location: majors in bloomington
when: 23-nov-08
duration: 2.5 hours
agenda:
1) welcome & “formal” intro - your name & guess when we’ll hit market bottom
2) risk quiz
3) break into 5 tables, 4 sessions (all session will be 20 minutes each)
4) wrapup, next meeting timing / location / format, picture
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Feel free to share this with others. Because the survey I put together was based on questions from three different surveys, this survey has also never been tested for validity.
Risk Tolerance Survey Results
Bloomington Bogleheads 11-23-2008
Of the 22 individuals who took the survey, 11 had previously taken a risk assessment survey. As self reported, the risk tolerance of 8 of the 11 is lower than their previously reported risk tolerance. However, because the margin for error on the survey is plus or minus three points, no definitive conclusion can be reached regarding the effect of the current market environment on risk tolerance. The average for the entire group was at the high end of the moderate range (22.36 where the moderate range is 15-23). In comparing the retired group to those more than 10 years from retirement, the younger group scored only slightly higher within the moderate range (1.86 points, 23.86 to 22.00). The most significant difference within two groups was that those who had previously taken a risk assessment scored 2.91 points less than those who had never taken a risk assessment (23.82 to 20.91). Those who had previously taken an assessment were close to the middle
of the moderate range while those who had not, were borderline moderate-high.
Based on the nature of the self selected group, this was not a statistically valid sample that can be extrapolated to the population at large.
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1st session
A BOGLEHEAD Basics 101: What is one? Brief history of bogleheads
B EMH (efficient market hypothesis): Does EMH really work? Considering the pessimism we have seen in the market lately are we sure that EMH has correctly priced equities or are there 'irrational' actors at work?
C ETFs: When to use ETFs, why to use them, who the major providers are, etc.
D BOND funds & TIPS: How to evaluate the risks/returns among bond funds. What data beyond 1,3,5,10 year returns need to be evaluated?
E WHY O WHY!?! someone knowledgeable explain in 5 minutes the reason for this economic mess, the bailout, and possible future scenarios if we continue to bail out further
2nd session
A AA: reviewing actual asset allocations / portfolios from people (bring 8 copies, % only)
B REBALANCE: Rebalance in this market? How often? (from every 5 years to almost continually)
C ROTH conversions, benefits of Roth vs. Traditional. location of funds: I've been trying to find a rationale for placing funds in a Roth
D RISK TOLERANCE review your risk analysis results from the intro quiz that we all took
E EARLY RETIREMENT. have you retired early? or do you want to? strategies, case studies, bridge income, boglehead book chapter preview
3rd session
A BEAR MARKET: After the crash: If bailed, when to get back in. if AA too stock heavy, when to adjust. Maybe some people sold to raise cash or avoid losses or just sleep better. If so what would be good strategies to redeploy this money sometime in the future?
B MENTAL HEALTH: Reinforce my decision not to bail out of the market & move to some remote island. What has been your emotional experience. How cope? What advice? bear market strategies. Staying the course in turbulent markets. Tune out the noise and stay invested? Hardest part about current markets
C EMPLOYER retirement plans and fund options. choosing best of the bad. how to judge/pick
D ESTATE PLANNING: Wills, Trusts, Power of Attorney, Living Wills. how to set up? how to update? how much to pay? DIY?
E HSA: Health Savings Accounts. how to document. when to tap. records to keep, etc
4th session
A TLH: Tax loss harvesting: Selling/switching a mutual fund. When/how?: replacements "substantially identical"? Deciding, w/ losses or gains, Do people decide an exit strategy when they buy? selling: Strategies to minimize taxes when selling investments?
B AA: reviewing actual asset allocations / portfolios from people (bring 8 copies, % only)
C WASHINGTON DC: proposed legislation changes / bailouts (401k, tax rates) w/ new administration/congress, 2010 roth changes
D RETIREMENT INCOME: Managing income streams and minimizing taxes (how to balance and maximize after tax income from pensions, SS, annuities, and pre /post tax)
E MENTAL HEALTH: Reinforce my decision not to bail out of the market & move to some remote island. What has been your emotional experience. How cope? What advice? bear market strategies. Staying the course in turbulent markets. Tune out the noise and stay invested? Hardest part about current markets
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