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About ScottO

  • Birthday 09/06/1982

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    Santa Clara, CA

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  1. I like that Bogleheads philosophy link. https://investor.vanguard.com/investing/how-to-invest/investment-risk Vanguard has a neat chart under "Adding bonds tends to lower both risk and potential return" if you scroll down that link. https://personal.vanguard.com/us/insights/saving-investing/model-portfolio-allocations You can look at the historical return of some of the models (economic conditions have changed a lot over time though) to target an average return that allows you to meet your retirement goals. Your goals dictate what you should be doing - More conservative allocations may delay your ability to retire. More aggressive allocations may introduce more risk than necessary. At a recent Vanguard client education event, an advisor really didn't see an advantage of being more than 80% in stocks. Risk outweighed potential rewards in their view. I'm finding that having a some % of bonds helps by allowing for rebalancing in good and bad times. We'd probably have to know more about your expenses, projected expenses in retirement, date you plan to retire, pension income, social security income, other sources of income and yadda, yadda, yadda to really know what's appropriate for you. If you're sleeping well, you're probably alright.
  2. Yesterday's panel was very informative and a chill environment to get an intro. I did send off an email to one advisor. Hope to see you at the office hours today.
  3. The book you suggested is my first introduction to him. Chapter 11 is a lot of fun and the book has a wealth of information overall. I'm currently crawling over the website, there's a ton of content. I might tune into a few of his podcast episodes to hear what they are like: https://paulmerriman.com/sound_investing/ and his other book looks interesting: https://paulmerriman.com/live-it-up-without-outliving-your-money/ Tomorrow's Zoom session should be interesting. I've had bad advisor experiences and feel like I know enough to not need another one. Every once in a while I do get curious about what a CFP would say about our financial plan though.
  4. Looks like the same book is available here along with two more (100 pages each): http://paulmerriman.com/how-to-invest-series-complimentary-download/?mod=article_inline 👍
  5. I'll certainly be at that one. It is amazing how it became that social norm for people to defer to "professionals" (professional salesman) for managing their retirement plans. I'm trying to think of something analogous... it's almost like going to a plastic surgeon. They aren't going to fix root causes and will most likely be working in their best interest(for profit) when making suggestions. Most likely you'll leave looking unnatural, feeling violated and like you wasted a bunch of money. (I've never had , so this is a guess.) I'd imagine a fiduciary would be more akin to a real doctor(who has a fiduciary duty to their patients.)
  6. Currently reading over it. Appreciated the history of the 403b. The grassroots movement story of 403(b) Aware has been fun to follow. VALIC being selected as a TPA hits close to home, that who my district uses... reading closer on page 93. I've attended the meetings with our district and bargaining units for the past 3 years. It's an interesting experience, because nothing much has changed - largely in part to none of the union leaders participating in the plans and the issue being a very back burner one for the district. Establishing a committee of employees, like 403b Aware, which would make recommendations has been on my mind. Getting written recommendations from a CFP or an audit of the plans was another route I was considering, but now I need to get to the end of your book before I put any bright ideas in motion. Thanks for putting this together.
  7. I signed up for the May 6th and May 7th sessions. Dan and Scott always offer interesting financial topics for my brain to chew on. Might reread this book to inspire questions: Get Wise to Your Advisor: How to Reach Your Investment Goals Without Getting Ripped Off by Steven D. Lockshin https://www.worldcat.org/title/get-wise-to-your-advisor-how-to-reach-your-investment-goals-without-getting-ripped-off/oclc/837924707 I have these two en-route: Wealth management : the financial advisor's guide to investing and managing client's assets by Harold Evensky https://www.worldcat.org/title/wealth-management-the-financial-advisors-guide-to-investing-and-managing-clients-assets/oclc/37812252 How to retire with enough money : and how to know what enough is by Teresa Ghilarducci https://www.worldcat.org/title/how-to-retire-with-enough-money-and-how-to-know-what-enough-is/oclc/931797000 My local public library closure is a drag. It's gotten so bad that I might start looking at their ebooks 😛
  8. Having so many people who were involved with improving LAUSD's 457 plan at the last Zoom session was great @sschullo. https://achieve.lausd.net/Page/11880 https://www.tsacg.com/lausd/ I'm going to have to review those links to get ideas about how to improve options at my own district and look at how LAUSD manages employee education surrounding 403/457 accounts.
  9. https://www.portfoliovisualizer.com/backtest-portfolio https://www.portfoliovisualizer.com/fund-performance https://tools.finra.org/fund_analyzer/ ^ those are all pretty good rearview mirrors
  10. When it comes to retirement advice, retirees are among the best sources to hear from. My district and none of the five unions at our bargaining table provide names or work locations of staff to vendors. No kickbacks. I've been going to the annual 403b/457 review meetings for three years. Changes are driven by getting 25 people to sign on to an idea(add a vendor, add a plan option, etc.), but I haven't seen a clear vendor selection criteria document(which I'm pushing for.) We have three really good providers(Vanguard, Fidelity, CalSTRS Pension2)and twice as many bad options(VALIC, American Funds, MetLife, Midland Life Ins, Voya, T Rowe Price, Foresters Financial.) I'd really like to make our district a good model by borrowing from what's been accomplished elsewhere. I recognize we're not so bad, but that doesn't mean we can't be better. I was raised on small forums. That big city fakebook livin' just wasn't for me.
  11. I've caught a little wind of this on the site, but what's the trouble that the unions cause your 403b/457 world? Faculty and staff at my district are represented by their own independent labor organizations(FA, ACE, POA) and then other staff are represented by larger organizations(CSEA, Teamsters). Collectively they all work with the district to modify retirement plan vendors.
  12. +1 to Tony Fidelity has low cost passive index funds and a lot of higher cost managed funds. You'd still need to do some homework on them, plus there's a lot to consider with your time horizon and overall personal finance situation. The most popular response you'll get from most people is, "it depends."
  13. +1 for Fidelity, 3-Fund Portfolio: https://www.bogleheads.org/wiki/Three-fund_portfolio Suncoast doesn't look like the best credit union compared to mine ( https://www.starone.org/ ) you may consider shopping around for better options.
  14. haha, that's a great definition. Reminds me of the definition of a recession vs a depression... A recession is when your neighbor loses their job. A depression is when you lose your job.
  15. US Santa Cruz: https://financialaid.ucsc.edu/cost-to-attend/undergraduate-costs.html $37k/yr resident $67k/yr non-resident
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