Search found 175 matches

by DetroitRed
Mon Aug 05, 2013 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Poll: At what age did you hit $500k Net Worth
Replies: 68
Views: 13928

Re: Poll: At what age did you hit $500k Net Worth

The additional piece of info I'd like to know is an estimate of how much in income (combined income for couples) plus gifts (inheritance) had the person earned over their lifetime when they reached 500k in savings. A couple who had reached 500k at 30 but had cumulatively earned and/or inherited $5 m...
by DetroitRed
Thu Aug 01, 2013 12:53 pm
Forum: Investing - Theory, News & General
Topic: Is company stock ever a good idea?
Replies: 35
Views: 3206

Re: Is company stock ever a good idea?

There is a special tax break for company stock owned in a company retirement plan, see http://www.retirementwatch.com/irasample3.cfm .

I don't believe that tax break outweighs the negatives mentioned previously.
by DetroitRed
Fri Jul 26, 2013 4:43 pm
Forum: Investing - Theory, News & General
Topic: The Vanguard Group - SEC Form ADV
Replies: 11
Views: 1297

Re: The Vanguard Group - SEC Form ADV

In section 5A. Vanguard states it has 238 employees.....wow, that sounds low. I don't know what I was expecting, but it just "seems" low. 1210 I looked up the latest employee numbers for some Vanguard competitors: T Rowe Price: 5,372 Legg Mason: 2,975 AllianceBernstein:3,764 Franklin Reso...
by DetroitRed
Wed Jul 24, 2013 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Pent Fed Platinum Rewards - another way new card is worse
Replies: 19
Views: 2220

Re: Pent Fed Platinum Rewards - another way new card is wors

I wanted to point out another way the Pentagon Federal Platinum Rewards Visa new rewards system (where you get a prepaid Visa with your reward monies) is worse than the old one (where you got immediate cash back). I bought some shoes with the prepaid Visa and later returned them. The refund didn't ...
by DetroitRed
Wed Jul 24, 2013 11:05 am
Forum: Personal Finance (Not Investing)
Topic: PenFed Platinum Rewards Visa CC changes
Replies: 118
Views: 33128

Re: PenFed Platinum Rewards Visa CC changes

This is really a mess. I just called to try and verify if they were changing me from 5/3/1 to 3/2/1 rewards. The customer service person looked up my account, said that I was changing, that I had been sent notification and that there was no way to opt out. When I asked her to verify when I had been ...
by DetroitRed
Mon Jul 22, 2013 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Pent Fed Platinum Rewards - another way new card is worse
Replies: 19
Views: 2220

Re: Pent Fed Platinum Rewards - another way new card is wors

A lot of self checkouts Kroger and Home Depot to name two that work for me allow split tenders. I've paid for one transaction at a store with two Prepaid Visa cards and my regular credit card . The clerk didn't like it very much (and I didn't like it much either), but it allowed me to use up multip...
by DetroitRed
Mon Jul 22, 2013 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Pent Fed Platinum Rewards - another way new card is worse
Replies: 19
Views: 2220

Re: Pent Fed Platinum Rewards - another way new card is wors

I typically use the reward card to buy an amazone gift card. That's a very good idea. Probably doesn't work for me though because I don't spend much on Amazon.com. Re: the new rebate via a Visa prepaid card. I also have to remind myself not to use the prepaid Visa for gas or at a grocery store beca...
by DetroitRed
Sun Jul 21, 2013 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Pent Fed Platinum Rewards - another way new card is worse
Replies: 19
Views: 2220

Pent Fed Platinum Rewards - another way new card is worse

I wanted to point out another way the Pentagon Federal Platinum Rewards Visa new rewards system (where you get a prepaid Visa with your reward monies) is worse than the old one (where you got immediate cash back). I bought some shoes with the prepaid Visa and later returned them. The refund didn't s...
by DetroitRed
Fri Jul 19, 2013 10:54 am
Forum: Investing - Theory, News & General
Topic: NYC Pension Fund Boasts 12.3% Return for Last 12 Months
Replies: 11
Views: 882

Re: NYC Pension Fund Boasts 12.3% Return for Last 12 Months

Per a recent Wall Street Journal article: When officials with Montgomery County, Pa., became troubled by their pension fund's investment fees and recent performance, they turned to a neighbor [ Jack Bogle ] for advice. His take: Park money in low-cost index funds. Pension Fund Takes Neighborly Advic...
by DetroitRed
Tue Jul 16, 2013 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: (Planned) AA Change consideration - return to 100% equities
Replies: 36
Views: 3568

Re: (Planned) AA Change consideration - return to 100% equit

I also feel like the '08/09 downturn has "taught" a lot of people a bad lesson -- that you'll make up the downturn stock losses within a couple of years.

That hasn't always been the case.
by DetroitRed
Fri Jul 12, 2013 10:56 am
Forum: Investing - Help with Personal Investments
Topic: Additional TIAA investment
Replies: 9
Views: 908

Re: Additional TIAA investment

Keep in mind that money in a TIAA Traditional RA account can only be transferred out over 10 years in 1/10th intervals, so if you transfer it all in now and rates rise it'll take you 10 years to transfer the money out. See part 8 here, m However, as House Blend points out, if you leave your money in...
by DetroitRed
Fri Jul 12, 2013 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Mom just lent 40k to a friend w/o a contract
Replies: 61
Views: 10376

Re: Mom just lent 40k to a friend w/o a contract

My mother lent her brother a lot of money about 15 years ago (was over 30k) for his business. I advised her to have an attorney prepare a formal promissory note and to try and become a beneficiary of his life insurance policy. She had a promissory note prepared (he never signed) and he never changed...
by DetroitRed
Wed Jun 19, 2013 8:15 pm
Forum: Personal Consumer Issues
Topic: Page Plus Versus Republic Wireless - Who's Better?
Replies: 28
Views: 5629

Re: Page Plus Versus Republic Wireless - Who's Better?

Re: Page Plus -- a lot of phones work on their network but they try to push you towards the four phones they sell on their site. https://www.pagepluscellular.com/phones/
by DetroitRed
Fri May 24, 2013 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Slow to Process Rollover
Replies: 15
Views: 1625

Re: Vanguard Slow to Process Rollover

I found the process of rolling over from Fidelity to Vanguard much too slow. I have a 401k that I would also like to roll-over to consolidate, but I am hesitating due to the length of the delay. I did, as well, but that was because Fidelity sent the rollover check to me, instead of to Vanguard, as ...
by DetroitRed
Fri May 17, 2013 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: College - The new scam
Replies: 33
Views: 2574

Re: College - The new scam

I don't completely disagree with some of the article's points, but I feel like he cherry picked a lot of the numbers. For example, he only looked at private colleges, not public. And he only included private school debt numbers for students who borrowed money. Not everyone borrows. Per the College B...
by DetroitRed
Thu May 16, 2013 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: VG ex-US Small-Cap Fund or ETF in IRA?
Replies: 21
Views: 1922

Re: VG ex-US Small-Cap Fund or ETF in IRA?

RNJ - have you done an analysis to see if you generally pay a .5% premium when you buy the ETF?

As mentioned earlier, my hunch would be that you do. If that's the case then the only real differences for you would be a higher expense ratio for the mutual fund but more hassles buying/selling the ETF.
by DetroitRed
Wed May 15, 2013 3:54 pm
Forum: Investing - Theory, News & General
Topic: Emerging Market Bond Fund is available
Replies: 76
Views: 6408

Re: Emerging Market Bond Fund is available

My understanding is that a lot of emerging market countries with good credit don't issue debt in USD. Ex. Singapore issues their debt in local currency (Singaporean dollars). Therefore, this fund will leave out a bunch of the better emerging market credits.
by DetroitRed
Tue Apr 30, 2013 9:54 am
Forum: Investing - Theory, News & General
Topic: Reduction in TIAA Traditional rates in IRAs
Replies: 23
Views: 4108

Re: Reduction in TIAA Traditional rates in IRAs

I'm wondering if there's anything that would prevent them from doing the same thing for their qualified plans (403b, RA, GSRA, etc.).

My hunch would be - no.
by DetroitRed
Thu Apr 11, 2013 10:25 am
Forum: Investing - Help with Personal Investments
Topic: Can I tax loss harvest from VG TIPS to ST TIPS?
Replies: 14
Views: 832

Re: Can I tax loss harvest from VG TIPS to ST TIPS?

Take a look at 26 C.F.R. § 1.148-4(b)(2)(ii).

It states that bonds are substantially identical if their "interest rate, maturity, and payment dates are the same."
by DetroitRed
Thu Apr 04, 2013 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Converting from Rental to Owner Occupied
Replies: 24
Views: 5532

Re: Converting from Rental to Owner Occupied

I believe when you sell, you'll have to recapture the depreciation (pay 25% tax on all previously declared depreciation), even though it turned from a rental to your primary residence.
by DetroitRed
Tue Apr 02, 2013 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Low Credit Card Utilization - is too low no good?
Replies: 26
Views: 6283

Re: Low Credit Card Utilization - is too low no good?

FICO scoring loves low utilization. I pay my CC's the day before the statement drops to minimize the reported balances. Let at least one card report a small balance though, as several scoring models mark you down for reported 0% utilization. Interesting. I've never heard of this strategy before. An...
by DetroitRed
Sun Mar 24, 2013 7:04 pm
Forum: Personal Consumer Issues
Topic: "Think You Just Bought Your Real Credit Score? Think Again"
Replies: 18
Views: 2833

Re: "Think You Just Bought Your Real Credit Score? Think Aga

The credit score system is such a mess. Well, at least I have a higher credit score than Warren Buffett --


"Fortune Magazine reported that Warren Buffett has a FICO score of 718"

http://www.myfico.com/crediteducation/a ... score.aspx
by DetroitRed
Thu Mar 07, 2013 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mathematicians or statisticians here? Seeking your advice
Replies: 70
Views: 8382

Re: Mathematicians or statisticians here? Seeking your advic

Take a look at this data analytics job board -- m The core skill sets are generally being very adept with statistical software and having good stat analysis skills. If that's the kind of thing that interests you, there are lots of opportunities, they pay well and there's every reason to believe this...
by DetroitRed
Fri Feb 22, 2013 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Paying Estimated Tax As A "One-Pay"
Replies: 12
Views: 933

Re: Paying Estimated Tax As A "One-Pay"

From the IRS web page (bolded applicable part): m For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. If you do not pay enough tax by the due date of each of the payment periods , you may be charged a penalty even if you are due a r...
by DetroitRed
Fri Feb 15, 2013 11:32 am
Forum: Investing - Theory, News & General
Topic: Average 401k balance$
Replies: 25
Views: 22420

Re: Average 401k balance$

Sources that use the Federal Reserve's Survey of Consumer Finances (SCF) tend to give a better picture because it tracks all types of retirement funds (401k, IRA, Roth IRA etc.). The problem for lay people (and journalists) who want to use SCF is that there's a lag (most current available is 2010) a...
by DetroitRed
Thu Feb 14, 2013 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Investment Bank Internship versus Accounting Courses
Replies: 27
Views: 2397

Re: Investment Bank Internship versus Accounting Courses

The other well-traveled career option at HYP besides investment banking is to work in consulting. If she doesn't get an i-banking internship, why doesn't she look into that. Though I don't believe the Big Three: McKinsey, Bain and Boston Consulting - have very big internship programs. Also, it's ver...
by DetroitRed
Wed Jan 23, 2013 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Paper I-Bonds Purchases With Tax Return
Replies: 29
Views: 2897

Re: Paper I-Bonds Purchases With Tax Return

Thanks for the info dratkinson and tfb.
by DetroitRed
Wed Jan 23, 2013 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Paper I-Bonds Purchases With Tax Return
Replies: 29
Views: 2897

Re: Paper I-Bonds Purchases With Tax Return

Anyone tried filing an early (Jan. or Feb.) extension (Form 4868) along with a payment to "top up" their refund to $5,000? And then the plan would be to wait for the payment to be cashed and immediately file your tax return (i.e. well before April 15th). I might try that this year, unless ...
by DetroitRed
Sun Jan 20, 2013 2:06 pm
Forum: Personal Consumer Issues
Topic: What podcasts do you listen to?
Replies: 46
Views: 10839

Re: What podcasts do you listen to?

The BBC has a lot of good podcast documentaries. Topics are much wider than those covered in most US outlets --

http://www.bbc.co.uk/podcasts/series/docarchive
by DetroitRed
Mon Nov 12, 2012 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Please critique a new college graduate's financial situation
Replies: 11
Views: 1308

Re: Please critique a new college graduate's financial situa

Re: your girlfriend's subsidized loans I haven't looked at student loan rules in a long time, so the rules might have changed. Won't the US government pay the interest if you are in school more than 1/2 time? If that's still the case, I wouldn't rush to pay those off until after she graduates. One o...
by DetroitRed
Sat Nov 10, 2012 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Walmart Amex BlueBird Card
Replies: 9
Views: 2199

Re: Walmart Amex BlueBird Card

This is on the BlueBird homepage --


Important information for current Cardholders
Bluebird is changing. As part of these improvements, we are ending the current bluebird program and closing all accounts from that program on December 8th, 2012.
by DetroitRed
Fri Oct 26, 2012 11:05 am
Forum: Investing - Theory, News & General
Topic: Avoiding the black hole of investing
Replies: 88
Views: 7007

Re: Avoiding the black hole of investing

DetroitRed Re your point--you don't need the data back then, just look at data as I showed over last 40-50 years. And look at international data for about last 20+ years. It's the same everywhere Larry Hi Larry, I'm still uncomfortable with drawing such strong conclusions where we only have 1 non-o...
by DetroitRed
Fri Oct 26, 2012 10:23 am
Forum: Investing - Theory, News & General
Topic: Avoiding the black hole of investing
Replies: 88
Views: 7007

Re: Avoiding the black hole of investing

I'm very uncomfortable with small cap return calculations that go back to the 1920s. We don't have complete data for small caps prior to July 1962 because the primary US stock return data source, CRSP, doesn't have American Stock Exchange (AMEX) coverage until 7/2/62. That means that an enormous num...
by DetroitRed
Sun Oct 21, 2012 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Losing money
Replies: 45
Views: 5215

Re: Losing money

Warren Buffett says there are two rules of investing: 1) Never Lose Money 2) Never forget rule No. 1 I sure don't want to dispute Warren Buffett, but I do not understand the above. If I have $100,000.00 invested in the S & P 500 Index fund and the value goes down to $75,000.00, then in my opini...
by DetroitRed
Fri Oct 19, 2012 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Losing money
Replies: 45
Views: 5215

Re: Losing money

Warren Buffett says there are two rules of investing: 1) Never Lose Money 2) Never forget rule No. 1 I sure don't want to dispute Warren Buffett, but I do not understand the above. If I have $100,000.00 invested in the S & P 500 Index fund and the value goes down to $75,000.00, then in my opini...
by DetroitRed
Wed Oct 17, 2012 6:15 pm
Forum: Investing - Theory, News & General
Topic: VG Short Term TIPS Launches Tuesday 16 Oct
Replies: 43
Views: 4381

Re: VG Short Term TIPS Launches Tuesday 16 Oct

I'm not that interested in ETFs, but it's curious that Vanguard will now have a short-term TIPS ETF but not one that replicates Vanguard Inflation-Protected Securities Fund.

My recollection is that Vanguard had trouble getting a previous TIPS ETF approved. Am I remembering that correctly?
by DetroitRed
Fri Oct 05, 2012 10:02 am
Forum: Investing - Theory, News & General
Topic: Were the Recent Vanguard Index Changes Really Necessary?
Replies: 46
Views: 3994

Re: Were the Recent Vanguard Index Changes Really Necessary?

Regarding Korea, surely it would have been evicted from the existing index before too long. I haven't looked at all the changes, but it's possible that some VG funds will now need the Korean equities that the emerging markets fund won't, so I'm not sure the transaction costs would have that much of...
by DetroitRed
Thu Oct 04, 2012 1:42 pm
Forum: Investing - Theory, News & General
Topic: Were the Recent Vanguard Index Changes Really Necessary?
Replies: 46
Views: 3994

Re: Were the Recent Vanguard Index Changes Really Necessary?

If it's all about costs like they say, then why doesn't Vanguard self index? They certainly have the brainpower to form their own indexes based on what they want. That way they don't have to keep changing every few years I'm not sure they're allowed to. BlackRock asked for SEC approval to use inter...
by DetroitRed
Wed Sep 26, 2012 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Cheat sheet of trigger income levels?
Replies: 11
Views: 1695

Re: Cheat sheet of trigger income levels?

Hi, Has anyone run across a cheat sheet of the various AGI and MAGI levels that cause things to happen? Some examples - for a joint return, over $142700 bumps you up a tax bracket The $142,700 joint return "tax bracket" number is not AGI or MAGI. It's taxable income, which includes all de...
by DetroitRed
Tue Sep 11, 2012 12:53 pm
Forum: Investing - Theory, News & General
Topic: Is your fund declaring a quarterly dividend in September?
Replies: 25
Views: 3220

Re: Is your fund is declaring a quarterly dividend in Septem

Note that the Intl funds are going to start paying quarterly dividends instead of doing it once a year. Total Intl and FTSE All-World ex-US will both be paying quarterly dividends in September.
by DetroitRed
Tue Sep 11, 2012 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Zero income taxes in retirement?
Replies: 48
Views: 4279

Re: Zero income taxes in retirement?

Similar to the comment about good pensions triggering higher taxable income, if you have very large 401(k) or traditional IRA balances, once you are required to do required minimum distributions (RMDs), you're going to have lots of taxable income. Does that mean you shouldn't try to accumulate large...
by DetroitRed
Wed Aug 22, 2012 10:01 am
Forum: Investing - Theory, News & General
Topic: Jeremy Seigel right or wrong on stocks/Gross
Replies: 6
Views: 1146

Re: Jeremy Seigel right or wrong on stocks/Gross

I'm fond of Charlie Munger's opinion on the relevance of 19th century stock return data. From an interview with Kiplinger's - m Q: [Kiplinger's] Ibbotson finds 10% average returns back to 1926, and Jeremy Siegel has found roughly the same back to 1802. A: [Munger] Jeremy Siegel's numbers are total b...
by DetroitRed
Wed Aug 08, 2012 12:39 pm
Forum: Personal Consumer Issues
Topic: Getting pricing for medical procedures in advance
Replies: 66
Views: 6903

Re: Getting pricing for medical procedures in advance

It's impossible. Been trying to deal with this sporadically for years. One problem is that many medical procedures, even "routine exams," are decision trees. The doctor decides what to do next depending on what has gone before. The surgeon doesn't wake you up in the middle of the operatio...
by DetroitRed
Fri Aug 03, 2012 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Bank Deposits--typical account balances for individuals?
Replies: 40
Views: 4547

Re: Bank Deposits--typical account balances for individuals?

The Survey of Consumer Finances (SCF) would have this data - m . They ask total value of checking accounts held by household (variable name: CHECKING) and total value of savings accounts held by household (variable name: SAVING). Unfortunately, you'd need to use the raw survey data to derive the ans...
by DetroitRed
Tue Jul 24, 2012 12:41 pm
Forum: Investing - Theory, News & General
Topic: Read John Norstads finance page
Replies: 11
Views: 2168

Re: Read John Norstads finance page

kalons wrote:http://www.httrack.com/


Interesting. Do you know if this will this save Excel spreadsheets that are part of a website? Thanks.
by DetroitRed
Tue Jul 24, 2012 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: TIAA Direct Bank Limitations
Replies: 5
Views: 851

Re: TIAA Direct Stops Accepting New Customers ‎

555 wrote:I was thinking about signing up but looks like I missed it. So that's one thing I can scratch from my "to do" list.


Didn't know they had a freeze on new accounts. Thanks for posting.
by DetroitRed
Wed Jul 11, 2012 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Price of Plastic Going Up? Merchants May Get Surcharge Right
Replies: 42
Views: 4394

Re: Price of Plastic Going Up? Merchants May Get Surcharge R

Ugh, I just hope there isn't a return to writing checks. For the first time in years I got stuck in the grocery checkout line last weekend behind a lady who wrote a check, wanted cash back, showed her ID, then proceeded to enter the check in her register and calculate the balance. Took well over a ...
by DetroitRed
Sun Jun 17, 2012 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy League Myths Uprooted
Replies: 288
Views: 22506

Re: Ivy League Myths Uprooted

Check Appendix Table 1 (school average SAT score) at the end of the paper to see that several, but not all, ivy league schools were included in the comparison. Both authors were from Princeton as well. While some ivy league schools are in the data, I don't believe the study makes any ivy v non-ivy ...
by DetroitRed
Tue May 01, 2012 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: "My Faith-Based Retirement" by Joe Nocera, NYT
Replies: 143
Views: 12131

Re: "My Faith-Based Retirement" by Joe Nocera, NYT

How America Saves 2011 . It's a big sample. [/quote] Per page 38, the median account balance for workers 55-64 is about $61,000. So half of all participants in that age bracket have less than $61,000. This amount doesn't include other retirement accounts, but only half of all employees have access ...
by DetroitRed
Tue Apr 17, 2012 10:12 am
Forum: Investing - Theory, News & General
Topic: Paper I bonds WILL be available via tax refund in 2012
Replies: 55
Views: 8337

Re: Paper I bonds WILL be available via tax refund in 2012

I also filed a paper return.

Didn't have any problems getting my $5k in paper I bonds.