Search found 35 matches

by ChicagoC
Wed Jan 06, 2021 7:22 am
Forum: Personal Investments
Topic: saving for retirement after maxing out 401k
Replies: 18
Views: 1812

Re: saving for retirement after maxing out 401k

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...
by ChicagoC
Fri Jan 01, 2021 9:13 am
Forum: Personal Investments
Topic: Megaback door q - in plan conversions
Replies: 6
Views: 436

Megaback door q - in plan conversions

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...
by ChicagoC
Fri Aug 21, 2020 5:58 am
Forum: Personal Finance (Not Investing)
Topic: Are emergency funds for suckers?
Replies: 202
Views: 16259

Re: Are emergency funds for suckers?

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...
by ChicagoC
Sun Jul 19, 2020 1:28 pm
Forum: Personal Investments
Topic: Portfolio Check-in
Replies: 3
Views: 423

Re: Portfolio Check-in

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...
by ChicagoC
Sun Jul 19, 2020 11:18 am
Forum: Personal Investments
Topic: Portfolio Check-in
Replies: 3
Views: 423

Portfolio Check-in

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...
by ChicagoC
Tue Jul 14, 2020 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Turbo tax online extension request
Replies: 1
Views: 160

Turbo tax online extension request

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 ...
by ChicagoC
Mon Jul 06, 2020 12:03 pm
Forum: Personal Investments
Topic: Portfolio Review and Five-Year Plan
Replies: 9
Views: 734

Re: Portfolio Review and Five-Year Plan

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...
by ChicagoC
Sun Jul 05, 2020 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Hopeless Civil Engineer
Replies: 155
Views: 14719

Re: Hopeless Civil Engineer

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.
by ChicagoC
Sun Jun 28, 2020 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Hopeless Civil Engineer
Replies: 155
Views: 14719

Re: Hopeless Civil Engineer

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...
by ChicagoC
Wed Jun 10, 2020 5:10 am
Forum: Personal Investments
Topic: Different AA for Megaback Door
Replies: 1
Views: 178

Different AA for Megaback Door

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...
by ChicagoC
Sun May 31, 2020 12:37 pm
Forum: Personal Investments
Topic: 529 Savings ....pros and cons
Replies: 3
Views: 433

Re: 529 Savings ....pros and cons

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 ...
by ChicagoC
Sat Mar 07, 2020 5:42 pm
Forum: Personal Consumer Issues
Topic: Spring break Florida/Universal Studios & COVID 19
Replies: 29
Views: 2699

Re: Spring break Florida/Universal Studios & COVID 19

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...
by ChicagoC
Mon Jan 13, 2020 6:25 am
Forum: Personal Investments
Topic: Early retirement without taxable assets?
Replies: 14
Views: 2114

Re: Early retirement without taxable assets?

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.
by ChicagoC
Sun Jan 05, 2020 2:22 pm
Forum: Personal Investments
Topic: Fidelity Planning Tool
Replies: 6
Views: 1025

Re: Fidelity Planning Tool

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...
by ChicagoC
Sun Dec 29, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Home selling advice: Agent vs. FSBO vs. redfin
Replies: 94
Views: 4907

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

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 ...
by ChicagoC
Sat Dec 28, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Inheriting business with possible EPA issues
Replies: 13
Views: 973

Re: Inheriting business with possible EPA issues

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,
by ChicagoC
Fri Dec 20, 2019 5:49 am
Forum: Personal Investments
Topic: How much in 529 is enough to fund college?
Replies: 114
Views: 11167

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

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...
by ChicagoC
Wed Dec 11, 2019 5:25 am
Forum: Personal Investments
Topic: Individual Stocks
Replies: 19
Views: 1350

Re: Individual Stocks

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...
by ChicagoC
Tue Dec 10, 2019 8:43 pm
Forum: Personal Investments
Topic: Individual Stocks
Replies: 19
Views: 1350

Individual Stocks

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...
by ChicagoC
Sun Dec 01, 2019 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Funding a new car purchase
Replies: 11
Views: 1465

Re: Funding a new car purchase

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...
by ChicagoC
Sat Nov 30, 2019 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Funding a new car purchase
Replies: 11
Views: 1465

Re: Funding a new car purchase

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.
by ChicagoC
Sat Nov 30, 2019 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Funding a new car purchase
Replies: 11
Views: 1465

Funding a new car purchase

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...
by ChicagoC
Tue Oct 15, 2019 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Should I sign authorization to settle lawsuit prior to mediation/trial
Replies: 21
Views: 2863

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

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...
by ChicagoC
Wed Sep 18, 2019 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads in Oil and Gas?
Replies: 38
Views: 3583

Re: Bogleheads in Oil and Gas?

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...
by ChicagoC
Thu Sep 05, 2019 5:44 am
Forum: Investing - Theory, News & General
Topic: Conceptual Q - Bonds vs Bond Funds
Replies: 19
Views: 1125

Re: Conceptual Q - Bonds vs Bond Funds

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...
by ChicagoC
Wed Sep 04, 2019 5:31 pm
Forum: Investing - Theory, News & General
Topic: Conceptual Q - Bonds vs Bond Funds
Replies: 19
Views: 1125

Re: Conceptual Q - Bonds vs Bond Funds

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
by ChicagoC
Wed Sep 04, 2019 5:27 pm
Forum: Investing - Theory, News & General
Topic: Conceptual Q - Bonds vs Bond Funds
Replies: 19
Views: 1125

Re: Conceptual Q - Bonds vs Bond Funds

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.
by ChicagoC
Wed Sep 04, 2019 9:47 am
Forum: Investing - Theory, News & General
Topic: Conceptual Q - Bonds vs Bond Funds
Replies: 19
Views: 1125

Conceptual Q - Bonds vs Bond Funds

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 ...
by ChicagoC
Sat Aug 03, 2019 5:14 am
Forum: Personal Investments
Topic: Portfolio Review
Replies: 6
Views: 1190

Re: Portfolio Review

Thansk for the feedback, answers provided in edit to original posts.
by ChicagoC
Fri Aug 02, 2019 6:02 pm
Forum: Personal Investments
Topic: Portfolio Review
Replies: 6
Views: 1190

Re: Portfolio Review

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.
by ChicagoC
Fri Aug 02, 2019 3:51 pm
Forum: Personal Investments
Topic: Portfolio Review
Replies: 6
Views: 1190

Portfolio Review

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...
by ChicagoC
Wed Jul 31, 2019 9:13 pm
Forum: Personal Investments
Topic: AA Adjustment Timing
Replies: 11
Views: 820

Re: AA Adjustment Timing

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...
by ChicagoC
Wed Jul 31, 2019 5:46 am
Forum: Personal Investments
Topic: AA Adjustment Timing
Replies: 11
Views: 820

AA Adjustment Timing

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...
by ChicagoC
Sun Jul 28, 2019 7:40 pm
Forum: Personal Investments
Topic: Surplus $$ Investing
Replies: 6
Views: 1021

Re: Surplus $$ Investing

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...
by ChicagoC
Sun Jul 28, 2019 1:06 pm
Forum: Personal Investments
Topic: Surplus $$ Investing
Replies: 6
Views: 1021

Surplus $$ Investing

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 ...