Search found 298 matches

by MichCPA
Tue Nov 13, 2018 12:28 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs. Traditional 401k
Replies: 129
Views: 6113

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: 75
Views: 6779

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: 75
Views: 6779

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: 1213

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: 1508

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: 7958

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: 5949

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: 7351

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: 1950

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: 3326

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: 5123

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: 9263

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: 1917

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: 1917

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: 1107

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: 1728

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: 1107

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: 26
Views: 1233

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: 2739

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: 3317

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: 4925

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: 9263

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: 9263

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: 9263

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: 4773

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: 4773

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: 2427

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: 5383

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: 5383

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: 6920

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: 1053

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/...
by MichCPA
Fri Oct 19, 2018 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6920

Re: Depositing Cash if it was gifted?

Celia, not good advice. You are advocating structuring which is a crime. Gill Suggesting she hold onto it for herself is good advice, if you don't know her financial affairs. Are you referring to her depositing her own money in stages??? Yes, that is a federal crime. First of all, just make the dep...
by MichCPA
Fri Oct 19, 2018 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6920

Re: Depositing Cash if it was gifted?

Celia, not good advice. You are advocating structuring which is a crime. Gill Suggesting she hold onto it for herself is good advice, if you don't know her financial affairs. Are you referring to her depositing her own money in stages??? Yes, that is a federal crime. First of all, just make the dep...
by MichCPA
Fri Oct 19, 2018 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 4093

Re: Approach to rescinding a job acceptance

Afty wrote:
Wed Oct 17, 2018 8:39 pm
However you handle this, you're likely to burn a bridge. I would keep it brief and not elaborate on the reasons. You're not going to convince them anyway.
+ All the points, you aren't ever going to be considered for employment by anyone from that place again. Just keep it quick.
by MichCPA
Fri Oct 19, 2018 9:20 am
Forum: Personal Consumer Issues
Topic: When to change tires; and what brand
Replies: 131
Views: 8475

Re: When to change tires; and what brand

Curious 1. When do you guys change tires ? I know that tire tread depth is 8/32 mm for a brand new tire and 2/32 mm for a completely bald tire. The tire shops try to scare you into buying new tires even at 5/32 mm. I myself have been buying as soon as they dip below 3/32 mm. I bought a electronic t...
by MichCPA
Fri Oct 19, 2018 8:11 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard vs Charles Schwab ETFs
Replies: 13
Views: 1053

Re: Vanguard vs Charles Schwab ETFs

'Much lower?' As noted, can you define what this means to you, because I'm seeing a basis point or two - not enough to worry about. (I hold investments at both Schwab and Vanguard, FWIW). +1 I don't know anyone that would consider a drop from .04 to .03 (the difference between the Vanguard and Schw...
by MichCPA
Fri Oct 19, 2018 8:02 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard vs Charles Schwab ETFs
Replies: 13
Views: 1053

Re: Vanguard vs Charles Schwab ETFs

You can buy Schwab ETFs (in fact, all ETFs) through Vanguard commission free, so there is no reason to switch custodians even if you want to switch to Schwab. +1, If you are strictly dealing with ETFs, Vanguard is your choice. I haven't been able to auto-reinvest dividends from my 3rd party ETFs, b...
by MichCPA
Wed Oct 17, 2018 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: would you buy bonds or corporate bonds now?
Replies: 19
Views: 1812

Re: would you buy bonds or corporate bonds now?

Most people on this board would recommend against buying corporate bonds, I think. They carry basically the same risk as stocks. It's better to diversify your risk and buy government bonds in addition to stocks. My impression is that's manifestly untrue. Can you cite statistics? Count me as not bei...
by MichCPA
Wed Oct 17, 2018 2:31 pm
Forum: Investing - Theory, News & General
Topic: Too Much Apple [AAPL] Stock
Replies: 55
Views: 5890

Re: Too Much APPL Stock

Do you mean AAPL (Apple)?
by MichCPA
Wed Oct 17, 2018 2:27 pm
Forum: Investing - Theory, News & General
Topic: Treasuries safe?
Replies: 33
Views: 1693

Re: Treasuries safe?

The accumulated wealth of the United States is something like $100 trillion with a GDP just short of $20 trillion. More than enough to pay a $20+ trillion debt with maturities spanning out 30 years. If the government wants to pay, it can.
by MichCPA
Wed Oct 17, 2018 11:44 am
Forum: Personal Finance (Not Investing)
Topic: HSA contribution for divorced non-custodial parent
Replies: 13
Views: 718

Re: HSA contribution for divorced non-custodial parent

You can cover your children regardless if they are your tax dependents until they are 26. Once they are no longer tax dependents, you can not use the HSA to pay for their unreimbursed qualified medical expenses. However, at that point they become HSA eligible individuals and may open an HSA and mak...
by MichCPA
Wed Oct 17, 2018 11:20 am
Forum: Investing - Help with Personal Investments
Topic: Multiple Backdoor Roth Conversions each year for same tax year
Replies: 8
Views: 370

Re: Multiple Backdoor Roth Conversions each year for same tax year

The paperwork would be simplified if you did one individual now and the other later, rather than splitting both contributions between the two. +1 Agreed, if you took the 4k you are discussing now and saved so you could get the other 7k in by the end of Q1 19, you might have 5,500 in about a month o...
by MichCPA
Wed Oct 17, 2018 8:08 am
Forum: Investing - Theory, News & General
Topic: Vanguard screws up rollover from TSP
Replies: 41
Views: 4439

Re: Vanguard screws up rollover from TSP

A Vanguard bad customer service thread on here I have observed at least weekly. Well, its Bogleheads so pretty much everyone here has some type of Vanguard account. I have one along with Schwab and Fidelity for my 401k. Each of these firms has strengths and weaknesses. My impression is that Vanguar...
by MichCPA
Tue Oct 16, 2018 5:08 pm
Forum: Investing - Help with Personal Investments
Topic: "MegaMillions and Powerball jackpots combined are now $1B" - Good investment?
Replies: 55
Views: 2934

Re: "MegaMillions and Powerball jackpots combined are now $1B" - Good investment?

I prefer to do my gambling in the form of diversified mutual funds. If I really need to be entertained I play a youtube clip of of winning at a slot machine WHILE purchasing my mutual funds.
by MichCPA
Mon Oct 15, 2018 3:52 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3421

Re: Boglehead's Car Talk

Oh, I dunno. Lots of millionaires drive boring cars like Honda Accords and Toyota Camrys. ;) Perhaps that's how they became millionaires. :mrgreen: I did the math a few years back about the difference between buying a new fancy car every 3 years for him and her vs holding unto a not so fancy cars f...
by MichCPA
Mon Oct 15, 2018 2:44 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3421

Re: Boglehead's Car Talk

Probably cross the Cross-trek off your list. I repeatedly read that they are slow and small. My sister-in-law owns one, and I've driven it. I was pleasantly surprised by the pep of that little 2.0L -- it actually puts out more horsepower than the 2.2L in my '96 Outback. If a family of four thinks i...
by MichCPA
Mon Oct 15, 2018 2:36 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3421

Re: Boglehead's Car Talk

Life is too short to drive boring cars. Oh, I dunno. Lots of millionaires drive boring cars like Honda Accords and Toyota Camrys. ;) Perhaps that's how they became millionaires. :mrgreen: I did the math a few years back about the difference between buying a new fancy car every 3 years for him and h...
by MichCPA
Mon Oct 15, 2018 2:22 pm
Forum: Personal Consumer Issues
Topic: Boglehead's Car Talk
Replies: 35
Views: 3421

Re: Boglehead's Car Talk

Probably cross the Cross-trek off your list. I repeatedly read that they are slow and small. My sister-in-law owns one, and I've driven it. I was pleasantly surprised by the pep of that little 2.0L -- it actually puts out more horsepower than the 2.2L in my '96 Outback. If a family of four thinks i...
by MichCPA
Mon Oct 15, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Kids and Money
Replies: 38
Views: 1875

Re: Kids and Money

How is living like you do right now lying? You don't have to answer every question your kid will ask in the way they expect it to be answered. I think most of us had a general idea where our parents were compared to people in general without dollar figures, so lying wouldn't really work anyway. Unti...
by MichCPA
Mon Oct 15, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: High APY Checking
Replies: 10
Views: 1083

Re: High APY Checking

Consumers Credit Union 4.59% APY On Up To $20k. Hoops to jump through. https://www.doctorofcredit.com/consumers-credit-union-5-07-apy-on-up-to-20000-rewards-checking/ You have inadvertently pointed out the main problem with this kind of account -- you have to constantly watch for changes to the rul...