Search found 1581 matches

by MN Finance
Tue May 03, 2016 8:42 pm
Forum: Investing - Help with Personal Investments
Topic: Do you get more SS if you wait, but do not work?
Replies: 11
Views: 1629

Re: Do you get more SS if you wait, but do not work?

He gets more each year he waits, until he's 70. Working or not has nothing to do with that. His benefit is based on two factors: his PIA (which is calculated using his highest 35 years of work history) and his age. If he works and delays his future benefit is probably/possibly higher than if he del...
by MN Finance
Tue May 03, 2016 12:03 pm
Forum: Investing - Theory, News & General
Topic: Stable Value Fees
Replies: 9
Views: 821

Re: Stable Value Fees

You don't look at fees any more than you would with a CFP, unless it's extremely high, in which case you expect the underlying assets to be riskier which is a different risk issue.
by MN Finance
Fri Apr 29, 2016 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: Are these wash sale?
Replies: 5
Views: 317

Re: Are these wash sale?

Yes. I realized that my route 2 is stupid. Thank you! But why I have a wash when buy it back? I remember the wash sale is only triggerred when a loss is realized. Seems unnecessary just to have the dividend paid to the IRA. Secondly when you go back to repurchase ex division, the stock will be trad...
by MN Finance
Thu Apr 28, 2016 6:28 pm
Forum: Investing - Help with Personal Investments
Topic: Are these wash sale?
Replies: 5
Views: 317

Re: Are these wash sale?

Seems unnecessary just to have the dividend paid to the IRA. Secondly when you go back to repurchase ex division, the stock will be trading lower so you'll have a wash on the second transaction. Not that wash sales make any difference anyway, but you'll probably have one.
by MN Finance
Mon Apr 25, 2016 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Sign This Non-Solicitation Agreement Can This Backfire on Me
Replies: 24
Views: 2078

Re: Should I Sign This Non-Solicitation Agreement Can This Backfire on Me

I would much rather sign a clearly unenforceable provision than one that is less restrictive but easily enforced. I've only had to deal with large cos on this topic, not small, so ymmv but seems unlikely they would change your singular contract. Why would they do that? Further even broaching the cha...
by MN Finance
Sun Apr 24, 2016 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Self employed estimated taxes on s-corp income
Replies: 3
Views: 341

Re: Self employed estimated taxes on s-corp income

I withhold about 50% of my payroll income and then none from the dividend/non guaranteed payments so that at year end it's all covered.
by MN Finance
Sun Apr 24, 2016 2:59 pm
Forum: Investing - Help with Personal Investments
Topic: Any good Rationale for putting riskier investments in Roth?
Replies: 26
Views: 2165

Re: Any good Rationale for putting riskier investments in Roth?

None of this Roth discussion is bad or wrong, but don't give this too much thought if it's complicated. Some reasonable tax efficient fund placement is worth doing but don't get hung up on this 'risky assets in a roth' thing. It's much a do about nothing. If you place risky assets in a Roth you're a...
by MN Finance
Sat Apr 23, 2016 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Amending 2014 return on Turbo Tax
Replies: 3
Views: 202

Re: Amending 2014 return on Turbo Tax

Go into forms view and add a form 1040X. Check the top of the form that says 2014. At this point, the 1040x should reflect your existing return. About half way down check the areas you are changing (there is a section called "Manual Selection of Lines Calculated .....) . Then go to the subsidi...
by MN Finance
Sat Apr 23, 2016 1:54 pm
Forum: Investing - Theory, News & General
Topic: Every DFA fund (ex-S&P 500) has underperformed the S&P 500 for the past decade
Replies: 101
Views: 7092

Re: Every DFA fund (ex-S&P 500) has underperformed the S&P 500 for the past decade

. You're title and statements mention DFA, yet your vague conclusion has nothing to do with DFA. You're 1 trying to argue about tilting (ineffectively) and 2 using a decade of one classes out performance to conclude something. This has nothing to do with DFA, so how about craft an evidence based arg...
by MN Finance
Sat Apr 23, 2016 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Amending 2014 return on Turbo Tax
Replies: 3
Views: 202

Amending 2014 return on Turbo Tax

Hi All, I need to amend my 2014 return. I have used TT to file my returns for over a decade so that seems the best route. The problem is that when I went to originally file my 2014 return I could not do so electronically (because of an identify issue with the IRS, so the efile was rejected.) I ended...
by MN Finance
Fri Apr 22, 2016 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: IRA for 10 year old
Replies: 16
Views: 1713

Re: IRA for 10 year old

We use Schwab for our kids' Roths. No fees or minimums and ETFs are just as low/lower cost than VG funds.
by MN Finance
Fri Apr 22, 2016 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Private Wealth Management (Career Change)
Replies: 43
Views: 3024

Re: Private Wealth Management (Career Change)

Jobs for someone with no experience at a firm that you actually would want to work for (comprehensive tax/estate/retirement planning, reasonable cost to investors, AUM and/or hourly) are going to be non-existent unless your best friend runs one. The primary entry to the marketplace is through a big...
by MN Finance
Fri Apr 22, 2016 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Private Wealth Management (Career Change)
Replies: 43
Views: 3024

Re: Private Wealth Management (Career Change)

Not sure if I see eye to eye on that. He charges 1% of AUM. Carries a maximum of 125 clients, minimum of $1M to invest. He only sells low cost mutual funds / ETF's. The company doesn't mind because he brings in business. Business is the high net worth clients. If he left they'd likely lose his book...
by MN Finance
Fri Apr 22, 2016 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Private Wealth Management (Career Change)
Replies: 43
Views: 3024

Re: Private Wealth Management (Career Change)

Jobs for someone with no experience at a firm that you actually would want to work for (comprehensive tax/estate/retirement planning, reasonable cost to investors, AUM and/or hourly) are going to be non-existent unless your best friend runs one. The primary entry to the marketplace is through a big ...
by MN Finance
Tue Apr 19, 2016 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Voya Fixed Account 4%
Replies: 11
Views: 1896

Re: Voya Fixed Account 4%

That's a good high rate but not uncommon for a fixed account. I wouldn't be concerned
by MN Finance
Tue Apr 19, 2016 1:42 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited variable annuity - change custodian?
Replies: 6
Views: 520

Re: Inherited variable annuity - change custodian?

You're not going to find a custodian to take the inherited funds. Your best bet it to elect a payout method that fits your situation.

If the current annuity Co has a fixed account, then use that. The interest rate will be defined and you won't be subject to the m&e fees.
by MN Finance
Sun Apr 17, 2016 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Starting side business: tax questions?
Replies: 1
Views: 249

Re: Starting side business: tax questions?

Sure, you can deduct a business loss on your return. That said, the IRS doesn't allow you to have a business that continues to lose money and deduct the losses. If you lose money 3 out of the last 5 years, they'll classify it as a hobby and deductions aren't allowed. I would search hobby classificat...
by MN Finance
Sat Apr 16, 2016 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life - 2nd to Die Policy - what to do??
Replies: 14
Views: 1082

Re: Whole Life - 2nd to Die Policy - what to do??

If you look at it like an investment with a current value of 230k, annual payments of 5k, and in 20 years a future death benefit of 761k, that amounts to a 4.8% tax free return (in the current non guaranteed table, which is probably reasonable.) Of course, you don't know the exact time frame. Many i...
by MN Finance
Sat Apr 16, 2016 8:14 am
Forum: Investing - Help with Personal Investments
Topic: Count TIAA Traditional towards the bond allocation?
Replies: 17
Views: 951

Re: Count TIAA Traditional towards the bond allocation?

I would count it separately, but I guess that's preference. Ex, a 50/50 allocation might be 50 stock, 25 bond, 25 tiaa. I would prefer a defined, but maybe not precise, allocation to each. Ytd, bonds are up over 3% and tiaa less than 1%. There's value in both.
by MN Finance
Wed Apr 06, 2016 5:50 pm
Forum: Investing - Help with Personal Investments
Topic: Lazy man's portfolio using DFA funds
Replies: 13
Views: 950

Re: Lazy man's portfolio using DFA funds

Just use the corresponding funds in each category. I would use the core funds, especially in taxable. I don't see how that limits control.
by MN Finance
Wed Apr 06, 2016 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: QCDs and state tax
Replies: 12
Views: 625

Re: QCDs and state tax

sarahjane wrote:No charitable deductions in New Jersey.

Is that an add back on the form?
by MN Finance
Wed Apr 06, 2016 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: QCDs and state tax
Replies: 12
Views: 625

Re: QCDs and state tax

What state are you in? Minnesota? I suspect things like this (elimination of deductions, phase out of deductions) will increase in the future as the state & federal budgets get more and more difficult to balance. I believe you can still deduct charitable contributions as usual in MN. They don't...
by MN Finance
Tue Apr 05, 2016 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: QCDs and state tax
Replies: 12
Views: 625

Re: QCDs and state tax

What state are you in? Minnesota? I suspect things like this (elimination of deductions, phase out of deductions) will increase in the future as the state & federal budgets get more and more difficult to balance. I believe you can still deduct charitable contributions as usual in MN. They don't...
by MN Finance
Tue Apr 05, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: QCDs and state tax
Replies: 12
Views: 625

QCDs and state tax

I just realized that our state adds back in QCDs for state tax, which is potentially a really big deal in both a) the analysis of the decision, and b) potential under withholding liability. Google searches are giving me nothing useful. We actually had to go right to the state tax form to see the add...
by MN Finance
Sat Apr 02, 2016 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: Thoughts on Indexed Annuity?
Replies: 31
Views: 2023

Re: Thoughts on Indexed Annuity?

On balance the complexity and restrictions probably dictate that this is not the right product, but everyone should calm down a bit about the cautions. If we assume that the rates listed are indeed accurate, then a 6.5 and 1.5 cap would historically have returned the following (10 year returns from ...
by MN Finance
Sat Apr 02, 2016 3:34 pm
Forum: Investing - Theory, News & General
Topic: "One Vanguard, Many DFAs"
Replies: 16
Views: 2678

Re: "One Vanguard, Many DFAs"

I don't know why anyone cares, since clearly any allocation to either company will, with a coin flip of who's on top, outpace the other 98 of the top 100 options. The S&P 500 is just as 'active' as a passive, non-'indexed' DFA fund. The arithmetics of passive investing apply to the made up S&...
by MN Finance
Thu Mar 31, 2016 7:22 am
Forum: Investing - Theory, News & General
Topic: Non-annuity, annuity-like instrument
Replies: 3
Views: 451

Re: Non-annuity, annuity-like instrument

Is there such an instrument that has the payout certainty of an annuity, but not the risk of forfeiture. I am thinking that the purchaser of this product would have a guaranteed payout, but that in time, say 30 years, would be paid down to zero. But, unlike an annuity, if the purchaser died (or wan...
by MN Finance
Mon Mar 21, 2016 11:13 pm
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting DFA funds??
Replies: 2
Views: 350

Re: Tax Loss Harvesting DFA funds??

If you are swapping the same funds which are held in the 60 40 fund, I would probably find another option. I'm fairly liberal when looking at TLH, but if you own the same underlying funds that seems to be against the intent of the wash sale rules. You should easily be able to find other options. Sec...
by MN Finance
Mon Mar 21, 2016 11:06 pm
Forum: Investing - Help with Personal Investments
Topic: Question on management fees
Replies: 7
Views: 849

Re: Question on management fees

My guess is that your question isn't relevant. The advisor receives their fees and the management firm receives theirs but those fees probably aren't shared. If you're not willing to invest your own money, there is probably a lower cost alterntive, not that you are seeking that. As already mentioned...
by MN Finance
Sun Mar 20, 2016 8:32 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional, what is it, and death of spouse
Replies: 9
Views: 888

Re: TIAA Traditional, what is it, and death of spouse

Thanks this is useful and confusing :-) Just to verify what you said..I did see in the paperwork that one could take is an inherited IRA or roll it over to one in your name. It wasn't clear what the pros/cons were. So if she inherits it and then passes on say in 10-15 years, the heirs will have to ...
by MN Finance
Sun Mar 20, 2016 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional, what is it, and death of spouse
Replies: 9
Views: 888

Re: TIAA Traditional, what is it, and death of spouse

Sorry for your loss. You'll have a difficult decision regarding settlement. Here are your choices: 1) your mom elects to treat the account as an "inherited" IRA/403b/etc. In that case she retains the old, higher, fixed interest rate (probably 3-4%+). They call the inherited account a SIP. ...
by MN Finance
Mon Mar 14, 2016 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: My wife has my fidelity password. If i die, can she transfer?
Replies: 25
Views: 2439

Re: My wife has my fidelity password. If i die, can she transfer?

We are both US citizens. So I understand you are saying we should make each other an authorized user of the other's account to legalize the "sharing" of the account. By taxes i meant to ask in case there is any taxes due for my wife to use the money in my account after my death. No, that'...
by MN Finance
Sun Mar 13, 2016 9:28 pm
Forum: Investing - Theory, News & General
Topic: Closing an account with a CFP and their custodian
Replies: 8
Views: 764

Re: Closing an account with a CFP and their custodian

It appears you're not asking a specific queation, and therefore don't have a specific concern, but rather wondering generally about something you did. Is that right? Your question isn't complicated but I don't think the situation is clear from your post. Your best bet is probably to ask the people i...
by MN Finance
Sun Mar 13, 2016 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: My wife has my fidelity password. If i die, can she transfer?
Replies: 25
Views: 2439

Re: My wife has my fidelity password. If i die, can she transfer?

Unless you're not us citizens this is a non issue.

Like almost every couple in the country, you use joint accounts. There doesn't need to be any goofing around.

If someone dies and you use their password that's potentially fraud.

I don't know what taxes you're referring to.
by MN Finance
Sun Mar 13, 2016 9:17 pm
Forum: Investing - Theory, News & General
Topic: Portland Oregon Ponzi scheme in an FA company
Replies: 16
Views: 2201

Re: Portland Oregon Ponzi scheme in an FA company

Agreed. You should always have a custodian unaffiliated with the FA that can provide info/services 24 7. You never want a firm that ever takes custody. Vanguard should be the exception to that rule. It's fine to have an account at Vanguard, and also get advice from Vanguard CFPs (Voyager Select and...
by MN Finance
Sat Mar 12, 2016 3:48 pm
Forum: Investing - Theory, News & General
Topic: Portland Oregon Ponzi scheme in an FA company
Replies: 16
Views: 2201

Re: Portland Oregon Ponzi scheme in an FA company

Agreed. You should always have a custodian unaffiliated with the FA that can provide info/services 24 7. You never want a firm that ever takes custody.
by MN Finance
Sat Mar 12, 2016 9:49 am
Forum: Investing - Theory, News & General
Topic: Vanguard rep calls: consolidating into brokerage
Replies: 21
Views: 2859

Re: Vanguard rep calls: consolidating into brokerage

Does anyone have a sample of what the brokerage paper statement looks like? Is it identical to the mutual fund statement?
by MN Finance
Thu Mar 10, 2016 11:51 pm
Forum: Investing - Theory, News & General
Topic: where is the fee hiding?
Replies: 16
Views: 1818

Re: where is the fee hiding?

If he's paying per transaction, then that's what he's paying. It's not always a scandal.
by MN Finance
Thu Mar 10, 2016 1:29 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritred assets and want to convert to Roth, MRD question
Replies: 2
Views: 220

Re: Inheritred assets and want to convert to Roth, MRD question

Did you Google this? You'll probably find the answer pretty quick. You can't convert the account
by MN Finance
Wed Mar 09, 2016 10:58 pm
Forum: Investing - Help with Personal Investments
Topic: Advisors & Fee: Where should it come from?
Replies: 11
Views: 1014

Re: Advisors & Fee: Where should it come from?

Of course it depends, everything depends. But you're not taking money that's already been taxed in your non deductible example. You're taking the gain, not the basis. Second, yes it's a small thing relative to the account size. In addition, it's extremity debatable if money is better in an IRA or ta...
by MN Finance
Wed Mar 09, 2016 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Advisors & Fee: Where should it come from?
Replies: 11
Views: 1014

Re: Advisors & Fee: Where should it come from?

You can't deduct non IRA fees from the IRA, so you're limited. But you always direct IRA fees from the IRA because then that money is never taxed, ever, which is never worse than taking from non qualified (there's no long term benefit to keeping the money in the IRA to grow tax deferred, unless it's...
by MN Finance
Tue Mar 08, 2016 9:27 pm
Forum: Investing - Theory, News & General
Topic: Vanguard/Schwab/Fidelity financial consulant
Replies: 21
Views: 2657

Re: Vanguard/Schwab/Fidelity financial consulant

All three firms pay their advisors with about the same general methodology (Vanguard heavier on salary and lighter on bonus than the other two, but still evaluated similarly.) That's relevant because it means you'll have about the same general experience with each firm, though your experience is mas...
by MN Finance
Tue Mar 08, 2016 9:10 pm
Forum: Investing - Theory, News & General
Topic: Pay and investment for 5 yo child
Replies: 39
Views: 3086

Re: Pay and investment for 5 yo child

:idea: This isn't as big of a deal as it's being made to be. 6500 might be slightly high but based on modeling rates it's not necessarily far off. It's certainly not far enough off to elicit a negative reaction in an audit. 3k-4k is easily standard in most markets, could be much higher in some. Must...
by MN Finance
Tue Mar 08, 2016 11:50 am
Forum: Investing - Theory, News & General
Topic: Pay and investment for 5 yo child
Replies: 39
Views: 3086

Re: Pay and investment for 5 yo child

This isn't as big of a deal as it's being made to be. 6500 might be slightly high but based on modeling rates it's not necessarily far off. It's certainly not far enough off to elicit a negative reaction in an audit. 3k-4k is easily standard in most markets, could be much higher in some.
by MN Finance
Mon Mar 07, 2016 11:51 pm
Forum: Investing - Theory, News & General
Topic: Pay and investment for 5 yo child
Replies: 39
Views: 3086

Re: Pay and investment for 5 yo child

I'm a CPA and I agree that we're not typically qualified to address such an issue. But the problem is that if you do get audited and the Service disallows the comp, you then have a penalty issue with the Roth (since that falls away as well). I'm not sure how much risk there is in the determination ...
by MN Finance
Mon Mar 07, 2016 10:19 pm
Forum: Investing - Theory, News & General
Topic: Pay and investment for 5 yo child
Replies: 39
Views: 3086

Re: Pay and investment for 5 yo child

I'm not sure how much risk there is in the determination of pay, but you'd want it to be market rate. My kids model and are paid. 6500 sounds high, and a CPA is not the right source for that rate analysis obviously. That said, nobody will *audit* what you paid your kid (probably just if your busines...
by MN Finance
Fri Mar 04, 2016 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: Is TIAA the opposite of Bogle? Massive confusion- help please
Replies: 32
Views: 2230

Re: Is TIAA the opposite of Bogle? Massive confusion- help please

Rather than doing 70% CREF Stock [ER 0.46] I was considering an option to use: 20% TIAA-CREF International Eq Idx Premier [ER 0.21] 40% TIAA-CREF S&P 500 Index Retire [ER 0.31] 10% Vanguard Extended Market Idx Fund [ER 0.1] So that would give 2/7 Int'l, which is close to the 30% in CREF Stock. ...
by MN Finance
Fri Mar 04, 2016 8:22 pm
Forum: Investing - Help with Personal Investments
Topic: Is TIAA the opposite of Bogle? Massive confusion- help please
Replies: 32
Views: 2230

Re: Is TIAA the opposite of Bogle? Massive confusion- help please

I think it's going to be hard for you to fully understand the details of each contract you have, in part because every single contact is potentially unique. I would ask the advisor to design the simplest 2 or 3 fund portfolio for each account and then invest in that. Your other option is to identity...
by MN Finance
Wed Mar 02, 2016 9:56 am
Forum: Investing - Theory, News & General
Topic: Is a CFP really held to the fiduciary standard of investment practices?
Replies: 23
Views: 1792

Re: Is a CFP really held to the fiduciary standard of investment practices?

A stock broker at Merrill Lynch who is not a CFP could sell you VTI and BND and charge you nothing. I've worked alongside stock brokers at major brokerage firms, and I find that wildly unlikely. People become stock brokers to earn commissions. They love Alec Baldwin's opening speech in "Glenga...

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