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Re: New Baby Girl - What Can/Should We Do?

Looks like you already switched to traditional TSP - that's a good idea. I come from the other end on the 529 spectrum since I just graduated 5 years ago and I can tell you it was awesome to have my school paid off when I graduated(combo of grants and parents). I bought a house, started maxing out r...
by wholeinone04
Tue Apr 22, 2014 4:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Baby Girl - What Can/Should We Do?
Replies: 31
Views: 1944

Re: Gave two weeks notice a week ago - benefits wrapup quest

COBRA is a total rip-off but as others have pointed out you have 60 days to decide if you want to activate it or not. You can retroactively activate at any time during that 60 day window. So if you have unavoidable medical bills, just activate your COBRA afterwards and you'll be covered just fine. M...
by wholeinone04
Tue Apr 22, 2014 3:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gave two weeks notice a week ago - benefits wrapup questions
Replies: 8
Views: 1680

Re: 15 year vs 30 year fixed

Last thing. 10/1 is kind of a weird term, most ARMS are 5/1 or 7/1 so make sure you get an appropriate rate. IE calculate the break even point between going with a 7/1 ARM at 3%(resetting to max rate for 8,9,10 years) vs a 10/1 ARM at 3.25% if there's that big of a difference. I remember when I did ...
by wholeinone04
Fri Apr 18, 2014 2:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 year vs 30 year fixed
Replies: 62
Views: 5794

Re: HSA cost benefit analysis

All I needed to see was the premium savings(2160-771.60 = 1388.40) plus the employer contribution($1,000), that's $2388.40 which is almost your deductible of $2,500? Am I missing something? Contribute your premium savings to your HSA every year and you're getting a free $2,388.40 every single year! ...
by wholeinone04
Tue Apr 15, 2014 6:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA cost benefit analysis
Replies: 23
Views: 1664

Re: Tax Treatment of HSA in California

I'm also from CA and I recently invested my HSA money in 2013. I always assumed that tax treatment is exactly the same as a taxable account when it comes to your CA taxes. I'm assuming TT will take care of all the calcs for me and I'll just double check next year when I do my 2014 taxes. My investme...
by wholeinone04
Tue Apr 15, 2014 5:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Treatment of HSA in California
Replies: 9
Views: 494

Re: All-inclusive resort vacation for $2K??

I don't know if you have the budget to go to somewhere like Jamaica. I'd look for somewhere in Mexico. It definitely helps that you're going off-peak(right before summer) and I'd look for a travelzoo deal or groupon/living social type deal. If you live near a big airport you'll be able to pay close ...
by wholeinone04
Tue Apr 15, 2014 4:51 pm
 
Forum: Personal Consumer Issues
Topic: All-inclusive resort vacation for $2K??
Replies: 16
Views: 1683

Re: Wasting money on rent or buy in California

700 sq ft for 4 people?? Are you kidding me? That's barely enough for 2 people. I would definitely rent but find a cheaper area and rent a 3 bedroom 1500 sq ft townhome. You have a solid DP saved up but CA real estate is much different than Texas as you will soon find out :)
by wholeinone04
Fri Apr 11, 2014 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wasting money on rent or buy in California
Replies: 20
Views: 2253

Re: I'm 23. What else should I be doing financially? TIA.

Yea don't even worry about LLC's for now, that is a more advanced real estate topic. Work on maxing our retirement/savings accounts even if that means you'll save a little less for real estate. Maybe look for a second source of income and use all that money to fund your downpayment fund. Could be so...
by wholeinone04
Wed Apr 09, 2014 11:16 am
 
Forum: Personal Finance (Not Investing)
Topic: I'm 23. What else should I be doing financially? TIA.
Replies: 10
Views: 1237

Re: Reviewing my insurance now that I have money

An umbrella liability premium just isn’t that significant (ours is $105 a year for a$1M limit), and along with the insurance limits you get a team of insurance attorneys seriously interested in defending you against a lawsuit for a fraction of the cost you would have to pay to hire lawyers yourself...
by wholeinone04
Tue Apr 08, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reviewing my insurance now that I have money
Replies: 6
Views: 689

Reviewing my insurance now that I have money

I've never been a big fan of insurance since it seems whenever you need them to pay they always try to weasel out of it. But now that my NW is moving up to a more substantial amount I want to make sure I'm adequately covered. I know I can't prepare for everything but in this sue happy society that w...
by wholeinone04
Tue Apr 08, 2014 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reviewing my insurance now that I have money
Replies: 6
Views: 689

Re: I'm 23. What else should I be doing financially? TIA.

Yes 401k max is $17,500 per year per person. If you can do it now, I'd say do it since once you pay taxes that money is gone forever. If you delay taxes there are always things you can do to lower your tax burden. For example, rolling over part of your wife's 401(k) to a roth once she leaves her emp...
by wholeinone04
Mon Apr 07, 2014 10:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm 23. What else should I be doing financially? TIA.
Replies: 10
Views: 1237

Re: 15 year vs 30 year fixed

If I was in this situation there's no way I'd go for a 30 year mortgage. I like the ARM option since it will give you a higher tax deduction vs 15 year option and leave you more money/flexibility to pay off student loans. This advice really stems from the fact that your income is so high and you'll ...
by wholeinone04
Mon Apr 07, 2014 6:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 year vs 30 year fixed
Replies: 62
Views: 5794

Re: I'm 23. What else should I be doing financially? TIA.

FYI, I write a personal finance blog for young professionals and you guys are off to a great start. I'd probably bank any raises/annual merit increases straight to 401(k) until you have that maxed out. If you can get 401(k)'s maxed out within a few years plus Roth you will never even have to worry a...
by wholeinone04
Mon Apr 07, 2014 5:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm 23. What else should I be doing financially? TIA.
Replies: 10
Views: 1237

Re: Best Mortgage Type for 1st-timers: 30-YR Fixed?

I think people are way too conservative when it comes to mortgages. Fact: the average length of homeownership is 7 years. Why do most people go for 30 year mortgages instead of a 7/1 ARM? I don't know. People move in and out of condos a lot more frequently than houses. There's about a 50/50 chance ...
by wholeinone04
Tue Mar 25, 2014 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Mortgage Type for 1st-timers: 30-YR Fixed?
Replies: 19
Views: 1188

Re: When does depreciating a rental property save on taxes?

Depreciation is complex - if you're going to do it yourself get NOLO's Landlord's Guide to Deductions as someone else suggested. Even if you hire a CPA, make sure they are one that specializes in real estate. I met with two highly rated CPA's(but not RE specialists) and the first wasn't sure about t...
by wholeinone04
Tue Mar 25, 2014 4:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: When does depreciating a rental property save on taxes?
Replies: 70
Views: 4283

Re: Best Mortgage Type for 1st-timers: 30-YR Fixed?

I think people are way too conservative when it comes to mortgages. Fact: the average length of homeownership is 7 years. Why do most people go for 30 year mortgages instead of a 7/1 ARM? I don't know. Also remember that since you're getting a lower rate, the break even period will be around 2-3 yea...
by wholeinone04
Tue Mar 25, 2014 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Mortgage Type for 1st-timers: 30-YR Fixed?
Replies: 19
Views: 1188

Re: Roth Conversion While Wife is in Medical School?

1. Thanks for the Kitces article - it all makes sense now. I already satisfy the first Roth 5 year rule since I made my first Roth contribution over 5 years ago. And it looks like even after I convert I'd still be able to take my 25k(of the 35k current roth balance) contributions out if I needed to...
by wholeinone04
Fri Mar 21, 2014 11:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion While Wife is in Medical School?
Replies: 12
Views: 539

Re: Roth Conversion While Wife is in Medical School?

Did you max a Roth IRA for 2013? If not, you still have time (until April 15th). Did she have any earned income in 2013? Re: your last two posts. You're right there isn't much difference between a regular 401(k) and a Roth 401(k) - I was comparing roth ira vs roth 401(k) in my head. Yes I meant 15%...
by wholeinone04
Thu Mar 20, 2014 6:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion While Wife is in Medical School?
Replies: 12
Views: 539

Re: Roth Conversion While Wife is in Medical School?

I think you're on track here with the strategy. (I didn't verify your specific calculations.) It looks like you can convert around $34k each year, you have $85k (plus hopefully growth) to convert, and 4 years to do it. How about converting as much as possible as fast as possible (without hitting th...
by wholeinone04
Thu Mar 20, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion While Wife is in Medical School?
Replies: 12
Views: 539

Roth Conversion While Wife is in Medical School?

Hi, My fiancee(getting married this year) just started med school so she isn't working but I am. Last year I made 80k and that put me right in the heart of the 25% fed tax bracket plus 9.3% state(CA) tax bracket after my deductions(401k max, hsa max, std deduction, pers exemption) since I filed sing...
by wholeinone04
Thu Mar 20, 2014 1:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion While Wife is in Medical School?
Replies: 12
Views: 539

Re: Doing my Taxes Myself(for now) but Need a Good Tax Forum

Tax is a very complicated area and there are nuances based upon both tax law and each individual's particular circumstances. That makes the value of online discussions limited unless you know enough to verify what you read. I'm a CPA that works solely on income tax related matters. I don't even tru...
by wholeinone04
Thu Mar 20, 2014 2:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Doing my Taxes Myself(for now) but Need a Good Tax Forum
Replies: 4
Views: 543

Re: Do you have a Tax Advisor?

Although I consider myself reasonably tax-savvy, I've used a CPA for many years. Now that I no longer own two businesses, I could probably do my own taxes fairly easily. But I choose not to do so for the same reason that I no longer repair my own car, install my own water heater or paint my own hom...
by wholeinone04
Thu Mar 20, 2014 2:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you have a Tax Advisor?
Replies: 21
Views: 1656

Re: Should I continue to do Roth 401k and Roth IRA?

Everyone always argues about roth vs 401k but the truth is you won't know until it's too late. You might have a good idea of where your income will be in retirement relative to where it is but you have no idea where tax rates will be. So why worry about it? Do the same thing that BH's preach about s...
by wholeinone04
Thu Mar 20, 2014 2:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I continue to do Roth 401k and Roth IRA?
Replies: 25
Views: 1427

Doing my Taxes Myself(for now) but Need a Good Tax Forum

I've been doing a lot of researches into taxes lately, duh it's tax season and I just don't know if I can bring myself to pay a CPA. I make less than 100k but I have w2, small business(es) and a rental property plus all the other regular stuff so it's not the easiest return(not the hardest either th...
by wholeinone04
Wed Mar 19, 2014 9:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Doing my Taxes Myself(for now) but Need a Good Tax Forum
Replies: 4
Views: 543

Re: Need help with condo rental depreciation basis

Hey Bud, You're in luck, I've been doing research into this exact question. I converted my primary residence(condo) into a rental in July of 2013 and am now figuring out the taxes for it all. Depreciation is a bitch but once you understand how it all works it can really benefit you. The first place ...
by wholeinone04
Tue Mar 11, 2014 9:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help with condo rental depreciation basis
Replies: 12
Views: 459

Growth of 10k of PGX on Morningstar

There used to be an option on Morningstar that allowed you to plot the growth of $10k of a certain fund, stock, etf, whatever and also compare it to other stocks or benchmarks. I can not for the life of me figure out how to get this option back. I've done it several times in the past but the last fe...
by wholeinone04
Mon Mar 03, 2014 11:40 pm
 
Forum: Investing - Theory, News & General
Topic: Growth of 10k of PGX on Morningstar
Replies: 2
Views: 205

Re: How to Convert Someone That Doesn't Want to Be Converted

This reminds me of when I was a young man working my way through college working at McDonald's. I was sent to the Basic Operation Course in Atlanta to train for a week to become a better assistant manager. The course director asked who thought they were good at motivating their crew. I threw my han...
by wholeinone04
Tue Feb 25, 2014 2:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Convert Someone That Doesn't Want to Be Converted
Replies: 50
Views: 2966

Re: Real estate rental w Magi >150k

California real estate is a very strange thing. So true. From the time we bought our first, very modest, house in Sunnyvale (in 1973), the real estate market has never ceased to amaze. As matter of labor or raw materials, it cannot be justified. Carpenters do not charge that much more here than in ...
by wholeinone04
Tue Feb 25, 2014 2:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate rental w Magi >150k
Replies: 20
Views: 1847

Re: How to Convert Someone That Doesn't Want to Be Converted

Lol'ing at some of the responses. Trust me, I'm not going to lose sleep over this or anyone else for that matter but I think it's pretty selfish to only think of yourself when you know you can help someone. If you have information that can really help someone(and you know in 30 years your friend wil...
by wholeinone04
Mon Feb 24, 2014 6:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Convert Someone That Doesn't Want to Be Converted
Replies: 50
Views: 2966

Re: What's the Appropriate Net Worth by % for a 27 year old?

I keep telling anyone who will listen it's not that hard to save up this type of money. Get a STEM degree from a state school and you'll be guaranteed a job when you graduate making 60-80k, 10% raise within 1 year, 3% raises per year, another 10% bump after 4-6 years and then nothing ever again :) ...
by wholeinone04
Mon Feb 24, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8744

How to Convert Someone That Doesn't Want to Be Converted

I have a very good friend who is currently paying a FA at Wells Fargo .85% a year for 'financial advice' and I don't know how to convince him to take more control of his investments. I took a look at his portfolio for him and he has done a great job saving after about 5 years of working. He has 40k ...
by wholeinone04
Mon Feb 24, 2014 2:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Convert Someone That Doesn't Want to Be Converted
Replies: 50
Views: 2966

Re: Real estate rental w Magi >150k

Great response by jim but I thought I'd add in my two cents as I just converted my condo to a rental property last year and am now dealing with the tax issues right now. The 25k passive income loss is phased out at 100-150k so just getting under 150k won't necessarily make a huge difference. A lot o...
by wholeinone04
Mon Feb 24, 2014 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate rental w Magi >150k
Replies: 20
Views: 1847

Re: What's the Appropriate Net Worth by % for a 27 year old?

I don't think net worth percentages matter at all. The majority of Americans hold a huge portion of their net worth in real estate equity, particularly when they are younger and haven't accumulated much in retirement or investments yet. At the other end of the spectrum, many of the most wealthy/suc...
by wholeinone04
Fri Feb 21, 2014 1:12 am
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8744

Re: taxes done and…why is my spouse working?

I think the best idea is for her to quit but find a hobby/business that can provide a little income. If she likes writing, start a blog. If she likes doing artwork, sell her stuff on Etsy. You'd be surprised how much money you can make online doing a relatively little amount of work. There is a lot ...
by wholeinone04
Thu Feb 20, 2014 6:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 8928

Re: What's the Appropriate Net Worth by % for a 27 year old?

Not really a question of paying down debt vs. saving for retirement since I'm already maxing out 401k, Roth IRA and HSA(and paying for med expense out of pocket). Seems like most people are saying just save/invest and don't worry about the percentages but at some point that advice has to be flawed r...
by wholeinone04
Thu Feb 20, 2014 5:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8744

What's the Appropriate Net Worth by % for a 27 year old?

I've been looking into a new RE investment lately for about 50k here in SoCal and it's making me wonder what is an appropriate net worth by percentage. I'm 27, about to be married with a fiancee in med school taking on lots of debt :) Currently, my net worth by % is: retirement(401k, roth ira, hsa -...
by wholeinone04
Thu Feb 20, 2014 3:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 8744

Re: HSA Bank to ElfCU for free?

I suppose they make money on some people's accounts that hold large amounts of cash(since they can loan that money out like normal banks do) and lose money on other people's accounts(like mine if I invest all the money in TDA). Not sure though, anyone have a better answer?
by wholeinone04
Mon Jan 27, 2014 6:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Bank to ElfCU for free?
Replies: 17
Views: 1367

Re: My First Home Purchase!

3-4 years is cutting it close if you plan on living then renting out. I don't think being a landlord is very difficult, worst case you hire a prop management company for 8-10% of monthly rent. Once you get the property rented out though, things are easy. You can call maintenance people, get new appl...
by wholeinone04
Thu Jan 23, 2014 3:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: My First Home Purchase!
Replies: 20
Views: 1777

Re: Reimbursing myself from HSA

Quick question that I'm almost 100% I have the right answer but just wanted to verify (I did Google but didn't find an exact answer). Today I pay for my son's braces - putting it on a card with 0% interest so will be paying it off over the next 12 months. I want to try to pay for most of it without...
by wholeinone04
Thu Jan 23, 2014 3:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reimbursing myself from HSA
Replies: 2
Views: 312

Re: New job/health plan a month after coverage ends, pay COB

Yea absolutely not. COBRA is a total rip-off unless you get laid off and your company covers it for you :) Take the 2 free months of COBRA and only pay after/if you need to go to the hospital and the bill is greater than your premium would be. http://yourpfpro.com/get-2-free-months-health-insurance-...
by wholeinone04
Thu Jan 23, 2014 3:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: New job/health plan a month after coverage ends, pay COBRA?
Replies: 11
Views: 599

Re: HSA Bank to ElfCU for free?

I think you're missing a key option: Use HSA Bank, invest all of the money there within in low cost Vanguard ETFs, pay the $66/year. This is what I currently do and my funds more than cover the $66/yr. Unless the 5k is a part of your emergency fund, why leave that money sitting at 0.3% for a mere $...
by wholeinone04
Tue Jan 21, 2014 7:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Bank to ElfCU for free?
Replies: 17
Views: 1367

Re: HSA Bank to ElfCU for free?

I see your point. What I meant was if you have a family coverage (i.e. eligible for a maximum contribution) and you're planning to use your HSA for long-term investing then in a few years almost all your HSA money will be invested at TDA and the fact that you need to keep 5K in a core won't bother ...
by wholeinone04
Tue Jan 21, 2014 3:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Bank to ElfCU for free?
Replies: 17
Views: 1367

Re: HSA Bank to ElfCU for free?

My HSA is also with HSABank, 5K in the core account and ~15K is invested at TDA. If i were you I'd do nothing. True, the credit union pays more in the core account, but this rate is not guaranteed to stay that high. I've seen this happening many times with high-yield savings accounts and got tired ...
by wholeinone04
Tue Jan 21, 2014 2:25 am
 
Forum: Investing - Help with Personal Investments
Topic: HSA Bank to ElfCU for free?
Replies: 17
Views: 1367

HSA Bank to ElfCU for free?

I read TFB's article today: http://thefinancebuff.com/best-hsa-provider-for-investing-hsa-money.html and am ready to switch. I have about 10k with HSA Bank(half in a savings account and half in an investment account) and I want to transfer it to ElfCU since they have no fees on savings/investing acc...
by wholeinone04
Mon Jan 20, 2014 5:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Bank to ElfCU for free?
Replies: 17
Views: 1367

529 Withdrawal for Fiancee

I have a small amount in a NY 529 plan that I own(I'm in CA) and I'd like to use the funds to pay for a very small portion of my fiancee's med school tuition. From what I've read, I need to change the beneficiary to her name and then request a check. NY 529 told me that if I request the money as a c...
by wholeinone04
Thu Dec 05, 2013 7:31 pm
 
Forum: Investing - Theory, News & General
Topic: 529 Withdrawal for Fiancee
Replies: 1
Views: 208

Re: Potential Real Estate Partnership: Good or Bad Idea?

I have a friend of a friend who I've known for a couple years but never actually met in person - just e-mailed back and forth and talked on the phone a couple times. He's a real estate investor in Texas and I'm considering investing with him. What am I missing in this picture? RM I believe he would...
by wholeinone04
Wed Dec 04, 2013 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Potential Real Estate Partnership: Good or Bad Idea?
Replies: 14
Views: 989

Re: Potential Real Estate Partnership: Good or Bad Idea?

There are a few red flags that I see in this scenario. It sounds like you live in San Diego and the friend of the friend lives in Texas so the properties would be purchased in Texas? How much do you know about that real estate market? Would you ever visit the properties? How would you know that the...
by wholeinone04
Wed Dec 04, 2013 6:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Potential Real Estate Partnership: Good or Bad Idea?
Replies: 14
Views: 989

Potential Real Estate Partnership: Good or Bad Idea?

I have a friend of a friend who I've known for a couple years but never actually met in person - just e-mailed back and forth and talked on the phone a couple times. He's a real estate investor in Texas and I'm considering investing with him. Here's what the investment looks like: he finds a propert...
by wholeinone04
Tue Dec 03, 2013 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Potential Real Estate Partnership: Good or Bad Idea?
Replies: 14
Views: 989

Re: How to Find a Low Dividend Yield Fund

Nice, very helpful. Thanks guys!
by wholeinone04
Thu Oct 31, 2013 5:49 pm
 
Forum: Investing - Theory, News & General
Topic: How to Find a Low Dividend Yield Fund
Replies: 5
Views: 594

How to Find a Low Dividend Yield Fund

I know what dividend yield is(I think). It's the annual dividend divided by the stock's price. But how do I compare dividend yields among funds? I'm looking for a low div yield fund for my HSA(to avoid taxes in CA) with TDA(on their list of no fee ETF's) and I'm not really sure how to compare divide...
by wholeinone04
Mon Oct 28, 2013 10:57 pm
 
Forum: Investing - Theory, News & General
Topic: How to Find a Low Dividend Yield Fund
Replies: 5
Views: 594
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