Search found 10686 matches

by student
Mon Mar 18, 2024 7:41 am
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 11118

Re: Can I retire with $1.75M at age 43?

OP you seem to have covered all aspects and the numbers say you can retire. I don't know whether you have considered the possibility of having a family and kids.
by student
Fri Mar 15, 2024 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Older jobless sibling with a daughter and an inheritance - thoughts on managing it
Replies: 31
Views: 2719

Re: Older jobless sibling with a daughter and an inheritance - thoughts on managing it

IRAs are only available to those with earned income, so they aren’t an option. And they are just a way to hold investments, they are not investments themselves. Not true. I dump money into my IRA every year straight from the bank, money which my brokerage has no clue if it was "earned" or not. And they absolutely are (or can be) investments. With the money I dump in, I buy mutual funds/ETFs. That said, and the more I think about it, I don't think I would suggest anything more than a CD or high-yield savings account....perhaps a simple Index fund at most. Banks do not check whether you are eligible, it is between you and the IRS. The IRS webpage https://www.irs.gov/taxtopics/tc451 says "To contribute to a traditional IRA, you...
by student
Fri Mar 15, 2024 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Older jobless sibling with a daughter and an inheritance - thoughts on managing it
Replies: 31
Views: 2719

Re: Older jobless sibling with a daughter and an inheritance - thoughts on managing it

It doesn't look like a good situation to get involved in but to answer your question, it depends on how much risk one is willing to take. The conventional wisdom for money that one plans to use in a few year is to put the money in MM/CD.
by student
Fri Mar 15, 2024 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Tricare Retired Reserve: wow it sucks wth?
Replies: 25
Views: 2333

Re: Tricare for Life: wow it sucks wth?

gunny2 wrote: Fri Mar 15, 2024 2:14 pm $585/mo with a $4400 max out of pocket?? I could get cheaper insurance on my own to put it mildly.

Side note, their web site is horrific too. And shocker, there's no "Contact Us" option. Fed govt strikes again...
Is this the site? https://www.tricare.mil/Plans/HealthPlans/TFL I see Contact Us at the bottom.
by student
Fri Mar 15, 2024 1:39 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15186

Re: 5M, probably enough to retire to a frugal lifestyle

People that are being critical of the person referenced in this article are taking the use of the word "frugal" -- which was the author's word and not something the subject was quoted saying -- out of context, and completely missing the point of the larger piece. The article is about people that were successful in their careers and, rather than retired, have taken their foot off the gas and are continuing to work without chasing the almight dollar because they've made enough money. This "frugal" person in particular is basically saying that he wants to continue to live in the VHCOL area of Coastal California, and acknowledging that retiring with $5mm in that area at age 44 would mean scaling back spending. So instead he...
by student
Fri Mar 15, 2024 9:54 am
Forum: Personal Finance (Not Investing)
Topic: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?
Replies: 58
Views: 4230

Re: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?

TomatoTomahto wrote: Fri Mar 15, 2024 9:44 am I advise against gifting if there’s a doubt (okay, a reasonable non-apocalyptic doubt) that your assets will be sufficient. Standard “put your facemask on first” warning.
This would be my advice too.
by student
Fri Mar 15, 2024 9:37 am
Forum: Personal Finance (Not Investing)
Topic: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?
Replies: 58
Views: 4230

Re: How much should I leave to nieces/nephews vs. siblings vs. charity I'm passionate about?

Call_Me_Op wrote: Fri Mar 15, 2024 8:37 am Just don't do what my uncle did - which is leave all of his assets to one nephew and nothing to the many other nieces and nephews.
Is your uncle particularly close to that one nephew?
by student
Fri Mar 15, 2024 8:16 am
Forum: Personal Investments
Topic: Retiring soon. Please review of my portfolio
Replies: 5
Views: 1192

Re: Retiring soon. Please review of my portfolio

I think your portfolio looks good. Since you have TIAA, I assume you know about TIAA Traditional and chose not to invest in it.
by student
Thu Mar 14, 2024 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Cost basis inherited shares - what date?
Replies: 19
Views: 2113

Re: Cost basis inherited shares - what date?

Dmevsjd wrote: Thu Mar 14, 2024 4:46 pm
student wrote: Thu Mar 14, 2024 8:35 am
Big Dog wrote: Wed Mar 13, 2024 12:42 pm the cost basis for inherited stock is calculated as the average between the high and low on the day of death.
I did not know that. Learned something new today. Thanks.
Professionals utilize a program called EstateVal. Taxing authorities are very happy to see an EstateVal report in your filed paperwork and accept the valuation as gospel for marketable securities.
Thanks for the info.
by student
Thu Mar 14, 2024 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Cost basis inherited shares - what date?
Replies: 19
Views: 2113

Re: Cost basis inherited shares - what date?

Big Dog wrote: Wed Mar 13, 2024 12:42 pm the cost basis for inherited stock is calculated as the average between the high and low on the day of death.
I did not know that. Learned something new today. Thanks.
by student
Thu Mar 14, 2024 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab cannot overnight a replacement debit card
Replies: 87
Views: 6103

Re: Charles Schwab cannot overnight a replacement debit card

truenorth418 wrote: Wed Mar 13, 2024 11:54 pm 2. After returning home I opened a Fidelity Cash Management Account with its own ATM card.
truenorth418 wrote: Wed Mar 13, 2024 11:54 pm (Yes I know Fido charges 1% fee on foreign ATM withdrawals - I am willing to live with that in an emergency).
I don't think this is true for Fidelity CMA debit card. (I think they may be one for certain brokerage issued ones.) I have used Schwab and Fidelity card for ATM withdrawal internationally. Both used the published rate from VISA/Mastercard.
by student
Wed Mar 13, 2024 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab cannot overnight a replacement debit card
Replies: 87
Views: 6103

Re: Charles Schwab cannot overnight a replacement debit card

One person reported on reddit https://www.reddit.com/r/TravelHacks/co ... rd_backup/ "An express replacement debit card will cost you $15 and there isn’t a guarantee when it’ll get there especially for international destinations having to clear customs."
by student
Wed Mar 13, 2024 5:41 pm
Forum: Personal Consumer Issues
Topic: Cost of dental visit
Replies: 20
Views: 1363

Re: Cost of dental visit

Seems about right. I am in the midwest.
by student
Wed Mar 13, 2024 9:40 am
Forum: Investing - Theory, News & General
Topic: Is Raymond James beating the SP500? That's what they are claiming.
Replies: 59
Views: 4606

Re: Is Raymond James beating the SP500? That's what they are claiming.

bikechuck wrote: Wed Mar 13, 2024 9:33 am
student wrote: Wed Mar 13, 2024 8:03 am
fvaldes wrote: Wed Mar 13, 2024 8:00 am
southernlucky wrote: Wed Mar 13, 2024 7:49 am If you can provide the ticker of the RJ fund a comparison can be done.
I think this "report" is for actively picking stocks.. and conveniently only reports the results from 1993 to 2002. And of course, no mention of fees.
If they recommend one to buy different stocks regularly, there will be high turnover and the taxes........
Taxes are not an issue if the fund is held in pretax funds. High turnover can increase trading costs but the yields should be net of those costs so perhaps they have had a good run.

That said I am an index investor for life.
True. I was thinking about taxable accounts.
by student
Wed Mar 13, 2024 8:03 am
Forum: Investing - Theory, News & General
Topic: Is Raymond James beating the SP500? That's what they are claiming.
Replies: 59
Views: 4606

Re: Is Raymond James beating the SP500? That's what they are claiming.

fvaldes wrote: Wed Mar 13, 2024 8:00 am
southernlucky wrote: Wed Mar 13, 2024 7:49 am If you can provide the ticker of the RJ fund a comparison can be done.
I think this "report" is for actively picking stocks.. and conveniently only reports the results from 1993 to 2002. And of course, no mention of fees.
If they recommend one to buy different stocks regularly, there will be high turnover and the taxes........
by student
Wed Mar 13, 2024 7:05 am
Forum: Personal Finance (Not Investing)
Topic: How long after death to transfer assets
Replies: 33
Views: 3082

Re: How long after death to transfer assets

CAsage wrote: Tue Mar 12, 2024 9:12 pm I had thought that any account with a true TOD designation does NOT go through probate, and the will or executor has nothing to do with it. The beneficiaries should directly work with the brokerage. Or get their own lawyer, or take it up the customer service chain at Stonex (not Stonewall???). (that was a joke). Seriously, if there is a TOD - nothing to do with executor. Vanguard did this for me in days.
That's my understanding too.
by student
Tue Mar 12, 2024 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Why my mom will continue to need a financial advisor
Replies: 23
Views: 2088

Re: Why my mom will continue to need a financial advisor

As long as the advisor fee does not impact the viability of her retirement, it is worth the piece of mind. (Of course there will be a negative impact, I mean if the impact is just having less in the estate.)
by student
Tue Mar 12, 2024 9:53 am
Forum: Personal Investments
Topic: Fidelity Portfolio Manager Tools
Replies: 10
Views: 1245

Re: Fidelity Portfolio Manager Tools

I found Fidelity GPS quite good.
by student
Tue Mar 12, 2024 9:36 am
Forum: Personal Investments
Topic: Financial Advisor says my portfolio is akin to a retiree at age 34
Replies: 80
Views: 8054

Re: Financial Advisor says my portfolio is akin to a retiree at age 34

The challenge here is that it's up to the person being audited to justify the deduction. I am not sure how one could successfully argue that two funds, passively tracking the same third-party index, holding the same stocks in the same ratios are not substantially identical because one charges $15 per $10,000 and the other charges $30 per $10,000. As you noted, it's so easy to avoid that it's not worth even the small risk. How would I go about de-risking my portfolio here ? Is it as simple as not sell them in the same window to trigger wash sale rule, or is it more involved? What would be a good fund to have in a Roth IRA if I were to move it to another. Thanks again for all your valuable input! You can take a look at https://www.bogleheads...
by student
Tue Mar 12, 2024 8:43 am
Forum: Personal Investments
Topic: Financial Advisor says my portfolio is akin to a retiree at age 34
Replies: 80
Views: 8054

Re: Financial Advisor says my portfolio is akin to a retiree at age 34

aristotelian wrote: Tue Mar 12, 2024 8:37 am Looks like you have perhaps 25-30% in cash or bonds. That's a little conservative but not overly so. I do not think it is the job of an advisor to pressure a client into taking more risk. They should tell you the pros and cons of doing so but support you in making the choice.
I think the cash is for a down payment. Given that it is already at $200k, I assume that he/she will buy a house within the next few year. So it seems quite appropriate to keep the money in cash.
by student
Tue Mar 12, 2024 8:24 am
Forum: Personal Investments
Topic: Financial Advisor says my portfolio is akin to a retiree at age 34
Replies: 80
Views: 8054

Re: Financial Advisor says my portfolio is akin to a retiree at age 34

Ignore them. You're fine. Note that holding VOO in your taxable account and VFIAX in your Roth could trigger wash sale issues if you ever try to TLH. Ok, I've never thought of that before. Aren't they technically different funds altogether ? No. Same fund. Different share classes. You'd also run into the problem if you held a different S&P 500 fund since they're tracking the same index. If faced with an IRS auditor, could you explain how Fidelity's and Vanguard's S&P 500 funds are not substantially identical? I agree. Although some posters argued that different companies have different expense ratios of S&P 500 index funds so it is ok, I would also prefer to be more conservative. There are so many large cap index funds that use...
by student
Tue Mar 12, 2024 8:12 am
Forum: Personal Finance (Not Investing)
Topic: perfect credit rating, can’t use my credit
Replies: 18
Views: 2316

Re: perfect credit rating, can’t use my credit

Your insurance company may use your credit scores to set rates. (Some states disallow it.) So you may have benefited from having good scores.
by student
Tue Mar 12, 2024 8:03 am
Forum: Personal Investments
Topic: Financial Advisor says my portfolio is akin to a retiree at age 34
Replies: 80
Views: 8054

Re: Financial Advisor says my portfolio is akin to a retiree at age 34

harsha1 wrote: Tue Mar 12, 2024 7:55 am The single session was for a fixed fee. If I chose to take up their services (I didn't want to) the fee was 2.0% AUM
2% AUM. Hahahahahahaha. Highway robbery. My knee jerk reaction is you are 34 and you have 1.3 million dollars. You are in the top 3% of your age group. https://dqydj.com/net-worth-by-age-calculator/ The salesman should take advice from you. (I know I am exaggerating.)
by student
Tue Mar 12, 2024 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Removing "managing" from Fidelity account
Replies: 8
Views: 1230

Re: Removing "managing" from Fidelity account

I am also interested in how was she "tricked." Fidelity has several "managed" offers. With $400,000, it seems that it is not wealth management. Is it phone based or digital? https://www.fidelity.com/what-we-offer/overview With 70 securities, I wonder whether it is FidFolio. https://digital.fidelity.com/prgw/digit ... overview/a
by student
Sun Mar 10, 2024 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Any Azul Wells fans here?
Replies: 9
Views: 1092

Re: Any Azul Wells fans here?

Brianmcg321 wrote: Sun Mar 10, 2024 6:08 pm
student wrote: Sun Mar 10, 2024 6:01 pm I watched a lot of his videos but they are very repetitive. Mostly of the following theme.
1) Retirement smile spending.
2) Retire as soon as you can.
3) Use fee-only financial advisors.
And guess what, he's a fee only financial advisor.
Yes. That's true. He announces it at the beginning of every video that he has worked as a fee-only advisor for over 20 years.
by student
Sun Mar 10, 2024 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Any Azul Wells fans here?
Replies: 9
Views: 1092

Re: Any Azul Wells fans here?

I watched a lot of his videos but they are very repetitive. Mostly of the following theme.
1) Retirement smile spending.
2) Retire as soon as you can.
3) Use fee-only financial advisors.
by student
Sun Mar 10, 2024 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Cash Do You Keep In Your Home?
Replies: 207
Views: 14913

Re: How Much Cash Do You Keep In Your Home?

Here is a thread from last year. viewtopic.php?p=7292389 At the time, I kept about $3,000 at home but I have less now. (When rates were low, it was not a big deal. With over 4% interest at HYSA/T-bills, it would cost about $120 a year. So I made a change.)
by student
Sun Mar 10, 2024 2:42 pm
Forum: Personal Consumer Issues
Topic: Concierge Medicine
Replies: 79
Views: 12091

Re: Concierge Medicine

deikel wrote: Sun Mar 10, 2024 10:53 am Over all, I don't think concierge medicine has a future and the urgent/immediate care facilities will eat their lunch.
Not that I am in the position to pay for concierge medicine, I am not sure urgent/immediate care facilities are comparable in terms of staff. These days, it seems that urgent/immediate care facilities are not staffed with MD/DO but PA/NP.
by student
Sat Mar 09, 2024 6:23 am
Forum: Personal Finance (Not Investing)
Topic: International ATM fees (again)
Replies: 20
Views: 1526

Re: International ATM fees (again)

test123 wrote: Sat Mar 09, 2024 4:28 am Has anyone had experience with the Fidelity Cash management account —specifically—does it reimburse for FTF (foreign transaction fees) incurred on ATM withdrawals? Previous post have referenced a footnote on fidelity’s product info page which excludes FTF …. but some posters have indicated that the exclusion relates to debit purchase transactions. I spoke with a fidelity rep and they couldn’t be certain.
I had used Fidelity Cash management account to withdraw money from ATM in Europe. Good exchange rate and no foreign transaction fee that I can see. It gives the same rate as VISA/Mastercard (I don't remember which one).
by student
Fri Mar 08, 2024 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Can I splurge on a family vacation to Hawaii?
Replies: 56
Views: 4797

Re: Can I splurge on a family vacation to Hawaii?

Go on a vacation in Hawaii if you want. Think of it doing 3 years of travel in one year. If market is good, great. If not, cut back next year.
by student
Thu Mar 07, 2024 2:42 pm
Forum: Personal Consumer Issues
Topic: Cruising from Miami
Replies: 13
Views: 1305

Re: Cruising from Miami

Watty wrote: Thu Mar 07, 2024 2:37 pm
student wrote: Thu Mar 07, 2024 2:17 pm Thank you for the replies. I will look into Key West to see whether it is expensive to go.
It has been a while since I was there but there were more affordable places to stay about halfway down the keys so also look there.

The drive from Miami to Key West was very memorable so do that during the daytime when you can see all the views going across the long bridges.
Thanks. I will do more research about places that are halfway down to the keys since a preliminary check shows $500 a night of hotel in Key West, which is too expensive to me.
by student
Thu Mar 07, 2024 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: HELP! Need Credit Card Advice for Young Adult
Replies: 14
Views: 935

Re: HELP! Need Credit Card Advice for Young Adult

The site suggested above are good. To keep it simple, I would suggest start with one that gives a straight 2% cash back. For example Citi Double Cash or Wells Fargo Active Cash.
by student
Thu Mar 07, 2024 2:17 pm
Forum: Personal Consumer Issues
Topic: Cruising from Miami
Replies: 13
Views: 1305

Re: Cruising from Miami

Thank you for the replies. I will look into Key West to see whether it is expensive to go.
by student
Thu Mar 07, 2024 2:13 pm
Forum: Personal Consumer Issues
Topic: What to do if I am subpoenaed as a witness but I have overseas travel plans
Replies: 28
Views: 4084

Re: What to do if I am subpoenaed as a witness but I have overseas travel plans

Calico wrote: Wed Mar 06, 2024 1:45 pm
diy60 wrote: Tue Mar 05, 2024 3:01 pm
Calico wrote: Tue Mar 05, 2024 1:55 pm I won't bother bumping this thread again unless it's bad news and they can't reschedule me or allow me to call in, etc.
It would be nice to hear how this turned out.
I know I wasn't going to answer, but because someone asked me to let you know how it turned out... I finally heard back. They told me the case was dismissed (not sure why) and they told me not to worry about it. Too late for that. haha. I guess I can "not worry anymore."

But what a weird thing, now I am curious as to why it was dismissed, but at least I won't lose sleep over that.
Joke: Sue them for causing emotional distress.

Not a joke: It is good that you don't have to worry about it.
by student
Thu Mar 07, 2024 8:39 am
Forum: Personal Finance (Not Investing)
Topic: How do you deal with online misinformation?
Replies: 28
Views: 1739

Re: How do you deal with online misinformation?

With regards to financial advice/education, when you see something on YouTube, et al, which is blatantly wrong/misleading/predatory/whatever, how do you deal with it? Do you comment in that channel? Do you just ignore? Do you block the channel? Personally, I'm split on the matter. On the one hand, productive discussions on channels like that are virtually unheard of so there is no point in engaging. On the other hand, I feel an obligation to point people back to quality information, such as this site. I don't watch those channels. For example, I used to watch Dave Ramsey for entertainment but I think his investment advice is bogus so I stop watching them. I do like to watch several channels from advisors, mostly CFPs. They have pretty good...
by student
Wed Mar 06, 2024 3:08 pm
Forum: Personal Investments
Topic: TIAA vs Fidelity Brokerage in Retirement Account
Replies: 17
Views: 1738

Re: TIAA vs Fidelity Brokerage in Retirement Account

/curb fan: student, you were correct. I called TIAA today and the Brokerage rep told me that as long as I hit the minimum additional investments, my contributions to Brokerage Link funds that I already have set up will not be charged a fee even though these are funds that have a $35 transaction fee. The fee will only be charged when I sell. I too am a UNC plan participant and will have some mutual funds moving from the Fidelity BL into the TIAA self-directed brokerage. I have a question: For mutual funds that will be transferred into TIAA, are you saying that I will not have to pay the $35 brokerage fee for additional purchases of the funds that would normally be subject to the brokerage fee? For example the Fidelity Floating Rate FFRHX or...
by student
Wed Mar 06, 2024 2:39 pm
Forum: Personal Consumer Issues
Topic: Cruising from Miami
Replies: 13
Views: 1305

Cruising from Miami

We are planning to cruise from Miami just before Christmas. Normally, we will book the return flight in the late afternoon in case there is a minor delay. (Downside is we have to spend many hours at the airport.) Since we never really visited Miami before (other than quick transits), we are wondering whether to stay a couple of extra nights after the cruise (also to insure any unforeseen delay). So here are my questions.

1) Are there anything worth seeing?
2) What are good hotels to stay that are in safe area and have things to see? (We plan to stay at a hotel near the cruise port before the trip.)
3) Any other recommendations?

Thanks.
by student
Mon Mar 04, 2024 8:10 am
Forum: Personal Investments
Topic: PlanVision vs Maxifii/NewRetirement/ProjectionLab
Replies: 30
Views: 2406

Re: PlanVision vs Maxifii/NewRetirement/ProjectionLab

mkc wrote: Fri Mar 01, 2024 5:24 pm I found the asset allocation numbers didn't match Morningstar XRay or Fidelity's own GPS (Guided Portfolio Solutions, which is what you see when you click "analyze"). FullView, for me, was more than 5% off on the high side for equity allocation and similarly low on the fixed income allocation as compared to the other 2 (which essentially matched each other).
Interesting. For me, Fidelity's percentage of equity allocation is essentially the same as Empower's percentage of equity plus alternatives.
by student
Mon Mar 04, 2024 8:08 am
Forum: Personal Investments
Topic: PlanVision vs Maxifii/NewRetirement/ProjectionLab
Replies: 30
Views: 2406

Re: PlanVision vs Maxifii/NewRetirement/ProjectionLab

GaryA505 wrote: Fri Mar 01, 2024 4:50 pm The default assumptions in PlanVision eMoney are a little wonky. For example 1.2% for inflation???

You have to ask Mark to change the assumptions.
Yes. That's low. Mark talked about why he picked that in one of the videos for new customers. They also pick a low return for the stock market.
by student
Sun Mar 03, 2024 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: How much to tip movers?
Replies: 41
Views: 5133

Re: How much to tip movers?

Serious question - Why would you tip movers for doing their job? Do you tip a roofer, dentist, auto mechanic or the home depot cashier? I tip movers because, as one mover put it one time, "I work for tips." Roofers and auto mechanics are generally well paid. And obviously dentists are. Hopefully that Home Depot cashier gets benefits like health insurance, but tipping cashiers just isn't what people do, not expect. Movers don't usually get benefits, they have a very tough job, and they work hard. If I tip them for a job well done, that's a way of paying it forward, so they'll do that extra thing for the next person, who could be me next time. Last time they disassembled and reassembled my kid's drum set, even though they didn't ha...
by student
Sun Mar 03, 2024 10:18 am
Forum: Personal Consumer Issues
Topic: Best way to pay for a car in cash with Schwab
Replies: 20
Views: 1592

Re: Best way to pay for a car in cash with Schwab

I also used a personal check last time I purchased a new car.
by student
Sun Mar 03, 2024 10:17 am
Forum: Personal Consumer Issues
Topic: Furnace/AC replacement questions: when, how, and heat pump?
Replies: 6
Views: 1032

Re: Furnace/AC replacement questions: when, how, and heat pump?

I don't know about the cost of heat pump conversion. I did a get a new HAV recently. See viewtopic.php?t=383336
by student
Sun Mar 03, 2024 7:08 am
Forum: Investing - Theory, News & General
Topic: TIAA Traditional rates (historical view)
Replies: 37
Views: 3970

Re: TIAA Traditional rates (historical view)

crefwatch wrote: Sun Mar 03, 2024 4:15 am That also explains why big RC/RCP plans can get R4 expense ratios for the CREF accounts.
Thanks for the info. I was wondering how come we have access to those after the switch to RC/RCP.
by student
Sat Mar 02, 2024 1:23 pm
Forum: Personal Investments
Topic: Too many eggs in the TIAA-CREF basket?
Replies: 1
Views: 450

Re: Too many eggs in the TIAA-CREF basket?

I am a 57 year old retired man in Tennessee. I have virtually all my retirement money in TIAA-CREF, $665,000 in my 403b plan and $585,000 in my Teachers Personal Annuity (a personal/after-tax/non-qualified annuity). Do I have too many eggs in one basket? Should I move some of the money in my Teachers Personal Annuity to a Fidelity Personal Retirement Annuity just to diversify? I am considering moving $300,000 from my Teachers Personal Annuity through a partial 1035 exchange to Fidelity. BTW $883,000 of my money in TIAA is in the guaranteed fund, and I think that's too much. What should I be aware of? Thanks! I guess it depends on what one holds in TIAA. If 100% in TIAA Real Estate, then it is probably too much. If one is holding a variety ...
by student
Sat Mar 02, 2024 12:46 pm
Forum: Personal Consumer Issues
Topic: Do you simplify financial details with your love ones?
Replies: 16
Views: 1948

Re: Do you simplify financial details with your love ones?

gavinsiu wrote: Sat Mar 02, 2024 11:17 am I am curious for folks with parents or significant others with limited financial knowledge, rather than explaining how it works, you end up explaining it in such a way that it's sort of right but is not technically correct? For example, I have tried to explain Tbill to my mom, but she doesn't get it and II just tell her it's a US government issue CD. I guess I alway try to explain the concept first but if their eyes glazed over, I try to switch to analogies.
I would say that calling a T-bill a government issued CD is good enough.
by student
Sat Mar 02, 2024 8:54 am
Forum: Personal Investments
Topic: TIAA vs Fidelity Brokerage in Retirement Account
Replies: 17
Views: 1738

Re: TIAA vs Fidelity Brokerage in Retirement Account

I do not like the restrictions that are put on TIAA/Cref investments. Maybe I would do better if I left my money there, abut there are too many rules. Currently in year 4 of the 10 that I have to wait until all my money is transferred out of TIAA. 10% a year. What restrictions are you talking about? The only restrictions that I am aware of apart from the usual frequent "trading" that is common among many firms are: (1) Those on TIAA Real Estate. (2) Withdrawal restrictions on the illiquid version of TIAA Traditional, which I assume you have based on your post. For this, one needs to withdrawal in 10 installments over 9 years and 1 day. The liquid version does not have this restriction. The illiquid version usually have a higher i...
by student
Sat Mar 02, 2024 8:39 am
Forum: Personal Finance (Not Investing)
Topic: How can tell if FDLXX is state tax exempt from 1099-DIV
Replies: 26
Views: 1361

Re: How can tell if FDLXX is state tax exempt from 1099-DIV

In the old days, you would get a paper 1099-DIV and the mailing would include the sheet listing income from US government obligations (and if you owned a municipal bond fund, the sheet listing income by state for each municipal bond fund). If you look at Fidelity's sheet, you see it clues you in that you could have income exempt from state taxes and you would then be clued to figure out how to report this. Now in the online world, you need to know that you need this information if the brokerage/fund group doesn't list it in supplementary info attached to the 1099 and many don't. Yes. That's my experience with one exception, this year, after the switch to Morgan Stanley for "record keeping," Etrade has this info on its 1099. You h...
by student
Sat Mar 02, 2024 8:22 am
Forum: Personal Finance (Not Investing)
Topic: How can tell if FDLXX is state tax exempt from 1099-DIV
Replies: 26
Views: 1361

Re: How can tell if FDLXX is state tax exempt from 1099-DIV

Geologist wrote: Sat Mar 02, 2024 8:16 am In the old days, you would get a paper 1099-DIV and the mailing would include the sheet listing income from US government obligations (and if you owned a municipal bond fund, the sheet listing income by state for each municipal bond fund). If you look at Fidelity's sheet, you see it clues you in that you could have income exempt from state taxes and you would then be clued to figure out how to report this.

Now in the online world, you need to know that you need this information if the brokerage/fund group doesn't list it in supplementary info attached to the 1099 and many don't.
Yes. That's my experience with one exception, this year, after the switch to Morgan Stanley for "record keeping," Etrade has this info on its 1099.
by student
Sat Mar 02, 2024 8:19 am
Forum: Investing - Theory, News & General
Topic: CD statements and 1099's at banks
Replies: 5
Views: 584

Re: CD statements and 1099's at banks

I don't recall getting a 1099 in the mail from Marcus when I had a CD there.