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Personal Finance Advice and Education! (4 Viewers)
- Thread starter No. 16
- Start date
-OZ-
Footballguy
Rattle and Hum
Footballguy
REITs have market risk and interest rate risks due to their leverage (debt). An 8% yield is nothing if your REIT drops 24% and takes three years to get back to your purchase price. With that said, I haven't done my due diligence on Fundrise so I'm not sure what their leverage situation is or how strong their sponsors are. Also, since these crowdfunding sites are relatively new, No one knows exactly what will happen in a 20% correction; My experience with private real estate lending (fairly extensive) leads me to believe this fund should be OK as long as they are fully funded projects and not leveraged. Obviously I wouldn't put all 'lake-house' savings here but maybe consider for about 25% of it?
-OZ-
Footballguy
I'll need to dig deeper but I like what you're saying here.
This is only for the down payment, so probably only $80-100k over 3-4 years.
Juxtatarot
Footballguy
Not technically a savings account but I moved most of this type money back to Vanguard Prime Money Market Fund. (1.85% right now)
I also like I Bonds for emergency savings (2.52% right now). Tax deferred interest is particularly nice. They aren't for everyone though since there are restrictions to purchases and withdrawals.
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Chemical X
Footballguy
i love being in Vanguard’s triple tax free bond. but, principal is in play, though moves are small. downward price move usually means an increase in the yield for dividend, so no loss.
Dentist
***Official FBG Dentist***
Random
Footballguy
Juxtatarot
Footballguy
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I like this better because it is a MMDA, so you do not have the transaction limit you do with a savings account. But, yeah, Ally is a totally legit bank.
GoBirds
Footballguy
That’s interesting, let us know how it goes if you try it. I have stuff spread out would be interesting to get an overall assessment.
CR69
Footballguy
I use it mainly to keep track of my budget easier. I had issues with mint and my chase cards with my wife as an authorized user. Love personal capital so far and all of my accounts have two factor authentication so I sometimes have to give the app authorization again.
culdeus
Footballguy
Love it. If people do want to try it we should do referrals. Everyone that signs up generates 2x25 buck gift cards.
-OZ-
Footballguy
I downloaded and started inputting my bank and credit cards. Is it too late to give someone a referral?
Sand
Footballguy
It works very well. If you have enough in there they'll try to sell you on their services (which are a bit expensive, IMO), but the website output is superb.
-OZ-
Footballguy
I'm thinking of not including my TSP. One of the reasons I want to use it is the breakdown of expenses in the investments. I haven't completed loading everything, for whatever reason I'm having difficulty with capital one (wife's Roth and 3 of our college accounts were in sharebuilder, now capital one). But I don't really need advice on my TSP nor am I concerned about the expenses (on average 0.033%). But then our portfolio would be inaccurate...
I'm planning to ignore their offering of advice.
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culdeus
Footballguy
culdeus
Footballguy
culdeus
Footballguy
skycriesmary
Climbing up the Walls
I churn credit card bonuses like a mofo, but haven't got into the bank bonuses much. How many hours for that 2800?
matuski
Footballguy
-OZ-
Footballguy
Tried to use it, let me know if it doesn't work, or does. After we see if yours worked I'll figure out how to share and take a turn on the chain.
culdeus
Footballguy
The main thing you need is about 25k in cash to float. I basically stay fully invested with my remaining accounts and use the bonuses as cash equivalent.
You can churn bonuses that are just deposit based but they tend to be less lucrative.
Chase has 500 for 15k 90 day hold right now. That is enough to draw my attention and did that early this year. Doing citibank now. You can flip this annually.
For 25k hold can pull down 5k, pay 1000 in tax maybe, and takes maybe 2 hrs per account to deal with the transfers.
culdeus
Footballguy
Nothing yet but should hit it soon. They paid me off on a reddit referral. 25 each in amazon gift cards.
Sand
Footballguy
But, unless you have fresh cash to invest, they try to get you to sell current investments to get into their accounts. So (for most) a crapload of capital gains to get them to help with tax loss harvesting. Something, BTW, that it's pretty easy to do yourself.
Sand
Footballguy
Where do you find the info to mine these?
I do CC ones (have about 15k of points built up and working on 100k Marriott one), but have never tried this.
Count me as continuing to like personal capital after mentioning in here that I switched from Mint last year. Mint is better if you're in the phase where spending is your focus. Personal Capital is better if investing is your focus. This is my link if anyone ever wants to use it: http://share.personalcapital.com/x/QTIwy7
culdeus
Footballguy
Doctor of credit keeps a pretty current list. Sometimes you hit a epic combo that will let you fund an account with a credit card and get a bonus. pNC is like that right now.
-OZ-
Footballguy
-OZ-
Footballguy
Just finished listening to the podcast about using a HELOC to pay off your mortgage, like super quick.
The one thing they didn't address, to any degree anyway, was why not just pay more into the mortgage each month and skip the heloc? I get it if the interest rate is lower than your mortgage or if there's other benefits I'm not seeing, but this seems to just be rolling a short term loan at a higher percentage into the long term loan. Maybe there's a grace period so you don't pay interest for the first month, but doesn't that just mean you're at best 30 days ahead in the payment? That doesn't seem overly substantial.
The one thing they didn't address, to any degree anyway, was why not just pay more into the mortgage each month and skip the heloc? I get it if the interest rate is lower than your mortgage or if there's other benefits I'm not seeing, but this seems to just be rolling a short term loan at a higher percentage into the long term loan. Maybe there's a grace period so you don't pay interest for the first month, but doesn't that just mean you're at best 30 days ahead in the payment? That doesn't seem overly substantial.
culdeus
Footballguy
-OZ-
Footballguy
-OZ-
Footballguy
So I did input all my info into PC. Their allocation system is really nice. The breakdown is very similar to what I've been doing manually but this will be so much easier. I'll still do it myself once in a while, but maybe quarterly instead of monthly (or weekly sometimes).
Their results are a little but different than mine, mostly in the international stocks. I thought I had 30%, their result shows 26%. I'm guessing this is just that some of the holdings in those funds are bonds and cash. Which is good to know that I wasn't accounting for.
Overall I like the product so far.
Their results are a little but different than mine, mostly in the international stocks. I thought I had 30%, their result shows 26%. I'm guessing this is just that some of the holdings in those funds are bonds and cash. Which is good to know that I wasn't accounting for.
Overall I like the product so far.
ex-ghost
Footballguy
ex-ghost
Footballguy
I've used them for almost a year now. I gave up on the stock allocation tool, now just use it for tracking all my credit cards and banks, like Culdeus said earlier.
Here's my code: http://share.personalcapital.com/x/3co5b1
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-OZ-
Footballguy
ex-ghost
Footballguy
I have some stocks that Personal Capital can't translate and I am too lazy to enter it in myself. It keeps the running total of all my investments, which is fine by me.
Sand
Footballguy
I don't mind defining some of them, but the ones they have miscategorized and won't let you touch are annoying. Not a huge deal as the rest of it is pretty cool.
-OZ-
Footballguy
Gotcha.
Finally realized why the classes were off by just a little. The total amount includes my USAA investment holdings but the portfolio doesn't account for them. These are only our short term (house and car), my Roth, and a 529 I've barely funded for our 7yo (he has more in his coverdell). Altogether these don't account for all that much compared to her Roth, the other college accounts, and my TSP, and are allocated pretty close to the rest of our investments. but if I can't get those to load I'll have to use my spreadsheet when it's time to reallocate.
-OZ-
Footballguy
I ended up putting everything in and of course I got the phone call from Personal Capital for the free consultation. I don't really need it but wouldn't mind some affirmation on our allocations. I've considered going to a fee only adviser, a one time thing, but I'm not sure that's worth it either.
But I ended up agreeing to the initial conversation. If I were to use their pay service and they included our entire account, we'd be paying over $6,000 / year. I highly doubt they'll provide more benefit than their fee, I think 0.89% is way too high a price to pay for this service.
How hard a pitch should I expect him to make tomorrow? What's the "shark play"? I'm not signing up for their advisory service.
But I ended up agreeing to the initial conversation. If I were to use their pay service and they included our entire account, we'd be paying over $6,000 / year. I highly doubt they'll provide more benefit than their fee, I think 0.89% is way too high a price to pay for this service.
How hard a pitch should I expect him to make tomorrow? What's the "shark play"? I'm not signing up for their advisory service.
ex-ghost
Footballguy
Binky The Doormat
Footballguy
They did a decent analysis and a 20-some page set of analysis/recommendations. Their big pitch is:
1) equal distribution of assets across industry sectors instead of using overall market funds. Their studies show it is historically less volatile and would have produced better results
2) they actively manage tax impacts.
I wanted to see their pitch and approach. I had a guy named Hannes Gehring - he was ok at first but was increasingly aggressive. I told him I wasn't interested and thanks for his time. He insinuated I was making a poor decision and "wouldn't I agree that the 'facts' he had shown me would produce better results for me and my family."
LOL - the worst kind of hard-sell schlock BS.
The calls continued to come every quarter from the plebs trying to appointment set for the closer guys (good ol' Hannes was still my consultant). I turned them down and asked them to take me off their list. The calls continued until I said ..."sure, set up a call with Hannes if that will stop you guys from calling."
Call comes a week or so later on time. It's the pleb who set up the call - just like the old days, when the secretary would "get someone on the phone" to make sure Hannes didn't waste his precious time dialing. I wait for Hannes to come on the line. He arrives on the line in a couple of minutes ...keeping me waiting. "Well Mr. Binky what was it that you wanted to talk to me about?"
wtf? I said, "you guys are the ones that set up the call - I don't ever want to talk to you again." He proceeds to get ####ty, and I get ####tier.
They don't call me anymore.
