Search found 82 matches

by dkb140
Fri Oct 02, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Potential Family Land Sale - 120 Acres Austin, TX Area
Replies: 51
Views: 5595

Re: Potential Family Land Sale - 120 Acres Austin, TX

Hello Fellow Bogleheads, Have a situation I would like some peer opinions on to ensure we are not missing anything in our analysis. My family has had a tract of land in our family for over 100 years, just outside of Austin, TX. It is ~120 acres, Ag-exempt, we have a small company that pays us to fa...
by dkb140
Fri Oct 02, 2020 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA Contribution Tax-Deductible?
Replies: 15
Views: 668

Re: Traditional IRA Contribution Tax-Deductible?

Assuming those numbers are accurate, yes, you will be toward the bottom of the phase-out range, so will be able to deduct most of your contribution. Your calculation looks spot-on; for the benefit of other readers, it goes like this: Deductible amount = $6,000 x ($75,000 - $66,300) / ($75,000 - $65...
by dkb140
Fri Oct 02, 2020 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA Contribution Tax-Deductible?
Replies: 15
Views: 668

Re: Traditional IRA Contribution Tax-Deductible?

Alright, trying this again. I now believe: Gross Income - 401k Contributions - HSA Contributions - Health/Dental/Vision Insurance pre-tax deductions = MAGI 90000 -19500 - 3050 - 1150 66300 So it looks like I will be at the beginning of the phase-out zone? So roughly 87% of a tIRA contribution this y...
by dkb140
Thu Oct 01, 2020 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I quit high paying job?
Replies: 144
Views: 17541

Re: Should I quit high paying job?

[Situation updated, see next page. --admin LadyGeek] My boss yells at me and berates me all the time; he only does it when no one is looking. He finds fault with everything I do. I feel like he is set on seeing me fail and he is set on ruining my career. He does not give me visible projects, steals...
by dkb140
Thu Oct 01, 2020 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Six Figure Student Debt
Replies: 84
Views: 7102

Re: Six Figure Student Debt

I'm not a Dave Ramsey purist, but I share his view on debt. I'm pretty sure Dave would suggest: saving a $1000 emergency fund, putting everything else towards debt, and getting "Gazelle Intense" for a year or two to knock out your debt. Minimize all your expenses. Cut everything you can. S...
by dkb140
Thu Oct 01, 2020 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you pay for healthcare (50-65 year olds)
Replies: 83
Views: 9232

Re: How much do you pay for healthcare (50-65 year olds)

I'm a 45 year-old diabetic. I easily hit my OOP max every year between insulin, supplies, and other co-pays. I'm fortunate to have decent insurance through my employer. My medical premiums runs $40.46 biweekly ($1052/year) pre-tax. Vision & Dental add $3.68 biweekly ($95.68/year) pre-tax. And I ...
by dkb140
Thu Oct 01, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA Contribution Tax-Deductible?
Replies: 15
Views: 668

Re: Traditional IRA Contribution Tax-Deductible?

What is the reason you don't want to do Roth? if I can't deduct a tIRA contribution then I will go Roth instead but I'm hoping to FIRE in my 50s leaving myself several years to fill up the lowest brackets with Roth conversions with less tax liability. This Income -> AGI -> MAGI business is about as...
by dkb140
Thu Oct 01, 2020 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA Contribution Tax-Deductible?
Replies: 15
Views: 668

Re: Traditional IRA Contribution Tax-Deductible?

https://www.irs.gov/retirement-plans/plan-participant-employee/2020-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work TIRA fully deductible if MAGI <65K. How did you calculate MAGI? 90,000 GROSS INCOME -12,400 Pe...
by dkb140
Thu Oct 01, 2020 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Your Emergency Care Expenses
Replies: 402
Views: 193171

Re: How to Minimize Your Emergency Care Expenses

Having spent a month in the ER/ICU being treated for pancreatitis without insurance, I wholeheartedly agree with all of this. The only thing I would add to #2 is to max out your HSA every year! Being diabetic now with high medical expenses I hit my OOP max every year. Being able to reimburse them wi...
by dkb140
Thu Oct 01, 2020 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA Contribution Tax-Deductible?
Replies: 15
Views: 668

Traditional IRA Contribution Tax-Deductible?

I'm 45, single, and expect to gross just over $90k this year. I will contribute $19,500 to my 401k and $3050 to my HSA through payroll deductions this year. Along with my personal deduction, I think this will leave me with a MAGI just over $55,000. Am I doing the math correctly on my MAGI? Would a $...
by dkb140
Thu Feb 20, 2020 6:01 pm
Forum: Personal Investments
Topic: 2020 Investment Strategy Check-Up
Replies: 8
Views: 803

Re: 2020 Investment Strategy Check-Up

Any idea if your HSA was established last year? Possibly automatically by your employer? If so - you can fund the HSA now and reimburse yourself your medical costs and save ~30% on the taxes. Either way, you should definately look to take advantage of your HSA because it is another way to save for ...
by dkb140
Thu Feb 20, 2020 5:54 pm
Forum: Personal Investments
Topic: 2020 Investment Strategy Check-Up
Replies: 8
Views: 803

Re: 2020 Investment Strategy Check-Up

Sounds like you are off to a great start! Personally, I would get aggressive with retirement savings and max out: your 401k, Roth IRA, and look at using your HSA as a second IRA. You can save your Qualified Medical Expenses until retirement & reimburse yourself at any time in any amount. You can...
by dkb140
Wed Jul 31, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: consolidating HSA accounts into new Fidelity HSA account
Replies: 9
Views: 1385

Re: consolidating HSA accounts into new Fidelity HSA account

You may be able to avoid the HE fees by doing an indirect transfer if you haven't already done one in the last 365 days.

Check out this article:

https://thefinancebuff.com/how-to-rollo ... r-fee.html
by dkb140
Mon May 13, 2019 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Excel worksheet for calculating SS bend points
Replies: 44
Views: 7824

Re: Excel worksheet for calculating SS bend points

I replaced the values in your ranked list with:

Code: Select all

=LARGE(E$3:E$57,1)
=LARGE(E$3:E$57,2)
...
=LARGE(E$3:E$57,35)
So it automatically pulls out the 35 highest-paid years.
by dkb140
Tue May 07, 2019 5:26 pm
Forum: Personal Investments
Topic: I tried to fire my financial advisor of 12 years today...
Replies: 127
Views: 15346

Re: I tried to fire my financial advisor of 12 years today...

Not only was he charging you 1.5%, I'd bet the managed funds he had you in had expense ratios up over 1%. So if you add those in, you were probably paying him ~2.5% per year to (mis) manage your money. I don't know about you, but I can't afford to pay someone $16k a year to make bad bets with my mon...
by dkb140
Tue May 07, 2019 3:06 pm
Forum: Personal Investments
Topic: 45 and 43 years old, 2 kids: Please advice on Retirement/Asset Allocation/Tax Efficiency/Loan Prepayment
Replies: 10
Views: 2453

Re: 45 and 43 years old, 2 kids: Please advice on Retirement/Asset Allocation/Tax Efficiency/Loan Prepayment

We appreciate it very much if we can get advice on the following: : Goals : 1. Simplify the portfolio. There are some assets in 401K and Deferred Salary Account where I do not have many options to make a lot of changes but do have flexibility in taxable and IRA accounts. 2. Long term financial savi...
by dkb140
Thu Nov 15, 2018 6:37 pm
Forum: Personal Investments
Topic: 401k Post Tax vs Brokerage Question
Replies: 9
Views: 688

Re: 401k Post Tax vs Brokerage Question

Planned 2019 Contributions 401k - $19,000 Pre-Tax; $5k Post-Tax HSA - $3,500 Roth IRA - $6,000 via Backdoor Taxable Brokerage - $1k/mos I just learned that my employer allows post-tax 401k contributions up to the total contribution limit, and allows for in-service distributions of post-tax dollars ...
by dkb140
Thu Nov 15, 2018 6:28 pm
Forum: Personal Investments
Topic: Is HSA for us?
Replies: 9
Views: 1071

Re: Is HSA for us?

Head of household with dependent children. ACA premium is low because of low income, but deductible is through the roof - 15k OOP for family, 6k per person. I consider it a catastrophic coverage essentially. Is HSA for us? Two concerns - HSA account left behind is treated as income to children, in ...
by dkb140
Thu Nov 15, 2018 6:16 pm
Forum: Personal Investments
Topic: Is maxing out Tax defered 401(k) enough?
Replies: 49
Views: 6197

Re: Is maxing out Tax defered 401(k) enough?

Assets: Primary Residence : $430k conservative estimate. His 401k : $135k (95:5 Stocks:Bonds) Her 401k: $115k(95:5 Stocks:Bonds) RE investment: Total of $135k in three different opportunities with 5 year hold period and currently earning quarterly cash dividends of 2-2.5% (8-10% annually). CD: $20k...
by dkb140
Thu Nov 15, 2018 5:52 pm
Forum: Personal Investments
Topic: Contribution limits question (Defined Contribution Limits)
Replies: 6
Views: 499

Re: Contribution limits question (Defined Contribution Limits)

401k/403b/457 Elective Deferral Limit 401k/403b/457 contribution limit will go up by $500 from $18,500 in 2018 to $19,000 in 2019. If you are age 50 or over, the catch-up contribution limit will stay the same at $6,000 in both 2018 and 2019. Employer match or profit sharing contributions aren’t inc...
by dkb140
Thu Nov 15, 2018 5:47 pm
Forum: Personal Investments
Topic: Should I fund a 401k by drawing down a taxable account?
Replies: 15
Views: 962

Re: Should I fund a 401k by drawing down a taxable account?

As long as you have a plan to fund the first years of retirement until 59.5, then yes I would go as far down the list as possible funding all the tax advantaged/deferred plans you can. For me, my 2018 limits look like: 1. HSA (paying healthcare out of pocket & saving receipts til 65) - $3450 2. ...
by dkb140
Tue Oct 02, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 557
Views: 380293

Re: Mango prepaid card - 4.8% (effective) APY

I've been able to make Mango work so far. I set up a $400 biweekly direct deposit & added the Mango card as a funding source to my Serve account so I was able to pull money from Mango to Serve then push it out to my checking account without any fees. I'm planning to leave $0 in the card spending...
by dkb140
Tue Oct 02, 2018 4:17 pm
Forum: Personal Investments
Topic: What to do with cash in the short term?
Replies: 36
Views: 3726

Re: What to do with cash in the short term?

So far I've found: 6.03% on $5000 @ Mango (with $800 net direct deposit) 5.12% on $1000 @ Digital FCU 4.99% on $1000 @ Blue FCU 4.00% on $2000 @ Priemer Members CU 3.00% on $15000 @ Lake Michigan CU 5.00% on $1000 each @ NetSpend, Western Union, HEB, Ace Elite, & Brinks Adds up to a blended 4.08...
by dkb140
Tue Oct 02, 2018 1:46 pm
Forum: Personal Investments
Topic: What to do with cash in the short term?
Replies: 36
Views: 3726

Re: What to do with cash in the short term?

Farmboyslim83 wrote: Tue Oct 02, 2018 1:22 pm Lake Michigan Credit Union, 3% up to 15k, is a pretty painless hoop-jumping option
Nice, I might move $15k of my emergency savings to LMCU. I wish DCU had a higher limit.
by dkb140
Tue Oct 02, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: My bank and absurd policy for "no fee"
Replies: 51
Views: 4689

Re: My bank and absurd policy for "no fee"

+1 on switching to a credit union.

Digital Credit Union also pays 5.12% on the first $1000 in their Primary Savings, so might as well park $1000 there.
https://www.dcu.org/personal-banking/sa ... -shar.html
by dkb140
Tue Oct 02, 2018 1:14 pm
Forum: Personal Investments
Topic: What to do with cash in the short term?
Replies: 36
Views: 3726

Re: What to do with cash in the short term?

If you don't mind jumping through the monthly hoops (mainly 10 debit card purchases), the reward-checking account (RCA) at Heritage Bank is paying 3.33% APY on up to $25K. If you're a hoop-jumper you could also get: 5.28% (effective after fees) on $5000 with MangoMoney https://www.mangomoney.com/wh...
by dkb140
Tue Oct 02, 2018 1:05 pm
Forum: Personal Investments
Topic: What to do with cash in the short term?
Replies: 36
Views: 3726

Re: What to do with cash in the short term?

There are several 2.25% online savings accounts (without any hoops to jump through) like MySavingsDirect and Northfield Bank, I'd look at one of those if you'll need it in ~2 years.
by dkb140
Tue Oct 02, 2018 12:55 pm
Forum: Personal Investments
Topic: Bonds... Why do people bother with them. ?
Replies: 71
Views: 8163

Re: Bonds... Why do people bother with them. ?

All signs right now say end of cycle. Right now I'm thinking if I want to go to 10% bonds 90% stock now's the time. What i don't know is what bonds to buy (a ladder sounds hard and I don't understand how T-bill auctions work I'm just thinking buy a bond fund). We're officially in the longest bull r...
by dkb140
Tue Oct 02, 2018 12:37 pm
Forum: Personal Investments
Topic: Portfolio Help; Two Young Physicians
Replies: 7
Views: 878

Re: Portfolio Help; Two Young Physicians

Sounds like you two are off to a great start! My focus at this point would be to avoid lifestyle creep and max out all the tax-advantaged savings you can! I'd go down this list and max out: HSA (and save healthcare receipts forever) 401k/403b/457 (Backdoor) Roth IRA Mega Backdoor Roth IRA, if either...
by dkb140
Tue Oct 02, 2018 12:22 pm
Forum: Personal Investments
Topic: Bonds... Why do people bother with them. ?
Replies: 71
Views: 8163

Re: Bonds... Why do people bother with them. ?

I think the better questions is: are there any better options than bonds to hedge against a market downturn?

I'm not crazy about bonds right now with rising interest rates, but are there any better options out there with higher average returns and a negative correlation with the stock market?
by dkb140
Tue Oct 02, 2018 11:57 am
Forum: Personal Investments
Topic: Financial Plan for 25 year old
Replies: 9
Views: 1226

Re: Financial Plan for 25 year old

I’m 25 years old. I work as a union nurse making roughly 85k-90k a year. I should be getting a 2nd job in January with access to a 457 plan. I have close to zero expenses and no debt. My plan is: Maximize my traditional 403b (I already started doing this) Maxmize my Roth IRA (Already started, might...
by dkb140
Tue Oct 02, 2018 11:46 am
Forum: Personal Investments
Topic: ROTH IRA - does it worth it?
Replies: 4
Views: 545

Re: ROTH IRA - does it worth it?

Without much detail to go on, I'd say follow the funding priority as far as you can:

https://www.bogleheads.org/wiki/Priorit ... nvestments
by dkb140
Mon Oct 01, 2018 1:36 pm
Forum: Personal Investments
Topic: Should we pay off $90K mortgage with idle cash or not?
Replies: 46
Views: 6383

Re: Should we pay off $90K mortgage with idle cash or not?

I have accounts at Discover Bank and their current savings account rate is 1.8%. I just did some research and I found some other online banks paying 1.85% and 1.9% but nothing at 2.35%. Would you mind sharing names? I see three at 2.25% currently: MySavingsDirect - https://www.mysavingsdirect.com N...
by dkb140
Mon Oct 01, 2018 1:28 pm
Forum: Personal Investments
Topic: Im going to die somewhere between Bankruptcy and $20 million
Replies: 46
Views: 10331

Re: Im going to die somewhere between Bankruptcy and $20 million

Forgive my ignorance, but why save receipts for 30+ years? What’s the benefit? Can you still reimburse yourself after such a long period, even if it was a qualifying event? Yes, you can reimburse yourself for qualified medical expenses at any point in time. The benefit is that you're loading your H...
by dkb140
Mon Oct 01, 2018 1:23 pm
Forum: Personal Investments
Topic: Mango Money - Worried about Direct Deposit
Replies: 21
Views: 5392

Re: Mango Money - Worried about Direct Deposit

I stumbled across Mango & loaded up $5000 in my quest for higher yields on my emergency funds. Mango currently requires $800 in Direct Deposit(s) per month net of any ACH transfers to get their 6% rate so I set up $400 biweekly direct deposits. There was still the problem unloading funds without...
by dkb140
Thu Sep 27, 2018 5:28 pm
Forum: Personal Investments
Topic: Should we pay off $90K mortgage with idle cash or not?
Replies: 46
Views: 6383

Re: Should we pay off $90K mortgage with idle cash or not?

1. I'd be trying to stuff as much of your $114k into W's retirement accounts as possible while she is still working.

2. As your CD's come due, I'd move your cash to an online high yield savings account. There are at least three currently offering 2.25% FDIC insured.
by dkb140
Thu Sep 27, 2018 5:05 pm
Forum: Personal Investments
Topic: Im going to die somewhere between Bankruptcy and $20 million
Replies: 46
Views: 10331

Re: Im going to die somewhere between Bankruptcy and $20 million

A little off topic, but now that you mention it...what’s the preferred strategy for HSAa when I actually have a qualified expense and am able to pay out of pocket: a) use the HSA or b) pay out of pocket, invest as much as I can and try to maximize the growth in that account? And should my allocatio...
by dkb140
Thu Sep 27, 2018 4:58 pm
Forum: Personal Investments
Topic: Looking for help investing 140k savings
Replies: 15
Views: 2292

Re: Looking for help investing 140k savings

Questions: Long Term 1. How would you invest $80,000 of savings for long term? Short Term 3. How would you invest $60,000 for a short term 5-10 year goal of purchasing a home? First, I agree with the others and would run away from the 1.5% Adviser. You can find everything you need on this forum but...
by dkb140
Thu Sep 27, 2018 4:17 pm
Forum: Personal Investments
Topic: Maxing my 401K
Replies: 4
Views: 459

Re: Maxing my 401K

Fidelity reccomends 2X salary by 35 & 3X by 40: https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire As far as one-size-fits-all rules of thumb go, that seems like a reasonable target. If you can max out your 401ks and/or Roth IRAs, I would aim for that, especially i...
by dkb140
Fri Sep 21, 2018 5:04 pm
Forum: Personal Investments
Topic: Retiring at 55 - regular 401k vs. ROTH 401k....which?
Replies: 10
Views: 1225

Re: Retiring at 55 - regular 401k vs. ROTH 401k....which?

The easiest way I can think to get at your pre-tax funds penalty-free would be to take "substantially equal" withdraws from your active 401k at the company you retire from at 55+. If that's your goal, I'd be maxing out those contributions now and I would try to roll other 401k or tIRA fund...
by dkb140
Fri Sep 21, 2018 4:56 pm
Forum: Personal Investments
Topic: Saving for house down payment with Vanguard VWINX or VSCGX?
Replies: 15
Views: 3841

Re: Saving for house down payment with Vanguard VWINX or VSCGX?

If you decide to stay out of the market, there are 3-5 year CDs over 3%. Northfield Bank and MySavingsDirect offer 2.25%:
https://www.enorthfield.com/rates/deposit
https://www.mysavingsdirect.com/secureb ... arnMore.do

There are other 2.25% HYS accounts out there.
by dkb140
Fri Sep 21, 2018 4:42 pm
Forum: Personal Investments
Topic: Investing my first million
Replies: 46
Views: 8388

Re: Investing my first million

Do you have a tax-deferred company plan--401k, 403b, etc? I don't. The reason is that I moved to the US fairly recently, and I'm not sure yet if I'll stay here for many more years, so I'm not convinced investing in a 401k is actually a good strategy. What are you doing with the other 5mil? I'll pro...
by dkb140
Fri Sep 21, 2018 4:32 pm
Forum: Personal Investments
Topic: Out of Market
Replies: 23
Views: 3686

Re: Out of Market

If you do want to move to CDs, Achieva CU is offering 4.2% IRA CDs, I'd look at those:
https://www.depositaccounts.com/banks/a ... cu/offers/
by dkb140
Fri Sep 21, 2018 4:27 pm
Forum: Personal Investments
Topic: Help with HSA fund selection
Replies: 7
Views: 1002

Re: Help with HSA fund selection

If you're planning to use this as a retirement account & not touch it for XX years, I like throwing it all in VSIAX for max growth & putting your Bond/Intl allocations in another account, but I tilt towards Small Cap Value.
by dkb140
Fri Sep 21, 2018 4:18 pm
Forum: Personal Investments
Topic: Savings (Investing) for house
Replies: 15
Views: 1831

Re: Savings (Investing) for house

You could also refinance your townhome freeing up the cash you've put in it and pay off that loan after you sell it. Some refinance loans used to have minimum time limits or closed early fees, you'd have to check. But usually you use the equity in one home to make the downpayment in the next or if ...
by dkb140
Fri Sep 21, 2018 2:44 pm
Forum: Personal Investments
Topic: Switching Vxus (tot int vanguard) to ftipx (Fid tot int)
Replies: 9
Views: 682

Re: Switching Vxus (tot int vanguard) to ftipx (Fid tot int)

I’m thinking of selling about 140k of etf Vxus (Vang tot international) and switch to ftipx (Fidelity total international) for simplicity and to save some on fees in my 401k. Any downsides anyone can think of? Can one sell 140k of the etf fairly easily? Will fidelity let me invest this much into th...
by dkb140
Fri Sep 21, 2018 2:34 pm
Forum: Personal Investments
Topic: High employer contribution, still max 403b before taxable?
Replies: 30
Views: 1699

Re: High employer contribution, still max 403b before taxable?

How do i calculate the tax hit on converting the IRA? ... Im assuming its just federal + state taxes at the effective tax rates? Yes, your marginal tax rate. so if you're filing jointly in the 24% bracket, 24% of $85k is $20,400. 32% would be $27,200. 1. max out 403b, $18500 2. max out tIRA, non de...
by dkb140
Fri Sep 21, 2018 12:34 pm
Forum: Personal Investments
Topic: Im going to die somewhere between Bankruptcy and $20 million
Replies: 46
Views: 10331

Re: Im going to die somewhere between Bankruptcy and $20 million

On paper I would probably have enough to retire sooner, but to me the biggest constraints seem to be 1) access to funds in a retirement account and 2) health insurance. To address the first issue, I am saving some money in a taxable account to give me some flexibility. (And I'm aware of the Roth IR...
by dkb140
Fri Sep 21, 2018 12:23 pm
Forum: Personal Investments
Topic: Im going to die somewhere between Bankruptcy and $20 million
Replies: 46
Views: 10331

Re: Im going to die somewhere between Bankruptcy and $20 million

How much weight should I be giving to calculators like this? Age: 33 Current Savings: 750k Annual Savings: 58k Retirement Withdrawal: 60k Retire at 55 50/50 Allocation I made Stocks and Bonds both be -3% returns relative to their historical returns, due to all sorts of opinions that long term retur...