Search found 18 matches

by Boilermaker10
Tue Oct 29, 2019 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Cash Back Bonuses - Race to $10k
Replies: 28
Views: 5149

Re: Cash Back Bonuses - Race to $10k

This year: Credit cards: Capital One Savor: $500 Fidelity Visa: $150 Wells Fargo cash wise: $150 Bank of America Cash back: $200 Capital One venture (in process): $500 Bank Bonus: Discover: $200 Simple Finance (in process): $500 Total: $2,200 Going to start limiting credit cards to $500 or better an...
by Boilermaker10
Sat Oct 12, 2019 7:16 pm
Forum: Personal Investments
Topic: CD or invest?
Replies: 13
Views: 1406

Re: CD or invest?

120k income. 50k expenses. Tons of cash. Expecting to not even need the farm equity. I'd easily put it into Wellington at minimum risk, would consider even Total Stock Market or other Vanguard all-in-one funds. What are they'd doing with the excess income? Roth IRA an option due to farm income? Exc...
by Boilermaker10
Sat Oct 12, 2019 10:37 am
Forum: Personal Investments
Topic: CD or invest?
Replies: 13
Views: 1406

Re: CD or invest?

$1.5 million, of which 60% is invested in Wellington, which is 65/35. So that puts them at 40% stock, 60% bond. Given what you stated, no more investment in the stock market should happen at that age IMO. CDs. Discussions of peaks and when they are is market timing, and this forum focuses on long t...
by Boilermaker10
Sat Oct 12, 2019 9:41 am
Forum: Personal Investments
Topic: CD or invest?
Replies: 13
Views: 1406

Re: CD or invest?

How stable is the farm income? Is it passive or do they work for it (i.e. is it going away soon?) Either way they seem fine on pension and SS alone. It may make sense to consider some of this money for future generations. Passive and stable. Yes this would mainly be thinking about future generation...
by Boilermaker10
Sat Oct 12, 2019 9:28 am
Forum: Personal Investments
Topic: CD or invest?
Replies: 13
Views: 1406

CD or invest?

Here is the situation. 78 and 84 year old couple in good health. Currently have 120k per year income between social security, pension, and farm income. Annual spend is about 50k. Have 250k in CDs maturing, wondering if they should put back into CDs @ 2.6% for 3 years, or to put in wellington or Well...
by Boilermaker10
Tue Oct 08, 2019 8:15 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA convert to Roth in same year?
Replies: 8
Views: 379

Re: SEP IRA convert to Roth in same year?

I have a 401k at a w-2 job I contribute to get the company match. No more because of high fee funds (lowest is 1.3%). So solo Roth 401k is out. The self employed income is from a farm business so 30k is the net after expenses for 2019. Expect income to be high in retirement as both wife and I are sa...
by Boilermaker10
Mon Oct 07, 2019 10:34 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA convert to Roth in same year?
Replies: 8
Views: 379

Re: SEP IRA convert to Roth in same year?

In January my wife starts a 100k/year job so our taxes will be higher from here forward. TIA Your taxes in the next year (or 10 years) are irrelevant. You want to compare your current marginal rate to tax on distributions in retirement. Generally taxes in retirement are lower than your current marg...
by Boilermaker10
Mon Oct 07, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA convert to Roth in same year?
Replies: 8
Views: 379

SEP IRA convert to Roth in same year?

Is it possible to contribute to an SEP IRA in 2019 and convert to Roth immediately to essentially raise my Roth space for 2019? I have no traditional or Sep balances at this time. I have already maxed out both my wife and my Roth IRA contribution for 2019. Why I am considering this. Taxable income f...
by Boilermaker10
Fri Oct 04, 2019 8:21 pm
Forum: Investing - Theory, News & General
Topic: How many are switching from Fidelity?
Replies: 140
Views: 15821

How many are switching from Fidelity?

Just curious how many Bogleheads are switching from fidelity to TD Ameritrade, Schwab, or ETrade with the dropping of commission fees? I have accounts at vanguard and Fidelity, and was considering moving the Fidelity accounts to one of the companies that has dropped commissions. I have already asked...
by Boilermaker10
Tue Aug 27, 2019 3:35 pm
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Re: Roth 401k or Traditional

I would just use my 401k to defer taxes and then rollover to IRA to get away from fees. Unless you have a qualifying event (reaching retirement age, termination of employment, termination of plan etc), you cannot do a rollover of employee salary deferral contribution 401k assets to IRA. Some plans ...
by Boilermaker10
Tue Aug 27, 2019 3:03 pm
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Re: Roth 401k or Traditional

Normally I would say max traditional 401k, but the inheritance could push you into a higher tax bracket, creating some uncertainty. One way you could look at it is that if the inheritance pans out, you will have won the game. Who cares if you invest $19K suboptimally by going traditional? If someth...
by Boilermaker10
Tue Aug 27, 2019 12:12 pm
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Re: Roth 401k or Traditional

If you're self employed and contributing 30K/yr to SEP-IRA, consider switching to Solo 401k. At your level of income, you may soon be ineligible for direct Roth IRA contributions which may have you considering the backdoor into Roth IRA (Traditional IRA contribution + Roth conversion). SEP-IRA asse...
by Boilermaker10
Tue Aug 27, 2019 10:57 am
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Re: Roth 401k or Traditional

If you go excess over the employer match portion, you're saving 22% today. That might easily pay those fees until rollover time and then some. -1.2% compounded over 20-30 years?? :oops: Probably won’t be at same place near that long. Can do an in service rollover and move money out of it, but I bel...
by Boilermaker10
Tue Aug 27, 2019 9:43 am
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Re: Roth 401k or Traditional

You might be in the 22% bracket this year, but I think you will only be in the 22% bracket next year if you each put $19k into tax-deferral. Maybe Roth 401k would be ok for her this year (at 22%), but it should probably be traditional 401k after that. This is because it is very common for couples t...
by Boilermaker10
Tue Aug 27, 2019 9:25 am
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Re: Roth 401k or Traditional

Over 50% of inheritance would be in farmland that has been passed down and expanded over generations in my family. Pretty confident it will be passed down at some point. Farmland will then throw off taxable cash (approx 2-5% of value depending on market conditions)
by Boilermaker10
Tue Aug 27, 2019 9:00 am
Forum: Personal Investments
Topic: Roth 401k or Traditional
Replies: 29
Views: 1127

Roth 401k or Traditional

Hi, My wife is starting a new job soon and has the option between a Roth 401k and traditional 401k. Wanted Bogle heads to weigh in on which makes sense for us. Age:24/24 Combined income with her new job: 220k Current tax bracket: 22% Tax bracket in retirement: ? (Eventually expect large inheritance,...
by Boilermaker10
Sun Mar 24, 2019 9:19 am
Forum: Personal Investments
Topic: Should I be more aggressive?
Replies: 17
Views: 2481

Re: Should I be more aggressive?

Will look into HSA, did not know much about them but they look like a very good tool. Both my wife and I are still on parents insurance till 26, we both have younger siblings and leaving us on doesn’t cost them anything. As far as a house, we live in a very rural area and are in no hurry to buy. The...
by Boilermaker10
Fri Mar 22, 2019 9:12 pm
Forum: Personal Investments
Topic: Should I be more aggressive?
Replies: 17
Views: 2481

Should I be more aggressive?

Main question is, I feel like I have a lot saved in cash that I can’t bring myself to put into the market. Thought I would ask the boards opinion on what to do. Story: 2 years out of college, 24 year old currently making around 90k, wife will graduate from Physician Assistant school soon and expects...