Search found 30 matches

by plasma800
Thu Jul 20, 2017 9:04 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Re: Backdoor Roth?

I guess one big question I haven't answered is: Can you convert only new contributions, or can you convert past contributions too. I understand that if my balance was say 22900, and I contribute 5500 for 17, and I want to convert the 5500 then the math is 22900 + 5550 = 28400 5500 / 28400 = .19 Tax ...
by plasma800
Thu Jul 20, 2017 8:12 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Re: Backdoor Roth?

AND I just contributed the max for both her and myself into the vanguard traditional IRA's I just opened last week. That's ok. An IRA becomes "traditional" or "non-deductible" only after you file your 2017 taxes and take the deduction, or file Form 8606. You can convert to a Rot...
by plasma800
Thu Jul 20, 2017 8:11 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Re: Backdoor Roth?

Earl Lemongrab wrote:Just to clarify, your S-corp has other employees?



S-Corp absolutely has employees.
by plasma800
Thu Jul 20, 2017 8:10 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Re: Backdoor Roth?

AND I just contributed the max for both her and myself into the vanguard traditional IRA's I just opened last week. That's ok. An IRA becomes "traditional" or "non-deductible" only after you file your 2017 taxes and take the deduction, or file Form 8606. You can convert to a Rot...
by plasma800
Wed Jul 19, 2017 5:49 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Re: Backdoor Roth?

AND I just contributed the max for both her and myself into the vanguard traditional IRA's I just opened last week.
by plasma800
Wed Jul 19, 2017 5:48 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Re: Backdoor Roth?

Ok so, I have a traditional IRA. I just fired my adviser firm and am moving the entire thing to Vanguard tomorrow. Same for my Wife's ira, which is partly made up of money moved from her SEP IRA at another employer. I'm self-employed with 100% ownership of an S Corp, my wife works for the business o...
by plasma800
Wed Jul 19, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Needed - Investing, Saving, Debt reduction
Replies: 26
Views: 2005

Re: Advice Needed - Investing, Saving, Debt reduction

But trust me, your kids want you to be saving enough for retirement. My mom is in her 50s and we both have about the same amount saved for retirement. I'm on track. She is not, and I'm terrified. I feel like you're letting your aversion to debt (for both yourself and your kids) cloud your judgement...
by plasma800
Wed Jul 19, 2017 4:51 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth?
Replies: 15
Views: 1139

Backdoor Roth?

Can anyone enlighten me about the what's and hows of a "backdoor" roth? I'm not that familiar with the rules of engagement with IRA's, seeking to learn something new. Apparently, I make too much money for a Roth, and I guess my wife would be included in that as we file jointly? Either way,...
by plasma800
Wed Jul 19, 2017 1:59 pm
Forum: Personal Consumer Issues
Topic: how to destroy hard disk with personal info
Replies: 99
Views: 7188

Re: how to destroy hard disk with personal info

I'm pretty sure he said the drives were inoperable.

I'd toss em in my burn barrel along with all the other mail and stuff I burn up :)
by plasma800
Wed Jul 19, 2017 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Artist Son - 10 years old
Replies: 17
Views: 2140

Re: Artist Son - 10 years old

Hello All, My son is 10 years old (entering 5th grade) and is an artist. He recently started doing tile art and I loved it. One friend suggested to sell it. I put it on letgo and it got sold for $5. My colleague in office order four tiles. But i am wondering what other options I have to sell his ar...
by plasma800
Wed Jul 19, 2017 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Artist Son - 10 years old
Replies: 17
Views: 2140

Re: Artist Son - 10 years old

Hello All, My son is 10 years old (entering 5th grade) and is an artist. He recently started doing tile art and I loved it. One friend suggested to sell it. I put it on letgo and it got sold for $5. My colleague in office order four tiles. But i am wondering what other options I have to sell his ar...
by plasma800
Wed Jul 19, 2017 8:39 am
Forum: Investing - Help with Personal Investments
Topic: What's the best way to invest $50,000?
Replies: 4
Views: 559

Re: What's the best way to invest $50,000?

OP, do you have a 401k? If you do, put your bonds (10-20%) in your 401k or Roth IRA. Fill your Roth IRA up for 2017 yet? $5,500 there. Set aside $5,500 for 2018 as well. Taxable: Total US + Total International index funds @ Vanguard Roth IRA: Total US + Total US Bond You can do this yourself if you...
by plasma800
Mon Jul 17, 2017 11:36 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

She has a Traditional IRA with WF Advisors with about 67,000 left in it. To get to the question you asked about (which seems to be the least of her worries), what do you mean by "67,000 left in it"? Has she been withdrawing from it besides fees eating away at it? If she turned 70 in the f...
by plasma800
Mon Jul 17, 2017 11:30 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

A note to add, in the next few years, she has the chance to make a lot of money. She's pretty astute, and in a current position to produce a lot of money from home. Possibly over a million in total production. Now I get it! She was talked into fell for one of those work-at-home schemes that cost $1...
by plasma800
Mon Jul 17, 2017 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

Vanguard Wellesley has historically easily beaten 3.5%, and done decent during downturns. VWIAX. About 2:1 Bonds:Stocks, actively managed. A good hope for beating the loan while mitigating "all-time stock highs" fear. Also, the all bond actively managed PIMIX with its star manager also ha...
by plasma800
Mon Jul 17, 2017 10:59 am
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

LOL.

The loan is not for any other reason than that she feels comfortable with the cash on had to cover short term living expenses if needed.

It's irrational, I know. I am unable to stop her, so I'm wanting to just create the best lemon aid that can be had out of it.
by plasma800
Mon Jul 17, 2017 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

I'd love to continue the subject. It will be a good lesson for me. I tried to dissuade her from the home equity loan, not even a heloc, but a cash out.. but that was a no go. At the very least, she has her eyes on a used car she likes at about 12,000 but I have a feeling it will be in the shop a lot...
by plasma800
Sun Jul 16, 2017 10:46 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

My stepfather is 87, just diagnosed with leukemia. Who knows how that ends or how soon. And he cashed his life insurance and gave it to his son years ago.

Bad move
by plasma800
Sun Jul 16, 2017 10:44 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

What's her annual expenses? Pretty soon she won't be able to work and will she be having any other regular incomes besides the $24K a year in SS surviving spousal benefit? At her age, her asset allocation should lean a lot more towards bonds and unfortunately, bonds gain cannot beat her HELOC inter...
by plasma800
Sun Jul 16, 2017 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

I might consider a Target retirement Income fund, 70% bonds as a set-and-forget fund. at least for the IRA. Maybe just 30% total stock market in taxable, and the rest in CDs or bonds (muni bonds if in 25+% tax bracket). Maybe check Ally online bank for savings rate and CD rates. Did she just lose h...
by plasma800
Sun Jul 16, 2017 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

Well, why does she need 100k? Also, she certainly can't afford a new car, unless it is one of the cheapest ones they make. So she plans on taking out a 3% loan and putting it in a vehicle that returns 1%? The whole plan is so beyond the pale I don't know if you should be involved at all for when th...
by plasma800
Sun Jul 16, 2017 9:12 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

Why On earth is she taking out a loan to invest in the stock market, ESP with markets at an all time high? Maybe a reverse mortgage would make more sense. She was going to just put it in a savings account. I was the one who suggested at least an inflation protected bond or something. So to be clear...
by plasma800
Sun Jul 16, 2017 9:02 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Re: Help with my Moms IRA, age 70 with 90% stocks

mhalley wrote:Why On earth is she taking out a loan?


I agree with you on that one. It's very possible her Husband could be near passing and she feels more comfortable with more emergency cash on hand. I've attempted to dissuade her, but she's an adult and does as she pleases.
by plasma800
Sun Jul 16, 2017 8:52 pm
Forum: Investing - Help with Personal Investments
Topic: Help with my Moms IRA, age 70 with 90% stocks
Replies: 21
Views: 1706

Help with my Moms IRA, age 70 with 90% stocks

Hi All, I'm hoping I can get some pointers. I know a lot about my own portfolio, but I'm unsure how to advise my mom. She's 70, still works (because she likes to), and is in stellar health for her age group. She has a Traditional IRA with WF Advisors with about 67,000 left in it. I've been begging h...
by plasma800
Sun Jan 01, 2017 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: My wife's SEP Ira - loaded to the gills, what to do.
Replies: 20
Views: 1453

Re: My wife's SEP Ira - loaded to the gills, what to do.

I hadn't yet considered that we could move her sep to another brokerage, like vanguard. That could be a win right there.
by plasma800
Sat Dec 31, 2016 11:24 am
Forum: Investing - Help with Personal Investments
Topic: My wife's SEP Ira - loaded to the gills, what to do.
Replies: 20
Views: 1453

Re: My wife's SEP Ira - loaded to the gills, what to do.

I have another stupid question. Are loads charged yearly on the entire amount, or are they charged only once on new money being invested? Loads are charged at the time of purchase. Expense Ratio is the annual amount charged for maintaining the account. + other fee's - digging into the pros. of each...
by plasma800
Sat Dec 31, 2016 11:04 am
Forum: Investing - Help with Personal Investments
Topic: My wife's SEP Ira - loaded to the gills, what to do.
Replies: 20
Views: 1453

Re: My wife's SEP Ira - loaded to the gills, what to do.

I have another stupid question. Are loads charged yearly on the entire amount, or are they charged only once on new money being invested?
by plasma800
Sat Dec 31, 2016 10:12 am
Forum: Investing - Help with Personal Investments
Topic: My wife's SEP Ira - loaded to the gills, what to do.
Replies: 20
Views: 1453

Re: My wife's SEP Ira - loaded to the gills, what to do.

Ok I have some confirmations.

It's 100% a SEP Ira
And it's at Americanfunds, not Ameritrade...
by plasma800
Fri Dec 30, 2016 10:44 pm
Forum: Investing - Help with Personal Investments
Topic: My wife's SEP Ira - loaded to the gills, what to do.
Replies: 20
Views: 1453

Re: My wife's SEP Ira - loaded to the gills, what to do.

My Father in law is an investment adviser of 30 years, and he holds our regular IRA's, but he's simply been to busy to advise me on the situation, so I'm seeking guidance elsewhere. Thanks! This strikes me as very surprising. He "Manages" your IRAs but doesnt have time to recommend funds ...
by plasma800
Fri Dec 30, 2016 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: My wife's SEP Ira - loaded to the gills, what to do.
Replies: 20
Views: 1453

My wife's SEP Ira - loaded to the gills, what to do.

Hi all, I've been trying to figure out what to do on a particular account. My wife has a SEP IRA from an employer (whom she now works part time for). The SEP is administrated by Ameritrade. The "broker lady" who manages it is very friendly with the employer and everyone sings her praises. ...

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