Search found 26 matches
- Mon Oct 10, 2022 4:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Best way to transfer $1million gift from Canada to US
- Replies: 5
- Views: 968
Re: Best way to transfer $1million gift from Canada to US
The cheapest approach would probably be Norbert's gambit: https://www.finiki.org/wiki/Norbert's_gambit
- Tue Nov 02, 2021 11:09 am
- Forum: Personal Finance (Not Investing)
- Topic: Direct deposit from another financial institution (Coinbase) directly to Vanguard
- Replies: 8
- Views: 1124
Re: Direct deposit from another financial institution (Coinbase) directly to Vanguard
The ACH information we have is different for my SS direct deposit v. my wife's SS DD, vs my pension DD, etc. Each is labelled by Vanguard by source Same here. I added a new direct deposit source in the settings that I labeled as Coinbase and then used the provided numbers as (push-only) ACH details. I don't know why Vanguard requires those labels. Maybe they restrict the sender once they received the first deposit? Or maybe it's a legal/contractual requirement as the routing number provided by Vanguard belongs to Chase (who then forward the funds to Vanguard). Using it to push from another financial institution (if allowed) would probably be somewhat of a niche use-case anyway, as most senders also try to pull from ACH for the trial deposi...
- Mon Nov 01, 2021 8:39 pm
- Forum: Personal Finance (Not Investing)
- Topic: Direct deposit from another financial institution (Coinbase) directly to Vanguard
- Replies: 8
- Views: 1124
Re: Direct deposit from another financial institution (Coinbase) directly to Vanguard
I don't think you can manually direct deposit to Vanguard if your's is a brokerage account. You can do a pull to Vanguard but as far as I know it has to originate on the Vanguard side from a bank you've already linked to the Vanguard account. I believe Vanguard has to set up the direct deposit information for things like pensions, SS, etc. Each goes to a unique routing/account number that is NOT the routing/account number on your checks. That is correct. But the direct deposit information that they give you for pensions, SS, etc. also works for regular ACH pushes as long as you don't try to pull from it. So if you use another financial institution that only pushes trial deposits but doesn't try to pull back the total amount afterwards (suc...
- Mon Nov 01, 2021 8:34 pm
- Forum: Personal Finance (Not Investing)
- Topic: Direct deposit from another financial institution (Coinbase) directly to Vanguard
- Replies: 8
- Views: 1124
Re: Direct deposit from another financial institution (Coinbase) directly to Vanguard
I don't know why they call it a "service". You will get an account and routing number. Any kind of ACH deposit can be made to it. When I had a Vanguard account I would use this to accept deposits into my Roth via Zelle from my bank (no account linking verification needed which might have caused issues). I guess the thing that confuses me is that while they give you regular ACH account details the still ask for more detailed information about the sender (instead of just allowing any random sender to send to that account). In addition, they're also not consistent with how they describe that "service". At one place they write "or other recurring payment" at another place they write "A direct deposit source c...
- Sun Oct 31, 2021 10:31 pm
- Forum: Personal Finance (Not Investing)
- Topic: Direct deposit from another financial institution (Coinbase) directly to Vanguard
- Replies: 8
- Views: 1124
Re: Direct deposit from another financial institution (Coinbase) directly to Vanguard
I accidentally posted this into the wrong sub-forum. Looks like I can't delete my posts here. Can a mod please move this to "Personal Investments"? Thanks!
- Sun Oct 31, 2021 10:28 pm
- Forum: Personal Finance (Not Investing)
- Topic: Direct deposit from another financial institution (Coinbase) directly to Vanguard
- Replies: 8
- Views: 1124
Direct deposit from another financial institution (Coinbase) directly to Vanguard
Would it be acceptable to direct deposit manually from another financial institution (Coinbase) directly to Vanguard or is the direct deposit service not a good fit for that? On the direct deposit page Vanguard writes: Automatically have all or part of your paycheck, pension, Social Security, or other recurring payment sent to your Vanguard Brokerage Account. But it's unclear to me what exactly is included in "or other recurring payment". I cash out money from Coinbase in irregular intervals (depending on market conditions up to a couple of times per year) and would prefer to directly send them from Coinbase to Vanguard instead of having to route those transfers through my checking account. For trial deposit verification Coinbase ...
- Sun May 17, 2020 3:02 pm
- Forum: Personal Consumer Issues
- Topic: June vacation
- Replies: 29
- Views: 4257
Re: June vacation
Same here. I'm planning to travel to Europe (Austria) in a couple of weeks and mostly everyone I talk to (in the United States) tells me that's too risky. I can enter Austria because I'm an Austrian citizen. I should be able to re-enter the United States as I'm a permanent resident. The airport in Vienna offers C19 tests on arrival and they are an alternative to the (otherwise) mandatory 2-week quarantine. California has a travel restriction, but as far as I understand the law it doesn't apply to international travel which is regulated at the federal level. The worst thing that could happen is that I need to reschedule my flight back (either because of interruptions in air travel or due to legal changes) and that wouldn't be a major issue a...
- Sat Apr 11, 2020 3:02 pm
- Forum: Personal Investments
- Topic: Actively managed Vanguard Core Bond Fund in taxable account
- Replies: 3
- Views: 574
Actively managed Vanguard Core Bond Fund in taxable account
I understand that with the choice between taxable and tax-deferred accounts a tax-deferred account is usually the better choice for actively managed bonds. Unfortunately I don't have the luxury to put bonds in a tax deferred account, as only a very small fraction of my savings is in 401k / IRA accounts.
Would it be a bad idea to hold Vanguard's Core Bond Fund in a taxable account if I'm ok with a moderate increase in taxes? Or are actively managed bond funds tax-inefficient enough that they should always be avoided in taxable accounts?
Would it be a bad idea to hold Vanguard's Core Bond Fund in a taxable account if I'm ok with a moderate increase in taxes? Or are actively managed bond funds tax-inefficient enough that they should always be avoided in taxable accounts?
- Thu Mar 12, 2020 1:07 pm
- Forum: Personal Investments
- Topic: Why did Muni funds crash today?
- Replies: 17
- Views: 2059
Why did Muni funds crash today?
The Vanguard Tax-Exempt Bond ETF crashed today by 6%. What's the reason behind this? Are investors concerned that municipalities might go bankrupt because of the virus?
I'm usually a fan of "stay the course" and just rebalanced some of my bonds back into stocks to stay at my target allocation. But given that 100% of my bonds are munis this crash just invalidated my assumption that muni bonds should be relatively safe in a stock market crash. I'm currently trying to figure out if it makes sense to sell my remaining muni bonds and trade them for another bond fund (not because they crashed, but because my risk assumption about them was obviously wrong).
I'm usually a fan of "stay the course" and just rebalanced some of my bonds back into stocks to stay at my target allocation. But given that 100% of my bonds are munis this crash just invalidated my assumption that muni bonds should be relatively safe in a stock market crash. I'm currently trying to figure out if it makes sense to sell my remaining muni bonds and trade them for another bond fund (not because they crashed, but because my risk assumption about them was obviously wrong).
- Sat Sep 21, 2019 8:14 pm
- Forum: Investing - Theory, News & General
- Topic: Robinhood: 3 fund portfolio?
- Replies: 42
- Views: 6506
Re: Robinhood: 3 fund portfolio?
Robinhood only supports FIFO and doesn't support tax lots. This makes tax loss harvesting and (tax efficient) rebalancing pretty much impossible.
- Tue Jan 08, 2019 8:15 pm
- Forum: Personal Finance (Not Investing)
- Topic: Health insurance informs me after procedure that they won't cover all of it
- Replies: 20
- Views: 1921
Health insurance informs me after procedure that they won't cover all of it
Based on the referral of my doctor I had an endoscopy done at a local in-network hospital. At the pre-op appointment the doctor told me that the procedure will be under anesthesia (he didn't ask me if I prefer / not prefer anesthesia). After the pre-op appointment I talked with the billing department and asked told me that Dollar amount that's going to be due after the procedure (the total amount not covered by insurance). Now two months later I just received a letter from my insurance telling me that it includes a copy of the letter that they sent to my provider and that no action from me is required. The letter to my provider states that the "physician consultant" reviewed the information and that according to their medical poli...
- Sun Nov 11, 2018 12:29 pm
- Forum: Personal Investments
- Topic: Does the order date or the execution date count when calculating wash sales?
- Replies: 1
- Views: 322
Does the order date or the execution date count when calculating wash sales?
I'm planning to exchange one mutual fund for another mutual fund on Vanguard. I placed the order on Saturday so it will execute on Monday. If I would exchange the fund before Monday it would count as a wash sale. I'm pretty sure the execution date is what's relevant here, but given this is a larger sum of money it would be great if someone could confirm that.
- Sun Jun 18, 2017 8:52 pm
- Forum: Personal Investments
- Topic: What Is The Right Amount For An Emergency Fund?
- Replies: 26
- Views: 5632
Re: What Is The Right Amount For An Emergency Fund?
Depends a lot on your actual situation.
For me the right amount is very close to zero (basically just enough so that I don't need to keep track when direct debits arrive). For short-term emergencies I can easily use my credit cards (I don't keep a balance and have relatively high limits - my combined CC limits are much larger than my expenses in one full year). For longer-term emergencies I'm fine liquidating some assets (as I only recently moved to the US most of my assets are in taxable accounts from which I can withdraw without penalty).
For me the right amount is very close to zero (basically just enough so that I don't need to keep track when direct debits arrive). For short-term emergencies I can easily use my credit cards (I don't keep a balance and have relatively high limits - my combined CC limits are much larger than my expenses in one full year). For longer-term emergencies I'm fine liquidating some assets (as I only recently moved to the US most of my assets are in taxable accounts from which I can withdraw without penalty).
- Mon Feb 20, 2017 7:57 am
- Forum: Personal Finance (Not Investing)
- Topic: TaxAct still not importing stock data
- Replies: 32
- Views: 8394
Re: TaxAct still not importing stock data
Any rate, this delay in being able to import directly from the few brokerages (limited functionality in my view, even in past years) or more importantly in CSV format is unacceptable. Fully agree. This year is the first year where I'm doing my own taxes (previously used a tax preparer as my return is somewhat complex) and signed up for both TurboTax and TaxAct. Would really have preferred TaxAct, as it's much easier to directly edit form data than with TurboTax (where you have to reverse engineer which question leads to which form output). However, I'm definitely not going to manually enter al of my transactions one by one. Not having a broker import is bad enough, but not having any import capability at all is definitely a no-go. Also tho...
- Thu Jan 19, 2017 5:45 am
- Forum: Personal Finance (Not Investing)
- Topic: Never had a credit card, should I get one?
- Replies: 70
- Views: 5367
Re: Never had a credit card, should I get one?
Credit cards "reward" at 2% and charge interest at 14%. If you screw up just once and get that 14% hit, it takes many 2% rebates to make up for it! Your putting yourself through this over $350 - $400 a year. If the money is that important to you cut some grass, shovel some snow, take an extra shift at work. But don't give in a get a credit card. How do you define "mess up"? Forget to pay? Tempted to carry a balance? I don't see the slightest problem of having a credit card as long as you have a little bit of self-control. Having a credit card is one decision, deciding to carry a balance is a completely separate decision. I use my credit card whenever possible (due to the 2% cashback) but I just set it to autopay and nev...
- Sat Dec 03, 2016 11:18 am
- Forum: Non-US Investing
- Topic: What happens to my ROTH IRA with Betterment when my green card expires?
- Replies: 11
- Views: 2933
Re: What happens to my ROTH IRA with Betterment when my green card expires?
The expiry date on your greencard doesn't affect your permanent resident status. It just tells you how long the physical card is valid and it's usually easy to just request another card. That said, once if you leave the country for too long (especially if you leave it longer for more than a year at a time) the US will probably revoke your permanent resident status. This also implies that as long as you're holding the permanent resident status you're still required to declare and pay taxes on your worldwide income, even if you're residing outside the US. However, you can exclude some of the foreign income and there are also tax treaties which might allow you to reduce the amount of tax owed to the US. If you plan to come back to the US at a ...
- Wed Apr 06, 2016 11:22 am
- Forum: Personal Finance (Not Investing)
- Topic: Vanguard and Backdoor Roth on 1099-R
- Replies: 4
- Views: 3562
Re: Vanguard and Backdoor Roth on 1099-R
Thanks for all the responses!
Am I correct in my assumption that:
Am I correct in my assumption that:
- Because I already filed my original return it doesn't make a difference if I file the amended return before or after the tax deadline.
- Also it doesn't make sense to file for an extension, as this would only apply in cases where I didn't file the return yet.
- Mon Apr 04, 2016 1:49 am
- Forum: Personal Finance (Not Investing)
- Topic: Vanguard and Backdoor Roth on 1099-R
- Replies: 4
- Views: 3562
Vanguard and Backdoor Roth on 1099-R
At the beginning of 2015 I: Contributed to my Vanguard Traditional IRA for 2014 Converted that IRA to a Roth IRA Contributed to my Vanguard Traditional IRA for 2015 Converted that IRA to a Roth IRA (again) As far as I understand the tax laws I need to: File a 8606 for 2014 that shows the 2014 non-deductible IRA contribution (should have already done this last year) File a 8606 for 2015 that shows the 2015 non-deductible IRA contribution and the two Roth conversions The 1099 that I got from Vanguard for 2015 shows an IRA distribution with the total amount of the two Roth IRA conversions using the status code 2. My tax advisor told me that there's something wrong with the form as it only shows a fully taxable distribution with an exemption fr...
- Sun Nov 16, 2014 3:18 pm
- Forum: Personal Finance (Not Investing)
- Topic: Citi Double Cash
- Replies: 5
- Views: 2077
Re: Citi Double Cash
Mine arrived yesterday. Only things I don't like about it are:
1) Citi doesn't appear to provide realtime alerts for transactions. I configured both my Amex and Chase accounts to automatically send me an email when a transaction happens. But I didn't find a way to set this up with Citi.
2) Citi's credit card website is broken in Chrome and several settings can't be changed while using Chrome (switching to Firefox works). Really? It's 2014 - I'd expect one of the largest banks in the world to be able to maintain a website.
1) Citi doesn't appear to provide realtime alerts for transactions. I configured both my Amex and Chase accounts to automatically send me an email when a transaction happens. But I didn't find a way to set this up with Citi.
2) Citi's credit card website is broken in Chrome and several settings can't be changed while using Chrome (switching to Firefox works). Really? It's 2014 - I'd expect one of the largest banks in the world to be able to maintain a website.
- Sun Nov 16, 2014 3:13 pm
- Forum: Personal Finance (Not Investing)
- Topic: Why did my bank send me a W9 form?
- Replies: 1
- Views: 3137
Why did my bank send me a W9 form?
I've been using the same bank for my checking account since I moved to the United States a little bit over 3 years ago (USAA). Also I only have a checking account at that bank. Yesterday that bank sent me a W9 form (an official form that basically asks for my TIN or SSN) although the bank already has my SSN. Why would a bank suddenly (after 3 years) ask for that form? I found some online postings about similar cases with other banks, but I didn't find any possible reasons for requesting such a form. Does this happen randomly, or is this triggered by any "suspicious" behavior or something on my side? I recently moved a very large 6-digit amount from Wealthfront to Vanguard and used my checking account for this as I couldn't do any ...
- Wed Oct 15, 2014 12:44 am
- Forum: Personal Investments
- Topic: Does "substantially identical" apply to combined securities?
- Replies: 31
- Views: 2988
Re: Does "substantially identical" apply to combined securit
Thanks for all the detailed answers!
As there were some questions of what I'm trying to do / why I'm doing this: I'm currently using Wealthfront, but want to move to a 4-stock "lazy portfolio" on Vanguard. I could in theory in-kind transfer Wealthfront's ETFs to Vanguard, but I'd prefer to sell VEA and VWO (ETF) and buy VTIAX (mutual fund) instead (not because of TLH, but because I'd like to keep my Vanguard portfolio simple). Based on the answers I've got I'm probably going to risk that transaction, with the understanding that there's a small chance that the IRS will consider this a wash sale.
As there were some questions of what I'm trying to do / why I'm doing this: I'm currently using Wealthfront, but want to move to a 4-stock "lazy portfolio" on Vanguard. I could in theory in-kind transfer Wealthfront's ETFs to Vanguard, but I'd prefer to sell VEA and VWO (ETF) and buy VTIAX (mutual fund) instead (not because of TLH, but because I'd like to keep my Vanguard portfolio simple). Based on the answers I've got I'm probably going to risk that transaction, with the understanding that there's a small chance that the IRS will consider this a wash sale.
- Mon Oct 13, 2014 11:20 pm
- Forum: Personal Investments
- Topic: Any reason not to buy the International Bond Index Fund?
- Replies: 15
- Views: 4836
Any reason not to buy the International Bond Index Fund?
The "standard" 3 fund portfolio contains US and international stocks, but only US bonds. Is there any good reason to not split bonds in 50% US and 50% international (except for the somewhat higher fees for international bonds)?
In particular I'm thinking about the following allocation:
35% Vanguard Total Stock Market Index Fund VTSAX
35% Vanguard Total International Stock Index Fund VTIAX
15% Vanguard Total Bond Market Index Fund VBTLX
15% Vanguard Total International Bond Index Fund VTABX
In particular I'm thinking about the following allocation:
35% Vanguard Total Stock Market Index Fund VTSAX
35% Vanguard Total International Stock Index Fund VTIAX
15% Vanguard Total Bond Market Index Fund VBTLX
15% Vanguard Total International Bond Index Fund VTABX
- Mon Oct 13, 2014 11:15 pm
- Forum: Personal Investments
- Topic: Does "substantially identical" apply to combined securities?
- Replies: 31
- Views: 2988
Does "substantially identical" apply to combined securities?
Does "substantially identical" in the wash sale regulations only apply to individual securities, or also to "combined" securities?
Let's assume that there's an International Stock ETF that includes developed markets and emerging markets. Instead of buying this International Stock ETF I could also buy a Developed Market ETF and an Emerging Market ETF individually.
Would "substantially identical" apply to the combination of the Developed Market ETF and the Emerging Market ETF if I sell both at the same time and replace them with the International Stock ETF?
Let's assume that there's an International Stock ETF that includes developed markets and emerging markets. Instead of buying this International Stock ETF I could also buy a Developed Market ETF and an Emerging Market ETF individually.
Would "substantially identical" apply to the combination of the Developed Market ETF and the Emerging Market ETF if I sell both at the same time and replace them with the International Stock ETF?
- Sun Oct 12, 2014 11:43 pm
- Forum: Personal Investments
- Topic: Schwab or Vanguard for account when living abroad?
- Replies: 7
- Views: 2346
Re: Schwab or Vanguard for account when living abroad?
Thanks! I wouldn't have realized that. Yes - there's a net gain on VTI, so it appears that I can buy all of those funds immediately.
- Sun Oct 12, 2014 11:23 pm
- Forum: Personal Investments
- Topic: Schwab or Vanguard for account when living abroad?
- Replies: 7
- Views: 2346
Re: Schwab or Vanguard for account when living abroad?
Thanks for the responses! So I've decided to sell my Wealthfront portfolio (tax isn't an issue here as I opened it at the beginning of the year and it's only something like +3%) and buy a variation of the 3 fund lazy portfolio instead (adding international bonds to the mix). Due to wash sale regulations I won't be able to immediatelly buy VTSAX, as I have the ETF version in my Wealthfront portfolio, but I should be able to buy all the other funds (for international stocks Vanguard doesn't use VTIAX, but splits it up into VEA and VWO). My plan: 35% Vanguard Total Stock Market Index Fund VTSAX 35% Vanguard Total International Stock Index Fund VTIAX 15% Vanguard Total Bond Market Index Fund VBTLX 15% Vanguard Total International Bond Index Fun...
- Wed Oct 08, 2014 11:58 pm
- Forum: Personal Investments
- Topic: Schwab or Vanguard for account when living abroad?
- Replies: 7
- Views: 2346
Schwab or Vanguard for account when living abroad?
I'm currently permanent resident in the United States and have no intentions of moving back to my home country (Austria) or of giving up that status. Currently I hold most of my net worth in a Wealthfront account, but due to the recent discussions about brokers that close the accounts of expats I've started to look into what would happen if I ever decided to move back to my home country. Wealthfront told me that I wouldn't be able to keep my account as a non-resident. So I'd definitely like to move my money away from there to avoid having to sell everything at once in case I decide to move to another country. I could use an ACAT transfer for some of the funds, but I'd rather use a broker where I wouldn't have to move away at some future poi...