Search found 488 matches

by gclancer
Mon Sep 17, 2018 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Provding SSN for Estate Planning--Why?
Replies: 22
Views: 1609

Re: Provding SSN for Estate Planning--Why?

I agree he'll almost certainly need it at some point if he's engaged to to the work. But the poster was asking about "the first consultation (but not formal) meeting". I was seconding Steelersfan’s suggestion that OP simply leave that field bank (DOB as well if that makes you nervous - another post...
by gclancer
Mon Sep 17, 2018 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Options/Suggestions.
Replies: 95
Views: 8873

Re: Side Hustle Options/Suggestions.

For guaranteed no cost income I would focus on churning bank account bonuses, brokerage account bonuses, and credit cards. For someone who hasn’t done anything yet you should be able to make $10k-$20k over 2 years if you take it seriously. +1 this should be side hustle #2 in addition to whatever el...
by gclancer
Mon Sep 17, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Provding SSN for Estate Planning--Why?
Replies: 22
Views: 1609

Re: Provding SSN for Estate Planning--Why?

Leave it out for now, and when you meet with the attorney if s/he has a good reason for needing it you can fill it in then. There are scenarios where it would be helpful for the attorney to have your SSNs but if you refuse to provide it they’ll still prepare your estate plan. Asking doesn’t reflect...
by gclancer
Mon Sep 17, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life vs Universal Life Insurance
Replies: 30
Views: 1554

Re: Whole Life vs Universal Life Insurance

Are you married? Do you have children? Why do you think you need life insurance? A good place to start for comparison shopping would be www.term4sale.com. How much in term life insurance could you get on a 30 year fixed annual premium policy for the same number of premium dollars you’re contemplatin...
by gclancer
Mon Sep 10, 2018 3:22 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Simple Factor Investing
Replies: 46
Views: 4292

Re: Larry Swedroe: Simple Factor Investing

Lots of different funds one can use and to find factor loadings just use www.portfoliovisualizer.com and/or can also look at portfolio metrics on M* Given the tenor of your article I’m surprised you didn’t address DFA’s global equity mutual fund (DGEIX) that is a fund-of-funds holding the DFA core ...
by gclancer
Wed Aug 29, 2018 2:52 pm
Forum: Personal Consumer Issues
Topic: Negotiating with XM
Replies: 27
Views: 2575

Re: Negotiating with XM

I always call a few days before my promo rate expires, to avoid auto renewal at the full rate. I also always pay with a check, and never use my credit card. This last time around they emailed me a nice reminder that I was going to be billed the full rate in two weeks. I already had it calendered bu...
by gclancer
Wed Aug 29, 2018 2:45 pm
Forum: Personal Consumer Issues
Topic: Shop at Sears?
Replies: 14
Views: 1102

Re: Shop at Sears?

Really? I am not a big fan of BB (though I do occasionally shop there because they are local and sometimes I want to see a product before I buy). That said, their stock chart doesn’t look like that of a dying company to me. Quite a bit different from Sears’ situation, IMO. BBY is most certainly not...
by gclancer
Wed Aug 29, 2018 6:01 am
Forum: Personal Consumer Issues
Topic: Negotiating with XM
Replies: 27
Views: 2575

Re: Negotiating with XM

I love negotiating with XM! The funny thing is, they’ve got a ton of money out of me just by “caving” and giving me the lowest price you can find on Google (about $5 per month) each time I call. They also save me time by not haggling with me too much on the way down. I don’t know why other service p...
by gclancer
Tue Aug 21, 2018 5:55 pm
Forum: Personal Consumer Issues
Topic: Graduate Degree Mistakenly (?) Conferred - What to Do? [solved]
Replies: 76
Views: 7262

Re: Graduate Degree Mistakenly (?) Conferred - What to Do?

Well, you know what the right thing to do is. Consider this: You don't say anything and it's on your resume. You've relied on that to progress in your career. You've raised a family, mentored others, and have a reputation as a trusted solid person. Suddenly, for some probably strange and certainly ...
by gclancer
Mon Jul 23, 2018 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to change one's career in their 40s?
Replies: 88
Views: 8111

Re: Is it possible to change one's career in their 40s?

StevieG72 wrote:
Mon Jul 23, 2018 3:36 pm
I dream of changing careers at times.

Reality is I will stay put, buckle down on saving and retire ASAP.
+1
by gclancer
Sat Jul 14, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Thrift Savings Plan Loan Help/Withdrawl/Tax
Replies: 11
Views: 1012

Re: Thrift Savings Plan Loan Help/Withdrawl/Tax

Trying to help you think creatively about this. Under the new tax law, you have until your next tax return is due (including any extensions, so October 15 of next year) to roll the loan amount into an IRA to avoid penalty. This is NOT the case for your current TSP Loan (assuming you took it out prio...
by gclancer
Wed Jul 11, 2018 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: looking for a new (online) savings account home
Replies: 23
Views: 2127

Re: looking for a new (online) savings account home

Of all of the major options Ally offered the most complete package +1 I optimize everything in my financial life (to an irrational level) and used to rate chase so I’ve had every bank account under the sun. A couple years ago I consolidated everything with Ally since I thought they were the best an...
by gclancer
Tue Jul 10, 2018 8:29 pm
Forum: Investing - Theory, News & General
Topic: $860 Million ETF Trade
Replies: 16
Views: 2156

Re: $860 Million ETF Trade

It is one of the older ETFs I always assumed the reason they charge 9 bps is due to the fact that as a former standard bearer it’s big, liquid and has a bunch of investors with built in gains that would have to pay tax upon sale. A better example is EFA which is honestly a terrible ETF but is also ...
by gclancer
Mon Jul 09, 2018 7:42 pm
Forum: Investing - Help with Personal Investments
Topic: Soon to retire Fed in the TSP
Replies: 20
Views: 1607

Re: Soon to retire Fed in the TSP

Good afternoon, I'm a Federal employee retiring in October 2018 after a 37 year career. All my savings are currently in the TSP G fund. I moved my funds to the G several years ago when the market tanked and never reallocated them when it recovered. Asleep at the switch. In any event, my question is...
by gclancer
Fri Jun 29, 2018 8:02 pm
Forum: Personal Consumer Issues
Topic: Rental Car Damage / Delayed Contact. Opinions?
Replies: 13
Views: 1229

Re: Rental Car Damage / Delayed Contact. Opinions?

Were there any other hail storms in the region in the month after you rented the car? If you didn’t notice any hail damage, what makes you think it occured when you had the car?
by gclancer
Tue Jun 26, 2018 10:42 am
Forum: Personal Consumer Issues
Topic: Family dynamics/in laws/am I being petty?
Replies: 143
Views: 7585

Re: Family dynamics/in laws/am I being petty?

Flip side of the same coin which I think (?) bolsters your argument. We’re the only family with kids on one side, so we usually pay for a babysitter so that dinner can be adults only (and then split the bill from there). Obviously costs us a lot more than everyone else (which admittedly is a tad ann...
by gclancer
Sat May 26, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: work one more year or attend law school
Replies: 67
Views: 5534

Re: work one more year or attend law school

Big Dog wrote:
Fri May 25, 2018 9:26 pm
fwiw: if you have the numbers for a T5 law school, you have the numbers to attend a lower-ranked T14 for a LOT less. The ROI on that is much, much better.
+1
by gclancer
Sun May 13, 2018 9:02 pm
Forum: Investing - Help with Personal Investments
Topic: Is Whole Life Insurance Worth It?
Replies: 54
Views: 4509

Re: Is Whole Life Insurance Worth It?

mortfree wrote:
Sat May 12, 2018 3:24 pm
Term life. Skip whole life.

Insurance is not an investment.

I pay $240 per year for 250k term (20-year policy)
Same age as OP. I pay $405 per year for a million dollar 20 year level premium term life policy. Was once quoted $11,000 annual premium for a million dollar whole policy. Pass.
by gclancer
Sun May 13, 2018 8:56 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Investment Options
Replies: 6
Views: 606

Re: 401K Investment Options

Do you have outside investments? At least while the 401(k) balance represents a smaller percentage of your overall portfolio I would personally go 100% BSPIX and call it a day.
by gclancer
Sun May 06, 2018 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: 529 vs Roth IRA
Replies: 7
Views: 631

Re: 529 vs Roth IRA

You can always take contributions to a Roth IRA out (but not investment gains) tax and penalty free so it is a more flexible investment vehicle than a 529 (that is, you can withdrawal from a Roth or a 529 to pay for college). For that reason (absent exception circumstances) you should contribute $5,...
by gclancer
Sun May 06, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Kay Bailey Hutchison Spousal IRA - more than $5500/year?
Replies: 8
Views: 1719

Re: Kay Bailey Hutchison Spousal IRA - more than $5500/year?

Are either of you covered by a retirement plan at work such as a 401(k)?
by gclancer
Thu May 03, 2018 8:30 pm
Forum: Investing - Help with Personal Investments
Topic: Medically Retired at Age 30 [Saving for Retirement - 100% Disabled Vet]
Replies: 20
Views: 3570

Re: Medically Retired at Age 30 [Saving for Retirement - 100% Disabled Vet]

It sounds like you may be eligible for Combat Related Special Compensation in addition to your VA benefit. CRSC is tax free as well. In order to receive CRSC you have to actually apply for it. More information can be found here: https://www.hrc.army.mil/TAGD/CRSC .
by gclancer
Sat Apr 28, 2018 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k vs. SEP-IRA
Replies: 7
Views: 579

Re: Solo 401k vs. SEP-IRA

PFInterest wrote:
Sat Apr 28, 2018 4:52 pm
Solo 401k. Otherwise no backdoor rIRA.
+1 Solo 401(k) is a no-brainer for you. Check that off the list and on to the next.
by gclancer
Fri Apr 20, 2018 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Got hit with a $2800 Medical bill. Can I negotiate?
Replies: 187
Views: 11436

Re: Got hit with a $2800 Medical bill. Can I negotiate?

Prompt pay discount = 25-30% off. Pay with a 2% cash back credit card to save a bit more. Any time I have a medical bill in excess of $250 or so I get the prompt pay discount. Under $250 I don’t bother in part because I assume they wouldn’t believe I couldn’t afford it but admittedly I haven’t tried.
by gclancer
Fri Apr 06, 2018 1:22 pm
Forum: Investing - Theory, News & General
Topic: What is Megacorp?
Replies: 62
Views: 5137

Re: What is Megacorp?

Jack FFR1846 wrote:
Fri Apr 06, 2018 1:09 pm
Think of Inatrode from Office space.
This is literally what I think of when a poster says they work at Megacorp. My minds eye pictures them in a cubical with three different bosses watching over them.
by gclancer
Fri Apr 06, 2018 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio review - where to put my next dollar of savings?
Replies: 15
Views: 1726

Re: portfolio review - where to put my next dollar of savings?

I will open 2 Traditional IRAs at Ally Bank and contribute $5500 to each before the April 17th deadline for 2017. His Roth 401k (inside retirement plan): $11,180 Her Roth IRA: $5,500 Does that sound right? No. First I would do Roth IRAs for 2017 for you and your spouse instead of Traditional. Espec...
by gclancer
Thu Apr 05, 2018 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio review - where to put my next dollar of savings?
Replies: 15
Views: 1726

Re: portfolio review - where to put my next dollar of savings?

Since you’re in the 15% tax bracket you’re eligible to contribute to a Roth. I would move $11k from your Ally Savings into a Roth IRAs for you and your spouse for 2017 (open a Roth at Ally if you want - it can remain part of your emergency fund since you can withdraw contributions tax and penalty fr...
by gclancer
Sat Mar 31, 2018 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Loan vs. Current Credit Card vs. New Credit Card
Replies: 9
Views: 1319

Re: Personal Loan vs. Current Credit Card vs. New Credit Card

Discover it... First year promo... 0apr for atleast a year... 2% cash back on everything for the first year 10% cash back on quarterly spending categories for the first year Note that the card is actually 1%cb on everything and 5% on rotating quarterly categories... But the promo is they match all ...
by gclancer
Tue Mar 06, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Distribution Question
Replies: 6
Views: 785

Re: HSA Distribution Question

Also, how is it even possible to "keep records sufficient to show that the qualified medical expenses hadn’t been previously paid or reimbursed from another source."? In practice, the IRS auditor will look at your HSA statements for the withdrawal amounts and match them with the EOBs you provide fr...
by gclancer
Tue Mar 06, 2018 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: Help with HSA Investments
Replies: 6
Views: 663

Re: Help with HSA Investments

Sure, it would be nice if the Vanguard funds were still commission free, but SPTM has tracked VTI very closely if you compare the funds at Morningstar, and will likely do the job of giving you the performance of the US stock market. Having to buy SPTM instead of VTI are the types of things I’m pron...
by gclancer
Mon Mar 05, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: $500 gift card, what to do?
Replies: 42
Views: 3604

Re: $500 gift card, what to do?

I've taken gift cars in the form of a Visa or Mastercard and simply applied the full balance to my electric bill. Gill This is the correct answer. Even if your bill is only $200 just pay $500 and wipe the card out so you don’t have to think about it anymore. Then enjoy not getting an electric bill ...
by gclancer
Thu Mar 01, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Big umbrella increase: anyone else's risen dramatically?
Replies: 26
Views: 2791

Re: Big umbrella increase: anyone else's risen dramatically?

Perhaps your insurer is price optimizing your annual premium, it may pay to shop your policies around. https://www.npr.org/2015/05/08/40359823 ... n-cost-you
by gclancer
Thu Mar 01, 2018 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Total International (VXUS) is an inferior choice?
Replies: 10
Views: 3417

Re: Vanguard Total International (VXUS) is an inferior choice?

Your points are all accurate. The argument in favor of VXUS is that it automatically rebalances. VT does as well but you may desire a greater domestic allocation than VT has in which case you’re back to two funds anyway (plus VTI/VXUS has a lower blended expense ratio compared to VT). One important ...
by gclancer
Sun Feb 25, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Citi DoubleCash vs. Paypal (Synchrony)
Replies: 28
Views: 6137

Re: Citi DoubleCash vs. Paypal (Synchrony)

Thanks for the feedback. I think I'm gonna go with the DoubleCash card. My own experiences with PayPal have been less than stellar and I think the extra perks from Citi provide the extra value needed to make it a fairly convincing winner. If you’re just going to have one card I would do Citi Double...
by gclancer
Wed Feb 21, 2018 9:23 pm
Forum: Investing - Help with Personal Investments
Topic: Employee Stock Purchase Plan - is this even valuable/worth it?
Replies: 34
Views: 2835

Re: Employee Stock Purchase Plan - is this even valuable/worth it?

For 5% I would not touch it..... Too much risk of loss for a small discount. I have used ESPP heavily in the past... but at a FAR greater discount with a trailing price. As long as OP remembers to sell ASAP there is essentially no risk of loss (yes the stock could open the next day >5% down from th...
by gclancer
Wed Feb 21, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy
Replies: 6
Views: 780

Re: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy

might as well only use her tIRA, not mine, particularly since mine will have been converted to Roth by mid-2018. I think my 401k would take an incoming rollover, but I want to avoid that if I can because of the lack of flexibility and that 0.15% fee. Does it perhaps makes sense to prioritize conver...
by gclancer
Wed Feb 21, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy
Replies: 6
Views: 780

Re: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy

(so that I at least can do a backdoor Roth if needed) Are you expecting a spike in income? Backdoor Roths don’t become a consideration until your AGI exceeds roughly $189k because you can still make a direct Roth contribution up until that point. So you can continue to use your 401(k) to both stay ...
by gclancer
Wed Feb 21, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy
Replies: 6
Views: 780

Re: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy

I like the plan and it’s well thought out. Regarding step 7, both of you will be able to contribute to a Traditional IRA to zero in on the $101,400 AGI you’re looking for (Traditional IRA deductibility phases out between $101k and $121k Modified AGI which doesn’t account for Traditonal IRA contribut...
by gclancer
Sat Feb 17, 2018 8:13 pm
Forum: Investing - Theory, News & General
Topic: Target Retirement Fund Question
Replies: 20
Views: 1780

Re: Target Retirement Fund Question

Research Vanguard’s structure. The short answer to your question is that they’re the most likely to remain unchanged of any entity currently offering target date retirement funds.
by gclancer
Sat Feb 17, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: When do IRA's stop making sense?
Replies: 37
Views: 3079

Re: When do IRA's stop making sense?

My 401k does NOT allow me to rollover any IRA's into the plan The first thing I would do I make a business case to HR that they should accept incoming rollovers. The case would be that more assets under management generally equals lower prorata fees for everyone so they should be encouraging employ...
by gclancer
Wed Feb 07, 2018 9:16 pm
Forum: Investing - Help with Personal Investments
Topic: Selling a mutual fund to buy an ETF
Replies: 7
Views: 795

Re: Selling a mutual fund to buy an ETF

TropikThunder wrote:
Wed Feb 07, 2018 9:12 pm
A lot of "ifs", I know. :P But if so, that would accomplish what OP wants without ever being out of the market.
+1 that is a lot of ifs but I was going to point the same thing out to OP.
by gclancer
Mon Feb 05, 2018 6:01 am
Forum: Personal Finance (Not Investing)
Topic: Legitimate ways to reduce SE tax to 0?
Replies: 10
Views: 1249

Re: Legitimate ways to reduce SE tax to 0?

Going back to the SE tax which you are trying to avoid since it is 15.3% ($3,672 on joint $24,000 of AGI) +1 to Celia’s entire post - great info in there OP. I’ll focus on the quote above. There is no way to avoid SE tax all together (except not making any money - if you contribute to retirement ac...
by gclancer
Wed Jan 31, 2018 6:15 pm
Forum: Investing - Help with Personal Investments
Topic: Why do many bogleheads feel they can time the housing market but can't time the stock market?
Replies: 63
Views: 5420

Re: Why do many bogleheads feel they can time the housing market but can't time the stock market?

Would be helpful if you linked to some of the threads where timing the housing market is discussed.
by gclancer
Mon Jan 29, 2018 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: IRA type
Replies: 4
Views: 389

Re: IRA type

You don’t provide many details, but unless she has big tax deferred savings that you haven’t mentioned Traditional IRA is almost certainly the way to go. Is she going to retire at 70 with social security as her only income?
by gclancer
Mon Jan 29, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: SEP Rollover Questions
Replies: 16
Views: 850

Re: SEP Rollover Questions

Traditional IRA is probably easier. The only reason to roll the Traditional/SEP IRA into the 401(k) would be if you wanted to do a Backdoor Roth contribution for your wife in the future (it sounds like your income is “lower” since your wife was able to contribute to a Traditional IRA even though sh...
by gclancer
Sat Jan 06, 2018 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Contribute to 401k or pay off fixed 20yr 7.625% HELOC?
Replies: 21
Views: 1474

Re: Contribute to 401k or pay off 7.625% HELOC?

Traditional IRA: 500k Old firm 401k: 50k Current firm 401k: 50k Use emergency fund to pay off HELOC. Does your current 401(k) have good investment options and low expenses? If so, consider rolling your Traditional IRA (and Old firm 401(k) for simplicity even though that’s not actually a necessary s...
by gclancer
Thu Jan 04, 2018 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab New York Municipal Money Market - Paying >5%?
Replies: 3
Views: 860

Re: Schwab New York Municipal Money Market - Paying >5%?

You’re looking at distribution yield. Take a look at the SEC yield which is a more accurate reflection of the fund’s actual yield.
by gclancer
Thu Jan 04, 2018 9:47 pm
Forum: Investing - Help with Personal Investments
Topic: Why do money market and bond funds make up 1% of my 401K, which includes only equities?
Replies: 7
Views: 678

Re: Why do money market and bond funds make up 1% of my 401K, which includes only equities?

That and they typically keep a bit of cash for redemptions when the outflow of cash to investors selling the fund during the day exceeds the inflow of cash from new investors purchasing the fund.