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Re: savings accounts offering 4%+????

Are you talking about Reward Checking Accounts? - FDIC Insured - Earns 3% - Requires so many debit transactions/months The companies that subsidize A CD interest rate to sell you annuities need to be local, so they can be in the same room and give you the high pressure sales pitch. Do you really wa...
by gsmith
Fri Jan 17, 2014 3:17 am
 
Forum: Personal Finance (Not Investing)
Topic: savings accounts offering 4%+????
Replies: 3
Views: 1135

Re: When to take RMD

If I understand the question, it's about tax minimization strategy. - Your RMD is calculated based on the IRA's value at the previous year's end. - You would rather be taxed on appreciation at capital gains rate in a taxable account instead of ordinary income inside an IRA. - You are speculating the...
by gsmith
Thu Jan 16, 2014 12:35 am
 
Forum: Investing - Help with Personal Investments
Topic: When to take RMD
Replies: 20
Views: 1251

Re: My dad goofed on his 2013 RMD. Cashed check in 2014.

I tend to think that you need to deposit in 2013 because someone could, in theory, never cash the check and continue "earn" on the RMD amount; that would defeat the purpose of RMDs. The distribution is more like a cashier's check, and often the check is for a lower amount due to tax withh...
by gsmith
Sat Jan 11, 2014 5:06 am
 
Forum: Personal Finance (Not Investing)
Topic: My dad goofed on his 2013 RMD. Cashed check in 2014.
Replies: 13
Views: 1645

Re: Windfall advice, please

Good day, Bogleheads! Relatively recently, a family member passed away, resulting in my inheriting a good chunk of poorly-diversified stock through Edward Jones, ballpark of $600,000 (four companies, all tech); as well as some cash and a 1/3 ownership in a small real-estate LLC. My EJ advisor is pu...
by gsmith
Thu Jan 09, 2014 4:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Windfall advice, please
Replies: 18
Views: 1795

Re: Would installing a French Drain (interior) be a good inv

The first barrier is injecting the crack with foam/drylok to seal the wall. The story makes sense if they filled a crack with drylok, and the gravity and water found the next weakest spot. Drain Tile has to do with water that has already gotten through the wall and is on the floor, as a second barri...
by gsmith
Wed Jan 08, 2014 7:56 pm
 
Forum: Personal Consumer Issues
Topic: Would installing a French Drain (interior) be a good invest
Replies: 50
Views: 9189

Re: Would installing a French Drain (interior) be a good inv

I noticed after this last few days of heavy rain/snow, that the blistering/bubbling of the paint/stain on the floor is chipping where they cut the floor. I guess I am just seeing if they are really telling me the truth in saying that it is common and that drylok will be fine. The worst part of the ...
by gsmith
Wed Jan 08, 2014 6:17 am
 
Forum: Personal Consumer Issues
Topic: Would installing a French Drain (interior) be a good invest
Replies: 50
Views: 9189

Re: Would installing a French Drain (interior) be a good inv

The Efflorescence is essentially salt from moisture.. It just indicated you had a water issue. The issue is water pressure... water will build up, until it finds an opening. It's extremely common for someone who fills a crack to find water entering nearby. That's why people will suggest french drain...
by gsmith
Tue Jan 07, 2014 6:28 pm
 
Forum: Personal Consumer Issues
Topic: Would installing a French Drain (interior) be a good invest
Replies: 50
Views: 9189

Re: Films on finance to influence family and friends

Thank you for the recommendation. I shall test it on myself. Do I really need to fly? I felt it appropriate to disclose any bias of being a captured audience for 8 hours in an aluminum tube filled with people and blades spinning from fire on both sides. I watched it later, and it was still entertai...
by gsmith
Sun Dec 29, 2013 12:54 am
 
Forum: Personal Consumer Issues
Topic: Films on finance to influence family and friends
Replies: 61
Views: 3014

Re: Films on finance to influence family and friends

Victoria, I really wanted to recommend "In Time".. It's a Sci-Fi movie staring Justin Timberlake, which is why I didn't watch it until I was on an airplane, but it was very well done, and JT will attract other audiences.. It uses this fascinating metaphor where everyone has a set amount of...
by gsmith
Sun Dec 29, 2013 12:39 am
 
Forum: Personal Consumer Issues
Topic: Films on finance to influence family and friends
Replies: 61
Views: 3014

Re: Just returned new laptop with Window 8.1

So what can you do with Windows 8, that you can't do with Windows 7, or for that matter Windows XP ? We have a "business rule" at my company that requires a significant increase in capability to justify the cost and risk of a software upgrade. ... it's amazing how few upgrades can be just...
by gsmith
Fri Dec 27, 2013 7:11 pm
 
Forum: Personal Consumer Issues
Topic: Just returned new laptop with Window 8.1
Replies: 104
Views: 8889

Re: Just returned new laptop with Window 8.1

I don't want to veer too far into the rules against speculation. It's a fact that the Windows 8 the experience is much better if you are on a touchscreen, and the market share is minimal. They have announced they are dropping support for Windows RT, which was Windows 8 for ARM, and they will have a ...
by gsmith
Fri Dec 27, 2013 6:50 pm
 
Forum: Personal Consumer Issues
Topic: Just returned new laptop with Window 8.1
Replies: 104
Views: 8889

Re: Just returned new laptop with Window 8.1

Just to explain what the "personal" and "business" bit is... Virtually no (sane) businesses runs Windows 8. Overall it has less then 10% marketshare , and the software they use for faxing and accounting just will not be certified to work with that small a share. Also, the costs o...
by gsmith
Fri Dec 27, 2013 4:38 am
 
Forum: Personal Consumer Issues
Topic: Just returned new laptop with Window 8.1
Replies: 104
Views: 8889

Re: 401k terminated with no notice

There could be a couple things happening.... 1. The employer is terminating the plan, and creating a new plan with a new trustee... say from Vanguard to say Mass Mutual. Unfortunately other then resigning and doing a rollover, I believe you will be forced into the new trustee, and any fees they arra...
by gsmith
Mon Dec 16, 2013 7:40 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k terminated with no notice
Replies: 20
Views: 2530

Re: Could use some help with cheap gaming compture

To answer the question... the graphics card on the HP @ Best Buy, while horrid, will be slightly better.

I honestly, would buy a inexpensive but good PC on sale, and put a $100-$200 graphics card inside it.
Those PCs you linked to are luke-warm at best.
by gsmith
Sat Dec 07, 2013 5:26 pm
 
Forum: Personal Consumer Issues
Topic: Could use some help with cheap gaming computer
Replies: 43
Views: 1732

Re: Could use some help with cheap gaming compture

The advantage desktops have over laptops is that the parts are more interchangeable. I haven't been in the market for a gaming PC the last few years, but my advice is to pick up a cheap PC and put in an aftermarket video card. Games tend to stress out all the hardware to it's maximum. They are the m...
by gsmith
Sat Dec 07, 2013 5:18 pm
 
Forum: Personal Consumer Issues
Topic: Could use some help with cheap gaming computer
Replies: 43
Views: 1732

Re: creditor protection, 401k vs Roth/TIRA

There are a lot of finance articles that spell it out in laymen's terms, but I too was looking for a legal article to reference: Through google, I found what appears to be a lawyer's guide on the topic: http://www.shefskylaw.com/66BE91/assets/files/Documents/Retirement%20Plans%20and%20Creditor%20Pro...
by gsmith
Fri Feb 01, 2013 3:29 am
 
Forum: Investing - Help with Personal Investments
Topic: creditor protection, 401k vs Roth/TIRA
Replies: 3
Views: 367

Re: Chicago chapter meeting

As much as I hate "me too" posts, I'd be interested in attending as well.

Thanks!
by gsmith
Thu Jan 31, 2013 2:37 am
 
Forum: Local Chapters and Bogleheads Community
Topic: Chicago chapter meeting
Replies: 60
Views: 6646

Re: Have you received new 401K fee disclosures at your compa

We just got ours.... I believe we're in the 2MM range of assets. Asset-Based Fees. The annual Investment Management Fee, which is determined based on the aggregate amount of the Plan assets and is charged to your account pro-rata, will be approximately 0.70% of your account balance. Note that this i...
by gsmith
Wed Aug 15, 2012 10:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you received new 401K fee disclosures at your company?
Replies: 33
Views: 2716

Re: MDOR bankruptcy, total loss, and what to do now

In a bankruptcy, there's an priority of creditors: IRS Employee Wages Secured Creditors Unsecured Creditors Preferred Stockholders Common Stockholders (You) If there's no money left, the next tier gets nothing. You're entitled to whatever's left over, which is very speculative. Chances you'll get a ...
by gsmith
Sun Jun 03, 2012 4:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: MDOR bankruptcy, total loss, and what to do now
Replies: 9
Views: 1026

Re: schedule K-1 for UGL-ProShares Ultra Gold (ETF)

If you want Gold that bad, consider GLD. No K-1. Why do you say that? My understanding is that if it's in an IRA I can pretty much put the K-1 form into a shredder as soon as it comes in the mail. http://www.taxalmanac.org/index.php/Discussion:K1_held_in_an_IRA_account http://en.wikipedia.org/wiki/...
by gsmith
Sat Mar 31, 2012 10:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: schedule K-1 for UGL-ProShares Ultra Gold (ETF)
Replies: 26
Views: 2248

Re: After tax contributions to a 401k

The document you should ask for is the "Summary Plan Document", and possibly the Organizing Documents themselves. At the company I work for, HR has a binder for 401k audits with checkmark boxes describing the various restrictions they chose to place on funds. In our case, adding after-tax+...
by gsmith
Wed Mar 14, 2012 1:51 am
 
Forum: Investing - Help with Personal Investments
Topic: After tax contributions to a 401k
Replies: 75
Views: 5580

Re: Schwab gets later with 1099s every year

This being my first year at Schwab, does anyone find their substitute 1099-B confusing? I spent 15 min on the phone, asking where is the information for 6b (basis reported to IRS) only to be told that it was likely ticked if I purchased the security in 2011. I realize they want me to use Turbo-Tax t...
by gsmith
Wed Feb 15, 2012 12:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Schwab gets later with 1099s every year
Replies: 12
Views: 1374

Re: After tax contributions to a 401k

Thanks Brian. Are there ever instances for young investors (I'm 30) when this may not be the preferred approach, instead of investing the money in a taxable account? I understand that by moving more work earnings into the Roth (through the rollover) the money won't be accessible for years to come. ...
by gsmith
Tue Feb 14, 2012 11:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: After tax contributions to a 401k
Replies: 75
Views: 5580

Re: Lifecycle Investing Leverage Strategy Using LEAPS - How

grok87 wrote:sounds good- can one do this at fidelity?

These are index options, so I imagine they should, just run an option chain on $SPXPM
by gsmith
Tue Feb 14, 2012 10:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Lifecycle Investing Leverage Strategy Using LEAPS - How To?
Replies: 136
Views: 8739

Re: Lifecycle Investing Leverage Strategy Using LEAPS - How

I've been purchasing puts on SPY in my Roth IRA, and I couldn't be happier with the tax treatment. They've recently come out with SPXPM options that would make more sense if they were better spreads (In Schwab, Research>Options>Chains>$SPXPM) -1256 Contract (60% long term, 40% short term tax treatme...
by gsmith
Tue Feb 14, 2012 4:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Lifecycle Investing Leverage Strategy Using LEAPS - How To?
Replies: 136
Views: 8739

Re: After-tax 401k Contrib versus Taxable Account. Please He

The 17k limit applies to employee "tax deferrals" to a defined contribution plan (Traditional 401k/Roth 401k). The 49k limit applies to everything above, employer matches, and After-Tax 401k contributions. (A segregated account) You do not need to max out Traditional/Roth 401ks to contribu...
by gsmith
Sat Feb 11, 2012 9:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: After-tax 401k Contrib versus Taxable Account. Please Help!
Replies: 9
Views: 567

Re: Seeking advice re: Raymond James

DBR gave the best answer to the question. SIPC protects against the broker stealing the securities, not against loss of value. You probably want to compare the fees between Wells Fargo and Raymond James very closely. If you decide that the fees are fair, the management style doesn't change, and that...
by gsmith
Wed Jan 18, 2012 10:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking advice re: Raymond James
Replies: 15
Views: 1844

Re: Fidelity's Spartan Global ex U.S. Index Fund - good choi

Does this ratio seem reasonable for an investor that wants global diversity in accordance with roughly the market weight? Referencing: http://www.bogleheads.org/wiki/Approximating_Total_Stock_Market http://portfolios.morningstar.com/fund/summary?t=FSGDX&region=USA&culture=en-us FSGDX is 90%...
by gsmith
Tue Dec 27, 2011 4:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Fidelity's Spartan Global ex U.S. Index Fund - good choice?
Replies: 11
Views: 2644

Re: To Alan S: Rollover of After Tax Earnings to IRA

I'm not Alan, but I can take a stab. I realize that I only contributed after tax dollars, about $20,000. If this is indeed an "After-Tax employers plan" and not a "Roth", it is my understanding any earnings would be tax deferred. I made one conversion from the original plan holde...
by gsmith
Tue Dec 27, 2011 2:54 am
 
Forum: Personal Finance (Not Investing)
Topic: To Alan S: Rollover of After Tax Earnings to IRA
Replies: 7
Views: 522

Re: My Employer's 401k/Roth (401k) provider change

Hi, and welcome! As far as I know, transferring the funds from the old 401k to the WF 401k is the only option. Does a rollover to a IRA have restrictions such as age and employment or company 401k restrictions? This makes sense. There are only a few "triggering events" that the government ...
by gsmith
Mon Dec 19, 2011 9:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: My Employer's 401k/Roth (401k) provider change
Replies: 3
Views: 695

Re: help with avoiding a cashier's check scam

The way Cashier check scams are typically done is that - You deposit the check - The bank is forced to expedite the clearing of the check - Confidant that the funds are available, you then wire/write check for the refund/overpayment. - Bank realizes the check is a fake, and takes the money out - You...
by gsmith
Tue Dec 13, 2011 2:55 am
 
Forum: Personal Finance (Not Investing)
Topic: help with avoiding a cashier's check scam
Replies: 15
Views: 2112

Re: Sell in IRA and buy in taxable account. Wash Sale?

There is a year old discussion with some citation on another forum: http://www.fatwallet.com/forums/finance/1059368/ That in turn cited this thread at site for accountants: http://www.taxalmanac.org/index.php/Discussion:Wash_Sales,_Options_and_IRAs I don't believe there is a consensus. Cheers, Greg
by gsmith
Sat Nov 19, 2011 9:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Sell in IRA and buy in taxable account. Wash Sale?
Replies: 9
Views: 580

Re: $54K Tax Advantaged Space Per Year

Hmmm.. Now I am concerned. Cashistrash looks to be correct here. Following the trail from his Fairmark link I found this IRS newsletter entry to employers: The article was last updated in February 2010; the IRS newsletter was from Fall of 2008. I would look at YDNAR's posts http://www.bogleheads.or...
by gsmith
Sun Oct 30, 2011 9:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: $54K Tax Advantaged Space Per Year
Replies: 25
Views: 2891

OP said his preference was Dell, but I've found them pretty expensive. Some of us got burned by Dell's exploding capacitor issue, and don't see them as reliable. They also depreciate as fast as cars, by the time the warranty runs out, you can get one that's 2x as fast for 1/2 the cost. For the price...
by gsmith
Sun Oct 09, 2011 7:57 pm
 
Forum: Personal Consumer Issues
Topic: Advice for buying a new Laptop
Replies: 91
Views: 8963

Re: all in my 401k or ???

but i dont want to put all my eggs in one basket and have just started putting some money im my 401k im setting aside 11 % ..with my companys match of 9% im socking away about $500 dollars a month and at this time my 401k is at $43000. i still have around $500 extra a month, that is my play money. ...
by gsmith
Mon Aug 29, 2011 1:23 am
 
Forum: Investing - Help with Personal Investments
Topic: all in my 401k or ???
Replies: 4
Views: 911

1. AMEX is notoriously through/stingy with credit lines. Someone with your means and little record probably comes across as an outlier in their system. I'd ask to speak to a human. 2. There's no correlation between FICO and income. I have a friend on SS disability with a 800 credit score because she...
by gsmith
Sun Jul 31, 2011 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Denied Delta SkyMiles AMEX Card
Replies: 9
Views: 1938

This is not legal advice but I've been told by a friend who's considering it after getting into a bad car accident. Please contact your attorney -Employer Plans under ERISA (401ks) are not considered part of a person's estate for bankruptcy reasons. (IRA is exempt up to a million dollars)* -Settleme...
by gsmith
Fri Jul 22, 2011 1:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Do they ever reclaim goods from people claiming bankruptcy?
Replies: 23
Views: 2105

you should easily find a system <400>$100), the All-In-Ones may make sense (problem is when you upgrade you will need a new screen again). All in ones (at least from Sony) are built w/ mostly laptop parts, and have difficult to repair/upgrade. I admit the compact sleek designs look attractive, but ...
by gsmith
Thu Jul 21, 2011 10:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Need a PC...Clueless what to buy. Advice?
Replies: 51
Views: 6757

aida2003, Amazon is a great shop, but doesn't have the best pricing for this sort of thing. That said.. http://www.amazon.com/HP-Pavilion-Quad-Core-7200RPM-Windows/dp/B004G5ZTM4 @ $570 it's a midrange PC w. no monitor. A Better Non-Amazon deal: (both in PC and in price) $400 w/ free ship - 750 GB/6G...
by gsmith
Thu Jul 21, 2011 8:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Need a PC...Clueless what to buy. Advice?
Replies: 51
Views: 6757

Re: Stock Purchases on Margin for Retirement Savings

The article advocates the purchase of stocks on margin at 2:1 while young. The general gist of their argument is that historically, the risk premium for equities has always been greater than the risk premium for margin. Margin is akin to steroids. Sure they can enhance performance and the side effe...
by gsmith
Wed Jul 20, 2011 8:50 pm
 
Forum: Investing - Theory, News & General
Topic: Stock Purchases on Margin for Retirement Savings
Replies: 13
Views: 1116

http://www1.salary.com/Real-Estate-Agent-salary.html Average agent makes $37k, and the turnover is incredible. They typically earn 6% commission, but must split it with buyer's realtor and staff. Being new in the field earns next to nothing, especially if you have no specialty. 2) how does one creat...
by gsmith
Sat Jul 16, 2011 1:02 am
 
Forum: Personal Consumer Issues
Topic: what % of realtors/associates may > $40k /year ?
Replies: 7
Views: 1956

What is the discount rate and how can I determine what I should enter for it? Well, I chose 6.5% as the more conservative estimator from the range suggested in the article I linked. A higher discount rate means a lower present value. However, I'm not a finance guy, so can't give you a reasoned expl...
by gsmith
Thu Jul 14, 2011 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much is a Pension Worth?
Replies: 22
Views: 3020

The point is if you can be certain that you'll be able to sell those stocks to pay your bills then why would you need bonds at all? Why not just make your AA 100% equities and sell what's needed in your taxable account? Obviously, the entire purpose of allocating a portion of your portfolio to bond...
by gsmith
Thu Jul 14, 2011 3:15 pm
 
Forum: Investing - Theory, News & General
Topic: criticism: bonds in tax shelters and uniqueness tilting
Replies: 66
Views: 2971

livesoft wrote:gsmith, then keep your Roth/emergency fund in a short-term bond fund and not in a fund that would be affected "when the market nosedives 30-50%."
I edited my post to make this more apparent.

Thanks,

Greg
by gsmith
Tue Jul 05, 2011 2:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: ROTH ira as emergency fund
Replies: 14
Views: 1413

Re: Roth IRA

Why not just keep all of the funds in, for example, a Vanguard Roth IRA mutual fund. The money is very easy to get to, has the opportunity to still grow at a much higher rate than CD/bond, etc... Of course, I can only utilize the contributions without penalty, but as a emergency fund only, that wou...
by gsmith
Tue Jul 05, 2011 2:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: ROTH ira as emergency fund
Replies: 14
Views: 1413

Re: Switching 401k providers - my options

Im assuming that I'll receive a check in the mail (or can request one) when the old plan terminates and then will need to deposit the proceeds into the new plan within a certain number of days. What you're describing is called a "triggering event". While employer termination of the 401K p...
by gsmith
Tue Jul 05, 2011 3:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Switching 401k providers - my options
Replies: 5
Views: 578

How is this illegal? And it's $2k, who cares about the risk? I believe there is SEC/FINRA rules about "unofficial margin". Regardless, in 15 months, he will either need to accept the riskier AA, or sell for short term loss/gain. This does not sound very BHish. If his allocation is 70% sto...
by gsmith
Tue Jul 05, 2011 3:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I buy bonds/stocks/other investments with a credit card?
Replies: 20
Views: 1601

That makes more sense. If he's got money, then why not just throw this into his normal asset allocation and worry about finding $2k 15 months from now? It doesn't need to be short term does it? Also, having a maxed out credit card might actual hurt your credit score more than help it. I'm not sure ...
by gsmith
Tue Jul 05, 2011 2:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I buy bonds/stocks/other investments with a credit card?
Replies: 20
Views: 1601

1. Having a credit utilitatization over 1% does not increase his credit score. 2. Cash advance is eqiv. to payday loan, don't do it. 3. Most banks see transactions to financial places as cash advances. (I opened a bank account, making my initial deposit with Discover.) 4. Most sane places will not e...
by gsmith
Tue Jul 05, 2011 2:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I buy bonds/stocks/other investments with a credit card?
Replies: 20
Views: 1601

ETFs, I tell ya, are the first big step on th' road t' degraydaytion. They turn honest investors into adrenaline-crazed, hopped-up speculators who don't eat, don't drink, don't sleep! They stay glued to their screens I say glued twenty-four-seven staring, staring, staring! Getting burned out eyebal...
by gsmith
Wed Jun 29, 2011 10:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: "My first time" (Buying an ETF that is)
Replies: 86
Views: 11338
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