Search found 108 matches

by dan23
Sun Sep 20, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to maximize savings at BOA
Replies: 18
Views: 1599

Re: How to maximize savings at BOA

Another cool thing is you can also (or at least I was able to) get at least two 5.25 cashback credit cards. I would go over the quarterly limits at times for online shopping if I just used one. I did one regular and one MLB one. Second one got a phone call to approve if I remember right, but wasn't ...
by dan23
Mon Aug 24, 2020 7:21 pm
Forum: Personal Consumer Issues
Topic: Anyone study math, physics or science for fun?
Replies: 54
Views: 4175

Re: Anyone study math, physics or science for fun?

Don't know what level you want to learn it at. If at the level of a college major for Physics, this person did it and their post might give ideas: https://www.susanjfowler.com/blog/2016/8/13/so-you-want-to-learn-physics. Bottom line though, for both math and physics, you really have to do problems o...
by dan23
Fri Jun 19, 2020 4:17 pm
Forum: Investing - Theory, News & General
Topic: Are all Structured Notes Bad?
Replies: 30
Views: 1780

Re: Are all Structured Notes Bad?

I don't have an answer to your question, but I do have an added negative to keep in mind if the account is taxable:
    My (non-expert) understanding is if there is principal protection, tax rate becomes ordinary income tax rate instead of LTCG rate.
    by dan23
    Fri May 08, 2020 9:21 am
    Forum: Personal Consumer Issues
    Topic: iPad.. worth it?
    Replies: 49
    Views: 3341

    Re: iPad.. worth it?

    I just got an iPad for the first time for facetime usage. I am a long time Android phone and tablet user (mostly Samsung) and Samsung s5e is my current tablet. There are both learning curve frustrations and things you can do on Android that you can't do on iPad (I imagine it would be the case in the...
    by dan23
    Wed Apr 29, 2020 6:51 pm
    Forum: Personal Finance (Not Investing)
    Topic: [One stop shop with BoA / Merrill Edge]
    Replies: 34
    Views: 2178

    Re: [One stop shop with BoA / Merrill Edge]

    The credit card website is bad though. Could you elaborate on this? Don't know what the poster intended but they make it tricky to correctly sign up for full automatic payment for credit card bills. You can do it pretty easily if you follow instructions from somewhere and since you only need to set...
    by dan23
    Tue Apr 28, 2020 6:23 pm
    Forum: Personal Finance (Not Investing)
    Topic: [One stop shop with BoA / Merrill Edge]
    Replies: 34
    Views: 2178

    Re: Fidelity as a one stop shop

    I assume no issues with Merrill Edge buying Vanguard ETFs like VTI, VXUS, BND for $0 just like the other places? Thanks! No issues with $0 vanguard ETF buys. If you want to buy ETNs or active ETFs there are/were potential issues - I believe I and others have posted about this on BH and won't go int...
    by dan23
    Tue Apr 28, 2020 2:52 pm
    Forum: Personal Finance (Not Investing)
    Topic: [One stop shop with BoA / Merrill Edge]
    Replies: 34
    Views: 2178

    Re: Fidelity as a one stop shop

    Hello, I'm sure everyone's circumstances vary, and I've read through most of this long thread, but I was curious if anyone has tried to "one stop shop" with BoA/Merrill Edge? I've no special affinity for BoA vs Fidelity vs Schwab (currently bank with CapitalOne and E*Trade as a brokerage, although ...
    by dan23
    Fri Apr 10, 2020 12:17 pm
    Forum: Personal Finance (Not Investing)
    Topic: CARES Payroll Protection Program From Employee Standpoint
    Replies: 35
    Views: 2055

    Re: CARES Payroll Protection Program From Employee Standpoint

    When this loan is granted, can I expect to get my whole salary again? Or can he continue just to pay me at the reduced hours rate (-60%)? My yearly salary is under 100K and I do not take company health benefits. I believe he can give you a paycut of up to 25% vs. the most recent full quarter withou...
    by dan23
    Wed Apr 01, 2020 5:30 pm
    Forum: Investing - Theory, News & General
    Topic: Question on Paycheck Protection Program "payment of any retirement benefit" definition
    Replies: 7
    Views: 633

    Question on Paycheck Protection Program "payment of any retirement benefit" definition

    The Paycheck Protection Program of the CARES Act allows small businesses to borrow 2.5 times prior 12 months average monthly payroll and then effectively allows 8 weeks post origination of other defined expenses including payroll to be forgiven. The definition of payroll includes "payment of any ret...
    by dan23
    Fri Jan 31, 2020 2:50 pm
    Forum: Investing - Theory, News & General
    Topic: VT Total World Stock ETF and the Foreign Tax Credit Pinch Out
    Replies: 48
    Views: 8637

    Vanguard Total World (VT) and Foreign Taxes Paid Question

    [Thread merged into here, see below. --admin LadyGeek] I recently received my 1099Div from Merrill. The bulk of the account is VT which I have had for years. Foreign Taxes Paid (Line 7) shows as 0 this year. Could that be accurate? If so, what would have changed about VT that it would have no forei...
    by dan23
    Fri Jul 26, 2019 3:46 pm
    Forum: Personal Finance (Not Investing)
    Topic: Equifax settlement: how to file claim?
    Replies: 156
    Views: 15778

    Re: Equifax settlement: how to file claim?

    I thought the fact that the link was such a non-offical url website pretty crazy. It is legit, but found that out through going through the FTC page which actually takes you there: https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement. Articles should link to the F...
    by dan23
    Wed Mar 20, 2019 9:37 pm
    Forum: Personal Finance (Not Investing)
    Topic: BofA is improving their autopay
    Replies: 15
    Views: 1795

    Re: BofA is improving their autopay

    I have been autopaying statement balance for years. It is doable just not obvious how to set up. I think there are even 2 ways to do in online. See this post: https://thefinancebuff.com/autopay-bank-america-credit-card.html +1. Been doing this for at least a year. Autopays balance in full. Works pe...
    by dan23
    Wed Mar 20, 2019 8:34 pm
    Forum: Personal Finance (Not Investing)
    Topic: BofA is improving their autopay
    Replies: 15
    Views: 1795

    Re: BofA is improving their autopay

    I have been autopaying statement balance for years. It is doable just not obvious how to set up. I think there are even 2 ways to do in online. See this post: https://thefinancebuff.com/autopay-bank ... -card.html
    by dan23
    Fri Feb 22, 2019 1:10 pm
    Forum: Personal Finance (Not Investing)
    Topic: CIT Bank reliable? They have a 2.45% Savings Account
    Replies: 19
    Views: 1964

    Re: CIT Bank reliable? They have a 2.45% Savings Account

    Had a CIT account for many years which I closed last year. Pretty barebones, but they seem to take security seriously and have regularly had a top rate over the period. What annoyed me about them, is as interest rates increased (I think this was last year), they created a new savings account product...
    by dan23
    Tue Jan 29, 2019 11:54 pm
    Forum: Personal Finance (Not Investing)
    Topic: Foreign tax credit question in TurboTax
    Replies: 9
    Views: 1123

    Re: Foreign tax credit question in TurboTax

    Does anyone know what the percentage that is foreign source income for VT. I own it through a non Vanguard broker and I don't have it anywhere. Vanguard's webpage has the worksheet for 2017 but not 2018.
    by dan23
    Sat Nov 10, 2018 11:52 am
    Forum: Personal Finance (Not Investing)
    Topic: Finances in NYC
    Replies: 127
    Views: 14555

    Re: Finances in NYC

    It is definitely possible to find a (very) small studio in a non-doorman building in that price range (e.g., portions of UES). If you are not already aware of it, streeteasy is a good site for apartment hunting. Your big expense in NYC is housing. Outside of that, other things can be relatively chea...
    by dan23
    Wed Aug 29, 2018 6:32 pm
    Forum: Personal Finance (Not Investing)
    Topic: How do you 7 figure guys organize multiple accounts?
    Replies: 164
    Views: 13791

    Re: How do you 7 figure guys organize multiple accounts?

    Our point of view is that viewing your banking and brokerage accounts via Personal Capital is *safer* than going directly to the banking/brokerage site from your browser. 1. Your credentials are stored in a secure data center versus always being transmitted via the user's (generally less-secure) br...
    by dan23
    Tue Aug 28, 2018 4:39 pm
    Forum: Personal Finance (Not Investing)
    Topic: How do you 7 figure guys organize multiple accounts?
    Replies: 164
    Views: 13791

    Re: How do you 7 figure guys organize multiple accounts?

    I've focused on reducing the number of institutions I have accounts with. Now, for stock and bank accounts, I am down to Fidelity +BoA/Merrill. That is it. I think it is worth it having money at 2 institutions, so if one institution is out, you have another as backup. I only carry and use the BOA 2....
    by dan23
    Tue Aug 28, 2018 12:18 pm
    Forum: Non-US Investing
    Topic: Retiring. 28 y.o. $5M in cash. Asking for advice for portfolio.
    Replies: 79
    Views: 14602

    Re: Retiring. 28 y.o. $5M in cash. Asking for advice for portfolio.

    Use MOC orders https://www.interactivebrokers.com/en/index.php?f=599 With IB you should just do VWAP orders, which they offer. @hdas and @dan23, could you please elaborate on why MOC or VWAP would be better than the widely recommended LMT order at the current ask price? Surely, I would chop up the ...
    by dan23
    Mon Aug 27, 2018 6:03 pm
    Forum: Non-US Investing
    Topic: Retiring. 28 y.o. $5M in cash. Asking for advice for portfolio.
    Replies: 79
    Views: 14602

    Re: Retiring. 28 y.o. $5M in cash. Asking for advice for portfolio.

    With IB you should just do VWAP orders, which they offer.
    by dan23
    Sat Apr 21, 2018 12:32 pm
    Forum: Investing - Theory, News & General
    Topic: PSA: Vanguard multi-factor ETF blocked at Merrill Edge
    Replies: 7
    Views: 3657

    Re: PSA: Vanguard multi-factor ETF blocked at Merrill Edge

    They frame it as compliance, but I believe the motivation is anti competitive and an approach that is leftover from when they did not have a self directed broker. I believe practically all active non-bond ETFs and most ETNs are blocked. They let you over rule protecting you from penny stocks at 50K....
    by dan23
    Tue Aug 01, 2017 4:59 pm
    Forum: Investing - Theory, News & General
    Topic: "the top 1 percent of families had $1.08 million or more saved in 2013."
    Replies: 26
    Views: 5132

    Re: "the top 1 percent of families had $1.08 million or more saved in 2013."

    Misleading and likely looking just at retirement accounts and ignoring taxable savings. Full numbers with breakdowns are in Federal Reserve Survey of Consumer Finances. Net worth cutoff for top 1% is 7.8M. See percentiles here: https://dqydj.com/net-worth-in-the-united-states-zooming-in-on-the-top-c...
    by dan23
    Tue May 30, 2017 6:38 pm
    Forum: Personal Consumer Issues
    Topic: Using LastPass to Manage Passwords
    Replies: 40
    Views: 6465

    Re: Using LastPass to Manage Passwords

    I've been a LP user for many yerars. I dont normally buy software. They are one of the few programs that I shell out $12 a year for. The convenience of being able to login via my cell and desktop without having to remember my pw is worth the $12. Thank you for all the replies so far. Do you think t...
    by dan23
    Wed May 10, 2017 7:29 pm
    Forum: Personal Finance (Not Investing)
    Topic: Bank of America Preferred Rewards vs. Wealth Management
    Replies: 41
    Views: 23000

    Re: Bank of America Preferred Rewards vs. Wealth Management

    For me, the two free wires a month (and international ATM) would outweigh the free trades. I would have just a small portion of our portfolio there in index ETFs, and we anticipate being out of the country for large chunks of time in at least the first decade of retirement.... FYI suspect you may g...
    by dan23
    Tue May 09, 2017 7:32 pm
    Forum: Personal Finance (Not Investing)
    Topic: Bank of America Preferred Rewards vs. Wealth Management
    Replies: 41
    Views: 23000

    Re: Bank of America Preferred Rewards vs. Wealth Management

    That is nice to know--I had no particular interest in warehousing more ETFs at M.Edge given that we had "reached the top" of the rewards.... Wonder why they don't have this in the preferred rewards table, or at least footnote it? I've been debating which brokerage firm to open an account with to ge...
    by dan23
    Tue May 09, 2017 5:27 pm
    Forum: Personal Finance (Not Investing)
    Topic: Bank of America Preferred Rewards vs. Wealth Management
    Replies: 41
    Views: 23000

    Re: Bank of America Preferred Rewards vs. Wealth Management

    See the 3rd from the bottom post on this page: https://www.fatwallet.com/forums/finance/1335073?start=530 It indicates there is Merrill Edge Premium at 250K and you stay in preferred rewards. By phone they told me this happens automatically at 3 month average balance 250K+ and that I should receive ...
    by dan23
    Tue Jan 31, 2017 1:22 pm
    Forum: Investing - Theory, News & General
    Topic: Betterment just raised their costs.
    Replies: 191
    Views: 27295

    Re: Betterment just raised their costs.

    Looks like:
    <10K - less fees
    10K-100K - same fees
    100K-3.33M more fees
    3.33M+ - less fees

    Looks like a moneygrab to me.
    by dan23
    Thu Dec 29, 2016 7:44 pm
    Forum: Investing - Theory, News & General
    Topic: How A 28-Year-Old Who Retired With A $2 Million Net Worth Is Investing In 2017
    Replies: 42
    Views: 6795

    Re: How A 28-Year-Old Who Retired With A $2 Million Net Worth Is Investing In 2017

    I read a previous story about this person and perused her blog. Something seems a bit off with her story. Usually the people who are happy to have articles in major publications want to drive traffic to their blogs in order to make (more) money off their blog. It sounds like she was in a field like ...
    by dan23
    Wed Dec 21, 2016 8:40 am
    Forum: Personal Investments
    Topic: TSP to Vanguard?
    Replies: 128
    Views: 26278

    Re: TSP to Vanguard?

    I'd be cautious about moving the money. TSP withdrawals are exempt from state tax in certain states (including NY). If you move TSP to Vanguard you lose that. My understanding is if a state does not tax its own pensions, it can't tax federal pensions or TSP (at least for FERS). This doc can help tho...
    by dan23
    Sat Jun 25, 2016 12:09 pm
    Forum: Personal Consumer Issues
    Topic: MEI Voyageur backpack
    Replies: 19
    Views: 4709

    Re: MEI Voyageur backpack

    I'm a Tom Bihn user, but based on what you said in response to the last Tom Bihn rec, the Minaal bag looks quite interesting and and I believe it has compression straps and now a padded hip belt available as well.
    by dan23
    Wed May 11, 2016 5:05 pm
    Forum: Investing - Theory, News & General
    Topic: NY Times article on the "tip of the iceberg" that is Puerto Rico
    Replies: 76
    Views: 15664

    Re: NY Times article on the "tip of the iceberg" that is Puerto Rico

    Agree with the idea that this is a problem, though they bring up New York for the scary dollar amount when New York is one of the most healthy pensions. Illinois and NJ, on the other hand look pretty scary. See the chart at the bottom of this piece for all states funded ratio (data is 2013) and whet...
    by dan23
    Thu Apr 21, 2016 9:36 pm
    Forum: Personal Finance (Not Investing)
    Topic: Step down in basis (at death)?
    Replies: 15
    Views: 7219

    Re: Step down in basis (at death)?

    I know there are some situations where you can elect to use the FMV 6 months after death instead (which could potentially result in higher basis) - don't know the details of where this applies.
    by dan23
    Fri Apr 08, 2016 10:14 pm
    Forum: Personal Finance (Not Investing)
    Topic: NYS 49.02%/88.42% tax bracket
    Replies: 6
    Views: 1368

    Re: NYS 49.02%/88.42% tax bracket

    That table makes a lot more sense as the structure. Can't find that document for 2016, so looked at the doc with the withholding (and it assumed it would be the same). I thought we had some weird increase in brackets in 2016 by incorrectly assuming withholding rates were the same as tax brackets, ev...
    by dan23
    Fri Apr 08, 2016 7:17 pm
    Forum: Personal Finance (Not Investing)
    Topic: NYS 49.02%/88.42% tax bracket
    Replies: 6
    Views: 1368

    NYS 49.02%/88.42% tax bracket

    Can anyone explain the 49.02% tax rate that kicks in at 1,070,350 for single in the tax tables and 88.42% tax rate that kicks in for married at 2,140,900. It then goes down to 9.62% in the next bracket. See link below. I could not find anything on this while googling, which is somewhat surprising as...
    by dan23
    Fri Mar 11, 2016 7:41 pm
    Forum: Investing - Theory, News & General
    Topic: podcast: Bogle on Bloomberg 'Masters in Business'
    Replies: 29
    Views: 4163

    Re: podcast: Bogle on Bloomberg 'Masters in Business'

    For those who don't already listen, it is an excellent podcast in general.
    by dan23
    Wed Mar 09, 2016 9:39 pm
    Forum: Personal Finance (Not Investing)
    Topic: Merrill Edge - Good for trading?
    Replies: 34
    Views: 4644

    Re: Merrill Edge - Good for trading?

    Their free trades and CC are great but they block ETNs and non bond active ETFs.
    by dan23
    Fri Jan 01, 2016 7:53 pm
    Forum: Personal Finance (Not Investing)
    Topic: Fidelity clients: Fastest way to get dividend to checking?
    Replies: 13
    Views: 2338

    Re: Fidelity clients: Fastest way to get dividend to checking?

    I believe wires at Fidelity are free at 250K balance, which would be faster. Also, probably not faster than wiring (though it might be), but if you want dividends to bank account to happen automatically, see here: https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/earnings-automatic-...
    by dan23
    Mon Oct 05, 2015 6:58 pm
    Forum: Personal Consumer Issues
    Topic: Which android phone to buy?
    Replies: 52
    Views: 8228

    Re: Which android phone to buy?

    ZTE Axon Elite, any Z5, vibe x3 I think meet your specs.

    This search and then manually check the processor by clicking on them
    http://www.phonearena.com/phones/full/p ... 25][]=2051
    by dan23
    Mon Oct 05, 2015 6:50 pm
    Forum: Personal Consumer Issues
    Topic: Which android phone to buy?
    Replies: 52
    Views: 8228

    Re: Which android phone to buy?

    I think S6 comes with 128GB option which may mitigate lack of expandable storage (as does 6P though it is a bigger device with slower storage tech). Processor is superior and top notch fingerprint scanner present with Samsung Pay as well.
    by dan23
    Sun Aug 02, 2015 12:27 pm
    Forum: Personal Finance (Not Investing)
    Topic: Is Being a Private Banking Client Worth it?
    Replies: 97
    Views: 47187

    Re: Is Being a Private Banking Client Worth it?

    I perused Citis private baking client offering pre-crisis, when interest rates were high, and I did not see them offering anything that I cared about that you could not get elsewhere (though not elsewhere at a Bank with physical locations). Basically, I remember noticing that they had free wires (do...
    by dan23
    Sat Aug 01, 2015 10:41 am
    Forum: Personal Finance (Not Investing)
    Topic: real estate in NYC
    Replies: 38
    Views: 4274

    Re: real estate in NYC

    An idea, don't know enough about school to know if this will work, though don't see why it wouldn't- If you live fairly close to a good school zone, keep your current apartment, rent the cheapest junk studio/basement/whatever where you can get your own utility bills that you can find in that school ...
    by dan23
    Fri Jul 10, 2015 10:42 pm
    Forum: Investing - Theory, News & General
    Topic: look at structured notes
    Replies: 16
    Views: 2235

    Re: look at structured notes

    My understanding is that structured notes with principal protection (even if only partial) are taxed at the ordinary income rate as well (which often means converting what could be long term gains if structured differently to short term gains when in structured note form). I remember reading somewhe...
    by dan23
    Sun Jul 05, 2015 1:21 pm
    Forum: Personal Consumer Issues
    Topic: Bernstein - ["Against the Gods" versus] Nassim Taleb
    Replies: 7
    Views: 3079

    Re: Bernstein - ["Against the Gods" versus] Nassim Taleb

    I've read all the books mentioned, but too long ago to answer your questions well (I read each around when they came out). I remember very much liking both Against the Gods and Fooled by Randomness when I read them and I think they are compatible/complimentary and in the same broad domain. I think t...
    by dan23
    Mon Jun 29, 2015 9:05 pm
    Forum: Personal Consumer Issues
    Topic: The Amalfi Coast: Next April
    Replies: 21
    Views: 4235

    Re: The Amalfi Coast: Next April

    Nice hike/walk near Positano. I recommend it:
    http://www.tripadvisor.com/Attraction_R ... pania.html
    I did it from Bomerano to Positano
    by dan23
    Thu Jun 25, 2015 10:39 pm
    Forum: Investing - Theory, News & General
    Topic: Merrill Edge anyone?
    Replies: 98
    Views: 38689

    Re: Merrill Edge anyone?

    Also, on liquidity they do have such restrictions related to penny stocks, but you can bypass them with 50K in your account. For ETFs they require 10 million to bypass. Not liquidity. Especially given the enormous inconsistencies in what they do and don't block when it comes to liquidity of ETFs. I ...
    by dan23
    Thu Jun 25, 2015 10:33 pm
    Forum: Investing - Theory, News & General
    Topic: Merrill Edge anyone?
    Replies: 98
    Views: 38689

    Re: Merrill Edge anyone?

    You think Vanguard is giving the Edge a kickback when people buy its ETFs there? I have no idea. I think for either some or all ETFs (perhaps they exempt the overwhelmingly popular ones or issuers) Merrill charges a fee to run the ETF through compliance. I am not 100% on this but I have heard somet...
    by dan23
    Thu Jun 25, 2015 10:28 pm
    Forum: Investing - Theory, News & General
    Topic: Merrill Edge anyone?
    Replies: 98
    Views: 38689

    Re: Merrill Edge anyone?

    Merrill Edge does not get kickbacks from any ETF providers. Schwab does with their ETF one source as does Fidelity with their iShares program. Both of these brokers do not restrict which ETFs can be traded. My understanding is that Merrill Edge has restrictions on trading illiquid securities. I thi...
    by dan23
    Thu Jun 25, 2015 10:19 pm
    Forum: Investing - Theory, News & General
    Topic: Merrill Edge anyone?
    Replies: 98
    Views: 38689

    Re: Merrill Edge anyone?

    They don't let you buy all ETFs - as I understand it they basically get kickbacks from ETF companies and those that are not huge and don't pay for them to "run it through Compliance" can't be traded. They frame it as protecting investors from themselves, but do not allow you to accept the risk unle...
    by dan23
    Thu Jun 25, 2015 6:26 pm
    Forum: Investing - Theory, News & General
    Topic: Merrill Edge anyone?
    Replies: 98
    Views: 38689

    Re: Merrill Edge anyone?

    Anyone currently using Merrill Edge with their Platinum Privileges service. If you maintain a $50k account balance you get 30 free trades monthly and no annual fee. Just wondering what the catch is? I know they have a pretty bad reputation for customer service and shady business in the past. No cat...