Search found 28 matches

by lgerla
Thu Jan 17, 2019 7:26 am
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 59468

Re: John Bogle has died at age 89

Jack Bogle took the complex and made it simple; took the expensive and made it affordable; took the whole market and made it accessible to all. His work and the tribe of like minded people here have influenced me forever to the good. A true American hero. Rest in peace, Mr. Bogle.
by lgerla
Thu Jan 10, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for retiring parents: converting 401k to Roth IRA
Replies: 19
Views: 2006

Re: Advice for retiring parents: converting 401k to Roth IRA

Retiredjg, thanks for the correction on distributing directly from a 401k to a Roth IRA, and apologies to the OP. :oops:
I believe you still want to check with the specifics of the plan, and would want to replace the mandatory tax withholding to get the full amount into the Roth.
by lgerla
Thu Jan 10, 2019 3:09 am
Forum: Personal Finance (Not Investing)
Topic: Advice for retiring parents: converting 401k to Roth IRA
Replies: 19
Views: 2006

Re: Advice for retiring parents: converting 401k to Roth IRA

Watty's advise is correct. The only way to get money from a 401k to a Roth IRA, is to first do a rollover to the IRA. You can't roll over pre-tax 401k contributions directly to a Roth; they have to be converted from a rollover IRA. Conversions have no annual limit other than what you can/want to pay...
by lgerla
Wed Jan 02, 2019 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Wiki page UPGRADE: Backdoor Roth
Replies: 77
Views: 6595

Re: Wiki page UPGRADE: Backdoor Roth

I appreciate the detailed scenarios spelled out in the updated Wiki. I didn't even know some of these would exist! I have a suggestion to spell out the cleanest method of backdoor Roth first, in the overview, and then go in to the details. Below is a suggested edit of the Overview section. Overview ...
by lgerla
Sat Nov 24, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Military help re:income from the government
Replies: 4
Views: 587

Re: Military help re:income from the government

I'm sorry for your losses.

If the check was issued from the Defense Finance and Accounting Service (DFAS), your father will get a 1099 -R. It most likely had federal taxes withheld from it.

You can find contact info for them at www.dfas.mil
by lgerla
Sun Nov 04, 2018 1:27 pm
Forum: Personal Investments
Topic: How to handle individual 401k administration
Replies: 14
Views: 1220

Re: How to handle individual 401k administration

The TPA administration of a solo 401k probably also includes plan document compliance. You still need that. I pay Ascensus Employer Direct $205 per year. They've sent three different compliance updates to the plan since I started the 401(k) in 2016. The annual fee includes one plan change per year r...
by lgerla
Mon Oct 15, 2018 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Attn ...Retirees on Tricare
Replies: 4
Views: 843

Re: Attn ...Retirees on Tricare

Changing Tricare plans doesn't apply to Tricare for Life members (retirees), but during the new open season, military retirees can enroll in a dental and/or vision program, and make changes every year going forward.
by lgerla
Sat Sep 15, 2018 12:37 am
Forum: Personal Investments
Topic: Have We Missed the Boat on Roth Conversions?
Replies: 48
Views: 6084

Re: Have We Missed the Boat on Roth Conversions?

Another option could see you saving on taxes if you wait to retire until age 55. The IRS 401k withdrawal rules contain an exception to the 10% early withdrawal penalty before age 59-1/2 if you leave employment for any reason after age 55. The only money that would qualify is money in the 401(k) plan...
by lgerla
Mon Aug 20, 2018 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Home down payment question- HELOC or save money
Replies: 10
Views: 1107

Re: Home down payment question- HELOC or save money

Besides the HELOC only providing 80% LTV, many banks will charge you the closing fees if you have the HELOC for less than 2 years. So, the time to apply for it would be now. You don't have to use it, but if in 2 years you wanted to use it to help with financing your new house, you would be able to w...
by lgerla
Fri Jun 08, 2018 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Florida but you are hundreds of miles away
Replies: 33
Views: 3392

Re: Buying a house in Florida but you are hundreds of miles away

Having recently made several visits to Florida (also moving from Virginia), I agree that it's imperative you look at houses you are interested in in person. Most of the houses we thought looked great online were definite "No's" as soon as we drove up or walked in the door, for various reasons. On th...
by lgerla
Mon Apr 30, 2018 7:07 pm
Forum: Personal Consumer Issues
Topic: Must See in South Dakota
Replies: 59
Views: 6617

Re: Must See in South Dakota

I would take a detour to DeSmet and listen to Little House on the Prairie audiobooks the whole way!

(Books, not the TV show.) :oops:

http://www.desmetsd.com/desmet/visitors ... lls-wilder

:D
by lgerla
Fri Apr 13, 2018 8:22 am
Forum: Personal Investments
Topic: Questions on Navigating Fidelity Interface for IRA/Roth AA
Replies: 6
Views: 388

Re: Questions on Navigating Fidelity Interface for IRA/Roth AA

Click on the Rollover IRA account and look at the tabs. They should say Summary, Positions, Balances, etc. The last tab is Account Features and there you will find the automatic transfer and funding options. There are other things you need to do there, like name your beneficiary. I think you can onl...
by lgerla
Thu Mar 01, 2018 10:39 pm
Forum: Personal Consumer Issues
Topic: PC Guy. Inherited a Mid-2012 MacBook Pro ($500 value). Talk me into/out of keeping it.
Replies: 37
Views: 3415

Re: PC Guy. Inherited a Mid-2012 MacBook Pro ($500 value). Talk me into/out of keeping it.

I just bought my first Mac, the same one refurbished for $500, to run Mac-only software for my side business. Spent $80 to upgrade the RAM. It is taking some getting used to and I will still do 95% of work on my 8 year-old Dell laptop. So far, I like it much better than the new Dell laptop I bought ...
by lgerla
Fri Feb 16, 2018 9:39 am
Forum: Personal Investments
Topic: Portfolio Re-balance... What's Next?
Replies: 23
Views: 3336

Re: Portfolio Re-balance... What's Next?

Pre-nups are hard to imagine doing when you're young. It's not something you would spring on somebody, and it doesn't have to be elaborate. One of the tenets of How to Get Rich (as espoused by White Coat Investor) is to marry well and stay married. https://www.bogleheads.org/forum/viewtopic.php?f=10...
by lgerla
Thu Feb 08, 2018 7:48 am
Forum: Personal Consumer Issues
Topic: Amazon Alternative
Replies: 86
Views: 9950

Re: Amazon Alternative

I understand that sending an email to Jeff Bezos will be responded to by someone who can give more than the standard customer service answers. Keep it short, mention your bona fides, tell them what you are willing to do and how they can make it right.

jeff@amazon.com
by lgerla
Sun Oct 29, 2017 7:22 pm
Forum: Personal Consumer Issues
Topic: Need Occasional Outgoing Fax From Email
Replies: 5
Views: 687

Re: Need Occasional Outgoing Fax From Email

I have used faxzero.com. It is free for 3 pages plus a cover and only $1.99 for up to 25 pages.
by lgerla
Thu Oct 19, 2017 5:16 pm
Forum: Personal Investments
Topic: Fine tuning retirement savings plans: 401k, IRAs and beyond?
Replies: 19
Views: 1675

Re: Fine tuning retirement savings plans: 401k, IRAs and beyond?

I implemented a solo 401(k) plan using a TPA -- just for plan issuance and compliance -- for a non-prototype plan in 2016. It cost $195 to set up and ongoing compliance and maintenance of the plan documents is $195 per year. I have set up the accounts at Fidelity. The name of the TPA is Ascensus . Y...
by lgerla
Tue Sep 05, 2017 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: How do you track expenses ?
Replies: 58
Views: 5695

Re: How do you track expenses ?

I am really happy with Moneydance. I had to upload my initial bank transactions since my credit union is not supported. But I saved regular transactions so those are monthly "reminders" now and can be added quickly. I run most items through my credit cards and it imports my CC transactions and inves...
by lgerla
Wed Jul 12, 2017 12:17 pm
Forum: Personal Investments
Topic: better parking place than FTEXX?
Replies: 29
Views: 2736

Re: better parking place than FTEXX?

From what I understand with my Fidelity accounts, you will always have SPAXX as the sweep account for interest and dividends earned. That does not mean you have to keep large sums of money in it that could otherwise be put toward your AA. I would allocate these funds and the ones in the other money ...
by lgerla
Thu Jul 06, 2017 1:37 am
Forum: Personal Finance (Not Investing)
Topic: Amazon FBA Seller
Replies: 9
Views: 2083

Re: Amazon FBA Seller

I have an somewhat related question...I have neighbors who say they "work" for amazon. They get packages delivered to their house (usually large quantity items) which they repack into smaller packages and then resend through UPS. They are not selling any products of their own (not making their own ...
by lgerla
Thu Jul 06, 2017 1:18 am
Forum: Personal Finance (Not Investing)
Topic: Amazon FBA Seller
Replies: 9
Views: 2083

Re: Amazon FBA Seller

I had an Amazon business for two years, made a 25% profit over costs each year and funded my solo 401(k) to back door Roth. I also work full time and have another side business, which I chose to focus on as it has better long-term potential for my situation. I liked the Amazon selling a lot. The mos...
by lgerla
Sun Jun 11, 2017 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 313
Views: 47962

Re: KF's Worst Case Retirement Plan [KlangFool's]

As per my understanding, if I move away from the state of Virginia, my kids would have to pay out-of-state tuition. That would double their tuition cost. That cost increase would be at least 30K per year. KF, I looked into this for my own situation in Virginia as I have the same concern. I believe ...
by lgerla
Sun Jun 11, 2017 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: medicare premium amount
Replies: 51
Views: 6433

Re: medicare premium amount

You can apply to have the IMRR recalculated/reduced when or if you or your spouse stop working or your income is reduced to the next lowest income tier. Otherwise, you will have to wait for SSA to adjust it downward based on your future lower-MAGI tax return. You will need to verify your new income ...
by lgerla
Thu Apr 20, 2017 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Calling for all the Moms: career and family.
Replies: 42
Views: 6861

Re: Calling for all the Moms: career and family.

Like most working mothers, your situation will change periodically depending on family life and work opportunities. It sounds like you are thinking of/preparing for the next stage. That's natural. Your kids and all of their activities will take up as much time as you have available to give them. Esp...
by lgerla
Tue Apr 18, 2017 3:18 pm
Forum: Personal Investments
Topic: Fidelity Non-Prototype Account For My Solo401k Trust - No Automatic Investments,
Replies: 4
Views: 1173

Re: Fidelity Non-Prototype Account For My Solo401k Trust - No Automatic Investments,

I also have a non-Prototype account for my solo 401k with Fidelity (administered by me). You can direct how your contributions are deposited each month using a form, but it is not an online transaction. On the Fidelity site, do a search for the form "Fidelity Investment-Only Retirement Account Contr...
by lgerla
Wed Apr 05, 2017 1:08 am
Forum: Personal Finance (Not Investing)
Topic: Tax Management in preparation for retirement
Replies: 29
Views: 2776

Re: Tax Management in preparation for retirement

I've been working on this lately. I had always done my own taxes, but after re-marriage (2nd time for both of us), dh prefers to use his long-trusted CPA. We both work and I've started two businesses recently so it makes sense. This year, after creating a solo-401(k) and doing both backdoor and mega...
by lgerla
Thu Mar 23, 2017 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401K Limits with Sole Prop and an LLC with a loss
Replies: 7
Views: 1482

Re: Solo 401K Limits with Sole Prop and an LLC with a loss

I also have a Solo 401(k) with plan documents from Ascensus, allowing after-tax contributions and in-service distributions. I am also employed where I max out my deferrals and FICA, and also have two businesses, one as a sole prop and one as an LLC. The sole prop is treated as a joint qualified vent...
by lgerla
Mon Mar 20, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Advice: Overextending by buying? How much house to buy?
Replies: 57
Views: 6980

Re: Advice: Overextending by buying? How much house to buy?

I would give a lot of thought to the geographic and educational freedom of charter or private schools. Yes, you will have tuition, but it may be less than the cost of the additional housing price in a "good" school district. You will be able to tailor your school choice to your child's interests/abi...