Search found 141 matches

by willyd123
Mon Dec 02, 2019 7:56 am
Forum: Personal Investments
Topic: ESPP Charitable Donation Tax Question
Replies: 3
Views: 216

Re: ESPP Charitable Donation Tax Question

AwesomeA - This is a great question. I did some research and I could not find a clear answer. But I believe you would consider this donation as two components - 1. the discount portion of the gain and 2. the remaining amount of the gain. For the discount portion, I believe that you need to always re...
by willyd123
Mon Nov 25, 2019 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 1146
Views: 320296

Re: Share your net worth progression

I've tracked this since 1995... 1995 $180,282 1996 $227,727 1997 $312,335 1998 $413,125 1999 $672,846 2000 $720,729 2001 $725,517 2002 $773,543 2003 $1,104,246 2004 $1,496,559 2005 $2,114,260 2006 $2,820,771 2007 $2,933,113 2008 $2,460,812 2009 $3,446,791 2010 $3,275,024 2011 $3,399,804 2012 $4,073,...
by willyd123
Thu Nov 21, 2019 8:09 am
Forum: Personal Investments
Topic: HSA Choices, Why the 2 options?
Replies: 7
Views: 680

Re: HSA Choices, Why the 2 options?

The point I tried to make which is that the premiums you pay via payroll deductions that your employer takes for the medical plan are pre tax (i.e., they reduce your taxable income). So plan 1 has premiums which total $1,690 annually ($65 X 26). If you are say in the 24% tax bracket, the actual net ...
by willyd123
Wed Nov 20, 2019 11:57 am
Forum: Personal Investments
Topic: HSA Choices, Why the 2 options?
Replies: 7
Views: 680

Re: HSA Choices, Why the 2 options?

I would go with 1. because the premiums are pretax which means the difference between the two plans is ((($65-$42) X 26) X (1 - your marginal tax rate) and the HSA contribution is tax free (assuming you use it for qualified medical expenses).
by willyd123
Wed Nov 13, 2019 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 976

Re: Retiring in early 2020, want to stuff preferred tax vehicles?

I think what "cas" wrote about only being able to contribute 2/12s of the annual HSA maximum is correct assuming that the person moves from a HDHP to a non-HDHP after he retires in February and stays on a non-HDHP for the remainder of the year. However, If he continues on an HDHP then he can make th...
by willyd123
Wed Nov 13, 2019 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 976

Re: Retiring in early 2020, want to stuff preferred tax vehicles?

You are permitted to contribute to both a tIRA and a Roth IRA in the same year but the combined contribution cannot exceed the 2019 limit of $6,000 (+$1,000 catch up if 50 or over).
by willyd123
Wed Nov 13, 2019 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Retiring in early 2020, want to stuff preferred tax vehicles?
Replies: 15
Views: 976

Re: Retiring in early 2020, want to stuff preferred tax vehicles?

I am in a very similar situation except that I am retiring in the first week of January. I asked my company's payroll person (and they agreed) to deduct a full 2020 401(k) contribution of $26,000 as well as a full HSA contribution of $8,100 from my January 15, 2020 check (I am getting an abnormally ...
by willyd123
Fri Nov 08, 2019 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Just learned something about HSAs and independent children that I did not know
Replies: 42
Views: 4229

Re: Just learned something about HSAs and independent children that I did not know

It is definitely a planning opportunity I would consider. The only unfortunate thing is that presumably she will be in a pretty low tax bracket and thus the contribution she makes will not have a huge tax benefit at least initially. The good news is that if she continues contributing and investing o...
by willyd123
Mon Nov 04, 2019 5:54 am
Forum: Personal Consumer Issues
Topic: [Upgrading from an AT&T iPhone 6]
Replies: 15
Views: 770

[Upgrading from an AT&T iPhone 6]

BHs - I have an Apple iPhone 6 and despite having changed the battery, the battery life is so short that I think I really need to upgrade. I do want to stick with an iPhone and I think we should probably stay with AT&T. So two questions: (1) What is the lowest version of an iPhone I should get balan...
by willyd123
Thu Oct 24, 2019 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Putting money into HSA
Replies: 6
Views: 538

Re: Putting money into HSA

Hello - Here's a basic summary of who's eligible. Under the law, an eligible individual: -Must be 18 years of age or older -Must be covered under a qualified high-deductible health plan (HDHP) on the first day of a certain month -May not be covered under any health plan that is not a qualified HDHP ...
by willyd123
Sun Oct 20, 2019 7:27 am
Forum: Personal Investments
Topic: Two HSA Questions
Replies: 16
Views: 1157

Re: Two HSA Questions

Hello - I'm not sure I understand your first question. Contributing to an HSA will reduce your taxable income regardless of whether you have enough deductions to eclipse the standard deduction amount. HSA contributions are not itemized deductions. HSA contributions are deductions from income like 40...
by willyd123
Fri Oct 11, 2019 10:35 am
Forum: Investing - Theory, News & General
Topic: Payment for Order Flow
Replies: 7
Views: 641

Re: Payment for Order Flow

Thank you. Very helpful.
by willyd123
Fri Oct 11, 2019 8:57 am
Forum: Investing - Theory, News & General
Topic: Payment for Order Flow
Replies: 7
Views: 641

Payment for Order Flow

BHs - I watched an interview with Kathleen Murphy of Fidelity Investments on CNBC this morning where she was discussing Fidelity's move to zero commissions. She mentioned that in addition to this move, Fidelity also pays higher interest on cash (a topic that is regularly posted about in this site) A...
by willyd123
Sat Sep 28, 2019 7:30 am
Forum: Investing - Theory, News & General
Topic: How much cash do you keep in your HSA?
Replies: 63
Views: 4885

Re: How much cash do you keep in your HSA?

I am 100% invested, no cash. Some HSA administrators require a minimum cash balance be held but LivelyHSA does not which is who administers my HSA. Utilizing an HSA like a retirement asset rather than a spending asset at least until you enroll in Medicare can be financially very beneficial.
by willyd123
Fri Sep 27, 2019 11:57 am
Forum: Personal Finance (Not Investing)
Topic: FSA after leaving job: FSA loophole?
Replies: 26
Views: 1655

Re: Fsa after leaving job: Fsa loophole?

It is definitely legal and the company won't come after you. They probably won't ever even know you did this unless they really did their research and they'd have no reason to do that anyway. You should definitely spend all you can before you leave.
by willyd123
Fri Sep 27, 2019 8:42 am
Forum: Personal Investments
Topic: Roth IRA Conversion
Replies: 29
Views: 1977

Re: Roth IRA Conversion

I am in a similar position as you are. I have looked at this nine ways from Sunday, have run many models, read many of the BH posts on the topic, etc. And here's what I plan to do (would love other BHs to poke holes): I plan to do conversions from age 60 (I'll be retired) to age 69 when I plan to co...
by willyd123
Wed Sep 25, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Restricted Stock Award Benchmarks
Replies: 12
Views: 688

Re: Restricted Stock Award Benchmarks

This is one of the areas I manage for a Fortune 500 company: Quantum - The quantum or size of the award is going to be highly dependent on the role, size of the business, industry, etc. For our company, only some Directors would get RSU awards, and the amounts would be nominal (maybe $20,000 in gran...
by willyd123
Thu Sep 05, 2019 6:06 am
Forum: Personal Investments
Topic: Income From Equity ETFs & Mutual Funds
Replies: 2
Views: 326

Income From Equity ETFs & Mutual Funds

Hello - Situation: I am nearing retirement and am comfortable that I have adequate assets so now I am focusing on how to tap the assets to meet expenses. Last year my equity ETFs and mutual funds that are held in my after tax accounts generated about $75,000 in dividend income. This along with my pe...
by willyd123
Sun Aug 25, 2019 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP Dropped by Health Care Organization
Replies: 9
Views: 962

Re: HDHP Dropped by Health Care Organization

By the way, you should write an email to your head of HR that you would really appreciate it if they would consider adding back a HDHP option for people like yourself.
by willyd123
Sun Aug 25, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP Dropped by Health Care Organization
Replies: 9
Views: 962

Re: HDHP Dropped by Health Care Organization

Again, it is all about the organizations objectives and ultimate plan design. In our case, the actuarial value of the HDHP is actually higher than the old traditional plan which means the new HDHP plan will actually pay more of the total plan costs than the old plan. With our company's plan design, ...
by willyd123
Sun Aug 25, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: HDHP Dropped by Health Care Organization
Replies: 9
Views: 962

Re: HDHP Dropped by Health Care Organization

I am responsible for designing the benefits plans at my employer. Two years ago, our company went to a design that includes ONLY HDHPs. However, we designed the plans to do as much as possible to address the affordability issue by providing substantial front loaded company funded seeding into employ...
by willyd123
Fri Aug 23, 2019 12:49 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 43
Views: 6220

Re: Roll Call for the Retirement Class of 2020!

I will be leaving the corporate world on January 2nd. I got them to push my bonus that would have been paid in late 2019 into 2020 for tax reasons which is the reason I plan to stay until then.
by willyd123
Fri Aug 23, 2019 12:29 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 43
Views: 6220

Re: Roll Call for the Retirement Class of 2020!

I will be leaving the corporate world on January 2nd. I got them to push my bonus that would have been paid in late 2019 into 2020 for tax reasons which is the reason I plan to stay until then.
by willyd123
Thu Aug 01, 2019 7:06 am
Forum: Personal Finance (Not Investing)
Topic: HSA match not showing on pay stub
Replies: 16
Views: 798

Re: HSA match not showing on pay stub

Hello - A company contribution to an employees' HSA should not show up in your pay stub as income but rather as an employer paid benefit in terms of the records. When your payroll department issues your W-2, they will need to include both your and their contributions that went to your HSA through th...
by willyd123
Wed Jul 24, 2019 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Use HSA or pay Out Of Pocket?
Replies: 30
Views: 2056

Re: Use HSA or pay Out Of Pocket?

Not sure if we are helping or confusing but I can tell you that I'd much rather contribute to an HSA due to it's triple tax favorability than a Roth. Yes, the tax deduction is a one time event (of course) but the Roth never provides a tax deduction.
by willyd123
Wed Jul 24, 2019 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Use HSA or pay Out Of Pocket?
Replies: 30
Views: 2056

Re: Use HSA or pay Out Of Pocket?

The main difference is that if you contribute to a Roth, the contribution will NOT reduce your taxable income when you make the contribution. On the other hand, your contributions to an HSA DO reduce your taxable income. So with an HSA, you get a tax deduction when you make the contribution and you ...
by willyd123
Wed Jul 24, 2019 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Use HSA or pay Out Of Pocket?
Replies: 30
Views: 2056

Re: Use HSA or pay Out Of Pocket?

Hello - Some people save receipts for qualified medical expenses for years so that if at any time in the future they want to pull money from their HSA they can do so up to the smaller of their total expenses backed up by the receipts or their HSA balance. By way of an example, assume that you opened...
by willyd123
Wed Jul 24, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Where should I open my HSA? Fidelity?
Replies: 20
Views: 1087

Re: Where should I open my HSA? Fidelity?

I've used LivelyHSA for about two years and have been very pleased. They, just like Fidelity, do not charge fees. With Lively, you can also invest 100% of your HSA assets (they don't have a minimum cash holding requirement) and you invest through their partner TD Ameritrade who offers plenty of comm...
by willyd123
Tue Jul 23, 2019 12:39 pm
Forum: Personal Investments
Topic: HSA strategies
Replies: 5
Views: 725

Re: HSA strategies

Hello - 1. Given that myself and kids will not be on HSA starting August and I have already contributed about $4000 to our HSA plan, will we be penalized come tax time since we did not have HSA throughout the year? If you are covered under a high deductible health plan for a portion of the year you ...
by willyd123
Tue Jul 09, 2019 9:13 am
Forum: Personal Investments
Topic: Roth Conversions - Thoughts?
Replies: 6
Views: 668

Re: Roth Conversions - Thoughts?

Thanks again to both of you. Always good to get reactions from others on these things. To Homestretch, On my pre-Medicare medical coverage plan, as you probably know there are no great choices but after thinking about and analyzing the various options (e.g., no coverage, ACA plan, short-term plan, r...
by willyd123
Tue Jul 09, 2019 7:35 am
Forum: Personal Investments
Topic: Roth Conversions - Thoughts?
Replies: 6
Views: 668

Re: Roth Conversions - Thoughts?

Good point from you both on the impact to Medicare. I always think about that in terms of age 65 and always forget the two year look back. I will probably pay more due to the conversions (if I do them) but the increment is not real huge so I'd factor that in but I don't think it'd be enough to chang...
by willyd123
Tue Jul 09, 2019 6:57 am
Forum: Personal Investments
Topic: HSA Account - should I open Fidelity?
Replies: 8
Views: 1086

Re: HSA Account - should I open Fidelity?

Hello - I think picking one administrator that you plan to use for your and your wife's HSA for the long haul makes a lot of sense. So I'd research Fidelity and Lively and any others and determine which of those you think would be best and move all of your and your wife's HSA assets there. And then ...
by willyd123
Tue Jul 09, 2019 6:24 am
Forum: Personal Investments
Topic: Roth Conversions - Thoughts?
Replies: 6
Views: 668

Roth Conversions - Thoughts?

Hello BHs - I've gotten so much from reading the thoughts in this website I was hoping to tap this group again on an issue I am grappling with (Roth Conversions). Situation: Age: 57 (married) Planned Retirement Age: 58 After Tax Assets: ~$4.8M Retirement Assets: ~$1.7M I’ve done a fair amount of thi...
by willyd123
Fri Jul 05, 2019 1:15 pm
Forum: Personal Investments
Topic: Multiple HSA Account Question
Replies: 9
Views: 756

Re: Multiple HSA Account Question

Hello - I have my core HSA with Lively. I like Lively because they don't charge fees, you can invest all of your assets (no minimum amount that has to be kept in cash) and you invest via TD Ameritrade where you can find low expense ratio and no commission investments. I am still employed and I have ...
by willyd123
Wed Jun 05, 2019 12:39 pm
Forum: Personal Consumer Issues
Topic: Healthcare
Replies: 8
Views: 1065

Re: Healthcare

Agreed but theoretically, if a person wasn't enrolled in any medical plan, came down with a medical issue and say this occurred a few months prior to the ACA open enrollment period. At that point, couldn't they enroll in an ACA plan and be fully covered from that point on? I am not advocating for th...
by willyd123
Wed Jun 05, 2019 12:34 pm
Forum: Personal Consumer Issues
Topic: Dental & Vision Coverage
Replies: 16
Views: 1499

Re: Dental & Vision Coverage

Very helpful. Thanks to all...
by willyd123
Wed Jun 05, 2019 8:40 am
Forum: Personal Consumer Issues
Topic: Dental & Vision Coverage
Replies: 16
Views: 1499

Dental & Vision Coverage

Hello BHs - I will be retiring early soon and am getting prepared to manage the absence of company-provided-subsidized medical, dental and vision coverage. I am clear on how to handle medical coerage but I have not spent any time thinking about Dental and Vision coverage. As background, my wife and ...
by willyd123
Tue Jun 04, 2019 8:39 pm
Forum: Personal Consumer Issues
Topic: Healthcare
Replies: 8
Views: 1065

Re: Healthcare

Thank you very much.
by willyd123
Tue Jun 04, 2019 2:48 pm
Forum: Personal Consumer Issues
Topic: Healthcare
Replies: 8
Views: 1065

Healthcare

This question has probably been asked before but I couldn't find the answer... If you go onto a non-ACA-compliant medical plan (aka "temporary plan" which have pre existing exclusions, plan payment caps, etc.) and you came down with a serious illness, would you be able to drop the temporary plan cov...
by willyd123
Tue Jun 04, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at 56?
Replies: 34
Views: 6247

Re: Can I retire at 56?

I happen to be in a pretty similar situation except that I am 58. You can absolutely retire. You haven't even mentioned Social Security which will be here for you despite all the fear mongering. Many people don't factor in these benefits into their planning but if you and your wife's earnings histor...
by willyd123
Thu May 23, 2019 2:03 pm
Forum: Personal Consumer Issues
Topic: Short (3 night) Catamaran Charter in USVI or BVI
Replies: 14
Views: 1254

Re: Short (3 night) Catamaran Charter in USVI or BVI

Hello - In terms of a boat, you might try The Moorings. You can select a boat as well as crewed or not, etc. We had a 7 day trip scheduled but we canceled due to the hurricanes. In terms of your time on land, you may already have a place figured out but in the event you do not, we love staying at Gr...
by willyd123
Sun May 19, 2019 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Self Employment Taxes
Replies: 3
Views: 309

Re: Self Employment Taxes

Ah, very good. Thanks.
by willyd123
Sun May 19, 2019 6:04 am
Forum: Personal Finance (Not Investing)
Topic: Self Employment Taxes
Replies: 3
Views: 309

Self Employment Taxes

Hello BHs - I am trying to help a relative who just started working as a contractor in April. I used a tax calculator and the results show that she would owe $3,725 in self employment taxes (Social Security and Medicare) and another $1,294 in Federal income taxes for all of 2019 assuming she continu...
by willyd123
Mon Apr 22, 2019 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 4013

Re: Social Security Benefits Strategy

Have any of you seen any data from any organization of any repute that might suggest an age beyond which you would likely not be impacted by future reductions to benefits that may be legislated?
by willyd123
Mon Apr 22, 2019 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 4013

Re: Social Security Benefits Strategy

Bacchus, Svensk and Jack all make great points. Thanks.
by willyd123
Mon Apr 22, 2019 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 4013

Re: Social Security Benefits Strategy

Silk -

That's actually what I am doing, trying to complete my financial plan as I am planning to retire soon. One of the inputs is the cash flow from Social Security which is why I am trying to figure this out.
by willyd123
Mon Apr 22, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 4013

Social Security Benefits Strategy

Hello BHs - This is a worn out topic I know but just wanted to get your thoughts on SS benefits and when to commence. According to the Open Social Security Model, I should: - Have my spouse file her retirement benefit to begin 2/2027 at age 62 and 1 month - File for my retirement benefit to begin 1/...
by willyd123
Tue Mar 26, 2019 5:00 am
Forum: Personal Investments
Topic: HSA Investment Options
Replies: 15
Views: 913

Re: HSA Investment Options

I can tell you for sure that employers do in some cases pick up the investment fees (and / or admin fees) or portions thereof. My employer picks up 2/3s of the investment fees for example.
by willyd123
Mon Mar 25, 2019 10:55 am
Forum: Personal Investments
Topic: HSA Investment Options
Replies: 15
Views: 913

Re: HSA Investment Options

Hello - I sincerely hope you are right about no fees being charged but that is very surprising because Health Equity typically does charge fees for investing. Maybe your employer is picking these up on behalf of the employees which companies sometimes do. In terms of your investment choice, if you a...
by willyd123
Thu Mar 14, 2019 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Retiring Early and losing RSUs
Replies: 32
Views: 2797

Re: Retiring Early and losing RSUs

Hello - My role at my company is to manage the RSU plan, among other things. Very few companies will violate the plan provisions directly as this creates all sorts of legal risk. However, in my experience it is quite common that if a company wants an employee to "move on" on the company's desired ti...