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ChicagoC

For what it's worth, we've tried to reduce our tax burden by maxing out the HSA on our high-deductible plan, In addition to maxing out the HSA, are you cashing flowing medical expenses? There is no requirement that you need to take the distribution in the same year of service. I use google drive to...

ChicagoC

My 401K plan started allowing for in-plan conversion which i took advantage of this year. In the past I would do an annual roll over to my roth and would have to deal with any earnings on the after tax contributions. With the in-plan conversion, I understand it eliminates this issue. Is there a need...

ChicagoC

Maybe we should call it an emergency plan rather than an emergency fund. I recall a vanguard article that broke the EF concept into income stressors and expenses stressors. Everyone should have a plan to deal with a prolonged impact to each stressors. How you do it is going to depend on your specifi...

ChicagoC

thanks. First off, let's assume you're doing enough 401(k) contributions to max any employer match. Beyond that, I would prioritize doing the tax-deductible traditional IRA contributions over the post-tax/mega backdoor Roth. In general, that seems to be the most likely way to minimize taxes paid and...

ChicagoC

It’s been about a year since my last review so thought check in on a few things. Made a number of improvements to simplify my portfolio; probably reduced the number of holdings in my accounts by about 50%. My AA Target is: US Equity 55-60% International 15 -20% Bond/Fixed Income - 20% Gold - up to 5...

ChicagoC

I need to file and extension and used turbo tax to file the request. Within the steps, I filled out my info to make my estimated payment through Turbotax. I must have fat fingered my 2018 AGI because the extension request was rejected so need to refile. My payment wasn’t schedule until tomorrow and ...

ChicagoC

Agree with much Sgal8713's reply above. Paying off student loan to "earn" 4.5% makes a lot of sense to me. Consider opening and funding 529 now, naming your wife or self as beneficiary. You can later change the beneficiary to your child (children) when the time comes. Thank you for noting...

ChicagoC

Former environmental engineer who worked in consulting for 10 years. I went off (while working) and got my MBA and ultimately left to go in house. What do you mean by 'in-house'? I became the client. I manage environmental issues for my company and go out and hire consultants to get the work done.

ChicagoC

Former environmental engineer who worked in consulting for 10 years. I went off (while working) and got my MBA and ultimately left to go in house. But that fit my skill set, I was always better at the strategic side than the technical engineering. You need to figure out what your skills are and what...

ChicagoC

Curious if others have utilized a different AA for megaback door roth contributions to manage some short term personal uncertainty? Quick background: 41, married, 3 kids. On track for my financial goals, 6 month EF, Currently have an 80/20 allocation. Retirement Assets are about $1m and about 10% ar...

ChicagoC

I’m in Illinois with three kids and fund at the 20k limit. When I look at projections(fidelity’s tool), if my kid goes to a state school, I will have a lot of excess. If they go to a expensive private school, I’ll still have a pretty big gap. I’m comfortable with that. The tax deduction is nice but ...

ChicagoC

Maybe it is time for people to start thinking about doing what's right for everyone (the public good) rather than whats good for themselves. Covid-19 is no joke, it may not be that dangerous to younger folks but it is very dangerous to anyone over 60. It is critical that we contain and slow down th...

ChicagoC

When you say you max out the retirement accounts, what exactLy do you mean? Are you 19k maxing the 401k or doing 57k to a mega back door roth. More detail on your specific accounts and contribution would help.

ChicagoC

I’ve used it. Nothing great though looks like they just just made some improvements. For example, it would not allow you to model a mega back door which my company allows. As of today, I noticed it will allow more than the 19.5k, but need to look at it more closely. It is linked to my companies bene...

ChicagoC

There is a lot of emotion involved. Right, and in this case you've let it take over. Your responses are essentially the equivalent of pointing and laughing. Not exactly helpful. I'm not in a good situation and I'm trying to figure out how to come out of this as financially well-off as possible. My ...

ChicagoC

Contact a lawyer to advise you. Purely as the owner of a business you should not necessarily incur personal liability, however your actions [or inaction) could result in the State or EPA holding you responsible for clean up cost,

ChicagoC

1) If I do not sell in order to "cash flow" college education, I do not need to pay capital gain tax. So, why should I need 529? KlangFool Assuming you max other retirement vehicles, a 529 is s great place for funds that would otherwise go into the taxable. Even if you don’t need it to ca...

ChicagoC

What is your position size relative to total equity in your portfolio? Each stock is roughly 1.6% of my marketable securities portfolio(stocks bonds etc) and roughly 2.7% of the equity portion of my marketable securities portfolio(stocks). I’m the original poster. Each stock is ~0.5% and an aggrega...

ChicagoC

I used to dabble in individual stocks. While my past picks have done well (i.e., beat the market), I am under no illusion that I am a good stock picker. I have moved to a index strategy i still have some individual stocks in my taxable. A few have had killer a year and wondering now if it is the rig...

ChicagoC

Never acquire a car(s) worth more than 6 months income(s). The (s) is for a couple with a couple of cars. How you pay for that makes very little difference to your long term financial health, be it cash, lease or whatever. Naughty of me, but I suspect that the OP already knows that the toy car he i...

ChicagoC

H-Town wrote: ↑Sat Nov 30, 2019 10:32 am Money is fungible.

Generally I agree though, all investment vehicles are not equal. Funding with cash flow would pass up the opportunity in 2020 to create a future tax free income stream through the roth.

ChicagoC

I am in the market for a new car in the first couple of months next year. Trying to decide the best approach to fund the purchase. Between the trade in and cash I have set aside, I have about 40% of the purchase price. For the remaining 60% I could 1] take a 3-4% loan (would most likely go this rout...

ChicagoC

I am involved in a lot of business litigation for my company and typically the expectation that you go into mediation with authority to settle. Since you will be present, I think you have all the authority you need. However, you probably should go in with a number that you will be comfortable with s...

ChicagoC

I worked for about 8 years in oil and gas and most recently left for a more stable industry. I absolutely loved the oil industry, the people I worked with, and the complexities of the industry. Also, the pay and benefits were great. I basically went from zero net worth to $500k in 5 years. I am ete...

ChicagoC

Individual bonds fluctuate in price on a daily basis too. You could choose to not look at those price fluctuations and just tell yourself that you are earning a constant yield for the length of the bond. But, you could also do this with a bond fund. Just don't look at the price. I think this is whe...

ChicagoC

magicrat wrote: ↑Wed Sep 04, 2019 12:00 pm
ChicagoC wrote: ↑Wed Sep 04, 2019 9:47 am individual bonds that have rolling maturities
How is this different than a bond fund?

Because as long as I hold to maturity I don’t lose principal. The bond fund puts the principal at risk. Need to review the wiki above

ChicagoC

Silk McCue wrote: ↑Wed Sep 04, 2019 9:50 am We have a fully developed Wiki for this very topic which I found using the search bar. Enjoy

https://www.bogleheads.org/wiki/Individ ... _bond_fund

Cheers

Thanks. I thought I did a search, but obviously Didn’t look hard enough. Will review.

ChicagoC

I struggle to get my head around investing in individual bonds vs bond funds. I recognize the benefits of bond funds (e.g., diversification, liquidity, etc), but it seems counter intuitive that they can lose value when rates start going up. However, if you bought in individual bond, barring default ...

ChicagoC

Thansk for the feedback, answers provided in edit to original posts.

ChicagoC

Probably 24% this year but should bump up with the next year or so.

Annual contribution to my 401k is about 50k this and should max out within the next year or so. I rollover the after tax to Roth.

Wife contributes about 3500 to her 401k.

ChicagoC

New to the forum and asked a couple of questions but figured I would do it the right way. My FIL handles my wife's money in the Schwab. Historically has done pretty well, though some of his funds have pretty high ERs. If I pressed, she would roll it over to fidelity. Any advice how to simplify and i...

ChicagoC

Thanks for everyone's reply. Ran some simulation and backtesting on various portfolio on portfoliovisualizer and think I will stick with an 80/20 for now. Now is just need to consolidate to a simple 3 fund portfolio. I am way out of wack in my taxable account (individual stock heavy). do you recomme...

ChicagoC

I am looking to simplify my portfolio. I have a about 20 different investments in my IRA and about 10 in my 401K. Thankfully all are relatively low fees, but don't see all of the complexity helping me. As part of this simplification, I am thinking I should adjustment my asset allocation from 80 / 20...

ChicagoC

Option 2: Max out mega-backdoor I already take advantage of after-tax to Roth with my 401K, but I am about $5-6K short of completely maxing it out. I feel I am on track to retire between 55 – 60 and don’t think the extra $ will move the needle that much. 15 years times $6k per year = $90k in contri...

ChicagoC

I just turned 40 and looking for some advice. Portfolio Summary 6 month+ emergency fund ~$75k taxable (90% stocks / 10% bonds) ~$65K in 529s for 3 kids ~$70K roth IRA (80% stocks / 20% bonds across retirement funds) ~$260K IRA (80% stocks / 20% bonds across retirement funds) ~$315k 401K (80% stocks ...

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Search found 35 matches

Re: saving for retirement after maxing out 401k

Megaback door q - in plan conversions

Re: Are emergency funds for suckers?

Re: Portfolio Check-in

Portfolio Check-in

Turbo tax online extension request

Re: Portfolio Review and Five-Year Plan

Re: Hopeless Civil Engineer

Re: Hopeless Civil Engineer

Different AA for Megaback Door

Re: 529 Savings ....pros and cons

Re: Spring break Florida/Universal Studios & COVID 19

Re: Early retirement without taxable assets?

Re: Fidelity Planning Tool

Re: Home selling advice: Agent vs. FSBO vs. redfin

Re: Inheriting business with possible EPA issues

Re: How much in 529 is enough to fund college?

Re: Individual Stocks

Individual Stocks

Re: Funding a new car purchase

Re: Funding a new car purchase

Funding a new car purchase

Re: Should I sign authorization to settle lawsuit prior to mediation/trial

Re: Bogleheads in Oil and Gas?

Re: Conceptual Q - Bonds vs Bond Funds

Re: Conceptual Q - Bonds vs Bond Funds

Re: Conceptual Q - Bonds vs Bond Funds

Conceptual Q - Bonds vs Bond Funds

Re: Portfolio Review

Re: Portfolio Review

Portfolio Review

Re: AA Adjustment Timing

AA Adjustment Timing

Re: Surplus $$ Investing

Surplus $$ Investing