Search found 22 matches

by szhman
Fri Jan 13, 2017 10:41 am
Forum: Investing - Help with Personal Investments
Topic: Best use of HSA funds
Replies: 21
Views: 3173

Re: Best use of HSA funds

Just happened to see this. Thanks for the details grabiner. I do contribute to HSA and making full contributions to HSA (also maxing out IRA/Mega backdoor) for the past 2 years. I had a medical emergency this past year and paid multiple claims (approx. total $3200.00) from the HSA contribution (deb...
by szhman
Thu Jan 12, 2017 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: Best use of HSA funds
Replies: 21
Views: 3173

Re: Best use of HSA funds

I am planning on letting the money sit and hopefully grow in my HSA. I am in my mid 30s and in good health. I still have a lot of room until I reach my deductible for the year in terms of savings in the HSA. I wasn't sure if I should leave the funds sitting in the HSA as cash, or start investing th...
by szhman
Fri Jan 06, 2017 7:22 pm
Forum: Investing - Theory, News & General
Topic: Vanguard backdoor ROTH - Exchange vs Convert to Roth options
Replies: 10
Views: 1521

Re: Vanguard backdoor ROTH - Exchange vs Convert to Roth options

Thank you all. I did proceed with 'Convert to Roth IRA' menu options and the request went fine.
by szhman
Thu Jan 05, 2017 11:21 pm
Forum: Investing - Theory, News & General
Topic: Vanguard backdoor ROTH - Exchange vs Convert to Roth options
Replies: 10
Views: 1521

Re: Vanguard backdoor ROTH - Exchange vs Convert to Roth options

In prior years, before moving to the new consolidated Vanguard brokerage accounts, this (backdoor Roth every January) was very straightforward. After moving money into non-deductible Traditional IRA settlement fund from online savings account... We did one-step, an "exchange" from money m...
by szhman
Thu Jan 05, 2017 6:06 pm
Forum: Investing - Theory, News & General
Topic: Vanguard backdoor ROTH - Exchange vs Convert to Roth options
Replies: 10
Views: 1521

Vanguard backdoor ROTH - Exchange vs Convert to Roth options

The procedure (backdoor Roth conversion) for high income people that are precluded from contributing to the Roth IRA directly. So, they contribute to a traditional IRA (as a non-deductible amount), and then within few days convert that to Roth IRA. My question is about menu options in Vanguard site....
by szhman
Wed Nov 30, 2016 9:05 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth IRA - In service Withdrawal
Replies: 26
Views: 2155

Re: Mega Backdoor Roth IRA - In service Withdrawal

Is the 401k administrator able to rollover this after-tax amount into an Roth IRA at their institution? For example, if Fidelity is your 401k administrator, then have them rollover the AT amount to a Roth IRA for you (they have to open a Roth IRA account, which is simple). Then you can transfer tha...
by szhman
Wed Nov 30, 2016 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth IRA - In service Withdrawal
Replies: 26
Views: 2155

Re: Mega Backdoor Roth IRA - In service Withdrawal

They are correct that you can do anything you want with a distribution check, but then you will have to replace the amount that they are required to withhold to complete the rollover. Making you deal with the withholding issue could be avoided if you insisted on direct rollovers. The number of dire...
by szhman
Wed Nov 30, 2016 7:56 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth IRA - In service Withdrawal
Replies: 26
Views: 2155

Re: Mega Backdoor Roth IRA - In service Withdrawal

First of all, you don't contribute to a mega back door roth IRA. You contribute to an "after-tax" account within your 401k (not to be confused with Roth 401k), if your 401k allows for the after-tax contributions. Then, if your 401k should allow an in-service distribution, you will be able...
by szhman
Tue Nov 29, 2016 9:21 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth IRA - In service Withdrawal
Replies: 26
Views: 2155

Mega Backdoor Roth IRA - In service Withdrawal

I have been contributing mega back door roth IRA this past 2 years. Currently I am in a unique situation and trying to a in-service withdrawal (rollover) from my corp to Vanguard. The details are as follows: Estimate of Requested Withdrawal Type Estimated Amount Non-Taxable Amount $16,057.07 Taxable...
by szhman
Tue Apr 07, 2015 5:00 pm
Forum: Investing - Help with Personal Investments
Topic: Excess 401K contribution and corrections
Replies: 8
Views: 1451

Re: Excess 401K contribution and corrections

OK. Thanks. I think I get it now. Not using turbotax just because of the excess contribution. Just the first time I'm using turbotax and was wondering how to enter it. Thanks again.
by szhman
Tue Apr 07, 2015 3:08 pm
Forum: Investing - Help with Personal Investments
Topic: Excess 401K contribution and corrections
Replies: 8
Views: 1451

Re: Excess 401K contribution and corrections

Thanks for the help. I have received the check from Fidelity a week ago ($59.79 for the year 2014). So, here's my understanding: 1. We don't make any changes in W2 and my wife's 401k contribution will still be $17559.79 for the year 2014. I haven't submitted the taxes yet and working with turbotax d...
by szhman
Tue Apr 07, 2015 9:31 am
Forum: Investing - Help with Personal Investments
Topic: Excess 401K contribution and corrections
Replies: 8
Views: 1451

Excess 401K contribution and corrections

My wife made an excess traditional 401k contribution of $59.79 for the year 2014. Fidelity sent a check and HR explained it as below. Now the question is, what should we do in 2014 tax filing and what needs to be done on 2015. It is confusing to me and seeking your help. Thanks. HR wrote: A Return o...
by szhman
Wed Dec 17, 2014 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - Vanguard Dividend posted later
Replies: 4
Views: 661

Re: Backdoor Roth IRA - Vanguard Dividend posted later

It is difficult to recommend funds for Roth IRA without information about what other investment accounts you have. Here's a post called Asking Portfolio Questions which will tell you what information to include and what format to post in. Once readers see what investment options and holdings you ha...
by szhman
Wed Dec 17, 2014 2:17 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - Vanguard Dividend posted later
Replies: 4
Views: 661

Re: Backdoor Roth IRA - Vanguard Dividend posted later

Wait for a day or two. Those stranded dividends may shift to the Roth IRA without any action. I have done several fund exchanges over the years where I exchanged all shares and the stranded stuff moves later. I've exchanged taxable to taxable, IRA to IRA and from TIRA to Roth IRA (conversion). If y...
by szhman
Wed Dec 17, 2014 1:17 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - Vanguard Dividend posted later
Replies: 4
Views: 661

Backdoor Roth IRA - Vanguard Dividend posted later

My wife did the TIRA to Roth IRA conversion (to complete backdoor Roth IRA) by following the steps here and I do have a 'Dividend' related question. 1. Opened TIRA and deposited $5500.00 2. Opened Roth IRA and called Vanguard Rep to walk through Backdoor conversion. 3. Click the 'TIRA' account and p...
by szhman
Wed Dec 10, 2014 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: The Mega Backdoor Roth IRA
Replies: 401
Views: 134130

Re: The Mega Backdoor Roth IRA

The back door requires a Form 8606. The mega back door does not require Form 8606 when you do it and in fact, there is no place to put that information on the form when you do the rollover. However, as I understand it, when you start withdrawing from the Roth IRA that received the mega back door ro...
by szhman
Sat Dec 06, 2014 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: The Mega Backdoor Roth IRA
Replies: 401
Views: 134130

Re: The Mega Backdoor Roth IRA

Excellent thread. First time to mega back door. I understand for back door, I have to fill-in 8606 forms.

Do I need to fill-in in a separate tax form when I do mega backdoor. Please let me know and appreciate all your updates.
by szhman
Thu Sep 11, 2014 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: New to investing and need assistance - 401k rollover
Replies: 9
Views: 720

Re: New to investing and need assistance - 401k rollover

In my opinion, its going to be best to transfer the old Wells Fargo 401k into her new 401k at Fidelity, rather than to a rollover IRA. In the new 401k she can get all of the core domestic index funds at expense ratios as low as, or a bit lower than, she could get at Vanguard -- VANGUARD INST INDEX ...
by szhman
Wed Sep 10, 2014 8:47 pm
Forum: Investing - Help with Personal Investments
Topic: New to investing and need assistance - 401k rollover
Replies: 9
Views: 720

Re: New to investing and need assistance - 401k rollover

Can you also list the expense ratios for -- SPTN INTL INDEX ADV (FSIVX) PIM TOTAL RT INST (PTTRX) VANG TOT BD MKT INST (VBTIX) if as low as expense ratios you have Listed so far, then its probably going to be best to transfer the old Wells Fargo 401k into her new 401k at Fidelity, rather than to a ...
by szhman
Wed Sep 10, 2014 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: New to investing and need assistance - 401k rollover
Replies: 9
Views: 720

Re: New to investing and need assistance - 401k rollover

Performance wise, the following are looking better. Kindly suggest if this is the right thing to do. Thanks for all your follow-ups. Much appreciated. INVS GRTH & INC R6 (GIFFX) - Fee 0.4% VANGUARD INST INDEX (VINIX) - Fee 0.04% VANG MIDCAP IDX INST (VMCIX) - Fee 0.08% VANG SM CAP IDX ADM (VSMA...
by szhman
Wed Sep 10, 2014 6:40 pm
Forum: Investing - Help with Personal Investments
Topic: New to investing and need assistance - 401k rollover
Replies: 9
Views: 720

Re: New to investing and need assistance - 401k rollover

Yes. We can move funds to Fidelity and that's allowed. Thanks again for your help. Here's the list of available funds in Fidelity. FID CONTRAFUND K (FCNKX) HARBOR CAP APPR INST (HACAX) INVS GRTH & INC R6 (GIFFX) VANGUARD INST INDEX (VINIX) FID LOW PRICED STK K (FLPKX) PRU/J MID CAP GRTH Q (PJGQX...
by szhman
Wed Sep 10, 2014 9:34 am
Forum: Investing - Help with Personal Investments
Topic: New to investing and need assistance - 401k rollover
Replies: 9
Views: 720

New to investing and need assistance - 401k rollover

Hi, I am new to this forum and need your expert advice on 401k rollover. DW has previous employer's 401k at Wells Fargo - $30K (Rate of return this year 4%) - Not satisfied with the WF portfolio. Now DW works for different employer and contributes to 401k with Fidelity. Better portfolio/funds here t...

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