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Re: 2nd roth covnersion this year

The choices are poor. Its a city 457

i will already need to fill out 8606 for a backdoor roth conversion. How will I account for the 2nd conversion?
by bundy
Mon Jun 30, 2014 1:58 pm
 
Forum: Investing - Theory, News & General
Topic: 2nd roth covnersion this year
Replies: 5
Views: 446

recreating vanguard TSM from components

hi everyone
403b has:
vanguard 500 index VIFSX
vanguard mid cap index VMISX
vanguard small cap index VSAMX

can i get close to recreating TSM from these? What proportions would I have to use?
I was thinking about 75% 500 index, 15% mid cap and 10% small cap

thank you!
by bundy
Mon Jun 30, 2014 12:51 pm
 
Forum: Investing - Theory, News & General
Topic: recreating vanguard TSM from components
Replies: 3
Views: 263

Re: 403B bond options

How do they even get away with offering such poor choices? Dont the people who pick the funds have any fiduciary duties to the employees?
by bundy
Mon Jun 30, 2014 12:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403B bond options
Replies: 13
Views: 549

2nd roth covnersion this year

Hi everyone. I did a backdoor roth conversion earlier this year at vangurad($5500) (income over contribution limit). I contributed to tIRA and converted to roth. I am changing jobs, and have about 6k in a 457 plan. Can I roll these funds over to a tIRA at vanguard and convert to roth? I understands ...
by bundy
Mon Jun 30, 2014 12:11 pm
 
Forum: Investing - Theory, News & General
Topic: 2nd roth covnersion this year
Replies: 5
Views: 446

Re: 403B bond options

yes, a small ammount
by bundy
Fri Jun 27, 2014 9:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403B bond options
Replies: 13
Views: 549

Re: 403B bond options

no, only in non-prototype
by bundy
Fri Jun 27, 2014 8:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403B bond options
Replies: 13
Views: 549

Re: 403B bond options

I have both a 401k and a non prototype profit sharing plan which I can take anywhere. However its only the companys contribution that i can place there
by bundy
Fri Jun 27, 2014 8:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403B bond options
Replies: 13
Views: 549

Re: 403B bond options

5 yr 2.7%
3 yr 2.4%
1 yr 1.7%
by bundy
Fri Jun 27, 2014 5:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403B bond options
Replies: 13
Views: 549

403B bond options

Hey everyone. Wife just changed jobs, trying to decide on 403b options. We are in our 30s, attempting to be about 30-40% in bonds. We recently started saving for retirement, so our portfolio is under 100k. The 403b has low ER vanguard index funds, so that takes care of that. I looked over the bond c...
by bundy
Fri Jun 27, 2014 5:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403B bond options
Replies: 13
Views: 549

form 8606 question

hey everyone. So once again, its tax time and I am lost with this form. For 2012 i contributed 5k towards non deductible IRA (Jan 2013). For 2013, I contributed 5500. I then converted to roth IRA in 2013. The total converted was 10478 ( I lost $22). I do not have any other IRAs. So here is how I hav...
by bundy
Mon Jan 20, 2014 7:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: form 8606 question
Replies: 1
Views: 269

Re: taxes on dividends

Thanks for all the great info! Last year I had an accountant, but Im going to try turbo tax this year.
by bundy
Thu Dec 26, 2013 9:22 pm
 
Forum: Investing - Theory, News & General
Topic: taxes on dividends
Replies: 10
Views: 802

taxes on dividends

Hi everyone. I own vanguard TSM, Total internation, and small cap. Several times a year these funds kick off dividends that I do not re-invest. They end up in my checking account. How do I handle these in terms of taxes? How do I report this income, and are they taxed at regular income rate? thanks!
by bundy
Thu Dec 26, 2013 3:04 pm
 
Forum: Investing - Theory, News & General
Topic: taxes on dividends
Replies: 10
Views: 802

Dividends and retirement funds?

Hello. I'm a little confused about this topic. I hold vanguard target retirement 2045 in Roth IRA account. It kicks off a dividend once a year. However, total bond market gives off dividend every month and total stock market quarterly. Since the retirement fund consists of these, how can it have a d...
by bundy
Wed Jul 10, 2013 12:45 pm
 
Forum: Investing - Theory, News & General
Topic: Dividends and retirement funds?
Replies: 1
Views: 474

Re: Is this a good day to buy some more?

So if I buy TSM before 4 pm, will I be buying the dividend? Is waiting till tomorrow better?
by bundy
Thu Jun 20, 2013 3:34 pm
 
Forum: Investing - Theory, News & General
Topic: Is this a good day to buy some more?
Replies: 59
Views: 5294

short term capital loss tax harvesting in muni?

Hi everyone. Lets say I bought 10k of tax exempt muni bond fund 3 monhts ago. Today the value of that fund is $9500. I have received $100 in dividends over 3 months. If I sell the fund today, can I tax loss harvest the $500?
thanks!
by bundy
Wed Jun 05, 2013 11:03 am
 
Forum: Investing - Theory, News & General
Topic: short term capital loss tax harvesting in muni?
Replies: 4
Views: 577

Re: Time to dump bond funds?

Thanks for all the responses. I recently bought these funds, and i don't see much upside to them. They might earn 3-4% per year, but if interest rates change, I stand to loose more than that. Just seems like a bad bet. I think I'll buy some shorter duration funds, or just put the rest into total sto...
by bundy
Sat Jun 01, 2013 12:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time to dump bond funds?
Replies: 25
Views: 2714

Time to dump bond funds?

So there has been lots of hype about interest rates going up lately. I have Vanguard ny long term tax exempt and intermediate term tax exempt in my taxable account. Time to get out?
Thanks
by bundy
Fri May 31, 2013 8:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Time to dump bond funds?
Replies: 25
Views: 2714

Re: please help with mothers retirement plan (lack of)

He really didn't marry her for money, mostly because she doesn't have any. They were childhood friends and both lost their spouses. They were both lonely and didn't want to spend the rest of their lives alone. He English is poor and that prevents him from finding better work. I know that situation i...
by bundy
Fri May 24, 2013 9:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: please help with mothers retirement plan (lack of)
Replies: 17
Views: 840

Re: please help with mothers retirement plan (lack of)

Thanks for the replies, I'm more optimistic about the situation. So is there any reason to start either a Roth IRA or deductible ira with about 60-70% bond funds? Which is better?
by bundy
Fri May 24, 2013 9:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: please help with mothers retirement plan (lack of)
Replies: 17
Views: 840

Re: please help with mothers retirement plan (lack of)

Her expenses are fairly low. She and her husband can live on 3k/month. However, the co-op has a maintenance fee of $500/month that will slowly grow with time. As far as ss, I really dont know. She has made about 50k/yr for 20 yrs, so whatever that adds up to. No, she does not want to move because th...
by bundy
Fri May 24, 2013 7:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: please help with mothers retirement plan (lack of)
Replies: 17
Views: 840

please help with mothers retirement plan (lack of)

Hi everyone. So I just looked into my mothers retirement assets, and its not pretty. She is 59 years old, plans to retire in 3 years. She just got re-married, my dad passed away many years ago. He is 60 years old. She lives in NYC. Income: 50k/year. She has been working at same job for 20 years. Hus...
by bundy
Fri May 24, 2013 5:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: please help with mothers retirement plan (lack of)
Replies: 17
Views: 840

Re: 529 in NY

Sorry everyone. Unfortunately i am still not sure if I need to open the acct through the NYS website, or I can just do it through vanguard to get the NYS tax benefit. Thanks again
by bundy
Sun Apr 28, 2013 11:16 am
 
Forum: Investing - Help with Personal Investments
Topic: 529 in NY
Replies: 18
Views: 996

Re: 529 in NY

Thanks everyone for the replies. I already have an act with vanguard. Would I get the nys tax benefits by simply opening the account at vanguard, or do I have to use the NYS website?
Thanks!
by bundy
Sun Apr 21, 2013 10:14 am
 
Forum: Investing - Help with Personal Investments
Topic: 529 in NY
Replies: 18
Views: 996

Re: 529 in NY

Also, is there a difference if I start it at vanguard vs www.nysaves.org?
by bundy
Sat Apr 20, 2013 7:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 in NY
Replies: 18
Views: 996

Re: 529 in NY

Ok, so lets say that I Put in 50k. It grows to 100. My kid goes to college and i spend 50k on qualified expenses. Can I now withdraw my original 50, or would that now be taxed?
by bundy
Sat Apr 20, 2013 6:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 in NY
Replies: 18
Views: 996

Re: tIRA to backdoor IRA and 401k to tIRA rollover help

It appears that the retirement account is actually a profit sharing plan, and the group members are able to transfer their 401k funds into the profit sharing plan.
by bundy
Sat Apr 20, 2013 3:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: tIRA to backdoor IRA and 401k to tIRA rollover help
Replies: 9
Views: 396

529 in NY

Hello. I was considering starting a 529 plan for my daughter who is almost 5. Is the NY state plan the best option? I am in the 33% fed tax bracket, 6.8 NY tax bracket. Also, would I get the state tax deduction if i start the plan on vanguard compared to the NYS website? Another question. Lets say i...
by bundy
Sat Apr 20, 2013 2:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 in NY
Replies: 18
Views: 996

Re: tIRA to backdoor IRA and 401k to tIRA rollover help

thanks for the responses. It appears with management fees, I would be paying something like 2% on funds that are very similar to total stock market on vanguard. They are mostly index funds which are not actively managed (like T rowe price growth). I dont want to move the funds to a roth. I would be ...
by bundy
Sat Apr 20, 2013 2:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: tIRA to backdoor IRA and 401k to tIRA rollover help
Replies: 9
Views: 396

tIRA to backdoor IRA and 401k to tIRA rollover help

Hi everyone. So here is my situation. Im over the limit for ROTH IRA so I have used the backdoor route for 2012 and 2013 with vanguard using after tax dollars. I have filed from 8606. I plan to use the backdoor route yearly. I have also started contributing to group 401k which has crappy fund choice...
by bundy
Sat Apr 20, 2013 11:23 am
 
Forum: Personal Finance (Not Investing)
Topic: tIRA to backdoor IRA and 401k to tIRA rollover help
Replies: 9
Views: 396

How are municipal bonds taxed?

Hi everyone. I hold vanguards Intermediate-Term Tax-Exempt Fund Investor Shares. I live in NY. From what I understand, the dividends are federal tax free, but I will still have to pay state income tax on them. Will that be at my regular state income tax rate? Also, if i sell the bond fund some years...
by bundy
Sat Apr 06, 2013 8:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: How are municipal bonds taxed?
Replies: 1
Views: 213

Re: Please help with AA

The way I see it, since my Roth IRA will grow tax free, I should put in whatever combination is likely to have the largest return over 30 years. As I get closer to retirement, I should use more bonds to decrease risk. So is Vanguard retirement 2045 a suitable choice? Or should I use total bond marke...
by bundy
Sat Apr 06, 2013 5:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please help with AA
Replies: 4
Views: 349

Re: what to do with 8k in TIAA-CREF?

Tiaa real estate account has an expense ratio if 0.95. Is this really the best option? Maybe I'm just spoiled with vanguards ERs. :)
by bundy
Sat Apr 06, 2013 4:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: what to do with 8k in TIAA-CREF?
Replies: 30
Views: 1434

Please help with AA

Hello everyone. Im new to investing, mostly because I am just starting my career after being in school for a long time Im in my 30s. I have a very stable 6 figure job and have no debt. I live in NY and am in the 33% tax bracket. Here is what I have ROTH IRA $10,500 Vanguard Target Retirement 2045 Fu...
by bundy
Fri Apr 05, 2013 8:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please help with AA
Replies: 4
Views: 349

what to do with 8k in TIAA-CREF?

Hi everyone. So i was a SUNY employee, so you are forced to put away at least 3% of your paycheck in TIAA-CREF retirement account. I left suny, and now have 8k sitting there in a money market account not earning anything. From what i understand, this is a 401a plan. I put in 2k and employer put in 6...
by bundy
Fri Apr 05, 2013 6:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: what to do with 8k in TIAA-CREF?
Replies: 30
Views: 1434

Re: help with form 8606 [Nondeductible IRAs]

I do plan to make the 2013 contribution of 5500 this month. So after all that, do I still just fill out line 1-3 and 14bon 8606?
As an aside, my gf just started a Roth IRA and added 5k after doing her taxes. Does she need to fill out any tax form?
Thanks again!
by bundy
Mon Apr 01, 2013 12:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: help with form 8606 [Nondeductible IRAs]
Replies: 38
Views: 3469

Re: help with form 8606 [Nondeductible IRAs]

Hi Brian. The contribution was for 2012.
by bundy
Sun Mar 31, 2013 8:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: help with form 8606 [Nondeductible IRAs]
Replies: 38
Views: 3469

Re: help with form 8606 [Nondeductible IRAs]

I did both the contribution and conversion in 2013. Does that mean I only fill out lines 1-3 and 14?
The rest I leave blank?
I thought that when they say 2012, they mean until apr 15, 2013:
Thanks again
by bundy
Sat Mar 30, 2013 11:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: help with form 8606 [Nondeductible IRAs]
Replies: 38
Views: 3469

help with form 8606 [Nondeductible IRAs]

Hello. This is the first year that I contributed to IRA, but i did it after my 2012 tax return has been completed. So I will fill out form 8606. I contributed 5000 without taking any deduction and converted the traditional IRA to backdoor roth IRA. I did this in 2013. Im not sure how to answer quest...
by bundy
Sat Mar 30, 2013 9:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: help with form 8606 [Nondeductible IRAs]
Replies: 38
Views: 3469

Re: backdoor roth IRA

I do not have any other IRA. Why would it be easier o roll both 2012 and 2013 together? Wouldn't I have to do they every year from now on anyway?

So if I do need to file an ammended return, will the 5k will be tax deductible for 2012 and I will get taxed on it the following year?
by bundy
Sat Mar 30, 2013 2:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: backdoor roth IRA
Replies: 14
Views: 1287

Re: backdoor roth IRA

I read it, thank you. So I did my taxes for 2012 and did not take any deduction for contributing to an IRA. So now I open an account and place 5k in it, then convert to roth IRA immediatly. In terms of taxes, will i owe anything? Then when i contribute to $5500 for 2013, i will need to go same route...
by bundy
Sat Mar 30, 2013 12:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: backdoor roth IRA
Replies: 14
Views: 1287

backdoor roth IRA

Hello. After listening to some great advice from the people of this forum, I decided to open a backdoor roth IRA with vanguard. I am over the limit, so cant open a roth IRA. I have a few questions. First, on the actual procedure. So I sign up for a traditional IRA account. Which index do I choose? A...
by bundy
Sat Mar 30, 2013 10:35 am
 
Forum: Investing - Help with Personal Investments
Topic: backdoor roth IRA
Replies: 14
Views: 1287

change W4 to have less taxes withheld?

Hello. I currently file as single and have no dependents. I have a good 6 figure job. I have ample savings. My paycheck is garnished by about 40% each month. Is there any way to alter my W4 legally and have minimum wages deducted? I would not mind paying at the end of the year and put that money int...
by bundy
Sat Mar 30, 2013 8:35 am
 
Forum: Investing - Help with Personal Investments
Topic: change W4 to have less taxes withheld?
Replies: 11
Views: 721

Re: beginner portfolio, high income job

I actually dont live in NYC, so I dont pay NYC taxes, just NY state taxes. So NY Long Term Tax Exempt vs Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares ??? Also, is there any period that I absolutely must hold this account for? For example, I decide to do something else in 6 months, am I...
by bundy
Fri Mar 29, 2013 9:07 am
 
Forum: Investing - Help with Personal Investments
Topic: beginner portfolio, high income job
Replies: 9
Views: 1072

beginner portfolio, high income job

Hi everyone. First time poster. Thank you in advance to everyone who replies. Here is my situation. Im 35 years old. I have been in school for a while, and finally got my first job this past Sept. I make 300k/year. i live in NY File as single 33% federal tax bracket. My job is very stable, and I can...
by bundy
Thu Mar 28, 2013 5:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: beginner portfolio, high income job
Replies: 9
Views: 1072

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