Search found 3086 matches

by MikeG62
Sat Aug 29, 2020 6:19 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4888
Views: 935094

Re: What's Your Credit Card Rewards Strategy?

Now that brokered CDs are pretty worthless, the problem is what assets to transfer in to BoA/Merrill to get that deal. The only fund I currently own is FFNOX (Fidelity Four-in-One), and I don't want to sell it (huge capital gains). I doubt that Merrill would hold that without me paying for it in so...
by MikeG62
Thu Aug 27, 2020 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Checking Amazon credit card statements
Replies: 21
Views: 1683

Re: Checking Amazon credit card statements

I scan the monthly statement for reasonableness when I download it to my computer (basically as soon as it becomes available). I do not tick and tie each line item to my orders history on Amazon. Sometimes the bill seems higher than I would have thought, but a quick scan of the charges reminds me of...
by MikeG62
Thu Aug 27, 2020 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing an online bank - How to factor in customer service?
Replies: 17
Views: 734

Re: Choosing an online bank - How to factor in customer service?

...What have folks done to evaluate customer service? Is there a web site that you used? Or did you just wing it & sign up for an account & hope for the best? Keep in mind that more (way more) people who are unhappy will write a review than those who are happy. When happy, people tend to go about l...
by MikeG62
Thu Aug 27, 2020 12:36 pm
Forum: Personal Investments
Topic: Marcus or Ally
Replies: 162
Views: 17572

Re: Marcus or Ally

Another couple of data point in the comparison between the two. ...... Good summary, thanks for the data points on transfer time and wires. At least for now: 1. Ally has basic checking, Marcus does not. Advantage Ally 2. Ally has better early withdrawal penalties on CDs. Advantage Ally I read somew...
by MikeG62
Thu Aug 27, 2020 9:50 am
Forum: Personal Investments
Topic: Marcus or Ally
Replies: 162
Views: 17572

Re: Marcus or Ally

Another couple of data point in the comparison between the two. Yesterday, I Initiated an ACH at Marcus (transferring funds to a CU) and the transfer was completed (arrived at the CU) by mid afternoon (same day). Ally still takes overnight to get funds where they need to go (via ACH). Advantage Marc...
by MikeG62
Thu Aug 27, 2020 9:15 am
Forum: Investing - Theory, News & General
Topic: Safe money in retirement
Replies: 5
Views: 854

Re: Safe money in retirement

Where should you keep your safe money that you need for retirement (30 years)? I subscribe to Bill Bernstein statement if "you won the game stop playing". Examples: FDIC banks, bond funds, treasury bond, etc The rest of my portfolio (40%) is invested in index funds. Thanks Paul Yes to FDIC banks, N...
by MikeG62
Thu Aug 27, 2020 9:10 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4888
Views: 935094

Re: What's Your Credit Card Rewards Strategy?

In addition to the hurdles that CC companies are putting up to get another bonus, I know Chase is starting to also clamp down on users who are "gaming" the system. I've heard numerous reports of Chase shutting down entire accounts because of perceived abuse. At some point, you have to ask yourself ...
by MikeG62
Thu Aug 27, 2020 8:40 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4888
Views: 935094

Re: What's Your Credit Card Rewards Strategy?

Reviving this thread to comment on some changes I've made in the last two months. As a result of Covid-19, DW and I are not traveling. Three of my airline branded CC's (Chase United, Barclays JetBlue and Citi American) anniversaried in the last month or two and I was being charged another annual fee...
by MikeG62
Thu Aug 27, 2020 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Sharing my adventure with banking solutions thus far
Replies: 2
Views: 488

Re: Sharing my adventure with banking solutions thus far

...I ended up deciding to open a Chase Private Client account today and am in process of transferring things over. It's all smooth and hassle free but the "JP Morgan Advisor" that I met with was salivating and tried to sell me on the managed products. [I suspect I'll get a sales pitch from the weal...
by MikeG62
Thu Aug 27, 2020 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Online bank - did you review bank financials before choosing?
Replies: 12
Views: 922

Re: Online bank - did you review bank financials before choosing?

I do not review financials before considering opening accounts at new banks or CU's. I do read reviews (primarily on Deposit Accounts) as well as any comments I can find here on the forum in order to try and get a feel for what the experience is going to be like as a customer of the financial instit...
by MikeG62
Wed Aug 26, 2020 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge bonus?
Replies: 30
Views: 2460

Re: Merrill Edge bonus?

This looks live for new accounts: https://www.merrilledge.com/offers/1000offer OP, here is the bonus you were looking for. Says it expires on 9/19, but I would not wait. Who knows if it gets pulled early. This is as good as I've seen it. FWIW, I did two $200K transfers (one for CMA and the other an...
by MikeG62
Wed Aug 26, 2020 11:00 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate CA$H not invested (to have available)
Replies: 10
Views: 835

Re: How to calculate CA$H not invested (to have available)

I have about 20% asset in cash (not including owned property) (savings/MM/CDs) <<-- Is this low or high ? (its about 4-5 years of living expenses) How is the 20% split across savings accounts, MM accounts/funds and CD's? Assuming CD's is a significant element of that category, what is the allocatio...
by MikeG62
Wed Aug 26, 2020 9:12 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate CA$H not invested (to have available)
Replies: 10
Views: 835

Re: How to calculate CA$H not invested (to have available)

I have about 20% asset in cash (not including owned property) (savings/MM/CDs) <<-- Is this low or high ? (its about 4-5 years of living expenses) How is the 20% split across savings accounts, MM accounts/funds and CD's? Assuming CD's is a significant element of that category, what is the allocatio...
by MikeG62
Wed Aug 26, 2020 8:28 am
Forum: Investing - Theory, News & General
Topic: Book recommendations for young adults/new investors
Replies: 21
Views: 1418

Re: Book recommendations for young adults/new investors

I was looking for a book on investing that I could use as a Christmas gift for two young adults this holiday season. I purchased "A Random Walk Down Wall Street" to review since it seemed like a good candidate. I think that this is a really good candidate because the book covers a lot of territory ...
by MikeG62
Wed Aug 26, 2020 8:20 am
Forum: Investing - Theory, News & General
Topic: NY municipal worth holding for long term investor?
Replies: 2
Views: 303

Re: NY municipal worth holding for long term investor?

I think I'd go with the national muni bond fund equivalent (either VWLTX or VWLUX) or split between the NY fund and the national fund. IMHO, the diversification benefit would outweigh the slightly larger tax advantage of the NY fund for a NYS resident.
by MikeG62
Wed Aug 26, 2020 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Maintenance and Repair of HVAC, Water Heaters, etc
Replies: 28
Views: 2482

Re: Maintenance and Repair of HVAC, Water Heaters, etc

I purchase maintenance plans for my HVAC systems (I have two) from my local electric/gas company. I think it's worthwhile (peace of mind). If there is an issue I schedule a visit (online) and can often get them out the same day (if scheduled early enough). That is important when it comes to HVAC. Ne...
by MikeG62
Wed Aug 26, 2020 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Please recommend me a credit card
Replies: 27
Views: 2703

Re: Please recommend me a credit card

If you want UR points the only answer is the Freedom Unlimited, which earns 1.5x UR points on everything with no limits. When you move the points to the Reserve card it works out to be a minimum of 2.25% back if you redeem the points through the portal or through Pay Yourself Back. The card has no ...
by MikeG62
Wed Aug 26, 2020 6:17 am
Forum: Personal Finance (Not Investing)
Topic: Experian Freeze Temporary Lift "Dirty Trick"/New Issue?
Replies: 13
Views: 1527

Re: Experian Freeze Temporary Lift "Dirty Trick"/New Issue?

Whenever I unfreeze, I do it for a few days. Want to provide time for the bank or CU or finance company to complete their review, especially now that many people are working remotely. I don't think leaving the credit reports open for a few days creates enough risk to worry about refreezing at the mo...
by MikeG62
Wed Aug 26, 2020 6:10 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate CA$H not invested (to have available)
Replies: 10
Views: 835

Re: How to calculate CA$H not invested

I think you'd get a more helpful response if you provide the asset allocation within the accounts. Does not need to be specific holdings, but equities vs. fixed income would help. Having said that, most here are going to tell you that 20% in what you call "cash" is too much. However, one might call ...
by MikeG62
Tue Aug 25, 2020 5:11 pm
Forum: Personal Investments
Topic: Wealth Management groups -- why used if don't make financial sense
Replies: 24
Views: 1553

Re: Wealth Management groups -- why used if don't make financial sense

anon_investor wrote: Tue Aug 25, 2020 4:30 pm Bottom line, people do not know any better...
^This (for the most part)

Read Where Are All The Customers Yachts, by Fred Schwed if you still have questions.
by MikeG62
Tue Aug 25, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Marcus Offering 1.1% No-Penalty CD to AARP Members
Replies: 50
Views: 5097

Re: Marcus Offering 1.1% No-Penalty CD to AARP Members

The rate on the AARP 8-month CD is now 0.85%. :( Thanks for the update. Figured it was too good to last too much longer. Good thing I opened three of them on Sunday (will fund at month end with proceeds from maturing CD). I'm not sure if the 10-day rate guarantee also applies to NP CDs. Compare the...
by MikeG62
Tue Aug 25, 2020 4:19 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2480
Views: 407617

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I opened an E-Trade account on Feb 21 with an in-kind transfer of $1M+5% buffer to harvest the $2500 promotion. By the time it landed it was 5% less than $1M, and kept cruising down, bottoming out over 25% down. Now it's up slightly since my transfer. So I didn't get the bonus I wanted, and now I'm...
by MikeG62
Tue Aug 25, 2020 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Finding balance in life: When do you let up off the gas?
Replies: 105
Views: 9722

Re: Finding balance in life: When do you let up off the gas?

We save approx 87% of our take home pay every year. spend some money and enjoy life. i understand that it might be difficult and might even be "painful" to be spending money after so many years of living frugally. but, we all have limited time on this earth and you should do something with all the ...
by MikeG62
Tue Aug 25, 2020 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Marcus Offering 1.1% No-Penalty CD to AARP Members
Replies: 50
Views: 5097

Re: Marcus Offering 1.1% No-Penalty CD to AARP Members

West of Chicago wrote: Tue Aug 25, 2020 9:48 am The rate on the AARP 8-month CD is now 0.85%. :(
Thanks for the update. Figured it was too good to last too much longer. Good thing I opened three of them on Sunday (will fund at month end with proceeds from maturing CD). Sadly, it's getting harder and harder to find places for excess cash.
by MikeG62
Tue Aug 25, 2020 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Poll of the retirees among us--spending in retirement
Replies: 76
Views: 6773

Re: Poll of the retirees among us--spending in retirement

In our 5th year of retirement, but too young to provide actual data to validate (or refute) the data provided in the Kitces article. Having said that, I think this trend requires a retired person/couple to have a decent amount of discretionary spend in the earlier part of retirement. There are many ...
by MikeG62
Tue Aug 25, 2020 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Transferring Money from Bank to Brokerage Account
Replies: 18
Views: 797

Re: Transferring Money from Bank to Brokerage Account

So after the accounts are linked, then initiate ACH on brokerage company's website? If you want to transfer $30,000 from megabank to brokerage, would you recommend doing it all at once or in ten $3,000 transfers? I would do it all at once. +1. I move funds all the time between brokers and banks and...
by MikeG62
Tue Aug 25, 2020 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity card fraud
Replies: 36
Views: 3973

Re: Fidelity card fraud

Just few weeks ago, Fidelity called and said a suspected charge was made on my CC. I have not used it in months. Anyway, Fidelity issued a new card. Now, I keep a watch on all transactions I have alerts set on pretty much all of my CC's for any transactions where the card was not present for the ch...
by MikeG62
Tue Aug 25, 2020 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Excess UM/UIM - Acuity or Stand Alone Umbrella?
Replies: 7
Views: 468

Re: Excess UM/UIM - Acuity or Stand Alone Umbrella?

...I'm also concerned about my family if there was to be a bad accident caused by someone else. $250k might not go very far if someone were paralyzed. For this same reason I elected to add $1.0 million of uninsured/underinsured motorist coverage to my $5.0 million umbrella liability policy. I pay $...
by MikeG62
Tue Aug 25, 2020 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Cancelling upcoming trip
Replies: 44
Views: 5462

Re: Cancelling upcoming trip

Did you charge this on a credit card? If the hotel won’t refund, I’d contest the hotel charge. It may not work, but there’s no reason not to try. I'd work the CC angle as well. Here's a situation where it worked. My in-laws had a trip to Portugal booked for April of 2020. This was a group trip with...
by MikeG62
Mon Aug 24, 2020 3:34 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2480
Views: 407617

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I opened 4 accounts at citi's brokerage to get a bonus and to take advantage of a relationship discount when refinancing. I've had accounts at Vanguard, Fidelity, ME, and etrade. Their platform is the worst by far. Bank accounts would not link with the brokerage accounts at first. Website is extrem...
by MikeG62
Mon Aug 24, 2020 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Marcus Offering 1.1% No-Penalty CD to AARP Members
Replies: 50
Views: 5097

Re: Marcus Offering 1.1% No-Penalty CD to AARP Members

What sorts of things do you get discounts on? Hotel stays for one. Dennys is another one. There are lots more. But are AARP discounts better than with AAA or with looking around a little on Groupon or credit card reward offers ? In my experience (and for the kinds of things we spend money on) no th...
by MikeG62
Mon Aug 24, 2020 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16773

Re: Do you talk to your friends/family/coworkers about this stuff?

Based on most conversations that I've had with coworkers over the past decade, many of them are apparently wizards at stock-picking and market-timing. My conservative Bogleheads approach is ridiculous to them, and there's nothing that I could possibly tell them. Ha ha, this is so true. The Boglehea...
by MikeG62
Sun Aug 23, 2020 5:23 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2480
Views: 407617

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

From reading the offer, it appears at a minimum a discussion with a Citi Wealth Advisor is necessary. https://banking.citi.com/cbol/investment/cpwm/default.htm?BT_TX=1&ProspectID=F6BE3A4D876A44D49B442FCFAA6B9966 Having been through this recently with Chase it’s a bit of a pain in the you know what....
by MikeG62
Sun Aug 23, 2020 5:01 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2480
Views: 407617

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Pretty good bonus from Citi Wealth Management https://www.doctorofcredit.com/citi-wealth-management-up-to-3500-bonus/ $500 for $50K transfer looks like the sweet spot. And you only have to keep it there 3-4 months (not completely clear). Apparently you can do a self directed account too, but the pr...
by MikeG62
Sun Aug 23, 2020 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Do you talk to your friends/family/coworkers about this stuff?
Replies: 210
Views: 16773

Re: Do you talk to your friends/family/coworkers about this stuff?

I don’t unless asked for the reasons already given by others above. However, when many family, friends and co-workers found out I was early retiring (at 53 and DW was SAHM for the 23 years prior), I did get a lot of “how were you able to do that” kind of questions. I got the impression that these fo...
by MikeG62
Sun Aug 23, 2020 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Data in the cloud?
Replies: 27
Views: 1405

Re: Data in the cloud?

I use both iCloud and OneDrive.

I keep my expense tracking (and some other) spreadsheets on OneDrive. I use iCloud largely for my account statements. Also have one folder on iCloud that I have given my oldest daughter shared access to (files relating to her 2022 wedding).
by MikeG62
Sun Aug 23, 2020 9:59 am
Forum: Personal Investments
Topic: CD being called.. bummer!
Replies: 25
Views: 2801

Re: CD being called.. bummer!

A 1.9% cd held in my Fidelity IRA is being called early... doesn't mature until 2022. Guess the issuing bank doesn't want to pay me 1.9% anymore since rates have dropped so much. So do I just keep the money parked in a money market paying essentially nothing? That is a bummer. Assume these will be ...
by MikeG62
Sun Aug 23, 2020 9:37 am
Forum: Personal Investments
Topic: Cash allocation after retirement...
Replies: 29
Views: 3116

Re: Cash allocation after retirement...

OP, nothing is typical. As others have said, you are going to get responses all over the map. Having said that, for the most part what you describe as cash I consider the short-end of our fixed income exposure. DW and I have a good deal of money invested at the short end of our FI exposure (comprise...
by MikeG62
Sun Aug 23, 2020 8:44 am
Forum: Personal Finance (Not Investing)
Topic: My experience with BoA / Merrill Edge
Replies: 18
Views: 1878

Re: My experience with BoA / Merrill Edge

I too am a long time (> two decades) customer of BofA for their checking account. Like you I identified the transfer bonus (was $900 for transferring in $200K at the time (Feb). I opened both a CMA and IRA account for 2X the transfer bonus (or $1,800). I also opened their premium rewards CC and met ...
by MikeG62
Sat Aug 22, 2020 8:46 am
Forum: Personal Investments
Topic: Is it time to hold cash instead of Bonds?
Replies: 76
Views: 10508

Re: Is it time to hold cash instead of Bonds?

I just moved my spending money for the next year out of Capital One when it went to .8%. I purchased seven no-penalty 8 month CDs at Marcus at the 1.1% AARP rate . I was already an AARP member but it only costs $12 to join. I'll be opening several in the next day or two myself as a temporary place ...
by MikeG62
Sat Aug 22, 2020 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard vs Fido vs Schwab as corporate trustee
Replies: 30
Views: 1688

Re: Vanguard vs Fido vs Schwab as corporate trustee

My wife and I will be updating our trusts very soon. Currently we have Vanguard set up as the corporate trustee but I am willing to change to another corporate trustee if there is a better choice out there. I am happy to have Vanguard choose investments as it sees fit but with the slow decline in c...
by MikeG62
Sat Aug 22, 2020 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Is insuring my wife’s wedding ring worth it?
Replies: 49
Views: 4859

Re: Is insuring my wife’s wedding ring worth it?

My wife and I got married 5 years ago and her ring is appraised for $17K. We have had insurance on the ring costing about $300 per year every year. So, we’ve paid about $1,500 for insurance over 5 years just in case something happens to it. But, since 5 year ago and now we have significantly improv...
by MikeG62
Fri Aug 21, 2020 9:31 am
Forum: Personal Investments
Topic: CDs coming due. Where to reinvest proceeds?
Replies: 62
Views: 6166

Re: CDs coming due. Where to reinvest proceeds?

I have a number of CDs maturing in the next few months. These served as bond alternatives, emergency fund and capital preservation. I do not depend upon their income for living expenses. Renewal rates are pathetically low (typically: 0.60% for 12 months) and are trending further down. What alternat...
by MikeG62
Fri Aug 21, 2020 8:57 am
Forum: Investing - Theory, News & General
Topic: Federal Reserve scraps transfer count limits on savings accounts
Replies: 56
Views: 5716

Re: Federal Reserve scraps transfer count limits on savings accounts

Wonder why banks (particularly online banks) have not responded by suspending the six transaction limit? I know Ally did (back in April), but no word from others like Marcus. I think you got it mixed up. Marcus removed the limits but not Ally. Ally only suspended the over-the-limit fee for a few mo...
by MikeG62
Fri Aug 21, 2020 6:13 am
Forum: Investing - Theory, News & General
Topic: Federal Reserve scraps transfer count limits on savings accounts
Replies: 56
Views: 5716

Re: Federal Reserve scraps transfer count limits on savings accounts

Update to Federal Reserve FAQ in late July 2020 indicates that this change is not temporary change: Are the recent amendments to Regulation D temporary or permanent? On April 24, 2020, the Board of Governors issued an interim final rule amending its Regulation D to delete the six-per-month limit on ...
by MikeG62
Thu Aug 20, 2020 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 853
Views: 110768

Re: Best CD rates thread

I just finished my Barksdale signup, and can verify that it's open to family of active military (among others). Immediate family is usually defined as parents, spouse, siblings, children. So you should qualify. Did you see something that specifically said you can't? I didn't see a message saying "y...
by MikeG62
Thu Aug 20, 2020 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 853
Views: 110768

Re: Best CD rates thread

Not a best rate, but to suggest that you shouldn't ignore your local brick and mortar bank. Talk to them in-person and don't go solely by the website rates. I just renewed a CD for my Mom at her local bank, which is a big regional bank. The automatic renewal rate for her 48 month CD was 0.05%. :sho...
by MikeG62
Thu Aug 20, 2020 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Best CD rates thread
Replies: 853
Views: 110768

Re: Best CD rates thread

:greedy Barksdale looks like a good option to consider now that their field of membership is extended to veterans. Thanks for the pointer. [...] Membership available to, among others, military and family of current or former military (much like Navy Federal). I qualified for NFCU since my son is act...
by MikeG62
Thu Aug 20, 2020 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Question about the "cash back" from AMEX Blue Cash Preferred
Replies: 7
Views: 703

Re: Question about the "cash back" from AMEX Blue Cash Preferred

I use the reward points from time to time as a statement credit. In my eyes, that is the same thing as cash back.
by MikeG62
Thu Aug 20, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity card fraud
Replies: 36
Views: 3973

Re: Fidelity card fraud

...When calling the card company, I learned that they requested a new replacement card with the same account number to be sent to a different address and they also added a travel notice to Canada. The charge was made from Ontario Canada. I don't understand how/why they would send a replacement card...