Search found 4876 matches

by an_asker
Thu Mar 14, 2024 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce settlement money from IRA, cash, or 401k
Replies: 15
Views: 1339

Re: Divorce settlement money from IRA, cash, or 401k

I would do cash and 401(k) loan. Note that on the 401(k) loan, only the interest payments are double taxed, not the principal. So it also makes sense for you to repay the 401(k) loan as fast as possible. Do not deplete Roth IRA under any circumstances. That space once given up, can never be reclaimed. I would also look out for some 18-month no interest type credit cards, assuming your credit history is good. I never understood how you would be avoid getting doubly taxed on 401(k) loan. Let me explain my point of view: I have $1,000 in my 401(k) which I have never paid tax on. Ideally, I would pay tax on $1,000 once, when I withdraw it. However, let's say I borrow that amount from the 401(k). I repay it in a year after paying 5% interest. S...
by an_asker
Fri Mar 08, 2024 3:16 pm
Forum: Personal Investments
Topic: HSA Investment Question
Replies: 22
Views: 2532

Re: HSA Investment Question

Raspberry-503 wrote: Wed Jan 31, 2024 10:12 pm I'd agree with the previous poster. VOO and chill.
+1!
by an_asker
Fri Mar 08, 2024 3:04 pm
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4578

Re: Alaska trip without taking a cruise - help

Nver2Late wrote: Fri Mar 08, 2024 1:21 pm [...]
Definitely. In Whittier there is a real nice, short hike to the Portage Glacier beach. Can be a nice place to hang out watch the glacier calve from a distance....when the wind isn't howling.
I would like to see bears but have a great fear of them too! So, we just hiked up that hill to where we could see the Glacier and headed back. I was not going to be brave enough to continue on that path down to the Portage Glacier beach.
by an_asker
Fri Mar 08, 2024 12:34 pm
Forum: Personal Investments
Topic: 16 yr old - how can I best take on high risk?
Replies: 65
Views: 5235

Re: 16 yr old - how can I best take on high risk?

I have a 50 year time horizon so it is safe to say I am not at all worried about short-term risk. I want to take advantage of my youth to assist my returns since I have such an enormous amount of time before I think about retiring. I want to deviate from a total market fund in a way that allows me to carry risk through the years for a premium even if it is very slight. I am currently tilted small and value through AVGE. Is this the right move for me? How can I best capture risk premiums? Invest in yourself and your future income. A small business is way riskier than stocks, but done well, can be incredibly rewarding. Imagine how much more you can invest if you make a million dollars a year versus $100,000. The additional return from SV is ...
by an_asker
Fri Mar 08, 2024 12:32 pm
Forum: Personal Investments
Topic: 16 yr old - how can I best take on high risk?
Replies: 65
Views: 5235

Re: 16 yr old - how can I best take on high risk?

I have a 50 year time horizon so it is safe to say I am not at all worried about short-term risk. I want to take advantage of my youth to assist my returns since I have such an enormous amount of time before I think about retiring. I want to deviate from a total market fund in a way that allows me to carry risk through the years for a premium even if it is very slight. I am currently tilted small and value through AVGE. Is this the right move for me? How can I best capture risk premiums? I play tennis with a very smart oncologist. One day, because his brother in law (also in our tennis circle) was boasting about the stocks that had given him 10x etc, I asked him (oncologist buddy, not the b-i-l) which stocks he owned. His answer was: All o...
by an_asker
Fri Mar 08, 2024 12:25 pm
Forum: Personal Consumer Issues
Topic: What are some of the things that improved YOUR quality of life?
Replies: 254
Views: 41954

Re: What are some of the things that improved YOUR quality of life?

Ours is outsourcing chores such as cleaning the house every 3 weeks. Another chore we would like to outsource is cooking but we couldn't find a cost effective way of doing that. Another that we think will improve our quality of life is moving to a city with better year round weather but we are not there yet. (our jobs are not easily portable.) Trying to learn from you if there are other cost effective ways of improving our quality of life. This is not a joke! The best thing that I have done so far is to say 'yes' to whatever DW wants to do. Yes, it will cost money and yes, I will likely be able to get someone to do it for less. But for peace of mind and quality of life, learn to say 'yes'; for everything else, there is Mastercard (or Visa)...
by an_asker
Fri Mar 08, 2024 12:11 pm
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4578

Re: Alaska trip without taking a cruise - help

Go through the tunnel to Whittier. It’s huge and built during WWII. There isn’t anything to do in Whittier other than turn around and drive back out. Boat tour from Whittier of Prince William Sound and the glaciers that come into it was fantastic, but there are other ports to do a boat tour from, too. Let's not forget that if a cruise is out for the OP due to motion issues, any kind of small-boat tour is off-the-scale-out. Well, a couple of points: - maybe a short cruise won't be as bad, especially in the Whittier area where the water is quite calm, and/or - maybe if a couple of members have issues, though the seven+ days cruise would be an issue, leaving them on land for the day can be an equitable decision, so some in the party can get c...
by an_asker
Fri Mar 08, 2024 12:08 pm
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4578

Re: Alaska trip without taking a cruise - help

Tundrama wrote: Fri Mar 08, 2024 10:07 am Been here for 15 years.

The joke is, Alaska has two seasons, winter and family and friends visiting.
[...]
I was told by an Alaska native that the two seasons were:

winter and road repair ;-)
by an_asker
Thu Mar 07, 2024 11:34 am
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4578

Re: Alaska trip without taking a cruise - help

The biggest misconception I had about driving in Alaska was that I thought one needs to rent an RV :oops: (probably because the couple of folks I talked to did so - I didn't think through that it was because they were in a group of families). It is way better (and maneuverable) to get a car or a minivan than an RV :-)
by an_asker
Thu Mar 07, 2024 11:30 am
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4578

Re: Alaska trip without taking a cruise - help

Hello We (family of 4 - tweens and parents) are hoping to take a trip to Alaska for 2 weeks in July in the summer of 2025. We are hoping to avoid taking a cruise as several members of the family have terrible motion sickness (yes - we have tried all of the many treatments/therapies). So, we are hoping to fly to Alaska and drive and then fly back. It’s a little bit daunting as the state is so big and there is a reason cruises are so popular (easy planning, convenience, etc) Can anybody share an itinerary or suggested itinerary? Any tips ? Thanks Here is an outline of how we did it. Check out the entire thread to learn about the things we didn't do missed! :oops: I'm hoping to go to Alaska in the fall season and have wondered whether it will...
by an_asker
Thu Mar 07, 2024 7:35 am
Forum: Personal Consumer Issues
Topic: Alaska trip without taking a cruise - help
Replies: 53
Views: 4578

Re: Alaska trip without taking a cruise - help

curious george wrote: Thu Mar 07, 2024 6:08 am Hello

We (family of 4 - tweens and parents) are hoping to take a trip to Alaska for 2 weeks in July in the summer of 2025. We are hoping to avoid taking a cruise as several members of the family have terrible motion sickness (yes - we have tried all of the many treatments/therapies). So, we are hoping to fly to Alaska and drive and then fly back.

It’s a little bit daunting as the state is so big and there is a reason cruises are so popular (easy planning, convenience, etc)

Can anybody share an itinerary or suggested itinerary?
Any tips ?

Thanks
Here is an outline of how we did it. Check out the entire thread to learn about the things we didn't do missed! :oops:
by an_asker
Wed Mar 06, 2024 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Questions
Replies: 14
Views: 876

Re: Backdoor Roth Questions

life in slices wrote: Wed Mar 06, 2024 1:01 pm OP - I've been doing Backdoor Roths at Fidelity for about 10 years now. When I transfer over $ to my Tradition IRA from my bank account, it takes 3-7 days (or so) for those dollars to settle and be available to covert to my Roth IRA account.

I always end up with something between $0 and $5 in earnings (more so now with higher interest rates) for the cash in my tIRA for those 3-7 days before I can covert it. That $0-$5 shows up about a month later and I additionally fully convert that over to my Roth as well. When I fill out my 8606, I end up paying tax on those small amounts, but it is inconsequential in the scope of things
+1!
by an_asker
Wed Mar 06, 2024 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Questions
Replies: 14
Views: 876

Re: Backdoor Roth Questions

lakpr wrote: Mon Mar 04, 2024 10:26 am Sounds like Vanguard Brokerage Platform gui issues ... Move to Fidelity.
It takes a few days for the $$$ to show up in the account. Surely you should know that (I use Fidelity* where this happens too).

* in our case, the money moves to Fidelity from Schwab. If you are moving from Fidelity to Fidelity, I assume you would not have that issue :-)
by an_asker
Wed Mar 06, 2024 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have to pay $1 for Virginia taxes?
Replies: 15
Views: 1490

Re: Do I have to pay $1 for Virginia taxes?

popoki wrote: Wed Mar 06, 2024 1:27 pm When you go shopping, do you skip the checkout if the item is only $1?
I have heard that in CA (bay area), the minimum to prosecute is $950 or something like that! :oops:
by an_asker
Wed Mar 06, 2024 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have to pay $1 for Virginia taxes?
Replies: 15
Views: 1490

Re: Do I have to pay $1 for Virginia taxes?

SnowDolphin wrote: Wed Mar 06, 2024 1:24 pm For anyone that thinks this may be a silly question, my state has the following for its "Tax Due" and "Tax Refund" lines on the 2023 Income Tax form:
"Tax due - If line 28 is LESS than line 25, subtract line 28 from line 25.
If less than $5.00, enter 0"

"Overpayment - If line 28 is MORE than line 25, subtract line 25 from line 28;
otherwise, go to line 33. If less than $5.00, enter 0"
They figure anything less than $5 is not worth the effort to pay or get back.
So ... if you are doing this electronically, and find that you owe $6, can you pay $2 electronically and then not pay anything else, because at this point you owe only $4? ;-)
by an_asker
Wed Mar 06, 2024 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: When have you stopped saving for retirement?
Replies: 40
Views: 3889

Re: When have you stopped saving for retirement?

This is very helpful, thanks everybody. I realize I've become a little cash-happy. I've been aggressively saving for a house because I'm trying to minimize the mortgage I inevitably take out. But I'd set a goal, hit the goal, and then move it. And I guess this could just go on until I buy a house outright for cash, but have neglected retirement for a few years. Which might not be a very wise trade-off. I'm going to try and take a more balanced approach. I already have a 12 month emergency fund and plenty of cash, so I'm going to get back in the habit of retirement saving. I won't be able to max out our Roth IRAs, but I should be able to hit 50-75% at least, while still saving for my short-term goals. I strongly advise that you revisit maxi...
by an_asker
Wed Mar 06, 2024 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: When have you stopped saving for retirement?
Replies: 40
Views: 3889

Re: When have you stopped saving for retirement?

I recently stopped contributing to my IRA (temporarily) as I save cash for a couple of short term goals (house and baby on the way). While I understand the importance of regular, consistent investment over a long period of time, life happens. IMO, sometimes it makes sense to focus on the months ahead instead of retirement. Am I wrong? When have you stopped (or drastically constrained) investing for retirement? How long was this period? And do you think it significantly affected your retirement prospects? We stopped twice. Once after each kid was born. While it did not significantly affect retirement prospects, it might have delayed it (we are not retired yet) or not! We might have still be working after being FI! Specifically, after first ...
by an_asker
Wed Mar 06, 2024 7:28 am
Forum: Personal Finance (Not Investing)
Topic: "Chunking" Charitable Contribution into Donor Advised Fund
Replies: 18
Views: 1304

Re: "Chunking" Charitable Contribution into Donor Advised Fund

[...] I think because my mind is saying that in the past, if I donated $30,000 to charity I would get $30,000 tax benefit. Now, I get effectively the same thing as donating nothing, since the standard deduction is $29,200. Yes I agree the standard deduction makes it simple and benefits a lot of people, including me. It just minimizes the perception of any financially-motivated charitable moves. So my inclination is to "make it worth it" in that one year where I am going to itemize, and so give a larger amount into the donor advised fund. Then just need to balance that "make it worth it to maximize the tax writeoff" with "how much of my money do I want to give away to charity" right now (even though the Donor F...
by an_asker
Mon Mar 04, 2024 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Feels impossible to take the foot off the pedal of saving, but saving at the boglehead pace is stressful.
Replies: 88
Views: 13592

Re: Feels impossible to take the foot off the pedal of saving, but saving at the boglehead pace is stressful.

On the other hand, if you are worried about your kids and down the family line, let me tell you something that someone has as his/her signature: Earning $1.00 expenses $1.01 - misery Earning $1.00 expenses $0.99 - contentment So, you can earn a million, but if your kids are gonna learn to spend $1m + $0.01, you cannot save their financial future! Slightly OT, but this is a small variation on a quote from Mr. Micawber in Dickens' David Copperfield. (“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery.”) A great novel and a fantastic character, though far from Boglehead principles! Yes, someone on this forum has...
by an_asker
Mon Mar 04, 2024 12:54 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15322

Re: What good is tax deferred?

Charles Joseph wrote: Sun Mar 03, 2024 5:04 pm I deferred my savings into my 401k at a marginal rate of 22% (I'm a retired nurse).

I'm now filling the 0% (standard deduction), 10% and partially the 12% tax brackets with withdrawals for Roth conversions, which will grow and be withdrawn tax free.

I'm not spending any of my tIRA now, but I'll be living off little bits before RMDs at 75, so hopefully that will soften the RMDs. That will be taxed at 15% under the current law.

So all in all, a good deal.
I have the same questions for you as I have for livesoft above. Did you defer at the max level? What was your asset allocation in the tax-deferred account?
by an_asker
Mon Mar 04, 2024 12:42 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15322

Re: What good is tax deferred?

livesoft wrote: Wed Feb 28, 2024 6:12 pm During accumulation our tax bracket was as high as 33%. During decumulation we haven't gotten above 12%. 33% - 12% = 21%. Put that in your pipe and smoke it.
I really need to understand how you did it. What was your asset allocation like in during accumulation - in the tax deferred accounts? And did you contribute at the maximum allowable limits?
by an_asker
Mon Mar 04, 2024 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Feels impossible to take the foot off the pedal of saving, but saving at the boglehead pace is stressful.
Replies: 88
Views: 13592

Re: Feels impossible to take the foot off the pedal of saving, but saving at the boglehead pace is stressful.

I'm terrified of my family being denied the pleasures of "the good life" that we have potentially/maybe earned through blood/sweat until we are too old and kids are too grown. I'm also terrified of being old and limited financially. The problem is of course the uncertainty of the future and the vast dispersion of outcomes, including fat tails both ways. I do feel confident about overcoming the latter problem (old and financially limited) if we continue on the path that we've been on for the last 5 years or so. But that path is stressful to me, feels really limiting, and in general feels like our enjoyment of modest comfort/experiences/travel is hurting for some unknown future which my kids, while being kids, will not know, and wi...
by an_asker
Wed Feb 28, 2024 9:22 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: UIUC or UF for ECE?

I am following what is happening? There are a few variables still left but we just got several good news that pretty much sealed the deal in favor of UF. (It finally tilted the wife's preference.) 1. Last week, she got accepted to UF (which was expected). 2. Yesterday, I took my daughter to UF to meet with professors/advisor/several club leaders and see the dorm. One computer engineering professor even told DD to work in his robotics lab starting this Fall. Every student we met was so positive. All the juniors/seniors had internship/jobs secured. I can picture my daughter will grow and succeed in that peer environment. 3. Finally, a few hours ago, she received the merit scholarship email from UF. The total package with the already eligible...
by an_asker
Mon Feb 26, 2024 7:50 am
Forum: Personal Consumer Issues
Topic: Roof repair - reasonable?
Replies: 40
Views: 3570

Re: Roof repair - reasonable?

[...]Honestly it will depend on many factors. I replaced my roof last summer with 50 year shingles so not cheap (required by HOA). House is about 2200 square feet so not large. All bids I got (5) were between $20-22k. Behind me there are condo townhomes and they are paying $35k special assessment for similar sized houses, and I cannot fathom why because they are using cheaper shingles than I did. This is a MCOL area. Ten years ago folks in my neighborhood with the same 50 year shingles were getting the roofs done for $8k (my house was one of the last to be done). I have observed that small projects seem to have gone up even more than large one post pandemic. I have ended up doing some smaller projects myself because my effective hourly wag...
by an_asker
Mon Feb 26, 2024 7:43 am
Forum: Personal Consumer Issues
Topic: Roof repair - reasonable?
Replies: 40
Views: 3570

Re: Roof repair - reasonable?

Vinny_in_NJ wrote: Sun Feb 25, 2024 9:15 am Not sure where you're located but it seems a little high. I had a roof replaced due to wind pre pandemic and it cost about that much. Things have gone up a lot so my figure may be off by a lot.
[...]
You seriously got an entire roof replaced for about that amount!!

I guess here in FL we need to reword the idiom "taken to the cleaners" as "taken to the roofers". To replace a roof in Florida, my understanding is that you need at least $10,000 ... and it only goes up from there (big house, second floor, etc).
by an_asker
Sun Feb 25, 2024 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Do your intra-company yearly raises keep with inflation?
Replies: 60
Views: 6054

Re: Do your intra-company yearly raises keep with inflation?

B4Xt3r wrote: Sat Feb 24, 2024 1:51 pm Hi Guys,

Just curious, do your yearly raises generally keep with inflation or not? Seems like over the last 2-3 years, current company is basically keeping wages the same inflation adjusted. Not sure if that's common or not.

Yours? Just trying to form an opinion about how common my experience is & how competitive they are being with other opportunities.

-b4xt3r
Haha! "Raises, are you kidding me, raises!" (need to say it like Jim Mora talking about Playoffs).

I am getting a big fat $0 raise! :oops:
by an_asker
Fri Feb 16, 2024 4:23 pm
Forum: Personal Investments
Topic: Question re: tracking after-tax contributions within Roth account
Replies: 5
Views: 446

Re: Question re: tracking after-tax contributions within Roth account

OP: Cannot answer your question, but just want to confirm that my understanding is right. You are asking this only for withdrawal from the account, right?
by an_asker
Fri Feb 16, 2024 3:19 pm
Forum: Personal Consumer Issues
Topic: Exercise Is Overrated
Replies: 32
Views: 3342

Re: Exercise Is Overrated

beardsicles wrote: Fri Feb 16, 2024 2:09 pm Hot take: exercise is underrated.
That can be a competing thread #typicalBogleheads ;-)
by an_asker
Fri Feb 16, 2024 3:17 pm
Forum: Personal Consumer Issues
Topic: Exercise Is Overrated
Replies: 32
Views: 3342

Re: Exercise Is Overrated

molecular wrote: Fri Feb 16, 2024 1:18 pm Share your latest workout.
[...]
You'll probably laugh, but I kid you not - mine is walking around the kitchen island in our house (no, our house is not a mansion).

For the month of January, I have averaged over 8 miles per day.
by an_asker
Fri Feb 16, 2024 9:03 am
Forum: Personal Consumer Issues
Topic: What inferior good do you love?
Replies: 232
Views: 25541

Re: What inferior good do you love?

Onions. Onions are not inferior. From healthline website. https://www.healthline.com/nutrition/onion-benefits In economics, "inferior" has nothing to do with the nutrition or health benefits of a product. It has to do with consumer buying habits. What do consumers graduate to (from onions) when they become ballers? Shallots, leeks, pearl onions, cipollini onions, vidalia onions, ... heck, even white onions are more expensive than plain old utilitarian yellow onions. For me, onions are an inferior good because I rarely buy anything other than the cheapest yellow onions. I can't taste the difference between yellow onions and shallots, white onions, and "sweet" onions like vidalia, so why spend more on them? Sometimes I bu...
by an_asker
Thu Feb 15, 2024 11:36 am
Forum: Personal Consumer Issues
Topic: What inferior good do you love?
Replies: 232
Views: 25541

Re: What inferior good do you love?

jebmke wrote: Thu Feb 15, 2024 7:13 am
Dottie57 wrote: Thu Feb 15, 2024 7:11 am
CoatHanger wrote: Thu Feb 15, 2024 7:07 amOnions.
Onions are not inferior. From healthline website.

https://www.healthline.com/nutrition/onion-benefits
In economics, "inferior" has nothing to do with the nutrition or health benefits of a product. It has to do with consumer buying habits.
What do consumers graduate to (from onions) when they become ballers?
by an_asker
Thu Feb 15, 2024 11:34 am
Forum: Personal Consumer Issues
Topic: What inferior good do you love?
Replies: 232
Views: 25541

Re: What inferior good do you love?

dunk1234 wrote: Wed Feb 14, 2024 5:24 pm In economics, an inferior good is a good whose demand decreases when consumer income rises
[...]
... or when consumer health decreases and/or weight increases! :oops:
by an_asker
Wed Feb 14, 2024 7:52 am
Forum: Personal Investments
Topic: Did backdoor Roth. How does this impact taxes for a 401(k) to traditional IRA rollover?
Replies: 29
Views: 1772

Re: Did backdoor Roth. How does this impact taxes for a 401(k) to traditional IRA rollover?

OP, pro-rating is not that big a deal in the long run. Folks just make a mountain out of a molehill. The only primary drawback is that you got to maintain more record which, for some folks, might be a pain in the %$S neck. In essence, here is what happens (fictitious numbers of course), assuming no 401(k) contributions for the year and no market changes either: a) this is the Happy Path Backdoor Roth IRA: beginning of year balances taxable: $100,000 401(k): $20,000 traditional IRA: $0 Roth IRA: $0 after contribution to traditional IRA taxable: $92,000 401(k): $20,000 traditional IRA: $8,000 Roth IRA: $0 after "backdooring" the Roth IRA: taxable: $92,000 401(k): $20,000 traditional IRA: $0 Roth IRA: $8,000 end of year balances taxa...
by an_asker
Fri Feb 09, 2024 5:54 pm
Forum: Personal Investments
Topic: Contributing to 2023 Roth IRA with no 2023 income
Replies: 35
Views: 2935

Re: Contributing to 2023 Roth IRA with no 2023 income

I did not file taxes nor did I make enough to file taxes in 2023. The requirement to file taxes is much higher than the contribution limit for an IRA, so clarify something: did you actually not have income, or did you earn something, but less than the standard deduction? Correct, I earned around $8,000 last year but did not file a tax return as the standard deduction was around $14,000 iirc. I was employed at the time and I have a W-2. Then you can and should contribute to the 2023 Roth IRA. In fact, if you have spent the money you earned but have either savings from some other source or generous parents (who can afford it), you can contribute money from them too - so long as it doesn't exceed a) your income for 2023 and b) the maximum con...
by an_asker
Fri Feb 09, 2024 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Continued tIRA Growth Undermines Roth Conversion Plan - A Real Life Example
Replies: 81
Views: 7802

Re: Continued tIRA Growth Undermines Roth Conversion Plan - A Real Life Example

JazzTime wrote: Mon Feb 05, 2024 1:59 pm [...]
It's my annual tax bill that brings on the tears, not to mention the monthly IRMAA penalty where I get to pay five times as much as everyone else for Medicare. :oops:
I am curious what the IRMAA penalty is per month? I've never gotten to the point to figure it out.
by an_asker
Fri Feb 09, 2024 10:21 am
Forum: Personal Investments
Topic: Investing paralysis
Replies: 39
Views: 2809

Re: Investing paralysis

Welcome to the forum. :happy [...] A lot of people went through this after the 2007 - 2009 debacle. And they waited years and years to get back in the market and lost a lot of money because of that poor decision. [...] I started investing in the latter half of 1990s. In the way late 1990s, lost a ton (relatively and opportunity cost-ly speaking) and sold at the bottom. Didn't invest in the market for the next few years while I watched as the Nasdaq slowly regained its losses. Finally went back in but would have been way better off ... even if I had not sold the absolute duds of that era! But the good thing was that at least a portion of my 401k kept going to the market even during those times (yes, had I put 100%, I would have been better ...
by an_asker
Fri Feb 09, 2024 10:15 am
Forum: Personal Investments
Topic: Investing paralysis
Replies: 39
Views: 2809

Re: Investing paralysis

Since the S&P is at record highs, .... I think people like you invest because they think the stock market (i.e. the S&P) will go up, but they complain when the S&P goes up. In other words, the S&P can't get higher unless it spends some time at records highs --- by definition. I was a steady contributor before, wasn't too concerned with volatility. I suspect I am carrying some concerns over the uncertainty of the last 4 years and the skyrocketing national debt. So, have you not invested the last four years and are trying to figure out when to put that money in the market? I suggest you do some analysis - right now the interest rate is at 5% or so, and still the market is going higher. Where do you think a chunk of the money ...
by an_asker
Mon Feb 05, 2024 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: 2023 Tax Year - First Big Roth Conversion - Triage Summary
Replies: 165
Views: 11174

Re: 2023 Tax Year - First Big Roth Conversion - Triage Summary

micron wrote: Sun Feb 04, 2024 12:08 pm [...]
I'm a retired 45 year mechanical engineer with lots of MS-Excel experience.
[...]
I am a bit confused. Way below in the thread you say you have limited time for conversion. Maybe I misread - are you saying you have been working as a mechanical engineer for 45 years or that you are 45 year old? Originally, I thought it was the latter but based on what you wrote way below, I am starting to think that I was wrong :oops:
by an_asker
Thu Feb 01, 2024 8:38 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

srt7 wrote: Thu Feb 01, 2024 8:07 pm
an_asker wrote: Thu Feb 01, 2024 7:08 pm [...]
Oh boy! Maybe it is known only for its grad school? And/or only abroad? And/or the rankings have slipped in the last three decades?

When I was applying to grad school from India, Urbana-Champaign was one of the top picks for EE (not my undergrad major).
Heh! It is called Univ. of India Univ. of China for a reason after all :wink:
Haha!!!
by an_asker
Thu Feb 01, 2024 7:58 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

[...] This is a classic moving of the goalposts. Many posters downplayed how competitive UIUC really was. Then there was data presented to show that UIUC really is a top5 ECE university when it comes to rankings but then the conversation pivoted to career earnings. The Midwest is a pretty low cost of living area, 100k in the Midwest goes farther than 150k in LA or SF or even Boston for that matter. Now whether going to an Elite school in the Midwest boxes you into a lower salary just based on proximity is a valid point but in my experiences, if a UIUC grad were to apply to a job in SF, LA or NY, they would no problems commanding 150k+. Many UIUC ECE grads are perfectly happy to stay in the Midwest, especially the Chicago area and the salar...
by an_asker
Thu Feb 01, 2024 7:24 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

KlangFool wrote: Wed Jan 31, 2024 1:15 pm
Vulcan wrote: Wed Jan 31, 2024 1:03 pm
The key word here is naches.

[...]

It is hard to put a price on it, and you can't really buy it.
Vulcan,

"being responsible for their own success rather than having been provided an unearned handout."

In my opinion, it does not apply in this case. The person is either given 200+K for a luxury education or to be giver 200+K upon graduation. Either case, this person did not earn it. It is an unearned handout.

KlangFool
Not true. Earning a full ride is what caused parents to save the money they might've otherwise spent sending her to, say, GT.
by an_asker
Thu Feb 01, 2024 7:22 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

This may be something that is worth unpacking to help arrive at the decision: what is it that turned her off applying to MIT that she hopes will be different at GT? Same question re: UIUC/UF vs GT. I had a brief discussion with her about this. According to her, she won't be happy because she doesn't like to hang out with such kids (highly motivated, over achieving, aggressive, proactive, A-type personality). If this is true ... I have presented anecdotal evidence a post or two ago!! But honestly, I'm not 100% sure whether she told the truth. There could be other reasons but I didn't inquire any further. I can only speculate. I think location (far from home) could be a factor. Not sure what you are asking about UIUC/UF vs GT. Another thing ...
by an_asker
Thu Feb 01, 2024 7:13 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

TomatoTomahto, I think it is always a question of risks and degrees of certainty. As I believe the professional trading slang would go, what's the market on that degree premium? ...but beyond that, I think it is also the matter of what is well-known in advance, and arguably, what is most worth paying the money for, namely, the peer group quality. For that, beyond the already well-established and somewhat fuzzy metrics such rankings and ACT score ranges (where UIUC, GT, and UF are in dead heat, USNWR-ranked ~30th nationwide, with ~29-34 median ACT score range), I have another crude heuristic that I personally find rather compelling: the number of given school's students in the Putnam top 100/200/500 :-) On that measure, too, UIUC, GT, and U...
by an_asker
Thu Feb 01, 2024 7:08 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

yoga wrote: Wed Jan 31, 2024 12:25 pm On the topic of name recognition, I had to look up what UIUC stood for. I've never heard of this school. I'm a STEM major from the Northeast. I've been working as an engineer in the northeast for over 20 years. Moderate involvement in hiring at a megacorp but have never seen this school on a resume. We hire ee, cs, me, etc. Definitely heard of UF!
Oh boy! Maybe it is known only for its grad school? And/or only abroad? And/or the rankings have slipped in the last three decades?

When I was applying to grad school from India, Urbana-Champaign was one of the top picks for EE (not my undergrad major).
by an_asker
Thu Feb 01, 2024 7:05 pm
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

TY for your insight. I agree. If she can build those leadership skillsets (which she currently lacks) at college, I can see a bright future ahead of her. Will UIUC offer more opportunities and provide the environment to her to build these skillsets is my million dollar question. There's some truth to the outcome will be the same, no matter which college one attends. But the peer group I interacted with at college arguably had a bigger impact on who I'm today. Leadership skills are going to come from engineering extracurriculars, preferably with minimal faculty involvement, not doing low level lab work for a prof. Look at the engineering racing teams, Formula SAE, baja, solar car, etc. What kind of facilities to undergrad students have acce...
by an_asker
Tue Jan 30, 2024 10:27 am
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

tashnewbie wrote: Tue Jan 30, 2024 10:19 am The decision may be made for her.

I wouldn't count your chickens before they hatch, put the cart before the horse, etc.

OP, please update the post if/when she gets acceptances at UF or GT.
Even in current competitive environment, I think UF is a given for FL kid with merit scholarship. GT should also be a given but yes, there is a chance of not getting in.

That said, I thought conventional wisdom was that kid going to noname school in CA had better opportunities in local software companies than even kids in GT (unless of course, the kid stood out among peers at GT).
by an_asker
Tue Jan 30, 2024 10:17 am
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

yoga wrote: Tue Jan 30, 2024 9:42 am I went to a large state flagship along with many from my high school. Contrary to popular belief, I can count on one hand the times I saw any of them and those were planned. I can't remember even seeing anyone from high school just walking around campus. I was a stem major, most others were not.

The friend thing shouldn't be an issue. The free ride to a good option is a no brainer.
+1!

... unless you want to start your career with a $150K+ job at a FAANG.
by an_asker
Tue Jan 30, 2024 9:36 am
Forum: Personal Consumer Issues
Topic: college decision: UIUC or UF for ECE?
Replies: 339
Views: 31717

Re: college decision: $63k UIUC ECE or full-ride UF ECE?

steadyhand wrote: Mon Jan 29, 2024 8:06 pm I would choose UIUC. Much better reputation for research and graduate school if that is something in the pipeline. I can only think of sports when I think of UF unfortunately. However, the tuition difference makes me feel they are not so different either.
You're not a Floridian, I assume!
by an_asker
Tue Jan 30, 2024 8:57 am
Forum: Personal Investments
Topic: Help me understand "late" backdoor Roth IRA
Replies: 5
Views: 993

Re: Help me understand "late" backdoor Roth IRA

CAsage wrote: Tue Jan 30, 2024 8:50 am
arr wrote: Mon Jan 29, 2024 2:26 pm This is my first time doing Backdoor Roth. I understand the two-step process and that it is cleanest to make both nondeductible contribution to traditional IRA and conversion to Roth IRA in the same calendar year as the tax year. However, we could not do this for 2023 since we weren’t sure if we will be eligible to contribute directly to Roth IRA based on the annual income.
I will observe that nothing prevents someone, even if eligible for a direct Roth contribution, from using the backdoor process. It might be worthwhile when unsure of annual income, to do this early in the year. Doing that right now for a family member who may or may not be eligible - just do the two step and you are good either way.
+1!
by an_asker
Wed Jan 24, 2024 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Depreciation Recapture
Replies: 33
Views: 2300

Re: Depreciation Recapture

exodusNH wrote: Wed Jan 24, 2024 11:38 am
jrkey wrote: Wed Jan 24, 2024 10:25 am Thanks, @Lee_WSP. I'm going to need some time to go through that publication.

And thanks @exodusNH for the comment. I need to confirm the tax implications of a second property for personal use (occupied by a family member and paying less than fair market rent).
A second property has no tax implications. It's just a second home / vacation home, whatever you want to call it. You didn't purchase it to rent it out to the general public.

I admire that the effort you're putting into this to make sure you're compliant with tax law, but I think you're overdoing it.
LOL Yes!