Search found 148 matches

by bornloser
Tue Jan 30, 2018 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA to 401k
Replies: 5
Views: 503

Re: Rollover IRA to 401k

Thanks for the replies. I was told by the trustee of the IRA that the 401k plan would issue a 5498 form to the IRS, but if not I guess I will send in an explanation to the IRS on my 2018 taxes explaining the rollover.
by bornloser
Mon Jan 29, 2018 11:14 am
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA to 401k
Replies: 5
Views: 503

Rollover IRA to 401k

Have decided to clean up some IRAs and get them out of IRA status by transferring to my current 401k provider (they accept IRA rollovers). I'm doing this in order to pursue backdoor Roth IRA and simplify Roth conversions later on during retirement (from a 403b and government 457 plan). I have been a...
by bornloser
Thu Jun 15, 2017 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: 529 transfer
Replies: 5
Views: 865

Re: 529 transfer

Both about plan fees and expense ratios. Have finished contributing to my childs 529, receiving a state tax deduction each year I contributed. Now trying to get fees lower since she has 5 years until college and may get scholarships and go to grad school, so this could stretch out for quite a while....
by bornloser
Thu Jun 15, 2017 10:37 am
Forum: Personal Finance (Not Investing)
Topic: 529 transfer
Replies: 5
Views: 865

Re: 529 transfer

Well I was hoping for any input on this, even any input on the pros/cons of the Vanguard 529 plan?
by bornloser
Wed Jun 14, 2017 7:39 am
Forum: Personal Finance (Not Investing)
Topic: 529 transfer
Replies: 5
Views: 865

529 transfer

Finally getting around to the process of transferring 13 y.o. daughters 529 from MS to Vanguard. TIAA CREF runs the program and fees are not horrible, but certainly not as low as the Nevada/Vanguard plan. I am directed to the online Vanguard site to open an account (but the site is down?). MS does n...
by bornloser
Fri Apr 14, 2017 8:24 am
Forum: Personal Consumer Issues
Topic: Hearing aids: has anyone used a CROS hearing aid?
Replies: 18
Views: 2425

Re: Hearing aids: has anyone used a CROS hearing aid?

If you in fact have moderate to severe or greater hearing loss in the one ear, I would investigate cochlear implants. CI technology has greatly improved over the last several years and the indications will continue to increase. Take a look at the facebook Cochlear Implant group and you will be amaze...
by bornloser
Sat Jan 07, 2017 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Doctors and retirement
Replies: 67
Views: 8786

Re: Doctors and retirement

Practicing medicine for about 20 years and surrounded by colleagues with similar income levels, I've seen a number of financial paths taken that include all those mentioned. And I agree with Vencat, to each his own. However, I have witnessed another path that I consider very sad and depressing: the ...
by bornloser
Fri Oct 21, 2016 9:23 am
Forum: Personal Finance (Not Investing)
Topic: When have you given enough?
Replies: 65
Views: 6750

Re: When have you given enough?

My standards for 'financially supportive parent' is: 1. Raise your kid in a healthy and safe environment 2. Pay for his college 3. Support yourself in retirement instead of mooching off your kid If you hit all 3 I don't think there's any reasonable cause for complaint if inheritance is $0. You did ...
by bornloser
Fri Oct 21, 2016 8:34 am
Forum: Personal Finance (Not Investing)
Topic: When have you given enough?
Replies: 65
Views: 6750

Re: When have you given enough?

Good topic and enjoyed reading the personal experiences with how to handle this. My wife and I came from very modest financial backgrounds and have worked our tails off to get to a place where we could retire early mid/late 50s. All 3 kids have college completely paid for and one slightly used car f...
by bornloser
Fri Dec 19, 2014 3:10 pm
Forum: Personal Consumer Issues
Topic: Denver area ski in/out lodging?
Replies: 22
Views: 2144

Re: Denver area ski in/out lodging?

I have planned many ski trips and rarely been to the same area twice, so a new adventure each time and a lot of work and stress. I always made sure our location was within 50-100 yard of a lift that had "friendly" runs for all. Each time I planned a ski trip it was a ton of work, checking and rechec...
by bornloser
Mon Dec 15, 2014 5:37 am
Forum: Personal Consumer Issues
Topic: Oregon wine tour
Replies: 5
Views: 892

Re: Oregon wine tour

Thanks for the input. Didn't realize there were so many options. Wife is excited but says we may have to take our girls (10 and 18), so that may change things up a bit.
by bornloser
Sun Dec 14, 2014 11:34 am
Forum: Personal Consumer Issues
Topic: Oregon wine tour
Replies: 5
Views: 892

Oregon wine tour

Live in the southeast U.S., spouse and I enjoy wine but for the record I have a cave-man palate. Would like to plan a low stress, no fru fru wine tour trip for the two of us. Would appreciate any thoughts, ideas and personal experience with this.
by bornloser
Mon Sep 29, 2014 10:06 am
Forum: Personal Finance (Not Investing)
Topic: startup 401k
Replies: 4
Views: 447

Re: startup 401k

This is in regard to termination of employment, not an in service withdrawal. When I called Employee Fiduciary, they inferred that most choose a lump sum as the only option...but I didn't bring up the Roth conversation pathway with them. Thanks.
by bornloser
Mon Sep 29, 2014 7:27 am
Forum: Personal Finance (Not Investing)
Topic: startup 401k
Replies: 4
Views: 447

startup 401k

Filling out the forms for our small business 401k startup, I am asked Will the lump sum form of distribution be the plan’s sole form of distribution?  No  Yes If no, optional forms available:  Partial payments  Installments Wouldn’t I want to choose “No” and “Partial Payments” options if I wante...
by bornloser
Sat Sep 06, 2014 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Trying to get my company to switch to Vanguard 401(k)
Replies: 24
Views: 3497

Re: Trying to get my company to switch to Vanguard 401(k)

+1 on Alskars post. I can soooo identify with your frustration. I have recently concluded a very lengthy investigation of our small company (around 10 persons) 401k fees and convinced our company to go with Employee Fiduciary out of Mobile, AL. They are a very low cost TPA (like Ascensius), very tra...
by bornloser
Sat Sep 06, 2014 9:26 am
Forum: Investing - Theory, News & General
Topic: Peter Lynch was wrong
Replies: 64
Views: 8905

Re: Peter Lynch was wrong

Peter Lynch obviously bright guy. Loads of Ivy League graduates in the finance industry, many of them working with actively managed funds...obviously all bright people. But if they were all flipping coins surely some would flip heads multiple times in a row. I'm not suggesting that Lynch's run with ...
by bornloser
Wed Sep 03, 2014 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Help Please: Retirement plan vs. Higher Salary
Replies: 35
Views: 4393

Re: Help Please: Retirement plan vs. Higher Salary

Congratulations on the good job offer. Although the debt scares the bejeebies out of me (and should you too), I would choose the money purchase plan AND keep expenses low for the first several years and get that debt monkey off your back. I have some experience with MP pension plans since I have con...
by bornloser
Mon Aug 25, 2014 4:22 am
Forum: Personal Finance (Not Investing)
Topic: S corp and HSA
Replies: 1
Views: 673

Re: S corp and HSA

Well I'm going to call our CPA today. Was hoping some of the accountants are those who own an S corporation would weigh in on this.
by bornloser
Sun Aug 24, 2014 8:56 am
Forum: Personal Finance (Not Investing)
Topic: S corp and HSA
Replies: 1
Views: 673

S corp and HSA

Small physician group with S corporation. Own more than 2% of business. We get W-2s and dividends from the S corp. Would like to utilize an HSA and I understand that we cannot use the administration fees as a business expense and we each have to use the deduction on our individual 1040 returns. We a...
by bornloser
Wed Aug 20, 2014 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: 401k small business...help me
Replies: 0
Views: 387

401k small business...help me

The continuing saga of converting my small physician group from a money purchase plan to low cost 401k plan. After another meeting tonight interviewing Edward Jones (boo, hiss), I'm about 99% sure the group is going to vote to go with Employee Fiduciary, probably not using a separate advisor, just c...
by bornloser
Mon Aug 04, 2014 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Wife's 403(b)
Replies: 12
Views: 1094

Re: Wife's 403(b)

403b to IRA conversions are easy, but I've always already had accounts at Vanguard when I did this and I have done this for several 403 accounts for me and my wife as well. Bear in mind you don't have to convert to an IRA. If the fees are low, it's probably okay to leave it at TRP. I would also look...
by bornloser
Mon Aug 04, 2014 9:17 am
Forum: Personal Finance (Not Investing)
Topic: How many families use 529 plans?
Replies: 113
Views: 11648

Re: How many families use 529 plans?

Sorry for interjecting the controversial note. You are probably correct in that kids probably don't need any financial help after age 18 for college. And I agree that many persons have been launched successfully in the US after economic boom after WWII without parental help, so certainly they can do...
by bornloser
Mon Aug 04, 2014 7:12 am
Forum: Personal Finance (Not Investing)
Topic: How many families use 529 plans?
Replies: 113
Views: 11648

Re: How many families use 529 plans?

This thread is making me twitch. When your kids are young, you think you have all the time in the world to save for college. You read threads like this, Suze Orman, Dave Ramsey, etc. and agree with everyone who writes that you can't take out a loan to pay for retirement. Believe me, I get it. I dra...
by bornloser
Fri Jul 25, 2014 8:24 am
Forum: Personal Finance (Not Investing)
Topic: 401k website evaluation
Replies: 5
Views: 493

401k website evaluation

Do most 401k plans have a website that allows electronic transactions (purchases, rebalancing, withdrawals)? Our current vendor has the worst website on the planet, basically just a site that shows what your balance is. My small business thinks that this is the "norm". Thanks.
by bornloser
Thu Jul 24, 2014 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: [Employee Fiduciary] Question
Replies: 10
Views: 1562

Re: [Employee Fiduciary] Question

Well you guys probably know I'm in the midst of trying to convince my partners in a 7-10 person group to use EF. Not going as smooth as I would like. I've talked to EF and they are really on top of their game. Some of my partners however think the local bank is their "friend" and like that they have...
by bornloser
Thu Jul 17, 2014 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Small business 401k blues
Replies: 6
Views: 979

Re: Small business 401k blues

Thanks ERISA Stone. I'll check out the website. Money Purchase plans were sort of an odd bird retirement plans go and I have been told that the plan has to be terminated (if not directly converted to a 401k) although this came from Employee Fiduciary and not an ERISA attorney. Our fees in the MP pla...
by bornloser
Thu Jul 17, 2014 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Small business 401k blues
Replies: 6
Views: 979

Re: Small business 401k blues

Thanks for the input. Part of the problem with keeping the heirs in the plan is that we currently pay ALL fees for the plan individually from our tax sheltered monies (yes, I know this royally sucks) and we want to pay for the plan expenses separately and therefore get a business tax deduction. We d...
by bornloser
Wed Jul 16, 2014 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Small business 401k blues
Replies: 6
Views: 979

Small business 401k blues

This is my third post regarding leaving our small business high fee Money Purchase retirement plan and starting a low cost 401k. Thanks for bearing with me. Apparently Money Purchase plans always have a default surviving spouse/beneficiary annuity unless you sign a waiver. Most of my business partne...
by bornloser
Tue Jul 15, 2014 4:09 am
Forum: Personal Finance (Not Investing)
Topic: Bright Scope 401k fees
Replies: 12
Views: 1519

Re: Bright Scope 401k fees

Thanks so much for the replies. We are a small physician group with 7 highly compensated persons and 10 active participants in the plan. ERISA Stone thanks for the heads up on the freeerisa site. I was able to get the 2011 data for our MP retirement plan and under the same category "8.f Administrati...
by bornloser
Mon Jul 14, 2014 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Bright Scope 401k fees
Replies: 12
Views: 1519

Re: Bright Scope 401k fees

Thanks ERISA (like that name!) for the reply. In a previous post I explained that I am trying to get my small businsess group (only 10 in the retirement plan) to convert our Money Purchase plan to a low cost provider 401k plan. I am using Bright Scope to double check the numbers given me by our curr...
by bornloser
Mon Jul 14, 2014 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Bright Scope 401k fees
Replies: 12
Views: 1519

Bright Scope 401k fees

Does anyone have any experience with discerning the info on form 5500 for a 401k plan. When I look up our plan 5500 form for 2012 using Bright Scope I get a 40k number under the "Expense" category for "Administrative Service Providers". I assume this is the total we paid in fees(?) for the year. I h...
by bornloser
Sun Jul 13, 2014 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Money Purchase to 401k
Replies: 5
Views: 1020

Re: Money Purchase to 401k

Thanks for the input. I will use this input for the upcoming meeting. And I probably will ask for a discount on the fees proposed by the our current 401k fiduiciary.
by bornloser
Sat Jul 12, 2014 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: Money Purchase to 401k
Replies: 5
Views: 1020

Re: Money Purchase to 401k

Good points. Let me clarify that the persons over 50 ARE interested in the 50+ catch up after I explained the savings benefit via the top tier of taxes. And the other partners care about 19k, just not to the degree that I do. I can't tell you the number of times that comments along the lines of "wel...
by bornloser
Sat Jul 12, 2014 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Money Purchase to 401k
Replies: 5
Views: 1020

Money Purchase to 401k

Have arranged our Money Purchase fiduciary which is a regional bank to meet with our small business group consisting of 6-9 highly compensated persons in order to explain the fees involved in converting to a 401k plan and then the ongoing yearly fees for the plan. The main purpose of this retirement...
by bornloser
Tue May 27, 2014 10:16 am
Forum: Personal Finance (Not Investing)
Topic: The in-laws are broke!
Replies: 128
Views: 19749

Re: The in-laws are broke!

Want to thank RunningRad for having the courage to bring up a difficult topic that is all too common and hits home for me and my situation with my aging parent. I usually read all the posts on this recurring topic and this has helped me tremendously. As the OP originally stated, all situations are u...
by bornloser
Fri May 09, 2014 10:56 am
Forum: Personal Consumer Issues
Topic: Unethical Dentist? Advice please!
Replies: 42
Views: 3907

Re: Unethical Dentist? Advice please!

Oh boy, this a real bug-a-boo of a topic. After reading the original post again, I completely agree with your decision to find another dentist. In regards to contacting the state dental board, I would at least find out what it involves and weigh all the options. I have been a physician for 20 plus y...
by bornloser
Mon Apr 28, 2014 12:15 pm
Forum: Investing - Theory, News & General
Topic: Why will stocks/bonds do worse than in the past?
Replies: 30
Views: 6271

Re: Why will stocks/bonds do worse than in the past?

Good post. I have noticed the new mantra of "returns will be lower going forward" essentially stated as an unquestionable truth, carved in a stone tablet. What effect does international equity holdings have on this? Does this have any effect on inflation (ie is inflation going to be lower going forw...
by bornloser
Thu Apr 17, 2014 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: The slackening...
Replies: 61
Views: 9541

Re: The slackening...

Have been reading these posts with interest. Great points on generational differences and the importance of life experiences to learn how to handle failure and hopefully motivate. As a very involved parent of 3 (the baby is adopted), I would add the unpredictable role of genetics. I think we tend to...
by bornloser
Sat Apr 05, 2014 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Minimizing Taxes
Replies: 17
Views: 1522

Re: Minimizing Taxes

You are doing all I know to do to minimize taxes. As employees, the option of sheltering more monies in tax deferred vehicle such as a cash balance plan are not available. And I'm not sure even if you itemized on schedule A how much better off (versus standard deduction) you would be since there is ...
by bornloser
Fri Mar 21, 2014 8:19 am
Forum: Investing - Help with Personal Investments
Topic: AA/retirement questions
Replies: 11
Views: 1596

Re: AA/retirement questions

Welcome kyradbiker. I read thru your post and replies with interest. Please correct me if I'm wrong with these assumptions. You are a Radiologist in Kentucky and keenly feel the direct effect of a medical field going down the crapper. Declining reimbursement, declining respect, commoditization of th...
by bornloser
Thu Mar 20, 2014 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Children: Are they worth every penny?
Replies: 68
Views: 6726

Re: Children: Are they worth every penny?

My understanding of this forum is that actionable posts are desirable and the subjects can include most things that affect personal finances. And I am amazed at how this awesome forum gives such detail and attention to subjects like student loans, investments, home mortgages...but somehow believe ha...
by bornloser
Wed Mar 19, 2014 11:15 am
Forum: Investing - Help with Personal Investments
Topic: Sibling is a Financial Adviser, ask investing advice?
Replies: 30
Views: 2776

Re: Sibling is a Financial Adviser, ask investing advice?

This is definitely dangerous territory if you want to preserve a good relationship with your sister. The pitfalls are many and the advantages are few] I could not put it any better than this. I think you have a lot to lose in terms of your relationship with your sister and future family dynamics by...
by bornloser
Tue Mar 18, 2014 4:40 pm
Forum: Investing - Help with Personal Investments
Topic: Single Income Family with 4 Children (so far)
Replies: 69
Views: 6556

Re: Single Income Family with 4 Children (so far)

Good advice on term life insurance and disability. The insurance proceeds are tax free and that's something else to consider. I'm going to touch on another aspect of your post. I am part of a somewhat of small group of persons with three kids (ages 21 to 9). As a parent of FOUR children, you are an ...
by bornloser
Sun Mar 09, 2014 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire yet?
Replies: 85
Views: 9771

Re: Can I retire yet?

Have been following this thread with interest. Kudos to Sinbad for the awesome earned accumulation of assets. I would have to second the recommendation of taking the naysayers with a grain of salt since this forum skews to the conservative, sometimes ridiculously so (you did save extra money to plan...
by bornloser
Wed Feb 26, 2014 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Do we have enough to retire?
Replies: 108
Views: 22289

Re: Do we have enough to retire?

Didn't realize this was a revived post. Anyway MnDs post is spot on and should receive an award for superb sarcasm. A couple of things jump out at me with the OPs situation: 1. He's a physician. Physicians have a much better idea of medical costs, how to avoid all the unnecessary tests and upsells i...
by bornloser
Tue Feb 25, 2014 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Questions - Daughter in Medical School
Replies: 9
Views: 1176

Re: Tax Questions - Daughter in Medical School

Can you pay for rent and whatever you need to and claim her as a dependent and get the tax deduction (why wouldn't you claim this exemption if you can)?
by bornloser
Fri Feb 14, 2014 5:59 am
Forum: Personal Finance (Not Investing)
Topic: 403b to 403b transfer question
Replies: 6
Views: 618

Re: 403b to 403b transfer question

Thanks for the input. Looks like I'm stuck for now. Currently have a 401k that is no better than Am Century in regards to ER. I have toyed with the idea of finding a sole proprietor gig after I leave my current employment just to open a Vanguard 401k and transfer my entire old 401k there.
by bornloser
Wed Feb 12, 2014 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: 403b to 403b transfer question
Replies: 6
Views: 618

403b to 403b transfer question

I have some monies in a 403b American Century account from many years prior work at an educational institutuion. I would like to streamline as much as possible to Vanguard but I currently to back door Roth IRAs yearly, so I don't want to convert to this 403b to a Vanguard IRA (which would be simple)...
by bornloser
Wed Feb 12, 2014 11:45 am
Forum: Personal Finance (Not Investing)
Topic: What to do when a parent's money runs out?
Replies: 218
Views: 33342

Re: What to do when a parent's money runs out?

I can identify and I empathize with this difficult decision. Family and finances can be a messy situation. Woke up this morning worrying about my situation with my mother (widow). It has been helpful for me to read all the posts and helpful recommendations because our family is dealing with the same...
by bornloser
Sat Feb 01, 2014 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: Resident physician wanting to get started
Replies: 15
Views: 2361

Re: Resident physician wanting to get started

Welcome. Please take the following statement as a constructive observation: As a 32 yo with no assets and a significant student loan burden you are way, way behind the 8ball compared to all your friends that graduated with meaty degrees at age 22 (engineers, accountants, etc.) who have no or minimal...