Search found 86 matches

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: 4111

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: 38
Views: 4017

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: 26
Views: 6487

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: 26
Views: 6487

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 ...
by dan23
Tue May 09, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America Preferred Rewards vs. Wealth Management
Replies: 26
Views: 6487

Re: Bank of America Preferred Rewards vs. Wealth Management

See the 3rd from the bottom post on this page: m 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 an e-mail. 250K: Merrill Edge Premium: Presumably you qua...
by dan23
Tue Jan 31, 2017 1:22 pm
Forum: Investing - Theory, News & General
Topic: Betterment just raised their costs.
Replies: 191
Views: 20387

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: 6136

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: Investing - Help with Personal Investments
Topic: TSP to Vanguard?
Replies: 125
Views: 14659

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: 2595

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: 13798

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: 2780

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: 1214

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: 1214

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: 3637

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: 3695

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: 1278

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 ... nonret.pdf
by dan23
Mon Oct 05, 2015 6:58 pm
Forum: Personal Consumer Issues
Topic: Which android phone to buy?
Replies: 52
Views: 6965

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/page/2/?f[93][]=517&f[325][]=1518&f[325][]=2051#/phones/full/?f[93][]=517&f[93][]=946&f[93][]=1818&f[325][]=1518&f[325][]=2051
by dan23
Mon Oct 05, 2015 6:50 pm
Forum: Personal Consumer Issues
Topic: Which android phone to buy?
Replies: 52
Views: 6965

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: 29378

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: 3834

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: 1808

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: 2040

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: 3046

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: 27664

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: 27664

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: 27664

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: 27664

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...
by dan23
Thu Jun 25, 2015 6:26 pm
Forum: Investing - Theory, News & General
Topic: Merrill Edge anyone?
Replies: 98
Views: 27664

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...
by dan23
Sun May 31, 2015 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Best credit card for me???
Replies: 23
Views: 45292

Re: Best credit card for me???

I have the legacy priceline visa, which I think is what you have. I think most people here don't know what its specs are, since the newer priceline does not have them. It is: -visa -2% cash back against any spending -2.2% back against travel -free fico -no foreign transaction fees -no annual fees Th...
by dan23
Sun Mar 29, 2015 9:54 am
Forum: Investing - Theory, News & General
Topic: Direct-Indexing?
Replies: 13
Views: 2273

Re: Direct-Indexing?

Some arguments against. 1) Related to midareff above- You would miss out on tax efficiency of ETFs (Vanguard funds do something related as well) m - m Direct Indexing misses this 2) I think it would be a huge pain to liquidate a directly indexed portfolio if you ever left wealthfront which creates a...
by dan23
Sun Mar 01, 2015 6:27 pm
Forum: Personal Consumer Issues
Topic: Selling multi-family - Push to Waive Inspection?
Replies: 23
Views: 2146

Re: Selling multi-family - Push to Waive Inspection?

So it's not dragged out, require an inspection within 72 hours. That way, you are not held off the market for an unreasonable amount of time. +1 vote for the 72 hour inspection clause. Declaring no inspection would be a big red flag to me. Good luck. +1 from me too. Except give a week which is a mo...
by dan23
Mon Feb 16, 2015 6:53 pm
Forum: Investing - Theory, News & General
Topic: Merryl Lynch IRA - Roll Over 401K
Replies: 13
Views: 1643

Re: Merryl Lynch IRA - Roll Over 401K

ETFs are basically mutually funds that can be traded as stocks. One thing this means as that you might end up buying them at a discount or premium to their NAV (which is the value of their holdings). For Vanguard, most funds have ETF versions that have the expense ratio of the Admiral fund. Here is ...
by dan23
Mon Feb 16, 2015 1:23 pm
Forum: Investing - Theory, News & General
Topic: Merryl Lynch IRA - Roll Over 401K
Replies: 13
Views: 1643

Re: Merryl Lynch IRA - Roll Over 401K

I have Platinum Honors. Merrill Edge web interface is pretty good and 100 free trades a month can't be beat. Their credit card is the best I have found and the only one I currently carry. Also, it is handy to have a brick and mortar bank with no monthly/annual fees + no fees on some other things you...
by dan23
Sun Feb 08, 2015 3:23 pm
Forum: Personal Consumer Issues
Topic: Choosing a Backpack and other Gear for el Camino
Replies: 100
Views: 12189

Re: Choosing a Backpack for el Camino

I've been traveling light for a while, though lighter than you plan on going and am generally a fan of going as light as possible. Don't have it, but another backpack you can look at is Osprey Farpoint 40. In the zone of carry being possible for planes (though not sure if it would be allowed on all ...
by dan23
Tue Jan 20, 2015 11:23 pm
Forum: Investing - Help with Personal Investments
Topic: backdoor roth when under AGI limit
Replies: 16
Views: 1653

Re: backdoor roth when under AGI limit

If you are able to contribute directly to a Roth IRA (not through the backdoor) contributions can be withdrawn at any time without a penalty. If you use a backdoor Roth IRA there is a penalty if you withdraw contributions prior to five years unless you are over age 59-1/2. I believe this is mislead...
by dan23
Sat Dec 20, 2014 9:50 am
Forum: Personal Consumer Issues
Topic: Gaming PC for son, buy or build?
Replies: 63
Views: 6976

Re: Gaming PC for son, buy or build?

m is the main thing you need you need. I've been building my own computers for 17 years now, but only discovered this site recently - makes it soooo much easier. Tom's hardware graphics and cpu hierarchy chart are also very useful. m m If you have a microcenter near by they are generally much cheape...
by dan23
Tue Nov 11, 2014 5:56 pm
Forum: Investing - Theory, News & General
Topic: Good books about Warren Buffett?
Replies: 18
Views: 1585

Re: Good books about Warren Buffett?

On the other hand, "Buffett: The Making of an American Capitalist" by Roger Lowenstein was a great, and informative, read. I highly recommend Lowenstein's book. Seconded. Lowenstein's bio is a great read. Otherwise, she should try reading an annual letter on Berkshires website (m). Read m...
by dan23
Sun Nov 02, 2014 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 378
Views: 70618

Re: Bank of America/Merrill Edge - Preferred Rewards

navyitaly wrote:I never claimed $1000 bonus, but I think at one time they were offering that targeted.


Sorry I might have read that on another site or post and thought I read that here. Thanks for this, I think I am going to sign up.
by dan23
Sun Nov 02, 2014 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 378
Views: 70618

Re: Bank of America/Merrill Edge - Preferred Rewards

Thanks - appears to me only redeemable to travel, but still nice. Also how do you get $1000 bonus, I only see $600.
by dan23
Sun Nov 02, 2014 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 378
Views: 70618

Re: Bank of America/Merrill Edge - Preferred Rewards

What is the cashback card you get 2.625% on?
by dan23
Sat Aug 30, 2014 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: My husband's " WILL", $ left for me to live on....
Replies: 258
Views: 23069

Re: My husband's " WILL", $ left for me to live on....

I think a lot of the posts on how the husband does not love her and she should run to a divorce attorney and/or marriage counseling are using the 7M net worth figure which does not seem close to accurate. If he had 7M cash in the bank, I would say there are serious issues - not the case. An earlier ...
by dan23
Sat Jun 21, 2014 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: FERS retirement: Final taxes and TSP
Replies: 51
Views: 6357

Re: FERS retirement: Final taxes and TSP

Not directly addressing your post, but I believe I remember you have talked about moving to NYC in retirement. FYI, if you don't already know- no NYS tax for FERS on TSP or pension:

http://www.tax.ny.gov/pdf/advisory_opin ... a94_1i.pdf

Congratulations on your upcoming retirement!
by dan23
Mon Jun 16, 2014 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Made the $5 million club, but...
Replies: 43
Views: 13390

Re: Made the $5 million club, but...

No need to wait for the IRA. It most likely makes sense to pull from taxable first anyway. For your spending, I think 4% is too aggressive, especially if you are hoping to grow the money. Using a 3% pretax, yields 150K. After tax in NYC if you are married and this is LTCG and dividends and you are p...
by dan23
Sun Apr 27, 2014 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Question on After Tax 401K to Roth IRA
Replies: 5
Views: 1869

Re: Question on After Tax 401K to Roth IRA

Thanks Alan. It is all post tax (my plan allows me to lump sump contribute to the savings plan which I do and then withdraw), and one of their letters explicitly says that and shows 0 federal and state witholdings. If I understand correctly, I have two options. 1) Cash the check and send my own chec...
by dan23
Sun Apr 27, 2014 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Question on After Tax 401K to Roth IRA
Replies: 5
Views: 1869

Re: Question on After Tax 401K to Roth IRA

Bumping my post -if anyone knows the answer... Thanks.
by dan23
Sat Apr 26, 2014 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Question on After Tax 401K to Roth IRA
Replies: 5
Views: 1869

Question on After Tax 401K to Roth IRA

For the past few years I have been doing rollovers (pre 59.5 non hardship withdrawals) from the after tax sub account of my 401K to my Roth IRA. Every year until this year I have been sent a check made out to Vanguard FTC FBO Me which I mail to Vanguard for my Roth IRA. This year, despite my instruc...
by dan23
Tue Mar 25, 2014 7:33 am
Forum: Investing - Theory, News & General
Topic: Budgeting, kelly criterion
Replies: 5
Views: 883

Re: Budgeting, kelly criterion

Kelly Criterion is not very good for the stock market. It works if: a) You have repeat bets b) You can have good estimates of the probability of outcomes. The basic idea is if, for example, you had a fixed coin where the payoff was even, but the odds of winning were 60%, how much of your bankroll sh...
by dan23
Thu Feb 27, 2014 9:09 pm
Forum: Investing - Help with Personal Investments
Topic: Hard Sell From Fidelity about a Rollover to the TSP
Replies: 26
Views: 2556

Re: Hard Sell From Fidelity about a Rollover to the TSP

Also, in certain states, like New York, no state tax when you withdraw from TSP one day (basic idea is if states don't tax state employees pensions they can't tax TSP, at least for FERS).
by dan23
Sat Jan 18, 2014 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Who taught you about financial responsibility?
Replies: 57
Views: 3856

Re: Who taught you about financial responsibility?

Combination of personality and reading/thinking. I never had much in terms of expensive things I really wanted - my means have always exceeded my wants - with the exception of likely impossibly expensive things like paying for a ride to the space station.