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by Leeraar
Fri May 20, 2016 12:12 pm
Forum: Personal Investments
Topic: can you withdraw from 529 post graduation date?
Replies: 5
Views: 1720

Re: can you withdraw from 529 post graduation date?

So, go buy a laptop. No one is going to match up your purchase date with a graduation date. Just be able to prove you were a student in 2016.

Or, even better, enroll at a community college for some class you always wanted to take, and also buy yourself a laptop.

L.
by Leeraar
Fri May 20, 2016 11:46 am
Forum: Investing - Theory, News & General
Topic: Burton Malkiel: "I think [commodities] should be in every portfolio."
Replies: 35
Views: 6221

Re: Burton Malkiel: "I think [commodities] should be in every portfolio."

Whakamole wrote:
Taylor Larimore wrote:
Can Bogleheads please comment on Burton Malkiel's idea that commodities producers should be in every portfolio?
neomutiny06:

Total market index funds hold the market weight in commodity companies.

Keep investing simple.

Best wishes.
Taylor
Note that if you are only holding mutual funds with US companies (like Mr. Bogle has suggested), then you are not "market weight in commodity companies" since many are based overseas - this includes some of the larger oil companies (Royal Dutch Shell, Total) and many miners (just 7% of Vanguard Precious Metals and Mining is invested in US companies.)
Well, sort of. The question is not are they US companies, but are they in the index being tracked?

L.
by Leeraar
Fri May 20, 2016 10:58 am
Forum: Personal Investments
Topic: Is my Financial Advisor worth his salt?
Replies: 56
Views: 7461

Re: Is my Financial Advisor worth his salt?

theDON2050 wrote:
BobDaBlob wrote:
Nowadays I would not invest in a non-deductible traditional IRA unless the contribution could be converted in a short reasonable time to a Roth IRA.
Why is that, livesoft?
Feel free to pm me if that's preferable to hijacking this thread.
Please also tag me on that pm or just hijack the thread. I don't want to miss out on Livesoft spreading knowledge.
I think the question has been answered. You are converting capital gains into ordinary income. (See above.)

L.
by Leeraar
Fri May 20, 2016 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Leaving real estate to kids
Replies: 20
Views: 2897

Re: Leaving real estate to kids

I was not born in the USA. The tradition was that an estate would be sold at auction and the proceeds divided. The heirs were welcome to come to the auction and bid on anything they wanted. My father left us two real estate problems. (My mother died 12 years before he did.) I have a brother and a sister. The first was his house, left to the three of us. Except that his second wife had the use of it so long as she was alive. That was in 1992, she is still alive. We eventually bought her out and she moved to another city to be closer to her own children. See: Usufruct. The second was a piece of land that only my brother had any attachment to. My sister and I ganged up on him. We had it appraised, then told him he could either buy us out at a ...
by Leeraar
Fri May 20, 2016 6:54 am
Forum: Investing - Theory, News & General
Topic: Burton Malkiel: "I think [commodities] should be in every portfolio."
Replies: 35
Views: 6221

Re: Burton Malkiel: "I think [commodities] should be in every portfolio."

Read Malkiel to understand the market.

Do not take his specific advice.

L.
by Leeraar
Fri May 20, 2016 6:50 am
Forum: Investing - Theory, News & General
Topic: safe alternative to stock market
Replies: 62
Views: 10104

Re: safe alternative to stock market

Cash under your mattress?

L.
by Leeraar
Fri May 20, 2016 6:37 am
Forum: Personal Investments
Topic: Defined benefit plan. Should I "buy" extra years of service?
Replies: 22
Views: 4869

Re: Defined benefit plan. Should I "buy" extra years of service?

Leeraar wrote:I'd take it. The SWAN (sleep well at night) factor is underrated by most people.

L.
I should have said, while this is a good deal, delaying Social Security is a VERY good deal. Can you plan on doing both?

You should. If so, the pension and SS after age 70 will likely cover your cash flow needs. Done.

L.
by Leeraar
Fri May 20, 2016 3:55 am
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 233
Views: 11488

Re: Pride in no inheritance to kids?

There is another thread on what did you do with your kids' stuff after they moved out? A few kids replied their parents were saving stuff the kids were not interested in.

You can't will your dreams.

So far as I am concerned, our kids will graduate debt free. Done.

Yes, there will probably be a legacy, but we are done.

We don't have kids with special needs or disabilities, but if we did, we'd have to rewrite the whole equation.

L.
by Leeraar
Fri May 20, 2016 3:39 am
Forum: Personal Finance (Not Investing)
Topic: Leaving real estate to kids
Replies: 20
Views: 2897

Re: Leaving real estate to kids

Stipulate it be appraised and put on the market. The kids split the proceeds. If one of them wants to bid, they are free to do so. The price comes out of their share.

A lawyer once told me, "You can't will an obligation".

A good friend once told me, "Make a detailed list of everything that needs to be done with your stuff after you die. Then, do it yourself now, for they won't".

L.
by Leeraar
Fri May 20, 2016 3:15 am
Forum: Personal Consumer Issues
Topic: Is living in the Bay Area this difficult?
Replies: 49
Views: 11484

Re: Is living in the Bay Area this difficult?

Wow.

You should contrast your choice with moving to the MidWest (Ohio, Illinois, Indiana) or MidEast (Carolinas, Virginias). Just so much less hassle.

Did someone mention earthquakes?

L.
by Leeraar
Fri May 20, 2016 2:56 am
Forum: Personal Investments
Topic: Defined benefit plan. Should I "buy" extra years of service?
Replies: 22
Views: 4869

Re: Defined benefit plan. Should I "buy" extra years of service?

I'd take it. The SWAN (sleep well at night) factor is underrated by most people.

L.
by Leeraar
Fri May 20, 2016 2:43 am
Forum: Personal Investments
Topic: can you withdraw from 529 post graduation date?
Replies: 5
Views: 1720

Re: can you withdraw from 529 post graduation date?

This past May? 2015 or 2016?

L.
by Leeraar
Thu May 19, 2016 7:18 pm
Forum: Personal Investments
Topic: Is my Financial Advisor worth his salt?
Replies: 56
Views: 7461

Re: Is my Financial Advisor worth his salt?

NotWhoYouThink and Leeraar, knows what I'm talking about. (I think :?: ) It's not too much, to say; Us early proponents of IRAs and 401ks are now facing RMD issues, in that we will be good higher paying taxpayers where we were once good low paying taxpayers. This is exactly what was promised 35 years ago... Only now the deferred retirement taxes are coming due because of the high retirement IRA incomes. There is a possible window where one can still pay low taxes and have high savings/retirement but you have to plan carefully. The longer you wait, the window of opportunity changes. Perhaps this is what your FA is talking about? :?: :idea: :annoyed As for our deferred annuities, which are in IRAs, they may be a problem at RMD and then again...
by Leeraar
Thu May 19, 2016 1:24 pm
Forum: Personal Investments
Topic: Is my Financial Advisor worth his salt?
Replies: 56
Views: 7461

Re: Is my Financial Advisor worth his salt?

itstoomuch wrote: ^ both And yes, We do have too much in IRA deferreds. We are nearing RMD age and will be in 25% bracket for every dollar that RMD requires. And we don't need the money from the RMD's. Let's take this to the extreme for OP. OP is on the cusp of being in a tax situation where it is more advantageous to be in taxables. Suppose OP's income is $500,000. What are the possibilities and why? YMMV The taxman cometh. Sorry, but what you are complaining about is the deal you signed up for those many years ago. L. Exactly. The poster is sorry for having signed up for that deal many years ago, and is being kind enough to warn others to look for other options. It is highly unlikely that a deductible IRA made decades ago and now facing ...
by Leeraar
Thu May 19, 2016 12:13 pm
Forum: Personal Investments
Topic: Is my Financial Advisor worth his salt?
Replies: 56
Views: 7461

Re: Is my Financial Advisor worth his salt?

itstoomuch wrote:^ both
And yes, We do have too much in IRA deferreds. We are nearing RMD age and will be in 25% bracket for every dollar that RMD requires. And we don't need the money from the RMD's.

Let's take this to the extreme for OP. OP is on the cusp of being in a tax situation where it is more advantageous to be in taxables.
Suppose OP's income is $500,000. What are the possibilities and why?

YMMV
The taxman cometh.

Sorry, but what you are complaining about is the deal you signed up for those many years ago.

L.
by Leeraar
Thu May 19, 2016 11:43 am
Forum: Personal Investments
Topic: Is now a bad time to transfer money to Vanguard???
Replies: 48
Views: 7631

Re: Is now a bad time to transfer money to Vanguard???

I just moved and I'm very happy that I did. All my funds transfered over and there is no pressure or need to change or liquidate anything. Just do the transfer. I called and asked first and it was a total of $125 of fees charged by MetLife ( they held my IRA ) very glad I made the switch. It took about 5-7 days before they contacted MetLife and another 3-4 after that before the funds started showing up at the account I opened at Vanguard. Another 2-3 after before I could access anything. Oh I should tell you to sell non vanguard funds there is a $35 fee Vanguard charges per fund you sell. That can add up depending. I have 6 I want to get rid of but quick math tells me I'll be - $215 just to do that so I'm not doing it all at once. That was...
by Leeraar
Thu May 19, 2016 11:14 am
Forum: Personal Investments
Topic: Is my Financial Advisor worth his salt?
Replies: 56
Views: 7461

Re: Is my Financial Advisor worth his salt?

I am sure he's worth his salt. The question is, is he worth YOUR salt?

L.
by Leeraar
Thu May 19, 2016 10:17 am
Forum: Personal Consumer Issues
Topic: Making an Outdoor Grill Last
Replies: 39
Views: 7082

Re: Making an Outdoor Grill Last

I presume you're talking about a gas grill. Buy the one with the longest warranty on the burners. My last one was from Sears, with a 10-year warranty. I was surprised to see warranties as low as one year on some pretty expensive setups.

When gas burns there is a lot of water in the combustion products, and that is pretty corrosive. Not much you can do about it. It's not going to rust out because of the weather.

L.
by Leeraar
Thu May 19, 2016 9:50 am
Forum: Personal Consumer Issues
Topic: When do you use cash, when a credit card?
Replies: 49
Views: 7787

Re: When do you use cash, when a credit card?

TheRightKost87 wrote:The chip readers are slow for the most part - ...
The chip readers in my area have gotten dramatically faster in the last month or two. It now takes just a couple of seconds.

L.
by Leeraar
Wed May 18, 2016 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: "Don't you dare figure it out on your own!"
Replies: 38
Views: 9791

Re: Looking for an advisor

Taylor Larimore wrote:
leeraar wrote:Taylor, so there's the classic problem. How do you choose someone who chooses well? It's much the same issue as picking a good fund manager. So far as fund managers are concerned, we know it cannot be done.
Leeraar:

If I were looking for an advisor, and they told me they could "beat the market," I would immediately look elsewhere.

Best wishes.
Taylor
Taylor, I think it's more subtle than that. The financial advisors are promising that they know better than you do. They are not informing you of the true accumulated costs of the fees they do disclose, never mind the fees and commissions (12-b1s, front and back end loads, higher ERs, transaction fees, ...) they do not disclose.

L.
by Leeraar
Wed May 18, 2016 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: My dilemma ... 1099 or W2. Client assures me no difference.
Replies: 29
Views: 5303

Re: My dilemma ... 1099 or W2. Client assures me no difference.

So, bottom line is, client is telling me that whether I do W2 or 1099 with him, money wise, it won't make a difference for me because I already have a 150k W2 salary from another employer. Is this true? If I do 1099, I can also write more things off showing that I am a business, right? Thank you. I worked in this exact scenario for many years. If you are offered the 1099 opportunity, absolutely do it. With your W2 salary you are already maxing out the FICA + MC wage base. With the 1099 you can max out a solo 401k. Insofar as deductions against 1099 income... remember that the amount you can put into a solo 401k is based on your NET income, so don't try to be too creative with deductions or you lose out on the biggest advantage of a solo 40...
by Leeraar
Wed May 18, 2016 1:12 pm
Forum: Personal Consumer Issues
Topic: Did your children ever completely move out?
Replies: 53
Views: 7720

Re: Did your children ever completely move out?

peppers wrote:Nothing was left in the house but moving along to the garage we find 2 motors, a transmission, a 2-1/4 ton lift......
I feel your pain. Plus, the piles of wheels with tires.

L.
by Leeraar
Wed May 18, 2016 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: My dilemma ... 1099 or W2. Client assures me no difference.
Replies: 29
Views: 5303

Re: My dilemma ... 1099 or W2. Client assures me no difference.

noraz123 wrote:
Leeraar wrote:I'd at least get an LLC and a TIN.
I'd say this would depend on the state you are in. For example, in CA, you will pay an $800 (perhaps more now?) annual fee/tax for having the LLC. Not usually worth it for many consultants. When I consulted, I never formed an LLC.

However, if you are in a line of work that is litigious, you definitely would want to limit your liability, either through a business entity like an LLC and/or additional insurance.
In Michigan, an LLC is $25 and five minutes online, per year. Mine sort of protects my employers in they are not paying me directly, and it also segregates the tax issues into buckets.

L.
by Leeraar
Wed May 18, 2016 12:06 pm
Forum: Investing - Theory, News & General
Topic: Another Bernstein Gem-Don't be Greedy
Replies: 42
Views: 13065

Re: Another Bernstein Gem-Don't be Greedy

Here is a gem from awhile back...for those who maintain a eighty percent plus stock allocation well into retirement, if you get hit at the wrong time it can a disaster... curious as to BH responses to this..makes sense to me. http://www.wsj.com/articles/how-to-tell-if-your-retirement-nest-egg-is-big-enough-1421726456 How does this change if you retire with a bit of padding in your account? I get that some people are determined to walk out the door the day they hit $X and start enjoying their freedom. But for those who keep going a little while longer and build a cushion of 15%-25% or more, how does this related to them? Are they able to afford more risk then likely get more reward? This is not to say I think it is wise to enter retirement ...
by Leeraar
Wed May 18, 2016 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: My dilemma ... 1099 or W2. Client assures me no difference.
Replies: 29
Views: 5303

Re: My dilemma ... 1099 or W2. Client assures me no difference.

I'd at least get an LLC and a TIN.

I'd also recommend asking the company about contract houses they use. That's what my son did, it worked out well.

Another thing is, if there is no prospect of becoming a regular employee, I'd walk away. There are companies that staff up for a particular project and, the day the project is done, everyone is terminated.

In my son's case, he was unqualified for the job, so they hired him as a contractor to kick the tires, so to speak. Five months later, they took him on as a regular employee.

L.
by Leeraar
Wed May 18, 2016 11:06 am
Forum: Personal Consumer Issues
Topic: Emergency Preparedness
Replies: 75
Views: 10634

Re: Emergency Preparedness

quantAndHold wrote:Growing up in California, we learned in elementary school how to be prepared for earthquakes. Nowadays, the CDC seems to think it's more important to be prepared for the zombie apocalypse.

http://blogs.cdc.gov/publichealthmatter ... pocalypse/
The head of Homeland Security was on TV Tuesday claiming 100% success in preventing any zombie apocalypse.

L.
by Leeraar
Wed May 18, 2016 10:56 am
Forum: Investing - Theory, News & General
Topic: Another Bernstein Gem-Don't be Greedy
Replies: 42
Views: 13065

Re: Another Bernstein Gem-Don't be Greedy

Yes, There is this myth that your retirement strategy is a set and forget thing. I approach it from the idea, "This is the first year of the rest of your retirement." The past does not matter. With that in mind, I have 6-8 years of expenses in short term bonds, but we are tapping the balanced fund for current living expenses. If things really go south, we'll tap the bonds. Since the market has been kind recently (I am 65, retired in 2008) this is working pretty well. In 2.5 years we get to claim my wfe's FRA SS, and my spousal benefit, and at 70 I get my larger delayed SS entitlement. I see the bonds as an insurance policy for a market disaster, and spending down stocks in favor of delaying SS as a dramatic reduction in risk. When...
by Leeraar
Wed May 18, 2016 1:16 am
Forum: Personal Finance (Not Investing)
Topic: My dilemma ... 1099 or W2. Client assures me no difference.
Replies: 29
Views: 5303

Re: My dilemma ... 1099 or W2. Client assures me no difference.

Where do you live? In some places, like Detroit, contract work is a normal way to do business. There is a premium, 20-40% to cover benefits like health care, SS, vacation time, 401k match, unemployment insurance, and the like. There are contract houses who will take care of all of that bureaucracy and paperwork and "rent" you to the company you work for.

I'd be careful of DIY plans. Solo 401ks, business deductions (like home office) and co-employment are real issues that the Feds may come after.

L.
by Leeraar
Wed May 18, 2016 1:05 am
Forum: Personal Consumer Issues
Topic: Emergency Preparedness
Replies: 75
Views: 10634

Re: Emergency Preparedness

When we had the great blackout, we were without power for three weeks. The biggest hassle was getting gasoline for the small generator we have that can run our fridge.

Had converted the home stove to natural gas, so cooking was no problem. Also, have a propane grill.

Hard to imagine losing the water supply, but there is 40 gallons in the water heater.

My plan covers an extended power outage for a few miles around. In the event of a zombie apocalypse or an alien invasion, we are toast.

L.
by Leeraar
Wed May 18, 2016 12:48 am
Forum: Personal Consumer Issues
Topic: When is cash better than plastic?
Replies: 74
Views: 11548

Re: When is cash better than plastic?

Toll roads when visiting back east (yikes, we needed to pay about 10 times last month). When you pay cash for tolls these days, you are paying twice as much as you would with a toll transponder. Get yourself a toll transponder. Mine is from Illinois. I-Pass. It works across the Northeast USA. Massachusetts is good, but they do not want out-of-staters to have their transponders. Other states charge a monthly fee, not good for occasional use. There is apparently a mandate to commonize toll systems, so it should work in the future in places like Texas, where it now does not. Get some Velcro stick-ums from Office Depot or a craft store and easily switch it between cars. Do not register the plate of a car you do not own, like a rental car. L.
by Leeraar
Tue May 17, 2016 7:36 pm
Forum: Personal Consumer Issues
Topic: garden hose
Replies: 46
Views: 6603

Re: garden hose

Maybe it's your fault. Do you wind the hose up to store it? And then not unwind it when you take it out? The same applies for long extension cords.

You should fold them in half end to end, in half again, in half again, ... until you can hang them up neatly. Winding them will cause them to kink and entangle after only a few uses.

For garden hoses buy better quality rubber ones. The cheaper plastic / nylon ones stiffen in the sun in only a few months.

L.
by Leeraar
Tue May 17, 2016 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: "Don't you dare figure it out on your own!"
Replies: 38
Views: 9791

Re: Investment Advisers: What You Need to Know Before Choosing One

Taylor Larimore wrote:ChurchLady:

The SEC has a list of what to look for when hiring an investment advisor. This is the link:

Investment Advisers: What You Need to Know Before Choosing One

Best wishes.
Taylor
Taylor,

So there's the classic problem. How do you choose someone who chooses well? It's much the same issue as picking a good fund manager. So far as fund managers are concerned, we know it cannot be done.

L.
by Leeraar
Tue May 17, 2016 5:19 pm
Forum: Personal Consumer Issues
Topic: Arrgghhh !!! Windows 10 installed overnight
Replies: 92
Views: 15010

Re: Arrgghhh !!! Windows 10 installed overnight

i was on an unrelated webinar yesterday. They quoted a survey about the two things computer users hate most:

1. The staus quo, what they have.
2. Change.

Priceless, isn't it?

L.
by Leeraar
Tue May 17, 2016 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: "Don't you dare figure it out on your own!"
Replies: 38
Views: 9791

Re: "Don't you dare figure it out on your own!"

I find the whole drawdown situation a LOT more complicated than the accumulation/investment situation. Taxes are a lot more complicated, especially extended to SS and Medicare premiums, there are a number of pots from which to draw, and complexity associated with being married but knowing that it is likely that one of us will end up widowed sooner or later. Add in a house with a huge capital gain, and there are a lot of questions that don't have such easy answers. I'm trying to learn more about this as we move closer to retirement, but it wouldn't bother me at all to pay for some professional assistance. Unfortunately, I'm not sure that a CFP is going to have the tools necessary to help figure some of this stuff out. I found the books by M...
by Leeraar
Tue May 17, 2016 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Records
Replies: 12
Views: 2253

Re: Tax Records

DaftInvestor wrote:I realize I am probably being paranoid with the IRS likley looking for folks that likely dodged millions in taxes in obvious fraud ...
I don't think so. Keep the records for as long as you see a reason to.

My reading is that the IRS has six years to cry foul, and then forever to pursue you. Certainly, I would not discard old records while any open issues remain.

I have my own very funny personal IRS story, but that can wait for another day.

L.
by Leeraar
Tue May 17, 2016 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Records
Replies: 12
Views: 2253

Re: Tax Records

DaftInvestor wrote:This topic always confuses me and here's why. When you read the IRS rules - it says they can go back a limitless number of years for a fraudulent return. So if they think I have a fraudulent return from 15 years ago - don't I need my records to prove it isn't fraudulent?

I've got all my returns/records up in the attic....One box per every 5 years doesn't take up too much space up there :)
I think the situation is not as dark as you say.

http://tax.findlaw.com/tax-problems-aud ... n-on-.html

L.
by Leeraar
Tue May 17, 2016 1:46 pm
Forum: Personal Investments
Topic: Pension or Lump Sum?
Replies: 11
Views: 2417

Re: Pension or Lump Sum?

KSActuary wrote:Looks like the pension versus lump sum comparison is a wash so I would elect the pension due to its 100% death benefit to your wife.

Use the $195,000 in your allocation calculations when determining your AA.

Good luck.
I disagree slightly. A pension is not a bond.

Figure out your required cash flow. I did that by calculating subtractions (commuting, clothes, mortgage, savings) and additions (travel, car, health care) to my pre-retirement cash flow. Then subtract your pension, Social Security and other income. The net cash flow is what you need to fund from savings: that's what might drive your AA decision for your savings.

L.
by Leeraar
Tue May 17, 2016 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: "Don't you dare figure it out on your own!"
Replies: 38
Views: 9791

Re: "Don't you dare figure it out on your own!"

MN Finance wrote:Even when someone wants a fee only planner to help them almost all the responses throw the idea out the window, because why blow a few hundred dollars when making some of the most important decisions of your life. Good Lord.
If good advice was easy to find, I'd agree. Also, fee only does not exclude AUM fees. It just means they do not get kickbacks from the products they recommend. Caveat emptor.

L.
by Leeraar
Tue May 17, 2016 3:20 am
Forum: Personal Investments
Topic: Pension or Lump Sum?
Replies: 11
Views: 2417

Re: Pension or Lump Sum?

Read the Wiki on Lump Sum vs. Pension.

L.
by Leeraar
Tue May 17, 2016 3:12 am
Forum: Personal Finance (Not Investing)
Topic: "Don't you dare figure it out on your own!"
Replies: 38
Views: 9791

Re: "Don't you dare figure it out on your own!"

Church Lady wrote:OP here.

Thanks for all the replies and perspectives! I have the Jane Bryant Quinn book in hand -- it arrived last week and I'm just getting into it. I will probably order the other books as well.

Some have suggested the presenter was gaming us for referral kickback. This is unlikely. If we were to call the money coach desk, it's barely possible but unlikely we'd be directed to him, so little to no opportunity for a referral kickback. He seemed more worried about expensive and irrevocable decisions such as pension vs lump sum. Not everyone at MegaCorp reads the Bogleheads forum :-), so some retirees just won't be prepared.
Please read the BH Wiki on pension vs. lump sum. It is excellent! (I wrote it.)

L.
by Leeraar
Tue May 17, 2016 3:09 am
Forum: Personal Investments
Topic: Early retirement: how to protect savings needed before age 59.5 against inflation?
Replies: 14
Views: 3365

Re: Early retirement: how to protect savings needed before age 59.5 against inflation?

No.

Inflation is the rise in the cost of goods and services. The way to protect against inflation is to invest in companies that provide goods and services.

The problem with inflation hedges like TIPS or gold (supposedly a hedge) is that they only protect the dollars you have invested in them. What about the rest of your portfolio?

If inflation is really such a concern, you should work longer to increase your Social Security benefits, and then also delay taking SS to further increase your inflation-indexed income.

Inflation insurance is expensive and, in my opinion, not worth the cost.

L.
by Leeraar
Tue May 17, 2016 2:56 am
Forum: Personal Consumer Issues
Topic: College - In state - Children staying close to parents
Replies: 54
Views: 9936

Re: College - In state - Children staying close to parents

I guess I don't get the question.

Four years in-state at U. of Michigan costs about the same as one year at Princeton.

I have a friend from Boston who solved the problem this way: He retired and moved to be closer to their kids, after his kids had graduated and gotten jobs. He seems very happy living in Ann Arbor.

L.
by Leeraar
Mon May 16, 2016 11:54 pm
Forum: Personal Investments
Topic: Won the game - time to quit playing?
Replies: 46
Views: 11047

Re: Won the game - time to quit playing?

Dandy wrote:
I actually reached the goal quite early and just blasted through it and continued saving. By the time I actually retired seven years later, we had 2x what we really needed. That is a very nice cushion to have.
Indeed. If that was the only outcome it would be great. The safe part was to continue saving.
Oh, yes.

By that time I was up to saving 25% of my salary in the 401k and fully funding IRAs. It was low risk and no pain to continue.

In retrospect, I should have taken some money off the table in 2000, but it turned out OK.

L.
by Leeraar
Mon May 16, 2016 11:47 pm
Forum: Investing - Theory, News & General
Topic: Another Bernstein Gem-Don't be Greedy
Replies: 42
Views: 13065

Re: Another Bernstein Gem-Don't be Greedy

Miriam2 wrote:Leeraar, you have an interesting life :happy
Leeraar wrote:I have a friend who is a semi-famous British eccentric. He once told me: "Write down in detail what your heirs should do with your collection and other records. Then, do it yourself now, for they will not do it when you are gone." Very excellent advice.
And I'm sure it brings you great pleasure to have your carefully created collection so nicely archived in a good place while you are still here to enjoy the experience.
Yes, and also looking forward to improving the collection with further donations and acquisitions in the next few years.

L.
by Leeraar
Mon May 16, 2016 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Records
Replies: 12
Views: 2253

Re: Tax Records

Mt opinion:

Keep seven years' of returns with supporting documentation.

Keep the actual returns forever.

Keep supporting documentation forever or as long as you need to. That includes IRA basis (Form 8606), investment or collectibles purchase records, and HSA records, including records of unclaimed medical expenses.

L.
by Leeraar
Mon May 16, 2016 11:14 pm
Forum: Personal Consumer Issues
Topic: When do you use cash, when a credit card?
Replies: 49
Views: 7787

Re: When do you use cash, when a credit card?

I use a credit card whenever I can, with no mental minimum.

Even for a senior coffee and breakfast burrito at MacDonald's. I was surprised to see that the $1.87 was "free" the other day because they used my AMEX points.

L.
by Leeraar
Mon May 16, 2016 11:04 pm
Forum: Personal Consumer Issues
Topic: Ford Extended Service Plan Issue
Replies: 4
Views: 1675

Re: Ford Extended Service Plan Issue

I'd [(complain) --admin LadyGeek]. Point out that GM gives a 100k mile powertrain warranty with no extra charge.

Call them over again, until someone gives you an acceptable answer and resolution.

Find a Ford owners' discussion forum, and start complaining there.

L.
by Leeraar
Mon May 16, 2016 10:56 pm
Forum: Personal Investments
Topic: Won the game - time to quit playing?
Replies: 46
Views: 11047

Re: Won the game - time to quit playing?

chx wrote:
Leeraar wrote:
chx wrote:You likely have a self-defeating mindset if you're viewing these issues as a game that must be won or lost.
I agree about the terminology, but for anything in life, if you are trying to reach a goal and you do, should you not stop and be done? Especially if continuing may jeopardize the accomplishment of that goal?

L.
I see what you're saying, and it does have some fun in saying "I won life!" Might be a good time to self-reflect on future goals.
I actually reached the goal quite early and just blasted through it and continued saving. By the time I actually retired seven years later, we had 2x what we really needed. That is a very nice cushion to have.

L.
by Leeraar
Mon May 16, 2016 10:49 pm
Forum: Investing - Theory, News & General
Topic: Another Bernstein Gem-Don't be Greedy
Replies: 42
Views: 13065

Re: Another Bernstein Gem-Don't be Greedy

Are we confusing our Bernsteins?

L.
by Leeraar
Mon May 16, 2016 10:46 pm
Forum: Investing - Theory, News & General
Topic: Another Bernstein Gem-Don't be Greedy
Replies: 42
Views: 13065

Re: Another Bernstein Gem-Don't be Greedy

I am having a great time endowing a special collection at an archival library. They just told me that more than half the books I gave them do not exist in any library in the USA, and that about 20% of them are not in any library anywhere else in the world. We are working together to improve the collection. Holy cow Leeraar! Where'd you get those books :shock: I collected them over the past 35 years since 1980. I scoured the internet and used book stores. I bought a couple of private collections (50+ books each) at auction. Many, of course, were bought new. There is a total of about 300 volumes, maybe 45 feet of shelf space. OK. The book collection is on the genealogy of South Africans of European descent. That genealogy is surprisingly wel...