Search found 808 matches

by hornet96
Sat Jan 27, 2024 10:22 am
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

Lastrun wrote: Sat Jan 27, 2024 9:56 am Thanks Vulcan and Stan1. This is helpful.

Edit: off topic. Who would have a BofA credit card and no checking account?
I mean, I have a Chase credit card but no Chase deposit accounts. So it seems plausible to me that a BOA checking account isn’t required simply by virtue of having a BOA credit card? 🤷🏻
by hornet96
Thu Jan 25, 2024 9:34 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

VictorStarr wrote: Thu Jan 25, 2024 9:20 pm
Vulcan wrote: Thu Jan 25, 2024 9:03 pm
Lastrun wrote: Thu Jan 25, 2024 8:28 pm
Vulcan wrote: Thu Jan 25, 2024 8:23 pm Just paid my BofA credit card bill after connecting Vanguard CP and verifying via trial deposits. Payment went through with no issues.
How did you link the accounts?

Under billpay
Under manage accounts or
under credit card function?
"Manage accounts from other banks" under "Pay and transfer".
"Coming Soon. You'll have the ability to add accounts from other banks to make payments. Please check back again soon."
If one ONLY had a BoA credit card, and no BoA deposit accounts - can the CC bill not be paid online via the BoA login?

If that is true - wow. Welcome to what - 1995?
by hornet96
Thu Jan 25, 2024 9:25 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

Just paid my BofA credit card bill after connecting Vanguard CP and verifying via trial deposits. Payment went through with no issues. How did you link the accounts? Under billpay Under manage accounts or under credit card function? "Manage accounts from other banks" under "Pay and transfer". In other words, for those still following: NOT using the “Bill Pay” menu. :wink: “Bill Pay” has a specific meaning: at every other bank, it is only used in a special software module to “push” funds to your various OUTSIDE billers. If BoA is somehow conflating this term with “pulling” funds FROM the OUTSIDE (specifically to “pay” the IN-HOUSE credit card), then they are the ones causing the problem and sowing confusion amongst their...
by hornet96
Thu Jan 25, 2024 2:21 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

Ok, then it makes no sense why you would have to go into a Bill Pay module to setup an ACH pull to pay your credit card. Bill Pay is an entirely separate concept from ACH. Yeah, BofA is definitely weird in this way. I'm a puller not a pusher so prefer to have the CC company pull the amount due, so if there is an issue (never in many years) it is on them, not the billpay system. But BofA really wants you to pay their CCs from your account with them so paying from another account has always been more difficult to set up than say Chase or Amex. So BofA's system is not totally screwing but certainly more difficult. Ah I see....then I guess: maybe it's time to find a different credit card provider. :sharebeer *Not that I don't sympathize with w...
by hornet96
Thu Jan 25, 2024 2:10 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

I haven’t had a BoA card (or loan) for at least a decade, but the processes you describe are similar to what I saw for both Wells Fargo and Chase, and they both easily allowed Cash Plus to be added. My credit union as well, and Ally too. But with Chase you don't have to try to do it through bill pay like the posters are describing with BoA. I do not understand what bill pay has to do with paying a CC via ACH pull from CP. +1. Yes, this is exactly my point - "Bill Pay" is not the same thing as "ACH." I have been able to set up ACH pulls from other banks to make CC payments, including much smaller banks than PNC, under BofA's system. Ok, then it makes no sense why you would have to go into a Bill Pay module to setup an AC...
by hornet96
Thu Jan 25, 2024 1:28 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

I first tried to add the account under the credit card function on the BofA website named "manage accounts at other banks". This is where one gets the 4 checking savings personal or business options. When I select either personal savings or checking, I get this (note this is a BofA message not VG): Coming Soon You'll have the ability to add accounts from other banks to make payments. Please check back again soon. You can use your deposit account from another bank to make payments - currently available only for home loans, credit cards and auto loans. Enter this info exactly as it appears on your account statement. Next I tried under just the normal add an external account function. My Pay From Accounts. Now here I don't have the ...
by hornet96
Thu Jan 25, 2024 10:19 am
Forum: US Chapters
Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
Replies: 429
Views: 41944

Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂

Happy 100th birthday, Taylor! Thanks for all you have done in your lifetime - you have truly embodied the very spirit of the "Greatest Generation." Eternally grateful. :beer
by hornet96
Thu Jan 25, 2024 10:15 am
Forum: Investing - Theory, News & General
Topic: In celebration of Taylor's 100th birthday: A few historical tests
Replies: 28
Views: 5078

Re: In celebration of Taylor's 100th birthday: A few historical tests

McQ wrote: Wed Jan 24, 2024 11:17 pmFinal [planned] post
I hereby nominate the entirety of this outstanding thread by McQ for the Boglehead hall of fame. This has frankly been the most interesting (and entertaining!) read on Bogleheads for quite some time. :beer

And happy birthday Taylor!
by hornet96
Wed Jan 24, 2024 12:06 pm
Forum: Investing - Theory, News & General
Topic: In celebration of Taylor's 100th birthday: A few historical tests
Replies: 28
Views: 5078

Re: In anticipation of Taylor's 100th birthday: A few historical tests

Wow, what a fantastic post! With such an engaging writing style, no one should need a TL/DR version. Well done! :sharebeer

And I feel like this elegant summation basically describes the entire Bogleheads investing philosophy:

How many of those beautiful blond haystacks do you need to own?
McQ wrote: Tue Jan 23, 2024 10:40 pmNo more than three. Maybe just two.
That's it, end of forum /s.

Cheers! :beer
by hornet96
Tue Jan 23, 2024 1:00 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

How are folks finding Cash Plus integration with Quicken? I am still a quicken junkie who tracks all my expenses via the now very aged app, sigh (24 years and counting). I remember when Qt was cutting edge stuff. So far, the account setup okay for me, and all the transactions seemed to have come through correctly, except my purchase of VUSXX from the CP balance seemed to only show half of the transaction (buy into VUSXX), but not the cash out of CP so I had to create a manual sell of CP to cash to balance my cash balance to zero. Also, are folks using the Quicken setup with a linked checking account or just as an investment account? I am thinking of doing the linked checking since my entire purpose here is to track expenses. Any thoughts? ...
by hornet96
Sat Jan 20, 2024 10:05 pm
Forum: Investing - Theory, News & General
Topic: "Which Investments to Keep Out of Your Taxable Account"
Replies: 27
Views: 5344

Re: "Which Investments to Keep Out of Your Taxable Account"

But the key point is benefit of "tax efficient" location is tied to that hidden allocation shift Please explain like I’m five, how you think that a “hidden” allocation shift happens: how a “shift” occurs at all, and how you determine such a shift is “hidden.” I think the wiki could do folks a service by being a lot stronger pointing that out. I think the reason it doesn’t is because tautological arguments like all of these that assert tax efficient asset location is only a “mirage” are not well supported, and would do an even bigger disservice by introducing unnecessary confusion and doubt about an otherwise well established concept in the wiki. And all of these tautological arguments consistently ignore the fact that tax deferra...
by hornet96
Wed Jan 17, 2024 12:14 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Cash Plus Account
Replies: 458
Views: 61897

Re: Vanguard Cash Plus Account

b4nash wrote: Wed Jan 17, 2024 11:51 am Thank you, everyone, for sharing your experience. I am curious if transaction speed is faster from Cash Plus to other Vanguard accounts compared with other banks to Vanguard accounts? Seems my experience is about 2 business days to transfer funds from external to Vanguard and vice versa.
I'm wondering the same thing - i.e. if I receive a direct deposit in Cash Plus, am I able to transfer cash instantly to my regular brokerage account and place a trade? Somewhat similar to how it works when you initiate the transfer to your brokerage account from your bank, where you can immediately place a trade using the pending credit balance?
by hornet96
Wed Jan 17, 2024 12:10 pm
Forum: Investing - Theory, News & General
Topic: More Evidence Against Factor Investing
Replies: 473
Views: 33891

Re: More Evidence Against Factor Investing

The paper is saying that factor investing might be valid, but that the data available and customarily used for applying it are not reliable. And here we have the crux of the problem - that the supposed data used to support the theory is likely unreliable and unstable (and has possibly been fraudulently manipulated). The theory itself may be valid, but the main support used to sell that theory to the masses is beginning to be proven to be bogus. As an aside, this is what always rubbed me the wrong way when Swedroe (another DFA guy) was still around here, where he would consistently berate BH's about "not understanding the literature" supporting the factors. The smug certainty about what the "literature has already proven"...
by hornet96
Sat Dec 16, 2023 6:49 pm
Forum: Personal Consumer Issues
Topic: trashmen tipping conumdrum
Replies: 73
Views: 11990

Re: trashmen tipping conumdrum

TipsQuestions wrote: Sat Dec 16, 2023 11:48 am
runner3081 wrote: Sat Dec 16, 2023 11:37 am Tipping is out of control.

I think the money would be more worthwhile sent to charities for foster kids, etc.


It sure is. I booked a hotel room on a travel website and was asked for a tip recently!
Just wanted to note the appropriateness of your username in this thread. :D

I’ll show myself out. :beer
by hornet96
Tue Nov 07, 2023 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141291

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

Interesting. I've just kept track of after tax income. Everything before tax I've just ignored. I think I can probably just factor in the tax manually. I just need it to calculate overall income and expense. I don’t need to know that $59 a year is spent on toothpaste. If you care about tracking overall income taxes for tax planning purposes (as I do), "grossing up" your paychecks is very important. The only tool on the market I've seen that is really able to accomplish this in a semi-efficient manner is (wait for it): Quicken :D :sharebeer To me, that data just doesn't seem super useful, I can see my income taxes paid YTD on my most recent pay stub, and I can project the remainder of the tax year with math and throw that into tax...
by hornet96
Tue Nov 07, 2023 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141291

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

gavinsiu wrote: Mon Nov 06, 2023 11:09 pm
tj wrote: Mon Nov 06, 2023 10:34 pm Interesting. I've just kept track of after tax income. Everything before tax I've just ignored.
I think I can probably just factor in the tax manually. I just need it to calculate overall income and expense. I don’t need to know that $59 a year is spent on toothpaste.
If you care about tracking overall income taxes for tax planning purposes (as I do), "grossing up" your paychecks is very important. The only tool on the market I've seen that is really able to accomplish this in a semi-efficient manner is (wait for it):

Quicken :D

:sharebeer
by hornet96
Fri Nov 03, 2023 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141291

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

If this were Reddit I'd probably get downvoted for this, but the answer is: Quicken I've tried out nearly all of the Fintech solutions over the last several years, and none of them have ever come close to replicating what Quicken can do - particularly in the area of cash flow forecasting , which is arguably its most valuable feature. Setting it up and learning how to properly* use it can be a pain, for sure. I'm an accountant by trade so it wasn't all that difficult for me; however, once you have everything setup the way you like, all it takes is ~2 minutes a day to update and maintain your "books." A couple of times a year, an account might not update or need to be relinked or something, but it's almost always fixed in short ord...
by hornet96
Fri Nov 03, 2023 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141291

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

If this were Reddit I'd probably get downvoted for this, but the answer is: Quicken I've tried out nearly all of the Fintech solutions over the last several years, and none of them have ever come close to replicating what Quicken can do - particularly in the area of cash flow forecasting , which is arguably its most valuable feature. Does Quicken count dividends from Brokerage accounts as income? Is that also part of the forecasting? It can if you want it to (by customizing at P&L report to include a brokerage account). By "part of forecasting," if you mean does it predict and estimate dividends for you without any user input, the answer is no.* However, you can estimate anticipated dividends on your holdings and manually set...
by hornet96
Fri Nov 03, 2023 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141291

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

I tried Quicken a few years ago (prepaid for a 2 or 3 year subscription in fact), but gave up after a couple of months because in addition to some data sync issues, it's actually impossible to track both my and my wife's 401k accounts, at least without resorting to manual entry. We work for the same company, so the "account number" is the same between the accounts. I could add one, but when I tried to add the other it said the account already existed and refused to add it. When I deleted one and tried to add in reverse order, same result (only now I had the other account instead). Support was unable to assist, so I abandoned it. Is this with their "Quicken Classic" product? With their Simplifi offering I haven't had thi...
by hornet96
Thu Nov 02, 2023 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Intuit's Mint App Shutting Down...Replacement Recommendations?
Replies: 754
Views: 141291

Re: Intuit's Mint App Shutting Down...Replacement Recommendations?

If this were Reddit I'd probably get downvoted for this, but the answer is: Quicken I've tried out nearly all of the Fintech solutions over the last several years, and none of them have ever come close to replicating what Quicken can do - particularly in the area of cash flow forecasting , which is arguably its most valuable feature. Setting it up and learning how to properly* use it can be a pain, for sure. I'm an accountant by trade so it wasn't all that difficult for me; however, once you have everything setup the way you like, all it takes is ~2 minutes a day to update and maintain your "books." A couple of times a year, an account might not update or need to be relinked or something, but it's almost always fixed in short orde...
by hornet96
Wed Nov 01, 2023 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Looking for a corporate trustee
Replies: 21
Views: 2780

Re: Looking for a corporate trustee

illumination wrote: Tue Oct 31, 2023 3:51 pm But as far as a "default" investment, my take away would it would be very similar to Vanguards with a collection of index funds. I don't think they really could have an active management model with only a .5% fee.
Sure they could - by funneling the investments to their in-house active funds. The 0.5% fee is just the administrative fee to service the trust, not the fees to manage the investments necessarily. I haven't looked into Schwab in great detail so maybe that's not the case with them, but one shouldn't assume that any of these brokers would "default" to a Boglehead style index fund investment mix.
by hornet96
Wed Sep 06, 2023 10:02 am
Forum: Investing - Theory, News & General
Topic: International (Non-US) versus US Equities (The "Arguments")
Replies: 5216
Views: 832087

Re: International (Non-US) versus US Equities (The "Arguments")

It seems like this subject can be boiled down to this: US Only: The US produces the highest quality hay in the world in significant quantities, and is in a unique position to continue doing so. I already have all the hay I could ever really need. Pro International: We have no way of knowing when we might just need the hay from other countries, so we better own some just in case. End of thread. :beer We aren't saying the US is the highest quality hay. It just checks all the boxes for passive investing. Ex-US also checks all the boxes, so do whatever you like. Personal finance is personal. But you are saying it is "enough" hay for your needs and you expect that it will continue to be enough for the foreseeable future (ok, fine). Ma...
by hornet96
Wed Sep 06, 2023 7:26 am
Forum: Investing - Theory, News & General
Topic: International (Non-US) versus US Equities (The "Arguments")
Replies: 5216
Views: 832087

Re: International (Non-US) versus US Equities (The "Arguments")

It seems like this subject can be boiled down to this:

US Only: The US produces the highest quality hay in the world in significant quantities, and is in a unique position to continue doing so. I already have all the hay I could ever really need.

Pro International: We have no way of knowing when we might just need the hay from other countries, so we better own some just in case.

End of thread.

:beer
by hornet96
Tue Aug 01, 2023 7:00 am
Forum: Investing - Theory, News & General
Topic: International (Non-US) versus US Equities (The "Arguments")
Replies: 5216
Views: 832087

Re: Frustrated with returns on INTL Stock Index

Yes, it can be frustrating to hold international. https://i.postimg.cc/fLV2VK7M/Screenshot-from-2023-07-30-20-12-44.png It looks like before the 90's there was international premium but this seemed to have disappeared around the 90's. It’s pretty interesting to me looking at this graph, and considering when Fama and French published their seminal paper (~1992) and what has happened to those factor premiums since. As soon as information becomes known, the trade gets crowded out and any premiums tend to disappear (arbitrage). I know the FF paper had nothing to do with international stocks, but the world was starting to change in the 90’s with the dawn of the world wide web, and easier (and faster) dissemination of information. This graph see...
by hornet96
Mon Apr 10, 2023 2:26 pm
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

km91 wrote: Mon Apr 10, 2023 2:12 pm
hornet96 wrote: Mon Apr 10, 2023 1:59 pm
abc132 wrote: Mon Apr 10, 2023 1:44 pm I'm not sure if it buried in this thread somewhere, but it appears to me that Vanguard does not duration match in it's target date funds.
Correct. It's because there are more efficient and effective ways for meeting long-term investment objectives than including an overweight concentration in LTT's.
A look at the portfolios of pension funds and insurance companies suggests that this isn't true
A look at the nature of the (nominal) liabilities of pension funds and insurance companies suggests that there is much more to the story, and that story isn't exactly comparable to the story of an individual investor planning for his or her retirement.
by hornet96
Mon Apr 10, 2023 1:59 pm
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

abc132 wrote: Mon Apr 10, 2023 1:44 pm I'm not sure if it buried in this thread somewhere, but it appears to me that Vanguard does not duration match in it's target date funds.
Correct. It's because there are more efficient and effective ways for meeting long-term investment objectives than including an overweight concentration in LTT's.
by hornet96
Mon Apr 10, 2023 1:02 pm
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

watchnerd wrote: Mon Apr 10, 2023 12:41 pm
I think an issue does arise, though, when people don't understand what is 'in the bond tin', such as declining bond market funds in 2022 and freak out because they didn't understand the risks they had been taking.
And not just declining bond funds.... but a LTT bond fund declining by far more than equity index funds did in the same year. :oops:

I know as well as anyone that a single year's performance isn't indicative of really anything. But it does illustrate the point I keep trying to make... that if you're going to take a long-term risk in your portfolio, nominal LTT's are probably the least efficient way to do it.
rockstar wrote: Mon Apr 10, 2023 12:42 pm
I’d add to the BH approach: understand before you buy.
This I 100% agree with. :sharebeer
by hornet96
Mon Apr 10, 2023 12:14 pm
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

That was a costly mistake. If you were in a classic 60/40 portfolio, and 40% was in vglt, you’d be down 50% on the bond side. And what was the original intent? To reduce volatility? I don’t get it. I think the original intent was that half of that 40% bond allocation in a 60/40 port would be LTT. To quote the original post: "If your portfolio is 60% stocks, then 20% should be long-term Treasuries and 20% in intermediate bonds (e.g. total bond market or intermediate-term Treasuries)." But, yeah....still costly! Yeah I think another issue with the advice given in this thread is that an accumulator would or should hold a 60/40 portfolio to begin with. Kind of an "assuming the conclusion" cognitive error in the OP. Back to ...
by hornet96
Mon Apr 10, 2023 11:30 am
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

While his definition of interest rate risk is the standard definition, the implied notion in his advice given in this thread (i.e. first 20% of bonds belong in LT Treasuries) that an individual investor can and will always be able to hold a 30 year bond to maturity is pretty naïve. I don't agree that this is an "implied notion". The claim, whether right or wrong, seems to me that a portfolio with a little more bond market price risk is better suited for most investors, not that there is zero market price risk. It is absolutely an implied notion. It implicitly assumes an investor will (in all cases) be able to hold a 30 year bond to maturity. That is the only way to completely neutralize interest rate risk. I understand what his c...
by hornet96
Mon Apr 10, 2023 11:15 am
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

km91 wrote: Mon Apr 10, 2023 11:09 am
hornet96 wrote: Mon Apr 10, 2023 10:52 am And yet an individual investor is supposed to be able to predict that he can hold a 30-year bond to maturity, without any doubt?
The investor can make whatever assumptions about the future they want. This doesn't change the fact that if you have a 30 year horizon and expect to hold the bond to maturity, a 30yr Treasury is less risky than a 5yr Treasury.

Just "expecting" to hold to maturity doesn't "make" it less risky - which was the whole point of my post. "Expectations" don't completely negate other risks.
by hornet96
Mon Apr 10, 2023 11:14 am
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

While his definition of interest rate risk is the standard definition, the implied notion in his advice given in this thread (i.e. first 20% of bonds belong in LT Treasuries) that an individual investor can and will always be able to hold a 30 year bond to maturity is pretty naïve. It also completely ignores inflation risk and seems to mistakenly calculate a kind of modified "duration" over the entire life/investing horizon of the investor, completely ignoring the real "call" risks of being forced to sell at an inopportune time, well in advance of the maturity date. The fact that such an early sale may be required isn't necessarily the fault of the investor for poor planning, but rather a recognition that such long-term...
by hornet96
Mon Apr 10, 2023 10:52 am
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 2259
Views: 266993

Re: First 20% of bonds in long-term Treasuries

Long-term bond funds not only offer superior diversification, but they also minimize interest rate risk for investors with long-term investment horizons (including virtually all investors who are currently accumulating retirement savings). This is Orwellian. This is the opposite of what interest rate risk is. Vineviz's definition of interest rate risk is frustrating because it is uncommon. But I believe he's using the CFA institute definition of interest rate risk: The two types of interest rate risk on a fixed-rate bond are coupon reinvestment risk and market price risk. These risks offset each other to a certain extent. An investor gains from higher rates on reinvested coupons but loses if the bond is sold at a capital loss because the p...
by hornet96
Thu Mar 02, 2023 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Equifax Data Breach Settlement
Replies: 130
Views: 15048

Re: Equifax Data Breach Settlement

LadyGeek wrote: Thu Mar 02, 2023 8:09 am
I'm not comfortable supplying personal info to a 3rd party provider. It's not worth it to me for a few dollars.
Oh the irony of having to claim the Equifax settlement by entering in personal information on an unknown third party website..... :oops:

This just reminded me, I have something like a $5 check from the settlement lying around here somewhere...guess I better find it and cash it before I miss out on my free latte for all my troubles. :|
by hornet96
Wed Jan 11, 2023 2:39 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Client Level at $25 million
Replies: 82
Views: 15398

Re: Vanguard Client Level at $25 million

Cheez-It Guy wrote: Wed Jan 11, 2023 10:12 am That is the secret Starship level.
Lol! :sharebeer

They built this city! :wink:
by hornet96
Mon Jan 02, 2023 12:25 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2022 [purchase discount thread]
Replies: 394
Views: 51920

Re: TurboTax 2022 [purchase discount thread]

2ball wrote: Sun Jan 01, 2023 6:43 pm When and where do I get the download code after I purchase Turbo Tax on Amazon?
See my previous post. Go here: www.amazon.com/gsl
by hornet96
Mon Jan 02, 2023 12:21 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2022 [purchase discount thread]
Replies: 394
Views: 51920

Re: TurboTax 2022 [purchase discount thread]

When and where do I get the download code after I purchase Turbo Tax on Amazon? The License Number is on the Your Account > Your Orders page where the TT download link is. not seeing it there. I received the gift card already. ill try to email them Check your email. Amazon sends one with the link to dl the software. Or get on Amazon Chat and they will give you a link. The email they send doesn’t have the correct link. I just found this out this evening after I purchased it. The link in the email just takes you to your order summary page and a link to the product page itself (not the download link). You have to go to the “games and software library” to actually download the software, which can be accessed by this simple link: www.amazon.com...
by hornet96
Wed Dec 14, 2022 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Personal Capital - "USAA no longer supported"
Replies: 15
Views: 6325

Re: Personal Capital - "USAA no longer supported"

This is why I stopped using these finance aggregators. Inevitably one of my accounts somewhere would have an issue in any 12 month period that took months to resolve. And if I have to worry that all my data isn't there and track down manual logins, etc, then it isn't making things faster or easier for me. If it isn't seamless and time saving, then why am I giving them access to all my financial data? +1. I test drove PC for maybe a couple of years, and probably 20% of the time everything synched and worked as it was supposed to. The rest of the time I was constantly fixing something, or contacting customer support, who over a several month period provided their comforting reassurances that their "engineering team was diligently workin...
by hornet96
Fri Oct 21, 2022 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard mistake on 2021 1099-R costing me thousands of dollars
Replies: 87
Views: 11290

Re: Vanguard mistake on 2021 1099-R costing me thousands of dollars

How about a compromise. Let's agree that professional tax preparers should have a warning label affixed to them: "CAVEAT TAXPAYER: If you point out an issue with the data on your tax forms, I may not bother investigating . (my emphasis added) The responsibility is to inquire about the discrepancy and make a judgment call about what the preparer reasonably believes to be appropriate in the circumstance, with the information made available. You seem to believe a full "investigation" should be required (akin to an audit). It is not. Expectations gap. Instead, I can just copy the form data to your tax return without warning you of massive penalties YOU might have to pay due to mistakes caused by a professional neglecting to inve...
by hornet96
Fri Oct 21, 2022 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard mistake on 2021 1099-R costing me thousands of dollars
Replies: 87
Views: 11290

Re: Vanguard mistake on 2021 1099-R costing me thousands of dollars

The original poster said “accountant”, not tax preparer. It is unclear exactly in what capacity this professional was operating or what the reasonable expectations should be. I don’t disagree that someone in the role of tax preparer would have fairly limited responsibility to audit the documentation provided. I personally feel that someone operating in an accountant capacity has a higher responsibility , but there is clearly disagreement on that point here as well. The responsibilities I linked above is from the AICPA, the professional organization overseeing standards of practice for CPAs providing tax preparation services. Your feelings here nicely illustrate what I've been referring to as the "expectations gap." In any event, ...
by hornet96
Fri Oct 21, 2022 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard mistake on 2021 1099-R costing me thousands of dollars
Replies: 87
Views: 11290

Re: Vanguard mistake on 2021 1099-R costing me thousands of dollars

patrick wrote: Fri Oct 21, 2022 12:55 pm
If the information is conflicting, proper inquiries would seem (to me, anyway) to include obtaining and reviewing account statements or other corroborating documentation. While the client apparently never provided them, the professional also apparently never asked for them.

......

If professional tax preparers can't be counted on even to request and review the documents in a case like this, it may be very difficult to lower people's expectations far enough to match.
Again, the tax preparer is not auditing the client's documentation as part of a tax preparation service. See: Professional standards quoted earlier, and also see: Expectations gap.
by hornet96
Fri Oct 21, 2022 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard mistake on 2021 1099-R costing me thousands of dollars
Replies: 87
Views: 11290

Re: Vanguard mistake on 2021 1099-R costing me thousands of dollars

If professional obligations are indeed that low, what is the point of the professional? I have long prepared my own tax returns because I had thought my situation is simple enough to not require professional assistance. If I ran into a situation like this when preparing my own tax return, I would certainly check through the account documents to see what was going on and whether it should indeed be taxable. If a professional doesn't have to even do that, apparently I already do more than a professional would even though I have no relevant education or credentials. (my emphasis added) The preparer can only make a judgment call with the information he is provided. If the information is conflicting, he has to make inquiries about it, and make ...
by hornet96
Fri Oct 21, 2022 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard mistake on 2021 1099-R costing me thousands of dollars
Replies: 87
Views: 11290

Re: Vanguard mistake on 2021 1099-R costing me thousands of dollars

It occurred to me when reading the responses that people have different expectations of their accountants. Rather than guessing about what the expectations or professional obligations are or should be of accountants, let's take a look at what the AICPA has to say about tax preparers' responsibilities 2. In preparing or signing a return, a member may in good faith rely, without verification, on information furnished by the taxpayer or by third parties. However, a member should not ignore the implications of information furnished and should make reasonable inquiries if the information furnished appears to be incorrect, incomplete, or inconsistent either on its face or on the basis of other facts known to the member. Further, a member should ...
by hornet96
Tue Jul 12, 2022 12:59 pm
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22002

Re: anyone else tax loss harvesting like crazy?

VanGar+Goyle wrote: Tue Jul 12, 2022 6:44 am
hornet96 wrote: Fri Jul 08, 2022 12:48 pm I didn't feel like I needed to state the obvious, but selling a security, sitting in cash for a while, and hoping to buy it back later at a more favorable price may indeed be a form of market timing, but it has nothing at all to do with tax loss harvesting.
...
I would suggest that you re-read my post again, and read the prior interactions between myself and Bobcat2 for some proper context.
I now see that you are agreeing with Bobcat2.
I am glad you two worked things out.

"A Foolish Consistency Is The Hobgoblin Of Little Minds" Emerson
[Personal attack removed by admin LadyGeek]
by hornet96
Fri Jul 08, 2022 12:55 pm
Forum: Investing - Theory, News & General
Topic: Has SCV underperformed TSM since 1984?
Replies: 197
Views: 14404

Re: Has SCV underperformed TSM since 1984?

Nathan Drake wrote: Fri Jul 08, 2022 12:39 pm
Why is it somehow incomprehensible that taking on additional risk may actually have higher returns over the long term?
I don't really want to wade all that deeply into this discussion - but Nathan, are you now admitting that any expected factor premiums may in fact only be the result of taking additional risk? I seem to recall that most factor proponents were essentially arguing that a free lunch existed via factor investing. If that stance has changed, I'm glad to see it (I haven't been on these boards as much for a while).
by hornet96
Fri Jul 08, 2022 12:48 pm
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22002

Re: anyone else tax loss harvesting like crazy?

I think that bobcat2 understands tax loss harvesting well, but the definition of market timing seems fungible. I actually don't think he does understand it well. In the example he gave upthread, trying to prove his point about how TLH is market timing, he presented a strawman argument where one investor sold shares of a stock and held the proceeds in cash , with the intention to get back in after the 30 day period elapsed. That isn't what TLH is at all . Your definition of TLH seems to be selling at a loss, then right away buying more shares. That seems to exclude part of the example in the second paragraph of the BH article on TLH. https://www.bogleheads.org/wiki/Tax_loss_harvesting If the BH page is wrong, please correct it. “When I use ...
by hornet96
Fri Jul 08, 2022 9:22 am
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22002

Re: anyone else tax loss harvesting like crazy?

VanGar+Goyle wrote: Tue Jul 05, 2022 1:35 pm
I think that bobcat2 understands tax loss harvesting well, but the definition of market timing seems fungible.
I actually don't think he does understand it well. In the example he gave upthread, trying to prove his point about how TLH is market timing, he presented a strawman argument where one investor sold shares of a stock and held the proceeds in cash, with the intention to get back in after the 30 day period elapsed. That isn't what TLH is at all.
by hornet96
Tue Jun 07, 2022 9:09 am
Forum: Investing - Theory, News & General
Topic: TSP share price in Google Sheets like GoogleFinance
Replies: 112
Views: 34684

Re: TSP share price in Google Sheets like GoogleFinance

Just FYI, somehow the TSP Talk link is still working and pulling in updated prices. I know it's not the "official" site but it's frankly the only one that has reliably worked for several months now, and thus is the one I use.

https://www.tsptalk.com/tracker/tsp_fund_price.php
by hornet96
Fri May 13, 2022 2:14 pm
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22002

Re: anyone else tax loss harvesting like crazy?

Hi hornet96, Consider the following. Both Ralph and George own Apple stock. In recent weeks the stock has fallen about 20% so they both now own $100,000 in Apple stock. Ralph owns the stock in a taxable account. George owns Apple in his IRA. Ralph decides to TLH his Apple position and to avoid the wash rule buys $100,000 0f the stock back 32 days later. George, fearful that the stock will fall further, also sells his position but vows to buy it back when its up 15% from its current low. Thirty six days later Apple is up 15% and George buys $100,000 of Apple. The only difference in their actions is 4 days. Are neither market timing, are both market timing, or is only George market timing because while the actions are the same the motivation...
by hornet96
Fri May 13, 2022 12:17 pm
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22002

Re: anyone else tax loss harvesting like crazy?

Hi hornet96, You wrote - you are in fact making a market timing decision by standing back and doing nothing today So according to you, if you are a buy and hold investor who stays the course and doesn't sell & buy you are a market timer. That's a very " interesting " POV. BobK BobK, with all due respect, you are conflating several entirely different issues. TLH has absolutely nothing to do with "buying and holding," "market timing," or "staying the course." By TLH you are still "buying and holding" (holding a similar fund with >99% performance correlation; e.g. total stock index to large cap index). A TLH'er isn't predicting anything with respect to security prices and is in fact contin...
by hornet96
Fri May 13, 2022 10:41 am
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22002

Re: anyone else tax loss harvesting like crazy?

9-5 Suited wrote: Fri May 13, 2022 10:36 am
bobcat2 wrote: Fri May 13, 2022 9:23 am Nothing wrong with such a market timing scheme and you will probably, but not necessarily, come out ahead over your lifetime compared to simply holding and staying the course. I suspect, however, that most TLH enthusiasts overestimate the value of the tactic.
.....I consider it misleading to label TLH as market timing.
+1. It is extremely misleading to label TLH as market timing, and frankly I expect better from BobK (a long time member and organizer of a local BH chapter).