Search found 1973 matches

by am
Sat Apr 30, 2016 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 455

Re: Solo 401k question

She opened the s Corp years ago when at one when point she was making 6 figures. It is hard for me to believe that an accountant can give such incorrect information? Aren't there standards? Basically, when my accountant does my wife's quarterly taxes, out of the 5k that she made, a certain amount wi...
by am
Sat Apr 30, 2016 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 455

Re: Solo 401k question

Thanks for the reply. Seems like our accountant is not knowledgeable about solo 401ks. We tell the accountant how much she made every quarter and we then write checks for fed and state taxes and a check for her salary per his instructions. Would we tell him that we want to contribute say 500 dollars...
by am
Sat Apr 30, 2016 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 455

Solo 401k question

Wife has a S Corp with about 5k in profits this 1st quarter. Payroll will be a couple of thousand for her. According to accountant, we can place 5k into the solo 401k we opened. The business will probably make about 20k or so this year. If I max her 401k for the year at about 18k, I will be using po...
by am
Fri Apr 29, 2016 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4570

Re: Physician Specialists Looking for career advice

No question that comfortable house and car are preferred to McMansion and luxury car. I have colleagues who are struggling on specialist MD salaries and are stuck in jobs because of poor housing choices. With the huge changes in medicine, it is comforting to know that I can surivive on much less tha...
by am
Fri Apr 29, 2016 9:36 am
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

good place for a child's savings account, perhaps. If you max the cards out you can do 3 netspends, 2 brinks, 1 mango, 1 insight visa per SS for a total of 70k for husband and wife at about 5%. Wonder how many people would take 5% guaranteed returns over what the stock market will return over the n...
by am
Fri Apr 29, 2016 9:19 am
Forum: Personal Finance (Not Investing)
Topic: SS tax question on paycheck
Replies: 8
Views: 349

Re: SS tax question on paycheck

On a similar note, the 118500 max- is that reached when gross earnings or fed taxable gross=118500?
by am
Fri Apr 29, 2016 9:01 am
Forum: Personal Finance (Not Investing)
Topic: SS tax question on paycheck
Replies: 8
Views: 349

Re: SS tax question on paycheck

So if my check is is 5k I will have a direct deposit of 5680 after the max tax is payed?
by am
Fri Apr 29, 2016 8:53 am
Forum: Personal Finance (Not Investing)
Topic: SS tax question on paycheck
Replies: 8
Views: 349

SS tax question on paycheck

Say you've been paying 680 dollars every 2 weeks for SS tax and will shortly reach the max for the year of 118,500 in salary. Does the 680 dollars that you no longer pay for SS tax get taxed or is it simply added to the next check? Thanks.
by am
Wed Apr 27, 2016 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: VWO vs VSS [Vanguard Emerging Markets Stock vs. FTSE All-World ex-US Small-Cap]
Replies: 15
Views: 888

Re: VWO vs VSS

No, not worth it. Use vxus (total international) and call it a day. Keep things simple.
by am
Wed Apr 27, 2016 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Is changing career paths to make less money ever a smart move?
Replies: 26
Views: 2096

Re: Is changing career paths to make less money ever a smart move?

I would stay, throw as much as you can into retirement funds. If you have a half million in your early-to-mid 40s, you will have secured your retirement. Thats good to know. Wife and I are only 33/32 and we have over that amount in retirement. Guess we're set. It depends on your expenses. You may n...
by am
Sat Apr 23, 2016 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4570

Re: Physician Specialists Looking for career advice

Amen. Many physicians, especially us hospital based docs become impotent expendable workers when we are employed. We have no patients and are film readers, anesthesia administrators, slide readers or ER clinicians to them. Who cares about working conditions, happiness, any control over practice or ...
by am
Sat Apr 23, 2016 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4570

Re: Physician Specialists Looking for career advice

It depends on your specialty. If you generate large downstream revenue for others, then employment with hospital or multi specialty group can make you valuable and well compensated. Not so. As you can imagine a group or hospital could make EVEN more if you do the same work with less pay. The delta ...
by am
Fri Apr 22, 2016 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Specialists Looking for career advice
Replies: 42
Views: 4570

Re: Physician Specialists Looking for career advice

Avoid hospital employment. You will feel like a postal worker. No control over anything around you. Dead end. On the other hand, if you join a private group, your time may be limited given alarming trends...
by am
Sat Apr 16, 2016 8:04 pm
Forum: Investing - Theory, News & General
Topic: The Problem with Raw Returns in a Backtest
Replies: 19
Views: 1988

Re: The Problem with Raw Returns in a Backtest

That's why I do the 3 funder. I know that there are many factors such as small value which will likely lead to higher returns over my lifetime, but I don't think I can stick to the plan as well.
by am
Sat Apr 16, 2016 5:03 pm
Forum: Investing - Help with Personal Investments
Topic: What expected % return should a longterm investor use?
Replies: 50
Views: 4614

Re: What expected % return should a longterm investor use?

If you hold for the long run (from start of work 20s to death 80s+) than you should expect about 7% real on total stock index. But if you check in between than no one knows :D
by am
Sat Apr 16, 2016 2:45 pm
Forum: Investing - Help with Personal Investments
Topic: Investment for fidelity HSA account
Replies: 1
Views: 193

Investment for fidelity HSA account

I have about 10k (growing every pay check) in a Fidelity HSA earning essentially nothing. I was think of placing about 8k or so in a short term treasury bond fund there. If I need more than 2k I would cash out the short term bind fund. Does this seem reasonable? I don't want to take much risk with t...
by am
Fri Apr 15, 2016 9:34 pm
Forum: Personal Consumer Issues
Topic: Sport players Cards (Football, Baseball, Basketball), anyone collect?
Replies: 52
Views: 3520

Re: Sport players Cards (Football, Baseball, Basketball), anyone collect?

Wax boxes are still worth money before 86 or so.
by am
Wed Apr 13, 2016 9:16 pm
Forum: Personal Consumer Issues
Topic: Sport players Cards (Football, Baseball, Basketball), anyone collect?
Replies: 52
Views: 3520

Re: Sport players Cards (Football, Baseball, Basketball), anyone collect?

I was an avid collector of baseball cards during the 80s. Nothing left from that era as I sold high in the late 80s :happy . However, 5 years ago I bought unopened wax boxes from 80-85 on eBay. Cost me about 500 bucks for about 8 boxes including one of the most desirable 1984 Donruss. I hope they we...
by am
Sat Apr 09, 2016 3:07 pm
Forum: Investing - Theory, News & General
Topic: [Elusive] Fidelity study identifies the most successful investors!
Replies: 37
Views: 6363

Re: Fidelity study identifies the most successful investors!

How long can an account for a deceased person exist before the fund company starts to notice and take action?
by am
Sat Apr 09, 2016 9:16 am
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

It's not clear whether there is any fraud protection with these prepaid cards. Netspend says they will "help" you, but I can't find anything that says you are protected. Is this typical for other accounts like brokerage, bank, etc? I remember that you have to maintain a long list of to do...
by am
Fri Apr 08, 2016 10:46 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

It's not clear whether there is any fraud protection with these prepaid cards. Netspend says they will "help" you, but I can't find anything that says you are protected. Is this typical for other accounts like brokerage, bank, etc? I remember that you have to maintain a long list of to do...
by am
Fri Apr 08, 2016 10:45 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

It's not clear whether there is any fraud protection with these prepaid cards. Netspend says they will "help" you, but I can't find anything that says you are protected. Is this typical for other accounts like brokerage, bank, etc? I remember that you have to maintain a long list of to do...
by am
Fri Apr 08, 2016 4:43 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

I've
ND Fan 1 wrote:I think the other difference between the Brinks and Netspend is that Brinks requires an actual Direct Deposit of a paycheck, or gov't benefits. Netspend, you can just ACH the money in to the checking account, then transfer to the Savings.


I have had no problem doing ach into brinks.
by am
Fri Apr 08, 2016 3:33 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

Every time you share data with a new financial services provider there is a potential downside through mishandling/negligence/incompetence of that data handling. I try to open as few new accounts as possible. This is an excellent point! :beerCheers, packet I agree. But as with anything, I weight th...
by am
Thu Apr 07, 2016 3:23 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

Only fee for savings account holder is inactivity. Easily avoided by setting up an automatic transfer of 1-2 dollars every few months. Done! Now why am I making this sound so easy!? :) Guess I love this forum and want to help those who helped me. As far as how 5%, I think the the majority of users a...
by am
Wed Apr 06, 2016 8:20 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

"I count 3 netspends, 2 brinks, 1 mango per social security # for a total of 60k for a married couple. Correct me if there is something else?" There is another prepaid debit card company with a savings account at 5.00% APY. Insight Visa® Prepaid Debit Card is issued by Republic Bank of Ch...
by am
Wed Apr 06, 2016 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Self employed 401k and contributions question
Replies: 6
Views: 267

Re: Self employed 401k and contributions question

So I found a fidelity solo 401k calculator. Turns out W2 income is used for corporations and net profit for sole proprietorships. So if an s Corp owner makes 13k from w2, is the contributions allowed 13k or is a profit sharing component still allowed on top of that?
by am
Wed Apr 06, 2016 4:59 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

thanks for the replies everyone and thanks for letting me know that there are actually SEVEN of these accounts i can sign up for for me and my wife, total 70k in all. FDIC 5% return is pretty spectacular. Obviously will have to check in on them periodically to make sure they are still paying 5%. Bu...
by am
Wed Apr 06, 2016 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Self employed 401k and contributions question
Replies: 6
Views: 267

Re: Self employed 401k and contributions question

Thanks for the calculator. For an S Corp, is net income what the quarterly payroll would be on w2 or total income for the quarter minus expenses? Also, I assume the profit sharing gets added to the 401k employee contribution? Do the 401k contributions need to be coordinated with payroll?
by am
Wed Apr 06, 2016 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Self employed 401k and contributions question
Replies: 6
Views: 267

Self employed 401k and contributions question

My spouse has a solo 401K. She will be doing her 1st quarter payroll shortly. She made about 5k for the 1st quarter. How much can I put in the 401k for the 1st quarter? Is it 100% of compensation for the employee deferral + additional % for the employer profit sharing? At tax time, will our AGI be r...
by am
Wed Apr 06, 2016 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for minors from Fidelityquestion
Replies: 4
Views: 238

Roth IRA for minors from Fidelityquestion

Fidelity Roth IRA for kids seems like a better option than the UGMA/UTMA accounts commonly used for minors as it will be tax free for the rest of their life. Are all kids eligible even if parents are not due to income? Can earned income be for helping shovel the snow, wash dishes, etc.? If so, what ...
by am
Wed Apr 06, 2016 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: More terrible customer service from Vanguard [Invalid Authorized Agent Form]
Replies: 25
Views: 2361

Re: More terrible customer service from Vanguard

My experience with Fidelity has been superb. They also have local branches which is great because my wife could use the help in case I am no longer able to manage our finances.
by am
Wed Apr 06, 2016 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: More terrible customer service from Vanguard [Invalid Authorized Agent Form]
Replies: 25
Views: 2361

Re: More terrible customer service from Vanguard

Whats annoying and troubling to me is how their agents give out wrong information without an ounce of hesitation, doubt or desire to seek help from those who may know more.
by am
Wed Apr 06, 2016 11:09 am
Forum: Personal Finance (Not Investing)
Topic: More terrible customer service from Vanguard [Invalid Authorized Agent Form]
Replies: 25
Views: 2361

Re: More terrible customer service from Vanguard

The specialist told me that the old agent authorization form was not valid and not applicable to new accounts. Even though I was transacting on her SEP IRA for the last 9 years. It is apparently fraud if I transact on wife's account by using her login. In that case that is going to be a big issue f...
by am
Wed Apr 06, 2016 10:56 am
Forum: Personal Finance (Not Investing)
Topic: More terrible customer service from Vanguard [Invalid Authorized Agent Form]
Replies: 25
Views: 2361

Re: More terrible customer service from Vanguard

The specialist told me that the old agent authorization form was not valid and not applicable to new accounts. Even though I was transacting on her SEP IRA for the last 9 years. It is apparently fraud if I transact on wife's account by using her login.
by am
Wed Apr 06, 2016 10:43 am
Forum: Personal Finance (Not Investing)
Topic: More terrible customer service from Vanguard [Invalid Authorized Agent Form]
Replies: 25
Views: 2361

More terrible customer service from Vanguard [Invalid Authorized Agent Form]

Opened Trad. and Roth IRAs for my spouse so that I could do a backdoor Roth for her. I am an authorized agent for her since we started at Vanguard years ago. The first agent I spoke to last week at Vanguard said to continue waiting for the accounts to appear on my login so that I could transact lega...
by am
Tue Apr 05, 2016 9:26 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

its FDIC insured. Not sure how this could be a scam?
by am
Tue Apr 05, 2016 8:11 pm
Forum: Investing - Theory, News & General
Topic: guaranteed 5% vs stocks?
Replies: 113
Views: 12937

Re: guaranteed 5% vs stocks?

The great majority who use these cards pay a ton of fees of all kind. That is probably how they afford the interest. Yea, they are real hard to set up and the 5% interest can go away so don't use them ( :wink: , hoping they do not get too popular and go away).
by am
Tue Apr 05, 2016 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contributions
Replies: 7
Views: 487

Re: Solo 401k contributions

One thing my accountant said is that no fees from him as long as plan admin. prepares all tax return for the plan. Not sure what he means as Fidelity will send all the relevant forms as I understand it. Does anyone know how this involves the accountant? Also, Fidelity has a salary deferral form for ...
by am
Mon Apr 04, 2016 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: back door Roth with existing rollover IRA
Replies: 15
Views: 828

Re: back door Roth with existing rollover IRA

I don't think I had an 8606 from 09 to 14 even though I had 4K of non deduct. contributions. I did an 8606 for my contribution for 15 but basis shows only 15 contribution. I sent my accountant the 8606 from 2008 recently. Hopefully this is not a huge deal or will result in fines of some sort?
by am
Mon Apr 04, 2016 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: back door Roth with existing rollover IRA
Replies: 15
Views: 828

Re: back door Roth with existing rollover IRA

Does an 8606 form have to be filled out yearly after a non deduct. Contrib or only for the year you made the contribution?
by am
Sun Apr 03, 2016 8:58 pm
Forum: Personal Consumer Issues
Topic: Can someone recommend headphones?
Replies: 8
Views: 886

Can someone recommend headphones?

Great sound, comfortable, and durable. How about cheaper ones <50 dollars and more expensive ones ok also. This would be for Apple devices. Thanks.
by am
Sun Apr 03, 2016 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contributions
Replies: 7
Views: 487

Re: Solo 401k contributions

Thanks. Do accountants charge more for accounting fees typically, when you have a solo 401k?
by am
Sun Apr 03, 2016 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contributions
Replies: 7
Views: 487

Re: Solo 401k contributions

So for the employee salary deferral, do you have to specify a contribution %, say 5% like with a traditional 401k? Or can this be adjusted based on each payroll and income by telling the accountant?
by am
Sun Apr 03, 2016 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contributions
Replies: 7
Views: 487

Solo 401k contributions

How does an s Corp business contribute to a solo 401k? Can this be done once at the end of the year like for a SEP IRA or every payroll that is done this involving the accountant? Do contributions have to be regular and recurring or else face possible fines from IRS or can this be inactive for sever...
by am
Sat Apr 02, 2016 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Questions for those who opened solo 401k
Replies: 11
Views: 754

Re: Questions for those who opened solo 401k

Do you know what happens to the solo 401k if the business closes? Does it have to be closed?
by am
Sat Apr 02, 2016 9:06 am
Forum: Personal Finance (Not Investing)
Topic: HSA claim with travel insurance payout
Replies: 2
Views: 227

HSA claim with travel insurance payout

I paid 400 dollars for an immediate care visit while on vacation and paid with my HSA account. To make a long story short, my travel insurance payed for the immediate care visit and sent me a check for the amount. So should I place the money back into the HSA account now or something else? Thanks,
by am
Sat Apr 02, 2016 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Questions for those who opened solo 401k
Replies: 11
Views: 754

Questions for those who opened solo 401k

How much work is this to open for an S Corp in terms of paperwork and accountant involvement? What are typical fees at vanguard or fidelity if any to open? How about any additional fees, paperwork and accountant involvement to keep it open on an annual basis? Spouse currently has a Sep IRA. Her busi...
by am
Thu Mar 31, 2016 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Quick back door Roth question
Replies: 1
Views: 149

Quick back door Roth question

For a back door Roth conversion do I need to transfer my IRAs to workplace 401k only, or my wife's also? We are filing jointly but she does not intend to do the Roth conversion this year. I did mine earlier this year. Thanks.
by am
Wed Mar 30, 2016 9:13 pm
Forum: Investing - Theory, News & General
Topic: Bonds play a valuable role in a diversified portfolio.
Replies: 15
Views: 1983

Re: Bonds play a valuable role in a diversified portfolio.

Say you are an early to mid accumulator 1/3 to 1/2 of the way to your goal. Stable job, high bracket, strong desire to achieve financial independence asap. Not sure a 30% versus 40%+ drop in value (70% versus 80+% stocks) sucks much less in a bear market. 9/10 pain versus 10/10. Just keep working an...

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