Search found 253 matches

by MikeG62
Sun Apr 23, 2017 2:04 pm
Forum: Investing - Help with Personal Investments
Topic: [Should I get an advisor?]
Replies: 8
Views: 376

Re: [Should I get an advisor?]

How is the $4.2M after tax invested now and how large are your unrealized capital gains? If large, that could prevent you from making major moves on the taxable side. I would advise you to consider periodic systematic Roth conversions at least up to the top of the 15% tax bracket for the years betwe...
by MikeG62
Sun Apr 23, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 64
Views: 5042

Re: Any regrets living a frugal life for high income/high networth individuals?

Another question for the high income frugal individuals. How often did you have to bat off "Keeping up with the Joneses"? Did it come up regularly where you saw co-workers/friends/relatives taking their trips to Italy and Spain, getting their new (insert item here) and you felt a need to ...
by MikeG62
Sun Apr 23, 2017 8:28 am
Forum: Investing - Help with Personal Investments
Topic: Just left my company and exercised my options [invest now or DCA?]
Replies: 13
Views: 700

Re: Just left my company and exercised my options [invest now or DCA?]

I ended my employment and I had to cash in my stock options. Once taxes were taken out, I received 330,000. I currently have 1.2 million in my 401k, and 200k in after tax stock account. Should I invest the 330,000, all at once into my after tax stock account or DCA the money? Thank you for your ans...
by MikeG62
Sun Apr 23, 2017 8:20 am
Forum: Investing - Help with Personal Investments
Topic: Understanding iShares initial investment index differences
Replies: 12
Views: 530

Re: Understanding iShares initial investment index differences

stlutz wrote:The interesting thing is that people here as they acquire more assets generally (not always) seem to move in the direction of simpler portfolios than more complex.


And as they get "older" and "wiser".
by MikeG62
Sun Apr 23, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: TLH question please. Doing my taxes.
Replies: 10
Views: 776

Re: TLH question please. Doing my taxes.

Can't download because majority are non covered shares, purchased long before companies had to keep track of cost basis. You should still be able to download the transactions. You will then need to go into TT and edit the cost basis (which may come in as zero). In any case, I think TT would pick up...
by MikeG62
Sun Apr 23, 2017 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 64
Views: 5042

Re: Any regrets living a frugal life for high income/high networth individuals?

I am Top 5th percentile networth for my age group (40-49) and top 2-3% income with no debt thanks to being frugal and being a boglehead now for 10 yrs. We drive > 8 yr old cars and have a remodeled but modest house In a middle to upper middle class area worth about 650k. We can afford a house twice...
by MikeG62
Sun Apr 23, 2017 7:45 am
Forum: Personal Finance (Not Investing)
Topic: End of car lease calculation
Replies: 7
Views: 508

Re: End of car lease calculation

How about leasing a new pilot? I'd bet the monthly cost to be close to what you'd pay for the loan on the used one you drive now. Plus, you'd be getting potentially updated technology and a car with a bumper to bumper warranty.
by MikeG62
Sat Apr 22, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank - Savings Account Rate Increased!
Replies: 39
Views: 3879

Re: Ally Bank - Savings Account Rate Increased!

Logged into my account this morning and saw a pleasant surprise, interest rate increased to 1.05%! Now its still not anything big compared to rates one can get at other locations, but something is better than nothing! :beer That is great to see. You'd think Ally would better publicize the increase ...
by MikeG62
Sat Apr 22, 2017 8:21 am
Forum: Investing - Help with Personal Investments
Topic: Hardest invest Q of all [when to retire]
Replies: 14
Views: 1511

Re: Hardest invest Q of all [when to retire]

When is enough, enough? I've been an aggressive saver for 34 years, always stayed heavily invested in low cost diversified equities. Use many of the Bogle principles. And it has paid off very well But I struggle making the hardest decision of all. What's enough. When to stop the rat race and just e...
by MikeG62
Sat Apr 22, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 1439
Views: 207725

Re: What's Your Credit Card Rewards Strategy?

... 5. Chase Freedom Visa ⋅ 5% back on quarterly rotating categories up to $1500 per quarter, 1% on everything else ⋅ $0 annual fee ⋅ Used for the 5% rotating categories only. The categories are typically some form of gas, grocery, restaurants, and holiday shopping. We...
by MikeG62
Sat Apr 22, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

...You seem to be assuming that the trust protector role is always "staffed." There are options for allowing the beneficiaries to appoint and remove a trust protector as needed/desired. (I am not a lawyer) If index funds continue to be the superior equity investment for the next forty yea...
by MikeG62
Fri Apr 21, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: IRS refund today!
Replies: 42
Views: 2906

Re: IRS refund today!

Spirit Rider wrote:Talk about fast. I filed Tuesday night and the refund was in my account earlier today. Less than three days. That has to be some kind of record.

Pretty impressive if you consider the volume they must have been getting on Tuesday night.

I was just hoping to get it by next Friday.


Wow
by MikeG62
Fri Apr 21, 2017 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

...I agree with all of this, which is why I feel that a trust that restricts a trustee to index investing should also have a means to modify that requirement in the event the future is radically different. The Trust Protector approach is one way to do this. There is already appropriate boilerplate ...
by MikeG62
Fri Apr 21, 2017 8:01 am
Forum: Personal Finance (Not Investing)
Topic: US Bank Travel Card 50k Points ($1k value)
Replies: 6
Views: 744

Re: US Bank Travel Card 50k Points ($1k value)

I do not think this card compares well to the Chase Sapphire Reserve for use on an ongoing basis.
by MikeG62
Fri Apr 21, 2017 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 127
Views: 11081

Re: Do you have an umbrella policy?

Wish I could get some of these low umbrella rates other people are paying...mine is $330 for only 1m and I called around - that was the cheapest and includes the discount from home/auto with same carrier. Tried to get 2m and it MORE than doubled. :shock: Unfortunately I'm in a HCOL area, one of the...
by MikeG62
Thu Apr 20, 2017 5:18 pm
Forum: Investing - Help with Personal Investments
Topic: How to Handle Taxes on One Time Windfall (sale)
Replies: 13
Views: 896

Re: How to Handle Taxes on One Time Windfall (sale)

Spirit Rider: We normally pay, rather than receive a refund. Last year we paid about $8k. If the taxes on the partnership distribution are around $50K, that would be about $60k in withholding to add to the current withholding. Sounds like a lot. The safe harbor is 110% of your 2016 tax. That should...
by MikeG62
Thu Apr 20, 2017 8:19 am
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 1730

Re: value of stock options

Thank you everyone for the replies! One thing I'm really good at is never looking back and saying what if. When I decide to do something, it means I have weighed all the factors and decided that my move is the right option at that time. No reason to look back and say what if. I will however learn f...
by MikeG62
Thu Apr 20, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: CA State Tax Refund ~ 3 Month Processing Time
Replies: 19
Views: 1398

Re: CA State Tax Refund ~ 3 Month Processing Time

I live in NJ and this in on their web site: Returns filed electronically may take a minimum of four weeks to validate and process. Returns filed on paper may take a minimum of 12 weeks to validate and process. Please allow for the minimum processing time before contacting us about your refund status...
by MikeG62
Thu Apr 20, 2017 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Dedicating your bonus to something
Replies: 30
Views: 2714

Re: Dedicating your bonus to something

Bonuses are just money. Nothing special. Using them to buy things you wouldn't have normally doesn't seem like a great idea to me. Either decide something is worth the money and buy it or don't. Just try and justify it as "unexpected" money. Personally I just shove it all in the investmen...
by MikeG62
Thu Apr 20, 2017 6:48 am
Forum: Personal Finance (Not Investing)
Topic: Skip ESPP? - 5% discount on fix date with holding period of 6 months
Replies: 37
Views: 2300

Re: Skip ESPP? - 5% discount on fix date with holding period of 6 months

I just started my ESPP at my top fortune 10 company. It's 15% off in a six month month period, whichever is cheapest price at the beginning or the end of the six months. six month holding period. I decided to try it, I read multiple sites saying "can't beat 15% gain" in the market, if you...
by MikeG62
Thu Apr 20, 2017 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1082

Re: Stock option exercisability question

...It would be hard to make a case to change an option agreement. What I did was to negotiate the definition of my departure in advance as part of an ex-pat agreement. Prior to accepting the assignment I had the company agree that any departure at the end of the assignment (except for cause) would ...
by MikeG62
Wed Apr 19, 2017 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Stock option exercisability question
Replies: 19
Views: 1082

Re: Stock option exercisability question

...I was reading company policy documents. There is wording that, modification of awards and substitution of options can be done by a committee, that may accelerate the vesting or exercisability an award. Who is this committee, do employees while leaving ask vesting and acceleration of exercisabili...
by MikeG62
Wed Apr 19, 2017 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

I can tell you that I reached out to talk to VNTC. They mentioned that their 4 buckets of investments are total stock, total bond, total international stock, and total international bond. Depending on time frames and other factors, they might also invest in tax efficient options, like muni bonds, e...
by MikeG62
Wed Apr 19, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

What might those other ways be? If, in the future, there is something better than low cost passively managed index based funds, and your trust forbids investing in them, what does your trustee do? Go to court to change the trust? It's very simple. The trust can allow the beneficiaries to appoint an...
by MikeG62
Wed Apr 19, 2017 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Skip ESPP? - 5% discount on fix date with holding period of 6 months
Replies: 37
Views: 2300

Re: Skip ESPP? - 5% discount on fix date with holding period of 6 months

Interesting perspective (I've been wondering if accounting rules might be driving the more strict programs, so you answered that), thanks. But that should only affect the amount, right? The holding period would be different. Any ideas on what is motivating the long holding periods that companies ar...
by MikeG62
Wed Apr 19, 2017 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Skip ESPP? - 5% discount on fix date with holding period of 6 months
Replies: 37
Views: 2300

Re: Skip ESPP? - 5% discount on fix date with holding period of 6 months

rebellovw wrote:...Yep - I remember those days - what a deal it was.


And the holding period was only through earnings release for that quarter. :moneybag
by MikeG62
Wed Apr 19, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Skip ESPP? - 5% discount on fix date with holding period of 6 months
Replies: 37
Views: 2300

Re: Skip ESPP? - 5% discount on fix date with holding period of 6 months

Many companies use to do a 15% discount off the lower of the stock price at the beginning or end of the quarter. Those were the days. After companies were required to expense stock-based compensation, most companies dropped the discount to 5% (and eliminated the lower of beg or end of quarter look b...
by MikeG62
Wed Apr 19, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Need Urgent help in Capital Gains Calculations
Replies: 11
Views: 859

Re: Need Urgent help in Capital Gains Calculations

Was this investment property or a place where you lived? If the latter, it would be exempt from tax. The OP references depreciation recapture so it appears to be investment prop. Good point, I missed that in my early morning read and reply. :wink: Looks like the OP has a problem. Good thing is he/s...
by MikeG62
Wed Apr 19, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

...But things could change. New studies could come out and I don't know what they would say. Right now I have a younger generation successor trustee who is fully up to date on investing data, extremely skeptical of fads and has the quantitative background to analyze new claims. My successor's succe...
by MikeG62
Wed Apr 19, 2017 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Need Urgent help in Capital Gains Calculations
Replies: 11
Views: 859

Re: Need Urgent help in Capital Gains Calculations

Was this investment property or a place where you lived? If the latter, it would be exempt from tax.
by MikeG62
Tue Apr 18, 2017 7:36 pm
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 1730

Re: value of stock options

I am lucky enough to have some stock options from the megacorp I work for. I most likely will not be getting anymore as they have changed the requirements to be eligible for options to a level I most likely will not make. The 2 lots of options I have expire in 2019 and 2020. When I first got them i...
by MikeG62
Tue Apr 18, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

When we created our trust 25+ yrs ago, the lawyer strongly recommended ending our list of 6 relatives who would be successor trustee to each other with a trust company. He said "All the relatives could die or move away (they were siblings and parents) while the trust company would always be th...
by MikeG62
Tue Apr 18, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

I did notice from reading this other current Trust Service document (https://personal.vanguard.com/pdf/s341.pdf?2210071322) that Vanguard has increased the fee it charges for Trust services. It had been $2,500 per trust. Now it is a sliding scale % of asset in the trust, starting at 25bps on first ...
by MikeG62
Tue Apr 18, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

According to people I know who use Vanguard through PAS, not for trusts, they do not incur capital gains taxes by automatically dumping any positions in order to put everything in a few index funds. I wonder how they are able to pull this off (avoiding capital gains taxes when selling appreciated s...
by MikeG62
Tue Apr 18, 2017 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3684

Re: Trust Services

...So, can you confirm what I mentioned below? Can we leave instructions for Vanguard on how to manage the money or are they able to invest as they see fit? I am pretty sure (at least at the present time) that Vanguard will only do trust administration if they are also managing the assets. In addit...
by MikeG62
Mon Apr 17, 2017 2:59 pm
Forum: Investing - Help with Personal Investments
Topic: Savings Account: Experience with Discover, AmEx, Barclays, Synchrony?
Replies: 21
Views: 1249

Re: Savings Account: Experience with Discover, AmEx, Barclays, Synchrony?

I have used both Ally and Discover for over a decade. Both are excellent. Rates never changed once during that period (no teaser rates which drop after a while). I also started using Barclay's a few years ago. I rate them in the following order: 1. Ally 2. Discover 3. Barclays Although Barclay's onl...
by MikeG62
Mon Apr 17, 2017 2:54 pm
Forum: Investing - Help with Personal Investments
Topic: Donor advised fund - Fidelity or Schwab?
Replies: 8
Views: 531

Re: Donor advised fund - Fidelity or Schwab?

I set mine up with Fidelity last year and contributed appreciate stock. Process was very easy. I felt there were a decent number of investment options (more than I would have expected actually). I would recommend Fidelity. No issues whatsoever.
by MikeG62
Mon Apr 17, 2017 7:18 am
Forum: Investing - Help with Personal Investments
Topic: Sitting on Cash
Replies: 24
Views: 3371

Re: Sitting on Cash

Thank you all for your advice and your spin on my situation. I am going to stay the course and keep investing while building up that money for a house. Who knows, maybe I'll have enough to buy a house outright oneday. You seem very debt adverse - which I applaud. However, mortgage debt is generally...
by MikeG62
Mon Apr 17, 2017 7:11 am
Forum: Investing - Help with Personal Investments
Topic: OK to hold tax-advantaged fund in Roth?
Replies: 5
Views: 652

Re: OK to hold tax-advantaged fund in Roth?

It is OK, but likely suboptimal. A tax managed fund obviously is managed to earn as much return as possible, while at the same time minimizing the tax bite. I'd rather own a similar fund focused solely on earning as much return as possible without any thought to income tax minimization. I can't help...
by MikeG62
Sun Apr 16, 2017 7:42 am
Forum: Investing - Help with Personal Investments
Topic: Savings & Investments in order of priority
Replies: 7
Views: 726

Re: Savings & Investments in order of priority

...The only thing I can think of is to just keep saving to taxable account for rest of the year, while waiting for next year. I'd appreciate any suggestions/comments. Thank you! By all means stuff your taxable account with as much money as you can (after taking full advantage of tax deferred and ta...
by MikeG62
Sat Apr 15, 2017 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Dealership rejecting rebate after contract signed
Replies: 82
Views: 6412

Re: Dealership rejecting rebate after contract signed

There was never a discussion of if this would not qualify - i sent them the papers in advance, and they verified and applied the rebate. There was no "what if" conversation. This being said, I think you have a reasonably strong negotiating position. After all, you were clearly led to beli...
by MikeG62
Sat Apr 15, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Dealership rejecting rebate after contract signed
Replies: 82
Views: 6412

Re: Dealership rejecting rebate after contract signed

...the issue seems to be with the type of program (post-doc 4 year residency) that we were given to believe will qualify for the rebate. It sounds like you discussed the nature of your wife's degree with the dealer during the negotiation process, if in fact you were "given to believe it would ...
by MikeG62
Sat Apr 15, 2017 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 127
Views: 11081

Re: Do you have an umbrella policy?

Yes I have a $5 million personal liability umbrella policy. Cost is around $1,100 per year. It sits over the top of both my auto and homeowners insurance policies. True story. Brother-in-law's aunt was killed in auto accident (her husdand was badly injured but eventually recovered). They were hit fr...
by MikeG62
Sat Apr 15, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Received corrected 1099 - need to file amended return ?
Replies: 9
Views: 554

Re: Received corrected 1099 - need to file amended return ?

I would not. Difference is totally immaterial. FWIW, every single year for as long as I can remember I have received corrected 1099's after I filed my taxes. I never have filed an amended return because of it and differences were larger than in your case (although still immaterial to my numbers over...
by MikeG62
Sat Apr 15, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Software to track asset allocation (no tickers)
Replies: 33
Views: 2327

Re: Software to track asset allocation (no tickers)

I use Fidelity's Full View software. I think for investments without a ticker (or that are not clear) it defaults to unclassified, but believe you can amend the classification to whatever is appropriate. It should retain that update going forward. If you have accounts at Fidelity it may be worth a l...
by MikeG62
Sat Apr 15, 2017 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Are my concerns valid about homeowners insurance?
Replies: 14
Views: 1517

Re: Are my concerns valid about homeowners insurance?

What about personal liability insurance. Assuming you have that already, would it already (and if not could it be extended to) include this property and could the limits be increased to a level where you feel adequately covered for all likely risks?
by MikeG62
Sat Apr 15, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Age when you started to max out your retirement accounts?
Replies: 177
Views: 24172

Re: Age when you started to max out your retirement accounts?

For me, it was early 30's. Prior to then, income was not high enough giving fixed expenses to allow for me to max out. However, once I started maxing out I never stopped until I retired (last year). For us, retirement accounts (I'm considering those to include 401k and tIRA) are a very small % of ou...
by MikeG62
Fri Apr 14, 2017 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6668

Re: Physician using Turbotax, owing 30K so far already...

Yep, unfortunately dual earners tend to not have enough pulled from paychecks. My wife makes about $200k and I make $100k, and even with several kids, maxing out all deferred accounts, and itemizing we still need to withhold an additional sum from each paycheck (something like $200, you will be mor...
by MikeG62
Fri Apr 14, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Dealership rejecting rebate after contract signed
Replies: 82
Views: 6412

Re: Dealership rejecting rebate after contract signed

Did your wife misrepresent her degree in any way? If she was clear and they said they could make it work, then I agree with others and it's on them. If they make a big stink, then I'd return the car and have them reverse everything. If she represented her degree or entered into the agreement in vio...

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