Search found 1180 matches

by Wildebeest
Sat Dec 14, 2019 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Potential employer asking for [PII] as condition for interview
Replies: 46
Views: 3539

Re: Potential employer asking for SSN/DL as condition for interview

If I would be in your shoes, I would not give my SSN/DL.

I would hope that you do not need that job. The fact that they are inflexible :" company policy" makes me think that they are not employee centric and that will bleed into other fields such as remuneration/job perks etc. Unless they offer 20 % more than comparable employers do, I would pass without a second thought.

Take my input with a big grain of salt: I last interviewed in 35 years ago.
by Wildebeest
Fri Nov 29, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Cash Balance Defined Benefit Plan
Replies: 26
Views: 4768

Re: Cash Balance Defined Benefit Plan

I too had a cash balance defined benefit plan while self employed. When I was doing it, I thought is was the best thing since sliced bread. For me the advantages were: No tax on forced savings + tax free accumulations on pre tax contributions. At the time it had never occurred to me that in retirement that I would be taxed at the highest rate as well. My back of the envelope calculation showed that in the long run it is a draw. The money I saved from the tax man in the short run went to the cost of creating and keeping the cash balance defined benefit plan while I will pay the tax later at the same tax rate I earned it ( if the future is what I think it will be; of course future tax rates are unknowable). Knowing now what I should have cons...
by Wildebeest
Sun Nov 24, 2019 9:49 am
Forum: Investing - Theory, News & General
Topic: Are You Measuring and Comparing Correctly?
Replies: 40
Views: 7079

Re: Are You Measuring and Comparing Correctly?

I do not measure or compare.

I went the minimalist route. Set it and forget it. I do not look at our investments till tax time. I stopped rebalancing because we have only equity. I stopped tax harvesting because we will never use up the build up of $ 3000 deduction a year.

I sleep well. I do have a heavy heart about the coming crash. But by not checking: Ignorance is bliss.
by Wildebeest
Sun Nov 24, 2019 8:39 am
Forum: Investing - Theory, News & General
Topic: How much money do you need to create generational wealth?
Replies: 78
Views: 16350

Re: How much money do you need to create generational wealth?

Page 21 second paragraph of "The Cycle of Gift" James Hughes, Susan Masenzio and Keith Whitaker:

"Once we were at talking at a gathering of CEOs when one of them interrupted us. "Fine" he grumbled,"I get the point. Money complicates family life. But how about you just answer the darn question we're all wondering about: How much is enough?"

One of us turned to him and said," Seven million dollars". He looked a bit taken aback."Why seven million dollars? he asked. "Well, why not? was the answer." If you need to have a number, seven million seems as good as any other"."
by Wildebeest
Fri Oct 18, 2019 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Legacy/Inheritance
Replies: 61
Views: 8156

Re: Legacy/Inheritance

The expression "Shirt sleeves to Shirt sleeves" in three generations is around in most cultures. So one can plan, but better plan well. I thought this article in the NYT was helpful: https://www.bogleheads.org/forum/viewtopic.php?t=287237. My attempt /suggestions to provide an answer to your questions: 1. You may want to start talking to them now. Even when you would leave them little. 2. That is for you and your wife to decide. I think we have given our children more than I ever got from my parents and I have no interest in creating a legacy. My wife feels differently and it is more important to her than to me so we go with gifting and leaving most of it to the children and grandchildren. 3. I am on my 4 th book https://www.amazo...
by Wildebeest
Sun Oct 13, 2019 8:00 am
Forum: Personal Investments
Topic: Financial Advisor
Replies: 21
Views: 3051

Re: Financial Advisor

My suggestion would be to put your investments you have in the format below and request a review by this forum and then you have your answer if your advisor is worth following to the new bank. .\ Emergency funds: Three to six months of expenses (indicate if you have this, but it is generally not part of your asset allocation) Debt: Indicate if you have any debt (credit card, school loans, car loans, mortgage) and the interest rate you are paying on each loan. Tax Filing Status: (Single, Married Filing Jointly, Married Filing Separately, Head of Household, Qualifying Widow/Widower with Dependent Children) Tax Rate: xx% Federal, xx% State State of Residence: Age: Desired Asset allocation: xx% stocks / xx% bonds Desired International allocatio...
by Wildebeest
Sun Oct 13, 2019 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Updated longevity calculator - from the actuaries
Replies: 21
Views: 3034

Re: Updated longevity calculator - from the actuaries

Thanks for posting.

I especially like the feature that both of a couple are still expected to be alive in the future.

We were celebrating our wedding anniversary a couple of weeks ago and I decided to google the chance that we would be celebrating our anniversary at age 80, 90 and 95. There was no easy calculator to be found and I ended up having to work it out myself the next day while being confident but not sure I had figured it out correctly.

This calculator would have given me the answer in less than a minute.
by Wildebeest
Sun Oct 06, 2019 9:57 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces investment strategy -- opinions?
Replies: 48
Views: 5529

Re: Michael Kitces investment strategy -- opinions?

My two cents: Fluff piece. To get you to use advisors. Case in point: the last paragraph "A financial plan is going to be wrong the next day after you deliver that plan," Ms. O'Leary said. Retirees need regular checkups and forecasts that account for changing market assumptions. "The conversation really needs to happen on an ongoing basis." I like Kitces and I like Pfau. The Pfau quote: Retirement income expert Wade Pfau agreed that the strategy could be especially helpful for people retiring now, which could be one of the most difficult times to retire in history. "We are in uncharted waters," Mr. Pfau said. "We've never had the high valuations and the low interest rates at the same time." in my mind...
by Wildebeest
Fri Sep 27, 2019 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Efficient way of transferring Euro to USD
Replies: 19
Views: 2045

Re: Efficient way of transferring Euro to USD

Another vote for Transferwise and was very pleased. I saved a ton. It went without a hitch.

I found them after reading The Finance Buff's article:
https://thefinancebuff.com/best-interna ... nbanx.html
by Wildebeest
Thu Sep 26, 2019 6:28 pm
Forum: Personal Consumer Issues
Topic: Resources for dealing with very! difficult employees
Replies: 13
Views: 1932

Re: Resources for dealing with very! difficult employees

In the past I paid for employees to go through Landmark Forum. I thought that would be a wonderful resource for people. It was not appreciated. So do not do that.

I am currently reading "Difficult conversations" by Douglas Stone, Bruce Patton and Sheila Heen and while my wife thought it was an easy read I found it more trying. I do recommend it.

Let us know how it goes.
by Wildebeest
Mon Sep 02, 2019 8:53 am
Forum: Personal Consumer Issues
Topic: My new car buying experience.
Replies: 62
Views: 22845

Re: My new car buying experience.

This is True Car, Car, Edmunds, Kelly Blue Book and Consumers Reports, Costco carbuying services are a conduit. This is a quote from James Braggs https://clark.com/cars/whose-side-are-those-new-car-pricing-sites-yours-o/ "So whose side are those new-car pricing sites really on? They deserve praise for the information they provide to help consumers choose vehicles that best fit their needs. And they provide a useful service to shoppers who abhor the negotiating process so much that they’re willing to pay “an average price,” including their “finder’s fee,” to avoid it. But their business models are built to protect dealers’ profitability, not to help you get the best price. Given their industry-dependent relationship, telling you the t...
by Wildebeest
Sun Sep 01, 2019 6:54 am
Forum: Personal Consumer Issues
Topic: My new car buying experience.
Replies: 62
Views: 22845

Re: My new car buying experience.

I had a pretty good experience using the Costco car buying program. The closest dealer did not participate, in fact the only dealer who did participate was ~100 miles away, but the closest dealer was willing to price match... I did not have a good experience with Costco ( I love Costco and this hurts ), I was given one dealer. They were $ 1000 more than the three dealers I had gotten an best out of door price through Consumers Reports. Plus the Costco dealer was one hour away. After that I decided to do the Internet approach and I sent out 15 emails. No phone calls. I had gotten so sick of the whole process that I bought the car after 12 hours after I sent the emails went out. I had to drive 60 miles ( I am pretty sure I could have bought ...
by Wildebeest
Sat Aug 24, 2019 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

just heard a podcast about an employer named Dasher who hires "economically fragile" people. The podcast link is below. One of the ideas they talked about was a matching plan where they'd contribute a certain amount so the person had an emergency fund set up with the help of the employer (because 40% of Americans don't have $400 in savings for an emergency). They also gave an example where the company was dealing with some lateness/difficulties with reliable transportation, etc. and found it made more sense to fill up an employee's flat tire rather than let the employee go (which is costly to retrain, rehire, etc.). So they try to approach situations with an eye on how to retain economically fragile folks despite the numerous cha...
by Wildebeest
Sat Aug 24, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

I would direct the employee to as many charitable and government resources as I could think of. Sometimes larger employers have Employee Assistance Programs that can help with no attribution. The problem with helping is that help soon becomes an entitlement if the employee's head is not in the right place. As a private business owner, or even a corporate manager, I would need to balance the well-being of the business against the well being of the employee. You can't let one employee drive the business, not even the CEO. If the employee is so valuable they cannot be let go or tolerated to leave, that's a failure of management. I've seen multiple such failures in a corporate setting. We all should do our best for each other, but sometimes to...
by Wildebeest
Sat Aug 24, 2019 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Big Dog wrote: Fri Aug 23, 2019 9:53 pm
Question: What would you do?
Sorry, but I would not continue to loan/gift them money. Besides the 401k hardship withdrawal and OT, you could offer to advance the next paycheck. But that just means zero dollars in the paycheck 2 weeks hence.

btw: I would exclude the first sentence of your draft and the "i want to help part' and the Dave Ramsey sent. (An employee would just respond, 'instead of paying $1k to Dave, can you just give it to me?')
Very helpful. Thanks
by Wildebeest
Sat Aug 24, 2019 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Nate79 wrote: Fri Aug 23, 2019 9:51 pm I think offering anything with string attached that they attend the Dave Ramsey financial peace university to be a great idea and is in fact often his recommendation. This type of situation seems to be every other caller on the DR show and he can certainly help get their finances turned around. I would not give a penny unless they attend the class.

Sounds like the husband needs to work about double the hours.
I agree
by Wildebeest
Sat Aug 24, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

fuddbogle wrote: Fri Aug 23, 2019 10:07 pm Is your company big enough to have a fleet of cars? I work for a private company (over 50M) and I could see them loaning a company car to the employee for specified period of time.

I’ve personally given 3k to a friend(10 years ago), who of course, who would pay me back over time. I’ve yet to see the first payment. :P I kinda of expected the end result.
We are a small company and there are no company cars.

Do you still see the friend you "loaned" the 3 K to ?
by Wildebeest
Sat Aug 24, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

9-5 Suited wrote: Fri Aug 23, 2019 10:06 pm You guys are very kind. I would never give a loan to any friend, employee, or family member. It so rarely seems to be a one time event, as you are experiencing.

They need to figure this out on their own for the long-term. Getting bail outs from a dependent relationship helps put out the fire of the moment, but they need a decades long plan for change not a minutes long one.
My wife is very kind. I was not asked for my opinion till we received the email requesting a $ 4000 loan.

I agree with your assessment.
by Wildebeest
Sat Aug 24, 2019 10:50 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Starfish wrote: Fri Aug 23, 2019 9:49 pm We went through a similar situation. I cannot give advice but prepare yourself for a continuous loan if you go this path.
I appreciate the empathy. Actually I think you are in a better position than us to give advice.
by Wildebeest
Sat Aug 24, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Stinky wrote: Fri Aug 23, 2019 9:47 pm
Vanguard Fan 1367 wrote: Fri Aug 23, 2019 9:14 pm
I think Dave Ramsey courses can be helpful. Of course the employee needs to have a teachable spirit.
+1

Dave Ramsey often talks about people “being sick and tired of being sick and tired”. Until people reach the point of being sick and tired, they will not change.

I think that Dave Ramsey’s budgeting and money management advice is excellent. His investing advice, not so much.
I have read articles about Dave Ramsey and postings on the Bogleheads where he was mentioned. I have never listened to his radio program or read anything he has written.

Your point (very gently put) that our helping out will keep her from changing, is well taken.
by Wildebeest
Sat Aug 24, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

If this is a highly valued employee who is not easily replaced, then you might consider a loan. If you have the means to lose the loan money, then given the circumstances, loaning the money might be reasonable under the difficult circumstances being faced. I would first ask myself some additional questions. How will the other employees feel? Will this create tension among the workers and interfere with the culture or success of your business? Our company has extended a loan to a struggling employee with a signed loan document and a payroll deduction for payback over a period of 9 months. But realize that when the home situation becomes more desperate, you could get stiffed. Being kind and generous within your ability to do so is a virtue. ...
by Wildebeest
Sat Aug 24, 2019 9:27 am
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

BillWalters wrote: Fri Aug 23, 2019 9:43 pm I would gift the money and make it clear no additional help is available.
That is what I am leaning to. This will come out of my wife's personal account, not the business account ( our personal accounts are shared). I am concerned that other than making my wife feel better for the short term it will only create more issues down the road.
by Wildebeest
Fri Aug 23, 2019 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

The car was repossessed, but is now looking for money for repairs to a car? Is it a different car? I think putting in the comment about the Dave Ramsey course is absolutely not necessary. These types of situations just go from bad to worse. And, unfortunately, it doesn't take much to go from bad to worse. Cancer, four kids, car repair, and a child with autism. No amount of Dave Ramsey is going to fix this. :annoyed What I would do is to offer to purchase some school supplies for the kids, or buy a gift certificate to Walmart for school supplies/clothing. Maybe the 401k loan to help fix the car? Edited to add: I do like another poster who suggested community assistance such as churches, food banks, etc. They may be willing to guide her in t...
by Wildebeest
Fri Aug 23, 2019 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

This is a tough situation, and tougher because your spouse has already crossed the line by making monetary gifts and loans. This blurs the line of employer, and perpetuates dependency beyond employer/employee. It's hard to unscramble eggs-- so you can't undo the fact that she's been allowed to share too much personal information and become comfortable asking for loans, that are not repaid. You can change what you do going forward. No more loans, no financial gifts. And rethink the OT offer-- can you really project that you need 10 hours of OT each week? Or is this a gift in disguise? If you feel compelled to help, then do a bit of research on appropriate services that are available in your community-- assistance programs through local gove...
by Wildebeest
Fri Aug 23, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Grt2bOutdoors wrote: Fri Aug 23, 2019 9:34 pm I doubt Dave Ramsey is going to be of help here. Sounds like this worker has a very full plate on their hands. Good workers are hard to come by, but if you loan the money you will have a receivable balance of $4,260. Until the next time...

How much are you willing to extend/lose (potentially)?
My number is $ 5000. I just think we will not really doing her any favors by loaning or gifting.
by Wildebeest
Fri Aug 23, 2019 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

HomeStretch wrote: Fri Aug 23, 2019 9:26 pm Tough situation. Given that you have already helped out twice in the last 6 months and are faced with a 3rd request, this sounds like it’s going to be a recurring situation with this employee. Not sure I would want to deal with this workplace drama.

Your suggestions for a 401k withdrawal or to work overtime are good ones.

Hopefully this employee is not in a situation to perpetrate any business fraud out of desperation.
Thanks for your thoughts,

I felt sad, that when my spouse showed me the email, my first thought was: "not again" and then " how sad" followed by "How can she defraud us", we will check but I think we are safe.
by Wildebeest
Fri Aug 23, 2019 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Ferdinand2014 wrote: Fri Aug 23, 2019 9:18 pm Dave Ramsey is excellent for getting out of debt and budgeting. Financial peace university and the total money makeover are excellent tools. His investment advice I am not a fan of. Giving a loan to a friend/family member/employee can create resentment and possibly ruin the relationship. If you choose to help it should be a gift if anything at all.
I agree.
I would prefer it to be a gift.
And make it clear that it is the last gift (I do not want to get another loan ( gift) request around Xmas).
by Wildebeest
Fri Aug 23, 2019 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

Re: How to help an employee who is in debt and requesting a loan

Vanguard Fan 1367 wrote: Fri Aug 23, 2019 9:14 pm That is a tough one. In one case an employee asked for a loan and I said that if that employee would resign I would give them the money. And I gave them more than the loan requested. We found a better employee without the financial and other drama.
Great advise, you set up good boundaries helping the individual and your business, unfortunately she will not be easy to replace and we already breached boundaries
by Wildebeest
Fri Aug 23, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: How to help an employee who is in debt and requesting a loan
Replies: 110
Views: 11163

How to help an employee who is in debt and requesting a loan

Question: What would you do? My spouse had got an email request to lend an employee $4000. She states she is desperate and has no way to pay for needed car repairs or get her young children ready for school. She promises to pay back $ 200 a month (no mention of interest, or collateral). The husband, with a good trade, does not appear to work much and their home situation sounds complicated although we do not know the details and do not want to pry. My spouse had given the employee a $1000 as a gift when her car was repossessed 6 months ago. Since then the employee had had a recurrent bout with cancer. (She missed almost no time for the chemo).She reports her eldest daughter was on her bank card and had overspent and my spouse had lent her $...
by Wildebeest
Sun Aug 04, 2019 6:37 am
Forum: Personal Consumer Issues
Topic: luxury vehicle: what income/asset range
Replies: 75
Views: 6610

Re: luxury vehicle: what income/asset range

Get a copy of "Stop Acting Rich and Act Like a Real Millionaire" by Thomas Stanley and read Chapter 7. Spoiler alert: "The Toyota make was found to be number one in market share among both engineers and millionaires in general... engineers are more than twice as likely to drive Toyotas as others in their wealth category." This is very overrated. People who buy cars they can afford while maintaining high savings rates are going to be wealthy, even if those cars are BMWs or Volvos or whatever. I have a 40% gross savings rate and am going to buy a luxury car soon. Correlation doesn't demonstrate causation. Just because the most common car brand among millionaires is a Toyota doesn't say anything predictive about an individ...
by Wildebeest
Sun Aug 04, 2019 6:06 am
Forum: Investing - Theory, News & General
Topic: "Bogleheads on Investing" episode 012 - guest Larry Swedroe, host Rick Ferri
Replies: 50
Views: 7857

Re: "Bogleheads on Investing" episode 012 - guest Larry Swedroe, host Rick Ferri

Very nicely done. Larry: you talked about cognitive tests. Recently dealing with some elderly relatives, I've found cognitive tests to be very blunt instruments. You can have terrible memory and judgement and still pass standard tests. They tend to ask things such as whether you are oriented (know who you are, where you are, today's date, some idea of major current events), can you draw a clock face, can you remember a few words for a few minutes and the like. Are your documents set up with something more sophisticated and, if so, what? I enjoyed the interview. My thanks to the both of you. I am also very curious as to what Larry suggests what cognitive testing is done. MMSE, Montreal Inventory congnitive testing. An Amyvid PET scan? How o...
by Wildebeest
Sun Aug 04, 2019 5:47 am
Forum: Personal Finance (Not Investing)
Topic: Annual review was disappointing, what should I do next?
Replies: 44
Views: 6692

Re: Annual review was disappointing, what should I do next?

- I thought the review wasn't fair. Go get another job offer with the title & salary that you want. That's how you prove definitively whether a review is or isn't fair. You're never going to get great advice from the internet in what is essentially a he said, she said situation where we only get your side of the story. Your manager has given you feedback. You can try to execute on it over the next 6 months, check-in and verify that you're on track for the recognition you want. Or you can decide their feedback is bad or inappropriate and look for a position outside the company. I agree with interviewing to see what your value is in the job market. Headhunters may help you with the interviewing process as how to deal with your insecuriti...
by Wildebeest
Sat Aug 03, 2019 8:53 pm
Forum: Investing - Theory, News & General
Topic: The birds and the bees. Why not bequests?
Replies: 9
Views: 2194

Re: The birds and the bees. Why not bequests?

NYT article about parents not talking about wealth and inheritance. I enjoyed the article. https://www.nytimes.com/2019/08/02/your-money/parenting-wealth-discussions.html I will discuss the article with my son. What did you enjoy about the article? Please tell us. I cannot read it. The article starts out that per Merrill Private Health management study of 650 families 2/3 of the families with a net worth over 3 million never talked to their children about their wealth and never will. However 67 % had quietly made gifts in a trust or set aside money in their children's name, buy a home or or supplement their income. The four reasons the parents avoid the talk: 1. "You think they are not watching: parents do not want the inheritance to ...
by Wildebeest
Sat Aug 03, 2019 9:01 am
Forum: Investing - Theory, News & General
Topic: The birds and the bees. Why not bequests?
Replies: 9
Views: 2194

The birds and the bees. Why not bequests?

NYT article about parents not talking about wealth and inheritance. I enjoyed the article.

https://www.nytimes.com/2019/08/02/your ... sions.html

I will discuss the article with my son.
by Wildebeest
Sat Jun 08, 2019 11:43 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: The Re-Death of Value, or Deja Vu All Over
Replies: 61
Views: 7861

Re: Larry Swedroe: The Re-Death of Value, or Deja Vu All Over

The ultimate benchmark is whether your portfolio is earning the real rate of return over the long term that is required in your financial plan and is doing so in a way that allows you stay the course . A second benchmark is whether the specific funds you use are tracking with their stated objectives over the long term. Judging a portfolio against a totally different portfolio is like judging an apple on the basis of whether or not it tastes like an orange. Agreed. What works for us is that I do not benchmark because we have only index funds and we do not rebalance anymore. So we check the accounts only at tax time. I guess I am a contrarian at heart and I enjoy reading how poorly the Value and the non US and Emerging market do now. So may ...
by Wildebeest
Fri Jun 07, 2019 8:52 pm
Forum: Personal Investments
Topic: Advice for son
Replies: 14
Views: 2385

Re: Advice for son

Did he ask for advice?

If not, my suggestion is to let him find his own way and he may surprise you and that this thread is done.

If he asks for advice I would give him a reading list. If he does not like to read another vote for Bill Berstein If you can: https://www.etf.com/docs/IfYouCan.pdf

My son asked me for career advice once . I gave it and he never asked me again.

Lesson learnt.
by Wildebeest
Sat May 11, 2019 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Continue working for benefit of adult children or retiring earlier?
Replies: 87
Views: 8288

Re: Continue working for benefit of adult children or retiring earlier?

My parents loved me very much (or at least that is how I perceived it), but I would not have wanted them to work one more day than they had to.

I plan to work for many more years, but that is because I enjoy it.

I can see that you want to continue to work to give to charity, but I can not see continue working to support your children unless you have special needs children.

However if you feel it helps your children, you should go for it.
by Wildebeest
Sat May 11, 2019 9:03 pm
Forum: Investing - Theory, News & General
Topic: Value investing got too popular for its own good?
Replies: 14
Views: 2172

Re: Value investing got too popular for its own good?

The next thirty years will tell us.

I am dialed in on SCV and small cap emerging markets and would buy small value emerging markets if I could and I am not changing course till I hit an iceberg.
by Wildebeest
Sat May 11, 2019 8:40 pm
Forum: Personal Consumer Issues
Topic: Dale Carnegie training
Replies: 23
Views: 3317

Re: Dale Carnegie training

I did it with my son when he was 17 and he is now 30. It was a great bonding experience. I learnt a lot. I learnt a lot from my son as well.

So all around it was a great experience.
by Wildebeest
Sat May 11, 2019 8:33 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Emerging Markets Need Time
Replies: 60
Views: 5976

Re: Larry Swedroe: Emerging Markets Need Time

Larry says: "Small-value needs time...commodities need time...reinsurance needs time...complex slice and dice portfolios requiring a 1% adviser fee need time..." You know what? Times up! Taylor is right. Use a three-fund portfolio and fuggedaboutit! Rick Ferri Rick, I know that you have never favored commodities. Somewhere, I have your book "All About Asset Allocation" where you do advocate for the Small-Value tilted portfolios. Memory gets foggy over the years but I did buy and read your book. Perhaps I need to pull it out and look again what you were saying then. Perhaps quote from it. I do notice that Bill Bernstein says good things about the 3 fund portfolio as you do now. But as I recall, the great Dr. Bernstein al...
by Wildebeest
Sat May 11, 2019 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Growing old without kids or younger caring relatives
Replies: 123
Views: 30787

Re: Growing old without kids or younger caring relatives

A copy of Atul Gawande's 'Being Mortal' is sitting on my bedside table and I have read and listened to it a few times. Also give it to students I teach. An wise old psychiatrist told me years ago when I was his student that the secret to happiness in old age was to have at least two daughters. Times have probably changed but it seemed like good advice at the time and I am lucky enough to have four children two of whom are of the fairer sex. His advice isn't particularly helpful for those with no children or with no children who are close of course. A large social circle and a caring community would likely be helpful. Some people find this in their local church and some in their community. I recently signed up for community odd jobs program...
by Wildebeest
Sat May 11, 2019 12:01 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Emerging Markets Need Time
Replies: 60
Views: 5976

Re: Larry Swedroe: Emerging Markets Need Time

unclescrooge wrote: Sat May 11, 2019 11:43 am
Wildebeest wrote: Sat May 11, 2019 11:24 am Great article ( my confirmation bias) and I especially like the Taleb quote.

I do not check the returns of DEMSX (DFA Emerging Market small cap fund). It is 25 % of our portfolio, no bonds. After 10 years it is still 25 %. I had expected a higher return so we have not been rewarded for the high risk yet. We'll stay the course for the next 25 years or longer ( if we are still alive).
Have you been rebalancing regularly? If so, that would explain why it's still at 25%. :mrgreen:
I have been rebalancing by pouring money into DEMSX. :D
by Wildebeest
Sat May 11, 2019 11:24 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Emerging Markets Need Time
Replies: 60
Views: 5976

Re: Larry Swedroe: Emerging Markets Need Time

Great article ( my confirmation bias) and I especially like the Taleb quote. I do not check the returns of DEMSX (DFA Emerging Market small cap fund). It is 25 % of our portfolio, no bonds. After 10 years it is still 25 %. I had expected a higher return so we have not been rewarded for the high risk yet. We'll stay the course for the next 25 years or longer ( if we are still alive). Summary of Larry Swedroe's article "Emerging markets are riskier than developed markets. As such, they should have higher expected returns. That includes the risk of weaker corporate governance. The fact that they did not outperform over the period examined by Rekenthaler should not have caused investors to abandon their belief that riskier assets should ha...
by Wildebeest
Sun May 05, 2019 11:12 am
Forum: Personal Consumer Issues
Topic: bare root trees - best place or website to purchase from?
Replies: 54
Views: 5869

Re: bare root trees - best place or website to purchase from?

YttriumNitrate wrote: Sun May 05, 2019 9:46 am The trees they sell are usually small (pencil diameter), but my favorite place for bare root non-fruit trees is my state nursery. At least for the Indiana state nursery, orders for the spring need to be put in before Thanksgiving if you want a decent selection. They sell trees in bundles of 100 or 50 (depending on the tree) and only charge about 30 cents a tree. It's far and away the best deal for trees I've found.

Another vote for checking with your state nursery.
by Wildebeest
Sun May 05, 2019 10:50 am
Forum: Non-US Investing
Topic: Downshift ("Barista FI") while consulting and raising kids? [Switzerland]
Replies: 102
Views: 14335

Re: Downshift ("Barista FI") while consulting and raising kids? [Switzerland]

Reading Eurobogle postings and the responses in the thread, I would support Eurobogle in his quest for Barista FI ( I had to google barosta FI and found this link: https://www.financialsamurai.com/what-is-barista-fire-a-hybrid-between-fat-fire-and-lean-fire/ . My take is that eurobogle has thought this through and if they run in a snag, he and his significant other can always revisit this. He appears to be in the driver's seat as to change course at will. We were at a social event last night and the youngest person was 60 and the oldest was in the mid seventies and most people had retired in their late 50's and were very happy and the majority of the ones who were still working were actively unhappy and counting the days till they could ret...
by Wildebeest
Tue Apr 23, 2019 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: If FIRECalc shows 100% success rate, what holds you back from retiring?
Replies: 126
Views: 15299

Re: If FIRECalc shows 100% success rate, what holds you back from retiring?

I like my work and I like to think I am good at it. I should be given that I worked really hard at it for the last 40 years. So maybe I am old and not as fast as I used to be but I have seen it all and am determined. I hope to work for many more years, fingers crossed. Reading "Being mortal" by Atul Gawande was a revelation. You peaked my curiosity. How were your eyes opened and how has it given you the desire to "work for many more years." I can see this book having the exact opposite effect. Being a physician I strongly appreciate Dr. Gawande's views. Once we became financially independent, I started to enjoy work more. I saw life as different phases and I hoped to stay emotionally engaged and keep learning to extend ...
by Wildebeest
Mon Apr 22, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: If FIRECalc shows 100% success rate, what holds you back from retiring?
Replies: 126
Views: 15299

Re: If FIRECalc shows 100% success rate, what holds you back from retiring?

I like my work and I like to think I am good at it. I should be given that I worked really hard at it for the last 40 years. So maybe I am old and not as fast as I used to be but I have seen it all and am determined.

I hope to work for many more years, fingers crossed. Reading "Being mortal" by Atul Gawande was a revelation.
by Wildebeest
Sun Apr 21, 2019 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Loan to employer?
Replies: 24
Views: 2228

Re: Loan to employer?

I’m the EVP of a small/mid size firm that specializes in rental and service of specialty bio-med devices to healthcare orgs. I’m an employee and have no equity or ownership stake in the company. My boss is the president and sole owner of our well established and profitable s-corp who while actively involved in the company has reduced her time commitment over the past years. In addition to the normal flow of profitable business we have 3 upcoming jobs that will require a larger than normal capital investment and will have longer than normal payback horizons. The company normally funds these types of investments out of current cash but this will stretch us thin for several months. As is typical, I alerted her to the potential cash flow needs...
by Wildebeest
Sat Apr 20, 2019 6:22 pm
Forum: Personal Consumer Issues
Topic: Get the best deal for your cruise: Whole Food, Plant Based
Replies: 14
Views: 3330

Re: Get the best deal for your cruise: Whole Food, Plant Based

The travel agent had gotten back to us. She stated that we could only be part of Vegan tour with all the speakers with CME/CEU etc if directly booked it on line and if we booked it through her we could do the cruise have Vegan food but we would not be able to attend the speaker programs etc.


So the best deal was $ 250 off before 4/24 booked on line.
by Wildebeest
Sat Apr 20, 2019 5:36 pm
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzle: Findings from a Recent Survey
Replies: 37
Views: 3746

Re: The Annuity Puzzle: Findings from a Recent Survey

I wonder if the Canadian study was skewed in the same fashion to the more educated and interested parties. I doubt it based on this observation from page 5: The prevalence of low retirement wealth: the study finds that a majority (61%) of the respondents have/expect relatively liquid retirement assets, with the phenomenon more pronounced for female respondents. Alarmingly, 10% have/expect less than $25,000 of liquid retirement assets and do not own their home or other properties, implying low living standards in retirement. Overall, 21% expect/have liquid retirement assets under $25,000, 40% under $100,000. In fact, it states that those with more education are more likely to value to annuities: Male, more educated and those with higher liq...