Search found 1863 matches

by BigJohn
Sun May 24, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you change passwords on your investment accounts?
Replies: 42
Views: 2660

Re: How often do you change passwords on your investment accounts?

I always manually enter numbers into turbotax. The convenience is not worth the potential security risk. The same thing when linking banks accounts to things, I always use micro deposits. Better safe than sorry. +1 I would never consider givingthe logon credentials for my large financial accounts t...
by BigJohn
Thu May 21, 2020 4:27 pm
Forum: Investing - Theory, News & General
Topic: Dr. Malkiel: “I believe that investors need to put more China into their portfolios“
Replies: 138
Views: 8855

Re: Dr. Malkiel: “I believe that investors need to put more China into their portfolios“

It is frustrating for me as well, since this was the first book I read on investing and I would truly enjoy implementing some of Dr. Malkiel’s advice since I have great respect for his work. However with each edition, the advice changes. It is quite maddening. The question is, as passive investors,...
by BigJohn
Thu May 21, 2020 4:06 pm
Forum: Personal Investments
Topic: Simplest way to gift shares at Vanguard
Replies: 22
Views: 1173

Re: Simplest way to gift shares at Vanguard

I regularly give cash donations to a non profit but I had considered instead giving shares instead since it seems I could divest some highly appreciated shares without incurring a large capital gain but the receiving non profit can sell without a capital gain tax. Do you know if the process is simi...
by BigJohn
Thu May 21, 2020 2:46 pm
Forum: Investing - Theory, News & General
Topic: Vanguard brokerage account transition
Replies: 212
Views: 20984

Re: Vanguard brokerage account transition

I take no joy in people’s angst over this but, since VG has made it clear that this is happening in the next few years, here’s a simple decision tree. What functionality does the brokerage platform not have that I want? We’ll call it A. Can I get A elsewhere? If no, then you're stuck wanting somethi...
by BigJohn
Thu May 21, 2020 10:08 am
Forum: Investing - Theory, News & General
Topic: Vanguard brokerage account transition
Replies: 212
Views: 20984

Re: Vanguard brokerage account transition

. I don't know what the "old platform" Vanguard account agreement said about the above issues (I converted to the new platform several years ago and didn't keep the agreements). So I don't know whether those issues exist in the old platform or not - but my hunch is they do. I'm not happy to agree t...
by BigJohn
Wed May 20, 2020 11:38 pm
Forum: Investing - Theory, News & General
Topic: Vanguard brokerage account transition
Replies: 212
Views: 20984

Re: Vanguard brokerage account transition

. However, there may be a class action lawsuit against Vanguard if they go down this path. Based on what? Did VG promise somewhere to provide the exact same service in perpetuity? I'm not saying it won't happen, people and lawyers get together with class action lawsuits on all sorts of marginal thi...
by BigJohn
Tue May 19, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Turning 65, Medicaire questions
Replies: 68
Views: 4137

Re: Turning 65, Medicaire questions

I turn 64 this year so just starting to read these discussions. If I understood correctly from another thread I have a significant worry about Medicare Advantage plans that is either pertinent here or can be debunked which will be useful as well. Since they are state regulated, MA plans are not tran...
by BigJohn
Tue May 19, 2020 11:24 am
Forum: Investing - Theory, News & General
Topic: Vanguard brokerage account transition
Replies: 212
Views: 20984

Re: Vanguard brokerage account transition

can you address staunchlydubious' issues (below). I had not even considered these reasons and am glad staunchlydubious posted them. I have seen no response to these in particular and think they deserve some responses other than merely poo-pooing those of us who have valid concerns. (1) I insist in ...
by BigJohn
Sun May 17, 2020 1:08 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Mutual Fund Platform EOL
Replies: 245
Views: 8626

Re: Vanguard Mutual Fund Platform EOL

I have a beneficiary on my joint taxable account. I’m not “upgrading” unless I am certain that the beneficiary will transfer to the new platform. I am very skeptical that will be the case. What’s the worry? As soon as the transfer is done, check it and all your other account maintenance settings li...
by BigJohn
Sun May 17, 2020 12:51 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Mutual Fund Platform EOL
Replies: 245
Views: 8626

Re: Vanguard Mutual Fund Platform EOL

I have a beneficiary on my joint taxable account. I’m not “upgrading” unless I am certain that the beneficiary will transfer to the new platform. I am very skeptical that will be the case. What’s the worry? As soon as the transfer is done, check it and all your other account maintenance settings li...
by BigJohn
Sun May 17, 2020 12:29 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Mutual Fund Platform EOL
Replies: 245
Views: 8626

Re: Vanguard Mutual Fund Platform EOL

My understanding for the brokerage account is that you can have dividends reinvested, sent to your settlement fund, or sent to your outside bank account. However, I don't have a brokerage account, so I may not be exactly correct. Not that last option. My mother lost her automatic path of dividends ...
by BigJohn
Thu May 14, 2020 4:40 pm
Forum: Personal Investments
Topic: Do you want to own the whole haystack [VTI] when someone has a blowtorch?
Replies: 125
Views: 9415

Re: Do you want to own the whole haystack [VTI] when someone has a blowtorch?

This guy hasn’t put down the blowtorch yet. People seem to be coming around that indexing isn’t smart right now. It’s rather painful. Indexes all in the red. Individual stocks that are covid compatible deflecting the pain keeping things in the positive. So, did you see this coming so you could buy ...
by BigJohn
Wed May 13, 2020 3:38 pm
Forum: Investing - Theory, News & General
Topic: Follow-up discussion on AA around one's retirement date
Replies: 58
Views: 2307

Re: Follow-up discussion on AA around one's retirement date

FWIW, I retired at 58 and believe that SOOR is one of the more significant risk to my retirement portfolio. As a result I went to 65% bonds at retirement. The jury is still out for me on a glide path to a higher stock allocation. I made the decision back then to hold there for 10 years and then reev...
by BigJohn
Sat May 09, 2020 10:26 am
Forum: Investing - Theory, News & General
Topic: 2007 to 2020: The changing advice of "A Random Walk Down Wall Street"
Replies: 41
Views: 5259

Re: The changing advice of "A Random Walk Down Wall Street" - 2007 to 2020

This is actually a bit disappointing to me. This book, likely the 07 or 12 version, was one of the readings that created my paradigm shift to simple index investing. I personally wouldn’t touch his current recommendations with a 10 foot pole, especially replace of safe bonds with riskier assets and ...
by BigJohn
Tue May 05, 2020 9:20 am
Forum: Personal Investments
Topic: Tell me what I don't know about retirement?
Replies: 55
Views: 4869

Re: Tell me what I don't know about retirement?

I’ll combine a couple of things from above into what I think is an important retirement planning issue. As you can tell, there are lots of complicated issues with a fair chance of having the rules change with some frequency. In addition, the fact is that even without something as significant as Alzh...
by BigJohn
Thu Apr 30, 2020 8:22 pm
Forum: Investing - Theory, News & General
Topic: The Bottom Line on Factor Investing
Replies: 290
Views: 12591

Re: The Bottom Line on Factor Investing

The aha moment was realizing that small caps, just like international is a way of diversifying my portfolio. Not quite the same in my mind. Overweighting small is a diversification from TSM only if it has some return generation mechanism different and independent from the rest of the market. This m...
by BigJohn
Wed Apr 29, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm Safe Driving App
Replies: 45
Views: 3120

Re: State Farm Safe Driving App

You couldn't "pay me" to let State Farm have access to my driving data. This is all about them managing risk and not about lowering my bill. +1 Just on principle, the less data about me that is available in these mega databases the better. I’ve taken care to setup location tracking on my phone to o...
by BigJohn
Wed Apr 29, 2020 4:52 pm
Forum: Investing - Theory, News & General
Topic: The Bottom Line on Factor Investing
Replies: 290
Views: 12591

Re: The Bottom Line on Factor Investing

The aha moment was realizing that small caps, just like international is a way of diversifying my portfolio. Not quite the same in my mind. Overweighting small is a diversification from TSM only if it has some return generation mechanism different and independent from the rest of the market. This m...
by BigJohn
Wed Apr 29, 2020 10:19 am
Forum: Personal Investments
Topic: Recent Retiree using rising equity glide path - only increase equity during crashes?
Replies: 41
Views: 2256

Re: Recent Retiree using rising equity glide path - only increase equity during crashes?

I started retirement 5 years ago at 35/65 to mitigate SORR. I’d make two comments for you to consider... I think 1.5% per year is too small a change to be worth fiddling with. It’s far lower than my rebalancing tolerance bands which are set at 5%. My plan is to hold here for 10 years and then reeva...
by BigJohn
Tue Apr 28, 2020 6:26 pm
Forum: Personal Investments
Topic: Recent Retiree using rising equity glide path - only increase equity during crashes?
Replies: 41
Views: 2256

Re: Recent Retiree using rising equity glide path - only increase equity during crashes?

I started retirement 5 years ago at 35/65 to mitigate SORR. I’d make two comments for you to consider... I think 1.5% per year is too small a change to be worth fiddling with. It’s far lower than my rebalancing tolerance bands which are set at 5%. My plan is to hold here for 10 years and then reeva...
by BigJohn
Tue Apr 28, 2020 1:40 pm
Forum: Personal Investments
Topic: Slightly overweighting small-caps?
Replies: 33
Views: 1309

Re: Slightly overweighting small-caps?

For me the issue with a small tilt is that it really doesn’t move the total portfolio return in a meaningful way even if it works as planned. If tracking error causes you to bail out of the tilt at the wrong time, it can be an real hurt far bigger than the theoretical help. Moving the total return n...
by BigJohn
Tue Apr 28, 2020 1:34 pm
Forum: Personal Investments
Topic: Recent Retiree using rising equity glide path - only increase equity during crashes?
Replies: 41
Views: 2256

Re: Recent Retiree using rising equity glide path - only increase equity during crashes?

I started retirement 5 years ago at 35/65 to mitigate SORR. I’d make two comments for you to consider... I think 1.5% per year is too small a change to be worth fiddling with. It’s far lower than my rebalancing tolerance bands which are set at 5%. My plan is to hold here for 10 years and then reeval...
by BigJohn
Sun Apr 26, 2020 11:46 am
Forum: Investing - Theory, News & General
Topic: The Bottom Line on Factor Investing
Replies: 290
Views: 12591

Re: The Bottom Line on Factor Investing

Not a factor investor. My two a-ha moments 1) Reading Bill Bernstein’s “Skating were the Puck Was” 2) Doing some simple math that showed a small tilt (ie 5-10%) even if true would not make a huge change in my total return. It takes a true believers to tilt at 4-5 times that amount and so I discovere...
by BigJohn
Sun Apr 26, 2020 11:34 am
Forum: Personal Investments
Topic: Is it time for us to get out?
Replies: 20
Views: 2541

Re: Is it time for us to get out?

I agree with comments above that at very high bond allocations, inflation risk becomes a bigger worry. As a result, I’d consider putting maybe half of your bond allocation in TIPS. For background, I used Bernstien’s approach to set my retirement AA at 35/65 about 5 years ago. Initially didn’t use TI...
by BigJohn
Sat Apr 25, 2020 9:35 am
Forum: Personal Investments
Topic: Help me find the weakness in this FIRE Portfolio
Replies: 94
Views: 4269

Re: Help me find the weakness in this FIRE Portfolio

Everything, Mega caps have pulled the weight of the gains for the last decade. Gold really??? Long term treasuries at 1.xx% really? Switch treasuries for total bond Switch gold for QQQ I almost feel like OP is trolling OP, do you see how much people here despise gold and long-term treasuries? These...
by BigJohn
Fri Apr 24, 2020 5:51 pm
Forum: Personal Investments
Topic: Can't turn off dividend reinvestment with Vanguard
Replies: 20
Views: 1425

Re: Can't turn off dividend reinvestment with Vanguard

I converted all my accounts to brokerage years ago, primarily driven by desire to be able to do Roth conversions online. There are a few differences that I miss but I’d call them all minor inconveniences, nothing major. It’s just become the new normal. The upgrades went without a hitch but I’d make ...
by BigJohn
Fri Apr 24, 2020 9:38 am
Forum: Personal Investments
Topic: Can't turn off dividend reinvestment with Vanguard
Replies: 20
Views: 1425

Re: Can't turn off dividend reinvestment with Vanguard

Is this the old style mutual fund account? If so, I suspect you need to already hold Fed MM in order to redirect dividends there. A newer brokerage account should already contain Fed MM with a zero balance as the settlement fund. If you’re getting this message with a brokerage account something seem...
by BigJohn
Thu Apr 23, 2020 11:43 am
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 807
Views: 51782

Re: First 20% of bonds in long-term Treasuries

I just barbell my EDV holdings with enough cash to see me through a bad year. Problem solved. Well, problem solved for me but I'm 29 with no dependents and private disability insurance to cover lost income if I'm unable to work for medical reasons. Some of the unexpected life events you mention can...
by BigJohn
Thu Apr 23, 2020 8:07 am
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 807
Views: 51782

Re: First 20% of bonds in long-term Treasuries

I'm missing the same thing. There is a high level of uncertainty for anyone to predict the exact time frame over which they'll need money and exactly how much money they'll need. All the nice arithmetic models and graphs given to support LTT alone assume that the investor knows this information wit...
by BigJohn
Sun Apr 12, 2020 12:14 am
Forum: Personal Investments
Topic: Follow Bernstein or Bogle
Replies: 99
Views: 7362

Re: Follow Bernstein or Bogle

Yes, between inflation indexed annuities being a theoretical rather than an actual possibility and current low interest rates the whole concept of the LMP becomes a theory rather than a practical tool. But that is a demonstration that we are never immune to the accidents of history. It is still tru...
by BigJohn
Fri Apr 10, 2020 10:17 am
Forum: Personal Investments
Topic: Follow Bernstein or Bogle
Replies: 99
Views: 7362

Re: Follow Bernstein or Bogle

How accurately would a TIPS fund address the LMP requirement. I agree with dbr that it’s not a perfect match to your liabilities. However, since those liabilities are just estimates, I personally think it’s “close enough”. While managing a ladder of TIPS isn’t all that difficult, I made a decision ...
by BigJohn
Fri Apr 10, 2020 10:09 am
Forum: Personal Investments
Topic: Portfolio Size Based Allocation Glidepath
Replies: 11
Views: 725

Re: Portfolio Size Based Allocation Glidepath

Similar to approach I’ve taken but I personally agree with comments above about being a bit more conservative. If you’ve “won the game” at 30+x, why keep play so aggressively at 60/40? I used an LMP type approach and set my AA at 35/65 when I started retirement 5 years ago. Sleeping like a baby thro...
by BigJohn
Fri Apr 10, 2020 10:03 am
Forum: Personal Investments
Topic: Your AA once you hit 7 figures
Replies: 34
Views: 2619

Re: Your AA once you hit 7 figures

DW and I follow Bernstein's "Life Cycle Investing" in his book, "Ages of the Investor". zero pension, annuities, etc. zero human capital, retired. So. . . .hybrid LMP/Permanent Portfolio. North of 25X. Drifts between 30/70 and 25/75 at this point. +1 Very similar to my approach. I went to 60/40 abo...
by BigJohn
Sat Apr 04, 2020 12:40 am
Forum: Personal Investments
Topic: For Retirees Without Pensions .... Fixed Portion?
Replies: 32
Views: 3206

Re: For Retirees Without Pensions .... Fixed Portion?

Retired five years ago at age 58. Having won the game at >25x, I used Bernstein’s LMP approach to set my AA at 35/65. For the fixed income component I keep 2-3 years expenses in short term high quality treasury bond fund. For the rest, I used Int Tax Exempt in my taxable account and a 50/50 mix of i...
by BigJohn
Fri Apr 03, 2020 12:46 pm
Forum: Personal Investments
Topic: Do you want to own the whole haystack [VTI] when someone has a blowtorch?
Replies: 125
Views: 9415

Re: Do you want to own the whole haystack when someone has a blowtorch?

Sure, there will be winners and losers but to profit from that you have to know more than the professionals who do this for a living. What do you think you know that they don’t? If nothing, then those possibilities are already priced in.
by BigJohn
Fri Mar 27, 2020 9:41 am
Forum: Investing - Theory, News & General
Topic: Why use percentage AA with significant assets?
Replies: 109
Views: 5270

Re: Why use percentage AA with significant assets?

I guess my approach is a bit of a hybrid. When I retired I set my AA based on Bernstein’s LMP idea of have 30 years (I retired at 58) of minimum expenses in safe assets. My primary motivation was minimizing sequence of return risk in the first 10 years (been retired 5 years). My plan is to leave the...
by BigJohn
Thu Mar 26, 2020 9:56 am
Forum: Personal Investments
Topic: Why not stand on the sidelines for a little while?
Replies: 302
Views: 14229

Re: Why not stand on the sidelines for a little while?

So the bond/equity relationship is at least temporarily broken (to the doxxer types who are digging up my past and posting about my switch from 3-fund to 100% equities, it's not looking super terrible at the moment right now, is it? Are you all rebalancing into down stocks with...down BND sales?) B...
by BigJohn
Thu Mar 26, 2020 9:23 am
Forum: Personal Investments
Topic: Bought Vanguard Total Stock market 2 weeks ago, now ready to sell, how do I do this?
Replies: 17
Views: 1440

Re: Bought Vanguard Total Stock market 2 weeks ago, now ready to sell, how do I do this?

Thanks folks. I understand now that if I sell within the next 12 months (is that correct) I will get hit with 15% capital gains (is this correct?) Also, if I sell on the short term, Vanguard could restrict me for a certain amount of time from purchasing Vanguard Total Stock Market again? Thanks- th...
by BigJohn
Mon Mar 23, 2020 11:32 am
Forum: Personal Investments
Topic: TLH inside a Trust; Pros and Cons?
Replies: 3
Views: 172

Re: TLH inside a Trust; Pros and Cons?

The trust is a separate EIN and tax return so no connection in wash sales between that and my taxable/IRA accounts.
by BigJohn
Mon Mar 23, 2020 10:36 am
Forum: Personal Investments
Topic: TLH inside a Trust; Pros and Cons?
Replies: 3
Views: 172

Re: TLH inside a Trust; Pros and Cons?

Bump.... anyone with experience or perspective?
by BigJohn
Sat Mar 21, 2020 9:57 am
Forum: Personal Investments
Topic: TLH inside a Trust; Pros and Cons?
Replies: 3
Views: 172

TLH inside a Trust; Pros and Cons?

I’m the trustee and income beneficiary for my wife’s testamentary trust. Capital gains stay in the trust for our kids who are the principle beneficiaries. Given trust tax rates, I have focused on ensuring that capital gains are kept to near zero. Over the past few years I’ve done a bit of TLH in ord...
by BigJohn
Sat Mar 21, 2020 8:15 am
Forum: Personal Investments
Topic: Post TLH: What to do?
Replies: 7
Views: 628

Re: Post TLH: What to do?

Exactly how I’ve cleaned up my portfolio over the last few years. As long as you move straight to total stock your AA is unchanged, your risk is lower and you’ve avoided LTCG tax hit. Enjoy the lemonade!
by BigJohn
Fri Mar 20, 2020 10:01 am
Forum: Personal Investments
Topic: Anyone (now) regret choosing a lump sum vs. annuity option?
Replies: 16
Views: 1255

Re: Anyone (now) regret choosing a lump sum vs. annuity option?

Took a lump sum when I retired 5 years ago. Having won the game, I used Bill Bernstein's LMP approach and invested at an AA of 35/65. Still sleeping well at night, sold bonds and bought stocks to rebalance back to that target last week, no regrets here :beer
by BigJohn
Wed Mar 18, 2020 11:52 am
Forum: Investing - Theory, News & General
Topic: thank you Bill Bernstein: "If You've Won the Game, Stop Playing"
Replies: 51
Views: 6672

Re: thank you Bill Bernstein: "If You've Won the Game, Stop Playing"

Bill’s life cycle investing and LMP approach were keys to designing my retirement portfolio. Not only am I still sleeping well at night, I bought stock to rebalance back to my target AA last week.

Thanks Bill :sharebeer
by BigJohn
Wed Mar 18, 2020 11:03 am
Forum: Personal Investments
Topic: Cost basis during Roth conversion
Replies: 31
Views: 1809

Re: Cost basis during Roth conversion

OP, Strange — have a meeting with them today and will review. I have done about 20 Conversions over the last few years and have Always Gotten the end of day price. The conversion has NEVER happened while the market was open, only overnight. WoodSpinner Where you converting MF shares? That's what I ...
by BigJohn
Tue Mar 17, 2020 6:53 pm
Forum: Personal Investments
Topic: Tax loss harvesting - Chevron for Exxon
Replies: 5
Views: 355

Re: Tax loss harvesting - Chevron for Exxon

Use it as an opportunity to become more “bogley”. Sell Chevron and buy total stock. Why exchange one individual stock risk for another or for a sector bet?
by BigJohn
Tue Mar 17, 2020 6:49 pm
Forum: Personal Investments
Topic: Is my refusal to address rebalancing right now irresponsible/unbogle? Or can it be justified?
Replies: 19
Views: 1498

Re: Is my refusal to address rebalancing right now irresponsible/unbogle? Or can it be justified?

Certainly not irresponsible and there are lots of people on this forum doing exactly what you’re doing. Execution complexity aside, I think it’s an indication that your target AA was too aggressive. Wait for this to stabilize a bit, give it some thought and then decide at what AA would you have bee ...
by BigJohn
Mon Mar 16, 2020 6:50 pm
Forum: Personal Investments
Topic: The case for managed vs passive index equity funds now?
Replies: 10
Views: 746

Re: The case for managed vs passive index equity funds now?

The problem with your friends point is that the manager has to have the secret sauce to know which sectors are worst/best in advance. Some will get it right and some won’t, you will not know which you bought until it’s too late to change. What is certain whether they win or lose is that you will pay...
by BigJohn
Sun Mar 15, 2020 7:18 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing into stocks when they fall is unrealistic
Replies: 126
Views: 10577

Re: Rebalancing into stocks when they fall is unrealistic

Two way rebalancing may not be your cup of tea but not sure I’d call it unrealistic. I went into retirement five years ago with an AA of 35/65. I did this to mitigate sequence of return risk. The 65 was based on an LMP type approach (liability matching portfolio) and it has allowed me to sleep well ...