Search found 60 matches

by bmay
Fri Feb 26, 2016 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Non-deductible IRA contribution, 8606 part 1 is empty
Replies: 11
Views: 981

Re: Non-deductible IRA contribution, 8606 part 1 is empty

Pls confirm that you entered a Traditional IRA contribution for 2015 tax year into the HR Block software. DSInvestor, I double checked, and you are correct. I entered the wrong information. At the 1099-R questionnaire, which H&R Block asks 'Did you make or will you make before April 18, 2016' a...
by bmay
Fri Feb 26, 2016 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Non-deductible IRA contribution, 8606 part 1 is empty
Replies: 11
Views: 981

Re: Non-deductible IRA contribution, 8606 part 1 is empty

Yes, sounds like you probably received a deduction on line 32. If so, your deduction and the taxable conversion on Form 8606 offset each other. There is no need to change the contribution to non deductible as it will not change your total tax. If you neither received a deduction OR a part I 8606, t...
by bmay
Sat Oct 24, 2015 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with new 401k investment options
Replies: 13
Views: 889

Re: Need help with new 401k investment options

About the mid caps - the 500 index is about 13% mid caps and the small cap fund is about 8% mid-caps, so you are not missing mid caps by any means. Okay thanks, that makes sense! So it sounds like I should do 80-85% FUSVX and 15-20% FSSVX if I want to approximate the US stock market? For example, I...
by bmay
Sat Oct 24, 2015 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Need help with new 401k investment options
Replies: 13
Views: 889

Re: Need help with new 401k investment options



I'd rather not invest in a fund with a 0.76% ER though.
by bmay
Fri Oct 23, 2015 8:40 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with new 401k investment options
Replies: 13
Views: 889

Re: Need help with new 401k investment options

53timr wrote:According to Morningstar, 12.47% of FUSVX is mid-cap. I think you have chosen the best funds you have available.


Where exactly do you see that?
by bmay
Thu Oct 22, 2015 7:21 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with new 401k investment options
Replies: 13
Views: 889

Need help with new 401k investment options

Recently, my company switched its 401k to Fidelity and I'm wondering what my best options are since there aren't any "total market" index funds available. I'm in my 20s and having been aiming for 85-90% stock, 10-15% bond. Available funds: http://i.imgur.com/r20SgCI.png I think my best opt...
by bmay
Tue Mar 24, 2015 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: "Reversing" an IRA Recharacterization
Replies: 1
Views: 250

"Reversing" an IRA Recharacterization

Last month, I recharacterized my 2014 Roth IRA contributions to Traditional contributions because I thought I was in a high enough marginal tax bracket to justify the deduction. However, now I am realizing I do not want the deduction and want my contributions to be Roth. Can I re-recharacterize back...
by bmay
Mon Mar 23, 2015 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should I recharacterize 2014 Roth contributions?
Replies: 7
Views: 536

Re: Should I recharacterize 2014 Roth contributions?

The wiki has some background info: IRA recharacterization I don't have the experience to answer your question except that no one can predict their tax rate in retirement. The best approach is to diversify, meaning to hold both traditional and Roth IRAs. When you get really close to retirement, you ...
by bmay
Mon Mar 23, 2015 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I recharacterize 2014 Roth contributions?
Replies: 7
Views: 536

Re: Should I recharacterize 2014 Roth contributions?

Do you want the Traditional IRA tax deduction? Are you even eligible for the Traditional IRA tax deduction? If you're not eligible for the Traditional IRA tax deduction, you should keep your Roth IRA contribution. Roth IRA contribution beats non-deductible contribution to Traditional IRA any day. I...
by bmay
Mon Mar 23, 2015 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I recharacterize 2014 Roth contributions?
Replies: 7
Views: 536

Should I recharacterize 2014 Roth contributions?

Hello all,

Last year, I contributed $5,500 to a Roth IRA. My federal marginal tax rate was 15%, my state marginal tax rate was ~5% and my local marginal tax rate was ~3%. Should I recharacterize my IRA contributions as Traditional? I feel like I'm right on the bubble of which way to go.

Thanks.
by bmay
Thu Oct 02, 2014 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: When/how to rebalance?
Replies: 19
Views: 1672

Re: When/how to rebalance?

One should not confuse "rebalancing," which is re-establishing a previously established asset allocation (AA), with re-evaluating that target AA to see if you want to change it. Your portfolio is "balanced" if it is at the desired AA. Rebalancing is putting it back to that AA if...
by bmay
Wed Oct 01, 2014 8:34 pm
Forum: Investing - Help with Personal Investments
Topic: When/how to rebalance?
Replies: 19
Views: 1672

When/how to rebalance?

Me: -24 years old -no debt -65k in 401k/Roth IRA/HSA -stock/bond allocation ~82/18 When the heck do I "rebalance" my investments? I've seen mixed things saying once a year to match your "age in bonds" or "age in bonds - 10" or other similar rules. Is that the best optio...
by bmay
Tue May 27, 2014 8:42 pm
Forum: Investing - Help with Personal Investments
Topic: Investing HSA Contributions
Replies: 6
Views: 676

Investing HSA Contributions

I have a decent amount of money in an HSA with Elfcu. They are going to start implementing a $3/month fee if I don't have at least $2,500 in my HSA savings account (non-investment portion). The savings account has a 1.00% APY. Would you recommend putting $2,500 in the account to get a guaranteed 2.4...
by bmay
Fri May 16, 2014 10:04 am
Forum: Investing - Help with Personal Investments
Topic: Petitioning for New 401(k) Provider
Replies: 3
Views: 742

Petitioning for New 401(k) Provider

My company's 401(k) provider is ADP. I recently talked to our CFO about our 401(k) options and how all of the funds have ER's greater than 0.70%. The average ER is probably around 1%. He said he was unhappy with the fees and we tried to find other funds that ADP said were "available" to ad...
by bmay
Fri Apr 25, 2014 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Experiences with Eli Lilly Credit Union for HSA?
Replies: 69
Views: 18563

Re: Experiences with Eli Lilly Credit Union for HSA?

Got this response from Elfcu when asking why only wire transfer is available:

"At this time we do not offer the initiation of ACH to TDA because TDA Ameritrade only accepts funds from us via wire transfer."
by bmay
Mon Apr 21, 2014 9:19 am
Forum: Investing - Help with Personal Investments
Topic: Experiences with Eli Lilly Credit Union for HSA?
Replies: 69
Views: 18563

Re: Experiences with Eli Lilly Credit Union for HSA?

Sent this email after hearing about their new HSA wire transfer fee: I have been contributing to my HSA account with Elfcu for a few months and saw today that you are now charging $24 per wire transfer to TD Ameritrade for their investment program. I am a bit frustrated to see this fee pop up out of...
by bmay
Fri Apr 18, 2014 11:11 am
Forum: Investing - Help with Personal Investments
Topic: Experiences with Eli Lilly Credit Union for HSA?
Replies: 69
Views: 18563

Re: Experiences with Eli Lilly Credit Union for HSA?

tfb wrote:I'm going to write to them and ask them to consider doing the transfers by ACH.


Who would you write to in this situation?
by bmay
Fri Apr 18, 2014 10:55 am
Forum: Investing - Help with Personal Investments
Topic: Experiences with Eli Lilly Credit Union for HSA?
Replies: 69
Views: 18563

Re: Experiences with Eli Lilly Credit Union for HSA?

This is ludicrous. I'm strongly considering closing my account.

Is there a balance at which all fees are waived for HSA Bank/HSA Administrators?
by bmay
Wed Apr 16, 2014 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Deciding on a new HDHP
Replies: 3
Views: 445

Deciding on a new HDHP

My current health plan is about to end and I need to enroll in a new HDHP. There are 5 possible plans I'm thinking of choosing. How do you generally decide on something like this? My medical expenses last year probably ranged from $750-1500 (although I would need to go back to confirm those numbers ...
by bmay
Wed Apr 16, 2014 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Tax Withholding with After-Tax Adjustments to Income
Replies: 6
Views: 503

Re: Tax Withholding with After-Tax Adjustments to Income

I am independently investing in an HSA (my company does not have a HDHP or HSA ) with after-tax contributions. ... Really? Or was that a typo? If you don't have a High Deductible Health Plan you aren't eligible to contribute to an HSA this year. Health insurers are required to send the IRS a list o...
by bmay
Tue Apr 15, 2014 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Withholding with After-Tax Adjustments to Income
Replies: 6
Views: 503

Re: Tax Withholding with After-Tax Adjustments to Income

Have you tried the IRS withholding calculator? http://apps.irs.gov/app/withholdingcalculator/ Yeah, I guess I've been more confident in increasing my federal withholding because of the decent online calculators. However, my state doesn't seem to have the same tools available. For instance, all the ...
by bmay
Tue Apr 15, 2014 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Withholding with After-Tax Adjustments to Income
Replies: 6
Views: 503

Re: Tax Withholding with After-Tax Adjustments to Income

Have you tried the IRS withholding calculator? http://apps.irs.gov/app/withholdingcalculator/ Yeah, I guess I've been more confident in increasing my federal withholding because of the decent online calculators. However, my state doesn't seem to have the same tools available. For instance, all the ...
by bmay
Tue Apr 15, 2014 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Withholding with After-Tax Adjustments to Income
Replies: 6
Views: 503

Tax Withholding with After-Tax Adjustments to Income

Hello, I am independently investing in an HSA (my company does not have a HDHP or HSA) with after-tax contributions. It is a little frustrating because if I claim "regular" exemptions as a single taxpayer, I have quite a large return at the end of the year at both the federal and state lev...
by bmay
Fri Apr 04, 2014 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Last-month rule + family/individual HDHP switch
Replies: 0
Views: 190

HSA Last-month rule + family/individual HDHP switch

I was covered under a family HDHP starting 5/1/13. I will likely be switching to an individual HDHP on 5/1/2014. I have already made $4,300 in contributions to an HSA based on the months I was part of the family HDHP ($6,450 family limit * 8/12 months). I am wondering if I am eligible to contribute ...
by bmay
Sun Mar 09, 2014 10:57 pm
Forum: Investing - Help with Personal Investments
Topic: 22 y.o Health Savings Account!?
Replies: 4
Views: 462

Re: 22 y.o Health Savings Account!?

linakin wrote:Since you're on your parents plan, they could have one if the plan is right, but you couldn't.


You can be on a parent's HDHP and still be eligible to open an HSA as long as you cannot be claimed as a tax dependent (and you meet the other HSA eligibility requirements).
by bmay
Tue Mar 04, 2014 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: Mistaken HSA Distributions
Replies: 4
Views: 451

Re: Mistaken HSA Distributions

anyone else?
by bmay
Mon Mar 03, 2014 11:56 pm
Forum: Investing - Help with Personal Investments
Topic: Mistaken HSA Distributions
Replies: 4
Views: 451

Re: Mistaken HSA Distributions

What were the dates of the $2000 withdrawal and the 2013 contribution? I think they'd have to be within 60 days of each other for this. Why do you say that? Doesn't this imply that you have to do it within a year of discovering it was an ineligible contribution: " the account beneficiary may r...
by bmay
Mon Mar 03, 2014 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Mistaken HSA Distributions
Replies: 4
Views: 451

Mistaken HSA Distributions

I may have received distributions from an HSA for ineligible medical expenses this year and in the past. My understanding is that as long as I put the money back into my HSA and do not deduct that amount of money from my taxable income, I am in the clear. Is this correct? For instance, say I had $2,...
by bmay
Thu Feb 27, 2014 7:20 pm
Forum: Investing - Help with Personal Investments
Topic: "Optimizing" Portfolio & Expense Ratios
Replies: 7
Views: 488

Re: "Optimizing" Portfolio & Expense Ratios

I was considering putting some VXUS (Vanguard Int'l Stock) into the HSA but the Management Fee is 0.11%. I do not believe that VXUS is one of the commission-free ETFs at TDAmeritrade. And as dad2000 stated, the management fee is included in the expense ratio. Please read the prospectus from Vanguar...
by bmay
Thu Feb 27, 2014 7:19 pm
Forum: Investing - Help with Personal Investments
Topic: "Optimizing" Portfolio & Expense Ratios
Replies: 7
Views: 488

Re: "Optimizing" Portfolio & Expense Ratios

I'll bite. The "management fee" is a component of the expense ratio, not in addition to it. The ER you should pay the most attention to is "Net Expense Ratio". Aside from wrap fees (which don't exist in HSA Bank as far as I know), the Net ER is what it will cost you to own the f...
by bmay
Thu Feb 27, 2014 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: "Optimizing" Portfolio & Expense Ratios
Replies: 7
Views: 488

Re: "Optimizing" Portfolio & Expense Ratios

I have an HSA with HSABank and use the TDAmeritrade investment option. I am unaware of "management fees" that way if one has enough invested with them. Do you mind explaining a little your situation and where your "management fees" come from? Vanguard Total Stock Market ETF Look...
by bmay
Thu Feb 27, 2014 1:33 pm
Forum: Investing - Help with Personal Investments
Topic: "Optimizing" Portfolio & Expense Ratios
Replies: 7
Views: 488

"Optimizing" Portfolio & Expense Ratios

Hello, I'd like to invest ~$3,500 into my HSA and I'm seeing some management fees for these TD Ameritrade ETFs that are a little bothersome. I'd like to reallocate money to get the overall ER of my portfolio as low as possible (I'm considering Admiral Shares for Vanguard Roth IRA, too). Target asset...
by bmay
Sun Feb 16, 2014 10:29 pm
Forum: Investing - Help with Personal Investments
Topic: Prioritizing investments- HSA goes where?
Replies: 19
Views: 1594

Re: Prioritizing investments- HSA goes where?

Well, in my state HSAs are recognized, but I know you can't deduct FICA taxes if your contributions are post-tax. Would you place HSA contributions ahead of 401k contributions in that case? Yes, because the income tax deduction is much more valuable than the FICA deduction. (And it's an adjustment ...
by bmay
Sun Feb 16, 2014 10:24 pm
Forum: Investing - Help with Personal Investments
Topic: Prioritizing investments- HSA goes where?
Replies: 19
Views: 1594

Re: Prioritizing investments- HSA goes where?

Where would it be in your list if it is a post-tax (non-payroll deducted) HSA? You can still deduct your contributions from your taxable income on both federal and state returns (provided your state recognizes HSAs). I still place HSAs very high on the list although the contribution limit is relati...
by bmay
Sun Feb 16, 2014 9:56 pm
Forum: Investing - Help with Personal Investments
Topic: Prioritizing investments- HSA goes where?
Replies: 19
Views: 1594

Re: Prioritizing investments- HSA goes where?

Where would it be in your list if it is a post-tax (non-payroll deducted) HSA? You can still deduct your contributions from your taxable income on both federal and state returns (provided your state recognizes HSAs). I still place HSAs very high on the list although the contribution limit is relati...
by bmay
Sun Feb 16, 2014 9:41 pm
Forum: Investing - Help with Personal Investments
Topic: Prioritizing investments- HSA goes where?
Replies: 19
Views: 1594

Re: Prioritizing investments- HSA goes where?

Where would it be in your list if it is a post-tax (non-payroll deducted) HSA?
by bmay
Thu Dec 19, 2013 10:58 pm
Forum: Investing - Help with Personal Investments
Topic: What next: HSA or taxable?
Replies: 12
Views: 1104

Re: What next: HSA or taxable?

1) If you expect significant gains in salary in the future, have you considered Roth IRA or Roth 401(k) contributions or converting your existing IRA to a Roth? a) Effectively increase retirement savings by paying tax now at your low rate b) Preserve option of Backdoor Roth in the future c) Roth IR...
by bmay
Thu Dec 19, 2013 12:01 am
Forum: Investing - Help with Personal Investments
Topic: What next: HSA or taxable?
Replies: 12
Views: 1104

Re: What next: HSA or taxable?

Since the HSA is not through your employer, you will not save on FICA tax which is a bummer. If an HSA was offered through your employer you could save on FICA tax if contributions were taken directly from your paycheck. It's still a great savings vehicle though and I would definitely utilize it be...
by bmay
Wed Dec 18, 2013 10:15 pm
Forum: Investing - Help with Personal Investments
Topic: What next: HSA or taxable?
Replies: 12
Views: 1104

Re: What next: HSA or taxable?

HSA is the best after you have contributed enough to get the company match. HSA contributions are not taxed at all - this includes FICA tax. Withdrawals for eligible healthcare expenses are not taxable. You can also withdraw at age 65 for non-healthcare related expenses without penalty - although i...
by bmay
Wed Dec 18, 2013 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: What next: HSA or taxable?
Replies: 12
Views: 1104

What next: HSA or taxable?

I'm in my early 20s and am earning (and saving) a good amount of money and am wondering what to "move onto" next. Salary: 60k Roth IRA: ~$11,000 (contributing $5,500/yr to VFFVX) 401k: ~$19,000 (contributing $17,500/yr to 80/20 s/b index funds) Emergency fund: 8k "fully funded" (...
by bmay
Sat Mar 30, 2013 10:52 am
Forum: Investing - Help with Personal Investments
Topic: What to do with EE bonds
Replies: 13
Views: 1420

Re: What to do with EE bonds

Peter Foley wrote:Note too that the OP implies that he/she is not taking advantage of company 401k match.


I didn't mean to imply that. I am taking advantage of the 401k match + a little more in the 401k. Also, I am maxing my Roth IRA and paying off the student loans aggressively.
by bmay
Fri Mar 29, 2013 5:10 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with EE bonds
Replies: 13
Views: 1420

Re: What to do with EE bonds

Bonds purchased in 1997 will reach initial maturity after 17 years in 2014. At that point they will be worth double the face value. It would be sheer lunacy to redeem them before this happens, they are earning well over 50% during the 17th year. If you've held any EE bonds for a few years it's best...
by bmay
Thu Mar 28, 2013 10:35 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with EE bonds
Replies: 13
Views: 1420

Re: What to do with EE bonds

You're saying you have EE bonds that are 30+ years old? No. 1990 is the earliest date. If they are really fully matured and not gaining interest, I personally would use the proceeds to purchase more bonds, either I or EE, depending on what you need. edit: well, if you're not maxing out your 401k, I...
by bmay
Thu Mar 28, 2013 9:50 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with EE bonds
Replies: 13
Views: 1420

What to do with EE bonds

Emergency fund: yes Debt: $6,000 @ ~5.5% (student loans) Tax Filing Status: Single Tax Rate: 25% Age: early 20s Desired Asset allocation: age in bonds Retirement Funds: -Roth IRA (~$6,000) - current fund is Franklin Income C. I am in the process of transferring to Vanguard where I will be investing...
by bmay
Mon Mar 25, 2013 9:48 am
Forum: Investing - Help with Personal Investments
Topic: Advice for Mom (real estate/IRA)
Replies: 21
Views: 969

Re: Advice for Mom (real estate/IRA)

I think it makes everyone very nervous that mom, who makes $35k / year, has decided to become a landlord and invest in real estate when there's no other cash or investments. And her loan is $200k on personal income of $35k / year (I think this ratio is important because if my income is $200k and I ...
by bmay
Mon Mar 25, 2013 8:52 am
Forum: Investing - Help with Personal Investments
Topic: Advice for Mom (real estate/IRA)
Replies: 21
Views: 969

Re: Advice for Mom (real estate/IRA)

The credit cards need to be cut up, and ALL income needs to go to paying them off. Maybe I was a little unclear, so I edited my original post - a lot of income is going to paying off those credit cards to minimize interest. Since no routine bills or age of properties are listed, it's hard to judge,...
by bmay
Mon Mar 25, 2013 8:40 am
Forum: Investing - Help with Personal Investments
Topic: Advice for Mom (real estate/IRA)
Replies: 21
Views: 969

Re: Advice for Mom (real estate/IRA)

I don't see how she gets a refinance. [...] As somebody else pointed out, it is amazing she got the initial loans and why is she in the real estate business when she doesn't make any money or is even losing in it. Getting rid of these properties might be a life saver if she can get out intact. She ...
by bmay
Mon Mar 25, 2013 8:25 am
Forum: Investing - Help with Personal Investments
Topic: Advice for Mom (real estate/IRA)
Replies: 21
Views: 969

Re: Advice for Mom (real estate/IRA)

With perfect credit score, she might be able to refinance her home at a better rate. Is she paying PMI? How much equity does she have? What is PMI? Also, there is about $125,000 equity in the house. Unless she is paying more than the minimum on CCs she will take forever and pay a lot of interest be...

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