PessOptimist's Account Talk

[PessOptimist]

Re: Pessoptimist's Account Talk

You can just move your IRA, and keep it as a traditional. You don't have to convert to a Roth, although it may be wise, it's up to you.

PO, you can move your IRAs just about anywhere and purchase some dividend bearing stocks or mutual funds. One of the projects I took on this year was consolidating all of my retirement accounts under on bank. I had five different retirement accounts scattered in 5 different places, Now I have a Wells Fargo account that has my checking, savings, Roth IRA, Traditional IRA and Taxable brokerage all available through one login. It makes managing everything much easier. Honestly, I feel so much more in control of my savings goals now, it's great. Wells Trade isn't the best platform, but if your combined accounts exceed $25k you qualify for an account that gives you 100 free trades in EACH of the investment accounts, for me that's the Roth, Tradition and Taxable, so 300 free trades. Now trading ETFs in my IRA is VERY nice, no commissions or tax implications (because they are IRAs)!

Anyway, many of the discount brokerages are good if you just want to buy and hold. My Sharebuilder Roth account was great because I could set it up for automatic investments, bi-weekly, to continuously dollar cost average into funds. Regular trades are something like $7 there. Not bad if you just want a few good dividend payers to buy and hold. I've moved away from that in IRAs...but still like to do it in my taxable brokerage.

Thanks for the reply, Mapper. Since you took the time, I owe you a reply.

Good deal on you getting that stuff somewhere you can easily manage it. Thanks for the suggestion about WF. It is under consideration. I tend to forget about my old IRAs until something brings them to my attention. The only reason I remembered one was because they sent a letter to my wife about a service charge on hers. Neither one of us got a statement for 2011.

To update my earlier posts, my wife decided to move her small IRA to our credit union and convert it to a Roth CD that pays 2.25%. Today she was told she couldn't do that without paying a 10% penalty in spite of the IRS statement in publication 590:

"Converting From Any Traditional IRA Into a Roth IRA

Allowable conversions. You can withdraw all or part of the assets from a traditional IRA and reinvest them (within 60 days) in a Roth IRA. The amount that you withdraw and timely contribute (convert) to the Roth IRA is called a conversion contribution. If properly (and timely) rolled over, the 10% additional tax on early distributions will not apply."

So she will move it to a traditional savings account and supposedly can move it to something else in "a couple of weeks". I am too tired to fight with her or the credit union. I just hope she can move it within 60 days.

As far as my own IRAs, one is in a CD until September, one I can move any time, just have to figure out where. I will figure that out soon, I hope.

 

[PessOptimist]

Re: Pessoptimist's Account Talk

An update on the small, relatively insignificant matter of my wife moving her small IRA.

26 Mar - she went to the CU to do the paperwork. Since all existing accounts were joint, she had to open an IRA savings account to get the ball rolling. The idea is supposed to be that once the money is transferred she can move it to another instrument.

6 Apr - The paperwork is still sitting on "someone's" desk at the CU. It will be sent out "today".

10 Apr - CU says the paperwork was sent to JPMC "yesterday".

16 Apr - The CU has heard nothing. JPMC says they got the paperwork and the money will be sent "today".

Interesting coincidence she calls on the very day action will be taken. She must be psychic.

It hasn't even been 30 days yet. We are being too impatient?

 

[PessOptimist]

The past few years I have posted something about Memorial Day or Remembrance day as some of the older people I knew called it. Those people are all long gone now and I have just had a milestone birthday.

The last few weeks at work and home have been very busy and the weekend so far has really sucked. I won't go in to details but another choreographed pleasure trip has been planned and we are off tomorrow.

I was going to blow off posting anything about the holiday. Then I had a few minutes to sit down and read a few of the posts here and reflect. There are some on this board facing far more serious life issues than I am. My thoughts are with them. There are some who gave far more than I ever did.

However you celebrated the weekend, please keep in mind the holiday's meaning. Anyone who wishes to know how I feel may search back to last year or 2010 at this time.

Best wishes to all.

PO

PS the wife's IRA was finally transferred but now she won't move it out of the .25% account it is in. Frankly, I don't give a damn.

 

[Birchtree]

Cash always has value to be used as collateral for a future purchase.

 

[nasa1974]

Re: Suppose

PO, Thanks for the birthday wish. I was down in North Carolina for the weekend and stayed away from the computer until Monday. Sorry I missed your birthday. You would think I would remember since we share the same day.

Any way!! Happy Belated Birthday.

 

[RealMoneyIssues]

Re: Suppose

Yup PO, missed it too. I usually rely on Grandma to post birthday messages...

Happy (Belated) Birthday

[TABLE="width: 500, align: center"]
[TR]
[TD]

[/TD]
[TD][/TD]
[TD]

[/TD]
[/TR]
[TR]
[TD][/TD]
[TD]

[/TD]
[TD][/TD]
[/TR]
[TR]
[TD]

[/TD]
[TD][/TD]
[TD]

[/TD]
[/TR]
[/TABLE]
​

 

[PessOptimist]

what I did on my summer vacation

On day 6 of vacation and day 3 of Catalina Island. Finally starting to relax but tomorrow we leave the island and drive a lot again until we get home.

Had a fine ride provided with the lodging.

It is cheaper to run than a Chevy Volt. Good thing. We topped off the tank as per the agreement before we left. Receipt below. Note price per gallon.


Prics are not much better between here and the PRK/AZ border.

 

[RealMoneyIssues]

Re: what I did on my summer vacation

Prices are not much better between here and the PRK/AZ border.

Almost reaching their goal... $1.10 to go

Enjoy the rest of your vacation!!!

 

[Sensei]

Re: what I did on my summer vacation

Prics are not much better between here and the PRK/AZ border.

The People's Republic of Korea now shares a border with Arizona? Take a nap, and look what I miss!

 

[PessOptimist]

Re: PessOptimist's Account Talk or what I did on my summer vacation

Back from vacation. Fortunately I now have a weekend to sleep and get ready for work.

Sensei, that K would be for Kaliforneea.

Not a bad vaca, got rid of three of the women at Long Beach and went to Century City. The Hotel Intercontenental was the lodging for two nights. GSA rate wasn't bad but EVERYTHING else costs extra. Plus tips of course. Nephew gave us a tour of the movie studio he works at.

On to Palm Springs. They let me park my own car there but it cost that same as valet. Whatever.

Story about gas prices in oil slick. Honda Pilot continues to disappoint at 20 mpg. My 01 Dakota 4x4 V8 does better on trips.

Market went up a bit, I am positive on the tracker again. Whoo Hooo. Now what?

 

[burrocrat]

Re: Pessoptimist's Account Talk

Hey cuz.

I got all distracted by that whole planking owling diversion thing, sorry 'bout that.

I'll try not to let it happen agin on accident next time.

 

[PessOptimist]

Re: Pessoptimist's Account Talk

There is very little doubt the universe is unfolding as it should.

Don't worry, be happy.

Ran out of cliche's.

I'm too old to plank (unless I die lying straight).

I can only owl on flat open surfaces and need help to stand up after.

PO

 

[burrocrat]

Re: Pessoptimist's Account Talk

Out of all the engineering technicians i don't know, PO, i think you're my favorite one.

 

[PessOptimist]

Re: Pessoptimist's Account Talk

Points I have been pondering.

Why care about the YTD in autotracker when it is a life long thing?

Why get hung up on the before 1200EST deadline when you can't make any money trading that way.

If you think you need to move your money between funds, just do it when you have time. In the long run, it will be good or bad. Waiting until 1200EST will not change things that much.

Note to self: get a job where you sit at a desk all day watching the stock market and TSP Talk.

 

[Birchtree]

Re: Pessoptimist's Account Talk

Man that's exactly what I do - but I had to do many years in grade to reach this point. If I had an extra $300K I'd spend it right now on wall flowers.

 

[PessOptimist]

Tsu Shima? Is that the island between Japan & Korea, or is there a place in Fukuoka with the same name? I love FUK (that's the airport abbreviation!). We're going to visit during winter break. Were you there as a gov. employee, or otherwise employed? The only bases we have that I know of in the area are Sasebo and Iwakuni. I'd love to live up there some day.

Yeah, Tsushima the island. We stayed in Tsutsu or Tsu city or whatever it really is called. Something to do with the way the JTR listed per-diem rates in those days. I don't remember the name of the hotel but probably will look it up as a result of other groups recently discovered which are asking if anyone has been there since, say 1960.

OK back on track somewhat. This is going to be long.

Sometime in the late 80s or early 90s (I have to look it up, we were in TDY to Pusan Korea before, during and after the 88 Olympics, Japan and the PI thrown in there somewhere) a test and evaluation team consisting of an O-3, E-7 and four E-5s was given the assignment of testing and evaluating things in the far east area.

This was during a period of reorganization and we were a new team, never deployed together before. We had previously geared up for deployments to the Mediterranean and northern Canada, orders always being cancelled at the last minute. Somewhere in there we tested and evaluated something in Maine.

None of us had ever been to Asia before. We soon came up with a way to remember Fukuoka and our hotel, the Nishitesu Grand. Language is such a funny thing.

We shipped all our stuff to Itazuke AB JA and packed our personal stuff for a long commercial flight to NRT via OAK. Dredging all these memories up actually gives me a time stamp because we left OAK either the 16th or early on the 17th of October 89, just before the Loma Prieta 7.1 tremor.

Upon arriving at NRT, we collected our bags and took a DOD bus to Yakota AB. There we were told we would have to take another bus and a train to Yokosuka since the visiting quarters were "full". Fortunately our orders had some verbiage about "mission, priorities and substandard quarters 'at team chiefs discretion'". We ended up in some adequate accomodation on Yokota AB where we had to (gasp) use a common latrine and the Captain and I were roomies. We got along OK esp since he was prior enlisted. All anyone on the team wanted was to get a cot and not have to take a 2 hour train ride and have the Navy tell us they were full. It has always amazed me how many spaces the AF billeting people actually have that they will not give out.

After the in-brief at Yokota, the Captain was magically found space in the VOQ. I was told the other bed in my room was "blocked" so I had SNCO privileges? That evening a very old retired Lt Col was my room mate. Another story!

I gotta get to bed, work tomorrow. I will try to continue this over the weekend.

Sensei, sorry you asked yet?

PO

 

[Sensei]

Re: Suppose

That's awesome. Didn't mean to be too nosey, but I'm always interested to hear other people's experiences in Japan. So many of the Americans I work with in Okinawa never take the time to see any other part of Japan, they're so focused on just getting the hell out whenever they have the time and money to travel. It's a shame. Glad you got to experience it.

 

[PessOptimist]

Re: Suppose

Not being too nosey Sensei, I have lots more. Maybe i should start a blog but it would not be about investing. PO rambles on about the past while not taking care of the future? Good title.

At the end of last year I made some changes to my allocation, thinking I could follow a dip and get a bump. I also vowed to pick someone more successful and tail gate them.

I did neither, due to getting busy at home and work, loss of interest and other excuses ad nauseum.

If I had just left it alone in November 11, I would be up over 9% right now.

Of course I would be wondering if I should call it enough and move to G.

There I go again thinking about calendar years and a contest. This is a five year thing and has to do with living out however many years are left after that.

Is it time to move back to the old standard 50G/50C and forget it?

 

[PessOptimist]

cont. FUK story



The next day we took another DOD bus to HND for a flight to FUK. Insert jokes here.

The flight was on ANA and the leg room was really small. I am not that big a guy, probably just over six feet and about 175 pounds at the time. When the shinshi in front of me slammed his seat back down I was wedged in. He turned around and smiled at me.

This established my first impression of the men of Nippon which would be confirmed in the coming months as very polite and proper but willing to stick it to you in any possible way.

At FUK we picked up a rental mini van and at that point the Captain asked if anyone had ever driven a right hand drive vehicle. Crap! I was the only one, having spent 3+ years in the UK. So I get to be the driver to the Nishitesu Grand. Fortunately most road signs in Fukuoka are in Romaji as well as Kanji. Sensei or anyone, feel free to correct any of my attempts at Japanese. It was a long time ago.

At the hotel, we are swarmed with about a half dozen people wanting to take bags, park the car and maybe find us a change of clothing. We all looked pretty presentable but if I had known I would have packed my one black suit and white shirt.

The rooms were small but very nice, I have never seen a modular fiberglass bathroom so small in my life. I put my foot in the tub to brush my teeth and shave. It all worked very well though. There was a phone by the toilet. To turn the electricity on in the room you inserted your room key in a switch. Therefore when you left you had to turn off the room. Very efficient.

The food - it took a while to figure it out. The restaurant at the hotel and the ones recommended by staff either served "western food" at prices way over our per-diem rate or showcased the so called very best of Japanese cuisine. We had a couple of days at FUK collecting our equipment at ITAB and getting ready to split up and deploy to Seburiyama and Tsushima. There was one orientation trip to Seburiyama in there somewhere.

More later, am embarrassed a bit about this but want to share. My sig other wants to watch all the anniversary stuff on TV about what happened 9/11/01. I have had enough and am going to try to go to sleep. I will never forget, I just cannot relive it all tonight.

 

[PessOptimist]

Re: PessOptimist's account talk

Woohoo! I am fairly up tonight, also somewhat worried.

I do not remember if it was in this thread or another, the subject of young co-workers asking about TSP came up. I mentioned that I had been asked and I had explained how to log in and how to move money around between funds and that some of the money probably should be moved out of G and in to one of the L funds while learning more and making other decisions.

Today about quitting time while we were all submitting our T&As, the subject of money came up. This young co-worker stated that they had finally moved some money around. This person has been a fed for about four years. Another co-worker who has under two years mentioned they had just left it in G and never logged in to tsp.gov. I explained again how the IFT worked, the noon/closing rule worked and the two per month IFT limit with unlimited IFTs to G. I hope well. A question was asked about payday allocations v IFTs and I said the IFT does not effect the contribution allocation.

The co-worker who did the first IFT mentioned he moved 30% to I fund and then a foreperson walked in and said he needed to ask me some questions. The two young co-workers wisely logged out of their computers and "beat feet" as we used to say.

The question, of course could easily have been handled by e-mail and waited until say Tuesday, Then the phone rang and two e-mails from another foreperson popped up. It was BTW after quitting time by now. Fortunately all the calls/e-mails were questions easily answered. The in person foreperson was still there waiting patiently. I did get out of there less than 30 minutes after the end of the day.

I was whining above. No OT authorized for that 30 minutes BTW. Oh well. The incentive to leave on a Thursday? We are AWS 4-10 people.

Monday we celebrate Leif Ericson day.

I am happy this person finally made an IFT. I am concerned about where the rest of this person's TSP was transferred to and what will happen to the funds. I think the co-worker said he left 10% in G before end of the day work intruded. The other young co-worker seemed interested in looking in to it. I hope the other young co-worker does at least find out how to log in.

I find that most new feds may make an allocation at some dollar amount or percentage to their TSP but tend to leave it in G fund. The two above mentioned are or were trainees and concentrate on learning the j.o.b. above many other things. They also seem to be somewhat dedicated to doing things right, something I do not always see in new employees. Whatever, I hope at least that they start being aware of their TSPs.

In case anyone is worried, I tell them I cannot and will not give them advice about what fund to move to. I do tell them about my dismal returns over the years and attribute it to my lack of knowledge and attention to the account.

I also mention this forum and a couple others that they should read, and point out the returns some get.

They do not have time for all that reading/research right now so suggestions are welcome about what they might do to beat G fund. Keep in mind they do not really have time to look at TSP during the week and do not have funds for a paid service.

Hope I am not wrong about mentioning L funds as an alternative to leaving it all in G.

Younger enthused workers are the future of the crafts in the fedworld. I only wish I saw such a bright future in the GS ranks around here.

Regards

PO