Search found 36 matches

by PowderDay9
Thu Nov 07, 2019 12:03 pm
Forum: Personal Investments
Topic: In-Plan 401k After-Tax to Roth conversion with backdoor Roth
Replies: 11
Views: 637

Re: In-Plan 401k After-Tax to Roth conversion with backdoor Roth

Yes, my current Fidelity 401k accepts all contribution types from outside 401k rollovers, including Roth 401k.
by PowderDay9
Thu Nov 07, 2019 12:03 am
Forum: Personal Investments
Topic: In-Plan 401k After-Tax to Roth conversion with backdoor Roth
Replies: 11
Views: 637

Re: In-Plan 401k After-Tax to Roth conversion with backdoor Roth

The IRS has provided official guidance in Notice 2014-54 on how to divide a roll-over distributions containing both pre-tax and after-tax amounts among several receiving accounts: If the pretax amount with respect to the aggregated disbursements that are treated as a single distribution is less tha...
by PowderDay9
Wed Nov 06, 2019 6:37 pm
Forum: Personal Investments
Topic: In-Plan 401k After-Tax to Roth conversion with backdoor Roth
Replies: 11
Views: 637

Re: In-Plan 401k After-Tax to Roth conversion with backdoor Roth

If your current employer's 401k plan accepts IRA rollovers. You can rollover the previous employer's employee after-tax contributions to a Roth IRA and the associated pre-tax earnings to a traditional IRA. Then you can rollover the pre-tax IRA balance into the current employer's 401k plan. The Back...
by PowderDay9
Wed Nov 06, 2019 5:35 pm
Forum: Personal Investments
Topic: In-Plan 401k After-Tax to Roth conversion with backdoor Roth
Replies: 11
Views: 637

In-Plan 401k After-Tax to Roth conversion with backdoor Roth

I have an old Schwab 401k account with a former employer. WIthin the account there are 3 sources (Traditional, Roth, After-Tax). The after-tax is only about 5k of which about 2k is contributions and 3k is earnings. The after-tax is a small portion of the whole 401k. I called into Schwab to try and r...
by PowderDay9
Sat Oct 26, 2019 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Advice: Windfall Makes Working Worse Than Not Working
Replies: 70
Views: 10038

Re: Advice: Windfall Makes Working Worse Than Not Working

Another vote for moving to a tax free state for a few years. I would hire a tax attorney to make sure you do everything right so California can't come after you for the taxes. FIRE for a few years and go back to work later if you'd like since it sounds like finding jobs won't be difficult. Californi...
by PowderDay9
Thu Oct 24, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Another how much mortgage can I afford post.
Replies: 34
Views: 2649

Re: Another how much mortgage can I afford post.

You live in a 650k house and you're asking if you can afford a $1M house? Does the $2100 include property taxes and insurance? How much more in taxes is the new house? Assuming your job really is that stable and you have the proper insurances (life, disability, etc), then yes you can afford it. Shou...
by PowderDay9
Thu Aug 22, 2019 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: White collars- How much is your work downtime?
Replies: 203
Views: 17949

Re: White collars- How much is your work downtime?

Isn't this thread full of selection bias? People who have a lot of downtime at work are much more likely to post on here. People who have no downtime can't post during business hours. Presumably they get home from work and are busy doing other things as well. Whereas people with downtime during the ...
by PowderDay9
Sat Aug 17, 2019 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard thinks I have a wash sale. Do I?
Replies: 42
Views: 5791

Re: Vanguard thinks I have a wash sale. Do I?

This same wash sale situation just happened to me. 7/12 Bought VTSAX at $74.39 (Lot 1) 8/11 Bought VTSAX at $72.47 (Lot 2) 8/15 Exchanged both of the above lots for VLCAX and VSMAX in a 87/13% ratio. VTSAX was exchange at a price of $70.50. I think the computer sold 87% of the 2 lots at the same tim...
by PowderDay9
Wed May 08, 2019 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: 2 Job Offers, Relocation - Stuck & Need Advice
Replies: 18
Views: 2350

Re: 2 Job Offers, Relocation - Stuck & Need Advice

Love the personal excitement factor. We should require that on all job decision posts. I've always created a matrix of the different aspects of the jobs then scored them 1-10. I'd suggest trying that. List the things that are important to you such as compensation, career growth, excitement, location...
by PowderDay9
Sat Apr 27, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter's First Job
Replies: 45
Views: 3945

Re: Daughter's First Job

Don't provide any advice to her unless she asks your opinion. Even then I would just talk through the pros and cons of each and not try to influence her decision. Hopefully she picks whichever job gives her the best experience to set her up for her next job. That's probably hard to know and is a lot...
by PowderDay9
Fri Apr 26, 2019 10:32 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Lowers 21 ETF Expense Ratios
Replies: 76
Views: 8661

Re: Vanguard Lowers 21 ETF Expense Ratios

Always good to see! Anyone know if they're planning to lower the equivalent mutual funds as well? I see VTSAX still at .04 for example.
by PowderDay9
Mon Apr 22, 2019 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Suddenly, even lower opinion of financial planners/money managers
Replies: 67
Views: 6263

Re: Suddenly, even lower opinion of financial planners/money managers

You’re a CPA? Then perhaps you should not use your experience to pass judgment on the difficulty of the test? No, I am neither CPA or attorney, and do not possess an accounting, finance, or law degree. For what it's worth, my fall/winter "on a whim" project will be to qualify for and sit for the CP...
by PowderDay9
Fri Apr 19, 2019 11:37 pm
Forum: Personal Investments
Topic: Rollover 401k to new employer vs roll into IRA
Replies: 5
Views: 466

Re: Rollover 401k to new employer vs roll into IRA

I'm about the same age as you and just had to make this decision. First, see which 401k has better investing options and consider all fees. You don't have to roll anything over. I left my old 401k for 10 years and just recently rolled over for simplicity. I chose to roll over both traditional 401k a...
by PowderDay9
Wed Apr 17, 2019 8:27 pm
Forum: Investing - Theory, News & General
Topic: Why does the stock market go up in the long term?
Replies: 62
Views: 5261

Re: Why does the stock market go up in the long term?

Aren't there going to be a lot more sellers as baby boomers retire and start living off their investments? I also think this will impact the supply of workers, reducing unemployment and making it harder to fill jobs. Therefore increasing wages. If companies have to pay more, their expenses rise and ...
by PowderDay9
Sun Apr 14, 2019 1:23 pm
Forum: Personal Investments
Topic: If you have plenty of money, why not 100% stocks in retirement?
Replies: 107
Views: 7874

Re: If you have plenty of money, why not 100% stocks in retirement?

To revise my original question, I probably would do 100% stock. I think it'd be wise to have 5 years living expenses in stable value money, and then 100% stocks for all remainder. That way, I have enough living expenses to weather almost all of the possible downturns and stay the course until the u...
by PowderDay9
Tue Mar 26, 2019 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off mortgage!
Replies: 88
Views: 8026

Re: Paid off mortgage!

I finally paid off my mortgage today! First time in my life that I am completely debt free :) Thanks to everyone on this board who have been a great resource along the way. Congrats fittan! This is a total coincidence but I paid off my mortgage today as well! I had been planning to do it this month...
by PowderDay9
Mon Mar 25, 2019 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Help with law school decision
Replies: 78
Views: 6069

Re: Help with law school decision

It's much better to finish at the top of your class at a state school than middle at a top tier school. I went to Notre Dame and wouldn't recommend their law school. South Bend is a college town but is very focused on undergrad and grad student life is a very different experience. You mentioned warm...
by PowderDay9
Sun Mar 10, 2019 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block form 8949 rounding
Replies: 7
Views: 596

Re: H&R Block form 8949 rounding

Yes i have some wash sales, which I presume is why the software listed out every transaction. The rounding makes it so I have about $5 less in losses than the 1099-B says. However, I'm above $3,000 in losses so I think the only impact is my carry forward losses are just less for next year. I'm hopin...
by PowderDay9
Sun Mar 10, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block form 8949 rounding
Replies: 7
Views: 596

H&R Block form 8949 rounding

I used H&R block to automatically populate the 100+ etf sales my robo executed last year (since have closed this account thankfully) and it put each sale into form 8949 and rounded each to the nearest dollar. When I look at the totals on my tax forms, it doesn't match the 1099-B totals. It's off by ...
by PowderDay9
Wed Jan 16, 2019 9:18 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 58170

Re: John Bogle is dead at 89

Incredibly sad day. Thank you Jack for everything you did for the ordinary investor. Your impact on the world is only surpassed by your character. May we all try to live up to your values and pay your service forward!
by PowderDay9
Mon Dec 17, 2018 10:52 pm
Forum: Personal Investments
Topic: TLH in December with dividends
Replies: 7
Views: 573

Re: TLH in December with dividends

Is the self reporting something that is only impacted by year end dividends? If you own a fund for less than 60 days and receive a qualified dividend in one of ther first 3 quarters, does vanguard automatically report that as non-qualified for you since they know that you owned it less than 60 days?
by PowderDay9
Mon Dec 17, 2018 10:27 pm
Forum: Personal Investments
Topic: TLH in December with dividends
Replies: 7
Views: 573

Re: TLH in December with dividends

Seems like something that can easily be missed if somebody is trading and isn't aware of the 60 day rule. I imagine many people don't report this because they just don't know?
by PowderDay9
Mon Dec 17, 2018 9:51 pm
Forum: Personal Investments
Topic: TLH in December with dividends
Replies: 7
Views: 573

TLH in December with dividends

I just opened a vanguard account in early November and bought total stock market and total international on 11/6 and 12/3. With my incredible market timing I'd now like to harvest losses. I believe there is a dividend payout on 12/20. When should i harvest losses? I'm planning to buy large and small...
by PowderDay9
Thu Dec 13, 2018 12:59 am
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

The company is a private company so there isn't any stock involved. I really need to do a better job of giving the details from the beginning! I agree though that if the company wanted to get their management to have some "skin in the game" that they'd require at least a 5 year distribution period. ...
by PowderDay9
Wed Dec 12, 2018 11:44 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

My wife met with the executive comp HR person and has confirmed that the distribution is a one-time election for all future years of deferred comp. The good news though is that she has until the first contribution into the account to decide. Since we're not deferring comp in 2019, we'll have until t...
by PowderDay9
Tue Dec 11, 2018 11:14 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

I might not be describing the annual payout options well enough. These also start after termination. So a 10 year annual payout begins 30 days after termination. So the lump sum gets you the money the fastest. I agree that chances are decent that she leaves for a higher paying job and we get hit wit...
by PowderDay9
Tue Dec 11, 2018 10:30 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

Can't opt out. They are giving her money each year into the NQDC account that she wouldn't have gotten if she was in a lower position. If she were closer to retirement I might lean towards a 5 year annual distribution but since she's so young I'm leaning towards immediate lump sum. If she takes anot...
by PowderDay9
Tue Dec 11, 2018 9:25 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

Also the company requires you to make this distribution election within the first 30 days of her new job. She started last month. I just found this out recently and the deadline is this Friday.
by PowderDay9
Tue Dec 11, 2018 9:12 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

Lets assume the mandatory company contribution is about 10k a year for her current role. Future promotions may greatly increase the company contribution. We're not planning on deferring additional income from salary or bonus until we're closer to retirement or our tax bracket greatly increases due t...
by PowderDay9
Tue Dec 11, 2018 6:20 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Re: Non-Qualified Deferred Compensation (NQDC) Distribution Election

I should clarify that the account uses "measurement" funds. The plan is through fidelity and there are low cost index funds (S&P 500, Extended Market, Total International, Total Bond, Target Date, etc) that you choose to invest in. The investment is just to measure how much money the company will pa...
by PowderDay9
Tue Dec 11, 2018 5:22 pm
Forum: Personal Investments
Topic: Non-Qualified Deferred Compensation (NQDC) Distribution Election
Replies: 20
Views: 1230

Non-Qualified Deferred Compensation (NQDC) Distribution Election

DW just took a new job that has a Non-Qualified Deferred Compensation program (Section 409A). She has to make a one-time irrevocable choice on how she wants the funds distributed upon her termination from the employer. Her choices are lump sum (paid 30-60 days after termination) or annual distributi...
by PowderDay9
Sun Nov 25, 2018 11:36 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2018 Tax Software Deluxe $18.00 - Black Friday sale
Replies: 314
Views: 29257

Re: H&R Block 2018 Tax Software Deluxe $18.00 - Black Friday sale

First time buying H&R block on amazon. Anyone else having problems getting it to download on your PC? I tried 3 different computers and am wondering if something is wrong with Amazon. I click download and it just gets stuck after downloading a few percent.
by PowderDay9
Sun Oct 14, 2018 3:07 pm
Forum: Investing - Theory, News & General
Topic: Taxable Vanguard Joint Account Titling
Replies: 6
Views: 715

Re: Taxable Vanguard Joint Account Titling

How does that differ from JTWROS? Or are you saying i should create a trust and title the account that way?

I don't have a trust right now. No children yet. How hard is it to transfer an existing brokerage account into a trust?
by PowderDay9
Sun Oct 14, 2018 10:00 am
Forum: Investing - Theory, News & General
Topic: Taxable Vanguard Joint Account Titling
Replies: 6
Views: 715

Re: Taxable Vanguard Joint Account Titling

I didn't realize you can't put a beneficiary on any joint account at vanguard. It sounds like TBE is the obvious choice due to additional creditor protections.

Planning to open the account today. Any other suggestions for opening an account?
by PowderDay9
Fri Oct 12, 2018 12:54 pm
Forum: Investing - Theory, News & General
Topic: Taxable Vanguard Joint Account Titling
Replies: 6
Views: 715

Taxable Vanguard Joint Account Titling

Long time forum reader and first post here. Excited to join this awesome community! I'm looking to open a taxable brokerage account with Vanguard and was looking for advice on how to title the account. DW and I live in Florida so I'm thinking Tenants By the Entirety might be a good option. How does ...