Cannot a person invest in the same thing(s) that insurance companies invest in to back their annuities? Rather than handing over one's money to an insurance company, why not build your own annuity?
"However, I do not believe it was economic thinking to bring this tax case..." I disagree. It was the criminal who brought the tax case (pro se, BTW) to the Tax Court and then the Appellate Court and it was good that he did as he avoided a $180k TC judgement which would surely have grown to the many millions by the time he got out of prison. The appellate decision linked above is a very easy and quite amusing read, for those so inclined. 12 pages.
Always take a medically savvy person - a friend if possible - with you to appointments discussing serious issues. There is a psychological reason for this.
HRB, purchased near-BlackFriday, with IRS PIN, fetched in early January. Was planning to switch to the IRS's "Free File" system for 2025 but I saw yesterday that the prez is killing it (for obvious reasons, I guess). For state I use the free, on-line filing system provided by the Dept of Revenue.
Extremely large liability umbrella policies can be purchased from high net worth coverage insurance companies such as AIG. Was an article a few years ago about a pro athlete who bought a $25 million umbrella policy.
A case posted by a Boglehead (BH) a bunch of years ago. The BH was in a line of cars stopped at a stoplight, perhaps 3-4 cars back. An auto hit the last car in the back of the line at a high rate of speed pushing everyone forward far enough that the lead auto was pushed into the intersection where a crossing auto T-boned him. A young passenger in the T-boned car was rendered tetraplegic. The lawyers were licking their chops and sued everyone present within 100 miles (well...) The BH had an umbrella policy for $10 million (I think). When it was all settled and done that $10 million went toward the eventual very, very large settlement. And the BH wasn't actually "at fault"; he was simply "there". Umbrellas are good. Be sure to have one. The downpour can be extremely heavy.
Comments
So an annuity is sort of a bet? Is it possible to get more back in payments than was put in to fund the annuity in the first place?
Post: A False Sense of Security
Link to comment from April 29, 2025
Cannot a person invest in the same thing(s) that insurance companies invest in to back their annuities? Rather than handing over one's money to an insurance company, why not build your own annuity?
Post: A False Sense of Security
Link to comment from April 29, 2025
"However, I do not believe it was economic thinking to bring this tax case..." I disagree. It was the criminal who brought the tax case (pro se, BTW) to the Tax Court and then the Appellate Court and it was good that he did as he avoided a $180k TC judgement which would surely have grown to the many millions by the time he got out of prison. The appellate decision linked above is a very easy and quite amusing read, for those so inclined. 12 pages.
Post: Forfeiture laws vs. Tax laws
Link to comment from April 24, 2025
Always take a medically savvy person - a friend if possible - with you to appointments discussing serious issues. There is a psychological reason for this.
Post: Screw politics, let’s talk health! Are all surgeries necessary or have we become the college tuition bank for the Doc’s children?
Link to comment from April 18, 2025
Post: Ask Me a Tough One by Jonathan Clements
Link to comment from April 18, 2025
HRB, purchased near-BlackFriday, with IRS PIN, fetched in early January. Was planning to switch to the IRS's "Free File" system for 2025 but I saw yesterday that the prez is killing it (for obvious reasons, I guess). For state I use the free, on-line filing system provided by the Dept of Revenue.
Post: Now it’s over, taxes are filed, but I have a question. How did prepare your your taxes?
Link to comment from April 17, 2025
Extremely large liability umbrella policies can be purchased from high net worth coverage insurance companies such as AIG. Was an article a few years ago about a pro athlete who bought a $25 million umbrella policy.
Post: How Big is Your Umbrella?
Link to comment from April 13, 2025
A case posted by a Boglehead (BH) a bunch of years ago. The BH was in a line of cars stopped at a stoplight, perhaps 3-4 cars back. An auto hit the last car in the back of the line at a high rate of speed pushing everyone forward far enough that the lead auto was pushed into the intersection where a crossing auto T-boned him. A young passenger in the T-boned car was rendered tetraplegic. The lawyers were licking their chops and sued everyone present within 100 miles (well...) The BH had an umbrella policy for $10 million (I think). When it was all settled and done that $10 million went toward the eventual very, very large settlement. And the BH wasn't actually "at fault"; he was simply "there". Umbrellas are good. Be sure to have one. The downpour can be extremely heavy.
Post: How Big is Your Umbrella?
Link to comment from April 13, 2025
One of the best pieces of advice I received over the years: "Don't look rich."
Post: Change is good – and profitable
Link to comment from April 13, 2025
+1. Trying to recognize either the market bottom or top is the definition of 'market timing'.
Post: Risky Business – Challenging Times
Link to comment from April 7, 2025