Search found 960 matches

by MikeG62
Wed Aug 15, 2018 4:09 pm
Forum: Investing - Theory, News & General
Topic: Why are 1yr Treauries paying more than 1yr brokered CDs?
Replies: 13
Views: 816

Re: Why are 1yr Treauries paying more than 1yr brokered CDs?

On Vanguard's site, it looked to me like you need to buy >=$100K to get that high rate on the 1 year Treasury, and only >=$10K for the 1 year CD. Right now you can buy the 8/15/19 Treasury Note at at yield of 2.401% in quantity 1. At 100, you can get 2.428%. At 200, you can get 2.439%. (These are l...
by MikeG62
Wed Aug 15, 2018 3:43 pm
Forum: Investing - Theory, News & General
Topic: Why are 1yr Treauries paying more than 1yr brokered CDs?
Replies: 13
Views: 816

Re: Why are 1yr Treauries paying more than 1yr brokered CDs?

On Vanguard's site, it looked to me like you need to buy >=$100K to get that high rate on the 1 year Treasury, and only >=$10K for the 1 year CD. Right now you can buy the 8/15/19 Treasury Note at at yield of 2.401% in quantity 1. At 100, you can get 2.428%. At 200, you can get 2.439%. (These are l...
by MikeG62
Tue Aug 14, 2018 6:29 am
Forum: Personal Finance (Not Investing)
Topic: Marriage [How should finances be handled?]
Replies: 58
Views: 4412

Re: Marriage [How should finances be handled?]

Hi all, Do we continue investing/saving/ paying down our student loans in the same way as before marriage? How will taxes effect us? Thank you :beer Yes to your first question. Why would you stop any of these things. Income taxes should go down as you now will file jointly (with more favorable rate...
by MikeG62
Tue Aug 14, 2018 6:18 am
Forum: Personal Finance (Not Investing)
Topic: How to have “what if” discussion with retired parents?
Replies: 48
Views: 4239

Re: How to have “what if” discussion with retired parents?

...it would still be helpful for your children to know where your accounts are, where your safe deposit box is, and at least where to look for account numbers and passwords. Any one of us could get hit by a bus tomorrow. POA/Health Care Proxy would also be handy. +1. DW and I are 53 and 56, respect...
by MikeG62
Mon Aug 13, 2018 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Contract Renewal Negotiation (email)
Replies: 9
Views: 952

Re: Contract Renewal Negotiation (email)

Thank you to those that have responded. I should add that the email initially sent to me requested a response in a week with any 'feedback'. Does that change anyone's advice? I initially intended on sending a reply first thing Monday morning. However after a couple individuals mentioned not respond...
by MikeG62
Mon Aug 13, 2018 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Financial Advisor Mandatory?
Replies: 36
Views: 3031

Re: Financial Advisor Mandatory?

...We have another couple that we know and they shared last night at dinner that they pay 3.5% per year for their 2 advisor s. Crazy stuff, I just politely nodded. Male half said as long as they were "making him money," that he was ok with the fees. Don't ever take any financial advice from these f...
by MikeG62
Mon Aug 13, 2018 7:18 am
Forum: Personal Finance (Not Investing)
Topic: High Deductible Health Plans & Retirement
Replies: 11
Views: 1516

Re: High Deductible Health Plans & Retirement

Only one procedure or E.R. visit is all that one needs to hit their deductible, so that means the 2nd, 3rd, 4th, ... procedures are essentially free. I wish my health insurance were this good (from a cost sharing perspective). Once I hit my deductible, my cost share is 50 cents on the dollar until ...
by MikeG62
Mon Aug 13, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard updated 1099 in August!
Replies: 28
Views: 1939

Re: Vanguard updated 1099 in August!

...Jokes aside, how often does it happen does updated 1099s get issued after the initial filing deadline? I usually file around early April. In my experience, getting corrected 1099's has gotten a lot better over the years. Going back 10-12 years ago, it was common for me to get corrected 1099's fr...
by MikeG62
Sun Aug 12, 2018 8:30 am
Forum: Investing - Help with Personal Investments
Topic: RSUs with long term potential
Replies: 9
Views: 787

Re: RSUs with long term potential

OP, Another option would be to hold onto these stock grants (some/most) on the possibility you hit the "home run" with them. Recently IPO'd tech company likely either kills it or fades away (less likely to just plod along). You need to consider the size of the grants and what they could be worth eve...
by MikeG62
Sun Aug 12, 2018 8:00 am
Forum: Investing - Help with Personal Investments
Topic: “Safe” investment approaching retirement
Replies: 17
Views: 1648

Re: “Safe” investment approaching retirement

Will retire in about a year. I am very well off financially and want to preserve what I have. I intend to keep about 50% in index funds but with the bond portion, I would be happy to get a few percent a year rather than risk it if stock market crashes and interest rates soar. Any suggestion for sho...
by MikeG62
Sun Aug 12, 2018 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Private Banking is a trap. Don't do it!
Replies: 55
Views: 6841

Re: Private Banking is a trap. Don't do it!

Simply thank them for the opportunity to try out the service, but it's not for you. Your requirements do not require the "sophistication" they offer, you are moving your relationship back to the brick and mortar office and/or moving it outside to another institution. It's your money and it's your c...
by MikeG62
Sun Aug 12, 2018 7:40 am
Forum: Personal Finance (Not Investing)
Topic: How to have “what if” discussion with retired parents?
Replies: 48
Views: 4239

Re: How to have “what if” discussion with retired parents?

...What if you told your parents about YOU. You wouldn't have to tell them about your finances (how much you make....how much you have saved of things like that)....but you could tell him your plans if you and your wife were to die together. You could tell them...that you have everything financial ...
by MikeG62
Sat Aug 11, 2018 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Paper checks yes or no?
Replies: 115
Views: 5830

Re: Paper checks yes or no?

I wrote 14 checks in the last 12 months. They were pretty much exclusively for quarterly property taxes and gifts to family/friends. I would like to write no checks, but am not there yet. On a separate (but somewhat related topic), I have recently (last 6 months) gone cashless. Well not 100%, becaus...
by MikeG62
Sat Aug 11, 2018 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance - confused about limits
Replies: 8
Views: 965

Re: Umbrella insurance - confused about limits

shishka wrote:
Fri Aug 10, 2018 10:23 pm


...Any benefit to 300k/500k that I currently have? Should I just go to 300k/300k, the minimum, because my current plan offers no extra benefit?
What is the difference in cost between $300K/$500K and $300K/$300K. I'd bet not a lot.
by MikeG62
Fri Aug 10, 2018 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: Moving from Vanguard to Fidelity
Replies: 55
Views: 6703

Re: Moving from Vanguard to Fidelity

Fidelity doesn't have an advertised bonus at this time, but you can always ask. Great point. Definitely ask - I’d be surprised if they won’t offer you one. Tell them you are considering other brokers during that discussion (to motivate them). I got them to give me $2,500 a few months ago from rolli...
by MikeG62
Fri Aug 10, 2018 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Should I tell my family/friend that they are making a financial mistake?
Replies: 87
Views: 7616

Re: Should I tell my family/friend that they are making a financial mistake?

This is a tough one and you should accept going in that you likely won't have much impact on their decision. Having said that, it may depend on how you came about knowing what they were doing. If they told you, then the door is more open for a "hey, what is your thinking in doing....have you conside...
by MikeG62
Fri Aug 10, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Response from boss re: market analysis
Replies: 71
Views: 7327

Re: Rude response from boss re: market adjustment

I took a couple hours of my own time yesterday to compose a professional request for an evaluation at my company for a market adjustment for my department. Background info is this is my part time job, full time job has had 3 market adjustments in the past 6 years while this job has offered 0. Gener...
by MikeG62
Thu Aug 09, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Total Market Index Fund on Taxable Account
Replies: 19
Views: 1481

Re: Fidelity Total Market Index Fund on Taxable Account

I think the distinction is in the fact that Vanguard has a patent (?) on the concept of ETF and mutual funds being different share classes whereas fidelity's ETF and mutual funds are not the same. so at fidelity it makes more sense IN TAXABLE account to hold the ETF, to minimize taxes since the ETF...
by MikeG62
Thu Aug 09, 2018 8:22 am
Forum: Investing - Help with Personal Investments
Topic: muni bonds in 12% tax bracket
Replies: 9
Views: 1006

Re: muni bonds in 12% tax bracket

---Is there a benefit to having bonds in taxable if the stock market crashed in half? Not sure how I should go with this, or how it makes a difference in my situation. If you hold stocks in taxable and the market crashes, your taxable account will be smaller. This is a problem for people who are co...
by MikeG62
Thu Aug 09, 2018 8:14 am
Forum: Investing - Help with Personal Investments
Topic: Need help with contributing to two 529s
Replies: 6
Views: 314

Re: Need help with contributing to two 529s

...Should I contribute so that both will reach $100k at the same time? Or, it doesn't even matter? What's the best practice? As others said, its really a matter of personal preference. Given your fact pattern (one child is 4 years older than the other) I would target getting them to the same amount...
by MikeG62
Thu Aug 09, 2018 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Employer will not indemnify me cause I am retired
Replies: 56
Views: 5271

Re: Employer will not indemnify me cause I am retired

I'd think about it this way. The employees are covered. Why? You are not getting paid nor getting covered. Why not? So why would you risk anything? I think the risk is very low. The plaintiffs have to prove beyond a reasonable doubt that I harmed or been negligent when: A. I am a volunteer, and a n...
by MikeG62
Thu Aug 09, 2018 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Regarding FIRE
Replies: 10
Views: 912

Re: Regarding FIRE

It's the investable assets you plan to live off. Also, depending on how early you plan to FIRE, you may want more than 25X expenses. That target was set assuming a 30 year retirement period. FIRE , by definition, assumes a retirement period longer than 30 years (and therefore one should plan to have...
by MikeG62
Thu Aug 09, 2018 7:05 am
Forum: Investing - Help with Personal Investments
Topic: Fidelity Total Market Index Fund on Taxable Account
Replies: 19
Views: 1481

Re: Fidelity Total Market Index Fund on Taxable Account

So far I have USD 5,700 in Fidelity Total Market Index Fund (taxable account). I don't really have any complaints about it. My current plan is to invest USD 2500-USD 5,000 to this same fund in taxable account. I do have Roth-IRA and current 401K plan with Vanguard though. I have no personal prefere...
by MikeG62
Wed Aug 08, 2018 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Total Market Index Fund on Taxable Account
Replies: 19
Views: 1481

Re: Fidelity Total Market Index Fund on Taxable Account

So far I have USD 5,700 in Fidelity Total Market Index Fund (taxable account). I don't really have any complaints about it. My current plan is to invest USD 2500-USD 5,000 to this same fund in taxable account. I do have Roth-IRA and current 401K plan with Vanguard though. I have no personal prefere...
by MikeG62
Wed Aug 08, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: "Millionaire Next Door" Net Worth Formula
Replies: 178
Views: 26131

Re: "Millionaire Next Door" Net Worth Formula

It's a very handy rule of thumb for assessing one's net worth status. Expected Net Worth = Age(years) * total_income * 10% Sounds WAY light to me. Some examples, 40 year old making $200K per year = ENW is $800K 50 year old making $250K per year - ENW is $1.25 million 55 years old making $300K per y...
by MikeG62
Wed Aug 08, 2018 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone taken out an online mortgage?
Replies: 32
Views: 2076

Re: Has anyone taken out an online mortgage?

Not exactly on point, but I opened a HELOC with Pen Fed back around 2003. It remained open for about a decade. In fact, I ended up paying off my remaining mortgage with the HELOC (when there was about 2-3 years left on the mortgage) as the rate on the HELOC was lower than the rate on my mortgage. I ...
by MikeG62
Wed Aug 08, 2018 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Employer will not indemnify me cause I am retired
Replies: 56
Views: 5271

Re: Employer will not indemnify me cause I am retired

Worked as counsel for a public company and we had several advisory boards. They were paid but had no actual authority and should not have been liable in any legal action. Nevertheless, they were covered by our indemnification bylaw and by D&O insurance. Even if the district won't indemnify you, you...
by MikeG62
Wed Aug 08, 2018 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Should I apply for United Explorer MileagePlus Card? Is it worth it in my situation?
Replies: 45
Views: 1992

Re: Should I apply for United Explorer MileagePlus Card? Is it worth it in my situation?

... In my initial post, I should have clarified that my objection to airline/hotel specific cards is the fact that some people use them as their primary card (putting nearly all spend on the card) while thinking they're getting a ton of benefits. Having those cards for their ancillary benefits (ass...
by MikeG62
Tue Aug 07, 2018 7:09 pm
Forum: Investing - Help with Personal Investments
Topic: Fee only advisor suggestion
Replies: 7
Views: 918

Re: Fee only advisor suggestion

...I’ve provided below situations where an advice-only FA can be very useful. To answer MikeG62’s specific questions : My FA was $250/hour. We spent 2 hours with her. But we didn’t need investment or AA advice (although she did a quick review): I have a background in institutional finance, and our ...
by MikeG62
Tue Aug 07, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Facebook asking banks for customer date "to offer more services" !?
Replies: 15
Views: 1006

Re: Facebook asking banks for customer date "to offer more services" !?

Facebook has not covered themselves in glory when it comes to protecting customer data.

Who in their right mind would opt into this?

Full disclosure, I don't have a FB account (never had one).
by MikeG62
Tue Aug 07, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Should I apply for United Explorer MileagePlus Card? Is it worth it in my situation?
Replies: 45
Views: 1992

Re: Should I apply for United Explorer MileagePlus Card? Is it worth it in my situation?

I'm not a big fan of Airline or Hotel specific cards (though I have had several for churning purposes) as it limits your flexibility. Depending on your goals, the Chase trifecta could be an effective path for earning points (to convert to miles) with nice perks and limited effort on an ongoing basi...
by MikeG62
Tue Aug 07, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Should I apply for United Explorer MileagePlus Card? Is it worth it in my situation?
Replies: 45
Views: 1992

Re: Should I apply for United Explorer MileagePlus Card? Is it worth it in my situation?

I just got this card myself (for the second time). Nice bonus miles and as you point out priority boarding and free checked bag. I would not count on being able to use the lounge passes. Many lounges are blacked out (such as in EWR). However maybe your experience will be better. Do you normally char...
by MikeG62
Tue Aug 07, 2018 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Fee only advisor suggestion
Replies: 7
Views: 918

Re: Fee only advisor suggestion

I used this site to get 3 suggestions for advice-only financial advisors in my area (who charge by the hour, not based on AUM - Assets Under Management): https://adviceonlyfinancial.com The site is run by Harry Sit, the author of The Finance Buff, who is also a respected BH poster. I paid $200 for ...
by MikeG62
Tue Aug 07, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Can I use my Donor Advised Fund to give extra cash to sponsor my kids travel sports team?
Replies: 75
Views: 4807

Re: Can I use my Donor Advised Fund to give extra cash to sponsor my kids travel sports team?

...The DAF has the responsibility to determine that all grants are to qualified charities. They don’t accept your word for it and I’ve seen them go to considerable lengths investigating the proposed grantee to determine it is a qualified charity. Gill My experienc exactly with the DAF I have set up...
by MikeG62
Tue Aug 07, 2018 6:05 am
Forum: Personal Finance (Not Investing)
Topic: Gifting through Renting?
Replies: 11
Views: 1062

Re: Gifting through Renting?

My eldest brother is planning on paying for his kid's housing by putting himself on the lease (just him, not his kid), and paying the $2600 a month in rent (yeah, that's the San Francisco Bay Area) to avoid having to file a gift tax return, since he doesn't want to lose any of his lifetime exemptio...
by MikeG62
Mon Aug 06, 2018 6:41 am
Forum: Investing - Theory, News & General
Topic: How are muni rates determined?
Replies: 25
Views: 1597

Re: how are muni rates determined?

My bond guy explained this to me once. Let me give it a try. Municipalities get approval to issue a certain number of bonds - say they want to raise $100 million so they are going to issue 100 thousand bonds (each bond being $1,000 face value). This for bonds issued at the market interest rate. How...
by MikeG62
Sun Aug 05, 2018 7:34 am
Forum: Investing - Help with Personal Investments
Topic: Fidelity charges to close accounts!
Replies: 81
Views: 28150

Re: Fidelity charges to close accounts!

I just got hit with a $50 fee for rolling a Fidelity 401k ($70k or so in there) into a new Fidelity rollover IRA (done online). No mention of it while setting the IRA up, which is annoying. I have a feeling that a quick call will get it resolved, but any other advice on how to do it the quickest? A...
by MikeG62
Sun Aug 05, 2018 7:30 am
Forum: Investing - Help with Personal Investments
Topic: Market Timing Bonds vs. Money Market with Rising Interest Rates
Replies: 27
Views: 2855

Re: Market Timing Bonds vs. Money Market with Rising Interest Rates

I honestly don't get it "at the Macro Level". When the Fed announces that we are finally raising rates (2016), is it not clear to everyone that we will most likely be in a 2-4 year window of increasing interest rates? I certainly wouldn't try to time individual hikes, but the business cycle is the ...
by MikeG62
Sun Aug 05, 2018 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Consolidating Financial Accounts
Replies: 4
Views: 580

Re: Consolidating Financial Accounts

There is value in keeping your credit card account separate from your banking. Most (all?) credit card terms include a provision that in the event of a dispute, the bank has the right to raid your bank account(s) to satisfy the credit card debt. If your accounts are at another bank, they cannot do ...
by MikeG62
Sun Aug 05, 2018 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Has Anyone Used Grove for CFP Guidance?
Replies: 6
Views: 548

Re: Has Anyone Used Grove for CFP Guidance?

http:///www.hellogrove.com The idea is that you pay ~ a $600 flat fee, and they do checkups, create an investment plan, they'll manage your portfolio if you prefer (or won't if you don't), they claim to hold themselves to a fiduciary standard... I know nothing about these people, but here is the wa...
by MikeG62
Sun Aug 05, 2018 7:14 am
Forum: Investing - Theory, News & General
Topic: How are muni rates determined?
Replies: 25
Views: 1597

Re: how are muni rates determined?

It seems clear the market looks on your city’s debt obligations as poor credit and high risk. Gill And yet we have a MIG 1 rating from Moody’s. How can I reconcile that? My bond guy explained this to me once. Let me give it a try. Municipalities get approval to issue a certain number of bonds - say...
by MikeG62
Sun Aug 05, 2018 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 14046

Re: Will you pay for your kids' college/graduate education?

Yup, paid for 100% of the cost of college for both daughters. To me this felt no different that all of the other costs we picked up as they were growing up. This being the last one needed to get them to the point where they could stand on their own two feet (i.e., be able to provide for themselves)....
by MikeG62
Sun Aug 05, 2018 6:55 am
Forum: Personal Finance (Not Investing)
Topic: IRA conversion or take capital gains?
Replies: 8
Views: 508

Re: IRA conversion or take capital gains?

I retired last year and am waiting until age 70 to file for my SS. I have sufficient moneys in my taxable accounts to cover expenses. DW filled for SS this year and I will be getting spousal benefits on her account. Being in a low tax bracket I was considering doing IRA conversions to Roth to fill ...
by MikeG62
Sat Aug 04, 2018 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: For Those Who Purchased Ally No Penalty CD's in Dec/Jan
Replies: 69
Views: 10868

Re: For Those Who Purchased Ally No Penalty CD's in Dec/Jan

Up to 2% now for 25k. Ally's slow pace of reacting to Fed rate hikes is not serving them well. Had they increased this rate to 2.0% back in June I would like not have moved 95% of my cash from Ally to Fidelity's Premium Class MM. If their goal it to maintain or increase funds on deposit they need t...
by MikeG62
Sat Aug 04, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: When to transfer stocks to kids
Replies: 27
Views: 1519

Re: When to transfer stocks to kids

The issue is: do I help her now when it would be really helpful, or do I give it later on my demise. Hopefully, she would be in her mid ‘60’s by then and not likely in need. Obviously this is not a binary choice and my view is help a fair bit now (as long as it doesn’t cause “problems”) with the re...
by MikeG62
Sat Aug 04, 2018 7:29 am
Forum: Investing - Help with Personal Investments
Topic: For Those Who Purchased Ally No Penalty CD's in Dec/Jan
Replies: 69
Views: 10868

Re: For Those Who Purchased Ally No Penalty CD's in Dec/Jan

Up to 2% now for 25k. Ally's slow pace of reacting to Fed rate hikes is not serving them well. Had they increased this rate to 2.0% back in June I would like not have moved 95% of my cash from Ally to Fidelity's Premium Class MM. If their goal it to maintain or increase funds on deposit they need t...
by MikeG62
Sat Aug 04, 2018 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Comfort level with Credit Card Balance
Replies: 86
Views: 5193

Re: Comfort level with Credit Card Balance

Very comfortable as I pay all statement balances in full on the statement due date (using auto pay). We charge almost everything to CC's too, for the rewards and simplicity they provide.
by MikeG62
Fri Aug 03, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Hitting Milestone Early, and the Fiancee Response!
Replies: 20
Views: 4026

Re: Hitting Milestone Early, and the Fiancee Response!

In 2014 we started taking fiances and investment more seriously. We ended that year with 19k invested. Last week we hit 103k invested, with our goal for this whole year being to get to 100k. When I told my fiancee about this milestone the response I got was a monotone, disinterested sounding "Yay."...
by MikeG62
Thu Aug 02, 2018 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: How long have you been retired and how much have you spent on health out of pocket?
Replies: 18
Views: 1988

Re: How long have you been retired and how much have you spent on health out of pocket?

OP, this is a good thread. Always helpful to get real data. I retired in 2016 (DW had been a SAHM for a long time). I am 56 and DW is 53 with no employer provided health insurance. We buy in the marketplace (with no subsidy). We self insure for dental. Here is what we have spent by year: 2016: Healt...