Search found 483 matches

by Gamma Ray
Thu Mar 30, 2017 1:58 pm
Forum: Personal Investments
Topic: Few questions to those who switched to Ally Checking
Replies: 71
Views: 11965

Re: Few questions to those who switched to Ally Checking

Thanks for the replies, I added joint account and my wife's details to the account, maybe that's what's holding up? It's surprising (unless I screwed up my wife's SSN) Also thank you for giving me info on deposits not counting against transaction limit. That's good, I can line up my due dates on my ...
by Gamma Ray
Thu Mar 30, 2017 11:25 am
Forum: Personal Investments
Topic: Few questions to those who switched to Ally Checking
Replies: 71
Views: 11965

Re: Few questions to those who switched to Ally Checking

Ally checking is .10%, MM is .85% and savings is 1.00% I was thinking about $15,000 in checking which gives you 0.60%. Not a big difference on $15k to save the hassles and headache of trying to keep up with limited number of transactions and other issues especially since Ally calculates interested ...
by Gamma Ray
Thu Mar 30, 2017 1:01 am
Forum: Personal Investments
Topic: Few questions to those who switched to Ally Checking
Replies: 71
Views: 11965

Re: Few questions to those who switched to Ally Checking

The 0.6% is only available if your balance is over $15k. How much cash do you NEED in checking on a regular basis? I ask because you can get 1.0% in Ally Savings. Transfers between Savings and Checking are instant (or can be scheduled for future dates). You can also set up an automatic overdraft wi...
by Gamma Ray
Thu Mar 30, 2017 12:26 am
Forum: Personal Investments
Topic: Best CDs?
Replies: 2
Views: 781

Re: Best CDs?

There is also so much info on these boards because some of those sites can be overwhelming, although Depositaccounts is one of the best. I noticed more and more sites push their own partner banks, and totally leave out others who don't pay them. I wish bogleheads wiki had a special section for CDs, ...
by Gamma Ray
Wed Mar 29, 2017 7:30 pm
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 16200

Re: PurePoint 1.25% online savings $10K min

inbox788 wrote:FYI, my joint account got kicked out. When I called to ask why, the said that they wanted to talk to both applicants on the same call. I still have to schedule a meeting to do that. They have limited hours (not 24/7).
What could cause the account to be kicked out? We are talking about CO 360, right?
by Gamma Ray
Wed Mar 29, 2017 9:45 am
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 16200

Re: PurePoint 1.25% online savings $10K min

I post this every time I see a thread mentioning Capital One Bank or Capital One 360: Note that they don't allow the designating of beneficiaries (unless it's an IRA), so if something happens the cash will be unavailable until the probate court give's the executor permission to distribute. How abou...
by Gamma Ray
Wed Mar 29, 2017 9:43 am
Forum: Personal Investments
Topic: Few questions to those who switched to Ally Checking
Replies: 71
Views: 11965

Re: Few questions to those who switched to Ally Checking

Thanks for all other replies. I have my first $15,000 in a Lake Michigan Credit Union MAX checking account; the rest of savings is at Ally. The Max checking account requires you to satisfy a few requirements each month to earn 3% interest -- direct deposit, 10 point-of-purchase debit card transactio...
by Gamma Ray
Wed Mar 29, 2017 12:51 am
Forum: Personal Investments
Topic: Few questions to those who switched to Ally Checking
Replies: 71
Views: 11965

Few questions to those who switched to Ally Checking

I just noticed Ally Checking has %0.6 interest, so I am considering getting rid of Citi & Chase and going with Ally, completely. Few questions I have are as following Do you ever have a situation where mobile deposit isn't accepted and they ask you to mail it in, if so how long does it take for ...
by Gamma Ray
Wed Mar 29, 2017 12:39 am
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 16200

Re: PurePoint 1.25% online savings $10K min

I post this every time I see a thread mentioning Capital One Bank or Capital One 360: Note that they don't allow the designating of beneficiaries (unless it's an IRA), so if something happens the cash will be unavailable until the probate court give's the executor permission to distribute. How abou...
by Gamma Ray
Wed Mar 29, 2017 12:29 am
Forum: Personal Investments
Topic: Any opinion on Popular Direct?
Replies: 19
Views: 4137

Re: Any opinion on Popular Direct?

These guys are offering 1.9% APY on a 3 yr CD now. Not too shabby. Not bad at all although the automatic renewal seems to be the default option with no way to select terminate at maturity upfront. Missing that window might mean autorenewal and that can wipe up savings, coupled with 1 year penalty W...
by Gamma Ray
Tue Mar 28, 2017 12:33 am
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 16200

Re: PurePoint 1.25% online savings $10K min

How about Memory Bank with 1.5% up to $250k?

http://www.mymemorybank.com/home/earnmore-account
Forget it, it says 1st year..
by Gamma Ray
Tue Mar 28, 2017 12:16 am
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 16200

Re: PurePoint 1.25% online savings $10K min

One downside: yet another institution having your confidential info. So, potential hacks into this bank puts your identity at more risk. Also, depending on how this bank shares your info with "affiliates" (even if you limit sharing, it takes some time before such settings take effect, dep...
by Gamma Ray
Tue Mar 28, 2017 12:08 am
Forum: Personal Finance (Not Investing)
Topic: [Taxes] Can we deduct music lessons cost for child in New York State?
Replies: 13
Views: 2783

Re: [Taxes] Can we deduct music lessons cost for child in New York State?

(which has its own income tax on NYC residents). Sadly... However, NYC's property tax on residences is very low, a small fraction of what it is in the suburbs. Some people move to the suburbs to save income taxes, and other people move to the city to save real estate taxes. I am in the city and pay...
by Gamma Ray
Mon Mar 27, 2017 12:21 am
Forum: Personal Finance (Not Investing)
Topic: [Taxes] Can we deduct music lessons cost for child in New York State?
Replies: 13
Views: 2783

Re: [Taxes] Can we deduct music lessons cost for child in New York State?

bsteiner wrote:(which has its own income tax on NYC residents).
Sadly...
by Gamma Ray
Sun Mar 26, 2017 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Citi card Nightmare
Replies: 75
Views: 11865

Re: Citi card Nightmare

Near 275k in about 5 accounts total. I don't have any taxable investments, I am maxed out on tax free/taxdeferred retirement family allowance so I don't like to put more money into market. I've been waiting for CD rates to go up so I can do at least $100k there, but that isn't happening either. You...
by Gamma Ray
Sun Mar 26, 2017 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Is there any downside to Home Equity line of credit even if we won't use it immediately?
Replies: 24
Views: 5256

Re: Is there any downside to Home Equity line of credit even if we won't use it immediately?

obgraham, Thanks, yes interest is slightly higher, but I suppose if I buy a 2nd home, the interest will still be higher or I would be required to put down more than usual to get that house, so it's either %1 higher interest or higher down paypayment, or whatever add'l interest bank will charge for ...
by Gamma Ray
Sat Mar 25, 2017 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is there any downside to Home Equity line of credit even if we won't use it immediately?
Replies: 24
Views: 5256

Re: Is there any downside to Home Equity line of credit even if we won't use it immediately?

obgraham, Thanks, yes interest is slightly higher, but I suppose if I buy a 2nd home, the interest will still be higher or I would be required to put down more than usual to get that house, so it's either %1 higher interest or higher down paypayment, or whatever add'l interest bank will charge for b...
by Gamma Ray
Sat Mar 25, 2017 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: [Taxes] Can we deduct music lessons cost for child in New York State?
Replies: 13
Views: 2783

Re: [Taxes] Can we deduct music lessons cost for child in New York State?

Thanks for the answers, realizing I paid $1000 in piano lessons for my son I thought I could deduct them. What information did you have that led you to believe this would be deductible for tax purposes? Like FiveK linked, I remember reading deductions being allowed under certain conditions like Cyc...
by Gamma Ray
Sat Mar 25, 2017 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: Citi card Nightmare
Replies: 75
Views: 11865

Re: Citi card Nightmare

Fidelity %2 is nice, but how can they call it "cash back" when it requires brokerage account. Can you really not get actual cash back or credit towards card balance/purchases? You can open a Cash Management Account for the Fido 2% if you don't want a full-fledged brokerage account. Thanks...
by Gamma Ray
Fri Mar 24, 2017 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Citi card Nightmare
Replies: 75
Views: 11865

Re: Citi card Nightmare

Fidelity %2 is nice, but how can they call it "cash back" when it requires brokerage account. Can you really not get actual cash back or credit towards card balance/purchases? You can open a Cash Management Account for the Fido 2% if you don't want a full-fledged brokerage account. Thanks...
by Gamma Ray
Fri Mar 24, 2017 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Is there any downside to Home Equity line of credit even if we won't use it immediately?
Replies: 24
Views: 5256

Is there any downside to Home Equity line of credit even if we won't use it immediately?

Would there be any downside or disadvantages to having an home equity line of credit if I apply now and not use it for a year or so? I am not sure how it works, we did 2nd mortgage or home equity loans before, but never line of credit. If I do a line of credit now, and let's say approved for $400k, ...
by Gamma Ray
Fri Mar 24, 2017 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: [Taxes] Can we deduct music lessons cost for child in New York State?
Replies: 13
Views: 2783

Re: [Taxes] Can we deduct music lessons cost for child in New York State?

Thanks for the answers, realizing I paid $1000 in piano lessons for my son I thought I could deduct them.
by Gamma Ray
Fri Mar 24, 2017 12:47 am
Forum: Personal Finance (Not Investing)
Topic: Citi card Nightmare
Replies: 75
Views: 11865

Re: Citi card Nightmare

Fidelity %2 is nice, but how can they call it "cash back" when it requires brokerage account.
Can you really not get actual cash back or credit towards card balance/purchases?
by Gamma Ray
Fri Mar 24, 2017 12:41 am
Forum: Personal Finance (Not Investing)
Topic: [Taxes] Can we deduct music lessons cost for child in New York State?
Replies: 13
Views: 2783

[Taxes] Can we deduct music lessons cost for child in New York State?

I understand music lessons are considered hobby and cannot be deducted from federal taxes, but they could be deducted depending on the state.
I could not find any clear info on New York State taxes. When I search for hobby, I only get income tax info, not on the deductibility of the expenses/tuitions.
by Gamma Ray
Tue Jan 17, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Do we have any mortgage brokers or bankers? Some questions about 2nd home
Replies: 1
Views: 362

Do we have any mortgage brokers or bankers? Some questions about 2nd home

When you want to buy a 2nd property, is the rent income from 1st property taken into consideration at full or only as reported on taxes? So this would mean regardless of what 1st property's rent income is, they just look at AGI? The reason I am asking is I am partners with someone else and they clai...
by Gamma Ray
Tue Jan 17, 2017 12:08 pm
Forum: Personal Investments
Topic: So, I'm going to gamble (for fun) and buy some individual stocks. Best way?
Replies: 65
Views: 6090

Re: So, I'm going to gamble (for fun) and buy some individual stocks. Best way?

The ticker symbol for Vanguard is VNR. That's a joke. Now, this is a test. If you didn't get the joke, you get thirty seconds to Google. If you don't get the joke within thirty seconds, it should shake your confidence that you know what you're doing. P.S. If you'd bought Vanguard stock three years ...
by Gamma Ray
Mon Jan 16, 2017 12:37 am
Forum: Personal Investments
Topic: Removing excess IRA contribution
Replies: 7
Views: 941

Re: Removing excess IRA contribution

You are on the right track, but question the value of the effort. Unless you are convinced that your employer is a crook and their plan administrator and auditor are in cahoots, I don't see the need. Matching employer contributions can be far more difficult to track with greatly relaxed contributio...
by Gamma Ray
Mon Jan 16, 2017 12:36 am
Forum: Personal Investments
Topic: Removing excess IRA contribution
Replies: 7
Views: 941

Re: Removing excess IRA contribution

You are on the right track, but question the value of the effort. Unless you are convinced that your employer is a crook and their plan administrator and auditor are in cahoots, I don't see the need. Matching employer contributions can be far more difficult to track with greatly relaxed contributio...
by Gamma Ray
Thu Jan 12, 2017 12:29 am
Forum: Personal Investments
Topic: Removing excess IRA contribution
Replies: 7
Views: 941

Re: Removing excess IRA contribution

I am bit confused now, I don't think I receive Form 5498. I will try to get my long statement and cross reference employer contributions (employee contribution should be fixed per paycheck). I think they may have slided the Employee contributions to reflect the contribution from previous year, I not...
by Gamma Ray
Wed Jan 11, 2017 12:24 am
Forum: Personal Investments
Topic: Removing excess IRA contribution
Replies: 7
Views: 941

Re: Removing excess IRA contribution

Your SIMPLE IRA statement reflects when deposits are made to your account not what year they are for . It is very possible that you have 2015 employee deferrals and 2015 employer contributions that occurred early in 2016. 1) The pay date determines what year the employee deferral is counted for. If...
by Gamma Ray
Tue Jan 10, 2017 4:29 pm
Forum: Personal Investments
Topic: Removing excess IRA contribution
Replies: 7
Views: 941

Removing excess IRA contribution

Hi everyone, I was checking my SIMPLE IRA year end statement and I noticed my employer submitted $13,000 as Employee contribution and $5,640 as Employer contribution. I know SIMPLE limit is $12,500 but I had no idea that there was also employer contribution limit as well, forgot the exact number but...
by Gamma Ray
Wed Dec 21, 2016 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Donation question
Replies: 22
Views: 3245

Re: Donation question

for the state tax credit you must actually owe enough state taxes to offset the credit. So if you end up with a refund due on your City/State taxes, these credits will not be added? PS: Doesn't look like there is a donation tax credit in NYS. Either Arizona is one of the big ones with these, or Goo...
by Gamma Ray
Tue Dec 20, 2016 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Donation question
Replies: 22
Views: 3245

Re: Donation question

Thanks, sounds like a lot of work but pay off does look substantial.
Is there a national name or code or something for these programs?
by Gamma Ray
Tue Dec 20, 2016 1:28 am
Forum: Personal Finance (Not Investing)
Topic: Donation question
Replies: 22
Views: 3245

Re: Donation question

Donating costs me $10,000, but saves me $9560 in taxes, for a net cost of $440. If I donated nothing, I'd still have to pay that 9560 in taxes. Missouri. Not all charities, or course. But some of them, including some food pantries. Is there a list of states or something I can check. I am not aware ...
by Gamma Ray
Sat Dec 17, 2016 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Donation question
Replies: 22
Views: 3245

Re: Donation question

Look into charities in your state that may qualify for state tax credits. In my state, the state credit can be 50% of the donation, and is in addition to the federal and state tax deductions. So... 39.6% Federal tax deduction 6% State state tax deduction 50% state tax credit 10,000 donation costs y...
by Gamma Ray
Sat Dec 17, 2016 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Donation question
Replies: 22
Views: 3245

Re: Donation question

Thanks for the answers, I guess there is no line for me to base my donations on so I'll just do as usual. I thought there might be a pre-calculation I could do in order to take the most advantage of donation deductions.
by Gamma Ray
Fri Dec 16, 2016 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Donation question
Replies: 22
Views: 3245

Donation question

I am making last round of donations for the year, is there any chart or cheat-sheet I can follow in order to maximize my deductions and maximize my contributions? For example if I donated $1000 but by donating $1200 if it will make a better impact on my taxes, I'd push my budget to donate more. Bett...
by Gamma Ray
Fri Dec 16, 2016 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Can we convert one credit Card to another within same bank?
Replies: 9
Views: 2977

Re: Can we convert one credit Card to another within same bank?

My oldest credit card is with Citi. Opened it in college in 1992. I converted it from a standard to Gold, then Platinum, and later to a uPromise card. Then a funny thing happened in 2009, I unknowingly locked myself into uPromise's contract. My card later was transferred to become Bank of America. ...
by Gamma Ray
Thu Dec 15, 2016 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Can we convert one credit Card to another within same bank?
Replies: 9
Views: 2977

Re: Can we convert one credit Card to another within same bank?

Thanks for the replies, turns out Citi already cancelled all 3 of my accounts, even though my credit report shows them as active. Maybe they didn't report it. The puzzling thing is they still show up on my online access on citi's website. Customer service claims that if there is no activity for 25 m...
by Gamma Ray
Tue Dec 13, 2016 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Can we convert one credit Card to another within same bank?
Replies: 9
Views: 2977

Can we convert one credit Card to another within same bank?

One of my oldest credit cards is with Citi but I stopped using it since Chase Freedom came out. Now I want to get Citi's %1+1% deal, but I wanted to know if I can ask Citi to convert my old card to that one so I can keep my history without having to apply for another credit card. Has anyone successf...
by Gamma Ray
Mon Dec 12, 2016 12:09 am
Forum: Personal Finance (Not Investing)
Topic: When tax rules mention phaseout based on AGI, is it for individual or household?
Replies: 2
Views: 669

When tax rules mention phaseout based on AGI, is it for individual or household?

For example, https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-savings-contributions-savers-credit Saver's Credit states if your AGI is over $61,500 you won't get any credit. When they say "Your AGI" and you filed married jointly, does this mean the household AGI or...
by Gamma Ray
Fri Nov 18, 2016 11:59 am
Forum: Personal Investments
Topic: Any opinion on Popular Direct?
Replies: 19
Views: 4137

Re: Any opinion on Popular Direct?

Do you keep your $100k+ in a bank with brick and mortar branches or under your mattress? I can't imagine a safer place to keep your money than a 1% savings account. If it's under your mattress you could get robbed. If there is a "serious global outage" causing the online banks turmoil, yo...
by Gamma Ray
Mon Nov 14, 2016 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Self-Employed, can we deduct child medical insurance premiums?
Replies: 4
Views: 1773

Re: Self-Employed, can we deduct child medical insurance premiums?

Thanks for that link. Like you mentioned it says employer subsidized , is it considered subsidized even if employer is making us pay %100 of the premiums of anyone other than the employee? If I move my son into our own insurance plan under our workplace, I would be paying more than $500 for him, but...
by Gamma Ray
Mon Nov 14, 2016 10:35 pm
Forum: Personal Investments
Topic: Any opinion on Popular Direct?
Replies: 19
Views: 4137

Re: Any opinion on Popular Direct?

You guys who chase the .25, how much do you actually get back after taxes, or do you somehow avoid the taxes on these by other deductions? I didn't put my money on any bank because 1% after taxes is more like .65 after taxes. I always felt like keeping large amount of cash (over $100k) in online sav...
by Gamma Ray
Thu Nov 10, 2016 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Self-Employed, can we deduct child medical insurance premiums?
Replies: 4
Views: 1773

Re: Self-Employed, can we deduct child medical insurance premiums?

No, neither your son or your spouse's (or yours) health insurance premiums are deductible so long as you are eligible for a group plan with your employer. Thanks, Is that because we file jointly? This here does not mention any limitations in reference to a spouse of the self-employed in reference t...
by Gamma Ray
Thu Nov 10, 2016 12:12 am
Forum: Personal Finance (Not Investing)
Topic: Self-Employed, can we deduct child medical insurance premiums?
Replies: 4
Views: 1773

Self-Employed, can we deduct child medical insurance premiums?

I am not self employed, and I receive insurance through my employer. My wife is self employed, we declare her income on 1040 C-EZ, about $5500/yr. I added her to my work health insurance plan, so that is deducted from my paycheck pre-tax. However we pay for our son's health insurance out of pocket, ...
by Gamma Ray
Tue Nov 01, 2016 11:39 am
Forum: Personal Investments
Topic: Portfolio Diversifying question with Target 2040 and others.
Replies: 19
Views: 3009

Re: Portfolio Diversifying question with Target 2040 and others.

For some reason I considered REIT's to be outside this equation, I don't know why. While I realize REITs are stocks in companies that focus on real estate and related markets, I always thought they react differently to market. I have/had the misconception of REITs not being affected as much by the ...
by Gamma Ray
Mon Oct 31, 2016 11:50 pm
Forum: Personal Investments
Topic: Portfolio Diversifying question with Target 2040 and others.
Replies: 19
Views: 3009

Re: Portfolio Diversifying question with Target 2040 and others.

retiredjg, I really appreciate your comments, some of your posts I read in other threads gave me great idea and saved me money in the past. For that I am deeply grateful. In terms of "Adding together all these things, your portfolio is 59.4% US stock, 27.4% International Stock, and 13.2% bonds....
by Gamma Ray
Sun Oct 30, 2016 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Can I pay spouse for rental property maintenance in the 2 family house we live in?
Replies: 5
Views: 1985

Re: Can I pay spouse for rental property maintenance in the 2 family house we live in?

I think that unless you are very, very careful that your wife is accruing an incremental interest in your share of the property if you are using marital income and/or assets to pay the expenses, including capital improvements and maintenance. And if that's the case as an owner she can't deduct her ...