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Re: deferred comp plans

2. If I leave before my income is low, it seems my contributions and gains will be taxed at my marginal rate. In the case of the capital gains, this would be significantly higher than the rate I would have paid in a taxable account. I haven't done the math yet. It is sometimes hard to grasp (I know...
by HopeToGolf
Sun Apr 13, 2014 3:52 am
 
Forum: Personal Finance (Not Investing)
Topic: deferred comp plans
Replies: 20
Views: 1430

Re: deferred comp plans

I am also evaluating whether or not to use my deferred comp plan. Here are my concerns with our structure: 1. Unless you are 55 when you leave the company, the account balance is paid as a lump sum. This could be a wash from a tax standpoint depending on the size of the account and the marginal rate...
by HopeToGolf
Sat Apr 12, 2014 6:31 am
 
Forum: Personal Finance (Not Investing)
Topic: deferred comp plans
Replies: 20
Views: 1430

Re: Do I take the separation package offer?

This decision is easy, try to negotiate more and take the final offer and leave. You worked at the company for XX number of years. If you have not contributed what you wanted to in order to leave the impression you desire, working an extra year in a downsized company is unlikely to give you the oppo...
by HopeToGolf
Tue Apr 08, 2014 5:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Do I take the separation package offer?
Replies: 50
Views: 4644

Re: How am I doing - stress check UPDATED with INFO

Take another look at your expenses and how you spent your money in the last 3 years. Here is one way to look at it (very rough)... Income: 1.5 million (500k x 3) Taxes: 600k (40%) Cash: 900k Expenses: 225k (call it 75k per year) Remodel: 250k Remaining cash: 425k Can you account for 425k? The tax es...
by HopeToGolf
Sat Apr 05, 2014 5:12 am
 
Forum: Investing - Help with Personal Investments
Topic: How am I doing - stress check UPDATED with INFO
Replies: 14
Views: 1596

Re: Counting equity in house in calculating retirement withd

There is no "right" answer. If you want to include the impact of owning a home on withdrawal amounts, using FireCalc, add the variable where you get an inflow of value (use the inflated value of the home sale after taxes and fees). You would need to subsequently add a recurring expense for...
by HopeToGolf
Sat Mar 22, 2014 3:52 am
 
Forum: Investing - Theory, News & General
Topic: Counting equity in house in calculating retirement withdrawa
Replies: 41
Views: 2104

Re: Combining Backdoor Roth With After-Tax 401K Conversion

When calculating the amount you will contribute, do not forget employer contributions also count against the $52K max.
by HopeToGolf
Sat Mar 15, 2014 3:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Combining Backdoor Roth With After-Tax 401K Conversion
Replies: 9
Views: 565

Re: 529, max 529, mortgage payoff, or taxable

If you have access to the backdoor Roth using after-tax contributions and in-service withdrawals, I would max that. It would give the most flexibility in terms if emergencies, withdrawals for tuition and retirement. If you have money left over, the 529 makes sense too. I would leave the mortgage alo...
by HopeToGolf
Mon Mar 10, 2014 4:51 am
 
Forum: Personal Finance (Not Investing)
Topic: 529, max 529, mortgage payoff, or taxable
Replies: 6
Views: 644

Re: Joint or Separate Accounts? - Married Couples

His, Hers and Ours Separate accounts - 401K, Roth, "Allowance" Checking (we each get an allowance that can be spent how we choose) Combined - Taxable investments, savings, checking, mortgage, etc. Essentially everything goes into the joint accounts except the allowance money. One caveat, I...
by HopeToGolf
Sat Mar 08, 2014 8:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Joint or Separate Accounts? - Married Couples
Replies: 82
Views: 3370

Re: 529 contributions and future tuition costs

ERMD Thanks for sharing. I ran a similar analysis and came up with similar results for education starting roughly 10 years from now. Can you share the 2013/2014 cost to attend for each class of university in your model? I think it would be helpful to give the readers a sense of today's cost. Thanks.
by HopeToGolf
Mon Mar 03, 2014 5:20 am
 
Forum: Investing - Help with Personal Investments
Topic: 529 contributions and future tuition costs
Replies: 46
Views: 2270

Re: Japan, 1989

Bpp Thank you for posting this. While I do not know enough about the U.S. economy past, present and future compared to that of Japan, this type of post is helpful for me to keep in mind anytime I think about my international equity allocation versus being 100% U.S. In other words, diversification wo...
by HopeToGolf
Sun Mar 02, 2014 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: Japan, 1989
Replies: 106
Views: 22355

Re: Skip IRA for 1 year to buy engagement ring

1) Figure out if you and your girlfriend are financially compatible...talk about finances and the future. What are her dreams, desires, expectations (rich and famous, frugal, SAHM, rent for a while or new big house, etc.) My wife and I attended group religious classes before we got married and when ...
by HopeToGolf
Sat Feb 22, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Skip IRA for 1 year to buy engagement ring
Replies: 152
Views: 7334

Re: Wanting to know if this financial situation is feasible

zippy69- To clearly answer the question in the original post, the $2.5MM (which btw, you will not get after taxes so have your husband check the math) is probably not enough to live on for the rest of your life with the lifestyle you may expect ($500K house and what goes with it mentally). You menti...
by HopeToGolf
Wed Feb 19, 2014 1:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wanting to know if this financial situation is feasible
Replies: 73
Views: 4961

Re: Dual Income Family Emergency Fund Help

When we could not afford to do everything (huge emergency fund and max retirement) we maxed our retirement and savings. Learn the withdrawal rules and fund transfer processes of your favorite retirement and savings vehicles and use them for your emergency fund before stockpiling cash. We maxed our R...
by HopeToGolf
Sun Feb 16, 2014 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Dual Income Family Emergency Fund Help
Replies: 11
Views: 1294

Re: $10+ M, age 49, seeking wisdom regarding retirement

What is your exit plan for your business? If your plan is to walk and let it die, is it possible to hire someone to replace you and run the business? You can then collect part of the profit and "work" differently as a manager/owner albeit a partially retired one. Of course, a better idea m...
by HopeToGolf
Fri Feb 07, 2014 6:48 am
 
Forum: Personal Finance (Not Investing)
Topic: $10+ M, age 49, seeking wisdom regarding retirement
Replies: 58
Views: 7106

Re: 401(k) In-Plan Roth Conversion of After-Tax Money

I now understand that I can roll over my aftertax 401k contributions into my Roth IRA as long as I don't exceed any rollover plan limit. Theoretically that could be as much as 52,000. Instead of doing a taxable conversion of the aftertax 401k growth, how about just leaving it in the after tax plan?...
by HopeToGolf
Mon Jan 20, 2014 7:10 am
 
Forum: Investing - Help with Personal Investments
Topic: 401(k) In-Plan Roth Conversion of After-Tax Money
Replies: 19
Views: 1284

Re: Affording stay at home parent

Another option to consider is having your wife find a company with a flexible work policy. Maybe she can get a job that will allow her to work a schedule that gets her home by the time school is out.
by HopeToGolf
Mon Jan 20, 2014 6:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Affording stay at home parent
Replies: 74
Views: 7080

Re: dramatically increase 529 savings?

Hi, we've saved enough money to fully fund our 3 kids college educations. One is a college freshman, one a hs junior and the youngest is a hs freshman. I currently have about $50k/child in the NY 529 plan. Thinking maybe I should move $50k per child into the 529 plan so it can grow tax free? though...
by HopeToGolf
Mon Jan 20, 2014 12:13 am
 
Forum: Investing - Help with Personal Investments
Topic: dramatically increase 529 savings?
Replies: 6
Views: 982

Re: 401(k) In-Plan Roth Conversion of After-Tax Money

The plan seems sound. I've done this for two years in a row and now into my third year with this tactic.
by HopeToGolf
Sun Jan 19, 2014 10:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401(k) In-Plan Roth Conversion of After-Tax Money
Replies: 19
Views: 1284

Re: Creating a Budget

I used Quicken to track all my expenses and looked at inflows and outflows and determined if I could reach my financial goals. I tweaked and adjusted the money I spent on various items based on what "felt" right and what was "needed." With Mint and other sites out there, if you c...
by HopeToGolf
Sun Jan 19, 2014 7:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Creating a Budget
Replies: 38
Views: 2153

Re: Do you invest in a taxable account?

We max our tax advantaged accounts and have a taxable account. However, even before we started maximizing tax deferred we had a taxable account which was used for medium/long term savings (car, house down payment, etc.). What we put into that account many Bogleheads would have held in cash/CDs.
by HopeToGolf
Sat Jan 11, 2014 8:56 am
 
Forum: Investing - Theory, News & General
Topic: Do you invest in a taxable account?
Replies: 111
Views: 7197

Re: Official 2014 IRA is done. Sign-up

I like the feeling of being "done." In this case, there is no known advantage to waiting. The I-bonds are a slightly different story...in that case, I made the purchase but I could try to anticipate inflation and a higher fixed rate in May but frankly who the heck knows what will happen an...
by HopeToGolf
Wed Jan 01, 2014 9:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Official 2014 IRA is done. Sign-up
Replies: 47
Views: 2727

Re: I-Bonds role in a portfolio?

I've always been curious to those that regularly invest in I-bonds if they carry a mortgage or not. I bought 10k I-bonds last year, but am thinking I may put that 10k towards our mortgage this year. Maybe an every other year sort of thing to hedge my bets. My mortgage rate is 2.75% and I buy I-Bond...
by HopeToGolf
Wed Jan 01, 2014 8:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: I-Bonds role in a portfolio?
Replies: 37
Views: 3267

Re: Things to do in January?

Contribute maximum to the Traditional IRA and use the backdoor into the Roth IRA
Buy I-Bonds
Start saving for the tax bill
by HopeToGolf
Wed Jan 01, 2014 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: Things to do in January?
Replies: 27
Views: 3171

Re: Seeking Advice on College, Retirement and Tactics

I agree on the suggestion to use FireCalc it is pretty user friendly and allows for many variables. I have not run the math but I would think you can easily retire in 2-3 years. I am estimating since I've used similar numbers in the past to plan. Once you bake in SS and spousal SS coming in and redu...
by HopeToGolf
Tue Dec 31, 2013 9:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice on College, Retirement and Tactics
Replies: 5
Views: 515

Re: College savings for a high-income household

Yes fund the 529. If you do really well and do not need the money, the worst case is you keep it as part if your estate and it gets passed to your kids and used as a college fund for your grand kids or great grand kids. While the 529 for most people does not provide a life changing tax benefit, I th...
by HopeToGolf
Tue Dec 31, 2013 7:49 am
 
Forum: Investing - Help with Personal Investments
Topic: College savings for a high-income household
Replies: 46
Views: 4471

Re: Do you ever feel you are being too frugal?

For us it is about being mindful and intentional with our choices. For the OP, I think you know the path that you should explore next; and remember that if whatever you choose doesn't fit quite right for you then you can modify your behaviors going forward. Experiment a bit. Our choices are not nec...
by HopeToGolf
Tue Dec 31, 2013 6:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you ever feel you are being too frugal?
Replies: 65
Views: 5091

Re: Robbing the emergency fund to start a Roth...?

Using the Roth instead of building emergency funds is something we did as we were accelerating our savings (maxing out on tax deferred contributions) and dealing with large expenses. For us, the question was what emergencies were we contemplating. Replacing a water heater was an "emergency"...
by HopeToGolf
Sun Dec 29, 2013 9:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Robbing the emergency fund to start a Roth...?
Replies: 23
Views: 2304

Re: 'Play' Money

I understand that it's a little hard to answer a hostile question, and since I don't "get" the concept of "play" money I can't conceal a certain degree of disapproval, but I really wish that the people who do use "play" money would speak to the nature of the "fun&...
by HopeToGolf
Sat Dec 28, 2013 12:53 pm
 
Forum: Investing - Theory, News & General
Topic: 'Play' Money
Replies: 95
Views: 6217

Re: 'Play' Money

I do. Part of my "allowance" is intended to be used for hobbies, fun money, entertainment, etc. Even with this I LBYM and have more than I need. Once or twice a year the extra goes into the market. The funny thing is most of it is in a broad market ETF. Yes I consider it play money but it ...
by HopeToGolf
Sat Dec 28, 2013 10:08 am
 
Forum: Investing - Theory, News & General
Topic: 'Play' Money
Replies: 95
Views: 6217

Re: How to have a shared credit card and individual cards?

I applied for a card and added my wife as an authorized user. It is not a "joint" card per se but generally the only charges that are made on the card are joint expenses. Separately, we each have our own cards to which we charge our allowance expenses (hobbies, hair salon, etc.) and pay it...
by HopeToGolf
Thu Dec 26, 2013 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: How to have a shared credit card and individual cards?
Replies: 9
Views: 558

Re: Where in New Jersey to buy home with NYC commute, childr

Look into West Windsor/Princeton Junction. Very good schools and if you use express trains, you can get to Penn Station in less than 1 hour. There is a multi-year waiting list for reserved parking spaces at Princeton Junction. Unless you live within walking distance of the station (likely to be ver...
by HopeToGolf
Mon Dec 23, 2013 11:11 pm
 
Forum: Personal Consumer Issues
Topic: Where in New Jersey to buy home with NYC commute, children?
Replies: 66
Views: 3720

Re: Can we retire early? How much will we need?

TRC How does the $200K relate to your after-tax spending today? Others have provided a number of methods for calculating the "nut." I encourage you to think about your target versus what you spend today. Based on your income, the $200K target versus what you spend today and need to save in...
by HopeToGolf
Mon Dec 23, 2013 10:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can we retire early? How much will we need?
Replies: 39
Views: 3230

Re: Help at a transition point.

Hope to golf, I sent you a PM to answer your question. Thanks for the PM, however, Bogleheads invest a lot of time responding to posts and helping members....you should provide all with the same transparency since you could get different answers to your post if they knew.... [Information not intend...
by HopeToGolf
Mon Dec 23, 2013 8:02 am
 
Forum: Investing - Help with Personal Investments
Topic: c [Help at a transition point.]
Replies: 16
Views: 1099

Re: Help at a transition point.

4nursebee- I believe you also have an interest in individual stock investments. Did your increase in Roth/IRA account balances from about $100k in this thread http://www.bogleheads.org/forum/viewtopic.php?f=1&t=93935&p=1352013#p1352013 to the values (>$800K) in this thread come from individu...
by HopeToGolf
Sun Dec 22, 2013 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: c [Help at a transition point.]
Replies: 16
Views: 1099

Re: Where in New Jersey to buy home with NYC commute, childr

Look into West Windsor/Princeton Junction. Very good schools and if you use express trains, you can get to Penn Station in less than 1 hour.
by HopeToGolf
Sat Dec 21, 2013 9:12 am
 
Forum: Personal Consumer Issues
Topic: Where in New Jersey to buy home with NYC commute, children?
Replies: 66
Views: 3720

Re: Deferred Compensation Plan

I say defer enough to capture the match. However, there probably is a break even point where in the future the taxes deferred now could be higher due to being in a higher tax bracket at withdrawal (she leaves before retirement) and this amount exceeds the match. At my company, there is no match so t...
by HopeToGolf
Mon Dec 16, 2013 5:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Deferred Compensation Plan
Replies: 27
Views: 1524

Re: Considering a "Year Off" from retirement contributions..

DFWInvestor Regarding the car, just to offer perspective since you seem to almost feel entitled to buy it given your income and referenced your current car and it being suitable to someone making 1/5 of what you do...... I know someone who makes about 7x of you and your wife and is still thinking ha...
by HopeToGolf
Sat Dec 14, 2013 9:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Considering a "Year Off" from retirement contributions.....
Replies: 64
Views: 5326

Re: Correcting the course after many life changes

As a number of posters have pointed out, your plan will not help you get to your goals. I recommend that you use a few calculators out there for retirement (Fidelity, Schwab, FireCalc) and college costs (do a google search) to figure out how much you need to save and have returned to get to your goa...
by HopeToGolf
Sat Dec 07, 2013 11:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Correcting the course after many life changes
Replies: 31
Views: 3751

Re: assuming no financial aid; how much per child in 529?

Take away the credit punchbowl and this bubble will deflate faster than you can say "this cannot continue". We as a country have not learned our lesson with Fannie and Freddie, we now have to sink the young generation. When you have Ivy League grads working as baristas in your local coffe...
by HopeToGolf
Sun Nov 03, 2013 4:52 am
 
Forum: Investing - Help with Personal Investments
Topic: assuming no financial aid; how much per child in 529?
Replies: 33
Views: 1890

Re: New ibond rates for nov 2013

Since federal employees were furloughed for 16 days, it would be reasonable to guess that the new I bond rates will be announced 16 days after the original date. Or since they get paid for the "furlough", perhaps they will be working extra hours to make up for the missed time and it won't...
by HopeToGolf
Sun Oct 27, 2013 6:12 pm
 
Forum: Investing - Theory, News & General
Topic: New ibond rates for nov 2013
Replies: 45
Views: 7952

Re: A Social Security "working couple bonus?"

Funny...I always thought of the married single earner couple as being in the more advantageous situation with regard to SS. The $0 earner gets 1/2 of the worker's benefits for "free."

The dual earning couple pays double for double the benefits.....no advantage.
by HopeToGolf
Sun Oct 27, 2013 6:07 pm
 
Forum: Investing - Theory, News & General
Topic: A Social Security "working couple bonus?"
Replies: 18
Views: 1681

Re: 529 College Plan

No it is not nearly enough for your goal. You can use any number of college cost calculators out there to tell you how short you are on savings. BTW, looking at the previous posts, the concept that the costs cannot continue to grow, think again. With income based repayment, loan forgiveness, etc., o...
by HopeToGolf
Sat Oct 05, 2013 11:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 College Plan
Replies: 18
Views: 1893

Re: Advice for 401k/IRA and Creating Taxable Portfolio

Just wanted to offer encouragement to keep planning and saving. Also you may want to run TurboTax on your expected income. I have not run the numbers but I just cannot see how you can get to $104K on your income after taxes and living expenses (incl. charity). The pre-tax deductions help but even at...
by HopeToGolf
Sat Sep 28, 2013 6:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for 401k/IRA and Creating Taxable Portfolio
Replies: 11
Views: 1281

Re: What do you do with your cash back rewards?

I have Amex Blue Cash and take the cash back as a statement credit 1x per year, usually the billing month of the big family vacation.
by HopeToGolf
Sat Aug 31, 2013 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: What do you do with your cash back rewards?
Replies: 51
Views: 3336

Re: Tips on splitting marital finances

How about increasing the size of her allowance? What we decided to do was determine a budget (together) for certain his/her expenses...clothes, sporting events, etc. Each spouse receives a direct deposit from their paycheck into a separate account to spend as they wish. The rest goes into a shared a...
by HopeToGolf
Sat Aug 17, 2013 6:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Tips on splitting marital finances
Replies: 71
Views: 5215

Re: How much I need to retire.

So at this stage, I think a good rule-of-thumb would be to save 25% of your current pre-tax gross income. Thanks, Thanks, I have a question. If our gross income is $100K (before taxes), and we want to save 25% of our current pre-tax gross income 1. Does this mean we should be saving $25K per year i...
by HopeToGolf
Sat Jul 06, 2013 12:32 pm
 
Forum: Investing - Theory, News & General
Topic: How much I need to retire.
Replies: 65
Views: 11028

Re: Buying a car outright smartest financially?

Rather than question your decision, how about a little more detail on the rental option..... In 5 minutes I found a place that will rent a 911 Carrera 4S Cabriolet for $1K per weekend....so...if you live near a major city and you are committed to spending $8K for a year how about being able to drive...
by HopeToGolf
Sat Jul 06, 2013 11:20 am
 
Forum: Personal Consumer Issues
Topic: Buying a car outright smartest financially?
Replies: 149
Views: 9625

Re: Portfolio Q&A -- Probably Some Low-Hanging Fruit!

Portlandhead While I am not a fan of using leverage for investments, it is a viable strategy. In my opinion, you are underestimating the amount of returns you need to break even, forget making a profit. I am not going to do the math for you but here are a few thoughts: Create a spreadsheet that show...
by HopeToGolf
Thu May 02, 2013 5:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Q&A -- Probably Some Low-Hanging Fruit!
Replies: 66
Views: 2889

Re: Hourly financial planner...help with spousal spending

No answer on the planner front but one thing we did was go the allowance route. It has controlled the spending quite a bit but my wife has gone into a smallish amount of debt (overspent her allowance). :oops: That said, we talk about it and the approach has worked in that it helps her see and manage...
by HopeToGolf
Sat Apr 27, 2013 5:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Hourly financial planner...help with spousal spending
Replies: 23
Views: 2574

Re: Backdoor Roth IRA: Every Year?

Hey There, First time poster (long time lurker). My wife and I are perfect candidates for a backdoor Roth IRA (combined AGI too high, no other TIRAs, etc.). I'm understanding the mechanics...it all seems pretty simple, but I have a newbie question. Once the TIRA is converted to the Roth IRA, can I ...
by HopeToGolf
Fri Apr 26, 2013 10:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA: Every Year?
Replies: 13
Views: 2173
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