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Re: Graduation books gift for a 24 year old

How about "The Millionaire Next Door" by Stanley and Danko? My cousin gave it to me when I graduated from medical school and it's really helped to put my financial goals into perspective ever since.
by Kircheis
Mon Apr 21, 2014 6:22 pm
 
Forum: Investing - Theory, News & General
Topic: Graduation books gift for a 24 year old
Replies: 22
Views: 1144

Re: Did not have fun this year doing my taxes- TT

My taxes were the most complicated it has been (had capital gains in taxable account, backdoor Roth, consultant income in addition to my usual salary), but TT handled it all fine. I used the premier desktop edition (which is what I have used in the past).
by Kircheis
Wed Apr 16, 2014 11:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did not have fun this year doing my taxes- TT
Replies: 42
Views: 4040

Re: How long does it take to do your taxes?

It took me about 2 hours last year (about an hour to organize the information and an hour to fill up the form in Turbotax). I was able to download my W-2 and 1099's.
by Kircheis
Sun Feb 09, 2014 10:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: How long does it take to do your taxes?
Replies: 53
Views: 2771

Re: Merrill Edge anyone?

I have a Merrill Edge account and I have had no problems so far. I got a few phone calls (which ended up going to voicemail) at the beginning asking if wanted to have an advisor, but I think they got the hint when I didn't call back. I haven't had a call from them in some time. I think another poste...
by Kircheis
Sat Feb 08, 2014 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge anyone?
Replies: 63
Views: 7219

Re: BoA Cash Rewards (1.5%+) Privileges VISA - worth a look?

I use this card for gas and groceries. Another nice thing about this card is that there are sometimes deals (called BankAmeriDeals) which give more cashback than the usual (for instance, there was a recent deal for 10% cashback at Starbuck's). I know that people complain about B of A's customer serv...
by Kircheis
Sat Feb 08, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: BoA Cash Rewards (1.5%+) Privileges VISA - worth a look?
Replies: 14
Views: 1271

Re: BoA Cash Rewards (1.5%+) Privileges VISA - worth a look?

I actually have this card and I find it very useful. I think that the annual fee is waived if you have a certain minimum balance in your accounts (as I have yet been charged an annual fee).
by Kircheis
Wed Feb 05, 2014 1:07 am
 
Forum: Personal Finance (Not Investing)
Topic: BoA Cash Rewards (1.5%+) Privileges VISA - worth a look?
Replies: 14
Views: 1271

Re: Hedge fund titan to pocket $3B for 2013

So, after the usual 2 and 20 fee, the investor would have had the same return as investing in a low cost S&P 500 index fund? um, no. How are hedge fund returns reported? If this is before fees, and the investor earned (38% - 2%)x80% then the investor earned 29% and matched the S&P 500. If t...
by Kircheis
Mon Dec 30, 2013 12:46 pm
 
Forum: Investing - Theory, News & General
Topic: Hedge fund titan to pocket $3B for 2013
Replies: 16
Views: 1206

Re: Hedge fund titan to pocket $3B for 2013

So, after the usual 2 and 20 fee, the investor would have had the same return as investing in a low cost S&P 500 index fund?
by Kircheis
Mon Dec 30, 2013 11:25 am
 
Forum: Investing - Theory, News & General
Topic: Hedge fund titan to pocket $3B for 2013
Replies: 16
Views: 1206

Re: What you wish you had known entering your late 20's

I wish I had known about the Roth IRA in my 20's when I had a resident's income.
by Kircheis
Fri Dec 27, 2013 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: What you wish you had known entering your late 20's
Replies: 100
Views: 9279

Re: What Was Your Best Portfolio move in 2013

I left my financial advisor and started managing my portfolio myself. I went from having 20+ mutual funds to 4 in my retirement account (I don't have a total stock market fund available, so I had went with a combination of an SP500 fund and a small cap fund).
by Kircheis
Fri Dec 27, 2013 11:59 am
 
Forum: Investing - Help with Personal Investments
Topic: What Was Your Best Portfolio move in 2013
Replies: 125
Views: 7038

Re: What percentage of your income are you saving?

If someone has before-tax income of $250K, they will generally have to pay some taxes like income tax and social security/medicare. Let's say they pay $30K in taxes, spend $40K including health care, and save/invest the rest. That's a saving/invest rate of 72%. On what planet do working $250k house...
by Kircheis
Sat Dec 14, 2013 11:45 am
 
Forum: Investing - Help with Personal Investments
Topic: What percentage of your income are you saving?
Replies: 208
Views: 11722

Re: Just hit the million mark net worth today

yogesh wrote:Read Bogle saying "celebrate when you reach goal" ...
Thanks to America - the land of opportunity
Planning to:
- Take family out to Disneyland
- Gift to charity
- Sponsor Europe Trip for Parents


Congratulations on your accomplishment!
by Kircheis
Sat Oct 19, 2013 8:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Just hit the million mark net worth today
Replies: 98
Views: 9321

Re: more than one credit card?

I rotate among 4 credit cards: Amazon Visa - 3% cashback on Amazon purchases B of A Platinum Privileges Visa - 3% on gas, 2% on groceries, with 50% bonus if cashback is deposited into a B of A account (so it's really 4.5% for gas, 3% for groceries) Chase United Airlines Mastercard - 2X miles for hot...
by Kircheis
Sat Jul 27, 2013 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: more than one credit card?
Replies: 51
Views: 3405

Re: How should i start to save?

I would recommend reading "All Your Worth" by Elizabeth Warren. I think it gives a really good step-by-step instruction on saving.
by Kircheis
Wed Jul 03, 2013 8:56 am
 
Forum: Personal Finance (Not Investing)
Topic: How should i start to save?
Replies: 14
Views: 1846

Re: Should I switch to Ally checking?

>Do any banks charge less than 1% on international ATM withdrawals? >Do any banks reimburse ATM fees outside of the US? I use B of A and they charged me 1% on a international ATM withdrawal. However, they waived the ATM fee as I used a bank that is in their network (Deutchebank when I was in Germany...
by Kircheis
Sat Jun 29, 2013 9:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I switch to Ally checking?
Replies: 15
Views: 2575

Re: Company switching to Fidelity for 401k

You should ask if you have the option of using BrokerageLink with Fidelity, which then lets you buy any of the mutual funds available at Fidelity (including the Spartan funds).
by Kircheis
Thu Jun 13, 2013 7:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Company switching to Fidelity for 401k
Replies: 14
Views: 1156

Re: Medical specialty, longer residencies worth it?

I think financially, going into a highly compensated subspecialty is worth it. The extra time that you spend in training is quickly offset by the increased earnings after the training. However, as others have mentioned, I think you should NOT use future compensation as the main reason for picking a ...
by Kircheis
Mon May 27, 2013 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical specialty, longer residencies worth it?
Replies: 55
Views: 5719

Re: Does Roth make sense in my situation?

Thank you very much for the suggestions! I will definitely open a nondeductible IRA and then convert it to a Roth. Just be sure to familiarize yourself with the exact procedure before you do it. For instance, you cannot have any other non-Roth IRA's, as the taxable portion of any conversation that ...
by Kircheis
Mon May 06, 2013 3:18 pm
 
Forum: Investing - Theory, News & General
Topic: Does Roth make sense in my situation?
Replies: 20
Views: 1423

Re: Does Roth make sense in my situation?

Thank you very much for the suggestions! I will definitely open a nondeductible IRA and then convert it to a Roth. With that, I will change back some of the contribution from the Roth to the traditional for the 403b. In response to a previous question, I have been using a mixture of Spartan 500 Inde...
by Kircheis
Mon May 06, 2013 12:20 pm
 
Forum: Investing - Theory, News & General
Topic: Does Roth make sense in my situation?
Replies: 20
Views: 1423

Re: Does Roth make sense in my situation?

In that tax bracket I would max out the pretax employer savings and then do a backdoor Roth IRA (note: chances are this would probably take no more money than what you are doing now-- it's just using the pre-tax savings to fund the Roth) +1 Second this. Plus a Vanguard account Roth IRA is almost ce...
by Kircheis
Fri May 03, 2013 1:07 pm
 
Forum: Investing - Theory, News & General
Topic: Does Roth make sense in my situation?
Replies: 20
Views: 1423

Re: Does Roth make sense in my situation?

In that tax bracket I would max out the pretax employer savings and then do a backdoor Roth IRA (note: chances are this would probably take no more money than what you are doing now-- it's just using the pre-tax savings to fund the Roth) +1 Second this. Plus a Vanguard account Roth IRA is almost ce...
by Kircheis
Fri May 03, 2013 9:41 am
 
Forum: Investing - Theory, News & General
Topic: Does Roth make sense in my situation?
Replies: 20
Views: 1423

Re: Does Roth make sense in my situation?

To clarify some of the points, the account that I am talking about is actually a 457b that allows either traditional pretax or Roth (or a split between each). I have been contributing 100% of the allowed amount to the Roth since that option became available several years ago. The amount that gets pu...
by Kircheis
Fri May 03, 2013 8:55 am
 
Forum: Investing - Theory, News & General
Topic: Does Roth make sense in my situation?
Replies: 20
Views: 1423

Does Roth make sense in my situation?

Hi, I will be in the 39.6% tax bracket this year. My workplace allows me to contribute to several different retirement accounts, including one that has a Roth option. I had been putting the maximum amount into the Roth (around $11k) for diversification purposes (since I figured it would be good to h...
by Kircheis
Thu May 02, 2013 11:12 pm
 
Forum: Investing - Theory, News & General
Topic: Does Roth make sense in my situation?
Replies: 20
Views: 1423

Re: Surtax of 3.8% on Net Investment Income

It looks those whose salaries significantly exceed the thresholds, say $500K a year for married couples filing jointly, should invest somewhere to realize some investment income, say 1K a year, to minimize the effect of ACA surtax. Could you expand on this? Useful discussion. In my example, a marri...
by Kircheis
Thu Mar 21, 2013 2:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Surtax of 3.8% on Net Investment Income
Replies: 29
Views: 3138

Houston Chapter

Hi,

I recently joined the forum. Is the Houston Chapter still meeting on a regular basis?
by Kircheis
Mon Mar 18, 2013 1:15 am
 
Forum: Local Chapters and Bogleheads Community
Topic: Houston Chapter
Replies: 23
Views: 2491

Re: What % of gross income do you spend on rent/mortgage?

I pay 5% of my gross on rent. Trying to save for a down payment on a house...
by Kircheis
Fri Mar 15, 2013 12:38 am
 
Forum: Personal Consumer Issues
Topic: What % of gross income do you spend on rent/mortgage?
Replies: 132
Views: 6680

Re: What's your process for reconciling checking transaction

I use a budgeting app for my iPhone which allows me to record my transactions against my current accounts. The app allows for reconciliation, which then shows me 2 balances for each account (one with the reconciliated transactions, the other if all transactions have gone through). This way, there is...
by Kircheis
Wed Jan 16, 2013 11:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's your process for reconciling checking transactions?
Replies: 57
Views: 2538

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