Search found 221 matches

by Outafter20
Tue Jan 16, 2024 6:35 pm
Forum: Personal Investments
Topic: 529 rollover to Roth IRA with Fidelity
Replies: 22
Views: 2453

Re: 529 rollover to Roth IRA with Fidelity

For those who hold eligible 529 accounts with the NY Saves program, administered by Vanguard, the form to authorize and initiate the transfer is available on their website. Very straightforward to fill out, with no notary or medallion signature is required. It does need to be snail-mailed to the NY Saves office in Boston, however. Will New York claw back your state tax deduction? For New York, it looks like they will clawback state, as per their website: If you are a New York State taxpayer, a Federal Qualified Withdrawal where the proceeds are used to make a Roth IRA Rollover is considered a New York Nonqualified Withdrawal, and the withdrawal will require the recapture of any New York State tax benefits that have accrued on contributions...
by Outafter20
Fri Jan 05, 2024 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

tibbitts wrote: Fri Jan 05, 2024 7:12 pm
tonyclifton wrote: Fri Jan 05, 2024 7:03 pm OP, if you are worried, if you have a statement from Empower showing a $25,000 401k balance then your money is “safe.” The employer does not have your funds or access to them. I can’t tell from the thread if you are worried that employer will siphon off or not honor the 401k.
If it were me the concern would be the funds being "stuck" indefinitely. But that's a good idea to save a statement.
Indefinitely is our concern, with everyone pointing the finger at everyone else.
by Outafter20
Fri Jan 05, 2024 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

Has the distribution been approved by the plan administrator? That could be the current issue. The plan administrator could be the plan sponsor meaning that someone at the employer needs to approve the distribution. It is also possible there is a TPA acting as a 3(16) administrator and the responsibility would fall to them to approve the distribution. That's what's annoying about this whole situation. The TPA is saying they approved the distribution in Empower's portal. Two of the three reps from Empower said the approval was received, one says it wasn't. A system generated email from Empower states, "We are working to obtain approval(s) needed to process your withdrawal. We will send you a message in three days to provide a status up...
by Outafter20
Fri Jan 05, 2024 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

My wife's company closed down last month https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-plan-terminations When must plan assets be distributed after a plan terminates? Generally, an employer must distribute assets from a terminated plan as soon as administratively feasible after the date of plan termination. We determine whether the employer made distributions as soon as administratively feasible based on the facts and circumstances, but generally the IRS views this to mean within one year after plan termination. We saw that on the IRS website. I think that applies to plan terminations, not rollovers. As far as we know the plan has not yet been terminated. How could they not terminate the plan? There is a handful of e...
by Outafter20
Fri Jan 05, 2024 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

Empower is slow and disorganized, and it's difficult to reach people there who know about more than the basics. I look forward to leaving Empower and I wouldn't touch their IRA with a 10 foot pole. But I think a FINRA complaint would be an additional waste of your time. Complaining to the right regulator would also be a waste of time, because they haven't done anything egregious yet, just standard Empower disempowerment. My annual mega backdoor Roth interactions with Empower border on comical. Different, weird answers. Confusion from CSRs. I've also been told that what I'm asking for can't be done, when it has been done repeatedly. Having to fill out a form that is wrong, so I annotate it and send a letter of instruction. If I don't call, ...
by Outafter20
Fri Jan 05, 2024 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

toddthebod wrote: Fri Jan 05, 2024 4:51 pm
Outafter20 wrote: Fri Jan 05, 2024 4:10 pm My wife's company closed down last month
https://www.irs.gov/retirement-plans/re ... rminations
When must plan assets be distributed after a plan terminates?
Generally, an employer must distribute assets from a terminated plan as soon as administratively feasible after the date of plan termination.

We determine whether the employer made distributions as soon as administratively feasible based on the facts and circumstances, but generally the IRS views this to mean within one year after plan termination.
We saw that on the IRS website. I think that applies to plan terminations, not rollovers. As far as we know the plan has not yet been terminated.
by Outafter20
Fri Jan 05, 2024 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

Has anyone here ever made a FINRA complaint and been successful? My wife's company closed down last month and everyone got laid off. Long story short, parents start and build a business over 30 years, parents pass the business down to the kids and the kids completely destroy it in less than 10 years. My wife was in a 401k that has around $25,000 in it. My wife is still friendly with the parent and the parent notified the TPA that my wife was laid off, so that my wife can roll the money out to her Vanguard IRA. The TPA notified Empower, the company that maintains the plan, that my wife is no longer the company. My wife called Empower on 1/2, and after a hard sell from the rep to roll the IRA to an Empower IRA, started the process to start t...
by Outafter20
Fri Jan 05, 2024 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

Has anyone here ever made a FINRA complaint and been successful? My wife's company closed down last month and everyone got laid off. Long story short, parents start and build a business over 30 years, parents pass the business down to the kids and the kids completely destroy it in less than 10 years. My wife was in a 401k that has around $25,000 in it. My wife is still friendly with the parent and the parent notified the TPA that my wife was laid off, so that my wife can roll the money out to her Vanguard IRA. The TPA notified Empower, the company that maintains the plan, that my wife is no longer the company. My wife called Empower on 1/2, and after a hard sell from the rep to roll the IRA to an Empower IRA, started the process to start t...
by Outafter20
Fri Jan 05, 2024 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

Re: FINRA Complaint

Has anyone here ever made a FINRA complaint and been successful? My wife's company closed down last month and everyone got laid off. Long story short, parents start and build a business over 30 years, parents pass the business down to the kids and the kids completely destroy it in less than 10 years. My wife was in a 401k that has around $25,000 in it. My wife is still friendly with the parent and the parent notified the TPA that my wife was laid off, so that my wife can roll the money out to her Vanguard IRA. The TPA notified Empower, the company that maintains the plan, that my wife is no longer the company. My wife called Empower on 1/2, and after a hard sell from the rep to roll the IRA to an Empower IRA, started the process to start t...
by Outafter20
Fri Jan 05, 2024 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: FINRA Complaint
Replies: 23
Views: 1835

FINRA Complaint

Has anyone here ever made a FINRA complaint and been successful? My wife's company closed down last month and everyone got laid off. Long story short, parents start and build a business over 30 years, parents pass the business down to the kids and the kids completely destroy it in less than 10 years. My wife was in a 401k that has around $25,000 in it. My wife is still friendly with the parent and the parent notified the TPA that my wife was laid off, so that my wife can roll the money out to her Vanguard IRA. The TPA notified Empower, the company that maintains the plan, that my wife is no longer the company. My wife called Empower on 1/2, and after a hard sell from the rep to roll the IRA to an Empower IRA, started the process to start th...
by Outafter20
Sun Aug 20, 2023 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Best No Fee Grocery credit card
Replies: 57
Views: 6267

Re: Best No Fee Grocery credit card

UpperNwGuy wrote: Sun Aug 20, 2023 9:07 pm
anagram wrote: Sun Aug 20, 2023 9:02 pm
Outafter20 wrote: Wed Aug 16, 2023 6:37 pm I have been using the Capital One Savor card for groceries and eating out for the last 2.5 years. Unlimited 3% cashback with no hassles whatsoever.
How do you redeem the cash if you don't bank with Capital One?
They're probably redeeming as a statement credit to the credit card account. Or perhaps Capital One lets you redeem the cash to a checking account at a different bank. Chase allows this.
Statement credit once I hit the dollar threshold I set up.
by Outafter20
Sun Aug 20, 2023 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Bogus ATT fee $5 per phone per month
Replies: 35
Views: 5101

Re: Bogus ATT fee $5 per phone per month

AT&T pulled the same nonsense on me a few times. Every time we went into the AT&T store (corporate owned, not authorized retailer) to get new phones, the next bill that came always had some extras we never signed up for (insurance, NEXT, etc.). After 20+ years we finally had enough of the poor service, poor customer service and add-on nonsense, and finally switched to T-Mobile (with a much lower bill). Couldn't be happier.

As a side note, I recently received a letter from a law firm regarding a class action suit I joined against AT&T a few years ago for bogus charges. Apparently I will be receiving a check shortly.
by Outafter20
Wed Aug 16, 2023 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Best No Fee Grocery credit card
Replies: 57
Views: 6267

Re: Best No Fee Grocery credit card

I have been using the Capital One Savor card for groceries and eating out for the last 2.5 years. Unlimited 3% cashback with no hassles whatsoever.
by Outafter20
Tue Jun 27, 2023 11:40 am
Forum: Personal Finance (Not Investing)
Topic: 529 Plan during the college years
Replies: 7
Views: 884

Re: 529 Plan during the college years

gavinsiu wrote: Mon Jun 26, 2023 9:44 am When your kids head off to college and is tapping the plan 529, do you continue to contribute to it to get the additional tax savings? Let's say you empty the 529 within the first or second year, would you then contribute $10K to the Plan 529 even though it will just pass through? Most of the federal tax credit appears to have an income limit. IL appears to have only a tax credit for K12 education expenses.
Yes, I do just that. NY 529 Plan.
by Outafter20
Sun Jun 25, 2023 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone use Capital One 360? Looking to move from Alliant
Replies: 41
Views: 5439

Re: Anyone use Capital One 360? Looking to move from Alliant

I used Discover, which is also at 4.15% yield and offers bonuses every now and again for new money. I just transferred in $15,000 in for $150 after 60 days. I prefer Discover as their customer service is 100% USA based.

I currently have a Capital One 360 account that I keep open with a zero balance because they too offer bonuses for new money every so often. Capital One, Ally, Marcus and Discover all tend to play leap frog with their rates, with Marcus being the one that tends to "leap" higher first.
by Outafter20
Sat Oct 29, 2022 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Marcus High-Yield Savings Account rate increases
Replies: 319
Views: 53794

Re: Marcus High-Yield Savings Account rate increases

Capital One is up to 3% today. I must say that's pretty good. Why don't they receive more attention? I sense that Cap1 don't get much love here for some reason. I have a CO360 account, but I will say they're a bit of a hassle. The primary complaint is that they will roll out a new product with the competitive rate, while leaving old products languishing at non-competitive rates. For example, I started with the CO360 Money Market account which was "the product" of its day. However, CO360 Money Market is currently only at 0.8%, since they subsequently came out with CO360 Performance Savings which is currently at 3.0%. So with Capital One, you have to be on the lookout for when they roll out a new product and transfer your account i...
by Outafter20
Sat Oct 29, 2022 8:35 am
Forum: Personal Investments
Topic: VTSAX/VTI mutual fund to ETF conversion
Replies: 6
Views: 869

Re: VTSAX/VTI mutual fund to ETF conversion

ruud wrote: Fri Oct 28, 2022 8:45 pm
Outafter20 wrote: Fri Oct 28, 2022 7:17 pm Glad to hear the cost basis was converted correctly. After your VSIGX was converted, it just showed the one combined position of VGIT?
Yes, it showed as one line item in “balances and holdings” but the cost basis still tracked the lots that were purchased as VSIGX and as VGIT as separate lots.
Thanks. That answers my questions.
by Outafter20
Fri Oct 28, 2022 7:17 pm
Forum: Personal Investments
Topic: VTSAX/VTI mutual fund to ETF conversion
Replies: 6
Views: 869

Re: VTSAX/VTI mutual fund to ETF conversion

ruud wrote: Fri Oct 28, 2022 7:14 pm
Outafter20 wrote: Fri Oct 28, 2022 7:02 pm Did anyone ever have both share classes of the same fund in their account at the same time?
Yes, we had VSIGX (Intermediate Term Treasury Index) converted to VGIT (Intermediate Term Treasury ETF) while already holding some VGIT.
Also, as an aside, did anyone have any cost basis issues once the conversion was completed?
For us, the cost basis was converted correctly, lot-for-lot.
Glad to hear the cost basis was converted correctly. After your VSIGX was converted, it just showed the one combined position of VGIT?
by Outafter20
Fri Oct 28, 2022 7:12 pm
Forum: Personal Investments
Topic: VTSAX/VTI mutual fund to ETF conversion
Replies: 6
Views: 869

Re: VTSAX/VTI mutual fund to ETF conversion

I have VTSAX. I already TLH earlier in the year and all my lots have gains, so that's out.
by Outafter20
Fri Oct 28, 2022 7:02 pm
Forum: Personal Investments
Topic: VTSAX/VTI mutual fund to ETF conversion
Replies: 6
Views: 869

VTSAX/VTI mutual fund to ETF conversion

Good Evening.

A quick question for anyone out there who might have gone through the same thing. I currently make monthly purchases of VTSAX in my Vanguard Brokerage Account. I am looking to switch over and make monthly purchases of VTI as you can now but ETFs in dollar amounts. However, I don't know when I will be able to get around to calling Vanguard to convert my existing VTSAX to VTI.

Did anyone ever have both share classes of the same fund in their account at the same time?

Also, as an aside, did anyone have any cost basis issues once the conversion was completed?

Thanks.
by Outafter20
Tue Aug 16, 2022 9:51 pm
Forum: Personal Investments
Topic: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)
Replies: 13
Views: 1319

Re: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)

I live in NY and have a very high tax rate. I stick with VWIUX for my bond allocation in my taxable account. (7 figures invested). I would rather have an intermediate term bond diversified federally than a long term bond (interest rate risk) in one state. My recommendation in this situation is a 50/50 split between Limited-Term Tax-Exempt and NY Long-Term Tax-Exempt; this gives you an overall intermediate-term duration, with half your bonds in NY but more than half your bond interest exempt from NY tax. I don’t plan on living in NY my entire life anyway- possibly move to a state with no income tax. This isn't a problem; if you leave NY, you can sell your NY muni fund, which will likely have only a small capital gain or loss, and switch to ...
by Outafter20
Mon Aug 15, 2022 7:17 pm
Forum: Personal Investments
Topic: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)
Replies: 13
Views: 1319

Re: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)

Yes, I plan on spreading out the risk. I have seven figures in my taxable portfolio as well and even with an 80/20 allocation, it would save me a nice chunk of change (even if it's mostly federal tax) moving over to munis. I also don't think I will be in New York the rest of my life, so using munis from other states would be good for diversification.
by Outafter20
Mon Aug 15, 2022 5:51 pm
Forum: Personal Investments
Topic: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)
Replies: 13
Views: 1319

Re: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)

retiredjg wrote: Mon Aug 15, 2022 2:50 pm
Outafter20 wrote: Mon Aug 15, 2022 1:43 pm I am getting crushed with NYS taxes which is why I would like to switch over. I am assuming it is reported as tax exempt interest on page 2 of the Vanguard 1099?
If you are getting crushed with NYS taxes, you may have too much of your bond allocation in taxable in the first place. If you have a choice, putting more bonds in tax-deferred accounts could help that.

Not everybody has a choice. :happy

I would not have a large portion of my bond allocation in 1 state's munis. The risk of 1 state is too concentrated.
Unfortunately I don't have much of a choice...and I agree with you 100% on the concentration of one state's munis.
by Outafter20
Mon Aug 15, 2022 1:56 pm
Forum: Personal Investments
Topic: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)
Replies: 13
Views: 1319

Re: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)

Any Bogleheads here own the Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)? I am thinking about switching my bond portion in my taxable to VNYUX. Have the distributions been 100% federal & state tax free? Also, how are they reported on Vanguard's 1099? Thanks! I don't own this particular fund, but I used to own the two California muni bond funds from Vanguard. If you're in a high enough tax bracket, then owning the NY fund could make sense. The distributions will be exempt from both NY and Federal income taxes. The interest earned will be reported as tax-exempt interest (dividends) on the 1099 and reported on line 2a of your Form 1040. Regards, I am getting crushed with NYS taxes which is why I would like to switch ...
by Outafter20
Mon Aug 15, 2022 1:43 pm
Forum: Personal Investments
Topic: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)
Replies: 13
Views: 1319

Re: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)

Any Bogleheads here own the Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)? I am thinking about switching my bond portion in my taxable to VNYUX. Have the distributions been 100% federal & state tax free? Also, how are they reported on Vanguard's 1099? Thanks! I don't own this particular fund, but I used to own the two California muni bond funds from Vanguard. If you're in a high enough tax bracket, then owning the NY fund could make sense. The distributions will be exempt from both NY and Federal income taxes. The interest earned will be reported as tax-exempt interest (dividends) on the 1099 and reported on line 2a of your Form 1040. Regards, I am getting crushed with NYS taxes which is why I would like to switch ...
by Outafter20
Sun Aug 14, 2022 6:06 pm
Forum: Personal Investments
Topic: Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)
Replies: 13
Views: 1319

Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)

Any Bogleheads here own the Vanguard New York Long-Term Tax-Exempt Fund Admiral Shares (VNYUX)? I am thinking about switching my bond portion in my taxable to VNYUX. Have the distributions been 100% federal & state tax free? Also, how are they reported on Vanguard's 1099?

Thanks!
by Outafter20
Sat Apr 30, 2022 1:29 pm
Forum: Personal Investments
Topic: Error in Treasury Direct
Replies: 51
Views: 14686

Re: Error in Treasury Direct

Got the same exact email when my daughter tried opening up her own TD account when she turned 18 two weeks ago. Her savings bonds were linked to my account until she turned 18. Now that she is 18 she needs to "delink" her account and open her own account. We filled out the form with a medallion signature and mailed it on 3/7. As of today she still cannot access her account. Typical US Government nonsense. Just had same issue with our 18 year old. Will need to send in the form with Medallion signature at the bank. Sigh. Never had this for our TD accounts. Good luck. My daughter's account is now a solo account. From the time I dropped the form in the mailbox to the time the account was up and running took just under 2 weeks.
by Outafter20
Sat Apr 23, 2022 10:00 pm
Forum: Personal Consumer Issues
Topic: How can I write a letter to Tim Buckley, CEO of Vanguard?
Replies: 71
Views: 9928

Re: How can I write a letter to Tim Buckley, CEO of Vanguard?

tj wrote: Sat Apr 23, 2022 9:54 pm
BabaWawa wrote: Sat Apr 23, 2022 9:16 pm I too have been extremely disappointed with Vanguard's poor customer service. The way we get Tim Buckley's attention is when enough of us move accounts away from Vanguard.

That's not true. Vanguard benefits when we transfer our vanguard holdings to another broker. Yoh would have to actually sell your vanguard assets to accomplish what you want to accomplish.
Agreed. I am still up in the air if I am going to move our assets away from Vanguard to Schwab. If we did, I would sell all of our Vanguards funds (the ones in the tax deferred accounts anyway) and buy Schwab's index funds. My feeling is if Vanguard annoyed me enough that we had to move our accounts away from them, why should we patronize them by holding their funds?
by Outafter20
Thu Mar 31, 2022 9:22 pm
Forum: Investing - Theory, News & General
Topic: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases)
Replies: 217
Views: 33256

Re: Vanguard now allows purchase/sale of dollar amounts for Vanguard ETFs (fractional purchases) (might be in pilot phas

abuss368 wrote: Thu Mar 31, 2022 9:10 pm Imagine after Vanguard rolls this out to all clients, the next step could be adding the option to have dividends from ETFs deposited into a bank account directly.

Best.
Tony
I have been hoping for this for quite sometime.
by Outafter20
Wed Mar 16, 2022 12:07 pm
Forum: Personal Investments
Topic: Error in Treasury Direct
Replies: 51
Views: 14686

Re: Error in Treasury Direct

Got the same exact email when my daughter tried opening up her own TD account when she turned 18 two weeks ago. Her savings bonds were linked to my account until she turned 18. Now that she is 18 she needs to "delink" her account and open her own account. We filled out the form with a medallion signature and mailed it on 3/7. As of today she still cannot access her account.

Typical US Government nonsense.
by Outafter20
Thu Feb 10, 2022 8:40 am
Forum: Personal Finance (Not Investing)
Topic: CD discussion thread
Replies: 1214
Views: 188400

Re: Best CD rates thread

My post might be a bit off topic, but Discover Bank is offering a $200 bonus to open an online savings account with a $25,000 deposit ($150 for a $15,000 deposit). You have 30 days to make the deposit.
by Outafter20
Sat Jan 15, 2022 9:21 pm
Forum: Investing - Theory, News & General
Topic: Schwab Information Thread with FAQ, Links, Tips and Q&A
Replies: 693
Views: 104185

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

I am thinking about moving 3 accounts over from Vanguard to Schwab - two traditional IRAs and one taxable brokerage account. One IRA is 80% VTSAX/20% VBTLX, one IRA is 100% VBIAX and the taxable brokerage account is 100% VFIAX. I plan on converting the VFIAX in the brokerage account to the VOO ETF. However, I would like to transfer the funds in the two IRAs over in kind and sell them when the accounts get to Schwab and buy the corresponding Schwab index funds (and buy the corresponding funds to replicate VBIAX). Not looking to get a waiver to buy Vanguard funds, I was just wondering will Schwab charges to sell Vanguard funds? I would have VG convert to ETF where applicable, and convert myself where they can't (bonds), and then transfer, if...
by Outafter20
Sat Jan 15, 2022 8:15 pm
Forum: Investing - Theory, News & General
Topic: Schwab Information Thread with FAQ, Links, Tips and Q&A
Replies: 693
Views: 104185

Re: Schwab Information Thread with FAQ, Links, Tips and Q&A

I am thinking about moving 3 accounts over from Vanguard to Schwab - two traditional IRAs and one taxable brokerage account. One IRA is 80% VTSAX/20% VBTLX, one IRA is 100% VBIAX and the taxable brokerage account is 100% VFIAX. I plan on converting the VFIAX in the brokerage account to the VOO ETF. However, I would like to transfer the funds in the two IRAs over in kind and sell them when the accounts get to Schwab and buy the corresponding Schwab index funds (and buy the corresponding funds to replicate VBIAX). Not looking to get a waiver to buy Vanguard funds, I was just wondering will Schwab charges to sell Vanguard funds?
by Outafter20
Sat Dec 11, 2021 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Vest Out Early? [Pension]
Replies: 14
Views: 1758

Re: Vest Out Early? [Pension]

Que1999... I PMed you.
by Outafter20
Wed Sep 08, 2021 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Change in NYC Retiree Health Care Benefits.
Replies: 73
Views: 10531

Re: Change in NYC Retiree Health Care Benefits.

Raising this question again; we've gotten more information , but the connundrum for me is if we go with this new PPO plan and then want to switch back to ordiginal Medicare, getting a supplement will be subject to medical underwriting. Group Medigap policies are not medically underwritten. You would only be subject to medical underwriting if you buy your own policy. The Medigap premium may increase if only the sickest retirees stay on Original Medicare. On the other hand, wealth is correlated with better health, and the wealthier retirees will be more likely to buy the Medigap policy. It has been made clear that if we opt out of the MA PPO and stick with traditional Medicare, we will be on our own getting Medigap policies. Can we get a Med...
by Outafter20
Fri Sep 03, 2021 11:21 pm
Forum: Investing - Theory, News & General
Topic: Charles Schwab & Co. jacks up mutual fund commissions 50% to $74.95 on retail investors to counter freeloading by Vangua
Replies: 132
Views: 21063

Charles Schwab & Co. jacks up mutual fund commissions 50% to $74.95 on retail investors to counter freeloading by Vangua

https://riabiz.com/a/2021/8/31/charles- ... -crossfire

Was thinking about moving our accounts over to Schwab, so I guess we would have to convert from mutual funds to ETFs first.We do have some Primecap that I will probably hold on to.
by Outafter20
Sun Aug 15, 2021 7:33 am
Forum: Investing - Theory, News & General
Topic: [Vanguard may remove secure messages, members transitioning out of Vanguard]
Replies: 1334
Views: 127729

Re: [Vanguard may remove secure messages, members transitioning out of Vanguard]

Tubes wrote: Sun Aug 15, 2021 7:11 am This is so weird. I saw the PAS stuff years ago when first introduced. I haven't gotten an email, pop up or banner in a long time since.

I don't recall ever telling them to put me on a list either. Strange.
Same. I got one post card a while back and maybe once every 2-3 months (if that) I see a pop up. I don't think I ever got an email. I never opted out of any marketing.

I am Flagship if that makes a difference.
by Outafter20
Thu Aug 12, 2021 6:51 am
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2020 tax refund?
Replies: 437
Views: 49802

Re: How quickly did you receive your 2020 tax refund?

E-filed May 19th and still waiting. It seems you either get the refund within 21 days or else wait 3-4 months. Though some people have been waiting 4+ months and that is concerning. Our refund is big due to an adoption tax credit and is earmarked to pay off the minivan we bought. My frustration is tempered by the fact that we're supposedly earning 3% interest on the refund while the car loan is .9%. Thanks for all those who have updated when they received their refunds- it's been very helpful and eases the anxiety that there's something wrong with our return. Most likely, it needs a human to sign off on it and it's just in a backlog. How times have changed. We used the adoption tax credit back in 2005 which gave us a $0 federal tax bill fo...
by Outafter20
Wed Aug 04, 2021 9:45 am
Forum: Investing - Theory, News & General
Topic: [Vanguard may remove secure messages, members transitioning out of Vanguard]
Replies: 1334
Views: 127729

Re: VG Removing Message Center [Vanguard]

FWIW, I have not had a reply to the secure message to I sent to VG on Saturday. I have north of $150k in Vanguard assets over my various accounts (brokerage, IRA, etc.), but my overall account balance is much higher as it has stocks and non-VG assets. Consequently, I am coming to believe what was hinted at upthread a few times- that VG is trying to unload people they consider to be "free-riders" that do not have enough (in VG's estimation) Vanguard assets in their accounts. My new cash has started going to Fidelity and I will sit down and figure the mechanics of moving everything else when I have a moment. This is a headache I did not need, and I'm quite disappointed in VG. The "free-riders" concept is what concerns me....
by Outafter20
Wed Aug 04, 2021 9:25 am
Forum: Investing - Theory, News & General
Topic: [Vanguard may remove secure messages, members transitioning out of Vanguard]
Replies: 1334
Views: 127729

Re: VG Removing Message Center [Vanguard]

FWIW, I have not had a reply to the secure message to I sent to VG on Saturday. I have north of $150k in Vanguard assets over my various accounts (brokerage, IRA, etc.), but my overall account balance is much higher as it has stocks and non-VG assets. Consequently, I am coming to believe what was hinted at upthread a few times- that VG is trying to unload people they consider to be "free-riders" that do not have enough (in VG's estimation) Vanguard assets in their accounts. My new cash has started going to Fidelity and I will sit down and figure the mechanics of moving everything else when I have a moment. This is a headache I did not need, and I'm quite disappointed in VG. The "free-riders" concept is what concerns me....
by Outafter20
Tue Aug 03, 2021 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Change in NYC Retiree Health Care Benefits.
Replies: 73
Views: 10531

Re: Change in NYC Retiree Health Care Benefits.

True, but this Medicare Advantage Plan is an alliance between Empire BCBS (which covers Part A) and EmblemHealth (which covers Part B). EmblemHealth has a much larger market share in the New York area than it does anywhere else in the country. If you tend to see a lot of doctors, but aren't hospitalized often, this plan might work better in New York. That's better than relying on the Blue Cross network in New York, but it's not as universal as relying on the Blue Cross network in Alabama. There will be doctors in New York who don't take EmblemHealth, but doctors in Alabama will starve if they don't take Blue Cross. Also, are you sure that Blue Cross isn't also covering Part B? The teachers' union FAQ says that the provider network includes...
by Outafter20
Tue Aug 03, 2021 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Change in NYC Retiree Health Care Benefits.
Replies: 73
Views: 10531

Re: Change in NYC Retiree Health Care Benefits.

I am a retired NYC employee but still a ways off from Medicare. However, from everything I have been reading (and my union was the only one in the MLC to vote against it), I would stick with the traditional Medicare and pay for the supplement. Especially if you live outside NYC. Ironically, you're probably more likely to have trouble in New York. Blue Cross has relatively low market share in New York. It would be easier in other states where Blue Cross has higher market share. For example, Blue Cross has 99% of the non-Medicare market in Alabama. A doctor who won't accept payment from Blue Cross will starve. True, but this Medicare Advantage Plan is an alliance between Empire BCBS (which covers Part A) and EmblemHealth (which covers Part B...
by Outafter20
Tue Aug 03, 2021 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Change in NYC Retiree Health Care Benefits.
Replies: 73
Views: 10531

Re: Change in NYC Retiree Health Care Benefits.

BarbBrooklyn wrote: Tue Aug 03, 2021 5:17 pm For those of you who are reading this, would you opt into this plan?
I am a retired NYC employee but still a ways off from Medicare. However, from everything I have been reading (and my union was the only one in the MLC to vote against it), I would stick with the traditional Medicare and pay for the supplement. Especially if you live outside NYC.
by Outafter20
Mon Aug 02, 2021 5:07 pm
Forum: Personal Investments
Topic: What benefit does reaching Flagship status give me?
Replies: 67
Views: 7199

Re: What benefit does reaching Flagship status give me?

I think this is the right forum to post in, if not then Mods please move it to where it belongs. It is a coincidence that the "Message Center" thread has generated many comments about poor service at Vanguard and some mentions that seem to indicate that Flagship status is not worth much but those comments are not why I am asking this. In June I reached Flagship status. :D I called and asked to be upgraded from Voyager Select. I was told I need to maintain a $1M+ balance for 3 months and they check it on the last Friday of each month. I mention that just as an aside. So I was good in June and now for July I'm still OK. If on the last Friday of August my holdings remain above $1M then I should be at Flagship status. So this is very...
by Outafter20
Fri Jul 09, 2021 6:57 am
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2020 tax refund?
Replies: 437
Views: 49802

Re: How quickly did you receive your 2020 tax refund?

Outafter20 wrote: Tue May 04, 2021 7:05 am E-Filed Federal & State return on 3/14. Received state within 3 weeks. Still waiting on Federal. No special credits claimed and used the standard deduction. The only thing that I can think of that is holding it up is the large direct rollover (upper seven figures) reported on my return from several retirement funds into my Vanguard IRA. Refund is around $1500.
Update: My refund showed as pending in by bank account yesterday afternoon and this morning "Where's my refund?" showed as "Refund Approved".
Not sure if it helped, but I contacted my Senator's office (Chuck Schumer) a few weeks ago in regards.
by Outafter20
Mon Jun 21, 2021 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Have Any Bogleheads Sold Their House On Redfin?
Replies: 15
Views: 2699

Re: Have Any Bogleheads Sold Their House On Redfin?

I used Redfin about 8 years ago when I sold my house. Then it was a 1% fee to Redfin and a 2.5% fee to the listing agent. Al in all, no problems.

I guess things have changed a bit.
by Outafter20
Mon Jun 14, 2021 7:29 am
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2020 tax refund?
Replies: 437
Views: 49802

Re: How quickly did you receive your 2020 tax refund?

HoosierMike wrote: Sun Jun 13, 2021 8:12 pm -I finally contacted my US Senator, Todd Young and asked for assistance in getting IRS to at least "acknowledge" they are having problems and provide a current estimate for refunding our money.
-Senator Young was on our local CBS tv station explaining how he has found quite a few of us with the same problem as was seeking some resolution from IRS officials.
-Don't know what else to do, but at least our elected reps are aware of the situation.

Regards,
Mike D
I just emailed a request to my US Senator, Chuck Schumer this morning. We'll see what happens.
by Outafter20
Sat Jun 12, 2021 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2020 tax refund?
Replies: 437
Views: 49802

Re: How quickly did you receive your 2020 tax refund?

Efiled Fed 2/28/21 with H&R Block. IRS accepted it on 3/1/21. Still waiting on refund. Substantial changes will be made by IRS. $10,200 Unemployment exclusion put us under $150,000 AGI changing our refund, changing our Recovery Rebates, and made us eligible for CARES ACT payments, which we weren’t eligible for using 2019 AGI. Filed NY on paper shortly after Fed and received refund in a few weeks. Have yet to file MA as we owe $519. (Worked in NY, live in MA) Update: Still waiting on Federal, still shows as processing. Mailed MA return in with check for balance owed on 5/14. MA DOR cashed check a week later. Update: Today, June 12th, pending IRS deposit in checking account for original refund amount plus 3% interest. We were in the situ...
by Outafter20
Fri May 28, 2021 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: 2020 refund statistical analysis
Replies: 16
Views: 1768

Re: 2020 refund statistical analysis

1) When did you file your return? 3/14
2) If you received a refund, when did you get it? No refund as of 5/28
3) How much was your refund (feel free to estimate?) $1500-ish
4) Did you have PPP loan forgiveness? No
5) Was the return e-filed? Yes
6) Was there a direct deposit? Yes, I requested direct deposit.

Spouse had unemployment income but our combined total income was over the total MAGI limit.
by Outafter20
Tue May 04, 2021 7:05 am
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2020 tax refund?
Replies: 437
Views: 49802

Re: How quickly did you receive your 2020 tax refund?

E-Filed Federal & State return on 3/14. Received state within 3 weeks. Still waiting on Federal. No special credits claimed and used the standard deduction. The only thing that I can think of that is holding it up is the large direct rollover (upper seven figures) reported on my return from several retirement funds into my Vanguard IRA. Refund is around $1500.