Search found 812 matches

Return to advanced search

Re: Can I do a *Roth 401k* to *Roth IRA* Rollover?

Yes you can contribute the max $18K to a Roth 401k, and then when you inevitably leave it will be rolled into a Roth IRA (any employer matches will go to a Traditional IRA though so the account will be split). In fact if your plan allows for after-tax 401k contributions, you can make those too and h...
by Meg77
Wed Dec 17, 2014 12:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I do a *Roth 401k* to *Roth IRA* Rollover?
Replies: 6
Views: 501

Re: Could it be worth using Roth even in a high tax bracket?

[quote="toto238']Well I wouldn't want EVERYTHING in Roth either. But my employer puts in 10%+ of my salary in my 401k already pre-tax, so I already have significant holdings pre-tax. But the question is, if I get bumped into the 25% tax bracket, or even the 28% bracket, is it still worth puttin...
by Meg77
Wed Dec 17, 2014 12:22 pm
 
Forum: Investing - Theory, News & General
Topic: Could it be worth using Roth even in a high tax bracket?
Replies: 37
Views: 2123

Re: Volvo vs. Mercedes

I haven't read all the comments, but I had a similar debate between the Volvo and Mercedes brands and went with a slightly used Volvo XC60 a couple of years ago. I've loved it and get compliments fairly regularly. One factor for me that swayed me was that Volvo is less common (more unique) and also ...
by Meg77
Wed Dec 17, 2014 11:32 am
 
Forum: Personal Consumer Issues
Topic: Volvo vs. Mercedes
Replies: 46
Views: 3076

Re: WHY is retirement enjoyable / something to look forward

I don't think your premise is correct in all cases. I know many people nearing retirement age who want to continue working. Here are some reasons. - Some care more about their identity and the prestige of their careers than about retirement - Others will never feel like they have "enough" ...
by Meg77
Wed Dec 17, 2014 11:22 am
 
Forum: Personal Consumer Issues
Topic: WHY is retirement enjoyable / something to look forward to?
Replies: 134
Views: 5894

Re: Convince Wife About Value of IRA - Good Resources

I agree you absolutely should be taking advantage of all the retirement accounts that you can. And I find it weird that with an income of $400K and such low expenses that it would even be an issue whether you "tie up" $11K a year in a Roth IRA - particularly when contributions can be taken...
by Meg77
Mon Dec 15, 2014 5:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convince Wife About Value of IRA - Good Resources
Replies: 13
Views: 1092

Re: Odds of portfolio survival = 90%; odds of my survival =

I would rather eat my birthday cake than dog food at 95. Having children also makes me feel easy, knowing that someone from my family can have the money if I do not celebrate my 95th birthday. Are you sure you'll know the difference between cake and dog food when you're 95 -- or that you'll even ca...
by Meg77
Mon Dec 15, 2014 4:02 pm
 
Forum: Investing - Theory, News & General
Topic: Odds of portfolio survival = 90%; odds of my survival = 0.1%
Replies: 150
Views: 7075

Re: What are your 2015 Financial Goals?

I was just making a list of goals and prioritizing them when I decided to check this forum for a "break" from my financial analysis. :) Goals met this year Maxed 401ks, ESPP, HSA Maxed backdoor Roth IRA in my name for 2014 Paid down mortgage enough to get rid of PMI (we also recast the amo...
by Meg77
Mon Dec 15, 2014 12:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: What are your 2015 Financial Goals?
Replies: 79
Views: 4549

Re: Took the Plunge into the Boglehead Allocation

Thanks for sharing! Great plan. It's an aggressive AA, but as long as you keep enough in cash reserves to prevent having to tap your portfolio (even for homes, engagement rings, cars, and other mid term big purchase possibilities), then you should be fine!
by Meg77
Tue Dec 02, 2014 4:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Took the Plunge into the Boglehead Allocation
Replies: 38
Views: 2868

Re: Newly married...portfolio help

Congrats on your new marriage! 1) I agree, your wife's 0.2% expense ratio large equity index is the obvious choice for all her 401k investments (it's really the only decent choice at all). Your TSP options look good, as does your old 401k in the VG retirement fund. I'd probably want to roll that ove...
by Meg77
Tue Dec 02, 2014 3:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newly married...portfolio help
Replies: 4
Views: 479

Re: FIRECalc, What does it cost to really live

Interesting chart. A lot of these categories are way high or low for me and my husband, which stands to reason when they calculate costs as a percentage of income. For example, a couple might make $500K a year but probably won't spend a fixed 5.7% of that ($25,850) on groceries! Plus things like pub...
by Meg77
Tue Dec 02, 2014 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: FIRECalc, What does it cost to really live
Replies: 8
Views: 1543

Re: Spending changes in retirement? Vanguard CFP

I don't have a link, but I subscribe to the Journal of Financial Planning and they have outlined this issue on numerous occasions complete with all kinds of recent data. Here's a PDF from the Financial Planners Association that popped up when I googled "retirement spending decreases." It h...
by Meg77
Tue Dec 02, 2014 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spending changes in retirement? Vanguard CFP
Replies: 9
Views: 768

Re: Life changing decision... advice needed!

Here are the pros for going to fellowship (emergency medicine) /quitting my job[/b] - I love being a practitioner but I prefer my emergency medicine. So this is a typical case where my career fulfillment requires me to pursue a fellowship, but it may not be a sound financial decision. - did I say t...
by Meg77
Tue Dec 02, 2014 12:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life changing decision... advice needed!
Replies: 91
Views: 10711

Re: Just Paid Off My Car

Awesome! That extra $400 a month is like getting a 13% raise for you! Or even higher depending on your tax rate. :beer
by Meg77
Tue Dec 02, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Just Paid Off My Car
Replies: 24
Views: 2236

Re: [Poll] What's Your Tax Prep Strategy?

I've always used TurboTax, even as I've accumulated rental properties. However, I've engaged a CPA to do the taxes for 2014 and going forward since this year I got married, bought a new home, and converted my old homestead to a rental property. I'd rather pay someone to do the taxes than take on all...
by Meg77
Tue Dec 02, 2014 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: [Poll] What's Your Tax Prep Strategy?
Replies: 62
Views: 3288

Re: Help with bottom feeders

At the very least I'd complain to management at the company and tell them you want to file a formal complaint against that advisor. The regulating agencies track that stuff, and if you don't report complaints then future potential clients who look up that financial professional won't see this kind o...
by Meg77
Mon Dec 01, 2014 5:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with bottom feeders
Replies: 18
Views: 4100

Re: Fidelity's retirement savings guideline-Only need 8x sal

I don't think the Fidelity guidelines are very far off for the average American. If a couple who earns $100,000 can accumulate $800,000, they will probably be just fine in retirement between social security income (roughly $32K per year) and withdrawing 4% of that portfolio (another $32,000) - espec...
by Meg77
Mon Dec 01, 2014 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity's retirement savings guideline-Only need 8x salary?
Replies: 45
Views: 5091

Re: Spousal Dynamics on Finance

My husband and I both care very much about the finances and pretty much both do everything. Rather than splitting duties, we both check our investment performance, muse about what our target asset allocation should be, and read financial articles. All the bills are set up on automatic payment, and a...
by Meg77
Mon Dec 01, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal Dynamics on Finance
Replies: 54
Views: 5140

Re: Holding S&P 500 Index vs Total Stock Market?

You say you want a 100% stock allocation with a heavy dose of international exposure, which in my opinion is fine given your age. But that decision is not conducive with worrying about which types of stocks might be "safer" during periods of downturn. Bonds and cash are what is safer than ...
by Meg77
Mon Dec 01, 2014 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: Holding S&P 500 Index vs Total Stock Market?
Replies: 18
Views: 1804

Re: Personal Finance Counselor

I've never heard of a CPFC. I'd recommend going with a CFP who charges by the hour for counseling/advice. Some do, but not all. Some CFPs are investment managers but not all - others are bankers, accountants, estate planners, or other types of financial advisor. Either way definitely go with somebod...
by Meg77
Mon Dec 01, 2014 3:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Counselor
Replies: 5
Views: 615

Re: First rental property question

I think this sounds like a fine idea, assuming you have the money for the down payment and a nice emergency fund - and also assuming the MIL is financially stable. The last thing you want to deal with is having to evict your MIL. You also have to be careful to charge the MIL fair market rent or else...
by Meg77
Mon Dec 01, 2014 3:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: First rental property question
Replies: 14
Views: 1431

Re: Girlfriend with a LOT of Student debt.

We are not seeing the big picture here, so I think it's a little harsh to be making sweeping judgements about this girl's viability as a partner or about what the OP should do. We don't know how much either of you make, where you live, what your family backgrounds are financially, or even what the g...
by Meg77
Mon Nov 24, 2014 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Girlfriend with a LOT of Student debt.
Replies: 166
Views: 13609

Re: What were your biggest financial emergencies?

As far as your question is concerned, there are only a few "emergencies" I can think of that require access to actual cash in a short amount of time: bailing somebody out of jail and getting a car out of an impound lot. You have to have cash in the bank (or in a safe) in order to access qu...
by Meg77
Fri Nov 21, 2014 12:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: What were your biggest financial emergencies?
Replies: 39
Views: 4334

Re: What doyou splurge on?

I splurge too often, but here are some of the things I like to splurge on: Occasional massages, also regular (every 4-6 weeks) deluxe pedicures which I do primarily for the leg and foot massages Occasional very overpriced dinners (and drinks) out A housekeeper to come twice a month (even though I ha...
by Meg77
Fri Nov 21, 2014 12:22 pm
 
Forum: Personal Consumer Issues
Topic: What do you splurge on?
Replies: 211
Views: 17715

Re: What financial tools/software do you use?

I use SigFig.com (I use the app) which is the best investment aggregation tool I've found. All my husband's and my investment accounts are automatically pulled from and updated daily - like Mint except that more accounts are found there, like his HSA. It has slick charts and graphs showing everythin...
by Meg77
Wed Nov 19, 2014 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: What financial tools/software do you use?
Replies: 35
Views: 2384

Re: Advice for a new 25 year old investor

You're doing great! Those two funds you chose are great. I like the VG funds too, but the expense ratios are a bit higher so why not keep it cheaper. I would not add bonds at your age, particularly as bond values are likely to dip as rates rise over the next few years. Wait until you are 30 or 35 (a...
by Meg77
Wed Nov 19, 2014 12:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a new 25 year old investor
Replies: 12
Views: 1562

Re: I may not make my retirement goals! What to do?

27% does seem like a very low stock allocation for somebody in their mid 60's who could live another 30 years. I agree that you should probably ratchet that up to more like 35% - and I also agree that while the markets are hitting all time highs doesn't seem like the best time to do so. You can alwa...
by Meg77
Wed Nov 19, 2014 11:53 am
 
Forum: Investing - Help with Personal Investments
Topic: I may not make my retirement goals! What to do?
Replies: 49
Views: 3549

Re: Poll: How much $ for childcare?

I don't have kids, so I didn't respond to the poll, although I think you'd be better off to find out what the local daycare or a nearby nanny charges and use that as a starting point. Childcare costs vary dramatically even within one city or state depending on all kinds of factors. I do agree that i...
by Meg77
Wed Nov 19, 2014 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How much $ for childcare?
Replies: 20
Views: 2128

Re: Poll: Net cost of your checking account annually?

Account One (Joint, Primary): My local bank cut interest from 2% to 1.25% this year (up to $25K), so I earn about $250 a year with an average balance around $20K. I still get free ATMs and haven't had any OD fees; no monthly fees wither so my costs are nil. Account Two (Joint, Secondary): I have to ...
by Meg77
Wed Nov 19, 2014 10:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Net cost of your checking account annually?
Replies: 44
Views: 2726

Re: Advice for Another Mother

This may be unrelated to your concerns, but if your mother is still working, why is she living off any portion of her retirement portfolio? Ideally she would still be contributing to retirement accounts while she's working and before she retires. Second best would be not touching the account and let...
by Meg77
Mon Nov 17, 2014 2:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for Another Mother
Replies: 14
Views: 2218

Re: When do your account returns dwarf your contributions?

I've been thinking about this as well! I thought I was getting close to the tipping point, but then I got married and was able to increase contributions (while not increasing the portfolio by as much), so even though I'm able to save more now, I'm further away from that tipping point goal. :P It's a...
by Meg77
Mon Nov 17, 2014 12:53 pm
 
Forum: Investing - Theory, News & General
Topic: When do your account returns dwarf your contributions?
Replies: 51
Views: 6851

Re: Could you rent out your house?

For $1000 bucks a night I'd probably be all over it. If they want to stay a week that's fine by me! Although the hotels in your area will also be overpriced and/or full, so you'd probably have to play to stay with family or out of town to make it worth it (maybe schedule your usual annual vacation t...
by Meg77
Mon Nov 17, 2014 12:29 pm
 
Forum: Personal Consumer Issues
Topic: [Should I] rent out [my] house [for a 3-day event]?
Replies: 68
Views: 5161

Re: Extreme Generosity / Limiting Net Worth

This is very interesting for me, and I thank you for bringing up a topic very much associated with wealth (the primary focus of this forum), but much less often discussed than building it and spending it. I have had several instances in my life where I felt compelled to give away large chunks of my ...
by Meg77
Mon Nov 17, 2014 12:21 pm
 
Forum: Personal Consumer Issues
Topic: Extreme Generosity / Limiting Net Worth
Replies: 113
Views: 14787

Re: How often do you go out to dinner?

Most of my dining out consists of lunches (including brunch on the weekend) and happy hour (which I don't count as "dinner out" even if I have an appetizer). There are many weeks where I don't eat dinner out at all, but other times it might reach 3-4 times if we have a lot going on (someti...
by Meg77
Mon Nov 17, 2014 10:57 am
 
Forum: Personal Consumer Issues
Topic: How often do you go out to dinner?
Replies: 60
Views: 5558

Re: 20K Inheritance, now what?

You sound like you are doing great! If it were me I would max out the Roth IRA as quickly as possible with the windfall, rather than a little at a time out of your income. Then contribute to the taxable account little by little from your regular income. The reason is that the sooner you put money in...
by Meg77
Fri Nov 14, 2014 3:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: 20K Inheritance, now what?
Replies: 50
Views: 4025

Re: 36 y.o. New at investing, am I in too much debt?

Welcome to the forum! All things considered you are doing FINE. You have lots of room for improvement by Boglehead standards, but the good news is that you are way ahead of most Americans. You have a great, high income, and you own a nice house, and you have 2 cars paid off, and you are prioritizing...
by Meg77
Fri Nov 14, 2014 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: 36 y.o. New at investing, am I in too much debt?
Replies: 63
Views: 5912

Re: If your networth is over $3 million, how did you do it?

My parents are both there - largely from inheritances. Both sets of my grandparents started out poor and built family businesses over several decades. Both sets hit or got very close to $10MM in net worth as a result. I'm not there yet but am well on my way due to a lot of luck, some hard work, and ...
by Meg77
Fri Nov 14, 2014 2:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: If your networth is over $3 million, how did you do it?
Replies: 270
Views: 33291

Re: Isn't everybody here market timing, by definition?

It's not market timing to save a percentage of your income during every month that you have income and then to sell a certain percentage of your assets every month that you are in retirement. Sure, we are all stuck in whatever time frame we happen to be born, but that doesn't make us market "ti...
by Meg77
Fri Nov 14, 2014 2:14 pm
 
Forum: Investing - Theory, News & General
Topic: Isn't everybody here market timing, by definition?
Replies: 32
Views: 2052

Re: Real estate as my "million dollar idea"

To everyone trying to show the benefits of using leverage: I just simply can't see the benefits outweighing the risks. 1- You lose out on the ability to close on deals fast, on the spot, and cheaper by offering cash on the spot. The age old saying of "MAKE YOUR MONEY ON THE BUY" is all I ...
by Meg77
Fri Nov 14, 2014 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate as my "million dollar idea"
Replies: 78
Views: 7681

Re: Real estate as my "million dollar idea"

You sound like the ideal candidate to do real estate investing: * You have experience with construction work, concrete, HVAC, plumbing, etc. * Your father-in-law has a ton of experience managing real estate investment properties and can give you invaluable advice and contacts * The area you live in...
by Meg77
Wed Nov 12, 2014 12:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate as my "million dollar idea"
Replies: 78
Views: 7681

Re: Double Cash Credit Card from CITI

I have the Citi card now too and it's my primary card. Use the Amex Preferred for 6% on groceries and 3% on gas though.
by Meg77
Wed Nov 12, 2014 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Double Cash Credit Card from CITI
Replies: 19
Views: 2429

Re: mortgage rates

There isn't enough information here to figure out what kind of rate you could get. Mortgage rates and terms will vary depending on whether the home can be classified as your primary residence, as a second home, or as a rental property. I'm not sure about Florida's rules. In general 30 year fixed loa...
by Meg77
Wed Nov 12, 2014 12:37 pm
 
Forum: Personal Consumer Issues
Topic: mortgage rates
Replies: 1
Views: 323

Re: Save now.... Or later?

The usual advice is to drain your taxable investments before moving on to tax-advantaged accounts. The reason is that you want the funds in tax-sheltered accounts to compound tax-free for as long as possible. You have an additional incentive - getting a subsidy on your health insurance premiums. I'm...
by Meg77
Wed Nov 12, 2014 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Save now.... Or later?
Replies: 11
Views: 1918

Re: Food Frugality: Where do you draw the line?

I was just now thinking about this very topic after visiting the break room for free filtered water and noticing a fresh German chocolate cake - the fancy bakery kind, not the grocery store sheet stuff - sitting there calling for me. As I enjoyed a small slice, I found myself trying to rationalize t...
by Meg77
Wed Nov 12, 2014 12:19 pm
 
Forum: Personal Consumer Issues
Topic: Food Frugality: Where do you draw the line?
Replies: 94
Views: 7643

Re: 25 y.o. -- Is it "rebalancing" if I've never "balanced"?

You're doing great! 1. Definitely put 100% of your 401k contributions (and current balances) in the S&P 500 index. It's often the option with the lowest fees, plus it's a great foundation for the majority of your portfolio. (FWIW Warren Buffet has his will set up to dictate that his estate be in...
by Meg77
Sun Nov 09, 2014 11:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: 25 y.o. -- Is it "rebalancing" if I've never "balanced"?
Replies: 9
Views: 1998

Re: Should we refinance?

I'm a banker and I'm a bit confused. How can you avoid PMI if you are going to have an LTV of 90%? Usually mortgage rates from major lenders are very close on 30 yr fixed and 15 yr fixed options. There's a reason Wells Fargo is offering you such significantly higher rate. My hunch is that they know ...
by Meg77
Fri Nov 07, 2014 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should we refinance?
Replies: 30
Views: 1852

Re: What To Do With $85K Inheritance?

My husband and I had a long talk last night about setting up an IPS, and we established a few things. 1 - He's firmly against using these funds or any others to pay down his student loan or the car loans at least in the short term. 2 - Liquidity is paramount for us both and is the #1 priority. He wo...
by Meg77
Thu Nov 06, 2014 3:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2842

Re: ESPP vs. Mega Back Door Roth

The ESPP is clearly a winner in my view. A 15% match/bonus is hard to beat, especially if the mandatory holding period is less than one year. The first 6 months is hardest, but then you roll the money in and out without it impacting cash flow at all. As the other poster pointed out, you can then do ...
by Meg77
Wed Nov 05, 2014 5:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: ESPP vs. Mega Back Door Roth
Replies: 2
Views: 242

Re: What To Do With $85K Inheritance?

Emergency funds: 6 months ($105K - covers rentals and personal) Debt: All rates are fixed except for the student loan Credit Card 1 $14K 0.00% (to be paid w bonus income before maturity) Credit Card 2 $14K 0.00% (to be paid w bonus income before maturity) With $105,000 laying around why do you have...
by Meg77
Wed Nov 05, 2014 5:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2842

Re: What To Do With $85K Inheritance?

Personally, since you're married I would look at all assets and debts as one. Since your assets and debts are complicated I would start out by asking yourself this question. Where do you want to be in 5 years financially? Then maybe you can back into some of these decisions. Here's what I would do....
by Meg77
Wed Nov 05, 2014 5:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: What To Do With $85K Inheritance?
Replies: 46
Views: 2842

Re: Should I consider moving closer to work?

Commutes are terrible; they eat up a lot of the time and energy that could be spent doing all the things that boost people's happiness the most - things like socializing, exercising, cooking. The only thing I feel like doing after a commute is drinking and plopping in front of the TV - not the best ...
by Meg77
Wed Nov 05, 2014 4:13 pm
 
Forum: Personal Consumer Issues
Topic: Should I consider moving closer to work?
Replies: 37
Views: 2592
Next

Return to advanced search