Search found 237 matches

by sailaway
Mon Jun 18, 2018 12:21 pm
Forum: Investing - Theory, News & General
Topic: mega backdoor Roth -- why not stay in the roth 401(k)
Replies: 14
Views: 1170

Re: mega backdoor Roth -- why not stay in the roth 401(k)

Are you aware that you can withdraw your Roth IRA conversions after 5 years, penalty free? In this sense, the Roth IRA might be more flexible than the Roth 401k for those retiring prior to 59.5.
by sailaway
Thu Jun 14, 2018 4:19 pm
Forum: Personal Consumer Issues
Topic: Long Weekend in November - NOLA, Austin, Other
Replies: 26
Views: 1231

Re: Long Weekend in November - NOLA, Austin, Other

Have you looked at Savannah? It looks like Jet Blue has direct flights that are under 3 hours!
by sailaway
Thu Jun 14, 2018 4:17 pm
Forum: Personal Consumer Issues
Topic: Non-alcoholic drinks for wedding
Replies: 79
Views: 3563

Re: Non-alcoholic drinks for wedding

People who can't handle a dry wedding have bigger issues than can be addressed by the bride and groom. This. its not about people not being able to handle a dry wedding, but the simple fact that many people become more happy/loose/festive with a little spirit in them which can give an infectious en...
by sailaway
Thu Jun 14, 2018 12:06 pm
Forum: Personal Consumer Issues
Topic: Non-alcoholic drinks for wedding
Replies: 79
Views: 3563

Re: Non-alcoholic drinks for wedding

Have a soda bar, with colorful syrups and fizzy water. And cherries, of course!

Sparkling grape juice for toasting.

People who can't handle a dry wedding have bigger issues than can be addressed by the bride and groom.
by sailaway
Sun Jun 10, 2018 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: How much rent can one afford?
Replies: 4
Views: 498

Re: How much rent can one afford?

When I was first thinking about it, I was told 25% of net (although you could get approval for 25% of gross). Now days, I have seen as high as 30% of gross. The lower you can go and still feel comfortable and homey is obviously best.
by sailaway
Sat Jun 09, 2018 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: Existing Roth IRA
Replies: 15
Views: 724

Re: Existing Roth IRA

I feel like a couple of different issues are being conflated. If I have no tIRA, I can do a backdoor Roth by putting an after tax contribution into a traditional IRA and moving it immediately into a Roth. If there is no growth, there is no tax. If I wait a while and there is growth, I will owe tax o...
by sailaway
Sat Jun 09, 2018 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Existing Roth IRA
Replies: 15
Views: 724

Re: Existing Roth IRA

1) it sits there, growing, tax free until you need it.
2) you use a back door Roth plan to make two step contributions (depends on existing tIRAs)
3) you use the mega backdoor to make large contributions via your 401k (depends on 401k plan details)
by sailaway
Fri Jun 08, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Why do we work?
Replies: 121
Views: 10053

Re: Why do we work?

I work because it is easier than sustenance farming.
by sailaway
Fri Jun 08, 2018 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: IRA' s and separate beneficiaries
Replies: 5
Views: 261

Re: Ira' s and separate beneficiaries

Wouldn't you prefer to make your own trust the beneficiary of your own IRAs and vice versa?
by sailaway
Wed Jun 06, 2018 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: Just utilize the mega backdoor? Is it that simple?
Replies: 20
Views: 2129

Re: Just utilize the mega backdoor? Is it that simple?

How do you get ~$20K in cash into a mega back door all at once? My understanding is you have to enable after-tax contributions on your 401k first, then wait for the after-tax balance to build up somewhat before pulling the trigger. I would wonder the same. I doubt you could move cash savings to you...
by sailaway
Wed Jun 06, 2018 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Insurance for non-married couples
Replies: 17
Views: 848

Re: Insurance for non-married couples

Pajamas wrote:
Wed Jun 06, 2018 11:07 am
sailaway wrote:
Wed Jun 06, 2018 10:44 am
domestic partners, which is not a legal relationship in the US.
Depends on the state. Some states legally recognize domestic partnerships or civil unions in addition to marriages of various types.
Huh, turns out I live in a domestic partnership state.
by sailaway
Wed Jun 06, 2018 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Insurance for non-married couples
Replies: 17
Views: 848

Re: Insurance for non-married couples

You are going to have to make some phone calls. Car insurance is pretty straight forward, but there may be discounts for domestic partners, which is not a legal relationship in the US. When we looked into it, some companies did offer domestic partner policies, others only had boxes for legal status....
by sailaway
Tue Jun 05, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: What is your Take Home Pay / Gross Pay ratio?
Replies: 75
Views: 5661

Re: What is your Take Home Pay / Gross Pay ratio?

57.2% Max 401k, 401k catch up, and after tax 401k PRE TAX 401k 7.00% PRE TAX 401k Catch up 3.00% I don’t understand how you can be maxing your 401k and Catch up with those percentages. If you make $200k the catch up is maxed but the 401k is only $14k. If you make $264k and change, the 401k is maxed...
by sailaway
Sat Jun 02, 2018 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: Max out 401k w/credit card debt?
Replies: 30
Views: 1863

Re: Max out 401k w/credit card debt?

Cut back on the 529 before the 401k. There are more student grants and loans than their are senior grants
by sailaway
Sat Jun 02, 2018 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking about RSUs and asset allocation
Replies: 12
Views: 935

Re: Thinking about RSUs and asset allocation

I don't count my chickens before they hatch. RSUs are not mine until they vest, at which time I sell and invest according to plan. Until then, layoffs, sudden opportunities elsewhere, etc could all mean that I never receive them.
by sailaway
Sat Jun 02, 2018 1:45 pm
Forum: Investing - Help with Personal Investments
Topic: Thanks Bogleheads - Mega Backdoor Roth FTW
Replies: 25
Views: 2334

Re: Thanks Bogleheads - Mega Backdoor Roth FTW

We first looked into mega backdoor after someone mentioned that their company match applied to the extra funds: of course we were up for free money! Well, megacorp does not match that portion, but mega 40k provider does have dedicated advisors for megacorp that make the process simple. Like a previo...
by sailaway
Thu May 31, 2018 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Where to save?
Replies: 7
Views: 869

Re: Where to save?

In your opinion, what is the downside of doing the mega backdoor Roth?

Will you also be doing Roth conversions while your income is low?
by sailaway
Thu May 31, 2018 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Profile: The Road to 1Million USD
Replies: 42
Views: 8422

Re: Profile: The Road to 1Million USD

Great start so far! I presume this is for your retirement. Advice #1: Save enough for tomorrow while enjoying today. Advice #2: I suggest following the investment order of operations below. (Full link can be found at https://forum.mrmoneymustache.com/investor-alley/investment-order/msg1333153/#msg1...
by sailaway
Thu May 31, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 17545

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

When I worked at a university, a lot of students got scholarshios because they were the only ones to apply for then. These were often departmental or program specific, $1-2k at a time, but that is a thousand dollars or more for a couple of hours of work.
by sailaway
Wed May 30, 2018 11:33 am
Forum: Personal Finance (Not Investing)
Topic: "Reversing" 401k to get match at new job?
Replies: 20
Views: 1543

Re: "Reversing" 401k to get match at new job?

stimulacra wrote:
Wed May 30, 2018 11:30 am
Does the new employer offer a Roth 401k? I might go that route for the remainder of 2018 if they do.
The same limit still applies.

However, it might be worth asking if they match after tax contributions.
by sailaway
Tue May 29, 2018 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Do you have a monthly household budget?
Replies: 63
Views: 3930

Re: Do you have a monthly household budget?

I don't think budgeting is a thing of the past, rather this forum self selects for a high percentage of people who can do well enough without keeping track of their monthly buckets. We save more than twice what we spend. We have decided that it just isn't worth any additional effort to save more, gi...
by sailaway
Sat May 26, 2018 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: medicaid as early retirement medical insurance (or maybe Obamacare)
Replies: 41
Views: 3782

Re: medicaid as early retirement medical insurance (or maybe Obamacare)

Questions: 1. Is medicaid (Texas) a feasible medical insurance option for early retirees? What are the eligibility requirements (i had a hard time finding this online)? 2. Is Obamacare insurance a better option if you get it subsidized fully by the federal government? I'm confused by the "early ret...
by sailaway
Sat May 26, 2018 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Leave career (fortune 200) and join the peace corps?
Replies: 29
Views: 3349

Re: Leave career (fortune 200) and join the peace corps?

See this for Peace Corps compensation and benefits: https://www.peacecorps.gov/about/agency-jobs/salary-and-benefits/ As you may know, you can save 10% of salary in TSP. This information applies to Peace Corps employees, not volunteers. The retirement information and health insurance are different ...
by sailaway
Fri May 25, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Is backdoor Roth IRA eliminated in 2018?
Replies: 19
Views: 3582

Re: Is backdoor Roth IRA eliminated in 2018?

I definitely understood the elimination of “retrospective” recharacterizarions. For some reason I also had read that the entire “backdoor” maneuver had been closed. Not the application of the step doctrine which was theoretically existed as long as the backdoor has been “open,” but rather an additi...
by sailaway
Fri May 25, 2018 4:09 pm
Forum: Personal Consumer Issues
Topic: I need advice on having 2 jobs.
Replies: 25
Views: 2881

Re: I need advice on having 2 jobs.

Have you read the non compete and moonlighting clauses of your contracts?
by sailaway
Fri May 25, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Is backdoor Roth IRA eliminated in 2018?
Replies: 19
Views: 3582

Re: Is backdoor Roth IRA eliminated in 2018?

The backdoor Roth IRA still stands.

What changed is the "do overs," you cannot recharacterize the money after the rollover.
by sailaway
Fri May 25, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: I've never budgeted sucessfully
Replies: 59
Views: 4940

Re: I've never budgeted sucessfully

Most accounts these days allow you to download the information already sorted by category. By combining information from these three accounts, we track the vast majority of our spending. It was three credit cards and two accounts until recently, still very easy to track. I tried Quicken a long time...
by sailaway
Fri May 25, 2018 1:43 pm
Forum: Investing - Help with Personal Investments
Topic: Should I invest in expensive 457 plan?
Replies: 24
Views: 1512

Re: Should I invest in expensive 457 plan?

Check the Roth IRA limits for married filing jointly before making any changes. Speaking of married, you do not mention how you and your wife plan on navigating retirement given your age difference. Will she retire at the same time as you to spend time together or keep working? What will happen with...
by sailaway
Wed May 23, 2018 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: I've never budgeted sucessfully
Replies: 59
Views: 4940

Re: I've never budgeted sucessfully

We use two credit cards and one bank account for everything possible. Most accounts these days allow you to download the information already sorted by category. By combining information from these three accounts, we track the vast majority of our spending. It was three credit cards and two accounts ...
by sailaway
Wed May 23, 2018 10:09 pm
Forum: Investing - Help with Personal Investments
Topic: Parents with pre-K kids and 529 target
Replies: 50
Views: 2959

Re: Parents with pre-K kids and 529 target

One brother was a computer science major, the other a chemistry major. Mom admitted, while I was still in grad school, that even with my humanities degree and this silly grad school thing, I was more financially stable than either of them. The fact that your mom predicted that even before you guys ...
by sailaway
Wed May 23, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Parents with pre-K kids and 529 target
Replies: 50
Views: 2959

Re: Parents with pre-K kids and 529 target

Plus if they choose some deadbeat major, I will not fund anything. One brother was a computer science major, the other a chemistry major. Mom admitted, while I was still in grad school, that even with my humanities degree and this silly grad school thing, I was more financially stable than either o...
by sailaway
Wed Feb 21, 2018 2:38 pm
Forum: Personal Consumer Issues
Topic: Sams Club vs Costco
Replies: 78
Views: 6718

Re: Sams Club vs Costco

Costco aims for more affluent customers, while Sam's aims for more of a "blue collar" type market. I once read an article comparing the two stores. The writer used a fine ladies sweater as an example. It would sell for about $100 in a department store and would be about $60 at Costco. He said that ...
by sailaway
Sat Feb 17, 2018 5:37 pm
Forum: Investing - Theory, News & General
Topic: Mega backdoor: in Plan Roth to Roth IRA
Replies: 9
Views: 991

Re: Mega backdoor: in Plan Roth to Roth IRA

Were you taxed on the earnings when you went from after tax to in plan Roth or were those earnings just rolled over into you traditional 401k?
by sailaway
Thu Feb 15, 2018 11:32 am
Forum: Personal Consumer Issues
Topic: What big item (>20k) are you saving up for?
Replies: 159
Views: 14112

Re: What big item (>20k) are you saving up for?

(Reason for my post is I have bit of taxable saved up and thinking about what I might spend it on if I chose to spend it.) We would never notice extra money in our accounts and just spend it because it was there. $20k is just two months less work at the other end. That being said, $20k would also c...
by sailaway
Wed Feb 14, 2018 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Changing from SS Spousal to Survivor
Replies: 26
Views: 1796

Re: Changing from SS Spousal to Survivor

Whether it is required or not, why wouldn't you call to confirm?
by sailaway
Fri Feb 09, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 7157

Re: Why would people buy condos/SFH in Texas?

Above and beyond the math, Texas has lousy protections for tenants. One might buy just for that reason.
by sailaway
Fri Feb 09, 2018 9:14 pm
Forum: Personal Consumer Issues
Topic: Folding bicycles
Replies: 29
Views: 2167

Re: Folding bicycles

There are many folding bike companies at a variety of price points. http://www.citizenbike.com/catalog.asp?product_category_id=1&product_id=1 I do not think most are "10 to 20 mile" bikes. They are meant for easy touring, cruising around, sight seeing, etc. I love my Citizen for 10-20 miles loop. I...
by sailaway
Fri Feb 09, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Live / work in California - Technology Career
Replies: 99
Views: 6978

Re: Live / work in California - Technology Career

I knew when we moved to California we had to expect a smaller home, I did not realize that they would be so crappily built. Even the upgraded apartments were done on the cheap (thinnest laminate on floors, cardboard cupboards hung askew...). You can get better finishes by sticking to upperclass neig...
by sailaway
Fri Feb 09, 2018 10:40 am
Forum: Personal Consumer Issues
Topic: Folding bicycles
Replies: 29
Views: 2167

Re: Folding bicycles

DH loves his Montague mountain bike, which was full size wheels. I have a Citizen with 20" wheels. My complaint is that I only got 3 gears; I max out at a pretty low speed.
by sailaway
Thu Feb 08, 2018 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: 401(k), Backdoor Roth
Replies: 7
Views: 299

Re: 401(k), Backdoor Roth

coffeehubcap wrote:
Thu Feb 08, 2018 12:45 pm
Ah, that's right a conversion is not a contribution. That makes sense.
.

This is why it helps to give more info. MFS is pretty rare around here.
by sailaway
Thu Feb 08, 2018 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: 401(k), Backdoor Roth
Replies: 7
Views: 299

Re: 401(k), Backdoor Roth

coffeehubcap wrote:
Thu Feb 08, 2018 12:34 pm
The IRS says no to contributions to a Roth if MAGI is over 10K.
Maybe you mean $100k?

Moreover, a conversion is not a contribution, that is the whole point of the backdoor Roth.
by sailaway
Thu Feb 08, 2018 12:25 pm
Forum: Investing - Theory, News & General
Topic: Average amount saved for retirement by age
Replies: 148
Views: 37119

Re: Average amount saved for retirement by age

I agree with @staythecourse. It’s how you spend money. I was shocked to hear one of my kid’s friends in college whose parents insisted on buying a class ring for graduation, cost about $700-$1000, the kid was in a poor category by the pre college program he enrolled in, that’s how my daughter told ...
by sailaway
Thu Feb 08, 2018 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 288
Views: 21848

Re: free dinner investing seminar

I figure 20 dinners at $20 each. Someone in that room is paying the $4k plus the commissions that make it more than a break even venture for the presenter. Wife and I went to one years ago. It was clear that the presentation was pushing garbage. The wife went to the lady's room and shortly thereaft...
by sailaway
Thu Feb 08, 2018 1:18 am
Forum: Personal Finance (Not Investing)
Topic: No Emergency Funds yet Major Car Emergency
Replies: 47
Views: 3354

Re: No Emergency Funds yet Major Car Emergency

So you don't really have money to get this one fixed, but you think you should replace it with a new/practically new car? How much is a 5yo CRV, for example? How will the payments fit in with your current budget that doesn't seem to stretch to build an emergency fund? Why do you have your taxable ti...
by sailaway
Wed Feb 07, 2018 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: donating a car to charity?
Replies: 13
Views: 798

Re: donating a car to charity?

In my area, I can Google "car donation [area name]."

Have you asked the small pets charity or a local shelter?
by sailaway
Wed Feb 07, 2018 5:15 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable vs 401k investments
Replies: 17
Views: 1305

Re: Taxable vs 401k investments

If you want to compare yourself to MMM, you might want to look into some of his posts about how to save for that lifestyle. We have similar goals and we max t401k, after tax 401k, IRAs... All of which can make their way into a Roth IRA, which is more flexible than other retirement accounts, while st...
by sailaway
Wed Feb 07, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: donating a car to charity?
Replies: 13
Views: 798

Re: Vehicle Donation to Any Charity, LLC (V-DAC)

They will take a cut, so you would be better off donating directly to the charity of your choice. If none of the charities in your area that you are willing to support take vehicle donations, then look into a service such as this. My concern is that this service does not seem to be a charity itself?...
by sailaway
Wed Feb 07, 2018 3:42 pm
Forum: Personal Consumer Issues
Topic: Niagara falls US side
Replies: 27
Views: 1867

Re: Niagara falls US side

The only fun I ever had on the US side was the Christmas lights. The CA side is where the tourist stuff is. In large part, this is because the best falls are on the US side, which means the best views are on the other side. That being said, I do believe the Maid of the Mist leaves from the US side a...
by sailaway
Tue Feb 06, 2018 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13724

Re: Am I saving too much for retirment?

This question comes up quite a bit and I do not understand it. How can you save too much for retirement?

Perhaps what you mean to ask is if it is OK to lighten up and live it up now? If so, you have not given nearly enough information.