Search found 15 matches

by jmalwitz
Wed Feb 14, 2018 10:12 am
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

I'm a big fan of tax diversification, and having some Roth balances in addition to regular retirement accounts contributions. Many folks would say that 22% tax bracket is close to a breakeven point in deciding between the two. But again, a lot depends on the future. I'd say stick with an increase o...
by jmalwitz
Wed Feb 14, 2018 8:54 am
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

I’ve now spent some time learning about backdoor roth’s. Since we file MFS (which reduces the IRA income limit to 10k, we are both above this amount) it appears that it’s something we could potentially take advantage of. This link from the wiki page was very helpful in understanding the mechanics. ...
by jmalwitz
Wed Feb 07, 2018 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

1. Good overall. I would look at backdoor Roth IRAs, especially for your wife while she's in a relatively low tax bracket. I have to admit I'm not up to speed yet on backdoor roth's...my novice is showing :wink:. I've seen plenty of thread titles on the subject but always thought they were for high...
by jmalwitz
Tue Feb 06, 2018 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

I was in your situation but I was 40 yo (so you are smarter than me in starting this journey). This is a bit off topic but I found a job with pension (like your wife). Based on my calculation, my wife and I might able to live off the pensions/ss without ever touching our 401k/457. I was very surpri...
by jmalwitz
Mon Feb 05, 2018 11:15 pm
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

In his 401k I suggest using Northern Trust S&P 500 Index Fund, ER 0.026% for domestic stocks, instead of th Russell 1000 Growth Fund. In my opinion a S&P 500 index fund is good enough for domestic stocks. A S&P 500 index fund covers 81% of the U.S. stock market, investing in stocks of selected larg...
by jmalwitz
Mon Feb 05, 2018 10:59 pm
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

Thanks perl. 1. Good overall. I would look at backdoor Roth IRAs, especially for your wife while she's in a relatively low tax bracket. I have to admit I'm not up to speed yet on backdoor roth's...my novice is showing :wink:. I've seen plenty of thread titles on the subject but always thought they w...
by jmalwitz
Mon Feb 05, 2018 10:39 pm
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

Thanks for the reply ICMoney. 1. Are you just contributing enough to her 403b to get the match? With the high fees, only putting enough to get the match is all I would put towards that. (use your 401k and/or HSA beyond that) It's more then what we need to get the full match. It's actually just enoug...
by jmalwitz
Mon Feb 05, 2018 10:13 pm
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Re: Novice 34 y.o. looking for retirement plan guidance

1. Your plan seems fine. Morningstar has a Portfolio X-Ray tool that lets you see your entire portfolio all added up and you might want to do this with your current portfolio. But, it is also a good idea to open a new browser tab and enter in your proposed portfolio to see what the changes might me...
by jmalwitz
Mon Feb 05, 2018 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: Novice 34 y.o. looking for retirement plan guidance
Replies: 16
Views: 1966

Novice 34 y.o. looking for retirement plan guidance

Hello all, I’ve been a lurker on this forum for a few years and it’s helped tremendously in getting my family finances in order. Now that we’re on track with our short-term goals I’ve started to turn my attention to optimizing our retirement portfolio. Definitely a novice investor so I’ve been worki...
by jmalwitz
Mon Feb 08, 2016 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about FSA eligibility for married filing separately taxpayer
Replies: 8
Views: 3886

Re: Questions about FSA eligibility for married filing separately taxpayer

@chuckr1223 - thanks for following up on this topic! All the sources from my online research just seemed to contradict each other and I was still searching for a definitive answer. My wife enrolled in her DCFSA back in November and contributed $2500. She will be claiming our child on her MFS return ...
by jmalwitz
Fri Dec 18, 2015 7:42 pm
Forum: Investing - Help with Personal Investments
Topic: 401K rollover - is now a good a time as any?
Replies: 4
Views: 529

401K rollover - is now a good a time as any?

I've been sitting on an old employer 401K for several years now but would like to finally rollover to a Traditional IRA so I can manage it better. Should I worry about where the market is currently at, or is now a good a time as any to do this? If the market is a concern, what should I be looking fo...
by jmalwitz
Wed Dec 16, 2015 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question for a 401K to traditional IRA rollover
Replies: 4
Views: 483

Re: Tax question for a 401K to traditional IRA rollover

@retiredjg and @David Jay - thank you for your responses. You're exactly right, my confusion is coming from the different IRA contribution and deduction limits imposed because of my married filing separately status. For that very reason I'll be increasing my current 401K contributions rather than co...
by jmalwitz
Tue Dec 15, 2015 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question for a 401K to traditional IRA rollover
Replies: 4
Views: 483

Tax question for a 401K to traditional IRA rollover

I'm looking for clarification on a tax topic as it relates to a 401K rollover. I file my income taxes as "Married Filing Separately". Are there any negative tax consequences or eligibility issues if I rollover an old 401K to a traditional IRA because of my filing status? Or, are the rollover rules t...
by jmalwitz
Thu Nov 19, 2015 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about FSA eligibility for married filing separately taxpayer
Replies: 8
Views: 3886

Re: Questions about FSA eligibility for married filing separately taxpayer

I have to make my 2016 FSA elections by Nov. 20, so any guidance to my original questions would be greatly appreciated. Thanks!
by jmalwitz
Wed Nov 18, 2015 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about FSA eligibility for married filing separately taxpayer
Replies: 8
Views: 3886

Questions about FSA eligibility for married filing separately taxpayer

Hello, I'm hoping to get some clarification on the rules concerning Health and Dependent Care FSA plans. My wife and I will be using the Married Filing Separately status on our taxes for 2015. We're filing this way in order to keep her student loan payments lower. We just had our first child a coupl...