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Re: Debit Card was hacked. Should I just use cash from now

Who is going to cover your losses if the cash in your wallet gets "hacked".
by bberris
Sat Oct 18, 2014 5:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Debit Card was hacked. Should I just use cash from now on?
Replies: 33
Views: 1808

Re: Former employee patent compensation

You won't get it unless you ask. Negotiate a contract, keep track of your hours, and send a bill every month.
by bberris
Fri Oct 17, 2014 6:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Former employee patent compensation
Replies: 5
Views: 690

Re: Young Professional Looking to Consciously Invest

I would (and do) go with the standard pretax 401k with a 31 % marginal tax rate.
by bberris
Thu Oct 16, 2014 3:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Young Professional Looking to Consciously Invest
Replies: 7
Views: 1064

Re: Index usage error in Mortgage Document.

cheese_breath wrote:
LongerPrimer wrote:This carp needs to end.

Yes. There's definitely something fishy going on here.

Good catch!
by bberris
Wed Oct 15, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Index usage error in Mortgage Document.
Replies: 13
Views: 725

Re: First RMD Divisor - 27.4 or 26.5

Thanks all for the help. It looks like a person only has to know their birth date to determine their first RMD Divisor. With the time value of money, it's not clear if the two groups are treated equally. Those born July through December get to wait until age 71 to take their first RMD. As if that w...
by bberris
Tue Oct 14, 2014 10:00 am
 
Forum: Personal Finance (Not Investing)
Topic: First RMD Divisor - 27.4 or 26.5
Replies: 11
Views: 1025

Re: Securities lending

You didn't say whether this was in a taxable account or not. If you lend securities, the dividend payments become "in lieu" of dividends and they are ordinary income, not qualified for the reduced dividend tax rate. So I would say pass if this is a taxable account. If its an IRA, the borro...
by bberris
Mon Oct 13, 2014 9:33 am
 
Forum: Investing - Theory, News & General
Topic: Securities lending
Replies: 16
Views: 820

Re: Need Help Responding to Debt Collector (for invalid requ

You need to write a dispute letter. Directions here: http://www.bargaineering.com/articles/writing-your-debt-collection-dispute-letter.html Great article bberis. Thanks for the link. I'll put it together tonight, and let you all know how it goes. :sharebeer Your welcome. Also, be sure to follow the...
by bberris
Mon Oct 13, 2014 5:49 am
 
Forum: Personal Consumer Issues
Topic: Need Help Responding to Debt Collector (for invalid request)
Replies: 11
Views: 960

Re: What to do about my wash sale

I just gave a simple and obvious example. Whatever rules they come up with, someone would find a way around it. Maybe IRS says you can't have offsetting positions. (I think that is current law.) Then someone would buy Delta and short American. They would be highly negatively correlated.
by bberris
Sat Oct 11, 2014 2:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do about my wash sale
Replies: 22
Views: 850

Re: What to do about my wash sale

The $3000 max deduction for capital losses... That's another one I've always wondered about. Why $3000 and why independent of tax bracket and stays fixed every year? Some people will have loss carryforward for their entire life at that pace. Without that limit you could use offsetting positions to ...
by bberris
Sat Oct 11, 2014 1:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do about my wash sale
Replies: 22
Views: 850

Re: Lending club interest rate risk

Ganacel wrote:Would someone mind explaining exactly how this works?

A web site connects people who can't get a bank loan with people who would like to lend money to such.
by bberris
Fri Oct 10, 2014 8:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Lending club interest rate risk
Replies: 12
Views: 785

Re: Why Hold Cash in Retirement Account

Cash, or a bank balance, or short term tbills lower your risk. You might ask, why do people leverage their portfolio on margin? To increase the risk. Its about adjusting the portfolio to the risk level you say you want. (Which might also be the risk level you really want, but not necessarily.)
by bberris
Wed Oct 08, 2014 7:58 pm
 
Forum: Investing - Theory, News & General
Topic: Why Hold Cash in Retirement Account
Replies: 21
Views: 1637

Re: Portfolio advice: US citizen expat in France

I'm curious about living in no state. Where are you registered to vote? If there was a state income tax there, they may try to tap you. I always thought the strategy was to "move" to a hotel room in Texas or Florida, get a driver's license and register to vote, and then move again.
by bberris
Tue Oct 07, 2014 8:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio advice: US citizen expat in France
Replies: 11
Views: 625

Re: Buffett Has 100% Equities in his Pensions Funds

To state the obvious, but I guess it must be said: A pension fund is not a person. A pension fund does not risk retirement when the market is down. It is diversified with respect to cash disbursement. And this is the problem with individual retirement accounts versus pension funds. Pensions are bett...
by bberris
Sun Oct 05, 2014 10:11 am
 
Forum: Investing - Theory, News & General
Topic: Buffett Has 100% Equities in his Pensions Funds
Replies: 39
Views: 2702

Re: JPM Chase hacked

Chase website has a link to "Cybersecurity Tips". What next, dieting advice from Refrigerator Perry?
by bberris
Sun Oct 05, 2014 9:06 am
 
Forum: Personal Finance (Not Investing)
Topic: JPM Chase hacked
Replies: 13
Views: 1850

Re: Aspiring Personal Finance Advisor

Bonds? I don't want any bonds.
I just saw someone on CNBC. Sell everything.
Why aren't we fully invested?

I want some facebook, apple, tesla, gopro...


Are you ready for that?
by bberris
Thu Oct 02, 2014 6:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Aspiring Personal Finance Advisor
Replies: 8
Views: 1388

Re: Tell me about Paris

The thing about airbnb is how do we communicate with the host and meet up with them, because we arrive late in the evening. Plus, I have no clue how to use a phone there. What popular phone(s) work there, and what plan can you purchase for use over there? The AirBnB host will explain everything, an...
by bberris
Wed Oct 01, 2014 8:26 pm
 
Forum: Personal Consumer Issues
Topic: Tell me about Paris
Replies: 65
Views: 3553

Re: Tell me about Paris

You are looking at places that are kind of out there and it gets a little rough. Clignancourt has the big flea market which you might want to shop but I don't think you'd want to stay there. How about 14th?
by bberris
Wed Oct 01, 2014 1:19 pm
 
Forum: Personal Consumer Issues
Topic: Tell me about Paris
Replies: 65
Views: 3553

Re: Chase Ultimate Rewards Program

For maximum flexibility keep your points as UR until you want to fly. They transfer instantly to United or British Airways. I use BA points (avios) to fly domestic American airlines flights, which is a really good deal. United has good availability for flights to Europe for 60000 miles.
by bberris
Sat Sep 27, 2014 6:24 pm
 
Forum: Personal Consumer Issues
Topic: Chase Ultimate Rewards Program
Replies: 27
Views: 5992

Re: Time to go back to cash and ditch the Credit Card?

If there is a security breach of the cash in my wallet, I'm SOL. If there is a security breach of my credit card, I haven't lost anything.
by bberris
Thu Sep 25, 2014 1:43 pm
 
Forum: Personal Consumer Issues
Topic: Time to go back to cash and ditch the Credit Card?
Replies: 39
Views: 3285

Re: Where does money come from?

You are confusing money with wealth. Wealth can be all kinds of assets. Money is a medium of exchange. An economy can get wealthier even with the same amount of money.
Strictly speaking money is created by bank loans and federal government deficit spending.
by bberris
Mon Sep 22, 2014 10:13 pm
 
Forum: Investing - Theory, News & General
Topic: Where does money come from?
Replies: 4
Views: 726

Re: Why is there no mutual fund that truly behaves like rent

Because with a mutual fund you can withdraw your cash in three days. It takes months to sell a house and the transaction costs are huge. That could lead to a cash crunch. You want a reit as others have pointed out. But they are not mutual funds and they are not forced to cash you out, you can only s...
by bberris
Sat Sep 20, 2014 2:44 pm
 
Forum: Investing - Theory, News & General
Topic: Why is there no mutual fund that truly behaves like rental?
Replies: 36
Views: 2568

Re: Learning a NEW language - Foreign Service Inst

duolingo
Free smartphone app
Research shows it's better than rosetta stone.
by bberris
Sun Sep 14, 2014 8:11 am
 
Forum: Personal Consumer Issues
Topic: Learning a NEW language - Foreign Service Inst
Replies: 37
Views: 2486

Re: 401(k) 20% Mandatory Tax Withholding

Only rollover distributions have mandatory withholding. For regular distributions, if you file the w-4p form with the trustee, you can have withholding at any rate you want, including 0. This is for both 401k and IRA. IRS says: Withholding on Periodic Payments Generally, periodic payments are pensio...
by bberris
Sat Sep 13, 2014 8:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) 20% Mandatory Tax Withholding
Replies: 24
Views: 1957

Re: Future direction of U.S. stock market

It goes up all the time, except when it goes down. It rarely stays the same.
by bberris
Wed Sep 10, 2014 8:43 pm
 
Forum: Investing - Theory, News & General
Topic: Future direction of U.S. stock market
Replies: 23
Views: 2320

Re: invest in this 401K or not

Since the job is temporary, don't fret the fees. It looks like it costs less than a big mac per month. Contribute what you can, put it in the lowest fee available (maybe stable value, bank account, or money fund). Roll it over to an IRA when you leave.
by bberris
Wed Sep 10, 2014 11:52 am
 
Forum: Investing - Help with Personal Investments
Topic: invest in this 401K or not
Replies: 22
Views: 1080

Re: Injury on MBTA: Financially worth it to hire an attorney

Wait, your friend was injured, but you want a lawyer?
Loss of consortium?
by bberris
Sun Sep 07, 2014 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Injury on MBTA: Financially worth it to hire an attorney?
Replies: 27
Views: 2020

Re: Paying back my 401K loan: Am I thinking correctly?

Question 1: Does the repayment get allocated based on my fund contribution breakdown? Yes. Question 2: Very obvious but I'd like someone to spell it out for me ---> With the market at an all time high, I'm most likely repurchasing stock at a higher price than when I sold it to take out the loan, co...
by bberris
Fri Sep 05, 2014 6:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Paying back my 401K loan: Am I thinking correctly?
Replies: 8
Views: 706

Re: chip credit cards

The chip-and-sig cards still have a magnetic stripe, so they are still clonable and hackable. The chip might make it easier to use outside the US. Chip and pin may be more secure in person. Does nothing for internet fraud. I am not understanding all the gnashing of teeth here over fraud. It doesn't ...
by bberris
Thu Sep 04, 2014 6:27 am
 
Forum: Personal Finance (Not Investing)
Topic: chip credit cards
Replies: 25
Views: 1587

Re: Variable annuity 100k in fees help (UPDATE)

Please don't leave this guy. We need the laughs. Got any more good ones?
by bberris
Tue Sep 02, 2014 4:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Variable annuity 100k in fees help (UPDATE)
Replies: 45
Views: 3242

Re: Trip to the Caribbean - Suggestions

I'll chime in with a couple good points about my home Island of Aruba - it's very easy to get around, and it is VERY safe, especially compared to the rest of the Caribbean Natalee Holloway. I have two reasons not to go to LA. Ron Goldman and Nicole Simpson. Actually three, it's not easy to get arou...
by bberris
Sun Aug 31, 2014 5:09 pm
 
Forum: Personal Consumer Issues
Topic: Trip to the Caribbean - Suggestions
Replies: 39
Views: 2715

Re: The Power of Zero: Controversial New Book About Taxes

Wouldn't politicians rather choose the hidden tax method -- i.e. inflation -- rather than outright taxes? That seems rather more likely to me. Inflation is like a tax on savers because it reduces their spending power. But it's not a tax on everyone. It's a benefit for debtors. Since every dollar is...
by bberris
Sat Aug 30, 2014 1:04 pm
 
Forum: Investing - Theory, News & General
Topic: The Power of Zero: [Book and tax planning for retirement]
Replies: 52
Views: 5481

Re: What if there were only index funds?

It's not going to happen. When indexing gets too big, active investors will be able to pick off a few bucks from indexers. Then that will attract more active managers. Then they won't be able to outperform the index anymore. We will just get to an equilibrium point where active management is just ma...
by bberris
Sun Aug 24, 2014 5:58 pm
 
Forum: Investing - Theory, News & General
Topic: What if there were only index funds?
Replies: 23
Views: 2267

Re: Do you tip on the tax? [Restaurants]

Yes I tip on the tax. But I give that tip to the state because of all their hard work.
by bberris
Fri Aug 22, 2014 10:17 pm
 
Forum: Personal Consumer Issues
Topic: Do you tip on the tax? [Restaurants]
Replies: 124
Views: 5257

Re: Do Super wealthy have access to different investing vehi

3) in terms of more return/less cost based on leverage. Yes. e.g, normal people pays 4% for 30-year mortgage, while if you have enough money you can pay less than 0.5%. I'm all ears for a source for this. (That means that I believe it to be false. :) ) While we're talking about the secret advantage...
by bberris
Sat Aug 16, 2014 4:25 pm
 
Forum: Investing - Theory, News & General
Topic: Do Super wealthy have access to different investing vehicles
Replies: 76
Views: 6468

Re: 2014 TaxACT online (fed+state), $13.99 'til Aug 31.

jlawrence01 wrote:I have a question.

Is there any way to download the 2014 software so that I can model our what my taxes will be for TY 2014?

From the 2013 version, click on "Next Year" tab and click through a few more pages to get an estimator for 2014 "Tax Calculator".
by bberris
Thu Aug 14, 2014 6:37 am
 
Forum: Personal Consumer Issues
Topic: 2014 TaxACT online (fed+state), $13.99 'til Aug 31.
Replies: 6
Views: 736

Re: Reticient sibling [Dispute over execution of trust]

in terrorem (no contest) are very handy for an executor who wants to steal the estate blind . We had a case where the executor awarded himself 60% of the estate and told the 4 sibs they would get NOTHING if they did not let him have the money. I'm not following. How does an executor award himself a...
by bberris
Mon Aug 11, 2014 9:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Reticient sibling [Dispute over execution of trust]
Replies: 31
Views: 3161

Re: "Russan Gang Amasses Over A Billion Stolen Passwords"

One of the problems with this is that Hold Security is not notifying sites if their credentials are in the database unless they pay a fee. This is really problematical. http://www.itworld.com/data-protection/430486/massive-russian-hack-has-researchers-scratching-their-heads I'm always wary of peopl...
by bberris
Sun Aug 10, 2014 2:58 pm
 
Forum: Personal Consumer Issues
Topic: "Russan Gang Amasses Over A Billion Stolen Passwords"
Replies: 87
Views: 7973

Re: "Russan Gang Amasses Over A Billion Stolen Passwords"

I'm skeptical about this. The guy is promoting protection service. How does he know?
I know it doesn't hurt to change your passwords. But the NYT and others sound way too gullible.
by bberris
Sun Aug 10, 2014 10:41 am
 
Forum: Personal Consumer Issues
Topic: "Russan Gang Amasses Over A Billion Stolen Passwords"
Replies: 87
Views: 7973

Re: FICO to raise credit scores

This raises an interesting question. Is there a limited amount of money available for consumer lending? I think there is. If so, it doesn't matter if everyone's score goes up. There's always someone in last place.
by bberris
Sat Aug 09, 2014 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: FICO to raise credit scores
Replies: 11
Views: 1866

Re: Telephone Calls! Help!

The free app whoscall will try to identify based on caller ID, and then give you the option to block the number. It also lets you know if another user identified or blocked it. I don't answer any caller id that I don't recognize. I figure I've lost out on 50 different lotteries, Nigerian legacies, a...
by bberris
Fri Aug 08, 2014 10:41 am
 
Forum: Personal Consumer Issues
Topic: Telephone Calls! Help! [Stopping telemarketing calls]
Replies: 105
Views: 7553

Re: Using a credit card to buy/sell bitcoin, Make $ volatili

Well you can always try to get away with it. Worst that can happen is Fed prison, which I've heard is not as bad as Angola. But I think you will more likely come back here asking "Can I write off my bitcoin losses against my income?"
by bberris
Wed Aug 06, 2014 7:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Using a credit card to buy/sell bitcoin, Make $ volatility
Replies: 7
Views: 785

Re: How do you document your HSA "stuff?"

I'm still trying to figure out how to prove that I was not reimbursed for my copays and deductibles. Blue cross sends me an eob that says that they didn't pay, but that doesn't prove that I didn't have a supplemental policy that paid.
by bberris
Mon Aug 04, 2014 7:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do you document your HSA "stuff?"
Replies: 38
Views: 2250

Re: HSA Strategy for high income earners

Keep in mind an additional HSA benefit is that you pay no payroll taxes on it. This is just a marginal benefit (1.45 % medicare tax) for those above the social security tax limit. But that makes it better than any ira or 401k on which payroll taxes must be paid. You aren't tied to your employer's HS...
by bberris
Mon Aug 04, 2014 9:08 am
 
Forum: Investing - Help with Personal Investments
Topic: HSA Strategy for high income earners
Replies: 79
Views: 5889

Re: credit card 0% teasing rate question

Check the terms. Usually the payments are applied first to the 0 % loan, meaning its not going to save you much if you already carry a balance.
by bberris
Fri Aug 01, 2014 10:16 am
 
Forum: Personal Finance (Not Investing)
Topic: credit card 0% teasing rate question
Replies: 8
Views: 514

Re: Individual Stocks with Perks

Inspired by a comment on another thread, let's discuss which individual stocks have perks that come with ownership of said stock. Example: Berkshire Hathaway shareholders get up to an 8% discount on their Geico insurance. I believe you only need to own a single share. All you need to do is tell Gei...
by bberris
Thu Jul 31, 2014 3:37 pm
 
Forum: Investing - Theory, News & General
Topic: Individual Stocks with Perks
Replies: 21
Views: 2268

Re: Taking out mortgage with zero down. Smart or no?

No, No, NO! My wife and I bought a house 9 years ago with no money down. We thought prices will never go down and only keep going up so we better buy now even though we have to finance 100%. Well the bottom dropped out and we are still underwater. You can tell yourself this will not happen to you b...
by bberris
Mon Jul 28, 2014 2:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Taking out mortgage with zero down. Smart or no?
Replies: 64
Views: 3349

Re: Financial planning plz advise

Right, no taxes and penalties. I was just pointing out that borrowing from a 401k does not leverage one's remaining investments in the 401k, because investments are sold to fund the loan. In that sense, its a withdrawal. You could compare that to borrowing from a margin account, where you actually a...
by bberris
Mon Jul 28, 2014 2:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Financial planning plz advise
Replies: 9
Views: 837

Re: Financial planning plz advise

Revision: I reread OP. I see that Google matches 1:1 up to 17.5 k. I see your logic in borrowing from 401k- you letting Goog to help you do some of your financing. Be careful that you are leveraging. Do you mean he's leveraging his 401k? Or his real estate investment? No, he's not leveraging his 40...
by bberris
Mon Jul 28, 2014 11:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Financial planning plz advise
Replies: 9
Views: 837

Re: Do any boggleheads invest in individual companies?

I own 1 share of BRK.B, just to get the 8% discount on my Geico bills :D In 2009/2010, I did invest in several companies which I thought would rebound faster than the whole market - Ford, Bank of America, Harley Davidson, Citibank, American Capital. 3 years later, the market had outperformed my sel...
by bberris
Mon Jul 28, 2014 9:26 am
 
Forum: Investing - Theory, News & General
Topic: Do any boggleheads invest in individual companies?
Replies: 95
Views: 5936
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