Search found 3123 matches

by MikeG62
Wed Oct 07, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Monthly Budget Comparisons
Replies: 68
Views: 4884

Re: Monthly Budget Comparisons

Hi all, I'm looking at our family's current spending and feeling like we should be spending significantly less each month. My wife and I aren't the type that go out and buy a bunch of expensive clothes or items for us; however, we do spend above average on food. We have a 5 and 3 year old girls, an...
by MikeG62
Wed Oct 07, 2020 8:06 am
Forum: Personal Finance (Not Investing)
Topic: negotiate health care after retirement?
Replies: 5
Views: 434

Re: negotiate health care after retirement?

Might depend on how their plan document is written (who is eligible to participate). I doubt non-employees will be permitted, but I could be wrong.

COBRA would certainly be an option for 18 months (I believe that is the time period for COBRA).

Report back if you find otherwise.
by MikeG62
Tue Oct 06, 2020 1:00 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2489
Views: 409105

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

My Chase PC $2,000 bonus posted today. Account was funded on July 1, 2020. Offer terms required assets to be at JPM/Chase for 90 days and bonus to pay within 30 business days after meeting that requirement. In my case it was just a few business days after meeting the 90-day requirement. AFAIK, there...
by MikeG62
Tue Oct 06, 2020 8:58 am
Forum: Investing - Theory, News & General
Topic: another question of short term bonds: VSCSX
Replies: 10
Views: 880

Re: another question of short term bonds: VSCSX

...Looking at VSCSX under current conditions, and noting that banks are among the top holdings of both it and VFSTX VSCSX is reported as: SEC yield of 0.86 w/ er of .07 and a 2.79 yr duration with: AAA 0.5% AA 8.9% A 44.9% BBB 45.7% 46% of the fund in BBB paper and SEC yield of 0.86% - no thanks. W...
by MikeG62
Tue Oct 06, 2020 8:49 am
Forum: Personal Investments
Topic: Any other places to park cash?
Replies: 8
Views: 1312

Re: Any other places to park cash?

I have a capital one 360 and a Marcus by Goldman online savings account that I keep cash in, however with the very low interest rates now, are there any better places to park my cash? This is money I will be using within three years so do not want to invest in the market. Bonds? CD Ladder? Money Ma...
by MikeG62
Tue Oct 06, 2020 7:03 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2489
Views: 409105

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

...Any solutions or input on how you kept your records/lots straight when transferring assets? I took screenshots of the tax lots before initiating the transfer. I spoke with rep's at the destination broker and emphasized the importance of maintaining the tax lots. Was assured in every case that it...
by MikeG62
Mon Oct 05, 2020 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Pay Yourself Back
Replies: 46
Views: 6499

Re: Chase Sapphire Pay Yourself Back

DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days. Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming th...
by MikeG62
Mon Oct 05, 2020 8:52 am
Forum: Investing - Theory, News & General
Topic: Rethinking bonds
Replies: 78
Views: 8142

Re: Rethinking bonds

...I'm not saying I have any good alternatives but I agree with Malkiel that Bonds are not a great choice at this time, but I don't necessarily agree with his alternative of using blue chip equities. Agree on both points. I am using traditional CD's as an alternative to bonds in this environment. N...
by MikeG62
Mon Oct 05, 2020 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Pay Yourself Back
Replies: 46
Views: 6499

Re: Chase Sapphire Pay Yourself Back

DW just applied and was approved for Chase Sapphire Preferred card. 80,000 UR points after spending $4,000 in the first 90-days. Once earned, these UR points will be transferred to (pooled with) my account where I can use them to harvest $1,200 in Pay Yourself cash back (actually $1,260 assuming the...
by MikeG62
Sun Oct 04, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella policy exclusion
Replies: 10
Views: 1322

Re: Umbrella policy exclusion

I think this just means that the umbrella is purely excess, above the underlying auto policy. That is typical for umbrella insurance. I don't read it as requiring that your auto insurance be with the same company . In theory, having both policies with the same company might avoid finger pointing as...
by MikeG62
Sun Oct 04, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella policy exclusion
Replies: 10
Views: 1322

Re: Umbrella policy exclusion

I think this just means that the umbrella is purely excess, above the underlying auto policy. That is typical for umbrella insurance. I don't read it as requiring that your auto insurance be with the same company . In theory, having both policies with the same company might avoid finger pointing as...
by MikeG62
Sat Oct 03, 2020 8:21 am
Forum: Investing - Theory, News & General
Topic: Treasurys no longer provide the ballast for a portfolio
Replies: 106
Views: 8389

Re: Treasurys no longer provide the ballast for a portfolio

...but what about some of us in the 60s, 70s, and 80s? CD ladder. Principle is guaranteed and will never go down. Pick anywhere from short duration to long duration as long as it matches your investment length. There are also T-bills and I bonds. +1 on CD's. They now represent almost 50% of my fixe...
by MikeG62
Sat Oct 03, 2020 8:08 am
Forum: Personal Investments
Topic: Should I be using money market funds instead of bonds?
Replies: 24
Views: 2200

Re: Should I be using money market funds instead of bonds?

With the extremely low expected yield of bonds, what are Boglehead thoughts of investing in money market funds instead? I would have access to VMFXX (Vanguard Federal Money Market Fund Investor Shares). I am 35 years old and currently have 15% in bonds for what it's worth. I am not that familiar wi...
by MikeG62
Fri Oct 02, 2020 8:09 am
Forum: Investing - Theory, News & General
Topic: Where do you put cash now? Vanguard's Prime Money Market is too low!
Replies: 80
Views: 14121

Re: Where do you put cash now? Vanguard's Prime Money Market is too low!

Seems like only yesterday when all the Vanguard MM funds were yielding close to 5%. Those were the good old days for retirees like me. I was lazy and had quite a lot of $$ there. But decided a few months ago to move most of my MM $$ to something with a measurable yield. I'm now mostly in VSGDX - th...
by MikeG62
Fri Oct 02, 2020 7:51 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4897
Views: 937336

Re: What's Your Credit Card Rewards Strategy?

- 5.25% on dining/bars - 5.25% on travel - 5.25% on online - 3.5% on groceries (including Costco!) - 2.625% on everything else (and no international fee) I can get these cash back rates on the Bank of America Cash Rewards card? If that it is the correct name of the card, I need to get it right away...
by MikeG62
Fri Oct 02, 2020 7:00 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4897
Views: 937336

Re: What's Your Credit Card Rewards Strategy?

Marriot Bonvoy Boundless is offering a 250,000 point bonus for the first time (five free award nights). That's extremely misleading, 250k Marriott pts would be a significantly better offer than 5 nights because (a) nights are only good for a year and points are good for as long as your account is a...
by MikeG62
Thu Oct 01, 2020 9:16 am
Forum: Personal Investments
Topic: Morgan Stanley/ JP Morgan Chase
Replies: 4
Views: 683

Re: Morgan Stanley/ JP Morgan Chase

I opened a regular brokerage account with JP Morgan to get their recent $2,000 bonus - not a YouInvest account. There is no AUM fee. I have as well. Had to talk the JPM advisor down a few times (and even threaten the Chase PC banker that I would pull the plug on the process if the JPM advisor did n...
by MikeG62
Thu Oct 01, 2020 8:48 am
Forum: Personal Investments
Topic: Terrible on-boarding experience with Vanguard-- keep going?
Replies: 45
Views: 3592

Re: Terrible on-boarding experience with Vanguard-- keep going?

Here's my recent experience with VG onboarding - in the process of helping my SIL get into Vanguard PAS. She transferred her IRA from Chase to VG based upon my advice. We had a call with a VG advisor on Sept 2. Follow up call scheduled for Sept 15. On Sept 15, we waited and waited for the call that ...
by MikeG62
Thu Oct 01, 2020 8:31 am
Forum: Personal Investments
Topic: Cash in mutual funds
Replies: 17
Views: 1732

Re: Cash in mutual funds

I count it as part of the fund. In this case, it would be fixed income.

The fund should not be holding a large allocation to cash anyway so this is unlikely to be much of an issue.
by MikeG62
Thu Oct 01, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America removed "My Portfolio" function?!? What to use now?
Replies: 17
Views: 1914

Re: Bank of America removed "My Portfolio" function?!? What to use now?

Fidelity just revamped their Portfolio function where you can add other accounts (investments, savings), directly linked if you so choose. It is much better than their previous version and what Vanguard offers. They also have an analyses function which analyze your portfolio like the Morningstar x-...
by MikeG62
Wed Sep 30, 2020 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Pay Yourself Back
Replies: 46
Views: 6499

Re: Chase Sapphire Pay Yourself Back

I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per...
by MikeG62
Tue Sep 29, 2020 10:04 am
Forum: Investing - Theory, News & General
Topic: Retirees spending question
Replies: 41
Views: 3519

Re: Retirees spending question

To those that have retired, do you find that the often-cited inflation number of ~2% is accurate? It is hard to say since some items are difficult to track in that manner (such as spend on groceries or clothing or restaurants pr T&E). You can do it only for certain expense categories like real esta...
by MikeG62
Tue Sep 29, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Friend on the verge of financial ruin, how to help?
Replies: 137
Views: 15705

Re: Friend on the verge of financial ruin, how to help?

While it sounds harsh... " I have encouraged her to look for less demanding work, but she claims she cannot afford to do this and still be able to retire at 65 when she will be eligible for Medicare." Some folks simply have to work past 65 to have any form of security in retirement, or to even be a...
by MikeG62
Tue Sep 29, 2020 8:31 am
Forum: Personal Finance (Not Investing)
Topic: 401K Overpayment - Ex Employer Asking for Money Back
Replies: 166
Views: 10613

Re: 401K Overpayment - Ex Employer Asking for Money Back

Ok thanks all, I guess from what I'm hearing the best course of action might be to ignore it (for now), wait to see if they contact me again. If they do, I will write up a letter demanding proof along with a request for confirmation that they will cover any legal/tax expenses. So, if they do not co...
by MikeG62
Tue Sep 29, 2020 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Pay Yourself Back
Replies: 46
Views: 6499

Re: Chase Sapphire Pay Yourself Back

I've redeemed 102,000 points using the PYB option since it was announced for ~$1,500 in cash back. I still have 250,000 points remaining, which I am inclined to hold onto since I expect there will be a time when we resume travel and I believe I'll be able to harvest them for more than 1.5 cents per ...
by MikeG62
Tue Sep 29, 2020 8:00 am
Forum: Personal Finance (Not Investing)
Topic: 401K Overpayment - Ex Employer Asking for Money Back
Replies: 166
Views: 10613

Re: 401K Overpayment - Ex Employer Asking for Money Back

Thanks for all the replies. Still a bit confused though. :D I did post in another forum that encouraged reaching out to the plan administrator, although one person noted that no one ever pays these overpayments back. Why should I be the first one to do so? I mean this was five years ago that I stop...
by MikeG62
Mon Sep 28, 2020 4:48 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2489
Views: 409105

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Is traditional IRA account eligible for $2K CPC offer? Or is this for taxable accounts only? Thanks. Yes, non-Chase IRAs are eligible. Thanks, that was quick! Reading the T&Cs it's not clearly spelled out. I assume you did transfer IRA account? Thanks again. Yes, I transferred Roth accounts. Thanks...
by MikeG62
Mon Sep 28, 2020 8:04 am
Forum: Personal Investments
Topic: Is this a perfect time to pile into a 3% yield, net of fees, stable value fund?
Replies: 21
Views: 3346

Re: Is this a perfect time to pile into a 3% yield, net of fees, stable value fund?

Some will call it market timing, whatever. One of our 401k's has a stable value fund that has been paying 3% annually since at least 2009. We only have about 2.5% (of total of all accounts) in there at the moment, the only other fixed income choice is a junk bond fund (presumably to prevent people ...
by MikeG62
Mon Sep 28, 2020 7:47 am
Forum: Personal Investments
Topic: Are US REITs undervalued relative to other asset classes?
Replies: 8
Views: 681

Re: Are US REITs undervalued relative to other asset classes?

If people are working from home, who is occupying the office buildings? What is the demand for office space? If people are traveling less, who is staying in hotels? Does the cost of upkeep just pay for itself? If people don’t visit malls, who is paying for store front retail space? I agree with all...
by MikeG62
Mon Sep 28, 2020 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Schwab closed my checking $0 account without a warning. Is that common?
Replies: 26
Views: 2305

Re: Schwab closed my checking $0 account without a warning. Is that common?

Marcus closed my DW's online savings account after a period of inactivity. However, Marcus did send her more than one notice that if the account remained inactive they would close it. We allowed them to close it as the account was only opened for the transfer bonus they put in place in the summer of...
by MikeG62
Mon Sep 28, 2020 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Friend on the verge of financial ruin, how to help?
Replies: 137
Views: 15705

Re: Friend on the verge of financial ruin, how to help?

Very good input here, thank you. I’ve known this friend for 40 years and she is like a sister to me. I suspect if the situation were reversed she would offer to help me. Her daughter shares an apartment with a boyfriend, so moving out would be complicated. I had previously offered to help with medi...
by MikeG62
Mon Sep 28, 2020 7:27 am
Forum: Personal Finance (Not Investing)
Topic: How much do you pay for healthcare (50-65 year olds)
Replies: 83
Views: 8842

Re: How much do you pay for healthcare (50-65 year olds)

One thing to be aware of with ACA plans is that unlike Employer plans your premium is based on your age. So next year your premium will be higher simply because you're a year older, regardless of any overall increases in the rate schedule. And the overall increases have been in the 20%/yr range. He...
by MikeG62
Sun Sep 27, 2020 5:14 pm
Forum: Investing - Theory, News & General
Topic: Were you nervous when you retired?
Replies: 98
Views: 10092

Re: Were you nervous when you retired?

I retired after my company was acquired and the senior executive team (of which I was a member) were, following a transition period, exited from the company. So it wasn’t exactly a retirement at the time of my choosing. Having said that, I had been planning to retire for a long time so I was not ner...
by MikeG62
Sun Sep 27, 2020 5:06 pm
Forum: Investing - Theory, News & General
Topic: Retirees spending question
Replies: 41
Views: 3519

Re: Retirees spending question

Considerably more due to (1) travel and entertainment and (2) health care costs.

I’d add as well that while working we lived well below our means (saving for retirement). In retirement, we are living up to the level of our means.
by MikeG62
Sun Sep 27, 2020 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you pay for healthcare (50-65 year olds)
Replies: 83
Views: 8842

Re: How much do you pay for healthcare (50-65 year olds)

DW and I are retired in NJ. We do not qualify for any subsidies. Here are out total health care costs (premiums + out-of-pocket co-pays/co-insurance) each of the last three years: 2017 = $19.0K 2018 = $25.6K 2019 = $19.8K I have had a bronze level plan (HSA in ‘18 & ‘19) each year and my wife a sil...
by MikeG62
Sun Sep 27, 2020 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you pay for healthcare (50-65 year olds)
Replies: 83
Views: 8842

Re: How much do you pay for healthcare (50-65 year olds)

DW and I are retired in NJ. We do not qualify for any subsidies. Here are out total health care costs (premiums + out-of-pocket co-pays/co-insurance) each of the last three years: 2017 = $19.0K 2018 = $25.6K 2019 = $19.8K I have had a bronze level plan (HSA in ‘18 & ‘19) each year and my wife a silv...
by MikeG62
Sun Sep 27, 2020 10:11 am
Forum: Personal Investments
Topic: Guidance for breaking the news to our financial advisor
Replies: 60
Views: 5225

Re: Guidance for breaking the news to our financial advisor

There was no easy, painless way to way to go about it. He took it quite personally and we regret that he felt blindsided. He told us that he respected our decision, but believed we were making a mistake. What else would he say? Onward. I would not expect him to have responded much differently. The ...
by MikeG62
Sat Sep 26, 2020 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: At what networth is okay to splurge on a 200k car ? (Tesla roadster)
Replies: 159
Views: 10697

Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Dennisl wrote: Sat Sep 26, 2020 7:13 pm By the time you can afford it, you probably won’t want it anymore.
^Sadly, this is likely to true.
by MikeG62
Sat Sep 26, 2020 8:59 am
Forum: Personal Finance (Not Investing)
Topic: At what networth is okay to splurge on a 200k car ? (Tesla roadster)
Replies: 159
Views: 10697

Re: At what networth is okay to splurge on a 200k car ? (Tesla roadster)

Hi all, Still young and in the accumulation phase. Was wondering what networth you need to be able to buy a 200k car , even if it extends your retirement age by a couple of years ? Note, car would be paid for in all cash. Thanks. edit: For those of you wondering about my financials ... I have a net...
by MikeG62
Sat Sep 26, 2020 7:55 am
Forum: Investing - Theory, News & General
Topic: My Fido retirement meeting pushing me to SMA
Replies: 92
Views: 9644

Re: My Fido retirement meeting pushing me to SMA

I looked at a Fidelity SMA also. The one I was somewhat interested in was a tax managed account that bought a group of stocks to match the S&P 500 and would do TLH and claimed as a result a small increase in return as compared to the comparable index fund. Cost was 50 basis points of AUM. The SMA w...
by MikeG62
Fri Sep 25, 2020 1:00 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2489
Views: 409105

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Just got off the phone with my Private Client Advisor at Fidelity. After having to endure his pitch on why I should be using SMA’s and how Fidelity could help me buy some MYGA’s, he mentioned to me that Fidelity is dipping their toe back in the transfer bonus game waters. Not in a big way, but bette...
by MikeG62
Fri Sep 25, 2020 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank savings interest rate dropping from 0.8% to 0.6%
Replies: 117
Views: 10657

Re: Ally Bank savings interest rate dropping from 0.8% to 0.6%

Wow, how low can it go? Mediocre environment for savers. What’s worse is that we can expect this environment for at least a couple of years as the Fed plans to keep its interest rates at 0% for that time. What does not make sense is that I remember Ally offering almost 1% on their savings account w...
by MikeG62
Fri Sep 25, 2020 8:02 am
Forum: Personal Investments
Topic: Which Merrill Edge deposit account (preferred deposit or money market) should I choose?
Replies: 6
Views: 710

Re: Which Merrill Edge deposit account (preferred deposit or money market) should I choose?

I'm having a hard time choosing which deposit account I should choose. Merrill Edge has a really bad sweeps account earning no interest so since I have the 100k needed for the initial investment minimum for these other options, I'm trying to decide which one to use... OP, you'd be much better off t...
by MikeG62
Fri Sep 25, 2020 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank savings interest rate dropping from 0.8% to 0.6%
Replies: 117
Views: 10657

Re: Ally Bank savings interest rate dropping from 0.8% to 0.6%

Just opened a few No Penalty CD's @ .75 These rates keep dropping. 😡 Are you sure there is no early withdrawal penalty? According to Ally web site, there is a penalty of 60 days of interest for CDs of 24 months or less duration with an exception, " We'll waive the early withdrawal penalty if the de...
by MikeG62
Fri Sep 25, 2020 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank savings interest rate dropping from 0.8% to 0.6%
Replies: 117
Views: 10657

Re: Ally Bank savings interest rate dropping from 0.8% to 0.6%

With 0% interest rates and savers getting decimated now with interest rates earning .6%. Fed target is inflation is 2% and they said they are okay running with a range of 2-3% inflation. With the money supply expanding. M2 money supply expanded from 15.5T to 18.4T. That is almost a 20% increase fro...
by MikeG62
Thu Sep 24, 2020 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for young people
Replies: 15
Views: 1877

Re: Advice for young people

OP, I’m going to go with the others here and offer career advice over investment advice at this very early stage of your career. Read through my post here as it captures everything I’d want to communicate in one place. https://www.bogleheads.org/forum/viewtopic.php?f=2&t=161092&p=4516232&hilit=Work+...
by MikeG62
Thu Sep 24, 2020 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4897
Views: 937336

Re: What's Your Credit Card Rewards Strategy?

I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years. I think what Mike is talking about isn't the lookback period - bu...
by MikeG62
Thu Sep 24, 2020 4:47 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2489
Views: 409105

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I have about 40k-50K at TD that I would like to either move somewhere else to get a bonus offer or keep at TD, if they have some sort of retention offer. My question is: 1) How should I approach TD in asking for a matching retention offer? What would one say? 2) Is 40k too low of an amount for them...
by MikeG62
Thu Sep 24, 2020 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 688
Views: 162096

Re: Bank of America/Merrill Edge - Preferred Rewards

I have a BOA preferred rewards joint account with my wife with currently 80k sitting in the checking account. We are enrolled in Preferred Rewards platinum and also have 7k total with ME 529 for two kids. I want to keep 30k for emergency fund as this is our only bank account. What would be the best...
by MikeG62
Thu Sep 24, 2020 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 688
Views: 162096

Re: Bank of America/Merrill Edge - Preferred Rewards

I have a BOA preferred rewards joint account with my wife with currently 80k sitting in the checking account. We are enrolled in Preferred Rewards platinum and also have 7k total with ME 529 for two kids. I want to keep 30k for emergency fund as this is our only bank account. What would be the best...