Search found 4278 matches

by tashnewbie
Wed Mar 27, 2024 3:49 pm
Forum: Personal Consumer Issues
Topic: Smartphone insurance with prepaid phone plan
Replies: 10
Views: 496

Re: Smartphone insurance with prepaid phone plan

That article states you would need a device summary page from the carrier to show that the device is linked to the account. That is not necessarily the same thing as the device appearing on the statement. The article is consistent with WF's terms: https://www.wellsfargo.com/credit-cards/active-cash/guide-to-benefits/#cell If you look for the word "prepaid" in the article I link, you'll see that it states phones on prepaid plans are not covered. That doesn't mean it's correct, Wells Fargo and Card Benefit Services are the final arbiters. Does Visible have a device summary page ? US Mobile does not, unfortunately. Thus I'm certain that coverage doesn't apply with US Mobile. The Nerd Wallet article states coverage won't apply if the...
by tashnewbie
Wed Mar 27, 2024 3:16 pm
Forum: Personal Consumer Issues
Topic: Favorite protein powder for shakes at home?
Replies: 75
Views: 3206

Re: Favorite protein powder for shakes at home?

forgeblast wrote: Wed Mar 27, 2024 8:23 am
lessismore22 wrote: Tue Mar 26, 2024 3:12 pm Any recommendations for protein powder that has good taste? What's the BH preference for value and quality?
steel protein, their plant based peanut butter cookie or cookies and cream is wonderful. best i have ever had.
Never heard of this one but it looks interesting. A little expensive compared to other good options. Do you know if they ever run sales?
by tashnewbie
Wed Mar 27, 2024 3:13 pm
Forum: Personal Consumer Issues
Topic: Smartphone insurance with prepaid phone plan
Replies: 10
Views: 496

Re: Smartphone insurance with prepaid phone plan

I've been paying my Visible mobile bill with the WF Active Cash card, thinking I qualified for the cell phone protection benefit. I will have to re-read the terms and conditions of that benefit to see if it requires the cell phone be listed on the bill. It doesn't look like the phone is on Visible's bill. As far as I know, none of the prepaid carriers list the devices on the bill. Your phones are not covered. Here is what to expect with Wells Fargo : https://www.nerdwallet.com/article/credit-cards/what-to-expect-from-wells-fargos-cell-phone-insurance-perk That article states you would need a device summary page from the carrier to show that the device is linked to the account. That is not necessarily the same thing as the device appearing ...
by tashnewbie
Wed Mar 27, 2024 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: decsion on new job offer
Replies: 12
Views: 1096

Re: decsion on new job offer

I agree that health insurance is probably the biggest potential differentiator.

I personally would be looking for a new job regardless of how I felt about the likelihood of a contract renewal, because you said it sounds like a dead end position with no growth potential. At my age (39), I wouldn't want to be in that position and would want to be in a space that had growth potential. I would take the W2 job and if you feel it doesn't meet your financial needs, then you can always keep looking for something else.
by tashnewbie
Wed Mar 27, 2024 12:16 pm
Forum: Personal Consumer Issues
Topic: Smartphone insurance with prepaid phone plan
Replies: 10
Views: 496

Re: Smartphone insurance with prepaid phone plan

I've been paying my Visible mobile bill with the WF Active Cash card, thinking I qualified for the cell phone protection benefit. I will have to re-read the terms and conditions of that benefit to see if it requires the cell phone be listed on the bill. It doesn't look like the phone is on Visible's bill.
by tashnewbie
Wed Mar 27, 2024 10:50 am
Forum: Personal Finance (Not Investing)
Topic: 401k Roth vs. Pre-Tax...again
Replies: 6
Views: 381

Re: 401k Roth vs. Pre-Tax...again

Unless you'll have sizeable pensions, I would keep doing 100% traditional 401k contributions.

I assume your 7-figure portfolio is not all in tax-deferred accounts.
by tashnewbie
Wed Mar 27, 2024 10:29 am
Forum: Personal Consumer Issues
Topic: Favorite protein powder for shakes at home?
Replies: 75
Views: 3206

Re: Favorite protein powder for shakes at home?

muffins14 wrote: Wed Mar 27, 2024 6:58 am
YeahBuddy wrote: Wed Mar 27, 2024 5:18 am Optimum Nutrition whey protein - Extreme Milk Chocolate
I hope others appreciate your username and signature with this post.

Ain’t nothin but a peanut
I just saw the signature. When I saw their username on another post today, I thought about Mr. Coleman lol
by tashnewbie
Wed Mar 27, 2024 10:28 am
Forum: Personal Consumer Issues
Topic: Favorite protein powder for shakes at home?
Replies: 75
Views: 3206

Re: Favorite protein powder for shakes at home?

OP - everyone's tastes are different and it will probably take some trial and error to find what you like.

For that reason, I recommend finding brands that sell sample sizes. Or buying something that's on sale. MyProtein has a 50% off sale going right now (I think code "MaxE" will get you like 40% extra off - not my code, but it is the code of someone I follow on YouTube).
by tashnewbie
Wed Mar 27, 2024 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Any advice on how to manaage cashflow when % of income is variable?
Replies: 37
Views: 1676

Re: Any advice on how to manaage cashflow when % of income is variable?

pejp1 wrote: Wed Mar 27, 2024 8:46 am I hate to be 'that guy', but the more I'm thinking about this and the more I'm looking through our spending habits, it's really not being driven by me. I just looked...I've spent $150 of my last $7k pay check. I think a huge amount here is implulse purchases from Amazon and other online places.
Would some of that be solved by your wife having a job outside the home? If she's busy working, maybe she wouldn't have time to impulse shop. Otherwise, she needs to have a budget. Regardless of how much you make, if you have a tendency to spend everything you have, you need to set guardrails.
by tashnewbie
Wed Mar 27, 2024 8:47 am
Forum: Personal Investments
Topic: First Taxable Account Investment - VTI or VTSAX?
Replies: 8
Views: 531

Re: First Taxable Account Investment - VTI or VTSAX?

I would go with VTSAX. If you decide later you want to use ETFs, you can always get Vanguard to convert it to VTI. The opposite is not true.

If you were using another brokerage, I would say VTI.
by tashnewbie
Wed Mar 27, 2024 8:45 am
Forum: Personal Investments
Topic: TIAA 457b vs. Brokerage
Replies: 17
Views: 819

Re: TIAA 457b vs. Brokerage

retiredjg wrote: Tue Mar 26, 2024 6:03 pm If you feel your estimate is reliable, I'd switch the TSP to Roth and stop using the 457 at all...at least to the point that you stay in the current 22% bracket. And re-evaluate every few years.
Would it be better for them to use Roth 457 instead of taxable? The tax drag would probably be at least 0.3% (15% LTCG and 2% estimated qualified dividends) which combined with the expense ratio comes close to the cost of the 457. I'm just trying to learn, not disagreeing with your advice.
by tashnewbie
Wed Mar 27, 2024 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Any advice on how to manaage cashflow when % of income is variable?
Replies: 37
Views: 1676

Re: Any advice on how to manaage cashflow when % of income is variable?

We live in a VHCOL area. Our mortgage is $5k a month, car is $600 per month, groceries are $2k a month, our kids are in a private pre-school until next year (there is no public pre-school option) which costs $25k a year. We contribute $300 a month to 529, and we fully fund HSA and 401k. My wife is SAHM. Obviously we're not 'pay check to pay check', but we're at the point where our actual basic living expense including 401k, 529, HSA etc are probably in the $320k range. You itemized about $12k of monthly expenses (counting 529, HSA, and 401k). That's $144k/year. Rough estimate of $90k of taxes off base salary. Where is the other $66k going? I would drill down into your expenses to see where your money is going. Seems like you should be able...
by tashnewbie
Wed Mar 27, 2024 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase with Undetermined Timeline
Replies: 21
Views: 1150

Re: Home Purchase with Undetermined Timeline

Thanks for the reply. The cash is earning good interest in treasury bills so we’re all good there. I agree with your recommendation that maybe $350k or lower is a better price point at the moment but I don’t like those options and feel better about renting for what $350k gets me when buying. So then my question is, if I can’t afford the house I want right now and it might take 3, 5, or more years to get what I want, should I just go back to investing and let the market decide when I get a house I like? I agree with KlangFool who said that you can rent a nicer place. Sounds like you're already planning to move to a new rental. You can rent a SFH. If I didn't know when I might buy a house and it could be 5+ years, then I wouldn't treat the m...
by tashnewbie
Wed Mar 27, 2024 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase with Undetermined Timeline
Replies: 21
Views: 1150

Re: Home Purchase with Undetermined Timeline

fulltilt wrote: Tue Mar 26, 2024 9:46 pm If the issue is that you want to spend no more than 25% of your net pay on a house so you won’t feel stressed about money, then be very careful. It’s a trap.
Can you explain more about that thought process being a trap?
by tashnewbie
Tue Mar 26, 2024 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards do you have
Replies: 89
Views: 4033

Re: How many credit cards do you have

5

2 are used weekly (1 for grocery spend and the other for everything else)

1 I keep because it's my oldest card
by tashnewbie
Tue Mar 26, 2024 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Any advice on how to manaage cashflow when % of income is variable?
Replies: 37
Views: 1676

Re: Any advice on how to manaage cashflow when % of income is variable?

We live in a VHCOL area. Our mortgage is $5k a month, car is $600 per month, groceries are $2k a month, our kids are in a private pre-school until next year (there is no public pre-school option) which costs $25k a year. We contribute $300 a month to 529, and we fully fund HSA and 401k. My wife is SAHM. Obviously we're not 'pay check to pay check', but we're at the point where our actual basic living expense including 401k, 529, HSA etc are probably in the $320k range. You itemized about $12k of monthly expenses (counting 529, HSA, and 401k). That's $144k/year. Rough estimate of $90k of taxes off base salary. Where is the other $66k going? I would drill down into your expenses to see where your money is going. Seems like you should be able...
by tashnewbie
Tue Mar 26, 2024 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase with Undetermined Timeline
Replies: 21
Views: 1150

Re: Home Purchase with Undetermined Timeline

I'm also house hunting and want to keep purchase price <2x gross income. Depending on your local property tax and insurance costs, seems like a $350k house with 20% down ($280k mortgage) would cost about $2600 per month. Obviously there can be variability, because a lot of expensive maintenance could be required at a given time. I would want some cash reserves or other taxable assets beyond the down payment. I would not be comfortable buying a $350k house on $145k of income, but I am single so feel like I need to be more risk averse in this regard. If both of you are employed and have relatively stable jobs, I don't think a house that is 2.4x income is unreasonable and is probably less than the average person spends to buy a house. If I wer...
by tashnewbie
Tue Mar 26, 2024 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Another, buy house thread but this time with parents
Replies: 18
Views: 1467

Re: Another, buy house thread but this time with parents

3) Is intermingling the house asset with my parents a problem and will we be able to afford it when they pass away? Is the plan to pay cash or will there be some mortgage? I would think through why you want to purchase the house with your parents. You didn't really mention the motivation for this arrangement, and you don't have to share it. Is it because your parents are getting up there in years and don't want to live alone or purchase something that they may only live in for a decade? Etc. Would your partner be contributing anything to the purchase? Didn't sound like it from what you wrote. How would you title the property? Joint tenants? With right of survivorship in you alone (do you have siblings?)? What would you do when/if your pare...
by tashnewbie
Tue Mar 26, 2024 12:31 pm
Forum: Personal Investments
Topic: How am I doing?
Replies: 25
Views: 2453

Re: How am I doing?

You're doing well. All you can do is keep staying the course. Some people might describe your current stage as the boring middle. Just keep adding money and then your portfolio will have a life of its own and the annual growth will exceed your contributions. Your portfolio will be where it will be over time. The market will do what it does. You can control your outcome to some extent by adjusting your asset allocation (percentage of stocks and bonds/fixed income). Definitely continue to live your life and do the things you enjoy such as travel. What national park(s) did you go to last year? I was planning to go to Denali this year but have decided to delay the Alaska trip. One thing that stood out to me is that you don't have a 401k/403b/45...
by tashnewbie
Tue Mar 26, 2024 12:18 pm
Forum: Personal Investments
Topic: Advice for 29 year old daughter
Replies: 32
Views: 2805

Re: Advice for 29 year old daughter

Thanks Tashnewbie and Retired@50. Defenitely understand that she may want to transition to non-roth in the the future. I'm still thinking that it makes sense to do a Roth IRA instead of a Roth 401K to allow a broader selection of investments. Does this make any sense? And any thoughts on VTSAX? Thanks Why not do both? At her income level, I would max the Roth IRA and add money to the 401k. She's living at home with you so presumably her expenses are low, so I would think she is able to save more than the IRA limit ($7k) per year. If she does traditional 401k contributions, her paychecks will be larger so that should make it easier for her to save more. She should definitely make at least a $1 contribution to the Roth IRA to get the first 5...
by tashnewbie
Tue Mar 26, 2024 10:39 am
Forum: Personal Investments
Topic: Looking for a new savings/investment vehicle.
Replies: 15
Views: 885

Re: Looking for a new savings/investment vehicle.

Definitely check out the links posted by @retiredjg.

If you're not eligible for or don't desire to use an HSA, then tax-efficient taxable investing is probably the next step, assuming you don't have high interest debt.

See this for ideas: https://www.bogleheads.org/wiki/Tax-eff ... _placement
by tashnewbie
Tue Mar 26, 2024 10:38 am
Forum: Personal Investments
Topic: Advice for 29 year old daughter
Replies: 32
Views: 2805

Re: Advice for 29 year old daughter

She should review this for ideas about how to prioritize different investment accounts and debt paydown: https://www.bogleheads.org/wiki/Priorit ... nvestments

She should also review the traditional vs. Roth wiki posted by user above to see if she should shift to traditional 401k contributions.

She's in the 22% fed marginal tax bracket plus whatever state tax she pays.
by tashnewbie
Tue Mar 26, 2024 10:12 am
Forum: Personal Consumer Issues
Topic: Car Totaled - Insurance Options
Replies: 22
Views: 1452

Re: Car Totaled - Insurance Options

Life Is Good wrote: Mon Mar 25, 2024 9:29 pm Thanks for the responses so far. I suppose there is another option:

4) Take the $2250, keep the car, don't repair it and buy a new (used) car.

I'd have a car that could be used solely as an airport car, leaving it in that lot, while at the same time, when I'm home, or when my son is driving, we have something more reliable and safer. Insurance would be minimal on the extra car since it would only have liability.
This is probably what I would do. I would definitely get collision on the new vehicle. It wasn't clear if you meant the new car or the old car when you said "extra car."

Someone else mentioned possibility of selling the vehicle to your mechanic. That's a creative possibility.
by tashnewbie
Tue Mar 26, 2024 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Underlying Auto Policy amount w/ a 1M umbrella?
Replies: 17
Views: 1266

Re: Underlying Auto Policy amount w/ a 1M umbrella?

What did your agent suggest? I've received quotes from two independent brokers and a quote from a local State Farm office. All costs are annual Auto | Home | Umbrella | Total Acuity: $668.00 | $1,558.00 | $140.00 | $2,366.00 Progressive: $395.00 | $1,247.00 | $392.00 | $2,034.00 State Farm: $449.46 | $1,459.43 | $129.00 | $2,037.89 Auto Owners: $541.34 | $1,698.27 | $208.00 | $2,447.61 Notes: - All auto policies are 250/500 and 100 property with 250/500 Under and uninsured motorist except Auto Owners which is 500/500 State farms 1M umbrella doesn't include under insurance or uninsured motorist. I'd have to up the auto policy portion to 1M. The other umbrella policies all include the under insurance and uninsured coverage Of these quotes, I...
by tashnewbie
Mon Mar 25, 2024 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Accounts or 529 or Saving for New Home?
Replies: 31
Views: 1760

Re: Retirement Accounts or 529 or Saving for New Home?

Definitely max traditional 401k accounts. At your income level, that seems like a no-brainer.

It looks like you've already saved enough for a 20% down payment on the next home, assuming it won't cost more than ~$1.5MM (keeping some cash aside for reserves etc.).

I wouldn't worry about how much down payment to make. That's a decision you can make in 5 years. In general I'd say put at least 20% down to avoid PMI, but probably not more than that, but it depends. If interest rates are >10%, you may want to put more down.
by tashnewbie
Mon Mar 25, 2024 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Underlying Auto Policy amount w/ a 1M umbrella?
Replies: 17
Views: 1266

Re: Underlying Auto Policy amount w/ a 1M umbrella?

What did your agent suggest? I've received quotes from two independent brokers and a quote from a local State Farm office. All costs are annual Auto | Home | Umbrella | Total Acuity: $668.00 | $1,558.00 | $140.00 | $2,366.00 Progressive: $395.00 | $1,247.00 | $392.00 | $2,034.00 State Farm: $449.46 | $1,459.43 | $129.00 | $2,037.89 Auto Owners: $541.34 | $1,698.27 | $208.00 | $2,447.61 Notes: - All auto policies are 250/500 and 100 property with 250/500 Under and uninsured motorist except Auto Owners which is 500/500 State farms 1M umbrella doesn't include under insurance or uninsured motorist. I'd have to up the auto policy portion to 1M. The other umbrella policies all include the under insurance and uninsured coverage Of these quotes, I...
by tashnewbie
Mon Mar 25, 2024 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Underlying Auto Policy amount w/ a 1M umbrella?
Replies: 17
Views: 1266

Re: Underlying Auto Policy amount w/ a 1M umbrella?

I think you'll need to determine whether you think you need that extra $250k of per claimant coverage. And compare the prices between the different coverage levels. I suspect there isn't much difference in the prices.

If you have taxable assets that exceed the combined limits, then you may want to increase the umbrella.
by tashnewbie
Mon Mar 25, 2024 8:08 am
Forum: Personal Consumer Issues
Topic: Reasonable sized smartphone: does such a thing exist in 2024?
Replies: 39
Views: 2532

Re: Reasonable sized smartphone: does such a thing exist in 2024?

I agree with iPhone SE or 13 mini.

I would think you can still purchase a new 13 mini.

I have the 13 mini for personal use and an 11 for work. I couldn't see myself using something the size of the 11 for my personal phone.
by tashnewbie
Mon Mar 25, 2024 8:04 am
Forum: Personal Investments
Topic: Investing for a while, but time to get serious.
Replies: 7
Views: 952

Re: Investing for a while, but time to get serious.

I would get rid of bonds in the Roth IRAs. I would use individual funds instead of the TDF in his 401k. I think it's easier to coordinate your asset allocation across multiple accounts by using separate funds (unless you're using one TDF, but that's not an option for you). I would use the cheap bond fund in his 401k instead of her 401k. I would not split US stock in any of the accounts. Just use S&P 500 or total market, depending on what's available. The other stock options I have in my 401k are: 1. Vanguard Institutional Index Institutional Plus Fund (VIIIX) (0.02%) 2. Vanguard Extended Market Index Institutional Fund (VIEIX) (0.05%) 3. Blackrock Advantage Small Cap Core K Fund (BDSKX) (0.450%) 4. Vanguard Total Intl Stock Index I (VT...
by tashnewbie
Mon Mar 25, 2024 8:02 am
Forum: Personal Investments
Topic: Best option from the options in the 401k for growth- JLGMX?
Replies: 4
Views: 250

Re: Best option from the options in the 401k for growth- JLGMX?

shahhere wrote: Mon Mar 25, 2024 7:44 am VFIAX Vanguard 500 Index Admiral 0.04% 0.04% Large Cap Funds 30.40 14.73 12.66% $ 40,220
VTSAX Vanguard Total Stock Mkt Idx Adm 0.04% 0.04% Large Cap Funds 28.64 13.85 11.97%
I would use VFIAX if this were my 401k, because I have VTSAX in taxable and wouldn't want to think about wash sales when I want to tax loss harvest. If I didn't have that concern, then I'd go with VTSAX.

Some people might use VIGAX. I prefer to hold a broader swath of the market.

I wouldn't chase recent performance in a more expensive fund. The one thing you can be certain about and control are your expenses.
by tashnewbie
Mon Mar 25, 2024 7:57 am
Forum: Personal Investments
Topic: Navigating Tax Loss Harvesting Decisions: VTSAX vs. VLCAX in Taxable Account
Replies: 9
Views: 830

Re: Navigating Tax Loss Harvesting Decisions: VTSAX vs. VLCAX in Taxable Account

When I determined what funds I would use as TLH partners, I did so with the understanding that I may end up having to hold the partner for the long haul. Don't use a fund as a TLH partner if you can't see yourself holding it forever.

I would have no problem using VLCAX. If you've satisfied the 30-day holding period, then you can invest new money into VTSAX if you want. At some point you may have an opportunity to TLH VLCAX.
by tashnewbie
Mon Mar 25, 2024 7:51 am
Forum: Personal Investments
Topic: Investing for a while, but time to get serious.
Replies: 7
Views: 952

Re: Investing for a while, but time to get serious.

I would get rid of bonds in the Roth IRAs. I would use individual funds instead of the TDF in his 401k. I think it's easier to coordinate your asset allocation across multiple accounts by using separate funds (unless you're using one TDF, but that's not an option for you). I would use the cheap bond fund in his 401k instead of her 401k. I would not split US stock in any of the accounts. Just use S&P 500 or total market, depending on what's available. Considering you can't max 401ks yet, I wouldn't worry about HSAs. Stick with the cheap, platinum health plan you have through your wife's employer. I would wait until your portfolio is a bit larger to dedicate some money as "fun money." If you really want to scratch that tinkering...
by tashnewbie
Sun Mar 24, 2024 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Renting when you can afford to buy?
Replies: 23
Views: 1873

Re: Renting when you can afford to buy?

You’ve already started building wealth so your relative’s concern is irrelevant.

In your shoes, I’d continue to rent. You’re young with no spouse or kids (none mentioned), so I would value flexibility more than the anchor of a house. You can pack up and leave when needed for new jobs, have more free time for hobbies and dating, etc. And in a lot of high cost of living areas, renting is a better option than buying.
by tashnewbie
Sun Mar 24, 2024 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Considering new job: comparing the new offer to my current job (mainly how to compare medical insurace)
Replies: 5
Views: 550

Re: Considering new job: comparing the new offer to my current job (mainly how to compare medical insurace)

It doesn’t sound like you have anything to lose by taking this job. A 14% pay cut is better than unemployment. You seem to think there’s a high chance you’ll be laid off within the year.

I’d take the new job if it’s offered and then you can keep looking for something else if you don’t like it.

For health insurance, I’d want to know premiums, deductible, and maybe out of pocket max (latter doesn’t seem that important for a low consumer of healthcare but it does give you the worst case scenario), and network. It may be difficult to get that information before you start.
by tashnewbie
Sun Mar 24, 2024 9:37 am
Forum: Personal Finance (Not Investing)
Topic: To ROTH / Not to ROTH with uncertain income outlook
Replies: 14
Views: 1219

Re: To ROTH / Not to ROTH with uncertain income outlook

What is the tax-deferred non-401k account?

I would do 100% traditional/tax-deferred 401k contributions. Revisit the decision every few years.

Read forum thread about asymmetric risk of traditional and Roth decision.
by tashnewbie
Sun Mar 24, 2024 9:23 am
Forum: Personal Investments
Topic: New employer; should I direct rollover my 401k?
Replies: 11
Views: 815

Re: New employer; should I direct rollover my 401k?

ruralavalon wrote: Sun Mar 24, 2024 8:34 am Wait until you have seen the Summary Plan Description and know about any additional fees charged to plan participants. Then go ahead and rollover into your new employer's plan, stop worrying about delays and market moves that may not happen.
+1.

I’d slow down and wait until you can confirm current plan’s fees. There’s no rush.
by tashnewbie
Thu Mar 21, 2024 11:35 am
Forum: Personal Consumer Issues
Topic: Pretty set financially, but considering relocation to VHCOL (Bay Area) for the career/adventure
Replies: 49
Views: 5282

Re: Pretty set financially, but considering relocation to VHCOL (Bay Area) for the career/adventure

Don’t move and store a lot of stuff back at your old location. Downsize to fit your new place and move on, if you move. Unless you have priceless heirlooms, you may pay to store stuff for years that you’ll never retrieve or use again. +1. Don't bother storing your stuff in the MCOL area. By the way, I'm considering buying a home in MCOL to rent out, offering both storage and equity growth. However, the strain on monthly cash flows and potential loss of tax benefits make it a stretch. Any insights or experiences with this approach would be appreciated. I would never consider this idea. You're more likely to get greater equity growth in your investment portfolio than an investment property in a MCOL area. Plus you'd have to deal with being a...
by tashnewbie
Wed Mar 20, 2024 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting interest income less than $10
Replies: 11
Views: 708

Re: Tax reporting interest income less than $10

I don't think $10 is the threshold for the financial institution to issue a 1099. I earned $25 of interest last year in my checking account and didn't receive a 1099, but perhaps the bank (Charles Schwab) is not complying with the law, but I doubt that. I just tallied the interest from my statements, but later realized the better option is to look at the December statement which should have YTD amounts. You are supposed to report this income even though you didn't get a 1099. $10 is indeed the threshold: https://www.irs.gov/taxtopics/tc403 I bet what happened with Schwab is that the $25 of interest is reported on a consolidated 1099 that you received together with dividend and gain/loss information. (Or if you didn't receive anything in th...
by tashnewbie
Wed Mar 20, 2024 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting interest income less than $10
Replies: 11
Views: 708

Re: Tax reporting interest income less than $10

28fe6 wrote: Wed Mar 20, 2024 1:55 pm My BOA statements do NOT show any YTD or year-end amounts. I find it hard to believe people really look through 12 months of statements to find all interest deposits and manually add them up...out of what could be thousands of transactions. Is there a better way?
I don't review the statements, but just my transaction history and filter them by something like "interest payment." That makes it easier to add everything up.
by tashnewbie
Wed Mar 20, 2024 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting interest income less than $10
Replies: 11
Views: 708

Re: Tax reporting interest income less than $10

I don't think $10 is the threshold for the financial institution to issue a 1099. I earned $25 of interest last year in my checking account and didn't receive a 1099, but perhaps the bank (Charles Schwab) is not complying with the law, but I doubt that. I just tallied the interest from my statements, but later realized the better option is to look at the December statement which should have YTD amounts. You are supposed to report this income even though you didn't get a 1099. $10 is indeed the threshold: https://www.irs.gov/taxtopics/tc403 I bet what happened with Schwab is that the $25 of interest is reported on a consolidated 1099 that you received together with dividend and gain/loss information. (Or if you didn't receive anything in th...
by tashnewbie
Wed Mar 20, 2024 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Questions for 26 y/o
Replies: 6
Views: 673

Re: Tax Questions for 26 y/o

Keep the 5429s, 1099s, and 8606s if you need to use that form.
by tashnewbie
Wed Mar 20, 2024 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Tax reporting interest income less than $10
Replies: 11
Views: 708

Re: Tax reporting interest income less than $10

I don't think $10 is the threshold for the financial institution to issue a 1099. I earned $25 of interest last year in my checking account and didn't receive a 1099, but perhaps the bank (Charles Schwab) is not complying with the law, but I doubt that.

I just tallied the interest from my statements, but later realized the better option is to look at the December statement which should have YTD amounts.

You are supposed to report this income even though you didn't get a 1099.
by tashnewbie
Wed Mar 20, 2024 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire in 5 years?
Replies: 23
Views: 2591

Re: Can I retire in 5 years?

Would you be eligible to starting getting $65k from the pension in 5 years? Or is that an expected future benefit?

Would your wife stop working too or would she keep working until she vests in her pension?
by tashnewbie
Wed Mar 20, 2024 9:23 am
Forum: Personal Consumer Issues
Topic: Pretty set financially, but considering relocation to VHCOL (Bay Area) for the career/adventure
Replies: 49
Views: 5282

Re: Pretty set financially, but considering relocation to VHCOL (Bay Area) for the career/adventure

Upon reviewing, unfortunately she'd be a mere months away from the minimum vesting period. The good news is that she can withdraw it as a lump sum into an IRA, but the bad news is it would need to earn 11% annually to break even. Is there any way for her to stay until she vests? I don't know how much is at stake, but it might be worth it for her to wait to join you. Our current lifestyle includes frequent travel, which we'd miss. To make finances work, we plan to cut discretionary expenses like travel, dining out, and downsizing our living space from a 2BR to a 1BR. These are considerable lifestyle adjustments, especially as we're considering buying a house. She's on board with the plan, despite the contrasts. Seem like some drastic change...
by tashnewbie
Wed Mar 20, 2024 9:08 am
Forum: Personal Investments
Topic: Request for feedback on my plan to "move" bonds to tax deferred accounts/ request for portfolio feedback
Replies: 14
Views: 1061

Re: Request for feedback on my plan to "move" bonds to retirement accounts/ request for portfolio feedback

1- What would you do differently? The goal is to reduce taxes on dividends and interests. 2- how would rebalancing work in the situation I have BND in all non taxable accounts? I would simply buy equivalent to VTI in retirement accounts and rebalance to bndw in taxable? I don't know what I would do, partially because it is a bit confusing to see exactly what you have. Adding this stuff to your original post (use pencil edit button) would be helpful: -Name of funds/ETFs -Your current asset allocation In general, I would want to limit taxable bonds in taxable accounts. I would be okay with Series I Savings bonds and tax-exempt muni bond funds. I would also be okay with some nominal Treasuries/high yield savings accounts/money market funds, p...
by tashnewbie
Wed Mar 20, 2024 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Traditional or Backdoor Roth IRA for 2023 earned income?
Replies: 3
Views: 533

Re: Traditional or Backdoor Roth IRA for 2023 earned income?

I think it would be helpful if you provided your AGI for 2023. I am confused by some of your references to IRA contribution limit, single filer contribution limit, IRA MAGI limit, etc. You may be conflating some concepts and/or I'm missing something (very well could be the latter). Have you determined whether it is more advantageous for you to file MFJ or MFS for 2023? In most cases, MFJ is better, but not all. If you file MFS, it significantly limits the direct Roth IRA contribution limits (starts phasing out at $0 and completely ends at $10k MAGI). Sounds like your one 2023 paycheck exceeded $6500 (2023 Roth IRA contribution limit for people under age 50) but was less than $138k (beginning of single filer Roth IRA income limit for 2023; p...
by tashnewbie
Wed Mar 20, 2024 7:56 am
Forum: Personal Finance (Not Investing)
Topic: What did you do today to increase your income? [Financial]
Replies: 64
Views: 4235

Re: What did you do today to increase your income?

I don't do anything to actively increase my income. I get paid nominal sums for taking surveys, but I consider that a hobby. I'm in my late 30s, still in accumulation phase, with good income from my full-time job. I see no need to work to increase income. I make enough to meet my goals in what feels like a reasonable timeframe. I feel like I have more money than time. I have no interest in spending my more limited resource (time) to try to make more money. So with my non-work time, I do the stuff that I find enjoyable. I never felt I could see far enough ahead in life to know that my income is adequate--thus the inclination toward earning more. Well, at almost 40, single, with no dependents, I think saving 6 figures a year is adequate. If ...
by tashnewbie
Wed Mar 20, 2024 7:33 am
Forum: Personal Finance (Not Investing)
Topic: What did you do today to increase your income? [Financial]
Replies: 64
Views: 4235

Re: What did you do today to increase your income?

I don't do anything to actively increase my income. I get paid nominal sums for taking surveys, but I consider that a hobby.

I'm in my late 30s, still in accumulation phase, with good income from my full-time job.

I see no need to work to increase income. I make enough to meet my goals in what feels like a reasonable timeframe.

I feel like I have more money than time. I have no interest in spending my more limited resource (time) to try to make more money.

So with my non-work time, I do the stuff that I find enjoyable.
by tashnewbie
Tue Mar 19, 2024 3:20 pm
Forum: Personal Investments
Topic: Should (and How) I get out of TDFs in my taxable account
Replies: 17
Views: 1335

Re: Should (and How) I get out of TDFs in my taxable account

Hi All, Fidelity customer here. And got a $7K sticker shock from TDFs in my taxable accounts while prepping taxes this week. I've never sold anything so this is all coming from dividends/interests/capital gains distro. IMHO The cost of taxes is now exceeding the benefit of TDFs' simplicity . So I'm wondering If I should sell my TDFs and buy into the 3 fund portfolio? If so, how would you recommend I do it without incurring further taxes from sale? Appreciate any and all advice Row Labels Sum of Current Value Sum of Current Value2 Taxable Joint WROS - TOD $748K 55% FBIFX $497K 37% FIOFX $141k 10% VTIVX $109k 8% FZFXX** $19 0% You owe $7k in taxes due to the dividends? Agree with others that low hanging fruit is to turn off automatic reinves...
by tashnewbie
Tue Mar 19, 2024 11:36 am
Forum: Personal Investments
Topic: Asset location for our international funds, and transitioning to developed?
Replies: 11
Views: 712

Re: Asset location for our international funds, and transitioning to developed?

muffins14 wrote: Tue Mar 19, 2024 10:40 am But if you hold it in taxable, you can tax-loss harvest it. One or two large TLH events is likely enough to offset $3000 in annual income for decades and save you more on capital gains tax than you’d pay on the higher dividends.
This is very true, and depending on one's outlook on international, one may expect more TLH opportunities with international. I did quite a bit of TLH of international in 2022, but I don't know that I'd bank on TLH ability when deciding where to hold international. If I didn't have enough room in traditional 401k, I also wouldn't fret over holding some international in taxable.