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Re: Can I buy insurance against bank failure?

Access Multi-Million-Dollar FDIC Insurance CDARS® – the Certificate of Deposit Account Registry Service® – is the most convenient way to access FDIC insurance on multi-million-dollar CD deposits and to earn CD-level rates, which often compare favorably to Treasuries and money market mutual funds. M...
by plnelson
Thu Jul 24, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I buy insurance against bank failure?
Replies: 12
Views: 999

Can I buy insurance against bank failure?

OK, this is a weird question but here's the deal: I have lots of money in CD's and finding good CD deals is hard and I'm very particular about what I'm looking for. It would also simplify my life if I can deal with as few institutions as possible. The problem is that I'm forced to spread my CD holdi...
by plnelson
Thu Jul 24, 2014 10:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I buy insurance against bank failure?
Replies: 12
Views: 999

How do I find bump-up/raise-your-rate" IRA CDs?

I have a pile of retirement (tax-deferred) cash that I want to put into 2-5 year CD's ladder-wise. But because rates are low and may go up during that time I'd like to put them into CD's that have an option to raise your rate if rates go up. For example Ally Bank offer 2-year CD's where you can rais...
by plnelson
Thu Jul 24, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: How do I find bump-up/raise-your-rate" IRA CDs?
Replies: 0
Views: 156

Re: Choosing brokered CD's- what should I look at?

By contrast, a brokered CD is like a bond in terms of interest-rate risk, and large bid/ask spreads make it worse (compared to treasuries). The value of your CD could drop by much more than 1% if rates rise much in the near future I've never bought a CD through a broker before so this could be an i...
by plnelson
Fri Jul 11, 2014 2:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Choosing brokered CD's- what should I look at?
Replies: 17
Views: 1674

Re: Choosing brokered CD's- what should I look at?

I am sure that you are aware that expectations are already built into current rates, so that timing your purchase is just as likely to backfire. I'm talking about the second-derivative. I'm aware the current rates reflect current expectations. I'm expecting that it's the expectations that will go u...
by plnelson
Fri Jul 11, 2014 1:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Choosing brokered CD's- what should I look at?
Replies: 17
Views: 1674

Re: Choosing brokered CD's- what should I look at?

You don't liquidate assets to convert to Roth. Perhaps what you mean is that you want to be sure the CD is divisible for conversion purposes. I believe that is the case for brokered CDs. I wasn't going to buy one CD. There's about $200K in this pile of cash, so I thought I would maybe buy five $40K...
by plnelson
Fri Jul 11, 2014 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Choosing brokered CD's- what should I look at?
Replies: 17
Views: 1674

Re: Choosing brokered CD's- what should I look at?

I have a bunch of five year CDs at credit unions. . . . Thanks, but my PS was just background information. My QUESTION is on what basis should I select between different brokered CD's? Since they're all FDIC insured the main differentiator seems to be interest rate for a given term. Also, if it hel...
by plnelson
Thu Jul 10, 2014 8:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Choosing brokered CD's- what should I look at?
Replies: 17
Views: 1674

Choosing brokered CD's- what should I look at?

As a consequence of inheriting some of my late wife's IRA's I find myself with a couple hundred thousand dollars in my Fidelity IRA brokerage account - in cash, specifically their money market fund, which essentially pays no interest. This money has a short time horizon - I expect to retire next yea...
by plnelson
Thu Jul 10, 2014 7:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Choosing brokered CD's- what should I look at?
Replies: 17
Views: 1674

Re: Found an old deposit receipt for my late wife . . .

Second, even though you did not move and were not difficult to locate, a notice might have been missed - and the funds were "escheated" to the state (state law applies in matters of "escheatment" or "abandoned property", even for a federal credit union). Since, as I un...
by plnelson
Tue Jun 24, 2014 12:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Found an old deposit receipt for my late wife . . .
Replies: 27
Views: 3824

Re: Found an old deposit receipt for my late wife . . .

State law usually says if they cannot touch base with an account holder for X years, then the money escheats to the state. States now maintain web sites to look up money that they have from these places. Did you check those web sites? Google "unclaimed property" and you will get links. I ...
by plnelson
Mon Jun 23, 2014 11:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Found an old deposit receipt for my late wife . . .
Replies: 27
Views: 3824

Re: Found an old deposit receipt for my late wife . . .

Her Social Security number be a better search term at those businesses, but if she was a careful person, she would have transferred the accounts. If she was no longer receiving annual statements, I doubt that the accounts are still open. When money is involved most people do submit a forwarding add...
by plnelson
Mon Jun 23, 2014 10:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Found an old deposit receipt for my late wife . . .
Replies: 27
Views: 3824

Found an old deposit receipt for my late wife . . .

My wife passed away two years ago and I'm the executor and sole beneficiary of her will, and as I was going through some of her papers I found an old form 2315 for the Hewlett Packard Family Federal Credit Union for an IRA contribution in the amount of $2000. It's dated April 14, 1992 and says that ...
by plnelson
Mon Jun 23, 2014 10:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Found an old deposit receipt for my late wife . . .
Replies: 27
Views: 3824

Re: Solo Roth 401(k) + Keogh

Use an individual 401(k). I can't quite parse this. Fidelity calls their product a Keogh, Vanguard calls theirs a "Solo" 401(k), so I'm not sure which one you mean by "individual". Vanguard's has a Roth option Fidelity doesn't. Total for you is $52K, including up to $17.5K in Ro...
by plnelson
Mon May 26, 2014 11:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

OK, I think I understand better. You want to: 1) contribute max to retirement accounts 2) shift money into Roth accounts 3) get the most tax deductions while balancing the desire to shift money into Roth. Correct. Keep in mind that money can be put into Roth via contributions or conversions. IMO, t...
by plnelson
Mon May 26, 2014 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

It sounds like my big mistake was to go with Fidelity in the first place, since they don't have a Roth: let this be an object lesson for other Bogleheads. No, Roth 401k is not a good option for you if you are unwilling to give up the tax deduction. If you contribute 23K to Roth 401k, you're giving ...
by plnelson
Sat May 24, 2014 1:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

pnelson, if you have to wait a couple of years to transfer your Fidelity SE 401k to Vanguard I401k, you can approximate a Roth 401k contribution in your Fidelity plan if you have IRA assets say in a Rollover IRA or other pre-tax account: 1) Contribute 23K Traditional employee salary deferral to Fid...
by plnelson
Sat May 24, 2014 12:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

The two year rule is for an ongoing plan. You can't distribute employer contributed funds or roll them over until those dollars have been in the plan for 2 years, assuming a plan even allows for this. But there's no problem with the current situation. It sounds like you want to 'restate' the Fideli...
by plnelson
Fri May 23, 2014 11:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

pnelson, if you have to wait a couple of years to transfer your Fidelity SE 401k to Vanguard I401k, you can approximate a Roth 401k contribution in your Fidelity plan if you have IRA assets say in a Rollover IRA or other pre-tax account: 1) Contribute 23K Traditional employee salary deferral to Fid...
by plnelson
Fri May 23, 2014 11:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Multiple Plans are fine under the Code & Regs,

Note that even if a plan is as liberal as the distribution rules allow, rollovers out of the new plan can't be done sooner than 2 years for the employer funds and age 59 1/2 for the employee contributed funds. Yikes!! So how does that work in practice?! Vanguard told me I could transfer my Fidelity...
by plnelson
Fri May 23, 2014 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

I believe the employee was correct. Any employer including the self-employed can only have one 401k plan at a time. You are probably confusing the fact that an employee can participate in more than one plan with the employee deferral limit shared amongst the plans. . Yes, this is also what Vanguard...
by plnelson
Fri May 23, 2014 8:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Re: Solo Roth 401(k) + Keogh

My Fidelity Self Employed 401k is called a Profit Sharing Keogh when I logon to fidelity's web site. I don't think you can use two 401k plans (1 at Fidelity and another at Vanguard) simultaneously. I think you would need to keep what you have or switch to a different plan all together. I don't know...
by plnelson
Mon May 19, 2014 1:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Solo Roth 401(k) + Keogh

I'm self-employed as a software engineer. I currently have a profit-sharing Keogh with Fidelity and in the last tax year I contributed the maximum I was allowed including the "catch-up" + additional profit sharing money for a total of $30k. This year I'd like to open up a Roth 401(k). Fide...
by plnelson
Sun May 18, 2014 11:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo Roth 401(k) + Keogh
Replies: 26
Views: 1273

Employer profit sharing rules on a Keough?

I'm a self-employed software contractor and last year I set up a profit sharing Keough with Fidelity at the beginning of 2013. I'm 61 so I'm eligible for the "catch up" provision for my own contributions $17.5K + $5.5K = $23K, so I did that. But I'm unclear on the profit sharing contributi...
by plnelson
Wed Apr 09, 2014 7:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer profit sharing rules on a Keough?
Replies: 1
Views: 151

Re: We're not in an Equity Bubble

Is anyone positive about state of the U.S. economy and economic growth? Everyone seems to be forecasting low real GDP growth, like 2% p.a. I am an outlier and extremely positive about the U.S. economy over the next decade and have been for a couple years. The strength the economy has shown so far c...
by plnelson
Wed Nov 20, 2013 10:12 pm
 
Forum: Investing - Theory, News & General
Topic: We're not in an Equity Bubble
Replies: 61
Views: 6818

Re: who here is tempted to pullback on stocks?

I know that bogleheads do not time the market. This thread isn't for you, or the "stay the course" comments. I know that, i get that, and I live that. My question is simply - if you are tempted to take profits and shift some to cash, are you going to do it or are you going to resist? I am...
by plnelson
Wed Nov 20, 2013 9:58 pm
 
Forum: Investing - Theory, News & General
Topic: who here is tempted to pullback on stocks?
Replies: 104
Views: 8245

Re: Screening Questions . . . [What companies sell this info

This thread is now in the Personal Consumer Issues forum (personal info). I retitled the thread. The other question: Screening Questions . . . [Who compiles this information?] Maybe it's because you moved what was obviously an investment-related thread ( " Are there any "pure plays" ...
by plnelson
Wed Nov 20, 2013 9:55 pm
 
Forum: Personal Consumer Issues
Topic: Screening Questions . . . [What companies sell this info?]
Replies: 3
Views: 311

Screening Questions . . . [What companies sell this info?]

Moderator N.B. - I have a related question on another thread but it is A DIFFERENT QUESTION as you can see if you read to the end . . . Yesterday I called up GE Capital Bank to buy some CD's. I've never done any business with them before so after getting the basics like address and SS number they as...
by plnelson
Wed Nov 13, 2013 8:17 pm
 
Forum: Personal Consumer Issues
Topic: Screening Questions . . . [What companies sell this info?]
Replies: 3
Views: 311

Screening Questions . . . [Who compiles this information?]

Moderator N.B. - I have a related question on another thread but it is A DIFFERENT QUESTION as you can see if you read to the end . . . Yesterday I called up GE Capital Bank to buy some CD's. I've never done any business with them before so after getting the basics like address and SS number they as...
by plnelson
Wed Nov 13, 2013 8:11 pm
 
Forum: Personal Consumer Issues
Topic: Screening Questions . . . [Who compiles this information?]
Replies: 4
Views: 510

Re: What does this event from Fidelity mean?

tludwig23 wrote:In this case, FTC refers to Fitch, a credit rating agency (like Moody's or S&P).



Good. That makes more sense. Very sensible of Fitch, I wonder what the other ratings agencies are waiting for?

Thanks!
by plnelson
Wed Oct 16, 2013 12:56 am
 
Forum: Investing - Help with Personal Investments
Topic: What does this event from Fidelity mean?
Replies: 2
Views: 715

What does this event from Fidelity mean?

Through a Fidelity brokerage account I have a wide variety of bond holdings and I regularly receive events and notifications about them - usually announcements about impending maturity and that sort of thing. N.B. I'm talking about actual individual securities, not bond funds . Among my holdings are...
by plnelson
Wed Oct 16, 2013 12:24 am
 
Forum: Investing - Help with Personal Investments
Topic: What does this event from Fidelity mean?
Replies: 2
Views: 715

Re: If ratings are puffery then how to rate bonds?

Would this be an issue with an index fund? Maybe better just to stick with Treasuries. Index funds, like all bond funds, have interest rate risk, and I used to just buy Treasuries until they lost their AAA rating. :D But I want to stick to my question which is still this - here we have Standard and...
by plnelson
Mon Jul 08, 2013 8:55 pm
 
Forum: Investing - Theory, News & General
Topic: If ratings are puffery then how to rate bonds?
Replies: 13
Views: 983

Re: Credit Cards vs Debit Cards

frugaltype wrote:
Fclevz wrote:I use cash so it's harder for the NSA to track me* ;)

Cheers,
Fred


I'm no longer using return address labels on postal mail :-)


I no longer back up my computer data - if I have a hard drive crash I just file a FOIA and get it from the NSA. :mrgreen:
by plnelson
Mon Jul 08, 2013 8:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Cards vs Debit Cards
Replies: 54
Views: 3376

Re: Credit Cards vs Debit Cards

ER2023 wrote:I'm surprised at how much cash back some of you are getting - sounds almost too good to be true - but I'm sure the companies are still profiting from those not paying balance every month.


They're profiting from the merchant fees, regardless of whether cardhodlers pay off in full every month.
by plnelson
Mon Jul 08, 2013 8:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Cards vs Debit Cards
Replies: 54
Views: 3376

Re: Credit Cards vs Debit Cards

Only have one credit card and opened it over 25 years ago through employer. I hardly ever use it unless I really need to (traveling for example) - but mostly use debit card. I'm now thinking about looking at what other options are out there - where you receive cash back, points on things, etc., and...
by plnelson
Mon Jul 08, 2013 8:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Cards vs Debit Cards
Replies: 54
Views: 3376

If ratings are puffery then how to rate bonds?

Note to moderator: I'm not trying to start a topic on news or politics - this is a question about the best way to assess bond risk. I buy individual bonds structured into a bond and CD ladder mainly as a sort of a very long-term rainy day fund. I hold them to maturity so there's no interest-rate ri...
by plnelson
Mon Jul 08, 2013 7:48 pm
 
Forum: Investing - Theory, News & General
Topic: If ratings are puffery then how to rate bonds?
Replies: 13
Views: 983

Re: Why/how such big disparities in CD rates?

Why wait in the bank lobby? Spend a few minutes downloading a transfer form from a credit union website and a stamp mailing it in. Write, Hi, NSA next to the stamp. As a side note, you wouldn't believe the carrying on I see when I suggest credit unions to some people. They seem to think they're bei...
by plnelson
Mon Jul 08, 2013 12:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Why/how such big disparities in CD rates?
Replies: 20
Views: 2224

Why/how such big disparities in CD rates?

I have a lot of accounts with Bank of America - a business account, a trust account, a bunch of saving and checking accounts, and a bunch of CD's I took out years ago when rates were higher. One of the CD's is coming due now and I was looking of BofA's rates and I noticed that they're dramatically l...
by plnelson
Sun Jul 07, 2013 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why/how such big disparities in CD rates?
Replies: 20
Views: 2224

Re: TIPS question

You got it. TIPS are good at capturing unexpected inflation. Expected inflation ... no big deal. And what about deflation? So what does the research say about how accurate the "expected" inflation estimates have been? Only months ago 10 year Treasuries were 1.7%; now they're 2.7% (and les...
by plnelson
Fri Jul 05, 2013 9:16 pm
 
Forum: Investing - Theory, News & General
Topic: TIPS question
Replies: 12
Views: 1315

Re: Installing lightning rods - who, how much?

Any decent electrical shop could put together a lightening rod package for your home. Or if you are handy you could do it yourself and save some money. I want it NFPA 780 -compliant - there's too much riding on getting it right. (not to mention a discount on my HO insurance) Keep in mind the number...
by plnelson
Tue Jun 18, 2013 10:04 pm
 
Forum: Personal Consumer Issues
Topic: Installing lightning rods - who, how much?
Replies: 19
Views: 1277

Re: Installing lightning rods - who, how much?

user5027 wrote:Try google. lightning rods massachusetts


I did. The only places I could find were very far away. That's why I wanted to know if only dedicated lightning rod installers did this sort of work.
by plnelson
Tue Jun 18, 2013 9:44 pm
 
Forum: Personal Consumer Issues
Topic: Installing lightning rods - who, how much?
Replies: 19
Views: 1277

Installing lightning rods - who, how much?

Recently a house in the town next to mine suffered severe damage from a fire resulting from a lightning strike. I've always worried about this because my house is on the very top of the 2nd highest hill in my town in Massachusetts. So I've looked in the yellow pages and I can't find anything about i...
by plnelson
Tue Jun 18, 2013 9:09 pm
 
Forum: Personal Consumer Issues
Topic: Installing lightning rods - who, how much?
Replies: 19
Views: 1277

Re: Guaranteed to Need Repair in 3-5 Years

I think the salesman was just trying to sell you on an extended warranty. Any company with that sort of planned obsolescence would quickly develop a bad rep for quality and would be crushed in the marketplace. My (EnergyStar-rated) Kenmore refrigerator was bought in 1998 and has never needed any ser...
by plnelson
Tue Jun 18, 2013 5:48 pm
 
Forum: Personal Consumer Issues
Topic: Guaranteed to Need Repair in 3-5 Years
Replies: 31
Views: 3037

Re:

They are more fun. They are more comfortable. They demonstrate how much money one can spend. (Google up "costly signal.") I really don't think fun or status have much to do with it for sensible people, but there are still sensible reasons to buy the higher trim levels or more expensive mo...
by plnelson
Mon Jun 17, 2013 9:53 pm
 
Forum: Personal Consumer Issues
Topic: Why buy expensive cars
Replies: 271
Views: 26069

Re: Buying New Glasses; Looking for Suggestions on What to B

I'm in the same situation as you. I was using Varilux Panamic, which had better peripheral vision than other designs I tried (Essilor and Varilux are divisions of the same company) but my prescription has changed and Varilux has discontinued the Panamic line. I tried their Physio Enhanced but it was...
by plnelson
Mon Jun 17, 2013 9:34 pm
 
Forum: Personal Consumer Issues
Topic: Buying New Glasses; Looking for Suggestions on What to Buy
Replies: 20
Views: 3834

Re: Basis of homeowner's insurance cost?

But to get back to my original question, are you (all) saying that insurance pricing is less "rational" than other businesses? That is, in most businesses comparable things cost comparable amounts of money, simply because any really big disparities would be wiped out by the market - consum...
by plnelson
Tue Jun 04, 2013 9:46 pm
 
Forum: Personal Consumer Issues
Topic: Basis of homeowner's insurance cost?
Replies: 8
Views: 753

Re: Getting rid of rats while keeping a birdfeeder

"Secondary poisoning" is when an animal eats a rat that has been poisoned. When a dog or cat that weights at least a couple of pounds eats a dead rat that weighs a couple of ounces, the will usually not get a large enough dose of the rat poison to cause major problems because they will ha...
by plnelson
Mon Jun 03, 2013 9:28 pm
 
Forum: Personal Consumer Issues
Topic: Getting rid of rats while keeping a birdfeeder
Replies: 31
Views: 2386

Re: Getting rid of rats while keeping a birdfeeder

DO NOT use poison. The poisoned rat maybe eaten by hawks, eagles and other wild life. May be spray some sort of predator's urine to deter the rat? While I agree that poison risks other predators, "predator urine" is a fraud. That stuff is sold at every Walmart, Agway and garden supply sto...
by plnelson
Mon Jun 03, 2013 9:16 pm
 
Forum: Personal Consumer Issues
Topic: Getting rid of rats while keeping a birdfeeder
Replies: 31
Views: 2386

Re: Does anyone own a Hyundai?

Most of Hyundai's facilities are within artillery or surface-to-surface missile range of their crazy neighbors to the north. Since I buy cars for a minimum of 10 years that would make me nervous regarding spare parts and general support and market value for Korean cars.
by plnelson
Mon Jun 03, 2013 9:05 pm
 
Forum: Personal Consumer Issues
Topic: Does anyone own a Hyundai?
Replies: 71
Views: 6598

Re: Returning used items to the store [POLL]

The question is poorly worded. It's not clear whether by "used" you mean "used satisfactorily". I've certainly returned products that I've used and found to be defective, unsatisfactory, not fit for purpose, not living up the the advertising, etc. When I do that I give them quite...
by plnelson
Mon Jun 03, 2013 9:01 pm
 
Forum: Personal Consumer Issues
Topic: Returning used items to the store [POLL]
Replies: 50
Views: 2620

Basis of homeowner's insurance cost?

My homeowner's insurance company, Bunker Hill Insurance, has been relentlessly raising my premiums for years. Between 2008 and now they've gone from about $1300/yr to $2300/yr. There's been no change in coverage; I don't live in a flood zone, inflation during that period has been low and house price...
by plnelson
Mon Jun 03, 2013 8:52 pm
 
Forum: Personal Consumer Issues
Topic: Basis of homeowner's insurance cost?
Replies: 8
Views: 753
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