Search found 60 matches

by BusterMcTaco
Sat Nov 18, 2017 10:44 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - should we do it?
Replies: 9
Views: 870

Re: Backdoor Roth - should we do it?

I'll also point out that at 28% rate (no state income tax?) converting the pre tax IRA funds to Roth is not the end of the world, if the roll over into 401k ends up being a headache. Especially if you might be in a higher tax bracket later in retirement.
by BusterMcTaco
Sun Nov 12, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Can We Afford This House" ?
Replies: 28
Views: 2554

Re: Another "Can We Afford This House" ?

1) The $17k is average monthly expenses. Some months we contribute more to Charity, other months we might have extra expenditures, and most months we save more. The 5800 per month is what I have as regular transfers into savings and investments. Then every so often I'll do a lump transfer. I'm sorr...
by BusterMcTaco
Sun Nov 12, 2017 3:05 am
Forum: Personal Finance (Not Investing)
Topic: Another "Can We Afford This House" ?
Replies: 28
Views: 2554

Re: Another "Can We Afford This House" ?

Three thoughts: 1) your expenses+savings+piti don't add up to your net. Although it's late and I'm tired, I'm seeing a $3-$4k monthly discrepancy. Edit: if current PITI is only $2400 it's even bigger. $17k+$2.4k+5.8k=$25.2k monthly. Where's the other $10k?! 2) if you are bringing in $420k after taxe...
by BusterMcTaco
Wed Nov 08, 2017 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Voice Verification
Replies: 35
Views: 3413

Re: Vanguard Voice Verification

I tried this on Fidelity and found out that I didn't even need my password anymore (not that I put much stock in a 12 digit numeric-only password). I immediately cancelled it.

Biometrics are dangerous if not in conjunction with something else (have something, know something).
by BusterMcTaco
Wed Nov 08, 2017 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: Lending Money to Business Acquaintance
Replies: 17
Views: 1248

Re: Lending Money to Business Acquaintance

As you haven't spoken with him in years, I don't think there's a strong enough connection here to justify the risks. You presumably sold the business because you wanted to be done with it.
by BusterMcTaco
Wed Nov 08, 2017 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 328
Views: 34556

Re: Did you tell anyone you paid off your mortgage?

flyingaway wrote:
Wed Nov 08, 2017 11:14 pm
Paying off mortgage is really nothing here, compared to the membership of the two comma club.
Hah! My mortgage is in the two comma club.
by BusterMcTaco
Wed Nov 08, 2017 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: ETrade Individual 401k - application and practical issues
Replies: 9
Views: 638

Re: ETrade Individual 401k - application and practical issues

If you don't have separate accounting for the employer and rollover contributions, would that prevent in-service distribution of those amounts? My understanding (and I'm by no means an expert) is that you can also track contributions separately, like in a spreadsheet, and then apply some percentage...
by BusterMcTaco
Wed Nov 08, 2017 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: ETrade Individual 401k - application and practical issues
Replies: 9
Views: 638

Re: ETrade Individual 401k - application and practical issues

Of course, you are right. EmployER can be rolled out, not employEE. I thought you were trying to tell me neither could, but I see now you were just clarifying that employEE can be rolled out after age 59 1/2.

Editing my post above.
by BusterMcTaco
Wed Nov 08, 2017 1:30 pm
Forum: Investing - Help with Personal Investments
Topic: ETrade Individual 401k - application and practical issues
Replies: 9
Views: 638

Re: ETrade Individual 401k - application and practical issues

First, it is not clear to me how many adoption agreements you signed. There is only one employer and there should only be one adoption agreement and plan. If you have more than one adoption agreement that could be a problem. I agree I only should have signed 2 (the initial, and the restatement to a...
by BusterMcTaco
Wed Nov 08, 2017 12:12 am
Forum: Investing - Help with Personal Investments
Topic: ETrade Individual 401k - application and practical issues
Replies: 9
Views: 638

Re: ETrade Individual 401k - application and practical issues

Final update, I think. I was able to open 4 different accounts under the same plan (well, 6 if you count my wife's). For me: Roth employEE, traditional employEE, traditional employER, and roll-in from existing IRA. Some phone reps said it couldn't be done but in the end it was just a matter of sendi...
by BusterMcTaco
Sat Nov 04, 2017 11:41 am
Forum: Personal Consumer Issues
Topic: How do I select a good employment law attorney?
Replies: 46
Views: 2163

Re: How do I select a good labor-law attorney?

They're still bugging you after you gave notice of retirement? Lordy.
by BusterMcTaco
Sat Oct 28, 2017 3:04 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 7630

Re: Can I retire today?

I've always felt that FFs who hit their 90% pension mark are fools to not retire. Why work for 10% of your pay+benefits?!
by BusterMcTaco
Thu Oct 26, 2017 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Southwest Companion Pass [California only]
Replies: 39
Views: 3207

Re: Southwest Companion Pass [California only]

It is too bad the offer didn't expire Jan 2018, then you would have the pass until end of 2019.. It is common with the normal offers to wait until Jan to finish the qualifying event (normally a purchase.) Note that you can still do this for the 40k points for $1000 minimum spend (or whatever it was...
by BusterMcTaco
Thu Oct 26, 2017 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Southwest Companion Pass [California only]
Replies: 39
Views: 3207

Re: Southwest Companion Pass [California only]

As I read the offer on the points guy, Southwest must email or mail you this offer. It is not something you can just randomly signed up for. Other restrictions apply. I hope I am incorrect, but this is what I am reading… I heard this too. I know some friends applied even though they were not specif...
by BusterMcTaco
Thu Oct 26, 2017 2:05 am
Forum: Investing - Help with Personal Investments
Topic: How Well Do You Know About Retirement Income?
Replies: 40
Views: 4533

Re: How Well Do You Know About Retirement Income?

I was 33/38, but in my heart I got a 34. I mis-clicked on the first answer and selected 8,000 instead of 4,000. I would say the biggest surprise for me was the percentage of people who end up needing long term care. I optimistically selected 25%, but wouldn't have been surprised if it was 50%. I wa...
by BusterMcTaco
Thu Oct 26, 2017 1:20 am
Forum: Personal Finance (Not Investing)
Topic: Southwest Companion Pass [California only]
Replies: 39
Views: 3207

Re: Southwest Companion Pass [California only]

sco wrote:
Wed Oct 25, 2017 10:48 pm
I did that last year, and don't live in CA...


The points that post, qualify for the Companion pass.
This is different. It's instant CP after first purchase. No need for 2 cards, timing hitting minimum spend, etc.
by BusterMcTaco
Sun Sep 03, 2017 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming a Landlord: My Experiences
Replies: 108
Views: 17047

Re: Becoming a Landlord: My Experiences

It's good to check out the unit after they have given their 30-day notice, so you see what needs to be fixed or repaired in advance of the tenant vacating. More than that, in California you are required to notify a tenant of their right to such a walkthrough. If they request it, then anything you c...
by BusterMcTaco
Sun Sep 03, 2017 12:51 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k if other employer has SEP-IRA
Replies: 11
Views: 518

Re: Solo 401k if other employer has SEP-IRA

DrGoogle2017 wrote:
Sun Sep 03, 2017 12:50 pm
If you have TT, you should model it.
I don't trust TT at all on more obscure topics, but I can certainly give it a try. Good idea.
by BusterMcTaco
Sun Sep 03, 2017 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k if other employer has SEP-IRA
Replies: 11
Views: 518

Re: Solo 401k if other employer has SEP-IRA

I think that's only true of the employee salary deferrals bit: The amount of salary deferrals you can contribute to retirement plans is your individual limit each calendar year no matter how many plans you're in. This limit must be aggregated for these plan types Emphasis mine. The link you posted i...
by BusterMcTaco
Sun Sep 03, 2017 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k if other employer has SEP-IRA
Replies: 11
Views: 518

Re: Solo 401k if other employer has SEP-IRA

Thank you. This was my suspicion based on your previous explanations but I wasn't sure. The employer contribution is also limited to (net self-employment income - employee deferral) / 2. This is new info for me. I think, mathematically, it only applies at low net self-employment income, but may be r...
by BusterMcTaco
Sun Sep 03, 2017 1:07 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k if other employer has SEP-IRA
Replies: 11
Views: 518

Solo 401k if other employer has SEP-IRA

Hello all, My friend has an (apparently) unusual situation which I haven't been able to find an answer for. She works for an employer who generously contributes to a SEP-IRA, and actually caps it out at $54k for her (she's highly compensated, well over 4x that). She also has 1099-MISC income on the ...
by BusterMcTaco
Sun Aug 27, 2017 10:57 pm
Forum: Investing - Help with Personal Investments
Topic: suggestion on buying our first home
Replies: 31
Views: 2695

Re: suggestion on buying our first home

$500/mo in utilities? That seems high. I'm in a HCOL area and our monthly is half that for 2. The only time I've ever had $500/mo I lived with 5 roommates.

ETA: I guess if the house is big, heating/AC will do it.
by BusterMcTaco
Thu Aug 24, 2017 3:50 pm
Forum: Personal Consumer Issues
Topic: Can dispute an expensive medical bill
Replies: 39
Views: 3025

Re: Can dispute an expensive medical bill

If additional costs weren't disclosed it was not informed consent. I would ask that they waive it or I'd file a complaint with the governing board.
by BusterMcTaco
Thu Aug 24, 2017 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Looking for a house around San Jose, CA
Replies: 36
Views: 3765

Re: Looking for a house around San Jose, CA

Congratulations! If you're like me you'll lose some sleep over it, but that passes quickly. :sharebeer
by BusterMcTaco
Wed Aug 23, 2017 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Sigh...I'm ready for criticism...how am I doing?
Replies: 50
Views: 6907

Re: Sigh...I'm ready for criticism...how am I doing?

Olemiss540 gives damn good advice. You're just now starting to earn more than residency. You will catch up to the other BS. Don't throw money away on lavish stuff until your debt is paid off and the other house is sold... Low stress, happy family, and you'll be just fine.
by BusterMcTaco
Tue Aug 22, 2017 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly Taxes - Best resources or just hire a CPA?
Replies: 11
Views: 735

Re: Quarterly Taxes - Best resources or just hire a CPA?

I'm way above 150k. TT always said I can do 100%. Or maybe my memory is crap. I'll have to pay attention this year.
by BusterMcTaco
Tue Aug 22, 2017 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly Taxes - Best resources or just hire a CPA?
Replies: 11
Views: 735

Re: Quarterly Taxes - Best resources or just hire a CPA?

Or 100%. You don't have to do 110% right?
by BusterMcTaco
Mon Aug 21, 2017 10:38 pm
Forum: Investing - Help with Personal Investments
Topic: Another VT vs. VTI + VXUS question
Replies: 3
Views: 708

Re: Another VT vs. VTI + VXUS question

I was going to guess difference in ERs but that definitely doesn't add up.

Not sure if this is still true, but 6 years ago folks were saying VT only holds large caps:
viewtopic.php?t=69616
by BusterMcTaco
Mon Aug 21, 2017 7:18 pm
Forum: Investing - Help with Personal Investments
Topic: ETrade Individual 401k - application and practical issues
Replies: 9
Views: 638

Re: ETrade Individual 401k - application and practical issues

Plan document link. Specifics of in-service withdrawal are in 5.01(C): In-Service Distributions – Unless otherwise elected in the Adoption Agreement, if this is a profit sharing plan, a Participant who is not otherwise eligible to receive a distribution of their Individual Account may elect to rece...
by BusterMcTaco
Mon Aug 21, 2017 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: ETrade Individual 401k - application and practical issues
Replies: 9
Views: 638

ETrade Individual 401k - application and practical issues

Having just gone through applying for the ETrade Individual 401k (AKA Solo 401k) for myself and my spouse, I thought some guidance for those in the future might be useful. It was a harder process than I thought. It may also be useful in the future to have other practical issues addressed (contributi...
by BusterMcTaco
Mon Aug 14, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Maxed out 401K now switched job. New employer auto enrolled in 401K.
Replies: 7
Views: 1336

Re: Maxed out 401K now switched job. New employer auto enrolled in 401K.

Just heads up that, depending on the 401k provider, getting your money back can be a PITA. We overcontributed due to the fault of the new 401k provider (Ubiquity--no surprise there). They "corrected" it, but took a $65 processing fee and a $30 check fee out of our account. Again, this was their faul...
by BusterMcTaco
Mon Aug 07, 2017 7:42 pm
Forum: Personal Consumer Issues
Topic: Buy Google Pixel mobile now or wait for Pixel 2
Replies: 33
Views: 3401

Re: Buy Google Pixel mobile now or wait for Pixel 2

I obviously can't predict the future, but Google seems to be doing discounts on their phones frequently for new Fi accounts. I have no idea when they are launching a new phone but if it's really just two months away I'd wait. Phones get obsolete quickly.
by BusterMcTaco
Mon Aug 07, 2017 7:36 pm
Forum: Personal Consumer Issues
Topic: Santa Fe New Mexico - recommendations
Replies: 26
Views: 2063

Re: Santa Fe New Mexico - recommendations

I'd personally skip Albuquerque unless you have particular interest in something there. I recommend Horseman's Haven for breakfast, Meow Wolf for the experience, and Ten Thousand Waves in the evening for unwinding (and the Japanese, non sushi restaurant there is good, too). Taos was worth an afterno...
by BusterMcTaco
Mon Aug 07, 2017 7:30 pm
Forum: Personal Consumer Issues
Topic: How much longer should I chase a merchant for a double charge?
Replies: 9
Views: 715

Re: How much longer should I chase a merchant for a double charge?

You've given them a week. Time for a charge back and let your credit card company handle it.
by BusterMcTaco
Fri Aug 04, 2017 2:58 am
Forum: Investing - Help with Personal Investments
Topic: After-Tax 401K w/ In-Plan Roth conversion vs Taxable
Replies: 26
Views: 3261

Re: After-Tax 401K w/ In-Plan Roth conversion vs Taxable

Thanks. A lot of the financial blogs don't seem to mention that it's just the taxable conversion that is on a 5-year timer. I certainly read them all as saying that the entire conversion is on a 5-year timer.
by BusterMcTaco
Wed Aug 02, 2017 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: After-Tax 401K w/ In-Plan Roth conversion vs Taxable
Replies: 26
Views: 3261

Re: After-Tax 401K w/ In-Plan Roth conversion vs Taxable

1) Roth IRAs provide ready access to your funds when needed, Roth 401ks do not except for hardship distributions, loans, or post separation distributions. Further, since the bulk of these rollovers are mostly non taxable, the 5 year holding period to avoid a penalty only applied to a small part of ...
by BusterMcTaco
Mon Jul 31, 2017 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1505

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

Your guidance is appreciated, and I will discuss it with my CPA.
by BusterMcTaco
Mon Jul 31, 2017 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1505

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

Are you sure. The FMV compensation has to be for the tasks actually performed by her in the business not her pay rate for her W-2 employer. In fact even at her W-2 employer's hourly rate (~$72/hr), that would require 750 hours to reach $54K. My wife is a highly qualified software engineer in the SF...
by BusterMcTaco
Mon Jul 31, 2017 2:08 am
Forum: Personal Consumer Issues
Topic: What are your monthly expenses?
Replies: 69
Views: 7553

Re: What are your monthly expenses?

Auto+Transport $800 (0% loan) Bills+Utilities $250 Entertainment $150 Fees+Charges $100 Life insurance $55 Food+Dining $1,750 (+bars) Gifts+Donations $200 Health+Fitness $750 Home $7,900 ($6500 PITI+HOA) Personal care $300 Pets $200 Shopping $750 Travel $1,000 Child $3,000 (projected) Post-Tax inves...
by BusterMcTaco
Sun Jul 30, 2017 10:29 pm
Forum: Investing - Help with Personal Investments
Topic: Medical Resident SEP IRA vs. Solo 401k
Replies: 7
Views: 612

Re: Medical Resident SEP IRA vs. Solo 401k

Well I missed that entirely about the solo 401k.
by BusterMcTaco
Sun Jul 30, 2017 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1505

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

A follow-up question for the experts: if my wife isn't part of a QJV, can she still contribute to my solo 401k in an after-tax manner and then backdoor convert? I guess, broken down into two parts: 1) What are the requirements for a spouse to be eligible to contribute to a Solo 401k, at all? 2) Are ...
by BusterMcTaco
Sun Jul 30, 2017 6:05 pm
Forum: Investing - Help with Personal Investments
Topic: Medical Resident SEP IRA vs. Solo 401k
Replies: 7
Views: 612

Re: Medical Resident SEP IRA vs. Solo 401k

While a solo 401k is good for aforementioned reasons (higher contributions for less income, preserving backdoor Roth, and even 401K Roth options), in your case you would not be able to make an employee contribution if you are capping out your other job's 401k. A SEP IRA will eventually allow you $54...
by BusterMcTaco
Fri Jul 28, 2017 12:15 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1505

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

Doesn't your S-Corp have to pay the employer portion of her SS as well? Of course it also has to deduct the employee portion but she will get that back on your tax return. I'm a disregarded LLC, but your question stands. I looked into it briefly and it seems you are correct. I would of course be ab...
by BusterMcTaco
Thu Jul 27, 2017 7:04 pm
Forum: Investing - Theory, News & General
Topic: Theoretical: how will end of LIBOR affect adjustable rate mortgages?
Replies: 1
Views: 421

Theoretical: how will end of LIBOR affect adjustable rate mortgages?

I read the news this morning that the LIBOR may be gone by the time our ARM becomes adjustable. I referred to our mortgage disclosures which don't seem to indicate a contingency in this case, just a margin (2.25%) above LIBOR one-month index as reported in the WSJ. Interestingly it also doesn't tech...
by BusterMcTaco
Thu Jul 27, 2017 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1505

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

I did see that, thanks. I also found it funny that in normal cases one can count a spouse's participation as their own. Obviously not here, unfortunately. This might mean that we just start in 2018 since right now, documenting 500 hours would be a challenge. I could pay her by W-2 for her time this ...
by BusterMcTaco
Wed Jul 26, 2017 11:59 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 19
Views: 1505

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

Your wife would only need to "materially participate" in the business. This is a relatively easy benchmark to obtain. For example, one qualification is for your wife to work more than 100 hours in the activity during the year, and no one else works more than she does . So if your wife spends more t...
by BusterMcTaco
Tue Jul 25, 2017 11:42 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio review and suggestions (~$400k retirement assets)
Replies: 3
Views: 961

Re: Portfolio review and suggestions (~$400k retirement assets)

In the interest of completeness, it turns out that I can't buy all those Vanguard funds I wanted at E*Trade. For example, I can buy institutional total market, but not Admirals (and probably can buy Investors--didn't check). Anyway, I'll by buying a combination of VTI/BND/BNDX ETFs instead, in my IR...
by BusterMcTaco
Tue Jul 25, 2017 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio review and suggestions (~$400k retirement assets)
Replies: 3
Views: 961

Re: Portfolio review and suggestions (~$400k retirement assets)

I suspect you haven't gotten replies because your plan is fine. That's what I concluded :happy 4. Do you have any suitable no-transaction-fee options with Etrade? I think a $13 commission isn't that big of a deal if you're making few trades, but at the same time it could be avoidable. What do you m...
by BusterMcTaco
Sun Jul 23, 2017 8:34 pm
Forum: Investing - Help with Personal Investments
Topic: Business brokerage account: seeking tax efficient, medium risk fund
Replies: 7
Views: 613

Re: Business brokerage account: seeking tax efficient, medium risk fund

However, unless you pay AMT, you can deduct CA tax from federal.
We do hit AMT, but since these are qualified dividends, isn't it just 15% federal long-term cap gains rate [for the 33% tax bracket]+9.3% state [without federal deduction]?
by BusterMcTaco
Sun Jul 23, 2017 1:34 pm
Forum: Investing - Help with Personal Investments
Topic: Business brokerage account: seeking tax efficient, medium risk fund
Replies: 7
Views: 613

Re: Business brokerage account: seeking tax efficient, medium risk fund

If you are in a high federal and CA tax bracket, TM Capital Appreciation is likely to save you slightly more in lower taxes than it costs in expenses. Is my math right? Tax rate: 15% federal + 9.3% CA. So comparing: VTCLX 0.09% 1.67% TTM yield, 100% qualified, $40.58 dividend taxes per $10,000 inve...