Search found 19 matches

by recklessmax
Tue Jul 14, 2020 6:58 am
Forum: Personal Finance (Not Investing)
Topic: Capital One Miles redemption question
Replies: 3
Views: 283

Capital One Miles redemption question

Anyone here have a capital one miles earning rewards credit card ? If yes does capital one offer Nordstrom gift card as an option for redemption and if yes at what rate 1 cent per miles or 0.8 cent per mile ? I currently dont have one so cant check their rewards website redemption option but want to...
by recklessmax
Tue Jul 14, 2020 6:55 am
Forum: Personal Investments
Topic: Backdoor ROTH IRA
Replies: 15
Views: 905

Re: Backdoor ROTH IRA

So based on the comments you cannot have any other IRA except ROTH IRA in the calendar year you execute the backdoor roth strategy so you dont get hit by the IRS prorata rule. Bit post that calendar year if you decide you can have a rollover IRA and roth IRA independently without triggering any IRS...
by recklessmax
Tue Jul 14, 2020 5:53 am
Forum: Personal Investments
Topic: Backdoor ROTH IRA
Replies: 15
Views: 905

Re: Backdoor ROTH IRA

So based on the comments you cannot have any other IRA except ROTH IRA in the calendar year you execute the backdoor roth strategy so you dont get hit by the IRS prorata rule. Bit post that calendar year if you decide you can have a rollover IRA and roth IRA independently without triggering any IRS ...
by recklessmax
Mon Jul 13, 2020 7:43 pm
Forum: Personal Investments
Topic: Backdoor ROTH IRA
Replies: 15
Views: 905

Re: Backdoor ROTH IRA

Thanks also lets say i move all the pretax IRA funds into my 401K at work and do the roth conversion for the post tax funds by end of this year along with paying tax on any little interest . Now what i decide to leave my current 401K employer . Although i can leave the funds in the 401K with them or...
by recklessmax
Mon Jul 13, 2020 5:40 pm
Forum: Personal Investments
Topic: Backdoor ROTH IRA
Replies: 15
Views: 905

Re: Backdoor ROTH IRA

Thanks for info provided earlier by everyone . this process got pushed out as the tax deadline was extended and im doing this now Im contributing non deductible 6K to the traditional IRA to do a backdoor roth before end of year by moving all my deductible IRA to the 401K However what happens to the ...
by recklessmax
Mon Jul 13, 2020 5:34 pm
Forum: Personal Investments
Topic: Backdoor ROTH IRA
Replies: 15
Views: 905

Re: Backdoor ROTH IRA

^^ What KingRiggs said. You can take the following steps: - Make a non-deductible contribution to a Traditional IRA, keep it in a money-market fund until the step below is completed - Contact your 401k plan and Traditional IRA custodian, and initiate a rollover of the Traditional IRA to 401k - Once...
by recklessmax
Thu Jul 09, 2020 7:16 am
Forum: Personal Investments
Topic: Any good Traditional IRA Promos
Replies: 3
Views: 295

Any good Traditional IRA Promos

Hello ALL Anyone aware of good promotions (cash bonus or rates) for opening Tradition IRA Promos wiht the max of 6K investment for 2019 . Need to invest by next week deadine of 15th July. Did some quick search online and wasnt able to find anything much at all, only some big companies with high inve...
by recklessmax
Mon Apr 13, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 752

Re: Stimulus check for Dependent and 2018 tax return

Bump.. If anybody has an answer for my situation
by recklessmax
Mon Apr 13, 2020 12:40 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus check for Dependent and 2018 tax return
Replies: 13
Views: 752

Stimulus check for Dependent and 2018 tax return

I have claimed my dad as a dependent for HOH status in the past years as his income is negligible. Because of claiming him as a dependent i get HOH status which results in a bump to my standard deduction. For 2018 tax year i had taken an automatic 6 month extension to file but paid extra taxes due w...
by recklessmax
Mon Apr 06, 2020 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: PPP with Wells Fargo
Replies: 55
Views: 4869

Re: PPP with Wells Fargo

How is this going to cover freelancers/sole proprietors as they were asked to hold on till the 10th of April to apply. Is the wells fargo windows closed only for small business or also for them ?
by recklessmax
Tue Mar 24, 2020 11:13 am
Forum: Personal Investments
Topic: Deadline for 2019 IRA Contribution
Replies: 5
Views: 543

Re: IRA Contribution for 2019 deadline

Agree with the comments from Spirit Rider above. But how do we find this out . Do we call IRS helpline or give it some time as they are figuring out the changes since this is a fairly recent announcement ?
by recklessmax
Mon Mar 23, 2020 8:11 pm
Forum: Personal Investments
Topic: Deadline for 2019 IRA Contribution
Replies: 5
Views: 543

Deadline for 2019 IRA Contribution

I understand that the tax filing deadline was extended to July15. Does this mean IRA contributions can be made until that date for FY2019
.ie is the deadline was IRA contributions also been extended ?
by recklessmax
Wed Mar 11, 2020 7:20 pm
Forum: Personal Investments
Topic: Hedge against Vanguard Total Bond market Fund (VBTIX)
Replies: 2
Views: 480

Hedge against Vanguard Total Bond market Fund (VBTIX)

Hello ALL Currently holding 50% of my portfolio in VBTIX after rebalancing last week based on limited options available in my employer 401k plan The trend for this bond fund has been down for the past 3 days based on current market conditions. Since it is a mutual fund i cannot trade intra-day in my...
by recklessmax
Wed Mar 11, 2020 2:19 pm
Forum: Investing - Theory, News & General
Topic: BND Fell Today
Replies: 143
Views: 13409

Re: BND Fell Today

BND .. although i reduced 50% exposure, its been falling like a knife since past few days ? tried to sell BND short on another brokerage to cover the exposure in my 401K account and it wont let me ? so whats a good hedge for BND or should i sell and move the rest of 50% in BND to money market since...
by recklessmax
Wed Mar 11, 2020 12:08 pm
Forum: Personal Investments
Topic: Backdoor ROTH IRA
Replies: 15
Views: 905

Backdoor ROTH IRA

Based on my income limits i am not eligible for ROTH IRA but I understand that irrespective of income limit i can do a backdoor ROTH I was planning to do the backdoor ROTH with fidelity as i dont hold any IRAs with them for FY 2019 However i do hold a traditional IRA at vanguard . As per fidelity i ...
by recklessmax
Wed Mar 11, 2020 11:59 am
Forum: Investing - Theory, News & General
Topic: BND Fell Today
Replies: 143
Views: 13409

Re: BND Fell Today

BND .. although i reduced 50% exposure, its been falling like a knife since past few days ? tried to sell BND short on another brokerage to cover the exposure in my 401K account and it wont let me ? so whats a good hedge for BND or should i sell and move the rest of 50% in BND to money market since ...
by recklessmax
Mon Mar 09, 2020 3:25 pm
Forum: Investing - Theory, News & General
Topic: BND Fell Today
Replies: 143
Views: 13409

Re: BND Fell Today

is that the only reason BND fell today. What seems to be the outlook for BND from here ?? my 401K allocation is going into it
by recklessmax
Tue Feb 07, 2017 5:53 am
Forum: Personal Investments
Topic: Need serious Advice for Investment Portfolio sitting in Cash
Replies: 5
Views: 1323

Re: Need serious Advice for Investment Portfolio sitting in Cash

Gold isn't any better than buying train cars full of coal. It throws off no dividends, triggers collectible taxes on gains when sold and goes up and down mostly based on when speculators get worried about the stock market. If you're going to buy a house, stay in cash. If you expect your cash is far...
by recklessmax
Mon Feb 06, 2017 6:31 am
Forum: Personal Investments
Topic: Need serious Advice for Investment Portfolio sitting in Cash
Replies: 5
Views: 1323

Need serious Advice for Investment Portfolio sitting in Cash

First Post (Been lurking around in forums from past 1 month). Need some serious advice with large amount of cash from property sales Investment knowledge : Novice My stats : Age : 37 (Single). Looking to get married in next year or so State of Residence : NJ (Metro area) Move to US 10 years ago so ...