Search found 102 matches

by Finance-MD
Mon May 22, 2017 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Help finding private loan for additional education
Replies: 5
Views: 194

Re: Help finding private loan for additional education

Try contacting the financial aid office at the medical school or the university with which it is affiliated. I am sure that that will have suggestions. The website says "Financial Assistance The program does not qualify for federally sponsored or subsidized loans as this is a certificate progr...
by Finance-MD
Mon May 22, 2017 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Help finding private loan for additional education
Replies: 5
Views: 194

Re: Help finding private loan for additional education

Does he stop working for the year program? Both 1 and 2 are bad options. How about a personal loan from the bank/credit union? Does he have any cash/savings? A car he can sell? Not working for a year will cost $60k. Plus $18k for the program. Healthcare during the year? He's tried some banks withou...
by Finance-MD
Sun May 21, 2017 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Help finding private loan for additional education
Replies: 5
Views: 194

Help finding private loan for additional education

Asking for a friend. He is in his mid 20's and was one of 5 applicants to get accepted (out of 300+ applicants) for an additional certification that will allow him to do a different (but related) job in health care and increase his salary from ~60k to ~85k, with significantly more room to go up (e.g...
by Finance-MD
Fri May 19, 2017 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Quickest Path to Financial Independence
Replies: 10
Views: 1489

Re: Quickest Path to Financial Independence

How much are you earning right now per year? Are you earning 50k-100k right now and want to replace it 100% or are you making 200k-300k and looking to replace a portion of it? In general, if you own unleverged rental real estate, you will get a higher dividend payout (rent) in proportion to value g...
by Finance-MD
Thu May 18, 2017 9:53 pm
Forum: Investing - Help with Personal Investments
Topic: Quickest Path to Financial Independence
Replies: 10
Views: 1489

Re: Quickest Path to Financial Independence

How much are you earning right now per year? Are you earning 50k-100k right now and want to replace it 100% or are you making 200k-300k and looking to replace a portion of it? In general, if you own unleverged rental real estate, you will get a higher dividend payout (rent) in proportion to value gr...
by Finance-MD
Thu May 18, 2017 7:19 am
Forum: Investing - Help with Personal Investments
Topic: Help with picking 401k investments
Replies: 9
Views: 587

Re: Help with picking 401k investments

Your federal marginal tax rate is very very important for us https://www.irs.com/articles/2016-federal-tax-rates-personal-exemptions-and-standard-deductions for quick high estimate Taxable income = gross earnings - $20,000. If you want to be closer Taxable income = gross earnings - $8000 - home mort...
by Finance-MD
Wed May 17, 2017 11:09 pm
Forum: Investing - Help with Personal Investments
Topic: Shifting Taxable Investments to Roth 401K
Replies: 17
Views: 791

Re: Shifting Taxable Investments to Roth 401K

OP, once you get your first paycheck with max Roth 401k contribution, feel free to post an update as to how much you were able to get in and how many paychecks left. We can help you from there. One note, when signing up for the amount of Roth 401k you are contributing, some institutions only allow a...
by Finance-MD
Wed May 17, 2017 7:08 pm
Forum: Investing - Help with Personal Investments
Topic: Updates to our financial situation & a few questions..
Replies: 15
Views: 1095

Re: Updates to our financial situation & a few questions..

I think $20k-$25k is a lot to keep in a regular checking account... this thread discusses what other people do https://www.bogleheads.org/forum/viewtopic.php?t=109250 it's not hard to open a savings account. it can be done online quickly. The interest adds up. Keeping it in checking with low interes...
by Finance-MD
Wed May 17, 2017 5:31 pm
Forum: Investing - Help with Personal Investments
Topic: How Much for 529 Plan
Replies: 28
Views: 2119

Re: How Much for 529 Plan

do you have enough for your retirement? if you're not concerned about retirement, i'd say make sure to get the state tax deduction while you're earning income. The money in a 529 can always be taken out with penalties, but you can save a lot on the tax protected space over time. The post-tax portio...
by Finance-MD
Wed May 17, 2017 5:26 pm
Forum: Investing - Help with Personal Investments
Topic: How Much for 529 Plan
Replies: 28
Views: 2119

Re: How Much for 529 Plan

do you have enough for your retirement? if you're not concerned about retirement, i'd say make sure to get the state tax deduction while you're earning income. The money in a 529 can always be taken out with penalties, but you can save a lot on the tax protected space over time. The post-tax portio...
by Finance-MD
Wed May 17, 2017 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Article: "Our emergency fund is exactly $0.00"
Replies: 73
Views: 7168

Re: Article: "Our emergency fund is exactly $0.00"

DW & I both have W-2 jobs and we live comfortably off of one income. We create a 3-months-of-bills EF last year that we were happy to fill up. But we also escrow cash for property tax on multiple properties as well as income tax and let her paycheck just sit in cash for months until we deploy it...
by Finance-MD
Wed May 17, 2017 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: Mini Milestone 100K
Replies: 19
Views: 1506

Re: Mini Milestone 100K

Congrats!
The first $100k is the hardest. And as people have noted... you are *WAY* ahead of the average.
On to the next $100k!
by Finance-MD
Wed May 17, 2017 5:07 pm
Forum: Investing - Help with Personal Investments
Topic: Shifting Taxable Investments to Roth 401K
Replies: 17
Views: 791

Re: Shifting Taxable Investments to Roth 401K

OP, Why would you want to contribute to Roth 401K? You save 25% + 3.75 = 28.75% tax by contributing to Trad. 401K. You could contribute to Trad. 401K and put the tax savings (up to 5.5K) into Roth IRA. Then, you get more money in your own pocket. KlangFool Klangfool, I think this year he'll only be...
by Finance-MD
Wed May 17, 2017 5:03 pm
Forum: Investing - Help with Personal Investments
Topic: How Much for 529 Plan
Replies: 28
Views: 2119

Re: How Much for 529 Plan

do you have enough for your retirement? if you're not concerned about retirement, i'd say make sure to get the state tax deduction while you're earning income. The money in a 529 can always be taken out with penalties, but you can save a lot on the tax protected space over time. The post-tax portion...
by Finance-MD
Wed May 17, 2017 4:59 pm
Forum: Investing - Help with Personal Investments
Topic: IRA to Roth IRA Conversion - your input please
Replies: 6
Views: 359

Re: IRA to Roth IRA Conversion - your input please

As you indicated, the components of the funds don't matter as much because you can switch them. I'm not as well versed on such topics, but I think it's better to maximize Roth conversions for you each year since you'll be getting hit with RMD's first. The smaller amount in pre-tax, the less RMD's yo...
by Finance-MD
Wed May 17, 2017 4:44 pm
Forum: Investing - Help with Personal Investments
Topic: Updates to our financial situation & a few questions..
Replies: 15
Views: 1095

Re: Updates to our financial situation & a few questions..

looks good. if you do DCA, what will you invest the rest of it while waiting? high-yield savings? you can use a target date account and adjust bond allocation. but if you are going to have so much VTSAX, why not just buy the components (US TSM, Total Int'l, Total Bond) and adjust the bond allocatio...
by Finance-MD
Wed May 17, 2017 4:34 pm
Forum: Investing - Help with Personal Investments
Topic: Shifting Taxable Investments to Roth 401K
Replies: 17
Views: 791

Re: Shifting Taxable Investments to Roth 401K

Congratulation's on finishing Med School and moving on to residency! First thing, the 25% federal tax bracket kicks in at the end of the 15% bracket, which maxes at $37,951 (let's call that $38,000) of taxable earnings. http://www.bankrate.com/finance/taxes/tax-brackets.aspx Without knowing your tax...
by Finance-MD
Wed May 17, 2017 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: Updates to our financial situation & a few questions..
Replies: 15
Views: 1095

Re: Updates to our financial situation & a few questions..

looks good. if you do DCA, what will you invest the rest of it while waiting? high-yield savings? you can use a target date account and adjust bond allocation. but if you are going to have so much VTSAX, why not just buy the components (US TSM, Total Int'l, Total Bond) and adjust the bond allocation...
by Finance-MD
Tue May 16, 2017 10:48 pm
Forum: Investing - Help with Personal Investments
Topic: 401(a) & 403(b) TIAA
Replies: 8
Views: 587

Re: 401(a) & 403(b) TIAA

Thanks so much for your insight! You're right about the TIAA Traditional GSRA, it's only available on the 403b plan. I have the TIAA Traditional in my 401a. I have some questions about your equities recommendations. In prior threads, others on the site have noted that CREF Stock is all you need bec...
by Finance-MD
Tue May 16, 2017 1:07 am
Forum: Investing - Help with Personal Investments
Topic: New Graduate w/ Large Loans & New Job - Options
Replies: 25
Views: 1672

Re: New Graduate w/ Large Loans & New Job - Options

Since you are in a for profit institution, refinance your student loans to a lower rate. With good credit, you can get a 20year fixed rate likely anear 5%. If you go to shorter terms and/or with variable rates you can go lower. You can also do multiple loans with different terms. The different payof...
by Finance-MD
Mon May 15, 2017 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5302

Re: What home improvements are worth it

I didn't say they "can't", I said the average return in less than 100%. Home improvements "can" make money, and picking stocks "can" beat the market. As a general rule though, neither tends to work out in an investor's favor. Fair point. Works for some uniquely skilled...
by Finance-MD
Mon May 15, 2017 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5302

Re: What home improvements are worth it

I didn't say they "can't", I said the average return in less than 100%. Home improvements "can" make money, and picking stocks "can" beat the market. As a general rule though, neither tends to work out in an investor's favor. Fair point. Works for some uniquely skilled...
by Finance-MD
Mon May 15, 2017 10:20 am
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5302

Re: What home improvements are worth it

The improvement value of any renovations you make now will depreciate until the time you sell. If you are happy with the way things are, it is more cost effective to delay the upgrades until the time you will capture a return on the investment. Home decor and styling routinely cycle out of favor eve...
by Finance-MD
Sun May 14, 2017 7:41 am
Forum: Investing - Help with Personal Investments
Topic: Opportunity Cost: pay off student loan 3% or save for down payment 4%+ mortgage
Replies: 6
Views: 574

Re: Opportunity Cost: pay off student loan 3% or save for down payment 4%+ mortgage

Going to throw a wrench into the situation and say perhaps neither? Congratulations on paying down so much of your debt thus far and refinancing again, which I'm sure brought your monthly payments down, which should help your debt-to-income ratio. Your student loan payments are probably not much mor...
by Finance-MD
Sat May 13, 2017 7:26 am
Forum: Investing - Help with Personal Investments
Topic: 401(a) & 403(b) TIAA
Replies: 8
Views: 587

Re: 401(a) & 403(b) TIAA

TIAA has some very good options that vanguard doesn't have, in particular TIAA traditional, which gives guaranteed rates of at least 3% in the accumulation phase. 0.3-0.4% ER's are not horrible! US Equities CREF Equity index (ER 0.34) (This tracks the total US stock market). Vanguard small cap index...
by Finance-MD
Sat May 13, 2017 6:53 am
Forum: Investing - Help with Personal Investments
Topic: Rolling over traditional IRA to Solo 401k - Questions
Replies: 8
Views: 538

Re: Rolling over traditional IRA to Solo 401k - Questions

If at 0-15% marginal rate I recommend Roth as rule of thumb. Also depends on other things (state tax rate, expectations in retirement with pensions, etc.). Simplicity is great though, and if this is a one and done and your marginal rate isn't substantially higher than your expected future effective ...
by Finance-MD
Fri May 12, 2017 11:30 pm
Forum: Investing - Help with Personal Investments
Topic: Old 401k and backdoor ROTH IRA
Replies: 5
Views: 388

Re: Old 401k and backdoor ROTH IRA

If you do Roth conversion you will pay 25% federal tax on the conversion up until you hit the 28% bracket, then 28% until you hit 33% bracket, then 33% for the rest of it. This would be most likely not advantageous. Can she earn some self employment income in order to open up a solo401k? You don't n...
by Finance-MD
Fri May 12, 2017 8:16 am
Forum: Investing - Help with Personal Investments
Topic: How to invest 1099 income when also investing in 403b and 457b
Replies: 4
Views: 298

Re: How to invest 1099 income when also investing in 403b and 457b

Please see my previous thread here https://www.bogleheads.org/forum/viewtopic.php?f=10&t=216370&hilit=Sep And this link http://finance.zacks.com/rules-regulations-sep-ira-rollover-4588.html 401k (solo or otherwise) and 403b deferrals both have a combined max of 18000 per year. If you already...
by Finance-MD
Wed May 10, 2017 11:22 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Planning as related to medical school
Replies: 12
Views: 1300

Re: 529 Planning as related to medical school

Agree with jasper. She's going to have to learn to make her own financial decisions in the future, and it's better she learn them now. Managing her own financing of education will put more skin in the game for her.... I work in a specialty with likely/possibly the highest percentage if MD/PhD's. nob...
by Finance-MD
Wed May 10, 2017 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: How should I refinance my resident home?
Replies: 23
Views: 1058

Re: How should I refinance my resident home?

0.75% difference in interest (less if it's tax deductible) is a small benefit for cutting the amortization in half and increasing your DTI. It's not clear what the cash flow and DTI difference is for you without the numbers, but a 15 year loan is a bigger liability to have given the larger payment....
by Finance-MD
Wed May 10, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: How should I refinance my resident home?
Replies: 23
Views: 1058

Re: How should I refinance my resident home?

I'd let your wife have her way on the house and you can take the risks on your rental properties. You're pretty heavy on the real estate equity side which has probably worked well for the last 5 years. But markets turn and you still need to sleep at night. Good luck on whatever decision you make. I...
by Finance-MD
Wed May 10, 2017 12:29 am
Forum: Investing - Help with Personal Investments
Topic: Help with Retirement planning, reducing taxes
Replies: 10
Views: 1333

Re: Help with Retirement planning, reducing taxes

correct - no penalties for traditional 401k up to 18k for you and 18k for your spouse. your company should at least be doing if your spouse already defers 18k at her other job, you could consider switching your practice to SEP so that she can earn a SEP contribution from your practice and you as wel...
by Finance-MD
Tue May 09, 2017 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: How should I refinance my resident home?
Replies: 23
Views: 1058

Re: How should I refinance my resident home?

0.75% difference in interest (less if it's tax deductible) is a small benefit for cutting the amortization in half and increasing your DTI. It's not clear what the cash flow and DTI difference is for you without the numbers, but a 15 year loan is a bigger liability to have given the larger payment. ...
by Finance-MD
Mon May 08, 2017 10:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help with Retirement planning, reducing taxes
Replies: 10
Views: 1333

Re: Help with Retirement planning, reducing taxes

Definitely would do traditional 401k since at 39.6% tax bracket. Yes more money gets protected if you do Roth, but the ~$7200 in tax savings on 18k pretax can be invested in taxable. This is the easiest way to bring down taxes quickly. You say you are maxing 401k's out but you only have 65k in there...
by Finance-MD
Sun May 07, 2017 12:10 am
Forum: Investing - Help with Personal Investments
Topic: 3 Fund Portfolio with TSP help
Replies: 34
Views: 2710

Re: 3 Fund Portfolio with TSP help

Vanguard extended market is 50% small cap.
Vanguard Total Stock market is 9% small cap.

Usually people do SP500 to Extended Market in a 4:1 ratio (80%/20%). The bogleheads wiki on approximating TSM says 81%/19%. If sp500 is anywhere in the 80-85% range, results will be very very similar.
by Finance-MD
Sat May 06, 2017 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: Public University (Texas) Retirement Options
Replies: 13
Views: 1206

Re: Public University (Texas) Retirement Options

Your TSA 403b can be Roth or pretax. That's the only one that has a Roth option. Thanks for the helpful information! For someone making $270k+, is there any reason to use the Roth option, when presumably one's income and thus tax rate in retirement will be lower? My understanding is that making thi...
by Finance-MD
Sat May 06, 2017 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Rent or Buy Considerations
Replies: 7
Views: 886

Re: Rent or Buy Considerations

Are you in a no tax state? Otherwise, not sure why you would not likely be able to itemize. If you are getting 4% on the mortgage and not itemizing, then the effective rate is 4%. If you are confident that you will comfortably earn a net return >4% on investments, are you okay with using the lowest ...
by Finance-MD
Thu May 04, 2017 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Public University (Texas) Retirement Options
Replies: 13
Views: 1206

Re: Public University (Texas) Retirement Options

I've spent so many hours on this that I want to make a wiki on the UT retirement system. My wife is in ORP. We got vesting in 1 year. Awesome. 457b has 18000 limit. All pre-tax. Doesn't interfere with ANY other accounts. Very easy. If you choose ORP (403b) 6.65% employee contribution each paycheck (...
by Finance-MD
Sun Apr 30, 2017 11:14 pm
Forum: Investing - Help with Personal Investments
Topic: Interesting Tax Guide - 2017
Replies: 18
Views: 2428

Re: Interesting Tax Guide - 2017

Awesome e-book! Nice to see a book about investing this with a focus on taxes with clear examples. Thanks for sharing :beer
by Finance-MD
Sun Apr 30, 2017 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: Truck purchase: buy new vs buy used vs lease analysis
Replies: 23
Views: 2002

Re: Truck purchase: buy new vs buy used vs lease analysis

Have you ever looked into swapalease.com or leasetrader.com?
Taking over a lease without a down payment can be very inexpensive. In michigan, you can routinely find pickup truck leases at ~$250/month... rates are highly variable by state.
by Finance-MD
Sun Apr 30, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: If you pay a high AMT, would you take out $1M mortgage?
Replies: 45
Views: 3731

Re: If you pay a high AMT, would you take out $1M mortgage?

I have a hard time swallowing someone whose family income is almost 4 times as much as mine complaining about taxes which are 1/3 of what I pay . Clearly you have no idea what you are talking about. re-read the OP and if you don't understand google AMT. I have already done that after a previous res...
by Finance-MD
Sat Apr 29, 2017 7:45 pm
Forum: Investing - Help with Personal Investments
Topic: Three fund portfolio for my 401K
Replies: 4
Views: 547

Re: Three fund portfolio for my 401K

Vanguard institutional index is a s&p500 fund which is very close to vtsax (they track each other well.) the s&p500 fund is 80% of vtsax. Vanguard total international stock index institutional instead of vtiax vanguard total bond institutional index as your bond fund Instead of vbtlx The ins...
by Finance-MD
Fri Apr 28, 2017 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: If you pay a high AMT, would you take out $1M mortgage?
Replies: 45
Views: 3731

Re: If you pay a high AMT, would you take out $1M mortgage?

It's in a HCOL area where the median home is 1.5M and it cash flows as a rental. How much down are you putting? Sounds like the Bay Area but I can't imagine cash flow positive taking into account 1.2% property tax and mortgage, unless with a super high down payment of 50% or more. Yeah, Bay Area a ...
by Finance-MD
Thu Apr 27, 2017 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: If you pay a high AMT, would you take out $1M mortgage?
Replies: 45
Views: 3731

Re: If you pay a high AMT, would you take out $1M mortgage?

As posters have said, mortgage interest is on both the AMT deduction list and also schedule A. You will have to run simulations and understand tax laws can change at any time. DW and I are both high W-2 earners. We get the full max out of 401k, 403b, 457 employer and employee sides, a bit extra to S...
by Finance-MD
Wed Apr 26, 2017 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance to 15 Yr Mortgage
Replies: 12
Views: 1523

Re: Refinance to 15 Yr Mortgage

Can make sense to use home equity loan that is slightly higher interest rate to refinance lower rate student loan if the home equity loan is tax deductible and you are over the student loan deductibility income limits (!)
by Finance-MD
Wed Apr 26, 2017 8:37 pm
Forum: Personal Consumer Issues
Topic: Porsche Lease
Replies: 56
Views: 4101

Re: Porsche Lease

Have you looked into taking over someone else's lease? It can be a very cheap way to get into a lease since you can avoid the down payment. Also, some people get in way over their head with the monthly payments of high end luxury cars and will literally pay someone to take the lease off their hands....
by Finance-MD
Wed Apr 26, 2017 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance to 15 Yr Mortgage
Replies: 12
Views: 1523

Re: Refinance to 15 Yr Mortgage

With your lower refi costs that makes more sense. 1 yr breakeven. With other loan, I'd just take the closing costs and make a lump sum paydown if current one. Then pay the extra you would have for 15 yr but apply that to the 30. Youll only end up paying a little extra interest. Maybe just a couple e...
by Finance-MD
Wed Apr 26, 2017 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1321

Re: Refinance student loan to Earnest?

benevo: What about closing costs; transfer fees, credit checks, etc..? Best wishes. Taylor Good morning! These are student loans, not their mortgages. But, there are no transfer fees, no loan origination fees, no early payoff fees, etc. Thanks! benevo: Thank you. I learn here like everyone else. Be...
by Finance-MD
Wed Apr 26, 2017 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance student loan to Earnest?
Replies: 24
Views: 1321

Re: Refinance student loan to Earnest?

I have refinanced with sofi, link capital, and citizens bank. citizens has actually had the best rates if you have a citizens bank account in my 2 previous checks for refinancing. They don't advertise as much or give referral bonuses, so people hear less about them. I have 20 Yr fixed at like 5.2%. ...

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