Search found 56 matches

by multiham
Thu May 18, 2017 6:08 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth with Schwab
Replies: 4
Views: 286

Re: Backdoor Roth with Schwab

Thank you! I was confused when she said that Schwab was going to withhold taxes.

I believe I can do $6,500 in total since I am 51. If I do the $6,500 over 3 transactions this year, do I have to file 3 form 8606's or can I consolidate all 3 transactions onto one form 8606?
by multiham
Thu May 18, 2017 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth with Schwab
Replies: 4
Views: 286

Backdoor Roth with Schwab

Little nervous after my transaction today. Looking to make sure I did not screw anything up I opened an IRA at Schwab last week. I have no other TIRA's, but do have a small Roth IRA from a while ago. Placed $2,000 into the IRA today via a transfer from my linked Schwab bank account. Money is instant...
by multiham
Sun May 14, 2017 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: Pre-retirement Advice Requested
Replies: 18
Views: 1554

Re: Pre-retirement Advice Requested

I know I am in the minority here, but you are about to make 1 of the top 3 or 4 decisions in your life when you retire and how you go about the financial transition. Here is what I would do: 1. Write down exactly what you want to accomplish with the CFP 2. Explain to the CFP that you are not looking...
by multiham
Sat May 06, 2017 10:55 am
Forum: Investing - Help with Personal Investments
Topic: Validate 529 Planning
Replies: 1
Views: 193

Validate 529 Planning

Looking for some thoughts on my 529 Plan I've been funding my kids plans at low levels since they were born. Here are my facts and current thought: 52 years old looking to retire in 5 years Fully fund my 401K and now funding Taxable IRA to do Backdoor Roth for 2017 On track for my retirement plan 2 ...
by multiham
Mon May 01, 2017 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Multiple Times During Year
Replies: 4
Views: 570

Backdoor Roth Multiple Times During Year

My MAGI is too high to make a Roth contribution. I max out my 401K at work. I am over 50 and have no IRA's accept for a small Roth I funded many years ago. Can I do the following and if so, what tax paperwork do I need to fill out in 2017? 1. In June, open a taxable IRA and fund it with $3,000. 2. A...
by multiham
Wed Apr 26, 2017 1:12 pm
Forum: Personal Consumer Issues
Topic: Porsche Lease
Replies: 56
Views: 4112

Re: Porsche Lease

Love the Boxster! Here are some of my thoughts. 1. Shop around for the best lease you can get. The Porsche dealer near my house is not willing to negotiate much off sticker price as he tells me that people walk in with cash everyday and purchase at sticker. There is another dealer that is willing to...
by multiham
Tue Apr 25, 2017 7:15 pm
Forum: Investing - Help with Personal Investments
Topic: How do I choose and Financial Planner and what can I expect?
Replies: 16
Views: 1550

Re: How do I choose and Financial Planner and what can I expect?

You CAN find a certified financial planner that will develop a plan and help you implement it with either the options you currently have or options that you are interested in. Find some local CFP's and spend some time on the phone or through an initial meeting interviewing them. I talked to about 5 ...
by multiham
Tue Apr 25, 2017 6:55 pm
Forum: Personal Consumer Issues
Topic: New job and offer - recruiter sent a wrong $$
Replies: 43
Views: 4966

Re: New job and offer - recruiter sent a wrong $$

Whatever decision you end up making, do not burn any bridges at the company who you interviewed with. You never know when you will run into that person again. Someone from that company may end up being your boss one day and you do not need them to have/have heard negative comments about you. If you ...
by multiham
Sun Apr 23, 2017 5:40 pm
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 2024

Re: value of stock options

Thank you for all the replies. I spent a few hours over the last few nights developing a tax estimator in Excel. I now have a very good idea of how much I can exercise and stay in the 28% tax bracket (will leave some cushion for unforeseen income) this year. Now have plan put together to exercise ov...
by multiham
Sun Apr 23, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 19652

Re: Any regrets living a frugal life for high income/high networth individuals?

I'm a planner by nature. My goal is to properly invest enough $ each year that I'm working to allow my wife and I to have a very comfortable retirement without worrying where the next $ will come from. Once I have that covered, I am good with us spending our money. Both our cars are from 2016 and ha...
by multiham
Sun Apr 23, 2017 4:25 pm
Forum: Investing - Help with Personal Investments
Topic: Is robo for me?
Replies: 31
Views: 2476

Re: Is robo for me?

I have set-up an appointment with Schwab for next Saturday to review their Intelligent Advisory Program. Most of my non 401K assets are already at Schwab. If I like what I hear, I plan to start with about $30,000. Here is why it makes sense for ME: 1. The fee (.28%) will be less than $100 for the ye...
by multiham
Wed Apr 19, 2017 8:07 pm
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 2024

Re: value of stock options

Thank you everyone for the replies! One thing I'm really good at is never looking back and saying what if. When I decide to do something, it means I have weighed all the factors and decided that my move is the right option at that time. No reason to look back and say what if. I will however learn fr...
by multiham
Wed Apr 19, 2017 8:02 pm
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 2024

Re: value of stock options

1. Are these Incentive Stock Options or are they Non-Qualified Stock Options? 2. How far in the money are they? What is the strike price and what is the current market price of the stock? 3. What is the implied volatility of options? Or failing that what is the historical volatility of the equity? ...
by multiham
Sun Apr 16, 2017 6:33 pm
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 2024

Re: value of stock options

Thank you everyone for the help and advice. I am anywhere from 3 to 7 years from retirement. I have no plans on leaving the company. My plan was to wait until at least 2018 to exercise and sell. Just wasn't sure if that was a great idea given that I've read a lot about not having too many investment...
by multiham
Sun Apr 16, 2017 11:02 am
Forum: Investing - Theory, News & General
Topic: value of stock options
Replies: 30
Views: 2024

value of stock options

I am lucky enough to have some stock options from the megacorp I work for. I most likely will not be getting anymore as they have changed the requirements to be eligible for options to a level I most likely will not make. The 2 lots of options I have expire in 2019 and 2020. When I first got them in...
by multiham
Mon Mar 27, 2017 7:19 pm
Forum: Investing - Help with Personal Investments
Topic: Consolidating IRAs Question
Replies: 8
Views: 592

Re: Consolidating IRAs Question

Not sure if they separate brokerage and mutual fund accounts. However, what is really strange is one of my rollover IRA's contains non Fidelity mutual funds.
by multiham
Mon Mar 27, 2017 6:23 pm
Forum: Investing - Help with Personal Investments
Topic: Consolidating IRAs Question
Replies: 8
Views: 592

Re: Consolidating IRAs Question

Just got off the phone with Fidelity and now I'm really confused. They are telling me that if I consolidate into one of my rollover IRA's that I can only have Fidelity funds in that account. If I consolidate into my Traditional IRA, I can have any funds in there. Does this make sense? I'm planning t...
by multiham
Sun Mar 26, 2017 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: Keep JNJ or invest everything in index funds?
Replies: 18
Views: 1240

Re: Keep JNJ or invest everything in index funds?

You are going to have a large amount of Long Term Capital Gains. Split adjusted purchase price back in 1997 is going to be in the 30's. With today's price of $125+ per share, you will have a roughly $90 per share capital gain on the initial purchase shares. I know taxes should never be the deciding ...
by multiham
Sat Mar 25, 2017 6:20 pm
Forum: Investing - Help with Personal Investments
Topic: Advisor suggested this - Good idea?
Replies: 41
Views: 2736

Re: Advisor suggested this - Good idea?

Apologize if I missed this posted somewhere else in the thread. Why not get the remodel work done now? You have the $ you need for it right now. In this environment of uncertainty and potential inflation, the cost in 2 to 3 years could easily be $80,000 plus. I know I am also in the minority on the ...
by multiham
Mon Mar 20, 2017 8:19 pm
Forum: Investing - Help with Personal Investments
Topic: Consolidating IRAs Question
Replies: 8
Views: 592

Re: Consolidating IRAs Question

Thank you!
by multiham
Mon Mar 20, 2017 4:49 pm
Forum: Investing - Help with Personal Investments
Topic: Consolidating IRAs Question
Replies: 8
Views: 592

Consolidating IRAs Question

My wife has the following 4 IRA accounts at Fidelity. Rollover IRA Traditional IRA Rollover IRA Roth IRA Is there any disadvantage to combining the 2 Rollover and one Traditional IRA into 1 account? Does it matter which account I combine them into (In other words should I move the 2 Rollover IRA's i...
by multiham
Sat Mar 18, 2017 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds
Replies: 8
Views: 561

Re: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds

I don't think you need to put any bond funds in your taxable account at all, so no need for tax-exempt muni bond funds. I don't think it will matter which fixed income fund(s) you choose to use. You can use the two funds in your 401(k) and/or you can chose some Vanguard funds in the IRAs. You canno...
by multiham
Sat Mar 18, 2017 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds
Replies: 8
Views: 561

Re: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds

The most safety is pretty easy to figure: The investment with the lowest yield. But I wouldn't want the most safety because it is not really needed. Say you have 30% in fixed income in a $2 million portfolio, so that's just $600,000. If that drops by 1%, that's just $6,000 which should not be a big...
by multiham
Sat Mar 18, 2017 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds
Replies: 8
Views: 561

Re: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds

I don't think you need to put any bond funds in your taxable account at all, so no need for tax-exempt muni bond funds. I don't think it will matter which fixed income fund(s) you choose to use. You can use the two funds in your 401(k) and/or you can chose some Vanguard funds in the IRAs. You canno...
by multiham
Sat Mar 18, 2017 11:00 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds
Replies: 8
Views: 561

Re: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds

I personally would 1) sell the IRA vanguard 500 index and buy total bond market and 2) tax loss harvest the individual stocks you have in taxable and buy an intermediate term muni fund. I'm with you on the selling of the Vanguard 500 and buying Total Bond Market. Can't do the tax loss harvest as th...
by multiham
Sat Mar 18, 2017 10:01 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds
Replies: 8
Views: 561

Portfolio Review - Looking to retire in 6 years at 57. Need help with Fixed Income Funds

Looking for some advice on my portfolio. After being on forum for 3 months, I have changed some of my thoughts and assumptions. Looking to retire in 6 years at 57. Sorry for so much information below, but have learned from other posts to include as much as possible. Emergency Funds: 9 months at Amer...
by multiham
Mon Mar 13, 2017 7:50 pm
Forum: Investing - Help with Personal Investments
Topic: I-bonds
Replies: 41
Views: 5747

Re: I-bonds

... Today I purchased an I-Bond from Treasury Direct. Went out to the site and can see my purchase. Here are my questions: 1. I did not get a serial number with the bond. Did that go away now that you purchase them electronically and they are held at TD? Yes. You do get purchase confirmations, in t...
by multiham
Mon Mar 13, 2017 5:58 pm
Forum: Investing - Help with Personal Investments
Topic: I-bonds
Replies: 41
Views: 5747

Re: I-bonds

General question on holding Bonds at Treasury Direct. I had not purchased any Savings Bonds in the last 10 years or so. The last ones I purchased were paper and I have been keeping track of them in the Savings Bond Wizard that Treasury Direct offers. This allows me to see my accrued interest and bal...
by multiham
Sun Mar 12, 2017 5:35 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Question on Contributions and Earnings
Replies: 2
Views: 271

Re: 401K Question on Contributions and Earnings

Can you clarify what the restricted company match is. Are these unvested employer contributions? Are they RSUs? ... You do seem to have an understanding of the various accounts. Does your plan allow in-service rollovers of the post-tax contributions and earnings? Personally, I prefer to use (and wi...
by multiham
Sun Mar 12, 2017 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Question on Contributions and Earnings
Replies: 2
Views: 271

401K Question on Contributions and Earnings

Have a 401K with my employer. My company allows you to put in post tax contributions. My question is around handling the balance when I retire and also around the Roth portion of the 401K. The below represents my 401K balance broken out by classification my company uses. I am trying to get answers f...
by multiham
Sun Mar 05, 2017 7:52 pm
Forum: Investing - Help with Personal Investments
Topic: Help With Roth Ladders
Replies: 9
Views: 765

Re: Help With Roth Ladders

The Root of Good blog has a write up on Roth conversion ladders: http://rootofgood.com/roth-ira-conversion-ladder-early-retirement/ Thank you for posting. This is the article that has me asking the questions. What confuses me is that I do not believe I can start pulling $ out of my 401K to do the R...
by multiham
Sun Mar 05, 2017 3:17 pm
Forum: Investing - Help with Personal Investments
Topic: Help With Roth Ladders
Replies: 9
Views: 765

Re: Help With Roth Ladders

Thank you all for the help! I will ask our administrator some additional questions. Does anyone else have any recommendations on books or really good articles on Roth Ladders? Any real world examples of people doing this in their 401K that they would like to share or point me in the direction of a p...
by multiham
Sun Mar 05, 2017 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: Help With Roth Ladders
Replies: 9
Views: 765

Help With Roth Ladders

Looking to get advice and also a list of questions that I need to research with my 401K. Age: 51 Retirement: Looking to retire between 55 and 57 Current 401K Balance: $1.35 million Contributions: $34,000 including Catch-Up and after tax contributions (Our plan allows us to put in after tax contribut...
by multiham
Mon Feb 13, 2017 10:22 pm
Forum: Investing - Help with Personal Investments
Topic: Confused on Roth 401k
Replies: 4
Views: 487

Confused on Roth 401k

Read the wiki, but still confused. I am 51 years old The company I work for has a Roth 401k option, and allows you to contribute after tax $'s to you hit the $53,000 contribution level Here is where I get confused. If I contribute $24,000 pretax into regular 401k, can I then do additional after tax ...
by multiham
Sun Feb 12, 2017 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Please check my thinking on Backdoor Roth
Replies: 4
Views: 340

Re: Please check my thinking on Backdoor Roth

Thank you rebellovw and Epsilon Delta! I'm just extremely cautious when it comes to financial matters. I thought I had it right, but it is always good to hear from others. Epsilon Delta - Thank you for the clarification on the 8016.
by multiham
Sun Feb 12, 2017 1:18 pm
Forum: Investing - Help with Personal Investments
Topic: Please check my thinking on Backdoor Roth
Replies: 4
Views: 340

Please check my thinking on Backdoor Roth

Age 51, Spouse is 50 Married with 2 Children 401K at work Pension Plan at work My MAGI is too high for a Roth Contribution Wife works part time and makes roughly $10,000 I do not have have any traditional IRA's. I have one Roth IRA from a long time ago with $2,000 in it Spouse has Rollover IRA's fro...
by multiham
Sun Feb 12, 2017 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Help understanding if I bonds are a good investment for me
Replies: 4
Views: 678

Re: Help understanding if I bonds are a good investment for me

Not the question you asked, but why are you making non-Roth after-tax contributions to your 401k? If it's for a mega backdoor Roth conversion, great. If so can you do the conversion now or do you have to wait until you leave the company or reach age 59.5? If you're not planning on doing a Roth conv...
by multiham
Sat Feb 11, 2017 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: Help understanding if I bonds are a good investment for me
Replies: 4
Views: 678

Help understanding if I bonds are a good investment for me

I currently max out my 401K at work (including post tax contributions up to $54,000 limit) I am also starting to make contributions to a TIRA and then doing a back-door Roth. My question is on the value of I Bonds. Age: 51 married with 2 children Emergency Savings - Over 9 months Goal - Retire in 4 ...
by multiham
Sat Feb 11, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Tires for an old car
Replies: 42
Views: 2825

Re: Tires for an old car

Definitely sounds like a transmission issue unless the slippage occurred on wet streets. May I suggest for your safety and the safety of other drivers, please get new tires. Old tires really decrease your ability to stop and also increase the chance of hydroplaning in the rain. Look for a good tire ...
by multiham
Sat Feb 11, 2017 9:09 am
Forum: Investing - Help with Personal Investments
Topic: Wow, Vanguard Flagship service is bad. Really bad.
Replies: 151
Views: 22714

Re: Wow, Vanguard Flagship service is bad. Really bad.

For those of us old enough to remember when Sears and Kmart were relevant retailers, this is starting to sound all too familiar. Neither of these retailers invested in logistics or in store systems to stay up to date with technology. Out of a few stores in Arkansas came WalMart who improved on the r...
by multiham
Mon Jan 30, 2017 5:27 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 4 years at 55
Replies: 10
Views: 1553

Re: Portfolio Review - Looking to retire in 4 years at 55

I'll have to check out HSA next year when we pick our benefits. I'm locked in for 2017. Have to admit that I have not looked into these over the last couple of years as I'm kind of a creature of habit and continue to choose the Health plan that I've had for many years. Thank you for the suggestion.
by multiham
Mon Jan 30, 2017 5:16 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 4 years at 55
Replies: 10
Views: 1553

Re: Portfolio Review - Looking to retire in 4 years at 55

I appreciate the question on making sure that I am not qualified for a Roth IRA. I hadn't done the calculation in a while and didn't realize how close I was to being able to contribute some $'s to a Roth IRA.

Still hoping to get some other ideas on my questions.

Thank you!!
by multiham
Sun Jan 29, 2017 6:42 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 4 years at 55
Replies: 10
Views: 1553

Re: Portfolio Review - Looking to retire in 4 years at 55

2. My income does not allow me to make a Roth contribution. Went back and double checked. My magi is $201,000. Unless I'm reading the charts wrong, I won't be able to make a Roth contribution for tax year 2016. Thanks for suggesting the double check on calculation. multiham, What is your gross inco...
by multiham
Sun Jan 29, 2017 5:57 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 4 years at 55
Replies: 10
Views: 1553

Re: Portfolio Review - Looking to retire in 4 years at 55

KlangFool wrote:
multiham wrote:
2. My income does not allow me to make a Roth contribution.



Went back and double checked. My magi is $201,000. Unless I'm reading the charts wrong, I won't be able to make a Roth contribution for tax year 2016. Thanks for suggesting the double check on calculation.
by multiham
Sun Jan 29, 2017 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Looking to retire in 4 years at 55
Replies: 10
Views: 1553

Portfolio Review - Looking to retire in 4 years at 55

Had posted a couple of different questions earlier and received great help! I did not understand that I could tap into my 401K prior to 59 1/2. Thank you for the help on understanding that it is possible to tap in before 59 1/2. Have now asked some additional questions on my scenario. Love this foru...
by multiham
Fri Jan 20, 2017 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Where to get $100k for home remodel?
Replies: 34
Views: 3877

Re: Where to get $100k for home remodel?

The options are: 1. Sell $100k worth of stock in a taxable account initiating a long term capital gain of probably 20-30k in the 20% capital gains tax bracket (I should have enough in losses from TLH to counteract this) 2. Get a home equity loan at around 4% but have the added expenses of appraisal...
by multiham
Thu Jan 12, 2017 8:02 pm
Forum: Investing - Help with Personal Investments
Topic: Looking to retire at 55 (4 years) - Questions on current direction
Replies: 10
Views: 1773

Re: Looking to retire at 55 (4 years) - Questions on current direction

Desired Asset Allocation: 70% stocks, 30% bonds Looks like you are doing pretty well to me. But as close as you are to planned retirement, you might want to lighten up your AA a bit, say to 60/40 or even 50/50. A 2008-style downturn as you enter retirement is going to hurt quite a bit at 70/30. ......
by multiham
Thu Jan 12, 2017 7:59 pm
Forum: Investing - Help with Personal Investments
Topic: Looking to retire at 55 (4 years) - Questions on current direction
Replies: 10
Views: 1773

Re: Looking to retire at 55 (4 years) - Questions on current direction

Since the interest is not deductible I would hit the car loan first, promise myself to hold the car as long as practical, and never finance another car again. Your emergency fund is good and your taxable investments are well funded so I would maximize what is going to the car loan till it is gone t...
by multiham
Thu Jan 12, 2017 7:57 pm
Forum: Investing - Help with Personal Investments
Topic: Looking to retire at 55 (4 years) - Questions on current direction
Replies: 10
Views: 1773

Re: Looking to retire at 55 (4 years) - Questions on current direction

If you leave your job at age 55, you can withdraw from your 401k without early withdrawal penalty. Just make sure you don't rollover to IRA. IMO, you should continue to max out your 401k and you should use the backdoor into Roth IRA. Max out your retirement plans before college savings. Minor clari...
by multiham
Thu Jan 12, 2017 7:55 pm
Forum: Investing - Help with Personal Investments
Topic: Looking to retire at 55 (4 years) - Questions on current direction
Replies: 10
Views: 1773

Re: Looking to retire at 55 (4 years) - Questions on current direction

If you leave your job at age 55, you can withdraw from your 401k without early withdrawal penalty. Just make sure you don't rollover to IRA. IMO, you should continue to max out your 401k and you should use the backdoor into Roth IRA. Max out your retirement plans before college savings. Thank you f...

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