Minnesota BH Fall Main Meeting 10/27/18

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Fallible
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Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Mon Sep 10, 2018 12:53 pm

Save the date and note the new meeting location!

Hello Financial Friends!

Autumn is falling into place and we are gearing up for the Main Meeting next month. Please mark your calendars for Saturday 10/27/2018 in the morning from 9:30 to 11:30am. The new meeting location is the Ridgedale Library, Rohlf Room, first floor, 12601 Ridgedale Drive, Minnetonka, MN. The meeting agenda is in a separate post below.

This meeting truly has something for everyone! Following a briefing on the important 2018 tax law changes, the agenda will be rich with many breakout sessions covering robust topics for the beginner investor to the seasoned saver looking to refine his or her portfolio. Get your financial muscles in shape for the end of the year and come visit with your Boglehead Buddies. We've missed seeing you this summer!

And for those of you who like podcasts, watch the forum for Rick Ferri's announcement on the 1st Bogleheads On Investing podcast w/ Jack Bogle himself!
viewtopic.php?f=10&t=258540&newpost=4111241

Looking forward to seeing you next month!

Minnesota Bogleheads
Visit us at www.Bogleheads.org

EDIT: Updates with agenda now posted below.
Last edited by Fallible on Fri Sep 28, 2018 6:15 pm, edited 2 times in total.
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Fallible
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Thu Sep 27, 2018 5:08 pm

Fallible wrote:
Mon Sep 10, 2018 12:53 pm
Save the date and note the new meeting location!

Hello Financial Friends!

Autumn is falling into place and we are gearing up for the Main Meeting next month. Please mark your calendars for Saturday 10/27/2018 in the morning from 9:30 to 11:30am. The new meeting location is the Ridgedale Library, Rohlf Room, first floor, 12601 Ridgedale Drive, Minnetonka, MN. The meeting agenda will be available here by Oct. 1.

This meeting truly has something for everyone! Following a briefing on the important 2018 tax law changes, the agenda will be rich with many breakout sessions covering robust topics for the beginner investor to the seasoned saver looking to refine his or her portfolio. Get your financial muscles in shape for the end of the year and come visit with your Boglehead Buddies. We've missed seeing you this summer!

And for those of you who like podcasts, watch the forum for Rick Ferri's announcement on the 1st Bogleheads On Investing podcast w/ Jack Bogle himself!
viewtopic.php?f=10&t=258540&newpost=4111241

Looking forward to seeing you next month!

Minnesota Bogleheads
Visit us at www.Bogleheads.org
EDITS again with agenda now posted below.
Last edited by Fallible on Fri Sep 28, 2018 6:17 pm, edited 1 time in total.
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Peter Foley
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Fri Sep 28, 2018 5:17 pm

The format for this meeting will be a bit different from the last few. There will be a short presentation and two breakout sessions with about a half dozen topics to choose from in each session. More details to come soon.

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Fri Sep 28, 2018 5:53 pm

UPDATING with the Agenda for the Minnesota Bogleheads Fall Main Meeting, Saturday, October 27, 2018, 9:30-11:30 AM, at the newly renovated Ridgedale Library, Rohlf meeting room, 12601 Ridgedale Drive, Minnetonka, MN.
Map to Ridgedale: https://goo.gl/maps/RfjeU4RitMm


AGENDA:

9:30 Introduction: Welcome, opening remarks, splinter group update [Diann]

9:40 15-Minute Brief: 2018 Tax Reform: Basic overview of changes as we approach end-of-year [Dick]

10:00 Breakout Session 1: 40 minutes in length; choose one topic/table to attend and participate

10:40 5-minute break

10:45 Breakout Session 2: 40 minutes in length, choose one topic/table to attend and participate

11:25 Wrap Up: Please return chairs and tables. Thanks for attending!


15-MINUTE BRIEF: 2018 TAX REFORM - PRESENTER: DICK S

Whenever tax laws change, it’s natural to wonder how it’s going to affect you. The recent passing of the Tax Cuts and Jobs Act of 2017 is a massive change to our tax system, and it will likely take years before its far-reaching impacts are fully understood. Let’s walk through some of the most significant changes and what they could mean for you, as you plan for your 2018 taxes. This brief overview will be high-level, with a more detailed breakout session available if you wish to learn more.


BREAKOUT SESSION 1 (10:00 to 10:40am: Breakout Tables located in the Rohlf Meeting room, hallway, and Ladyslipper Room 275)

A. Diann - Health Savings Accounts (HSAs) as a Stealth Investment Vehicle

B. Phil - Book Review: The Bogleheads' Guide to the Three-Fund Portfolio by Taylor Larimore (2018)

C. Chris - Asset Class Returns: What can you reasonably expect?

D. Lee - A Healthy Way to be Overweight: The Rationale for Favoring the Health Care Sector in your Non-Core Holdings

E. Tom - Estate Planning: From the Basics to the Complex

F. Bonnie - Preparing For Retirement: "My Story" - practical tips and resources


BREAKOUT SESSION 2 (Breakout tables located in the Rohlf Meeting room, hallway, and Ladyslipper Room 275.)

A. Dick - Sharpen Your Financial Know-How with this 25-Question Quiz

B. Andrew - Financial Topics For Beginners

C. Chris - Investment Lessons From History: The Breakout

D. Sandra & Diane - Tax-Loss Harvesting in Taxable
Accounts

E. Chip - Tax Reform: Preparing for Your 2018 Tax Returns

F. Tom - Roth IRAs: To Roth or Not to Roth, That is the question


UPCOMING MEETINGS - Contact information. Online resources.

BH Main Group Fall/Winter/Spring | Saturday mornings | Local libraries | mnbogleheads@gmail.com

BH East Group Dec 1 | Caribou, 3100 White Bear Ave | no pre-set agendas | Still Phil | buckp@mac.com

BH West Group Jan TBD | west sub libraries | Saturdays | Sandra | MNWestinvest@gmail.com

Facebook MN Bogleheads | sign up for closed group | check for updates and local information

Bogleheads.org national forum and Wiki | Index index.php

John C. Bogle Center for Financial Literacy https://boglecenter.net/ | non-profit that helps support the forum, Wiki
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Financial Engineer
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Financial Engineer » Fri Sep 28, 2018 9:07 pm

What a great lineup! See you at Ridgedale Library everyone.
Do you think the market is pricey? S&P 500 CAGR from 1929 peak (CAPE = 32.6) to 1982 low (CAPE = 6.7) was 3.8% real (7.3% nominal). Stay the course.

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Peter Foley
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Sat Sep 29, 2018 7:35 pm

The Roth IRA topic is really broad and it would be helpful to know what facets of Roths and Roth conversions are most of interest.

In a very broad sense here are potential subtopics:
1. Would you invest differently in a Roth?
2. Why would you do a Roth conversion? (Multiple possibilities here.)
3. How do you do it cost effectively?
4. What are some pitfalls and negative consequences?
5. What are the rules for accessing Roth contributions, Roth earnings, and Roth conversions w/o tax or penalty?

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Sun Sep 30, 2018 6:48 pm

NOTE: We will continue adding to the posted agenda more detailed descriptions of the breakouts. Below are descriptions from Chris, moderator of two breakouts:

Title: Investment Lessons From History - The Breakout

Description: I will review several of my favorite slides from my main presentation at the last MN Bogleheads meeting on 4/28/18. The point will be to offer the breakout participants a chance to ask any questions they may have with more time than was available after the presentation.


Title: Asset Class Returns – What Can you Reasonably Expect?

Description: A primer on what contributors to asset class performance are observable in the present, how mean reversion can be accounted for, and how using them both together can bracket a range of reasonable outcomes for future returns. Stocks, Bonds and Real Estate returns will be discussed.
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Peter Foley
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Sat Oct 06, 2018 7:08 pm

A timely breakout will be on the topic of tax law changes. Federal tax law changed for 2018, Minnesota tax law did not.

Breakout description:

Title: Tax reform. Preparing for your 2018 tax return
Description: We will review the tax reform law passed last year and look at how it is likely to impact your returns next year. Please bring questions and suggestions.

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Wed Oct 10, 2018 4:20 pm

The Minnesota Department of Revenue has updated their website in anticipation of the 2018 tax filing season. Copied from an e-mail I received:

Minnesota Department of Revenue
October 9, 2018: Minnesota Department of Revenue Updates 2019 Filing Season for Tax Year 2018 FAQ
Minnesota Department of Revenue sent this bulletin at 10/09/2018 04:17 PM CDT
October 9, 2018: Minnesota Department of Revenue Updates 2019 Filing Season for Tax Year 2018 FAQ

Since the end of the 2018 Legislative Session, the Minnesota Department of Revenue has been working to update the state tax filing systems for taxpayer use in 2019. This process happens annually, starting after the end of the legislative session. This year, we are updating the tax filing systems to accommodate the differences between the federal and Minnesota tax laws. There were significant revisions to the federal tax laws, but Minnesota’s tax laws have not significantly changed.

Updated FAQs
We have updated our 2019 Filing Season for Tax Year 2018 FAQs with answers to some of your questions. We have also reorganized the FAQs to make them easier to use.
http://www.revenue.state.mn.us/Pages/Ta ... -FAQs.aspx

Final Draft Forms
We have posted final drafts 2018 Minnesota tax forms and instructions for software developer use on our website.
http://www.revenue.state.mn.us/tax_prof ... -Form.aspx

NOTE: These forms are subject to change. Do not use these forms to file returns.

For more information about the 2019 filing season, see our Tax Law Changes webpage. http://www.revenue.state.mn.us/Pages/law_changes.aspx

Fallible
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Thu Oct 11, 2018 8:49 pm

As promised, here are more detailed descriptions of two more breakouts, both on taxes (full agenda above):

Sandra & Diane
Title:  Tax loss harvesting in taxable accounts. 
Description: Use this tax deferral strategy to offset capital gains with losses, and avoid pitfalls like wash sales.

Chip
Title: Tax reform. Preparing for your 2018 tax return
Description: We will review the tax reform law passed last year and look at how it is likely to impact your returns next year.  Please bring questions and suggestions.
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Jazzysoon
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Jazzysoon » Mon Oct 15, 2018 11:33 am

Thank You for organizing this, I know it can take a bit of time to put events together. I'm a newer BH and am looking forward to attending.

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Mon Oct 15, 2018 3:38 pm

Jazzysoon wrote:
Mon Oct 15, 2018 11:33 am
Thank You for organizing this, I know it can take a bit of time to put events together. I'm a newer BH and am looking forward to attending.
Great! "Newer" is even better.
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Sat Oct 20, 2018 5:25 pm

Additional details regarding two of the breakout sessions:

Lee

Title: A Healthy Way to be Overweight: The Rationale for Favoring the Health Care Sector in your Non-Core Holdings.

Description: Participants in this breakout session will be given the back story on why one might favor the healthcare sector for a portion of one's portfolio.

Phil
Title: Book Review: The Bogleheads' Guide to the Three-Fund Portfolio.

Description: In this breakout, we will discuss Taylor Larimore's 2018 publication The Bogleheads' Guide to the Three-Fund Portfolio: How a Simple Portfolio of Three Total Market Index Funds Outperforms Most Investors with Less Risk. In this breakout session, participants will discuss how an all-indexed portfolio of over 15,000 worldwide securities in 3 easily-managed funds has outperformed the vast majority of professional and amateur investors. Participants may be new investors or experienced ones seeking to simplify or improve a portfolio.

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Mon Oct 22, 2018 7:24 pm

For beginning Bogleheads and those getting ready for retirement, here's more information on those breakouts from the meeting agenda above:

Andrew
Breakout Title: Financial Topics for Beginners

Description: "Where do Bogleheads (and aspiring Bogleheads) Start? Breaking down the Boglehead Philosophy; a 10-step guide to gaining financial freedom, with a particular focus on how our evolved brains are perhaps our biggest impediment to reaching our financial goals.

Bonnie
Title: Preparing For Retirement – “My Story” – Practical Tips and Resources

Description: How Bonnie Hill MD, age 66, along with her husband, prepared for retirement. This will include their approach to saving, asset allocation, creation of a retirement financial plan, healthcare, Social Security, and long term care insurance. A handout of practical tips and resources will be provided.
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Wed Oct 24, 2018 10:31 pm

Here are additional details of two more meeting breakouts on health savings accounts, and a 25-question quiz:

Diann
Title: Health Savings Account as a Stealth Investment Vehicle.

Description: This breakout will discuss the mechanics of using Health Savings Accounts (HSAs) as an additional investment vehicle by making regular tax-free contributions (2018 limits: $3,450 individual, $6,900 family and $1,000 additional catch-up for 55+) and minimizing withdrawals for current medical expenses. In retirement, maximize the triple-tax benefit of tax-free contributions, tax-free growth and tax-free withdrawals for past medical expenses. Discussion of different HSA custodians and investment opportunities will take place as time permits. 

Dick
Title: Sharpen Your Financial Know-How with this 25-Question Quiz

Description: Think you're a smart investor? How you invest and how you react to market conditions can make a big difference in your success. Put your instincts to the test with this 25-question quiz. We’ll briefly discuss the answer to each question.
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Thu Oct 25, 2018 8:02 pm

Breakout update: Tax Reform preparing your 2018 tax return. Patrick,a tax preparer and volunteer with Prepare and Propser, will be doing the breakout instead of Chip.

Roth IRA breakout:

With the hope that the discussion will get beyond the basics of a Roth and center more on Roth conversions issues, I offer these basics/rules of thumb in advance.

Contributions: It is generally recommended that one save for retirement using a Roth when one is currently in a low tax bracket. However, if you are working and in a high income bracket and wish to boost your retirement savings, making a non-deductible IRA contribution and converting it to a Roth annually is also recommended. Caution here – all IRAs are counted as a single IRA and you may not want to pursue this strategy if you have a mix of pre-tax and post-tax money in your IRAs.

Roth investments: Because both contributions and earnings may be withdrawn without tax, there is a preference for holding assets with historically higher yields (stocks, not bonds) in the Roth. However, if space is lacking for one’s bond allocation in an IRA or other tax deferred account (401k), or if expenses ratios are high in an employer’s plan, it is acceptable to hold some bonds in a Roth.

Discussion of tax free and penalty free access to Roth funds - contributions, conversions, and earnings – will be discussed during the breakout session.

Recharacterization of Roth conversions, but not contributions, was eliminated by 2018 tax law.

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by LaurieAnnaT » Fri Oct 26, 2018 4:00 pm

***. IMPORTANT ***

For folks driving through Bloomington and Eden Prairie on Saturday morning:

Westbound I-494 will be CLOSED this weekend in Bloomington and Eden Prairie from Hwy 100 to Hwy 212.

Plan your drive accordingly!

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Fallible » Fri Oct 26, 2018 5:39 pm

LaurieAnnaT wrote:
Fri Oct 26, 2018 4:00 pm
***. IMPORTANT ***

For folks driving through Bloomington and Eden Prairie on Saturday morning:

Westbound I-494 will be CLOSED this weekend in Bloomington and Eden Prairie from Hwy 100 to Hwy 212.

Plan your drive accordingly!
Thanks for the heads-up. Here's more from the DOT (scroll down for I-494 detours):

http://www.dot.state.mn.us/weekendtrafficimpacts/
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by a2z » Fri Oct 26, 2018 6:15 pm

So...I'll be leaving a bit earlier tomorrow morning. Thanks for the highway update.

a2z

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Peter Foley
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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Peter Foley » Sun Oct 28, 2018 10:38 pm

A brief update for those who are following this thread and attended the meeting.

The headcount of attendees was 110, the largest meeting ever and the first one to break the century mark.

If you are on the MN Bogleheads e-mail list you should be receiving copies of handouts/moderator notes from the breakout sessions within a few days.

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Re: Minnesota BH Fall Main Meeting 10/27/18

Post by Dottie57 » Sun Oct 28, 2018 11:51 pm

The topics were good. Really appreciated session on Roth conversion!

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