Search found 6374 matches

by Fallible
Sat Mar 17, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Techniques in helping other with poor money skills
Replies: 27
Views: 2657

Re: Techniques in helping other with poor money skills

You should set a good example and offer advice only if asked or if you are financially responsible for that person. You might give an appropriate book but even that can be taken the wrong way by someone who isn't receptive. Be very careful of offering advice that can be seen as criticism if you val...
by Fallible
Fri Mar 16, 2018 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Rebalancing
Replies: 11
Views: 913

Re: Rebalancing

My Vanguard advisor is very adamant about my rebalancing my investments to 50% stocks and 50% bonds. She brought this to my attention on Monday and I have to decide by tomorrow. I turned 70 in December, am semi retired, and not sure when I will retire completely. I don't understand the urgency. Is ...
by Fallible
Sun Mar 11, 2018 2:23 pm
Forum: Personal Consumer Issues
Topic: Books that have actually changed your life, in a way.
Replies: 172
Views: 19546

Re: Books that have actually changed your life, in a way.

This may sound facetious but perhaps the "books" with the biggest influence on me were comic books! When I was very young I was having great difficulty with reading and therefore hated it -- until I found comic books. These were primarily the Walt Disney Duck comics: Donald Duck, Uncle Scrooge, Com...
by Fallible
Fri Mar 09, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Why (or why not) use an advisor
Replies: 42
Views: 2531

Re: Why (or why not) use an advisor

Warren Buffet has spoken out on this topic...and his comments really struck me. To quote the New York Times, quoting Buffet: In his letter, Mr. Buffett offered an unusually cogent, honest and blunt appraisal of the human behavior that drives individuals with money to avoid index funds — and their w...
by Fallible
Thu Mar 08, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Why (or why not) use an advisor
Replies: 42
Views: 2531

Re: Why (or why not) use an advisor

... I understand some people simply want someone else to handle their money and that's OK, but that person is still stuck with the responsibility that any employer has of evaluating performance vs what's being paid for the service. Paul Agree this is a major concern. Also, good advisors are not eas...
by Fallible
Thu Mar 08, 2018 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Why (or why not) use an advisor
Replies: 42
Views: 2531

Re: Why (or why not) use an advisor

Hi Everyone, I've been enjoying reading through the forum to learn more about investing and financial advice. I'm trying to get smart about this space and have a few questions that I'd love opinions on I see a lot of discussion on the forum on the pros and cons of advisors. For those of you who don...
by Fallible
Wed Mar 07, 2018 7:11 pm
Forum: Investing - Help with Personal Investments
Topic: Ok fellow bogleheads, was the correction scary or nothing?
Replies: 147
Views: 11905

Re: Ok fellow bogleheads, was the correction scary or nothing?

... ... why even talk about risk tolerance if there is no method of gauging it until after the fact? .. Risk tolerance is about emotions - emotions such as fear and greed that can rule the markets. And it's about individual emotions, your own unique emotions. Investors need to understand their emot...
by Fallible
Wed Mar 07, 2018 4:54 pm
Forum: Investing - Help with Personal Investments
Topic: Ok fellow bogleheads, was the correction scary or nothing?
Replies: 147
Views: 11905

Re: Ok fellow bogelheads, was the correction scary or nothing?

... I'm sure I will see worse, I just would like to at least put a toe in the water of market drops to make sure I will have an idea how I will react when the next great recession sweeps in. To be honest I'm kind of surprised and a bit disappointed with the responses. (Responses not the people resp...
by Fallible
Wed Mar 07, 2018 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: Ok fellow bogleheads, was the correction scary or nothing?
Replies: 147
Views: 11905

Re: Ok fellow boggelheads, was the correction earlier this year scary?

As I said it's the first time that I have "lost" money since I started and I'm trying to get a feel for where this lies on the scale from yawn to white knuckle. It was also the first time that my account balances went down. Which I suppose should make me happy that I finally have enough money in my...
by Fallible
Wed Mar 07, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: What is your investment strength?
Replies: 70
Views: 5856

Re: What is your investment strength?

Whatever led me to switch from active management to John Bogle and low-cost indexing in the late '80s may have been my strength in investing, but I'm not certain what to call it. I remember being skeptical of the stockbroker, which led to questioning, then reading and learning more about investing, ...
by Fallible
Wed Mar 07, 2018 12:12 pm
Forum: Investing - Theory, News & General
Topic: Boglehead contradiction, constant asset allocation is market timing
Replies: 100
Views: 9653

Re: Boglehead contradiction, constant asset allocation is market timing

... I personally have a difficult time selling any of my investments. My investments are 50% in Vanguard REIT fund, and have been for many years. I now know that this REIT allocation is higher than what almost everyone recommends, but I still feel some strong desire to not deviate from my "buy and ...
by Fallible
Tue Mar 06, 2018 8:56 am
Forum: Investing - Help with Personal Investments
Topic: 14yr old son wants to invest
Replies: 20
Views: 1682

Re: 14yr old son wants to invest

My 14yr old son has $1000 and wants to start investing. Looking for any advice. Index fund vs ETF vs Berkshire B stock. I know BRKB isn't an index fund but he is enamored with Warren Buffett (not a bad investment role model) . Thanks Buffett can be a good role model, assuming it's for the right rea...
by Fallible
Mon Mar 05, 2018 11:59 am
Forum: Personal Consumer Issues
Topic: Learning Violin as an adult...1.5 years later
Replies: 197
Views: 28455

Re: Learning Violin as an adult...Entering Month 15

Thanks for the update. Your hard work is paying off. You mention the advantages of playing with your teacher, so have you been able to play with a group yet?
by Fallible
Sun Mar 04, 2018 1:25 pm
Forum: Investing - Theory, News & General
Topic: "Making a Difference" by Jonathan Clements
Replies: 29
Views: 3618

Re: "Making a Difference" by Jonathan Clements

I think you're right about his point when you said "Don't expect the stock market to save you if you get the other big things wrong — like spending too much and saving too little." Thanks for your take on this. I've come to the realization at this later stage in life that I think "differently" than...
by Fallible
Sat Mar 03, 2018 9:12 pm
Forum: Investing - Theory, News & General
Topic: "Making a Difference" by Jonathan Clements
Replies: 29
Views: 3618

Re: "Making a Difference" by Jonathan Clements

What is the contradiction? I may reading it wrong, but I don't see one. The phrasing is unfortunate. First, we have this statement used to make the point that you should capture the market returns — nothing more, nothing less: The undeniable lesson: It’s the markets that will make you rich. Unfortu...
by Fallible
Sat Mar 03, 2018 5:51 pm
Forum: Investing - Theory, News & General
Topic: "Making a Difference" by Jonathan Clements
Replies: 29
Views: 3618

Re: "Making a Difference" by Jonathan Clements

Not bad, but could use a little work. The undeniable lesson: It’s the markets that will make you rich. That will not necessarily happen, and he later states that other financial decisions may be more important than investing and that being rich isn't the goal anyway. Well, that's taken a bit out of...
by Fallible
Thu Mar 01, 2018 10:52 pm
Forum: Investing - Theory, News & General
Topic: Boglehead contradiction, constant asset allocation is market timing
Replies: 100
Views: 9653

Re: Boglehead contradiction, constant asset allocation is market timing

Market timing is doing something based on what you think is going to happen. Rebalancing is responding to what has already happened. -Market timing is essentially predicting what the market will do (and then investing based on the prediction); -Rebalancing is reacting to what the market has done (a...
by Fallible
Thu Mar 01, 2018 8:15 pm
Forum: Forum Issues and Administration
Topic: Extreme views, kite flying and benchmarking
Replies: 6
Views: 1221

Re: Extreme views, kite flying and benchmarking

One of the nice things about this website is there is a wide range of opinions on most topics. Largely these are related to the poster's background, experience, and personal preference and circumstance. Take asset allocation. Some are 100% stocks. Others are 100% stocks and purchasing with margin. ...
by Fallible
Thu Mar 01, 2018 2:50 pm
Forum: Investing - Theory, News & General
Topic: Boglehead contradiction, constant asset allocation is market timing
Replies: 100
Views: 9653

Re: Boglehead contradiction, constant asset allocation is market timing

-Market timing is essentially predicting what the market will do (and then investing based on the prediction); -Rebalancing is reacting to what the market has done (and then maintaining the preset allocation). Well stated. This is exactly my feeling also... Thanks. From some other posts here, the i...
by Fallible
Wed Feb 28, 2018 12:45 pm
Forum: Investing - Theory, News & General
Topic: Boglehead contradiction, constant asset allocation is market timing
Replies: 100
Views: 9653

Re: Boglehead contradiction, constant asset allocation is market timing

Here's what I consider a serviceable definition of the market timing we are cautioned to avoid: DEFINITION of 'Market Timing' Market timing is the act of moving in and out of the market or switching between asset classes based on using predictive methods such as technical indicators or economic dat...
by Fallible
Wed Feb 28, 2018 11:43 am
Forum: Investing - Theory, News & General
Topic: Boglehead contradiction, constant asset allocation is market timing
Replies: 100
Views: 9653

Re: Boglehead contradiction, constant asset allocation is market timing

I am trying to understand these apparently contradictory ideas which both seem to be widely accepted. Idea 1: It is impossible to time the market Idea 2: You should periodically rebalance to maintain your asset allocation. This is said to maintain a constant level of risk, but is also said to have ...
by Fallible
Tue Feb 27, 2018 6:28 pm
Forum: Investing - Theory, News & General
Topic: Blasphemy... DO PEEK!
Replies: 100
Views: 10276

Re: Blasphemy... DO PEEK!

I propose a different approach. If you are armed with knowledge and logic, daily swings in the market will not phase you. More importantly, I believe that growing accustomed to the daily swings in the market will harden you for more robust corrections in the future . I suspect that most people woul...
by Fallible
Tue Feb 27, 2018 12:43 pm
Forum: Personal Consumer Issues
Topic: Question for older bicyclist, coming back from injury
Replies: 42
Views: 2791

Re: Question for older bicyclist, coming back from injury

Apart from following the advice of your physician and your physical therapist (if used) it's the same old story as falling off a horse, the best cure to overcome fear is to get back on. It probably doesn't matter if it's a bike accident, a sidewalk slip and fall, or even an auto accident. We have t...
by Fallible
Mon Feb 26, 2018 11:01 pm
Forum: Personal Consumer Issues
Topic: Strategies for getting out of a car dealership quickly?
Replies: 78
Views: 7715

Re: Strategies for getting out of a car dealership quickly?

You don't need a toddler, a teenager or anything else. Just say I changed my mind, I don't want the extended warranty and it's not open for discussion. Thank you. End of story. I really don't understand why that is so difficult. ... I agree it should be that simple (besides just saying NO), but a v...
by Fallible
Mon Feb 26, 2018 6:33 pm
Forum: Investing - Theory, News & General
Topic: Blasphemy... DO PEEK!
Replies: 100
Views: 10276

Re: Blasphemy... DO PEEK!

Risk tolerance is acquired, it is NOT innate. Actually, risk tolerance probably is both nature and nurture and much has been written about it. Yes, fair enough. I didn't word it right. What drives me crazy is to see people assuming that risk tolerance is a constant, over the entire lifetime of an i...
by Fallible
Mon Feb 26, 2018 6:16 pm
Forum: Personal Consumer Issues
Topic: Strategies for getting out of a car dealership quickly?
Replies: 78
Views: 7715

Re: Strategies for getting out of a car dealership quickly?

Here's an article from bankrate.com on canceling warranties. First, know your rights, then be firm. https://www.bankrate.com/auto/should-you-break-an-extended-car-warranty/ Btw, I got the warranty pitch when I bought a used car last year. I politely said no, no, no, no, and no. The friendly salesman...
by Fallible
Mon Feb 26, 2018 4:39 pm
Forum: Investing - Theory, News & General
Topic: Blasphemy... DO PEEK!
Replies: 100
Views: 10276

Re: Blasphemy... DO PEEK!

I’m sure it’s not meant to be taken literally. I agree with you that Jack tends to express positions which are much more flexible than what is often asserted on this forum, or that his quotes are often taken out of context. In this particular case, having listened to him explain the matter, I am no...
by Fallible
Mon Feb 26, 2018 4:20 pm
Forum: Investing - Theory, News & General
Topic: Blasphemy... DO PEEK!
Replies: 100
Views: 10276

Re: Blasphemy... DO PEEK!

I was browsing through this excellent blog article from a self-described " couple of engineers with a passion for investing ": The Basics of Behavioral Finance: Tips and Tricks to Combat Your Cave Man Brain And one point made me strongly react. FINALLY somebody who articulated what I've been practi...
by Fallible
Tue Feb 20, 2018 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

... I'm not sure on the loophole. (but I'll express an opinion anyway) I "think" that only retirement accounts are required to be to a fiduciary standard. That was was the Fast eddie guy explained last year w/my MIL. So those accounts in taxable are free game. Here's the BH wiki page on "Investment...
by Fallible
Tue Feb 20, 2018 8:16 pm
Forum: Investing - Theory, News & General
Topic: Staying Motivated: How do you ward off hopelessness?
Replies: 59
Views: 8005

Re: Staying Motivated: How do you ward off hopelessness?

Bogleheads....A question for this group. How do you deal with 'flagging motivation', or a sense that your financial goal is insurmountable, and cannot be achieved? Or dealing with the feeling that no matter how hard you try, it might be hopeless? ... Is the motivation just about your financial goal...
by Fallible
Tue Feb 20, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

I'm not adverse to a free steak dinner and I can see through most scams pretty quickly. However, the reason I don't go to these things is that they are always depressing to me. First, there are the others in the audience who through fear, greed (or too much steak!) will sometimes fall for these thi...
by Fallible
Mon Feb 19, 2018 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

I started this thread with the question for a friend, but now I've received an invitation (Same Ruth's Chris) and I'm temped to go because there is a new twist. ... It's time to receive a second opinion from a fiduciary. Jim and Dan provide advice in their capacities as Fiduciaries. A fiduciary has...
by Fallible
Mon Feb 19, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

I started this thread with the question for a friend, but now I've received an invitation (Same Ruth's Chris) and I'm temped to go because there is a new twist. ... It's time to receive a second opinion from a fiduciary. Jim and Dan provide advice in their capacities as Fiduciaries. A fiduciary has...
by Fallible
Mon Feb 19, 2018 6:42 pm
Forum: Investing - Theory, News & General
Topic: First Hand Look at Complexity
Replies: 6
Views: 788

Re: First Hand Look at Complexity

Due to family squabbles a relative now has fiduciary handling its money. Uncomfortable with making investment choices they had the account which was already at a brokerage become managed by their advisors. I saw the first statement and the AA was bit aggressive but ok for the age of the person. Wha...
by Fallible
Mon Feb 19, 2018 4:34 pm
Forum: Investing - Theory, News & General
Topic: What seems to matter
Replies: 25
Views: 4042

Re: What seems to matter

Thanks for an excellent list of what matters. The last line sums it up nicely:

"Doing simple things very well can often take you further than trying to do complex things less well."
by Fallible
Sat Feb 17, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

I can't believe how uptight you folks are. Do you think that you will be locked in a room and held hostage until you agree to meet with the salesperson?... The concern is for folks who go into these seminars vulnerable to sales pitches because they are poorly informed about investing and investing ...
by Fallible
Sat Feb 17, 2018 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: What has been your most important skill in achieving financial independence?
Replies: 164
Views: 12621

Re: What has been your most important skill in achieving financial independence?

I'm 22 years old, beginning my career and I'm curious to hear from other people closer to financial independence what have been some of the most important "non-financial" skills they attribute to their FI.... Curiosity and a love of learning (probably more traits than acquired skills) were among ba...
by Fallible
Fri Feb 16, 2018 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

... This pitch was "retirement planning" (really just financial planning). ... The didn't indicate specific fees, but I'm guessing that it would be a typical x% of AUM and their commissions on any insurance products. ... I wouldn't expect them to announce their fees and costs without being asked. D...
by Fallible
Fri Feb 16, 2018 3:06 pm
Forum: Investing - Theory, News & General
Topic: How Not to Get Rich - Mark Twain
Replies: 17
Views: 3796

Re: How Not to Get Rich - Mark Twain

By the end of his life, Twain seemed to understsnd his problem - and humanity's:
When you remember we are all mad, the mysteries disappear and life stands explained.
by Fallible
Wed Feb 14, 2018 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

Here's a FINRA (Financial Industry Regulatory Authority) alert posted a few years ago on free seminars: Investor Alerts "Free Lunch" Investment Seminars—Avoiding the Heartburn of a Hard Sell Investors frequently get invited to free seminars that promise to educate them about investing strategies or ...
by Fallible
Tue Feb 13, 2018 3:03 pm
Forum: Investing - Theory, News & General
Topic: Help me get my friends started
Replies: 6
Views: 709

Re: Help me get my friends started

Welcome and congratulations to you and your husband for getting off to a great start! Books and a wiki page I've recommended (after being asked!) to young relatives are William Bernstein's "If You Can," and the "Getting Started" page in the Bogleheads' wiki. https://www.etf.com/docs/IfYouCan.pdf htt...
by Fallible
Tue Feb 13, 2018 1:50 pm
Forum: Investing - Theory, News & General
Topic: Day trading for a living/career?
Replies: 95
Views: 8227

Re: Day trading for a living/career?

I guess you could say my husband "day trades" for a career. Not to brag, but this is his profile: - Graduate degree from MIT in computer science and math - 15 years of trading experience at major banks / investment houses - Support from whole teams of people who specialize in making sure he has the...
by Fallible
Tue Feb 13, 2018 1:35 pm
Forum: Investing - Help with Personal Investments
Topic: Did you learn anything from the market correction?
Replies: 160
Views: 13374

Re: Did you learn anything from the market correction?

After 30 years in the market beginning with the '87 crash, I doubt there is much more to learn about human behavior with money. It seemed even the best financial writers were a bit bored with the latest correction, maybe because it, or something, had been expected for so long.
by Fallible
Mon Feb 12, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27840

Re: free dinner investing seminar

DrGoogle2017 wrote:
Mon Feb 12, 2018 4:23 pm
I don’t like to eat steak anyway, so steak dinner is not that exciting to me, now if it’s a big free lobster dinner then I might entertain it.
For free lobster, I probably still wouldn't go, but I'd sure think hard about it. :-)
by Fallible
Sun Feb 11, 2018 11:53 pm
Forum: Investing - Theory, News & General
Topic: how did you determine your risk tolerance?
Replies: 138
Views: 8793

Re: how did you determine your risk tolerance?

These two paragraphs from Larry Swedroe's blog on willingness to take risk (risk tolerance) makes it clear that it is about understanding and controlling emotions. The first step in finding your willingness to take risk is to take what I refer to as the “stomach acid” test. Ask yourself this questio...
by Fallible
Sun Feb 11, 2018 9:31 pm
Forum: Investing - Theory, News & General
Topic: How does one emotionally keep it together during market swings?
Replies: 111
Views: 9541

Re: How does one emotionally keep it together during market swings?

... To those believing education is key are not completely correct. I believe it was Richard Thaler's co author on one of his books that wrote to him when the markets were shuddering saying he was getting jittery and was ready to pull out. I think Mr. Thaler's response was go re read the book we ju...
by Fallible
Sun Feb 11, 2018 7:22 pm
Forum: Investing - Theory, News & General
Topic: How does one emotionally keep it together during market swings?
Replies: 111
Views: 9541

Re: How does one emotionally keep it together during market swings?

thanks I just read some of your first posts on the forum which seem to show you are unusually well off for your age yet wrestle with substantial worries about the market. Here's one of those posts: "I have this fear like what if the markets go down and stay down. I'm very afraid of the system no lo...
by Fallible
Sun Feb 11, 2018 1:58 pm
Forum: Investing - Theory, News & General
Topic: how did you determine your risk tolerance?
Replies: 138
Views: 8793

Re: how did you determine your risk tolerance?

i just took vanguard's test: https://personal.vanguard.com/us/FundsInvQuestionnaire it's telling me to be 100% in stocks which i think it's absolutely insane. There is more information on the downsides to risk tolerance questionnaires and also links to Larry Swedroe's three blogs on need, ability, ...
by Fallible
Sat Feb 10, 2018 2:11 pm
Forum: Investing - Help with Personal Investments
Topic: Allegedly worst week since 2008: Time to revisit AA?
Replies: 10
Views: 1320

Re: Allegedly worst week since 2008: Time to revisit AA?

We are in mid 30s but have a 50/50 AA due to being pretty risk adverse and just for easy math. So far it's been working for us, but recent stock downturn has us thinking. I just read this could be the worst week since 2008. Back then we did have money in the market, but our net worth overall was ne...
by Fallible
Sat Feb 10, 2018 1:36 pm
Forum: Investing - Theory, News & General
Topic: Day trading for a living/career?
Replies: 95
Views: 8227

Re: Day trading for a living/career?

... My question for this thread stems from, I have the opportunity to meet and speak with a successful day trader who makes his living doing this. ... I think with an aggressive learning period and watching and l earning from someone who is successful at it , one could possibly have a shot to be a ...