Search found 232 matches

by metrunt
Sun Jun 17, 2018 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: How much (green) cash at home for emergency ?
Replies: 100
Views: 7198

Re: How much (green) cash at home for emergency ?

I aim for $5K to $10K. I have found it very handy. One time I transferred a lump sum into a 529 account and realized I initiated it not from my brokerage account but from my checking and was going to overdraw. I was able to put the cash in immediately and prevent an overdraft. Also, needing cash to ...
by metrunt
Sat Jun 16, 2018 5:13 pm
Forum: Personal Consumer Issues
Topic: Standard buyer's remorse or poorly timed enlightenment?
Replies: 40
Views: 3443

Re: Standard buyer's remorse or poorly timed enlightenment?

Selling it seems rash.

What about renting it? Time the lease so you can move back in when it's time to register for school. Move back into the rent-free option and make money rather than lose it.

I'm assuming the $30K hit is due to transaction costs and not a drop in home value?
by metrunt
Thu Jun 14, 2018 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Allowance [Giving allowance to child]
Replies: 28
Views: 2163

Re: Allowance [Giving allowance to child]

10 yo gets $5 a week. He does chores, but his allowance is not tied to whether he does them or not. We use allowance as an opportunity to understand aspects of money. Primarily, tracking income and expenses, and planning to have cash on hand. Any amount he wants to put into his college fund, I'll ma...
by metrunt
Sun Jun 10, 2018 9:49 pm
Forum: Personal Consumer Issues
Topic: How much to invest in elementary education?
Replies: 37
Views: 2407

Re: How much to invest in elementary education?

Our district elementary school doesn't get the best grades and my oldest child who will be going there next year is advanced in that she was reading at 4, has an amazing memory and likes to learn. She's also sensitive and shy/reserved especially in a school setting. The school one district over wou...
by metrunt
Tue Jun 05, 2018 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth & self directed solo 401k
Replies: 27
Views: 1602

Re: Mega backdoor Roth & self directed solo 401k

Yes, I do have a third account. I didn't understand how it factored in (I thought it was just if I didn't meet the after-tax threshold, then there'd be no need to backdoor). So, I just put the after-tax contribution into the after tax account, then move it into the Roth account? That is 1000x easier...
by metrunt
Tue Jun 05, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth & self directed solo 401k
Replies: 27
Views: 1602

Re: Mega backdoor Roth & self directed solo 401k

"Do you really understand all the 401k rules, recordkeeping and reporting requirements?" No, most definitely not. But I do enjoy learning about finance and tax law. I am working with the wonderful guys at mysolo401k.net and my bookkeeper to understand it all. I'm mostly double checking their work. B...
by metrunt
Mon Jun 04, 2018 3:52 pm
Forum: Investing - Help with Personal Investments
Topic: 529: short term
Replies: 6
Views: 593

Re: 529: short term

$28K per year for 2 years gets you 3x expenses? So, we're looking at $20K per year per kid? $40K per year? If you're in a great school district, I'd say send them to public school. The student-teacher ratio can be important, but a good school is a good school, that's already factored in. And K-2 is ...
by metrunt
Mon Jun 04, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth & self directed solo 401k
Replies: 27
Views: 1602

Mega backdoor Roth & self directed solo 401k

I am poised to make contributions in order to get the benefits of a Mega Backdoor Roth. I'm a little confused on the actual process. The two websites give different advice. https://momanddadmoney.com/mega-backdoor-roth-ira/ https://thecollegeinvestor.com/17561/understanding-the-mega-backdoor-roth-ir...
by metrunt
Fri Jun 01, 2018 11:37 am
Forum: Personal Consumer Issues
Topic: belize with kids -- advice?
Replies: 8
Views: 826

Re: belize with kids -- advice?

I don't know about Placencia, but my family of 5 spent a week at Hamanasi in Hopkins and it was wonderful. The resort is top notch but the general area is much less resorty as a whole than Placencia.
by metrunt
Fri Jun 01, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: what to do with inheritance
Replies: 9
Views: 1384

Re: what to do with inheritance

Sounds like you should move to a LCOL area. You're not making very much income, not enough to justify living in Austin.

Buying an RV is not economical choice at this stage. Have you ever owned/lived/travelled in one? It can be hard living and more expensive than many expect.
by metrunt
Thu May 31, 2018 12:20 am
Forum: Personal Finance (Not Investing)
Topic: Source for Self-Directed IRA Investors
Replies: 1
Views: 207

Re: Source for Self-Directed IRA Investors

That's a pretty niche community. You should try BiggerPockets if you haven't already. It's a giant community, but with a lot of sub groups, including savvy investors. Any reason your looking at self directed 401kers rather than private money in general? I don't see that as a pre-req.
by metrunt
Wed May 30, 2018 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Bored and Anxiety from Work - What to do?
Replies: 13
Views: 2764

Re: Bored and Anxiety from Work - What to do?

Sounds like you should be doing exactly what you are. Starting or acquiring businesses, giving them a running start, and then exiting. It's a perfectly fine role to play.
by metrunt
Wed May 30, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 8437

Re: Can we retire in 2018?

Sounds like you're already going to look deeper into this, but I suspect you're best SS strategy will be for you and your wife to both file at the same time, and that time is when your wife hits her FRA.
by metrunt
Wed May 30, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: How much is a Roth worth?
Replies: 14
Views: 2437

Re: How much is a Roth worth?

It's not clear how you have the ability to decide whether to pay SE taxes on a specific set of income/compensation, and why this affects your ability to contribute to a Roth (via whatever method). I am not asking for advice in my specific situation (though the answer has to do with deciding how to ...
by metrunt
Wed May 30, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: How much is a Roth worth?
Replies: 14
Views: 2437

Re: How much is a Roth worth?

I'm interested in the value of a Roth-style tax advantaged retirement account. Nothing about account fees or actual Roths. This isn't traditional vs Roth question. Is paying taxes now to convert the IRA "worth it" to be able to make subsequent Roth IRA contributions for a period of X years? This is ...
by metrunt
Tue May 29, 2018 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: How much is a Roth worth?
Replies: 14
Views: 2437

How much is a Roth worth?

How much is a Roth worth? I mean this in the sense that what sort of premium, if any, would you pay to contribute money to an account that would grow tax free and whose withdrawals would be tax-free? Would you pay 5% fee to deposit $1,000 into a Roth? 10%? 20%? I suspect this will depend on the esti...
by metrunt
Thu May 24, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: 529 vs Emergency Fund
Replies: 21
Views: 1458

Re: 529 vs Emergency Fund

Investing.Newbie wrote:
Thu May 24, 2018 3:19 pm
Can you please tell me why a taxable account is better than Vanguard's 529 ?
I'm more concerned about tying up my cash if I've overfunded a 529 than losing out on a little tax-free growth if I've underfunded it.
by metrunt
Thu May 24, 2018 2:43 pm
Forum: Personal Consumer Issues
Topic: quality exterior stain?
Replies: 14
Views: 933

Re: quality exterior stain?

mrc wrote:
Wed May 23, 2018 5:19 pm
According to the TWP website, they ship to 48 states, ground only. The product isn't illegal in 15 states. It's good stuff. Prep is key.
TWP 100 is great stuff. But it can't be shipped to 15 states: https://www.twpstain.com/voc-states
by metrunt
Wed May 23, 2018 4:05 pm
Forum: Personal Consumer Issues
Topic: quality exterior stain?
Replies: 14
Views: 933

Re: quality exterior stain?

Is this for a house? A deck?

TWP 100 is the best. So good it's not legal in 15 states.

www.twpstain.com
by metrunt
Wed May 23, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: 529 vs Emergency Fund
Replies: 21
Views: 1458

Re: 529 vs Emergency Fund

What do your retirement contributions look like?
by metrunt
Wed May 23, 2018 4:00 pm
Forum: Investing - Help with Personal Investments
Topic: Parents with pre-K kids and 529 target
Replies: 50
Views: 2947

Re: Parents with pre-K kids and 529 target

My 529 goal is to be able to fund 2 years of the cost of in-state attendance at a good state school. I consider that to be the upper end of what to put in a 529. I'm more concerned about over-funding a 529 than under-funding it. I think cash-flowing or taxable accounts for education is fine too. The...
by metrunt
Tue May 22, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution mechanics and strategy
Replies: 2
Views: 309

Re: Solo 401k contribution mechanics and strategy

Just the poster I was hoping to hear from!

I had not heard of QJV before. I will look into that.

I'm not sure we want her to take the full $55K because of the FICA waste. The numbers get murky there. But having the option is nice.

Thanks, Spirit Rider.
by metrunt
Mon May 21, 2018 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution mechanics and strategy
Replies: 2
Views: 309

Solo 401k contribution mechanics and strategy

I own a small business. My wife works with me. There are no other employees. I work mostly full-time and she part-time. We're in our early 40s and the business nets $160K before taxes from this. We're MFJ and file a Schedule C with our 1040. Does it count as 'my' business or 'ours'? I'm not sure. Du...
by metrunt
Wed May 16, 2018 12:59 pm
Forum: Personal Consumer Issues
Topic: Interesting/Playful ideas for 1 year baby
Replies: 37
Views: 1636

Re: Interesting/Playful ideas for 1 year baby

From my experience, babies love to hang out at the bar with their daddies.
by metrunt
Wed May 16, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off Debt vs. Investing
Replies: 25
Views: 1454

Re: Paying off Debt vs. Investing

...there needs to be more emphasis on needing to do something productive with those debt payments once the debt is gone, having a specific plan in place for what that will be, and having a system to hold yourself accountable. Without that, putting all your extra money towards even high-interest deb...
by metrunt
Tue May 15, 2018 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 8110

Re: Can a <median household save 1 year of expenses every year?

triceratop wrote:
Tue May 15, 2018 10:48 am
People whose stories about how they can/do save 1 year of expenses every year don't count for this thread:
Pull over, the thread police has arrived!
by metrunt
Mon May 14, 2018 6:17 pm
Forum: Investing - Theory, News & General
Topic: 2018 401k limit is $55K - do you max it out? Why/why not?
Replies: 110
Views: 10591

Re: 2018 401k limit is $55K - do you max it out? Why/why not?

can't everyone mega backdoor? Nope. Your 401k plan needs to have a couple of unusual features, primarily the ability to contribute post-tax and to make in-service distributions. There's a handful of good blog articles on this that explain it better than we can on these forums. This is one: https://...
by metrunt
Mon May 14, 2018 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding Federal Capital Gains Tax on Company Sale By Taking a Zero Salary
Replies: 18
Views: 1857

Re: Avoiding Federal Capital Gains Tax on Company Sale By Taking a Zero Salary

Well, best of luck. A seven figure payout in less than 5 years of launch is great!
by metrunt
Mon May 14, 2018 5:29 pm
Forum: Investing - Theory, News & General
Topic: 2018 401k limit is $55K - do you max it out? Why/why not?
Replies: 110
Views: 10591

Re: 2018 401k limit is $55K - do you max it out? Why/why not?

You can't just Roth the balance though. There are limits to that as well. Depending on the rules the employer has set up for the 401K, you have other options, such as post-tax contributions and a mega-backdoor Roth. For me, the lack of liquidity is a feature for not, not a bug. If my money is in a r...
by metrunt
Mon May 14, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: FINCON...other Boglehead-Type Groups
Replies: 5
Views: 966

Re: FINCON...other Boglehead-Type Groups

There's a ton, but most don't have the appeal to Bogleheads who are less "frugally-oriented". Most of this circle of writers are into really low expenses. I'm a Gen Xer myself, so I'm in-between. MMM has strong forums. For blogs, there's Millennial Revolution. Financial Samurai. JL Collins. The Frug...
by metrunt
Mon May 14, 2018 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Help with Small Biz Working Capital
Replies: 2
Views: 205

Re: Help with Small Biz Working Capital

What sorts of emergencies do you anticipate? I don't think it's worthwhile to put it in Vanguard. It will take 2-5 days to get it out (if you submit a request on Thursday after market close, you won't see the money until Monday at least). That's no good if you've got to cover a payroll on Friday. Le...
by metrunt
Mon May 14, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange- Complex question
Replies: 9
Views: 869

Re: 1031 Exchange- Complex question

curmudgeon wrote:
Mon May 14, 2018 10:22 am
These days the $500K exclusion has to be pro-rated across the years of rental/personal use for a converted rental. Not quite the sweet deal it was in the past.
Oh no! That was a nice feature.
by metrunt
Mon May 14, 2018 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Avoiding Federal Capital Gains Tax on Company Sale By Taking a Zero Salary
Replies: 18
Views: 1857

Re: Avoiding Federal Capital Gains Tax on Company Sale By Taking a Zero Salary

Making a stock sale rather than an asset sale can be negotiated. Depending on the assets of the company, it may be better all around (eg assignment of client contracts), but I know generally buyers aren't keen on it. But that's why it's negotiated. It's better for you to take a 30% reduction in sale...
by metrunt
Mon May 14, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange- Complex question
Replies: 9
Views: 869

Re: 1031 Exchange- Complex question

What's your goal here? It sounds like it is to free up some cash by selling a rental property in order to buy a new primary residence and keep your tax burden as low as possible. Is that correct? Gifting your primary residence to your kids doesn't make any sense towards this goal. You have a couple ...
by metrunt
Sun May 13, 2018 10:23 pm
Forum: Investing - Theory, News & General
Topic: HSBC - Checking+Brokerage Bonus $750 for 100K in 90 days - Any catch?
Replies: 14
Views: 1478

Re: HSBC - Checking+Brokerage Bonus $750 for 100K in 90 days - Any catch?

The downside is HSBC sucks. I've had a terrible experience with them in the past year. I would never do business with them again. I get the impression their USA business is an afterthought, an abandoned attempt to enter the market with the purchase of Marine Midland 20 years ago that never caught on...
by metrunt
Sun May 13, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Avoiding Federal Capital Gains Tax on Company Sale By Taking a Zero Salary
Replies: 18
Views: 1857

Re: Avoiding Federal Capital Gains Tax on Company Sale By Taking a Zero Salary

Is this a stock or asset sale? What type of corp? Look into the Qualified Small Business Stock QSBS exclusion. Depending on your start date, and field, you could be in fine shape. Remember, you get taxed on the capital GAINS. If you've put any cash equity into the company, (or you acquired it yourse...
by metrunt
Thu May 10, 2018 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: How Much may I contribute as a Sole Proprietor to my solo 401K?
Replies: 13
Views: 1079

Re: How Much may I contribute as a Sole Proprietor to my solo 401K?

If one was doing a pre-tax 401k, and the choice was to put into the 401k or take the health insurance deduction, which makes more sense?
by metrunt
Thu May 10, 2018 6:34 pm
Forum: Investing - Help with Personal Investments
Topic: Newby to this forum: do i have enough?
Replies: 44
Views: 8427

Re: Newby to this forum: do i have enough?

Expenses to you means everything needed to keep you fed and housed AND your business operational. Expenses to metrunt likely means just keeping you fed and housed. If we split your expenses in two: (similar to a rental property) where the business is one line item (+/-) and is either cash flow posi...
by metrunt
Tue May 08, 2018 8:45 pm
Forum: Investing - Help with Personal Investments
Topic: Newby to this forum: do i have enough?
Replies: 44
Views: 8427

Re: Newby to this forum: do i have enough?

It's delusional to think that clipping coupons is part of the path to wealth accumulation when someone is making $650,000 a year. Self-identifying as 'frugal' here may make you feel good, but it stretches the limits of credulity.
by metrunt
Mon May 07, 2018 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Newby to this forum: do i have enough?
Replies: 44
Views: 8427

Re: Newby to this forum: do i have enough?

ysl888 wrote:
Mon May 07, 2018 7:13 pm
our lifestyle requires approx 300-350K per year to live ... otherwise we are quite frugal-old cars, just love coupons and costco!!
Isn't this forum full of interesting ideas?
by metrunt
Mon May 07, 2018 11:13 pm
Forum: Investing - Help with Personal Investments
Topic: Trying to understand inflation
Replies: 16
Views: 1128

Re: Trying to understand inflation

I appreciate the help, but I think that I’m still a little confused. So if I saved $4,000 monthly for 23 years I’d have approx. $3.2 million but I’d be worth $1.6 million (which is the amount I need for my total retirement)? So saving $4,000 Monthly for the next 23 years is what I’d have to do to g...
by metrunt
Thu May 03, 2018 3:53 pm
Forum: Investing - Help with Personal Investments
Topic: Invest lumpsum, "cost averaging" or "wait for the crash"
Replies: 56
Views: 3786

Re: Invest lumpsum, "cost averaging" or "wait for the crash"

"You buy your portfolio every day." Anything but lump sum is trying to time the market. My crystal ball is on the fritz, so I pass on dollar cost averaging. (and yes, I've been in the market since 1997 and lived through market crashes without blinking an eye). If you feel bad after a lump sum contri...
by metrunt
Thu May 03, 2018 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house and High tax state.. Does it make sense anymore??
Replies: 28
Views: 2241

Re: Buying a house and High tax blue state.. Does it make sense anymore??

You're wondering if it makes sense to buy a house when you will pay a lot in property taxes. I'm not sure why "blue" is relevant here. Or even really 'state'. It depends on whether you will use the services property taxes provide, primarily child education. I live in an area with low property taxes ...
by metrunt
Sun Apr 29, 2018 9:14 am
Forum: Investing - Help with Personal Investments
Topic: Mortgage pay off or 529
Replies: 7
Views: 674

Re: Mortgage pay off or 529

If he lives in a state that provides a lucrative state tax break, contributing to a 529 may continue to make plenty of sense. That's very true. If your funds are coming from income, I think you could even contribute up to the limit for the state income tax deduction each year and then withdraw it t...
by metrunt
Sun Apr 29, 2018 8:47 am
Forum: Investing - Help with Personal Investments
Topic: Mortgage pay off or 529
Replies: 7
Views: 674

Re: Mortgage pay off or 529

I don't see how putting into the 529 makes much sense here.The benefit of a 529 is that accumulated interest on withdrawn funds is tax-free. How much interest are you going to accrue by the time these kids go to college? Is that worth restricting the money to only be used for educational expenses? I...
by metrunt
Tue Apr 24, 2018 10:31 pm
Forum: Personal Consumer Issues
Topic: Family trip, Southwest USA
Replies: 27
Views: 2274

Re: Family trip, Southwest USA

You're talking about a lot of travelling. I agree to choose NM or AZ but not both and fly both ways, renting a car. If you have your heart set on making miles, you could fly into El Paso and drive up from there to Colorado Springs, stopping at Carlsbad Caverns, White Sands, the Very Large Array, Alb...
by metrunt
Tue Mar 06, 2018 11:28 am
Forum: Personal Consumer Issues
Topic: Colorado Summer Vacation - what to see and where to stay
Replies: 53
Views: 3699

Re: Colorado Summer Vacation - what to see and where to stay

I agree with the less driving vs more driving view, especially with kids. I live in a neighboring state with 3 under 12. We've done a few trips around Colorado. Some quick picks, though they're not all near each other... The Jellystone outside of Estes Park plus horseback riding nearby Alpine slide ...
by metrunt
Fri Mar 02, 2018 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: How long to wait for 1099s?
Replies: 10
Views: 1294

Re: How long to wait for 1099s?

Businesses have to mail them out by Jan 31st. If you haven't gotten it yet, you're not going to.
by metrunt
Thu Mar 01, 2018 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Why child care tax credit for double income families, but not single?
Replies: 32
Views: 3636

Re: Why child care tax credit for double income families, but not single?

Human perception of fairness is a funny thing.

With this credit, you don't get taxed extra by being a single income family. It's just someone else is getting taxed less. It's not a competition. You're not losing anything.

PS I am the sole earner for my family of 2 adults and 3 kids.
by metrunt
Thu Mar 01, 2018 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Will my lax approach to record keeping fly in an audit?
Replies: 40
Views: 4044

Re: Will my lax approach to record keeping fly in an audit?

I feel similarly about my business expenses and the risk of an audit. I don't keep very good paper records. However, I do have a business checking and a business credit card and only put business expenses on those on never on my personal. It makes bookkeeping 100x easier. I do a little churning too,...