Search found 317 matches

by MichCPA
Fri Jan 18, 2019 3:43 pm
Forum: Personal Consumer Issues
Topic: Any good reason to get a smartwatch?
Replies: 89
Views: 3606

Re: Any good reason to get a smartwatch?

IMO any smartwatch you have to charge every day or every few days is stupid. Which rules out essentially every WearOS watch and the Apple watch. Everyone I know with one of these is constantly walking around with a useless paperweight on their wrist because they forgot to charge it. I have the Amaz...
by MichCPA
Fri Jan 18, 2019 2:29 pm
Forum: Investing - Help with Personal Investments
Topic: 100% in VTSAX - Is it crazy???
Replies: 70
Views: 6186

Re: 100% in VTSAX - Is it crazy???

Yes, even IF you are fully vested, it is crazy. I may be a bit gun-shy, but I have seen GM and the City of Detroit go bankrupt and cut pensions. There is no guarantee that your pension will remain solvent even if it is vested. Going even 80-20 protects you from so much. You only give up 1/2% in retu...
by MichCPA
Fri Jan 18, 2019 2:16 pm
Forum: Personal Consumer Issues
Topic: Is My Iphone Now a Brick?
Replies: 20
Views: 2408

Re: Is My Iphone Now a Brick?

... buy a 4s or 5s. Don't do that if you want to stay on Verizon; they will no longer activate those older devices and plan to phase out support for devices that do not support VoLTE. https://www.cnet.com/news/verizon-will-no-longer-activate-your-old-non-4g-phone/ I second the sentiment, but would ...
by MichCPA
Fri Jan 18, 2019 10:17 am
Forum: Investing - Help with Personal Investments
Topic: Capital One 360 MM for $500 bonus
Replies: 29
Views: 1978

Re: Capital One 360 MM for $500 bonus

$200 for $10,000 sounds not too bad but not $50k! Just confirmed with bank: $200 for 10k and $500 for 50k. TBH the incremental $300 for 40k doesn't make much sense if you are really into playing the bonus game and the 2% rate is almost 50 bps below VG. Fifth Third will give you $250 for putting $50...
by MichCPA
Thu Jan 17, 2019 11:47 am
Forum: Investing - Theory, News & General
Topic: Why GE is most actively traded stock?
Replies: 5
Views: 660

Re: Why GE is most actively traded stock?

this is so speculative, GE stock is having so many negative analyst reviews. Yet I see it, as one of the most actively traded stock these day. Any thoughts on the reason why so? I would argue that its speculative nature is the primary reason WHY is is traded so much. Another recent reason would hav...
by MichCPA
Wed Jan 16, 2019 4:16 pm
Forum: Investing - Help with Personal Investments
Topic: Why are you NOT buying rental properties?
Replies: 190
Views: 11843

Re: Why are your NOT buying rental properties?

I get the hustling part but my coworkers hustle at work all of the time. Just recently my coworker told me he made $40 k in overtime last year. I made that much from just one property last year and I don’t have to pay 50% tax! You CLEARED, net profit, $3300 a month, from one property, with a proper...
by MichCPA
Mon Jan 14, 2019 11:45 am
Forum: Investing - Theory, News & General
Topic: U.S. economy could slip from top spot in 2020 and keep slipping
Replies: 25
Views: 1851

Re: U.S. economy could slip from top spot in 2020 and keep slipping

These are raw numbers compared to nations that have something like 4x the population of the US. It would hardly be a slip to still have double the per person GDP as China in 2030.
by MichCPA
Fri Jan 11, 2019 11:27 am
Forum: Personal Consumer Issues
Topic: Best Military Credit Card
Replies: 11
Views: 858

Re: Best Military Credit Card

My choice for OP would be CSR for simplicity (the one card with least hassle getting value from pts and credits) and better for overseas use. Amex would be best overall for a multi card setup right now, but they are less accepted overseas and even where they are accepted you are limited to 1x pts on...
by MichCPA
Wed Jan 09, 2019 9:19 am
Forum: Investing - Theory, News & General
Topic: Past result is not an indicator for future performance
Replies: 29
Views: 2030

Re: Past result is not an indicator for future performance

This is SEC required CYA language. Bogleheads need to stop making it into anything more than that. It seems that here it can also be used to mean, "nobody knows anything" and "the past doesn't indicate anything about the future". It doesn't mean either of those things. Should we stop expecting bonds...
by MichCPA
Mon Jan 07, 2019 9:40 am
Forum: Investing - Theory, News & General
Topic: How do you view a savings surplus in retirement?
Replies: 117
Views: 5956

Re: How do you view a savings surplus in retirement?

If I had a relatively small surplus of say 25% as in your example, I would view it as a cushion. It would have never dawned on me to consider 25% a relatively small cushion, maybe 5%-10%, but I would view 25% as substantial so can you help me to understand your perspective. It's small because it co...
by MichCPA
Tue Dec 18, 2018 10:14 am
Forum: Personal Consumer Issues
Topic: Favorite Purchase of 2018?
Replies: 255
Views: 19502

Re: Favorite Purchase of 2018?

My 65 inch 4K HDR Roku TV. The upgrade from the 32 inch 720P dumb TV I had from college was....noticeable.
by MichCPA
Thu Dec 13, 2018 12:58 pm
Forum: Investing - Theory, News & General
Topic: [Robinhood to offer 3% cash management program, not a bank account]
Replies: 160
Views: 10642

Re: Robinhood to launch 3% Checking & Savings Accounts

They say it is launching in January, so it seems like a real product to me. 3% on savings is good, but not hugely different than where Online Savings accounts will be in a year, assuming a few more rate changes. I currently get 2.05%. It is +46% - how is that not hugely different. People rant every...
by MichCPA
Wed Dec 12, 2018 2:15 pm
Forum: Investing - Help with Personal Investments
Topic: Why I use Roth for bond instead of stock. Please correct me...
Replies: 54
Views: 4442

Re: Why I use Roth for bond instead of stock. Please correct me...

Its worth noting under point 2 that, for most of this year and in many rising rate environments, you can TLH bond funds as well. My approach would be to skew to stocks in Roth because I am 27 and cant touch growth for 33 years. Over that period of time the growth of stocks will almost certainly have...
by MichCPA
Wed Dec 12, 2018 1:32 pm
Forum: Investing - Help with Personal Investments
Topic: Lost value in 529 savings
Replies: 25
Views: 1990

Re: Lost value in 529 savings

OK, I got what everyone is saying. So this year again I can contribute another 20K into 529 savings :) Hopefully the 2008 never repeats again :( It (2008) will happen again and you need to be prepared for that. If you can't handle a high level of stock volatility, you can choose a more conservative...
by MichCPA
Wed Dec 12, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Received IRS letter - be proactive or sit back?
Replies: 25
Views: 3038

Re: Received IRS letter - be proactive or sit back?

Your legal counsel could tell you whether you should contact the IRS. I would assume, if they were involved in this situation during the modification, they would have some type of documentation relating to all of this. Does an 8332 exist? Sounds like the answer is no.
by MichCPA
Mon Dec 03, 2018 4:12 pm
Forum: Investing - Theory, News & General
Topic: Yield Curve = Inverted
Replies: 58
Views: 6167

Re: Yield Curve = Inverted

I will change my asset allocation from 80% stocks to 80% non-perishable food items to prepare for the impending doom! That's where the smart money is moving.

/s
by MichCPA
Wed Nov 28, 2018 10:50 am
Forum: Investing - Theory, News & General
Topic: Fidelity’s zero-fee campaign spurs $6.6bn of inflows Boston manager outsells Vanguard by more than 40% in October after
Replies: 58
Views: 5430

Re: Fidelity’s zero-fee campaign spurs $6.6bn of inflows Boston manager outsells Vanguard by more than 40% in October a

Vanguard's lowering of minimum investment amount on 38 index funds Admiral shares to $3,000 is seen as a response to Fidelity move. Fidelity's zero campaign has drawn enormous coverage from financial news outlets. I heard about Vanguard's response when people on this message board accidentally noti...
by MichCPA
Tue Nov 27, 2018 11:15 am
Forum: Personal Consumer Issues
Topic: Dual Monitor Set up
Replies: 52
Views: 2888

Re: Dual Monitor Set up

Absolutely have two monitors of the same model. Go for at least 24 inches. I would also recommend that you add adjustable arms to the setup if it is primarily for work.
by MichCPA
Tue Nov 27, 2018 11:08 am
Forum: Investing - Theory, News & General
Topic: Does 100% stocks make sense for very high net worth individuals
Replies: 89
Views: 7092

Re: Does 100% stocks make sense for very high net worth individuals

100%? No. A higher percentage than a 'normal' yes.

If you could cover your baseline annual spend in bonds, I would see a substantially reduced need to add any bonds beyond that point. (ie if 10% of your net worth can generate all needed income in bonds, why go beyond that)
by MichCPA
Tue Nov 13, 2018 12:28 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs. Traditional 401k
Replies: 132
Views: 7160

Re: Roth vs. Traditional 401k

Under Current Tax Law, you have the ability to place retirement savings in a Roth 401k at lower tax rates than you'll be paying in 2025 when tax brackets are scheduled to return to their 2017 brackets. Assuming either a) current tax brackets and rates will continue in place forever, or b) the 2017 ...
by MichCPA
Tue Nov 13, 2018 12:12 am
Forum: Investing - Theory, News & General
Topic: Vanguard investor class shares on their way out?
Replies: 88
Views: 8526

Re: Vanguard investor class shares on their way out?

An extra 10 basis points on an amount below the $10k minimum for Admiral index shares adds up at most to less than $10/year. If you plan to keep and add to your investments at Vanguard for the long term, you're much better off paying the higher ER on a small amount than you would be if everything g...
by MichCPA
Mon Nov 12, 2018 11:59 pm
Forum: Investing - Theory, News & General
Topic: Vanguard investor class shares on their way out?
Replies: 88
Views: 8526

Re: Vanguard investor class shares on their way out?

I remember seeing an inverview that Christine Benz of Morningstar did with Tim Buckley recently. He was asked a question about share classes and mentioned that they re-evaluate the pricing and share classes on a yearly basis. I would expect to see some movement on S&P500 funds and TSMIs because of c...
by MichCPA
Tue Nov 06, 2018 10:39 am
Forum: Personal Consumer Issues
Topic: Do older 4x4 vehicles hold higher salvage value?
Replies: 14
Views: 1250

Re: Do older 4x4 vehicles hold higher salvage value?

Thanks for the responses. That helps. On a side note, would you say most cars would retrieve at least $1k regardless of age or mileage or even condition as long as they run and are functional? I would say a running car that can pass inspection, or do so with minor maintenance (say brake pads/tires)...
by MichCPA
Tue Nov 06, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Roth in a high tax bracket
Replies: 14
Views: 1550

Re: Roth in a high tax bracket

Given your age (30+ years out), income (35% bracket), and the fact that you have interest in investments (you post here). I am going to be contrarian and say that you should tilt solidly to Roth, but have some traditional available to take advantage of bad market years in retirement when your taxes ...
by MichCPA
Tue Nov 06, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 8120

Re: Teaching kids there is an ample amount of money

I'm not sure I agree about the worry / anxiety being a good thing, especially for high NW families who can provide a safety net and kids who are highly intelligent, driven and easily employable. What benefit does the anxiety provide? On some level, worry and anxiety are a part of life and figuring ...
by MichCPA
Tue Nov 06, 2018 9:16 am
Forum: Investing - Theory, News & General
Topic: WSJ: Sometimes, It’s Bonds For the Long Run
Replies: 72
Views: 6220

Re: Questioning the Dogma of "Stocks for the Long Run"

- Stated more simply, if “past performance is no guarantee of future results” and if all—or at least most—guidance on portfolio design/allocation derives from analyses of past performance and if one is designing a portfolio to achieve some desired future results, then what logical basis is there fo...
by MichCPA
Mon Nov 05, 2018 11:55 am
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7542

Re: Do people calculate savings rate on gross income?

Really you can do whatever you want. As Klang said, if you are looking to retire you might look at expenses. I can see points either way on gross vs net. If you were to look at gross, you are including some items you have less control over (insurance, taxes). If you look at net, you get a look at mo...
by MichCPA
Mon Nov 05, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Where to build a 'payoff the mortgage' fund?
Replies: 13
Views: 2007

Re: Where to build a 'payoff the mortgage' fund?

Broken Man 1999 wrote:
Mon Nov 05, 2018 10:30 am
rasta wrote:
Sun Nov 04, 2018 3:38 pm
why are you making this so difficult.

apply any extra funds to pay off principal.
Seems the simplest and perhaps best financial effort.

Broken Man 1999
Add me to this list. The treasury yield only goes out to 3.5% ish at 30 years. You can't beat the payoff without adding risk.
by MichCPA
Fri Nov 02, 2018 11:38 am
Forum: Personal Consumer Issues
Topic: Used 2016 Lexus GS 350: 40k miles too much?
Replies: 38
Views: 3402

Re: Used 2016 Lexus GS 350: 40k miles too much?

40k at 2.5 yrs is 16k miles per year. Average is about 13.5k. Definitely not outside of the scope of normal.
by MichCPA
Thu Nov 01, 2018 8:01 am
Forum: Investing - Theory, News & General
Topic: Why I'm NOT 100% stocks
Replies: 36
Views: 5210

Re: Why I'm NOT 100% stocks

lostdog wrote:
Tue Oct 30, 2018 12:55 pm
This is just market timing. Nice story though.
To be fair, having an IPS and re-balancing to a set AA on a regular basis isn't market timing. The OPs idea that you could somehow do so perfectly at the bottom and the rationale for doing so is market timing.
by MichCPA
Wed Oct 31, 2018 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9437

Re: Girlfriend's Student Loans

I wanted to clarify--a lot of people here seem to have no idea what a starting teacher's salary is. My DD works in the Boston area (high salaries, HCOL). She started at $45k plus benefits. She's doing okay, but she's not living the high life. She has 2 other (part time) jobs, drives a beater car th...
by MichCPA
Wed Oct 31, 2018 1:38 pm
Forum: Personal Consumer Issues
Topic: Tire rotation - low mileage car
Replies: 36
Views: 1944

Re: Tire rotation - low mileage car

I thought you got the tires at Costco? They do tire rotation, balancing, repairs and inflation free of charge. We only got 2 at Costco a year ago. I thought to get the free rotation - you had to buy all four (we did on other car). I will check to see if we have the deal for only 2. Thanks. Key poin...
by MichCPA
Wed Oct 31, 2018 1:28 pm
Forum: Personal Consumer Issues
Topic: Tire rotation - low mileage car
Replies: 36
Views: 1944

Re: Tire rotation - low mileage car

I thought you got the tires at Costco? They do tire rotation, balancing, repairs and inflation free of charge. We only got 2 at Costco a year ago. I thought to get the free rotation - you had to buy all four (we did on other car). I will check to see if we have the deal for only 2. Thanks. Key poin...
by MichCPA
Wed Oct 31, 2018 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Is it okay to use backdoor Roth if ultimately below income limits?
Replies: 20
Views: 1166

Re: Is it okay to use backdoor ROTH if ultimately below income limits?

What's important to remember is that there is no such thing as a backdoor Roth. Sigh....really? And less than helpful. He has a legitimate point. There is no 'Backdoor Roth' account with requirements that differ from a TIRA or RIRA at each respective step. Its a strategy not an account. No, he has ...
by MichCPA
Wed Oct 31, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Debt for Grandma
Replies: 32
Views: 1810

Re: Credit Card Debt for Grandma

barnaclebob wrote:
Wed Oct 31, 2018 12:59 pm
mptfan wrote:
Wed Oct 31, 2018 12:56 pm
bloom2708 wrote:
Wed Oct 31, 2018 12:52 pm
Does mom know she will be on the hook for Grandma's CC bills?
I don't think this is true.
It might depend on what the OP means by "co-listed"
I agree. Is this an Authorized user or co-signer situation?
by MichCPA
Wed Oct 31, 2018 12:58 pm
Forum: Investing - Help with Personal Investments
Topic: Is it okay to use backdoor Roth if ultimately below income limits?
Replies: 20
Views: 1166

Re: Is it okay to use backdoor ROTH if ultimately below income limits?

PFInterest wrote:
Wed Oct 31, 2018 12:17 pm
Earl Lemongrab wrote:
Wed Oct 31, 2018 12:03 pm
What's important to remember is that there is no such thing as a backdoor Roth.
Sigh....really? And less than helpful.
He has a legitimate point. There is no 'Backdoor Roth' account with requirements that differ from a TIRA or RIRA at each respective step. Its a strategy not an account.
by MichCPA
Wed Oct 31, 2018 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: If you have credit monitoring do you need to freeze credit?
Replies: 41
Views: 2224

Re: If you have credit monitoring do you need to freeze credit?

I have credit monitoring, but have not frozen my credit. If I have monitoring is there any good reason to freeze or am I covered? Freezing is a proactive step and can avoid the hassle of contacting the bureaus later and proving to them that you have an issue. The freeze process is takes maybe 5-7 m...
by MichCPA
Tue Oct 30, 2018 10:21 am
Forum: Investing - Theory, News & General
Topic: ETF provider State Street unintentionally promotes traditional index funds
Replies: 38
Views: 2794

Re: ETF provider State Street unintentionally promotes traditional index funds

I think the “gosh why would anyone use ETF’s” crowd is only slightly less smug than the “I’m with Jack” anti-international crowd. Just because you can’t think of a reason to do X doesn’t meant there isn’t a reason do do it. 👍 I think that you are ascribing attitudes to me that I don't actually have...
by MichCPA
Tue Oct 30, 2018 10:06 am
Forum: Personal Consumer Issues
Topic: Kevin O'Leary: owning a car is a terrible idea
Replies: 43
Views: 3379

Re: Kevin O'Leary: owning a car is a terrible idea

This depends a great deal on where you live. Public transport and Uber would not be a cost effective replacement for me. That being said, any one who refers to a car as an 'investment' is just being foolish.
by MichCPA
Tue Oct 30, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Should I co-sign for relative?
Replies: 103
Views: 5044

Re: Should I co-sign for relative?

1. This car is more than I pay for housing. 2. Also, if the lessor has decided that the relative can't pay, why have you decided the situation is different? 3. Over a 3 year lease, this would be $32,400. Consider that at 3 years a car will be worth half of its new value. Is the car really worth 60k ...
by MichCPA
Tue Oct 30, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9437

Re: Girlfriend's Student Loans

chrisjul wrote:
Sun Oct 28, 2018 12:00 pm
Momus wrote:
Fri Oct 26, 2018 11:19 am
I don't think 100k loan is a lot anyway.
Wow, really?
It's 3x average. Its pretty big.
by MichCPA
Fri Oct 26, 2018 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9437

Re: Girlfriend's Student Loans

I think it's perfectly reasonable. You're going to get a wide range of opinions around here, but mine is that when you're married, you should share finances. This includes income and expenses. You're marrying the entire package, good and bad. It is absolutely understandable that she didn't know wha...
by MichCPA
Fri Oct 26, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9437

Re: Girlfriend's Student Loans

"but would it be unreasonable for me to focus on increasing my income and stacking cash in preparation for tackling this loan one day " Yes it would be unreasonable. Please Allow Her to "Tackle" It. It will be an education for her. Discipline,Money Management,Emotional Strength and Growth. You will...
by MichCPA
Fri Oct 26, 2018 8:49 am
Forum: Personal Consumer Issues
Topic: What Memberships/Subscriptions Are Most Valuable To You?
Replies: 68
Views: 4938

Re: What Memberships/Subscriptions Are Most Valuable To You?

TravelforFun wrote:
Fri Oct 26, 2018 8:36 am
SW Airlines Companion
Costco
Amazon Prime
Priority Pass

in that order.

TravelforFun
If you don't mind me asking, how much is Priority Pass and which airports do you frequent/how good are those lounges?
by MichCPA
Fri Oct 26, 2018 8:38 am
Forum: Personal Consumer Issues
Topic: What Memberships/Subscriptions Are Most Valuable To You?
Replies: 68
Views: 4938

Re: What Memberships/Subscriptions Are Most Valuable To You?

1. Cell phone (paid by company) 2. Xfinity Internet (includes HBO and Cinemax, but those would be pretty far down this list) 3. PlayStation Vue for TV 4. Amazon Prime 5. Netflix (w/ the 4k and HDR) 6. Morningstar (use the library) 7. Apple Music 8. Sirius XM (purchased on a $5 month deal because it ...
by MichCPA
Thu Oct 25, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Question about the 4% rule
Replies: 27
Views: 2480

Re: Question about the 4% rule

The idea that 4% is too high as a SWR was scaremongering during the period of 0% interest rates based on the idea that if that continued for 30 years and you were overweight in bonds, that you would have issue. You are many times more likely to finish at death with more money at death than be broke....
by MichCPA
Mon Oct 22, 2018 3:36 pm
Forum: Personal Consumer Issues
Topic: Car Dealer told us car was Certified, but it isnt
Replies: 80
Views: 5441

Re: Car Dealer told us car was Certified, but it isnt

Also, how much mileage has been put on the car since purchase?
by MichCPA
Mon Oct 22, 2018 3:26 pm
Forum: Personal Consumer Issues
Topic: Car Dealer told us car was Certified, but it isnt
Replies: 80
Views: 5441

Re: Car Dealer told us car was Certified, but it isnt

JoeRetire wrote:
Mon Oct 22, 2018 2:48 pm
Thegame14 wrote:
Mon Oct 22, 2018 1:25 pm
I don't care about paperwork, a verbal contract is as good as written.
You still believe that?
Generally speaking, the statute of frauds would say that if the contract is for a $500+ good, you have to have the contract in writing.
by MichCPA
Fri Oct 19, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 7022

Re: Depositing Cash if it was gifted?

Yes, that is a federal crime. First of all, just make the deposit. I have had to shift over 10,000 between accounts a couple of times, so I know that reports have been generated. Almost all of the time, nothing will happen. However, money laundering is a crime and staging is just an indicator. Spli...
by MichCPA
Fri Oct 19, 2018 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard vs Charles Schwab ETFs
Replies: 13
Views: 1105

Re: Vanguard vs Charles Schwab ETFs

Sorry should have been clearer, I meant the tax efficiency of Vanguard's funds as a whole on average, but yes 100% agree the 3 bps difference for tax efficiency in those 2 particular funds is basically nothing in the grand scheme of things. Just a couple dollars per year for most people. The small/...