Search found 94 matches

by chemeng
Fri Mar 01, 2019 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Pro-rated merit increase?
Replies: 3
Views: 406

Re: Pro-rated merit increase?

You're lucky you got one at all; many companies have a rule of no increases until the calendar year after your 1 year hire anniversary - so a May 2018 hire would be a May 2019 1-year anniversary and your first increase would come in 2020. The rationale was that your pay was set to market upon hire ...
by chemeng
Fri Mar 01, 2019 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Pro-rated merit increase?
Replies: 3
Views: 406

Pro-rated merit increase?

I joined my current company in May 2018. I was required to do a performance evaluation for 2018 and I just received a 3.5% merit increase. The memo I received states "3.5%", but the actual dollar amount increase of my base salary in the memo does not reflect 3.5%; it reflects 2.3%. I was told that t...
by chemeng
Wed Jan 30, 2019 2:24 pm
Forum: US Chapters
Topic: San Francisco Mid Peninsula, California Chapter
Replies: 52
Views: 10566

Re: San Francisco Mid Peninsula, California Chapter Interest?

You can sign up for the mailing list here: http://groups.yahoo.com/group/bayareadiehards Our meetings are 3rd Thursday of the month in Millbrae - Burlingame area, 7pm. I will send an announcement before our next meeting. We are looking for presenters and topic suggestions. If there is a topic you w...
by chemeng
Fri Dec 07, 2018 12:32 pm
Forum: Personal Investments
Topic: 401k Overcontribution
Replies: 19
Views: 1754

Re: 401k Overcontribution

At what point does the long term compounding on the excess deferral outweigh the double taxation? I'm also having a hard time getting my previous employer to provide a corrective distribution, and thus I've elected to leave in the excess. It seems that over time the compounding will outweigh the ta...
by chemeng
Wed Dec 05, 2018 4:24 pm
Forum: Personal Investments
Topic: 401k Overcontribution
Replies: 19
Views: 1754

Re: 401k Overcontribution

Rather than spend any more time talking to these people I’m thinking of just letting it go. What are the repercussions on doing that? I assume the IRS will figure this out at some point. The over contribution is only $652. As I already pointed, you most definitely do not want to "just let it go." Y...
by chemeng
Wed Oct 10, 2018 3:48 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 554
Views: 48750

Re: Talk me out of buying a Tesla Model 3

I live 5 miles away from the Tesla factory in Fremont, CA, and these cars are as common on the road as Honda Civics - both Model S's and 3's. I'm not a huge fan of the look of the 3 either, but my main wonder, as others have asked, is the jump from the S4 (~50k?) to 70k+ for the Tesla. FWIW, I have ...
by chemeng
Wed Sep 26, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: I see now why Rollovers can take FOREVER ....
Replies: 74
Views: 8768

Re: I see now why Rollovers can take FOREVER ....

I had an interesting experience recently where I initiated a 401(k) rollover from Voya to Fidelity. Voya mailed the check to Fidelity, but to my surprise, about a week later, I received the check in the mail from Fidelity that they could not accept the check because of a missing application. I then ...
by chemeng
Tue Sep 25, 2018 4:33 pm
Forum: Personal Consumer Issues
Topic: Ventilated car seats?
Replies: 61
Views: 4973

Re: Ventilated car seats?

My 2017 Audi A4 has the "sucking" kind. I believe all recent Audi's work like this, rather than blowing outwards. I find this to be much more comfortable over long periods of time. The ones that blow outwards tend to get uncomfortable quicker.
by chemeng
Fri Sep 21, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Keep excess deferral in 401k?
Replies: 1
Views: 261

Keep excess deferral in 401k?

Due to changing jobs this year, I am currently over the $18,500 401k limit for 2018. It is as follows: Company 1: $16,600 contributed Company 2: $8,500 contributed Total: $25,100 Excess: $6,600 I purposely contributed $8,500 to Company 2 as Company 2 matches dollar for dollar up to $8,500, hoping I ...
by chemeng
Fri Sep 14, 2018 12:04 pm
Forum: Personal Investments
Topic: Do you rollover all of your previous 401ks?
Replies: 33
Views: 2579

Re: Do you rollover all of your previous 401ks?

Now that I've joined a new company, my slice and dice portfolio has gotten quite hectic with all of the various options I'm currently contributed to: https://i.imgur.com/V7GthId.jpg> Some of these options within each 401k are excellent, which is why I've currently not rolled over from Company 1 to ...
by chemeng
Thu Sep 13, 2018 6:38 pm
Forum: Personal Investments
Topic: Do you rollover all of your previous 401ks?
Replies: 33
Views: 2579

Re: Do you rollover all of your previous 401ks?

Appreciate it! Interestingly, my consideration in the OP was never to roll over to an IRA due to the backdoor Roth factor, but this discussion turned much into that. My main questions were: 1. How do you strategize your rollovers in general as you acquire more accounts (401ks, HSAs, etc), for the sa...
by chemeng
Wed Sep 12, 2018 6:15 pm
Forum: Personal Investments
Topic: Do you rollover all of your previous 401ks?
Replies: 33
Views: 2579

Re: Do you rollover all of your previous 401ks?

Unfortunately (or fortunately) I will need the backdoor roth, so rolling over to an IRA may not be the best option. But even if I didn't need the backdoor, I would not have access to the institutional shares that these 401ks offer. Why would I want to rollover to an IRA in this case?
by chemeng
Wed Sep 12, 2018 5:50 pm
Forum: Personal Investments
Topic: Do you rollover all of your previous 401ks?
Replies: 33
Views: 2579

Do you rollover all of your previous 401ks?

Now that I've joined a new company, my slice and dice portfolio has gotten quite hectic with all of the various options I'm currently contributed to: https://i.imgur.com/V7GthId.jpg> Some of these options within each 401k are excellent, which is why I've currently not rolled over from Company 1 to C...
by chemeng
Thu Sep 06, 2018 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on rent in high COL area?
Replies: 15
Views: 1710

Re: How much to spend on rent in high COL area?

I'm currently looking for a new place to rent in a very high cost of living area. I've spotted a 189 sq ft studio for $2000 per mo, fully furnished. This represents around ~17% of my gross, but the sq footage is opening my eyes. Does this sound crazy? It might be just too tight spacewise. And I am ...
by chemeng
Thu Sep 06, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: How much to spend on rent in high COL area?
Replies: 15
Views: 1710

Re: How much to spend on rent in high COL area?

I'm currently looking for a new place to rent in a very high cost of living area. I've spotted a 189 sq ft studio for $2000 per mo, fully furnished. This represents around ~17% of my gross, but the sq footage is opening my eyes. Does this sound crazy?
by chemeng
Wed Sep 05, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey actually suggested borrowing money?
Replies: 38
Views: 4002

Re: Dave Ramsey actually suggested borrowing money?

It looks like he does officially recommend this advice on his blog: https://www.daveramsey.com/blog/how-to-sell-an-upside-down-car, but he only states under the specific situation where one "does not have any cash." The concept of "reducing overall debt" makes sense, but I guess I'm just surprised h...
by chemeng
Wed Sep 05, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey actually suggested borrowing money?
Replies: 38
Views: 4002

Re: Dave Ramsey actually suggested borrowing money?

Am I dreaming? In yesterday's hour 3 call, a caller owed $6800 on a car that is worth $5000. The car needed a new engine that would cost ~$1300. I listened to this twice to make sure I heard this correctly, but DR actually suggested taking a $2000 loan to cover the negative car equity, and another ...
by chemeng
Wed Sep 05, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey actually suggested borrowing money?
Replies: 38
Views: 4002

Re: Dave Ramsey actually suggested borrowing money?

I have occasionally heard him advise take out a loan to replace a loan at an extremely high interest rate. I guess this could make sense if someone had a 20% credit card loan and had the ability to covert that into a 5% loan. But in that case, they're not taking on additional debt, whereas the call...
by chemeng
Wed Sep 05, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey actually suggested borrowing money?
Replies: 38
Views: 4002

Dave Ramsey actually suggested borrowing money?

Am I dreaming? In yesterday's hour 3 call, a caller owed $6800 on a car that is worth $5000. The car needed a new engine that would cost ~$1300. I listened to this twice to make sure I heard this correctly, but DR actually suggested taking a $2000 loan to cover the negative car equity, and another $...
by chemeng
Wed Aug 29, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: How do you 7 figure guys organize multiple accounts?
Replies: 164
Views: 13240

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

I'm surprised at all the security fears with regard to Mint and Personal Capital. First of all, their security and data encryption rivals most banks' (and I say that as a banker working at a relatively small institution). +1 I wonder if those here who refuse to link their accounts have actually exp...
by chemeng
Thu May 17, 2018 3:33 pm
Forum: Personal Investments
Topic: 401k loan to get new employer's company match
Replies: 15
Views: 1158

Re: 401k loan to get new employer's company match

Are the 401k administrators for the old and new company the same? If not how would they have the full picture to know that you over contributed? Wouldn't this have to be identified by you to request an over contribution? Seems like if no one was paying attention (even the OP), then it would be iden...
by chemeng
Thu May 17, 2018 1:40 pm
Forum: Personal Investments
Topic: 401k loan to get new employer's company match
Replies: 15
Views: 1158

Re: 401k loan to get new employer's company match

Are the 401k administrators for the old and new company the same? If not how would they have the full picture to know that you over contributed? Wouldn't this have to be identified by you to request an over contribution? Seems like if no one was paying attention (even the OP), then it would be iden...
by chemeng
Thu May 17, 2018 1:08 pm
Forum: Personal Investments
Topic: 401k loan to get new employer's company match
Replies: 15
Views: 1158

Re: 401k loan to get new employer's company match

Did your old company match? Some people have reported over-contributing at the new company and trying to get the old one to do the correction. However, they have little incentive to cooperate. The old company did match, but I wasn't there long enough for it to vest. Ideally, this would be the best ...
by chemeng
Thu May 17, 2018 1:04 pm
Forum: Personal Investments
Topic: 401k loan to get new employer's company match
Replies: 15
Views: 1158

Re: 401k loan to get new employer's company match

New company doesn't know about the 16000 you already contributed, so you could just do non-taxable contributions and still get the match. How does one elect non-taxable contributions (did not see this option in the plan administrator's website)? I assume the advice was supposed to be to make non-Ro...
by chemeng
Wed May 16, 2018 2:07 pm
Forum: Personal Investments
Topic: 401k loan to get new employer's company match
Replies: 15
Views: 1158

Re: 401k loan to get new employer's company match

How does one elect non-taxable contributions (did not see this option in the plan administrator's website)?
by chemeng
Wed May 16, 2018 1:27 pm
Forum: Personal Investments
Topic: 401k loan to get new employer's company match
Replies: 15
Views: 1158

401k loan to get new employer's company match

I just started at a new company. In my previous company, I've already contributed $16000 to their 401k. My new employer offers $8500 company match dollar for dollar per year (given per pay period). Where it stands, I will only be able to receive $2500 in company match ($18500 - $16000 = $2500). New ...
by chemeng
Mon Oct 19, 2015 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

Just received this email from Mango: "Heads Up! - We sent you a check. Hello, As requested, we have sent you a check with the total balance on your Mango Visa® prepaid card and closed your account. You can expect to receive the check in the coming week. Special note: The check you will be receiving ...
by chemeng
Wed Oct 14, 2015 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Financially wise to move out of home?
Replies: 22
Views: 2469

Re: Financially wise to move out of home?

1. Significantly better commute to work - will go from 1 hr in excruciating traffic to 30 min with little to no traffic. Is that each way? When someone says they have an hour commute that often means an hour on a good day, but many times it will be much longer on bad days so it would be good to loo...
by chemeng
Wed Oct 14, 2015 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Financially wise to move out of home?
Replies: 22
Views: 2469

Re: Financially wise to move out of home?

Have you accounted for commuting savings? Our eldest moved from Sunnyvale, where he had a great deal on a bedroom rental, to heart of city despite the increase in rent. His savings from walking to work vs. cost of train were significant. (Doesn't look like you have that much saving in store, but it...
by chemeng
Wed Oct 14, 2015 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Financially wise to move out of home?
Replies: 22
Views: 2469

Re: Financially wise to move out of home?

Thanks for everyone's comments. There looks to be a clear benefit, whether financially wise or not, in moving out.
by chemeng
Wed Oct 14, 2015 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

my mango account now shows $0 and this entry ACH Unload - Praxell PM (CheckACH) $5k So looks like it was processed. Fantastic. I can't believe how excited I am to receive my own money! Great news. I did not call the 212 number, but as of yesterday my account shows the same: Oct-06-2015 ACH Unload -...
by chemeng
Tue Oct 13, 2015 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Financially wise to move out of home?
Replies: 22
Views: 2469

Financially wise to move out of home?

I've been given an opportunity to move out of home (currently in South Bay SF bay area) into a shared home with a good buddy of mine. Rent will be ~$750 for my own room in Peninsula SF Bay Area. I'm having a difficult time deciding if this is a wise decision financially. Here are the main factors: P...
by chemeng
Wed Oct 07, 2015 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

my mango account now shows $0 and this entry ACH Unload - Praxell PM (CheckACH) $5k So looks like it was processed. Fantastic. I can't believe how excited I am to receive my own money! Great news. I did not call the 212 number, but as of yesterday my account shows the same: Oct-06-2015 ACH Unload -...
by chemeng
Fri Oct 02, 2015 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

Of course today I called and got more run around. Now an account specialist will call me back to update me on the status of my check whatever that means. Whether you think this is a good deal or not I warn people about the difficulties in getting your money back at the end. Don't count on a speedy ...
by chemeng
Tue Sep 22, 2015 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

jjface wrote:Worst thing is the sheer amount of time it takes to get your money back if you close the account. I've been waiting weeks. Can anyone who has done it before post how long they took in total?
Had mine closed 3 weeks ago and still waiting for the check...was told 4-6 weeks.
by chemeng
Fri Aug 14, 2015 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

The routing number and account number from the Mastercard to the Visa are identical. There is no change. The physical mail that the card came in has the routing and account number in it, and it is the same as before. The issue, which looks like may spell the end for us continuing Mango, is the curr...
by chemeng
Fri Aug 14, 2015 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

The routing number and account number from the Mastercard to the Visa are identical. There is no change. The physical mail that the card came in has the routing and account number in it, and it is the same as before. The issue, which looks like may spell the end for us continuing Mango, is the curre...
by chemeng
Thu Aug 13, 2015 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: Mango prepaid card - 4.8% (effective) APY

I just now had the same issue with CIT bank. I've set up the Visa Mango account with no issues. However, my attempt to ACH pull from Mango into CIT (which I was doing in the past with the Mastercard account) was denied. I think I will be closing my Mango account as well. Anyone have the same issues ...
by chemeng
Mon Mar 09, 2015 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 367810

Re: MangoMoney account: 6% APY for Emergency Funds

You can ACH pull from the checking account. I have drained a Mango account in two days with ACH pull from USAA. It took two days due to daily limits with USAA. That's great. Why doesn't Mango mention the possibility of doing this on their web site ? Because I do not believe that is their intent of ...
by chemeng
Fri Jan 17, 2014 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Which Book is Better - Personal Finance or Career Choice?
Replies: 13
Views: 1090

Re: Which Book is Better - Personal Finance or Career Choice

To everyone else, thanks for the suggestions on both the books and on how to implement this with my sister.
by chemeng
Fri Jan 17, 2014 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Which Book is Better - Personal Finance or Career Choice?
Replies: 13
Views: 1090

Re: Which Book is Better - Personal Finance or Career Choice

Please. Do you think an 18 year old girl is going to read an investment or personal finance book? Do you think an 18 year old boy would? Now put them in college? Are you kidding? She is in college. The goal is for her to learn what she needs and study for her college courses. And when not studying ...
by chemeng
Fri Jan 17, 2014 1:48 pm
Forum: Personal Consumer Issues
Topic: Bay area Public vs Private School
Replies: 67
Views: 29315

Re: Bay area Public vs Private School

I went to Lynbrook for high school (graduated in 2008), as did both of my sisters. Everything cheapskate mentioned about the pressure and competition is true. However, one point I think is often overlooked is the benefit of the mentality that these types of environments bring. The strong emphasis o...
by chemeng
Fri Jan 17, 2014 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone withdrew their $5k from mango?
Replies: 4
Views: 1873

Re: Has anyone withdrew their $5k from mango?

Also been doing ACH pulls/pushes for the past year with no problem. I push/pull $500 each month in order to meet the "direct deposit" requirement to qualify for the 6% interest.
by chemeng
Fri Jan 17, 2014 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Which Book is Better - Personal Finance or Career Choice?
Replies: 13
Views: 1090

Which Book is Better - Personal Finance or Career Choice?

Today is my little sister's 19th birthday. She is a freshman in college, and I'd venture to guess that the last thing on her mind is developing solid personal finance/investing. Being the evil older brother that I am, I want to give her a good head start, so I promised to buy her any one thing on he...
by chemeng
Wed Jan 15, 2014 3:28 pm
Forum: Personal Consumer Issues
Topic: Bay area Public vs Private School
Replies: 67
Views: 29315

Re: Bay area Public vs Private School

Thanks for such an informative response. Your above points seem to confirm the assumptions I have made about public schools. And reg. looking past the cupertino schools district, we are currently unaware what to look for in a school other than the API scores/student-teacher ratios/diversity. For in...
by chemeng
Fri Nov 08, 2013 6:55 pm
Forum: Personal Consumer Issues
Topic: What Are Some Unwritten Rules in Your Office?
Replies: 39
Views: 5644

What Are Some Unwritten Rules in Your Office?

Took this question from a recent Lifehacker article that was just posted and thought it'd bring some good/entertaining discussions. I'll start: in my office, Sriracha sauce, bought personally by coworkers and not the company, is a commodity, shared universally in our lunch room by many different dep...
by chemeng
Tue Jun 11, 2013 12:24 pm
Forum: Personal Investments
Topic: Approximating Total Stock Market with ING Funds
Replies: 15
Views: 1994

Re: Approximating Total Stock Market with ING Funds

If your whole 401k is in US stock, you'll be overweight. If you're matching out both with no match, the 401k will be 76% of your portfolio. Unless you'll have additional funds to put into taxable (which from your other thread I doubt will be the case for now), you'll need a bond or international ch...
by chemeng
Mon Jun 10, 2013 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Repayment Strategy
Replies: 32
Views: 5491

Re: Student Loan Repayment Strategy

Thanks so much for the advice; it's actually exactly what I have planned out! Since I have just paid off my last unsubsidized loans, I will continue to aggressively pay off the rest of the loans, but will be allocating more of my funds to the $5,500 for the IRA (yes, I am maxing out my 401k, as wel...
by chemeng
Mon Jun 10, 2013 9:28 pm
Forum: Personal Investments
Topic: Approximating Total Stock Market with ING Funds
Replies: 15
Views: 1994

Re: Approximating Total Stock Market with ING Funds

Thanks for the advice everyone. Based upon the suggestions, I have decided to stick with strictly domestic equities in my 401k with 78% INGIX, 12% IIRMX, and 8% IIRSX (this came out very close to VTSXM on the M* X-Ray), and leave the Total Bond Market and Total Intl Market to a Vanguard IRA that I w...