Search found 2617 matches

by MikeG62
Thu May 28, 2020 9:28 am
Forum: Personal Investments
Topic: How to invest lots of maturing CDs in this investment climate
Replies: 13
Views: 1152

Re: 5 year CD at 2%

Also, even though the incremental yield of say a 5-year CD at 2% over the current yield of your savings account isn't much, that yield is locked in for five years (with an early withdrawal option), and the yield premium over a 5-year Treasury at 0.34% is about 165 basis points, which is higher than...
by MikeG62
Thu May 28, 2020 8:55 am
Forum: Personal Investments
Topic: Swedroe’s Bond Advice - no total bond index
Replies: 92
Views: 6034

Re: Swedroe’s Bond Advice - no total bond index

So I finally took the time to read Larry Swedroe’s The Only Guide to a Winning Bond Strategy You'll Ever Need. Great book for those of us who don’t understand or believe in bonds. Not sure I’m sold but I understand a lot more now. One thing perplexes me though so I need to ask. Bogleheads recommend...
by MikeG62
Wed May 27, 2020 1:11 pm
Forum: Personal Investments
Topic: Is Vanguard's Personal Advisor Service Worth It???
Replies: 79
Views: 6048

Re: Is Vanguard's Personal Advisor Service Worth It???

- assuming absent the 30bp management fee you’d otherwise give them the whole $200,000 to invest. [/quote] I didn't quite understand the last above two lines. Can you explain it. Thanks [/quote] I don't know if this $200k is all of your investable assets or whether you have, for example, an EF set ...
by MikeG62
Wed May 27, 2020 8:43 am
Forum: Personal Investments
Topic: CDs Versus VBTLX or VSIGX For Fixed Income
Replies: 6
Views: 600

Re: CDs Versus VBTLX or VSIGX For Fixed Income

I think it doesn't have to be one or the other. Many people use both CDs and bond funds for their fixed income holdings. If there is any part of your portfolio that you simply cannot risk, then use that to buy the CDs of appropriate time horizon(s) to meet your needs. Regards, +1. CD’s can be thoug...
by MikeG62
Wed May 27, 2020 8:40 am
Forum: Personal Investments
Topic: Tax exempt munis vs Treasury or both in Taxable
Replies: 8
Views: 823

Re: Tax exempt munis vs Treasury or both in Taxable

Thanks. Ideally I would prefer Treasuries over munis based on the credit risk and how they performed during the 2 most recent crises but since I’m in the highest federal tax bracket I don’t want to make a short term decision for a planned long term hold or make all decisions based on taxes and igno...
by MikeG62
Wed May 27, 2020 8:36 am
Forum: Personal Investments
Topic: Is Vanguard's Personal Advisor Service Worth It???
Replies: 79
Views: 6048

Re: Is Vanguard's Personal Advisor Service Worth It???

I use Vanguard's PAS, and only put the minimum ($50K) under their management. I self-manage the remainder of my portfolio, which closely resembles the plan that PAS puts together for me. At .3%, my costs are only about $150 a year. I actually call them quite a bit, and they have been extremely help...
by MikeG62
Mon May 25, 2020 7:32 am
Forum: Personal Investments
Topic: Is Vanguard's Personal Advisor Service Worth It???
Replies: 79
Views: 6048

Re: Is Vanguard's Personal Advisor Service Worth It???

If you actually need an advisor, Vanguard's PAS is definitely worth it and the only place I suggest. Or if you need an advisor until you get investing figure out, they are worth it. Good Advice. Personal story. A few months ago, I helped my recently divorced SIL put her share of the proceeds from t...
by MikeG62
Mon May 25, 2020 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Investors: be aware of weakness in 2FA + strengthening
Replies: 153
Views: 8391

Re: Investors: be aware of weakness in 2FA + strengthening

From what I have read, it is more difficult to SIM swap Verizon phones vs other phones. I'm not sure how true it is, but they say that the network verifies the IMEI of your phone with their records, which makes SIM swapping harder. Source: https://www.vice.com/en_us/article/kz438w/verizon-makes-sim...
by MikeG62
Mon May 25, 2020 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for Gifts?
Replies: 17
Views: 943

Re: Budgeting for Gifts?

Gifts aren’t any different than any other expense. One may not know the exact amount of every gift but one should be able to project a total amount for gifts and stick to it. Gifts certainly aren’t an emergency expense. Gill Agree with Gill. I include gifts in the discretionary category of our budg...
by MikeG62
Sun May 24, 2020 8:40 am
Forum: Personal Investments
Topic: Two bond funds, same index, vastly different maturities
Replies: 9
Views: 791

Re: Two bond funds, same index, vastly different maturities

Welcome to the forum. The iShares fund statistic "Weighted average maturity" is considering the bonds may be prepaid or called before the scheduled maturity date. See the info bubble next to the statistic. From the Vanguard page, they show the average stated maturity for the benchmark is 13.1 years...
by MikeG62
Sat May 23, 2020 10:33 am
Forum: Personal Finance (Not Investing)
Topic: How often do you change passwords on your investment accounts?
Replies: 35
Views: 1987

Re: How often do you change passwords on your investment accounts?

I use secure passwords (generated through LastPass). I do not change them for any of my accounts, including my investment accounts. Not saying I shouldn't be updating them, just that I have not been. I do have alerts set up at all financial institutions I have a relationship with. So in the very unl...
by MikeG62
Sat May 23, 2020 6:59 am
Forum: Personal Finance (Not Investing)
Topic: CapitalOne Venture would not forgive annual fee
Replies: 32
Views: 1853

Re: CapitalOne Venture would not forgive annual fee

I buy stuff with their credit card, accumulate points on all purchases at the same rate, and get rebates on any airline ticket purchases when I cash in the points-- which now looks like it'll be next year. I don't get more points for travel-related charges that I am aware of, so the pandemic does n...
by MikeG62
Sat May 23, 2020 6:49 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 354
Views: 25807

Re: The axe falls and I am prepared. What's next?

Folks, I am asking two separate questions: A) Under what financial condition, it is rewarding for me to take on part-time project work. At this moment, it looks like anything less than $90 per hour is not worthwhile. At the moment, I believe the $600 Federal top-off only extends to the end of July....
by MikeG62
Fri May 22, 2020 11:38 am
Forum: Personal Investments
Topic: Does Capital one send emails when their interest rate decreases?
Replies: 25
Views: 1086

Re: Does Capital one send emails when their interest rate decreases?

tashnewbie wrote:
Thu May 21, 2020 12:29 pm
I'm not aware of any banks that notify account holders when interest rates drop. Cap. One recently dropped from 1.5% to 1.3% APY on their Performance Savings account (within the last week or days, I think).
Both Ally and Marcus do. I know this from first hand experience.
by MikeG62
Fri May 22, 2020 9:08 am
Forum: Personal Investments
Topic: Strategy: %Cash in Portfolio
Replies: 17
Views: 1484

Re: Strategy: %Cash in Portfolio

...Is a 10% cash target reasonable? If it's uninvested cash I'd say no - too much idle cash. If it's invested (say in CD's), then it really represents the short end of your fixed income exposure and that would probably be fine. Depends on how the rest of your financial assets are invested. Nowadays...
by MikeG62
Fri May 22, 2020 8:48 am
Forum: Personal Investments
Topic: Strategy: %Cash in Portfolio
Replies: 17
Views: 1484

Re: Strategy: %Cash in Portfolio

...Is a 10% cash target reasonable? If it's uninvested cash I'd say no - too much idle cash. If it's invested (say in CD's), then it really represents the short end of your fixed income exposure and that would probably be fine. Depends on how the rest of your financial assets are invested. Nowadays...
by MikeG62
Fri May 22, 2020 8:35 am
Forum: Personal Investments
Topic: Strategy: %Cash in Portfolio
Replies: 17
Views: 1484

Re: Strategy: %Cash in Portfolio

bhwabeck3533 wrote:
Thu May 21, 2020 8:31 am

...Is a 10% cash target reasonable?
If it's uninvested cash I'd say no - too much idle cash. If it's invested (say in CD's), then it really represents the short end of your fixed income exposure and that would probably be fine. Depends on how the rest of your financial assets are invested.
by MikeG62
Wed May 20, 2020 6:14 pm
Forum: Investing - Theory, News & General
Topic: [High quality muni bonds for parking cash]
Replies: 14
Views: 552

Re: projected distribution yields

I understand why you gravitate toward distribution yield, but that does not mean it's all income and not partially a return of principal. It's simply the monthly cash flow. I'd submit that one reason it is hard to see the impact on a bond fund NAV is because market interest rates do not stay the sa...
by MikeG62
Wed May 20, 2020 5:00 pm
Forum: Investing - Theory, News & General
Topic: Where to park cash in Fidelity?
Replies: 62
Views: 6054

Re: Where to park cash in Fidelity?

Maybe I don't have as big of a stock pile of cash as some (by design), but there are exactly ZERO HYS or CD rates out there right now that are worth me lifting a finger to chase. I already feel dirty for having expended the time & energy to type this, 1.X% APY, just not worth the hassle of messing ...
by MikeG62
Wed May 20, 2020 2:39 pm
Forum: Investing - Theory, News & General
Topic: [High quality muni bonds for parking cash]
Replies: 14
Views: 552

Re: projected distribution yields

Edited to add - I see a 30-day SEC yield of only 1.53% as of May 18, 2020. For ETF ICSH... https://www.ishares.com/us/products/258806/ishares-liquidity-income-etf#/ Distribution Yield... 12 month Trailing Yield as of May 18, 2020 2.33% I don’t buy into using the distribution yield over the 30-day S...
by MikeG62
Wed May 20, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: [Fidelity- new rewards program for Wealth Management clients]
Replies: 21
Views: 2309

Re: [Fidelity- new rewards program for Wealth Management clients]

I could get 2.625 with a Merrill edge account with 100k balance and no Aim fee. Mm rate still bad, though. This is now my general purpose CC. Instead of holding the $100,000 in a MMF I hold it in a bond fund. Same bond fund where the $100,000 was invested before I opened the Merrill Edge account. S...
by MikeG62
Wed May 20, 2020 11:46 am
Forum: Investing - Theory, News & General
Topic: [High quality muni bonds for parking cash]
Replies: 14
Views: 552

Re: Best CD rates thread

Edited to add - I see a 30-day SEC yield of only 1.53% as of May 18, 2020. For ETF ICSH... https://www.ishares.com/us/products/258806/ishares-liquidity-income-etf#/ Distribution Yield... 12 month Trailing Yield as of May 18, 2020 2.33% I don’t buy into using the distribution yield over the 30-day S...
by MikeG62
Wed May 20, 2020 8:49 am
Forum: Personal Finance (Not Investing)
Topic: [Fidelity- new rewards program for Wealth Management clients]
Replies: 21
Views: 2309

Re: FIDELITY USES FINANCIAL STRENGTH AND SCALE TO DELIVER UNMATCHED VALUE WITH FIRST OF ITS KIND FIDELITY REWARDS+ SM PR

In the fine print, "To be eligible, customers must have a minimum $250,000 invested through Fidelity®Wealth Services, Fidelity®Strategic Disciplines, or a combination of both."

So only available to those who pay a fee to have their money managed by Fidelity. No thanks.
by MikeG62
Wed May 20, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: JPM Chase Reserve Card gets more expensive
Replies: 342
Views: 29239

Re: JPM Chase Reserve Card gets more expensive

I've been on the fence on whether or not to downgrade / cancel my Reserve card, but I found myself kept staring at the annual fee posted earlier this month with some annoyance, and the $100 adjustment did not make me feel better, with no travel plan in foreseeable future (my workplace currently ban...
by MikeG62
Wed May 20, 2020 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Best credit card for grocery rewards
Replies: 37
Views: 2803

Re: Best credit card for grocery rewards

Our household spends about $12k year on groceries. It's easy for us to max out the $6k limit on the 6% back Amex Blue Cash Preferred (nets about 4.2% back after subtracting $95 annual fee) and also whenever Chase and Discover do their Grocery 5% bonus quarters. Between the 1 amex, 2 Chase, and 2 Di...
by MikeG62
Wed May 20, 2020 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

...Perhaps another option is the ETF I used for temporary cash parking (although this time I haven't used it) - iShares Ultra Short-Term Bond ETF ICSH This is ultra-short bond fund - SEC yield 1.92%, Duration less than a year, Expense Ratio 0.08%. I began investing in ICSH in 2019. Probably had mid...
by MikeG62
Wed May 20, 2020 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

I believe Hudson in an earlier post pointed out The Federal Savings Bank 5 yr. 2.05% CD. They have an A+ financial rating at depositaccounts.com. I've been procrastinating and not purchasing anything for far too long. I have a large amount sitting in the Schwab Cash Account earning nothing. I'm une...
by MikeG62
Wed May 20, 2020 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

I believe Hudson in an earlier post pointed out The Federal Savings Bank 5 yr. 2.05% CD. They have an A+ financial rating at depositaccounts.com. I've been procrastinating and not purchasing anything for far too long. I have a large amount sitting in the Schwab Cash Account earning nothing. I'm une...
by MikeG62
Tue May 19, 2020 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Have the Chase Sapphire cards lost a lot utility (temporarily, due to COVID)?
Replies: 5
Views: 631

Re: Have the Chase Sapphire cards lost a lot utility (temporarily, due to COVID)?

Yes the Chase Sapphire Reserve has lost most of its utility for us due to the virus. If I thought we would never travel again then I'd cancel it before renewal. However, I believe we will travel again (a lot) and therefore I expect we will keep it and utilize the considerable UR points we've accumul...
by MikeG62
Tue May 19, 2020 9:35 am
Forum: Personal Finance (Not Investing)
Topic: How did you set up your trust distributions?
Replies: 39
Views: 2492

Re: How did you set up your trust distributions?

Hello all, My wife and I are setting up a trust. It would be funded with $5 million in assets comprising from retirement accounts, brokerage accounts, life insurance, home equity, etc. Just wondering how you guys set up beneficiary distributions in your estate plan? We have 1 daughter who would be ...
by MikeG62
Mon May 18, 2020 8:02 pm
Forum: Personal Investments
Topic: Holding cash the right choice?
Replies: 17
Views: 2413

Re: Holding cash the right choice?

It's a small tweak, but I'd prefer a no-penalty 11-month CD at 1.30% (currently available from Ally Bank) than a HY savings account at 1.30%. It's likely that top HY savings account rates will continue to fall toward the 1% ballpark, perhaps even lower, while the NP CD locks in the rate for 11 mont...
by MikeG62
Mon May 18, 2020 8:00 pm
Forum: Personal Investments
Topic: Moving from Treasuries to CDs
Replies: 19
Views: 1201

Re: Moving from Treasuries to CDs

CDs are fine if you want to invest the small amount of time and effort to place and maintain the deposits. When interest rates are low the difference of fractions of a percent seems more important than it really is. It does not solve the problem that savers are penalized when they have to accept th...
by MikeG62
Sun May 17, 2020 11:04 am
Forum: Personal Investments
Topic: Municipal bonds - concerns?
Replies: 31
Views: 2474

Re: Municipal bonds - concerns?

I agree that credit quality is key. i think one of the lessons of the last financial crisis was to treat ratings with some skepticism. While muni credit ratings themselves are not beyond reproach, the facts don't seem to support the view that the last financial crisis has taught us to treat them wi...
by MikeG62
Sun May 17, 2020 10:12 am
Forum: Personal Investments
Topic: Marcus or Ally
Replies: 137
Views: 14342

Re: Marcus or Ally

Marcus dropped their interest rate for 7 month No Penalty CD from 1.55% to 1.30%, which is now the same as their current basic savings interest rate. Lol. Only a week after they emailed customers to consider No Penalty CD as a substitute when they lowered the rate on their savings. I understand the...
by MikeG62
Sun May 17, 2020 10:07 am
Forum: Personal Investments
Topic: Municipal bonds - concerns?
Replies: 31
Views: 2474

Re: Municipal bonds - concerns?

Yes, I would be concerned. Exactly how concerned would depend on the credit rating and state. Very concerned. I have friends that held individual bonds in the financial crisis of 2007/8 and experienced defaults and bankruptcies. Your bonds are your "safe" money and credit quality is extremely impor...
by MikeG62
Sun May 17, 2020 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Should I go for online Will making software?
Replies: 14
Views: 1073

Re: Should I go for online Will making software?

I highly recommend that you use an attorney to do your will. It will likely not cost you too much and you will be assured of getting it right. You can also do DPOA and health care directives at same time to be sure you cover your bases. You can save some money by using will software but there is al...
by MikeG62
Sun May 17, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Cancel for any reason - travel insurance
Replies: 21
Views: 1245

Re: Cancel for any reason - travel insurance

We just booked an international flight a few days ago. I have considered purchasing a "cancel for any reason" trip insurance policy through John Hancock. We plan to take the trip but if it turns out we cannot go, it looks like as long as we cancel at least 48h prior to the start of the trip, we can...
by MikeG62
Sun May 17, 2020 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Fraudulent charges... Getting really tired of the number of times this happens and resulting hassle.
Replies: 56
Views: 4428

Re: Fraudulent charges... Getting really tired of the number of times this happens and resulting hassle.

...So is this just the sad state of affairs these days when trying to live your life with minimal cash transactions, and I just need to chalk it up to the cost of doing business (aka living in modern society)? Or does the frequency with which this happens to me/wife seem like a big outlier? If you'...
by MikeG62
Sat May 16, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

Keep in mind that for a joint account with two owners, whether or not there are beneficiaries, the maximum deposit insurance coverage is halved if one of the owners dies. However, both FDIC and NCUA provide a grace period of six months during which coverage is maintained as if the deceased owner we...
by MikeG62
Sat May 16, 2020 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Good Time to Buy New Car or Wait?
Replies: 38
Views: 3594

Re: Good Time to Buy New Car or Wait?

I’d be in the wait a bit camp. Don’t see low interest financing going away anytime soon and manufacturer discounts may well increase if once things open up cars continue to sit on dealer lots. Keep in mind, the inventory sitting on your local dealership is already booked revenue sold by the factory...
by MikeG62
Sat May 16, 2020 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Good Time to Buy New Car or Wait?
Replies: 38
Views: 3594

Re: Good Time to Buy New Car or Wait?

I’d be in the wait a bit camp. Don’t see low interest financing going away anytime soon and manufacturer discounts may well increase if once things open up cars continue to sit on dealer lots.
by MikeG62
Sat May 16, 2020 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Does Delaying Social Security Deliver an 8% Return?
Replies: 92
Views: 7427

Re: Does Delaying Social Security Deliver an 8% Return?

It seems like if this is really true, it would create a great arbitrage opportunity. Retiree turns 62--financial institution pays them each month what they would have gotten from SS, plus say 4%. Then if and when the retiree turns 70, they receive the higher SS payments and pay the financial instit...
by MikeG62
Sat May 16, 2020 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

Thanks @KevinM and @MikeG62 for all your helpful replies! I have one family member I can work with in terms of adding a joint owner or a beneficiary. I've played around with this insurance estimator , using the following data: Share account S1 with Fixed CD Share account S2 with Add-on CD Assuming ...
by MikeG62
Fri May 15, 2020 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Which carrier for Personal Liability Insurance do you recommend
Replies: 17
Views: 775

Re: Which carrier for Personal Liability Insurance do you recommend

Dear readers, I currently do not own any insurance. I would like to purchase a Personal Umbrella Liability Insurance. I do not mind getting a renter insurance if needed. I currently live in New Jersey. I am only reading bad reviews on carriers everywhere, therefore I am getting headaches. Which com...
by MikeG62
Thu May 14, 2020 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Rethinking chase sapphire during pandemic
Replies: 8
Views: 1150

Re: Rethinking chase sapphire during pandemic

...Are others here having similar thoughts? There have been several threads on this same topic over the last month or two. Use the search feature. You’ll see lots of people with similar thoughts and lots of debate around whether to cancel the card or not and what to do with UR points. FWIW, I have ...
by MikeG62
Thu May 14, 2020 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

Kevin M, My wife has one CD at PSECU with me as POD beneficiary. Does this automatically give $500,000 NCUA protection even in her ONE existing (ADD ON provision) CD? Could you please clarify? Thanks My understanding is that POD (or what PSECU calls tentative trust) accounts are insured up to $250,...
by MikeG62
Wed May 13, 2020 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

I had originally setup the add-on contributions ($25k) with about 6 months in mind, as that would bring me over the NCUA limit. But now with rates being so low everywhere, I wonder if it's worth the risk to continue contributing monthly (and thereby going over the insured amount ) just to take adva...
by MikeG62
Wed May 13, 2020 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 656
Views: 86612

Re: Best CD rates thread

Thanks @KevinM for the information about the CD rate history charts on DepositAccounts! For those who signed up for the PSECU CDs with monthly add-ons, do you have any plans on what to do if / when your total amount goes over the NCUA insured amount of $250,000, if not already ? I had originally se...
by MikeG62
Wed May 13, 2020 9:01 am
Forum: Personal Investments
Topic: FDIC insured consideration... Big deal, overblown, what? Any case studies or personal experiences?
Replies: 24
Views: 1843

Re: FDIC insured consideration... Big deal, overblown, what? Any case studies or personal experiences?

Since the failure of IndyMac in 2008, very few people with deposits in excess of the insurance limits at failed banks have lost any money. Source: https://www.americanbanker.com/opinion/will-fdic-keep-protecting-failed-banks-uninsured-deposits “ Since IndyMac, there have been 522 failures...Of the 5...
by MikeG62
Tue May 12, 2020 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America unauthorized ATM withdrawal
Replies: 47
Views: 2269

Re: Bank of America unauthorized ATM withdrawal

BofA does not charge a fee to a BofA customer. Some Bank of America accounts pay a $2.50 fee to use a non-BOA ATM. From their fee schedule: Non-Bank of America ATMs $2.50 within the U.S. Plus any fee charged by the ATM's operator. Preferred Rewards Platinum using a Bank of America debit or ATM card...