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burrocrat's Account Talk
- Thread starter burrocrat
- Start date
burrocrat
Well-known member
Schwab, checking account linked to brokerage account, no minimums. fund brokerage account via bank transfer after confirming test deposits, waiting for it to hit my bank. have to send in a form and check for checking account to authorize regular PP deductions from primary outside bank. then should be able to transfer online between all schwab accounts and outside bank easily.
Once theyr'e set up and funded will start Roth IRA and begin to sweep cash in monthly. We're talking small amounts here and a few weeks until regular PP contributions start getting to account, so i have some time to research potential investments, just feels good to get the ball rolling.
Once theyr'e set up and funded will start Roth IRA and begin to sweep cash in monthly. We're talking small amounts here and a few weeks until regular PP contributions start getting to account, so i have some time to research potential investments, just feels good to get the ball rolling.
Birchtree
Well-known member
Inside a Roth IRA they will reinvest your dividends for free providing you don't sweep them out. Dividends pay four times a year and you'll be surprised how fast your share base will build. It's an easy way to DCA. I never take my cash - well I will at some point when I'm older.
burrocrat
Well-known member
well the test deposits show up on my bank transaction history, i call the brokerage phone # but can't procede because my account is flagged as a new account, have to wait for 3-5 days or official approval, patriot act you know, just in case i'm laundering money. well at least i get free use of the brokerages funds in my bank account (total less than one dollar), all i really want is a roth ira, i wonder if turbo timmy had this much trouble avoiding his taxes.
come to find out this will only allow me to EFT from private bank to brokerage account, if i want to be able to EFT to 'free high-yield checking' (0.75% - that's a hoot!) that takes a mail-in form including check, deposit slip, and options for future automatic deposits, which i plan to coincide with pay day deposits.
after all that, when the accounts are funded, then i can open a roth ira and move money into that from either checking or brokerage accounts, even theoretically take profits off the table by EFT back to outside bank. whew i'm tired already, this investing stuff is hard.
i was doing 10% to tsp but now that debt is down i'm going to 'tax' myself a little more. 5% to tsp, 7.5% to online checking (5% to roth ira and 2.5% to build up more case safety net in checking with the option to stick it in the brokerage account and have a little fun money, man i hope i get this right).
i'll keep posting the timeline here, to get a real-world example of how long it takes to set yourself up on the road to financial diversification and hopefully independence.
come to find out this will only allow me to EFT from private bank to brokerage account, if i want to be able to EFT to 'free high-yield checking' (0.75% - that's a hoot!) that takes a mail-in form including check, deposit slip, and options for future automatic deposits, which i plan to coincide with pay day deposits.
after all that, when the accounts are funded, then i can open a roth ira and move money into that from either checking or brokerage accounts, even theoretically take profits off the table by EFT back to outside bank. whew i'm tired already, this investing stuff is hard.
i was doing 10% to tsp but now that debt is down i'm going to 'tax' myself a little more. 5% to tsp, 7.5% to online checking (5% to roth ira and 2.5% to build up more case safety net in checking with the option to stick it in the brokerage account and have a little fun money, man i hope i get this right).
i'll keep posting the timeline here, to get a real-world example of how long it takes to set yourself up on the road to financial diversification and hopefully independence.
burrocrat
Well-known member
i go into travel status for a few days this afternoon, so will not be able to post or transfer, cell phone but no internet or time to research. i went more conservative on my last IFT in anticipation of holiday and down time this week. hopefully can get a little gains if it goes up, but comfortable that 50% F will buffer losses if it tanks while i'm gone.
if nothing else, i'm looking forward to some new jokes in the 'black humor for red days' thread.
if nothing else, i'm looking forward to some new jokes in the 'black humor for red days' thread.
burrocrat
Well-known member
So things are progressing nicely, i got back late last night and today (fri) get caught up on things. I was able to confirm the two test money-link deposits, and move funds into brokerage account. That's 5 business days, although i recieved the email on the 21st so it could have been only 3 days if i had been in contact. Apparently i didn't trip any homeland security flags. Although the transaction shows as pending and won't be available until the 26th, 3 days to clear.
Just because i can now initiate transfers from outside bank to brokerage account, doesn't mean i can do the same to high-yield checking. I sent in a check and instructions for automatic deposits on tuesday before i left and it doesn't show yet. That will still not let immediate online transfers from outside to online checking, would have to go through the same process as brokerage for that to happen.
Today i opened a roth ira (unfunded) since i don't have any cleared deposits in any other schwab accounts yet. I assume the same process as above applies as well. I bet it's only a few days before i recieve more goodies in the mail, and a third account to verify before being able to log in and transfer outside funds directly in.
All that aside, it appears that once the brokerage account deposit clears, i can move internally from there to either of the other accounts. That wasn't the point though. I wanted to fund the checking online without delay, and move funds either from outside or internally to any/all accounts. It looks like i will end up with automatic deposits from outside to schwab checking, then can manually move from there to brokerage or ira accounts easy enough. Drop-down menus only allow one time internal transfers, not able to set up auto transfers inside to brokerage or ira.
Fair enough, I can adjust timing and amount going in, and manage from there.
I was doing (gross income bi-weekly) 10% + 5% match to tsp, here is the new plan: 5% + 5% match tsp, 15% auto deposits from outside bank to online checking scheduled a couple of days after payday, then move 5% each manually to brokerage and roth ira.
I doubled the 7.5% deposit goal to online accounts because i can swing it right now and will just have to get used to a smaller 'paycheck', deposit amounts are percentages not exact dollars so that should help increase savings over time.
I'm shooting for 25% of gross income distributed: 5% roth ira, 5% online checking (cash cushion), 5% brokerage (fun money), 10% tsp (5% + the free money), all while only committing 20% gross in, thanks uncle sam.
Hell, it's winter coming fast and not much to go do or spend on anyway, so maybe i can tighten up and get used to doing with a little less, as long as i'm warm and well fed, now if i was just well bred it would all be good.
I was born with a plastic spork in my mouth but goddammit i'm gonna turn it into a silver spoon one of these days.
Just because i can now initiate transfers from outside bank to brokerage account, doesn't mean i can do the same to high-yield checking. I sent in a check and instructions for automatic deposits on tuesday before i left and it doesn't show yet. That will still not let immediate online transfers from outside to online checking, would have to go through the same process as brokerage for that to happen.
Today i opened a roth ira (unfunded) since i don't have any cleared deposits in any other schwab accounts yet. I assume the same process as above applies as well. I bet it's only a few days before i recieve more goodies in the mail, and a third account to verify before being able to log in and transfer outside funds directly in.
All that aside, it appears that once the brokerage account deposit clears, i can move internally from there to either of the other accounts. That wasn't the point though. I wanted to fund the checking online without delay, and move funds either from outside or internally to any/all accounts. It looks like i will end up with automatic deposits from outside to schwab checking, then can manually move from there to brokerage or ira accounts easy enough. Drop-down menus only allow one time internal transfers, not able to set up auto transfers inside to brokerage or ira.
Fair enough, I can adjust timing and amount going in, and manage from there.
I was doing (gross income bi-weekly) 10% + 5% match to tsp, here is the new plan: 5% + 5% match tsp, 15% auto deposits from outside bank to online checking scheduled a couple of days after payday, then move 5% each manually to brokerage and roth ira.
I doubled the 7.5% deposit goal to online accounts because i can swing it right now and will just have to get used to a smaller 'paycheck', deposit amounts are percentages not exact dollars so that should help increase savings over time.
I'm shooting for 25% of gross income distributed: 5% roth ira, 5% online checking (cash cushion), 5% brokerage (fun money), 10% tsp (5% + the free money), all while only committing 20% gross in, thanks uncle sam.
Hell, it's winter coming fast and not much to go do or spend on anyway, so maybe i can tighten up and get used to doing with a little less, as long as i'm warm and well fed, now if i was just well bred it would all be good.
I was born with a plastic spork in my mouth but goddammit i'm gonna turn it into a silver spoon one of these days.
burrocrat
Well-known member
I realize that was quite a ramble there and i could have parted it out to up the post count but that's not the point.
I have to say, the company has been quick and helpful, nicely organized front end, fast phone answer and accurate responses, very polite and accomodating all the way, got what i wanted just not exactly when i wanted it ... Now if i could just find a woman like that.
I have to say, the company has been quick and helpful, nicely organized front end, fast phone answer and accurate responses, very polite and accomodating all the way, got what i wanted just not exactly when i wanted it ... Now if i could just find a woman like that.
WorkFE
Well-known member
You know your wrong:laugh:
burrocrat
Well-known member
So a few days later all moneys have cleared and i can move freely between online checking, brokerage, and roth. started the process to allow direct outside bank transfers to roth and checking, although mostly will be one auto deposit every PP to checking, then move from there.
I've had a chance now to explore a bit, wow. Lots of research tools, can check out any graph-any time period-any view (normal, candlestick etc.). Also can search see performance of sectors, sub groups, and drill down to individual offerings, stocks, bonds, ETF's, commodities and currency, all of it.
Like a kid in a candy store, i wish i had more money to spend. i feel like when i first got my drivers license, can't wait to get going, let's hope i don't romp out of the driveway without looking and rip the neighbor's nova from stem to stern like a can opener, yes it really happened, mom watching and everything. hurt to sit down for a while but learned a valuable lesson that day.
I like the idea of ETF's but at my levels the transaction fees are probably not cost effective and can't really day trade at work. Wide offerings of mutual funds are appealing, but worried about fees for short-term trades. Probably will hold cash until build balances, then diversify into a few sector funds not available at tsp. if i had a pile i'd short gold just for fun, see what happens by Febraury, but them dam bugs bite me ever time.
I did find the ETF Talk site, will watch and learn for a while.
Next step is see if they can get auto deposits straightend out and going by payday.
I've had a chance now to explore a bit, wow. Lots of research tools, can check out any graph-any time period-any view (normal, candlestick etc.). Also can search see performance of sectors, sub groups, and drill down to individual offerings, stocks, bonds, ETF's, commodities and currency, all of it.
Like a kid in a candy store, i wish i had more money to spend. i feel like when i first got my drivers license, can't wait to get going, let's hope i don't romp out of the driveway without looking and rip the neighbor's nova from stem to stern like a can opener, yes it really happened, mom watching and everything. hurt to sit down for a while but learned a valuable lesson that day.
I like the idea of ETF's but at my levels the transaction fees are probably not cost effective and can't really day trade at work. Wide offerings of mutual funds are appealing, but worried about fees for short-term trades. Probably will hold cash until build balances, then diversify into a few sector funds not available at tsp. if i had a pile i'd short gold just for fun, see what happens by Febraury, but them dam bugs bite me ever time.
I did find the ETF Talk site, will watch and learn for a while.
Next step is see if they can get auto deposits straightend out and going by payday.
burrocrat
Well-known member
goldang, how many legs has this bull got?
I count five, but i'm not sure that one of them is really a leg.
In any event, ferdinand seems to get around pretty good considering his age, lots of moanin and groanin going on, but when it's all said and done the herd seems pretty happy, pssst - i think they like it, and the cow jumped over the moon.
I can smell the capitulation coming, thinking about taking profits here soon though, come on shorts and pessimists fire this thing up.
I count five, but i'm not sure that one of them is really a leg.
In any event, ferdinand seems to get around pretty good considering his age, lots of moanin and groanin going on, but when it's all said and done the herd seems pretty happy, pssst - i think they like it, and the cow jumped over the moon.
I can smell the capitulation coming, thinking about taking profits here soon though, come on shorts and pessimists fire this thing up.
burrocrat
Well-known member
New allocation: 30G, 30F, 15C, 10S, 15I.
Going to take some off the table on what (hopefully) should be a strong finish today, preserve some gains. Last trade of November, I hate being in a more conservative mix for another two plus weeks at this time of year, but left a little in so i'm not totally out in the cold if it takes off.
I've got the brokerage and roth accounts basically all-in so i don't feel too bad about going soft here.
Side note, this is the first time since i can't remember when i've put anything in the G fund.
Going to take some off the table on what (hopefully) should be a strong finish today, preserve some gains. Last trade of November, I hate being in a more conservative mix for another two plus weeks at this time of year, but left a little in so i'm not totally out in the cold if it takes off.
I've got the brokerage and roth accounts basically all-in so i don't feel too bad about going soft here.
Side note, this is the first time since i can't remember when i've put anything in the G fund.
burrocrat,
You can still use the <1% moves for the rest of the month to increase your percentages in the FCS&I funds.
grandma
Well-known member
....I believe you have to have something still in which ever one/s you want to slip into.
burrocrat
Well-known member
my first thought is similar to buster's, but a part of me just likes the idea of sneaking in a few extra trades.
as of 11/18 tsp site says i'm at: G29.85, F29.90, C15.13, S10.10, I15.02. from what i understand of the <1% option i could increase to F30, C16, S11, I16 leaving G with 27, is that how it works?
these percentages will be different tomorrow morning but that's the idea right? with 6 trading days left in the month, the most i could expect to move back in would end up at F35, C21, S16, I21 leaving G at 7? some of those days are bound to be backward where i moved say to 18 but finished at 17.95 and have to use a day getting back to 18?
maybe i'm over thinking this, might just have to try it to figure it out.
does tsp get mad and send you warnings or put you on a black list? anyone?
burrocrat
Well-known member
thanks kevind,
so with 6 days left and 3 days to implement <1% would mean max in scenario at end of month at: F32, C18, S13, I18, leaving G at 19?
the possibility of ditching 1/3 of G position makes me feel 2/3 better already. dam i like to think of myself as an optimist, but i'm not showing much faith in our system here am i?
so with 6 days left and 3 days to implement <1% would mean max in scenario at end of month at: F32, C18, S13, I18, leaving G at 19?
the possibility of ditching 1/3 of G position makes me feel 2/3 better already. dam i like to think of myself as an optimist, but i'm not showing much faith in our system here am i?
