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Re: Fidelity Premium

right, and when I called that's what they said. But now my retirement account says: Are you making the most of Premium Services? Find out by talking to one of our Guidance Consultants at 800-823-0172. and: FIDELITY PREMIUM SERVICESSM Your portfolio deserves extra attention. Our one-on-one guidance ...
by tfb
Fri Feb 27, 2015 2:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity Premium
Replies: 18
Views: 1684

Re: Fidelity 1099

Lucy1721 wrote:Did anyone receive their Fidelity Consolidated 1099?

Yes, several weeks ago. It depends on what you have in your account.
by tfb
Thu Feb 26, 2015 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity 1099
Replies: 7
Views: 554

Re: Fidelity Premium

I need to know if anyone can explain whether I am, or am not, eligible for Fido Premium if I have < $250k in my brokerage account, but > $250k in my retirement accounts. Go to https://www.fidelity.com/wealth-management/premium-services. Read footnote 1. IRAs count. Employer plan assets don't. 1. Fi...
by tfb
Thu Feb 26, 2015 7:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity Premium
Replies: 18
Views: 1684

Re: RSU sale, cost basis reporting

Maybe I'm confusing terms, but above it seems you are saying (for the example I gave in the initial post) that $1650 is the cost basis. That is the number in my W2 when the RSU vests (which I assume is what you mean by released). But that's not the cost basis to use for form 8949, right? So are the...
by tfb
Tue Feb 24, 2015 12:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: RSU sale, cost basis reporting
Replies: 15
Views: 340

Re: RSU sale, cost basis reporting

Using my same numerical example from above but with a 2015 purchase and sale date, under the new rules, what would be different (and apparently incorrect) in the reporting on the 1099? This is what I'm not understanding. The cost basis is reported as blank. If you just take the 1099-B as-is you wil...
by tfb
Tue Feb 24, 2015 12:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: RSU sale, cost basis reporting
Replies: 15
Views: 340

Re: green dot card scam?

It doesn't require SSN. I think they wait for you to add some money to it and then they zap the money out. Call the 800 number to see if there's any money on it. If empty, just throw it away.
by tfb
Mon Feb 23, 2015 8:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: green dot card scam?
Replies: 3
Views: 467

Re: Rule change causes double taxation for ESPP/ESOP/RSU

chessmannextmove wrote:HRBlock software is clunky for this.

It was very easy to do in my H&R Block desktop version. It asked whether the basis is correct, and if not, what is the correct basis. I entered the correct basis. It entered an adjustment with code B on Form 8949. That was it.
by tfb
Mon Feb 23, 2015 8:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rule change causes double taxation for ESPP/ESOP/RSU
Replies: 15
Views: 1329

Re: Changing Banks is a Royal PITA

FreddieG wrote:Is it just me, or is changing banks, or even checking accounts within the same bank, a royal pain?

It helps if you have a list of parties you are paying or auto-withdrawing from your account. After you go through the list, the switch is done.
by tfb
Thu Feb 19, 2015 11:04 pm
 
Forum: Personal Consumer Issues
Topic: Changing Banks is a Royal PITA
Replies: 11
Views: 1382

Re: Dave Ramsey Lashes Out at His Financial Critics

The question shouldn't be "is the world a better place with Dave Ramsey on the scene" as argued back and forth in many posts above. That's certainly debatable, but it's not really the point. I agree. If Dave decides to exit the get-out-of-debt education market, someone else will see it's ...
by tfb
Thu Feb 19, 2015 2:04 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9635

Re: Dave Ramsey Lashes Out at His Financial Critics

Dave Ramsey lashes out at critics the same way MMM lashes out at critics -- "Don't bug me with these details. Look at the big picture!" The details are kind of important.
by tfb
Wed Feb 18, 2015 4:28 am
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 9635

Re: Mega backdoor: convince employer to allow after-tax cont

I want to understand what costs would be involved for the employer if it were to request the 401k administrator (fidelity) to enable after-tax contributions? Would it be too expensive for the employer? It would be. If it doesn't have it now chances are slim they will add it. Plan has to be amended....
by tfb
Mon Feb 16, 2015 3:36 am
 
Forum: Investing - Theory, News & General
Topic: Mega backdoor: convince employer to allow after-tax contribs
Replies: 6
Views: 758

Re: Form 8949, ESPP shares, report income.

Finally getting around to doing my own taxes and I want to ask about some ESPP shares I sold in 2014. These get logged on 8949 Part II E (long term, reported on 1099 but basis not furnished to IRS). The gain for these shares did appear in my taxable income on my W2 (let's say it was an even $500 fo...
by tfb
Mon Feb 16, 2015 3:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Form 8949, ESPP shares, report income (TaxACT)
Replies: 4
Views: 433

Re: Backdoor Roth tax chaos; did my F.A. lead me astray?

It seems that, because I had some money in my traditional IRA (~$4850) as of 12/31/14, a substantial portion of my backdoor Roth conversion during 2014 won't be tax-free, even though it easily could have been, since I converted the entire value of all my IRAs at the time of the conversion (in 5/201...
by tfb
Mon Feb 16, 2015 3:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth tax chaos; did my F.A. lead me astray?
Replies: 36
Views: 2016

Re: Life insurance company ratings - A+ vs A++

zup28w wrote:If an agent recommends only A++ companies, do I have a valid argument to ask for other quotes?

You are the customer. You don't need a valid argument. "I want to see" is good enough.
by tfb
Fri Feb 13, 2015 11:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance company ratings - A+ vs A++
Replies: 9
Views: 783

Re: Only one Schwab OneSource ETF used in Intelligent Portfo

The article states: "So far, just one Schwab OneSource ETF made it through the screening process, he added without disclosing which ETF made the cut. Nor did he reveal any of the specific funds that will be available." I don't read that to say that any Schwab OneSource ETFs have been &quo...
by tfb
Fri Feb 13, 2015 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: 22 Schwab OneSource ETF used in Intelligent Portfolios
Replies: 23
Views: 2463

Re: Mr. Money Mustache: Hero or Foolish?

tallgirl1204 wrote:When is one retired vs. being a "stay-at-home" parent?

Internet Retirement Police Rule Book
- A change in pace
- No intention to return to full time
- Self-sustaining

By these rules your husband is indeed retired. He's not relying on your income nor his odd jobs.
by tfb
Thu Feb 12, 2015 7:18 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 415
Views: 61299

Re: Advisors: should clients expect you to waive sales charg

In The Five Best Load Funds for 2015 , Stephen Goldberg states: You should never pay a load. Talk to your adviser about having the sales charge waived. Does Goldberg set a reasonable expectation here? Yes. When you invest $1m or more in the same fund family, the load is waived (at least in American...
by tfb
Wed Feb 11, 2015 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advisors: should clients expect you to waive sales charges?
Replies: 10
Views: 1451

Re: Can a financial adviser fire a fund manager?

Beat The Street wrote:He can't fire a fund manager, he can move assets out of their fund and choose a different fund. I've seen advisers refer to this as "firing".

Agree. "Fire" as in sell the shares (and pay tax if in a taxable account) and invest the money in a different fund.
by tfb
Wed Feb 11, 2015 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can a financial adviser fire a fund manager?
Replies: 8
Views: 597

Re: Mr. Money Mustache: Hero or Foolish?

The claim to fame is that he retired at 30 with $600k plus a paid-off house. In fact before the blog took off, he was neither retired nor financially independent. He went into the construction business. The $600k plus a paid-off house could not have supported his $25k/year budget forever even if he...
by tfb
Tue Feb 10, 2015 6:20 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 415
Views: 61299

Re: Mr. Money Mustache: Hero or Foolish?

mak1277 wrote:If you believe that a 4% SWR can sustain you for longer than a 30 year period (which MMM has claimed in blog posts), a $625k nest egg would be fine for $25k/year expenses.

Why should I believe it? Just because someone said so? It's one of the fibs.
by tfb
Tue Feb 10, 2015 4:45 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 415
Views: 61299

Re: Mr. Money Mustache: Hero or Foolish?

The claim to fame is that he retired at 30 with $600k plus a paid-off house. In fact before the blog took off, he was neither retired nor financially independent. He went into the construction business. The $600k plus a paid-off house could not have supported his $25k/year budget forever even if he ...
by tfb
Tue Feb 10, 2015 3:57 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 415
Views: 61299

Re: Examples of load-only fund families?

Load is often waived in a 401k plan. Before you write it off ask whether the load is waived.
by tfb
Thu Jan 08, 2015 2:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Examples of load-only fund families?
Replies: 36
Views: 2572

Re: HSA not associated with employer and FSA

For the case of argument, let us assume my current health care plan meets the HSA requirements. What are my options for this year and next, thanks? None. Having a general purpose FSA disqualifies you for both years. I'll try again. This is not the Original Poster's Original Post, which asked about ...
by tfb
Thu Jan 08, 2015 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA not associated with employer and FSA
Replies: 11
Views: 1147

Re: HSA not associated with employer and FSA

555 wrote:Both? Why should an FSA in 2015 disqualify HSA eligibility for 2016?

The OP didn't ask about 2016.

Goblue97 wrote:Have FSA at $2500 in 2015 and had FSA at $2500 for 2014

Goblue97 wrote:Can I do this for 2014 (before April) or for 2015 in combination with the FSA for one or both years?
by tfb
Thu Jan 08, 2015 9:50 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA not associated with employer and FSA
Replies: 11
Views: 1147

Re: HSA not associated with employer and FSA

Goblue97 wrote:For the case of argument, let us assume my current health care plan meets the HSA requirements. What are my options for this year and next, thanks?

None. Having a general purpose FSA disqualifies you for both years.
by tfb
Wed Jan 07, 2015 4:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA not associated with employer and FSA
Replies: 11
Views: 1147

Re: Roll i401(k) to IRA each year?

retiredjg wrote:When it comes to Solo 401k, I think Fido has the more flexible product (although I'm not sure which might offer the Roth option).

Vanguard offers Roth; Fidelity does not.
by tfb
Tue Jan 06, 2015 5:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roll i401(k) to IRA each year?
Replies: 16
Views: 1136

Re: Roll i401(k) to IRA each year?

JamesSFO wrote:there is no qualifying event that would allow the distribution AFAIK.

Agree. Installment distribution or not, it has to be eligible for distribution first.
by tfb
Tue Jan 06, 2015 3:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roll i401(k) to IRA each year?
Replies: 16
Views: 1136

Re: Do you spend more when using credit cards?

The statements about overspending are not hearsay but are based on controlled experiments that produced statistically significant results. However, I don't think you will get accurate responses here. Overconfidence is a common cognitive bias that afflicts the Bogleheads as much as, if not more so t...
by tfb
Tue Jan 06, 2015 3:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you generally spend more when using credit cards?
Replies: 71
Views: 2745

Re: Post-tax 403(b) contribution to get employer match?

Bummer. The plan rules don't allow for in service distribution, so no mega-backdoor Roth for me. Make sure the person you ask understand you are asking about in-service distribution of post-tax dollars and earnings not in-service distribution of pre-tax dollars and earnings. Get the SPD and read it...
by tfb
Tue Jan 06, 2015 1:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Post-tax 403(b) contribution to get employer match?
Replies: 7
Views: 529

Re: HSA not associated with employer and FSA

Employed by Company that has no HSA option Current health insurance is high deductible plan (for HSA purposes) Have FSA at $2500 in 2015 and had FSA at $2500 for 2014 A high deductible alone doesn't make the plan HSA-eligible. It also has to meet some other rules, for instance no coverage for offic...
by tfb
Tue Jan 06, 2015 1:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA not associated with employer and FSA
Replies: 11
Views: 1147

Re: Sending 1099s for small business

It's been a long time since I've filled out the form, but it appears that the IRS still hasn't entered the 21st century and they still do not have an online way of doing this. I searched online and found this site https://www.track1099.com which seems to be exactly what I am looking for. Does anyon...
by tfb
Mon Jan 05, 2015 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sending 1099s for small business
Replies: 8
Views: 632

Was it a mistake to move into PenFed 5-year CDs a year ago?

Many on these forums bought PenFed 5-year CDs when they were at 3% a year ago. No doubt many also realize now that money left in the Vanguard Total Bond Market Index Fund returned more than 3% in 2014. I received these comments on my blog: At hindsight, what a blunder that I moved my funds from “Van...
by tfb
Mon Jan 05, 2015 10:36 am
 
Forum: Investing - Theory, News & General
Topic: Was it a mistake to move into PenFed 5-year CDs a year ago?
Replies: 55
Views: 4929

Re: Today is a Good Day to fund the 2015 IRA

Toons wrote:Just a friendly reminder,go ahead and fully fund that 2015 IRA if you have taken care of your 2014,why not?
Remember,,"Time Not Timing" :sharebeer

It looks like today, Jan. 5, is a better day than Jan. 2.
by tfb
Mon Jan 05, 2015 10:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Today is a Good Day to fund the 2015 IRA
Replies: 69
Views: 8150

Re: "The Most Successful Investors Leave Their Money Alone"

There are at least three reasons I can think of that make this true. Along the same lines: Fidelity did a study showing that Fidelity's most successful investors were those who had forgotten they had an investment account at Fidelity. I'm guessing another reason is that those who leave it alone or ...
by tfb
Sun Jan 04, 2015 12:17 pm
 
Forum: Investing - Theory, News & General
Topic: "The Most Successful Investors Leave Their Money Alone"
Replies: 30
Views: 5367

Re: 3-member LLC with a solo 401K?

Anyone know if I can I have a solo 401k for myself within a 3-member (owner) LLC consisting of myself, spouse, and non-related partner? The law allows. A plan can be more restrictive. If Fidelity's plan doesn't allow, but Vanguard's plan allows, they are both legal. The opportunity to participate m...
by tfb
Sun Jan 04, 2015 12:10 am
 
Forum: Personal Finance (Not Investing)
Topic: 3-member LLC with a solo 401K?
Replies: 16
Views: 1915

Re: Roth 401k + Roth IRA limits

My plan was to put this into the 401k as after tax contributions then dump it into the Roth as an in service distribution. When I learned of the company policy of suspending the company match for six months following an in service distribution that threw a wrench in my plan. You can do the in-servi...
by tfb
Fri Jan 02, 2015 12:35 am
 
Forum: Investing - Help with Personal Investments
Topic: Roth 401k + Roth IRA limits
Replies: 13
Views: 1099

Re: What dangers in DIY 401K?

I recently received an email from George Blower at My Solo 401K and he confirmed that it is possible to make an all employee after tax 401K which gets you to 53K Roth contributions (roth deferral of 18000, 5500 catchup, 29500 aftertax then in-plan rollover). This seems more like a mega-kick-down-th...
by tfb
Wed Dec 31, 2014 3:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: What dangers in DIY 401K?
Replies: 3
Views: 530

Re: Roth/Trad401k/taxable withdrawal impact on Soc Sec, ACA,

bhsince87 wrote:Does any one know of a "one stop" website or chart that has this info broken out by account type and benefit type?

You already have 2/3 of it. Roth withdrawals if qualified (after 59-1/2, first Roth > 5 years) don't count as income for any of these.
by tfb
Wed Dec 31, 2014 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth/Trad401k/taxable withdrawal impact on Soc Sec, ACA, etc
Replies: 2
Views: 266

Re: What dangers in DIY 401K?

Does anyone have any cautionary tales of DIY 401K? Warnings for non-accountant in uncharted waters? Hidden costs lurking? If you don't mind paying a modest fee, it's feasible. If you are afraid you might do something wrong, you can outsource the work to an administrator. I will have a blog article ...
by tfb
Wed Dec 31, 2014 12:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: What dangers in DIY 401K?
Replies: 3
Views: 530

Re: After tax 401K - Am I eligible for rollover to ROTH IRA?

Don't designate it as Roth. The after-tax contributions will come with some earnings. You pay tax on the earnings (if small) or your roll the earnings into a traditional IRA (if large). Now, I am confused. I thought that I should designate the contributions as ROTH , which I thought was After-Tax. ...
by tfb
Wed Dec 31, 2014 11:36 am
 
Forum: Investing - Help with Personal Investments
Topic: After tax 401K - Am I eligible for rollover to ROTH IRA?
Replies: 5
Views: 700

Re: Formula for dividend tax drag?

A cumulative difference of 4.5% over 30 years doesn't seem that much to me. A dividend tax rate of 28% would increase the cumulative dividend drag to 11.5%, which starts to become meaningful, although would be overcome by a small change in annual return. If you are going to put it in a spreadsheet,...
by tfb
Wed Dec 31, 2014 10:13 am
 
Forum: Investing - Theory, News & General
Topic: Formula for dividend tax drag?
Replies: 36
Views: 2118

Re: Solo 401k in-service Rollover

Hm, after some research, it appears that Electrive Deferrals are excluded from from Eligible Rollover Distribution (CFR 1.402(c)-2 A3 & A4). However, nonqualified distributions appears to be allowed by law (CFR 1.402A-1 A3). This Investopedia article provides a dummy explanation: Qualified or n...
by tfb
Wed Dec 31, 2014 10:05 am
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401k in-service Rollover
Replies: 3
Views: 427

Re: After tax 401K - Am I eligible for rollover to ROTH IRA?

Wouldn't this simple statement mean that every year, I can apply for withdrawal of my 401K after-tax contributions and roll them over into my Vanguard ROTH IRA? I do not believe it is that simple. Or maybe it is. Please advise. Yes it's that simple. Don't designate it as Roth. The after-tax contrib...
by tfb
Wed Dec 31, 2014 10:00 am
 
Forum: Investing - Help with Personal Investments
Topic: After tax 401K - Am I eligible for rollover to ROTH IRA?
Replies: 5
Views: 700

Re: Formula for dividend tax drag?

Under other assumptions, the difference could be meaningful. The only way I have to get comfortable that the difference is small is to run through the numbers using the more complete formula. Small differences accumulate over longer time. If you change the number of years from 10 to 30, the formula...
by tfb
Tue Dec 30, 2014 9:02 pm
 
Forum: Investing - Theory, News & General
Topic: Formula for dividend tax drag?
Replies: 36
Views: 2118

Re: Have you donated stocks/funds to a charity?

acegolfer wrote:It's a tax saving strategy. I have never done it but I plan to do with my Vanguard mutual funds in 2015. Any tips?

Search the forums. I remember reading that Vanguard requires that the receiving organization establishes an account at Vanguard.
by tfb
Tue Dec 30, 2014 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you donated stocks/funds to a charity?
Replies: 7
Views: 912

Re: Solo 401k in-service Rollover

a Recipient may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an Eligible Rollover Distribution that is equal to at least $500 (or such lesser amount if the Plan Administrator permits in a uniform and nondiscriminatory manner) paid directly to an ...
by tfb
Tue Dec 30, 2014 8:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401k in-service Rollover
Replies: 3
Views: 427

Re: Post-tax 403(b) contribution to get employer match?

Should I contribute post-tax dollars to the 403(b) to maximize employer match? Yes. The match will be pre-tax. Chances are you can roll over the post-tax dollars to a Roth IRA, which stops the clock on taxing the earnings. Ask you plan administrator. Thanks tfb. Is doing that Roth conversion the &q...
by tfb
Tue Dec 30, 2014 7:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Post-tax 403(b) contribution to get employer match?
Replies: 7
Views: 529

Re: Mortgage Question

Kjmiller1984 wrote:going from 30 year fixed to 30 year fixed. Current rate is i believe 4.15% Penfed is offering 3.625 at 0 points and 3.375 at 1.5 points.

Plus 1% origination fee and no credit for closing cost. Not the best rate+fees IMO. https://penfed.org/30-Year-Fixed-Mortgage/
by tfb
Tue Dec 30, 2014 7:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Question
Replies: 10
Views: 1027

Re: Post-tax 403(b) contribution to get employer match?

Compound wrote:Should I contribute post-tax dollars to the 403(b) to maximize employer match?

Yes. The match will be pre-tax. Chances are you can roll over the post-tax dollars to a Roth IRA, which stops the clock on taxing the earnings. Ask you plan administrator.
by tfb
Tue Dec 30, 2014 7:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Post-tax 403(b) contribution to get employer match?
Replies: 7
Views: 529

Re: Non-Roth non-deductible 401k limits

Welcome to the forum. A few pointers will help you sort these out. (1) A 457 plan is completely separate. It doesn't interact with any of these calculations. (2) The $53,000 limit is a limit imposed on the employer. Each unrelated employer gets its own $53,000 limit. Note the emphasis on unrelated. ...
by tfb
Tue Dec 30, 2014 4:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Non-Roth non-deductible 401k limits
Replies: 2
Views: 378
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