Search found 208 matches

by inittowinit
Sat Mar 16, 2024 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: The best game-changing financial advice you ever received (or "discovered")
Replies: 120
Views: 11103

Re: The best game-changing financial advice you ever received (or "discovered")

rage_phish wrote: Thu Mar 14, 2024 9:53 pm Don’t lend college friends money to flip ounces of weed
I also learned this one the hard way 😶‍🌫️
by inittowinit
Tue Mar 05, 2024 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Financial coach as a side hustle?
Replies: 22
Views: 2214

Re: Financial coach as a side hustle?

physics911 wrote: Mon Mar 04, 2024 11:57 am I'm formalizing my curriculum and getting a website up, but it will remain free seminars.
Please post it here when you do!
by inittowinit
Mon Mar 04, 2024 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Financial coach as a side hustle?
Replies: 22
Views: 2214

Re: Financial coach as a side hustle?

I am a non-practicing CFP who has also considered and even dabbled in this space. The challenge is that if you want to charge for financial advice and have more than a de minimis number of clients per year (eg, 5), you need to register as an RIA which is a lot of startup paperwork and ongoing compliance requirements. I think you'd also want E+O insurance. If you can find ways to avoid talking about investments you might be able to get away with not registering, but in many states just the fact of being a CFP means the regulators presume any financial "coaching" you do meets the minimum threshold to qualify as regulated "financial advice." So, long story short, it's pretty challenging to do for-profit financial advising a...
by inittowinit
Fri Nov 17, 2023 3:20 pm
Forum: Investing - Theory, News & General
Topic: Paul Merriman on small cap value tilt
Replies: 120
Views: 18835

Re: Paul Merriman on small cap value tilt

steadyosmosis wrote: Mon Oct 23, 2023 7:28 pm I did SCV tilt for years.
Later discovered I didn't need it.
Not worth the hassle, so I simplified.
Less to worry about.
Ditto. Life’s much more straightforward sans tilt.
by inittowinit
Tue Nov 14, 2023 3:04 pm
Forum: Personal Investments
Topic: Finding the Financial Adviser Who Knows Taxes
Replies: 56
Views: 6565

Re: Finding the Financial Adviser Who Knows Taxes

I recommend looking for an advisor on the Alliance of Comprehensive Planners website: https://www.acplanners.org/advisors-search

All advisors listed on this site are fee-only CFPs that are also tax professionals. Sweet spot for your situation IMO.
by inittowinit
Mon Nov 13, 2023 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Checklist+Good Answers for hiring a Personal Injury Lawyer?
Replies: 12
Views: 1210

Re: Checklist+Good Answers for hiring a Personal Injury Lawyer?

For that amount you could go the small claims route. No lawyer needed.
by inittowinit
Fri Nov 10, 2023 12:19 pm
Forum: Personal Consumer Issues
Topic: Replacing 10 year old MacBook Pro: M3 MacBook Pro or M2 MacBook Air
Replies: 35
Views: 3690

Re: Replacing 10 year old MacBook Pro: M3 MacBook Pro or M2 MacBook Air

The MacBook Air M2 is so good there’s really no need to go beyond it unless you have a known need for the additional computing power. I have the M2 Air with 16gb of RAM and 500gb storage and it is a dream. I usually have MS Office with multiple documents open, chrome with 50+ tabs and several other programs running simultaneously with no lag or issues. I will even play a moderately demanding video game with all that running and it’s fine. The battery lasts an extremely long time and recharges fast. Really can’t recommend it enough. I have the 13 inch but if I could I would’ve gotten the 15, the extra screen real estate seems worth it.
by inittowinit
Sun Nov 05, 2023 11:49 pm
Forum: Personal Finance (Not Investing)
Topic: Trusts etc
Replies: 4
Views: 745

Re: Trusts etc

You need to consult with a competent real estate attorney in your state. Bite the bullet and pay for an hour of their time. By the end of the chat you should understand why you need them and what they can do for you.
by inittowinit
Sat Oct 28, 2023 11:24 pm
Forum: Investing - Theory, News & General
Topic: Is SCV always a long term winner
Replies: 40
Views: 4418

Re: Is SCV always a long term winner

Nobody knows.

/thread
by inittowinit
Sat Oct 28, 2023 1:05 am
Forum: Personal Consumer Issues
Topic: MacBook Air 13, 15, or certified MacBook Pro 14?
Replies: 51
Views: 5034

Re: MacBook Air 13, 15, or certified MacBook Pro 14?

I have an M2 Air 13 and love it. If I had it to do over again I'd get the M2 Air 15 for the extra screen real estate. The 15 came out a week after I bought the 13. C'est la vie, there will always be a newer better gadget.
by inittowinit
Wed Oct 04, 2023 10:01 am
Forum: Personal Investments
Topic: Ally CD (with Loyalty Bonus) vs. T-bills
Replies: 5
Views: 967

Re: Ally CD (with Loyalty Bonus) vs. T-bills

I personally use T bills. The yield is higher and they are state tax-exempt. But they are marketable so subject to interest rate risk if rates fall.
by inittowinit
Sun May 28, 2023 1:00 pm
Forum: Personal Investments
Topic: Bond fund vs money market fund in retirement accounts
Replies: 2
Views: 868

Re: Bond fund vs money market fund in retirement accounts

Their durations are completely different. Money market rates can change on a dime. Bond rates are more…durable.
by inittowinit
Tue May 02, 2023 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Parents of College Students Beware, Marginal Tax Rate of 34.5% or higher from 160k to 180k
Replies: 36
Views: 4337

Re: Parents of College Students Beware, Marginal Tax Rate of 34.5% or higher from 160k to 180k

pizzy wrote: Tue May 02, 2023 10:56 am
All jokes aside, a loss of a credit is not a tax.
Losing a tax credit you were taking full advantage of is functionally identical to being taxed more in every way I can possibly imagine.
by inittowinit
Mon Apr 24, 2023 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Are there real benefits of attending an expensive college?
Replies: 245
Views: 18784

Re: Are there real benefits of attending an expensive college?

I think it depends on a lot of factors. I got a social sciences degree from an Ivy League school in the early '10s and it has gotten me a foot in the door to lots of opportunities. Merited or not, many employers seemed to view it as a mark of quality / pre-vetting of my intellectual capacity and value. YMMV depending on degree, field, etc. The other way that many people leverage the elite/expensive college experience is by establishing networks with other elites that serve them for the rest of their careers/lives. I didn't do this as much, but many children from wealthy and powerful families effectively raise/coach their kids on the value of this opportunity and how to maximize the value of spending 4 years with the children of other elites...
by inittowinit
Sun Apr 02, 2023 12:34 am
Forum: US Chapters
Topic: Nisiprius has 49,000 posts
Replies: 112
Views: 14866

Re: Nisiprius has 49,000 posts

Every time I see that butterfly I know I'm about to get learn't :beer
by inittowinit
Mon Mar 13, 2023 2:16 pm
Forum: Investing - Theory, News & General
Topic: TIPS could rival S&P500 over next decade
Replies: 57
Views: 7121

Re: TIPS could rival S&P500 over next decade

This coincides with the likes of Peter Zeihan who has done a lot of great research with regards to deglobalization combined with demographics. I have read all Zeihan's books and listened to dozens of hours of his commentary. I find him incredibly entertaining and informative on many issues. That said, have you ever noticed that he consistently claims that "all retirees liquidate their stocks AND bonds and go 100% into T-bills and cash upon retiring"? He proceeds to purport that this phenomenon will be the root cause of a demographically driven capital shortage for the next ~20 years, as the boomers all move out of equities and FI and into cash or cash equivalents. As this is the one topic I've heard him opine on where I actually ...
by inittowinit
Thu Mar 02, 2023 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Help w/response to IRS letter (bank account bonuses)
Replies: 53
Views: 4825

Re: 1099-MISC for bank account bonus - must I pay FICA taxes?

FICA is on earned income. Bank bonuses are not earned income, they are interest income. So no FICA tax on bank account bonuses.
by inittowinit
Wed Mar 01, 2023 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you bank and why? 2023 Edition
Replies: 306
Views: 39068

Re: Where do you bank and why? 2023 Edition

Ally Bank for checking and "first tier" savings (~$5k for immediate access in case of emergency). Been with them for 15+ years and their savings rates are always competitive, plus they constantly make small improvements to their user interface and services. Haven't incurred a fee from them since I started banking there. Vanguard VUSXX for the bulk of my emergency fund and short-term savings. Yes I am yield chasing. I start law school in the fall and will use these funds to cover living expenses over the next 2-3 years. $10k in I Bonds from last year for the short-term yield play. Will consider shifting another $10k from Vanguard to I Bonds in April depending on inflation and variable rates. These would either be for unexpected exp...
by inittowinit
Tue Feb 28, 2023 12:11 pm
Forum: Personal Investments
Topic: Removing Interest Rate Risk for Short Term Funds?
Replies: 11
Views: 1419

Re: Removing Interest Rate Risk for Short Term Funds?

sycamore wrote: Tue Feb 28, 2023 5:06 am Vanguard's end-of-year U.S. government obligations income information document says 100% for Treasury MM Fund looking backward 2022. But for sure it's hard to know exactly what it will be going forward.
Footnote 1 on page 1 states that repo income is generally subject to state and local taxes. I assume this means the fund derived no income from repos in 2022, though that seems odd given the current portion of portfolio held in repos two months into 2023 (23%). :confused

Perhaps the 1099 for the fund further breaks out state tax-deductible dividends?
by inittowinit
Mon Feb 27, 2023 10:29 pm
Forum: Personal Investments
Topic: TIPS vs iBonds for someone with 20 years till retirement
Replies: 19
Views: 4054

Re: TIPS vs iBonds for someone with 20 years till retirement

One thing I'm still not clear about (...not the ONLY thing, to be sure!) is the potentially negative effect of holding TIPS in a tax-deferred account. My understanding from other threads is that at least some of the tax advantage of TIPS (namely, no state or local taxes) is lost if TIPS are held in IRA. In other words, the interest would be subject to state and local taxes. If that is correct, doesn't that even the playing field a bit in the comparison between taxable and tax-deferred accounts... despite the standard recommendation to hold TIPS in the latter? I don't doubt the wisdom of that recommendation, just having trouble accounting for the loss of state tax advantage in the overall calculus. :confused I think you're correct that YMMV...
by inittowinit
Mon Feb 27, 2023 10:15 pm
Forum: Personal Investments
Topic: Removing Interest Rate Risk for Short Term Funds?
Replies: 11
Views: 1419

Re: Removing Interest Rate Risk for Short Term Funds?

Vanguard says that the “Percentage of Ordinary Dividends From U.S. Government Obligations” for the Treasury MM Fund (VUSXX) is 100%, so I would assume that 100% of dividends (interest) from VUSXX is exempt from state income tax. Where are you seeing that and what period of time does it apply to? Is it possible it was applicable before the fund started including repos in their portfolio? I'm basing my understanding on two pieces of information: 1) as of today VUSXX holds ~23% of its portfolio in repos secured by federal government obligations https://investor.vanguard.com/investment-products/mutual-funds/profile/vusxx#portfolio-composition 2) interest from repos secured by federal government obligations are deemed taxable by state and local...
by inittowinit
Mon Feb 27, 2023 2:32 pm
Forum: Personal Investments
Topic: Removing Interest Rate Risk for Short Term Funds?
Replies: 11
Views: 1419

Re: Removing Interest Rate Risk for Short Term Funds?

I use VUSXX. It's a money market fund so NAV sits at $1 unless something terrible happens (see "breaking the buck" during GFC). It's a short duration fund so you're not locking in any sort of long-term rate, but price sensitivity to interest rates is effectively nil. It also is about 75% state-tax exempt since it primarily holds US treasuries, which is nice if you live in a state with high income taxes.
by inittowinit
Wed Jan 18, 2023 7:05 pm
Forum: Non-US Investing
Topic: My private bank has a lot of funds
Replies: 91
Views: 9246

Re: My private bank has a lot of funds

tradez wrote: Wed Jan 18, 2023 5:52 pm There must be an advantage to doing this or they would minimize the number/complexity. I don’t believe they do it simply for optics in order to make it look like they are doing a lot.
That IS the advantage -- it's just their advantage, not yours. By creating a complex-looking portfolio they are seeking to increase your perception of their value ("wow, I could never invest on my own -- too complicated!").

Rather than using complexity as a proxy for quality, the appropriate method for evaluating them would be to compare their risk-adjusted performance after taxes and fees to benchmarks and/or peers over several different time periods. Then you are comparing apples to apples.
by inittowinit
Sun Dec 11, 2022 2:38 pm
Forum: Personal Investments
Topic: IBonds Vs. VOO
Replies: 23
Views: 2383

Re: IBonds Vs. VOO

If you want to force this question into a false dilemma of choosing between the exact two instruments you mentioned, then I would personally choose I bonds due to the preservation of principal over such a relatively short time-frame. I know other reasonable people who would be willing to take the risk on VOO, but they'd acknowledge that they're signing up for a larger dispersion of possible outcomes, including ones where they lose principal.
by inittowinit
Sat Nov 12, 2022 12:43 am
Forum: Investing - Theory, News & General
Topic: Is tilting ever a good idea?
Replies: 166
Views: 13708

Re: Is tilting ever a good idea?

To the extent that there are portfolio tilts that can pay off over your investing lifetime, remember that you must also be able to maintain the tilted portfolio through potentially significant periods of underperformance. This can be psychologically challenging, and it is furthermore difficult to accurately predict today whether you will be able to do so over a long period of time, especially because you don't know what other information you may gain or what life events may befall you. You may find yourself in a situation where you decide you no longer believe in the benefits that you once perceived in the tilted portfolio, and if this realization coincides with a period of significant underperformance then exiting the position to establish...
by inittowinit
Sun Jun 26, 2022 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Move to California?
Replies: 132
Views: 14699

Re: Move to California?

Your traffic and cultural concerns are moot north of Sacramento. You can easily do the math for yourself to compare the after-tax income of the current job vs old job. Or hire a CFP or EA to do it for you.
by inittowinit
Thu Jun 23, 2022 4:40 pm
Forum: Personal Investments
Topic: Sitting on a lot of cash...
Replies: 23
Views: 4864

Re: Sitting on a lot of cash...

Backtesting tells you what did happen, not what will happen. If you're trying to use the past as a crystal ball to predict the future you're going to be in for a lot of surprises...

And as oldcomputerguy said, even if the backtesting were an accurate predictor of the future (which, again, why WOULD it be???) -- without knowing your investment time horizon there is literally nothing actionable to take away from the information you've provided.
by inittowinit
Mon Oct 11, 2021 6:34 pm
Forum: Personal Consumer Issues
Topic: What computer peripherals do you love - monitor, web cam, hub, keyboard, mouse
Replies: 21
Views: 1680

Re: What computer peripherals do you love - monitor, web cam, hub, keyboard, mouse

Not necessarily what I recommend for everyone, but here's what I use...

I have a simple Logitech K380 bluetooth keyboard that I love. Works with Windows and Mac and can switch between different devices with the click of a button. Small enough to easily carry around so I never have to rely on my 2018 Macbook Air's hideously dysfunctional butterfly keyboard.

For mouse I used a Logitech MX Master 2S. It's comfy and the scroll wheel is really nice. Long battery life (bluetooth).
by inittowinit
Wed Sep 08, 2021 10:27 pm
Forum: Investing - Theory, News & General
Topic: What is the point in having a play account for individual stocks?
Replies: 49
Views: 5205

Re: What is the point in having a play account for individual stocks?

Some people seem to have an inherent desire to gamble, and allocating a small percentage of their portfolio as "play money" is intended to give them an outlet for that urge within the scope of their investing life. It is essentially like a "harm reduction" strategy for addressing this personality trait. It limits the degree to which the gambling urge can sabotage their investment outcomes while providing them with a space where the behavior is still permissible, thus (theoretically) insulating them from the urge to "gamble" on individual stocks with a more substantial portion of their assets.

I don't do it, but I have recommended it to friends who are "gambling men" (yes they have all been men).
by inittowinit
Thu Jul 01, 2021 11:59 am
Forum: Personal Consumer Issues
Topic: Do you use a Kindle? Are they worth trying?
Replies: 133
Views: 11236

Re: Do you use a Kindle? Are they worth trying?

I own a Kobo, which is a different brand of e-reader. It has great features, is cheaper than its Kindle equivalent, and best of all I don't have to give my money to Scamazon!
by inittowinit
Wed Jun 23, 2021 10:52 am
Forum: Personal Consumer Issues
Topic: What was your best quality of life improvement for $1000?
Replies: 193
Views: 30606

Re: What was your best quality of life improvement for $1000?

I bought a used sit-stand desk for the pandemic for $400.
by inittowinit
Wed May 26, 2021 11:46 am
Forum: Investing - Theory, News & General
Topic: Anyone out there not (yet) own any real estate?
Replies: 121
Views: 18997

Re: Anyone out there not (yet) own any real estate?

Early 30s, never owned real estate and don't know if I ever will. I live in VHCOL area so saving enough for a down payment ($200k+, and that's ignoring inflation) would take me >10 years at my current income. The opportunity cost of saving for a down payment in this scenario is absolutely massive -- it would essentially require me to suspend ALL other investments during that period. I would be looking at a decade of only investing in cash equivalents or similarly safe / low-yielding investments, and no tax-deferred contributions so a higher effective tax rate. On top of all that, I have never had a problem with renting, and the thought of owning a single piece of real estate frankly makes me anxious. I am comfortable relying on securities a...
by inittowinit
Fri May 14, 2021 11:47 am
Forum: Investing - Theory, News & General
Topic: Too Good To Be True Portfolio
Replies: 35
Views: 5258

Re: Too Good To Be True Portfolio

climber2020 wrote: Thu May 13, 2021 6:56 pm
Bentonkb wrote: Thu May 13, 2021 6:46 pm What is it he fatal flaw here?
Future may not resemble the past.
/thread
by inittowinit
Wed May 05, 2021 6:00 pm
Forum: Investing - Theory, News & General
Topic: Lawsuits and taxable accounts
Replies: 30
Views: 2970

Re: Lawsuits and taxable accounts

I work in this field and the only correct answer here is that you need to consult with a debt collection defense attorney in your state of residence to understand the state-level laws governing post-judgment account levies.
by inittowinit
Mon Apr 19, 2021 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: When is a lawyer needed for creating a will?
Replies: 24
Views: 2496

Re: When is a lawyer needed for creating a will?

If you don't get a competent lawyer's help then your will could end up having problems that make it unenforceable. In that case you would be intestate and your estate would most likely be distributed based on the state of jurisdiction's probate code.
by inittowinit
Fri Apr 16, 2021 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Fixing a simple tax error from 4 years ago
Replies: 14
Views: 1649

Re: Fixing a simple tax error from 4 years ago

HomeStretch wrote: Fri Apr 16, 2021 9:53 am The IRS has a large backlog for receiving paper filings. Consider mailing the 2017 paper amended return with tracking so you have proof it was mailed before 5/17/21 (if that is the deadline for your 2017 amended return).
Good idea, I will do that.
by inittowinit
Fri Apr 16, 2021 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Fixing a simple tax error from 4 years ago
Replies: 14
Views: 1649

Re: Fixing a simple tax error from 4 years ago

Thanks to everyone for your advice so far!

I wasn't aware of the 3-year limit on amending tax returns so am hoping the filing extension this year means I still have a chance to amend my 2017 return. Based on what I'm seeing here I believe I will simply print paper amendments of the relevant forms and re-file via mail (it sounds like I could do the more recent years online, but I'd rather do all the amendments in the same format -- and I find paper more fun anyway :happy ).
by inittowinit
Fri Apr 16, 2021 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Fixing a simple tax error from 4 years ago
Replies: 14
Views: 1649

Re: Fixing a simple tax error from 4 years ago

gobel wrote: Thu Apr 15, 2021 1:41 pm But to make sure, I am surprised that the tax software could make this error. So on your 2016 Schedule D, the top line on pg 2 is a negative number (greater than -19k) and the last line on pg 1 is also a negative number (greater than -16k), but nothing showed up for 2017?
Yes! They simply failed to transfer the data over from one form to the next. Seems like if it happened at scale this would be a huge problem for them, so I am guessing there was something idiosyncratic about my return that generated the error in their software :confused
by inittowinit
Thu Apr 15, 2021 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 6244

Re: Power of a personal real estate offer letter

hand wrote: Thu Apr 15, 2021 4:00 pm
inittowinit wrote: Thu Apr 15, 2021 3:47 pm I know someone who became fabulously wealthy by, in part, having his wife write (blatantly false) sympathetic personal letters to real estate sellers to get them to give them sweetheart deals on purchases. No idea what was in the letters and this was 50 years ago so times have changed, but if you find the right seller and hit them in the heartstrings there is always a chance you can steal a sale or even get a discount. Everyone's human.
Except your acquaintance apparently.
Greed's a human emotion too :wink:
by inittowinit
Thu Apr 15, 2021 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 6244

Re: Power of a personal real estate offer letter

I know someone who became fabulously wealthy by, in part, having his wife write (blatantly false) sympathetic personal letters to real estate sellers to get them to give them sweetheart deals on purchases. No idea what was in the letters and this was 50 years ago so times have changed, but if you find the right seller and hit them in the heartstrings there is always a chance you can steal a sale or even get a discount. Everyone's human.
by inittowinit
Thu Apr 15, 2021 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Fixing a simple tax error from 4 years ago
Replies: 14
Views: 1649

Fixing a simple tax error from 4 years ago

I used HR Block's free e-file tax software to file my 2017 taxes. The software made an error that I just recently noticed, and I am looking for advice on the best way to rectify it since it will require me to amend 3 years of tax returns. The Error: HR Block did not carry over my capital losses from line 13 of the Capital Loss Carryover worksheet to Line 14 of my Schedule D. This effectively "disappeared" ~$16,000 in accumulated capital losses that would have otherwise have carried over into future years and reduced my income by at least $3k/year. My Questions: I understand that to correct the error and retroactively apply the losses to my 2017-2020 taxes, I will need to file amended returns for 2017-2019 along with my 2020 return...
by inittowinit
Thu Apr 15, 2021 11:59 am
Forum: Personal Finance (Not Investing)
Topic: I wish I Knew Then What I Know Now
Replies: 33
Views: 4562

Re: I wish I Knew Then What I Know Now

I wish I had understood the psychological challenge of maintaining an asset allocation more complex than a simple 3/4-fund portfolio over the long term.

I sliced and diced for years, and while I rarely actually changed my allocations, I was constantly second-guessing myself and stressing about whether I should adjust my holdings based on new information I read.

I now hold a simple global market-weight equity portfolio and feel confident that I will not deviate from it for the long term. It helps make sure the winks sum to 40 each night :wink:
by inittowinit
Sat Mar 27, 2021 8:58 pm
Forum: Investing - Theory, News & General
Topic: Lake Wobegon's nefarious sister city
Replies: 31
Views: 4356

Re: Lake Wobegon's nefarious sister city

Some managers outperform and others underperform the average. The problem is there are no consistently reliable models for predicting which manager will fall into which group. Because actively managed funds have higher expense ratios on average than index funds, the overall group of investors using active funds pay more on average in fees which are a guaranteed drag on returns. Even though some managers will generate sufficient alpha to make up for their fees, enough of them won't to the extent that active investors on average as a group will underperform the market average (ie indexes), primarily due to higher management fees, and also due in part to more transaction fees and tax-inefficient capital gains distributions due to the higher tu...
by inittowinit
Mon Mar 22, 2021 3:48 pm
Forum: Personal Investments
Topic: Would it be foolish for me to invest lump sump in VTWAX in taxable account instead of breaking it into VTSAX and VTIAX?
Replies: 9
Views: 1613

Re: Would it be foolish for me to invest lump sump in VTWAX in taxable account instead of breaking it into VTSAX and VTI

You lose some flexibility wrt taxes, but that can be a reasonable trade-off for the simplicity and peace of mind afforded by a single fund. I certainly wouldn't characterize it as "foolish" for the vast majority of people.
by inittowinit
Wed Mar 17, 2021 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: [Third stimulus payment - mega-thread]
Replies: 387
Views: 40271

Re: Received 3rd stimulus check 3/12/21

Based on my 2020 income I should NOT qualify, but I haven't filed for 2020 yet and just received the full $1,400 today.

Anyone have any good sources with info about whether I will need to repay the $1,400 after I file my 2020 return and they can see I don't qualify based on AGI? FWIW, if allowed to keep it I will just be donating the whole amount to local nonprofits since I don't need it, as I did with the past two checks I received.

This is the best article I could find but it still leaves some gaps...
https://www.cnet.com/personal-finance/s ... y-and-how/
by inittowinit
Tue Mar 16, 2021 2:41 pm
Forum: Investing - Theory, News & General
Topic: Any Bogleheads Turned Financial/Investment Advisors?
Replies: 19
Views: 2911

Re: Any Bogleheads Turned Financial/Investment Advisors?

I switched careers to become a financial advisor after being an avid Boglehead and personal finance nerd for ~8 years. Over the course of 18 months I took the Series 65 exam, passed CFP education requirements, and passed the CFP exam. I'm now working on my experience requirement. I worked at an RIA for a few months, then switched to a fintech company. Before all this I was a management consultant working in higher education and healthcare (no financial industry experience whatsoever). For reference, the Series 65 exam is easy and you do not need a sponsor to take it on your own, as someone seemed to imply above. You can study for it and pass it in a month if you focus up and use a good prep program. The CFP exam is hard, but if you study di...
by inittowinit
Tue Mar 09, 2021 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: What's It Really Like to Work With Vanguard's Personal Advisory Service?
Replies: 179
Views: 26681

Re: What's It Really Like to Work With Vanguard's Personal Advisory Service?

I suggested PAS to my MIL and have kept an eye on how they manage her account. They seem to build a decent, fairly simple, low-cost portfolio and then pretty much everything else varies based on the individual advisor you end up with. I had suggested a Roth conversion ladder for my MIL and the PAS advisor thought that was a neat idea when I brought it up, and did provide some basic assistance in formulating the ladder, but would clearly never have proposed it had I not brought it up and pushed for it (it was a no-brainer!). While many have CFPs, these folks are not really providing "comprehensive financial planning" the way you would get it from a high quality boutique RIA firm (and yes, those DO exist, though whether they make up...
by inittowinit
Thu Feb 25, 2021 7:07 pm
Forum: Investing - Theory, News & General
Topic: Smarter approach to "emergency funds"?
Replies: 259
Views: 77006

Re: Smarter approach to "emergency funds"?

As someone with a fairly large emergency fund for my age and lifestyle, but zero taxable investments (everything's in retirement accounts) -- I think this is a compelling idea. Especially compared to keeping everything in Ally savings account or chasing bank account bonuses (too lazy).
by inittowinit
Thu Feb 25, 2021 6:46 pm
Forum: Personal Investments
Topic: Backdoor & Mega Backdoor Roth in Same Tax Year?
Replies: 29
Views: 3533

Re: Backdoor & Mega Backdoor Roth in Same Tax Year?

You probably mean you rolled the 401k contributions into a Rollover (traditional) IRA, then converted that to a Roth IRA, correct? If so, then yes -- as long as you stayed within the respective IRA and 401k annual IRS contribution limits, there should be no problem with what you did. No, I made a voluntary after tax contribution to my 401k. I also made an after tax contributions to a traditional IRA. Both of these were then transferred into Roth IRAs. I see. As long as you stayed within the contribution limits there should be no issues here. In general you can do both a backdoor and megabackdoor Roth in the same year as long as you follow their respective contribution rules, since neither affects your ability to use the other. Is there som...
by inittowinit
Wed Feb 24, 2021 9:49 am
Forum: Personal Investments
Topic: Backdoor & Mega Backdoor Roth in Same Tax Year?
Replies: 29
Views: 3533

Re: Backdoor & Mega Backdoor Roth in Same Tax Year?

You probably mean you rolled the 401k contributions into a Rollover (traditional) IRA, then converted that to a Roth IRA, correct?

If so, then yes -- as long as you stayed within the respective IRA and 401k annual IRS contribution limits, there should be no problem with what you did.