Search found 399 matches

by MikeG62
Wed Aug 16, 2017 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: How can I keep track of my monthly spendings?
Replies: 26
Views: 1312

Re: How can I keep track of my monthly spendings?

Multi-tabbed Excel spreadsheet. One tab is electronic checkbook register (created by me which replaces paper checkbook register). Second tab summarizes monthly credit card spending in the categories (about 8 of them) I want to track for such spending - for all CC's used that month. Third tab pulls i...
by MikeG62
Tue Aug 15, 2017 7:05 am
Forum: Personal Finance (Not Investing)
Topic: best credit card for airline mile
Replies: 28
Views: 4639

Re: best credit card for airline mile

Sorry for restarting this thread - I thought this would be the best thread to state my question - I have a Chase United Airlines credit card. I used to travel a lot on business and the yearly fee ($95) was not bad in light of what I was doing. I have since started working from home and travel maybe...
by MikeG62
Wed Aug 09, 2017 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Alliant Credit Union Signature VISA
Replies: 12
Views: 1056

Re: Alliant Credit Union Signature VISA

Update: So it gets better (sarcastically). So I upload my tax returns, my K1, last two pay stubs, utilities bill and the application processors are still not happy. They want a utility bill in my name, not wife's. They want W2's. well, I don't get W2's..I get K1's. What is tipping it over the edge ...
by MikeG62
Tue Aug 08, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Alliant Credit Union Signature VISA
Replies: 12
Views: 1056

Re: Alliant Credit Union Signature VISA

...That is standard at most credit unions and banks if you are retired. It is not standard practice at banks. Applied for and obtained the Chase Sapphire Reserve card in February of this year (retired in early 2016) and was approved without issue. DW applied for and obtained Chase United Explorer c...
by MikeG62
Tue Aug 08, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: How do you manage cash back rewards?
Replies: 26
Views: 2413

Re: How do you manage cash back rewards?

Depends on the specific CB card, but generally speaking I try to let the CB build and use it in larger chunks. It feels more impactful this way. For example, had $600 in CB that accumulated on one of my cards. Cashed that out (ACH to my bank account) and used for pocket money on a recent trip/vacati...
by MikeG62
Tue Aug 08, 2017 7:29 am
Forum: Investing - Help with Personal Investments
Topic: Question on 3-4% drawdown for retirement
Replies: 47
Views: 2772

Re: Question on 3-4% drawdown for retirement

aristotelian wrote:There is the whole problem of inflation. If you are holding your principal constant and only pulling a level % of dividends, your portfolio and annual withdrawal will be slowly losing real value. Eventually you will need to dip into your portfolio to maintain your standard of living...
This.
by MikeG62
Tue Aug 08, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: kids think lazy if retire?
Replies: 70
Views: 7700

Re: kids think lazy if retire?

Specific concerns with regarding the kids: 1. Will they continue to respect me if I’m not working---just minding my own business, catching up on shows, books, reestablishing friendships etc.)?? 2. Will I lose moral authority with them regarding insisting that they study and work hard in school? 3. ...
by MikeG62
Fri Aug 04, 2017 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Losing confidence in Ally Bank - what would you do
Replies: 58
Views: 6567

Re: Losing confidence in Ally Bank - what would you do

I have been doing business with three online banks for many years now - Ally, Discover and Barclays. My relationship with Ally and Discover span almost a full decade, while my relationship with Barclays is about 5 years. As I have been continually investing excess cash, I have gotten to the point wh...
by MikeG62
Tue Aug 01, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: FAFSA: if known result, why complete?
Replies: 44
Views: 2531

Re: FAFSA: if known result, why complete?

My daughter went to a private college and I filled it out the 1st year. For me, it was a total waste of time as I got no benefit out of it. Took no loans for either of my daughters as I funded both of their educations from the 529 accounts I had set up long ago. I suspected this would be the case si...
by MikeG62
Tue Aug 01, 2017 7:25 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2016
Views: 348941

Re: What's Your Credit Card Rewards Strategy?

... Did you check the price of the same hotel in other websites like trivago.com, hotels.com, priceline.com..price is always higher when you book directly from the hotel's website..i think if you check other websites, you should see the same price of $154.... The price isn't always higher on the ho...
by MikeG62
Wed Jul 26, 2017 6:36 am
Forum: Personal Finance (Not Investing)
Topic: Taxes on capital gains
Replies: 11
Views: 1175

Re: Taxes on capital gains

Depends on your filing status. This article provides the details you are looking for.

http://www.bankrate.com/taxes/no-capita ... investors/
by MikeG62
Mon Jul 24, 2017 12:00 pm
Forum: Investing - Help with Personal Investments
Topic: Stock Compensation and AA
Replies: 8
Views: 457

Re: Stock Compensation and AA

...Not options in this case. I received a significant outright grant of stock that vests fully in a year as part of a corporate transaction. I've already made an 83(b) election. If the likelihood of your staying for the year and vesting is very high (and I would think it would be with a one-year ve...
by MikeG62
Mon Jul 24, 2017 7:30 am
Forum: Personal Finance (Not Investing)
Topic: What's you safety deposit box fee?
Replies: 50
Views: 3115

Re: What's you safety deposit box fee?

We closed our safe deposit box several years ago. Was paying around $85 per year at the time and I felt we were throwing money away. We did not have much in there to be too worried about and every time we needed to access it (usually to get our passports), it required a trip to the bank. We bought a...
by MikeG62
Mon Jul 24, 2017 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Is this a good deal for xfinity
Replies: 6
Views: 695

Re: Is this a good deal for xfinity

abner kravitz wrote:In my experience, $165 is a good price for what you are getting. If you want this stuff (which I do also), I don't think you will ever find it significantly cheaper. I pay over $200, with phone service which I rarely use.


+1
by MikeG62
Mon Jul 24, 2017 7:14 am
Forum: Investing - Help with Personal Investments
Topic: Stock Options and NQDC strategies
Replies: 8
Views: 455

Re: Stock Options and NQDC strategies

Mid 40s. The NQDC can be distributed over 10 years or 5 years, and once you leave the company, you can defer distribution one time for 5 years, so my intent is to immediately take the 5 year distribution and to defer my 10 year distribution 5 years, which effectively gives me a 15 year annuity. If ...
by MikeG62
Sun Jul 23, 2017 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: Stock Options and NQDC strategies
Replies: 8
Views: 455

Re: Stock Options and NQDC strategies

OP, how old are you and how close to retirement? When you say taking distributions over 15 years once leaving employer, are you envisioning leaving your employer and retiring? Is it possible you could take another job and then be taking distributions while also earning a salary (therefore losing the...
by MikeG62
Sat Jul 22, 2017 7:21 am
Forum: Investing - Help with Personal Investments
Topic: Planning 529 Distributions
Replies: 26
Views: 1483

Re: Planning 529 Distributions

Great info. Thanks everyone! So just to be clear on terminology, taking distributions under the scholarship exception (taking more than expenses minus scholarships) is still referred to as "non-qualified distributions"? It's just that they are without the 10% penalty? Yes, that is correct...
by MikeG62
Fri Jul 21, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Alliant Credit Union Signature VISA
Replies: 12
Views: 1056

Alliant Credit Union Signature VISA

Applied for the Alliant Signature VISA card yesterday. Received a call today that they wanted complete copies of my tax returns for the last two years to verify my income. I told them that I retired in 2016 and therefore have not even filed a full year tax return yet that reflects me as a retired pe...
by MikeG62
Fri Jul 21, 2017 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: Planning 529 Distributions
Replies: 26
Views: 1483

Re: Planning 529 Distributions

I do not keep receipts per se. However, in some cases (book purchases through amazon for example) I would be able to get a receipt. I'm thinking the vendor name on the account statement associated with the charge is pretty good support. I was an auditor (not IRS) early in my career and I would acce...
by MikeG62
Fri Jul 21, 2017 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Planning 529 Distributions
Replies: 26
Views: 1483

Re: Planning 529 Distributions

My youngest daughter has lived off campus since she was a sophomore so lots of experience here. In terms of support, there are the bank statements showing the rent payments. For all other OOP expenses, she used a either debit card (for ATM cash withdrawals) and a credit card for all purchases (food...
by MikeG62
Fri Jul 21, 2017 7:37 am
Forum: Investing - Help with Personal Investments
Topic: Planning 529 Distributions
Replies: 26
Views: 1483

Re: Planning 529 Distributions

You could also keep the money in the 529 account and change the beneficiaries to one of your grandchildren. Presuming that the OP doesn't have grandchildren yet, though (which may be the wrong presumption), they should keep track of who the beneficiary is and make sure they don't reach 30 before ma...
by MikeG62
Fri Jul 21, 2017 7:32 am
Forum: Investing - Help with Personal Investments
Topic: Planning 529 Distributions
Replies: 26
Views: 1483

Re: Planning 529 Distributions

...Not sure about the university housing and meals cost numbers being a substitute for receipts. I wasn't getting that impression from the various online sources of 529 info that I've read thus far. I thought those numbers were just a max, and you would still have to be able to prove your expenditu...
by MikeG62
Fri Jul 21, 2017 7:21 am
Forum: Investing - Help with Personal Investments
Topic: Planning 529 Distributions
Replies: 26
Views: 1483

Re: Planning 529 Distributions

gibbsies wrote:You could also keep the money in the 529 account and change the beneficiaries to one of your grandchildren.


+1, this is what I am doing (for future grandchildren).
by MikeG62
Thu Jul 20, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Cobra Benefits question
Replies: 6
Views: 505

Re: Cobra Benefits question

Yes he would be entitled to Cobra. See here...

http://www.cobrainsurance.com/know_your_cobra.htm

Just keep in mind that he will pay 100% of the premium plus a small administrative fee.
by MikeG62
Thu Jul 20, 2017 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Full View usefulness?
Replies: 34
Views: 2423

Re: Fidelity Full View usefulness?

Is anyone successfully using FullView to see their aggregate asset allocation across multiple accounts? I just set it up as a test. It automatically includes all Fidelity accounts plus I added an external accounts. I'm baffled that the "asset allocation" tool shows me the % distribution a...
by MikeG62
Mon Jul 17, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2016
Views: 348941

Re: What's Your Credit Card Rewards Strategy?

For an all around cashback card you're better off with the Alliant Visa Signature card than a 2% cashback card if you spend more than $11,800 a year. It's 3% cashback on all purchases the first year and 2.5% after that. There is a $59 annual fee, but it's waived the first year. +1 very under-rated ...
by MikeG62
Mon Jul 17, 2017 7:45 am
Forum: Personal Finance (Not Investing)
Topic: 18 year old first credit card recommendations
Replies: 44
Views: 2369

Re: 18 year old first credit card recommendations

Four years ago one son started with a credit card in college from the same bank that he had a savings and checking accounts with that started in high school. Initially got a credit limit of something like $700 and now it's up to something like $2000. Most months the amounts that have been charged h...
by MikeG62
Sat Jul 15, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Ally debit card for ATM withdrawals outside the United States
Replies: 23
Views: 1173

Re: Ally debit card for ATM withdrawals outside the United States

Fidelity cash management reimburses ATM fees and gives a favorable exchange rate. I suspect it is not the spot rate, but it is good. I had thought about Fidelity, but do not want any ATM/Debit card tied to an account with as much assets in it as I have at Fidelity. I want to keep that accounted as ...
by MikeG62
Sat Jul 15, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Ally debit card for ATM withdrawals outside the United States
Replies: 23
Views: 1173

Re: Ally debit card for ATM withdrawals outside the United States

Many people, including myself, have stronge feelings about not ever using debit cards because any problems can be harder to resolve with a credit card and there have been a number of threads about this. I have a plain ATM card instead of a debit card because of this. This is especially true when yo...
by MikeG62
Sat Jul 15, 2017 8:33 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2016
Views: 348941

Re: What's Your Credit Card Rewards Strategy?

Penfed 5% gas card is done. I got mine just before they discontinued it. In a way, I am not surprised given the cash back % being so high. It is interesting though, since this card does still show on their web site, with a notation to call to get it. For an all around cashback card you're better of...
by MikeG62
Sat Jul 15, 2017 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Ally debit card for ATM withdrawals outside the United States
Replies: 23
Views: 1173

Re: Ally debit card for ATM withdrawals outside the United States

...Ironically, I was just there for Canada's 150th Anniversary an I used my Ally Debit card to take cash out of an atm. I took out $40 for our 3.5 day stay in Quebec and I regretted it. Every single place I went to took credit cards except for one. I ended up scrambling on our last day to use up my...
by MikeG62
Sat Jul 15, 2017 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Tips and advice from those who had their homes built
Replies: 13
Views: 1237

Re: Tips and advice from those who had their homes built

We've built our last two homes, so lots of experience here. I second the comment that things will cost more than you think, so be prepared for that. Upgrades will come out of the woodwork once you realize that the home you are looking at does not come with this feather or that feature. Then once you...
by MikeG62
Fri Jul 14, 2017 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Ally debit card for ATM withdrawals outside the United States
Replies: 23
Views: 1173

Re: Ally debit card for ATM withdrawals outside the United States

Sidney, Thanks, I suspect you are right, but feel better safe than sorry. I am only talking about a couple of hundred CAD anyway. If I find myself with excess CAD on the last day I can always put it toward the hotel room cost when I settle up the bill. LadyGeek, Thanks for moving this post to where ...
by MikeG62
Fri Jul 14, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Ally debit card for ATM withdrawals outside the United States
Replies: 23
Views: 1173

Ally debit card for ATM withdrawals outside the United States

Long time Ally customer, with interest checking account among online savings and no penalty CD's. DW and I will be traveling to Canada (Quebec City) next month. From what I understand, if I use my Ally debt card for ATM withdrawals in a foreign country, the FTF will not exceed 1% (as long as I use a...
by MikeG62
Fri Jul 14, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Contributing the entire Year 401K in one Pay period allowed?
Replies: 22
Views: 3155

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

ERISA Stone, No worries at all. Your post is helpful for sure. In my case, I think they paid me what they legally owed me. However, even if I am wrong about that, I signed a legal waiver of any claims against them as a condition of receiving the large change in control separation payment to which I ...
by MikeG62
Fri Jul 14, 2017 7:27 am
Forum: Investing - Help with Personal Investments
Topic: What advice to give 21 year old?
Replies: 105
Views: 6019

Re: What advice to give 21 year old?

Based upon his age and future earning potential, I think he should be 100% in equities with his current savings (as he can ride out any reasonable downturn) - at least for the portion of his savings that he does not need for shorter term cash needs.
by MikeG62
Fri Jul 14, 2017 7:11 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2016
Views: 348941

Re: What's Your Credit Card Rewards Strategy?

The Costco VISA is pretty good too, paying 4% on gas "purchased at Costco". Gas can be purchased anywhere for the 4% off. If you look at the link it says "Gas worldwide, including at Costco". https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=Citi-costco-anywhe...
by MikeG62
Fri Jul 14, 2017 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Is new car replacement insurance worth it?
Replies: 33
Views: 2104

Re: Is new car replacement insurance worth it?

How much is the additional $125 as a % of the amount of the premium? I'd bet not a huge %. I opted for this on my wife's new car several years ago (cost of car was ~$60K). Incremental cost was ~10% above the cost without this option (as I recall, it was around $100 annual in my case), and I thought ...
by MikeG62
Fri Jul 14, 2017 6:57 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2016
Views: 348941

Re: What's Your Credit Card Rewards Strategy?

So what might the suggested cards be for someone willing to unlock their credit for opening a cash back card or two? (including a business)? Currently use Amazon 5% card, a southwest Card (that we no longer fly....more likely delta or american....although with 3 small kids travel is limited and pre...
by MikeG62
Wed Jul 12, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: My first poor Ally Bank experience
Replies: 25
Views: 4781

Re: My first poor Ally Bank experience

I've been using Ally for almost a full decade now. I've been very happy with them (and in fact have recently consolidated all my online banking with Ally). However, I do think they can be frustrating to deal with in certain cases. A few personal experiences: 1. Daughter's Ally debit card was comprom...
by MikeG62
Wed Jul 12, 2017 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Is booking travel via Chase Travel Portal cheaper?
Replies: 15
Views: 1633

Re: Is booking travel via Chase Travel Portal cheaper?

You should read the posts here: m Seems some folks have had issues with hotels booked directly through the UR portal. I too have a lot of Chase UR points, but when I use them I plan to transfer them to a partner and redeem through the partner site. Just feels cleaner than way (and avoids some of the...
by MikeG62
Tue Jul 11, 2017 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card vrs checking account for utility bills
Replies: 23
Views: 1773

Re: Credit card vrs checking account for utility bills

I pay everything I possibly can by charging one of my cash back or reward CC's. This includes all my utilities, my heath, auto, and homeowners insurance premiums, my landscapers, and all purchases. Even though my electric/gas company charges a modest CC processing fee, I earn more in cash back than ...
by MikeG62
Tue Jul 11, 2017 6:27 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2016
Views: 348941

Re: What's Your Credit Card Rewards Strategy?

DW just got an offer from United (MileagePlus Explorer card). 70,000 miles when spending $3,000 in first three months + 5,000 additional miles when adding an authorized user. While she had taken advantage of a bonus offer on this card before (3-4 years ago), we long ago cancelled that card (before t...
by MikeG62
Tue Jul 11, 2017 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Self insuring LTC
Replies: 15
Views: 1387

Re: Self insuring LTC

TomatoTomahto wrote:...I figure that, if I'm in a nursing facility, I'm no longer taking trips, eating at expensive restaurants, buying Tesla, so I should probably be spending less than I would in normal retirement. YMMV.


+1.
by MikeG62
Mon Jul 10, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: early retirement, asset location
Replies: 9
Views: 1146

Re: early retirement, asset location

Sooner or later I will hit upon the right question - if you want x dollars to spend how do you arrive at how much money you need saved up between y taxable and z tax deferred accounts. You will get a better answer if you provide more details. We have no idea whether 3% of asset is $25,000 or $250,0...
by MikeG62
Mon Jul 10, 2017 7:17 am
Forum: Personal Finance (Not Investing)
Topic: early retirement, asset location
Replies: 9
Views: 1146

Re: early retirement, asset location

Sure it would. Any money in a tax deferred account will result in income tax being due upon withdrawal. In this case, your 3% withdrawal rate would need to also cover the taxes due on $ withdrawn from the tax deferred account. While there may be tax due on sales from a taxable account, it is only to...
by MikeG62
Sun Jul 09, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Experience getting new credit card with frozen credit
Replies: 14
Views: 1056

Re: Experience getting new credit card with frozen credit

Thanks. I waited one day for added assurance it would be processed. Applied for the CC this morning and my wife was approved. So we are good to go. FWIW, CC offer my wife received was 70,000 miles on United (after spending $3K in 3 months) - United Explorer Card. Added an authorized user for additio...
by MikeG62
Sun Jul 09, 2017 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Any credit cards with good travel insurance and low to no annual fees?
Replies: 5
Views: 484

Re: Any credit cards with good travel insurance and low to no annual fees?

OP, if you are traveling then the Chase Sapphire Reserve annual cost drops to $150 per year. I would not consider that a high annual fee given the benefits of the card.
by MikeG62
Sun Jul 09, 2017 6:52 am
Forum: Personal Finance (Not Investing)
Topic: health insurance after retirement?
Replies: 29
Views: 2772

Re: health insurance after retirement?

Retired last year at 53 (DW also retired and two years younger). Elected COBRA for the rest of 2016 and then bought insurance through the ACA beginning this year. For the two of us, premiums are ~$1,300 per month (insurer is BSBC - live in NJ). I budget $400 per month for OOP's and for the first 6 m...
by MikeG62
Sat Jul 08, 2017 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Experience getting new credit card with frozen credit
Replies: 14
Views: 1056

Re: Experience getting new credit card with frozen credit

Just going through this now for my wife. Temporarily lifted the freeze on her account (for 3 days) an hour ago. Information online seems to indicate that the credit bureau can unfreeze the file in less than 15 minutes. Anyone with specific first hand experience with this and able to confirm that the...