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I suggest you call Ally Bank and see what they suggest. Their website lists an international phone number as 001-757-247-2559 I called. They say they don't have an international option and ask me to buy a flight ticket to go back to the US and call them again. Is this ridiculous? :oops: Its getting worse and worse with these big banks who in the name of security flag peoples accounts which may just be false positives but they use it as a means to block accounts give you the run around for your own money and totally destroy the customer experience Yes they have got fined for not doing enough but instead of having tried and tested sophisticated technology in place and employing human intelligence to investigate alerts they rely out strict sc...

[Thread merged into here --admin LadyGeek]

https://www.cnbc.com/2023/03/13/wall-st ... lans-.html

CNBC Article says wall street will pay for SVB uninsured deposit losses not the taxpayer. This is just another way of saying that we will charge them in some way and they will pass on the charge to you in another way. Ultimately the common man pays for all the bad business decisions made by the leveraged financial/systemic institutions

Does this mean any un-insured deposits will be bailed out by FDIC going forward in case of any bank failure so basically the 250K threshold does not exist anymore

Thanks everyone who have commented so far on my thread but please note my question is not about the the calculation of FDIC insurance based on POD beneficiaries. Its about whether just filing the POD form with the bank meets all the FDIC requirements of forming an irrevocable trust account making the FDIC insurance take effect based on no of beneficiaries in case on bank failure. I was told by my financial institution that although they can add POD beneficiaries to the account this in itself would not make it a irrevocable trust account to increase FDIC insurance. but again the customer service reps and managers can be wrong as everyone here would have experienced that during their lifetime Hence i opened this question to the community is w...

Hello ALL If we instruct the bank to add POD beneficiaries to Checking/Savings account , will it automatically form an informal recvorcable trust and meet the FDIC criteria of increasing FDIC insurance based on no of beneficiaries or does the bank needs to do anything special to comply with the FDIC mandate of indicating that the account mentioned in the form is held in pursuant of a trust relationship using the term POD contained in the bank's electronic deposit account records If the latter , What process do you need to follow apart from the filling out the POD beneficiary form and what kind of confirmation do you need to get from the bank to make sure you are meeting the FDIC requirements of higher insurance limits for your checking/savi...

dukeblue219 wrote: ↑Sat Mar 04, 2023 1:10 pm

recklessmax wrote: ↑Sat Mar 04, 2023 1:02 pm Does anyone know why the SGOV Yield drop 30% as of last dividend declaration (03/01/2023) although it primarily hold only short term treasury bills whose yields have only stayed steady or gone up over the past month . The current yield was even less than the 1 month treasury bill rate

What are you using to determine yield? Yield by itself is usually just a sum of the last 12 months worth of dividends which sometimes includes one-off events or some weird timing overlaps. It isn't like the yield on savings account that describes what you are earning right now. SEC Yield is a better metric for that.

Was referring to the 30 day SEC yield from their website of 4.44% on March2.

Rocky Mtn Man wrote: ↑Sat Mar 04, 2023 1:11 pm The Feb 2nd dividend of 39 cents was 6 weeks of dividends, the previous one was on December 16th. This was done to avoid a dividend right at the change of the calendar year.

The March 2nd dividend of 28 cents was back on a monthly schedule.

Thanks . I saw that the previous dividend was for 6 weeks but how does that same logic explain by the dividend payout was 0.33 for just 15 days
between 12/1/22 to 12/15/22. Was that a special dividend payout ?

Does anyone know why the SGOV Yield drop 30% as of last dividend declaration (03/01/2023) although it primarily hold only short term treasury bills whose yields have only stayed steady or gone up over the past month . The current yield was even less than the 1 month treasury bill rate

Affable at 50 wrote: ↑Thu Mar 02, 2023 4:41 pm The 12% is applied to the net STCG, so the result after STCL are deducted.

I believe this is true for STCL offset in the same year . Does the net also take into account the offset from STCL from past years ?

retiringwhen wrote: ↑Thu Mar 02, 2023 1:43 pm You are taking the annual $3K carry over losses for earned income, correct?

Yes already doing that

If you always sell SGOV for a gain (buy the day after ex-dividend), wash sales are not an issue. It looks like you could generate at least $300/month in STCG if you timed correctly on a $100K position. That does seem like a nifty trick to turn dividend income into STCG and offset with carry over losses. Ironically, there was a long thread were a poster argued this had to be disallowed or illegal or something, but the general response was that is was perfectly legal. The only downside is that the SGOV dividends would have been exempt from Tax income tax in most states, but your scheme would make them potentially taxable. Do you have state carry over losses that could cover? Oddly, if you live in NJ, while you can't claim carryover losses, I...

Hello ALL I have some substantial losses that i am carrying over from 2009 financial crisis where i sold a bunch of securities at a loss. I have been carrying forward those losses on my taxes apart from some offset of those losses. However i have not been able to offset majority of them against long term capital gains that i have accumulated through the past few years because i have been holding my taxable equity funds for long term now without selling them But i have also a decent amount in money market funds in 2022 since i wasnt sure where the market was headed in 2022. I am getting bunch of dividends on that money because of the high treasury yields and will need to pay taxes (federal+NIIT) on those so high tax bracket I was thinking of...

anon_investor wrote: ↑Fri Feb 24, 2023 10:06 pm

mudfud wrote: ↑Fri Feb 24, 2023 8:58 am VMSXX has begun its fall, now at 3.66% compared to 3.76% a couple of days ago. Still excellent TEY yield in higher brackets, but stepper drops coming up if past patterns hold.

Since Vanguard only shows 7 day yields, the current yield is significantly lower. Based on 1 day yields for similar funds (Fidelity, Blackrock, etc.) it is very like the current yield is closer to 3%.

Can you guide me where i can see the 1 day yields at Fidelity for their muncipal money market
FTEXX shows me a 7 day yield similar to vanguard VMSXX

Ah didnt realize those numbers were as of 12/31/2022 . .. Thank you all for the clarification

Can someone clarify why VUSXX is showing an YTD return of 1.5% for 2023 on vanguard website although the average SEC yield and daily dividend accrual has been 4% or more for all the days in 2023

In this case if as a customer im not clear on what exactly i will earning back on my investment in a money market why would i want to invest into it People do because such funds are a convenient place to hold money to which one adds or draws from frequently while having no risk to the NAV of a share. It is a risk that the yield is variable and is not known exactly from day to day, let alone over longer times. 'There are other sorts of assets where the yield is known exactly in some sense or the other but may have other risks or inconveniences. An investor chooses what best suits his purposes. Not knowing the exact yield from day to day is hardly a big deal to most people. If it is, then a different investment would be more suitable. Person...

In this case if as a customer im not clear on what exactly i will earning back on my investment in a money market why would i want to invest into it People do because such funds are a convenient place to hold money to which one adds or draws from frequently while having no risk to the NAV of a share. It is a risk that the yield is variable and is not known exactly from day to day, let alone over longer times. 'There are other sorts of assets where the yield is known exactly in some sense or the other but may have other risks or inconveniences. An investor chooses what best suits his purposes. Not knowing the exact yield from day to day is hardly a big deal to most people. If it is, then a different investment would be more suitable. Person...

Daily dividends diverge from the 7 day SEC yield as the SEC yield is just the average of the last 7 days. Vanguard will tell you the accrued dividends for a fund if you use the “Balance by date” to see the dividends actually accrued as of each date. You can manually calculate the delta on a daily basis. Thanks for your response. I actually took the daily SEC yield into account while doing the calculation which is available on vanguard website For simplicity in the post i wrote the average yield for those days calculated based off the daily yields Are you saying that the daily yield that is provided by vanguard is approx only and the dividend paid out that day can deviate from this daily SEC yield ? There is no daily yield published that I ...

Daily dividends diverge from the 7 day SEC yield as the SEC yield is just the average of the last 7 days. Vanguard will tell you the accrued dividends for a fund if you use the “Balance by date” to see the dividends actually accrued as of each date. You can manually calculate the delta on a daily basis. Thanks for your response. I actually took the daily SEC yield into account while doing the calculation which is available on vanguard website For simplicity in the post i wrote the average yield for those days calculated based off the daily yields Are you saying that the daily yield that is provided by vanguard is approx only and the dividend paid out that day can deviate from this daily SEC yield ? There is no daily yield published that I ...

retiringwhen wrote: ↑Thu Jan 19, 2023 8:44 am Daily dividends diverge from the 7 day SEC yield as the SEC yield is just the average of the last 7 days. Vanguard will tell you the accrued dividends for a fund if you use the “Balance by date” to see the dividends actually accrued as of each date. You can manually calculate the delta on a daily basis.

Thanks for your response. I actually took the daily SEC yield into account while doing the calculation which is available on vanguard website
For simplicity in the post i wrote the average yield for those days calculated based off the daily yields

Are you saying that the daily yield that is provided by vanguard is approx only and the dividend paid out that day can deviate from this daily SEC yield ?

Does anyone know of a Dividend Calculator for Vanguard money market funds like VMSXX, VUSXX if an X amount is invested for partial month/days within the fund and not for the entire month when dividends are declared. I parked money for short term in VMSXX for 17 days (Jan 1-Jan17) as follows Jan 1 - Jan 3 - 580,000 (avg SEC yield 3.516 for 3 days) Jan 4 - Jan 11 - 680,000 (avg SEC yield 3.166 for 8 days) Jan 12 - Jan 17 - 930,000 (avg SEC yield 2.516 for 6 days) *** As per vanguard yield on Sat and Sun is same as close of business day on Friday At end of day Jan 17 i liquidated the entire fund and dividend paid was $964.57 As per my calculation it should have been closer to $1024 so i might be doing something wrong in the calculation or i ma...

Looking to hold for 1.5-2yrs from today before buying real estate Woah. In a long term bond fund, you can lose substantial principle over that time period. Particularly in a rising rate environment. For a 2-year holding period I would be in tax exempt money market, or short muni fund, or a mix of the two. Okay thanks for the recommendation. Already using muni money market for sizeable portion of cash but rates drop like crazy during various cycles on that so was looking at other tax exempt options as well (in this case there is an option to invest into the fund which is both both fed and state tax free with high yield) What about a constant interest rate environment of around 5% . Will the principal NAV take a huge hit on these long term b...

In 2020, I thought I was smart enough to deal with individual stocks. Boy was I wrong. I bought Tesla at $250, and sold at $350. Then the price soared past a thousand per share. Then, I bought Apple at $129. Goldman Sachs said to sell at $165 because China was going to give Apple a hard time. So I sold $100k worth, and the price quadrupled after that. I bought Disney at $65, and sold at $90. The price nearly doubled after that. I bought Berkshire at $175, dropping $500k buying the dips. This one I kept, and has returned 60% in one year. Finally, I bought Amazon at $1400, and sold at $1900. Then the price went past $3,000. I threw in the towel after that. I made some money, but it was too exhausting. I’m sticking to VOO etf. "I bought ...

There is no way I would buy a LT Muni fund for current year income. A 0.5% increase in rates, which is quite possible would wipe out all of your current year income on a total return basis. Duration is up to 7.4 years as of yesterday and rising (it was as low as 5 just 18 mos. ago) Unless you are in a high Federal tax rates (> 27.8% w/ NIIT), Tbills will give you better current income without any principle risk. How long are you planning on holding these funds? Thanks for the data points. The rate is most likely to go up on Jan31-1st meeting and also in march by 0.25 each for a total of 0.5 (maybe one more 0.25 if inflation remains sticky) . So are we saying that the current NAV for these Long Term Tax-exempt bond funds have not priced in ...

Hello ALL Im looking to invest some cash into Vanguard Long-Term Tax-Exempt Fund Investor Shares which took a 10-11% hit on the NAV in 2022. The yield is 3.7% and free from federal tax (also state tax more if you do state specific) which would result into a nice TEY of closer to 6% . The NAV has been steadily increasing in the past couple of months What is the view in the bogleheads community on the outlook for Long-Term Tax-Exempt Bond Funds for 2023 in a steady high interest rate environment of around 5% for most of 2023. What are some of the risks in 2023 investing into Long-Term Tax-Exempt Bond Funds if inflation does not skyrocket from here , either goes down or remains sticky There are short term Tax-Exempt Bond Funds but the yield is...

I don't have the $25k min for FZEXX quote yet. But I did move from SPRXX (4.15%) to FTEXX (3.41%), since the after tax for me is quite a bit higher. I often see muni MM's yields spike near the end of the quarter. Im going to wait until mid January and see how it looks then. Thats what I meant about being suspicious. 5%+ TEY on a muni money market just seems too good to last. It may be time to move out of Munis. 1-day yields have dropped a lot in the past week. FZEXX: 12/28/2022 3.43% 12/29/2022 3.34% 12/30/2022 3.26% 12/31/2022 3.26% 01/01/2023 3.26% 01/02/2023 3.26% 01/03/2023 3.22% 01/04/2023 3.13% 01/05/2023 2.81% FTEXX: 12/28/2022 3.41% 12/29/2022 3.31% 12/30/2022 3.26% 12/31/2022 3.26% 01/01/2023 3.26% 01/02/2023 3.26% 01/03/2023 3.24...

Hello All Sorry to raise this thread from the dead back in 2009, but i have run into an issue with NewBank USA around this product offering I had got into the education savings club account at 7% for 100K with auto transfers. For the past 12 years i have been transferring the contract amount of 319.21 this was going fine even when i used to schedule the transfer late if the transfer was moved to different bank or i was travelling etc and the bank staff themselves told me that they will swipe the amount if it comes later which is how it has been running all along. I have history of few transfers missed by a month back in from back in 2012, 2014, 2017 I was declaring my accrued interest to IRS every year after getting a 1099-OID from them for...

Was looking for ideas on how to deal with Cash balance in Webull from time to time used for short term opportunity trades
They dont offer a cash sweep account and i tried to buy money market funds and did not have permission

Anybody using Webull have any other low risk trade ideas to hold cash short term but get paid interest on that money

Im looking to park Cash ((saved for real estate later in 2023) for short term in tax efficient money market and after some analysis i have chosen VMSXX because my fed tax bracket in 33% and state tax is 6.37%. I am have some open tax efficiency questions that vanguard cannot answer before confirming the transaction by 4pm EST today 1) If im invested in VMSXX (federal tax free) that means that interest/dividend income wont be included in part of my AGI over 200K (single) and hence will not be not subject to NIIT tax (3.5%) ? 2) Has anyone who ever invested in VMSXX or similar funds got a 1099B at end of the year with some percentage taxable arising out of VMSXX. If yes how much was taxable portion of the interest/dividend arising out of VMSX...

mangoheadgolf wrote: ↑Thu Dec 29, 2022 12:19 pm Can someone recap the basics of this topic?
Is the gambit here trading yield for taxability?
Is this really a huge difference?

VUSXX
Vanguard Treasury Money Market Fund (VUSXX)
3.96%
Fed tax yes
State tax no

VMSXX
Vanguard Municipal Money Market Fund (VMSXX)
3.63%
Fed tax no
State tax yes

As per my understanding Yes its going to be a decent difference if you want to invest a big amount are in 33% tax bracket and want to lower your AGI. More if you are in zero tax state

Glad to help. Given simplification as a goal. Our time here is over and either way VUSXX is certainly better today. But ... to extend the conversation just a bit more, it would be very easy to occasionally check once a week via a google spreadsheet. As you can see the cycle is rather predictable, shifting monies between MM funds is simple enough, and today VMSXX jumped again and should be greater than VUSXX in about a week and stay that way for some time. But again I understand not being motivated to chase a few basis points given how quickly you might need to get back out of VMSXX at 22%; but at 32% the duty cycle is closer to 50/50 Finally, are you subject to NIIT? If so, then your federal marginal rate is 35.8 and that adds a little mor...

Where can i find a listing of all the tax free money market funds with the best yields across all brokers. I am in NJ and vanguard has closed the Vanguard New Jersey Municipal Money Market Fund (VNJXX). was looking to find equivalent fund with best yields across other brokers

Also how does it work with the expense ratio. Is that already included as part of the yield / NAV ?

What is the current APY for this beta program by vanguard considering the hike in interest rates

Anyone here have a capital one miles earning rewards credit card ? If yes does capital one offer Nordstrom gift card as an option for redemption
and if yes at what rate 1 cent per miles or 0.8 cent per mile ? I currently dont have one so cant check their rewards website redemption option but want to apply for their card based on this redemption option being available .

So based on the comments you cannot have any other IRA except ROTH IRA in the calendar year you execute the backdoor roth strategy so you dont get hit by the IRS prorata rule. Bit post that calendar year if you decide you can have a rollover IRA and roth IRA independently without triggering any IRS prorata rule/ Is this understanding correct ? I just went thru this process for the first time(HUGE thank you to this forum and especially celia!). My understanding is you can have as many traditional IRA and Roth IRA accounts as you want. As mentioned before the IRS counts all tIRAs as one tIRA, and all Roth IRAs as one Roth. The important thing is to not have any money in the tIRAs (all of them) on 12/31 of the year you made a conversion to a ...

So based on the comments you cannot have any other IRA except ROTH IRA in the calendar year you execute the backdoor roth strategy so you dont get hit by the IRS prorata rule. Bit post that calendar year if you decide you can have a rollover IRA and roth IRA independently without triggering any IRS prorata rule/ Is this understanding correct ?

Thanks also lets say i move all the pretax IRA funds into my 401K at work and do the roth conversion for the post tax funds by end of this year along with paying tax on any little interest . Now what i decide to leave my current 401K employer . Although i can leave the funds in the 401K with them or move it to subsequent employer if they have a good plan but it would be better to move them into a rollover IRA to have more choices. In that case can both rollover IRA and Roth IRA exists independently int he same year without triggering the IRA pro-rate rule or any other tax consequences as long as i file tax forms correctly

Thanks for info provided earlier by everyone . this process got pushed out as the tax deadline was extended and im doing this now

Im contributing non deductible 6K to the traditional IRA to do a backdoor roth before end of year by moving all my deductible IRA to the 401K
However what happens to the interest earned in the traditional IRA until all the process is completed. Since that interest is taxable where
does it go and how is it reported at time of conversion to Roth IRA

Also what is the general timeframe to effect the conversion. Does it take few days or weeks to do conversion from traditional to IRA by
the custodian

Thanks

^^ What KingRiggs said. You can take the following steps: - Make a non-deductible contribution to a Traditional IRA, keep it in a money-market fund until the step below is completed - Contact your 401k plan and Traditional IRA custodian, and initiate a rollover of the Traditional IRA to 401k - Once the rollover is completed ... you actually see the money in your 401k balances ... then convert the n-d-tIRA to Roth. Complete the first step before April 15th. Then attempt to complete step-2, you have until the end of the year, obviously you don't want to dawdle too long. If you hit a snag in that reverse-rollover step, you can ask the custodian to return your contributions as if it was never made. If you did complete, proceed to the last step...

Hello ALL

Anyone aware of good promotions (cash bonus or rates) for opening Tradition IRA Promos wiht the max of 6K investment for 2019 . Need to invest by next week deadine of 15th July. Did some quick search online and wasnt able to find anything much at all, only some big companies with high investment amounts

Bump.. If anybody has an answer for my situation

I have claimed my dad as a dependent for HOH status in the past years as his income is negligible. Because of claiming him as a dependent i get HOH status which results in a bump to my standard deduction. For 2018 tax year i had taken an automatic 6 month extension to file but paid extra taxes due while filing extension so i dont owe anything except a smallish refund. In Nov 2018 i sent my tax returns but never heard back and just found out recently that they have never received my 2018 return so i need to send again for my stimulus payment Given the situation since the IRS has neither my 2018 or 2019 return my dad also filed separately for stimulus payment for the check. Since the registration does not results in filing a tax return on his...

How is this going to cover freelancers/sole proprietors as they were asked to hold on till the 10th of April to apply. Is the wells fargo windows closed only for small business or also for them ?

Agree with the comments from Spirit Rider above. But how do we find this out . Do we call IRS helpline or give it some time as they are figuring out the changes since this is a fairly recent announcement ?

I understand that the tax filing deadline was extended to July15. Does this mean IRA contributions can be made until that date for FY2019
.ie is the deadline was IRA contributions also been extended ?

Hello ALL Currently holding 50% of my portfolio in VBTIX after rebalancing last week based on limited options available in my employer 401k plan The trend for this bond fund has been down for the past 3 days based on current market conditions. Since it is a mutual fund i cannot trade intra-day in my 401K plan. Everyday can be different based on several factors and policy announcements so i wanted to know if there was a hedge against VBTIX this which i could put on as a day trade in my vanguard brokerage account to stop some of the bleeding based on the day if it continues to fall until i rebalance 401k portfolio again. This is considering Vanguard does allow you to purchase inverse and leveraged ETFs in the brokerage accounts anymore and i ...

watchnerd wrote: ↑Wed Mar 11, 2020 2:09 pm

recklessmax wrote: ↑Wed Mar 11, 2020 11:59 am BND .. although i reduced 50% exposure, its been falling like a knife since past few days ?
tried to sell BND short on another brokerage to cover the exposure in my 401K account and it wont let me ?
so whats a good hedge for BND or should i sell and move the rest of 50% in BND to money market since everything is falling even treasury funds

My Treasuries are fine so far today, not a lot of movement.

LTT down by -0.5%, short TIPs up +0.5%.

Do you expect a bond fund to have zero volatility?

No i didnt say bond funds cant go down or have no volatility .. its an investment and can go to zero
My question is what are the hedge options for vanguard total bond market fund (BND) ? that i can put on

Based on my income limits i am not eligible for ROTH IRA but I understand that irrespective of income limit i can do a backdoor ROTH
I was planning to do the backdoor ROTH with fidelity as i dont hold any IRAs with them for FY 2019

However i do hold a traditional IRA at vanguard . As per fidelity i can still do a backdoor ROTH with them without any consequences. However i read somewhere that in order to do a backdoor ROTH you should not be holding a traditional IRA account anywhere. Is this understanding accurate and would it trigger any tax consequences/penalties if i do a backdoor ROTH at fidelity ?

Can someone please clarify ? Thanks in advance

BND .. although i reduced 50% exposure, its been falling like a knife since past few days ?
tried to sell BND short on another brokerage to cover the exposure in my 401K account and it wont let me ?
so whats a good hedge for BND or should i sell and move the rest of 50% in BND to money market since everything is falling even treasury funds

is that the only reason BND fell today. What seems to be the outlook for BND from here ?? my 401K allocation is going into it

Gold isn't any better than buying train cars full of coal. It throws off no dividends, triggers collectible taxes on gains when sold and goes up and down mostly based on when speculators get worried about the stock market. If you're going to buy a house, stay in cash. If you expect your cash is far more than you'll spend on a house, go into a 3 fund portfolio (see the wiki) and be done with it. Thanks for your imput. My question on this is given i have great credit and if lazy portfolios can easily provide a return of more than 6% over the years wouldnt it make sense to get a mortgage at 3-4% interest and also use that interest paid to reduce taxable income while filing or you think its better to buy the house outright in cash Dollar Hedge...