Search found 40 matches

by Better2bWise
Sat Oct 20, 2018 6:03 pm
Forum: Personal Consumer Issues
Topic: Pull kids from school for vacations?
Replies: 136
Views: 6087

Re: Pull kids from school for vacations?

Education is a concept that is not monopolized by any one body of instructors. Teachers are very adamant that only they can ensure that kids are educated well. Enrichment can only be offered by schools through field trips and summer trips which allow teachers to plan great breaks from standardized t...
by Better2bWise
Fri Sep 28, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Pay extra on mortage if I'm already maxing 401k and Roth?
Replies: 16
Views: 2339

Re: Pay extra on mortage if I'm already maxing 401k and Roth?

If you know that you will pay the mortgage off in 10 years. Invest it in after tax mutual fund and once you get enough money to pay off in full after long term capital gains. Pull the trigger and pay it off. It is a gamble but it might pay off better over a longer term.
by Better2bWise
Fri Aug 24, 2018 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Roth 401K
Replies: 15
Views: 1374

Re: ROTH 401K

Dear Friends, The company 401k plan allows for ROTH 401k contributions. However, no one at principal financial was able to directly answer my question if lets say I do 10k in roth 401k this year. Can I roll over that to a RIRA. basically the "mega back door RIRA" They said the plan allows 401k afte...
by Better2bWise
Mon Aug 20, 2018 9:01 pm
Forum: Investing - Help with Personal Investments
Topic: Pension Rollover to TIRA, does it affect backdoor ROTH?
Replies: 12
Views: 755

Re: Pension Rollover to TIRA, does it affect backdoor ROTH?

Just use the money that you would have used for a Backdoor Roth to pay taxes for the conversion of TIRA to Roth. If you want pretax funds, keep them. If you want Roth funds, convert them over the years. I don't see any difference. You want the money in a Roth, pay for it. It is all just tax treatmen...
by Better2bWise
Fri Aug 10, 2018 5:59 pm
Forum: Investing - Theory, News & General
Topic: I had a meeting with David Swensen tonight!
Replies: 59
Views: 9770

Re: I had a meeting with David Swensen tonight!

* The Euro will in all probability fail and dissolve. He was not sure if that was 2, 5, or 7 years from now. However, he believes the Federal Reserve is already underway in being proactive with the risks. * The last couple of years made him realize you are foolish to bet against the United States. ...
by Better2bWise
Wed Jul 04, 2018 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Using 529 to pay rent and meal off-campus?
Replies: 25
Views: 2521

Re: Using 529 to pay rent and meal off-campus?

Just looked into this recently. There is an allowable amount for room and board that can be qualifying expenses under the 529. Here is a webpage from my local university that breaks down cost of education. Room and board depends on the living situation: offcampus or on campus. They even include if c...
by Better2bWise
Sun May 06, 2018 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: What career for smartest kid in the class?
Replies: 132
Views: 9642

Re: What career for smartest kid in the class?

I would become a CRNA. I have and I would do it again.
by Better2bWise
Sat Apr 28, 2018 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 246
Views: 35424

Re: Those with high savings rate: why?

Thanks for this question. We benefit from it as much as you do from reading the variety of motivations. Motivations. I believe that there is wisdom in understanding that the future is unpredictable. We hope to grow our wealth over the years but savings is the only guarantee to protect the rate of gr...
by Better2bWise
Wed Apr 11, 2018 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: Roth option within 403b
Replies: 8
Views: 600

Re: Roth option within 403b

The key to retirement savings is put as much as you can bear. The more that you can stuff into tax advantaged accounts, the better. Roth 403b allow larger amounts to save in these type of accounts than pretax. 18500 into Roth 403b (taxed) is technically more monies saved than pretax 403b. If the mar...
by Better2bWise
Wed Apr 11, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Repayment Plan
Replies: 52
Views: 3120

Re: Student Loan Repayment Plan

Extremely important information on this report by CNN. no FFEL loans qualify. They must be William D. Ford Direct Loan Program loans to qualify which were only 25% of all the Federal loans from 10 years ago. This article says in January 7500 applicants applied for PSLF but only 13% or 1000 were elig...
by Better2bWise
Sat Mar 24, 2018 11:09 am
Forum: Investing - Theory, News & General
Topic: I’m looking for a word...
Replies: 114
Views: 10859

Re: I’m looking for a word...

I think you are talking about changes in equilibrium of chemicals quantities and qualities of character in a reaction...can be applied to philosophical thoughts or economic forces. Le Chatelier's Principle and catalysts https://www.khanacademy.org/economics-finance-domain/microeconomics/supply-deman...
by Better2bWise
Sat Feb 24, 2018 10:59 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey over simplifying Roth vs. Traditional IRA?
Replies: 103
Views: 12702

Re: Dave Ramsey over simplifying Roth vs. Traditional IRA?

Clark Howard is another radio personality who recommends Roth without paying attention to the nuanced analysis that goes on here. He was once called out on it and he said that he knows that it's not technically right, but that for most people, it will result in more savings (after tax) for retireme...
by Better2bWise
Sat Feb 17, 2018 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: I'm Cancelling My Home Insurance
Replies: 156
Views: 13284

Re: I'm Cancelling My Home Insurance

Nope. I will always give home insurance companies the risk of loss of home. I will always give FDIC the risk of my failing bank who manages my savings account. I will always have medical malpractice insurance as well. Some risks are always present and damaging for pennies of cost. Dropping auto insu...
by Better2bWise
Sat Feb 17, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover a Pension into Roth IRA or Traditional IRA?
Replies: 20
Views: 2169

Re: Rollover a Pension into Roth IRA or Traditional IRA?

My wife took lump sum payout from a pension plan from her past employer and rolled it directly into a Vanguard Rollover IRA via custodian payment. Annually, we have converted some of the Rollover IRA (a form of traditional pretax IRA) each year and the distribution is taxed at regular marginal incom...
by Better2bWise
Thu Feb 15, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax & Form 8606
Replies: 9
Views: 1513

Re: TurboTax & Form 8606

Check Turbotax again my friends. I filed today with my 8606 form on Turbotax.
by Better2bWise
Mon Jan 29, 2018 8:55 pm
Forum: Investing - Help with Personal Investments
Topic: Stay At Home Mom Back Door Roth High Question
Replies: 20
Views: 1465

Re: Stay At Home Mom Back Door Roth High Question

Can't she just convert the rollover IRA to Roth each year (once/year)? Can anyone tell me the difference between creating a new backdoor Roth from a new traditional IRA and converting an old rollover IRA to Roth? The tax consequence from the rollover conversion is identical to the backdoor Roth from...
by Better2bWise
Sat Dec 30, 2017 10:42 am
Forum: Investing - Theory, News & General
Topic: What the experts say about Bitcoins?
Replies: 114
Views: 9381

Re: What the experts say about Bitcoins?

The fact remains that even in Bubbles...people make extraordinary gains on the backs of the many who fall hard. The nature of mankind is to risk for great gain. See the state lottery system for evidence. Bitcoin is a powergrab for the modern form of money from governments and authority in general by...
by Better2bWise
Wed Dec 27, 2017 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: turbotax and accountant don't agree on prepayment of real estate tax
Replies: 12
Views: 1227

Re: turbotax and accountant don't agree on prepayment of real estate tax

Unless you can lower your agi by more tax deductible retirement accounts, your amt will increase with additional itemized deductions such as charity or prepaid property tax. I hit the AMT and added property tax to my Turbotax and the AMT rises too! Could your turbotax entries or the accountants data...
by Better2bWise
Mon Dec 18, 2017 5:23 pm
Forum: Investing - Theory, News & General
Topic: Call the top! - Bitcoin
Replies: 191
Views: 21783

Re: Call the top! - Bitcoin

28236
by Better2bWise
Wed Jun 07, 2017 4:34 pm
Forum: Personal Consumer Issues
Topic: Dave Ramsey Financial Peace University ??? worth it?
Replies: 120
Views: 15213

Re: Dave Ramsey Financial Peace University ??? worth it?

:idea: I believe that Dave Ramsey addresses the biggest problem of in the USA...most people don't know that they lack a financial plan and the biggest barrier to following a financial plan is themselves which is demonstrated by their personal record. Whether it is a couple's communication method, an...
by Better2bWise
Sun Jun 04, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Budgeting
Replies: 47
Views: 5522

Re: Budgeting

Dave Ramsey encourages that people learn to budget first to control yourself and let the math do the rest. He built a great free platform called EveryDollar to do just that with your entire expected income on the first of the month. https://www.everydollar.com/app/#/sign-in "And now to conclude, exp...
by Better2bWise
Wed May 31, 2017 10:34 am
Forum: Personal Consumer Issues
Topic: Do I deserve it? [A new car]
Replies: 69
Views: 7719

Re: Do I deserve it? [A new car]

You sound like a bright young man. Learn from an old wise man who helped build this country of wealth. I am just one cord of this strong fabric of America. Listen to Ben Franklin so you can see if over time anything is new. "The Way to Wealth" Ben Franklin https://liberalarts.utexas.edu/coretexts/_f...
by Better2bWise
Sun Jan 29, 2017 8:28 am
Forum: Investing - Help with Personal Investments
Topic: 401a/403b/457 limits
Replies: 27
Views: 4628

Re: 401a/403b/457 limits

She was told that the sum of her 403b and 401A cannot exceed 54k (not including the 6k catchup) Is that incorrect? To be clear.. she doesn't contribute to her 401A only her employer does, The 401 and 403 contribution limits are aggregate. Maybe this link can help you: https://www.irs.gov/retirement...
by Better2bWise
Sat Oct 01, 2016 5:31 pm
Forum: Personal Consumer Issues
Topic: Have you ever bought a new car from a dealer?
Replies: 20
Views: 1781

Have you ever bought a new car from a dealer?

I read the Millionaire Next Door and I am amazed at some of the data on spending habits of Millionaires. What about the Bogleheads forum?? Are you UNDER or OVER $500,000 Net Worth and how many new cars have you bought? I am UNDER and I have bought 2 new cars. 2003 VW Jetta GLS 2013 Toyota Sienna XLE
by Better2bWise
Tue Sep 13, 2016 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Getting out of upside down car
Replies: 60
Views: 5530

Re: Getting out of upside down car

What are you driving now? I know plenty of sales people in my office driving 30k-40k miles a year with Honda Accords. They use snow tires. I've got 3 AWD cars in the family with snow tires but when there's a blizzard outside, I tend to go drive around for fun. Watch this video. AWD vs 2WD with snow...
by Better2bWise
Tue Aug 23, 2016 8:02 am
Forum: Investing - Help with Personal Investments
Topic: How do you view debt?
Replies: 108
Views: 9249

Re: How do you view debt?

Debt is always to be respected and feared. Many have said debt is like a tool. What kind of tool would you liken it to remove the barrier in your life...a garden trowel, a shovel or dynamite? If it is a garden trowel it won't hurt you unless you are self inflicting pain but it takes a long time to ...
by Better2bWise
Sun Aug 07, 2016 9:29 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey over simplifying Roth vs. Traditional IRA?
Replies: 103
Views: 12702

Re: Dave Ramsey over simplifying Roth vs. Traditional IRA?

I love how people like to BERATE Dave Ramsey for his generalized advise for the common person. This is his advice not a full explanation of all the nuances of the Tax advantaged IRS rules and strategies for withdrawal during retirement. The common person knows little about any of these matters. On t...
by Better2bWise
Sat Jul 30, 2016 8:41 pm
Forum: Personal Consumer Issues
Topic: What makes people succeed?
Replies: 98
Views: 11373

Re: What makes people succeed?

My only observation is that people vastly underestimate the importance of luck as a key factor of success. The notion of a "self made" person is mostly a myth, IMO. Recommend "Thinking Fast and Slow" by Daniel Kahneman and "Free Will" by Sam Harris. OK, back in my hole. Chance favors the prepared m...
by Better2bWise
Fri Jul 29, 2016 6:46 pm
Forum: Personal Consumer Issues
Topic: What makes people succeed?
Replies: 98
Views: 11373

Re: What makes people succeed?

I believe successful people have an understanding of successful behaviors and require themselves to reach those behaviors. Lou Holts said in an interview that he gathers with his family for one week per year and each night for an hour every family member describes goals of the nightly category. He a...
by Better2bWise
Mon Jul 04, 2016 11:09 am
Forum: Personal Consumer Issues
Topic: Any motorcyclists here? - First road trip
Replies: 33
Views: 3666

Re: Any motorcyclists here? - First road trip

I am sure there are many sad stories that quickly evolve the life of many motorcycle riders. This example is of one home renovation blog that sadly changed its tune after a crash. Scroll down to read the June 17th, 2016 post which is day 5 from the start of the entire project. https://thelavenderslo...
by Better2bWise
Wed Jun 15, 2016 1:40 pm
Forum: Investing - Help with Personal Investments
Topic: 23y.o. & leaving first job w/ 401a -- Rollover to Vanguard IRA ?
Replies: 7
Views: 823

Re: 23y.o. & leaving first job w/ 401a -- Rollover to Vanguard IRA ?

Hi everyone, I just joined to hopefully get some advice on my situation and to learn more about keeping up with my finances and investing in the future, so sorry if I am a little uninformed. I am 23 years old, and leaving my current job (~$25k/year) after accumulating ~$3k in a 401a plan with TIAAC...
by Better2bWise
Mon May 23, 2016 7:33 am
Forum: Investing - Help with Personal Investments
Topic: Close to Roth IRA limit should I do Roth or Back door?
Replies: 15
Views: 2596

Re: Close to Roth IRA limit should I do Roth or Back door?

By my calculations I think my spouse and I will be just under the Roth IRA limit of 181,000 MAGI but just by about $3,000. I have read all the wiki's and back door how-to's but still can't decide what to do. I would like to keep it simple and avoid the complication of doing IRA in one year and conv...
by Better2bWise
Wed May 11, 2016 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 18947

Re: Renting vs owning

____________________________________________________________ REAL LIFE EXAMPLE My personal situation: Yearly costs for my home includes principle $19667, mortgage interest ($4566 with 25% deduction) $3424, property tax ($7000 with 25% deduction) $5250, Home owners association $600, Home insurance $...
by Better2bWise
Fri Apr 29, 2016 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 18947

Re: Renting vs owning

Home ownership versus Rent. REAL LIFE EXAMPLE My personal situation: Yearly costs for my home includes principle $19667, mortgage interest ($4566 with 25% deduction) $3424, property tax ($7000 with 25% deduction) $5250, Home owners association $600, Home insurance $800, utilities $4800 and maintena...
by Better2bWise
Fri Apr 29, 2016 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 18947

Re: Renting vs owning

What is the size of your deposit - the renter gets to invest that. Maintenance fees look low for that size house but you may be good at keeping costs low. Say my home down payment (20%) is $75000. After 5 years without any increases in annual costs, the renter has $75000 and accumulated $32750 (655...
by Better2bWise
Fri Apr 29, 2016 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 18947

Re: Renting vs owning

Home ownership versus Rent. You must evaluate the cost of a similar housing situation between renting and owning the same situation for a fair comparison. If you choose smaller rental versus size of house, this isn't a fair cost comparison. Let's look at the variables that would compare cost and ris...
by Better2bWise
Sat Apr 23, 2016 7:46 am
Forum: Personal Consumer Issues
Topic: Any books really change your outlook on life?
Replies: 326
Views: 58330

Re: Any books really change your outlook on life?

The Bible
Declaration of Independence
The Four Loves by C.S. Lewis
Little Book of Common Sense Investing
Millionaire Next Door
The Four Pillars of Investing
The Birth of Plenty by William Bernstein