Search found 2095 matches

by galeno
Sun Sep 27, 2020 10:17 am
Forum: Investing - Theory, News & General
Topic: TIPS Comparison
Replies: 5
Views: 358

Re: TIPS Comparison

Yes. The NAV of a nominal US Treasury ETF and a TIPS ETF with identical durations should decline the same amount. DBR, Thanks for the quick response - yes I totally understand that TIPS are based on real rates and nominal bonds are based on nominal rates. I'm trying to increase my understanding the ...
by galeno
Fri Sep 25, 2020 3:56 pm
Forum: Non-US Investing
Topic: Interactive Brokers: domicile, insurance, taxes
Replies: 8
Views: 1102

Re: Interactive Brokers: domicile, insurance, taxes

Will IB (UK Lux or IE versions) lose business to Degiro, Saxo, or other European friendly discount brokers?
by galeno
Thu Sep 24, 2020 8:15 am
Forum: Non-US Investing
Topic: New to investing (Chile)
Replies: 24
Views: 1506

Re: New to investing (Chile)

It looks like you just found your entry door into to the world's market of financial assets. "According to what I have read on their website, Renta4 charge me 0,25% of the transaction amount plus 4-5 USD for doing the transaction. That, and a monthly fee less than 1 USD. I don't see any restrictions...
by galeno
Tue Sep 22, 2020 1:35 pm
Forum: Non-US Investing
Topic: New to investing (Chile)
Replies: 24
Views: 1506

Re: New to investing (Chile)

Starting out may be tough. Brokers that cater to non-US investors don't want small accounts. When my wife and I started investing in the mid 1980s we had a heck of a time finding ANYBODY reasonable that would accept us. So we went with the unreasonable. We started at a local bank investing in their ...
by galeno
Fri Sep 18, 2020 9:29 am
Forum: Non-US Investing
Topic: I'm Polish - should I hedge bond ETF to EUR?
Replies: 9
Views: 886

Re: I'm Polish - should I hedge bond ETF to EUR?

I think you are absolutely on to something. Two weeks ago I would have rejected the idea of using local real estate as a substitute for bonds. A young man called "the nomad capitalist" appeared on my YouTube feed. He goes around the world and finds and invests in local residential RE around the worl...
by galeno
Fri Sep 18, 2020 9:14 am
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

I can attest there is a lot of random and arbitrary decision making. When I was young I used to argue and fight. Get upset. Now I just comply or change. Or I have lawyers or accountants deal with it. Actually my super wife deals with the lawyers and accountants. Thank goodness. "And it seems that we...
by galeno
Thu Sep 17, 2020 5:01 pm
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

Oh.

We non-US investors should be very careful with those IB "bots". They seem to cater to US investors. Buy and sell on USA exchanges.

But they just may be the OP's solution. It's a pretty slick idea.
by galeno
Thu Sep 17, 2020 4:54 pm
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

All of our accounts have been frozen many times. At one time or another. It's a pesky but minor hassle. All bank accounts in Nicaragua, Costa Rica, and Panama. Too many times to remember. We've used 4 different stock brokers in the last 40 years. 5 if I count Schwab Cayman being absorbed by Schwab I...
by galeno
Thu Sep 17, 2020 2:52 pm
Forum: Non-US Investing
Topic: taxes in Germany for ETFs not bought in Germany?
Replies: 11
Views: 1041

Re: taxes in Germany for ETFs not bought in Germany?

Are you a German citizen or resident? Do you plan to work in Germany for a long time?

Is it possible to leave your non German IB holdings as is while working in Germany? Open a GERMAN brokerage account and contribute to it while you're in Germany?
by galeno
Thu Sep 17, 2020 2:36 pm
Forum: Non-US Investing
Topic: I'm Polish - should I hedge bond ETF to EUR?
Replies: 9
Views: 886

Re: I'm Polish - should I hedge bond ETF to EUR?

Your plan makes sense to me. "I tend to choose option 2 for the following reasons: Poland is part of EU Poland is obliged to adopt the euro under the terms of the Treaty of Accession 2003, although without a specific target date EU is Poland's biggest trading partner: 69% of import comes from EU, 80...
by galeno
Thu Sep 17, 2020 2:28 pm
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

I agree. For OUR situation. 1. Stay in Central America or move to South America if necessary (Nicaragua, Costa Rica, and Panama become unlivable nightmares). 2. Avoid Europe and North America (beware of large future tax increases) 3. Look into Asia and Singapore (do they like / accept Costa Rican ci...
by galeno
Thu Sep 17, 2020 12:53 pm
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

Our custodian is either Chase NA or Bank of America NA. I forgot which one. Definately NOT IB. When we moved from Schwab International to IB our financial advisor made a big deal about the custodian. He wanted it to be a large US bank. To this day I don't understand why other than the basic retail s...
by galeno
Thu Sep 17, 2020 12:46 pm
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

I personally know 2 USA expats that haven't lived in the USA since 1980. One uses Schwab. The other uses Fidelity. Is it really that difficult or costly to give them a USA address? To be able to buy and hold USA domiciled assets bought on USA bourses? Maybe Ted Swippet or Tylenol Jones can give us h...
by galeno
Thu Sep 17, 2020 12:25 pm
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

The want a USA address? Just give them one. You are a US citizen after all. We recently got a notice from Panama that as Costa Ricans we need to have a Panamanian address in order that we keep our PERSONAL bank accounts that we've had for almost 40 years. So we gave them our SIL's sister's address i...
by galeno
Thu Sep 17, 2020 11:41 am
Forum: Non-US Investing
Topic: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR
Replies: 31
Views: 1584

Re: US expats: Moving from non-EU country to EU, getting locked out from US ETFs, esp. with IBKR

As a USA expat why don't you use USA Schwab or USA Fidelity and KISS (keep it simple)?

If we could hold VT (USA Vanguard) and pay the L1/L2 dicidend withholding taxes of VWRD (Ireland Vanguard) we would. (33% taxes vs 11% taxes).
by galeno
Thu Sep 17, 2020 10:51 am
Forum: Non-US Investing
Topic: New to investing (Chile)
Replies: 24
Views: 1506

Re: New to investing (Chile)

AGGG is the UNHEDGED version. Lots of non- US investors prefer the unhedged. I'm not totally sold on hedged. The pluses and minuses cancel each other out. The equity UCITS ETF VWRx is UNHEDGED. x is simply the currency of your accounting and whether it is accumulating or distributing. World Bonds ca...
by galeno
Thu Sep 17, 2020 10:27 am
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

It seems like IB will resolve all these issues automatically for its European customers. I imagine that the USA is pressuring IB with new regs. When I called USA IB about their decision regarding LATAM corp accounts no longer being accepted. The guy simply told me that the compliance that needs to b...
by galeno
Thu Sep 17, 2020 10:01 am
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

Thank you! That makes TOTAL sense. Why didn't I think of that? I've been posting about IB on Bogleheads for 6 years. Recently I started seeing "IBKR". So...OK. Very sexy. But for me it was just IB. I believe I'm STARTING to understand the basic situation. Nationalism is waxing and globalism is wanin...
by galeno
Thu Sep 17, 2020 9:42 am
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

This is driving me crazy. USA IB is IBL? Then what is IBKR?

Where did all these letters come from?

I wish they'd make an IBCR.
by galeno
Thu Sep 17, 2020 9:33 am
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

For us the BVI (British Virgin Islands) is the UK version of the US Virgin Islands. Both are territories of large countries with important stock exchanges. For whatever reasons IB in the USA no longer likes our "Panamanian clothes" it wants us to use "BVI clothes" or go "nude" (no corporate account)...
by galeno
Thu Sep 17, 2020 8:12 am
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

I'm confused. I thought IB was a USA domiciled discount broker with international branches. Like the old Merrill Lynch of my father's era. Like Schwab International but with access to UCITS ETFs on non-USA bourses. Big drop in L1 and L2 dividend withholding taxes for us. Now I'm seeing all these dif...
by galeno
Wed Sep 16, 2020 10:42 am
Forum: Non-US Investing
Topic: Interactive Brokers: domicile, insurance, taxes
Replies: 8
Views: 1102

Re: Interactive Brokers: domicile, insurance, taxes

I wish IB had the phone customer service skills of Schwab.

If Schwab International gave us access to UCITS ETFs on non-USA bourses we'd switch back to Schwab yesterday.
by galeno
Wed Sep 16, 2020 10:35 am
Forum: Non-US Investing
Topic: VWRA vs VWRD vs VWRP
Replies: 2
Views: 645

Re: VWRA vs VWRD vs VWRP

We live in the Americas. We hold VWRD.

We use the "portfolio" tool on UK Morningstar which gives performance (return) in GBP.

Which we then convert to USD. The return is always different depending on the difference in valuation between the GBP and the USD.
by galeno
Wed Sep 16, 2020 10:23 am
Forum: Non-US Investing
Topic: Brexit Planning message from IB to EU customers
Replies: 16
Views: 1517

Re: Brexit Planning message from IB to EU customers

Watching.

We in the Americas also were told by IB that they will no longer accept corporate accounts from Panama and many other LATAM countries.

We have to switch our corporate account to the British Virgin Islands or go direct with them.
by galeno
Wed Sep 16, 2020 9:35 am
Forum: Non-US Investing
Topic: New to investing (Chile)
Replies: 24
Views: 1506

Re: New to investing (Chile)

The equity UCITS ETF VWRx is UNHEDGED. x is simply the currency of your accounting and whether it is accumulating or distributing.

World Bonds can be HEDGED or UNHEDGED. Distributing or accumulating.

We hold our cash in USD and convert it to CRC as needed.
by galeno
Tue Sep 15, 2020 8:18 am
Forum: Investing - Theory, News & General
Topic: VT as single fund, now post covid recession
Replies: 20
Views: 1529

Re: VT as single fund, now post covid recession

For those of us who think KISS is bliss.

The ONLY equity ETF choice for globalist US investors: VT.

The ONLY equity UCITS choice for non-US investors: VWRx.

x = prefered currency. Accumulating or non-accumulating UCITS ETFs.
by galeno
Tue Sep 15, 2020 7:01 am
Forum: Non-US Investing
Topic: New to investing (Chile)
Replies: 24
Views: 1506

Re: New to investing (Chile)

Chile and Costa Rica are very similar. Both very tied to the USD and both have local currencies which pay higher yields vs the USD. We are older CR retirees that USE cash so we use distributing ETFs. Our port: 50% VWRD + 45% AGUG + 5% CASH As a young accumulator that INVESTS cash your best basic por...
by galeno
Sun Sep 13, 2020 1:58 pm
Forum: Investing - Theory, News & General
Topic: How do you think Vanguard Wellesley Income Fund will do over the next ten years?
Replies: 30
Views: 4056

Re: How do you think Vanguard Wellesley Income Fund will do over the next ten years?

If we were US retired investors we would hold the GRI (galeno retirement index): 25% Wellesley + 25% Wellington + 25% VTRF 2020 + 25% VTRF 2025 Which I created to benchmark our non US retirement portfolio: 50% World Stocks + 30% TBM + 15% TIPS + 5% CASH Our after tax port is beating the before tax "...
by galeno
Sun Sep 13, 2020 10:39 am
Forum: Non-US Investing
Topic: Choose Broker [Portugal]
Replies: 3
Views: 603

Re: Choose Broker [Portugal]

Following.

For non-US investors in the Americas I like Interactive Brokers.

For Europe I hear about Degiros and Saxo Bank as the top choices.
by galeno
Sun Sep 13, 2020 5:50 am
Forum: Non-US Investing
Topic: New to investing (Chile)
Replies: 24
Views: 1506

Re: New to investing (Chile)

As a 30 year old non US investor without US tax treaties you should hold 80% VWRD + 20% WB (World Bonds). You can choose either USD-hedged WB (AGUG) or non-hedged (AGGG). We are older retirees. We prefer the distributing versions of our stock and bond UCITS ETFs. As a young accumulator you may prefe...
by galeno
Sat Sep 12, 2020 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Canadian bank account
Replies: 11
Views: 911

Re: Canadian bank account

If the USA got rid of its FATCA law other countries probably would allow Americans to open bank accounts.
by galeno
Sat Sep 12, 2020 8:49 am
Forum: US Chapters
Topic: How many bogleheads do you know in real life?
Replies: 165
Views: 15588

Re: How many bogleheads do you know in real life?

I know 2. My wife and oldest child.
by galeno
Thu Sep 10, 2020 8:55 am
Forum: Investing - Theory, News & General
Topic: Vanguard International Bonds
Replies: 42
Views: 3468

Re: Vanguard International Bonds

We are non-USA investors. Our current FI allocation is 90% USD / USA domiciled investment grade bonds. 30% TIPS + 30% Corps + 30 % US Treas + 10% CASH. At some point we will go 90% USD hedged world bonds (42% USD + 24% Euro + 37% the rest). Diversification is the only free lunch in investing. 80% De...
by galeno
Thu Sep 10, 2020 8:40 am
Forum: Non-US Investing
Topic: Brexit impact on Irish domiciled ETFs traded on LSE
Replies: 15
Views: 1218

Re: Brexit impact on Irish domiciled ETFs traded on LSE

Is using a separate bank for the custodian important when using non-US bourses (stock exchanges)? When we switched our non-USA corporate account from Schwab International to IBKR our financial advisor made a big deal about who would be the custodian. He said the custodian is very important once one ...
by galeno
Wed Sep 09, 2020 3:18 pm
Forum: Personal Consumer Issues
Topic: Older Women Lifting Weights
Replies: 159
Views: 16844

Re: Older Women Lifting Weights

Jumping 20 lb seems like a lot. This is what I do. Load enough weight so you will "fail" at 8 reps. Every week or so add one rep to your set. When you can do 12 reps you add weight to fail at 8 and go up again. "My questions are, how soon should I move to the next level - 20lbs? I tried it once alre...
by galeno
Wed Sep 09, 2020 1:37 pm
Forum: Non-US Investing
Topic: hedging of local currency
Replies: 15
Views: 802

Re: hedging of local currency

The question regarding currency hedging of world bond funds is an interesting one. We are leaning towards hedged. But I completely understand the non-US investors that do not hedge. Important to read this considering your local currency has 0% interest rates:https://www.economist.com/finance-and-eco...
by galeno
Wed Sep 09, 2020 1:32 pm
Forum: Personal Consumer Issues
Topic: Older Women Lifting Weights
Replies: 159
Views: 16844

Re: Older Women Lifting Weights

I've switched it up a bit. 40 min per day. M&R weights. T&F yoga. W&S cardio. My weekly exercise strategy is simple. 60 min resistance, 120 min cardio, and 120 min flexibility. On top of that I try to walk a lot. Just curious - do you have specific days for resistance, cardio and flex or do you try ...
by galeno
Wed Sep 09, 2020 1:24 pm
Forum: Non-US Investing
Topic: IB Doesn't Like Panama Anymore [Interactive Brokers]
Replies: 33
Views: 2837

Re: IB Doesn't Like Panama Anymore [Interactive Brokers]

I brought this up with our team (2 lawyers, cpa, and financial advisor). I asked why don't we create or buy a corp from nevada or delaware? That way we could use USA domicled ETFs. Just like the Americans. The answer best answer came from our Panamanian lawyer. He said "Thousands of Americans, men f...
by galeno
Tue Sep 08, 2020 3:11 pm
Forum: Non-US Investing
Topic: Using Swiss Bank and Taxes
Replies: 22
Views: 2491

Re: Using Swiss Bank and Taxes

Our 40 years of investing has been an exercise of slowly but steadily decreasing portfolio investment costs. As non US investors. We started at our local bank investing in "funds". We were easily paying 3% plus. Probably more. I hate to think about it. 40 years later those costs are down to 0.28%. O...
by galeno
Tue Sep 08, 2020 2:51 pm
Forum: Non-US Investing
Topic: hedging of local currency
Replies: 15
Views: 802

Re: hedging of local currency

I agree. Also don't sell low and buy high. We'd like to own hedged world bonds. But we own USA / USD bonds. The USD is low so we'll wait until the USD is stronger. Buy low sell high. Here is a rule to follow if interest rates and inflation are higher for your local currency compared to the currency ...
by galeno
Mon Sep 07, 2020 5:00 pm
Forum: Non-US Investing
Topic: IB Doesn't Like Panama Anymore [Interactive Brokers]
Replies: 33
Views: 2837

Re: IB Doesn't Like Panama Anymore [Interactive Brokers]

We are about to find out the cost of setting up a BVI pass through corporation with 3 different corporate bank accounts. I have a bad feeling it's going to cost more than we want. Our CR and Panamanian corps were set up and maintained by attorneys who are OLD family friends. We get good deals. We ar...
by galeno
Mon Sep 07, 2020 11:48 am
Forum: Non-US Investing
Topic: hedging of local currency
Replies: 15
Views: 802

Re: hedging of local currency

I too enjoyed the beautiful Czech Republic and Slovakia. We went there for a futbol (soccer) tournament in 2010.

Great trip!

Our son was on the U17 Costa Rican national team. We traveled with the team.
by galeno
Mon Sep 07, 2020 11:41 am
Forum: Non-US Investing
Topic: Brexit impact on Irish domiciled ETFs traded on LSE
Replies: 15
Views: 1218

Re: Brexit impact on Irish domiciled ETFs traded on LSE

This.
imperia wrote: Sun Aug 11, 2019 2:28 pm All Irish ETF are also listed on Amsterdam, Milan, Frankfurth,...
by galeno
Mon Sep 07, 2020 11:22 am
Forum: Non-US Investing
Topic: hedging of local currency
Replies: 15
Views: 802

Re: hedging of local currency

My opinion. Others will differ. We prefer hedged WB. USD / Euro Hedged World Bonds will demonstrate less short term volatility vs the non-hedged WB. We hold bonds to reduce our port's volatility. We hold AGUG. You should hold AGGH. AGGG (unhedged WB UCITS ETF) holds 42% USD + 24% Euros + 37% Others....
by galeno
Mon Sep 07, 2020 9:22 am
Forum: Non-US Investing
Topic: IB Doesn't Like Panama Anymore [Interactive Brokers]
Replies: 33
Views: 2837

Re: IB Doesn't Like Panama Anymore [Interactive Brokers]

This is not correct. I just found out that one of our national (not private) banks "Banco de Costa Rica" will open a regular simple bank account for a US person without legal residency or a costly Costa Rican corporate middleman. Apparently the other CR banks do NOT want to deal with the USA FATCA c...
by galeno
Mon Sep 07, 2020 8:50 am
Forum: Non-US Investing
Topic: hedging of local currency
Replies: 15
Views: 802

Re: hedging of local currency

We have a similar situation in the Americas. We live in a small Central American country with its own currency. But our "real currency" is the USD. Right now our 50% FI allocation is 50% USA / USD investment grade bonds + 10% USD cash. Soon we will use world bonds hedged to the USD. Our port: 50% VW...
by galeno
Sun Sep 06, 2020 12:32 pm
Forum: Non-US Investing
Topic: My ESL Problem and PC
Replies: 1
Views: 268

My ESL Problem and PC

Thank you ladygeek. English is my second language. This is a US centric board. My philosophy hss always been "When in Rome do as the Romans". I DO make politically incorrect errors. But I don't even know it! My English is stuck in the 1950s and 1960s. I'm very good with Standard English but terrible...
by galeno
Sun Sep 06, 2020 11:31 am
Forum: Non-US Investing
Topic: IB Doesn't Like Panama Anymore [Interactive Brokers]
Replies: 33
Views: 2837

Re: IB Doesn't Like Panama Anymore [Interactive Brokers]

I know 3 countries VERY well. My own and my neighbors. In these countries families and friends still matter. A lot. Unlike many of my fellow countymen I love and appreciate our immediate neighbor countries. My country is still "the best" but that could change. All 3 are HOME for me. Wife is more "CR...