Search found 48 matches

by WhyAmeriprise
Wed Jun 13, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: How to Calculate the Necessary Nest Egg?
Replies: 15
Views: 2197

Re: How to Calculate the Necessary Nest Egg?

Search the forum for "25x" and browse the threads and posts on the subject. aloha j There we go; I can get my mind around a calculator! 25x and a few customizations in the calculator(s) should drive the plan. I didn't ask for a portfolio review because I just moved $125k from Ameriprise to Merrill ...
by WhyAmeriprise
Wed Jun 13, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: How to Calculate the Necessary Nest Egg?
Replies: 15
Views: 2197

Re: How to Calculate the Necessary Nest Egg?

Are you concerned about how much life insurance you need if you drop dead tomorrow? Or are you concerned about how much money you need to have saved in 20 years? Or both? Both. I have $1m 20-year term now, and if I get a second policy I could add another $1m of 20-year term. I'm being pushed to sig...
by WhyAmeriprise
Tue Jun 12, 2018 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2924
Views: 576635

Re: What's Your Credit Card Rewards Strategy?

The "annoying" thing, IMHO, is that when you transfer $100k in, you have to wait for the rewards benefits to phase in because the rewards tier is based on a rolling three month average. I'm only at Platinum Rewards still, because my average is only at $84k this month. Trivia tidbit: With respect to...
by WhyAmeriprise
Tue Jun 12, 2018 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2924
Views: 576635

Re: What's Your Credit Card Rewards Strategy?

Thanks to the bonus from their Preferred Rewards program, I'm all-in on the BofA/ME approach. BofA Cash Rewards (5.25% gas, 3.5% groceries/Costco) BofA Premium Rewards (3.5% dining/travel, 2.62% general spend) With $100k at BofA/Merrill, the two cards you mentioned give you tremendous simplicity on...
by WhyAmeriprise
Tue Jun 12, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: How to Calculate the Necessary Nest Egg?
Replies: 15
Views: 2197

Re: How to Calculate the Necessary Nest Egg?

Are you planning on following your parents' lead, even though you probably do have it? I don't feel the need to push or overly stretch myself to give children what I didn't have. I'm OK with kids having student loans. My spouse is not on board with that philosophy. I'm concerned with the FAFSA proc...
by WhyAmeriprise
Tue Jun 12, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: How to Calculate the Necessary Nest Egg?
Replies: 15
Views: 2197

Re: How to Calculate the Necessary Nest Egg?

Spouse is 42; has about $560k insurance through their employer. Spouse resumed smoking, and BMI is higher than mine, which makes the life insurance rather expensive. That's another reason to put retirement savings in both of our names. IRA for me, IRA for spouse. My understanding was that we could o...
by WhyAmeriprise
Tue Jun 12, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: How to Calculate the Necessary Nest Egg?
Replies: 15
Views: 2197

How to Calculate the Necessary Nest Egg?

I started the ball moving... moved a large chunk into ETFs where I don't pay for advisors, and in the process made my backdoor Roth IRA contribution for 2017 and 2018. Spouse also has a Fidelity IRA using their ETFs, 2017 and 2018 Backdoor Roth IRA. At 48, I planned to just get $250k 20-year term be...
by WhyAmeriprise
Thu Apr 05, 2018 12:04 pm
Forum: Investing - Help with Personal Investments
Topic: Edward Jones
Replies: 26
Views: 4117

Re: Edward Jones

I have taxable American funds with EJ that have ER about .6 of which they get 25% of that fee. Have not seen trading fees when TLH . They do offer more managed service for about 1.2% but I don't subscribe. Still get to converse with my local advisor. Other 50% of my portfolio in tax deferred in Van...
by WhyAmeriprise
Thu Apr 05, 2018 5:57 am
Forum: Investing - Help with Personal Investments
Topic: Cash Arrived At Roth - Buy Three-Funds and Done?
Replies: 7
Views: 676

Cash Arrived At Roth - Buy Three-Funds and Done?

I've been waiting for the 2017 and 2018 deposits, transfers and conversions, and this morning the cash showed up at Merrill Edge (ME) RothIRA. From the reading, I should just get this $125k cash invested, and the three-fund portfolio appears to be the ticket: Vanguard Total Stock Market Index Fund A...
by WhyAmeriprise
Thu Apr 05, 2018 5:26 am
Forum: Investing - Help with Personal Investments
Topic: Fee-only vs Fee-Based , Outright lieing?
Replies: 18
Views: 2681

Re: Fee-only vs Fee-Based , Outright lieing?

The AUM fee is an easy way for an advisor to earn money year over year, without doing anything, as others have noted. My former FA made claims that my portfolio needed work. When pushed for details, he was figuring that I had cash from a prior investment that I'd sold that he wanted to invest. I'd g...
by WhyAmeriprise
Wed Apr 04, 2018 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: Financial Advisor fees? Am I paying too much?
Replies: 54
Views: 5360

Re: Financial Advisor fees? Am I paying too much?

Well, after leaving my own FA nightmare, the advisor fee was only the first piece of it. Did you look at the Expense Ratio (ER) on the funds your advisor recommended? Did you look at the fees that are charged? 1.55% is probably only the start of the fees and/or expenses, all of which drag down the g...
by WhyAmeriprise
Wed Apr 04, 2018 5:37 pm
Forum: Investing - Help with Personal Investments
Topic: Who uses Schwab and what are the up and downsides?
Replies: 41
Views: 3620

Re: Who uses Schwab and what are the up and downsides?

I have a brokerage account at Schwab that right now has $1100 in it, after the $100 bonus for opening it. It's a taxable account, and they will likely get to keep my taxable investing, but the taxable investing will be low. I like their research data that I have access to, probably better than Merri...
by WhyAmeriprise
Sun Mar 25, 2018 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: Need quick IRA transfer advice
Replies: 24
Views: 1092

Re: Need quick IRA transfer advice

ResearchMed - I don't know what you mean by 'cash'. When I was at the b&m yesterday I was told that the bank didn't offer an IRA account that I could let the non-renewed IRA CDs go into - they would no longer be IRA. According to the rep, to keep them as IRAs my choices were to let the CDs renew or...
by WhyAmeriprise
Wed Mar 21, 2018 6:00 am
Forum: Investing - Help with Personal Investments
Topic: Schwab Intelligent Advisory
Replies: 23
Views: 3169

Re: Schwab Intelligent Advisory

Has anyone here outperformed with Schwab Intellifent Advosory recommended portfolios? How would you define "outperform"? After all, with contributions every few weeks, how would one even know? A true comparison would be investing the same amounts on the same days I suppose, but then .... If one por...
by WhyAmeriprise
Tue Mar 20, 2018 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: Impending market correction
Replies: 28
Views: 2231

Re: Impending market correction

Corrections are a great opportunity to buy low... Corrections can also be a good opportunity to get rid of losers in the portfolio, even if not buying with new funds. A Correction can also be used to take advantage of the justification to look at your portfolio. In my case, I had funds that were ba...
by WhyAmeriprise
Tue Mar 20, 2018 9:05 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth for both 2018 AND 2017 Contributions
Replies: 9
Views: 970

Re: Backdoor Roth for both 2018 AND 2017 Contributions

Note: if you've never done the Backdoor Roth, and you're financially able, now is a great time to make one contribution for 2017 and another for 2018. I'm not sure about the "never done" comment, but you can set up a tIRA for 2017 until the day taxes are due for the prior year. If you have enough m...
by WhyAmeriprise
Thu Mar 15, 2018 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Capital One Investing Changing to E-Trade - Anyone Moving?
Replies: 13
Views: 5914

Re: Capital One Investing Changing to E-Trade - Anyone Moving?

I would fully expect that anything connected with trading/brokerage is all included.
by WhyAmeriprise
Sat Feb 17, 2018 12:13 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking of ditching my FA; UPDATE
Replies: 24
Views: 2980

Re: Why make it complicated?

I don’t understand why you are having Ameriprise do the Roth conversion; just do a conversion from IRA to Merrill Edge IRA and do the conversion there. any problems can be taken care of with them....and you wouldn’t be hit with another account closing fee by Ameriprise :( Simple exit from Ameripris...
by WhyAmeriprise
Sat Feb 17, 2018 6:46 am
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 97
Views: 8382

Re: Why paying off loans would be better than fully funding 401k?

Forgot to mention that we do have 529 plans for both kids. Not a ton in there and no new contributions going in. Have to get our finances in order before funding 529. He might have to delay college a year or 2. he can work and save if he really wants to go. Wow. To frame your budget numbers another...
by WhyAmeriprise
Sat Feb 17, 2018 6:33 am
Forum: Investing - Help with Personal Investments
Topic: Thinking of ditching my FA; UPDATE
Replies: 24
Views: 2980

Re: Thinking of ditching my FA

I called him on January 29th and expressed to the FA that I thought the time was right to pay the surrender charge on the variable annuity inside of a Roth IRA , to buy the right products. He talked me out of my decision, said that there was nothing wrong with the RAVA inside of a Roth IRA, and the...
by WhyAmeriprise
Tue Feb 13, 2018 5:18 am
Forum: Investing - Help with Personal Investments
Topic: Why paying off loans would be better than fully funding 401k?
Replies: 97
Views: 8382

Re: Help with what to do, pay debt, fund 401k, EF? TLH of taxable to fund one of these

I was thinking of the same thing. Once I pay this CC off was going to use it for normal purchases to rack up points and pay it off each month. I have used those points in the past to get tickets as low as $90 per person. Our next trip in April tickets were $608 per person! Wish I had points now, bu...
by WhyAmeriprise
Mon Feb 12, 2018 10:32 pm
Forum: Investing - Help with Personal Investments
Topic: Add to Non-Deductible IRA, Then Convert to Roth
Replies: 5
Views: 509

Re: Add to Non-Deductible IRA, Then Convert to Roth

Seems about right. I believe the taxes on the "cash conversion" are based on the pro-rated return of your global Roth, so if the Roth grows in the day(s) it takes to convert, you may see some taxes. Everything is in cash now. The $90k was a RAVA with proprietary subaccounts and I took "advantage" o...
by WhyAmeriprise
Mon Feb 12, 2018 10:25 pm
Forum: Investing - Help with Personal Investments
Topic: Add to Non-Deductible IRA, Then Convert to Roth
Replies: 5
Views: 509

Re: Add to Non-Deductible IRA, Then Convert to Roth

Tell us about your Form 8606 that you have filled out in the past and the new one you are going to fill out. I'm not sure why you are writing about a $5500 contribution to a 401(k) at work. My bad there. The 401k at work is just purring along, contributing enough to get their match. I have to dig o...
by WhyAmeriprise
Mon Feb 12, 2018 10:01 pm
Forum: Investing - Help with Personal Investments
Topic: Add to Non-Deductible IRA, Then Convert to Roth
Replies: 5
Views: 509

Add to Non-Deductible IRA, Then Convert to Roth

I believe I have my ducks in a row, but wanted to get feedback on the plan. I have a small $4.5k IRA that wasn't deducted years ago. Amerprise recorded it as Qualified. $4k was the original contribution many years ago. Performance was not its strong suit. #1 thing I thought was that for simplicity I...
by WhyAmeriprise
Mon Feb 12, 2018 9:39 pm
Forum: Investing - Help with Personal Investments
Topic: Help me NOT pay for a financial planner!
Replies: 15
Views: 2048

Re: Help me NOT pay for a financial planner!

What happens after the free meeting? Is it free to tell the planner your story, but it costs to have a plan developed? That's not a bad model, and depending on the cost and the planner it might be worth it. Or not, it the planner if selling annuities. As mentioned above, make sure you practice your...
by WhyAmeriprise
Sat Feb 10, 2018 12:14 am
Forum: Investing - Help with Personal Investments
Topic: For the millionth time - Should I consider an investment advisor?
Replies: 10
Views: 1559

Re: For the millionth time - Should I consider an investment advisor?

No, you don't need a fee-based advisor who claims over 1% of your account as an Assets Under Management fee. There are some holdouts that believe they can get away with it, but if you've found your way to Bogleheads, you can move into Index Funds and end up getting better returns than FAs who try to...
by WhyAmeriprise
Fri Feb 09, 2018 11:39 pm
Forum: Investing - Help with Personal Investments
Topic: 0% 18/MO.Balance Transfer w/2% fee
Replies: 17
Views: 1227

Re: 0% 18/MO.Balance Transfer w/2% fee

You have to figure in the opportunity cost in terms of the hard credit inquiry and carrying a balance that gets reported to credit agencies, hurting your score until it gets paid down. The hard inquiry is worth something like $250. I received three offers from PNC for 2% fees. They're on existing c...
by WhyAmeriprise
Fri Feb 09, 2018 10:36 pm
Forum: Investing - Help with Personal Investments
Topic: 0% 18/MO.Balance Transfer w/2% fee
Replies: 17
Views: 1227

Re: 0% 18/MO.Balance Transfer w/2% fee

What are some opinions on using this to invest? I can't think of many situations where I would agree to the 2% fee. The only possible exceptions might be where the investment has to be made NOW, such as a calendar-year contribution, and only up to the required amount, and only if I could rationaliz...
by WhyAmeriprise
Fri Feb 09, 2018 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking of ditching my FA; UPDATE
Replies: 24
Views: 2980

Re: Thinking of ditching my FA

By the way I have not heard from my FA at all during this recent 'correction'. I recently "woke up", started looking at the statements, and was not satisfied with my FA's performance. He was "cheap" in that he wanted $750/yr for fee-based advising, but he'd put you into variable annuity products if...
by WhyAmeriprise
Mon Feb 05, 2018 11:13 pm
Forum: Investing - Help with Personal Investments
Topic: Flat Rate Advisors
Replies: 1
Views: 238

Re: Flat Rate Advisors

If you know you're spending down the investments, paying a fixed fee does equal a larger percentage as time goes on. The annual fee may not be the only fee you're paying in one way or another, because the actions that they recommend may earn them a commission or other bonus. With any advisor, you ne...
by WhyAmeriprise
Mon Feb 05, 2018 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: Today was a Really Bad Day
Replies: 278
Views: 50240

Re: Today was a Really Bad Day

Today was just what I needed to re-open the dialog with the Financial Advisor. I reiterated that if the market was correcting downwards, that it made no sense to stay in a proprietary account with proprietary subaccounts. If the market will bounce back from the "minor bump", then why wouldn't I want...
by WhyAmeriprise
Sun Feb 04, 2018 5:33 am
Forum: Investing - Help with Personal Investments
Topic: Today was a Really Bad Day
Replies: 278
Views: 50240

Re: Today was a Really Bad Day

Thursday, Friday, and it looks like Monday are all bad days. The salesperson at Ameriprise talked me out of paying the 1.5% surrender charge on the RAVA I want to ditch on Tuesday. My point to him was that I knew the selloff was coming, and that I'd be paying 1.5% one way or another. I still get to ...
by WhyAmeriprise
Wed Jan 24, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: fidelity visa- is opening bonus worth it over Citi?
Replies: 35
Views: 2427

Re: fidelity visa- is opening bonus worth it over Citi?

Alexa9 wrote:
Wed Jan 24, 2018 3:48 pm
Citi's website is much better. But Fidelity has a great no foreign fee debit card.
I don't think you can go wrong with either one.
Or both! :twisted:
by WhyAmeriprise
Wed Jan 24, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: fidelity visa- is opening bonus worth it over Citi?
Replies: 35
Views: 2427

Re: fidelity visa- is opening bonus worth it over Citi?

I looked at the Paypal card too since i have a paypal account, but i think i eliminated it because of security issues. Just last week i reported two phishing emails to spoof email account. Since i don't do a lot with paypal, it is easy to recognize these spam messages. I know security is a factor e...
by WhyAmeriprise
Wed Jan 24, 2018 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: fidelity visa- is opening bonus worth it over Citi?
Replies: 35
Views: 2427

Re: fidelity visa- is opening bonus worth it over Citi?

Between Citi Double Cash MC and Fidelity Visa, if you don't otherwise deal with Fidelity, Citi wins for ease. (because there is no other relationship required) The Fidelity Visa is serviced by US Bank, if I recall correctly, and they've always been pleasant when I called in for service on other card...
by WhyAmeriprise
Tue Jan 23, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 249
Views: 36651

Re: Does anyone here with net worths north of $1 mil use financial advisors?

The 1% AUM fee I will pay is worth the peace of mind knowing my wife and kids will be able to go on with life and not have to worry about how to manage this much money if I suddenly kick the bucket. If you're handling so much on your own now, why not just make the plans known, but keep on doing you...
by WhyAmeriprise
Mon Jan 22, 2018 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Swapping out VUL for Term
Replies: 2
Views: 327

Re: Swapping out VUL for Term

I would not cancel it until you have the new policy in place. Of course! I'm not going to cancel until the new policy is completely through underwriting. The question is if I can/should do anything regarding the premiums, whether to continue paying monthly as-is, draw down some of the investments i...
by WhyAmeriprise
Sun Jan 21, 2018 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Swapping out VUL for Term
Replies: 2
Views: 327

Swapping out VUL for Term

I've crunched the numbers and it makes no sense to keep the VUL that I've had for many years. 16 years since they recommended I bump it up to $250k. The VUL has some cash value, but I am separating from my FA. I've gotten a few quotes for 20-year level term for $250k and it's the same amount that th...
by WhyAmeriprise
Sun Jan 21, 2018 10:43 pm
Forum: Investing - Help with Personal Investments
Topic: which Brokerage do you use...why?
Replies: 48
Views: 6399

Re: which Brokerage do you use...why?

I'm a little confused by Schwab. It seems I was able to open the brokerage account, but not the checking that I thought they'd open at the same time. Their chat rep said that there are two options, one that is tied to the brokerage, and the other one is Schwab Bank. What do folks use, if you use Sch...
by WhyAmeriprise
Sun Jan 14, 2018 1:15 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover Amerirprise 403(b) / Move to Vanguard 403(b)
Replies: 14
Views: 1119

Re: Rollover Amerirprise 403(b) / Move to Vanguard 403(b)

My visit went better than planned. My advisor seemed to already know what I was loaded with ahead of time. Funny how that works. I had no problems getting him on board with my plan, and he had no problem with a fee for service agreement once I move all assets to Vanguard (wife's IRA and our joint b...
by WhyAmeriprise
Sat Jan 13, 2018 10:43 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover Amerirprise 403(b) / Move to Vanguard 403(b)
Replies: 14
Views: 1119

Re: Rollover Amerirprise 403(b) / Move to Vanguard 403(b)

Since we're talking "stay or go", What if I were to stay with Ameriprise but just liquidate the existing VA and have them create/transfer funds to a new 403(b) with nothing but Vanguard and Fidelity index funds? That would prevent my having to transfer anything to another brokerage. I have my annua...
by WhyAmeriprise
Tue Jan 09, 2018 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: A newb question about using Fin planner
Replies: 43
Views: 1937

Re: A newb question about using Fin planner

I'm not looking for the get rich quick idea. I like what the guy says, he's a friend of a friend (can be good and can be scary). He doesn't usually even take on clients under 6 and 7 figures, but said he would accept me and put my money in his risky portfolio with his high risk clients and charge m...
by WhyAmeriprise
Mon Jan 08, 2018 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover Amerirprise 403(b) / Move to Vanguard 403(b)
Replies: 14
Views: 1119

Re: Rollover Amerirprise 403(b) / Move to Vanguard 403(b)

$60/yr is infinitely cheaper than any fee I've seen from Ameriprise! My advisor is fee-based, with a minimum annual fee of $750, depending on complexity. The more I read, the quicker I need to pay the last bit of the surrender fee on the RAVA 4 I have, and move it elsewhere. Customer service at Amer...
by WhyAmeriprise
Mon Jan 08, 2018 5:31 am
Forum: Personal Finance (Not Investing)
Topic: Using Vanguard’s advisors
Replies: 72
Views: 9575

Re: Using Vanguard’s advisors

I have a bricks and mortar bank so I see the tellers a few times a year, but I have no idea who runs the bank. I buy my insurance online, never met anyone involved with running any of the companies. Why would I care whether I meet the person giving financial advice? I would be interested in the adv...
by WhyAmeriprise
Sun Jan 07, 2018 5:21 am
Forum: Investing - Help with Personal Investments
Topic: Thinking about leaving Ameriprise
Replies: 52
Views: 6312

Re: Thinking about leaving Ameriprise

You'll "lose" money, but at least you're only losing seven years of the VUL. If you think you want term insurance, get the term insurance first, and THEN cancel the VUL. The funds you purchase for their RAVA and VUL products are not the exact same Morningstar funds. I couldn't easily find it, and ti...
by WhyAmeriprise
Fri Jan 05, 2018 8:04 pm
Forum: Investing - Help with Personal Investments
Topic: Liquidate mutual funds from Ameriprise to Vanguard Index Funds?
Replies: 5
Views: 1051

Re: Liquidate mutual funds from Ameriprise to Vanguard Index Funds?

I can't specifically answer for Vanguard, but the fees on Schwab to sell funds was cheaper than on Ameriprise. I sold a REIT that Ameriprise advisor recommended because the REIT was in a downward spiral and didn't want to continue losing every day. It was best to swallow the Ameriprise fee to get ou...
by WhyAmeriprise
Fri Jan 05, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Changing from Ameriprise to an index fund approach
Replies: 6
Views: 591

Re: Changing from Ameriprise to an index fund approach

Have you looked at the performance of the REIT? My Ameriprise advisor pitched a REIT, defended it several times, but when I looked at the miserable performance, I sold the REIT because the web site let me do it even when the advisor still said it had a place because "it paid dividends". I didn't car...
by WhyAmeriprise
Fri Jan 05, 2018 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: Keep the VUL and/or RAVA?
Replies: 1
Views: 161

Keep the VUL and/or RAVA?

I have a financial "advisor" that I never chose. I bought the VUL before I knew better, was transferred to another advisor when the new advisor bought his "franchise". The VUL has been in place about 18 years, and I've hesitated to do anything with it, but knew at some point I'd have to. He's had so...