Search found 189 matches

by life in slices
Thu Feb 18, 2021 5:50 am
Forum: Personal Investments
Topic: Massachusetts and Solo 401(k) tax treatment
Replies: 10
Views: 638

Re: Massachusetts and Solo 401(k) tax treatment

Why couldn’t you just contribute to a Roth Solo 401k & not have to worry about tracking your Solo 401k tax deductible contributions for future Massachusetts state tax payment? bill We are in a pretty high tax bracket MFJ - usually 32 or 35% - so in the end am happy doing tax deferment federally...
by life in slices
Thu Feb 18, 2021 5:45 am
Forum: Personal Investments
Topic: Massachusetts and Solo 401(k) tax treatment
Replies: 10
Views: 638

Re: Massachusetts and Solo 401(k) tax treatment

The more I read through additional material it looks like Mass does not allow for Gross Income deductions for contributions to a solo 401k - rather pay taxes now, keep track of basis so you aren't taxed twice upon distribution Exactly right - the pertinent info directive 08-3 is clear that there is...
by life in slices
Wed Feb 17, 2021 4:24 pm
Forum: Personal Investments
Topic: Massachusetts and Solo 401(k) tax treatment
Replies: 10
Views: 638

Re: Massachusetts and Solo 401(k) tax treatment

I know this is a bit in the weeds, but bumping for end of the day ET feedback if anyone has any direct experience The more I read through additional material it looks like Mass does not allow for Gross Income deductions for contributions to a solo 401k - rather pay taxes now, keep track of basis so ...
by life in slices
Wed Feb 17, 2021 10:44 am
Forum: Personal Investments
Topic: Massachusetts and Solo 401(k) tax treatment
Replies: 10
Views: 638

Massachusetts and Solo 401(k) tax treatment

Hi Everyone, Have a question specifically about tax treatment of solo 401(k)s by the state of Massachusetts in which we both live, as I look to file 2020 tax return As a sole-proprietor, my wife makes about $15K per year on 1099 income (no other income besides this) and puts all allowable amounts (a...
by life in slices
Sun Feb 07, 2021 7:40 am
Forum: Personal Finance (Not Investing)
Topic: How do you protect your paid off house?
Replies: 41
Views: 4148

Re: How do you protect your paid off house?

To the OP - as mentioned further above - check to see if your state allows for a declaration of homestead to be filed on your property. That declaration (depending on the laws of your state) usually excludes your home from any private lawsuit judgements
by life in slices
Wed Feb 03, 2021 4:52 pm
Forum: Personal Investments
Topic: Funding Fidelity solo 401k in person rather than ACH
Replies: 35
Views: 1924

Re: Funding Fidelity solo 401k in person rather than ACH

So i did this by calling Fidelity last week (at the number mentioned below) and waited maybe 5 minutes at most (maybe I was lucky) In talking to the rep about how to bypass the longer hold and get directly to his department, he mentioned doing the following: 1. Call 800-544-5373 (I believe that this...
by life in slices
Mon Feb 01, 2021 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: IRA conversion (backdoor Roth) basis in Turbotax
Replies: 4
Views: 209

Re: IRA conversion (backdoor Roth) basis in Turbotax

TFB has a good article that has a step by step
I use it as a reference when I do my taxes
https://thefinancebuff.com/how-to-repor ... botax.html
by life in slices
Mon Feb 01, 2021 11:11 am
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 516
Views: 43544

Re: What is your age and asset allocation ?

52 70/30 Equities: 70% Total Stock US/30% Total International Bonds; Mostly Total bond US I have the same asset allocation and slightly younger than you. How long are you looking to stay at that allocation and when do you think that you’ll get more conservative (if ever)? I’m thinking of staying at...
by life in slices
Fri Jan 29, 2021 3:40 pm
Forum: Investing - Theory, News & General
Topic: I still believe in “getting rich slowly”
Replies: 91
Views: 8688

Re: I still believe in “getting rich slowly”

iamblessed wrote: Fri Jan 29, 2021 1:39 pm Your other friends that lost money in the market will stay quiet.
+1 Survivor bias distorts the reality of what is going in actuality - People will not tell you when they lose money
by life in slices
Fri Jan 29, 2021 1:47 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2171
Views: 261460

Re: Post your Financial Milestone Announcements Here

marti038 wrote: Thu Jan 21, 2021 1:47 pm Yesterday we hit $1M in retirement savings AND our net worth passed $1.5M. Exactly one year earlier (1/20/20) our net worth first reached $1M.

2020 was a rough year, but it did not disappoint in terms of investing.
Congrats! Nice milestones to meet.
by life in slices
Thu Jan 28, 2021 2:59 pm
Forum: Personal Investments
Topic: I just sold and went to cash - how long? [for my HSA to transfer to Fidelity]
Replies: 14
Views: 1633

Re: I just sold and went to cash - how long? [for my HSA to transfer to Fidelity]

I usually transfer cash from my Health Equity account (I keep it in cash as there is a $2000 minimum before investing at HE) to Fidelity a few times a year, doing the transfer paperwork from the Fidelity side. Unfortunately it is a long process Looking at my notes on some recent ones - I did the TOA...
by life in slices
Fri Jan 22, 2021 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1825
Views: 269849

Re: Fidelity as a one stop shop

I have a taxable account at Vanguard and all my/our retirement accounts at Fidelity. I have given some thought on consolidating all our accounts at Fidelity, mostly for simplification and perhaps make it easier on my wife to manage in the future if I was disabled/injured/died. My only concern would ...
by life in slices
Fri Jan 22, 2021 12:20 pm
Forum: Investing - Theory, News & General
Topic: favorite investing books??
Replies: 30
Views: 1849

Re: favorite investing books??

The book that started me on my journey was Allan Roth’s “How a second grader beats Wall Street”

My most recent favorite read was Morgan Housel’s “The psychology of money”

The books that kept me going - Thomas Stanley’s Millionaire next door and stop acting rich
by life in slices
Sat Jan 16, 2021 6:57 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2171
Views: 261460

Re: Post your Financial Milestone Announcements Here

Congrats!! That is an awesome accomplishment

We just made last payment for second Kid - third child off to college in the fall so almost there ourselves
by life in slices
Sat Jan 16, 2021 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone Use a 3rd Party Bill Pay? (non-business)
Replies: 22
Views: 1185

Re: Anyone Use a 3rd Party Bill Pay? (non-business)

Never...It has been working really well for me
by life in slices
Sat Jan 16, 2021 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone Use a 3rd Party Bill Pay? (non-business)
Replies: 22
Views: 1185

Re: Anyone Use a 3rd Party Bill Pay? (non-business)

I have used Paytrust for about a Decade - bills are sent to a PO Box, scanned in and a notification sent. Payments are done by rules, either automatic or manual depending on what you feels works best. I went this way due to travel with my job and bills getting lost in the piles of mail at home from ...
by life in slices
Wed Jan 13, 2021 12:57 pm
Forum: Personal Investments
Topic: $4 in IRA - how to clear it out so I can do backdoor Roth conversions?
Replies: 14
Views: 1035

Re: $4 in IRA - how to clear it out so I can do backdoor Roth conversions?

IMO just cash it out and close the account if you want - its only $4 - even if you have to pay fees and taxes, it is only $4
Everything else takes more time and your time is probably more valuable than the $4
by life in slices
Fri Jan 08, 2021 6:18 am
Forum: Personal Consumer Issues
Topic: Tips to stick to a weight loss diet?
Replies: 297
Views: 19646

Re: Tips to stick to a weight loss diet?

Jason Fung's book the Obesity Code is an excellent read and does a good job discussing the relationship between diet and weight - It is definitely worth the read
by life in slices
Wed Jan 06, 2021 7:06 pm
Forum: Personal Investments
Topic: Form 8606 errors; how to fix?
Replies: 8
Views: 541

Re: Form 8606 errors; how to fix?

TFB has a good article about how to report a backdoor Roth in TurboTax
https://thefinancebuff.com/how-to-repor ... botax.html
by life in slices
Wed Jan 06, 2021 6:53 am
Forum: Personal Investments
Topic: $50k error in Fidelity 401k
Replies: 19
Views: 1879

Re: $50k error in Fidelity 401k

How long were you with your company?
Any chance that the missing $ was part of the company match that wasn't yet vested?
by life in slices
Sat Jan 02, 2021 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Help with new Solo 401(k) plan
Replies: 10
Views: 615

Re: Help with new Solo 401(k) plan

I do exactly the same calculation in an Excel spreadsheet for my wife's 1099 income
Assuming you are using Profit=Gross 1099 pay minus expenses, you have the calculations correct.

Best wishes for 2021
by life in slices
Fri Jan 01, 2021 2:21 pm
Forum: Investing - Theory, News & General
Topic: Official Registration For The 2021 Boglehead Contest
Replies: 638
Views: 15284

Re: Official Registration For The 2021 Boglehead Contest

My totally random and optimistic guess

4027
by life in slices
Wed Dec 30, 2020 4:46 pm
Forum: Personal Consumer Issues
Topic: A fantastic alternative to a Peloton (at least for me)
Replies: 25
Views: 3439

Re: A fantastic alternative to a Peloton (at least for me)

Awesome! I am a Zwift fan and spend much of the winter on the trainer Built a rockerplate last season to give side to side & back and forth motion which makes the ride much more enjoyable https://photos.app.goo.gl/SqtoRWsbV1qRtdyV6 There is an active group on facebook ("rocker plate") ...
by life in slices
Wed Dec 30, 2020 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Where to move/open my HSA?
Replies: 3
Views: 288

Re: Where to move/open my HSA?

Like above, +1 for Fidelity

I opened an HSA account there earlier this year and moved $ there a few times from my employer's HSA (and will do so in upcoming years). No issues at all.
by life in slices
Tue Dec 22, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564463

Re: Share your net worth progression

My progression is below. This forum is awesome. I thank everyone here for the great insights. I only wish I had found this forum earlier. My net worth does not include home equity of about 300k, 100k in 529s, 600k in RSUs. The salary does not include bonuses. Really didn't have a good idea on net w...
by life in slices
Tue Dec 22, 2020 2:13 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2171
Views: 261460

Re: Post your Financial Milestone Announcements Here

Kind of a financial milestone . . achieved only because I found this site less than 2 months ago: Moved all my Edward Jones money to Fidelity (me) and Vanguard (wife) Got both my and my Wife's tIRA balances to zero (as of today!) and rolled into employer plans Successfully completed backdoor Roth's...
by life in slices
Tue Dec 22, 2020 1:17 pm
Forum: Investing - Theory, News & General
Topic: 70/30 - 60/40 AA in accumulation stage
Replies: 41
Views: 3780

Re: 70/30 - 60/40 AA in accumulation stage

OP - this thread has some good info in it
viewtopic.php?f=10&t=324381
by life in slices
Tue Dec 22, 2020 1:14 pm
Forum: Personal Investments
Topic: Theft in HSA account - Help needed
Replies: 25
Views: 3656

Re: Theft in HSA account - Help needed

Cash withdrawal makes me think your ATM card was cloned or stolen. Deactivate it until you know more. That wouldn’t explain the transaction selling the investments though so that implies a bigger breach. I believe most HSAs will auto sell investments to cover withdrawal requests As another poster m...
by life in slices
Tue Dec 22, 2020 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564463

Re: Share your net worth progression

Moved to the US 1999 Had a fulfilling IT career DW works part time, 1 child. L(Way)BYM Saved and invested aggressively Buy and hold, think long term, don't time the market, watch the fees, index... index... index... Driving same 2001 Honda Annual combined income in 2017 was $190k Married 25 years, ...
by life in slices
Mon Dec 21, 2020 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k Contribution Limits - Is this correct?
Replies: 9
Views: 405

Re: Solo 401k Contribution Limits - Is this correct?

EmployER contribution is limited to 20% of your net self-employment income, and as mentioned above needs to be pre-tax.
But it looks like you have plenty of space to do so.
by life in slices
Sun Dec 20, 2020 7:41 am
Forum: Personal Investments
Topic: Extra money, Solo 401K?
Replies: 27
Views: 1001

Re: Extra money, Solo 401K?

Hi, I have some extra money this year. Husband and I already contributed max to 401K and both tIRAs. I have about extra $10K I could put somewhere. Would it be worth opening Solo 401K? Or is this such small amount that it's not worth it and maybe I should just keep it in savings account at 3% APY? ...
by life in slices
Fri Dec 18, 2020 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: What is the Worst Financial Decision/Mistake You Have Made?
Replies: 230
Views: 18406

Re: What is the Worst Financial Decision/Mistake You Have Made?

I've said it before; major in chemistry/biochemistry. Even with over 10 years experience and a MSc most companies want to pay me $40-50k and contract no benefits. I have a good job currently and may be able to ride it to retirement but I am seriously looking for a plan B that will get me away from ...
by life in slices
Thu Dec 17, 2020 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Invest my HSA
Replies: 3
Views: 285

Re: Where to Invest my HSA

+1 for HSA accounts at Fidelity - no cost to open and no ongoing fees MishkaWorries - I am able to fill out the TOA form on the Fidelity website and submit it electronically (no need to mail it) - are you sure you can't do the same To the OP, why not transfer all of the HSA to something like Fidelit...
by life in slices
Wed Dec 16, 2020 6:48 am
Forum: Personal Consumer Issues
Topic: Where to Retire?
Replies: 262
Views: 23737

Re: Where to Retire?

The only people who ever say its cheaper to move are those who live in high cost of living areas, and high tax areas. California, new york, new jersey. Thats about it. Moving from PA to FL does practically nothing for us. Doesnt make financial sense. REnting a place for a couple months in FL during...
by life in slices
Mon Dec 14, 2020 1:59 pm
Forum: Personal Consumer Issues
Topic: How to watch all NFL games
Replies: 81
Views: 4963

Re: How to watch all NFL games

For a cheaper solution - on youtube TV I think it is $10/mo additional as part of a larger sports package - you can watch NFL redzone, which cycles through all of the current games (mostly when they are in the redzone hence the name -but they also will show most top plays and ongoing game summaries)...
by life in slices
Sun Dec 13, 2020 5:45 pm
Forum: Personal Consumer Issues
Topic: Cord cutting 2020 - Youtube TV
Replies: 142
Views: 12826

Re: Cord cutting 2020 - Youtube TV

We did the free trial plus another month - the service is very good but too expensive. We might try Philo next, it's only $20 but doesn't include sports. I signed up for a free 2 week trial but just couldn't deal w/ all the commercials; $65/month AND I have to watch commercials?!? No thanks... Whoa...
by life in slices
Sun Dec 13, 2020 5:44 pm
Forum: Personal Consumer Issues
Topic: Cord cutting 2020 - Youtube TV
Replies: 142
Views: 12826

Re: Cord cutting 2020 - Youtube TV

I am at a crossroads with TV service Have had YouTube TV for a couple of years and it's been okay. Price has gone up and they have been cancelling channels over the past 6 months. The hardest has been the removal of our local (Boston) sports channel NESN - if that isn't brought back early next year ...
by life in slices
Sun Dec 13, 2020 6:43 am
Forum: Personal Investments
Topic: Backdoor Roth - 1 cent in tIRA
Replies: 15
Views: 1056

Re: Backdoor Roth - 1 cent in tIRA

Just do the full conversion this year - much cleaner in filling out form 8606 If the overage is less than 0.50 it will round down to zero and not have any tax implications. Over 0.50 you will pay taxes on the excess, but that is so minimal it should not impact doing a full conversion For example, in...
by life in slices
Sat Dec 12, 2020 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564463

Re: Share your net worth progression

Long time reader, first time poster, sharing the first couple of years of my progression journey so far. Jan, 2017: 3k (finished college) Jan, 2019: 12k (finished grad school, started job in tech) Jan, 2020: 60k Dec 11, 2021: 180k (just got promoted, so hoping for an even better 2021) Congratulatio...
by life in slices
Fri Dec 11, 2020 11:31 am
Forum: Personal Consumer Issues
Topic: Does a cheap road bike really exist?
Replies: 138
Views: 8341

Re: Does a cheap road bike really exist?

This is probably an "of-course" post, but wanted to say it anyway Regardless of the bike, do spend some decent money on a solid, well-rated helmet I had a spectacular high speed crash about 2.5 weeks ago onto the pavement, taking most of the impact on my left side including my head. Althou...
by life in slices
Wed Dec 09, 2020 6:49 am
Forum: Investing - Theory, News & General
Topic: Book on investing for young adult?
Replies: 9
Views: 633

Re: Book on investing for young adult?

After reading it last week, I think that Ben Carlson's new book would be a decent intro for younger adults starting out
https://www.amazon.com/Everything-Need- ... B08NWJPLDD

Good summaries with small chapter sizes that are easy to get through
by life in slices
Mon Dec 07, 2020 6:34 am
Forum: Personal Investments
Topic: Am I thinking about this correctly for Taxable?
Replies: 14
Views: 1692

Re: Am I thinking about this correctly for Taxable?

I have VTSAX and VTIAX in my taxable account at 70/30 and it makes the most sense to me By having those two you can set an allocation that you feel is the best for you; 80/20 IMO is a good choice I use the funds vs. ETFs as I can setup automatic regular deposits and investments (set it and forget it)
by life in slices
Sat Dec 05, 2020 5:55 pm
Forum: Investing - Theory, News & General
Topic: What are your crypto holdings!
Replies: 145
Views: 8290

Re: What are your crypto holdings!

And this gets back to my original point: the understanding of crypto here is generally quite poor. And this is typically combined with the conviction of an expert on the topic. It’s exactly why I went all in on crypto earlier this year, there is a revolution happening and the vast majority of inves...
by life in slices
Sat Dec 05, 2020 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Defining your emergency savings account
Replies: 32
Views: 3236

Re: Defining your emergency savings account

EFs for me is multilayered - HY savings account - iBonds - HSA (pulling out amounts already spend on healthcare) - Roth As I have entered my 50s, I do feel the pull to have more of my annual expenses in some sort of accessible EFs Have seen a few of my friends and colleagues go through extended unem...
by life in slices
Sat Dec 05, 2020 6:49 am
Forum: Investing - Theory, News & General
Topic: What are your crypto holdings!
Replies: 145
Views: 8290

Re: What are your crypto holdings!

If you had a few buck to put into crypto, which one is best? Ripple Stellar Both seem to be promising and low cost to buy at this point. From a long term perspective it could be a good buy. Strongly, strongly disagree. I’m a huge crypto bull, and have about half my net worth in crypto. But I also t...
by life in slices
Fri Dec 04, 2020 12:06 pm
Forum: Investing - Theory, News & General
Topic: What are your crypto holdings!
Replies: 145
Views: 8290

Re: What are your crypto holdings!

I agree that its not much "work" but for someone who is scared of technology the thought of storing their Bitcoin in an wallet might be scary. I think its pretty easy but I would not encourage anyone to keep their Bitcoin on an exchange like coinbase for long periods of time. But that is ...
by life in slices
Fri Dec 04, 2020 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2475
Views: 564463

Re: Share your net worth progression

Hello all, this is my first post on here! I turned 20 not too long ago, and want to begin this journey at this stage of my life. I'm from the UK so I'm trying to remind myself that everyone is richer in the US LOL :D So I'm currently in my 2nd year of University (College), and my part time job has ...