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slalom

alexL wrote: ↑Sat Jan 02, 2021 1:38 am For reference, here is the latest professional study for the retirement savings by age:

So just to confirm, this study is household not single person?

Makes a huge difference especially for two professionals..

slalom

41, Single, VHCOL (These are all EoY and include home equity) 2001 - ~$0 - broke, just graduated college - no loans but wanted to be in the arts 2002 - ~$0 - making enough to get by, zero savings after rent etc 2003 - “ 2004 - “ 2005 - ~$? - got a job in tech, but it was a small company run by a mis...

slalom

I've been using BoA Cash Rewards for cash back for a long time now. I'd like to upgrade to the BoA Premium Rewards card, but I have such an incredible amount of things tied to auto-pay on my current card, not to mention it takes me about 2 years to memorize all my card info and be able to use it wit...

slalom

I wish the web version wasn’t typically several weeks later.

slalom

Watches are an interesting discussion topic because brands like Rolex and Patek (at least some of their collections) are likely to retain and even grow in value. Many lesser brands will depreciate. A new car will always depreciate. A vintage car you spend quite a bit on but work on yourself to get i...

slalom

thank you both, makes more sense now!

slalom

I realize the personal contribution limit is $19,500 (I do max these days) and my employer does a 50% match up to 6% of income. I realize that's not great terms and plenty of places match 100% up to 6% or even more. But now, the $57,000 combined employee + employer limit. Even if you had 100% match ...

slalom

The big 'unknown' to me is the location and how likely renters are to find the place desirable. I've spent some time at a house in the mountains near Brevard, NC near the Great Smoky Mountains. Very nice, however it didn't seem like an area too bustling with vacationers other than people driving thr...

slalom

I was in nearly the same exact position as you down to the numbers. I made the decision to pay a lump sum at the end of the year from bonus while also increasing my extra principal amount once a year (for the whole year). What seemed like a far away payoff date is starting to feel close now and i do...

slalom

Thank you very much for all the advice and especially ruralavalon for the eye popping reply!

slalom

Do have a strong preference and belief that tilting to one sector is still a good idea? If so, figure out what that tilt should be (whether to technology stocks, or value stocks, or whatever). Otherwise (and this is my suggestion) I think you should consolidate what you have into something resembli...

slalom

Is 401k the only account that you contribute to? No Roth/Trad IRA or Brokerage/after-tax account? I see a VG Tot Bond (VBTLX) and VG Tot Intl Stock (VTIAX). For a total stock for US, VG Inst Index / VG SmallCAp / JPM Mid Cap might all work in some %. I am not an expert on this and hope others will ...

slalom

Hi there - another portfolio thread. I'm afraid I'm not going to fill out the giant recommended template in the sticky but this should be enough: Age: 40 Expected Retirement: ~65-70? State: CA No debt outside mortgage (which will be paid off in 2025) I max out 401k every year now - didn't start cont...

slalom

Age 31, i was absolutely broke until 26.

slalom

For lack of a better term i think the ‘class’ of people that rent varies greatly with location. A renter in an area with cheap homes is much less likely to be financially stable and reliable than e.g. San Francisco. The chances of a professional paying $3500/mo destroying your property or getting ev...

slalom

Single, VHCOL (These are all EoY and include home equity) 2001 - ~$0 - broke, just graduated college - no loans but wanted to be in the arts 2002 - ~$0 - making enough to get by, zero savings after rent etc 2003 - “ 2004 - “ 2005 - ~$? - got a job in tech, but it was a small company run by a miserl...

slalom

Great, thank you!

slalom

The other reason i was confused was in the physicianonfire site (not sure if I can link it here?), there's two different Step 2 sections one for mutual funds and one for brokerages. The former talks about needing to choose a tax year when converting to Roth IRA, the latter (what I"m doing) doe...

slalom

Thanks for the clarifications - I think this is what I did/will do: January 2018 - created traditional IRA account, deposited $5,500 (not sure what tax year, can i find that?), converted to roth IRA January 2019 - deposited $6,000 (this must have been for 2019 tax year since it shows i contributed t...

slalom

Then create your own dividend by selling appreciated shares whenever you feel like it along the way at CG tax rate. Most people probably reinvest them anyway in the company invested if it's a single stock so the "gloom and doom" you mentioned still applies. This reminds me - what I really...

slalom

This is the second year I'll be doing a Backdoor Roth IRA conversion on Vanguard. Some of the 'step by step' sites are now differing quite a bit vs the current prompts that come up when doing so. For example they now have a direct Convert to Roth IRA button on Traditional IRA accounts. Last year I r...

slalom

ohai wrote: ↑Tue Jan 07, 2020 5:48 pm Teachers in Westchester get $100k salaries with tenure?

Now you know why the property taxes are so high.

slalom

Option #1.

I did it last year and will again need to this year.

slalom

I realize this is a vague request but there is always a lot of discussion in the media and punditry about how the super wealthy can hire teams of lawyers to accumulate more money via avoiding taxes and shielding assets etc. but I never see any in-depth discussions about what it is exactly they’re do...

slalom

Not to be flip about the question posed in the subject line - the doubt about that might be that most Bay Area teachers make much less. A quick google says the average is about $70k.

slalom

Also, we transferred some shares from the company custodian to our discount brokerage and sold them from there. Should I just take whatever cost basis numbers I receive from them and proceed with them or do I need to check for any gotchas? If so, what kind of gotchas should I look for? Would apprec...

slalom

I buy-and-hold until ESPP shares are eligible for a qualified disposition. I recently sold a couple years' worth (first time with new company) and searched for information on 2019 tax consequences. I found this link the most useful of the ones I explored: https://financialgeekery.com/2012/05/15/the...

slalom

Admiral wrote: ↑Tue Feb 26, 2019 12:33 pm Current dollars, $120-150k in 8-10 years

Per month, high estimates:

Travel and misc: $5000

$5000/mo for travel and misc?

slalom

I saw a study a few days ago that estimated 10-11 million households will actually see a tax rate increase in 2018 versus 2017 because of the new tax structure. So it's not necessarily all due to withholding issues. This is mostly caused by the SALT $10k deduction limit, and so affects high earners...

slalom

I receive corrected 1099-Bs and such well after filing most years, but never update or amend my return. Two questions i guess.. 1. How often are corrections ‘worth’ bothering with? Theyve seemed minimal to me but maybe if you have huge transactions it can be significant.. 2. Should I feel guilty? Is...

slalom

While it’s true that some teachers are doing quite well, it really depends on the specifics. My mother taught public school in Connecticut for 17 years after being a SAHM until I was 7. She had a masters degree and credits beyond that, so was in a decent level on the pay scale. Then she had to move ...

slalom

If she got a call that fast, she's probably not technically terminated yet, which means she doesn't need to get re-hired?

That would kind of change things, IMO.

slalom

As a single, childless CA homeowner with a ~$750k-ish house, the SALT cap hugely affected me. I lost over $25,000 in deductions and have ended up owing over $6,000 in federal income tax (after usually getting a refund every year). I never re-did my W4 worksheet, assuming that things might come out ...

slalom

As a single, childless CA homeowner with a ~$750k-ish house, the SALT cap hugely affected me. I lost over $25,000 in deductions and have ended up owing over $6,000 in federal income tax (after usually getting a refund every year). I never re-did my W4 worksheet, assuming that things might come out r...

slalom

Rainier wrote: ↑Sun Feb 03, 2019 1:26 pm The CD version, which btw, was $10 less than downloading on Amazon.

Right, yes I use the online version which has more restricted tiers.

slalom

Rainier wrote: ↑Sat Feb 02, 2019 6:25 am Why did you pay for TurboTax Premier?

Deluxe doesn’t import investment account transactions. If you mean why I didn’t use some other service, I like TT. I also get a discount on it from TDA.

slalom

Bummer, thanks for the confirmation!

slalom

My account info does not work in TurboTax's import. I read the fine print after searching 'turbotax import' on the Fidelity site, and it says: "* Not all Fidelity account information can be imported directly into TurboTax. For example, information on institutional retirement plan accounts servi...

slalom

Here's what my company gives within the FAQ...from my understanding is calculated as below. We get a notice email that the max number shares that can be bought for a period is Y, which is the $25k divided by market price on period open. The IRS limits your ESPP purchases to a maximum market value o...

slalom

I have googled and read numerous articles that specifically try to answer this question in them but the details/wording never quite makes sense to me. Is the $25,000 limit on ESPP purchases a limit on: a) how much you can contribute to the plan b) how much you can buy based on the purchase price (in...

slalom

(These are all EoY and include home equity) 2001 - ~$0 - broke, just graduated college - no loans but wanted to be in the arts 2002 - ~$0 - making enough to get by, zero savings after rent etc 2003 - “ 2004 - “ 2005 - ~$? - got a job in tech, but it was a small company run by a miserly CEO. No reco...

slalom

I just read Mark Frost's Secret History of Twin Peaks. It was pretty chilling in parts and kind of fun reading, I have some complaints though. - The early stuff about Lewis & Clark, the fake documents were incredibly hard to read. - There's too many footnotes and they're in some sort of bright p...

slalom

The chances of your phone’s SMS messages being hacked or someone getting a SIM card that steals your phone number are so incredibly small you may as well not consider it just like you don’t plan your life around getting struck by lightning. Your identity being stolen on the other hand is increasingl...

slalom

BTW...an earlier poster who said dog walking....I just had lunch with my old business partner. He told me he knows a guy making $50K/year as a full time dog walker. #wth I know one as well, makes even more from boarding them. He could even afford to hire some additonal people. Tons of upper middle ...

slalom

SALT cap is more meaningful, but let’s do some quick math. For a family earning $300k (state income tax of $20k) and property tax of $20k the change means $30k in newly non-deductible income, which translates into only additional $10k of tax, not a game changer. I’m not even taking into account the...

slalom

I looked in the forum rules and maybe I missed it but I was curious if there was a rule against posting a link to an excel spreadsheet?

I wanted to post in personal finance and get some of the wizards here to double check my math on some things related to financial planning.

slalom

Thanks for all the info and advice so far! One thing to reiterate is that my home was built in 2012 to quite strong EQ codes and is a slab foundation. So I don’t think retrofitting or bolting is applicable/needed. My tentative plan was that I was leaning toward insurance, once it’s paid off (2026). ...

slalom

I thought i looked but apparently i failed. Sorry, this can get deleted if a mod can do so.

slalom

My home in the Bay Area is over 60% of the value of all my assets and it will be paid off in a handful of years. What are your feelings on whether getting insurance from the earthquake authority is a good idea? The house was built in 2012 - so built to modern codes - and is a medium size (1800 sq ft...

slalom

In case it helps anyone else - on Fidelity's platform, there IS an option to 'select specific lots', after which you can choose specific tax lots to apply to your order. I don't see anything like this on TD Ameritrade, at least by default, but Fidelity does have it which is my immediate concern. Tha...

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