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yr new gurlfrand! posted:I meant keypass. I use it and it was a bit of work to set up but I haven’t seen anyone mention it Are you talking about KeePass, or KeyPass? KeePass is solid, but since it doesn’t have sync infrastructure, you have to set up your own. The cross-platform and mobile support is also kind of fragmented. If you’re a nerd about this stuff and either don’t mind or actively enjoy the extra work, it’s great, but if you just want a good free password manager then Bitwarden is right there. KeyPass appears to be some janky long abandoned project (get it on Tucows!) that isn’t worth using.
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May 7, 2021 18:32
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L0cke17 posted:Ok, so after doing more reading it looks like we want a traditional IRA. Fidelity and Vanguard are both good choices for this. Vanguard basically invented the idea of low cost index funds and is owned by the participants in those funds, so it's less likely to change it's business model later. Fidelity has the better website. Places like Edward Jones are built on charging management fees and selling high cost investment products. Don't go with any place like that.
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May 7, 2021 18:38
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Tricky Ed posted:Fidelity and Vanguard are both good choices for this. Vanguard basically invented the idea of low cost index funds and is owned by the participants in those funds, so it's less likely to change it's business model later. Fidelity has the better website. I wonder if Vanguard's personal investor service is any better if you have a large sum to invest.
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May 7, 2021 18:57
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Fidelity's app recently updated with night mode on by default. Now it looks more like an addictive casino app and less like people's grandparents' (ewwwww!!) investing sites. Wheee, greater emphasis on green and red everywhere! Or mostly red, in my case...
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May 7, 2021 19:40
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I'm trying to optimize my next 18-20 years, with a retirement between 53-55. I have a pension, with a 2%@62 formula. At 53, the multiplier is only 1.1% and 55 1.3%. With the years of service somewhere between 27 - 29 years. So pension anywhere from 30%-40% salary (which I understand is a big ? mark.) I have access to a 403(b), no match, currently not contributing, Fidelity instruments. I have been maxing ROTH every year, Vanguard 2045 fund. 6 months emergency savings, check. Retiring from the pension system will keep my medical benefits, free of charge. No children, ever. A self-employed spouse. Any given month, 2-2,500 is able to safely be invested/saved, probably starting to creep into 3,000. My question is how to efficiently allocate my savings to also weather the years between retirement from pension system, and access to the ROTH/403(b) if I start utilizing it (5-7 years). Also, the big gray elephant in the room is not knowing what the final pension salary will be that far in the future. I am personally shooting for 150k. Caveat, would like a house (and I understand it is not a cost effective thing), in the next 3-5 years. Hoping to have a 60k downpayment available, with assistance for an additional 60k through Landed (a profit sharing, home equity program for public employees).
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May 7, 2021 20:39
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Space Gopher posted:Are you talking about KeePass, or KeyPass? It is KeePass and I set up all the syncing and auto fills myself. Good to know there aren’t any glaring technical flaws I’ve missed
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May 7, 2021 21:32
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Can I ask about "I Bonds" here? I read that they are now at 3.5% and I'm planning to buy some at the end of May at Treasury Direct. I saw there is a "gift" option. Does that mean I can just buy $10,000 of bonds for each of my parents from my own bank account?
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May 7, 2021 22:38
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Silly Burrito posted:I wonder if Vanguard's personal investor service is any better if you have a large sum to invest. Their advisory service only gets better fee-wise if you have at least $5 million. I have no idea if you get more experienced staff at that level as well, but I would bet so.
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May 8, 2021 00:19
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Inept posted:Their advisory service only gets better fee-wise if you have at least $5 million. I have no idea if you get more experienced staff at that level as well, but I would bet so. I think you need $1M to get the service for free, not 5, but maybe there is a dedicated account manager at 5?
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May 8, 2021 01:00
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I was looking at this page https://investor.vanguard.com/advice/financial-advisor/ do they have some other service as well?
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May 8, 2021 01:15
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moana posted:You currently pay taxes on the dividends and on cap gain distributions, but if you sell anything you will be paying on the capital gains of what you sold, which could be a lot more. Can you navigate to an unrealized gains report and check the cost basis? Did some more research after this and want to make sure I know what I'm prepping for: Have 200k in VASGX mutual funds, 70k long term unrealized gains, 3k short term. If I were to transfer to a less aggressive mutual fund, I would be paying capital gains tax on the 3k as normal income, and tax on the 70k as some other calculated capital gains tax? Is account last in first out or is there some method to only transfer the contributions? I'm interested in shifting to a less aggressive investment, buy I'm not sure if I'm interested enough to take on the tax bill assuming I understand correctly. Edit: just realized this might be a better question for the tax thread... PageMaster fucked around with this message at 02:42 on May 8, 2021 |
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May 8, 2021 01:49
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Motronic posted:I think you need $1M to get the service for free, not 5, but maybe there is a dedicated account manager at 5? Looks like these are the rates: Annual fee schedule FEE MANAGED ASSETS 0.30% Up to $5 million 0.20% Above $5 million and up to $10 million 0.10% Above $10 million and up to $25 million 0.05% Above $25 million
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May 8, 2021 02:23
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Oh sorry...."for free" was totally not what I remembered. Yeah....they have their drag but I was remembering you didn't count until $1m I think. FYI, their recommendations are not impressive at that lowly level in my experience.
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May 8, 2021 02:56
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Silly Burrito posted:Looks like these are the rates: $12,500 per year to manage $25M sounds like a pretty decent deal tbh. It would be hilarious if they just place that son of a bitch in a standard 3-fund.
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May 8, 2021 03:14
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Inner Light posted:$12,500 per year to manage $25M sounds like a pretty decent deal tbh. It would be hilarious if they just place that son of a bitch in a standard 3-fund. Well wouldn't you want the best performance if you're paying for it?!
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May 8, 2021 03:25
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Inner Light posted:$12,500 per year to manage $25M sounds like a pretty decent deal tbh. It would be hilarious if they just place that son of a bitch in a standard 3-fund. They don't. At least at the lower levels. It's an insane mix of funds that makes no sense and then adds up to a mix of VTSAX VTIAX and VBTLX that could be achieved with just those three. Remebmeber......investing of any kind needs to be and sound complicated, even long term investing. They were not able to explain to me why they didn't just suggest a portion of those three. Even when when what they suggested came out to a similar portion of those three. I don't get it. Maybe I'm just a rube. Motronic fucked around with this message at 03:41 on May 8, 2021 |
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May 8, 2021 03:38
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Sounds like trying to justify their job by using an overcomplicated system to come to a very similar result as a 3-fund portfolio to me.
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May 8, 2021 04:30
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PageMaster posted:Did some more research after this and want to make sure I know what I'm prepping for:
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May 8, 2021 05:17
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Maybe I’m too nice, but personal capital has called me three times in the past three-four months. I’ve told them “I don’t invest in anything with an AUM.” Yesterday they offered me 6 months free. Still said no. Not sure what else I can tell them. On the vanguard investment topic, i think they also have simple advisory services with CFPs, right? You don’t necessarily have to pay them an AUM? Has anyone used them? Residency Evil fucked around with this message at 12:13 on May 8, 2021 |
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May 8, 2021 11:46
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Residency Evil posted:Not sure what else I can tell them. "gently caress off" would be a good start, I think 
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May 8, 2021 12:51
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Residency Evil posted:Maybe I’m too nice, but personal capital has called me three times in the past three-four months. I’ve told them “I don’t invest in anything with an AUM.” Yesterday they offered me 6 months free. Still said no. Not sure what else I can tell them. "Please add me to your do not call list"
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May 8, 2021 12:58
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Told them I will never be interested and that I'm drooping their service if they call again, seems to have worked. Only have to click past an ad on the website occasionally. Regarding the overly complicated fund mix advisors use/recommend, part of it is definitely trying to make it sound complicated to make you think you can't do it on your own. But the other part is they often genuinely think that if they make your allocation exactly to certain specifications that you'll outperform the standard 3 fund approach. They're obviously wrong, but it's not completely malicious I guess.
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May 8, 2021 13:23
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So there’s always talk of right fund mix and such. I just noticed that Vanguard has a fund (just started in 2019) that is basically a combo of VTSAX (total US index) and VTIAX(total International index). VTWAX. I’m not one to say people should go 100% in one fund, but this seems fairly balanced (if you feel 60% North America is balanced) with the exception of stocks only, no bonds. 9,230 stocks in the fund. Am I missing anything ?
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May 8, 2021 13:40
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You also do not matter to personal capital until you 100k in assets. Learned that one recently.
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May 8, 2021 13:43
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Tricky Ed posted:Fidelity and Vanguard are both good choices for this. Vanguard basically invented the idea of low cost index funds and is owned by the participants in those funds, so it's less likely to change it's business model later. Fidelity has the better website. I was thinking of opening an IRA with SoFi because they have free financial advisors. Is the quality of that service better than asking here? (I also did grad school loans through SoFi 8 years ago, and they were good to work with for that process)
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May 8, 2021 13:45
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Chu020 posted:Regarding the overly complicated fund mix advisors use/recommend, part of it is definitely trying to make it sound complicated to make you think you can't do it on your own. But the other part is they often genuinely think that if they make your allocation exactly to certain specifications that you'll outperform the standard 3 fund approach. They're obviously wrong, but it's not completely malicious I guess. I think the only potential reason for it is to allow for easier tax loss harvesting. If you hold VTSAX and oil drops but tech is skyrocketing you are still positive. If you hold a tech ETF and and oil ETF you could loss harvest the oil ETF. Is that worth the fee? Hard to say but probably more complicated than someone with a regular 9-5 wants to get on their own.
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May 9, 2021 01:21
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My employer offers a 457 plan which can be both pre-tax and Roth. I'm trying to figure out if I should split my contributions between pre-tax and Roth. Currently I'm only putting money in pre-tax. I MFS so I can't contribute to a Roth IRA, though I did start one before I got married so I have some funds in there. My employer also offers a defined benefit pension (if it stays solvent), so this wouldn't be the only source of retirement income, but if I understand correctly, this also means my retirement income might be high since pension payments would count as income, so I'm thinking the Roth 457 is a good idea. My spouse also contributes to their employer retirement plan. I have about 30 years to go until retirement.
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May 9, 2021 14:39
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The Slack Lagoon posted:My employer offers a 457 plan which can be both pre-tax and Roth. I'm trying to figure out if I should split my contributions between pre-tax and Roth. Currently I'm only putting money in pre-tax. I MFS so I can't contribute to a Roth IRA, though I did start one before I got married so I have some funds in there. My employer also offers a defined benefit pension (if it stays solvent), so this wouldn't be the only source of retirement income, but if I understand correctly, this also means my retirement income might be high since pension payments would count as income, so I'm thinking the Roth 457 is a good idea. My spouse also contributes to their employer retirement plan. I have about 30 years to go until retirement. You can always contribute to an IRA, and if you're over the income limit to directly contribute to a Roth IRA, you can make a non-tax-deductible contribution to a traditional IRA and convert it to Roth (the "backdoor Roth" approach). This is extremely easy and totally legal, Vanguard literally has a button to do it in one click.
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May 9, 2021 14:55
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I manually contributed a couple thousand of savings to my 2020 IRA, but when I try to get tax paperwork out it Fidelity for it they say they got nothing for me for tax paperwork for that year. Doesn’t contributing lower your taxes a bit, or is that if you only do it pre-tax through work (which I am also doing).
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May 9, 2021 18:45
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Was it Traditional or Roth IRA contribution?
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May 9, 2021 19:00
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quote:1) Contribute to 401(k) up to employer match. Always get the free money! I've got a question about #3, taken from the OP (for whatever it's still worth in TYOOL 2021). I don't spend much and historically have chosen to just not think about money other than maxing my IRA every year. As a result, I've got too much cash sitting around. So is the next thing I should do max out my 401(k) to $19k (I am already above the employer match)? I guess that means that my take home pay will go below my monthly expenses. But I have cash so that's not a problem? And this is better than just buying index funds with the cash? Oh yeah, also - my 401k has a "Roth" and a "Traditional" option. If I should in fact max it out, what should be my mix here? My idea is to put enough in the Trad option to reduce my taxable income until I'm out of the 22% bracket. And then the rest in Roth. Any help appreciated, thanks.
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May 9, 2021 19:37
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Nothing wrong with drawing down some cash to pay monthly expenses while you max out your tax advantaged space. As long as your emergency fund is sufficient. Most people max out the Roth IRA and then use the traditional version of their 401k. This is because we don't know what future tax rates will be so it might be smart to have some money in traditional and some in Roth.
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May 9, 2021 19:41
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spf3million posted:Nothing wrong with drawing down some cash to pay monthly expenses while you max out your tax advantaged space. As long as your emergency fund is sufficient. Is there another reason I should have traditional for my 401k? If I do max it out that's 19k for trad and 6k for roth (ira)
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May 9, 2021 20:25
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Ramrod Hotshot posted:My idea is to put enough in the Trad option to reduce my taxable income until I'm out of the 22% bracket. And then the rest in Roth. This is  language that indicates you don't understand how marginal tax brackets work. Only the income above the threshold for 22% is taxed as the 22% rate. Everything below it is taxed in its own bracket's rate. Here's an example from the Bogleheads wiki which hopefully clears that up:https://www.bogleheads.org/wiki/Marginal_tax_rate#Example Bogleheads Wiki > Marginal Tax Rate > Calculations > Example posted:A single taxpayer earns $75,000 gross income. After taking the federal standard deduction of $12,200 and deducting another $10,000 contribution to a 401(k), their taxable income is $52,800, putting them in the 22% federal tax bracket. Assuming no phase-outs, their marginal tax rate is 22%, meaning each additional dollar earned results in an additional 22 cents of federal income tax. The total federal income tax due for this individual is $7,474.50 ($970 in the 10% bracket, $3,573 in the 12% bracket, and $2,931.50 in the 22% bracket; see: Tax bracket), for an "average" tax rate of only 9.966% relative to gross income. So as you can see, that person is only paying on average ~10% tax rate per dollar of income at the moment. However, any additional income made on top of that will be taxed at the marginal rate of 22%, until that bucket is "full" and you start taxing new dollars in the next higher bracket. So putting an amount of money away until you hit back down below the 22% marginal rate doesn't help you as much as you think it does.
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May 9, 2021 20:31
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SpelledBackwards posted:Was it Traditional or Roth IRA contribution? Traditional. I'm guessing since I put post-tax money (my savings) into the IRA it doesn't mean squat on my taxes.
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May 9, 2021 21:04
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Ramrod Hotshot posted:Is there another reason I should have traditional for my 401k? If I do max it out that's 19k for trad and 6k for roth (ira)
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May 9, 2021 21:08
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jeeves posted:Traditional. IRAs are not employer-provided retirement benefits (the "I" stands for Individual). Fidelity doesn't care where the money comes from, and I don't think they can assume whether your contribution was tax-deductible or not because you can make contributions to multiple accounts. In the most basic terms (excluding backdoor contributions), the limits apply across all traditional AND Roth IRA contributions made. The deductible portion, if any, is calculated in Schedule I for Form 1040 (Part II, line 19: "IRA deduction") and goes into e.g. Form 1040's line 10a: "Adjustments to income: / From Schedule 1, line 22 ". But if you were covered by retirement plans at work, you may not be able to deduct contributions in full or at all. See more info here: https://www.irs.gov/instructions/i1040gi#idm140260161721920
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May 9, 2021 21:16
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With the impeding crash/correction coming at some point. What would a safe stock/ETF to dump my stuff into to try to time this?
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May 9, 2021 21:35
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Don't time the market
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May 9, 2021 21:42
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I'm about to come into some cash and wanted to invest it all in some long term All-World (MSCI or FT) ETF. The rational side of my brain still thinks that you can't predict the market and therefore just throwing it in is the best option. But I've been second-guessing myself lately because I hear everyone (i.e. the supermarket cashier) talking about completely insane wild-west investments in day-trading, TSLA, NTF's or bitcoins. What might be the effects on the overall stock-market if any of those speculative bubbles would pop? Would it even have a significant impact for a broad based index (TSLA comprises ~1% of the index atm)? Are there any easy ways / is it smart to specifically hedge against risks coming from these sources? edit: spf3million posted:Don't time the market That might already answer it.
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May 9, 2021 21:42
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