Search found 10589 matches

by Leesbro63
Thu Mar 28, 2024 10:21 am
Forum: Personal Finance (Not Investing)
Topic: How many credit cards do you have
Replies: 94
Views: 4320

Re: How many credit cards do you have

Jack FFR1846 wrote: Tue Mar 26, 2024 3:36 pm I have about 3 dozen. I actively use about 5. I sell tradelines on about 10. I get low balance forgiveness on about 7. Some are baking for future tradeline sales. Some were acquired to get the bonus for getting it and maybe spending so much in so much time. I see zero reason to cancel any of them. If you think this many reduces my credit score, it's 831, so no, it doesn't.
Is this were you sell the right to use your credit to someone who wants to build credit as an authorized user? Is this legal? How much do you get for doing this?
by Leesbro63
Thu Mar 28, 2024 8:50 am
Forum: Personal Consumer Issues
Topic: Registering a Car in South Dakota
Replies: 1
Views: 167

Registering a Car in South Dakota

I have a close family member and partner who retired and move around from AirBnB to AirBnb. Sometimes out of the country. Many different states. Some stays are for months and some for weeks. Their car lease, from when the had an actual residence in Nevada, was just up and they returned the car. Now they plan to head out of the USA for a few months soon. They do not have a permanent address, but maintain a post office "TYPE" address (a private company that provides this) in Nevada. But when you attempt to register a car or something, the system flags this as "not a real address". I'm sure that there are others who do this type of thing. Somewhere we heard that South Dakota is purposely friendly for this type of situation....
by Leesbro63
Thu Mar 28, 2024 6:10 am
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7769
Views: 1351986

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Statement from Fidelity on Reddit Re Cash Promotion: It's important to register for the promotion through a Fidelity representative prior to making the deposit. Once you've been registered, an email confirmation is sent. Another misrepresentation by FIDO. I was told we were being "registered", but received no e mail confirming registration, Of course, there is no place on the website to verify registration or status....... SO, make sure you call FIDO. and after speaking to three or four so-called "experts" and record the representative who knows about the "program" and confirms your registration. That representative said that he could not e mail/message a confirmation. When you say that you are recording the c...
by Leesbro63
Thu Mar 28, 2024 6:09 am
Forum: Personal Investments
Topic: CPI-U adjustment too small on AIG SPIA
Replies: 209
Views: 17723

Re: CPI-U adjustment too small on AIG SPIA

Interesting thread. For those who has this product, and if a similar product is available today, would you get it? Or would you advice someone else (assuming not as savvy as you who can notice the issue without eg coming across a forum thread) to get it? The short answer is "yes, definitely". The longer answer is "depending on how it's priced compared to a non-inflation adjusted annuity". Nisiprius well stated the concerns about the "near miss" in 2008...actually it was worse than a near miss but an actual failure that got bailed out. And as he said, it's unnerving that they don't seem to even be organized enough to make sure to not pay annuitants too much. But yeah, an inflation adjusted annuity is an investm...
by Leesbro63
Thu Mar 28, 2024 6:01 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

"Foot in the door" sales tactic. It's a low hurdle to sign up for a waiting list, no committment. Once you are on the waiting list, you are more likely to complete the sign up process. Yeah, that makes sense. I still wonder if they'll pay 3% on fairly large federal income tax payments. Even with a lower credit limit, I could make multiple federal tax payments each quarter as I top off my credit limit on the card with multiple payments in between statement closing dates. Or will they limit the total amount of 3% points? The PayPal Mastercard (no fee) will pay 3% on federal income tax payments (up to your credit limit) using the PayPal link at the three main payment sites. I don't know whether all three sites now have a PayPal link...
by Leesbro63
Thu Mar 28, 2024 5:59 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

Tell me more about paying federal income tax with a Paypal card to get more than 2.625% back. You may have misunderstood, the card is chase, pay the processor via PayPal, https://www.mymoneyblog.com/chase-freedom-5-back-federal-income-tax-payments.html This is from 2018. Does it still work? How does paying by credit card then paying by PayPal then paying through PaytaxUSA all connect and work? Seems like a 3rd level beyond the usual two levels (paying by credit card then the processor pays the IRS on your behalf). Yes. It takes no longer than putting in your card info. Chase Freedom has rotating 5% bonus categories every quarter. PayPal is not currently available this quarter. In addition, only $1500 of spending is eligible for the 5% rate...
by Leesbro63
Wed Mar 27, 2024 4:22 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

nalor511 wrote: Wed Mar 27, 2024 4:10 pm
Leesbro63 wrote: Wed Mar 27, 2024 4:06 pm

Tell me more about paying federal income tax with a Paypal card to get more than 2.625% back.
You may have misunderstood, the card is chase, pay the processor via PayPal,
https://www.mymoneyblog.com/chase-freed ... ments.html
This is from 2018. Does it still work? How does paying by credit card then paying by PayPal then paying through PaytaxUSA all connect and work? Seems like a 3rd level beyond the usual two levels (paying by credit card then the processor pays the IRS on your behalf).
by Leesbro63
Wed Mar 27, 2024 4:07 pm
Forum: Personal Investments
Topic: CPI-U adjustment too small on AIG SPIA
Replies: 209
Views: 17723

Re: CPI-U adjustment too small on AIG SPIA

I don't think financial errors can safely be ignored. So I called them today, with, of course, no meaningful results. But I do have one piece of information to share. The 800 number on the 1099-R appears to be wrong. The number THEY referred me to appears to be wrong. The number that finally reached someone who could verify that they know about the existence of my annuities was the one that appeared on my 2023 annual "fair market value" letter: 1-800-242-6771. And if nothing else, I think it was worth verifying that I was able to reach my financial institutions and that they acknowledged the existence of my accounts. Frankly, it was alarming to dial the 800 number on my 1099-R form and get told that they had no record of my accou...
by Leesbro63
Wed Mar 27, 2024 4:06 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

I'm still undecided on the IRA rollover, but the credit card news brought this back to the center of my attention. The 3% credit card cash back could be a nice bonus for many. For example, those who makes quarterly estimated tax payments will make 1.18% on the spread between the 3.00% cashback and the 1.82% credit card processing fee charged by the IRS. Especially for self employed individuals... You're telling me I can making money paying my taxes by using this card instead of EFT from my bank account? Yes, but, if you wait until chase freedom does a 5% paypal quarter, you can make more. Between our 4x chase cards we make $300 extra per year (gross, not counting the processing fees) Tell me more about paying federal income tax with a Payp...
by Leesbro63
Wed Mar 27, 2024 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

So I put myself on the waiting list. In addition to my original questions, I now wonder what and why a waiting list. 🤷🏻‍♂️ "Foot in the door" sales tactic. It's a low hurdle to sign up for a waiting list, no committment. Once you are on the waiting list, you are more likely to complete the sign up process. Yeah, that makes sense. I still wonder if they'll pay 3% on fairly large federal income tax payments. Even with a lower credit limit, I could make multiple federal tax payments each quarter as I top off my credit limit on the card with multiple payments in between statement closing dates. Or will they limit the total amount of 3% points? The PayPal Mastercard (no fee) will pay 3% on federal income tax payments (up to your credi...
by Leesbro63
Wed Mar 27, 2024 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

chinchin wrote: Wed Mar 27, 2024 11:34 am
Leesbro63 wrote: Wed Mar 27, 2024 7:29 am So I put myself on the waiting list. In addition to my original questions, I now wonder what and why a waiting list. 🤷🏻‍♂️
"Foot in the door" sales tactic. It's a low hurdle to sign up for a waiting list, no committment. Once you are on the waiting list, you are more likely to complete the sign up process.
Yeah, that makes sense. I still wonder if they'll pay 3% on fairly large federal income tax payments. Even with a lower credit limit, I could make multiple federal tax payments each quarter as I top off my credit limit on the card with multiple payments in between statement closing dates. Or will they limit the total amount of 3% points?
by Leesbro63
Wed Mar 27, 2024 11:28 am
Forum: Personal Investments
Topic: CPI-U adjustment too small on AIG SPIA
Replies: 209
Views: 17723

Re: CPI-U adjustment too small on AIG SPIA

Third payment of the year. Overpayment has still not been corrected. Boo. It's starting to get to the point where I ought to contact them, because the annoyance of trying to do that may be less than the annoyance of letting it run on uncorrected. We need a general discussion of "institutional continuity risk!" Given that you’ve now gotten three payments that are too high, the chance that the payments for the remainder of 2024 will also be too high is near 100% (in my opinion). That is, absent some outside intervention from either a policyholder or an “internal audit” of these policies. Near the end of 2024, someone at AIG should “pick up the file” and set the payments for 2025. But given institutional inertia, I think there’s a g...
by Leesbro63
Wed Mar 27, 2024 7:55 am
Forum: Personal Finance (Not Investing)
Topic: A note for anyone using FreeTaxUSA and paying taxes due with a credit card
Replies: 4
Views: 730

Re: A note for anyone using FreeTaxUSA and paying taxes due with a credit card

I’m trying to learn more about the new Robinhood 3% back card. Will be better than the 2.625% Bank of America card, for paying 1.82% tax credit card processors IF IT IS REAL (no hidden exclusions or restrictions)
by Leesbro63
Wed Mar 27, 2024 7:32 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

So I got the credit card offer and put myself on their waiting list. What does a credit card waiting list mean? Can I get 3% back on federal income tax payments paid by credit card? Is there a limit on the amount of charges that qualify for the 3% rebate? Will the 3% be permanent, or is this a limited time teaser thing?
by Leesbro63
Wed Mar 27, 2024 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

So I put myself on the waiting list. In addition to my original questions, I now wonder what and why a waiting list. 🤷🏻‍♂️
by Leesbro63
Wed Mar 27, 2024 6:05 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

MrWasabi65 wrote: Wed Mar 27, 2024 5:58 am Just saw further details posted on X:

$5 monthly fee

- 3% cash back on everything
- 5% cash back on travel
- No international fees

As well as:
- 5% APY on uninvested cash
- 3% IRA match
This sounds like you are confusing the 3% matching brokerage bonus with this 3% credit card. They are two different "three percent things", I believe.
by Leesbro63
Wed Mar 27, 2024 6:05 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

nps wrote: Wed Mar 27, 2024 5:47 am
Leesbro63 wrote: Wed Mar 27, 2024 5:00 am But my big questions still have not been answered: Are there catches?
Yes, you need to maintain paid Gold membership
For the credit card or for the Robinhood brokerage account with the 3% match? I'm wondering if these two "Three Percent Things" are getting confused. Even if it's $5/month or $7/month for Gold, that's effectively an $84/year fee credit card. Well worth being able to recoup 1% (after 2%ish credit card charge fee) of income tax (for those of us who pay directly) and other spending.
by Leesbro63
Wed Mar 27, 2024 5:00 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Re: Robinhood 3% Rewards Visa Card

Today I received an email offering a Robinhood 3% rewards Visa card issued by Coastal Community Bank. Has anyone checked this out? Can I get 3% back on federal income tax paid? This sounds too good to be true. I received the same offer. There is a waiting list. It's unlikely you would get the card before April 15 for 2024 federal income tax. Also too late for my property taxes. Fortunately or unfortunately (depends on your perspective! :D ), I continue to pay taxes every quarter. Is the waiting list a function of small bank can't process fast? Or is it a function of they only want to issue a limited amount of cards? I never heard of a waiting list for a credit card. They either accept your application and issue the card or they reject it f...
by Leesbro63
Wed Mar 27, 2024 4:20 am
Forum: Personal Finance (Not Investing)
Topic: Robinhood 3% Rewards Visa Card
Replies: 20
Views: 1718

Robinhood 3% Rewards Visa Card

Today I received an email offering a Robinhood 3% rewards Visa card issued by Coastal Community Bank. Has anyone checked this out? Can I get 3% back on federal income tax paid? This sounds too good to be true.
by Leesbro63
Tue Mar 26, 2024 3:59 pm
Forum: Personal Investments
Topic: I think my Mom, recently widowed, is looking at a tax bomb
Replies: 28
Views: 4920

Re: I think my Mom, recently widowed, is looking at a tax bomb

I would think that with 2024 and 2025 being the last of the low tax years.... and your mom for tax year 2024 filing a joint tax return.... She would want to Roth convert up to just below the IRMAA limit. I don't know how the limit works when your spouse passes. If she can still consider 2024 to be MFJ for Medicare, then that's like $200k. Trying to stay in the 10% bracket is sort of silly in my opinion. I was involved in something similar. The widow got an IRMAA exemption for the one year when the husband died and she converted a biggish traditional Ira to a Roth (same year as husband's death/still filing jointly). It all played out the following year when the big IRMAA notice came. Used form SSA-44. Death of a spouse is an acceptable IRMA...
by Leesbro63
Mon Mar 25, 2024 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth 401K AND Back Door Roth IRA
Replies: 13
Views: 787

Re: Mega Back Door Roth 401K AND Back Door Roth IRA

I will be glad to help you understand this issue. Yes, if your younger family member has already contributed heavily to a Roth 401(k), they may not have the option to make a backdoor Roth IRA due to income restrictions. A backdoor Roth IRA is a strategy that allows you to make contributions to a Roth IRA despite exceeding income limits by first making contributions to a traditional IRA and then converting them to a Roth IRA. The above posts say something different. That the income limits don’t disallow traditional IRA contributions; they only disallow deducting those contributions. Put another way, the income limits don’t eliminate doing a non-deductible traditional IRAs. And common sense would not miss the chance to immediately convert th...
by Leesbro63
Mon Mar 25, 2024 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Income Limits For IRA Contributions
Replies: 12
Views: 718

Re: Income Limits For IRA Contributions

popoki wrote: Mon Mar 25, 2024 4:40 pm "There are income limits for Roth contributions"

This is what I don't understand. Wouldn't the federal government want persons in high income tax brackets to (optionally) pay more tax?
The answer to that goes back to how the backdoor Roth became a thing in the first place. I won’t go into that, because it borders on stuff that we cannot be discuss here. But read up on the backdoor Roth IRA for your answer.
by Leesbro63
Mon Mar 25, 2024 4:33 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7769
Views: 1351986

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Because Vanguard charged me 12.25% interest when I had forgotten (presumably) to move some money out of a Vanguard MM fund into the core account after a bond purchase, I'm thinking about moving some of the Vanguard money into Tastytrade to get a bonus. At the tier that I'm thinking of moving over, the bonus would be over 1%. Wondering how it works out profitable for TT? What if I were to just park all the funds at TT in a 3-month T-bill ETF and let it sit there for 12 months and then withdraw all (or most) of the money after the 12 months? How do they make a profit off of that? What type of trading would a typical customer need to do at TT where they actually recoup the bonus if it's over 1%? Would the customer need to be using margin and ...
by Leesbro63
Mon Mar 25, 2024 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Income Limits For IRA Contributions
Replies: 12
Views: 718

Re: Income Limits For IRA Contributions

YES! Now I remember when examining this a while back, the “pro-rata rule” was the fly in the ointment. Thank you for jogging my memory. Yes both sibling and their spouse have biggish traditional IRAs. I guess this couple could still do non-deductible traditional IRA contributions, but other than kicking tax on earnings into the future, I see no other benefit. And in this case, the tax rate won’t be lower in retirement. Maybe higher. If there is no pro-rata, then this is a no-brainer to do a backdoor roth. Also keep in mind that IRA are individualized. This mean if one of the couple have traditional IRA and the one does not, the one who does not can do backdoor roths. If they have traditional IRA and the asset is rollover from 401K, you can...
by Leesbro63
Mon Mar 25, 2024 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Income Limits For IRA Contributions
Replies: 12
Views: 718

Re: Income Limits For IRA Contributions

This post is being inspired by another current post of mine regarding backdoor Roth IRAs. So if the same "tax people" see this, thanks for bearing with me, as this is a related but separate question. I'm coming to realize, I think, that income limits for IRA contributions are really income limits for being able to deduct IRA contributions. Right? Can my retired sibling, who has a very high investment income and a spouse who still works, and contributes the max to a small business 401(K), still contribute $7500 for 2023 ($8000 for 2024) to a non-deductible Traditional IRA, then "back door" covert to Roth? I was under the impression that the income limits meant you can't do it but I'm looking for confirmation that you can...
by Leesbro63
Mon Mar 25, 2024 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Income Limits For IRA Contributions
Replies: 12
Views: 718

Income Limits For IRA Contributions

This post is being inspired by another current post of mine regarding backdoor Roth IRAs. So if the same "tax people" see this, thanks for bearing with me, as this is a related but separate question. I'm coming to realize, I think, that income limits for IRA contributions are really income limits for being able to deduct IRA contributions. Right? Can my retired sibling, who has a very high investment income and a spouse who still works, and contributes the max to a small business 401(K), still contribute $7500 for 2023 ($8000 for 2024) to a non-deductible Traditional IRA, then "back door" covert to Roth? I was under the impression that the income limits meant you can't do it but I'm looking for confirmation that you can,...
by Leesbro63
Mon Mar 25, 2024 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth 401K AND Back Door Roth IRA
Replies: 13
Views: 787

Re: Mega Back Door Roth 401K AND Back Door Roth IRA

The tax return for 2023 needs to be amended (or can Form 8606 just be sent to the IRS by itself?) with Form 8606. Much heat but little light has been shed on this question. It's not wrong to send a 1040-X along with the 8606, with the explanation "adding Form 8606" as the reason for amending. It may also work to send the 8606 by itself. For that matter, not sending a TY2023 8606 at all might also work for this situation, as long as the TY2024 8606 that documents the conversion uses the correct carry-forward basis. Then, as early as the next day, $13,500 is converted to Roth. There is no other traditional IRA, so there's no pro-rata problem. Then next tax season this all reconciles on the 2024 tax return. There should be no tax (o...
by Leesbro63
Mon Mar 25, 2024 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth 401K AND Back Door Roth IRA
Replies: 13
Views: 787

Re: Mega Back Door Roth 401K AND Back Door Roth IRA

The 2023 contribution (flagged for 2023) can be done up to 4/15, and the 2024 conversion done right afterward. However, a 2023 8606 must be filed to report the non deductible contribution. Suggest that it be filed in May with a 1040X for 2023. I've done back-door Roth tax returns for another family member so I'm familiar. Please correct me or confirm for me. This family member opens a Traditional IRA and deposits $6500 for tax year 2023. They also contribute $7000 for tax year 2024, perhaps a day later to be sure stuff doesn't get goofed up. The tax return for 2023 needs to be amended (or can Form 8606 just be sent to the IRS by itself?) with Form 8606. I'm guessing, but haven't run the software yet, that the rest of the return will be the...
by Leesbro63
Mon Mar 25, 2024 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth 401K AND Back Door Roth IRA
Replies: 13
Views: 787

Re: Mega Back Door Roth 401K AND Back Door Roth IRA

I've been Mega backdoor Roth + Backdoor Roth IRA for the last few years, I actually got busy late last year and forgot to the Backdoor Roth in calendar 2023, so just a few weeks ago I did both the 2023+2024 tax year tIRA contribution and then converted the total to Roth. One has until April 15 2024 to make the 2023 tIRA contributions I found this guide helpful for the tax filing details, and he has a section covering "late" contribution scenarios like what I just did: https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/#late Thanks for the quick reply. The link says they can still do this for 2023 through April 15, 2024. Great. But the link isn't clear if this can still be done if the tax return has been filed. I assume ...
by Leesbro63
Mon Mar 25, 2024 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth 401K AND Back Door Roth IRA
Replies: 13
Views: 787

Re: Mega Back Door Roth 401K AND Back Door Roth IRA

FiveK wrote: Mon Mar 25, 2024 11:19 am High income does not prevent using the backdoor Roth process. See that article for more.
They already filed their 2023 federal tax return. Can they still do this for 2023 then file an amended tax return?
by Leesbro63
Mon Mar 25, 2024 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth 401K AND Back Door Roth IRA
Replies: 13
Views: 787

Mega Back Door Roth 401K AND Back Door Roth IRA

I have a young family member who has been working at Big Law for a short time. They did the mega back door Roth 401K in 2023 (first year earning "big money"). Did they also miss an opportunity to do a backdoor Roth IRA? Or does their high income prevent that?
by Leesbro63
Mon Mar 25, 2024 11:01 am
Forum: Personal Consumer Issues
Topic: Lemon Law Question in Pennsylvania
Replies: 17
Views: 1250

Re: Lemon Law Question in Pennsylvania

UPDATE FROM THE ORIGINAL POSTER: Ok, it's a few weeks later and Subaru first updated the software then, on another visit, replaced the Infotainment Unit hardware and I still have the problem. I've looked online and see that this problem is common in 2023 and 2024 Subaru cars with the new, updated wireless Infotainment Unit that they started using in some 2023 models and now for 2024 in most models. The oldest I can find is a one year old report of this. Add this "call mic goes out" (similar to "mute") to the non-working wireless phone charger that "they're working on", and I'm sorry I bought the car. It's been to the dealer three times and is fully documented. The people at the Subaru problem center have assign...
by Leesbro63
Mon Mar 25, 2024 10:57 am
Forum: Personal Finance (Not Investing)
Topic: In-laws 529 for grandkids, bite my lip or say something?
Replies: 58
Views: 5898

Re: In-laws 529 for grandkids, bite my lip or say something?

I put money in 529s for my grandkids and the other grandparents do not. I wish I had your problem!
by Leesbro63
Mon Mar 25, 2024 4:25 am
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 219
Views: 25604

Re: The best game-changing financial advice you ever received (or "discovered")

I remember as a young man of 20-21 years old speaking to an older relative, probably in his late 40s or early 50s, about buying and financing my first car, and I made the comment that I was looking forward to the day when I pay off the car loan so I won't have any more car payments. My older relative spoke in a dismissive tone to indicate that I was being young and naive and said "You will always have a car payment." As a young man that comment struck me, I was surprised that my older relative was not able to own a car without having a car payment, it seemed odd and not financially sound, and even at that young age I knew that did not sound right and I was determined to prove him wrong, at least in my own mind. And I did. Did you...
by Leesbro63
Sat Mar 23, 2024 12:36 pm
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11808

Re: When brand names matter and when they don't

OrangeKiwi wrote: Sat Mar 23, 2024 7:01 am
gunny2 wrote: Thu Mar 21, 2024 10:22 pm
Ketchup: Yes. There's Heinz and the rest. Hunts is passable in a pinch and the rest suck.
Heinz is excessively sweet. Portland Ketchup is preferable. Heinz has double the added sugar, double the sodium, and 5 more Calories. Just comparing the ingredients makes Heinz less appealing.

https://www.heinz.com/products/00013000 ... to-ketchup

https://portlandiafoods.com/products/portlandia-ketchup
But it’s Heinz! You’ll be deported from Pittsburgh if you’re ever caught eating any other ketchup.
by Leesbro63
Fri Mar 22, 2024 7:52 pm
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11808

Re: When brand names matter and when they don't

Arboecars wrote: Fri Mar 22, 2024 5:51 pm
Leesbro63 wrote: Fri Mar 22, 2024 8:15 amLexus
Dunno about that!
A well equipped Toyota Camry or Corolla these days are just as good as a similar Lexus model.
As good but not quite as nice.
by Leesbro63
Fri Mar 22, 2024 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question: Paying IRS Balance According to Turbotax
Replies: 6
Views: 558

Tax Question: Paying IRS Balance According to Turbotax

So today I went to Efile my Federal income tax return. I owe a big balance. I figured I'd Efile with Turbotax and then use PAYUSATAX.com with my credit card, and pay the PAYUSATAX 1.82% fee. But Turbotax has a page, just before you Efile, where you have to choose how you will pay. The "pay by credit card" option says you have to use their 2.49% fee credit card servicer. I'm not buying it, but I want to get confirmation here. I'm going to choose "I will mail a check", where it tells you that you can file now and mail the check by April 15th. But I'll then actually use PAYUSATAX.com to make the payment. I assume all of this is just for Turbotax to make money off the bigger credit card fee, but that if I do it my way it wil...
by Leesbro63
Fri Mar 22, 2024 11:41 am
Forum: Personal Consumer Issues
Topic: Bought a new Lexus - can't get a second key for 3-5 months???
Replies: 54
Views: 6158

Re: Bought a new Lexus - can't get a second key for 3-5 months???

UPDATE FROM OP - I visited the dealership today, and learned that our car was "digital key" compatible. So, after a few minutes of manipulation by the "technology guy" at the dealership, my phone now acts as a "key fob". So DW can start and drive the car with the "real" key fob. And I can start and drive the car using my phone. HOORAY!! The dealership technology guy told me that Lexus has now made second keys available for all cars manufactured in November 2023 and earlier. So, that means that there is (at maximum) a five-month backlog on second keys. And he said that Lexus appears to be catching up rapidly with second keys to fill the gap, so maybe there will be a time in the near future when every ...
by Leesbro63
Fri Mar 22, 2024 9:39 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

privateID wrote: Fri Mar 22, 2024 9:37 am I guess my second point there is more controversial. I always have a hard time believing anything is a once-in-a-lifetime deal. There will be more deals in the future. Maybe not as good, but close enough. As for Fidelity/Vanguard offering one, no one really knows. They want your business too. If they can offer a deal where they will lock you up for a long time, I can imagine they will be creative.
Vanguard has never offered brokerage bonuses, to my knowledge.
by Leesbro63
Fri Mar 22, 2024 9:39 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

veggivet wrote: Fri Mar 22, 2024 9:36 am Other than RH 3%, the best I'm aware of in the large brokerage department was a Fido offer to me and other posters on the brokerage bonus thread of $7500 for 1 mil.

I mentioned a Tasty Trade bonus to my Fido rep a while back, and he claimed he had never heard of them...😁
I'm NOT a new customer to Fidelity, but the best current offer I could get was a puny $1000 for $1M (.1%) .
by Leesbro63
Fri Mar 22, 2024 9:33 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

tj wrote: Fri Mar 22, 2024 9:31 am
Leesbro63 wrote: Fri Mar 22, 2024 9:25 am
veggivet wrote: Fri Mar 22, 2024 9:20 am Large, big name, established brokerages will never offer 2% bonuses, imho. I think RH 3% bonus is a one off in the industry.
Who is offereing 2% now? Who is even offering 1% now? $10,000 for $1M? Where?
Tastytrade - $2k for $100k.

https://support.tastytrade.com/support/ ... 3000678965
OK! You made your point, but only sorta. Because I wouldn't exactly call Tastytrade a big name, established brokerage.
by Leesbro63
Fri Mar 22, 2024 9:26 am
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 219
Views: 25604

Re: The best game-changing financial advice you ever received (or "discovered")

Real estate; learned how to BRRRR, A Little late though. Purchased a foreclosure for my kids to live in for college. Much cheaper than student housing with extra room rented out to offset most of cost. Unfortunately I left so much money in house that I couldn't buy another one for awhile 10years later I read up on and tried BRRRR. Managed to buy 2 houses, with only 10k of my funds left invested in each one after refinancing. Five years later have conservatively $350k equity. Equity increasing by about $7k per year just on mortgage principal payments plus generating $15k cash flow a year with very conservative reserves for expenses/ vacancy, plus increases in property value. With rapid rise in house prices it would be difficult for me to re...
by Leesbro63
Fri Mar 22, 2024 9:25 am
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

veggivet wrote: Fri Mar 22, 2024 9:20 am Large, big name, established brokerages will never offer 2% bonuses, imho. I think RH 3% bonus is a one off in the industry.
Who is offereing 2% now? Who is even offering 1% now? $10,000 for $1M? Where?
by Leesbro63
Fri Mar 22, 2024 8:33 am
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 219
Views: 25604

Re: The best game-changing financial advice you ever received (or "discovered")

RJC wrote: Fri Mar 22, 2024 8:30 am Mr. Money Mustache site which eventually lead to this site. I guess they like to talk a lot about Bogleheads on their forum which got me curious.
I loosely follow some of the more popular "other" financial bulletin board sites. "Bogleheads" is the "Cadillac" (showing my Boomerness) site always referenced. I think much of that is due to the great moderation of this board. The bad stuff that happens on many other bulletin boards isn't allowed to happen here. The other thing is that Bogleheads is older and has an older crowd. More people who have been around the financial block, versus some of the boards with young folks chasing the next Gamestop.
by Leesbro63
Fri Mar 22, 2024 8:29 am
Forum: Personal Consumer Issues
Topic: When brand names matter and when they don't
Replies: 193
Views: 11808

Re: When brand names matter and when they don't

armeliusc wrote: Fri Mar 22, 2024 8:15 am Paper Towel. As someone who does most of the clean up for the family, the cheap thin stuff just irritates me. So much so that I bring my own rolls of paper towel if we are traveling & staying at AirBNB or cabin-type places.
For what it's worth, I've found the Sam's Club paper towels to be 95% as good as Bounty.
by Leesbro63
Fri Mar 22, 2024 8:18 am
Forum: Investing - Theory, News & General
Topic: Reset 4% withdrawal floor if portfolio increases in value?
Replies: 93
Views: 8020

Re: Reset 4% withdrawal floor if portfolio increases in value?

People have long noted the paradox that the 4% rule can and does produce different "allowances" for the same year given different starting points. If you retire in year Y, and the market goes up more than inflation, and your friend retires in Y+1, the rule will allow your friend to withdraw more, each and every year. But the studies simply calculate the overall percentages of success over all starting points. The studies say, for example, that for a 4% initial withdrawal, for a randomly chosen starting year, 95% of all retirees might have had their money last thirty years. They don't say that the probabilities are the same for every retiree in every year. The problem is always predicting the future. We feel intuitively that at th...
by Leesbro63
Fri Mar 22, 2024 5:39 am
Forum: Investing - Theory, News & General
Topic: Reset 4% withdrawal floor if portfolio increases in value?
Replies: 93
Views: 8020

Re: Reset 4% withdrawal floor if portfolio increases in value?

So what would be the starting SWR if the plan, without increasing risk, was to re-retire after every good year, but also take an inflation increase after a bad year. 3%? 2%?
by Leesbro63
Thu Mar 21, 2024 6:58 am
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 219
Views: 25604

Re: The best game-changing financial advice you ever received (or "discovered")

digit8 wrote: Thu Mar 21, 2024 6:40 am There is a lot of Ramit Sethi stuff I disagree with or doesn’t work for me personally, but the idea of cutting costs ruthlessly on things you don’t care about so you can spend lavishly on the things that you do was definitely a financial life changer. Seeing things through the lense of the value I’m getting out of it more than the mathematical cost has improved my financial and emotional outlook in life.
Ramit’s podcasts drive me crazy. Reminds me of Dave Ramsey. A lot of good. Some not good at all. Basically with Ramit my complaint is his selective use and dismissal of an accumulation mentality. He’ll encourage a budget and low debt, then tell the couple they have $1.5 million saved so live a “rich life” with some crazy spending.
by Leesbro63
Wed Mar 20, 2024 6:48 pm
Forum: Investing - Theory, News & General
Topic: Robinhood 3% IRA Match
Replies: 1550
Views: 119674

Re: Robinhood 3% IRA Match

Can someone explain the situation to me please. ...what would I get for the $500k transfer from Schwab to Robinhood. Also, can the transfer be in-kind or do I have to sell the equities and transfer cash? The transfer from Vanguard to TD was in-kind and that really helped. Is there withdraw or early penalty or any fees paid to IRS or Robinhood, beside the Gold membership, for this transaction? Transfer in kind, no selling. You'll get a 3% bonus, just like everyone Else. You'll pay for gold for a year. RH has a $100 transfer-out fee you'll pay in 5yrs if you leave. If you withdraw before 5yrs, or cancel Gold before 1yr, you lose 2/3 of that bonus. The Terms answer all your questions. https://robinhood.com/us/en/support/articles/ira-gold-matc...