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Re: I'm on a mission for more security

To me, your step number 1 is accurate, and I highly recommend 1Password. Just make sure to set it so it locks out frequently and change your master over time. Multistep authentication is a good big one, too.
by jmg229
Tue Apr 15, 2014 7:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm on a mission for more security
Replies: 15
Views: 1421

Re: deferred comp plans

It is sometimes hard to grasp (I know it took me a while to get my head around it), but gains in either an after tax then tax free (think Roth) or pretax then taxed account (think 401(k) or Deferred comp plan) are not taxed at all assuming equal tax rates at time of contribution and withdrawal. can...
by jmg229
Sun Apr 13, 2014 12:06 am
 
Forum: Personal Finance (Not Investing)
Topic: deferred comp plans
Replies: 20
Views: 1348

Re: Calculate effect of mortgage-interest deduction

I think that the moral of the story, get back to the OPs second point, is that in seeking and giving advice on issues related to tax-adjusted mortgage rates, assumptions cannot be made and either the poster needs to provide information on whether or not they itemize and if all or part of the interes...
by jmg229
Tue Apr 08, 2014 12:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Calculate effect of mortgage-interest deduction
Replies: 11
Views: 673

Re: Graduate School Loans

So no matter my income in the future, you're saying as long as I pay the minimum, in 25 years it will all be paid off? I found this page talking about it, ( http://studentaid.ed.gov/repay-loans/understand/plans/income-based ) but I'm not sure if I would qualify as I'd ideally be making more money i...
by jmg229
Mon Apr 07, 2014 12:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Graduate School Loans
Replies: 13
Views: 796

Re: Graduate School Loans

Are any of these federal loans that qualify for IBR (Income Based Repayments)? Before you borrowed so much money, did you consider how much the payments would be compared to the income you might expect? It's going to be very difficult to pay them off any time soon with that income. What are the min...
by jmg229
Sun Apr 06, 2014 11:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Graduate School Loans
Replies: 13
Views: 796

Re: Moving Advice: How do I make my move economical?

I've now done 3 cross country moves with questionable vehicles using your first option. Media mail is great. Put everything else on the car, get the best AAA membership you can, and take it slow. I have found that Uhaul, Penske, and the like are prohibitively expensive. Buying a new car in Indiana i...
by jmg229
Sun Apr 06, 2014 11:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Moving Advice: How do I make my move economical?
Replies: 16
Views: 866

Re: somoene filed a return with my spouses SSN?

I seem to miss here something, but is there nobody at the IRS checking a SSN against the correct name and address? Or are they shipping that money to any name, address, bank account not associated with that SSN? Then IRS would be at fault. I have heard through a friend who works in the field that t...
by jmg229
Sun Apr 06, 2014 11:30 am
 
Forum: Personal Finance (Not Investing)
Topic: somoene filed a return with my spouses SSN?
Replies: 22
Views: 1737

Re: best way to freeze and monitor credit?

You need to file an identity theft report and contact the credit reporting agencies. Follow instructions here: For general identity theft stuff: http://www.consumer.ftc.gov/features/feature-0014-identity-theft For info on credit freezes: http://www.consumer.ftc.gov/articles/0279-extended-fraud-alert...
by jmg229
Sat Apr 05, 2014 11:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: best way to freeze and monitor credit?
Replies: 2
Views: 293

Re: I accidentally discovered a coworkers salary... now what

Let me preface this with the fact that I work in a situation where all salaries are published to a public website, so my feelings on this may be a bit different than others' on the board. 1. I think it is worth trying to let her know that this personal information is where it shouldn't be, but could...
by jmg229
Fri Apr 04, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: I accidentally discovered a coworkers salary... now what?
Replies: 59
Views: 5410

Re: Bogleheads 2014 Hedge fund contest

System is up and running. The standings will be updated automatically every day around 6:30 pm Eastern; the page will be at http://libra-investments.com/hf/bh.html. dmcmahon wins the fund name contest with "Quantitative Teasing" so gets a bonus of 1% on all the positions in that fund. The...
by jmg229
Fri Apr 04, 2014 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: Bogleheads 2014 Hedge fund contest
Replies: 125
Views: 8047

Re: Taxes for NY Long Is. Resident but PA student

My nephew is a full time student in PA and made some money during the summer in PA. For fed, he files a 1040-EZ form. My dumb questions are: 1. Does he need to file NY state income taxes IT-201 since all income and taxes were withheld in PA? Does he qualify for standard deduction since he was claim...
by jmg229
Wed Apr 02, 2014 9:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes for NY Long Is. Resident but PA student
Replies: 6
Views: 440

Re: Paying student loans vs Losing compounding interest

Jimb That's going to take some time for me to digest. Thank you for the response. It makes sense on paper however why does the general consensus here always seem to be to pay down high interest debt first? There are two things I see missing from Jimb's calculations (as best as I can follow them): F...
by jmg229
Tue Apr 01, 2014 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying student loans vs Losing compounding interest
Replies: 41
Views: 2584

Re: Joint but still "separate accounts"

I think that if this is what works for you, it makes sense. I do think there is some advantage in making the "separate accounts" joint for a number of reasons, including ones you point out, so if you go the separate accounts route, this seems to make sense. You may want to still consider a...
by jmg229
Mon Mar 24, 2014 11:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Joint but still "separate accounts"
Replies: 13
Views: 1175

Re: Car Loan Paydown or Roth IRA?

I'm going to be a contrarian because of the following: What I also thought about was what if I put all the extra into the car payment right now and then when the payment disappears, apply all of that to hit the cap for 2014 before April 15, 2015. The important piece is that you use up all of your 20...
by jmg229
Sun Mar 23, 2014 10:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Car Loan Paydown or Roth IRA?
Replies: 16
Views: 781

Re: Is this Retirement plan doable?

One other point: You have not taken into account a full COLA adjustment here. Your pension is not adjusted, while SS will be (the extent to which this is a useful COLA is debatable, but beyond my point). You may need some nest egg to fill in that gap as well unless you expect expenses to grow at low...
by jmg229
Fri Mar 21, 2014 11:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is this Retirement plan doable?
Replies: 10
Views: 1142

Re: 401 match (poll)

My wonderful little school I work for provides 7% regardless of employee contribution.
by jmg229
Fri Mar 07, 2014 12:01 am
 
Forum: Personal Finance (Not Investing)
Topic: 401 match (poll)
Replies: 33
Views: 1766

Re: Joint or Separate Accounts? - Married Couples

See that is what I'm having trouble understanding right? Let's say that the total income split is 70% me/30% her, then how would you "parcel out some to each of the separate accounts"? Whatever is left over is a 70%/30% split? I wouldn't do it that way. If you jointly make a lot, then you...
by jmg229
Thu Mar 06, 2014 11:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Joint or Separate Accounts? - Married Couples
Replies: 82
Views: 3359

Re: Concerns re: Relocating to Illinois (Chicago)

I could not imagine changing the decision on whether or not to buy a house substantially due to the fiscal state of the state in which I was living. Perhaps that is naive of me. What exactly are you expecting for consequences that substantially shape the decision about buying real estate there?
by jmg229
Thu Feb 27, 2014 10:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Concerns re: Relocating to Illinois (Chicago)
Replies: 40
Views: 2687

Re: Risk of New Jersey Govt. Employee Benefit Cuts

Now that my memory is coming back about this, here you go: Chapter 78, P.L. 2011, the Pension and Health Benefit Reform Law, suspended future Cost-of-Living Adjustments (COLA) for all retirees of all retirement systems. This suspension is effective for benefit payments made as of August 1, 2011. It ...
by jmg229
Thu Feb 27, 2014 9:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Risk of New Jersey Govt. Employee Benefit Cuts
Replies: 9
Views: 830

Re: Risk of New Jersey Govt. Employee Benefit Cuts

Were the benefit cuts only applied to those who hadn't already retired? Is there a constitutional or other barrier to applying them to those who already have retired? If both of those are true, I would retire before any more cuts could be applied. The cuts in 2011 applied to both currently and soon...
by jmg229
Thu Feb 27, 2014 8:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Risk of New Jersey Govt. Employee Benefit Cuts
Replies: 9
Views: 830

High School Financial Literacy

I couldn't find much on this in the archives, so thought I'd ask anew, sorry if it's a repeat. Has anyone had any good experiences with financial literacy curriculum for high school level students? I am trying to help my school find a solution that is more than just stock picking and paying to use t...
by jmg229
Thu Feb 27, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: High School Financial Literacy
Replies: 4
Views: 275

Re: What auto loan do you have?

We got a quote from USAA, but Capital One 360 (through the dealer) was able to beat it by quite a bit. If you do go with dealer financing, be sure to not let them know your other offers.
by jmg229
Fri Feb 14, 2014 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: What auto loan do you have?
Replies: 14
Views: 1152

Re: Tax-Efficiency Question

Thank you for the responses so far. I'm looking for information because I think that the strategy may be different for those in a low tax bracket, or at least the logic behind the strategy may be different, so anything tailored to this as opposed to high salary individuals will be much appreciated. ...
by jmg229
Sun Feb 09, 2014 10:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax-Efficiency Question
Replies: 9
Views: 793

Tax-Efficiency Question

I know that these questions get asked frequently, so I tried the wiki and am just looking for some confirmation. I am married and in the 15% federal tax bracket (~5% state). We max out our Roth IRAs and I nearly max my 401k (wife doesn't have one available). We have recently come into a windfall and...
by jmg229
Sun Feb 09, 2014 9:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax-Efficiency Question
Replies: 9
Views: 793

Re: B&M Banks and Online Banks and Credit Unions - Oh My

A couple days ago I decided to open an Ally checking and savings account. After entering all my information, I landed on a page saying my application was under review and that I needed to call Ally Bank to discuss further. I called and the customer service rep asked for a bunch of repeat informatio...
by jmg229
Sun Feb 09, 2014 1:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: B&M Banks and Online Banks and Credit Unions - Oh My
Replies: 15
Views: 1241

Re: How much financial support should you give your kids?

I would also disagree with the statement about many smaller gifts, I think that a big one-time gift is less likely to be spent away. 3-5 thousand is "now I can afford ____" money, while 100 thousand is "I can really do something big" money, in my mind. Well, if OP gives them $10...
by jmg229
Sun Feb 02, 2014 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much financial support should you give your kids?
Replies: 53
Views: 3213

Re: How much financial support should you give your kids?

Personally, I'd wait until they are in their mid-late 20s. I am around there now and know that I could do a lot more with that kind of money now than I could have 5 years ago. Yes, people tend to struggle right out of college, but I think it is a good kind of struggle. Then, once they've gotten up o...
by jmg229
Sun Feb 02, 2014 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much financial support should you give your kids?
Replies: 53
Views: 3213

Re: What interest rate did you get on your car loan?

Just acquired a 36 month at 1.00%. They were willing to extend the 1.00 for up to 48 months, but we opted for the shorter time frame, though I now wonder if that was the smartest idea given where CD rates are. As it is, we will nearly break even with safely investing the amount we had saved up and i...
by jmg229
Sun Feb 02, 2014 12:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: What interest rate did you get on your car loan?
Replies: 71
Views: 3724

Re: Online Budget System

I personally just like a good googledoc. It's free, it's entirely customizable, it requires that I actually type in my transactions (which is very powerful in reducing spending, I find), and I can access it anywhere and share easily with the significant other. I've used Mint, but didn't like the lac...
by jmg229
Sat Jan 25, 2014 1:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Online Budget System
Replies: 6
Views: 486

Re: Rent and save for next 5 years or stretch now?

Is it stupid of me to throw away $3-4k/month in rent for the next 5 years? This makes me think that you are thinking about it the wrong way. Compare the costs over time (try the NYTimes rent vs. buy calculator) and see which is more expensive, then decide if that is a cost you are willing to pay to...
by jmg229
Sun Jan 19, 2014 5:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rent and save for next 5 years or stretch now?
Replies: 38
Views: 2665

Re: Spare SUV vehicle - Snow Travel

Iorek wrote:I'd third looking at Subarus.


Yes to this. And specifically, I am in love with the Crosstreks. Only available new, but the gas mileage on them is great and it is a really nice AWD vehicle. Spacious without being as large as an SUV (plus, it comes with heated seats standard).
by jmg229
Fri Jan 17, 2014 9:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spare SUV vehicle - Snow Travel
Replies: 26
Views: 1472

Re: Critique of an actively managed fund

I guess a side question is, regarding active vs passive investing, how long of a time frame should one care about when considering returns. I would only care about future time periods, which history has told us don't look so rosy for your average active fund. Basically I wonder how much underperfom...
by jmg229
Fri Jan 03, 2014 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Critique of an actively managed fund
Replies: 17
Views: 1037

Re: Spending money abroad

I do a lot of travel for fun and business including South Africa. There is no need for cash. I take my travel account debit card and 3 credit cards. The debit card is in case I need cash and I get it from an ATM. But in 9 out of 10 trips, I do not need any cash whatsoever. The one or two times I us...
by jmg229
Fri Jan 03, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spending money abroad
Replies: 46
Views: 2370

Re: Investing in a food truck

Anyone have any experience investing in or working with food trucks? I am considering investing in a start up food truck biz and thought someone here might have personal experience in it on the ups/downs, considerations, gotchas etc.... Thanks! are you investing in someone else that owns a food tru...
by jmg229
Fri Jan 03, 2014 5:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Investing in a food truck
Replies: 24
Views: 2344

Re: Penfed 5 yr CD 3 %, Auto loan 0.99 % = free lunch?

Like G-Money hinted, the auto loan has you paying principal throughout the term, so it's more like 1.5 years duration (-ish, too lazy for exact calculation now). The going rate for 1.5 year money is more like 1.2%, much less of a free lunch. Both products, and particulaly the CD, are designed to re...
by jmg229
Fri Jan 03, 2014 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Penfed 5 yr CD 3 %, Auto loan 0.99 % = free lunch?
Replies: 6
Views: 841

Re: Penfed 5 yr CD 3 %, Auto loan 0.99 % = free lunch?

I am going to be holding onto an auto loan because it nets out to even when I use a combination of CDs (12, 18, 24, and 30 month) to manage the cash flow of the car purchase instead of just paying a large amount of cash. It does seem to be a free lunch in some of these cases. It is important to figu...
by jmg229
Fri Jan 03, 2014 3:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Penfed 5 yr CD 3 %, Auto loan 0.99 % = free lunch?
Replies: 6
Views: 841

Re: How much TIPS during accumulation phase?

I like David Swensen's analysis of this question. The market sets a price for TIPS based on the expected level of inflation. If inflation is lower than expected, TIPS are worse than bonds. If inflation is higher than expected, they're better. If the market is efficient, it's a coin flip whether TIP...
by jmg229
Fri Jan 03, 2014 1:50 pm
 
Forum: Investing - Theory, News & General
Topic: How much TIPS during accumulation phase?
Replies: 74
Views: 4472

Re: Credit Cards with Annual Fees?

I have one fee card and the rest are non-fee. When deciding whether or not to keep it I compare my rewards on the fee card, subtract out the cost, and compare to rewards if I had used another one of my cards or a hypothetical card I think we could get. In your case, it looks like you are doing bette...
by jmg229
Wed Jan 01, 2014 12:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Cards with Annual Fees?
Replies: 19
Views: 1747

Re: Auto Insurance for College Student

Unless Alabama is a no-fault state, I would forego comprehensive on a $4000 car, and increase the liability. I insure myself, and have only had comprehensive on the rare occassions where I had a loan on the car requiring it. I would second this. Comprehensive on a car that is that inexpensive is un...
by jmg229
Tue Dec 31, 2013 2:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance for College Student
Replies: 6
Views: 405

Re: Newly Weds Part 2: Basic retirement and savings question

Whether you should defer purchases like a house or a car depends upon how much you want a house or a car. If you actually want those things, and don't just want them to the same extent that you want 3257 other things, and you can still contribute a total of perhaps 10-15% to retirement, that's fine...
by jmg229
Tue Dec 31, 2013 2:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newly Weds Part 2: Basic retirement and savings question
Replies: 5
Views: 530

Re: Bogleheads 2014 Hedge fund contest

Bravo PP Holdings

Long:
NAVR
DD

Short:
GRPN
ANF
by jmg229
Fri Dec 27, 2013 7:41 pm
 
Forum: Investing - Theory, News & General
Topic: Bogleheads 2014 Hedge fund contest
Replies: 125
Views: 8047

Re: Mortgage question

In the 20% down scenario, the extra $70K is extra freed up equity that went in the bank account. I didn't reconcile every dollar. ... And yes, I am 2 years into a 3.4% mortgage on the lake house. And while I would be paying off a 3.4% mortgage with a 3.75% mortgage, the difference in dollars is min...
by jmg229
Thu Dec 26, 2013 9:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage question
Replies: 5
Views: 880

Re: Advantages/Disadvantages of a Trust

Just my own perspective but 3-5 years seems like an awfully short time to go to all the hassle of creating a trust. I guess one question is where is the money now and why wouldn't whatever is driving the "needs to be distributed" part already answer the question. Do you mean that the chld...
by jmg229
Mon Dec 23, 2013 7:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advantages/Disadvantages of a Trust
Replies: 6
Views: 779

Re: Windfall - Advisor Red Flags

Thank you for the responses so far. Perhaps I need to clarify my question. I am not seeking advice on how to manage a windfall, how to choose an advisor, or whether or not to use an advisor. What I am looking for is any big investment suggestions that a poor to mediocre advisor is likely to make to ...
by jmg229
Mon Dec 23, 2013 4:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Windfall - Advisor Red Flags
Replies: 31
Views: 1795

Windfall - Advisor Red Flags

Our family has just experienced a rather large for us windfall and have been seeking out the advice of a financial advisor that was known through some work connections. I am skeptical of any advisors, but if this is the route that is being undertaken, I was looking for feedback on any big red flags ...
by jmg229
Mon Dec 23, 2013 3:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Windfall - Advisor Red Flags
Replies: 31
Views: 1795

Advantages/Disadvantages of a Trust

My family is trying to figure out what to do with a set of money (low-mid 6 figure each) that needs to be distributed to two children in 3-5 years. The goal is to give access to small distributions from it between now and then and then the lump sum upon turning a certain age. The two main options we...
by jmg229
Mon Dec 23, 2013 3:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advantages/Disadvantages of a Trust
Replies: 6
Views: 779

Re: Unaffordable Coverage per ACA

In the past, an employer's offer of spousal coverage, even without a contribution, was a good benefit because the spouse might be unable to buy individual insurance because of pre-existing conditions That is because in the past it was affordable. It is not today. Is the spouse not eligible only bec...
by jmg229
Thu Dec 19, 2013 12:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Unaffordable Coverage per ACA
Replies: 46
Views: 3582

Re: Switch Entirely To Ally Bank?

I have been using USAA and CapitalOne (then ING) as my only banks for years. Never needed Medallion (even for I Bonds). The only challenge I sometimes find is large amounts of cash. Typically I just hold it and use it slowly, or I find a trusted friend/family member with a B&M to deposit it and ...
by jmg229
Sun Nov 17, 2013 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Switch Entirely To Ally Bank?
Replies: 39
Views: 3748

Re: What do I owe my children?

You could offer to suspend the payment requirement indefinitely in exchange for a true-up upon inheritance. I realize the first child doesn't need the true-up but it seems likely that neither couple will need any of the inheritance when the time comes anyway. Solves the problem of treating each chi...
by jmg229
Wed Aug 07, 2013 1:25 am
 
Forum: Personal Finance (Not Investing)
Topic: What do I owe my children?
Replies: 119
Views: 9324

Re: Where to Begin?

How do I set aside enough money? This is the big question. You have a limited amount of money coming in and a series of goals and bills that need to be paid. What you need is a budget. Take your take home monthly pay, and subtract from it absolute needs (rent, utilities, groceries, gas, etc.), be r...
by jmg229
Wed Aug 07, 2013 1:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Where to Begin?
Replies: 27
Views: 1944
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