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Is there any other good reccomendation for a Roth RIA company besidesvanguard? They don't think I exist o.O
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May 27, 2016 02:07
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Have you talked to a human being at Vanguard? It should either be something that will be solvable with a few minutes on the phone, or it'll block you from setting up a Roth anywhere else. If you truly can't use Vanguard and Vanguard alone for some strange reason, Schwab and Fidelity are OK. Like Vanguard, they charge fees on funds outside of their corporate family, but both firms have good low-cost index options.
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May 27, 2016 02:30
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Nah haven't called them yet was going ot do it tomorrow, was asking just incase. Thanks for the help.
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May 27, 2016 02:32
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Yeah, Schwab and Fidelity reputedly have much better customer service than Vanguard, too. Haven't tried 'em myself.
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May 27, 2016 03:38
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slap me silly posted:Yeah, Schwab and Fidelity reputedly have much better customer service than Vanguard, too. Haven't tried 'em myself. I deal with Schwab through my employer's 401k and Vanguard for all my IRA and 529 needs. I personally find Vanguard's website and phone support far superior.
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May 27, 2016 03:56
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slap me silly posted:Yeah, Schwab and Fidelity reputedly have much better customer service than Vanguard, too. Haven't tried 'em myself. Schwab's customer service has always been great when I call; I haven't had to use Vanguard's customer service yet so I don't know they compare.
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May 27, 2016 05:10
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I've had nothing but good experiences with Vanguard customer support, but I've only needed to talk to them a handful of times. Apparently, when you get to the Flagship Select level they give you free blowjobs or something, and they recently cut the qualifying amount you need invested in half!
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May 27, 2016 14:29
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Rich people stealin' all mah customer services 
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May 27, 2016 15:24
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What's the thoughts on something like this? I use 8tracks every day but I don't know much about investing/buying shares https://blog.8tracks.com/2016/03/22/together-we-are-making-crowdfunding-history/ "This week, we’re filing with the SEC to make it possible for anyone to buy shares in 8tracks — making us one of the very first music companies to announce an equity crowdfunding round. Over the past couple of months, we’ve asked our listeners and DJs if they’d contribute to this crowdfunding path for 8tracks. The response has been astounding, with over $30,000,000 of investment interest expressed by 30,000+ fans! [...] This type of crowdfunding hasn’t always been available to startups. Until last summer, only accredited investors — people who earn more than $200,000 per year or have a net worth greater than $1 million — were primarily allowed to buy shares in private companies without relying on very particular regulatory exemptions. Thankfully, the US Jobs Act now makes it possible for anyone to invest in emerging companies. With only $3.3 million in total funding, 8tracks has accomplished much over the past 8 years — serving 16+ million listeners over time and streaming more than 20m hours per month. New funding will allow us to bring 8tracks back to a global audience, extend access to new platforms in the home and car, and make it easier for listeners to find playlists they’ll love. We’ll also be equipped to pursue direct deals with record labels to offer a complete music library for making playlists on web and mobile. The SEC normally takes two or three months to review applications, so we’re planning to launch our live funding round near the end of May or early June."
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May 29, 2016 17:32
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Toriori posted:What's the thoughts on something like this? I use 8tracks every day but I don't know much about investing/buying shares As an investment opportunity? Probably terrible. I don't claim any knowledge on the service or industry, but it strikes me as a niche service, with little prospect for long term growth or profit. All this in an industry dominated by much larger, much better financed players with much better lawyers. A best case scenario is probably some success followed by being bought by one of those big players. Seems unlikely to offer much prospect for financial returns. If you really like the service, and are passionate about their mission or whatever, then sure throw a few bucks their way. I'd just view it as a donation rather than an investment.
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May 30, 2016 07:29
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Probably a question better fielded by the stocks megathread, but my understanding is that you are always going to be better off investing in index funds or other diversified vehicles than directly into a company, unless you happen to have a lot of industry knowledge and a reason to believe you can better judge the value than the millions of other people trading. Edit: Or if you have some way to get the stock at a competitive price, like some stock options through employment offer. Ashcans fucked around with this message at 18:34 on May 30, 2016 |
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May 30, 2016 14:59
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Don't invest in any private company, even if you have decades of experience in this area you're more likely than not to lose your entire investment with no return. I wonder how many more crowdfunding clusterfucks have to happen before people finally wise up or the government steps in and sets up some rules.
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May 31, 2016 13:44
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Investing in a private company is like playing at a casino. Sure, you might hit it big, but you're more likely than not to lose your money so if you're entirely okay with that and consider it a fun hobby then by all means go for it. But if you're planning your retirement on it then you need to heed the above posters' suggestions and walk away quickly.
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May 31, 2016 14:42
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Pryor on Fire posted:Don't invest in any private company, even if you have decades of experience in this area you're more likely than not to lose your entire investment with no return. They did set up some rules. To make it easier for anyone to be a venture capitalist 
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May 31, 2016 14:51
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I'm 0/2 looks like it's soon to be 0/3 on kickstarter projects since the guy in the latest one has dropped off the face of the earth for three months now. I'm only out like $400 but still I can't wait until this shitshow spreads to startup equity funding in the thousands of dollars instead of just toys for hundreds of dollars. And don't even get me started on all the millionaires using gofundme for some stupid pet art project for their wife just because they can, that's the sort of poo poo that makes me think it's time to kick off the revolution.
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May 31, 2016 16:28
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Thanks for the thoughts, I also figured there was little to no actual reward unless they got bought by some giant company.
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Jun 1, 2016 12:33
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So quick question. I got a new credit card (total of two) about three years ago and I posted here and was told its better not to cancel it as far as credit score goes and just use it for odds and ends. Is there a magic dollar amount number for monthly usage or amount of separate charges? The new card gets used heavily and I have three separate recurring monthly charges going to the old one totaling about $90.
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Jun 1, 2016 21:54
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Nostalgia4Dicks posted:Is there a magic dollar amount number for usage?
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Jun 1, 2016 22:00
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I got a comission check for 20k. I have no debt, i owe like 6g on my car and thats it. What should i do with it.
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Jun 2, 2016 17:09
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Do you have an IRA? What are your other goals? What's the rate on the car note?
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Jun 2, 2016 17:16
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KYOON GRIFFEY JR posted:Do you have an IRA? No I don't think so....but I have a 401k Idk to have a bunch if money when I retire ...or save for a house .014 I think.....I pay 210 a month and 3$ in interest...
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Jun 2, 2016 18:10
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If you aren't taking advantage of employer matching on the 401k, bump your contribution amount up to take advantage of the match. Then throw $5,500 in to a Vanguard IRA or Roth this year and save $5,500 to throw in next year. Put the rest in your house fund, high yield savings account probably? Your car note is super cheap, may as well just pay it off over time.
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Jun 2, 2016 18:12
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Sorry if this is a dumb question but did you pay taxes on the $20k already? If not then there's your first order of business right there 
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Jun 2, 2016 18:13
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Waroduce posted:I got a comission check for 20k. I have no debt, i owe like 6g on my car and thats it. What should i do with it. Do you have a 3-6mo emergency fund? If you want to save for a house, I'd use this to start, once your efund is taken care of. If not, max your Roth IRA.
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Jun 2, 2016 18:17
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Question about credit utilization. I just got a capital one secured card for no reason other than to build credit, so I'm trying to set up a system to use the card that looks the best on a credit report, while keeping the balance on the card easily manageable. Right now my plan is to have my phone payment automatically withdraw from my credit card, and then my credit card automatically pull from my checking account, so my credit card would just be a middle man for my phone. It's only a $60 payment and it's not something I've had any trouble with keeping up with, so I figured it'd be a good payment to build credit with. So for the credit utilization question, do I need to try and keep some balance on the credit card all the time? I saw someone mention they always kept $8 in theirs, and I wondered if I should do something similar, rather than just having my credit card pay my cell phone bill, and then my checking account pay off the credit card balance in full. The other question is lets say that my phone payment is on the 21st, and my credit card automatically withdraws from my checking account on the 20th, so the $60 balance sits there for a month before being paid. Would I need to worry about having to pay any interest if it worked out that way? I tried reading up on how they calculate interest and it is really convoluted for my financially illiterate rear end.
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Jun 6, 2016 22:03
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Volkerball posted:So for the credit utilization question, do I need to try and keep some balance on the credit card all the time? Volkerball posted:I saw someone mention they always kept $8 in theirs
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Jun 6, 2016 22:10
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You can set up your card to autopay the full balance on the card right after the statement date, so that you pay your phone bill, and the the card pays itself before any balances can accrue. In general as long as you pay the full balance for the statement you shouldn't accrue any interest on the charges (unless you have a particularly terrible card, maybe). You should be able to set this all up through your credit card website and it shouldn't be difficult. To answer the other question, if you are at the point where you needed to get a secured card to build credit, I doubt that you need to worry about tweaking your utilization. I think the ideal target for utilization is under 10%, so apply that math to your card limit and see where you stand - if you got a $300 limit card or something, don't worry, just use it for that single payment for a while until you can get an unsecured card which will have a higher limit. Don't try and maintain balances in your account to thread the needle on the amount, it isn't worth it and carrying a balance just means paying interest on it. Utilization is only factored using your current balances, not your historic uses, so achieving the perfect rate doesn't actually help you unless someone is pulling your credit that moment for a loan/etc. So the only reason to babysit your utilization rate is if you are doing something like buying a house in the coming month and want to avoid showing a 40% utilization rate on your card because you decided to put your vacation on there or something.
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Jun 6, 2016 22:18
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Thanks guys, that makes sense. If credit utilization history isn't looked at then yeah, I don't care at the moment. The $8 thing I actually saw in a review from some random person on the nerdwallet site. This card was one of their highest recommended for building credit and the highest without an annual fee, so I'm sure it'll be easy enough to deal with. I've got no credit (tried looking up my credit score and it literally said unavailable), and I figured the most important thing was just making sure I chose a card that I knew I would get accepted for, so I wouldn't have to apply for a bunch of them in a short period of time. That card is what I ended up with. Should suit my purposes just fine. Maybe 6 months down the road I'll look at finding another one with some nice features and a higher limit, and throw this one in a drawer somewhere.
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Jun 6, 2016 22:39
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My wife got a new job (hooray!) at county level, so government. She doesn't get a 491K, it's a 457. What the hell is this? And I'm trying to figure out if she gets a match, she gets a 7% pension, but they're very vague on the 457. Thoughts?
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Jun 7, 2016 01:52
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It's a 401k/403b for government workers, with no withdrawal penalty.
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Jun 7, 2016 02:01
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She almost certainly doesn't get a match. But on the plus side, as Kyoon Griffey Jr. said, no withdrawal penalty  May I ask who runs her 457? Mine is with ICMA and I'm pretty pleased with the ERs on their funds, but I'm curious about other 457 providers' fund options.
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Jun 7, 2016 02:17
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KYOON GRIFFEY JR posted:It's a 401k/403b for government workers, with no withdrawal penalty. pig slut lisa posted:She almost certainly doesn't get a match. But on the plus side, as Kyoon Griffey Jr. said, no withdrawal penalty The Leck fucked around with this message at 04:12 on Jun 7, 2016 |
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Jun 7, 2016 03:59
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As far as I can tell the limit difference is only advantageous in the year you switch jobs, though, and you have to have a clear line of sight to job switching to prepare.
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Jun 7, 2016 13:08
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pig slut lisa posted:She almost certainly doesn't get a match. But on the plus side, as Kyoon Griffey Jr. said, no withdrawal penalty I think it's through here: https://inradvisors.com So far they have been very slow on getting details on different benefits, so could be worse of course but getting all the info has been pulling teeth. So Right now i have a 401K through my work with match I auto contribute (to the match) to, and I have a Roth under my name that I contribute, but I don't max that out yet. We don't have anything for her, but now that she has this gig it'll change one way or the other. Any reason I should contribute to this 401K before first doing a Roth ?
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Jun 7, 2016 13:51
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Duckman2008 posted:I think it's through here: 1. 401k to match 2. Roth IRA 3. 401k to 15% 4. Depending on goals max 401k etc SiGmA_X fucked around with this message at 15:43 on Jun 7, 2016 |
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Jun 7, 2016 14:23
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SiGmA_X posted:Not unless the funds are vastly cheaper than vanguard which I see as being rare. The order: I think for #1 you meant to type "match" instead of "max"
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Jun 7, 2016 14:27
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pig slut lisa posted:I think for #1 you meant to type "match" instead of "max" I did! Oops, edited. Posting before coffee is never a good idea.
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Jun 7, 2016 15:43
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SiGmA_X posted:Not unless the funds are vastly cheaper than vanguard which I see as being rare. The order: Right, so since there doesn't seem to be a match (they do the pension instead), then Roth first. Got it.
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Jun 7, 2016 23:01
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I'm currently overthinking whether I should open a savings account with Barclays or Ally. The Barclay "Dream" account has a 1.05% APY with some tiny bonuses, though there's a monthly max deposit of 1k/month. And then it seems Ally and Barclay's normal savings accounts are 1%. I'm currently trying to save up my emergency money (goal is 3 months of expenses) and find a place to let it sit and make some decent interest. Also I wanna run my financial approach by you guys. I'm 27, have no credit card debt, but about $28k in student loan debt (all private). I used to have over $60k in student loans but instead of investing in retirement or having fun I've been chucking my money at these goddamn loans. $8.7k of that debt has an 11% interest rate. (lol I know.) $19.3k of that debt has a 6.25% interest rate. I've not had much luck when asking about the possibility of refinancing, but does anyone experience refinancing high-interest private loans? I opened a ROTH IRA last year and maxed it out. I'm planning on maxing it out again this year. My employer JUST started offering benefits (including a 401K) but doesn't match poo poo. My plan right now is to save up 5k in emergency funds (currently halfway there) then max out my ROTH IRA, theeeennnn.... try to destroy that 11% interest rate loan?  Should I be utilizing the 401K despite my employer making no contributions, and if so how much?
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Jun 8, 2016 08:18
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Crocobile posted:I've not had much luck when asking about the possibility of refinancing, but does anyone experience refinancing high-interest private loans? Refinanced 50k of 9.8% loans down to 4.5%. used Citizens Bank and needed a cosigner but if you have okay credit and income to debt ratio you might be able to refi with out a cosigner
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Jun 8, 2016 13:09
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