Search found 31 matches
- Mon Mar 18, 2013 6:52 am
- Forum: Personal Finance (Not Investing)
- Topic: Roth Recharacterization to Backdoor Roth
- Replies: 2
- Views: 507
Re: Roth Recharacterization to Backdoor Roth
That was it. I had a contribution for both a traditional and Roth IRA. I'm no longer getting that message. Thanks again Alan S.!
- Sun Mar 17, 2013 7:47 pm
- Forum: Personal Finance (Not Investing)
- Topic: Roth Recharacterization to Backdoor Roth
- Replies: 2
- Views: 507
Roth Recharacterization to Backdoor Roth
Sorry to beat a dead horse, but I'm having a great deal of trouble with Turbo Tax and my backdoor Roth for 2012. The problem is that before I performed the Backdoor contribution for my wife for 2012, I had initially contributed to a Roth directly. I realized midway through the year that we would be above the MAGI limits for a direct contribution. I recharacterized the Roth contribution to a traditional contribution in August, then waited a week or two, and finally performed the Backdoor Roth contribution. I've searched other threads and found some useful info, and I've looked at tfb's complete how-to on this issue, but I'm still getting this message from TT saying I owe a penalty: "You Currently Have a Penalty Because XXXX made an exce...
- Mon Jan 28, 2013 9:27 pm
- Forum: US Chapters
- Topic: Anyone in the New Orleans area?
- Replies: 39
- Views: 16648
Re: Anyone in the New Orleans area?
I'm on the Northshore in Mandeville, and I'd try my hardest to make it if we got something together.
- Tue Jan 01, 2013 3:20 pm
- Forum: Investing - Theory, News & General
- Topic: 2013 BOGLEHEAD CONTEST REGISTRATION
- Replies: 481
- Views: 37369
- Tue Dec 25, 2012 8:40 am
- Forum: Personal Consumer Issues
- Topic: best wrinkle-free shirts
- Replies: 39
- Views: 9422
Re: best wrinkle-free shirts
Brooks Brothers Semi-Annual Sale starts today and ends January 3. FYI.
- Sun Oct 07, 2012 12:04 am
- Forum: Personal Finance (Not Investing)
- Topic: 529 Savings Plan Beneficiary Tax Considerations
- Replies: 4
- Views: 645
Re: 529 Savings Plan Beneficiary Tax Considerations
Thanks for the quick response. I was not aware of any tax problems, but I didn't have any text on hand to clearly make a point. Thanks for the links, I'll be reading over them thoroughly.
- Sat Oct 06, 2012 11:47 pm
- Forum: Personal Finance (Not Investing)
- Topic: 529 Savings Plan Beneficiary Tax Considerations
- Replies: 4
- Views: 645
529 Savings Plan Beneficiary Tax Considerations
Hi, My wife and I have a young nephew that just turned 1 year old. If his parents pass away, we are designated in the will to become his legal guardians. We are fully funding our retirement (401ks and Roth IRAs maxed), and I thought it might be a good idea to open a Louisiana 529 Savings Plan in the unlikely event that we become responsible for the child. We would get a state income tax deduction of about $400, and if we have kids later on we can change the beneficiary to one of our own. Opening an account now would just allow another few years of compounding. When I brought this plan up to our nephew's parents, they were concerned about tax considerations if we were to change the beneficiary since the amount saved is considered part of the...
- Tue Aug 21, 2012 3:21 pm
- Forum: Personal Consumer Issues
- Topic: Do You Haggle? If so: when, for what, how?
- Replies: 94
- Views: 13567
Re: Do You Haggle? If so: when, for what, how?
I'm not very good at haggling, but the only success I've had was with the cable company. I told them I was looking to drop them for another provider and instantly they knocked off $30 per month.
I don't think I'll try haggling for discounts on clothes. I dislike the experience enough as it is, without involving the manager. I'll just go during a sale or with a coupon.
-Matt
I don't think I'll try haggling for discounts on clothes. I dislike the experience enough as it is, without involving the manager. I'll just go during a sale or with a coupon.
-Matt
- Mon Aug 20, 2012 12:56 pm
- Forum: Personal Consumer Issues
- Topic: Europe Trip Recommendations
- Replies: 23
- Views: 4225
Re: Europe Trip Recommendations
My wife and I visited Switzerland and Italy for 2 weeks in April. Our favorite day in Switzerland was spent visiting Ballenburg, an open-air museum featuring houses and artifacts from every region of the country. We spent the entire day hiking around, viewing cheese-making or other traditional crafts and taking in the beautiful scenery. The museum was very large - several acres - but with your wife being pregnant, you could choose how much of the museum you wish to see. They also have a shuttle (a horse-drawn carriage) that can take you around if you don't want to walk. In Italy we had a blast kayaking on Lake Como one morning and spending the rest of the day driving around the countryside. I never felt unsafe on the roads there. At least n...
- Mon Aug 13, 2012 10:58 pm
- Forum: Personal Consumer Issues
- Topic: Attitudes about success, money, etc
- Replies: 30
- Views: 4362
Re: Attitudes about success, money, etc
The author seems like a spoiled brat and reminds of a whole slew of people who I frankly can't stand. Every column of hers has this tone. She continually criticizes, in a seemingly polite and respectful manner, how her husband approaches money. He takes a deliberate, responsible, patient approach every step of the way -- and she hammers him for it. I read her columns when I come across them, because they're well-written and because I seek out insight into those who think differently than I do. But it's maddening because she is emblematic of the masses of people who just don't understand money -- and she has the writing skill to reassure them that they do, with the tightwads out there being obstacles to overcome. Every column seems to end w...
- Mon Aug 13, 2012 8:12 pm
- Forum: Personal Investments
- Topic: Oil Well Investing - Anyone dabble in this?
- Replies: 41
- Views: 5399
Re: Oil Well Investing - Anyone dabble in this?
+1 All the way.ourbrooks wrote: The post by seattleCPA may have hit the nail on the head; the revenue quotes are based on initial production which may decline substantially in a year. The owners are trying to dump the wells now, while the production figures look good.
I work in the oilfield and have seen professional engineers fail to realize how much higher the initial numbers are than the eventual yearly production, resulting in very optimistic forecasts.
I'd stay out of this "opportunity" and stick with index funds.
- Fri Aug 10, 2012 8:07 pm
- Forum: Personal Investments
- Topic: Order of Investing to Follow
- Replies: 16
- Views: 1926
Re: Order of Investing to Follow
Thank you!Xanadu wrote:http://www.bogleheads.org/forum/viewtopic.php?t=52394madef88 wrote:
I've recently read other threads that discussed when it was ok to borrow from a 401k plan. The majority of scenarios in which it was okay involved emergency situations. What is the rationale for borrowing to fund the 529 plan? Just wondering if it would be advantageous for many folks or just in special situations.
Matt
- Fri Aug 10, 2012 7:17 pm
- Forum: Personal Investments
- Topic: Order of Investing to Follow
- Replies: 16
- Views: 1926
Re: Order of Investing to Follow
I've recently read other threads that discussed when it was ok to borrow from a 401k plan. The majority of scenarios in which it was okay involved emergency situations. What is the rationale for borrowing to fund the 529 plan? Just wondering if it would be advantageous for many folks or just in special situations.livesoft wrote:There is no rule of thumb because everybody is different. There has been a purported rule of thumb expressed on this forum, but it is usually shot down.
What we do:
Maximize our 401(k) contributions.
Maximize our HSA contributions.
Maximize our Roth contributions.
Maximize our joint account contributions.
Borrow from 401(k) to invest in 529 plans.
Live paycheck to paycheck.
Beware of consensus.
Matt
- Fri Aug 10, 2012 7:11 pm
- Forum: Personal Investments
- Topic: Poll: When did you 1st learn about a Roth IRA?
- Replies: 54
- Views: 8882
Re: Poll: When did you 1st learn about a Roth IRA?
^^^I love the humor and sarcasm on this forum as well as the advice!pkcrafter wrote:I learned about Roths yesterday from thedev.
I guess you are saying the person you know didn't know about Roths, but what's even more incredible is the advisor did not inform him!
Paul
Some of us were in grade school in 1997! Luckily my father advised me on opening a Roth IRA once I started working in high school in 2004.
Matt
- Sun Jul 08, 2012 1:02 am
- Forum: Personal Consumer Issues
- Topic: I want an Airstream!
- Replies: 70
- Views: 17574
Re: I want an Airstream!
Ditto thatmhc wrote:RetiredJG,
if you take off on the road for a year or two, I hope you stay connected so that you can continue to give excellent advise on this forum.
- Sun Jul 08, 2012 12:54 am
- Forum: Personal Finance (Not Investing)
- Topic: What retirement contributions does your employer offer?
- Replies: 68
- Views: 10006
Re: What retirement contributions does your employer offer?
Employer (Private) contributes 4% of gross salary if I contribute 1%, 8% if I contribute 2%.
- Sat Jul 07, 2012 7:12 pm
- Forum: Personal Investments
- Topic: After Tax 401k: Fairmark Strategy #3 Guidance
- Replies: 10
- Views: 1948
Re: After Tax 401k: Fairmark Strategy #3 Guidance
That's a great plan. I'm sure it will go well. Thanks again for the help!
- Sat Jul 07, 2012 6:01 pm
- Forum: Personal Investments
- Topic: After Tax 401k: Fairmark Strategy #3 Guidance
- Replies: 10
- Views: 1948
Re: After Tax 401k: Fairmark Strategy #3 Guidance
:oops: Sorry. I saw that and then promptly forgot it when I got into the meat of your post. Have you been able to make any progress? I've made some progress with the 401ks but I'm still working up the courage to close my Edward Jones account. It's top priority once I get home from my 2 week work rotation. The advisor is a close family friend I've known most of my life, and isn't responsible for most of the choices in that account. When I started digging through old files I found out that some of the funds were from a UGMA(?) in my name from deceased relatives. His advice was actually pretty sensible when held up to Boglehead standards (live below your means, save as much as possible, etc.), but now that I want to simplify things, I know th...
- Fri Jul 06, 2012 11:27 pm
- Forum: Personal Investments
- Topic: After Tax 401k: Fairmark Strategy #3 Guidance
- Replies: 10
- Views: 1948
Re: After Tax 401k: Fairmark Strategy #3 Guidance
Alan S.,
Thanks for the helpful advice. Yes, my in-service withdrawals are limited to after-tax contributions, and HCE rules don't apply to me yet.
I understand that I don't necessarily need to employ strategy #3, but do the Roth IRA MAGI limits apply to direct rollovers from a 401k?
retiredjg,
Thanks for the help. I understand that my portfolio was a mess, so I posted the topic which was linked in the original post.
Thanks for the helpful advice. Yes, my in-service withdrawals are limited to after-tax contributions, and HCE rules don't apply to me yet.
I understand that I don't necessarily need to employ strategy #3, but do the Roth IRA MAGI limits apply to direct rollovers from a 401k?
retiredjg,
Thanks for the help. I understand that my portfolio was a mess, so I posted the topic which was linked in the original post.
- Fri Jul 06, 2012 7:48 pm
- Forum: Personal Investments
- Topic: After Tax 401k: Fairmark Strategy #3 Guidance
- Replies: 10
- Views: 1948
After Tax 401k: Fairmark Strategy #3 Guidance
Thank you all for your past replies and future responses. I recently posted about reconstructing my portfolio to a simple, 3-Fund approach: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=98236. I included the info again to comply with the posting format. However, I stumbled upon a thread regarding after-tax 401k contributions: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=99005 It seems just as I come up with a path, I discover new information on the forum that could really be beneficial, but now I may have to alter my plan! I read my company's 401k plan in detail and it meets the qualifications (see below) to use the Fairmark Strategy #3: http://www.fairmark.com/rothira/09030801-401k-basis.htm This would allow the wife a...
- Thu Jul 05, 2012 4:04 am
- Forum: Personal Investments
- Topic: After-Tax 401k
- Replies: 31
- Views: 2675
Re: After-Tax 401k
MEAT,
Please keep posting your progress with this. I just found out I was eligible to take in-service withdrawals and perhaps take advantage of Strategy #3 as well. I hope you succeed in your efforts!
Matt
Please keep posting your progress with this. I just found out I was eligible to take in-service withdrawals and perhaps take advantage of Strategy #3 as well. I hope you succeed in your efforts!
Matt
- Wed Jul 04, 2012 1:24 am
- Forum: Personal Investments
- Topic: Help me Please! I'm kinda screwed!
- Replies: 4
- Views: 2017
Re: Help me Please! I'm kinda screwed!
livesoft - the last one made me lollivesoft wrote:Traditional IRA
Back door Roth.
I-bonds at Treasury Direct
529 plans
FSA
HSA
Hubby invests in bonds in 401(k) while you invest tax-efficiently in your taxable account
New job
Divorce
OP - Try reading just about any info on this site. The wiki is a great place to start.
- Fri Jun 22, 2012 7:59 am
- Forum: Personal Consumer Issues
- Topic: Cost of Sports Events
- Replies: 54
- Views: 4338
Re: Cost of Sports Events
Of course it is a matter of personal preference. Some of my best memories involve attending baseball games with friends and family, and I could easily justify purchasing season tickets for the Texas Rangers because I enjoy the experience of attending the games and cheering on the team I've supported since I could form memories.
A recent thread brought up many similar points of view about several hobbies:
http://www.bogleheads.org/forum/viewtop ... 7&start=50
I would never pay $1 for golf because I have no interest whatsoever, but I could easily drop $1000 for baseball. Perhaps this is the "personal" part of Personal Finance
Matt
A recent thread brought up many similar points of view about several hobbies:
http://www.bogleheads.org/forum/viewtop ... 7&start=50
I would never pay $1 for golf because I have no interest whatsoever, but I could easily drop $1000 for baseball. Perhaps this is the "personal" part of Personal Finance
Matt
- Wed Jun 20, 2012 12:55 pm
- Forum: Personal Consumer Issues
- Topic: Anyone everuse Angie's List?
- Replies: 19
- Views: 2540
Re: Anyone everuse Angie's List?
If you're considering joining Angie's List occasionally Groupon will run a discounted membership coupon. With the coupon a yearly subscription was just $8. There were other discounts I had found before I took the Groupon offer, so look around and don't pay the listed price.
Matt
Matt
- Wed Jun 20, 2012 8:26 am
- Forum: Personal Investments
- Topic: Portfolio is a Mess, Need Rebalancing Advice
- Replies: 18
- Views: 2187
Re: Portfolio is a Mess, Need Rebalancing Advice
With such a low interest rate, I would have thought that it is better to invest the money in a taxable account rather than pay off the mortgage. Could you please explain your reasoning in more detail?bdpb wrote:Sell your taxable accounts and pay down your mortgage. Ten year Treasuries yield only 1.6%. Why invest in bonds
at all if you are paying 3.25% interest on a loan? In addition, by selling the taxable you will save on the annual taxes
on the QD.
For additional tax advantaged savings (before taxable investing), check both 401k for after-tax contribution
and in-service withdrawal/rollover to Roth/401k options.
Thanks for all the replies! It looks like I have quite a bit of research to do regarding our taxable accounts
- Tue Jun 19, 2012 7:26 am
- Forum: Personal Investments
- Topic: Portfolio is a Mess, Need Rebalancing Advice
- Replies: 18
- Views: 2187
Re: My Portfolio is Messy, Need Help Rebalancing
I edited my original post, thanks for pointing that out. 30 was just an age I pulled out the air really. I mean to stay in stocks for quite a while. Perhaps by 40-45 I'll start shifting to a more conservative AA.Aptenodytes wrote:Your AA strategy doesn't quite sit right for me. You want to stick with 90% socks just for 5-6 years. That seems too short. If it were me I'd calculate where I want to be at age 30 and then start out at that level now. Otherwise you are facing the possibility of a big loss or a big capital gains hit at age 30 for no compelling reason.
- Tue Jun 19, 2012 3:01 am
- Forum: Personal Investments
- Topic: Portfolio is a Mess, Need Rebalancing Advice
- Replies: 18
- Views: 2187
Portfolio is a Mess, Need Rebalancing Advice
I’m looking to consolidate all of our holdings into a simple 3 fund portfolio. I would like to have one place where I can view and take care of everything – Vanguard. We have investments all over the place, some that are gifts from family (taxable accounts) that were to be used for college and some were purchases of mine that I had no business buying but did so before I discovered this site (mainly 401k which is why there are so many funds) . Now that I’ve started investing smarter, I want to clean my portfolio up and put it on auto-pilot to be rebalanced once a year. Thanks for all the help in advance! • Emergency funds = 6 months of expenses • Debt - Mortgage: $181,694, 14 yrs remaining @ 3.25% Interest Rate; $45k equity in house. Paymen...
- Mon Jun 18, 2012 8:27 pm
- Forum: Personal Consumer Issues
- Topic: DIY Home Improvement Economics
- Replies: 12
- Views: 2295
Re: DIY Home Improvement Economics
Thanks for all the helpful responses!
tadamsmar - I try my best to keep the home well maintained, but I need to make sure the house is sealed properly and I'll check the exterior caulking. Thanks for the recommendations.
dratkinson - That was exactly what I was looking for. Thank you.
tadamsmar - I try my best to keep the home well maintained, but I need to make sure the house is sealed properly and I'll check the exterior caulking. Thanks for the recommendations.
dratkinson - That was exactly what I was looking for. Thank you.
- Fri Jun 15, 2012 1:45 am
- Forum: Personal Consumer Issues
- Topic: DIY Home Improvement Economics
- Replies: 12
- Views: 2295
DIY Home Improvement Economics
I'm a young homeowner that is interested in tackling some home improvement projects around my house. I have a short list, but I'm looking to add to the queue. I work a unique schedule that gives me 2 weeks off at a time - 14 days at work, 14 days off - and I'm usually looking for things to do while my wife is at work and on weekends sometimes. I've considered re-tiling floors, painting, re-carpeting, powerwashing the house/driveway (I read the recent discussion thoroughly), installing new cabinets, completely renovating the master bathroom, but I don't want to limit the discussion to just those topics. I also have a friend who works the same schedule as me who can help for bigger projects. My questions are: 1.) Which projects have the bigge...
- Wed Apr 18, 2012 11:18 pm
- Forum: Personal Investments
- Topic: Investing Above Roth IRA Income Limit
- Replies: 3
- Views: 1538
Re: Investing Above Roth IRA Income Limit
Thanks!
That answers my question exactly . I'll try reduce my MAGI and save the use of a Backdoor IRA for the future.
That answers my question exactly . I'll try reduce my MAGI and save the use of a Backdoor IRA for the future.
- Tue Apr 17, 2012 10:34 pm
- Forum: Personal Investments
- Topic: Investing Above Roth IRA Income Limit
- Replies: 3
- Views: 1538
Investing Above Roth IRA Income Limit
This is my first post after discovering this website from reading The Bogleheads' Guide to Investing - what a great website! My question is what to invest in once you no longer can contribute to a Roth IRA due to income limitations? If there are advantages in certain investments due to tax reasons, could you explain in detail, as I need to become more familiar with tax regulations/terminology and don't fully understand the rules. Thanks so much! Background: My wife and I are 24 and most likely this year we will no longer be able to contribute to our Roth IRAs because our AGI will be most likely be above $179,000. We have no debts but a 15-yr mortgage for which we pay ~$1300/mo. Our goal is a very early retirement so we can travel the world....