Search found 47 matches

by benaaye
Sun Feb 23, 2020 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth and IRA Basis (Form 8606)
Replies: 2
Views: 351

Megabackdoor Roth and IRA Basis (Form 8606)

I have contributed to the after tax portion of a previous employer's 401K in the past 3 years. I also did non-deductible contributions to a traditional IRA and converted this to my roth IRA the past 3-4 years (backdoor roth). I only filled out a form 8606 just last year but I also think I did this i...
by benaaye
Thu Feb 13, 2020 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Mental health/therapy and HSAs
Replies: 2
Views: 296

Mental health/therapy and HSAs

Hi, would love others thoughts on this. One of my goals for this year was to prioritize mental health and wellness generally but to get and regularly attend therapy as I've had a lot of life changes and various things over the past couple of years. I've found one or maybe two that I may stick with. ...
by benaaye
Fri Feb 07, 2020 10:11 pm
Forum: Personal Investments
Topic: Would I trigger the pro-rata rule?
Replies: 18
Views: 1004

Re: Would I trigger the pro-rata rule?

Thank you so much to all for your responses and insights!! Super helpful. I think I will hold off on doing the rollover for now for a couple of months until I am sure about the 401K.
by benaaye
Thu Feb 06, 2020 1:30 am
Forum: Personal Investments
Topic: Would I trigger the pro-rata rule?
Replies: 18
Views: 1004

Re: Would I trigger the pro-rata rule?

@EHEngineer is correct. If you rollover any pre-tax amounts to an IRA by 12/31, it will be included in Form 8606 Line 6. That will subject any Roth conversions of non-deductible basis to be subject to pro-rata taxation. If Line 6 represents a significant majority of total IRA assets, a significant ...
by benaaye
Thu Feb 06, 2020 12:39 am
Forum: Personal Investments
Topic: Would I trigger the pro-rata rule?
Replies: 18
Views: 1004

Re: Would I trigger the pro-rata rule?

However, your employer should allow separate direct rollovers of pre-tax assets to a traditional IRA and after-tax assets to a Roth IRA. If not they must allow a minimum of one direct rollover of pre-tax assets to a traditional IRA and one distribution of after-tax assets. Then you can do an indire...
by benaaye
Thu Feb 06, 2020 12:24 am
Forum: Personal Investments
Topic: Would I trigger the pro-rata rule?
Replies: 18
Views: 1004

Re: Would I trigger the pro-rata rule?

May I ask, why do you want to transfer out of the old 401k? Why not leave it be? The sooner the after-tax balances are rolled over to a Roth IRA, the sooner they are not subject to pre-tax earnings. Can you elaborate? I don't understand what "subject to pre-tax earnings" means. Just like earnings o...
by benaaye
Thu Feb 06, 2020 12:23 am
Forum: Personal Investments
Topic: Would I trigger the pro-rata rule?
Replies: 18
Views: 1004

Re: Would I trigger the pro-rata rule?

You may have a pro-rata issue if you wish to do a backdoor roth while you have a traditional IRA, but otherwise there is no issue. May I ask, why do you want to transfer out of the old 401k? Why not leave it be? Thanks for this! Actually this is what made me nervous and I think I have potentially o...
by benaaye
Wed Feb 05, 2020 10:49 pm
Forum: Personal Investments
Topic: Would I trigger the pro-rata rule?
Replies: 18
Views: 1004

Would I trigger the pro-rata rule?

Hi all--I would like thoughts if someone out here is more knowledgeable about how the pro-rata rule works. I am uncertain if I might trigger the pro-rata rule with what I am thinking I might do to get funds out of an old 401K. I have an old 401K with vested and unvested pre-tax and after-tax amounts...
by benaaye
Mon Jan 06, 2020 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Priorities after a financial setback
Replies: 7
Views: 1608

Re: Priorities after a financial setback

Thanks to all the replies. I'm thinking I will prioritize the HSA first. Am I right that I can still contribute this year for last year?

Also, it/HSA is at Optum but I'm not sure if I should look into moving this somewhere else. I read somewhere that maybe Fidelity is a good place instead.
by benaaye
Sun Jan 05, 2020 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Priorities after a financial setback
Replies: 7
Views: 1608

Re: Priorities after a financial setback

Put in as much into 401k as employer will match. Then max ROTH IRA. Contributions can be considered part of your Emergency Fund until you are able to replenish it. Get the first two on track before paying extra on student loans. I don't like debt, but your first priority is to get to a good cash fl...
by benaaye
Sun Jan 05, 2020 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Priorities after a financial setback
Replies: 7
Views: 1608

Re: Priorities after a financial setback

1. How much do you need in your emergency fund, and how much is there now? 2. What is the rate on your student loans? 3. You get any match on the new employer 401k? 1. About 23-25K 2. 2.95% low I know but planning (with good luck) to prepay for a rebate and to be done with it.. 3. Nope. Never had a...
by benaaye
Sun Jan 05, 2020 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Priorities after a financial setback
Replies: 7
Views: 1608

Priorities after a financial setback

Hi all, Happy New Year! Would love to get other perspectives on some priorities for this year after a financial setback/layoff last year. Didn't have new/solid income inflow for the majority of the year (probably 7-9 months worth?) but did have unemployment for 6 months. Overall, my NW didn't actual...
by benaaye
Thu Aug 29, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: [Pay student loans early or invest?]
Replies: 21
Views: 958

Re: [Pay student loans early or invest?]

That's a relatively low rate but I think it could depend on your tolerance and security. One way to go about it is to do both or half and half--you'll probably still be done with the loans within 5 years.
by benaaye
Thu Aug 29, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Redundancy re-hires?
Replies: 0
Views: 440

Redundancy re-hires?

Has anyone here ever been a redundancy rehire? What was that process like after redundancy and how long were you with the company etc.?
by benaaye
Wed Aug 28, 2019 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Which job? (maybe short term but concerned about job hopping)
Replies: 7
Views: 1082

Re: Which job? (maybe short term but concerned about job hopping)

I've made a few edits to give additional context so if there are others that have additional thoughts about the potential stigma of job hopping after a layoff that would be helpful because I'm not sure either of these is a "perfect landing" if that exists. But I'm also not sure that waiting around f...
by benaaye
Wed Aug 28, 2019 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 109
Views: 12335

Re: Need Help - DW Laid Off and Company wants her back now

Interesting --Is it common for people to actually go back to a company after being laid off? Does the company usually pay you back for the months unemployed or do you need another offer to better negotiate? Congrats OP!
by benaaye
Wed Aug 28, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Which job? (maybe short term but concerned about job hopping)
Replies: 7
Views: 1082

Re: Which job?

#3 If your focus is on job security , consider public service (gov't work), fed, state, city, public education, etc. j :happy Haha. True. I actually did very strongly consider that earlier in my career and have that background but alas..I went the private route and so am trying to find something wi...
by benaaye
Sat Aug 24, 2019 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Which job? (maybe short term but concerned about job hopping)
Replies: 7
Views: 1082

Re: Which job?

Go for Flexibility in time / contribution / assignments / future growth. Every job is training for your next, don't chase a dead-end. (or strictly wages). Enjoyment with position, customers, coworkers is second only to the job that is best for you and your family. Primary is: Does the company and r...
by benaaye
Sat Aug 24, 2019 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Which job? (maybe short term but concerned about job hopping)
Replies: 7
Views: 1082

Re: Which job?

FWIW, all companies have management and layoffs issues. If you're looking for stability and security, I wouldn't think #1 is a slam dunk (you mention having to do consulting, customers etc). Lower base also indicates that it might involve a higher but fluctuating variable bonus perhaps? thanks! No ...
by benaaye
Thu Aug 22, 2019 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Which job? (maybe short term but concerned about job hopping)
Replies: 7
Views: 1082

Which job? (maybe short term but concerned about job hopping)

Job #1 Salary: $165K; opportunity to have flexibility with various contracts and clients (3 mo- 1 year in duration typically) and there may be opportunity to target new industries (consulting) Job #2 Salary: around $200K base ($250K+ total); recurrent layoffs and current management issues at company...
by benaaye
Thu Aug 22, 2019 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: People, pay or stability/security?
Replies: 1
Views: 315

People, pay or stability/security?

What do others order in their job searches regarding people, pay and security/stability? Mine has typically been exactly this order particularly earlier in my career but I find job security/stability to be more of/at least the second factor right now. At a job/company I am considering in a job searc...
by benaaye
Wed Aug 14, 2019 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Order of Paying Off Student Loans
Replies: 6
Views: 503

Re: Order of Paying Off Student Loans

mathematically the higher interest one should be the priority. if a goal is to really axe the debt then it's a good strategy but if you need emotional wins then a hybrid approach with the lowest balance might make sense.
by benaaye
Sun Jun 02, 2019 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Re: Laid off/Housing Advice

thanks again to everyone who responded! i updated for thoughts on housing.
by benaaye
Tue May 07, 2019 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Resume Advice
Replies: 3
Views: 732

Resume Advice

Hi all--it has been about 1.5 months since laid off. When I found out I immediately started applying and updated my resume to include the new company and listed the date with just a dash (e.g. June -). I was fine with doing this because I was technically still there and received last and notice pay ...
by benaaye
Tue Apr 16, 2019 3:03 am
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Re: Laid off/Health care?

I've noticed the market has produced some interesting results for friends/colleagues in the past couple years so I am hoping something good works out soon. My area is generally a little tight/saturated and competitive in some areas though. Be ready to expand your "area" if needed. Overall, the job ...
by benaaye
Wed Apr 03, 2019 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Re: Laid off/Health care?

Don't keep COBRA without a subsidy if you are healthier than the average insured under the plan. You probably qualify for Medicaid. hah i think my ignorance is showing..what do you mean "without a subsidy"? I definitely have overpaid in health insurance over the years in terms of usage so absent a ...
by benaaye
Wed Apr 03, 2019 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Re: Laid off/Health care?

Here is a cobra 'trick' to be aware of in case you would find another job within 60 days (my bolding)..... You have 60 days to decide whether to sign up for a COBRA plan. COBRA lets your dependents approve coverage even if you decline COBRA. If you reject COBRA, you can still get it later as long a...
by benaaye
Wed Apr 03, 2019 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Re: Laid off/Health care?

So...I was recently laid off from the "good job/position" I recently joined about a year ago for redundancy. Sorry to hear that. Is this your first time getting laid off? It happens. I'm thinking I might just hold off on electing COBRA and be I guess possibly uninsured as I figure things out (maybe...
by benaaye
Wed Apr 03, 2019 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Re: Laid off/Health care?

Do you live in one of the states that adopted Medicaid expansion? (Those states do not count assets or net worth; they go solely by monthly income to establish eligibility) Depending on how much your U.I. benefit is - and assuming you do not have any other regular income stream coming in - You just...
by benaaye
Sun Mar 31, 2019 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Advice
Replies: 30
Views: 4205

Healthcare Advice

So...I was recently laid off from the "good job/position" I recently joined for redundancy. Complete shock. Although, the company has been in turnaround for the past at least 4-8 years... but the department I was in was already very lean and needed another person that I think nobody (me least of all...
by benaaye
Thu Jan 31, 2019 9:19 pm
Forum: Personal Investments
Topic: Blackrock Equity Index Q/Checking Private Funds
Replies: 1
Views: 247

Blackrock Equity Index Q/Checking Private Funds

Hi all, This might be a silly question but I recently switched my 401K to this fund Black Rock Equity Index Fund Q (INDXQ) because it's the best S&P500 tracking option in my 401K (ER .06). I've been used to VTSAX. I tried to do research on it which is limited and I realize it's because it's a privat...
by benaaye
Wed Jan 09, 2019 9:45 pm
Forum: Personal Investments
Topic: Portfolio Advice (3 Questions)
Replies: 5
Views: 675

Re: Portfolio Advice (3 Questions)

Great! My thoughts are: 1. The $80 per year for a $70K portfolio works out to 0.1% overall on top of underlying options ERs. So perhaps total around 0.2%. I would not roll in the old one YET, let a year play out and see how you feel. 2. Can you list the actual funds and ERs of the new options? I wo...
by benaaye
Wed Jan 09, 2019 12:14 pm
Forum: Personal Investments
Topic: Portfolio Advice (3 Questions)
Replies: 5
Views: 675

Re: Portfolio Advice (3 Questions)

Hard to answer without the following information What is balance in the previous 401K? Is there a match at the new place? Do you Roth or plan to backdoor Roth? Re. the REITs, I used to have more, but scaled back as the total market covers it enough for me and simplicity works for me. YMMV. Thanks f...
by benaaye
Wed Jan 09, 2019 11:28 am
Forum: Personal Investments
Topic: Portfolio Advice (3 Questions)
Replies: 5
Views: 675

Portfolio Advice (3 Questions)

I have 3 questions related to any advice/perspectives anyone can offer on my portfolio/investing strategy. I am re-evaluating my IPS partly because I changed employers and have different investment options available to me now that are different than I anticipated when drafting. I am still aiming for...
by benaaye
Mon Dec 03, 2018 11:56 am
Forum: Personal Investments
Topic: 2018 HSA Limit Question
Replies: 4
Views: 541

Re: 2018 HSA Limit Question

They are not required to allow you to change your contribution amount outside of the benefit election period. But you are welcome to contribute to an HSA outside of your employer. For example Fidelity recently announced HSA accounts so you could open one with them if you need to contribute addition...
by benaaye
Mon Dec 03, 2018 11:55 am
Forum: Personal Investments
Topic: 2018 HSA Limit Question
Replies: 4
Views: 541

Re: 2018 HSA Limit Question

I'm really hoping HSA nerds can help me out here with this question regarding the maximum amount I can contribute to my 2018 HSA. I just recently got access to an HSA through a new job I started in the middle of the year. My employer contributes $750 for the year but pays the amount for January - J...
by benaaye
Thu Nov 29, 2018 1:14 pm
Forum: Personal Investments
Topic: 2018 HSA Limit Question
Replies: 4
Views: 541

2018 HSA Limit Question

I'm really hoping HSA nerds can help me out here with this question regarding the maximum amount I can contribute to my 2018 HSA. I just recently got access to an HSA through a new job I started in the middle of the year. My employer contributes $750 for the year but pays the amount for January - Ju...
by benaaye
Thu Nov 29, 2018 12:43 am
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Re: Advice on Heavy Cash Position

Thanks so much everyone for the responses so far btw--very helpful and lots to think about!
by benaaye
Thu Nov 29, 2018 12:42 am
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Re: Advice on Heavy Cash Position

Is the student loan escrow account self imposed or required? Just curious as I’ve never seen that before. Haha totally self-imposed! :) But it would be interesting concept for lenders/third-parties to adopt though because it would actually encourage working toward payoff! I've both mentally and phy...
by benaaye
Thu Nov 29, 2018 12:32 am
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Re: Advice on Heavy Cash Position

Unless you are planning in buying a house in the next 3 months i wouldn't worry about paying off your "longest " account. They will still report paid in full to the credit report for quite a while. It might drop like 10 to 30 points but should be min. I woukd only worry about that really if I was i...
by benaaye
Mon Nov 26, 2018 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Re: Advice on Heavy Cash Position

I'd pay off the 4 and 5% loans today. Why wouldn't you? There are no riskless investments that pay that. It doesn't make sense to hold so much cash while maintaining that debt. It's not illogical to keep paying the 2.95% debt while investing for retirement (ie funding 401K, Roth, HSA) but I do find...
by benaaye
Mon Nov 26, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Re: Advice on Heavy Cash Position

Agree with paying off the 4.0% and 5.0% loans. That would knock down your $52.5K non-emergency cash to around $36K. You describe yourself as pretty debt-averse, but you'll still have that $77K hanging around your neck. The other question is how risk-averse are you? Because that's the balancing act ...
by benaaye
Mon Nov 26, 2018 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Re: Advice on Heavy Cash Position

I'd pay off the 4 and 5% loans today. Why wouldn't you? There are no riskless investments that pay that. It doesn't make sense to hold so much cash while maintaining that debt. It's not illogical to keep paying the 2.95% debt while investing for retirement (ie funding 401K, Roth, HSA) but I do find...
by benaaye
Sun Nov 25, 2018 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Heavy Cash Position
Replies: 18
Views: 3409

Advice on Heavy Cash Position

I am relatively cash heavy at the moment and wondering if others have thoughts on what they would do in my position. Single, 31 Student Loans: $93,5 (in late 2014 this was approximately $196K) - $77K @ 2.95% fixed(private) (this does not show up on my credit report/ refi in 2016 with a payoff in 5 y...
by benaaye
Tue Jul 03, 2018 5:27 pm
Forum: Personal Investments
Topic: 401K and Match (actual dollar value?)
Replies: 4
Views: 719

Re: 401K and Match (actual dollar value?)

TY both for your input! I get the usage of a percentage for universal application but it seems like the actual dollar value (which I think an employee would care about more) as a result can really vary and I was trying to also get a sense of what a "good" match or "less good" match would be--I never...
by benaaye
Tue Jul 03, 2018 1:17 pm
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 132
Views: 15749

Re: Best 401k Employer Match Structure

This is a really interesting thread. From what I gather pretty good match programs are contributing around 20K to 30K each year for their employees in a 401Ks? Or is there a salary cap or maximum match contribution for some of these higher percentages (e.g., 7-9%)? Would just ok match structures be ...
by benaaye
Mon Jul 02, 2018 9:52 pm
Forum: Personal Investments
Topic: 401K and Match (actual dollar value?)
Replies: 4
Views: 719

401K and Match (actual dollar value?)

Hi, I am new to posting to the forum. :) I recently got a new job in my same field and industry and the previous employer did not match but I have contributed pretax (15,304.72) and after tax (1583.33). My new employer has a percentage match (4%) and same discretionary match they are honoring for 20...