Search found 41 matches

by DIYtrixie
Fri Feb 19, 2021 9:45 pm
Forum: Personal Investments
Topic: Two 529s, one beneficiary: order of use?
Replies: 12
Views: 1077

Re: Two 529s, one beneficiary: order of use?

Regarding leftovers in the 529 plan, after son finishes college: I know it is straightforward to change beneficiary in parents account to a different beneficiary, such as a future grandchild. I’m less clear on the best use of leftovers in the grandparents 529. Grandparents don’t need the money and w...
by DIYtrixie
Fri Feb 19, 2021 8:16 pm
Forum: Personal Investments
Topic: Two 529s, one beneficiary: order of use?
Replies: 12
Views: 1077

Re: Two 529s, one beneficiary: order of use?

Thanks, everyone, for sharing this advice! Much appreciated.
by DIYtrixie
Wed Feb 17, 2021 5:54 pm
Forum: Personal Investments
Topic: Two 529s, one beneficiary: order of use?
Replies: 12
Views: 1077

Two 529s, one beneficiary: order of use?

My son is the beneficiary of two 529 accounts, one set up by his parents and the other by his grandparents. We expect to start drawing from the 529s this fall when he starts university. Is there a preferred order of use of these funds: parents first, or grandparents first? For example, if we use the...
by DIYtrixie
Sun Jan 03, 2021 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Buying expensive home vs cheap home and renovation
Replies: 50
Views: 3592

Re: Buying expensive home vs cheap home and renovation

100k would seem very optimistic for a "full gut renovation" on even a small house if hiring others to do the work. Kitchens, bathrooms, roofs, windows, fireplace, floors, painting add up very quickly. Agreed. Kitchen alone can hit 50k pretty fast. Maybe I should pass 3) then? I cannot ima...
by DIYtrixie
Sun Jan 03, 2021 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Buying expensive home vs cheap home and renovation
Replies: 50
Views: 3592

Re: Buying expensive home vs cheap home and renovation

hicabob wrote: Sun Jan 03, 2021 12:14 pm 100k would seem very optimistic for a "full gut renovation" on even a small house if hiring others to do the work. Kitchens, bathrooms, roofs, windows, fireplace, floors, painting add up very quickly.
Agreed. Kitchen alone can hit 50k pretty fast.
by DIYtrixie
Tue Dec 15, 2020 8:04 pm
Forum: Personal Investments
Topic: 27 years old - How am I doing?
Replies: 30
Views: 4459

Re: 27 years old - How am I doing?

No pension available to me. I work in the financial services industry as a financial analyst. Current job feels fairly stable/safe but income growth is slow so may look into moving jobs to increase salary in the near to medium term future, though not really sure what job yet. Currently have around ...
by DIYtrixie
Mon Dec 14, 2020 8:45 pm
Forum: Personal Investments
Topic: 27 years old - How am I doing?
Replies: 30
Views: 4459

Re: 27 years old - How am I doing?

Does your 401k offer a Roth option? Given your high savings rate and early start, you’re likely to wind up with a whopper balance in your 401k. Having a portion of that as Roth will help you manage RMDs. My 401k does offer a Roth option. Are you advising that for 2021 I try to shift from maxing out...
by DIYtrixie
Sun Dec 13, 2020 10:51 pm
Forum: Personal Investments
Topic: How should I invest new money?
Replies: 8
Views: 2106

Re: How should I invest new money?

I want to eventually open a 529, but I'd imagine you need children before opening one up. No child required: you can open one now with yourself as the beneficiary, and change it to a child of yours (or a niece, nephew, etc.) down the road. BHers have mixed feelings about 529s versus other ways to s...
by DIYtrixie
Sun Dec 13, 2020 9:53 pm
Forum: Personal Investments
Topic: 27 years old - How am I doing?
Replies: 30
Views: 4459

Re: 27 years old - How am I doing?

1. How am I doing? I ideally would like to be FI (financially independent) by sometime in my late thirties/early forties. Am I on track? You’re doing great but I wouldn’t get too bogged down with a timeline at your stage, given your age and the changes on your short/medium horizon (moving in with g...
by DIYtrixie
Sun Dec 13, 2020 9:34 pm
Forum: Personal Investments
Topic: Questions about Vanguard LifeStrategy Funds
Replies: 20
Views: 2118

Re: Questions about Vanguard LifeStrategy Funds

-Our income is too high to contribute to Roth IRA and for deductions to a Traditional IRA contribution. It seemed to me and others that I have talked to (parents, accountant, etc.) that it is not worth contributing to Traditional IRA without deduction due to the limitations on the money and no tax ...
by DIYtrixie
Sun Dec 13, 2020 9:10 pm
Forum: Personal Investments
Topic: 529 or not?
Replies: 29
Views: 2336

Re: 529 or not?

Jablean wrote: Sun Dec 13, 2020 4:07 pm FAFSA
Thanks; much appreciated!
by DIYtrixie
Sun Dec 13, 2020 5:06 am
Forum: Personal Investments
Topic: 529 or not?
Replies: 29
Views: 2336

Re: 529 or not?

Jablean wrote: Sat Dec 12, 2020 6:02 pm And I took everyone's advice here and said no to the FAFSA.
Would you mind expanding on this: What advice, under what circumstances?
by DIYtrixie
Sat Dec 12, 2020 7:38 am
Forum: Personal Investments
Topic: When to change strategy?
Replies: 12
Views: 1210

Re: When to change strategy?

I've had to do this in a taxable account and what I've done is as follows: - I already had the account set up to track individual lots. So when I decided that there was a fund I no longer wanted, first thing I did was sell any that were under water. Then I sold shares that were above water such tha...
by DIYtrixie
Sat Nov 28, 2020 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: IRS hasn't processed 2019 tax amendment(Mail delivered to IRS August 2020), not showing up in IRS portal, what to do ?
Replies: 20
Views: 1320

Re: IRS hasn't processed 2019 tax amendment(Mail delivered to IRS August 2020), not showing up in IRS portal, what to do

Anyone still waiting on a 2019 tax refund from an e-filing just prior to the normal April 15 deadline? IRS web site says mine is still being processed. Any chance this is COVID still, versus a deeper look-over by IRS?
by DIYtrixie
Mon Nov 23, 2020 7:02 pm
Forum: Investing - Theory, News & General
Topic: How do Bogleheads cope with FOMO? [Fear Of Missing Out]
Replies: 256
Views: 15553

Re: Need reassurance - having FOMO

Can any of the Tesla millionaires chime in to let us know how they did and if they are still hanging in or selling out ? Not a millionaire but TSLA has been part of my Roth ‘fun money’ allocation since 11/16. When it hit 10x over my purchase price, I sold enough shares to cover 2x my total initial ...
by DIYtrixie
Sun Nov 22, 2020 8:22 am
Forum: Personal Finance (Not Investing)
Topic: HSA Contribution - 2021
Replies: 21
Views: 2223

Re: HSA Contribution - 2021

For those years when the older spouse starts Medicare but the younger is still <65 and on an HSA-eligible plan, is it correct that the max contribution for the younger spouse is reduced to single+$1k catchup (versus family+$1k catchup)?
by DIYtrixie
Tue Nov 17, 2020 3:39 pm
Forum: Personal Investments
Topic: I may die poor
Replies: 160
Views: 17889

Re: I may die poor

arcticpineapplecorp. wrote: Tue Nov 17, 2020 11:01 am
Do you need to cash out your Roth to pay remainder of kid's college?

Could kid assume remaining debt and be happy with having most of college paid for by you?

[...]

Kid has time to pay off that debt and save for retirement.
+1!
by DIYtrixie
Sat Nov 14, 2020 10:51 am
Forum: Personal Investments
Topic: Not Your Typical ROTH vs. Traditional Question
Replies: 15
Views: 1087

Re: Not Your Typical ROTH vs. Traditional Question

I agree with Celia. And tax diversification is a big deal, IMO. Can't predict what taxes are going to do in the future (but they're pretty darn low right now, from a historical perspective).
by DIYtrixie
Sat Nov 14, 2020 9:43 am
Forum: Personal Investments
Topic: How do you handle "fun money"?
Replies: 63
Views: 5612

Re: How do you handle "fun money"?

5) I sell half when it triples. When you sell half, do you have a "rule" about what you do with the proceeds? Meaning, does your IPS dictate that you move some of those earnings out of your fun money 'pile' and into an index fund, or is all earmarked to invest in one or more other individ...
by DIYtrixie
Sat Nov 14, 2020 8:56 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 1367
Views: 184011

Re: How much money do you want to retire?

My goal is to have 2.3 million at age 59, with 450k of it in Roth. An additional 250k in savings. I am planning to live on the Roth (90k/year) until I qualify for Medicare at 65 and supplement this with 25k/year from savings for travel. This will allow me to qualify for ACA and let my 403b and 457 ...
by DIYtrixie
Sat Nov 07, 2020 6:28 pm
Forum: Personal Consumer Issues
Topic: What do you give your adult children at holiday time?
Replies: 175
Views: 12614

Re: What do you give your adult children at holiday time?

My sibling and I each had our first child in the same year, so it was a natural time for my parents (meaning, my mom) to shift their gift-buying efforts from us adult kids to the little ones. Yet it clearly still bothered my mom to not do “something” for us adults. She mentioned this for years, but ...
by DIYtrixie
Thu Nov 05, 2020 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2020 available Nov 4
Replies: 86
Views: 10441

Re: TurboTax 2020 available Nov 4

Can TT Deluxe handle tax preparation for an LLC? If not, what version is required?
by DIYtrixie
Mon Nov 02, 2020 7:24 pm
Forum: Investing - Theory, News & General
Topic: close to income limit: backdoor Roth in Jan, regardless?
Replies: 4
Views: 462

Re: close to income limit: backdoor Roth in Jan, regardless?

Thanks for confirming! It’ll be the first try at a back door Roth but the wiki has been carefully read and the other account part of the picture is quite simple (no existing IRA of any kind except a Roth).
by DIYtrixie
Mon Nov 02, 2020 10:44 am
Forum: Investing - Theory, News & General
Topic: close to income limit: backdoor Roth in Jan, regardless?
Replies: 4
Views: 462

close to income limit: backdoor Roth in Jan, regardless?

Hi Bogleheads, For 2021, a family member expects to be very close to the income limit for a straightforward Roth contribution, but the precise numbers will not be clear until late in the year. Is there any reason not to just go ahead and use the backdoor Roth approach? That would enable the IRA cont...
by DIYtrixie
Sun Nov 01, 2020 8:07 am
Forum: Personal Investments
Topic: 1.3M at 30 - what would you do?
Replies: 89
Views: 9869

Re: 1.3M at 30 - what would you do?

I'd be very curious to hear from other people that married / dated while having substantially more cash than their SO. How did you handle finances, when did you breach this topic, etc? I live below my means (as seen in my original post), so I can't imagine it would be very obvious, especially early...
by DIYtrixie
Sun Oct 25, 2020 10:38 am
Forum: Personal Investments
Topic: Fidelity HSA
Replies: 33
Views: 4172

Re: Fidelity HSA

livesoft said: OP and spouse are over age 55, so they can each contribute an additional $1,000 to their own HSAs (each spouse can have an HSA). So the limits are $7100 for the family plan $1000 for one spouse $1000 for the other spouse Thanks for pointing out that the additional $1k HSA contributio...
by DIYtrixie
Sat Oct 24, 2020 1:01 pm
Forum: Personal Investments
Topic: How to rebalance if you keep stock funds in taxable and bond funds 401k?
Replies: 7
Views: 654

Re: How to rebalance if you keep stock funds in taxable and bond funds 401k?

If you are still contributing to your 401k, you can rebalance gradually just by changing the allocation for your future contributions. Need to up your bond percentage? Buy only bonds for a few months. Etc. This strategy becomes less effective as your 401k balance gets larger, meaning it will take lo...
by DIYtrixie
Sat Oct 24, 2020 12:53 pm
Forum: Personal Investments
Topic: Long Term Capital Gains rate
Replies: 20
Views: 1981

Re: Long Term Capital Gains rate

Skeeter1 wrote: Sat Oct 24, 2020 8:39 am If this loads properly, this is a simple but interesting way to looking at CG.
https://engaging-data.com/tax-brackets/
Wow -- what a great visual! (And a wonderful rabbit hole of a site, for visualizing data of all kinds.) Thanks for the link!
by DIYtrixie
Sat Oct 24, 2020 12:22 pm
Forum: Personal Investments
Topic: New Investor Profile - What Should I Invest In?
Replies: 18
Views: 1414

Re: New Investor Profile - What Should I Invest In?

401k: These expense ratios are high. I would use PREIX and PBDIX only, for new contributions AND exchanging into them from what you hold now. Use PBDIX for all 10% of your bond allocation (across your entire portfolio); a 401k or other tax-deferred account is the best place to hold bonds. Roth IRA: ...
by DIYtrixie
Sun Oct 04, 2020 10:14 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

I would work on streamlining and simplifying your portfolio so it is easier to manage and understand. Roll everything up into a simple 3-fund portfolio, and try to consolidate all holding with less than 5%. Get rid of the trivial REIT and International Bond holdings. You are not reducing risk by ho...
by DIYtrixie
Sun Oct 04, 2020 9:54 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

What caught my eye is the two 401k contributions of 21 + 24. Mind providing some color? Whoops; good catch. I edited my original post. It's actually 10 + 24, with the 10 being to something that I've always considered "401k" but is really a mandatory contribution+match situation. This is w...
by DIYtrixie
Sun Oct 04, 2020 9:48 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

Duplicate post.
by DIYtrixie
Sun Oct 04, 2020 9:47 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

Curious— why do you make a point of telling us that you have large LTCG on stocks held in your Roth? Seems really irrelevant. Hah -- That was me trying to fit in with you BHers, not bragging. :D I know individual stocks are a no-no to many here. I was trying to indicate this was play money that's d...
by DIYtrixie
Sun Oct 04, 2020 6:39 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

kelvan80 wrote: Sun Oct 04, 2020 12:23 am Why do you have a family loan and a 7 figure portfolio when you're 50? Why not pay that off yesterday?
Families are complicated. This works for us.
by DIYtrixie
Sun Oct 04, 2020 6:34 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

Curious— why do you make a point of telling us that you have large LTCG on stocks held in your Roth? Seems really irrelevant. Hah -- That was me trying to fit in with you BHers, not bragging. :D I know individual stocks are a no-no to many here. I was trying to indicate this was play money that's d...
by DIYtrixie
Sun Oct 04, 2020 6:28 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

4. Even though we’re in the 24% bracket, I recently started contributing to the Roth 401k option as I’m concerned that our large tax-deferred balances could be a tax killer once RMDs start. Or maybe they won’t be, but at least this way I’m hedging my bets. Thoughts on this? A defensible choice. You...
by DIYtrixie
Sun Oct 04, 2020 6:21 am
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

Re: "0" Birthday has ramped up our planning

What caught my eye is the two 401k contributions of 21 + 24. Mind providing some color? Whoops; good catch. I edited my original post. It's actually 10 + 24, with the 10 being to something that I've always considered "401k" but is really a mandatory contribution+match situation. This is w...
by DIYtrixie
Sat Oct 03, 2020 8:36 pm
Forum: Personal Investments
Topic: "0" Birthday has ramped up our planning
Replies: 18
Views: 2555

"0" Birthday has ramped up our planning

Longtime lurker here. I owe most of my investment success to what I've read on the Bogleheads boards, so thank you. Just celebrated a birthday with “0” at the end of it, which has us looking at our financial picture with fresh eyes. We’d like to retire in 12 years, when I'm 62. I’ve played around so...
by DIYtrixie
Thu Oct 01, 2020 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-retirement and bridge to Medicare
Replies: 25
Views: 2685

Re: Pre-retirement and bridge to Medicare

[/quote]
what is the significance of age 63?
[/quote]

63 (aka, two years before Medicare starts) is when AGI must be below $170k threshold in order to avoid paying a higher cost for Medicare — this is called IRMAA.
by DIYtrixie
Tue Sep 29, 2020 9:02 am
Forum: Personal Consumer Issues
Topic: DIY life style. Typical Boglehead?
Replies: 91
Views: 6924

Re: DIY life style. Typical Boglehead?

Definitely in the DIY camp but with hard limits that I do not cross. These include high voltage, heights (roof, etc.), skills that require true artistry (including sheet rocking, as others have mentioned) or very specialized equipment. And anything house related that involves maintaining a water-tig...
by DIYtrixie
Mon Sep 28, 2020 6:59 pm
Forum: Personal Consumer Issues
Topic: Vacuum for mostly hardwood floors...
Replies: 48
Views: 2917

Re: Vacuum for mostly hardwood floors...

+1 for Shark!