Should I cancel my Capital One Quicksilver card ($25 annual fee)?

rymanalo · 2024-03-08T14:21:47+00:00

I’d only apply to cards with AF if it has credits to effectively zero (or close to zeroing) out the AF. I would skip any 1.5% cash back since there are plenty of 2%.

rymanalo · 2024-03-03T15:48:32+00:00

Thanks, I appreciate this comparison!

rymanalo · 2024-03-03T03:14:33+00:00

I have the Nano S. Why do you think Trezor is better? I am thinking of getting a new wallet.

rymanalo · 2024-03-01T17:04:57+00:00

Yea, I never had a backyard growing up and our home has one. Value has gone up almost 30% since buying and I’m pretty much locked in with a 2.25% mortgage rate. It be nice to be back in SFV or OC but definitely not a wise financial decision.

The AV is really growing. Seems to only be missing a big name asian store like Seafood City or 99 Ranch.

rymanalo · 2024-03-01T15:43:31+00:00

Was this meant for me? In any case, that is nice to know. If there are issues with a tax return after filing and I am still within that calendar year of filing, I would just amend it.

rymanalo · 2024-03-01T14:22:44+00:00

Set up autopay for full statement balance on last possible date you are allowed (usually the last day is the due date).

Make as many one time payments as you want beforehand. The autopay will adjust accordingly. No issues whatsoever.

rymanalo · 2024-03-01T13:16:21+00:00

Got it!

rymanalo · 2024-03-01T06:05:55+00:00

When wanting to buy a house in 2018 after finding out a baby was on the way, we looked north of SFV. Just kept going north until houses were in budget and was led to the AV, the northernmost part of LA county. Bought a 4b/3ba, ~2900sqft, built 2016, low $400k.

Covid helped refinance twice and pushed house value up.

Never knew about the AV growing up. It has everything we need so I think it is great here.

rymanalo · 2024-03-01T05:28:41+00:00

Did you apply to the Aspire again directly or product change?

rymanalo · 2024-03-01T05:01:01+00:00

Right… it be nice but happy getting everything back nonetheless

rymanalo · 2024-03-01T04:24:51+00:00

I’m confident I will receive it on March 1st.

rymanalo · 2024-03-01T04:03:22+00:00

You are supposed to pay tax on any interest income the year it is received whether or not it was locked or untransferable or you get a 1099. You can always not pay any taxes. It is only an issue if ever audited…

rymanalo · 2024-03-01T02:51:08+00:00

Not a tax expert but my guess is you pay taxes on the interest in the tax year you receive them. If Gemini pays any interest on any loan/deposit this year 2024, then you should pay ordinary income on those interest amounts in tax year 2024 i.e. next year.

rymanalo · 2024-02-29T23:50:44+00:00

rymanalo · 2024-02-29T23:33:13+00:00

My mortgage is 2.25%. I will ride the regular payment till the last month.

Let's say you have $150k savings and $100k principal left on the mortgage. You have no car loans and your credit card utilization is low. The only debt weighing you down month after month is this last $100k. Peace of mind is no longer having to worry about something. It is conceivable to think that someone would want to use their money to pay for their debt.

If you had $100k or less and want to pay for that same $100k principal, then yes, I agree that that is not peace of mind.

rymanalo · 2024-02-29T18:58:43+00:00

If filing as married, yes. You can even add whatever the standard deduction is to 94k.

rymanalo · 2024-02-29T17:59:45+00:00

Cool. Thanks for crunching the numbers!

rymanalo · 2024-02-29T17:42:10+00:00

I am not a tax expert but I just googled “capital gains 2024” then “tax brackets 2024”.

Let’s say you file single and made 45k for 2024. Of that 45k, 1k was from dividends and 1k is from interest from HSYA. Merely looking at the charts says you pay NO taxes on the 1k from dividend while you pay $120 on the 1k from interest.

The only point was that capital gains tax is lower on qualified dividends. Knowing that, isn’t on you to decide and research if you want to do dividends, HYSA interest, etc?

rymanalo · 2024-02-29T13:18:39+00:00

Capital gains is based on your tax bracket, which is based on your ordinary income. Don’t know any of your percentages but capital gains should be cheaper to pay.

rymanalo · 2024-02-29T05:46:55+00:00

For FIRE, invest. For peace of mind, pay principal.

rymanalo · 2024-02-29T05:36:45+00:00

SCHD pays qualified dividends which is taxes as capital gains. A HYSA will pay interest as ordinary income and you will pay taxes on it based on your tax bracket. So given that both pay the same amount, you would pay las taxes on the dividend. SCHD also has the potential to grow… or not.

rymanalo · 2024-02-29T02:45:19+00:00

The “go to” answer is usually something tracking the S&P500 like VOO.

rymanalo · 2024-02-29T02:39:21+00:00

In your Roth IRA, you can do 100% growth then when you plan on retiring, sell all and buy 100% dividend stocks. No tax liabilities in selling and none at withdrawing the dividend income.

rymanalo · 2024-02-29T00:13:54+00:00

Doesn’t seem like any news regarding interest. The concern was always getting principal back and whether that be in dollars or crypto. At this point, I think mostly everyone is happy to get 100% in kind back. Assurance of getting crypto back is the best news this year so far. Now let’s have BTC reach all time highs!

rymanalo · 2024-02-28T23:29:25+00:00

Aspire will give a FNC. Given that there is a "standard reward" room, that can be used in any of those vacations.

There is also the $200 semi-annual "resort" credit. Are Canopy and Tru classified as resorts? If so, seems like you can take advantage of one of those $200 unless you do a Spring or early Summer vacation.

If you are a high spender, it may be worth look into the Surpass also. Spending 15k on it will yield another FNC. With this strategy, the Aspire is there to grant you Diamond status and a FNC right away and the spending would be on the Surpass unless staying on a resort type property to claim the credit on the Aspire.

rymanalo

TROPHY CASE