Nervous about staying the course

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bck63
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Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 5:21 am

I'm starting to get nervous about staying the course. I paid almost no attention to my 403(b) accounts through the Great Recession -- just kept buying on automatic. I now also have a taxable account at Vanguard and I for some reason pay a lot more attention to it. Even with a relatively conservative allocation that is within my comfort level I am seeing drops in balance (to be expected, I know). In a sense, this is my first big market swing I've paid attention to as an investor. I am determined to stay the course. Bought more stock today as part of my usual plan, but the internet makes it very easy to push a button and change things around. I have 10-12 years until retirement.

Staying the course is the right thing to do, right?

RickBoglehead
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Re: Nervous about staying the course

Post by RickBoglehead » Fri Oct 26, 2018 5:23 am

Yes.

So you bought stock because your AA, across all accounts, had dropped more than 5% below your target?

HEDGEFUNDIE
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Re: Nervous about staying the course

Post by HEDGEFUNDIE » Fri Oct 26, 2018 5:26 am

The market is basically even since beginning of the year.

If you’re concerned about “drops in balance” just look back far enough in your timeframe so that you are still in the green.

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 5:36 am

RickBoglehead wrote:
Fri Oct 26, 2018 5:23 am
Yes.

So you bought stock because your AA, across all accounts, had dropped more than 5% below your target?
Thanks Rick! This morning (payday) I bought the same amount of stock and bonds that I always do in order to stay within my target allocation (50/50). I'm trying not to change course. I am a small investor and only have about $210,000 dollars saved so get easily nervous. DW and I will be fine with pension, social security and savings, but it is still nerve-wracking.

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 5:38 am

HEDGEFUNDIE wrote:
Fri Oct 26, 2018 5:26 am
The market is basically even since beginning of the year.

If you’re concerned about “drops in balance” just look back far enough in your timeframe so that you are still in the green.
Thanks. Good point. Going to pull out my old statements today.

visualguy
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Re: Nervous about staying the course

Post by visualguy » Fri Oct 26, 2018 5:42 am

HEDGEFUNDIE wrote:
Fri Oct 26, 2018 5:26 am
The market is basically even since beginning of the year.

If you’re concerned about “drops in balance” just look back far enough in your timeframe so that you are still in the green.
The US is even, but many here hold ex-US, and that's down 12% since the beginning of the year. Also, total bond is down about 2%.

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 5:46 am

HEDGEFUNDIE wrote:
Fri Oct 26, 2018 5:26 am
The market is basically even since beginning of the year.

If you’re concerned about “drops in balance” just look back far enough in your timeframe so that you are still in the green.
Just looked at my 2016 first quarter statement. Thanks Hedgefundie. I'm not going anywhere. :-))

HEDGEFUNDIE
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Re: Nervous about staying the course

Post by HEDGEFUNDIE » Fri Oct 26, 2018 5:49 am

bck63 wrote:
Fri Oct 26, 2018 5:46 am
HEDGEFUNDIE wrote:
Fri Oct 26, 2018 5:26 am
The market is basically even since beginning of the year.

If you’re concerned about “drops in balance” just look back far enough in your timeframe so that you are still in the green.
Just looked at my 2016 first quarter statement. Thanks Hedgefundie. I'm not going anywhere. :-))
:sharebeer

ge1
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Re: Nervous about staying the course

Post by ge1 » Fri Oct 26, 2018 6:00 am

Honestly if this makes you nervous, you may want to seriously consider lowering your allocation to stocks. We just experienced one of the longest bull market on record and are barely down 10%... You do realize that stocks can decline 50% in a bear market and stay down for a prolonged time as well? If you are not able to handle that, you need to decrease your allocation to stocks.

Not trying to scare you but I’d hate for you to sell at a much lower level.

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 6:17 am

ge1 wrote:
Fri Oct 26, 2018 6:00 am
Honestly if this makes you nervous, you may want to seriously consider lowering your allocation to stocks. We just experienced one of the longest bull market on record and are barely down 10%... You do realize that stocks can decline 50% in a bear market and stay down for a prolonged time as well? If you are not able to handle that, you need to decrease your allocation to stocks.

Not trying to scare you but I’d hate for you to sell at a much lower level.
Thanks so much. It's interesting, because while part of me is nervous, another voice in me wishes I had more to invest. I invest paycheck to paycheck and don't want to take anything out of my EF to invest extra. So there is definitely a part of me that sees stocks going down as an opportunity to buy more.

I'm now a Boglehead, so as our mentor says, I will "stay the course." :-)

Grt2bOutdoors
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Re: Nervous about staying the course

Post by Grt2bOutdoors » Fri Oct 26, 2018 6:41 am

bck63 wrote:
Fri Oct 26, 2018 5:36 am
RickBoglehead wrote:
Fri Oct 26, 2018 5:23 am
Yes.

So you bought stock because your AA, across all accounts, had dropped more than 5% below your target?
Thanks Rick! This morning (payday) I bought the same amount of stock and bonds that I always do in order to stay within my target allocation (50/50). I'm trying not to change course. I am a small investor and only have about $210,000 dollars saved so get easily nervous. DW and I will be fine with pension, social security and savings, but it is still nerve-wracking.
You will be fine. A 50/50 allocation is good, but if you find you can not get any sleep at night, then maybe a 40/60 allocation will be better.

Let’s use this as a hypothetical example:
You hold a 50/50 portfolio, market declines 10%, you now hold a 46/54 portfolio (bonds will typically rise as scared participants sell equities and buy bonds). You portfolio is down to 202,000. If you subscribe to the 4% withdrawal method, your annual income will decline by $320 in year 1, you don’t know what will happen in year 2, but let’s say you change allocation to 40/60, balance is now $201,680 and the market rises by 10%, balance is now roughly $209,000. You rebalance back to 40/60 and the cycle starts anew. If you think of it in annual income withdrawal it may be easier to tolerate these hiccups. People say all sorts of things about holding bonds, they only realize the benefits when the seas get rough.

Stick with it. And remember, small investors and large investors are subject to the same queasy feeling you are. That is why you are seeing such volatility, they are falling victim to their emotions most of the time. Unless you see something dramatically and verifiably different, stay the course. Nothing has changed since yesterday other than it’s getting colder in my neck of the woods.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

bondsr4me
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Re: Nervous about staying the course

Post by bondsr4me » Fri Oct 26, 2018 6:57 am

If things continue as they are, I think we are going to see who really can "stay the course" when the sea gets really rough.

If you find yourself getting really really nervous, checking your portfolio all throughout the day, and the market turmoil keeps you up at night, you need to reassess your "sleep well at night" allocation.

I don't like to see this kind of market turmoil. It bothers me.
I am a huge Warren Buffett fan and I understand his philosophy, but my "stock" allocation is small.
I realize that I may give up some gains. That's OK for me.
I just don't like to see the losses; especially now that I am in retirement.

I've always looked at investing as having 3 stages: accumulation, preservation, distribution.

I am in the "preservation" phase...I want to be sure to "preserve" something for the "distribution" phase.

This suits my investment "personality".
Everyone has to find what is comfortable for them.
It's times like these that test the gut.

Everyone have a great weekend,

Don

Fallible
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Re: Nervous about staying the course

Post by Fallible » Fri Oct 26, 2018 12:57 pm

Grt2bOutdoors wrote:
Fri Oct 26, 2018 6:41 am
...
People say all sorts of things about holding bonds, they only realize the benefits when the seas get rough....
How true this is. If I didn't already have a signature line, I'd ask your permission to use this one. :thumbsup
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

Fallible
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Re: Nervous about staying the course

Post by Fallible » Fri Oct 26, 2018 1:13 pm

bck63 wrote:
Fri Oct 26, 2018 5:21 am
I'm starting to get nervous about staying the course. I paid almost no attention to my 403(b) accounts through the Great Recession -- just kept buying on automatic. I now also have a taxable account at Vanguard and I for some reason pay a lot more attention to it. Even with a relatively conservative allocation that is within my comfort level I am seeing drops in balance (to be expected, I know). In a sense, this is my first big market swing I've paid attention to as an investor. I am determined to stay the course. Bought more stock today as part of my usual plan, but the internet makes it very easy to push a button and change things around. I have 10-12 years until retirement.

Staying the course is the right thing to do, right?
It is the right thing only if the course is right. First the course, then the staying. The course should be based on your need, ability, and willingness (emotional tolerance for risk). If you're losing sleep, lower risk now because if you don't, you could be more likely to sell in a bear market. A key question when setting an allocation is how much you can afford to lose before you'll need the money; if it's five years, or perhaps even 10 years, you should reduce risk.

If you have a written Investment Policy Statement describing your reasons for setting an allocation, now's the time to check it to see whether the course is right for you. If you don't have one, now's the time to write one.

First the right course, then the staying.
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 2:00 pm

Thanks to all for all your support. Gave me lots of food for thought. I think my plan will be to taper down on stocks, with new money only, since this is a taxable account. My time horizon is 10-12 more years till retirement.

I am grateful for this site.

Brian

MotoTrojan
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Re: Nervous about staying the course

Post by MotoTrojan » Fri Oct 26, 2018 3:43 pm

bck63 wrote:
Fri Oct 26, 2018 6:17 am
ge1 wrote:
Fri Oct 26, 2018 6:00 am
Honestly if this makes you nervous, you may want to seriously consider lowering your allocation to stocks. We just experienced one of the longest bull market on record and are barely down 10%... You do realize that stocks can decline 50% in a bear market and stay down for a prolonged time as well? If you are not able to handle that, you need to decrease your allocation to stocks.

Not trying to scare you but I’d hate for you to sell at a much lower level.
Thanks so much. It's interesting, because while part of me is nervous, another voice in me wishes I had more to invest. I invest paycheck to paycheck and don't want to take anything out of my EF to invest extra. So there is definitely a part of me that sees stocks going down as an opportunity to buy more.

I'm now a Boglehead, so as our mentor says, I will "stay the course." :-)
My solution for this? Invest every dollar I have (EF included)! I’m only mostly kidding.

MotoTrojan
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Re: Nervous about staying the course

Post by MotoTrojan » Fri Oct 26, 2018 3:44 pm

bck63 wrote:
Fri Oct 26, 2018 2:00 pm
Thanks to all for all your support. Gave me lots of food for thought. I think my plan will be to taper down on stocks, with new money only, since this is a taxable account. My time horizon is 10-12 more years till retirement.

I am grateful for this site.

Brian
Keep tax efficiency in mind. Equities belong in taxable. Look at your entire portfolio as one. Also learn about tax loss harvesting and when the market goes negative you can think of how much you saved on taxes instead of what you lost.

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 5:00 pm

MotoTrojan wrote:
Fri Oct 26, 2018 3:43 pm

My solution for this? Invest every dollar I have (EF included)! I’m only mostly kidding.
My EF is invested in the Vanguard Limited Term Tax-Exempt Fund. :-)

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arcticpineapplecorp.
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Re: Nervous about staying the course

Post by arcticpineapplecorp. » Fri Oct 26, 2018 5:03 pm

MotoTrojan wrote:
Fri Oct 26, 2018 3:44 pm
bck63 wrote:
Fri Oct 26, 2018 2:00 pm
Thanks to all for all your support. Gave me lots of food for thought. I think my plan will be to taper down on stocks, with new money only, since this is a taxable account. My time horizon is 10-12 more years till retirement.

I am grateful for this site.

Brian
Keep tax efficiency in mind. Equities belong in taxable. Look at your entire portfolio as one. Also learn about tax loss harvesting and when the market goes negative you can think of how much you saved on taxes instead of what you lost.
This was what I was going to say. Since you keep talking about taxable investments, you can actually profit from losses (this doesn't apply to your 403b). Read more here:

https://www.bogleheads.org/wiki/Tax_loss_harvesting

Any questions about tax loss harvesting?
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

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Toons
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Re: Nervous about staying the course

Post by Toons » Fri Oct 26, 2018 5:49 pm

bck63 wrote:
Fri Oct 26, 2018 5:21 am
I'm starting to get nervous about staying the course. I paid almost no attention to my 403(b) accounts through the Great Recession -- just kept buying on automatic. I now also have a taxable account at Vanguard and I for some reason pay a lot more attention to it. Even with a relatively conservative allocation that is within my comfort level I am seeing drops in balance (to be expected, I know). In a sense, this is my first big market swing I've paid attention to as an investor. I am determined to stay the course. Bought more stock today as part of my usual plan, but the internet makes it very easy to push a button and change things around. I have 10-12 years until retirement.

Staying the course is the right thing to do, right?
If it means anything
I have been staying the course since 1981
buying all the way
Just a lot of noise along the way
Dow 887
:mrgreen:
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 6:50 pm

arcticpineapplecorp. wrote:
Fri Oct 26, 2018 5:03 pm

Any questions about tax loss harvesting?
Thanks and yes. I hope I'm phrasing this right, can you tax loss harvest only on "long-term" capital losses? Losses incurred in less than one year?

Thanks for your reply and help.

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arcticpineapplecorp.
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Re: Nervous about staying the course

Post by arcticpineapplecorp. » Fri Oct 26, 2018 6:58 pm

bck63 wrote:
Fri Oct 26, 2018 6:50 pm
arcticpineapplecorp. wrote:
Fri Oct 26, 2018 5:03 pm

Any questions about tax loss harvesting?
Thanks and yes. I hope I'm phrasing this right, can you tax loss harvest only on "long-term" capital losses? Losses incurred in less than one year?

Thanks for your reply and help.
Your question is "Can you only tax loss harvest "long term" capital losses ?"(presumably assets you've held for more than 1 year) but then you talk about losses incurred "in less than one year" which would be defined as short term losses (on assets you held less than one year).

Whether they're short or long term held assets doesn't matter. A loss is a loss. The wiki page (link below) gives an example of making a lump sum in Jan 2008 and selling it Feb 2008 at a loss. That's clearly a short term loss because the investment was held less than a year.
https://www.bogleheads.org/wiki/Tax_loss_harvesting

So it doesn't matter whether the loss occurred after you held the asset for a day or 30 years.

That being said, what happens after you sell the asset at a loss is important. Follow the rules so as to not run afoul of the wash sale rule.

Does that help? Other questions?
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

Mr.BB
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Re: Nervous about staying the course

Post by Mr.BB » Fri Oct 26, 2018 7:08 pm

I'll bet the reason you are paying more attention this time is that you have a lot more in savings then 10 years ago which means more assumed risk.
Seeing $12,000 disappear in a day is much more stressful then if it was $1,200; yet the percent from.your total would be the same

Sometimes it is more helpful to just turn things off (news, financial reports , etc).
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 7:11 pm

arcticpineapplecorp. wrote:
Fri Oct 26, 2018 6:58 pm


That being said, what happens after you sell the asset at a loss is important. Follow the rules so as to not run afoul of the wash sale rule.

Does that help? Other questions?
Thanks arcticpineapplecorp I started to read the wiki and will keep doing so. My taxable account is primarily the Vanguard Tax-Managed Balanced fund (50/50). And I'm using municipal bond funds to edge toward my allocation goal. So will have to learn alot more and see if tax-loss harvesting will apply to me. It's brand new to me.

Thanks again!

dacalo
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Re: Nervous about staying the course

Post by dacalo » Fri Oct 26, 2018 7:40 pm

Stay the course. The market is being discounted currently so you get to pick up additional shares.

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Lemonaid56
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Re: Nervous about staying the course

Post by Lemonaid56 » Fri Oct 26, 2018 7:55 pm

I feel your pain. Certainly a stress test for us. The last two weeks we've gone back and forth but are down to about a 60K loss in taxable accounts. Less in the 401k's as they are more weighted in bonds.
Staying the course but feeling light headed.
I feel like after elections this will balance back some. At least the monthly deposit into the taxable account is going in when prices are cheaper. Usually it the other way around!

MathWizard
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Re: Nervous about staying the course

Post by MathWizard » Fri Oct 26, 2018 8:00 pm

bck63 wrote:
Fri Oct 26, 2018 5:21 am
I'm starting to get nervous about staying the course. I paid almost no attention to my 403(b) accounts through the Great Recession -- just kept buying on automatic. I now also have a taxable account at Vanguard and I for some reason pay a lot more attention to it. Even with a relatively conservative allocation that is within my comfort level I am seeing drops in balance (to be expected, I know). In a sense, this is my first big market swing I've paid attention to as an investor. I am determined to stay the course. Bought more stock today as part of my usual plan, but the internet makes it very easy to push a button and change things around. I have 10-12 years until retirement.

Staying the course is the right thing to do, right?
Are you in taxable because you have filled up all available tax advantaged? If not, the solution may be as simple as not having a taxable account.

I had a taxable account saving for the kid's college, but cashed it and have never gone back. I'm able to save about 45% in tax advantaged.

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GerryL
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Re: Nervous about staying the course

Post by GerryL » Fri Oct 26, 2018 8:13 pm

bck63 wrote:
Fri Oct 26, 2018 6:17 am
ge1 wrote:
Fri Oct 26, 2018 6:00 am
Honestly if this makes you nervous, you may want to seriously consider lowering your allocation to stocks. We just experienced one of the longest bull market on record and are barely down 10%... You do realize that stocks can decline 50% in a bear market and stay down for a prolonged time as well? If you are not able to handle that, you need to decrease your allocation to stocks.

Not trying to scare you but I’d hate for you to sell at a much lower level.
Thanks so much. It's interesting, because while part of me is nervous, another voice in me wishes I had more to invest. I invest paycheck to paycheck and don't want to take anything out of my EF to invest extra. So there is definitely a part of me that sees stocks going down as an opportunity to buy more.

I'm now a Boglehead, so as our mentor says, I will "stay the course." :-)
Our mentor also says "Don't peek."
In other words, if reports about the gyrations of the market make you nervous, stop paying attention. (Of course, this assumes that you are in an appropriate AA for your investment horizon.)

Austintatious
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Re: Nervous about staying the course

Post by Austintatious » Fri Oct 26, 2018 8:33 pm

A thread just started by forum member Fallible links to an article written by Jonathan Clements that's written specifically for those of us who are getting nervous about the current volatility of the market. There's a lot in there to consider.

viewtopic.php?p=4185162#p4185162

MotoTrojan
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Re: Nervous about staying the course

Post by MotoTrojan » Fri Oct 26, 2018 8:39 pm

bck63 wrote:
Fri Oct 26, 2018 7:11 pm

Thanks arcticpineapplecorp I started to read the wiki and will keep doing so. My taxable account is primarily the Vanguard Tax-Managed Balanced fund (50/50). And I'm using municipal bond funds to edge toward my allocation goal. So will have to learn alot more and see if tax-loss harvesting will apply to me. It's brand new to me.

Thanks again!
While technically possible, it is much better to hold individual funds (Total US, Total Int, ____ Bond) for tax-loss harvesting, so you can harvest into a similar partner, and harvest a deeper loss (sell the equity portion without the bond for example). You're less likely to have a loss, and also don't have as good of a partner to transfer into unless you split equity & bonds.

bck63
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Re: Nervous about staying the course

Post by bck63 » Fri Oct 26, 2018 8:46 pm

MotoTrojan wrote:
Fri Oct 26, 2018 8:39 pm
bck63 wrote:
Fri Oct 26, 2018 7:11 pm

Thanks arcticpineapplecorp I started to read the wiki and will keep doing so. My taxable account is primarily the Vanguard Tax-Managed Balanced fund (50/50). And I'm using municipal bond funds to edge toward my allocation goal. So will have to learn alot more and see if tax-loss harvesting will apply to me. It's brand new to me.

Thanks again!
While technically possible, it is much better to hold individual funds (Total US, Total Int, ____ Bond) for tax-loss harvesting, so you can harvest into a similar partner, and harvest a deeper loss (sell the equity portion without the bond for example). You're less likely to have a loss, and also don't have as good of a partner to transfer into unless you split equity & bonds.
Isn't Vanguard doing the tax-loss harvesting for me in VTMFX for that portion of my investment? I'm just using the intermediate tax-exempt bond funds to edge my allocation more toward bonds as the years go by.

MotoTrojan
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Re: Nervous about staying the course

Post by MotoTrojan » Fri Oct 26, 2018 8:53 pm

bck63 wrote:
Fri Oct 26, 2018 8:46 pm
MotoTrojan wrote:
Fri Oct 26, 2018 8:39 pm
bck63 wrote:
Fri Oct 26, 2018 7:11 pm

Thanks arcticpineapplecorp I started to read the wiki and will keep doing so. My taxable account is primarily the Vanguard Tax-Managed Balanced fund (50/50). And I'm using municipal bond funds to edge toward my allocation goal. So will have to learn alot more and see if tax-loss harvesting will apply to me. It's brand new to me.

Thanks again!
While technically possible, it is much better to hold individual funds (Total US, Total Int, ____ Bond) for tax-loss harvesting, so you can harvest into a similar partner, and harvest a deeper loss (sell the equity portion without the bond for example). You're less likely to have a loss, and also don't have as good of a partner to transfer into unless you split equity & bonds.
Isn't Vanguard doing the tax-loss harvesting for me in VTMFX for that portion of my investment? I'm just using the intermediate tax-exempt bond funds to edge my allocation more toward bonds as the years go by.
Not quite. This fund simply invests in stocks/bonds in a tax-efficient manner (some tax-exempt bonds, etc...) and rebalances daily. Just like any other mutual fund, Vanguard is exposed to capital gains/losses, but you are not directly benefiting from that (they are using it to manage tax distributions).

If you bought this at an all-time high, you would need to sell it and potentially buy something similar (ideally, so you aren't out of the market) to actually harvest the loss.

I wouldn't recommend getting too serious about TLH if you intend to stay with this fund. You'd be better off holding Total US Market and tax-exempt bond separately. If your tax-managed happens to be at a loss, you could make this swap now and that would actually be a tax-loss harvest in itself.

This doesn't include International equity by the way, not sure if that is something you intended to do overall (or maybe hold it elsewhere).

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arcticpineapplecorp.
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Re: Nervous about staying the course

Post by arcticpineapplecorp. » Fri Oct 26, 2018 9:31 pm

bck63 wrote:
Fri Oct 26, 2018 7:11 pm
arcticpineapplecorp. wrote:
Fri Oct 26, 2018 6:58 pm


That being said, what happens after you sell the asset at a loss is important. Follow the rules so as to not run afoul of the wash sale rule.

Does that help? Other questions?
Thanks arcticpineapplecorp I started to read the wiki and will keep doing so. My taxable account is primarily the Vanguard Tax-Managed Balanced fund (50/50). And I'm using municipal bond funds to edge toward my allocation goal. So will have to learn alot more and see if tax-loss harvesting will apply to me. It's brand new to me.

Thanks again!
I was wondering how you decided to go with the tax managed balanced fund exactly. Be sure to review this wiki page (link below) on tax-efficient fund placement:

https://www.bogleheads.org/wiki/Tax-eff ... _placement

While it lists a tax managed stock fund, a balanced fund is lower in efficiency (and it's mentioning index funds for that anyway as opposed to a tax managed balanced fund). While you're obviously trying to manage the tax efficiency realize that some index funds are very tax efficient and can be a suitable investment instead of a specifically tax managed fund.

It lists from most efficient to less efficient:

Efficient
Low-yield money market, cash, short-term bond funds
Tax-managed stock funds
Large-cap and total-market stock index funds
Balanced index funds
Small-cap or mid-cap index funds
Value index funds

Moderately inefficient
Moderate-yield money market, bond funds
Total-market bond funds
Active stock funds

Very inefficient
Real estate or REIT funds
High-turnover active funds
High-yield corporate bonds
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

Mr. Jelly
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Re: Nervous about staying the course

Post by Mr. Jelly » Fri Oct 26, 2018 10:47 pm

Next year it'll be worse. Almost everyone is telling us it will be. Taken as a whole with the understanding of how emotion rules the market I don't see how it can be ignored. Though it will be, until it isn't.

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