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by drdavidge
Mon May 18, 2015 10:28 am
Forum: Investing - Help with Personal Investments
Topic: Where to roll Dad's retirement plan over to? Should we?
Replies: 2
Views: 477

Re: Where to roll Dad's retirement plan over to? Should we?

Thanks, I'll check into the 3 fund portfolio. Any other thoughts?
by drdavidge
Sat May 16, 2015 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Where to roll Dad's retirement plan over to? Should we?
Replies: 2
Views: 477

Where to roll Dad's retirement plan over to? Should we?

Hey, my father has an retirement plan from his former employer. He is almost 70 now. The account compounds annually, meaning they only post gains/interest once a year, on May 31st. This employee fund may be invested a bit too aggressive for his age - its about 90% stocks. My parents have alternative...
by drdavidge
Wed Apr 22, 2015 7:03 pm
Forum: Investing - Help with Personal Investments
Topic: Tax optimizing ideas for a large retirement acct withdrawl?
Replies: 6
Views: 802

Re: Tax optimizing ideas for a large retirement acct withdra

It should only take 3-4 months but true, that is another option.
by drdavidge
Wed Apr 22, 2015 6:20 pm
Forum: Investing - Help with Personal Investments
Topic: Tax optimizing ideas for a large retirement acct withdrawl?
Replies: 6
Views: 802

Re: Tax optimizing ideas for a large retirement acct withdra

Just ran a sample tax return with different withdraws... I come up with this as incremental tax due: Withdrawal Fed Taxes State Taxes Total Effective Tax Rate Paid $20,000.00 $5,012.00 $190.00 $5,202.00 26.010% $40,000.00 $8,673.00 $512.00 $9,185.00 22.963% $60,000.00 $13,232.00 $885.00 $14,117.00 2...
by drdavidge
Sat Apr 18, 2015 3:29 pm
Forum: Investing - Help with Personal Investments
Topic: Tax optimizing ideas for a large retirement acct withdrawl?
Replies: 6
Views: 802

Re: Tax optimizing ideas for a large retirement acct withdra

Good question but I've run all of their numbers. They can, between social security and pension payments, they clear all of their expenses and have money left over every month which goes to savings. Own their house, no debt. Plus some additional income from a rental property, plus they have some cash...
by drdavidge
Sat Apr 18, 2015 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Tax optimizing ideas for a large retirement acct withdrawl?
Replies: 6
Views: 802

Tax optimizing ideas for a large retirement acct withdrawl?

Hey, my retired father has a retirement account through his old employer. These were all pre-tax contributions so they will be taxed when withdrawn. They want to do some home improvement which will require them to withdraw about $100k from it. With their current income, they are in a pretty low tax ...
by drdavidge
Tue Apr 14, 2015 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: Where to move an employee retirement fund for retired dad?
Replies: 5
Views: 625

Re: Where to move an employee annunity fund to for retired d

So I finally got some more information about the current plan - its not an annuity, they just call it the Annuity Plan.. go figure. It's just a normal employee retirement account from pre-tax contributions from my father for his years of employment there. It can be rolled over into an IRA if he want...
by drdavidge
Sat Apr 04, 2015 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Where to move an employee retirement fund for retired dad?
Replies: 5
Views: 625

Where to move an employee retirement fund for retired dad?

Hey, my retired, 69 year old father has an annuity fund (edit: its just a regular employee retirement fund, not an annuity) through his former employer, and they said he has to move it away from them soon (or start taking monthly payments). What are my options on where he should put that cash? Defin...
by drdavidge
Sun Feb 09, 2014 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Choosing joint & survivor pension options?
Replies: 5
Views: 504

Choosing joint & survivor pension options?

Hello, My father just got his packet in the mail to start collecting his pension. His options are: Full Annuity with 60 Month Guarantee: 100% 50% Joint Annuity: 88.7% of the full, plus 50% (of the 88.7%) to the surviving spouse 775% Joint Annuity: 83.4% of the full, plus 75% (of the 83.4%) to the su...
by drdavidge
Wed May 29, 2013 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Any good way to hedge against rising mortgage rates?
Replies: 7
Views: 1206

Re: Any good way to hedge against rising mortgage rates?

What about shorting Eurodollar futures? Not very familiar with this but have been reading about it.
by drdavidge
Wed May 29, 2013 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Any good way to hedge against rising mortgage rates?
Replies: 7
Views: 1206

Any good way to hedge against rising mortgage rates?

I plan on purchasing a home in 2-3 years but would love to take advantage of the current interest rates. Is there any good way to hedge out the risk of rates rising in the future when buying a home?
by drdavidge
Sat Feb 09, 2013 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA and IRS Publication 590. They messed up.
Replies: 5
Views: 3001

Re: Backdoor Roth IRA and IRS Publication 590. They messed u

I dunno. Maybe I'm wrong (definitely not a CPA..) but I would think that I should only be subject to $53 as taxable. Any thoughts from any tax pros?
by drdavidge
Sat Feb 09, 2013 11:36 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA and IRS Publication 590. They messed up.
Replies: 5
Views: 3001

Re: Backdoor Roth IRA and IRS Publication 590. They messed u

Its $5000.

Pub.590, page 44: http://www.irs.gov/pub/irs-pdf/p590.pdf

Check it out:

Image

I'm fairly confident this should only be $53 as taxable.
by drdavidge
Sat Feb 09, 2013 11:14 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA and IRS Publication 590. They messed up.
Replies: 5
Views: 3001

Backdoor Roth IRA and IRS Publication 590. They messed up.

I think there is an error in the IRS Pub 590, page 44 – the Worksheet 1-5. The note on the bottom aims to adjust for Roth conversions, but it does not work as intended. I found this out by running through TurboTax – I contributed $5000 to a Traditional in 2011, converted that ($5053) in 2012, made a...
by drdavidge
Sun Jan 06, 2013 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Conversions
Replies: 4
Views: 335

Re: Roth IRA Conversions

Thanks, this is helping clear it up. Some more info.. I have no pre-tax assets except for my work 401k and I am 28 years old. So for the $500 of gains, I wont have to pay any penalties if I convert, right? And will Vanguard send me a statement for the $500 of "income" so I have it when fil...
by drdavidge
Sun Jan 06, 2013 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Conversions
Replies: 4
Views: 335

Roth IRA Conversions

I get confused every year when I do this... I contributed $5,000 of post-tax dollars to a Traditional IRA this year and it appreciated to about $5,500. I want to convert this to a Roth now, so I went in to Vanguard buy/sell/exchange to sell the full value ($5,500) of the Traditional and buy the same...
by drdavidge
Fri Nov 26, 2010 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Income jumped, overcontributed to my Roth IRA - what to do?
Replies: 9
Views: 2099

Thanks guys. So whats the strategy for 2011? If I contribute 5k to a TIRA for 2011, and convert that immediately to a Roth, how does that work? Do I have to pay taxes immediately on that 5k I just contributed and offset it with the deduction I would take for contributing to a TIRA, or do you just fo...
by drdavidge
Tue Oct 12, 2010 9:54 pm
Forum: Investing - Help with Personal Investments
Topic: Income jumped, overcontributed to my Roth IRA - what to do?
Replies: 9
Views: 2099

Are you already doing everything else you can to control AGI (like maxing out 401k, HSAs, etc)? Do my 401k contributions get deducted from my income for purposes of the MAGI calculation? How about pre-tax medical/dental/vision? Or how about pre-tax commuter costs that are automatically deducted for...
by drdavidge
Tue Oct 12, 2010 12:07 am
Forum: Investing - Help with Personal Investments
Topic: Income jumped, overcontributed to my Roth IRA - what to do?
Replies: 9
Views: 2099

Income jumped, overcontributed to my Roth IRA - what to do?

Hey guys, Single filer, my income unexpectedly jumped up this year to somewhere that may land in partial contributions or no contributions land for a Roth IRA. I've already contributed around $3750 to my Roth IRA this year and do not want to get hit with penalties. What should I do? Any important de...

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