Search found 252 matches

by soccerdad12
Wed May 25, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Back Door Roth and the ACP Test
Replies: 5
Views: 323

Re: Mega Back Door Roth and the ACP Test

We ran into this exact issue this past year. Did the after tax contribution to max the account out around $55k and then the next day took the entire after-tax amount out and rolled into a mega back door roth. 3 months later got a notice that we failed the ACP test and all the after tax money needed ...
by soccerdad12
Fri Apr 29, 2016 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Do I need anything more than WillMaker?
Replies: 13
Views: 1224

Re: Do I need anything more than WillMaker?

Children aren't really minor.... 17 and 21. Not sure if that matters. We have a sibling and parents that live w/i 30 minutes so there is family to help with the 17 yo if something happened before leaving for college.
by soccerdad12
Fri Apr 29, 2016 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Do I need anything more than WillMaker?
Replies: 13
Views: 1224

Re: Do I need anything more than WillMaker?

I am a do-it-myself type if it is something that isn't too complicated. I definitely don't want to jeopardize anything and am definitely willing to pay if there is some additional value brought. I don't want to pay for something that isn't needed. I do find that when people know your net worth, the ...
by soccerdad12
Fri Apr 29, 2016 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Do I need anything more than WillMaker?
Replies: 13
Views: 1224

Do I need anything more than WillMaker?

I wanted to get advice to see if Willmaker software would be sufficient for my needs. My current will was made with Willmaker since I think I am pretty uncomplicated. Situation: Age in low-mid 40s Current retirement nest egg (low-mid 7 figures) Own a majority share of a corporation (my portion proba...
by soccerdad12
Thu Apr 28, 2016 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Degree, College and Career
Replies: 20
Views: 1799

Re: Degree, College and Career

I think the best advice to a young person is to help them find something they really like. We tend to excel in areas we enjoy.
by soccerdad12
Wed Apr 06, 2016 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Firecalc, really?
Replies: 58
Views: 6527

Re: Firecalc, really?

I would still be the owner of a business that is very profitable. Even though I wouldn't be actively working, I would be collecting hefty dividends 2x year.
by soccerdad12
Wed Apr 06, 2016 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Firecalc, really?
Replies: 58
Views: 6527

Re: Firecalc, really?

Even if I think I might qualify for a subsidy (which I wouldn't), I am leery that at some point the government will start means testing and I would blocked from the subsidy. I have no idea if that would happen, but would want to calculate full cost for planning sake.
by soccerdad12
Wed Apr 06, 2016 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Firecalc, really?
Replies: 58
Views: 6527

Re: Firecalc, really?

I will probably retire around 50 years old and am assuming that health insurance for me and my wife will cost us about $20k year. That would be for a plan off an exchange plus the deductible. Can anyone with real life experience buying own insurance pre-medicare tell us more accurate numbers of what...
by soccerdad12
Wed Apr 06, 2016 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Firecalc, really?
Replies: 58
Views: 6527

Re: Firecalc, really?

If you are currently working your healthcare costs might be paid for by your employer. Make sure you are adding self-paid health insurance (and deductible) into your projected expenses. That is the variable cost that scares me the most for retirement planning.
by soccerdad12
Thu Mar 10, 2016 11:19 am
Forum: Investing - Theory, News & General
Topic: Looking for Audible (audio book) recommendations
Replies: 14
Views: 1088

Re: Looking for Audible (audio book) recommendations

Have you read any of the books by Michael Lewis? Although not personal finance books, they are non-fiction and deal with the stock market, housing market etc... They are really interesting and have an impact on more macro levels that affect the markets. Check out: Flash Boys, The Big Short, Boomerang
by soccerdad12
Tue Mar 08, 2016 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to classify workers: IC or employees for small business
Replies: 11
Views: 905

Re: How to classify workers: IC or employees for small business

Good luck finding a lawyer that is knowledgeable in this specific area. I have gone down that path and only found one that knew what he was talking about. He worked for a huge law firm, cost $650/hour and eats lunch with the head of that department in the IRS. There are a lot of things that we can't...
by soccerdad12
Tue Mar 08, 2016 9:12 am
Forum: Personal Finance (Not Investing)
Topic: How to classify workers: IC or employees for small business
Replies: 11
Views: 905

Re: How to classify workers: IC or employees for small business

They are most definitely employees. This is not something to mess with. If one of the employees becomes disgruntled or disagrees with you all they have to do is fill out IRS Form SS-8 and your goose is cooked. A true independent contractor can do the job whenever they want, are paid by the job (not ...
by soccerdad12
Wed Mar 02, 2016 2:50 pm
Forum: Personal Consumer Issues
Topic: MS Surface Pro 4?
Replies: 15
Views: 1332

Re: MS Surface Pro 4?

The surface pro 3 is fantastic for taking digital notes. OneNote and the pen work perfect. I assume it is just as good or better for the surface pro 4.
by soccerdad12
Sat Feb 13, 2016 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: ER in 401k
Replies: 2
Views: 309

ER in 401k

I was looking at my ER in my 401k and wanted to ask a question. I am moving to a 3 fund portfolio and could use 1 of 2 funds in my 401k to that end. FSTMX (Spartan total stock market) with ER of .10 FBIDX (Spartan US Bond) with ER of .22 I don't have Vanguard funds in my 401k. I can use Vanguard adm...
by soccerdad12
Tue Jan 26, 2016 9:44 am
Forum: Personal Consumer Issues
Topic: Anyone use skiplagged.com?
Replies: 7
Views: 1217

Re: Anyone use skiplagged.com?

There are definitely some risks with it, but what made me ask the question was for the route I checked the fare was 60% less.
by soccerdad12
Mon Jan 25, 2016 8:13 pm
Forum: Personal Consumer Issues
Topic: Anyone use skiplagged.com?
Replies: 7
Views: 1217

Anyone use skiplagged.com?

I am planning to start some traveling with the wife this year. Someone at work told me about http://www.skiplagged.com He hasn't used it, but it definitely can cut the price of flights. I tried a couple of destinations and some of them seem half the cost. The jist of it is that it will get you to yo...
by soccerdad12
Mon Jan 25, 2016 4:24 pm
Forum: Personal Consumer Issues
Topic: Anyone have experience with truecar.com or similar ?
Replies: 26
Views: 2088

Re: Anyone have experience with truecar.com or similar ?

It is actually weird to get the best prices with all cash offers. The finance companies give solid dealer incentives which can give them flexibility in pricing. Pretty sure this is true. Last time I purchased a new car I wanted to do it in cash. Sales guy said that the price would be higher because...
by soccerdad12
Wed Jan 20, 2016 12:17 pm
Forum: Investing - Help with Personal Investments
Topic: Which fund is best in after tax account?
Replies: 6
Views: 374

Re: Which fund is best in after tax account?

I am in the highest tax bracket. I am not sure about the foreign taxes. Are you saying it matters based on the amount of funds in VTIAX? If so, what is the amount I am looking to stay under? I am going to the 3 fund portfolio, so there are only 3 funds to consider. My traditional 401k is where I put...
by soccerdad12
Wed Jan 20, 2016 12:06 pm
Forum: Investing - Help with Personal Investments
Topic: Which fund is best in after tax account?
Replies: 6
Views: 374

Which fund is best in after tax account?

I am trying to put the correct funds in ROTH IRA, traditional 401k, traditional IRA and after-tax accounts.

I have all of my bonds in my traditional 401k. Which of these 2 funds are best in after-tax (not tax deferred): VTIAX or VTSAX?

Thanks!
by soccerdad12
Tue Jan 19, 2016 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: Main problem with Vanguard target date funds
Replies: 7
Views: 1189

Re: Main problem with Vanguard target date funds

I honestly don't mind if target date funds aren't tax efficient. I think the tax drag is still less damaging to my portfolio than my constant need to tinker if I don't have investments on autopilot. I am not sure of your situation, but would you say the same thing if your taxable accounts are in th...
by soccerdad12
Tue Jan 19, 2016 9:43 am
Forum: Investing - Help with Personal Investments
Topic: Main problem with Vanguard target date funds
Replies: 7
Views: 1189

Main problem with Vanguard target date funds

Is the main problem with utilizing Vanguards target date funds that I can't separate funds by taxable and tax sheltered accounts? I am rethinking my strategy to make things more simple (I am not overly complicated but do have some slice and dice) and target date funds seems as simple as you can get....
by soccerdad12
Thu Jan 14, 2016 4:31 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

This is all personal $$ and not operating cash for the business. 2008-2010 were some of our fastest growing years. What we do is good in a strong economy and very good in a struggling economy (as long as it isn't a catastrophic depression).
by soccerdad12
Thu Jan 14, 2016 1:18 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

Since you own your own business, its probably good to diversify into more assets. Whether that comes from profits/proceeds or an "EF" would be up to you. Buying on dips makes sense, but doesn't answer the question of why that cash wasn't already invested. I typically only do a dividend pa...
by soccerdad12
Thu Jan 14, 2016 1:14 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

So then after you pull $$ from your bond fund on a equity RBD, does all of your new investment money go into the bond fund in order to build it back up?
by soccerdad12
Thu Jan 14, 2016 1:08 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

Hi livesoft. I understand what you have been buying. My question is, what are you using to buy them with? If you aren't using an emergency fund and all of your other money should already be invested, then are you selling bonds and buying equities on the dip?
by soccerdad12
Thu Jan 14, 2016 12:54 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

I have 3 years of living expenses in my emergency fund. Why do you have an emergency fund at all? Why 3 years? I am not really sure that I need much of an emergency fund. I own everything outright. I guess I have one so that if all heck breaks loose that I don't need to sell any investments for a v...
by soccerdad12
Thu Jan 14, 2016 12:52 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

Agree with the above, plus... If you are able to replenish the EF in 2 months... where is that money going now? I'd recommend taking that cash flow and DCA'ing it in. :beerCheers, packet I would just take a distribution from my business. Right now I typically only do that once or twice a year, but ...
by soccerdad12
Thu Jan 14, 2016 12:50 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

3 years of emergency fund? Sure, you can buy more, but then you could also have your emergency fund reduced to 1 year of expenses instead, too. You can do whatever you want as long as you put it in your IPS. For example, in my IPS I have that I MUST buy equities on certain market drops. I do this b...
by soccerdad12
Thu Jan 14, 2016 12:49 pm
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Re: Systematically buy from Emergency Fund on Dips?

Wait, so if I do the math right, in 20 months, you could have saved up 30 YEARS of living expenses? Why aren't you retired yesterday? I could refill the max of the $30k that I take from the emergency fund in 2 months. I am not sure how you are saying that 20 months = 30 years of living expenses. I ...
by soccerdad12
Thu Jan 14, 2016 11:36 am
Forum: Investing - Theory, News & General
Topic: Systematically buy from Emergency Fund on Dips?
Replies: 44
Views: 3163

Systematically buy from Emergency Fund on Dips?

Other than my monthly investing, does it make sense to buy a set amount (say $10k) of the most discounted of the funds that I am in from my emergency fund on every dip of 5%? I have 3 years of living expenses in my emergency fund. I can replenish the emergency fund in 2 months. I would limit myself ...
by soccerdad12
Wed Jan 06, 2016 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Nature vs Nurture
Replies: 27
Views: 1369

Nature vs Nurture

Was visiting my elderly parents over the holidays and had an interesting conversation with them. My dad is very, very frugal. Always has been and always will be. Due to that he is wealthy, but that doesn't change his frugality. He claims he learned that from his parents living thru the depression. O...
by soccerdad12
Fri Dec 11, 2015 10:34 am
Forum: Investing - Theory, News & General
Topic: Fear of Bonds...what to do?
Replies: 56
Views: 6356

Re: Fear of Bonds...what to do?

@knpstr I have the same mindset as you (in general), but the problem is that when you figure out you need bonds it is probably already too late. I wouldn't feel comfortable taking such a large risk until my retirement portfolio is at least 8 figures. I never had bonds until my 40s (but I do go a lit...
by soccerdad12
Mon Nov 09, 2015 5:08 pm
Forum: Personal Consumer Issues
Topic: [Looking for] Cool new apps
Replies: 10
Views: 1463

Re: [Looking for] Cool new apps

If you download books from amazon to read on a kindle or ipad type device, then you should look into Overdrive. I use it with my local library card and all the digital books are free for 15 days (then they get electronically returned). Saves me a ton of $$. One other cool app is called Fooducate. It...
by soccerdad12
Tue Oct 13, 2015 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Military Retirement; "Should I stay or should I go now?"
Replies: 39
Views: 4207

Re: Military Retirement; "Should I stay or should I go now?"

Another consideration.... you are 41 right now. Say you stay in for another 10 years and are 51. Is it a lot harder to gain employment at 51 yo rather than 41? I am not sure as I have never been in that situation and am not of that age, but others here might have direct experience. If you plan on re...
by soccerdad12
Thu Sep 17, 2015 9:56 am
Forum: Investing - Theory, News & General
Topic: Just finished Flash Boys
Replies: 40
Views: 5763

Just finished Flash Boys

What an interesting book. I had no idea all of that "stuff" was going on in the background. I wonder if the amount of hi frequency trading front running has reduced significantly since the IEX opened. Out of interest, I took a look at the IEX website to see how they are doing and it seems ...
by soccerdad12
Wed Sep 16, 2015 12:56 pm
Forum: Personal Consumer Issues
Topic: What is the best way to purchase Iphone?
Replies: 37
Views: 5253

Re: What is the best way to purchase Iphone?

I have bought multiple iphones from craigslist. I always buy 1 version back that is less than 1 year old (so it is still covered under warranty). I pay cash for the phone but get it at a good price. For instance, I bought a iphone 5s 2 months ago for $380 and it was less than 1 year old and in perfe...
by soccerdad12
Thu Sep 10, 2015 3:02 pm
Forum: Personal Consumer Issues
Topic: Best Small Purchases (Around the house)
Replies: 133
Views: 15119

Re: Best Small Purchases (Around the house)

As strange as it sounds, I get a ton of good use out of the projection alarm clock in our bedroom. I love it! http://www.amazon.com/Oregon-Scientific-RM313PNA-Self-Setting-Projection/dp/B0002H4I2C/ref=sr_1_2?tag=bogleheads.org-20&keywords=alarm+clock+projection Every night I look up at it (unfor...
by soccerdad12
Fri Sep 04, 2015 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: My Mega Backdoor ROTH Plan
Replies: 11
Views: 947

Re: My Mega Backdoor ROTH Plan

That is correct.
by soccerdad12
Fri Sep 04, 2015 11:38 am
Forum: Investing - Help with Personal Investments
Topic: 401k is not set up at my new job yet...
Replies: 44
Views: 3069

Re: 401k is not set up at my new job yet...

One other thought is if you have the skills to open up a side business doing some off hours moonlighting (IT work, tutoring, etc....). If you open your open company (LLC, S Corp etc....) you can set up a SEP IRA thru it and stash money that way until the 401k comes along.
by soccerdad12
Fri Sep 04, 2015 11:11 am
Forum: Investing - Help with Personal Investments
Topic: My Mega Backdoor ROTH Plan
Replies: 11
Views: 947

Re: My Mega Backdoor ROTH Plan

I never checked on that. My 401k provider is trowe and I am not as big a fan of their funds, so I didn't think to even ask. I wanted to get the funds to Vanguard where the rest of my investments are.
by soccerdad12
Fri Sep 04, 2015 8:37 am
Forum: Investing - Help with Personal Investments
Topic: My Mega Backdoor ROTH Plan
Replies: 11
Views: 947

Re: My Mega Backdoor ROTH Plan

I did notice the amount withdrawn wasn't exactly the amount deposited in after-tax (minus the $50 fee) so I will have to take a look at it. That is why I made the full amount of after-tax deposit in one lump and distributed it quickly afterwards. I figure it would be alot easier to track the gain/lo...
by soccerdad12
Fri Sep 04, 2015 8:15 am
Forum: Investing - Help with Personal Investments
Topic: My Mega Backdoor ROTH Plan
Replies: 11
Views: 947

My Mega Backdoor ROTH Plan

After reading this forum about the Mega Backdoor Roth, I had my company 401k changed to allow after-tax contributions and withdraws. Last week I fully funded my regular 401k and the full after tax amount. I funded the full after-tax amount in one deposit. This week I opened a new ROTH IRA (so I keep...
by soccerdad12
Wed Jul 29, 2015 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Release of Parental Financial Liability?
Replies: 20
Views: 2323

Re: Release of Parental Financial Liability?

Child lives in my house.
Car is titled in my name.
Child has a job and goes to community college part time and works about 20 hours per week.
Sounds like I am out of luck.

When they become 21 does that change things because they are considered an adult?
by soccerdad12
Wed Jul 29, 2015 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Release of Parental Financial Liability?
Replies: 20
Views: 2323

Release of Parental Financial Liability?

One of my fears of my personal finance is that one of my kids (under 21) is the driver in a car accident, is at fault and severely hurts the people in the other car. Obviously my #1 concern is the safety of everyone involved, but my financial fear is that I can be taken to the financial woodshed sin...
by soccerdad12
Thu May 14, 2015 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Conundrum: Can do my own books but banks require CPA statement
Replies: 23
Views: 2381

Re: Conundrum: Can do my own books but banks require CPA statement

Of course the banks want a CPA stamp on your books. What would stop you from "cooking" the books in order to get a large loan? It has nothing to do with if you know quickbooks. They want a CPA's rep on the line to ensure what your books are saying jive with what your AR and business bank a...
by soccerdad12
Mon Nov 24, 2014 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: My Health care monthly premiums doubled after ACA
Replies: 46
Views: 5910

Re: My Health care monthly premiums doubled after ACA

Firing someone due to their health condition being expensive is illegal. One other note.... I spoke with our company health insurance broker and the "insider" view of why rates are going up so much for the younger/middle aged group is that the healthy young people that are "mandated&q...
by soccerdad12
Fri Nov 07, 2014 4:12 pm
Forum: Personal Consumer Issues
Topic: Anyone have a smartwatch?
Replies: 10
Views: 1410

Anyone have a smartwatch?

I was considering getting a Moto 360 android smartwatch, but have seen mixed reviews. Does anyone have one and could give their personal experience? My use cases would be: 1. Counts my steps so I don't need to wear a fitbit anymore 2. Use as GPS while driving within town 3. Potentially play audioboo...
by soccerdad12
Fri Nov 07, 2014 4:09 pm
Forum: Personal Consumer Issues
Topic: Does anyone use mozy (off site computer backup program)
Replies: 13
Views: 1685

Re: Does anyone use mozy (off site computer backup program)

I have used it for years for some business files. It works in the background and is great. I did one time, a couple of years ago, recover the files and it was very easy.
by soccerdad12
Thu Oct 23, 2014 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 5490

Re: Making an offer today

I don't understand why anyone feels the OP did something wrong with what they offered. The seller probably spent all of 1 minute deciding it wasn't viable for them. No harm, no foul. Additionally, the value of the home currently has nothing at all to do with what the seller paid for it. It may make ...
by soccerdad12
Mon Oct 20, 2014 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Attorney Hourly Rates?
Replies: 48
Views: 5071

Re: Attorney Hourly Rates?

I have paid up to $675/hr, however I try to get the person with the best "bang-for-the-buck" rather than the lowest hourly rate. In my case, the $675/hour lawyer knew exactly what the issues were in my situation and gave sage advice in 1 hour. I had a couple of exploratory conversations wi...

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