Search found 18 matches

by SUP3RMAN 131
Thu Nov 09, 2017 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: How old are you and how much do you save for retirement a year
Replies: 151
Views: 12763

Re: How old are you and how much do you save for retirement a year

26 years old and for 2017 I'll save for retirement:

401(k) - $12,057
401(k) ER Match - $2,585
ROTH IRA - $5,500

Total - $20,142 or 33.7% of gross income.

*Going forward I plan to max my 401(k) and IRA each year which will be just under a 40% savings rate.
by SUP3RMAN 131
Thu Nov 09, 2017 1:22 pm
Forum: Personal Consumer Issues
Topic: Best Approach for Purchasing Many Furnishings
Replies: 27
Views: 1694

Best Approach for Purchasing Many Furnishings

I'm in the process of looking for my first apartment away from the parents. I think I have a good grasp of the price range (14.3% - 18.6%) of gross income would be allocated to the rent. Obviously utilities and the such would increase the percentage slightly. My new issue is the fact that I own very...
by SUP3RMAN 131
Thu Oct 05, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Capital Gains - 0%
Replies: 6
Views: 719

Re: Long Term Capital Gains - 0%

You are essentially correct but lets try to avoid confusion with income tax terms. My mistake. I'll edit my original post so to remove any confusion. Thank you. Since long term gain is taxed at 10% the maximum tax savings (if all of the gain is long term) will be $246, not $370. Can you explain thi...
by SUP3RMAN 131
Thu Oct 05, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Capital Gains - 0%
Replies: 6
Views: 719

Long Term Capital Gains - 0%

I'd like to run the following scenario to see if I'm understanding correctly for my position. I had purchased individual stocks when I was 18-23 and have held them ever since (last purchase was 2015). They are setup to have dividends reinvested and there have been some spinoffs where I've acquired s...
by SUP3RMAN 131
Thu Aug 17, 2017 9:03 pm
Forum: Investing - Help with Personal Investments
Topic: Temporary Bump on 401k Smart?
Replies: 4
Views: 472

Re: Temporary Bump on 401k Smart?

You already have an emergency fund. Have you considered whether it is big enough in view of the increased level of expenses it may have to cover once you start living on your own? If not, that could be a good use for the extra cash flow in the next two months. Also will you need to buy things like ...
by SUP3RMAN 131
Thu Aug 17, 2017 7:52 pm
Forum: Investing - Help with Personal Investments
Topic: Temporary Bump on 401k Smart?
Replies: 4
Views: 472

Temporary Bump on 401k Smart?

I've received a promotion at work which has come with a decent raise (25%). I'm also currently living at my parents with a move out timeframe of 2 months or less. So my question is does it make sense to bump my 401k contribution significantly and reduce it back down once I move out (and start incurr...
by SUP3RMAN 131
Thu Apr 20, 2017 6:14 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Funds Selection Assistance (Updated)
Replies: 5
Views: 574

Re: IRA Funds Selection Assistance

I've finally gotten around to signing up for an IRA and have funded it with $5,500 (2016 contribution). Before now, my only retirement funds were from a company 401k. I'm feeling slightly overwhelmed with the options that are available. Background: Age: 25 Emergency funds: $25,000 in 3% AFCU 7 year...
by SUP3RMAN 131
Wed Apr 19, 2017 12:55 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Funds Selection Assistance (Updated)
Replies: 5
Views: 574

Re: IRA Funds Selection Assistance

If you have the money, you could make your 2017 IRA contribution now so that you'll have more money to work with as far as reaching your desired asset allocation. With $11k, you could easily invest your IRA in 3 funds of your choosing. I'd have a hard time parting with an additional $5,500 right no...
by SUP3RMAN 131
Tue Apr 18, 2017 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Funds Selection Assistance (Updated)
Replies: 5
Views: 574

IRA Funds Selection Assistance (Updated)

***Updated Question: I have decided to go with VFFUX (Vanguard Target Retirement Date 2055). I placed my buy at 4:35PM on 4/19/2017 and the trade still has not been executed. Is that normal with mutual funds and with Vanguard? Sucks that I missed a .72% up day.*** I've finally gotten around to sign...
by SUP3RMAN 131
Thu Mar 30, 2017 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Selecting a Broker
Replies: 5
Views: 454

Selecting a Broker

Hello, I've received some great help in the past and look forward to the responses to my new question. I've taken the advice of the forum and switched over my 401(k) from a Roth to a traditional (Currently right on the line for 15%/25%). I'm now looking to place $5,500 into a Roth IRA prior to April...
by SUP3RMAN 131
Mon Jan 30, 2017 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Deferred or After Tax Retirement Question
Replies: 14
Views: 1750

Re: Tax Deferred or After Tax Retirement Question

I doubt you're in the 25% bracket. It starts at $37,950 taxable income, which is about $48,350 AGI, which is probably over $50,000 gross income if you have any pre-tax health, dental, or disability insurance premiums or FSA/HSA contributions withheld from your pay. When you're comparing Roth and tr...
by SUP3RMAN 131
Thu Jan 26, 2017 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Deferred or After Tax Retirement Question
Replies: 14
Views: 1750

Re: Tax Deferred or After Tax Retirement Question

You can withdraw your contribution to Roth IRA any time. So, that is not a valid reason. In fact, some folks use the Roth IRA to park their emergency fund. You only get $5,500 of Roth IRA space every year. Use it or lose it. It is still not too late for you to use the 2016 Roth IRA space, m +1 want...
by SUP3RMAN 131
Wed Jan 25, 2017 7:20 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Deferred or After Tax Retirement Question
Replies: 14
Views: 1750

Re: Tax Deferred or After Tax Retirement Question

You can withdraw your contribution to Roth IRA any time. So, that is not a valid reason. In fact, some folks use the Roth IRA to park their emergency fund. You only get $5,500 of Roth IRA space every year. Use it or lose it. It is still not too late for you to use the 2016 Roth IRA space, m In the ...
by SUP3RMAN 131
Wed Jan 25, 2017 5:46 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Deferred or After Tax Retirement Question
Replies: 14
Views: 1750

Re: Tax Deferred or After Tax Retirement Question

- I would change your Roth 401k to a traditional 401k. - I would set my deferral election to to 20% into my traditional 401k (plus the additional 5% match means you're saving a quarter of your income). - I would sell the individual stocks in your taxable account. If you are putting 20% into a tradi...
by SUP3RMAN 131
Wed Jan 25, 2017 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Deferred or After Tax Retirement Question
Replies: 14
Views: 1750

Tax Deferred or After Tax Retirement Question

Hello, I'm looking to get some advice as I start to fund my retirement. Emergency funds: $30,000 @ 1% Ally account Debt: $5,500 car loan @ 1.989% Tax Filing Status: Single Tax Rate: 25% Federal, 4.25% State State of Residence: MI Age: 25 Desired Asset allocation: 80% stocks / 20% bonds Desired Inter...
by SUP3RMAN 131
Tue Jul 19, 2016 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Used Vehicle (cash or loan)
Replies: 4
Views: 629

Buying Used Vehicle (cash or loan)

Good Afternoon, I'm in the market for a new vehicle and it has me wondering which payment method is best for my situation. I have been advised that it would be a smart decision to get a car loan for building credit. Currently I only have 2 credit cards that get paid off in full each month. I have no...
by SUP3RMAN 131
Tue Mar 31, 2015 8:30 am
Forum: Investing - Help with Personal Investments
Topic: 22 years old - 401k Questions
Replies: 8
Views: 1386

Re: 22 years old - 401k Questions

Thanks for the info. I didn't know that the funds had a minimum amount before I could invest into it. Seems like Roth is the way to go, which I assumed but didn't know if it would be better to have a traditional 401k along with a Roth IRA. I now plan on doing a Roth IRA and 401k. I do plan on moving...
by SUP3RMAN 131
Mon Mar 30, 2015 8:35 pm
Forum: Investing - Help with Personal Investments
Topic: 22 years old - 401k Questions
Replies: 8
Views: 1386

22 years old - 401k Questions

Hello all, Emergency funds: None Debt: None Tax Filing Status: Single Taxes: 11.2% Federal, 1.5% Medicare, 6.2% social security, 4.3% state State of Residence: Michigan Age: 22 Desired Asset allocation: 80% stocks / 20% bonds Additional Information: I have just become eligible for my companies 401k ...