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Smashing Link posted:Student loan law is so hosed. What subject of US law isn't?
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Dec 27, 2021 03:20
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Handy little chart I saw today that's relevant to a frequent topic of discussion here. Looks like a repeat of Black Monday would be the biggest scenario where being too heavy in domestic stocks would come back to bite you. Other than that I'm sure US stocks have consistently outperformed international stocks from 2012 to now, so that last stretch is quite a long track record.
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Dec 27, 2021 07:55
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I need to put some extra cash into the market (was going to move so had a down payment saved up). Are there any timing tips regarding the new year to be aware of? I.e. are there usually dips or bumps on or around Jan 1st or just the usual market fluctuations?
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Dec 27, 2021 14:45
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Timing the market is actually a good thing to do on Jan 3rd. That way you can take advantage of all the rubes trying and failing to time the market on Jan 1.Some Astrologer posted:On New Year’s Eve there is a brief window from approximately 1:15-3:00pm EST during which Luna in Sagittarius is besieged by malefics: applying to a partile conjunction to Mars and separating from a partile sextile to Saturn in Aquarius. Since the market is going to be besieged by malefics right before close on NYE, you want to give it a full day to shake out before getting on during the narrow window of timing while the getting is good. Happiness Commando fucked around with this message at 15:17 on Dec 27, 2021 |
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Dec 27, 2021 15:03
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Are you telling me Santa rally isn't real?
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Dec 27, 2021 22:38
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I just started a new job which has a 403b program with employee match with Transamerica. I have a 401K with my previous employer with Fidelity. What should I do with my previous 401K, let it ride?
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Dec 28, 2021 02:34
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DTaeKim posted:I just started a new job which has a 403b program with employee match with Transamerica. I have a 401K with my previous employer with Fidelity. What should I do with my previous 401K, let it ride? How are your 401k options with your previous employer? If it's with Fidelity, presumably they're pretty decent (and potentially better than Transamerica). I'd probably just let it ride knowing nothing else.
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Dec 28, 2021 03:06
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Anyone who hasn't maxed I Bonds this year would be advised to do so ASAP if they have money in anything lower yielding over the next year (such as savings accounts or bond funds in a taxable account, etc). Current rate is ~7.1%. Worst case scenario inflation goes to 0% or less during your second 6 month period and you withdraw with a 1 year return of ~3.5%. If inflation remains above average, this will almost certainly outperform almost any nominal bond fund for at least a year, and is 100% treasury. Must hold for at least a year, though.
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Dec 28, 2021 04:26
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Also if you purchase the I Bond now you'll get interest for all of December. So you're only holding it for 11 months.
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Dec 28, 2021 04:46
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What is the max investment for I-bonds?
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Dec 28, 2021 06:45
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$10k per person per year. You can get another $5k by opting to receive them for your tax refund, if you get that much of a refund.
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Dec 28, 2021 06:49
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10k/year, plus another 5k if you overpay your taxes by that amount and take the bonds as your refund.
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Dec 28, 2021 06:49
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Note that the tax return ones are paper ones, not in Treasury Direct. They are pretty cool looking although less convenient.
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Dec 28, 2021 14:59
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There's a way to convert them to electronic ones, I think.
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Dec 28, 2021 15:18
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Yes, by mailing them back in. It's just as modern as the rest of TreasuryDirect, but it can be done.
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Dec 28, 2021 15:21
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Finally got my old lovely IRA transferred over to Vanguard and just bought as much Target Date 2050 funds as I could. Thanks everyone here for the heads up. By my math, if I do nothing else this move alone saved me like $200,000 in fees and opportunity costs over the course of my lifetime.
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Dec 28, 2021 15:32
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Yearly rebalancing: complete.  Does anyone have a cool/sexy way of doing this? I've done my best to consolidate things as much as possible, but we still end up having multiple 401ks/403bs/401s/IRAs across multiple accounts at multiple providers, so I use a spreadsheet and manually enter things. 
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Dec 28, 2021 17:10
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I also use a spreadsheet.
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Dec 28, 2021 17:32
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Residency Evil posted:Yearly rebalancing: complete. The cool way to do it is to pay someone 1.5% a year to do it in a spreadsheet for you. On a more serious note, I also just use a spreadsheet but am only really balancing a single taxable account - both of my retirement accounts are just in a single target date fund. The way my spreadsheet is setup automatically pulls prices from google finance, so the only thing to do is make sure the share counts are updated and it can calculate things like where to allocate new money or how to rebalance.
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Dec 28, 2021 17:36
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Residency Evil posted:Yearly rebalancing: complete.
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Dec 28, 2021 19:21
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drk posted:The cool way to do it is to pay someone 1.5% a year to do it in a spreadsheet for you. Virgin Boglehead: Stresses out about 1.5% AUM fee, rebalances via spreadsheet, doesn't drive a Ferrari. Chad NWM Advisor: Laughs at piddly 1.5% AUM, has lots of box seats to entertain clients, drives three Ferraris. Thanks guys, spreadsheet it is.
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Dec 28, 2021 20:00
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Thanks for the reminder on I-bonds. Almost let it slip past the new year. Wonder if it'll be worth waiting until April for the next deposit.
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Dec 28, 2021 21:25
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drk posted:Anyone who hasn't maxed I Bonds this year would be advised to do so ASAP if they have money in anything lower yielding over the next year (such as savings accounts or bond funds in a taxable account, etc). When is the deadline to have it counted for this year? I’ve been trying to create an account on Treasury Direct for a while now, and Im being forced to get paperwork notarized at the bank.
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Dec 28, 2021 23:21
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Needs to be funded by the 31st. Probably too late for this year for you.
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Dec 28, 2021 23:35
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Valicious posted:When is the deadline to have it counted for this year? I’ve been trying to create an account on Treasury Direct for a while now, and Im being forced to get paperwork notarized at the bank. Yeah, too late. And you've probably seen this mentioned before, but don't get it notarized, that's not sufficient. It needs a medallion or signature guarantee.
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Dec 29, 2021 00:00
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runawayturtles posted:Yeah, too late. And you've probably seen this mentioned before, but don't get it notarized, that's not sufficient. It needs a medallion or signature guarantee. My credit union did this for me earlier this year at no charge and with very little hassle (took 5-10 minutes, no appointment needed). I have heard that some banks or branches wont do this even for their own customers, or wont know what you're asking for so you might want to call ahead.
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Dec 29, 2021 00:42
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drk posted:My credit union did this for me earlier this year at no charge and with very little hassle (took 5-10 minutes, no appointment needed). I have heard that some banks or branches wont do this even for their own customers, or wont know what you're asking for so you might want to call ahead. I can only speak to my own experience, which was that my local Bank of America branch could not provide it, so they sent me to an appointment at a different branch 45 minutes away. That branch refused to provide it on the reasoning that signature guarantees/medallions are typically for transactions of specific dollar amounts, and an account opening form has no dollar amount. Of course, other banks have no such issue and will provide it no questions asked, but I wouldn't recommend trying BoA (for this, or for most things). edit: \/ Perhaps they were bad, I can't say, but they were the branch managers of the two branches. runawayturtles fucked around with this message at 02:05 on Dec 29, 2021 |
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Dec 29, 2021 01:57
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runawayturtles posted:I can only speak to my own experience, which was that my local Bank of America branch could not provide it, so they sent me to an appointment at a different branch 45 minutes away. That branch refused to provide it on the reasoning that signature guarantees/medallions are typically for transactions of specific dollar amounts, and an account opening form has no dollar amount. I think I got a medallion done at a BofA branch years ago with no problem. It may be the issue that the employee you spoke with was some sort of moron who is not good at their job. To say medallions are common would be overstating it, but they are used for account openings and certain kinds of transactions routinely, and any bank employee responsible for processing them should know that. I find BofA no better or worse than any other huge megacorp bank, and their app is fine, so I stick with it (for checking only and maybe their free credit card if I go back to it from the Sapphire Reserve). Inner Light fucked around with this message at 02:05 on Dec 29, 2021 |
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Dec 29, 2021 02:02
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For the treasury form 5444, ask the bank to stamp it with the stamp they use for cashing paper bonds. I had 4 banks turn me away because medallion seals are for assets. You want the paper savings bond stamp.
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Dec 29, 2021 02:27
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Not a Children posted:Thanks for the reminder on I-bonds. Almost let it slip past the new year. Similar thanks. Got my 10k
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Dec 29, 2021 06:20
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Inner Light posted:I think I got a medallion done at a BofA branch years ago with no problem. I also needed one a while back and ran into the same problem, so it's not just the branch. Something about BoA and medallion signatures changed a few years ago. I looked online and couldn't find out what happened, just that they pretty much stopped doing them at all. I think the only exception is if you're a Merryl Lynch customer.
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Dec 29, 2021 13:51
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I got mine through USBank without any notarization required.
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Dec 29, 2021 14:58
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Smashing Link posted:I got mine through USBank without any notarization required. Which is good, because a notarization would be pointless.
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Dec 29, 2021 17:28
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I just created an account, entered my bank info, and was done. Walla.
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Dec 29, 2021 17:30
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Got my 10k as well. Thanks goons!
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Dec 29, 2021 18:35
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Ugh. I really want to do I-bond, but the no withdrawal allowed before 1 year thing is bothering me too much to do it. I just don't have the mass of cash I need to feel comfortable saying "there is absolutely no way I will need any of this 10k for a year".  Yes I have a separate ~6 month emergency fund with cash, but it's still bothering me. BTW is there a change that is making it more attractive to do this year vs. in January, some sort of cutoff?
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Dec 29, 2021 19:01
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Inner Light posted:Ugh. I really want to do I-bond, but the no withdrawal allowed before 1 year thing is bothering me too much to do it. I just don't have the mass of cash I need to feel comfortable saying "there is absolutely no way I will need any of this 10k for a year". The cutoff at January only matters if you need to max out the $10K limit and want another $10K for 2022. But if you are only planning to put $10K or less for now, then it doesn't matter. The 7.12% composite rate is good for several more months, and you get that rate for 6 months from the month that you put it in so you won't be missing that sweet rate.
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Dec 29, 2021 19:07
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Inner Light posted:Ugh. I really want to do I-bond, but the no withdrawal allowed before 1 year thing is bothering me too much to do it. I just don't have the mass of cash I need to feel comfortable saying "there is absolutely no way I will need any of this 10k for a year". You know there's no requirement that you put in $10K all at once, right? The minimum transaction size is $25. Put in what you feel you comfortable locking up and build it up over time? It's a journey of a thousand miles and all that. Inner Light posted:BTW is there a change that is making it more attractive to do this year vs. in January, some sort of cutoff? It's just the end-of-year limit deadline, like tax day for IRAs. You get a $10K limit for 2021, so if December 31 comes and goes you lose that space, but you get another 10k limit for 2022, etc.
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Dec 29, 2021 19:14
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Inner Light posted:BTW is there a change that is making it more attractive to do this year vs. in January, some sort of cutoff? I think I Bonds went viral on the personal finance corner of the internet over the last few months because inflation has temporarily made the rate sound amazing. If/when inflation goes back down that won't be the case any more. Historically that rate has ranged from zero to 10%. It will never be lower than inflation though so savings in I Bonds will never lose value like your savings account is right now.
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Dec 29, 2021 19:42
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| # ? Jun 6, 2024 09:24 |
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Also came up recently because they only announced the 7.12% rate on November 1. Previous six months it had been 3.54% which wasn’t too exciting given all the savings bond caveats.
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Dec 29, 2021 19:49
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