Search found 594 matches

by Texas hold em71
Sun Feb 07, 2016 11:42 am
Forum: Personal Finance (Not Investing)
Topic: 529 Question
Replies: 45
Views: 3026

Re: 529 Question

I think you have gotten this answer already but I'll second or third it. We saved enough in 529s to fund our state flagship. We front loaded it as described above but that turned out to be a bad idea as we did it in April 2007. It came back but losing 40 percent of our kid's college fund felt a whole lot worse than losing 40 percent of our retirement. Money is money but... We double check the growth of the account versus the growth of the cost of our flagship every year and top it up if needed. We moved it to more conservative investments as they got older. Some people don't do that, but I still remember 2008 and how I felt. It damages the tax advantage of a 529 but that is why behavioral finance is a huge field of study. I figure I can aff...
by Texas hold em71
Tue Feb 02, 2016 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Anybody budget for daycare like it is college?
Replies: 54
Views: 5915

Re: Anybody budget for daycare like it is college?

Depending on where you live 5th grade is pretty early to be home after school alone. It isn't so much being home that is the issue but getting there and getting back and forth to after school activities. If there is a safe path to walk to and from school, you still have weather issues to contend with and carrying backpacks and sports equipment/instruments. If there is bus service, does it run once only or is there an early/late bus for kids in activities? Have I talked about summer day camps etc.? In middle school years, the options for daycare drop dramatically and things get hairy. It was a killer for many of my working parents friends. You either alter your work hours or piecemeal something together. We saw many a disappointed dad who th...
by Texas hold em71
Mon Feb 01, 2016 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: 401k - Highly Compensated Employee?
Replies: 27
Views: 8056

Re: 401k - Highly Compensated Employee?

Congrats. You have arrived. You are what the rest of the world considers rich.

Read about back door Roth's

Open a taxable account. Now you'll understand all those TLH threads.

Come back in a few years when you find out the employer can only match your contribution on a certain amount of income. I think it's 250K now?
by Texas hold em71
Mon Feb 01, 2016 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Anybody budget for daycare like it is college?
Replies: 54
Views: 5915

Re: Anybody budget for daycare like it is college?

Who is going to pick them up at 3:30 when school gets out? If you are planning to use daycare, look into how much it will cost for after school care. It will be less than full time care but it will still cost you. And then there are the soccer, baseball, basketball leagues or dance lessons and gymnastics and piano lessons, etc. :shock: :shock: No, we didn't approach it the way you are, but that is because we didn't really have the money to. At that point, we saved for retirement and everything else was pay as you go. We also figured if someone quit working then daycare would go away between the stay at home spouse and grandparents etc. I don't think there is anything wrong about what you are proposing as long as you don't think the beginnin...
by Texas hold em71
Sat Jan 30, 2016 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Public school or private school (with school data)
Replies: 102
Views: 12694

Re: Public school or private school (with school data)

Your numbers don't adjust for socio-economic status of the student as you point out. Based on what you are saying about the public school that may not matter since you are in an affluent area. Does the private school accommodate students with learning issues (ADHD, ADD, dyslexia, etc.)? If they do not do so, then they are screening the kids out who might have other reasons for not performing as well. If they require an extrance exam or certain test scores to get in, ditto. Public schools take everyone and are obligated to get everyone to the national and state standards. Even with the dismantling of No Child Left Behind, that tenet seems to be holding on. No longer are public schools rewarded for bumping up the scores of the top students an...
by Texas hold em71
Sat Jan 30, 2016 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Tip on an older HP Printer
Replies: 10
Views: 2028

Re: Tip on an older HP Printer

I cuss HP regularly. We go through a household printer every two years or so. I don't bother to stock up on ink because when I do sure enough the thing dies and the new one doesn't use the same ink. They don't seem to have any worthy competition or I'd stop buying their printers to begin with.
by Texas hold em71
Sat Jan 30, 2016 10:42 am
Forum: Personal Finance (Not Investing)
Topic: What age did you start maxing out your retirement contributions?
Replies: 65
Views: 8512

Re: What age did you start maxing out your retirement contributions?

When I was 28, because I changed jobs and got a very large increase in pay. Since we were not used to the money, we were able to bump up from where we had been contributing to the max without feeling it and still have some money left over.
by Texas hold em71
Sat Jan 30, 2016 10:33 am
Forum: Personal Finance (Not Investing)
Topic: I got let go yesterday
Replies: 45
Views: 11663

Re: I got let go yesterday

Sorry this happened. Could you leverage your expertise but in a different role?

With the Flint water crisis, it sounds like we'll all be hearing about the quality of our water infrastructure a lot more. I know very little about that industry but it seems like water infrastructure consulting may be a bit of a booming business in the next few years. Are there companies that do that- Help cities and other governments know whether their water infrastructure is sound, recommend replacements and enhancements?
by Texas hold em71
Sat May 30, 2015 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Congratulations to the class of 2015
Replies: 12
Views: 2366

Re: Congratulations to the class of 2015

http://www.chicagotribune.com/news/colu ... olumn.html

Wear sunscreen. Floss. Be kind to your knees- you will miss them when they're gone.
by Texas hold em71
Wed Feb 18, 2015 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Prorating Tax Refund with Dear Wife
Replies: 18
Views: 2650

Re: Prorating Tax Refund with Dear Wife

Given the recent reconciliation and desire not to argue about money, I would let her have the whole refund. Where it might get dicey is if money were owed at tax time. At that point, someone has to write a check. It seems she is getting all the tax benefit of the home interest and taxes deduction while you pay her rent that covers those costs to some extent. Not a real difference for you since you would be paying rent somewhere, but she would not get the same deal with a real renter. She'd lose part of that rent to taxes. Of course, it sounds like she is the only one on the hook for those bills and you could stop paying her without any credit impact to you. I agree with Meg that it seems everyone I know who splits the finances ends up with ...
by Texas hold em71
Sat Feb 07, 2015 7:02 am
Forum: Personal Investments
Topic: First job, first everything
Replies: 23
Views: 2182

Re: First job, first everything

no one can answer the asset allocation question for you. The best funds in that line up are the vanguard total bond fund and the S&P 500 fund. How much to allocate to each is going to require some homework for you. Start by reading the wiki on this site. It will refer you to books as well. You are young so a higher allocation to stocks is likely. In the meantime, you can put your contributions in the Money market or stable value (if there is no holding period requirement).

Get to work on the emergency fund too.
by Texas hold em71
Tue Feb 03, 2015 7:47 am
Forum: Personal Finance (Not Investing)
Topic: [Poll] Company & Job Longevity
Replies: 24
Views: 3033

Re: [Poll] Company & Job Longevity

My first company went out of business in a pretty spectacular fashion. Luckily, I had left several years before. Can't say it was through any foresight of mine. Never saw it coming until it did. Lesson I learned was that a few people can bring an otherwise thriving, reputable organization down before most of the employees know what hit them.
by Texas hold em71
Thu Jan 29, 2015 9:51 pm
Forum: Personal Investments
Topic: what to do with 529 if you earn a scholarship?
Replies: 22
Views: 3618

Re: what to do with 529 if you earn a scholarship?

I would withdraw it and use it to "match" retirement contributions for the new worker and/or gifts to get them started. My husband would withdraw it and either spend it or put in our taxable account.

We have compromised and decided to let our kids use it for grad school.

This is still hypothetical for us too FWIW.
by Texas hold em71
Thu Jan 29, 2015 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Bringing up 529s to the grandparents
Replies: 58
Views: 5981

Re: Bringing up 529s to the grandparents

I would wait to see if there is a problem first. I would have your husband broach it if there is a problem. I have an acquaintance who told all grandparents that they were limited to one gift per holiday and if they wanted to do more, to put the money in a college fund. The grandparents were miffed but they got over it.
by Texas hold em71
Mon Jan 26, 2015 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads' Children Qualify For Need Based College Aid?
Replies: 35
Views: 4864

Re: Do Bogleheads' Children Qualify For Need Based College A

I am too young for this discussion, but what exactly are you all referring to when you say "aid"? Isn't the Pell grant the needs-based federal program? And then there are subsidized loans. After that, you just get unsubsidized loans which I wouldn't count as true financial aid. The Federal Pell Grant is usually awarded to undergraduates who have a high degree of unmet financial need. Students whose families have a total income of up to $50,000 may be eligible for the need-based funding, though most Pell grant money goes to students with a total family income below $20,000. This sounds to me like you have to be a real pauper to qualify. Do bogleheads kids qualify for need based aid? Depends on the booglehead. The ones making 80k p...
by Texas hold em71
Mon Jan 26, 2015 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads' Children Qualify For Need Based College Aid?
Replies: 35
Views: 4864

Re: Do Bogleheads' Children Qualify For Need Based College A

I am too young for this discussion, but what exactly are you all referring to when you say "aid"? Isn't the Pell grant the needs-based federal program? And then there are subsidized loans. After that, you just get unsubsidized loans which I wouldn't count as true financial aid. The Federal Pell Grant is usually awarded to undergraduates who have a high degree of unmet financial need. Students whose families have a total income of up to $50,000 may be eligible for the need-based funding, though most Pell grant money goes to students with a total family income below $20,000. This sounds to me like you have to be a real pauper to qualify. Do bogleheads kids qualify for need based aid? Depends on the booglehead. The ones making 80k p...
by Texas hold em71
Mon Jan 26, 2015 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads' Children Qualify For Need Based College Aid?
Replies: 35
Views: 4864

Re: Do Bogleheads' Children Qualify For Need Based College A

TomatoTomahto wrote:
camptalcott wrote:LOL.

not so much as a penny. Our incomes do us in before we even get to savings. I'm debating even filling out a FASA this year.
Why bother filling it out? I haven't, and don't intend to. AFAIK, there is no upside to filling it out if your income/assets keeps you out of the running for need-based aid. Merit aid is another story, which in our case does not apply.
Have not experienced it yet, but have been told by friends that schools require the form even when applying for merit aid. i guess I will cross that bridge when I get to it.
by Texas hold em71
Sun Jan 25, 2015 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads' Children Qualify For Need Based College Aid?
Replies: 35
Views: 4864

Do Bogleheads' Children Qualify For Need Based College Aid?

A lot of threads on the merits of 529s this week. I think a basic tenet of Bogleheadism is to fully fund tax advantaged retirement accounts before funding college accounts. (ETA: unless you expect to receive a sizable pension making deferral imprudent - reminded via PM by someone who kindly pointed out the exception that proves my rule. There may be others.) Once that is covered, one concern many posters seem to have is the impact on future financial aid decisions. I think for most Bogleheads, this is a non-issue as the majority will not qualify for need based aid anyway. I think most Bogleheads qualify for either loans or nothing at all. That does not mean I am advocating 529s over taxable investments. Just trying to see if very many Bogle...
by Texas hold em71
Sun Jan 25, 2015 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 109
Views: 21151

Re: Success stories of NOT buying more/too much house

Where to start? Just realtor fees on selling the one I have always seemed like a waste of good money.

- ability to pay off mortgage at an early age; not for everyone but helps me sleep
- we can remodel and buy new furniture to our hearts' content keeping this place fresh
- more cash flow for investing for an early retirement
- more cash flow for consumption items- electronics, travel, etc.
- current house is in a price range that is a lot easier to sell in a tough market
- I live in a high property tax state so I save on taxes staying in this house
- smaller house means lower utilities too
- Once the kids leave, this place will seem huge
by Texas hold em71
Thu Jan 22, 2015 8:00 am
Forum: Personal Finance (Not Investing)
Topic: AOTC versus 529 plan [American Opportunity Tax Credit]
Replies: 47
Views: 6904

Re: AOTC versus 529 plan [American Opportunity Tax Credit]

I'm already thinking of making sure that someone attends the summer session at college. :twisted: might that someone be you? Don't you have one in grad school now, Livesoft? Could the money be transferred to that sibling or was the grad school amount included in the QHEE above? Or rather than summer school in a Texas public university, can the student use the money for study abroad? We funded Texas Guaranteed Tuition program (the original, now closed plan) and 529s to come pretty close to instate Texas tuition and fees and other QHEE. We have told the kids anything left over can be used for grad school. I have not figured out the logistics of that yet, though. I have a few years and prefer not to count chickens before they are hatched.
by Texas hold em71
Wed Jan 21, 2015 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: What counts as "saving"?
Replies: 128
Views: 12087

Re: What counts as "saving"?

Question 4 (Essay Portion): Are your answers to questions 1-3 different? If so, why? I look forward to your answers. Good hypo. My answers to 1 and 2 would be B, but I think my answer to 3 would be A. It comes down to subjective intent, which maybe is your point. Here's a hint: In each of these scenarios, Joe's net worth increased by an identical amount in 2014 ($30,000). Does this change your answers? If the money invested underwent a rapid increase (due to stock market shooting up) and - all else being the same - Joe's investment account balance on 12/31/2014 was $20k not $10k, would the answer differ? Joe's savings rate would not be affected by changes in market values for any of his assets (home, gold, investment portfolio). His net wo...
by Texas hold em71
Wed Jan 21, 2015 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: AOTC versus 529 plan [American Opportunity Tax Credit]
Replies: 47
Views: 6904

Re: AOTC versus 529 plan

Can't wait to see what creativity you apply to the unspent 529 funds.
by Texas hold em71
Mon Jan 19, 2015 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: What counts as "saving"?
Replies: 128
Views: 12087

Re: What counts as "saving"?

Spirit Rider wrote:
kmok wrote:Paying off debt reduced both your assets and liabilities, thus have no impact on your net worth, thus it is not saving nor spending.
I am not going to get into the debate whether paying off debt is savings or not (It is starting to resemble a political or religious debate of zealots)

However, your bolded statement is categorically false. Paying off debt has no effect on the asset, while paying off debt reduces your liability, thereby increasing your net worth.
I think the asset that is reduced is cash as opposed to the house. If you did not do the early payoff you would have more cash and therefore the same net worth. You are right that the house asset is unchanged.
by Texas hold em71
Mon Jan 19, 2015 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: What counts as "saving"?
Replies: 128
Views: 12087

Re: What counts as "saving"?

To me, all saving is deferred spending. As a previous poster alluded to, I am saving for retirement spending, college spending, future vehicle purchases, etc. When I took out a mortgage, it allowed me to have a place to live immediately without having to save for it first. When I decided to pay off my mortgage, I reduced my savings to do so knowing that it allowed me to increase my savings rate in the future. I agree that none of this matters much to an individual unless you are trying to answer a poll on this forum. It is easy to see why newcomers get confused. Many times a question of "How much will I need in retirement" will be met with "Just save 15 percent and you'll be fine." Even more confusing than what counts in...
by Texas hold em71
Sun Jan 18, 2015 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Deleted
Replies: 18
Views: 2620

Re: spousal or partner frugality comparison poll

Island's description fits us pretty well.

As a rule, I am more frugal, but not on every single thing and the difference in our relative spending is quite small compared to our overall income.
by Texas hold em71
Sun Jan 18, 2015 10:35 am
Forum: Personal Finance (Not Investing)
Topic: What Should I Do With My HSA?
Replies: 10
Views: 1589

Re: What Should I Do With My HSA?

If you withdraw it, you will lose half of it to taxes and penalties. At 30, you are likely going to start having a few more medical expenses than you had in your 20s.
by Texas hold em71
Sun Jan 18, 2015 10:30 am
Forum: Personal Finance (Not Investing)
Topic: What Should I Do With My HSA?
Replies: 10
Views: 1589

Re: What Should I Do With My HSA?

How old are you?
by Texas hold em71
Sat Jan 17, 2015 9:54 pm
Forum: Personal Investments
Topic: Why does Vanguard not accepting fund for IRA purchase?
Replies: 4
Views: 840

Re: Why does Vanguard not accepting fund for IRA purchase?

Yes, you can become an authorized representative on her account and be able to see her accounts as well as make transactions on her behalf. She has to set this up for you using an online form. Follow the link and use the account authorization form.

https://personal.vanguard.com/us/litful ... bCat2=null


As to why the funds are not going through, she will need to call Vanguard to ask until you are set up. You still have until April to do the 2014 contribution.
by Texas hold em71
Thu Jan 15, 2015 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: How much does a large payment reduce mortgage
Replies: 34
Views: 4311

Re: How much does a large payment reduce mortgage

If you are handy with Excel, set up an amortization table. If not, there are a lot of calculators on the web that help with this. You might check the wiki to see if any are boglehead recommended.
by Texas hold em71
Sun Jan 11, 2015 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Splitting Pre-expenses
Replies: 15
Views: 2650

Re: Splitting Pre-expenses

How are you handling withholding? I would guess you are now withholding less than she is because you have more pre-tax deductions than she does? If you had both claimed the same exemptions (you say you make the same) then didn't the taxes come out different? If so, then she is "paying" more taxes than you. Or maybe you adjusted that already?

For the FSA and HSA type expenses, do you split the out of pocket cost and then split the reimbursement as well?

Not judging the arrangement at all- just seems like a lot of work!
by Texas hold em71
Sun Jan 11, 2015 8:52 pm
Forum: Personal Investments
Topic: Help!!! Dilemma on 457b
Replies: 10
Views: 1713

Re: Help!!! Dilemma on 457b

In your same situation, I chose to invest in taxable. I work at a very stable company but I have seen enough of those go bankrupt that I don't want to worry about it. Also, you are assuming 33 percent, but wouldn't the account balance push you into the 39 percent bracket if you left?

I chose to pay taxes rather than worry. I also did not want to be in the position of having to quit my job to get my retirement money out if I could see it coming. If you are less of a worrier, you may choose differently as many of my colleagues have done.
by Texas hold em71
Sun Jan 11, 2015 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Can my employer open an HSA account for me without me?
Replies: 20
Views: 4078

Re: Can my employer open an HSA account for me without me?

Both my spouse and I have had HSAs and within the online enrollment screens had to consent to the opening of the account. I don't know that we have ever had the option to have payroll deducted contributions go to any custodian other than the one selected by the employer. Both employers have changed custodians multiple times and every time, we have to sign a consent to open a new account and transfer funds. We have been given the option of leaving funds at the old custodian but new deductions have to go to the new. I would assume our employers get our consent because it is legally required. Both employers explicitly said in enrollment materials that no money would go into the HSA until any general FSA had been depleted. Because I wanted all ...
by Texas hold em71
Sun Jan 04, 2015 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Switching to Schwab
Replies: 33
Views: 5214

Re: Switching to Schwab

What's so 'lame' about SWTSX (.09ER). Serious question. As I have quite a bit of it. Bond funds are decent but not great and prefer ETFs I agree. Nothing at all. I own some of Vanguard, Fidelity and Schwab total stock market and international for various reasons. The Schwab funds do just fine. I would not categorize them as "much more expensive." When you are at the second decimal place, you aren't talking about big money. The schwab funds tend to be less tax efficient than Vanguard's which is another cost to consider. I will say that when it comes to "system issues", phone support and customer service, Vanguard has miles to go. Schwab and Fidelity have them beat on that front hands down. I think I would be less fearful...
by Texas hold em71
Sat Jan 03, 2015 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Today is a Good Day to fund the 2015 IRA
Replies: 69
Views: 11040

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

Any thoughts on why I would be getting this message when trying to exchange a fund in my traditional IRA - "This transaction can't be completed online. Call us at [number] for help." I recently purchased shares of the fund I'm trying to exchange so it's "unavailable" but that shouldn't prevent exchanges. I did not get that message but was unable to move money from a joint account to an IRA. When I called the rep told me the system would not allow me to use 100 percent of my prime money market account to fund the IRA. When I asked why, she did not know and transferred me. I sat on hold for thirty minutes, gave up and moved 5.00 from checking to the money market. It let me do the transaction after the 5.00 posted that eve...
by Texas hold em71
Fri Jan 02, 2015 10:56 am
Forum: Personal Investments
Topic: Last year before retirement more about spending than saving?
Replies: 38
Views: 3248

Re: Last year before retirement more about spending than sav

I think what some are saying is that you have planned for income in retirement that should replace current income and since you have been able to manage all of these things on current income, you should not front load a lot of unnecessary expenses just because you are retiring. If you are doing so because you are worried you won't have enough money to pay for them in retirement, you might be retiring too soon or you might be worrying too much. I think of it a little differently in that you are essentially trying to "insure" against unforeseen cash flow "emergencies" you are worried that once you retire, you will find a very expensive landscaping project that you can no longer afford and will regret retiring? I also look ...
by Texas hold em71
Fri Jan 02, 2015 10:07 am
Forum: Personal Investments
Topic: Last year before retirement more about spending than saving?
Replies: 38
Views: 3248

Re: Last year before retirement more about spending than sav

I have seen this with friends who have retired. They seem to want to have any unplanned large exoenses out if the way so as to avoid surprises in early retirement. Also comments about - if I am going to be home all day now, I need to remodel the kitchen.
by Texas hold em71
Fri Jan 02, 2015 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Question on creating a budget which accounts for taxes.
Replies: 5
Views: 903

Re: Question on creating a budget which accounts for taxes.

The tax code is based on non-linear math. I agree that to get what you want, you would have to do as Bill M suggests and estimate taxes twice. What you are likely to come out with is the "extra" income will be taxed at a marginal rate that is extremely high. Based on what you are trying to do, that is okay assuming all of that extra income is truly cash and can fund those taxes. You say that you will sell at vesting, so that should be the case.

I know you are not interested in becoming a tax expert, but you probably should read about estimated taxes and make sure you are withholding or paying in the amount required to avoid penalties since your income fluctuates each quarter.
by Texas hold em71
Thu Jan 01, 2015 4:38 pm
Forum: Investing - Theory, News & General
Topic: If no capital gains tax, will you change investing?
Replies: 12
Views: 1607

Re: [Poll] If no capital gains tax, will you change investin

I would not become an active trading, market timer. No taxes or transaction costs would not suddenly mean I would become an expert market timer. So far (because I did not have taxable investments in 2009), I have been able to rebalance with new investments and by changing my 401(k) allocation. In a severe correction, I doubt that would be possible and then I would have to consider taxes for rebalancing but then I would have a lot of capital losses not gains.

I might keep a smaller emergency fund if I knew I could sell taxable without incurring taxes.
by Texas hold em71
Thu Jan 01, 2015 4:27 pm
Forum: Personal Investments
Topic: Pay $5k taxes to pay off $75k mortgage?
Replies: 9
Views: 1585

Re: Pay $5k taxes to pay off $75k mortgage?

I am mortgage free and I agree with simplifying a portfolio but not if it involves the capital gains taxes. You might want to do it badly enough to pay the taxes and the 5,000 may not bother you as much as me. If it were me, I think I would just redirect new investments to the mortgage instead of taxable. If I really wanted to simplify, I might sell enough " winners" to offset any "losers" I had to get to 0 capital gains and then wait to sell the rest some other time when I could avoid or reduce the tax hit. Depending on your tax situation paying off the mortgage will have its own tax bite which I am sure you have already considered.
by Texas hold em71
Thu Jan 01, 2015 4:01 pm
Forum: Personal Consumer Issues
Topic: Test drive new vehicle without sales pressure?
Replies: 60
Views: 13966

Re: Test drive new vehicle without sales pressure?

We always tell them we are driving to compare to another car that we are driving that afternoon (or the next day). You still get the sales pitch regarding the features but I don't consider that pressure.
by Texas hold em71
Thu Jan 01, 2015 2:07 pm
Forum: Personal Investments
Topic: Pay $5k taxes to pay off $75k mortgage?
Replies: 9
Views: 1585

Re: Pay $5k taxes to pay off $75k mortgage?

You don't say how much you are putting into taxable savings each year. Could you redirect new investments to the mortgage instead? That would take longer but avoid some taxes.
by Texas hold em71
Thu Jan 01, 2015 1:04 pm
Forum: Personal Investments
Topic: [Can we get Vanguard foreign tax info before 1099 issued?]
Replies: 1
Views: 581

Re: Vanguard does not report foreign taxes taken from divide

https://advisors.vanguard.com/VGApp/iip ... erICIFiles

I also found these spreadsheets but they are still only for 2013. Can't see a date that the page was last updated. Short of calling them tomorrow where you are likely to be told to wait, I guess you could try to estimate based on last year's rates. That isn't too helpful if you are cutting it really close on the Roth threshold.

Thanks for pointing this out though. As I estimate my taxes, I estimated paying these taxes but I failed to gross my estimated dividends up for them. If I feel like getting off the couch today, I might fix my spreadsheet.
by Texas hold em71
Wed Dec 31, 2014 5:05 pm
Forum: Personal Investments
Topic: New investor. Doesn't qualify for Roth. Help
Replies: 29
Views: 3843

Re: New investor. Doesn't qualify for Roth. Help

Let me rephrase then - I am choosing to invest 2-3K a month. There is nothing wrong with it, it's simply my choice of spending and enjoying my life now vs. investing. I think putting away 30k a year is better than a lot of people can do. So maybe advice without judgement would be better. Thank you everyone else for your suggestions. I have been reading up on the backdoor Roth and will look into it. I was unaware that spending money equates to "enjoying life". At 25 we will be investing over $30k per year with half your income, and you don't have the benefit of time for compounding. Since you're getting a late start, I'd suggest lowering expenses so that you can invest more. So much for advice without judgement. Sorry, OP. We don'...
by Texas hold em71
Wed Dec 31, 2014 4:08 pm
Forum: Personal Investments
Topic: Fidelity funds similar to specific Vanguard funds?
Replies: 4
Views: 5679

Re: Fidelity funds similar to specific Vanguard funds?

Since you are new to the forum, I will point out something that you may or may not already know. Depending upon the size of your brokerage and IRA accounts, you may be able to own the funds with no Fidelity substitute in the brokerage and IRA accounts and own only the acceptable Fidelity funds in the 401(k). Some people practice equal allocation in all accounts but many do not. If you have not had a chance to look at the wiki, you can read about tax efficient asset placement versus equal allocation there. Alternatively, you can deposit you 401(k) contributions into the cash option and then just buy quarterly through the brokerage option so that you don't get hit with the $75 fee bi-weekly. Are there really no acceptable options in the 401(k)?
by Texas hold em71
Sun Dec 07, 2014 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Did your parents/childhood affect the way you handle money?
Replies: 29
Views: 3116

Re: Did you parents and your childhood effect the way you ha

I agree with you about people of that generation not thinking about what made them happy. I often encounter this when I think about people being "happy" in their careers. My grandparents would have asked "Is their food on your table and a roof over your head? Then be happy." They didn't think you were supposed to like your job. They worked to live and not vice versa.
by Texas hold em71
Sun Dec 07, 2014 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Did your parents/childhood affect the way you handle money?
Replies: 29
Views: 3116

Re: Did you parents and your childhood effect the way you ha

Was your mother unhappy? Did she live the life she wanted? Just because she chose differently than you, doesn't mean she chose wrong. Remember she was shaped by her environment too.

My parents spending and debt habits are very different than mine. I try not to judge them because I know a big reason they made the choices they did was to give me a good start in life. They would do almost everything the same way again if they could.

The way they are is a reaction to their parents attitudes and actions.

I always think the person who handles money exactly like his/her parents is the oddity, not the one who handles it differently.
by Texas hold em71
Sun Nov 30, 2014 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Dividends when holding period is not met
Replies: 2
Views: 1061

Qualified Dividends when holding period is not met

For reference: https://www.fidelity.com/taxes/tax-topics/qualified-dividends "You must have held the applicable share of the fund for at least 61 days out of the 121-day period that began 60 days before the fund’s ex-dividend date." Fidelity goes on to say that my 1099-DIV will not determine how much of my dividends/shares meet the requirement. "Qualified dividends are reported on Form 1099-DIV in line 1b or column 1b. However, not all dividends reported on those lines may have met the holding period requirement. Those non-qualified dividends, as well as other ordinary dividends, may be taxed at your ordinary income tax rate, which can be as high as 39.6%." And then walks me through the calculation. "Of the $1,800 r...
by Texas hold em71
Sun Nov 30, 2014 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Term life questions
Replies: 27
Views: 3938

Re: Term life questions

I should not forget to remind you to factor in your social security survivor benefits. Your online statement will show you the maximum amount your spouse will receive and the kids will receive until they turn 18. That is built in insurance that you can discount as much or as little as you like over the 20 year time horizon. Many people overlook this.