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Re: Changing Passwords with 2factor authentication

Also do all of you think that the new 2-factor authentication substantially reduces our vulnerability to hackers? Besides keeping one's computer secure (updated software, anti spy ware, and secrecy of passwords)) are there any other measures to take to prevent hacking :?: Yes, I think the 2 factor ...
by mptfan
Fri Feb 27, 2015 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Changing Passwords with 2factor authentication
Replies: 16
Views: 1993

Re: Does my work vehicle allowance count as taxable income?

didn't expect zero replies! I think the reason you got little or no response initially is that the answer to your question is easily found with a quick google search. Take a look at the links provided in the response from Toons. There is a fine line on this forum between asking questions that requi...
by mptfan
Mon Feb 23, 2015 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Does my work vehicle allowance count as taxable income?
Replies: 8
Views: 626

Re: Social Security statements

After I started receiving spousal benefits and could no longer get an estimate from SS, I used my spreadsheet to estimate my future benefits over the past four years. I did start from the year when I turned 60, and the breakpoints for that year. I filed for Social Security on line the week before l...
by mptfan
Sun Feb 22, 2015 7:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Does early retirement affect SS benefits?

Thanks for the heads up on the calculators. i used the online detailed calculator. It calculated "your monthly benefit" and gave a figure (which was a lot lower than if she was going to continue working). It doesn't say if this is early retirement or FRA or age 70 amount. Should I assume ...
by mptfan
Sun Feb 22, 2015 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Does early retirement affect SS benefits?
Replies: 16
Views: 2287

Re: Social Security statements

Ok, so you turned 62 in 2010, that means you turned 60 in 2008 and that is your base year for indexing purposes. Your earnings for 2008 (the year in which you turn 60), and all later years, are NOT indexed, they are taken at face value with no indexing adjustments. However, your earnings for 2007 (t...
by mptfan
Sun Feb 22, 2015 9:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Social Security statements

mptfan wrote: .... he must used the wage index value in 2008 (the year in which he turned 60) as his base value for indexing purposes I turned 60 in 2010. You are using 2008. Is that because one goes back 2 years? However, the example used 3 years, so that would be 2007. Is that correct? Almost the...
by mptfan
Sun Feb 22, 2015 9:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Social Security statements

DonCamillo, The example that you provided in response to the question by Almost there is not correct. Almost there said that she turned 62 in 2010, therefore, for indexing purposes, she must used the wage index value in 2008 (the year in which she turned 60) as her base value for indexing purposes. ...
by mptfan
Sun Feb 22, 2015 9:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Social Security statements

You seem to believe there is an accurate, non-political, real measure of what you define as "inflation" such as CPI-U. I don't agree. The SSA uses CPI-W. There is no dispute that the CPI-U is a more accurate measure of inflation than the CPI-W. The reason why SSA uses the CPI-W is politic...
by mptfan
Sun Feb 22, 2015 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Social Security statements

You are strictly correct, and I have the technical background to appreciate that. But the average person only has a general knowledge that prices keep rising, and the popular understanding of that is "inflation." Anything that goes up as money is devalued is a "proxy" for inflat...
by mptfan
Sat Feb 21, 2015 3:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Social Security statements

I was able to get the index factors for my birth year from an illustration on the SS Web site during the year I first reached eligibility for SS, and copied the factors, along with my reported SS earnings, into a spreadsheet. I could not find that information in my latest search, You can create the...
by mptfan
Sat Feb 21, 2015 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: Social Security statements

Earlier wages are increased to account for inflation (actually average wages, but it is a proxy for inflation). Not true. Your earnings before age 60 are increased to account for the changes in national average wages each year, not inflation, and is indexed to the national average wage index, which...
by mptfan
Sat Feb 21, 2015 12:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security statements
Replies: 52
Views: 3066

Re: POD accounts only so how to pay deceased expenses?

There is a widespread misapprehension that non-probate transfers are simply not subject to creditor claims. While subject to state law, most states allow for reclaiming non-probate transfers to satisfy creditor claims. The method may differ by state. In some states, the executor/personal representa...
by mptfan
Sat Feb 21, 2015 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: POD accounts only so how to pay deceased expenses?
Replies: 24
Views: 1792

Re: Social Security COLAs

In trying to keep it simple... The social security benefit formula is not simple. ;) The annual increase in the AWI (wage inflation) is generally higher than the annual increase in the CPI (price inflation). So by using the AWI to index earnings, instead of the CPI, the result is lower indexed annu...
by mptfan
Fri Feb 20, 2015 2:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security COLAs
Replies: 13
Views: 564

Re: Social Security COLAs

CORRECTION: mptfan is right. The adjusting factor is AWI not CPI. Wonder how closely the two track? Since you asked.... over the 10 years ending in 2013, the CPI-U averaged 2.3% per year and the NAWI averaged 2.8% increase each year. (Note that SS used the CPI-W, not the CPI-U to determine the annu...
by mptfan
Fri Feb 20, 2015 2:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security COLAs
Replies: 13
Views: 564

Re: Social Security COLAs

Prior to age 62, only your earnings history matters. Just to be clear a CPI adjustment is factored into your prior earnings so inflation, to the extent it's correctly measured by CPI, is not a risk. This is not true. Your prior earnings are adjusted based on changes in the national average wage ind...
by mptfan
Fri Feb 20, 2015 2:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security COLAs
Replies: 13
Views: 564

Re: Social Security COLAs

There isn't any way you can miss out on the cola. The reference quantity SSA applies the annual cola to is your PIA (primary insurance amount), aka full retirement age benefit amount. The cola gets applied to recalculate everyone's PIA every year whether or not they have claimed SS benefits. I don'...
by mptfan
Fri Feb 20, 2015 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security COLAs
Replies: 13
Views: 564

Re: Social Security COLAs

The estimates in your social security statement are based on today's dollars. If the cost of living as measured by social security goes up, those estimates will go up. You can see this if you have statements from previous years. This is what my estimates show for the amount of money I will receive ...
by mptfan
Fri Feb 20, 2015 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security COLAs
Replies: 13
Views: 564

Re: Social Security COLAs

I am not a social security expert, but my understanding is that the SS COLA applies to your benefits starting in the year that you turn 62, whether you apply for benefits at 62 or not. Thus, the COLA is meant to adjust your benefits to generally keep up with inflation (as defined by the CPI-W), and ...
by mptfan
Fri Feb 20, 2015 1:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security COLAs
Replies: 13
Views: 564

Re: Help me find my friend !

What has this got to do with personal finance or investing?
by mptfan
Thu Feb 19, 2015 5:38 pm
 
Forum: Personal Consumer Issues
Topic: Help me find my friend !
Replies: 31
Views: 3205

Re: Where should an HSA fit into investment priority?

My reasoning: Sure it's great to have an amazing tax advantage account such as the HSA, but you can only use those funds on Health related purchases without penalties. Not true. When you turn 65, you can use HSA funds for anything without penalty, and the withdrawals are treated the same as traditi...
by mptfan
Thu Feb 19, 2015 5:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where should an HSA fit into investment priority?
Replies: 39
Views: 2252

Re: Where should an HSA fit into investment priority?

The general rule of thumb for investing priority is: 1. 401k/403b up to the company match 2. Max out Roth 3. Max out 401k/403b 4. Taxable Investing I disagree that this is "the general rule of thumb for investment priority." According to the Boglehead's Guide to Retirement Planning, Chapt...
by mptfan
Thu Feb 19, 2015 5:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where should an HSA fit into investment priority?
Replies: 39
Views: 2252

Re: 20% of portfolio in High Yield Bonds?

However credit risk is a cousin of equity risk, and whether or not the degree of fundamental difference gives a practical benefit to having a junk bond allocation is a fair question. And there might be a tendency of naive investors to ramp up risk via junk bonds, keeping the same equity allocation ...
by mptfan
Thu Feb 19, 2015 2:05 pm
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: 20% of portfolio in High Yield Bonds?

I do however think that HY bonds make little to no sense for someone very young, with a 40+ year horizon. So I guess, as always, it depends. In my opinion, it is inconsistent to say that investment grade corporate bonds are appropriate for someone very young, but high yield bonds are not. Why? I to...
by mptfan
Thu Feb 19, 2015 1:50 pm
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: 20% of portfolio in High Yield Bonds?

nobsinvestor wrote:I do however think that HY bonds make little to no sense for someone very young, with a 40+ year horizon. So I guess, as always, it depends.

In my opinion, it is inconsistent to say that investment grade corporate bonds are appropriate for someone very young, but high yield bonds are not.
by mptfan
Thu Feb 19, 2015 1:20 pm
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: 20% of portfolio in High Yield Bonds?

Rick Ferri things credit is a separate risk-return factor, which you capture with junk bonds, but not with Investment Grade (much) or US Treasuries (none). I agree with Mr. Ferri on this point. Also, high yield bonds are sufficiently uncorrelated to both investment grade corporate bonds and stocks ...
by mptfan
Thu Feb 19, 2015 12:12 pm
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: 20% of portfolio in High Yield Bonds?

I'm not sure I agree about using more HY in the withdrawal phase. Share prices for HY usually fluctuate much more than traditional bonds, and there's a benefit to reinvesting (and definitely not withdrawing principal) during the sometimes-severe downturns. I am retired, and have 4% or so in VWEHX b...
by mptfan
Thu Feb 19, 2015 11:36 am
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: 20% of portfolio in High Yield Bonds?

I'm not sure I agree about using more HY in the withdrawal phase. Share prices for HY usually fluctuate much more than traditional bonds, and there's a benefit to reinvesting (and definitely not withdrawing principal) during the sometimes-severe downturns. I am retired, and have 4% or so in VWEHX b...
by mptfan
Thu Feb 19, 2015 10:33 am
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: 20% of portfolio in High Yield Bonds?

I seem to have come across some older threads where experts like Rick Ferri said they held as much as 20% of their portfolio in US HY Corporate bonds- what are the Bogleheads' thoughts today on that? Does anyone actually hold that much? I like High Yield Bonds. I am in the accumulation phase, and I...
by mptfan
Wed Feb 18, 2015 10:15 pm
 
Forum: Investing - Theory, News & General
Topic: 20% of portfolio in High Yield Bonds?
Replies: 32
Views: 1851

Re: Why has the International bond outperformed total bond?

The primary difference over the last year was the capital return. In 2014, the total bond fund had a capital return of 3.21% while the international bond fund was 7.17%. This means that the NAV of the international bond fund increased more than the NAV of the total bond fund over the course of 2014....
by mptfan
Wed Feb 18, 2015 4:43 pm
 
Forum: Investing - Theory, News & General
Topic: Why has the International bond outperformed total bond?
Replies: 2
Views: 290

Re: The Non-Millionaire Next Door

The favorite commercial that continues to epitomize my neighbors over the last few decades is this: https://www.youtube.com/watch?v=r0HX4a5P8eE I love that commercial! But the ironic thing is it is a commercial for Lending Tree! They want to lend him more money! Let's make fun of a guy who is in de...
by mptfan
Tue Feb 17, 2015 8:23 am
 
Forum: Investing - Theory, News & General
Topic: The Non-Millionaire Next Door
Replies: 43
Views: 6213

Re: Loan Terms -- Helping a friend going through Divorce?

I suggest you think very long and very hard about doing this in the first place... Not really helpful, I really do know the risks, not interested in hearing about them again. I think that is the most helpful response you could get...the fact that you don't want to hear it is another matter. When yo...
by mptfan
Sun Feb 01, 2015 9:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Loan Terms -- Helping a friend going through Divorce?
Replies: 32
Views: 2168

Re: Accidentally forgot a credit card for three months HELP!

The correct way to handle is to call the credit card company, explaining why the derogatory report on the credit report is an error, and having it removed. There was no error, the credit card company accurately reported that the bill was delinquent after sending the bill, presumably a number of tim...
by mptfan
Sat Jan 31, 2015 1:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Accidentally forgot a credit card for three months HELP!
Replies: 40
Views: 3973

Re: Accidentally forgot a credit card for three months HELP!

It might have been easier if you had NOT paid your bill off right a way. You could call the credit card company and negotiate a payoff and a deletion of the derogatory mark. They might not do it if it is paid off already. You might get lucky by speaking to an upper manager there. This does NOT soun...
by mptfan
Fri Jan 30, 2015 11:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Accidentally forgot a credit card for three months HELP!
Replies: 40
Views: 3973

Re: Accidentally forgot a credit card for three months HELP!

I don't think there is anything you can do about your credit report other than let time pass. With each passing month, the delinquency will count less and less against your score until eventually it will have very little impact, and eventually after seven years, it will disappear completely. By the ...
by mptfan
Fri Jan 30, 2015 10:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Accidentally forgot a credit card for three months HELP!
Replies: 40
Views: 3973

Re: Where do you think the stock market heading this year?

I think the stock market is going to fluctuate this year.
by mptfan
Sun Jan 25, 2015 1:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Where do you think the stock market heading this year?
Replies: 20
Views: 1583

Re: Why are people buying 10 year Bunds?

What is a Bund? lol
by mptfan
Thu Jan 22, 2015 4:25 pm
 
Forum: Investing - Theory, News & General
Topic: Why are people buying 10 year Bunds?
Replies: 14
Views: 1425

Re: Debt payoff or retirement savings?

Contribute to the IRA. Once the deadline passes for contributing to the IRA for 2014, you can never get it back.
by mptfan
Thu Jan 22, 2015 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Debt payoff or retirement savings?
Replies: 8
Views: 664

Re: Closing unused credit cards - should I do it?

Close em. Stop worrying about what FICO does and do what is right for you. If you use credit wisely and pay your bills on time, you do not have to worry about your credit score, it will take care of itself. I like to call your credit score a "debt score" because you only need it if you are...
by mptfan
Wed Jan 21, 2015 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Closing unused credit cards - should I do it?
Replies: 16
Views: 1311

Re: When your spouse isn't quite as frugal as you

Given the high number of conservative investors on this site I'm surprised more of them aren't frugal (at least what I consider frugal, which admittedly may be more strict than what others think). You are missing the point. Those who suggest letting it go are not saying that because they are not fr...
by mptfan
Sat Jan 17, 2015 7:49 am
 
Forum: Personal Finance (Not Investing)
Topic: When your spouse isn't quite as frugal as you
Replies: 94
Views: 8778

Re: Eliminating the "Face Palm" Icon

We should also get rid of the :sharebeer smiley since every time I see it I get an irresistible urge to go get a beer.... uh oh, there it goes again.... :beer
by mptfan
Fri Jan 16, 2015 5:42 pm
 
Forum: Forum Issues and Administration
Topic: Eliminating the "Face Palm" Icon
Replies: 33
Views: 2302

Re: When your spouse isn't quite as frugal as you

3FundFan wrote:Telling the OP to "get over it" probably won't work.

She asked.
by mptfan
Thu Jan 15, 2015 3:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: When your spouse isn't quite as frugal as you
Replies: 94
Views: 8778

Re: Help with starting a retirement account for my fiance?

ny_rn wrote:
Twins Fan wrote:I actually think it would be better for you not to contribute to her IRA at all. I know you plan to get married and all, but things happen. Or, at least wait until it's official...


I agree with this.

+1
by mptfan
Thu Jan 15, 2015 1:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with starting a retirement account for my fiance?
Replies: 13
Views: 1016

Re: When your spouse isn't quite as frugal as you

Since you asked, I think you are being unreasonable and you just need to roll with it. Based on what you said, he has come a long way and made many positive financial changes, and you are in a position to save 2 to 3 thousand per month! That is great! You really should let the small stuff go and pic...
by mptfan
Wed Jan 14, 2015 11:53 am
 
Forum: Personal Finance (Not Investing)
Topic: When your spouse isn't quite as frugal as you
Replies: 94
Views: 8778

Re: Edward Jones Fees

From what I have read, EJ also charges fees to close the account.
by mptfan
Tue Jan 13, 2015 2:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Edward Jones Fees
Replies: 24
Views: 2138

Re: Poll - How much is enough / what's your number?

If my number is $2 million, which option should I select? I'll go ahead and assume you'll earn $0.01 of interest on that money the next morning, so you can choose $2M - $5M I don't think that the poll results are meaningful because a person who wants to respond with $2M does not know whether to sel...
by mptfan
Mon Jan 12, 2015 3:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll - How much is enough / what's your number?
Replies: 79
Views: 7799

Re: Poll - How much is enough / what's your number?

If my number is $2 million, which option should I select?
by mptfan
Mon Jan 12, 2015 2:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll - How much is enough / what's your number?
Replies: 79
Views: 7799

Re: Need help informing my father he is making a mistake

The first question is, did your father ask for your advice? If the answer is no, then stop. Do not do anything. It is not your money or your business. If he did ask for your advice, then give it and let him make his decision. It's not more complicated than that. +1 investor I'm not sure that I agre...
by mptfan
Mon Jan 12, 2015 1:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help informing my father he is making a mistake
Replies: 58
Views: 4949

Re: Need help informing my father he is making a mistake

clayr361 wrote:I hadn't really thought about just not doing or saying anything about the situation.

You should.
by mptfan
Mon Jan 12, 2015 12:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help informing my father he is making a mistake
Replies: 58
Views: 4949

Re: Need help informing my father he is making a mistake

The first question is, did your father ask for your advice? If the answer is no, then stop. Do not do anything. It is not your money or your business. If he did ask for your advice, then give it and let him make his decision. It's not more complicated than that.
by mptfan
Mon Jan 12, 2015 11:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Need help informing my father he is making a mistake
Replies: 58
Views: 4949

Re: Wait, contributions to an IRA are tax deductible?

So, if I put $5,500 into a Roth IRA, I can then deduct the same $5,500 form my taxes and get all of that back in the form of a refund check? So, I would have that $5,500 in retirement and essentially get a free $5,500 refund check? No, you can't deduct Roth contributions. JW what about traditional ...
by mptfan
Sun Jan 11, 2015 8:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Wait, contributions to an IRA are tax deductible?
Replies: 19
Views: 2059
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