Search found 5433 matches

by Sandtrap
Wed Jan 11, 2017 10:07 am
Forum: Investing - Help with Personal Investments
Topic: How to politely fire my financial advisor
Replies: 66
Views: 12062

Re: How to politely fire my financial advisor

It's not different from any other human relationship. If you intend to be polite you let the person know by an e-mail or a phone call what you intend and you say thank you for their help. If that creates a problem from their end then it may be their behavior will defeat your intentions, but that is...
by Sandtrap
Wed Jan 11, 2017 9:45 am
Forum: Investing - Help with Personal Investments
Topic: How to politely fire my financial advisor
Replies: 66
Views: 12062

Re: How to politely fire my financial advisor

We went to a Fidelity office to initiate a $1M fund transfer from UBS (who was taking 2% for each buy/sell transaction). Five minutes after the Fidelity rep submitted the transfer process, my wife's cell phone started ringing (it was the first time the advisor at UBS had ever called us - we had alw...
by Sandtrap
Tue Jan 10, 2017 10:16 pm
Forum: Investing - Help with Personal Investments
Topic: How to politely fire my financial advisor
Replies: 66
Views: 12062

Re: How to politely fire my financial advisor

Contact your new provide (Fidelity or Vanguard, which is getting too big...), give them a copy of your most recent statements with all your accounts, and they will transfer it over. Then send your former Financial Adviser a nice hand written thank you note for his assistance; no reason required. Ne...
by Sandtrap
Tue Jan 10, 2017 10:08 pm
Forum: Investing - Help with Personal Investments
Topic: What would you do with $30k at 30 years old?
Replies: 49
Views: 4594

Re: What would you do with $30k at 30 years old?

I have been in your shoes. General commercial contractor at that age. Licensed in 2 states. Built for the franchisees, Arbies, Little Caesars Pizza, etc, plus Food Courts, Commercial restorations in historic business districts. That is when I bought my lst rental and things went from there. I was bu...
by Sandtrap
Tue Jan 10, 2017 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to build passive income
Replies: 45
Views: 6785

Re: How to build passive income

"I'm curious about this too. Are there other options besides rental properties?" I'm open to anything that will generate the best passive income for me. My thinking is a rental property but I'm open to any suggestions (stocks, bonds, etc). Ok. Stocks and bond then. :) Buy index funds. Buy some with...
by Sandtrap
Tue Jan 10, 2017 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: How to build passive income
Replies: 45
Views: 6785

Re: How to build passive income

dbr wrote:Well, traditionally, especially on this forum, the discussion would be about how much to invest in stocks. If you are asking about this, is it me or you that is missing something obvious?
+1
:oops:
that's funny. Thanks.
by Sandtrap
Tue Jan 10, 2017 5:19 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie to Real Estate Investment?
Replies: 9
Views: 1141

Re: Newbie to Real Estate Investment?

You make money on the buy, not the sell. i.e., you have to buy really well at an amazing price. Are you prepared to do the work and have cash reserves for all problems? If this was easy work, and made loads of money, everyone would be rich. Almost Every remodel takes longer and costs more; plan for...
by Sandtrap
Tue Jan 10, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: How to build passive income
Replies: 45
Views: 6785

Re: How to build passive income

What is the best way for someone to build passive income with about $30,000 in cash savings that is 32 years old? I want to build wealth instead of getting the 1 percent interest in my saving account. I'm leaning toward a rental property. purchase a duplex, live in one, rent the other. purchase a t...
by Sandtrap
Tue Jan 10, 2017 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Do you really need 2.5 million to retire well?
Replies: 267
Views: 62007

Re: Do you really need 2.5 million to retire well?

Retirement with 3 pensions, 1 mil home paid off, and with a frugal lifestyle, in an extreme HCOL area ie: Hawaii = surviving. :confused

Retirement with 1 pension, 400k home paid off, and with a frugal lifestyle, in a very low LCOL area ie: Southwest = thriving. :sharebeer
by Sandtrap
Tue Jan 10, 2017 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

I was once a zookeeper.....And as such we did not put the bears next to the pigs or the big cats next to the birds. And of course You would most certainly not want them all in the same cage (don't use just one). As is the same with your options. Where to put the big cat/retirement and Where to put ...
by Sandtrap
Tue Jan 10, 2017 3:36 pm
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Here are my *opinions.* (I had accounts at Vanguard and Fidelity at the same time for about eight years, and I've had an account at Schwab). I constantly fight the urge to tinker, to fiddle, to tweak, to optimize, to do something . Even though I'm very skeptical about many things, of course I read ...
by Sandtrap
Mon Jan 09, 2017 6:41 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie to Real Estate Investment?
Replies: 9
Views: 1141

Re: Newbie to Real Estate Investment?

I am very new at investing and looking to earn a second income. I have been approve for financing to buy an investment property aside from my own home. But the way it looks, I am not going to make any money off of the deal. I estimated the following: 180k finance from bank with 6% interest rate mon...
by Sandtrap
Mon Jan 09, 2017 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 158
Views: 24009

Re: Best Financial Moves You've Made

Never borrow money for anything. (including cars and homes)
Pay cash for everything.
Old fashioned self-sufficiency == Never lend "anything", never "borrow" anything".
Avoid debt.
Avoid bad influences.
Live frugally -- find happiness in what can't be bought.
Always lay-up on short par 4's. :sharebeer
by Sandtrap
Mon Jan 09, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 9166

Re: Doctors and retirement

arsenalfan wrote:Comparison can cause much unhappiness.
+1
by Sandtrap
Sun Jan 08, 2017 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Re: Problem: Electronic transfer limits. Also: portfolio advice.

Just this morning I moved 6 figures from my regional midwestern bank to Vanguard, doing what goingup suggested above. Works every time. +1. Works! Used it at both Vanguard and Fidelity. Once setup then Vanguard or Fido does the work. I do everything in my power to avoid dealing with banks. +1 Schwa...
by Sandtrap
Sun Jan 08, 2017 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Help for friend
Replies: 8
Views: 1153

Re: Help for friend

BolderBoy wrote:
brownsfan2k5 wrote:I can get a 25K home equity loan...
Can't borrow his way out of debt.
+1
by Sandtrap
Sun Jan 08, 2017 7:55 pm
Forum: Personal Consumer Issues
Topic: Protecting information on cell phone
Replies: 10
Views: 1361

Re: Protecting information on cell phone

buccimane wrote:FWIW, if you're nearing the end of a phone contact, iOS is widely considered more secure than Android
+1
Recently switched from an old Android to Iphone7plus. Installed "OneSafe" for passwords which syncs to my MacBook Pro.
by Sandtrap
Sun Jan 08, 2017 7:51 pm
Forum: Personal Consumer Issues
Topic: Should I ask this contractor to lower his quote?
Replies: 13
Views: 1934

Re: Should I ask this contractor to lower his quote?

The work is walling off a currently open-access space to create a new reasonably soundproof bedroom. The open-access space currently has two accesses. The first contractor, whom I have decided to work with, gave a quote for walling off one of the accesses, and placing double doors in the other acce...
by Sandtrap
Sun Jan 08, 2017 7:34 pm
Forum: Personal Consumer Issues
Topic: Do I need to replace my desktop PC?
Replies: 27
Views: 2902

Re: Do I need to replace my desktop PC?

Someone suggested that Windows 7 may be less secure than Windows 10. I've seen no evidence of that. On the contrary, I wouldn't be surprised if the opposite is true. For many consumers running Windows 10, MS has introduced some "improvements" like peer-to-peer updating and automatic updating of app...
by Sandtrap
Sun Jan 08, 2017 7:31 pm
Forum: Personal Consumer Issues
Topic: Do I need to replace my desktop PC?
Replies: 27
Views: 2902

Re: Do I need to replace my desktop PC?

I use my desktop PC almost exclusively for preparing tax returns every year. Most of the rest of the year I carry around a laptop. The desktop is certainly older than my laptop, probably purchased in 2009, a Dell Studio 540. It's running Windows 7 Home Premium 64 bit, with 6 GB of memory. It's got ...
by Sandtrap
Sun Jan 08, 2017 6:57 pm
Forum: Personal Consumer Issues
Topic: Bedroom is colder than rest of house. Radiator heating question.
Replies: 70
Views: 5843

Re: Bedroom is colder than rest of house. Radiator heating question.

how much insulation do you have above the second story? and its sides? i wouldn't mess with another loop, i would just have a bigger radiator installed int he bedroom. (if it isn't an insulation problem). I was just checking the room for insulation. Believe it or not, there really is NO insulation....
by Sandtrap
Sun Jan 08, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Car for Teen next year...new vs used?
Replies: 50
Views: 4346

Re: Car for Teen next year...new vs used?

I'm not going to tell the story about washing dishes at the local Woolworth's Restaurant after school for $1.25/hour to pay for my lst car (junker), and also to buy car insurance and gas. :shock:
by Sandtrap
Sun Jan 08, 2017 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Help for friend
Replies: 8
Views: 1153

Re: Help for friend

I don't know your friend's exact situation on that bike other than the $4700 loan. Agree, it has to go unless it's the only method of transportation. But why isn't it selling? Price too high? Anything can sell at the right price. Condition? Lack of advertising? Try Craigs list? In a place where the...
by Sandtrap
Sun Jan 08, 2017 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Considering the services of a CFP
Replies: 36
Views: 2913

Re: Considering the services of a CFP

How about using vpas at 0.3%? The CFP you described above sounds reasonable, but 1% AUM fee seems quite high to me. +1 Consider Vanguard's PAS as temporary training wheels. OR Alternatively, or concurrently. . . . . Make the rounds. Get input and portfolio proposals from Schwab, Northern Trust, etc...
by Sandtrap
Sun Jan 08, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Is a prenup always necessary when remarrying?
Replies: 49
Views: 5089

Re: Is a prenup always necessary when remarrying?

Sharing >> Empowerment >> Entitlement == Human nature? Thus . . . prenup.. . . because the future and human nature are unpredictable. . . . and because there is, shouldn't be perceived as, nothing wrong with protecting yourself. Ethical decisions vs Pragmatic decisions . . . . tough. Thank goodness ...
by Sandtrap
Sat Jan 07, 2017 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 9166

Re: Doctors and retirement

One thing to consider here is that physicians rarely have pensions. What is the cash value of a COLA'd government pension with generous health care benefits? Pensions are rare in private sector jobs period. Yes. Is it more common that those in professional private sector jobs work at a chosen caree...
by Sandtrap
Sat Jan 07, 2017 6:15 pm
Forum: Personal Consumer Issues
Topic: Best printers for home use
Replies: 67
Views: 8002

Re: Best printers for home use

2 HP 1020 Laserjets in our home office. Runs forever. Print costs per sheet very very low. Toner lasts forever. 1 HP LaserJet Pro with scanner bed. Runs forever. High speed. Low costs. 2 Canon Pro Photo printers for commercial photo studio proofing. 1 HP OfficeJet for scanning docs into pdf files. (...
by Sandtrap
Sat Jan 07, 2017 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 7710

Re: What monetary value has your education provided you?

I was reluctant to post, but maybe there are others who were not fortunate enough to get a college degree. If so, it's not the end of the world. There are plenty of opportunities out there for you. I was not able to get a degree because of a learning disability. I thought I was a complete failure. ...
by Sandtrap
Sat Jan 07, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Is a prenup always necessary when remarrying?
Replies: 49
Views: 5089

Re: Is a prenup always necessary when remarrying?

I am divorced and own a house and some investment accounts. My fiancee doesn't have much in assets (he really got cleaned out in his divorce, but is on a good path). If all my accounts are in my name and my house is also in my name, do I need a prenup? I live in Virginia and it looks like these ass...
by Sandtrap
Sat Jan 07, 2017 2:23 pm
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

I have accounts at both Vanguard and Schwab with about 70% of my investments at Vanguard and 30% at Schwab. I do not duplicate funds or portfolios although there is some overlap. Over the last 4 years I have worked to simplify my investments and consolidate holdings. But I decided to keep the Schwa...
by Sandtrap
Sat Jan 07, 2017 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Asset location is more of a tax issue, as far as the link above. Could also be used to spread your assets, though having retirement and taxable in two locations may not spread them evenly. Does that mean that having one portfolio in one location that is more favorably tax advantaged and another por...
by Sandtrap
Sat Jan 07, 2017 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Asset location is more of a tax issue, as far as the link above. Could also be used to spread your assets, though having retirement and taxable in two locations may not spread them evenly. Thanks for the help. Does that mean that having one portfolio in one location that is more favorably tax advan...
by Sandtrap
Sat Jan 07, 2017 10:44 am
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Call_Me_Op wrote:I would stick with two accounts.
Thanks for the response.

Why? :confused
by Sandtrap
Fri Jan 06, 2017 8:15 pm
Forum: Personal Consumer Issues
Topic: Learning Instrument/Violin as an adult...2 Years Later
Replies: 201
Views: 30489

Re: Learning an instrument as an adult?

I tried learning acoustic guitar a few years ago. I took 6 months of lessons and found it incredibly difficult. As another poster said, it was tough to find the time to practice with a job and family. It only increased my admiration and respect for musicians who make it look so easy. I love listeni...
by Sandtrap
Fri Jan 06, 2017 7:17 pm
Forum: Personal Consumer Issues
Topic: Getting rid of mice
Replies: 94
Views: 7994

Re: Getting rid of mice

Get a cat :happy Cats aren't really a solution to rodents. Rodents live in the walls and attics where cats can't get at them. While the cats may kill a few that stray into the living space, they are unlikely to take care of all of them. Yes, we have two cats and we've never had any mice in our livi...
by Sandtrap
Fri Jan 06, 2017 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 7710

Re: What monetary value has your education provided you?

Also, what monetary value has been lost by an education path not taken?

Pre-Med scholarship not taken ? Maybe huge loss$$

Finance - economics degree/double major literature instead. Comparative gain? Unknown.
by Sandtrap
Fri Jan 06, 2017 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Re: Problem: Electronic transfer limits. Also: portfolio advice.

Please explain "pull it via ACH" ?? Google is your friend: ACH - Google Search . Basically you can think of ACH as electronic funds transfer, and "pull" means to initiate the transaction at the receiving financial institution, in this case Vanguard. Low transfer limits for outgoing transfers initat...
by Sandtrap
Fri Jan 06, 2017 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Re: Problem: Electronic transfer limits. Also: portfolio advice.

I've never hit limits pulling in (via ACH) to Vanguard from brick and mortar bank. As mentioned above PULL from your Vanguard account to your linked bank account. That means you initiate the transaction at Vanguard. Okay. Thanks so much for the help everyone. I was on the phone (again) with Vanguar...
by Sandtrap
Fri Jan 06, 2017 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Re: Problem: Electronic transfer limits. Also: portfolio advice.

CyberBob wrote:You don't transfer it from your bank, you give Vanguard your account info and let them pull it via ACH.
Thanks for the help.

Are there limits to the transfer If I do it on the Vanguard site?

Please explain "pull it via ACH" ??

Thanks again.
by Sandtrap
Fri Jan 06, 2017 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Re: Problem: Electronic transfer limits. Also: portfolio advice.

[/quote] How about wiring the money? I'm not sure if we've encountered the limits you are mentioning (did you speak with someone about this? are they new accounts?), but we definitely have never had difficulty wiring much larger amounts for things like real estate purchases. (But it's nothing like i...
by Sandtrap
Fri Jan 06, 2017 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Re: Problem: Electronic transfer limits. Also: portfolio advice.

BOH? FHB? Can you spell out their names? Ally Bank allows up to $150k transfer out per day and $600k per month. If the amount is larger, a wire transfer will work better. Ally charges a very modest amount of $20 per outgoing wire transfer and nothing for incoming wires. If you can get wire transfer...
by Sandtrap
Fri Jan 06, 2017 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 1719

Problem: Electronic transfer limits. Also: portfolio advice.

Thank you to everyone for helping me set up with Vanguard. I have linked my (prior residence) banks as well as local, IE: FHB, BOH, Chase, etc. but have now found out that there are amount limits to electronic transfers to accounts outside of the bank. First H'wn Bank and BOH, Chase, have similar, $...
by Sandtrap
Fri Jan 06, 2017 11:46 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 3393

Re: How to approach getting new wills, trusts, with a blended family

You and your wife would have Wills with marital and credit shelter trusts, and trusts for the children. That way, you can each provide for the children in whatever way you want. Each child's share would be in a separate trust for his or her own benefit, to keep their inheritances out of their estat...
by Sandtrap
Fri Jan 06, 2017 11:42 am
Forum: Personal Consumer Issues
Topic: Running electrical wire (Romex) on outside of house without conduit. Allowed?
Replies: 29
Views: 16485

Re: Running electrical wire (Romex) on outside of house without conduit. Allowed?

Welcome to my world, where hindsight is always 20/20. Looking back, you might wish you'd said, "You know, let's put that in conduit. In fact, if I have to run it once chances are I'll have to run another one again, so make that conduit large enough for another wire or two. Better yet, leave a pull ...
by Sandtrap
Fri Jan 06, 2017 11:35 am
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Thanks so much.
This is exactly what I needed to learn next.
Homework.
Will get right on it.
by Sandtrap
Thu Jan 05, 2017 5:02 pm
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Re: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Congratulations on the 3-fund portfolio. I'm a fan of simplicity as well (though I do have a bit of $ in REITs and TIPS). One advantage of such a plan is having your money spread over 2 financial institutions. In my opinion, this is as important as holding a diversity of asset classes in one's port...
by Sandtrap
Thu Jan 05, 2017 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?
Replies: 26
Views: 3510

Pros and cons of having a 3 fund portfolio at Schwab and another at Vanguard?

Newly retired. Married. Age 63. No pension. No debt. Own home. Zero liabilities. LCOL state. 4-6 mil in liquid savings (after tax) from business sale. What are the advantages and/or disadvantages of having a 3 fund portfolio at Schwab and another at Vanguard? Is it uselessly redundant? Does it add a...
by Sandtrap
Thu Jan 05, 2017 10:49 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 3393

Re: How to approach getting new wills, trusts, with a blended family

Trusts are usually (if not always) recommended for high net worth blended families and situations where some exercise of control "beyond the grave" is advisable. I agree with early out that the starting point is an agreement with your wife. I also recommend Beyond the Grave . It is as much about fa...
by Sandtrap
Thu Jan 05, 2017 10:42 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 3393

Re: How to approach getting new wills, trusts, with a blended family

Regarding "legal counsel". "Drive though window, hamburger hotdog, boilerplate, fill in the blank (software)" trusts are the bread n butter of many trust attorneys and firms. Also includes a very nice looking binder with dividers. Also may include home visits and home notarizing for your convenience...
by Sandtrap
Thu Jan 05, 2017 8:54 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 3393

Re: How to approach getting new wills, trusts, with a blended family

Read and reread: "Beyond The Grave" by Gerald M. Condon "Wills, Trusts, and Estates" by Gerry W. Beyer Consider a "Bypass" or "Credit Shelter Trust", not only for tax benefits but, more importantly, adapt to the dynamics of "blended" families. Research various methods and/or trust provisions for "un...