Search found 10 matches

by workhardplayhard
Tue Apr 28, 2020 11:45 am
Forum: Personal Finance (Not Investing)
Topic: What’s the lowest you can comfortably live on?
Replies: 26
Views: 1615

Re: What’s the lowest you can comfortably live on?

Here’s mine: $60k/year (Or $5000/mo) — West Coast, HCOL area, 30s, married, young kids, renting a 3000 sqft SFH in nice neighborhood, two old cars — We could probably go as low as ~50k if we needed to, but then we would need to rent a different place, cut out Home entertainment, organic foods, etc ...
by workhardplayhard
Tue Apr 28, 2020 11:28 am
Forum: Personal Finance (Not Investing)
Topic: What’s the lowest you can comfortably live on?
Replies: 26
Views: 1615

Re: What’s the lowest you can comfortably live on?

Here’s mine: $60k/year (Or $5000/mo) — West Coast, HCOL area, 30s, married, young kids, renting a 3000 sqft SFH in nice neighborhood, two old cars — We could probably go as low as ~50k if we needed to, but then we would need to rent a different place, cut out Home entertainment, organic foods, etc ...
by workhardplayhard
Thu Apr 23, 2020 12:49 am
Forum: Personal Investments
Topic: How are the "100% Stocks" people doing?
Replies: 139
Views: 13306

Re: How are the "100% Stocks" people doing?

I’m about 97% stocks outside of EF. Live in a very high cost of living area, so overall that makes it about 60/40 if you count the EF.

Will stay the course and will continue buying more stocks.
by workhardplayhard
Tue Apr 14, 2020 8:44 pm
Forum: Personal Investments
Topic: When *wouldn't* you backdoor to a Roth in these conditions?
Replies: 11
Views: 1130

Re: When *wouldn't* you backdoor to a Roth in these conditions?

Do you mind explaining the statement in your signature that a dollar in taxable is worth more than a dollar in tax-deferred account? I think celia's intent is express the difference in tax liability. The $1 you already paid taxes on is worth more than the $1 you need to pay taxes on. When you withd...
by workhardplayhard
Sun Apr 12, 2020 1:57 pm
Forum: Personal Investments
Topic: Net Investment Income Tax and MAGI
Replies: 12
Views: 1123

Re: Net Investment Income Tax and MAGI

FiveK wrote: Sun Apr 12, 2020 1:32 pm
workhardplayhard wrote: Sun Apr 12, 2020 12:55 pm "...MAGI will be too high to contribute directly to a Roth IRA."

Can someone please clarify if standard deduction plays any role in calculating the MAGI?
It does not. See MAGI for Roth IRA purposes.
Yes, I didn’t think so either. Thank you.
by workhardplayhard
Sun Apr 12, 2020 12:55 pm
Forum: Personal Investments
Topic: Net Investment Income Tax and MAGI
Replies: 12
Views: 1123

Re: Net Investment Income Tax and MAGI

I didn’t read anywhere that standard deduction can be subtracted from AGI to get to MAGI, however in this post yesterday: https://www.physicianonfire.com/backdoor-roth-value/ I read the following: “Mr. Rothschild is 35 years old. He and his wife earn a combined $240,000 a year. It’s a respectable su...
by workhardplayhard
Sun Apr 12, 2020 3:57 am
Forum: Personal Investments
Topic: When *wouldn't* you backdoor to a Roth in these conditions?
Replies: 11
Views: 1130

Re: When *wouldn't* you backdoor to a Roth in these conditions?

@celia,

Do you mind explaining the statement in your signature that a dollar in taxable is worth more than a dollar in tax-deferred account?

Thank you.
by workhardplayhard
Mon Apr 06, 2020 2:19 am
Forum: Personal Investments
Topic: Portfolio Advice - Mid-Term and Long-Term Goals. Best way to achieve both?
Replies: 5
Views: 459

Re: Portfolio Advice - Mid-Term and Long-Term Goals. Best way to achieve both?

Not too many replies, so I gather that there aren’t too many suggestions. But, just in case, I’m bumping the thread up in case someone else wants to chime in with any advice.

Any advice is much appreciated.

Thank you in advance.
by workhardplayhard
Sun Apr 05, 2020 10:48 am
Forum: Personal Investments
Topic: Portfolio Advice - Mid-Term and Long-Term Goals. Best way to achieve both?
Replies: 5
Views: 459

Re: Please Review My Portfolio

Thank you, all, for responding. To answer some of the additional questions: 1. Is the downpayment for the home from your EF? Have you started saving for it yet? What account is it in (MM, CD's?) Yes, the down payment would come from EF, and I would have to dip into taxable portion of the portfolio i...
by workhardplayhard
Sat Apr 04, 2020 10:16 pm
Forum: Personal Investments
Topic: Portfolio Advice - Mid-Term and Long-Term Goals. Best way to achieve both?
Replies: 5
Views: 459

Portfolio Advice - Mid-Term and Long-Term Goals. Best way to achieve both?

Hello, I’ve recently started reading the forum, and I’m hooked. Would like to ask for some wisdom from the posters here. Here are all the details: Emergency funds: 2 years of expenses Debt: Car loan - $5,400 @ 1.9% Tax Filing Status: Married Filing Jointly, 2 dependents. Tax Rate: 24% Federal, 9.3% ...