Search found 275 matches

by Iridium
Mon Nov 05, 2018 2:22 pm
Forum: Personal Consumer Issues
Topic: Help Me Get Rid of Chubb/Reduce Cost of Homeowners Insurance
Replies: 10
Views: 1315

Re: Help Me Get Rid of Chubb/Reduce Cost of Homeowners Insurance

Earlier this year (February renewal date) I tried to get the broker to reduce the cost of the policy by figuring out what I could drop (if anything). This went nowhere - every time I cut one thing, another thing increased. It was incredibly frustrating (I went back on forth with the broker for week...
by Iridium
Sun Oct 28, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: How To Handle Auto Accident Insurance Company Letter
Replies: 29
Views: 3810

Re: How To Handle Auto Accident Insurance Company Letter

My DW was recently involved in an Auto Accident in New Jersey and the Other Driver was at fault. The Other driver's insurance company sent a letter asking her to contact them as soon as possible to possibly file bodily injury claim with them. Our question is whether we need to utilize a Personal In...
by Iridium
Fri Oct 26, 2018 8:07 pm
Forum: Investing - Help with Personal Investments
Topic: If I contributed 30k to a 529 last year, but contributed more this year, will I be penalized?
Replies: 13
Views: 1437

Re: If I contributed 30k to a 529 last year, but contributed more this year, will I be penalized?

Given how we contributed over the limits—what's going to happen with the normally tax-free growth? Or is there really no "limit" on this front, and the only limits are purely around the contribution tax deduction? For IRAs, for example, I know there's a penalty of 6% of the excess money per year un...
by Iridium
Wed Oct 24, 2018 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: Pre-market trading with Merrill Edge. Newbie mistake :(
Replies: 15
Views: 1494

Re: Pre-market trading with Merrill Edge. Newbie mistake :(

Seriously?? Why would someone need to specify it as a pre-market order?? If I placed it at 5:30 in the morning, it should go without saying that I would want it to execute at any time after I placed the order! It seems completely redundant to me that I should have to "specify" it as a pre-market tr...
by Iridium
Tue Oct 23, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP purchase doesn't add up
Replies: 12
Views: 878

Re: ESPP purchase doesn't add up

The only way it makes any sense at all to me is if they charged you a ~$6 commission for purchasing the shares, which would be pretty bizarre. I would expect that all the reports are generated automatically, which makes it so odd that there appears to be a math mistake. I even tried some of the for...
by Iridium
Tue Oct 23, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP purchase doesn't add up
Replies: 12
Views: 878

Re: ESPP purchase doesn't add up

The only way it makes any sense at all to me is if they charged you a ~$6 commission for purchasing the shares, which would be pretty bizarre. I would expect that all the reports are generated automatically, which makes it so odd that there appears to be a math mistake. I even tried some of the form...
by Iridium
Mon Oct 22, 2018 4:17 am
Forum: Investing - Help with Personal Investments
Topic: Any government guaranteed money market funds available?
Replies: 8
Views: 987

Re: Any government guaranteed money market funds available?

Hello, I wanted to know if there are any U.S. government guaranteed money market funds available? <Snip> I know about Ally bank and Synchrony. I am looking to invest a sum of cash that would pay a competitive interest rate and would be guaranteed by the U.S. government. Thank you. A government guar...
by Iridium
Fri Oct 19, 2018 1:06 pm
Forum: Investing - Theory, News & General
Topic: How to recognize loss on $0.00 call option
Replies: 7
Views: 607

Re: How to recognize loss on $0.00 call option

Contact your broker. I believe that the vast majority have a way for you to give worthless assets to them (this is common in bankruptcies when it is clear the common shares won't get anything, but the liquidation drags on for years). Ask about the fee, as it may not be free. Edit: I am assuming that...
by Iridium
Tue Oct 09, 2018 5:17 pm
Forum: Investing - Theory, News & General
Topic: How to get paid for announcing your buying schedule commitment on pre-set date (no pre-set price) ?
Replies: 5
Views: 671

Re: How to get paid for announcing your buying schedule commitment on pre-set date (no pre-set price) ?

Unless you are willing to take the equity risk starting today, I do not see a way to get paid for committing to purchase at market price on a particular day. Rather than paying you to commit to purchasing shares at the closing price, the seller can simply participate in the closing cross and get the...
by Iridium
Tue Oct 09, 2018 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Visa Signature: Car Rental, No Collision/Comprehensive
Replies: 17
Views: 1734

Re: Fidelity Visa Signature: Car Rental, No Collision/Comprehensive

Also $500 is a scratch. If you got rear-ended and anything got bent or broken it was close to $5000. You were lucky you didn't get hit with loss-of-use, which your card wouldn't have covered. Fidelity visa covers loss-of-use; even Amex platinum doesn't "Covered losses include: • Physical damage and...
by Iridium
Mon Oct 08, 2018 9:44 pm
Forum: Investing - Theory, News & General
Topic: ESPP Discount Tax in plain English
Replies: 4
Views: 419

Re: ESPP Discount Tax in plain English

There are two different definitions of bargain element TurboTax neglected to mention: Qualifying: Market price at end of purchase period - price paid Disqualifying: Market price at beginning of purchase period - price paid The benefit is subtle, but since stock prices rise over time, the qualifying ...
by Iridium
Thu Oct 04, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance: Is this a Qualifying Life Event (QLE)
Replies: 9
Views: 704

Re: Health Insurance: Is this a Qualifying Life Event (QLE)

Interesting question. Is your wife in or about to start an open enrollment period, or is this a mid-plan year change? This site: https://khn.org/news/switching-to-a-spouses-plan-can-be-difficult-if-timing-isnt-right/ claims it is up to your employer whether to count 'spouse open enrollment' as a QLE.
by Iridium
Mon Oct 01, 2018 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance without Homeowner's/Rental Insurance
Replies: 7
Views: 669

Re: Umbrella Insurance without Homeowner's/Rental Insurance

So now, I am shopping for umbrella insurance but the problem I am running into is that most companies including esurance is that they won't give me umbrella policy unless I have a homeowner's or rental insurance policy as well. The problem is that I am not a homeowner or renter. I live in a very hi...
by Iridium
Fri Sep 28, 2018 4:13 pm
Forum: Investing - Theory, News & General
Topic: SEC charges Musk with Fraud!
Replies: 117
Views: 10806

Re: SEC charges Musk with Fraud!!!

TSLA opened today essentially unchanged from it's after hours price. Efficiency of markets is one of those things I think is poorly understood on this website. You have a pretty nice example from last night. I will readily cop to being totally wrong in my post on the previous page. I had assumed th...
by Iridium
Thu Sep 27, 2018 10:36 pm
Forum: Investing - Theory, News & General
Topic: SEC charges Musk with Fraud!
Replies: 117
Views: 10806

Re: Tesla drops 13% after SEC charges Elon Musk with fraud

My actionable advice is don't worry too much about the 13% figure. After hours trading often gives whacky results. Markets need some time to digest the news before we really know the impact.
by Iridium
Wed Sep 26, 2018 11:29 pm
Forum: Investing - Theory, News & General
Topic: Over SIPC limit
Replies: 7
Views: 961

Re: Over SIPC limit

If my memory serves me well didn’t a brokerage firm headed by a previous Governor of NJ become insolvent after dipping into customer’s funds? I believe that many with over 500k in their accounts had to wait some time to recover their funds. On the positive side (for the SPIC not the broker) Bernie ...
by Iridium
Fri Sep 21, 2018 4:16 am
Forum: Investing - Theory, News & General
Topic: Chase You Invest, is low cost the new default?
Replies: 13
Views: 1764

Re: Chase You Invest, is low cost the new default?

Ok so basically I found out about this new ultra low cost brokerage option from Chase as chronicled in an earlier thread. After looking into it in more depth I still can’t find a catch (aside from it being chase)... 100 free trades plus 2 dollar trades after that or 0 dollar trades for anyone with ...
by Iridium
Wed Sep 19, 2018 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Which mortgage would you prepay?
Replies: 12
Views: 1121

Re: Which mortgage would you prepay?

However, after plugging it into an amortization calculator, it appears I would save more in interest I paid $80k towards mortgage 2 (probably because the balance is higher and the time to anticipated pay-off is longer) instead of mortgage 1. However, I also have to factor in that prepaying mortgage...
by Iridium
Wed Sep 19, 2018 3:50 am
Forum: Personal Finance (Not Investing)
Topic: Which mortgage would you prepay?
Replies: 12
Views: 1121

Re: Which mortgage would you prepay?

However, after plugging it into an amortization calculator, it appears I would save more in interest I paid $80k towards mortgage 2 (probably because the balance is higher and the time to anticipated pay-off is longer) instead of mortgage 1. However, I also have to factor in that prepaying mortgage...
by Iridium
Fri Sep 14, 2018 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Is it a problem that our mortgage lender doesn’t report to credit bureaus?
Replies: 11
Views: 836

Re: Is it a problem that our mortgage lender doesn’t report to credit bureaus?

I guess the other question is.... if they don’t report to credit bureaus, what do they do if we fall behind on the mortgage or default? Will they be somehow harsher or more difficult to deal with? We live in a recourse state, but my understanding is it has some extra protections for homeowners (Mas...
by Iridium
Fri Sep 14, 2018 11:47 am
Forum: Personal Consumer Issues
Topic: Dental Coverage Feedback
Replies: 13
Views: 1079

Re: Dental Coverage Feedback

Am I reading this correctly? With Delta Dental you pay $1013.16/y ($84.83x12) to maybe not have to pay $1250 (max annual benefit)? That...doesn't seem like a good deal. The Dental Plus ($2114 to maybe save $3000) doesn't seem much better. I'm assuming I'm reading this wrong, in which case, please i...
by Iridium
Wed Sep 12, 2018 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: Umbrella Policy: Right amount for $7 mil net worth?
Replies: 76
Views: 11279

Re: Umbrella Policy: Right amount for $7 mil net worth?

I was under the impression that most states(mine does) have laws that protect retirement accts and erisa pensions, along with homes and vehicles. Unless you have substantial tax paid accts and/or luxury toys, why should you be concerned about umbrella policies? Is this a case of being over-insured?...
by Iridium
Tue Sep 11, 2018 3:49 pm
Forum: Investing - Theory, News & General
Topic: Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders
Replies: 20
Views: 5793

Re: Robinhood Is Making Millions Selling Out Their Millennial Customers To High-Frequency Traders

Does this actually matter to Robinhood's customers? By regulation, Robinhood investors are getting no worse than the best market quote (in fact, they probably get some miniscule fraction of a cent extra). If some HFT wants to 'skip the line' by giving Robinhood a kickback, the folks hurt would seem ...
by Iridium
Sat Sep 08, 2018 2:29 am
Forum: Personal Consumer Issues
Topic: Best cloud hosting provider?
Replies: 4
Views: 702

Re: Best cloud hosting provider?

Note that a CDN is not the same thing as hosting 'in the cloud'. You can sign up for a CDN and point it at any server you want. That will give you fast, low-latency delivery from the CDN's cache without having to manage anything. As an example, Cloudflare is a very popular CDN. They are not a cloud ...
by Iridium
Fri Sep 07, 2018 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Work asking for input on benefits packages
Replies: 14
Views: 1308

Re: Work asking for input on benefits packages

Ask for short term and long term disability insurance. Include option for individuals to pay monthly premium on long term disability. If individual pays premiums, then benefits aren’t taxed. Premiums should only be $20 - $25 per month. Long term disability is good, but one key attribute to ask for ...
by Iridium
Fri Sep 07, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 278
Views: 30336

Re: Do you have an umbrella policy?

For those who have umbrella policies, have you found a better deal if you get that policy with your Auto insurer, home insurer, or an outside vendor? Any recommendations you have on carriers would be appreciated. Thanks Get a quote from your auto. Most companies that write umbrellas want you to hav...
by Iridium
Fri Sep 07, 2018 4:46 pm
Forum: Personal Consumer Issues
Topic: What does a typical homeowners insurance policy have?
Replies: 15
Views: 2040

Re: What does a typical homeowners insurance policy have?

I'm reviving this older thread because as I was recently looking at my homeowner's insurance, the thought occurred to me that I have no idea if I'm adequately insured or not. What do people typically pay? I only pay $294/year, that seems really inexpensive Insurance is more than just limits. Other ...
by Iridium
Fri Sep 07, 2018 12:27 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 278
Views: 30336

Re: Umbrella insurance..who has it? Is it recommended?

USAA mentioned them paying to defend those with umbrella, is that not the case with liability? Virtually always the case. My best understanding of the difference is this: Auto and home insurance policies have a duty to defend. However, the duty is directly tied to the liability insurance itself. Ex...
by Iridium
Thu Sep 06, 2018 11:41 pm
Forum: Investing - Help with Personal Investments
Topic: Financial Planner really expensive?
Replies: 19
Views: 2070

Re: Financial Planner really expensive?

schleprock117 wrote:
Thu Sep 06, 2018 10:12 pm
inbox788 wrote:
Thu Sep 06, 2018 5:32 pm
... Nope, would probably be 1-2 phone calls a day to maybe ensure i'm on track with my retirement goals...
Just wanted to check: 1-2 calls per year, right? If per day, I can't imagine they would keep you as a customer very long, or that the conversations would be very productive.
by Iridium
Thu Sep 06, 2018 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance Recommendations
Replies: 7
Views: 912

Re: Insurance Recommendations

Pretty much anyone who offers renter's insurance will offer insurance on an engagement ring, but you might have to call to get the quote. Generally, I would approach the call as stating up front that you need both renter's insurance and coverage for the engagement ring. Depending on how they approac...
by Iridium
Thu Sep 06, 2018 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: Financial Planner really expensive?
Replies: 19
Views: 2070

Re: Financial Planner really expensive?

Their pricing is not awful relative to the market (1% seems to be considered 'standard'). Financial Engines' corporate philosophy largely follows the Bogleheads philosophy (no experience with their advisors). The real problem/trick is that they are comparing a fixed amount to an annual or monthly am...
by Iridium
Thu Sep 06, 2018 8:08 pm
Forum: Investing - Help with Personal Investments
Topic: Scaring the Old Folks
Replies: 71
Views: 8343

Re: Scaring the Old Folks

...now I am starting to wonder where the idea your expenses will go down comes from. It seems you save on commute, but end up paying more in utilities and entertainment. Where is the big source of savings? For us, our expenses dropped substantially because the house was paid off, the kids were done...
by Iridium
Thu Sep 06, 2018 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: How much Umbrella Insurance coverage needed?
Replies: 65
Views: 12399

Re: How much Umbrella Insurance coverage needed?

(2) Carry enough so that any excess over the quantity in (1) will not make a significant difference in your future lifestyle. In my case, there is likely to be zero lifestyle difference if I have $5m+. Can you explain this criterion? In the hypothetical $10MM judgement w/ $5M umbrella and $5.5M of ...
by Iridium
Thu Sep 06, 2018 2:28 pm
Forum: Investing - Help with Personal Investments
Topic: Scaring the Old Folks
Replies: 71
Views: 8343

Re: Scaring the Old Folks

I saw an article in the paper (think it was WSJ) that said the same thing, but made the point a bit better: as a worker, much of your waking hours are spent on an activity that is pretty cheap: you commute in and maybe buy lunch. Otherwise, pretty much everything you spend 9-5 is covered by your emp...
by Iridium
Wed Sep 05, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 278
Views: 30336

Re: Do you have an umbrella policy?

Note that the MetLife example only supposes that you get sued for a million, it does not actually state that the limit of coverage is a million.

That being said, umbrellas that subtract out the underlying are out there, so like all things umbrella, you need to read the contract to know what you have.
by Iridium
Wed Sep 05, 2018 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 278
Views: 30336

Re: Do you have an umbrella policy?

We have 1mil...i wanted more, but to go to 2mil was more than double the cost. My insurer apparently does NOT like higher umbrella policies! So stayed with what I had for now. Just can't bring myself to pay more than 2x as much. Ah, I see why they're charging more. Usually 2M is less than 1M becaus...
by Iridium
Wed Sep 05, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: I hit the magic side hustle milestone in August
Replies: 19
Views: 4935

Re: I hit the magic side hustle milestone in August

Hey Spoco You could open a LLC and file for an S Corp with IRS. You should be able to save more on taxes. You can open a Solo 401K and save more. Consult with a CPA to get the details. I do not believe that filling as S Corp saves any money compared to sole proprietor. In fact, my understanding is ...
by Iridium
Wed Sep 05, 2018 3:48 pm
Forum: Personal Consumer Issues
Topic: HVAC annual contracts vs yearly annual cleaning
Replies: 32
Views: 2309

Re: HVAC annual contracts vs yearly annual cleaning

Is it the same company? Is there a difference between the $85 tune-up and the tune-up valued at $140?
by Iridium
Wed Sep 05, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in a condo by a university
Replies: 11
Views: 1153

Re: Investing in a condo by a university

Personally, I would not do this. Take your kids' college away from it. Does it make sense to get into the business of investing in campus housing 3-4 hours away from where you live? You are concentrating risk in an area you do not have local knowledge of. In addition, your numbers do not include mai...
by Iridium
Wed Sep 05, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: I hit the magic side hustle milestone in August
Replies: 19
Views: 4935

Re: I hit the magic side hustle milestone in August

Hey Spoco You could open a LLC and file for an S Corp with IRS. You should be able to save more on taxes. You can open a Solo 401K and save more. Consult with a CPA to get the details. I do not believe that filling as S Corp saves any money compared to sole proprietor. In fact, my understanding is ...
by Iridium
Wed Sep 05, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Horrible Experience with Ally New Account Opening Process
Replies: 43
Views: 9186

Re: Horrible Experience with Ally New Account Opening Process

Wait, why does a bank need your credit score in order to open a bank account for you? They aren't extending you credit. Nosiness for the sake of nosiness? Or, they don't want to open an account for anyone who isn't prequalified for other products they might want to sell them later? Nosiness for the...
by Iridium
Tue Sep 04, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: I hit the magic side hustle milestone in August
Replies: 19
Views: 4935

Re: I hit the magic side hustle milestone in August

If there is a question in all of this, I am a bit worried about taxes at the end of the year. I'm looking at right at $70k in self employment income and have planned for about $25k in taxes. Is there any way I can minimize this? If you setup an individual 401k, you should be able to sock away $14k ...
by Iridium
Tue Sep 04, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: Walmart is not Amazon
Replies: 54
Views: 6879

Re: Walmart is not Amazon

ETA - the only actionable item for this thread, in my opinion, is to validate WHOM you are actually buying from for both Amazon and WalMart. There are unfortunately many unscrupulous 3rd party sellers on both. Yes but, in Amazon's case, they will take action to compensate you and jump into reseller...
by Iridium
Tue Sep 04, 2018 2:00 am
Forum: Investing - Theory, News & General
Topic: The impact of future companies on a country's growth prospects?
Replies: 2
Views: 330

Re: The impact of future companies on a country's growth prospects?

This suggests a question: if a country has a market environment that is ideal for new businesses to thrive, how much of that can be captured by the current total market cap of that country? Theoretically, about none of it. Don't forget that the 'total market cap of the country' is no more than the ...
by Iridium
Sun Sep 02, 2018 4:19 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2506

Re: Placing a stop-loss order with vanguard

3. The fee from vanguard is $7.00 for this transaction in addition to the $7.00 fee to buy a stock/eft? No. That is the total commission. No extra charge for stop loss. 4. If the duration is set to 60-day, at the end of the 60-day period I would need to place another stop loss order (assuming the p...
by Iridium
Fri Aug 31, 2018 3:11 am
Forum: Investing - Theory, News & General
Topic: how much is term life insurance worth? (mortality table)
Replies: 11
Views: 1312

Re: how much is term life insurance worth? (mortality table)

1) Members of the IEEE are probably less likely to die then the average population. They are less likely to be in dangerous jobs. They are more likely to be upper middle or upper class (socioeconomic class is very strongly correlated with longevity). My auto carrier seems to believe engineers are le...
by Iridium
Thu Aug 30, 2018 6:53 pm
Forum: Investing - Theory, News & General
Topic: Can margin be beneficial for long-term investing?
Replies: 61
Views: 3779

Re: Can margin be beneficial for long-term investing?

Here is IB's page on comparison of rates across brokers. Clearly IB has the lowest rates according to their chart but I'm trying to figure out how anyone can make money with these interest rates? https://www.interactivebrokers.com/en/index.php?f=18069&gclid=EAIaIQobChMI4oizrcuV3QIVHrjACh2jdgw7EAAYA...
by Iridium
Thu Aug 30, 2018 11:48 am
Forum: Investing - Help with Personal Investments
Topic: Transfer of ESPP shares not allowed
Replies: 4
Views: 271

Re: Transfer of ESPP shares not allowed

My company allows transfers. The reason yours does not may be that the company is entitled to certain deductions if the shares are sold within a couple of years. If the shares are transferred, there is no way for the company to know when shares are sold. Perhaps they would allow transfers after 2 ye...
by Iridium
Tue Aug 28, 2018 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting myself against suit for Personal Injury
Replies: 19
Views: 2653

Re: Protecting myself against suit for Personal Injury

LI guess the first step is to find a lawyer, and have the lawyer contact State Farm. Thanks again. No. Call State Farm today, do not worry about getting your own lawyer until later, if at all. Liability cases should be straight forward from a coverage standpoint, but any delay in reporting a claim ...
by Iridium
Tue Aug 28, 2018 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting myself against suit for Personal Injury
Replies: 19
Views: 2653

Re: Protecting myself against suit for Personal Injury

While insurance varies by state, it is almost certainly the case that your old umbrella provides coverage. In fact, the plaintiff may have somehow found out about it, which is why they are not trying to settle for the limits of your auto. You need to contact State Farm ASAP to report this as a claim...