Search found 12 matches

by jason54321
Fri Nov 20, 2020 12:20 pm
Forum: Personal Investments
Topic: Input needed-Should I open a taxable account?
Replies: 10
Views: 882

Re: Input needed-Should I open a taxable account?

I appreciate all of the responses.

Yes, it was a typo :oops: . Corrected to 401(k).

Unfortunately, a mega backdoor roth is not an option for us.

The pensions are in addition to social security.

Based on the feedback, it sounds like a taxable at 80/20 or 100% VTSAX would be a good approach?
by jason54321
Fri Nov 20, 2020 11:50 am
Forum: Personal Investments
Topic: Input needed-Should I open a taxable account?
Replies: 10
Views: 882

Input needed-Should I open a taxable account?

Happy holidays! My wife and I are going to be the recipients of a 6 figure windfall and are curious if it would be best to establish a taxable account to invest it in. We have never had a taxable account, so I am looking for guidance. We do not need to use this money right now as our current income ...
by jason54321
Sat Aug 15, 2020 5:18 pm
Forum: Personal Investments
Topic: Maximize contributions to 403(b) with high fees or consider taxable?
Replies: 3
Views: 179

Re: Maximize contributions to 403(b) with high fees or consider taxable?

Thank you for the link to the article FiveK. It was very helpful. I also appreciate your feedback livesoft. Although the fees are higher that we prefer, maintaining the ability to rollover into another lower cost plan if her current employer offers a better option in the future or if she changes job...
by jason54321
Sat Aug 15, 2020 5:05 pm
Forum: Personal Investments
Topic: Maximize contributions to 403(b) with high fees or consider taxable?
Replies: 3
Views: 179

Maximize contributions to 403(b) with high fees or consider taxable?

My spouse's employer provides access to a Horace Mann 403(b) plan that imposes an annual administrative fee of $25 and a 1.25% mortality and fee charge. This is in addition to the expense ratio of .14% for the Vanguard Target 2040 fund that she has chosen. Her employer automatically deposits $600 pe...
by jason54321
Sun Aug 09, 2020 1:09 pm
Forum: Personal Investments
Topic: Guidance needed, sale of inherited homes, cost basis, capital gains tax
Replies: 6
Views: 647

Re: Guidance needed, sale of inherited homes, cost basis, capital gains tax

Thank you for your feedback. I will consult with a tax professional because we did incur costs for the Realtor's commission as well as cost to replace one of the home's roof. Factoring both of these in could reduce our overall tax burden. As I explained above, the sales price should be your basis. ...
by jason54321
Sat Aug 08, 2020 12:33 pm
Forum: Personal Investments
Topic: Guidance needed, sale of inherited homes, cost basis, capital gains tax
Replies: 6
Views: 647

Re: Guidance needed, sale of inherited homes, cost basis, capital gains tax

Thank you for your feedback.

I will consult with a tax professional because we did incur costs for the Realtor's commission as well as cost to replace one of the home's roof.

Factoring both of these in could reduce our overall tax burden.
by jason54321
Sat Aug 08, 2020 11:30 am
Forum: Personal Investments
Topic: Guidance needed, sale of inherited homes, cost basis, capital gains tax
Replies: 6
Views: 647

Guidance needed, sale of inherited homes, cost basis, capital gains tax

I would really appreciate the collective guidance of the Boglehead community. A family member died in October of 2019. In their will, I was left two single family homes that were being used as rental properties. Probate was completed in February of 2020 and the ownership was officially transferred t...
by jason54321
Mon Dec 09, 2019 8:52 pm
Forum: Personal Investments
Topic: Guidance needed. Investing income from inherited rental properties and IRA accounts.
Replies: 11
Views: 555

Re: Guidance needed. Investing income from inherited rental properties and IRA accounts.

$1300/month combined? Those are two cheap houses. Are they in good areas of the town? How much do they sell for? Although they are smaller homes in a midsized rural community, we also agree that the rent is probably lower than what similar homes in the same neighborhoods are going for. We are consi...
by jason54321
Mon Dec 09, 2019 8:46 pm
Forum: Personal Investments
Topic: Guidance needed. Investing income from inherited rental properties and IRA accounts.
Replies: 11
Views: 555

Re: Guidance needed. Investing income from inherited rental properties and IRA accounts.

FelixTheCat wrote: Mon Dec 09, 2019 7:48 pm
I'm a landlord.

I have a property manager and being a landlord is very easy in this scenario.
This is a great idea especially considering that the rental homes are in a different state that we only visit twice a year.

What is the typical fee structure for property managers?
by jason54321
Mon Dec 09, 2019 7:33 pm
Forum: Personal Investments
Topic: Guidance needed. Investing income from inherited rental properties and IRA accounts.
Replies: 11
Views: 555

Re: Guidance needed. Investing income from inherited rental properties and IRA accounts.

J295 wrote: Mon Dec 09, 2019 7:20 pm Do you want to retain the rental properties or sell them? Being a landlord is not for everyone.
Since this will be our first experience as landlords, we are going to retain them for at least one year.
by jason54321
Mon Dec 09, 2019 7:12 pm
Forum: Personal Investments
Topic: Guidance needed. Investing income from inherited rental properties and IRA accounts.
Replies: 11
Views: 555

Re: Guidance needed. Investing income from inherited rental properties and IRA accounts.

Thank you for the reply retired@50. I will pass along your advice to my spouse to contact human resources/administration and advocate for adding lower cost options. If this happens in the future, we can consider fully funding this account. I agree, opening and fully funding a Vanguard Roth IRA for m...
by jason54321
Mon Dec 09, 2019 4:38 pm
Forum: Personal Investments
Topic: Guidance needed. Investing income from inherited rental properties and IRA accounts.
Replies: 11
Views: 555

Guidance needed. Investing income from inherited rental properties and IRA accounts.

Happy holidays fellow Bogleheads. I would like to start off by saying that although this is the first time I have posted, I have been a silent member of the Boglehead community the past two years. The knowledge that I have gained from reading Mr. Bogle's books and the posts on this forum have been i...