Bogleheads.org

mptfan

It is actually even less than that if you look at it on an after-tax basis. Say you are in the 24% federal income tax bracket, your after-tax interest rate is more like 2.28%. Not necessarily. You are falling into the trap of believing that "all mortgage interest is taxable." That's not t...

mptfan

Do the finances together ... keep separate finances ... take turns managing the finances ... or get a divorce. There's another option...stay married and keep joint finances while the financial spouse handles the finances for the non-financial spouse and prepares for the contingency of the death of ...

mptfan

oldfatguy wrote: ↑Thu Apr 15, 2021 12:22 pm Being an adult who doesn't know how to manage your own finances is a dysfunction.

Perhaps, but it's a reality for some. So if you have a spouse who falls in to that category, what do you do?

mptfan

oldfatguy wrote: ↑Thu Apr 15, 2021 12:16 pm Yes, and just like with those who don't know how to manage their finances, there is often a spouse and/or other family members who are enabling them

So now you agree that there are some people who don't know how to manage their finances?

mptfan

There are certain basic things that are part of being an adult, and knowing how to manage your finances is one of them. And yet there are adults who do not know how to manage their finances. I know it's hard for some people on this board to fathom but there are people out there who just don't have ...

mptfan

I am always amused when people respond to questions like this and give their opinion about what the non-financial spouse *should* do now, i.e., they *should* take a more proactive role in paying bills, handling financial accounts, etc. I think this is unrealistic advice in most cases, you cannot for...

mptfan

My first advice is to simplify and consolidate. Reduce the number of accounts as much as possible and use the fewest number of accounts and credit cards as possible. And make sure your spouse has at least one credit card that is in his or her name, not as an authorized user on your account, this is ...

mptfan

If you don’t have a mortgage in retirement, you will have lower expenses, which opens up a lot more opportunities. You could bring your expenses low enough that your income qualifies you for substantial ACA credits, which would make your income needs even lower. And you can potentially keep your ta...

mptfan

illumination wrote: ↑Wed Apr 14, 2021 2:44 pmI actually think it's a smarter play to have a mortgage, I would argue it's essentially subsidized by the government to carry one.

For most people this is no longer true with the significant increase in standard deductions.

mptfan

1) It reduces risk. 2) It reduces expenses and the need for cash flow so that if you are retired you have a greater degree of control over your income tax liability by reducing your taxable income. 3) Humans are not robots, we are emotional creatures, and some of us derive more emotional pleasure fr...

mptfan

... it seems most people keep 3-6 months for their EF (some less) on a regular basis. How do you know this? I'm generalizing based on the countless threads I've read about EF's. I've also read countless threads about emergency funds and I don't think that's a fair generalization. I recall a variety...

mptfan

2Scoops wrote: ↑Tue Apr 13, 2021 7:48 am... it seems most people keep 3-6 months for their EF (some less) on a regular basis.

How do you know this?

mptfan

Their claim that it was legally required was false. This is one of my pet peeves...when someone falsely tells me that I am legally required to do something as a rouse to compel me to do something that they want me to do. This often happens when corporations have a corporate policy and they attempt t...

mptfan

I have several suggestions, you may choose to adopt any or none of them depending on your situation. 1. Use a password manager and share your credentials with people you trust or your beneficiaries. 2. Use a password manager without sharing your credentials and use the emergency access feature to al...

mptfan

I've heard the opposite, that ACH is cheaper than wiring. As far as being faster, wiring may be faster in some cases but I've heard that ACH has been getting faster too, in some cases being completed the next business day and I've even heard of same day ACH being available.

mptfan

This is concerning enough to me that I wouldn't want my GAP account on the phone if it was truly important to keep that account secure; like it had access to my life's savings. This is not an issue for me because I do not access or control my Google account from a Windows PC, in fact I do not perso...

mptfan

But on the Android phone you can "log out" of individual accounts; but you're not really logged out, you have to use the Android settings to "Remove Account", which entirely removes the account and its data (old emails). I still don't understand what you are saying here, how do ...

mptfan

a - I had set up a new Google account using my Google Pixel phone and elected the GAP (or APP. or GAPP). All good. I later logged out of that account on the phone. To my surprise I saw that existing emails for this account remained on the phone. All the information (email) was there, for anyone to ...

mptfan

I can't lose something I do not have.

mptfan

Collision damage waiver is only covering the replacement/repair of the rental car and possible "loss of use" to the rental company. If the accident involved you causing damage to someone else or their car or property you better have separate liability insurance and possibly umbrella cover...

mptfan

Wouldn't umbrella insurance accomplish the same objective as a credit card's collision damage waiver protection? Maybe, but an important difference is in the case of the collision damage waiver protection you do not have to make a claim against your own insurance policy and deal with the inevitable...

mptfan

I'm the one that pays the bills so it is a bit annoying not to see the card on the app and to have to either have him pay from his phone or log in from a computer. You can log in using his credentials and pay the bills that way without him having to do it. Another possible option is adding yourself...

mptfan

JohnFiscal wrote: ↑Thu Apr 08, 2021 2:06 pm Okay, I just tested, logged out of one Google account, uses hardware keys but not APP. I was not prompted for a PIN. I find this odd and confusing. I'll have to try with the APP account.

I registered a security key with my APP account within the last month and I was not asked for a PIN.

mptfan

I was not aware that some sites require you to enter a pin to register a security key, that has not happened to me yet. Maybe that is a new thing, part of the evolution of the security protocols? I don't know, but thanks for the heads up. It does sound like a pain in the posterior, but it does make ...

mptfan

rebellovw wrote: ↑Sat Apr 03, 2021 6:09 pmAlso I only need one key for everything. Not sure why you would need more than one key.

I think you need at least two security keys to enroll in the Google Advanced Protection Program. Even if you could enroll with only one key I do not think that would be wise.

mptfan

Lynnette, you are again misinterpreting what you quoted and you are apparantly misunderstanding what play protect does. Play protect does NOT prevent you from downloading apps from the play store... Google Play Protect helps you keep your device safe and secure. It runs a safety check on apps from t...

mptfan

I discovered that the reason I could not download any apps from the Play Store on my phone was that I used the google account that I had enrolled in Google's Advanced Protection Plan. I don't think that is the reason because I am enrolled in the Advanced Protection Program and I use that google acc...

mptfan

No, no and no. On surface level, posting this on a financial forum would likely receive a hard "no" but here are the competing ideas that are going through our heads. There is no "but," all of the "competing ideas" going through your heads are already baked in to the ha...

mptfan

shunkman wrote: ↑Thu Apr 01, 2021 7:17 amSo I vowed to myself to never rent one. But then I started a new hobby that takes up a lot of space in my garage and small basement. So I rented a storage unit near my home and moved some of our rarely used belongings to it.

Sounds like your "vows" don't mean much, just sayin.

mptfan

OP - I'm confused by your posting. Is your net worth a negative number right now? It might be -- in my early years with a mortgage (and a car loan) I had a negative net worth. It's not uncommon. I remember the silly feeling when my net worth went positive. Agreed, I had a negative net worth when I ...

mptfan

OSUperu wrote: ↑Wed Mar 31, 2021 3:43 pm So I think I’ve got enough skin in the game to have at least some involvement.

Does your father share this view? What you think does not matter, it's what he thinks that counts.

mptfan

OSUperu wrote: ↑Wed Mar 31, 2021 12:10 pm
mptfan wrote: ↑Wed Mar 31, 2021 11:58 am Did your father ask for your advice?
He has asked me before, but as more of a 'how's my son doing" rather than to glean/make his decisions.

So do not try to get him to see the light, stay out of his business.

mptfan

JoeRetire wrote: ↑Wed Mar 31, 2021 7:21 am Is that even legal?

Lol.

mptfan

Did your father ask for your advice?

mptfan

And yes, reading miscomprehension is strong with this thread. Lots of people who can't get past "safe" in "safest". To be fair, OP could have been better worded by saying "least risky" instead of "safest". He also used the word "safely." It cannot b...

mptfan

I am not understanding some of the responses here. I am clear about the inherent risk. Let me try and explain. You asked about the "safest" way to get a 7% return and you said you wanted to doing it "safely," and since you used variations of "safe" it is implied that y...

mptfan

But there is no safe way to earn 7% on investments. 7% is about the expected return of the stock market... I assume you mean 7% real return, correct? The OP did not indicate real or nominal return, but I think it's safe to assume that when people refer to return without so indicating that they are ...

mptfan

I have a personal objection to the term "human capital" because you don't own your job, but that's what financial economists call this. Human capital does not refer to one particular job, it refers to your ability to earn money in the future and that can be from any job or business or sel...

mptfan

JohnFiscal wrote: ↑Fri Mar 26, 2021 6:55 am why have dedicated hardware for a Google account then?

I don't know, I don't think it's necessary and I'm not aware of a security advantage.

mptfan

Are you particularly buying a new Chromebook for each new Google account? Can't Chromebooks accept more than one Google account? Yes, I can sign in with up to 5 Google accounts on my Chromebook and Chromebox, and if I am logged in with more than one Google account at one time I can easily switch be...

mptfan

So it seems to me (as an inexperienced user) that this setup of 2FA (using security key of the phone and multiple Yubikeys) is superior to APP as I have more choices. APP (at this time) only allows two security keys. The word "superior" is a matter of opinion. There is an inherent tradeof...

mptfan

I'm trying to become more comfortable with Yubikeys so this has been my experience. I tried to enter my phone as a security key on APP but there was this warning: Due to COVID-19, we’re making changes to protect the health of our workforce, resulting in changes to our enrollment process. While you ...

mptfan

The answer to your question is yes, anyone is allowed to gift any amount of money to anyone at any time, and that applies to the surviving husband.

mptfan

I agree that the Google APP is the gold standard for keeping your account secure, my Google account is enrolled in the APP and I sleep well at night. If you use the APP then the only method of 2FA available is a physical security key, all other means of 2FA are disabled, including the backup codes. ...

mptfan

This is true! It protects your Google account. On any hardware. But I still believe that it's intended for mobile devices and the for intended audience of people who may be especially targeted for political, business, social, and other nefarious reasons (not that their own actions are nefarious, bu...

mptfan

And based on that previous post I stand by my remarks. The GAP doesn't add any functions/features to the hardware keys themselves or to using them. GAP requires the use of the hardware keys as the 2FA, but this doesn't improve the safety of the hardware keys themselves. You also said it was especia...

mptfan

If you were already using a Yubikey (i.e) legacy account, you can probably add Yubikeys. But if you are already logged into a Smartphone, Google Prompts is the default. I don't understand. What do you mean by a "Yubikey legacy account?" The account is a Google account, the yubikey is not ...

mptfan

Lynette wrote: ↑Tue Mar 23, 2021 7:37 am You cannot use Yubikeys on a Google account if you are signed into that account on an ANDROID smartphone.

This is not correct. I've done it.

mptfan

I think that GAP simply adds additional protections of other types to the hardware device to protect the Chrome browser or Chrome operating system so that the Google account itself doesn't get compromised. And that it's especially intended for mobile hardware devices, eg: smart phones, rather than ...

mptfan

I don't think that the Google Advanced Protection ("GAP") system provides any further protection with or to the Yubikeys. Yes, it does. The Google Advanced Protection Program only allows physical security keys to be used as the second factor for 2FA, it disables SMS texting, backup codes,...

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