Search found 348 matches

by simas
Wed May 01, 2019 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice - Getting Laid off
Replies: 34
Views: 4489

Re: Need Advice - Getting Laid off

There are massive layoffs in my Megacorp and I am one of the casualties . I had a baby in January and was planning on taking the Paternity leave they offer to employees in July. The policy states this time can be taken within a year of the child’s birth. There is nothing in the policy that states t...
by simas
Tue Apr 30, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Fed interviewing for a private sec job - value of FERS pension?
Replies: 37
Views: 2279

Re: Fed interviewing for a private sec job - value of FERS pension?

- I'm calling the other 'what if's' a wash - job security, stress, challenges, bordeom, etc. - I appreciate the comments from those that have traversed that path on either side and shared their experiences. just be careful in the above - if you think various opportunities are the same (or even simi...
by simas
Mon Apr 29, 2019 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Fed interviewing for a private sec job - value of FERS pension?
Replies: 37
Views: 2279

Re: Fed interviewing for a private sec job - value of FERS pension?

What matters is what you are being offered at the private sec job (and whether you like the offer otherwise) and what trade offs you are and aren't willing to make. Otherwise, this is either pointless exercise or some form of bragging - do you have something real in your hands (an actual offer) to c...
by simas
Wed Apr 03, 2019 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Would like a review of my premium credit card usage portfolio
Replies: 47
Views: 2430

Re: Would like a review of my premium credit card usage portfolio

But I do care about award point hacking. FlyerTalk and https://www.reddit.com/r/awardtravel/ are speaking a different language than me when it comes to award point redemption. Open jaw hacks, bonus transfers, etc all just boggle my mind. No offence (and it seems like you are enjoying the game) , ho...
by simas
Wed Apr 03, 2019 8:00 am
Forum: Personal Finance (Not Investing)
Topic: What? No Income?
Replies: 62
Views: 7046

Re: What? No Income?

"What's it like for those of you who voluntarily quit a good job (you like the job OK, wouldn't do it for free though) and retire? Did you dwell on the fact that you could have a bunch more money if you'd just keep going a bit more?" Yes, a bit - it is only human. However, eventually you realize tha...
by simas
Sun Mar 17, 2019 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Fraction of insurance companies revenue goes to paying out claims?
Replies: 34
Views: 2376

Re: Fraction of insurance companies revenue goes to paying out claims?

(I don't want to this to derail the thread, but what I'm internally curious about is how much I am overpaying to mitigate the risk that insurance is meant to cover. I'm sure a portion of my premiums go to overhead, profit, regulatory expenses, etc. The question isn't really if I am overpaying, but ...
by simas
Sun Mar 17, 2019 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Fraction of insurance companies revenue goes to paying out claims?
Replies: 34
Views: 2376

Re: Fraction of insurance companies revenue goes to paying out claims?

I put that comment in parenthesis, and with a disclaimer that I did not want it to derail the thread. Let's refrain from (for the time being) discussing that aspect. I hear you. I think this is a major disunderstanding on how insurance works in general. the answer to your question is that it is mea...
by simas
Sun Mar 17, 2019 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Fraction of insurance companies revenue goes to paying out claims?
Replies: 34
Views: 2376

Re: Fraction of insurance companies revenue goes to paying out claims?

(I don't want to this to derail the thread, but what I'm internally curious about is how much I am overpaying to mitigate the risk that insurance is meant to cover. I'm sure a portion of my premiums go to overhead, profit, regulatory expenses, etc. The question isn't really if I am overpaying, but ...
by simas
Wed Mar 13, 2019 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Should I give more money to a family member?
Replies: 107
Views: 6432

Re: Should I give more money to a family member?

yes. I do not understand what was the reason for cheating the older sister? how divide equivally means 42k to one and 14k to another? separately, sending money over each month - what is that about? what does it have to do with will/inheritance? if I were you I would have done the following -thought ...
by simas
Mon Mar 11, 2019 8:24 am
Forum: Personal Investments
Topic: Investing large sum, wait or buy?
Replies: 14
Views: 1374

Re: Investing large sum, wait or buy?

My current strategy is for the 60% to mature in TD over 3, 6, 12 months as a reminder to put those into ETFs when it matures. well.. it depends on how disciplined you are meaning how much you let greed and fear control you. if you can not invest it now 'because whatever', do you really think it wou...
by simas
Sun Mar 10, 2019 3:00 pm
Forum: Personal Investments
Topic: Vanguard error – exceeded RMD without consent – what now?
Replies: 20
Views: 2553

Re: Vanguard error – exceeded RMD without consent – what now?

let us know how it would go - yes, ask for escalation as needed and ask for clear ETA on resolution. I worked in financial services before (not mutual funds) and we had various procedures to deal with this which were indeed depending on what the situation was - i.e. we 'price improved' including pro...
by simas
Sun Mar 10, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Roth solo 401(k) now more attractive given new 199A deduction announcement
Replies: 57
Views: 4455

Re: Roth solo 401(k) now more attractive given new 199A deduction announcement

Man, this ends up complicated. Keep in mind that lowering AGI can still be a goal for some other situations/techniques, and that Roth contributions may mean forgoing a state tax deduction for traditional contributions. For my case, IL deduction is worth 4.95%, so in the 24% federal bracket, the ded...
by simas
Sun Mar 10, 2019 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Car is likely totaled, not at fault. Negotiate?
Replies: 31
Views: 1925

Re: Car is likely totaled, not at fault. Negotiate?

I can chalk it up as just life and move on, it will make little difference in the long run, but the current system seems like it not quite fair to the not at fault driver. Going from having a vehicle I could trust with minimal maintenance for like 10 years to now needing to hastily car shop, get a ...
by simas
Sat Mar 09, 2019 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Need to terminate solo 401(k)?
Replies: 14
Views: 2275

Re: Need to terminate solo 401(k)?

[*] Am I terminating my sole proprietorship? Seems like I am, since I will have no income next year related to the business. No. That is a very strange reasoning above. your sole proprietorship does not appear or terminate, it automatically exists when you take on income. [*] Do I need to terminate...
by simas
Fri Mar 08, 2019 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Framework to evaluate life and lifestyle choices?
Replies: 38
Views: 2658

Re: Framework to evaluate life and lifestyle choices?

Our field (Tech) is very much feast or famine - you are in the feast mode right now and it is good. This will also turn as it always does and the comp will go back down to normal (cash) levels as stocks would stagnate. Save what you can while you are in the feast. As for lifestyle choices, I walked ...
by simas
Fri Mar 08, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 238
Views: 35068

Re: [Financial] Habits of the Rich

SQRT, Within my family and friends, we do not co-sign loans. If help is needed, money will be given. It is a gift. We pooled our money and gave 50K to our niece to fix her house damaged by the hurricane. KlangFool This. we give, and it is a joy to do so The BS about "friends" going to anyone asking...
by simas
Fri Mar 08, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: How the Fed calculates household's Net Worth
Replies: 99
Views: 6115

Re: How the Fed calculates household's Net Worth

checkmate! I am still confused, how is any of this of any use? what is the actual value of this information? someone, somewhere, 'defined' whatya-ma-call-it as blah-blah-blah. And? This is the same level of value (none) as articles about the 'british scientists' declaring giraffes to be actually be...
by simas
Fri Mar 08, 2019 8:05 am
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 30769

Re: [2018 tax return - How does it compare to previous years?]

State - IL

AGI went up, rate went down.

AGI Tax Due Rate
2017 141219 30424 21.54%
2018 202234 37696 18.64%
by simas
Mon Mar 04, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting for new immigrant dad health care
Replies: 22
Views: 1437

Re: Budgeting for new immigrant dad health care

Wait, I thought as part of sponsoring your parents (immediate relatives) you sign the affidavit of support guaranteeing that they will not be 'public charge' for 5 years. This makes your parents ineligible for Federal help (they may still get state assistance by state rules). Did this change with AC...
by simas
Mon Mar 04, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Tell The Truth to Boss Why I'm Leaving? (More Money)
Replies: 78
Views: 8202

Re: Tell The Truth to Boss Why I'm Leaving? (More Money)

OP will work as contract worker for company Z but will not be employee of Z. Instead OP will be W-2 employee of intermediary agent company Y, which has a contract relationship with Z. OP will work at Z´s jobsite. Z will pay Y for OP´s services per the contractual agreement between Y and Z. Y will p...
by simas
Sun Mar 03, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: SIL needs help. Car totaled, still owes $10k. Any way out?
Replies: 70
Views: 5169

Re: SIL needs help. Car totaled, still owes $10k. Any way out?

Yes, not having exact numbers and having a clearly unreliable source (people who are bad with money are very often people w ho are inaccurate when talking financials) makes this a bit of a phantom problem . In most interpretations, though, it is her responsibility and no one else's. Perhaps she is ...
by simas
Sun Mar 03, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: self employed tax question
Replies: 79
Views: 4076

Re: self employed tax question

you are welcome. Think of it this way - taxes and tax filling is a side benefit of having professional relationship with good CPA firm that is specializing on your business niche/profile/company sizes. Yes of cause they will do taxes and it is one of the ways they get paid , however you want signifi...
by simas
Sun Mar 03, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Where to open a solo 401k for side gig?
Replies: 3
Views: 326

Re: Where to open a solo 401k for side gig?

Anywhere would work on small amounts. later on you can decide if you want to roll your own (I use discountsolo401.com and very happy with them). Read up on posts by Spirit rider who breaks it down pretty well on various limitations involved in various side income ranges on what you can/can not contr...
by simas
Sun Mar 03, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Tell The Truth to Boss Why I'm Leaving? (More Money)
Replies: 78
Views: 8202

Re: Tell The Truth to Boss Why I'm Leaving? (More Money)

You don't work with companies, you work with people , be upfront, be direct, be truthful. Always the best strategy. what goes around comes around and if your super wonderful 200k job does not materialize or ends up being a job from hell, who knows , you may want to talk to these people again (or peo...
by simas
Sat Mar 02, 2019 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: self employed tax question
Replies: 79
Views: 4076

Re: self employed tax question

Another strong voice for at least consider not being penny wise... Of cause this is your life and you do what you like, also there is nothing magical in what good specialist (CPA, attorney, surgeon, car mechanic) does , and yes, in theory you can do some/all of it yourself. However, if you need sur...
by simas
Sat Mar 02, 2019 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: self employed tax question
Replies: 79
Views: 4076

Re: self employed tax question

anyway 1 last question- i just want to confirm that i should be doing this right? https://blog.foxwealthmgmt.com/2019/02/16/backdoor-solo-401k-plans/ 1.Open a SEP IRA account in the current year for the prior year. You have until the due date of your income tax return, including extensions (October...
by simas
Fri Mar 01, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: self employed tax question
Replies: 79
Views: 4076

Re: self employed tax question

Another strong voice for at least consider not being penny wise... Of cause this is your life and you do what you like, also there is nothing magical in what good specialist (CPA, attorney, surgeon, car mechanic) does , and yes, in theory you can do some/all of it yourself. However, if you need surg...
by simas
Fri Mar 01, 2019 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth -- A Unicorn?
Replies: 45
Views: 2652

Re: Mega Backdoor Roth -- A Unicorn?

I have side consulting business and use https://discountsolo401k.com/ , this is my third year with the plan. There are initial setup costs and annual compliance/maintenance fee (<200), full options (traditional, roth, non-roth aftertax, checkbook access ,etc). Fidelity is holding the (sub)-accounts ...
by simas
Sun Feb 24, 2019 8:52 am
Forum: Personal Finance (Not Investing)
Topic: 4% SWR - how confident are you?
Replies: 117
Views: 8111

Re: 4% SWR - how confident are you?

very. next question? and I am an immigrant from country that no longer exists, living through civil war, utter destruction of economy and many things people in US can not imagine. best advice is live you life rather than feeding inner demons of fear seeing assurances of 'certainty' when the only rea...
by simas
Sun Feb 24, 2019 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Q on potential raise
Replies: 1
Views: 249

Re: Q on potential raise

You can attempt to negotiate anything (as long as it is not illegal). As for below, there is no way to give you any answers as we do not know the legal structure of the company you are working for, its procedures, the type of arrangement you have (are you an employee, contractor, etc.) and many othe...
by simas
Sat Feb 16, 2019 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Do you tell your beneficiaries?
Replies: 69
Views: 4372

Re: Do you tell your beneficiaries?

We can agree to disagree, but I don't see any real adv. ahead of time and some real disadv. I've seen personally show up in real life. To each their own though. Good luck. yes on the above - if you are involving your family (or those close to you) in some important decision, why not tell them? if y...
by simas
Sat Feb 16, 2019 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block tax preparation software and Form 1116
Replies: 15
Views: 972

Re: H&R Block tax preparation software and Form 1116

Another user of H&R Block (2018 Premium ), the process for 1116 is no different vs Deluxe. Similarly I was confused by IRS instructions until printing them out and crossing anything that did not apply to me. Once 'cleaned up', it ended up being very simple - single country (RIC - Registered Investme...
by simas
Sat Feb 16, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: first freelance gig, do I need an LLC?
Replies: 21
Views: 1365

Re: first freelance gig, do I need an LLC?

Thank you for your thoughts simas, I understand your perspective. I am just not there yet. I'm not really looking to ramp my career back up now. The kids are both in part-time preschool so I do have a few hours each morning (although gym and household projects are also priorities, and I am taking o...
by simas
Wed Feb 13, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: first freelance gig, do I need an LLC?
Replies: 21
Views: 1365

Re: first freelance gig, do I need an LLC?

I would love to work enough to get eligibility for a solo 401K and to earn enough work credits to stay eligible for SSDI since I can't get private disability insurance. So 5-10K/year would be wonderful (and allow us to benefit from child care FSA) but I am not sure there will be that much demand fo...
by simas
Wed Feb 13, 2019 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: first freelance gig, do I need an LLC?
Replies: 21
Views: 1365

Re: first freelance gig, do I need an LLC?

The work would ideally be data analysis for social science research (cleaning/processing data sets, running statistics, creating tables and maps) and would make use of statistical software, python programming, and/or GIS software. get the work first , and get real amount of it so any worries about ...
by simas
Wed Feb 13, 2019 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Small business partial ownership
Replies: 22
Views: 830

Re: Small business partial ownership

I'm a complete novice at the small business side of things, so my question for you is, what should I be weighing in my mind? How should I go about deciding if this is worth it? I re-read your post , saw the note on no revenue, so that answers a lot of questions. Basically, whoever it is offers you ...
by simas
Sun Feb 10, 2019 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Employer paid moving expenses, tax deductible?
Replies: 33
Views: 1241

Re: Employer paid moving expenses, tax deductible?

yes, very much first world problem - each of those moving transactions entered voluntarily, under assumption of significant benefit to employee (continued employment being the most, career prospects, immediate/delayed comp adjustments, etc. ). person always has a choice of doing it or not going it, ...
by simas
Sun Feb 10, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Proper Tax Submission for Self-Employed - Tax Year 2018
Replies: 2
Views: 179

Re: Proper Tax Submission for Self-Employed - Tax Year 2018

your business is using some form of accounting which is either cash basis or accrual based (i.e. https://bench.co/blog/accounting/cash-v ... ccounting/ for some of the details), which one are you using?
by simas
Sun Feb 10, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Best uses of Chase Ultimate Rewards Points
Replies: 18
Views: 2352

Re: Best uses of Chase Ultimate Rewards Points

wondering what the best uses for those are. I'm looking to get good value kind of curious why you signed up for this program vs any of its alternatives (Citi Thank you points, Amex Member reward points, etc) if you are wondering what best uses are ? the 'value' is completely in the eye of the behol...
by simas
Sat Feb 09, 2019 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning Nightmare [Problem with estate planning attorney]
Replies: 32
Views: 3469

Re: Estate Planning Nightmare [Problem with estate planning attorney]

not all that complicated I do not have estate planning comments (really need to get on the ball and get that rolling for us as we are both in 40s now with children and 7 digit portfolios).. However the 'not all that complicated' thing made me laugh as I do consulting and when I usually hear this it...
by simas
Fri Feb 08, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 107
Views: 10970

Re: Need Help - DW Laid Off and Company wants her back now

I used to work in the comp and benefits area. My view is she should try to keep the four months severance and, in connection with her reemployment, now that she knows terminations are on the table, receive an enforceable written undertaking that if she is terminated for any reason other than cause ...
by simas
Thu Feb 07, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 107
Views: 10970

Re: Need Help - DW Laid Off and Company wants her back now

What is really surprising to me is to hear is the description of the initial 'call' - and I wonder whether she received anything in writing and whether there were witnesses. I have done layoffs, have been laid off, I never seen it without a) witness present (even on the call) b) in writing communica...
by simas
Thu Feb 07, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: How The New QBI Deduction-Reduction Ruins The Value Of Pre-Tax Retirement Plans For Small Business Owners
Replies: 57
Views: 4393

Re: How The New QBI Deduction-Reduction Ruins The Value Of Pre-Tax Retirement Plans For Small Business Owners

"ruins" - really? interesting article, bad choice of words in attempt to attract attention. small business owners (myself included as sole proprietor) have choices and QBI is a tool as any other. tools come , tools go, as congress writes tax rules - nothing new here. the article itself is well detai...
by simas
Tue Feb 05, 2019 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Family finance benchmarking/feedback
Replies: 25
Views: 2070

Re: Family finance benchmarking/feedback

public schools in Chicago are generally not very good ... understatement of the year- the public schools in Chicago are very , very bad with only few exceptions that you have to play lottery to get into. and even that is much worse that mid-range suburbs of Chicago offer. once you move to wealthier...
by simas
Sun Feb 03, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Credit - H&R Block
Replies: 0
Views: 342

Foreign Tax Credit - H&R Block

Vanguard Mutual Funds foreign 'income' only Two 1099-DIV Developed Markets Foreign Tax 507, Foreign Income 7505, QADI Eligible foreign income 6094 Emerging Markets Foreign Tax 510 Foreign Income 4991 QDI Eligible foreign income 2461 No matter what I try to do in the H&R Block wizard for form 1116, a...
by simas
Sun Jan 27, 2019 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard PAS vs. Schwab Intelligent Advisory service..
Replies: 13
Views: 1491

Re: Vanguard PAS vs. Schwab Intelligent Advisory service..

I think you are comparing apples to oranges, focusing on things that are irrelevant and instead missing things that may be real... These are completely different business offerings and different value offerings, advisor services (with asset allocation if you want it) vs robo advisor. Nothing wrong w...
by simas
Thu Jan 24, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating DayCare Fees
Replies: 70
Views: 3705

Re: Negotiating DayCare Fees

sure, seem genuine enough - don't forget to finish with some sort of action, what happens next , you will call them by end of the week to hear their decision, you want them to call you , etc. remember the shorter you make the note, the more likely it gets read at all. then, you get Y/N and can move ...
by simas
Thu Jan 24, 2019 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating DayCare Fees
Replies: 70
Views: 3705

Re: Negotiating DayCare Fees

you can ask for anything you want. it does not hurt being nice either, without being too manipulative freak - that could easily have an opposite effect. whether they accept would depend heavily on supply and demand , and policies they have. in our area (Chicago), anything good has a waiting list to ...
by simas
Wed Jan 23, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: After-tax 401(k) to Roth IRA conversion - confused about tax treatment
Replies: 29
Views: 1663

Re: After-tax 401(k) to Roth IRA conversion - confused about tax treatment

This goes back to the fact that almost all larger 401k plans are one pooled account for the entire plan. It is much easier for the plan administrator to first separately account for each participant and apply investment choices at that level. Only then account by contribution type, etc... While you...
by simas
Tue Jan 15, 2019 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: A co-worker makes more than me
Replies: 77
Views: 6764

Re: A co-worker makes more than me

I have co-workers that make quite a bit more than me for doing less work. I have others that have a hard time staying afloat and working 60-70 hours a week. There's a million reasons why that's the case. It's ultimately none of my business and I don't seek to redress the inequity during my periodic...