Search found 25 matches

by lm002e
Fri Oct 27, 2017 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: 457 to Roth or not?
Replies: 7
Views: 518

Re: 457 to Roth or not?

Is this a gov't 457 plan? If so, then there is no age requirement for penalty-free distributions. However, any money in a Roth 457 is subject to the 59.5 age requirement. In my opinion, this is a huge reason in favor the the traditional, tax deferred 457 vs the Roth option.
by lm002e
Mon Aug 14, 2017 9:15 am
Forum: Personal Consumer Issues
Topic: Alternatives/choices with ambulance or rescue squad
Replies: 25
Views: 1380

Re: Alternatives/choices with ambulance or rescue squad

It has been my experience that if you call 911 and the paramedics think you need to go to the hospital they will force you to ride in the ambulance they order to the nearest hospital that they pick. You will not have any choice on the hospital or any choice on transportation mode. So unless you ref...
by lm002e
Sat Jul 01, 2017 9:43 am
Forum: Investing - Help with Personal Investments
Topic: Why bother with IRA's if 457(b)?
Replies: 16
Views: 1416

Re: Why bother with IRA's if 457(b)?

As mentioned, restrictions on rollover/distributions if you leave your job is something to consider. I ended up deciding to max my 457(b), but I think I'll be facing a large tax bill if I change employers. The OP has a governmental 457(b) plan, so he will not be forced to take a lump-sum distributi...
by lm002e
Sat Jul 01, 2017 9:34 am
Forum: Investing - Help with Personal Investments
Topic: High Expense Nationwide 457(b) plans
Replies: 20
Views: 1411

Re: High Expense Nationwide 457(b) plans

Eng Cap, I was thinking about this more today and was wondering if maybe one would have access to *contributions* in a Roth 457 but not any earnings, like in a Roth IRA. Is it your understanding that barring a rollover to a personal IRA, one has access to neither contributions nor earnings prior to...
by lm002e
Fri Jun 30, 2017 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense Nationwide 457(b) plans
Replies: 20
Views: 1411

Re: High Expense Nationwide 457(b) plans

So I actually found another fund from my employer and its an actual "New Hampshire Government 457(b)" put on by the state and I can choose either a tax deferred or a Roth 457(b) option. I'm going with Roth since my income now is lower then it will be down the road. I also noticed some of the funds ...
by lm002e
Fri Jun 30, 2017 8:54 am
Forum: Investing - Help with Personal Investments
Topic: High Expense Nationwide 457(b) plans
Replies: 20
Views: 1411

Re: High Expense Nationwide 457(b) plans

So I actually found another fund from my employer and its an actual "New Hampshire Government 457(b)" put on by the state and I can choose either a tax deferred or a Roth 457(b) option. I'm going with Roth since my income now is lower then it will be down the road. I also noticed some of the funds ...
by lm002e
Fri Jun 30, 2017 8:47 am
Forum: Investing - Help with Personal Investments
Topic: Why bother with IRA's if 457(b)?
Replies: 16
Views: 1416

Re: Why bother with IRA's if 457(b)?

I max out my 457(b) and then max out my Roth IRA if/when there's money left over. The biggest advantage I see in my Roth IRA is the much better selection of funds than in my 457. The biggest advantage to the 457 is that you need only reach "normal retirement age" in order to make penalty-free withdr...
by lm002e
Sun May 15, 2016 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on real estate in Austin, TX
Replies: 3
Views: 759

Thoughts on real estate in Austin, TX

I'd be interested to hear opinions about the current state of real estate in the Austin, TX area. I've been in Austin since 2007 and the real estate market has really heated up since the lows from 6-7 years ago. I hear frequent stories of homes selling in a matter of hours, bidding wars, etc. In fac...
by lm002e
Sun Jun 15, 2014 4:01 pm
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Re: Should I buy time in my gov't pension plan?

What happens if you do not stay with the municipality until retirement? If I leave before I reach full retirement eligibility then I have two options. 1) take a lump sum payout of the money I have contributed to the pension plan but not the money the city has contributed. I currently contribute 8% ...
by lm002e
Sat Jun 14, 2014 1:38 pm
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Re: Should I buy time in my gov't pension plan?

It looks like you are saying that you would need to come up with $81,000 cash from a combination of pretax and after tax money to plunk down right now in order to purchase 5 years service credit. Yes, that's correct. I currently have $52,000 in pretax money and another $30,00 in after tax I am assu...
by lm002e
Fri Jun 13, 2014 7:48 pm
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Re: Should I buy time in my gov't pension plan?

So the consensus seems to be that purchasing the years makes sense. Here is one of my major concerns: since buying the time would pretty much deplete my various cash/mutual funds/etc, I worry that I'd be poorly diversified. Essentially I'd have all my retirement eggs in my employer's pension basket...
by lm002e
Fri Jun 13, 2014 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Re: Should I buy time in my gov't pension plan?

So the consensus seems to be that purchasing the years makes sense. Here is one of my major concerns: since buying the time would pretty much deplete my various cash/mutual funds/etc, I worry that I'd be poorly diversified. Essentially I'd have all my retirement eggs in my employer's pension basket....
by lm002e
Fri Jun 13, 2014 10:59 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Re: Should I buy time in my gov't pension plan?

If your municipality is well funded and on solid footing it makes tons of sense. 23 vs. 28 years of service + 84% of your best 3. .. which typically will include as much OT as you can get. I don't say that in a mean way.... I too have a pension from a municipality and like you, I did not make the r...
by lm002e
Fri Jun 13, 2014 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Re: Should I buy time in my gov't pension plan?

I'm with midareff. 3% of High-3 is a great deal for you, pretty terrible for taxpayers. But you didn't make the rules, so harvest the benefit before they wise up and change the rules...which they will someday because that pension is unsustainable. You're absolutely correct. The pension plan has cha...
by lm002e
Fri Jun 13, 2014 8:11 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy time in my gov't pension plan?
Replies: 24
Views: 2787

Should I buy time in my gov't pension plan?

The details: I work for a municipal gov't that offers a defined benefit pension plan. I will be eligible to retire after 23 years of service and my final pension payout will equal 3% of my highest 3 years' average annual salary for each year that I've worked for the city, ie. after 23 years of servi...
by lm002e
Wed Nov 28, 2012 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Question about becoming a CFP
Replies: 52
Views: 10815

Re: Question about becoming a CFP

. Hi all! I can only assume that a forum such as this has more than its fair share of Certified Financial Planners roaming around. So... I just started taking CFP classes this fall. I really enjoy the subject matter but I have one dilemma: I don't currently work in the financial services industry an...
by lm002e
Wed Nov 28, 2012 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Question about becoming a CFP
Replies: 52
Views: 10815

Re: Question about becoming a CFP

Hi all! I can only assume that a forum such as this has more than its fair share of Certified Financial Planners roaming around. So... I just started taking CFP classes this fall. I really enjoy the subject matter but I have one dilemma: I don't currently work in the financial services industry and...
by lm002e
Mon Nov 26, 2012 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Question about becoming a CFP
Replies: 52
Views: 10815

Question about becoming a CFP

Hi all! I can only assume that a forum such as this has more than its fair share of Certified Financial Planners roaming around. So... I just started taking CFP classes this fall. I really enjoy the subject matter but I have one dilemma: I don't currently work in the financial services industry and ...
by lm002e
Fri Oct 26, 2012 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Decision Time -- Take Lump Sum or Pension -- HELP!!!
Replies: 17
Views: 1613

Re: Decision Time -- Take Lump Sum or Pension -- HELP!!!

Running some numbers:

$675/month @ 6.5% ROI (this number can be debated) will be equivalent to a present value of $135K in 11.3 years (136 monthly payments). Of course, there are other important factors that have already been presented. But it may be helpful to start with the raw numbers.
by lm002e
Mon Oct 01, 2012 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: Texas Real Estate: Rent vs. Buy
Replies: 23
Views: 2780

Re: Texas Real Estate: Rent vs. Buy

I live in Austin, TX and I'm struggling with the same decision. I lean towards buying as hedge against inflation. The austin area rental market is nearly full (~98% occupancy rate) which will most likely mean landlords will be raising the rent in the coming years.
by lm002e
Tue Nov 15, 2011 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Save for downpayment or continue paying off debt?
Replies: 14
Views: 1339

Re: Save for downpayment or continue paying off debt?

I live in Austin, TX and $100K is most likely the low end of the housing market here. There is an outside chance that I could get a home for 50% off through a HUD program called "Good Neighbor Next Door". Unfortunately, there are very few homes that qualify for this program (only 7 listing...
by lm002e
Tue Nov 15, 2011 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Save for downpayment or continue paying off debt?
Replies: 14
Views: 1339

Re: Save for downpayment or continue paying off debt?

If I lose my job prior to putting in 23 years of service (age 53 for me), then I have basically 2 options: 1) cash out all money that I contributed (8% of my gross pay) but I would NOT receive any money that my employer contributed (14% of my gross pay). Obviously a terrible option. 2) at age 65 I w...
by lm002e
Tue Nov 15, 2011 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Save for downpayment or continue paying off debt?
Replies: 14
Views: 1339

Re: Save for downpayment or continue paying off debt?

Thank you for the replies. Here's the rest of the info, sorry I didn't include it initially. Car loan at 4.75%. Student loan at 2.5%. I have $2000 in my emergency fund (still working to increase it). I don't currently have anything saved towards a downpayment but in 6-12 months I could reasonably ex...
by lm002e
Tue Nov 15, 2011 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: To Know or Not To Know
Replies: 7
Views: 934

Re: To Know or Not To Know

'Tis better to know what you don't know, in my opinion. In my profession (paramedic), it's vitally important that I know what I don't know. Frequently patients ask if this or that is potentially harmful, fatal, dangerous, etc, and many times I'm left saying, "I'm not 100% sure but I can take yo...
by lm002e
Tue Nov 15, 2011 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Save for downpayment or continue paying off debt?
Replies: 14
Views: 1339

Save for downpayment or continue paying off debt?

Hi all, My short bio: 34 years old, single, no dependents (well, two cats). Gross income ~ 75K (though this is variable due to how much overtime is available). I'm a gov't employee with a pension on which I'll be able to draw in 19 years (age 53). I'll receive 70% of my salary at that point. I'm als...