Search found 53 matches

by needadvise1
Wed Jan 09, 2019 1:35 am
Forum: Personal Investments
Topic: (Mega) Backdoor Roth
Replies: 14
Views: 1162

Re: (Mega) Backdoor Roth

Check first if Passive income applies (most rentals). I am not a CPA.
by needadvise1
Wed Jan 09, 2019 1:05 am
Forum: Personal Investments
Topic: generating money safely/ cd interest/treasuries --is this ok?
Replies: 9
Views: 938

Re: generating money safely/ cd interest/treasuries --is this ok?

From your description, I would just invest it at a risk profile that matches your tolerance for what you will do with the money and age. It doesn't sound like you need it right away, or have a financial risk of not being able to wait, so some investment return (stock/bond mix) seems appropriate. Wit...
by needadvise1
Wed Jan 09, 2019 12:57 am
Forum: Personal Investments
Topic: Starting over with windfall
Replies: 2
Views: 782

Re: Starting over with windfall

You will get advice here. However, Vanguard PAS services is reasonable at your balance if you really rather have someone help you so your less nervous. Are you self employed? Did you sell a business? Where did the taxable cash windfall come from? Talk to a CPA and lawyer to see if you can find a str...
by needadvise1
Wed Jan 09, 2019 12:37 am
Forum: Personal Investments
Topic: Fiancée Thinks I'm Putting Too Much Towards Retirement/ Not Enough Towards Short-Term Goals
Replies: 136
Views: 11516

Re: Fiance Thinks I'm Putting Too Much Towards Retirement/ Not Enough Towards Short-Term Goals

My advice: Get a prenup This is a brilliant insight that is not being emphasized enough in this thread. But, why? They both bring a relatively equally footing to the table, especially if he isn't in a community property state (where the wife's cash will co-mingle). I've seen cases for pre-nups, thi...
by needadvise1
Wed Jan 09, 2019 12:26 am
Forum: Personal Investments
Topic: generating money safely/ cd interest/treasuries --is this ok?
Replies: 9
Views: 938

Re: generating money safely/ cd interest/treasuries --is this ok?

How old are you?

What others savings do you have?

What do you intend to do with the money?

Are you married?
by needadvise1
Wed Jan 09, 2019 12:24 am
Forum: Personal Investments
Topic: Move 401K to new employer or keep at old?
Replies: 16
Views: 1200

Re: Move 401K to new employer or keep at old?

Neither. Roll it over to an IRA. Why would you limit your options with a 401K, when you can invest in most anything with an IRA? There are a few reasons: 401(k)s generally have ERISA protection, IRAs might not be as well protected depending on what state you live in OP's 401(k)s (old and new) have ...
by needadvise1
Wed Jan 09, 2019 12:20 am
Forum: Personal Finance (Not Investing)
Topic: Too many credit cards?
Replies: 54
Views: 3885

Re: Too many credit cards?

I open 3-4 cards a year to loot the sign-up bonuses. I travel to Europe/Asia every year in Business/First class. I have never bought a ticket with cash. I keep others because the annual fees ($60-80) covers a free hotel night which I always use in some city costing $200-250, or buy one get one free ...
by needadvise1
Mon Jan 07, 2019 10:00 am
Forum: Personal Investments
Topic: Move 401K to new employer or keep at old?
Replies: 16
Views: 1200

Re: Move 401K to new employer or keep at old?

Consolidate to your new one, IMO. Note that Fidelity's offering the Vanguard trusts at slightly lower expense ratios than Vanguard themselves are (somehow). That is, if I'm reading the Vanguard one correctly -- the formatting in your post is a little hard to understand. Incidentally, your new 401(k...
by needadvise1
Mon Jan 07, 2019 1:40 am
Forum: Personal Investments
Topic: Move 401K to new employer or keep at old?
Replies: 16
Views: 1200

Move 401K to new employer or keep at old?

I just changed changed jobs. Do I keep my nestegg at my old employer ($25/year) or move it? I'm using the Index/Bond fund options at both. Old: Vanguard: Fund name Fund symbol/ Number Total annual operating expenses Average annual total return** as of 12/31/2018 Benchmark As a % Per $1000 1-Year 5-Y...
by needadvise1
Mon Jan 07, 2019 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy: Right amount for $7 mil net worth?
Replies: 113
Views: 21054

Re: Umbrella Policy: Right amount for $7 mil net worth?

Most creditors won't chase future pay unless you truly have nothing else to offer. If all exemptions are done with, they're still generally limited to 25% of paycheck over a limited number of years. In the grand of million+ judgement, they rather have the settlement now with the insurance funds. If ...
by needadvise1
Mon Jan 07, 2019 12:25 am
Forum: Personal Finance (Not Investing)
Topic: $40,000 in debt, bankruptcy seems to be the best option right now
Replies: 271
Views: 25805

Re: $40,000 in debt, bankruptcy seems to be the best option right now

Discover card $250.00 All other credit cards $463.00 City Furniture -684 Chase Slate -4804.91 Barclay Card -1845.77 Amex -996.18 Citi Double Cash -4083.12 Discover Credit Card -13662.36 Amaz CC -3044.41 Chase Freedom -4309.62 BankAmericard -5196.83 If it were me, the very first thing I'd do TODAY ,...
by needadvise1
Mon Jan 07, 2019 12:22 am
Forum: Personal Finance (Not Investing)
Topic: $40,000 in debt, bankruptcy seems to be the best option right now
Replies: 271
Views: 25805

Re: $40,000 in debt, bankruptcy seems to be the best option right now

Too much house. I'm sorry to say. It's hard to fix now but shouldn't have been entered into in the first place.

For now, get a beater used car (kill the $350 lease) and find a way to make a few extra bucks.
by needadvise1
Mon Jan 07, 2019 12:18 am
Forum: Personal Consumer Issues
Topic: Large SUV
Replies: 75
Views: 7528

Re: Large SUV

Keep in mind A SUV generally generally make a poor replacement or a Minivan. If you bought the minivan for a reason, carefully look at the functionality you need. If looking cool, fun to drive, and towing are not on the list, the minivan is far more practical by almost all accounts than today's &quo...
by needadvise1
Sun Jan 06, 2019 3:41 pm
Forum: Personal Investments
Topic: Pension Handcuffs?
Replies: 51
Views: 4895

Re: Pension Handcuffs?

I have another friend who was in his 70s and receiving $10,000 a month from United airlines in Pension payments. Well retired and set to his new "fixed income" lifestyle (although not a bad one), he had to sell his house, default on obligations, and restart his life. He was told one day th...
by needadvise1
Sun Jan 06, 2019 3:37 pm
Forum: Personal Investments
Topic: Pension Handcuffs?
Replies: 51
Views: 4895

Re: Pension Handcuffs?

Good pension and good healthcare are really hard to come by these days..... Very few megacorps offer them and even government is altering the formulas making it more costly for new employees starting out. Forget about healthcare, most companies have completely done away with them or have made them ...
by needadvise1
Sun Jan 06, 2019 3:33 pm
Forum: Personal Investments
Topic: Portfolio Guidance + Company Payout
Replies: 1
Views: 191

Re: Portfolio Guidance + Company Payout

Most RSU's can't be deferred to a 401k, unfortunately, as they are actually granting stock units. If they pay it out as a cash bonus as a one time exception due to the acquisition, it might be possible. Ask HR. Take the cash, and use it to defer more money to you and the wife's 401K/IRA accounts. Pu...
by needadvise1
Sat Jan 05, 2019 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Policy: Right amount for $7 mil net worth?
Replies: 113
Views: 21054

Re: Umbrella Policy: Right amount for $7 mil net worth?

Would strongly recommend non-owned auto insurance as I see that as your biggest exposure. For me, umbrella would depend on where you live and what you drive. If you lived in/rented in a billion dollar downtown condo/apt building, I would be inclined to carry a very large umbrella policy as renter's...
by needadvise1
Fri Jan 04, 2019 11:58 pm
Forum: Personal Investments
Topic: 5 year CDs @Penfed mature 1/22/19
Replies: 30
Views: 3543

Re: 5 year CDs @Penfed mature 1/22/19

I have to say, I have a 1.9% APR used car loan with penfed.

Where the hell do they get the money any cheaper to make money on that if CD rates are at 3%?

Only more obscene is the 4.1% unsecured cash loan lightstream gave me to buy a non-secured vehicle.
by needadvise1
Fri Jan 04, 2019 11:56 pm
Forum: Personal Investments
Topic: 8-month windfall check-in
Replies: 36
Views: 7915

Re: 8-month windfall check-in

I applaud you on your savings to date. I'm not talking about the inherited funds, but living on $110k in NYC and having 500k saved up is pretty damn good. I think you'll manage the rest of it fine. Have you considered keeping the rental? I know you probably don't want it, but it might be a good dive...
by needadvise1
Fri Jan 04, 2019 11:48 pm
Forum: Personal Investments
Topic: Portfolio review and advice on inherited funds
Replies: 12
Views: 1002

Re: Portfolio review and advice on inherited funds

The American Funds can be -ok- in the right share class. Some other ones have high load fees and very little expenses, so they don't cost until you move them as it was already paid long ago. Most though, just have horribly yearly fees. I'm not saying you'll do any worse moving them out, but this is ...
by needadvise1
Fri Jan 04, 2019 11:43 pm
Forum: Personal Investments
Topic: Advice for older and younger person saving for retirement?
Replies: 33
Views: 3188

Re: Advice for older and younger person saving for retirement?

I really don't think additional money in your mothers name is going to help her at this point in life. Depending on what welfare programs she ends up on, it may even just hurt her. She well essentially be supported by the state and you're in an area where you're probably best letting things be that ...
by needadvise1
Fri Jan 04, 2019 11:24 pm
Forum: Personal Investments
Topic: New Job. lowest expense mutual fund available is 1.84%. should we invest in taxable instead?
Replies: 20
Views: 2110

Re: New Job. lowest expense mutual fund available is 1.84%. should we invest in taxable instead?

Contribute to max the match Then, do any other pre-tax (tira). Both of you. That's another 12k. As long as you have a HDCP, you can still do the HSA thing independetly. Then, if you can afford more, do you remainder in the 401K. You probably won't be able to afford more unless you live lean. Since y...
by needadvise1
Wed Jan 02, 2019 11:19 pm
Forum: Personal Investments
Topic: Roll Over my 401k plan to New Employer's 401k? or Not?
Replies: 17
Views: 1494

Re: Roll Over my 401k plan to New Employer's 401k? or Not?

You'll probably want to do a 2018 TiRA contribution, but I would post a new post and question at this point. Your original request has mostly been lost in the noise.
by needadvise1
Wed Jan 02, 2019 11:11 pm
Forum: Personal Investments
Topic: Delaying retirement just to help adult children
Replies: 66
Views: 6742

Re: Delaying retirement just to help adult children

I can't say there is a clear choice here, but I can suggest reading the millionaire next door book. There is a whole section on economic welfare for children.
by needadvise1
Wed Jan 02, 2019 8:07 pm
Forum: Personal Investments
Topic: mega-backdoor 401k is with Fidelity. Should I open a 2nd Roth with them or can I roll over directly to Vanguard?
Replies: 18
Views: 1400

Re: mega-backdoor 401k is with Fidelity. Should I open a 2nd Roth with them or can I roll over directly to Vanguard?

Is this what I want then?

Is there any downside?

On the same token, can I bring my external Roth IRA balance over to a qualified plan to take advantage of the better protections offered? In my state, only 100k of Roth IRA is exempt from lawsuits.

Image
by needadvise1
Wed Jan 02, 2019 7:41 pm
Forum: Personal Investments
Topic: mega-backdoor 401k is with Fidelity. Should I open a 2nd Roth with them or can I roll over directly to Vanguard?
Replies: 18
Views: 1400

Re: mega-backdoor 401k is with Fidelity. Should I open a 2nd Roth with them or can I roll over directly to Vanguard?

It does support in-plan, but my understanding is the growth does not grow tax-prepaid and only the principal does, or something funny like that?
by needadvise1
Tue Jan 01, 2019 11:41 pm
Forum: Personal Investments
Topic: mega-backdoor 401k is with Fidelity. Should I open a 2nd Roth with them or can I roll over directly to Vanguard?
Replies: 18
Views: 1400

mega-backdoor 401k is with Fidelity. Should I open a 2nd Roth with them or can I roll over directly to Vanguard?

My work has a Fidelity 401k that I plan to mega-backdoor with.

Should I open a Roth IRA at Fidelity, or is it possible to have them regularly perform transfers directly to my Vanguard account? If Vanguard will be a PITA, I can just open the 2nd Roth.
by needadvise1
Fri Dec 28, 2018 11:09 pm
Forum: Personal Investments
Topic: New to Bogleheads - Portfolio Review (1st baby on the way)
Replies: 20
Views: 2519

Re: New to Bogleheads - Portfolio Review (1st baby on the way)

Thank you! Any other advice or recommendations? You'll need to increase your savings rate to have a reasonable chance of enjoying the same lifestyle you have now in retirement, ~$100k isn't enough for your age and income. Maxing out your 401k from now until retirement is probably the minimum requir...
by needadvise1
Fri Dec 28, 2018 10:58 pm
Forum: Personal Investments
Topic: Backdoor Roth - 2018/2019 simultaneously?
Replies: 4
Views: 666

Re: Backdoor Roth - 2018/2019 simultaneously?

You can actually contribute to 2018's Roth IRA before the 2019 tax filing deadline. You can virtually do them the same day, but it be two separate purchases. The conversion can be done all at once, but there's no reason you need to do so.
by needadvise1
Fri Dec 28, 2018 10:57 pm
Forum: Personal Investments
Topic: Anyone have experience with Chase Investment?
Replies: 18
Views: 1332

Re: Anyone have experience with Chase Investment?

A couple things to keep in mind:

1) Expect a 1099 for the points. Depending on your tax rate, you'll pay $100-250 for them.
2) I do not believe retirement accounts (IRA) qualify.
by needadvise1
Fri Dec 28, 2018 1:04 pm
Forum: Personal Investments
Topic: How to harvest $3,000 in short term losses against to
Replies: 2
Views: 355

How to harvest $3,000 in short term losses against to

I have 70k in a brokerage account, all invested in Vanguard wellington admiral shares. I have no other capital gains or losses other than $600 in gains on a tax-exempt bond fund. My cost basis is $7,000 above the current market value of the shares. These are short term losses. Can I sell half of the...
by needadvise1
Sat Dec 22, 2018 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Car Accident Help - Part Backordered and Insurance Refusing to Pay Continued Rental
Replies: 24
Views: 2531

Re: Car Accident Help - Part Backordered and Insurance Refusing to Pay Continued Rental

You have to take all reasonable steps to minimize the loss, and if a 50 day car rental is going to cost $2,000, you have to put in a commensurate effort. You may find a part for a $500 premium and they may choose to pay it, including a used part. Tossing up your hands because its backordered won't ...
by needadvise1
Wed Dec 19, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Small Claims - Auto Dealer Claims No $$ To Pay Judgement
Replies: 40
Views: 3362

Re: Small Claims - Auto Dealer Claims No $$ To Pay Judgement

Small claims aside, car dealers in many states may be required as a regulatory matter to carry insurance or other indemnity protection against fraudulent actions in the course of the car trade. They may or may not help you, depending on the nature of the fraud, but it's worth a check. As an alternat...
by needadvise1
Wed Dec 19, 2018 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Car Accident Help - Part Backordered and Insurance Refusing to Pay Continued Rental
Replies: 24
Views: 2531

Re: Car Accident Help - Part Backordered and Insurance Refusing to Pay Continued Rental

I would challenge the assertion that they can get the part quicker, or ask them to prove that is the case. I would then offer them the opportunity to source and supply the part. You have to take all reasonable steps to minimize the loss, and if a 50 day car rental is going to cost $2,000, you have t...
by needadvise1
Sun Nov 25, 2018 6:35 pm
Forum: Personal Investments
Topic: Can I over-contribute to 401k plan between 2 employers in anticipation of HCE refund from old employer?
Replies: 15
Views: 1005

Re: Can I over-contribute to 401k plan between 2 employers in anticipation of HCE refund from old employer?

Is it possible to withdraw same year 401k contributions now? That would be another solution. I could pull 4k out of the existing plan and just contribute it before the end of the year on the new plan. I thought they restated the W2 with the correct amount, but you're right, that looks like its not t...
by needadvise1
Tue Nov 20, 2018 12:45 pm
Forum: Personal Investments
Topic: Can I over-contribute to 401k plan between 2 employers in anticipation of HCE refund from old employer?
Replies: 15
Views: 1005

Can I over-contribute to 401k plan between 2 employers in anticipation of HCE refund from old employer?

I contributed 16,334.84 with a prior employer as of today's date. Tomorrow I start with a new employer. They have asked me for my prior year contributions so they can set my maximum contribution limit. I know I will get a refund check from the prior year employer anyways, as I expect the HCE limit t...
by needadvise1
Sun Sep 23, 2018 9:53 pm
Forum: Personal Investments
Topic: Need 401k Portfolio asset allocation recommendations - 35yo with 200k.
Replies: 9
Views: 1252

Re: Need 401k Portfolio asset allocation recommendations - 35yo with 200k.

Thank you everyone for your advice. I appreciate your assistance.
by needadvise1
Sat Sep 22, 2018 1:05 pm
Forum: Personal Investments
Topic: Need 401k Portfolio asset allocation recommendations - 35yo with 200k.
Replies: 9
Views: 1252

Re: Need 401k Portfolio asset allocation recommendations - 35yo with 200k.

Thank you for the input. I should expand a bit more, I currently have this 200k in a 401k and I also have 50k in a Roth IRA. The Roth IRA is 100% in Vanguard Wellington Admiral shares. The entire list of options available to invest in is below. There is a Vanguard Target Retirement 2050 Trust Select...
by needadvise1
Fri Sep 21, 2018 11:52 pm
Forum: Personal Investments
Topic: Need 401k Portfolio asset allocation recommendations - 35yo with 200k.
Replies: 9
Views: 1252

Need 401k Portfolio asset allocation recommendations - 35yo with 200k.

Below is my current portfolio makeup, with a balance of $200k. I am currently 35 and would like to retire around 60-65. I will max out my 401k plan between now and retirement on all years, along with maxing out a Roth or traditional IRA on some years. I don't expect to have any other retirement asse...
by needadvise1
Thu Feb 08, 2018 4:28 pm
Forum: Personal Investments
Topic: Should I roll a former employer's 401K into a roth IRA or my current 401K?
Replies: 23
Views: 2018

Re: Should I roll a former employer's 401K into a roth IRA or my current 401K?

JBTX,

Good call out on the future difficulties of backdoor Roth IRA contributions. That alone would lean me towards leaving it in a 401K.
by needadvise1
Thu Feb 08, 2018 4:27 pm
Forum: Personal Investments
Topic: Should I roll a former employer's 401K into a roth IRA or my current 401K?
Replies: 23
Views: 2018

Re: Should I roll a former employer's 401K into a roth IRA or my current 401K?

Celia, Thanks for the input. To address a few questions: * Taxes would be paid out of current year income. This is money I would be obligated to pay taxes on regardless or what I do with it (at some 35%+ rate). I don't know what I will do with it otherwise other than toss it into a brokerage account...
by needadvise1
Thu Feb 08, 2018 3:38 pm
Forum: Personal Investments
Topic: Should I roll a former employer's 401K into a roth IRA or my current 401K?
Replies: 23
Views: 2018

Re: Should I roll a former employer's 401K into a roth IRA or my current 401K?

This is how I thought it worked, and I could totally be wrong: Let's say my tax rate is 15% both now and in retirement. I made this number up, but I'm suggesting it is unchanged. Option #1: I'm 20 years old. I put $1,000 in a roth IRA. $850 starts working for me, as I paid 15% up front in taxes. Whe...
by needadvise1
Thu Feb 08, 2018 3:07 pm
Forum: Personal Investments
Topic: Should I roll a former employer's 401K into a roth IRA or my current 401K?
Replies: 23
Views: 2018

Re: Should I roll a former employer's 401K into a roth IRA or my current 401K?

Agreed. Unfortunately my 401k is already maxed unfortunately, and I can only put 10-12k a year into it anyways due to HCE BS.

I'm just trying to compare theoretical tax-equal throughout my life examples.

In either case, I think the right answer for now is to leave this in a 401k.
by needadvise1
Thu Feb 08, 2018 2:58 pm
Forum: Personal Investments
Topic: Should I roll a former employer's 401K into a roth IRA or my current 401K?
Replies: 23
Views: 2018

Re: Should I roll a former employer's 401K into a roth IRA or my current 401K?

What's you're saying then is potentially at some point the growth tax treatment may (if favorable tax laws don't change) be more beneficial at some point verse the loss in money working for you making interest due to paying taxes in advance. Those number would intersect. However, as a pratical matte...
by needadvise1
Thu Feb 08, 2018 2:12 pm
Forum: Personal Investments
Topic: Should I roll a former employer's 401K into a roth IRA or my current 401K?
Replies: 23
Views: 2018

Re: Should I roll a former employer's 401K into a roth IRA or my current 401K?

Thank you David. Perhaps I misunderstood, but I was under the impression that if I put $100 in when I was 18, I would be able to get it out, including any earnings, tax free at retirement age. Therefore, the compound interest in those 50 years would not have any tax applied. Under that reasoning, if...
by needadvise1
Wed Feb 07, 2018 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Hole
Replies: 163
Views: 17586

Re: Financial Hole

If you call to cancel the satellite radio, I can almost guarantee you will get it for half price for the next year.
by needadvise1
Wed Feb 07, 2018 11:20 pm
Forum: Personal Investments
Topic: Any alternative for tax-advantaged contributions if 401K fails HCE test?
Replies: 2
Views: 290

Re: Any alternative for tax-advantaged contributions if 401K fails HCE test?

They do have a HSA health plan, which amounts to a free $1500 HSA provided for you and a very-high deductible health plan to go with it. Currently, I am on the standard PPO.