Search found 19 matches

by jjj88
Sat Nov 17, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Switching jobs, any considerations/opportunities I’m missing?
Replies: 0
Views: 152

Switching jobs, any considerations/opportunities I’m missing?

I’m switching jobs (same city, same industry, different company) and will have ~2 months time off in between. I recently learned about the ability to retroactively pay COBRA premiums, which will allow me to avoid paying health insurance premiums during my time off (assuming I don’t get sick or go to...
by jjj88
Mon Nov 12, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Diversifying term life insurance providers
Replies: 12
Views: 772

Re: Diversifying term life insurance providers

Planning to buy ~$8m of term life coverage between both wife and I. Two questions: 1) Does it make sense to buy coverage from more than one insurance provider in order to mitigate counter party risk (i.e. risk that one of the insurers goes bankrupt)? If so, how much diversification makes sense? 2) ...
by jjj88
Sun Nov 11, 2018 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Diversifying term life insurance providers
Replies: 12
Views: 772

Diversifying term life insurance providers

Planning to buy ~$8m of term life coverage between both wife and I. Two questions: 1) Does it make sense to buy coverage from more than one insurance provider in order to mitigate counter party risk (i.e. risk that one of the insurers goes bankrupt)? If so, how much diversification makes sense? 2) P...
by jjj88
Fri Sep 21, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: My 529 strategy....please pick this apart
Replies: 5
Views: 719

Re: My 529 strategy....please pick this apart

mervinj7 wrote:
Fri Sep 21, 2018 1:59 pm
Are you certain that rollovers from Utah's 529 to NY's 529 are eligible for the NY State tax deduction?
Confirmed with representative from Nysaves.org / Vanguard
by jjj88
Fri Sep 21, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: My 529 strategy....please pick this apart
Replies: 5
Views: 719

My 529 strategy....please pick this apart

Quick background...NY State Resident, MFJ, 1 child, Already maxing out tax-advantaged accounts so we would be foregoing investing in taxable accounts in order to invest in 529. My strategy: 1) Wife and I each contribute $5K to NY State 529 plan and $35K to Utah 529 plan right now. This will result i...
by jjj88
Sun Sep 09, 2018 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Super funding 529
Replies: 16
Views: 2053

Re: Super funding 529

FYI - I checked w NYS and a rollover is deductible (assuming the person who answered me is competent). So it appears that the strategy will work
by jjj88
Sat Sep 01, 2018 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Super funding 529
Replies: 16
Views: 2053

Re: Super funding 529

Reviving this thread...can I superfund the 529 by putting $10K into a NYS plan and the remainder in a CA plan. Then every year in the future roll $10K from the CA plan into the NYS plan? This will accomplish both goals: 1) superfunding up front to get more years of tax free gains, and 2) capturing t...
by jjj88
Mon Aug 06, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: understanding term life industry
Replies: 3
Views: 326

understanding term life industry

I'm shopping for term life insurance and have shopped around on term4sale.com (as suggested by Bogleheads). However, this website and invariably others eventually just link me up with an independent agent. It is my (well informed) understanding that these independent agents are paid 60-80% of the ye...
by jjj88
Thu Aug 02, 2018 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Impact of higher property taxes on home price
Replies: 45
Views: 2484

Re: Impact of higher property taxes on home price

If I was selling my house it wouldn't have any impact. You only get to set the asking price, not the selling price. I get to set the minimum price I'm willing to sell for, though, and that's really all that matters. I'm a little confused by this. What if your municipality announced that they were r...
by jjj88
Thu Aug 02, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Impact of higher property taxes on home price
Replies: 45
Views: 2484

Impact of higher property taxes on home price

I'm a potential home buyer in a HCOL area where property taxes run at ~2% of value. So $40K/yr in property taxes for a $2M property. Property tax math pre and post Trump tax plan for a high earner looks something like this: 1) Pre trump tax = $40K taxes * (1 - 39.6% marginal tax rate) = $24.2K prope...
by jjj88
Wed Jun 06, 2018 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Super funding 529
Replies: 16
Views: 2053

Re: Super funding 529

Very helpful mcraepat9. I'm going to run some numbers on pros/cons of superfunding vs. staggering the payments to capture max deductions. This seems to be the main decision I need to make.
by jjj88
Tue Jun 05, 2018 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Super funding 529
Replies: 16
Views: 2053

Super funding 529

I’m planning to superfund a 529 plan once my first child comes along shortly. I’ve read a bunch of other BH posts on 529s but I’d like to quickly run my circumstances and decision by this community to see if I’m missing anything. Quick background: - MFJ, top marginal tax rate in NYC (8.82% state + 3...
by jjj88
Sat Mar 31, 2018 11:14 am
Forum: Personal Finance (Not Investing)
Topic: auto/umbrella insurance agents
Replies: 7
Views: 961

auto/umbrella insurance agents

I've always used State Farm for my insurance but I'm frustrated that recently my premium seems to inflate 5%+ every renewal period. Even more frustrating is shopping around for a new insurance provider -- it's time consuming, requires disclosing information which then leads to spam email/phone calls...
by jjj88
Thu Feb 08, 2018 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy Coverage Amount
Replies: 11
Views: 1147

Re: Umbrella Policy Coverage Amount

Thanks everyone for the replies. LeeMike, it sounds like you were happy with your insurance carrier, is this right? If so, do you mind sharing which carrrier you use?
by jjj88
Thu Feb 08, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy Coverage Amount
Replies: 11
Views: 1147

Umbrella Policy Coverage Amount

I am trying to figure out how much umbrella insurance makes sense for me. Quick background: financially conservative, ~$3M net worth (mostly brokerage accounts), no primary residence, NY State resident. My plan: $5M policy. Rationale: I want to protect against the scenario where I am sued and found ...
by jjj88
Wed Jan 24, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Car buy/lease question
Replies: 8
Views: 999

Car buy/lease question

I’m trying to figure out if I’m better of 1) buying a new car and then trading in the vehicle in 3 years, and then rolling the trade-in value into a new vehicle vs. 2) doing a three year lease and then rolling into a new lease at the end of three years. (I know I’d be better off holding onto the car...
by jjj88
Fri Jan 05, 2018 5:39 pm
Forum: Investing - Help with Personal Investments
Topic: Question re: multiple IRAs
Replies: 2
Views: 282

Question re: multiple IRAs

I have an existing pre-tax IRA with a decent amount of embedded capital gains. I just learned of the backdoor roth IRA as a way to contribute more money to a tax-advantaged savings account. However, I've read that if I make contributions into my existing IRA and then try to roll that into a roth IRA...
by jjj88
Wed Dec 06, 2017 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 27898

Re: Prepayment of SALT Taxes? [State and Local]

Wow thanks for all of the thoughtful replies, this is a great community! I thought my potential strategy was going to be quickly dismissed, but it sounds like there is some debate on here and the rules may be state dependent. I’m going to check with some tax professionals in my state (NY) and will r...
by jjj88
Mon Dec 04, 2017 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 27898

Prepayment of SALT Taxes? [State and Local]

I'm a first time poster and see that speculating on the proposed tax plan is not allowed in this forum because it is not actionable, however my question is related to the actionable strategy of prepaying SALT taxes this year. I hope I am not violating forum rules. I've seen articles that suggest pre...