Search found 286 matches
- Sat Dec 03, 2022 6:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: Schwab AMEX Platinum Card
- Replies: 23
- Views: 4589
Re: Schwab AMEX Platinum Card
Has anyone been able to transfer “Amex Blue” points to “Schwab Platinum Card from American Express” ? Sometimes card companies don't let you transfer points from one co-branded card to another. I don't think you can transfer Amazon Business Prime Amex Card Reward Points to another Amex card brand. I tried searching "Can I transfer Amex Blue for Business Card points to American Express Platinum Card® for Schwab" and nothing comes up direct on American Express website but I did find this website that says it can be done https://frequentmiler.com/how-to-convert-amex-membership-rewards-to-cash-with-the-schwab-platinum-card/ I was thinking of getting the American Express Platinum Card® for Schwab https://www.schwab.com/credit-cards/pl...
- Tue Sep 20, 2022 3:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: How to Analyze Pension versus 401k Match for two jobs
- Replies: 0
- Views: 244
How to Analyze Pension versus 401k Match for two jobs
I work a government job that is part of a pension plan. I have a job offer from another company that offers a 5% 401k match. I have having a hard time comparing the two. The pension pays 2% per year of your average annual salary beginning at age 60. I am 38 years old. I pay 6.75% of my salary for this benefit which comes to $6392 per year. For this analysis I am using a $90k salary average thus every year worked will result in an $1800/year increase in my pension. I am using a NPV Formula with year 1 being -$6,392, then $0 for years until age 60, then $1800 for years 22-50. I am estimating life expectancy to 88 years old. So a 50 year time frame. I have been using a rate of 2% to discount for inflation. The NPV for this is approx. $19,675. ...
- Fri Aug 26, 2022 5:00 pm
- Forum: Personal Finance (Not Investing)
- Topic: Does my credit score lower if I don't pay the balance in full?
- Replies: 27
- Views: 3123
Re: Does my credit score lower if I don't pay the balance in full?
30% - Credit Utilization: So don't use that much of your available credit. This applies to a single card as well as your total limits. For my sample size of one, I took a 25-30 point hit when one 0% card hit 50%, which was a fraction of my overall credit. I paid it down enough to get it to under 50%. The credit card company promptly bumped my limit after that, which would have brought the original balance to less than 50%. Anyway, after that, I realized how easily I could get trapped on that card and paid it down aggressively, months before the 0% rate expired. This is a big part of the reason I do not participate in these 0% promotion rates when I am targeted or when it is offered as part of the initial bonus. The hit to my credit score c...
- Fri Aug 26, 2022 11:44 am
- Forum: Personal Finance (Not Investing)
- Topic: deferred comp cash out
- Replies: 7
- Views: 791
Re: deferred comp cash out
Really not sure why you would ever want to. Biggest question is it a 457(b) government sponsored or not 457. You can leave the 457(b) with the plan sponsor indefinitely. If you dont plan on needing(wanting) any of the funds before age 59 1/2, then roll the funds over into a trad-IRA.
- Fri Aug 26, 2022 11:37 am
- Forum: Personal Consumer Issues
- Topic: Selling my car!
- Replies: 18
- Views: 1870
Re: Selling my car!
What does NADA say the private party value is? What does FB marketplace and craigslist in your area show for comparable vehicle prices? If carmax is offering you a competitive price, I would take it. I have heard good things about the service. If on the other hand the price offered by carmax doesnt seem competitive, then consider using fb marketplace. There is additional hassle here and time so calculate that in. Also, I generally only accept cash so someone is going to have to bring bills or we have to go to their bank together where they are getting the loan. I hand over the title to the bank, and the bank gives me a check. Also more hassle. As an FYI, the carmax price is very dependent on the condition or the vehicle. If you said the con...
- Fri Aug 26, 2022 11:20 am
- Forum: Personal Finance (Not Investing)
- Topic: Does my credit score lower if I don't pay the balance in full?
- Replies: 27
- Views: 3123
Re: Does my credit score lower if I don't pay the balance in full?
Wow, Some good information in the thread and some not so good information. Your FICO credit score is made of up 5 main areas: 35% - Payment History: So don't have a late payment 30% - Credit Utilization: So don't use that much of your available credit. This applies to a single card as well as your total limits. 15% - Length of credit history 10% - New credit inquiries 10% - Credit mix: Credit cards, car loans, home loans, student loans, etc... What OP was asking about had to do with Credit Utilization, we don't know exactly at what point higher utilizations will impact your score, but the common belief is that over 10% utilization, your score will drop, over 20% drops more, over 30%, etc. etc. etc. Your credit report doesn't know or care if...
- Thu Aug 25, 2022 4:27 pm
- Forum: Personal Consumer Issues
- Topic: Las Vegas--recommended activities?
- Replies: 40
- Views: 3903
Re: Las Vegas--recommended activities?
Have visited Vegas many times. I can second Red Rocks if you have a car as it is less than a 30 minute drive from the strip. As another poster mentioned, you can find a ticket4tonight booth on the strip and get same day discounted show tickets. Personally I would go see a Cirque show. Price $75-$180. As for gambling. DO NOT PLAY blackjack on the strip. . The rules are very disadvantageous, with every casino offering 6/5 blackjack. Treasure Island was the only outlier here. Down town has lower minimums and better rules. If you are interested in black jack. Get yourself a strategy card off of AMZN, and practice with an APP for a little bit. I'm partial to Ellis Island. Its a microbrewery/casino one block from the strip. When I was there last ...
- Thu Aug 25, 2022 4:18 pm
- Forum: Personal Consumer Issues
- Topic: Las Vegas--recommended activities?
- Replies: 40
- Views: 3903
Re: Las Vegas--recommended activities?
I going to disagree. I did this on several trips, but the amount of time it takes to find the loyalty desk, get sign up for the players club, then play your $10 match play with its EV of $4.80 just isnt worth it. I might also add that with staffing shortages, the lines at the players clubs is only getting longer.hicabob wrote: ↑Thu Aug 25, 2022 1:27 pm The coupon books most casinos give out to guests are a good boglehead way to "sample" gambling. Get them from your gambling averse co-workers too and have the odds hugely in your favor while the coupons last. I second that the Atomic testing museum is very interesting.
- Tue Aug 16, 2022 12:59 pm
- Forum: Personal Finance (Not Investing)
- Topic: Choosing healthcare option - would lose HSA benefit - help with decision
- Replies: 11
- Views: 695
Re: Choosing healthcare option - would lose HSA benefit - help with decision
Not sure you gave us enough information about your situation to really help you decide. First of all do you already max out all tax advantaged accounts at your disposal along with maxing out the HSA?
What is your marginal tax rate?
If moving completely to your wife's Healthcare plan will save you $2500/year in premium expense but you will loose the $7200 HSA contribution option, it still sounds like a no brainer to switch plans and lose access to contribute to an HSA.
What is your marginal tax rate?
If moving completely to your wife's Healthcare plan will save you $2500/year in premium expense but you will loose the $7200 HSA contribution option, it still sounds like a no brainer to switch plans and lose access to contribute to an HSA.
- Mon Jun 21, 2021 5:10 pm
- Forum: Personal Consumer Issues
- Topic: Two weeks stay in Cancun
- Replies: 24
- Views: 3184
Re: Two weeks stay in Cancun
A few thoughts. You can get pretty reasonable deals on all inclusive properties in CUN and surrounding areas. Just find one that has an Asian restaurant in it. Also check out redweek. People sell their timeshare weeks generally in 7 day increments. You could also consider sending them a little further south areas like Playa del Carmen, Cozumel, Tuluum, Costa Maya. All within an hour or so drive, but not as touristed.
- Mon Jun 21, 2021 5:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: Have Any Bogleheads Sold Their House On Redfin?
- Replies: 15
- Views: 2724
Re: Have Any Bogleheads Sold Their House On Redfin?
Yes, that is correct. Even if you hired an agent, they may set up the photo appointment for you, but you still have to pay for it. Smaller homes were $150 for photos. I was selling what would be considered a 1st time homebuyer type home , for that reason I offered a buyer's agent commission.
- Mon Jun 21, 2021 4:58 pm
- Forum: Personal Finance (Not Investing)
- Topic: Have Any Bogleheads Sold Their House On Redfin?
- Replies: 15
- Views: 2724
Re: Have Any Bogleheads Sold Their House On Redfin?
I paid $300 for the Flat fee MLS listing to an agent. Just gave him the home details and posted it.
I paid another $200 for professional photos to a photographer. Just look at some Zillow listings in your area you will see some images have the photography company name in the corner. Google them and set up an appointment.
I paid another $200 for professional photos to a photographer. Just look at some Zillow listings in your area you will see some images have the photography company name in the corner. Google them and set up an appointment.
- Mon Jun 21, 2021 4:42 pm
- Forum: Personal Finance (Not Investing)
- Topic: Have Any Bogleheads Sold Their House On Redfin?
- Replies: 15
- Views: 2724
Re: Have Any Bogleheads Sold Their House On Redfin?
I didn't use redfin, but I did just find a flat fee MLS listing service for $300. Getting listed on the MLS automatically pushed the Zillow/Trulia ads. I posted in my listing that I was willing to pay a 2.5% buyer's agent commission. You dont have to though. I got professional photos done as well. Cost me $200. Got my house under contract in 5 days. Paid the same flat fee MLS agent $250 to review and help write counter offers.
- Mon Jul 20, 2020 12:38 pm
- Forum: Investing - Theory, News & General
- Topic: Convince me not to sell all my US equities to Cash temporarily
- Replies: 135
- Views: 13643
Convince me not to sell all my US equities to Cash temporarily
Hi Everyone. For context, I'm 36 years old, married , one child. Less than $500k invested (index funds). 80/20 portfolio. I'm having a really hard time right now, not wanting to temporarily sell all my US equities to cash. The way that US stocks have rebounded baffles me and US equities seem completely disconnected from the economy. The pandemic is only getting worse in the US, yet stocks have regained most of their losses. I am not one to try to time the market. I held the course through the last dip and only re-balanced my portfolio. Why is this time different? The continued rise of US equities is baffling and I haven't read one good article on what is driving what seems like extreme valuations. The way I see it, it seems that there is a ...
- Wed Feb 12, 2020 10:24 am
- Forum: Personal Consumer Issues
- Topic: Moving out of US for about 12-14 months : Suggestions requested on storage
- Replies: 26
- Views: 2086
Re: Moving out of US for about 12-14 months : Suggestions requested on storage
Not sure what what your car is worth, but it being only 5 years old, I would expect $1500 -$2500 worth of depreciation to occur over 12-14 months, plus the cost to store it. In my town that is $60 -$80 per month for uncovered storage. Seems like selling it is a better option. As for storage, medium size storage unit will cost $200-$400/month. When I was younger, my partner and I decided to travel for a year. I bought an old box truck with a 10x20 ft cargo box on the back. I paid $2500. It was old and tired. Filled it with all of our belongings and put it on a storage yard for $80/month. Once we returned and got settled again, We were able to sell the box truck for almost what we paid for it. If it were me, this is the route I would recommend.
- Thu Jan 16, 2020 11:37 am
- Forum: Personal Investments
- Topic: Anything else I need to be doing for retirement?
- Replies: 25
- Views: 3186
Re: Anything else I need to be doing for retirement?
We dont know your tax situation, but for me, I would be looking at contributing to a traditional pre tax retirement account until I got out of the 22% tax bracket. Once dropping below that, then a roth could be a good option. You havent given us much details about your situation.
- Thu Jan 16, 2020 10:53 am
- Forum: Personal Finance (Not Investing)
- Topic: $400,000 Cash: Pay Off Rental v. New Home Down Payment
- Replies: 18
- Views: 1958
Re: $400,000 Cash: Pay Off Rental v. New Home Down Payment
You state your wife is risk adverse. Why not a combo of the first two options? Pay 20 to 30% down on the property and finance into a 15 year loan. Rates are around 2.75% right now. With interest rates that low it hard not to want to invest the rest.
Paying down the rental property is likely the least desirable option as it will increase your tax liability.
Paying down the rental property is likely the least desirable option as it will increase your tax liability.
- Tue Jan 14, 2020 12:22 pm
- Forum: Personal Consumer Issues
- Topic: Credit Card Question
- Replies: 13
- Views: 1314
Re: Credit Card Question
Why not just have 2 credit cards? You can both get the same credit card. Citi Double cash is one of the best 2% cashback cards.
If you want travel rewards there are many ccs out there. Depends on your travel preferences. Some of us have many credit cards. Check out doctor of credit.
If you want travel rewards there are many ccs out there. Depends on your travel preferences. Some of us have many credit cards. Check out doctor of credit.
- Mon Dec 30, 2019 5:01 pm
- Forum: Personal Finance (Not Investing)
- Topic: home purchase
- Replies: 15
- Views: 1369
Re: home purchase
At your income I'd suggest saving 20% (to avoid PMI) then financing on a 15 year loan. Rates are as low as 2.75% right now. If you don't want to be in debt for 15 years then overpay the mortgage payment and pay it off sooner. At your income level it is also important that you max out any tax advantage space available to you or your spouse. This could include two 401ks, two back door Roths, maybe an HSA, spousal Trad IRA, Deferred Comp ,if it is available to you.
- Fri Dec 06, 2019 12:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: How much money should this retired couple withdraw from their Traditional IRA?
- Replies: 11
- Views: 1710
Re: How much money should this retired couple withdraw from their Traditional IRA?
Based on the social security calculater found here https://www.fool.com/retirement/2016/06/06/social-security-tax-calculator-are-your-retirement.aspx#results and the info you provided here, I get $20,300. The value is a little bit more because this article is not be updated for 2019 tax info. I believe updated for 2019 the optimal amount would be $20,900. I used this calculator https://www.irscalculators.com/tax-calculator (In the annual wages area I put $24,100 which would be $20,900 IRA withdrawal plus the $3200 in taxable interest). I am not a tax professional, and I would suggest consulting one. I would suggest withdrawing from his account first as he will begin RMDs a year sooner, but that would also depend on how much is in his IRA ve...
- Thu Oct 10, 2019 12:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: extra $2000/month?
- Replies: 14
- Views: 3180
Re: extra $2000/month?
I agree. 4.75% risk free return is pretty good. You are already maxing out all of your tax advantaged space and have a good emergency fund. Pay down the mortgage. If you have access to an HSA, this is another option for tax savings.
- Wed Sep 25, 2019 5:31 pm
- Forum: Personal Consumer Issues
- Topic: Recommend A Travel Site
- Replies: 16
- Views: 1848
Re: Recommend A Travel Site
Your best option for cheap business class is going to be Using MR points and transfer to BA then to Iberia. Iberia flies MIA-MAD. This would cost 34k miles one way in business. Award availability is generally sparse on this route. No need to hop through BA to get to Iberia as MR transfer straight to Iberia. Also I forgot but Amex MR has a transfer bonus of 40% to BA/Aer LIngus/Iberia right now through 10/1 that would make it much cheaper on points. Since OP is in Atlanta they'd likely either need to find AA award saver availability to get to MIA or do it on two separate tickets which introduces a number of risks which can be manageable but OP needs to be aware of them. Thanks for the clarification, couldnt remember if MR transferred direct...
- Wed Sep 25, 2019 4:19 pm
- Forum: Personal Consumer Issues
- Topic: Recommend A Travel Site
- Replies: 16
- Views: 1848
Re: Recommend A Travel Site
Your best option for cheap business class is going to be Using MR points and transfer to BA then to Iberia. Iberia flies MIA-MAD. This would cost 34k miles one way in business. Award availability is generally sparse on this route.
- Mon Sep 23, 2019 4:58 pm
- Forum: Personal Consumer Issues
- Topic: Where do you buy parts for DIY Auto repairs
- Replies: 46
- Views: 4893
Re: Where do you buy parts for DIY Auto repairs
Not sure if in this case you can just use ordinary coolant, but when I buy auto parts I look at Napa, O'reilleys, Autozone, whichever. Find the cheapest price online. Then use a site like giftcardwiki to find resale gift cards to get an additional discount (be aware that some online gift cards can only be used for instore purchases)
- Wed Sep 18, 2019 11:19 am
- Forum: Personal Finance (Not Investing)
- Topic: Plan for 2 Incomes to 1 and Mortgage Payoff
- Replies: 15
- Views: 1440
Re: Plan for 2 Incomes to 1 and Mortgage Payoff
You have significant taxable and cash reserves, you are interested in paying off your mortgage in 5 years or so, but you financed into a 30 yr loan? You can refinance to a 15 year for around 3.375% today. It is probably worth refinancing if you plan to keep the home.
Seems like now is the time for your wife to not work full time, before the kids both enter primary school. In a couple of years both kids will be in school from 8-3 with after school sports often 8-5.
My opinion, dont contribute any more to taxable unless you get that mortgage rate down. Max out all tax advantaged accounts first. Any excess income that would normally go to taxable, put on the mortgage.
Seems like now is the time for your wife to not work full time, before the kids both enter primary school. In a couple of years both kids will be in school from 8-3 with after school sports often 8-5.
My opinion, dont contribute any more to taxable unless you get that mortgage rate down. Max out all tax advantaged accounts first. Any excess income that would normally go to taxable, put on the mortgage.
- Tue Sep 17, 2019 1:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Two Chase Sapphire Reserve Cards or one CSR + 1 other
- Replies: 12
- Views: 1951
Re: Two Chase Sapphire Reserve Cards or one CSR + 1 other
Another thing to add. The Hilton Aspire is literally one of the best cards out there if you can maximize the value. Signing up in November will allow you to triple dip the $250 airline credit ($750 value). You can also likely double dip the $250 resort credit ($500) at month 13. For example, I was able to use the $250 resort credit by getting the Hilton Whistler Resort to buy lift tickets for me. Hilton Diamond status can also be quite valuable if you stay in Hilton properties frequently. Lounge access and upgrades. I've also been able to use the Hilton Diamond status to status match to other programs and get additional value. At month 13 after double dipping the $250 resort credit, downgrade to the no fee version and hope for an upgrade of...
- Tue Sep 17, 2019 12:56 pm
- Forum: Personal Finance (Not Investing)
- Topic: Two Chase Sapphire Reserve Cards or one CSR + 1 other
- Replies: 12
- Views: 1951
Re: Two Chase Sapphire Reserve Cards or one CSR + 1 other
a different idea from a seasoned churner... My partner and I have just one CSR. Every 13 months you rotate out who has the CSR. One person downgrades to the freedom unlimited the other person upgrades to the CSR. The reason to do this is because it is possible to get two $300 travel credits and pay just one $450 annual fee. Basically you will have a few weeks to use up your $300 travel credit once the annual fee hits. One issue with this is that the partner that has the Freedom can no longer transfer to partners. This has been an issue in a few case when I wanted to use up some United Miles in my partners account, but was unable to transfer miles over to their account. I think that having an Amex Platinum at the same time can make sense too...
- Tue Sep 17, 2019 12:24 pm
- Forum: Personal Finance (Not Investing)
- Topic: Renting while working, buying at retirement?
- Replies: 13
- Views: 1876
Re: Renting while working, buying at retirement?
This topic comes up a lot. It's perfectly reasonable to rent. Owning isn't all its cracked up to be. Those people living in areas that have seen significant appreciation are in good shape for now, but historically US housing prices have increased at less than the rate of inflation. A recent experience for me has shown that fairly reasonable selling costs for a home can easily be 20%. This includes 6% real estate commissions, covering buyer's closing costs, sellers closing costs, repairs, and carrying the mortgage while its up for sale. I also agree, that when people buy they often buy more house than they would if they just rented. Home maintenance costs is often underestimated. I estimate that for my modest home maintenance costs average a...
- Tue Sep 17, 2019 12:13 pm
- Forum: Personal Investments
- Topic: Laid off at 62; need to move some money to cash from retirement account
- Replies: 21
- Views: 5123
Re: Laid off at 62; need to move some money to cash from retirement account
Seems reasonable that you should consolidate all of your old 401ks into one Traditional IRA. Since DH is over age 59.5 you have access to penalty free withdrawals.
A lot of unanswered questions here. Are either of you working or planning on going back to work?
Do you have any other sources of income? Pensions, Realestate, etc.? If not, for tax purposes, it may be advantageous to limit your withdrawals until 2020. How much income did you have in 2019? If you plan on having no earned income in 2020, you can withdraw $24,400 tax free and only 10% tax on the next $19,750 if married filing jointly.
A lot of unanswered questions here. Are either of you working or planning on going back to work?
Do you have any other sources of income? Pensions, Realestate, etc.? If not, for tax purposes, it may be advantageous to limit your withdrawals until 2020. How much income did you have in 2019? If you plan on having no earned income in 2020, you can withdraw $24,400 tax free and only 10% tax on the next $19,750 if married filing jointly.
- Fri Sep 13, 2019 3:57 pm
- Forum: Personal Investments
- Topic: 29 yr old - looking for advice - open to all
- Replies: 1
- Views: 626
Re: 29 yr old - looking for advice - open to all
You say you are putting $1075/month or $12,900 per year into your 401k and you say you are in the 24% tax braket. I'd be maxing out the 401k every year with $19k. What about your spouse? If they dont have a 401k from work you can also contribute $6k to Traditional IRA for them.
- Wed Aug 28, 2019 4:22 pm
- Forum: Personal Finance (Not Investing)
- Topic: Credit card miles or cashback for travel to wedding
- Replies: 20
- Views: 1614
Re: Credit card miles or cashback for travel to wedding
All depends on how far you want to go. First I would check out google flights and see who has the best schedule from your home airport to the wedding destination and collect points accordingly. It shouldn't be that hard to acquire enough credit cards to cover 7 rt tickets on the same flight. I be looking at points currencies that allow you to just book a paid flight like Chase UR or Altitude Reserve, Barclays arrival, etc..
- Tue Aug 20, 2019 12:42 pm
- Forum: Personal Consumer Issues
- Topic: Sedona and ________ trip In February with 3 and 5 year old
- Replies: 12
- Views: 1225
Re: Sedona and ________ trip In February with 3 and 5 year old
I was going to add, that snow is possible in Sedona that time of year. Its likely to be cold.
- Thu Aug 15, 2019 7:31 pm
- Forum: Personal Investments
- Topic: Review 45yo
- Replies: 5
- Views: 1376
Re: Review 45yo
Your porfolio is way to complex, includes way too may funds, is not very transparent. 80/20 allocation is reasonable for someone your age. Common advice is to keep your bond allocation out of your taxable accounts. Your wife should consolidate her old 401ks into a single institution like Vanguard, Schwab, or fidelity. Once there you will have access to very low cost Index funds and etfs which much lower fees than here existing options.
Try to consolidate at one institution. I have both Vanguard and Schwab. Customer Service is better at Schwab plus you can have an attached bank account at Schwab with a debit card.
Consider a bogleheads style 3 or 4 fund portfolio for simplicity.
Try to consolidate at one institution. I have both Vanguard and Schwab. Customer Service is better at Schwab plus you can have an attached bank account at Schwab with a debit card.
Consider a bogleheads style 3 or 4 fund portfolio for simplicity.
- Thu Aug 08, 2019 5:23 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Life Experience. Credit Card Rewards and Transfer Bonus.
- Replies: 58
- Views: 3800
Re: Real Life Experience. Credit Card Rewards and Transfer Bonus.
We got almost $7k, IIRC, in cash and miles in 2017 by churning CCs. But once we hit up against Chase's 5/2 rule, we largely stopped. Next year, most of our 'new' cards will fall off our credit report, and we'll start churning again. I've been over 5/24 since the day it became a thing 3 or 4 years ago. Still lots of cards to sign up for. Amex is probably the easiest. BarclayCard has some good cards that can be churned every year I think, but we really want to get the Chase United card. We've already gotten points for Delta's Amex card, but those are once per lifetime. Which other Amex cards give good benefits, assuming no business ownership? You got the Delta Platinum. I actually Just got the Delta gold a 2nd time in less than 2 years becau...
- Thu Aug 08, 2019 5:16 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Life Experience. Credit Card Rewards and Transfer Bonus.
- Replies: 58
- Views: 3800
Re: Real Life Experience. Credit Card Rewards and Transfer Bonus.
Here are the details of what I've redeemed with miles, excluding hotels: These are things I would never actually pay *cash* for but I find there's something thrilling about getting them for pennies on the dollar. Time to start planning the next one! I'm jealous, but at this point in my life I dont have that much flexibility in my travel with limited time off and a young family. For us in the past few years exclusively USA/Canada/Hawaii/Mexico/Costa Rica. Since 2016 we have been to Hawaii 3 times, Mexico 3 times, Whistler 3 times, Costa Rica, and a host of other domestic trips. I also collect hotel points so many of the hotels were paid for by points as well. Before I had a child , my wife and I did Cathay back in for to SE Asia several tim...
- Thu Aug 08, 2019 5:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Life Experience. Credit Card Rewards and Transfer Bonus.
- Replies: 58
- Views: 3800
Re: Real Life Experience. Credit Card Rewards and Transfer Bonus.
I've been over 5/24 since the day it became a thing 3 or 4 years ago. Still lots of cards to sign up for. Amex is probably the easiest.willthrill81 wrote: ↑Thu Aug 08, 2019 5:03 pm We got almost $7k, IIRC, in cash and miles in 2017 by churning CCs. But once we hit up against Chase's 5/2 rule, we largely stopped. Next year, most of our 'new' cards will fall off our credit report, and we'll start churning again.
- Thu Aug 08, 2019 4:36 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Life Experience. Credit Card Rewards and Transfer Bonus.
- Replies: 58
- Views: 3800
Re: Real Life Experience. Credit Card Rewards and Transfer Bonus.
Sky is the limit. There are alot of people more gung ho then me. My spreadsheet says I redeemed 1,956,473 points last year for an estimated $29,168 value in flights, hotels, rental cars, cash etc... That's almost exactly what you would have gotten as "cash back" with a 1.5 cent per point (cpp) charge card. If Fidelity (or anyone else) still has a 2cpp cash back card, you'd have gotten quite a bit more, and had money left over after paying for those "flights, hotels....". RM I dont think so. I got an estimated $29,168 worth of value from the 1,956,473 points I redeemed. If I had put the $29,168 on a 2% credit card I would have received $583 in cash back, but that isnt related to this. I accumulated those points largely f...
- Thu Aug 08, 2019 4:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Life Experience. Credit Card Rewards and Transfer Bonus.
- Replies: 58
- Views: 3800
Re: Real Life Experience. Credit Card Rewards and Transfer Bonus.
Sky is the limit. There are alot of people more gung ho then me. My spreadsheet says I redeemed 1,956,473 points last year for an estimated $29,168 value in flights, hotels, rental cars, cash etc...
- Thu Aug 08, 2019 4:19 pm
- Forum: Personal Finance (Not Investing)
- Topic: Real Life Experience. Credit Card Rewards and Transfer Bonus.
- Replies: 58
- Views: 3800
Re: Real Life Experience. Credit Card Rewards and Transfer Bonus.
j0nnyg1984 wrote: ↑Wed Aug 07, 2019 6:53 pm It’s pretty annoying when you get to the end of cards, though. I hit this wall a few years ago and haven’t “played the game” since.
I'm a seasoned churner, and there are still some options out there, that are very lucrative even for those who have been in the game a while.
- Fri Jul 19, 2019 10:54 am
- Forum: Personal Finance (Not Investing)
- Topic: Help, Single Filer try to maintain 0% LT capital gains tax
- Replies: 7
- Views: 1155
Re: Help, Single Filer try to maintain 0% LT capital gains tax
OP here. So the standard deduction of $12,200 reduces taxable income right? I used the wording "taxable income" in my scenario but I'm not sure if the way I interpret taxable income is the same way the IRS does. So the standard deduction reduces taxable income right for the purposes of calculating the capital gains tax?
- Thu Jul 18, 2019 5:13 pm
- Forum: Personal Finance (Not Investing)
- Topic: Help, Single Filer try to maintain 0% LT capital gains tax
- Replies: 7
- Views: 1155
Help, Single Filer try to maintain 0% LT capital gains tax
I have a friend who works seasonally in the USA (USA citizen) then travels mostly in SE Asia for the rest of the year. He made a small investment in a hostel. He and his partners recently sold the hostel and now he has a capital gain in the range of $20k-$30k. Originally he was expecting to work more an earn wages of around $50k in 2019, but his job has been delayed, so now he expects to only earn about $34k. The top of the lt capital gains 12% tax bracket for single filers is $39,375. In order to make this work, he can put $6k into a traditional IRA. What I don't understand is how the standard deduction of $12k fits into this. Here is the Scenario: Wages $34,000 LT Capital Gains $23,374 Gross $57,374 less T-IRA -$6,000 Net $51,374 less Std...
- Tue Jul 16, 2019 4:57 pm
- Forum: Personal Finance (Not Investing)
- Topic: Buying a home; Very HCOL Area
- Replies: 40
- Views: 5429
Re: Buying a home; Very HCOL Area
New York times has the most comperhensive buy vs rent calculator.
One of the biggest questions is how long do you plan to live in the area.
Code: Select all
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
- Wed Jul 10, 2019 10:55 am
- Forum: Personal Finance (Not Investing)
- Topic: applying for business credit card
- Replies: 10
- Views: 1208
Re: applying for business credit card
When you apply for a business credit card as a sole proprietor you are usually asked about your total income. You put your income from your W2 on the application. The do want to know your "business income" though. Consider a Chase Business Preferred. Its got one of the best signup bonuses out there.
- Wed Jul 10, 2019 10:41 am
- Forum: Personal Finance (Not Investing)
- Topic: Home Refinance
- Replies: 25
- Views: 2497
Re: Home Refinance
The change in the interest rate from 3.875% to 3.625% is a savings of $750 in interest per year on $300k. That isnt much savings, and often the cost of refinancing can be hard to flesh out. Make sure you are aware of all of the fees and costs. As others have said, it is probably not worth it.
- Tue Jul 02, 2019 3:54 pm
- Forum: Personal Finance (Not Investing)
- Topic: Estimated SS and Windfall Elimination Provision
- Replies: 17
- Views: 1945
Re: Estimated SS and Windfall Elimination Provision
This is actually fairly easy to calculate. In your ss.gov profile you should be able to pull your earnings record. Once you've got this, get the index factor table from the social security website. Mulitply each of your years of social security earnings by the index factor for that year. Then sum up all of the values and divide by 35 years, then divided by 12 months. 35/12. This will give you your current estimated full retirement age monthly benefit amount. Then you need to calculate the impact of the WEP. Because you will have less than 20 years of substantial earnings you get the maximum deduction which is 40%. People without the WEP get 90% of the first $926 in average monthly index adjusted earnings, so $833. You will only get 40% of t...
- Tue Jun 25, 2019 3:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: Help choose COLA Pension or Not
- Replies: 25
- Views: 2007
Re: Help choose COLA Pension or Not
No, wife passed away 2 years ago.
- Tue Jun 25, 2019 1:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Help choose COLA Pension or Not
- Replies: 25
- Views: 2007
- Tue Jun 25, 2019 11:58 am
- Forum: Personal Finance (Not Investing)
- Topic: Help choose COLA Pension or Not
- Replies: 25
- Views: 2007
Help choose COLA Pension or Not
My father is 64 soon to be 65. He will be eligible for his pension at age 65 beginning Sept. 1, 2019.
He has two Options:
a) $2650 per month beginning Sept. 1, 2019. No cost of living adjustment.
b) $1946 per month beginning Sept. 1, 2019 with Cost of living adjustment. The COLA is this.. It is tied to the Consumer Price Index. If the CPI increases less than 1% then no COLA for the year. The COLA cannot increase more than 6% even if the CPI does.
Which is the better option? He is a Widower so no survivor benefit.
He is planning file for SS at FRA. Benefit of $1850/month. He has a second small pension of $700/month.
He has retirement assets of about $1 million.
Edited to add more details.
He has two Options:
a) $2650 per month beginning Sept. 1, 2019. No cost of living adjustment.
b) $1946 per month beginning Sept. 1, 2019 with Cost of living adjustment. The COLA is this.. It is tied to the Consumer Price Index. If the CPI increases less than 1% then no COLA for the year. The COLA cannot increase more than 6% even if the CPI does.
Which is the better option? He is a Widower so no survivor benefit.
He is planning file for SS at FRA. Benefit of $1850/month. He has a second small pension of $700/month.
He has retirement assets of about $1 million.
Edited to add more details.
- Tue May 28, 2019 12:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Understanding the Wiki - Traditional versus Roth
- Replies: 10
- Views: 1051
Re: Understanding the Wiki - Traditional versus Roth
I am currently in the 12% marginal tax bracket and my contributions to a T-IRA provide 12% tax savings. During early retirement I plan to do $40k per year of Roth Conversions with no other earned income ( I plan to live off of taxable accounts). My tax rate on the first $40k of Roth Conversions under current tax laws is about 3.9%. How is that not withdrawals from the bottom? One has to distinguish the tax treatment of previous contributions ("water under the bridge") vs. how any future contributions (that one can still affect) will be taxed. You already have enough (from previous contributions) in traditional to support $40K/yr withdrawal/conversion, even if you never make another traditional contribution - correct? If so, then ...
- Tue May 28, 2019 11:22 am
- Forum: Personal Finance (Not Investing)
- Topic: Understanding the Wiki - Traditional versus Roth
- Replies: 10
- Views: 1051
Re: Understanding the Wiki - Traditional versus Roth
Doing Roth conversions during early retirement is definitely a good tax strategy, but it's not the same thing as "taking contributions from the bottom". Every year you make Traditional withdrawals, those withdrawals stack up next to the tax bracket structure just like when you're working. If you make $100,000 per year withdrawals from Traditional accounts, the taxes are computed the same way as if you earned $100,000 (basically- there are other differences like payroll tax but let's ignore those for a moment). I think the Future Value function in Excel is a really useful tool for estimating future income. Say you have $250,000 of traditional savings, expect 5% growth after inflation, and plan to retire in 20 years and will withdr...