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Re: TIRA to RothIRA - Convert or Recharacterize?

Oh okay i was over thinking things, thanks for the clarification!
by gjgarcia41
Tue Nov 05, 2013 11:10 am
 
Forum: Investing - Help with Personal Investments
Topic: TIRA to RothIRA - Convert or Recharacterize?
Replies: 7
Views: 492

Re: TIRA to RothIRA - Convert or Recharacterize?

Yeah the value has gone up so looks like it would be most beneficial to recharacterize. I am able to deduct the whole $5500 and have no other traditional Ira money. But if I recharacterize, the account will still be a TIRA...so any future contributions would be deductible. I don't see the point in h...
by gjgarcia41
Sat Nov 02, 2013 3:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIRA to RothIRA - Convert or Recharacterize?
Replies: 7
Views: 492

TIRA to RothIRA - Convert or Recharacterize?

I opened a Vanguard TIRA in March 2013 because my employer did not offer a 401K plan. Now my employer offers a 401K plan so I'd like to convert my TIRA into a Roth. I called Vanguard, and they gave me the options of converting or re-characterizing my contributions. So far I've contributed the $5,500...
by gjgarcia41
Sat Nov 02, 2013 1:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIRA to RothIRA - Convert or Recharacterize?
Replies: 7
Views: 492

Re: 23 year old noob investor

Hello again everyone! I've made a few moves since my original post. I'd like some advice on my portfolio. Emergency funds: 4 months of expenses Debt: 60k mortgage at 2.75% (5/5 Penfed ARM) This will be paid off in roughly 5 years. Tax Filing Status: Single Tax Rate: 15% Federal, 6% State; Income 35k...
by gjgarcia41
Thu Oct 31, 2013 1:31 am
 
Forum: Investing - Help with Personal Investments
Topic: 23 year old noob investor
Replies: 6
Views: 851

Re: Should I Refinance?

I am a banker who also used to originate conventional mortgages and based on your stated goal of paying the loan off faster, I would NOT recommend that you refinance. If you really need to lower your minimum loan payment due to a possible cash flow cruch then refinancing would be a good choice, but...
by gjgarcia41
Wed Jul 17, 2013 2:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I Refinance?
Replies: 24
Views: 1816

Re: Should I Refinance?

Yes, you should refi. No, you should not go with any of the outfits you listed. With such a small balance, it will be hard to break even with $2,600 in closing costs. And the quoted rates don't seem competitive. Common recommendations here are to check out a handful of lenders listed as "Upfro...
by gjgarcia41
Sun Jul 14, 2013 9:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I Refinance?
Replies: 24
Views: 1816

Should I Refinance?

Hello all, I know it really missed the boat on this one, but I am just barely starting to consider refinancing. I recently became the successor trustee to my father's estate, which means I am now a 23 year old new homeowner. There is a lot for me to learn about property management and mortgages, so ...
by gjgarcia41
Fri Jul 12, 2013 2:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I Refinance?
Replies: 24
Views: 1816

Re: 23 year old noob investor

Thanks for all the advice so far. I'm really liking the three fund portfolio. The thing is...can I keep my target retirement account as my tax-deferred account and then have the three taxable accounts funds? My Target Retirement account is composed as follows: Vanguard Total Stock Market Index Fund ...
by gjgarcia41
Fri May 03, 2013 2:51 am
 
Forum: Investing - Help with Personal Investments
Topic: 23 year old noob investor
Replies: 6
Views: 851

23 year old noob investor

Hi everyone, I just finished reading Personal Finance for Dummies and the Bogleheads Guide to Investing. Now I'd like to adjust a portfolio I rushed into before I finished the Bogleheads book. I have no big purchases pending and would like to invest as much money as I can while I'm single. I have $3...
by gjgarcia41
Thu May 02, 2013 3:17 am
 
Forum: Investing - Help with Personal Investments
Topic: 23 year old noob investor
Replies: 6
Views: 851

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