Search found 5090 matches

by mptfan
Tue May 21, 2019 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Compliment Will
Replies: 41
Views: 1677

Re: Payable On Death Account as Will Substitute

His question to me was a good one that I'm having trouble answering: "What's the downside?" And "If this is so good, why aren't many more people doing it". There is no downside, he would be foolish not to do it, and he should do that regardless of whether he has a will. And how does he know that mo...
by mptfan
Mon May 20, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 13860

Re: FIRE - What am I missing in the News Stories

They retired from their original occupation, but they now have a different paying occupation (even if low-paying or part-time), so they are not "retired from work", just "retired from surgery" or "retired from chemical engineering". They still do some work for money. Like I said, for me retirement ...
by mptfan
Sun May 19, 2019 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 13860

Re: FIRE - What am I missing in the News Stories

Many say they have retired from their software engineering position and now make coffee at Starbucks. That's not retired. That is literally retired. We apply the same concept to people who retire from the military, or from sports or other activities. Retiring simply does not mean "never again doing...
by mptfan
Thu May 16, 2019 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1445

Re: Error with Social Security Earnings History

That is correct. I believe he paid, but failed to file the W4. Or he is a scumbag :) Maybe your former employer did not send the social security payments to the IRS, that would explain it. If that is true, then your earnings history from the perspective of the Social Security Administration is corr...
by mptfan
Thu May 16, 2019 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1445

Re: Error with Social Security Earnings History

EDIT: I revisited the Wage and Income Transcript, and they do not contain anything about the missing wages from 2009, 2010, or 2011. I am 100% certain that when I filed I claimed the income and filled all the boxes from the W2. I believe the Wage and Income Transcript is filled with data filed by t...
by mptfan
Thu May 16, 2019 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1445

Re: Error with Social Security Earnings History

I did get one copy from the IRS, but it indicated that since I efiled there was no copies of W2s. I might have went the wrong route though. Looks like the "Wage and Income Transcript" is what I am after Right. There are different types of tax transcripts and they are all different and show differen...
by mptfan
Thu May 16, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6350

Re: Do you reward yourself for achieving a financial goal?

Darth Xanadu wrote:
Thu May 16, 2019 11:26 am
mmmodem wrote:
Thu May 16, 2019 10:15 am

When we crossed 3 commas last year, I just relaxed and breathed a sigh of relief.
:shock: I should hope so!
Indeed. I would be relaxed long before I reached my first billion.
by mptfan
Thu May 16, 2019 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1445

Re: Error with Social Security Earnings History

Wage and Income Transcript - shows data from information returns we receive such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information. Current tax year information may not be complete until July. This transcript is available for up to 10 prior years using Get Transcript Online or Fo...
by mptfan
Thu May 16, 2019 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Error with Social Security Earnings History
Replies: 26
Views: 1445

Re: Error with Social Security Earnings History

Silk McCue wrote:
Thu May 16, 2019 10:11 am
You can get a Tax Account Transcript for the current tax year and up to 10 years prior online or using Form 4506-T. Not certain if it gives you everything you need but I would request them immediately.
This.
by mptfan
Thu May 16, 2019 9:18 am
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10280

Re: Does your retirement plan work if stocks are flat or in decline for decades?

Yes. That is exactly what I would say. 30-40 years? In a row? That has never happened in the history of the stock market (which itself is only about 90 years old). Stocks were traded on the New York Stock Exchange as far back as 1817, that's more than 200 years ago. https://en.wikipedia.org/wiki/Ne...
by mptfan
Tue May 14, 2019 3:39 pm
Forum: Personal Investments
Topic: Thoughts on Schwab
Replies: 37
Views: 3474

Re: Thoughts on Schwab

fatmike91 wrote:
Mon May 13, 2019 8:42 pm
Schwab Yield Plus was an unforgivable disaster. If your unfamiliar, then do an internet search, then ask why in the world would you trust that company with your money?
Perhaps they have learned their lesson and will be extra careful to avoid the same problem in the future?
by mptfan
Tue May 14, 2019 3:19 pm
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10280

Re: Does your retirement plan work if stocks are flat or in decline for decades?

Thanks for clarifying. Considering that the OP is referring to a retirement plan working, I would believe that real returns would be far more relevant. I personally couldn't care less if my nominal return was 10% but inflation was 20%. That doesn't help me pay for groceries, insurance, property tax...
by mptfan
Tue May 14, 2019 3:13 pm
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10280

Re: Does your retirement plan work if stocks are flat or in decline for decades?

If stocks decline for "decades" I would imagine that corporate bonds - especially of the high yield variety - would fare poorly, as well. I agree. If stocks decline for decades I think we would have bigger problems though. Maybe, maybe not. There has been at least one 20 year period where U.S. stoc...
by mptfan
Tue May 14, 2019 2:11 pm
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10280

Re: Does your retirement plan work if stocks are flat or in decline for decades?

RNJ wrote:
Tue May 14, 2019 12:44 pm
If stocks decline for "decades" I would imagine that corporate bonds - especially of the high yield variety - would fare poorly, as well.
I agree. If stocks decline for decades I think we would have bigger problems though.
by mptfan
Mon May 13, 2019 2:07 pm
Forum: Personal Investments
Topic: Does our adviser hate us - Brokerage Account help please
Replies: 27
Views: 2498

Re: Does our adviser hate us - Brokerage Account help please

I’ve been scouring the earth to find a resource that shows me that actively managed portfolios are better than passive but I’m coming up empty. The reason you can't find it is because it does not exist...the opposite is true... low cost index investing beats active management most of the time. Afte...
by mptfan
Mon May 13, 2019 2:01 pm
Forum: Personal Investments
Topic: Does our adviser hate us - Brokerage Account help please
Replies: 27
Views: 2498

Re: Does our adviser hate us - Brokerage Account help please

justaguy01 wrote:
Mon May 13, 2019 1:33 pm

So how ugly is it?
Very, but you can fix it. Don't beat yourself up about the past. I hate to ask, but are you paying account maintenance fees or AUM (assets under management) fees on top of those high expense ratios? I suspect you are.
by mptfan
Mon May 13, 2019 1:57 pm
Forum: Personal Investments
Topic: Email to my Edward Jones Rep
Replies: 46
Views: 4190

Re: Email to my Edward Jones Rep

"His Name", the potential sale of my business continues to progress. I am performing due diligence concerning how to handle a lump sum portfolio investment of approximately "low 7 figures". I am not interested in looking at past performance of funds and I will use load costs and expense ratio costs...
by mptfan
Mon May 13, 2019 12:26 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 10816
Views: 1889328

Re: Dip Day!

The market is back to where it was about two months ago in March, were you excited to toss extra cash into the market in March?

The S&P 500 is at 2,804 right now, wake me up when it gets back to where it was on Christmas Eve... 2,351, that would be a 20% drop from the recent high of 2,945.
by mptfan
Mon May 13, 2019 10:12 am
Forum: Personal Investments
Topic: Does your retirement plan work if stocks are flat or in decline for decades?
Replies: 180
Views: 10280

Re: Does your retirement plan work if stocks are flat or in decline for decades?

So my question is will your retirement plan work if stocks do not at least outperform bonds for the duration of your retirement or worse yet have returns below 0% real? Or another way to put it does your retirement plan have a contingency for stocks being flat or declining throughout your retiremen...
by mptfan
Sun May 12, 2019 2:43 pm
Forum: Personal Investments
Topic: Direction of interest rates
Replies: 19
Views: 1840

Re: Direction of interest rates

redtuna wrote:
Sat May 11, 2019 12:52 pm
I once heard that the direction of interest rates set by the Fed in the short term , 6 to 12 months, are just as hard to predict as the direction of the stock market. Is this true?
No, predicting interest rates is easy, anyone can do it.
by mptfan
Sat May 11, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 952
Views: 253691

Re: Share your net worth progression

I don't have detailed yearly records, but my general progression is: 2004: $100k (graduated from college, made some money while there) 2007: $200k (changed jobs) 2011: $1200k (got married, career has been pretty good) 2016: $7000k (career has been really good, the market has gone up) 2017: $9000k (...
by mptfan
Sat May 11, 2019 11:18 am
Forum: Personal Consumer Issues
Topic: Brother in law using our address
Replies: 12
Views: 1662

Re: Brother in law using our address

Watty wrote:
Sat May 11, 2019 11:17 am
2) Your car/homeowners insurance or umbrella policy could be based on the number of cars you have and that car might be counted as an additional car.
I don't think so, not if the car is not regularly parked at the house or driven by people in the house.
by mptfan
Fri May 10, 2019 2:19 pm
Forum: Personal Investments
Topic: Time to fire the financial assistant. Help me with the courage.
Replies: 41
Views: 3980

Re: Time to fire the financial assistant. Help me with the courage.

It sounds like you are descibing Edward Jones. Contact Vanguard (or wherever you want to transfer the funds) and let them initiate the transfer, no need to communicate with him anymore.
by mptfan
Fri May 10, 2019 11:47 am
Forum: Personal Consumer Issues
Topic: Single People and Retirement Question
Replies: 124
Views: 17311

Re: Single People and Retirement Question

As for Saudi whatever your view of their policies (and I am not a fan) there is very little risk to a western visitor there. And the point is mostly moot because they don't issue tourist visas so unless you go on business or are Muslim on the Hajj it is not going to happen. Saudi Arabia has started...
by mptfan
Thu May 09, 2019 11:05 am
Forum: Personal Investments
Topic: Assessing bond risk
Replies: 3
Views: 242

Re: Assessing bond risk

dave1054 wrote:
Thu May 09, 2019 10:55 am
Is there any significant difference in risk between equally rated short/ limited term corporate bonds vs short/limited term muni bond funds with equal duration.
No. Equally rated means what it says...the rating is equal, therefore the risk is the same.
by mptfan
Wed May 08, 2019 9:29 pm
Forum: Personal Investments
Topic: Long or medium bonds
Replies: 113
Views: 9377

Re: Long or medium bonds

The issue is that these two months were not just a "fluctuation" in the stock market. In those same too months, the stock market had dropped enough that most investors needed to rebalance into stock in order to keep their allocations. (This was one of only two times that I hit a rebalancing thresho...
by mptfan
Wed May 08, 2019 9:15 pm
Forum: Personal Investments
Topic: Long or medium bonds
Replies: 113
Views: 9377

Re: Long or medium bonds

VWESX - Seems to have very good returns but is specifically more risky and likely won't perform well in a bear market . Why did you conclude that VWESX likely would not perform well in a bear market? It holds medium-quality corporate bonds, which are likely to decline due to default risk in a sever...
by mptfan
Wed May 08, 2019 11:26 am
Forum: Personal Investments
Topic: Long or medium bonds
Replies: 113
Views: 9377

Re: Long or medium bonds

Undone1 wrote:
Wed Oct 03, 2018 7:41 am
VWESX - Seems to have very good returns but is specifically more risky and likely won't perform well in a bear market.
Why did you conclude that VWESX likely would not perform well in a bear market?
by mptfan
Tue May 07, 2019 7:37 am
Forum: Personal Investments
Topic: I tried to fire my financial advisor of 12 years today...
Replies: 127
Views: 13238

Re: I tried to fire my financial advisor of 12 years today...

I would be mad as hell that the guy immediately agreed to drop his fee by a third. That's basically saying that the whole time he took you for a sucker that would pay far more than his firm was willing make off of you. That would be my first reaction too. And you still think this guy is your friend?
by mptfan
Tue May 07, 2019 7:35 am
Forum: Personal Investments
Topic: I tried to fire my financial advisor of 12 years today...
Replies: 127
Views: 13238

Re: I tried to fire my financial advisor of 12 years today...

RickBoglehead wrote:
Tue May 07, 2019 5:24 am
Do NOT email him. You went about this all wrong. Pull funds without discussing it with him.
+1
by mptfan
Fri May 03, 2019 10:46 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

trav867 wrote:
Fri May 03, 2019 10:45 am
The way I phrase my goal is "to achieve freedom from the need to work for money."
Yes, but how do you know when you've reached that goal?
by mptfan
Fri May 03, 2019 10:40 am
Forum: Investing - Theory, News & General
Topic: Re-Examining an assumption: 45% bonds in retirement?
Replies: 95
Views: 11001

Re: Re-Examining an assumption: 45% bonds in retirement?

You are thinking of using bonds for income, but that is not the most important thing that bonds do. Bonds/fixed income assets offer stability. The fact that they can also provide income is just icing on the cake. There seems to be two camps on this issue...the "bonds are for safety" camp and the "b...
by mptfan
Thu May 02, 2019 9:36 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

Barsoom wrote:
Thu May 02, 2019 9:35 am
No, I didn't. I interpreted EXACTLY what you wrote.

-B
Yes, but your interpretation was incorrect.
by mptfan
Thu May 02, 2019 9:33 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

Barsoom wrote:
Thu May 02, 2019 9:33 am
So I did not "misinterpret." You misspoke. You should have said "likely."

-B
You did misintepret.
by mptfan
Thu May 02, 2019 9:27 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

But you did, right here: In all but the most extreme cases that means you live off of the return of your portfolio while your portfolio balance does not go down and in some cases increases over time. That's a much more strict definition and requires much more savings. -B You misinterpreted those wo...
by mptfan
Thu May 02, 2019 9:09 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

EddyB wrote:
Thu May 02, 2019 9:04 am
I haven’t concluded that there’s a “prevailing view” as you describe. I don’t think it’s relevant here to make that claim.
Whether it's the prevailing view or not, it's certainly a very popular view around here and it is cited in the Bogleheads Wiki as I referenced above.
by mptfan
Thu May 02, 2019 9:06 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

So you're saying that the "prevailing view" of FI is to keep the principle amount intact throughout your entire retirement? It is not more simply to have a draw-down strategy that ensures you have enough to cover your entire retirement? A person who retires with $1 million must die with $1 million ...
by mptfan
Thu May 02, 2019 8:57 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

Okay, so leave $1 in the account after paying the mortician. I was being somewhat tongue-in-cheek about it. The point is whether it is the main objective of FI to live off the earnings or to live free from working (live off the accumulated savings). FI for me is at it's minimum to live off my accum...
by mptfan
Thu May 02, 2019 8:46 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

I thought the goal was to make sure that your last check (to the mortuary) bounces. If I don't have heirs, why would I want to leave my initial portfolio balance in my account when I die? Shouldn't I increase my lifestyle and spend it down? You can have whatever goal you want, and to some extent I ...
by mptfan
Thu May 02, 2019 6:41 am
Forum: Personal Finance (Not Investing)
Topic: The goal of achieving FI
Replies: 41
Views: 3382

Re: The goal of achieving FI

FI doesn't really mean what you said... It just means having enough assets to live for the rest of your life at a reasonable standard of living without working. It's freedom from the financial need to work, that's all. Most Bogleheads have a stricter definition of FI that that...you have to have en...
by mptfan
Wed May 01, 2019 3:00 pm
Forum: Investing - Theory, News & General
Topic: Why is VTI down & VTSAX up?
Replies: 13
Views: 692

Re: Why is VTI down & VTSAX up?

Mutual funds update once a day after market closes. ETFs show real time trading. So if I purchase VTSAX before day is over, it will be priced at today's VTI's current rate (roughly). If one is timing the market? No. If you purchase VTSAX today, you will get the VTSAX NAV price as determined at the ...
by mptfan
Wed May 01, 2019 2:57 pm
Forum: Investing - Theory, News & General
Topic: Why is VTI down & VTSAX up?
Replies: 13
Views: 692

Re: Why is VTI down & VTSAX up?

Mutual funds update once a day after market closes. ETFs show real time trading. So if I purchase VTSAX before day is over, it will be priced at today's VTI's current rate (roughly). If one is timing the market? No. If you purchase VTSAX today, you will get the VTSAX NAV price as determined at the ...
by mptfan
Wed May 01, 2019 2:55 pm
Forum: Investing - Theory, News & General
Topic: Why is VTI down & VTSAX up?
Replies: 13
Views: 692

Re: Why is VTI down & VTSAX up?

VTI is an ETF, it is traded and priced throughout the day like a stock so you are seeing the real time price as reflected by the stock prices right now. VTSAX is a mutual fund, it is priced only once per trading day (the NAV), at the end of the day, so you are seeing the end of day price from yester...
by mptfan
Wed May 01, 2019 9:52 am
Forum: Personal Investments
Topic: Ever Too Much in HSA?
Replies: 53
Views: 5019

Re: Ever Too Much in HSA?

I hope you have been saving all those receipts. Exactly. I have come to the conclusion that I do not want to keep track of receipts for years, possibly decades, to prove that my future HSA withdrawals are tax free. Documents get lost. Memories fade. Life happens. And what happens if you die before ...
by mptfan
Tue Apr 30, 2019 5:29 pm
Forum: Investing - Theory, News & General
Topic: "The market is overvalued"
Replies: 90
Views: 6978

Re: "The market is overvalued"

Triple digit golfer wrote:
Tue Apr 30, 2019 4:25 pm
I hear a lot lately that the market is overvalued,
Where have you heard that?
by mptfan
Tue Apr 30, 2019 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Low Cost Will?
Replies: 13
Views: 542

Re: Low Cost Will?

"There are known knowns. There are things we know that we know. There are known unknowns. That is to say, there are things that we now know we don't know. But there are also unknown unknowns. There are things we do not know we don't know."

Donald Rumsfeld.
by mptfan
Tue Apr 30, 2019 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Low Cost Will?
Replies: 13
Views: 542

Re: Low Cost Will?

This is something about which you should not try to be cheap. Let me throw a few cliches at you that I think apply...you get what you pay for, you do not know what you do not know, and an ounce of prevention is worth a pound of cure.
by mptfan
Tue Apr 30, 2019 10:28 am
Forum: Personal Finance (Not Investing)
Topic: making the leap to online only banking-- updated reviews on Fidelity CMA or Schwab High Yield?
Replies: 21
Views: 1526

Re: making the leap to online only banking-- updated reviews on Fidelity CMA or Schwab High Yield?

If you go to online-only banking, do you have a plan for how you are going to get a medallion signature guarantee when you need one? Serious question, when have you ever needed a Medallion signature guarantee in recent times? I have a local brick and mortar bank that I've used the Medallion signatu...
by mptfan
Mon Apr 29, 2019 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: making the leap to online only banking-- updated reviews on Fidelity CMA or Schwab High Yield?
Replies: 21
Views: 1526

Re: making the leap to online only banking-- updated reviews on Fidelity CMA or Schwab High Yield?

I use Schwab Bank, I have switched to using online banking only, I have no local brank anymore, and I have nothing but good things to say about Schwab. The only issue I have had is depositing cash...in the rare case where that was an issue my work around is to get a money order from the post office ...
by mptfan
Mon Apr 29, 2019 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Why do most people hate/dread learning about money and is there a good book for helping them?
Replies: 78
Views: 4879

Re: Why do most people hate/dread learning about money and is there a good book for helping them?

I recently came up with a list of the best personal finance books by consumer category: http://chrisleoonline.com/personal-finance-book/ I think Dave Ramsey and Rich Dad Poor Dad would help them, but the others may appeal to them as well. You think the best overall personal finance book is Rich Dad...