Search found 27 matches

by bada bing
Sun Oct 08, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Freeze - What did you do?
Replies: 71
Views: 5424

Re: Pension Freeze - What did you do?

I have been through the freezing of my pension no less than 3 times. It has been a common trend for 20 years in petro-energy, where I work: 1st pension was frozen when the facility I work at was sold. No lump sum offering so I still have this. It is worth $800 a month, non-cola'd, starting at age 65...
by bada bing
Tue Sep 05, 2017 5:34 am
Forum: Investing - Help with Personal Investments
Topic: personal capital
Replies: 19
Views: 1968

Re: personal capital

Mint.com dashboard works as well or better than personal capital and they
won't be cold calling or sending unsolicited emails.
by bada bing
Mon Sep 04, 2017 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA or Backdoor Roth?
Replies: 22
Views: 1671

Re: Roth IRA or Backdoor Roth?

I do a yearly backdoor Roth with accounts at Schwab. The initial set up years ago was trivial and the annual deposit and conversion is even more trivial. Schwab - probably like most other big brokerages - leaves the tIRA used for the backdoor open with a $.00 balance. The same account is used each y...
by bada bing
Fri Sep 01, 2017 3:34 am
Forum: Personal Finance (Not Investing)
Topic: Another Chemical Engineer salary history
Replies: 14
Views: 2474

Re: Another Chemical Engineer salary history

I started school as a ChemE major and went until 1st semester junior year. The internship and plant trips I made during summer break after sophomore year soured me on the idea of a career as a ChemE. I quit school and went to an Associate program for process control instrumentation. The AS program w...
by bada bing
Wed Aug 30, 2017 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Bad Idea to Have Zero Credit Cards?
Replies: 129
Views: 6176

Re: Bad Idea to Have Zero Credit Cards?

I am sure that I don't overspend on my groceries by using a credit card.
I take out a cash advance on my credit card then pay for the groceries in cash.
Potential subconscious overspending thwarted. :sharebeer
by bada bing
Tue Aug 22, 2017 2:18 pm
Forum: Investing - Theory, News & General
Topic: Amazed by Vanguard Wellington's Performance
Replies: 40
Views: 6017

Re: Amazed by Vanguard Wellington's Performance

I've done some portfoliovisualizer runs in the past looking at exactly the same thing: comparing Wellington and Wellesley to an indexed Equity/Fixed split. There definitely was some "magic" in the past for those funds. One of the things I did was investigate playing with the bond piece of the portfo...
by bada bing
Sun Aug 20, 2017 5:41 pm
Forum: Investing - Help with Personal Investments
Topic: New to 401k. How is this Match?
Replies: 14
Views: 1503

Re: New to 401k. How is this Match?

$1000 is "free" money, which is great. I would definitely plan on contributing the $1000 to capture the match. That is a no brainer. Whether the match could be called "stingy" depends on what the employer's total contribution towards retirement is. Is the job subject to FICA taxes and will she be pa...
by bada bing
Sun Aug 20, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Advantages of Having No Credit Score
Replies: 42
Views: 3086

Re: Advantages of Having No Credit Score

Credit scores are used sometimes for lots of things besides qualifying for credit. Two big ones are vetting job applicants and prospective rental tenants. There are no benefits to not having a good credit score and some potential drawbacks. A good credit score requires accounts reporting positively ...
by bada bing
Fri Aug 18, 2017 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking further Roth IRA explanation.
Replies: 17
Views: 1074

Re: Seeking further Roth IRA explanation.

Thanks for the wealth of info. I will drop my 401k to 4% since company match is 4%. And put the extra towards Roth. Say I start out with a fund with a min 1000 buy, how is it different than a mutual that has a 3k or 5k buy in? Better returns? In some cases, funds with higher minimum buys have lower...
by bada bing
Fri Aug 18, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Jobs that pay over $100,000
Replies: 157
Views: 16026

Re: Jobs that pay over $100,000

I have worked as an hourly company employee for major oil companies and made over $100K per year for the last 25 years, not including a very generous benefit package. Current base is $175K. Total comp including bennies is $250K. A new hire would start around $110K. To make that level, you have to be...
by bada bing
Fri Aug 11, 2017 1:32 pm
Forum: Investing - Theory, News & General
Topic: Solo 401k
Replies: 7
Views: 764

Re: Solo 401k

One difference between solo 401K custodians that may be of importance to your situation would be the ability to roll tIRA money into your solo 401K. 401K's, including solo 401K's, don't get counted in pro-rata calculations for backdoor Roth conversions. Vanguard solo 401K doesn't allow rolling in tI...
by bada bing
Wed Jul 05, 2017 7:43 am
Forum: Investing - Help with Personal Investments
Topic: Beginner needs sanity check moving a lot of cash to market.
Replies: 58
Views: 5225

Re: Beginner needs sanity check moving a lot of cash to market.

I'll defer to other's recommendations for asset allocation and debt repayment advice. The one observation I'll make is it would be very advantageous to investigate any avenues to gain Roth space. All that cash sitting in taxable accounts at the OP's tax bracket isn't optimal. Does the DW's 401K have...
by bada bing
Mon May 22, 2017 12:16 am
Forum: Investing - Help with Personal Investments
Topic: Investing Emergency Fund
Replies: 33
Views: 4381

Re: Investing Emergency Fund

If emergency money is in a Roth acct, you would have to pay a penalty to withdrawal that money if it has not been in there 5 years and you are not 59.5 This is only true of the earnings on your funds. You can withdraw your principal at any time for any reason for free. That isn't true in a lot of c...
by bada bing
Tue Mar 28, 2017 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for late 20s couple with 100k cash
Replies: 14
Views: 1484

Re: Strategy for late 20s couple with 100k cash

You might read up on "mega backdoor Roth" and check if either of your 401K's allows the two components that make the mega backdoor possible: After tax contributions and in-plan rollovers. It may just academic presently, but it would be nice to know if you have places to stash more tax adva...
by bada bing
Thu Jan 26, 2017 4:17 am
Forum: Investing - Help with Personal Investments
Topic: Maxing out investment vehicles
Replies: 5
Views: 827

Re: Maxing out investment vehicles

If you have multiple businesses, then you can save 54k / business in each 401k. Remember, as an employee, you can contribute a total of $18k across employers But, as an employer you can contribute upto ($54k - employee contribution) per company plan. Is the part about having multiple i401K accounts...
by bada bing
Mon Oct 17, 2016 2:09 am
Forum: Investing - Help with Personal Investments
Topic: i401K questions... Schwab ?
Replies: 1
Views: 284

i401K questions... Schwab ?

I have an active 401K through my employer at Fidelity. I have been maxing out the contribution limits including catch up and after tax. I have maxed the deductible and catch up limits for 2016 and will have the after tax maxed at year end. My Fidelity 401K allows after tax contributions, in-plan rol...
by bada bing
Wed Oct 05, 2016 2:47 am
Forum: Personal Finance (Not Investing)
Topic: Almost perfect credit score (FICO from Amex)
Replies: 44
Views: 7004

Re: Almost perfect credit score (FICO from Amex)

I have had perfect FICO8 scores of 850 on all three bureaus for a little over a year now. I was in the habit of micro managing my credit score, but lately have been bored of that. When you get above say 825, the last points to 850 are influenced by little things. Some factors: You need an installmen...
by bada bing
Sat Oct 01, 2016 5:48 am
Forum: Investing - Help with Personal Investments
Topic: Evaluate Pension options
Replies: 4
Views: 710

Evaluate Pension options

I have a couple of basic questions on how you would evaluate pension options. I am: 58 years old male Single Have $1MM in retirement savings in 70-30 TSM-TBM AA Plan on retiring in 4 years @ 62 years old Will have a max'ed contribution SS account Have at least average longevity expectations I have 2...
by bada bing
Fri Sep 30, 2016 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: Pimco Income Fund - What am I missing?
Replies: 17
Views: 2714

Re: Pimco Income Fund - What am I missing?

I've owned ~$200K of PIMIX for about 6 years. If you watch the day to day swings, it isn't as volatile as a lot of longer duration investment grade bond funds and pays a better pay out. Granted, I haven't been through a real trial by fire yet, but I am comfortable with risk so far. PIMCO has some in...
by bada bing
Wed Sep 28, 2016 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Schwab vs Vanguard
Replies: 30
Views: 4661

Re: Schwab vs Vanguard

I have my IRA at Schwab and my company's 401K is at Fidelity. I give high marks to both for customer service. Both are outstanding. Schwab is probably ahead by a nose IMO. I had an account at Vanguard for about 5 years, which I closed a little over a year ago. The customer service at Vanguard is pre...
by bada bing
Tue Sep 27, 2016 10:32 pm
Forum: Investing - Help with Personal Investments
Topic: How to put 53K in tax advantaged account
Replies: 10
Views: 1764

Re: How to put 53K in tax advantaged account

Here is what it would look like if over 50: Pre-tax $18,000 Pre-tax Catchup: $6,000 Match $9,000 Post-Tax $20,000 Total: $53,000 Once the year is over you can send an email and they will flip your Post-Tax contribution to Roth (Mega Roth). I haven't actually done the mega Roth, but it is a pretty c...
by bada bing
Mon Sep 19, 2016 11:05 pm
Forum: Investing - Help with Personal Investments
Topic: Non-Deductible Trad IRA or Roth 401k
Replies: 2
Views: 243

Re: Non-Deductible Trad IRA or Roth 401k

You need to check on the details of your 401K plan. If it allows after tax contributions above the $18K annual qualified limit and also allows either in plan roll overs and/or in plan conversions, you can do what is called a "Mega Backdoor Roth". Google it for lots of info on the various p...
by bada bing
Sun Sep 18, 2016 11:06 pm
Forum: Investing - Help with Personal Investments
Topic: Which company to invest with
Replies: 11
Views: 1702

Re: Which company to invest with

Of the brokerages I've had accounts with: I like and recommend Schwab or Fidelity. I've had accounts with both for over 25 years. If you have a nearby brick and mortar outlet of one but not the other, that would make the choice simple to me. I would absolutely avoid Merrill Lynch. Had an account bac...
by bada bing
Sun Sep 11, 2016 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: Would it make sense for me to not max out my 401K?
Replies: 71
Views: 8200

Re: Would it make sense for me to not max out my 401K?

OP, you possibly have some opportunities available you could benefit from greatly. With $270K in taxable at your age, I would strongly consider a Mega backdoor rollover to get some or all of the taxable $$$ shuttled into a Roth. You have the time horizon where this would be a no brainer. I would che...
by bada bing
Sun Sep 11, 2016 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio advice - help me guide my 80 year old mother!
Replies: 8
Views: 914

Re: Portfolio advice - help me guide my 80 year old mother!

I'm in a very similar place with my mother. After my dad died, I took her down to the local Schwab branch and helped her open a taxable account and an IRA. Schwab is particularly good with doing retirement account rollovers and it was a godsend. My dad's IRA was at a small local credit union and the...
by bada bing
Sat Sep 10, 2016 11:01 pm
Forum: Investing - Help with Personal Investments
Topic: Mega++ backdoor question
Replies: 5
Views: 951

Re: Mega++ backdoor question

My idea, since all three pieces required are allowed by my 401K plan, is to make a non-deductible contribution to a tIRA ($5500 + $1000 catch up), roll that IRA into my 401K, then include that money as after tax $$ in the Mega Backdoor for the year. The reason I would like to do that is it would be...
by bada bing
Fri Sep 09, 2016 11:18 am
Forum: Investing - Help with Personal Investments
Topic: Mega++ backdoor question
Replies: 5
Views: 951

Mega++ backdoor question

Hello all, My first post here, I've been a lurker for a few months. I have a question about an idea I have to increase the amount of $$$ I can shuttle into my Roth IRA over the next couple years. I have ~$200K of taxable savings I would love to get into my Roth, but I only have 4 more tax years of p...