Search found 429 matches
- Thu Aug 09, 2012 5:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: do I have any options with my underwater condo?
- Replies: 23
- Views: 2672
Re: do I have any options with my underwater condo?
thanks - a real estate attorney would be best i assume? Yes. Worth their weight in gold. Could save you many years of grief, and a lot of money, to ensure the transaction documents absolve you of any liability. You want to avoid something like this: http://www.usatoday.com/money/economy/housing/2010-11-28-short-sales_N.htm yup it sucks. most things here that ive seen have HOA, but the condo's fees are just ridiculous! $350 a month? multiplied by god knows how many units? and for what? mow the lawn, clean the pool, paint once and awhile? they are bringing in easily more than a million and i guarantee they dont spend anywhere close to that. oh and when you break the smallest rule? they are all over you. if you have a serious complaint? they ...
- Thu Aug 09, 2012 5:49 pm
- Forum: Investing - Theory, News & General
- Topic: MF global update?
- Replies: 19
- Views: 4247
Re: MF global update?
You should look up rehypothecation, and rehypothecation within the shadow banking system. That will really make you nervous. As for MF Global, I believe most of the money has been recovered. The "vaporize" story line was pure, utter BS. Money doesn't "vaporize." Every single money transfer results in a journal entry. Funds can be traced. This is especially true for client-segregated accounts, which require additional authorizations, especially at a futures commission merchant like MF Global. And the MF Global money was traced right to JP Morgan Chase -- who asked that MF Global execs sign a release stating some of the funds were not customer-segregated funds. This was a lie, of course, and Edith O'Brien, the former MF tr...
- Thu Aug 09, 2012 5:32 pm
- Forum: Personal Finance (Not Investing)
- Topic: do I have any options with my underwater condo?
- Replies: 23
- Views: 2672
Re: do I have any options with my underwater condo?
California is non-recourse. But you need to check if the refi put you on the hook personally for the mortgage note. Same thing for people who stupidly took HAMP modifications or other similar programs that put them on the hook personally, instead of taking advantage of the fact they reside in a non-recourse state and can walk away from a sinkhole. If it were me, I'd dump it via short sale. Be free and clear of it. Also, I strongly advise you to get a competent lawyer to review the short-sale (or any other) documents if you decide to jettison the condo -- there are reported cases where banks try to scam mortgage debtors by transferring and recording only the deed, leaving the borrower on the hook for the note, i.e. the asset is transferred, ...
- Thu Aug 09, 2012 5:17 pm
- Forum: Personal Investments
- Topic: I could use some commentary
- Replies: 9
- Views: 1137
Re: I could use some commentary
I've recently purchased a number of these funds and am interested what others will opine on your selection.
- Thu Aug 09, 2012 5:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Post-Spending Regret
- Replies: 64
- Views: 7256
Post-Spending Regret
I have this issue where, for larger purchases, I will contemplate how much in future income the current purchase cost us -- and after the purchase, I tend to think about it obsessively. Frankly, I don't like to spend money -- but I can get unhealthy about it. I won't have kids because I have no desire to raise a family, and frankly I don't want to spend money on kids clothes, schooling, college, etc. I refuse to have a wedding because I think it's a massive waste, an opportunity for these charlatans to gouge us for bad food, bad cake, bad clothes, and stupid photos I don't want or need. To hell with the "joyous day," give me the lifetime earnings from the wedding's cost. Another example, we recently returned from a short vacation....
- Sat Aug 04, 2012 12:58 am
- Forum: Personal Investments
- Topic: Recommendations for brokerage firms
- Replies: 15
- Views: 2083
Re: Recommendations for brokerage firms
Based on what you plan to do, I recommend Fidelity. Their fees are $7.95 per trade, reasonable. Plus if you want funds, you can by some good Fidelity Spartan funds. Another reason I like Fidelity is you can purchase, if you wish, individual municipal bonds on the new issue market, they have a huge selection from across the U.S., better than any other broker that I have seen. Muni new issue means standard pricing by law for all participants (no games or gouging) and fixed low issuer fees (which is quite unlike the secondary market where bond traders will eat you alive). This is the only way I will purchase individual muni bonds, else I use a Vanguard fund because the secondary bond market can quickly ensnare an individual investor. Final rea...
- Fri Aug 03, 2012 4:18 pm
- Forum: Personal Investments
- Topic: Quick question about Starting a Portfolio
- Replies: 13
- Views: 1788
Re: Quick question about Starting a Portfolio
I extensively researched this question and this site, as I too am new with Vanguard. The consensus (and the better argument) in my view is this: if you're in it for the long term, and you should be, invest it all according to your desired allocation. You can't time the market and you can't predict the future, start putting it to work immediately. Search this site, and think logically about the question (e.g. if it makes sense for you to be out of the market because you are timing, then it follows I too should be out of the market to avoid losses and maximize gains.)
Also, see http://www.bogleheads.org/forum/viewtopic.php?t=83767
Also, see http://www.bogleheads.org/forum/viewtopic.php?t=83767
- Thu Aug 02, 2012 10:39 pm
- Forum: Personal Investments
- Topic: How To Manage/Invest 2 Million Usd
- Replies: 8
- Views: 2396
Re: How To Manage/Invest 2 Million Usd
I am finding this to be true, especially the years part.Watty wrote:5) Being in a hurry to decide how to invest. If you are just starting to learn what to do then take at least six months or longer to decide what you should do. One you decide it may take several years to move the money to where you want it for the long term.
- Thu Aug 02, 2012 5:48 pm
- Forum: Investing - Theory, News & General
- Topic: Knight Capital and Individual Investors
- Replies: 6
- Views: 2497
Re: Knight Capital and Individual Investors
My being familiar with it, or labeling it institutionalized theft?xerty24 wrote:You're not helping your credibility much with comments like that.DualIncomeNoDebt wrote:i... am familiar with HFT trading (read: unlawful frontrunning).
- Thu Aug 02, 2012 5:03 pm
- Forum: Personal Investments
- Topic: What Would You Invest in with $15,000 Extra Cash?
- Replies: 30
- Views: 5823
Re: What Would You Invest in with $15,000 Extra Cash?
That $15k in cash can buy an awful lot of fun in the future if you invest it wisely. Don't squander it on some frolic, like so many other people do.
- Thu Aug 02, 2012 4:59 pm
- Forum: Investing - Theory, News & General
- Topic: Knight Capital and Individual Investors
- Replies: 6
- Views: 2497
Knight Capital and Individual Investors
I've been watching the Knight Capital implosion and am familiar with HFT trading (read: unlawful frontrunning). This story is interesting, http://www.cnbc.com/id/48466309. To sum, Knight is publicly traded, and its main clients are other traders (vultures). It's disturbing, yet so typical, that Knight would give its own clients (traders) early warning about Knight's trading difficulties at the market open, yet not a word issued to Knight's individual stockholders or to the public. Of course the instant these traders got hold of Knight's problems, they leveraged it into a monster trade. This was quickly picked up by the options market -- even more money to be made on long equity investors. Hence people "in the know" were dumping KC...
- Thu Aug 02, 2012 6:24 am
- Forum: Personal Finance (Not Investing)
- Topic: Help me choose home theater system from Costco
- Replies: 23
- Views: 7321
- Thu Aug 02, 2012 4:53 am
- Forum: Personal Investments
- Topic: Why does my bond allocation need to be so high?
- Replies: 33
- Views: 4381
Re: Why does my bond allocation need to be so high?
You have received some excellent responses from the prior posters. Some other things to consider. First, if you allocate at least some of your money to bonds, over the long term it shouldn't have an outsize impact on expected returns. But during a major market correction, the bonds will be a major stabilizing force, especially if you have individual stocks, which can get cut in half during a single trading day. Second, if you want a graphical representation of the risk you are taking, take a look at http://advisoranalyst.com/glablog/2011/09/20/why-everyone-hates-equities-and-loves-bonds/ . Look at the volatility of stocks versus bonds, and conclude whether you really are being compensated for that risk. SocGen pegs it at 3:1 - bad odds. Loo...
- Mon Jul 30, 2012 3:59 pm
- Forum: Personal Investments
- Topic: Should I cash in my whole life policy?
- Replies: 8
- Views: 1312
Re: Should I cash in my whole life policy?
No question, cash it in. Get term, save the wasted monthly premium, and you'll be much better off.
- Tue Jul 24, 2012 11:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Older couple being swindled w/ Genworth Variable Annuity
- Replies: 70
- Views: 15210
Re: Older couple being swindled w/ Genworth Variable Annuity
Based on the prospectus, it is fee-laden. It's got "variable account" expenses up to 1.5% per annum, and on top of that, another layer of fees for "annual operating expenses charged by the Total Return Fund that you may pay during the time that you own the contract," which look to be about 0.77%. This is how the fees are layered: "The expenses for the Total Return Fund are deducted by the Fund before it provides us with the daily net asset values. We then deduct the Variable Account charges from the net asset value in calculating the unit value of the corresponding Subaccount." Pages 10-11, Prospectus. This thing is designed to siphon 2.27% of their money to the insurance company for the rest of their lives. I ...
- Tue Jul 24, 2012 7:27 pm
- Forum: Personal Investments
- Topic: From "Individual" Investments to Funds and ETFs
- Replies: 8
- Views: 1380
Re: From "Individual" Investments to Funds and ETFs
I will read it, thank you.
- Tue Jul 24, 2012 3:47 pm
- Forum: Personal Investments
- Topic: From "Individual" Investments to Funds and ETFs
- Replies: 8
- Views: 1380
Re: From "Individual" Investments to Funds and ETFs
These responses are helpful, thank you. I am lucky in that I have mostly larger dividend payers which have done fairly well (current flavor of the last few quarters). It's tough to sell them and get into the low-cost, broadbased fund mindset. But I don't want to be lucky, or be tracking individual businesses, or be beholden to sector whims -- I've really started to hate it, which led me to Vanguard and these forums. I want to be rational, so I'm working on it now, and have started liquidating. The cap gains are going to sting a bit (in some cases a lot), but I'm feeling better about the switch with every "sell all shares" execution I initiate. I also have two stocks that have been absolutely crushed because of the natural gas down...
- Tue Jul 24, 2012 7:24 am
- Forum: Personal Investments
- Topic: Holding gold in a safe deposit box
- Replies: 33
- Views: 5128
Re: Holding gold in a safe deposit box
Not quite. By holding gold at home you have increased your risk of violence, break in etc. So other than a couple of gold coins, I would recommend against holding gold at home . Maybe you can conceal it really well and no one knows you own it. Maybe. There are a lot of people who know things about you: the people who clean and repair your house, the people who do deliveries, your neighbours, the parents of your kids friends, your inlaws (unless you do not plan to tell your wife), companies that sell you things that are in your home, your insurer and everyone who works for your insurer.... This. I can personally attest you never know who is watching you or where your information is going. One very recent example, my colleague purchased a Po...
- Tue Jul 24, 2012 6:58 am
- Forum: Personal Investments
- Topic: From "Individual" Investments to Funds and ETFs
- Replies: 8
- Views: 1380
From "Individual" Investments to Funds and ETFs
General question concerning those of you who used to have specific or individualized investments, such as particular stocks, individual bonds, perhaps you were overweight company equity in your 401k, etc. After doing the research, you exited individual investments and made the switch to low-cost index funds, ETFs, etc. Question is, did you dump all individual investments en masse and then jump into your chosen funds all at once and quickly? Or did you take your time, waiting many months or years before you disposed of your individual issues and were "all in" with your chosen funds and ETFs? Based on your experience, which would you recommend doing? Final question is, did the switch allow you to ignore the noise, sleep better, or s...
- Tue Jul 24, 2012 1:14 am
- Forum: Personal Investments
- Topic: Holding gold in a safe deposit box
- Replies: 33
- Views: 5128
Re: Holding gold in a safe deposit box
Do not bury in back yard. Bank safe deposit is generally o.k., just be sure to bank with a sound regional bank. If it is a large amount of gold, do not store at home, and do not think a home safe offers protection. Home vault is false security. You'll open that "secure" home safe the second some criminal puts a gun to your head, to your wife's head, or threatens to shoot a child you love if you fail to open the safe. If someone threatened my significant other, I would give them anything under that kind of duress. Valuable gold or money, gone in sixty seconds. This may sound stark or harsh, but it is the plain truth. This also is yet another reason (in a long list of reasons) to favor liquid accounts at Vanguard and Fidelity -- amo...
- Sun Jul 22, 2012 12:04 am
- Forum: Personal Finance (Not Investing)
- Topic: Flexible premium adjustable life insurance
- Replies: 14
- Views: 8881
Re: Flexible premium adjustable life insurance
"Flexible premium adjustable" -- you are exactly right, it's just a nonsense variation on whole life policies. You get a reduced death benefit and some [poor] "investment vehicle," or "forced savings" in insurance company parlance. Guaranteed the premiums they pay into the investment vehicle side of the policy will be siphoned by the underwriter, with a fat commission to the insurance agent. The return will be atrocious and the premiums your hardworking children are paying will be [wasted] on costs, fees, and a bad return. Advise them in the strongest possible language to get straight term policies. That is all they need. A simple, inexpensive product with a guaranteed payout should the unfortunate occur. Then,...
- Fri Jul 20, 2012 3:56 am
- Forum: Investing - Theory, News & General
- Topic: pros and cons of gold
- Replies: 84
- Views: 8246
Re: pros and cons of gold
Can someone elaborate further on this "consumption dividend" as it applies to bullion, and to residential real estate? And explain how/why these assets are overpriced from an investor's perspective? Note I've always felt this way intuitively about homes/condos, which are significantly overpriced given the sky-high fees, taxes, transaction costs, and maintenance costs.
- Thu Jul 19, 2012 3:35 am
- Forum: Personal Finance (Not Investing)
- Topic: To Buy or Not To Buy a Condo
- Replies: 13
- Views: 7724
Re: To Buy or Not To Buy a Condo
Well, I think I am convinced not to buy that condo. Thank you all so much for your advise and help! What REIT should I buy? :) :) I am relieved for you. There are a lot of transaction costs and fees that make a one-off condo vacation property a dicey, stressful proposition, and this is compounded if you are a remote landlord. As for REITS, I own a couple of individual names (O and SNH) which I purchased when they were cheaper, and I also bought some preferred shares in the REIT sector that I picked up for an absolute steal when the markets were volatile. But I'm no market timer -- I simply was looking for quality low-priced names on a par basis. Personally I am not adding to my individual positions, but I have no idea if I am right or wron...
- Wed Jul 18, 2012 11:21 pm
- Forum: Personal Investments
- Topic: 401k Fees
- Replies: 16
- Views: 1495
Re: 401k Fees
I bet those are, in fact, the fees charged to her personally for one year. And as someone said, those fees don't include the fund-specific fees you are paying which don't require an itemized line item (but you can look at the fund disclosure to determine the fee).
Those fees are pure robbery. Complain to HR. And get the assets transferred out of there and under your control without triggering a penalty, you already have a suggestion on how to accomplish this.
Those fees are pure robbery. Complain to HR. And get the assets transferred out of there and under your control without triggering a penalty, you already have a suggestion on how to accomplish this.
- Wed Jul 18, 2012 10:13 pm
- Forum: Personal Investments
- Topic: Request For Long Term Income Fund of Low to Moderate Risk
- Replies: 7
- Views: 2479
Re: Request For Long Term Income Fund of Low to Moderate Ris
Look at Vanguard's summary table and click the Distributions tab for an overview. Vanguard bond and money market funds typically distribute dividends monthly. Others, quarterly or annually and I haven't figured out the pattern. Wellesley, Target Retirement Income, and LifeStrategy Income distribute dividends quarterly. They all seem to distribute capital gains at the end of the year. Thank you for the link, I recently set up my account and wasn't aware of this table, it's a nice summary Vanguard provides. That's just an observation for Wellesley and I haven't seen it spelled out anywhere, unless that's what they mean by "goal of steady income." Something that might appeal to you is that according to Vanguard's product summary , &...
- Wed Jul 18, 2012 6:34 pm
- Forum: Personal Investments
- Topic: Request For Long Term Income Fund of Low to Moderate Risk
- Replies: 7
- Views: 2479
Re: Request For Long Term Income Fund of Low to Moderate Ris
O.K. thank you. As for portfolio I wanted to keep the details short and to the point and get some general guidelines. Thank you kindly for the response re indexing.Johm221122 wrote:Vanguard bond index monthly and stock indexes quarterly.Why not post your portfolio and see what ideas come from that
Here is link http://www.bogleheads.org/forum/viewtopic.php?t=6212
- Wed Jul 18, 2012 6:25 pm
- Forum: Personal Investments
- Topic: Request For Long Term Income Fund of Low to Moderate Risk
- Replies: 7
- Views: 2479
Re: Request For Long Term Income Fund of Low to Moderate Ris
Yes I read that very page yesterday, along with forum comments concerning same. Do any of these funds regularly make cash distributions into your account, or does one have to sell shares for cash? This may sound like a dumb question, but understand for every single investment I currently own, I get paid every month, every quarter, or semiannually in the case of municipal bonds, and I don't sell them, ever, unless I am fully exiting the investment or my investment has been called (bonds, preferred stocks).
- Wed Jul 18, 2012 6:04 pm
- Forum: Personal Investments
- Topic: Request For Long Term Income Fund of Low to Moderate Risk
- Replies: 7
- Views: 2479
Request For Long Term Income Fund of Low to Moderate Risk
Age : 40 AA : ~90% equities (mostly dividend payers, utils, 10% REITS) ~10% bonds (mostly new issue municipal) First Vanguard purchase was yesterday, Total Bond Market Index Admiral (VBTLX) Debts : none Question : seeking quality income fund or funds for the long-term, essentially a lifetime buy-and-hold that I can add to regularly with minimal expense, and take cash distributions regularly to either reinvest or use as necessary, as I see fit Hello everyone, I recently established an account at Vanguard and am looking for some recommendations. I don't have significant experience with ETFs or managed funds hence I seek guidance. I have searched the forums before making this request. I do have investment experience. I recently turned 40. I'v...
- Wed Jul 18, 2012 4:31 am
- Forum: Personal Finance (Not Investing)
- Topic: To Buy or Not To Buy a Condo
- Replies: 13
- Views: 7724
Re: To Buy or Not To Buy a Condo
I write to dissuade you, in strong terms, from purchasing a vacation "condo," especially in a one-season town like Colorado. I've been to Vail, Steamboat, and Telluride many times. CO is dead unless it's ski season, so out of the starting gate you've got limited opportunities to rent. Macro, vacation condos are generally horrendous "investments," and can be difficult to unload when you want out -- and you will. Take just the HOA or common dues/fees. Association fees will eat you alive. And you need to take a hard, detailed look at the bylaws, fees, assessments and caps, read every page and any addendum thereto. If your condo neighbors fall behind or defaults increase, your assessment is going up, and will stay up. Also, ...