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Why did you wait for May?
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May 2, 2022 16:01
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Ruggan posted:Why did you wait for May? Up until yesterday we were going to buy a house this year so I kept all my cash in savings for these past few months. I've realized we're priced out of the specific area we want to live in and there are plenty of nice rentals in that neighborhood so I'm jamming all of our cash back into longer duration savings vehicles.
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May 2, 2022 16:23
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Question on said I Bonds: I put in a bit of our emergency saving (20%) April 20th , give or take. The rate in April was 7%, starts at 9% in May. When do my interest rates change ? Is it 7% for 6 months, then 9%, or does it change to 9% in May ? Either is fine with me tbh, just confused as to which one it is.
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May 2, 2022 16:26
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Duckman2008 posted:Question on said I Bonds: It's 7% for 6 months starting April 1st (you even get that extra 20-ish days if you bought later in the month). You'll get the 7% for a full six months before it goes to 9%.
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May 2, 2022 16:35
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You're on a 6 month rolling schedule from when YOU buy. You'll have the rate you bought at for 6 months. Then it'll update to the new rate for the next 6 months and so on.
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May 2, 2022 16:36
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80k posted:It's 7% for 6 months starting April 1st (you even get that extra 20-ish days if you bought later in the month). You'll get the 7% for a full six months before it goes to 9%. Cool. So I am guaranteed 7% for 6 months, then 9% for 6 months , correct ?
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May 2, 2022 16:54
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Yup. It's a pretty great deal.
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May 2, 2022 17:00
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It only looks like a great deal because most other “safe” savings methods are getting beaten by inflation right now.
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May 2, 2022 17:07
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Ruggan posted:Why did you wait for May? For me personally it was starting a new job late last year after not working at all in the first part of the year, not bothering to calculate what this was going to do to my tax/withholding situation (as the vast majority of my paychecks when into my 401(k) and HSA so I could max both out by the end of the year) and then getting a $16k tax refund and going.....oh, huh, I really stuffed that one up. So 10 of it went into I Bonds.
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May 2, 2022 17:10
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Tried to sign up for a treasury direct account and they emailed me that "We are having difficulty verifying the information you provided when opening your account" and a form to be printed, mailed, and signed by a "certifying officer" whoever the gently caress that is. Not sure I really care about getting the I-bond enough to do all that lol
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May 2, 2022 19:54
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I had no problem getting a treasury account but my wife got the same message about getting some form notarized. From what I have heard it is because I am the one that files our taxes (jointly).
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May 2, 2022 20:46
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There are many reasons the account can be flagged. Even though I'm the one that handles all our financial stuff including taxes, I had to submit the form and my wife did not, just because I opened my account too soon after moving. And, obligatory reminder that you don't need a notary, you need a medallion or signature guarantee. I had better luck at Capital One than Bank of America, but credit unions are probably the best bet.
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May 2, 2022 21:09
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My wife and I are in the same boat with TreasuryDirect with the form 5444. I called Chase and Wells Fargo. Neither will sign it. I don't have any local options besides opening new accounts with a credit union or another bank. We'll be putting the rest of the money into a brokerage account instead.
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May 2, 2022 23:30
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The stamp used for redeeming paper savings bonds is sufficient for Form 5444. Both of the bank branches I asked had one.
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May 3, 2022 01:15
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oh rly posted:My wife and I are in the same boat with TreasuryDirect with the form 5444. I called Chase and Wells Fargo. Neither will sign it. You just need a signature guarantee. It's not as difficult as a medallion if you've been asking for that. It's literally just a bank officer signing a form that you are in fact you. Though I have heard on another forum that Chase won't do this. https://thefinancebuff.com/treasurydirect-signature-guarantee-i-bonds.html
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May 3, 2022 04:35
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Yeah, there are def downsides to Treasury Direct. I initially got setup all fine, my wife’s got flagged for the documents. Tbh, getting the time and such to go to the bank and have her file, it hasn’t been worth trying yet since I’m not hitting the max yet for me anyway. I posted here a bit ago that my account later got locked. It took a long time of holding to get through, but the live person I talked to then got it unlocked in like, under 5 minutes. I’ll cross the bridge with the signed document if we ever end up needing it. Def annoying.
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May 3, 2022 12:29
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I'm sure it happened to me because I've changed addresses like three times in the past two years and put down my current residence instead of the address I file taxes from. I can't seem to find a way to go back and just try again, because they know me by my SSN now. Remains to be seen if it's worth it enough to me to get this dumb thing printed and then hunt down some bank functionary
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May 4, 2022 07:55
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Hello thread. I changed jobs recently and could use some advice on what to do with my old 401k. Short version: my investments are spread across: code:If anyone has some advice on approach or simply what I should be considering, I'm all ears. General info: I'm ~20 years away from retirement, savings are strong, the employer match and 401k total are maxed, I'm putting away ~20% of my income in pre- and post-tax 401k (with in-plan Roth conversion), plus I do the maxed backdoor Roth song & dance every year.
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May 8, 2022 03:37
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Assuming the options available in your new 401k are as good or better, I would roll the old 401k into the new. Definitely would not roll it to your IRA as it would adversely affect your future back door roths.
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May 8, 2022 04:05
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I had no problems getting my Treasury Direct form stamped at Bank of America - I didn't even have to explain it - I was halfway through my first sentence with the form out and the teller already knew what I was looking for.
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May 8, 2022 04:49
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Trabant posted:Hello thread. I changed jobs recently and could use some advice on what to do with my old 401k. You can also roll it over to a personal vanguard 401k , which would give you both full control , and you can then put it in whichever mix of index funds for expense ratios of 0.04% ish.
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May 8, 2022 12:26
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ROJO posted:I had no problems getting my Treasury Direct form stamped at Bank of America - I didn't even have to explain it - I was halfway through my first sentence with the form out and the teller already knew what I was looking for.
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May 8, 2022 18:34
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Hi folks, I'm looking for a bit of advice on what to do with my money. I have: ~$25k checking ~$25k savings account (low yield) ~$16k Roth IRA which I max out each year by $500/mo increments (VTTSX) ~$5k in VPU in a brokerage account $10k in a brand new I-bond <$500 in crypto shitcoins I bought in 2017 lol I'm a member of an entertainment union so I have healthcare and a pension (just vested after 5 years!) but I don't think I can really do anything to maximize it aside from banking hours. I have no debt aside from credit cards I pay down completely each month. I rent an apartment with my GF in Los Angeles. We would love to buy property but the market is too crazy for us. I believe there's a bubble and it will pop and maybe that will be our time to buy in but also maybe that pop will end civilization/liberal democracy as we know it. I don't really know jack poo poo about investing and I guess I picked a weird time to get my feet wet but I'm trying to figure it out. Any suggestions would be appreciated, particularly for a good HYSA or other reliable investment vehicle.
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May 9, 2022 21:29
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Sounds like you're in great shape. What you should do next depends on your age, salary, short/medium term goals (home ownership), and retirement goals (retiring at 55/62/67 etc.). Some basic stuff is I'd transfer 5-15k from checking into savings depending on what your monthly spending needs are. What is the yield on your savings account? I believe Marcus and Synchrony are yielding .6% right now so I'd switch if your current bank isn't competitive. You can look at laddering CDs or treasury bills now that rates are rising again if you want to squeeze more interest out of your EF. Does your union provide access to a 401k plan? If not others here can point you towards equivalent plans. Learn your pension plan inside and out so you can make sure you have a realistic idea of what you will earn in retirement (as well as what risks there are with the plan).
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May 9, 2022 21:58
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Duckman2008 posted:You can also roll it over to a personal vanguard 401k , which would give you both full control , and you can then put it in whichever mix of index funds for expense ratios of 0.04% ish.
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May 9, 2022 22:40
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.6% of $15k is $90. Not sure if ninety dollars is worth the hassle of having a second account. Maybe? In the face of 7-8% inflation, getting 0.6% back feels like such an insult. But banks don't need more deposits so they're not trying to be competitive in attracting them, so interest rates on savings accounts and CDs are garbo right now. Part of the reason investment property is so expensive is investors have cash and are seeking safe harbor from inflation, but the stock market is down and bond yields are still at only 3% on the 10-year, where we were at in 2018, not exactly attractive. I agree that's a very risky prospect. If your employer offers it, a high deductible insurance plan could give you access to an HSA, which is another tax-advantaged account option. If you have kids, you could opt to open a 529 plan to save for their college, that's another tax-advantaged option. Having exhausted all your tax-advantaged space, you'll need to assess your appetite for risk and your time horizon. If it's long enough, you can ignore the current state of the market and just plow money in for a decade or three and hope civilization isn't ending and the market follows the trend of the last century or so and goes up. After savings (negative real return) and bonds (better but still negative real return right now) your next-riskier option for "safe" long-term investing are index ETFs. In a taxable brokerage account you would ideally put zero-dividend, tax-efficient investments there, and keep stuff like bonds and dividend-yielding stuff, plus anything with churn (target retirement funds) in your tax-advantaged space. That's the go-to for "reliable investment vehicle" from this thread, for a certain value of reliable... it's definitely not risk-free. Bonds are less volatile than stocks and return a bit more than a savings account, and if you like, you can try california muni bonds which are both federal and state tax free. FCTFX and VCITX are examples. Note this can still absolutely lose money faster than inflation, that fund is down almost 10% in the last year. If your time horizon is shorter, you pretty much are going to lose money to inflation as you preserve your cash from the vagaries of market volatility in some variety of lovely-interest savings account or CD ladder. Find the best rate you can, but it won't even be 1% right now.
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May 9, 2022 22:48
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spf3million posted:Assuming the options available in your new 401k are as good or better, I would roll the old 401k into the new. Definitely would not roll it to your IRA as it would adversely affect your future back door roths. moana posted:There's no such thing as a personal 401k, he would be rolling it into an IRA. Which he shouldn't do due to the backdooring. Interesting! I did not consider that an IRA rollover would screw up the backdooring. The new job's 401k options are different but I think very good. There are about 10 target retirement funds, plus another 15 of other options which would let me drop the ER even further. My current investments there: BTC LPATH IDX 2050 N VAN IS S&P500 IDX TR VANG RUS 1000 GR TR VANG RUS 1000 VAL TR average just under 0.03%, so rolling over to something in the new plan looks like the way to go. Now, just to ignore the daily numbers...
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May 9, 2022 23:32
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Would you recommend Vanguard personal advisor services to older retired age parents who have some cash from real estate sale and don't know what to do with it?
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May 10, 2022 03:19
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If they only care about investing advice, and they are set on hiring a planner, then the Vanguard service is fine. Last time I checked, they cost .3% and will give decent recommendations. If they are just using it to add to their retirement pile, then they could also just replicate their current strategy and invest in the same thing. (assuming they are currently invested in a reasonable allocation)
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May 10, 2022 04:19
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ROJO posted:I had no problems getting my Treasury Direct form stamped at Bank of America - I didn't even have to explain it - I was halfway through my first sentence with the form out and the teller already knew what I was looking for. Do you have an account there? I went to two credit unions to do it today and they told me I had to be a member. Maybe at a regular bank it doesn't matter?
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May 10, 2022 08:15
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Ramrod Hotshot posted:Do you have an account there? I went to two credit unions to do it today and they told me I had to be a member. Maybe at a regular bank it doesn't matter? The form is meant to guarantee your identity, so it's unlikely that any bank or credit union would sign or stamp it without an account. Either way, my local Bank of America branches had no idea about the form and refused even with an account.
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May 10, 2022 23:40
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"Hmmm wonder how my 401K is doing" Also my company (a tiny 20 person company) doesn't match at all right now. Ugh. BonoMan fucked around with this message at 02:40 on May 11, 2022 |
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May 11, 2022 02:38
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Yeah, my retirement and long term nonretirement funds are not happy at the moment. Sucks. But I won’t need them for another…drat, like 27 years now. Uhhh I don’t like how fast time goes by, guys 
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May 11, 2022 13:30
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I'm down almost 16% YTD right now, but I'm 24 years away from retirement so I'm not worried about it. I just won't look at the 401K for the rest of the year
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May 11, 2022 15:24
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Just keep buying. Buy all the way down and all the way back up. Even when you're dead. And put the SP500 in perspective it's still higher right now than all of 2019.
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May 11, 2022 15:36
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Mu Zeta posted:And put the SP500 in perspective it's still higher right now than all of 2019. And this right here is the problem with buying into the breathless headlines about the stock market taking a dump. I'm surely down YTD also, but I'm up quite a lot over my investment horizon. Does it feel bed to see those YTD numbers? Probably. I don't nee to look because it provides me with no useful information that would change my investment strategy.
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May 11, 2022 16:08
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Is something happening with the market? Holy hell it feels so good that I actually don't even know or care I just keep automatically buying in accordance with my plan.
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May 11, 2022 16:13
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CubicalSucrose posted:Is something happening with the market? Holy hell it feels so good that I actually don't even know or care I just keep automatically buying in accordance with my plan. Not to get too political , but The Fed is raising interest rates and basically putting the economy in a recession to lower inflation and wage growth. The ins and outs of what is purposeful, not, etc , is for a different channel, but yeah it’s gonna hammer the stock market for a good bit. As said just above, just stay the course.
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May 11, 2022 17:07
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Motronic posted:And this right here is the problem with buying into the breathless headlines about the stock market taking a dump. I have a spreadsheet that I use to track each contribution I make, and then compare that to the current value. So when I look at my ROTHs, SEP-IRA, Taxable account, and kid's 529 account, I am still up overall 25% from what I initially invested. So yeah, I still have made money, and I only really started investing like 4 years ago. So is that technically 6.25% a year? Who knows. On the last day of the month I plug in all the numbers from each account to get a running total. That is the only number I care about. I'll start being concerned if that percentage gets closer to 0%. I probably shouldn't look at it monthly, but I like having the data because it keeps me in check when I'm like "oh poo poo, things are bad!" because then I can look at a graph and be like "oh, this happened before and it was fine!"
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May 11, 2022 17:13
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I just loosely pay attention to where the S&P 500 is. Pretty sure it was 2500ish when I started investing not super long ago, so 4000 is nice gains.
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May 11, 2022 17:17
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