Still buy corp bond funds, GNMAE bond fund, Agency bonds, etc, etc etc
cannot tolerate another massive paper loss we had in march where on paper lost 640k; got it all back plus
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Originally posted by Kennyt7 View Postbuying more PPFD and dca into vang total stock and vanguard healthcare and bark
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buying more PPFD and dca into vang total stock and vanguard healthcare and bark
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Originally posted by Kennyt7 View PostHave owned individual MUNIS for 35 yrs and the tax free income is great and bought only long term with higher returns
As well owned Vang Hi Yield Corp for a long time and they buy the best of the junk many times
LT TREASURIES and corporates have done better than sp500 over last 20yrs as well as junk
LT Bonds in the 80's with double digit returns through zero coupon bonds funded my 3 kids education
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Have owned individual MUNIS for 35 yrs and the tax free income is great and bought only long term with higher returns
As well owned Vang Hi Yield Corp for a long time and they buy the best of the junk many times
LT TREASURIES and corporates have done better than sp500 over last 20yrs as well as junk
LT Bonds in the 80's with double digit returns through zero coupon bonds funded my 3 kids education
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ANYONE have thoughts on PREFERREDS, the elf PFFD, that Pic Ferri suggests?
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Originally posted by EntrepreneurMD View Post
What is proper for physician level assets? Is there really any scenario where there is a need for more than 5 years of living expenses in bonds? 5 years is plenty to cover SORR, and more is likely to reduce long term returns with no real recessionary protection since most recessions recover within 5 years. Millions in bonds like a 50/50 portfolio doesn't make much sense to me IMO, especially given longer life expectancy.
The only scenario I can think of justifying half or all in bonds is a life expectancy of 5 years or less and a desire (no family)/need (medical bills) to spend it.
Trying to envision what I will do with portfolio heading into retirement age (20 years). Someone who is 67 and healthy today (life expectancy 90 based on family history), debt free, $10M investment portfolio, annual living expenses including taxes are $200K/year (2%, exclude SS/pensions for simplification) - is $1M in bonds reasonable leaving $9M to grow (90/10)? Or would an FA still recommend 60/40 or 50/50?
We don’t use bonds for living expenses. That is the purpose of liquidity.
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Originally posted by Kennyt7 View PostJFOX-what bonds are appropriate in retirement, may I ask? or other fixed income vehicles like munis, preferred, ginnie Maes, etc
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JFOX-what bonds are appropriate in retirement, may I ask? or other fixed income vehicles like munis, preferred, ginnie Maes, etc
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Originally posted by jfoxcpacfp View Post
Many of our clients have bonds. I, too, think bonds have a very good purpose if properly used. My beef is that bonds are rarely properly used.
The only scenario I can think of justifying half or all in bonds is a life expectancy of 5 years or less and a desire (no family)/need (medical bills) to spend it.
Trying to envision what I will do with portfolio heading into retirement age (20 years). Someone who is 67 and healthy today (life expectancy 90 based on family history), debt free, $10M investment portfolio, annual living expenses including taxes are $200K/year (2%, exclude SS/pensions for simplification) - is $1M in bonds reasonable leaving $9M to grow (90/10)? Or would an FA still recommend 60/40 or 50/50?Last edited by EntrepreneurMD; 12-30-2020, 09:38 AM.
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Every professional has the intelligence to manage your their own portfolio by just reading, Malkel, Bogle, Bernstein, and Swedroe
"IF YOU CAN"- 14 pg online PDF-print it out and spread these words to others-by William Bernstein
If you read and see how 1-2% in yearly fees decimates one's portfolio, it will motivate you to do it yourself
As Dr Dahle has said, a few mistakes one might make over their lifetime is far less costly than the massive fees paid to AUM advisors and others
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Could not info agree more that learning to invest with a low cost no load diversified portfolio of index funds is quite simple
Many docs think they can do better, a fool's game
Of course you need an estate planning atty and many need a CPA as well
All the info one needs about investing, pre and post retirement, is at your computer
Kitces and Pfau write much about retirement strategies; again not difficult to digest quickly
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Most doctors get stuck in 101. They need an advisor.Last edited by EntrepreneurMD; 12-29-2020, 04:35 PM.
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Originally posted by Tim View Post
I was perusing the always excellent Oblivious Investor today and came across a link to a post by Chris Mamula on the implications of the low interest rates on bonds. Here is the link. https://www.caniretireyet.com/retiring-extreme-low-interest-rates/ I have been thinking about this because I am notionally inside a three year
Liquidity, risk vs return, volatility, diversification: Your previous post was very well thought out. Although few in number, I believe the responses were excellent.
Do you (personally) need bonds in a crisis?
Do you (personally) need bonds for liquidity, return, volatility, diversification?
I personally think bonds have a very good purpose if properly used. Just not for investment returns, but for liquidity that accomplishes ones personal financial plan.
CM, Larry Ragman and Johanna would make a very interesting panel discussion at WCI2021 or a podcast. Likely a topic without a resolution because there isn't one!
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Originally posted by Lithium View PostI think most doctors could learn investing passive investing 101 in a few minutes, or less than an hour if they wanted to slice and dice. I think most docs need more help with matters such as developing a written financial plan, managing cash flow, determining how much they need to save for various goals (retirement, college, etc), understanding available retirement accounts, investing in a tax efficient manner, making decisions of paying off debt vs. investing, asset decumulation strategies, estate planning, etc. The problem is that fee-based and AUM advisors are not rewarded for doing any of these things. It’s like expecting primary care docs to spend thirty minutes with every patient discussing the importance of eating fresh vegetables, wearing seat belts, and preparing living wills.
Don't get me started on the 95yo people without living wills or POA paperwork though.
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