Edmunds Members - Cars and Conversations

qbrozen · March 4

@jmonroe1 said:
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If he chops off the rear he’ll lose the speed stickers that were on the rear side glass. No ones going to believe it’s a fast truck without those speed stickers. Bad idea.

jmonroe

The mighty Aztec scoffs at your negativity.

ab348 · March 4

Speaking of ugly, in traffic this morning a surprisingly ratty-looking Cybertruck pulled up next to me at a traffic light. Matte black (a wrap?) with NY plates. Long way to drive in one of those.

corvette · March 4

I don't get "points people," either... Full disclosure: my hotel card is a points-only card (the others have points, but they're redeemable for statement credits, so I worry myself 0% with how the points work, because know the cash-equivalent percentages I'll be receiving off the top of my head).

For the hotel card, it's slightly more complicated, but basically:
1. Charge at least $5,000 per annual term so that you qualify for the annual bonus points.
2. Beyond that, charge all hotel stays at that brand hotel to get bonus points.
3. Points get put in your hotel rewards account monthly; redeem those and the points you've earned from other activities for free/discounted hotel stays.

corvette · March 4

I'm also one to take advantage of free money in the form of account opening bonuses, so I currently have two checking accounts (primary plus one where I'm earning a bonus) and will probably open a savings account to take advantage of an offer, then close it.

Also, with tax-advantaged accounts, it's easy to get trapped into keeping older ones open. I have a Solo 401k that I no longer contribute to because I'm no longer self-employed, but I can't do an in-kind transfer to roll it over to an IRA, and it's enough money that I don't want to deal with requesting a paper check and having it out of the market for a few days or weeks. Same with an old HSA. So, I have a few duplicates.

When my company was bought out in 2021, the old payroll/benefits provider kicked everyone out of the 401k plan (it would go into a money market account with no investment options if I did nothing), so I had no realistic choice but to get a paper check. Luckily, it was overnighted to me, and I was able to use mobile deposit to put it in my IRA.

oldfarmer50 · March 4

“ I'm also one to take advantage of free money in the form of account opening bonuses, so I currently have two checking accounts (primary plus one where I'm earning a bonus) and will probably open a savings account to take advantage of an offer, then close it.”

Even I have taken advantage of those bribes to open an account. I got $400 from Key Bank to open a no minimum checking account with direct deposit of my pension. I closed it after they tried to change the terms of the account to a $500 minimum.

Hotel, airline and other travel cards are of no use since I rarely travel anymore. Most other forms of rewards especially tied to credit card use hold no appeal especially when they sell your info to spammers. I use cash and don’t have to worry about marketers or the CIA tracking my purchases.

Michaell · March 4

oldfarmer50 said:
“ I'm also one to take advantage of free money in the form of account opening bonuses, so I currently have two checking accounts (primary plus one where I'm earning a bonus) and will probably open a savings account to take advantage of an offer, then close it.”

Even I have taken advantage of those bribes to open an account. I got $400 from Key Bank to open a no minimum checking account with direct deposit of my pension. I closed it after they tried to change the terms of the account to a $500 minimum.

Hotel, airline and other travel cards are of no use since I rarely travel anymore. Most other forms of rewards especially tied to credit card use hold no appeal especially when they sell your info to spammers. I use cash and don’t have to worry about marketers or the CIA tracking my purchases.

And how do you get your cash? You don’t think the government knows when you make a withdrawal, if they even care?

stickguy · March 4

when I closed ours out, I think it was 5 or 6 total between the 2 of us. And all of them required paper checks so yes, I missed about a week being invested (at this point no clue if that worked to my favor or not!) Thankfully Vanguard would take even a large check via mobile deposit. That was nerve-racking.

suydam · March 4

We travel more now than we used to because we have kids and grandkids that live pretty far. And we like to see our friends too in other parts of the state. I’m all about Hotel Honors benefits and Travel rewards cards. If you do travel often they make a real difference.

oldfarmer50 · March 5

Michaell said:

oldfarmer50 said:
“ I'm also one to take advantage of free money in the form of account opening bonuses, so I currently have two checking accounts (primary plus one where I'm earning a bonus) and will probably open a savings account to take advantage of an offer, then close it.”

Even I have taken advantage of those bribes to open an account. I got $400 from Key Bank to open a no minimum checking account with direct deposit of my pension. I closed it after they tried to change the terms of the account to a $500 minimum.

Hotel, airline and other travel cards are of no use since I rarely travel anymore. Most other forms of rewards especially tied to credit card use hold no appeal especially when they sell your info to spammers. I use cash and don’t have to worry about marketers or the CIA tracking my purchases.
And how do you get your cash? You don’t think the government knows when you make a withdrawal, if they even care?

I’m sure they know that I cash my paycheck or take my social security out in cash as soon as it gets DD but after that it’s harder to track any specific spending. I don’t really think the CIA is following me around but if they are I don’t want to make it easier for them. The marketers, on the other hand ARE tracking your purchases and selling your data to the highest bidder. I chose not to make it easy for them either.

Using cash also self limits your spending. I see people use credit cards for everything down to a cup of coffee. When you just swipe you can overspend without knowing it.

venture · March 5

suydam said:
We travel more now than we used to because we have kids and grandkids that live pretty far. And we like to see our friends too in other parts of the state. I’m all about Hotel Honors benefits and Travel rewards cards. If you do travel often they make a real difference.

I rarely travel any more. My cards are all cash back cards now. Is it better to get travel points instead of money?

laurasdada · March 5

I charge (almost) everything to get cash back and I don't track my spending. I review my checkbook, if I have checks I must have money to pay the bills.

stickguy · March 5

That’s definitely a unique way to look at it.

My budget method is looking at the balance in the checking account. If it’s higher than the month before I can buy something.

suydam · March 5

venture said:

suydam said:
We travel more now than we used to because we have kids and grandkids that live pretty far. And we like to see our friends too in other parts of the state. I’m all about Hotel Honors benefits and Travel rewards cards. If you do travel often they make a real difference.
I rarely travel any more. My cards are all cash back cards now. Is it better to get travel points instead of money?

Not if you don’t travel.
I also charge most everything to get the points (or cash back if that’s your system). I keep pretty good track of my spending too.

qbrozen · March 5

All cash back for us. I’ve yet to see any points that give me more value than cash. Meaning, when I’ve checked what the points could “buy,” it is typically a higher “cost” than if I just took the cash and bought the item myself.

jmonroe1 · March 5

oldfarmer50 said:

Michaell said:

oldfarmer50 said:
“ I'm also one to take advantage of free money in the form of account opening bonuses, so I currently have two checking accounts (primary plus one where I'm earning a bonus) and will probably open a savings account to take advantage of an offer, then close it.”

Even I have taken advantage of those bribes to open an account. I got $400 from Key Bank to open a no minimum checking account with direct deposit of my pension. I closed it after they tried to change the terms of the account to a $500 minimum.

Hotel, airline and other travel cards are of no use since I rarely travel anymore. Most other forms of rewards especially tied to credit card use hold no appeal especially when they sell your info to spammers. I use cash and don’t have to worry about marketers or the CIA tracking my purchases.
And how do you get your cash? You don’t think the government knows when you make a withdrawal, if they even care?
I’m sure they know that I cash my paycheck or take my social security out in cash as soon as it gets DD but after that it’s harder to track any specific spending. I don’t really think the CIA is following me around but if they are I don’t want to make it easier for them. The marketers, on the other hand ARE tracking your purchases and selling your data to the highest bidder. I chose not to make it easy for them either.

Using cash also self limits your spending. I see people use credit cards for everything down to a cup of coffee. When you just swipe you can overspend without knowing it.

————————————————
I can’t remember the last time I paid cash for anything. As for using a credit card to by a coffee, from what I hear coffee costs today, I can understand why some folks have to use their card for that.

Just last week while I was at the bank to make a deposit, I decided to sit down and ask a few questions. With all the scamming going on I wanted to freeze my checking account so that if money is withdrawn, it has to be done in person. I was told as long as I paid any bills by check (and I do) they couldn’t do that. I should have asked the same question about my savings account but I didn’t since that account is essentially a trap door with money only going in and rarely coming out. The few times I have taken money out, like when I’m doing some house flipping maneuvering, I always go to the bank for that.

I’m thinking about going to another bank and asking the same question but I’m guessing I’ll hear the same thing.

jmonroe

corvette · March 5

I ordered one of the new MacBook Airs (MacBooks Air?) that was released today to replace my early 2020 model (the last model with an Intel CPU). The one previous to that lasted a decent bit longer than five years, but the battery was in very poor condition.

This one has been fairly annoying from the start. It makes random popping noises that sound like static from the speakers. I sent it back to Apple twice under warranty to try to get it repaired, with no change. I've managed to mostly tune that out, over the years. More recently, it's struggled to smoothly play 4K YouTube videos. I figure that, with the transition from Intel to Apple Silicon, although the Intel models are technically still supported, Apple and other software developers are not spending much effort optimizing releases for Intel models.

Apple is giving me $280 trade-in credit for the old one and I'll pay $59.91 per month for 12 months with 0% financing on my Apple Card.

roadburner · March 5

I use the free Ramsey budget app EveryDollar. It's worked great for my wife and I for years.

abacomike · March 5

When I had my double by-pass heart surgery last June, I had 2 $20 dollar bills and 2 $1.00 bills in my wallet. Today, I have those same 4 bills in my wallet. I pay everything by credit card or direct withdrawal from checking. My pension and SS are direct deposits as are income from investment CD’s.

venture · March 5

I'm finding I'm using my phone more and more to pay with Google Pay. I still carry cash but use it less.
Bills are all paid online through my credit union.
My debit card, that I use at an ATM to get cash, is locked. I can unlock/lock it using my phone.

sda · March 5

@abacomike said:
When I had my double by-pass heart surgery last June, I had 2 $20 dollar bills and 2 $1.00 bills in my wallet. Today, I have those same 4 bills in my wallet. I pay everything by credit card or direct withdrawal from checking. My pension and SS are direct deposits as are income from investment CD’s.

Hope you recovered nicely and are doing well.

suydam · March 5

I hardly ever go into a bank anymore. I do almost everything online

laurasdada · March 5

Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.

corvette · March 5

Can you roll the lump sum over to another qualified plan? Would the annuity give you more income vs. investing the lump sum and planning on a 4% withdrawal rate?

stickguy · March 5

For a small amount probably the lump sum since you aren’t going to be living off of it! Whether you can be trusted with it is up to you.

kyfdx · March 5

laurasdada said:
Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.

If you can roll the lump sum into an IRA with no tax consequences, I’d probably do that. But, diversifying your retirement income can be good, too. If you have large IRA/401K balances already, then an annuity can be a good hedge. Especially, if it allows you to defer your SS benefit for longer.

Can confirm that buying Porsches is not a great retirement strategy. 👀

graphicguy · March 5

venture said:
This guy's Aztek wasn't ugly enough, so he fixed it.

Actually, I think he made it look better.

graphicguy · March 5

driver100 said:

venture said:
This guy's Aztek wasn't ugly enough, so he fixed it.

Then they ask the question...is a Cybertruck a clone from the Aztek?

The one big difference, the Aztec is probably more reliable.

sda · March 5

laurasdada said:
Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.

Take the check.

oldfarmer50 · March 5

laurasdada said:
Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.

With your addiction I wouldn’t take the lump sum but then any pension payment could be seen as a monthly car payment.😂

abacomike · March 5

@sda said:

@abacomike said:
When I had my double by-pass heart surgery last June, I had 2 $20 dollar bills and 2 $1.00 bills in my wallet. Today, I have those same 4 bills in my wallet. I pay everything by credit card or direct withdrawal from checking. My pension and SS are direct deposits as are income from investment CD’s.

Hope you recovered nicely and are doing well.

Thanks, sda. It’s tough every day but I force myself to get up out of bed and go walking with my friends at the mall. I use an upright walker due to my bad back - but one of my friends puts the walker in my back seat for me - it’s too heavy for me to lift and is too big for the trunk.

explorerx4 · March 5

@laurasdad,
Take your wife with you to get the check. You won't end up with a Porsche, although I have no idea where the money will end up.

corvette · March 5

graphicguy said:
The one big difference, the Aztec is probably more reliable.

Like they say, a GM car will run bad longer than most cars will run good.

jmonroe1 · March 5

kyfdx said:

laurasdada said:
Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.
If you can roll the lump sum into an IRA with no tax consequences, I’d probably do that. But, diversifying your retirement income can be good, too. If you have large IRA/401K balances already, then an annuity can be a good hedge. Especially, if it allows you to defer your SS benefit for longer.

Can confirm that buying Porsches is not a great retirement strategy. 👀

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But, it is a fun way to do it.

jmonroe

jmonroe1 · March 5

sda said:

laurasdada said:
Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.
Take the check.

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Take the Porche maybe even 2. Ask @kyfdx.

jmonroe

stickguy · March 5

kyfdx said:

laurasdada said:
Big decision for retirement: Pension, small (very) monthly payment (annuity) or lump sum? Lump sum was much higher than I anticipated, but they hand me that check and the Porsche dealer is on the way home. I can't be trusted.
If you can roll the lump sum into an IRA with no tax consequences, I’d probably do that. But, diversifying your retirement income can be good, too. If you have large IRA/401K balances already, then an annuity can be a good hedge. Especially, if it allows you to defer your SS benefit for longer.

Can confirm that buying Porsches is not a great retirement strategy. 👀

don't tell my wife that if you run into her.

stickguy · March 5

for the pension questions, definitely only do it if you can roll it into an IRA, unless you want to take the full tax hit now. Whether it is worth more in the long run depends on how the investments do and of course, how long you would be getting the payments on the annuity!

tjc78 · March 6

@jmonroe
Did I read that right? You pay bills with a check?

You actually get paper bills in the mail?

jmonroe1 · March 6

tjc78 said:
@jmonroe

Did I read that right? You pay bills with a check?

You actually get paper bills in the mail?

————————————————
Yep, I really do. When you’re older you’re old school. Plus, it gives me a chance to maintain the penmanship my 5th grade teacher worked so hard on me for 2 years to learn.

jmonroe

stickguy · March 6

We still get a few paper bills in the mail. But pay everything possible through the banks bill pay app.

ab348 · March 6

tjc78 said:
@jmonroe

Did I read that right? You pay bills with a check?

You actually get paper bills in the mail?

The other day I had to write a cheque to one of my kitchen contractors because a bunch of invoices came all at once and the bank limits how many e-transfers you can do in a day. I think that was the first cheque I’ve written in 10 years or more. The chequebook still has personalized cheques with a “19” prefix on them.

tjc78 · March 6

@ab348 said:
The other day I had to write a cheque to one of my kitchen contractors because a bunch of invoices came all at once and the bank limits how many e-transfers you can do in a day. I think that was the first cheque I’ve written in 10 years or more. The chequebook still has personalized cheques with a “19” prefix on them.

Funny enough … our cleaning service always took Venmo and all of sudden can’t anymore, so have to write her a check or just remember to grab cash

laurasdada · March 6

Thanks for all the advice, folks.
My 401k and IRA were funded enough prior to the most recent events...

But I'll take the annuity, only 12.5 years to break even. Nice to have monthly income, SS (assuming no massive "fraud" is discovered) + pension.

stickguy · March 6

I saw someplace recently that the IRS was changing reporting rules for money payment services like Venmo. IIRC currently one they move $22,000 to an individual they have to cut a tax form (like a W2) since the Feds assume that you must be using it to get paid business revenue. The rule was supposed to change to $6,000. We can do that with our kids just settling up on stuff we are sharing with them like a vacation house.

xwesx · March 6

PITA for the rest of us, but people are clearly using the platform and trying to dodge reporting income. Like, possibly, somebody's housekeeper. But, that's between them and the IRS. Sadly, the rest of us end up paying for it by having to jump through extra hoops!

xwesx · March 6

xwesx said:
PITA for the rest of us, but people are clearly using the platform and trying to dodge reporting income. Like, possibly, somebody's housekeeper. But, that's between them and the IRS. Sadly, the rest of us end up paying for it by having to jump through extra hoops!

I am providing some private financing at the moment, and I will need to report interest income on that this year. While I don't think any payments are through Venmo, the mechanism doesn't really matter.... all income is reportable.

EDIT: Sorry! I meant to edit the last post, not reply to it...

stickguy · March 6

that's why cash is still king. unless you are the 1 person that will still report that!

venture · March 6

stickguy said:
We still get a few paper bills in the mail. But pay everything possible through the banks bill pay app.

I still get a bill in the mail from my natural gas company. I can't get them to stop!

It usually arrives 3 or 4 days after I paid it online.

explorerx4 · March 6

I like getting paper bills, it provides a paper trail.
Found this on our front door. It's a thing around here.

oldfarmer50 · March 6

tjc78 said:

@ab348 said:

The other day I had to write a cheque to one of my kitchen contractors because a bunch of invoices came all at once and the bank limits how many e-transfers you can do in a day. I think that was the first cheque I’ve written in 10 years or more. The chequebook still has personalized cheques with a “19” prefix on them.

Funny enough … our cleaning service always took Venmo and all of sudden can’t anymore, so have to write her a check or just remember to grab cash

That was because the IRS was going to make you send a 1099 to anybody who you paid $600 through those systems. I think they canceled that but obviously some people are still afraid.

BTW, I also get paper bills and pay by check. I even get a paper paycheck.

suydam · March 6

venture said:

stickguy said:
We still get a few paper bills in the mail. But pay everything possible through the banks bill pay app.

I still get a bill in the mail from my natural gas company. I can't get them to stop!

It usually arrives 3 or 4 days after I paid it online.

Same for us with the water bill.

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