Search found 23349 matches

by dbr
Mon Oct 23, 2017 8:58 pm
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 95
Views: 2834

Re: Commission only fiduciary planner

A comment as far as fees is that the term is not defined. It is common that loads, expense ratios, and even a 12b-1 fee in the ER are not called fees and one can say there are no fees even in the presence of those costs. Commissions and trading charges are also not fees. It is even true that costs ...
by dbr
Mon Oct 23, 2017 5:38 pm
Forum: Investing - Theory, News & General
Topic: Building very high net worth
Replies: 41
Views: 3237

Re: Building very high net worth

One thought is that inevitably extreme results must also involve risk. Different words to describe that are that the prospects for achieving very high net worth are also very uncertain. It is possibly true that you have to engage in some sort of business or entrepreneurial activity to get there, but...
by dbr
Mon Oct 23, 2017 4:03 pm
Forum: Investing - Help with Personal Investments
Topic: Periodically Given Company Shares
Replies: 8
Views: 348

Re: Periodically Given Company Shares

Without a doubt sell them as soon as you get them. They are just extra salary and should be treated as such.
by dbr
Mon Oct 23, 2017 4:01 pm
Forum: Investing - Theory, News & General
Topic: Avoiding the Spiral
Replies: 15
Views: 1504

Re: Avoiding the Spiral

You can also impose the rebalancing rule that you don't rebalance into stocks. That logically blocks the spiral. It is probably similar in actual effect to having a smaller stock allocation to start with. In practice I think it is really, really unlikely for the market to produce actual death from t...
by dbr
Mon Oct 23, 2017 9:32 am
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 46
Views: 2386

Re: Is it ok to have 100% stocks, 15 years+

So, I think it is the combination of the bull market in stocks and the bear market in bonds that is causing people to abandon bonds. I believe there is a great deal of truth in that. We will all be waiting for the conversations here when the next serious downturn in stocks occurs. My opinion is tha...
by dbr
Mon Oct 23, 2017 9:28 am
Forum: Investing - Theory, News & General
Topic: Splitting AA across account types
Replies: 5
Views: 393

Re: Splitting AA across account types

If income and deductions can be managed and if tax laws can change, it's better to consider tax obligations an annual expense. Costs of food, shelter, medical care, etc are more akin to the cost of taxes. IMHO one shouldn't consider these other things a debit against wealth either. Agree. There hav...
by dbr
Mon Oct 23, 2017 9:25 am
Forum: Investing - Theory, News & General
Topic: using vanguard to manage assets
Replies: 10
Views: 892

Re: using vanguard to manage assets

I would also ask what it is that you want done that suggests to you putting your assets under PAS. They may or may not be a good solution for you. From what you wrote is it that you want to get your hands on some good projections or is it that you want someone to devise a smarter investment strategy...
by dbr
Mon Oct 23, 2017 9:19 am
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 46
Views: 2386

Re: Is it ok to have 100% stocks, 15 years+

McGilicutty wrote:
Mon Oct 23, 2017 9:17 am

So, I think it is the combination of the bull market in stocks and the bear market in bonds that is causing people to abandon bonds.
I believe there is a great deal of truth in that. We will all be waiting for the conversations here when the next serious downturn in stocks occurs.
by dbr
Mon Oct 23, 2017 9:09 am
Forum: Investing - Help with Personal Investments
Topic: 100% equity allocations v.s equity-bond allocations
Replies: 20
Views: 1326

Re: 100% equity allocations v.s equity-bond allocations

Go to www.firecalc.com and enter a scenario with not retired yet, no withdrawals, some starting portfolio, some rate of new contributions, and some choice of portfolio assets. Run the model for 30 or 40 years and observe the chart that shows a hundred or so different outcomes that might occur to a p...
by dbr
Mon Oct 23, 2017 9:05 am
Forum: Investing - Help with Personal Investments
Topic: Is it ok to have 100% stocks, 15 years+
Replies: 46
Views: 2386

Re: Is it ok to have 100% stocks, 15 years+

Of course it is ok. But ok means you understand the possible consequences of whatever asset allocation you choose and are prepared to accept those consequences. It is helpful to address how much risk you need to take, how much risk you are able to take, and how much risk you can stand taking. I beli...
by dbr
Mon Oct 23, 2017 8:59 am
Forum: Investing - Theory, News & General
Topic: J. Clements: Jack's Comments at 2017 Bogleheads Conference
Replies: 18
Views: 2488

Re: J. Clements: Jack's Comments at 2017 Bogleheads Conference

“I spend half my time worrying about why I have so much in stocks and half my time worrying about why I have so little.” Jack says his portfolio is split evenly between stocks and bonds. Well, now I know I have one thing in common with Jack Bogle ;) That's weird. I don't spend any time worrying abo...
by dbr
Mon Oct 23, 2017 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Helping college costs of grandchildren
Replies: 37
Views: 2073

Re: Helping college costs of grandchildren

Is there a particular reason to worry that helping with college costs for the grandchildren but not otherwise giving anyone any money would not be fair? I myself would see doing that as perfectly fair but I can understand why someone might take a different view and be of the opinion that each of th...
by dbr
Mon Oct 23, 2017 8:53 am
Forum: Investing - Theory, News & General
Topic: Long term viability of Real Estate as an asset class
Replies: 29
Views: 1870

Re: Long term viability of Real Estate as an asset class

REITs are not 'investing in real estate'. You have zero control over your investment (just like with stocks or mutual funds). Good real eatate investors make money in a up, down, and sideways market, using both passive and active approaches in real estate. REITs are investing in paper, not real est...
by dbr
Mon Oct 23, 2017 8:45 am
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 95
Views: 2834

Re: Commission only fiduciary planner

A comment as far as fees is that the term is not defined. It is common that loads, expense ratios, and even a 12b-1 fee in the ER are not called fees and one can say there are no fees even in the presence of those costs. Commissions and trading charges are also not fees. It is even true that costs i...
by dbr
Mon Oct 23, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Helping college costs of grandchildren
Replies: 37
Views: 2073

Re: Helping college costs of grandchildren

I guess I would consider the gift to be for the grandkids not the kids. Not sure why the kids that are childless would expect money to pay for their own children's' education when they don't have kids. Most of the replies here probably line up with the above, and I agree in general. However, the ar...
by dbr
Sun Oct 22, 2017 9:32 pm
Forum: Personal Consumer Issues
Topic: What service do you pay for that you could easily do yourself?
Replies: 49
Views: 3548

Re: What service do you pay for that you could easily do yourself?

I can't think of anything I pay for that I could easily do myself. OK snow shoveling and lawn care I could do myself but hate both enough to qualify as not able. More than that the people who do it do it so fast and efficiently with large machinery that it seems nuts not to have them do it. They als...
by dbr
Sun Oct 22, 2017 9:23 pm
Forum: Investing - Help with Personal Investments
Topic: Timing the Bond Market/Interet Rates
Replies: 7
Views: 570

Re: Timing the Bond Market/Interet Rates

With the almost near certainty of the Federal Reserve raising interest rates again in December, is it better to wait until after the announcement to add to my bond allocation, or is any difference negligible if I’m mostly just using the Total Bond Market funds? And with all this talk about a bubbbl...
by dbr
Sun Oct 22, 2017 9:15 pm
Forum: Investing - Theory, News & General
Topic: Table 11.3 of The Bogleheads' Guide to Investing
Replies: 4
Views: 565

Re: Table 11.3 of The Bogleheads' Guide to Investing

The question you should be asking is why a 7% bond return was used in the calculations... Yes, that math is somewhat different now than then. But with all things tax the devil is in the details and you have to run the numbers that apply to the case in hand. The tax rate on non-qualified dividends d...
by dbr
Sun Oct 22, 2017 9:09 pm
Forum: Investing - Theory, News & General
Topic: Are all Vanguard Funds an Index Fund?
Replies: 15
Views: 937

Re: Are all Vanguard Funds an Index Funds?

I believe Vanguard also offers, mutual funds. If they do, I wonder why would they offer mutual fund which by definition is an active fund. No, index funds are index mutual funds, most definitely mutual funds. Some of them have exchange traded fund share classes. Some Vanguard funds are actively man...
by dbr
Sun Oct 22, 2017 7:26 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund "share price"
Replies: 22
Views: 886

Re: Mutual Fund "share price"

Yes - one should use a tool that shows total return (e.g. reinvestment of dividends and income distributions) by default. Price-only data is generally for more advanced situations. There should of course be the option to use price return only - it's relevant if one isn't reinvesting the income, or ...
by dbr
Sun Oct 22, 2017 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Helping college costs of grandchildren
Replies: 37
Views: 2073

Re: Helping college costs of grandchildren

Is there a particular reason to worry that helping with college costs for the grandchildren but not otherwise giving anyone any money would not be fair? I myself would see doing that as perfectly fair but I can understand why someone might take a different view and be of the opinion that each of the...
by dbr
Sun Oct 22, 2017 5:17 pm
Forum: Investing - Help with Personal Investments
Topic: Who does the portfolio reviews and why?
Replies: 19
Views: 1042

Re: Who does the portfolio reviews and why?

One advantage of this forum is getting people who have different ways of explaining something or a different picture of how something works. One or another of those comments will be useful to a person asking. Also some people have a knack of stating something in a way remarkably direct to the point...
by dbr
Sun Oct 22, 2017 5:10 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund "share price"
Replies: 22
Views: 886

Re: Mutual Fund "share price"

Just writing something like "price doesn't matter here" isn't particularly helpful. You are correct with your complaint above. Writing an obscure aphorism isn't helpful. But then you know my position on reasoning by metaphor and aphorism. A statement like that can be improved by saying something th...
by dbr
Sun Oct 22, 2017 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Who does the portfolio reviews and why?
Replies: 19
Views: 1042

Re: Who does the portfolio reviews and why?

One advantage of this forum is getting people who have different ways of explaining something or a different picture of how something works. One or another of those comments will be useful to a person asking. Also some people have a knack of stating something in a way remarkably direct to the point....
by dbr
Sun Oct 22, 2017 4:59 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund "share price"
Replies: 22
Views: 886

Re: Mutual Fund "share price"

It's the difference of buying by units versus buying by volume. The confusion is that the newbie thinks that they are buying units (3 television sets) when they are purchasing by volume (a gallon). I don't know how to get them past it, I often use the "4 quarts at a dollar each is the same as a gal...
by dbr
Sun Oct 22, 2017 4:55 pm
Forum: Investing - Theory, News & General
Topic: Observation on Edward Jones
Replies: 11
Views: 1701

Re: Observation on Edward ones

This is consistent with my experience with EJ. I have never invested with them, but I am considering a career change, and talked to a reasonably successful EJ guy about a year ago. The guy I talked to was fairly knowledgeable about several segments of the business, but flat out denied that they had...
by dbr
Sun Oct 22, 2017 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Who does the portfolio reviews and why?
Replies: 19
Views: 1042

Re: Who does the portfolio reviews and why?

Right People just pile in at random. There are posters who are more willing to spend time at it than others. If someone begs to differ with any particular piece of advice or has a different view I have not noticed people hesitating to join in.
by dbr
Sun Oct 22, 2017 4:47 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund "share price"
Replies: 22
Views: 886

Re: Mutual Fund "share price"

It's the difference of buying by units versus buying by volume. The confusion is that the newbie thinks that they are buying units (3 television sets) when they are purchasing by volume (a gallon). I don't know how to get them past it, I often use the "4 quarts at a dollar each is the same as a gal...
by dbr
Sun Oct 22, 2017 4:45 pm
Forum: Personal Consumer Issues
Topic: Wife New Car Recommendations - SUV
Replies: 51
Views: 3934

Re: Wife New Car Recommendations - SUV

The only cool SUV is a Jeep Wrangler....I'd wait for the new one. If it is to be a jeep this model is one that starts to be cool and it isn't all that expensive: https://www.jeep.com/wrangler.html/ Just want to put this out there for anyone who has never driven a Wrangler, especially if it has offr...
by dbr
Sun Oct 22, 2017 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 95
Views: 2834

Re: Commission only fiduciary planner

This. Exactly this. Nip it in the bud. They already have you on the hook. And you're going along out of a sense of social obligation. If you feel obligated now, it will only get worse. It's YOUR money. You owe them *nothing*. Just give them a polite brush off. "Sorry, I'll have to take a raincheck....
by dbr
Sun Oct 22, 2017 4:37 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund "share price"
Replies: 22
Views: 886

Re: Mutual Fund "share price"

I think glossary is a good note for it's function. But then I started thinking that would end up being more like a dictionary. So then I, personally, would go to googleing the web for mutual fund share price. Indeed. One part of stewwwing is looking things up to get a better understanding and exten...
by dbr
Sun Oct 22, 2017 4:35 pm
Forum: Investing - Theory, News & General
Topic: Wade Pfau’s new book: How Much Can I Spend in Retirement?
Replies: 28
Views: 5859

Re: Wade Pfau’s new book: How Much Can I Spend in Retirement?

You can read Kindle books with the PC or iMac app on a 21", 27" or larger screen. This somewhat recalls a thread about what device to get where a point possibly overlooked is that big display screens have uses.
by dbr
Sun Oct 22, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Consultant/Strategists
Replies: 4
Views: 380

Re: Tax Consultant/Strategists

One of my family members is a tax accountant who does tax planning for small/medium businesses and individuals whose financial situation is on the order of a small business. I would not attempt to get involved in his client base and anyway the usual business he does is probably not a fit for your qu...
by dbr
Sun Oct 22, 2017 4:10 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund "share price"
Replies: 22
Views: 886

Re: Mutual Fund "share price"

Well, the price of a share can matter but certainly not in the sense introduced by the OP. The fallacy in question is that a higher share price is a more "expensive" share, as if a share were a fixed entity in all cases, like buying a donut or a car. I guess I don't know where this is to be explaine...
by dbr
Sun Oct 22, 2017 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement (mostly TIAA) allocation questions with 20 year horizon and concern about upcoming market volatility
Replies: 14
Views: 495

Re: Retirement (mostly TIAA) allocation questions with 20 year horizon and concern about upcoming market volatility

How you should balance between stocks and bonds depends on how much risk you want to take to get the return you need to meet your objectives. To figure that out you pretty much need to work through a statistical model, perhaps Monte Carlo based, to understand the range of outcomes you can expect giv...
by dbr
Sun Oct 22, 2017 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: VWELX, VWINX, VBINX [Vanguard Wellington, Wellesley, Balanced]
Replies: 3
Views: 402

Re: VWELX, VWINX, VBINX [Vanguard Wellington, Wellesley, Balanced]

Hi I'm 59. Want to invest Roth $ in 1/3 VWELX, 1/3 VWINX, 1/3 VBINX, and not have to think about markets. 5 years before I would consider any withdrawls. Yes, No ? Thx ! Have you tabulated what fraction of that portfolio would be in stocks and therefore whether or not that would mean you don't have...
by dbr
Sun Oct 22, 2017 1:02 pm
Forum: Investing - Help with Personal Investments
Topic: Am i missing anything without REITs..
Replies: 5
Views: 543

Re: Am i missing anything wihtout REITs..

You are not missing anything whether or not you own your own home. REITS are already represented in the total market but not in the proportion real estate represents of all investable assets. But that doesn't matter because REITS are not the same asset class as real estate.
by dbr
Sun Oct 22, 2017 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 95
Views: 2834

Re: Commission only fiduciary planner

And for the new investor or one with a modest portfolio, a single good balanced fund (such as Target Retirement, STAR Fund, LifeStrategy, Balanced Index Fund, Wellington, or similar) is all that is needed. That requires no portfolio management or personal expertise or professional advice at all. Yo...
by dbr
Sun Oct 22, 2017 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: I want to (semi) retire at 42, in 2 years. Can I?
Replies: 28
Views: 3476

Re: I want to (semi) retire at 42, in 2 years. Can I?

Thanks for the estimate of 3.5% - sounds like that's a somehow realistic # vs. some others I've read where te yield is 4%-4.5%... How much you can withdraw from a portfolio over time without running out of money cannot be directly calculated from average yield because variable sequence of returns c...
by dbr
Sun Oct 22, 2017 12:05 pm
Forum: Investing - Theory, News & General
Topic: Forbes List- Jack Bogle among 100 Greatest Business Minds
Replies: 4
Views: 407

Re: Forbes List- Jack Bogle among 100 Greatest Business Minds

I found him to be a fascinating speaker at the Boglehead's Conference. He has interacted with some of the greatest minds in the past 60 years. He still seems to remember a great deal. He is still extremely sharp at 88 and knows immediately when there is something wrong with the charts he is discuss...
by dbr
Sun Oct 22, 2017 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 149
Views: 11128

Re: Does anyone here with net worths north of $1 mil use financial advisors?

tncoltsfan wrote:
Sun Oct 22, 2017 11:32 am
Is anyone replying to this thread actually north of $1 million? :beer
Does she or doesn't she? Only her FA knows for sure.

https://www.youtube.com/watch?v=FkxgkquA6sk
by dbr
Sun Oct 22, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Turning 65, and choosing not to take Medicare Part B
Replies: 28
Views: 2250

Re: Turning 65, and choosing not to take Medicare Part B

There are many reasons for these cutbacks of retiree benefits. It all depends on the details, but even if you are "grandfathered" now, I suspect that there is a possibilty (depending on the program) that some of this could be terminated in the future. I agree grandfathering is voluntary decision on...
by dbr
Sun Oct 22, 2017 11:54 am
Forum: Personal Finance (Not Investing)
Topic: What to do: Financial Advisor for Trust Breaching Fiduciary Duty
Replies: 14
Views: 1361

Re: What to do: Financial Advisor for Trust Breaching Fiduciary Duty

Are you saying 5-6% total per-year expenses, or just sales fees without any management charges or underlying fund fees? If the former, I'd move on - beats losing another $250k to a lawyer. I don't think you'll find 3-4% unusual, or even a little higher. Do you really need a trust for that much mone...
by dbr
Sun Oct 22, 2017 11:44 am
Forum: Personal Consumer Issues
Topic: Bought the new car, old car has issues driving off lot
Replies: 14
Views: 1416

Re: Bought the new car, old car has issues driving off lot

With my background in physics I once engaged with a very closely held private business to develop a device to be sold to auto dealers that remotely creates various random failures in cars in the visitor lot with the object of helping shoppers along with the incentive to buy a new car and trade the o...
by dbr
Sun Oct 22, 2017 11:36 am
Forum: Investing - Help with Personal Investments
Topic: I want to (semi) retire at 42, in 2 years. Can I?
Replies: 28
Views: 3476

Re: I want to (semi) retire at 42, in 2 years. Can I?

This is correct. If we take the assets to total around $4.5M and apply some very rough approximation of a 3.5% rule the spending estimate comes out around $150K gross before taxes, investment expenses etc. So the question is how does that compare to what you think you intend to spend. The next part...
by dbr
Sun Oct 22, 2017 11:33 am
Forum: Investing - Theory, News & General
Topic: For those near retirement and rebalanced to Bonds...
Replies: 34
Views: 3397

Re: For those near retirement and rebalanced to Bonds...

People would be dramatically more comfortable with a higher bond percentages with real bond rates in the 2-3% range vs. the 0% range they're in now. A lot of the talk we have here about 100% stock etc. is really based on that, not now well the market has done lately. It's hard to sleep well at nigh...
by dbr
Sun Oct 22, 2017 11:29 am
Forum: Investing - Help with Personal Investments
Topic: Commission only fiduciary planner
Replies: 95
Views: 2834

Re: Commission only fiduciary planner

For people who have neither the time, knowledge, or temperament to self direct their investments a good financial planner can be extremely beneficial. If they do nothing else than give the client peace of mind and convince them to stay the course then they have earned a modest fee because it is oft...
by dbr
Sun Oct 22, 2017 11:20 am
Forum: Investing - Help with Personal Investments
Topic: Within your context: Do you consolidate a fund when it is 5% or less of total funds/investments and why?
Replies: 20
Views: 937

Re: Do you consolidate a fund when it is 5% or less of total funds/investments and why?

I am interested in hearing how this discussion plays out, and have thought of asking a question like this myself. I am interested in whether in theory, allocations of <5% can improve a portfolio. For example, Vanguard's Target Retirement 2060 has 2.9% of its portfolio in International Bonds. (https...