Search found 216 matches

by lakpr
Sun Nov 12, 2017 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: What Credit Card is good for me?
Replies: 19
Views: 1254

Re: What Credit Card is good for me?

Not everyone has 100K$ to invest in Merrill Edge investment account. My household incone is approximately $175K and I consider myself middle class, but I dont have that much money that I can transfer.
by lakpr
Sun Nov 12, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: $30K loan for 12 months
Replies: 23
Views: 1451

Re: $30K loan for 12 months

Assuming you have excellent credit, and you don't already have it, I suggest that you apply for the Citi Simplicity card, they are still advertising 0% rate for 21 months on both purchases and balance transfers. Except that the balance transfer has an upfront fee of 3%. Citi will direct-deposit the ...
by lakpr
Sun Nov 12, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: How to make the most of remitting a large sum in foreign currency?
Replies: 5
Views: 410

Re: How to make the most of remitting a large sum in foreign currency?

I found Trans-fast to have the best exchange rates when sending money to India, even better than transfer-wise. The only constraint is that the per transfer limit is $3000 If you can stay within the limits while still managing to pay off your INR liabilities, I would simply set up a periodic transfe...
by lakpr
Sat Nov 11, 2017 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: What Credit Card is good for me?
Replies: 19
Views: 1254

Re: What Credit Card is good for me?

The OP might consider becoming a member of Pentagon Federal Credit Union (anyone can become a member by donating at least $17 to National Military Families Association), and open an "Access America" checking account. Then apply for one or more of their credit cards. The Platinum Rewards Visa gives y...
by lakpr
Wed Nov 08, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Eye Doctor $30 to get your Rx? Is this normal?
Replies: 78
Views: 5277

Re: Eye Doctor $30 to get your Rx? Is this normal?

It's not 100% clear to me exactly what the $30 charge was for, but if it was for a copy of the prescription, not only should an FTC complaint be made, it should also be reported to the appropriate state licensing board, the state attorney general's office or consumer protection bureau, and to the h...
by lakpr
Sat Nov 04, 2017 7:14 am
Forum: Personal Finance (Not Investing)
Topic: How to Tax Gain Harvest My Taxable Account
Replies: 23
Views: 2125

Re: How to Tax Gain Harvest My Taxable Account

If the OP is in the 15% tax bracket now and has 20 grand space before crossing over to the next bracket, perhaps converting some of the traditional IRA to Roth IRA gives a better bang for the buck?
by lakpr
Wed Oct 18, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance for retirement
Replies: 15
Views: 1360

Re: Personal Finance for retirement

Do you mean when you withdraw the money from 401k account at retirement? Yes of course, but you would've to pay Uncle Sam either at the time of contribution or at the time of withdrawal. You do realize that you are paying taxes on the money you are not contributing to 401k now, don't you? If you are...
by lakpr
Wed Oct 18, 2017 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance for retirement
Replies: 15
Views: 1360

Re: Personal Finance for retirement

I just started a 401k. I get a 3% match. I just dont want to run short. Can you triple your monthly contribution to 401k plan? That would make you max out the annual pretax limit of 18K per year. And using the same assumptions as before, you should have $33K per year (in 2017 dollars). For a single...
by lakpr
Wed Oct 18, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance for retirement
Replies: 15
Views: 1360

Re: Personal Finance for retirement

Do you not plan to marry in the future, have kids? Do you plan to lead a single life until the age of 63? Do you know what are your monthly or yearly expenses? That's the first thing you must determine if you want to answer the question of whether this proposed nest egg is sufficient for you to reti...
by lakpr
Wed Oct 18, 2017 10:53 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2304
Views: 410284

Re: What's Your Credit Card Rewards Strategy?

I need help figuring out if I should ask Fidelity to lower my credit limit. I applied for their 2% cash back card about 2 weeks ago, and the approval finally came through and it's for $50k. I have no need for that high a limit, and am s bit concerned that it'd lock up my credit and mess with me get...
by lakpr
Tue Oct 17, 2017 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth applying for Credit Limit Increase?
Replies: 21
Views: 1328

Re: Is it worth applying for Credit Limit Increase?

I make barely 150K and my credit limit on Chase Sapphire Reserve is 30K. But then I have 28 year history with over 800 credit score. No intention of bragging, just providing you a datapoint. Of course, I ran more than 40K expenses through that card in the past year. Used it for EVERYTHING. Edited to...
by lakpr
Sat Oct 14, 2017 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Tradelines
Replies: 37
Views: 2242

Re: Selling Tradelines

Credit scores are an attempt to identify problem consumers and potential employees, which is why I have a problem with increasing credit scores with this method. When you reduce the worth of a human being to a mere three digit number, the said human being has every right to increase self worth usin...
by lakpr
Sat Oct 14, 2017 5:34 pm
Forum: Personal Consumer Issues
Topic: Need Embassy Row Map in PDF
Replies: 7
Views: 1087

Re: Need Embassy Row Map in PDF

I have "CutePDF Writer" installed on my laptop. For this question, I simply went to Google Maps and searched for Embassy Row Washington DC, and on the resulting map right-clicked and "print"ed to CutePDF as the printer. Voila, a PDF file. CutePDF writer is free to download and use, been using it for...
by lakpr
Sat Oct 14, 2017 7:24 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2304
Views: 410284

Re: What's Your Credit Card Rewards Strategy?

beehappy, My understanding is that, Yes authorized users are affected by 5/24 rule. But only if the tradelines are actually opened in the last two years by the primary user. If you make your spouse an authorized user on a card that you opened in 2011, say, that tradeline doesn't seem to count There ...
by lakpr
Thu Oct 12, 2017 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2304
Views: 410284

Re: What's Your Credit Card Rewards Strategy?

As a credit-card addict on a 5/24 parole, I clicked on your link full of hope. Alas, there was nothing in for me. For unconscionable reasons, the nearest Chase branch is hundreds of miles away from D.C. New York is a mere 4 hours train ride away, for a lady who hiked 800 km over 40 days, surely 4 h...
by lakpr
Tue Oct 10, 2017 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: [Boglehead vs Mr Money Mustache philosophies]
Replies: 203
Views: 15034

Re: [Boglehead vs Mr Money Mustache philosophies]

Folks, So, where does my philosophy falls in the spectrum of Boglehead versus MMM? 1) Save 1/3, spend 1/3, pay 1/3 in tax. Aka, save one year of expense every year and spend the rest. You will reach your number in 20+ years even with 0% real return. 2) Focus on the big items: House, college educati...
by lakpr
Mon Jul 31, 2017 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Best credit card options??
Replies: 18
Views: 2266

Re: Best credit card options??

Just tried to sign up for Penfed Visa; looks like the 5% cash back for gas is out for "most" new members. They are down to 1.5% cash back, same as my Capital One Quicksilver card The Penfed Platinum Rewards Visa card is still available, and can be a close-enough approximation to the discontinued 5%...
by lakpr
Sat Jul 22, 2017 5:33 am
Forum: Personal Finance (Not Investing)
Topic: My risk tolerance suddenly went down
Replies: 33
Views: 5741

Re: My risk tolerance suddenly went down

Duplicate post, edited out
by lakpr
Sat Jul 22, 2017 5:31 am
Forum: Personal Finance (Not Investing)
Topic: My risk tolerance suddenly went down
Replies: 33
Views: 5741

Re: My risk tolerance suddenly went down

Duplicate post
by lakpr
Sat Jul 22, 2017 5:31 am
Forum: Personal Finance (Not Investing)
Topic: My risk tolerance suddenly went down
Replies: 33
Views: 5741

Re: My risk tolerance suddenly went down

Yes your IRA contribution can be deductible if maxing out 401(k) would put your MAGI below certain thresholds. See this link https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered...
by lakpr
Fri Jul 07, 2017 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: A good VISA card for Gas & Groceries?
Replies: 66
Views: 4517

Re: A good VISA card for Gas & Groceries?

Penfed Platinum rewards Visa card offers 5% on gas, 3% on groceries and 1% on everything else. These are offered as points, not straight up cash back. The points are worth .85 cents each. So this card turns out to be 4.2% cash back on gas, 2.4% on groceries and .85% on everything else. You can redee...
by lakpr
Fri Jun 30, 2017 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Those who max 401k
Replies: 55
Views: 7531

Re: Those who max 401k

My employer matches $ for $ for the first 3% and 50cents per $ for the next 4%. But the match is offered as a true up match the next year February around the same time as when bonuses are paid. So there is no advantage to stringing out the contributions or frontloading or backloading the contributio...
by lakpr
Fri Jun 30, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: How to change banking and credit card periods to end of month?
Replies: 12
Views: 1009

Re: How to change banking and credit card periods to end of month?

Chase does this on request. I get paid biweekly, so I set the Statement cutoff date to 15th of every month. CARDA requires that the borrower be given at least 25 days from Statement Cutoff date, so I know the due date falls around 10th of next month. I setup minimum due from my checking account on 2...
by lakpr
Thu Jun 15, 2017 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Rewards Credit Cards for Large Purchases
Replies: 19
Views: 2041

Re: Rewards Credit Cards for Large Purchases

You do not need to unauthorize yourself from each other's credit cards. You can transfer Chase UR points from one card to another easily. I do this, earn points on my Freedom Unlimited card and transfer them to my Sapphire Reserve card for their higher conversion rate when redeeming for travel. You ...
by lakpr
Sat Jun 03, 2017 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance - Way higher rate than our friends??? Advice
Replies: 19
Views: 1664

Re: Auto Insurance - Way higher rate than our friends??? Advice

Defscott, You are exactly the person the insurance companies want to milk. They have concluded that you are highly unlikely to move to other insurance companies even if they raise your rates (and correctly). So they jack up your insurance rates with impunity. Now the ball is in your court. Are you d...
by lakpr
Sun May 28, 2017 5:55 am
Forum: Personal Finance (Not Investing)
Topic: High School Graduation Gifts
Replies: 21
Views: 2480

Re: High School Graduation Gifts

BestBuy gift cards in $25 denominations
by lakpr
Wed May 24, 2017 11:55 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2304
Views: 410284

Re: What's Your Credit Card Rewards Strategy?

I have a large purchase coming up ($10,000 +) ...... Would you recommend something else? ....... My score is about 815. I recommend Chase Sapphire Preferred or Chase Sapphire Reserve cards assuming you don't already have them and you don't have more than 5 new cards in the past 24 months Both give ...
by lakpr
Fri May 19, 2017 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Compensation and 401k Match
Replies: 7
Views: 764

Re: Variable Compensation and 401k Match

My company allows us to contribute specific $ amount per paycheck. So we subtract the yearly amount needed to get max match assuming no bonus from $18K and adjust the amount prior to and after the bonus check pay period.
by lakpr
Fri May 12, 2017 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?
Replies: 8
Views: 1389

Re: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?

Congratulations on becoming a father! - Can the insurance through your employer for your spouse be increased beyond 25,000? That's awful low. I'd shoot for at least 250,000. - Get at least a thirty year level premium term insurance for both yourself and your wife outside of your employer. Do it soon...
by lakpr
Thu May 11, 2017 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Can you suggest a mortgage lender who does not resell
Replies: 67
Views: 5535

Re: Can you suggest a mortgage lender who does not resell

DCU, aka Digital Federal Credit Union, originates and services the mortgage loans for the life of the loans. Excellent customer service. I had them for the mortgage on my first house where I lived for 8 years before I sold it. You can become a member of the credit union through donating $25 or so to...
by lakpr
Tue May 09, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: How should I refinance my resident home?
Replies: 23
Views: 1438

Re: How should I refinance my resident home?

I agree with your wife's point of view. Keep it simple, refinance everything into the 15 year mortgage. My philosophy: Do not take risks with the roof over your head, do not view it as an investment, try to be mortgage free as soon as fiscally prudent and feasible.
by lakpr
Sun May 07, 2017 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance - When do you drop collision insurance?
Replies: 7
Views: 1187

Re: Auto Insurance - When do you drop collision insurance?

Geico in PA offers $2500 deductible on collision and comprehensive. That is my choice. It helps if you have an $1800 loss that gooses your rates for several years if reported. Just because you do not make an insurance claim does not mean that the loss will not be reported to the insurers. There is ...
by lakpr
Sun May 07, 2017 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Most Common Financial Mistakes
Replies: 108
Views: 15418

Re: Most Common Financial Mistakes

The following (in no particular order) are mistakes to avoid: Shopping at highbrow stores like Ethan Allen, Whole Foods, etc. Daycares Private schools College funds Purchasing nonfunctional fad vehicles such as Tesla Swimming pools International travel Mild disagreements here. Daycare: unavoidable ...
by lakpr
Sat May 06, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Federal job, "military time buyback" for pension
Replies: 22
Views: 2274

Re: Federal job, "military time buyback" for pension

We did something very similar for my wife in NJ. She's a teacher, who quit her job to take care of kids when they were born, and re-entered the teaching profession after a gap of 4.5 years. We were forced to cash out the accumulated pension benefit after 3 years of absence from the profession ... an...
by lakpr
Sat May 06, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: How to get out of a apartment renter lease? They want $3,600
Replies: 40
Views: 3649

Re: How to get out of a apartment renter lease? They want $3,600

In your other post you said you were buying a house, and presumably that's the reason why you are breaking your lease. From what I know, the landlord can keep your security deposit and one month's rent. According to New Jersey law, the landlord should make good faith efforts to re-rent the unit with...
by lakpr
Sat May 06, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: At last, 25 years in America, 1st to buy own house in my family! Help me not screw up!
Replies: 12
Views: 1593

Re: At last, 25 years in America, 1st to buy own house in my family! Help me not screw up!

Echo what sunny_socal said. I am in Central NJ (Princeton area), bought a home 5 years ago, and my closing costs were around 3200 dollars. Of which the majority expense was title insurance, around $1800. For comparison purposes, the home I bought is around 600K price range. If it helps, my lender wa...
by lakpr
Fri May 05, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Medallion Signature for Vanguard Trust
Replies: 29
Views: 2839

Re: Medallion Signature for Vanguard Trust

I didn't know credit unions did Medallion Signatures. We will look into that. Thanks. Please know that by providing Medallion signatures, the signing officer and the institution are accepting liability for the accuracy of whatever form you are filling out This is the reason why banks and credit uni...
by lakpr
Fri May 05, 2017 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA & American Health Care Act
Replies: 2
Views: 432

Re: IRMAA & American Health Care Act

No discussions about legislative effort that is not yet a law, please...
by lakpr
Thu Apr 27, 2017 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2304
Views: 410284

Re: What's Your Credit Card Rewards Strategy?

https://www.penfed.org/platinum-rewards-visa-signature/ Nice sign up bonus and 'no-AF' generally don't happen often. I have this card. Note that this is essentially a 4.2% gas card, since you get rewards in terms of points and not straight cash back. Then 5880 points will need to be redeemed for $5...
by lakpr
Thu Apr 27, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Chase - $500 to open business checking account. Worth it?
Replies: 7
Views: 1234

Re: Chase - $500 to open business checking account. Worth it?

5/24 rule does not apply for bank accounts. It only applies to trade lines that appear on your credit report. Checking accounts don't. It will have added an inquiry to your credit report, sure, but aside from the 5 point ding on your credit score it will have no other effect. Chase I know is not inq...
by lakpr
Thu Apr 27, 2017 5:02 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 109
Views: 17350

Re: "Invited" to change to Vang Brokerage

Personally I would not bother. I don't see any specific benefit by upgrading. On the contrary I have only downside I work in the financial industry, and in my line of work one must disclose all "brokerage accounts" where one has the ability to trade individual stocks, to the Compliance office. Wheth...
by lakpr
Thu Apr 27, 2017 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2304
Views: 410284

Re: What's Your Credit Card Rewards Strategy?

http://www.doctorofcredit.com/fort-knox-federal-credit-union-visa-platinum-review-5-cash-back-on-gas/ No sign up bonus though. Are there any good gas rebate cards with a nice sign up bonus. I currently drive about 90 miles a day for work so looking for a good gas rewards card. No annual fee preferre...
by lakpr
Tue Apr 25, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: First post be gentle... credit card 24 month rule? [cancel then reapply to get the bonus]
Replies: 15
Views: 1411

Re: First post be gentle... credit card 24 month rule? [cancel then reapply to get the bonus]

To my knowledge, yes you will have to cancel the card before reapplying and yes you do need to wait 2 years after canceling. I believe this card is also subject to 5/24 rule, meaning no more than 5 new trade lines within the past 24 months, from any issuer. The first part of this statement is incor...
by lakpr
Tue Apr 25, 2017 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: First post be gentle... credit card 24 month rule? [cancel then reapply to get the bonus]
Replies: 15
Views: 1411

Re: First post be gentle... credit card 24 month rule? [cancel then reapply to get the bonus]

Bogleheads may not be the right forum for posing this question. Try Reddit churning forum. Not sure if it is permissible to post links here but you can easily google "Reddit Churning" and pick the first link. To my knowledge, yes you will have to cancel the card before reapplying and yes you do need...
by lakpr
Thu Apr 20, 2017 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Dedicating your bonus to something
Replies: 30
Views: 3357

Re: Dedicating your bonus to something

i usually get a bonus every Feb and couple weeks before i change my 401k contribution to 100% so that whole bonus go to it. I then change back to 10%. bonus gets taxed so much that it makes more sense to just let it go to 401k. Hopefully you do know that a dollar of bonus is taxed just like any oth...
by lakpr
Thu Apr 20, 2017 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to withdraw a positive credit card balance ($2600)?
Replies: 10
Views: 1240

Re: How to withdraw a positive credit card balance ($2600)?

It's been my experience that if you leave surplus balance on your credit card for more than 2 billing cycles, at the close of second billing cycle the card company sends a check to your home. It caught me a couple of times in surprise as I was expecting that the surplus balance on my card would be d...
by lakpr
Tue Apr 18, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of stuff would you never DIY, assuming you could?
Replies: 75
Views: 7145

Re: What kind of stuff would you never DIY, assuming you could?

Lawn mowing. Did it for a couple of years myself. But now have serious allergies to anything grass related, glad to pay someone $50 a pop to mow the lawn.

At least through the summer, it helps a neighborhood kid earn a little money
by lakpr
Mon Apr 17, 2017 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Closing my oldest credit card
Replies: 19
Views: 2332

Re: Closing my oldest credit card

As a general rule, you should keep your first credit card account forever. Now it is possible that such credit card might not serve your needs any more as time passes -- after all, someone who would give a credit card for people with no credit history has to be one that takes a gamble on unproven bo...
by lakpr
Wed Mar 15, 2017 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Guidelines for when to get a new credit card?
Replies: 16
Views: 1666

Re: Guidelines for when to get a new credit card?

My philosophy of when to apply for a new credit card is a simple rule: will I be better off with this new credit card by at least $300 within 12 months of obtaining the card? I apply for the card, if yes. It is not quite No if the answer is less than $300, may be I will consider more if the amount i...
by lakpr
Wed Mar 15, 2017 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: 2016 contributions before tax deadline. Confused!
Replies: 7
Views: 698

Re: 2016 contributions before tax deadline. Confused!

No, 403b contributions count only for the year in which they are made. If your objective is to reduce your taxable income for 2016, your alternative would only be to contribute to a traditional IRA. But this option is only available to you if you are either: (a) married filing jointly and your modif...