Search found 31 matches

by Jimmy21
Mon Apr 29, 2019 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Earned income for 9 year old
Replies: 52
Views: 3684

Re: Earned income for 9 year old

Im not really seeing your guy's point. As far as i read the law, as long as they earn less than $6,350, nothing is needed other than a logbook. I also dont see an IRS agent having a problem with my daughter walking dogs and picking up poop for a few hours a week. My wife isnt issues a w2 or a 1099 e...
by Jimmy21
Mon Apr 29, 2019 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Earned income for 9 year old
Replies: 52
Views: 3684

Earned income for 9 year old

We want to start our 9 year old a roth ira. She has to show earned income. My wife babysits dogs. We are going to pay our daugher to help. My understanding is that we just nees to keep a log book of when shes worked and how much she has made. Does anyone have any advice on this or anything else i sh...
by Jimmy21
Mon Apr 15, 2019 2:02 pm
Forum: Personal Investments
Topic: $1.1 million rental portfolio, but tired of being a landlord
Replies: 87
Views: 11734

Re: $1.1 million rental portfolio, but tired of being a landlord

I may be wrong, but isn't the $18,000/year depreciation only a temporary tax break? If you sell the properties, all that depreciation shows up as some kind of income on your tax return (unless you die and your heirs sell with a stepped-up basis) Im curious to hear mkes about this. I have a rental t...
by Jimmy21
Mon Apr 15, 2019 1:56 pm
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

You have to call Vanguard (or wherever you have the IRA) to do this. It is not something you can do it yourself, there is some backend reporting to IRS that needs to be triggered, only financial institutions can do that. No fees or penalties to do the recharacterization. If the recharacterization i...
by Jimmy21
Mon Apr 15, 2019 1:35 pm
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

If you mean for tax year 2018, today is the deadline to contribute. Do Traditional. If you mean for tax year 2019, contribute to Roth for now. Because you are saying this year you expect to have lower income, and at lower incomes Roth is better option. You can always “recharacterize” to Traditional...
by Jimmy21
Mon Apr 15, 2019 12:53 pm
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

I want to contribute to my wifes account, but now I'm confused. Should i contribute to roth or traditional this year?


Traditional would still be tax deductible. This year will probably be also really good for us, but not as good. Im going to guess our AGI ends up being like 120k
by Jimmy21
Mon Apr 15, 2019 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: When should i invest in my taxable account?
Replies: 6
Views: 1028

Re: When should i inevest in my taxable account?

Question: Why have a savings account in the first place? You could either keep your emergency fund in checking or with CDs at your brokerage. Because my checking pays .01% interest and my ally savings pays 2.2%. Probably not a big deal on 5 grand or whatever, but id rather have money build up in my...
by Jimmy21
Mon Apr 15, 2019 10:23 am
Forum: Personal Finance (Not Investing)
Topic: When should i invest in my taxable account?
Replies: 6
Views: 1028

When should i invest in my taxable account?

This relates to budgeting more than investing. My income fluctuates and so do my bills. Ive been trying to get more serious about investing over the last few months. Im trying to get my system set up. Right now, ive got it set up like this: my direct deposit is deposited in to my ally savings accoun...
by Jimmy21
Fri Apr 12, 2019 6:12 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Re: Are my 401k fees ridiculously high?

We are able to contribute $1 to $10 per hour. Some people do $10 per hour. I dont see much issue with it. They'll have pretty reasonable fees in a month or two. The problem i have is that the young 18 year olds makin $15 per hour get suckered in to taking out $1 per hour. They have no idea that they...
by Jimmy21
Fri Apr 12, 2019 6:09 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Re: Are my 401k fees ridiculously high?

I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth. I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen...
by Jimmy21
Fri Apr 12, 2019 1:19 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Re: Are my 401k fees ridiculously high?

I'd encourage you to participate and contribute the maximum you can afford. The automation of 401K contributions from payroll deduction is a stealth way to accrue wealth. I have never seen a 401K plan that has both a flat monthly fee and quarterly fee. That doesn't sound right. I've also never seen...
by Jimmy21
Thu Apr 11, 2019 10:07 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Re: Are my 401k fees ridiculously high?

You might want to have a pleasant conversation with your HR department to see what would be necessary to lower the plan's fees for everyone. Be glad that your only S&P 500 index fund isn't RYSYX; its expense ratio is 2.33%. Since he mentions union I wonder how much of this is actually part of a lab...
by Jimmy21
Thu Apr 11, 2019 7:25 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Re: Are my 401k fees ridiculously high?

Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there That's probably why your fees are as high as they are. 401k plan fees can be lowered in situations where the employer picks up more of the cost of running the plan, and/or when th...
by Jimmy21
Thu Apr 11, 2019 6:56 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Re: Are my 401k fees ridiculously high?

Those fees also dont include the expense ratios of the funds themselves. Most of the funds are .5%. But there is some sort of sp500 index that is .04%


Ive been talking to people at work and they are all complete oblivious to the fees and most have less than 10k in there
by Jimmy21
Thu Apr 11, 2019 6:21 pm
Forum: Personal Investments
Topic: Are my 401k fees ridiculously high?
Replies: 32
Views: 2541

Are my 401k fees ridiculously high?

The 401k for our union has fees of

$10 per month
$10 per quarter
.1% apy
.15% apy


Is $160 per year plus .25% really high?
by Jimmy21
Thu Apr 11, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Can i rollover my 401k?
Replies: 3
Views: 295

Re: Can i rollover my 401k?

I believe you are stuck if still employed. General you only have access to rollover after you leave the employer. For now, contribute only the minimum to capture company match. Contribute any excess savings you can to a Roth IRA (first) and then any more excess to a taxable account. Both at Vanguar...
by Jimmy21
Thu Apr 11, 2019 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Can i rollover my 401k?
Replies: 3
Views: 295

Can i rollover my 401k?

I belong to a union which offers a 401k. The fees are insane. Hundreds of dollars per year and a percentage on top of it. A person that i work with is trying to rollover his 401k to somewhere that doesnt have much for fees. He is still a member, just someone that looked at his statement and relized ...
by Jimmy21
Sat Apr 06, 2019 9:33 am
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

RickBoglehead wrote:
Fri Apr 05, 2019 10:10 pm
With MAGI that high, a traditional IRA would not be deductible...
Also, i just noticed this. I dont think it matteres, but the 162k number was gross, magi was like 130k. I probably should have quoted that originally, but as i said, im kinda new to this
by Jimmy21
Sat Apr 06, 2019 9:15 am
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

The ability to contribute to a tax deductible IRA starts to phase out when your modified adjusted gross income (MAGI) hits $101k if married filing jointly & "you are covered by a retirement plan at work". You say you or your spouse has "180k in annuity at work". A 403b, 401k, pension, etc would be ...
by Jimmy21
Sat Apr 06, 2019 1:29 am
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

So, i think ill stick it in a traditional. Any recommendations on what i should buy? My two thoughts are VLXVX - Vanguard Target Retirement target 2065 and VTSAX total stock market
by Jimmy21
Fri Apr 05, 2019 11:47 pm
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

Re: traditional or roth IRA

I dont know if it effects the decision, but the next few years could be just as high. I work construction and the area is booming right now. I doubt we'll make 160, but i dont think 130 is out of the question for this year and next. Eventually construction will slow down and ill be lucky to get 1500...
by Jimmy21
Fri Apr 05, 2019 9:40 pm
Forum: Personal Investments
Topic: traditional or roth IRA
Replies: 20
Views: 1104

traditional or roth IRA

i worked a ton of overtime last year and i'm using the extra money to get in to investing. I did 5,500 in to a roth IRA for myself, but i hadn't done my wifes, yet. I was planning to do it before i submitted our taxes. Im currently working on my taxes with turbo tax. It says that if i did a traditio...
by Jimmy21
Fri Apr 05, 2019 2:35 pm
Forum: Personal Investments
Topic: Investments with risk in between bonds and equities
Replies: 11
Views: 884

Re: Investments with risk in between bonds and equities

dbr wrote:
Fri Apr 05, 2019 2:26 pm
You realize that target retirement funds are funds of funds that hold stock funds and bond funds? You are already invested in what you are asking about. The allocation to each depends on what "Retirement Year" label you choose.
Yes. Well aware. Fund im in is 90% stocks and 10% bonds
by Jimmy21
Fri Apr 05, 2019 2:24 pm
Forum: Personal Investments
Topic: Investments with risk in between bonds and equities
Replies: 11
Views: 884

Re: Investments with risk in between bonds and equities

FYI, this thread was to make sure i understood everything, not actually looking at options for money i have right now.
by Jimmy21
Fri Apr 05, 2019 2:19 pm
Forum: Personal Investments
Topic: Investments with risk in between bonds and equities
Replies: 11
Views: 884

Re: Investments with risk in between bonds and equities

What is your AA? What funds do you have now? I dont have a simple answer for the AA. Short answer, im just getting started and have yet to allocate most of my money. Long answer: Im 35 and married with 2 kids. I thought i was too broke to invest for way too long. Saved up, bought a house. Moved (tu...
by Jimmy21
Fri Apr 05, 2019 12:41 pm
Forum: Personal Investments
Topic: Investments with risk in between bonds and equities
Replies: 11
Views: 884

Investments with risk in between bonds and equities

Sorry if this is a newb question. Im somewhat new to this. I have my money split in to basically two groups. Money that I could potentially want soonish. I have it in an ally bank account (2.2%) and 1 year cds (2.7%) and other money that i dont want to touch for years. Vanguard roth iras with target...
by Jimmy21
Sun Jan 28, 2018 5:07 pm
Forum: Personal Investments
Topic: opened up vanguard roth ira, need help
Replies: 9
Views: 735

Re: opened up vanguard roth ira, need help

ok, i got it all set up with reoccurring $100 weekly payments and its going directly in to the target retirement fund I also want to set up a general savings fund. Something i can have much more liquid. Money i might need for putting on a new roof or going on vacation, etc, but gets much better ret...
by Jimmy21
Sun Jan 28, 2018 4:40 pm
Forum: Personal Investments
Topic: opened up vanguard roth ira, need help
Replies: 9
Views: 735

Re: opened up vanguard roth ira, need help

ok, i got it all set up with reoccurring $100 weekly payments and its going directly in to the target retirement fund I also want to set up a general savings fund. Something i can have much more liquid. Money i might need for putting on a new roof or going on vacation, etc, but gets much better retu...
by Jimmy21
Sun Jan 28, 2018 4:22 pm
Forum: Personal Investments
Topic: opened up vanguard roth ira, need help
Replies: 9
Views: 735

Re: opened up vanguard roth ira, need help

I think you answered your own question with a good choice for just starting out. Once you set up for continued weekly investments, stay here and learn all that you can. im not seeing where weekly investments is an option. I'm sure its there. Will it automatically invest in to a fund or do i have to...
by Jimmy21
Sun Jan 28, 2018 4:20 pm
Forum: Personal Investments
Topic: opened up vanguard roth ira, need help
Replies: 9
Views: 735

Re: opened up vanguard roth ira, need help

for additional financial references: im married with 2 kid. We are 33 and 31 im a union electrician. My union retirement is in the form of an annuity and it currently has about 150k in it we own 2 homes. Our primary is worth around 450k and has a 180k loan and we also have a rental worth maybe 180k ...
by Jimmy21
Sun Jan 28, 2018 3:45 pm
Forum: Personal Investments
Topic: opened up vanguard roth ira, need help
Replies: 9
Views: 735

opened up vanguard roth ira, need help

Hi, im 33 and just opened up a roth ira with vanguard. I transferred 2,000 to it and i want to set it up to do reoccurring weekly payments. Im not sure how to do, but i'm sure i can figure it out. The real reason im here is because im not sure what to invest in. Im sure it has been answered a millio...