Search found 527 matches

by sergio
Mon Jul 06, 2020 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring large amount of money out of Wells Fargo
Replies: 15
Views: 942

Re: Transferring large amount of money out of Wells Fargo

Yes you should be able to do this by pulling from Ally. Set up the new ACH link and it will probably need to be verified with trial deposits. Then you should be fine. Large amounts are more likely to get flagged for extra review, but in my experience this just means the bank doing the pull calls yo...
by sergio
Mon Jul 06, 2020 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring large amount of money out of Wells Fargo
Replies: 15
Views: 942

Re: Transferring large amount of money out of Wells Fargo

Yes you should be able to do this by pulling from Ally. Set up the new ACH link and it will probably need to be verified with trial deposits. Then you should be fine. Large amounts are more likely to get flagged for extra review, but in my experience this just means the bank doing the pull calls yo...
by sergio
Mon Jul 06, 2020 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring large amount of money out of Wells Fargo
Replies: 15
Views: 942

Re: Transferring large amount of money out of Wells Fargo

You should be able to do a domestic wire out of Wells Fargo for a small fee (I believe $25-$25). I don't think you'll be able to move $100K via a 3rd party on a newly opened account.... The limit for online wires is $10k/day or $25k/month, each with a $30/fee. It says I can visit my local branch or...
by sergio
Mon Jul 06, 2020 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Transferring large amount of money out of Wells Fargo
Replies: 15
Views: 942

Transferring large amount of money out of Wells Fargo

I am expecting to get a large international wire in the next week from the sale of my shares of the company where I work. I was going to use Ally, but they don't directly process inbound international wires (instead they go through CitiBank and the instructions are a little scary), so I set up a new...
by sergio
Mon Jun 15, 2020 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 297
Views: 21238

Re: Optimizing PPP Forgiveness

Is anyone here familiar with change of control and PPP? We took out PPP and recently a competitor approached us looking to acquire us quickly. It may be months before we get the PPP forgiveness officially decreed. We've already contacted our bank and they are looking into this, but I wanted to see i...
by sergio
Tue Jun 09, 2020 10:37 am
Forum: Personal Investments
Topic: A Prodigal Boglehead Returns (poorer)
Replies: 32
Views: 4789

Re: A Prodigal Boglehead Returns (poorer)

People have lost hundreds of thousands selling at the bottom in 2009. The $1000 you lost could be the best thing that ever happened to you, as it's enough to "sting" and make you learn firsthand, but not enough to crater you financially. DO NOT SELL unless your life is in danger. If you the market d...
by sergio
Sun Jun 07, 2020 7:35 pm
Forum: Personal Consumer Issues
Topic: Patio door glass replacement
Replies: 21
Views: 940

Re: Patio door glass replacement

The seal in our sliding door broke and it was superfoggy. Cost $400 to swap out the glass, keeping the existing frame. I used safety tempered glass.
by sergio
Sun Jun 07, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Sewer Line Replacement - Expensive/Next Steps
Replies: 23
Views: 2752

Re: Sewer Line Replacement - Expensive/Next Steps

Cast iron drains have a lifespan of 50 to 100+ years - ours are close to 60 years and we had them scoped last year and are still in really good shape. Yours are basically brand new. Anyways, this is a pretty easy DIY project. I helped a buddy of mine do this years ago, it required a lot of digging b...
by sergio
Sat May 23, 2020 9:53 am
Forum: Personal Investments
Topic: Has anyone ever used their Emergency Fund?
Replies: 92
Views: 7507

Re: Has anyone ever used their Emergency Fund?

We kind of used it. I did some calculations and our emergency fund grew to something like 18 months of expenses. So we took out 6-8 months to pay for a new Honda Accord with cash. Now that our company is going through a potential acquisition, we've started beefing it up again. This also includes put...
by sergio
Fri May 15, 2020 5:26 pm
Forum: Personal Investments
Topic: New Horizons: ETF equivalent
Replies: 8
Views: 644

Re: New Horizons: ETF equivalent

Hopefully OP did not sell PRNHX, it is on a tear this year!!! Nearly 40% of my HSA investment is in this fund, as it's the only place I have access to it, and have held it since I started investing in 2015 because I went by its past performance being a new investor (LOL).
by sergio
Wed May 13, 2020 5:17 pm
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 11397

Re: Dentist charges $10 for PPE

I think this is a good example of how not to manage interactions with your customers. I think a dentist would be far better off just charging a little more for their services. I think people would be much more understanding of “my overall costs have increased” vs. feeling like you are being nickel ...
by sergio
Wed May 13, 2020 5:07 pm
Forum: Personal Consumer Issues
Topic: Dentist charges $10 for PPE
Replies: 234
Views: 11397

Re: Dentist charges $10 for PPE

Pay the dentist and be glad that she is doing everything in her power to keep the doors open and protecting their patients. Yeah, not sure how this generated nearly 100 posts of controversy, including some obviously outraged and offended people. Dentists are probably at very high risk of exposure t...
by sergio
Tue May 05, 2020 12:32 pm
Forum: Investing - Theory, News & General
Topic: All my friends are outperforming index funds
Replies: 122
Views: 11455

Re: All my friends are outperforming index funds

I am not a true Boglehead, in that I hold a lot of active funds (mostly AmericanFunds, TRowePrice, and Fidelity). I use the Vanguard 2045 Target Retirement Fund as my benchmark. 1. The AmericanFunds TD fund has done incredibly well YTD. The TRowe TD fund has performed a little better but the differe...
by sergio
Tue May 05, 2020 10:24 am
Forum: Investing - Theory, News & General
Topic: When to make conversion with backdoor Roth
Replies: 8
Views: 293

Re: When to make conversion with backdoor Roth

Is anyone able to convert immediately with Fidelity? If transfer $100 into my traditional IRA, it takes something like 4 days before I'm allowed to convert. The agent in the live chat I just spoke to said the cash needs to "settle" before I can do a conversion which takes 4 business days. I believe ...
by sergio
Tue May 05, 2020 9:28 am
Forum: Investing - Theory, News & General
Topic: When to make conversion with backdoor Roth
Replies: 8
Views: 293

When to make conversion with backdoor Roth

What is the generally accepted "best" strategy for timing on a backdoor Roth conversion? Should I wait until the end of the year and do it once? Should I do it as soon as I hit the $6000 max in the non-deductible IRA? Or is it generally better to convert as soon you add money to the traditional non-...
by sergio
Mon May 04, 2020 5:27 pm
Forum: Investing - Theory, News & General
Topic: Who is your all time favorite investor and why?
Replies: 52
Views: 2842

Re: Who is your all time favorite investor and why?

James Wang of the former Oceanstone fund. What a story that was. RIP.
by sergio
Sun May 03, 2020 7:50 pm
Forum: Personal Consumer Issues
Topic: Is it difficult to hang upper cabinets?
Replies: 16
Views: 1150

Re: Is it difficult to hang upper cabinets?

Easy in principal if you know where the studs are, have the tools, and a second person.

If your walls and ceilings are not straight it could be a bit tricky to get things to look nice.
by sergio
Thu Apr 30, 2020 1:57 pm
Forum: Personal Consumer Issues
Topic: Clogged Drain Tile?
Replies: 11
Views: 1015

Re: Clogged Drain Tile?

A pump running once every three minutes isn't much at all. I've had mine run for an hour constantly in a storm without stopping. :shock: At one point I forgot to turn off the pump in the winter and the discharge pipe was clogged with ice. The pump must have run for hours (if not the whole night) tr...
by sergio
Thu Apr 30, 2020 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Minor regret with a 15-year mortgage
Replies: 26
Views: 3013

Re: Minor regret with a 15-year mortgage

I’d refinance again after the rate goes to 3% or lower. But don’t start over with another 30 years. Make it a 28 year loan. Every time we refinanced, we kept the final pay-off date the same. Who wants to be paying off a mortgage in retirement? Thanks for the suggestion. Is there generally a "minimu...
by sergio
Thu Apr 30, 2020 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Minor regret with a 15-year mortgage
Replies: 26
Views: 3013

Re: Minor regret with a 15-year mortgage

No closing costs. everytime I read these threads I scratch my head. who paid for the appraisal? who paid the title company? I could've gotten 2.5% for around $2,500 in closing costs. They had an offer for 3.25% with $0 in closing costs. I will likely pay more than $2,200 over the life of the loan i...
by sergio
Thu Apr 30, 2020 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Minor regret with a 15-year mortgage
Replies: 26
Views: 3013

Re: Minor regret with a 15-year mortgage

You may be able to get a better rate than 3.25% but it looks to me that a lot of places offer higher refi rates than you currently are paying. It appears your original PI+PMI was about 1220/month, while you currently are paying about $1416 or less than $200 extra. If you can refi at 3.25% on a new ...
by sergio
Thu Apr 30, 2020 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Minor regret with a 15-year mortgage
Replies: 26
Views: 3013

Re: Minor regret with a 15-year mortgage

delamer wrote:
Thu Apr 30, 2020 12:23 pm
How old are you/spouse and your kids?
Spouse and I are in our mid 30s, one kid is 1.5, another is 11.
by sergio
Thu Apr 30, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Minor regret with a 15-year mortgage
Replies: 26
Views: 3013

Minor regret with a 15-year mortgage

We originally bought a house in May 2018 with 5% down, $65/month PMI, 30year mortgage @ around 4.5% fixed. Made the equivalent 15-year monthly payment. Refinanced in January 2019 to a 15-year mortgage @ 3.875% with $22/month PMI. Paid extra every once in a while. Closing costs around $1700. We thoug...
by sergio
Wed Apr 29, 2020 10:50 am
Forum: Personal Consumer Issues
Topic: Highlander or RAV4
Replies: 57
Views: 3371

Re: Highlander or RAV4

Bought a 2019 highlander at the end of 2019 - it was an extra $2,000 to go from a 2020 AWD LE RAV4 to a new AWD LE 2019 Highlander, as the 2019s were being firesaled... I don't think I would pay $6-8000 more, however.
by sergio
Wed Apr 29, 2020 9:54 am
Forum: Personal Investments
Topic: Holding Gold as "Doomsday Fund"
Replies: 121
Views: 5133

Re: Holding Gold as "Doomsday Fund"

I know gold/precious metals is not a boglehead thing, but if one wanted to have, say 1-2% in that asset class and didn't want to own it physically, what would be the best option? AFAIK most of the funds just hold mining/processing companies, VGPMX is no longer a PM fund, etc.
by sergio
Tue Apr 28, 2020 10:58 pm
Forum: Personal Investments
Topic: Holding Gold as "Doomsday Fund"
Replies: 121
Views: 5133

Re: Holding Gold as "Doomsday Fund"

I used to think gold was totally worthless but then read about how rich people who fled their countries were often able to take a small amount of wealth with them in the form of expensive jewelry...
by sergio
Sun Apr 26, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: 2020 Stimulus - Interesting Situation
Replies: 2
Views: 634

Re: 2020 Stimulus - Interesting Situation

1) My understanding is I don't need to give back the $2900 even with the high 2020 AGI. 2) Is there a way to get the $500 payment for my stepdaughter directly from the IRS this year based on 2019 AGI? 3) I don't believe we would be eligible to get the $500 tax credit next year, correct? 1) Correct....
by sergio
Sun Apr 26, 2020 11:04 am
Forum: Personal Finance (Not Investing)
Topic: 2020 Stimulus - Interesting Situation
Replies: 2
Views: 634

2020 Stimulus - Interesting Situation

Last year 2019 my wife and I filed jointly with AGI <$150,000 with one kid. We *should* get $2900 this week according to the IRS web site. This year we have an additional dependent - stepdaughter moved to live with us full time. But it is likely that our 2020 AGI will be >$200k as we are in the proc...
by sergio
Sun Apr 26, 2020 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Unemployed renter w/1.1m taxable - looking to buy 400k home for cash
Replies: 36
Views: 3877

Re: Unemployed renter w/1.1m taxable - looking to buy 400k home for cash

Yes you can afford it. Get a job paying $20k a year (in our area that's 25hrs/week at Home Depot or Costco) and that means you'll only need to take out $15k/year. You'll probably get a juicy subsidy for an ACA health insurance plan and ton of tax breaks and other government aid. That said, I still p...
by sergio
Sat Apr 25, 2020 9:35 am
Forum: Personal Finance (Not Investing)
Topic: PPP Loan and Risk that Forgiveness Rules will Change
Replies: 15
Views: 1335

Re: PPP Loan and Risk that Forgiveness Rules will Change

This would have been great to lay out when the application first came out , not after $350B has already been spoken for. Literally every small business I know applied, because they couldn't afford not to and the "rules" and guidance were super vague early on. According to the recent article, worst c...
by sergio
Fri Apr 24, 2020 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 297
Views: 21238

Re: Optimizing PPP Forgiveness

What it will actually take to have these amounts forgiven is the big question mark. I'm worried that receiving forgiveness is going to be much more difficult than anyone is expecting. The politics around it is going to be awful. Just today the US Treasury issued guidance that disqualifies all publi...
by sergio
Fri Apr 24, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Get My Payment up and running
Replies: 369
Views: 25036

Re: IRS Get My Payment up and running

Has there been any official info on when direct deposits will be going out for those that successfully submitted their bank info? Several sources have said it should be today , but I haven't seen any reports of people receiving DD who submitted their bank info the day the portal opened. We're still ...
by sergio
Fri Apr 24, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Chase PPP Failure--Part Deux
Replies: 24
Views: 1939

Re: Chase PPP Failure--Part Deux

Having a relationship with a smaller bank is what saved us, even though it was our secondary bank that we only used to park cash reserves because they have good rates. Needless to say, we're fully switching over to them since they busted their butts to get us our PPP loan, which was finally deposite...
by sergio
Thu Apr 23, 2020 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: [Government stimulus payments]
Replies: 358
Views: 28612

Re: [Government stimulus payments]

Several people have reported being told by the IRS that a deposit is going out tomorrow for those that provide bank info last week. Those that provided bank info this week will receive their deposit next week.
by sergio
Fri Apr 17, 2020 8:56 pm
Forum: Personal Consumer Issues
Topic: How to deal with loud neighbor bass noise in NYC
Replies: 34
Views: 1880

Re: How to deal with loud neighbor bass noise in NYC

I concur with the advocates for moving. Sad to say but if you sensitive to noise you need to be careful of neighbors and avoid apartment, townhouse living. Townhouses aren't too bad since they either have a cement block wall in between units, or at the very least two detached walls with an airspace...
by sergio
Fri Apr 17, 2020 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Has your PPP loan been processed yet? Ours hasn’t been, and I'm getting concerned
Replies: 102
Views: 7687

Re: Has your PPP loan been processed yet? Ours hasn’t been, and I'm getting concerned

Was notified from a friend today that was approved for $148k from BB&T. My friend, the business owner, is also friends with some of the local business bankers at BB&T. The sad/funny thing is that this business is fairly well immune from the recession. They don't "need" the money the way that many o...
by sergio
Thu Apr 16, 2020 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Has your PPP loan been processed yet? Ours hasn’t been, and I'm getting concerned
Replies: 102
Views: 7687

Re: Has your PPP loan been processed yet? Ours hasn’t been, and I'm getting concerned

$350 billion available and according to an article today the average loan size is around $240k, which means around 1.5 million loans were approved. 15 seconds of googling shows there are around 30 million (!!!) small businesses in the US. So this is a drop in the bucket. The $10m limit is ridiculous...
by sergio
Wed Apr 15, 2020 10:17 pm
Forum: Personal Consumer Issues
Topic: How to get N95 masks? Seriously
Replies: 61
Views: 5188

Re: How to get N95 masks? Seriously

I think consumers will be able to buy N95 masks about the same time the country "reopens." Until then we should isolate to the maximum degree and use improvised masks when absolutely necessary. I found a place selling KN-95 masks for $5.00 each. They arrived in about 5 days. I'm not sure the exact ...
by sergio
Wed Apr 15, 2020 10:16 pm
Forum: Personal Consumer Issues
Topic: How to get N95 masks? Seriously
Replies: 61
Views: 5188

Re: How to get N95 masks? Seriously

My wife knows a Chinese woman in our area who had a pallet of them shipped from China...

The woman donated half, and sold the other half (at cost) to other Chinese people in the area.
by sergio
Wed Apr 15, 2020 9:10 am
Forum: Personal Finance (Not Investing)
Topic: IRS Get My Payment up and running
Replies: 369
Views: 25036

Re: IRS Get My Payment up and running

I owed in 2019 and had to put in my direct deposit info, didn't have any issues.
by sergio
Mon Apr 06, 2020 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Possible PPP Loan fraud
Replies: 26
Views: 1956

Re: Possible PPP Loan fraud

OP I looked at that clause as only taking the loan if you truly need it - meaning that you would’ve needed to take out a loan anyway to keep payroll at its current standing. Most SB owners think this is risk free, “free money.” When I pointed out that the official regs haven’t even been posted yet,...
by sergio
Mon Apr 06, 2020 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Possible PPP Loan fraud
Replies: 26
Views: 1956

Re: Possible PPP Loan fraud

Only owners with greater than 20% ownership need to sign that the loan is being take out in "good faith" . And unless you're a liquor store, Costco, or Amazon, you're probably facing economic uncertainty.
by sergio
Fri Apr 03, 2020 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus money if I owed taxes in 2019?
Replies: 11
Views: 1492

Re: Stimulus money if I owed taxes in 2019?

I'm in roughly the same boat, that I got a refund for my 2018 taxes but paying on the 2019. I wouldn't really expect them to use e-file direct debit information since those routing/account numbers are really "on the return", though maybe I'm thinking too paper-centric. I think that when the last "e...
by sergio
Fri Apr 03, 2020 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus money if I owed taxes in 2019?
Replies: 11
Views: 1492

Re: Stimulus money if I owed taxes in 2019?

That's a good strategy. Thanks!
by sergio
Fri Apr 03, 2020 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus money if I owed taxes in 2019?
Replies: 11
Views: 1492

Re: Stimulus money if I owed taxes in 2019?

From the IRS page: How will the IRS know where to send my payment? The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible. For people who have already filed their 2019 tax returns, the IRS will use this...
by sergio
Fri Apr 03, 2020 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus money if I owed taxes in 2019?
Replies: 11
Views: 1492

Stimulus money if I owed taxes in 2019?

I owed around $3000 in federal taxes in 2019 (no penalty) and had it directly withdrawn from my checking account. The same checking account had a $300 refund deposited into it in 2018. Will I still get the 2020 stimulus money directly deposited into this checking account, even though it was used to ...
by sergio
Tue Mar 31, 2020 6:37 am
Forum: Personal Consumer Issues
Topic: Water line replacement - is HOA responsible?
Replies: 24
Views: 1506

Re: Water line replacement - is HOA responsible?

In our complex, any utilities repairs like water and sewer outside of the unit are handled by the HOA. You need to contact the HOA unless it is an emergency (eg sewer backup).
by sergio
Fri Mar 27, 2020 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: How are you going to use your stimulus money?
Replies: 222
Views: 12934

Re: How are you going to use your stimulus money?

My stepdaughter came to live with us Jan of this year, so she wasn't claimed as a dependent in 2019 and I won't get a $500 check for her when the money is distributed. Does this mean I'll get the $500 for her in the form of a tax credit for my 2020 taxes? Can I just lower my withholding by $500 so ...
by sergio
Fri Mar 27, 2020 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: How are you going to use your stimulus money?
Replies: 222
Views: 12934

Re: How are you going to use your stimulus money?

My stepdaughter came to live with us Jan of this year, so she wasn't claimed as a dependent in 2019 and I won't get a $500 check for her when the money is distributed. Does this mean I'll get the $500 for her in the form of a tax credit for my 2020 taxes? Can I just lower my withholding by $500 so I...