Search found 38 matches

by seed4great
Sat May 18, 2019 5:16 pm
Forum: Personal Investments
Topic: Mega Backdoor Roth Questions
Replies: 34
Views: 2932

Re: Mega Backdoor Roth Questions

P.S. The easiest thing to do is roll everything to Roth IRA and pay taxes on the pre-tax money (the earnings that have accrued on your contributions). Even easier would be to have a regular rollover, let's say every month: put all after tax contributions into some money market fund (some plans allo...
by seed4great
Tue May 07, 2019 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP vs Kaiser HMO
Replies: 28
Views: 2469

Re: HDHP vs Kaiser HMO

One thing to know about Kaiser is that the hospitals and specialists tend to be concentrated in a few areas. If you need to see a particular specialist, it's probably worth checking to see if they have one near you . Probably not a big issue in the SF Bay Area though. Financially speaking, I don't ...
by seed4great
Tue May 07, 2019 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP vs Kaiser HMO
Replies: 28
Views: 2469

Re: HDHP vs Kaiser HMO

Thanks a lot for the responses! It appear after all Kaiser may not be as bad as I initially thought. These are more specifics about plans: PREMIUMS HS Basic Plan $18.17 HS Standard Plan $37.53 HS Premium Plan $48.91 Kaiser CA $54.09 COVERAGE HS Basic Plan Deductible $2,500, OOP $3,250, plan pays 80%...
by seed4great
Tue May 07, 2019 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP vs Kaiser HMO
Replies: 28
Views: 2469

HDHP vs Kaiser HMO

For employer sponsored health insurance, I always had a traditional PPO plan from UHC or BCBS through my career. Currently, I'm preparing to move to new job and they do not offer traditional PPO. Instead, they offer a few HDHP plans from UHC and no deductible plan from Kaiser California. I'm not tha...
by seed4great
Thu May 02, 2019 3:13 pm
Forum: Personal Investments
Topic: Mega backdoor Roth question
Replies: 13
Views: 1193

Re: Mega backdoor Roth question

I'm curious what are those after tax contribution subaccounts? Are they different from Roth 401K? Do they still count against $56K total contribution rule?
by seed4great
Thu May 02, 2019 12:53 pm
Forum: Personal Investments
Topic: Roth IRA: Mega-backdoor and ordinary backdoor
Replies: 6
Views: 663

Re: Roth IRA: Mega-backdoor and ordinary backdoor

In 2019, Mega-backdoor Roth contribution is limited by $56K and ordinary backdoor Roth by $6K (or $7K after 50). The question is whether $6K is included into $56K or not? Sorry if it has been discussed already: somehow cannot find much info on this topic. I thought I would add a couple more details...
by seed4great
Thu May 02, 2019 12:22 am
Forum: Personal Investments
Topic: Roth IRA: Mega-backdoor and ordinary backdoor
Replies: 6
Views: 663

Re: Roth IRA: Mega-backdoor and ordinary backdoor

Thank you, that was my impression too.
by seed4great
Wed May 01, 2019 11:43 pm
Forum: Personal Investments
Topic: Roth IRA: Mega-backdoor and ordinary backdoor
Replies: 6
Views: 663

Roth IRA: Mega-backdoor and ordinary backdoor

In 2019, Mega-backdoor Roth contribution is limited by $56K and ordinary backdoor Roth by $6K (or $7K after 50). The question is whether $6K is included into $56K or not? Sorry if it has been discussed already: somehow cannot find much info on this topic.
by seed4great
Mon Mar 25, 2019 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: What is the best gas credit cards hands down?
Replies: 65
Views: 6568

Re: What is the best gas credit cards hands down?

My PenFed Visa Platinum Cash Rewards card pays 5% back on gas purchases. And I just discovered , it now pays 3% back on grocery store purchases. No annual fee. I have the same card. No information on the Pen Fed site about the other rewards the card earns. How did you know about the 3% back on groc...
by seed4great
Mon Mar 25, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: [Retiring before 65: How do you deal with health insurance?]
Replies: 88
Views: 12145

Re: [Retiring before 65: How do you deal with health insurance?]

Spinola wrote:
Mon Mar 25, 2019 1:43 pm
Cobra, or retire to Canada, or a European country..
In Canada, there will be Canadian tax which is higher than US (you pay the highest one, according to the double taxation treaty). The only European country which does not impose tax on non-EU citizens for 10 years is Portugal.
by seed4great
Mon Mar 25, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: [Retiring before 65: How do you deal with health insurance?]
Replies: 88
Views: 12145

Re: [Retiring before 65: How do you deal with health insurance?]

FelixTheCat wrote:
Mon Mar 25, 2019 12:44 pm
I see people mentioning keeping their MAGI below 65K for couples. How did you figure it out? I'm single living in CA.
This is for a couple. MAGI for maximum subsidy you get as a single would be around $20K, but $30K would be still reasonable.
by seed4great
Mon Mar 18, 2019 1:14 pm
Forum: Personal Investments
Topic: Can't see retiring without 15x-30x fixed income
Replies: 217
Views: 18076

Re: Can't see retiring without 15x-30x fixed income

But there’s something wrong with the math in the second part of your comment. Even a lower spending level still requires a minimum multiple of that low spending for a “safe” withdrawal rate. I assume 15X - 20X is just a part of income. Most people would also have other income like SS, pension, rent...
by seed4great
Mon Mar 18, 2019 12:24 pm
Forum: Personal Investments
Topic: Can't see retiring without 15x-30x fixed income
Replies: 217
Views: 18076

Re: Can't see retiring without 15x-30x fixed income

No dilemma from my perspective. I have a set dollar amount I keep in safe fixed income which is primarily derived by calculating XX years of expenses each month. The rest is invested in equities. My struggle on whether or not to retire is not connected to finances rather how I would occupy my time ...
by seed4great
Fri Mar 15, 2019 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Property tax hacks in California
Replies: 59
Views: 6921

Re: Property tax hacks in California

Somehow nobody mentioned another part of Prop 13, in particular 1% cap: Proposition 13 capped, with limited exceptions, ad valorem property tax rates at one percent of full cash value at the time of acquisition. I wonder how anyone could pay $30K property tax for the home worth $2.5M, like topic sta...
by seed4great
Wed Mar 06, 2019 12:40 am
Forum: Personal Finance (Not Investing)
Topic: How long have you gone without a raise?
Replies: 75
Views: 6250

Re: How long have you gone without a raise?

It is also important, where you are with respect to the pay range correspondent to current position. If you are close to the upper bound, then likely you won't see any raise until you get promoted.
by seed4great
Tue Feb 26, 2019 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: If you currently or are planning to spend over $120k/year in retirement, what is your projected budget?
Replies: 196
Views: 15755

Re: If you currently or are planning to spend over $120k/year in retirement, what is your projected budget?

I'm single and live in the extremely high cost of living area but currently spend about $31K per year (health insurance is partially paid by employer). The most part of it is property tax which almost $13K. I have a nice but not that expensive car and also spend $2K to $3K per year for vacation in E...
by seed4great
Tue Feb 19, 2019 3:57 pm
Forum: Personal Consumer Issues
Topic: First thing(s) you'd do when you achieve financial independence?
Replies: 73
Views: 6316

Re: First thing(s) you'd do when you achieve financial independence?

Cycle wrote:
Mon Feb 18, 2019 9:43 am
Avoid business travel except if absolutely necessary.
Excellent point. First thing I would do: refuse to travel, when my corp want me to share a hotel room with my colleagues on a business trip!
by seed4great
Tue Jan 29, 2019 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?
Replies: 62
Views: 4751

Re: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?

I use TurboTax but always check the "FinanceBuff" notes on entry which help - looks like he has notes for TaxAct as well: https://thefinancebuff.com/how-to-backdoor-roth-taxact.html Thanks! Always a useful link but in this case the problem is a bug in taxact that is preventing reporting non-deducti...
by seed4great
Sun Jan 27, 2019 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: What Percentage of Your Pre-Retirement Income are You Projecting You Will Need?
Replies: 108
Views: 7893

Re: What Percentage of Your Pre-Retirement Income are You Projecting You Will Need?

Many retirees will end up with a significant expense for long-term care, medical costs, or helping a family member financially. All you can do is get good insurance (for the first two) and keep a financial cushion. This is true. Though the question is: how much money suppose to keep financial cushi...
by seed4great
Fri Jan 25, 2019 5:53 pm
Forum: Non-US Investing
Topic: Retiring abroad. Move taxable/checking accounts to Schwab?
Replies: 36
Views: 6419

Re: Retiring abroad. Move taxable/checking accounts to Schwab?

Hmmm. So to be clear, if I withdraw $500 in equivalent foreign currency from a foreign ATM, Fido charges me $500? If I buy $500 worth of stuff, food, clothing, etc. on my debit card, Fido charges me $505? So cash is fee-less? Why do I think I read that they charged 1% on all debit ATM withdrawals o...
by seed4great
Fri Jan 25, 2019 3:58 pm
Forum: Personal Consumer Issues
Topic: How will you spend your retirement money?
Replies: 86
Views: 10481

Re: How will you spend your retirement money?

Great point about health care. A coworker has proposed the idea of retiring early and moving to Canada for free health care. Is this feasible? There must be minimum residency requirements. In Canada, you have to be permanent resident to qualify for government ran health care. If you have close rela...
by seed4great
Fri Jan 25, 2019 3:42 pm
Forum: Personal Consumer Issues
Topic: How will you spend your retirement money?
Replies: 86
Views: 10481

Re: How will you spend your retirement money?

I plan to live at the same place, reduce all expenses as much as I can and spend almost everything on health care. With $1-2M savings, do I really have a choice? Health care cost will likely skyrocket in coming years: ACA is questionable and Medicare is running out of funds so it will be substantial...
by seed4great
Fri Jan 25, 2019 12:36 pm
Forum: Non-US Investing
Topic: Retiring abroad. Move taxable/checking accounts to Schwab?
Replies: 36
Views: 6419

Re: Retiring abroad. Move taxable/checking accounts to Schwab?

I have lived abroad for years while maintaining US mailing address for financial institutions (family member), have not done travel notifications, and no issues with transactions being declined. I do occasionally get texts asking me to confirm I initiated a particular transaction, but transaction s...
by seed4great
Thu Jan 24, 2019 10:10 pm
Forum: Non-US Investing
Topic: Retiring abroad. Move taxable/checking accounts to Schwab?
Replies: 36
Views: 6419

Re: Retiring abroad. Move taxable/checking accounts to Schwab?

What a great topic, with very useful info! But I do have a question to those who keep US home address, while living abroad and use debit card from Fidelity or Schwab for extended time: how do you notify card issuer about your location, and at the same time have US home address in their records? They...
by seed4great
Wed Aug 02, 2017 5:55 pm
Forum: Personal Consumer Issues
Topic: Retire early, live abroad until 65 and come back
Replies: 72
Views: 11243

Re: Retire early, live abroad until 65 and come back

This might be a good idea, but please don't forget about taxes. In addition to US tax, you would need to pay local tax in every country you live. Typically, it is 183 days rule. Many countries has tax treaties with US, but tax return will get really complicated (you can check my blog at http://seed4...
by seed4great
Tue Jul 18, 2017 2:43 pm
Forum: Personal Consumer Issues
Topic: ATM card for overseas travel
Replies: 25
Views: 2791

Re: ATM card for overseas travel

+1 for Fidelity Cash Mgmt Debit Card. No ATM fees and FX rates are very competitive. Fidelity Cash Mgmt Debit Card, charges 1% foreign transaction fee . "When used at an ATM, no foreign currency transaction fee is applied. When used for purchases (POS), the 1% foreign currency transaction fee is ap...
by seed4great
Tue Jul 11, 2017 4:49 pm
Forum: Personal Consumer Issues
Topic: Advice on a VOIP (Voice Over Internet Provider) App
Replies: 7
Views: 1223

Re: Advice on a VOIP (Voice Over Internet Provider) App

Hangouts/Google Voice is the best, because it is free to call any land line or cellular phone in US. Others like Viber charge money to call any non-VOIP phone number.
by seed4great
Sun Jul 09, 2017 11:11 am
Forum: Personal Finance (Not Investing)
Topic: How much of an increase of salary would you expect before switching jobs?
Replies: 94
Views: 8936

Re: How much of an increase of salary would you expect before switching jobs?

These are all great thoughts, and being in industry for >25 years I agree with pretty much every post. However, changing job if you are over 50 is really difficult. I assume it is even more challenging after 55. No matter, what benefits or salary raise you get.
by seed4great
Fri Jul 07, 2017 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: A good VISA card for Gas & Groceries?
Replies: 66
Views: 11812

Re: A good VISA card for Gas & Groceries?

Did you google this? I just did: http://www.magnifymoney.com/blog/earning-cashback/best-cash-back-cards-grocery-shopping The Consumers Credit Union visa gets you 3% on groceries and $100 bonus for $1k in spending in the first month. +1 I'm using this Visa card from CC with 2% cash back on gas and 3...
by seed4great
Wed Jul 05, 2017 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should I move abroad to minimize health care costs?
Replies: 80
Views: 9375

Re: Should I move abroad to minimize health care costs?

My health insurance costs went down to practically zero (BC requires a nominal payment of monthly premiums). However my income taxes went up substantially, meaning I had to pay far more out of pocket every year for the grand total cost of making the move. And this was moving from one of the highest...
by seed4great
Wed Jul 05, 2017 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: What are your health insurance stats?
Replies: 89
Views: 8597

Re: What are your health insurance stats?

Premium: $302/month for one (employer's part is separate) Deductible: $400 per individual/$1200 family maximum Co-insurance after deductible: 10% paid by me / 90% paid by plan (in network) OOP Max: $2,000 individual / $4,000 family (100% coverage after this limit) Geography: San Jose, CA Age: 50 Den...
by seed4great
Tue Jul 04, 2017 3:31 pm
Forum: Investing - Theory, News & General
Topic: What's the ideal safe retirement net worth target?
Replies: 264
Views: 60763

Re: What's the ideal safe retirement net worth target?

I also live in a Bay Area, single and spend around $32K per year for everything, including property tax. This even include some expensive overseas trips. Unfortunately, job opportunities in my occupation are shrinking and by that reason I try to estimate what would be the net worth when I stop worry...
by seed4great
Sat Jul 01, 2017 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should I move abroad to minimize health care costs?
Replies: 80
Views: 9375

Re: Should I move abroad to minimize health care costs?

Moving abroad is more and more difficult, and eventually will be almost impossible for Americans. Tax is not the most critical issue, although tax return indeed become really complicated. In order to live somewhere, you would need a bank account. You cannot even apply for residence without a bank ac...
by seed4great
Thu Jun 29, 2017 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirement - what to do about healthcare?
Replies: 228
Views: 37558

Re: Early Retirement - what to do about healthcare?

This is how you can go bankrupt because of medical expenses, even if you are insured and regardless of OOP limit on your insurance: there are procedures (still under research and not proven yet) which are not covered by insurance. But even if procedure is covered, deductables are already high for th...
by seed4great
Tue Jun 27, 2017 1:42 pm
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolio
Replies: 9
Views: 2445

Re: Schwab Intelligent Portfolio

OK, thanks for the opinion. I'll try to find if there was an existing discussion.
by seed4great
Tue Jun 27, 2017 1:22 pm
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolio
Replies: 9
Views: 2445

Schwab Intelligent Portfolio

Did anyone use this tool from Schwab? It looks like a robo manager with no fees. Anything good for beginner investor? It would be nice, if anyone can share experience with it, or useful thoughts.
by seed4great
Wed Dec 07, 2016 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Where to move to for lowest health care costs (for nomad types)
Replies: 34
Views: 4022

Re: Where to move to for lowest health care costs (for nomad types)

Well, it depends how important health care cost for you. I believe Texas still has one of the lowest healthcare cost in the nation, along with California, Utah and NewMexico - there was a nice article about that: http://www.huffingtonpost.com/gobankingrates/10-best-and-worst-states_b_9030422.html. B...
by seed4great
Wed Dec 07, 2016 7:33 pm
Forum: Personal Investments
Topic: Are Bonds a Good Investment Now?
Replies: 35
Views: 6453

Re: Are Bonds a Good Investment Now?

I am not sure why there are talk to put money into very long term CD, while interest rate is so low nowdays? Andrews CU is an exception, and I did hear it is not a place where you want to keep your money: please check ratings. Typical rates for 5yr CD at descent financial institutions is around 2%. ...