Search found 48 matches

by JStephens
Sat May 05, 2018 6:30 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 264
Views: 33401

Re: MoviePass-Too good to be true, but it's legit.

Enjoy MoviePass while it lasts ... https://wapo.st/2HDNkgO?tid=ss_mail&utm_term=.c335c70dd82a “I don’t see how they can sustain themselves,” said Hester. People always say that about disrupters. Remember the Amazon naysayers - the bond analyst who was convinced it would go bankrupt? Who knows what ...
by JStephens
Mon Apr 30, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: [Process for] Turning over UTMA to Adult Daughter
Replies: 8
Views: 756

Re: Turning over UTMA to Adult Daughter

My father turned one over to me. He signed a form and I signed one too. I think it took us maybe 15 minutes walking into a Fidelity branch. It's been a while, but I'm pretty sure a new brokerage account was created in the act of signing it over.
by JStephens
Thu Apr 26, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Employer X vs Employer Y - which is better?
Replies: 4
Views: 402

Re: Employer X vs Employer Y - which is better?

Job Y's match basically cancels out the insurance difference and you can start it a year earlier.

Edit: misread OP
by JStephens
Fri Apr 20, 2018 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: High Income no 401k option
Replies: 2
Views: 608

Re: High Income no 401k option

At that income, you're most likely better off with a traditional IRA. Since you don't have a 401k, it's deductible.
by JStephens
Mon Apr 16, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Use 25k From Brokerage Account For Investment Property?
Replies: 29
Views: 2429

Re: Use 25k From Brokerage Account For Investment Property?

You're not getting $2,000 a month for that place. Based on your numbers You'll probably be breaking even at best. Also for rental properties a lot of the time they want 25% down payment, and I doubt you'll get a 4% unless you're doing a 15 year.
by JStephens
Wed Apr 04, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 11042

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

Lily established a solo 401(k) for herself and placed her investment property inside it so she can put the Airbnb rent she collects into her tax-deferred retirement savings. I just don't see how this is possible based on what she's said. Here's her story: https://www.thefrugalgene.com/dumb-luck-ric...
by JStephens
Sun Apr 01, 2018 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in syndicated real estate deals
Replies: 11
Views: 1037

Re: Investing in syndicated real estate deals

While index stock market invesrments will always go up over time, not so these real estate partnerships. I went through the investing phase of being interested in real estate partnerships. I made very modest amounts in two, and got burned badly in one. I may have barely broken even, or not, over a ...
by JStephens
Tue Mar 27, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase - Sanity Check On Financials
Replies: 53
Views: 4480

Re: House Purchase - Sanity Check On Financials

Income is fairly stable - it is partly the hours I work, partly the clients I bring in, and part just how the Company I assisted start-up is doing (growing, etc.). I think the big concern is that from what you said your income has not been stable and has more than doubled over the last three years....
by JStephens
Tue Mar 27, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase - Sanity Check On Financials
Replies: 53
Views: 4480

Re: House Purchase - Sanity Check On Financials

Income is fairly stable - it is partly the hours I work, partly the clients I bring in, and part just how the Company I assisted start-up is doing (growing, etc.). I think the big concern is that from what you said your income has not been stable and has more than doubled over the last three years....
by JStephens
Tue Mar 27, 2018 10:16 am
Forum: Personal Finance (Not Investing)
Topic: How to Endorse a Check Made out to an Estate
Replies: 16
Views: 1881

Re: How to Endorse a Check Made out to an Estate

You shouldn't have any trouble. Endorse it as written and deposit it in the joint account. The bank will probably accept it, although I wouldn't raise the question with them. Gill Good idea. I went ahead and endorsed as suggested and deposited it using my mobile phone app. Hopefully, it will go thr...
by JStephens
Sat Mar 24, 2018 10:22 am
Forum: Investing - Help with Personal Investments
Topic: Treasury Bills vs. I-bonds vs. Intermediate-term tax-exempt muni bonds
Replies: 24
Views: 3601

Re: Treasury Bills vs. I-bonds vs. Intermediate-term tax-exempt muni bonds

I was under the impression that the reason why rates are going up is to combat the fact that inflation is going up. So it's not necessarily true that I-bonds will go down. Also, with rates going up doesn't that mean the fixed rate should increase this May?
by JStephens
Thu Mar 22, 2018 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 1461

Re: Employee Fiduciary Update - 15 months in

2, and really unforgivable in my experience - EF gave a 2nd HCE a higher contribution than all other participants other than the owner. EF didn't ask the owner how the other HCE was to be handled. I advised the owner to tell EF to give the HCE only the 3% SH contribution (NO PS contribution. This i...
by JStephens
Thu Mar 01, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: one participant 401k deduction limits
Replies: 4
Views: 293

Re: one participant 401k deduction limits

A solo-401k is just like any other 401k. You can do the $18,500 then 25% of profit. Here is vanguards calculator, and if you google "small business retirement calculators" you'll get one for each broker.

https://personal.vanguard.com/us/SbsCal ... Controller
by JStephens
Fri Feb 09, 2018 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 7164

Re: Why would people buy condos/SFH in Texas?

One important thing to take into account is things get VERY sketchy in Houston street to street. For example, if you're seeing a place rent for $700 in "downtown" I bet that's actually just on the outskirts of downtown and you're actually in east Houston.
by JStephens
Sun Jan 28, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage with taxable investments
Replies: 5
Views: 684

Re: Pay off mortgage with taxable investments

I would pay off the car first if anything. I don't see any benefit of paying off the mortgage right now. Why not just slow down other investments and throw an extra $2000-$3000 at it every month?
by JStephens
Tue Jan 23, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mango Money: 1099-INT Incorrect?
Replies: 7
Views: 634

Re: Mango Money: 1099-INT Incorrect?

seawolf21 wrote:
Tue Jan 23, 2018 11:05 am
Are we talking about a huge amount? Why not just reported with 2017 return?
It'd have to be around $25 worth of interest.
by JStephens
Mon Jan 08, 2018 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Overwhelmed with how to handle taxes on large inherited portfolio.
Replies: 24
Views: 1901

Re: Overwhelmed with how to handle taxes on large inherited portfolio.

Fidelity has a cash flow estimator where it shows how much they expect you to get in dividends each month. I'd be surprised if most brokerages don't have that.
by JStephens
Thu Jan 04, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with tax plan - 250k family in Texas
Replies: 15
Views: 1436

Re: Need help with tax plan - 250k family in Texas

Your withholding is too low. $40k income tax for that income is about right. Also the lowest number of allowances you can choose is 0, not 1.
by JStephens
Thu Jan 04, 2018 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 2500

Re: Higher net worth / lower cash flow - How to Invest

In relative terms, my perception is we spend more than the typical boglehead but less than the typical American. Our assets didn't all come through savings. We inherited almost a 1/3 of our assets from a grand parent and we do receive yearly monetary gifts. Like the realty payouts and dividends fro...
by JStephens
Thu Jan 04, 2018 3:09 pm
Forum: Investing - Help with Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 2500

Re: Higher net worth / lower cash flow - How to Invest

Are you not getting any distributions from the realty? That seems really odd. Or are you just purposely not including it? I'm not including it as it's not guaranteed income and to be conservative in my thinking. Also a couple of them on realtyshares haven't started to pay yet as I just recently inv...
by JStephens
Thu Jan 04, 2018 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 716

Re: Fidelity Solo 401k - Contribution Options

Do you have a brokerage/cash management account? I transferred my contribution from a brokerage to the Solo 401k with a phone call. I have the same issue. So your company has a brokerage/cash management account at Fidelity? Or are you talking about your personal account? I have a personal brokerage...
by JStephens
Thu Jan 04, 2018 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 2500

Re: Higher net worth / lower cash flow - How to Invest

Are you not getting any distributions from the realty? That seems really odd. Or are you just purposely not including it?
by JStephens
Tue Jan 02, 2018 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: 2017 New Spousal IRA Questions - Phaseout/tIRA/rIRA?
Replies: 3
Views: 299

Re: 2017 New Spousal IRA Questions - Phaseout/tIRA/rIRA?

How much of the gross is from the partners home business? A solo-401k for him/her could knock down your MAGI if it pulls in a nice amount of income.
by JStephens
Sun Dec 31, 2017 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 716

Re: Fidelity Solo 401k - Contribution Options

Do you have a brokerage/cash management account? I transferred my contribution from a brokerage to the Solo 401k with a phone call. I have the same issue. So your company has a brokerage/cash management account at Fidelity? Or are you talking about your personal account? I have a personal brokerage...
by JStephens
Sun Dec 31, 2017 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 716

Re: Fidelity Solo 401k - Contribution Options

Do you have a brokerage/cash management account? I transferred my contribution from a brokerage to the Solo 401k with a phone call.
by JStephens
Mon Dec 18, 2017 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Can/should LLC owner take zero salary?
Replies: 5
Views: 890

Re: Can/should LLC owner take zero salary?

As long as there's no distribution, you're fine taking no salary. Be careful that there weren't any distributions of any kind though.
by JStephens
Mon Dec 18, 2017 3:19 pm
Forum: Personal Consumer Issues
Topic: New job offer - background check
Replies: 140
Views: 8460

Re: New job offer - background check

I believe in every state, you have to sign a form saying you consent to a background check. It's not that uncommon to not be checked as a CPA, since you can't have a license with a felony. I would say any misdemeanor over 5 years old almost nobody will care about. I've dealt with employee files and ...
by JStephens
Sun Dec 10, 2017 12:44 am
Forum: Personal Finance (Not Investing)
Topic: Experiences with Quicken to GNUCash Conversion.
Replies: 18
Views: 2312

Re: Experiences with Quicken to GNUCash Conversion.

I've been using it for close to 2 years now. I didn't have any detailed records before that, so no conversion was necessary. For investments, I just have a "Change in investments" account under equity that I throw the monthly changes for each investment account. I looked into the stock tracking part...
by JStephens
Sun Dec 10, 2017 12:34 am
Forum: Personal Finance (Not Investing)
Topic: How can someone who earns 500k/yr in w2 be in 25% tax bracket?
Replies: 17
Views: 2914

Re: How can someone who earns 500k/yr in w2 be in 25% tax bracket?

My best guess is he only works 1-2 days a week and pulls in around $150k as a physician, and his rental properties throw off no taxable income. More likely, he doesn't know what he's talking about.
by JStephens
Thu Dec 07, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Is a solo-401k worth it?
Replies: 13
Views: 2012

Re: Is a solo-401k worth it?

I setup a solo 401k through Fidelity 2 years ago. You have to get a EIN for your solo 401k itself, since it's technically a 401k plan. You don't need an EIN for your sole proprietorship. You don't need a 1099, but you will have to say where the money is coming from and the IRS will send a letter to ...
by JStephens
Sat May 16, 2015 12:03 pm
Forum: Personal Consumer Issues
Topic: PDF file locking up computer
Replies: 20
Views: 3133

Re: PDF file locking up computer

I've had this happen before, and what it was doing was opening up Adobe and then asking me to save the document automatically. The problem was, the "do you want to save" dialog box was opened up behind all the windows giving the appearance it was locked.
by JStephens
Sun Feb 16, 2014 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Do you balance your checking account?
Replies: 114
Views: 7805

Re: Do you balance your checking account?

I somewhat do. I compare my projected cash flow for the month with what actually happened. I mainly do it on the 10th after all the credit card payments have been made.
by JStephens
Sun Aug 04, 2013 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance for my daughter (college)
Replies: 13
Views: 1017

Re: Health insurance for my daughter (college)

I'm a somewhat recent grad, and my school had a program for the semester (summer as well if you're coming back in the Fall) that was like $200. I think it was a $5000 limit, and you could go to the on campus doctor for free and get the generic drugs through them.
by JStephens
Sun May 05, 2013 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: Should I sell my 2 rental properties?
Replies: 20
Views: 2879

Re: Should I sell my 2 rental properties?

That's a pretty thin margin on both rentals. If one is vacant for just a month it wipes out any profit on either rental for more than 6 months. I would ditch them.
by JStephens
Wed Mar 06, 2013 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: What credit/charge cards do you have in your wallet?
Replies: 114
Views: 69784

Re: What credit/charge cards do you have in your wallet?

Penfed Rewards card (the points one) for gas/groceries/when Amex isn't accepted
Fidelity 2% Amex when I'm not doing a sign up bonus

I only tend to charge 500-700 a month so I try to basically have a sign up bonus going at all times. This year so far has been surprisingly good.
by JStephens
Wed Mar 06, 2013 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What does the ideal match and vesting look like?
Replies: 11
Views: 2924

Re: 401(k) - What does the ideal match and vesting look like

stan_the_man wrote: FWIW -- Low plan expenses are more important to me than if there is a match at all.
Why? Nearly any match would offset nearly any of the higher fund expenses.
by JStephens
Fri Feb 22, 2013 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off Investment Property Mortgage with Heloc?
Replies: 14
Views: 1861

Re: Pay off Investment Property Mortgage with Heloc?

Probably not a bad idea. You might want to check to see if this comingles your assets if the two properties are in corporate entities though.
by JStephens
Fri Feb 22, 2013 6:40 pm
Forum: Personal Consumer Issues
Topic: Pay a speeding ticket or plead to non moving
Replies: 42
Views: 4484

Re: Pay a speeding ticket or plead to non moving

Has anyone gotten a written up for less than 70 in a 55 zone or less than 75 in a 65 zone? Jim (Edited to clarify 55 rule is for divided highways) I've gotten a 77 in a 70 and last weekend my friend got one for going 80 in a 75. I get one around every other year and just do the online driving class...
by JStephens
Mon Feb 11, 2013 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: How do things look to you young investors these days?
Replies: 87
Views: 9075

Re: How do things look to you young investors these days?

I think America is going to become a lot more violent in the next couple of years before a drastic change occurs, or more likely, acceptance of a more permanent underclass and slums. I'm hoping to stay just far enough in front to not be a part of it. This is ignoring all the resources that are suppo...
by JStephens
Mon Jan 28, 2013 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you expect your kids to pay for college?
Replies: 237
Views: 30835

Re: How much do you expect your kids to pay for college?

I also wonder about students that haven't worked a day in their lives other than perhaps a few menial summer jobs. Entering the professional workforce must be quite a shock. It wasn't that bad for me. The biggest thing was dealing with people twice your age on a social level more often, which I had...
by JStephens
Mon Jan 28, 2013 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Helaine Olen: Pound Foolish
Replies: 73
Views: 16111

Re: Helaine Olen: Pound Foolish

I'm impressed that the above posters are this polite in connection with the article. The author appears to make two basic points: (a) saving on consumption is pointless; and (b) the problem lies with the "system", not with individuals. In other words, she's shifted the burden of ensuring financial ...
by JStephens
Thu Jan 10, 2013 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Student loan debt collector calling about in-law
Replies: 15
Views: 2215

Re: Student loan debt collector calling about in-law

You could always just rat out your deadbeat sister-in-law. Tell them everything. Tell them her address, her email, her two phone numbers, her boyfriend's name, his phone number, her place of employment, her supervisor's name, etc. Ask for a 10% cut of the recovery. I think the most likely result of...
by JStephens
Sun Jan 06, 2013 12:36 pm
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7554

Re: Divorce to save money

I would think you would have to have a very trusting and solid relationship to pull this off since it'd be easy to say "Well we're already divorced, so it's time to break up." Then there's the nearly inevitable event of someone being refused access to them in the hospital because they're not family...
by JStephens
Sun Jan 06, 2013 10:40 am
Forum: Investing - Theory, News & General
Topic: Divorce to save money
Replies: 84
Views: 7554

Re: Divorce to save money

I would think you would have to have a very trusting and solid relationship to pull this off since it'd be easy to say "Well we're already divorced, so it's time to break up." Then there's the nearly inevitable event of someone being refused access to them in the hospital because they're not family ...
by JStephens
Sat Jan 05, 2013 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Payoff
Replies: 13
Views: 1549

Re: Student Loan Payoff

[Link to an article and inappropriate comments removed by admin LadyGeek] It's interesting how he says it's just that easy to do in that article, but then links to another article of his showing that the person who did this is probably in federal prison by now. And you know, this plan only requires...
by JStephens
Sat Jan 05, 2013 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Any change to your 2013 paycheck?
Replies: 68
Views: 6482

Re: Any change to your 2013 paycheck?

I received a 2.03% raise so I'll enjoy the net tax change in a couple of months at a McDonalds or something like that.

Our HR person sent out an email to everyone explaining that Obama was raising taxes and they'd be using the 2012 tables for now until things get sorted out.
by JStephens
Sun Dec 23, 2012 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: The Best Way to Boost Spouse Credit Score
Replies: 5
Views: 1634

Re: The Best Way to Boost Spouse Credit Score

I'd try to get a card through one of the credit unions you bank with. It probably won't be a huge limit or have cash back, but once you have a card things will snowball quickly.
by JStephens
Sun Dec 23, 2012 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Thinking of going back to school to become an accountant
Replies: 12
Views: 2357

Re: Thinking of going back to school to become an accountant

I went a different track than most people that will post here. I went into industry accounting right away through a random job I found online. I started off doing some reconciliation work and other reports while finishing off my classes to take the CPA. I now do accounting for 30 apartment complexes...