noting that debt is cash with a negative sign in front of it (as long as it is prepayable at any time without penalty).
by lhl12
Fri Oct 06, 2017 2:55 pm
Forum: Personal Consumer Issues
Topic: How do you value your time?
Replies: 97
Views: 5816

Re: How do you value your time?

Decades ago I consulted a lawyer, and he charged me $250 an hour. I decided that thenceforth I will value my time at the same level. I never did adjust for inflation. Presumably that same lawyer now charges around $500 an hour, but if I need to spend hours chasing something, e.g. an insurance claim...
by lhl12
Wed Oct 04, 2017 1:02 pm
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 21297

Re: $10 million+ - Still Working and LBYM

It’s not an investment if you live in the home Wrong. It’s not an investment if you must continue to live in the home. I beg to differ. You're both wrong. It's not an investment if it doesn't pay you every month. So by default, investing1012 is actually right. Since 401k and IRA don't pay you every...
by lhl12
Tue Oct 03, 2017 3:16 am
Forum: Personal Investments
Topic: Whole Life question - when to stop making annual payments?
Replies: 16
Views: 2369

Re: Whole Life question - when to stop making annual payments?

I calculated the rate of return on the Death Benefit rather than cash value on the theory that he WILL hold the policy until death and the only question is what incremental return he’s earning on the premium (if he continues to make the payments). So, if he dies the day before making the next paymen...