Search found 772 matches

by SRenaeP
Wed Dec 12, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: To each his own ( I guess ) [Opinions of traveling in retirement]
Replies: 109
Views: 7712

Re: To each his own ( I guess ) [Opinions of traveling in retirement]

I have a friend who traveled a lot in his youth. Busuness took him there and also he went places on his own. Now, so much later in life, he is married. Although his wife would like to travel, he does not have that desire anymore, saying he had been there, done this or that. So he effectively has ta...
by SRenaeP
Tue Dec 11, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: 401k Match for Highly compensated employee
Replies: 4
Views: 501

Re: 401k Match for Highly compensated employee

Hello, DW is a highly compensated employee making ~225 K / year. Her 401k match from employer is 50% on 9% of contribution. If she contributes 9% to maximize the match, she maxes out on IRS limit of $19 K in 2019. She does have a Roth 401k option - but the IRS limit combines pre-tax and Roth contri...
by SRenaeP
Tue Dec 11, 2018 8:24 am
Forum: Personal Consumer Issues
Topic: To each his own ( I guess ) [Opinions of traveling in retirement]
Replies: 109
Views: 7712

Re: To each his own ( I guess ) [Opinions of traveling in retirement]

The cost and hassle of travel keeps most people from doing it. Airports, security, long flights, hotels, restaurants, transportation can turn the most curious person into a home body. So I'd say take one or two max short trips a year and make it somewhere fun. Or just kick back and watch the travel...
by SRenaeP
Mon Dec 10, 2018 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth Priority
Replies: 12
Views: 992

Re: Mega Backdoor Roth Priority

See also Investment Order for a similar but more detailed set of suggestions. In short, only you can decide the amount of your savings/investments needed for short vs. long term spending. The longer term your outlook, the more a mega backdoor Roth is likely preferable to taxable accounts. This is a...
by SRenaeP
Mon Dec 10, 2018 8:40 am
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth Priority
Replies: 12
Views: 992

Re: Mega Backdoor Roth Priority

I generally follow advice from https://www.bogleheads.org/wiki/Prioritizing_investments in choosing where to invest my money. See also Investment Order for a similar but more detailed set of suggestions. In short, only you can decide the amount of your savings/investments needed for short vs. long ...
by SRenaeP
Fri Dec 07, 2018 3:42 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth Priority
Replies: 12
Views: 992

Re: Mega Backdoor Roth Priority

Thanks everyone for the advice. I don't have all of the details from my employer yet but it sounds like it might be in-plan Roth rollover only. I was also under the impression that you paid a lot more in taxes when converting after-tax 401k contributions to Roth, but it sounds like you pay only on ...
by SRenaeP
Fri Dec 07, 2018 2:15 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth Priority
Replies: 12
Views: 992

Re: Mega Backdoor Roth Priority

I split contributions between taxable and the mega backdoor. My 401k only allows for in-plan Roth conversions without penalty, not in service withdrawals. I like the flexibility of being able to access the taxable funds when/if I want.
by SRenaeP
Fri Dec 07, 2018 10:00 am
Forum: Investing - Help with Personal Investments
Topic: Savings Plan for a Sole Proprietor - Backdoor SEP?
Replies: 11
Views: 661

Re: Savings Plan for a Sole Proprietor - Backdoor SEP?

The 'problem' with a SEP IRA is that if you have pre-tax funds in any IRA on December 31 of the year in which you do a backdoor Roth, you will be subject to pro rata taxation.
by SRenaeP
Tue Dec 04, 2018 8:40 am
Forum: Investing - Help with Personal Investments
Topic: Minimizing capital gains taxes when moving to low-cost funds?
Replies: 26
Views: 3003

Re: Minimizing capital gains taxes when moving to low-cost funds?

If you regularly make charitable contributions, start donating appreciated shares instead of cash. This will allow you to forgo any taxes on the gains.
by SRenaeP
Mon Dec 03, 2018 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Where to put "left over" money
Replies: 18
Views: 1819

Re: Where to put "left over" money

For us, 'left over' money goes to the following, not necessarily in this order -

taxable brokerage account
after tax 401k (mega backdoor Roth)
extra principal payments to mortgage
purchasing rental property
creature comforts (flying premium coach vs regular coach, etc.)
upcoming - 529 for nephew
by SRenaeP
Wed Nov 28, 2018 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Using equity in my current home to help buy my next one?
Replies: 7
Views: 1106

Re: Using equity in my current home to help buy my next one?

Check with your "new" lender to see if "Recasting" is an option. This is a process whereby you get your new mortgage and at some future point in time you can make a substantial principle pay-down on the loan and the mortgage will be re-amortized using the new mortgage balance. Interest rate and ter...
by SRenaeP
Tue Nov 27, 2018 12:58 pm
Forum: Investing - Help with Personal Investments
Topic: another "Help with my money" questions
Replies: 10
Views: 1144

Re: another "Help with my money" questions

You're doing well. I would stop the extra payments to the student loan since the interest rate is so low. I would allocate those and any other extra funds to some combination of the following - dependent care spending account, if childcare will be necessary after the baby is born 529 plan, if tax-de...
by SRenaeP
Tue Nov 27, 2018 12:54 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard email : Conversions to Roth IRAs can no longer be reversed
Replies: 10
Views: 986

Re: Vanguard email : Conversions to Roth IRAs can no longer be reversed

Hi, I generally do the recharacterization to Roth IRA as my income is above limit. I put the money in Traditional IRA at the beginning for the year and then move the money to Roth IRA account in Vanguard. However, I received below email. Just want to confirm if I can still do the above going forwar...
by SRenaeP
Mon Nov 26, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax or use an accountant
Replies: 14
Views: 1486

Re: Turbo Tax or use an accountant

As 2018 draws to a close I'm thinking ahead about how to handle making my 2018 tax filings. My wife and I have historically used Turbo Tax to do our returns as we have had a simple tax situation (both W2, no property most investments in tax deferred vehicles). This year our tax situation has grown ...
by SRenaeP
Tue Nov 13, 2018 2:45 pm
Forum: Personal Consumer Issues
Topic: Global Entry Turnaround Time ?
Replies: 28
Views: 2127

Re: Global Entry Turnaround Time ?

I applied two weeks ago and am still waiting. I thought mine would go through super quick but I was wrong. Our airport's next available appt is March so I very well may not get approved before my trip. So it's looking like a wasted $100 for me which I am really not happy about but if I can grab a c...
by SRenaeP
Tue Nov 13, 2018 2:15 pm
Forum: Investing - Help with Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 6
Views: 847

Re: Can landlords take the QBI tax break?

Does anyone have a clear understanding of the IRS stance on whether landlords can take the 20% deduction in rental income? I have been reading up on it and the latest information suggests No. There is nothing clear but some case reports have denied landlords according to an article in Forbes. One h...
by SRenaeP
Tue Nov 13, 2018 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 6
Views: 847

Re: Can landlords take the QBI tax break?

I believe so. One of the businesses spelled out is "investing" and I also see that dividends from qualified REIT are elgible. Investing may be excluded depending on income. Q5. What is a qualified trade or business? A5. A qualified trade or business is any trade or business, with two exceptions: 1....
by SRenaeP
Mon Nov 12, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Best free online tax return predictor?
Replies: 10
Views: 1227

Re: Best free online tax return predictor?

I use a home grown spreadsheet that I tweak from year to year as tax brackets and circumstances change.
by SRenaeP
Fri Nov 09, 2018 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Double-check your contributions to tax-advantaged accounts this time of year
Replies: 15
Views: 1755

Re: Double-check your contributions to tax-advantaged accounts this time of year

Thanks for the reminder. Double-checking prompted me to stop both my and DH's HSA contributions. Unfortunately the change won't take effect until the 1st of the month so we will still have excess contributions. However, I will request the excess funds be returned before the end of the year.
by SRenaeP
Mon Nov 05, 2018 10:37 am
Forum: Personal Consumer Issues
Topic: Need New Phone?
Replies: 17
Views: 2202

Re: Need New Phone?

This is a lot of phone for the money, but there are plenty of financially attractive options out there. If you want iOS, for instance, with a number of deals an iPhone XR can be purchased for $300-$450 without any trade-ins. Keep hearing that the iPhone XR is a great choice but the most basic XR is...
by SRenaeP
Wed Oct 31, 2018 9:58 am
Forum: Personal Consumer Issues
Topic: How hard to pull off this South Africa trip independently?
Replies: 13
Views: 575

Re: How hard to pull off this South Africa trip independently?

*I* don't think it would be hard but I'm super organized and love planning. If you can say the same, go for it. If not, you could still do it but it would probably make you miserable. Any particular reason you have so much safari time? I went to Kruger last year and maybe I'm a cynic but once I had ...
by SRenaeP
Tue Oct 30, 2018 4:38 pm
Forum: Investing - Help with Personal Investments
Topic: 403(b) Roth in-plan conversion losses, what is the income?
Replies: 13
Views: 694

Re: 403(b) Roth in-plan conversion losses, what is the income?

On a somewhat related note, how would a loss work when converting *after-tax* contributions? I've been doing the mega back door. If I had $10k contributions/basis for this year but convert only $8k due to losses, does the $2k difference somehow carryover or is there no benefit to converting at a los...
by SRenaeP
Wed Oct 17, 2018 11:02 am
Forum: Investing - Help with Personal Investments
Topic: Multiple Backdoor Roth Conversions each year for same tax year
Replies: 8
Views: 378

Re: Multiple Backdoor Roth Conversions each year for same tax year

Yes, you can but more moving pieces creates more possibilities for errors/confusion. Doing it your way *may* generate two 1099-Rs, for example. Why not just contribute however you can afford/like until you reach $5500, then do one conversion?
by SRenaeP
Tue Oct 16, 2018 11:47 am
Forum: Investing - Help with Personal Investments
Topic: Pay CGs now to move into Index, or hold?
Replies: 8
Views: 574

Re: Pay CGs now to move into Index, or hold?

Do you make any significant charitable contributions? If so, donate the appreciated shares to avoid CG taxes then use the cash to buy into the desired index funds.
by SRenaeP
Mon Oct 15, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Rental Application Form Ideas
Replies: 9
Views: 579

Re: Rental Application Form Ideas

HEDGEFUNDIE wrote:
Sun Oct 14, 2018 10:37 pm
I use cozy.co as a landlord and like it a lot.
+1 for Cozy. I put the rental criteria in the listing and only provide the application link once people have viewed in person.
by SRenaeP
Fri Oct 12, 2018 7:27 am
Forum: Investing - Help with Personal Investments
Topic: Query - Rolling after-tax 401(k) funds to a Roth IRA
Replies: 4
Views: 313

Re: Query - Rolling after-tax 401(k) funds to a Roth IRA

dbk wrote:
Fri Oct 12, 2018 12:57 am
Is there a limit on number of times we can do roll over of after-tax 401(k) funds to a Roth IRA in a given year?
Can it be done for every paycheck's After-Tax 401k contribution? (our paycheck is Biweekly).
Thanks.
Different firms/plans enact different limits. Check your plan documents.
by SRenaeP
Fri Oct 12, 2018 7:25 am
Forum: Investing - Help with Personal Investments
Topic: After Tax 401k Contri's vs Trad 401k vs Roth 401k
Replies: 23
Views: 935

Re: After Tax 401k Contri's vs Trad 401k vs Roth 401k

jbsmith05 wrote:
Thu Oct 11, 2018 8:35 pm
So anyway - what can you tell me about this, I searched the forums but not many relevant results, mostly because as soon as you put "401k" as a search parameter you get thousands of results
If you search for mega backdoor Roth, you will likely find numerous threads on the topic.
by SRenaeP
Thu Oct 11, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, backdoor roth IRA for 1099 income?
Replies: 1
Views: 162

Re: SEP IRA, backdoor roth IRA for 1099 income?

If you have self-employment income (which you do, received via 1099), you are eligible to contribute to a SEP IRA. Yes, you can convert the SEP to a Roth IRA if you desire. However, at your income level, it may not be the best course of action. Many more details of your situation would have to be ta...
by SRenaeP
Thu Oct 11, 2018 9:57 am
Forum: Personal Consumer Issues
Topic: tablet or small laptop for general and travel computer?
Replies: 41
Views: 2336

Re: tablet or small laptop for general and travel computer?

I use a Kindle Fire. I have a keyboard for it but never use it. I found it more burdensome/clunky than typing on a touchscreen.
by SRenaeP
Tue Oct 09, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Postponing the bonus to next year. Is it a good idea?
Replies: 30
Views: 2010

Re: Postponing the bonus to next year. Is it a good idea?

Do not know the answer - BUT there may or might be some IRS (or other applicable) rules requiring taxable income be reported in the period/year when the work is done. This certainly isn't the case. We don't all get paid Dec 31 to account for the work done that day. For the vast majority of people, ...
by SRenaeP
Tue Oct 09, 2018 8:17 am
Forum: Personal Finance (Not Investing)
Topic: 2018 Tax Planning - one spouse with one state income, other spouse with multi states income
Replies: 7
Views: 560

Re: 2018 Tax Planning - one spouse with one state income, other spouse with multi states income

Our situation for tax year 2018: We are a couple residing together in MA (full year resident living in MA for last several years) I work in two states. MA (80% time) and VA (20% time). This is my first year when I have income from two states. Previously I had income only from one state (MA). My spo...
by SRenaeP
Mon Oct 08, 2018 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Depreciated rental property expenses
Replies: 6
Views: 813

Re: Depreciated rental property expenses

Also, I have a follow up question regarding depreciation, how do you determine building value? Do you look at property tax document for the building value or do you go by purchase price? Or homeowner insurance estimate to rebuild? Some of the land estimate in places like bay area must be sky high v...
by SRenaeP
Mon Oct 08, 2018 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Depreciated rental property expenses
Replies: 6
Views: 813

Re: Depreciated rental property expenses

Also, I have a follow up question regarding depreciation, how do you determine building value? Do you look at property tax document for the building value or do you go by purchase price? Or homeowner insurance estimate to rebuild? Some of the land estimate in places like bay area must be sky high v...
by SRenaeP
Mon Oct 08, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: 2018 Tax Planning - one spouse with one state income, other spouse with multi states income
Replies: 7
Views: 560

Re: 2018 Tax Planning - one spouse with one state income, other spouse with multi states income

Our situation for tax year 2018: We are a couple residing together in MA (full year resident living in MA for last several years) I work in two states. MA (80% time) and VA (20% time). This is my first year when I have income from two states. Previously I had income only from one state (MA). My spo...
by SRenaeP
Mon Oct 08, 2018 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Tax question: Bought a rental property on 12/31/2017...
Replies: 4
Views: 653

Re: Tax question: Bought a rental property on 12/31/2017...

togb wrote:
Sun Oct 07, 2018 10:48 pm
I'm pretty sure you can deduct some of your closing costs. Check with your tax advisor to be sure.
The OP should read IRS Pub 527. Some closing costs should be included as part of the basis (therefore, able to be depreciated) and others are considered expenses.
by SRenaeP
Mon Oct 08, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Would you buy this insurance policy?
Replies: 9
Views: 474

Re: Would you buy this insurance policy?

Are you relatively sure you'll be hospitalized in the next year? If so, definitely buy it. If not, well who knows? For myself, I don't bother because I'm in good health and would rather self-insure. However, for coworkers who were pregnant at the time of enrollment, it was a no brainer to obtain the...
by SRenaeP
Mon Sep 17, 2018 4:13 am
Forum: Personal Consumer Issues
Topic: Phone Plan for US-Child doing a Semester Abroad (VerizonWirelss)
Replies: 50
Views: 2660

Re: Phone Plan for US-Child doing a Semester Abroad (VerizonWirelss)

Glad everything worked out for your daughter. Just a note for others who may be reading re the AT&T phone that wasn't unlocked. If you're not under contract/owe on your phone, you can do an online request to unlock your phone. They will send you a code and instructions on how to do so. I suspect the...
by SRenaeP
Tue Aug 28, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Getting out of vacation club contract
Replies: 10
Views: 1887

Re: Getting out of vacation club contract

I second the recommendation to go to the TUG website. You may be able to arrange to return the timeshare to the developer. Any money already paid will be gone but they won't owe anything further.
by SRenaeP
Thu Aug 16, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Marriage Name Change Logistics
Replies: 14
Views: 1587

Re: Marriage Name Change Logistics

Contrarian view - unless your wife just really really wants to take your last name (I'm assuming that's the case here), don't bother. She can use your last name socially without changing it legally. I've found that changing my name has created ongoing issues even 12 years later with my names not 'ma...
by SRenaeP
Mon Aug 13, 2018 3:42 pm
Forum: Personal Consumer Issues
Topic: Phone Plan for US-Child doing a Semester Abroad (VerizonWirelss)
Replies: 50
Views: 2660

Re: Phone Plan for US-Child doing a Semester Abroad (VerizonWirelss)

If you don't still owe Verizon for your phone, you should be able to get it unlocked. If that's the case, a local sim is probably the cheapest option. Your daughter can then call home using Skype very cheaply.
by SRenaeP
Tue Aug 07, 2018 8:41 am
Forum: Investing - Help with Personal Investments
Topic: Another 401k question
Replies: 11
Views: 491

Re: Another 401k question

Check your plan rules. My plan allows me to specify a percentage to each type of account - pre-tax, Roth and after-tax. Therefore, you'd contribute 14% to pre-tax and 6% to after-tax. Yup, I can do that. When I looked over the plan (and called) it seemed fairly hazy on whether or not that after-tax...
by SRenaeP
Tue Aug 07, 2018 7:55 am
Forum: Investing - Help with Personal Investments
Topic: Another 401k question
Replies: 11
Views: 491

Re: Another 401k question

If allowed to contribute above the $18,500 level, then normally you would need to fill the pre-tax bucket before contributing any after-tax. In this scenario I would favor the guaranteed 6% match at the cost of not being able to contribute more to the after-tax portion. Look into if you can do a on...
by SRenaeP
Tue Aug 07, 2018 7:54 am
Forum: Investing - Help with Personal Investments
Topic: Another 401k question
Replies: 11
Views: 491

Re: Another 401k question

Hi all, I'm not going to lie, anytime I post a question, y'all have been very helpful. I've tried this question on a couple other forums, but I'm not convinced on any feedback I was given. Anyway, now that I paid off my student debt. I will def max out my 401k. With my plan you are also allowed to ...
by SRenaeP
Tue Aug 07, 2018 7:51 am
Forum: Investing - Help with Personal Investments
Topic: Another 401k question
Replies: 11
Views: 491

Re: Another 401k question

I'm not sure I understand 100% about the situation you're describing. But a few things: 2) Both Pre-tax and Post-tax (Roth) 401K contributions count toward the same $18,500 limit. They are not separate buckets. Some plans allow for a third, after-tax, subaccount. This is what the OP seems to be ref...
by SRenaeP
Fri Aug 03, 2018 9:05 am
Forum: Personal Consumer Issues
Topic: Do You Purchase "Medical Evacuation Insurance" When You Travel?
Replies: 176
Views: 10324

Re: Do You Purchase "Medical Evacuation Insurance" When You Travel?

I see that the cost for 2 persons per one year is around $600! Is that everyone here paying for that kind of coverage? :shock: The cost of travel insurance usually depends upon the cost of the trip, and sometimes the age of the traveler (not always). And it certainly depends upon the *type(s)* of c...
by SRenaeP
Fri Aug 03, 2018 8:56 am
Forum: Personal Consumer Issues
Topic: Do You Purchase "Medical Evacuation Insurance" When You Travel?
Replies: 176
Views: 10324

Re: Do You Purchase "Medical Evacuation Insurance" When You Travel?

Does anyone have any actual experience having to be "medically evacuated"? My former boss's wife (due to illness) had to be flown back from a winter vacation in Colorado to the Washington DC area - by air ambulance. In his case, his employer insurance covered it - but I recall the cot was huge (can...
by SRenaeP
Fri Aug 03, 2018 8:49 am
Forum: Personal Consumer Issues
Topic: Phone Rental for South America?
Replies: 15
Views: 857

Re: Phone Rental for South America?

Most of the time the standard advice is "get a local SIM when you arrive." Problem is that depending on where you are going it's not that simple, especially if you want to have service immediately upon arrival. Presumably, the OP is flying there. In my experiences, most international airports will ...
by SRenaeP
Tue Jul 24, 2018 11:25 am
Forum: Personal Consumer Issues
Topic: Europe travel Qs [Questions]
Replies: 63
Views: 3924

Re: Europe travel Qs [Questions]

One more: We're flying out of St. Louis, via Detroit (Delta. I assume there's a plane change, but am not 100% certain), to Paris. Return is out of Munich, through Atlanta I think, then to St. Louis. So, departing St. Louis, it's domestic to Detroit, then onward. From Munich, it's direct to the USA ...
by SRenaeP
Mon Jul 23, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: I ran out of credit card signups bonus...
Replies: 106
Views: 16948

Re: I ran out of credit card signups bonus...

Really? Thanks. I do have a "small business" (1 rental unit), but I though the tin had to be for the business. If this works, I'm back in churning business. Yup. Wife and I did this one with a rental unit using our names and social. https://www.capitalone.com/small-business/credit-cards/spark-cash/...
by SRenaeP
Mon Jul 23, 2018 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Buying home, how to head off a bidding war.
Replies: 29
Views: 3996

Re: Buying home, how to head off a bidding war.

Last time we bid on a house, we made an offer with an escalation clause, e.g., we will match any documented cash offer or come within $5k of a documented mortgaged offer, but not to exceed $XXX,XXX. Took the emotions out of it and made it so that we weren't bidding against ourselves. We've done thi...