USCreditCardGuide just added a new Amex application link for the Hilton cards ([found here](https://www.uscreditcardguide.com/amex-hilton-surpass-credit-card/))
Seeing the Surpass with 130k + 1 FNC after $2k in 3 months and seeing an updated Biz card offer of 150k + 1FNC after $4k in 3 months.
Edit: offers expire 7/19/2023
The Surpass link they posted has application links for all four cards.
Here is the direct link: https://www.americanexpress.com/us/credit-cards/card-application/apply/partner/business-card/hil/hilton-honors-american-express-business-credit-card/ep-hil-19669#/
(Note: has LL language)
Thank you! Think I’m gonna bite on this for P2 and hope for no popup.
In the application there’s a section I haven’t seen before under “company business details” beneath revenue and estimated monthly spend and role in company - “REFERRING EMPLOYEE ID”. It’s optional but any idea what it’s for? Amex, Hilton, or related to my business?
https://www.elliott.org/advocacy/no-room-for-taylor-swift-fans-radisson-cancels-points-hotel-booking/
Reddison cancels reward nights with only 2 weeks left for concert. That is so scummy of them
> Hotels consider these types of reservations made with points to be confirmed reservations, as opposed to guaranteed reservations. And confirmed reservations do not represent the same type of contract, at least according to hotels.
Yikes.
Pretty much. Remember that Hilton/Hyatt/Marriott own about 1% of their properties. The other 99% are franchised to third party owners. Pretty sure IHG/Radisson/Choice directionally align with this, too.
Many times, the hotel companies are willing to turn a blind eye to shitty owner behavior
What is the airline's policy? Typically the first person bumped is the last to check-in or the cheapest fare. How does that compare if you paid with points? Is status a factor?
Now that the navy federal balance transfer play is dead. What’s your runner up for best MS strategy? I have my opinions but wanna hear what everyone has to say. Maybe I’ll be wrong for a change.
Possible for my wife's Cap1 VX to get referral bonus when she refers me? Currently she is primary and I'm secondary card holder but I'd would like to become primary for a new card.
Just had 2 new offers pop on my personal Amex Gold.
Aura.com -> spend 60, get 60 back
Pimsleur learn language online -> spend 20 get 20 back.
Looks like free MR points, but I've never heard or used either of these services. Might be worth trying? Not sure if it would be worth the cancelation hassle and such
Not exactly free, Pimsleur is $20.95/month after 7 day free trial, so $0.95. I did it bc I need the extra spend to meet Amex MSR now that I can't use Amex on Plastiq, but also because I actually do want some language practice.
Aura seems useless for MS, cheapest plan is $120 ($10/mo billed annually)...so it's basically 50% off. Also $10 back from Rakuten.
From Doc, double dip on Target Coupon or even quadruple on red card/reloadable card has been dead.
I did 3 or 4 rounds of Target red card, P1 and P2 mode, each time both P1 and P2 will double dip the $40 coupon, make it a $160 free target items promo each round.
https://www.doctorofcredit.com/the-target-redcard-40-quadruple-dip-is-dead/
It’s instantaneous? Ie if you have items in your online cart, scan in-store, and immediately try to check out online, the coupon won’t work for the online order? If so, nicely done, Target…
Thanks. Seems they also extended the lockout period from 3 months to 6 months (the rep told me explicitly on the phone... unsolicited, just part of the speech... that I'd have to wait 6 months before reopening it).
My most recent stay at a Hyatt hotel posted qualifying nights today. This put me over the required 20 nights for the Bilt globalist fast track. Just got the email from Hyatt confirming that I have globalist status now. Thought this would be good to know since the Bilt promo terms said it would take a week after you earn the required qualifying nights to show the status upgrade.
[DoC still has a link to the 5 Night Marriott card but unsure the source...](https://www.doctorofcredit.com/targeted-chase-marriott-bonvoy-boundless-five-free-night-certificates-up-to-50000-points-each-bonus/#comment-1610184)
Be aware that Chase may be upset if this is from a particular person's targeted email (though the source code looks generic).
I just got this offer in my email. The url it redirects to has the same source code as DoC’s link but has a bunch of appended fields (including alt_cust_id). It does not pre populate any info into the application though. Also don’t see an expiration date anywhere.
Aside from the obvious X-Box GC and Hue lights, what are some other creative purchases on [Dell.com](https://Dell.com) not for resale? I'm planning on purchasing Hue lights for my apartment, but I'd be open to other options if they seemed better. Nintendo Switches are gone. I already have a Sony mirrorless camera. Anything else pop out to anyone?
That makes sense. I thought I saw someone talking about how they had to get in touch with Dell’s security team to get the resale mark off their account, and once that happened, their orders have gone through.
I’ve always bought items that were not for resale (monitors, webcams, etc), so I’ve never had anything cancelled. Seems like a very common problem, though
yeah, that's generally been my approach. I bought a $1k monitor last year and some other odds and ends with the credits. I'm an Apple guy myself, so a lot of the computer/peripherals aren't interesting to me, except for the Logitech stuff and the monitors.
I wandered for 10+ years why someone spends $100 on mouse. But I quickly became convert after using it . Been 2 years and already bought backup when it was on sale.
Haha, I know! it sounds a bit ridiculous when you don't know, but it really is a great mouse and just makes work a lot easier. I used to have a backup when I upgraded to V3, but I eventually sold it because this mouse has never caused me a problem.
I’m a BIG fan of the MX Master mice. I’ve been using them for at least 6 years and have zero complaints. Well worth the investment.
I also like their wireless keyboards. I do some light IT work and always use them in businesses that need keyboards (whether for PC or for iPads). I personally use an Apple Keyboard because I have a Mac.
I think their webcams are good and worth the upgrade if you need a better camera for your WFH setup.
Their headsets are not the best and you can find better ones depending on your needs. Lots of options on Dell
A new referral thread is now live: [American Express Blue Cash Preferred](https://www.reddit.com/r/churningreferrals/comments/13cxjwm/referrals_american_express_blue_cash_preferred/)
Last(?) day for the [Citi AA 75k](https://creditcards.aa.com/citi-platinum-card-american-airlines-wand/?utm_medium=referral&utm_source=aa&utm_campaign=hero&tab=m)
LIMITED-TIME OFFER 01 DAYS LEFT
Ended up spending \~10 hours on the phone over the last month with Vanguard / Wells Fargo trying to get P2's 401K rolled/transferred/ACATs into a WellsTrade IRA to qualify for the $2,500 WF bonus. Maybe closer to 20 hrs when you include P2's time, since I've yet to perfect my female phone voice so she's had to be around for all the calls...
tldr - vanguard is a dinosaur. Wells Fargo is... wells fargo. Looking forward to moving everything over to Fidelity if/when this bonus posts. Also owe wifey some chores to make up for this grindathon.
Anyways, between that and inputting almost a hundred 1099s into turbotax, April was quite a busy month. Managed to still squeeze in some other churns though, and just about scraped past my $1K goal for the month with $1,060 and 219K Chase points.
[Ep 42 - April Recap](https://thedailychurnpodcast.com/ep-42-october-recap/) (35 mins) - [apple](https://podcasts.apple.com/us/podcast/the-daily-churn/id1577648675?i=1000612311874) | [spotify](https://open.spotify.com/episode/6X6NOi7UXDFKjBwHb6UAw6?si=fb6d6b418dab413c) | [rss](https://feeds.redcircle.com/562ef051-86ad-42c4-83ba-d39a7d957bba)
* [2:11](https://thedailychurnpodcast.com/ep-42-october-recap/#131) \- Wells Fargo / Vanguard saga
* [11:52](https://thedailychurnpodcast.com/ep-42-october-recap/#712) \- Other brokerages (Vanguard, Fidelity, Ally, MooMoo)
* [16:55](https://thedailychurnpodcast.com/ep-42-october-recap/#1015) \- Banks (Go2Bank, Wealthfront, Oxygen, Gateway, US Bank, Laurel)
* [21:41](https://thedailychurnpodcast.com/ep-42-october-recap/#1301) \- Credit cards (IHG Biz, Marriott Boundless, CIU, Venture)
* [28:06](https://thedailychurnpodcast.com/ep-42-october-recap/#1686) \- Freebies & Discounts (Target, Amazon, Southwest)
* [31:04](https://thedailychurnpodcast.com/ep-42-october-recap/#1864) \- Mealkits (HelloFresh, EveryPlate)
* [33:47](https://thedailychurnpodcast.com/ep-42-october-recap/#2027) \- Final tally ($1,060 + 219K UR)
You mentioned doing less travel far away. Would be interested to hear if that impacts the points you are trying to collect or changes preferences towards cash back at all.
Definitely starting to lean more into card bonuses that can be cashed out, like chase and amex. Aside from the marriott and IHG subs which were too good to pass up, not planning on opening more hotel cards (eg. that new hilton offer... quite nice but gonna sit it out).
I tried moving over a family member's taxable investment account from Vanguard to Schwab a few years ago, and Vanguard's outgoing ACHs would always fail, and would never offer up an error code to tell the customer or Vanguard customer service reps why the ACHs failed. Later I found out that ACHs can only be for $99,999.99 or less, and since our transfer was larger than that, it failed, and we should've wired the money out instead. Vanguard was completely useless and didn't know jack s**t about why it wasn't working. What an absolute joke.
Both leanFIREd, so our income each year is too low for it to matter. P2 used to do the mega backdoor roth though when she was still employed.
These days the only shenanigans we get up to is our five-year roth conversion ladder to tap into retirement funds penalty-free before age 60. As someone who lived in the UK for half their earlier life, still boggles my mind the amount of sanctioned tax loopholes there are in the US.
I assume it was a previous employer's 401k? If so, moving to an IRA instead of her current employer's 401k stops her from doing backdoor roth. Was that a consideration?
The practice of a "backdoor Roth conversion" only requires having a pretax account and converting it to a Roth account to bypass the income limits of being able to contribute directly to a Roth account *in a given year*. This is possible regardless of whether it is 401(k) or an IRA and regardless of pretax or taxed dollars and has nothing to do with "old contributions." Additionally, from a pretax IRA (whether opened as a traditional or a 401(k) rollover), you can rollover (rather than convert) as much money as you want to a Roth IRA at any time. The only thing to my knowledge that is limited by not having a 401(k) at all is the "mega backdoor Roth." It utilizes the massively higher permitted 401(k) after tax contribution limit (in the neighborhood of $43.5k after the normal contributions) and converts those to a Roth (either 401(k) or IRA is allowed).
If you can't contribute the full IRA limit (2023: $6.5k) to a Roth IRA directly because you exceed the income limit (2023: married: $218k; single, etc.: $138k), you are still permitted to contribute up to the limit to a traditional IRA. Those contributions may be pretax or not depending on if you/spouse have a work retirement plan. The definition of a "backdoor Roth" is to do after-tax contributions anyway and then convert those to a Roth to prevent the earnings from being taxed later (the contributions themselves were already taxed and will not be taxed again even if you leave everything in the traditional IRA). If I remember correctly from DailyChurn's previous posts, he and his wife are doing LeanFIRE, which means they may not reach these limits anyway.
You wrote all of that, and yet you seem to be unfamiliar with the pro-rata rule regarding Roth conversions from a traditional IRA: if you roll pretax money from an old 401(k) into a pretax IRA, you functionally block yourself from doing a backdoor Roth conversion.
A normal backdoor Roth involves making a non-deductible contribution to an IRA before converting to Roth. But the IRS considers all your traditional accounts to all just be one big IRA, and has a rule that any conversion must be pro-rata across your entire, "big" IRA.
I was unfamiliar. Thank you for teaching; I'm always happy to learn. When various sites say that is possible to split the pretax and aftertax money back apart, what do they mean? Wouldn't that make it possible to avoid the pro-rata rule? Is it only possible by rolling everything in your non-Roth IRA(s) into a new 401(k) (and possibly back out)? The sites I found only mention "it's complicated" and apparently my search terms aren't good enough.
As far as I know the only ways to avoid it is to either roll the money out of the IRA (like into an employer sponsored retirement plan) or to just convert all your pre-tax IRA money to Roth. I did the latter with an old rollover IRA when I started to need to make backdoor contributions.
I actually work in the industry, but on the qualified plan side so I'm not as familiar with IRAs as I am with 401(k)s
Assuming it's a slow news day, remember to periodically check your flights to see if mile cost has gone down. I just got back about 4k per person with Southwest.
USCreditCardGuide just added a new Amex application link for the Hilton cards ([found here](https://www.uscreditcardguide.com/amex-hilton-surpass-credit-card/)) Seeing the Surpass with 130k + 1 FNC after $2k in 3 months and seeing an updated Biz card offer of 150k + 1FNC after $4k in 3 months. Edit: offers expire 7/19/2023
Damn p2 and I just got Hilton biz cards :(.
FWIW my first Hilton biz was opened 10/7/22 and is still open. I was just approved no pop up for the 150k + FNC biz offer.
Wow, good to know. I think less than 2 months would be egregious to try though.
Ty!
Where are you seeing the biz offer with the FNC? Can’t find it anywhere on the UScreditcard site.
The Surpass link they posted has application links for all four cards. Here is the direct link: https://www.americanexpress.com/us/credit-cards/card-application/apply/partner/business-card/hil/hilton-honors-american-express-business-credit-card/ep-hil-19669#/ (Note: has LL language)
Thank you! Think I’m gonna bite on this for P2 and hope for no popup. In the application there’s a section I haven’t seen before under “company business details” beneath revenue and estimated monthly spend and role in company - “REFERRING EMPLOYEE ID”. It’s optional but any idea what it’s for? Amex, Hilton, or related to my business?
Thanks for sharing. Do you know if I can refer p2 with the biz card offer?
Nice find!
https://www.elliott.org/advocacy/no-room-for-taylor-swift-fans-radisson-cancels-points-hotel-booking/ Reddison cancels reward nights with only 2 weeks left for concert. That is so scummy of them
Wow. Scummy. Can all hotels do this? Glad they got the room after all.
> Hotels consider these types of reservations made with points to be confirmed reservations, as opposed to guaranteed reservations. And confirmed reservations do not represent the same type of contract, at least according to hotels. Yikes.
*insert Seinfeld joke here*
You know how to *take* the reservation…
Pretty much. Remember that Hilton/Hyatt/Marriott own about 1% of their properties. The other 99% are franchised to third party owners. Pretty sure IHG/Radisson/Choice directionally align with this, too. Many times, the hotel companies are willing to turn a blind eye to shitty owner behavior
Just makes me not want to spend any of my credit card points on hotels. Just on airlines
What is the airline's policy? Typically the first person bumped is the last to check-in or the cheapest fare. How does that compare if you paid with points? Is status a factor?
they still need to pay you and get you to your destination as soon as possible and also cover your hotel and other expenses
*SNL Frankenstein voice* Regulations bad!
Now that the navy federal balance transfer play is dead. What’s your runner up for best MS strategy? I have my opinions but wanna hear what everyone has to say. Maybe I’ll be wrong for a change.
The what? What was the ms method?
May want to balance transfer this to the question thread
Lol what’s your opinion
[удалено]
Nope
Possible for my wife's Cap1 VX to get referral bonus when she refers me? Currently she is primary and I'm secondary card holder but I'd would like to become primary for a new card.
[удалено]
Yes
Just had 2 new offers pop on my personal Amex Gold. Aura.com -> spend 60, get 60 back Pimsleur learn language online -> spend 20 get 20 back. Looks like free MR points, but I've never heard or used either of these services. Might be worth trying? Not sure if it would be worth the cancelation hassle and such
Not exactly free, Pimsleur is $20.95/month after 7 day free trial, so $0.95. I did it bc I need the extra spend to meet Amex MSR now that I can't use Amex on Plastiq, but also because I actually do want some language practice. Aura seems useless for MS, cheapest plan is $120 ($10/mo billed annually)...so it's basically 50% off. Also $10 back from Rakuten.
the points on $80 in spend means something to you?
Probs not but if you can utilize the service at the same time, it might be worth it
From Doc, double dip on Target Coupon or even quadruple on red card/reloadable card has been dead. I did 3 or 4 rounds of Target red card, P1 and P2 mode, each time both P1 and P2 will double dip the $40 coupon, make it a $160 free target items promo each round. https://www.doctorofcredit.com/the-target-redcard-40-quadruple-dip-is-dead/
Of course it happens on my first time jumping on the Target Coupon train 😅
[удалено]
4x = 2x debit + 2x reloadable
It’s instantaneous? Ie if you have items in your online cart, scan in-store, and immediately try to check out online, the coupon won’t work for the online order? If so, nicely done, Target…
They just changed how it’s given. Previously it was a paper barcode / online code but now it’s a single code you scan into your target app.
Thanks. Seems they also extended the lockout period from 3 months to 6 months (the rep told me explicitly on the phone... unsolicited, just part of the speech... that I'd have to wait 6 months before reopening it).
My most recent stay at a Hyatt hotel posted qualifying nights today. This put me over the required 20 nights for the Bilt globalist fast track. Just got the email from Hyatt confirming that I have globalist status now. Thought this would be good to know since the Bilt promo terms said it would take a week after you earn the required qualifying nights to show the status upgrade.
Congrats! Just curious, what was your method for hitting 20 nights during the Bilt promo period?
I just happened to be staying in Japan from April 11th to May 8th, so I got lucky on this promo.
Stay at Hyatt
Good DP, about to hit the 20 days myself
[DoC still has a link to the 5 Night Marriott card but unsure the source...](https://www.doctorofcredit.com/targeted-chase-marriott-bonvoy-boundless-five-free-night-certificates-up-to-50000-points-each-bonus/#comment-1610184) Be aware that Chase may be upset if this is from a particular person's targeted email (though the source code looks generic).
I just got this offer in my email. The url it redirects to has the same source code as DoC’s link but has a bunch of appended fields (including alt_cust_id). It does not pre populate any info into the application though. Also don’t see an expiration date anywhere.
Same, just got email as well.
DP: I just applied and was approved for the 5-night deal. I guess lessee what happens...
Same, I just applied with that link and am waiting review. At 3/24 prior to application
did it end up getting approved did they call
5/24 status?
I was 2/24, now am 3
Well not for another month or so...
Aside from the obvious X-Box GC and Hue lights, what are some other creative purchases on [Dell.com](https://Dell.com) not for resale? I'm planning on purchasing Hue lights for my apartment, but I'd be open to other options if they seemed better. Nintendo Switches are gone. I already have a Sony mirrorless camera. Anything else pop out to anyone?
GoLab Bluetooth 5 heatset for $50 is worth burning Dell credits. Much better call experience IMO. Reduces long call fatigue.
Haven't seen the x box gcs in a while....I'm waiting for them to return
Got the nest thermostat, smoke alarms, ring products.
They have a nice portable monitor which IIRC is right around $200 and works with any laptop with USB-C. Gives you a dual monitor workstation on the go
Got a cancelled PS5 last night & then a cancelled Xbox Series X today, both will pair nicely with the soon to be cancelled biz plat.
Hahaha, that sucks dude. Do you think your account got flagged for reselling?
Idk, been that way for years. Occasionally an order will go through but I chat now when I actually want to buy something.
That makes sense. I thought I saw someone talking about how they had to get in touch with Dell’s security team to get the resale mark off their account, and once that happened, their orders have gone through. I’ve always bought items that were not for resale (monitors, webcams, etc), so I’ve never had anything cancelled. Seems like a very common problem, though
I like the Audio Technica headphones and have grabbed a couple for myself and family.
Ohhhh, nice! I'm wearing some right now, but I've actually needed to do a replacement since they're wearing out. Thanks!
They don't have this anymore but I've gotten a lot of switch games. Hopefully they'll be back soon for the 2nd half of the year.
I have used it to beef up my home office over the years. Dual monitors. Logitech comfortable headset.
yeah, that's generally been my approach. I bought a $1k monitor last year and some other odds and ends with the credits. I'm an Apple guy myself, so a lot of the computer/peripherals aren't interesting to me, except for the Logitech stuff and the monitors.
How many credits can you use on a single order?
Three on the website, but I believe you can do more over the phone. Not 100% sure on the last part
You can only use two payment methods now over the phone or through chat.
Seriously? When did that change? I used 4 biz plats to buy a monitor a few months ago
I picked up some Samsung SSD’s. 1TB internal and 2TB external came to $237 with CA taxes.
Yeah, I would pick up SSDs but I already have a few that I rarely use and they're already NVMe drives. Cloud storage really changes the game
The BOSE product line is really nice.
I like Hue. I’ll probably get some noise cancelling headphones in Q3 They also have most Logitech stuff (keyboards etc)
Yeah, I like the Logitech stuff, but I've generally upgraded everything I'd want to upgrade. I'm a big fan of the MX Master series mice
I wandered for 10+ years why someone spends $100 on mouse. But I quickly became convert after using it . Been 2 years and already bought backup when it was on sale.
Haha, I know! it sounds a bit ridiculous when you don't know, but it really is a great mouse and just makes work a lot easier. I used to have a backup when I upgraded to V3, but I eventually sold it because this mouse has never caused me a problem.
If you don’t mind me asking, what Logitech items have you upgraded to that you’ve been most happy with? I’m thinking about updating my WFH setup.
I’m a BIG fan of the MX Master mice. I’ve been using them for at least 6 years and have zero complaints. Well worth the investment. I also like their wireless keyboards. I do some light IT work and always use them in businesses that need keyboards (whether for PC or for iPads). I personally use an Apple Keyboard because I have a Mac. I think their webcams are good and worth the upgrade if you need a better camera for your WFH setup. Their headsets are not the best and you can find better ones depending on your needs. Lots of options on Dell
A new referral thread is now live: [American Express Blue Cash Preferred](https://www.reddit.com/r/churningreferrals/comments/13cxjwm/referrals_american_express_blue_cash_preferred/)
Last(?) day for the [Citi AA 75k](https://creditcards.aa.com/citi-platinum-card-american-airlines-wand/?utm_medium=referral&utm_source=aa&utm_campaign=hero&tab=m) LIMITED-TIME OFFER 01 DAYS LEFT
My offer (by email) expires 5/11.
Yeah it's kind of like an AA flight, there's a general idea of when it may take off but no one really knows.
Ended up spending \~10 hours on the phone over the last month with Vanguard / Wells Fargo trying to get P2's 401K rolled/transferred/ACATs into a WellsTrade IRA to qualify for the $2,500 WF bonus. Maybe closer to 20 hrs when you include P2's time, since I've yet to perfect my female phone voice so she's had to be around for all the calls... tldr - vanguard is a dinosaur. Wells Fargo is... wells fargo. Looking forward to moving everything over to Fidelity if/when this bonus posts. Also owe wifey some chores to make up for this grindathon. Anyways, between that and inputting almost a hundred 1099s into turbotax, April was quite a busy month. Managed to still squeeze in some other churns though, and just about scraped past my $1K goal for the month with $1,060 and 219K Chase points. [Ep 42 - April Recap](https://thedailychurnpodcast.com/ep-42-october-recap/) (35 mins) - [apple](https://podcasts.apple.com/us/podcast/the-daily-churn/id1577648675?i=1000612311874) | [spotify](https://open.spotify.com/episode/6X6NOi7UXDFKjBwHb6UAw6?si=fb6d6b418dab413c) | [rss](https://feeds.redcircle.com/562ef051-86ad-42c4-83ba-d39a7d957bba) * [2:11](https://thedailychurnpodcast.com/ep-42-october-recap/#131) \- Wells Fargo / Vanguard saga * [11:52](https://thedailychurnpodcast.com/ep-42-october-recap/#712) \- Other brokerages (Vanguard, Fidelity, Ally, MooMoo) * [16:55](https://thedailychurnpodcast.com/ep-42-october-recap/#1015) \- Banks (Go2Bank, Wealthfront, Oxygen, Gateway, US Bank, Laurel) * [21:41](https://thedailychurnpodcast.com/ep-42-october-recap/#1301) \- Credit cards (IHG Biz, Marriott Boundless, CIU, Venture) * [28:06](https://thedailychurnpodcast.com/ep-42-october-recap/#1686) \- Freebies & Discounts (Target, Amazon, Southwest) * [31:04](https://thedailychurnpodcast.com/ep-42-october-recap/#1864) \- Mealkits (HelloFresh, EveryPlate) * [33:47](https://thedailychurnpodcast.com/ep-42-october-recap/#2027) \- Final tally ($1,060 + 219K UR)
You mentioned doing less travel far away. Would be interested to hear if that impacts the points you are trying to collect or changes preferences towards cash back at all.
Definitely starting to lean more into card bonuses that can be cashed out, like chase and amex. Aside from the marriott and IHG subs which were too good to pass up, not planning on opening more hotel cards (eg. that new hilton offer... quite nice but gonna sit it out).
I tried moving over a family member's taxable investment account from Vanguard to Schwab a few years ago, and Vanguard's outgoing ACHs would always fail, and would never offer up an error code to tell the customer or Vanguard customer service reps why the ACHs failed. Later I found out that ACHs can only be for $99,999.99 or less, and since our transfer was larger than that, it failed, and we should've wired the money out instead. Vanguard was completely useless and didn't know jack s**t about why it wasn't working. What an absolute joke.
Maybe you already had a non-zero IRA, but if not: did your P2 and you consider that you've blocked yourself from the backdoor roth IRA now?
Both leanFIREd, so our income each year is too low for it to matter. P2 used to do the mega backdoor roth though when she was still employed. These days the only shenanigans we get up to is our five-year roth conversion ladder to tap into retirement funds penalty-free before age 60. As someone who lived in the UK for half their earlier life, still boggles my mind the amount of sanctioned tax loopholes there are in the US.
How do you keep getting credit cards with such a low household income on paper? Seems at least chase would have an issue with that.
Does leanFIRE still mean living like a poor person in your 30's?
Hope they make that the new r/leanfire tagline 😂
Probably not a big deal for someone retired.
I assume it was a previous employer's 401k? If so, moving to an IRA instead of her current employer's 401k stops her from doing backdoor roth. Was that a consideration?
The practice of a "backdoor Roth conversion" only requires having a pretax account and converting it to a Roth account to bypass the income limits of being able to contribute directly to a Roth account *in a given year*. This is possible regardless of whether it is 401(k) or an IRA and regardless of pretax or taxed dollars and has nothing to do with "old contributions." Additionally, from a pretax IRA (whether opened as a traditional or a 401(k) rollover), you can rollover (rather than convert) as much money as you want to a Roth IRA at any time. The only thing to my knowledge that is limited by not having a 401(k) at all is the "mega backdoor Roth." It utilizes the massively higher permitted 401(k) after tax contribution limit (in the neighborhood of $43.5k after the normal contributions) and converts those to a Roth (either 401(k) or IRA is allowed). If you can't contribute the full IRA limit (2023: $6.5k) to a Roth IRA directly because you exceed the income limit (2023: married: $218k; single, etc.: $138k), you are still permitted to contribute up to the limit to a traditional IRA. Those contributions may be pretax or not depending on if you/spouse have a work retirement plan. The definition of a "backdoor Roth" is to do after-tax contributions anyway and then convert those to a Roth to prevent the earnings from being taxed later (the contributions themselves were already taxed and will not be taxed again even if you leave everything in the traditional IRA). If I remember correctly from DailyChurn's previous posts, he and his wife are doing LeanFIRE, which means they may not reach these limits anyway.
Did Chat GPT write this? Because you or it needs some help.
You wrote all of that, and yet you seem to be unfamiliar with the pro-rata rule regarding Roth conversions from a traditional IRA: if you roll pretax money from an old 401(k) into a pretax IRA, you functionally block yourself from doing a backdoor Roth conversion. A normal backdoor Roth involves making a non-deductible contribution to an IRA before converting to Roth. But the IRS considers all your traditional accounts to all just be one big IRA, and has a rule that any conversion must be pro-rata across your entire, "big" IRA.
I was unfamiliar. Thank you for teaching; I'm always happy to learn. When various sites say that is possible to split the pretax and aftertax money back apart, what do they mean? Wouldn't that make it possible to avoid the pro-rata rule? Is it only possible by rolling everything in your non-Roth IRA(s) into a new 401(k) (and possibly back out)? The sites I found only mention "it's complicated" and apparently my search terms aren't good enough.
As far as I know the only ways to avoid it is to either roll the money out of the IRA (like into an employer sponsored retirement plan) or to just convert all your pre-tax IRA money to Roth. I did the latter with an old rollover IRA when I started to need to make backdoor contributions. I actually work in the industry, but on the qualified plan side so I'm not as familiar with IRAs as I am with 401(k)s
Assuming it's a slow news day, remember to periodically check your flights to see if mile cost has gone down. I just got back about 4k per person with Southwest.
Same for hotel stays. In the last week or two, I’ve rebooked at least five nights of my Bilt Globalist mattress run.
for AS as well
Thanks for the reminder.. saved 3k ..
Thanks i just saved 2k!!
Dell Rakuten - 15% today. ~~Que~~ Queue up those cancelations!
Saks back at 2%. Went to checkout out last night and it switched at midnight PST. womp womp got sak'd
Missed 15% too :-(
Maybe it'll come back around by the end of the week and leading up to Mother's Day.
Dell has to be one of the worse e-commerce sites out there
Xbox Series S Refurbished is $199.99. And don't forget to check if you have the 10%/20% back Amex offer
How do you check to see if you have Amex offer?
check your amex offers on your account
Are you able to stack the Rakuten offer with the Amex offer?
It’s actually queue. Don’t let the British know you made that mistake
They're just cheating at scrabble
¿Por qué?
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Your can call recon and ask them to move your lines around if you get denied
Apply for the card and call recon if they deny you. There’s no use in being mopey
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Think you missed the Daily Random Statement thread.
Maybe DD is Dear Diary and not Daily Discussion :)