Search found 183 matches

Return to advanced search

Re: Going from W-2 to 1099

Do some research on a solo 401k, that's definitely what you'll want. I think every couple should strive to have one spouse go 1099 once kids come around so that they can reduce their work load and stay at home with the kids. Even if your wife only makes 15k a year, just pop it into a solo 401k and y...
by wholeinone04
Thu Aug 14, 2014 6:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Going from W-2 to 1099
Replies: 27
Views: 1864

Re: Asset allocation for house funds while renting

Yea I mean probably not the best idea to invest in stocks if you need the money within 5 years. Sucks but it's the truth. Maybe consider putting additional money towards retirement and if the market goes up pull some out, otherwise just let it ride.
by wholeinone04
Tue May 27, 2014 2:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Asset allocation for house funds while renting
Replies: 5
Views: 469

Re: Asset allocation for house funds while renting

I just posted in another thread on this subject: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=139379 There's not a whole lot you can do if you need money within 5 years, but since you have the money to pay cash if you wanted to take on more risk you could invest in some bonds/stocks. If y...
by wholeinone04
Wed May 21, 2014 6:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Asset allocation for house funds while renting
Replies: 5
Views: 469

Re: Advice on investing ~$100,000

Let me make sure I've got this straight. You've got 205k in equity, 25k in EF, ~25k in IRA's, and no other debt (other than a mortgage)? You guys are looking good, could bump up EF a bit, and maybe go a little more aggressive with your AA depending on risk tolerance and job stability (single or dual...
by wholeinone04
Wed May 21, 2014 6:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice on investing ~$100,000
Replies: 9
Views: 1285

Re: Investing Money for House Purchase

Friend - you have been taken by a con man, i mean financial planner. The good news is you can change course now and consider yourself fortunate to have learned this lesson on the cheap. Many here were not as fortunate. Let me explain: Compare: BLPCX (American Balanced C): 70% Equities, 30% bonds Va...
by wholeinone04
Wed May 21, 2014 5:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing Money for House Purchase
Replies: 21
Views: 1908

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

Clarification. If I do NOT sign up for COBRA now (or by May 31 which is my last day of health care from my employer), I would be covered through July 31. If I want to use Cobra, then, from August 1 through the end of the calendar year (as the benefits are better than ACA policy due to my not qualif...
by wholeinone04
Tue May 20, 2014 4:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gave two weeks notice a week ago - benefits wrapup questions
Replies: 22
Views: 3693

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

[quote="Near retirement" So, you are using the 60 day window (not paying for .cobra in the first 2 months) to game the system a little? I want to bridge to ACA (will begin process in (November). Any advice RE: timing of applying for .cobra and ACA in order that air am not uncovered for any...
by wholeinone04
Tue May 20, 2014 4:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gave two weeks notice a week ago - benefits wrapup questions
Replies: 22
Views: 3693

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. ...
by wholeinone04
Mon May 19, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gave two weeks notice a week ago - benefits wrapup questions
Replies: 22
Views: 3693

Re: What Happens to an HSA Once You Get Married?

Thanks for the replies, my employer contribution (for her) will be pro-rated but you guys were right, my contribution limit set by the IRS goes up from $3,300 to $6,550. Hello $3,250 more in triple tax free savings! :) So in case anyone is wondering the numbers look like this if we were to get marri...
by wholeinone04
Fri May 09, 2014 5:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Happens to an HSA Once You Get Married?
Replies: 3
Views: 596

What Happens to an HSA Once You Get Married?

Right now I've got about 15k in my HSA and I'm currently under hdhp/hsa combo through my employer. I'll be getting married in a couple months and my fiancee will be joining my health plan. She's in school right now so she gets healthcare (regular ppo plan) through her school (but has to pay for it)....
by wholeinone04
Tue May 06, 2014 3:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Happens to an HSA Once You Get Married?
Replies: 3
Views: 596

Re: Starting Business with Capital vs. Investing in Total Ma

The answer is: it depends. If you don't know anything about building houses and you try to start a construction company than you're probably going to fail. In that case, I'd go TM. But if you've been building houses all your life and there's demand you'll have a better chance for success and your re...
by wholeinone04
Fri May 02, 2014 6:51 pm
 
Forum: Investing - Theory, News & General
Topic: Starting Business with Capital vs. Investing in Total Market
Replies: 6
Views: 466

Re: How do you walk away from a good job?

I love skiing. But I wouldn't want to ski 40 hours/wk for 11 months of the year. Unfortunately with jobs, there are a lot that will not let you scale back to 24 hours/week I always find this conversation confusing. I mean, if you love it so much you'd do it for free, then why leave? If you don't lo...
by wholeinone04
Tue Apr 29, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do you walk away from a good job?
Replies: 38
Views: 5423

Re: Looking for some honest feedback

You really have nothing to worry about, for now at least. Even though you don't live in NYC, NYS is generally more expensive when it comes to housing right? I'm in CA so I know all about buying a 2 bedroom condo in a modest area for 350k haha. I can't even afford to live in areas that I don't want t...
by wholeinone04
Tue Apr 29, 2014 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Looking for some honest feedback
Replies: 8
Views: 822

Re: How do you walk away from a good job?

I always find this conversation confusing. I mean, if you love it so much you'd do it for free, then why leave? If you don't love it that much then why would you stay one minute past the time you have to? Haha I was thinking the exact same thing. Most people work b/c they need the money to pay for ...
by wholeinone04
Tue Apr 29, 2014 2:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do you walk away from a good job?
Replies: 38
Views: 5423

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: 49
Views: 4935

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: 22
Views: 3693

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: 7666

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: 2304

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: 649

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: 19
Views: 2591

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: 2586

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: 1384

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: 764

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: 764

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: 1384

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: 7666

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: 1384

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: 1274

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: 4902

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: 1274

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: 593

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: 593

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: 593

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: 593

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: 553

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: 1827

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: 1926

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: 553

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: 665

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: 232

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: 4122

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: 2294

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: 4122

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: 9509

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: 4122

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: 2294

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: 9509

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: 9211

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: 9509

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: 9509
Next

Return to advanced search