Search found 40 matches

by monsterid
Mon Jan 16, 2017 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: Should I contribute to tiny (part-time job) 401(k)?
Replies: 3
Views: 279

Re: Should I contribute to tiny (part-time job) 401(k)?

Could you not (as quickly as possible) max the $18k in the 401k plus do $5,500 into the Roth IRA either directly or backdoor as income limits dictate? That would maximize your total funds into tax advantaged accounts. If your part-time gig stops you can then roll the 401k into your tIRA and you've m...
by monsterid
Sat Jan 14, 2017 5:20 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k for self-employed spouse?
Replies: 12
Views: 467

Re: Solo 401k for self-employed spouse?

I thought the 20-25% varied based on if its LLC or S-corp?
by monsterid
Fri Jan 13, 2017 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k for self-employed spouse?
Replies: 12
Views: 467

Re: Solo 401k for self-employed spouse?

Yeah I only set it up last month. Game changer. I got myself custom documents made up by mysolo401k because I wanted the flex to mega-backdoor IRA in future, plus do 401k loans or potentially even invest in property via it later. But you can just use Vanguard, Fido or Schwab to do this as well. They...
by monsterid
Fri Jan 13, 2017 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k for self-employed spouse?
Replies: 12
Views: 467

Re: Solo 401k for self-employed spouse?

Since I don't know what my tax bracket will be, it would seem a Roth Solo 401k would be the best option (I did not know there is such a thing). I would have to be some taxes now but then the investments would grow tax-free. Just to be clear, she would be allowed to contribute to the Roth Solo 401k ...
by monsterid
Fri Jan 13, 2017 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Stay in paid-off starter house vs. dream house+work a few more years
Replies: 51
Views: 3039

Re: Stay in paid-off starter house vs. dream house+work a few more years

I'd buy it. Would only take you 2 years to pay for it. Probably 1 if you put crazy intensity on it...

Seems like a no brainer to be in your "dream house".

You guys are killing it. Don't overthink it.
by monsterid
Fri Jan 13, 2017 2:08 pm
Forum: Personal Consumer Issues
Topic: 24 hour stop over at LHR, what all can I visit in London?
Replies: 31
Views: 1695

Re: 24 hour stop over at LHR, what all can I visit in London?

If it's a weekend, go watch some football =)
by monsterid
Fri Jan 13, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking about leaving Ameriprise
Replies: 40
Views: 1413

Re: Thinking about leaving Ameriprise

Least you learnt early. You'll hopefully never be misinformed again! It's a blessing.
by monsterid
Fri Jan 13, 2017 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k for self-employed spouse?
Replies: 12
Views: 467

Re: Solo 401k for self-employed spouse?

You will; - take some gains in taxable - be able to contribute that cash to a tax advantaged account - if you do a t401k then you can deduct the contributions from your tax return thereby offsetting some or all of the taxable gains (likely all) - all future gains now either tax deferred or never tax...
by monsterid
Fri Jan 13, 2017 2:03 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring this May, please advise
Replies: 24
Views: 2830

Re: Retiring this May, please advise

Think about doing some part-time or casual work for $10k p.a. Will make a huge difference and give yourself the buffer on the 4% SWR to make you feel more comfortable. If things go well over the next few years you can pack it all in completely.

Congrats on your retirement!
by monsterid
Thu Jan 12, 2017 12:05 am
Forum: Investing - Help with Personal Investments
Topic: thoughts about financial advisors comments regarding roth 401k
Replies: 30
Views: 3162

Re: thoughts about financial advisors comments regarding roth 401k

I do a traditional 401k and Roth IRA to diversify. Any year I have a low taxable income (e.g. career break or something) I'd use the t->roth ladder strategy and push stuff across.
by monsterid
Tue Jan 10, 2017 11:46 am
Forum: Investing - Theory, News & General
Topic: ETF MKT% vs NAV% - what would make them diverge?
Replies: 4
Views: 255

Re: ETF MKT% vs NAV% - what would make them diverge?

Not sure. Could be some market making activity or something that's involved. Could be a desk somewhere hedging a exotic derivative with enough spread that they were OK buying at a prem to NAV.
by monsterid
Mon Jan 09, 2017 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: How're we doing?
Replies: 33
Views: 3218

Re: How're we doing?

I'd honestly move into a different house/apartment and rent for another year or two until you can clear the loan. Sure pay a bit more in rent so the first year or so is more manageable with the baby, but it will honestly put you in a much better position to buy the home. The last thing you want to d...
by monsterid
Mon Jan 09, 2017 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 6980

Re: Doctors and retirement

gasdoc wrote:
travellight wrote:sambb, thanks for this very gracious sentiment:

"You gave up the best years of your life, from age 18-35 in libraries, studying, and working >80 hours a week in residencies so you could save my life."


+1. How refreshing!

gasdoc


+1. Amazing sentiment.
by monsterid
Mon Jan 09, 2017 12:56 am
Forum: Investing - Help with Personal Investments
Topic: Goal achieved - what next? healthcare?
Replies: 8
Views: 1456

Re: Goal achieved - what next? healthcare?

Congrats. Awesome progress.
by monsterid
Sun Jan 08, 2017 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice. Tradition 401(k) vs Roth 401(k)
Replies: 19
Views: 870

Re: Need Advice. Tradition 401(k) vs Roth 401(k)

I'm in a not too dissimilar position than you. I'm planning on maxing the t401k contribution + backdoor Roth IRA. Diversify myself and then use my early retirement years (or other years of low or no income across the next 20-25 years) to convert t->roth per above posts. From everything I've read tha...
by monsterid
Sat Jan 07, 2017 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Considering the services of a CFP
Replies: 36
Views: 2162

Re: Considering the services of a CFP

Sounds like they'll be teaching you along the way, giving you a second pair of eyes on things.

If it helps you sleep more soundly at night and improves your confidence in your strategy then go for it, can't put a price on that.
by monsterid
Fri Jan 06, 2017 5:43 pm
Forum: Investing - Help with Personal Investments
Topic: Lower expense ratio vs increased diversification for international stock index fund?
Replies: 18
Views: 863

Re: Lower expense ratio vs increase diversification for international stock index fund?

Just to clarify for those who may not know, security lending is the ETF letting other institutional investors "borrow" their stock in order for those institutions (typically hedge funds) to short sell the stock.

For this borrowing those institutions pay the fund an interest rate.
by monsterid
Fri Jan 06, 2017 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: How're we doing?
Replies: 33
Views: 3218

Re: How're we doing?

Just a quick first look... I would pay off the student loans first, starting with the 5.3% one. Paying down this loan is like earning a guaranteed 5.3%. You should get your debt under control prior to adding more debt, home mortgage. I agree: - close brokerage contribute to emergency fund - take ex...
by monsterid
Fri Jan 06, 2017 4:29 pm
Forum: Investing - Theory, News & General
Topic: I am timing the market. Why am I wrong?
Replies: 89
Views: 5678

Re: I am timing the market. Why am I wrong?

Change the setting and see if you agree with this: - Assume instead of the stock market you are sitting at a Blackjack table - Assume instead of 49.5/50.5 odds at that table in favor of the house the overall advantage to a player is 52/48 implying that if you just kept playing over the long term the...
by monsterid
Fri Jan 06, 2017 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k Contribution Questions
Replies: 15
Views: 739

Re: Individual 401k Contribution Questions

I don't have any W2 401k so there is no complication on that front. If you have W-2 job, do you participate in any retirement plan offered by the employer? Contributions to 401k, 403b, SIMPLE-IRA will impact the amount of employee salary deferral contributions you can make to your Solo 401k. There ...
by monsterid
Fri Jan 06, 2017 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k Contribution Questions
Replies: 15
Views: 739

Re: Individual 401k Contribution Questions

The financebuff spreadsheet tells you the yearly totals but does not address the timing issues. An individual 401k is not like an IRA. You are not eligible to make employee deferrals for net-self-employment income you have not received, unless you have provided services this year that will generate...
by monsterid
Fri Jan 06, 2017 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k Contribution Questions
Replies: 15
Views: 739

Re: Individual 401k Contribution Questions

If you are over 50 there is also a 6k catchup contribution opportunity. The 2016 overall contribution limit was 53k if under 50, or 53k+6k catchup The 2017 overall limit is increased by $1k. Two things: The rules are more complicated if you have more than one 401(k), e.g. 1099 income + W2 income Co...
by monsterid
Thu Jan 05, 2017 11:47 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 1878

Re: Moving Away from Robotraders - Good idea?

You may be my twin, I've been thinking the same thing about not having saved more in my 20's after reading these forums for the last several weeks. But in the end I'm hoping we still have enough ^n's to be ok.

Just got to get super aggressive in the next five years right?
by monsterid
Thu Jan 05, 2017 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 1878

Re: Moving Away from Robotraders - Good idea?

I'm in virtually the same financial and life circumstances as you from what I can tell. Early 30's, high risk/return reasonable financial position. I have: - Betterment - tIRA (zero balance) -> Roth IRA + Taxable (with weekly additions) - Schwab - 401k - Robinhood - Taxable (single stocks to play wi...
by monsterid
Thu Jan 05, 2017 7:02 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k Contribution Questions
Replies: 15
Views: 739

Re: Individual 401k Contribution Questions

veggivet wrote:The total is deductible, but only the portion of the employee's contribution made to the Roth account can be later withdrawn tax-free.


Wow ok the Individual 401k is even more powerful than I thought. I could theoretically do $53k all deductible?

This is game changing!
by monsterid
Thu Jan 05, 2017 2:55 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k Contribution Questions
Replies: 15
Views: 739

Re: Individual 401k Contribution Questions

Thanks super helpful.

But only the first $18k is deductible? Or if I choose to send both to t401k I can deduct it all?
by monsterid
Thu Jan 05, 2017 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: 500K milestone celebration
Replies: 73
Views: 6534

Re: 500K milestone celebration

wilked wrote:
CoAndy wrote:
Streptococcus wrote:
weedf16 wrote:Job well done! Just curious, what was your starting number in 2013?

:sharebeer

Around 50K, our efund.
Wow! From 50k to 500k in about 3.5 years? Awesome! :beer

$12K/month (ignoring growth!)

Some serious savings, nice work


Seriously impressive.
by monsterid
Thu Jan 05, 2017 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: 500K milestone celebration
Replies: 73
Views: 6534

Re: 500K milestone celebration

Congrats.
by monsterid
Thu Jan 05, 2017 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401k Contribution Questions
Replies: 15
Views: 739

Individual 401k Contribution Questions

Hi All, My first time asking advice (been lurking for awhile and recently setup an account and started posting!). I setup an individual 401k late last year, this will be my first contribution using self employment income via an LLC. I file it under schedule C. My understanding is I can make two type...
by monsterid
Thu Jan 05, 2017 1:30 pm
Forum: Investing - Theory, News & General
Topic: Bitcoin Purchase
Replies: 38
Views: 3558

Re: Bitcoin Purchase

Oof. Coindesk shows Bitcoin down 15% right now to $965. What is the P/E of Bitcoin anyway? P/E lol.. Bitcoin is up because of tighter Chinese capital controls being put in place recently. Chinese nationals trying to get into foreign currency are buying bitcoin with Yuan and then moving it on to har...
by monsterid
Mon Jan 02, 2017 9:50 pm
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 243
Views: 25858

Re: Whats your number to walk away?

Age: 30
#: $8M

Rational, based on 5% real rate of return spitting off $400k p.a. in free cash. Post tax c.$240k.Realizing that the number also needs to fun kids colleges, etc.
by monsterid
Mon Jan 02, 2017 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Allowable expenses for Sched C jobs, when expenses "overlap" with W2 job requirements?
Replies: 15
Views: 654

Re: Allowable expenses for Sched C jobs, when expenses "overlap" with W2 job requirements?

Regarding similar questions in my own case my accountant suggested that "reasonable expenses" for a business are very difficult for the IRS to determine, because there are simply so many businesses. I think whatever calculation you apply, write it down in your records, or make a statement...
by monsterid
Mon Jan 02, 2017 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Allowable expenses for Sched C jobs, when expenses "overlap" with W2 job requirements?
Replies: 15
Views: 654

Re: Allowable expenses for Sched C jobs, when expenses "overlap" with W2 job requirements?

Honestly given the quantum we are talking about (both in an absolute and relative sense) I'd deduct them. Seems to me they are legitimate expenses that are clearly not manufactured. If you were ever audited and this is the worst thing they were looking at I honestly don't think there would be any en...
by monsterid
Sun Jan 01, 2017 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: A solo 401k is my new year's resolution (tax advice needed)
Replies: 13
Views: 578

Re: A solo 401k is my new year's resolution (tax advice needed)

Yes but remember your contributions are capped by the self-employment income. e.g. you can't only have $500 of self employment income and $200k for W2 income and then contribute $53k into the solo 401k. True, but his primary purpose of opening the solo 401k is to "hide" a rollover IRA so ...
by monsterid
Sun Jan 01, 2017 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buy or keep renting in Manhattan?
Replies: 23
Views: 2598

Re: Buy or keep renting in Manhattan?

I don't think it really matters. You could buy in cash or if you decided to leverage - the rates stop getting better at a 60% LVR at most banks. You can easily afford the 40% without massively destabilizing your position. Given the size of the shovel you have you should be out of debt in a year or t...
by monsterid
Sun Jan 01, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: A solo 401k is my new year's resolution (tax advice needed)
Replies: 13
Views: 578

Re: A solo 401k is my new year's resolution (tax advice needed)

Yes but remember your contributions are capped by the self-employment income.

e.g. you can't only have $500 of self employment income and $200k for W2 income and then contribute $53k into the solo 401k.

Least that is my current understanding...
by monsterid
Sun Jan 01, 2017 6:50 pm
Forum: Investing - Help with Personal Investments
Topic: NY muni bond fund
Replies: 16
Views: 873

Re: NY muni bond fund

Thanks
by monsterid
Sun Jan 01, 2017 5:16 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401K a no-brainer over company 401k?
Replies: 21
Views: 2718

Re: Solo 401K a no-brainer over company 401k?

One thing to remember is that your employers 401K does not limit the amount you can profit share in a separate Solo 401K. For example: you can defer 18K (Possibly more if they do after-tax) in your employers 401K and then you could potentially do 53K profit sharing into a Solo 401K assuming high en...
by monsterid
Sun Jan 01, 2017 2:27 pm
Forum: Investing - Help with Personal Investments
Topic: NY muni bond fund
Replies: 16
Views: 873

Re: NY muni bond fund

I'm super interested in this as well for my taxable account. I'm typically 100% stocks (single, 30 yr old) but this could be a nice way to reduce risk without a significant loss of return. From what I can tell current NY muni funds are around 3.3-3.5% yield? Is anyone seeing anything more attractive...

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