Search found 97 matches

by monsterid
Sun Jun 18, 2017 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1478

Re: Tax Strategy for 1099 Income

I am in the EXACT situation you are with W2 income + 1099 income. I do this: - Max 18k into W2 401k - Get any W2 401k match - Contribute 20% of net profit from schedule C to individual 401k pre-tax account - Contribute up to $54k (less all previous contributions above) to individual 401k after tax n...
by monsterid
Mon May 22, 2017 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Term Insurance via 401k
Replies: 5
Views: 555

Re: Buying Term Insurance via 401k

I have an individual 401k with custom docs which allow this.

Sounds like there is virtually no upside.
by monsterid
Mon May 22, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Term Insurance via 401k
Replies: 5
Views: 555

Buying Term Insurance via 401k

Hi all, I'm 30 year old male, whose likely to get engaged in the next 12 months. I've been looking into term life insurance as is best boglehead's practice! I have a individual 401k, I was wondering if it's worth and/or advantageous to buy my term insurance via the 401k at all? Are there tax advanta...
by monsterid
Thu May 18, 2017 5:31 pm
Forum: Investing - Theory, News & General
Topic: For those with $500k-$1m in investments...
Replies: 138
Views: 14163

Re: For those with $500k-$1m in investments...

Age: 30
70% Taxable / 30% Retirement
by monsterid
Tue Apr 18, 2017 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford private school for my kids?
Replies: 67
Views: 5880

Re: Can I afford private school for my kids?

As a kid that went through a Christian elementary school (private) and then to public high school and university I have to say I thought the public system was far better for my education and growth as an individual then the private tuition. Financially obviously it was also beneficial to my family a...
by monsterid
Wed Apr 05, 2017 10:17 am
Forum: Personal Finance (Not Investing)
Topic: High Income earners, whats your Tax Strategy?
Replies: 113
Views: 12415

Re: High Income earners, whats your Tax Strategy?

Generating some self employment income and writing off appropriate expenses through Schedule C. Also opens up potential individual 401k options which could allow you to take advantage of difference between contribution + match at your day job and the $54k cap.
by monsterid
Mon Mar 20, 2017 3:20 am
Forum: Investing - Help with Personal Investments
Topic: Generating income on margin to avoid paying margin interest
Replies: 4
Views: 478

Re: Generating income on margin to avoid paying margin interest

I don't hate it. It's obviously a "more advanced" funding strategy. I have access to a $200k personal line with my bank at 75bp over LIBOR at any time. It's super hard to ignore a cost of capital that low when looking at potential investments. Goes without saying adding leverage to any inv...
by monsterid
Sat Mar 18, 2017 11:01 pm
Forum: Investing - Help with Personal Investments
Topic: SEP-IRA and 1099 Income
Replies: 12
Views: 762

Re: SEP-IRA and 1099 Income

Go with the solo 401k, it's more advantageous than SEP IRA and preserves backdoor roth optionality without associated tax complications!

It's what I've done myself.
by monsterid
Thu Mar 16, 2017 5:32 am
Forum: Investing - Help with Personal Investments
Topic: 401(k) Traditional vs Roth
Replies: 26
Views: 1922

Re: 401(k) Traditional vs Roth

Traditional
by monsterid
Wed Mar 15, 2017 1:33 am
Forum: Investing - Help with Personal Investments
Topic: Expat Wanting to Invest in Vanguard
Replies: 4
Views: 600

Re: Expat Wanting to Invest in Vanguard

Just put a google voice number?!
by monsterid
Tue Mar 14, 2017 3:31 am
Forum: Personal Finance (Not Investing)
Topic: Did I Buy Too Much Home?!?!?!
Replies: 42
Views: 4956

Re: Did I Buy Too Much Home?!?!?!

In Sydney, Australia, the median household income is $84,600 and the median house price is $1,032,000. Australians still buy houses and live in them. You'll probably be fine unless you get laid off for a long period of time. An amazing statistic! How? At zero percent interest the principal alone wo...
by monsterid
Tue Mar 14, 2017 12:53 am
Forum: Personal Finance (Not Investing)
Topic: Did I Buy Too Much Home?!?!?!
Replies: 42
Views: 4956

Re: Did I Buy Too Much Home?!?!?!

I think you are 100% fine. The refined answer would need to look at your savings rate / expenses, but given you are posting here about being nervous I'm going to assume you'll be careful for the next few years and really attack this thing.

Congrats on the new house!
by monsterid
Thu Mar 09, 2017 11:12 am
Forum: Investing - Theory, News & General
Topic: Did you buy SNAP?
Replies: 116
Views: 11003

Re: Did you buy SNAP?

I'm in tech and I don't think it's a good investment. You are speculating for sure.
by monsterid
Wed Mar 01, 2017 1:32 pm
Forum: Investing - Help with Personal Investments
Topic: Timing the Market (just once)
Replies: 37
Views: 3271

Re: Timing the Market (just once)

Kaoboj wrote:I know I shouldn't try to time the market.
I don't think I have any special insight into when the next correction will hit, but I think it'll be in the next 5 years.


One for the history books =)
by monsterid
Wed Mar 01, 2017 10:22 am
Forum: Personal Finance (Not Investing)
Topic: LLC vs. S-corp
Replies: 22
Views: 1432

Re: LLC vs. S-corp

Correct Wife still has some FICA tax. However I view the flexibility around individual 401k / SEP IR, deductibility on schedule C and simplicity of the LLC as still more beneficial than S-Corp.
by monsterid
Wed Mar 01, 2017 12:05 am
Forum: Personal Finance (Not Investing)
Topic: LLC vs. S-corp
Replies: 22
Views: 1432

Re: LLC vs. S-corp

If you have other W2 income over the c.$120k FICA threshold then the benefit of electing S-Corp is virtually zero. Keep that in mind.
by monsterid
Mon Feb 27, 2017 7:34 pm
Forum: Investing - Help with Personal Investments
Topic: schwab lowering ER's
Replies: 27
Views: 3434

Re: schwab lowering ER's

jacoavlu wrote:in the process of setting up an individual 401k for my small amount of 1099 income
this may sway me to schwab - ultra low ER with no minimum - though it seems Schwab has no Roth option...
Vanguard does not permit admiral shares for solo 401k


i got custom docs drawn up and setup at schwab.
by monsterid
Sun Feb 26, 2017 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: How much are independent contractors really taxed?
Replies: 44
Views: 3568

Re: How much are independent contractors really taxed?

When I was living in California, I was looking at doing some part time work as an independent contractor in addition to my normal day job that already put me at the top of the 25% federal tax bracket. For each additional dollar I earned it would have been 25% Federal Tax + 15% Self Employment (FICA...
by monsterid
Sat Feb 25, 2017 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Delivering a Large Check
Replies: 37
Views: 3579

Re: Delivering a Large Check

We're now on 31 posts on this topic. I administered estates for leading corporate fiduciaries for 35 years and never did anything but obtain an appropriate receipt, release and possibly an indemnification agreement and mail the check by first class mail. Nothing else needed and never saw anyone not...
by monsterid
Sat Feb 25, 2017 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Another milestone post
Replies: 29
Views: 2007

Re: Another milestone post

Congrats
by monsterid
Fri Feb 24, 2017 12:13 am
Forum: Investing - Help with Personal Investments
Topic: risk of my Tesla deposit
Replies: 147
Views: 12589

Re: risk of my Tesla deposit

Yes it is "at risk". No I wouldn't worry.
by monsterid
Tue Feb 21, 2017 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Contributions to a non-deductible tIRA vs. taxable
Replies: 18
Views: 954

Re: Contributions to a non-deductible tIRA vs. taxable

SRenaeP wrote:Consider opening a solo 401k. Then roll the SEP-IRA into that. That will then clear the way for you to do backdoor Roth IRAs for you and DW.

-Steph


Do this.
by monsterid
Sun Feb 12, 2017 8:23 pm
Forum: Investing - Theory, News & General
Topic: Schwab lowers fees. Lowest out there?
Replies: 8
Views: 1176

Re: Schwab lowers fees. Lowest out there?

Yes it makes it the lowest out there. No a 0.02 difference in ER doesn't make a difference.

Both Vanguard and Schwab are good.
by monsterid
Sun Feb 12, 2017 6:30 pm
Forum: Investing - Help with Personal Investments
Topic: Need investment advice for a high tax bracket NYC resident
Replies: 13
Views: 1734

Re: Need investment advice for high tax bracket NYC resident

I'm in a somewhat similar position to you OP. My biggest thing is we are already so leveraged to equity market performance 930-4 M-F that I'd prefer to have some diversification from that. Beyond that thought the only two other items I'd look at are tax minimization strategies and increasing your sa...
by monsterid
Sun Feb 12, 2017 1:00 am
Forum: Forum Issues and Administration
Topic: welcome home bogleheads.org
Replies: 30
Views: 3978

Re: welcome home bogleheads.org

Out of interest who provides your upstream? They're peered with the backbones at the highest levels. The bogleheads.org server is less than two milliseconds from Level 3. Larry tier 1, nice! I had assumed you guys would be on DO, AWS. This must have a better cost benefit for boglehead purposes then.
by monsterid
Sat Feb 11, 2017 11:34 pm
Forum: Forum Issues and Administration
Topic: welcome home bogleheads.org
Replies: 30
Views: 3978

Re: welcome home bogleheads.org

Looks nice a cool.

Out of interest who provides your upstream?
by monsterid
Thu Feb 09, 2017 9:54 pm
Forum: Investing - Theory, News & General
Topic: Do Index Funds/ETF really hold a fraction of each company it tracks?
Replies: 21
Views: 2011

Re: Do Index Funds/ETF really hold a fraction of each company it tracks?

On thing that is actually kind of fun is to look way down at the bottom of the holdings list to see the small little holdings it has. For example, the iShares Total US Stocks Market ETF (ITOT) has $6.9 billion in assets. It owns $365 worth of XG Technology Inc (XGTI) and $63 worth of Delcath System...
by monsterid
Thu Feb 09, 2017 9:52 pm
Forum: Investing - Help with Personal Investments
Topic: Aspiring Boglehead Seeking Advice
Replies: 13
Views: 724

Re: Aspiring Boglehead Seeking Advice

You have absolutely wonderful options in your 401k. Why do you think otherwise? Do you expect to be in higher tax bracket in the future or expect similar income going forward? If you don't expect huge salary jump I would try and max out 401k and contribute to Roth IRA. Traditional makes sense for m...
by monsterid
Thu Feb 09, 2017 6:02 pm
Forum: Investing - Help with Personal Investments
Topic: New to Bogleheads - Need Help Investing $
Replies: 10
Views: 951

Re: New to Bogleheads - Need Help Investing $

If you are serious about quitting your job and exploring your "side hustle", I would keep a healthy stash of cash reserves to buy you some time while you transition. Set up a Traditional or Roth IRA to get the tax benefits and start saving for retirement. Invest in diversified index funds...
by monsterid
Thu Feb 09, 2017 6:00 pm
Forum: Investing - Theory, News & General
Topic: Do Index Funds/ETF really hold a fraction of each company it tracks?
Replies: 21
Views: 2011

Re: Do Index Funds/ETF really hold a fraction of each company it tracks?

I don't understand what you mean by "not enough shares outstanding"?
by monsterid
Tue Feb 07, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: US Citizen: Where to Park AUD?
Replies: 1
Views: 223

Re: US Citizen: Where to Park AUD?

I also had some AUD which recently became liquid. My view on currency is that the USD strengthens over the AUD over the medium term primarily because of a rising rate environment here and a falling rate environment in Australia. Therefore I moved those funds to USD and invested it per my AA. I liter...
by monsterid
Mon Feb 06, 2017 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws Estate Planning - Wisdom Wanted
Replies: 50
Views: 2793

Re: In-Laws Estate Planning - Wisdom Wanted

I think it's obvious why they want the ROFR.

If the OP gets divorced the family wants to be able to buy him out of the family home for the wife.
by monsterid
Mon Feb 06, 2017 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with Cash
Replies: 7
Views: 908

Re: What to do with Cash

I'd tip anything above your 6 month emergency fund into your investment accounts split into your desired AA.
by monsterid
Mon Feb 06, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Is it better to get a mortgage from a local/small lender?
Replies: 27
Views: 2680

Re: Is it better to get a mortgage from a local/small lender?

Shop around like you would do for any major purchase. Often local banks and particularly credit unions are more competitive on rates and fees than larger institutions.

Don't take your agents word for it, do the work go see at least 3 banks/credit unions.
by monsterid
Sun Feb 05, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Is whole life necessary with no debt?
Replies: 22
Views: 1871

Re: Is whole life necessary with no debt?

You mention "safe 7 % return".....I'd like to see that in writing!! Agree with compound, you should consider a shorter second term policy, 20 year should suffice. Buy term invest difference in premiums. You'll come out ahead. Whole life is only advisable in tax advantaged situations imho.
by monsterid
Thu Feb 02, 2017 2:00 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab offering .03% ER
Replies: 75
Views: 4125

Re: Schwab reduces index mutual fund ER and trade commission

From 3/1/17, the cost for the 3-fund portfolio using mutual funds at Schwab are US total stock SWTSX ER 0.03% US Aggregate Bond SWAGX ER 0.04% International index SWISX ER 0.07% SWISX doesn't give you EM right? That's just developed international. Correct. SWISX does not include EM. Then you need t...
by monsterid
Thu Feb 02, 2017 1:49 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab offering .03% ER
Replies: 75
Views: 4125

Re: Schwab reduces index mutual fund ER and trade commission

indexfundfan wrote:From 3/1/17, the cost for the 3-fund portfolio using mutual funds at Schwab are

US total stock SWTSX ER 0.03%
US Aggregate Bond SWAGX ER 0.04%
International index SWISX ER 0.07%


SWISX doesn't give you EM right? That's just developed international.
by monsterid
Thu Feb 02, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Milestone and gotta tell someone
Replies: 61
Views: 6492

Re: Milestone and gotta tell someone

Congratulations
by monsterid
Wed Feb 01, 2017 11:22 pm
Forum: Investing - Theory, News & General
Topic: Just watched Warren Buffett's new HBO Documentary
Replies: 50
Views: 7536

Re: Just watched Warren Buffett's new HBO Documentary

Many ways to watch none of which are legal without having HBO =). I also just watched it - fascinating. I don't think Boglehead theory says no-one can beat the market, clearly Buffet can, but I think it's hubris to think "the masses", "some" or even a "few" can consiste...
by monsterid
Wed Feb 01, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: One more can I afford $1.5M house
Replies: 56
Views: 4039

Re: One more can I afford $1.5M house

I suspect you are a doctor in a pretty great sub-speciality? That amount of loans and that income in a HCOL draws me to that conclusion. If so I'd rate your career as steady vs for example someone in finance. 2x gross income for a loan value to me is super reasonable. You have a big shovel, you've c...
by monsterid
Wed Feb 01, 2017 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: Contributed to Roth IRA : Now want to do Backdoor
Replies: 3
Views: 354

Re: Contributed to Roth IRA : Now want to do Backdoor

Ring your IRA provider. They will have special instructions for you. First you'll need to withdraw your contribution $11,000 plus any gains from that contribution. You can then re-contribute that to your tIRA and then do the rollover. You will be taxed on any gains over the $11,000 you've made. I kn...
by monsterid
Wed Feb 01, 2017 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: One more can I afford $1.5M house
Replies: 56
Views: 4039

Re: One more can I afford $1.5M house

Gemini wrote:
orca91 wrote:Yes, you can afford it.


Even if her income drops in half? And the baby brings new expenses?


Yes. Your shovel is massive even if her income comes down.
by monsterid
Wed Feb 01, 2017 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: How do you save?
Replies: 39
Views: 5270

Re: How do you save?

The way I've always done it is to find more ways to make money. Seems like you are thinking of this with the constraint of making $90k for the HH, but what if you made $100k? Only a c.10% increase and might be achievable with some small side-gigs. That money would all drop to the bottom line and be...
by monsterid
Wed Feb 01, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Full time physician as S-Corp PLUS physician moonlighting
Replies: 32
Views: 2803

Re: Full time physician as S-Corp PLUS physician moonlighting

So if you are an employed corporate drone, and make, say 300K on W2, what additional taxes would you pay? It seems a bit cheeky to be able to declare 150K as "salary" and an additional 150K as "dividends" if you have no additional overhead. What am I missing? Nothing beyond some...
by monsterid
Wed Feb 01, 2017 12:32 am
Forum: Personal Finance (Not Investing)
Topic: How do you save?
Replies: 39
Views: 5270

Re: How do you save?

The way I've always done it is to find more ways to make money. Seems like you are thinking of this with the constraint of making $90k for the HH, but what if you made $100k? Only a c.10% increase and might be achievable with some small side-gigs. That money would all drop to the bottom line and be ...
by monsterid
Tue Jan 31, 2017 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp savings with W2 income
Replies: 4
Views: 338

Re: S Corp savings with W2 income

Yes this is what I thought. So in my instance given the $120k in "conventional" W2 income, I'm better off not using the S corp, as I'd have the extra costs but not the self employment tax advantage? You'd save some medicare tax as an S-Corp but not as much as you'd lose to the employer po...
by monsterid
Tue Jan 31, 2017 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp savings with W2 income
Replies: 4
Views: 338

Re: S Corp savings with W2 income

Your W-2 wages are close to the 2017 earnings limit of 127,200. If your self employed income filed using Schedules C/SE, then Schedule SE will see your W-2 social security wages and take them into consideration when determining your self employment tax. If you were S-Corp and paid your self a W-2 w...
by monsterid
Tue Jan 31, 2017 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp savings with W2 income
Replies: 4
Views: 338

S Corp savings with W2 income

I'm coming up against a tricky employment / tax situation in the coming year 2017 tax year: - W2 income: $120,000 - self employment income: $150,000 I currently have the self employment income running through a disregarded LLC. The nature of the vast majority of the LLC's income is consulting work, ...
by monsterid
Tue Jan 31, 2017 2:17 pm
Forum: Investing - Theory, News & General
Topic: Betterment just raised their costs.
Replies: 191
Views: 20023

Re: Betterment just raised their costs.

Some of us prefer to spend our time doing other things besides monitoring portfolios quarterly and doing rebalancing. I'm willing to pay a small additional fee for that service. The key part being "small". Now I'm off to consider Schwab. Lucky I opened Schwab as I recently setup a solo 40...
by monsterid
Tue Jan 31, 2017 11:55 am
Forum: Investing - Theory, News & General
Topic: Betterment just raised their costs.
Replies: 191
Views: 20023

Re: Betterment just raised their costs.

I'm also super disappointed with this. Massive bait and switch. At 15 bps I felt comfortable with the TLH and rebalancing benefits. Now I'm concerned about them raising prices again in the future. What's to stop them? They didn't even grandfather in older customers. I've been trying to get someone f...