Search found 22 matches

by profet
Tue Sep 03, 2019 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Best way to collaborate on net worth/retirement goals?
Replies: 16
Views: 1908

Best way to collaborate on net worth/retirement goals?

Does anyone have advice on the best way for a couple to collaborate on investments and such? What I mean is that I currently use: PersonalCapital (i like their free tools) Vanguard And while my wife and I can view our joint accounts and each other's IRA's with our individual logins, we can't share 4...
by profet
Wed Jul 03, 2019 10:58 am
Forum: Personal Investments
Topic: Can I fund all 4 tax advantage accounts?
Replies: 19
Views: 3189

Re: Can I fund all 4 tax advantage accounts?

Remember that while you can do 20% as the Employ ER contribution to your individual 401k, you probably don't want to with current tax laws. Since the Employ ER has to be done pre-tax, you lose the QBI deduction. You're probably better off skipping the solo-401k and going right to taxable. I agree t...
by profet
Tue Jul 02, 2019 12:18 pm
Forum: Personal Investments
Topic: Can I fund all 4 tax advantage accounts?
Replies: 19
Views: 3189

Re: Can I fund all 4 tax advantage accounts?

Remember that while you can do 20% as the Employ ER contribution to your individual 401k, you probably don't want to with current tax laws. Since the Employ ER has to be done pre-tax, you lose the QBI deduction. You're probably better off skipping the solo-401k and going right to taxable. Is there ...
by profet
Wed Jun 26, 2019 10:31 am
Forum: Personal Investments
Topic: Can I fund all 4 tax advantage accounts?
Replies: 19
Views: 3189

Re: Can I fund all 4 tax advantage accounts?

Remember that while you can do 20% as the EmployER contribution to your individual 401k, you probably don't want to with current tax laws.

Since the EmployER has to be done pre-tax, you lose the QBI deduction.

You're probably better off skipping the solo-401k and going right to taxable.
by profet
Wed Jun 05, 2019 9:27 am
Forum: Personal Investments
Topic: What to do with extra cash each month?
Replies: 28
Views: 2600

Re: What to do with extra cash each month?

I see. So if I accept the $24,000 standard deduction, then I won't get the mortgage interest deduction, then? Its an 'OR' situation. You either itemize or take the standard deduction. If, when you itemize, your deductions are over $24k, then you submit an itemized list for deductions. If not, then ...
by profet
Mon May 06, 2019 11:29 am
Forum: Personal Consumer Issues
Topic: Anybody try the Blue Apron or the like?
Replies: 77
Views: 6388

Re: Anybody try the Blue Apron or the like?

Tried blue apron a few years ago, the meals were... fine...

Although we did find that many of the meals were soups. Which I find ok once in a while, but eating soup for dinner multiple times per week was just a no go for us.
by profet
Mon May 06, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: College Tours and Open Houses
Replies: 40
Views: 2588

Re: College Tours and Open Houses

Be mindful that a tour/open house is the school acting as a salesperson and selling you on what they are offering. Be sure to talk to people who go to the school and not the ones that are being paid (in some form) to give the tours and be present in the dorms. My school (now defunct, merged into NYU...
by profet
Thu Feb 07, 2019 1:24 pm
Forum: Personal Investments
Topic: anyone experiencing problems with Vanguard Admiral shares?
Replies: 12
Views: 1518

Re: anyone experiencing problem with Vanguard Admiral shares?

I had to call in. Once I called they converted all shares over to Admiral in my solo 401k. There were no minimums. Can't be done online... yet.
by profet
Thu Jan 10, 2019 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Partially getting around SALT cap
Replies: 2
Views: 618

Partially getting around SALT cap

So I'm hitting the $10k SALT cap before I even factor in my property taxes.

Is it ok to get around the cap by deducting the percentage of my property taxes that make up my home office on my schedule c?
by profet
Thu Dec 13, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Is it a Five-Twenty-Nine or a Five-Two-Nine Plan
Replies: 29
Views: 1668

Re: Is it a Five-Twenty-Nine or a Five-Two-Nine Plan

Potato, Potato...

That doesn't work nearly as well in text.
by profet
Thu Dec 13, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle? Passive Income?
Replies: 71
Views: 9770

Re: Side Hustle? Passive Income?

I make/design ergonomic mechanical keyboards. Don't want to advertise here... but if you're curious you can google my username + 'keyboards'.
by profet
Mon Nov 19, 2018 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Student Loans After Enrolled in Public Service Loan Forgiveness (PSLF)?
Replies: 6
Views: 738

Re: Refinance Student Loans After Enrolled in Public Service Loan Forgiveness (PSLF)?

Do people actually ever get PSLF? I was lead to believe its a carrot on a stick with so many hurdles/unknown requirements and inept bookkeeping that its unattainable. 10 years is a long time to not make a single mistake. I gave up hope of it when the wife made a few extra payments at the beginning o...
by profet
Wed Nov 07, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1790

Re: Side Hustle 401k or taxable?

solo 401k let's you contribute on both sides... Thanks, I was not aware what a solo 401k was despite having a side-hustle for 15+ years! I wonder why the SEP IRA exists if a solo 401k is the same plus upto 18.5k? Here is a decent writeup: https://www.forbes.com/sites/davidrae/2018/04/23/sep-ira-ves...
by profet
Wed Nov 07, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1790

Re: Side Hustle 401k or taxable?

SEP only allows employer contributions, so the OP could just do that with the i401(k). I guess I don't follow the difference between 401k and SEP. If you are already maxed out your 401k with your full time job, can't you still contribute pre-tax money to your SEP IRA ( subject to ~20% of the side-h...
by profet
Thu Nov 01, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1790

Re: Side Hustle 401k or taxable?

Getting a lot of responses on what to do with employee contributions... And I appreciate it, but not really the topic I'm after.
by profet
Thu Nov 01, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1790

Re: Side Hustle 401k or taxable?

Use a Roth option for your full-time 401k and then traditional in the solo 401k? But then I lose the 20% cut to pass through income because its done pre tax. And employer contributions have to be traditional. You'll have to evaluate the pass-through effect on your specific situation. The idea of Ro...
by profet
Thu Nov 01, 2018 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1790

Re: Side Hustle 401k or taxable?

FiveK wrote:
Thu Nov 01, 2018 9:51 am
Use a Roth option for your full-time 401k and then traditional in the solo 401k?
But then I lose the 20% cut to pass through income because its done pre tax. And employer contributions have to be traditional.
by profet
Thu Nov 01, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1790

Side Hustle 401k or taxable?

Have a full time gig where I max out the 401k and also max out my SS responsibilities (employer and employee). So I don't believe i need to pay anything but medicare and income tax on the below noted side hustle profits. Have a side hustle that nets me around 30k/year. Previously I've used a solo 40...
by profet
Fri Oct 19, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Payroll Tax Cap
Replies: 6
Views: 627

Social Security Payroll Tax Cap

So the social security payroll tax cap is on $128,400 of wages, thus $7,960.80 is the max a company will withhold per year. Could someone clear up the following situation: High income earner makes more than cap and his W-2 job stops withholding after earner hits $7,960.80. Side gig of same person cr...
by profet
Wed Aug 22, 2018 11:43 am
Forum: Personal Investments
Topic: Is this a good time to invest as stock market is all time high?
Replies: 46
Views: 5245

Re: Is this a good time to invest as stock market is all time high?

As always... if you foresee needing the money in the next 10 years, do NOT invest it in the stock market.

If your time horizon is 10 years+ then there is no time like the present.
by profet
Wed Jun 27, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: What is your debt interest rate threshold?
Replies: 57
Views: 4084

What is your debt interest rate threshold?

I'm in debt.

Mortgage @ 3.25%
Student Loan @ 1.6%
DW Student Loans @ 3.61%, 4.41%, 4.04%, and 5.06%
Car @ 1.65%


My question is... at what interest rate do people feel its more worthwhile to invest rather than pay down the debt? When does the opportunity cost outweigh the loan fee?
by profet
Mon Jun 18, 2018 12:00 pm
Forum: Personal Investments
Topic: Next Steps for Single 34 Year Old with Savings and Roth IRA (VASGX)
Replies: 37
Views: 3556

Re: Next Steps for Single 34 Year Old with Savings and Roth IRA (VASGX)

Just a small comment about your mention of "no debt other than a small car payment." You have debt if you have a car loan. The reason I feel compelled to point this out is because too often in today's society people view car debt as acceptable. It is not. Don't get sucked into the trap of thinking ...