Search found 80 matches

by WannabeBogleHead01
Wed Feb 03, 2021 9:26 am
Forum: Personal Finance (Not Investing)
Topic: New LLC; may not need for years. What to do?
Replies: 5
Views: 546

Re: New LLC; may not need for years. What to do?

I'm a little confused. To my knowledge, any LLC has to be registered with the state. Are you saying that this was done, but that LegalZoom handled the logistics? Or are you saying this was not done?

Yes, it was done, and LegalZoom handled the logistics (my state is Michigan.)
by WannabeBogleHead01
Tue Feb 02, 2021 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: New LLC; may not need for years. What to do?
Replies: 5
Views: 546

Re: New LLC; may not need for years. What to do?

My LLC election was through LegalZoom, not the Secretary of State. LegalZoom is all I've used so far. Unsure if that's OK.

There is definitely no income, nor do I see any for a while. So do I need to do anything? Sounds like a no.
by WannabeBogleHead01
Tue Feb 02, 2021 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: New LLC; may not need for years. What to do?
Replies: 5
Views: 546

New LLC; may not need for years. What to do?

I have a friend that asked if I could do some consulting work for him, but to do it, I had to have an LLC. I agreed, spent the $750 with LegalZoom to set it up, and now the friend is unable to use my services. In the mean time, a salesperson from 1-800ACCOUNTANT (LegalZoom partner) has reached out t...
by WannabeBogleHead01
Sun Jan 31, 2021 6:26 am
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 466
Views: 38807

Re: What is Your Age and Asset Allocation?

I'm 52; wife 50.

50% Domestic Stocks
20% International Stocks
30% Bonds

Planning on holding ratio until 60, then 40/20/40
by WannabeBogleHead01
Sun Jan 10, 2021 7:17 am
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 213
Views: 16662

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

MCOL area, no mortgage, no kids...

Lean = 50k
Fire = 80k
Phat = 125k
by WannabeBogleHead01
Wed Jan 06, 2021 2:46 pm
Forum: Personal Investments
Topic: Form 8606 errors; how to fix?
Replies: 8
Views: 539

Re: Form 8606 errors; how to fix?

Thanks again! So the instructions for Form 1040X reads: Changing your IRA deduction. In Part III of Form 1040-X, enter "IRA deduction" and the amount of the increase or decrease. If changing from a deductible to a nondeductible IRA contribution, also complete and attach Form 8606, Nondeduc...
by WannabeBogleHead01
Wed Jan 06, 2021 2:31 pm
Forum: Personal Investments
Topic: Form 8606 errors; how to fix?
Replies: 8
Views: 539

Re: Form 8606 errors; how to fix?

So I'm in TurboTax.com now, trying to amend the 2019 return. Followed steps to select which form to amend, but 8606 isn't appearing as an option, even though it is within the PDF from TurboTax.

I do see a 1099-R, which has the amount correct ($7,000.) Still not sure what to do next; any thoughts?
by WannabeBogleHead01
Wed Jan 06, 2021 2:07 pm
Forum: Personal Investments
Topic: Form 8606 errors; how to fix?
Replies: 8
Views: 539

Form 8606 errors; how to fix?

I use TurboTax, and after looking over my previous returns for 2018 and 2019, noticed that Form 8606 looks incorrect on both years, meaning I was taxed for both backdoor Roth IRA's, and am wondering how to fix. For 2019, Form 8606 has nothing on the entire first page (Box 1-15c). Then, on the second...
by WannabeBogleHead01
Sat Dec 19, 2020 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Poll: how much annual income do you think you need in retirement?
Replies: 113
Views: 8637

Re: Poll: how much annual income do you think you need in retirement?

Shooting for $72k/year net. Still a few years away. No mortgage/car payments. Also Western Michigan.
by WannabeBogleHead01
Wed Oct 28, 2020 6:42 am
Forum: Investing - Theory, News & General
Topic: first million [in your retirement portfolio]
Replies: 215
Views: 35505

Re: first million

Hit it at 48. Started saving in mid-twenties, but didn’t get serious until I hit 40.
by WannabeBogleHead01
Fri Sep 11, 2020 8:04 am
Forum: Personal Investments
Topic: OK to change old SEP-IRA funds?
Replies: 3
Views: 210

Re: OK to change old SEP-IRA funds?

Done; thank you!
by WannabeBogleHead01
Fri Sep 11, 2020 7:43 am
Forum: Personal Investments
Topic: OK to change old SEP-IRA funds?
Replies: 3
Views: 210

OK to change old SEP-IRA funds?

Pretty sure I know the answer, but want to verify; thanks in advance for the help. My spouse has an old SEP-IRA that currently holds International Equities. It has an expense ratio of 0.11. My 401k has an International Equity option, with an expense ratio of 0.05, and I'm thinking about adding more ...
by WannabeBogleHead01
Tue Sep 01, 2020 5:12 am
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 466
Views: 38807

Re: What is your age and asset allocation ?

51 and 49. 70/30 for 4 or 5 more years, then 60/40.
by WannabeBogleHead01
Sat Aug 29, 2020 5:30 am
Forum: Personal Investments
Topic: Asset Allocation for 47 year old
Replies: 25
Views: 2343

Re: Asset Allocation for 47 year old

51 here; been 70/30 for last 5 years. Plan on staying there for 5-10 more, then 60/40.
by WannabeBogleHead01
Sun Jun 28, 2020 5:00 am
Forum: Personal Investments
Topic: Ready to start Megaback Roth IRA- need guidance
Replies: 7
Views: 820

Re: Ready to start Megaback Roth IRA- need guidance

I’m essentially doing the same thing. One snag I found is that we’re only allowed to convert to Roth IRA 5x/year, and there’s a fee each time of $20. Still a great deal, but worth checking to see if you have a limit and fee as well.
by WannabeBogleHead01
Mon Apr 20, 2020 3:52 pm
Forum: Personal Investments
Topic: Looking to streamline 401k and taxable funds for TLH
Replies: 2
Views: 176

Looking to streamline 401k and taxable funds for TLH

I'd like to ensure I have appropriate TLH pairs in my Taxable account that don't conflict with my existing 401k options. My current 401k options are ( bold denotes currently invested): Fund - Expense Ratio - Closest tracking index Large Cap US Stock Index - 0.02% - S&P 500 Small & Mid US Sto...
by WannabeBogleHead01
Sun Apr 05, 2020 5:24 am
Forum: Personal Investments
Topic: Seasoned Bogleheads; What 3 Things Have You Done Financially Related to the Economy Recently
Replies: 112
Views: 11531

Re: Seasoned Bogleheads; What 3 Things Have You Done Financially Related to the Economy Recently

1. Tax loss harvested in taxable
2. Stopped investing in taxable to increase EF
3. Done more yard work in past month then I’ve done in years
by WannabeBogleHead01
Wed Apr 01, 2020 12:53 pm
Forum: Personal Investments
Topic: Mega Backdoor Contribution % question
Replies: 20
Views: 1488

Re: Mega Backdoor Contribution % question

An update: I've learned a few additional details about my specific plan, which in turn leads to a couple new questions. New information... There is no company true-up, meaning I'll have to time my contributions to the last paycheck of the year They do continue matching, meaning that once I'm only co...
by WannabeBogleHead01
Fri Feb 21, 2020 6:34 am
Forum: Personal Finance (Not Investing)
Topic: Basic HSA question
Replies: 14
Views: 1379

Re: Basic HSA question

I keep receipts as well (second tier Emergency Fund), but have a threshold. Any medical expense > $500 I save the receipt. May never use them, but having the threshold minimizes the receipts I need to keep track of.
by WannabeBogleHead01
Mon Feb 17, 2020 6:00 am
Forum: Investing - Theory, News & General
Topic: At what age did you begin adding bonds?
Replies: 138
Views: 7685

Re: At what age did you begin adding bonds?

Started buying bonds in early 40’s. Now in early 50’s and at 70/30. Will stay there another few years with long-term AA at 60/40.
by WannabeBogleHead01
Mon Feb 03, 2020 8:09 pm
Forum: Personal Consumer Issues
Topic: [Books that changed your life]
Replies: 577
Views: 63057

Re: Books that changed your life

“Don’t Make Me Think” by Steve Krug.

Easy, quick read. I’ve never looked at a website the same since I read it.
by WannabeBogleHead01
Mon Feb 03, 2020 7:55 pm
Forum: Personal Consumer Issues
Topic: Keep long-term care or not?
Replies: 9
Views: 1123

Re: Keep long-term care or not?

Thanks for all the responses. In short, I think I need to dig a lot deeper in order to make an educated decision. Have asked rep to mail me the policy; may take a couple weeks. I’m going to renew for three months while I dig. Questions I have answers for: The policy is only for me; spouse not includ...
by WannabeBogleHead01
Mon Feb 03, 2020 10:27 am
Forum: Personal Consumer Issues
Topic: Keep long-term care or not?
Replies: 9
Views: 1123

Keep long-term care or not?

Up until January 2020, my employer offered a LTC option through MetLife that was automatically deducted from our paychecks. I'e been paying the fee for years as it was relatively inexpensive. Our company was acquired, and the LTC option is no longer available through my employer. I received my first...
by WannabeBogleHead01
Tue Jan 21, 2020 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: What are you doing differently this year?
Replies: 41
Views: 3715

Re: What are you doing differently this year?

2020 is the first year I’m able to use the Mega-Backdoor (After-tax) option in my 401k. Pretty excited to learn the details and put more into Roth account.
by WannabeBogleHead01
Fri Jan 10, 2020 5:43 am
Forum: Personal Investments
Topic: Where do you keep your Emergency Funds? How is it invested?
Replies: 139
Views: 12224

Re: Where do you keep your Emergency Funds? How is it invested?

Another fan of Vanguard Money Market Fund. Roughly 3-4 months worth.
by WannabeBogleHead01
Wed Jan 01, 2020 2:31 pm
Forum: Personal Investments
Topic: New 401k options... thoughts?
Replies: 5
Views: 328

Re: New 401k options... thoughts?

Thanks a lot for the help. Unfortunately, I think we're at the end of this thread. The Bond fund looks like it may be specific to my MegaCorp. The name of the fund within the 401k is "MEGACORP Total Return Bond." Searching Google for "Fidelity Total Return Bond" produces similar ...
by WannabeBogleHead01
Wed Jan 01, 2020 12:05 pm
Forum: Personal Investments
Topic: Mega Backdoor Contribution % question
Replies: 20
Views: 1488

Re: Mega Backdoor Contribution % question

My salary is ~$200k, which includes bonus. Expected 2020 household income is ~$280k. From all my reading on this wonderful forum, I'm assuming traditional 401k is the best option. As I understand it, the max for 2020 is $57k. For me, that would be $19,500 + ~$14,500 (match) = $34,000. 57,000 - 34,00...
by WannabeBogleHead01
Wed Jan 01, 2020 11:54 am
Forum: Personal Investments
Topic: New 401k options... thoughts?
Replies: 5
Views: 328

Re: New 401k options... thoughts?

Which fund company manages the bond fund? Fidelity What is the ticker symbol if any? I don't know; can't find it unfortunately. It does say that the benchmark is "BBgBarc U.S. Agg Bond". What is the average effective duration? Not exactly sure, but found this: Duration 5.95 years. Weighted...
by WannabeBogleHead01
Wed Jan 01, 2020 11:37 am
Forum: Personal Investments
Topic: Mega Backdoor Contribution % question
Replies: 20
Views: 1488

Re: Mega Backdoor Contribution % question

Within the plan highlights, there's a section on Roth Conversions. It says: You can convert your after-tax balances into Roth balances to create an even larger tax-free income source for retirement. This can be a very effective savings strategy, especially for participants who wish to maximize their...
by WannabeBogleHead01
Wed Jan 01, 2020 11:29 am
Forum: Personal Investments
Topic: New 401k options... thoughts?
Replies: 5
Views: 328

New 401k options... thoughts?

Our company was acquired by MegaCorp, and we are using their 401k options as of today. Details: Have always looked at portfolio as a whole, rather than by account type. Always used 401k for Bond portion. Portfolio at 70/30 today, moving to 65/35 within 3-4 years. In my (now) previous 401k, my select...
by WannabeBogleHead01
Wed Jan 01, 2020 10:56 am
Forum: Personal Investments
Topic: Mega Backdoor Contribution % question
Replies: 20
Views: 1488

Re: Mega Backdoor Contribution % question

sailaway wrote: Wed Jan 01, 2020 10:38 am How does your matching program work?
Well, we were acquired, and this is first year on new MegaCorp plan, but we previously had a true-up option. I would expect same, as they have continued our company match (7%) which is more than their “regular” match.
by WannabeBogleHead01
Wed Jan 01, 2020 10:31 am
Forum: Personal Investments
Topic: Mega Backdoor Contribution % question
Replies: 20
Views: 1488

Mega Backdoor Contribution % question

Starting today I have access to the Mega Backdoor option (After-tax.) Logged in to account, and have the following options: Before-Tax % Roth % After-Tax % Employee Pre-Tax Catch-Up % Employee Roth Catch-Up % Was planning on maxing out MBD Roth instead of putting excess into taxable this year, as di...
by WannabeBogleHead01
Wed Oct 23, 2019 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Spending Money - Surprising Low Fun Return
Replies: 58
Views: 6804

Re: Spending Money - Surprising Low Fun Return

For those interested in what actually generates happiness (data-driven, reviewing dozens of studies), I highly recommend the course, “The Science of Well-Being” at Coursera. And it’s free. https://www.coursera.org/learn/the-science-of-well-being It’s taught by a Yale professor, and (I’ve read) it’s ...
by WannabeBogleHead01
Wed Oct 02, 2019 7:23 am
Forum: Personal Investments
Topic: Mega backdoor right for me?
Replies: 9
Views: 641

Mega backdoor right for me?

I am starting with a new company's benefits in 2020. Open enrollment begins in a few weeks, and new benefit information is trickling in, including the option of an After-Tax 401k (new to me.) I've read through a number of previous threads, and there are a few common questions that seem to be asked, ...
by WannabeBogleHead01
Thu Jan 31, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: People with websites as side hustle or business, what marketing channels do you use
Replies: 27
Views: 2752

Re: People with websites as side hustle or business, what marketing channels do you use

I’d recommend getting the basics of SEO right for any website. I used to run my own sites (roughly 2001-2008) as I side-hustle before it was even a term. Have been doing SEO at Fortune 100 companies ever since. Would recommend starting here: https://moz.com/beginners-guide-to-seo And if you go down ...
by WannabeBogleHead01
Wed Dec 19, 2018 3:01 pm
Forum: Investing - Theory, News & General
Topic: Optimal percent by account type at retirement?
Replies: 6
Views: 407

Optimal percent by account type at retirement?

This stems from the thread where @4nursebee was feeling cheated by putting too much in the 401k (https://www.bogleheads.org/forum/viewtopic.php?f=10&t=266824). Not sure whether there’s a right answer or not, but should there be a goal as to how much of total assets are in each account type at re...
by WannabeBogleHead01
Sat Dec 01, 2018 1:18 pm
Forum: Personal Investments
Topic: New 401k has terrible fees; options?
Replies: 22
Views: 1210

Re: New 401k has terrible fees; options?

InertiaMan wrote: Sat Dec 01, 2018 1:15 pm It wasn't clear from the original post and follow up if your wife has kept the 401k intact from her original stint at this company, or if you rolled over.
It was rolled into her Vanguard IRA as soon as we possibly could. Good point tho; thanks for bringing it up.
by WannabeBogleHead01
Sat Dec 01, 2018 1:16 pm
Forum: Personal Investments
Topic: New 401k has terrible fees; options?
Replies: 22
Views: 1210

Re: New 401k has terrible fees; options?

ruralavalon wrote: Sat Dec 01, 2018 12:33 pm Will either or both of you be eligible for a significant pension?
No, neither of us are eligible for a pension.
by WannabeBogleHead01
Fri Nov 30, 2018 4:05 pm
Forum: Personal Investments
Topic: New 401k has terrible fees; options?
Replies: 22
Views: 1210

New 401k has terrible fees; options?

We max out our 401k’s every year. Starting in January, my DW is starting a job where the average fees on the limited index funds are > 1% (some are 1.15%.) Most I’ve seen in previous 401k’s are below 0.20%. For reference, we’re in the 24% bracket. She’s at least 12 years from retiring. In 2020, she’...
by WannabeBogleHead01
Fri Nov 30, 2018 3:28 pm
Forum: Personal Investments
Topic: Appropriate HSA Allocations
Replies: 8
Views: 1343

Re: Appropriate HSA Allocations

mhalley wrote: Fri Nov 30, 2018 2:05 pm Some have advocated higher stock allocations to Roth, and to me that logic applies even more to the hsa.
+1

Our HSA and Roth’s are 100% stock, with Bonds in 401k. Overall AA is 70/30 stocks/bonds.
by WannabeBogleHead01
Mon Nov 05, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 123
Views: 20661

Re: Are we in trouble?

I’d lower the price on the Chicago home. Our story... left Chicago > 10 years ago for employment in a different state. Realtor gave us 2 prices... the first would allow us to make a little money (very little; think housing market in 2008), and the second would be a price where the house would sell i...
by WannabeBogleHead01
Tue Oct 30, 2018 6:43 am
Forum: Personal Investments
Topic: Unique TLH question... maybe
Replies: 11
Views: 1141

Re: Unique TLH question... maybe

VERY helpful... Thanks everyone! I love this place!
by WannabeBogleHead01
Mon Oct 29, 2018 7:51 am
Forum: Personal Investments
Topic: Unique TLH question... maybe
Replies: 11
Views: 1141

Re: Unique TLH question... maybe

Thanks for the response. I do have realized gains to absorb the losses...
For reference, I have roughly $6k in Vanguard Explorer long-term gains
So knowing that, does it makes sense to sell the losses to offset the gains (and minimize the higher ER account?)

Thanks!
by WannabeBogleHead01
Mon Oct 29, 2018 6:43 am
Forum: Personal Investments
Topic: Unique TLH question... maybe
Replies: 11
Views: 1141

Unique TLH question... maybe

About a month ago I posted a question ( https://www.bogleheads.org/forum/viewtopic.php?f=1&t=259794&p=4135947 ) on minimizing old taxable accounts for simplicity, and due to higher than normal fees. For reference, I have roughly $6k in Vanguard Explorer long-term gains (VEXPX - ER 0.44) that...
by WannabeBogleHead01
Wed Oct 03, 2018 6:09 am
Forum: Personal Investments
Topic: Exchanging within HSA taxable event or not?
Replies: 1
Views: 236

Exchanging within HSA taxable event or not?

I'm looking to exchange within my HSA, from one fund to another (currently have two holdings; want to move to 1.) Is this considered a taxable event? I checked the Wiki, and looked online, but no luck. Thanks!
by WannabeBogleHead01
Tue Sep 25, 2018 12:25 pm
Forum: Personal Investments
Topic: Exchanging within taxable acct; is this a good idea?
Replies: 12
Views: 973

Re: Exchanging within taxable acct; is this a good idea?

livesoft wrote: Tue Sep 25, 2018 12:12 pm While the VFIAX has short-term gains, they cannot be all that much, can they? In the past year, VFIAX is up only 10% or something like that, right?
Roughly $4k in gains in VFIAX; all short-term.