Search found 9345 matches

by tj
Thu Mar 28, 2024 8:05 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7769
Views: 1351986

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Beckeresq wrote: Thu Mar 28, 2024 6:45 am A Reddit post made by Fidelity about their cash transfer bonus.
Again, what is it actually?

I went to the fidelity Reddit and searched for bonus and see nothing.

A link would be helpful if others want to partake. It seems odd that would announce it on Reddit rather than their own website.
by tj
Thu Mar 28, 2024 7:53 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% match old 401k rollover to Trad IRA

[Thread merged into here --admin LadyGeek] I’m looking to take advantage of the Robinhood Gold 3% match to roll an old 401k with $30k into a Robinhood trad IRA. Each year I make max non-deductible after-tax contributions to the trad IRA and immediately convert to Roth using backdoor method, so balance of TIRA is zero. My magi is too high for any other tax benefit. Does it make sense for me to roll in the 401k considering there is $900 free money for doing so. What should I be taking into consideration? What will happen when I pay in $7k for 2024 tax into the TIRA and then immediately convert to Roth via backdoor? Will there be any issues here. Thanks. Thanks You shouldn't be messing with Robinhod with that sort of set up, also I can't imag...
by tj
Wed Mar 27, 2024 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: My Auto Insurance 6 month premium is going dramatically UP?
Replies: 141
Views: 6011

Re: My Auto Insurance 6 month premium is going dramatically UP?

What you are missing is that you can be ordered to pay a judgment. Even if your wages can't be garnished, the court can look at your finances and say "pay $500 per month" and "if your MAGI increases, your payment increases." You could choose not to pay it and not suffer wage garnishment. But they could hold you in contempt of court. Texas has no wage garnishment. How can they? Garnishing wages means that when you're paid, some of it is redirected to the creditor. It's just another deduction, like FICA. Having a judgment is not wage garnishment. It's a court-ordered payment. You can choose not to pay. And the same court can throw you in jail. It's crazy to me that we're having this conversation with a near millionaire.
by tj
Wed Mar 27, 2024 11:02 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

whodidntante wrote: Wed Mar 27, 2024 10:52 am
shahhere wrote: Wed Mar 27, 2024 7:28 am
whodidntante wrote: Tue Mar 26, 2024 8:43 pm The new credit card is tempting, but if there's anything left of it, I'll get one in a couple of months. I'm currently being a good boy so I can qualify for a Chase card for the first time in many years.
One feature that caught my eye from the article is the Warranty extension that most cards have done away with......

Shahhere
Yep, the card that it is based on historically had a $7,500 per month spending limit for full points, so I wonder if this new rig has similar limitations. I didn't see it when I perused the T&C. They do say that manufactured spending isn't going to earn points.
But how do they define manufactured spending? 😉
by tj
Tue Mar 26, 2024 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: My Auto Insurance 6 month premium is going dramatically UP?
Replies: 141
Views: 6011

Re: My Auto Insurance 6 month premium is going dramatically UP?

Get a quote for an actual personal policy from StateFarm and others. If you are doing Doordash so seldomly, then you might save more on insurance than you pay for insurance that covers your seldom DoorDashing.

Also your liability coverage is absurdly low. How would you like it if you were hit by an uninsured or underinsured driver that caused you lifelong medical costs?
by tj
Tue Mar 26, 2024 8:50 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

whodidntante wrote: Tue Mar 26, 2024 8:43 pm The new credit card is tempting, but if there's anything left of it, I'll get one in a couple of months. I'm currently being a good boy so I can qualify for a Chase card for the first time in many years.
Hopefully Chase offers something interesting for you!
by tj
Tue Mar 26, 2024 8:11 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

What does "Robinhood does not handle invidiual tax lots" mean? They somehow automatically convert the basis of your existing holdings to average cost basis?
by tj
Tue Mar 26, 2024 7:56 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

"Boost is divided into 24 monthly payouts. To earn your full boost, hold or invest your brokerage deposits for 2 years. If you cancel Gold, you'll lose future payouts you haven't earned yet. Only deposits into your non-retirement brokerage account will be eligible to earn the boost. There are daily ACH deposit limits." That's not so bad. For sure, not so bad. The cash deposit rate for Gold will fluctuate and could go down by more than the boost amount. If you are investing the cash though, it may be worth it. Robinhood doesn't handle individual tax lots, so I'm somewhat reluctant to do that. They didn't mention a clawback for these types of deposits, so maybe one could just transfer out at such point. I wonder when that offer goe...
by tj
Tue Mar 26, 2024 7:54 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

For those that enable stock lending, my thoughts regarding the trade-off of Robinhood's 3% contribution match vs lower stock lending returns, for those considering whether to move back to another broker after 5 years vs staying at Robinhood: - Robinhood gives roughly 13% of the proceeds. (They say they give 15% of the amount they make. So 100% = $x + $0.15x, x ~= 86.96%, you keep ~13.04%). - There are other brokers that give 50/50 split of the stock lending returns. I'm not using margin (I'd have to deposit a more than $2k as I hold 100% equities and they won't give me $1k free margin without more than $2k in the account). So for staying at robinhood I get: $210 (3% contribution match) - $60 (or $75, Gold membership) = $150 (annually). I w...
by tj
Tue Mar 26, 2024 7:42 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

madbrain wrote: Tue Mar 26, 2024 7:24 pm
BobbleyBob wrote: Tue Mar 26, 2024 7:20 pm It's on the page where they list their Gold benefits under the heading "Unlimited Deposit Boost"

"Score 1% more on every deposit, no cap."

https://robinhood.com/us/en/gold/
Thanks. This not associated with the credit card, but with Gold. I was looking at the CC page.
It is not in effect yet, and won't be paid upfront.

"Boost is divided into 24 monthly payouts. To earn your full boost, hold or invest your brokerage deposits for 2 years. If you cancel Gold, you'll lose future payouts you haven't earned yet. Only deposits into your non-retirement brokerage account will be eligible to earn the boost. There are daily ACH deposit limits."

That's not so bad.
by tj
Tue Mar 26, 2024 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare question with no work history
Replies: 28
Views: 2231

Re: Medicare question with no work history

Wife can get medicare on husband’s record. Part A - hospital coverage.needs to be 65 and must enroll. No cost. Part B - enroll in and Pay for this - pays for doctor’s office visit - monthly or quarterly fee to medicare. Part D - enrollment is optional but a good idea - prescription drugs - month - needs to select a provider. Monthly Payment required. Medicare supplemental covers good part of the gaps of coverage of Part B. Pay a private insurer for this. All of this may cost an individual. $400-500 a month. It certainly is not free. Many people obtain medicare by via marriage to someone who has paid into the system.. This is not new. Part D or MA drug coverage is not optional. You will be penalized for every year you don't sign up, by payi...
by tj
Mon Mar 25, 2024 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare question with no work history
Replies: 28
Views: 2231

Re: Medicare question with no work history

123 wrote: Mon Mar 25, 2024 9:43 pm Since the wife has no entitlement to benefits unless her husband receives benefits the husband may need to consider whether there is any significant economic gain to husband and wife by waiting till age 70. Depending on their other income and tax situation they could be seriously disadvantaged by waiting till age 70 since that could mean more ongoing SSA benefits will be subject to tax. RMD issues and IRMMA can also come into play.
Why would they be subject to additional taxes vs any other person who delays?
by tj
Mon Mar 25, 2024 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare question with no work history
Replies: 28
Views: 2231

Re: Medicare question with no work history

Econberkeley wrote: Mon Mar 25, 2024 3:31 pm
1hotjava wrote: Mon Mar 25, 2024 2:49 pm
Econberkeley wrote: Sun Mar 24, 2024 9:50 pm may get between 150% and 180% of husband's retirement salary.
Just to clear up some terminology here. It is 150% of the husbands benefit (150% of the PIA to be exact), not salary.
by benefit you mean retirement salary right?
"Retirement salary" is not a standard term.
by tj
Mon Mar 25, 2024 1:17 pm
Forum: Personal Consumer Issues
Topic: Moving to San Diego from Sleepy Low Cost Area
Replies: 77
Views: 8201

Re: Moving to San Diego from Sleepy Low Cost Area

What is the most walkable part of San Diego to live? If your moving to SD and plan on owning a car but prefer to be in a walkable thats fine. But if the intention is to be carless you are going to be paying a steep premium for very little value. There are many great walkable cities in the world (and I have lived carless in many of them) but San Diego is not one of them. If you live in a walkable area of San Diego with a car, you are going to be spending a ton of money on parking. I imagine that, yes, that is quite true. But there are areas within San Diego that are walkable and you park your car right at your home. Either way, my general thought is simply the best bits of San Diego (and SoCal) are largely inaccesible without a car. I've se...
by tj
Mon Mar 25, 2024 1:11 pm
Forum: Personal Consumer Issues
Topic: Moving to San Diego from Sleepy Low Cost Area
Replies: 77
Views: 8201

Re: Moving to San Diego from Sleepy Low Cost Area

krafty81 wrote: Mon Mar 25, 2024 12:54 pm Love Little Italy, Gaslamp and Petco Park area. I have lived in SD now for nine years and do not plan on moving. So many great things to do and the weather is perfect. Biggest downside is COL of course. Utilities, water, gas all take a bite. City is tackling the homeless issue which has cleared the downtown area a bit - still more work to do.
I can filter for Little Italy and Gaslamp on Redfin, but what would the "Petco Park area" be considered?
by tj
Mon Mar 25, 2024 9:25 am
Forum: Personal Consumer Issues
Topic: Moving to San Diego from Sleepy Low Cost Area
Replies: 77
Views: 8201

Re: Moving to San Diego from Sleepy Low Cost Area

halfnine wrote: Mon Mar 25, 2024 6:18 am
JustGotScammed wrote: Wed Mar 20, 2024 7:46 pm What is the most walkable part of San Diego to live?
If your moving to SD and plan on owning a car but prefer to be in a walkable thats fine. But if the intention is to be carless you are going to be paying a steep premium for very little value. There are many great walkable cities in the world (and I have lived carless in many of them) but San Diego is not one of them.
If you live in a walkable area of San Diego with a car, you are going to be spending a ton of money on parking.
by tj
Mon Mar 25, 2024 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1037336

Re: Fidelity as a one stop shop

CuriousGeorgeTx wrote: Mon Mar 25, 2024 7:54 am
tj wrote: Sun Mar 24, 2024 7:53 pm Why do you need mail forms to setup ACH transfer? I definitely haven't needed to that.
Which institutions were you trying to set up?

It appears Fidelity's vendor supports some financial institutions, but for Ally Bank, they said that service wasn't available and I would have to go the paper route.
I don't recall. I always chose to do the two small deposits to link.
by tj
Sun Mar 24, 2024 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1037336

Re: Fidelity as a one stop shop

- There are different rules and regulations on check fraud. Banks are more rigorous and more helpful, Fidelity uses a third party bank that is not very accessible. And since I cannot place a limit on check size (you can for ATM withdrawals), my entire emergency fund is at risk due to the overdraft setup. However, what I have found is that if there is an unusual check, I do get an email asking to confirm that check, which makes me feel more comfortable. For these reasons and also because a check reveals my account number, I use a separate brokerage account just for checkwriting, manually transferring just enough for each check. How do you know that the bill pay check shows your actual account number? That isn't typical for bill pay services...
by tj
Sun Mar 24, 2024 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare question with no work history
Replies: 28
Views: 2231

Re: Medicare question with no work history

My brother worked more than 40 quarters so he is entitled for both social security and medicare. His wife OTOH never worked in her life. The other day we were talking about how the spouse is entitled for for half of what he gets or not. We were confused about the medicare part. So there are 2 questions here Google search indicates total family soc sec income may get between 150% and 180% of husband's retirement salary. Now I understand 150% since the wife is entitled for the half. But under which circumstances this can reach up to 180%? I was not able to find any info on this. Second question, if husband starts receiving social security at 70 and at that time assume non working wife who never worked in her life reaches 65 years old, would ...
by tj
Sun Mar 24, 2024 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1037336

Re: Fidelity as a one stop shop

- There are different rules and regulations on check fraud. Banks are more rigorous and more helpful, Fidelity uses a third party bank that is not very accessible. And since I cannot place a limit on check size (you can for ATM withdrawals), my entire emergency fund is at risk due to the overdraft setup. However, what I have found is that if there is an unusual check, I do get an email asking to confirm that check, which makes me feel more comfortable. For these reasons and also because a check reveals my account number, I use a separate brokerage account just for checkwriting, manually transferring just enough for each check. How do you know that the bill pay check shows your actual account number? That isn't typical for bill pay services.
by tj
Sun Mar 24, 2024 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1037336

Re: Fidelity as a one stop shop

Why do you need mail forms to setup ACH transfer? I definitely haven't needed to that.
by tj
Sun Mar 24, 2024 5:29 pm
Forum: Investing - Theory, News & General
Topic: Purchasing MYGAs (multi year guaranteed annuities) - mega thread
Replies: 2253
Views: 292965

Re: Purchasing MYGAs (multi year guaranteed annuities) - mega thread

CardinalRule wrote: Sun Mar 24, 2024 5:24 pm Stinky, I just pulled up the documents and you're right. I erred on the terminology. Thanks for educating me on that.

Annuity Source of Funds: Traditional IRA
Annuity Option: Period Certain Annuity
Purchase Payment: $195,000.00
Taxable Amount: $3,640
Payment Frequency: Monthly
Period Certain: 5 Years
I wouldn't think there's a way for you to get out of that 5 year contract after you've already started the payments.
by tj
Sun Mar 24, 2024 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1037336

Re: Fidelity as a one stop shop

lstone19 wrote: Sun Mar 24, 2024 3:31 pm
CuriousGeorgeTx wrote: Sun Mar 24, 2024 2:29 pm How does Fidelity handle the timing and visibility of bill pay transactions? I have been unhappy that in most cases, Ally bill pay takes the funds on the due date whether or not the check has been cashed, and there is no way of telling (short of calling them) if the payment has been completed. I’m not as worried about the float as the murkiness.
Fidelity does not debit your account until the bill pay check clears. Check images are then available on-line.
Thanks for the tip about check images. I had never bothered to check!
by tj
Sat Mar 23, 2024 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

An insurance broker who specializes in medicare policies told someone I know that United American offers many (or all) of their G-HD customers an 1-time opportunity to upgrade to a G plan after 2 years on their G-HD plan. I don't know if that is true for all customers or all states or even if true at all, but it is interesting etc. Even if they do their regular g plans in my area are over $300 per month so it would make no sense at all. Yes, United American does offer holders of G-HD policies a one-time opportunity to switch to Plan G without underwriting at the two year mark. In my zip code the rate for their Plan G is slightly over $200 a month, which is a little high but not outrageous. The G plan premium partly covers having the G plan...
by tj
Sat Mar 23, 2024 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Chase as a One Stop Shop
Replies: 61
Views: 11778

Re: Chase as a One Stop Shop

chinchin wrote: Sat Mar 23, 2024 10:19 am Can you deposit cash back from a Chase credit card straight into a JPMorgan self directed brokerage account? Do I ise brokerage account number and chase routing number as the account to deposit into?
I've never heard of people doing that, but that doesn't mean it's not possible.
by tj
Fri Mar 22, 2024 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

UHC in NJ is community rated as well. They have a large discount the dwindles each year, for 2024 they revamped the amount and how it dwindles at least in my zip code. I'm curious how that "discount" works. Does that mean you get a big discount for your first year of enrollment that decreases each year. That sounds a lot like shadow age rating. Community rating means that everyone pays the same rate. You are correct. By taking a little bit of the discount away each year, the UHC policy is actually an attained-age policy that is just called community-rated. And that's what they do in nearly every state that the operate it in. The difference is at age 85 or so, UHC is typically the cheapest option vs actual attained age policies.
by tj
Fri Mar 22, 2024 9:36 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

Leesbro63 wrote: Fri Mar 22, 2024 9:33 am
tj wrote: Fri Mar 22, 2024 9:31 am
Leesbro63 wrote: Fri Mar 22, 2024 9:25 am
veggivet wrote: Fri Mar 22, 2024 9:20 am Large, big name, established brokerages will never offer 2% bonuses, imho. I think RH 3% bonus is a one off in the industry.
Who is offereing 2% now? Who is even offering 1% now? $10,000 for $1M? Where?
Tastytrade - $2k for $100k.

https://support.tastytrade.com/support/ ... 3000678965
OK! You made your point, but only sorta. Because I wouldn't exactly call Tastytrade a big name, established brokerage.
The person who you responded literally said that we would never see such an offer from big brokerages, as did I, the person that they responded to. You asked "who is?"
by tj
Fri Mar 22, 2024 9:31 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

Leesbro63 wrote: Fri Mar 22, 2024 9:25 am
veggivet wrote: Fri Mar 22, 2024 9:20 am Large, big name, established brokerages will never offer 2% bonuses, imho. I think RH 3% bonus is a one off in the industry.
Who is offereing 2% now? Who is even offering 1% now? $10,000 for $1M? Where?
Tastytrade - $2k for $100k.

https://support.tastytrade.com/support/ ... 3000678965
by tj
Fri Mar 22, 2024 9:13 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

I'd be pretty surprised if a 2% offer comes out from a big brokerage. Usually these juicy offers are from no name brokerages with a lot of venture capital. What's odd about this one is that Robinhood is fairly established.
by tj
Fri Mar 22, 2024 8:56 am
Forum: Personal Finance (Not Investing)
Topic: What should a taxpayer expect a CPA to do?
Replies: 27
Views: 2979

Re: What should a taxpayer expect a CPA to do?

toddthebod wrote: Fri Mar 22, 2024 8:40 am
tj wrote: Fri Mar 22, 2024 8:24 am It seems like accountants make you do all the heavy lifting, so why not DIY?
Considering the literally hundreds of posts on this forum asking for help filling out form 8606, is it so hard to imagine wanting help making sure your return is filled out accurately? And form 8606 is a pretty straightforward form.

What about the hundreds of posts about tax preparers not filling it out accurately?
by tj
Fri Mar 22, 2024 8:24 am
Forum: Personal Finance (Not Investing)
Topic: What should a taxpayer expect a CPA to do?
Replies: 27
Views: 2979

Re: What should a taxpayer expect a CPA to do?

It seems like accountants make you do all the heavy lifting, so why not DIY?
by tj
Thu Mar 21, 2024 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: The Final, Definitive Thread on Bank Bonuses
Replies: 122
Views: 17193

Re: The Final, Definitive Thread on Bank Bonuses

https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/ Thanks - I stumbled upon this before. It's a great resource, but I came away feeling uneasy about using it. I noticed the referenced posts of success are often old, some 10+ years, and my impression is that banks have become stricter recently on what satisfies the direct deposit requirement, so the reliability of all but the most recent confirmed successes seem questionable. I was picturing myself signing up for an offer, initiating an ACH transfer from my bank to try to trigger the direct deposit requirements, but not having an easy way to confirm whether the DD met the requirements - then waiting weeks/maybe months for a bonus to show up that might ne...
by tj
Thu Mar 21, 2024 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: The Final, Definitive Thread on Bank Bonuses
Replies: 122
Views: 17193

Re: The Final, Definitive Thread on Bank Bonuses

markallen2424 wrote: Thu Mar 21, 2024 10:31 pm Has anyone who's self employed without payroll income found a reliable, consistent way to satisfy the direct deposit requirements for bank bonuses?

I'd love to take advantage of multiple bank bonus offers, but the lack of payroll direct deposit currently has me stuck.
It's very easy for me to change my direct deposit, but most of the time, I don't need to.

https://www.doctorofcredit.com/knowledg ... -deposits/
by tj
Thu Mar 21, 2024 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: National bank you can recommend for checking acct
Replies: 21
Views: 1370

Re: National bank you can recommend for checking acct

JBTX wrote: Thu Mar 21, 2024 5:08 pm I kind of like capital one. I’ve never actually stepped in one. Do everything online.
I didn't know they had branches.
by tj
Thu Mar 21, 2024 6:27 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

StevieG72 wrote: Thu Mar 21, 2024 6:13 pm
tj wrote: Thu Mar 21, 2024 5:12 pm I don't think any of us could know for sure. That sounds logical. I plan on making zero future contributions to this account
I am making my 2024 IRA contributions prior to April 30th to get the additional 3% on those, no big deal if I have to keep funds at RH for a few more months.
Ah, I made 2024 contributions before I did the transfer.
by tj
Thu Mar 21, 2024 5:12 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

I don't think any of us could know for sure. That sounds logical. I plan on making zero future contributions to this account
by tj
Thu Mar 21, 2024 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

There are some states with more lenient rules, where switching from G-HD to G could be possible without underwriting. New York, Connecticut, Massachusetts, Vermont, and Washington come to mind. (Other states have lenient rules, but most of those are restricted to moving to a plan of equal to or lesser benefits.) Of course, those states have higher premiums for everyone. Especially New York! New York cries out for people to take Plan G-HD. Yes of course, the more lenient the rules the more adverse selection there will be. Those with low medical expenses can pick a plan with higher deductible and then just switch to lower or no deductible when/if they start having higher expenses. This fills the low deductible plan with the people that have ...
by tj
Thu Mar 21, 2024 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

From reading the discussion, the rational choice for us (1-2 years away) would be G-HD. The main drawback I see is the hassle of needing to pay (a small fraction) of every single charge (until the deductible). Whereas with G, you don’t really see the bill at all. How much weight to put on this convenience factor is not clear? But, it might push me towards plan G. I'd add: In doing the math, one should also consider the state they live in and whether or not they can change Plans in the future without going through medical underwriting. One might choose G-HD during open enrollment and then find they're stuck with it when they'd like to change to G. They may be prevented from changing plans in the future if they no longer pass medical underwr...
by tj
Thu Mar 21, 2024 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

From reading the discussion, the rational choice for us (1-2 years away) would be G-HD. The main drawback I see is the hassle of needing to pay (a small fraction) of every single charge (until the deductible). Whereas with G, you don’t really see the bill at all. How much weight to put on this convenience factor is not clear? But, it might push me towards plan G. Some of the G-HD providers have interest bearing savings accounts that can automatically pay your coinsurance so that there is no bill to pay after a claim is processed. Interesting! That’s very good to know as it’d address my main concern. Thank you for sharing! The big player in the high-deductible arena, United American, offers its Reserve Fund Annuity that will pay deductibles...
by tj
Wed Mar 20, 2024 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

I have the High Deductible G plan. After doing a lot of research i found the F plan (which they no longer offer), the C plan and the G plan offer the best benefits. (see: https://www.medicare.gov/health-drug-plans/medigap/basics/compare-plan-benefits) After some quick calculations, i decided on the High Deductible G plan. as the total cost of the plan's deductible ($2,800) + 12 months of the $72 premium is less expensive than paying for 12 months of any other plan's monthly premium. (costs vary from state.) If you are in relatively good health, it is highly unlikely that you will fulfill the $2,800 deductible (as Medicare payment rates are SIGNIFICANTLY lower than the billed amount), so you'll be ahead financially for each year that you do...
by tj
Wed Mar 20, 2024 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

placeholder wrote: Wed Mar 20, 2024 8:08 pm
tj wrote: Wed Mar 20, 2024 7:46 pm That's not correct. The G HD does not pay the part A deductible for you. If it did....I think more people would use it.
It pays the deductible subject to the plan deductible just as it pays the 20% that part b doesn't so it's one of the covered expenses.

OK, let's be clear.

The G HD does not "pay the Part A deductible for you".

If you were to be hospitalized, you are paying the $1600 Part A deductible yourself which does go towards the $2800 HD G limit.

but if you have Plan G, the only expense you are responsible for Part B deductible, while the Part A deductible is literally paid for you.

The comment that I responded to stated "Both varieties of G plans pay the part A deductible for you "
by tj
Wed Mar 20, 2024 7:48 pm
Forum: Personal Consumer Issues
Topic: Moving to San Diego from Sleepy Low Cost Area
Replies: 77
Views: 8201

Re: Moving to San Diego from Sleepy Low Cost Area

JustGotScammed wrote: Wed Mar 20, 2024 7:46 pm What is the most walkable part of San Diego to live?
Downtown?
by tj
Wed Mar 20, 2024 7:47 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

Can someone explain the situation to me please. ...what would I get for the $500k transfer from Schwab to Robinhood. Also, can the transfer be in-kind or do I have to sell the equities and transfer cash? The transfer from Vanguard to TD was in-kind and that really helped. Is there withdraw or early penalty or any fees paid to IRS or Robinhood, beside the Gold membership, for this transaction? Transfer in kind, no selling. You'll get a 3% bonus, just like everyone Else. You'll pay for gold for a year. RH has a $100 transfer-out fee you'll pay in 5yrs if you leave. If you withdraw before 5yrs, or cancel Gold before 1yr, you lose 2/3 of that bonus. The Terms answer all your questions. https://robinhood.com/us/en/support/articles/ira-gold-matc...
by tj
Wed Mar 20, 2024 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

Equivalent of plan G. Most coverage available. It's important to understand the so-called "medical loss ratio" (offensive insurer-centric name, "benefit-to-premium ratio" would be better). It's typically 80-85%. It's actually 82.5% for the one I have. There are rules for how much they are required to pay, and one year when the plan I was on didn't meet the requirement, they had to send out rebate checks. When I looked into it, the medical loss ratio was a little higher for the higher-end plans, meaning that statistically they were a slightly better "buy." That wasn't the reason we went for the high-end plan but it did factor into the decision. What an 80-85% benefit-to-premium ratio tells me, is that even thou...
by tj
Wed Mar 20, 2024 6:19 pm
Forum: Personal Consumer Issues
Topic: Maintaining a new Global Entry membership (USA)
Replies: 20
Views: 1682

Re: Maintaining a new Global Entry membership (USA)

Tabulator wrote: Tue Mar 19, 2024 9:54 pm Do you mean no interview at all, not even a virtual or computer interview?
life in slices wrote: Tue Mar 19, 2024 12:14 pm I’ve renewed it 3 or 4 times with no interview, but current renewal is still in pending status so will have to wait and see, but expect no interview
Nope. Just paid them and they sent a new card.
by tj
Wed Mar 20, 2024 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Considering a Career Change From Marketing to Financial Planning
Replies: 28
Views: 1887

Re: Considering a Career Change From Marketing to Financial Planning

Roth Evangelist I have spent my entire career in the financial services industry, first as a bond & stockbroker for Smith Barney, and hated every day of it. The past 25 years I have worked in the RIA channel as a registered investment advisor representative and have loved every day of it - absolute pure joy helping people make smart investing and financial planning decisions that will carry them through their lifetime, especially including elder care and end-of-life issues that in my opinion are not highlighted enough on this forum. There has never been a better time to enter this arena of helping people, make a great living at it, and spend your life on something you are passionate about. Of course this forum is a wonderful resource f...
by tj
Wed Mar 20, 2024 6:03 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119675

Re: Robinhood 3% IRA Match

Can someone explain the situation to me please. ...what would I get for the $500k transfer from Schwab to Robinhood. Also, can the transfer be in-kind or do I have to sell the equities and transfer cash? The transfer from Vanguard to TD was in-kind and that really helped. Is there withdraw or early penalty or any fees paid to IRS or Robinhood, beside the Gold membership, for this transaction? Transfer in kind, no selling. You'll get a 3% bonus, just like everyone Else. You'll pay for gold for a year. RH has a $100 transfer-out fee you'll pay in 5yrs if you leave. If you withdraw before 5yrs, or cancel Gold before 1yr, you lose 2/3 of that bonus. The Terms answer all your questions. https://robinhood.com/us/en/support/articles/ira-gold-matc...
by tj
Wed Mar 20, 2024 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Medigappers: which plan do you have and why
Replies: 89
Views: 5041

Re: Medigappers: which plan do you have and why

Equivalent of plan G. Most coverage available. It's important to understand the so-called "medical loss ratio" (offensive insurer-centric name, "benefit-to-premium ratio" would be better). It's typically 80-85%. It's actually 82.5% for the one I have. There are rules for how much they are required to pay, and one year when the plan I was on didn't meet the requirement, they had to send out rebate checks. When I looked into it, the medical loss ratio was a little higher for the higher-end plans, meaning that statistically they were a slightly better "buy." That wasn't the reason we went for the high-end plan but it did factor into the decision. What an 80-85% benefit-to-premium ratio tells me, is that even thou...
by tj
Wed Mar 20, 2024 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Did I "get away with" a 2 year IRMAA lookback?
Replies: 11
Views: 2340

Re: Did I "get away with" a 2 year IRMAA lookback?

IRMAA is not a penalty. It's a surcharge for people with higher incomes. You wouldn't say that everyone above the 12% federal tax bracket is paying a penalty, would you? Yes, I would want to say it is a penalty. My wife and worked hard and achieved a lot of wealth while working so we paid ALOT of Medicare tax, far more than most. Now in retirement, if we recognize more income we AGAIN have to pay more. Seems entirely unfair and absolutely feels like another tax or a penalty. I doubt it will make you feel better but the way the Medicare law is written is not that you are paying a higher premium but that you are getting a lower government subsidy with higher income, sort of like the ACA subsidies. The standard Part B subsidy pays 75% of the ...