Search found 13 matches

by foster918
Mon Sep 09, 2019 7:59 pm
Forum: Personal Investments
Topic: IRA or rollover IRA exempt asset / creditor protection
Replies: 3
Views: 284

Re: IRA or rollover IRA exempt asset / creditor protection

Texas protects IRAs so it doesn’t matter what the original source of the funds were. Since they don’t know where they came from it doesn’t matter anyway and can’t even prove it is a rollover. This chart shows that it is exempt in Texas. They can move this to another brokerage without concern. Just ...
by foster918
Sun Sep 08, 2019 7:34 pm
Forum: Personal Investments
Topic: IRA or rollover IRA exempt asset / creditor protection
Replies: 3
Views: 284

IRA or rollover IRA exempt asset / creditor protection

A family member of mine has a rollover IRA and wants to move it to another IRA as the current brokerage has a financial advisor that takes a management fee and puts the funds in high expense ratio funds. He doesn't know what the rollover IRA was originally. He said he had it in the 1970s and 1980s w...
by foster918
Sun Sep 08, 2019 6:39 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2043
Views: 352952

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

For most brokerages I've looked into lately, a $350,000 transfer would give a $600 transfer bonus. Do any of you know of brokerages that would also cover the previous brokerage's transfer fee? I'm looking for a good place to transfer to to help someone get the best deal and a great brokerage as well...
by foster918
Tue Aug 27, 2019 10:05 pm
Forum: Personal Investments
Topic: Employer's SIMPLE IRA - please help with fund selection
Replies: 9
Views: 371

Re: Employer's SIMPLE IRA - please help with fund selection

Yes, I just made an edit to my original post where there are other funds in the Class C funds with smaller loaf but bigger expense ratio.
by foster918
Tue Aug 27, 2019 8:24 pm
Forum: Personal Investments
Topic: Employer's SIMPLE IRA - please help with fund selection
Replies: 9
Views: 371

Re: Employer's SIMPLE IRA - please help with fund selection

Thank you jcerickson, David Jay, and lakpr. I will try to get my funds from the SIMPLE IRA at Invesco transferred to a "frozen" SIMPLE IRA periodically. I would want to make the transfers twice a month as I get paid once near the beginning of the month and once near the middle of the month. Or doing...
by foster918
Tue Aug 27, 2019 4:24 pm
Forum: Personal Investments
Topic: Employer's SIMPLE IRA - please help with fund selection
Replies: 9
Views: 371

Re: Employer's SIMPLE IRA - please help with fund selection

https://www.invesco.com/static/us/inves ... f1bf0aRCRD

This is the form.

It appears to be a Form 5305 as shown on page 12 from the link.
by foster918
Tue Aug 27, 2019 2:10 pm
Forum: Personal Investments
Topic: Employer's SIMPLE IRA - please help with fund selection
Replies: 9
Views: 371

Employer's SIMPLE IRA - please help with fund selection

I am joining my employer's SIMPLE IRA plan. It uses Invesco. The funds can be found here: https://www.invesco.com/portal/site/us/template.PAGE/financial-professional/mutual-funds/performance/?javax.portlet.tpst=dc67751c7172c5ac0dec4a31524e2ca0&javax.portlet.prp_dc67751c7172c5ac0dec4a31524e2ca0_actio...
by foster918
Sun Jul 14, 2019 5:12 pm
Forum: Personal Investments
Topic: High ER 401k vs Taxable Account
Replies: 21
Views: 1331

Re: High ER 401k vs Taxable Account

Perhaps your wife can consider a SIMPLE IRA for her workplace retirement plan. I believe those are pretty low cost. It would require either having an employer match of 3% or an automatic 2% to everyone on the plan though.

Edit: jcerickson beat me to it
by foster918
Sun Jul 14, 2019 12:06 pm
Forum: Personal Investments
Topic: Is Fidelity Total US Index (FSKAX) preferable to VGs (VTSAX) in a Taxable Account?
Replies: 4
Views: 905

Re: Is Fidelity Total US Index (FSKAX) preferable to VGs (VTSAX) in a Taxable Account?

No, if you want to use a total stock market mutual fund in a taxable account, you should use VTSAX because it is more tax-efficient than FSKAX or other mutual funds. If you use ETFs, most ETFs will have similar tax efficiency, whether you use VTI, SCHB, or ITOT.
by foster918
Fri Jul 12, 2019 8:39 am
Forum: Personal Investments
Topic: Can I put money in Roth before I earn it?
Replies: 8
Views: 1372

Re: Can I put money in Roth before I earn it?

Thank you all for your responses! Very helpful.
by foster918
Thu Jul 11, 2019 11:48 pm
Forum: Personal Investments
Topic: Can I put money in Roth before I earn it?
Replies: 8
Views: 1372

Can I put money in Roth before I earn it?

Let's say it is January 1, and I have $6000 in the bank and am employed and will expect to earn well more than $6000 that year. Can I put that money into a Roth IRA on January 1 even though I haven't gotten any paychecks or earned any money yet as of that date? Or would I have to wait until I actual...
by foster918
Fri May 03, 2019 10:23 am
Forum: Personal Investments
Topic: Effect of capital gains on your income tax and deductions
Replies: 4
Views: 637

Effect of capital gains on your income tax and deductions

Let's say I earn $100,000 a year from my job. I use the standard deduction of $12,000 a year. Let's say I contribute $13,000 a year in a traditional 401k. Under these assumptions, I would be taxed only on the $75,000 of income at the ordinary income rate after the $25,000 in deductions from the stan...