Search found 809 matches

by learning_head
Tue Oct 31, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Credit Report; best method
Replies: 17
Views: 756

Re: Credit Report; best method

Why use 3 agencies every 4 months rather than 4 agencies (4th being Innovis) for doing every 3 months? As a married couple I submit a request for a credit report every two months to the three major reporting firms; the first six months I request a report under my name and SSN and then the next six m...
by learning_head
Mon Oct 30, 2017 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance and Joint account with Siblings
Replies: 44
Views: 1825

Re: Inheritance and Joint account with Siblings

Everyone is an adult and the total amount is less than 25K. If you don't like the idea of cash for N siblings, buy N diamond rings or N * X gold coins or something else of value that can be memorable I can't dictate what other siblings can/can't do. ... including withdrawing all or part of a joint ...
by learning_head
Mon Oct 30, 2017 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: Early-retired 35 year old with $1 million
Replies: 198
Views: 18550

Re: Early-retired 35 year old with $1 million

Two of my best friends are a man aged 67 and his wife aged 63. They planned to work another year or two, then retire and do what they wanted. Last week she was rushed to the emergency room with a cerebral hemorrhage caused by a brain cancer. She will not live another year. They could have retired 1...
by learning_head
Sat Oct 14, 2017 2:22 pm
Forum: Investing - Help with Personal Investments
Topic: Upcoming Roth Contribution for 2018
Replies: 4
Views: 785

Re: Upcoming Roth Contribution for 2018

It's an actively managed fund. If you want to follow advice of Jack Bogle, it should be avoided. Stick with low-cost passively managed ones that follow an index. Yes, Wellington has relatively low fees which makes it a better fund than other actively managed ones, but there is not a single reason to...
by learning_head
Sat Oct 14, 2017 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: X times salary, backwards calculation?
Replies: 23
Views: 2308

Re: X times salary, backwards calculation?

Salary does not matter. What matters is what your expenses (minus after-tax Social Security, pension, annuity or other recurring income) will be. If your salary is 10M/year and your projected retirement expenses are $50k/year, you can retire after less than 1 year of working at any age, even age 1. ...
by learning_head
Sat Oct 14, 2017 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: wellington fund ( VWELX )
Replies: 24
Views: 2606

Re: wellington fund ( VWELX )

It's an actively managed fund. If you want to follow advice of Jack Bogle, it should be avoided. Stick with low-cost passively managed ones that follow an index. Yes, it has lower fees which makes it a better fund than other actively managed ones, but there is not a single reason to add money to it ...
by learning_head
Sat Oct 14, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: with frozen credit, is there benefit to fraud monitoring services?
Replies: 19
Views: 1509

Re: with frozen credit, is there benefit to fraud monitoring services?

Just wanted to bump this thread to see if anyone has more info or experience with this. Have you tried to open new lines of credit with your existing financial institutions after you placed your freeze? If so, did they require you to unfreeze first?
by learning_head
Sat Oct 14, 2017 10:29 am
Forum: Personal Consumer Issues
Topic: Free credit monitoring for AAA members
Replies: 16
Views: 1911

Re: Free credit monitoring for AAA members

... just freeze all agencies and don't think about it again. I agree with your last sentence. Freeze and be done with it. It's really not that hard to do and to thaw. I think this is not totally correct necessarily. Even with credit freezes, financial institutions with which you have current accoun...
by learning_head
Fri Oct 06, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth Waiting Period?
Replies: 18
Views: 1333

Re: Megabackdoor Roth Waiting Period?

... but having traditional IRA complicate "regular" backdoor Roth, so it's simpler to pay a bit of tax instead and convert all to Roth IRA. ... but many people do not exceed the Roth contribution income limits and need to do a Backdoor Roth. Many of those that do, if a plan allows in-service rollov...
by learning_head
Fri Oct 06, 2017 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Cash in a local bank or credit union
Replies: 54
Views: 3469

Re: Cash in a local bank or credit union

^ not following.. if you are talking about purchasing flight in US, they would accept credit cards. If you are talking about purchase made in Bangkok (and they don't accept CC or check?), then they can't use cash from your local CU anyway, here in US... Question was "situation where you would need a...
by learning_head
Fri Oct 06, 2017 10:45 am
Forum: Investing - Theory, News & General
Topic: Backdoor Roth: importance of spouse's tIRA
Replies: 5
Views: 509

Re: Backdoor Roth: importance of spouse's tIRA

Your plan makes sense, but just note that you can't go back and make use of tax-advantaged backdoor Roth for prior years. Hassle factor, after you set it up is about an hour per year (and I am being generous here): - transfer money from linked account to tIRA (5 mins) - in few days transfer money fr...
by learning_head
Fri Oct 06, 2017 9:15 am
Forum: Personal Consumer Issues
Topic: Too much house? (nervous 1st time buyer)
Replies: 57
Views: 4242

Re: Too much house? (nervous 1st time buyer)

could envision myself with a family there Others have mentioned this: you might be underestimating whether your future family will want to envision themselves in what they will see as YOUR house. When one person moves in with another, quite often, psychologically, they may feel it's YOUR place, not...
by learning_head
Fri Oct 06, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Anyone go 100% Ally or another online bank for all banking needs?
Replies: 61
Views: 5251

Re: Anyone go 100% Ally or another online bank for all banking needs?

1.25% interest so long as I do 15 debit transactions a month This sounds awful. You can get that rate lots of places with no debit transactions, or much better rates with the debits. +1. Seems like quite a pain. Plus, for any kind of "pay off" worth mentioning, you'd need a large enough balance + u...
by learning_head
Thu Oct 05, 2017 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth Waiting Period?
Replies: 18
Views: 1333

Re: Megabackdoor Roth Waiting Period?

Spirit Rider wrote:
Thu Oct 05, 2017 11:11 pm
You can also rollover after-tax employee contributions to a Roth IRA and earnings to a traditional IRA. In this case both rollovers are tax-free.
... but having traditional IRA complicate "regular" backdoor Roth, so it's simpler to pay a bit of tax instead and convert all to Roth IRA.
by learning_head
Thu Oct 05, 2017 10:35 pm
Forum: Investing - Help with Personal Investments
Topic: Small business owner new to Bogleheading
Replies: 4
Views: 460

Re: Small business owner new to Bogleheading

Money earmarked to be used in the next few years should not be in the stock market. Only funds that you don't plan on using for at least 10 years should be in the stock market.
by learning_head
Thu Oct 05, 2017 10:32 pm
Forum: Investing - Help with Personal Investments
Topic: Investing my HSA
Replies: 7
Views: 845

Re: Investing my HSA

Best financial way to use HSA is the following (and from your OP I think you may already know this). Consider HSA as part of your overall portfolio, like a Roth IRA. Never pay from it until you are retired - the later, the better. Keep receipts for many years (e.g. scan them in) so you can later use...
by learning_head
Thu Oct 05, 2017 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: 45% Down Payment vs. High Mortgage (Massachuestts)
Replies: 17
Views: 1616

Re: 45% Down Payment vs. High Mortgage (Massachuestts)

grabiner wrote:
Thu Oct 05, 2017 9:08 pm
I would still advise against making non-deductible 401(k) contributions, as these have little benefit
Megabackdoor roth? Tax-free growth?
by learning_head
Thu Oct 05, 2017 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: How much term life insurance is enough?
Replies: 11
Views: 1054

Re: How much term life insurance is enough?

I would think the formula should be based more on expenses that you want to cover, not income. If you save a lot, your expenses are much lower than income and thus lower amount is needed for term insurance. Also in that case, after 5-10 years, you'd save enough to need even less insurance and may co...
by learning_head
Thu Oct 05, 2017 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 372
Views: 49539

Re: Retirement Account Stolen by Identity theft

Thank you all so so much for your suggestions and support - both are invaluable. Tomorrow I will be updating the police with the new information I have received, put on fraud alerts (I have already put on credit freezes), and contact the financial institutions with whom my father does business to s...
by learning_head
Thu Oct 05, 2017 9:50 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 642
Views: 104431

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

is TDAM giving an cash for transfers to an existing account right now ? I have a small account in another brokerage that I want to transfer over (possibly topped with some cash to reach a threshold). I can only find pages about opening new accounts in TDAM. I usually just open a new account when it...
by learning_head
Thu Oct 05, 2017 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Cash in a local bank or credit union
Replies: 54
Views: 3469

Re: Cash in a local bank or credit union

Could you envision a situation where you would need a relatively large amount of cash without the ability to wait the 48 hours required for a transfer from CapitolOne360? Do you have one in mind? I am having difficulty imagining one. I assume you are saying I could not use a credit card or personal...
by learning_head
Thu Oct 05, 2017 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 372
Views: 49539

Re: Retirement Account Stolen by Identity theft

brak wrote:
Thu Oct 05, 2017 9:18 pm
Sound like fun?
No fun, but I think you will be able to teach a lot of us by sharing your experiences. Thanks again!
by learning_head
Thu Oct 05, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 372
Views: 49539

Re: Retirement Account Stolen by Identity theft

Since 1999 I check them daily online when I get up in the morning ... And at night ... Does not this expose you to more danger in that some keylogger on your computer is more likely to catch your online credentials before your security software is updated enough to discover the keylogger? I would t...
by learning_head
Thu Oct 05, 2017 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 372
Views: 49539

Re: Retirement Account Stolen by Identity theft

Thank you brak for posting the story and keeping us up to date - this is a case many people would be interested in I think. I like the idea Ashley1748 posted about having fraud alerts in addition to credit freezes so as to have additional warning to institutions (esp his current ones if they decide ...
by learning_head
Thu Oct 05, 2017 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Is a security freeze at Innovis really needed?
Replies: 70
Views: 29173

Re: Is a security freeze at Innovis really needed?

^ Wait a couple weeks at least - it eventually comes and they are overwhelmed nowadays.
by learning_head
Thu Oct 05, 2017 11:10 am
Forum: Personal Consumer Issues
Topic: How do you value your time?
Replies: 97
Views: 4130

Re: How do you value your time?

My understanding of the tax code effects other behaviors as well. When giving someone a $1 tip that is appropriately reported to the IRS, for example, I realize that 6.2% goes to social security (twice if self employed), 1.45% goes to Medicare (twice if self employed), as much as 38% goes to federa...
by learning_head
Thu Oct 05, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: How much worth house should one buy?
Replies: 73
Views: 4343

Re: How much worth house should one buy?

My rules: 1) The PITI of the house you buy should be 20% to 30% lower than the house that you are renting. 2) Your net worth excluding the house should be at least 2.5 to 3 times the price of the house. KlangFool IMO, comparing mortgage payment to rent is comparing apples and oranges. Mortgage is j...
by learning_head
Thu Oct 05, 2017 10:35 am
Forum: Personal Consumer Issues
Topic: How do you value your time?
Replies: 97
Views: 4130

Re: How do you value your time?

Good question. If I take my annual salary and divide by 2500 hours, I get an hourly rate of $45. Should not this be done on after-tax basis? :-) In any case, I think the cost of your free time is what you set it as and does not have to be related to what you happen to be making at your current job. ...
by learning_head
Thu Oct 05, 2017 10:13 am
Forum: Personal Finance (Not Investing)
Topic: How much worth house should one buy?
Replies: 73
Views: 4343

Re: How much worth house should one buy?

My rules: 1) The PITI of the house you buy should be 20% to 30% lower than the house that you are renting. 2) Your net worth excluding the house should be at least 2.5 to 3 times the price of the house. KlangFool IMO, comparing mortgage payment to rent is comparing apples and oranges. Mortgage is j...
by learning_head
Thu Oct 05, 2017 9:12 am
Forum: Personal Finance (Not Investing)
Topic: How much worth house should one buy?
Replies: 73
Views: 4343

Re: How much worth house should one buy?

My rules: 1) The PITI of the house you buy should be 20% to 30% lower than the house that you are renting. 2) Your net worth excluding the house should be at least 2.5 to 3 times the price of the house. KlangFool IMO, comparing mortgage payment to rent is comparing apples and oranges. Mortgage is j...
by learning_head
Thu Oct 05, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Cash in a local bank or credit union
Replies: 54
Views: 3469

Re: Cash in a local bank or credit union

the account sits with the only activity being Ally Bank transferring in $.25 (twenty-five cents) and withdrawing 11 and 14 cents monthly, to avoid the account being tagged inactive. Just curious - why these odd amounts and so many transactions? I just setup auto ACH transfers of $0.10 back and fort...
by learning_head
Thu Oct 05, 2017 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their umbrella insurance?
Replies: 129
Views: 17015

Re: Who has needed to use their umbrella insurance?

Isn't it easier to just buy the umbrella insurance and try not to get sued (I know this is not always controllable)? Buying umbrella insurance helps but does not fully protect you. You can buy insurance for $X and be sued for $X*10. Yes, but the number of times a judgment against an individual has ...
by learning_head
Thu Oct 05, 2017 8:28 am
Forum: Investing - Theory, News & General
Topic: Annuities-when and why?
Replies: 94
Views: 13540

Re: Annuities-when and why?

I intend to buy a CPI-adjusted SPIA between age 75 and 80, and then receive two inflation-adjusted monthly checks (Social Security and SPIA) for as long as I live. They will cover living expenses, but no luxuries. My stock/bond portfolio will pay for toys, treats, and trips, and if the market tanks...
by learning_head
Wed Oct 04, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their umbrella insurance?
Replies: 129
Views: 17015

Re: Who has needed to use their umbrella insurance?

michaeljc70 wrote:
Wed Oct 04, 2017 11:31 am
Isn't it easier to just buy the umbrella insurance and try not to get sued (I know this is not always controllable)?
Buying umbrella insurance helps but does not fully protect you. You can buy insurance for $X and be sued for $X*10.
by learning_head
Wed Oct 04, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Cash in a local bank or credit union
Replies: 54
Views: 3469

Re: Cash in a local bank or credit union

It never really occurred to me to use a non-local bank for a primary account. What would be the reason to do so? The high interest checking deals I have seen all require debit card purchases and such. I have used remote CU or Bank as my primary institutions over years. None of them had interest che...
by learning_head
Wed Oct 04, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their umbrella insurance?
Replies: 129
Views: 17015

Re: Who has needed to use their umbrella insurance?

... the insured, if not retired , would be at risk for 2 million as well-- wages can be garnished for a very long time . You don't need assets. What if you have a job? They can possibly garnish those wages. ... The only way I can see for the other party to collect is through wage garnishment ... A ...
by learning_head
Wed Oct 04, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Cash in a local bank or credit union
Replies: 54
Views: 3469

Re: Cash in a local bank or credit union

I think the answer would depend on how much you rather pay by cash vs check / bill pay / credit card. I am assuming a check would be as good as cash in case of emergency, in which case, I would think less than a thousand or few hundred at home would be more than enough. Am I not thinking of some eme...
by learning_head
Tue Oct 03, 2017 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Equifax customer information leak
Replies: 711
Views: 50096

Re: Equifax customer information leak

You might be better served planing to lift your freeze for that creditor rather than fooling yourself into thinking a Fraud Alert will protect your credit. When I went to unfreeze at Equifax for one creditor, I realized that Equifax does not seem to indicate for HOW LONG that creditor would be unfr...
by learning_head
Tue Oct 03, 2017 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Similar to: Can I Afford it?
Replies: 8
Views: 1323

Re: Similar to: Can I Afford it?

Probably a dumb question but ... what does "can I afford $X for this thing" question mean? You have net worth of $Y and you are asking about spending $X. Does the question mean whether $Y > $X ? (Similar with available cash flow of $Y/month or year and paying $X per month or year for the "thing") Ob...
by learning_head
Mon Oct 02, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Budgets: how do you track irregular income and expenses
Replies: 35
Views: 2497

Re: Budgets: how do you track irregular income and expenses

Tracking expenses on a per-year basis helps with regular yearly expenses. For multi-year expenses, like buying a car, you could guesstimate how often you will be buying cars and for how much (e.g. if $30k every 20 years, you should assume your car depreciation expense is $1500/year). In that case, d...
by learning_head
Mon Oct 02, 2017 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Reach out to hiring manager directly on LinkedIn?
Replies: 52
Views: 3110

Re: Reach out to hiring manager directly on LinkedIn?

I've already applied online through their careers website, but we all know this can be a black hole. I disagree with the premise that an online applications are a black hole. +1. When doing my extensive job search, my best offer (which I accepted) had come from an online application at <megacorp>.c...
by learning_head
Mon Oct 02, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6034

Re: Question About Long Term Care

if one can find policies where the premium expenses (reduction in returns) are fairly compensated by a large reduction in risk, then that may be a good option. One could use Modern Portfolio Theory to determine how much to buy. One could model LTCI as a negative-return, negative correlation product...
by learning_head
Sun Oct 01, 2017 10:17 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 204
Views: 15313

Re: Why do you LBYM? Why do you save and invest?

Yes, that's why I said "potentially" achieving all that - many people don't make use of that potential. I think you are saying they are not thinking enough about dangers of not having stable income forward. If their field is in relative high demand, maybe risk of losing job and not finding another ...
by learning_head
Sun Oct 01, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6034

Re: Question About Long Term Care

Your scenario of ever increasing, random, and huge increases is not possible. Increases have to be approved by your state's insurance commissioner. Yes, and states have already allowed both 50% and 100% increases in the past. States insurance officers also have to assure that the insurance company ...
by learning_head
Sat Sep 30, 2017 10:49 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 204
Views: 15313

Re: Why do you LBYM? Why do you save and invest?

Yes, that's why I said "potentially" achieving all that - many people don't make use of that potential. I think you are saying they are not thinking enough about dangers of not having stable income forward. If their field is in relative high demand, maybe risk of losing job and not finding another i...
by learning_head
Sat Sep 30, 2017 7:24 am
Forum: Investing - Theory, News & General
Topic: Why do you LBYM? Why do you save and invest?
Replies: 204
Views: 15313

Re: Why do you LBYM? Why do you save and invest?

My question to the member of the forum is this. What makes you different from others? What makes you believe that you could be LBYM, save and invest to make a difference in your life? Many people like material possessions, including "nice" (with their definition of "nice") houses, cars, watches, bo...
by learning_head
Sat Sep 30, 2017 6:14 am
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6034

Re: Question About Long Term Care

Yes, and none of the above makes me want to pay every year, just to discover that after say 15 years the prices have become too unreasonable for the coverage they provide and that I wish I never started paying. At that point, the decision will be either to drop the policy along with 15 years worth ...
by learning_head
Sat Sep 30, 2017 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Roth 401k vs Pre-tax 401k
Replies: 6
Views: 573

Re: Roth 401k vs Pre-tax 401k

If not sure about tax rates now vs later, I would say do 50% in each to spread you risk/reward. Another potential consideration: if you contribute full amount (e.g. 18k [+ catchup]), Roth allows you to effectively have more tax-advantaged money vs traditional because 18k is all yours in Roth but in ...
by learning_head
Fri Sep 29, 2017 6:25 pm
Forum: Investing - Theory, News & General
Topic: I-Bonds?
Replies: 35
Views: 4275

Re: I-Bonds?

In addition to the above-mentioned tax shifting from a current high tax bracket to a lower tax bracket when redeeming the I Bonds, they can also be used tax-free for qualifying educational expenses. Good reminder; but only applies within your MAGI limits (in 2016, married joint filing MAGI < 146k, ...
by learning_head
Fri Sep 29, 2017 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6034

Re: Question About Long Term Care

Some believe that the companies are now using more accurate data to predicate premiums and that creates more rate stability. In addition, many states have made it much more difficult for companies requesting rate increases. But, like most insurance like health,car and home rates are never guarantee...