Search found 76 matches

by JStephens
Tue Jan 23, 2024 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Contesting a will
Replies: 41
Views: 5208

Re: Contesting a will

Nate79 wrote: Sat Jan 20, 2024 4:03 pm So you have absolutely zero information that the current will may be invalid but you propose the idea of contesting it? Do you have a copy of the previous will? Had you visited them or talked to them soon before their death?

Anything, anything at all?
I would say that the will being signed 4 days before his death and all the witnesses are the neighbors families is suspicious enough to look into it.
by JStephens
Fri Oct 06, 2023 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878768

Re: Bank of America/Merrill Edge - Preferred Rewards

NYCaviator wrote: Fri Oct 06, 2023 1:25 pm
JStephens wrote: Fri Oct 06, 2023 11:07 am No, they clearly tell you the conversion rate is, fees charged on top, and what the discount is.
I used the link posted above where it lets you order currency, and all it shows is the conversion rate. I didn’t see anything about fees or added % charges, but maybe I’m missing it?

I see the 3% foreign transaction fees for ATMs, but does that apply to currency you order from a local branch?
I meant if you start the order, it will then give you the breakdown. The 3% fee is baked into the exchange rate. This is what it looks like:

Image
by JStephens
Fri Oct 06, 2023 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878768

Re: Bank of America/Merrill Edge - Preferred Rewards

https://locators.bankofamerica.com/international.html It looks like I save on the $5 fee (not sure if this is waived anyway), and will be charged a 3% international transaction fee which might reduced by or to 2% because of the preferred rewards. https://promotions.bankofamerica.com/preferredrewards/en Here is the foreign currency ordering site where they mail you the physical Euros (I'm assuming there's no discount on this?). Just an update in case anyone finds this in the future, but I went ahead and ordered the currency through the website. They got it to the branch the next day (ordered around noon) and the 2% foreign currency transaction discount was applied so my rate was 1.08 Euro = 1 USD. Were there any other fees or markups? Boa i...
by JStephens
Fri Oct 06, 2023 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878768

Re: Bank of America/Merrill Edge - Preferred Rewards

JStephens wrote: Tue Oct 03, 2023 1:28 pm https://locators.bankofamerica.com/international.html

It looks like I save on the $5 fee (not sure if this is waived anyway), and will be charged a 3% international transaction fee which might reduced by or to 2% because of the preferred rewards. https://promotions.bankofamerica.com/pr ... rewards/en

Here is the foreign currency ordering site where they mail you the physical Euros (I'm assuming there's no discount on this?).
Just an update in case anyone finds this in the future, but I went ahead and ordered the currency through the website. They got it to the branch the next day (ordered around noon) and the 2% foreign currency transaction discount was applied so my rate was 1.08 Euro = 1 USD.
by JStephens
Tue Oct 03, 2023 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878768

Re: Bank of America/Merrill Edge - Preferred Rewards

Here is the foreign currency ordering site where they mail you the physical Euros (I'm assuming there's no discount on this?). That website says there is up to a 2% discount off the exchange rate if you are a preferred rewards member, plus free standard shipping: If you’re a Bank of America Preferred Rewards client®, you’ll receive a discount of up to 2% off the published exchange rate, based on your tier, as well as no fee on standard shipping ($7.50 value) with all orders placed in Online Banking or through the Mobile Banking app. Yeah you're right. I was on the next page and forgot about that part. So it's either a ~8% fee getting it mailed, or ~7% (currency difference + 3% foreign currency transaction - 2% reward) doing it at an ATM.
by JStephens
Tue Oct 03, 2023 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878768

Re: Bank of America/Merrill Edge - Preferred Rewards

https://locators.bankofamerica.com/international.html

It looks like I save on the $5 fee (not sure if this is waived anyway), and will be charged a 3% international transaction fee which might reduced by or to 2% because of the preferred rewards. https://promotions.bankofamerica.com/pr ... rewards/en

Here is the foreign currency ordering site where they mail you the physical Euros (I'm assuming there's no discount on this?).
by JStephens
Tue Oct 03, 2023 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 7041
Views: 878768

Re: Bank of America/Merrill Edge - Preferred Rewards

I'm going to be traveling to Spain next week and wondering what is the best way to get Euros from my account. I'm in the Platinum Honors tier and I most likely will go to a casino in Barcelona so I'm most looking at getting $1,000-$2,000. I see that I can order online in BoA and they said it should be mailed to me within 2-3 days. Or am I best off just using at ATM there (looks like Deutsche Bank is a partner bank)?
by JStephens
Mon Sep 18, 2023 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: 98-year-old breaks lease. What to expect?
Replies: 44
Views: 7661

Re: 98-year-old breaks lease. What to expect?

I don't deal with senior housing specifically, but I do deal with multifamily properties. Assuming no guarantor/cosigner, from what I've heard from people who deal with senior housing, this is not an uncommon scenario. They will put up a tough front, send it to collections, and call it a day. A collection company won't buy the debt, they'll be working on contingency (they'll get 40-45% of what's collected) and if you tell them she's 98 years old with no money they might not even ever bother calling again.
If you're really worried about a garnishment/lien, you can just prepay the rent to the new complex.
by JStephens
Thu Aug 03, 2023 11:35 am
Forum: Personal Finance (Not Investing)
Topic: AZ landlord. Renter refused to pay the last month's rent. What next?
Replies: 117
Views: 14167

Re: AZ landlord. Renter refused to pay the last month's rent. What next?

The contract states: "Breaking the lease – If you are unable to fulfill the lease obligations for the entire term, there is a lease buy out that is required before management can proceed with the leasing of your rental home. This lease fee is equal to one (1) months’ rent plus $750 and is merely a penalty for breaking your lease paid to Desert Canyon Properties and the landlord. This penalty does NOT release you from all of your lease obligations and does not apply to money owed. You must also leave the home clean, undamaged and ready for occupancy. Neatness is very important if we are going to show the unit while you are still occupying it. Move-in and move-out inspections are required. Call your manager for direction in this matter....
by JStephens
Mon Jul 31, 2023 11:43 am
Forum: Investing - Theory, News & General
Topic: Did the high rate of return really lead to financial independence?
Replies: 48
Views: 7964

Re: Did the high rate of return really lead to financial independence?

I think the high returns lead to the shift in focus from frugality to living life. From 2009-2015 or so FI tended to focus on frugality and then from 2017-now a lot of people started to talking about living your life and CoastFIRE. Might have just been a reaction to the earlier frugal trend, but I doubt you'd see it if the S&P was throwing off 20%+ gains every other year.
by JStephens
Mon Mar 27, 2023 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Millennials: do you prefer debit to credit? if so, why?
Replies: 178
Views: 13000

Re: Millennials: do you prefer debit to credit? if so, why?

Older millennial here. I put everything on credit cards as long as it doesn't incur an additional fee. Currently have 3 BoA cards getting me the 5.25% cash back on Dining, gas, and online purchases. Then the general 2.625% cash back on everything. I'm pretty sure all my friends pretty much exclusively use debit cards.
by JStephens
Thu Dec 19, 2019 1:03 pm
Forum: Personal Consumer Issues
Topic: Best Process for Buying a Used Car (Camry / Accord)
Replies: 18
Views: 2312

Re: Best Process for Buying a Used Car (Camry / Accord)

I was browsing around the other day and in my area you have to go more towards a 2015 or 2016 model to see a noticeable depreciation hit on a Camry.
by JStephens
Wed Oct 30, 2019 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: How do I make more money with my accounting degree?
Replies: 29
Views: 3984

Re: How do I make more money with my accounting degree?

Since you have an interest in real estate, look into property management companies. The pay is generally pretty solid (staff accountant tends to be $55-$70k), easy hours, and with a CPA you can be a controller for a smallish company making around $100k.
by JStephens
Mon Jun 17, 2019 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge and Preferred Rewards
Replies: 70
Views: 11294

Re: Merrill Edge and Preferred Rewards

It's been a while, but I'm pretty sure I had the balance first, then when I opened a checking account I instantly got the preferred rewards status. Also, if you wait, you will get an offer to open the checking account and a $100 bonus for doing a couple of direct deposits.
by JStephens
Thu Jan 10, 2019 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: How to sign business tax form (1096) if out of the country?
Replies: 14
Views: 3472

Re: How to sign business tax form (1096) if out of the country?

The 1096 form doesn't need to be signed by the tax payer. Just have your mother sign it and have her list the title as "Accountant" or something. https://www.irs.gov/pub/irs-pdf/f1096.pdf I can't find the instructions specifically for the 1096, only general information return instructions. They used to say that only an officer or board member could sign the form. We contacted the IRS several years ago and they confirmed that this was true. The form you linked doesn't specifically address who can sign. Do you know of a source that addresses this? I've been doing this form for many years and my accountant always sent it to me to sign because he couldn't do it, even though he e-filed everything else. Exactly, the signature isn't say...
by JStephens
Thu Jan 10, 2019 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: How to sign business tax form (1096) if out of the country?
Replies: 14
Views: 3472

Re: How to sign business tax form (1096) if out of the country?

The 1096 form doesn't need to be signed by the tax payer. Just have your mother sign it and have her list the title as "Accountant" or something.

https://www.irs.gov/pub/irs-pdf/f1096.pdf
by JStephens
Sat Dec 29, 2018 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"
Replies: 216
Views: 52105

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

theplayer11 wrote: Wed Dec 19, 2018 1:09 pm where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
You can buy CDs under the fixed income screener. You can only view them when the market is open.
by JStephens
Tue Dec 18, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax [2016 - 2021]
Replies: 1053
Views: 147454

Re: Turbo Tax Premier 2016 Free @ Fidelity (Premium Services customers, maybe not all)

MisterMister wrote: Tue Dec 18, 2018 11:55 am
duckcalldan wrote: Sun Dec 18, 2016 1:04 pm Premium Services client here, $500K, no free TT offer. I called PS and they said it's only for active traders, which I don't believe is correct. I emailed my Fidelity contact last week and he did not have word of this year's offer yet. I will be adding assets early next year so I assume he will either make me eligible for free TT or I'll get reimbursed.
I am also PS but no offer (I can get $20 off but so can anyone else). I am not an "active trader" and I don't know how you cross that threshold in Fidelity's view.
I think you have to actually trade. I got active trader 2 years ago when I was messing around with options. My balances were maybe $60,000.
by JStephens
Thu Nov 15, 2018 8:48 pm
Forum: Investing - Theory, News & General
Topic: [Fidelity Health Savings Account Mega-Thread]
Replies: 1252
Views: 192484

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

I just opened a new HSA at fidelity and as others have said, quite painless. The only item I can't find on the website is where it would track annual contribution amounts. For those with current HSA accounts at Fidelity through their employers, is this available online? Also, if I want my account to be a "family" HSA, is there any additional action I need to take at Fidelity? I didn't see that as an option when opening the account. This was an issue I ran into with my current HSA, which was not evident till I tried to contribute over the individual limit. When you try to contribute, Fidelity lists the contributions amounts and includes a message saying they'll let you contribute whatever you want you need to figure it out.
by JStephens
Fri Oct 12, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 8545

Re: Just Divorced -- Need Help

If you transfer a balance onto a card, you don't want to use that card for normal purchases. The normal purchases won't have the grace period so you'll be paying the 25% interest on all purchases you makes until the whole card has a $0 balance (which will be never if you're making purchases on it).

Chase Slate is usually the best one since it doesn't have a transfer fee and is 15-18 months.
by JStephens
Fri Aug 24, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: K-1 1120S Income Vs. Distribution
Replies: 4
Views: 426

Re: K-1 1120S Income Vs. Distribution

Keep in mind there's a guarantee payment field, which is basically the paycheck.
by JStephens
Thu Aug 23, 2018 2:45 pm
Forum: Personal Consumer Issues
Topic: Circuit breaker stays tripped
Replies: 29
Views: 3246

Re: Circuit breaker stays tripped

ThankYouJack wrote: Thu Aug 23, 2018 12:26 pm I don't think there's a GFCI outlet to that area of the house and I'm guessing there's a short someplace. Should I try/test anything else before calling an electrician?
I would look again. I had the same thing you had and there was an outlet hidden underneath a porch.
by JStephens
Mon Aug 20, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else seen huge rise in TX insurance costs?
Replies: 27
Views: 2612

Re: Anyone else seen huge rise in TX insurance costs?

Mine went up about 15% in Dallas. Liability only.
by JStephens
Mon Aug 06, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 814
Views: 112360

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

ruralavalon wrote: Mon Aug 06, 2018 9:06 am
sleepysurf wrote: Mon Aug 06, 2018 7:24 am Jim Dahle, M.D. (White Coat Investor) has a great blog post today putting all this in perspective... https://www.whitecoatinvestor.com/expense-ratios/
That is a very comprehensive discussion, thank you for the link.
His return tables are very disingenuous. FSTVX is only 0.015% ER as of Thursday (or was it Wednesday?). Before that it was slightly higher than VTSAX I believe, and it was definitely higher 10 years ago. I'm already with Fidelity, so I don't really care either way. Nor would I suggest switching is that important. Has Fidelity even released the holdings yet for these new ones?.
by JStephens
Sun Aug 05, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to lose $200 in taxable income?
Replies: 96
Views: 9090

Re: Best way to lose $200 in taxable income?

CULater wrote: Sun Aug 05, 2018 4:37 pm I like the options idea. Just buy $200 in options and let them expire worthless unless I incur a gain of $400. But what can I buy for $200? Don't know much about options trading. I might want to wait until closer to end of year in order to get the amount exactly right but that would almost surely involve buying options with a very short expiration which is likely to be a sure loser (which is OK, but I like the idea of maybe lucking out by accident).
Wait 10 minutes before close, and buy SPY options that expire that day (expire Monday, Wednesday, and Friday). It will instantly fill, and your money will vanish.
by JStephens
Wed Aug 01, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Roth vs Traditional at Cusp of 32% Bracket
Replies: 15
Views: 1454

Re: Roth vs Traditional at Cusp of 32% Bracket

So it sounds like you're contributing to a 401k. Is that right? If so, your income is too high to deduct the IRA contributions and too high to contribute to a roth. You'll have to do a backdoor roth contribution.
by JStephens
Sat Jul 21, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card - Keep Getting Denied
Replies: 27
Views: 2706

Re: Credit Card - Keep Getting Denied

The Capital One Platinum card is a no cashback card and pretty much anyone can get it. Usually has a low limit (thinks it maxes out at $2,000).
by JStephens
Sun Jul 08, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: 401k loan to pay off debt?
Replies: 45
Views: 4331

Re: 401k loan to pay off debt?

I would say it's not worth it. The CC debt and the 7% auto debt should be going away by the end of the year, and those are the two big ticket items. I wouldn't pay off the 2% one early at all. Personally, I would probably keep doing cc transfers on the 7k until the student loans are paid off.
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: 393
Views: 68293

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

SrGrumpy wrote: Sat May 05, 2018 4:35 pm
mrc wrote: Mon Apr 30, 2018 11:56 am Enjoy MoviePass while it lasts ...

https://wapo.st/2HDNkgO?tid=ss_mail&utm ... 35c70dd82a
“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 will happen to Moviepass? The only thing you can do is enjoy it.

And yes, it's well established that movie theaters are essentially food vendors. The studios take at least half the ticket sales, so popcorn et al is where the action is. The person who paid $11+ for water should turn in his BH credentials.
Amazon was reinvesting into themselves. With this it's a straight up cash burn.
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: 1303

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: 831

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: Personal Investments
Topic: High Income no 401k option
Replies: 2
Views: 926

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: 4212

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: 16321

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-rich/

Basically the Husbands wealth is due to him getting a job at Amazon and holding the stock as it exploded.
by JStephens
Sun Apr 01, 2018 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in syndicated real estate deals
Replies: 11
Views: 2365

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 fifteen year period. Illiquid and no personal control , making bad events hard to watch. I decided that if I were to invest in real estate in the future it would be smaller projects I would own. I looked at a couple of these over the years but never invested in real estate again. Probably don t have the temperment for it. I do believe the above comments about the professional manager getting limited partners involved primrily to increase his take...
by JStephens
Tue Mar 27, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase - Sanity Check On Financials
Replies: 53
Views: 5743

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. New more senior position at the firm I’m at with equity stake is the reason for it. It had also doubled the year before. I’ve gone from $49,500 in 2010 to >$300 last year. What's Plan B if things don't work out with the firm? My worry is that salary would be nearly impossible to replace in the DFW area. Also what area do you work? Because I couldn't commit myself to an hour+ commute everyday. There's also just so many homes in the DFW area for 4...
by JStephens
Tue Mar 27, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase - Sanity Check On Financials
Replies: 53
Views: 5743

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. New more senior position at the firm I’m at with equity stake is the reason for it. It had also doubled the year before. I’ve gone from $49,500 in 2010 to >$300 last year. What's Plan B if things don't work out with the firm? My worry is that salary would be nearly impossible to replace in the DFW area. Also what area do you work? Because I couldn't commit myself to an hour+ commute everyday. There's also just so many homes in the DFW area for 4...
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: 32291

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

PatrickA5 wrote: Tue Mar 27, 2018 9:48 am
PatrickA5 wrote: Sun Mar 25, 2018 11:56 am
Gill wrote: Sun Mar 25, 2018 11:46 am 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 through.
The bank accepted the check as endorsed. Which makes me wonder - Does a human actually review how a check is made out and how it's endorsed if it's deposited online or through an ATM? Any bankers out there know the answer to that?
Checks are pretty much only looked at now when someone contests it clearing. Especially when done through an app or ATM. I've deposited checks to wildly wrong account names without an issue.
by JStephens
Sat Mar 24, 2018 10:22 am
Forum: Personal Investments
Topic: Treasury Bills vs. I-bonds vs. Intermediate-term tax-exempt muni bonds
Replies: 24
Views: 5346

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: 4113

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 is a HUGE benefit to have this scenario in a cross-tested projection) but EF insisted the other HCE should get the gateway minimum. HCEs don't need to receive the gateway minimum. It's an NHCE requirement only. This added approximately $20k!!(the entire PS contribution was estimated at only $93k) to the projected contribution amount. Again, only the owner's persistence with multiple replies caused EF to back down on their claim. We just started a ...
by JStephens
Thu Mar 01, 2018 9:35 am
Forum: Personal Finance (Not Investing)
Topic: one participant 401k deduction limits
Replies: 4
Views: 466

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 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 15746

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 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage with taxable investments
Replies: 5
Views: 959

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 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mango Money: 1099-INT Incorrect?
Replies: 7
Views: 972

Re: Mango Money: 1099-INT Incorrect?

seawolf21 wrote: Tue Jan 23, 2018 10:05 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 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Overwhelmed with how to handle taxes on large inherited portfolio.
Replies: 24
Views: 2585

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 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with tax plan - 250k family in Texas
Replies: 15
Views: 1869

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 2:58 pm
Forum: Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 3211

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 from investments, I'd rather not count on the yearly gifts as income as who knows if it'll flow in the following year. Our current monthly expenses for gas, car insurance, home insurance, cell phone, internet, youtube tv, health insurance, property tax is roughly $2,150 so that right there is pretty much half my income. Once i include groceries, sundries, activities for the kids, there isn't much left even for adding to investments. The previous par...
by JStephens
Thu Jan 04, 2018 2:09 pm
Forum: Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 3211

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

FunkytownInvestor wrote: Thu Jan 04, 2018 1:48 pm
JStephens wrote: Thu Jan 04, 2018 1:42 pm 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 invested in them. The limited partnerships are most likely worth more than I know/listed as statements aren't released regularly on what our equity share is.
This just seems overly conservative. Just based on your assets you don't really seem like spenders anyway. I'm going to assume your "slightly negative" cash flow is including maxing out most/all retirement vehicles?
by JStephens
Thu Jan 04, 2018 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 1138

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 account. My Solo 401k shows under it's login. I would not recommend doing this. You should really be mailing it with a check from your business, along with a contribution form. You could do it this way i suppose, but you would have to account for it by reimbursing yourself through the business. Unless your the type of business that doesn't separate personal bank accounts and business bank accounts. And in that case you probably love tangled up C...
by JStephens
Thu Jan 04, 2018 1:42 pm
Forum: Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 3211

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?