Search found 79 matches

by Superorb
Fri May 26, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

Most Bogleheads like simplicity. I have a pretty high % in Cash earning 1.25% in a No Penalty CD with Ally. What I have left over I have in their Savings earning 1.05%. When the CD is up later this year, if there is not a similar CD offering at Ally I will just move it over into Savings and leave i...
by Superorb
Fri May 26, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

The firms that require all that hassle are banking on customers forgetting to do the required transfers to be able to earn the higher interest, otherwise they simply do not pay it. This all certainly sounds like a scheme and a hassle to me. For those who wish to be part of all that, go right ahead,...
by Superorb
Fri May 26, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

As suspected it's some sort of prepaid scheme and requires a lot of hassle. CDs are in fact liquid, it's a myth that they're not, you just pay a penalty If you withdraw early, but often times if you have to withdraw early, which is going to be rare, even paying the penalty you still earn more than ...
by Superorb
Thu May 25, 2017 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

Where pray-tell are you getting 5%? If you are, I doubt it's as safe as a CD, so would not be an apples to apples comparison. Yes, a CD ladder is still smart, for money you want to be safe. It's a prepaid card that has a 5% savings account, and it's FDIC insured. There are TONS of 1.5%+ accounts ou...
by Superorb
Thu May 25, 2017 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

People still do CDs? I thought those fell out of favor a long time ago, plus you can pretty easily get 2% out of checking accounts these days. I'm getting 5% per $5,000 account and I've got 3 of them. I'd have 20 if they'd let me.
by Superorb
Thu May 25, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

Be that as it may, not everyone can qualify for an account with Alliant since they are a credit union, not a bank. Only employees of certain companies or organizations qualify, or their family members. Although I understand you can donate to their recommendation associated charity to become a membe...
by Superorb
Thu May 25, 2017 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

I spoke to Ally today since I was not seeing 1 day transfer as an option for one of my external bank accounts, but was seeing for another. They informed me that in order to qualify for 1 day transfers, you must have transferred at least $200 every 60 days and their system only checks this every 3 m...
by Superorb
Wed May 17, 2017 3:25 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

Ok, so looking at the plan docs Etrade's Solo 401k does allow for in-plan rollovers to Roth if you elect to do so. And according to the agent I spoke to this is allowed. They said I'd also have to open a Solo Roth 401k at the same time as the Solo 401k. They have forms for in plan roth rollovers if ...
by Superorb
Wed May 17, 2017 2:58 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

Check out Max Fientist: http://www.madfientist.com/how-to-access-retirement-funds-early/ Thanks, I'll give this a read. Strictly speaking the term you are looking for in the plan description is "in-service distribution", i.e. you are allowed take a distribution prior to separating from se...
by Superorb
Wed May 17, 2017 11:37 am
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

Thanks Celia, but my questions are more about which accounts I can use to do this in the future. We're in the 15% bracket (and probably always will be or lower) so all QDs are tax free. I was more curious about how the conversion of pre-tax dollars to Roth worked in reality and how it relates to hav...
by Superorb
Tue May 16, 2017 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

You also need to be aware that some one-participant 401k plans do not allow any in-service rollovers prior to age 59 1/2. With these plans you would need to terminate the 401k, roll over the pre-tax assets to a traditional IRA and do your Roth IRA ladder from there. Another option might be to amend...
by Superorb
Tue May 16, 2017 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

If you Google "Roth Conversion Ladder", you'll find quite a few useful posts. Here's a good one to start with. http://rootofgood.com/roth-ira-conversion-ladder-early-retirement/ I think this is what I'm looking for. Does it explain how my Solo 401k would fit into the equation? Would I con...
by Superorb
Tue May 16, 2017 6:35 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

Any conversion/rollover of pre-tax dollars going into a Roth will be taxed as ordinary income in the year of the conversion. The only "out" is to earn so little that your marginal rate is zero. Yes, I plan to be in a very low brackewt due to qualified dividends and deductions/exemptions i...
by Superorb
Tue May 16, 2017 6:33 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

Re: How to get funds in and then out of a Roth tax free after 5 years?

It's not clear what you have or what you want to do. Why do you want to withdraw in five years? If you have self-employed income, then just put it in a Roth 401(k). You can and should invest in a Roth IRA. Possibly the author was in the situation where he was employed and benefited from a tax deduc...
by Superorb
Tue May 16, 2017 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: How to get funds in and then out of a Roth tax free after 5 years?
Replies: 15
Views: 1317

How to get funds in and then out of a Roth tax free after 5 years?

Hey guys. I'm going to be opening a Solo 401k soon, but first I'd like to understand how Roth tax free conversions work, because it may alter which firm I go with for the Solo 401k account. I was reading the Go Curry Cracker blog about how the author converts X amount of funds tax free into a Roth a...
by Superorb
Sun May 07, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Ally 1 Day Transfer
Replies: 39
Views: 5241

Re: Ally 1 Day Transfer

Alliant has 1-day transfers that are submitted before noon CST, and they are enabled from day one.
by Superorb
Wed Apr 26, 2017 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Spirit Rider wrote:Fidelity


Thanks as always.
by Superorb
Wed Apr 26, 2017 1:32 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Thanks Spirit. Which bank/broker are you referring to?
by Superorb
Wed Apr 26, 2017 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Sorry, I don't have an individual 401(k) at Fidelity, so I cannot answer those questions for Fidelity. It should be easy for them to have a selection dropdown for tax year as well as employee(er) contribution. But if they actually do that is another story. Can you hunt around your account and look ...
by Superorb
Wed Apr 26, 2017 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

I think you may find this very helpful: https://thefinancebuff.com/solo-401k-provider-service-scope.html and http://whitecoatinvestor.com/where-to-open-your-solo-401k/ Picked Fidelity myself. Thanks. Can you answer these questions for Fidelity please? 1) Are there any account minimum balance requir...
by Superorb
Wed Apr 26, 2017 11:58 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

For the 401(k), I don't know. I am sure they will accept a mailed check with a Letter of Instruction. I think an issue might be making sure whether a contribution is employee deferral or employer contribution which can be addressed with a LoI or writing a note on the physical check. I don't know ho...
by Superorb
Wed Apr 26, 2017 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

I use TDAmeritrade. 1. No. 2. No. 3. No. 4. Yes. I file 5500EZ (or is it 5500SF) myself. 5. My individual 401(k) has both a traditional and a Roth account. 6. Yes. I rolled over a previous employer 401(k) into my TDAmeritrade individual 401(k). 7. So far, I just drop a check off at the local TDAmer...
by Superorb
Wed Apr 26, 2017 11:36 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

I've made these questions for a Solo 401k now. Does Etrade check all these boxes? I'm not entirely sure what a designated Roth account is though. A Roth designated account, is just that. Traditional 401k employee deferrals and all employer contributions go to a pre-tax traditional 401k account. Rot...
by Superorb
Wed Apr 26, 2017 10:44 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Etrade. Easy application process, great customer service, loan feature, Roth, allows incoming rollovers, easy money transfer, trusted platform, good mobile app. Have had a solo w them for 3 years now. I've made these questions for a Solo 401k now. Does Etrade check all these boxes? I'm not entirely...
by Superorb
Tue Apr 25, 2017 9:12 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

If you retire, you can terminate your solo 401k at any firm and rollover to a Rollover IRA. Once the assets are in rollover IRA, you can convert any amount you wish to Roth IRA. Repeat your Roth conversions every year if you wish to take advantage of the 0% tax rate offered by deductions and exempt...
by Superorb
Tue Apr 25, 2017 9:08 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Ok, Vanguard is out since no incoming rollovers and no ability to buy stocks.
by Superorb
Tue Apr 25, 2017 12:00 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

There is no minimum with a Vanguard i401k. This is a good post on where to open i401ks - Where To Open Your Solo 401K . Thanks for the link. I will change the minimum Vanguard, but the bigger points on Vanguard are no rollovers and no Admiral Shares. If Vanguard does not allow incoming rollovers th...
by Superorb
Mon Apr 24, 2017 11:50 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

It should be possible to convert to Roth funds and then withdraw tax free provided you have enough exemptions and deductions to convert tax free once retired. I just don't know which accounts would allow this or even what that would be called.
by Superorb
Mon Apr 24, 2017 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Thanks so much Spirit! So the ones that say "no Roth" I wouldn't be able to convert 401k funds to Roth funds on a yearly basis (ladder)?
by Superorb
Mon Apr 24, 2017 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Can you buy regular stocks with a Vanguard account? For one of our Fidelity Solo 401k accounts, we bought the commission-free ETFs (iShares) before realizing their mutual funds have a minimum of $500 instead of the usual $2500 when purchased in the Solo 401k. If the stock isn't on the commission-fr...
by Superorb
Mon Apr 24, 2017 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Here's the wiki page about Solo 401k: https://www.bogleheads.org/wiki/Solo_401(k)_plan Main features to consider when choosing: ⋅ investment options? ⋅ contribution method? ⋅ rollovers? ⋅ Roth? ⋅ loans? We use Fidelity as most of our accounts are th...
by Superorb
Mon Apr 24, 2017 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

Can you buy regular stocks with a Vanguard account? I have $50k of dividend paying stocks in a taxable brokerage account that I don't pay taxes on since I'm in the 15% bracket and dividends are less than $2k/year right now. I don't expect to be above the 15% bracket MFJ pretty much ever, but I'd lik...
by Superorb
Mon Apr 24, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

I use Vanguard for our Solo 401k and agree that it's easy and intuitive. My biggest annoyance is the lack of digital option to remove the fee-per-fund charge. Assuming you're putting a decent amount of money into it then $20/year isn't a big deal but it is more of a nuisance that I can't get around...
by Superorb
Mon Apr 24, 2017 12:39 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Re: Solo 401k recommendations?

I am in the process of applying for a solo 401k at Vanguard. You do have to fill out paperwork but it took less than an hour (for both the employer and employee sides as well as reading through the downloadable material). I plan to use Vanguard just because I have everything else there. They charge...
by Superorb
Mon Apr 24, 2017 12:04 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1822

Solo 401k recommendations?

Now that I've got my SEP for 2016 done I'd like to look into opening a Solo 401k for 2017 so I can contribute much more than the SEP to lower my tax burden going forward. I currently have a Schwab checking account that I use and also a taxable brokerage account from them that I don't use. I looked i...
by Superorb
Thu Apr 20, 2017 5:12 pm
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

The guy I talked to was just a tech guy for the website, so I have no idea what will happen come next week when the transfer posts to my SEP or what the IRS will think. I don't know where to go from here so I wait. I appreciate the help, and I understand everything found online is not from a lawyer,...
by Superorb
Thu Apr 20, 2017 3:16 pm
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

So I called and they allowed me to make a contribution for prior year as an employer, but it won't post till probably Tuesday. I wonder if there's any way to backdate that transfer. I'll have to ask them again once it posts I suppose.
by Superorb
Thu Apr 20, 2017 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

From the IRS SEP Plan FAQ: If the SEP-IRA permits non-SEP contributions, you can make regular IRA contributions (including IRA catch-up contributions if you are age 50 and older) to your SEP-IRA, up to the maximum annual limit. However, the amount of the regular IRA contribution that you can deduct...
by Superorb
Thu Apr 20, 2017 2:35 pm
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Did you have a true Sep IRA account? If so, there are no employee contributions to a SEP IRA. By default, contributions to a SEP IRA are employer contributions. A custodian can allow traditional IRA contributions to a SEP IRA, but they must be made by specific designation. If you attempted to make ...
by Superorb
Thu Apr 20, 2017 11:45 am
Forum: Investing - Help with Personal Investments
Topic: TaxAct not calculating capital gain harvesting properly?
Replies: 28
Views: 1748

Re: TaxAct not calculating capital gain harvesting properly?

You just need to avoid short term gains. Where did the short term gains come from? I thought Betterment just harvested losses, not gains, but I have no direct experience. I have no idea. I'll have to go through and try to see which sale was ST. I always check buy date to make sure it's more than a ...
by Superorb
Thu Apr 20, 2017 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

If you submitted the contribution ahead of the deadline and there was a problem, there should be a way to allow the contribution after the error is corrected. It sounds like the error was on Merrill's end. Yes, Monday. They're claiming that the website I used was only for employee contributions, an...
by Superorb
Thu Apr 20, 2017 11:16 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Ok. I'm self employed, so I should be able to contribute as both. Shouldn't Merrill have been able to distinguish between the two? Yes, as long as you code the SEP-IRA contribution as an employer contribution. If it is mistakenly coded as an employee contribution then that would be a normal Traditi...
by Superorb
Thu Apr 20, 2017 10:51 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Ok. I'm self employed, so I should be able to contribute as both. Shouldn't Merrill have been able to distinguish between the two?
by Superorb
Thu Apr 20, 2017 10:28 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Yeah I thought they were allowed. I did $5,500 for 2016 and then the max $4,500) allowed for my SEP for 2016 and Merrill canceled the transfer telling me you can't contribute more than $5,500/year even if it's to a SEP. Our AGI was low, around $50k.
by Superorb
Thu Apr 20, 2017 10:19 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 682

Contribute to SEP IRA and traditional IRA in same tax year?

Can I contribute the max ($5,500) to my traditional IRA and then also contribute the max (whatever it calculates to) to my SEP IRA for the same 2017 tax year?
by Superorb
Thu Apr 20, 2017 10:00 am
Forum: Investing - Help with Personal Investments
Topic: TaxAct not calculating capital gain harvesting properly?
Replies: 28
Views: 1748

Re: TaxAct not calculating capital gain harvesting properly?

Yup, you are exactly right. So for 2017 how can I make sure that I don't run into this again and I can harvest gains? The loss/gain was from LendingClub or Betterment, and I can't control and of those robo trades. I've since closed my Betterment account and have been winding down my LendingClub acco...
by Superorb
Wed Apr 19, 2017 9:03 pm
Forum: Forum Issues and Administration
Topic: Notifications not working correctly
Replies: 12
Views: 1018

Re: Notifications not working correctly

There is no way to disable notifications, and even posts that have been deleted will still show the notification. Once it's triggered it will persist.
by Superorb
Wed Apr 19, 2017 5:27 pm
Forum: Investing - Help with Personal Investments
Topic: TaxAct not calculating capital gain harvesting properly?
Replies: 28
Views: 1748

Re: TaxAct not calculating capital gain harvesting properly?

I've given up. Next year I'll do a simple return to see if they calculate LTCGs correctly.

Thanks everyone.
by Superorb
Wed Apr 19, 2017 5:01 pm
Forum: Investing - Help with Personal Investments
Topic: SEP transfer for 2016 failed, now what?
Replies: 6
Views: 444

Re: SEP transfer for 2016 failed, now what?

I was not suggesting you could file an extension now. I was just making you aware that if you had filed an extension you could make the contribution even if you filed on time. Gotcha. Next time I cut it close I'll file an extension anyways so I don't have to deal with this mess again. Still haven't...
by Superorb
Wed Apr 19, 2017 4:18 pm
Forum: Investing - Help with Personal Investments
Topic: SEP transfer for 2016 failed, now what?
Replies: 6
Views: 444

Re: SEP transfer for 2016 failed, now what?

Good question for your investment firm. Self employed 401K MUST be opened during the tax year for which any contributions are made, so this would not be possible with a SE 401K. It has been a long time since I used a SEP IRA, so I don't know whether what you are attempting is possible. SEP can be o...

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