Search found 177 matches

by SelfEmployed123
Wed Oct 10, 2018 7:15 am
Forum: Personal Finance (Not Investing)
Topic: self-employed professional - the best way to get things started?
Replies: 25
Views: 2229

Re: self-employed professional - the best way to get things started?

5. student loan - 500k together :x expect to pay it all off in 7 years. we thought about going after the student loan even more aggressively, but decided to invest instead. :sharebeer What is the interest rate on your student loans? Graduate loans tend to be around 6-7%. I'm inclined to agree with ...
by SelfEmployed123
Wed Oct 10, 2018 6:44 am
Forum: Personal Finance (Not Investing)
Topic: self-employed professional - the best way to get things started?
Replies: 25
Views: 2229

Re: self-employed professional - the best way to get things started?

2. i want to rollover existing 65k from my past employer - so should i open up solo 401k account? backdoor roth IRA? which retirement plan makes best sense for us? :confused we want to put aside about 4k monthly for our retirement accounts. i'm just not sure which one makes best sense for us... and...
by SelfEmployed123
Wed Oct 10, 2018 6:27 am
Forum: Personal Finance (Not Investing)
Topic: self-employed professional - the best way to get things started?
Replies: 25
Views: 2229

Re: self-employed professional - the best way to get things started?

1. i just watched interesting video about SEP IRA vs. solo 401k - https://www.youtube.com/watch?v=aJP6s04kPkI&t=531s does this apply to us? should i become an S corporation? what happens to my wife then? my employee? i like the idea of saving significant money on taxes. I'd definitely suggest you c...
by SelfEmployed123
Mon Oct 08, 2018 5:45 am
Forum: Personal Consumer Issues
Topic: Poll: BHs who rent - what % of gross do you spend on rent?
Replies: 84
Views: 6106

Re: Poll: BHs who rent - what % of gross do you spend on rent?

Was 19% two years ago but is currently 9% due to an increase in income. Dual income family of 3. We live in a MCOL East Coast city.
by SelfEmployed123
Wed Oct 03, 2018 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon Prime/Whole Foods/AMEX Blue Cash Preferred dilemma
Replies: 26
Views: 2165

Re: Amazon Prime/Whole Foods/AMEX Blue Cash Preferred dilemma

Tell me if I've omitted something that has skewed these answers. If not, I think the AMEX has to go. This whole analysis breaks down if you go out and spend more than you would have otherwise, which is what the credit card companies and Amazon are banking on. Can you make the changes and actually k...
by SelfEmployed123
Wed Oct 03, 2018 12:18 pm
Forum: Investing - Theory, News & General
Topic: Flattening yield curve
Replies: 55
Views: 4801

Re: FLATTENING YIELD CURVE

Anyone feel this is leading to RECESSION? There is a 100% chance that the yield curve will become inverted in the future. There is a 100% chance that there will be a recession in the future. No one knows when either will occur. The best course of action is to look at your asset allocation. Can you ...
by SelfEmployed123
Mon Oct 01, 2018 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: New Dual Physican Couple
Replies: 39
Views: 3400

Re: New Dual Physican Couple

Thanks everyone, I guess the last few years of the market have made me think that investing may be the better route as long as the loans are below 7-8% or so. It sounds like everyone is unanimous in agreeing to pay off her med school debt ASAP? You should check out the White Coat Investor. Both the...
by SelfEmployed123
Mon Oct 01, 2018 7:44 am
Forum: Investing - Help with Personal Investments
Topic: Is keeping your investment in a mutual fund above the minimum initial investment required?
Replies: 6
Views: 557

Re: Is keeping your investment in a mutual fund above the minimum initial investment required?

I called Vanguard this morning. A rep said that if the total fund balance falls below the minimum balance of $50,000 I would have one year to bring the balance up to the minimum. If that does not occur, they would sell me out of the fund into the settlement fund. I asked if that would still be the c...
by SelfEmployed123
Mon Oct 01, 2018 7:28 am
Forum: Investing - Help with Personal Investments
Topic: Is keeping your investment in a mutual fund above the minimum initial investment required?
Replies: 6
Views: 557

Re: Is keeping your investment in a mutual fund above the minimum initial investment required?

In addition to the safety, this fund is 100% state income tax free since it invests solely in Treasuries. That can make its yield at or near that of Prime money market depending on your state income tax situation. I had calculated the tax-adjusted return and this fund is lower than prime money mark...
by SelfEmployed123
Sat Sep 29, 2018 8:40 am
Forum: Investing - Help with Personal Investments
Topic: Is keeping your investment in a mutual fund above the minimum initial investment required?
Replies: 6
Views: 557

Re: Is keeping your investment in a mutual fund above the minimum initial investment required?

Interesting fund. Seems like a nice investment for your uses. I don't recall ever hearing about it before. And when I click on "browse Vanguard mutual funds by asset class", it is not listed. I've seen this before and do not know why some things are not listed. How did you happen upon it? We do kno...
by SelfEmployed123
Sat Sep 29, 2018 8:11 am
Forum: Investing - Help with Personal Investments
Topic: Is keeping your investment in a mutual fund above the minimum initial investment required?
Replies: 6
Views: 557

Is keeping your investment in a mutual fund above the minimum initial investment required?

This question is somewhat answered in a prior post from about 8 years ago https://www.bogleheads.org/forum/viewtopic.php?t=49569 , but the minimums are very different so I thought I'd double check. The DW and I are saving up for a house downpayment. We hope to buy a house sometime in the middle of n...
by SelfEmployed123
Fri Sep 28, 2018 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Public Student Loan Forgiveness Program Rejects 99% of Applicants
Replies: 27
Views: 2398

Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

wabbajack wrote:
Fri Sep 28, 2018 7:57 am
Headlines may be misleading.
Thanks for posting. I hadn't seen that article. Clearly you have to have all of your ducks in a row to have a shot of making this program work.
by SelfEmployed123
Fri Sep 28, 2018 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Public Student Loan Forgiveness Program Rejects 99% of Applicants
Replies: 27
Views: 2398

Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

There have been many stories recently in the media regarding the Public Student Loan Forgiveness Program. The program was created 10 years ago, so the first round of applicants have been applying for loan forgiveness starting this year. As this story from the New York Times shows, 99 percent of app...
by SelfEmployed123
Fri Sep 28, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Public Student Loan Forgiveness Program Rejects 99% of Applicants
Replies: 27
Views: 2398

Re: Public Student Loan Forgiveness Program Rejects 99% of Applicants

The program should not have been created in the first place. If you take out a student loan, expect to pay it back. People should not expect to get a free college education. Regardless of what one thinks about the program, the program exists. It is clearly not a viable option for the vast majority ...
by SelfEmployed123
Fri Sep 28, 2018 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Public Student Loan Forgiveness Program Rejects 99% of Applicants
Replies: 27
Views: 2398

Public Student Loan Forgiveness Program Rejects 99% of Applicants

There have been many stories recently in the media regarding the Public Student Loan Forgiveness Program. The program was created 10 years ago, so the first round of applicants have been applying for loan forgiveness starting this year. As this story from the New York Times shows, 99 percent of appl...
by SelfEmployed123
Tue Sep 25, 2018 8:46 pm
Forum: Investing - Help with Personal Investments
Topic: JP Morgan Structured Investments - What am I missing?
Replies: 20
Views: 1460

Re: JP Morgan Structured Investments - What am I missing?

This particular structured note cannot be simulated well with standard options, because of the abrupt drop; you lose nothing if the market drops 49%, but 50% if the market drops 50%. And this is a very undesirable property for an investment, as it will give you no downside protection precisely when...
by SelfEmployed123
Wed Sep 19, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Physical Banking - Any benefits anymore?
Replies: 139
Views: 8726

Re: Physical Banking - Any benefits anymore?

Hello everyone Regarding physical banks. The way I use my bank is very simple: -I deposit my paycheck -Pay bills from it -I take out cash from ATMs. -Would rarely (almost never?) have to deposit cash so that's not a concern. I currently have a TD Bank with a $2,500 minimum balance and I get reimbur...
by SelfEmployed123
Sat Sep 15, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 10302

Re: Massive Student Loan Debt - Fiancee

smitcat wrote:
Sat Sep 15, 2018 5:51 am
And it appears that the OP placed one post and has not returned.....
True, but hopefully he will be back. Even if he does not read the comments, this is a very common issue. I am sure many lurkers will read the many helpful comments above.
by SelfEmployed123
Wed Sep 12, 2018 6:19 pm
Forum: Investing - Help with Personal Investments
Topic: Investment/Financial Plan Advice
Replies: 13
Views: 1260

Re: Investment/Financial Plan Advice

Thank you for your suggestions. I plan on keeping most of the money in the savings account for purchases I plan on making within 5 years and investing the rest in the Roth and in the taxable investment account. I will be rolling over money from a retirement account from a previous employer, that is...
by SelfEmployed123
Wed Sep 12, 2018 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k at Wells Fargo
Replies: 7
Views: 492

Re: Solo 401k at Wells Fargo

That sounds pretty confusing. I opened a solo 401k with Fidelity earlier this year. They have just one account for all contributions (employee and employer). Making contributions to the account are a bit of a pain. You have to do a bank transfer into a separate Fidelity Cash Management account, wait...
by SelfEmployed123
Tue Sep 11, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Options/Suggestions.
Replies: 99
Views: 10160

Re: Side Hustle Options/Suggestions.

I have seen someone advertising a course on how to start a home based accounting business, but the price was like $1,300 around Christmas, but has now been updated and costs $1,999. I was debating paying for it and trying to get two clients a month that pay $300 each, and the course pays for itself...
by SelfEmployed123
Tue Sep 11, 2018 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Options/Suggestions.
Replies: 99
Views: 10160

Re: Side Hustle Options/Suggestions.

I have seen someone advertising a course on how to start a home based accounting business, but the price was like $1,300 around Christmas, but has now been updated and costs $1,999. I was debating paying for it and trying to get two clients a month that pay $300 each, and the course pays for itself...
by SelfEmployed123
Tue Sep 11, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Options/Suggestions.
Replies: 99
Views: 10160

Re: Side Hustle Options/Suggestions.

CPA/bookkeeping is a side hustle that may be harder to get started, but offer better monetary compensation and better work/life balance. It is also something that may eventually become your main occupation, while your uber hustle should never become your primary paycheck. Yes that is a long term go...
by SelfEmployed123
Tue Sep 11, 2018 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else playing catch-up in their 40's?
Replies: 68
Views: 7319

Re: Anyone else playing catch-up in their 40's?

It seems most of the ppl here started saving diligently in their 20's or 30's....are there others here who didn't "wake up" like me until they were in their 40's or beyond? Just curious. Lots of people here seem to have only gotten focused on saving and investing in their 40s. I'm in my mid 30s and...
by SelfEmployed123
Sun Sep 09, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401(k) Questions (and sanity check)
Replies: 22
Views: 1385

Re: Solo 401(k) Questions (and sanity check)

I've had a vanguard plan for a few years and it works fine. I have heard it is not a good plan if you want to employ your child and may be inflexible in other aspects. But if it is just you I've had no issues. I've heard fidelity requires an actual check for contributions (which seems odd and I can...
by SelfEmployed123
Sun Sep 09, 2018 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401(k) Questions (and sanity check)
Replies: 22
Views: 1385

Re: Solo 401(k) Questions (and sanity check)

I've had a vanguard plan for a few years and it works fine. I have heard it is not a good plan if you want to employ your child and may be inflexible in other aspects. But if it is just you I've had no issues. I've heard fidelity requires an actual check for contributions (which seems odd and I can...
by SelfEmployed123
Fri Sep 07, 2018 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10152

Re: Max you should invest in a 529?

I again wanted to thank the folks in this thread. It has caused me to do some research into my state's 529 (Maryland). As a result, I discovered Maryland matches contributions from $250 to $500 depending on adjusted gross income. I'd encourage others to look into this as there may be free money on t...
by SelfEmployed123
Fri Sep 07, 2018 6:14 am
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10152

Re: Max you should invest in a 529?

The reason for the discrepancy is how the Feds calculate expected family contributions. 401k and IRA assets are not counted among family assets, but 529 assets are. In your example, I can almost guarantee the federal "aid" will be in the form of a loan... maybe not even a subsidized loan. It was ju...
by SelfEmployed123
Fri Sep 07, 2018 6:00 am
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10152

Re: Max you should invest in a 529?

Only 5.64% of the assets in parent-owned 529s count towards FAFSA, which is a lot better than Roth IRAs - for the first year and a half of their school, anyway. Other than the blog post that was cited, I cannot find any support for the 5.64% figure on federal websites. See for example here https://...
by SelfEmployed123
Fri Sep 07, 2018 5:44 am
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10152

Re: Max you should invest in a 529?

The reason for the discrepancy is how the Feds calculate expected family contributions. 401k and IRA assets are not counted among family assets, but 529 assets are. See here for details if you want to run your own numbers: https://ifap.ed.gov/efcformulaguide/attachments/1920EFCFormulaGuide.pdf Peop...
by SelfEmployed123
Thu Sep 06, 2018 9:28 pm
Forum: Investing - Help with Personal Investments
Topic: Max you should invest in a 529?
Replies: 181
Views: 10152

Re: Max you should invest in a 529?

Folks, For many of us, our income is low enough and we may not have the job security, Roth IRAs is the perfect answer for college education funding. 11K X 18 years = 198K. This is more than enough. We get tax-free growth and we could use the contribution as the emergency fund. And, it would not aff...
by SelfEmployed123
Thu Sep 06, 2018 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: Investment/Financial Plan Advice
Replies: 13
Views: 1260

Re: Investment/Financial Plan Advice

I am 23 yrs old and currently a grad student getting a master's degree in the helping professions, receiving a stipend. Luckily I have not accrued any student debt, and have saved upwards of 45K in my saving account. I have been reading about personal finance for the past 7 months and really need t...
by SelfEmployed123
Wed Sep 05, 2018 4:00 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Help. They are removing index funds.
Replies: 28
Views: 2070

Re: 401k Help. They are removing index funds.

Thanks all. My wife wasn't comfortable being as confrontational as I wanted to be. I can get overly emotional about these sorts of things. And I know emotion has no place in long-term investing. Looks like she's going with this: "Thank you for the prompt response. I really appreciate you help with ...
by SelfEmployed123
Sun Sep 02, 2018 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio for 35 year old
Replies: 21
Views: 2224

Re: Portfolio for 35 year old

Do you think you will sell at the next crash or ride it out? I don't think I will, but I can't say for sure. They say you can't really know that until the next crash happens. I survived 2008/2009 so I know I won't sell. But I might not be able to sleep at night! Also, I don't see any allocation for...
by SelfEmployed123
Sun Sep 02, 2018 10:54 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio for 35 year old
Replies: 21
Views: 2224

Re: Portfolio for 35 year old

Hey there, thanks for reading my post! My question is should I reduce risk and move some money to bonds/money market/REITs/utilities or stay with my current all-stock portfolio? About me: I'm 35 and have $500,000 in investments. I'm in New York so owning property isn't possible so I have to rent - ...
by SelfEmployed123
Sat Sep 01, 2018 6:09 am
Forum: Personal Consumer Issues
Topic: How do you save money on groceries?
Replies: 155
Views: 9929

Re: How do you save money on groceries?

So many people to reply to! Thanks for the tips on Aldi and Trader Joes. I didn't know they made a vegetable pasta too. My daughter loves that stuff but I hate the price. So I will check it out. I just hope I don't end up spending all day on Saturday running to multiple stores. That can be annoying...
by SelfEmployed123
Mon Aug 27, 2018 8:06 am
Forum: Investing - Help with Personal Investments
Topic: Little love for Small and Mid Cap ETFs in a "minimalist" portfolio?
Replies: 18
Views: 940

Re: Little love for Small and Mid Cap ETFs in a "minimalist" portfolio?

If you are saving regularly, you could do far worse than investing all of your equities in the S&P 500. Past results do not guarantee future performance. Do you have any reason to believe these trends will continue? Also, I feel like a majority of people in this forum advocate buying a total stock m...
by SelfEmployed123
Sun Aug 26, 2018 11:28 am
Forum: Investing - Help with Personal Investments
Topic: Personal Retirement Fund Dilemma (No Employer Option)
Replies: 7
Views: 564

Re: Personal Retirement Fund Dilemma (No Employer Option)

Thank you for the advice! To clear up my perceived "risk" - I was simply thinking that if I could get all of my money into 1 account (instead of 2 or 3) that it would grow and compound faster (even by taking a small penalty now). Example - One $60,000 account instead of Two $35,000 accounts. Sounds...
by SelfEmployed123
Sun Aug 26, 2018 9:32 am
Forum: Investing - Theory, News & General
Topic: Call the Top!
Replies: 82
Views: 9374

Re: Call the Top!

Exercise in futility, but why not give it a go? 4921
by SelfEmployed123
Sun Aug 26, 2018 9:21 am
Forum: Investing - Help with Personal Investments
Topic: Personal Retirement Fund Dilemma (No Employer Option)
Replies: 7
Views: 564

Re: Personal Retirement Fund Dilemma (No Employer Option)

Backstory: I am 30 years old and married. My wife has a 401k with her company that is maxed out each year with our contribution. I have been following her career and have thus held 4 jobs in the past 8 years. Only one of those jobs (my first) offered retirement benefits. I have a 401k with TRowe Pr...
by SelfEmployed123
Wed Aug 22, 2018 8:25 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Zero ER Funds are underperforming their equivalent premium class index funds
Replies: 59
Views: 7331

Re: Fidelity Zero ER Funds are underperforming their equivalent premium class index funds

I had originally included FSIVX because that was what the Bogleheads wiki said to invest in for the 3 fund Portfolio. I did run the numbers comparing FTIPX to FZILX. Both funds decreased over the short time period, but FTIPX decreased by 68 fewer basis points. I really do wonder whether 68 basis po...
by SelfEmployed123
Wed Aug 22, 2018 7:31 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Zero ER Funds are underperforming their equivalent premium class index funds
Replies: 59
Views: 7331

Re: Fidelity Zero ER Funds are underperforming their equivalent premium class index funds

1. I'd say the difference between ZERO Total Market and Premium Total Market is within possible rounding error. 2. ZERO International has emerging markets, so it should be compared to FTIPX, as mervinj7 points out. Once you do that, I think you'll see little to no difference. I had originally inclu...
by SelfEmployed123
Wed Aug 22, 2018 6:24 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Zero ER Funds are underperforming their equivalent premium class index funds
Replies: 59
Views: 7331

Fidelity Zero ER Funds are underperforming their equivalent premium class index funds

[The facts in this post are incorrect, see comments below --admin LadyGeek] Fidelity investor here. I recall reading through all of the posts after Fidelity announced their Zero ER funds a few weeks ago. It's been about 3 weeks, so I wanted to check in and see if I should jump on the bandwagon and ...
by SelfEmployed123
Wed Aug 22, 2018 2:22 pm
Forum: Investing - Theory, News & General
Topic: Oversimplifying expected return on rental properties
Replies: 12
Views: 1151

Re: Oversimplifying expected return on rental properties

Two huge assumptions 1. Your rental income will equal the combined costs of the mortgage, property tax, maintenance, property manager (if any), and any other cost. In other words zero net cash flow. 2. The price of the property can be expected to keep up with inflation over the long term. With thos...
by SelfEmployed123
Wed Aug 22, 2018 10:31 am
Forum: Investing - Theory, News & General
Topic: Oversimplifying expected return on rental properties
Replies: 12
Views: 1151

Re: Oversimplifying expected return on rental properties

Two huge assumptions 1. Your rental income will equal the combined costs of the mortgage, property tax, maintenance, property manager (if any), and any other cost. In other words zero net cash flow. 2. The price of the property can be expected to keep up with inflation over the long term. With thos...
by SelfEmployed123
Tue Aug 21, 2018 5:12 pm
Forum: Investing - Theory, News & General
Topic: New Roth 401k option and closer to retirement than not.
Replies: 5
Views: 572

Re: New Roth 401k option and closer to retirement than not.

We would be better able to answer your question if you provide the below information: 1) Current marginal state and federal tax rate 2) Expected marginal state and federal tax rate in retirement (this depends on how much income per year you expect to have as well as whether you will be moving to a h...
by SelfEmployed123
Tue Aug 21, 2018 8:14 am
Forum: Personal Finance (Not Investing)
Topic: PCP Wants Full Charge Up Front [Primary Care Physician]
Replies: 108
Views: 6643

Re: PCP Wants Full Charge Up Front [Primary Care Physician]

My doctor stopped accepting insurance, as did my husband's. It sounds like yours should too, given their collections problems. I understand that the policy seems unfair to you, since you have a low copay, but they wouldn't be implementing this policy if the majority of their patients had low copays...
by SelfEmployed123
Mon Aug 20, 2018 6:05 am
Forum: Investing - Help with Personal Investments
Topic: How to Begin with 1M
Replies: 117
Views: 14864

Re: How to Begin with 1M

Welcome to the forum. You're in great shape overall, once you fire that advisor and simplify. Here's my recommendation for starting out: Of course, the very first step is to fire your advisor immediately. Send a polite but firm thank you note saying their services are no longer needed. Then, 1. Kee...
by SelfEmployed123
Sun Aug 19, 2018 6:49 am
Forum: Investing - Theory, News & General
Topic: How to Underperform the Market
Replies: 48
Views: 4993

Re: How to Underperform the Market

Kahneman has written about “expert intuition” that can require much experience, often many years in one field, to make extremely fast, but correct decisions. So the intuition of System 1 does not always lead to poor decisions. This is true, but I don't think investing is a domain where expert intui...
by SelfEmployed123
Sat Aug 18, 2018 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Your major and investing/finance?
Replies: 99
Views: 5116

Re: Your major and investing/finance?

I'm a clinical psychologist. During my training I was interested in cognition and the role of rational versus intuitive decision making (see Kahneman and Tversky). Their work on cognitive bias and heuristics has been very influential. Kahneman eventually won the Nobel Prize for this work, the only p...