Search found 52 matches

by bada bing
Thu Jun 21, 2018 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 339
Views: 29960

Re: What is/ was your career and would you recommend it now?

Oil & Gas production operator for 25 years now. Would I recommend it ? Maybe. It takes a 2 year AS degree and a robust physical and mental constitution. It normally takes a few years working as a contractor to move into a company job. Pros: It pays pretty well for a blue collar position. I'll make $...
by bada bing
Tue Jun 05, 2018 7:26 am
Forum: Personal Finance (Not Investing)
Topic: What is your Take Home Pay / Gross Pay ratio?
Replies: 75
Views: 5835

Re: What is your Take Home Pay / Gross Pay ratio?

43% last year I do a full mega-backdoor 401K + catchup and a HSA (single guy). Typical deductions for insurances (life, health, disability). It seems like a big bite, but I end up with enough to stay happy and not enough to get into too bad trouble. I manage to save a little outside of work plans fr...
by bada bing
Sat Apr 28, 2018 6:38 am
Forum: Personal Finance (Not Investing)
Topic: How long have you been unemployed?
Replies: 60
Views: 5858

Re: How long have you been unemployed?

I was laid off in a plant closure in 2007. I already had negotiated a new job prior to layoff and the new employer had wanted me to quit and onboard with them a couple months prior to my lay-off date. I negotiated to start work with them six weeks after my existing job ended. I was paid 1 year in se...
by bada bing
Fri Feb 16, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my pension as investment
Replies: 1
Views: 431

Evaluate my pension as investment

I have a question on how a person would evaluate and manage a cash balance pension as part of their overall AA. I have an active cash balance pension, paid for by my employer and managed by Fidelity. It has a cash balance that can be annuitized at whatever the prevailing rates at the time of electio...
by bada bing
Wed Feb 14, 2018 9:26 am
Forum: Investing - Help with Personal Investments
Topic: streamline mega backdoor roth conversions?
Replies: 6
Views: 751

Re: streamline mega backdoor roth conversions?

My employer's 401K is with Fidelity. It is just one call, no paperwork. One thing that I do that could be useful in cutting down the number of conversions. I pay the deductible contributions first until reaching the limit, and then the contributions roll into after tax. My employer pays match on any...
by bada bing
Thu Feb 08, 2018 4:09 pm
Forum: Personal Consumer Issues
Topic: What time do you go to work?
Replies: 72
Views: 5819

Re: What time do you go to work?

Shuttle bus departs Base Operations Camp in western Prudhoe Bay at 6:00. If it's A.M. or P.M. depends on whether I'm working day shift or night shift. It is hard to tell which sometimes because the sun doesn't go down in the arctic in the summer and it doesn't come up in the winter. Transit time to ...
by bada bing
Sun Jan 28, 2018 9:43 pm
Forum: Investing - Help with Personal Investments
Topic: Does anyone own gold?
Replies: 25
Views: 2432

Re: Does anyone own gold?

I have about 7 oz in bullion grade old euro-coins. Mostly French Angels and Roosters. My cost basis is under $300 oz, I've had it for a long time. I also have $250 face value in pre-65 US silver coins. I also own about 12K rounds of good NATO milspec ammo, mostly 5.56 with some 7.62 and 9x19mm. I al...
by bada bing
Sat Jan 27, 2018 1:45 pm
Forum: Investing - Help with Personal Investments
Topic: Money in tIRA from Backdoor Roth conversion
Replies: 6
Views: 450

Re: Money in tIRA from Backdoor Roth conversion

I've been doing backdoor Roth conversions for a few years. Every year there is a little bit of interest that shows up after the conversion that stays in the tIRA account I use for the first step. This year there is $.09 in the account. I wouldn't worry about it. In a weird way, my $.09 is better tha...
by bada bing
Fri Jan 26, 2018 8:46 pm
Forum: Investing - Help with Personal Investments
Topic: Investment options after maxing 401K and Roth?
Replies: 11
Views: 997

Re: Investment options after maxing 401K and Roth?

HSA - if you have a decent HDHP (high deductible health plan) available that meets your needs.
by bada bing
Fri Jan 26, 2018 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: Asset Allocation: keep it simple
Replies: 6
Views: 1151

Re: Asset Allocation: keep it simple

As you get larger balances into your taxable brokerage account, tax placement of your allocation becomes more important. Eventually you will want to break your allocation into a 3 fund so you can get best tax treatment for parts of the allocation held in taxable. It will become worth a bit of math h...
by bada bing
Thu Jan 25, 2018 2:08 pm
Forum: Investing - Theory, News & General
Topic: 401k millionaires
Replies: 158
Views: 25403

Re: 401k millionaires

Under the current rules and with the market tailwind of the last 9 years, you could have done it (become a 401K millionaire) in just the last 9 years. Especially if the participant was 50+ years old in 2009. The all sources limit went from $49K + $5.5K in 2009 up to $55K + $6K in 2018. Quick seat of...
by bada bing
Sun Jan 21, 2018 3:39 pm
Forum: Investing - Help with Personal Investments
Topic: Mega back door roth
Replies: 13
Views: 1637

Re: Mega back door roth

Yes, a single check is a bad idea and should be avoided if possible. People have reported that incorrect amounts were deposited into the IRA accounts. However, the split rollover will affect any regular back door Roth you are doing now or later. Perhaps you are not doing a back door Roth because th...
by bada bing
Thu Jan 18, 2018 8:38 pm
Forum: Investing - Theory, News & General
Topic: Is there a reason I can't do a single-transaction rebalance in my IRAs?
Replies: 9
Views: 1095

Re: Is there a reason I can't do a single-transaction rebalance in my IRAs?

401k's typically have a pretty limited menu of investment options. Common in mega-corp plans are for the options to be proprietary investment trusts that aren't available to trade outside the plan. They are often in house products of the custodian. Swapping funds between the limited options is easy ...
by bada bing
Mon Jan 01, 2018 6:24 pm
Forum: Investing - Help with Personal Investments
Topic: Maxing out 401k Contributions
Replies: 11
Views: 1060

Re: Maxing out 401k Contributions

Since 10% = $18.5K, you are doing well for earnings. Well enough to make an investigation of your employer's plan potentially valuable. The questions I would ask are: 1. Does the match "true up" ? Will you get the match for paychecks after you hit the contribution limit ? 2. Do you have any extensio...
by bada bing
Sun Dec 24, 2017 5:23 pm
Forum: Investing - Theory, News & General
Topic: Who missed out on maximizing 401k?
Replies: 62
Views: 6315

Re: Who missed out on maximizing 401k?

It's pretty easy at Megacorp. The plan allows after-tax, switches to after-tax when the deferral limit is reached, and has a limit of 30% of salary on contri plan is equabutions. So I put it at 30%, then get all the deferrals and as much Mega Backdoor as can be squeezed out by year's end. My employ...
by bada bing
Sat Dec 23, 2017 4:10 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth with solo 401k
Replies: 7
Views: 1133

Re: Backdoor Roth with solo 401k

The important date for determining the pro-rata calculation is the last day of the year. Whatever tIRA balances you have on Dec 31 are what is counted for conversions you do during the calendar year. If you do a conversion before the end of 2017 you will need to have $0 tIRA balance on Dec 31, 2017 ...
by bada bing
Thu Dec 21, 2017 3:15 pm
Forum: Investing - Theory, News & General
Topic: Fidelity/NetBenefits vs. Vanguard vs. Schwab--Best Online 401k Account Management Website
Replies: 10
Views: 1361

Re: Fidelity/NetBenefits vs. Vanguard vs. Schwab--Best Online 401k Account Management Website

I currently have a Fidelity 401K and a Schwab solo401K. Both are fantastic and either are top of the heap. I might give a slight nod to Fidelity on website design and to Schwab for customer service, but it's basically a coin toss. I've never had a vanguard 401K but I've had a couple accounts there (...
by bada bing
Tue Dec 19, 2017 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: HSA investment options
Replies: 7
Views: 570

Re: HSA investment options

If you have the emergency fund available, I would use that. You can withdraw from a HSA tax free at anytime for covered medical expenses that happened in the past. Just save your receipts and your HSA becomes a tax free account up to the balance you have paid any time for qualified medical expenses....
by bada bing
Tue Dec 19, 2017 4:11 pm
Forum: Investing - Theory, News & General
Topic: Back door ROTH
Replies: 2
Views: 608

Re: Back door ROTH

Re-characterization is what is used for a technique called the Roth "horse race". That is where you convert several chunks of tIRA money into separate Roths at the beginning of the year and invest them in different asset classes. At the end of the year you "re-characterize" all the investments excep...
by bada bing
Tue Dec 19, 2017 3:59 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 132
Views: 12726

Re: Best 401k Employer Match Structure

My company LinkedIn (Microsoft) provides 50% match on 401K contributions up to $18000 of contribution in 2017. Vesting is immediate. It is forcing me to contribute all $18K to get the matching contribution. But I think it is a pretty competitive plan. As I mentioned above, Microsoft's plan also all...
by bada bing
Sun Dec 17, 2017 12:39 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 132
Views: 12726

Re: Best 401k Employer Match Structure

If you want to see the very generous end of the 401k matching spectrum, check the oil and gas industry. You can find all of their 401k plans with a google search. I just found Shell, Chevron, ExxonMobil, Anadarko, Devon, and Marathon. Most match at 100% up to at least 6-7%. Some of them contribute ...
by bada bing
Sat Dec 16, 2017 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?
Replies: 24
Views: 3812

Re: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?

My employer's 401K plan is at Fidelity and allows the components to accomplish the mega-backdoor Roth. I would guess that most plans that allow the mega-backdoor are with one of the major custodians like Fidelity and Vanguard. I have found that my assigned customer service rep is the best source of ...
by bada bing
Fri Dec 15, 2017 8:12 pm
Forum: Investing - Help with Personal Investments
Topic: PLEASE HELP: Setting up new individual 401k
Replies: 13
Views: 879

Re: PLEASE HELP: Setting up new individual 401k

I set up a solo 401K at Schwab 3 years ago. After doing my study, I rejected Vanguard as a custodian for my solo 401K. The biggest reason is that Vanguard doesn't allow rolling in outside IRA money, but TBH Vanguard CSR's don't give me the greatest confidence when it comes to anything more complex t...
by bada bing
Wed Dec 13, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 155
Views: 12121

Re: How much did you contribute to your 401k in 2017?

I'll hit the $60K all sources plus catch up on the last paycheck of the year. The breakdown: $18K+$6K deductible contribution $12.5K employer match $23.5K after tax and mega-backdoor'd to Roth IRA I'm 59 y.o. It takes 25% salary deferral to make those numbers happen. I also did a $6.5K backdoor Roth...
by bada bing
Mon Nov 13, 2017 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Getting a home mortgage without spouse?
Replies: 43
Views: 3269

Re: Getting a home mortgage without spouse?

Credit Karma - and other sites offering FAKO scores - can be very misleading with respect to where you stand for a mortgage application. There are lots of places to get a true FICO8 score, which is what your mortgage qualifies on. Creditchecktotal.com will give a free 3-bureau introductory score, ju...
by bada bing
Sun Oct 08, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Freeze - What did you do?
Replies: 85
Views: 9803

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: 42
Views: 6733

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: 2291

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: 21
Views: 4908

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: 7768

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: 62
Views: 12214

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: 1847

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: 4269

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: 1282

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: 19458

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: 964

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: 6345

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: 5337

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: 1908

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 advantaged sav...
by bada bing
Thu Jan 26, 2017 4:17 am
Forum: Investing - Help with Personal Investments
Topic: Maxing out investment vehicles
Replies: 5
Views: 953

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: 342

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: 7895

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: 795

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: 3483

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: 5162

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: 1884

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: 285

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 possible sc...
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: 1981

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: 9015

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: 1194

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...