Search found 1734 matches

by MikeG62
Sat Jun 15, 2019 8:48 am
Forum: Personal Investments
Topic: Fidelity customer service
Replies: 15
Views: 1284

Re: Fidelity customer service

Had a really bad customer service experience at Fidelity last week (will spare you the details). I'm a private client customer and was expecting more. The "Supervisor" I escalated my issue to was unusually unprofessional (usually I find Fido's service quite good), and she would not let me talk to a...
by MikeG62
Sat Jun 15, 2019 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Checks without my account number
Replies: 39
Views: 3734

Re: Checks without my account number

Here's what's strange (to me). My bank hides my account number on my statements. And on the their website too. They show the last 3 digits only. Of course, I can see my full account number if I look at one of my checks, otherwise I have to call the bank and ask, "Hey, what's my account number?" Whe...
by MikeG62
Sat Jun 15, 2019 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Best option for a safe deposit box in Boston
Replies: 3
Views: 415

Re: Best option for a safe deposit box in Boston

Often times there is a waiting list to get a safe deposit box at a bank. So you may need to shop around. DW and I had one at our local BofA branch for a long time (like two decades). Several years ago, we bought a safe for our home and transferred the items there. We then cancelled the box at BofA. ...
by MikeG62
Sat Jun 15, 2019 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Do I need "Professional Trustee?"
Replies: 33
Views: 1767

Re: Do I need "Professional Trustee?"

To be honest, I'm more worried about it being taken by creditors in case of an accident (car crash, etc). Would having a professional trustee mitigate this issue? This is the issue the lawyer continues to stress as to why she will be a trustee. I am going to look into have a trust company act as a ...
by MikeG62
Thu Jun 13, 2019 8:33 am
Forum: Personal Investments
Topic: Interest rates on brokered CDs
Replies: 2
Views: 354

Re: Interest rates on brokered CDs

Although not entirely on point, last month I bought a 15-month select CD from Ally at 2.80% yield. The select CD's are offered from time to time - not always available for purchase.
by MikeG62
Wed Jun 12, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Which withdrawal plan or method?
Replies: 17
Views: 888

Re: What withdrawal plan or method?

This is easy to answer for me. First, I read all the stuff, the blogs, the studies, the opinions. Pretty much all of them state that a sustained withdrawal rate somewhere between 3% and 5% is gonna work for most people. I discovered that our withdrawal rate is about 0.5% to 1.0%, so I stopped worry...
by MikeG62
Wed Jun 12, 2019 8:15 am
Forum: Personal Investments
Topic: Asset allocation for those in their late fifties
Replies: 32
Views: 2976

Re: Asset allocation for those in their late fifties

I am 56 and DW is 54. In our 4th year of retirement. Our actual asset allocation is 41% equities, 51% fixed income and the rest is cash. I view the cash largely as an addition to the short-end of our fixed income exposure (it's in accounts earning ~2.50%). Our US and foreign split on equities is 85%...
by MikeG62
Tue Jun 11, 2019 2:10 pm
Forum: Personal Consumer Issues
Topic: Tips for new pet owner [puppy]
Replies: 71
Views: 3636

Re: Tips for new pet owner

Two time dog owner - covering period of 23 years. Expect pretty much every time you bring your dog to the vet it will cost you $200+. Then there is the dog groomer. Ours ran $80 every four weeks. We bought natural (organic) grain free dog food and snacks. A $25lb bag of dry food was over $50. Add in...
by MikeG62
Tue Jun 11, 2019 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 7892

Re: Do you carry Umbrella Insurance?

To be fair, if a Boglehead has a large net worth , he or she has a somewhat higher risk of being hit with a judgment in excess of primary insurance limits than the average broke Joe for a number of reasons that are complex and would require more time than I have right now to explain. At the end of ...
by MikeG62
Mon Jun 10, 2019 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 289
Views: 34872

Re: Do you have an umbrella policy?

Does anyone on this thread know if UNvested RSUs are a potential target that needs protection with an umbrella policy? Or does one insure only up to the exposure of assets "in hand" ? IANAL, but I think the answer depends on the laws of the state in which you live. Having said that, I found this ar...
by MikeG62
Mon Jun 10, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 7892

Re: Do you carry Umbrella Insurance?

I’ve posted this before, but will repeat it here. Aunt of my brother-in-law (retired college professor, married with one grown adult son) was killed in an automobile accident about 7-8 years ago. The family sued the driver of the SUV who hit them. Case was settled for $5M ($4M to the now widowed hus...
by MikeG62
Mon Jun 10, 2019 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Credit Card - Signup Bonus Period
Replies: 7
Views: 1035

Re: Fidelity Credit Card - Signup Bonus Period

It’s my general purpose credit card. I’ve had the card for years and never received an offer code. :( Why would they offer you a bonus to use a card that you are clearly already using? Don’t know, but other people responding are getting a bonus for this card they also claim to be using? After all, ...
by MikeG62
Sun Jun 09, 2019 10:06 am
Forum: Personal Investments
Topic: UBS claiming access to 'special'/limited investment funds - BIL
Replies: 10
Views: 794

Re: UBS claiming access to 'special'/limited investment funds - BIL

Hi, everyone..UBS (who BIL has been with for 25+ years) is claiming that they can provide access to "special" investment funds that only high net worth individuals can purchase. They're further claiming that they are able to only do this for high NW people because the minimum investment costs are s...
by MikeG62
Sun Jun 09, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Credit Card - Signup Bonus Period
Replies: 7
Views: 1035

Re: Fidelity Credit Card - Signup Bonus Period

It’s my general purpose credit card. I’ve had the card for years and never received an offer code. :(
by MikeG62
Sun Jun 09, 2019 5:34 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 7892

Re: Do you carry Umbrella Insurance?

The most valuable things in my apartment are my passport, social security card, birth certificate (ie my identity). Insurance is not going to help if someone steals my identity . This is not necessarily true. Some umbrella policies will cover costs incurred to deal with Identity theft. There are al...
by MikeG62
Sat Jun 08, 2019 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 7892

Re: Do you carry Umbrella Insurance?

I'll typically ask my agent from time to time about claims / loss activity that he is aware of. Some of his policy holders have had claims in excess of their primary auto limits. Having a "claim" in excess of your primary limits and having to actually *pay* more than your primary limits are not the...
by MikeG62
Sat Jun 08, 2019 10:48 am
Forum: Investing - Theory, News & General
Topic: Check my reasoning: prepaying mortgage makes *more* sense if you don't plan to stay long
Replies: 8
Views: 995

Re: Check my reasoning: prepaying mortgage makes *more* sense if you don't plan to stay long

There could be some risk that with more equity in your current house you are at the margin more apt to make a larger price concession when selling or to buy a more expensive replacement home. True story A neighbor of ours sold his house earlier this year. Buyer was grousing about his almost 20 year ...
by MikeG62
Sat Jun 08, 2019 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 7892

Re: Do you carry Umbrella Insurance?

Currently zero. The majority of my assets are in retirement accounts, so they're afforded some amount of protection. I don't own a home either. When I buy a home and/or once I have significant assets outside my retirement accounts I'll look into buying a policy. You are exposed beyond the level of ...
by MikeG62
Sat Jun 08, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 7892

Re: Do you carry Umbrella Insurance?

We carry $5 million in Umbrella coverage. I choose $5 million as the most reasonably affordable coverage we could get (annual premium of ~$1,000). I did look into getting $10 million once and the quote came back in excess of $3,000 per year. So I kept our coverage at $5 million. Coverage amount is r...
by MikeG62
Fri Jun 07, 2019 8:18 am
Forum: Personal Finance (Not Investing)
Topic: how to deal with people who are not living boglehead way of life
Replies: 45
Views: 2718

Re: how to deal with people who are not living boglehead way of life

At the end of the day, it's people's lives to do with what they choose. This is fine, but then they shouldn't as the OP says "...they always asking for financial help (especially family members, sometimes they don't ask, they demand)". OP, next time they come asking (demanding) money, advice is the...
by MikeG62
Fri Jun 07, 2019 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Which of these Online Savings Accounts (high-yield) are reliable?
Replies: 45
Views: 5666

Re: Which of these Online Savings Accounts (high-yield) are reliable?

Great post. To clarify: has Ally maintained consistently high APY throughout the years for those who dealt with them for some time? Been an Ally customer for over a decade. I'd say their online savings rates are consistently not the "highest", but they are consistently competitive. Last week I open...
by MikeG62
Thu Jun 06, 2019 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 729
Views: 76745

Re: Fidelity Cash Management Account - Anyone Use it?

As a general rule, money is available faster if it is pushed. If it is pulled, the receiver must verify the funds are legit before making them available. This is a good point and worth considering when one has the option of either pushing or pulling. Confirm if your bank has a fee. Fidelity has no ...
by MikeG62
Thu Jun 06, 2019 8:02 am
Forum: Personal Finance (Not Investing)
Topic: 1st Tax Audit in 22 years!
Replies: 27
Views: 3328

Re: 1st Tax Audit in 22 years!

About nine years ago, we got a request for additional information concerning a college tuition deduction. We had sent the IRS a statement which showed how much college tuition we were charged for a tax year, but that wasn't good enough for the IRS. After multiple discussions with IRS agents and a t...
by MikeG62
Thu Jun 06, 2019 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 729
Views: 76745

Re: Fidelity Cash Management Account - Anyone Use it?

mhalley wrote:
Tue Jun 04, 2019 1:20 pm
As a general rule, money is available faster if it is pushed. If it is pulled, the receiver must verify the funds are legit before making them available.
This is a good point and worth considering when one has the option of either pushing or pulling.
by MikeG62
Wed Jun 05, 2019 4:48 pm
Forum: Personal Investments
Topic: Talk me out of trading muni bond funds
Replies: 20
Views: 1648

Re: VWIUX SEC YIELD AND DISTRIBUTION YIELD

This is what happens when I have free time. I start looking at my portfolio and wonder if I should..... Anyway, I have substantial long term gains in Vanguard Limited and Intermediate term muni funds due to plunge in interest rates. Should I continue to hold and forget or accept the gains and move ...
by MikeG62
Wed Jun 05, 2019 9:00 am
Forum: Investing - Theory, News & General
Topic: Convince me to sell ESPP / Company Stock
Replies: 22
Views: 1122

Re: Convince me to sell ESPP / Company Stock

I know the standard practice. Sell ESPP / company stock. You don't want your employment to be too correlated to your investment. What if you are working for a megacorp that you believe really has a long term future? Is it ok to hold on to company stock? I think so and wrote my views on it in this t...
by MikeG62
Wed Jun 05, 2019 8:47 am
Forum: Personal Investments
Topic: Talk me out of trading muni bond funds
Replies: 20
Views: 1648

Re: Talk me out of trading muni bond funds

This is what happens when I have free time. I start looking at my portfolio and wonder if I should..... Anyway, I have substantial long term gains in Vanguard Limited and Intermediate term muni funds due to plunge in interest rates. Should I continue to hold and forget or accept the gains and move ...
by MikeG62
Wed Jun 05, 2019 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Is it Wise to Remove Escrow if Bank Allows it?
Replies: 87
Views: 5309

Re: Is it Wise to Remove Escrow if Bank Allows it?

What do bogleheads do concerning escrow? Do you get rid of it as soon as your able to allow greater flexibility? Or do you keep it as its two less bills to keep track of (RE taxes & Home Ins.)? Get rid of it . It is not uncommon for lenders to make mistakes with the payments and not pay the bills o...
by MikeG62
Tue Jun 04, 2019 8:33 am
Forum: Investing - Theory, News & General
Topic: Downsides of VPW?
Replies: 101
Views: 6741

Re: Downsides of VPW?

Starting to think hard about stepping back from the job, and starting to withdraw from our retirement accounts. My wife and I are 56. VPW approach looks very interesting to me. Seems that biggest downside will be likely variability in withdrawals year to year based on portfolio fluctuations. I feel...
by MikeG62
Tue Jun 04, 2019 8:28 am
Forum: Investing - Theory, News & General
Topic: Downsides of VPW?
Replies: 101
Views: 6741

Re: Downsides of VPW?

Starting to think hard about stepping back from the job, and starting to withdraw from our retirement accounts. My wife and I are 56. VPW approach looks very interesting to me. Seems that biggest downside will be likely variability in withdrawals year to year based on portfolio fluctuations. I feel...
by MikeG62
Tue Jun 04, 2019 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Chase Credit Card - Binding arbitration opt-out?
Replies: 31
Views: 2513

Re: Chase Credit Card - Binding arbitration opt-out?

This is not something I would get worked up about. I really cannot imagine a situation where I would be so harmed by a CC issuer that I would want to sue them or need to be part of a class action suit. Every single time I have had an issue with a charge (which is not often) they always have resolved...
by MikeG62
Tue Jun 04, 2019 8:01 am
Forum: Investing - Theory, News & General
Topic: Downsides of VPW?
Replies: 101
Views: 6741

Re: Downsides of VPW?

Starting to think hard about stepping back from the job, and starting to withdraw from our retirement accounts. My wife and I are 56. VPW approach looks very interesting to me. Seems that biggest downside will be likely variability in withdrawals year to year based on portfolio fluctuations. I feel...
by MikeG62
Tue Jun 04, 2019 7:51 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3815
Views: 702125

Re: What's Your Credit Card Rewards Strategy?

...By my calculations, if I apply for a new card every 3 months, it'll be something like 8 years before I run out of worthwhile bonuses and need to settle for lowly 5% bonuses. And by then I'm sure there will be more cards for me to churn. This was possible 10+ years ago. However, many of the banks...
by MikeG62
Mon Jun 03, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3815
Views: 702125

Re: What's Your Credit Card Rewards Strategy?

Just got back from a family vacation - stayed in a VRBO house rental. When we were at the supermarket and ready to pay, my wife looked at me and said, "I brought the food card as I knew we'd be buying things at the grocery store" (food card is our Amex Preferred Cash card - 6% CB at the grocery stor...
by MikeG62
Mon Jun 03, 2019 9:04 am
Forum: Personal Finance (Not Investing)
Topic: What personal finance metrics do you track?
Replies: 44
Views: 3341

Re: What personal finance metrics do you track?

DW and I are retired. The biggest thing we track is our spending, which we do in a fair amount of detail (roughly 25 line items) on a monthly as well as YTD basis (actuals and delta budget). At the end of the year I prepare various visual summaries of our spending (pie charts, bar/line graphs, etc.....
by MikeG62
Mon Jun 03, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Credit Limitation Explained
Replies: 12
Views: 890

Re: Foreign Tax Credit Limitation Explained

DW and I are retired and our FTC in 2018 was only 21% of our foreign tax paid. :annoyed

Note that our foreign tax paid was >$600 so we have to grind through form 1116.
by MikeG62
Mon Jun 03, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Invited to vacation house then surprised with expenses—what now?
Replies: 64
Views: 3672

Re: Invited to vacation house then surprised with expenses—what now?

What does your spouse say? They're his / her parents. If (s)he wants to do it to keep peace in the family, then do it. If not, then don't. Either way, you know what to expect from the next invitation. +1. If you both feel it's inappropriate of them to ask or expect everyone to kick in for (share) t...
by MikeG62
Sun Jun 02, 2019 5:48 am
Forum: Personal Finance (Not Investing)
Topic: How does a mortgage banker make money?
Replies: 14
Views: 1650

Re: How does a mortgage banker make money?

For 1-2%, I’ll call 50 banks myself and get a deal. I have never used a mortgage broker - never saw any need to put a middleman between me and the banks. Especially these days (with the information available online) it seems to me there should be little need for anyone to use one save for unusual c...
by MikeG62
Sun Jun 02, 2019 5:42 am
Forum: Personal Finance (Not Investing)
Topic: How long have you been unemployed?
Replies: 97
Views: 10858

Re: How long have you been unemployed?

From the time I began full time employment in 1984 until I retired in early 2016 I was never unemployed. I changed jobs once. Last day on first job was a Friday and first day on new job was the following Monday. Since retiring, I have not worked a single day and have no plans or desire to ever work ...
by MikeG62
Sat Jun 01, 2019 7:59 am
Forum: Personal Investments
Topic: Just Got a Call From Fidelity
Replies: 55
Views: 7640

Re: Just Got a Call From Fidelity

Just got a voicemail from a Fidelity rep thanking me for my business (opened accounts there in January and all new money is going to Fido index funds). He says he's an "advisor" and just wants to make sure everything's going okay. Is this a pure sales call? Loving Fido and am inclined to just call ...
by MikeG62
Sat Jun 01, 2019 7:02 am
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 350
Views: 33546

Re: For those who earn $500k+ per year. How'd you do that?

How exactly does one work a 100 hr week on a regular basis?.. How much time per day is the commute, getting ready for work, eating, going to bathroom per day? No kids/time with kids? Take a dog for a walk? Any exercise time? Edit: forgot sleeping... This may be considered a financial success, but i...
by MikeG62
Fri May 31, 2019 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 350
Views: 33546

Re: For those who earn $500k+ per year. How'd you do that?

...Yes we could probably both walk now, but my spouse has some unfinished business in their career so to speak. They want to see what the next move up brings. As far as the long hours and extensive travel, we're on the back 9 in that regards (hopefully on the 18th green tbh). The company has been e...
by MikeG62
Fri May 31, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 350
Views: 33546

Re: For those who earn $500k+ per year. How'd you do that?

Sometimes I dream of chasing the big bucks There's a mountain of evidence that earning more money beyond having your needs comfortably covered (think $60k to $100k range for a family of 4 in most areas of the US) doesn't make people happier. I feel those studies are completely bogus. They are churn...
by MikeG62
Fri May 31, 2019 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 350
Views: 33546

Re: For those who earn $500k+ per year. How'd you do that?

The money is awesome and has allowed us to become FI pretty early on in life, but we both still work. Nothing about it has been glamorous outside of what money brings. In our early 30's...Spouse works 60 hours a week, 7 days a week, including while on vacations, and that would be considered a prett...
by MikeG62
Fri May 31, 2019 7:29 am
Forum: Personal Investments
Topic: Buying treasuries other than ultra short term?
Replies: 45
Views: 2963

Re: Buying treasuries other than ultra short term?

Reinvestment risk. That means the risk that when the term is up and you reinvest interest rates will have dropped across the yield curve. ^This. Having said that, I personally am not buying Treasuries with a duration beyond 26 weeks - actually I've not bought any treasuries with maturities beyond 8...
by MikeG62
Fri May 31, 2019 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Older retirees: Are your expenses lower now than in early retirement?
Replies: 49
Views: 6200

Re: Older retirees: Do you have lower expenses now than you did in early retirement?

In my 20 plus years in retirement (now age 85 and climbing.) I found that our "personal inflation" was less than the CPI, less because our expense categories do not follow the CPI categories. We live off of savings and SS only (no pension payments as I took that pension as a lump sum.). Here is our...
by MikeG62
Fri May 31, 2019 6:30 am
Forum: Personal Finance (Not Investing)
Topic: Auto insurance - how much "medical expense benefits"?
Replies: 13
Views: 943

Re: Auto insurance - how much "medical expense benefits"?

There was this thread recently on a similar topic: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=281556&p=4555370#p4555370 May depend on the state in which you live. In NJ PIP covers more than just medical costs. It's also very inexpensive. Wonder if any savings from reducing the coverage lim...
by MikeG62
Thu May 30, 2019 7:31 am
Forum: Personal Investments
Topic: Ally CD vs Vanguard Ultra Short Term Bond Fund both in taxable account
Replies: 13
Views: 1368

Re: Ally CD vs Vanguard Ultra Short Term Bond Fund both in taxable account

You might consider the Ally Select 15-Month CD paying 2.80% APY with no minimum deposit. The only way you can see this offer on the Ally website is by starting the process of opening a CD. Ken Tumin believes the 2.80% rate will only last until the end of this month, so you'd probably want to open t...
by MikeG62
Thu May 30, 2019 6:34 am
Forum: Personal Finance (Not Investing)
Topic: Naming beneficiaries for non-retirement accounts
Replies: 15
Views: 1234

Re: Naming beneficiaries for non-retirement accounts

IANAL, but possible reasons that immediately come to mind as to why it might be unwise to name beneficiaries on the account would be if any of the beneficiaries are spendthrifts and/or to potentially protect the inheritance from a divorcing spouse or creditors of the beneficiary(ies). One way to avo...
by MikeG62
Wed May 29, 2019 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Fun paid jobs after FIRE
Replies: 171
Views: 14825

Re: Fun paid jobs after FIRE

sport wrote:
Wed May 29, 2019 11:15 am
I'm retired. Work is a "four letter word".
+1