Search found 17 matches

by mad9q
Tue Aug 13, 2019 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: help understanding pension
Replies: 19
Views: 1223

Re: help understanding pension

Thank you all. This discussion has been very informative and helpful.
by mad9q
Tue Aug 13, 2019 11:03 am
Forum: Personal Finance (Not Investing)
Topic: help understanding pension
Replies: 19
Views: 1223

Re: help understanding pension

Yes, he pays into social security and will have 30 years of credits. Will it say in the plan document how the pension affects social security?

Thanks again.
by mad9q
Tue Aug 13, 2019 9:37 am
Forum: Personal Finance (Not Investing)
Topic: help understanding pension
Replies: 19
Views: 1223

Re: help understanding pension

Thanks for the replies. I will ask for that document.
by mad9q
Tue Aug 13, 2019 8:58 am
Forum: Personal Finance (Not Investing)
Topic: help understanding pension
Replies: 19
Views: 1223

help understanding pension

Hi there. My husband recently started a job with a local government that requires he participates in their pension program. We do not expect him to retire from this place of employment. Our plan right now is to take a lump-sum when he leaves and I am trying to figure out what that figure may be. I a...
by mad9q
Mon Jun 03, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should All Grandkids Be Treated as Equal Members of Same Class?
Replies: 104
Views: 8412

Re: Should All Grandkids Be Treated as Equal Members of Same Class?

My sister who is a single-parent of one made a big issue of the fact that my kids (five total) would each get the same amount as her only child. In her mind, this demonstrates favoritism towards me. We are a long ways from having grandchildren, so I am not sure how we will handle it. I suspect money...
by mad9q
Fri Apr 05, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Married couples: can you have a team mentality with separate finances?
Replies: 183
Views: 9034

Re: Married couples: can you have a team mentality with separate finances?

My thoughts come from the perspective of a SAH parent who sacrificed career ambition to care for children and homeschool. I could see keeping separate funds if this is a second marriage where one or both spouses have lingering financial responsibilities, but assuming this is a first marriage for bot...
by mad9q
Thu Apr 04, 2019 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: governmental 457b to 401K Roth
Replies: 12
Views: 867

Re: governmental 457b to 401K Roth

Thank you for posting the IRA Rollover Chart retire2022. I have another question. My DH is not eligible for a regular Roth IRA (income is above threshold) but he can contribute to the Roth 401K at work. Is the employer-sponsored 401K Roth our only option for getting this money in a Roth? Or can he d...
by mad9q
Thu Apr 04, 2019 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: governmental 457b to 401K Roth
Replies: 12
Views: 867

Re: governmental 457b to 401K Roth

Thank you all for the replies. I am aware that we can withdraw the money before 59.5 without penalty. Yes, the fees are relatively high (1%) and I also want to get more money into a Roth, since the vast majority of our nest egg is ($1.1M) is an IRA. The amount in question is about $140,000 and we ar...
by mad9q
Sun Mar 31, 2019 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: governmental 457b to 401K Roth
Replies: 12
Views: 867

governmental 457b to 401K Roth

Hi All. Has anyone here rolled a governmental 457 to a 401K Roth? My DH has a government 457 from a previous employer and now works for a new employer that offers a 401K Roth. We are wanting to roll the 457 to the new 401K Roth. From what I have seen online it looks like we should be able to do this...
by mad9q
Sun Mar 31, 2019 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: deferred compensation and college savings
Replies: 9
Views: 604

Re: deferred compensation and college savings

I would consider contributing DH increased salary from new position towards Roth IRA or 529 plans and build over time. This may create a more sustainable plan for all your children, without forgoing your retirement savings. For most financial aid calculations (e.g. FAFSA) your 401K and IRA accounts...
by mad9q
Sun Mar 31, 2019 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: deferred compensation and college savings
Replies: 9
Views: 604

Re: deferred compensation and college savings

Thanks everyone for the thoughtful replies. To answer a few questions, - the DC is in a target fund. The returns parallel those of the overall market. - my DH is planning to work past age 60. Our youngest child is only five, so we have a ways to go in terms of supporting a child, including providing...
by mad9q
Sun Mar 31, 2019 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: deferred compensation and college savings
Replies: 9
Views: 604

Re: deferred compensation and college savings

Hi All. I am looking for opinions on funding a 529 for our two oldest children (we have five in total). My DH recently left his job and can now access his deferred compensation account ($140K balance). We are thinking of pulling out this cash, paying the taxes and putting the money into two 529 acc...
by mad9q
Sun Mar 31, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: deferred compensation and college savings
Replies: 9
Views: 604

deferred compensation and college savings

Hi All. I am looking for opinions on funding a 529 for our two oldest children (we have five in total). My DH recently left his job and can now access his deferred compensation account ($140K balance). We are thinking of pulling out this cash, paying the taxes and putting the money into two 529 acco...
by mad9q
Sun Apr 08, 2018 9:17 am
Forum: Personal Finance (Not Investing)
Topic: What would an extra $2000 in cash flow mean for a large family?
Replies: 58
Views: 5211

Re: What would an extra $2000 in cash flow mean for a large family?

Part of my reason for my question everyone is I just have no experience in budgeting for three (or more) growing children. Is my monthly budget going to skyrocket as the kids get older? Such that having the extra $2000 is really, really going to matter in the future? I might be able to help. I have...
by mad9q
Thu Mar 22, 2018 9:25 am
Forum: Personal Finance (Not Investing)
Topic: questions re: govt deferred compensation (457)
Replies: 13
Views: 1417

questions re: govt deferred compensation (457)

Hello. My DH has a deferred compensation account with his current (local government) employer. My understanding is that if he leaves this job he can access this money without penalty but will pay taxes. I have a couple of questions: 1. are DC withdrawals treated as payroll income? Meaning are there ...
by mad9q
Thu Jan 04, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: House purchase considerations
Replies: 33
Views: 3416

Re: House purchase considerations

Have you estimated your new tax liability? We have the same HHI with a single earner and our taxable income will be going up by like $35K, thanks to losing the exemptions and limitation on SALT deductions. The change in brackets and rates is not enough to offset those losses -- for a couple of years...