Search found 1039 matches

by MikeG62
Tue Sep 18, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2757
Views: 555228

Re: What's Your Credit Card Rewards Strategy?

Just an FYI, my adult daughter attempted to open an Uber VISA card two weeks ago. She received a letter in the mail yesterday informing her that her application was denied. She called the number on the letter and was told that they would reopen her application if she sent a copy of (1) her Drivers ...
by MikeG62
Tue Sep 18, 2018 10:20 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2757
Views: 555228

Re: What's Your Credit Card Rewards Strategy?

Just an FYI, my adult daughter attempted to open an Uber VISA card two weeks ago. She received a letter in the mail yesterday informing her that her application was denied. She called the number on the letter and was told that they would reopen her application if she sent a copy of (1) her Drivers L...
by MikeG62
Tue Sep 18, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 2469

Re: Bank of America credit card “feature” (be careful with autopay)

There is another internet forum that focuses on credit cards and credit scores in which many of the members use autopay. Nearly every week someone posts about a problem involving an unintended credit card overpayment because the cardholder did a manual payment even though they had set up autopay. S...
by MikeG62
Tue Sep 18, 2018 7:18 am
Forum: Investing - Theory, News & General
Topic: Is there such thing as saving TOO much?
Replies: 78
Views: 6534

Re: Is there such thing as saving TOO much?

...I am curious as to if there is such thing as saving TOO much... I think it is possible if say one were to be severely and unnecessarily depriving themselves (overly constricting ones lifestyle) - living like a miser - while working the sole goal of which was saving for savings sake. Remember, we...
by MikeG62
Tue Sep 18, 2018 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Dark Web Article
Replies: 28
Views: 3607

Re: Dark Web Article

I still have trouble accepting that number 3 is the best way to go. Makes me nervous to have all of my passwords "out there" - and in one place, even if in encrypted form. I am open to being convinced, though. :wink: Not sure how convincing this is going to be, but here's my view. I have been using...
by MikeG62
Mon Sep 17, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Cheap Flights
Replies: 23
Views: 2166

Re: Cheap Flights

Also look on google flights for availability/price. +1 on Google flights. https://www.google.com/flights?lite=0#flt=ATL..2018-10-03*.ATL.2018-10-07;c:USD;e:1;sd:1;t:h But I don't think Southwest will show up there so you may need to look at them separately. If you dates are flexible be sure to clic...
by MikeG62
Mon Sep 17, 2018 8:13 am
Forum: Investing - Theory, News & General
Topic: Equity allocation for Flagship clients?
Replies: 38
Views: 2907

Re: Equity allocation for Flagship clients?

As often quoted on Bogleheads, asset allocation is (should be) determined by your willingness, need, and ability to take risk. When an investor has substantial assets, their ability to take risk increases. However, their need to take risk decreases. So, it comes down to willingness, which is a pers...
by MikeG62
Mon Sep 17, 2018 7:58 am
Forum: Investing - Help with Personal Investments
Topic: Does cash at Ally count in my asset allocation?
Replies: 22
Views: 1835

Re: Does cash at Ally count in my asset allocation?

It's up to you how to count it. What is the purpose of keeping the cash? Is it part of your investments or is it for something else? Agree with this. If it's excess cash in your checking account, I would not count it. If it's cash in their online savings (or a CD) I would - assuming I viewed it as ...
by MikeG62
Mon Sep 17, 2018 7:52 am
Forum: Investing - Help with Personal Investments
Topic: Laddered CDs
Replies: 28
Views: 2749

Re: Laddered CDs

Kevin M wrote:
Wed Sep 12, 2018 7:22 pm

...If you buy at auction, you'll get the large quantity yield--i.e., the same yield as institutional investors buying millions of dollars of the same Treasury you're buying, so patiently building your ladder buying at auction could make sense.

Kevin
^ Precisely what I am doing.
by MikeG62
Sat Sep 15, 2018 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Documentation for IRS
Replies: 7
Views: 463

Re: Documentation for IRS

I received a notice from the IRS today saying I owe $21K in taxes, interest, and penalties for not reporting $47K of "income" on my 2016 return. They claim the income came from taxable retirement account distributions. This is most likely a clerical error, as this was a direct rollover of a traditi...
by MikeG62
Sat Sep 15, 2018 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: CP2000 - rollover Vanguard IRA to TSP
Replies: 11
Views: 696

Re: CP2000 - rollover Vanguard IRA to TSP

The 1040 Inst. clearly state that you should include an explanatory statement with your return when you roll over IRA money into a qualified plan. This is necessary because the IRS matching program for 1099R and 5498 forms will not work because a qualified plan (TSP) will NOT issue a 5498, so the I...
by MikeG62
Sat Sep 15, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: CP2000 - rollover Vanguard IRA to TSP
Replies: 11
Views: 696

Re: CP2000 - rollover Vanguard IRA to TSP

...Thank you for any assistance, this has really stumped me. Am I missing something? Was my first explanation that bad? Do I somehow actually owe taxes? You may get a more well informed response if you can tell us exactly what they said in their response to you. Also, there should be an option to c...
by MikeG62
Sat Sep 15, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: How to retire
Replies: 9
Views: 1739

Re: How to retire

That works well if no children or grandchildren involved in the decision. That is the main reason people age in place instead of moving. I always wonder if regret doesn't enter into that decision later. Agree with this. No way my DW is going to relocate too far from our two adult daughters (both of...
by MikeG62
Sat Sep 15, 2018 7:07 am
Forum: Personal Finance (Not Investing)
Topic: When to Retire
Replies: 48
Views: 6604

Re: When to Retire

As I approach 60 yrs., I am thinking about my exit to retirement strategy. I've heard all sorts of ideas including that you have to have 5 hobbies so you won't be bored in retirement. While I still like what I do, I don't want to work until I die. My question is: How did you decide to retire? Was i...
by MikeG62
Sat Sep 15, 2018 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 68
Views: 4706

Re: Leasing Cars in Retirement

Your thread is timely! We are in the market for a new car soon and I hadn't given a thought about leasing until this thread. We have been in the habit of keeping cars 10+ years (it's 20 for our commute car we now drive very little). One of the reasons for that is I just detest buying cars. :oops: I...
by MikeG62
Fri Sep 14, 2018 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: What can you homegrown financial management spreadsheet do?
Replies: 21
Views: 1209

Re: What can you homegrown financial management spreadsheet do?

I maintain a two multi-tabbed Excel spreadsheet. One file contains several tabs. The first is an electronic checkbook register (created by me which replaces our paper checkbook register). Much better than a paper register as I can search for any entry quickly and efficiently and can also reconcile m...
by MikeG62
Fri Sep 14, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 68
Views: 4706

Re: Leasing Cars in Retirement

Wanted to get others thoughts on leasing cars in retirement in lieu of triggering an additional taxable event by spending down investments. Thinking $350 or so monthly for three years within mileage allowances, wash and repeat. Pluses are covered maintenance and investments continue to grow. Please...
by MikeG62
Thu Sep 13, 2018 1:51 pm
Forum: Investing - Theory, News & General
Topic: Argument for taking social security before 70. Comments?
Replies: 111
Views: 7226

Re: Argument for taking social security before 70. Comments?

...Anyway I will not take SS any earlier than 70 unless my health goes south before that. As PJW's excellent post above outlined, you must first identify your goal. My goal is not to maximize my take from SS on average across all scenarios. It's to have a relatively big payout in scenario's where I...
by MikeG62
Thu Sep 13, 2018 7:16 am
Forum: Investing - Help with Personal Investments
Topic: Unwinding long term investments
Replies: 6
Views: 868

Re: Unwinding long term investments

...I am sure some of you guys have these or other active funds and in a similar situation. How do you guys handle this? Any other considerations? It is a tough one - and a good example for those reading this thread and investing in their taxable accounts as to why they should carefully consider the...
by MikeG62
Thu Sep 13, 2018 6:50 am
Forum: Personal Finance (Not Investing)
Topic: 4% 60 month at Fahey Bank - nationwide BUT heavy EWP
Replies: 6
Views: 998

Re: 4% 60 month at Fahey Bank - nationwide BUT heavy EWP

Currently the highest 60 month CD -- available nationwide WITH a checking account relationship. But ALL interest is forfeited if early withdrawal. https://www.depositaccounts.com/banks/the-fahey-banking-company/offers/ I would pass on this due to the 100% forfeiture of interest in the event of earl...
by MikeG62
Thu Sep 13, 2018 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Credit card advice
Replies: 22
Views: 1341

Re: Credit card advice

In my quest to simplify, I'd like to close a credit card that I never use. It does have an annual fee, so if it weren't for that, I'd just let it ride. My first thought was that closing the card will hit my credit score, which I guess is fine, as I have excellent credit. I'd like to think it will b...
by MikeG62
Wed Sep 12, 2018 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes in retirement too good to be true?
Replies: 23
Views: 4321

Re: Taxes in retirement too good to be true?

mrspock wrote:
Wed Sep 12, 2018 7:18 pm
bradpevans wrote:
Wed Sep 12, 2018 11:27 am
you might use the Roth to "fill up" certain tax brackets to your advantage in certain years.
What do you mean by this?
OP, read this...

https://www.kitces.com/blog/using-syste ... t-buckets/
by MikeG62
Wed Sep 12, 2018 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: Laddered CDs
Replies: 28
Views: 2749

Re: Laddered CDs

I need to move some funds out of a low interest (to no interest) SAVINGS account to my Fidelity account and was considering going to Laddered CDs. Does anyone have any thoughts on this? Appreciate any/all feedback. Thanks in advance..... BW Laddering Treasuries would also be an option. How long are...
by MikeG62
Wed Sep 12, 2018 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Taxes in retirement too good to be true?
Replies: 23
Views: 4321

Re: Taxes in retirement too good to be true?

Do you really have no tax deferred retirement savings (no old 401k or IRA). Hard to believe this could be true. I do have a small amount in a 401k + Roth 401k/Roth IRA, around $200k/$100k, I didn't include this in my tax calculations as I won't take money from my 401k until I'm required to do so (R...
by MikeG62
Wed Sep 12, 2018 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Taxes in retirement too good to be true?
Replies: 23
Views: 4321

Re: Taxes in retirement too good to be true?

OP, I would say it is not too good to be true. Most of your income is coming from low/no tax sources. This is the advantage of having a sizable amount of assets in taxable accounts (which I advocate as highly advisable if one plans to retire early). Do you really have no tax deferred retirement savi...
by MikeG62
Tue Sep 11, 2018 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Lump Sum Roth Conversion vs. tax-bracketed
Replies: 13
Views: 1000

Re: Lump Sum Roth Conversion vs. tax-bracketed

...I am in the process of doing Roth conversions over a 7 year stretch to 70.5 years old and convert early in the year with an amount I feel is close to the bracket max but erring on the low side . So far so good. I was actually interested in hearing from lump sum converters, who paid higher taxes ...
by MikeG62
Tue Sep 11, 2018 8:06 am
Forum: Investing - Theory, News & General
Topic: Northwest FCU 3-year 3.04% Add-On CD
Replies: 354
Views: 37250

Re: Northwest FCU 3-year 3.04% Add-On CD

Time to resurrect this thread as our certificates are coming to mature! Has anyone received maturity notice yet? What's the default? How are you giving your instructions whether to roll or not roll? If not rolling, how are you transferring the money out? Any limit on ACH push from NWFCU to linked e...
by MikeG62
Tue Sep 11, 2018 7:52 am
Forum: Investing - Theory, News & General
Topic: A Boglehead explains the simplest way to manage your money
Replies: 18
Views: 5073

Re: A Boglehead explains the simplest way to manage your money

Taylor is a true voice of reason when it comes to investing. It is impossible to argue with his half-century of investing experience. We are lucky to have him as a contributing member of our forums.
by MikeG62
Tue Sep 11, 2018 7:47 am
Forum: Investing - Theory, News & General
Topic: Moved to 100% FDIC Insured Cash today (college money needed in 3 years)
Replies: 26
Views: 2189

Re: Moved to 100% FDIC Insured Cash today (college money needed in 3 years)

Moved college account money needed in another three years into FDIC Insured cash today. Previously was in 60/40 equity/ bond allocation, and about time to reduce all equity and bond risk with money needed in just over a couple of years. This money is in 529 plan, so moving to CD and/or other altern...
by MikeG62
Tue Sep 11, 2018 7:04 am
Forum: Investing - Help with Personal Investments
Topic: Lump Sum Roth Conversion vs. tax-bracketed
Replies: 13
Views: 1000

Re: Lump Sum Roth Conversion vs. tax-bracketed

For those who have converted funds to a Roth IRA, did you convert a large amount at one time or stagger to keep current-year taxes in a particular bracket? And did you make your decision by comparing the results of various approaches in a calculator? I am converting amounts each year sufficient to ...
by MikeG62
Mon Sep 10, 2018 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Taking on project work after retirement?
Replies: 11
Views: 1086

Re: Taking on project work after retirement?

...There's only a downside if it keeps you from doing the things you would like to do in retirement. So far it's not a problem for me. I early retired nearly three years ago. I executed a consulting agreement upon retirement where I agreed to do some consultancy work for my former employer (at a ve...
by MikeG62
Mon Sep 10, 2018 8:09 am
Forum: Investing - Theory, News & General
Topic: NASA FCU- 15 month CD 3.25%
Replies: 31
Views: 4286

Re: NASA FCU- 15 month CD 3.25%

Is it easy to manage CDs there? For example, easy to get money out when the CD matures? Typically the process for a taxable account requires calling the CU to tell them not to roll the CD over, setting up ACH from a good hub bank, like Ally, then transferring the money out the day it matures. I was...
by MikeG62
Sun Sep 09, 2018 10:49 am
Forum: Investing - Help with Personal Investments
Topic: CD Break and Reinvest Options Perspectives
Replies: 18
Views: 1295

Re: CD Break and Reinvest Options Perspectives

Bogleheads, I have an existing 5 year CD with 36 months remaining yielding 2.28% APY which I'm considering breaking. Following are the options I presently have on the table: 1.) Existing bank which holds the 5 year CD will reduce my early withdrawal penalty from 6 to 3 months if I keep the funds wi...
by MikeG62
Sun Sep 09, 2018 10:42 am
Forum: Investing - Theory, News & General
Topic: Hold cash in Treasury Bills or in Money Market Fund?
Replies: 36
Views: 4540

Re: Hold cash in Treasury Bills or in Money Market Fund?

Thanks for the thoughtful advice, from you and a number of other posters, both above and below this post! Could your or someone give a sort of "buying treasuries and constructing a short term bond-ladder through Fidelity or Treasury-Direct for Dummies"? The issue of what the various bills are calle...
by MikeG62
Sun Sep 09, 2018 8:13 am
Forum: Personal Finance (Not Investing)
Topic: How much do bogleheads save in 529?
Replies: 79
Views: 4436

Re: How much do bogleheads save in 529?

So that leads me to wonder how much one should invest in a 529 every month. Since the 529 is inflexible with non education withdrawals do you worry about overfunding? How much do most bogleheads deposit per month? DW and I saved nearly 100% of the college costs for our two daughters in a 529 accoun...
by MikeG62
Sat Sep 08, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on buying a pre-owned Mercedes Benz cash?
Replies: 44
Views: 3574

Re: Thoughts on buying a pre-owned Mercedes Benz cash?

= Can you share your thoughts on anything I should take into account regarding “luxury/pre-owned/Mercedes/buying cash/etc”??? OP, I have owned Mercedes AMG (and non-AMG) as well as BMW (Land Rover, Lexus, Audi, among other brands). I would say it is highly likely with an AMG or BMW that you are put...
by MikeG62
Sat Sep 08, 2018 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 130
Views: 7437

Re: Should I keep my financial advisor

Can you do it yourself? yes, it is very easy. Truthfully this website overcomplicates everything by 100x. You could pick a simple target date fund and get it 99% right. I agree that it is fairly easy. A target date fund is a reasonable option in a tax deferred (or tax free) account. Not sure I woul...
by MikeG62
Sat Sep 08, 2018 7:11 am
Forum: Investing - Theory, News & General
Topic: Hold cash in Treasury Bills or in Money Market Fund?
Replies: 36
Views: 4540

Re: Hold cash in Treasury Bills or in Money Market Fund?

Thanks for the thoughtful advice, from you and a number of other posters, both above and below this post! Could your or someone give a sort of "buying treasuries and constructing a short term bond-ladder through Fidelity or Treasury-Direct for Dummies"? The issue of what the various bills are calle...
by MikeG62
Fri Sep 07, 2018 5:02 pm
Forum: Investing - Theory, News & General
Topic: Hold cash in Treasury Bills or in Money Market Fund?
Replies: 36
Views: 4540

Re: Hold cash in Treasury Bills or in Money Market Fund?

I want to hold about 10% of my retirement portfolio in a form that is close to cash. Which of the following is preferable (and why)? 1. Treasury Bills of 1 month, 3 months, or maybe 6 months? 2. The Fidelity Money Market fund FNSXX with a 7 Day Yield of 2.12% net of expenses (usually a $10,000,000 ...
by MikeG62
Thu Sep 06, 2018 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 130
Views: 7437

Re: Should I keep my financial advisor

Hello all, I'm a long time lurker but first time poster. I'm 33yrs old, married, no kids yet but planning to have one soon. I currently have a fee only financial advisor that manages my investment and other aspects of personal finance. They charge flat retainer fee of 5k per year, soon to go up to ...
by MikeG62
Thu Sep 06, 2018 11:04 am
Forum: Personal Finance (Not Investing)
Topic: How do you handle Healthcare costs in retirement
Replies: 31
Views: 2565

Re: How do you handle Healthcare costs in retirement

I'm curious on how others on this board are handling healthcare costs in retirement. Specifically two questions; (1) For those on Medicare, do you find you need supplemental insurance and is it expensive ? (2) For those retiring earlier than 65 , not on medicare but possibly enrolling in ACA, do yo...
by MikeG62
Thu Sep 06, 2018 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my financial advisor
Replies: 130
Views: 7437

Re: Should I keep my financial advisor

Hello all, I'm a long time lurker but first time poster. I'm 33yrs old, married, no kids yet but planning to have one soon. I currently have a fee only financial advisor that manages my investment and other aspects of personal finance. They charge flat retainer fee of 5k per year, soon to go up to ...
by MikeG62
Wed Sep 05, 2018 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Fee only Financial planners
Replies: 31
Views: 2588

Re: Fee only Financial planners

OP, have you looked into this option as a way to find a competent advisor who might work for your friend?

https://adviceonlyfinancial.com

It’s run by a guy (Harry Sit) who posts on these forums from time to time.
by MikeG62
Wed Sep 05, 2018 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Score [What changes your credit score?]
Replies: 42
Views: 3343

Re: Credit Score

I have found out firsthand the unfortunate reality is that having credit cards only, and not having a mortgage or car/installment loan does eventually impact your score. Mine has recently dropped from @ 815 to @ 795 now that my last car loan has been paid off for about 5 years - our mortgage was pa...
by MikeG62
Wed Sep 05, 2018 2:32 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Full View transition to eMoney
Replies: 107
Views: 12325

Re: Fidelity Full View transition to eMoney

I have stopped looking at FullView/eMoney since last week. Figure I will give them a few weeks or a month or two and see what fixes they can make. Frankly, I don't need to look at the aggregate account balances all that often. I expect in time these issues will be worked out. Nothing I am saying sho...
by MikeG62
Wed Sep 05, 2018 8:22 am
Forum: Investing - Theory, News & General
Topic: Hold cash in Treasury Bills or in Money Market Fund?
Replies: 36
Views: 4540

Re: Hold cash in Treasury Bills or in Money Market Fund?

I want to hold about 10% of my retirement portfolio in a form that is close to cash. Which of the following is preferable (and why)? 1. Treasury Bills of 1 month, 3 months, or maybe 6 months? 2. The Fidelity Money Market fund FNSXX with a 7 Day Yield of 2.12% net of expenses (usually a $10,000,000 ...
by MikeG62
Tue Sep 04, 2018 7:28 am
Forum: Investing - Help with Personal Investments
Topic: Is it correct, not to make a non-tax deductible IRA contribution ?
Replies: 12
Views: 843

Re: Is it correct, not to make a non-tax deductible IRA contribution ?

It was stated in another thread that: Taxable investments have always been and are far preferable to making non-deductable(sic) contributions to a traditional IRA that you can not convert to a Roth IRA or did not even exist. I have been contributing to my traditional IRA for years, even during the ...
by MikeG62
Tue Sep 04, 2018 7:20 am
Forum: Investing - Help with Personal Investments
Topic: Need help with individual stock advice taxable account
Replies: 19
Views: 1289

Re: Need help with individual stock advice taxable account

Thank you all for the input. The loser portion of my portfolio is probably around 5k. So not a lot to offset. It seems like most folks think that it is better to keep the rest than sell and pay taxes? My individual stock portion is about 10% of my portfolio. I'd be careful allowing the tax impact t...
by MikeG62
Mon Sep 03, 2018 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa Card
Replies: 51
Views: 6988

Re: Fidelity Rewards Visa Card

I've moved most of my spending over to this card away from the Citi Double Cash and it's worked well so far. Only downside is the lack of integration into Fidelity's website as others have mentioned. The automatic rewards redemption is a nice feature that I was missing with the Citi card. Just curi...
by MikeG62
Sun Sep 02, 2018 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: Asset location strategy
Replies: 9
Views: 704

Re: Asset location strategy

Do you locate your assets to best minimize taxes or make rebalancing easier...or some combination of both? Ron, perhaps there are other factors to consider in making that assessment. This podcast may be helpful as you think through answering your question as it covers asset location strategies. htt...