Search found 65 matches

by mikejomike
Fri Oct 06, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Custodian dragging their feet with transfer
Replies: 10
Views: 720

Re: Custodian dragging their feet with transfer

Schwab called me and asked me to get involved, as the current custodian stopped communicating. I have an email to the former advisor, who is out of the office until Tuesday. They may be delaying to get another month of fees. If this is resolved soon, and they delayed just enough for another few, wou...
by mikejomike
Fri Oct 06, 2017 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Custodian dragging their feet with transfer
Replies: 10
Views: 720

Re: Custodian dragging their feet with transfer

Thanks! I’ll check into FINRA. I did not know who regulates the transfers
by mikejomike
Fri Oct 06, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Custodian dragging their feet with transfer
Replies: 10
Views: 720

Custodian dragging their feet with transfer

I’m trying to transfer an investment account full of standard mutual funds to Schwab. The current custodian is dragging their feet, now at 45 days since transfer initiation. They are now ignoring Schwab’s requests for updates/info. I’m now trying to get info from them, but what else can be done in t...
by mikejomike
Tue Sep 26, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab.com login trouble?
Replies: 15
Views: 1553

Re: Schwab.com login trouble?

I had a link to the login page that, after logging in, would say 'this page is temporarily unavailable' or something to that effect. When I went to Schwab's homepage, clicked 'login' on the upper right, the Schwab.com, it took me to a page that I was successfully able to login. This is the same path...
by mikejomike
Tue Sep 26, 2017 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Question for those familiar with Classic Car Insurance & Umbrella Policy
Replies: 12
Views: 807

Re: Question for those familiar with Classic Car Insurance & Umbrella Policy

Thanks for all the feedback. It helps to have these options as taking points when I call my insurance companies. To clarify, I have no hesitation with agreed value, which I have with my Grundy classic car insurance. My hesitation is if I need to go to stated value with my primary insurer (Erie)
by mikejomike
Mon Sep 25, 2017 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Question for those familiar with Classic Car Insurance & Umbrella Policy
Replies: 12
Views: 807

Re: Question for those familiar with Classic Car Insurance & Umbrella Policy

If you have a good independent agent, they can work your policies to all work together. I had issues when I instructed students on the track and drove an unregisterable, uninsured racecar. Through work with my agent, my regular car insurance and umbrella insurance were aware and would insure me. Th...
by mikejomike
Mon Sep 25, 2017 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Question for those familiar with Classic Car Insurance & Umbrella Policy
Replies: 12
Views: 807

Re: Question for those familiar with Classic Car Insurance & Umbrella Policy

Reading between the lines here... it sounds like you umbrella policy only covers excess liability you would have on the other items you have insured with the umbrella issuer on your other policies. For example, if you have two regular daily use cars that are insured with Company X, and you have the...
by mikejomike
Mon Sep 25, 2017 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Question for those familiar with Classic Car Insurance & Umbrella Policy
Replies: 12
Views: 807

Re: Question for those familiar with Classic Car Insurance & Umbrella Policy

Umbrella policies generally cover your liability resulting from injury to others or their property, not your property. Not sure how the value of your classic car fits in here. Your classic car insurance company IS providing liability insurance resulting from use of the classic car, correct? I think...
by mikejomike
Mon Sep 25, 2017 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Question for those familiar with Classic Car Insurance & Umbrella Policy
Replies: 12
Views: 807

Question for those familiar with Classic Car Insurance & Umbrella Policy

I have my auto, homeowners and umbrella insurance policies with a mainstream insurer. I have a classic car insured with a specialty classic car insurance company with an agreed value policy. My umbrella policy specifically excludes payout from anything as a result of using/owning the classic car. Ob...
by mikejomike
Fri Sep 15, 2017 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Question on Taxes (W-4) on a Lump Sum Payout
Replies: 5
Views: 485

Re: Question on Taxes (W-4) on a Lump Sum Payout

Thanks. She has the question into HR to see how it would be taxed. Turns out we don't need to do the W4 now, only as we get closer to the deferment date, but we still need them to answer the question so we're prepared with an answer.
by mikejomike
Thu Sep 14, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Question on Taxes (W-4) on a Lump Sum Payout
Replies: 5
Views: 485

Re: Question on Taxes (W-4) on a Lump Sum Payout

Katietsu wrote:
Thu Sep 14, 2017 9:35 am
I am not sure you are correct with respect to how the withholding will be calculated. I would think it would be more likely that withholding would follow the guidelines similar to that used for bonus payments.
So would that be annual, or is there a special bonus schedule?
by mikejomike
Wed Sep 13, 2017 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Question on Taxes (W-4) on a Lump Sum Payout
Replies: 5
Views: 485

Question on Taxes (W-4) on a Lump Sum Payout

My wife has to schedule the deferment date for a lump sum (approx. $250k) from a non-governmental 457b. She can fill out a W-4 form to change the taxes withheld if she wants. I assume this lump sum payout will be taxed as if she made 26X$250,000=$6.5M (the company pay cycle is biweekly). She will no...
by mikejomike
Mon Sep 11, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Beneficiaries & Access to Joint Account
Replies: 7
Views: 669

Re: Vanguard Beneficiaries & Access to Joint Account

I see. Sounds like they don't necessarily force it to happen, but would like to see it happen. My wife has absolutely no interest, so it's more practical with one login
by mikejomike
Mon Sep 11, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Beneficiaries & Access to Joint Account
Replies: 7
Views: 669

Re: Vanguard Beneficiaries & Access to Joint Account

each of you needs to set up a separate login. each of you will see access to the same joint account under your own login. I don't think this happened. Before we were married (maybe early 2000's), I had a Vanguard account with a small Roth IRA. I transferred the account to Fidelity and I believe I c...
by mikejomike
Mon Sep 11, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Beneficiaries & Access to Joint Account
Replies: 7
Views: 669

Re: Vanguard Beneficiaries & Access to Joint Account

Thanks, this is helpful. It sounds like we both have just one username and password for the joint account. I need to look into the beneficiaries a bit more.
by mikejomike
Mon Sep 11, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Beneficiaries & Access to Joint Account
Replies: 7
Views: 669

Vanguard Beneficiaries & Access to Joint Account

I have a joint account at Vanguard with my wife. We seem to have one login to the account. Is this correct? I don't remember setting up a second login, but I had to with a recent account opening at Schwab. Schwab said it was a requirement so they could see who logged in for cases of fraud. I like on...
by mikejomike
Mon Sep 11, 2017 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Non-Governmental 457(b)
Replies: 4
Views: 457

Re: Non-Governmental 457(b)

My wife is in this same situation. You're out of luck. I thought the 457b was another retirement account (as did our FA). It's not. I think we're taking the distribution next year when she's not going to be working much of the year. If you're still working, it probably makes sense to take it after r...
by mikejomike
Thu Aug 31, 2017 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Help with one rollover per year rule
Replies: 4
Views: 495

Help with one rollover per year rule

I'm having trouble figuring out what type of rollover I'm dealing with here. My wife has a 401k that is 80% Roth, 20% pre-tax. I called Fidelity (the receiving custodian) and they said she would need to call the current custodian and request a check for each part, one payable to (Fidelity FBO wife n...
by mikejomike
Thu Aug 24, 2017 7:59 am
Forum: Investing - Help with Personal Investments
Topic: Edward Jones, American Funds, Fiduciary Rule changes
Replies: 31
Views: 3062

Re: Edward Jones, American Funds, Fiduciary Rule changes

Check Schwab as well as Vanguard and Fidelity. I found Schwab could take all of my funds in kind, where Vanguard and Fidelity could only take half of them, which would've caused me to liquidate.
by mikejomike
Wed Aug 23, 2017 2:00 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover pre-tax portion of old 401k to old Self Employed 401k
Replies: 0
Views: 139

Rollover pre-tax portion of old 401k to old Self Employed 401k

My wife has an old 401k that is 80% Roth and 20% pre-tax. I would like to transfer it from the current custodian to Fidelity. She currently has a Roth IRA and a Self Employed 401k with Fidelity. She does not actively use the SE 401k, as she is no longer doing contract work. I want to avoid creating ...
by mikejomike
Fri Aug 18, 2017 8:45 am
Forum: Investing - Help with Personal Investments
Topic: What type of bond fund for my purpose?
Replies: 22
Views: 1405

Re: What type of bond fund for my purpose?

Your portfolio likely throws off way more than 1% a year in yield now in your taxable accounts. You are already covered. You want to make a bear play go for it. You want something that will hold up if the banking / brokerage system in the USA fails go for it. But 2-3% in mainstream investments aren...
by mikejomike
Fri Aug 18, 2017 7:52 am
Forum: Investing - Help with Personal Investments
Topic: What type of bond fund for my purpose?
Replies: 22
Views: 1405

Re: What type of bond fund for my purpose?

Thanks. I'm specifically talking taxable. My mention of penalties was in response to why I don't see a retirement account as a valid place to hold these bonds that I would need to access in a crisis. This is only about 2-3% of my portfolio, so it's just a bit of diversification *just in case*. The l...
by mikejomike
Fri Aug 18, 2017 7:14 am
Forum: Investing - Help with Personal Investments
Topic: What type of bond fund for my purpose?
Replies: 22
Views: 1405

Re: What type of bond fund for my purpose?

Generally, if there is severe inflation, you would want to avoid long-term bonds. If there is deflation, you would want to hold long-term bonds. In my opinion, during a recession/depression, capturing a bigger positive is less important than avoiding a bigger negative; therefore, I avoid long-term ...
by mikejomike
Thu Aug 17, 2017 12:03 pm
Forum: Investing - Help with Personal Investments
Topic: What type of bond fund for my purpose?
Replies: 22
Views: 1405

Re: What type of bond fund for my purpose?

In "a several year depression scenario" I don't know what type of bonds other than Treasury bonds would be a secure source of cash to live on. I would worry about municipal bonds of any duration, since many local governments have severely underfunded pension liabilities and are often cash strapped ...
by mikejomike
Thu Aug 17, 2017 10:26 am
Forum: Investing - Help with Personal Investments
Topic: What type of bond fund for my purpose?
Replies: 22
Views: 1405

Re: What type of bond fund for my purpose?

We would want money to live. We have an emergency cash fund, but I'm looking at a several year depression scenario where we need money. Taking money from retirement accounts in this case would incur a penalty. This would not be a large portion of our portfolio, just a safety net. We are generally in...
by mikejomike
Thu Aug 17, 2017 9:50 am
Forum: Investing - Help with Personal Investments
Topic: What type of bond fund for my purpose?
Replies: 22
Views: 1405

What type of bond fund for my purpose?

I want to have bonds in my taxable account to have access to money in case of an equity crash. Access to retirement funds is 20+ years away. I know the general advice is tax exempt bonds, but would I want short, intermediate, limited or long term municipal bonds for the situation where equities crash?
by mikejomike
Wed Aug 16, 2017 2:23 pm
Forum: Investing - Help with Personal Investments
Topic: Bitcoin
Replies: 124
Views: 8703

Re: Bitcoin

I found this interesting on the potential to manipulate BC price


https://hackernoon.com/meet-spoofy-how- ... c711d28eb4
by mikejomike
Wed Aug 16, 2017 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: Bond Fund in Taxable... ok for me?
Replies: 27
Views: 1820

Re: Bond Fund in Taxable... ok for me?

I'm considering bond funds in taxable as well. I have had both state muni and federal muni up until now. The federal muni (i.e. VMLUX) has pretty poor performance relative to BND, so I'm trying to figure out why not use BND instead of VMLUX. My state muni performs pretty well compared to BND, but I ...
by mikejomike
Wed Aug 09, 2017 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: Can Schwab transfer in kind vanguard admiral
Replies: 2
Views: 328

Can Schwab transfer in kind vanguard admiral

I'm looking to transfer a brokerage account that contains some Vanguard Admiral funds. I'm investigating options by calling Vanguard, Fidelity & Schwab. I always read that Vanguard will not allow Admiral shares to be held outside of Vanguard. Fidelity told me they could not take Admiral funds, but S...
by mikejomike
Thu Aug 03, 2017 8:43 am
Forum: Investing - Help with Personal Investments
Topic: What Would You Do- Brokerage Transfer?
Replies: 9
Views: 470

Re: What Would You Do- Brokerage Transfer?

What is it costing you to stay with the current investments and advisor? It's costing 1% What percentage of the assets are not transferable? About 1/3 are not transferable Does it make sense to transfer the easy-to-move assets now, and wait to make decisions on the rest? If I do that, they will auto...
by mikejomike
Thu Aug 03, 2017 8:31 am
Forum: Investing - Help with Personal Investments
Topic: What Would You Do- Brokerage Transfer?
Replies: 9
Views: 470

What Would You Do- Brokerage Transfer?

I have a non-retirement investment account with an advisor. I want to transfer to Vanguard, but there are 5 of the 12 funds that cannot be transferred in kind. Unfortunately, these are the funds with the biggest gains that would need liquidated (approximately $55k gains). If you were in this situati...
by mikejomike
Thu Jul 27, 2017 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: How is the growth portion of a non-qualified 457b taxed?
Replies: 4
Views: 310

Re: How is the growth portion of a non-qualified 457b taxed?

Thanks...unfortunately we don't have a choice on how much to take out- a forced lump sum distribution. I'm running calculations on when it would be most effective to take distribution. I have another post covering the details of this, but it's kind of an unfortunate mistake/misunderstanding of the 4...
by mikejomike
Thu Jul 27, 2017 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: How is the growth portion of a non-qualified 457b taxed?
Replies: 4
Views: 310

How is the growth portion of a non-qualified 457b taxed?

Does anyone know how the growth portion of a non-qualified (non-governmental) 457b is taxed? Is it considered income or capital gains/dividends? I've googled this, but I can't find the answer. I was looking at some IRS documents online, and one says the contributions are taxed when the account is di...
by mikejomike
Mon Jul 24, 2017 7:40 am
Forum: Investing - Help with Personal Investments
Topic: Can I transfer in kind if I don't have fund minimum?
Replies: 3
Views: 465

Re: Can I transfer in kind if I don't have fund minimum?

I don't want to keep these funds, but I don't want the gains from selling them now either. I am looking into what I need to do to transfer them and be ready if the market drops and I can better absorb the gains, or have a tax year where it makes sense to absorb the gains. These funds are GICIX, PRUF...
by mikejomike
Sun Jul 23, 2017 5:06 pm
Forum: Investing - Help with Personal Investments
Topic: Can I transfer in kind if I don't have fund minimum?
Replies: 3
Views: 465

Can I transfer in kind if I don't have fund minimum?

We have an investment account with a bank. There are several funds that have high minimum investments (million and up). We have maybe $50k in these funds. I'm sure there's some agreement that if the cumulative investments at that bank exceed the minimum, there can be holdings of less than the minimu...
by mikejomike
Sat Jul 22, 2017 9:12 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for 457b distribution
Replies: 9
Views: 714

Re: Advice for 457b distribution

If kept in the 457b (and assuming constant tax rates while working and in retirement), the growth of the funds will be tax-free. That huge tax-advantage — which is enough to overpower even high expense ratios — goes away in a taxable account. I'm unclear on this statement- wouldn't the growth of th...
by mikejomike
Sat Jul 22, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for 457b distribution
Replies: 9
Views: 714

Re: Advice for 457b distribution

I should not have referenced the cost basis. I was thinking that she already paid taxes on the contributions, which is not correct. I confirmed that these are the only two choices, unfortunately- no roll over options We are in our early 40's and will not need the money anytime soon (20+ years). I'm ...
by mikejomike
Sat Jul 22, 2017 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for 457b distribution
Replies: 9
Views: 714

Advice for 457b distribution

I'm looking for thoughts/advice on a 457b distribution. My wife is taking some time off from work, and one of her accounts is a non-government 457b. She has about $250k in it (Basis is probably about 170k). I just found out she needs to either take it as a lump sum distribution now or it can be defe...
by mikejomike
Tue Jul 11, 2017 9:53 am
Forum: Personal Consumer Issues
Topic: what happened to new KO roses?
Replies: 20
Views: 1511

Re: what happened to new KO roses?

Sorry, I don't know what it was. My sister gave it to me years ago, and I just had written the water mix ratio and that it was for killing beetles....
by mikejomike
Tue Jul 11, 2017 8:13 am
Forum: Personal Consumer Issues
Topic: what happened to new KO roses?
Replies: 20
Views: 1511

Re: what happened to new KO roses?

Not too early for Japanese beetles. Ours were COVERED with Japanese beetles, I just sprayed them the other day to kill them (in PA)
by mikejomike
Thu May 25, 2017 12:55 pm
Forum: Personal Consumer Issues
Topic: Help! Renters asking for radon mitigation--what do I need to do?
Replies: 18
Views: 1919

Re: Help! Renters asking for radon mitigation--what do I need to do?

Most newer houses have a 3" or 4" pipe capped in the basement, or, better yet, a passive system that vents through the roof, but doesn't have an inline fan. Either way, it can be fairly cheap and easy to do if you're a DIY-er. I often hear it needs to be done by a certified mitigator, etc,...
by mikejomike
Sat May 06, 2017 8:09 am
Forum: Investing - Theory, News & General
Topic: Is it possible NAV was reported wrong: funds lost 6-8%
Replies: 5
Views: 593

Re: Is it possible NAV was reported wrong: funds lost 6-8%

Thanks...I didn't even know where to look for distributions....I just never saw that before. Now I know...
by mikejomike
Sat May 06, 2017 7:17 am
Forum: Investing - Theory, News & General
Topic: Is it possible NAV was reported wrong: funds lost 6-8%
Replies: 5
Views: 593

Is it possible NAV was reported wrong: funds lost 6-8%

My wife has a couple index funds in her 401k that had questionable performance on Friday. They are both Voya funds. One is IPMIX (-6.8% on 5/5), which is supposed to track the S&P 400 mid cap index (+.83% on 5/5). The other is IIRSX (-7.58% on 5/5), which is supposed to track the Russell 2000 in...
by mikejomike
Wed May 03, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: How quick is too quick for a job offer?
Replies: 29
Views: 3726

Re: How quick is too quick for a job offer?

I got a job offer after my first interview. It lasted 6-8 hours, talking with various people and departments. At the end, I went back to the office of the guy who would be my boss and they offered the job. I've been here 19 years now.
by mikejomike
Fri Apr 07, 2017 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: Are there stipulations to buying and selling index funds?
Replies: 4
Views: 505

Re: Are there stipulations to buying and selling index funds?

You may get into 'wash sales' with the IRS...Google it and read about it. I don't think it would apply in a Roth though.
by mikejomike
Thu Apr 06, 2017 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Transfer of Assets Timing
Replies: 5
Views: 420

Re: Transfer of Assets Timing

Thanks for the feedback. I may have to go with the rollover. The fund options are limited, and the new custodian (Fidelity) cannot take the current funds in kind (that would be ideal)
by mikejomike
Thu Apr 06, 2017 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Transfer of Assets Timing
Replies: 5
Views: 420

Transfer of Assets Timing

I will be transferring a $300k solo 401k to a new custodian. This means the money will be out of the market for up to 2 weeks. I know the general thought is not to time the market, but at this point in time, if you were to transfer, would you do it immediately or is there some event you would wait f...
by mikejomike
Wed Apr 05, 2017 8:54 am
Forum: Investing - Help with Personal Investments
Topic: Are there fees for dividend reinvestment?
Replies: 2
Views: 554

Are there fees for dividend reinvestment?

I am transferring an SE401k to Fidelity. I want some Vanguard in it, specifically Wellesley. I know there will be an initial charge to buy the fund, but does anyone know if there will be fees for the dividend reinvestment?
by mikejomike
Mon Mar 20, 2017 8:21 pm
Forum: Investing - Help with Personal Investments
Topic: Utah Vs. New York 529 - Which one and why?
Replies: 20
Views: 1990

Re: Utah Vs. New York 529 - Which one and why?

We have Utah. If you use the age based investment, they put you in VITPX (VG Total Market) with a .02 ER. I can get a state tax deduction for a 529 in any state, and I chose Utah. It's consistently rated very high.