Search found 410 matches

by Luckywon
Sat May 18, 2019 8:04 pm
Forum: Personal Investments
Topic: Young Investor Strategy Help
Replies: 9
Views: 707

Re: Young Investor Strategy Help

Rick Ferri wrote:
Sat May 18, 2019 8:01 pm
Buy VASGX and fuggedaboutit.

Rick Ferri
So wish I had done this from day one.
by Luckywon
Thu May 16, 2019 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

... bsteiner, have you seen cases where DIY amendments caused problems? Is this a very bad idea? I'm a California resident considering amending my Trust to change the beneficiaries using a previous amendment which changed the beneficiaries as a template. We don't see very many Wills or trusts that ...
by Luckywon
Wed May 15, 2019 11:34 pm
Forum: Personal Investments
Topic: I'm 37, late to the game, worth about 35k...
Replies: 42
Views: 7077

Re: I'm 37, late to the game, worth about 35k...

- someone above mentioned that i don't qualify to invest in IRAs, although i already have. is there any way of that catching up to bite me in the future? My understanding is that you are required to distribute ineligible/excess contributions along with earnings on those contributions and possibly p...
by Luckywon
Wed May 15, 2019 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

... I can't tell you how many times a person (title company, insurance company, bank) insists that they must have possession of the entire trust. ... If the trustees are the sellers, the title company wants to see the trust to make sure there's nothing in it that would prevent the trustees from sel...
by Luckywon
Wed May 15, 2019 5:01 pm
Forum: Personal Investments
Topic: Help my broker is trying to freak me out
Replies: 70
Views: 9348

Re: Help my broker is trying to freak me out

... once I was talking with broker I got nervous ... Looks like you are moving in a very good direction, with advice from this forum. I strongly suggest you never speak to your broker again. IMO, nothing he says will be of added value and he will be on a mission to retain you as a client using tact...
by Luckywon
Wed May 15, 2019 12:52 pm
Forum: Personal Investments
Topic: If you are already wealthy, what keeps you motivated?
Replies: 95
Views: 9394

Re: If you are already wealthy, what keeps you motivated?

Interesting question to think about. Here are some of the reasons I have heard or seen from colleagues/friends: -They enjoy their work or derive their self worth from their work. -Their spouse is not on board with them retiring. -They have no clue whether or not they could retire now. -The concept o...
by Luckywon
Wed May 15, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

Of have done a few minor DIY legal matters and have used a lawyer. Unfortunately, I have usually needed to make corrections to the attorney prepared documents which may make me lean more towards DIY than I otherwise would. I've had the same experience. On a few occasions, information I found online...
by Luckywon
Mon May 13, 2019 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Benefits of becoming an independent contractor
Replies: 35
Views: 2472

Re: Benefits of becoming an independent contractor

If you gross $180k as an independent contractor, you won't be able to, nor will you want to, have a salary of $180k. Let's say your salary is $100k. Your business account would look something like this: Salary: $100k Employer 401k: $25k (25% of salary up to $56k total employer + employee) Employer ...
by Luckywon
Mon May 13, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Benefits of becoming an independent contractor
Replies: 35
Views: 2472

Re: Benefits of becoming an independent contractor

I'm considering becoming an independent contractor in a similar job that I'm currently employed. For purposes of this thread, assume non-compete isn't an issue. It isn't an issue and I'd like to stay on topic. My goal is to compare: A) Staying with my current company vs B) Starting a single-member ...
by Luckywon
Mon May 13, 2019 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

J295 wrote:
Mon May 13, 2019 2:43 pm

And, why so many prior amendments?
Will not be enumerating why for you as your approval or comments on them are not of interest to me, and I cannot think of any good reason why you would inquire about the reasons for them.
by Luckywon
Mon May 13, 2019 10:48 am
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

I DIYed an amendment to our revocable trust for a similar reason; change of Successor Trustee as well as some minor changes. Since this was the first amendment and I had no example to copy, I used a template I found on the internet. After I prepared the amendment I paid a lawyer to review the amend...
by Luckywon
Sun May 12, 2019 9:14 am
Forum: Personal Investments
Topic: A spray of questions as a newbie snaps to attention in the last decade before retirement
Replies: 17
Views: 2683

Re: A spray of questions as a newbie snaps to attention in the last decade before retirement

If I were you I would move toward the three fund portfolio to the extent possible without triggering capital gains taxes. -Liquidate all retirement holdings and taxable holdings that have little or no capital gains and purchase vti, vxus and bnd (or their mutual fund equivalents) in an allocation th...
by Luckywon
Fri May 10, 2019 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 112
Views: 13908

Re: Cash - Throw it all on the table!!!

I keep about 25k in cash. Expenses about 16k/month. My next most liquid asset would be my ETF's.

I am not a believer in keeping a lot of cash. The liquidity of my ETF Investments is sufficient for me.
by Luckywon
Sun May 05, 2019 3:00 pm
Forum: Personal Investments
Topic: Too much stock!
Replies: 10
Views: 1569

Re: Too much stock!

Scenarios I am aware of to avoid ultimately paying federal capital gains taxes already accrued 1) You die. Heirs get step up. 2) Realize the gains when your MAGI is at 0% capital gains tax rate. 3) Donate the asset to charity. 4) Hold the stock until there is a major decline and the capital gains g...
by Luckywon
Sun May 05, 2019 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Perspective [How much is left for spending in retirement?]
Replies: 47
Views: 3980

Re: Perspective [How much is left for spending in retirement?]

I am confused about your “effective tax on RMDs.” If you approached it differently and only had the RMD income, then a single person would pay a 7% federal tax rate. For a married couple, it would be 3%. When I used the term "effective tax on RMD's" that is the difference in tax paid between taking...
by Luckywon
Sun May 05, 2019 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Perspective [How much is left for spending in retirement?]
Replies: 47
Views: 3980

Re: Perspective [How much is left for spending in retirement?]

There seems to be a wide spectrum of opinions on this thread with some projecting no tax on RMD's and some projecting taxes up to 20 something percent. I took a look at some actual numbers using what looks to be a very good calculator here. (Would be very interested to know whether people think this...
by Luckywon
Sat May 04, 2019 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Perspective [How much is left for spending in retirement?]
Replies: 47
Views: 3980

Re: Perspective [How much is left for spending in retirement?]

I ran a pro forma return on Turbotax for a return assuming 45k social security income, single filer and an RMD at age 70 on $1 million IRA of $36,496. Standard deduction 12k. I also ran the numbers for an RMD of $50,000 An RMD of $36,496 increases federal tax due from $0 to $6,864 for a tax rate of ...
by Luckywon
Sat May 04, 2019 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Mid year S-corp to sole proprietorship tax/401k implications
Replies: 35
Views: 1260

Re: Mid year S-corp to sole proprietorship tax/401k implications

Spirit Rider I wonder if you have seen this calculator which seems to do an amazing job returning pro forma tax calculations for schedule C/F, partnership K-1, S Corp K-1, and C Corp entities. Would be very interested in any thoughts you have as to its utility. BTW I appreciate so much your contrib...
by Luckywon
Sat May 04, 2019 2:15 pm
Forum: Personal Investments
Topic: Too much stock!
Replies: 10
Views: 1569

Re: Too much stock!

Hi all! I could use some help: I have a 401 K at work, and a separate IRA at Vanguard (index funds). I also have an Individual brokerage account online (individual stocks), that is getting out of proportion due to unrealized capitol gains in the last couple of years. I would like to move some of th...
by Luckywon
Sat May 04, 2019 11:31 am
Forum: Personal Finance (Not Investing)
Topic: QBI Calculator single member LLC
Replies: 3
Views: 262

Re: QBI Calculator single member LLC

I'm sorry I am not qualified to answer your question but want to say this looks like an amazing tool. I have been struggling to figure out whether sole proprietorship or S Corp (current status) will result in lower taxes for me and it looks like this may be very helpful. I was the OP in another thre...
by Luckywon
Sat May 04, 2019 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Mid year S-corp to sole proprietorship tax/401k implications
Replies: 35
Views: 1260

Re: Mid year S-corp to sole proprietorship tax/401k implications

I hope you mean your going to convert to an llc with sole prop pass through. Because the personal liability shield is worth the added taxes. Imo This is another persistent myth. Not to mention being false about the tax issue in most states. An LLC is not a tax status, it is a state chartered busine...
by Luckywon
Sat May 04, 2019 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Perspective [How much is left for spending in retirement?]
Replies: 47
Views: 3980

Re: Perspective [How much is left for spending in retirement?]

How much do you consider yours in a $1M tax-advantaged savings account? Would a $1M Roth IRA be different? You bring up a consideration that I have also thought about. I think it is an interesting exercise to estimate what your effective tax rate would be on withdrawals from retirement assets. In m...
by Luckywon
Sat May 04, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Perspective [How much is left for spending in retirement?]
Replies: 47
Views: 3980

Re: Perspective [How much is left for spending in retirement?]

Let’s assume everything is in a tax-advantaged, traditional IRA. From this $1M total, you must take away taxes. You are good, but you can’t get away from paying Uncle Sam, so let’s say you can reasonably assume a 21% average tax bracket. This leaves you with $1M - ($1M x 21%) or $790,000. Furthermo...
by Luckywon
Fri May 03, 2019 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Giving two week's notice before stock options vest
Replies: 91
Views: 5483

Re: Giving two week's notice before stock options vest

To my understanding, the whole Amazon made $11B and paid no federal income tax is in large part due to RSUs. On their income tax returns, they get to deduct RSUs they give out as an expense, while on the earnings they show Wall Street they don’t . (I.e. their RSU grants were close to 100% of profit...
by Luckywon
Fri May 03, 2019 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone down-shifted in their career?
Replies: 59
Views: 6510

Re: Has anyone down-shifted in their career?

OP, I made a substantial down-shift in status, pay and work hours a few years ago. Basically, I felt that I could afford to do so and that it would be better for my health and happiness. This was all good in theory but the outcome has been mixed. Additional time off has been great but I have found m...
by Luckywon
Thu May 02, 2019 11:15 pm
Forum: Personal Finance (Not Investing)
Topic: Giving two week's notice before stock options vest
Replies: 91
Views: 5483

Re: Giving two week's notice before stock options vest

That maybe, but the accounting department certainly begs to differ. And this fails the common sense test as if the cost were anything less than cash, the majority of compensation would be in this form. RSUs are given out over a 4 year vesting period. It’s tough to tell your landlord, “hey, for rent...
by Luckywon
Thu May 02, 2019 9:40 pm
Forum: Personal Investments
Topic: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?
Replies: 43
Views: 3891

Re: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?

It looks like VWITX yields 2.03% (30 day sec yield) while VBTLX (vanguard Total Bond Index) yields 2.94%. Isn't it better to take pay the taxes on the extra yield? Well - I did the math - it looks like if you're below the 31% tax bracket, you're better of in VBTLX, but if you're tax bracket is high...
by Luckywon
Thu May 02, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Giving two week's notice before stock options vest
Replies: 91
Views: 5483

Re: Giving two week's notice before stock options vest

In a theoretical sense you are correct. But going back to the OPs dilemma, HR departments don’t think of them as costing their companies anything. That maybe, but the accounting department certainly begs to differ. And this fails the common sense test as if the cost were anything less than cash, th...
by Luckywon
Thu May 02, 2019 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Giving two week's notice before stock options vest
Replies: 91
Views: 5483

Re: Giving two week's notice before stock options vest

In a theoretical sense you are correct. But going back to the OPs dilemma, HR departments don’t think of them as costing their companies anything. That maybe, but the accounting department certainly begs to differ. And this fails the common sense test as if the cost were anything less than cash, th...
by Luckywon
Thu May 02, 2019 6:00 pm
Forum: Personal Investments
Topic: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?
Replies: 43
Views: 3891

Re: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?

Just to add more problems. This becomes even more complex when considering phase outs of certain taxes like the child tax credit or the qualified business deduction. Agreed. It can be very difficult to grasp everything that may in play. Preparing pro forma returns using some program like Turbotax "...
by Luckywon
Thu May 02, 2019 5:05 pm
Forum: Personal Investments
Topic: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?
Replies: 43
Views: 3891

Re: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?

I should ask the TurboTax guys - but even after looking at my tax returns I have no idea what my income is. Do I include short term, long term CapGains to figure out what my income is? Or All Earned income from job - (401K + HSA + Standard Deduction + Child Credit)? Looks like I'm either in the 24%...
by Luckywon
Thu May 02, 2019 2:06 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 10788
Views: 1887330

Re: U.S. stocks in free fall

The US stock market hasn't gone anywhere for the past 16 months. Total stock Index (VTSAX) 1/22/2018 @71.50 5/2/2019 @72.60 Same story with Dow and SP500 Why 16 months? Pretty arbitrary. And anyway you ignored dividends. $10,000 invested in VTSAX was worth $10,625 at close yesterday (5/1). So that'...
by Luckywon
Thu May 02, 2019 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Giving two week's notice before stock options vest
Replies: 91
Views: 5483

Re: Giving two week's notice before stock options vest

However, stock doesn’t cost the company anything. The only reason to do that, would be if they literally wanted to f*** with you. They get no benefit. Assuming you have a decent reputation with your boss and Co-workers, I can’t see them doing that. Although it's not cash, when a company vests an em...
by Luckywon
Thu May 02, 2019 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

sounds like you have talked yourself into doing it as a DIY. I think the opportunity for an unforced error is great, maybe it's as simple as you think, but if it's not, the consequences can be ugly. And you won't be around to sort it out Maybe a compromise is having it done professionally, and have...
by Luckywon
Thu May 02, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Amex Platinum Annual Fee
Replies: 15
Views: 1349

Re: Amex Platinum Annual Fee

Possibly of interest if you are not already aware AMEX Platinum is available in different versions-some are associated with other companies e.g. Schwab, Morgan Stanley. The benefits are largely the same but there are some differences between them. Schwab AMEX Platinum Card can provide an annual $100...
by Luckywon
Thu May 02, 2019 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Giving two week's notice before stock options vest
Replies: 91
Views: 5483

Re: Giving two week's notice before stock options vest

Wow, a lot to digest in this thread, this seems to be a very polarizing decision! I have polled most of my friends, and my friends I consider to be more "business saavy"/lawyer have mostly told me to only give notice after the vest, while most of my other friends suggested two weeks. How ‘certain’ ...
by Luckywon
Thu May 02, 2019 11:27 am
Forum: Personal Investments
Topic: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?
Replies: 43
Views: 3891

Re: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?

Try looking on line 10 of the 2018 tax return. It's called "taxable income". Compare that to the tax brackets you see in this link. This is the rate your ordinary income is taxed at. Long term capital gains and qualified dividends are taxed differently. http://www.moneychimp.com/features/tax_bracke...
by Luckywon
Thu May 02, 2019 11:12 am
Forum: Personal Investments
Topic: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?
Replies: 43
Views: 3891

Re: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?

It looks like VWITX yields 2.03% (30 day sec yield) while VBTLX (vanguard Total Bond Index) yields 2.94%. Isn't it better to take pay the taxes on the extra yield? Well - I did the math - it looks like if you're below the 31% tax bracket, you're better of in VBTLX, but if you're tax bracket is high...
by Luckywon
Thu May 02, 2019 11:00 am
Forum: Personal Investments
Topic: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?
Replies: 43
Views: 3891

Re: Vanguard Intermediate-Term Tax-Exempt VWITX makes no sense?

It looks like VWITX yields 2.03% (30 day sec yield) while VBTLX (vanguard Total Bond Index) yields 2.94%. Isn't it better to take pay the taxes on the extra yield? Well - I did the math - it looks like if you're below the 31% tax bracket, you're better of in VBTLX, but if you're tax bracket is high...
by Luckywon
Thu May 02, 2019 10:00 am
Forum: Personal Investments
Topic: Tolerable expense ratio for bond fund
Replies: 4
Views: 201

Re: Tolerable expense ratio for bond fund

95 % of my fixed-income holding (which is 35% of my portfolio) is split between BND (ER 0.05) and SWAGX (ER 0.04). But there are many large bond funds in the US with expense ratios not far from 0.5%. What you are describing may not be too bad.
by Luckywon
Wed May 01, 2019 9:11 pm
Forum: Personal Consumer Issues
Topic: Frugality regret: What thing do you regret not spending on?
Replies: 208
Views: 45996

Re: Frugality regret: What thing do you regret not spending on?

Trip to anywhere with my mother or father, now deceased.
by Luckywon
Wed May 01, 2019 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

Another wrinkle is that the original attorney is no longer practicing law. I imagine that to have a new attorney draft up the amendment, it would be probably as expensive as creating the trust initially. Seems like a lot of money to pay for a simple Amendment.
by Luckywon
Wed May 01, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

Re: DIY amendment to Trust?

Is there anything in the Trust itself and/or the amendment that cross-reference each other? Your modification may be determined to be invalid because it does not satisfy the terms of the trust. I'm not an attorney, but when modifying contracts I prefer to have qualified counsel do the work, they do...
by Luckywon
Wed May 01, 2019 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: DIY amendment to Trust?
Replies: 22
Views: 1894

DIY amendment to Trust?

I have previously used an attorney to create and amend my revocable living trust. Previous Amendment was to change beneficiaries. I am thinking of drafting another Amendment myself, again to change the beneficiary designations, using the previous Amendment as a template. I am a California resident. ...
by Luckywon
Wed May 01, 2019 2:06 am
Forum: Personal Investments
Topic: I'm 37, late to the game, worth about 35k...
Replies: 42
Views: 7077

Re: I'm 37, late to the game, worth about 35k...

Not sure whether this was mentioned, but it appears that you are at the 0% capital gains tax rate now so keep an eye on unrealized capital gains in your taxable accounts, and realize those gains if you are still at the 0% capital gains tax rate this year or in subsequent years. My opinion is that yo...
by Luckywon
Tue Apr 30, 2019 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Is a trust better than a will?
Replies: 8
Views: 1071

Re: Is a trust better than a will?

Who is in your picture in the event of your incapacity? Do you have family/friends you would feel comfortable naming as successor trustees and/or power of attorney?
by Luckywon
Tue Apr 30, 2019 12:15 am
Forum: Personal Finance (Not Investing)
Topic: 20 countries where 200K in retirement savings will last you decades
Replies: 232
Views: 27276

Re: 20 countries where 200K in retirement savings will last you decades

Here's my geopolitical/quality of life take on the countries on the list. Mind you, I lived in Colombia during the heyday of the drug cartels, so I can tolerate quite a bit of violence before things get to me (so long as I have electricity, good food, and functional plumbing). Ecuador High crime, o...
by Luckywon
Mon Apr 29, 2019 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: 20 countries where 200K in retirement savings will last you decades
Replies: 232
Views: 27276

Re: 20 countries where 200K in retirement savings will last you decades

Joe, Why is India not an option ? expensive ? Very cheap living is possible but: Unchecked human overpopulation. Don't drink the water. They don't have toilet paper in India. They don't have public toilets in India. In rural India, they don't have toilets. Not to suggest in any way the toilet situa...
by Luckywon
Mon Apr 29, 2019 11:29 pm
Forum: Personal Investments
Topic: How to start investing in this market
Replies: 8
Views: 1422

Re: How to start investing in this market

I always suggest a lump-sum but that depends if you are a logical or emotion driven person. If DCA'ing made sense then why wouldn't someone who has saved $2M in a 401k (no tax implications to move to "cash") over a 30 year career periodically move everything to a money market and then re-invest in ...