Search found 344 matches

by MikeG62
Fri Jun 23, 2017 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Health Coverage - COBRA & ACA
Replies: 16
Views: 655

Re: Health Coverage - COBRA & ACA

I left my employer in the middle of a month and my company sponsored health insurance continued to the end of the month. So you may want to check and see if that applies in your case as well. Aside from that, I agree that you can apply for Cobra after the fact (within the window). So if you get your...
by MikeG62
Fri Jun 23, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 1860
Views: 293476

Re: What's Your Credit Card Rewards Strategy?

...For the past couple hours I have been catching up with FlyerTalk. Right now, I am reading "United's Basic Economy - Discussion, Q&A, ... ..." http://www.flyertalk.com/forum/united-airlines-mileageplus/1802527-united-s-basic-economy-discussion-q.html . The FAQ is encouraging: Carry ...
by MikeG62
Thu Jun 22, 2017 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 1.25% 11 month with no EWP
Replies: 104
Views: 12339

Re: Ally Bank 1.25% 11 month with no EWP

VictoriaF wrote:...Remember to specify a beneficiary for a new CD.

Victoria


Good reminder. Thank you!
by MikeG62
Tue Jun 20, 2017 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Ally no penalty 11 month CD rate increased to 1.50% this morning
Replies: 50
Views: 5607

Re: Ally no penalty 11 month CD rate increased to 1.50% this morning

Crisium wrote:Respectfully, title does not say it all.

$25,000 minimum.


Fair enough, I'll edit initial post.
by MikeG62
Tue Jun 20, 2017 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Ally no penalty 11 month CD rate increased to 1.50% this morning
Replies: 50
Views: 5607

Ally no penalty 11 month CD rate increased to 1.50% this morning

Title says it all...

Edit - Applies to CD's with minimum opening balance of $25,000.
by MikeG62
Tue Jun 20, 2017 7:40 am
Forum: Investing - Help with Personal Investments
Topic: Ally Bank No penalty CD for parking cash, is there a catch?
Replies: 37
Views: 4430

Re: Ally Bank No penalty CD for parking cash, is there a catch?

Rate increased to 1.50% this morning on the no penalty CD!
by MikeG62
Fri Jun 16, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Do You Take Your Credit Card Receipts?
Replies: 79
Views: 4780

Re: Do You Take Your Credit Card Receipts?

I take them, and keep them for a couple days. My theory is that errors in tip entry are less likely to occur when you take the receipt. I do the same. The waiter might be more likely that I am reviewing every receipt. So I take restaurant receipts, but I don't actually keep them; I toss them in the...
by MikeG62
Thu Jun 08, 2017 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone have the Ally CashBack credit card?
Replies: 3
Views: 430

Re: Does anyone have the Ally CashBack credit card?

I have one for my daughter to use while in college. This is in addition to an Ally online checking account I have for her which she uses to access cash (through ATM withdrawals). I think there was a bonus ($150) when we signed up for the card last year. To answer your question, the CC does not appea...
by MikeG62
Mon Jun 05, 2017 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Ally vs Discover
Replies: 20
Views: 2845

Re: Ally vs Discover

I am in the process of consolidating online banks (savings accounts) as I have been deploying (investing) excess cash over the last year or so. Currently I have online savings accounts with Ally and Discover (and a few CD's with Barclays). I am now in a position to consolidate the online savings acc...
by MikeG62
Sun Jun 04, 2017 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Budgeting
Replies: 47
Views: 3110

Re: Budgeting

Excel. Reason being, I am very familiar with excel and building spreadsheets and excel allows me the flexibility to fully customize and design it for my needs. I built a multi-tabbed model, that includes an electronic checkbook register, a sheet where I summarize/categorize all of our CC spending, a...
by MikeG62
Sun Jun 04, 2017 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Any Reasons I shouldn't switch 529 plan
Replies: 7
Views: 607

Re: Any Reasons I shouldn't switch 529 plan

Hi, After doing research on this site, thanks, I have decided to transfer my daughter's 529 plan from Franklin Templeton Investments to Vanguard. I am a resident of New Jersey. I am pretty confident in this decision but does anyone have anything negative to add concerning the transfer? thanks for y...
by MikeG62
Thu Jun 01, 2017 12:45 pm
Forum: Investing - Help with Personal Investments
Topic: Is anyone here allocated 30/70 a la Rick Ferri's "new center of gravity?"
Replies: 35
Views: 5287

Re: Is anyone here allocated 30/70 a la Rick Ferri's "new center of gravity?"

@MikeG62 Thank you! Very interesting numbers! It doesn't surprise me that 40-60% equities is the sweet spot. That's actually the range I feel we "need" to be in based on logic but I am having a hard time with it emotionally and trying to worm my way into a lower % of equities. If I'm hone...
by MikeG62
Thu Jun 01, 2017 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Is anyone here allocated 30/70 a la Rick Ferri's "new center of gravity?"
Replies: 35
Views: 5287

Re: Is anyone here allocated 30/70 a la Rick Ferri's "new center of gravity?"

@MikeG62, Thank you for your comment. I can't find fault in it. ...My concern with too little equity exposure is given our modest but workable nest egg, a long retirement window, and unexpected, non-negotiable expenses (think medical, etc), our growth will not keep pace to maintain our already mode...
by MikeG62
Thu Jun 01, 2017 7:22 am
Forum: Investing - Theory, News & General
Topic: Single most important investing advice?
Replies: 97
Views: 11781

Re: Single most important investing advice?

In a recent (this week) podcast with the WSJ Jack Bogle said the following: Best financial advice he ever heard = Stay the course Worst financial advice he ever heard = I can pick a winning fund for you Money Can Buy = Security Money Can't Buy = Happiness If you won $1 million after tax what would y...
by MikeG62
Thu Jun 01, 2017 6:53 am
Forum: Investing - Help with Personal Investments
Topic: Is anyone here allocated 30/70 a la Rick Ferri's "new center of gravity?"
Replies: 35
Views: 5287

Re: Is anyone here allocated 30/70 a la Rick Ferri's "new center of gravity?"

Ages 54 and 52 and retired last year. No pension, so living off our assets (don't plan to take SS until we are 70). Target asset allocation 48%% equities, 48% bonds (muni's) and 4% cash. I consider our asset allocation to be conservative (generally speaking). However, I am comfortable with it becaus...
by MikeG62
Wed May 31, 2017 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 5776

Re: Senility and Seductresses: How do you plan on protecting your money when you lose your mental capacities?

My question: what strategies have you thought of or do you have in place to protect your assets from your loss of mental capacity? I think this is a very real concern but I think another real concern that is maybe less ominous is the circumstance with couples where each person has become the family...
by MikeG62
Wed May 31, 2017 8:31 am
Forum: Personal Consumer Issues
Topic: Using LastPass to Manage Passwords
Replies: 38
Views: 3206

Re: Using LastPass to Manage Passwords

I also use LastPass, but only the desktop/browser version - not the mobile version. The reason I do not use the Mobile app is because I use two factor authentication to log into LastPass (the second factor being an authenticator app on my phone). So should someone get access to my phone (which I tak...
by MikeG62
Wed May 31, 2017 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 5776

Re: Senility and Seductresses: How do you plan on protecting your money when you lose your mental capacities?

I've thought about this a lot, but from a slightly different perspective - how to protect and manage our assets should I predecease my wife. This is a big concern for me as I handle all financial matters in our relationship and my wife has close to zero interest in getting involved or educating hers...
by MikeG62
Tue May 30, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: 529 Withdrawals for Room and Board
Replies: 10
Views: 1332

Re: 529 Withdrawals for Room and Board

What does IRS Pub 970, Chapter 8, Qualified Tuition Program, say regarding a student's employment status? Nothing, as far as I can tell. And the only wording re. room and board is what I posted above. The specific situation here is that the person of interest has a full-time job but is attending sc...
by MikeG62
Mon May 29, 2017 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Contributing the entire Year 401K in one Pay period allowed?
Replies: 20
Views: 2591

Re: Contributing the entire Year 401K in one Pay period allowed?

Agree with above. However, one thing to be mindful of is if you leave your employer before the true-up is done you "may not" be entitled to it. This happened to me my last year of work. Contributed the max ($24K) in the first two months of the year (then retired). Company plan required I ...
by MikeG62
Sun May 28, 2017 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Unwinding a maturing UTMA to pay least taxes
Replies: 18
Views: 1144

Re: Unwinding a maturing UTMA to pay least taxes

? If son is age of majority, why is there a "kiddie tax" ? or are you just saying that as a young adult he has a possible tax liability? Perhaps still a dependent due to student status, etc. But it does raise the question: can the son wait a couple of years until he is limited not by the ...
by MikeG62
Sun May 28, 2017 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Third-party travel insurance, anyone?
Replies: 34
Views: 1961

Re: Third-party travel insurance, anyone?

For those of you thinking that your Chase Sapphire Reserve (or other CC ) is a substitute for third-party trip insurance, you should spend some time on Flyertalk, where there are constant complaints about coverage and hassles getting paid on claims. I am not sure collecting is ever easy no matter t...
by MikeG62
Sun May 28, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Debit card backup
Replies: 17
Views: 1353

Re: Debit card backup

OP, just because you have CC's does not mean you have to use them. In this case, your aversion to credit cards put you in this position. My recommendation would be to get two good (no fee) credit cards and carry them with you. This way, if one gets compromised you have a backup. Since you are not li...
by MikeG62
Sun May 28, 2017 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Contributing the entire Year 401K in one Pay period allowed?
Replies: 20
Views: 2591

Re: Contributing the entire Year 401K in one Pay period allowed?

IceArdor But for readers who are not self employed and have company-matched retirement plans, read on. At my workplace, we were warned that the company match of 2/3rds up to 6% employee (4% match) is determined based on the employee's contribution from each pay period. If I ever have a paycheck whe...
by MikeG62
Fri May 26, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: i am my own "guy," but not sure I should advertise that
Replies: 107
Views: 13572

Re: i am my own "guy," but not sure I should advertise that

I do not initiate conversations about money or investing. I find very few people want to discuss the subject (kind of like politics). Having said that, some of my closest friends (as well as family members) find that I am a resource on investing and they will periodically ask for advice. When asked,...
by MikeG62
Fri May 26, 2017 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity customer protection guarantee-void if you use Mint?
Replies: 39
Views: 3031

Re: Fidelity customer protection guarantee-void if you use Mint?

...Some financial institutions may claim that their warranty may be voided but this has never been tested in court. I'm not a lawyer but I've worked with enough to know that any lawyer arguing that a financial institution could avoid their warranty obligations by trying to blame an aggregator would...
by MikeG62
Fri May 26, 2017 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Risky to ask for raise with another offer?
Replies: 28
Views: 2323

Re: Risky to ask for raise with another offer?

Without going into too much detail, does anyone have any advice on whether or not asking for a raise by using another offer is too risky if I really don't want to leave. I suppose these are pertinent points: 1) jobs essentially the same, current company more stable 2) I feel I am underpaid but over...
by MikeG62
Wed May 24, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Identify theft inusrance coverage - worth it?
Replies: 10
Views: 783

Re: Identify theft inusrance coverage - worth it?

It is covered by my umbrella insurance policy.
by MikeG62
Mon May 22, 2017 7:43 am
Forum: Investing - Theory, News & General
Topic: For those with $500k-$1m in investments...
Replies: 138
Views: 12939

Re: For those with $500k-$1m in investments...

We are ~80% taxable and ~20% tax deferred/free (vast majority of the latter is tax deferred). I am 54 and DW is 52 years old. Retired last year. Contributed maximum amount allowed by law every year to 401k for at least the last two decades of work (and got sizable company match on those contribution...
by MikeG62
Sun May 21, 2017 6:28 am
Forum: Personal Finance (Not Investing)
Topic: Use 529 Money Or Not?
Replies: 19
Views: 1521

Re: Use 529 Money Or Not?

My son will start a top 14 law school this fall. All in it will cost about $250,000 to $300,000 including living expenses. I can pay for it from taxable savings or from his 529 account. I'm thinking of doing something else with the 529 and just paying for law school directly. Assuming he starts thi...
by MikeG62
Sat May 20, 2017 8:50 am
Forum: Investing - Help with Personal Investments
Topic: Automatic Reinvestment: To "check" or not to "check" (the box) . . that is the question?
Replies: 52
Views: 4766

Re: Automatic Reinvestment: To "check" or not to "check" (the box) . . that is the question?

For my taxable accounts (most of my $), during my working years I checked the box. I retired last year and still have the box checked. However, once I deplete my excess cash I plan to uncheck the box to provide some of the cash flow I need to fund retirement lifestyle.
by MikeG62
Sat May 20, 2017 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Variable Compensation and 401k Match
Replies: 7
Views: 572

Re: Variable Compensation and 401k Match

How do you approach maxing 401k contributions/matching when a large percentage of your total compensation is in the form of a yearly bonus. I did some calculations and there is the potential to miss out on the match if you max out your 401k too early in the year. Are you sure you will miss out on s...
by MikeG62
Sat May 20, 2017 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Job loss
Replies: 28
Views: 2399

Re: Job loss

Thanks for the comments everyone. Unfortunately I think some of the ideas offered may not be feasible because of the manner in which I may be dismissed. This is a potential firing, not a lay off. First, sorry to hear you are in this situation. Any possible case for wrongful termination? Can you neg...
by MikeG62
Fri May 19, 2017 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Cars policy/timing for teens/young adults
Replies: 22
Views: 1375

Re: Cars policy/timing for teens/young adults

Now, what would I do differently if I had to do it over again? I would lease a brand-new car for each of them. Interesting idea. How does the math work out? I just quickly looked at a Civic. Leases right now are 179/mo which would total $25k if two 3 year leases for each child, plus 4 down payments...
by MikeG62
Fri May 19, 2017 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Cars policy/timing for teens/young adults
Replies: 22
Views: 1375

Re: Cars policy/timing for teens/young adults

OK, here is what we did. Then I'll tell you what I would do if I had to do it over again. As each kid got their license we bought them a low-miles used (2-3 years old), but nice car. Vehicles had all safety features associated with the model year (airbag's, parking sensors, backup camera's, etc...)....
by MikeG62
Thu May 18, 2017 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Question for you high net worth individuals... [real estate investments]
Replies: 82
Views: 10456

Re: Question for you high net worth individuals...

jzzmn88 wrote:Hi all,

For you high net worth individuals (talking $3 million+), how much of that was attributed to real estate investing?


Zero. Wealth accumulated through high paying job (at large corporation) and living below our means (although far from frugally), which allowed for retirement at 53.
by MikeG62
Tue May 16, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 613
Views: 87713

Re: High Earners - What's Your Profession?

SVP Finance and Accounting at Mega-Corp. Worked there for over two decades. Started career as CPA in top 4 accounting firm. Retired at 53.
by MikeG62
Sat May 13, 2017 4:21 pm
Forum: Investing - Theory, News & General
Topic: Praise for Roth IRA conversions in retirement, a bonus for early retirees
Replies: 11
Views: 2002

Re: Praise for Roth IRA conversions in retirement, a bonus for early retirees

OP, it is great to hear of your success with partial systematic Roth conversions. I embarked on the same process myself last year and if all goes according to plan I will have 17 years to shift assets from tIRA to rIRA. I hope I can report the same success as you a decade from now.
by MikeG62
Sat May 13, 2017 12:35 pm
Forum: Investing - Theory, News & General
Topic: Fidelity portfolio advisory services
Replies: 25
Views: 2237

Re: Fidelity portfolio advisory services

Find out what the expense ratio is on the funds Fidelity would have you invest in. Most likely, they will be high expense funds in addition to the management fees. Vanguard offers an advisory service with a fee of 0.3% and they use Vanguard's very low expense funds. In short, Fidelity will be expen...
by MikeG62
Sat May 13, 2017 8:15 am
Forum: Personal Finance (Not Investing)
Topic: schedule c for single owner llc
Replies: 7
Views: 675

Re: schedule c for single owner llc

ketanco wrote:He even told me that getting an EIN was not even necessary in the first place, until I will have employees.


As an aside, you may need an EIN to open a bank account in the name of the LLC.
by MikeG62
Sat May 13, 2017 7:34 am
Forum: Investing - Theory, News & General
Topic: Retirees, what is your marginal tax rate?
Replies: 33
Views: 3005

Re: Retirees, what is your marginal tax rate?

My TOTAL federal income taxes paid in the last 13 years was less than $2700, but most years it was zero, so my present marginal tax rate is 0% compared with 39% before retiring. Sheepdog, this is awesome. Some incredible tax planning there. :thumbsup OP, while working (last 15 or so years) most yea...
by MikeG62
Sat May 13, 2017 7:14 am
Forum: Investing - Theory, News & General
Topic: Confirm Withdrawl Strategy
Replies: 17
Views: 1634

Re: Confirm Withdrawl Strategy

Nope, exactly what I am doing with my tax deferred accounts now (retired last year at 53) and plan to continue doing until I turn 70 (and start drawing SS and RMD's from remaining tax deferred accounts). You sound like you are in great shape, especially with a initial annual withdrawal rate under 3%.
by MikeG62
Fri May 12, 2017 6:51 pm
Forum: Investing - Theory, News & General
Topic: Fidelity portfolio advisory services
Replies: 25
Views: 2237

Re: Fidelity portfolio advisory services

Yes,I get that feeling of the other high expenses etc....but when he was putting on the hard sell and mentioned about tax loss harvesting, he got my attention,reason being that I do not know anything about that and if they where going to do that so I would save paying more than my fair share, I sai...
by MikeG62
Fri May 12, 2017 12:58 pm
Forum: Investing - Help with Personal Investments
Topic: Nonqualified Deferred Compensation distributions
Replies: 13
Views: 848

Re: Nonqualified Deferred Compensation distributions

I began contributing around 2010 and choose a 5 year payout period post termination of employment. However, our Board of Directors decided to accept a takeover offer in 2015 resulting in a change-in-control of the company. This triggered a provision in the plan whereby all deferred amounts had to p...
by MikeG62
Fri May 12, 2017 7:36 am
Forum: Investing - Help with Personal Investments
Topic: Nonqualified Deferred Compensation distributions
Replies: 13
Views: 848

Re: Nonqualified Deferred Compensation distributions

I began contributing around 2010 and choose a 5 year payout period post termination of employment. However, our Board of Directors decided to accept a takeover offer in 2015 resulting in a change-in-control of the company. This triggered a provision in the plan whereby all deferred amounts had to pa...
by MikeG62
Wed May 10, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Cash Fund Advice
Replies: 12
Views: 919

Re: Cash Fund Advice

I just got off the phone with a Fidelity rep who basically said that the only cash/mm fund they have is the Fidelity government fund. Today this fund pays 0.11% after its expenses. n How about SPRXX? 7 day yield is 0.81%. Far better than the gov't fund the rep suggested. https://fundresearch.fideli...
by MikeG62
Tue May 09, 2017 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: 529 vs. taxable investment account for college
Replies: 33
Views: 3130

Re: 529 vs. taxable investment account for college

How do they know what you are spending the 529 dollars on?? There is obviously a list of eligible items but I never really thought about how they verify you are actually spending your 529 on them. Assuming by "they" you are referring to the IRS, you are responsible for tracking how all mo...
by MikeG62
Tue May 09, 2017 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Individual health insurance
Replies: 59
Views: 3414

Re: Individual health insurance

I bought insurance in the open market this year for the first time (for my wife and I) - retired last year (we are early/mid 50's). Options were limited (I live in NJ) - basically BCBS and Ameriprise. Ended up buying directly from Blue Cross and Blue Shield. Monthly premium for the two of us is ~$1...
by MikeG62
Mon May 08, 2017 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead Debt Free Scream! 174K in 53 months
Replies: 24
Views: 3547

Re: Boglehead Debt Free Scream! 174K in 53 months

Congratulations. Well done and impressive.

Go to advanced search