Search found 2947 matches

by miamivice
Thu Jul 27, 2023 1:10 pm
Forum: Personal Investments
Topic: Prepping for possible early retirement
Replies: 22
Views: 2346

Re: Prepping for possible early retirement

The easy way of figuring out how much your retirement will provide is to use what is called a "safe withdrawal rate" which is a percent of your retirement nest egg. The exact number is debatable, but let's use 4% for this discussion. If we take your approx nest egg of $1,000,000 and multiply it by 4%, you might be able to consume $40,000 per year of your retirement, and never run out. If both of you are retired, this is what you have to cover all of your expenses. That's not a lot of money from my perspective. I am not sure if you own a home, but if you do and need a new roof, you might spend $20,000 in one fell swoop replacing the roof. You say that your current expenses are roughly $60,000 per year. Thus, in order for both of yo...
by miamivice
Thu Jul 27, 2023 12:59 pm
Forum: Personal Consumer Issues
Topic: Password Manager Safety [vs. manual entry]
Replies: 34
Views: 2749

Re: Password Manager Safety

Call_Me_Op wrote: Thu Jul 27, 2023 7:48 am Is it indisputable that use of a good password manager is safer than recording (unique and strong) passwords on a piece of paper (safely stored) and entering the password manually each time one wishes to access a financial website? Seems that both approaches have some risks, and it is not obvious to me which is better. Thoughts?
I don't use a password manager nor do I write them down. I find more and more than I change my password everytime I log into a website (because I forget the password). I suppose that is super secure but it's a pain.
by miamivice
Thu Jul 27, 2023 12:56 pm
Forum: Personal Investments
Topic: Prepping for possible early retirement
Replies: 22
Views: 2346

Re: Prepping for possible early retirement

It sounds like you have something in the ballpark of $1,000,000 assets.

At a safe withdrawal rate, you might be able to pull out $50,000 per year, plus social security after you reach social security age. That doesn't seem like a huge amount. You say you spend about $60,000 per year right now.

You mention that you and your husband may take a couple vacations costing $25,000.

From the numbers above, I'm a bit concerned. I'm not sure that your finances are in a position to look at early retirement.
by miamivice
Thu Jul 27, 2023 11:55 am
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Re: Selling car online - buyer asking for VIN as question #1

Morgan22 wrote: Thu Jul 27, 2023 11:50 am When I was looking for a used car I subscribed for a month of unlimited VIN lookup on CarFax.com. I did this to make sure the car I was interested in wasn't in an accident, or come from a major flood zone region.
If I asked someone for the VIN and someone would not provide it I would think they are hiding something. I would move on.
Thank you. This type of post is what I was looking for - you explained why a buyer might want a VIN number. I wasn't aware that one could buy unlimited carfax lookups for a month or so. I find this type of post to be very helpful.
by miamivice
Thu Jul 27, 2023 11:27 am
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Re: Selling car online - buyer asking for VIN as question #1

I'm happy to provide the VIN number, but not as the first question that a random person asks of me. They should at least ask a few questions. You sound like you have very strong opinions about what strangers should and should not do in asking to buy your 10-year-old car. In any case, it sounds like your mind is made up already, so I am not sure why you are asking the question on a public forum. I have strong opinions that there are a lot of scammers online that try to scam folks who are selling things, and that I need to be guarded in what information I provide and how I interact with others so I don't fall prey to a scam. I think that's simply wise practice, especially when dealing with transactions that start with online messages.
by miamivice
Thu Jul 27, 2023 11:23 am
Forum: Investing - Theory, News & General
Topic: treasury bonds returns higher than AAA corporate bonds [How to achieve returns w/little risk and 6-7% return?]
Replies: 70
Views: 5379

Re: How to achieve returns w/little risk and 6-7% return?

I haven't checked but certificate of deposit might be getting close to 6%. These have virtually no risk.
by miamivice
Thu Jul 27, 2023 9:36 am
Forum: Personal Investments
Topic: Looking for personal finance advice
Replies: 13
Views: 1523

Re: Looking for personal finance advice

1. Save as much as you can.

2. With that said, life is short and you should enjoy it. Don't go overboard, but do enjoy things that are important today even if they cost money.

3. Invest in index funds. (I do 1/3 Large-Cap; 1/3 Mid-Cap; 1/3 Small Cap)

4. I am not sure if you have an HSA, but if you have a high deductible insurance plan and a HSA, max this out prior to any other retirement savings. It's the most tax advantaged account you have access to.
by miamivice
Thu Jul 27, 2023 9:30 am
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Re: Selling car online - buyer asking for VIN as question #1

Thanks all.

I'm still dubious about providing it to random people who don't otherwise have interest in the vehicle, but maybe I should be a little less secreative.

There are a lot of online scams regarding buying/selling products, and I do think I'm correct to have my guard up when trying to buy/sell items.
by miamivice
Wed Jul 26, 2023 11:40 pm
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Re: Selling car online - buyer asking for VIN as question #1

johncunningham wrote: Wed Jul 26, 2023 10:49 pm I have bought and sold several cars privately. It may not matter much for a Corolla. But a serious buyer wants the vin.

For a more special car, which could be as simple as an M3 or really any car with lots of options (a Porsche) the vin should be included in the listing. It’s not a secret. It lets the buyer do his own due diligence without wasting your time with questions.
This car isn't a porsche or an M3. It's a 10 year old car with over 150,000 miles.

I'm happy to provide the VIN number, but not as the first question that a random person asks of me. They should at least ask a few questions. Looking online, it does appear that there are scams out there involving people asking VIN numbers from cars listed for sale online.
by miamivice
Wed Jul 26, 2023 9:28 pm
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Re: Selling car online - buyer asking for VIN as question #1

runner3081 wrote: Wed Jul 26, 2023 9:26 pm I always ask for the VIN right away, so I can independently review Autocheck, etc. No point in wasting my time on a car that I don't want, due to history report.

Share away, it is more or less public info anyways.
I just checked Autocheck, and it appears you can type in the license plate number of the vehicle license plate, which is clearly shown in my ad. No VIN number required.
by miamivice
Wed Jul 26, 2023 9:27 pm
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Re: Selling car online - buyer asking for VIN as question #1

It appears that a Carfax report costs $40. I highly doubt that folks are buying 10 carfax reports on many vehicles that they are looking at, and it would seem to me that they would at least ask one or two questions about the vehicle prior to buying a carfax report for $40.

When I inquired which service they were using to buy the report, they changed the subject and wouldn't answer.

I'm pretty sure these foks are conducting scams of some type, but I don't know of this particular scam.
by miamivice
Wed Jul 26, 2023 9:04 pm
Forum: Personal Consumer Issues
Topic: Selling car online - buyer asking for VIN as question #1
Replies: 39
Views: 7262

Selling car online - buyer asking for VIN as question #1

I'm selling a car online (Facebook Marketplace / Craigslist / etc).

Twice, I have had buyers ask for the VIN number as Question #1. First time I provided it and the prospective buyer ghosted me. Second time I asked what service he would use to purchase the vehicle history report and he said nevermind and then ghosted me.

I can tell there might be some scam going on here, but curious what it is? The VIN isn't super secret. All I can figure is that they are trying to collect VIN numbers to provide to buyers with their own fake ads.
by miamivice
Sun Jul 23, 2023 12:41 pm
Forum: Personal Consumer Issues
Topic: Purchasing a 1kg silver round
Replies: 21
Views: 2954

Re: Purchasing a 1kg silver round

Broken Man 1999 wrote: Sun Jul 23, 2023 12:37 pm I buy from https://www.jmbullion.com, and also https://www.apmex.com/. No issues with either company.

Are you looking for silver bullion, typically referred to as silver rounds, or a silver collectable coin?

Silver rounds will be tied to the spot price (plus markup), unlike silver collectable coins which can sell for a large premium over silver spot price.

Broken Man 1999
Thank you for the websites.

The silver rounds that I would like to buy many people would call coins, hence the markup. Regular bullion is typically in the form of bars, which aren't pretty. I am looking for something that I can display in my den.
by miamivice
Sun Jul 23, 2023 12:14 pm
Forum: Personal Consumer Issues
Topic: Purchasing a 1kg silver round
Replies: 21
Views: 2954

Re: Purchasing a 1kg silver round

OK, so where can I buy one that is not counterfeit?
by miamivice
Sun Jul 23, 2023 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Amica personal injury claim
Replies: 19
Views: 1947

Re: Amica personal injury claim

I'm in the unfortunate position of having suffered from a reckless, uninsured driver who happened to have fled the scene but was later identified. My car was a total loss and I ended up in the er and now have an internal plate and screws holding my clavicle together. My uninsured motorist policy is with Amica. The driver is young and there are likely no other sources of recovery. I am trying to determine whether to work with Amica directly or employ a personal injury attorney. It appears that after all is said and done (attn contingency, case fees and subrogation) I may end up relinquishing roughly half of any settlement. And the process could take a year or more. On the other hand this is an area where I am completely out of my depth so p...
by miamivice
Sun Jul 23, 2023 11:15 am
Forum: Personal Consumer Issues
Topic: T mobile internet ?
Replies: 32
Views: 3861

Re: T mobile internet ?

My parents had a DSL (telephone) line internet at their house that advertised 3 mbps but in reality provided 1 mbps at best. They do not have an alternate provider available besides the landline internet. I finally got tired of visiting them with no internet; websites wouldn't load half of the time. I got the tmobile home internet for them and the speed has increased to 30mbps-100mbps, which is light years ahead of what they used to have.

I fully expect that as more people in their area subscribe, speeds will go down. But for now, they have had zero complaints and it took me less than 30 minutes to get it setup and running.
by miamivice
Sun Jul 23, 2023 11:11 am
Forum: Personal Consumer Issues
Topic: Purchasing a 1kg silver round
Replies: 21
Views: 2954

Purchasing a 1kg silver round

Hello,

I'm receiving a $1050 bonus for opening an account with Fidelity, and have decided that I would like to purchase a 1kg silver round (coin) with this money. It seems the melt value of 1kg silver is right around $800. I can buy silver rounds for about $1100 off Ebay, which is roughly a 30% markup over melt value.

Are there better places that I should look to buy? I do not want silver bars; I do want a silver round (which is like a big coin). I recognize there will be a markup over melt value.

This is a consumptive purchase, not an investment, so let's try not to focus on silver markets. I'm just looking to purchase something with my bonus and think that a big silver coin would be cool. :D
by miamivice
Fri Jul 21, 2023 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: What role has generosity played in your wealth building?
Replies: 160
Views: 13842

Re: What role has generosity played in your wealth building?

The more generous I am with my money, the slower I build wealth.

The less generous that I am with my money, the faster I build wealth.

I'm sure that will upset some folks, but I have a hard time seeing how what I wrote is incorrect.
by miamivice
Fri Jul 21, 2023 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Any concerns with Fidelity-branded checks and/or Credit Card?
Replies: 25
Views: 2450

Re: Any concerns with Fidelity-branded checks and/or Credit Card?

I think that the point about using my phone is a good one, and having a backup card in case I am in an environment where I feel it'd be best to use a more mainstream card.

I do want to consolidate my financials as much as possible because I'm getting tired of passwords and logging into a variety of websites, so the Fidelity Visa makes the most sense to me.
by miamivice
Fri Jul 21, 2023 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Any concerns with Fidelity-branded checks and/or Credit Card?
Replies: 25
Views: 2450

Re: Any concerns with Fidelity-branded checks and/or Credit Card?

Anyone else share the same concerns? I would like to use a Fidelity credit card but wish they had a more subtle card. The checks I will use as we use them rarely and if it really bothers me I can buy my own checks that don't scream "Fidelity investor!" With tap to pay, Google/Apple pay on your phone, and credit card machines so prevalent now, who even looks at your credit card anymore? I guess maybe the waiter/waitress in some restaurants, but that's about it. That's a good point. I do use my phone anyplace that takes phones, which is most everywhere now. I definitely don't dig my card out nearly as often. Speaking of phones, a couple years ago when it was a new thing, I did have one person waive at me when I went to tap the phon...
by miamivice
Fri Jul 21, 2023 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Any concerns with Fidelity-branded checks and/or Credit Card?
Replies: 25
Views: 2450

Any concerns with Fidelity-branded checks and/or Credit Card?

I'm working on moving all of my financials to Fidelity. Just received my first set of free checks (that will probably last 10 years since we rarely use those anymore) and considering a Fidelity credit card. Both of these are branded in the highly visible Fidelity logo and color scheme, and scream "I am an Fidelity investor!" I'm not sure I want to advertise to the world that I keep investments with Fidelity. I tend to be quite private regarding my investment financials, because not everyone has the financial resources to have accounts at Fidelity, Vanguard, etc, and I don't really see a need to advertise that I have sufficient financial resources to have accounts at Fidelity. Anyone else share the same concerns? I would like to us...
by miamivice
Wed Jul 19, 2023 10:16 am
Forum: Personal Consumer Issues
Topic: Tablet with excellent camera
Replies: 13
Views: 1164

Re: Tablet with excellent camera

Just saw an advert for a Google Pixel Fold.

It supposedly has a good camera and unfolded will work similar to a tablet.

I'm going to use my traditional SLR camera for my particular need, but in 6 months I might upgrade to the Pixel Fold as the reviews come in.
by miamivice
Tue Jul 18, 2023 8:58 am
Forum: Personal Consumer Issues
Topic: Tablet with excellent camera
Replies: 13
Views: 1164

Re: Tablet with excellent camera

Thanks all.

Update: Figured out the best option for me: Samsung Z Fold!
by miamivice
Mon Jul 17, 2023 9:01 pm
Forum: Personal Consumer Issues
Topic: Tablet with excellent camera
Replies: 13
Views: 1164

Tablet with excellent camera

I need to buy a tablet (ipad, equivalent) with an excellent camera.

I looked quickly online and saw a 10th generation iPad for about $500. But it only has one camera, and my cell phone has three. Is there a better tablet out there that I might want to consider instead? I would prefer the Android product over iOS but anything will do. I need the tablet to look at PDFs and take pictures.

I haven't shopped for tablets for many years.
by miamivice
Mon Jun 19, 2023 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Land Purchase Sanity Check
Replies: 62
Views: 5165

Re: Land Purchase Sanity Check

Looking for a sanity check on possibly purchasing land in NW Montana (~40 min north from Kalispell, MT downtown). This would eventually be the site for a primary residence. List price: $550,000 Lost size: 20.48 acres Current future build budget: $600,000 - $800,000 Lending parameters: - 30% down payment required + closing costs = ~$170,000 - 30yr term at a 5yr ARM - Current APR is 7.29% - Monthly payment is ~$2,700 - Rate can only be adjusted +/- 2% every five years - Taxes on land is ~$48/yr Our intent is to buy for eventual construction of primary residence in the next 5 yrs Me age: 33 Base Salary: $135,200/yr VA Comp: $45,876/yr (not taxed) Wife age: 31 Base Salary: $105,000/yr VA Comp: $25,128/yr (not taxed) No kids but plan to start i...
by miamivice
Mon Jun 19, 2023 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Land Purchase Sanity Check
Replies: 62
Views: 5165

Re: Land Purchase Sanity Check

I'd like to politely mention that the income figures in the first post are a little suspect.

The VA compensation is presumably that both people in the first post were disabled during their work in the military. (Thank you for your service). yet, the OP continues to earn $135,000/year at age 33, despite having a permenant disability. That's really amazing. And his spouse makes $105,000 a year, despite her also having a permanent disability.

The OP seems to have no concerns about moving to a very rural place with long, difficult winters, even though he and his spouse are permanently disabled.

If everything that the OP posted is accurate, he should consider himself very fortunate to be in the position that he is in.
by miamivice
Sun Jun 18, 2023 9:28 pm
Forum: Personal Consumer Issues
Topic: How does anyone fly on points anymore? (United especially)
Replies: 115
Views: 12796

Re: How does anyone fly on points anymore? (United especially)

We fly United, but do not have a United or Chase credit card. I typically pay cash for flights, and have (what I thought was) a decent stock of miles from flights we've taken for work and vacation. A couple months ago we were looking at flights to Europe during off season. The number of points required is astronomical, and that's just for coach. Domestic flights aren't much better. And now United just devalued their points further. Does anyone find value in points anymore? If so, how and what airline? Obviously you can rack up points with credit card sign up bonuses, but unless you fly a TON for work, or spend 6 figures on a card per year, how do you do it? As a generalization, I decline every rewards program because I find they are struct...
by miamivice
Sun Jun 18, 2023 9:25 pm
Forum: Personal Investments
Topic: 529 “Dilemma”
Replies: 97
Views: 13281

Re: 529 “Dilemma”

GreendaleCC wrote: Sun Jun 18, 2023 9:23 pm
miamivice wrote: Sun Jun 18, 2023 8:46 pm there is plenty of time to rollover your 529 to another firm if you desire.
Oh no…
I'm sorry, but what is technically wrong with what I said?

He says that he put $10,000 into the 529 with a fund of 1.9% expense ratio. This means that he is paying a whopping $190 in expense ratio versus maybe $5 that he could be paying. While less is always good, neither $190 nor $5 is going to make/break his kids college education fund.

You can rollover your 529 at any time.

I'm also very unclear how a financial advisor could sell expensive funds in a 529. Each 529 plan, to my knowledge, is very restricted on which funds are available and none would be the typical funds that a financial advisor would be interested in.
by miamivice
Sun Jun 18, 2023 8:58 pm
Forum: Personal Consumer Issues
Topic: Phuket hotels and resorts
Replies: 2
Views: 449

Re: Phuket hotels and resorts

This isn't particularly recent, but a coworker of mine went there with his mom and dad a while back. His dad paid for lodging, and being cheap, his dad rented a place well inland because they cost less. My coworker was a little annoyed at the time that they didn't rent a beachfront house.

He went there, and then the tsuanmi hit that killed 230,000 people. Tourists who were sleeping/resting near the beach died. My coworker, since he was staying at a place well inland and elevated, survived just fine.

While I am not making any recommendations for you, something worth considering.
by miamivice
Sun Jun 18, 2023 8:53 pm
Forum: Personal Investments
Topic: Two fund portfolio?
Replies: 12
Views: 2788

Re: Two fund portfolio?

I think a one fund portfolio is fine.

I don't use a one fund portfolio (generally) myself, I choose a three fund portfolio of the following:

1/3 Vanguard 500
1/3 Vanguard Mid-Cap
1/3 Vanguard Small-Cap

It's a game of random chance as to what performs the best. I don't think it really matters whether you use a 1 fund, 2 fund, or 3 fund portfolio. By "matters", I mean I don't think that anyone can predict reliably in advance which combination will perform the best.
by miamivice
Sun Jun 18, 2023 8:46 pm
Forum: Personal Investments
Topic: 529 “Dilemma”
Replies: 97
Views: 13281

Re: 529 “Dilemma”

My wife and I used her family’s FA prior to me really getting engaged with this stuff over the last year. We started a 529 with this FA through CT’a program, using the advisor program. I was unaware of the difference at the time and he neglected to explain any ring regarding this matter (this same guy also sold my in-laws, both doctors fyi, an annuity, LTC insurance and whole life policies). My older child is 20 months old, and that is the 529 I am referencing. We put 10K per year for tax purposes (get a $650 discount on state taxes) into the 529. I just looked at the prospectus and the expense ratio is 1.98, which is ridiculous to me. Over time this has significant consequences as you know, especially if we going to carry over to other ge...
by miamivice
Sun Jun 18, 2023 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Land Purchase Sanity Check
Replies: 62
Views: 5165

Re: Land Purchase Sanity Check

Me age: 33 Base Salary: $135,200/yr VA Comp: $45,876/yr (not taxed) Wife age: 31 Base Salary: $105,000/yr VA Comp: $25,128/yr (not taxed) I'm a little late to the party, but I'm not quite following something. Your family income totals $310,000 a year. Since your basing your ability to buy this land and build a house on this number, it appears that you are assuming you can move to rural Montana (1 hour drive to the nearest "city" which is Kalispell with a population around 26,000) and continue earning 310,000 per year. For comparison, my wife and I live in a major metro area and have very good jobs for the metro area that we live in, yet our family income is 1/3 less than yours. Perhaps you are doing internet based work, but your ...
by miamivice
Sun Jun 18, 2023 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Dramatically improving insurance coverage
Replies: 15
Views: 1897

Re: Dramatically improving insurance coverage

I think there are some valid points above. The most valid point is the effect of claims on future insurance rates. Likely, I increased my coverage in a moment of weakness.

I think a better (more Boglehead) strategy is to take the money that I save from higher insurance premiums and set it aside into a "self-insurance" fund with Fidelity, and invest that money in Vanguard Total Stock Market Index. Then, should I need it to pay for an insurance claim (whether real need or more likely my perception of need) then I use that money to pay for the repair, guilt free.

More than likely, I'll accure enough in that account to cover the high deductible.

I think I'd win in the long run, and also be able to maintain my cars.

Thanks all.
by miamivice
Fri Jun 16, 2023 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate: Selling below appraised value, tax implications?
Replies: 18
Views: 2097

Re: Real Estate: Selling below appraised value, tax implications?

In Washington, there is a 2% excise tax that must be paid on property at time of sale. You'll want to look into how this excise tax will apply to your proposed situation.

The state doesn't want you to avoid paying the excise tax, but I am not sure how that will work for this situation.
by miamivice
Fri Jun 16, 2023 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate: Selling below appraised value, tax implications?
Replies: 18
Views: 2097

Re: Real Estate: Selling below appraised value, tax implications?

CAsage wrote: Fri Jun 16, 2023 11:00 am One tax consequence is that their cost basis will be lower, so their net gain when they sell will be higher, but it's still a win for them. And their property taxes will be lower. I will note that the appraised value isn't actually a legal public thing, and houses that need work, or are out of date, or neglected (none of which are concrete assessments) can sell for less, especially if you aren't going through a broker.
Their property taxes are not based on the purchase price of the property but based on the assessed value. Assessed value is collected from a variety of similar properties. Thus, they will not receive lower property taxes as a result of buying the property less than assessed value.
by miamivice
Fri Jun 16, 2023 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Dramatically improving insurance coverage
Replies: 15
Views: 1897

Dramatically improving insurance coverage

I'm looking at dramatically improving insurance coverage on my vehicles. Current: $1000/incident deductible for Collison and comprehensive No rental car when vehicle is in repair for shop Option: $0/incident deductible for collison and comprehensive $50/day rental car assistance (pays for economy rental car) while car is in shop. Cost for the improved coverage is $600/year. We've been fortunate (knock on wood) to not have serious accidents since 2004, but have had a few owies. Things like backing into a pole in a parking garage, or a random rock hitting the windshield which immediately ran. One time I drove past some woody brush that scratched the paint. I fully recognize that the insurance company will likely profit off of extra insurance ...
by miamivice
Wed Jun 14, 2023 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for new vehicle
Replies: 33
Views: 3330

Re: How to pay for new vehicle

Got the car. Decided to finance it with a manufacturer loan (around 4% interest rate). Then I will setup automatic liquidating of stock from my taxable account and direct pay the loan from my Fidelity account, so it will be handled in the background without impacting my paycheck cash flow. The loan period is 3 years (interest rates climb a lot beyond 3 years) and I will try to get it paid off in 1-2 years if possible. I'm thrilled to have a new car. It's the first new car that I ever bought (it had 6 miles on the odometer when I drove it off of the lot) and a fine vehicle for me to drive. Of course, I cringe at the cost but I'm in a position to afford such a car. I chose to decline the extended warranty. $3000 doesn't seem too bad, but I k...
by miamivice
Wed Jun 14, 2023 9:52 am
Forum: Personal Investments
Topic: Help me dump my reddit stocks
Replies: 28
Views: 4522

Re: Help me dump my reddit stocks

Hold on.

Had he bought Vanguard Total Stock Market Index 2 years ago (November 2021), it would be showing losses as well. Would all of you suggest he sell Vanguard Total Stock Market Index? That is simply taking unrealized losses and converting them to real losses.

I would need to know the names of the companies that he is invested in and the date of acqusition before providing real advice as to whether to sell today or wait until the stock market is doing better before selling.
by miamivice
Wed Jun 14, 2023 9:37 am
Forum: Personal Finance (Not Investing)
Topic: How to pay for new vehicle
Replies: 33
Views: 3330

Re: How to pay for new vehicle

Got the car. Decided to finance it with a manufacturer loan (around 4% interest rate). Then I will setup automatic liquidating of stock from my taxable account and direct pay the loan from my Fidelity account, so it will be handled in the background without impacting my paycheck cash flow. The loan period is 3 years (interest rates climb a lot beyond 3 years) and I will try to get it paid off in 1-2 years if possible. I'm thrilled to have a new car. It's the first new car that I ever bought (it had 6 miles on the odometer when I drove it off of the lot) and a fine vehicle for me to drive. Of course, I cringe at the cost but I'm in a position to afford such a car. I chose to decline the extended warranty. $3000 doesn't seem too bad, but I kn...
by miamivice
Tue Jun 13, 2023 3:32 pm
Forum: Personal Consumer Issues
Topic: Surge protectors and UPS
Replies: 20
Views: 2055

Re: Surge protectors and UPS

UPSs are excellent surge protectors and do not need separate surge protection.
by miamivice
Tue Jun 13, 2023 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for new vehicle
Replies: 33
Views: 3330

Re: How to pay for new vehicle

Each of my threads should be read individually. They do not form a neat book with a neat story that makes sense beginning to end.

I'm not overspending but rather oversaving. I've reduced the oversaving and also picked up a side hustle which will provide extra cash.

You could say that I'm spending my side hustle money on a new car, which is probably right. I think I'm arriving at the inflection point where I should worry less about saving for the future and more about spending today.
by miamivice
Tue Jun 13, 2023 3:19 pm
Forum: Personal Consumer Issues
Topic: Surge protectors and UPS
Replies: 20
Views: 2055

Re: Surge protectors and UPS

UPSs are very good surge protectors. You have no need to plug a surge protector into a UPS.
by miamivice
Tue Jun 13, 2023 2:59 pm
Forum: Personal Consumer Issues
Topic: Surge protectors and UPS
Replies: 20
Views: 2055

Re: Surge protectors and UPS

In general, surge protectors (as well as UPS's) have gone out of style. The power transformer in laptop power bricks provides reasonable protection against power surges, and the battery in the laptop keeps the computer humming even if the power goes out.

I'm sure that many will say surge protectors are still vital, but I have not heard of computers getting damaged by power surges in many years. At my office at work, we don't have individual surge protectors for every laptop.
by miamivice
Tue Jun 13, 2023 10:36 am
Forum: Personal Investments
Topic: Need help to simplify funds in Traditional and Roth IRAs after taking over from a financial advisor
Replies: 34
Views: 2954

Re: Need help to simplify funds in Traditional and Roth IRAs after taking over from a financial advisor

I would sell everything, today, and buy 3 funds:

1/3 Large Cap Index
1/3 Mid Cap Index
1/3 Small Cap Index

I don't have the fund names for the above handy, but they are easy to find.
by miamivice
Tue Jun 13, 2023 10:31 am
Forum: Personal Finance (Not Investing)
Topic: How to pay for new vehicle
Replies: 33
Views: 3330

Re: How to pay for new vehicle

Half a million dollars is a lot of money in a taxable account. Is that all you have saved, or do you have tax-sheltered savings? If you have a solid retirement net egg, then spend the taxable money: isn't that what it's for? Otherwise, why is it there? Yes, you are exactly correct...the taxable money is for me to spend during my life prior to retirement. My retirement accounts are in good shape ($1.3 million in various retirement accounts, plus my wife and I both will have pensions in addition to social security). I think the trouble people have with loans is that there is a perception that loans are for people who cannot afford to pay up front. In my case, it's more of a business decision to accept a 4% loan to keep the money in the stock...
by miamivice
Tue Jun 13, 2023 10:04 am
Forum: Personal Finance (Not Investing)
Topic: How to pay for new vehicle
Replies: 33
Views: 3330

Re: How to pay for new vehicle

Admiral wrote: Tue Jun 13, 2023 10:01 am Well, what's the math say? Is the LTCG =/> the interest you'd pay on the 4% loan? It depends on the amount of stock sold and the amount financed. If it's cheaper to finance, then do that.
The interest on the loan is minimal at 4%. My investments have historically have had returns of 10% per year, so a 4% loan is much cheaper than liquidating investments that perform around 10%.

I'm thinking that I will try a loan. I'm not sure if they will give me one or not, but it's worth a try. If I don't qualify for a loan, then I will pay via my taxable account. (The issue with qualification is not credit, but rather, it's income versus existing loans. I have a mortgage and another car loan; I'm not sure I can get 2 car loans. But I will try.)
by miamivice
Tue Jun 13, 2023 9:44 am
Forum: Personal Investments
Topic: Financial check-up
Replies: 14
Views: 2144

Re: Financial check-up

OK, now that you have added the house value, your assets have gone from a -200k to a +600k, which is comparable to where I was at when I was your age. I think you are doing fine.
by miamivice
Tue Jun 13, 2023 9:43 am
Forum: Personal Finance (Not Investing)
Topic: How to pay for new vehicle
Replies: 33
Views: 3330

How to pay for new vehicle

I've decided to purchase a new vehicle, and sell my old one that is currently in the collision shop being repaired. I'm trying to decide how to pay for it. Purchase price ~ $42,000 Likely sale price of existing vehicle: $10,000 Options are: 1) I can liquidate non-retirement stocks to pay for it. Currently, I have $585k of non-retirement assets (often called taxable) that are available for liquidation. I would have to pay ltcg on the investments if liquidated. 2) I can take out a car loan. The manufacturer offers a 4% loan rate. I can then either liquidate stock from my non-retirement account to pay off the loan each month, or if income allows, use ordinary income to pay loan. 3) Other options? I'm not real keen on loans but also not real ke...
by miamivice
Mon Jun 12, 2023 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: My Experience at Fidelity after 1 week
Replies: 51
Views: 8144

Re: My Experience at Fidelity after 1 week

I've traveled internationally on many occasions with only a credit card. Few places decline to take credit cards nowadays.

Regardless, we're getting off topic here. I said that Fidelity covers 80% of my banking needs. I will continue to maintain accounts at my local credit union for the 20% that are not handled by Fidelity.