Search found 2124 matches

by MikeG62
Sun Oct 20, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Can you claim financial independence with kids still in school
Replies: 60
Views: 3023

Re: Can you claim financial independence with kids still in school

OP, it’s a bit unclear what you mean by “cut back a little bit with the work”. On the one hand, that does not sound like retiring now. Other comments you have made suggest it might be. I understand your wife’s desire to make sure they launch well in life. If you plan to help them finance their colle...
by MikeG62
Fri Oct 18, 2019 7:24 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

Just completed funding an IRA CD as well today. That took a bit longer, but IRA transfers typically do. Did they agree to lock the rate when you initiated the IRA transfer? I've done many, but I did get burned by the rate dropping once or twice, so I'm less willing to jump on these deals in an IRA ...
by MikeG62
Fri Oct 18, 2019 4:10 pm
Forum: Personal Investments
Topic: Selling muni bonds now or later?
Replies: 8
Views: 1024

Re: Selling muni bonds now or later?

The muni bond market is unique and investors should not wade in to the space without being prepared to hold until maturity. It seems you're more interested in trading vs. investing with a long term view. In the muni market that is a mistake. Agree with this advice. Muni’s are not for trading - not ...
by MikeG62
Fri Oct 18, 2019 1:00 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

If you set up a monthly transfer into the PSECU CD, it means exactly that, a monthly transfer (until you terminate it). I'm not sure what would happen to future transfers if there is insufficient money for the transfer in a certain month. I'm thinking the whole transfer series would be cancelled, b...
by MikeG62
Fri Oct 18, 2019 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Handling a substantial salary increase - suggestions?
Replies: 26
Views: 3259

Re: Handling a substantial salary increase - suggestions?

RickBoglehead wrote:
Thu Oct 17, 2019 3:20 pm
Avoiding significant lifestyle creep is key.
+1. Everything flows off of this.
by MikeG62
Fri Oct 18, 2019 6:49 am
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

Hi. If you set up the PSECU CD's to have $50K each month deposited( money from Marcus coming due in a couple of weeks) that means they will transfer $50K from the share account into the CD. Then you can reduce the amount I know say to 10K each month . But does that mean you have to put $10K into th...
by MikeG62
Thu Oct 17, 2019 1:57 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

Scooter57 wrote:
Thu Oct 17, 2019 1:20 pm
The value of information like this is why I have kept visiting this forum for years. Kevin M's advice about CDs has earned me many tens of thousands of dollars I wouldn't have had over the past 7 years.
Agree with you, Kevin is one of the most valuable contributors to this forum.
by MikeG62
Thu Oct 17, 2019 8:54 am
Forum: Investing - Theory, News & General
Topic: Fixed Income In Retirement
Replies: 17
Views: 1750

Re: Fixed Income In Retirement

Keep in mind that if interest rates stay low it's also very likely that inflation will remain low as well. So a bit of an offset there. Having said that, if one is really worried that interest rates could remain low for the next few decades, they may want to plan on an initial withdrawal rate below ...
by MikeG62
Thu Oct 17, 2019 7:04 am
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

Hey Kevin, Glad you found this deal/thread. You help a lot of people on these boards and it's good to get some benefit yourself. :D I know you've been taking advantage of a lot of CD specials the last 6-12 months, so I thought maybe you were passing on this one. Good to see you are not and that you ...
by MikeG62
Wed Oct 16, 2019 5:47 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

From the posts here, it sounds like you can't just provide PSECU with routing and account number of an external bank to fund the CD. I noticed there was no option to link an external bank account to my newly opened PSECU account on the PSECU website. I called PSECU and they said linking external ac...
by MikeG62
Mon Oct 14, 2019 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Sign on bonus and taxes
Replies: 14
Views: 1410

Re: Sign on bonus and taxes

This should answer your question: https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-was-paid-a-signing-bonus-in-2014-and-repaid-it-in-2015-how-does-this-effect-my-2014-tax-year/00/31647 And here (page 34): https://www.irs.gov/pub/irs-pdf/p525.pdf Also read page 35 which addresses...
by MikeG62
Mon Oct 14, 2019 9:17 am
Forum: Personal Investments
Topic: Bond Allocation Choices at Retirement
Replies: 10
Views: 1627

Re: Bond Allocation Choices at Retirement

Thought that treasuries were pretty safe so that is why I have them. Didn't want to complicate with bond or CD ladders or treasury direct purchases unless there was a compelling argument. Thank you for your response. I know of places where you can yield more (significantly more) in CD's than an int...
by MikeG62
Mon Oct 14, 2019 9:03 am
Forum: Personal Investments
Topic: How much to hold in cash?
Replies: 37
Views: 3444

Re: How much to hold in cash?

I've been musing on the famous Talmudic quote about investing “Let every man divide his money into three parts, and invest a third in land, a third in business, and a third let him keep by him in reserve,” and wondering people's thoughts on how much cash to hold generally speaking? What is your def...
by MikeG62
Mon Oct 14, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard keeps pushing their financial advisors...why?
Replies: 88
Views: 6404

Re: Vanguard keeps pushing their financial advisors...why?

Cheez-It Guy wrote:
Sun Oct 13, 2019 5:09 pm

You can remove yourself from the Vanguard mailings. I do not and have never received them. Update your communication and marketing preferences.
Can you please share the process to do that. I just spent 5 minutes on their site and cannot find anyway to do what you suggest.
by MikeG62
Mon Oct 14, 2019 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Selling used car experience (dealer vs online vs in person)
Replies: 24
Views: 1499

Re: Selling used car experience (dealer vs online vs in person)

... Kelly Blue book online offer is $17,600, the low end of trade in value, also subject to dealer inspection and approval 1.5 hours away . Offer godo for a few days. Local dealer said they are "not at that price" and have not told us what they would pay. We are going to try Carmax, seems like they...
by MikeG62
Mon Oct 14, 2019 7:08 am
Forum: Personal Consumer Issues
Topic: Social Security Card as Identification for Real ID
Replies: 78
Views: 5711

Re: Social Security Card as Identification for Real ID

OnTrack wrote:
Sun Oct 13, 2019 11:51 pm
MikeG62 wrote:
Sat Oct 05, 2019 7:45 pm
I lost my SS card 3 decades ago. Have never thought about or needed it since I lost it.
Did you ever get hired in a new job since you lost your SS card?
Yup, I sure have. Lost my SS card in high school and was hired a by a few different companies after that (retired now).
by MikeG62
Sun Oct 13, 2019 4:46 pm
Forum: Personal Investments
Topic: Money Market Decision
Replies: 32
Views: 2805

Re: Money Market Decision

PSECU is now open to anyone (after making a small ($10) donation to the Pennsylvania Recreation and Park Society). I've opened three CD's with them in the last two weeks. I got in by making the small donation. Unless something changed within the last year, the donation to PRPS will qualify for memb...
by MikeG62
Sun Oct 13, 2019 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: What’s the proper way to pay yourself in retirement?
Replies: 66
Views: 7831

Re: What’s the proper way to pay yourself in retirement?

... B) Do not re-invest your dividend, distribution, and interest from your taxable account. You have to pay taxes on those things. You have no choice. ... Lots of references throughout this thread to turning off automatic reinvestment of distributions in your taxable account. I get the logic of th...
by MikeG62
Sun Oct 13, 2019 1:44 pm
Forum: Personal Investments
Topic: Municipal Bond Now vs In Retirement?
Replies: 12
Views: 995

Re: Municipal Bond Now vs In Retirement?

I have what I hope is a simple question. Right now, municipal bonds give me a slight advantage in terms of tax equivalent yield. In retirement, however, I may be in a lower tax bracket, at which point taxable bonds would make more sense. How would one handle this situation? I am concerned about pay...
by MikeG62
Sun Oct 13, 2019 9:39 am
Forum: Investing - Theory, News & General
Topic: Adjusting AA based on equity risk premium
Replies: 52
Views: 3054

Re: Adjusting AA based on equity risk premium

I'll do you a favor before the anti market timers show up Adjusting your AA based on the ERP is entirely rational , sensible and logical. In fact, it IS one of the inputs to determine your ideal risk exposure in the context of mean-variance utility optimization. That people don't do it is a demonst...
by MikeG62
Sun Oct 13, 2019 9:34 am
Forum: Personal Investments
Topic: Municipal Bond Now vs In Retirement?
Replies: 12
Views: 995

Re: Municipal Bond Now vs In Retirement?

I have what I hope is a simple question. Right now, municipal bonds give me a slight advantage in terms of tax equivalent yield. In retirement, however, I may be in a lower tax bracket, at which point taxable bonds would make more sense. How would one handle this situation? I am concerned about pay...
by MikeG62
Sun Oct 13, 2019 9:20 am
Forum: Personal Investments
Topic: CD or invest?
Replies: 13
Views: 1323

Re: CD or invest?

Have 250k in CDs maturing, wondering if they should put back into CDs @ 2.6% for 3 years, or to put in wellington or Wellesley. OP, You can get 3.25% at PSECU for 3-years. That would be $1,625 more per year(almost $5,000 over the CD term) in interest than the rate you quoted. See this thread for mo...
by MikeG62
Sun Oct 13, 2019 9:14 am
Forum: Personal Investments
Topic: Fidelity Full View?
Replies: 47
Views: 5110

Re: Fidelity Full View?

Have not logged into Full View in months. Thought I'd try it again. Some improvements made - can now link accounts at financial institutions I could not before. Unfortunately, it won't update of all things my accounts "at Fidelity". I do have two factor authentication turned on with my Fidelity log-...
by MikeG62
Sun Oct 13, 2019 8:03 am
Forum: Personal Investments
Topic: Money Market Decision
Replies: 32
Views: 2805

Re: Money Market Decision

Thanks anon_investor - I like this idea! I do have a question though. Has anyone heard of PSECU (credit union)? They are currently offering a 3.25% rate for a 3 yr CD. It looks like they're located in Pennsylvania and have good reviews. That's a pretty good rate! I have used PSECU since 1997. Great...
by MikeG62
Sat Oct 12, 2019 2:32 pm
Forum: Personal Investments
Topic: Deferred Comp Question
Replies: 10
Views: 882

Re: Deferred Comp Question

Assuming there is no other significant source of income post employment than this comp, I think you would come out considerably better spreading the payout over time. More specifically, if you take it all in year 1, you will most certainly end up in the highest marginal income rate on a large portio...
by MikeG62
Sat Oct 12, 2019 9:59 am
Forum: Personal Investments
Topic: Retirees, when did you start really planning your retirement?
Replies: 53
Views: 4660

Re: Retirees, when did you start really planning your retirement?

I know that one should start planning one's retirement the moment one starts working, but I want to know is when do you need to start making moves, etc when retirement is coming up rather fast. I ask because the other day I was thinking that I am about 10 years from retirement. Is there anything I ...
by MikeG62
Sat Oct 12, 2019 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Ally Savings Rate drops to 1.8%
Replies: 42
Views: 5556

Re: Ally Savings Rate drops to 1.8%

ERISA Stone wrote:
Fri Oct 11, 2019 7:01 pm
abuss368 wrote:
Fri Oct 11, 2019 3:55 pm
greg24 wrote:
Fri Oct 11, 2019 3:54 pm
Vanguard PMM 1.97% 7-day yield
That is not a bad yield at all.
what's the ticker symbol for this one?
VMMXX
by MikeG62
Sat Oct 12, 2019 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard keeps pushing their financial advisors...why?
Replies: 88
Views: 6404

Re: Vanguard keeps pushing their financial advisors...why?

I found it interesting that in these emails promoting their services there is no unsubscribe button to stop getting these emails. They make you actually go and send them an email asking them to stop; which I did. About 2-3 weeks later I start getting a couple more emails so again I emailed them tel...
by MikeG62
Sat Oct 12, 2019 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Fence Replaced - Contractor Damaged Sprinkler System
Replies: 9
Views: 696

Re: Fence Replaced - Contractor Damaged Sprinkler System

I hold off on final payment until sprinkler system is repaired. Give the contractor a chance to fix the issue, should be fairly minor repairs. This has likely happened before and they have a sprinkler repair contractor that they use for repairs. I would not report to your homeowners insurance polic...
by MikeG62
Sat Oct 12, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Statements-Save Paper Ones? Electronic?
Replies: 35
Views: 1734

Re: Credit Card Statements-Save Paper Ones? Electronic?

Tip: For those that use cards that are Co-branded, remember that the issuing bank can change. Example would be Fidelity switching from American Express to Elan, Costco switching from American Express to Citi, etc. Why does that matter? Because the card you HAD had benefits like extended warranty. T...
by MikeG62
Sat Oct 12, 2019 6:23 am
Forum: Personal Finance (Not Investing)
Topic: Who has or Plans to Sign up for an IRS IP PIN
Replies: 11
Views: 1173

Who has or Plans to Sign up for an IRS IP PIN

Read two articles on the topic this morning. https://www.dontmesswithtaxes.com/2019/10/taxpayers-in-19-states-dc-now-can-get-special-irs-ip-pin-to-fight-tax-identity-theft-.html https://thefinancebuff.com/irs-ip-pin-stop-tax-return-fraud.html Curious what others are doing. On the one hand, I like th...
by MikeG62
Fri Oct 11, 2019 8:48 am
Forum: Personal Investments
Topic: Tbills, CD, high yield saving accounts?
Replies: 5
Views: 887

Re: Tbills, CD, high yield saving accounts?

Hi, I currently have 200K in a Barclays saving account at 1.9% and I live in California. The rate has been decreasing quite fast for the last few months, so I was looking at a better place where to put this money. One part is my EF, the other part is for my daughter's college and an other part is m...
by MikeG62
Fri Oct 11, 2019 8:37 am
Forum: Personal Finance (Not Investing)
Topic: What’s the proper way to pay yourself in retirement?
Replies: 66
Views: 7831

Re: What’s the proper way to pay yourself in retirement?

I too have turned off dividend and capital gains reinvestment in our taxable accounts. Dividends and interest on investments in our taxable accounts covers around 2/3rds of our annual spend. The rest is funded from a mix of maturing (or called) muni bonds and cash withdrawn from MMF's, no-penalty CD...
by MikeG62
Fri Oct 11, 2019 8:11 am
Forum: Personal Investments
Topic: 2-year CD?
Replies: 5
Views: 558

Re: 2-year CD?

I know the future is unpredictable, but are CD rates likely to be lower in 2 years? Is it a good idea to get a 2-year CD instead of a one year? Total Direct Bank is paying 2.60% for a 2-year lock-up. No guarantees about the future. Having said that, I have been investing in traditional CD's with pr...
by MikeG62
Fri Oct 11, 2019 7:56 am
Forum: Personal Finance (Not Investing)
Topic: What are your personal experiences with downside of early retirement?
Replies: 95
Views: 17177

Re: What are your personal experiences with downside of early retirement?

Downsides? Not many. Perhaps no longer earning a paycheck, the camaraderie of the people I worked closely with and the intellectual challenge/stimulation of my job. Having said that, I do not miss work at all . I never, ever think about work or what I would be doing at any particular time if I were ...
by MikeG62
Fri Oct 11, 2019 6:48 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Statements-Save Paper Ones? Electronic?
Replies: 35
Views: 1734

Re: Credit Card Statements-Save Paper Ones? Electronic?

RickBoglehead wrote:
Thu Oct 10, 2019 5:29 pm
I save the PDF version of every statement. Takes no space. I review them anyway, so just have to hit save.
+1.

I do the same thing with every statement for each financial institution I deal with.

Takes near zero time to hit save and vey little storage space on my computer.
by MikeG62
Thu Oct 10, 2019 3:29 pm
Forum: Personal Investments
Topic: Sell Vanguard New York Long-Term Tax-Exempt Fund when move out of NY?
Replies: 17
Views: 861

Re: Sell Vanguard New York Long-Term Tax-Exempt Fund when move out of NY?

Depending on her taxable income, she may owe zero capital gains tax. Or, you may be able to sell some each year in the 0% bracket. I think this is the key. Is her income such that she is paying any Federal tax on her capital gains? If she is already paying Federal tax on qualified dividends and cap...
by MikeG62
Thu Oct 10, 2019 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Phone call from First Data re possible debit card fraud
Replies: 7
Views: 684

Re: Phone call from First Data re possible debit card fraud

I got a call from First Data wanting to confirm activity in my Fidelity Cash Management account. She asked if I was Mr. ____, which I confirmed, then listed a few payments I made and asked if they were legitimate, which I also confirmed. She didn't ask for any other personal information. I began to...
by MikeG62
Thu Oct 10, 2019 7:42 am
Forum: Personal Investments
Topic: Implementing Investment Strategy
Replies: 10
Views: 651

Re: Implementing Investment Strategy

Hi, I have recently finished reading the book "Bogleheads’ Guide to Investing." I am a 19 year old college student with a sum of money I am looking to invest to take the best advantage of compound interest. I love to read things like this - a young person your age interested in investing. Bravo to ...
by MikeG62
Thu Oct 10, 2019 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Ally Savings Rate drops to 1.8%
Replies: 42
Views: 5556

Re: Ally Savings Rate drops to 1.8%

99% of the liquid funds I have in online banks (Ally and Marcus) is, and has been (since the spring of '19,) in no penalty CD's (I have a half dozen of them spread across the two banks so if I need access to funds I don't have to break one large NP CD). For the most part, just as liquid as online sa...
by MikeG62
Thu Oct 10, 2019 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Question about the Safe Withdraw Rate rule
Replies: 20
Views: 1405

Re: Question about the Safe Withdraw Rate rule

so $40K + (1.03) ^ 25 = $83,751? Assuming I want to retire in 25 years, I would need $80,751 x 25 = $2,093,777.93? Let me take a shot at it. If your current spending is $40,000 per year and you expect to retire in 25 years, then you need to adjust your current annual spend for inflation to determin...
by MikeG62
Wed Oct 09, 2019 6:24 pm
Forum: Personal Consumer Issues
Topic: Do you carry your passport with you during international travel?
Replies: 110
Views: 8627

Re: Do you carry your passport with you during international travel?

Jags4186 wrote:
Wed Oct 09, 2019 2:55 pm
Leave it in hotel safe.
^This. I have pictures of my passport and that of my DW's on my phone, which I always have with me.
by MikeG62
Wed Oct 09, 2019 3:04 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

Mike, You don't have to link psecu to Marcus AT ALL to be able to use Marcus' free wire to Psecu. At least I never did. Ok, makes sense - exactly what I did with the wire I sent from Fidelity to PSECU. The only thing was psecu called me to verify the wire request a few hours later b/c they wanted t...
by MikeG62
Wed Oct 09, 2019 2:57 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

I wanted to use Fidelity as a hub but they locked my account when I sent two wires out last month. So I am kind of back to the drawing board. Maybe others can chime in? OK, I called the Fidelity PC group to discuss this situation with wire lockdowns. I was told that under the anti-money laundering ...
by MikeG62
Wed Oct 09, 2019 2:28 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

I plan to send additional money to PSECU next week and again in Nov (from Marcus to Fidelity and then from Fidelity to PSECU) so I'd hate to have them lock my account (as happened to you). Maybe I'll call the PC group number and ask why PSECU is not linked for ACH transfers. MikeG62, Why don't you ...
by MikeG62
Wed Oct 09, 2019 12:41 pm
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

I too joined PSECU last week to take advantage of the CD rates. Did it all in "one day" - unfroze my Experian CR and ChexSystems account first, then opened the share account online (including supplying additional info requested by e-mails), then funded the account by wire transfer from Fidelity and...
by MikeG62
Wed Oct 09, 2019 8:51 am
Forum: Investing - Theory, News & General
Topic: Best CD rates thread
Replies: 98
Views: 9915

Re: Best CD rates thread

I didn't offer a CD offering to the discussion, just thinking anyone could go to depositaccounts.com and see the best rates depending on their needs. I will offer the PSECU (PENNSYLVANIA STATE EMPLOYEES CREDIT UNION) promotion noted above - I completed the application for the share account Mon. aft...
by MikeG62
Wed Oct 09, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 131
Views: 27352

Re: Anyone want to share their monthly budget? Here's ours

SQRT wrote:
Fri May 24, 2019 7:44 am
Perhaps a separate thread for retirees? I would post mine to start one but too far out of normal range to be of much use.
Ha-ha, me too. We'd be assaulted by the frugal police if we did. :sharebeer
by MikeG62
Wed Oct 09, 2019 6:31 am
Forum: Personal Investments
Topic: Mega Backdoor Roth or Taxable?
Replies: 5
Views: 726

Re: Mega Backdoor Roth or Taxable?

My wife and I are hoping to retire when we are 50-55 (we are in our mid-30s). My question for the group is given this goal is it better to plow every extra dollar into our taxable account (100% VTSAX) or balance between the taxable and mega backdoor Roth? I know there are options to withdraw from r...
by MikeG62
Tue Oct 08, 2019 2:38 pm
Forum: Personal Investments
Topic: Gnarly defaulted Puerto Rico muni bond cost basis question
Replies: 3
Views: 534

Re: Gnarly defaulted Puerto Rico muni bond cost basis question

...Recently, the bond insurer paid out a portion of the principal because of the bond's maturity- -about 38 cents per dollar of par that matured last July. Does anyone know how this would be reported for capital gain Federal taxes - -a gain (because the bonds were purchased at less than par), a los...