Search found 3877 matches

by TropikThunder
Sat Mar 16, 2024 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Student loan "refinance" with credit card balance balance transfer?
Replies: 15
Views: 817

Re: Student loan "refinance" with credit card balance balance transfer?

tashnewbie wrote: Fri Mar 15, 2024 3:45 pm Having the student loan is actually probably a net positive for your credit score because it is revolving credit
Loans are installment credit, not revolving credit.
by TropikThunder
Fri Mar 15, 2024 12:08 am
Forum: Personal Investments
Topic: Revocable Trusts and I Bonds
Replies: 4
Views: 1099

Re: Revocable Trusts and I Bonds

billf wrote: Thu Mar 14, 2024 1:43 pm Follow-up question on this rather old OP...

Now that I have both an individual and a trust account (under the same tax ID), can I do the following:
  • Buy $10K in my trust account
  • Buy $10K in my individual account
  • The next day, transfer $10K from my individual account to my trust account?
Why?
by TropikThunder
Thu Mar 07, 2024 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Transfer Car ownership to daughter or not?
Replies: 41
Views: 4952

Re: Transfer Car ownership to daughter or not?

If the car is intended to be a gift to your adult child, then I would complete the transfer. I understand young folks these days may need economic assistance from their parents after graduation but owning a 6-7 year old car and paying the tax and insurance is a great way to start to adult. Under very, very few circumstances would I carry an adult college graduate on my own auto insurance. Old thread, I know, but I did transfer ownership of the cars to my college senior daughter, but our insurance policy has me as primary and she and rest of family as other insured. My understanding is that liability follows car ownership, not the insurance policy.... A lot of that depends on whether she is still considered a member of your household (plus ...
by TropikThunder
Wed Feb 28, 2024 9:25 am
Forum: Investing - Theory, News & General
Topic: Do cap-weighted funds strictly align with BH philosophy?
Replies: 118
Views: 8895

Re: Do cap-weighted funds strictly align with BH philosophy?

thatbrian wrote: Wed Feb 28, 2024 12:34 am so when it does soar, you won't have been invested in it properly until *after* it does.
That’s completely opposite of how it works. I’m buying the next Apple or Tesla now, I just don’t know what it’s called. When it booms, I’ll already own it, having paid its share price when it was only a minnow.

I think this is another example of a fundamental misunderstanding of how an index fund works. If a stock increases its market share, the fund doesn't need to buy any more of it to maintain weighting. If you’d rather wait until a stock explodes in price to buy it, go for it.
by TropikThunder
Wed Feb 28, 2024 9:20 am
Forum: Personal Investments
Topic: Has anyone invested in marijuana stocks?
Replies: 92
Views: 12454

Re: Has anyone invested in marijuana stocks?

Jeepergeo wrote: Wed Feb 21, 2024 7:54 pm Legal does not equate to moral. So no, I have not invested in them.
But alcohol, tobacco and guns are fine?
by TropikThunder
Wed Feb 14, 2024 11:05 pm
Forum: Investing - Theory, News & General
Topic: Any studies to refute dividend yield & chill?
Replies: 161
Views: 12092

Re: Any studies to refute dividend yield & chill?

gt4715b wrote: Wed Feb 14, 2024 9:05 pm I'm looking for papers that have looked specifically into SWRs in the context of an stock dividend, income-focused portfolio.
Are they any to support it?
by TropikThunder
Mon Feb 12, 2024 9:49 pm
Forum: Personal Investments
Topic: should i pay off a car at 1.9% or invest in a cd at 5.5%
Replies: 67
Views: 6280

Re: should i pay off a car at 1.9% or invest in a cd at 5.5%

Squirrel208 wrote: Mon Feb 12, 2024 8:21 pm
KDM302a1 wrote: Mon Feb 12, 2024 7:09 pm Car is a 21 with 30k miles on it and I still owe $17k @ 1.9%. I can pay it off but thought it better to put in a 5.5%cd. Thoughts?
Wealthy people don't get that way by financing the purchase of depreciating assets. <shrugs>
They do when they can make more investing the money they would have used on the car. Are you anti-mortgage too?
by TropikThunder
Fri Feb 09, 2024 2:21 pm
Forum: Personal Investments
Topic: Why BlackRock not used as much?
Replies: 45
Views: 5376

Re: Why BlackRock not used as much?

mikejuss wrote: Fri Feb 09, 2024 2:17 pm Probably because their fees are prohibitive.
Are Vanguard’s fees prohibitive? The iShares S&P500 ETF (IVV) has an ER of 0.03%, same as VOO.
by TropikThunder
Fri Feb 09, 2024 2:19 pm
Forum: Personal Investments
Topic: Why BlackRock not used as much?
Replies: 45
Views: 5376

Re: Why BlackRock not used as much?

familythriftmd wrote: Fri Feb 09, 2024 2:16 pm I know that BlackRock has the honor of having greater asset load than any other firm. So why are we not talking about/using it as much as Vanguard, Fidelity, Schwab, etc.? Is it not consumer-facing or something?
Blackrock isn’t a brokerage so you can’t buy any of their funds directly from them.
by TropikThunder
Fri Feb 02, 2024 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Spending--EOBs Suffcient for IRS??
Replies: 19
Views: 2026

Re: HSA Spending--EOBs Suffcient for IRS??

hamhocs wrote: Fri Feb 02, 2024 10:54 am
TropikThunder wrote: Thu Feb 01, 2024 7:00 pm
cowdogman wrote: Thu Feb 01, 2024 5:56 pm My question: Are insurance company EOBs sufficient proof for the IRS of medical and Rx expenses?
I would think no. The EOB will show what you owed, not what you paid.
Agree with this. You could have been reimbursed with FSA or Insurance Rewards. My hospital also gives a discount for paying in full. I do keep all EOBs and card statements. I also have a spreadsheet that tracks everything and accounts for expenses and what I actually paid. Also factors in mileage to/from doctors offices.
Also, it’s not uncommon for EOB’s to be revised and have little resemblance to what someone actually ends up paying (like if the wrong billing codes were submitted). There’s a reason they’re all stamped with “this is not a bill”.
by TropikThunder
Thu Feb 01, 2024 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Spending--EOBs Suffcient for IRS??
Replies: 19
Views: 2026

Re: HSA Spending--EOBs Suffcient for IRS??

cowdogman wrote: Thu Feb 01, 2024 5:56 pm My question: Are insurance company EOBs sufficient proof for the IRS of medical and Rx expenses?
I would think no. The EOB will show what you owed, not what you paid.
by TropikThunder
Thu Feb 01, 2024 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: HSA overcontribution > How do I fix this?
Replies: 14
Views: 1414

Re: HSA overcontribution > How do I fix this?

peterw wrote: Tue Jan 30, 2024 6:42 pm 4. I know the $76 will be considered additional taxable income. How about the $888 I contributed to the Fidelity HSA from my after-tax brokerage account? Will that be taxable also?
The $888 that you contributed from your brokerage isn’t taxable income, it’s just not deductible for 2023. The earnings on that $888 will be taxable income for 2024, reported in 2025.
by TropikThunder
Mon Jan 15, 2024 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: How much can I contribute to HSA? - slight twist
Replies: 3
Views: 428

Re: How much can I contribute to HSA? - slight twist

dundee wrote: Mon Jan 15, 2024 4:23 pm Question - Can I still contribute the max possible HSA for family coverage? That amount is $9300 (or $10,300 after April)? or am I limited to $4150 since my wife has her own insurance also?
Her other medical coverage does not affect your HSA eligibility, so you can do the full family limit + catch-up.
by TropikThunder
Mon Jan 15, 2024 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Tap Roth account for home downpayment?
Replies: 15
Views: 1541

Re: Tap Roth account for home downpayment?

ThankYouJack wrote: Mon Jan 15, 2024 6:08 am I'm still adding significant contributions
Then you can afford to pay back a 401k loan, and/or quickly pay of a small mortgage. IMO that argues even more towards leaving the Roth money where it is.
by TropikThunder
Mon Jan 15, 2024 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Tap Roth account for home downpayment?
Replies: 15
Views: 1541

Re: Tap Roth account for home downpayment?

stan1 wrote: Mon Jan 15, 2024 9:35 am I'd take a 401K loan (repaid in 12-24 months) before I withdrew from a Roth IRA.
As controversial as 401k loans are here, I’d do the same. At least with a 401k loan you can put the money back. That and the negative aspects of 401k loans that people bring up here are almost hysterically overblown (and no longer even true given the TCJA changes).
by TropikThunder
Sun Jan 14, 2024 12:28 pm
Forum: Personal Investments
Topic: Advice for 80yr Grandma w/ 95% AT&T Stock Portfolio
Replies: 91
Views: 11341

Re: Advice for 80yr Grandma w/ 95% AT&T Stock Portfolio

What I don’t know: 5 Should the at&t stock be sold only a little each year to minimize taxes? Depends on the answers to #1 and what retired@50 said. If it’s in an IRA, then no tax consequences of selling, only for withdrawing. If it’s in a taxable brokerage, then it depends on what kind of step up basis occurred which depends on (a) how the stock was owned (joint or individual), and (b) where she lives (community property or not). If step up is correct (and depending on how long ago he died), and the stock has stumbled recently, it’s entirely possible she can sell a big chunk of it and diversify with no tax consequence. My first choice for an 80-year old with several million dollars would be a retirement income fund like what all the T...
by TropikThunder
Fri Jan 12, 2024 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Employer recoup HSA funds
Replies: 15
Views: 1660

Re: Employer recoup HSA funds

LotsaGray wrote: Thu Jan 11, 2024 11:26 pm
peteyboy wrote: Thu Jan 11, 2024 12:56 pm Think about it this way...they can deposit pay into your checking account but they can't withdraw from it.
They most certainly can withdraw from your checking account if they make an error and over pay you.
Yes, they can claw back payroll. The difference with payroll though is that when you sign up for direct deposit, you given them *permission* to withdraw deposits made in error. There’s no such clause in signing up for an HSA.
by TropikThunder
Thu Dec 28, 2023 11:16 am
Forum: Personal Finance (Not Investing)
Topic: $700k Tax Bill
Replies: 80
Views: 17158

Re: $700k Tax Bill

Jack FFR1846 wrote: Thu Dec 28, 2023 11:09 am Buy a vehicle that's over 6000 pounds and only drive it for business. You can depreciate it $25,000 a year. Here's a list of vehicles: https://www.taxfyle.com/blog/list-of-ve ... r-6000-lbs

Keep your present car for personal travel.
Good plan. That’ll drop his tax bill all the way down to, what, $690k?
by TropikThunder
Tue Dec 26, 2023 12:34 pm
Forum: Personal Investments
Topic: I am stuck with Fidelity Zero in brokage account with over 1.2M and 50% gain.
Replies: 76
Views: 13973

Re: I am stuck with Fidelity Zero in brokage account with over 1.2M and 50% gain.

Vanguard User wrote: Tue Dec 26, 2023 12:16 am I have FZROX for my Roth IRA on 100%.
That’s a totally different situation since there’s no tax due if you sell in an IRA.
by TropikThunder
Fri Dec 22, 2023 12:50 am
Forum: Investing - Theory, News & General
Topic: Taxable accounts more tax-friendly at withdrawal time?
Replies: 56
Views: 26223

Re: Taxable accounts more tax-friendly at withdrawal time?

Florida Orange wrote: Thu Dec 21, 2023 1:25 pm
TropikThunder wrote: Tue Dec 19, 2023 11:16 pm Right on cue! But is $1.00 in a Roth better than $1.25 or $1.50 in traditional? That’s the more accurate comparison for a lot of people.
It depends on your tax bracket.
That’s my point. But the comment about a dollar in a Roth being better is misleading because it ignores how that dollar got there. In the same vein, a pizza that got delivered is generally better than a pizza you had to go pick up, if you get to ignore the delivery fee.

I don’t expect to change anyone’s mind though.
by TropikThunder
Tue Dec 19, 2023 11:16 pm
Forum: Investing - Theory, News & General
Topic: Taxable accounts more tax-friendly at withdrawal time?
Replies: 56
Views: 26223

Re: Taxable accounts more tax-friendly at withdrawal time?

Don't forget about the taxes paid or not paid when the money went into the account. Exactly!! I don’t get why people bring up questions like this and totally ignore the tax situation at the contribution end. It costs $1 of income to put $1 into a traditional 401k/IRA/HSA but it costs more than $1 of income to put $1 into a Roth or taxable account, upwards of $1.50 in some cases. And yet you still get people mindlessly saying “a dollar in a Roth is worth more than a dollar in traditional”. As a general rule, a dollar in a Roth IRA is better than a dollar in a taxable account which is better than a dollar in a traditional IRA. Right on cue! But is $1.00 in a Roth better than $1.25 or $1.50 in traditional? That’s the more accurate comparison ...
by TropikThunder
Tue Dec 19, 2023 12:51 pm
Forum: Personal Investments
Topic: Employer Post Tax Contributions to 403b
Replies: 13
Views: 1142

Re: Employer Post Tax Contributions to 403b

dan7800 wrote: Tue Dec 19, 2023 11:50 am Upon recently reviewing my paystub, I realized that my employer was making post-tax contributions to my 403b after I hit the 22,500 limit this year.
Just to be clear the employer is not making the contributions (as it if were a match). The employer is processing employee contributions into the after-tax, non-Roth account. The OP is written as if it’s employER funds rather than employEE funds but I’m not saying OP thinks that.
by TropikThunder
Thu Dec 07, 2023 12:23 am
Forum: Personal Finance (Not Investing)
Topic: How to tax deduct upcoming losses in Roth IRA: Brilliant?
Replies: 53
Views: 7549

Re: How to tax deduct upcoming losses in Roth IRA: Brilliant?

calmaniac wrote: Wed Dec 06, 2023 8:49 pm From my viewpoint, you've taken a loss in shares of VTI in your Roth IRA account, which is not eligible to use as a loss to use against capital gains. Nothing you've proposed is going to mitigate that loss.
No no, he’ll make the withdrawal before VTI drops. Then when it drops in taxable, he’ll book the loss and move the money (plus idle cash to offset the loss) back to the Roth.

I’m just waiting for OP to come back and say he was kidding and that he’s surprised anyone took it seriously. 🤷‍♂️
by TropikThunder
Wed Dec 06, 2023 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: How to tax deduct upcoming losses in Roth IRA: Brilliant?
Replies: 53
Views: 7549

Re: How to tax deduct upcoming losses in Roth IRA: Brilliant?

Yeah all you need to do is identify a time in advance when it’s going to drop by enough to make it worthwhile. Easy peasy.
by TropikThunder
Wed Dec 06, 2023 2:16 pm
Forum: Personal Investments
Topic: HSA - HealthEquity & Fidelity 2023/2024
Replies: 6
Views: 856

Re: HSA - HealthEquity & Fidelity 2023/2024

If these excess funds hit Fidelity before 2024 (they probably will), can I designate that it's for 2024 on the Fidelity side? Strictly, speaking you can't re-designate a 2023 HSA contribution for 2024. You can make 2023 contributions up to the filing deadline in 2024 but there's no direct mechanism to go the other direction. However, there is a way you can effectively move the 2023 overage to 2024 in two steps. 1. Leave everything as it is (including moving it to Fidelity), and don't try to remove the excess. File Form 5329 Additional Taxes on Qualified Plans for 2023, which will determine the overage and calculate the excise tax (6%). If your $1,000 estimate is accurate, the tax due with your 2023 return will be $60. 2. Reduce your HSA co...
by TropikThunder
Wed Dec 06, 2023 2:00 pm
Forum: Personal Investments
Topic: HSA - HealthEquity & Fidelity 2023/2024
Replies: 6
Views: 856

Re: HSA - HealthEquity & Fidelity 2023/2024

hmrambling wrote: Wed Dec 06, 2023 11:43 am Alternatively, my wife also has an HSA. Can I keep the excess as-is and say that the excess goes toward the family amount allowed? My wife has not maxed out her 2023 HSA.
To clarify, both you and your wife have single HDHP coverage, both have eligible HSA’s, and while *your* HSA is maxed out, hers is not?

I believe that when two spouses each have single HDHP coverage, then both are limited to the single HSA contribution limit since there is no “family” coverage on either side. You can only share the family limit when both spouses have family coverage.

That said, are you over 55? There’s a +$1,000 max for that.
by TropikThunder
Mon Dec 04, 2023 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Can you give stock to younger kid who has no income to save taxes
Replies: 32
Views: 3887

Re: Can you give stock to younger kid who has no income to save taxes

Did I miss the part where OP says how old the daughter is? Everyone is assuming she’s a minor dependent child but nowhere has OP stated that (although some posts have been edited). “Daughter” could just as easily mean “adult daughter”.
by TropikThunder
Fri Nov 17, 2023 9:37 pm
Forum: Personal Investments
Topic: Backdoor Roth on Vanguard
Replies: 11
Views: 1691

Re: Backdoor Roth on Vanguard

Wouldn't you want to convert ALL shares (or ALL dollars, for that matter) if you intend to do the backdoor Roth process in subsequent years? Why would you want to leave a balance in your traditional IRA and subject future conversions to the pro rata rule? No hurry to convert. There is an advantage in keeping the t-IRA fund "alive": reopening it is subject to a minimum initial investment. Pro-rata rule does not generate any real tax load . A dollar here, a dollar there, and sometimes a tax deduction, when you account for Federal and state taxes. Well, if you're fine with leaving some of the tIRA funds where they are, then I don't see why this: the amount converted would have been subject to next day closing price. would be a big d...
by TropikThunder
Wed Nov 08, 2023 10:46 pm
Forum: Personal Investments
Topic: Problem with Fidelity, or am I expecting too much?
Replies: 45
Views: 5955

Re: Problem with Fidelity, or am I expecting too much?

This is NOT TRUE. 8606 is absolutely required and relevant. All gains on the withdrawal are taxed. Sorry but your are not correct in this scenario. Your scenario was different because of your existing tIRA balances. OP is not doing a conversion (see my prior comment just above). The entire account balance is taxed on withdrawal as reported on the 1099R generated when the money leaves the 401k. Form 8606 is to report and track non-deductible contributions . OP’s contributions were deducted , which is why they are taxable on withdrawal. Form 8606 is not relevant. Not until I had converted all my tIRA funds and ended a tax year with $0 in all tIRA account did I finally move 401k money to tIRA. Again, OP is not doing a conversion, they are doi...
by TropikThunder
Wed Nov 08, 2023 10:40 pm
Forum: Personal Investments
Topic: Problem with Fidelity, or am I expecting too much?
Replies: 45
Views: 5955

Re: Problem with Fidelity, or am I expecting too much?

Doesn't a conversion of a pre-tax contribution in a Traditional 401K to a Roth IRA (or 401K), trigger an 8606? I checked on TurboTax HERE and it says this: We'll automatically generate and fill out Form 8606 (Nondeductible IRAs) if you reported any of these on your tax return: Nondeductible contributions made to a traditional IRA Distributions from a traditional, SEP, or SIMPLE IRA that had nondeductible contributions (excluding rollovers, conversions, recharacterizations, qualified charitable distributions, one-time distribution to fund an HSA, or return of certain contributions) Conversions from a traditional, SEP, or SIMPLE IRA to a Roth IRA Distributions from a Roth IRA (other than rollovers, recharacterizations, or a return of certain...
by TropikThunder
Wed Nov 08, 2023 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Boy meets HSA girl... classic story...
Replies: 34
Views: 4856

Re: FSA Boy meets HSA girl... classic story...

SpookyKG wrote: Wed Nov 08, 2023 1:23 pm Tropik - this is super helpful. Theoretically (I bolded your most relevant point) it seems that if we get married after Dec 1 and before the end of the year we would have no problem with her HSA (my FSA is totally spent), and would be able to file jointly for the entire year... best of both worlds (if there is a financial benefit to filing as a married couple, which I can calculate). Is that right?
That's how I understand it, yes.
by TropikThunder
Wed Nov 08, 2023 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Boy meets HSA girl... classic story...
Replies: 34
Views: 4856

Re: FSA Boy meets HSA girl... classic story...

toddthebod wrote: Tue Nov 07, 2023 4:46 pm Does it matter that it's employer funded? Everything I've read says you can't contribute to an HSA if you have an FSA.
No, an ineligible individual can't get HSA contributions made on their behalf, either.
by TropikThunder
Wed Nov 08, 2023 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Boy meets HSA girl... classic story...
Replies: 34
Views: 4856

Re: FSA Boy meets HSA girl... classic story...

There's a lot of misinformation and bad advice in this thread. :( It's come to my attention that if you are married, if one partner has an FSA (Flexible Spending Account), it means the other partner CANNOT save in an HSA. I've reviewed some other posts on the topic: https://www.bogleheads.org/forum/viewtopic.php?t=205699 This is correct. If Spouse 1 has a general purpose FSA (medical, dental, vision), then Spouse 2 is ineligible to contribute to an HSA. This is due to two things: (1) FSA funds can automatically be used on spouses and dependents, which results in (2) the spouse having "other health coverage", which is not allowed as far as contributions are concerned. Spouse 2 can keep their existing HSA and spend the money in it, ...
by TropikThunder
Wed Nov 08, 2023 12:20 pm
Forum: Personal Investments
Topic: Problem with Fidelity, or am I expecting too much?
Replies: 45
Views: 5955

Re: Problem with Fidelity, or am I expecting too much?

bubblepuppy wrote: Tue Nov 07, 2023 9:53 pm A follow up question regarding the IRS Form 8606, Nondeductible IRAs. Is this something that TurboTax generates automatically or is it something you have to fill out yourself?
An 8606 also isn’t relevant because your contributions have already been deducted when they went into the 401k.
by TropikThunder
Wed Nov 08, 2023 11:15 am
Forum: Personal Investments
Topic: No more lump sums for me!
Replies: 83
Views: 11110

Re: No more lump sums for me!

meadowrue wrote: Thu Oct 05, 2023 5:53 pm Silver lining for me is the DCA into my 401K. At least I know I get to buy both during the highs and the lows. Anyone else regret lump sum investing?
That’s not just a silver lining for me, that’s my whole strategy. I DCA into my traditional 401k. I lump sum into my Roth IRA and my HSA. I like the tax diversification and it definitely reduces “timing regret”.
by TropikThunder
Sun Nov 05, 2023 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a 120k car... yes, I need your help
Replies: 275
Views: 33138

Re: Buying a 120k car... yes, I need your help

My advice: don’t ask a car question on Bogleheads. The only approved vehicle choices are a used Toyota Camry or Honda Accord, preferably early 2000’s with over 100,000 miles.

Anything more extravagant and you’re doomed to homelessness and cat food.
by TropikThunder
Thu Nov 02, 2023 3:04 pm
Forum: Personal Investments
Topic: Timing of placing bids for treasury note auctions
Replies: 3
Views: 536

Re: Timing of placing bids for treasury note auctions

Since you are placing non-competitive orders for treasuries whether you place bids early or later in the open bidding period won't impact the price/rate you receive. Be aware that Schwab, and other brokerages as well, will have their own earlier cut-off time for treasury auction orders that can be surprisingly earlier (maybe as early as the close of prior trading day) than the actual time of the auction. So if you want to place an order I'd do it on the early side so you don't forget or run into un-correctable complications (like not having enough cash correctly in the settlement account if its a non-margin account). Thank you! Will place order today... Yeah I was going to buy some 17-week ones yesterday (01 Nov) but I forgot the cutoff ti...
by TropikThunder
Thu Nov 02, 2023 2:39 pm
Forum: Investing - Theory, News & General
Topic: Can vanguard force transition to brokerage platform?
Replies: 207
Views: 30861

Re: Can vanguard force transition to brokerage platform?

Nate79 wrote: Wed Nov 01, 2023 8:09 pm While it is commonly said on BH that they can't, I believe there are ways if they really want to. Tell the TD America customers who got forced transitioned to the Schwab platform that this isn't possible. No consent needed.
I see it as a self-resolving issue anyway, considering new customers haven't been allowed to open legacy accounts for what, 10-15 years now?

(except for those in the financial industry who can't have a Vanguard brokerage account)
by TropikThunder
Thu Nov 02, 2023 2:38 pm
Forum: Investing - Theory, News & General
Topic: Can vanguard force transition to brokerage platform?
Replies: 207
Views: 30861

Re: Can vanguard force transition to brokerage platform?

aristotelian wrote: Thu Nov 02, 2023 12:27 pm Have you noticed them charging any fees? My mom was a long time holdout. I know they wore her down somehow, I believe by charging a monthly or annual fee.
I know there have been several threads about the per-account fees on the legacy platform not being waived by using electronic statements. And they can add up considering each mutual fund holding is its own "account".
by TropikThunder
Sat Oct 28, 2023 1:48 am
Forum: Personal Finance (Not Investing)
Topic: severance package negotiating
Replies: 46
Views: 6546

Re: severance packaging negotiating

Dottie57 wrote: Fri Oct 27, 2023 1:54 pm
pizzy wrote: Fri Oct 27, 2023 11:16 am People get severance when they quit/retire?
My employer wanted younger people in software development, so they offered those with 10+ years at the employer and over 50 a sweet deal to leave. Lots left. Me too.
That’s completely different though. In your situation, the employer wanted people to leave, and incentivized them to do so. In OP’s case, they just don’t like the new ownership structure and want to leave of their own volition.
by TropikThunder
Fri Oct 27, 2023 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: severance package negotiating
Replies: 46
Views: 6546

Re: severance packaging negotiating

jebmke wrote: Fri Oct 27, 2023 11:33 am
pizzy wrote: Fri Oct 27, 2023 11:18 am
jebmke wrote: Fri Oct 27, 2023 11:17 am
pizzy wrote: Fri Oct 27, 2023 11:16 am People get severance when they quit/retire?
if you play your hand correctly, yes. Very situation specific.
Interesting. I assume "situation specific" when it's resign/retire in lieu of termination.
not always
Why are you being so cryptic? If someone wants to quit because of an ownership change, I can’t see why the new owners would reward them on the way out.
by TropikThunder
Fri Oct 27, 2023 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: severance package negotiating
Replies: 46
Views: 6546

Re: severance packaging negotiating

wwhan wrote: Fri Oct 27, 2023 11:51 am Part of my retirement/layoff package was a stipulation not to work for a competitor for 2 years to retain my RSU stock options.
Well sure, part of your “retirement/layoff package”. There’s nothing in OP’s post about potential layoffs. They just don’t want to keep working there.
by TropikThunder
Mon Oct 23, 2023 10:28 am
Forum: Investing - Theory, News & General
Topic: Frec - Low Cost (0.10%) S&P500 Direct Indexing Startup
Replies: 30
Views: 5420

Re: Frec - Low Cost (0.10%) S&P500 Direct Indexing Startup

Maybe I’m just unsophisticated? But whenever I see new shiny investment offerings, I’m reminded that they created it to make them money, not to make you money.
by TropikThunder
Sat Oct 21, 2023 11:50 pm
Forum: Investing - Theory, News & General
Topic: Investing 100% into TQQQ
Replies: 231
Views: 36281

Re: Investing 100% into TQQQ

Without addressing the rest, I note that TQQQ says it's not designed for use as a long term investment (https://www.proshares.com/our-etfs/leveraged-and-inverse/tqqq): Important Considerations This leveraged ProShares ETF seeks a return that is 3x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. Due to the compounding of daily returns, holding periods of greater than one day can result in returns that are significantly different than the target return, and ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. These effects may be more pronounced in funds with larger or inverse multi...
by TropikThunder
Tue Oct 10, 2023 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Selling son's house if he abandons it
Replies: 36
Views: 7175

Re: Selling son's house if he abandons it

I don't want the equity in the house to be lost and want to recover what there is as soon as possible in the event he flees. Some of it is mine, as I've been helping with mortgage payments but that's not my main concern. Simplest thing would be to have the authority to sell his house for him with no protracted financial complications. I'd hold his equity from the sale for him or for his needs. Three people have asked if you have any ownership interest or if you’re on the mortgage. That’s critical information to get good answers. If the answer to both is no, then there’s really no role for you to play here unless he gives you a role. You can keep making the mortgage payments if he bails, but you can’t sell it if he doesn’t agree to it.
by TropikThunder
Mon Oct 09, 2023 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Should I incorporate for my trading activities?
Replies: 4
Views: 699

Re: Should I incorporate for my trading activities?

whohasaquestion wrote: Mon Oct 09, 2023 9:47 am I plan to make trading an even bigger part of my daily activities.
Do you have another job as well? The bar to be considered a trader rather than an investor is pretty high
If the nature of your trading activities doesn't qualify as a business, you're considered an investor and not a trader. It doesn't matter whether you call yourself a trader or a day trader, you're an investor.
https://www.irs.gov/taxtopics/tc429
whohasaquestion wrote: Mon Oct 09, 2023 9:47 am I mainly trade in taxable, rollover IRA, and Roth IRA accounts.
The IRA part is irrelevant. You can’t claim any losses in a tax-advantaged account.
by TropikThunder
Mon Oct 02, 2023 2:25 am
Forum: Personal Investments
Topic: -----
Replies: 35
Views: 4771

Re: I Bond cash out timing, just checking my math

I’m pretty sure I read that you lose the most recent 3 months of interest when you cash out within 5 years. So you don’t wanna cash out immediately when it becomes a lower interest. You wanna cash out after having that lower interest rate for 3 months. ^^^^ This is my understanding as well. Supported by this: https://keilfp.com/blogpodcast/when-to-cash-out-i-bonds/ Right, but it seems like Treasury Direct front-loads the penalty rather than takes it off the end at cash out. I purchased the bond on Feb 1 2022, and it didn't report any interest for Feb, March, or April. May was the first month anything accrued. So I'd expect if I cashed out I'd get the total I see in the account now. If they took the last 3 months of interest off, that'd be ...
by TropikThunder
Thu Sep 21, 2023 1:04 pm
Forum: Personal Investments
Topic: Maximum Contributions-401k
Replies: 5
Views: 906

Re: Maximum Contributions-401k

invincible_robo wrote: Thu Sep 21, 2023 12:55 pm Thank you. Expected Combined income- $300K.
Since my spouse deposited only 2000$ in 2023 at the start of the year from her previous employer. Her current employer not offering any 401K plan.
How she can contribute the remaining $20,500 to lower the tax?
Can she open a traditional IRA or brokerage IRA to deposit?
Once you leave an employer, you can no longer contribute to that employer’s 401k (but you can leave the money there). If her current employer does not have a 401k, then that space for 2023 is lost forever.

She can open a traditional IRA but at your combined income it won’t be deductible. And there’s no “brokerage IRA”, there are IRA’s (tax-advantaged) and brokerage accounts (not tax-advantaged).
by TropikThunder
Fri Sep 15, 2023 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Approaching mortgage lender to buy out loan?
Replies: 33
Views: 2724

Re: Approaching mortgage lender to buy out loan?

CascadiaSoonish wrote: Fri Sep 15, 2023 10:43 am Anyone had any luck negotiating a loan payoff & closeout with their bank at a discount? Seems like a win-win. Bank gets to take the low-value loan off their books, loan holder gets a discounted payoff based on the current market value of their loan.
Unless you’re one of the rare exceptions, Chase doesn’t still own your mortgage, they sold it within weeks after you closed. That’s how mortgages work in the US. Over 80% of residential mortgages are bought by either Fannie Mae or Freddi Mac to give the loan originators liquidity.
by TropikThunder
Sun Sep 03, 2023 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Please Advise me on a trust for my daughter so she won't have to pay taxes
Replies: 39
Views: 3781

Re: Please Advise me on a trust for my daughter so she won't have to pay taxes

oldguy wrote: Sat Sep 02, 2023 9:18 pm My daughter is married and has 1 child, hence my calculations that my wife and i could each give each of the three $17k or $102,000 per year (up to $12 million) before they would have to pay taxes on the money. That seems to be the case as i read it?
No, that’s not the case. As several previous posts have said, the recipient of a gift does not pay taxes. The estate does but only above the estate exclusion.

Plus, as several previous posts have said, you can’t gift money to the minor child and then have the parents use it.