Search found 24 matches

by CrownVic
Wed Oct 18, 2017 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

I reached out to the broker in the evening just now and am waiting to hear back. He came into this situation largely because he started it when he first emigrated from an Eastern European communist country without a college degree, so I can't really blame him for not knowing. Luckily, the internet a...
by CrownVic
Wed Oct 18, 2017 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

I answered them as a quote, they're shaded in bold next to your original questions.
by CrownVic
Wed Oct 18, 2017 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

You need to find out if he has the A shares or the B shares. It makes a difference because the B shares have a surrender period (might cost extra to get out early). He has almost 50% in each. What is the first year he is likely to be in the 15% bracket? Likely when he turns 66, when he'd get the fu...
by CrownVic
Wed Oct 18, 2017 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

If the in-kind transfer does not appear to be possible, would it make the most sense for him to wait until retirement when he falls into the 15% tax bracket, and then transfer the funds, thereby avoiding the capital gains tax?
by CrownVic
Tue Oct 17, 2017 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

All, thank you for the clarifications. I was definitely confusing a rollover into a Roth IRA, so thanks to all for clearing that up that the initial contribution to open the account is also only $5,500/$6,500. He is currently a federal government employee, and so has a TSP. He has expressed some int...
by CrownVic
Mon Oct 16, 2017 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

It sounds like your trying to figure out how to transfer the $30k all into a Roth IRA from the taxable account? I don't think you can do that. As mentioned, he would be limited by the yearly contribution amounts. Of course, being towards the end of the year he could do some now and some in January....
by CrownVic
Mon Oct 16, 2017 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

The money is fairly minimal, a little under $30K, but I'm not sure what the amount of total unrealized capital gains is.
by CrownVic
Mon Oct 16, 2017 10:16 am
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Re: Making a Roth IRA for my Dad

TLC wrote:
Mon Oct 16, 2017 9:59 am
Does he have any earned income?
Not sure what you mean, but he does still work now so he does earn, but is likely to retire when he turns 65-66, so within a year or a little over a year at most.
by CrownVic
Mon Oct 16, 2017 9:54 am
Forum: Investing - Help with Personal Investments
Topic: Making a Roth IRA for my Dad
Replies: 28
Views: 934

Making a Roth IRA for my Dad

I've been tasked with figuring out what to do for my dad since he wants to take out his money he keeps in mutual funds that have high fees. This is an idea I've come up with, but I'd like some feedback to see if this is actually a good idea. My dad isn't well experienced in investing in equity/debt ...
by CrownVic
Tue Sep 26, 2017 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Update W4 if I purchased a home but rent someplace else?
Replies: 4
Views: 431

Re: Update W4 if I purchased a home but rent someplace else?

avalpert wrote:
Tue Sep 26, 2017 2:15 pm
renting out the asset at profit (right?) you are generating more income, not less...
There is a profit, but it's extremely minimal, so for all intents and purposes it's immaterial.
by CrownVic
Tue Sep 26, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Update W4 if I purchased a home but rent someplace else?
Replies: 4
Views: 431

Update W4 if I purchased a home but rent someplace else?

Earlier this year (before April if that matters), I purchased a home. It was my first home purchase and it was really exciting. At first I was planning on relocating into the area for work, but a new opportunity came up in the office and I ended up not relocating so I ended up renting the house out....
by CrownVic
Tue Sep 26, 2017 12:22 pm
Forum: Investing - Theory, News & General
Topic: Alternative to Google Finance? [Portfolios feature deprecated]
Replies: 52
Views: 7350

Re: Alternative to Google Finance?

I like Yahoo Finance, it's not too shabby
by CrownVic
Wed Aug 16, 2017 11:48 am
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

Re: DC 529 Plan vs other states'

Thank you all so much for the responses. Taking this into consideration, I think that in my case DC's 529 plan will be the best route to go since I'm almost positive that I will still be here in 2 years time. It's a shame the $10k isn't available to graduate students, but I'll just have to make do w...
by CrownVic
Mon Aug 14, 2017 10:39 am
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

Re: DC 529 Plan vs other states'

my understanding is that a DC resident is entitled to in state rates at any state I've only been living here for a year but I have heard that said, although I'm not sure whether it is true but I'll be sure to follow up as that would be very advantageous if I go to a state school So after some resea...
by CrownVic
Mon Aug 14, 2017 9:57 am
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

Re: DC 529 Plan vs other states'

Simplified. ... Since you are living in D.C., open D.C. 529 plan. Once you move, open a 529 plan in new location if you get a tax benefit, otherwise find lowest cost plan offered. For simplicity, roll D.C. 529 into new plan if cost are lower. When going to school, use any and all 529 funds to pay f...
by CrownVic
Mon Aug 14, 2017 9:51 am
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

Re: DC 529 Plan vs other states'

3feetpete wrote:
Sat Aug 12, 2017 6:05 pm
my understanding is that a DC resident is entitled to in state rates at any state
I've only been living here for a year but I have heard that said, although I'm not sure whether it is true but I'll be sure to follow up as that would be very advantageous if I go to a state school
by CrownVic
Fri Aug 11, 2017 12:06 pm
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

Re: DC 529 Plan vs other states'

main reason for sticking with the DC plan is the probably tax deduction. PS- in your case, planning to move, not sure DC plan is in your long term interest. Usually you have to give any tax deduction back if you transfer out later. Since the tax deduction is an attractive feature, would it potentia...
by CrownVic
Thu Aug 10, 2017 7:40 pm
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

Re: DC 529 Plan vs other states'

main reason for sticking with the DC plan is the probably tax deduction. PS- in your case, planning to move, not sure DC plan is in your long term interest. Usually you have to give any tax deduction back if you transfer out later. Since the tax deduction is an attractive feature, would it potentia...
by CrownVic
Wed Aug 09, 2017 11:35 am
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1188

DC 529 Plan vs other states'

I'm a recent post-undergraduate, having been in the workforce for a year at this point. I'm considering going to business school within the next 10 years, probably sooner. I noticed that progressively more people have been saving for business/grad school with 529 plans. I live in DC but am planning ...
by CrownVic
Mon Jul 31, 2017 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) Conversion to Roth IRA while still in a low tax bracket?
Replies: 15
Views: 1364

Re: 401(k) Conversion to Roth IRA while still in a low tax bracket?

retiredjg wrote: early retirement for many
How would this affect it? Would a Roth still not be advantageous in that situation?
by CrownVic
Mon Jul 31, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) Conversion to Roth IRA while still in a low tax bracket?
Replies: 15
Views: 1364

Re: 401(k) Conversion to Roth IRA while still in a low tax bracket?

Thank you to everyone who replied, I am obviously a novice at this but it's very nice to get some opinions from more experienced people. It definitely seems like converting into the Roth makes more sense, and even in the future as well should I change employers before I even start thinking about ret...
by CrownVic
Wed Jul 26, 2017 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) Conversion to Roth IRA while still in a low tax bracket?
Replies: 15
Views: 1364

Re: 401(k) Conversion to Roth IRA while still in a low tax bracket?

Thanks for the information, very much appreciated. I actually looked up my bracket incorrectly, I'm in the 25% bracket and probably will stay there for the foreseeable future until maybe 5 or so years down the road with a jump into the 28% bracket. Even still, would it make more sense to still conve...
by CrownVic
Wed Jul 26, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) Conversion to Roth IRA while still in a low tax bracket?
Replies: 15
Views: 1364

Re: 401(k) Conversion to Roth IRA while still in a low tax bracket?

Thanks for the response. As of right now I am in the 15% bracket and expect to be in it for a couple more years, but am expecting a jump into the 25%+ brackets after that. Because of that, would you say it's more likely to convert it?
by CrownVic
Mon Jul 24, 2017 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) Conversion to Roth IRA while still in a low tax bracket?
Replies: 15
Views: 1364

401(k) Conversion to Roth IRA while still in a low tax bracket?

I know this has probably been spoken ad nauseam on here, but everything I found was for people in differing situations. For some context, I am about to end my first year with my employer, this being my first year post college graduation so I'm still in a low tax bracket (hopefully that changes in th...