Search found 99 matches

by luminous
Wed Nov 07, 2018 5:28 am
Forum: Personal Finance (Not Investing)
Topic: How much money did you receive from family? (Gifts/inheritance)
Replies: 46
Views: 4391

Re: How much money did you receive from family? (Gifts/inheritance)

I received a $1000 gift from my grandfather to help pay for college. I put myself through school other than that gift, and left college with a lot of debt. I have given my parents “loans” that were never repaid over the years. I have not received any inheritances or gifts since. My divorced parents ...
by luminous
Thu Oct 11, 2018 4:06 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor roth /Rollover IRA Mess
Replies: 8
Views: 925

Re: Backdoor roth /Rollover IRA Mess

If you rolled the entire traditional part to a TIRA then converted the after-tax part, then yes you'll have a pro-rata mess. Agreed. It hinges on what you mean by “Post tax was converted to roth IRA in fidelity via backdoor.” That’s an odd phrasing and I can’t quite tell what you did. By the way, t...
by luminous
Sun Oct 07, 2018 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Need pretty much all kinds of advice
Replies: 7
Views: 804

Re: Need pretty much all kinds of advice

Welcome and I’m sorry for your loss. Using the Vanguard personal finance advisory plan sounds like a great idea. They will be able to talk to you about your goals and options. I agree with ExitStageLeft: don’t be hasty, but don’t wait too long on that Exxon stock. I’d define “too long” as, say, 6 mo...
by luminous
Sun Oct 07, 2018 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth: Confirmation of 401k Plan Language
Replies: 5
Views: 409

Re: Mega Backdoor Roth: Confirmation of 401k Plan Language

1) Does this 401k plan have the key features for doing the mega backdoor? Yup! 2) Can one do the “Roth In-Plan Conversion” instead of “Withdrawal of After-Tax Contributions”, and if so, is one better than the other? If using the “withdrawal” option, is that where one would then “withdraw into” a Ro...
by luminous
Thu Oct 04, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: How many months/years of living expenses do you save each year?
Replies: 29
Views: 3490

Re: How many months/years of living expenses do you save each year?

We are saving about 1x current living expenses this year but there are two important caveats: 1) Health insurance costs paid by my employer are not being counted as a living expense but for the purposes of this exercise they should be. 2) I may have under or over withheld on taxes because of the tax...
by luminous
Thu Sep 27, 2018 11:04 pm
Forum: Investing - Theory, News & General
Topic: I'm switching to Vanguard (yay!). Is it an easy transfer?
Replies: 16
Views: 1464

Re: I'm switching to Vanguard (yay!). Is it an easy transfer?

Why are you and others mailing in paperwork? Every brokerage transfer I've done in the last 10 years, including to Vanguard, involved only online forms. The only paper forms we had to send to Vanguard were our notarized and witnessed full agent authorization forms. Because Vanguard made us. I just ...
by luminous
Tue Sep 25, 2018 8:59 am
Forum: Investing - Help with Personal Investments
Topic: Can I construct a three-fund portfolio given my 401k choices?
Replies: 3
Views: 396

Re: Can I construct a three-fund portfolio given my 401k choices?

butforwales wrote:
Mon Sep 24, 2018 10:03 pm
Tax Filing Status: Married Filing Jointly
Tax Rate: 25% Federal, 8% State
State of Residence: CA
Hello! Small note, if you are in the 8% bracket in CA then for 2018 you are probably in the 12% federal bracket. In any case the 25% federal bracket doesn’t exist anymore.
by luminous
Mon Sep 24, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate a pay package of a startup
Replies: 14
Views: 1448

Re: How to evaluate a pay package of a startup

If the startup is in the tech business and has venture funding then you should be offered market rate salary. The stock options are obviously harder to evaluate. Startup vs established company is almost a lifestyle choice. Lots of folks burnout at startups because they ask so much of their employees.
by luminous
Mon Sep 24, 2018 12:46 am
Forum: Investing - Help with Personal Investments
Topic: Review my IPS
Replies: 13
Views: 1765

Re: Review my IPS

Welcome! [*]Become financially independent by 45 [*]Have a long enough safety net that short term market changes don't scare me [*]Have two years of reasonable expenses including food and rent available in cash or cash-like safety. [*]This is a fixed amount instead of a fixed percentage. It is in ad...
by luminous
Mon Sep 24, 2018 12:28 am
Forum: Investing - Help with Personal Investments
Topic: figuring out my 401k investments
Replies: 6
Views: 631

Re: figuring out my 401k investments

Hello! Here is a link to more information about the backdoor roth ira: https://www.bogleheads.org/wiki/Backdoor_Roth_IRA

I also highly encourage you to invest in a backdoor roth ira, which is a way to get around the income limitations of the roth ira.
by luminous
Thu Sep 20, 2018 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Roth Income Limit
Replies: 9
Views: 893

Re: Roth Income Limit

I am in this situation. I’m close enough to the limit that I did a Backdoor Roth rather than a direct Roth contribution. That way no matter how my income for the rest of the year turns out I will not have broken any rules.
by luminous
Thu Sep 13, 2018 9:46 am
Forum: Personal Consumer Issues
Topic: Ready to buy iPhone 8 now, but..
Replies: 39
Views: 3453

Re: Ready to buy iPhone 8 now, but..

It's about $600 now for the 64 GB version. Is this the best price I can hope for, or wait some more? That's likely the best price for at least another year. I think the 64GB 8 is one of the best bang for your buck buys in the current model line. I came to the same conclusion and upgraded to the 8 f...
by luminous
Mon Sep 10, 2018 10:06 am
Forum: Personal Consumer Issues
Topic: Ready to buy iPhone 8 now, but..
Replies: 39
Views: 3453

Re: Ready to buy iPhone 8 now, but..

If you are buying new, there won't be much/any discount for an iPhone 8 when the new series of iPhones come out. Apple just doesn't really do discounts. That’s not historical true. The price on brand new older generation iPhones have consistently gone down when new generations of phones are release...
by luminous
Thu Sep 06, 2018 2:54 am
Forum: Investing - Help with Personal Investments
Topic: Complete Beginner Advice
Replies: 26
Views: 2151

Re: Complete Beginner Advice

( (Btw is there anything wrong with have a Target Retirement Fund in BOTH my 401k and Roth IRA?) ) Not at all. That’s really how target date funds are designed to be used: in all of your retirement accounts. And as to the American Funds, I still need to figure out what the best course of action is....
by luminous
Mon Sep 03, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Help make me more employable
Replies: 18
Views: 2603

Re: Help make me more employable

One of the best ways to answer these questions is to do informational interviews with people who have the kinds of jobs you'd want to have in a few years. Find those folks, ask them for 30-45 minutes of their time, buy them a coffee, and ask them: what their jobs are like, the most important skills,...
by luminous
Sun Sep 02, 2018 12:04 am
Forum: Investing - Help with Personal Investments
Topic: Complete Beginner Advice
Replies: 26
Views: 2151

Re: Complete Beginner Advice

A) Put $5500 in a Roth IRA towards a Vanguard Total Bond Market Index Fund and put the remaining $14, 500 (or whatevers left after taxes) into a Vanguard Total Stock Market Index Fund & Vanguard Total International Stock Market Fund in a taxable accout. This is definitely what I'd do. I'll put in a...
by luminous
Sat Aug 25, 2018 6:55 pm
Forum: Personal Consumer Issues
Topic: Ladies: bra shopping question
Replies: 63
Views: 8802

Re: Ladies: bra shopping question

In recent years I have really liked these Uniqlo bras: https://www.uniqlo.com/us/en/women/bras ... -soft-bras
by luminous
Thu Aug 23, 2018 9:16 am
Forum: Investing - Help with Personal Investments
Topic: New Job - Advise on portfolio (28 y/o HCOL couple)
Replies: 6
Views: 834

Re: New Job - Advise on portfolio (28 y/o HCOL couple)

This wiki page describes the mechanics of the Backdoor Roth IRA in detail: https://www.bogleheads.org/wiki/Backdoor_Roth_IRA

To answer your other question: your wife does have to open a new fresh IRA.
by luminous
Wed Aug 22, 2018 12:25 am
Forum: Investing - Help with Personal Investments
Topic: retirement calculator
Replies: 6
Views: 860

Re: retirement calculator

This page on the wiki has many calculators. I think the Personal Finance Toolkit spreadsheet may be what fits your needs best. https://www.bogleheads.org/wiki/Tools_and_calculators
by luminous
Fri Jul 27, 2018 5:26 pm
Forum: Investing - Help with Personal Investments
Topic: New Member - Help Wanted
Replies: 23
Views: 2088

Re: New Member - Help Wanted

This plan looks great! I know of nothing you should keep in mind for timings.

IPS stands for investment policy statement. https://www.bogleheads.org/wiki/Investm ... _statement
by luminous
Thu Jul 26, 2018 8:46 am
Forum: Investing - Help with Personal Investments
Topic: New Member - Help Wanted
Replies: 23
Views: 2088

Re: New Member - Help Wanted

It seems I was attempting to achieve a diverse asset allocation in EACH of my accounts, but instead I should aim to achieve that desired allocation across ALL accounts - is that right? That’s right, as long as all of your accounts are for the same purpose. For example, if you are saving money for t...
by luminous
Wed Jul 25, 2018 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Should I contribute to both Roth & Traditional?
Replies: 7
Views: 813

Re: Should I contribute to both Roth & Traditional?

Welcome to the forum! If filing single, total income of $53k after standard deduction yields a taxable income of $41k. That puts you in the 22% bracket. https://taxfoundation.org/2018-tax-brackets/ Thanks for the response. Wouldn't my standard deduction be $6,300, rather than $12,700 for joint file...
by luminous
Wed Jul 25, 2018 12:20 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review & Feedback - Help Needed!
Replies: 15
Views: 1444

Re: Portfolio Review & Feedback - Help Needed!

Welcome! You really seem to have done very well, saved and invested a lot and you have a plan. Something that isn't clear to me is your cost of living, which makes it hard to comment on if your current asset allocation matches your need or willingness to take risks to meet your spending needs in ret...
by luminous
Tue Jul 17, 2018 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Assessment
Replies: 11
Views: 1363

Re: Personal Finance Assessment

As another example, there was one forum (that I can't remember now) that people would post all of their financial info and people would chime in with thoughts and advice. Even something like that would be helpful. That would be a Portfolio Question post, there is more detail here: https://www.bogle...
by luminous
Sun Jul 15, 2018 10:28 pm
Forum: Investing - Help with Personal Investments
Topic: Grade my portfolio please, newbie here
Replies: 9
Views: 1004

Re: Grade my portfolio please, newbie here

Hello and welcome! To get more of your bonds into the 401k, consider choosing a JP Morgan smart retirement fund that is for a different year. Perhaps 2030. This is what I've done to increase bond holdings in my tax-advantaged accounts and keep bonds out of my taxable account. Proposed portfolio: 55 ...
by luminous
Sat Jul 14, 2018 8:23 am
Forum: Investing - Help with Personal Investments
Topic: Thoughts on Switching to Target Retirement Funds
Replies: 15
Views: 2320

Re: Thoughts on Switching to Target Retirement Funds

Thinking of this simple setup. The TSP 2050 is more conservative at 82/18 AA and VG 2050 is 90/10. Thinking out loud here but wouldn't I want the AA the same on both the TSP and VG funds? The VG 2040 is the closest with 85/15. Roth and SEP for mine and hers- VG TR 2050 401K (TSP) mine and hers- Lif...
by luminous
Fri Jul 13, 2018 8:06 am
Forum: Investing - Theory, News & General
Topic: Saving 20% of paycheck isn't enough
Replies: 112
Views: 14487

Re: Saving 20% of paycheck isn't enough

You seem to be mixing several things together. The standard rule of thumb to save 20% also assumes retiring at 65 and taking social security immediately. This scenario isn’t not uncommon for Americans overall. It should be no surprise that the standard rule of thumb is overly simplistic and doesn’t ...
by luminous
Fri Jul 13, 2018 12:32 am
Forum: Investing - Help with Personal Investments
Topic: Thoughts on Switching to Target Retirement Funds
Replies: 15
Views: 2320

Re: Thoughts on Switching to Target Retirement Funds

I also have a mix of accounts including taxable, TSP, Roth, and 401ks. The total is just above $1M. I have opted for target date funds in the retirement accounts and Vanguard Total International plus Vanguard Total Stock Market in the taxable account. Target allocation is 45/25/30 US stock/internati...
by luminous
Thu Jul 12, 2018 8:30 am
Forum: Investing - Help with Personal Investments
Topic: What to do with "Extra" money:
Replies: 8
Views: 956

Re: What to do with "Extra" money:

Obvious choices are to increase donations or place it into our current allocation plan at appropriate percentages. Are there other suggestions? Those are great choices. You could also increase the down payment on the new home to have a smaller mortgage, unless you expect to be able to buy the small...
by luminous
Sat Jun 30, 2018 11:00 pm
Forum: Investing - Help with Personal Investments
Topic: Capital One Investing Changing to E-Trade - Anyone Moving?
Replies: 13
Views: 6210

Re: Capital One Investing Changing to E-Trade - Anyone Moving?

It turns out there is just enough time left to buy up some partial shares through the old Sharebuilder Plan and avoid some of this problem, so I'm doing that. There are a few high cost stocks where I own almost an entire share (for example .99 of a share). Buying up to slightly over a full share wil...
by luminous
Sat Jun 30, 2018 1:40 am
Forum: Investing - Help with Personal Investments
Topic: Capital One Investing Changing to E-Trade - Anyone Moving?
Replies: 13
Views: 6210

Re: Capital One Investing Changing to E-Trade - Anyone Moving?

I'm pretty disappointed about the fractional share forced sales, avoiding that was the only reason I wasn't leaving Capital One before now. I too used Sharebuilder to learn more about investing, and these fractional share sales will result in some unwanted taxes. The "move or be moved" date is Augus...
by luminous
Tue Jun 26, 2018 2:00 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

Hello! Your plan makes sense, in that I don't see anything that isn't allowed. However, that is a lot of Roth and post-tax contributions and no tax deductible contributions. I don't know what your ultimate plans are for this money, but if you have that much income you might consider sheltering some ...
by luminous
Thu Jun 07, 2018 6:33 am
Forum: Investing - Help with Personal Investments
Topic: 401k Setup Advice/Guidance
Replies: 11
Views: 785

Re: 401k Setup Advice/Guidance

Welcome! There are many reasonable options as others have said. I personally think your initial choices are overly complex. I’d not bother with the 6% bonds at all, your time horizon is long and 6% bonds won’t make any difference to your returns and only serves to make your asset allocation more com...
by luminous
Wed Jun 06, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to figure out whether spouse should try to get 40 SS credit
Replies: 8
Views: 753

Re: Trying to figure out whether spouse should try to get 40 SS credit

Don’t forget about the work requirements for social security disability benefits: https://www.ssa.gov/planners/disability/qualify.html#anchor2 If your spouse isn’t working then you probably can’t insure them for disability on the private market, and they may not be eligible for social security disab...
by luminous
Tue Jun 05, 2018 11:01 pm
Forum: Investing - Help with Personal Investments
Topic: Boglehead Expertise Wanted (& Appreciated!)
Replies: 15
Views: 1849

Re: Boglehead Expertise Wanted (& Appreciated!)

IRA - $140k I have a rollover traditional IRA that I just moved to Vanguard. Currently its comprised of a bunch of stocks that my broker had picked for me; I plan to move that into Vanguard funds. I will contribute $5,500 into this in 2018; I do not qualify for a Roth IRA due to my income. This wil...
by luminous
Tue Jun 05, 2018 5:16 am
Forum: Investing - Help with Personal Investments
Topic: Beginning investor - guidance requested
Replies: 21
Views: 2070

Re: Beginning investor - guidance requested

Hello! I definitely agree that the first thing to focus on is maximizing your retirement tax shelters: 401k and Roth IRA. In your shoes I’d select a target date fund for all my retirement accounts (in fact that’s what I’ve done for real). For me the advantage of a target date fund is it strongly dis...
by luminous
Sun Jun 03, 2018 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: What is your Take Home Pay / Gross Pay ratio?
Replies: 89
Views: 8223

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

take home/gross = 37%

I am maxing out pre-tax 401k and mega backdoor Roth, and I have a small FSA contribution as well.
by luminous
Sat Jun 02, 2018 3:38 pm
Forum: Investing - Help with Personal Investments
Topic: Thanks Bogleheads - Mega Backdoor Roth FTW
Replies: 25
Views: 2565

Re: Thanks Bogleheads - Mega Backdoor Roth FTW

I'm also grateful to this forum for teaching me about the backdoor Roth and mega backdoor Roth. Just this year we tipped into backdoor Roth income territory, and I saw it coming and was able to move an old rollover IRA into my 401k in preparation. And my new employer offers all the right 401k option...
by luminous
Mon May 28, 2018 4:44 pm
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund Alternatives
Replies: 16
Views: 1794

Re: Emergency Fund Alternatives

My emergency fund is in individual $1000 I Bonds. I am not yielding over 5%, but I am keeping up with inflation and deferring taxes. They are all over a year old, and some are over 5 years old, so I could withdraw with no or minimal penalties. I count the balance towards the fixed income/bond portio...
by luminous
Sat May 26, 2018 5:47 pm
Forum: Personal Consumer Issues
Topic: Please help with grocery budget
Replies: 51
Views: 4701

Re: Please help with grocery budget

Without knowing exactly how much of that $1300 is being spent on what it is hard to give guidance. The steak and seafood are expensive sources of protein and calories, consider having meat at fewer meals or reducing portion sizes to more of a side dish. Beans, quinoa, and cheese are less expensive p...
by luminous
Mon Apr 16, 2018 10:19 pm
Forum: Investing - Help with Personal Investments
Topic: Need help on short term investment
Replies: 2
Views: 327

Re: Need help on short term investment

Hello! Car: If you think you'll need money for a car in the next year you should absolutely keep that money in cash, money market account, or similar. Emergency Fund: I'd get specific about how much money you need for your emergency fund. 3-6 months worth of living expenses is typical, but it is a p...
by luminous
Fri Apr 13, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Could you support family on 1 income?
Replies: 88
Views: 7050

Re: Could you support family on 1 income?

In 2001, my wife and I were considering me becoming a SAHD (Stay At Home Dad). We figured that with the reduced childcare costs, we could just manage it, but we expected that we'd have to be aware of costs. Shortly afterwards, with the freedom to accept a business trip when necessary, with the free...
by luminous
Sun Apr 01, 2018 1:00 am
Forum: Personal Finance (Not Investing)
Topic: IRS free fillable form: confirmation of scheduled withdrawal?
Replies: 7
Views: 735

Re: IRS free fillable form: confirmation of scheduled withdrawal?

I don’t know of a way to double check, sorry. I assume you logged in again to see if the date shows up anywhere in the interface now. For what it is worth, I’ve been filing my federal taxes with IRS free fillable forms for years and when I owe the money alway is withdrawn on schedule. And of course ...
by luminous
Thu Mar 29, 2018 1:12 am
Forum: Investing - Help with Personal Investments
Topic: Freshly Minted Boglehead
Replies: 17
Views: 1649

Re: Freshly Minted Boglehead

Welcome to the forum! Thank you for your service. Your story was inspiring, and it sounds like you have things very well figured out for now.

I was surprised to see that you’ve already started a 529, but maybe kids aren’t too far off. I also liked BigOldBear‘s suggestions.
by luminous
Wed Mar 28, 2018 12:47 am
Forum: Personal Finance (Not Investing)
Topic: FERS refund form SF3106, how to fill out?
Replies: 4
Views: 633

Re: FERS refund form SF3106, how to fill out?

Sorry, I don’t know if interest only accrues after a year or not. The TSP form isn’t particularly onerous though. I called Vanguard today and they are having me mail them the entire SF3106 so they can fill out their section. I’ll have them mail it back to me then I’ll send the whole thing off to the...
by luminous
Tue Mar 27, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: FERS refund form SF3106, how to fill out?
Replies: 4
Views: 633

Re: FERS refund form SF3106, how to fill out?

Everything you've done so far makes sense to me. I'm about to do this myself, and am also wondering about the Vanguard portion of your questions.

You don't have to fill out the Payment Instructions or Direct Deposit sections.

This should be a tax free event.
by luminous
Thu Mar 08, 2018 12:12 am
Forum: Investing - Help with Personal Investments
Topic: Seeking portfolio advice!
Replies: 30
Views: 2553

Re: Seeking portfolio advice!

I did want to chime in to disagree with luminous's comment on the HSA: 2. We used HSA to pay for medical costs of birth/delivery of our first kid and plan to do so again for our second because we have so many monthly expenses (rent, childcare, parents, etc). I have read that many BH on the forum si...
by luminous
Wed Mar 07, 2018 12:58 am
Forum: Investing - Help with Personal Investments
Topic: Seeking portfolio advice!
Replies: 30
Views: 2553

Re: Seeking portfolio advice!

Thank you for answering all my questions, luminous! If you have children or if they were young at the time when you decided to put money for house down payment into the stock market, how has it been in your personal experience, practically and financially speaking? Have you thought about restarting...
by luminous
Tue Mar 06, 2018 12:14 am
Forum: Investing - Help with Personal Investments
Topic: Just out of college, new job w/ 401k
Replies: 18
Views: 1653

Re: Just out of college, new job w/ 401k

Thanks for the replies so far everybody! I see a consensus so far to invest in the Vanguard international fund, and create my own Domestic fund through small/mid/large cap options. I will definitely be looking more into this and this is along the lines of what I had in mind. I do agree with you Nat...
by luminous
Tue Mar 06, 2018 12:12 am
Forum: Investing - Help with Personal Investments
Topic: Seeking portfolio advice!
Replies: 30
Views: 2553

Re: Seeking portfolio advice!

1. Since our previous house money is now in a Vanguard taxable account, we plan to leave it there for at least 4-5 years. If the market does well in 4-5 years and we find a well-suited house to buy, then we may withdraw from it for down payment. If no opportunity comes up or the account lose too mu...