Search found 3226 matches

by MikeG62
Mon Nov 23, 2020 7:50 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2543
Views: 414981

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

My guy mentioned something called an "index-linked annuity" from a company named Equitable. It kind of sounds too good to be true - you get the upside of the index, and a buffer of 10 or 20% on the downside. Then he said they came out with a new one called "Dual Direction" that ...
by MikeG62
Mon Nov 23, 2020 7:31 am
Forum: Personal Investments
Topic: Where to keep a large, and maybe necessary rainy-day fund?
Replies: 8
Views: 734

Re: Where to keep a large, and maybe necessary rainy-day fund?

You could go with a short-term CD (say around 12 months in duration). Choose one with a small EWP (most typical EWP I see for a 12 months CD is 90 days). This way if you "have to" break the CD it's not all that big a deal. Could open a few bank accounts for transfer bonuses. Again, if you ...
by MikeG62
Mon Nov 23, 2020 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Received Debit Card from Credit Union We Don't Use
Replies: 35
Views: 1605

Re: Received Debit Card from Credit Union We Don't Use

...We check the three main credit agencies every january, and I just pulled all three today and saw a hard pull for this credit union 10 days ago. Off topic, but I check each CR annually, but not at the same time. I do a different one every four months (and cycle through them so each gets checked o...
by MikeG62
Mon Nov 23, 2020 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Safety of ACH, or alternative ways?
Replies: 29
Views: 1877

Re: Safety of ACH, or alternative ways?

Thanks for all the comments. Just realized that banks have ACH limits on amounts up to 20K. And the monthly limits are not much higher either. This limit sounds low for a typical flagship client? What if one needs to move 100K or more? If one initiates ACH from Fidelity (i.e., doing a pull), is it ...
by MikeG62
Sun Nov 22, 2020 12:38 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2543
Views: 414981

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

This Chase Private Client Bonus says that the bonus ends 11/23/20. https://account.chase.com/consumer/banking/chaseprivateclient I would rather sign up in Dec, so I can postpone asset transfer until Jan and avoid having to deal with another 1099 this year. It seems that they extend the bonus every ...
by MikeG62
Sun Nov 22, 2020 12:33 pm
Forum: Investing - Theory, News & General
Topic: How to teach your kids about money/wealth
Replies: 23
Views: 1272

Re: How to teach your kids about money/wealth

I think the important thing is to talk about money matters as they grow up. This goes a long way to build the foundation and for them to get an idea of your money values. We've done a lot of the things you hear about including allowance, having them have a "clothing allowance" for back to...
by MikeG62
Sun Nov 22, 2020 11:58 am
Forum: Personal Investments
Topic: Where to park 2-3million temporarily?
Replies: 26
Views: 3326

Re: Where to park 2-3million temporarily?

Short-term Treasuries or Treasury only MMF if temporary.
by MikeG62
Sun Nov 22, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: High Interest Savings Account
Replies: 56
Views: 4233

Re: High Interest Savings Account

...Fortunately very early this year NFCU offered a one-time 17-month CD with add-on up to $75,000 at 2.25% APY. In view of what was going on at the time I jumped on that with a CD for both myself and my wife. They expire mid-summer of 2021 and I don't know where I will go then, maybe into the marke...
by MikeG62
Sun Nov 22, 2020 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth paying extra for more long term disabillity insurance?
Replies: 14
Views: 1184

Re: Is it worth paying extra for more long term disabillity insurance?

I never did. As far as I recall, my employer provided disability was either 60% or two-thirds of my salary. Since I felt it was significantly more than enough to cover our expenses in the event I was out on disability, I saw no need to pay to increase it (and given I considered going out on disabili...
by MikeG62
Sun Nov 22, 2020 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Redeploying funds from CDs
Replies: 3
Views: 341

Re: Redeploying funds from CDs

I've got a couple CDs that just matured and I chose to cash them in rather than renew. I'm thinking of depositing the funds in a brokerage account (different institution than where the CDs are from), but is there some "red flag" that happens when you deposit more than $10k that I need to ...
by MikeG62
Sun Nov 22, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Pandemic reduced our spending by 30% - How about you?
Replies: 100
Views: 5773

Re: Pandemic reduced our spending by 30% - How about you?

YTD October, our spending is 28% under budget and down 33% vs. the first 10 months of last year. For us, it's all about T&E. Our T&E spend is 72% below budget and a direct result of the pandemic. It's 95% of our variance to budget. Other categories of spend with sizable variances to budget i...
by MikeG62
Sat Nov 21, 2020 9:57 am
Forum: Personal Finance (Not Investing)
Topic: FDIC/SPIC insurance for brokerage account
Replies: 11
Views: 494

Re: FDIC/SPIC insurance for brokerage account

I have a Vanguard account and realized that in my IRA, I have over 500k in the Federal money market plus my stocks. With the way the economy is heading, I decided to read up on FDIC and SPIC insurance just in case a brokerage firm goes belly up. Am I covered up to 500k in my Vanguard IRA account in...
by MikeG62
Sat Nov 21, 2020 9:51 am
Forum: Personal Investments
Topic: Muni bonds in taxable
Replies: 21
Views: 3019

Re: Muni bonds in taxable

This is a relevant thread for me Slightly different question for me....I have several hundred K sitting in Tax Exempt Money Mkt Fund Admiral. I also have similar chunks in High Yield Tax Exempt and Intermediate Term Tax Exempt. Through last year I was holding a good chunk in the MMF as it was payin...
by MikeG62
Sat Nov 21, 2020 9:21 am
Forum: Investing - Theory, News & General
Topic: Help Me Understand
Replies: 26
Views: 1859

Re: Help Me Understand

...For the last 5 years or longer I have been hearing how bonds are a horrible investment and no one should own them. What am I missing, my balanced index fund has been great for this time frame and the last I checked is up 9.2%. Can someone tell me why all this negative news, yet my balanced index...
by MikeG62
Sat Nov 21, 2020 9:12 am
Forum: Personal Investments
Topic: Muni bonds in taxable
Replies: 21
Views: 3019

Re: Muni bonds in taxable

This is a relevant thread for me Slightly different question for me....I have several hundred K sitting in Tax Exempt Money Mkt Fund Admiral. I also have similar chunks in High Yield Tax Exempt and Intermediate Term Tax Exempt. Through last year I was holding a good chunk in the MMF as it was payin...
by MikeG62
Sat Nov 21, 2020 9:03 am
Forum: Personal Investments
Topic: Fidelity Tax Managed US Equity Index
Replies: 16
Views: 876

Re: Fidelity Tax Managed US Equity Index

I'd stay away from their separately managed accounts. I was pitched on this a couple of months ago by my Fidelity Private Client advisor. I passed on it. The big issue for me (aside from the annual fees) is even if the strategy does well, you will be handcuffed into this fee-based structure forever ...
by MikeG62
Sat Nov 21, 2020 8:53 am
Forum: Personal Investments
Topic: Where to safely park $200k
Replies: 24
Views: 3059

Re: Where to safely park $200k

I sold my condo and have $200k that I need to preserve and hopefully grow short term - I will be buying a new place sometime between 1 and 4 years from now. Some ideas I have: 1. The simplest/safest way is to put it in a HYSA (citi has 0.6%) and forget about it. I'll be losing on inflation but zero...
by MikeG62
Fri Nov 20, 2020 9:14 am
Forum: Personal Investments
Topic: Muni bonds in taxable
Replies: 21
Views: 3019

Re: Muni bonds in taxable

We had a sizable bond allotment in our taxable account, all of it tax exempt. When COVID-19 hit, we moved everything to Treasuries, opting for safety. The Fed is backstopping Munis right now, but we're staying in Treasuries and taking the tax consequences. This is not exactly true. The Fed did intr...
by MikeG62
Fri Nov 20, 2020 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Disclaiming an inheritance
Replies: 24
Views: 2921

Re: Disclaiming an inheritance

Thanks for the replies. Of course there is an estate atty on the matter, so his advice will be followed. Its just that lawyers are always so slow and deliberate....as you want them to be, of course, but dang, it can be frustrating! As I asked upthread, what does the will say in the event one or bot...
by MikeG62
Fri Nov 20, 2020 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Credit freeze and free credit report
Replies: 9
Views: 866

Re: Credit freeze and free credit report

It's never happened to me before. My CR's have been frozen for a number of years and I download one free report from each CRA each year.

Did you use this site to access your free CR?

https://www.annualcreditreport.com/index.action
by MikeG62
Thu Nov 19, 2020 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Disclaiming an inheritance
Replies: 24
Views: 2921

Re: Disclaiming an inheritance

I don't think that "disclaiming" allows you to designate an alternate beneficiary. If there is no contingent beneficiary for the portion disclaimed, then I think that portion disclaimed goes into the estate and is treated in accordance with the state's laws of intestate, because that port...
by MikeG62
Thu Nov 19, 2020 9:17 am
Forum: Personal Finance (Not Investing)
Topic: High Interest Savings Account
Replies: 56
Views: 4233

Re: High Interest Savings Account

Marcus by Goldman Sachs. Until recently they used to always have a slightly higher rate than Ally - now they seem pretty much to stay in lock step (they just dropped from 0.6 to 0.5 - I would guess Ally will drop to this as well in the coming week).. I have also used Synchrony although they seem to...
by MikeG62
Thu Nov 19, 2020 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Safety of ACH, or alternative ways?
Replies: 29
Views: 1877

Re: Safety of ACH, or alternative ways?

I believe you will similarly find ACH transfers very useful and freeing. Also, what a great thing to be able to deposit checks by simply taking a picture! Trips to the bank are rare! Hurrah! How do you deposit a check by taking a photo without having a financial app on your phone? I don't do this b...
by MikeG62
Thu Nov 19, 2020 8:43 am
Forum: Personal Finance (Not Investing)
Topic: PSA: Paypal can charge a different payment method than the one you selected... and won't tell you
Replies: 32
Views: 1960

Re: PSA: Paypal can charge a different payment method than the one you selected... and won't tell you

I too set up a PayPal account many, many years ago when I used to routinely purchase items from eBay (which nowadays is the exception and not the rule). Having said that, I do many online purchases using PayPal as the payment option. I then choose which CC I want to use once I get to the PayPal paym...
by MikeG62
Thu Nov 19, 2020 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Safety of ACH, or alternative ways?
Replies: 29
Views: 1877

Re: Safety of ACH, or alternative ways?

I'm an old man and old-fashioned. Deposit money at a bank branch; snail mail a check to Vanguard for investment, etc. Now with the pandemic I tried to avoid crowd. So it pushed me to think again about using ACH or other approaches to move money around without physically going outside. For example, ...
by MikeG62
Thu Nov 19, 2020 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of buying new car with cash
Replies: 55
Views: 3665

Re: Logistics of buying new car with cash

OP, wire transfers are not instantaneous. I've had them process within an hour (when placed in the morning) and I've had them take nearly all day (also even when placed early in the morning). So I don't think a wire transfer is a viable option. There is an option for a near instant transfer and that...
by MikeG62
Wed Nov 18, 2020 10:35 am
Forum: Personal Investments
Topic: Alternatives to not-so-high yield savings??
Replies: 21
Views: 1697

Re: Alternatives to not-so-high yield savings??

If you are willing to jump through some hoops there are higher yielding accounts. One good resource is Doctor of Credit --- https://www.doctorofcredit.com/high-interest-savings-to-get/. +1 The pickings are getting slimmer and slimmer, but you should be able to find a home at a yield well above what...
by MikeG62
Wed Nov 18, 2020 10:11 am
Forum: Personal Investments
Topic: What should the management fee be for bond ladder
Replies: 11
Views: 887

Re: What should the management fee be for bond ladder

Why don't you do it yourself? Because OP likely does not have the knowledge or access to the bonds that PIMCO does/has. Selecting among individual muni's requires more than a high level knowledge of muni's. FWIW, I own 36 individual muni bonds myself (multi-seven figure, but not high seven figure)....
by MikeG62
Wed Nov 18, 2020 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 712
Views: 82671

Re: Fidelity free Turbotax

https://www.fidelity.com/trading/active-trader-trading-service-levels The website seems to be more specific than in past years, in terms of "free TT" eligibility. Active traders who trade 120+ trades per calendar year and has one or more nonretirement account(s). Certain covered clients: ...
by MikeG62
Wed Nov 18, 2020 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Orthodontics Coverage
Replies: 15
Views: 733

Re: Orthodontics Coverage

I don't know the answer, but assume "once per lifetime" is for each insurer/policy. So you can't get orthodontia in 2020 and then again in 2025 with the same insurer or under the same policy. Sounds like it might/should work. Is the insurer different for each of you and your spouse? FWIW, ...
by MikeG62
Wed Nov 18, 2020 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Happily retired but seriously considering going back to work
Replies: 78
Views: 6363

Re: Happily retired but seriously considering going back to work

OP, this is a very personal decision. Having said that, are really interested in trading off the best/healthiest five of the remaining years of your life to work 40-50 hours per week? Especially, when you say you don't need the money. For me, that would be a hard no. Personally, I have no interest i...
by MikeG62
Tue Nov 17, 2020 3:59 pm
Forum: Investing - Theory, News & General
Topic: Fed up With Flagship
Replies: 272
Views: 16940

Re: Fed up With Flagship

Almost two years ago, people were annoyed at Vanguard for eliminated their Advantage service. Since then, they've also eliminated personal reps. Although there's still a special flagship support phone number, the wait times and rep cluelessness make me suspect it's all one big pot of customer servi...
by MikeG62
Tue Nov 17, 2020 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: [Marcus Savings Account - Interest rate is now 1.7%]
Replies: 222
Views: 29620

Re: [Marcus Savings Account - Interest rate is now 1.7%]

FYI: Marcus Savings Account APY is now 0.50% Interesting considering treasury yields are up across the boad from when the Marcus interest rate went to 0.6%. I am sure all the others will soon follow (Ally, Amex, etc.). Just trying to make sure I understand that statement. Are you saying treasury yi...
by MikeG62
Tue Nov 17, 2020 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: [Marcus Savings Account - Interest rate is now 1.7%]
Replies: 222
Views: 29620

Re: [Marcus Savings Account - Interest rate is now 1.7%]

Cranberry44 wrote: Tue Nov 17, 2020 12:33 pm FYI: Marcus Savings Account APY is now 0.50%
:annoyed
by MikeG62
Tue Nov 17, 2020 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Drafting Attorney as Trustee?
Replies: 9
Views: 641

Re: Thoughts on Drafting Attorney as Trustee?

... Bruce, Is it true that the beneficiary "could" legally act as the sole trustee if one wanted to permit that (with the ability to appoint a co-trustee in the event that were deemed necessary in the future). If it matters, assume the parties all live in NJ. Yes. Many people allow a bene...
by MikeG62
Tue Nov 17, 2020 10:33 am
Forum: Personal Investments
Topic: Should we start Vanguard PAS with .3% AUM fee?
Replies: 9
Views: 716

Re: Should we start Vanguard PAS with .3% AUM fee?

I think Vanguard PAS is a reasonable option in your situation. Whether you do it now or wait is up to you. Nothing wrong with outsourcing the management of your assets and VG is a a decent option (index approach and very low fees).
by MikeG62
Tue Nov 17, 2020 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Drafting Attorney as Trustee?
Replies: 9
Views: 641

Re: Thoughts on Drafting Attorney as Trustee?

Instead of giving the children the right to withdraw the trust assets at a specified age or ages, you could give each child effective control over his/her trust at a specified age or ages. For this purposes, control means the right to become a trustee , the power to remove and replace his/her co-tr...
by MikeG62
Tue Nov 17, 2020 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Record Keeping and Financial Statements - what to keep and how
Replies: 49
Views: 3070

Re: Record Keeping and Financial Statements - what to keep and how

...I think organization and naming is key to anyone who would have to follow you. As an example, click the desktop icon that says "Financial Records". It opens to folders for Accounts, Banks, Credit Cards, Fidelity, Vanguard, IRS and so forth. From there whatever you open is account by ac...
by MikeG62
Tue Nov 17, 2020 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Schwab Bank Cancels Overdraft Credit Line
Replies: 35
Views: 2468

Re: Schwab Bank Cancels Overdraft Credit Line

I received a notice on Saturday from BOA of the same for my personal checking, and our joint checking. The letter gave the helpful hint to log in and set accounts to have any overdrafts draw on a linked savings account. I went ahead and did so. My business account was already set up this way. I pro...
by MikeG62
Tue Nov 17, 2020 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Record Keeping and Financial Statements - what to keep and how
Replies: 49
Views: 3070

Re: Record Keeping and Financial Statements - what to keep and how

...I think organization and naming is key to anyone who would have to follow you. As an example, click the desktop icon that says "Financial Records". It opens to folders for Accounts, Banks, Credit Cards, Fidelity, Vanguard, IRS and so forth. From there whatever you open is account by ac...
by MikeG62
Tue Nov 17, 2020 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Check Copies Being Removed from Bank Statement
Replies: 16
Views: 1231

Re: Check Copies Being Removed from Bank Statement

We don't write checks all that often, but having said that BofA does include a picture of the front of any checks clearing within the statement. Also, the check image (front and back) are available to view online (for free).
by MikeG62
Mon Nov 16, 2020 9:44 am
Forum: Personal Finance (Not Investing)
Topic: COVID Dispute Reimbursements: Amex v. Chase
Replies: 4
Views: 630

Re: COVID Dispute Reimbursements: Amex v. Chase

Any luck with Ticketmaster ? I am going through the same thing - partial refund and haven't heard from them in months. They said they were waiting for payment from the venue? Yup, apparently the refund policy is set by the venue and the performer. Took a while (a few months) before we got a refund ...
by MikeG62
Mon Nov 16, 2020 8:40 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2543
Views: 414981

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

This Chase Private Client Bonus says that the bonus ends 11/23/20. https://account.chase.com/consumer/banking/chaseprivateclient I would rather sign up in Dec, so I can postpone asset transfer until Jan and avoid having to deal with another 1099 this year. It seems that they extend the bonus every ...
by MikeG62
Mon Nov 16, 2020 8:24 am
Forum: Personal Investments
Topic: Vanguard Personal Advisor Service - Give me your EXPERIENCE/PRACTICAL Advice on Use ??
Replies: 11
Views: 1651

Re: Vanguard Personal Advisor Service - Give me your EXPERIENCE/PRACTICAL Advice on Use ??

Does anyone out there have any PRACTICAL EXPERIENCE with this service, currently USES its AND would SIGN UP for it AGAIN ????? All PROs and CONs welcome. The fee of $15,000/year seems more that reasonable compared to my other financial firm at $50,000/year !! I have other conservative financial ass...
by MikeG62
Mon Nov 16, 2020 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Record Keeping and Financial Statements - what to keep and how
Replies: 49
Views: 3070

Re: Record Keeping and Financial Statements - what to keep and how

...I think organization and naming is key to anyone who would have to follow you. As an example, click the desktop icon that says "Financial Records". It opens to folders for Accounts, Banks, Credit Cards, Fidelity, Vanguard, IRS and so forth. From there whatever you open is account by ac...
by MikeG62
Mon Nov 16, 2020 7:55 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2543
Views: 414981

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

This Chase Private Client Bonus says that the bonus ends 11/23/20. https://account.chase.com/consumer/banking/chaseprivateclient I would rather sign up in Dec, so I can postpone asset transfer until Jan and avoid having to deal with another 1099 this year. It seems that they extend the bonus every ...
by MikeG62
Mon Nov 16, 2020 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Question about "Maintenance standard" or HEMS in a trust
Replies: 51
Views: 1970

Re: Question about "Maintenance standard" or HEMS in a trust

...At a high level, the more control the beneficiary exercises over the trust, the less likely it is the asset protection will be sustained. What goal is more important to you: maximum creditor protection or allowing your wife absolute control? I have the same question of the OP. If asset protectio...
by MikeG62
Mon Nov 16, 2020 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Record Keeping and Financial Statements - what to keep and how
Replies: 49
Views: 3070

Re: Record Keeping and Financial Statements - what to keep and how

I've always figured if I need statements later I can download them . I was reading through some older threads and a lot of Bogleheads were downloading and saving their account statements as PDFs on their computer. What happens if someone (like an executor) needs to figure out your financial life? T...
by MikeG62
Mon Nov 16, 2020 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Schwab Bank Cancels Overdraft Credit Line
Replies: 35
Views: 2468

Re: Schwab Bank Cancels Overdraft Credit Line

My Dad received an e-mail from BofA last week informing him that as of February 17, 2021 he would no longer be able to use his personal line of credit as overdraft protection on his BofA checking account. The communication indicated he would need another BofA product (such as a savings account, a se...
by MikeG62
Sun Nov 15, 2020 3:54 pm
Forum: Investing - Theory, News & General
Topic: Muni deep risk?
Replies: 43
Views: 3732

Re: Good Quality Munis Have Risks: Still a Good Bet?

Thankfully I have two add-on CD's at PSECU opened last November (one at 3.25% and one at 3.0%) where I am able to continue to invest $50K per month (and will do so every month until the month before those mature). That's a phenomenal opportunity you have! But aren't you concerned about exceeding th...