Search found 7 matches

by Sean717
Sun Dec 07, 2014 10:14 am
Forum: Personal Investments
Topic: When to sell mutual fund
Replies: 5
Views: 801

Re: When to sell mutual fund

Thanks Guys,

Is my online savings account(0.9%) the best place for it for now?
by Sean717
Sun Dec 07, 2014 9:35 am
Forum: Personal Investments
Topic: When to sell mutual fund
Replies: 5
Views: 801

When to sell mutual fund

Good Morning,

My wife has been contributing to a mutual fund through USAA (USCRX) since she started working 7 years ago. As a new bogle head I realize this is not the best choice but I am glad she saved. We have about 2000 shares a little over 52000. We are planning on buying a house at some point next year and will be using this and wedding money for our down payment. I will also be starting a new job which will increase my tax bracket 25% to 33%

From what I understand most of this will be long term capital gains. But should I sell the mutual fund now when my income is lower and put it in my online savings account at 1% or wait until we get closing to buying next year?

Thanks in Advance
by Sean717
Wed Oct 22, 2014 3:31 pm
Forum: Personal Investments
Topic: Young Doctor Needs Finance Consult
Replies: 13
Views: 1878

Re: Young Doctor Needs Finance Consult

I am not talking about ethics but curious about numbers. If you were earning more in private sector and pay the loans off sooner than in 10 years (due to high income), wouldnt the higher salary negate the interest on loan? Yes it probably would. My decision on private sector vs public would probably come down to what I want to do with my live (stay in education or join a lucrative group) Also, how much would you save by filing from next year as Married Filing Jointly? I would have to pay the same loan payments either jointly or separately, so I figure I would save on the deductions I would not get with filing separately (student loan, etc.) What retirement plans would you have at new job to reduce taxable income? If you go private, would y...
by Sean717
Wed Oct 22, 2014 2:04 pm
Forum: Personal Investments
Topic: Young Doctor Needs Finance Consult
Replies: 13
Views: 1878

Re: Young Doctor Needs Finance Consult

@niceguy
The salary would be higher prob at least 185, and maybe 225 but some I that I would have to pay into the practice. I will also not qualify for the loan forgiveness which I would staying in the public sector. That may allow to me to get up to 50-100,000 paid off.
My loan payment will prob be around 1900 a month starting, and changing based on how many dependents and raises. It would be 2400 if i was making more.

@ LA
We didnt have a 401k option.
by Sean717
Wed Oct 22, 2014 11:11 am
Forum: Personal Investments
Topic: Young Doctor Needs Finance Consult
Replies: 13
Views: 1878

Re: Young Doctor Needs Finance Consult

No, you have to make less than 10,000 a year to contribute to a Roth ira if you file married filing seperately, so we opened up traditional IRAs and contribute only to them for now.

The I interest rate on the loans is 6.8% but I plan to stay in the public sector which will enable to to get the loans forgiven after 10 years of payments.
by Sean717
Wed Oct 22, 2014 10:52 am
Forum: Personal Investments
Topic: Young Doctor Needs Finance Consult
Replies: 13
Views: 1878

Re: Young Doctor Needs Finance Consult

By married filing separately(to keep the student loan payments down) the income limits was 10,000 to contribute to a Roth IRA so that is why we started using a traditional IRA.

My income will increase in July of 2015 when I graduate residency.
by Sean717
Wed Oct 22, 2014 10:33 am
Forum: Personal Investments
Topic: Young Doctor Needs Finance Consult
Replies: 13
Views: 1878

Young Doctor Needs Finance Consult

Hello All, First time post here. Have a question for all you guys. I am a internal medicine chief resident making 65 a year and my wife makes 55. I have 210,000 in loans and have been paying it back through a income based repayment with hopes of getting a good portion of it forgiven through the new public service loan forgiveness. Because of this I have tried to keep my payments at their lowest. In order to do this I had to file married filing separately to keep the monthly payments around 400, otherwise would be 1200 filing jointly. We have been forced to use traditional IRA's for the past 2 years due to filing separately. We will start to file jointly in 2015 because my salary will significantly increase to at least 165,000. Should we con...