Search found 42 matches

by dash1s
Thu May 09, 2019 3:31 pm
Forum: Personal Investments
Topic: Mega-Backdoor Roth (MBR) vs 529 for college
Replies: 13
Views: 915

Re: Mega-Backdoor Roth (MBR) vs 529 for college

Aren't education expenses qualified withdrawals from roth? So you can theoretically draw down on roth earnings before 59 penalty free (assuming any principal you had was already withdrawn already because that comes out first)?
by dash1s
Thu May 02, 2019 10:21 pm
Forum: Personal Investments
Topic: Riskfree 3.00% Yield?!
Replies: 33
Views: 6220

Re: Riskfree 3.00% Yield?!

There was another post recently about some munis that spike. Sounds like a seasonal thing that occurs just after taxes are due, but does not persist. I read that. But it hasn't really explained it for me. Just look at FSNXX end of month yields (and the below trend is more of the same for all the ot...
by dash1s
Thu May 02, 2019 8:41 pm
Forum: Personal Investments
Topic: Riskfree 3.00% Yield?!
Replies: 33
Views: 6220

Re: Riskfree 3.00% Yield?!

Hi all, I’m looking at the VYFXX, and the SEC yield has spiked recently. Did anyone else notice this? I’m calculating close to 3.00% riskfree TEY yield as of now. Please check my math and let’s find out together. VYFXX is a Federal and NYS Tax exempt fund! SEC Yield: 2.07% My Fed Tax Rate: 22% My N...
by dash1s
Thu May 02, 2019 8:25 pm
Forum: Investing - Theory, News & General
Topic: I can't make heads or tails of these SEC yields
Replies: 11
Views: 1057

Re: I can't make heads or tails of these SEC yields

Muni MM yield fluctuates on a surprisingly cyclical schedule. It will rise for 4-6 weeks, then fall for the next 4-6 weeks. The current 2.11% yield is a result of continuous yield increases since the time it was at 1.45% less than a month ago. I wouldn't be surprised if we are near the peak of the ...
by dash1s
Fri Mar 22, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Form 8606 help
Replies: 10
Views: 1098

Re: Form 8606 help

Don't agree with the above.... Line 10 Specifically says: "Divide line 5 by line 9. Enter the result as a decimal rounded to at least 3 places. If the result is 1.000 or more, enter “1.000”" .... So line 10, per their instructions, would be "1.000" for you. Nope. I think you reversed the numbers. W...
by dash1s
Fri Mar 22, 2019 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Form 8606 help
Replies: 10
Views: 1098

Re: Form 8606 help

On your 2017 Form 8606, everything looks ok. For 2018, you should tell the tax preparer to first use the software to report the contribution as nondeductible. After that, he/she should go back to an earlier part in the software where the Roth conversions are reported ($11,003, since values are roun...
by dash1s
Wed Mar 20, 2019 8:32 pm
Forum: Personal Investments
Topic: Role of Pensions and Social Security in Asset Allocation
Replies: 147
Views: 7071

Re: Role of Pensions and Social Security in Asset Allocation

The argument against counting pensions and Social Security in asset allocation flows not from intuition but from first principles of economics: they aren't financial assets, so we don't count them in asset allocation. To start, it is perfectly fine if its' your preference to exclude Pension/Social ...
by dash1s
Wed Mar 06, 2019 9:55 pm
Forum: Personal Consumer Issues
Topic: Diminished value claim advice
Replies: 41
Views: 2062

Re: Diminished value claim advice

I guess the discussion has evolved to the philosophical merits of diminished value. To make things more pragmatic, her plan was to hold on to the car for about five years (three years from now) and trade/exchange for something nicer; this plan may need to be reassessed based on recent events. I thi...
by dash1s
Wed Mar 06, 2019 9:21 pm
Forum: Personal Consumer Issues
Topic: Diminished value claim advice
Replies: 41
Views: 2062

Re: Diminished value claim advice

Something is only worth what someone will pay for it. You may find someoen that will not care about the accident and pay full vale. Someone may not. You don't know until you sell it to find out. A diminished value claim, by its nature, is to reclaim your lost asset value as compensation due to some...
by dash1s
Wed Mar 06, 2019 8:46 pm
Forum: Investing - Theory, News & General
Topic: Role of Pension and SS in determining FI number.
Replies: 35
Views: 3270

Re: Role of Pension and SS in determining FI number.

midareff wrote:
Wed Mar 06, 2019 8:26 pm
They are income streams and have nothing to do with your portfolio's (AA) asset allocation.
Of course they do. Income streams affect your ability to take risk.
by dash1s
Wed Mar 06, 2019 8:21 pm
Forum: Personal Consumer Issues
Topic: Diminished value claim advice
Replies: 41
Views: 2062

Re: Diminished value claim advice

I am wondering why would the quoted above matter? It doesn’t matter because it’s wrong. Something is only worth what someone will pay for it. You may find someoen that will not care about the accident and pay full vale. Someone may not. You don't know until you sell it to find out. A diminished val...
by dash1s
Wed Mar 06, 2019 8:14 pm
Forum: Personal Consumer Issues
Topic: Diminished value claim advice
Replies: 41
Views: 2062

Re: Diminished value claim advice

8foot7 wrote:
Tue Mar 05, 2019 9:07 pm
dash1s wrote:
Tue Mar 05, 2019 7:56 pm
nhdean wrote:
Tue Mar 05, 2019 6:33 pm
If you run the car until it dies there is no diminished value, as long the accident did not cause premature death. If you do not sell the car, you don't have any diminished value.

I am wondering why would the quoted above matter?
It doesn’t matter because it’s wrong.
Figured as much.
by dash1s
Tue Mar 05, 2019 7:56 pm
Forum: Personal Consumer Issues
Topic: Diminished value claim advice
Replies: 41
Views: 2062

Re: Diminished value claim advice

If you run the car until it dies there is no diminished value, as long the accident did not cause premature death. If you do not sell the car, you don't have any diminished value. I have no background in the matter, but have found this thread pretty interesting. I am wondering why would the quoted ...
by dash1s
Fri Feb 01, 2019 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Intro and Personal Finance Advice
Replies: 55
Views: 5203

Re: Intro and Personal Finance Advice

Insurance positions usually have commissions baked into the payouts. Does the 56k post-tax have a certain level of commissions in the forecast?
by dash1s
Mon Jan 07, 2019 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae Bank
Replies: 2
Views: 270

Re: Sallie Mae Bank

I've been looking at Sallie Mae Bank tonight. Current Yield on their Money Market is 2.2% Slightly higher than my current savings account, and I would get check writing ability. The downside is that transfers and deposits take forever to post - 5 business days for amounts <= $5k, 10 business days f...
by dash1s
Tue Oct 09, 2018 6:43 pm
Forum: Personal Investments
Topic: Another TLH question
Replies: 6
Views: 466

Re: Another TLH question

Going to take a stab at this...

Long-term losses first offset LT gains, then ST gains, and than anything leftover up to 3,000 Ordinary Income
by dash1s
Thu Oct 04, 2018 9:00 pm
Forum: Investing - Theory, News & General
Topic: When does a stock become a bond before moving back to a stock again
Replies: 47
Views: 2465

Re: When does a stock become a bond before moving back to a stock again

Let me start by saying that a pennons is NOT part of your portfolio. It is an income stream (you hope), but it isn't an asset. ... :shock: :shock: :shock: How is it not an asset? It's something they expect will bring future economic benefits. It certainly isn't a liability. It may be difficult to "...
by dash1s
Wed Aug 08, 2018 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Career Move: Large Bank to Small Bank, Yes or No?
Replies: 17
Views: 1771

Re: Career Move: Large Bank to Small Bank, Yes or No?

I think I would just ask them to bid you back. 4% bump isn’t much.
by dash1s
Wed Aug 08, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Career Move: Large Bank to Small Bank, Yes or No?
Replies: 17
Views: 1771

Re: Career Move: Large Bank to Small Bank, Yes or No?

I got an offer from a smaller bank (ranked between 45 to 50 by assets) . The new job is in the same city where I live and there will be no significant change to cost of living, commute, or other benefits. I like the new job because it will allow me to gain experience in a field I'm not exposed to a...
by dash1s
Wed Aug 08, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Career Move: Large Bank to Small Bank, Yes or No?
Replies: 17
Views: 1771

Re: Career Move: Large Bank to Small Bank, Yes or No?

I got an offer from a smaller bank (ranked between 45 to 50 by assets) . The new job is in the same city where I live and there will be no significant change to cost of living, commute, or other benefits. I like the new job because it will allow me to gain experience in a field I'm not exposed to a...
by dash1s
Thu Jun 14, 2018 9:26 pm
Forum: Personal Investments
Topic: Callable bond- maintain or take loss?
Replies: 35
Views: 2492

Re: Callable bond- maintain or take loss?

I hope it is all right to mention Institutional names on this blog. Financial advisor firm was JP Turner and they switched to Centarius- it w/b the compliance Dept of JP Turner whose is no longer associated with that financial advisor. I also switched advisors for these CDs—thought was to let him r...
by dash1s
Thu Jun 14, 2018 7:51 pm
Forum: Personal Investments
Topic: Callable bond- maintain or take loss?
Replies: 35
Views: 2492

Re: Callable bond- maintain or take loss?

Is there any way you can get compensation for this "advice"? The product sold to you was clearly inappropriately sold given your age and needs. It's such a huge fraction of your retirement savings that just "taking the pain" is probably not the right answer, but conversely this thing is just sittin...
by dash1s
Tue May 22, 2018 10:44 pm
Forum: Personal Investments
Topic: Funding Roth IRA with extra money in money market account - Good or Bad?
Replies: 3
Views: 487

Re: Funding Roth IRA with extra money in money market account - Good or Bad?

At the end of the day its the same. Your question seems more around liquidity which you will have to make the call.
by dash1s
Mon May 21, 2018 8:36 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 52695

Re: "Why 97% of People Don't Use 529 College Savings Plans."

funded 529 for 2 kids, which paid for their college in full..We didn't fully max out our retirement funds, but would do the same in a heartbeat. Nice! This is when a 529 plan works out. If your two kids happen to not go college or a less expensive one, is where you can find yourself under serious w...
by dash1s
Mon May 21, 2018 8:19 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 52695

Re: "Why 97% of People Don't Use 529 College Savings Plans."

Note if you are paying 40+% marginal taxes you may be paying 18.8-23.8% capital gains taxes. Unlikely you'll be paying 15%. I approximate the tag drag in taxable is offset by the slightly higher fees in 529s. Details depend on specific investments and tax rates. The 40% marginal we are speaking of ...
by dash1s
Mon May 21, 2018 8:02 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 52695

Re: "Why 97% of People Don't Use 529 College Savings Plans."

i don't understand why 529 threads always end up being so long. if you can max out your 401k, that alone puts you in the top 90th percentile of americans. add in maxing the IRA, probably bumps your into 95th percentile. add in maxing a HSA (stealth IRA) and yep, you're 97th percentile now. so if yo...
by dash1s
Mon May 21, 2018 6:57 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 52695

Re: "Why 97% of People Don't Use 529 College Savings Plans."

i don't understand why 529 threads always end up being so long. if you can max out your 401k, that alone puts you in the top 90th percentile of americans. add in maxing the IRA, probably bumps your into 95th percentile. add in maxing a HSA (stealth IRA) and yep, you're 97th percentile now. so if yo...
by dash1s
Thu May 17, 2018 9:18 pm
Forum: Personal Investments
Topic: Fellow non-529ers
Replies: 43
Views: 3657

Re: Fellow non-529ers

Regarding getting "slaughtered on taxes" when trying to withdraw excess funds - is it really that much worse than the taxes you'd pay in a taxable account? IIRC there is an additional 10% tax on capital gains when you withdraw for reasons other than school expenses, but there's also been years of t...
by dash1s
Wed Apr 18, 2018 7:35 pm
Forum: Personal Investments
Topic: Weighted Expense Ratio Calculator
Replies: 7
Views: 1669

Re: Weighted Expense Ratio Calculator

The SUMPRODUCT function in excel. In two different array's, list the expense ratios of all your holdings and their particular weight in your portfolio. Array 1 = expense ratios. Array 2 = Portfolio Weight. Formula =SUMPRODUCT(Array1,Array2).
by dash1s
Wed Apr 18, 2018 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Flexible Spending Account Plan Year Overlap
Replies: 3
Views: 385

Re: Flexible Spending Account Plan Year Overlap

Plan year 2018 contribution limit is $2650. Not sure though if she still has the $1000 or it was forfeited when she left her former employer. Check IRS Publication 969 for more info: https://www.irs.gov/pub/irs-pdf/p969.pdf Pretty sure I read somewhere that you do not have to forfeit any FSA amount...
by dash1s
Tue Apr 10, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 3310

Re: 8606 form - am I filling it correctly?

Awesome. Got it. Thanks everyone.
by dash1s
Tue Apr 10, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 3310

Re: 8606 form - am I filling it correctly?

- Splitting the 5,500 between 4,650 in roth (believe this is the most I could do because of a reduced contribution limit) and 850 as a non-deductible traditional IRA contribution (whatever is left of the 5,500 that can not go directly into a roth). - There were no conversions that occurred in the c...
by dash1s
Tue Apr 10, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 3310

Re: 8606 form - am I filling it correctly?

Ah, interesting. Originally, I split them up with the understanding that $4,650 would be free and clear from the get go and that the $850 would be subject to the 5 year rule.

Thanks for point this out. I will take a read through of these documents.
by dash1s
Mon Apr 09, 2018 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 3310

Re: 8606 form - am I filling it correctly?

FiveK wrote:
Mon Apr 09, 2018 11:44 am
The $4650 and the Form 8606 Part I look correct.
Thank you very much.
by dash1s
Mon Apr 09, 2018 10:41 am
Forum: Personal Finance (Not Investing)
Topic: 8606 form - am I filling it correctly?
Replies: 32
Views: 3310

Re: 8606 form - am I filling it correctly?

This is my first year doing roth IRA and I normally do all my taxes by hand/excel…. I’m pretty sure I did this accurately, but would anyone just mind sanity checking my numbers -- my reduced roth ira contribution limit and reporting my basis on form 8606? Really would be much appreciated and Ive lea...
by dash1s
Tue Mar 13, 2018 6:56 pm
Forum: Personal Investments
Topic: Any reason not to open a 529? (young investor)
Replies: 21
Views: 2033

Re: Any reason not to open a 529? (young investor)

I do this already, even though we don't have kids yet. I figure we should save now when financial pressures are minimal (we're DINKs) and effective tax rates are high, and once we have kids and one/both of us take lower paying jobs, we can just watch the balance grow (compounding returns FTW). Righ...
by dash1s
Tue Mar 13, 2018 6:49 pm
Forum: Personal Investments
Topic: Any reason not to open a 529? (young investor)
Replies: 21
Views: 2033

Re: Any reason not to open a 529? (young investor)

I kick myself for not doing this at 22 for the all the reasons you listed below.
by dash1s
Wed Mar 07, 2018 8:35 pm
Forum: Personal Investments
Topic: Unused 529 account?
Replies: 13
Views: 1550

Re: Unused 529 account?

I would agree. But I would double check on how long you'll be able to avoid that 10% penalty due to the scholarship. Ie when does it expire.
by dash1s
Wed Mar 07, 2018 8:23 pm
Forum: Personal Investments
Topic: Unused 529 account?
Replies: 13
Views: 1550

Re: Unused 529 account?

I am not a 529 expert though have been trying to learn the in's and out's of these plans over the last month. Someone correct me if I am wrong but I was under the impression you are allowed to make a non-qualified distribution (to yourself) up to the amount of a college scholarship and penalty free....
by dash1s
Thu Feb 08, 2018 8:45 pm
Forum: Personal Consumer Issues
Topic: Scrapping old computer parts
Replies: 25
Views: 2249

Re: Scraping old computer parts

Steven in NC wrote:
Thu Feb 08, 2018 7:36 pm
If you decide to discard the hard drive just take a drill and drill a few holes right thru it.
+1.