Search found 482 matches

by Chicago60
Thu Jul 30, 2020 8:18 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2249
Views: 385969

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Something to consider: if you are happy with whatever brokerage firms you are using, you may want to ask for a retention bonus to keep your account with them, and ask that they match their competitors' bonus. Do your research in advance before making the call so you can tell them the bonus being of...
by Chicago60
Sat Jul 25, 2020 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: IRS treatment of tax liability for Roth conversion (calendar year)?
Replies: 3
Views: 318

Re: IRS treatment of tax liability for Roth conversion (calendar year)?

Scenario: taxpayer makes a large Roth conversion during December and adds newly generated tax liability to fourth quarter estimated tax payment (due January 15 the following year). Assume taxpayer paid estimated taxes/withholding the prior three quarters to satisfy tax liabilities incurred during t...
by Chicago60
Sat Jul 25, 2020 9:58 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2249
Views: 385969

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Something to consider: if you are happy with whatever brokerage firms you are using, you may want to ask for a retention bonus to keep your account with them, and ask that they match their competitors' bonus. Do your research in advance before making the call so you can tell them the bonus being off...
by Chicago60
Mon Jul 20, 2020 7:04 am
Forum: Investing - Theory, News & General
Topic: Financial brokers must act in your "Best Interest" Ha! (NYTimes on new rules)
Replies: 9
Views: 1312

Re: Financial brokers must act in your "Best Interest" Ha! (NYTimes on new rules)

If the advisor completes the form in her own handwriting, I am not sure it is materially different than her signing it. Presumably, if she completes it and hands it to you, she is agreeing to its terms. If the client types in the name of the advisor and other information, then you might have problem...
by Chicago60
Thu Jul 16, 2020 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Tax season over but..
Replies: 7
Views: 1002

Re: 2019 Tax season over but..

SVT wrote:
Thu Jul 16, 2020 5:17 pm
I'm not sure why you would mail a check instead of just pay online with a CC.
To avoid an unnecessary fee?
by Chicago60
Sun Jul 12, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Amex platinum annual fee
Replies: 20
Views: 2311

Re: Amex platinum annual fee

I have the Schwab card, and depending on your relationship dollars with Schwab, you can be credited $100 to $200 per year. Additionally, last year I was given 20,000 Amex points to keep the card. I use the $15/month Uber benefit for Uber Eats every month. I also use the two new benefits of $20/month...
by Chicago60
Sun Jul 12, 2020 6:25 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2249
Views: 385969

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

MikeG62 wrote:
Sat Jul 11, 2020 4:01 pm
Chicago60 wrote:
Sat Jul 11, 2020 3:40 pm
MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
https://accounts.chase.com/consumer/ban ... vateclient
Thanks
by Chicago60
Sat Jul 11, 2020 3:40 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2249
Views: 385969

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

MikeG62 wrote:
Sat Jul 11, 2020 3:19 pm
I’m in the process of getting $2,000 for $250,000 at Chase.
May I ask whether you have a link or ad for this promotion? I see a $725 bonus for that investment amount of new money.
by Chicago60
Fri Jul 10, 2020 4:42 pm
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

[quote=LookinAround post_id=5362193 time=1594393705 user_id=132754
I was being facetious
[/quote]

As was I.
by Chicago60
Fri Jul 10, 2020 9:19 am
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

LookinAround wrote:
Fri Jul 10, 2020 8:45 am
p.s. You think it's something regional? I just noticed your username and I'm in Chicago too! :sharebeer
Regional? I'd like to think Chicagoans are pretty astute with finances and numbers, but I suppose that somewhat ignorant would likely not know any better, so it is possible.
by Chicago60
Sat Jul 04, 2020 6:07 pm
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

I am some years away from IRMAA/social security.... Not too many, based on you having done 45 years of returns by hand and your age 63 return being the first one that affects IRMAA tiers. ;) Reading the first ~25 rows of the Instructions tab is probably a good place to start with that spreadsheet. ...
by Chicago60
Sat Jul 04, 2020 5:24 pm
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

Paying more taxes for every dollar over the next marginal tax bracket is a mess up. I agree that paying 8 points in taxes more than I would have wanted would have been worse, but leaving so much available for conversion was just a stupid mistake. I had never previously concerned myself with my marg...
by Chicago60
Sat Jul 04, 2020 5:20 pm
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

If you think a picture is worth more than some number of individual TurboTax, etc., calculations, and have a little Excel knowledge, consider using something like the personal finance toolbox . I tend to work better with numbers, but your picture summarizes the representation very well. I will try ...
by Chicago60
Sat Jul 04, 2020 5:13 pm
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Re: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

Not necessarily always true tho.......for folks converting to the top of the 12% bracket, if they do what you suggest, they will up the 12% bracket w/ ordinary income and push the QD/LTCG into the 22% bracket (for ordinary income)where they will be taxed at 15% instead of 12%. Point well taken.
by Chicago60
Sat Jul 04, 2020 12:30 pm
Forum: Personal Investments
Topic: Converting IRA to Roth IRA at top of my Marginal Rate? I messed up
Replies: 17
Views: 1515

Converting IRA to Roth IRA at top of my Marginal Rate? I messed up

This post is more in the vain of a Public Service Announcement if you are converting a tIRA to a Roth and want to get close to the top of a marginal tax bracket, no matter what bracket that might be. I thought I knew what I was doing in late 2019, but realized when I did our taxes that I missed my c...
by Chicago60
Sat Jul 04, 2020 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Employer not paying unused PTO after termination
Replies: 22
Views: 3125

Re: Employer not paying unused PTO after termination

You should consult with an attorney who practices primarily in employment and labor law representing employees. Contact your local bar association for a referral, or do some research. The answer likely depends on what state you are in, but there may be an applicable federal law since I believe there...
by Chicago60
Tue Mar 10, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Airfare and corona virus
Replies: 21
Views: 2121

Re: Airfare and corona virus

Does anyone know if the newly instituted more liberal cancellation/change policies include ticket paid for with miles or Basic Economy? Delta for example is saying "all tickets" . https://www.delta.com/us/en/advisories/other-alerts/coronavirus-travel-updates Data point: Today I cancelled domestic t...
by Chicago60
Sat Feb 15, 2020 12:17 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversion: IRA or 401K?
Replies: 8
Views: 769

Re: Roth Conversion: IRA or 401K?

I am now over 59 1/2 and have my solo 401K with Vanguard, but am not familiar with whether the "form plan" Vanguard offers to solo 401Ks authorizes an in plan Roth rollover. I suppose I will simply continue conversions in the Schwab tIRA.
by Chicago60
Fri Feb 14, 2020 6:17 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversion: IRA or 401K?
Replies: 8
Views: 769

Re: Roth Conversion: IRA or 401K?

Good call. Thanks. Any other differences I should consider?
by Chicago60
Fri Feb 14, 2020 10:05 am
Forum: Investing - Theory, News & General
Topic: Roth Conversion: IRA or 401K?
Replies: 8
Views: 769

Roth Conversion: IRA or 401K?

I have a 401 K and Roth 401K at Vanguard. I also have a tIRA and Roth IRA at Schwab. I plan on converting a sizable amount this year. Are there any pros or cons to converting from 401K to Roth 401K vs converting tIRA to Roth IRA?
by Chicago60
Fri Feb 07, 2020 2:32 pm
Forum: Personal Consumer Issues
Topic: What is the best concert you ever witnessed?
Replies: 385
Views: 27775

Re: What is the best concert you ever witnessed?

Doom&Gloom wrote:
Fri Feb 07, 2020 2:23 pm
Good question about Keith. Clean living and hard work, I imagine :beer
You do have quite the imagination.
by Chicago60
Tue Nov 05, 2019 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Law firm wants 40% PLUS expenses
Replies: 7
Views: 1483

Re: Law firm wants 40% PLUS expenses

I have to promise to give the firm 40% of all monies recovered PLUS all of the law firm's expenses. Question: Is having to pay for the law firm's expenses a common feature of these suits? I thought it was usually all taken entirely on a contingency basis. Do you have to pay out of pocket for expens...
by Chicago60
Mon Oct 14, 2019 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is class action settlement taxable income?
Replies: 8
Views: 770

Re: Is class action settlement taxable income?

I think it depends on the nature of the claim. For example, if you owned stock that was the subject of a class action settlement due to alleged misrepresentations, and you still own the stock, I suspect the settlement proceeds lowered your basis in the stock and might not be taxable in the year you ...
by Chicago60
Sat Sep 21, 2019 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Anyone have experience with TAB Bank or BMO Harris?
Replies: 3
Views: 490

Re: Anyone have experience with TAB Bank or BMO Harris?

I agree with everything ChicagoBear7 wrote, and in particular, BMO Harris generally does NOT seem to have competitive deposit interest rates. I think you are best served by looking at this website and do some comparison shopping based on how long you want to park the money, and any issues with early...
by Chicago60
Thu Aug 22, 2019 1:29 pm
Forum: Personal Consumer Issues
Topic: Chicago - What to see, do & eat in two days
Replies: 71
Views: 4308

Re: Chicago - What to see, do & eat in two days

Oh and I know its for the tourists and we've tried them all but we've settled on Giordano's for deep dish pizza. This has to stop. Giordano's is objectively the worst "deep dish" (I think they market it as stuffed) pizza in Chicago. Do not suggest that tourists or anyone go there. Maybe your dog.
by Chicago60
Tue Aug 20, 2019 5:50 pm
Forum: Personal Consumer Issues
Topic: Chicago - What to see, do & eat in two days
Replies: 71
Views: 4308

Re: Chicago - What to see, do & eat in two days

I'm not sure how vibrant the shopping district is anymore, but Marshall Field's (is it still called that?) north up Michigan is pretty entertaining, and you can at least window shop for free. It IS still called Marshall Field's--but only by Chicagoans. It is now Macy's (on State Street or in Water ...
by Chicago60
Thu Aug 15, 2019 12:37 pm
Forum: Investing - Theory, News & General
Topic: GE shares tank more than 13% after Madoff whistleblower calls it a ‘bigger fraud than Enron'
Replies: 101
Views: 11585

Re: GE shares tank more than 13% after Madoff whistleblower calls it a ‘bigger fraud than Enron'

Thus employees of a company or its advisers can insider trade. I do not know what makes you believe this statement. I think he means "can" as in "able to", versus "can" as in "allowed to". If you aren't associated with a company, you can't ever commit insider trading wrt the company. Because you ar...
by Chicago60
Thu Aug 15, 2019 12:23 pm
Forum: Investing - Theory, News & General
Topic: GE shares tank more than 13% after Madoff whistleblower calls it a ‘bigger fraud than Enron'
Replies: 101
Views: 11585

Re: GE shares tank more than 13% after Madoff whistleblower calls it a ‘bigger fraud than Enron'

Valuethinker wrote:
Thu Aug 15, 2019 12:09 pm

Thus employees of a company or its advisers can insider trade.
I do not know what makes you believe this statement.
by Chicago60
Sun Aug 11, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: How should my Spouse and I handle a $300,000 Settlement?
Replies: 119
Views: 7761

Re: How should my Spouse and I handle a $300,000 Settlement?

One big question comes to mind for which I do not have the answer - Is this settlement amount considered taxable income and can anyone cite an IRS publication reference :?: This is a very complicated question and the answer depends on details that the OP should not be sharing in a public forum like...
by Chicago60
Mon Aug 05, 2019 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Proof of limited partner ownership
Replies: 3
Views: 401

Re: Proof of limited partner ownership

Have you been sent K-1s from the Partnership?
by Chicago60
Mon Jul 15, 2019 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Tenant turned off all utilities advice please!!
Replies: 85
Views: 8746

Re: Tenant turned off all utilities advice please!!

Whakamole wrote:
Mon Jul 15, 2019 8:36 am
He should probably consult a local landlord/tenant attorney to discuss his options.
This is the correct answer. What his rights are will depend on the terms of the written lease, state law, and any applicable municipal law for landlord-tenants.
by Chicago60
Fri Jul 12, 2019 8:12 am
Forum: Personal Finance (Not Investing)
Topic: No A/C in Office [not a safe work environment]
Replies: 86
Views: 8995

Re: No A/C in Office

90 degrees outside with no AC must be really uncomfortable, but I cannot imagine it rises to the level of actionable unsafe work environment.
by Chicago60
Fri Jul 12, 2019 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Advice for Job Search (Attorneys)
Replies: 12
Views: 1788

Re: Advice for Job Search (Attorneys)

If you are interested in plaintiff class action work, you should investigate the handful of firms who do that work in your area and contact them directly; though I would not be optimistic that someone with a number of years of in house experience is necessarily the type of candidate they would have ...
by Chicago60
Thu Jul 11, 2019 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Pay Bank of America Credit Card from Another Bank?
Replies: 15
Views: 1516

Re: Pay Bank of America Credit Card from Another Bank?

I have a couple of BofA credit cards, and have no problem paying them off online from the website of the internet bank I use.
by Chicago60
Mon Jul 08, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Sign up bonuses
Replies: 16
Views: 1843

Re: Credit Card Sign up bonuses

Why not run through the plethora of AmEx options?
by Chicago60
Mon Jul 08, 2019 9:02 pm
Forum: Personal Consumer Issues
Topic: St. Louis Travel/Tourism
Replies: 20
Views: 1554

Re: St. Louis Travel/Tourism

For a recent trip to Boston, I had posted and gotten advice from others here on the area/city. One commenter in that thread asked me for thoughts on my own city, and I did so, somewhat briefly. Now I'm going to expand my thoughts for the benefit of others who might be visiting or considering a trip...
by Chicago60
Fri Jul 05, 2019 4:44 pm
Forum: Personal Investments
Topic: Best way to plan for $620K long term capital gains?
Replies: 18
Views: 2795

Re: Best way to plan for $620K long term capital gains?

I'd consider something that hardly ever gets considered here: talk to a really smart stockbroker. You might be able to protect your downside risk of the equity with options/collars (I am not sure if that is the right terminology, even) so that you can sell portions of the equity in multiple year inc...
by Chicago60
Wed Jul 03, 2019 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Churning Credit Cards
Replies: 84
Views: 9459

Re: Churning Credit Cards

Is there any consensus how many cards is too many? I do not think so. So long as you pay the balance in full, and can keep track of minimum spend to get the bonuses, and you are not expecting to apply for a large loan anytime soon, I see little reason not to gobble up as many sign up bonuses as you...
by Chicago60
Sat Jun 29, 2019 11:17 am
Forum: Personal Investments
Topic: Bought Prospectus Under Separate Cover
Replies: 9
Views: 1801

Re: Bought Prospectus Under Separate Cover

Hi all, Personal Capital is telling me that I bought a prospectus under separate cover for a Fidelity fund I buy. Has anyone ever seen this? I've never bought a prospectus and thought they were free and public. A google search leads to an old 2012 forum post here in which the term is not defined (i...
by Chicago60
Tue Jun 25, 2019 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy a condo in Chicago?
Replies: 52
Views: 6165

Re: Should I buy a condo in Chicago?

Single professional guy here who purchased a condo on the northside in Chicago (Uptown) in 2006 or so and later sold it in 2012 or so. I would purchase a condo again, if I found the right one in the right location. I would NEVER purchase one in a building with a small number of units. My condo asso...
by Chicago60
Mon Jun 17, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card sign on bonus suggestion
Replies: 32
Views: 3356

Re: Credit card sign on bonus suggestion

It might "seem" like a fraud to you, but it is not; though the name is weird. See, for example, for Los Angeles county: https://www.lacounty.gov/business/starting-a-business-in-the-county/filing-a-fictitious-business-name/ Neither the applicant, nor the "person who provided them" committed fraud. A...
by Chicago60
Thu Jun 13, 2019 8:42 am
Forum: Personal Consumer Issues
Topic: Which car to buy?
Replies: 29
Views: 2974

Re: Which car to buy?

What will you be using the vehicle for? Do you need an SUV? Do you need the 5 seats and extra storage? Do you need 4 wheel drive? I think you should consider these issues as much as the financial questions. I suspect both vehicles will last you many years.
by Chicago60
Thu Jun 13, 2019 8:37 am
Forum: Personal Consumer Issues
Topic: Do you repair your own appliances?
Replies: 65
Views: 4198

Re: Do you repair your own appliances?

I replace the oil in my lawn mower. And, I even put gas in. That's about the extent of my "repair" appliances gig.
by Chicago60
Thu Jun 13, 2019 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Credit card sign on bonus suggestion
Replies: 32
Views: 3356

Re: Credit card sign on bonus suggestion

I agree with willthrill seems like a slam dunk fraud. False information that was relied on in order to apply for credit. Its not odd that those statements were called fictitious because that is what they are. Just so you know, anyone who provided those to you with knowledge that you were submitting...
by Chicago60
Thu Jun 13, 2019 7:59 am
Forum: Personal Consumer Issues
Topic: Where to sit at Wrigley?
Replies: 18
Views: 1648

Re: Where to sit at Wrigley?

With kids at those ages, I think the bleachers would be a fine spot to see a ball game. They are likely to hear some swear words and see people drinking quite a bit of beer, and see some 20-something women with bikini tops and short shorts. Whether you want to shield them from such debauchery or not...
by Chicago60
Sat Jun 08, 2019 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Lawsuit settlement
Replies: 13
Views: 1788

Re: Lawsuit settlement

I would urge you to get a CPA with experience in this area. I think the general rule is that bequeaths are not taxable, but the general rule also is that settlements from non-personal injury litigation might be. How these 2 general rules are reconciled under these specific facts should be answered b...
by Chicago60
Sat Jun 08, 2019 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Chase Southwest Airlines credit card
Replies: 10
Views: 1685

Re: Chase Southwest Airlines credit card

I closed my $99 Chase/Southwest credit card a few months ago, but it still shows up as Closed in my Chase online card summary. I'd like to obtain the new $149 Chase card, mostly for the signup bonus but also because it'a a better deal going forward (I had the $99 card for years, but it was never a ...
by Chicago60
Mon Jun 03, 2019 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Credit Card - Binding arbitration opt-out?
Replies: 43
Views: 4231

Re: Chase Credit Card - Binding arbitration opt-out?

Why do you believe arbitration provisions will prohibit you from being part of a consumer class action? Because: (1) that is what arbitration provisions provide, and (2) that is the primary reason large corporations mandate you agree to arbitrate any dispute, and give up your right to participate o...
by Chicago60
Fri May 31, 2019 4:39 pm
Forum: Personal Investments
Topic: what to do with small settlement payment?
Replies: 11
Views: 758

Re: what to do with small settlement payment?

You should discuss with your accountant first, and maintain good records of medical expense payments. Depending on the nature of this personal injury, it is possible that the settlement proceeds are not taxable at all. If settlement is in lieu of wages it is taxable. Gill That is one, of many examp...