Search found 11 matches

by Double_A
Wed Jan 15, 2020 4:51 pm
Forum: Personal Investments
Topic: Historical Contributions to Roth
Replies: 18
Views: 1224

Re: Historical Contributions to Roth

A back door Roth IRA is a conversion and is tracked like other conversions based on the year done. Any direct rollover from a pre tax employer plan to a Roth IRA is also tracked in the same manner. However, the posted ordering rules neglected to state that when a given year's conversions are distributed out of the Roth IRA, the taxable amount of such conversions comes out first. A back door Roth conversion is normally close to entirely non taxable, but if there are earnings on the ND TIRA contribution before it is converted, the process works in the following manner: 1) ND TIRA contribution 5000 and it earns 60 before being converted. 5060 is therefore converted and the 60 is taxable. 2) A Roth IRA distribution is needed in addition to all...
by Double_A
Wed Jan 15, 2020 12:36 pm
Forum: Personal Investments
Topic: Historical Contributions to Roth
Replies: 18
Views: 1224

Re: Historical Contributions to Roth

To piggy back on this topic... Does a backdoor ROTH IRA contribution count as a "contribution" (#1) or "conversion" (#2) for the withdrawal rules? This is based on the info below: https://www.marketwatch.com/story/im-so-confused-how-do-i-treat-withdrawals-from-a-roth-ira-2020-01-15?mod=home-page When you pull any funds from a Roth IRA, a set of ordering rules applies. 1. The first dollars out are deemed to be from your regular contributions. Since contributions are made after-tax, these withdrawals are tax-free. 2. Once you have distributed the equivalent of the total amount of your contributions, the next dollars out are deemed to be amounts converted more than five years ago. You would have paid the tax at time of conv...
by Double_A
Tue Feb 13, 2018 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 9903

Re: Should I claim chapter 7 bankruptcy? debt 110k

I understand some posters' ideology that you will be a better person in the long run by gutting it out and working for possibly a decade or more to pay this debt back, and that it should be thought of as morally wrong to declare bankruptcy and not pay a debt back that you rightfully owe. I would take a slightly different mindset however. You entered into a business contract with your creditors, and it should be treated as such; strictly business. You should do what is best for you and your personal "business". Your creditors are very sophisticated companies and fully understood the risks and possible negative as well as positive outcomes of extending you credit. They did not do it out of the goodness of their heart, they did it to...
by Double_A
Tue Jun 06, 2017 9:28 am
Forum: Personal Consumer Issues
Topic: Broken Honda Accord key 2009
Replies: 11
Views: 6608

Re: Broken Honda Accord key 2009

Hi, anyone have experience with a broken Honda Accord key? Trying to fix myself than go to dealer and get ripped off. Thanks! I have an '06 Accord and recently went through this exact same thing. First, get one of these (or similar, whatever fits yours): https://www.amazon.com/KeylessOption-Keyless-Entry-Remote-Combo/dp/B00KTHV10C/ref=pd_lpo_vtph_263_bs_t_2?_encoding=UTF8&psc=1&refRID=ZRHQRT600B7Q0G5AR9F2 Next, take the new key along with your existing key (both metal key part and remote shell portion) to a locksmith or someone who can do laser cut keys. They may be able to look up your VIN # and give you an exact replica from the Honda database or they may have to make a copy of your existing key. Once the key is cut, open the exi...
by Double_A
Tue Apr 18, 2017 1:25 pm
Forum: Personal Consumer Issues
Topic: Security deposit issues upon rental move-out. Or, how do I not get ripped off?
Replies: 39
Views: 4331

Re: Security deposit issues upon rental move-out. Or, how do I not get ripped off?

OP here. Update: I decided to not push further just so my relationship with them does not get strained. I'm still annoyed on principle. Given how this has turned out, I'm quite positive, as some of you mentioned, that if I got more detailed on (2) (eg: got an estimate from a cleaner), and cited the law on (3), I'd have had a very good chance of getting back most of the money on those. And if not, and if I'd taken this to small claims court, it most likely would have succeeded. Why are you worried about your "relationship" with the management or owner so much? You are engaging in a business transaction, so unless you are getting some additional "perks" from them that other people without a good relationship aren't gettin...
by Double_A
Mon Oct 17, 2016 3:01 pm
Forum: Personal Consumer Issues
Topic: Quality Men's Dress Clothing
Replies: 51
Views: 13104

Re: Quality Men's Dress Clothing

I have had pretty good luck with Tom James for that type of thing (https://www.tomjames.com/).

They will have a representative that comes out to your office or home and measures you and shows you all the options for different materials, patterns, styles, cuffs, collars, etc. and you get to pick out everything about your shirt or suit. They then hand deliver it to you in a few weeks and make sure you are satisfied. The shirts run a little more than BB (~$125-150?) and the suits start in the $700 range but everything I have from them fits perfectly and seems to be pretty high quality thus far.
by Double_A
Wed Jul 13, 2016 1:13 pm
Forum: Personal Investments
Topic: Portfolio Setup - w/ ESOP
Replies: 6
Views: 962

Re: Portfolio Setup - w/ ESOP

Any other opinions or guidance from the Bogleheads?
by Double_A
Mon Jul 11, 2016 11:19 am
Forum: Personal Investments
Topic: Portfolio Setup - w/ ESOP
Replies: 6
Views: 962

Re: Portfolio Setup - w/ ESOP

Thanks for the reply! Your statement about over-weighting international allocation in my Roth IRA account to get my desired AA since I don't have access to great international index funds in my 401k brought up another question in my head. I (mostly) understand the idea of placing different assets in their most tax efficient account to minimize your tax burden, but in my case that isn't an issue since I don't have any bonds or after tax investments. In that case, is there a risk of holding all (or most) of my international assets in my Roth and all US in my 401k with respect to tax diversification? If one grows significantly more than that other over the long run I could have significantly more Roth or Trad $ than I expected which may change...
by Double_A
Mon Jul 11, 2016 9:51 am
Forum: Personal Investments
Topic: Portfolio Setup - w/ ESOP
Replies: 6
Views: 962

Re: Portfolio Setup - w/ ESOP

Monday morning bump
by Double_A
Fri Jul 08, 2016 4:54 pm
Forum: Personal Investments
Topic: Portfolio Setup - w/ ESOP
Replies: 6
Views: 962

Portfolio Setup - w/ ESOP

Hello Bogleheads, I have just freed myself from my parent's broker and have transferred my accounts over to Vanguard. I have a few questions as to how to get the proper diversification, how to handle private company stock (ESOP), and any other advice you may have. Emergency funds: ~4 months Debt: $0 Tax Filing Status: Single Tax Rate: 25% Federal, 0% State State of Residence: TX Age: 28 Desired Asset allocation: 100% stocks / 0% bonds (adding 1% per year @ age 30) Desired International allocation: 20-30% of stocks Total portfolio: Low 6 figures Current retirement assets 401k - 3.5% company match - Roth available 17% BlackRock Equity Index T Fund (0.03%) - S&P 500 Index 5% BlackRock Mid Cap Equity Index M Fund (0.04%) - S&P Mid Cap 4...
by Double_A
Tue Jun 07, 2016 9:34 am
Forum: Personal Investments
Topic: Unexpected Raise and Roth Limits
Replies: 8
Views: 1809

Re: Unexpected Raise and Roth Limits

You can just have Vanguard remove the contribution, or you can re-characterize it to a non-deductible tIRA. But be careful, re-characterizing would only be a good idea If you have no existing tIRAs (rollover IRA, trad IRA, SEP IRA, Simple IRA). If you don't have these then you could re-characterize it to the tIRA and convert the tIRA to your Roth. Best to do both of these steps before the end of this year. If you do have existing tIRAs then you would trigger their pro-rata taxation in the conversion step, which you don't want to do. JW see https://www.bogleheads.org/wiki/Backdoor_Roth_IRA I'm in a similar situation this year and have a few questions as well. 1) How do they calculate the "earnings" on your 2016 contribution? My ac...