Search found 370 matches

by Rainmaker41
Tue Aug 22, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: What is your cash reserve limit, above which you invest?
Replies: 25
Views: 2169

Re: What is your cash reserve limit, above which you invest?

Reserve: 6 months' expenses, including cost of Marketplace health insurance in case of job loss, in cash savings and CDs. Contingency (travel, electronics, furniture, clothes): Planned annually. If $3k / year, then $250 / month is transferred to savings unless spent. Assuming income is stable, if th...
by Rainmaker41
Wed Aug 16, 2017 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: How can I keep track of my monthly spendings?
Replies: 27
Views: 1700

Re: How can I keep track of my monthly spendings?

Back when I barely made enough income to get by, I used to meticulously track every expense and balance all accounts every few days. Now I have an annual financial plan in which the goal is to maintain auto-contributions to investment accounts and for cash (savings and checking) to be roughly the sa...
by Rainmaker41
Wed Aug 16, 2017 11:38 am
Forum: Investing - Theory, News & General
Topic: Social Security for Millennials
Replies: 159
Views: 18248

Re: Social Security for Millennials

I'm a millennial, 34. Yes, I'm counting on SS, but I don't think about it. I'm trying to prepare like SS will be gravy as mentioned above. I know many of us millennials are concerned about this, but from the folks I know who made $50K a year and are retireing on a small nest egg (maybe 100-200K) an...
by Rainmaker41
Sun Aug 13, 2017 8:06 am
Forum: Personal Finance (Not Investing)
Topic: How does personal wealth affect job hunting?
Replies: 57
Views: 6568

Re: How does personal wealth affect job hunting?

This 1969 advertisement from a bank is applicable in my view: ' The Pleasure of Walking Tall Your savings, believe it or not, affect the way you stand, the way you walk, the tone of your voice. In short, your physical well-being and self-confidence. A man without savings is always running. He must. ...
by Rainmaker41
Sat Aug 12, 2017 5:23 pm
Forum: Investing - Help with Personal Investments
Topic: Need help in selecting Bond index equivalent at workplace 401K option
Replies: 9
Views: 548

Re: Need help in selecting Bond index equivalent at workplace 401K option

3% real return is a more optimistic long-run return than I 'plan' on getting for my entire portfolio during my career! If there are no gotchas or withdrawal restrictions/penalties , then I'd absolutely use that for the bond portion of your allocation. The risk-adjusted return on it sounds incredible.
by Rainmaker41
Sat Aug 12, 2017 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Thank you Bogleheads
Replies: 2
Views: 545

Thank you Bogleheads

I want to thank the Bogleheads community for its wisdom, inspiration, and encouragement. Two years ago I was still working for a temp agency two years out of college, and learned my current assignment was ending. Another opportunity came up, and it has ultimately led to a permanent job paying nearly...
by Rainmaker41
Fri Aug 11, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Navy Fed CU 5-month 3% $10k CDs
Replies: 7
Views: 1449

Re: Navy Fed CU 5-month 3% $10k CDs

Sigh... no 'donate $5 to this charity to be eligible to join the credit union' option.
by Rainmaker41
Wed Aug 09, 2017 4:44 pm
Forum: Personal Consumer Issues
Topic: small plan 403b contribution deadline
Replies: 0
Views: 93

small plan 403b contribution deadline

My nonprofit, non-church employer's 403b plan has fewer than 100 active participants. We are paid twice a month, and the most recent contribution was for June 30th, and was not deposited until July 20th. As of August 8th, the contribution for July 15th has not been made to the plan. From 2016 throug...
by Rainmaker41
Tue Aug 01, 2017 1:36 pm
Forum: Personal Consumer Issues
Topic: What are your monthly expenses?
Replies: 59
Views: 5970

Re: What are your monthly expenses?

2 person household, 0 kids, high cost of living city Health insurance for employee and spouse: 320 pre-FICA & income tax --- Rent: 1,275 (including water & trash in economical studio) Electricity: 70 (guess; just moved to a new apartment) Phones & Internet: 130 (not counting new devices as needed) F...
by Rainmaker41
Thu Jul 20, 2017 3:49 pm
Forum: Investing - Help with Personal Investments
Topic: Thoughts on life insurance while young…
Replies: 10
Views: 905

Thoughts on life insurance while young…

Thoughts on life insurance while young… Assume: $50k retirement accounts and $15k cash at the end of 2017. We are 26 in good health, and currently have no kids, mortgage, or debt. If one of us died, the other would lose access to up to 50k in gross annual income. She or I would lose the economy of s...
by Rainmaker41
Thu Jul 13, 2017 10:42 am
Forum: Investing - Help with Personal Investments
Topic: Improving a 403b plan
Replies: 3
Views: 351

Re: Improving a 403b plan

CyclingDuo, your suggestions are brilliant. Thank you.

Our Roth IRAs will be maxed out for the 2017 tax year. :)
by Rainmaker41
Tue Jul 11, 2017 8:13 pm
Forum: Investing - Help with Personal Investments
Topic: Improving a 403b plan
Replies: 3
Views: 351

Improving a 403b plan

Hello all, I am a fairly junior member of my employer's HR team. Today while I was routinely requesting paperwork, form templates, etc. for our employees, our 403b plan advisor (CFP of some kind) mentioned to me that he thought it was time for us to look at doing a total refresh of the plan for Janu...
by Rainmaker41
Fri Jul 07, 2017 8:20 pm
Forum: Investing - Help with Personal Investments
Topic: Living off of Taxable to max 401K
Replies: 11
Views: 827

Re: Living off of Taxable to max 401K

We are doing this now. Because our situation has changed for the better, we have surplus cash. To get the full benefit of my flat 25% 403b match, we have to fill it up. It's not using up taxable to cover an operating deficit in my book; it's moving taxable *into* the work plan indirectly. Incidental...
by Rainmaker41
Thu Jul 06, 2017 4:04 am
Forum: Investing - Help with Personal Investments
Topic: Keep Intl. Stock AA in IRA or Avoid 403b bond fund ER?
Replies: 3
Views: 262

Re: Keep Intl. Stock AA in IRA or Avoid 403b bond fund ER?

Thank you. When I say my US stock allocation in my IRA will fall to $3,000, I mean that, in addition to contributing $500 monthly to the international stock fund, I would need to exchange some US stock for international stock in the IRA. The monthly 403b contribution is disproportionately large enou...
by Rainmaker41
Wed Jul 05, 2017 7:55 pm
Forum: Investing - Help with Personal Investments
Topic: (26YO) Financial/Investment Life Planning (Opinions wanted).
Replies: 19
Views: 1324

Re: (26YO) Financial/Investment Life Planning (Opinions wanted).

100% match on first 3% and 50% match on next 2% is a higher instant return than the 10% student loans. Keep getting the full 401k match; it's free money. After that, I agree with other posters that all available income should be shoveled at the debt. Welcome to the forum and good luck. You've got tw...
by Rainmaker41
Wed Jul 05, 2017 7:32 pm
Forum: Investing - Help with Personal Investments
Topic: Keep Intl. Stock AA in IRA or Avoid 403b bond fund ER?
Replies: 3
Views: 262

Keep Intl. Stock AA in IRA or Avoid 403b bond fund ER?

Portfolio Today Cash: Sufficient reserves & wedding expenses set aside. Debt: 0. Tax Filing Status: Federal: Married Filing Joint. State: Married Filing Separately on the Same Return (DC after July for Her; partial year) Tax Rate: 15% Federal, 6% State State of Residence: DC/MD Age: 27 & 26...
by Rainmaker41
Mon Jul 03, 2017 3:56 pm
Forum: Investing - Help with Personal Investments
Topic: Help a 21 y/o Vanguard Investor with a Taxable Account
Replies: 55
Views: 3247

Re: Help a 21 y/o Vangaurd Investor with a Taxable Account

Do not underestimate the value of tax-advantaged accounts in the long run. Consider drawing down surplus cash while simultaneously increasing contributions to your 401k. In effect, you are moving taxable cash into tax-advantaged investments.
by Rainmaker41
Sun Jul 02, 2017 4:46 pm
Forum: Investing - Theory, News & General
Topic: Effective Tax Rate
Replies: 10
Views: 1247

Re: Effective Tax Rate

My definitions Taxes: all taxes which are based on income, paid by the employee. FICA, Federal, State, and Local. Gross Income: gross wages & salary plus employer contributions to any tax-advantaged accounts before deductions for benefits and tax-advantaged account contributions of any kind. Te...
by Rainmaker41
Sat Jul 01, 2017 6:38 pm
Forum: Investing - Theory, News & General
Topic: When Did You Start Investing Your Own Money?
Replies: 47
Views: 3134

Re: When Did You Start Investing Your Own Money?

A few weeks after I turned 25 back in December 2015, I took a nontrivial chunk of my life savings and threw $3.5k into a Vanguard IRA to just squeak under the AGI limit for the full ~ nominal $1,000 ~ Saver's Credit. This was 16% of my gross income of $22k for the year, but wiped out the entirety of...
by Rainmaker41
Fri Jun 16, 2017 10:00 pm
Forum: Investing - Help with Personal Investments
Topic: Permanent job (finally), curious 403b match; thoughts?
Replies: 6
Views: 746

Permanent job (finally), curious 403b match; thoughts?

Thank you Bogleheads! After 1.5 years with my employer as a temp whose contract kept being extended, I now have an offer for a full-time permanent job from July onward. I was to be laid off at the end of June from my department, but was invited to apply for a position in an expanding department. I h...
by Rainmaker41
Tue Jun 06, 2017 4:35 pm
Forum: Personal Consumer Issues
Topic: [Moving to] Washington, DC Navy Yard Area
Replies: 12
Views: 1250

Re: Washington, DC Navy Yard Area

Your feet are more reliable than the metro, which is more reliable in turn than attempting to drive in DC during rush hour (or ever really).
by Rainmaker41
Wed May 24, 2017 8:39 am
Forum: Investing - Help with Personal Investments
Topic: Transfer existing 401K to SEP-IRA or Solo 401K ?
Replies: 3
Views: 169

Re: Transfer existing 401K to SEP-IRA or Solo 401K ?

IMPORTANT: He does NOT want to have to offer the new SEP or Solo 401K to his employees. Too much headache right now. This is why the IRS has nondiscrimination testing and requires 401k plans to be available to most employees, with allowed exclusions until X hours worked, etc. Congress has decreed t...
by Rainmaker41
Thu May 18, 2017 8:52 pm
Forum: Investing - Help with Personal Investments
Topic: Is it better to stay at 19 or 24 paychecks per year?
Replies: 18
Views: 1853

Re: Is it better to stay at 19 or 24 paychecks per year?

you're giving them a 0% loan if you do 24 paychecks. I'm making a couple assumptions here, but with 19 paychecks, by August 15 you will have received about 52% of your yearly pay. If you were paid 24 times a year, by August 15 you will have received 62.5% of your yearly pay. Taking 19 paychecks is ...
by Rainmaker41
Tue May 16, 2017 4:25 pm
Forum: Investing - Help with Personal Investments
Topic: Article: "Our emergency fund is exactly $0.00"
Replies: 73
Views: 8218

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

My job is not guaranteed. I don't have taxable investments, only taxable cash. The opportunity cost of sacrificed theoretical long-term gains is the premium I pay to insure myself against hefty emergencies. This self-insurance package also includes not having to worry about complicated or stress-in...
by Rainmaker41
Tue May 16, 2017 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: Article: "Our emergency fund is exactly $0.00"
Replies: 73
Views: 8218

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

My job is not guaranteed. I don't have taxable investments, only taxable cash. The opportunity cost of sacrificed theoretical long-term gains is the premium I pay to insure myself against hefty emergencies. This self-insurance package also includes not having to worry about complicated or stress-ind...
by Rainmaker41
Mon May 15, 2017 8:11 am
Forum: Personal Consumer Issues
Topic: How do Bogleheads buy cars?
Replies: 71
Views: 8233

Re: How do Bogleheads buy cars?

Caduceus wrote:I think the new generation of Bogleheads will just uber everywhere. No more car purchases. :D


I just walk or failing that take public transit. Taking a taxi/Uber unnecessarily goes against the tightfisted way I was raised. :)
by Rainmaker41
Fri May 12, 2017 8:01 am
Forum: Investing - Help with Personal Investments
Topic: 403b election withheld, but not all contributed to plan
Replies: 4
Views: 530

Re: 403b election withheld, but not all contributed to plan

Update: My employer made a corrective contribution to my account, so my 403b is now good for pay through the middle of April. Now I just have to contend with late 403b contributions in general. I am now paid via ACH transaction initiated on the first business day after the 15th and end of the month ...
by Rainmaker41
Sat May 06, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: savings account versus money market fund
Replies: 13
Views: 2420

Re: savings account versus money market fund

Capital One 360 has a Money Market Account . If you want to stay at Capital One, the $10k minimum MMA offers 1% APY. You can have less than $10k in the MMA, but the interest will be less; 0.60% APY. Given your setup, moving all 'savings' designated cash to the MMA makes sense to me. Other online ban...
by Rainmaker41
Fri May 05, 2017 4:23 pm
Forum: Investing - Help with Personal Investments
Topic: Which to Fund First? Roth IRA vs 401k
Replies: 10
Views: 865

Re: Which to Fund First? Roth IRA vs 401k

The standard thinking in general is to: 1. first contribute to the 401k up the employer match to essentially increase your gross salary via savings. 2. then contribute to your IRA (Roth or traditional pre-tax as you judge sensible) if that gives access to lower ER investments. Your calculations are ...
by Rainmaker41
Fri May 05, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: When you didn't have 401(k)/403(b), did you have IRA?
Replies: 46
Views: 2441

Re: When you didn't have 401(k)/403(b), did you have IRA?

So what nudges can the free market provide? 1. The desire to save. 2. The means to save. Sufficient income decently above the poverty level to do so. 3. The know-how to save efficiently. Educational efforts by non-state entities (AARP? Bogleheads? etc.) on the need and know-how to invest for retire...
by Rainmaker41
Fri May 05, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: When you didn't have 401(k)/403(b), did you have IRA?
Replies: 46
Views: 2441

Re: When you didn't have 401(k)/403(b), did you have IRA?

Someone linked to an enlightening report in another thread. Who actually contributes to Individual Retirement Accounts (not including Bogleheads )? Interesting report by Center for Retirement Research at Boston College. Here's the link: m IRAs are intended as consolation 401k or pension plans for wo...
by Rainmaker41
Fri May 05, 2017 11:09 am
Forum: Investing - Theory, News & General
Topic: U.S. SEC approves request to list quadruple-leveraged ETFs
Replies: 27
Views: 2426

Re: U.S. SEC approves request to list quadruple-leveraged ETFs

Please tell me this is a joke. I didn't even know leveraged ETFs existed; seems their purpose is to make day trading even more volatile and casino-like.
by Rainmaker41
Thu May 04, 2017 2:07 pm
Forum: Investing - Theory, News & General
Topic: Are we all forgetting our taxable accounts?
Replies: 79
Views: 10399

Re: Are we all forgetting our taxable accounts?

We are contributing to tax-advantaged retirement accounts to the extent we can afford now (age 26), understanding that with this savings rate our retirements might be over-funded under optimistic scenarios. If we want to "withdraw" from retirement accounts later pre-retirement, we would do...
by Rainmaker41
Wed May 03, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: [POLL] What is your personal saving rate?
Replies: 63
Views: 8275

Re: [POLL] What is your personal saving rate?

Based on 2016 tax and personal records, I show an individual gross pre-tax equivalent savings rate of 41% of income contributed to retirement accounts, from gross earnings less than $35,000. For 2017, we hope for a joint gross savings rate of 34%. $11k to Roth IRAs and $6k to 403b, for a pre-tax tot...
by Rainmaker41
Wed May 03, 2017 8:16 am
Forum: Investing - Theory, News & General
Topic: Who Contributes to IRA's?
Replies: 8
Views: 1259

Re: Who Contributes to IRA's?

They left out low to middle-income dual earner households, who happen to be frugal, and thus contribute to IRAs first in preference to a higher-fee 401k/403b work plan. 8-)

Where are we in those statistics? Ha.
by Rainmaker41
Tue May 02, 2017 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Using Roth IRA as a savings account?
Replies: 32
Views: 3317

Re: Using Roth IRA as a savings account?

Thanks Rainmaker, This pretty much sums up how I see it as well. Which fund are you using in the Roth for the cash savings you are transferring over? If at the start of April 2018 we haven't filled up our 2017 Roth IRA space, I guess we'd just use the plain cash settlement fund. We wouldn't make an...
by Rainmaker41
Tue May 02, 2017 4:31 pm
Forum: Personal Consumer Issues
Topic: Buying a diamond ring
Replies: 57
Views: 3811

Re: Buying a diamond ring

I bought my now-fiancee's engagement ring at:

http://www.bluenile.com

The value stated on the documentation in the package, presumably for insurance purposes, was non-trivially in excess of the price I paid. That is to say, stores markup the price for a given piece of given quality.
by Rainmaker41
Wed Apr 26, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Using Roth IRA as a savings account?
Replies: 32
Views: 3317

Re: Using Roth IRA as a savings account?

In the event we have a shortfall in maxing out our Roth IRA contribution space for 2017, we would just transfer cash savings into the Roth IRAs by April 2018. As future income allows, the cash inside Roth IRAs would be invested, and the corresponding bank account account cash reserve deficit filled ...
by Rainmaker41
Sat Apr 22, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank - Savings Account Rate Increased!
Replies: 84
Views: 12108

Re: Ally Bank - Savings Account Rate Increased!

The annualized dividend from total stock market VTSAX is generally greater than 1.05% and is taxed more favorably. Boo to savings accounts! Yes yes yes... but some of us like cash reserves and don't have taxable investments. I don't mind the minor inefficiency when it'd be a hassle to keep cash in ...
by Rainmaker41
Sat Apr 22, 2017 9:14 am
Forum: Investing - Theory, News & General
Topic: Single most important investing advice?
Replies: 97
Views: 12517

Re: Single most important investing advice?

"Hurdle Number One: Even if you can invest like Warren Buffet, if you can't save, you'll die poor."

https://www.etf.com/docs/IfYouCan.pdf
by Rainmaker41
Sat Apr 22, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank - Savings Account Rate Increased!
Replies: 84
Views: 12108

Re: Ally Bank - Savings Account Rate Increased!

It's about time... I've been enjoying the 1.30% no minimum 12 month CD. This is nice, too Haha yes. I grabbed the 1.25% 11 month no penalty CD last November or December, but then closed it this March to fund the $10k minimum Capital One MMA to get the $200 bonus. Now the cash in question is sitting...
by Rainmaker41
Sat Apr 22, 2017 9:07 am
Forum: Investing - Theory, News & General
Topic: Social Security for Millennials
Replies: 159
Views: 18248

Re: Social Security for Millennials

If social security remains solvent and provides as promised, apparently we do not need to save for retirement. ^ I nominate this for Boglehead Quote of the Year. Yes, there are people with low enough expenses that they could live on Social Security alone. Especially in the Midwest. Knpstr is in Mic...
by Rainmaker41
Mon Apr 17, 2017 7:50 pm
Forum: Investing - Help with Personal Investments
Topic: 403b election withheld, but not all contributed to plan
Replies: 4
Views: 530

Re: 403b election withheld, but not all contributed to plan

I called Principal this evening, and learned that Principal had received the (incorrect, lower) amounts for my account, suggesting the issue is with HR's reporting and/or payments to Principal. I suspect what may have happened is that HR froze the values used in the reporting/payments to Principal d...
by Rainmaker41
Mon Apr 17, 2017 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: How to migrate to better retirement plan?
Replies: 8
Views: 1132

Re: How to migrate to better retirement plan?

Welcome. You have definitely come to the right place. You do not need an AUM 'Advisor'/wealth manager under any circumstances whatsoever. It could easily be prudent to consult an hourly-fee only tax accountant and/or hourly-fee only CFP for order of withdrawal ideas, but it is probably best to get a...
by Rainmaker41
Mon Apr 17, 2017 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: 403b election withheld, but not all contributed to plan
Replies: 4
Views: 530

Re: 403b election withheld, but not all contributed to plan

The 403b is with Principal. It is remotely possible there is a sudden new 34% load fee... haha... although there was never any discrepancy at all in the past, from end-May 2016 through mid-Feb 2017. I'm near certain it was a system bug due to payroll changes. I said as much, but mentioned that it mi...
by Rainmaker41
Mon Apr 17, 2017 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: 403b election withheld, but not all contributed to plan
Replies: 4
Views: 530

403b election withheld, but not all contributed to plan

I recently noticed a discrepancy between my 403b withholding shown on my paystubs (and reflected in net pay received by direct deposit) and the actual amounts contributed to the plan from the end of February to the end of March (3 payrolls, although it might still be the case for the mid-April one)....
by Rainmaker41
Mon Apr 17, 2017 9:03 am
Forum: Personal Finance (Not Investing)
Topic: is it too late for backdoor roth?
Replies: 7
Views: 645

Re: is it too late for backdoor roth?

If you are very very fast, you can get the 2016 traditional IRA contribution in by the 18th. Then, convert it to Roth at your discretion and leisure.
by Rainmaker41
Sun Apr 16, 2017 9:46 am
Forum: Personal Finance (Not Investing)
Topic: New law will ban NYC employers from asking about salary history
Replies: 15
Views: 1965

Re: New law will ban NYC employers from asking about salary history

It's a free market. The value of a prospective hire to a company is not what they were paid before; it is the value of what they will do for the new company. In any other market, the best thing goes to the highest bidder. Workers bid salaries to employers, and employers bid salaries to workers, such...