Search found 3110 matches

by prudent
Sun Feb 19, 2012 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards is too many?
Replies: 36
Views: 4193

Re: How many credit cards is too many?

There is no evidence that a large amount of available credit is harmful to your score. It's the amount of credit in use that matters, both across all cards and on cards individually. Speaking from my own experience, available credit on my credit cards far exceeds my annual income. I primarily use th...
by prudent
Fri Feb 17, 2012 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Your Personal Mentor
Replies: 32
Views: 2276

Re: Your Personal Mentor

I am self-taught. I love my parents but they would be the first to admit they are ignorant about finances. When I was about 16 they started asking me for advice after getting burned time after time.
by prudent
Thu Feb 16, 2012 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: What is the best 'cash back' credit card?
Replies: 20
Views: 67785

Re: What is the best 'cash back' credit card?

I agree that there is no single "best" cashback card. I'm like the OP and focus on cash (or points that can be redeemed for cash or Visa/MC/Amex gift cards) rewards instead of miles. RIght now I'm using a combination of: AmEx Blue Cash Preferred (6% groceries/3% gas and department stores/1% all else...
by prudent
Thu Feb 16, 2012 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Do you use mint.com? Security concerns?
Replies: 59
Views: 9020

Re: Do you use mint.com? Security concerns?

Final thought: Any site that provides a free service still needs to monetize their service in some fashion. If the user experience is free, then where are they getting the money? They need to sell the data (such as trending) in order to make money. No other way to do it. Now think about point #1......
by prudent
Wed Feb 15, 2012 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do you use mint.com? Security concerns?
Replies: 59
Views: 9020

Re: Do you use mint.com? Security concerns?

I use Quicken on my own PC and download transactions from the various institutions. I just feel more comfortable keeping all my login data on my own PC rather than someone else's. I usually update Quicken a couple times a week. Might be jinxing myself here, but in decades of using banks/credit cards...
by prudent
Wed Feb 15, 2012 9:55 am
Forum: Investing - Help with Personal Investments
Topic: How much money do I need in retirement?
Replies: 143
Views: 21191

Re: How much money do I need in retirement?

I don't place much (if any) reliance on rules of thumb like the [3][4]% SWR, 80% of salary - the former is based on a number of assumptions that are not applicable to me and the latter is wrongly focused on your previous income instead of your future expenses . That is my #1 beef with retirement ca...
by prudent
Tue Feb 14, 2012 5:56 pm
Forum: Investing - Help with Personal Investments
Topic: How much money do I need in retirement?
Replies: 143
Views: 21191

Re: How much money do I need in retirement?

I would say there is no simple rule. Many things factor into the answer.
How much income you need each year
How many years you need it to last
How you plan to invest / risk tolerance
What other sources of income will be available to you (Social Security, pension, inheritance, etc.)
by prudent
Fri Feb 10, 2012 1:27 pm
Forum: Investing - Theory, News & General
Topic: Can you quantify getting "killed" on bonds?
Replies: 56
Views: 5157

Re: Can you quantify getting "killed" on bonds?

Simplegift wrote: Image
Source: Fidelity Investments
Am I reading this right? Is that graph saying that the worst one-year period from 1941-1981 for intermediate bonds was only down 5.1%?
by prudent
Thu Feb 09, 2012 11:35 am
Forum: Investing - Help with Personal Investments
Topic: Why would a hedge fund reduce minimum investment?
Replies: 4
Views: 505

Why would a hedge fund reduce minimum investment?

Was contacted to see if I was interested in a hedge fund. Fund has a strong track record. The fund had a $1 million minimum investment but is temporarily lowering that to $100K. Not going to invest in any event, but I'm wondering what reasons they would have to do that.
by prudent
Thu Feb 09, 2012 11:27 am
Forum: Personal Finance (Not Investing)
Topic: A very bad credit card
Replies: 3
Views: 888

Re: A very bad credit card

It has a purpose for people who need to rebuild their credit. Ideally they would use the card until their scores were adequate, then move to a mainstream card.
by prudent
Thu Feb 09, 2012 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How best to help brother financially
Replies: 35
Views: 3794

Re: How best to help brother financially

I very much empathize with you. I have a brother who squanders money like crazy. He and his wife both have good jobs but in the last 8 years they needed help getting caught up on their mortgage, as well as needing money for roof repairs. We grew up poor - that made me careful with money, and it made...
by prudent
Wed Feb 08, 2012 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Does playing the Lottery ever have a positive Expected Value
Replies: 27
Views: 3175

Re: Does playing the Lottery ever have a positive Expected V

There have been times when the jackpot amount was greater than the cost of buying a ticket for every possible combination of numbers. But you have no way of knowing if you would have to share the jackpot with other winners, so even considering the impracticality of trying to buy tickets to cover eve...
by prudent
Mon Feb 06, 2012 12:54 pm
Forum: Investing - Theory, News & General
Topic: What a terrible bet
Replies: 30
Views: 4017

Re: What a terrible bet

A bet like that can't be looked at as an investment, that's for sure. My suspicion is that a person who would make a bet like that is making dozens of other bets on the game also. Who wins the coin flip, etc.
by prudent
Mon Feb 06, 2012 7:42 am
Forum: Investing - Theory, News & General
Topic: Which bank do you use?
Replies: 71
Views: 10641

Re: Which bank do you use?

My local credit union is wonderful. I used to think I needed to be with a "big bank", found out the credit union has almost everything I need - cheaper. Plus they are friendly and easy to work with. The only thing they don't have is safe deposit boxes.
by prudent
Thu Feb 02, 2012 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Karma Report Card - Please advise
Replies: 14
Views: 1688

Re: Credit Karma Report Card - Please advise

Everything I have read indicated that a 740 FICO will qualify for the best mortgage rate. But also, keep things in perspective if you aren't at 740 or above. If you are in the next tier down (720-739), it will likely cost $250 per $100,000 borrowed (charged as discount points). On a $300,000 mortgag...
by prudent
Thu Feb 02, 2012 7:41 am
Forum: Investing - Theory, News & General
Topic: "The only way to extreme wealth is buying individual stocks"
Replies: 105
Views: 8688

Re: "The only way to extreme wealth is buying individual sto

I'm sure there are a bunch of people who were fortunate enough to make early investments in companies that became very successful. Other people have a sixth sense for individual stock picking. So I can believe there are people with modest salaries who grew massive wealth that way. To the question in...
by prudent
Wed Feb 01, 2012 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Assigned New Vanguard Rep. and I'm Leery
Replies: 10
Views: 1201

Re: Assigned New Vanguard Rep. and I'm Leery

I don't understand the part about "business partners" but other than that it seems perfectly OK to me. I don't see anything that would make me suspicious that it's not legit. If all you want is someone to talk to when YOU want to talk, just email the guy saying you will be in touch if you have any q...
by prudent
Wed Feb 01, 2012 10:22 am
Forum: Investing - Help with Personal Investments
Topic: How is your relationship with money?
Replies: 54
Views: 4800

Re: How is your relationship with money?

You might find that diversifying your savings (asset allocation) will keep you from fretting that you COULD have done something different and earned a couple more hundred, as in your example of not buying CDs. With diversification, most of the time you'll see some things going up and some going down...
by prudent
Tue Jan 31, 2012 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Share Your Money-Saving "Secrets" Here
Replies: 110
Views: 11716

Re: Share Your Money-Saving "Secrets" Here

If you want to buy something, set up an alert on SlickDeals or FatWallet. Or just peruse that site every now and then. Excellent deals pop up on those sites. An alert sounds like a good idea, but not browsing. Everyone I know that browses on deals sites ends up buying things they didn't even think ...
by prudent
Mon Jan 30, 2012 9:10 am
Forum: Investing - Theory, News & General
Topic: Going after 'monster' dividends
Replies: 31
Views: 4252

Re: Going after 'monster' dividends

Arent' CIM's dividends taxed at ordinary income rates?
by prudent
Sat Jan 28, 2012 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a Kruger Rand
Replies: 29
Views: 2858

Re: Selling a Kruger Rand

Any coin shop will pay cash on the spot. Just be aware of what the spot price of gold is on the day you wish to sell, and you should be able to get a minimum of 95% of that amount. Prices change daily (and throughout the day as well).
by prudent
Thu Jan 26, 2012 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Kinda steamed at PenFed over the switch to 0.25%
Replies: 30
Views: 2567

Re: Kinda steamed at PenFed over the switch to 0.25%

I don't expect any rewards card to maintain the same program forever. Sure, it's marketing. PenFed probably gained tens of thousands of new cardholders over the years with their great cashback program. Perhaps they can't afford to keep being the cashback leader any longer, given the low interest rat...
by prudent
Tue Jan 24, 2012 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Hacked -- how?
Replies: 62
Views: 8147

Re: Credit Card Hacked -- how?

interplanetjanet wrote:The ATM/debit card for my "main" account is deactivated and sits locked up.
What is a deactivated card?
by prudent
Tue Jan 24, 2012 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: How many are you are paying monthly bank fees
Replies: 75
Views: 4924

Re: How many are you are paying monthly bank fees

Aptenodytes wrote:What I'd really like is a bank that will waive wire transfer fees. Some of my business travel is reimbursed only through this means.
One bank I use, First Niagara, does not charge for domestic wire transfers (in or out) if you take their top level checking account.
by prudent
Tue Jan 24, 2012 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 1211

Re: Credit card not reporting credit limit?

If by canceling an existing card you lowered the average age of your accounts, that would definitely hurt your score.
by prudent
Tue Jan 24, 2012 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 1211

Re: Credit card not reporting credit limit?

Unless you are going to apply for new credit, a temporary hit to your score doesn't really mean anything - especially when your score is very high, as yours is. If you are going to apply for new credit, then just pay down the card in advance of the closing date prior to when you plan to apply. That ...
by prudent
Tue Jan 24, 2012 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card not reporting credit limit?
Replies: 14
Views: 1211

Re: Credit card not reporting credit limit?

Is your score going to be relevant to your upcoming big purchase? In other words, is your ability to make the purchase going to be dependent on someone looking at your credit score and how they evaluate it?
by prudent
Mon Jan 23, 2012 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: Credit Union Increases Early Withdrawal Penalty on existing
Replies: 1
Views: 339

Re: Credit Union Increases Early Withdrawal Penalty on exist

Wow, I did not expect banks or CUs to pull that kind of stunt. I guess you can't buy a CD any more without FIRST scouring the disclosure to see if there are weasel words which allow the issuer to change the deal midstream. I just looked at Ally Bank's deposit agreement. Ally represents itself as a b...
by prudent
Sat Jan 21, 2012 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Cubicle talk
Replies: 36
Views: 3422

Re: Cubicle talk

Everyone's a genius, until they aren't.
by prudent
Fri Jan 20, 2012 10:43 am
Forum: Personal Finance (Not Investing)
Topic: USAA check deposit at UPS ... anyone use it?
Replies: 17
Views: 5641

Re: USAA check deposit at UPS ... anyone use it?

You seem like you'd want to deposit it at Navy, so do it. Then transfer to USAA.
by prudent
Thu Jan 19, 2012 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: "Financial Engineering"?
Replies: 6
Views: 885

Re: "Financial Engineering"?

Does he also share in your losses? This is the question :) If I were unscrupulous I could make a killing from sharing in winnings but not losses. Consider if I have 3 suckers investors and invest them as so... Investor A I have invest in gold Investor B I have short gold Investor C I have sell opti...
by prudent
Thu Jan 19, 2012 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: On Giving Sensitive Info to Your Executor
Replies: 23
Views: 2100

Re: On Giving Sensitive Info to Your Executor

Archie Sinclair wrote:Don't you ever change your passwords? Even if you don't, can't you imagine a circumstance where you would want to do so?
Personally, I feel a complex password is sufficiently secure that it need not be changed simply for the sake of changing it. Just don't use the same password on multiple sites.
by prudent
Thu Jan 19, 2012 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: living at a hotel during the work week?
Replies: 15
Views: 2242

Re: living at a hotel during the work week?

I know people who are doing it. They have the post office hold all their mail then pick it up when they get back home. Timers on the lights so they go on and off at various times. Some turn off the water, some don't. They leave a radio playing all the time. None of them have a security cam setup but...
by prudent
Thu Jan 19, 2012 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: On Giving Sensitive Info to Your Executor
Replies: 23
Views: 2100

Re: On Giving Sensitive Info to Your Executor

If I was the executor, I would not want the passwords. It could create a suspicion that I could have done something with the accounts I shouldn't have before I had legal authority to take control of the accounts. How could I prove I didn't? Or what if I did do something out of ignorance, like pay mo...
by prudent
Thu Jan 19, 2012 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Credit monitoring service
Replies: 12
Views: 1554

Re: Credit monitoring service

They don't hurt your credit. I don't see the value unless someone is actively working a strategy to raise his/her scores and needs to closely monitor progress. I understand it would be useful to know if something unusual hits your report, but I can't see paying a monthly fee for that.
by prudent
Wed Jan 18, 2012 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Business Taking Off - Need Guidance
Replies: 9
Views: 1818

Re: Business Taking Off - Need Guidance

Welcome!

First question - are you willing/able to put in the time to handle this yourself, or does running the business prevent that?
by prudent
Wed Jan 18, 2012 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Hacked -- how?
Replies: 62
Views: 8147

Re: Credit Card Hacked -- how?

Interesting about the vouchers. That explains why I read so often that people who had their credit card info stolen report that airline tickets were purchased with the info. I've read that it's quite common for hackers to buy gift cards and sell them on ebay using the same MO, but I can see that air...
by prudent
Wed Jan 18, 2012 12:37 pm
Forum: Investing - Theory, News & General
Topic: My 10 Year Anniversary at Vanguard: A Look at the Changes
Replies: 3
Views: 721

Re: My 10 Year Anniversary at Vanguard: A Look at the Change

Very nice post that really points out significant changes. Thanks!
by prudent
Wed Jan 18, 2012 10:29 am
Forum: Personal Consumer Issues
Topic: Tithe 10% of Gross?
Replies: 102
Views: 8430

Re: Tithe 10% of Gross?

Are you saying it makes a difference whether you donate to charity out of a taxable investment account versus just out of your bank account? (I gotta learn more about how taxes work, this stuff always confuses the heck out of me...) He's saying that if you donate securities that have appreciated si...
by prudent
Tue Jan 17, 2012 3:31 pm
Forum: Personal Consumer Issues
Topic: Tithe 10% of Gross?
Replies: 102
Views: 8430

Re: Tithe 10% of Gross?

This is certainly an individual decision, but my experience was once we began to tithe, our financial situation got better and better. Within two years my salary had grown to cover our tithe and then some. Some of our church family simply cannot do that but they give of their time and talents, which...
by prudent
Tue Jan 17, 2012 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: How have the BOGLEHEADS helped you?
Replies: 67
Views: 6182

Re: How have the Bogleheads helped you?

A little background... I got interested in the markets as a teenager, even though we were poor and I knew no one who actually invested. In the summers I would take the bus downtown and hang out at one of the brokers where they had a dozen chairs in front of the ticker, and the retired folks who also...
by prudent
Tue Jan 17, 2012 8:45 am
Forum: Personal Finance (Not Investing)
Topic: How to send financial data to an adult child in case of a ca
Replies: 27
Views: 2537

Re: How to send financial data to an adult child in case of

Having to change passwords all the time makes this so very difficult. I'm of the opinion that being forced to change passwords actually hurts security instead of helps because it makes people write them down and keep them simple. And with more institutions implementing two-factor authentication, a p...
by prudent
Tue Jan 17, 2012 7:56 am
Forum: Personal Consumer Issues
Topic: Deposits via scans/smartphone - retention of the checks?
Replies: 6
Views: 628

Re: Deposits via scans/smartphone - retention of the checks?

For me it's not about the space, I just don't want to have to keep more paper just in case the bank wants it later on. While I really thought I would jump on the ability to do remote deposits, I think I'll just deposit the checks physically and be done with them. Maybe I'd do it differently if the b...
by prudent
Mon Jan 16, 2012 12:09 pm
Forum: Personal Consumer Issues
Topic: Deposits via scans/smartphone - retention of the checks?
Replies: 6
Views: 628

Deposits via scans/smartphone - retention of the checks?

My credit union has implemented the ability to deposit checks by sending them scanned images. The user agreement states I must retain the actual checks for 6 months after that in case they want it. For another viewpoint, I looked at the USAA remote deposit agreement, which states if they request the...
by prudent
Mon Jan 16, 2012 8:56 am
Forum: Personal Finance (Not Investing)
Topic: credit card rebate trickery (Chase BP Visa and PNC)
Replies: 47
Views: 7323

Re: credit card rebate trickery (Chase BP Visa and PNC)

norookie wrote::mrgreen: You guys also have to consider paying cash nets a discount on gas @ the pump also.
I know that's true in some places but none of the stations around me have a cash discount.
by prudent
Mon Jan 16, 2012 8:09 am
Forum: Personal Consumer Issues
Topic: Newspaper reading on a tablet
Replies: 17
Views: 3628

Re: Newspaper reading on a tablet

I am a voracious online reader of news (using a PC) but I still subscribe to both local daily metropolitan papers and the suburban weekly. There is no question in my mind that the physical paper is more informative simply because you can read more in the same amount of time. I can read a half-page a...
by prudent
Mon Jan 16, 2012 7:56 am
Forum: Personal Finance (Not Investing)
Topic: credit card rebate trickery (Chase BP Visa and PNC)
Replies: 47
Views: 7323

Re: credit card rebate trickery (Chase BP Visa and PNC)

We should expect the top rewards cards to change their programs from time to time, not get upset over it. Banks offer an enticing rebate program in order to win our business, and after a couple years they scale it back while hoping that customers are so used to using the card they will continue to u...
by prudent
Wed Jan 11, 2012 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Selling gold, silver, & platinum
Replies: 5
Views: 771

Re: Selling gold, silver, & platinum

There are 31.1 grams per troy ounce. There are 12 troy ounces in a troy pound. All precious metals are priced in troy ounces (or troy pounds, rarely). Gold is also frequently priced in "pennyweights". There are 20 pennyweight per troy ounce. Given that pure gold is 24k, you can calculate the percent...