Search found 244 matches

by shess
Fri Nov 22, 2019 2:57 am
Forum: Personal Investments
Topic: Ok I'm about to officially start my ROTH IRA .... need a little help
Replies: 18
Views: 1011

Re: Ok I'm about to officially start my ROTH IRA .... need a little help

Hmm, and a general adage to go with the previous comment: Investing is more like gardening than hunting. If your investment approach isn't boring to describe, then you're probably doing it wrong!
by shess
Fri Nov 22, 2019 2:55 am
Forum: Personal Investments
Topic: Ok I'm about to officially start my ROTH IRA .... need a little help
Replies: 18
Views: 1011

Re: Ok I'm about to officially start my ROTH IRA .... need a little help

Don’t even log in to the account. That's never gonna happen sorry! I realize it'll go down and up and I won't sell. Why not a couple funds though? What about a bond fund also? Why a couple funds, though? Let's say that I could conclusively prove to you that an S&P 500 fund plus a bond fund in a spe...
by shess
Thu Nov 21, 2019 1:58 am
Forum: Personal Investments
Topic: Ok I'm about to officially start my ROTH IRA .... need a little help
Replies: 18
Views: 1011

Re: Ok I'm about to officially start my ROTH IRA .... need a little help

Fidelity finally linked up my savings today after I waited for about a week! Now I need to select a fund or two. Most everyone is telling me to get a S&P 500 index fund which I think I'd like to start with. Can I switch funds if I "make a mistake" or something? Not that I would, but could I theoret...
by shess
Thu Nov 21, 2019 1:55 am
Forum: Personal Investments
Topic: Do you keep deposting money into IRA while "market crashes"?
Replies: 25
Views: 1827

Re: Do you keep deposting money into IRA while "market crashes"?

If (hopefully it won't happen) the market crashes would I continue to still feed money into my Roth IRA? Every year, you have the option to put money in. When that year is gone, the option is gone. Presumably someday the market will come back - would you prefer to have money in your Roth then? Actu...
by shess
Wed Nov 20, 2019 1:25 pm
Forum: Investing - Theory, News & General
Topic: Bill Gates' backed Heliogen may revolutionize energy industry
Replies: 65
Views: 5454

Re: Bill Gates' backed Heliogen may revolutionize energy industry

A CNN article is reporting that a company named "artificial intelligence and a field of mirrors to reflect so much sunlight that it generates extreme heat above 1,000 degrees Celsius." Generating such high levels of heat on a major scale could greatly reduce the consumption of fossil fuels used in ...
by shess
Wed Nov 20, 2019 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: At What Point Did You Realize You Made It?
Replies: 48
Views: 7405

Re: At What Point Did You Realize You Made It?

My questions are: 1. In your opinion, how am I actually doing? 2. Would you feel relatively comfortable if you were in the same spot? 3. At what point did you realize you "made it"? 4. Is it naive of me to think I kinda made it myself? 2) No, depending on what "relatively" means. A lot of people fe...
by shess
Wed Nov 20, 2019 12:44 pm
Forum: Personal Investments
Topic: 529 in S&P fund, child senior in HS
Replies: 18
Views: 949

Re: 529 in S&P fund, child senior in HS

The fund says it is up 26.46% this year! Next year is the first college tuition payment. I may have enough for 3 years, depending on the school. I am thinking of taking it all and transferring it to something extremely safe. I don’t trust the immediate future. I just started a kid in college, and r...
by shess
Sat Nov 16, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 89
Views: 10140

Re: Disturbing experience with Ally Bank

The only scenario in which this makes sense is one in which Ally considered me to be the nefarious actor trying to take money from someone else's account. I think you may have come across the answer to your troubles with Ally. If your transaction triggered an alert indicating that you or someone wi...
by shess
Sat Nov 16, 2019 5:51 pm
Forum: Personal Investments
Topic: Invest in a very simple portfolio of broad market index funds using an allocation you can stick with.
Replies: 14
Views: 1777

Re: Invest in a very simple portfolio of broad market index funds using an allocation you can stick with.

Invest in a very simple portfolio of broad market index funds using an allocation you can stick with. anyone just shows me what is it, it is like three-fund portfolios or, large, mid and small-cap ???. thank you Look at a target-date type fund. If it's good enough for you, stop looking. Otherwise, ...
by shess
Sat Nov 16, 2019 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Double-dipping with cash-back app
Replies: 13
Views: 1449

Re: Double-dipping with cash-back app

Basically, the app sells you gift card vouchers for stores like Amazon, Walmart, CVS, Sams Club, Lowes, etc... Every shop has a different cash back rate of course but mostly its between 1% - 6% which I think is great. Why do these places offer cash back, and how do they afford it? Giving cash back ...
by shess
Fri Nov 15, 2019 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: mechanics of paying a large tax bill
Replies: 42
Views: 2758

Re: mechanics of paying a large tax bill

Because of our income, we'd need to hit 110% of last year's tax due, so the gap between 110% of last year and this year's lower numbers is bigger than 8% (one month) of salary. I'm calculating things more carefully, and we may come close. It sounds like you're not going to make the safe harbor. So ...
by shess
Fri Nov 15, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: mechanics of paying a large tax bill
Replies: 42
Views: 2758

Re: mechanics of paying a large tax bill

I don't have a cc with a limit anywhere near what we're going to owe. Sounds like certified check will do it, and I'll have to get started on the transfer ahead of time in case the bank flags and holds it. Can you enable checkwriting on the Vanguard account? I see: https://personal.vanguard.com/us/...
by shess
Fri Nov 15, 2019 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 89
Views: 10140

Re: Disturbing experience with Ally Bank

OP, thanks for posting and I'll be watching the result with interest. I am in the process of closing on a house sale and will be pushing funds in excess of $500,000 which I had intended to split between Ally and Schwab for the FDIC coverage. IMHO, you're right to be nervous. I once had a closing al...
by shess
Fri Nov 15, 2019 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Disturbing experience with Ally Bank
Replies: 89
Views: 10140

Re: Disturbing experience with Ally Bank

Has anyone had a similar experience? What is the "issue" that the back office flagged the account for (money laundering? using Ally as a hub? something else?)? What should I do (if anything)? I had a similar issue a few years back, suddenly my account was locked, so I called, and they (mostly) woul...
by shess
Fri Nov 15, 2019 1:23 am
Forum: Investing - Theory, News & General
Topic: SP500 is very top heavy right now
Replies: 134
Views: 11248

Re: SP500 is very top heavy right now

Last I checked, all of them make money — a lot of money. What were the top 5 companies’ names for 1999? I think this context matters when assessing the validity of the comparison. Today they are: Microsoft Apple Amazon Facebook Berkshire Seems to be they are all pretty legit, large moats, revenue n...
by shess
Thu Nov 14, 2019 12:34 am
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 10038

Re: The difficulty of discarding frugality?

I think if you grow up poor or middle class, you behave frugally for the rest of your life, no matter how much money you accumulate. That was true of my parents, it's true of me and my wife. I know people who grew up poor who love to spend money as adults with good incomes. They felt deprived as ch...
by shess
Wed Nov 13, 2019 8:48 pm
Forum: Personal Investments
Topic: Help! What do I do with my children's money?
Replies: 33
Views: 2721

Re: Help! What do I do with my children's money?

We did not put money of our children's into an account with their name on it. We earmarked it for them, but kept the accounts in our name. We didn't want them to go blow $1,000 on fireworks when they were a teen. All the money we have earmarked for them is for education. If it isn't used, they can ...
by shess
Wed Nov 13, 2019 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 10038

Re: The difficulty of discarding frugality?

I have no problem with small indulgences such as coffee shop spending, a movie online, etc. what I am having problem with is buying a new condo which is slightly bigger than current and has a/c that is not a room a/c , and a 3 season porch. All rooms are slightly bigger. My calculations say I have ...
by shess
Wed Nov 13, 2019 2:08 pm
Forum: Personal Investments
Topic: Taxes on Long Term Capital Gains
Replies: 12
Views: 1261

Re: Taxes on Long Term Capital Gains

https://engaging-data.com/tax-brackets/ My favorite way to visualize it. That’s a cool visual tool, but you have to be careful when reviewing the summary information in the grey box beneath the chart. It correctly identifies the current Marginal Rates for “Regular” and “Capital Gains”, but it doesn...
by shess
Wed Nov 13, 2019 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: The difficulty of discarding frugality?
Replies: 110
Views: 10038

Re: The difficulty of discarding frugality?

Dealing with the fruits of labor has been a bit of an issue for me since the high savings rate days have been gone and frankly, with the bull, decumulation isn't decumulating. Do any of you have problems pulling the trigger despite being well able (not for frivolous items, high end jewelry and such...
by shess
Wed Nov 13, 2019 11:45 am
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Re: Do you batch 529 reimbursement or match costs?

OK, the school's response is that the used to show the billed amount for Fall and Spring in Box 2 of 1098-T. But now the put the qualified amount paid in the calendar year in Box 1. There was a change starting with 2018 where schools are now required to report amounts paid in the calendar year, whe...
by shess
Wed Nov 13, 2019 1:05 am
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Re: Do you batch 529 reimbursement or match costs?

HereToLearn wrote:
Wed Nov 13, 2019 12:31 am
I sent you a message but it won't leave my inbox. I wonder if that has anything to do with your settings?
I had a couple messages in my inbox, one deleted before I read it, so something was working. Or not working!
by shess
Wed Nov 13, 2019 12:25 am
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Re: Do you batch 529 reimbursement or match costs?

OK, the school's response is that the used to show the billed amount for Fall and Spring in Box 2 of 1098-T. But now the put the qualified amount paid in the calendar year in Box 1. This initially sounded like an improvement, but I'm not entirely sure, since AFAICT scholarships appear to be credited...
by shess
Tue Nov 12, 2019 12:55 am
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Re: Do you batch 529 reimbursement or match costs?

OK, looking more closely, here's an example 1098-T: https://www.shu.edu/bursar/irs-form-example.cfm Box 2 lists amounts billed for qualified tuition and related expenses, while box 5 lists scholarships or grants. I feel comfortable that for filing purposes, subtracting Box 5 from Box 2 should suffic...
by shess
Tue Nov 12, 2019 12:40 am
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Re: Do you batch 529 reimbursement or match costs?

Your child's school will issue a 1098-T and the 529 plan will issue a 1099-Q. You just want to make sure that your payment & subsequent reimbursement from the 529 plan align with the university's reporting. Reading around, it feels like there's no chance of this, since our college charge a comprehe...
by shess
Mon Nov 11, 2019 11:55 pm
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Re: Do you batch 529 reimbursement or match costs?

Your child's school will issue a 1098-T and the 529 plan will issue a 1099-Q. You just want to make sure that your payment & subsequent reimbursement from the 529 plan align with the university's reporting. Reading around, it feels like there's no chance of this, since our college charge a comprehe...
by shess
Mon Nov 11, 2019 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Will I be audited?
Replies: 51
Views: 4253

Re: Will I be audited?

Your chances of being audited are probably low and if it is all legit I don't see why you would think twice about it. I mean, this is all easily documentable. If you get a letter, you send in the documentation. You don't need a team of accountants or lawyers for that. I've been filing taxes for ove...
by shess
Mon Nov 11, 2019 7:30 pm
Forum: Personal Investments
Topic: Do you batch 529 reimbursement or match costs?
Replies: 14
Views: 1096

Do you batch 529 reimbursement or match costs?

First-year college dad, here, trying to make sure I have everything nailed down before the year ends. Right now, I have three broad sets of bills which I'm planning to submit to our 529 plan: * The big comprehensive bill (tuition, room&board, meal plan, fees) * Laptop computer * Books It's about as ...
by shess
Mon Nov 11, 2019 5:51 pm
Forum: Personal Investments
Topic: USAA Giving Fund (Donor Advised Fund)
Replies: 10
Views: 411

Re: USAA Giving Fund (Donor Advised Fund)

Seeing as I wouldn’t donate appreciated shares directly to any charity myself, isn’t DAF still a good deal? Yes, a DAF is a great way to donate appreciated shares. With a DAF, there is one transfer and donation of shares - then you’re done. If you donate the shares directly to a charity, you need t...
by shess
Mon Nov 11, 2019 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: How donating appreciated stocks save taxes?
Replies: 13
Views: 702

Re: How donating appreciated stocks save taxes?

For someone who doesn't have a donor-advised fund, would donating appreciated ETF's from taxable (instead of bank cash) save taxes assuming claiming the standard deduction and not itemizing? Yes, you avoid having to realize the gains, which is better. IMHO, I think there's still an argument to be m...
by shess
Mon Nov 11, 2019 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Will I be audited?
Replies: 51
Views: 4253

Re: Will I be audited?

What are my chances of being audited this year or should I worry? Joint Income $240k+ I plan to combine 5 years of charitable giving due to the new tax laws. Specifically, I plan to put 56k into a Donor Advised Fund and give out 14k this year, for a total of 70k of cash giving this year. The goal i...
by shess
Mon Nov 11, 2019 4:19 pm
Forum: Personal Consumer Issues
Topic: Mobile finance apps - do you use them?
Replies: 22
Views: 1069

Re: Mobile finance apps - do you use them?

I have apps on my phone for Capital One, Merrill Lynch and Vanguard. It is a very easy way to see balances and activity on the go, but lately I am wondering if this is really safe to do... I have my bank app on my phone, because it's useful to use it to deposit checks. I have no idea why I'd ever i...
by shess
Mon Nov 11, 2019 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is this Job W-2 or 1099?
Replies: 6
Views: 368

Re: Is this Job W-2 or 1099?

I completed a W-2 job recently. Looking for work. Found a "part time contractual basis" job that can work for now. I'll be interviewing with the company's recruiter soon. AFAIK this is with the company and not a third party. Is this a W-2 or 1099 job? I don't have more info and I would like to know...
by shess
Mon Nov 11, 2019 4:11 pm
Forum: Personal Investments
Topic: USAA Giving Fund (Donor Advised Fund)
Replies: 10
Views: 411

Re: USAA Giving Fund (Donor Advised Fund)

We probably won't be keeping a high balance in the account (probably less than $15K at any given time). But you will be contributing more than 15k right? Otherwise, DAF might not be worth it. I don't know your situation, but with married-filing-jointly and SALT-limited and no mortgage interest, you...
by shess
Mon Nov 11, 2019 2:15 pm
Forum: Personal Consumer Issues
Topic: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?
Replies: 64
Views: 6412

Re: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?

I'm not trying to be funny here, but I have a serious question: What does it mean to feel "not challenged enough" at your job -- especially if you are satisfied with your pay? This is kind of a hard question, which is going to be subject to all sorts of personal feelings. So YMMV in a big way. For ...
by shess
Mon Nov 11, 2019 1:24 am
Forum: Personal Consumer Issues
Topic: RSS Reader Question
Replies: 12
Views: 769

Re: RSS Reader Question

pyld76 wrote:
Sun Nov 10, 2019 9:33 pm
Feedly. And I curse google for discontinuing reader.
That's why I use "The Old Reader". I actually no longer remember if they are that similar to what Google's Reader was like, but it's online and works well enough for me.
by shess
Mon Nov 11, 2019 1:23 am
Forum: Personal Investments
Topic: May need to move 401k money by end of year, but not eligible for new 401k until February
Replies: 27
Views: 1392

Re: May need to move 401k money by end of year, but not eligible for new 401k until February

Have you made any conversions in 2019 yet? If not, this is not a problem. Just do your next Roth conversion in 2020. You can make your 2019 non deductible contribution in either 2019 or before the April tax filing deadline in 2020. Not yet. But if I have an IRA balance on December 31st, 2019 from m...
by shess
Sun Nov 10, 2019 8:01 pm
Forum: Personal Consumer Issues
Topic: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?
Replies: 64
Views: 6412

Re: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?

Old company (1 product company: SaaS solution): <snip> New company (consulting company) <snip> I'll be honest, while I can completely see your position WRT your old company, I'm a little leery of fixing those problems by joining a consulting company. When I read your description of the old company,...
by shess
Sat Nov 09, 2019 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Early Financial Independence. - Healthcare costs
Replies: 65
Views: 5257

Re: Early Financial Independence. - Healthcare costs

Looking at our portfolio and our expenses, we are almost there or there for Financial Independence. So thinking should relax at work or take a few years off or call it done and retire early. However not able to get the head around the heal care insurance costs or the healthcare needs when we lose t...
by shess
Sat Nov 09, 2019 12:44 pm
Forum: Personal Consumer Issues
Topic: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?
Replies: 64
Views: 6412

Re: After 2 weeks on new job, I am wanting to return to my old job, this is a terrible idea right?

Don't be a flakey and quit after two weeks to return to your old boss. That just reflects poorly on you. You made your decision. Now live with it a little while to learn as much as possible and teach yourself a lesson not to do this again! I'm kind of agreeing with this. Not in a "Man up and stick ...
by shess
Sat Nov 09, 2019 12:35 pm
Forum: Personal Investments
Topic: Is Deferred Compensation Program Risky?
Replies: 19
Views: 2101

Re: Is Deferred Compensation Program Risky?

I'd definitely lighten up on company stock if I were you. A lot. Tell that to Gates, Bezos, and Zuckerberg! At their current asset level, I'm mixed - if the company stock goes to zero, they'll be hurt, but they can survive. They'll just have to make big changes to their lifestyle, though they'll st...
by shess
Fri Nov 08, 2019 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Seller's agent not letting us use a buyer's agent
Replies: 122
Views: 10539

Re: Seller's agent not letting us use a buyer's agent

I would have my agent present my offer directly to the homeowner. Let their agent explain to them why they cannot accept it. This. When we bought our current house, our agent and the seller's agent got [into an argument] over the daily allowance for taxes and interest due based on a closing date ch...
by shess
Fri Nov 08, 2019 12:45 pm
Forum: Investing - Theory, News & General
Topic: How often should someone rebalance?
Replies: 43
Views: 3160

Re: How often should someone rebalance?

Younger investors should .... Where would you roughly suggest this age to be? If people aren’t rebalancing, does that offer a chance of higher returns? And also more risk. Which is why you say it’s only for the young? I can't speak to the person who wrote that, but IMHO, the benefit to rebalancing ...
by shess
Fri Nov 08, 2019 12:22 pm
Forum: Investing - Theory, News & General
Topic: How often should someone rebalance?
Replies: 43
Views: 3160

Re: How often should someone rebalance?

I’m Using a 3 fund portfolio. And over the last few years I rebalance twice per year. These dates are set, and are unrelated to which day the market is up or down. Is twice per year too often or too few times per year to rebalance? I’m sure the data varies on this topic but what do the smart people...
by shess
Fri Nov 08, 2019 2:47 am
Forum: Investing - Theory, News & General
Topic: How often should someone rebalance?
Replies: 43
Views: 3160

Re: How often should someone rebalance?

I’m Using a 3 fund portfolio. And over the last few years I rebalance twice per year. These dates are set, and are unrelated to which day the market is up or down. Is twice per year too often or too few times per year to rebalance? I’m sure the data varies on this topic but what do the smart people...
by shess
Thu Nov 07, 2019 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: Weighing 0% LTCG rates versus tax-exempt munis.
Replies: 3
Views: 331

Re: Weighing 0% LTCG rates versus tax-exempt munis.

(*) As AGI increases, the marginal LTCG rate seems to be like 5%, then 22%, then 29%, then falls back to 16.5% for awhile. I think the 16.5% region is the medical-cost deduction's 10% limit plus 15% LTCG rates. A bunch of the difference is AOTC phase-out, but I think there's something else in there...
by shess
Thu Nov 07, 2019 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Weighing 0% LTCG rates versus tax-exempt munis.
Replies: 3
Views: 331

Weighing 0% LTCG rates versus tax-exempt munis.

I'm trying to figure out how to weigh the value of a tax-exempt muni fund I've held for awhile, when I'm also trying to pay 0% federal taxes. So far I have two obvious conclusions which don't agree with each other. Background: - retired, MFJ, kid at home, kid in college (AOTC). - no W2 income, livin...
by shess
Wed Nov 06, 2019 10:34 pm
Forum: Investing - Theory, News & General
Topic: Hidden liquidity risk with I-bonds
Replies: 43
Views: 4302

Re: Hidden liquidity risk with I-bonds

One benefit of CDs over I Bonds is that if you've been buying them for a few years, sticking with maturities of 7 years or less, you are likely to have CDs maturing periodically, and that contributes to liquidity for likely rebalancing scenarios. With a 30-year maturity, I Bonds don't have that sam...
by shess
Wed Nov 06, 2019 1:27 pm
Forum: Investing - Theory, News & General
Topic: Combine rollover IRA’s
Replies: 7
Views: 438

Re: Combine rollover IRA’s

If a roll both to a 401K, I should be eligible for backdoor Roth IRA again? To the extent that you have no other traditional IRA funds. My point about rolling in traditional IRA funds is that I was in a plan which allowed this, so I used that option to shift all of my pre-tax IRA funds to the 401k ...
by shess
Tue Nov 05, 2019 10:49 pm
Forum: Investing - Theory, News & General
Topic: 2020 I Bonds: what's your plan?
Replies: 19
Views: 1627

Re: 2020 I Bonds: what's your plan?

whodidntante wrote:
Tue Nov 05, 2019 10:40 pm
I wouldn't buy them at 0.5%. I will buy even less at 0.2%. :happy
I hear you, 2.22% composite rate isn't great. But it's competitive with 5-year CD rates, plus you don't pay state taxes, or any taxes at all until you redeem them, so they're a reasonable cash-reserve alternative.