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What's your age and the value of your 401k?

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I see a business opportunity here. I'd gladly pay someone 1% to shuffle my cash around while I take 9%. 

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8 minutes ago, KCitons said:

I see a business opportunity here. I'd gladly pay someone 1% to shuffle my cash around while I take 9%. 

Sure.  Just give random internet stranger access to your accounts containing at least (apparently) $200k.  No worries.

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21 minutes ago, Bob Sacamano said:

Sure.  Just give random internet stranger access to your accounts containing at least (apparently) $200k.  No worries.

I wasn't implying internet stranger. Mint, Personal Capital, etc have my account info for a lot more than $200k. I said business opportunity. 

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Just now, KCitons said:

I wasn't implying internet stranger. Mint, Personal Capital, etc have my account info for a lot more than $200k. I said business opportunity. 

Ignore my PM, then.

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5 minutes ago, Bob Sacamano said:

Ignore my PM, then.

Too late. Account numbers and Financial Power of Attorney sent. 

When can I expect my $18-20k?

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1 minute ago, KCitons said:

Too late. Account numbers and Financial Power of Attorney sent. 

When can I expect my $18-20k?

It seems to have been frozen by a bank, and I need another $5k to free the funds.

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Just now, Bob Sacamano said:

It seems to have been frozen by a bank, and I need another $5k to free the funds.

Signed,

Mboku (Nigerian Prince)

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1 minute ago, Bob Sacamano said:

It seems to have been frozen by a bank, and I need another $5k to free the funds.

First, I need proof you are a Nigerian Prince.

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Just now, gianmarco said:

Signed,

Mboku (Nigerian Prince)

Beat me to it.:lmao:

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32 minutes ago, NutterButter said:

Especially considering no risk

Sounds more like a part time job than an investment. 

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10 minutes ago, thecatch said:

Sounds more like a part time job than an investment. 

Definitely a little more work, but if you have a few hours to kill during the week while at work, might as well make a few grand doing it.   

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1 hour ago, NutterButter said:

Definitely a little more work, but if you have a few hours to kill during the week while at work, might as well make a few grand doing it.   

These posts aren’t going to write themselves fella.

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22 minutes ago, AAABatteries said:

These posts aren’t going to write themselves fella.

You can start outsourcing some of that work with all the money that culdeus has made for you.

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5 minutes ago, NutterButter said:

You can start outsourcing some of that work with all the money that culdeus has made for you.

I’m in if someone can guarantee me to maintain or raise my likes-to-posts ratio.  

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2 hours ago, NutterButter said:

Definitely a little more work, but if you have a few hours to kill during the week while at work, might as well make a few grand doing it.   

Could pretty much do this on the ####ter instead of surfing FBG or crushing candy

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2 hours ago, thecatch said:

Sounds more like a part time job than an investment. 

If I could count on this, I could retire and this would pay my mortgage.

 

Has anyone tried NetSpend?

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6 hours ago, Random said:

This is awesome.  I'm in.  The x2s mean you and the wife?

Just opened the Citi one.  Selected interest checking (had the option between interest or no interest).  Does it matter how you allocate the 15 between the checking and savings?  I did 10 and 5.

Always read doctorofcredit for any bonus you are seeking.  He will spell out how it goes.  For Citi you need 15 in savings and 0 in checking. 

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7 hours ago, culdeus said:

.  For Citi you need 15 in savings and 0 in checking. 

Am I missing something?

"Within 30 days of opening your account, deposit $15,000 in New-to-Citibank funds between the new checking and savings accounts.

Maintain a minimum balance of $15,000 between the checking and savings accounts for 60 consecutive calendar days."

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1 hour ago, -OZ- said:

Am I missing something?

"Within 30 days of opening your account, deposit $15,000 in New-to-Citibank funds between the new checking and savings accounts.

Maintain a minimum balance of $15,000 between the checking and savings accounts for 60 consecutive calendar days."

I wouldn't chance it.  I've gotten this 5 and a half times and always went 15 to savings.   In the distant past also needed 1500 in checking to keep it fee free.   When in doubt always check doctor of credit.   

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10 hours ago, culdeus said:

Always read doctorofcredit for any bonus you are seeking.  He will spell out how it goes.  For Citi you need 15 in savings and 0 in checking. 

It would not even let me open this with a 0 in checking.  Found this link for the bonus, and I dont see where it says that (maybe it has changed?)

https://www.doctorofcredit.com/citi-400-600-personal-checking-savings-bonus-available-nationwide-direct-deposit-not-required/

Do you think 10/5 split is good?  I really dont want to screw up my first attempt.  

 

DOC states 

"Earn $400 when you open a new checking and savings account in the Citi Account Package and complete the following requirements:

Within 30 days of opening your account deposit $15,000 new-to-Citibank funds into the checking or savings account. Both checking & savings accounts need a non zero balance."

Possible this info is outdated?

Edited by Random

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12 hours ago, culdeus said:

Always read doctorofcredit for any bonus you are seeking.  He will spell out how it goes.  For Citi you need 15 in savings and 0 in checking. 

i thought you started a thread about all of this stuff once.

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2 hours ago, Long Ball Larry said:

i thought you started a thread about all of this stuff once.

We discussed this in the credit card points thread alot then interest dies down.  I mean it's alot of work to stay on top of all of it. 

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very interesting.  does opening all these accounts take a hit on your credit score?

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1 hour ago, Tiger Fan said:

very interesting.  does opening all these accounts take a hit on your credit score?

Not since the last time we answered this ;)

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On 11/14/2019 at 5:06 PM, gianmarco said:

Bank accounts don't require credit pulls so it should do nothing to your FICO score.  That site actually confirms if there's a pull or not.  So as long as there isn't a hard pull, you're fine.

:thumbup:

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I just found out catch-up contributions are a thing, and that I'm eligible having recently turned 50. I'm close to having maxed my 2019 contributions and would like to throw that additional $6K in down the stretch. I just went in to the Fidelity site where I manage contribution amounts and made put in a contribution % in the catch-up. My question is whether that additional catch-up piece will start being deducted immediately or does it wait until I've maxed on the regular contribution to do so?

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9 hours ago, Nigel said:

I just found out catch-up contributions are a thing, and that I'm eligible having recently turned 50. I'm close to having maxed my 2019 contributions and would like to throw that additional $6K in down the stretch. I just went in to the Fidelity site where I manage contribution amounts and made put in a contribution % in the catch-up. My question is whether that additional catch-up piece will start being deducted immediately or does it wait until I've maxed on the regular contribution to do so?

Pretty sure you gotta max out the regular contribution first.

But just pretty sure, not certain.

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Elective deferrals are not treated as catch-up contributions until they exceed the limit of $19,500 in 2020 ($19,000 in 2019) or the ADP test limit of section 401(k)(3) or the plan limit (if any).

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6 hours ago, kutta said:

Pretty sure you gotta max out the regular contribution first.

But just pretty sure, not certain.

I'd assume you just set your % high enough that it stops at the end of the year at $25,000 instead of $19,000. I don't think it works any differently than every other year just that it won't stop at the normal max.

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28 minutes ago, stbugs said:

I'd assume you just set your % high enough that it stops at the end of the year at $25,000 instead of $19,000. I don't think it works any differently than every other year just that it won't stop at the normal max.

I thought I read somewhere that you can put in more than the max, but any excess that goes in will be taxed going in, and also taxed coming out.  Obviously not ideal.

So if you want the company match all year, dont max it out at the beginning of the year.

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There are two distinct boxes on the input page, one to enter a % for regular contributions (up to 19K) and another for catch-up %, if eligible (up to 6K). YTD I've put in about 17.5K in regular contributions. I'm pretty sure that in the absence of putting anything in the catch-up % field my contributions will just stop when I hit 19K. I'm trying to figure out what the right % is for me to hit the additional 6K, which depends on whether it starts taking it now that I elected it, or if it waits until the 19K threshold is met. I think its the latter.

And @ghostguy123 makes a good point that I did not pay attention to in my early years, left a lot of company-match money on the table by maxing out way too early in the year. Even this year I'll be about three paychecks too quick with it.

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With the above....is it bad to max out the 19k too early?

Say I get a 20k bonus in February.  Is it worthwhile to put it all into my 401k and be done with contributions for the year?

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1 minute ago, comfortably numb said:

With the above....is it bad to max out the 19k too early?

Say I get a 20k bonus in February.  Is it worthwhile to put it all into my 401k and be done with contributions for the year?

Yes.  Company match usually stops in that case.  

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7 minutes ago, culdeus said:

Yes.  Company match usually stops in that case.  

Company match does stop but my company will make an additional matching contribution early the following year to make me whole for their matching obligation. YMMV

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20 minutes ago, Ted Lange as your Bartender said:

Company match does stop but my company will make an additional matching contribution early the following year to make me whole for their matching obligation. YMMV

Cool

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15 minutes ago, culdeus said:

Yes.  Company match usually stops in that case.  

Mine is a bit weird in that respect. They match 50% up to $3k, but it’s the entire deferral. That means that if you are set to say 14%, the match is 7% until you hit $3k so if your match is high you are exhausting it pretty early in the year even if you aren’t making FBG money.

It does mean that if I want to leave the company, I’d do it in May after the yearly bonus is paid and I’ve gotten my entire match. That is unless the new offer is amazing. Maybe at my age I should say I’d retire in May. 

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1 hour ago, Ted Lange as your Bartender said:

Company match does stop but my company will make an additional matching contribution early the following year to make me whole for their matching obligation. YMMV

Definitely check with your company, as I have had some who do this and some who don't. Usually winds up sending benefits into a tizzy, because they don't even know the answer right off the bat.

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2 hours ago, stbugs said:

Mine is a bit weird in that respect. They match 50% up to $3k, but it’s the entire deferral. That means that if you are set to say 14%, the match is 7% until you hit $3k so if your match is high you are exhausting it pretty early in the year even if you aren’t making FBG money.

It does mean that if I want to leave the company, I’d do it in May after the yearly bonus is paid and I’ve gotten my entire match. That is unless the new offer is amazing. Maybe at my age I should say I’d retire in May. 

That $3K really gonna make the decision on when you leave the company??  What kind of raise you looking at, $1500?

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2 hours ago, wilked said:

That $3K really gonna make the decision on when you leave the company??  What kind of raise you looking at, $1500?

Lol. You tend to be pretty dickish in your replies and no, if I have another job offer then clearly I’m not likely to make a decision based on this. I just was throwing out more of a joke (hence the old so retire self-depreciation) since my bonus and the 401k match stop tend to end around the same time. My bonus might make me think a bit more, but I’m not looking.

I’m doing fine, thanks for the concern. That said, not everyone on this site makes FBG money and I’m not one to denigrate them and what they do. 

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21 minutes ago, stbugs said:

Lol. You tend to be pretty dickish in your replies and no, if I have another job offer then clearly I’m not likely to make a decision based on this. I just was throwing out more of a joke (hence the old so retire self-depreciation) since my bonus and the 401k match stop tend to end around the same time. My bonus might make me think a bit more, but I’m not looking.

I’m doing fine, thanks for the concern. That said, not everyone on this site makes FBG money and I’m not one to denigrate them and what they do. 

Not trying to be a jerk, more that some people will focus on the immediate (the $3K) and lose focus on the bigger picture - I've seen it at my company (we get a company bonus in March).  Typically people will leave with a raise that more than offsets the bonus and waiting for the bonus and jeopardizing the new opportunity is the classic tail wagging the dog scenario

 

But I am glad you are doing fine 😉


 

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Wow, this stock market is really going crazy. I keep thinking a correction is coming but it keeps going higher.

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4 hours ago, Mr. Mojo said:

Wow, this stock market is really going crazy. I keep thinking a correction is coming but it keeps going higher.

I'm losing thousands today

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4 hours ago, Mr. Mojo said:

Wow, this stock market is really going crazy. I keep thinking a correction is coming but it keeps going higher.

That’s why people shouldn’t try to time the market by selling “high”. Sell when you need to. 

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24 minutes ago, Dentist said:

I'm losing thousands today

Then you made tens of thousands the past few weeks. It’s fine. 

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27 minutes ago, Dentist said:

I'm losing thousands today

Keep your patients.

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This time last year we sat on verge of a trade deal that blew up and things went to #### for a few weeks and I jumped out a window.  Tell me why we don't see that again here?  

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12 minutes ago, culdeus said:

This time last year we sat on verge of a trade deal that blew up and things went to #### for a few weeks and I jumped out a window.  Tell me why we don't see that again here?  

Because we're not on the verge of a trade deal?

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