Search found 470 matches

by icefr
Thu May 26, 2016 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Visa rewards card question
Replies: 23
Views: 1302

Re: Fidelity Visa rewards card question

Thanks everyone for the feedback. Looks like I'll be applying for the card this week. One follow up question, can you set up the rewards dollars to automatically credit the Fidelity cash management account? Theoretically, yes. I've set that up, but have never seen an automated transfer. I've waited...
by icefr
Mon May 23, 2016 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: New 401K, no ROTH 401K option. What to do with my old ROTH 401K?
Replies: 3
Views: 318

Re: New 401K, no ROTH 401K option. What to do with my old ROTH 401K?

I vote for C as well. Part of my old 401(k) was Roth and part traditional and my new employer's 401(k) had a Roth option, but I chose to roll the Roth 401(k) portion over to my Roth IRA and the pre-tax portion over to my new 401(k). I actually think this was the simplest choice because then I don't ...
by icefr
Sun May 22, 2016 2:22 pm
Forum: Investing - Help with Personal Investments
Topic: 401k and backdoor roth after ceasing employment?
Replies: 14
Views: 907

Re: 401k and backdoor roth after ceasing employment?

In regards to fees after leaving the employer...I presume (so I really do not know.. perhaps someone else does) that after leaving an employer, if you stay in the 401 K plan, the fees will be paid the same as before... if the employer paid the fees, I would hope your having left the company does no...
by icefr
Thu May 19, 2016 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: 401k and backdoor roth after ceasing employment?
Replies: 14
Views: 907

Re: 401k and backdoor roth after ceasing employment?

as long as she directly rolls over the 401k into a rollover IRA, it will have no impact on current year IRA contribution. That is not correct. If she rolls over the 401(k) into a Rollover IRA, her $5,500 conversion from her non-deductible Traditional IRA to her Roth IRA will now be partially taxable.
by icefr
Thu May 19, 2016 3:55 pm
Forum: Investing - Help with Personal Investments
Topic: 401k and backdoor roth after ceasing employment?
Replies: 14
Views: 907

Re: 401k and backdoor roth after ceasing employment?

If her 401(k) balance is over $5,000, her employer has to let her keep her money in there. If you will be over the Roth income contribution limit in 2016, I would leave her 401(k) where it is until 2017 because of the complications with your 2016 Backdoor Roth IRA. If you are confident you will be ...
by icefr
Thu May 19, 2016 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: 401k and backdoor roth after ceasing employment?
Replies: 14
Views: 907

Re: 401k and backdoor roth after ceasing employment?

If her 401(k) balance is over $5,000, her employer has to let her keep her money in there. If you will be over the Roth income contribution limit in 2016, I would leave her 401(k) where it is until 2017 because of the complications with your 2016 Backdoor Roth IRA. If you are confident you will be u...
by icefr
Wed May 18, 2016 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Financing a move from one house to another
Replies: 29
Views: 1797

Re: Financing a move from one house to another

I've never done this, but could you open a HELOC on the current house and use that to fund the new house?
by icefr
Mon May 16, 2016 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: High Earner $150k/yr. Single VS Married with Kids Take Home Salary??? Help!
Replies: 40
Views: 4335

Re: High Earner $150k/yr. Single VS Married with Kids Take Home Salary??? Help!

Play your taxes right and you should not have to pay any Federal income taxes with only $150K of income. This is where knowledge of tax laws and filling our your own income tax forms can really pay off over the years. Actually I would like to know the secret of this too assuming the 150 is all sing...
by icefr
Fri May 13, 2016 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth VS. Taxable For Young Couple
Replies: 9
Views: 836

Re: Mega Back Door Roth VS. Taxable For Young Couple

I ran some numbers on this and it seemed like the MBD won out over taxable if I retired in my mid-forties or later, but if I retired before my mid-forties, the earnings on that money was inaccessible and the earnings on my Roth money will be huge in a couple decades if I did the MBD every year. I've...
by icefr
Fri May 13, 2016 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: paid off mortgage...what happens next?
Replies: 19
Views: 3145

Re: paid off mortgage...what happens next?

rightdecisions wrote:This one was $400k in 5 years. No small feat.


Congrats!!! That's an exciting accomplishment! :sharebeer
by icefr
Thu May 12, 2016 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Prenup, middle age couple no children
Replies: 22
Views: 3251

Re: Prenup, middle age couple no children

It sounds like your $1M is separate property as is her $300k, but my guess is her pension and SS would by default be community property. If I were her, I would want a prenup to stipulate the pension and SS to be separate property and that would make things more "equal".
by icefr
Thu May 12, 2016 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Canadian inheritance tax
Replies: 2
Views: 1129

Re: Canadian inheritance tax

I'm also curious about this, though I'm not a US citizen and I will likely inherit much more than that from my parents. My understanding is that there is no estate tax on the Canadian side based on the inheritances that my parents have received, but I would really consider consulting a cross-border ...
by icefr
Fri May 06, 2016 9:17 am
Forum: Investing - Help with Personal Investments
Topic: 26 y/o with ~$175,000 inheritence
Replies: 37
Views: 6045

Re: 26 y/o with ~$175,000 inheritence

I'm sorry for your loss. Paying off the student loans was a great plan. If things are serious with your girlfriend, I would consider holding off on buying a place until you two can have input on the place you choose together. Are you maxing out your 401(k) and Roth IRA? I would do that, if needed fr...
by icefr
Wed Apr 27, 2016 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Are females just not interested in investing in general or is it just the women that I date?
Replies: 89
Views: 9770

Re: Are females just not interested in investing in general or is it just the women that I date?

Just FYI I am a 27 year old female who is a saver and has maxed out her 401(k) for six years now. I'm definitely an anomaly among my friends, regardless of gender. An interesting exercise for you and your girlfriend might be to compare each of your overall spending for the year. When my boyfriend an...
by icefr
Wed Apr 27, 2016 3:18 pm
Forum: Investing - Help with Personal Investments
Topic: Pay down student loans vs maximize investments
Replies: 13
Views: 999

Re: Pay down student loans vs maximize investments

I would consider opening up an Ally savings account for a "wife's student loans fund" and put any money you would like to use to prioritize her student loans for once you are married in there. Then, once you're married, you can figure out a strategy and throw the money at them.
by icefr
Tue Apr 26, 2016 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP vs. Traditional Plan: Math Problem
Replies: 12
Views: 856

Re: HDHP vs. Traditional Plan: Math Problem

I've seen this before. The HDHP's premiums are $3,000 cheaper so if you have no health costs, it's cheaper. And then once you've met the deductible (i.e. had $3,000 in medical costs), the coinsurance on the HDHP is cheaper than the coinsurance on the PPO. $8,050 is the total OOP max with HDHP (premi...
by icefr
Wed Apr 20, 2016 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance along with Student Loans
Replies: 14
Views: 1077

Re: Mortgage Refinance along with Student Loans

Will you move when you finish residency? If so, I wouldn't be refinancing the mortgage. If you didn't refinance the student loans, how long would it take you to pay them off aggressively? How much interest would you pay over that time period? For example, if you took your entire increase in salary p...
by icefr
Tue Apr 19, 2016 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: What's a reasonable mortgage amount for me?
Replies: 11
Views: 1768

Re: What's a reasonable mortgage amount for me?

I agree with the other posters. You have $900k in taxable, $220k in equity in your current house and you're trying to buy a $510k house. I would take the equity from your current house, sell $290k from your portfolio and now you have the new house with no mortgage. Then you just invest the amount yo...
by icefr
Tue Apr 19, 2016 6:51 pm
Forum: Investing - Help with Personal Investments
Topic: Roth 401k contribution affect earned income for Roth IRA?
Replies: 9
Views: 586

Re: Roth 401k contribution affect earned income for Roth IRA?

Yes, except that you're now past the tax filing deadline for 2015, so you can no longer contribute to an IRA for 2015. That was yesterday.
by icefr
Fri Apr 15, 2016 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can I subtract UNsold ESPPs from my ordinary income?
Replies: 14
Views: 894

Re: Can I subtract UNsold ESPPs from my ordinary income?

Thanks. You are right, $8.50 is after-tax money and is already in my W-2. However, $1.5 will be reported to my W-2 if I sell ESPPs within 18 months (disqualifying disposition) and I would have to claim the difference between $10 and the sale price as a short-term capital gain/loss. If I sell ESPPs ...
by icefr
Fri Apr 15, 2016 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Clarification needed on Mega backdoor Roth
Replies: 4
Views: 585

Re: Clarification needed on Mega backdoor Roth

My employer keeps the pre-tax and after-tax funds in different accounts, which is what allows this to happen with no pro-rata rule.
by icefr
Wed Apr 13, 2016 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: 28 year old, saving too much for retirement?
Replies: 19
Views: 3678

Re: 28 year old, saving too much for retirement?

I'm also 28 years old. I don't live in NYC - in a lower, but still high cost of living city. My income is a little lower than yours (I'm in the 28% tax bracket) and I save a little bit less per year. My net worth is about $700k including my condo equity, cash, and investments - I've been saving aggr...
by icefr
Tue Apr 12, 2016 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Offer
Replies: 18
Views: 1470

Re: Refinance Offer

They want to keep your business and know that you could refinance elsewhere.
by icefr
Mon Apr 11, 2016 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Migrate Spouse's HSA? To Where?
Replies: 6
Views: 563

Re: Migrate Spouse's HSA? To Where?

I would look for a credit union that pays interest on HSA money, e.g. Lake Michigan, First Tech Federal, Alliant, etc. and then transfer her money there to avoid the fees. And then just count that as part of your fixed income allocation.

viewtopic.php?f=2&t=176270
by icefr
Mon Apr 11, 2016 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Best Way to Transition Insurance (Baby on the way)
Replies: 7
Views: 447

Re: Best Way to Transition Insurance (Baby on the way)

Have you checked out your state's marketplace for May 1st start? That's what I would be doing.
by icefr
Mon Apr 11, 2016 2:58 pm
Forum: Investing - Help with Personal Investments
Topic: What next? Cash or retirement?
Replies: 13
Views: 1881

Re: What next? Cash or retirement?

First, any cash you're saving should be directed at the Ally savings account rather than your bank account that yields only 0.01% - that's a 100x return there :happy Any money that is for the house down payment should be kept in cash if you plan to buy a house within the next 3-5 years. I would also...
by icefr
Fri Apr 08, 2016 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: I Forgot to Convert My Backdoor Roth - Now What?
Replies: 13
Views: 1532

Re: I Forgot to Convert My Backdoor Roth - Now What?

If you don't like your current 401(k), I would just leave the Rollover IRA and undeducted Traditional IRA money where they are, invest the Traditional IRA money in bonds, and then if you have a 401(k) you like more in the future, roll the Rollover IRA money in there and convert the Traditional IRA m...
by icefr
Fri Apr 08, 2016 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: PPO vs. HDHP/HSA Spreadsheet
Replies: 9
Views: 637

Re: PPO vs. HDHP/HSA Spreadsheet

Since you can make a new decision for your health insurance plan every year, it doesn't make sense to make the decision based on cumulative cash flow. I would make the decision that is best for the coming year with the information that you have each year.
by icefr
Thu Apr 07, 2016 6:25 pm
Forum: Investing - Help with Personal Investments
Topic: mega backdoor - Roth IRA vs Roth 401k
Replies: 3
Views: 440

Re: mega backdoor - Roth IRA vs Roth 401k

bearpaws wrote:following up from my previous question...

I understand the total defined contribution limit is 53k/year via the mega backdoor roth conversion. If I max that out, is it possible to add another 5,500 through the "regular" backdoor Roth method?

Thanks!


Yes. I do both.
by icefr
Tue Apr 05, 2016 5:59 pm
Forum: Investing - Help with Personal Investments
Topic: 401(k) Changing, Options Limited
Replies: 4
Views: 412

Re: 401(k) Changing, Options Limited

Hey all, New to the site but I really feel like I’ve come upon a gold mine of investing knowledge here, you all are awesome. I’m halfway through Common Sense Investing and I’m sold. I’m currently invested in an array of funds, some index funds but mostly actively managed funds (learning the err of ...
by icefr
Tue Apr 05, 2016 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance now or Wait for rate adjustment
Replies: 21
Views: 1940

Re: Refinance now or Wait for rate adjustment

I vote for Scenario B because that $500 fee is huge with the amount of interest that you have left to pay - it's actually more than the interest differential over six months of 3.75% vs 3% on $40,000. I would say that with you having taxable investments greater than the mortgage, there are two optio...
by icefr
Mon Apr 04, 2016 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: back door Roth with existing rollover IRA
Replies: 15
Views: 880

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? Yearly so long as you have basis in the Traditional IRAs. If say in 2015 you did a non-deductible Traditional IRA contribution AND converted it to Roth IRA in the same year, th...
by icefr
Mon Apr 04, 2016 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: back door Roth with existing rollover IRA
Replies: 15
Views: 880

Re: back door Roth with existing rollover IRA

thank you. just to clarify by the action example. prior to april, 18 2016 (this year) I contribute post-tax dollars to traditional IRA 5,500 (I am less than 50 yo) for year 2015. in june-july 2016 my rollover IRA is getting moved to job 401K and has zero balance afterwards. My Traditional and Rollo...
by icefr
Fri Apr 01, 2016 11:50 pm
Forum: Personal Consumer Issues
Topic: Is Nexus the cheap way to get both TSApreCheck and Global Crossing?
Replies: 6
Views: 875

Re: Is Nexus the cheap way to get both TSApreCheck and Global Crossing?

Yes. You need to go for an interview at a Nexus center and those are only near the Canadian border. And the waits for interviews can be long.
by icefr
Thu Mar 31, 2016 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: Review our retirement plans - 28/24 yr olds in a relationship
Replies: 25
Views: 2675

Re: Review our retirement plans - 28/24 yr olds in a relationship

Here's what I'm thinking (will she incur any gains taxes if we move brokerages?): Assuming now, move her entire taxable account over to Fidelity: FXSIX Spartan 500: 70% FIBAX Treasury Bond: 20% FDIKX Large Growth International: 10% ??? I want to put 10% in International but I can't find a Fidelity ...
by icefr
Tue Mar 29, 2016 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: Question about sold investments and moving them to retirement account
Replies: 2
Views: 260

Re: Question about sold investments and moving them to retirement account

I would do that. I would investigate whether one 401(k) has better options than the other and if so, to prioritize that one. You'll also want to be careful that you don't contribute more than 18k total between the two plans this year.
by icefr
Tue Mar 29, 2016 12:42 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Question - Patchwork Quilt of Investments - Please, help me reduce expenses and simplify!
Replies: 12
Views: 795

Re: Portfolio Question - Patchwork Quilt of Investments - Please, help me reduce expenses and simplify!

Regarding the RSU/ESPPs. We're almost to the point where we can start selling some of the ESPP shares as a qualified disposition. Although, I wonder if in our tax bracket it matters as much, as long-term capital gains is still 15%. I will add another question to the original post. 6. Should anythin...
by icefr
Mon Mar 28, 2016 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable account question - paying off student loans
Replies: 3
Views: 257

Re: Taxable account question - paying off student loans

I'm not super familiar with that part of the tax code, but I think you have the cost basis as if you had bought the shares even though your parents had. You will then pay long-term capital gains on the increase from the cost basis. The advisor should be able to help you with figuring out the cost ba...
by icefr
Mon Mar 28, 2016 4:07 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable account question - paying off student loans
Replies: 3
Views: 257

Re: Taxable account question - paying off student loans

I would just cash in the mutual fund from your parents now and send it to the balance of your student loans. I'm sure your parents would be happy to see you use their mutual fund money to pay off your student loans. In any non stock investments that are good for the short-term, you can't really expe...
by icefr
Mon Mar 28, 2016 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: When to start prepaying an adjustable rate mortgage?
Replies: 6
Views: 864

Re: When to start prepaying an adjustable rate mortgage?

One interesting thing to note about adjustable rate mortgages is that making extra payments doesn't reduce the amortization of the mortgage. When your rate resets, the lender generally recalculates the required payment with the new interest rate over the remaining length of time (e.g. 25 years on a ...
by icefr
Sun Mar 27, 2016 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Who should I set as my beneficiaries - Single, No kids
Replies: 23
Views: 2277

Re: Who should I set as my beneficiaries - Single, No kids

Similar situation, age and SO. Mine are set to my parents each at 50% as primary beneficiaries and my sibling as the 100% secondary beneficiary. I do have a will. If I'm not married at 30, I plan to write a new will that gives my parents and sibling each $300k before donating the rest to charity.
by icefr
Fri Mar 25, 2016 6:29 pm
Forum: Investing - Help with Personal Investments
Topic: Large Inheritance...Do I need to worry about retirement?
Replies: 69
Views: 8913

Re: Large Inheritance...Do I need to worry about retirement?

You might look for ways to lower taxes as well. I was specifically thinking of a charitable trust at Vanguard or Fidelity, set up in a year you plan to sell off funds, and donating funds to this, meanwhile deducting when you itemize taxes. You could direct funds over the years. This is of course, o...
by icefr
Fri Mar 25, 2016 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Investing strategy for inheritance
Replies: 6
Views: 870

Re: Investing strategy for inheritance

You've already commingled it with funding your joint emergency savings account, paying off joint debts, putting funds into your husband's Roth, and creating a joint dream fund, so your husband's TSP isn't the end of the world. If it were my inheritance, I would have probably parked it in a taxable a...
by icefr
Fri Mar 25, 2016 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: First-Time Mega BackDoor Roth Questions
Replies: 7
Views: 814

Re: First-Time Mega BackDoor Roth Questions

These could be dumb questions but I've not done this before. My company allows me to put money in after-tax and then roll it over to a Roth IRA four times a year. The money is placed in a stable value fund so there is not that much taxable earnings. I can do it through an online form which asks for...
by icefr
Fri Mar 25, 2016 12:30 pm
Forum: Investing - Help with Personal Investments
Topic: Combining goals, down payment and retirement
Replies: 2
Views: 277

Re: Combining goals, down payment and retirement

How big is your retirement portfolio ignoring this future down payment money?
by icefr
Fri Mar 25, 2016 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: Help with 401k rollover and investments
Replies: 2
Views: 251

Re: Help with 401k rollover and investments

The answer to 1) is yes, if you can. I would contact your 401(k) plan provider and ask if you can roll your Traditional IRA into the 401(k) plan. They may care if it is a Rollover IRA or a Traditional IRA or if you've made non-401(k) contributions to it. As for 2), what are you currently invested in...
by icefr
Thu Mar 24, 2016 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: How would you prioritize these investments?
Replies: 14
Views: 860

Re: How would you prioritize these investments?

How much can you afford to put toward a combination of these goals each year? For example, if you prioritize the SIMPLE IRAs, that only costs you $18,750 in after-tax income vs the $25,000 that goes into them, so if you do that goal, you still have $6,250 of the $25,000 you might instinctively budge...
by icefr
Wed Mar 23, 2016 6:48 pm
Forum: Investing - Help with Personal Investments
Topic: How would you prioritize these investments?
Replies: 14
Views: 860

Re: How would you prioritize these investments?

You're missing: 6. Taxable investments If you are in the 28% tax bracket or higher, I would do them in this order: 2. SIMPLE IRA ($12,500 per year x2) 1. Roth IRA ($5,500 x2) 5. General savings for vacations and home remodeling projects ($30k) And then it's personal preference between: 6. Taxable in...
by icefr
Wed Mar 23, 2016 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: student loan pay off redux
Replies: 8
Views: 844

Re: student loan pay off redux

How much slower would you pay off your student loans if you max out your tax deferred space? Yes, it's $95k of student loans, but it's a 3.5% interest rate, so it is a hard sell in my opinion to pay off the student loans before saving 28% in federal income taxes by maxing out tax deferred space. How...
by icefr
Mon Mar 21, 2016 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question--using adjusted cost basis on supplemental info sheet
Replies: 9
Views: 652

Re: Tax question--using adjusted cost basis on supplemental info sheet

Hi all, I met with my accountant last week to do my taxes, but after speaking to a few coworkers my husband is wondering if we made a mistake and need to adjust before we mail the forms to the IRS. We sold stock last year (combo of ESPP, options, and RSUs). On form 8949 (Sales and Other Disposition...

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