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Note that "deciding what to do with it" means actual uses for money, which then help you determine what type of investments you ought to park the money in.
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Apr 8, 2024 14:51
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Antillie posted:From what I have heard Vanguard's web site isn't as user friendly as Fidelity's or Schwab's. I've got both and I consider them pretty similar. There's some things that are respectively nicer about each site, though if I had to pick one as being more user friendly, it would actually be Vanguard. Vanguard has less products and therefore the website is a bit simpler. Fidelity has like, several different ways to buy Bitcoin (among other nonsense you shouldn't buy), which clutters up the interface. I would give Fidelity a slight edge for traders/advanced users though.
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Apr 9, 2024 02:05
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I had to google how to transfer money out of a vanguard account. It's not the most user friendly experience.
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Apr 9, 2024 02:59
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Subvisual Haze posted:I had to google how to transfer money out of a vanguard account. It's not the most user friendly experience. Hmm, seems easy enough to me? Login, click the account, click transfer money, click send me money. Honestly I've got a couple credit cards that are harder to pay than that. No comment on mobile tho if you are a phone investor, might be different.
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Apr 9, 2024 03:30
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On mobile there's a large "transact" button that lets you buy/sell or move money to and from your bank account. It's even easier IMO.
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Apr 9, 2024 05:06
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Ha, yep, had to do a quick sanity check and it's just a handful of clicks/taps. So long, at least, as you've got the initial account link config out of the way. Now I'm curious what the cited friction is.
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Apr 9, 2024 05:15
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It's not hard when you know how to do it, it's just less intuitive/more clicks compared to other brokerages. Fido's transfer button for comparison is front and center at the main page. My issue was more to do with Vanguard MMF liquidation and settlement times before cash could be moved out. Because my cash was in VUSXX VUSXX needed a sell order entered, wait for market close for the sell order to process, wait another day or two for the cash to settle into core, then finally the cash could be transferred out to external bank. In contrast SPAXX or whatever at Fido is treated as basically cash equivlent and can be transferred to my linked external bank same day.
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Apr 9, 2024 05:28
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Anyone have general pointers/reading/webpage advice on how people living abroad can manage their money in America? My sister's really struggling with it while also being very obstinate about wanting to use a small bank. Even stuff right now like a CD in her name is maturing and the bank seems clueless on how to handle this when she isn't coming back stateside for a few years. I don't want to handle this for her.
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Apr 9, 2024 16:36
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Antillie posted:From what I have heard Vanguard's web site isn't as user friendly as Fidelity's or Schwab's. My issue with Vanguard is mainly around phone usage. Like the iPhone app doesn’t support everything that the website does, and then the website also doesn’t have mobile views for everything. For instance you can’t use the app for selling by Spec ID. Which is basically all my selling.
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Apr 9, 2024 16:42
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trevorreznik posted:Anyone have general pointers/reading/webpage advice on how people living abroad can manage their money in America? My sister's really struggling with it while also being very obstinate about wanting to use a small bank. You might want to look at this stuff here: https://www.bogleheads.org/wiki/Outline_of_non-US_domiciles If she is a US citizen, but not a US resident, its going to be tricky to invest in the US. It also may be tricky to invest in whatever other country she is a resident of, since foreign financial institutions have to be FATCA compliant for accounts held by US citizens (regardless of if they are US residents). Taxes should also be fun. She may or may not owe US taxes, but definitely will have to file a bunch of stuff that US residents do not.
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Apr 9, 2024 17:31
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smackfu posted:My issue with Vanguard is mainly around phone usage. Like the iPhone app doesn’t support everything that the website does, and then the website also doesn’t have mobile views for everything. I'm a millenial, all major things like paying large bills, making investments, selling assets, buying flights, etc must be done on a Large Screen. I think the only thing I do with my Schwab app is 2FA.
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Apr 9, 2024 18:43
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KYOON GRIFFEY JR posted:I'm a millenial, all major things like paying large bills, making investments, selling assets, buying flights, etc must be done on a Large Screen. I think the only thing I do with my Schwab app is 2FA. I don't know if it's because I'm a millennial or because I have large thumbs but I'm the same way
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Apr 9, 2024 18:54
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As a gen Xer I can't quite get over the hump of considering my mobile device reliable and secure enough to do real banking poo poo on it. Like I have my bank's app on there solely to do mobile check deposit because it's easier to take a photo of the check with the phone vs. my computer, and I have venmo on there because it's how the guy who cuts my hair wants to be paid, but I feel weird every time I stand there in public looking at my financial info and wondering what happens if someone steals my phone. My big screen desktop computer has my spreadsheets and poo poo on it anyway. That's where Serious Business gets done. I'm turning 50 next year. The boomers are dying off and in 20 years my generation will be the useless old fucks who refuse to get with the modern day poo poo.
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Apr 9, 2024 18:57
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Leperflesh posted:As a gen Xer I can't quite get over the hump of considering my mobile device reliable and secure enough to do real banking poo poo on it. Like I have my bank's app on there solely to do mobile check deposit because it's easier to take a photo of the check with the phone vs. my computer, and I have venmo on there because it's how the guy who cuts my hair wants to be paid, but I feel weird every time I stand there in public looking at my financial info and wondering what happens if someone steals my phone. Yeah, this is my position. I'm terrified of keeping a brokerage app on my phone because I'm afraid I'll go out and lose it and someone else will find it. I mean, Fidelity probably has measures in place so someone can't liquidate all my assets and request a check mailed to them, but that doesn't stop me from worrying.
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Apr 9, 2024 21:54
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I'm not even worried about mobile security, I just prefer to do all my personal and household business on a real computer because it's a lot easier to look at everything on a big screen with multiple tabs and can better multitask or side-by-side things. It's never something I need or want to do "on the go". If that makes me old, welp
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Apr 9, 2024 22:19
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Guinness posted:I'm not even worried about mobile security, I just prefer to do all my personal and household business on a real computer because it's a lot easier to look at everything on a big screen with multiple tabs and can better multitask or side-by-side things. It's never something I need or want to do "on the go". yeah i've never had like an URGENT NEED to liquidate a brokerage position (probably because i am boring)
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Apr 9, 2024 22:30
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I too am a millennial who prefers to do most "important things" via a real computer. I funded our backdoor Roths from the john this year though, so that was nice.
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Apr 9, 2024 23:00
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It looks like there was a study on investing behavior differences between users using smartphones and PCs to invest. The study was done using data from 15,000 German investors. Reuslts are pretty much what you'd expect. Here's a few from early in the paper: quote:Comparing trades by the same investor in the same year-month, we find that the probability of purchasing risky assets increases in smartphone trades compared to non-smartphone ones. Analogously, smartphone trades involve assets with higher volatility and more positive skewness. quote:We find that smartphones increase the probability of buying assets in the top decile of the past performance distribution. quote:Following the launch of smartphone apps, investors are—if anything—more likely to purchase risky and lottery-type assets and to chase hot investments also on non-smartphone platforms. While inconsistent with substitution effects, this evidence potentially suggests that investors are learning to become overall more biased after their initial use of smartphones to trade.
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Apr 9, 2024 23:38
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If you want a nice edge case, my wife’s work requires us to pre-authorize any trades, and those auths are only good for the day, and the compliance person can get around to it whenever, so I have found myself scrambling to put in an order on Vanguard’s app while on the bus at 4pm.
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Apr 9, 2024 23:45
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So I haven't been able to fund my IRAs for a while because my AGI is too high so I've been doing the rolling T-Bills in my normal individual account... Despite the tax I eat from it, I assume everything is going to get taxed accordingly outside of money/stocks/bonds you put into tax-advantaged accounts so its better than having it do nothing, right?
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Apr 9, 2024 23:50
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T-bills currently earn 1 or 2% real, so its not the worst thing to invest in at the moment. Of course, that is not always the case. Are you using T-bills in addition to to more traditional long term investments (stocks, bonds, etc) in your taxable account? If not, why not?
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Apr 9, 2024 23:53
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Yes I have stocks that I have money in for the long term investment. The T-Bills are because I'm planning to buy a condo/house in a few months so I just need somewhere short term to put money in while I wait. I have an HYSA that I use since it allows me to pull funds out relatively fast. Once I get more serious with my search I'll end the rollovers.
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Apr 9, 2024 23:59
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Strong Sauce posted:So I haven't been able to fund my IRAs for a while because my AGI is too high so I've been doing the rolling T-Bills in my normal individual account... You can do a backdoor Roth IRA at any AGI though. You could also just buy equities in that account, you'll only pay taxes when you sell (and on any dividends).
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Apr 9, 2024 23:59
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Strong Sauce posted:So I haven't been able to fund my IRAs for a while because my AGI is too high so I've been doing the rolling T-Bills in my normal individual account... there is no AGI limit for making non-deductible contributions to traditional IRAs, and depending on your other accounts you may be able to immediately convert that entire contribution into a roth IRA via the “backdoor” roth.
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Apr 9, 2024 23:59
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Residency Evil posted:I funded our backdoor Roths from the john this year though, so that was nice. How did you earn $6500 from the john??
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Apr 10, 2024 02:22
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Serious_Cyclone posted:How did you earn $6500 from the john?? Sex work can be pretty lucrative at the upper end.
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Apr 10, 2024 02:31
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Strong Sauce posted:Once I get more serious with my search I'll end the rollovers. Why? Treasuries are highly liquid, you can sell them whenever for a fair market price based on current yields. You have some interest rate risk, but rates are very unlikely to be going up in the near term.
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Apr 10, 2024 02:35
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pmchem posted:there is no AGI limit for making non-deductible contributions to traditional IRAs, and depending on your other accounts you may be able to immediately convert that entire contribution into a roth IRA via the “backdoor” roth. Doesn’t mixing tax advantaged/non tax advantaged money make things more complicated in some cases? For example for a back door Roth.
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Apr 10, 2024 02:59
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Awkward Davies posted:Doesn’t mixing tax advantaged/non tax advantaged money make things more complicated in some cases? For example for a back door Roth. I'm not sure exactly how to interpret your question. in my example it's going from IRA to IRA, both are tax-advantaged. here's a primer on it from 2023: https://www.schwab.com/learn/story/backdoor-roth-is-it-right-you
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Apr 10, 2024 03:11
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Residency Evil posted:I too am a millennial who prefers to do most "important things" via a real computer. Triple backdoor action, nice!
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Apr 10, 2024 03:18
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Serious_Cyclone posted:How did you earn $6500 from the john?? raminasi posted:Sex work can be pretty lucrative at the upper end. TITTIEKISSER69 posted:Triple backdoor action, nice! Sometimes life doesn't turn out the way you think it would.
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Apr 10, 2024 03:22
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I can't share this without increasing my doxxing risk but I'm making the bad decision: My fiancee's last name is actually Roth and she giggles every time someone talks about a backdoor Roth, let alone the megabackdoor Roth.
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Apr 10, 2024 03:29
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Everybody knows good ol’ “Backdoor” Roth.
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Apr 10, 2024 03:41
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Does she have a brother named Ira?
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Apr 10, 2024 03:56
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pmchem posted:I'm not sure exactly how to interpret your question. in my example it's going from IRA to IRA, both are tax-advantaged. here's a primer on it from 2023: Yeah now I’m having trouble remembering my experience with this. The issue is I’m talking about is with mixing deductible and non deductible funds in the same IRA. You have to file a special tax form and keep track of it, or risk paying double tax down the road.
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Apr 10, 2024 05:26
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Awkward Davies posted:Yeah now I’m having trouble remembering my experience with this. The issue is I’m talking about is with mixing deductible and non deductible funds in the same IRA. You have to file a special tax form and keep track of it, or risk paying double tax down the road.
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Apr 10, 2024 15:22
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New I bond variable rate is in for May-Nov at 2.96%. Tipswatch is estimating the fixed rate will remain similar at 1.2-1.3%, for a composite rate of 4.17-4.27% for new I bonds starting in May. So, for people on the fence about buying this month vs next, it looks like it would be best to buy this month to lock in the current 5.27% composite rate for 6 months.
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Apr 10, 2024 17:09
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Looking for some opinions on 401k investment options. I have an employer sponsored 401k through Voya. I have up to now (coming up on 2 years) been putting everything into a T. Rowe Price Target Date 2050 fund. Doing some digging, I found that there is a collection of Vanguard funds that are also available, and grabbed some expense ratio data for a cross-section of them to compare with the TD Fund. My current allocation is 100% T. Rowe Price Retirement 2050 (TRJLX) with a very explicitly reported total annual operating expense of 0.45% The Vanguard options each have a more complicated presentation of expense ratio. There is a "Net Prospectus Expense Ratio" as well as a "Management Fee" and a "Miscellaneous Fee(s)", but the combination of the latter two fees always equal the Net Prospectus Expense Ratio, so I'm assuming that the Net Prospectus Expense Ratio is the total. If these fees stack, then the total is twice the reported Net Prospectus Expense Ratio. Options are: Vanguard Small-Cap Index Fund Admiral Shares (VSMAX), ER 0.05% Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX), ER 0.07% Vanguard Value Index Fund Admiral Shares (VVIAX), ER 0.05% Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX), ER 0.10% Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX), ER 0.13% I am considering dropping TRJLX and pursuing a self-managed combination of the Vanguard index/security/corporate fund options. It seems like I would save a significant portion of the expense ratio costs this way, but I lose the autopilot management of the funds in the process. I'm curious if the hassle-factor of managing my own investments with the Vanguard funds is worth it for the reduced expense. For reference, I contribute roughly the federal maximum to my 401k, which comprises the vast majority of my retirement investments. Any suggestions on how to build a quasi TD Fund from these Vanguard options and if the TRJLX cost at 0.45% is worth the trouble is appreciated.
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Apr 10, 2024 18:14
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In my opinion, none of those Vanguard funds is suitable as a core position. No US large cap, no international, no nominal investment grade bonds. edit: the TIPS fund is probably fine for bonds, but the lack of large cap US (or SP500) is the biggest problem. For most US investors, that is going to be the largest portion of their retirement funds.
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Apr 10, 2024 18:26
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There's nothing particularly special about Vanguard funds per se, so there's no need to restrict yourself to those. OP should post all of the available funds and ERs in the portfolio. I find it hard to believe that a decent-ish 401(k) (based on inclusion of the funds the OP did post) doesn't have a S&P 500 tracker.
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Apr 10, 2024 18:37
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