Search found 7463 matches

by tadamsmar
Wed Nov 15, 2017 8:48 am
Forum: Personal Finance (Not Investing)
Topic: POAs vs brokerage reimbursement guarantees
Replies: 5
Views: 538

Re: POAs vs brokerage reimbursement guarantees

My POA document (prepared by a lawyer) grants all the rights that I have, including the right to recover and change my passwords. But brokerage accounts seem to void their reimbursement guarantees if I share my passwords. For example: https://personal.vanguard.com/us/help/SecurityOnlineFraudPledgeC...
by tadamsmar
Wed Nov 15, 2017 7:54 am
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

It use to be easier, but now adding Vanguard full agent authorization requires you, two witnesses that are not the agent, and a notary. Four people together at the notary's desk, including the notary. It's the most elaborate requirement for notarizing a form that I have ever encountered. My bank (We...
by tadamsmar
Tue Nov 14, 2017 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

Just want to note that there is no law or regulation that requires Vanguard to reimburse you due to a fraud that was not due to a fault in their systems. Many brokerages don't give a reimbursement pledge, but the big three mutual fund companies do. And, there is no case law that bears directly on th...
by tadamsmar
Tue Nov 14, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: POAs vs brokerage reimbursement guarantees
Replies: 5
Views: 538

Re: POAs vs brokerage reimbursement guarantees

Raladic wrote:
Mon Nov 13, 2017 5:00 pm
The right to recover your password sounds different to sharing your password to me?
The POA says that I grant all the access rights I have, including changing and recovering passwords.

I should have spell it out more clearly.
by tadamsmar
Tue Nov 14, 2017 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

If you have a password manager you could write a letter to the person with your DPOA and give them the password. Then, this person could use your computer and do anything with any of your accounts that you could do. Obviously, this is against the rules of most institutions such as Vanguard, and Sch...
by tadamsmar
Tue Nov 14, 2017 8:52 am
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

If you have a password manager you could write a letter to the person with your DPOA and give them the password. Then, this person could use your computer and do anything with any of your accounts that you could do. Obviously, this is against the rules of most institutions such as Vanguard, and Sch...
by tadamsmar
Tue Nov 14, 2017 7:16 am
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

Unfortunately, if you have to act for an incapacitated person, the limited agent authorization does not allow the range of actions that might be required. The full agent authorization requires a notarized signature which is often not possible. The agent authorization of an incapacitated person that...
by tadamsmar
Tue Nov 14, 2017 7:12 am
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

You gain access via their own account login. I'm not sure I understand this. Are you saying that if Sam names Joe as authorized agent, then Joe logs in using Sam's username and password? I would expect Joe to access Sam's account through his own login, which would now provide access to Sam's accoun...
by tadamsmar
Mon Nov 13, 2017 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

Gee. You can set up POA at Vanguard online in 2 minites. Why not instead of aggravating yourself about it. Would the person named as agent then immediately have full access to my accounts? It's called Agent Authorization. The one you can set up in 2 minutes only allows limited account transactions....
by tadamsmar
Mon Nov 13, 2017 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 65
Views: 5057

Re: Draft a will with legalzoom or other online legal help

My work does not provide legal advice benefit. But I have talked my husband into hiring an attorney after reading all the replies here. Regarding the beneficiary set up of the retirement accounts, I have always set up either my husband or myself as 100% primary beneficiary. Then each of my kids as ...
by tadamsmar
Mon Nov 13, 2017 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: POAs may not be that powerful
Replies: 94
Views: 5458

Re: POAs may not be that powerful

Banks and brokerages may refuse a POA. https://www.nytimes.com/2016/05/10/health/finding-out-your-power-of-attorney-is-powerless.html?_r=0 2. In many states (including my state of Virginia), financial institutions (banks and credit unions, for example) may not refuse to honor a PoA because it is to...
by tadamsmar
Mon Nov 13, 2017 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: POAs vs brokerage reimbursement guarantees
Replies: 5
Views: 538

POAs vs brokerage reimbursement guarantees

My POA document (prepared by a lawyer) grants all the rights that I have, including the right to recover and change my passwords. But brokerage accounts seem to void their reimbursement guarantees if I share my passwords. For example: https://personal.vanguard.com/us/help/SecurityOnlineFraudPledgeCo...
by tadamsmar
Sun Nov 12, 2017 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Draft a will with legalzoom or other online legal help
Replies: 65
Views: 5057

Re: Draft a will with legalzoom or other online legal help

You "have investment in Roth IRA, 401K, 529 Plan, etc. accounts worth around $1 million." Do lawyers even have to expertise to advise you on how to handle those? Do they typically do that? It's typically best that those do not go to the estate. The will only covers the estate. I used a lawyer for my...
by tadamsmar
Sat Nov 11, 2017 6:26 am
Forum: Investing - Theory, News & General
Topic: What do people mean when they say their SWR is X% or they have X times expenses?
Replies: 27
Views: 2299

Re: What do people mean when they say their SWR is X% or they have X times expenses?

When people say their savings are enough that they can live on a 2% or 3% SWR or that they have 25, 30 or 40 times expenses are they talking about at once they start to draw SS and pension or before. It would seem to me the before and after calculations of WR and multiple of expenses will be quite ...
by tadamsmar
Fri Nov 10, 2017 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Beneficiary Designation on Traditional IRA
Replies: 8
Views: 778

Re: Beneficiary Designation on Traditional IRA

I must not be that big a deal to have a minor inherit. Looks like a conservator would be appointed if need be. In principle, just about every minor on Earth could become an heir today. Don't you have secondary beneficiaries designated with "per stripes"? That could lead to a minor inheriting unless ...
by tadamsmar
Fri Nov 10, 2017 9:36 am
Forum: Investing - Theory, News & General
Topic: How much does diligent rebalancing add to a portfolio?
Replies: 35
Views: 2581

Re: How much does diligent rebalancing add to a portfolio?

Depends. Adds zero in a random walk market. Adds some in a mean-reverting market. Subtracts some in an up-trending market: https://personal.vanguard.com/pdf/flgprtp.pdf Look at Table 3. Rebalancing did not make much of a difference, no evidence that it added to the portfolio, The reason to rebalance...
by tadamsmar
Wed Nov 08, 2017 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?
Replies: 98
Views: 8514

Re: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?

tadamsar, I agree and probably should have modified my comment to say those are things to consider. I've modified mine to only make sure my children know where accounts are and how to access records they might need much like what you describe. At one point it contained details on untaken company pe...
by tadamsmar
Wed Nov 08, 2017 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?
Replies: 98
Views: 8514

Re: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?

5) Prepared and keep up-to-date a file with details on accounts, insurance, etc (sometimes called a death book, https://www.bogleheads.org/forum/viewtopic.php?p=1743671#p1743671 ) That death book is appropriately named because it puts to death your reimbursement guarantees for all your mutual funds...
by tadamsmar
Wed Nov 08, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Voice Verification
Replies: 35
Views: 3845

Re: Vanguard Voice Verification

Finally got to it. Got a bit of a snag with the "Call me" Web page not working properly with Google Chrome, I switched to Safari, and everything worked well (and I have a strong accent). I like the idea of voice recognition replacing stupid security questions... They don't use a second factor? A se...
by tadamsmar
Wed Nov 08, 2017 11:46 am
Forum: Investing - Theory, News & General
Topic: Vanguard's new security key option
Replies: 119
Views: 28940

Re: Vanguard's new security key option

Vanguard confirmed husband/wife cannot even share passwords even with agent authorization in place. There must be some mistake. We do it all the time. Sharing passwords voids the reimbursement pledge, since one of your responsibilities is: Never share your user name, password, or other account-rela...
by tadamsmar
Mon Nov 06, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?
Replies: 98
Views: 8514

Re: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?

I don't understand this reverence for the 3 fund portfolio. When my almost 90 year old MIL realized that her investment advisor was lying to her about her annuity to fund his boat, I took over and arranged to put her in the Vanguard Target Retirement Fund Income. It was a no brainer. I set up Agent ...
by tadamsmar
Mon Nov 06, 2017 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Voice Verification
Replies: 35
Views: 3845

Re: Vanguard Voice Verification

A non-identical twin easily cracked HSBC voice verification 6 months ago: http://www.bbc.com/news/technology-39965545 Also a company called Lyrebird has a voice replication system. Seems to me that the Achille's heel would be that such systems have to be reasonably user-friendly, so they cannot be t...
by tadamsmar
Mon Nov 06, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?
Replies: 98
Views: 8514

Re: Morningstar: Cognitive decline in aging. A strong case for portfolio simplification?

My wife and I have established full Agent Authorizations for each other's accounts at Vanguard. I think everyone should consider using Vanguard Agent Authorizations. We also have POAs. My AA is fairly simple and my wife has a copy of the plan. Note that having taxable accounts with cap gains can mak...
by tadamsmar
Mon Nov 06, 2017 7:56 am
Forum: Personal Consumer Issues
Topic: dishwasher recommendations
Replies: 54
Views: 3315

Re: dishwasher recommendations

There are dishwashers that have a 1 hour cycle option. We have a Kitchen Aide with that feature. The cycle uses more water and heats the water hotter. It's the least water and energy efficient wash cycle. If the dishwasher is less than a few years old it sounds like a quick wash feature which may r...
by tadamsmar
Sun Nov 05, 2017 9:29 pm
Forum: Personal Consumer Issues
Topic: dishwasher recommendations
Replies: 54
Views: 3315

Re: dishwasher recommendations

There are dishwashers that have a 1 hour cycle option. We have a Kitchen Aide with that feature.

The cycle uses more water and heats the water hotter. It's the least water and energy efficient wash cycle.
by tadamsmar
Fri Nov 03, 2017 9:56 pm
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

I struck me that this may be a good general principle. If you have a choice, then it is always preferable to convert a tax-deferred dollar to Roth, rather than put a current income dollar into a Roth. These aren't the same dollars. Suppose you have $1000 in spare cash, and are in a 25% tax bracket....
by tadamsmar
Fri Nov 03, 2017 3:39 pm
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

So take note of where the savings is really coming from - it is coming from having less exposure to the market when it declined. If that is what you want to protect against you can keep the $25 aside for the year and contribute it to the Roth at the end of the year instead of the beginning - in tha...
by tadamsmar
Fri Nov 03, 2017 2:35 pm
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

But the deadline to recharacterize and the deadline for paying the taxes is the same date. The deadline to recharacterize and the deadline for filing the taxes (assuming you file for an extension) is the same date in mid October. The deadline for paying the taxes without interest or penalty is 6 mo...
by tadamsmar
Fri Nov 03, 2017 2:19 pm
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

But the deadline to recharacterize and the deadline for paying the taxes is the same date. The deadline to recharacterize and the deadline for filing the taxes (assuming you file for an extension) is the same date in mid October. The deadline for paying the taxes without interest or penalty is 6 mo...
by tadamsmar
Fri Nov 03, 2017 1:51 pm
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

The tax on the conversion may reduce or eliminate the money available for any contribution. I don't quite understand your point. We are talking about a dollar going into a Roth. No, you are talking about moving a dollar from one savings vehicle to another within your existing portfolio at a cost of...
by tadamsmar
Fri Nov 03, 2017 12:26 pm
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

In what way is this an either/or situation? A conversion is moving around existing savings, a contribution is new savings. Conversions don't preclude contributions and vice versa. The tax on the conversion may reduce or eliminate the money available for any contribution. I don't quite understand yo...
by tadamsmar
Fri Nov 03, 2017 11:57 am
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Re: Is Roth Conversion always better than using current income?

In what way is this an either/or situation? A conversion is moving around existing savings, a contribution is new savings. Conversions don't preclude contributions and vice versa. The tax on the conversion may reduce or eliminate the money available for any contribution. I don't quite understand yo...
by tadamsmar
Fri Nov 03, 2017 10:32 am
Forum: Personal Finance (Not Investing)
Topic: What so scary about TSP loans?
Replies: 23
Views: 1919

Re: What so scary about TSP loans?

I think the best course would be to get one of those improperly documented loans from your in-laws and then never pay them back. :twisted:
by tadamsmar
Fri Nov 03, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

There are at least two ways to do "agent". One of them gives you almost complete control of the account including moving funds out of it.Change beneficiary? I think extensive signature forms,permissions to be filled in by both the account owner and the "agent", and probably a medallion signature ar...
by tadamsmar
Fri Nov 03, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: What so scary about TSP loans?
Replies: 23
Views: 1919

Re: What so scary about TSP loans?

LTLurkerFTPoster... I'm buying a new house. Depending on some possible concessions and whether I go for negative points, I'm likely going to be about 10-20K short of 20% down. I have a couple options. I could get a gift from folks or inlaws. I could withdraw contributions from Roth. I could get an ...
by tadamsmar
Fri Nov 03, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

Broken Man - once the funds are restored I'll be helping him transfer the account to Vanguard. I'd strongly consider transferring the account to someone with a physical branch near your father and you. Vanguard can be very difficult to deal with for an elder and things like powers of attorney. Help...
by tadamsmar
Fri Nov 03, 2017 8:44 am
Forum: Investing - Theory, News & General
Topic: Is Roth Conversion always better than using current income?
Replies: 22
Views: 1841

Is Roth Conversion always better than using current income?

I struck me that this may be a good general principle. If you have a choice, then it is always preferable to convert a tax-deferred dollar to Roth, rather than put a current income dollar into a Roth. Preferable because you have the flexibility to reversing a conversion before the deadline. Am I wro...
by tadamsmar
Fri Nov 03, 2017 8:12 am
Forum: Investing - Help with Personal Investments
Topic: Self-employment, using IRAs
Replies: 4
Views: 274

Re: Self-employment, using IRAs

Do you file jointly? What is your marginal tax rate? Generally, I would suggest Roth on the IRA side, Traditional on the 401k side. Wait until retired to pull from and/or convert the deferred funds. Wait until 70 to claim SS. Depending on when you retire, pull as much as you can from the deferred a...
by tadamsmar
Fri Nov 03, 2017 7:55 am
Forum: Investing - Help with Personal Investments
Topic: Self-employment, using IRAs
Replies: 4
Views: 274

Re: Self-employment, using IRAs

Do you file jointly? What is your marginal tax rate? Generally, I would suggest Roth on the IRA side, Traditional on the 401k side. Wait until retired to pull from and/or convert the deferred funds. Wait until 70 to claim SS. Depending on when you retire, pull as much as you can from the deferred a...
by tadamsmar
Fri Nov 03, 2017 7:18 am
Forum: Investing - Help with Personal Investments
Topic: Self-employment, using IRAs
Replies: 4
Views: 274

Self-employment, using IRAs

My wife (over 55) is a self-employed consultant. She has a Vanguard Individual 401k, but it does not support Roth conversions and if she makes a Roth contribution to it, then that is not reversible (as far as I know). Looks like she can make a $6,5000 contribution to a traditional IRA. Then that cou...
by tadamsmar
Wed Nov 01, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

Sounds like a happy ending.
by tadamsmar
Wed Nov 01, 2017 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

Advice from a law firm to investment firms: Boards should consider with counsel whether their funds’ current prospectuses and other disclosure documents appropriately disclose any possible risks to shareholders with respect to cyberlosses. https://www.perkinscoie.com/images/content/1/1/v2/114956/Inv...
by tadamsmar
Wed Nov 01, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

FINRA is the industry's non-government regulatory organization. They recommend that you ask your brokerage firm:
Will you reimburse me if my assets are compromised by a cyber-attack?
http://www.finra.org/investors/alerts/c ... erage-firm
by tadamsmar
Wed Nov 01, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

2015 SEC Study: The Securities and Exchange Commission released details Tuesday from a study of cybersecurity practices at more than 100 broker-dealers and registered investment advisers. Just 15% of broker-dealers and 9% of advisers offer security guarantees to clients that would make them whole af...
by tadamsmar
Tue Oct 31, 2017 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: My 401k is almost all cash now. 1/2 Mil
Replies: 89
Views: 9450

Re: My 401k is almost all cash now. 1/2 Mil

My strategy was, once market drops 20% I will start buying again. It worked in 2008. I moved 100% in sp500. Kept on selling till 2016 Feb. Now I am just waiting. I may start DCA into SPY a little bit and hope for a crash in next few years. So, if the market drops 20% now, then you will buy back in....
by tadamsmar
Tue Oct 31, 2017 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

This article covers a number of similar recent cases. If thieves ransack my 401(k) or similar retirement account, will anybody reimburse me? Probably. So far, people who work in this area tell me investment companies have reimbursed all the money victims had in their accounts if it’s clear that iden...
by tadamsmar
Sun Oct 29, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

samsoes wrote:
Sun Oct 29, 2017 2:01 pm
tadamsmar wrote:
Sun Oct 29, 2017 1:48 pm
...Ameritrade may be trying play by the same rules as the TSP, it is perfectly legal for them to do do, but they are more sensitive to publicity.
I've been following this thread closely; I believe Transamerica is the firm in question here, not Ameritrade.
Thanks, I corrected it.
by tadamsmar
Sun Oct 29, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

This is a dangerous myth. You can find plenty of information that debunks it, like for instance: https://www.moneytalksnews.com/ask-stacy-what-happens-investment-account-hacked. As noted the article basically states that in a case like the OP's, they should get reimbursed. Cases where this does not...
by tadamsmar
Sun Oct 29, 2017 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 58331

Re: Retirement Account Stolen by Identity theft

This is a dangerous myth. You can find plenty of information that debunks it, like for instance: https://www.moneytalksnews.com/ask-stacy-what-happens-investment-account-hacked. As noted the article basically states that in a case like the OP's, they should get reimbursed. Cases where this does not...