Search found 279 matches

by kmurp
Wed Jun 03, 2015 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Whole life question about additional paid up insurance
Replies: 40
Views: 7128

Re: Whole life question about additional paid up insurance

Thanks for the information. I just ordered the book.
by kmurp
Tue Jun 02, 2015 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Whole life question about additional paid up insurance
Replies: 40
Views: 7128

Re: Whole life question about additional paid up insurance

At what point does it become undesirable to reinvest the policy dividends? With my policy and at my age, the dividends only buy around 65% of the paid up insurance that they originally bought.
by kmurp
Thu May 28, 2015 5:11 pm
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 33
Views: 5772

Re: Supreme Court rules in favor of 401k participants who object to high fees

This is what our 3(21) advisor told me last week. That 3(38) fiduciary is very expensive and not generally used by companies of our small size. In addition, our record keeper (Newport), communicated to me that they cannot provide this service for us. I am left wondering if we could get away without ...
by kmurp
Tue May 19, 2015 6:08 pm
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 33
Views: 5772

Re: Supreme Court rules in favor of 401k participants who object to high fees

kmurp, a couple months ago, you wrote on this forum in another thread: We have a small company with an ERISA retirement plan. We allow anyone to go outside the plan via a "brokerage window" but also offer an internal group of mutual funds. Most of the funds are active and the plan gets some of thes...
by kmurp
Tue May 19, 2015 3:55 pm
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 33
Views: 5772

Re: Supreme Court rules in favor of 401k participants who object to high fees

Well if revenue sharing will be a target for lawsuits, I would guess a majority of pension plans (defined contribution ) will lose lawsuits. I would imagine that our small business would simply close down our plan Why? transparency generates economic efficiency. We already contribute 20% of salary ...
by kmurp
Tue May 19, 2015 2:23 pm
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 33
Views: 5772

Re: Supreme Court rules in favor of 401k participants who object to high fees

Well if revenue sharing will be a target for lawsuits, I would guess a majority of pension plans (defined contribution ) will lose lawsuits. I would imagine that our small business would simply close down our plan Why? transparency generates economic efficiency. We already contribute 20% of salary ...
by kmurp
Tue May 19, 2015 10:36 am
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 33
Views: 5772

Re: Supreme Court rules in favor of 401k participants who object to high fees

Well if revenue sharing will be a target for lawsuits, I would guess a majority of pension plans (defined contribution ) will lose lawsuits. I would imagine that our small business would simply close down our plan
by kmurp
Tue May 19, 2015 9:25 am
Forum: Investing - Help with Personal Investments
Topic: Time to reach 1M and 2M milestones
Replies: 171
Views: 55761

Re: Time to reach 1M and 2M milestones

Hit 1,000,000 in 1999 after 12 years of work. Did not hit 2,000,000 until a few years ago so about another 12 years.
by kmurp
Tue May 19, 2015 9:12 am
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 33
Views: 5772

Re: Supreme Court rules in favor of 401k participants who object to high fees

Does this mean as trustees, we cannot offer actively managed mutual funds? Or can we do so as long as we offer a menu of low cost index funds as well? We offer total stock, total bond and total international as well as vanguard REIT, TIPS and convertibles. We do not offer index funds for small cap ,...
by kmurp
Mon May 18, 2015 10:52 am
Forum: Personal Finance (Not Investing)
Topic: How much does social security factor into your retirement income?
Replies: 169
Views: 26687

Re: How much does social security factor into your retirement income?

I'll be 58 this summer and will take SS at either FRA or age 70. I am planning 25-30% of our spending to come from SS. I do not expect means testing as, from what I have read, using it would not help the system significantly so the solution would need to come from other options.
by kmurp
Mon May 11, 2015 2:45 pm
Forum: Investing - Help with Personal Investments
Topic: Anybody 50/50?
Replies: 78
Views: 10219

Re: Anybody 50/50?

I started out at 50:50 in 1991. It kind of hurt me during that decade. I am now right around that number again, with 4-7 years to retirement.
by kmurp
Mon May 11, 2015 2:43 pm
Forum: Investing - Help with Personal Investments
Topic: Advisor: buy a nicer home pre-retirement
Replies: 31
Views: 4186

Re: Advisor: buy a nicer home pre-retirement

We would not want a more expensive home where we live (upstate NY). A more expensive home here means much more in school and property taxes. We would actually like to see that number decrease in retirement. Also, in my area, at least with my home, the value has not quite kept up with the CPI since 1...
by kmurp
Wed May 06, 2015 4:07 pm
Forum: Investing - Theory, News & General
Topic: No money market/stable value - 401(k) plan creation
Replies: 9
Views: 988

Re: No money market/stable value - 401(k) plan creation

I think you would be breaching your fiduciary duty if you don't offer such a fund. You may have participants who wish to keep all of their savings in a cash instrument. We do in our plan. It's their business.
by kmurp
Sat Apr 04, 2015 4:46 am
Forum: Investing - Help with Personal Investments
Topic: Retiring Before Age 66
Replies: 21
Views: 4792

Re: Retiring Before Age 66

Would it be advisable to use money from a taxable investment account to fund an IRA and do yearly Roth conversions with that? You need earned income to contribute to an ira. Thanks. I was wondering if one could use earned income to spend and transfer existing taxable assets to an IRA and then conve...
by kmurp
Fri Apr 03, 2015 6:48 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring Before Age 66
Replies: 21
Views: 4792

Re: Retiring Before Age 66

Would it be advisable to use money from a taxable investment account to fund an IRA and do yearly Roth conversions with that?
by kmurp
Thu Mar 26, 2015 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: 401k Record Keeping Fee
Replies: 87
Views: 15329

Re: 401k Record Keeping Fee

My sentiment is that I'd prefer that a company pay those recordkeeping fees, since this is an employee benefit which has almost completely replaced defined benefit pension plans. This is the way things are going for working people; the "Boomers" will be the last generation to do better financially ...
by kmurp
Thu Mar 26, 2015 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: 401k Record Keeping Fee
Replies: 87
Views: 15329

Re: 401k Record Keeping Fee

We have a small company with an ERISA retirement plan. We allow anyone to go outside the plan via a "brokerage window" but also offer an internal group of mutual funds. Most of the funds are active and the plan gets some of these fees rebated to us to cover the cost of administration. We have an inv...
by kmurp
Thu Mar 26, 2015 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Receiving inheritance [incl. properties,] working on a plan
Replies: 22
Views: 3906

Re: Receiving inheritance [incl. properties,] working on a p

Perhaps this would be a good example of when to use Vanguards advisory service. You might want to consider that.
by kmurp
Sun Feb 08, 2015 7:02 am
Forum: Investing - Help with Personal Investments
Topic: Variable Life Values
Replies: 0
Views: 286

Variable Life Values

I have a Variable Life policy that I purchased roughly 20 years ago. The Current cash value is around $80,000 and the insurance value is roughly $250,000. Sadly, the inforce document that I recently requested indicates that both of these numbers correlate with a 0% return over the life of the policy...
by kmurp
Sun Jun 01, 2014 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Maximum retirement deferral for couple
Replies: 2
Views: 544

Maximum retirement deferral for couple

Couldn’t find this in a rather quick search so I thought I would ask: I contribute the maximum allowed by law annually to retirement through my job’s profit sharing plan. My wife is a nurse and participates in the hospitals defined contribution plan. I don’t think that she is maxing out though. I be...
by kmurp
Mon May 12, 2014 8:28 am
Forum: Personal Finance (Not Investing)
Topic: An easy way to save money: Avoid the $300,000 car.
Replies: 152
Views: 25758

Re: Cars and houses are not the same.

Don't buy too much house and don't buy too much car. Bogleheads: This quote is, of course, good advice. "Too much" of anything is bad. However, there is a fundamental difference between a house and a car: Houses appreciate and usually sell for a profit . Cars depreciate resulting in a loss. Big dif...
by kmurp
Sun May 11, 2014 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: CNBC - [Among millionaires, 4% are doctors]
Replies: 100
Views: 16138

Re: CNBC - [Among millionaires, 4% are doctors]

That's an awful story (above). In my practice, all physicians in their 50's or above have over 1 million in their retirement account. I don't know how much additional they have outside our retirement accounts, but it's significant. Our group has always put the maximum yearly amount in tax deferred a...
by kmurp
Tue Jan 21, 2014 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 937

Re: 529 Allocation Question

Hard to say. The great bond market crash has been predicted for 5 years now. I feel fine with Total Bond. I have been buying the last 5 years and will continue. The income stream has grown with new contributions and the increase in yield (the NAV declined but not by much, and I picked up shares wit...
by kmurp
Tue Jan 21, 2014 10:21 am
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 937

Re: 529 Allocation Question

Yes, I was kinda sad when I saw how much the market went up last year. I do know from personal experience that I would have been more sad had I lost 30% last year. I know someone who had that happen to them during the 2000 recession while their kids were in college. Not good.
by kmurp
Mon Jan 20, 2014 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: Too late for a 529?
Replies: 4
Views: 794

Re: Too late for a 529?

Florida so the lack of a state tax deduction with the contribution is wiped out. That said, any interest and capital gains are tax free so I would do it.
by kmurp
Mon Jan 20, 2014 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 937

Re: 529 Allocation Question

Thanks. In the NY529, the "income Portfolio" has 25% TIPS, so that's why I was wondering if just the "no yield" short term fund might be better. The kids are college age now so the age based option puts them in the "income" portfolio (25% TIPS, 25%, short term and 50% TBM fund ).
by kmurp
Sun Jan 19, 2014 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Allocation Question
Replies: 10
Views: 937

529 Allocation Question

I have two daughters in college at this time and have five more student-years to fund. I am currently in the Ny529 plan invested in the age based option which, for my girls age is 25% money market, 25% TIPS and 50% Total bond market. I lost a bit of money last year on this allocation (3% or so). Wou...
by kmurp
Tue Apr 09, 2013 3:21 pm
Forum: Personal Consumer Issues
Topic: Should I buy a car or get my current one repaired?
Replies: 23
Views: 2218

Re: Should I buy a car or get my current one repaired?

Wow. $650 seems cheap for all that work!
by kmurp
Mon Mar 18, 2013 10:38 am
Forum: Investing - Theory, News & General
Topic: POLL: Withdrawal Rates For Real Retirees
Replies: 79
Views: 7396

Re: POLL: Withdrawal Rates For Real Retirees

I'm afraid I find these low withdrawal rates depressing. Living off of 20k per year would be VERY difficult for me. Propert taxes alone are like 14k for me and healthcare will likely be what; another 10k? Not sure what my Medicare costs will be.
by kmurp
Sun Mar 17, 2013 9:22 am
Forum: Personal Finance (Not Investing)
Topic: 401(k) - Employees who want a better plan need your advice.
Replies: 25
Views: 3851

Re: 401(k) - Employees who want a better plan need your advi

Our company uses active management because the fees (some of them) are refunded to the company to help defray the overhead of the plan. That is something that I don't think we can overcome.
by kmurp
Wed May 09, 2012 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Medical practice buy-in
Replies: 43
Views: 7091

Re: Medical practice buy-in

The practice has an accountant. If it's a C-Corp, the accountant has been calculating the value of the property, plant and equipment all along. This is the number to use for that portion of the cost. Secondly, how are accounts receivable ownership handled? Do you have full rights to them now as you ...
by kmurp
Thu Apr 05, 2012 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: physician side income
Replies: 83
Views: 8451

Re: physician side income

The post above is why I mentioned my partner who does rental property. You can't make that kind of money by working more hours (though this guy does that as well ). I think the OP was looking for ideas like that which are outside the field of medicine. I know nothing about franchising but perhaps th...
by kmurp
Wed Apr 04, 2012 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: physician side income
Replies: 83
Views: 8451

Re: physician side income

One of my partners does real estate. Has 100 units with other investors and runs the property management company that manages them.
by kmurp
Thu Mar 29, 2012 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 33
Views: 5910

Re: Disability Insurance

Your future employer may pay for an individual as well as a group policy. Ours does.
by kmurp
Thu Mar 29, 2012 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of retiring but. . .
Replies: 38
Views: 3973

Re: Thinking of retiring but. . .

dad2000 wrote:
momar wrote:I would wait to see what happens with the ACA.
I agree. Too much is unknown right now.
Would the ACA provide coverage for retired persons below the Medicare age? Are you referring to the insurance exchanges? I have no idea what they would charge vs a currently available plan.
by kmurp
Tue Mar 27, 2012 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: New Jersey Real Estate (Property) Taxes
Replies: 7
Views: 970

Re: New Jersey Real Estate (Property) Taxes

We are not in NJ, but just had a 30% reduction in our assessment after an appeal. It cost us 2000 for a qualified appraisal and the lawyer gets 1/3 of the first year tax savings (or was it 20%). In any case, it was worth it.
by kmurp
Tue Mar 27, 2012 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else experience a gigantic loss in real estate?
Replies: 66
Views: 8575

Re: Anyone else experience a gigantic loss in real estate?

We (our medical group) bought a condo for our office in a new building next to the hospital in, I think 1991. We paid around 550k. It's currently on the market for 350K with no interest. We DId just get the tax assessment lowered. I didn't read the whole thread but I wonder how many people have a 3...
by kmurp
Tue Mar 27, 2012 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else experience a gigantic loss in real estate?
Replies: 66
Views: 8575

Re: Anyone else experience a gigantic loss in real estate?

We (our medical group) bought a condo for our office in a new building next to the hospital in, I think 1991. We paid around 550k. It's currently on the market for 350K with no interest. We DId just get the tax assessment lowered. I didn't read the whole thread but I wonder how many people have a 30...
by kmurp
Tue Mar 27, 2012 11:20 am
Forum: Personal Finance (Not Investing)
Topic: What is your 529 plan Asset Allocation?
Replies: 49
Views: 14507

Re: What is your 529 plan Asset Allocation?

Age Based option has allowed me to sleep well. I haven't had to "violate" the principle yet. That said, my age based option (which is pretty much out of the stock market now, has returned what the stock index fund did in the NY 529 program... no difference. Like I said though, I slept better. I know...
by kmurp
Thu Sep 29, 2011 4:12 pm
Forum: Investing - Theory, News & General
Topic: Ameriprise employees sue firm for lousy 401k choices
Replies: 74
Views: 10745

This is a bit worrisome

I'm trustee of a small company plan and we have mostly active management funds. The reason is that the funds rebate part of their fees to the company to offset (partially) the cost of running the plan. I did insist that we have a few Vanguard funds : Total stock, total bond and TIPS, so if someone w...
by kmurp
Wed Sep 07, 2011 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Hospital wont negotiate
Replies: 43
Views: 3896

Re: It was only a 25 minute hernia operation

This is how devalued medicine has become. It was only 25 miniutes because of technological advances, such as laporascopy. I suspect the poster wouldn't hesitate to spend $3,000 on a Caribbean vacation, cruise, or bedroom furniture set. Without knowing additional details, I can say that certain type...
by kmurp
Wed Jul 06, 2011 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Update on “best retirement state” : Georgia info
Replies: 17
Views: 2016

Unlimited income

Did I read this right? No income taxes at all up to unlimited income etc? I see the appeal to retirees but fail to see the fairness.
by kmurp
Sun Apr 17, 2011 7:34 pm
Forum: Personal Consumer Issues
Topic: TV in an unheated Vacation Home
Replies: 3
Views: 740

Thanks!

Sounds like it will be OK and the particular technology I choose is independent of this concern.
by kmurp
Sun Apr 17, 2011 7:08 pm
Forum: Personal Consumer Issues
Topic: TV in an unheated Vacation Home
Replies: 3
Views: 740

TV in an unheated Vacation Home

A question for the engineers (or anyone): I am going to purchase a flat screen for our home on a lake. This TV will likely be large and I don't want to move it back home each fall and the reverse in the spring. It will, therefore, be sitting in an unheated home in upstate NY all winter. Will this br...
by kmurp
Fri Apr 08, 2011 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Career Change - RN-NP vs. PA
Replies: 26
Views: 5391

"having been a C.R.N.A. for 30 years I have to agree with the other posts. Its a great career. However if you think you have a " backup" when things get "panicky". you are mistaken. Many rural hospitals have no anesthesiologist. Only C.R.N.A.s. We have a staff of 10 ,a mixed group-Docs and C.R.N.A.s...
by kmurp
Fri Mar 25, 2011 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Tail Insurance
Replies: 8
Views: 1678

Who should pay

I just left a private practice after 4 years there and joined a multi specialty group. The PP paid my tail and the new group will pay my tail whether I leave on my own or get canned. I think one should have the practices cover the tail...they'll be collecting money you brought in for a couple month...
by kmurp
Thu Mar 24, 2011 8:21 am
Forum: Personal Consumer Issues
Topic: Tankless Water Heaters/Their Economy
Replies: 21
Views: 3729

Hard Water

We were told by a supplier that they need soft water or they will be damaged. Lacking a water softener, we passed.
by kmurp
Sat Mar 12, 2011 4:58 pm
Forum: Investing - Theory, News & General
Topic: Blog Post on Physician Investing
Replies: 9
Views: 1960

WELL: I'M 53

I don't think I have enough to retire. Perhaps I'm overestimating my needs but more importantly I probably haven't saved enough. I've always done the max in tax deferred but failed to save enough in taxable accounts. In addition, I have a decidedly negative real return the last ten years. I estimate...
by kmurp
Mon Mar 07, 2011 4:24 pm
Forum: Investing - Theory, News & General
Topic: VTSAX
Replies: 2
Views: 805

VTSAX

As trustee of our small company retirement plan, I recently inquired about adding Vanguard Total Stock Market index fund Admiral shares to our fund menu. It would replace the investor shares that we currently have and would, I believe, work well for the participants due to the newer reduced investme...
by kmurp
Tue Jan 18, 2011 2:16 pm
Forum: Personal Consumer Issues
Topic: How long do you keep a car *Really*?
Replies: 148
Views: 23660

Cars

I am 53. I have owned 5 new cars in my life and one was only for a year (wreck). Gave my last new car (civic) to daughter and driving wifes' hand me down minivan.