Search found 248 matches

by cowbman
Wed Jan 20, 2021 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: The Mega Backdoor Roth IRA
Replies: 489
Views: 224228

Re: The Mega Backdoor Roth IRA

Look, if you haven't maxed out TSP, 401k, 403b, 457, HSA, IRA/Roth for 2 spouses and kids before having money for rent or food, you haven't done it the BH way. Max out free money accounts first. Then usually especially in higher brackets, you should do tax-deferred space first, followed by Roth spac...
by cowbman
Wed Jan 20, 2021 11:44 pm
Forum: Personal Investments
Topic: 8% APY with Anchor-Too good to be true?
Replies: 19
Views: 2230

Re: 8% APY with Anchor-Too good to be true?

The 8% is only on the first $5,000 and so not as good as it might seem at first. I have an account and get more interest every month than I do at my other "high interest" account with $30,000. After researching Anchor, I was willing to take the risk. Some info here: https://www.investoped...
by cowbman
Wed Jan 20, 2021 9:52 pm
Forum: Personal Investments
Topic: Should I Switch from VG Roth IRA to Roth TSP?
Replies: 5
Views: 342

Re: Should I Switch from VG Roth IRA to Roth TSP?

It sounds reasonable, though you would have many fewer options available to you. I'd consider how it would impact taxes (unlikely any since both Roth) as well as asset protection (depends on state).
by cowbman
Wed Jan 20, 2021 1:01 pm
Forum: Investing - Theory, News & General
Topic: BlockFi Interest Account (8.6% APY) with Stablecoin
Replies: 18
Views: 2381

Re: BlockFi Interest Account (8.6% APY) with Stablecoin

I know, right? NYDFS is given the power of a national regulator, so what it's state politicians and bureaucrats allow vs them don't always match. Is is really the only one? Didn't realize that My first hearing about this was the CEO’s episode of the animal spirits podcast. As they were doing a post...
by cowbman
Wed Jan 20, 2021 12:52 pm
Forum: Investing - Theory, News & General
Topic: Tracking my ARK / Bitcoin - non-Boglehead portfolio
Replies: 91
Views: 4833

Re: Tracking my ARK / Bitcoin - non-Boglehead portfolio

What I dislike about ARK funds are that the Top 10 holdings of each ETF make up about 50% of the holdings and they charge a mutual fund-sized ER at ~ 0.75%. Why not write some rules with your broker on limits for buy/sell and just buy the Top 10 holdings of the ARK fund you are interested in? With ...
by cowbman
Tue Jan 19, 2021 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: social security earnings record
Replies: 27
Views: 2354

Re: social security earnings record

Social Security only includes your highest earning 35 years. If you worked 35 years and contributed the maximum, congratulations you will earn the maximum. If you worked 50 years and contributed the maximum, you get the same amount. If you worked 35 years at the maximum, and 10 at less the maximum, ...
by cowbman
Tue Jan 19, 2021 9:00 pm
Forum: Personal Investments
Topic: Investing advices
Replies: 5
Views: 942

Re: Investing advices

Nexo seems like a ponzi scheme. I'd take out my money, while I can.
by cowbman
Mon Jan 18, 2021 5:58 pm
Forum: Investing - Theory, News & General
Topic: Tracking my ARK / Bitcoin - non-Boglehead portfolio
Replies: 91
Views: 4833

Re: Tracking my ARK / Bitcoin - non-Boglehead portfolio

What I dislike about ARK funds are that the Top 10 holdings of each ETF make up about 50% of the holdings and they charge a mutual fund-sized ER at ~ 0.75%. Why not write some rules with your broker on limits for buy/sell and just buy the Top 10 holdings of the ARK fund you are interested in? With $...
by cowbman
Mon Jan 18, 2021 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 125
Views: 43560

Re: Primer on Paying Taxes With a Credit Card

international001 wrote: Mon Jan 18, 2021 5:09 pm
cowbman wrote: Mon Jan 18, 2021 2:59 pm Pretty sure Insurance & Tax Payments are specifically included from the online bonus with BoA.
YOu mean excluded? Check the pdf djheini sent
I do. My phone auto-correct is both very aggressive and WRONG.
by cowbman
Mon Jan 18, 2021 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: social security earnings record
Replies: 27
Views: 2354

Re: social security earnings record

A related question, for this situation: Individual starts collection SS at age 66. Continues to work, with highest 35 years continuing to be achieved. How long does it take SS to update their records of income earned, and then increase payments to an individual? This is irrelevant. If you maxed out...
by cowbman
Mon Jan 18, 2021 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 125
Views: 43560

Re: Primer on Paying Taxes With a Credit Card

Pretty sure Insurance & Tax Payments are specifically included from the online bonus with BoA.
by cowbman
Mon Jan 18, 2021 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: LDHP vs HSA + HDHP - Is My Math Correct?
Replies: 18
Views: 684

Re: HSA vs PPO - Is My Math Correct?

Well if this is the case, you have your answer. I'd say your case is a bit unusual amongst those who receive insurance through work. Usually HMO/PPO options have lower deductibles than yours. I'd think if the deductible was less than $1000, you'd be better off the non-HDHP. OP HAS lower deductible ...
by cowbman
Mon Jan 18, 2021 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Advice to Avoid/Minimize MA Estate Tax
Replies: 50
Views: 2323

Re: Advice to Avoid/Minimize MA Estate Tax

Is moving to New Hampshire not an option?
by cowbman
Thu Jan 14, 2021 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: LDHP vs HSA + HDHP - Is My Math Correct?
Replies: 18
Views: 684

Re: HSA vs PPO - Is My Math Correct?

With HSA eligible plan, you have 2200 extra deductible which will come into picture during the worst case. You pay $800 less in premium for HSA. So the 2200 extra became 2200-800 = 1400. But your employer is giving 2k. So in worst case, you will pay 1400 extra but that was compensated by 2k from em...
by cowbman
Fri Dec 25, 2020 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about parking $30k with Morgan Stanley for a free Amex Plat Card
Replies: 21
Views: 5092

Re: Thinking about parking $30k with Morgan Stanley for a free Amex Plat Card

OP, are you planning to travel during the next year? I know I'm not, and I normally travel often. Without the travel, the Amex Platinum card has little value. We still will make 2-3 trips this next year to visit family or take a vacation (wearing an N95 mask with a face shield, avoiding food and dr...
by cowbman
Fri Dec 25, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking about parking $30k with Morgan Stanley for a free Amex Plat Card
Replies: 21
Views: 5092

Re: Thinking about parking $30k with Morgan Stanley for a free Amex Plat Card

If you forego 1% interest on that $25,000, then that is $250 per year. Plus $17.50=$267.50. A Schwab Amex Platinum is $350, after the $200 cash back. I suppose the Platinum is a good card if you highly value lounge access. 5x points on travel booked through Amex is also good, provided you have a ch...
by cowbman
Sat Dec 05, 2020 1:55 am
Forum: Personal Investments
Topic: AA for a child
Replies: 11
Views: 1042

Re: AA for a child

You could make this even more simple and just buy into the Target Retirement or LifeCycle funds. You'd have to eat a little higher ER though.
by cowbman
Tue Dec 01, 2020 5:46 pm
Forum: Personal Consumer Issues
Topic: Galaxy A71 or Galaxy S20 FE or something else?
Replies: 8
Views: 635

Re: Galaxy A71 or Galaxy S20 FE or something else?

You could always pick a cheap older phone too. It's a bit like would you rather have a used Lexus or a new Toyota Corolla?
by cowbman
Thu Nov 26, 2020 1:44 pm
Forum: Personal Investments
Topic: TSP versus Vanguard IRA
Replies: 19
Views: 9019

Re: TSP versus Vanguard IRA

Something I haven't seen mentioned here is asset protection. IRAs usually don't follow under ERISA while 401(k)s do. I did dig up and see that TSP is NOT covered by ERISA, which I find surprising and disappointing. Maybe this is why no one else mentioned it. I think it's something worth thinking abo...
by cowbman
Thu Nov 26, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: discover checking/savings
Replies: 15
Views: 1415

Re: discover checking/savings

Costco will only takes visa. Costco (in store) only takes Visa credit cards, but accepts all debit cards. I did not know that so they will take a mastercard debit at Costco. Do you need to use a pin? Yes To understand why this makes sense for Costco, take a look at the Mastercard interchange rates:...
by cowbman
Wed Nov 25, 2020 12:37 am
Forum: Personal Investments
Topic: Merrill Lynch to Edge
Replies: 10
Views: 988

Re: Merrill Lynch to Edge

It's probably more of a headache than you are looking for, but you could open an account almost anywhere else (and get a bonus), such as E-trade, Schwab, Fidelity, etc.
by cowbman
Sun Nov 22, 2020 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house without a realtor
Replies: 55
Views: 6298

Re: Buying a house without a realtor

In a VHCOL locale, I imagine using an attorney would be much cheaper than 1-3% of the home purchase price. Any disincentive to doing your own leg work and using a good real estate attorney to ensure the timeframes, contracts, etc. are correct? Assume the buyer can adequately price the home and deal ...
by cowbman
Sat Nov 21, 2020 4:04 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 857

Re: Maximize after tax returns: question on understanding

If you are looking to put $3MM in cash somewhere, you are unlikely to be using savings accounts given the FDIC limits. T-Mobile Money pays 4% APY on the first $3000. Only requirement is transfer $200/mo into the account. Yes, you can immediately move it out too. After the first $3,000, they pay 1% A...
by cowbman
Sat Nov 21, 2020 3:56 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 857

Re: Maximize after tax returns: question on understanding

DM, I can send a referral. USA So it's a secret? Why would it be a secret? It's not, I just want the referral bonuses. Other forums here on BH talk about it. Getting a referral bonus for opening an account is not earning 3%. You are selling your personal data, or it is a scam, or it is limited to a...
by cowbman
Sat Nov 21, 2020 3:54 pm
Forum: Personal Consumer Issues
Topic: Buying a FSBO house. How to proceed?
Replies: 6
Views: 553

Re: Buying a FSBO house. How to proceed?

I've been wondering about this. Real Estate Agents frequently take 2-3% on each side. Wouldn't it be cheaper for both sides to list on a FSBO/MLS aggregation site and just use attorneys? It obviously depends on the property price, but in VHCOL markets, it seems it'd be cheaper to pay an attorney rat...
by cowbman
Sat Nov 21, 2020 2:56 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 857

Re: Maximize after tax returns: question on understanding

I agree with the idea of putting bonds in tax advantaged accounts, but have actually embarked on the following strategy. I'd appreciate comments if I'm view this poorly. My current asset allocation is 80/20 (stock/bond). 1) While I'm working (High income and high tax state) - keep fairly large amou...
by cowbman
Sat Nov 21, 2020 2:54 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 857

Re: Maximize after tax returns: question on understanding

UpperNwGuy wrote: Sat Nov 21, 2020 2:47 pm
cowbman wrote: Sat Nov 21, 2020 1:56 pm DM, I can send a referral. USA
So it's a secret? Why would it be a secret?
It's not, I just want the referral bonuses. Other forums here on BH talk about it.
by cowbman
Sat Nov 21, 2020 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO Umbrella: Significant Increase in Premium
Replies: 84
Views: 9433

Re: GEICO Umbrella: Significant Increase in Premium

Oilcans wrote: Thu Aug 06, 2020 6:07 pm Have Allstate homeowner's which went up $203 this year.


$5 million umbrella with Allstate has been $574.15 since 2016.
What state? Allstate wants that for $2MM in CA
by cowbman
Sat Nov 21, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford this $725,000 house?
Replies: 162
Views: 11903

Re: Can we afford this $725,000 house?

We're 36 with kids aged 5 and 2. Combined income = $190k per year Net worth = $1.15 M Current Home Value = $460k Current mortgage balance = $132k Current Home equity = $318k Investments (401k, HSA, Taxable Brokerage) = $710k Cash accounts ~ $150k We're looking at buying a new house for about $725k ...
by cowbman
Sat Nov 21, 2020 1:50 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 857

Re: Maximize after tax returns: question on understanding

You can do significantly better (even after taxes) with some online savings accounts/high yield-checking accounts. No principal risk either. This is actually an unknown. You are confusing current yield, expected future yields, and ultimate total return. You do not know what the total return will be...
by cowbman
Sat Nov 21, 2020 1:37 pm
Forum: Personal Investments
Topic: Maximize after tax returns: question on understanding
Replies: 23
Views: 857

Re: Maximize after tax returns: question on understanding

You can do significantly better (even after taxes) with some online savings accounts/high yield-checking accounts. No principal risk either.
by cowbman
Thu Nov 19, 2020 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: High Interest Savings Account
Replies: 56
Views: 4510

Re: High Interest Savings Account

T-mobile money offers 4% on the first $3000 and 1% thereafter
by cowbman
Thu Nov 19, 2020 12:36 pm
Forum: Personal Consumer Issues
Topic: Need to move out of AAA Insurance
Replies: 23
Views: 1789

Re: AMICA

AMICA 40 years for auto and 9 years for home. Happy. Service is excellent. Homeowners' premiums have exploded, but that is what happens when you have a billion $ hailstorm in 2017. AMICA. When you get a quote be sure to know if it is with or without a dividend. The no dividend policies look cheaper...
by cowbman
Sat Nov 14, 2020 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Medigap F HD or G HD?
Replies: 10
Views: 754

Re: Medigap F HD or G HD?

I'm less familiar with the high-deductible plans, but for regular F & G plans the difference is that F covers the deductible and G doesn't. For 2020, the deductible is ~ $200. Frequently insurers are more than $200/year less for the G plan, so if you can afford the deductible at the beginning of...
by cowbman
Sat Nov 14, 2020 9:02 am
Forum: Personal Consumer Issues
Topic: Items that are worth the money for the quality
Replies: 490
Views: 41092

Re: Items that are worth the money for the quality

Vanguard index funds (much preferred to Fidelity "Zero" funds) Why? Top of my list is Portability. You can’t move them outside of Fidelity . Next would be the Capital Gains that they throw off (if held in Taxable) vs. VTSAX WoodSpinner Gains are an issue which is why I use FZROX in non-ta...
by cowbman
Sat Nov 14, 2020 9:01 am
Forum: Investing - Theory, News & General
Topic: Buying TQQQ vs Shorting SQQQ (for long term)
Replies: 43
Views: 4821

Re: Buying TQQQ vs Shorting SQQQ (for long term)

I've been shorting SQQQ for a while now. I believe it is one of the best strategies in the world. It is certainly better than going long on 3x leveraged ETFs because you put volatility decay in your favor. If you've done backtests, you'll know that the results speak for themselves. Some brokers lik...
by cowbman
Thu Nov 12, 2020 10:48 am
Forum: Personal Consumer Issues
Topic: Items that are worth the money for the quality
Replies: 490
Views: 41092

Re: Items that are worth the money for the quality

000 wrote: Fri Oct 16, 2020 10:10 pm Vanguard index funds (much preferred to Fidelity "Zero" funds)
Why?
by cowbman
Thu Nov 12, 2020 12:15 am
Forum: Personal Investments
Topic: Where to save $$$ for a home?
Replies: 14
Views: 1280

Re: Where to save $$$ for a home?

I have my EF in various online savings accounts and/or high yield checking accounts. You should be able to get 0.65-1% if you look around. Not great, but considerably better than what you are getting. Yield on treasuries is abysmal currently.
by cowbman
Tue Nov 03, 2020 3:38 pm
Forum: Investing - Theory, News & General
Topic: Is it good idea to use Ultrashort Bond Funds for Cash ?
Replies: 35
Views: 4760

Re: Is it good idea to use Ultrashort Bond Funds for Cash ?

Currently online savings account/No Penalty CDs are probably your best bet.
by cowbman
Tue Nov 03, 2020 3:37 pm
Forum: Personal Consumer Issues
Topic: Chase Ultimate Rewards Easiest Redemption
Replies: 5
Views: 900

Re: Chase Ultimate Rewards Easiest Redemption

You come out ahead over Hyatt redemptions? It's pretty easy to get a $100+/night hotel for 5,000-8000 points.
by cowbman
Sun Oct 25, 2020 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Tax Strategies, going from high income to low income
Replies: 11
Views: 1404

Re: Tax Strategies, going from high income to low income

gasdoc wrote: Sun Oct 25, 2020 5:50 am Consider Roth conversion starting in 2021, in order to get pretax money over to post tax bucket prior to interest rates increasing down the line.

gasdoc
100% This is one of the benefits of retiring prior to Soc Sec and having savings.
by cowbman
Thu Oct 15, 2020 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Is there any investment products can guarantee 2-3% annual return?
Replies: 37
Views: 4324

Re: Is there any investment products can guarantee 2-3% annual return?

Ecuador has 5 year CDs with 8.5% return. Ecuador uses the dollar and has lower debt to gdp than US. Capital controls and taxes may affect whether or not this is worth it though. In what world do taxes make up a difference of 5-6% APY? You overlooked the part about capital controls. You put your mon...
by cowbman
Wed Oct 14, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Is there any investment products can guarantee 2-3% annual return?
Replies: 37
Views: 4324

Re: Is there any investment products can guarantee 2-3% annual return?

Slowtraveler wrote: Fri Sep 25, 2020 12:42 pm Ecuador has 5 year CDs with 8.5% return. Ecuador uses the dollar and has lower debt to gdp than US.

Capital controls and taxes may affect whether or not this is worth it though.
In what world do taxes make up a difference of 5-6% APY?
by cowbman
Wed Oct 14, 2020 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Use of Whole Life Insurance for Estate Planning
Replies: 61
Views: 3749

Re: Use of Whole Life Insurance for Estate Planning

Why not just move to New Hampshire to avoid the state estate tax? Moving is a hassle, but if you need to be the MA area, NH is very close with much better tax laws for the wealthy. You may still face the federal estate tax, though the exemption is currently over $20M for a married couple. This may ...
by cowbman
Sun Oct 11, 2020 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Use of Whole Life Insurance for Estate Planning
Replies: 61
Views: 3749

Re: Use of Whole Life Insurance for Estate Planning

Why not just move to New Hampshire to avoid the state estate tax? Moving is a hassle, but if you need to be the MA area, NH is very close with much better tax laws for the wealthy. You may still face the federal estate tax, though the exemption is currently over $20M for a married couple. This may c...
by cowbman
Tue Sep 29, 2020 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: HM Bradley savings plan 3% APY
Replies: 97
Views: 9770

Re: HM Bradley savings plan 3% APY

I've had an account for a month now. Interesting concept but not without some kinks. A couple weeks ago they had an authentication outage where I couldn't login for half a day. Couldn't create an ACH link on their site, though I can push and pull money from external account. After starting the link...
by cowbman
Tue Sep 29, 2020 9:05 pm
Forum: Personal Consumer Issues
Topic: Buying an elliptical machine - please recommend
Replies: 15
Views: 1296

Re: Buying an elliptical machine - please recommend

I'm uncertain of prices, but I dislike PreCor. LifeFitness has been my favorite. If you can find one in your price range, it seems to be a quality product (I always used it at my gym, pre COVID anyway).
by cowbman
Sun Sep 13, 2020 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Hawaii state tax- too good to be true
Replies: 44
Views: 5444

Re: Hawaii state tax- too good to be true

I have a CA public pension- defined benefit pension. I have read that I will not be taxed my pension in Hawaii. Doing the Math based on the instructions for filing Hawaii income tax form: Hypothetically- If my Federal AGI is 100k (65k for my pension plus 35k for long term capital gain) My Hawaii AG...
by cowbman
Fri Sep 11, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: JPM Chase Reserve Card gets more expensive
Replies: 509
Views: 49575

Re: JPM Chase Reserve Card gets more expensive

Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule? It does not. 5/24 is for new applications Excellent, thanks. I wonder if Chase is regretting the 1.5% cash back towards groceries/dining, since it's enabled many of us to effectively cash out our rewards points an...