Search found 11107 matches

by JBTX
Sun Mar 17, 2024 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: credit score dropped 100+ points after Chase started reporting First Republic mortgages
Replies: 10
Views: 1383

Re: credit score dropped 100+ points after Chase started reporting First Republic mortgages

In terms of quickly pay your credit card down early, except for a very small amount, and then pay at at the due date. That way it shows up in the debt utilization score. If you pay it off early to zero I’ve heard it doesn’t enter the calculation. I don’t know this for a fact, I’ve never tried it.

Longer term having more available credit to improve your utilization score may help. Also don’t close any old or high credit limit cards.
by JBTX
Sun Mar 17, 2024 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: 2.9% CC and 0.25 ACH fees
Replies: 14
Views: 1451

Re: 2.9% CC and 0.25 ACH fees

https://www.doctorofcredit.com/best-cur ... nuses/amp/

If it were me and I hadn’t done it before I’d probably open a card each month and get the bonus, at least the higher ones. This works particularly well if you can get business cards.

Eventually you will run out of cards which at that point you’d go to plan B, whatever that may be.
by JBTX
Sun Mar 17, 2024 12:08 am
Forum: Personal Consumer Issues
Topic: RIP edmunds.com....how can one evaluate the value of a used car now?
Replies: 25
Views: 4065

Re: RIP edmunds.com....how can one evaluate the value of a used car now?

gunny2 wrote: Sat Mar 16, 2024 11:23 pm
JBTX wrote: Sat Mar 16, 2024 9:45 pm Blackbook prices tend to be more conservative.
I went to that site and it insisted on getting all my contact info to "talk to a product specialist." Yeah, hard pass.
Yeah it’s been years since I looked at it. It does look a lot different now.

I usually use cars.com. I’d rather see what actual cars are selling for vs some generic value assessed.
by JBTX
Sat Mar 16, 2024 10:01 pm
Forum: Investing - Theory, News & General
Topic: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor
Replies: 15
Views: 1227

Re: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor

We haven’t done Roths in years, due to large rollover IRAs. I’m not sure in the past rollover to 401k was an option to us. If the 401k isn’t great it is kind of a tail wagging the dog scenario. I don’t know that I’d rearrange my entire portfolio for the ability to do a Roth.

Open a taxable account with highly tax efficient index funds. You could tweak your portfolio a bit to put the most tax efficient equity funds in taxable and less tax efficient equity funds in Roth.
by JBTX
Sat Mar 16, 2024 9:56 pm
Forum: Investing - Theory, News & General
Topic: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor
Replies: 15
Views: 1227

Re: Married Filing Jointly, Over Roth Phase Out, Can't Backdoor

retiredjg wrote: Fri Mar 15, 2024 5:28 pm Oh it makes my head hurt.... :twisted:
Indeed.
by JBTX
Sat Mar 16, 2024 9:49 pm
Forum: Personal Consumer Issues
Topic: Grass seed or plugs for bare patches
Replies: 4
Views: 708

Re: Grass seed or plugs for bare patches

So what type of grass are you talking about, and where? I’m not sure a grass you can seed is typically one you would plug, and vice versa.
by JBTX
Tue Mar 12, 2024 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: College degree worthwhile for marketing?
Replies: 112
Views: 7119

Re: College degree worthwhile for marketing?

You can debate the value if you are just starting college, but if you are most of the way through it would be a waste to just give up at this point. Without it she will likely be doing sales all of her life. She doesn’t know at this point if she will like that or not.

Also assuming she doesn’t work at the same company all of her life, it’s always a plus to be able to fill out the college part for education on application forms. She may run into some sales jobs that are slightly more technical and not having a degree could disqualify her.

If she wants to go towards management, the degree will help too.
by JBTX
Sun Mar 10, 2024 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: How to Estimate Return Rates for Retirement Planning
Replies: 67
Views: 6026

Re: How to Estimate Return Rates for Retirement Planning

Charles Joseph wrote: Sun Mar 10, 2024 8:54 am
JBTX wrote: Sun Mar 03, 2024 11:58 pm These are forecasts and guesses. Trying to get down to a fund level is a level of accuracy that just doesn’t exist.

When I plan in broad strokes I plan with an estimated real (after inflation return).

TIPS- bonds are currently at around 2% real. I’d probably plan for bond funds between 1-2% real.

For stock funds I’d probably use 3-4% real.
I'm reading William Bernstein's "The Investor's Manifesto", and using his simple "formulas" for forecasting, your numbers hit the nail on the head.
That’s good to hear thanks for letting me know. I think they directionally fall within what Bogle said over his last decade.

Given I’ve said it most likely it will be wrong.
by JBTX
Sun Mar 10, 2024 1:12 pm
Forum: Personal Consumer Issues
Topic: How could I have known dental claim would be denied?
Replies: 43
Views: 4407

Re: How could I have known dental claim would be denied?

My recommendation is to find your company’s Director of Benefits. They probably have a contact with Delta Dental, an account manager type. They are highly motivated to find a resolution as they are dealing directly their decision making customer. This method was by far the most effective method of managing disputed claims. You just won’t win working through the normal process. It’s designed to wear you down and make you give up. In my experience my employer self-insured employee benefits (medical, dental, etc). The 'insurer' just processed the claims - the company actually paid the claim. I appealed several denials over the years (several thousand dollars in total) to the employer's Director of Benefits and the company always agreed with m...
by JBTX
Sat Mar 09, 2024 4:57 pm
Forum: Investing - Theory, News & General
Topic: McQ in the Wall Street Journal
Replies: 12
Views: 2025

Re: McQ in the Wall Street Journal

Great article. One quote really struck me: He found that a $10,000 investment in 1926 in the index that became the S&P 500 would have grown to just under $198,000, 30 years later, with all dividends reinvested. That’s a perfect example of how well buy-and-hold works, even during one of the worst periods for US stocks. The great rally post-1949 had healed the wounds of the 1930s by that point. The thing that struck Jason was my finding that an ordinary fund investor, paying the average load, and bearing active manager performance shortfalls, and bearing expenses, only got $98,000 over the same period. Before Bogle, buy-and-hold didn't have the same payoff in the world--you couldn't come close to the index returns. Now you can. Someone s...
by JBTX
Sat Mar 09, 2024 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Father died and I'm totally overwhelmed on what to do
Replies: 58
Views: 10976

Re: Father died and I'm totally overwhelmed on what to do

Dad's hospital bills are going to start coming and I don't know anything about Medicare. What could I expect?
Personally this would be among my lower concerns. You can let those float for many months. Nothing is likely to happen immediately if not paid. When you get time you can follow up with vendors and Medicaid to see if they are covered. If they aren’t paid and resolved they will be a claim against the estate.
by JBTX
Sat Mar 09, 2024 4:23 pm
Forum: Personal Consumer Issues
Topic: How could I have known dental claim would be denied?
Replies: 43
Views: 4407

Re: How could I have known dental claim would be denied?

CygX1 wrote: Sat Mar 09, 2024 4:05 pm
JBTX wrote: Sat Mar 09, 2024 4:01 pm
somewhatentertained wrote: Sat Mar 09, 2024 3:59 pm Have you checked with your medical insurance or was this strictly a dental procedure?
This is a good point. Sometimes surgical dental procedures can be covered by medical.
It's not covered by our medical insurance.
Like I said before that try your company’s director of employee benefits, or the equivalent.
by JBTX
Sat Mar 09, 2024 4:01 pm
Forum: Personal Consumer Issues
Topic: How could I have known dental claim would be denied?
Replies: 43
Views: 4407

Re: How could I have known dental claim would be denied?

somewhatentertained wrote: Sat Mar 09, 2024 3:59 pm Have you checked with your medical insurance or was this strictly a dental procedure?
This is a good point. Sometimes surgical dental procedures can be covered by medical.
by JBTX
Sat Mar 09, 2024 3:58 pm
Forum: Personal Consumer Issues
Topic: How could I have known dental claim would be denied?
Replies: 43
Views: 4407

Re: How could I have known dental claim would be denied?

How could I have known an expensive dental procedure would not be covered before purchasing an expensive insurance plan, given the reason for the denial is not included in any documentation available to patients? My son recently had extensive periodontal (gum) treatment that he absolutely needed. During my employee benefits season last fall I researched VERY carefully to confirm the Enhanced Delta Dental plan would cover this procedure at 80%. I carefully read all materials available to me and I confirmed that the procedure code D4273 is a covered benefit. So I purchased the insurance and my son had the procedure in January. We have received the Explanation of Benefits and the procedure is denied. The reason cited is a policy guideline/exc...
by JBTX
Fri Mar 08, 2024 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: The Final, Definitive Thread on Bank Bonuses
Replies: 116
Views: 16037

Re: The Final, Definitive Thread on Bank Bonuses

SpideyIndexer wrote: Fri Mar 08, 2024 8:25 pm Curious if there are sometimes hefty fees to close an account which paid a bonus.
I’ve done dozens and never encountered them. I am always careful to follow T&C
by JBTX
Wed Mar 06, 2024 4:31 pm
Forum: Personal Consumer Issues
Topic: Lemon used car - Texas
Replies: 3
Views: 497

Re: Lemon used car - Texas

Thanks for the responses. I’m try to get over the anger as the dude is such a Jack arse. Eating $6500 is something I don’t do easily, granted in the end it’s my own fault.
by JBTX
Wed Mar 06, 2024 3:07 pm
Forum: Personal Consumer Issues
Topic: Lemon used car - Texas
Replies: 3
Views: 497

Lemon used car - Texas

2 months ago bought a car for young adult daughter. $7000, 15 years old, 150k+ miles. No doubt I overpaid. I could have bought the same car for $5500, but I let my guard down because a friend really recommended the seller, who is a mechanic and will occasionally sell cars he has worked on for clients. The supposed attraction is he is a good mechanic, and he will warranty any parts he replaced and he is an hononrable guy. Yada Yada yada. I fell for it. Within 2 days the cylinders were misfiring. He fixed that, at his expense. A few days later another cylinder misfired. He fixed that, at his expense. Almost immediately out of the shop the service engine light came back on but seemed to run ok. A couple of weeks later took it in for an oil cha...
by JBTX
Mon Mar 04, 2024 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff mortgage or maintain liquidity?
Replies: 52
Views: 3607

Re: Payoff mortgage or maintain liquidity?

It is highly situation dependent. But for me, if there is no net cost to holding the mortgage, or even if the net cost of holding the mortgage is modest, I prefer the liquidity. There is always a chance rates will go down and I can refinance at a lower rate. Paying off a mortgage does not make me feel good, or bad, or anything.
by JBTX
Sun Mar 03, 2024 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: How to Estimate Return Rates for Retirement Planning
Replies: 67
Views: 6026

Re: How to Estimate Return Rates for Retirement Planning

These are forecasts and guesses. Trying to get down to a fund level is a level of accuracy that just doesn’t exist.

When I plan in broad strokes I plan with an estimated real (after inflation return).

TIPS- bonds are currently at around 2% real. I’d probably plan for bond funds between 1-2% real.

For stock funds I’d probably use 3-4% real.
by JBTX
Sun Mar 03, 2024 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Being a HCE caused Fidelity 401k to send me check, what about W2?
Replies: 14
Views: 807

Re: Being a HCE caused Fidelity 401k to send me check, what about W2?

My recollection is when this happened to my wife years ago the income is recognized in the following year when the refund is received.

If it is an option it may be worth a discussion with the employer to move to a safe harbor plan. That’s unltimately what my wife’s company did.
by JBTX
Sun Mar 03, 2024 11:48 am
Forum: Investing - Theory, News & General
Topic: Are We in a Stock Market Bubble? (Ray Dalio)
Replies: 132
Views: 15402

Re: Are We in a Stock Market Bubble? (Ray Dalio)

Please apply a heavy dose of critical thinking to anything Ray Dalio says before you incorporate into your knowledge base. He is a shameless self promoter and he is one of the best in the world at it. Bridgewater has a cultish culture. His economic model is made up by him and is not credible. I used to have a fair amount of respect for him, but now my views regarding him are more nuanced. It’s pretty clear he is an eccentric and a horrible person to work for with heavy narcissistic tendencies. That said, I do think some of his writings on macro economic concepts have value and I found that particular blurb on bubbles to be pretty insightful. His stuff can be educational and interesting but often not very actionable. While he doesn’t have t...
by JBTX
Sat Mar 02, 2024 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: 12% Now, 12% Later: Roth Conversions Worth It?
Replies: 41
Views: 5379

Re: 12% Now, 12% Later: Roth Conversions Worth It?

Reasons why converting now at 12% seems optimal - rates are scheduled to go to 15% In 2026. That may or may not be changed, but it is the law as of right now - if you aren’t taking social security yet, it may be beneficial to do so before social security. The taxability of social security is tricky and could throw you into a higher marginal rate for a limited range. - IIRMA probably isn’t a factor but if you were to come into more income it could be - is there any chance of inheritance down the road that could push up tax rates? - if/ when one of you dies your tax brackets will be single and lower / rates higher - you don’t have to worry about RMDs or less so - future beneficiaries would benefit from no taxes (except if charity there may be...
by JBTX
Sat Mar 02, 2024 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Open Social Security Question: When It Says to Take Benefits
Replies: 22
Views: 2373

Re: Open Social Security Question: When It Says to Take Benefits

When I use the calculator I used some of the alternative parameters. If you are/expect to be in good health you may choose to look alternative longevity tables. The average Boglehead likely has a longer lifespan than the average American. SS is based on the average American. Those in the top quarter of income /wealth probably live several years longer in average.

Choosing a different table may give you different results and may recommend a longer delay in taking them.

Also you can do a comparison to see how much different an alternative scenario is to the recommended. Sometimes a preferred alternative may not be that far behind the recommended scenario.
by JBTX
Fri Mar 01, 2024 9:39 pm
Forum: Personal Investments
Topic: Simple IRA rollover and Solo401k rollover.
Replies: 2
Views: 387

Simple IRA rollover and Solo401k rollover.

Two separate questions. 1. We would like to rollover a fidelity simple IRA, well over 10 years old, to a traditonal or rollover IRA. The fidelity rep said something about “comingling” issues specific to a SIMPLE IRA. What exactly was he talking about? For now and perhaps indefinitely the plan is to roll the entire balance over to a traditional / rollover Ira - with those being the only funds. 2. I have a vanguard solo 401k. It has a Roth and traditonal component. It is well under $250k. I haven’t worked self employed in several years and considering rolling it to a rollover IRA - mainly because of the absurdly excessive late filing fees if and when it is ever required. The future risk just isn’t worth it. I assume you would just - roll fund...
by JBTX
Thu Feb 29, 2024 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card bonus eligibility
Replies: 8
Views: 1091

Re: Credit card bonus eligibility

Yes you can get more than one type of card at a bank and get a sign up bonus for each. How many and what sort of time period delay, if any, is specific to each bank. Go to the doctor of credit website and look at other cardholders experiences for guidance.

https://www.doctorofcredit.com/things-e ... cards/amp/
by JBTX
Thu Feb 29, 2024 2:50 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15328

Re: What good is tax deferred?

I am retiring later this year. I'll be 64. Like many of my peers, I dutifully saved for retirement using traditional (tax deferred) IRA and 401K. In recent years, I have (strategically) converted a fair amount to Roths. Because debts are paid off, I have also accumulated a good amount in taxable (which I now realize can be tax managed). So, after learning about asset location and tax strategies, it got me wondering... what is the value of tax deferred compared to Roth and taxable? About the only things I can think of - is having enough tax deferred saved to withdrawal a yearly amount equal to the tax deduction and kicking the tax can down the road if current taxes are high. I'd like to have a better understanding, so I can tell my 30-somet...
by JBTX
Thu Feb 29, 2024 2:44 pm
Forum: Investing - Theory, News & General
Topic: Investing fear
Replies: 30
Views: 2833

Re: Investing fear

If you need it less than 10 years, I wouldn’t put all or most in stocks. If you don’t need it until longer than that if the market drops 50% the day after you invest it who cares because you don’t need it for 10 years. While it’s theoretically best to jump in all at once if investing portions incrementally over a period makes it easier, that’s a reasonable alternative. Also, while it doesn’t matter if it drops after you invest it, perhaps figure out how much of a drop will cause you serious anxiety. If you could stand a 20% drop, then perhaps put 40% in the market, because a 50% drop would be a 20% portfolio drop, and then invest the rest with safe investments. To an extent you have to experience a market tanking and then going back up to b...
by JBTX
Thu Feb 29, 2024 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Zelle Questions: safety, speed, uses?
Replies: 57
Views: 5492

Re: Zelle Questions: safety, speed, uses?

I use it one or more times a week to pay kids rent and other professionals. Use a couple of times a week to transfer money to my adult kid. Easy to use, no problems.
by JBTX
Thu Feb 29, 2024 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?
Replies: 42
Views: 5535

Re: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?

This is something we will have to deal with and similar ange ans OP. Our portfolio is kind of complex with a lot of accounts and a fair amount of funds, mostly index funds. My goal is to start incrementally simplifying over the coming years. If I were hit by a bus tomorrow it wouldn’t help. What I have done - digitized all statements/ shredded all hard copies - organizing digital files - we have estate plan and attorney - rollover a couple of 401ks into a rollover Ira. - found a way to make passwords accessible - most bank accounts are joint. - given cross access for online accounts via online authorization. What I plan to do - have occasional sessions to discuss where things are and what they are - continue to consolidate accounts and fund...
by JBTX
Tue Feb 27, 2024 8:59 pm
Forum: Investing - Theory, News & General
Topic: Still trying to understand TIPS
Replies: 42
Views: 4676

Re: Still trying to understand TIPS

jayars35 wrote: Tue Feb 27, 2024 6:05 pm Hello all,

I have read every TIPS thread on here and still do not know the answer to this question.
For the following TIPS:
Matures 4/15/2028
Coupon is 1.25%
Price is 96.916
YTM is 2.033

Would the return =2.033% above inflation or 1.25% above inflation or neither?

Thank you
2.033% above inflation.

1.25% of the 2.033% is the stated yield, and the other .783% is from the bond discount at 96.96 vs 100. 100-96.96= 3.04. 3.04 / 4 more years is approx .76 of discount realized per year, which is very close to the .783%.
by JBTX
Tue Feb 27, 2024 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: another 5500ez penalty tale - $210,000
Replies: 131
Views: 23721

Re: another 5500ez penalty tale - $210,000

Good reminder to close my solo 401k soon and file since I’m really not contributing to it now. The potential nominal benefits are not worth the catastrophic potential headaches.
by JBTX
Tue Feb 27, 2024 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: When did your Net Worth surpass your lifetime earnings?
Replies: 93
Views: 11642

Re: When did your Net Worth surpass your lifetime earnings?

investorpeter wrote: Tue Feb 27, 2024 7:55 pm
sf_tech_saver wrote: Mon Feb 26, 2024 8:44 pm I personally find the question of "When did I start making more from my portfolio than from my work?" more interesting -- and for me, sadly, not yet!
My personal benchmark has been:

“If you have a daily loss in your portfolio that exceeds your annual gross income, you have enough to retire.”

Another way of phrasing this idea for gain, is “If your portfolio can earn more in a day than you can in a year, then you can safely retire.”
In other words approximately $10 million.

Welcome to the new Bogleheads - brought to you by Tech Bros inc,
by JBTX
Tue Feb 27, 2024 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: When did your Net Worth surpass your lifetime earnings?
Replies: 93
Views: 11642

Re: When did your Net Worth surpass your lifetime earnings?

I honestly don’t know. Seems like an odd question.

My best guess is for me at 60 and spouse they are about the same number. Perhaps NW for my share a tad higher and for DW a tad lower since she is a few years younger and started saving later.

Seems to me people come up with metrics they feel they stack up reasonably well and start threads on them.

Edit: looking at actual numbers NW is less.
by JBTX
Tue Feb 27, 2024 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with appropriate level of financial help for an aging parent
Replies: 41
Views: 5257

Re: Struggling with appropriate level of financial help for an aging parent

What isn’t clear to me is what she wants to do. 70 isn’t particularly old. If she is content I wouldn’t change anything for now. If she wants to move near year then that’s another matter. I disagree strongly. The time to make this big adjustments is when the health is still reasonably strong. Waiting until everything-is-a-crisis all at once is not a good idea. The meta problem is we just don't know when health will turn. And it can turn suddenly. Personally I've seen it multiple times already. To each his/her own. I’m 60. I can’t imagine in 10 years moving some where because I may become incapacitated in the next 25-35 years. My parents are about 90, and they are doing what they want to do and live where they want to live. Even if we wante...
by JBTX
Sun Feb 25, 2024 6:22 pm
Forum: Investing - Theory, News & General
Topic: LMP/TIPS Ladder Pros & Cons Master Thread
Replies: 71
Views: 5893

Re: LMP/TIPS Ladder Pros & Cons Master Thread

I have taken a somewhat different approach with TIPS recently. I’m 60, portfolio is roughly 60/40 and at least half of the bonds are TIPS. With ibonds that is close to 2/3 of bonds. I’ve had TIPS in funds for q many years in IRAs. Now have converted some of them in a back end TIPS ladder from 2040-2053, approximately. The real yields on those were between 2 and 2.5%. On average those will almost double in real terms at maturity. Those plus social security should cover most of our expenses for those out years. For nearer term years I still have some Tips in TIPS funds. I’m limited in IRA space such that I probably can’t by TIPS for all years. Over time I may try to do that. We also have ibonds for nearer term needs. Most people tend to buy n...
by JBTX
Sun Feb 25, 2024 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: How do people go bankrupt?
Replies: 39
Views: 3163

Re: How do people go bankrupt?

Know of a case of recent bankruptcy of young adult with mental health issues. Spending is a form of entertainment to address boredom as well as having extreme impulsiveness. Money is mostly spent as soon as received. Debt was used as a way to get desired things. The impulse to address either the need / desire or boredom greatly exceeds any rational reasoning about how such debt will be paid off. Medical debt made things worse. Difficultly holding a job made things worse. Covid period where jobs were harder to get made things worse.
by JBTX
Sun Feb 25, 2024 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: What got you out of poverty?
Replies: 111
Views: 12862

Re: What got you out of poverty?

whodidntante wrote: Sun Feb 25, 2024 11:44 am I was able to keep my college expenses very low by starting at a community college
This is a very viable and underrated path. I did one year at a community college and loaded up on credits. A friend of mine who eventually went to med school did the same thing. Two other friends became DO’s after 2 years community college.
by JBTX
Sun Feb 25, 2024 11:39 am
Forum: Personal Finance (Not Investing)
Topic: What got you out of poverty?
Replies: 111
Views: 12862

Re: What got you out of poverty?

I was lucky as i grew up in a middle class household and father made a good living. I think back to his generation though. They grew up in the Great Depression and WWII in a small town. That town was probably middle class comparatively at the time, but the surroundings were very modest. My dad’s dad died at a young age due to an accident and much of his childhood it was just him and his mother. What is remarkable about this small town is eventually among my dads and friends, one ended up being a Fortune 500 executive, one became a top financial officer of the largest city in the state, one became a president of a local bank in that same large city and one became president of a local utility in that city. To my knowledge most of the funded c...
by JBTX
Thu Feb 22, 2024 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to keep money in a main checking account safe?
Replies: 57
Views: 3475

Re: Best way to keep money in a main checking account safe?

I can’t imagine waiting for a 30 day paper statement to come in the mail to make sure everything is kosher.
by JBTX
Thu Feb 22, 2024 12:14 pm
Forum: Investing - Theory, News & General
Topic: Treasury Direct - Gift Box Question
Replies: 4
Views: 610

Re: Treasury Direct - Gift Box Question

To piggy back on this question, I didn’t know this and in 2023 and this year gifted $10k but left the interest in the gift box. Is it too late to gift the interest and not interfere with the $10k limit for 2024?
by JBTX
Tue Feb 20, 2024 3:03 pm
Forum: Personal Consumer Issues
Topic: Concept 2 rower question [rowing machine]
Replies: 27
Views: 3321

Re: Concept 2 rower question [rowing machine]

MobileChicane wrote: Tue Feb 20, 2024 12:35 pm More air = more drag. Raising the damper opens the flywheel and allows more air flow. Dirt blocks air flow and lowers drag at a given damper setting. The drag factor on the screen is correct regardless of the state of the machine.

Honestly, I wouldn't stress about drag factor at this point so long as it isn't cranked to the moon. Rowing at a low drag is a great way to learn as it forces good habits like a strong leg drive at the catch.
Thanks.
by JBTX
Tue Feb 20, 2024 11:17 am
Forum: Personal Consumer Issues
Topic: Concept 2 rower question [rowing machine]
Replies: 27
Views: 3321

Re: Concept 2 rower question [rowing machine]

Improving and tracking aerobic fitness on a C2 is a fun challenge. You are your own best competition, but if you are curious, C2 has an online leaderboard broken out by age, weight class, etc. The damper setting will vary from erg to erg, turning on how much dust and debris is in the flywheel. Your gym erg likely needs a good cleaning. The drag factor, in contrast, is directly transferable from erg to erg. A 120 on one C2 erg should pull the same as a 120 on another C2 erg. The ideal drag factor for you is something you figure out over time. A 120 approximates water. When learning, start at 120, or even lower, as you are more likely to injure yourself with poor technique at a higher drag factor. Beginner gains are massive and are due to im...
by JBTX
Sun Feb 18, 2024 8:27 pm
Forum: Personal Consumer Issues
Topic: Concept 2 rower question [rowing machine]
Replies: 27
Views: 3321

Re: Concept 2 rower question [rowing machine]

To follow up - Tried a few things on the gym rower tonight. Damoer setting vs drag number on monitor. 2-3. = 85 5-6 = 110 10 max = 135. Those drag numbers seem awfully low compared to what people have said here and otherwise on the internet. I tried some one minute intervals, with the goal of going at an 8:00 minute pace for 2000m. Or 250 meters for 1 minute. The best try was exactly 250 for one minute using damper setting 5-6. I was a maybe 220-230 using 2-3 - getting to 250 seems like it would have been a ridiculously fast row repetition. I was also just short of 250m using damper setting of 8. It honestly don’t think I could get to 8 minutes for 2000m on that machine. It would require me to repeat for 8 minutes what I can barely do for 1...
by JBTX
Sat Feb 17, 2024 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: Downsides of being a trustee of irrevocable trust
Replies: 22
Views: 2850

Re: Downsides of being a trustee of irrevocable trust

Both our kids out special needs in their own ways. Our most recent trust restatement this time around we named corporate trustees upon our passing. Previously we had named trusted and financially competent siblings of ours as trustees. Upon reflection we didn’t think it was fair to put that administrative burden on relatives, and also put them in a position of having to negotiate with a spendthrift adult child.

If you choose to do it I would read the trust and make sure to have the ability to pass it to a corporate trustee if it was too burdensome.
by JBTX
Sat Feb 17, 2024 9:33 pm
Forum: Investing - Theory, News & General
Topic: Ben Carlson : Is the stock market too concentrated?
Replies: 50
Views: 5278

Re: Ben Carlson : Is the stock market too concentrated?

Is the stock market too concentrated?

Compared to what? Based upon what criteria?

Based on the article, it is more concentrated on average but not wildly so compared to other major bull markets.

It is less concentrated than other countries, which is not that relevant IMO.

It is much more concentrated than all other countries combined. I’d say that is relevant because the market cap of the US is larger than the rest of the world combined, by 50%.

Is it too concentrated to be a well diversified equity portfolio? I suspect you could argue both sides of that.

It is too concentrated for my tastes, thus my preference for holding approximately global market weights.
by JBTX
Sat Feb 17, 2024 9:19 pm
Forum: Personal Consumer Issues
Topic: Any recommendation of a book that chronicles the downward spiral of an ordinary person
Replies: 102
Views: 9248

Re: Any recommendation of a book that chronicles the downward spiral of an ordinary person

Scubadude wrote: Fri Feb 16, 2024 8:10 am If you’re ever feeling happy; check out The Road it is a 2006 post-apocalyptic novel by American writer Cormac McCarthy. Your happiness will fade away quickly.
Yes. Really well done. And totally depressing.

It has been many years since I have seen that movie, but oddly from time to time various scenes come to mind.
by JBTX
Fri Feb 16, 2024 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question
Replies: 4
Views: 639

Re: Tax Question

I am currently working on my 2023 taxes with Free Tax USA and have run into a few issues (not necessarily with the software). 1. Online sports gambling has been legal in my state of residence for several years now. I know it goes against Boglehead philosophy to gamble, and I do it very responsibly, I did finish 2023 up a little over $3,000. The site I use, which is reputable and advertised everywhere, has not issued me a 1099 yet and I do not think they will. Any wager that wins $600 or more is reported to the IRS. How do I file and pay taxes without a 1099 being issued? 2. I am in construction equipment sales for work. With most purchases being financed, we are eligible for referral bonuses with certain third-party companies. I was sent a...
by JBTX
Fri Feb 16, 2024 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Guilt about having to spend Roth IRA money
Replies: 33
Views: 5339

Re: Guilt about having to spend Roth IRA money

The primary benefit if Roth is avoiding and optimizing future taxes. By decreasing your income and increasing your ACA subsidy that is the equivalent of avoiding/optimizing future taxes. Sooner or later the future is now.
by JBTX
Fri Feb 16, 2024 12:42 am
Forum: Investing - Theory, News & General
Topic: Consolidating Investment Accounts
Replies: 16
Views: 2645

Re: Consolidating Investment Accounts

The vanguard fund and the fidelity fund are two different funds, so no a conversion of one fund to another is not in kind, and would be a sale and a purchase, with taxable impacts if in a taxable account. If you transfer from vanguard to fidelity, you should be able to transfer the vanguard fund in kind to fidelity. You would own a vanguard fund at fidelity. Typically you probably wouldn’t purchase a new vanguard fund at fidelity due to fund transaction fees, but you could. However with an in kind transfer I suspect there aren’t any fees. Once you moved it to fidelity you would just leave the vanguard fund as is, don’t reinvest dividends. Any new purchases would be to a fidelity fund (or a vanguard etf is you wanted vanguard). This is my un...