Search found 86 matches

by userwithconcern
Sun Sep 27, 2020 6:18 pm
Forum: Investing - Theory, News & General
Topic: Any restrictions on spending retirement accounts after 59.5?
Replies: 10
Views: 1403

Re: Any restrictions on spending retirement accounts after 59.5?

Please ignore any concerns where employers may forbid current employees from taking distributions even after 59.5. This post is only about whether there are any stipulations on what items the money may be spent on, assuming you are allowed to take any out.
by userwithconcern
Sun Sep 27, 2020 6:17 pm
Forum: Investing - Theory, News & General
Topic: Any restrictions on spending retirement accounts after 59.5?
Replies: 10
Views: 1403

Re: Any restrictions on spending retirement accounts after 59.5?

There are definitely now restrictions on how the many is spent any more than there are from other accounts (buying illicit drugs is still illegal, etc). The only restrictions I can think of on withdrawals are any your employer may put in place while working and you must have had a Roth IRA (any Rot...
by userwithconcern
Sun Sep 27, 2020 9:45 am
Forum: Investing - Theory, News & General
Topic: Any restrictions on spending retirement accounts after 59.5?
Replies: 10
Views: 1403

Any restrictions on spending retirement accounts after 59.5?

Similar to how HSA funds can only be used for qualified medical expenses, are there any restrictions on what can be purchased with money obtained from retirement accounts like 401(k) plans, IRAs or Roth IRAs after age 59.5? If so, would I need to keep records to prove that I only spent the money on ...
by userwithconcern
Sat Sep 26, 2020 4:29 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund vs. Brokerage exposure to risk
Replies: 11
Views: 872

Re: Mutual Fund vs. Brokerage exposure to risk

Alex, would it be reasonable to assume that the various fund companies like Schwab listed as holding >5% of various Vanguard mutual funds starting on page B-35 at the link below are omnibus holders: https://personal.vanguard.com/pub/Pdf/sai040.pdf?2210158603 And would it also be reasonable to assum...
by userwithconcern
Sat Sep 26, 2020 3:59 pm
Forum: Investing - Theory, News & General
Topic: Mutual Fund vs. Brokerage exposure to risk
Replies: 11
Views: 872

Re: Mutual Fund vs. Brokerage exposure to risk

I probably wasn't as clear as I could have been. I wasn't referring to the fund itself going bankrupt, rather Vanguard itself. I wasn't sure how/if a brokerage account changed risk for an individual investor as I had read a few posts from people stating details and reasons why a brokerage was more ...
by userwithconcern
Sat Sep 26, 2020 11:18 am
Forum: Forum Issues and Administration
Topic: Private messages in Outbox
Replies: 8
Views: 1735

Re: Private messages in Outbox

Does deleting it from the outbox also make it so that the recipient will never see the message?
by userwithconcern
Sat Sep 26, 2020 11:12 am
Forum: Personal Investments
Topic: What paperwork to retain to prove IRA/401K contributions was within annual legal limits?
Replies: 5
Views: 745

Re: What paperwork to retain to prove IRA/401K contributions was within annual legal limits?

You don't need proof ten years from now, given the statute of limitations. However, you might need the W-2 for other reasons, so it is worth saving forever. I needed my 1997 W-2 to compute my 2011 and 2012 NJ taxes. (In 1997, I contributed to a 403(b), which is not deductible under NJ law. I rolled...
by userwithconcern
Fri Sep 25, 2020 1:37 pm
Forum: Personal Investments
Topic: 403b rollover: Vanguard asking earnings & fees split by employer v employee contribution
Replies: 15
Views: 884

Re: 403b rollover: Vanguard asking earnings & fees split by employer v employee contribution

So is this a problem unique to 403(b) plans, not encountered by participants in 401(k) plans? Or is that just a question of getting lucky with a particular 401(k) plan provider? I am asking since I have both employee and employer contributions in my 401(k) plan.
by userwithconcern
Fri Sep 25, 2020 12:29 pm
Forum: Personal Investments
Topic: 403b rollover: Vanguard asking earnings & fees split by employer v employee contribution
Replies: 15
Views: 884

Re: 403b rollover: Vanguard asking earnings & fees split by employer v employee contribution 😕

Spouse needs to rollover a 403b that is administered by Fidelity, to a new one that is administered by Vanguard. The rollover check reached Vanguard. They are holding up processing the check, asking for a breakdown of earnings and fees by employer vs employee contribution. This doesn't make sense t...
by userwithconcern
Fri Sep 25, 2020 9:17 am
Forum: Personal Investments
Topic: What paperwork to retain to prove IRA/401K contributions was within annual legal limits?
Replies: 5
Views: 745

Re: What paperwork to retain to prove IRA/401K contributions was within annual legal limits?

You don't need proof ten years from now, given the statute of limitations. However, you might need the W-2 for other reasons, so it is worth saving forever. I needed my 1997 W-2 to compute my 2011 and 2012 NJ taxes. (In 1997, I contributed to a 403(b), which is not deductible under NJ law. I rolled...
by userwithconcern
Thu Sep 24, 2020 7:56 pm
Forum: Personal Investments
Topic: What paperwork to retain to prove IRA/401K contributions was within annual legal limits?
Replies: 5
Views: 745

What paperwork to retain to prove IRA/401K contributions was within annual legal limits?

Spirit Rider and other tax experts, what kind of paperwork do I need to retain to prove to the IRS say ten years from now that I did not overcontribute to my 401K or IRA this year? I am guessing form 5498 filed with the IRS tells them that I am not, say, contributing 6K in my name at lots of differe...
by userwithconcern
Thu Sep 24, 2020 7:34 pm
Forum: Personal Investments
Topic: Does Vanguard send out email confirmation for ACATS out?
Replies: 7
Views: 419

Re: Does Vanguard send out email confirmation for ACATS out?

I just did a partial ACATS out of Vanguard two weeks ago and don't remember any email or secure message, the shares were just gone one day with a line item in the activity history tab. They showed up in the destination brokerage a few days before leaving Vanguard so I felt temporarily rich. The who...
by userwithconcern
Thu Sep 24, 2020 7:32 pm
Forum: Personal Investments
Topic: Does Vanguard send out email confirmation for ACATS out?
Replies: 7
Views: 419

Re: Does Vanguard send out email confirmation for ACATS out?

userwithconcern: I transferred assets from Vanguard to Merrill Edge, and I assume ACATS was used (I don't know how to verify that it was). Online, in the Vanguard transaction history, I see an entry showing "Transfer (outgoing)" in the "Transaction type" field, and "Transfer to Another Account" in ...
by userwithconcern
Thu Sep 24, 2020 5:48 pm
Forum: Personal Investments
Topic: Does Vanguard send out email confirmation for ACATS out?
Replies: 7
Views: 419

Re: Does Vanguard send out email confirmation for ACATS out?

Can anyone with experience doing ACATS transfers kindly respond?
by userwithconcern
Thu Sep 24, 2020 10:14 am
Forum: Personal Investments
Topic: Does Vanguard send out email confirmation for ACATS out?
Replies: 7
Views: 419

Re: Does Vanguard send out email confirmation for ACATS out?

At Vanguard, is there a transaction history entry when there is an ACATS out from Vanguard to some other broker? If yes, what does this look like?
by userwithconcern
Thu Sep 24, 2020 10:07 am
Forum: Personal Investments
Topic: Does Vanguard send out email confirmation for ACATS out?
Replies: 7
Views: 419

Does Vanguard send out email confirmation for ACATS out?

I read a Reddit thread from some time ago saying that their assets were ACATSed out of their Robinhood account, without even an email confirmation! https://www.reddit.com/r/personalfinance/comments/avw0op/help_acat_transfer_from_my_robinhood_account_to/ I am concerned that I might similarly lose ass...
by userwithconcern
Sun Sep 20, 2020 12:36 pm
Forum: Personal Investments
Topic: Does Vanguard 2-Factor apply even when you call customer support?
Replies: 2
Views: 262

Does Vanguard 2-Factor apply even when you call customer support?

Just wondering if someone else could call Vanguard to go around the 2FA system if it is enabled online? Can people here that have 2FA enabled at Vanguard state whether calling customer support results in a code being sent to you for verification purposes?
by userwithconcern
Sun Sep 20, 2020 12:34 pm
Forum: Personal Investments
Topic: Are there any limits on transfer fees?
Replies: 9
Views: 615

Re: Are there any limits on transfer fees?

I take the silence to mean there are no limits that people here necessarily know of. So seems like this may be a consideration for people like me that are concerned with potential confiscatory fees.
by userwithconcern
Fri Sep 18, 2020 7:38 am
Forum: Personal Investments
Topic: Are there any limits on transfer fees?
Replies: 9
Views: 615

Are there any limits on transfer fees?

For instance, Etrade charges $75 to transfer an IRA account. Could they come around in a few years if/when I have a large balance and say that they now want say $10,000? Are there any limits on this kind of confiscatory fees? What if they come around and say they'll charge 10% of the account value t...
by userwithconcern
Tue Sep 15, 2020 9:05 pm
Forum: Investing - Theory, News & General
Topic: Can VTSAX accidentally sell all its stock holdings?
Replies: 47
Views: 3920

Can VTSAX accidentally sell all its stock holdings?

Is this possible at all? I have read of various traders making mistakes elsewhere. Was just wondering if it is possible for a fund management trader to accidentally sell all stocks in say the Vanguard Total Stock Market Index fund. How often does this sort of a thing happen? Is this a reason to dive...
by userwithconcern
Tue Sep 15, 2020 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?
Replies: 11
Views: 558

Re: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?

How could your Form 8606 be wrong? What would you have to pay a penalty for? Maybe I'm missing something, but I just don't think either of those things is possible. Tell us about your 8606 and why you did not file it with your taxes? I was initially not planning on contributing to my traditional IR...
by userwithconcern
Tue Sep 15, 2020 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?
Replies: 11
Views: 558

Re: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?

Is a wrong 8606 reason enough to say that the non-deductible contribution was illegal and that the money needs to be taken out? I don't think mine is wrong and I most definitely did not claim any deduction for the 6K I contributed but I don't really have a way to verify that the IRS has the right n...
by userwithconcern
Tue Sep 15, 2020 4:58 pm
Forum: Personal Investments
Topic: Just to be clear - Mega Backdoor Roth
Replies: 11
Views: 2384

Re: Just to be clear - Mega Backdoor Roth

Note: To clarify if you were not aware, when you are >= age 50 you qualify for a catch-up contribution (2019 = $6K), but the catch-up contribution is not included in the annual addition limit (2019 = $56K. The catch-up contribution only applies after you have maximized the employee elective contrib...
by userwithconcern
Tue Sep 15, 2020 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?
Replies: 11
Views: 558

Re: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?

If there was no AGI change, TXI change or tax change what are you expecting to see? Your account transcript should have a TC290 for zero. That means a no change adjustment was made to your account, which is correct. The TC290 code means the paper was received. The 8606 was sent off to storage/files...
by userwithconcern
Mon Sep 14, 2020 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?
Replies: 11
Views: 558

Is it possible to get an IRS Transcript for amended return (Solo Form 8606)?

I mailed in a solo form 8606 with no 1040-X, representing an entirely non-deductible contribution i.e. no impact on taxable income, earlier this year after e-filing my return :( I can see that my return has been amended when I go to check the status of amended return but the IRS tax transcript site ...
by userwithconcern
Wed Sep 09, 2020 9:37 pm
Forum: Personal Investments
Topic: Correcting excess after-tax 401K contribution
Replies: 8
Views: 656

Re: Correcting excess after-tax 401K contribution

I also have this question... Have not run into this yet but would like to understand what the solution may be
by userwithconcern
Wed Sep 09, 2020 9:34 pm
Forum: Personal Investments
Topic: HCE/mega backdoor Roth risk?
Replies: 20
Views: 3058

Re: HCE/mega backdoor Roth risk?

Some reflections: - Drat! More like a mini-me backdoor Roth. - I'll keep doing it anyway, but I'll knock the contribution percentage way down. A small amount added to my Roth is better than nothing. Become an employee after-tax evangelist to your non-HCEs colleges to boost their average contributio...
by userwithconcern
Sat Sep 05, 2020 3:29 pm
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 7871

Re: Do I really own anything if everything can require a Medallion signature which I can never get?

Appreciate all the responses so far. Assuming all my accounts are exclusively in my name and names match up, would doing an ACATS transfer ever need a medallion signature? I saw _one_ post in another thread saying that ACATS doesn't need it. But not sure if that is one off or always the case. If th...
by userwithconcern
Sat Sep 05, 2020 3:16 pm
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 7871

Re: Do I really own anything if everything can require a Medallion signature which I can never get?

Appreciate all the responses so far. Assuming all my accounts are exclusively in my name and names match up, would doing an ACATS transfer ever need a medallion signature? I saw _one_ post in another thread saying that ACATS doesn't need it. But not sure if that is one off or always the case. If thi...
by userwithconcern
Sat Sep 05, 2020 10:14 am
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 7871

Re: Do I really own anything if everything can require a Medallion signature which I can never get?

Have you actually been asked to provide a Medallion signature? I can't figure out why you're sad and so overwrought. Not asked for one yet, but I am new to investing, I have just been reading through the board, caught my eye on the medallion signature topic, dug more and seems everyone is unhappy a...
by userwithconcern
Sat Sep 05, 2020 10:06 am
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 7871

Do I really own anything if everything can require a Medallion signature which I can never get?

Vanguard's website says that you may need a medallion signature even to sell securities :( https://investor.vanguard.com/account-transfer/other-questions You may need a Medallion signature guarantee when: You're transferring or selling securities. You're transferring a joint account to an individual...
by userwithconcern
Thu Sep 03, 2020 8:57 pm
Forum: Investing - Theory, News & General
Topic: What if one day VTSAX owns more than 10% of all US stocks?
Replies: 2
Views: 722

What if one day VTSAX owns more than 10% of all US stocks?

I saw an article posted on this board saying VTSAX had over a trillion dollars in assets, or about 3% of US equity market cap. Got me thinking about the restrictions on RICs in the Revenue Code: https://www.law.cornell.edu/uscode/text/26/851 My reading of that section is that part of the requirement...
by userwithconcern
Wed Sep 02, 2020 4:26 pm
Forum: Investing - Theory, News & General
Topic: Why is there no title insurance for stocks?
Replies: 26
Views: 1856

Re: Why is there no title insurance for stocks?

My question is more along the lines of, what happens if person X who had 10 shares of AAPL died and had a will to give those shares to person Y, but person K accidentally temporarily inherited it (say because he cheated and hid the will) before the will came out and sold it to person M? Had this be...
by userwithconcern
Wed Sep 02, 2020 4:21 pm
Forum: Investing - Theory, News & General
Topic: Why is there no title insurance for stocks?
Replies: 26
Views: 1856

Re: Why is there no title insurance for stocks?

My question is more along the lines of, what happens if person X who had 10 shares of AAPL died and had a will to give those shares to person Y, but person K accidentally temporarily inherited it (say because he cheated and hid the will) before the will came out and sold it to person M? Had this be...
by userwithconcern
Wed Sep 02, 2020 2:15 pm
Forum: Investing - Theory, News & General
Topic: Why is there no title insurance for stocks?
Replies: 26
Views: 1856

Re: Why is there no title insurance for stocks?

Can you more clearly define what the issue is? I know that is kind of tricky, and once done tends to answer your question. However, let us assume you have a statement saying that you own 100 shares of X but the broker does not these shares in the vault. This is fairly common. Thousands of customers...
by userwithconcern
Tue Sep 01, 2020 2:54 pm
Forum: Investing - Theory, News & General
Topic: Why is there no title insurance for stocks?
Replies: 26
Views: 1856

Re: Why is there no title insurance for stocks?

Go look up SIPC..... this is the brokers responsibility.... and if they fail, the govt provides backup insurance. I do not know whether the SIPC covers title defects or not, but either way, it only has a $3.5B fund and a $2.5B line of credit with the government (https://www.sipc.org/about-sipc/the-...
by userwithconcern
Tue Sep 01, 2020 2:43 pm
Forum: Investing - Theory, News & General
Topic: Why is there no title insurance for stocks?
Replies: 26
Views: 1856

Re: Why is there no title insurance for stocks?

If you are concerned about this, mutual funds are worse than stocks. No one actually owns any stock. All stock is owned by Cede & Co., and there an electronic entry for matching every share to a broker, and then at the broker there is another electronic entry matching the shares to you. If you own ...
by userwithconcern
Tue Sep 01, 2020 1:42 pm
Forum: Investing - Theory, News & General
Topic: Why is there no title insurance for stocks?
Replies: 26
Views: 1856

Why is there no title insurance for stocks?

Why is there no title insurance available for stocks? Is it not possible that stocks have title defects similar to real estate, for example, because the stocks were received and sold by the wrong heir and the true heir who has title comes along later and claims it? This goes to the legal principle o...
by userwithconcern
Thu Aug 20, 2020 1:39 pm
Forum: Personal Investments
Topic: In-Service Roth 401(k) Rollovers
Replies: 15
Views: 1747

Re: In-Service Roth 401(k) Rollovers

So once you hit 59 1/2, there are no restrictions on rolling over into a Roth IRA, regardless of when it was established, and regardless of employment status? Once you are 59.5 years old there are no restrictions in withdrawing contributions and earnings from a Roth IRA, regardless of when it was e...
by userwithconcern
Thu Aug 20, 2020 1:38 pm
Forum: Personal Investments
Topic: In-Service Roth 401(k) Rollovers
Replies: 15
Views: 1747

Re: In-Service Roth 401(k) Rollovers

So once you hit 59 1/2, there are no restrictions on rolling over into a Roth IRA, regardless of when it was established, and regardless of employment status? Once you are 59.5 years old there are no restrictions in withdrawing contributions and earnings from a Roth IRA, regardless of when it was e...
by userwithconcern
Fri Aug 14, 2020 5:08 pm
Forum: Personal Investments
Topic: Trading Violations Possible With Mutual Funds?
Replies: 7
Views: 528

Trading Violations Possible With Mutual Funds?

Is it possible to encounter trading violations like Freeriding violations, liquidations from unsettled trades violations or late sale violations if only dealing with mutual funds, say Vanguard mutual funds at Vanguard or Fidelity mutual funds at Fidelity? Is it possible with any mutual funds? Just t...
by userwithconcern
Thu Aug 06, 2020 9:24 pm
Forum: Investing - Theory, News & General
Topic: COVID19 Wage Decline Boosts Social Security Payouts For Most Employed Workers
Replies: 6
Views: 1689

Re: COVID19 Wage Decline Boosts Social Security Payouts For Most Employed Workers

https://www.cnbc.com/2020/08/05/some-retirees-social-security-benefits-could-dip-unless-congress-acts.html “This is not just something hitting people who are turning 60,” said Larry Kotlikoff, a Social Security expert and president of Economic Security Planning, a provider of financial planning too...
by userwithconcern
Wed Aug 05, 2020 2:39 pm
Forum: Investing - Theory, News & General
Topic: COVID19 Wage Decline Boosts Social Security Payouts For Most Employed Workers
Replies: 6
Views: 1689

Re: COVID19 Wage Decline Boosts Social Security Payouts For Most Employed Workers

https://www.cnbc.com/2020/08/05/some-retirees-social-security-benefits-could-dip-unless-congress-acts.html “This is not just something hitting people who are turning 60,” said Larry Kotlikoff, a Social Security expert and president of Economic Security Planning, a provider of financial planning tool...
by userwithconcern
Mon Aug 03, 2020 5:39 pm
Forum: Investing - Theory, News & General
Topic: Understanding Immediate Variable Annuities
Replies: 8
Views: 766

Re: Understanding Immediate Variable Annuities

I have seen people refer to TIAA's variable annuity before. Can someone that has gotten that say something about the payout ratio?
by userwithconcern
Mon Aug 03, 2020 11:19 am
Forum: Personal Investments
Topic: Can I hold the same Vanguard fund in a Vanguard IRA and a Vanguard Brokerage Account?
Replies: 1
Views: 319

Can I hold the same Vanguard fund in a Vanguard IRA and a Vanguard Brokerage Account?

Say I have a Vanguard brokerage account I own and a Vanguard IRA I own. Will there be any issues if I hold the same fund (for example VTSAX) in both accounts? Am I able to hold the same fund in different accounts with causing computer accounting troubles for Vanguard? I am guessing not, but I just w...
by userwithconcern
Sun Aug 02, 2020 10:25 pm
Forum: Investing - Theory, News & General
Topic: Understanding Immediate Variable Annuities
Replies: 8
Views: 766

Re: Understanding Immediate Variable Annuities

On a more abstract level, if you are in a demographic where say a tenth of the people of your group die each year, my thinking is that if a lot of people the same age pooled their monies together and held an asset on an "own only until you die basis", no matter what the asset is and what return it h...
by userwithconcern
Sun Aug 02, 2020 10:12 pm
Forum: Investing - Theory, News & General
Topic: Understanding Immediate Variable Annuities
Replies: 8
Views: 766

Understanding Immediate Variable Annuities

The last Bogleheads podcast got me thinking about annuities. I read the Bogleheads Wiki on Variable SPIAs (Single Premium Immediate Annuities): https://www.bogleheads.org/wiki/Immediate_variable_annuity If I understand it correctly, an AIR of say 4% makes it so that if the return of the underlying i...
by userwithconcern
Sat Aug 01, 2020 6:50 pm
Forum: Personal Investments
Topic: Do IRAs at Vanguard display cost basis info?
Replies: 19
Views: 1085

Re: Do IRAs at Vanguard display cost basis info?

They do have a link for cost basis, but I'm not sure it is a number than has any use. So I don't recall ever looking at it and don't know what it contains. If you are actually thinking of "basis" (already taxed money), the answer is definitely "no". Vanguard does not have that information. Can you ...
by userwithconcern
Sat Aug 01, 2020 3:46 pm
Forum: Personal Investments
Topic: Do IRAs at Vanguard display cost basis info?
Replies: 19
Views: 1085

Re: Do IRAs at Vanguard display cost basis info?

Is it on a different page for an IRA versus a taxable brokerage account?
by userwithconcern
Sat Aug 01, 2020 3:23 pm
Forum: Personal Investments
Topic: Do IRAs at Vanguard display cost basis info?
Replies: 19
Views: 1085

Do IRAs at Vanguard display cost basis info?

Is there a place on the Vanguard site where it shows cost basis info for IRAs?

Is this different for IRAs rolled over (ACATS) from a different IRA provider?