Search found 65 matches

by slalom
Tue Sep 17, 2019 4:21 am
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6620

Tax avoidance and estate planning ‘for the rich’?

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...
by slalom
Tue Sep 17, 2019 4:04 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area teacher saving half my income – why the doubt? (and asking more questions)
Replies: 508
Views: 30231

Re: Bay Area teacher saving half my income – why the doubt? (and asking more questions)

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.
by slalom
Sun Mar 03, 2019 4:32 am
Forum: Personal Finance (Not Investing)
Topic: ESPP at tax time
Replies: 8
Views: 866

Re: ESPP at tax time

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...
by slalom
Sun Mar 03, 2019 4:26 am
Forum: Personal Finance (Not Investing)
Topic: ESPP at tax time
Replies: 8
Views: 866

Re: ESPP at tax time

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...
by slalom
Sat Mar 02, 2019 5:21 am
Forum: Personal Finance (Not Investing)
Topic: If you currently or are planning to spend over $120k/year in retirement, what is your projected budget?
Replies: 196
Views: 15757

Re: If you are currently or planning to spend over $120k/year in retirement, what is your projected budget?

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?
by slalom
Sat Mar 02, 2019 5:12 am
Forum: Personal Finance (Not Investing)
Topic: Trying to understand how I got hit with such a big amount in taxes owed
Replies: 40
Views: 5890

Re: Trying to understand how I got hit with such a big amount in taxes owed

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...
by slalom
Thu Feb 14, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Filing taxes ASAP and ignoring corrected forms?
Replies: 9
Views: 827

Filing taxes ASAP and ignoring corrected forms?

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...
by slalom
Thu Feb 07, 2019 3:03 am
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 191
Views: 30708

Re: Teachers Who Have Net Worth of $1 million +

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 ...
by slalom
Wed Feb 06, 2019 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 109
Views: 12221

Re: Need Help - DW Laid Off and Company wants her back now

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.
by slalom
Wed Feb 06, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: CA homes and new SALT limits
Replies: 48
Views: 5906

Re: CA homes and new SALT limits

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 ...
by slalom
Wed Feb 06, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: CA homes and new SALT limits
Replies: 48
Views: 5906

Re: CA homes and new SALT limits

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...
by slalom
Mon Feb 04, 2019 4:14 pm
Forum: Personal Investments
Topic: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP
Replies: 9
Views: 1910

Re: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP

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.
by slalom
Sun Feb 03, 2019 1:44 am
Forum: Personal Investments
Topic: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP
Replies: 9
Views: 1910

Re: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP

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.
by slalom
Thu Jan 31, 2019 9:32 pm
Forum: Personal Investments
Topic: TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP
Replies: 9
Views: 1910

TurboTax Premier appears to not be able to import Fidelity brokerage account documents related to ESPP

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 serviced b...
by slalom
Fri Jan 25, 2019 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP limitation - purchase price or market price?
Replies: 4
Views: 301

Re: ESPP limitation - purchase price or market price?

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...
by slalom
Fri Jan 25, 2019 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP limitation - purchase price or market price?
Replies: 4
Views: 301

ESPP limitation - purchase price or market price?

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...
by slalom
Sun Jan 06, 2019 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1092
Views: 308759

Re: Share your net worth progression

(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...
by slalom
Mon Sep 17, 2018 7:27 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 4128
Views: 1177102

Re: What Book Are You Currently Reading? Part VI

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 pink/...
by slalom
Mon Sep 17, 2018 12:35 am
Forum: Personal Investments
Topic: How real is cyber risk?
Replies: 176
Views: 13318

Re: How real is cyber risk?

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...
by slalom
Sat Sep 15, 2018 3:43 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Options/Suggestions.
Replies: 99
Views: 12407

Re: Side Hustle Options/Suggestions.

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 ...
by slalom
Mon Sep 10, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Bay Area housing frenzy cooling
Replies: 120
Views: 19629

Re: Bay Area housing frenzy cooling

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...
by slalom
Sun Sep 09, 2018 12:46 am
Forum: Forum Issues and Administration
Topic: Posting spreadsheets?
Replies: 5
Views: 1372

Posting spreadsheets?

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.
by slalom
Tue Jul 17, 2018 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: California Homeowners - Do you have earthquake insurance?
Replies: 21
Views: 2544

Re: California Homeowners - Do you have earthquake insurance?

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). ...
by slalom
Mon Jul 16, 2018 5:08 am
Forum: Personal Finance (Not Investing)
Topic: California Homeowners - Do you have earthquake insurance?
Replies: 21
Views: 2544

Re: California Homeowners - Do you have earthquake insurance?

I thought i looked but apparently i failed. Sorry, this can get deleted if a mod can do so.
by slalom
Mon Jul 16, 2018 4:37 am
Forum: Personal Finance (Not Investing)
Topic: California Homeowners - Do you have earthquake insurance?
Replies: 21
Views: 2544

California Homeowners - Do you have earthquake insurance?

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...
by slalom
Thu Jul 05, 2018 4:03 pm
Forum: Personal Investments
Topic: How to sell shares purchased at different times?
Replies: 5
Views: 688

Re: How to sell shares purchased at different times?

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...
by slalom
Thu Jul 05, 2018 7:17 am
Forum: Personal Investments
Topic: How to sell shares purchased at different times?
Replies: 5
Views: 688

Re: How to sell shares purchased at different times?

jwkde wrote:
Thu Jul 05, 2018 7:04 am
Fidelity Net Benefits - is that a retirement (401k) account? if so cost basis does not matter
The 401k is on that site too but no I am talking about the ESPP which is just deposited in a normal brokerage account.

Sounds like I need to look up Specific ID/Cost basis options.
by slalom
Thu Jul 05, 2018 4:12 am
Forum: Personal Investments
Topic: How to sell shares purchased at different times?
Replies: 5
Views: 688

How to sell shares purchased at different times?

I've done some looking around on the 2 trade platforms relevant for me (TDAmeritrade/ThinkOrSwim, and Fidelity NetBenefits) and can't really figure this out. If you have shares of the same stock, bought at different times (thus with a different cost basis) - how do you sell an 'old' share vs a 'new'...
by slalom
Sat Jun 23, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes from dividends getting high.. how to handle?
Replies: 24
Views: 3111

Re: Taxes from dividends getting high.. how to handle?

Thank you all for all the great responses and ideas. I don't want to respond individually to them all and have the thread get chaotic, however I did want to address a couple things: Regarding a tax refund - Yes as I've gotten more bogleheady I have considered changing withholding to avoid a refund, ...
by slalom
Fri Jun 22, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes from dividends getting high.. how to handle?
Replies: 24
Views: 3111

Taxes from dividends getting high.. how to handle?

I'm at the point where my dividend yields are substantial (and growing) every year. Every platform I can, I re-invest dividends - including taxable accounts. The taxes required from them are starting to lower my tax refund every year to the point that soon I'll be owing at EoY.. I'm imagining into t...
by slalom
Wed Jun 20, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 505
Views: 134149

Re: Anyone regret paying off mortgage early?

I use the exact same spreadsheet. I always adjust the principal amount each time I make a payment. Do you use the snowflake method? I have never seemed to really understand how to use that. Any insights? I just found it easier to adjust the principal amount. Here's the one I meant - sorry if this i...
by slalom
Wed Jun 20, 2018 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 505
Views: 134149

Re: Anyone regret paying off mortgage early?

I use the exact same spreadsheet. I always adjust the principal amount each time I make a payment. Do you use the snowflake method? I have never seemed to really understand how to use that. Any insights? I just found it easier to adjust the principal amount. Actually, I apologize, I just realized t...
by slalom
Wed Jun 20, 2018 5:36 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 505
Views: 134149

Re: Anyone regret paying off mortgage early?

I’m now on my ‘pay it off’ path, age 38. Got a 30 year fixed in 2012 for $400k @ 3.75%. At $325k now.. I’ve increased my extra monthly mortgage payment every year and plan to do it into the future. I also pay a large bonus % at EoY. There is a great extra payments spreadsheet on Vertex42 that has ev...
by slalom
Sat Mar 03, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP - treating tranches differently?
Replies: 4
Views: 564

Re: ESPP - treating tranches differently?

You make some really good points! I’m still trying to decide.

I’m glad it’s possible to separate out the shares. I had never really thought about needing to do that before.
by slalom
Fri Mar 02, 2018 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP - treating tranches differently?
Replies: 4
Views: 564

ESPP - treating tranches differently?

My company has an ESPP (15% discount with lookback, 6 month periods, 10% of salary max). My setup had been to be putting in the maximum of 10% then selling for the minimum ~18% gain immediately when I can. I know that's the recommended plan by basically everyone, but since I'm planning on staying he...
by slalom
Thu Feb 22, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: Capital One now at 1.85 [Money Market Rate To 1.85% APY]
Replies: 57
Views: 8774

Re: Capital One 360 Money Market now at 1.5%

I recently moved my emergency fund savings account to one ($30,000). I'm such a poor boglehead that I had it in the non-money market savings version they offer, getting 0.6% or something, and never really checked up on it. If you'd really checked up on it you might have noticed that the (regular) s...
by slalom
Wed Feb 21, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off $372000 mortgage in 12 months
Replies: 46
Views: 8270

Re: Paying off $372000 mortgage in 12 months

chevca wrote:
Tue Feb 20, 2018 8:00 am
Nope, over $150k income/AGI there's no deductions allowed.
Say what? My AGI is over that and I just had about $35k in deductions including $11k mortgage interest.

Are you talking about rental property mortgages specifically or something? Not sure about those.
by slalom
Wed Feb 21, 2018 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Capital One now at 1.85 [Money Market Rate To 1.85% APY]
Replies: 57
Views: 8774

Re: Capital One 360 Money Market now at 1.5%

I recently moved my emergency fund savings account to one ($30,000). I'm such a poor boglehead that I had it in the non-money market savings version they offer, getting 0.6% or something, and never really checked up on it. Of course, the exact same account in the early 2000s was an ING savings accou...
by slalom
Mon Feb 19, 2018 3:33 am
Forum: Personal Finance (Not Investing)
Topic: I think we can swing this! ($1M retirement home)
Replies: 27
Views: 3863

Re: I think we can swing this! ($1M retirement home)

$72k/year pension on top of all the rest is just rubbing it in!

Congrats on the house-to-be :D
by slalom
Thu Feb 08, 2018 5:56 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in free fall
Replies: 12343
Views: 2132669

Re: U.S. stocks in freefall

We are still nearly 20% above the 52-week low.
by slalom
Fri Feb 02, 2018 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Car Lease -- High Residual Value -- what am I missing?
Replies: 49
Views: 6166

Re: Car Lease -- High Residual Value -- what am I missing?

You haven’t even said how much the lease costs (down + monthly), so it’s hard to say much. I question the need for such a high end vehicle that you will almost never drive. If you live in the city and don’t normally drive, having a fancy car you start feeling like you have to drive because you’re pa...
by slalom
Fri Feb 02, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?
Replies: 52
Views: 15569

Re: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?

Mint is a flawless service in my opinion, except for the ‘Investments’ section which is garbage and useless. Most of the supposed shortcomings mentioned here and elsewhere are just people not knowing fully how to use it or not realizing it’s changed since a decade ago or whatever. The fact that it’s...
by slalom
Fri Feb 02, 2018 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP - how much extra cash to keep around to cover the smaller paycheck and when?
Replies: 6
Views: 816

Re: ESPP - how much extra cash to keep around to cover the smaller paycheck and when?

sounds like you have a more significant issue here- If I am reading correct it sounds like even before enrollment in ESPP your monthly income is just barely enough to cover fixed expenses (i.e. very little margin for savings). If so you might also want to think about what you can trim spending? I c...
by slalom
Fri Feb 02, 2018 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Updates...
Replies: 16
Views: 3065

Re: Social Security Updates...

One thing these 14-16 year break even calculations never seem to consider is that not only does it take that long to get back the income you lost by not taking SS, it doesn’t include the 14-16 years you could’ve compounded investment gains of various types. Hundreds of thousands of dollars of invest...
by slalom
Fri Feb 02, 2018 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this house?
Replies: 50
Views: 5797

Re: Can I afford this house?

You could also think about storage units and cheap co-working office space to declutter and work elsewhere. It’s certainly cheaper and less of a commitment than a huge mortgage. If the condo is actually very very small, then it might be true that you will need more space. You could get a 3 BR townho...
by slalom
Fri Feb 02, 2018 4:51 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this house?
Replies: 50
Views: 5797

Re: Can I afford this house?

You did the numbers yourself, yes you can technically afford it. However you're already in a really good position. You own a home in the peninsula at a low carrying cost, which is a position many people would literally kill to be in. You already have a second bedroom and the kids can bunk. A lot of ...
by slalom
Fri Feb 02, 2018 3:38 am
Forum: Personal Finance (Not Investing)
Topic: ESPP - how much extra cash to keep around to cover the smaller paycheck and when?
Replies: 6
Views: 816

ESPP - how much extra cash to keep around to cover the smaller paycheck and when?

Hi all - I've read a bunch of threads about ESPP (mostly 'should I or shouldn't I?' threads) with all different sorts of situations. I'm fairly sure about my plan regarding participating my company's ESPP, which starts this April. I can invest up to 10% of my base salary, and it has a 15% discount a...
by slalom
Tue Jan 30, 2018 6:12 am
Forum: Investing - Theory, News & General
Topic: When did the bad news start in 2008?
Replies: 135
Views: 15612

Re: When did the bad news start in 2008?

Juice3 wrote:
Tue Jan 30, 2018 5:40 am
I *knew* it was bad when ...

MegaCorp CFO sent an email to all employees asking them reduce use of printers
Similar thing here - when the free vending machines were no longer free :D
by slalom
Tue Jan 30, 2018 4:37 am
Forum: Investing - Theory, News & General
Topic: When did the bad news start in 2008?
Replies: 135
Views: 15612

Re: When did the bad news start in 2008?

Absolutely amazing posts in this thread! Hard to believe this is free :)