Bogleheads.org

Whole life is just bond like return. No lipstick on the pig makes it better than that. What is your asset allocation?

Whole life itself does nothing for your estate tax.

I'm wondering if you've actually researched whole life on here. You don't need another thread just to explain why people are so negative against it. There are hundreds of threads explaining while it's junk. Regardless if you are lucky all you get are the return of bonds. Is that what excites you? Not me. Bonds are for safety. Their return sucks.

Use the search box.

Loon11 wrote: ↑Sun Mar 19, 2023 2:14 pm is this really a threat? Doesn't SIPC kick in? I transferred the bulk of my tsp into schwab for the 1K promotion and its done well in swvxx but reading this, makes me worry. It's 500K and don't want to worry about it. Is the treasury money market really safer? This is in an ira - do they charge to move it?

There is no charge to exchange between funds. SIPC doesn't really protect you here, that is more for fraud. They guarantee that if you bought 1 share you really have 1 share. Whether that share has any value is not protected. Don't forget the treasury fund would be state tax free potentially cutting the difference in yield between the two funds.

ekid wrote: ↑Sat Mar 18, 2023 1:04 pm "You will need to initiate a transfer from Fidelity to your current HSA."

Whut?

This should probably read; You will need to initiate at Fidelity a transfer from your current HSA.

Thanks. Much better worded. I edited my post.

Stillwater1971 wrote: ↑Sat Mar 18, 2023 11:09 am

Nate79 wrote: ↑Sat Mar 18, 2023 10:44 am Those fees are high. No need to pay 0.5%, just do a transfer periodically to Fidelity.

I was just looking at Fidelity just now. It looks like Fidelity does not charge any extra fees(except for expense ratios), is this correct? but there appeared to be a "Bookeeping Fee" that is charged to the employer? I don't know if that would be passed down to me since my employer doesn't use Fidelity? And that's assuming there is a fee for it?

Fidelity personal HSA has no fees at all. You can open this on your own, it has nothing to do with your employer. You will need to initiate a transfer at Fidelity to transfer money from your current HSA to Fidelity.

Those fees are high. No need to pay 0.5%, just do a transfer periodically to Fidelity.

Danw wrote: ↑Tue Mar 14, 2023 11:23 am I haven’t changed to a brokerage account for two reasons. I want my Roth conversions to happen the same day and not have to pass through a settlement account. I like being able to direct dividends directly from one fund to another. If I had to pay the $20 fees I would feel differently.
I’ve been thinking of opening a separate brokerage account to buy treasuries but will probably stick with the Treasury Money Market fund.

Vanguard should learn from your reasons and turn those options off because we see them often enough on here they are keeping people on the mutual fund platform. Get with it Vanguard.

Wow. You might want to message Alan S. to comment on your question.

You need a new tax provider as they are incompetent.

Not sure why you think you will have an early withdrawal penalty. Did you do a withdrawal?

Nope the issue from a basic 101 economics perspective is that the risk is being mitigated by the Government. You mess up worth millions of dollars you should suffer the consequences. The Govt stepping in is a get out of jail free card with zero consequences. The modern banking system is inherently fragile because of the manner it operates with limited to no safety net other than the government. That is why the partial repeal of the Dodd-Frank act was such a mess. If bankers and capitalists want the government to step in when they make a royal mess of everything, then a consequence is jail time. Those SVB shareholders and bond holders would disagree with the idea they had zero consequences And yes did any of them make the decisions? Nope. T...

I must not hang out in the right places -- I haven't hard any screaming about "well-connected woke investors". Scroll back some pages and you'll see folks screaming about "moral hazard," that this as a bailout of coastal elites, and and posts blaming SVB failure on ESG policies. Here's one: https://www.bogleheads.org/forum/viewtopic.php?p=7163758#p7163758. Events like this seems to have a way of bringing out the alarmist zero hedge crowd eager to grind their ax. Nope the issue from a basic 101 economics perspective is that the risk is being mitigated by the Government. You mess up worth millions of dollars you should suffer the consequences. The Govt stepping in is a get out of jail free card with zero consequences. The...

Opened a Vanguard brokerage account May 2022, but have had a Roth IRA with Vanguard for over a decade. Pulled some money into Vanguard from my CFG Bank account mid-February (the last ACH from a bank to Vanguard), which were all used to purchase VUSXX. Still had money in settlement fund from other banks that were used to purchased tbills and brokered CD that later matured. Tried to move money from Vanguard settlement fund to Fidelity brokerage account on March 10, 2023, but was blocked online because of new account restrictions. Tried to move even $100 out from my settlement fund to each bank linked to my Vanguard brokerage account, and all attempts (with the exception of CFG) gave me the following error. The shares you’re trying to redeem ...

Just buy treasuries if you are worried about this.

I had a rental property that I sold in 2022 for a profit. I rented it for 4 years 4 months and lived in it the last 5 years and 11 months. Married filling jointly My question is am I able to exclude all the capital gains or only a percentage? I have been reading the IRS tax laws for capital gains exclusions on rental property but I can't find an exact answer. I called the IRS to get guidance but was on hold forever, after going thru all the phone tree. Thanks for any guidance to specific IRS publications We looked at this recently to help out a friend. Our understand wast that you'd still report the sale on your tax returns but since you lived in the home for at least 2 out of the last 5 years and it was your primary home, and you had not ...

... Ok, so it appears there is a portion of time (undetermined) where my investment would be out of SWVXX and not yet in SNSXX (and thus imo, at more risk than just keeping it in SWVXX). So I guess I'll just stay put (for now). When dust settles, I'll move and have learned a valuable lesson... not to chase an extra .15% in yield (because doing so puts me in a Prime Money Market Fund rather than a Trreasury one) which is likely not worth the risk. Do note that even while your "cash" may be in "cash" form held by the brokerage (in between the sweep process into a money market fund), it is still segregated from other assets of the brokerage, and should be returned to you even if the brokerage failed, and in the event that ...

I would, for sure, be thinking along the same lines. Someone put together a list of 10 banks that are closest to failure. Ally bank is on the list. Even if 100% of the money is under FDIC, I still don't want to be in a failing bank. It's a mess and a headache to deal with that. Check your bank's ratings online and see if it gets an A or B. Also, see if you're getting a decent rate. SVB had a bank run because they had terrible rates and people woke up and decided to move to a bank that pays decently. Some banks, such as Merchants Bank of Indiana, have a program that can FDIC insure up to $100 million by sweeping to other banks in the program. It pays 4.34% right now and it goes up shortly after the Fed raises rates. As far as moving to Vang...

Just don't sell them before maturity before you understand the tax implications.....

You don't need to sell everything in one tax year. You could take the mortgage, and then sell from taxable split between multiple years if it can help manage the taxes.

8foot7 wrote: ↑Tue Mar 07, 2023 5:20 pm Wow, lots of folks demonstrating a lack of backbone here. As consumers we shouldn’t tolerate company representatives giving us false information at point of sale and refusing (or being unable to) correct it.

What you call lack of backbone others call having ethical behavior.

Just chat with them and see why it didn't execute. Oh, wait, it's Vanguard. Maybe try smoke signals instead.

Would you borrow at 6.5% to invest in the stock market?

They do not just use Schwab funds. In fact some are from Vanguard. Here is the list:
https://intelligent.schwab.com/page/gui ... -text-2841

Sorry OP, you are wrong. The charge is correct and you owe it. You should pay the charge and move on. If you want this type of benefit in the future then you don't rent through a 3rd party.

mhalley wrote: ↑Thu Mar 02, 2023 10:54 pm Your Hsa company will have a procedure to remove excess contributions plus earnings.
https://smartasset.com/retirement/hsa-e ... tributions

+1 this is the correct answer. The contributions plus earnings must be removed correctly.

My employer HSA is Payflex. I keep some cash in it to keep it open and can act as an emergency fund. As cash builds up from paycheck contributions about once a quarter I do an account transfer initiated from Fidelity. I transfer some, but not all of the cash. It takes about 2 weeks and from Fidelity its pretty simple (all done online, just a few questions to answer and attach a recent statement). I don't transfer all cash so there is no risk of Payflex closing the account. I do this because there is a fee charged by Payflex to invest whereas Fidelity is free. There is no charge by Payflex to do such a transfer. Pretty easy process. Thanks! This is really helpful because it’s exactly what I plan to do. I will use Fidelity for investments an...

My employer HSA is Payflex. I keep some cash in it to keep it open and can act as an emergency fund. As cash builds up from paycheck contributions about once a quarter I do an account transfer initiated from Fidelity. I transfer some, but not all of the cash. It takes about 2 weeks and from Fidelity its pretty simple (all done online, just a few questions to answer and attach a recent statement). I don't transfer all cash so there is no risk of Payflex closing the account. I do this because there is a fee charged by Payflex to invest whereas Fidelity is free. There is no charge by Payflex to do such a transfer. Pretty easy process. Thanks! This is really helpful because it’s exactly what I plan to do. I will use Fidelity for investments an...

My employer HSA is Payflex. I keep some cash in it to keep it open and can act as an emergency fund. As cash builds up from paycheck contributions about once a quarter I do an account transfer initiated from Fidelity. I transfer some, but not all of the cash. It takes about 2 weeks and from Fidelity its pretty simple (all done online, just a few questions to answer and attach a recent statement). I don't transfer all cash so there is no risk of Payflex closing the account. I do this because there is a fee charged by Payflex to invest whereas Fidelity is free. There is no charge by Payflex to do such a transfer.

Pretty easy process.

I saw this on a Facebook post. Is this a scam or is it possible to sell a business, real estate, etc. and pay no tax? "If there is one thing people know about me, it’s that I get off by helping liquor store owners be more profitable as they help people get sloshed. My dream came true yesterday. A businessman in Michigan is selling his liquor stores and is concerned, quite rightly, about paying a huge amount of capital gains taxes from the sale. I told him the good news that this amazing trust is the ONLY solution out there that ELIMINATES capital gain taxes - it doesn’t just defer them. All he has to do is sell his assets to the trust at their original acquisition price…. The trust will then do an asset sale to the new buyer for the b...

I saw this on a Facebook post. Is this a scam or is it possible to sell a business, real estate, etc. and pay no tax? "If there is one thing people know about me, it’s that I get off by helping liquor store owners be more profitable as they help people get sloshed. My dream came true yesterday. A businessman in Michigan is selling his liquor stores and is concerned, quite rightly, about paying a huge amount of capital gains taxes from the sale. I told him the good news that this amazing trust is the ONLY solution out there that ELIMINATES capital gain taxes - it doesn’t just defer them. All he has to do is sell his assets to the trust at their original acquisition price…. The trust will then do an asset sale to the new buyer for the b...

Last year, as I rolled a 401k to my new employer, market movement between liquidation and later repurchase led me to lose several thousand dollars. I'm trying to avoid a similar circumstance this year as my employer migrates between 401(k) providers. If I do nothing, on some day in the blackout period they will liquidate all of my holdings and then hold it in a money-market fund until such time as I have access to them to re-invest. I am concerned with two things here: 1. the singular date of liquidation potentially falling on a day where market value is unusually low, 2. time out of the market (4-6 weeks of blackout, from mid-March to early May). For the first issue, I thought of smoothing out the sale of the assets over the 20 days until...

Just use Schwab or Fidelity and thank me later. You have already endured 10x too much stress for some a minor detail to move firms. You will never have to talk to the old firm again.

Consider me extremely skeptical of the story they used the sump pump as you think.

They have special offers in the app of % cash back spend at certain companies that you can add to your card thru the app.

I pay between $25-$40k per quarter with credit cards. The issue you are going to run into here is your credit limit. The IRS states you can only make 2 payments per quarter or pay period. Because of this rule, the card processors themselves each accept 2 payments per quarter or pay period, and then they cut you off after that. There are 3 card processors so in reality you can do it up to 6 times…. But you can’t do more than 6. I personally try to stick with 2 cards tops because of the original IRS rule on this, but there have been a couple quarters when I swiped a third due to bonuses, etc I wasn’t expecting (and I had underpaid with my 2 previous swipes). I haven’t had issues doing this, and my IRS account always reflected the extra swipe...

trugs wrote: ↑Tue Feb 07, 2023 5:03 pm This was not my experience. I sold shares under average cost, later switched to specific ID, and was allowed to sell old specific lots with differing cost basis.

This is IRS rules that once a mutual fund is sold under average basis you can't change the existing shares.

In the past I had asked Schwab for a retention bonus and each time they declined.

So how much was the bill? Based on the amount of time you have spent on creating a thread to talk about it I'm guessing it was >$500?

Dividend funds.... rarely hear it discussed

Are you sure? Or do you mean in the last 5 minutes?

Quick ChatGPT suggested the below :) There are several strategies you can use to minimize the taxes on the sale of a rental property in South Carolina. Here are a few options: Defer taxes through a 1031 exchange: You may be able to defer paying federal and state taxes on the sale of your rental property if you reinvest the proceeds into a similar property through a 1031 exchange. Depreciation recapture: If you have taken depreciation deductions on your rental property, the IRS will tax you on the depreciation recapture when you sell the property. To minimize this tax, you can structure the sale as an installment sale, which allows you to spread the tax liability over several years. Capital gains exclusion: If you have owned the rental prop...

YoungSisyphus wrote: ↑Mon Feb 06, 2023 9:22 am You could move in for two years and make it your primary residence and then sell it

This won't really change the tax situation. But it's a common misunderstanding.

This year my 1099 consolidated doesn't agree with my year end information on Vanguard's website. It's off by about $3,000 or so. I messaged Vanguard and asked about it, but no one has responded. I believe it might have to do with my transition to a brokerage account in 2022. My consolidated 1099 seems to be for the six month period after the transition to the brokerage account. I'm not sure though and not positive about what to do to assure my tax reporting is correct. My Vanguard 1099s have never agreed with the other year-end information on Vanguard's website. The explanation is quite simple. Dividends and distributions paid out in the first few days of January are displayed on the website (and the monthly statements) as being in the new...

Here's the skinny: I would like to convert all of my shares of VIGAX to its ETF equivalent VUG. I purchased shares as far back as 2006 and as recent as last year; in other words, I have many lots of both non-covered and covered shares. I have SpecID selected as the cost basis. The covered lots are shown individually. For the non-covered shares, since brokerages aren't required to report cost basis, the "Cost Basis" view on my Vanguard account only shows a single row which aggregates all of the non-covered lots. It shows the total # of lots, the total cost basis, etc. In the past, I have sold some non-covered lots as part of tax-loss harvesting, and I have records on my end as to which lots those were. So I've been applying specif...

So you want to be a market timer?

plansimmer wrote: ↑Sat Feb 04, 2023 12:12 pm Dad is planning to gift the house to me worth $700,000. He bought the house in 1997 for $100,000. He is retired and resides out of US and earns Social Security.
If I pay, for example, $50,000 in a year if needed, would dad have to report it to IRS as income. I'm only giving it as financial assistance if he needs.

It is not clear from your post. What does the $50,000 have to do with the house?

Agree with the posts that say be very careful doing a dispute. When you do a dispute with any retailer you risk any future business with them.

ChinchillaWhiplash wrote: ↑Sat Feb 04, 2023 11:19 am Would love to take it back but can’t drive it the 5.5 hrs back to Carvana (expired tags). I live too far away from their distribution center so had to pick it up from a vending machine. Another problem is that the car is nice and fairly hard to find with full service history and low milage. I could try and find something else similar but my wants and needs are hard to meet. Not many options for AWD, V6 powered, luxury full size sedan, < 60k miles, and a price under $25k.

Have you spoke to your local DMV?

I would recommend option d) do nothing. Do not withdraw any money from the 401k, leave it be. Tax software will handle it. There is no penalty for this. You will just pay taxes twice on the overcontributed money (now and at retirement when you take the money out).

Not sure why you had infuriating calls with Citi. You didn't do your homework. Even a simple Google search would have given you the answer.

Fidelity does fractional shares for ETFs and Schwab doesn't. That is one big thing that I wish Schwab has.