Search found 114 matches

by uspeed
Sun Mar 10, 2024 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: What does Schwab do better than Fidelity?
Replies: 305
Views: 49295

Re: What does Schwab do better than Fidelity?

I have had both for over 15 years and I have both for reasons, eg. if one is not available (site down etc) other can be used.

Fidelity rolls automatically to default money market fund which pays a higher yield, in Schwab you have to do it manually.

There are some funds in each you can buy with lower transaction fees, so wherever lower I trade there.

Schwab-owned fund are the best, with lower fees compared with Fidelity.
by uspeed
Sat Jan 27, 2024 10:02 am
Forum: Personal Investments
Topic: Roth IRA withdrawal by mistake on same year
Replies: 3
Views: 559

Re: Roth IRA withdrawal by mistake on same year

Thank you so much this is wonderful advice.
I will file tax with form 8606 with which I don't have to pay taxes.
by uspeed
Fri Jan 26, 2024 6:15 pm
Forum: Personal Investments
Topic: Roth IRA withdrawal by mistake on same year
Replies: 3
Views: 559

Roth IRA withdrawal by mistake on same year

Hi, I made a contribution to a Roth IRA on 9/4/23 for the amount of $6500, later on 9/12/23 I transferred $4000 from my Roth IRA account to my regular investment account by mistake, and did not realize it until I got 1099-R with code distribution code J. I am neither 59 (I am 23) nor 5 year rules apply. I also received 5498 forms showing $6500 contribution for 2023. I called Fidelity and they said Mistakes done so you have consequences so consult your Tax advisor, I am not rich, by any means I have a tax adviser. What are my alternatives so I don't have to pay tax or penalty due to this mistake? Should I open another Roth IRA account to deposit $4000 for year 2023? Since fidelity does not allow to put money back in a Roth IRA as a contribut...
by uspeed
Tue Aug 24, 2021 7:14 pm
Forum: Personal Investments
Topic: Payoff Mortgage or Invest?
Replies: 28
Views: 3787

Re: Payoff Mortgage or Invest?

KlangFool wrote: Tue Aug 24, 2021 7:10 pm OP,

Are you Financially Independent? If not, you are not FREE even if you pay off the mortgage. So, why pay off a non-recourse loan? It does not make you financially safer.

I am paying down my mortgage because I am Financially Independent.

KlangFool
Not Financial Independent yet, but in 4 years or so I will be.
by uspeed
Tue Aug 24, 2021 7:07 pm
Forum: Personal Investments
Topic: Payoff Mortgage or Invest?
Replies: 28
Views: 3787

Payoff Mortgage or Invest?

Hi, I understand the pros and cons of payoff a mortgage vs invest money, it is more comfort/peace of mind. However, I was thinking of a couple of scenarios and need help on what makes sense. Mortgage Amount: 300k at 1.75%, 10 years left, been paying extra toward the capital, total monthly $2750, Live in California. No tax advantage of mortgage interest. I have enough money for any emergency, so 300k either pay off mortgage or invest. Scenario 1: Payoff mortgage 300k and invest $2750/month in SPY for next 10 years. Based on the past 10-year history of SPY, it would get me approx 637k at the end of 10 years (Assumption: next 10 years is the same as the past 10 years) https://www.buyupside.com/alphavantagelive/dollarcostavecomputeav.php?symbol...
by uspeed
Fri Feb 06, 2015 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: IRA Account Eligibility
Replies: 2
Views: 398

IRA Account Eligibility

Hi,

I need help for IRA. Following is the sitiuation:

- Our income is 200k
- Both me and my wife employer offers 401k and we max out that.

I was wondering if I can open Regular IRA. I am not qualified and interested in Tax Deduction. Can I open IRA account for $5000?

The reason is :
At some point I want to convert it to Roth IRA, pay taxes at that time on capital gain. But after that it will grow tax free.

Is this possible?

Thanks
by uspeed
Sat Apr 13, 2013 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage - Convert High Balance to Conforming or Invest
Replies: 2
Views: 443

Re: Mortgage - Convert High Balance to Conforming or Invest

Thank you so much - and on top of that I can gradually invest 5k saving a year to some stable investment to make it sweet.
by uspeed
Sat Apr 13, 2013 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage - Convert High Balance to Conforming or Invest
Replies: 2
Views: 443

Mortgage - Convert High Balance to Conforming or Invest

Hi,

I have a 20yr fixed mortgage of my primary house of 470k at 3.5%.

I have an extra 50k in ING account which I will never need in next 10 years and I have sufficient emergency fund. So I was thinking to pay toward the mortgage and refinance the existing High Balance loan to a Conforming loan with better rate (3 1/8%/20yr fix) . By doing so, I can save approx 420 a month or 5k a year in mortgage payment.

Is this a good idea ? Or invest that 50k in some market index fund ? I am confused due to the fact that Market (S&P/Dow) is all time high.

Any input - I will appreciate it.

Thanks
by uspeed
Wed Aug 01, 2012 7:09 pm
Forum: Investing - Theory, News & General
Topic: Why do companies match 401k contributions?
Replies: 43
Views: 14817

Re: Why do companies match 401k contributions?

To bring a good talent into the company by showing this kind of perk, and they include as a part of total compensation.
by uspeed
Thu Jun 21, 2012 9:42 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Contrafund?
Replies: 12
Views: 2270

Re: Fidelity Contrafund?

Contrafund manger are lucky to get significant portion of Apple stock before the big ride i.e in 2008.

The question is - is it going to happen again?
by uspeed
Fri Feb 03, 2012 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Rental property tax question
Replies: 25
Views: 5744

Re: Rental property tax question

Yes, if agi above 150k, you cannot deduct the loss. But consult cpa there may be some situation where it is different.
by uspeed
Tue Oct 11, 2011 9:45 pm
Forum: Personal Investments
Topic: California 529 Plan Changes : Now managed by TIAA-CREF
Replies: 8
Views: 2070

If my memory is correct, wasn't TIAA-CREF the firm that managed the California plan before Fidelity took over? Things may be different now, but I remember that prior to Fidelity, not only were TIAA-CREF's fees higher than many other plans, but also the performance of their investment funds were subpar. So participants paid more for subpar performance. 6 years ago, when my first daughter was born, I chose the UTAH plan (UESP.org) and have been very pleased. Their expenses are rock bottom and they offer an all Vanguard portolio. Since California does not offer any tax deduction for contributions to 529 plans, there is no advantage to go with California over any other state. Thanks, fidelity rep said the same thing, not much benefit with CA p...
by uspeed
Mon Oct 10, 2011 1:58 pm
Forum: Personal Investments
Topic: California 529 Plan Changes : Now managed by TIAA-CREF
Replies: 8
Views: 2070

California 529 Plan Changes : Now managed by TIAA-CREF

Hi,

I just come to know that California ScholarShare (California's 529 Plan) will be managed by TIAA-CREF starting Nov 1, 2011. It was managed by Fidelity and was very happy so far. Now that it is manage by TIAA does anyone has good/bad experience with their funds and fees. I still don't know what fund they will match to and fees.

If TIAA-CREF is not good any good alternatives, may be in different state? What is pros and cons?


Thanks in advance.
by uspeed
Sun Oct 09, 2011 12:34 pm
Forum: Personal Investments
Topic: Am I Crazy to Pay Off My Mortgage?
Replies: 71
Views: 11709

Technically, paying off the mortgage you don't own the house. Stop paying the property tax and you will know whether it is your house or government. Since property tax is very low compared to the mortgage many people ignore this. Couple of points for paying off mortgage: 1. You are house rich not money rich - means if you need money in emergency - you cannot get from house, ofcourse you can get HELOC etc. Keep the money on your side and debt on lender side. 2. If you own the house then you will worried when natural disaster comes like earthquake, hurricane etc in many cases you have to buy separate insurance. So add extra cost for that 3. You also have to look at the opportunity cost, now the interest rate is low you don't get much return.....
by uspeed
Sat Sep 17, 2011 9:53 pm
Forum: Personal Consumer Issues
Topic: Best showerhead?
Replies: 38
Views: 13762

Try this one


5* in Amazon with 50+ review is usually no brainer

http://www.amazon.com/Alsons-655CBX-Flu ... ZSP9NX6YXA
by uspeed
Mon Aug 29, 2011 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many in US choose 30 year fixed rate mortgage?
Replies: 55
Views: 8684

Because atleast I can pay off within 30 years with the reasonable mortgage payment and good tax benefit while I earn the money.

5 year/7 year arm loan will just extend and it is not schedule to payoff like 30 years. AS every 5 year you start from month one and pay all big amount in interest again.

Now a days there are 20 year, which may be good alternatives if someone has to catch up.
by uspeed
Mon Aug 29, 2011 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Schwab Bank will no longer sponsor credit cards
Replies: 138
Views: 27960

Got $2688 so far from this credit card. Will miss...but Fidelity not bad, which is 1.5%.
by uspeed
Thu Aug 11, 2011 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: How do I apply for a business?
Replies: 3
Views: 1090

you don't have to file business, you can use schedule C for this kind of things. If you register there are lot of activities you have to do in terms of book keepings, fees to pay etc. Better go with schedule C
by uspeed
Thu Aug 11, 2011 8:44 pm
Forum: Personal Consumer Issues
Topic: Why won't gas prices fall!?!?
Replies: 71
Views: 8697

Gas prices that you are looking is the news a a future contract, mostly next month, the gas station owner, get the gas prices based on what company provide to them, they don't reduce the price as the inventory is low and hence you don't see the lower price. But when it goes up they all raised it quickly in anticipation that it will go up, but not in the case when it goes down. So the culprit is the refiners...
by uspeed
Fri Nov 19, 2010 9:07 pm
Forum: Investing - Theory, News & General
Topic: Wondering about the 7.5% return investment ad on Dave Ramsey
Replies: 30
Views: 18496

The important thing is Guarantee by whom? Anyone can give guarantee, there is a risk associated with Guarantor.

There are three risk in this kind of investment

1. Market Risk - it can go down
2. System Risk - like financial crisis in 2008
3. Institution Risk - the company who take/manage your money for investment
by uspeed
Tue Jul 13, 2010 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Poll: Monthly cost on TV, phone, and internet?
Replies: 51
Views: 7033

who has < 50 ? Seriously?

Cable : $14
DSL : $20
Cell: Pay per use, $10?
No home phone!!

Who is this?
by uspeed
Mon May 31, 2010 10:12 am
Forum: Personal Consumer Issues
Topic: Who is Best Buy's closest competition???
Replies: 39
Views: 6579

I have a free money to buy in best buy, but could not find anything....
by uspeed
Wed May 26, 2010 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity vs. Schwab credit card
Replies: 35
Views: 6413

It is obvious Schwab is better because they give 2% cashback compare to 1.5%.
by uspeed
Wed May 26, 2010 9:28 pm
Forum: Investing - Theory, News & General
Topic: Apple market cap greater than Microsoft
Replies: 16
Views: 2957

Cisco top Microsoft and GE one time.
by uspeed
Wed May 26, 2010 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Historical Comparison of Broker Fees
Replies: 7
Views: 4107

I think back in the old days it was based on % of trade amount.

But I am trading online since 97, started with Morgan Stanley (they baught some company who was doing this), it was $19.95, then goes to $14.95, then 12.95, now I changed to Fidelity which is $8.
by uspeed
Mon May 24, 2010 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and Cons of paying off mortgage..
Replies: 207
Views: 41996

For all the folks believe in peace of mind with payoff, how do you feel when natural disaster like earthquake, hurricane, flooding occurs, don't you put your money at risk? Would it be a peace of mind especially in last 10 years we have a lot of natural and terror disastrous.

Second point, wouldn't be better to pay with cheaper dollar, since inflation expected to high.

My 2 cents.
by uspeed
Thu May 13, 2010 10:58 pm
Forum: Personal Consumer Issues
Topic: Anyone know how to get out of jury duy?
Replies: 74
Views: 18401

1. Tell them that you exercise the independend judgement, I have my strong openion which is hard to change.
2. Tell them you are biased, if it is lawsuite claiming money, you can say all corporate are cheater they cheat their employee and customers to pocket money by lying and wrong doing. Remeber merk, philip moris, enron etc. If it is criminal murder case then say they should be punished to death penalty.
3. Use the phrase like jury nullification means everything in the lawsuite are right but its not suppose to be in my openion so I ignore those true fact and decided guilty based on what I think. This is powerful phrase to get out of this.
by uspeed
Sun Feb 14, 2010 9:42 pm
Forum: Personal Investments
Topic: Only one 529 for two kids?
Replies: 19
Views: 4497

I keep one account for both of my kids, it is just managing few account is easier then multiple. In my case the gap is three year, but hopefully should be fine, you can change the beneficiary at any number of time in a year.
by uspeed
Tue Sep 22, 2009 7:39 pm
Forum: Personal Investments
Topic: Your 529 plan(s): Gain or Loss?
Replies: 30
Views: 5863

I open my 529 late last year and 44% return so far, $100/month contribution.
by uspeed
Wed Aug 12, 2009 10:09 pm
Forum: Personal Consumer Issues
Topic: What dead rock stars did you see before they died?
Replies: 102
Views: 13660

Guys. Please stop looking at those stars...we are loosing them..and none is expecting to become one. lol
by uspeed
Tue Aug 04, 2009 10:46 pm
Forum: Investing - Theory, News & General
Topic: Recovery V going to W
Replies: 0
Views: 746

Recovery V going to W

I was checking my portfolio in quicken -- here is the chart, clearly it is V shape recovery for my portfolio (not sure about economy), but I think it can make W.

Image


http://3.bp.blogspot.com/_pMHKE1Q5e3s/S ... vshape.gif
by uspeed
Tue May 12, 2009 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Chase credit card 3% cashback no more
Replies: 280
Views: 309235

I still have for gas only though.

Here is info from web site.

Your Chase PerfectCard™ is just that — Perfect. You earn rebates on all brands of gasoline — not just one brand.

With your Chase PerfectCard, you earn a 3% rebate on all eligible gas purchases at any gas station and a 1% rebate on all other purchases. Your rebate is automatically credited to your monthly statement - no forms to fill out, no keeping track of points.

Earn rebates on all your eligible gasoline purchases and everything else you buy. The more you use your Chase PerfectCard, the more rebates you'll earn and the payoff is fast and easy.
by uspeed
Tue May 12, 2009 10:47 pm
Forum: Personal Investments
Topic: How much do you plan to pay for your child's college?
Replies: 39
Views: 6333

If you count inflation depneding on no of years left, it will alway be more than 30k. Fees are rising at the rate of 8%.

Am I missing something?
by uspeed
Thu May 07, 2009 11:09 pm
Forum: Personal Investments
Topic: I'd like to invest in China & India through mutual funds
Replies: 1
Views: 936

look at Matthew India and Matthew China

MINDX
by uspeed
Thu Apr 30, 2009 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule K-1 Question
Replies: 4
Views: 1529

Thanks. I think next year I can adjust the cost basis to show that.
by uspeed
Thu Apr 30, 2009 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule K-1 Question
Replies: 4
Views: 1529

Schedule K-1 Question

Hi Experts,

I have received the Schedule K-1 and shows Ordinary Business Income $212. (I baught share "PSE" from the open market in 2008). But I have not recieved such money, I sold the stock in loss this year (2009).

Do I have to pay tax on the money that I never received?

Please advise.

Thanks
by uspeed
Sun Apr 26, 2009 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone have an account with Schwab?
Replies: 26
Views: 4903

I have the similar sitiutation as op.

But I keep thinking that Fidelity is a custodial for the 401k assets.

Does anyone think one should not put all the eggs in one backet concept for Fiedlity?
by uspeed
Sun Apr 12, 2009 11:42 am
Forum: Investing - Theory, News & General
Topic: Facts about Goldman Sachs, are they really bad guy?
Replies: 0
Views: 815

Facts about Goldman Sachs, are they really bad guy?

I found interesting blog site for the bogleheads

http://www.goldmansachs666.com/

Goldman Sachs hires law firm to shut this site.
by uspeed
Fri Apr 03, 2009 12:24 am
Forum: Personal Finance (Not Investing)
Topic: Too compulsive tracking $ with Quicken or MS Money?
Replies: 33
Views: 5551

I think he is trying to say "Are you living happy and have fun in life?, after all - it is all about this."


If you are happy with what you do, don't bother. If not, try to find what makes you happy.


BTW, according to the new accounting rule, we can just put our house worth whatever value back in 2006, according to new accounting rule and make ourself happy. LOL.
by uspeed
Wed Apr 01, 2009 7:39 pm
Forum: Personal Investments
Topic: GNMA
Replies: 8
Views: 2658

I have also put in fidelity gnm to get better rate.

The risk is when the interest rate rise you can loose the principal value. You have to proactively alert and eyes on macro economic environment.
by uspeed
Fri Mar 20, 2009 10:05 pm
Forum: Personal Consumer Issues
Topic: $750k/yr to $7.29/hr
Replies: 28
Views: 4843

check this out - very funny

http://www.youtube.com/watch?v=3XGJq8wrw5I
by uspeed
Wed Mar 18, 2009 11:02 pm
Forum: Personal Consumer Issues
Topic: In the market for a laptop.... suggestion please
Replies: 62
Views: 10115

nice deal running on today http://shop.lenovo.com/SEUILibrary/controller/e/web/LenovoPortal/en_US/config.workflow:java-configure?x=x&AID=10395783&PID=1371119&CJURL=http%3A%2F%2Fshop.lenovo.com%2FSEUILibrary%2Fcontroller%2Fe%2Fweb%2FLenovoPortal%2Fen_US%2Fconfig.workflow%3Ajava-configure%3Fx%3Dx&sb=%3A00000025%3A00001A3E%3A&SID=u78191t1248655f0fp0c0s590 $500 with code USPTHINKRT * Intel Core2 Duo processor T5870 (2.0GHz 800MHz 2MBL2) * 13.3" WXGA LED Backlight * 2 GB (2x1GB) PC2-5300 DDR2 SDRAM 667MHz * UltraNav * HDMI port * 160 GB Hard Disk Drive, 5400rpm * 4-cell Battery * DVD Recordable 8x Max Dual Layer * ThinkPad 11b/g Wireless LAN Mini PCI Express Adapter III * NVIDIA GeForce 9300M 128MB * Genuine Windows Vist...
by uspeed
Mon Mar 16, 2009 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should Cramer go to jail?
Replies: 14
Views: 4115

Meida like cramer should also be testify in the congress, they are part of this mess too.
by uspeed
Sun Mar 15, 2009 8:04 pm
Forum: Investing - Theory, News & General
Topic: CNBC worthless as information source
Replies: 50
Views: 11159

Bloomberg is informative. CNBC has their own agenda.
by uspeed
Thu Mar 12, 2009 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should Cramer go to jail?
Replies: 14
Views: 4115

If it is based on voting, I have my vote for him going jail.

Very speculative...
by uspeed
Thu Mar 12, 2009 11:28 pm
Forum: Investing - Theory, News & General
Topic: Madoff's new home
Replies: 26
Views: 4153

I feel sorry about this old guy.

But if I had my money in his fund then I would expect to have worst that this.
by uspeed
Thu Mar 12, 2009 11:27 pm
Forum: Investing - Theory, News & General
Topic: China worried about US Treasury
Replies: 13
Views: 6360

China worried about US Treasury

http://www.bloomberg.com/apps/news?pid= ... refer=home

I guess the future of treasury is on them (China and Japn), if they stop buying, interest rate will go up and consumer will spend less and effect their foreign reserve.
by uspeed
Mon Feb 16, 2009 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Breaks Are Coming
Replies: 20
Views: 3647

I like this one:


Excluding some unemployment benefits from taxes. Folks receiving unemployment checks normally must report that money as income. For 2009, they will be allowed to exclude the first $2,400 in benefits received.
by uspeed
Thu Feb 05, 2009 11:37 pm
Forum: Investing - Theory, News & General
Topic: Is Bank of America going to survive?
Replies: 159
Views: 37838

Bank of America Memo: ‘The Longest Board Meeting in Anyone’s Memory’

http://blogs.wsj.com/deals/2009/02/05/b ... ostPopular