Search found 13913 matches

by tibbitts
Mon Jun 21, 2021 9:56 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

I appreciate your thoughtfulness, but my dad has a fairly thick skin. Actually I already told him that he suffered a massive opportunity cost by not watching his previous FA more closely. In his case, the cost was not a 2% fee but instead a large cash position. He didn't seem to care because he has...
by tibbitts
Mon Jun 21, 2021 5:49 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

The OP seems to be open the sales pitch, that's why I was advocating for him to "show his work" and be transparent. Not so he can win a debate with the guy. You really seem to be an apologist for a Financial Advisor that's openly saying he he's an amazing stock picker in the small cap spa...
by tibbitts
Mon Jun 21, 2021 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: SSA Request for Reconsideration of Monthly Benefits
Replies: 8
Views: 643

Re: SSA Request for Reconsideration of Monthly Benefits

Meeshigan wrote: Mon Jun 21, 2021 11:54 am I had planned to do that, but on second thought figured that if that is the same software used by the SSA examiner it should of course generate the same number...
That would be pretty amusing if SSA employees used ssa.tools.
by tibbitts
Mon Jun 21, 2021 12:31 pm
Forum: Personal Consumer Issues
Topic: External hard drive to back up photos
Replies: 26
Views: 1564

Re: External hard drive to back up photos

Someone will correct me if I'm wrong but the last I looked, at greater than 2tB, you have to go to 4tB (I have an older 3tB hdd but those were always the exception), so roughly $100 for an external 4tB hdd vs. $600 for ssd? And you do need at least two. Hdds seem to do pretty well after being unuse...
by tibbitts
Mon Jun 21, 2021 12:02 pm
Forum: Personal Consumer Issues
Topic: External hard drive to back up photos
Replies: 26
Views: 1564

Re: External hard drive to back up photos

Someone will correct me if I'm wrong but the last I looked, at greater than 2tB, you have to go to 4tB (I have an older 3tB hdd but those were always the exception), so roughly $100 for an external 4tB hdd vs. $600 for ssd? And you do need at least two. Hdds seem to do pretty well after being unused...
by tibbitts
Mon Jun 21, 2021 2:21 am
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

I'm not really interested in winning an argument with a salesman, you're just wasting everyone's time. But some clients really do believe these people "outperform" and that's why they pay them to manage their money. So let them show that outperformance. In the OP's situation, the guy is t...
by tibbitts
Mon Jun 21, 2021 1:28 am
Forum: Personal Investments
Topic: Texas TRS and early retirement
Replies: 3
Views: 603

Re: Texas TRS and early retirement

I'm not with TRS in TX, but my other-state TRS pension experience is that you should verify every answer multiple times by email, and request whatever written reports or confirmations you can. I did end up with incorrect/incomplete information about two aspects of my particular pension account, cost...
by tibbitts
Sun Jun 20, 2021 11:10 pm
Forum: Personal Consumer Issues
Topic: Tire flat fixing for beginners
Replies: 153
Views: 7462

Re: Tire flat fixing for beginners

On the subject of FixAFlat ruining the inside of the tire, when was the last time anyone had a tire repaired instead of replaced anyway? Do any major service chains even offer that anymore? It doesn't seem like it to me. Tires are still repaired all the time due to punctures. Punctures are extremel...
by tibbitts
Sun Jun 20, 2021 9:54 pm
Forum: Investing - Theory, News & General
Topic: Pension complexity/obscurity of investments
Replies: 8
Views: 736

Re: Pension complexity/obscurity of investments

I am trying to understand something contradictory. Index investing for the average investor is the best route for return on investment to date. I currently contribute to 2 state defined contribution plans, the 457b and 401k, but also to a pension (defined benefit plan) with CALPERS. I do not unders...
by tibbitts
Sun Jun 20, 2021 9:06 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

Stockpicking in small caps is appropriate for an 80-year-old who probably doesn’t understand the risks and fees? Is your dad entirely in individual stocks? Of course stockpicking is totally inappropriate for an 80-year old who isn't even interested in learning about securities. The question is whet...
by tibbitts
Sun Jun 20, 2021 7:01 pm
Forum: Personal Consumer Issues
Topic: External hard drive to back up photos
Replies: 26
Views: 1564

Re: External hard drive to back up photos

Raybo wrote: Sun Jun 20, 2021 6:22 pm Use a flash drive. Easier, much more mobile, and no need for wires.
A greater-than-2tB model is still pricey vs. a spinning disk.

I'm needing to upgrade beyond my 2tB externals and am hoping not to run out of space before prices on 4tB solid state devices come down.
by tibbitts
Sun Jun 20, 2021 6:59 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

Ask the FA to show his performance (net of fees) and then compare to a benchmark like the S&P500 in the same years. You won't hear anything back, but it's fun to watch them squirm. Honestly, it really is just a waste of time, and even if he could show a slight outperformance (he won't) that bea...
by tibbitts
Sun Jun 20, 2021 6:48 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

Yes and no. He did a POA but not the durable variety that would give me full control. I'm not an attorney but I don't believe being durable has any effect on the degree of control you have today, since you haven't indicated there is an issue of incapacity here, or that there is likely to be in the ...
by tibbitts
Sun Jun 20, 2021 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: IRS online account sign up issues
Replies: 5
Views: 434

Re: IRS online account sign up issues

I had the same issue. It turns out my cell phone is on our account that is in my wife’s name. Since the primary name on the return (me) didn’t match the name on the phone account it was unverifiable. In my case all three are in my name. Now, why I have three with three carriers is another story. Oh...
by tibbitts
Sun Jun 20, 2021 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: IRS online account sign up issues
Replies: 5
Views: 434

Re: IRS online account sign up issues

We did our taxes back in February. No refund yet. About a month ago the IRS asked for more information. Our CPA said it was part of a identity theft audit. I've tried to create an account with the IRS online, a bit tough to do. They want a cell phone, the system did not accept our cell phone. Might...
by tibbitts
Sun Jun 20, 2021 2:36 pm
Forum: Personal Consumer Issues
Topic: Tire Selection Advice Requested
Replies: 33
Views: 1715

Re: Tire Selection Advice Requested

My Yokohamas are the best tires that I've ever had. Looks like I should consider Yokohamas. You shouldn't think so much in terms of manufacturer; you need to think in terms of specific tire models. Most brands have some winners and losers among their models, and not all models work equally well on ...
by tibbitts
Sun Jun 20, 2021 1:05 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

Ask the FA to show his performance (net of fees) and then compare to a benchmark like the S&P500 in the same years. You won't hear anything back, but it's fun to watch them squirm. Honestly, it really is just a waste of time, and even if he could show a slight outperformance (he won't) that bea...
by tibbitts
Sun Jun 20, 2021 12:14 pm
Forum: Personal Consumer Issues
Topic: Tire Selection Advice Requested
Replies: 33
Views: 1715

Re: Tire Selection Advice Requested

One fairly new category to look at is "all weather" tires. They have the wear characteristics of all-season but some (not all) of the performance of a true winter tire. The Goodyear Assurance Weatherready, for example, is severe snow certified but lasts 60k miles (YMMV). We have them on b...
by tibbitts
Sun Jun 20, 2021 9:06 am
Forum: Personal Finance (Not Investing)
Topic: New Construction Custom Home: What Constitutes Under-Developing a Lot?
Replies: 11
Views: 1237

Re: New Construction Custom Home: What Constitutes Under-Developing a Lot?

Just my opinion but I wouldn't build a new 1010 sq. ft. home. My condo now is 910; my primary home is between 1500 and 1600 sq ft. While I personally don't need quite that 1500+, I don't like that everything in the smaller place is... smaller. Notably, the kitchen, pantry, and bathroom, and non-exis...
by tibbitts
Sun Jun 20, 2021 8:44 am
Forum: Personal Finance (Not Investing)
Topic: New York Last Will in Nevada
Replies: 5
Views: 784

Re: New York Last Will in Nevada

The general point is that most people who move from state to state every few years, or even more often, don't update their documents. It's not automatic like getting a new driver's license (which these days might not be practical either, thanks to the convergence of Covid and RealID combined with po...
by tibbitts
Sun Jun 20, 2021 8:31 am
Forum: Personal Consumer Issues
Topic: Do I really need a new A/C unit??
Replies: 32
Views: 2185

Re: Do I really need a new A/C unit??

The last few companies I've used, the techs seem to fumble around and look confused, but they sure know how to quote a new system quickly, oh it's at the arbitrary 12 years old end of life, it needs to be replaced, you should probably do the furnace as well because it's cheaper to install both at o...
by tibbitts
Sun Jun 20, 2021 12:23 am
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

Ideally, if you get good financial planning mixed in, you get help with making decisions regarding retirement that are difficult, if not impossible to reverse once made. I didn't appreciate the value of this until I made what were in retrospect very obvious mistakes with my own investments. A secon...
by tibbitts
Sat Jun 19, 2021 11:09 pm
Forum: Personal Investments
Topic: Utility of Financial Advisor
Replies: 72
Views: 4671

Re: Utility of Financial Advisor

No, but I had already told him that when he prepares a short list of funds that he be ready to show how it compares against a comparable index. If I don't like his index, then I'll take the ticker names home and see how they stack against indexes that I find. If we're looking at small caps, I'll in...
by tibbitts
Sat Jun 19, 2021 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: So now you're dead -- how does your executor find all your accounts & bills?
Replies: 109
Views: 14367

Re: So now you're dead -- how does your executor find all your accounts & bills?

You've apparently not had to deal with this situation in real life... Admittedly, no, but as I think through my own situation, I still don't get it. My wife and I have a joint bank and taxable brokerage account with our own separate login credentials for those institutions. Would those not still be...
by tibbitts
Sat Jun 19, 2021 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: So now you're dead -- how does your executor find all your accounts & bills?
Replies: 109
Views: 14367

Re: So now you're dead -- how does your executor find all your accounts & bills?

Fidelity has Fidsafe https://www.fidsafe.com/ though many worry about security....outside of that one wonders if that could 'disappear' in X years leaving you in the same position you were in before using it. Dunno? Wondering if anyone uses it? If so a review would be useful. I do use Fidsafe. I ha...
by tibbitts
Sat Jun 19, 2021 8:35 pm
Forum: Personal Consumer Issues
Topic: Do I really need a new A/C unit??
Replies: 32
Views: 2185

Re: Do I really need a new A/C unit??

Obviously the problem is that every estimate to repair your unit will cost $80-$100 or so even without any work being done, while estimates for new units are free. I would get multiple estimates for new units because every time I get an estimate for anything, I learn something new. My guess is every...
by tibbitts
Sat Jun 19, 2021 8:25 pm
Forum: Personal Consumer Issues
Topic: Whole House Surge Protector
Replies: 31
Views: 2957

Re: Whole House Surge Protector

I know this is a somewhat old thread but my surge protector has failed, so I thought I see if there were any other thoughts on user-replaceable units. Not user-replaceable for the initial installation - I don't even want to remove my dead (per the LED) unit myself because I'm not sure I'm supposed t...
by tibbitts
Sat Jun 19, 2021 11:39 am
Forum: Investing - Theory, News & General
Topic: Is the secret to long term wealth as simple as living below your means and investing in a low cost index fund
Replies: 149
Views: 13544

Re: Is the secret to long term wealth as simple as living below your means and investing in a low cost index fund

It seems like building long term wealth is pretty simple. Live below your means and invest in a low cost total stock market index fund. Am I missing anything other than stay the course? Is it really that easy? It's simple but not necessarily easy because stocks can stay down for a long time. Nikkei...
by tibbitts
Sat Jun 19, 2021 11:32 am
Forum: Investing - Theory, News & General
Topic: Why is the price of VIPSX constant many days?
Replies: 18
Views: 938

Re: Why is the price of VIPSX constant many days?

Recently, I shifted part of my bonds from Vanguard's total bond fund (VBTIX) to Vanguard's TIPS fund (VIPSX) in my 403b account. Here are the prices of the two funds over the past month: VBTIX - https://www.google.com/finance/quote/VBTIX:MUTF?window=1M VIPSX - https://www.google.com/finance/quote/V...
by tibbitts
Sat Jun 19, 2021 10:27 am
Forum: Investing - Theory, News & General
Topic: Is the secret to long term wealth as simple as living below your means and investing in a low cost index fund
Replies: 149
Views: 13544

Re: Is the secret to long term wealth as simple as living below your means and investing in a low cost index fund

Yes. Having (and keeping) a spouse on the same page is relevant too. Earning a high income makes it easier. But, as long as you can spend less than you earn, it can be done on any income. Well, unless you have a high enough income to have money left over from whatever you define as "essentials...
by tibbitts
Sat Jun 19, 2021 10:15 am
Forum: Investing - Theory, News & General
Topic: Is the secret to long term wealth as simple as living below your means and investing in a low cost index fund
Replies: 149
Views: 13544

Re: Is the secret to long term wealth as simple as living below your means and investing in a low cost index fund

It seems like building long term wealth is pretty simple. Live below your means and invest in a low cost total stock market index fund. Am I missing anything other than stay the course? Is it really that easy? No, I don't consider that a typical person can build what I'd call "long term wealth...
by tibbitts
Sat Jun 19, 2021 10:03 am
Forum: Personal Finance (Not Investing)
Topic: So now you're dead -- how does your executor find all your accounts & bills?
Replies: 109
Views: 14367

Re: So now you're dead -- how does your executor find all your accounts & bills?

Fidelity has Fidsafe https://www.fidsafe.com/ though many worry about security....outside of that one wonders if that could 'disappear' in X years leaving you in the same position you were in before using it. Dunno? Wondering if anyone uses it? If so a review would be useful. I do use Fidsafe. I ha...
by tibbitts
Sat Jun 19, 2021 10:01 am
Forum: Personal Finance (Not Investing)
Topic: So now you're dead -- how does your executor find all your accounts & bills?
Replies: 109
Views: 14367

Re: So now you're dead -- how does your executor find all your accounts & bills?

This is a specific issue within the broader issue being discussed in this thread, so I think I will start a separate thread seeking ways to deal with online account access after you pass, in an age of multi-factor authentication. That's a good idea about another thread, although the increasing acce...
by tibbitts
Sat Jun 19, 2021 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Dad's IRA - beneficiary/tax advice
Replies: 13
Views: 990

Re: Dad's IRA - beneficiary/tax advice

As an alternative to the Roth conversion idea (or in come combination), your father could increase his IRA withdrawal to the top of their bracket this year as a way to reduce the tax burden in the future. I can see withdrawals as advantageous at least to a point, since Roth conversions will just pu...
by tibbitts
Fri Jun 18, 2021 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: So now you're dead -- how does your executor find all your accounts & bills?
Replies: 109
Views: 14367

Re: So now you're dead -- how does your executor find all your accounts & bills?

What is the correct way for my next-of-kin to close credit cards or memberships like Amazon Prime or Spotify? I'm assuming (at least in the case of credit cards) that they are not supposed to log into the account as me to close them. Are they supposed to call or send a letter somewhere? I'm not see...
by tibbitts
Fri Jun 18, 2021 8:22 pm
Forum: Personal Investments
Topic: Advising retired/divorced sister in law invested with TIAA
Replies: 10
Views: 1473

Re: Advising retired/divorced sister in law invested with TIAA

I transferred from my Vanguard IRA into a TIAA 403b to get access to Traditional at 3%. I'd say TIAA's limit at $150k for Real Estate (you may be able work around it in various ways, but at least the theory of it) probably isn't a bad thing for most of us, because it's a relatively concentrated inve...
by tibbitts
Fri Jun 18, 2021 4:56 pm
Forum: Personal Investments
Topic: Ideas to get 5-6%
Replies: 112
Views: 9548

Re: Ideas to get 5-6%

I am looking for ideas for an investment.   Im looking to get about 5 or 6 percent return   I’m willing to put this investment at more risk than a bond. But ideally less risk that the stock market.  Liquidity is of little concern. Does anything fitting these parameters exist out there? Thank you in...
by tibbitts
Fri Jun 18, 2021 4:35 pm
Forum: Personal Investments
Topic: question about wash sale rules and Roth IRA
Replies: 6
Views: 473

Re: question about wash sale rules and Roth IRA

I'm not an expert, but... as far as I know in your example there is no wash sale. However in general, you can't claim a tax loss if you sell in taxable and buy back in a deferred or Roth account. So I would avoid having the same (or substantially the same) funds in multiple account types just to avo...
by tibbitts
Fri Jun 18, 2021 3:40 pm
Forum: Personal Consumer Issues
Topic: Do I Actually Need New Windows, or Am I Being Sold?
Replies: 48
Views: 4544

Re: Do I Actually Need New Windows, or Am I Being Sold?

Our house was built in 1974 and still has their original Pella (wood) windows. The reason I had a window guy come look to see if he could repair them were as follows: 1. Probably 60% of the windows fog up. You can feel cold or hot air coming through the ones on the back of the house. 2. Almost all ...
by tibbitts
Fri Jun 18, 2021 2:25 pm
Forum: Personal Investments
Topic: Advising retired/divorced sister in law invested with TIAA
Replies: 10
Views: 1473

Re: Advising retired/divorced sister in law invested with TIAA

... 6. At a minimum, I think she should sell the QREARX real estate fund (currently showing that 40% of the fund is in office space) in her 403b and merge it with her TIAA IRA – at least it would get some diversification. Looking for ideas and suggestions. Thanks in advance. Ironically some people ...
by tibbitts
Fri Jun 18, 2021 2:11 pm
Forum: Non-US Investing
Topic: I want to time the market, talk me out of it and tell me what can go wrong!
Replies: 40
Views: 3669

Re: I want to time the market, talk me out of it and tell me what can go wrong!

Laurizas wrote: Fri Jun 18, 2021 2:05 pm
QuestioningWanderer wrote: Wed Jun 16, 2021 12:35 pm - Michael Burry who accurate predicted many crashes before
Does anybody know his track record regarding predictions?
Many people would argue that there haven't been "many" crashes in anyone's lifetime. Downturns, bear markets... but crashes?
by tibbitts
Fri Jun 18, 2021 10:41 am
Forum: Personal Consumer Issues
Topic: Do I Actually Need New Windows, or Am I Being Sold?
Replies: 48
Views: 4544

Re: Do I Actually Need New Windows, or Am I Being Sold?

The grids patterns that they sometimes put in the windows will also reduce the glass area and light that comes in. When you look at the numbers having a grid in a window reduced the square inches of clear glass by a significant amount. If you like natural light and it would look OK I would consider...
by tibbitts
Fri Jun 18, 2021 10:31 am
Forum: Personal Consumer Issues
Topic: Is This Truck Purchase a Bad Idea?
Replies: 60
Views: 3680

Re: Is This Truck Purchase a Bad Idea?

This does not descibe a very balanced life - perhaps a good solution for some but certainly not balanced. That was why I questioned starting a new business in addition to the full-time job, 7 rentals, and the baby. But the desire to earn as much as possible as early as possible and get to FI at alm...
by tibbitts
Fri Jun 18, 2021 10:21 am
Forum: Personal Consumer Issues
Topic: Is This Truck Purchase a Bad Idea?
Replies: 60
Views: 3680

Re: Is This Truck Purchase a Bad Idea?

... In my opinion, he can do everything he is wanting to do in his current truck. I am on the side of anti new truck but sometimes I just have to let things go. You are going to buy a new truck at some point, although Bogleheads sometimes seem to be thinking that the old and new trucks will have eq...
by tibbitts
Fri Jun 18, 2021 9:23 am
Forum: Personal Consumer Issues
Topic: Do I Actually Need New Windows, or Am I Being Sold?
Replies: 48
Views: 4544

Re: Do I Actually Need New Windows, or Am I Being Sold?

My home was built in 1884 and most of the windows were , at best, painful to use and at worst, non-functional. Plus, I live in New England, so you can imagine how cold and drafty the house was in winter. I hope this does not offend all you architectural purists out there- I hated the idea of replac...
by tibbitts
Fri Jun 18, 2021 9:17 am
Forum: Personal Consumer Issues
Topic: Do I Actually Need New Windows, or Am I Being Sold?
Replies: 48
Views: 4544

Re: Do I Actually Need New Windows, or Am I Being Sold?

Any thoughts on Window World? I just got a quote from WW that was surprisingly higher than I'd expected. It was close to a quote for what would probably be considered a more "premium" window. It was about 20% above a well-known (here) but local-only firm. I'm not an expert on window quali...
by tibbitts
Fri Jun 18, 2021 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Are there federal taxes paid by individuals other than form 1040 line "total tax"?
Replies: 77
Views: 7463

Re: Why do many people owe the IRS taxes?

He may be referring to those commercials I hear on the radio all the time for services to help people owing back taxes of $10,000 or more settle with the IRS. Honestly, I don't understand it either. Who are these people who fail to pay their taxes and how are there so many? That's a good point that...
by tibbitts
Fri Jun 18, 2021 8:52 am
Forum: Personal Finance (Not Investing)
Topic: So now you're dead -- how does your executor find all your accounts & bills?
Replies: 109
Views: 14367

Re: So now you're dead -- how does your executor find all your accounts & bills?

What is the correct way for my next-of-kin to close credit cards or memberships like Amazon Prime or Spotify? I'm assuming (at least in the case of credit cards) that they are not supposed to log into the account as me to close them. Are they supposed to call or send a letter somewhere? I'm not see...
by tibbitts
Fri Jun 18, 2021 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Are there federal taxes paid by individuals other than form 1040 line "total tax"?
Replies: 77
Views: 7463

Re: Why do many people owe the IRS taxes?

I'm not convinced the OP isn't referring to actual back taxes, since that was the term used, as in taxes not timely paid. For all we know the OP isn't even subject to withholding (or isn't aware he might be) or having taxes deducted from any wages or other payments. I'm guessing this isn't an issue ...
by tibbitts
Thu Jun 17, 2021 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Are there federal taxes paid by individuals other than form 1040 line "total tax"?
Replies: 77
Views: 7463

Re: Why do many people owe the IRS taxes?

Do you prefer to lend money at no interest or pay later? Why would I lend money to IRS at no interest instead of keeping that money invested and pay IRS at the end of the year? These days the amount of interest just doesn't matter, so I don't worry about it. After using up my safe harbor last year,...