Search found 68 matches

by rfowler
Tue May 19, 2020 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

Never understood why people want to control adult children from the grave. Set it up right from a tax perspective and give them control on day one. wfrobinette, thanks for sharing your perspective. We don't look at this estate planning as trying to "control" adult children from the grave....
by rfowler
Tue May 19, 2020 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

Having recently turned 30 with a good bit of parent and grandparent help over the years, I have certainly benefitted from the financial security it provided. The most beneficial things however were the conversations and the knowledge that was provided. I learned so much from my parents being an ope...
by rfowler
Tue May 19, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

The 3 rights/powers that you can give them are (i) the right to become a trustee, (ii) the power to remove and replace their co-trustee (provided the replacement trustee isn't a close relative or subordinate employee, and (iii) the power to appoint (give or leave) the trust assets to anyone they wa...
by rfowler
Mon May 18, 2020 12:28 am
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

To answer your question re where the assets are, mostly in non-retirement accounts. Due to the SECURE Act and loss of the stretch-IRA we are evaluating how we might use the IRA/retirement accounts for charitable giving. If charitable giving is a desired part of your legacy, you may wish to look int...
by rfowler
Sun May 17, 2020 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

AOC was sworn into the US Congress at 29 and Ron DeSantis became a governor at 40. Imagine they were beneficiaries of trusts. From one perspective, it would be strange you can run and be responsible for an entire state at age 40, but have to justify your new car purchase to a corporate trustee. By ...
by rfowler
Sun May 17, 2020 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

The 3 rights/powers that you can give them are (i) the right to become a trustee, (ii) the power to remove and replace their co-trustee (provided the replacement trustee isn't a close relative or subordinate employee, and (iii) the power to appoint (give or leave) the trust assets to anyone they wa...
by rfowler
Sun May 17, 2020 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

As you've described your children, I would consider allowing them to immediately serve as co-Trustee and perhaps sole Trustee at age 35. Just a thought, but we don't know your kids like you do. Also, are a significant portion of the assets in qualified retirement accounts? (IRA, 401k, etc.) If so, ...
by rfowler
Sat May 16, 2020 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Re: Testamentary Trust: What age to become co-Trustee, then Trustee

The 3 rights/powers that you can give them are (i) the right to become a trustee, (ii) the power to remove and replace their co-trustee (provided the replacement trustee isn't a close relative or subordinate employee, and (iii) the power to appoint (give or leave) the trust assets to anyone they wa...
by rfowler
Fri May 15, 2020 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Testamentary Trust: What age to become co-Trustee, then Trustee
Replies: 44
Views: 2029

Testamentary Trust: What age to become co-Trustee, then Trustee

In light of current pandemic, we are revisiting our estate planning and specifically our Trust plans. I would appreciate input from individuals who have set up Irrevocable (Testamentary) Trust(s) for their heirs and how you have structured the distribution (or transition to Trustee). I believe I've ...
by rfowler
Mon Jun 11, 2018 12:48 am
Forum: Personal Consumer Issues
Topic: “Day to kill” in Venice Italy
Replies: 51
Views: 4622

Re: “Day to kill” in Venice Italy

Despite the tourists, Venice is ..... spectacular. Look at is as city-museum. I second the suggestion to visit Peggy Guggenheim house (now a "museum") for your extra day and introduction to Venice. The house was her personal residence so it's human sized, right on the canal, and contains s...
by rfowler
Sun Jan 07, 2018 2:22 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Patience And Diversification Crucial
Replies: 52
Views: 9940

Re: Larry Swedroe: Patience And Diversification Crucial

Hello all, Very interesting article by Swedroe -- thanks for posting. I would appreciate comments on Swedroe's concluding lines in the article -- I am scratching my head a bit: "Thus, the prudent strategy (the one most likely to allow you to achieve your goals) is to diversify across various fa...
by rfowler
Thu May 04, 2017 2:00 am
Forum: Personal Finance (Not Investing)
Topic: Buying a luxury car (how dumb would it be to do this?)
Replies: 216
Views: 29632

Re: Buying a luxury car (how dumb would it be to do this?)

I recommend you buy two Certified pre-owned vehicles. We are on our second HIghlander and second Mercedes E-series---both purchased as 2-yr old Certified Pre-Owned cars (lease returns), as were the previous ones. Our family has always enjoyed owning the practical family hauler AND the fun/luxury veh...
by rfowler
Sat Apr 29, 2017 1:49 am
Forum: Investing - Theory, News & General
Topic: The Importance of “Cash on Hand” to Life Satisfaction
Replies: 29
Views: 5588

Re: The Importance of “Cash on Hand” to Life Satisfaction

Michael Kitces, a fee-only financial planner who has a popular FP blog and newsletter, Nerd's Eye View, had a good post about this study: https://www.kitces.com/blog/buying-happiness-life-satisfaction-wellbeing-with-cash-on-hand-reserves-ruberton-gladstone-lyubomirsky/#disqus_thread I have been read...
by rfowler
Thu Apr 27, 2017 1:27 am
Forum: Personal Finance (Not Investing)
Topic: Best strategy for retaining tenants?
Replies: 30
Views: 2789

Re: Best strategy for retaining tenants?

Excellent tenants who are paying close to market rents, on time, AND whose rent could possibly cover a mortgage will eventually be buyers. It's good to keep them for another year or two before they make that transition. Could you have made an additional $50/month by raising their rent? Possibly. But...
by rfowler
Mon Apr 24, 2017 3:31 am
Forum: Personal Consumer Issues
Topic: Alaska cruise advice
Replies: 33
Views: 4655

Re: Alaska cruise advice

We live in Puget Sound and did a last minute Alaska Cruise on Celebrity (Silhouette) from Seattle last June. We booked through Costco Travel including 3 of the excursions. The benefit of using Costco travel is you get onboard credit which you don't have to use and will be credited back to your credi...
by rfowler
Wed Apr 19, 2017 11:25 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 445
Views: 70206

Re: Larry Swedroe says "Goodby."

I too have greatly appreciated Larry's comments, particularly recently as I've been learning more about the "Larry Portfolio" concept and its variants. And I completely understand that he would want to step away from a forum where he felt personally attacked. While this forum is for the mo...
by rfowler
Mon Apr 17, 2017 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 227
Views: 30897

Re: Trust Services

riggoodma, I am so glad you posted your questions -- they are the exact ones I came up with, also from just finishing "Beyond the Grave." We too had set up a revocable trust and thought we had everything squared away with a family member serving as trustee for our young adult children, all...
by rfowler
Sun Apr 16, 2017 2:34 am
Forum: Personal Consumer Issues
Topic: Anyone else decided not to finish med school?
Replies: 76
Views: 28422

Re: Anyone else decided not to finish med school?

If your friend is regretting his decision, it may be a good idea to work with a life/career coach who specializes in physicians, and reevaluate. Based on personal experience on this topic of physician dissatisfaction and career detours ("friends and family"),it's important to understand th...
by rfowler
Thu Mar 30, 2017 10:25 pm
Forum: Personal Investments
Topic: What if capital gains net tax = zero, how would you structure taxable portfolio?
Replies: 6
Views: 880

Re: What if capital gains net tax = zero, how would you structure taxable portfolio?

All, thank you for the quick responses and weighing in. Regarding 2), legacy-wise there's less advantage from donating appreciated securities, and from step-up in basis, so you might prioritize using your tax-deferred accounts for charity. Designate charities as beneficiaries, and use qualified char...
by rfowler
Thu Mar 30, 2017 2:46 am
Forum: Personal Finance (Not Investing)
Topic: Wife wants to get into real-estate
Replies: 29
Views: 6330

Re: Wife wants to get into real-estate

A couple thoughts, coming from the RE investment business: 1) If neither of you have had experience with investing to rent or investing to flip, getting a RE license as a "tax" move would not be the first step I would recommend. Instead, figure out which of those options appeals to you: Ge...
by rfowler
Thu Mar 30, 2017 2:01 am
Forum: Personal Investments
Topic: What if capital gains net tax = zero, how would you structure taxable portfolio?
Replies: 6
Views: 880

What if capital gains net tax = zero, how would you structure taxable portfolio?

All, I have posed our situation to a fee-only financial advisor and was not entirely satisfied with the answer (absence of rigor). Would appreciate bogle-brain power on this one: We have a significant capital loss carry forward (from real-estate related capital loss, a REAL out-of-the-wallet loss, n...
by rfowler
Sat Feb 25, 2017 9:47 pm
Forum: Personal Consumer Issues
Topic: critique Italian itinerary
Replies: 34
Views: 3592

Re: critique Italian itinerary

Italy is such a wonderful country, it's hard to go wrong. Venice is indeed a must, and I would highly recommend 3-4 full days. Visiting Venice during the off season will allow you to fully explore this fascinating "living museum" at your leisure without throngs of tourists. We were there i...
by rfowler
Sat May 28, 2016 11:36 pm
Forum: Personal Investments
Topic: Physician Leadership Courses--Worth it? Is it feasible?
Replies: 3
Views: 879

Re: Physician Leadership Courses--Worth it? Is it feasible?

Having family members in the field, this topic comes up...
Here is the best resource to answer your questions and explore training, career path etc:
http://www.physicianleaders.org/
by rfowler
Tue Feb 16, 2016 3:43 am
Forum: Personal Finance (Not Investing)
Topic: How to save money and keep the house clean?
Replies: 48
Views: 8144

Re: How to save money and keep the house clean?

My spouse and I learned very early in our marriage that certain household services were worth it, and for two reasons: 1) the obvious one -- harmony -- we are busy professionals and our limited after-work hours were best spent together, with friends or on hobbies and recreation. 2) money you pay a h...
by rfowler
Tue Feb 02, 2016 8:32 pm
Forum: Personal Consumer Issues
Topic: Which news source do you use?
Replies: 67
Views: 8140

Re: Which news source do you use?

1) NY Times Sunday print version with online version daily. Good articles in general, with occasional outstanding in-depth stories 2) Local newspaper print version daily - 1/3 is "old news" we got online already but do enjoy local stories and and want to support the local press 3) On Flipb...
by rfowler
Mon Jan 18, 2016 4:59 pm
Forum: Personal Investments
Topic: Failing "sleep well" test: Change AA or more Boglehead-therapy?
Replies: 63
Views: 7130

Re: Failing "sleep well" test: Change AA or more Boglehead-therapy?

All, Again, this is very helpful and I do appreciate the various insights (that's why I consulted you!) No doubt this is 70% psychological and 30% "technical allocation" -- both of which are important. I'm not ashamed to be completely transparent about my anxiety and other foibles (life is...
by rfowler
Mon Jan 18, 2016 6:08 am
Forum: Personal Investments
Topic: Failing "sleep well" test: Change AA or more Boglehead-therapy?
Replies: 63
Views: 7130

Re: Failing "sleep well" test: Change AA or more Boglehead-therapy?

All,
Thanks again for the additional comments. I appreciate the insights -- good food for thought.
by rfowler
Sun Jan 17, 2016 8:47 pm
Forum: Personal Investments
Topic: Failing "sleep well" test: Change AA or more Boglehead-therapy?
Replies: 63
Views: 7130

Re: Failing "sleep well" test: Change AA or more Boglehead-therapy?

Thanks, john94549,
We have started the 5-year CD ladder with 250K. I'll read up more on that and TIPS ladders (although CD ladders seem easier)
by rfowler
Sun Jan 17, 2016 7:28 pm
Forum: Personal Investments
Topic: Failing "sleep well" test: Change AA or more Boglehead-therapy?
Replies: 63
Views: 7130

Re: Failing "sleep well" test: Change AA or more Boglehead-therapy?

Dr. Bogleheads, Thanks for the words of calm (I needed a slap in the face AND half a Valium). You're right, $100K down is not bad. What hurts and alarms me is the fact that this literally came out of my pocket 4 months ago. Klangfool and edge, I have been indeed been looking into a low cost advisory...
by rfowler
Sun Jan 17, 2016 4:46 pm
Forum: Personal Investments
Topic: Failing "sleep well" test: Change AA or more Boglehead-therapy?
Replies: 63
Views: 7130

Failing "sleep well" test: Change AA or more Boglehead-therapy?

I would appreciate input from those of you who are IN or NEAR RETIREMENT and using their portfolio for part or most of their income. Sorry to exclude young accumulators but I want "in the trenches," "been there" insights from those in my shoes. I'll lie down on the therapist's co...
by rfowler
Sat Jan 16, 2016 12:08 am
Forum: Personal Finance (Not Investing)
Topic: purchase REO property advice [Real Estate Owned]
Replies: 3
Views: 552

Re: purchase REO property advice [Real Estate Owned]

If you had a title company perform a title search to clear title, that should have been uncovered. If not, there is something amiss and either the bank or title company are at fault for not disclosing. If you did not have title search (and contingency) and If the bank did not state the title was cle...
by rfowler
Fri Jan 15, 2016 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: Tell me about Expected Family Contribution for college
Replies: 65
Views: 8400

Re: Tell me about Expected Family Contribution for college

Gee, this is a lot of math for what I thought might be simple advice for the OP. :D Our second child will graduate college in June. From our experience in the real world of raising children, I would advice keeping things simple. Here are some thoughts. (Please no need for anyone to reply with comple...
by rfowler
Fri Jan 08, 2016 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Job Prospects for English Majors?
Replies: 73
Views: 11723

Re: Job Prospects for English Majors?

We have been in a similar career -counseling mode with our daughter who is a History major (Liberal arts). Initially we pleaded with her to get a business degree as she is truly a natural born salesperson and manager. Although she followed her heart to be a history major, we are confident her commun...
by rfowler
Wed Dec 30, 2015 12:07 am
Forum: Personal Finance (Not Investing)
Topic: Can I still contribute to my SEP-IRA?
Replies: 7
Views: 809

Re: Can I still contribute to my SEP-IRA?

I have had similar situation for 5 years. For many years I've had my solo business (corporation) and contributed to my SEP-IRA to the max. Forr 2015 the limits are up to $53K (i.e. when you combine the "employer" portion along with the "employee" and factor in the catch up for be...
by rfowler
Mon Nov 30, 2015 3:20 am
Forum: Personal Investments
Topic: Merrill to Betterment - does this sound like the right strategy?
Replies: 43
Views: 4583

Re: Merrill to Betterment - does this sound like the right strategy?

Agree with the other posters regarding taking your time to transition your investment to a more transparent, lower-expense set of index funds/ETFs. A key consideration will be timing your capital gains (or losses), given your investment is in taxable (presumably from your post). Regarding Betterment...
by rfowler
Sat Nov 28, 2015 3:17 pm
Forum: Investing - Theory, News & General
Topic: Is Real Estate Bond-Like?
Replies: 40
Views: 5256

Re: Is Real Estate Bond-Like?

We also have income-producing home rentals (plus other commercial real estate) and I posted a similar on this forum (and have also posed the question to two fee-only financial advisors). This is how I framed the question for myself: How should we factor our real estate holdings and income into our d...
by rfowler
Sun Oct 11, 2015 4:20 pm
Forum: Personal Consumer Issues
Topic: Planning a trip to Rome, need advice
Replies: 49
Views: 5537

Re: Planning a trip to Rome, need advice

All of the advise above is good and I would add that your "age' , energy and comfort with with being in a large city, a foreign country will all be factors in your enjoyment of beautiful, wonderful Italia. I will add to what has been provided already: 1) Having traveled to Italy about 5 times f...
by rfowler
Tue Oct 06, 2015 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about purchasing "retirement" annuity/fund for non-family member in lieu of small inheritanted sum later
Replies: 7
Views: 704

Re: Thinking about purchasing "retirement" annuity/fund for non-family member in lieu of small inheritanted sum later

Taylor, I'm fascinated by your decision to "give the inheritance now." And curious as to how you made the "wealth transfer" without major tax implications. Maybe within the Trust? Also curious about how your children are managing it. Currently we are fully funding our children's ...
by rfowler
Tue Oct 06, 2015 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about purchasing "retirement" annuity/fund for non-family member in lieu of small inheritanted sum later
Replies: 7
Views: 704

Re: Thinking about purchasing "retirement" annuity/fund for non-family member in lieu of small inheritanted sum later

Thanks for your comment, Gil. Yes I will play around with the annuity length, payout etc.

One clarification: She has left our employ---about 7 years ago.
But she was and remains important to us and therefore we very comfortable with the "irrevocable" nature of the gift.
by rfowler
Tue Oct 06, 2015 2:36 pm
Forum: Personal Consumer Issues
Topic: Where in the U.S. can I buy a house for under $250k that's a nice place to live?
Replies: 152
Views: 20578

Re: Where in the U.S. can I buy a house for under $250k that's a nice place to live?

I recommend you look into New Mexico, either the Albuquerque area or Las Cruces. Albuquerque: You can definitely can find a very nice newer home for $250K or less (Pulte building all over ABQ) and in fact still some excellent SS and REO popping up for less than 200K (less than 10 years old in good n...
by rfowler
Tue Oct 06, 2015 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about purchasing "retirement" annuity/fund for non-family member in lieu of small inheritanted sum later
Replies: 7
Views: 704

Thinking about purchasing "retirement" annuity/fund for non-family member in lieu of small inheritanted sum later

Hello bogleheads, I would appreciate input from the Forum on ideas we're currently pondering as we do our estate planning. In addition to planning for inheritance for adult children and charitable giving, we are also identifying individuals that have been important to our family. One such person is ...
by rfowler
Thu Sep 03, 2015 5:12 pm
Forum: Personal Investments
Topic: Advise wanted: investing small trust for disabled relative
Replies: 4
Views: 647

Re: Advise wanted: investing small trust for disabled relative

Thank you all for your thoughts. I will look into a SPIA. Re: The trust is about ~200 and you want it to last 5 years? What is your thinking if the disabled relative lives longer? Move to a State funded facility? Also, why is the first year 16,000 and the later buckets more? What do you need in year...
by rfowler
Thu Sep 03, 2015 1:59 am
Forum: Personal Investments
Topic: Advise wanted: investing small trust for disabled relative
Replies: 4
Views: 647

Advise wanted: investing small trust for disabled relative

Hello all, I'm hoping you can provide some thoughts on a unique situation in our family. My father-in-law passed last year leaving a small Trust (~200K) for the benefit of his 62 y.o. disabled daughter--she is not a beneficiary of his estate, but rather the Trust is to continue providing some assist...
by rfowler
Sat Feb 14, 2015 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance?
Replies: 58
Views: 8113

Re: Long term care insurance?

To add another 2cents: My spouse and I lost our fathers (age 89, 90) in the past year, 7 months of each other so our families have had quality time to reflect on our mortality and the nuances of end-of-life planning. Both of our fathers had LTCi which covered them for up to a year of LTC and both we...
by rfowler
Mon Aug 18, 2014 1:34 am
Forum: Personal Investments
Topic: Spouse not ready to cut ties with financial advisers
Replies: 112
Views: 13658

Re: Spouse not ready to cut ties with financial advisers

I discussed most of the points in this thread with DH this morning. His overriding concern is that we will make a mistake and it will cost us a lot more than 1%. He said that everyone he knows who has ever chosen to manage their own funds has lost money in the stock market. I tried to explain index...
by rfowler
Fri Aug 01, 2014 4:45 am
Forum: Personal Consumer Issues
Topic: Public Speaking-help
Replies: 79
Views: 8879

Re: Public Speaking-help

tempco_rep, First, thanks for sharing your story--- as you can read, there are many, many people for whom it resonates. My story was similar. I considered myself socially "handicapped" due to my paralyzing fear of speaking and of being "called on." At around age 40 I spoke up in ...
by rfowler
Thu Jul 31, 2014 5:49 pm
Forum: Personal Investments
Topic: Help me save my parents from Merrill Lynch
Replies: 54
Views: 9532

Re: Help me save my parents from Merrill Lynch

When 401ks were first came about I and others warned that thieves and charlatans would try to con the ordinary folks that they needed high priced "expert" advice. I wrote memos about it to warn my colleagues that sharks smelled blood and wanted their share. Professor E, Therein is the rub...
by rfowler
Thu Jul 31, 2014 1:51 pm
Forum: Personal Investments
Topic: Help me save my parents from Merrill Lynch
Replies: 54
Views: 9532

Re: Help me save my parents from Merrill Lynch

Professor E, It's important to separate an academic argument for low-cost index-investing (which I agree with) from the real lives of people who don't have the temperament or time to devote to reading the literature or managing their investments. I'll give you another family example: one of my sibli...
by rfowler
Thu Jul 31, 2014 2:14 am
Forum: Personal Investments
Topic: Help me save my parents from Merrill Lynch
Replies: 54
Views: 9532

Re: Help me save my parents from Merrill Lynch

My father asked my sister to help him consolidate with a bank financial advisor about seven years before he passed. (2007 to 2013) He had been a self-guided mutual fund investor since the 70's, so I wondered at the time why he felt he needed an outside advisor. She found an advisor with his local US...
by rfowler
Thu Jul 31, 2014 1:15 am
Forum: Investing - Theory, News & General
Topic: Should retirement investors own small/value stocks at all?
Replies: 36
Views: 4002

Re: Should retirement investors own small/value stocks at al

a big mistake made by many investors is to think of returns "deterministically" ==I'm going to get x%, only right way to think about them is as the expected is the mean of wide dispersion of potential outcomes. the tails are the extreme good and bad outcomes in the distribution of what ca...