Search found 759 matches

by ThriftyPhD
Sun Feb 10, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

My experience with Fidelity bank was terrible. Many transactions from other banks failed to go through. The Fidelity reps are hopeless, as they cannot explain anything about what happened, and they claim they cannot even see the transactions, so they cannot address anything. It sounds like you trie...
by ThriftyPhD
Sat Feb 09, 2019 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

My experience with Fidelity bank was terrible. Many transactions from other banks failed to go through. The Fidelity reps are hopeless, as they cannot explain anything about what happened, and they claim they cannot even see the transactions, so they cannot address anything. It sounds like you trie...
by ThriftyPhD
Fri Feb 01, 2019 8:47 pm
Forum: Personal Investments
Topic: VTTVX vs VTRS25
Replies: 2
Views: 166

Re: VTTVX vs VTRS25

https://institutional.vanguard.com/VGApp/iip/site/institutional/investments/productoverview?fundId=1677 Given the price ($36.10 on 1/31) and return since inception (4.2%), this seems to be what you have. Note that the -5.05% isn't the YTD return, it's the 1 year return. And that's as of 12/31/2018. ...
by ThriftyPhD
Sun Jan 06, 2019 11:54 am
Forum: Personal Investments
Topic: I now have a lot more traditional than Roth. Should I shift into Roth 401K ?
Replies: 47
Views: 2133

Re: I now have a lot more traditional than Roth. Should I shift into Roth 401K ?

You mean I should fund the entire $19K and $37K with pre tax (tax deferred) as I have been doing? And ignore all the Roth stuff with the 401K? Of course, I'll keep doing backdoor Roth IRA too. Yes, that is likely best. What about this? This is confusing me because this new tax deduction didn't exis...
by ThriftyPhD
Sat Jan 05, 2019 9:53 pm
Forum: Personal Investments
Topic: I now have a lot more traditional than Roth. Should I shift into Roth 401K ?
Replies: 47
Views: 2133

Re: I now have a lot more traditional than Roth. Should I shift into Roth 401K ?

I'll avoid what others have covered, but point out that doing a "backdoor" Roth IRA or "mega backdoor" Roth 401k (if your plan allows it), is almost always a good idea. When you are deciding between tax-deferred and not-tax-deferred contributions, you are making a decision about today's tax rate ve...
by ThriftyPhD
Sat Jan 05, 2019 9:29 pm
Forum: Personal Consumer Issues
Topic: How old is too old to buy a house?
Replies: 50
Views: 4114

Re: How old is too old to buy a house?

Do you like tinkering, fixing things, troubleshooting problems? Are you handy? If not, you might not like actually owning a home. This is what professionals are for, imho. You will not see me messing with plumbing or electrical tools. Same, but it's still more work. When renting, I would call my la...
by ThriftyPhD
Sat Jan 05, 2019 8:40 pm
Forum: Personal Investments
Topic: I now have a lot more traditional than Roth. Should I shift into Roth 401K ?
Replies: 47
Views: 2133

Re: I now have a lot more traditional than Roth. Should I shift into Roth 401K ?

So unless you are expecting your tax deferred balances to reach $2.1 million or above from their CURRENT balances by the time you reach age 70, you are better off contributing to the traditional 401(k) now. In practical terms, it usually means that the tax-deferred balances should be around $1.5 mi...
by ThriftyPhD
Sat Jan 05, 2019 6:15 pm
Forum: Personal Consumer Issues
Topic: How old is too old to buy a house?
Replies: 50
Views: 4114

Re: How old is too old to buy a house?

I think a lot of responses are considering the financial angle (makes sense given the focus of this forum), and they're not wrong. People buy homes all the time at that age. If you have the funds, you'll be fine. Another consideration is that you've never owned a home before. At 67, you would be exp...
by ThriftyPhD
Fri Jan 04, 2019 7:49 pm
Forum: Personal Consumer Issues
Topic: Paying (paper) cash for daily transactions
Replies: 83
Views: 3790

Re: Paying (paper) cash for daily transactions

Paying by credit card incurs meaningful costs on the seller. I pay cash for a lot of purchases. Locally, it saves the businesses a little in fees and I figure bigger picture, cash results in less money siphoned off by the financial system. Cash incurs costs for the retailer too. The business needs ...
by ThriftyPhD
Sun Dec 30, 2018 2:31 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces said in 2016 that IRS auditors disapproved of backdoor Roth IRAs
Replies: 249
Views: 41043

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

And for those high earners with a high savings rate , I frankly doubt that use of backdoor Roth IRAs is going to really move the needle that much for them anyway. There simply isn't a huge benefit in having $6k (in 2019) in a Roth account when you're saving 10 or 20 times that much in other account...
by ThriftyPhD
Thu Dec 27, 2018 9:17 pm
Forum: Investing - Theory, News & General
Topic: Are Index Funds Still Best?
Replies: 22
Views: 1544

Re: Are Index Funds Still Best?

They charge no fees to trade and offer fractional shares. Unless I misunderstand it, with M1, I could theoretically invest a couple thousand in my account and have it buy partial shares of a hundred or more stocks / ETFs. So, say I wanted to track the S&P 500. I could buy an ETF that does this. Or,...
by ThriftyPhD
Mon Dec 24, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Unable to do Regular or Backdoor Roths
Replies: 18
Views: 1251

Re: Unable to do Regular or Backdoor Roths

How many years until retirement? If 30 years, it might be worth even a lot of hassle. If you're retiring next year, getting $5.5k into a Roth isn't going to make a difference. How much the hassle is depends on your 401ks. I had to roll my wife's rollover IRA into her 401k. It was a single page form ...
by ThriftyPhD
Sun Dec 23, 2018 10:39 pm
Forum: Investing - Theory, News & General
Topic: How is Vanguard Prime Money Market earning over 2%
Replies: 29
Views: 4760

Re: How is Vanguard Prime Money Market earning over 2%

I’ve been advised to use Vanguard Prime Money Market Fund however according to the Performance page it’s earning under 2% annually - less than I earn from the bank. Can someone shed some light on this? At any given time, you should select a cash-like investment for the highest after-tax earnings. A...
by ThriftyPhD
Sun Dec 23, 2018 10:20 pm
Forum: Investing - Theory, News & General
Topic: How is Vanguard Prime Money Market earning over 2%
Replies: 29
Views: 4760

Re: How is Vanguard Prime Money Market earning over 2%

Also the Money Market Mutual Fund doesn't have the bank's FDIC insurance. Interesting that a year or two ago,this MM fund had a yield lower than what the S&P 500 Index Mutual Fund had at the time,now it has more and that helps explain why new money is relatively more attracted to the Money Market F...
by ThriftyPhD
Fri Dec 21, 2018 9:46 am
Forum: Investing - Theory, News & General
Topic: Just how good is I-bonds' nominal guarantee during deflation?
Replies: 29
Views: 2974

Re: Just how good is I-bonds' nominal guarantee during deflation?

Under what macro scenarios will a 5 year TIPS beat a 5 year treasury, given both are priced on inflation expectations. And how is this not trying to beat the market. Why "overweight" TIPS I believe TIPS will outperform when there is more inflation than expectations. As you said, they're priced base...
by ThriftyPhD
Thu Dec 20, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

Fidelity's credit card is 2% cash back on all categories. I've asked above, I'll ask again. Do you have a link to a card I can apply for that has > 2% cash back on general spend? If so, I want to sign up. Please provide a link to a credit card signup. I use the Fidelity card myself, but - * Alliant...
by ThriftyPhD
Thu Dec 20, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

Fidelity's credit card is 2% cash back on all categories. I've asked above, I'll ask again. Do you have a link to a card I can apply for that has > 2% cash back on general spend? If so, I want to sign up. Please provide a link to a credit card signup. I use the Fidelity card myself, but - * Alliant...
by ThriftyPhD
Thu Dec 20, 2018 9:38 am
Forum: Investing - Theory, News & General
Topic: Mega Backdoor Roth - difference between converting to Roth IRA vs Roth 401k?
Replies: 6
Views: 599

Re: Mega Backdoor Roth - difference between converting to Roth IRA vs Roth 401k?

For point 5, this is irrelevant if my after-tax contributions are immediately converted to the Roth 401k, correct? That's what I assume would be happening under my plan if I choose the auto-convert option. Correct. If the amounts are converted right away after each paycheck, then there won't be muc...
by ThriftyPhD
Thu Dec 20, 2018 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

There's absolutely no reason to want banking and investment in the same place. I find it interesting that people are willing to endure a significant financial cost for the illusion of simplification. What "significant" cost are you talking about in the OP's case? Maybe I missed it. [OT comment remo...
by ThriftyPhD
Wed Dec 19, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

Okay one example. Anyone who knows anything about credit cards knows that 2% cash back is the baseline worst case scenario (unless you are getting a signup bonus, or are using some other features). The Fidelity card is a sockdrawer card. What card do you use that provides >2% cash back in all categ...
by ThriftyPhD
Wed Dec 19, 2018 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 259
Views: 28209

Re: Fidelity as a one stop shop

Not to continue the war of "My brokerage can beat up your brokerage" going on in this thread.. ..but I have been using Merrill Edge/BoA as a one stop shop for the past 3 months and it has been amazing. I like having a physical bank (and free safety deposit box) nearby. The criticism of BoA/ME is th...
by ThriftyPhD
Wed Dec 19, 2018 6:43 pm
Forum: Investing - Theory, News & General
Topic: Mega Backdoor Roth - difference between converting to Roth IRA vs Roth 401k?
Replies: 6
Views: 599

Re: Mega Backdoor Roth - difference between converting to Roth IRA vs Roth 401k?

Benefit of going to Roth IRA: More investment options. You're not at the mercy of the funds selected by your company, which can change at any time. You can access the Roth IRA while still working for your employer. If you need the money, you can withdraw the basis (money you put in) tax and penalty ...
by ThriftyPhD
Tue Dec 18, 2018 8:49 pm
Forum: Investing - Theory, News & General
Topic: I feel cheated, saved too much in 401K vs cash.
Replies: 74
Views: 10169

Re: I feel cheated, saved too much in 401K vs cash.

I'm 66 and am regretting I have put too much in IRA and 401k and not enough in Roth and taxable. My tax rates are higher now than in many of my working years. I wish someone had told me when I was younger that the order of investment is: 401k up to the match, HSA (If eligible), Roth, and taxable. T...
by ThriftyPhD
Tue Dec 18, 2018 7:52 pm
Forum: Personal Consumer Issues
Topic: Stand up desks: Jarvis vs UpLift vs ?? (Help me shop)
Replies: 34
Views: 1904

Re: Stand up desks: Jarvis vs UpLift vs ?? (Help me shop)

I spent some time looking into these. As someone already pointed out, the two you are considering are the top two ranked by The Wirecutter . I think either would be a good choice, so I would go by which has the look/features most appealing to you. Thanks for the link. Good stuff. Which one did you ...
by ThriftyPhD
Tue Dec 18, 2018 7:19 am
Forum: Personal Consumer Issues
Topic: Stand up desks: Jarvis vs UpLift vs ?? (Help me shop)
Replies: 34
Views: 1904

Re: Stand up desks: Jarvis vs UpLift vs ?? (Help me shop)

I spent some time looking into these. As someone already pointed out, the two you are considering are the top two ranked by The Wirecutter. I think either would be a good choice, so I would go by which has the look/features most appealing to you.
by ThriftyPhD
Fri Dec 14, 2018 7:23 pm
Forum: Personal Investments
Topic: Taxable Account - Index Mutual Fund vs ETF
Replies: 14
Views: 838

Re: Taxable Account - Index Mutual Fund vs ETF

The mutual fund and ETF versions of either fund are equally tax efficient. This is true for Vanguard, but given the expense ratios I think the OP might be talking about Fidelity. In that case, the ETF might be more tax efficient if the mutual fund is distributing capital gains. I'm having a hard ti...
by ThriftyPhD
Tue Dec 11, 2018 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Comparing short-term borrowing cost: Interactive Brokers vs. Fidelity
Replies: 13
Views: 989

Re: Comparing short-term borrowing cost: Interactive Brokers vs. Fidelity

If you invested while paying off the house, you invested with borrowed money. Not sure how your original comment addressed the OP's question about Margin differences. So I should have given up on my employer match of my 401k and paid off my house. That wouldn't be prudent. Exactly the point, it wou...
by ThriftyPhD
Mon Dec 10, 2018 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Comparing short-term borrowing cost: Interactive Brokers vs. Fidelity
Replies: 13
Views: 989

Re: Comparing short-term borrowing cost: Interactive Brokers vs. Fidelity

What's your reason for the short term debt? I think your calculations make sense. I moved a large portion of my savings to a new bank and suddenly I needed cash while they were on hold for 5 days. That is poor planning. Your actual cash held up for 5 days and now you are thinking about the possible...
by ThriftyPhD
Mon Dec 10, 2018 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Comparing short-term borrowing cost: Interactive Brokers vs. Fidelity
Replies: 13
Views: 989

Re: Comparing short-term borrowing cost: Interactive Brokers vs. Fidelity

I don't find it prudent to invest with borrowed money. The lender finds it more profitable to lend then invest. You sure? You didn't invest while paying off a house? I certainly did, and found it quite prudent. :Yes I invested wile paying off a house. I also can't predict the future. I only buy and...
by ThriftyPhD
Mon Dec 10, 2018 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: are pre-fabricated / manufactured homes a bad investment?
Replies: 99
Views: 6841

Re: are manufactured homes a bad investment?

Thread title is manufactured homes. Why are people assuming this means mobile? My assumption is that these are prefab modular homes. Trailers are something different. By law a manufactured home is a trailer. I explained it several times, with links and foot notes. Yes. One of those times what when ...
by ThriftyPhD
Sun Dec 09, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: 23 years old 40K saved. What would you do?
Replies: 39
Views: 3413

Re: 23 years old 40K saved. What would you do?

I wouldn't consider paying off your parent's mortgage. You're in school now. The next step will be getting a job. That might include flying to different cities to interview (flight, motel, food). This might be reimbursed by the interviewing company, but not always. And even if reimbursed you might n...
by ThriftyPhD
Sun Dec 09, 2018 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: are pre-fabricated / manufactured homes a bad investment?
Replies: 99
Views: 6841

Re: are pre-fabricated homes a bad investment?

I like the idea of pre-fab. Built in a climate controlled location, assembly line style. Delivered in 1-2 days and assembled, never being exposed to the weather. Not limited by whatever local assembly crew is available, no hurry to finish before the seasons change, etc. The stigma is what concerns m...
by ThriftyPhD
Sun Dec 09, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: are pre-fabricated / manufactured homes a bad investment?
Replies: 99
Views: 6841

Re: are manufactured homes a bad investment?

Thread title is manufactured homes. Why are people assuming this means mobile? My assumption is that these are prefab modular homes. Trailers are something different.
by ThriftyPhD
Sun Dec 02, 2018 6:01 pm
Forum: Personal Investments
Topic: Fidelity Money Market Funds for everyday expenses
Replies: 101
Views: 16844

Re: Fidelity Money Market Funds for everyday expenses

SPRXX looks like Fidelity's highest-yield, taxable, retail MM fund. Not quite as good as Vanguard's prime money market, though. Fidelity Money Market Fund (SPRXX), current SEC Yield = 2.09%. Vanguard Prime Money Market Fund (VMMXX) current SEC Yield = 2.30%.. How would one use VMMXX for everyday ex...
by ThriftyPhD
Fri Nov 30, 2018 10:09 pm
Forum: Personal Consumer Issues
Topic: Encrypted messaging: Threema vs Wickr
Replies: 16
Views: 1214

Re: Encrypted messaging: Threema vs Wickr

What protocol do the people you want to contact use? I can research messaging apps for weeks, but if the person I need to contact insists on an app because it has the best emoticons, then I wasted my time.
by ThriftyPhD
Thu Nov 29, 2018 9:34 am
Forum: Personal Consumer Issues
Topic: Food budget based on government assistance or CPI
Replies: 16
Views: 1536

Re: Food budget based on government assistance or CPI

OK, those of you who are spending less than the thrifty plan amount INCLUDING restaurant meals - how are you managing it? Where I live you cant take a family of 4 out to any real sit down restaurant - even a chain - for less than $70-100 a pop. And that's with the kids still eating off the kids men...
by ThriftyPhD
Mon Nov 26, 2018 10:04 am
Forum: Personal Investments
Topic: 401k/taxable dilemma
Replies: 27
Views: 2278

Re: 401k/taxable dilemma

If she is W2, how are you going to open a solo 401k? I guess I misread something. It was awhile ago I looked at it. Now that you mention it I believe when I considered doing this a couple years back I suggested putting her on a 1099 and was told the IRS frowns on putting family members/spouses on a...
by ThriftyPhD
Thu Nov 22, 2018 2:43 pm
Forum: Personal Investments
Topic: A few questions on VTWSX [Vanguard Total World Stock]
Replies: 13
Views: 1968

Re: A few questions on VTSMX [Vanguard Total Stock Market Index]

VTSMX is the same fund as VTSAX, the first being the investor share and the latter the admiral share. Both are Total US Stock Market Index. Perhaps you meant Vanguard Total World Stock Index Fund Investor Shares - VTWSX ? [Edit] Looks like you fixed the VTSMX -> VTWSX issue while I was replying[/Ed...
by ThriftyPhD
Wed Nov 21, 2018 12:36 am
Forum: Personal Investments
Topic: Developing Complete Plan for Windfall
Replies: 37
Views: 3133

Re: Developing Complete Plan for Windfall

Desired Asset allocation: 60% stocks / 40% bonds, but open to allocating up to 75%+ if entering at the beginnings of the next long-term cycle. How will you know when you're in the beginning of the next long-term cycle? Will you know in the moment, or only a couple year after the 'cycle' has started...
by ThriftyPhD
Wed Nov 21, 2018 12:01 am
Forum: Personal Investments
Topic: What's the difference between these two Vanguard treasury mutual funds?
Replies: 3
Views: 609

Re: What's the difference between these two Vanguard treasury mutual funds?

A1: Product summary This fund invests in debt issued directly by the government in the form of Treasury bills. A key risk of the fund is the fact that changes in interest rates can eventually lead to a decrease in income for the fund. The fund has a reduced risk of default, since the bonds in the po...
by ThriftyPhD
Mon Nov 19, 2018 11:31 am
Forum: Personal Finance (Not Investing)
Topic: parents buying home for sibling
Replies: 44
Views: 5767

Re: parents buying home for sibling

I’m curious if this rather wholesome “stay out of it” advice will extend to the inevitable situation where this sibling find themselves and their parents flat broke and homeless? After all, scraping together a down payment is required for a reason... it serves to prove some modicum of financial dis...
by ThriftyPhD
Fri Nov 09, 2018 11:41 pm
Forum: Investing - Theory, News & General
Topic: Vanguard closure last week
Replies: 21
Views: 4778

Re: Vanguard closure last week

Seriously, I don't understand why those unhappy with VG don't spend their time more productively by moving their accounts elsewhere as opposed to complaining. There are other solutions than simply leaving. If Vanguard is an otherwise good broker, but has something you don't like, doesn't it make se...
by ThriftyPhD
Fri Nov 09, 2018 12:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard closure last week
Replies: 21
Views: 4778

Re: Vanguard closure last week

Seriously, I don't understand why those unhappy with VG don't spend their time more productively by moving their accounts elsewhere as opposed to complaining. There are other solutions than simply leaving. If Vanguard is an otherwise good broker, but has something you don't like, doesn't it make se...
by ThriftyPhD
Wed Nov 07, 2018 7:12 pm
Forum: Personal Consumer Issues
Topic: How to Encrypt a Text file?
Replies: 53
Views: 4079

Re: How to Encrypt a Text file?

Depending on what you are actually trying to protect and how computer command line illiterate/savvy you are, I would reconsider the ask for a GUI on top of OpenSSL. The more layers of software you add (from potentially unknown sources, with unknown bugs or “features”), the more you are putting your...
by ThriftyPhD
Tue Nov 06, 2018 8:32 pm
Forum: Personal Consumer Issues
Topic: How to Encrypt a Text file?
Replies: 53
Views: 4079

Re: How to Encrypt a Text file?

Sorry, I can't really help you out. I'm far from an expert, so far I've used it rather sparingly, and everything I've done is from the command line. I've never used the GUI.
by ThriftyPhD
Tue Nov 06, 2018 7:33 pm
Forum: Personal Consumer Issues
Topic: How to Encrypt a Text file?
Replies: 53
Views: 4079

Re: How to Encrypt a Text file?

https://www.gpg4win.org/ This sounds interesting. gpg4usb looks similar and portable. So you just encrypt with your own public key (rather than someone else's as normally intended)? Where/how do you safely keep the private key? Yes, you could encrypt with your public key and decrypt with your priva...
by ThriftyPhD
Tue Nov 06, 2018 7:20 pm
Forum: Personal Consumer Issues
Topic: Paper or Paperless? How and what financial records do you keep?
Replies: 51
Views: 3943

Re: Paper or Paperless? How and what financial records do you keep?

As 2018 is coming to a close I'm thinking about ditching this system and shredding it all and going to a paperless recordkeeping system. Something that is very easy but still maintains the records that I need. I did buy a Fujitsu ScanSnap last year that I mainly use for digitizing textbooks for wor...
by ThriftyPhD
Mon Nov 05, 2018 7:26 pm
Forum: Personal Consumer Issues
Topic: Furnace Duct Cleaning-a high profit game?
Replies: 31
Views: 3440

Re: Furnace Duct Cleaning-a high profit game?

https://www.epa.gov/indoor-air-quality-iaq/should-you-have-air-ducts-your-home-cleaned Duct cleaning has never been shown to actually prevent health problems. Neither do studies conclusively demonstrate that particle (e.g., dust) levels in homes increase because of dirty air ducts. This is because m...