Search found 7063 matches

by Leesbro63
Thu May 13, 2021 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 626
Views: 157780

Re: If your net worth is over $3 million, how did you do it?

This is how I did it starting at age 27 1. ZERO debt by age 32. 2. Saved and invested 85% of my pay check. 3. Maxed out Roth and 401K. 4. Took risk in all stock portfolio with no bonds until age 50. 5. Took risk in real estate but did not chase real estate bubbles. Final Result: Retired, age 51 and...
by Leesbro63
Wed May 12, 2021 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

We were hit while on vacation. Other driver was at fault and had GEICO. When I asked about diminished value, the adjuster was willing to pay, but didn't have much basis. He offered the difference between a very clean and clean vehicle if it were totaled--- a few hundred bucks. Our Navigator was new...
by Leesbro63
Wed May 12, 2021 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

We were hit while on vacation. Other driver was at fault and had GEICO. When I asked about diminished value, the adjuster was willing to pay, but didn't have much basis. He offered the difference between a very clean and clean vehicle if it were totaled--- a few hundred bucks. Our Navigator was new...
by Leesbro63
Tue May 11, 2021 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

Look at carvana etc. I just did a test of our 2020 Subaru with one accident with $9,000 damage and without an accident. They offered 2,600 less for the same car with an accident. They'll send you a written estimate and you can give that to the insurance company. Now THAT is excellent "action s...
by Leesbro63
Tue May 11, 2021 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

As I understand, the most common rule applied is called a "17c" calculation...It's fairly simple, but based on an arbitrary formula rather than a market analysis. I reviewed this and agree with your analysis. But in the real world, something seems "off". Let's say we keep the ca...
by Leesbro63
Tue May 11, 2021 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

I'm going through this now in another state. You'll need to get a diminished value appraisal. Some state that they have gotten trade-in estimates from dealers which sufficed, but I doubt that works every time. I'm sure there's a ballpark number that is "rule of thumb". As I understand, th...
by Leesbro63
Tue May 11, 2021 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

I'm going through this now in another state. You'll need to get a diminished value appraisal. Some state that they have gotten trade-in estimates from dealers which sufficed, but I doubt that works every time. I'm sure there's a ballpark number that is "rule of thumb". There is a formula ...
by Leesbro63
Tue May 11, 2021 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

UPDATE: We got the accident report and the other guy was cited and charged for hitting us. Interestingly, both of us have USAA insurance. So how does that play with regard to the diminished value claim? Will USAA be more likely to deal easily because they will be dealing with their own insured, or w...
by Leesbro63
Tue May 11, 2021 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

MillennialFinance19 wrote: Tue May 11, 2021 1:32 pm I'm going through this now in another state. You'll need to get a diminished value appraisal. Some state that they have gotten trade-in estimates from dealers which sufficed, but I doubt that works every time.
I'm sure there's a ballpark number that is "rule of thumb".
by Leesbro63
Tue May 11, 2021 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Re: Diminished Value Car Accident Claim

Reviving this. So what IS the diminished value? My $32,500 car (3000 miles, 6 months old) has about $9000 damage. If we keep it for 3 years/40,000 miles, it would probably be worth about $18,000 if never wrecked. I'm guessing that the Car Fax ding will reduce that value by about $3000. Just my guess...
by Leesbro63
Mon May 10, 2021 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust - Pro's and Con's For Estate Planning
Replies: 50
Views: 3672

Re: Irrevocable Trust - Pro's and Con's For Estate Planning

Thanks to all for the very helpful comments. I am seriously thinking about going this route in order to shrink my estate while taking advantage of the current high gift/estate tax exclusion. Don't forget that in 1993, tax changes were made retroactive to Jan 1st. We can't discuss future tax possibi...
by Leesbro63
Sun May 09, 2021 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust - Pro's and Con's For Estate Planning
Replies: 50
Views: 3672

Re: Irrevocable Trust - Pro's and Con's For Estate Planning

... Bruce, your reply educated me! What if the grantor is deceased, but the trustee and beneficiary agree? For instance, say that grandpa’s trust for the grandkid doesn’t allow withdrawals until age 50. The trustee is the parent (grantor’s child, beneficiary’s parent) and he/she and the beneficiary...
by Leesbro63
Sun May 09, 2021 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust - Pro's and Con's For Estate Planning
Replies: 50
Views: 3672

Re: Irrevocable Trust - Pro's and Con's For Estate Planning

One additional question : Can you later amend an irrevocable trust? My gut tells me no because, as grantor, you no longer control the property in the trust. However, I am wondering what happens if, several years down the road, there is some major family or life change that might affect how you woul...
by Leesbro63
Sun May 09, 2021 9:11 am
Forum: Personal Finance (Not Investing)
Topic: California Homebuying Insanity
Replies: 243
Views: 21371

Re: California Homebuying Insanity

For what it's worth, I can remember having a conversation with a California relative back in 1989. The house they bought in 1979 had soared in value. I told the relative it's probably a bubble. And I was right! Prices went down. Then soared again and again. And I was wrong! Long term I was wrong. A...
by Leesbro63
Sun May 09, 2021 9:07 am
Forum: Non-US Investing
Topic: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stocks?
Replies: 10
Views: 893

Re: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stock

Nice to see you. After that 2000-2002 crash I got religion and became Boglehead. Yes. Born and raised here. If you can comfortly pay your bills CR is hard to beat. Perfect? No. But when I see a triple rainbow in the sky. Or watch the lava drip off of Arenal volano. I say to myself YEAH. "Thank...
by Leesbro63
Sun May 09, 2021 8:32 am
Forum: Non-US Investing
Topic: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stocks?
Replies: 10
Views: 893

Re: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stock

Yes. I probably should add "Simplicity is Bliss" to my signiture. But that would complicate it. Top of the AM to you. "Galeno, I know what "KISS" is. What is "STC"? Stay the course?" Thank you. I remember you from the Motley Fool boards of about 25 years ago....
by Leesbro63
Sun May 09, 2021 8:31 am
Forum: Personal Finance (Not Investing)
Topic: California Homebuying Insanity
Replies: 243
Views: 21371

Re: California Homebuying Insanity

For what it's worth, I can remember having a conversation with a California relative back in 1989. The house they bought in 1979 had soared in value. I told the relative it's probably a bubble. And I was right! Prices went down. Then soared again and again. And I was wrong! Long term I was wrong. Al...
by Leesbro63
Sun May 09, 2021 8:22 am
Forum: Non-US Investing
Topic: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stocks?
Replies: 10
Views: 893

Re: If majority of stocks under-perform T-Bills than how does LEXCX perform very similar to S&P 500 when it has 30 stock

Well said. ^ and something to keep in mind about market cap "deciles" is it takes very few stocks to make up the larger deciles. The top decile of the U.S. stock market right now would be composed of 2 stocks. There have been times in history when it would be only 1 stock. Most of the tim...
by Leesbro63
Sun May 09, 2021 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Taxes & Brokerage Bonus
Replies: 40
Views: 2287

Re: Taxes & Brokerage Bonus

I've been playing the brokerage bonus game for years. Usually it's reported on a 1099-Misc and I report it the same on my tax return, as "other income". I would imagine the IRS computer could generate an inquiry letter if it saw 1099-misc income that was not reported by the taxpayer, even ...
by Leesbro63
Sun May 09, 2021 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Do the top 1% earn most of their income through investments?
Replies: 18
Views: 2277

Re: Do the top 1% earn most of their income through investments?

I've seen discussions about the upper half of the top 1% and the lower half. I'm wondering where the net worth and income numbers are that separate the two?

Probably the more relevant number is the top .1% of the top 1% versus the top .9% of the top 1%.
by Leesbro63
Fri May 07, 2021 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust - Pro's and Con's For Estate Planning
Replies: 50
Views: 3672

Re: Irrevocable Trust - Pro's and Con's For Estate Planning

No one knows what the law will be in the future. However, if you can afford to do so, if you and your spouse can afford to give away $23.4 million, you'll take advantage of the current estate and gift tax exclusion amounts, and you'll get the future income and growth on it during your lifetime out ...
by Leesbro63
Wed May 05, 2021 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited trust question
Replies: 20
Views: 1335

Re: Inherited trust question

Perhaps your wife could disclaim the trust, in which case it would go to the "next in line". If you have children and the trust has a "per stirpes" clause it would go to your children. However, if it doesn't have that clause it would go to the other beneficiaries. How does that ...
by Leesbro63
Wed May 05, 2021 1:44 pm
Forum: Investing - Theory, News & General
Topic: Paul Merriman was on The Rational Reminder Podcast
Replies: 10
Views: 1808

Re: Paul Merriman was on The Rational Reminder Podcast

I'm curious about what he said about target date funds. He mentioned a study that compared target date fund holders to non-TDF and said that the difference in return was 2.3% a year. Does anyone have any insight on this comment? Is it mainly because of behavioral issues that TDF holders outperforme...
by Leesbro63
Wed May 05, 2021 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited trust question
Replies: 20
Views: 1335

Re: Inherited trust question

Just as an aside, below what level does it make sense to absolutely avoid a bank or other fiduciary to be the trustee? It would seem that $650,000 is too little to justify the fees etc. I understand that sometimes you need an unrelated 3rd party regardless.
by Leesbro63
Wed May 05, 2021 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 24
Views: 1549

Diminished Value Car Accident Claim

OK, so this morning we got rear ended in our five month old 2021 Subaru Crosstrek with 3000 miles. Fortunately, I don't think we are injured. I'm guessing that this $32,500 car has about $7000ish damage. Just a rough guess. The state trooper said she was faulting the other driver and our USAA insura...
by Leesbro63
Tue May 04, 2021 9:52 am
Forum: Investing - Theory, News & General
Topic: Paul Merriman was on The Rational Reminder Podcast
Replies: 10
Views: 1808

Re: Paul Merriman was on The Rational Reminder Podcast

Great podcast. I still wonder about small cap value. Even if the SCV guys are right in the very long run, Bogle might be "more right" that most investors won't stay the course when SCV underperforms the S&P500 for long periods.
by Leesbro63
Mon May 03, 2021 9:36 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2900
Views: 462525

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me. What RH episode ? I don't have an account in RH, but I believe they have insurance up to $1.5M. I question their business practices such as selling order flow, video game-izing o...
by Leesbro63
Sat May 01, 2021 1:13 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2900
Views: 462525

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I wouldn’t feel safe putting more than the SPIC insured amount in M1. The recent Robinhood episode confirms that for me.
by Leesbro63
Fri Apr 30, 2021 12:08 pm
Forum: Personal Consumer Issues
Topic: Should I Buy An Electric Car? How Will It Work?
Replies: 64
Views: 2807

Should I Buy An Electric Car? How Will It Work?

Should I buy an electric car? I just can't see how it will work. It seems that General Motors just announced that they will convert a few of their big plants to build EVs. Which would suggest that the average American will soon be buying them. Anyway, I sometimes drive to see family about 400 miles ...
by Leesbro63
Fri Apr 30, 2021 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Please Help - No Beneficiary Listed on Deceased IRA
Replies: 31
Views: 3226

Re: Please Help - No Beneficiary Listed on Deceased IRA

I would double check that no beneficiary was listed. Periodically I check with the financial institutions where I have IRAs and sometimes the beneficiary designation gets lost when they change computer systems or whatever. This has happened several times at different places, so now I check from tim...
by Leesbro63
Fri Apr 30, 2021 6:43 am
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Investing "Rules" Have Changed During the Tenure of This Forum?

Take a look at the 1996 Form 5329. There was actually a 15% penalty on taking more than $155,000 out of an IRA or other retirement plan in a single year. So I wonder if those in their 90s, with many millions in their IRA, or both, might end up having their RMDs not only force them into the top tax ...
by Leesbro63
Thu Apr 29, 2021 5:17 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Investing "Rules" Have Changed During the Tenure of This Forum?

I agree with the above. One observation of many years of posts here: Lots of "100% stocks" posts during bull runs and lots of bond discussion posts during bear markets. Lots of recency.
by Leesbro63
Tue Apr 27, 2021 2:54 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Rules Have Changed During the Tenure of This Forum?

Re Tax Law Changes: The recent changes to the inherited IRAs should be teaching us that tax advantaged accounts have some new issues to be considered once they get to a certain size. The new rule now makes heirs have to move the whole IRA into taxable by 10 years after inheriting. If you have a sev...
by Leesbro63
Tue Apr 27, 2021 2:50 pm
Forum: Personal Consumer Issues
Topic: Magic Cards: How to sell with taxes in mind?
Replies: 49
Views: 4785

Re: Magic Cards: How to sell with taxes in mind?

I must be living under a rock. What are "magic cards"? I did Google them and they appear to be Millennial or GenX thing. Sorry...I'm just an out of touch Boomer!
by Leesbro63
Tue Apr 27, 2021 12:21 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Investing "Rules" Have Changed During the Tenure of This Forum?

I think the discussion about owning international stock equity funds highlights a broader point: During the 25ish years of Bogleheads, the securitization of everything has given us better diversification choices. REITS became securitized around 1999 or so and helped me be diversified through the 200...
by Leesbro63
Tue Apr 27, 2021 12:17 pm
Forum: Personal Investments
Topic: Jonathan Clements clarification
Replies: 20
Views: 3180

Re: Jonathan Clements clarification

Putting stocks in Roth is a way to increase your stock asset allocation without seeming like you've increased your stock allocation. I do it too. How so? Retiring when touched on it. Basically the real allocation would be an after tax allocation. By having stocks in Roth, you have more in stocks th...
by Leesbro63
Tue Apr 27, 2021 6:19 am
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Rules Have Changed During the Tenure of This Forum?

But it used to be I would tell people to rollover their employer 401ks/403bs to their own IRA because of 1) greater investment options and 2) almost always better fees. Now, there is usually at least one low cost fund in many employer plans (there are certainly exceptions!). Also, pre-tax amounts i...
by Leesbro63
Tue Apr 27, 2021 6:16 am
Forum: Personal Investments
Topic: Jonathan Clements clarification
Replies: 20
Views: 3180

Re: Jonathan Clements clarification

Putting stocks in Roth is a way to increase your stock asset allocation without seeming like you've increased your stock allocation. I do it too. How so? If you do a marginal tax adjustment for taxable, tax deferred and Roth accounts, Roth has zero discount, Tax Deferred is discounted by your margi...
by Leesbro63
Mon Apr 26, 2021 7:14 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Investing "Rules" Have Changed During the Tenure of This Forum?

windaar wrote: Mon Apr 26, 2021 7:12 pm At some point "age in bonds" was no longer a considered good idea, though I still go by that rule because it is simple and works for me.
Excellent memory. Yes, that rule was a “given”, but we’ve moved away from that. Great example of what I was looking for.
by Leesbro63
Mon Apr 26, 2021 7:11 pm
Forum: Personal Investments
Topic: Jonathan Clements clarification
Replies: 20
Views: 3180

Re: Jonathan Clements clarification

JBTX wrote: Mon Apr 26, 2021 5:31 pm Putting stocks in Roth is a way to increase your stock asset allocation without seeming like you've increased your stock allocation. I do it too.
How so?
by Leesbro63
Mon Apr 26, 2021 5:07 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Rules Have Changed During the Tenure of This Forum?

No longer supports polls. lol. When I first read the title of this thread I also thought they meant which FORUM rules had changed over the life of Boglehead's forums. But his example shows they meant which investing rules (or rules of thumb) have changed. :D Glad someone got it. :sharebeer I should...
by Leesbro63
Mon Apr 26, 2021 4:51 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

Re: What Rules Have Changed During the Tenure of This Forum?

No longer supports polls. lol. When I first read the title of this thread I also thought they meant which FORUM rules had changed over the life of Boglehead's forums. But his example shows they meant which investing rules (or rules of thumb) have changed. :D Glad someone got it. :sharebeer I should...
by Leesbro63
Mon Apr 26, 2021 3:36 pm
Forum: Personal Investments
Topic: Jonathan Clements clarification
Replies: 20
Views: 3180

Re: Jonathan Clements clarification

I assume he has paid his daughter's mortgage and considers her ability to repay at probably 3-4% to behave like his bonds with similar risk and return profiles while also provide benefit to his daughter. If I remember correctly, he actually issued a private (person to person) mortgage to his daught...
by Leesbro63
Mon Apr 26, 2021 3:27 pm
Forum: Investing - Theory, News & General
Topic: What Investing "Rules" Have Changed During the Tenure of This Forum?
Replies: 98
Views: 9611

What Investing "Rules" Have Changed During the Tenure of This Forum?

I just posted on another thread about how it might make a lot of sense to put stocks into a ROTH IRA and to put taxable bonds in a taxable non-tax sheltered account. Because interest payments are now puny and capital gains taxes are as high as 24%. It made me wonder...what other investing "rule...
by Leesbro63
Mon Apr 26, 2021 3:17 pm
Forum: Personal Investments
Topic: Jonathan Clements clarification
Replies: 20
Views: 3180

Re: Jonathan Clements clarification

I assume he has paid his daughter's mortgage and considers her ability to repay at probably 3-4% to behave like his bonds with similar risk and return profiles while also provide benefit to his daughter. If I remember correctly, he actually issued a private (person to person) mortgage to his daught...
by Leesbro63
Mon Apr 26, 2021 12:02 pm
Forum: Investing - Theory, News & General
Topic: 'The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble' - GMO
Replies: 217
Views: 25970

Re: 'The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble' - GMO

What if interest rates start rising and the Fed has to buy the bonds to keep rates down? Inflation rises and stocks keep going, perhaps only in nominal terms. That would be my guess as to the scenario where GMO could be wrong. In other words, maybe we are past the point of no return with regards to...
by Leesbro63
Mon Apr 26, 2021 11:56 am
Forum: Investing - Theory, News & General
Topic: 'The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble' - GMO
Replies: 217
Views: 25970

Re: 'The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble' - GMO

What if interest rates start rising and the Fed has to buy the bonds to keep rates down? Inflation rises and stocks keep going, perhaps only in nominal terms. That would be my guess as to the scenario where GMO could be wrong. In other words, maybe we are past the point of no return with regards to ...
by Leesbro63
Mon Apr 26, 2021 8:35 am
Forum: Personal Investments
Topic: Legacy Strategy: Reducing One's Estate
Replies: 36
Views: 3672

Re: Legacy Strategy: Reducing One's Estate

I don’t know if this is on the table, but you could eventually move to a state with no estate tax. The move itself would more than pay for the new house - in terms of avoided state estate taxes. Maybe you have family and friends where you live, but who knows 10 or 20 years from now? The savings cou...
by Leesbro63
Sun Apr 25, 2021 2:01 pm
Forum: Personal Consumer Issues
Topic: Why leasing a new car is always the best option even if you intend to keep it forever
Replies: 158
Views: 15623

Re: Why leasing a new car is always the best option even if you intend to keep it forever

What about dings and dents? If you lease, you'll get charged for repair upon turn in. Own and you can decide whether or not to fix it. I’m not a fan of the OP’s idea here, but with regard to dings and dents, the OP is right. If you lease to purchase, there’s no penalty for dings and dents. You buy ...
by Leesbro63
Sun Apr 25, 2021 1:55 pm
Forum: Personal Investments
Topic: Legacy Strategy: Reducing One's Estate
Replies: 36
Views: 3672

Re: Legacy Strategy: Reducing One's Estate

I believe the IRS has ruled (in 2019) if a person makes large gifts, and the exemption amount is reduced in a later year to an amount below the value of the previous gifts, those gifts would be grandfathered and no tax will be due. If a lower estate threshold is passed this year it might be retroac...