Search found 6882 matches

by beyou
Tue Mar 26, 2024 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

The vast majority of desktop hacks come from phishing emails where you click on links received. I don't see how you can NOT use email on some dedicated financial computer, you need email to communicate with all these financial firms. Of course one can use a dedicated EMAIL address for financial firms, then only use that email on your dedicated computer. Of course if your financial firm sells your email, then it will get out. If you use gmail, it will get out. I don't do segregate tasks/desktops/emails, I prefer to try and be safe on any device, any email etc. I use a bookmarks to visit the vast majority of sites, so I know I am visiting the site I intend. Never click email links. I use a pwd manager so the pwd manager will only type the pw...
by beyou
Tue Mar 26, 2024 11:44 am
Forum: Personal Investments
Topic: Buy OOS Muni Bonds?
Replies: 11
Views: 449

Re: Buy OOS Muni Bonds?

A muni money market may work for you. Zero price fluctuation. Agreed. VMSXX may fit the bill. No worry about credit risk, and no time spent on investigating bond issuers. Regards, Or a short term muni fund such as VWSTX or VMLUX. VWSTX is ultra short term. I never understand this belief that somehow one cannot lose if you buy individual bonds. From a credit risk standpoint, this is far riskier than a fund, risking default. From an interest rate risk, yeah I sorta get the notion that “I can hold to maturity” but this thinking is stuck in the low inflation assumptions. 1000 in 2 years is not worth the same regardless of inflation. If inflation goes back to 10%, your 1000 principal returned at the end IS A LOSS. You have less buying power tha...
by beyou
Tue Mar 26, 2024 11:31 am
Forum: Personal Investments
Topic: Those complimentary dinners for retirees by investment advisors
Replies: 143
Views: 10510

Re: Those complimentary dinners for retirees by investment advisors

dodecahedron wrote: Tue Mar 26, 2024 10:47 am
beyou wrote: Tue Mar 26, 2024 9:49 am One of the advantages to being vegetarian, easier to ignore the free steak dinner offers.
Not exactly a vegetarian (I do eat seafood a couple times a week but otherwise plant-based) but definitely agree in spirit. No good seafood places around here (though I might be tempted if we lived near the ocean!) and while there are a few excellent vegan places I like, these types of events never seem to be hosted at them!
We’re lucky if the vegan places stay in business, giving us the opportunity to be paying customers ;-)
by beyou
Tue Mar 26, 2024 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

The vast majority of desktop hacks come from phishing emails where you click on links received. I don't see how you can NOT use email on some dedicated financial computer, you need email to communicate with all these financial firms. Of course one can use a dedicated EMAIL address for financial firms, then only use that email on your dedicated computer. Of course if your financial firm sells your email, then it will get out. If you use gmail, it will get out. I don't do segregate tasks/desktops/emails, I prefer to try and be safe on any device, any email etc. I use a bookmarks to visit the vast majority of sites, so I know I am visiting the site I intend. Never click email links. I use a pwd manager so the pwd manager will only type the pw...
by beyou
Tue Mar 26, 2024 9:49 am
Forum: Personal Investments
Topic: Those complimentary dinners for retirees by investment advisors
Replies: 143
Views: 10510

Re: Those complimentary dinners for retirees by investment advisors

One of the advantages to being vegetarian, easier to ignore the free steak dinner offers.
by beyou
Tue Mar 26, 2024 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

JoeNJ28 wrote: Tue Mar 26, 2024 9:38 am Since the vast majority of the financial hacks seem to be phishing and social engineering I don’t see how a seperate pc stops any of this. If the fbi calls and you give your social and info to them the people will just do it from their end. Doesn’t matter that you have a separate finance computer that’s hardwired only and you disconnect the network cable after use.
+1
by beyou
Tue Mar 26, 2024 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

The vast majority of desktop hacks come from phishing emails where you click on links received. I don't see how you can NOT use email on some dedicated financial computer, you need email to communicate with all these financial firms. Of course one can use a dedicated EMAIL address for financial firms, then only use that email on your dedicated computer. Of course if your financial firm sells your email, then it will get out. If you use gmail, it will get out. I don't do segregate tasks/desktops/emails, I prefer to try and be safe on any device, any email etc. I use a bookmarks to visit the vast majority of sites, so I know I am visiting the site I intend. Never click email links. I use a pwd manager so the pwd manager will only type the pwd...
by beyou
Tue Mar 26, 2024 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

dknightd wrote: Tue Mar 26, 2024 7:45 am I would never have only one Dedicated Financial Computer.

What if that computer died when I needed it. I like to have options.
This. +1

Also note the more computers you have, the more security updates you have to have applied.
You either do this manually (takes time) or allow it to run automatically (and hope it doesn't break your computer at an inconvenient time).
by beyou
Tue Mar 26, 2024 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

I think it’s hard for a financial company to say this is a good implementation. The fraction of people who run Linux is tiny compared to windows or a Mac so again, I think it will be hard to find someone from a financial company who is up on the latest Linux systems. Well I worked in IT for financial services companies for the last 40 years. Financial companies were amongst the earliest commercial adopters of unix and then linux. BlackRock used exclusively Solaris Unix back in the 1990s. In the late 90s I converted another financial firm from Solaris to Linux servers. I have used Linux commercially in yet another firm ever since then, and so did many of my colleagues in the industry. As far as DESKTOP linux, no, windows pushed unix out of ...
by beyou
Mon Mar 25, 2024 2:19 pm
Forum: Personal Investments
Topic: Horrified by Schwab Platform -- Where to Next?
Replies: 94
Views: 15644

Re: Horrified by Schwab Platform -- Where to Next?

Yeah, I got switched from TD to Schwab and agree. It’s just not a great design TD was far better. I have a few stocks from pre-boglehead days that now the dividends won’t reinvest- they aren’t exactly deep cuts (Brookfield Renewable). Not impressed. For all the talking crap on Robinhood they reinvest dividends faster than Schwab. I might try Fidelity for retirement. I like Robinhood for brokerage. So simple. I worked in the industry, including at one point building a site like this for an institutional broker (so none of you would know the site/firm). One thing I faced multiple times working in tech for brokers & fund managers, is no matter how hard you work to build a best in class platform for customers, eventually some non-technical...
by beyou
Mon Mar 25, 2024 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Federal efile rejected * H&R Block
Replies: 54
Views: 7110

Re: Federal efile rejected * H&R Block

And many posters complain about the cost of TT.
by beyou
Mon Mar 25, 2024 9:05 am
Forum: Personal Investments
Topic: buying mutual funds seems easier than buying ETFs
Replies: 64
Views: 4893

Re: buying mutual funds seems easier than buying ETFs

For equities, and some volatile bond funds, I PREFER ETFs for the very concerns you are expressing. With a mutual fund, I have no idea what I am paying/receiving, the market could move significantly if I place an order in the morning, and I am stuck with wherever the market ends up later that day. With an ETF I can place an order now and get the price within seconds, which is much closer to getting a known price than waiting for EOD. The main case to avoid ETF is those smaller (asset wise) ones that have very low trading volume. Look at the average trading volume and if you stick to those with millions, not thousands of shares trading per day, your "market" orders will execute fast and close to the prices you observe before placin...
by beyou
Mon Mar 25, 2024 8:49 am
Forum: Personal Investments
Topic: With Schwab Robo advisor, can I select specific ETFs?
Replies: 9
Views: 735

Re: With Schwab Robo advisor, can I select specific ETFs?

Amazing to me how fully automated services went from a feature to attract customers to a product to be sold. Yes, no explicit fees but the cash drag is a fee, no question. FWIW, my son has a 401k at Fidelity and while the TLH is not relevant, they had auto-rebalancing which was nice. One day they removed the auto rebalance and only offer to email you a reminder to rebalance at the thresholds. I am not sure, but I can imagine that Fidelity wanted to charge his employer for this service and this was declined. That or maybe they wanted to minimize small trades churning Fido funds, but either way, taking away or charging fees that discourage automation is unfortunate. Difference is with a 401k you don't know who to blame, employer or Fidelity.
by beyou
Sat Mar 23, 2024 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

Been using Citibank as one of our households local bricks&mortar bank however Citi is on the cusp of changing everything over to their "Simplified Banking" which to me is far from simplified. Multiple reads of their Simplified Banking collaterals completed and all I can glean out of it is there will be no more monthly interest on Citi checking accounts, you must maintain $30k in a mix of savings and checking to avoid monthly fees, and all this just to get a somewhat better CD rate than JPMorgan/Chase. Anyone glean anything out of Citi's cryptic mumbo jumbo? My take away from this post is: Stay with no fee interest free checking which requires no minimum balance. For high interest, put money in banks or brokerage houses which ...
by beyou
Sat Mar 23, 2024 7:55 pm
Forum: Personal Investments
Topic: Can TIPS in a taxable account make sense?
Replies: 22
Views: 2686

Re: Can TIPS in a taxable account make sense?

Artsdoctor wrote: Mon Mar 18, 2024 6:08 pm If you want to keep things as simple as possible, consider taking the taxable bond funds in your tax-deferred accounts and purchasing an equivalent sum of munis in your taxable account. You'd then free up some space in your tax-deferred account to buy TIPS. There are many ways to handle it although I'd argue for putting a premium on simplicity.
This is what I did.
by beyou
Sat Mar 23, 2024 5:27 pm
Forum: Personal Consumer Issues
Topic: Walmart Plus Feels Like A Scam
Replies: 53
Views: 5994

Re: Walmart Plus Feels Like A Scam

Around here, Wal-Mart uses Doordash drivers for store orders. I had an absolutely horrid experience with my order a few years ago. The driver apparently waited for a while at the store, but never got the order. It was simply never delivered. I was still charged for the full order. It was hell dealing with their customer service to get it refunded. Their logistics and customer service don't hold a candle compared to Amazon Prime. They are not even in the same universe. Needless to say, I did not extend my membership beyond the free trial period. +1 THIS is the reason I pay Prime, great service. Fast and efficient and eager to please. That and the fact my Prime Visa gives so much extra back that it pays for Prime anyway. I like paramount and...
by beyou
Sat Mar 23, 2024 9:19 am
Forum: Personal Finance (Not Investing)
Topic: At what age to tell child about family's finances
Replies: 74
Views: 6106

Re: At what age to tell child about family's finances

I think this discussion has been done before :-) I think it best to wait until your children are working and supporting themselves in some type of chosen career. Best this maturation process is not impacted by knowing what they will or wont get from the parents. The trigger point for us was deciding it was time for an estate plan and that our child was old enough to be an executor/trustee (actually co with his uncle). I figured best to explain the estate plan to my brother and son while I am alive rather than have them figure it out when I am gone. Gave them a walk through and written instructions of what I suggest they do in my absence. I definitely waited for one of my sons to gain some level of financial education/interest before doing a...
by beyou
Sat Mar 23, 2024 9:12 am
Forum: Personal Finance (Not Investing)
Topic: 12 months before retirement what do you wish you had done
Replies: 72
Views: 8829

Re: 12 months from retirement what do you wish you had done

Not so much what I wish but did. Most industries have layoffs, whether forced or voluntary. If you have no pension, a severance package may be the closest thing you get. I was thinking about retirement but knew "at some point" there will be a layoff, there always are. Mine was voluntary, but I took it to get some paid time off, with salary & medical benefits continuing. I didn't get as much as I hoped, because they really didn't want me to leave, but I got something tangible. It gave me that financial transition period where I am not working but still being paid, which was psychologically easier to deal with. Felt less like jumping off a cliff. The other advice, while waiting, get your head into that retirement space. 1) Don't...
by beyou
Fri Mar 22, 2024 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Dedicated Financial Computer Master Thread
Replies: 209
Views: 9712

Re: Dedicated Financial Computer Master Thread

I can see the arguments for using a separate dedicated computer, but think it would be overkill if you do the following. Use unique, long passwords Use 2FA with a security key, authenticator or Google Voice number Use a different username for each financial account Use a dedicated email address for financial accounts Check your accounts daily Get email AND text alerts of any trading activity or large transactions Have your brokerage/bank accounts customer services on speed dial Lock your brokerage accounts to the extent possible/practical Install anti-malware (e.g., Malwarebytes) on your computer Otherwise practice good computer hygiene--don't click on email links, visit dodgy sites, etc. I'm sure others will have additions to the above li...
by beyou
Fri Mar 22, 2024 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

Yes, fortunately we are not stupid enough and unfortunately we are not wealthy enough to store millions of dollars in watches and jewelry in a safety deposit box. Given the number of safety deposit boxes in the US and the number of crimes, I’m comfortable storing some key documents and jewelry when we’re on vacation. Do you have an alternative suggestion? I was a Citibank customer for 35 years before I received my first kyc call. I answered all their questions but my answers generated new questions and the answers to those questions generated even more questions. And then they started fresh the following year and the year after that. Finally I spoke to our relationship manager, she intermediated a round of questions and I never heard anoth...
by beyou
Fri Mar 22, 2024 11:06 am
Forum: Personal Investments
Topic: VXUS Dividends showing up as all non-qualified
Replies: 17
Views: 1817

Re: VXUS Dividends showing up as all non-qualified

I had vanguard convert my VTIAX shares to the ETF VXUS inside of my Vanguard taxable brokerage account, so I could then transfer it in kind to Fidelity. The transfer to Fidelity happened at the end of February. I just received my first dividend payment of VXUS and all of the dividends are showing up as Non-Qualified. Where as in the past they have been a mix of qualified and non-qualified. Usually 60/40 split qualified vs non qualified. The cost basis looks like it was transferred properly to Fidelity so the individual purchase ages should be fine. Would the conversion to ETF have caused any issue with dividends now being listed as non-qualified? I would assume since it was a conversion that the dividend classification should stay the same...
by beyou
Fri Mar 22, 2024 10:13 am
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

The major reason why we currently have this relationship with Citi is the fact they are one of the very rare nation wide bank which still redeems matured US Savings bonds which is currently important to us. JPMorgan/Chase this past year now refuses to redeem matured savings bonds and instead pushes back stating it's best to mail them into Treasury Direct. TD for us has been a nightmare due to the extremely long wait times until your redeemed bonds are credited. I'm talking almost 14 weeks of giving TD an interest free loan not knowing if things were on hold or on the cusp of crediting. Like others we also spread risk by having checking accounts with Chase and avoid small regional banks having seen come of the headaches when they go "b...
by beyou
Fri Mar 22, 2024 9:54 am
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

We keep enough $ in brokerage etfs to qualify for citigold. It’s a pretty good package, especially if you live in or around nyc and can take advantage of the free citibike membership and the culture pass. Even without those perks, it’s nice to have the subscription rebate and a personal banker. Best, As I just put enough for the Priority status (not gold yet), I wonder what your personal banker does for you ? I definitely do not want anyone managing my account for me, so what else have or could they do for you ? Very little, they don’t manage my account but they were able to facilitate citigold status for my family members, ran interference on compliance when I complained about a never ending series of kyc calls, and I believe they helped ...
by beyou
Thu Mar 21, 2024 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

gips wrote: Thu Mar 21, 2024 11:44 pm We keep enough $ in brokerage etfs to qualify for citigold. It’s a pretty good package, especially if you live in or around nyc and can take advantage of the free citibike membership and the culture pass. Even without those perks, it’s nice to have the subscription rebate and a personal banker.

Best,
As I just put enough for the Priority status (not gold yet), I wonder what your personal banker does for you ?
I definitely do not want anyone managing my account for me, so what else have or could they do for you ?
by beyou
Thu Mar 21, 2024 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

swong wrote: Thu Mar 21, 2024 4:29 pm I would go with the ETF route but I already have a brokerage account with Schwab and don't wish to equities spread in multiple brokerage houses.
Actually one of my reasons for creating the Citi brokerage account was the fear of having all my eggs in one basket at my primary brokerage.
by beyou
Thu Mar 21, 2024 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

eric321 wrote: Thu Mar 21, 2024 4:43 pm The key simplification is that accounts that used to earn thank you points no longer earn thank you points once converted.
They announced the end of that program long ago.
And frankly I never got the value of that program when it was introduced. I ignored it.
by beyou
Thu Mar 21, 2024 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Citi - new fee unless you have $30k or make monthly deposits
Replies: 86
Views: 12153

Re: Citi - new fee unless you have $30k or make monthly deposits

You can maintain a zero balance so long as you make $250/month in Enhanced Direct Deposits, which appear to be any deposits through the ACH. exodusing- Our brick and mortar bank gives a monthly statement which shows each category requirement for free checking and how it was met. Each direct deposit counts toward the requirement. For us that is bond interest, dividends, and royalties. It does not have to be W2 wages or SS. If you get a monthly statement like this it will be easy to see what qualifies as an "Enhanced Direct Deposit". I can't even find a way to download a checking acct statement from Citi's website! :confused No matter which statement link I choose - it always shows me my Citi cc statement. Oh how Citi is frustratin...
by beyou
Thu Mar 21, 2024 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Citi - new fee unless you have $30k or make monthly deposits
Replies: 86
Views: 12153

Re: Citi - new fee unless you have $30k or make monthly deposits

I know but I can't move away from Citi right now for other reasons. From Citi's definition of EDD: An EDD is an electronic deposit through the Automated Clearing House (“ACH”) Network of payroll, pension, social security, government benefits and other payments to your checking or savings account. An Enhanced Direct Deposit also includes all deposits via Zelle® and other P2P payments when made via ACH using providers such as Venmo or PayPal. Teller deposits, cash deposits, check deposits, wire transfers, transfers between Citibank accounts, ATM transfers and deposits, mobile check deposits, and P2P payments using a debit card do not qualify as an Enhanced Direct Deposit. It doesn't mention if a external bank transfer to Citi is counted as a...
by beyou
Thu Mar 21, 2024 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: CitiBank "Simplified Banking" ... not too simplified!
Replies: 27
Views: 2192

Re: CitiBank "Simplified Banking" ... not too simplified!

I voluntarily moved early to this new packaging.
To me is was simpler than what I had before.

Before I had to do 2 electronic bill payments and 1 electronic deposit each month to avoid the checking monthly fee.

Now I only have to do the 1 monthly electronic deposit (subject to min $250). No bill pay required.

How is that not simpler ?

Yes if you keep $30k then no requirement above at all, for free checking.

Old and new both worked for me.
And now that they have no commission ETF trading, I can park an etf there for $30k and have no activity requirements at all, as well as get more banking fees waived.

Seems fine to me.
by beyou
Thu Mar 21, 2024 9:17 am
Forum: Personal Investments
Topic: Treasury Direct - The Eternal Wait and No Way To Track Transfer
Replies: 82
Views: 14108

Re: Treasury Direct - The Eternal Wait and No Way To Track Transfer

4everTenn wrote: Tue Feb 27, 2024 10:55 am The last call I made the person was somewhat rude. When I questioned him about the time frame he just kept repeating himself like he was reading from a script saying "I said it can be six months or longer". So, I asked him if by longer he meant it could take up to two years and he said 'could be' and then he hung up..
Have others experienced this long delay after death of an owner ?
Did anyone have success with holding in an RLT and actually expediting the process ?
by beyou
Thu Mar 21, 2024 9:03 am
Forum: Personal Investments
Topic: Treasury Direct - The Eternal Wait and No Way To Track Transfer
Replies: 82
Views: 14108

Re: Treasury Direct - The Eternal Wait and No Way To Track Transfer

We set up an RLT in May and submitted the transfer requests from our individual TD accounts (after talking to TD on the phone and learning that a simple notarization was sufficient, contrary to what the form says about needing a Medallion Guarantee). In December, it finally happened. As others have observed, it just happened. We did get an email confirming the transfers had taken place. I am only using TD for short term T Bills that pay directly to Ally HYSA’s upon maturity. I have never heard of issues with payments being made, so hopefully if something happens to me, or us, the funds will show up in the savings accounts. (At least our experience with passing of our parents is that Ally didn’t know they passed until we told them, many mon...
by beyou
Thu Mar 21, 2024 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Largest banks with worst rates....?
Replies: 33
Views: 1809

Re: Largest banks with worst rates....?

I do not this this rate differential is meaningful. I have maintained accounts at 2 banks for many years. One major bank (Citi) and one online online bank. The online only bank does have higher rates, that that is irrelevant to me. Even the banks with the highest rates are not as good as Vanguard money market funds. And banks with the most competitive rates barely can match savings bonds, especially when you consider the interest is state tax free and federal deferred income. I keep the most minimal possible balances at my banks, regardless of any rates they offer. I fund those banks to pay bills, from my Vanguard and Treasury Direct accounts, to be spent immediately. So why do I care what rates the banks pay ? I decided recently I wanted t...
by beyou
Wed Mar 20, 2024 11:52 am
Forum: Personal Investments
Topic: MBR [Mega backdoor Roth] vs Pay Raise
Replies: 51
Views: 2415

Re: MBR vs Pay Raise

Yes but people who have substantial taxable spend that first in retirement, Roth last. If you have little in taxable and may spend down roth, you’ll never realize much benefit from the “space”. Maybe give your current and projected taxable, Roth, other acct balances and expected retirement expenses, and you can get a more accurate answer to your question. Ohh, I see now. Thank you for explaining. Current: Taxable account is $35k Traditional account: $0 Roth accounts combined are $355k Here are my rough projections (20 years out from retirement), in real dollars: If stay at current position for 5 more years, then return to the US for 15 years more work: Taxable: $0 excluding emergency fund Traditional: $500k Roth Accounts: $1.5 million If I...
by beyou
Wed Mar 20, 2024 6:57 am
Forum: Personal Investments
Topic: MBR [Mega backdoor Roth] vs Pay Raise
Replies: 51
Views: 2415

Re: MBR vs Pay Raise

Go for the higher pay and forget the MBR/401k 1) You aren’t getting any short term benefit from any retirement plans given your situation. 2) You are concerned you wont have enough to retire so, you may work longer, further extending your overseas tax-free situation 3) Given concern of nit having enough to retire, maxing Roth should not be your priority. If you get no short term benefit from the Roth, and end up spending it down, you wont get much long term benefit either. 4) You can benefit just as much from larger taxable accounts potentially in your situation, and the best way to maximize taxable is to max out your salary. Given your comments that the job is exactly same except salary/401k, and that stability & tasks are same, go fo...
by beyou
Wed Mar 20, 2024 6:01 am
Forum: Personal Investments
Topic: MBR [Mega backdoor Roth] vs Pay Raise
Replies: 51
Views: 2415

Re: MBR vs Pay Raise

Go for the higher pay and forget the MBR/401k 1) You aren’t getting any short term benefit from any retirement plans given your situation. 2) You are concerned you wont have enough to retire so, you may work longer, further extending your overseas tax-free situation 3) Given concern of nit having enough to retire, maxing Roth should not be your priority. If you get no short term benefit from the Roth, and end up spending it down, you wont get much long term benefit either. 4) You can benefit just as much from larger taxable accounts potentially in your situation, and the best way to maximize taxable is to max out your salary. Given your comments that the job is exactly same except salary/401k, and that stability & tasks are same, go for...
by beyou
Tue Mar 19, 2024 10:54 pm
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 210
Views: 23859

Re: Anybody heard stories of well "prepared" retirees running out of money?

My parents-in-law are on-track to run out of money. They are relatively young, around 70. FIL is a former executive from the tech industry and has a massive ego. He retired in his 40's with a 7-figure NW and has spent the last 25 years living a luxury jet-setting lifestyle. He thinks an amazing investor and spends hours per day trading individual stocks, reading stock newsletters, etc. Their family next egg is down to the $700k range, mostly in individual tech stocks, and they are withdrawing around $80k/year to sustain their lifestyle. They have some small amount of SS, but not much due to working a long time outside the US. My MIL is worried sick and has physical ailments that come from the stress of worrying about running out of money, ...
by beyou
Tue Mar 19, 2024 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: American Express Marriott Bonvoy Brilliant card - Is it worth it?
Replies: 16
Views: 2399

Re: American Express Marriott Bonvoy Brilliant card - Is it worth it?

scwed wrote: Tue Mar 19, 2024 7:09 pm Some say it's worthwhile to get the Marriott Platinum lifetime status & perks w/ it eventually. However we already have the Chase Reserve. Would love to hear your input, especially if you have both cards.

Thanks in advance!
I find Marriott and Amex to be 2 of my favorite vendors both with good service.
That said, I wont spend $650 annual fee on any credit card.
I wont even do the math, I hate prepaying for almost any benefits.
by beyou
Tue Mar 19, 2024 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: VG Authorized Agents – How do they access and control accounts?
Replies: 12
Views: 1173

Re: VG Authorized Agents – How do they access and control accounts?

Note I too use this feature to manage for others.

There is one gap we found. We tried to give access to a revocable trust acct and this could not be done online. There was some form that needs notarization and snail mail. Decided not to pursue at the moment as it was a minor convenience to access a fairly inactive acct.

Has anyone else gone ahead with this for a revocable trust, and if so, did you end up with easy access via another Vanguard login ?
by beyou
Tue Mar 19, 2024 12:35 pm
Forum: Investing - Theory, News & General
Topic: Access to Morningstar's X-ray?
Replies: 16
Views: 1638

Re: Access to Morningstar's X-ray?

:sharebeer OP, I've always used my free T Rowe Price online account to access the basic x-ray tool. You don't need to have assets held there to get a free account. However I've not accessed the tool since 2022. Give it a try. My free T Rowe Price account is no longer working. I remember not being able to access X-ray a few years ago, but it came back after several months. This time I am locked out for over a year. It was a useful tool, but I don't find it THAT useful that I'd actually pay for it. Maybe I could try a new TR Price account? Etrade also used to have basic xray functionality from m*, but dropped it. I think m* just became overpriced to the point nobody is willing to pay for it, brokers, libraries nor individuals. i would use it ...
by beyou
Tue Mar 19, 2024 12:32 pm
Forum: Investing - Theory, News & General
Topic: Access to Morningstar's X-ray?
Replies: 16
Views: 1638

Re: Access to Morningstar's X-ray?

cat_guy wrote: Tue Mar 19, 2024 2:01 am Some libraries give access to morningstar for free. Go to your library's website and search for it. Here's an example: https://chpl.org/resources/business-finance/
My library has free M* access but NOT xray not many features of M*. Just some textual news and research, which is mildly useful but not full access.
by beyou
Tue Mar 19, 2024 8:40 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3037

Re: Genius of the Financial Industry

1. Where can I invest anywhere from $10k to $10 million and be immediately diversified across every public company in the U.S. for less than 10-bps. What's 10-bps fee of $10 million? Sounds like a big effin bargain. The OP is talking about ripoff AUM management, not the glories of investing in VTSAX. not how the post is worded. "I’d like to take a moment to tip my hat to the financial industry. Ask yourself this: if you want to get rich in a short time without working extremely hard, what line of work would you choose?" The AUM fees were how it started, but then generalized into the entire financial industry. This is like a rant pointing out how a particular government service went wrong, and therefore all government is bad. I se...
by beyou
Tue Mar 19, 2024 8:05 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3037

Re: Genius of the Financial Industry

I'm not in the industry, but seems obvious to me that the role technology plays has changed the financial metrics enormously. I would assume that "the actual work done" has gone down a lot with technology replacing actual work. And will continue to change it with AI coming in. Not sure if it allows for the low cost in index funds or how else it translates, but even a financial planner is using software in a way that 20-30 years ago would require a lot more manual work. All this means is that the industry needs to employ more tech staff than other roles. And if they do not hire competent, hard working tech staff, your acct website will be down, your statement will he wrong or late, the traders will have no information to make trad...
by beyou
Tue Mar 19, 2024 7:26 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3037

Re: Genius of the Financial Industry

I imagine almost all bogleheads interact with the “financial industry” in some way while paying no AUM fee to any advisor. We are all happy the financial industry exists otherwise we would have to manage huge portfolios of hundreds of stocks manually, with some kind of record keeping system computing our 1099s for us. Doesn’t sound fun. I’m happy the industry exists and provides me with index funds for extremely low cost. Actually you could not even maintain your own portfolio of stocks. On what exchange would you trade your stocks and avoid those greedy financial industry people ? And how would those companies go public without those greedy financial industry people. The OP rant is about as useful as “government is bad because they make l...
by beyou
Tue Mar 19, 2024 7:19 am
Forum: Personal Investments
Topic: Fees for selling Mutual Funds?
Replies: 18
Views: 1610

Re: Fees for selling Mutual Funds?

:twisted: If the OP does not know after the responses above, back end loads (and front end loads) are fees determined by the fund managers, such as BlackRock and others you were sold, this is NOT a fee determined by Vanguard nor any broker where you may sell them. The fund manager may share some of the fees with the broker, usually the front end fees you paid already when purchased, as an incentive to get brokers to push their funds. The split is negotiated between fund and your broker. It is the no load funds where there may be fees determined by your broker, and could vary based on where you hold, at which broker. So some of your funds have back end loads, they will have the fund mandated fee. In fact here is a relevant comment from Vangu...
by beyou
Tue Mar 19, 2024 7:05 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3037

Re: Genius of the Financial Industry

I worked in the industry for 4 decades. People do work very hard from my experience. Even low cost index funds are very complex to run. I would suggest a little bit of research. Well-compensated industries are quick to justify themselves by claiming hard work as though it’s unique to them. Some of these claims are self-serving nonsense. Does anyone in the financial industry want to trade places with a coal miner or a soldier deployed in a war zone? As for complexity, how much of it is “make work” window dressing, designed more to look impressive to outsiders rather than be truly useful? And how much of this complexity is tied to compliance: paperwork generated to meet regulations imposed on an industry not noted for honestly regulating its...
by beyou
Tue Mar 19, 2024 6:55 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3037

Re: Genius of the Financial Industry

TomatoTomahto wrote: Tue Mar 19, 2024 6:18 am
beyou wrote: Tue Mar 19, 2024 1:05 am I worked in the industry for 4 decades.
People do work very hard from my experience.
And the drive to lower fees has caused competent people to leave the industry, leading to many of the complaints posted daily on bogleheads.
+1

Although it has to be said that probably 10% of the people do 90% of the useful work.
I had estimated 20% do 80% of the work, and that rule is not limited to the financial industry.
by beyou
Tue Mar 19, 2024 1:05 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3037

Re: Genius of the Financial Industry

I worked in the industry for 4 decades.
People do work very hard from my experience.
And the drive to lower fees has caused competent people to leave the industry, leading to many of the complaints posted daily on bogleheads.
by beyou
Tue Mar 19, 2024 12:29 am
Forum: Personal Consumer Issues
Topic: Help me with my car dilemma . . .
Replies: 36
Views: 2799

Re: Help me with my car dilemma . . .

Depends on where you live, how much snow/ice/road salt, vs other conditions, but the body wont last forever. Good point. Heat, sun, and dry air degrade rubber and plastic components where I live. Still, my last Volvo (mid 90s) lasted 20+ years. I would not bet that a 2015 model would last as long as mid 90s. Mid 90s was the golden age of reliability. Manufacturing advances were significant but electronic were still in infancy. Today much of the electronics can fail. Also I think the desire to make a car last that long is gone from the manufacturer's standpoint. Cutting corners on cheaper material seems to be a 21st century business model (as it was in the 1970s-1980s). The 90s were a golden period, but don't bet based on your experience wi...
by beyou
Mon Mar 18, 2024 11:29 pm
Forum: Personal Consumer Issues
Topic: Help me with my car dilemma . . .
Replies: 36
Views: 2799

Re: Help me with my car dilemma . . .

My experience is that on the best built engines (like my old Toyotas from the 90s) that the body of the car will go no matter how well you care for the engine. Depends on where you live, how much snow/ice/road salt, vs other conditions, but the body wont last forever. You will get more out of the car with a new engine, but maybe not the full 10 years you expect. I wouldn't do it.