Search found 35 matches

by docnews
Thu Apr 20, 2017 10:13 pm
Forum: Investing - Help with Personal Investments
Topic: 401k employer contribution greater than $36k ok?
Replies: 4
Views: 541

Re: 401k employer contribution greater than $36k ok?

Currently 1 job so no complication there. The income needed is a hard formula due to half of self employment taxes removed but should have more than enough to exceed it since I did (sans 2k extra) with 6 months of income last year. Thanks again.
by docnews
Thu Apr 20, 2017 9:45 pm
Forum: Investing - Help with Personal Investments
Topic: 401k employer contribution greater than $36k ok?
Replies: 4
Views: 541

Re: 401k employer contribution greater than $36k ok?

Thanks for the reply! It's for 2017 and for a sole proprietorship (No s corp). So I think you are saying I'll be a okay.
by docnews
Thu Apr 20, 2017 9:20 pm
Forum: Investing - Help with Personal Investments
Topic: 401k employer contribution greater than $36k ok?
Replies: 4
Views: 541

401k employer contribution greater than $36k ok?

So I made a minor error and actually categorized a contribution to my vanguard solo 401k to make the employer amount to be $38k. If I only contribute $16k to the employee elective deferral and have sufficient income, will I be ok? If not, how do I go about recategorizng the $2k?
by docnews
Fri Jul 15, 2016 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Income needed to max out solo401k
Replies: 2
Views: 497

Income needed to max out solo401k

I am someone who can control my income relatively easily by working more or less, so I was trying to find out the amount of income ("profit") needed to allow a total of $53k in employee+employer contributions (not at catch-up age) to an individual 401k as a sole proprietorship by default (...
by docnews
Fri Dec 11, 2015 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Are S corps advantages [outweighed by state taxes in TN]
Replies: 11
Views: 1240

Re: Are S corps advantages [outweighed by state taxes in TN]

Spirit Rider: Thanks for the input! So NH is another state that has no personal income state but basically negates the financial benefits of an s corp for high income people. peterinjapan: You must have a job where your "reasonable salary" is below $100k/yr? For a doctor like me (or likely...
by docnews
Fri Dec 11, 2015 12:08 am
Forum: Personal Finance (Not Investing)
Topic: Are S corps advantages [outweighed by state taxes in TN]
Replies: 11
Views: 1240

Re: Are S corps advantages [outweighed by state taxes in TN]

Randomguy: what is super interesting is TN is a no income tax state. Plus TX has a similar excise tax.
by docnews
Thu Dec 10, 2015 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Are S corps advantages [outweighed by state taxes in TN]
Replies: 11
Views: 1240

Re: Are S corps advantages [outweighed by state taxes in TN]

Vilgan: Do you know what other states are like this? My job is potentially mobile in the future so I was wondering which states it is worth the trouble in. Alex: Thanks for not removing my post. I will be careful to follow the policy in the future. I was more upset at myself for not clearly stating ...
by docnews
Thu Dec 10, 2015 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Are S corps advantages [outweighed by state taxes in TN]
Replies: 11
Views: 1240

Can S corps lead to more taxes in some states?

Thanks for the response! I just don't foresee anyone wanting a single person S corp in TN. Is there anyone out there who has one? I'm also kind of perturbed my subject was changed because this is not just a Tennessee issue. Multiple other states have similar laws ignoring S corps including Texas. I ...
by docnews
Thu Dec 10, 2015 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Are S corps advantages [outweighed by state taxes in TN]
Replies: 11
Views: 1240

Are S corps advantages [outweighed by state taxes in TN]

Here is my situation: new independent contractor physician with about $300k/yr expected income and I was looking into the advantages of incorporating my single person business. From my research an S corporation can save you the medicare tax 2.9% (3.8% at surtax levels) on the amount you dare pay you...
by docnews
Wed May 07, 2014 11:18 pm
Forum: Investing - Theory, News & General
Topic: "The Simplest Wealth Plan Ever"
Replies: 26
Views: 5228

Re: "The Simplest Wealth Plan Ever"

Make it easier to avoid the man in the mirror... Use a Vanguard Target Retirement Fund Then you can forget about splitting the funds in classes (which is harder to do if you have different types of accounts) and you can forget about rebalancing (it's done for you). Two steps are ignored though... Fi...
by docnews
Wed Apr 30, 2014 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Did (will) you pay off your mortgage by retirement?
Replies: 68
Views: 5054

Re: Did (will) you pay off your mortgage by retirement?

I chose "None of the above". I'm not retired and I've never had a mortgage. You never know what the future holds but I'm tentatively not planning on having a mortgage (or buying real estate) before I retire. After I retire, I may buy something at some point, which may or may not involve a...
by docnews
Tue Apr 29, 2014 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Did (will) you pay off your mortgage by retirement?
Replies: 68
Views: 5054

Re: Did (will) you pay off your mortgage by retirement?

I think this poll would be skewed by old interest rates. Anyone who has been retired for a while would have been dumb to keep those high interest loans. But now with people trying to retire earlier (less than 30 working years) and rates being so low, it is more of a realistic consideration.
by docnews
Tue Apr 29, 2014 9:23 am
Forum: Personal Finance (Not Investing)
Topic: True cost of owning a house
Replies: 47
Views: 4344

Re: True cost of owning a house

The numbers are raw and short term (harsh critics abound) but the point remains the same. Buying is not always greater than renting. Main underlying subjective debate: Satisfaction and flexibility to improve your home vs. not having to do any maintenance or yard work. Basically: Time enjoyed vs. Tim...
by docnews
Tue Apr 29, 2014 9:04 am
Forum: Personal Finance (Not Investing)
Topic: How long to pay off your mortgage?
Replies: 66
Views: 16552

Re: How long to pay off your mortgage?

Interesting question. Basically the root of the question is really your remaining principal on your mortgage (with accruable interest) / savings outside tax advantaged accounts if you didn't have a mortgage. (Example: $500k mortgage principal / $40k taxable savings plus housing budget = 12.5 years +...
by docnews
Sat Apr 26, 2014 5:30 pm
Forum: Investing - Theory, News & General
Topic: Please explain a 3% SWR to me
Replies: 92
Views: 24962

Re: Please explain a 3% SWR to me

Cut-Throat, I guess the word I forgot was "after". VPW fails AFTER its chosen length. I like your idea of a modified VPW, but how did you decide 10% was your cap?
by docnews
Sat Apr 26, 2014 4:41 pm
Forum: Investing - Theory, News & General
Topic: Please explain a 3% SWR to me
Replies: 92
Views: 24962

Re: Please explain a 3% SWR to me

Were I to "switch" to 3% for the same level of desired income extracted from my portfolio I would need to work ~5 more years. That's a guaranteed loss of 5 years of retirement (arguably the best years). Those are 5 years when we will be still solidly considered middle aged, kids are gradu...
by docnews
Fri Apr 25, 2014 8:08 am
Forum: Personal Finance (Not Investing)
Topic: How much did I spend? [mortgage question]
Replies: 43
Views: 12689

Re: How much did I spend?

This thread appears to derive from the latest Savings Rate thread? So here's another one for you: let's say I buy $3000 worth of VTSMX (Total Stock Market) in my taxable account this month. How much did I spend? None. Since you have an investment that is easy to liquidate and one in which you will ...
by docnews
Fri Apr 25, 2014 8:03 am
Forum: Personal Finance (Not Investing)
Topic: How much did I spend? [mortgage question]
Replies: 43
Views: 12689

Re: How much did I spend?

This topic is also covered in the topic on what constitutes savings. For those who are strict accountants, principal equals savings and not spending. I argued for those who are trying to calculate savings/spending for long term purposes (ie retirement), it is more honest to not count your primary re...
by docnews
Fri Apr 25, 2014 7:03 am
Forum: Investing - Theory, News & General
Topic: Savings Rate what do you include?
Replies: 69
Views: 7002

Re: Savings Rate what do you include?

Ok currently I'm saving $40 for a dinner with my wife next week. But a true savings rate is money piled up that is not already allocated to be used this year and is to be used in years to come. And my subjective ("what do YOU include") argument is that people usually keep funds already spe...
by docnews
Thu Apr 24, 2014 3:44 pm
Forum: Investing - Theory, News & General
Topic: Savings Rate what do you include?
Replies: 69
Views: 7002

Re: Savings Rate what do you include?

Very good points. But I still think most people will want the same value of housing in retirement. Selling a larger home to buy a nicer smaller one is common so I still wouldn't advise people counting their primary residence as a "savings". Raiding one's housing equity is a last resort.
by docnews
Thu Apr 24, 2014 2:17 pm
Forum: Investing - Theory, News & General
Topic: Savings Rate what do you include?
Replies: 69
Views: 7002

Re: Savings Rate what do you include?

I agree there can be varying legitimate ways to calculate the savings rate. My goal in determining how much to save/invest has always been to try to reproduce an income stream in retirement that matches my income in my last few years of employment. That's also where I think those rules of thumb abo...
by docnews
Thu Apr 24, 2014 12:08 pm
Forum: Investing - Theory, News & General
Topic: Please explain a 3% SWR to me
Replies: 92
Views: 24962

Re: Please explain a 3% SWR to me

The problem with all of the SWR calculations is that they are trying to take a statistical calculation of the location of a point on the tail of a random distribution curve and apply it to a specific case. It will not make you happy if 97.8% of the people who have used a 4% inflation adjusted withd...
by docnews
Thu Apr 24, 2014 12:01 pm
Forum: Investing - Theory, News & General
Topic: Please explain a 3% SWR to me
Replies: 92
Views: 24962

Re: Please explain a 3% SWR to me

Use VPW and you can probably spend a lot more than 4% and if we do run into a bad market, it cannot fail. (Copied from http://www.bogleheads.org/forum/viewtopic.php?f=10&t=126639&p=2038210#p2038210 ) If one wishes a 100% success rate for not depleting a portfolio in less nor more than 35 ye...
by docnews
Thu Apr 24, 2014 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Newbie considering Vanguard Target fund
Replies: 6
Views: 1509

Re: Newbie considering Vanguard Target fund

Nisiprius, thanks for your reply. Even though my schooling has been complex, I'm amazed that the simplest solution is usually not only sufficient but the best. I'm so happy that Mr. Bogle through seeming to use complexity ("buying the market") is offering increasing supreme simplicity. Sta...
by docnews
Thu Apr 24, 2014 6:26 am
Forum: Personal Finance (Not Investing)
Topic: Can you please convince me to get a credit card?
Replies: 101
Views: 98909

Re: Can you please convince me to get a credit card?

Some great points have already been made but I thought I'd add my two cents. In my humble opinion credit cards have enough benefits to make it worth it BUT the most important thing is to UNDERSTAND the credit card and for most if you can't use automatic payments all the cash back offerings are not w...
by docnews
Wed Apr 23, 2014 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: What's your number?
Replies: 147
Views: 34625

Re: What's your number?

The above response by Docnews is certainly interesting - the number of variables and assumptions that are involved in trying to forecast a retirement need that's maybe 30 years away is large - but let's assume for a moment that we can do it accurately and come up with "our number" - the n...
by docnews
Wed Apr 23, 2014 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Why a million may not be enough
Replies: 33
Views: 7185

Re: Why a million may not be enough

I think $1 million in today's dollars with paid for house fits my needs. At 4% withdrawal rate for 30 years, $40k is what I live well on now if I didn't have to pay rent/mortgage. Plus then I'd have the SS bonus. It's all relative to your standard of living like the article points out and whether yo...
by docnews
Wed Apr 23, 2014 9:12 am
Forum: Personal Finance (Not Investing)
Topic: What's your number?
Replies: 147
Views: 34625

Re: What's your number?

I've seen all the clever commercials , Fidelity's green path and "the number" - but if you've been keeping yourself informed over the last several years by simply reading the newspaper the topic that comes up over and over is "American's dismal savings rate" on average - I think...
by docnews
Wed Apr 23, 2014 8:53 am
Forum: Investing - Theory, News & General
Topic: The reverse world of retirement investing
Replies: 34
Views: 5696

Re: The reverse world of retirement investing

He hasn't suffered a portfolio failure yet. If he retired at age 67 he's at a life expectancy now at 81 in the single digits so he may not have one. Social security and possibly a pension may cover his basic expenses and he won't be doing nearly as much at age 81+ as he was at 67-81. i certainly wo...
by docnews
Wed Apr 23, 2014 8:12 am
Forum: Personal Finance (Not Investing)
Topic: POLL: why carry cash?
Replies: 243
Views: 20654

Re: POLL: why carry cash?

Back to the question. Why carry cash? (in no particular order) 1) Most vending machines accept only cash. 2) Most local merchants (bakery, panaderia, etc.) accept only cash on small purchases. 3) Most low cost grocery options - Aldi, UGO, Woodmans - do not accept credit cards. I refuse to pass up o...
by docnews
Wed Apr 23, 2014 7:39 am
Forum: Personal Finance (Not Investing)
Topic: POLL: why carry cash?
Replies: 243
Views: 20654

Re: POLL: why carry cash?

Sorry, I didn't read the thread. But was this posted yet? m Has anyone done a study on how dirty my credit cards are though? By swiping I bet they touch multiple more hands (think about how many dirty cards have swiped before it). Not a druggy myself but in the movies a card is used to make a line ...
by docnews
Wed Apr 23, 2014 7:32 am
Forum: Personal Finance (Not Investing)
Topic: POLL: why carry cash?
Replies: 243
Views: 20654

Re: POLL: why carry cash?

I consider carrying over $100 in my wallet risky, but my father-in-law considers not carrying over $100 risky. I personally cannot recall anytime I couldn't get a necessity due to no cash on hand. In fact not having cash on hand makes me less likely to make an impulse purchase because I more easily ...
by docnews
Wed Apr 23, 2014 6:49 am
Forum: Personal Finance (Not Investing)
Topic: What's your number?
Replies: 147
Views: 34625

Re: What's your number?

Defining conservative ROI is the name of this number game. I'm a doctor in training so my sizeable savings will be from age 30 to 50. After 20 work years with 20% savings ($40k) = $1 million if conservative 3% real ROI = $40k/year with a 4% withdrawal rate that could sustain me from age 62-92 with a...
by docnews
Wed Apr 23, 2014 6:37 am
Forum: Investing - Help with Personal Investments
Topic: Newbie considering Vanguard Target fund
Replies: 6
Views: 1509

Re: Newbie considering Vanguard Target fund

Thanks zup28w for the reply! I guess the "lets me manage" is the risk Target funds remove. You say that you are "almost" to 3 fund portfolio. Isn't it so much easier to just buy 1 fund then balance 3 in several accounts? Also don't all the tax advantages go away if you are alread...
by docnews
Tue Apr 22, 2014 9:48 am
Forum: Investing - Help with Personal Investments
Topic: Newbie considering Vanguard Target fund
Replies: 6
Views: 1509

Newbie considering Vanguard Target fund

Newbie - converted boglehead after being educated by following the whitecoatinvestor - who has a pent-up mega-post to introduce himself: Emergency Fund: none (very stable job + $62k in Roth IRA contributions + $3-5k in checking account) Debt: Med school loans $148k at 6.5% in IBR ($26/day of interes...