Search found 10397 matches

by The Wizard
Mon Aug 21, 2017 7:16 pm
Forum: Personal Consumer Issues
Topic: "Forget Tough Passwords: New Guidelines Make It Simple"
Replies: 23
Views: 2871

Re: "Forget Tough Passwords: New Guidelines Make It Simple"

The crooks seem to always be one step ahead - Right. I logged on to MySocialSecurity for the first time in a while three days ago and they had me add my cellphone# for two-factor identification. They texted me a seven digit number and I was into my account like Flynn. It's nice that the Feds are on...
by The Wizard
Mon Aug 21, 2017 6:03 pm
Forum: Personal Consumer Issues
Topic: "Forget Tough Passwords: New Guidelines Make It Simple"
Replies: 23
Views: 2871

Re: "Forget Tough Passwords: New Guidelines Make It Simple"

I've been helping a lot with deploying new smartphones or helping unlock ones staff have locked on accident the last few months. It has confirmed my old concerns about written down passwords. When I've asked staff to login on their Apple account or various other accounts they first look surprised, ...
by The Wizard
Mon Aug 21, 2017 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: best strategies for income now retired for 2 months
Replies: 5
Views: 1041

Re: best strategies for income now retired for 2 months

Would be good for the OP to continue getting more knowledgeable about investing and this forum is a great way to do it. At age 56 to start, I would definitely put together a cashflow spreadsheet projecting your income each year until at least age 72. One column per year, so at least 17 columns. Idea...
by The Wizard
Mon Aug 21, 2017 4:49 pm
Forum: Investing - Help with Personal Investments
Topic: Alreday converted to Roth from Traditional IRA. Can I do it again ?
Replies: 5
Views: 258

Re: Alreday converted to Roth from Traditional IRA. Can I do it again ?

Bit of confusion here. Wrt tIRA, pro rata refers to the percentage of funds in the tIRA that are pretax vs after tax. Not clear if OP had any after tax funds involved. Was first transaction a backdoor Roth contribution? OP said no tax on conversion........I assumed that meant backdoor. He'd have to...
by The Wizard
Mon Aug 21, 2017 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: Alreday converted to Roth from Traditional IRA. Can I do it again ?
Replies: 5
Views: 258

Re: Alreday converted to Roth from Traditional IRA. Can I do it again ?

Bit of confusion here.
Wrt tIRA, pro rata refers to the percentage of funds in the tIRA that are pretax vs after tax.
Not clear if OP had any after tax funds involved.
Was first transaction a backdoor Roth contribution?
by The Wizard
Mon Aug 21, 2017 4:24 pm
Forum: Personal Consumer Issues
Topic: "Forget Tough Passwords: New Guidelines Make It Simple"
Replies: 23
Views: 2871

Re: "Forget Tough Passwords: New Guidelines Make It Simple"

In a related IT security vein, the IT ethical hacker crew at my former employer would sometimes send out clever spam emails with an embedded link to all employees.
Those who clicked on the link, of course, were required to take additional remedial training on the basics of IT security...
by The Wizard
Mon Aug 21, 2017 3:57 pm
Forum: Personal Consumer Issues
Topic: "Forget Tough Passwords: New Guidelines Make It Simple"
Replies: 23
Views: 2871

Re: "Forget Tough Passwords: New Guidelines Make It Simple"

After working in IT for decades, I believe the risk of overzealous password requirements is counteracted by the fact that it causes many people to write them down somewhere (usually close to the computer) ... Exactly what I did, yes. I had a yellow stickie nearby to my monitor with the current six ...
by The Wizard
Mon Aug 21, 2017 3:23 pm
Forum: Investing - Theory, News & General
Topic: I own no international stocks. Can you guess why?
Replies: 167
Views: 11114

Re: "Why" -- The Answer

this is known as "letting the tax tail wag the asset allocation dog". This implies that asset allocation is more important than taxes. It would obviously be better to be able to maintain your asset allocation and pay low taxes, but if prior decisions do not allow that, it is not clear to me that US...
by The Wizard
Mon Aug 21, 2017 10:01 am
Forum: Personal Consumer Issues
Topic: Frozen steaks ordered through the mail
Replies: 29
Views: 2763

Re: Frozen steaks ordered through the mail

gasman wrote:
Sun Aug 20, 2017 5:36 pm
Costco cuts their steaks too thick...
1-1/2" is a good thickness for better steaks, same as a 2x6...
by The Wizard
Sun Aug 20, 2017 12:21 pm
Forum: Investing - Theory, News & General
Topic: I own no international stocks. Can you guess why?
Replies: 167
Views: 11114

Re: I own no international stocks. Can you guess why?

moshe wrote:
Sun Aug 20, 2017 11:38 am
Hi Taylor,

You hit your number and decided to go to cash /T Bills / Notes?
Funny, this one.
Yes, after 7 decades of slaving away 40+ hours per week, Taylor FINALLY hit his number at age 93, a sufficiently good number to fund 40 years of retirement no matter WHAT happens...
by The Wizard
Sun Aug 20, 2017 11:16 am
Forum: Investing - Theory, News & General
Topic: I own no international stocks. Can you guess why?
Replies: 167
Views: 11114

Re: I own no international stocks. Can you guess why?

Guess #2: due to following a modified age in bonds formula, you now own no stocks at all! 100% bonds!
by The Wizard
Sun Aug 20, 2017 10:58 am
Forum: Investing - Theory, News & General
Topic: I own no international stocks. Can you guess why?
Replies: 167
Views: 11114

Re: I own no international stocks. Can you guess why?

Because international stocks no longer contribute to portfolio diversity?
by The Wizard
Sat Aug 19, 2017 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional Annuity as sole fixed income component
Replies: 84
Views: 8798

Re: TIAA Traditional Annuity as sole fixed income component

When I was still employed, I had some restricted Trad at the higher rate and some at the lower unrestricted rate. I planned to annuitize the higher-rate Trad and use the lower rate Trad for rebalancing, as needed. FWIW, I feel that all TIAA participants should annuitize a portion of their accumulati...
by The Wizard
Sat Aug 19, 2017 8:07 pm
Forum: Personal Consumer Issues
Topic: Construction Pros
Replies: 11
Views: 1026

Re: Construction Pros

btenny wrote:
Sat Aug 19, 2017 7:30 pm
...Rust proof screws?
I used SS screws on the deck I built at the GF's place several years ago.
They're still shining at me after all these years...
by The Wizard
Sat Aug 19, 2017 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 127
Views: 9725

Re: Jobs that pay over $100,000

LarryAllen wrote:
Sat Aug 19, 2017 7:51 pm

I don't think anyone can be an engineer. It takes a special person to be an engineer. They are quite unique. Generally my least favorite clients... by far.
Deleted...
by The Wizard
Sat Aug 19, 2017 5:29 pm
Forum: Investing - Theory, News & General
Topic: Irrational Despair?
Replies: 39
Views: 5179

Re: Irrational Despair?

DomDangelina wrote:
Sat Aug 19, 2017 12:46 pm
Dead Man Walking wrote:
Sat Aug 19, 2017 12:21 am
Did anyone think that this bull market was going to last forever?

DMW
Is it over?
Nothing is ever over.
But sometimes the pause button gets hit...
by The Wizard
Sat Aug 19, 2017 5:21 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional Annuity as sole fixed income component
Replies: 84
Views: 8798

Re: TIAA Traditional Annuity as sole fixed income component

what are the contract features? I have two different Trad contact types for accumulation, the GRA and the GSRA. The GRA credits new money at a 4.0% annual rate with restricted withdrawals (which I don't plan to do) over 9 years + 1 day. The GSRA credits new money at a 3.25% annual rate presently wi...
by The Wizard
Sat Aug 19, 2017 4:38 pm
Forum: Investing - Help with Personal Investments
Topic: Accumulation phase: Roth vs Traditional IRA?
Replies: 13
Views: 1068

Re: Accumulation phase: Roth vs Traditional IRA?

retiredjg wrote:
Sat Aug 19, 2017 2:59 pm
BTW, I think you got this backwards. Roth IRAs now make more sense if you believe you will be in a higher tax bracket during retirement (not when you retire).
As you're obviously aware, that depends on whether the tIRA is deductible or not. If non-deductible, then Roth IRA wins...
by The Wizard
Sat Aug 19, 2017 1:14 pm
Forum: Personal Consumer Issues
Topic: Help with overanalyzing purchases
Replies: 17
Views: 1184

Re: Help with overanalyzing purchases

...Once you get used to dropping thousands every month on regular bills, you won't sweat the small stuff nearly as much anymore. It puts things in perspective quick. Right. And I find I'm buying higher quality replacement things (appliances, power tools, etc) lately, after their cheaper predecessor...
by The Wizard
Sat Aug 19, 2017 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 127
Views: 9725

Re: Jobs that pay over $100,000

Average intelligence + want to become an engineer + spend time equivalent of a full time job on school = engineering degree. You have an off-center estimate of what average intelligence is. High school graduates at the 50th percentile of their large class will have a hard enough time getting into a...
by The Wizard
Sat Aug 19, 2017 12:08 pm
Forum: Personal Consumer Issues
Topic: Construction Pros
Replies: 11
Views: 1026

Re: Construction Pros

Very difficult to answer.
How much excavation and concrete work for footings is needed?
We'd have to see the entire plan and drawings to be of much help...
by The Wizard
Sat Aug 19, 2017 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 127
Views: 9725

Re: Jobs that pay over $100,000

Are you really saying that you need to be "outstanding" to be an engineer? As an engineer, I have to say that is a load of BS. Most people aren't engineers because they don't want to be engineers. It has nothing to do with ability or not being "outstanding". I am 100% confident that the average hig...
by The Wizard
Sat Aug 19, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: In retirement how much drawdown from savings is needed to generate $150k/year in expenses?
Replies: 6
Views: 1627

Re: In retirement how much drawdown from savings is needed to generate $150k/year in expenses?

Not too hard to figure out, probably $180k to $190k, filing Single, depending on itemized deductions. Easy enough to play with tax software and come within $1k. Oops, that $190k assumed all taxable. With your 50/50 mix, maybe take $80k from taxable account which costs nothing additional. Then anothe...
by The Wizard
Sat Aug 19, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage Considerations
Replies: 57
Views: 4169

Re: Reverse Mortgage Considerations

If income is not an issue, and you are not actually planning on borrowing , why consider either a HELOC or HECM ? In any case, I would think the "choice" would be dictated by circumstances - if you are working, you may not be old enough to qualify for HECM. And if you are old enough to qualify for ...
by The Wizard
Sat Aug 19, 2017 10:08 am
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 97
Views: 5688

Re: What is Bitcoin?

...Other than that, it seems to be just another form of money, but it doesn't serve as a store of value (one of the key functions of money, along with means of exchange & unit of account). Or at least, given its volatility, it doesn't seem like a very good store of value... I guess I don't grasp th...
by The Wizard
Sat Aug 19, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: How to Undo Backdoor Roth Completely
Replies: 10
Views: 1062

Re: How to Undo Backdoor Roth Completely

ps: I'm several years retired and intend to keep my 401k for the duration, because of the much superior ERISA asset protection compared to IRAs. Similar me. In fact, I rolled my tIRA into my 403(b) plan from my former employer last year so that I could do a $6500 backdoor Roth contribution from par...
by The Wizard
Sat Aug 19, 2017 9:33 am
Forum: Personal Consumer Issues
Topic: Help with overanalyzing purchases
Replies: 17
Views: 1184

Re: Help with overanalyzing purchases

It's not that hard. You need methods. I decided to buy a rice cooker a while back. I checked reviews on amazon.com and bought a nice one. It works. I will need a guidebook for Madrid, Spain soon. I'll use the same method for that. Deciding where to go for my next scuba diving trip needs a different ...
by The Wizard
Sat Aug 19, 2017 8:50 am
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 97
Views: 5688

Re: What is Bitcoin?

I misspoke in an earlier post.
I should have inquired on how Bitcoin is a Greater Fool scheme, not a Ponzi scheme.
The two are different...
by The Wizard
Sat Aug 19, 2017 7:24 am
Forum: Personal Finance (Not Investing)
Topic: How to Undo Backdoor Roth Completely
Replies: 10
Views: 1062

Re: How to Undo Backdoor Roth Completely

You could do as you say.
Might be better to just leave the $5500 in that non-deductible tIRA.
Then roll your 401(k) to a separate (deductible) tIRA. Later open a new 401(k) at new employer and roll the deductible tIRA into that...
by The Wizard
Fri Aug 18, 2017 8:21 pm
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 97
Views: 5688

Re: What is Bitcoin?

Phineas J. Whoopee wrote:
Fri Aug 18, 2017 8:13 pm

Will you sell me an apple for 50 cents? If so, you think the apple is worth less, and I think it's worth more.
No.
I only have tulip bulbs for sale.
You will pay me $10 for five of them and thank me in future years for the offer...
by The Wizard
Fri Aug 18, 2017 7:16 pm
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 97
Views: 5688

Re: What is Bitcoin?

abuss368 wrote:
Fri Aug 18, 2017 7:13 pm
I simply know of it as a digital currency and possible speculative investment. That is the extent of my knowledge. I have read many articles in the Wall Street Journal as I guess many criminals are using this new digital currency to move "money".

Best.
Criminals... gotcha...
by The Wizard
Fri Aug 18, 2017 7:12 pm
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 97
Views: 5688

Re: What is Bitcoin?

I won't buy Bitcoin for the same reason I won't buy gold -- it does not produce anything of value (i.e., cash flows, dividends, interests in an underlying business, etc.). Digital currencies might not be going away, but I won't be buying Bitcoin. In addition to not understanding it, Bitcoin does no...
by The Wizard
Fri Aug 18, 2017 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage Considerations
Replies: 57
Views: 4169

Re: Reverse Mortgage Considerations

Alrighty, so the follow-up question arises: how much is the effective APR for the $50,000 loan I mentioned, and is it significantly less than what I would pay on my HELOC with zero application/origination fees, not $125? There are various options for financial flexibility in retirement. Can't look ...
by The Wizard
Fri Aug 18, 2017 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: RMD taxation taken in December
Replies: 12
Views: 1018

Re: RMD taxation taken in December

Incorrect.
You need to have WITHHOLDINGS of a certain amount to avoid penalties.
Simply taking your RMD just adds to your AGI...
by The Wizard
Fri Aug 18, 2017 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional Annuity as sole fixed income component
Replies: 84
Views: 8798

Re: TIAA Traditional Annuity as sole fixed income component

I wonder it those who have TIAA trad Annuity can post the features of this-their annuity. Also please post your age at inception, current age, and first age of taking withdrawals. Please :mrgreen: . Not quite sure what you are asking. I've had a percentage of my TIAA portfolio in Trad since age 23....
by The Wizard
Fri Aug 18, 2017 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking further Roth IRA explanation.
Replies: 17
Views: 967

Re: Seeking further Roth IRA explanation.

The funds that require 3,000 min for example, how are they better per say than one which costs 1000? Basically what makes it worthwhile to invest 3,000 instead of 1,000? Better return, dividends? They're not really significantly better. Vanguard simply lowered the barrier on certain balanced funds ...
by The Wizard
Fri Aug 18, 2017 4:30 pm
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 97
Views: 5688

Re: What is Bitcoin?

Does Bitcoin pay dividends?
If not, then why not?
by The Wizard
Fri Aug 18, 2017 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional Annuity as sole fixed income component
Replies: 84
Views: 8798

Re: TIAA Traditional Annuity as sole fixed income component

Thus, the idea would be to find a bond fund that (a) has an expected return higher than TRAD (as, otherwise, why own it at all vs TRAD with "zero" risk), and (b) is largely uncorrelated with the stock/equity portion of one's portfolio (otherwise, doesn't increase risk-adjusted-return). One would th...
by The Wizard
Fri Aug 18, 2017 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage Considerations
Replies: 57
Views: 4169

Re: Reverse Mortgage Considerations

It seems that once you DRAW on the line of credit, there are fees to be paid. Right? There's just no possible way it's a loan with zero costs until the house is sold. Those costs would be "interest". Are we saying there's no interest with a HECM? I pay the $125 to open the HECM. Then a while later ...
by The Wizard
Fri Aug 18, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage Considerations
Replies: 57
Views: 4169

Re: Reverse Mortgage Considerations

It seems that once you DRAW on the line of credit, there are fees to be paid. Right? There's just no possible way it's a loan with zero costs until the house is sold. Those costs would be "interest". Are we saying there's no interest with a HECM? I pay the $125 to open the HECM. Then a while later ...
by The Wizard
Fri Aug 18, 2017 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 178
Views: 13912

Re: Lost $7000 today in ONE DAY!

WhiteMaxima wrote:
Fri Aug 18, 2017 11:11 am
It's just paper worth. If you have cash on the side, any big drop is a buying opportunity.
Buying on the dips, yes...
by The Wizard
Fri Aug 18, 2017 11:08 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 178
Views: 13912

Re: Lost $7000 today in ONE DAY!

...But you mention a drop of $100k in a day or over a few days. The problem with this is when I think about what I have to do to earn $100k in my place of work, it makes me go crazy. I mean you have no idea how much stress and what I personally have to go through to save $100k. It's not clear to me...
by The Wizard
Fri Aug 18, 2017 10:40 am
Forum: Investing - Theory, News & General
Topic: USAA Closing my Roth - Question on Account Closing Fee
Replies: 10
Views: 1424

Re: USAA Closing my Roth - Question on Account Closing Fee

I highly suspect they will just eat your $10 and that will be that...
by The Wizard
Fri Aug 18, 2017 10:37 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 178
Views: 13912

Re: Lost $7000 today in ONE DAY!

Tax loss harvesting is not an option unless your cost basis is higher than your current value in a given position held in a taxable account. A 2% drop in one day does not necessarily erase all previous profits. Most financial advisers would likely advise investors to ignore geopolitical events IMO....
by The Wizard
Fri Aug 18, 2017 10:30 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 178
Views: 13912

Re: Lost $7000 today in ONE DAY!

The most I've lost in one day in the past 12 months was $124,709 on June 9th, 2017. I don't even remember that. You claim you "don't even remember that" and yet you are able to quote the date, and amount, even down to the dollar? He said he had a spreadsheet of his Investments. There are functions ...
by The Wizard
Fri Aug 18, 2017 9:46 am
Forum: Personal Finance (Not Investing)
Topic: How does one determine their "number" and what exactly does it mean?
Replies: 116
Views: 10371

Re: How does one determine their "number" and what exactly does it mean?

Annual spending today + 50% buffer, that is if annual spending is 100% I then add an additional 50% to that number. That additional 50% is meant to include taxes and the real wildcard, healthcare/prescription costs... The issue of income taxes raises a good point. When computing my annual expenses,...
by The Wizard
Fri Aug 18, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: How does one determine their "number" and what exactly does it mean?
Replies: 116
Views: 10371

Re: How does one determine their "number" and what exactly does it mean?

Grt2bOutdoors wrote:
Fri Aug 18, 2017 8:07 am
... Since most folks tend to have much higher expenses than $45K per year, I think most folks will want to have a job of some sort unless they have a far larger portfolio...
My SS payment at age 70 would cover much of that $45k per year.
You may have forgotten to include yours...
by The Wizard
Fri Aug 18, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: How does one determine their "number" and what exactly does it mean?
Replies: 116
Views: 10371

Re: How does one determine their "number" and what exactly does it mean?

...I also still have a mortgage and pay a little extra each month. So, I target my retirement spending number on whatever I am spending now. I have this annual figure for the past few years and keep a watch on it. I'd like to retire early and if I do will likely pay off the mortgage before or soon ...
by The Wizard
Fri Aug 18, 2017 7:08 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 178
Views: 13912

Re: Lost $7000 today in ONE DAY!

cherijoh wrote:
Fri Aug 18, 2017 7:01 am
pkcrafter wrote:
Thu Aug 17, 2017 8:54 pm
What, did something happen?

Paul
+1
Paul you are a true Boglehead! :happy
Perhaps.
But if he wants to learn to tax loss harvest in his taxable account, he's gonna have to monitor things better...
by The Wizard
Fri Aug 18, 2017 7:01 am
Forum: Investing - Theory, News & General
Topic: Depositing checks by uploading image from computer?
Replies: 10
Views: 972

Re: Depositing checks by uploading image from computer?

I've been depositing the few checks I get in recent years via my credit union's smartphone app.
Early on, I recall depositing one using my desktop PC with flatbed scanner but it took longer. No idea if my CU still supports that method...