Search found 307 matches

by justsomeguy2018
Thu Nov 07, 2019 6:31 pm
Forum: Personal Investments
Topic: Simplest way to rollover a Rollover IRA into an Employer 401k
Replies: 8
Views: 282

Simplest way to rollover a Rollover IRA into an Employer 401k

Can the plan administrator of the 401k handle all of this? It seems cumbersome to have be the middle man in all this.
by justsomeguy2018
Thu Nov 07, 2019 12:43 pm
Forum: Personal Investments
Topic: [Less than $1 left in tIRA after backdoor Roth Conversion]
Replies: 4
Views: 563

Re: 0.93 cents left in tIRA after backdoor Roth Conversion

So I can convert it this year and on my tax form just put that I had $1 in taxable amount?
by justsomeguy2018
Wed Nov 06, 2019 6:58 pm
Forum: Personal Investments
Topic: [Less than $1 left in tIRA after backdoor Roth Conversion]
Replies: 4
Views: 563

[Less than $1 left in tIRA after backdoor Roth Conversion]

Hopefully my question is simple - I converted my $6,000 contribution to Roth money and then afterwards 0.93 cents was deposited as interest for the "waiting' period. So currently .93 cents is sitting in there. I read the Whitecoat Investor blog on this, but was confused about 1 thing: (1) Do I need ...
by justsomeguy2018
Sun Nov 03, 2019 9:28 pm
Forum: Personal Investments
Topic: How much money is really needed in retirement?
Replies: 74
Views: 9198

Re: How much money is really needed in retirement?

Yes, how much money you need for retirement depends on your expenses in retirement (including taxes, healthcare and lumpy expenses like new cars), net of retirement income (like a pension or SS). It also depends on how long your retirement will be. Assuming same net expenses/mortality, someone reti...
by justsomeguy2018
Sun Nov 03, 2019 9:21 pm
Forum: Personal Investments
Topic: How much money is really needed in retirement?
Replies: 74
Views: 9198

Re: How much money is really needed in retirement?

fortfun wrote:
Sun Nov 03, 2019 9:11 pm
Approx. 25x your annual spending is a rough estimate. Assuming a 3.5-4% draw down.

ie. 50k/yr spending would require 1.25M savings.
That seems reasonable but how does a paid-off house factor into that? 20% of our annual expenses are mortgage payments (P + I).
by justsomeguy2018
Sun Nov 03, 2019 9:18 pm
Forum: Personal Investments
Topic: How much money is really needed in retirement?
Replies: 74
Views: 9198

Re: How much money is really needed in retirement?

IN 30 years our house (biggest monthly expense) would be paid off, justsomeguy2018, How do you know that you would not be permanently unemployed or under-employed over the next 30 years? KlangFool I don't know that. Does anyone know that? I can only make estimations based on current situation. How ...
by justsomeguy2018
Sun Nov 03, 2019 9:14 pm
Forum: Personal Investments
Topic: At the halfway mark, need help with 2 big decisions
Replies: 30
Views: 3176

Re: At the halfway mark, need help with 2 big decisions

I only skimmed your post and read the replying comments, go with what will make you happy now. For all you know you will have a terminal illness in 10 years.
by justsomeguy2018
Sun Nov 03, 2019 9:03 pm
Forum: Personal Investments
Topic: How much money is really needed in retirement?
Replies: 74
Views: 9198

How much money is really needed in retirement?

I get the feeling retirement advice from the "pros" is too simplistic. E.g. "by age 40, you should have 3x your income in retirement savings". Isn't the bigger issue your expected expenses in retirement? And can't you manage your expenses by moving to a low-cost area? If your annual income is $1M a ...
by justsomeguy2018
Thu Oct 31, 2019 6:55 pm
Forum: Personal Investments
Topic: If I save $65,000 a year for the next 25 years
Replies: 34
Views: 4231

If I save $65,000 a year for the next 25 years

Will that be enough to retire off of?
by justsomeguy2018
Mon Oct 14, 2019 8:26 pm
Forum: Personal Investments
Topic: Married Filing Jointly - 2 backdoor Roths - ok?
Replies: 3
Views: 453

Married Filing Jointly - 2 backdoor Roths - ok?

Does the government look at your return "suspiciously" if both you and your spouse have the same exact Form 8606 filled out for yourselves (max IRA contribution, $0 earnings, convert the max amount, etc.) when doing the backdoor Roth? Are there any married couples who file jointly and each do the ba...
by justsomeguy2018
Sat Oct 12, 2019 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Finance or Accounting Degree?
Replies: 81
Views: 5758

Re: Finance or Accounting Degree?

Lots of really good info from all your posts. Thank you all--it means a lot coming from you all. Consensus appears to be Accounting degree, which is what he had thought to pursue on his own. I thought maybe Finance would be the better route, so I'm glad I asked the question here. I do see him also ...
by justsomeguy2018
Sat Oct 05, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Finance or Accounting Degree?
Replies: 81
Views: 5758

Re: Finance or Accounting Degree?

Math has always come very easily for DS and he has no interest whatsoever in anything STEM. Anyone have any input on which degree (Finance or Accounting) would offer better future opportunities? Accounting would probably offer better job stability/opportunities, but Finance probably has a higher ce...
by justsomeguy2018
Fri Oct 04, 2019 3:07 pm
Forum: Personal Investments
Topic: Limits on Roth conversion?
Replies: 11
Views: 720

Re: Limits on Roth conversion?

It was Fidelity. They also told me it would not go in my traditional IRA account it would go into a separate rollover IRA!
by justsomeguy2018
Fri Oct 04, 2019 1:08 pm
Forum: Personal Investments
Topic: 100% Stock too Aggressive in 401k Plan?
Replies: 40
Views: 2524

Re: 100% Stock too Aggressive in 401k Plan?

Hello all - I am 23 years of age and a little over a year into my career with a company that allows me to invest in a Traditional 401k. I max it out and am investing into a Total Stock Market Index Fund. I recently received an email from Fidelity that my 401k portfolio "may need attention." "You're...
by justsomeguy2018
Fri Oct 04, 2019 12:57 pm
Forum: Personal Investments
Topic: Limits on Roth conversion?
Replies: 11
Views: 720

Limits on Roth conversion?

I was on the phone with a specialist rep for a brokerage and I was told that converting money from a Rollover IRA into a Roth IRA was subject to the $6k annual Roth IRA contribution limit. I.e. if you had $18k of pretax money in a Rollover IRA you would have to chunk the conversions out over 3 years...
by justsomeguy2018
Thu Oct 03, 2019 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Lump Sum Payout Option Offered
Replies: 3
Views: 304

Pension Lump Sum Payout Option Offered

I am 38 years old, have an option to do a $37,000 lump sum payout now vs. estimated payout of $880/mo at age 65 with 50% survivor benefits. Given I am relatively young and the monthly amount doesn't seem like much income in 27 years after inflation, my inclination is to take the lump sum now and rol...
by justsomeguy2018
Thu Sep 26, 2019 9:31 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation Approaching Age 40s
Replies: 22
Views: 2690

Asset Allocation Approaching Age 40s

I know this is a personal decision but curious on inputs on asset allocation. Rule of thumb used to be your age should be your bond allocation, though in recent times due to human longevity I've heard your equity portion should be your age minus 110, or even 120. I am 38; used to have an AA of rough...
by justsomeguy2018
Thu Sep 26, 2019 6:54 pm
Forum: Personal Investments
Topic: Should I switch to Roth 401k with Pension factored in?
Replies: 6
Views: 492

Re: Should I switch to Roth 401k with Pension factored in?

I would put some money in Roth while taxes are low, it will also give you more flexibility later down the road when drawing the pension or SS.
by justsomeguy2018
Wed Sep 25, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard 529 Sweep Account
Replies: 6
Views: 528

Vanguard 529 Sweep Account

If you open a 529 through Vanguard can you deposit the money and let it sit in a holding account earning interest until you make your portfolio selections (similar to opening a brokerage account) or do you have to make your selections when you open the account? Similarly if you do automatic deposits...
by justsomeguy2018
Sat Sep 21, 2019 1:19 pm
Forum: Personal Investments
Topic: Vanguard 529 Plan - Individual Portfolios
Replies: 1
Views: 222

Vanguard 529 Plan - Individual Portfolios

On the Vanguard 529 plan website, this is the language: "Design and manage your own investment strategy by choosing up to 5 of 20 of our individual portfolios." Then it lists the bond funds, stock funds, etc. When I click on each of the funds, it says "Minimum Investment $3,000 per Plan". My questio...
by justsomeguy2018
Wed Sep 18, 2019 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term FAFSA/College Strategy
Replies: 150
Views: 8802

Re: Long Term FAFSA/College Strategy

Hypothetically speaking, if I were to suffer a massive drop in income later on down the road (IDK, say it is cut in 1/2 by the time college is approaching), does that change the equation in terms of what instrument to put excess cash now ? What I mean is, if it becomes a question of assets and inco...
by justsomeguy2018
Wed Sep 18, 2019 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term FAFSA/College Strategy
Replies: 150
Views: 8802

Re: Long Term FAFSA/College Strategy

Start funding a 529 plan, now. You aren't getting any financial aid other than loans. Hypothetically speaking, if I were to suffer a massive drop in income later on down the road (IDK, say it is cut in 1/2 by the time college is approaching), does that change the equation in terms of what instrumen...
by justsomeguy2018
Wed Sep 18, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term FAFSA/College Strategy
Replies: 150
Views: 8802

Re: Long Term FAFSA/College Strategy

Thanks for the info, I think I may currently be over the eligibility limit for Coverdell ESA though: "Also, your income must be below a certain level in the year of your contribution. Contributors must have less than $190,000 in modified adjusted gross income ($95,000 for single filers) in order to ...
by justsomeguy2018
Wed Sep 18, 2019 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term FAFSA/College Strategy
Replies: 150
Views: 8802

Re: Long Term FAFSA/College Strategy

Spend all money not protected by retirement accounts. Seriously? At your income, you are not getting financial aid. Unless you quit working in the next few years. Lol. So if we are short on cash to pay for the college bill, and our income is too high for FAFSA, is the gap typically filled by privat...
by justsomeguy2018
Wed Sep 18, 2019 6:57 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term FAFSA/College Strategy
Replies: 150
Views: 8802

Long Term FAFSA/College Strategy

Thinking way ahead here... Are there any particular strategies for planning for college 19-years away? Specifically, is there anything to be aware of in terms of where to allocate excess cash flow (e.g. 529, brokerage account, home principal payoff, etc.)? Current situation (obviously may be drastic...
by justsomeguy2018
Sat Aug 31, 2019 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in my Company Stock Plan (ESPP) - is it worth it?
Replies: 39
Views: 2190

Re: Investing in my Company Stock Plan (ESPP) - is it worth it?

Thanks to everyone for the comments. I will consider when I am eligible. I found the comment about collecting monthly and buying every 6 months interesting and something to investigate. Also from talking with other past participants it doesn’t sound like there is a holding period. But if you sell i...
by justsomeguy2018
Sat Aug 31, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in my Company Stock Plan (ESPP) - is it worth it?
Replies: 39
Views: 2190

Re: Investing in my Company Stock Plan (ESPP) - is it worth it?

I would do it in an instant. 100 percent return. Hopefully the stock pays a dividend as well. But that should not, of course, be your main retire,ent savings, more like a little bit of extra. In general, there is no benefit to investing in stocks in the open market but this is a special situation. ...
by justsomeguy2018
Sat Aug 31, 2019 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Investing in my Company Stock Plan (ESPP) - is it worth it?
Replies: 39
Views: 2190

Re: Investing in my Company Stock Plan (ESPP) - is it worth it?

OP here. Sounds like there are a lot of different opinions on this. My general takeaway is that if one has the money to play around with, it's a risky play, with a lot of potential upside. But shouldn't make up a large portion of your portfolio. I think it is probably worth it, though I may dial it ...
by justsomeguy2018
Sat Aug 31, 2019 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Investing in my Company Stock Plan (ESPP) - is it worth it?
Replies: 39
Views: 2190

Re: Investing in my Company Stock Plan (ESPP) - is it worth it?

HawkeyePierce wrote:
Fri Aug 30, 2019 11:40 pm
What happens if you leave the company before the 5 years are up? Is the match forfeit?
No, you are immediately 100% vested in the match.
by justsomeguy2018
Fri Aug 30, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in my Company Stock Plan (ESPP) - is it worth it?
Replies: 39
Views: 2190

Investing in my Company Stock Plan (ESPP) - is it worth it?

I can get an immediately-vested 100% match of company stock if I purchase $1,500 a year of company stock through payroll contribution. The shares have to be held for 5 years before you can sell them. Of course, the company matching contribution is taxed, so it increases my taxes each year, so I am i...
by justsomeguy2018
Sat Aug 24, 2019 10:28 am
Forum: Personal Finance (Not Investing)
Topic: When to have an Umbrella insurance policy
Replies: 39
Views: 4413

When to have an Umbrella insurance policy

Do you recommend having an Umbrella policy at all times? Or only once you get to a certain level of assets/net worth? If so, at what level (dollar amount wise) is it advisable to take out an Umbrella policy, and how big of a policy (dollar wise) should you take out? e.g. if you have $500,000 in asse...
by justsomeguy2018
Fri Aug 16, 2019 10:57 pm
Forum: Personal Investments
Topic: Best money market rate for first 12 months?
Replies: 12
Views: 1654

Re: Best money market rate for first 12 months?

I see SunTrust has an "Advantage Money Market Savings account" that earns a 2.23% Preferred Rate for the first 12 months (Min balance is $10k). The promotional interest rate is guaranteed through 8/16/2020 and after which the interest rate and APY may change. https://www.suntrust.com/personal-banki...
by justsomeguy2018
Fri Aug 16, 2019 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Uber Driving
Replies: 30
Views: 2474

Re: Uber Driving

Would only do it with an inexpensive, good gas mileage, "not too nice" car. Like IDK a 5-year old toyota corolla or something maybe?
by justsomeguy2018
Fri Aug 16, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage Refinance --->4.375% to 3.5%
Replies: 2
Views: 640

Mortgage Refinance --->4.375% to 3.5%

I read somewhere it's best to refinance if rates drop 1% to 2% from your original rate. I am 32 months into a 30-yr mortgage. After checking around I've been told I can do a 30-yr refinance at 3.5%. After all standard closing fees (title, appraisal, recordkeeping etc.), out-of-pocket incremental cos...
by justsomeguy2018
Sat Jul 13, 2019 4:39 pm
Forum: Personal Investments
Topic: Am I holding too much cash?
Replies: 30
Views: 4195

Re: Am I holding too much cash?

Since you have more than 2 weeks of expenses in cash I have to answer Yes, you are holding too much cash in my opinion. I have no cash. I just invest all my money all the time. If I need to pay an expense, then I sell shares and pay the expense. You've probably been investing long enough to have en...
by justsomeguy2018
Sat Jul 13, 2019 4:25 pm
Forum: Personal Investments
Topic: Am I holding too much cash?
Replies: 30
Views: 4195

Am I holding too much cash?

38 y.o. with 1st child coming soon. Sitting on ~$150k cash (most of it earning around 2.15% blended interest) and ~$192k in investment/retirement accounts. I am maxing out workplace retirement accounts, so assuming no major market decline, probably looking to end the year at around $160k cash and $2...
by justsomeguy2018
Sun Jul 07, 2019 2:04 pm
Forum: Personal Investments
Topic: Best Options/Strategies for Funding College in 18 years
Replies: 11
Views: 1181

Re: Best Options/Strategies for Funding College in 18 years

nix4me wrote:
Thu Jul 04, 2019 8:01 pm
$2000 per year into a ESA in s&p 500 index fund. 18 years later (couple months ago) we moved it into prime money market. She starts in 2 months. Our plan worked flawlessly.
Did you do lump sum $2000 each year?

What is ESA S&P 500 index fund?
by justsomeguy2018
Sun Jul 07, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Navigating Tax Code Changes
Replies: 9
Views: 1133

Navigating Tax Code Changes

Perhaps like many of you, I think about my personal finances a lot. And try to make sure I am making good financial decisions. And thinking ahead towards the next 25 years, and finding optimal places to put money. I am getting a little stressed out about how tax code and government policy changes ma...
by justsomeguy2018
Thu Jul 04, 2019 3:31 pm
Forum: Personal Investments
Topic: Best Options/Strategies for Funding College in 18 years
Replies: 11
Views: 1181

Best Options/Strategies for Funding College in 18 years

What are recommendations for starting to fund child's college (start date in 18-19 years)? Current location = Texas. Current tax rate = 24% federal, 0% state. Will be in the 33% bracket if and when the current tax cuts expire in 2026. My thinking was to start a 529 plan thru Vanguard (heard Nevada's...
by justsomeguy2018
Sat Jun 29, 2019 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 171
Views: 15622

Re: Am I doing well financially?

Update (6/29/19): In the last 8 months, have done the following: Eliminated PMI Roughly maxed out 401k contributions Started backdoor Roth Cut food expenses to average of ~$1050/mo (sorry but don't think this is going to get much lower) Cut overall expenses to around $7700/mo (again, don't think th...
by justsomeguy2018
Sat Jun 29, 2019 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 171
Views: 15622

Re: Am I doing well financially?

Update (6/29/19): In the last 8 months, have done the following: Eliminated PMI Roughly maxed out 401k contributions Started backdoor Roth Cut food expenses to average of ~$1050/mo (sorry but don't think this is going to get much lower) Cut overall expenses to around $7700/mo (again, don't think thi...
by justsomeguy2018
Sat Jun 15, 2019 10:30 am
Forum: Personal Investments
Topic: A 401k only partially vested
Replies: 10
Views: 1145

Re: A 401k only partially vested

Thanks for the replies.

Guess I will just leave it alone and let them do what they need to do with it at the appropriate time.
by justsomeguy2018
Fri Jun 14, 2019 6:45 pm
Forum: Personal Investments
Topic: A 401k only partially vested
Replies: 10
Views: 1145

Re: A 401k only partially vested

Are there any negatives, such as the act of removing the vested shares becoming more complicated, if I just wait and let things happen on their own?
by justsomeguy2018
Fri Jun 14, 2019 6:15 pm
Forum: Personal Investments
Topic: A 401k only partially vested
Replies: 10
Views: 1145

A 401k only partially vested

I left a job recently where the employer match portion of my 401k was only partially vested. So far, they have not "removed" the non-vested portion from the 401k account. Should I reach out to the company and notify them that they should remove the non-vested funds? I am not sure if gets harder to "...
by justsomeguy2018
Thu May 30, 2019 7:19 pm
Forum: Personal Investments
Topic: Question on Tax Loss Harvesting a Mutual Fund
Replies: 5
Views: 517

Re: Question on Tax Loss Harvesting a Mutual Fund

There is also a special rule if you held the fund for six months or less. A portion of the capital loss on your sale equal to the capital-gain distribution must be reclassified from a short-term loss to a long-term loss. (I don't know whether brokerages get this right on the 1099-B forms; Vanguard ...
by justsomeguy2018
Wed May 29, 2019 6:40 pm
Forum: Personal Investments
Topic: Question on Tax Loss Harvesting a Mutual Fund
Replies: 5
Views: 517

Question on Tax Loss Harvesting a Mutual Fund

Hello, Let's say I bought $600 worth of a certain Mutual Fund. Let's say I bought 30 shares at $20 NAV per share. Let's say the Mutual Fund does a Capital Gain distribution to myself of $60; as a result of the distribution, the NAV per share drops to $18; the 30 shares are now valued at $540. Let's ...
by justsomeguy2018
Sun Feb 17, 2019 4:54 pm
Forum: Personal Investments
Topic: Help me with the Trad vs Roth 401k Math
Replies: 79
Views: 2457

Re: Help me with the Trad vs Roth 401k Math

OP, if your position is that you know that Roth is inferior but it works for you behaviorally, there is no reason for this thread. You have already made up your mind and your assumptions preclude a rational discussion. Personally, my presumption is that I am a rational investor. That isn't my "posi...
by justsomeguy2018
Sun Feb 17, 2019 4:33 pm
Forum: Personal Investments
Topic: Help me with the Trad vs Roth 401k Math
Replies: 79
Views: 2457

Re: Help me with the Trad vs Roth 401k Math

OP, if your position is that you know that Roth is inferior but it works for you behaviorally, there is no reason for this thread. You have already made up your mind and your assumptions preclude a rational discussion. Personally, my presumption is that I am a rational investor. +1. The original po...
by justsomeguy2018
Sun Feb 17, 2019 4:19 pm
Forum: Personal Investments
Topic: Help me with the Trad vs Roth 401k Math
Replies: 79
Views: 2457

Re: Help me with the Trad vs Roth 401k Math

OP, if your position is that you know that Roth is inferior but it works for you behaviorally, there is no reason for this thread. You have already made up your mind and your assumptions preclude a rational discussion. Personally, my presumption is that I am a rational investor. That isn't my "posi...
by justsomeguy2018
Sun Feb 17, 2019 1:24 pm
Forum: Personal Investments
Topic: Help me with the Trad vs Roth 401k Math
Replies: 79
Views: 2457

Re: Help me with the Trad vs Roth 401k Math

justsomeguy2018, This is a strawman that you created in order to support your point. The best combination is Trad. 401K and Roth IRAs. If someone can save beyond that, they are not normal people. Then, you do not need to worry about their discipline of investing in the taxable account. For a single...