Search found 1499 matches

by Lastrun
Sat Mar 16, 2024 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 448
Views: 40680

Re: Long Term Care Insurance

My view of the issue with LTCI is that when you start to claim, it only provides short to intermediate term support for what could be a very long haul. .... As I mentioned, one set of parents had a policy that we exhausted. I have no idea what was paid over time for the policy but the parent who had gotten it years ago felt it was “even”, and was coming to the realization that lack of inflation adjustment on the $250K cap would go less far than when they originally purchased the policy. As noted, it did not provide long term support but gave us a couple of years to adjust things for longer term support. .... The broader issue is that healthcare in the US really only kicks in for LTC once you’re destitute. Depending where you are, the optio...
by Lastrun
Sat Mar 16, 2024 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 448
Views: 40680

Re: Long Term Care Insurance

Read this post: https://www.bogleheads.org/forum/viewtopic.php?p=7758691#p7758691 OK that was helpful, thanks, but could you give me an example of where this would be "unlimited" The example in that post was: A policy purchased today with $300K of benefits will grow to over $600K within 24 years because LTC Partnership policies have to include inflation protection of 3% compound (in most states). If it's a couple and they are sharing benefits (which most do) then the policy would have over $1.2M in benefits within 24 years. If the policy benefits were exhausted the policyholder could protect $1.2M in assets from Medicaid, including Medicaid estate recovery. Of course, if this couple had $5.0M in assets $3.8M might still be at ris...
by Lastrun
Sat Mar 16, 2024 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 448
Views: 40680

Re: Long Term Care Insurance

Read this post: https://www.bogleheads.org/forum/viewtopic.php?p=7758691#p7758691 OK that was helpful, thanks, but could you give me an example of where this would be "unlimited" The example in that post was: A policy purchased today with $300K of benefits will grow to over $600K within 24 years because LTC Partnership policies have to include inflation protection of 3% compound (in most states). If it's a couple and they are sharing benefits (which most do) then the policy would have over $1.2M in benefits within 24 years. If the policy benefits were exhausted the policyholder could protect $1.2M in assets from Medicaid, including Medicaid estate recovery. Of course, if this couple had $5.0M in assets $3.8M might still be at ris...
by Lastrun
Sat Mar 16, 2024 12:55 pm
Forum: Personal Consumer Issues
Topic: Mobile finance apps - do you use them?
Replies: 52
Views: 3988

Re: Mobile finance apps - do you use them?

I only have 1 bank app on my phone. No other financial appls. That is all I really need to unlock ATM and photo deposit an occasional check. I also have the Apple timeout on the app, so it needs a separate code after a minute or two. Not perfect but I don't keep a lot in that bank account, and by the time the perp figured out the login, it would re-lock.
by Lastrun
Sat Mar 16, 2024 11:50 am
Forum: Investing - Theory, News & General
Topic: Great news! No more [fixed real estate] agent commission
Replies: 163
Views: 15070

Re: Great news! No more [fixed real estate] agent commission

madbrain wrote: Sat Mar 16, 2024 7:53 am
Lastrun wrote: Sat Mar 16, 2024 7:31 am 1. Home prices will drop.
2. The 6 percent commission will cease to be the norm.
3. Steering — the practice of agents directing buyers to more expensive houses — will be less common.
4. About one million real estate agents could leave the profession.

Will item 1 occur?
Not likely they would drop more than 1-2%, best case. And home prices are going up more than that each year in many areas, so they would just go up a little less.
I agree, my question was a tiny bit rhetorical. I just don't see sellers dropping prices that much. I mean no Boglehead this weekend is going through their spreadsheets, aggregator programs, Quicken, etc. and reducing the value of their house for net worth purposes by 6% :D
by Lastrun
Sat Mar 16, 2024 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 448
Views: 40680

Re: Long Term Care Insurance

Questions from ignorance.
WoW2012 wrote: Sat Mar 16, 2024 10:36 am A well-designed long-term care partnership policy can protect 100% of one's assets even if the policy runs out of benefits.
When your policy runs out of benefits, you are on Medicaid?
WoW2012 wrote: Sat Mar 16, 2024 10:36 am A well-designed long-term care partnership policy can protect 100% of one's assets even if the policy runs out of benefits.
But I would need dollar for dollar coverage meaning any policy cap would have to equal or exceed the value of my assets?
WoW2012 wrote: Sat Mar 16, 2024 10:36 am In other words, a long-term care partnership policy provides an unlimited amount of care without being forced to spend down assets.
Assume I have a high amount of assets, similar to the question above, I would also need high coverage caps on the qualified partnership policy?
by Lastrun
Sat Mar 16, 2024 7:31 am
Forum: Investing - Theory, News & General
Topic: Great news! No more [fixed real estate] agent commission
Replies: 163
Views: 15070

Re: Great news! No more [fixed real estate] agent commission

A question. If I pay $400,000 for a home and the commission is 6%, 24,000. Is the home worth $400,000 or $376,000? Certainly, the county will tax it at $400,000, but the real estate commission does not add any value to the house! I posed a similar question above-----will seller's discount the sales price if commissions fall dramatically. I am a strong believer in the willing buyer/willing seller approach to value and don't think that most seller's are grossing up their purchase prices to account for the commission. Alternatively, and this was my question, are for-sale-by-owner sellers discounting their prices? I just don't know. I have seen this done in related party transactions, but there the market is not technically setting the price e...
by Lastrun
Sat Mar 16, 2024 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Quit claim deed has a lot of room for fraud
Replies: 28
Views: 3058

Re: Quit claim deed has a lot of room for fraud

.....Back in the country I am from, this kind of title transfer requires government identification for both grantor and grantee and official personal stamp validation, etc and the paper includes personal registration number (something like SSN) so that it cannot be confused with other person with the same name...... These suggestions, IMHO, are either not practical or not effective. Let's start with the proposition, that it is difficult to protect against the sophisticated actor, they are going to get in my house, into my computer systems, into my financial accounts, etc. despite all my efforts. So we are looking for something akin to a burglar alarm and locked doors, strong 2fa, or a credit freeze, to deter fraud. In other words, I cannot...
by Lastrun
Sat Mar 16, 2024 6:36 am
Forum: Personal Finance (Not Investing)
Topic: Quit claim deed has a lot of room for fraud
Replies: 28
Views: 3058

Re: Quit claim deed has a lot of room for fraud

eigenperson wrote: Sat Mar 16, 2024 6:25 am The real reason you don't see that many houses getting stolen, in either system, is that committing this kind of fraud requires someone to actually appear in person to commit it.
Just an FYI, in my county almost all real estate deeds filed by professionals, title companies, lawyers, lenders, are filed online and not in person. Here is an example of a service used by counties. https://www.icemortgagetechnology.com/p ... ng-network.

But I agree with you, this is not an easy fast moving fraud, more likely used for mortgage fraud, and then it is the lenders issue as noted above.
by Lastrun
Sat Mar 16, 2024 6:30 am
Forum: Investing - Theory, News & General
Topic: Great news! No more [fixed real estate] agent commission
Replies: 163
Views: 15070

Re: Great news! No more agent commission

Does this mean there is less of an incentive now to buy a home without an agent? I was thinking of doing this by talking directly with the building company. I think the answer here is yes. For the past couple of decades, the seller paid for the buyer's agent. That will largely go away as buyer's will not see as much value in full buyer's agent representation, and when it is coming out of the buyer's pocket...... Hence, the post above about having it added on the buyer's side on the loan. It will be interesting to watch. The seller has never paid for the buyer's agent. That was all a scam perpetuated by NAR. The buyer has always paid the full commission for both sides. Just because the closing sheet shows the commission coming out of the se...
by Lastrun
Sat Mar 16, 2024 6:12 am
Forum: Personal Consumer Issues
Topic: Suggestions around Dulles-IAD Arrival
Replies: 14
Views: 1378

Re: Suggestions around Dulles-IAD Arrival

Just a couple of random thoughts from an IAD/DCA/BWI flyer (in that order).

I think I would just bite the bullet and head to Ellicott City and figure transportation from there, for these reasons:

1. Traffic should be lighter at that time of night. That portion of the beltway is probably the worst section, but should be fairly clear at approx. 10pm, but nothing is guaranteed on the beltway. The traffic situation (if you stay at IAD) the next day may not be favorable.

2. You will be on European time, no? Travel days stink for sure, but suck it up and get to the final destination.

3. Customs should also not be too crazy at that time of night. The heavier TATL bank load at Dulles is in the early afternoon.

Safe travels!
by Lastrun
Fri Mar 15, 2024 2:40 pm
Forum: Investing - Theory, News & General
Topic: Great news! No more [fixed real estate] agent commission
Replies: 163
Views: 15070

Re: Great news! No more agent commission

Bogle-007 wrote: Fri Mar 15, 2024 2:24 pm Does this mean there is less of an incentive now to buy a home without an agent? I was thinking of doing this by talking directly with the building company.
I think the answer here is yes. For the past couple of decades, the seller paid for the buyer's agent. That will largely go away as buyer's will not see as much value in full buyer's agent representation, and when it is coming out of the buyer's pocket...... Hence, the post above about having it added on the buyer's side on the loan.

It will be interesting to watch.
by Lastrun
Tue Mar 12, 2024 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

tj wrote: Tue Mar 12, 2024 3:11 pm Interesting. On the PR, I have 1508 points. Mine says 2500 points is minimum to redeem on that card.

I don't have any charges yet on my PR this statement period, but I'm surprised that it would include the pending points in your total available points.
Yes, this is a difference between the PR and the PRE---redeem at any time and no minimum. Whether this is a valuable benefit....
by Lastrun
Tue Mar 12, 2024 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

That's weird, as it absolutely shows pending points on mine. First, I have PRE and Platinum Honors OK, let's do a test, so when I login and go to the PRE account, under account summary I see this: Rewards Total Points: 1,328 Points Go to Rewards View/Redeem Note, my statement just closed and I redeemed all my points (I do not use auto-redemption). So I am 4 days into my new monthly cycle. When I click View/Redeem (which is an active link) it takes me to the redemption page: In the middle of that page I see: Total Available Points 1,328 [with two options] Redeem Points Transfer Points I then click and it gives me Travel, Cash, Gift Card or Full-service Concierge as options I click Cash-Redeem It asks me to chose my redemption option-I selec...
by Lastrun
Tue Mar 12, 2024 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Locums life and South Dakota residency?
Replies: 15
Views: 1249

Re: Locums life and South Dakota residency?

The issue isn't South Dakota. If they had taxes they would happily take your money. The issue is whether Massachusetts will take the position that you're still taxable as a resident. This is the key, Mass. Residency is largely mathematical in terms of presence based on days in the jurisdiction. Admittedly, it has been a while since I looked at this but my recollection is that if one does not have physical presence (183 days) in any jurisdiction, the nightmare of a facts and circumstances test applies. This is where you get into things like family, job, ownership of real estate, voting, driver's license, car registrations, clubs, banking, etc. Abandonment is another concept here and you need to effectively abandon Mass domicile. Be careful ...
by Lastrun
Tue Mar 12, 2024 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

tj wrote: Tue Mar 12, 2024 10:21 am I don't know that, but I would have to guess that if it's not showing up while it's pending, it would be after the purchase posts. I'm pretty sure that it doesn't wait for the monthly statement. The points will show as pending in the rewards section.
At least based on my experience, the points show up and may be redeemed immediately, and you do not need to wait until the end of the statement cycle. I don't keep a lot in my BofA checking, and sometimes need to Zelle someone, so I will redeem mid-cycle to top off the account.
by Lastrun
Tue Mar 12, 2024 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

tj wrote: Tue Mar 12, 2024 9:38 am
E.G.:

BASE: ABCDEFG CAFE -$0.25
CATEGORY BONUS: for dining purchase - $0.51
RELATIONSHIP BONUS: Preferred Rewards - 75% Bonus - $0.57
Thanks tj, I was too myopic in my answer. It does not display under the banner on the first page of the Rewards tab, but as you lay out, both deeper down and in the same manner on the statement.
by Lastrun
Tue Mar 12, 2024 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Locums life and South Dakota residency?
Replies: 15
Views: 1249

Re: Locums life and South Dakota residency?

The issue isn't South Dakota. If they had taxes they would happily take your money. The issue is whether Massachusetts will take the position that you're still taxable as a resident. This is the key, Mass. Residency is largely mathematical in terms of presence based on days in the jurisdiction. Admittedly, it has been a while since I looked at this but my recollection is that if one does not have physical presence (183 days) in any jurisdiction, the nightmare of a facts and circumstances test applies. This is where you get into things like family, job, ownership of real estate, voting, driver's license, car registrations, clubs, banking, etc. Abandonment is another concept here and you need to effectively abandon Mass domicile.
by Lastrun
Tue Mar 12, 2024 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

terran wrote: Tue Mar 12, 2024 7:04 am Does anyone know if the "You’re earning unlimited 1.5% cash back on all purchases" under the credit card rewards tab should update to reflect the preferred rewards bonus, or does it always say that and you just get the preferred rewards bonus on top of that?

I think the answer is no, I am platinum level with a PRE and mine says this:
Earn unlimited points that don't expire

2 points per $1 on Travel & Dining

1.5 points per $1 on Everything Else

Preferred Rewards members earn up to
75% more Points with every purchase.
by Lastrun
Mon Mar 11, 2024 11:53 am
Forum: Personal Finance (Not Investing)
Topic: What's your primary credit card?
Replies: 117
Views: 10239

Re: What's your primary credit card?

jeffyscott wrote: Mon Mar 11, 2024 8:33 am IIRC, Wells has to be increments of $25.
Yes for cash redemption, no such limit for statement credits. $1

Agree Fidelity is the best of the 2% bunch. Also forgot to mention PayPal 2% card for those that are in that ecosystem.
by Lastrun
Mon Mar 11, 2024 7:39 am
Forum: Personal Finance (Not Investing)
Topic: What's your primary credit card?
Replies: 117
Views: 10239

Re: What's your primary credit card?

I'm looking to make a switch to Discover and get at least a little something back. You? When you say you want to "get at least a little something back" I assume you are not getting any cash back or points benefits on your current card? That said, I look at credit cards with some basic principles (that I think are Bogleheadish). They are no hoops, no caps, no rotating categories, no portals, low or no annual fees, etc. So simple to use, no-frills and low-no cost. As other posters have said, everyone should at least have a 2% cashback card to use for daily expenses. These would be: 1. Fidelity Visa 2. Citi Double Cash 3. Wells Fargo Active Cash Of these Fidelity is the best in class since they eliminated the foreign transaction fee...
by Lastrun
Sun Mar 10, 2024 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America Outbound ACH Fee now zero!
Replies: 22
Views: 2006

Re: Bank of America Outbound ACH Fee now zero!

The fee was always silly to me because you could:

1. Pull from the other side without a fee
2. Transfer the money to Merrill and push without a fee
3. Zelle smaller amounts under $5,000
4. Write a check on BofA and photo deposit it in the other account.

Just another way of making money, glad its gone.

I do have sympathy for the folks that bank at these big banks without a lot of money and a steady job, seems like they get hit a lot with fees, and the reloadable debit card stuff that some places have (like Walmart) are even worse.
by Lastrun
Sun Mar 10, 2024 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America Outbound ACH Fee now zero!
Replies: 22
Views: 2006

Re: Bank of America Outbound ACH Fee now zero!

SmileyFace wrote: Sun Mar 10, 2024 1:41 pm I wonder how much you have paid in fees over the years?
I know they have paid me thousands, actually well into 5 figures, in transfer bonuses and increased credit card category cash back, for having a small amount of VXUS at Merrill Edge, and a brick and mortar checking account I would have anyway.
by Lastrun
Sun Mar 10, 2024 3:44 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 457
Views: 61793

Re: Vanguard Cash Plus Account

Why would someone put their savings into a 4.7% cash savings account when they could put it into a 5.3% MMF? I think the answer is you cannot ACH out of the brokerage account to pay bills. So Cash Plus offers a decent solution for Vanguard folks. That, to me, was the allure of the Cash Plus account, that while my money was waiting to be drawn by my credit card pulls, I would be earning 4.7% interest. But around 85% of my monthly expenses are on my BofA card, so its just easier to do a VG brokerage>>>Ally Savings>>>Bill pay at this point. Except you are not getting interest for two days during the transfer and then you have to do another transfer from Savings to Checking for the Bill Pay. I have been this and CP, since CP does not work with...
by Lastrun
Sun Mar 10, 2024 8:43 am
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 457
Views: 61793

Re: Vanguard Cash Plus Account

pascalwager wrote: Sun Mar 10, 2024 12:17 am Why would someone put their savings into a 4.7% cash savings account when they could put it into a 5.3% MMF?
I think the answer is you cannot ACH out of the brokerage account to pay bills. So Cash Plus offers a decent solution for Vanguard folks.

That, to me, was the allure of the Cash Plus account, that while my money was waiting to be drawn by my credit card pulls, I would be earning 4.7% interest. But around 85% of my monthly expenses are on my BofA card, so its just easier to do a VG brokerage>>>Ally Savings>>>Bill pay at this point.
by Lastrun
Sat Mar 09, 2024 1:56 pm
Forum: Investing - Theory, News & General
Topic: Money Market or VUSXX
Replies: 18
Views: 1788

Re: Money Market or VUSXX

investing123 wrote: Sat Mar 09, 2024 12:52 pm ...... This is just a part of the 30% target of my 70/30 goal.
What is this 70/30 goal?

If this essentially 70% stocks, 30% bonds?

When do you plan to use/need the $100K. 1 year, 5 years, retirement?

You can keep it in a MMF, and VUSXX is one of the best and simplest approaches.

With CDs you will lock in the rate, but 5 year CDs are paying around 4.5% right now per the Deposit Accounts website, and the liquidity issue was mentioned.
by Lastrun
Sat Mar 09, 2024 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Pralana Gold moving to web-based subscription
Replies: 12
Views: 2230

Re: Pralana Gold moving to web-based subscription

Just got an email, delayed until May, sigh. But it is important to get it right. Appreciate the update and honesty.
by Lastrun
Fri Mar 08, 2024 2:52 pm
Forum: Investing - Theory, News & General
Topic: Why is Vanguard so bullish on international exposure in their all-in-one funds?
Replies: 77
Views: 6561

Re: Why is FIDELITY so bullish on international exposure in their all-in-one funds?

arcticpineapplecorp. wrote: Fri Mar 08, 2024 2:31 pm
I don't understand why you call out Vanguard when your own example shows FIDELITY as the "worst offender" (if you are determining a higher allocation to international as an offense).

Shouldn't your post be Why is FIDELITY so bullish on international exposure in their all-in-one funds?
.....
Actually, with market cap where it is, and for example the Morningstar 2060 Index being at 41% international (the way the OP is presumably calculating it), the theoretical question should really be why the other funds show so much home bias?
by Lastrun
Fri Mar 08, 2024 12:30 pm
Forum: Personal Investments
Topic: Fidelity advice
Replies: 67
Views: 8019

Re: Fidelity advice

Very interesting. I think the calls are legit (but you should verify). You said you are a "qualified investor" which makes you particularly enticing prey for those "wealth managers" who do this sort of thing. As I understand it, you have money and have indicated at least the possibility that you might entertain some of the more risky investment schemes. That's why you are getting these calls. They plan to make a lot of money off of you. Frankly, you are fresh meat and the vultures are circling. I tend to agree with this post, its legit, but always rule out fraud. I am not familiar with the term "qualified investor" but am with the term "qualified purchaser" which is a higher level ($5,000,000) than j...
by Lastrun
Fri Mar 08, 2024 7:46 am
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 457
Views: 61793

Re: Vanguard Cash Plus Account

manlymatt83 wrote: Thu Mar 07, 2024 9:17 pm I have a Vanguard cash plus account from about six months ago. Frankly, I’ve had about $20 sitting in it and haven’t really touched it.

Recently came into some cash and want a place to put it. Forgive me for not reading through this whole thread, but is there a way that I can have it put into VUSXX while still making it liquid with the routing and account number? If so, where do I go to change that setting?
If still making it liquid means that it is immediately available from VUSXX via ACH withdrawal for bill payment, etc., no, you need to sell VUSXX first in Cash Plus and my experience was one day before availability. Someone please correct this if it is wrong.
by Lastrun
Fri Mar 08, 2024 7:30 am
Forum: Personal Finance (Not Investing)
Topic: HELP! Need Credit Card Advice for Young Adult
Replies: 14
Views: 934

Re: HELP! Need Credit Card Advice for Young Adult

The site suggested above are good. To keep it simple, I would suggest start with one that gives a straight 2% cash back. For example Citi Double Cash or Wells Fargo Active Cash. I agree with this post. A good 2% card is a must. I would try not to have too many cards, chase bonuses, 5% categories, etc. This is a recipe for trouble-missed payment, possible interest charges, late fees, etc. At your age, and my assumed spend level for you at your age, and extra percent on spending in a category will likely not make much of a difference, as compared to an annual fee, late fee, or interest due to not paying a balance in full. Credit cards are very idiosyncratic in my opinion. For example a young person that travels a lot internationally may be b...
by Lastrun
Fri Mar 08, 2024 7:07 am
Forum: Personal Finance (Not Investing)
Topic: What would you have done differently if you could go back and restart your financial journey?
Replies: 68
Views: 5596

Re: What would you have done differently if you could go back and restart your financial journey?

I saved too little early on, and invested too conservatively for my age, but it did not make a difference as I am enjoying a very comfortable retirement because I have been blessed (aka lucky) in business-now I still worked hard and have three degrees but I still consider myself financially blessed.
by Lastrun
Thu Mar 07, 2024 10:38 am
Forum: Personal Finance (Not Investing)
Topic: How to Estimate Return Rates for Retirement Planning
Replies: 67
Views: 6023

Re: How to Estimate Return Rates for Retirement Planning

How about using a tool that uses actual historical data instead of guessing? That's what I did. Ficalc.app is one such tool. Sequence of returns matters. I have also looked at Fire calc. All the various tools I've tried have pros & cons. Right now the tool I'm trying out is new retirement and that is the one that asks you to input optimistic and pessimistic return estimates. I have also used the fidelity tool which I believe gets its estimates by analyzing your portfolio holdings. One of the approaches I took in New Retirement was to use the software's allowance for multiple scenarios and name the scenarios after the return assumptions. So as an example, I have one for historical and one for estimated. Realize that NewRetirement will a...
by Lastrun
Thu Mar 07, 2024 9:45 am
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6469

Re: Fidelity and Bank of America data lost in Infosys breach

mrmass wrote: Thu Mar 07, 2024 9:13 am I'm not convinced the businesses in item 1 commit enough resources to IT/Cyber security and internal controls.
Funny you should say that, my original draft for item 1 had “and they cannot spend enough on it” but I deleted it thinking about cost-benefit concerns.
by Lastrun
Thu Mar 07, 2024 9:06 am
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6469

Re: Fidelity and Bank of America data lost in Infosys breach

lazynovice wrote: Thu Mar 07, 2024 8:13 am
It absolutely is part of doing business these days. Businesses carry insurance for it. .....
I look at this two ways and I might be in the minority:

1. There are businesses, such as financial institutions and medical insurers, where security is paramount and breaches should be rare and exceptional events.

2. There are businesses, such as Lastpass or SolarWinds, where security is the sole reason for the existence of the business. This is a 0% policy to me.
by Lastrun
Thu Mar 07, 2024 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Online savings account options
Replies: 11
Views: 923

Re: Online savings account options

I think folks are referring you to VMFXX which is the Vanguard money market fund that is the default settlement account with a Vanguard brokerage account. It pays that much in interest currently. It is a money market fund, so it is not FDIC insured like the Cash Plus account (or another online savings account at a a bank) is, but is still safe and is what they call a government money market fund, meaning they cannot impose fees or liquidity dates on the fund. But again, it is not FDIC insured if that is something you desire. Personally, I move my savings around to whatever is paying the best, Vanguard, my online bank, or short-term US treasuries, and also look at the convenience factor. Currently most of my savings is in my Vanguard settlem...
by Lastrun
Thu Mar 07, 2024 7:02 am
Forum: Personal Investments
Topic: Retirement Planning - Target Date Funds
Replies: 18
Views: 1848

Re: Retirement Planning - Target Date Funds

My DW is young and we run a two fund portfolio for her, a target date fund and a total stock fund. The total stock fund is used to dilute the bonds, primarily, but also dilutes her international stock allocation, something that is also consistent with her investing objectives of a US stock home bias.

Pretty easy to manage across accounts (she has total stock in taxable as well) and she rebalances it once a year.

Honestly, a three fund is probably just as easy to manage, because when she rebalances she has to "pull apart" the target date fund to compute the percentages by asset class. Not a big deal, but a three fund could be argued to be simpler to rebalance for the spreadsheet adverse.
by Lastrun
Thu Mar 07, 2024 6:41 am
Forum: Investing - Theory, News & General
Topic: Fidelity and Bank of America data lost in Infosys breach
Replies: 57
Views: 6469

Re: Fidelity and Bank of America data lost in Infosys breach

Thanks OP for the heads up. I suspect this is just part of doing business these days. Amex also had a breach this week.
by Lastrun
Wed Mar 06, 2024 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Fraud [Credit Card application]
Replies: 12
Views: 1827

Re: Fraud [Credit Card application]

life in slices wrote: Wed Mar 06, 2024 7:06 pm This was a good thread on BH a few years ago:
viewtopic.php?t=336831

In addition to the big three, put freezes at Innovis and Chex systems

Good resource here
https://krebsonsecurity.com/2020/08/why ... your-flag/
Innovis cannot be done online—-who uses them? Anybody know?
by Lastrun
Wed Mar 06, 2024 1:55 pm
Forum: Personal Investments
Topic: Fidelity Calls from "Palumbo Wealth Management Team"
Replies: 37
Views: 3500

Re: Fidelity Calls from "Palumbo Wealth Management Team"

I'm at the point where I only receive a call or email from Fidelity wanting to "check up on me" about once a year or so. - I never reply to the emails - I don't answer the phone anyway, so there's no way they could ever pressure me to do anything. Years ago it was really frequent - but as I've ignored them over time, it's become less and less frequent. Cheers. Ditto. This is the best strategy, really. I also never answer any phone call unless I know the caller. Never. You do know caller ID is unreliable because it can be spoofed, right? Yeah, but I am not sure where you are headed? I get a call from 212-555-1212 which assume is correctly my 90-year old mom's line. I am not supposed to answer it because it could be spoofed? I get ...
by Lastrun
Tue Mar 05, 2024 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 7203
Views: 1413469

Re: What's Your Credit Card Rewards Strategy?

I’m sorry not to be clear tj, yes that one. It is fairly well-moderated and they have post templates, similar to “asking portfolio questions” here, that you can use to get “next card” recommendations.
by Lastrun
Tue Mar 05, 2024 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 7203
Views: 1413469

Re: What's Your Credit Card Rewards Strategy?

Just the regular credit card thread.
by Lastrun
Tue Mar 05, 2024 6:37 pm
Forum: Personal Investments
Topic: Ally Bank GST-Exempt Trust - All funds are visible to grantor
Replies: 2
Views: 350

Re: Ally Bank GST-Exempt Trust - All funds are visible to grantor

Well, if it is taxable as a grantor trust it is indeed taxable back to him for federal income tax purposes.

But I understand the concern.

As an FYI, I am the grantor of an irrevocable trust at Vanguard and my wife is trustee---it does not show up under my login.
by Lastrun
Tue Mar 05, 2024 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 7203
Views: 1413469

Re: What's Your Credit Card Rewards Strategy?

EnjoyIt wrote: Tue Mar 05, 2024 6:00 pm
I’m going to teach you how to fish.

https://www.doctorofcredit.com/best-cur ... n-bonuses/
Actually, the Reddit Credit Card forum is pretty good, when you sort the wheat from the chaff there are some decent posters over there.

This area, churning, bonuses, etc. as well as FICO score issues, are not a strong point of this forum IMHO.
by Lastrun
Tue Mar 05, 2024 12:51 pm
Forum: Investing - Theory, News & General
Topic: What if you can't access your money?
Replies: 45
Views: 4215

Re: What if you can't access your money?

Right, this really goes down hill fast to the prepper portfolio---equal parts guns, ammo, food, potable water.

The more interesting scenario to me is the true "one-stop shop" person, who loses access to financial accounts while the world keeps chugging along. Highly unlikely, but in this age of fraud and identity theft, the chances of a full-scale shutdown (legitimately by the providers) of one's credit and cash accounts is increasing IMHO. But this would likely be a short-term problem.
by Lastrun
Tue Mar 05, 2024 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Credit scores available in multiple apps/services. Upsides/downsides to granting permission?
Replies: 1
Views: 269

Re: Credit scores available in multiple apps/services. Upsides/downsides to granting permission?

I would be much more afraid (magnitudes) of giving my credentials to a finance tracking app, as compared to allowing one of the banking services to access my credit score. Multitudes of companies are doing sales inquiries on your credit info annually, so while sensitive, I view that info as less critical and protected than direct financial institution information access.
by Lastrun
Tue Mar 05, 2024 7:48 am
Forum: Personal Investments
Topic: Fidelity Calls from "Palumbo Wealth Management Team"
Replies: 37
Views: 3500

Re: Fidelity Calls from "Palumbo Wealth Management Team"

Seems like something like this does exists, and not with Fidelity: https://palumbowm.com/who-we-are/
Great Neck, NY

Wiggums is also correct, there is a Palumbo at Fidelity in Dallas area/

Question, does Fidelity have an Advisor Source service line like Schwab?
by Lastrun
Sun Mar 03, 2024 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

rustlers wrote: Sun Mar 03, 2024 3:02 am Then maybe you should do the setup I have.
Fidelity is primary brokerage, MMF, IRA, DAF, HSA and bill pay etc. Currently best provider IMO.
Use Vanguard and Ally, works fine for me. I am not an auto-liquidator, so this takes some of the punch out of Fidelity.

As I said, I may end up there for other reasons than the typical one-stop reasons.
by Lastrun
Sat Mar 02, 2024 2:30 pm
Forum: Investing - Theory, News & General
Topic: Why is 60/40 the benchmark?
Replies: 25
Views: 3364

Re: Why is 60/40 the benchmark

gavinsiu wrote: Sat Mar 02, 2024 2:01 pm I recall when Bernstein demonstrated the efficient frontier, it shown that 60/40 as the efficient point of the efficient frontier where return and stdev balance.
Bill or Peter?

Here is an old article of inerest: https://www.safalniveshak.com/wp-conte ... Y2fQ%3D%3D
by Lastrun
Sat Mar 02, 2024 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878735

Re: Bank of America/Merrill Edge - Preferred Rewards

Thanks Boston10 for the detailed reply, nothing but agreement here. I will probably end up at Fidelity, but ME/BofA has been good to me, and not just in terms of credit card stuff. But to me they are not a good set up for cash and bill pay, but rather a good place to maximize credit card rewards and brick and mortar services.