Search found 6568 matches

by cherijoh
Sun Jul 19, 2020 8:40 am
Forum: Investing - Theory, News & General
Topic: ??? about Jack's Don't Count on it! book
Replies: 3
Views: 765

Re: ??? about Jack's Don't Count on it! book

RadAudit wrote: Sun Jul 19, 2020 8:14 am
BeachPerson wrote: Sun Jul 19, 2020 7:19 am Unsurprisingly, after the fall, in the October 2002 issue of Money there were only four funds that did so.
Don't know. How about four equity funds that advertised their performance? That might fit. Why pay good money to remind you that they lost ~80% of your money? Heck, you already know what their stock picking did for you.
I agree. That is the logical conclusion.
by cherijoh
Mon Jul 06, 2020 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Manager vs. Direct report salary issues
Replies: 155
Views: 23100

Re: Manager vs. Direct report salary issues

By the way, I see everyone in this thread using IC or individual contributor as common lingo. I've never heard that term before. Is it common in certain fields? A new buzzword? Admittedly I work in government now... I think it is quite common in STEM (Science, Technology, Englineering, and Mathematics) fields and has been for some time. (I'm retired from a STEM-related career and know it was in use at least 25 years ago). It may only apply to people with some minimum level of experience where you might be asked "where do you see yourself in 5 years?" The binary answer would be management OR individual contributor. Thanks. I'm in the government aerospace field - certainly we have the concept of line management, technical managemen...
by cherijoh
Mon Jul 06, 2020 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax: IRS Penalty for Underpayment of Estimated Tax
Replies: 5
Views: 510

Re: Turbo Tax: IRS Penalty for Underpayment of Estimated Tax

Housedoc wrote: Mon Jul 06, 2020 4:25 pm Good luck but it's your job to review withholding regularly.
+1
by cherijoh
Sat Jul 04, 2020 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Manager vs. Direct report salary issues
Replies: 155
Views: 23100

Re: Manager vs. Direct report salary issues

dukeblue219 wrote: Sat Jul 04, 2020 8:10 am By the way, I see everyone in this thread using IC or individual contributor as common lingo. I've never heard that term before. Is it common in certain fields? A new buzzword? Admittedly I work in government now...
I think it is quite common in STEM (Science, Technology, Englineering, and Mathematics) fields and has been for some time. (I'm retired from a STEM-related career and know it was in use at least 25 years ago). It may only apply to people with some minimum level of experience where you might be asked "where do you see yourself in 5 years?" The binary answer would be management OR individual contributor.
by cherijoh
Sat Jul 04, 2020 7:05 pm
Forum: Personal Investments
Topic: The boring accumulation phase with an average salary
Replies: 26
Views: 4570

Re: The boring accumulation phase with an average salary

Emergency funds: One month expenses (~$5000) in checking, 4 months in a HYSA <-- I would aim to beef this up a bit Debt: $170,000 mortgage @ 3.00% just refinanced. Home value $255,000, payoff July 2050 Tax Filing Status: MFJ with a young child Tax Rate: 12% Federal, 3% State State of Residence: Pennsylvania Age: Early 40s Desired Asset allocation: 85% stocks / 15% bonds (too risky with 15-20 years left working?) Desired International allocation: 30% of stocks (too high?) Current Portfolio: $415,000 Current retirement assets My 401k 4.7% Vanguard Institutional Index Instl (VINIX) (ER 0.04%) Company match? Normally 50% on the first 8%, due to COVID was lowered to 50% on first 2% for the rest of 2020 My tIRA at Vanguard 4.9% Vanguard Total Bo...
by cherijoh
Sat Jul 04, 2020 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Lender is asking for 5 months of Property Taxes and Homeowner's Insurance. Is this normal?
Replies: 28
Views: 3623

Re: Lender is asking for 5 months of Property Taxes and Homeowner's Insurance. Is this normal?

Since property taxes are typically paid three months at a time, this does not seem unreasonable at all. You will find that there is a lot of latency and slop in the operations of mortgage servicers. It's actually good for you that they are certain to have the money on hand for THEM to fulfill YOUR obligations. Our state property taxes are due every 6 months, or two times per year. Regardless, I remain amazed that some/many Bogleheads have escrow accounts for taxes and insurance. Why not pay the bills yourself when due? If an escrow is required by the 'bank', find a new lender that allows you to keep your own money in your own bank account. If you aren't putting a 20% down payment you might have trouble finding a lender that doesn't require...
by cherijoh
Sat Jul 04, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Lender is asking for 5 months of Property Taxes and Homeowner's Insurance. Is this normal?
Replies: 28
Views: 3623

Re: Lender is asking for 5 months of Property Taxes and Homeowner's Insurance. Is this normal?

Hello Bogleheads, My bank is asking for 5 months of property taxes and insurance on our closing. We've been reading that it is typically 2 months for both. We're at the Final Disclosure stage and this number just seems STAGGERING. Any advice? Best, YWC If this amount is staggering, then it doesn't sound like you are quite financially prepared to buy this house from a cash flow perspective. I think you may have been confused by how much of a cushion a mortgage lender is allowed to keep (that is 2 months) and what happens when you buy a house in the middle of the year and actually have bills that need to be paid out of escrow before you have been in the house for very long. For example if you were paying taxes and insurance out of escrow on ...
by cherijoh
Sat Jun 20, 2020 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Disappointed in Fidelity 2% Cash Back credit card
Replies: 221
Views: 23451

Re: Disappointed in Fidelity 2% Cash Back credit card

F150HD wrote: Sat Jun 20, 2020 10:26 am makes one wonder if the cash earned is taxable in some form if the amount is significant.

If one sets the cash to dump into a Fido brokerage account, does this show up on anyone's annual 1099 in a quirky way? there would have to be interest income to account for etc.
I think credit card cash back (even bonus cash) is considered a "rebate" and therefore not taxable. Bonus cash for opening a checking or savings account is considered taxable.

I don't have the CC in question, but I do have my BofA cash back transferred to my BofA checking account. The amount is well over the $10 limit that would trigger a 1099-INT, but I haven'y gotten a 1099 from them in years.
by cherijoh
Sun Jun 07, 2020 1:21 pm
Forum: Personal Investments
Topic: Once bitten twice shy
Replies: 14
Views: 2665

Re: Once bitten twice shy

White Coat Investor wrote: Sun Jun 07, 2020 10:06 am
livesoft wrote: Sun Jun 07, 2020 10:01 am I think it is a great fund for you.
Agreed. Note that the pension allows you to take on more risk than you otherwise could, but also lowers your need to take risk. Of course, neither of those trump your ability to take risk.
Did you mean "...neither of those trumps your willingness to take risk"? You already mentioned that the OP was able to take risk because of the pension.
by cherijoh
Fri Jun 05, 2020 2:50 pm
Forum: Personal Investments
Topic: Considering Big 401K Withdrawal
Replies: 7
Views: 881

Re: Considering Big 401K Withdrawal

bloom2708 wrote: Fri Jun 05, 2020 2:26 pm I would rent for 1 year.

Doesn't sound like a good time to make big decisions and an expensive house/big mortgage might not be a great idea if you are retired/close to being retired.

Let things simmer and maybe some different clarity will come.
+1

What ties you to your HCOL area? I would also suggest finding someplace to rent while you figure it out.
by cherijoh
Fri Jun 05, 2020 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4560

Re: Just Fired - Pension and HSA questions

This happened with my wife's great Fidelity 401k where she had left a decade earlier. January 2nd came around and we checked the page. There was a nice, shiny, new 0.5% administration fee that the employer decided to let us take care of. It was rolled to an IRA in less than a week. Where did you see this? My wife has a good Fidelity plan that we'll probably leave where it is whenever she no longer works at her current employer, so we'll need to keep an eye on this. Fidelity is only the administrator, the employer controls the fee structure. The plan may be set up so that the company pays the fees for employees, but former employees pay their own way OR the company can decide that fees it had been covering will now be paid by all participan...
by cherijoh
Fri Jun 05, 2020 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4560

Re: Just Fired - Pension and HSA questions

Not FIRE but let go :? I have a couple of Pension and HSA questions: - I plan on rolling my pension into my 401k. My 401k is both Tax deferred and ROTH. Can I roll the pension into the ROTH portion of my 401k? - If so, how do I get taxed and would this be considered ordinary income? - The pension is about 90k. Can I roll the whole amount or do 401k contribution limits apply? - I have high deductible medical coverage with an HSA. Should I continue to contribute to my HSA with post-tax dollars? Thanks, Val. Since you are talking about your 401k, I doubt anyone here can give you a definitive answer. The ERISA rules outline what can legally be done, but don't require employer plans to offer all the possible options. You need to read the summar...
by cherijoh
Mon Jun 01, 2020 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Another Round Retirement Plan
Replies: 60
Views: 5164

Re: Another Round Retirement Plan

Ok I’m going to start another thread about how much we will need to retire. Looks like we are going to fall short because of the possibility of 1 SS because one of us will outlive each other. For instance my dad passed away at 75 last August and my mom is getting his SS not hers because my dads was the greater of the 2. Here it goes. EXPENSES Living expenses; this will be expenses as if we retired today includes every living expense + retirement healthcare $36k today’s dollars(3% / year for 14 years)> $55 year 2034 Discretionary spending $20k today’s dollars(3% / year for 14 years) > $30k year 2034 Taxes: future dollars approx $13k TOTAL $98k future dollars year 2034 INCOME Pension $21k at age 67 SS Me $26k today’s dollars(2% year for 14 y...
by cherijoh
Mon Jun 01, 2020 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Chase reducing credit card limits
Replies: 141
Views: 18198

Re: Chase reducing credit card limits

I received a similar letter from Chase the other day saying they were going to lower my limit on my SWA cc - was somewhat surprised as I do use this card each month for a minor subscription charge (Netflix) to keep credit fresh. Don't really need the extra credit but enjoy having plenty of available and have a very high credit score (840), so I'm puzzled about why they suddenly made the change. Might leave a negative review the next time I'm asked to review one of their products, as this is not really a positive customer experience between Chase and me and would warn others before selecting them for credit. If you aren't using the credit, IMO giving them a low customer experience rating for this seems rather petty. I leave low ratings for ...
by cherijoh
Mon Jun 01, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Chase reducing credit card limits
Replies: 141
Views: 18198

Re: Chase reducing credit card limits

I recently received a similar letter from Chase. I never carry a balance on any credit card, ever. Credit score in the high 800s. Recently I purchased replacement windows for the whole house and used the Chase card. The cash back feature helped to pay for a couple of the smaller windows. I assumed Chase had figured out that they were paying me (over years) to hold their card as I had paid no interest to them. While disappointing, I have other cards with a higher limit and will use them instead when needed. My thought was what does the Chase action do to my credit score since it was my oldest card and with a high limit? I'm pretty sure age of card is a totally separate metric than credit utilization. (IOW, I don't think it is a dollar-weigh...
by cherijoh
Mon Jun 01, 2020 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Chase reducing credit card limits
Replies: 141
Views: 18198

Re: Chase reducing credit card limits

I have a Chase Freedom card and recently received a letter from Chase that states I have spent far below my available credit limit over the last 12 months and as a result will see a reduction to my limit by over 50% in 30 days. The reduction is quite drastic... from nearly $40K to the low teens. This will reduce my total aggregate credit card limit by over 15%. My score has remained in the low 800's for years and I have never received a credit card limit reduction in my life; I assume this is related to the pandemic. Has anyone else received letters that their limits will be reduced? Funny you should ask - I just got a letter from Chase today saying they were lowering mine by exactly 50%. My original limit was below $20K to start with. I h...
by cherijoh
Sun May 31, 2020 9:44 am
Forum: Personal Investments
Topic: Roth IRA for a minor child?
Replies: 40
Views: 2795

Re: Roth IRA for a minor child?

It is extremely rare for a teenager to be able to be properly classified as an independent contractor. They can almost never be considered to have the Behavioral Control, Financial Control and Relationship of the Parties necessary. Without getting into the definition of rare here, would teenagers who - advertise themselves as lawn mowers for hire in the local paper, or - referee soccer (or other) games for pay be properly classified as independent contractors? With respect to referreeing for some kind of league, I would expect that to be considered 1099-MISC income. I am not a tax-professional, but was treasurer for a local chapter of a national professional organization and was responsible for arranging payments to service vendors. The gr...
by cherijoh
Sat May 30, 2020 1:19 pm
Forum: Personal Investments
Topic: Leaving Employer; convert 401k balance to new 401k or roth IRA?
Replies: 11
Views: 967

Re: Leaving Employer; convert 401k balance to new 401k or roth IRA?

Hello Bogleheads! My wife (33) is leaving her employer and has a 401k balance of approx. $65k. It seems she has the option to transfer her existing 401k balance to a traditional IRA, roth IRA, or new employer's 401k plan. We do the backdoor Roth IRA every year so traditional IRA is not the ideal account IMO. Thus, i think we are left with two choices: 1. Transfer existing 401k balance to Roth IRA (and pay taxes) 2. Transfer existing 401k balance to the new 401k plan (and do not pay taxes) With option 1, I estimate that we'd have to pay approximately $15k extra in taxes based upon calculation on the IRS withholding website and where I think we'd end up w/r/t tax bracket. This is not the biggest deal, but, obviously still need to fork over $...
by cherijoh
Sat May 30, 2020 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 152
Views: 15153

Re: Simple jobs during FATFire?

Me and SO should be on track to FATFire around 45-50. However, I don't want to just sit at home at this time. In our 40s and 50s I would have worked 20+ years in software engineering and would have developed significant skills there to perhaps do something in that space. We are currently in our early 30s. I also have a passion for aviation and would like to somehow develop skills in my 30s (like getting a PPL) that I could potentially use later on in my 50s. What are some good jobs/occupations during that time that require minimal time (say 20 hours) but yet provide the advantages of having a job, like health insurance, interactions with colleagues, mental stimulation etc. I am thinking of something like teaching others flying, coding or s...
by cherijoh
Thu May 28, 2020 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Simple jobs during FATFire?
Replies: 152
Views: 15153

Re: Simple jobs during FATFire?

Me and SO should be on track to FATFire around 45-50. However, I don't want to just sit at home at this time. In our 40s and 50s I would have worked 20+ years in software engineering and would have developed significant skills there to perhaps do something in that space. We are currently in our early 30s. I also have a passion for aviation and would like to somehow develop skills in my 30s (like getting a PPL) that I could potentially use later on in my 50s. What are some good jobs/occupations during that time that require minimal time (say 20 hours) but yet provide the advantages of having a job, like health insurance, interactions with colleagues, mental stimulation etc. I am thinking of something like teaching others flying, coding or s...
by cherijoh
Thu May 28, 2020 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Employer approval for a side gig
Replies: 43
Views: 3130

Re: Employer approval for a side gig

At my company, we terminate at least 5 or 6 people a year for not following company policy in terms of side businesses. It's really dumb (IMO) to risk you job by not informing the company. Out of curiosity... is that a mega corp? And what are the scenarios? When I was a manager at a mega corp, we had the same notification/approval policy. I think I received one approval request in many years; one of my team members who wanted to write a technical book that sort of related to our work (and actually was beneficial to the company). Of course, I approved. I knew of many other employees with side hustles of some sort. One guy was running a weekend event photography “business”. Another was buying and reselling on eBay. A few bloggers that likely...
by cherijoh
Thu May 28, 2020 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Employer approval for a side gig
Replies: 43
Views: 3130

Re: Employer approval for a side gig

Looking for some basic advice here and thoughts on what sort of outcome I should expect. Per my employer's code of conduct, I must notify them of any type of ownership and/or employment with a secondary venture. I don't think you are asking permission (at least I wouldn't be). I think you would be notifying them that you have other businesses of a non competitive nature that you own, which is required by the code of conduct. If it were me, I would merely state "I am an investor in Acme.Corp with some supervisory activities. This firm does foo, which does not compete with my current position." And I would be done. No need to ask permission, no need to go into detail. I worked for a megacorp with the same policy (for all I know if ...
by cherijoh
Thu May 28, 2020 8:41 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 233
Views: 23666

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

Sounds like a statement of fear. I'm not a big fan of that approach. You leave a lot of money on the table when you put that many resources underneath your mattress. It works for the investor, but not so much for your loved ones when you are gone. You might want to read the underlying treatise that Bernstein wrote. Your comment makes me think you may have overlooked the "really" in the quote above. My recollection is that rather than advocating that investors use a rule of thumb for asset allocation (e.g., 70/30, 30/70, or something in between) across their entire portfolio, he advocates that investors look at their own needs in determining how their assets are invested. He suggests doing this by viewing it as two pieces - the li...
by cherijoh
Thu May 28, 2020 7:53 am
Forum: Investing - Theory, News & General
Topic: “WHEN YOU'VE WON the game, stop playing with the money you really need.”
Replies: 233
Views: 23666

Re: “WHEN YOU'VE WON the game, stop playing with the money you really need.”

I agree with that Tim wrote, in the sense I’m here mainly to be entertained far more that I am looking for ideas that will improve my portfolio. We are also in the category of having won the game, but we are still working and are 45/49 years old, so we are in no position to get very conservative with hopefully many prosperous years ahead of us. Since the classic 60/40 portfolio is one that’s widely accepted to be the industry standard for growth and income, that’s the one we are going to use for the duration. It’d also probably worth mentioning that my wife and I will receive someday hefty inheritances that will likely double what we’ve been able to save through our own hard work over the years. If that wasn’t the case, perhaps we’d be 50/...
by cherijoh
Wed May 27, 2020 12:35 pm
Forum: Personal Investments
Topic: How to invest Inherited IRA
Replies: 18
Views: 2138

Re: How to invest Inherited IRA

Hello, I just inherited an IRA from an uncle who recently passed away. I have about $50,000 in it, and I'm wondering what the best way to invest this would be. My husband and I have an AGI of about $190,000, so we are right on the cusp of the 22-24 percent tax brackets. Since we have to have it emptied in 10 years, I'm not sure how to invest. My main questions are: Should it be invested conservatively since it is only 10 years? Just take the distributions and put it in a Roth? How do we minimize taxes? Is there anything else to know about an Inherited IRA? My initial thought is just adjust our pretax accounts to invest the same as the distribution from the Inherited IRA so it basically offsets the taxable income. Does that make sense? Than...
by cherijoh
Wed May 27, 2020 12:19 pm
Forum: Investing - Theory, News & General
Topic: At what moment does retirement begin?
Replies: 68
Views: 7069

Re: At what moment does retirement begin?

You might be surprised by the percentage of retirees who’s retirement wasn’t their decision at all. Covid will be one more thing that forces many to retire when it would have been their wish to wait. Forget the hour, minute or the second. Some would be off by years. I could be fired or laid off from a job, but I'd never confuse that with retirement. Retirement is a choice to no longer work for pay. If I wanted to work, I could find a job, and so could most anyone else. Granted, it might not be exactly the job you'd hope for or have the pay you'd hope for. I'm not sure even a major handicap could force me to have that mindset, given how many job programs there are for the disabled. Based on your response, I suspect that you are many years f...
by cherijoh
Wed May 27, 2020 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Worst House on the best block?
Replies: 52
Views: 5548

Re: Worst House on the best block?

Hello all, DW and I are in the process of looking to buy our first home and in our price range (circa $300k in relatively HCOL area) we are forced to choose between nicer houses in undesirable partS of town and fixer uppers in desirable parts of town. So I just wanted to see if Bogleheads think the old advice that location matters most still rings true. Should we buy the worst house on the best block? The inverse? Find some middle ground? Thanks, all! I have been counseled not to buy anything below the 30th percentile and above the 80th percentile in a neighborhood for resale reasons. Don't know if that is true or not but hope it helps. Thanks! I hadn't heard that before. But that could be a little too rigid in a neighboorhood built by a s...
by cherijoh
Mon May 25, 2020 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: At what point can I back-out of a refi for a better rate?
Replies: 8
Views: 957

Re: At what point can I back-out of a refi for a better rate?

Ewb wrote: Mon May 25, 2020 3:47 pm I’ve backed out of two refinances after signing documents and wiring money within 72 hours of signing. The documents you sign to back out are part of your final packet. Neither one of my home refinances required a home appraisal. The first one I paid the mobile notary fee (local mortgage broker), the second one I owed nothing (better.com).
Why did you back out of the deals after closing? I Knew it was possible, but I've never heard of anyone actally doing it once much less twice.
by cherijoh
Mon May 25, 2020 3:56 pm
Forum: Investing - Theory, News & General
Topic: At what moment does retirement begin?
Replies: 68
Views: 7069

Re: At what moment does retirement begin?

For your retirement, at what moment will it, or did it actually begin? Maybe the standard time is midnight just as the date changes, like on the New Year. But since it’s YOUR RETIREMENT you can pick the moment, correct or not? I’m thinking my retirement will begin at sunrise on the first day. I’m planning on being up and awake for that. What are your thoughts for your retirement moment? What got me started on this was looking for a retirement countdown app. And I found a simple countdown app just for retirement; but rats!; it only lets you pick the day, not the moment by hour, minute, and second! You might be surprised by the percentage of retirees who’s retirement wasn’t their decision at all. Covid will be one more thing that forces many...
by cherijoh
Mon May 25, 2020 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: At what point can I back-out of a refi for a better rate?
Replies: 8
Views: 957

Re: At what point can I back-out of a refi for a better rate?

We're in the process of a re-fi, I've recently signed a rate-lock, but we're awaiting underwriting because my wife went on maternity leave and her income has changed, and mortgage agent was concerned this would cause the underwriter to not process the loan. Simultaneously, our original mortgage broker (different from the one above) has come back to us with the UWM offer (3% / 30 year, minimal closing costs), and said it won't be an issue to qualify on my income alone. When am I contractually obligated to the first lender? Can I backout if underwriting doesn't go through the first? I'm a little confused. How did you find the refi? On your own or through the mortgage broker who brought you the new offer? Or is it the same lender who holds yo...
by cherijoh
Mon May 25, 2020 2:16 pm
Forum: Investing - Theory, News & General
Topic: Has anybody heard of DriverLoan Investor Club?
Replies: 30
Views: 6796

Re: Has anybody heard of DriverLoan Investor Club?

Thanks for the quick reply and assessment. It definitely does look too good to be true. SEC link is indeed generic and have have run into the issues with K1 when investing in MLPs. Daily deposits seem to be an optional feature which may or may not be availed. FDIC risk can be managed if total of personal and investment deposits stay below the insurance amount threshold. They are charging borrowers 5% verification fee + 440% APR so maybe they can stay solvent & turn a profit if they run a tight ship and manage their inflows and outflows well. Might make a small token investment to test out the platform. WHY? What would it tell you? If it isn't an outright scam, a "token investment" doesn't tell you whether their business model...
by cherijoh
Sun May 24, 2020 12:41 pm
Forum: Personal Consumer Issues
Topic: Do you dislike recurring billing for gyms?
Replies: 68
Views: 5421

Re: Do you dislike recurring billing for gyms?

Once gyms reopen, I was going to join LA Fitness. They have pretty good monthly rates, except... Recurring monthly charges must be paid by electronic funds transfer from your checking or savings account or automatic transfer from an accepted credit or debit card. There's no way I'm letting some company have access to my checking or savings account, but even recurring billing to my credit card bothers me. I'm always concerned that they'll keep billing even after I've terminated membership, and then if I contest the charges, they'll claim that I didn't follow the exact cancellation procedure outlined in the contract. Am I being paranoid here? After all, there is some reason that they insist on recurring billing and I suspect it's a rather un...
by cherijoh
Sat May 23, 2020 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 46010

Re: The axe falls and I am prepared. What's next?

ram wrote: Fri May 22, 2020 7:22 pm Our healthcare group has multiple hospitals, some acquired recently. Some of these hospitals use old technology. It has been announced that all hospitals will be on brand new technology from 2023.
In the meanwhile we have retained some wise old men to keep the old technology functioning. The young hotshots do not know these old platforms.

Could there be such an opportunity for you?
I had a friend who retired from IT and discovered that there was a shortage of COBOL programmers out there - especially those familiar with banking systems. Except at the peak of the Great Recession, she had all the contract work she could handle. :happy
by cherijoh
Sat May 23, 2020 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 46010

Re: The axe falls and I am prepared. What's next?

Folks, So, it happened. I will be laid off by the end of June. ... My question is 1) Is it really worthwhile for me to continue working? I worked in the IT area. If I want to stay in this area, I have to study 10 to 20 hours per week just to keep up with the latest technology. 2) If I do contract work, how much should I get paid before it is worthwhile for me to work? A) I only plan to work 20 hours per week. Between unemployment and the $600 per week, I will get about $900 per week. Unless I am paid at $90 per hour or higher, it may not be worthwhile for me to work 3) Any other comment/feedback as to how do you decide whether you should continue working or just retire. KlangFool So sorry to hear the news. But of all the regular posters yo...
by cherijoh
Sat May 23, 2020 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 46010

Re: The axe falls and I am prepared. What's next?

Sorry about being laid off. FIREing with $1.4M at 50 feels a little lean to me. 3.5% withdrawal rate is $49K but you do get $15K from your wife's salary. So you're probably fine. If the market tanks again you'll be eating into your EF which will have to get replenished. I dunno, IT is still in demand unless you moved into management like many technical people do in their 50s. Then you may have to study to regain skills if you want to do contract work. I'd start a consulting LLC over the next 3 months while looking for a $90/hr gig. Study a couple hours a day. Maybe get some kind of cyber cert from the local university. Maybe not a spendy Cisco Cyber ones. Write it off taxes this year if you can. I think you may have misread the post. Klang...
by cherijoh
Sat May 23, 2020 8:39 am
Forum: Personal Investments
Topic: How to automate deductions from paycheck for investments while maintaining balanced portfolio?
Replies: 20
Views: 1406

Re: How to automate deductions from paycheck for investments while maintaining balanced portfolio?

I had a similar post about this last week (https://www.bogleheads.org/forum/viewtopic.php?f=1&t=314436) about this last week but had a lot of misunderstandings back then. I've since re-read some basics, fixed and confirmed my previous understandings, and taken a summary of my current portfolio. I am trying to figure out the "cleanest" way to setup automatic deductions from my paycheck for investments while still maintaining my asset allocation percentages and wanted to double check some understandings I have. Below is some info on my situation: Tax filing status: Single Tax rate: 32% federal, 9.3% state (California) Age: Late 20s Asset allocation (taken from the wiki and The Bogleheads Guide to Investing): - 50% US, 33% Intl,...
by cherijoh
Sat May 23, 2020 7:59 am
Forum: Personal Finance (Not Investing)
Topic: CapitalOne Venture would not forgive annual fee
Replies: 37
Views: 6853

Re: CapitalOne Venture would not forgive annual fee

Do I assume you actually paid the fee? This is entirely up to you and in your situation I would have said that it was sufficiently fair for them to charge the fee that I would hang onto the card and make a serious note on the calendar to cancel it about three months before the next fee, in order to get the "value" of the fee... or would have canceled and just chalked the $95 up to... whatever. However, based on my personal experience if you are willing to go to the time and effort of writing a letter to the CEO of Capital One, and willing to take the risk of doing that work and still getting rejected, I think there's at least a 50% chance you can get the $95 back. This should be a paper-and-ink letter, mailed in an envelope with ...
by cherijoh
Sat May 23, 2020 7:56 am
Forum: Personal Finance (Not Investing)
Topic: CapitalOne Venture would not forgive annual fee
Replies: 37
Views: 6853

Re: CapitalOne Venture would not forgive annual fee

02nz wrote: Fri May 22, 2020 8:54 pm
PhillyBird wrote: Fri May 22, 2020 8:22 pm they saw me unnecessarily tying up credit lines that could be given to someone who spends more
That's not how credit lines work. It's not a finite resource shared between a bank's credit card holders.
See my other response. It isn't exactly a "finite resource" but it isn't free to the bank either based on the regularory environment or from the risk perspective. It effects how much capital they have to keep on hand which could otherwise be used to generate revenue. That's why the banks periodically cancel unused credit cards or reduce unused credit limits.
by cherijoh
Sat May 23, 2020 7:50 am
Forum: Personal Finance (Not Investing)
Topic: CapitalOne Venture would not forgive annual fee
Replies: 37
Views: 6853

Re: CapitalOne Venture would not forgive annual fee

This week was my one year anniversary of opening a CapitalOne Venture card. Annual fee ($95) was waived in the first year per agreement. Now that I'm on to my 2nd year, a $95 charge showed up in my account, as expected. I pay annual fees for other cards and do not mind doing so. I opened Venture anticipating more family travel and taking advantage of the now expired 10xpoints deal on hotels.com (which I did). Then followed COVID-19, and all my travel plans went out the window. On my call to customer service, I explained that I'm requesting a one time courtesy to "waive" the $95 fee due to limited travel opportunities this year since this is primarily a travel rewards card. After a brief hold, CS rep said that they cannot do it. I...
by cherijoh
Fri May 22, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: How can we do backdoor IRA as a family with a traditional IRA account
Replies: 10
Views: 816

Re: How can we do backdoor IRA as a family with a traditional IRA account

Just open a new traditional IRA account at a different institution. When doing a backdoor IRA, ALL accounts must be considered. Opening it at another institution has nothing to do with this, would not solve the problem. I do note that the traditional IRA held by husband might be considered modest in light of your annual income and possible future prospects. And you are in the Federal 24% bracket (it's a good place to be); if you anticipate your income going up, there may be no better time to just convert that IRA, pay the taxes and move on. Taxes ... not likely to get better. I would also note that technically the husband can do a backdoor Roth IRA at this point, but he would have to prorate this year's IRA over the total balance and that'...
by cherijoh
Wed May 20, 2020 12:54 pm
Forum: Personal Investments
Topic: Really stupid question re: Capital Gains
Replies: 10
Views: 980

Re: Really stupid question re: Capital Gains

Dividends are realized gains, so you pay taxes on them when they happen. If you had them reinvested, that amount is now part of the investment, and will not count again in capital gains when those stocks are sold - only the gain will be taxed. Ok that makes sense, but how can I estimate those? In other words, my tax exposure if I sell now? Let's say you purchased 100 shares at $25 each giving you a cost basis of $2500 (100x $25). If you received $40 in dividends and they were reinvested as 2 additional shares purchased at $20/each you now own 102 shares with a total cost basis of $2540. You can look up the current cost per share and this gives you all the info you need to estimate your tax exposure. It is a matter of having purchase record...
by cherijoh
Tue May 19, 2020 4:55 pm
Forum: Personal Consumer Issues
Topic: Tea supplier comparison
Replies: 74
Views: 7816

Re: Tea supplier comparison

trees wrote: Sun May 06, 2018 2:57 pm Find a supplier of loose leaf tea (or satchets that have loose leaf). Tea bags from places like Twinings tend to have leftover bits, so are generally much less flavorful and delicious as compared to loose leaf. Harney and Sons is one supplier that I like, but I also tend to drink green teas so don't know what their Oolong is like.
A friend surprised me with a sampler box of tea bags from Harney & Sons. It has 4 tea bags each of 15 different varieties - a mix of herbal, green, and black tees. I have also previously purchased Harney & Sons tins with the sachets. Surprisingly I found the tins at our local Target. I'm also a green tea or herbal tea drinker so I can't advise about oolong.
by cherijoh
Tue May 19, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: investmenting books
Replies: 28
Views: 2235

Re: investmenting books

MP173 wrote: Tue May 19, 2020 4:02 pm Looking for a book on index funds and general personal finance for my niece and her husband. Both in early 30s and doing well, but are using a high cost personal finance manager....charging 1% annual plus high expense ratio fees and 5.5% load funds.

I know there was a Bogelhead book years ago (which I purchased, read, and lent out) but not sure if there is an updated version.

Thanks,

Ed
You m iht wank to check out the Wiki on this topic.
by cherijoh
Tue May 19, 2020 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Considerations: Marriage in your 50s/60s
Replies: 23
Views: 2340

Re: Financial Considerations: Marriage in your 50s/60s

... keep your finances separate. +1 I've seen three situations where a couple who had been happily married (second time around) for years. But when the couple were both advanced in years and increasingly in need of assistance for basic activities, the couple has separated and one has gone to live near a child. One couple even had a child somehow take over the trust and accounts and leave the remaining spouse destitute. Talk to a wise and experienced lawyer. I have a number of female friends who became stepmothers when they married guys with kids from previous marriages later in life. (Only one of them had kids of her own). I'm not privy to their finances but of the two that are now widowed, one gets along well with her stepdaughter but the...
by cherijoh
Tue May 19, 2020 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of buying a boat during pandemic – am I CRAZY?
Replies: 80
Views: 7609

Re: Thinking of buying a boat during pandemic – am I CRAZY?

My wife and I have been going back and forth on purchasing a boat. We recently bought a new lakeside house, and I have been wanting a boat for a *long long* time. Am I crazy to think about this given the current economic climate? The boat I’m looking at is listed at 65k, and I’ve been going back and forth on this endlessly. More details - we have been in progress of remodeling our new house – looking at 50k to finish the remodel, with a potential further kitchen remodel in the fall (150k). Pros : Life is short, kids growing up. Wanted this for a long time. My projections say I can afford it. Cons : RECESSION! Given meta-uncertainty plus remodel, isn’t it better to wait until next year? Other options – smaller boat (with no bathroom),or buy...
by cherijoh
Tue May 19, 2020 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Fraud charges on Netflix using Bofa Card
Replies: 9
Views: 1895

Re: Fraud charges on Netflix using Bofa Card

Hi All, Someone has been using my Bofa card for their Netflix account. This has been going on for last 4 months and I did not notice. This month when I noticed, I contacted Netflix. They issued credit only for this month asking me to contact Bofa for last three months. When I contacted Bofa they put fraud claim and investigated and denied claim saying someone authorized person used this card. Now no one apart from my wife is authorized to use this card and no one should use this. When I called Netflix first time they clearly indicated that these are fraud charges but now are not providing any info about this account to help in settling the claim with Bofa. I already escalated this to Bofa 2 times, in total all three investigations were den...
by cherijoh
Sun May 17, 2020 3:30 pm
Forum: Personal Consumer Issues
Topic: 90%+ chocolate bar
Replies: 67
Views: 6388

Re: 90%+ chocolate bar

I noticed something, anything labeled "dark chocolate" does not have any milk. So even if it's 70-90% cocoa, it won't have any milk. The extra ingredient would be sugar. Does anyone know why there isn't even a little milk? Or why there isn't dark chocolate which is just cocoa + milk (no sugar), rather than cocoa + sugar (no milk)? Just curious. Hmmm... What is "semi-sweet" chocolate? RM Something between sweet and bittersweet. Fair enough. But what are *those* ^ ? Does it matter if they have "milk"? Is there a grid of % cocoa, % sugar, % milk, or is that part of what any chocolatier does? Except that "dark" always means "no milk"? And chocolate nibs are...? Looks like I need to set up some ...
by cherijoh
Sun May 17, 2020 3:03 pm
Forum: Personal Consumer Issues
Topic: How did you feel after giving notice to retire?
Replies: 85
Views: 11166

Re: How did you feel after giving notice to retire?

I had some fleeting mixed feelings on my last day - they organized a very nice retirement party with a cake and decorated the conference room which I hadn't expected. But overall the feeling I had following my retirement was relief. My company was worse. There were two of us retiring at the same time. They had a retirement party with a cake decorated with both of our names. The other retiree had his family there. They never even told me there would be a party, so my family had no opportunity to participate. Since I worked mostly for home, I knew there was a "reception" since they needed to verify I would be coming into the office. :wink: But I hadn't expected anyone to go too much trouble. But my manager enlisted our department's...
by cherijoh
Sun May 17, 2020 2:32 pm
Forum: Personal Consumer Issues
Topic: How did you feel after giving notice to retire?
Replies: 85
Views: 11166

Re: How did you feel after giving notice to retire?

Assume you have enough money to retire with a very conservative asset allocation. Is it normal to have conflicting thoughts? Second guessing yourself. Maybe about how much money you are leaving on the table. Feelings of separation and loss. Can anyone relate to this? Francis There is always money on the table but you only have so much time. My father passed away at 68, so early retirement was always something I wanted to do. But I had a good work situation - I liked the work, could work from home most of the time, etc. So I waffled about retiring now vs. a little later.... A new manager (that came through a re-org) changed my perspective - I stuck it out for over a year under him, but things were not getting better. I didn't feel like my w...
by cherijoh
Sun May 17, 2020 1:46 pm
Forum: Personal Consumer Issues
Topic: Dual citizen, USA passport expiring, how to travel internationally
Replies: 72
Views: 5951

Re: Dual citizen, USA passport expiring, how to travel internationally

Looking for any advice & solutions. Family member: Born in USA (American citizen by birth) Has USA passport, expiring July 2020 Turned 18 two months ago, thus… Received last passport when under 18 years old (can’t renew by mail) Wants to travel to South America in August Is also a citizen of said South American country (naturalized via parents), and… Has passport for said South American country valid until 2024 As per the USA State Department website, because he was under 18 when the last USA passport was issued, he cannot renew by mail. However, he can submit the paperwork, fees, & photos to a Passport Acceptance Facility. There are several near him. Due to Covid-19: we have extremely limited U.S. passport operations… if you apply...