Search found 45 matches

by SillyRabbit
Fri Mar 15, 2019 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Letting umbrella insurance lapse
Replies: 30
Views: 2825

Re: Letting umbrella insurance lapse

I don't have any actual experience with this in terms of umbrella insurance, but would assume that you will still be able to get insurance in the future, but you might loose some continuous coverage discounts and it might end up being slightly more expensive. You can try testing this theory by going...
by SillyRabbit
Thu Jan 31, 2019 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question for rental property
Replies: 6
Views: 802

Re: Tax question for rental property

Actually, I am still confused about this topic. Assume the following about a rental property (hypothetical numbers): I buy the property for $10,000 I spend $1,000 improving the property I sell it for $15,000 two years later During the two years I rent out the property, I rent it out at a loss, so de...
by SillyRabbit
Fri Jan 25, 2019 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question for rental property
Replies: 6
Views: 802

Re: Tax question for rental property

Thanks for the replies. I am planning to sell the property soon and don't need the extra depreciation expense as am already net negative, so will go with option 3, depreciating the improvement using a standard method.
by SillyRabbit
Thu Jan 24, 2019 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question for rental property
Replies: 6
Views: 802

Tax question for rental property

I spent $10,000 last year removing a badly damaged deck and installing outdoor tile on my rental property. What are my options in terms of reporting this expense on my taxes? The way I understand it, I have 3 options: Don't report anything now, but save the receipts and add the amount to my cost bas...
by SillyRabbit
Thu Jan 24, 2019 4:40 pm
Forum: Personal Consumer Issues
Topic: Where to stay in Naples, Italy and along Amalfi coast
Replies: 36
Views: 2343

Re: Where to stay in Naples, Italy and along Amalfi coast

Amalfi Coast destinations are too far from Naples for multiple day trips. You will spend a large part of every day going through the same winding roads. I would recommend having a base on Amalfi Coast for part of the trip. When we did a similar trip, we stayed in Positano and did a day trip to Ravel...
by SillyRabbit
Thu Oct 25, 2018 5:54 pm
Forum: Investing - Theory, News & General
Topic: Scariest Things Heard This Week (Investing)
Replies: 9
Views: 2783

Re: Scariest Things Heard This Week (Investing)

A financial adviser told me that my large long term capital gains will come back to bite me when I end up selling, so I should instead give my money to them to manage for a 1% fee.
by SillyRabbit
Fri Sep 28, 2018 1:56 pm
Forum: Personal Investments
Topic: Warren Buffet Portfolio Critique
Replies: 56
Views: 5052

Re: Warren Buffet Portfolio Critique

According to "the Google", Warren Buffett is worth about $86b or $87b. Let's make it conservative & say $80b. So his legacy to his wife (assuming no inheritance taxes) would be $8.0b Treasuries/$72.0b stocks. I believe his wife is about 72 years old now. I guess she would be able to survive on $8.0...
by SillyRabbit
Thu Aug 16, 2018 8:00 pm
Forum: Personal Investments
Topic: Tax loss harvesting international funds at Fidelity
Replies: 12
Views: 1606

Re: Tax loss harvesting international funds at Fidelity

Are you saying that I can just use FTIPX and IXUS for tax loss harvesting and don't have to introduce a 3rd fund? No. I thought IXUS didn't follow the same index as FTIPX. Unfortunately, it does. Looking at their prospectuses, both FTIPX and IXUS follow the MSCI ACWI ex-US IMI. FSGDX follows MSCI A...
by SillyRabbit
Thu Aug 16, 2018 6:35 pm
Forum: Personal Investments
Topic: Tax loss harvesting international funds at Fidelity
Replies: 12
Views: 1606

Re: Tax loss harvesting international funds at Fidelity

Could purchases of shares in a 401k account trigger wash sales for funds in a taxable account or are they mutually exclusive? I say no, but others would disagree. To me since the 401k is owned by the employer, not you, it doesn't have the same "wash rule" problem. It's debatable, unlike IRAs, which...
by SillyRabbit
Thu Aug 16, 2018 6:34 pm
Forum: Personal Investments
Topic: Tax loss harvesting international funds at Fidelity
Replies: 12
Views: 1606

Re: Tax loss harvesting international funds at Fidelity

In addition to Duckie's recommendation for FSGDX, if you are interested in a mutual fund, you could try Fidelity's new FZILX, Fidelity ZERO International Index Fund. This fund is tracking Fidelity's own total international index of developed and emerging market large and mid caps. It has a $0 minim...
by SillyRabbit
Thu Aug 16, 2018 6:29 pm
Forum: Personal Investments
Topic: Tax loss harvesting international funds at Fidelity
Replies: 12
Views: 1606

Re: Tax loss harvesting international funds at Fidelity

What would be a good fund to have at Fidelity that is sufficiently different from both FTIPX and IXUS? ( FSGDX ) Fidelity Global ex U.S. Index Fund Premium Class (0.06%) would be an option. Could purchases of shares in a 401k account trigger wash sales for funds in a taxable account or are they mut...
by SillyRabbit
Thu Aug 16, 2018 12:21 pm
Forum: Personal Investments
Topic: Tax loss harvesting international funds at Fidelity
Replies: 12
Views: 1606

Tax loss harvesting international funds at Fidelity

Hello all, I currently hold FTIPX in 401k and IXUS in a taxable account at Fidelity. I am thinking of tax loss harvesting the near future and wanted to get some advice on avoiding wash sales. The questions I have are are: What would be a good fund to have at Fidelity that is sufficiently different f...
by SillyRabbit
Fri May 18, 2018 11:50 am
Forum: Personal Consumer Issues
Topic: Renting storage unit
Replies: 24
Views: 2387

Re: Renting storage unit

Thanks for the advice everyone! I see now that in the long term it is better to just de-clutter as the cost will add up to more than what the storage content is worth.
by SillyRabbit
Thu May 17, 2018 7:55 pm
Forum: Personal Consumer Issues
Topic: Renting storage unit
Replies: 24
Views: 2387

Renting storage unit

Does anyone have experience with renting storage units? Does it become too expensive over time?

Am wondering if it would be a good option for a family of 4 living in a small apartment and being tight on space (over renting a bigger place).
by SillyRabbit
Fri Jan 05, 2018 11:44 am
Forum: Personal Investments
Topic: Investment advice for 59 year old parents new to investing
Replies: 7
Views: 726

Re: Investment advice for 59 year old parents new to investing

My parents are very behind in their retirement planning (with all their saving being tied up in their house). I think their strategy was to pay off their house to reduce expenses and to live mostly on social security with help from me when needed (the help would be freely given). However, I recentl...
by SillyRabbit
Fri Jan 05, 2018 11:42 am
Forum: Personal Investments
Topic: Investment advice for 59 year old parents new to investing
Replies: 7
Views: 726

Re: Investment advice for 59 year old parents new to investing

Thanks Ged and Tyler Aspect for the replies.
by SillyRabbit
Thu Jan 04, 2018 6:31 pm
Forum: Personal Investments
Topic: Investment advice for 59 year old parents new to investing
Replies: 7
Views: 726

Re: Investment advice for 59 year old parents new to investing

think you answered your own question. if they'll be in a lower tax bracket when they withdraw the money then shouldn't they save on taxes now? If so, this favors the pretax, not Roth. Thanks, this does make sense. I think it was the withdrawal rules that threw me off initially. do they have enough ...
by SillyRabbit
Thu Jan 04, 2018 5:59 pm
Forum: Personal Investments
Topic: Investment advice for 59 year old parents new to investing
Replies: 7
Views: 726

Investment advice for 59 year old parents new to investing

My parents are very behind in their retirement planning (with all their saving being tied up in their house). I think their strategy was to pay off their house to reduce expenses and to live mostly on social security with help from me when needed (the help would be freely given). However, I recently...
by SillyRabbit
Wed Dec 13, 2017 3:03 pm
Forum: Personal Investments
Topic: ROTH IRA Holders: How Many Of You Max Your Contribution On January 1st?
Replies: 41
Views: 5153

Re: ROTH IRA Holders: How Many Of You Max Your Contribution On January 1st?

Related question: Assuming that tax advantaged space will be filled by the end of the year in any case, is it better to front-load pre-tax 401k contributions to get the company match or front-load the Roth contribution? If 401K, the company match will have more time in market, but if Roth, after-ta...
by SillyRabbit
Wed Dec 13, 2017 2:17 pm
Forum: Personal Investments
Topic: ROTH IRA Holders: How Many Of You Max Your Contribution On January 1st?
Replies: 41
Views: 5153

Re: ROTH IRA Holders: How Many Of You Max Your Contribution On January 1st?

Related question: Assuming that tax advantaged space will be filled by the end of the year in any case, is it better to front-load pre-tax 401k contributions to get the company match or front-load the Roth contribution? If 401K, the company match will have more time in market, but if Roth, after-tax...
by SillyRabbit
Thu Nov 16, 2017 6:10 pm
Forum: Personal Investments
Topic: Invested more than $5500 in IRA - Help
Replies: 14
Views: 1692

Re: Invested more than $5500 in IRA - Help

you can withdraw the money 5 years after making the contribution Note that this is a gross simplification, as you could be able to withdraw funds sooner if you did a contribution vs a conversion or if your conversion was all after-tax money, but 5 years is the maximum you would have to wait to with...
by SillyRabbit
Thu Nov 16, 2017 6:06 pm
Forum: Personal Investments
Topic: Invested more than $5500 in IRA - Help
Replies: 14
Views: 1692

Re: Invested more than $5500 in IRA - Help

It depends on what your work 401k plan offers. At my job, we get the company match whether we invest in pre-tax 401k or Roth 401k, so it's back to the old question of whether you think you will make more money in retirement than you do now. If so, contribute to Roth 401k. If not, then to pre-tax 401...
by SillyRabbit
Thu Nov 16, 2017 4:30 pm
Forum: Personal Investments
Topic: Invested more than $5500 in IRA - Help
Replies: 14
Views: 1692

Re: Invested more than $5500 in IRA - Help

Sorry, I misread your original post.

Apparently, you can withdraw the excess contributions to avoid the penalty:
https://www.irs.gov/retirement-plans/pl ... ion-limits
by SillyRabbit
Thu Nov 16, 2017 4:17 pm
Forum: Personal Investments
Topic: Invested more than $5500 in IRA - Help
Replies: 14
Views: 1692

Re: Invested more than $5500 in IRA - Help

401k and IRA have separate limits, so you most likely have nothing to worry about. Just make sure that your IRA contributions by themselves do not exceed $5500.
by SillyRabbit
Fri Nov 03, 2017 4:51 pm
Forum: Personal Investments
Topic: Accidentally bought $20,000 worth of I Bonds
Replies: 17
Views: 5588

Re: Accidentally bought $20,000 worth of I Bonds

One other consideration... if the 2nd transaction does go through (even if it is later reversed), is there enough money in the funding account to avoid overdraft issues? That was my thought as well. I'd never have that much cash in my checking account. I had enough to cover the second withdrawal, b...
by SillyRabbit
Fri Nov 03, 2017 3:10 pm
Forum: Personal Investments
Topic: Accidentally bought $20,000 worth of I Bonds
Replies: 17
Views: 5588

Re: Accidentally bought $20,000 worth of I Bonds

On a serious note, here is a quick update after contacting them on the website: Hello, TreasuryDirect accounts are monitored for excess purchases. A report is generated regarding this issue and the account is reviewed. If, after review, it is determined that the purchase was a first offense the purc...
by SillyRabbit
Thu Nov 02, 2017 7:53 pm
Forum: Personal Investments
Topic: Accidentally bought $20,000 worth of I Bonds
Replies: 17
Views: 5588

Re: Accidentally bought $20,000 worth of I Bonds

Sent a message through the Contact us link on site. Let's see what happens.
by SillyRabbit
Thu Nov 02, 2017 7:48 pm
Forum: Personal Investments
Topic: Accidentally bought $20,000 worth of I Bonds
Replies: 17
Views: 5588

Re: Accidentally bought $20,000 worth of I Bonds

I just noticed the transaction and it looks like it already went through. Is there a way to cancel it?
by SillyRabbit
Thu Nov 02, 2017 7:43 pm
Forum: Personal Investments
Topic: Accidentally bought $20,000 worth of I Bonds
Replies: 17
Views: 5588

Accidentally bought $20,000 worth of I Bonds

I accidentally bought $20,000 worth I Bonds recently (I assumed the first $10,000 transaction did not go through, so made a duplicate one). Since $20,000 is over the yearly limit of $10,000, what will happen now? Has anyone encountered this situation before? Am I going to get into trouble because of...
by SillyRabbit
Tue Oct 24, 2017 8:33 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 18112
Views: 2558002

Re: U.S. stocks in freefall

I just returned home from a long weekend in Las Vegas. The blackjack dealers were giving out investment advice. Cab drivers too. And bartenders also. I actually heard one say, "It's different this time." The end is near, I'm sure. I'm officially worried. :shock: I'm not worried for myself, but I'm ...
by SillyRabbit
Fri Oct 20, 2017 10:22 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

Ideally one might aim for a 6% "net" annual CAP rate on rentals. Then adjust for distance ownership costs, property manager, resident manager, rental agent if using a realtor, and so forth. In my experience, when it approaches 4% it is "okay". When it drops below 4% to 3% it's "marginal" because it...
by SillyRabbit
Fri Oct 20, 2017 10:21 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

1850 rent on a 380k property is really really low. Are you renting below market rent? Also, tell us about the house? SF Detached? Age? Area? City? Sqr ft? etc... I added property details to the original post. I do think I am renting below market rate as I have not raised the rent for two years (las...
by SillyRabbit
Fri Oct 20, 2017 10:05 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

To expand a little, you currently make a gross $1850 on a real estate value of $380k. Once you subtract out expenses - taxes, insurance, management, maintenance, repairs, vacancy, etc - it looks like a marginal investment. However you can't realize $380k if you sell. You have to pay commissions, po...
by SillyRabbit
Fri Oct 20, 2017 9:54 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

Ideally one might aim for a 6% "net" annual CAP rate on rentals. Then adjust for distance ownership costs, property manager, resident manager, rental agent if using a realtor, and so forth. In my experience, when it approaches 4% it is "okay". When it drops below 4% to 3% it's "marginal" because it...
by SillyRabbit
Fri Oct 20, 2017 9:37 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

Have you considered that you're also paying down the mortgage, and get a phantom tax deduction? I think I paid down something like $12,000 over 4.5 years, but with recouped depreciation plus all the costs of selling the property, I really have no idea where I would stand if I actually sell :P What ...
by SillyRabbit
Fri Oct 20, 2017 9:34 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

it's on the low end of acceptable but not terrible. I have kept a similar property (ie earns about 0.55% per month) but mine is a much smaller percentage of my net worth. Thanks for the response letsgobobby. I hear all the time about people making a huge profit in terms of rent, but did not find th...
by SillyRabbit
Fri Oct 20, 2017 9:30 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

Retired R/E developer, rental property owner here. You have this well thought out. Awesome. IMHO: 1 The property is not a terrible investment and you should not "just" get rid of it, for that reason alone. The returns are low and you are paying to have it managed. And, you are questioning having it...
by SillyRabbit
Fri Oct 20, 2017 9:11 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

If you factor in repairs and vacancy, your rental property is slightly negative cash-flow. But the appreciation was not bad -- 6%/year. Is this rental in a high demand area? Do you think this will continue? This is not the most desirable area in Southern California, but with the crazy market right ...
by SillyRabbit
Fri Oct 20, 2017 9:01 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Re: Is my rental property worth keeping?

1850 rent on a 380k property is really really low. Are you renting below market rent? Also, tell us about the house? SF Detached? Age? Area? City? Sqr ft? etc... I added property details to the original post. I do think I am renting below market rate as I have not raised the rent for two years (las...
by SillyRabbit
Fri Oct 20, 2017 6:33 pm
Forum: Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 3071

Is my rental property worth keeping?

Hello all, Seeking some advice on my rental property. I initially bought it because I wanted some exposure to real estate but was not yet ready to buy my own home. I have since bought a personal home and probably no longer need this exposure, but am tempted to keep it just to limit my exposure to th...
by SillyRabbit
Wed Aug 30, 2017 4:42 pm
Forum: Personal Investments
Topic: ETF vs index funds for a 3-fund portfolio at Fidelity?
Replies: 13
Views: 2838

Re: ETF vs index funds for a 3-fund portfolio at Fidelity?

Thanks ThriftyPhD. That is a good summary of differences.

Looks like they are pretty similar with maybe ETF's coming out slightly ahead in taxable accounts especially (for the funds above).
by SillyRabbit
Wed Aug 30, 2017 4:22 pm
Forum: Personal Investments
Topic: ETF vs index funds for a 3-fund portfolio at Fidelity?
Replies: 13
Views: 2838

ETF vs index funds for a 3-fund portfolio at Fidelity?

I am having a hard time understanding the pros and cons of ETF's vs index funds. Assuming I am investing at Fidelity, which ones from the choices below are better and why? Fidelity Total Market Index Fund (FSTVX) (0.035%) or iShares Core S&P Total U.S. Stock Market ETF (ITOT) (0.03%) Fidelity Total ...
by SillyRabbit
Tue Aug 29, 2017 11:42 am
Forum: Personal Investments
Topic: Seeking advice on portfolio
Replies: 4
Views: 997

Re: Seeking advice on portfolio

Thanks mega317! I will give this some more thought and will also do some research about HSA strategies. Have not heard anything about this before.
by SillyRabbit
Mon Aug 28, 2017 7:02 pm
Forum: Personal Investments
Topic: Seeking advice on portfolio
Replies: 4
Views: 997

Re: Seeking advice on portfolio

Thanks for the reply mega317! I was wondering why the thread was so mum :) I have added more specific questions in response to your feedback and also listed some of the funds available in 401(k)/HAS. I would max the HSA, making a smaller contribution to the mega back door Roth if needed. Am already ...
by SillyRabbit
Fri Aug 25, 2017 6:38 pm
Forum: Personal Investments
Topic: Seeking advice on portfolio
Replies: 4
Views: 997

Seeking advice on portfolio

Hello all, I am seeking some general advice/opinions on my portfolio. When I first started investing, I did not know much about the market, so most of my savings went to a target fund in a 401K and the rest to a taxable account. At this point, I am trying to create some tax diversification by buildi...