Search found 5158 matches

by mptfan
Mon Jun 24, 2019 1:09 pm
Forum: Investing - Theory, News & General
Topic: depleting accounts in retirement
Replies: 43
Views: 7673

Re: depleting accounts in retirement

Maybe they're repeating it because it is reasonable for many, depending on how you define it. Many Roth conversion strategies involve spending from taxable while Roth converting. Do you see anything wrong with that? You're right, that depends on what you mean by "many." I agree it may be good advic...
by mptfan
Mon Jun 24, 2019 1:07 pm
Forum: Investing - Theory, News & General
Topic: depleting accounts in retirement
Replies: 43
Views: 7673

Re: depleting accounts in retirement

randomguy wrote:
Sun Jun 23, 2019 3:10 pm
Spendable taxable first is wrong for most people so the basic premise is just wrong. I don't know why people keep repeating it.
I agree, I don't know why people keep repeating this.
by mptfan
Mon Jun 24, 2019 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Frugal or cheap?
Replies: 100
Views: 7501

Re: Frugal or cheap?

TxAg wrote:
Sat Jun 22, 2019 9:49 pm
One more vote for "happy wife - happy life" being a dumb saying
+1 Why do you never hear "happy husband, happy life"?
by mptfan
Sat Jun 22, 2019 7:23 am
Forum: Personal Consumer Issues
Topic: what was your worst major purchase? mine is a 2019 mazda3
Replies: 154
Views: 11250

Re: what was your worst major purchase mine is a 2019 mazda3

stoptothink wrote:
Fri Jun 21, 2019 4:00 pm
\
No. I put the ex through school, often working 2 jobs while in school myself. She didn't earn a penny during our 5yrs of marriage.
Wow. Does she at least give you free dental care?
by mptfan
Fri Jun 21, 2019 3:29 pm
Forum: Personal Consumer Issues
Topic: what was your worst major purchase? mine is a 2019 mazda3
Replies: 154
Views: 11250

Re: what was your worst major purchase mine is a 2019 mazda3

Undergrad and dental school for ex-wife. $300k down the tubes for me. Pretty sure cash-flowing current wife's undergrad (2 more semesters) is going to be a better long-term purchase/investment. I don't mean to be flippant, but are you doing the same thing with the current wife that you did with the...
by mptfan
Fri Jun 21, 2019 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Access to joint accounts at spouse’s death
Replies: 31
Views: 2448

Re: Access to joint accounts at spouse’s death

is50xenough wrote:
Fri Jun 21, 2019 9:18 am
How about if joint account but not spouse — does that change anything? Is the half ramp up different with different types of joint accounts? Meaning “payable on death” vs tenants vs any other?
A payable on death (POD) account is not a different type of joint account.
by mptfan
Fri Jun 21, 2019 6:09 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1005
Views: 266720

Re: Share your net worth progression

ddurrett896 wrote:
Fri Jun 21, 2019 5:44 am

lol I was just about to post "Man this thread makes me nauseous."
I think you mean nauseated.

https://www.grammarly.com/blog/nauseated-vs-nauseous/
by mptfan
Fri Jun 21, 2019 6:01 am
Forum: Personal Finance (Not Investing)
Topic: Access to joint accounts at spouse’s death
Replies: 31
Views: 2448

Re: Access to joint accounts at spouse’s death

The joint account holder has the complete right to withdraw the entire balance whether or not there has been a death. This is correct. Both joint account holders have full and complete ownership of the account while both are alive and each joint account holder can withdraw the entire balance while ...
by mptfan
Thu Jun 20, 2019 9:19 am
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3450

Re: How to ensure POA is acting in best interest of grantor?

The way to start with the sister is surely something along the lines of "I'm a little worried about mom's finances, could we sit down on afternoon and go over them?" If she truly will not do that, there is an issue. The OP has already said that the sister is "unwilling to share any meaningful infor...
by mptfan
Wed Jun 19, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to ensure POA is acting in best interest of grantor?
Replies: 65
Views: 3450

Re: How to ensure POA is acting in best interest of grantor?

Regarding the question about requiring your sister to provide an accounting to you, I'm not a specialist in this area of the law but my suspicion is that she is not obligated to give you an accounting.
by mptfan
Mon Jun 17, 2019 12:06 pm
Forum: Investing - Theory, News & General
Topic: Indexes all up - Total Market down?
Replies: 9
Views: 1518

Re: Indexes all up - Total Market down?

That may be the result of differences in when the indices are updated compared to when the price of VTI is updated, especially when the market is on the cusp of being up or down. I suspect that the major indicies are updated close to real time during the trading day while the price of VTI may be del...
by mptfan
Mon Jun 17, 2019 11:39 am
Forum: Personal Consumer Issues
Topic: How to avoid high vet bills?
Replies: 90
Views: 4987

Re: How to avoid high vet bills?

There are good vets and bad vets. Good vets are worth whatever they charge. Do you "replace" your kids if they have high medical bills? How about the spouse, is he/she out the door if they get costly? Dogs are not "children", nor are "children" dogs. I value people much more than animals. I agree.
by mptfan
Mon Jun 17, 2019 11:04 am
Forum: Personal Consumer Issues
Topic: Recommendation for light beer.
Replies: 41
Views: 2551

Re: Recommendation for light beer.

chisey wrote:
Mon Jun 17, 2019 10:08 am
Life is too short to drink light beer.
I like light beer, I prefer it to heavier beers. It's more refreshing to me and I don't get as bloated or as full.
by mptfan
Fri Jun 14, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 753
Views: 80776

Re: Fidelity as a one stop shop

engineerbme wrote:
Fri Jun 14, 2019 1:39 pm
recently did an ATM withdrawal and it showed up as 'debit card purchase', hoping the reimbursement actually takes place because contrary to what ive read on this forum it should be 'instant' (?)...
Why do you say it should be "instant?"
by mptfan
Thu Jun 13, 2019 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Credit Card - Binding arbitration opt-out?
Replies: 43
Views: 3470

Re: Chase credit card arbitration agreement

Although you would probably never sue the bank, you could be part of a class action suit. You give that up if you agree to arbitration. If you do not agree, will they let you keep your account open ? Chase Won’t Close Your Card Account If You Reject Arbitration --- Bloomberg article --- https://www...
by mptfan
Thu Jun 13, 2019 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1005
Views: 266720

Re: Share your net worth progression

ypmypm888 wrote:
Sun May 19, 2019 9:32 pm
Started tracking my net worth "late" in my late 20s. Made a number of mistakes in my youth, and squandered my 20s with cars, an expensive girlfriend and partying.
A famous person once said... "I spent half of my money on alcohol, gambling and wild women... the rest I just wasted."
by mptfan
Tue Jun 11, 2019 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

dknightd wrote:
Mon Jun 10, 2019 6:40 pm
I'm was thinking around $1m. But that might not be enough. I guess we'll decide after we meet with insurance agent.
This reminds me of the adage...never ask your barber if you need a haircut.
by mptfan
Mon Jun 10, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 753
Views: 80776

Re: Fee Reimbursment

snowman wrote:
Mon Jun 10, 2019 9:11 am
jbsmith05 wrote:
Mon Jun 10, 2019 6:12 am
On fidelity.com/cma it says that the atm fee is reimbursed the same day - is this actually true?
It's reimbursed next business day in my experience. So it should hit your account today, and you should see it posted tomorrow at the latest.
This is my experience as well.
by mptfan
Mon Jun 10, 2019 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

mptfan, just to be clear, given your professional expertise and experience, you would not recommend that individuals purchase umbrella liability on top of homeowner's insurance and auto liability? I do not recommend one way or the other. I get the impression that the insurance industry uses fear mo...
by mptfan
Mon Jun 10, 2019 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

FootballFan5548 wrote:
Mon Jun 10, 2019 3:35 pm
I don't know much about personal umbrellas...
That seems to sum it up. The OP was asking about personal umbrellas.
by mptfan
Sun Jun 09, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

But should we buy a policy to cover an event with something like a one in a million chance of occurring? We face many other risks more grave than that with a far greater likelihood of occurrence that we don't insure against. Exactly. Can I sell you some identity theft insurance? How about brokerage...
by mptfan
Sun Jun 09, 2019 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

And after that incident (early 1980s) California changed their laws, so currently, per the comments: "California law does not permit injury lawsuits against property owners for any injury occuring [sic] during the course of or after the commission of a felony." Exactly. My state has changed its law...
by mptfan
Sun Jun 09, 2019 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

3) umbrella policy = inexpensive access to high-powered, aggressive lawyers to fight any lawsuit that may befall us. You get access to the same "high powered and aggressive" lawyers (whatever that means) with primary insurance, you don't need umbrella insurance for that. It sounds like insurance sa...
by mptfan
Sun Jun 09, 2019 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

Just curious about risk of teenagers drivers. Will they be after the parents wealths if the teenagers are at fault? It depends on the situation. Despite what some may think, parents are not automatically liable for the negligence of their teenage children, but they may be liable in certain situatio...
by mptfan
Sat Jun 08, 2019 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

Can anyone cite an actual finalized court case where a defendant in a lawsuit had the majority of their future income garnished to pay a legal judgement in excess of actual policy limits from an umbrella policy? I don't think anyone can, not for primary policies either. Aside from the fact that wag...
by mptfan
Sat Jun 08, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

The insurer will hire and pay the fees for the attorneys plus any settlement under policy limits. The premiums we’ve paid over they years allow us to sleep well at night and are less than we’d have to pay if they are ever needed, even just to get a frivolous case dismissed. The same is true for pri...
by mptfan
Sat Jun 08, 2019 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

On top of this plaintiff lawyers typically work on a contingency basis which gives them a massive incentive to settle for the umbrella insurance limit rather than risk getting way less if the case goes to trial. (Not to mention there is more work and costs for them if they do have to take the case ...
by mptfan
Sat Jun 08, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

(One other detail is generally if the plaintiff offers to settle for the insurance limit, with you agreeing to this, and the insurance company ends up saying no and goes to trial, the insurance company ends up on the hook even for the amount above the insurance limit with a potential verdict. This ...
by mptfan
Sat Jun 08, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

*somewhat depends what you assume about plaintiff lawyer's ability to find out your insurance coverage v find out your total assets in deciding who it's worth going after or not. In my state there is a statute that requires the insured and the insurer to provide insurance information upon request. ...
by mptfan
Sat Jun 08, 2019 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

mptfan, in most of these cases you reference did the defendant have an umbrella or was their a good mix of people who only had underlying auto or homeowners who did not have to come out of pocket for amounts in excess of their coverage limit? Neither. In my experience it is rare for an individual d...
by mptfan
Sat Jun 08, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

I'll typically ask my agent from time to time about claims / loss activity that he is aware of. Some of his policy holders have had claims in excess of their primary auto limits. Having a "claim" in excess of your primary limits and having to actually *pay* more than your primary limits are not the...
by mptfan
Sat Jun 08, 2019 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

Sandtrap wrote:
Sat Jun 08, 2019 9:33 am
And, as "tomato" pointed out, the higher the net worth, the bigger the "target".
Likewise, the higher the insurance coverage, the bigger the target and higher insurance makes someone a more attractive target than the same amount of net worth.
by mptfan
Sat Jun 08, 2019 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 142
Views: 9104

Re: Do you carry Umbrella Insurance?

It is affordable and is an amount that insurance company would probably put up spirited defense and not just easily settle. It doesn't matter whether the insurance company puts up a spirited defense or easily settles, the monetary result is the same to you. You may actually prefer the insurance com...
by mptfan
Fri Jun 07, 2019 3:02 pm
Forum: Investing - Theory, News & General
Topic: Portfolio that maximizes number of profitable months
Replies: 5
Views: 383

Re: Portfolio that maximizes number of profitable months

fabdog wrote:
Fri Jun 07, 2019 12:08 pm
Savings account or money market fund :)

They would be "green" each month assuming you weren't worried about inflation or taxes
I agree, money market funds seem to fit the bill perfectly.
by mptfan
Fri Jun 07, 2019 8:53 am
Forum: Personal Finance (Not Investing)
Topic: how to deal with people who are not living boglehead way of life
Replies: 45
Views: 2750

Re: how to deal with people who are not living boglehead way of life

But the other day, talking with co-workers, we got to talking taxes. I pointed out that couple even making into 6 figures could really only owe 4 or 5k in federal taxes if they do it right, with having 401k money taken out, utilize FSA, etc. When you say "a couple making into 6 figures" I interpret...
by mptfan
Fri Jun 07, 2019 8:48 am
Forum: Personal Finance (Not Investing)
Topic: how to deal with people who are not living boglehead way of life
Replies: 45
Views: 2750

Re: how to deal with people who are not living boglehead way of life

bayview wrote:
Fri Jun 07, 2019 8:35 am
Never loan money to family, it will never be repaid.
I've lent money to family before, and it was repaid.
by mptfan
Fri Jun 07, 2019 8:47 am
Forum: Personal Finance (Not Investing)
Topic: how to deal with people who are not living boglehead way of life
Replies: 45
Views: 2750

Re: how to deal with people who are not living boglehead way of life

sd323232 wrote:
Fri Jun 07, 2019 7:17 am
I came to one conclusion: I cant help people who dont want help, so stepping aside and taking no action is the best choice here. Is this the right attitude?
Yes, it is.
by mptfan
Fri Jun 07, 2019 7:08 am
Forum: Personal Consumer Issues
Topic: Everyone ought to be required to have an umbrella policy and life insurance!
Replies: 13
Views: 1445

Re: Everyone ought to be required to have an umbrella policy and life insurance!

I do not think that a parent should be responsible for the negligence of their teenage child, and should not be forced to give up everything they have or will have because their teen child was negligent. You might not think it should be this way, but it pretty much is. I don't think so. On what do ...
by mptfan
Fri Jun 07, 2019 6:24 am
Forum: Personal Consumer Issues
Topic: Everyone ought to be required to have an umbrella policy and life insurance!
Replies: 13
Views: 1445

Re: Everyone ought to be required to have an umbrella policy and life insurance!

JonnyDVM wrote:
Fri Jun 07, 2019 6:23 am
This forum includes among the most responsible in society. From what I can ascertain most have umbrella and life and sometimes debate the merits of 3 million vs 5 million umbrella.
I am not sure your conclusion is correct.
by mptfan
Fri Jun 07, 2019 6:20 am
Forum: Personal Consumer Issues
Topic: Everyone ought to be required to have an umbrella policy and life insurance!
Replies: 13
Views: 1445

Re: Everyone ought to be required to have an umbrella policy and life insurance!

I do not think that a parent should be responsible for the negligence of their teenage child, and should not be forced to give up everything they have or will have because their teen child was negligent.
by mptfan
Wed Jun 05, 2019 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Is it Wise to Remove Escrow if Bank Allows it?
Replies: 87
Views: 5514

Re: Is it Wise to Remove Escrow if Bank Allows it?

Jack FFR1846 wrote:
Tue Jun 04, 2019 2:46 pm
I see no advantage to handing someone my money in order for them to screw up a payment. I'll pay myself, thank you very much.
+1
by mptfan
Wed Jun 05, 2019 9:03 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

How about putting on a "Let the Buyer Beware" presentation that gives them a objective viewpoint and tells those interested how to not get taken? How about putting the same message in a Villages publication? Just a thought. And what would be the incentive for someone to pay for and prepare such a p...
by mptfan
Tue Jun 04, 2019 9:10 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

What a con artist! Somebody needs to wear a wire to a dinner, record his lies and take it to the appropriate authorities. Has any crime been committed? No, no crime has been committed and the authorities would not do anything even if their comments were recorded. I am not defending these salespeopl...
by mptfan
Mon Jun 03, 2019 3:49 pm
Forum: Personal Investments
Topic: Do I need a financial planner or investment advisor or just this forum?
Replies: 30
Views: 2932

Re: Do I need a financial planner or investment advisor or just this forum?

Watty wrote:
Mon Jun 03, 2019 7:56 am
Note: "Fee based" is much different than "Fee only" so watch out for that.
Please avoid any financial "advisor" who uses the phrase "fee based" because that phrase is intentionally misleading.
by mptfan
Fri May 31, 2019 10:48 am
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 60
Views: 4292

Re: Does one need a bank account anymore?

I am constantly amazed at high monthly fees banks are collecting in this day and age. One would think this is the thing of the past - not in my area! New bank branches are popping up like mushrooms everywhere, and most of them come with exorbitant fees just for the privilege of having checking acco...
by mptfan
Fri May 31, 2019 10:46 am
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 60
Views: 4292

Re: Does one need a bank account anymore?

Yes a physical bank and a bank account are necessary for - safe deposit box - checking account (checks less than $500) - cash withdrawal more than $300 - checks for yard guy - check for pool lady - check for small garbage company - kid and grand kid presents So I think it is still needed. You do no...
by mptfan
Fri May 31, 2019 8:49 am
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 60
Views: 4292

Re: Does one need a bank account anymore?

IMO, the biggest potential downside to not having an additional bank account ... The OP did not ask about an "additional" bank account, the OP asked "Does one need a bank account anymore?" Yes he did. If the OP has all his money at Fidelity, what's the need for an "additional" bank account. Fidelit...
by mptfan
Fri May 31, 2019 8:44 am
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 60
Views: 4292

Re: Does one need a bank account anymore?

texas lawdog wrote:
Fri May 31, 2019 8:42 am
I do confess there are too many B&M branches
There are less and less, I can think of three near me that have closed recently.
by mptfan
Fri May 31, 2019 8:33 am
Forum: Investing - Theory, News & General
Topic: Does one need a bank account anymore?
Replies: 60
Views: 4292

Re: Does one need a bank account anymore?

sjt wrote:
Fri May 31, 2019 8:31 am
Seems that the only reason I find to have a local bank is to cash in your EE savings bonds.
It's also convenient for depositing cash.