Search found 77 matches

by formerlybroke
Tue Feb 23, 2021 12:58 pm
Forum: Personal Investments
Topic: Customer Service with Vanguard
Replies: 350
Views: 29792

Re: Customer Service with Vanguard

Called to follow-up on outstanding transfer out of Vanguard to Fidelity. Knowing they have had long hold times I selected the 'move money to Vanguard' phone option in the hopes that the call would be answered faster. Ha! +16 minutes on hold. And, to add insult to injury, it's taken them 3 weeks to b...
by formerlybroke
Tue Feb 16, 2021 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: How should I spend all this money?
Replies: 72
Views: 8972

Re: How should I spend all this money?

My Twitter feed has more than one person who gives away money. They post something to the affect of: “I know times are hard for so many, and if you’re struggling leave me your CashApp, Venmo, or PayPal and let me know what you need”. As you might imagine they get hundreds of replies. I read through ...
by formerlybroke
Mon Feb 15, 2021 4:35 pm
Forum: Personal Investments
Topic: Should the amount of SIPC insurance an investment house has, determine how much you invest with them?
Replies: 2
Views: 208

Re: Should the amount of SIPC insurance an investment house has, determine how much you invest with them?

Do you allow that amount of insurance to determine how much you will invest with them? Via SIPC site: “ SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm.” As neither Fidelity nor Vanguard meet ...
by formerlybroke
Mon Feb 15, 2021 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house using an Agent and a Tiered Commission Structure 3%, 5% and 10%. Anyone?
Replies: 22
Views: 9692

Re: Selling house using an Agent and a Tiered Commission Structure 3%, 5% and 10%. Anyone?

Have successfully used a tiered model to sell based on time, not price. In all cases my agent agrees to pay full 3% to buyers agent. Here’s what was agreed to at the time. Note, this was during a period when real estate was just entering a sellers market after a cyclical dip. 4.5% if escrows opens w...
by formerlybroke
Sun Jan 17, 2021 5:33 pm
Forum: Personal Investments
Topic: Where would you tell a 20 yo to invest 5000$
Replies: 60
Views: 4217

Re: Where would you tell a 20 yo to invest 5000$

First thing I’d do is make sure he knows that the dollar sign precedes the number: $5000.

Always has.

You’ve not mentioned any timeline so it’s hard to say.
by formerlybroke
Sun Jan 17, 2021 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should folks who are able be spending more?
Replies: 47
Views: 4440

Re: Should folks who are able be spending more?

Have ordered meal online (restaurant direct vs 3rd party delivery) and in notes for order have asked that meal be 1) donated to community member in need 2) proceeds pocketed by owner.

:sharebeer
by formerlybroke
Sun Jan 17, 2021 12:31 pm
Forum: Personal Investments
Topic: Dimensional Funds
Replies: 9
Views: 871

Re: Dimensional Funds

anon_investor wrote: Sat Jan 16, 2021 7:05 pm Doesn't DFA offer ETFs now? That may be a better option than paying an advisor 1%.
Active ETFs launched Q4 2020
https://us.dimensional.com/etfs
by formerlybroke
Tue Jan 12, 2021 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity spousal accounts under same login
Replies: 5
Views: 6281

Re: Fidelity spousal accounts under same login

Brokerages generally have provisions to give others access to your accounts at varying levels. With some you can do it all on-line, other require paper forms (sometimes with signatures notarized). I don't think marriage grants any special access, you still have to proceed with their procedures. htt...
by formerlybroke
Sat Jan 09, 2021 6:20 pm
Forum: Personal Investments
Topic: North American Annuity
Replies: 50
Views: 2801

Re: North American Annuity

In 2021 the notion that ALL index annuities are bad is both dated and ill informed. As with any product there are providers that deliver well constructed contracts, at appropriate fee levels, to support index related returns. Do you have any particular indexed annuities in mind? Plenty to explore h...
by formerlybroke
Sat Jan 09, 2021 5:52 pm
Forum: Personal Consumer Issues
Topic: Does anyone have a dishwasher they recommend?
Replies: 161
Views: 11153

Re: Does anyone have a dishwasher they recommend?

We have had good luck with Bosch dishwashers. The most recent purchase was SilencePlus ( https://www.bestbuy.com/site/bosch-500-series-24-top-control-built-in-dishwasher-with-autoair-stainless-steel-tub-3rd-rack-44-dba-stainless-steel/6360648.p?skuId=6360648 ) a couple years ago and it does a good ...
by formerlybroke
Sat Jan 09, 2021 5:49 pm
Forum: Personal Investments
Topic: North American Annuity
Replies: 50
Views: 2801

Re: North American Annuity

In 2021 the notion that ALL index annuities are bad is both dated and ill informed. As with any product there are providers that deliver well constructed contracts, at appropriate fee levels, to support index related returns. That said, index annuities are far more complex and require you to do addi...
by formerlybroke
Mon Jan 04, 2021 7:38 pm
Forum: Personal Consumer Issues
Topic: Recommendations for home paper shredder
Replies: 81
Views: 8461

Re: Recommendations for home paper shredder

This beast has been churning through everything in its path for 11 years, never an issue:

Fellowes Powershred 79Ci 100% Jam Proof Medium, Duty Cross, Cut Shredder
https://amzn.to/3nj0cc9

Really well made product.
by formerlybroke
Mon Jan 04, 2021 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 112
Views: 10763

Re: For those retired or FI, how much do you spend annually?

What is the typical cost for health insurance for a couple before they come of age to qualify for medicare benefits in California? Wouldn't this be a huge cost for FIRE retirees? I’m 60, so five years before Medicare kicks in. CA resident, no kids, no subsidy. 2021 is $1759 per month for silver pla...
by formerlybroke
Mon Jan 04, 2021 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 112
Views: 10763

Re: For those retired or FI, how much do you spend annually?

From CFP Board whitepaper: Building a Wealth Management Practice: Measuring CFP® Professionals' Contribution https://tinyurl.com/y585cgyl This study references four different segments of advisor clients based on investable assets :  Mass-market clients have less than US$100,000 in investable assets...
by formerlybroke
Mon Jan 04, 2021 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 112
Views: 10763

Re: For those retired or FI, how much do you spend annually?

Does anybody spend significantly more than $90k/year in retirement? I speak with hundreds of retirees each year. Most are HNW individuals or couples. The median budget in retirement is about $70,000 - this includes travel but does not include income tax or gifts. Only about 10% of the retirees I sp...
by formerlybroke
Sun Jan 03, 2021 11:44 pm
Forum: Investing - Theory, News & General
Topic: Reinvesting dividends vs. trading costs
Replies: 7
Views: 405

Re: Reinvesting dividends vs. trading costs

May I’m not understanding your question. Reinvesting dividends in the same fund/ETF is done without cost. If you’re investing dividends from fund A into fund B, and the funds are no load, where’s the $10 charge coming from? Short answer for me: don’t accumulate dividends. Reinvest as they are paid, ...
by formerlybroke
Sun Jan 03, 2021 11:33 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 25886

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

Never. Ever.

DW enjoys all forms of yard work, DIY repair, painting, remodeling. Only gal in the neighborhood with TWO leaf blowers.

Have offered to hire gardener multiple time. After 33 years I’ve stopped asking...
by formerlybroke
Sun Jan 03, 2021 5:07 pm
Forum: Personal Consumer Issues
Topic: Unclaimed Property/Escheated Funds
Replies: 5
Views: 1632

Re: Unclaimed Property/Escheated Funds - Found Money?

Just listened to a podcast episode that updated folks that ‘found’ money that had been escheated. Thought, after searching archives, I’d bump this - as yesterday I was searching on behalf of family at various states’ sites. No luck for me, but there’s a whole lot of money out there waiting to be cla...
by formerlybroke
Sun Jan 03, 2021 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Buying expensive home vs cheap home and renovation
Replies: 50
Views: 3592

Re: Buying expensive home vs cheap home and renovation

Agreed. Kitchen alone can hit 50k pretty fast. Maybe I should pass 3) then? I cannot imagine being happy living there. Ive done that enough living in a walk up of manhattan for a year. OP Look cost of home improvements is always in a range determined by what you decide to do. Lot of good points by ...
by formerlybroke
Sun Jan 03, 2021 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Buying expensive home vs cheap home and renovation
Replies: 50
Views: 3592

Re: Buying expensive home vs cheap home and renovation

Always go for the best neighborhood. You can always add on or remodel later on, but you can't change your neighborhood without selling. Be sure to look at school ratings if that's important for you. Also school ratings affect home prices. We've both purchased a new home and remodeled an older home....
by formerlybroke
Sat Jan 02, 2021 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Single Member LLC quarterly tax question. Need help!
Replies: 3
Views: 223

Re: Single Member LLC quarterly tax question. Need help!

When I first exited corporate America and entered entrepreneurial America in 2007 (with LLC as you), I decided to use online payroll service to handle all payroll processing and tax payments/reporting. Yes, it’s a $55 cost per month, and is worth more to me as I don’t spend extra time trying to unde...
by formerlybroke
Sat Jan 02, 2021 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564107

Re: Share your net worth progression

Dates posted below as start of year, with my age (wife is a bit younger). Net worth is joint and include home/car values/loans when applicable. 2016, age 22 | -12.000 (I started grad school, wife in undergrad) 2017, age 23 | 24,500 (wife graduated, started working) 2018, age 24 | 331,000 (lucky tra...
by formerlybroke
Sat Jan 02, 2021 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564107

Re: Share your net worth progression

1976 $0.00 Literally, we spent our last dollar on drinks on our way home from our honeymoon. 40 years with the same company. Low level manager. Frugal. Generous. Reliable investor: 70/30 S&P 500/GNMA all the way. Raised two boys and paid for their college. 2020 $3.2 million Simple (not easy) st...
by formerlybroke
Sat Jan 02, 2021 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564107

Re: Share your net worth progression

31, single income, 2 kids. Feel pretty good about our NW increase this year, since we bought a house w/ acreage, and there was a lot of capital expended on new tools and equipment to maintain the property. 2017 - $162,984 2018 - $213,642 2019 - $289,308 2020 - $383,954 At 31? Yeah, you should feel ...
by formerlybroke
Sat Jan 02, 2021 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564107

Re: Share your net worth progression

Happy New Year! Year - Age - Net Worth - Salary 2019 - 22 - $8,100 - $12,100* 2020 - 23 - $75,800 - $89,200 I like the idea of tracking and updating here annually. I'm most inspired by the more "average-earner" progressions since I'm not in a high-paying career, but it's also nice to see ...
by formerlybroke
Fri Jan 01, 2021 7:44 pm
Forum: Personal Investments
Topic: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas
Replies: 137
Views: 8288

Re: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas

You are correct I cannot assess the commissions, embedded within the rates, but what I can do is look to see if there's any small difference in rates or any pattern thereof. If I don't see any distinctive pattern between the providers, then I have to assume the internal cost structure is similar. T...
by formerlybroke
Fri Jan 01, 2021 6:17 pm
Forum: Personal Investments
Topic: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas
Replies: 137
Views: 8288

Re: Purchasing MYGAs - Blueprint Income vs. Gainbridge vs. Canvas

It will be interesting to see if we can discern any difference in commissions to the provider, by comparing rates. Hopefully there will be enough MyGAs to compare. Speaking as a former senior executive at an insurance carrier who sold annuities, and who was actively involved in both the rate settin...
by formerlybroke
Fri Jan 01, 2021 12:53 am
Forum: Personal Finance (Not Investing)
Topic: 2020 Net Worth
Replies: 111
Views: 7384

Re: 2020 Net Worth

Our net worth increased 30% this year. It includes value of our home equity because that's the definition of net worth. Excluding home equity is by definition not net worth. +1...Thank you. Major re-engineering of portfolio in 2020 = significant reduction in equities. Still had 13.5% increase in NW...
by formerlybroke
Thu Dec 31, 2020 1:32 pm
Forum: Personal Consumer Issues
Topic: Are/Were you in a Mastermind Group?
Replies: 12
Views: 1899

Re: Are/Were you in a Mastermind Group?

I have both participated in and been the paid leader of mastermind groups. The one I participated in was a professional group of small business owners and the sole focus of the group was improving our practices through better uses of technology. It was quite productive and most calls resulted in an...
by formerlybroke
Wed Dec 30, 2020 9:32 pm
Forum: Personal Investments
Topic: Invest in a family friend's hedge fund?
Replies: 44
Views: 2288

Re: Invest in a family friend's hedge fund?

I'm 33, generally a passive index fund investor and have little interest in (or experience with) active, higher cost funds. - I currently have about 15% of my investable assets in cash (high yield savings) and would like to reduce that to 5% or less, but I'm nervous about adding that much to my ind...
by formerlybroke
Wed Dec 30, 2020 2:54 pm
Forum: Personal Consumer Issues
Topic: Personal Life Coach
Replies: 58
Views: 4293

Re: Personal Life Coach

I spend $80/hour twice a month to speak with a life coach. She seems to keep me on the rails and if I go too long without talking with her I tend to stray from my good habits. If she keeps you on point and you feel like it’s productive, it doesn’t matter what anyone here thinks. And I charge 5x tha...
by formerlybroke
Wed Dec 30, 2020 12:34 pm
Forum: Personal Investments
Topic: Solo 401K Deadline Sanity Check
Replies: 14
Views: 474

Re: Solo 401K Deadline Sanity Check

I found that as well and I also found it confusing... In order to make a contribution for this year, you must establish your Solo 401(k) plan by December 31, 2020 and make your employee contribution election by the end of the calendar year That makes it seem like you have to do it by year end. Unle...
by formerlybroke
Wed Dec 30, 2020 12:30 pm
Forum: Personal Investments
Topic: Solo 401K Deadline Sanity Check
Replies: 14
Views: 474

Re: Solo 401K Deadline Sanity Check

Post dated 11/8/20: “ While the 2019 SECURE Act extended the deadline to adopt a Solo 401k plan from the end of the year to the business tax return deadline including any timely filed extension, the IRS has not yet updated its prior guidelines stating that employee contributions must be elected by t...
by formerlybroke
Wed Dec 30, 2020 12:24 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2150
Views: 260545

Re: Post your Financial Milestone Announcements Here

On 09/26/2020 I reached 100k NW. I haven't dipped below it yet, somehow. I know that's pitiful to the majority of the posters here, but it was a significant milestone for me, and I'm quite proud of the progress. 100k is an enormous springboard. Keep up the good work.. compounding and your investing...
by formerlybroke
Wed Dec 30, 2020 12:10 pm
Forum: Personal Consumer Issues
Topic: Are/Were you in a Mastermind Group?
Replies: 12
Views: 1899

Re: Are/Were you in a Mastermind Group?

I have both participated in and been the paid leader of mastermind groups. The one I participated in was a professional group of small business owners and the sole focus of the group was improving our practices through better uses of technology. It was quite productive and most calls resulted in an ...
by formerlybroke
Wed Dec 30, 2020 11:57 am
Forum: Investing - Theory, News & General
Topic: ARM Reset - Basis question
Replies: 2
Views: 158

Re: ARM Reset - Basis question

Any ARM product we have had always bases payment off of current principal balance.

And we’ve made principal payments before the reset date to immediately lower the monthly payment.
by formerlybroke
Tue Dec 29, 2020 11:44 pm
Forum: Personal Consumer Issues
Topic: Personal Life Coach
Replies: 58
Views: 4293

Re: Personal Life Coach

I spend $80/hour twice a month to speak with a life coach. She seems to keep me on the rails and if I go too long without talking with her I tend to stray from my good habits. If she keeps you on point and you feel like it’s productive, it doesn’t matter what anyone here thinks. And I charge 5x tha...
by formerlybroke
Tue Dec 29, 2020 5:32 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2150
Views: 260545

Re: Post your Financial Milestone Announcements Here

aktx97 wrote: Tue Dec 29, 2020 2:33 pm I began 2020 with 7 debts and am ending it with only 2. I should be debt free (student loans) by the end of 2023.
Well done! :sharebeer
by formerlybroke
Mon Dec 28, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: 2020: Lessons learned
Replies: 237
Views: 16049

Re: 2020: Lessons learned

palanzo wrote: Mon Dec 28, 2020 5:53 pm
Tdubs wrote: Mon Dec 28, 2020 5:38 pm I stayed the course, but this thread has taught me that a lot of BHers think this once-in-a-century event (I hope) is instructive about how to invest over a couple decades.
This was certainly not a once-in-a-century event if you referring to the financial events.
+1
by formerlybroke
Mon Dec 28, 2020 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: 2020: Lessons learned
Replies: 237
Views: 16049

Re: Have a plan next time

TAX LOSS HARVEST MISSED OPPORTUNITY: In March of 2020, I didn't have a plan. I missed a chance to tax loss harvest (TLH). Vanguard's Intermediate Muni VWIUX was at $14.88 on March 9 $13.31 on March 20 $14.86 on Dec. 24 I could've done a TLH on March 19th, 20th, 23d, or 24th. I missed it. If VWIUX d...
by formerlybroke
Fri Dec 25, 2020 5:57 pm
Forum: Personal Consumer Issues
Topic: What exactly are YOU doing in retirement?
Replies: 93
Views: 8752

Re: What exactly are YOU doing in retirement?

Retirement for me (60 y/o) is financially and attitudinally well within reach - with one major consideration: What the heck will I be doing with my time? While my original plan was extensive world travel, courtesy of covid that will have to wait. So I ask you Bogleheads: -What are you doing to stay...
by formerlybroke
Thu Dec 24, 2020 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: What NON-frugal thing did you do today?
Replies: 161
Views: 11411

Re: What NON-frugal thing did you do today?

Surprised DW with a pair of pink w/red hearts wooly socks, lined with fleece. She was thrilled. CVS special $9.99. 8-) We spare no expense for the holidays.... Also, put my 89 y/o mother’s new Honda Civic lease payment on my checking account for auto-pay. And yes, I’m not sure 89 year olds should st...
by formerlybroke
Thu Dec 24, 2020 3:42 pm
Forum: Personal Consumer Issues
Topic: What exactly are YOU doing in retirement?
Replies: 93
Views: 8752

Re: What exactly are YOU doing in retirement?

There’s a LOT here, thanks for your replies and perspectives. One thing that’s had me thinking since I asked for this valuable feedback is the notion of allowing time to do ________. I spent 40 years in sales and executive management. You were either on a quota/judged by your monthly output or ensur...
by formerlybroke
Wed Dec 23, 2020 11:29 pm
Forum: Personal Consumer Issues
Topic: Screen recording and narration software?
Replies: 5
Views: 308

Re: Screen recording and narration software?

Been using Screencast O-Matic for years. Simple & affordable. Looks like they have a holiday special in progress:

https://screencast-o-matic.com/plans
by formerlybroke
Wed Dec 23, 2020 2:23 pm
Forum: Personal Consumer Issues
Topic: What exactly are YOU doing in retirement?
Replies: 93
Views: 8752

Re: What exactly are YOU doing in retirement?

7eight9 wrote: Wed Dec 23, 2020 2:19 pm Bored to tears. The highlight of my day is when I can go back to sleep.
Yikes, appreciate the honesty.
by formerlybroke
Wed Dec 23, 2020 2:16 pm
Forum: Personal Consumer Issues
Topic: What exactly are YOU doing in retirement?
Replies: 93
Views: 8752

Re: What exactly are YOU doing in retirement?

Taylor Larimore wrote: Wed Dec 23, 2020 2:13 pm My "spare" time is spent trying to help investors on the Bogleheads Forum!
Thanks Taylor - what's occupies your time that isn't "spare" (assuming your retired) and if you don't mind the question.
by formerlybroke
Wed Dec 23, 2020 1:56 pm
Forum: Personal Consumer Issues
Topic: What exactly are YOU doing in retirement?
Replies: 93
Views: 8752

What exactly are YOU doing in retirement?

Retirement for me (60 y/o) is financially and attitudinally well within reach - with one major consideration: What the heck will I be doing with my time? While my original plan was extensive world travel, courtesy of covid that will have to wait. So I ask you Bogleheads: -What are you doing to stay ...