Search found 177 matches

by artgerst
Thu Aug 08, 2019 8:13 pm
Forum: Investing - Theory, News & General
Topic: Combining IRA accounts at Vanguard
Replies: 3
Views: 329

Re: Combining IRA accounts at Vanguard

Thanks Phineas for the response. Is that rule still true about not being able to move a rollover IRA into a 401k? I found this: https://www.fool.com/retirement/iras/2017/04/18/can-i-make-contributions-to-my-rollover-ira-once-i.aspx which says the IRS changed the rule and here is the IRS rule: https:...
by artgerst
Thu Aug 08, 2019 3:30 pm
Forum: Investing - Theory, News & General
Topic: Combining IRA accounts at Vanguard
Replies: 3
Views: 329

Combining IRA accounts at Vanguard

I have 3 "old" IRA accounts at Vanguard - Traditional IRA - Rollover IRA - SEP IRA My "minimalist" self wants to combine these. Should I? Pros and cons? I don't plan on putting more money into any of the three with the exception of eventually moving a 401k into an IRA account. All three have mutual ...
by artgerst
Fri Jul 19, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)
Replies: 95
Views: 11594

Re: Marcus Bank 1% Bonus for New Funds up to $50k ($500 bonus)

Read the rules several times and still confused. Let's say I already have an account at Marcus with 100k. I enrolled in this bonus plan today. If I read correctly I have 10 days to deposit money (let's say 50k). At the end of the 10 days, 1) that's when the "Enrollment Account Balance" is calculated...
by artgerst
Fri Jul 19, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Scenario on Gains / Losses
Replies: 15
Views: 967

Re: Mega Backdoor Scenario on Gains / Losses

Suppose I contribute $10k in 2019 to an after-tax 401(K), intending to do a mega backdoor. Normally, I'd do the rollover into the Roth IRA and pay any taxes on the gains. But what if the market dives (let's say the $10k becomes $5k)? Why can't you use a money market or stable value fund in the 401k...
by artgerst
Thu Jul 18, 2019 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Understanding which state to file taxes
Replies: 9
Views: 492

Re: Understanding which state to file taxes

@Admiral - No worries. Sorry I wasn't clear. We're in that (very fortunate) situation where we are in our 50's, we have kids who are older but haven't settled down, elderly parents/relatives who we would like to spend more time with, and totally unsure of where we want to live in our next stage of l...
by artgerst
Thu Jul 18, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Understanding which state to file taxes
Replies: 9
Views: 492

Re: Understanding which state to file taxes

@mcraepat9 - travel for pleasure

@Admiral - the short term lease idea is temporary to be closer to elderly members while figuring out where to plant ourselves more permanently.
by artgerst
Thu Jul 18, 2019 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Understanding which state to file taxes
Replies: 9
Views: 492

Understanding which state to file taxes

Having lived and worked in the same state for many years (and filed state taxes in the state I lived 365 days a year) I never really learned about the rules around state tax filing. Now that we are looking at the next steps in our life related to where to live I am in need of a primer on the subject...
by artgerst
Wed Jul 17, 2019 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Rant - 401k contribution mysteriously dropped
Replies: 10
Views: 1262

Re: Rant - 401k contribution mysteriously dropped

Running a company and dealing with some of this I can tell you that it could be something as simple as an entry in the new payroll system. Depending on the payroll system being used there typically is a list of deductions employees can make and the payroll system understands pre-tax, Roth 401k, and ...
by artgerst
Tue Jul 16, 2019 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Options
Replies: 7
Views: 763

Re: Home Purchase Options

^^^^^^ Excellent response with great detail. I love this forum!
by artgerst
Thu Jul 11, 2019 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Pay student loans via cash-out refinance?
Replies: 41
Views: 2055

Re: Pay student loans via cash-out refinance?

I'm sure you'll get some different advice here, but from what I read... 1) I'd stay the course. You are doing the right things and since you have been saving for 401k and Roth you could always dip into you home equity and even Roth contributions IF needed in an emergency. Your rates on debt seem goo...
by artgerst
Wed Jul 10, 2019 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: What, if any, advisors do I need?
Replies: 13
Views: 1121

Re: What, if any, advisors do I need?

1) I used a fee-only CFP otherwise or you can share more info here to get input from others.
2) Harder to use this forum since you need to know the questions to ask. I use a CPA.
3) Use a lawyer for basic question/answer session and then their template forms.
by artgerst
Mon Jul 08, 2019 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: When to find a Financial Advisor in Retirement
Replies: 20
Views: 1443

Re: When to find a Financial Advisor in Retirement

I started using one in my mid-40s. Business was doing really well and I wanted someone to validate what I was doing. Connected with a fee-only hourly advisor and it was one of the best things I ever did because: 1) although I was "doing the right things", he found some holes and areas to improve 2) ...
by artgerst
Fri Jun 28, 2019 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Pursued the wrong career?
Replies: 37
Views: 6901

Re: Pursued the wrong career?

I don't have a PhD or similar background but in my 50s, own a technology company and interview tons of people. First I would say (as a 50-year-old with children) what do you want life to be? (Sorry philosophical a bit for an IT guy). When you look back at 60/70 years of age, did you want to just hav...
by artgerst
Fri Jun 28, 2019 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Paying quarterly taxes on dividends
Replies: 5
Views: 907

Re: Paying quarterly taxes on dividends

Full disclaimer - I don't know for sure BUT I have a business and have been paying quarterly taxes for years. It's my understanding that: - in short, yes evened out between the 4 quarters, unless you can show a cash flow difference (i.e., you get no dividend in the first two, but large ones in the l...
by artgerst
Tue Jun 25, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes and Short-term Living Abroad
Replies: 4
Views: 414

Re: Taxes and Short-term Living Abroad

Have been thinking the same thing - I sent you a private message.
by artgerst
Tue Jun 18, 2019 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire in 1 year at 53
Replies: 54
Views: 9814

Re: Can I retire in 1 year at 53

Based on the numbers and your ability to do all the right things up to this point probably means you will be good about drawing the money down. Your $5mm gets you 200k a year at 4%.

I'm curious what it means to you to be retired. No working at all? What will you do?
by artgerst
Tue Jun 18, 2019 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming a CFP
Replies: 13
Views: 1384

Re: Becoming a CFP

More great info! Thank you for taking the time to respond. I actually follow Kitces already - he has great information on lots of topics, many of which apply to business owners. As for the great communication and sales skills, I actually can say I've had to learn the hard way how to grow that part o...
by artgerst
Tue Jun 18, 2019 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming a CFP
Replies: 13
Views: 1384

Re: Becoming a CFP

Thank you for the responses! I think I will take the suggestion of buying a text book first or maybe taking one class. I’m not keen on working for a few years for another company, but as suggested I would be interested in investing some money to start a business and see if I can shorten the time tha...
by artgerst
Tue Jun 18, 2019 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Becoming a CFP
Replies: 13
Views: 1384

Becoming a CFP

I searched some older posts and found this one which is similar but I'm in slightly a different situation. I'm 52 and I've had a successful IT business for many years. I'm set financially at this point (I don't need to earn more money) and I will be taking leave from my business soon. I've been thin...
by artgerst
Thu Apr 12, 2018 4:10 pm
Forum: Personal Investments
Topic: Help with understanding indexed Annuities
Replies: 2
Views: 341

Help with understanding indexed Annuities

I am helping an elderly gentleman with his assets (as a friend). He is 85 and his wife just passed away (and she knew lots of details here). They have 3 Indexed Annuities with Allianz Life insurance company. I have never dealt with annuities of any kind or investments via insurance companies so I'm ...
by artgerst
Thu Mar 29, 2018 12:34 pm
Forum: Personal Investments
Topic: Spouse to assume or inherit IRA?
Replies: 15
Views: 3513

Re: Spouse to assume or inherit IRA?

aristotelian wrote:
Thu Mar 29, 2018 11:29 am
Has surviving parent already claimed SS? One approach might be to liquidate as much of the IRA as possible before Age 70. If that is the case, RMD would not be an issue.
Actually, they have. But good idea.
by artgerst
Thu Mar 29, 2018 7:58 am
Forum: Personal Investments
Topic: Spouse to assume or inherit IRA?
Replies: 15
Views: 3513

Re: Spouse to assume or inherit IRA?

Piggybacking on this topic with the same question but related to my situation. Spouse passes age 81, remaining living spouse age 77. Living spouse does not need the distributions from the IRA. $400k in IRA. What is preferred in this case? Seems like assuming the IRA is best here but just making sur...
by artgerst
Wed Mar 28, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Assets after death
Replies: 2
Views: 660

Re: Assets after death

Thank you. Great responses.
by artgerst
Wed Mar 28, 2018 2:59 pm
Forum: Personal Investments
Topic: Spouse to assume or inherit IRA?
Replies: 15
Views: 3513

Re: Spouse to assume or inherit IRA?

Piggybacking on this topic with the same question but related to my situation. Spouse passes age 81, remaining living spouse age 77. Living spouse does not need the distributions from the IRA. $400k in IRA. What is preferred in this case? Seems like assuming the IRA is best here but just making sure...
by artgerst
Wed Mar 28, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Assets after death
Replies: 2
Views: 660

Assets after death

My mother passed away recently and I'm dealing with taking over control for my father since he is elderly and not able to do as much. I have dealt with a bunch of day to day stuff and now I'm up to the larger questions. I know many responses to this post may be "see a lawyer for help" which I will d...
by artgerst
Tue Jan 16, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Any negatives to children going on a parents deed via a lady bird deed?
Replies: 8
Views: 1354

Re: Any negatives to children going on a parents deed via a lady bird deed?

Thank you all. We've decided to go ahead with this. If in the future I figure out a negative not specified by other posters I will certainly share it.
by artgerst
Tue Jan 16, 2018 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Is Software consulting considered a services business?
Replies: 13
Views: 2346

Re: Is Software consulting considered a services business?

Bump.

I understand this may not have an answer yet, but procedurally how will this get worked out? IRS notice?
by artgerst
Sun Jan 14, 2018 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Any negatives to children going on a parents deed via a lady bird deed?
Replies: 8
Views: 1354

Re: Any negatives to children going on a parents deed via a lady bird deed?

My elderly parents live in Florida. They own a small apartment in a community and they would like me and my sibling to go on their deed via a lady bird deed to get some "minor" benefits in the community (i.e., if we are on the deed then we have some additional access to things in the community that...
by artgerst
Sun Jan 14, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Any negatives to children going on a parents deed via a lady bird deed?
Replies: 8
Views: 1354

Any negatives to children going on a parents deed via a lady bird deed?

My elderly parents live in Florida. They own a small apartment in a community and they would like me and my sibling to go on their deed via a lady bird deed to get some "minor" benefits in the community (i.e., if we are on the deed then we have some additional access to things in the community that ...
by artgerst
Sat Dec 23, 2017 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Is Software consulting considered a services business?
Replies: 13
Views: 2346

Re: Is Software consulting considered a services business?

+1

Very interested in this answer to the OP. I consider software consulting as a combination of a service and engineering, but do not know how the IRS will view it.
by artgerst
Wed Nov 22, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Should my parents convert to a Roth IRA
Replies: 8
Views: 868

Re: Should my parents convert to a Roth IRA

1) What are their current annual expenditures, approximately? 2) Father's SS? 3) Mother's SS? 4) Can you confirm their RMD is about $43,000? 5) Is the other $7k of AGI is from interest and dividends on the taxable $250k? Assuming 4) above, I'm not really sure how they got from $50k AGI to $20k taxa...
by artgerst
Wed Nov 22, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Should my parents convert to a Roth IRA
Replies: 8
Views: 868

Re: Should my parents convert to a Roth IRA

chevca wrote:
Wed Nov 22, 2017 10:04 am
How many grandchildren.... and what about you/the children in between?
6 grandchildren - 3 from each child
The kids (my and sibling) are very good financially - i.e., don't need the money. This is mostly to take care of my fathers wishes.
by artgerst
Wed Nov 22, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Should my parents convert to a Roth IRA
Replies: 8
Views: 868

Re: Should my parents convert to a Roth IRA

Yes, so is she, unfortunately. My father made the decision for a no-survivor benefit years ago without my input and someone told him that the numbers work out better if he takes the "extra" money and buy a whole life insurance plan :(. Years later we changed that plan to just put the money into a se...
by artgerst
Wed Nov 22, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Should my parents convert to a Roth IRA
Replies: 8
Views: 868

Should my parents convert to a Roth IRA

My parents are both 80 years old, both with health issues, my father much more serious. My father asked me to look into whether or not to convert their Traditional IRAs to a Roth IRAs. He understands this is mostly to benefit his heirs - specifically his grandchildren. i.e., wants to leave money to ...
by artgerst
Tue Nov 14, 2017 4:08 pm
Forum: Personal Investments
Topic: Mega Backdoor Roth IRA - what to do with gains?
Replies: 19
Views: 3730

Re: Mega Backdoor Roth IRA - what to do with gains?

Sorry, disregard last post. I must be getting old. I already asked this question:

viewtopic.php?f=2&t=211490&p=3250081#p3249900
by artgerst
Tue Nov 14, 2017 3:57 pm
Forum: Personal Investments
Topic: Mega Backdoor Roth IRA - what to do with gains?
Replies: 19
Views: 3730

Re: Mega Backdoor Roth IRA - what to do with gains?

I'm piggybacking off of this topic since it's very related. I did my first Mega Backdoor Roth IRA this year (early 2017). Here are the details: - Assume $20k in contributions to after-tax 401k and $1.00 in income from that contribution at the time of transfer - Moved from TRP to Vanguard - Had Vangu...
by artgerst
Sun Jun 18, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Fiduciary Rule and its impact towards a 401k plan as the trustee
Replies: 8
Views: 1103

Re: Fiduciary Rule and its impact towards a 401k plan as the trustee

You do have a duty to monitor plan investments but since the whole point of an index fund is to market, a fiduciary shouldn't care whether the index fund goes up or down with the market but may have a duty to ensure the fund is tracking the index, whether there is a less expensive index fund that t...
by artgerst
Fri Jun 16, 2017 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Fiduciary Rule and its impact towards a 401k plan as the trustee
Replies: 8
Views: 1103

Fiduciary Rule and its impact towards a 401k plan as the trustee

I run a company and we have a 401k plan with TRowe Price. They essentially run the plan (Compliance, 5500 forms, etc). I guess I am the trustee (I think that's the right term). I contribute to the plan for my employees based on pre-tax withholdings. Recently TRowePrice called me to warn me about the...
by artgerst
Tue Jun 06, 2017 12:23 pm
Forum: Personal Consumer Issues
Topic: Traveling for 3 weeks
Replies: 17
Views: 2452

Re: Traveling for 3 weeks

2 & 3 - you really would be advised to read the small print. Does 2) specify coverage for a sick relative? For 3), "good enough" is never good enough when it comes to healthcare overseas. United may not consider a slip-and-fall to be an emergency. I would advise splashing out fifty bucks or whateve...
by artgerst
Tue Jun 06, 2017 11:12 am
Forum: Personal Consumer Issues
Topic: Traveling for 3 weeks
Replies: 17
Views: 2452

Traveling for 3 weeks

I know I've run across a few topics on this subject, but I can't seem to find them now (please add link to my questions if you can find them). We are traveling to Europe for 3 weeks. I need help with the following 3 topics: 1) House - in the past before I leave my house for a 3 week vacation I will ...
by artgerst
Sun May 28, 2017 9:06 pm
Forum: Personal Investments
Topic: Roth or Traditional 401(k) (TSP) for My Situation
Replies: 12
Views: 1650

Re: Roth or Traditional 401(k) for My Situation

First, thank you for your service to this country. I guess some of the obvious statements would be that if you are likely to be married soon your life may change a bit - spouse = other expenses, credit questions, children, children's college, etc. You get the point. Hard to plan. In general, I would...
by artgerst
Wed May 10, 2017 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Book recommendation?
Replies: 8
Views: 1465

Re: Book recommendation?

I bought Jane Bryant Quinn's book and so far so good. Thank you all for your replies.
by artgerst
Wed May 10, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits
Replies: 7
Views: 1358

Re: Social Security - Spousal Benefits

. . . dad age 80, mother age 76 - only marriage - married for decades . . . My father receives $2000/month and my mother receives $800/month. Both my parents worked for many years, with my mother having breaks in her employment . . . 1) In what I have read I believe my mother should be getting the ...
by artgerst
Tue May 09, 2017 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits
Replies: 7
Views: 1358

Social Security - Spousal Benefits

I'm going through some of the financial details with my parents (dad age 80, mother age 76 - only marriage - married for decades). I'm looking at their social security benefits and not being personally close to retirement age I'm not familiar with social security benefits, particularly spousal benef...
by artgerst
Sun May 07, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Book recommendation?
Replies: 8
Views: 1465

Re: Book recommendation?

livesoft wrote:Jane Bryant Quinn's How to Make Your Money Last
Thank you! Funny, I've been searching on Amazon for a while (reading TOCs and looking for lots of stars) and didn't see this one.
by artgerst
Sun May 07, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Book recommendation?
Replies: 8
Views: 1465

Book recommendation?

Can someone recommend a book(s) the discusses the following topics related to individuals leading up to retirement and dealing with parents in retirement? I know many of these items are discussed here but looking for a book(s) to suggest to a friend: 1) health care in retirement - strategies of deal...
by artgerst
Wed May 03, 2017 8:23 pm
Forum: Personal Consumer Issues
Topic: Cost of Estate Planning
Replies: 33
Views: 5694

Re: Cost of Estate Planning

I know the OP was asking for those who use an attorney (which I'm not one of them), but my response may help in some way. I'm still very "untrusting" of the estate planning process and haven't taken the next step into getting a lawyer for estate planning or specific documents (I do have a will, livi...
by artgerst
Sat Apr 29, 2017 3:56 pm
Forum: Personal Investments
Topic: Grandparents helping with College tuition
Replies: 27
Views: 2942

Re: Grandparents helping with College tuition

If you are paying a good chunk of it or the whole thing AND you are not really worried about earnings on these and any difference in earnings between the kids given the time difference I would probably do a combination of UTMA and a 529 plan. This way their parents with the kids can decide what best...
by artgerst
Fri Apr 07, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA conversion for a retired couple
Replies: 11
Views: 1111

Re: Roth IRA conversion for a retired couple

When you do a conversion how does that impact his tax rate? Whatever they convert will be added to taxable income. Convert $50k and that adds $50k to taxable income. If they are not already paying tax on the max of SS (up to 85% can be taxable), this will surely push them up to that level. I would ...