Search found 11 matches

by bballjm
Tue Aug 13, 2019 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (Another One...) and Rent vs Buy decision
Replies: 12
Views: 1379

Re: How much house can we afford (Another One...) and Rent vs Buy decision

Age: 33 ..... Additionally, I run a start-up options trading firm where I can invest alongside and earn the same return the firm earns. It’s a difficult business (see wild fluctuations in my income above) especially when you’re small, but if we end up being successful, there can be exceptional retu...
by bballjm
Tue Aug 13, 2019 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (Another One...) and Rent vs Buy decision
Replies: 12
Views: 1379

Re: How much house can we afford (Another One...) and Rent vs Buy decision

With the huge variation in income due to bonuses I would be a bit more leery of jumping into a large mortgage as other posters have said. I would try to afford a home based on your salaries only (even though I know its hard). You have a pretty large amount of liquid assets. Are you looking to spend...
by bballjm
Tue Aug 13, 2019 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (Another One...) and Rent vs Buy decision
Replies: 12
Views: 1379

Re: How much house can we afford (Another One...) and Rent vs Buy decision

To throw an added layer to this (perhaps a less asked and more interesting question), I’m also seriously considering (probably even leaning) towards renting rather than buying. We’d likely rent a slightly less expensive place, though not drastically so (thinking ~1k of monthly savings compared to a...
by bballjm
Tue Aug 13, 2019 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (Another One...) and Rent vs Buy decision
Replies: 12
Views: 1379

Re: How much house can we afford (Another One...) and Rent vs Buy decision

Your compensations appear to be extremely volatile and high risk and tied to market performance. As such, I would take much less relative risk in other parts of your life. Just my opinion, but I definitely "risk adjust" ESOP holdings and the like. That said, you have healthy incomes and can certain...
by bballjm
Tue Aug 13, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford (Another One...) and Rent vs Buy decision
Replies: 12
Views: 1379

How much house can we afford (Another One...) and Rent vs Buy decision

We live in a fairly HCOL area (not SF or NYC level, but next tier down). We are currently paying $2500/mo in mortgage (incl property taxes) now for a 2BR/2BA. Looking to get a bigger space as our family grows. I’m currently trying to narrow down from $800k-$1.75M purchase price if we were to buy. I ...
by bballjm
Sat Apr 04, 2015 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Very Complex Backdoor Roth IRA Conversion
Replies: 10
Views: 1368

Re: Very Complex Backdoor Roth IRA Conversion

I was under the impression that I had to do steps 1 and 2 (open the solo 401k and roll my SEP over) before contributing my $5500 non-deductible to a traditional IRA in order to avoid the pro-rata rule. If I contribute to the traditional IRA now for 2014 (and then again for 2015) and then roll over ...
by bballjm
Sat Apr 04, 2015 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Very Complex Backdoor Roth IRA Conversion
Replies: 10
Views: 1368

Re: Very Complex Backdoor Roth IRA Conversion

I'm doing the traditional instead of the ROTH because we're above the income limit for any contributions being deductible so need to do the traditional w/ nondeductible contributions to convert to a ROTH... I ended up just doing the 2014 contribution now and will exchange to VBTLX once I make the 20...
by bballjm
Sat Apr 04, 2015 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Very Complex Backdoor Roth IRA Conversion
Replies: 10
Views: 1368

Re: Very Complex Backdoor Roth IRA Conversion

Sorry one other quick question. I am opening my wife's traditional IRA through Vanguard and would ideally invest it in VBTLX to get the lower cost of admiral shares. However, there is a $10k minimum investment and the contribution limit is $5500 for 2014. I would be contributing another $5500 for ta...
by bballjm
Sat Apr 04, 2015 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Very Complex Backdoor Roth IRA Conversion
Replies: 10
Views: 1368

Re: Very Complex Backdoor Roth IRA Conversion

Great thanks guys! One clarifying question: I was under the impression that I had to do steps 1 and 2 (open the solo 401k and roll my SEP over) before contributing my $5500 non-deductible to a traditional IRA in order to avoid the pro-rata rule. If I contribute to the traditional IRA now for 2014 (a...
by bballjm
Fri Apr 03, 2015 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Very Complex Backdoor Roth IRA Conversion
Replies: 10
Views: 1368

Very Complex Backdoor Roth IRA Conversion

First time post, but getting a little confused as I dive into potential to use the 'backdoor ROTH IRA conversion' and was hoping I could get a little clarity. I was beginning to look into filing our taxes for 2014 and came across the backdoor ROTH conversion. I am married filing jointly and our inco...
by bballjm
Tue Nov 02, 2010 12:09 am
Forum: Personal Investments
Topic: SEP conversion to a Roth if you make more than $120k
Replies: 0
Views: 341

SEP conversion to a Roth if you make more than $120k

I am a 24 year old that is new to this forum and was hoping for some help regarding the 2010 conversion rules. At the beginning of 2010, I opened and contributed $5,000 to a Roth IRA. Around May, I realized I was going to be making more than $120k so would not be eligible to contribute to the Roth. ...