Search found 25 matches

by zeigler2010
Fri Sep 17, 2021 9:36 pm
Forum: Personal Investments
Topic: Traditional a Roth and a 401K
Replies: 7
Views: 1096

Re: Traditional a Roth and a 401K

So I rolled one of my previous employer 401ks over, which is my Traditional IRA and it has about 40k in it. I probably should've done this a long time ago, but should I contribute to this traditional or what if I converted it and transferred the balance to my existing Roth? If I shouldn't do that for tax implications, should I contribute to it, and if so, how should I allocate my distributions between the Roth and Trad? More money towards the Roth? (I pretty much am aware I should be contributing more to the Roth then the trad, but just asking stupid questions to verify I'm on the right idea) also to verify, between both I can only contribute $6000 the entire year between both? Thanks Yes, you can only contribute $6k per year in total to I...
by zeigler2010
Fri Sep 17, 2021 3:05 pm
Forum: Personal Investments
Topic: Traditional a Roth and a 401K
Replies: 7
Views: 1096

Re: Traditional a Roth and a 401K

So I rolled one of my previous employer 401ks over, which is my Traditional IRA and it has about 40k in it. I probably should've done this a long time ago, but should I contribute to this traditional or what if I converted it and transferred the balance to my existing Roth? If I shouldn't do that for tax implications, should I contribute to it, and if so, how should I allocate my distributions between the Roth and Trad? More money towards the Roth? (I pretty much am aware I should be contributing more to the Roth then the trad, but just asking stupid questions to verify I'm on the right idea) also to verify, between both I can only contribute $6000 the entire year between both? Thanks Yes, you can only contribute $6k per year in total to I...
by zeigler2010
Fri Sep 17, 2021 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

My advice would be to rip off the band-aid now. Surrender the USAA VA, pay the taxes, and invest going forward in a taxable account. Or even better, a Roth. Okay, sounds like a plan. Even right after the guy talked me into it and I hung up the phone I was questioning why I just did that but thought he was "looking after me." Dummy. Thank you for the advice! Best to you. Let us know if you have any questions as you move through the process. I worked for a major life insurance company for my entire career. The sales guys always used to say "Life insurance and annuities are not BOUGHT - they are SOLD". It sounds like you were definitely SOLD on the annuity. :oops: Lol the taxes were like $700. Thanks for the advice.
by zeigler2010
Fri Sep 17, 2021 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

I guess you may have a current or former military connection if you’re with USAA. If so, check out Navy Mutual Aid Association’s Flexible Premium Retirement Annuity as a potential vehicle to roll it over to. Pays bond-like interest, so very low right now. But I’ve seen it quite a bit higher in years past. Negligible expenses. Probably not the ideal situation for you but it could be an acceptable annuity alternative. navymutual.org I'm ex Army. Ya, I just saw your message. I just took Stinky's advice and pulled the money out. It was only 12k, the taxes on it was around $700. I asked USAA what other idea they had, but their newer annuities we're like 1.5% apy for three years, etc. Basically just CD account without any market factored into it...
by zeigler2010
Fri Sep 17, 2021 2:54 pm
Forum: Personal Investments
Topic: Traditional a Roth and a 401K
Replies: 7
Views: 1096

Traditional a Roth and a 401K

So I rolled one of my previous employer 401ks over, which is my Traditional IRA and it has about 40k in it. I probably should've done this a long time ago, but should I contribute to this traditional or what if I converted it and transferred the balance to my existing Roth?

If I shouldn't do that for tax implications, should I contribute to it, and if so, how should I allocate my distributions between the Roth and Trad? More money towards the Roth? (I pretty much am aware I should be contributing more to the Roth then the trad, but just asking stupid questions to verify I'm on the right idea) also to verify, between both I can only contribute $6000 the entire year between both?

Thanks
by zeigler2010
Sat Sep 11, 2021 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Genitrust
Replies: 8
Views: 777

Re: Genitrust

Thanks everyone. Figured it'd be too good to be true. I emailed them earlier last week:

Thank you for your Interest with Genitrust Savings

We are upgrading our Technology and Security to better serve you.

Due to these Upgrades, at this time onboarding customers is on a brief hold.

Our Banking partners will be up to date once upgrades are complete.

Sign up for our newsletter so you will be the first to know when
you can make a deposit.

To receive our newsletter, respond to this email with “sign me up!"

-Krissy
Genitrust Savings


She flat out ignored my questions when I asked who the bank is that they're partnered with so I can check their FDIC credentials. 🧐🧐🧐
by zeigler2010
Thu Sep 09, 2021 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Genitrust
Replies: 8
Views: 777

Re: Genitrust

prd1982 wrote: Thu Sep 09, 2021 9:30 am I suspect this will be used for elder abuse
Not sure. You have to use an app, so that's def not elder friendly...

I emailed them to see who their partner bank is to see if they're legit FDIC
by zeigler2010
Thu Sep 09, 2021 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Genitrust
Replies: 8
Views: 777

Genitrust

Have any of you heard of this place? It's located in Sarasota, FL and is offering 12% APY on your savings. It's called a "Hyper-savings" account. :shock: :shock: :shock:
by zeigler2010
Thu Sep 09, 2021 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

Cigarman wrote: Thu Sep 09, 2021 6:42 am 1. Listen to Stinky, he knows what he is talking about.

2. NEVER buy any investment vehicle unless you understand it 100%. Use this forum to ask questions BEFORE investing, it is a financial life saver.

2. Yeah, I called in to ask about something, I think when I had MFs with them. They then transferred me to the insurance guy when they asked questions regarding it. Guy talked me into it. I had no idea what it really was. I think at that time, companies were really pushing annuities (this was 2013-2014ish) for stability over stocks around that time frame. Sad thing is, I would have made more in a freaking CD in this time frame as opposed to the annuity.
by zeigler2010
Thu Sep 09, 2021 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

I’d surrender the annuity and invest the proceeds in a Roth IRA, or a taxable account if you’ve already maxed out your Roth. Yes, you’ll pay regular income taxes on the earnings, plus a 10% additional tax on the earnings. But if you’ve made just 1% per year, the earnings couldn’t be that large. That was def an option, but if I can possibly roll it over to a different insurance company, that would be more ideal. If annuities make sense of course. An insurance agent said annuities are usually something only the rich get. lol I'm def not one of those. Yes, you could do a 1035 exchange from the USAA annuity into a low-cost variable annuity. As mentioned in a previous post in this thread, Fidelity has one of the lowest cost variable annuities. ...
by zeigler2010
Thu Sep 09, 2021 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Would this be a extremely bad purchase? (Sport Car)
Replies: 212
Views: 15380

Re: Would this be a extremely bad purchase? (Sport Car)

Do you two know the same guy?
[/quote]

lol I'm not taking shots at OP. It sounds like so many guys where I live. Southern Cali
by zeigler2010
Wed Sep 08, 2021 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Would this be a extremely bad purchase? (Sport Car)
Replies: 212
Views: 15380

Re: Would this be a extremely bad purchase? (Sport Car)

There's a guy down the street that lives with his parents. He bought a Tesla with personalized plates. He has had two sets of plates... One said "Sup Girl" and the other said "No Hanz"


- He sounds like a tool
by zeigler2010
Wed Sep 08, 2021 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Outlet Finance
Replies: 3
Views: 641

Outlet Finance

Hello,

Does anyone here have first-hand experience with Outlet Finance DeFi? If so, thoughts on the platform and the returns/stability?
by zeigler2010
Wed Sep 08, 2021 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

You don’t mention how much money is in the annuity. If you have been contributing $115/month for 7 years, it should be about $10,000 or so. You could transfer it to a Fidelity Personal Retirement Annuity & put it into the total stock market index. The annual annuity fee is .25% & the total stock market index fund expense ratio is .12%, which is very competitive. If you transfer it to Fidelity & put it in a stock mutual fund earning an average of 7%/year, after 30 years, it would be worth about $70k in 2050 dollars. Not much, but better than nothing. bill "If you transfer it to Fidelity & put it in a stock mutual fund earning an average of 7%/year, after 30 years, it would be worth about $70k in 2050 dollars. " - S...
by zeigler2010
Wed Sep 08, 2021 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

Stinky wrote: Wed Sep 08, 2021 10:18 pm I’d surrender the annuity and invest the proceeds in a Roth IRA, or a taxable account if you’ve already maxed out your Roth.

Yes, you’ll pay regular income taxes on the earnings, plus a 10% additional tax on the earnings. But if you’ve made just 1% per year, the earnings couldn’t be that large.
That was def an option, but if I can possibly roll it over to a different insurance company, that would be more ideal. If annuities make sense of course. An insurance agent said annuities are usually something only the rich get. lol I'm def not one of those.
by zeigler2010
Wed Sep 08, 2021 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Re: Variable Annuity

Hello, Question as to what I should do. So I purchased an annuity 7 years ago not really knowing, and still not really knowing what the hell I bought. Fast forward to today, I have passed the penalty phase, but if I remove money I will be taxed on it. TBH, it's only netting me like 1% APY, so not great. Should I continue to put cash in this? Is it worth it? OR should I take the 10% penalty and get my pay out then put the amount towards something else; or, move it to a different annuity that tracks the S&P, etc? I can also just leave it, stop contributing towards it and use the extra $115/month towards my brokerage or Roth...Thoughts? THankss What is the exact name of the annuity? Do you know the fees you are being assessed on the accou...
by zeigler2010
Wed Sep 08, 2021 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Variable Annuity
Replies: 16
Views: 1864

Variable Annuity

Hello,

Question as to what I should do. So I purchased an annuity 7 years ago not really knowing, and still not really knowing what the hell I bought. Fast forward to today, I have passed the penalty phase, but if I remove money I will be taxed on it. TBH, it's only netting me like 1% APY, so not great. Should I continue to put cash in this? Is it worth it? OR should I take the 10% penalty and get my pay out then put the amount towards something else; or, move it to a different annuity that tracks the S&P, etc? I can also just leave it, stop contributing towards it and use the extra $115/month towards my brokerage or Roth...Thoughts?

THankss
by zeigler2010
Sun Jun 25, 2017 2:57 pm
Forum: Personal Investments
Topic: Old 401k
Replies: 4
Views: 1096

Re: Old 401k

Bonds in traditional is the approach most often recommended. If you have the space in Roth and traditional to obtain your desired AA, I would start there. Where to put your mix of US and International is less debated. I hold all my international in tax deferred and hold nothing but total stock market in Roth. That's just me, it doesn't mean this is the best approach.[/quote] Is it generally not a good idea to mirror portfolios? Meaning, using the same funds in each account? IE total stock, total international, and a bond index fund. This is mainly my reason why my ideal choice would be to roll my old 401k into the new one once it becomes available. I feel like having three accounts invested in the same thing is overkill, but I could be wrong?
by zeigler2010
Sat Jun 24, 2017 8:32 pm
Forum: Personal Investments
Topic: Old 401k
Replies: 4
Views: 1096

Old 401k

Hello, fellow Bogleheads. As my subject states, I have a question regarding my former employers 401k that is fully-vested. Unfortunately, my new employer doesn't allow new employees access to a plan until one-year of employment. I already know my options, and I'm contemplating on what to do with the account. It's currently invested in a low expense S&P500, international, and bond index funds. My question to you would be: If this is your account what would you do? I can, of course, stay-put and incur a $50 fee/year until I can move the funds to my current employer's plan (which I still am not 100% positive I can). Obviously, this is the ideal choice, but then again, that also depends on what funds the plan will include. I could also keep...
by zeigler2010
Sun Nov 29, 2015 10:15 am
Forum: Personal Investments
Topic: Question regarding index
Replies: 9
Views: 1477

Re: Question regarding index

ruralavalon wrote:
zeigler2010 wrote:Hello,
Simpler with no overlap:
BlackRock S&P 500 Index Fund;
Vanguard Total International Stock Market Index Fund; and
Vanguard Total Bond Market Index Fund.
Hello Rural. So since these funds are already in my 401k, is it a good idea to invest my IRA and taxable accounts into the same exact funds? Thanks
by zeigler2010
Sun Nov 29, 2015 10:14 am
Forum: Personal Investments
Topic: Question regarding index
Replies: 9
Views: 1477

Re: Question regarding index

RadAudit wrote:Welcome to the forum.
You may wish to read the linked article and the first post on the attached thread.

https://www.bogleheads.org/wiki/Three-fund_portfolio and viewtopic.php?f=10&t=88005

And, this booklet

https://gallery.mailchimp.com/34a7cea33 ... 03ee20.pdf

Thanks for the links RadAudit. Reading the book as we speak.
by zeigler2010
Sun Nov 29, 2015 10:06 am
Forum: Personal Investments
Topic: Question regarding index
Replies: 9
Views: 1477

Re: Question regarding index

By MUF I meant MUTF. Apologies.

The ER's are as follows:

BSPIX 0.11%
VTIAX 0.14%
VBTLX 0.07%
PRDGX 0.65%

Much better ER then what I'm charged at USAA. What percentage of International influence should I have? I put my percentage at about 50% in the S&P, 20% International, 15% Bond, 15% T. Rowe Price Dividend.

Has anyone had experience with a Universal Health Insurance Policy? I was approached recently by a financial advisor who tried to sell me a policy (never once mentioned it being a Uni Health plan, however, I knew what he was selling me) that I could use as financial income, without the risk of stock, at a later date. Are they legit?
by zeigler2010
Sat Nov 28, 2015 8:33 pm
Forum: Personal Investments
Topic: Question regarding index
Replies: 9
Views: 1477

Re: Question regarding index

Sorry, I wrote this post at work in a hurry: Emergency funds: Yes Debt: No Tax Filing Status: Single Tax Rate: 25% Federal, 5.525% New Jersey State of Residence: New Jersey Age:31 Desired Asset allocation: 80% stocks / 20% bonds Desired International allocation: ??? help with this? So my portfolio in USAA stands as so: IRA: USSPX ER 0.26, USMIX ER 0.48 (Large cap 72.19%, Small and Mid 27.81%) MUF: USNQX ER 0.59%, USSCX ER 1.24% Annunity: Flexible Annunity 1.000% Interest 401K w/ company match to 5%, currently contributing 6% with percentage increasing one percent every year. (I also plan to contribute to the company ESPP next year) Blackrock S&P500 BSPIX, Van guard total Internationl VTIAX, Vanguard Total Bond Index VBTLX (I do not have...
by zeigler2010
Sat Nov 28, 2015 7:05 am
Forum: Personal Investments
Topic: Question regarding index
Replies: 9
Views: 1477

Question regarding index

Hello,


First time poster here. I have a question, I tried searching for, but didn't come up with anyone asking already. Is it a good idea to have holdings in both the S&P500, NASDAQ, and the Dow index funds? I have a 401k that I invest in blackrock s&p500, t rowe price dividend growth fund, vanguard total int'l index, vanguard index bonds, a Roth IRA in s&p500 and Dow, and a separate mufd in NASDAQ. Is that too much in one basket? Lol thanks