Search found 2166 matches

by sc9182
Tue Mar 26, 2024 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Age and probability of needing long term care?
Replies: 258
Views: 25890

Re: Age and probability of needing long term care?

Don’t know how many folks around here know much about Clark Howard. Take his views regarding LTCi topic.

‘Nuf said
by sc9182
Tue Mar 26, 2024 10:36 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Has any one been successful in getting the bonus paid on time from HSBC for this offer below? https://www.us.hsbc.com/checking-accounts/promotions/premier-offer/ I called HSBC and the CSR I spoke to said I need to be proactive and need to be on top of this if I wanted the bonus. This gives me a bit of pause. I am not sure if this is their standard warning or did folks end up not getting paid the bonus. haven’t been thru full cycle yet - as we just started with it. Yes - you have to stay on-top (and follow up on things). Couple of three-four things we felt hiccups. 1) opening bank account (and the paperwork) was in dark until they opened it - they sent approval email after some random 2-4 days 2) had to call again - to open Brokerage accoun...
by sc9182
Tue Mar 26, 2024 10:32 pm
Forum: Personal Investments
Topic: I think my Mom, recently widowed, is looking at a tax bomb
Replies: 28
Views: 4867

Re: I think my Mom, recently widowed, is looking at a tax bomb

Afraid WCI called-our the bluff on non-existent tax-bomb..

Sorry for Dad’s loss - but there is not whole lot to optimize here.

What about “step-up basis” assets and/or insurance payouts, and/or higher-of-the-two max-SS !? Tax tail aside, is having more “net monies” into pocket — is that ever a problem !? (sure, there is a single Mom in Podunk - that’s a problem - guess no one’s mom lives there !!)

Also - having large IRA may be blessing on/upon failing health with medical and/or LTC needs —
she is in best tax heaven — still searching for the non-existent bom’ around here!!
by sc9182
Mon Mar 25, 2024 7:48 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 4535
Views: 625802

Re: What frugal thing did you do today?

traded-in (for check) an extra vehicle to carmax. possibly got $2500 better price than carvana.

Less depreciation, less insurance, less maintenance (also less inspection & fees).
by sc9182
Mon Mar 25, 2024 8:27 am
Forum: Personal Investments
Topic: Dilemma of sorts…[asset allocation to reduce RMDs]
Replies: 16
Views: 2173

Re: Dilemma of sorts…[asset allocation to reduce RMDs]

I am 82. My RMDs are increasing. I did not convert money from the Traditional IRA to the Roth. That's the way things are supposed to work if you don't do Roth conversions. The RMD will keep growing as long as the yearly growth is more than the yearly withdrawal. But this usually changes direction in a person's late 80's as the growth rate starts to be less than the withdrawal rate. Of course, your age increases each year too and the divisor that goes with the year-end value decreases. (If/when you are 120, the divisor is two, meaning you have to withdraw half the year-end balance.) I suggest that after you withdraw the RMD, do Roth conversions (of stock funds) to the top of your current marginal tax bracket (and pay the taxes that you will...
by sc9182
Sun Mar 24, 2024 5:58 am
Forum: Personal Finance (Not Investing)
Topic: 20-30X income, is that the "retirement rut"?
Replies: 135
Views: 20691

Re: 20-30X income, is that the "retirement rut"?

Have you checked home and auto insurance spikes of-late !? 20-30-40% increases seems quite common (with companies saying, one more year of big premium-hikes likely) While at it - although Heath-Insurance premium hikes have steadied ., cost of healthcare (or insurance) hasn’t been much cheap. Same story for college costs. Have you fully paid off your current “forever” home ? Are kids already set in their own career? Any aging parents/in-laws to take care ? Have you looked at your portfolio numbers in 2018, during pandemic, or during Oct-2022 time-frame !? Can you still feel the rut, or thought of the rut !? Glad - you planned well, things (and markets) are working in your favor currently! We wouldn’t bank on it “fully” yet. You may be in top...
by sc9182
Sat Mar 23, 2024 9:32 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I've been trying to make Wells Fargo behave for the past 3 weeks. I did everything required for the $2,500 bonus. The transfer landed at Well on 9-5-23. The bonus should have posted 1-5-24 ( 30 dys after the 90 day balance maintenance period). I've spoken to the branch broker and the personal banker. Supposedly the request has been escalated. That was 10 dys ago and crickets. I guess my next avenue is the Consumer Financial Protection Bureau. Please keep the good work of staying on top. We've received 4 WF bonuses in our (and extended) family -- most recent one received: mid-Feb 2024; Didn't have any issues thus far - but we also figured/mastered its strict balance requirement (over $250K, always) - we've put-in extra buffer amounts as saf...
by sc9182
Fri Mar 22, 2024 11:41 pm
Forum: Personal Investments
Topic: Back door Roth questions
Replies: 22
Views: 1449

Re: Back door Roth questions

We simply do MBR — and there ends the matter. No Backdoor Roth here ..
by sc9182
Fri Mar 22, 2024 4:38 pm
Forum: Investing - Theory, News & General
Topic: Cash accumulator pathology
Replies: 24
Views: 2485

Re: Cash accumulator pathology

Yesterday went to bank for notary work - the teller informed us that brand-spanking new $2 bills arrived - in sequence. Sure withdrew/brought home full pack - feel $200 rich now !!

Luckily, that cash withdrawal was out of “bonus-cash” we received due to a recent Brokerage Bonus promotion.
by sc9182
Fri Mar 22, 2024 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do you assume legislative cuts in Social Security and other federal benefits?
Replies: 49
Views: 2124

Re: Do you assume legislative cuts in Social Security and other federal benefits?

If we take retirement at age 62 - would that be about 70% of Full retirement funding !? Then assume cut 30% cut — that would leave it to be about 50% off full retirement benefit amount. Folks have been planning 124% benefit at delayed age-70 benefit $amount.

Long ways to go here - will see ..
by sc9182
Wed Mar 20, 2024 5:25 am
Forum: Personal Investments
Topic: Any downsides to consolidating multiple Rollover IRAs?
Replies: 4
Views: 717

Re: Any downsides to consolidating multiple Rollover IRAs?

No disadvantages that I can think of. If you get to the point when RMDs are required with multiple IRAs, you will have to take RMDs from all of them! I consolidated all of my 401Ks into a single IRA when I retired. Much easier to manage. “ An IRA owner must calculate the RMD separately for each IRA they own but can withdraw the total amount from one or more of the IRAs” Ie., you just have to find the ending balance of each Rollover IRA to calculate your RMD for that year. Actual RMD (or for that matter QCD) withdrawal can happen from any one/some of them - to meet RMD amount for the year. We at times - opportunistically, but selectively, slice-and-dice Rollover IRAs (but we are decaaades from our RMD ages) - to participate in new account b...
by sc9182
Tue Mar 19, 2024 8:45 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

hmw wrote: Mon Mar 18, 2024 5:52 pm Anyone got paid by M1 today?

I did a tranfer bonus last year and the bonus is supposed to be paid out today. Have not seen it in my account.
** A bud of ours did NOT get bonus on 18th. So she called-in — and was Told by M1 rep that a brokerage account need to be opened for
the bonus to be deposited. She opened it yesterday- and this morning she could see bonus in her “brokerage” account.

She got the full bonus amount deposited into Brokerage account - she saw the bonus. Good to see some cash moneys!

** Updated with more details/clarification.
by sc9182
Tue Mar 19, 2024 8:33 am
Forum: Investing - Theory, News & General
Topic: Calculating Time to $1MM and each $100k
Replies: 24
Views: 3881

Re: Calculating Time to $1MM and each $100k

Once you reach $250-500K asset level - its lot easier to lose $100K in very short period due to market corrections.
Agree with other posters that - its not a straight-line/smooth-graph; What all you can control during accumulation period (for that matter, decumulation period as well) -- your own contributions, do continue to maximize (or withdrawals in retirement). Ideally speaking - during one's younger lives, they should prefer a few market corrections -- so their contribution dollars buys more equities (and more quality) cheaper..
Hopefully - over long enough time-horizon -- let markets do their compouding.

You do your day job (and contribute & invest max) -- and let the market (ie., your investments) do its day-job
by sc9182
Fri Mar 15, 2024 3:22 pm
Forum: Investing - Theory, News & General
Topic: Bonuses from Brokerages tax implications
Replies: 19
Views: 1251

Re: Bonuses from Brokerages tax implications

veggivet wrote: Fri Mar 15, 2024 3:20 pm I just received tens of thousands from Robinhood deposited into my T-IRA and Roth-IRA as part of their 3% bonus program. I have no earned income. The bonuses were deposited immediately upon transfer from TD Ameritrade.
LOL - someone better like the brokerage (and the 5-year looong hold required) !!

Yes - tax-free or tax-deferred is fun indeed !!
by sc9182
Fri Mar 15, 2024 3:15 pm
Forum: Investing - Theory, News & General
Topic: Bonuses from Brokerages tax implications
Replies: 19
Views: 1251

Re: Bonuses from Brokerages tax implications

if bonus dropping into IRA (or better yet - into Roth) — its nice.

But, if bonus going to brokerage/checking — you just have to figure if the post-tax bonus amount (and duration) is worth it, or not — for you to pursue ..
by sc9182
Fri Mar 15, 2024 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Age and probability of needing long term care?
Replies: 258
Views: 25890

Re: Age and probability of needing long term care?

dagsboro wrote: Wed Jun 21, 2023 9:41 am Many sellers of insurance for assisted living and/or long term care have gone out of business because they misjudged their payout costs. Consider types like a single premium insurance annuity with long term care riders. If you don't use all or part of it, the remainder goes to your heirs.
didn’t review such contracts — by general understanding says., if the costs (premia) did exceed what’s there left in annuity., you may be still on the hook. It just meant you pre-allocated/paid ever-increasing premia and still continue to be on the hook down the line ..

Be happy to hear if there is solid-proof to the contrary..
by sc9182
Fri Mar 15, 2024 11:20 am
Forum: Personal Consumer Issues
Topic: Termite Quotes & Repair vs Damage warranty
Replies: 33
Views: 1978

Re: Termite Quotes & Repair vs Damage warranty

coldaudio wrote: Fri Mar 15, 2024 11:14 am Depending on where you live, I think a termite bond is a worthwhile investment. My in-laws recently had to have the siding and some interior structure beneath replaced on all 4 sides of their home due to termite damage. The expense was north of $120k+ and the termite company paid up (and terminated the agreement thereafter).
Glad to hear infrequent case where Termite company owned the problem and paid for it.

Bigger Two Questions are:

What good is their treatment plan if the home is affected that extensively !?

What is their good “future” termite protection !? (now that they cancelled contract!!)
by sc9182
Fri Mar 15, 2024 10:48 am
Forum: Personal Consumer Issues
Topic: Utilities cost?
Replies: 57
Views: 4393

Re: Utilities cost?

Our sewer fixed-price-for-the-current-year is based on preceding winter our "winter 3-months averaging" water usage (the assumption is no lawn/pool water usage during this winter period). If you can minimize your usage during these 3-months, following year's Sewer cost would be somewhat lower (not much - due to some fixed costs in there anyway) Rooftop Solar PV - electricity is mostly cheap/free (there is customer charge of $20 - can't escape that); and we pay for some excess usage (beyond Solar production) in our HOT summer months (A/C) Gas is gas; but, we do use oil-based electric heater selectively to make-use of our excess Solar production in Winters (I know heat-pumps could help too - but we ain't that rich, yet) .. this ough...
by sc9182
Fri Mar 15, 2024 10:24 am
Forum: Personal Consumer Issues
Topic: Extra Low Mileage Drivers: How much do you spend on your car?
Replies: 54
Views: 5568

Re: Extra Low Mileage Drivers: How much do you spend on your car?

Very low miles usage here: Got 5-years old now (bought new at such a hard-to-believe low-price; its current Carvana trade-in value is higher than what we paid back then), a Buick SUV - not much maint other than once in 6-months synthetic oil-changes, fluids check. An European electric saloon with 400+ miles range, on lease (we all know a lease is SO anti-BH., but this is possibly top-5 best-deals-ever on LHackr) - mostly-free electricity charging (home Solar PV) ; all maintenance is paid-for in lease-term. Our lease annual cost would be lot lower than many BH folks' expense ratios on their funds/ETFs on their BH'sized portfolios (unless you got all-in on some of them Fidelity Freedom funds!) As for the insurance, at current rates: ain't che...
by sc9182
Fri Mar 15, 2024 10:08 am
Forum: Personal Consumer Issues
Topic: Termite Quotes & Repair vs Damage warranty
Replies: 33
Views: 1978

Re: Termite Quotes & Repair vs Damage warranty

Since Termites is the topic -- related hypothetical question, got curious.

Termite-killers are ants, I read somewhere.

By eliminating ants/ant-colonies with pesticides., are we increasing the risk of higher termite incidence ?

Is that possible reason why Pesticide companies co-sell/up-sell Termite treatments along with it ?

Got curious..
by sc9182
Fri Mar 15, 2024 8:29 am
Forum: Personal Investments
Topic: Do I need to do anymore Roth conversions?
Replies: 14
Views: 1553

Re: Do I need to do anymore Roth conversions?

What about LTC needs/costs and/or large un-expected/un-covered medical bills for either of you? A wiser-self once mentioned/posted in Jan 2023 :happy : "I think another question is how much LTC would someone need? I believe I have read in the past that most people do not require a lot of LTC. If that is true, it could mean that the cost of LTC insurance is more than the use of limited LTC. Also, people can sometimes use home health services to avoid LTC. Of course, there are some who spend years in LTC." Are all your kids and grand-kids (who you may want to pass some legacy) in some of the higher tax-brackets ? If you intend to split your IRA 2+4 (assuming 2 kids, 4 grand-kids) -- unless you have multi-million IRA left still -- it...
by sc9182
Wed Mar 13, 2024 11:36 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Has any one been successful in getting the bonus paid on time from HSBC for this offer below? https://www.us.hsbc.com/checking-accounts/promotions/premier-offer/ I called HSBC and the CSR I spoke to said I need to be proactive and need to be on top of this if I wanted the bonus. This gives me a bit of pause. I am not sure if this is their standard warning or did folks end up not getting paid the bonus. haven’t been thru full cycle yet - as we just started with it. Yes - you have to stay on-top (and follow up on things). Couple of three-four things we felt hiccups. 1) opening bank account (and the paperwork) was in dark until they opened it - they sent approval email after some random 2-4 days 2) had to call again - to open Brokerage accoun...
by sc9182
Sat Mar 09, 2024 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: QCD sweet spot?
Replies: 31
Views: 2982

Re: QCD sweet spot?

1. If you are in IRMMA boarderline, QCD is a good way to reduce your MAGI. No, QCDs don't impact your MAGI except that they keep your MAGI from increasing (compared to you having put the withdrawal in taxable instead). Sorry celia, we'll just have to disagree. Withdraw reported as QCD is excluded from line 4b, compared to reported as deduction in line 12, it definitely reduces my MAGI. Unless I misunderstood you? The custodian doesn't know (or care) what you did with the IRA withdrawal (even though they wrote the check to a charity). At the end of the year, they just send you a 1099-R for each IRA that had withdrawals. The total amount withdrawn is shown in box 1, which you report on line 4a of Form 1040. Then your software asks what you d...
by sc9182
Thu Mar 07, 2024 2:59 pm
Forum: Investing - Theory, News & General
Topic: FAANG, MAMAA now AI and GLP-1
Replies: 12
Views: 1410

Re: FAANG, MAMAA now AI and GLP-1

Wow - sounds like stuff one can hear too much CNBC or business news channels :-) We will ignore ..

When was that - 25 some years ago - the "little blue-pill" supposed to do this, that and the other.

In the end what has it achieved ?
"medications for erectile dysfunction have helped bring men averse to regular medical care to the doctor’s office."
https://www.uclahealth.org/news/how-the ... -years-ago

We would imagine these new GLP medications could helps things (esp. if price is 10-20x cheaper) - likely however, lot lesser impact than being discussed on them shows !
by sc9182
Thu Mar 07, 2024 2:48 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1547
Views: 119459

Re: Robinhood 3% IRA Match

Man - LOL !! We don't want to go this deep against one RH or one new-fang FinTech Co.'s motives -- but to us - 5-years is WAY TOO LONG time-frame. We are happy to skip this RH-deal especially due to such a long retention-time requirement., and happy to make bonus elsewhere (some larger, some smaller payouts, but those have significantly shorter retention/hold time-frames) You're not going to find any larger after-tax payouts with lower hold times, sorry. Fair - there are some "Annualized Return" numbers here (thanks to poster on Definitive Bonus Thread): https://docs.google.com/spreadsheets/d/11mLvKc51UMgvKkcqtgApNmStCpefEmMVwtT4FPvyKdA/edit#gid=0 RH's return doesn't stand nowhere in top-10 we could glance in that sheet. (nor as ...
by sc9182
Thu Mar 07, 2024 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Dual Direction Annuity - 2 good 2B true?
Replies: 15
Views: 1370

Re: Dual Direction Annuity - 2 good 2B true?

Hopefully you at least got a free steak dinner for listening to the sales pitch. I was thinking about going to one of those sometime. I'm not sure I could keep from laughing during the presentation though. "There ain't a horse that can't be rode, and there ain't a rider that can't be throwed." I don't think stealing bait from mousetraps is a good idea. One reason is that a friend of ours told us, years ago, that she made a hobby of going to timeshare presentations just to get the free dinner. She said "When they come over to talk to me, I just say 'Oh, I'm only here for the free dinner,' and then they go away." Some years later it transpired that she was trying to unload a timeshare she had bought at a free dinner. Hehe...
by sc9182
Thu Mar 07, 2024 2:40 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1547
Views: 119459

Re: Robinhood 3% IRA Match

I can't believe all these Bogleheads who are supposedly conservative savvy investors transferring their money into RobinHood for the cash bonus. RobinHood's name is the exact opposite of what it does (rob from the poor and give to the rich). Doesn't anybody remember how they completely screwed over all their customers during the great GameStop, AMC, BBBY short squeeze debacle. They broke the rules of the market to protect a big player who was overly short, and the short squeeze wasn't allow to happen because they froze trading. Sure many of them were degenerates from r/WSB, and who cares if they gambled their rent money and lost it. My issue was the rules of the market should be set in stone, and it was depressing and sad to see how those ...
by sc9182
Wed Mar 06, 2024 9:20 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

True. I only realized that I could do a Roth several years ago. But if you are even younger than 60 years old and putting away that kind of money, all of those capital gains will be tax-free. If you are putting away $6000 a month you are in a tax bracket where you will be paying 20% on capital gains at minimum going forward. At minimum meaning no one knows future tax rates And capital gains are going down. You get the additional pleasure looking at your Roth account realizing all of that belongs to you rather than when you look at your brokerage account thinking how much of this is capital gains and I may actually own 80% of that. To me it seems like once you realize your mistake, speaking of myself, at least, why would you not Correct it ...
by sc9182
Wed Mar 06, 2024 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: When have you stopped saving for retirement?
Replies: 40
Views: 4008

Re: When have you stopped saving for retirement?

Many folks continue to save for retirement- while in-retirement.

By only spending 3-4-5% annually - chances are that their portfolio will continue to “grow” during their retirement. Ie., the original corpus monies at the date of retirement are likely to continue to grow — ie., their withdrawals likely smaller than account growth ..
even though that may not be most optimal way to looking at this - continued account growth helps to
absorb “market downturns”, big one-time expenses, personal/medical issues, down-the-line QCD/charity, gifting, bequest, and legacy purposes.

In a nutshell- “savings never stop”
by sc9182
Wed Mar 06, 2024 12:02 am
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

Half the nay-sayers here them selves would (or did) benefit from Trad. But today, just because market been doing quite good (over last 3, 7 or 14+ years) - somehow they wish they had a bigger slice of tax-free Roth. Sure - we love Roth’s too - but, if you somehow contributed to, or converted to Roth - prior in to 2010’ish timeframe - either your marginal tax-bracket was 3-4% higher than what Today is now., or that you missed out a deduction i or two (back then) It’s almost similar in wishful thinking that - wish we was Rich back when (and tax-free too!!!). But, most folks know recency and/or conversion tax-spikes involved with conversion(s). BTW - we personally know a few folks who love to be bit with IRMAAs on their RMDs (please ignore art...
by sc9182
Tue Mar 05, 2024 7:14 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I've been trying to make Wells Fargo behave for the past 3 weeks. I did everything required for the $2,500 bonus. The transfer landed at Well on 9-5-23. The bonus should have posted 1-5-24 ( 30 dys after the 90 day balance maintenance period). I've spoken to the branch broker and the personal banker. Supposedly the request has been escalated. That was 10 dys ago and crickets. I guess my next avenue is the Consumer Financial Protection Bureau. Please keep the good work of staying on top. We've received 4 WF bonuses in our (and extended) family -- most recent one received: mid-Feb 2024; Didn't have any issues thus far - but we also figured/mastered its strict balance requirement (over $250K, always) - we've put-in extra buffer amounts as saf...
by sc9182
Mon Mar 04, 2024 12:26 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

I'd like to have a better understanding, so I can tell my 30-something children how much tax deferred to have. Is there a rule of thumb for young people? In general, your early years of working are your lowest-paid years and thus your lowest tax bracket years. As you work and gain more experience, your pay tends to increase more than just for inflation. So, it is good to contribute to Roth accounts when you are young and just let that money grow for 20, 30, or 40 years. After you've worked for about 10 years and see your tax bracket increase, that is when you should contribute to tax-deferred instead. Heh - Your parents could have matched/contributed to your Roth when/with your lawn-mowing/News-paper-delivery monies -- and made you Roth ri...
by sc9182
Mon Mar 04, 2024 9:08 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

For all Bonus takers, how you manage your 1099 tax forms (and possible Trades) ? Given most of the bonus monies being paid into Brokerage accounts generating multiple-1099s each - how do you personally herd all these little/big tax-cats together ? (as sometimes the brokerages don't even generate 1099s timely, happened once with M1 and/or Public.coms iirc). Some houses don't send paper-copies (or make it helluva harder to opt for Paper tax-forms to be sent) Don't even imagine the complexity - if you make any amount of trades (we rarely trade ; simply buy and hold types -- still, some times, the dividends/cash need to get invested or do a little clean-up and such.. thus generating trades. I use a tool called Google Sheets that provides sprea...
by sc9182
Fri Mar 01, 2024 11:00 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Good to see takers and likers for both RH and recent WeBull offers. What not to like 3% or 4.5% over 5-years. But, like Leesbro mentioned -- definitely don't want to cross SIPC limits with these new-age/small'ish brokers/bonuses. Reading through Robin Hood's asset protection program and it looks like you can stash up to $2.25M in the cash sweep account (5% yield with gold) and it will be covered under FDIC. There is an additional $500K from SIPC, and then an additional $1B insurance policy. Seems like that would cover like 99% of people so curious if that changes your mind on crossing the much lower SIPC limit? LOL - I think M1 had similar "extra" protections back when (do they still have it - not sure ?) This limitation, in-itse...
by sc9182
Fri Mar 01, 2024 8:37 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Good to see takers and likers for both RH and recent WeBull offers. What not to like 3% or 4.5% over 5-years. But, like Leesbro mentioned -- definitely don't want to cross SIPC limits with these new-age/small'ish brokers/bonuses. To answer TJ's earlier Q about - not many offers exist for IRA bonuses : do tend to agree. But, recently (within last 2 months), following few offers did come-along, some are still open (only wish I/we had boat-loads of IRA/Roth-IRA monies -- tax-bracket busting amounts, alas, we don't), couple of which we could participate: WeBull - about 1.8% on amount of IRA-monies transferred-in WellsFargo $2500 on 250K -- 3 months (we actually withdrew the bonus as Cash, and happily spent/gifted/tipped $100 bills over the Holi...
by sc9182
Fri Mar 01, 2024 8:26 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

cak144 wrote: Fri Mar 01, 2024 7:32 am
sc9182 wrote: Thu Feb 29, 2024 9:49 pm
Besides - the current WeBull offer
is lot less useful than their recent 3% IRA transfer via-referral bonus paid-in 10 months - which they ran (expired-now) couple of months ago!!
I agree with you that the recent triple IRA bonus offer was more preferable, at least to me also, but it was actually 1.8%, not 3%.
Oh yeah - thanks for correction/update. Was adding-up 1.8% for referrer and referred. Obviously, someone else' bonus monies are NOT ours :happy
Having that said - if you and your spouse each have participated in this offer - that be some serious change of bonus-monies !!
by sc9182
Thu Feb 29, 2024 9:49 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

can’t say much - one way or other on current WeBull bonus offer being discussed (and ensuing discussion;)

Our-plan is to stay close-to/under 1-year bonus offers .. besides we don’t have 8-figure accounts/amounts to fill/partake-in every possible offer

Besides - the current WeBull offer
is lot less useful than their recent 3% IRA transfer via-referral bonus paid-in 10 months - which they ran (expired-now) couple of months ago!!

Very happy to skip Robinhood 5-year bonus too, bonus% doesn’t matter — Happy to let it Paassss
by sc9182
Thu Feb 29, 2024 9:26 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15670

Re: What good is tax deferred?

I'd like to have a better understanding, so I can tell my 30-something children how much tax deferred to have. Is there a rule of thumb for young people? In general, your early years of working are your lowest-paid years and thus your lowest tax bracket years. As you work and gain more experience, your pay tends to increase more than just for inflation. So, it is good to contribute to Roth accounts when you are young and just let that money grow for 20, 30, or 40 years. After you've worked for about 10 years and see your tax bracket increase, that is when you should contribute to tax-deferred instead. Heh - Your parents could have matched/contributed to your Roth when/with your lawn-mowing/News-paper-delivery monies -- and made you Roth ri...
by sc9182
Thu Feb 29, 2024 4:27 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: Chase Private Client Bonus

Has anyone done a CPC bonus lately? I have had appointments scheduled at two branches and for whatever reason I was told that Chase doesn't offer full-service brokerage accounts that clients have full control of or where clients can do ACAT. I intend to open a CPC checking account and full brokerage account, where I have full control, and bring in SGOV ETF to earn the bonus. Any advice/recommendations? They may have told you that because the full-service brokerage account (which qualifies for the CPC bonus) always has an advisor assigned and ACATS transfer requests are done via DocuSign; this is in contrast to their self-directed accounts (formerly YouInvest, and which do not qualify for the CPC bonus) has no advisor and you initiate ACATS...
by sc9182
Thu Feb 29, 2024 8:23 am
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 4535
Views: 625802

Re: What frugal thing did you do today?

Need an extra car in the family. Scored a lease for under $450/month, Zero down on a six figure car.

Is this saving or non-saving under scope of this thread or for a typical BH !? What’s your take !?
by sc9182
Sun Feb 25, 2024 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4288
Views: 1082012

Re: Share your net worth progression

Sharing my progress. I wonder if I'm being too conservative. Year - Age - NW - Salary (x 1000) 2015 - 39 - 791 - 168 2016 - 40 - 967 - 164 2017 - 41 - 1360 - 185 2018 - 42 - 1390 - 192 2019 - 43 - 1823 - 192 2020 - 44 - 2075 - 198 2021 - 45 - 2656 - 200 2022 - 46 - 2533 - 217 2023 - 47 - 2799 - 211 May be yes, may be not (being conservative!?) Many folks’ portfolios have had much more downswings over years: 2018, 2020, and 2022. Where as your portfolio downturn magnitude seems lesser (than many others’ equity heavy portfolios). Correspondingly, you had lesser upswing during market recoveries. Thus your portfolio swings have been “lesser” on either side. Are you being conservative!? May be yes, may be not - depending on your possible retire...
by sc9182
Sat Feb 24, 2024 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Time to reach 1M and 2M milestones
Replies: 426
Views: 137344

Re: Time to reach 1M and 2M milestones

yogesh wrote: Fri Feb 23, 2024 11:49 pm 2006: $0
2007: $50,000
2008: $200,000
2009: $350,000
2010: $600,000
2011: $628,000
2012: $800,000
2013: $1,000,000
2014: $1,500,000
2015: $1,800,000
2016: $2,000,000
2017: $2,500,000
2018: $3,100,000
2019: $3,800,000
2020: $4,500,000
2021: $6,300,000
2022: $6,600,000
2023: $7,200,000
This is great !! Afraid decent chunk of these monies could be: “net monies put-in” **
Nothing wrong with investing hard earned monies !!

** Or, could also be due to single/few multi-bagger stock picks. Or, big exposure to RSUs

Kudos !!
by sc9182
Thu Feb 22, 2024 3:32 am
Forum: Personal Investments
Topic: Why should I back door Roth?
Replies: 49
Views: 4964

Re: Why should I back door Roth?

We are fine with Roths - or MBR ; However we just don’t feel too comfortable with Backdoor Roth process nor its pitfalls/gotchas (search may be your friend); Someone earlier today on mentioned it might yield about $1000 gain on $6500 contribution over: 20-30 years !? We rather make a buck or two with our Rollover IRA with/using thread “Definitive thread on Brokerage Bonuses” here on BH. Brokerage investments are not exactly bad either - these give opportunity to Tax-loss harvest and can-use “margin” on — which none of IRAs/Roth-IRAs allow currently. If your AGI is about/under $100k — you might realize $0 tax on some/most LTCG/Qual-dividends. Or gift/donate appreciated equities to low AGI folks or to your fav charities/DAF - mostly tax-free ...
by sc9182
Wed Feb 21, 2024 9:18 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7766
Views: 1351680

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

whodidntante wrote: Tue Feb 20, 2024 9:19 pm I got two 1099s from M1. Still no cost basis transfer, though. I could have walked it over to wells fargo by now. 😂
Got 2 1099s from M1 - one from Apex (till Oct ?) and one by M1 itself for the remainder of the year. (remember- account/custody transfer from Apex to M1 !?).

Took 8-10 weeks for cost basis to come through from M1.
by sc9182
Sun Feb 18, 2024 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Have you ever replaced a perfectly fine car just because?
Replies: 111
Views: 8666

Re: Have you ever replaced a perfectly fine car just because?

We’ve done this a few times - a perfectly working Leased car returned (normal time, upto 6 months delayed, or 6 months ahead of time - with no penalties,
called pull-forward) etc., or due to hail damage couple of times, among other things. Yes - returned, or traded-in, got a new lease (and got more monies trading-in during covid
times) and such., we’ve done “changing” good/great vehicles just-because ..
by sc9182
Fri Feb 16, 2024 7:14 pm
Forum: Personal Investments
Topic: Can you spare a dime for my Roth conversion spreadsheet?
Replies: 14
Views: 2114

Re: Can you spare a dime for my Roth conversion spreadsheet?

Wonder where - “Roth Optimizer/calculator” and “At one point of life one of the spouses be experiencing widow-tax penalty” is it a slow day or something !?

Over a period of time - a few Roth conversions may make sense - while some may not! Most likely - one would only realize how their Roth-conversions worked out - posthumously (usually last spouse to pass + 10 years at max).

If one has charitable intentions, or planning some QCDs, or planning to pay for their own LTC or large-medical bills and such (along with potential SORR issues) — greedy/all-in Roth conversions may not work the best. But - one may not/never know complete success of such conversions until demise+multiple+years.

Good luck ..
by sc9182
Thu Feb 15, 2024 4:56 am
Forum: Personal Investments
Topic: Backdoor Roth -- worth the hassle? (and a potentially dumb question about it)
Replies: 25
Views: 3300

Re: Backdoor Roth -- worth the hassle? (and a potentially dumb question about it)

We are happy to participate in employer 401k Mega Backdoor Roth (MBR) - to extent possible.

We instead use our Rollover IRAs toward making monies - via Definitive Brokerage bonus suggestions (se/search such thread title here on BH) - a few grand here - a few grands there ..

Not interested in dealing with possible “gotchas” of Backdoor IRA process. We seek to make monies elsewhere ..
by sc9182
Thu Feb 15, 2024 4:36 am
Forum: Personal Finance (Not Investing)
Topic: Guilt about having to spend Roth IRA money
Replies: 33
Views: 5389

Re: Guilt about having to spend Roth IRA money

There are two points here: 1) Spending Roth monies - everyone talked as above 2) At what marginal bracket(s) did the monies got into Roth - if converted at !? As for point-2 : its water under the bridge at this point. Besides you are saving on ACA subsidies by using Roth monies - so, your Roth’s are making monies for you (ACA tax subsidies) - someone mentioned usually ACA subsidies amount to about 9-12% equivalent of taxes saved (or avoided/reduced cost). Don’t forget 138% FPL MAGI income - especially if you live in donut-hole states .. If someone keeps mentioning single-tax bracket of surviving spouse brackets (and IRMAA) - may be they didn’t plan decently to have had some limited $amount of term life-policy back when — again, water under ...
by sc9182
Tue Feb 13, 2024 9:17 am
Forum: Investing - Theory, News & General
Topic: Nassim Taleb article - "White Swan" Risk
Replies: 50
Views: 6749

Re: Nassim Taleb article - "White Swan" Risk

That author must be in some
type of Swan spotting bidness - and why not make chunks of money while at it !?
by sc9182
Mon Feb 12, 2024 11:50 am
Forum: Investing - Theory, News & General
Topic: Jason Zweig’s latest WSJ article on ETF/MF taxation
Replies: 25
Views: 4428

Re: Jason Zweig’s latest WSJ article on ETF/MF taxation

ETFs being more portable - can take it to just about any shop. Can short, margin, and/or lending — lot easier (not that any of these are trivial things to consider). It helps - instead or needing to sell for very little need.

Afraid - there MF now has to make-do with “more expenses” to accommodate more “trading” happening under its sister-ETF ..

Dunno it helps long run - but it’s a decent feature nonetheless.