Search found 62 matches

by FordBiggs
Tue Oct 28, 2014 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Will I get taxed if family sends my bank $50K from abroad?
Replies: 10
Views: 1791

Re: Will I get taxed if family sends my bank $50K from abroa

Thanks all so much for your replies. Very helpful! And they gave me some peace of mind on this matter. This is confused. it sounds like money coming from the aunt is being used to buy property owned by the aunt*. So no gifts involved, dad and girlfriend are acting as agents and never own the money. ...
by FordBiggs
Mon Oct 27, 2014 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Will I get taxed if family sends my bank $50K from abroad?
Replies: 10
Views: 1791

Will I get taxed if family sends my bank $50K from abroad?

Hi guys, My girlfriend's aunt is sending her $50K to her bank account via a wire transfer from China. Her family just sold one of their properties in China and wants to buy one here in the US. From what she is telling me, she will withdraw the money and give it to her dad who will buy the property h...
by FordBiggs
Tue Mar 26, 2013 8:46 am
Forum: Personal Consumer Issues
Topic: Warning: Possible PayPal Phishing Attempt
Replies: 10
Views: 1529

Re: Warning: Possible PayPal Phishing Attempt

I heard phishing scammers actually "purposely" use bad grammar/spelling to filter out the not so intelligent people and focus their scams on gullible people. Apparently, even their time is precious. I've received a lot of these so everyone should just be extra careful and just remember that no websi...
by FordBiggs
Fri Mar 15, 2013 10:48 am
Forum: Personal Consumer Issues
Topic: What % of gross income do you spend on rent/mortgage?
Replies: 132
Views: 10578

Re: What % of gross income do you spend on rent/mortgage?

Wow. Most of the answers here are paying way lower than what I'm paying for rent and I have a feeling that most even have higher income. I'm paying 35% - such is the curse of living in NYC. (I'm also living in a mediocre, cheap but safe area) I would be paying even more if I lived in Manhattan! This...
by FordBiggs
Fri Mar 15, 2013 10:39 am
Forum: Personal Finance (Not Investing)
Topic: The Immigrant Money Curse
Replies: 20
Views: 1834

Re: The Immigrant Money Curse

In most third world countries bargaining when you buy stuff is second nature. That is something that is anathema to most Americans. The immigrants have a big advantage in this regard. When I travel overseas I am struck at how Americans pay any price asked without hesitation. I have an anecdote abou...
by FordBiggs
Fri Mar 15, 2013 10:22 am
Forum: Personal Finance (Not Investing)
Topic: The Immigrant Money Curse
Replies: 20
Views: 1834

Re: The Immigrant Money Curse

Characterizing them as "cursed" can go both ways but I can totally relate with this. I'm also an immigrant and my parents/family are 1st generation immigrants who are, as what others have mentioned, "hard wired for frugality". My grandma is an extreme example - she never wants to go to a salon or pa...
by FordBiggs
Fri Mar 01, 2013 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

Thanks so much for the amazing discussion guys! Seriously, each and everyone of your insights helped a lot. It's great to get some inside look on what actual physicians are going through now and during their med school days. After running the numbers again and thinking hard on what I really want to ...
by FordBiggs
Wed Feb 27, 2013 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

Thanks for all the insights guys. I've been reading through each and every reply and all of your personal experiences especially the ones who went through Med school and are now physicians help a lot. Overall, my biggest takeaway is that it's something I need to really think about before jumping the...
by FordBiggs
Tue Feb 26, 2013 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

I'm an ER doc. After going through the training, & having finished residency & been in practice for over 1/2 a decade, here are some of my thoughts. Training was hard, but clinical practice is even harder. I make good money & live comfortably, but I know I'll never be "rich," likely middle upper cl...
by FordBiggs
Tue Feb 26, 2013 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

you need to keep in mind that while people say they chose x specialty, its actually a match or competition for the spots. You arent guaranteed a specialty position by any means. For some of the fields we are talking about, only the top 10% of medical students (who typically are a fairly smart bunch...
by FordBiggs
Tue Feb 26, 2013 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

No; my scholarships were acquired via good college grades and a solid MCAT score. Don't poo poo the community college. Our class president took all his prerequisite science courses at a community college and is now a big time surgical specialist. That is actually very comforting to hear. I've been ...
by FordBiggs
Tue Feb 26, 2013 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

Thanks for the good insightful replies. As expected, some good and bad points whether its a good financial investment but ultimately, going to Med School shouldn't just be a financial decision which is really making this decision harder for me. I don't know if I can "endure" banging it out even if I...
by FordBiggs
Tue Feb 26, 2013 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Re: Is Med School still a good financial investment?

Salary depends on what you go into. I did one year internship and a 3 year anesthesia residency. I worked at a place that paid well and I worked every weekend for overtime my first two years plus we got a nice bonus depending on how many hours we put in. So I made around 600k my first 2 years, but ...
by FordBiggs
Tue Feb 26, 2013 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Is Med School still a good financial investment?
Replies: 123
Views: 12016

Is Med School still a good financial investment?

Hi guys, With the recent threads on Doctors/MDs earning very high salary with huge but also manageable student loans (as long as they live like a resident and focus paying off their debt), it got me to reconsider medical school again. I've always had this lingering feeling inside of me that I want t...
by FordBiggs
Mon Feb 18, 2013 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: 2012 Roth IRA deadline vs 2013 Roth IRA starting date
Replies: 13
Views: 2065

Re: 2012 Roth IRA deadline vs 2013 Roth IRA starting date

I've posted before in my older threads/questions that I'm filing as "Single" with no dependents. I'm only 23 (turning 24 this March) and hopefully won't be getting any dependents anytime soon :D
by FordBiggs
Mon Feb 18, 2013 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: 2012 Roth IRA deadline vs 2013 Roth IRA starting date
Replies: 13
Views: 2065

Re: 2012 Roth IRA deadline vs 2013 Roth IRA starting date

A regular 401k contribution will NOT work! Work contributions to a traditional 401k only count for the actual year they are made in, when deducted from weekly paychecks. So, you are done for 2012 in terms of 401k contributions. Your AGI for 2012 was $31,000. If you want the Saver's Credit ($200 cre...
by FordBiggs
Mon Feb 18, 2013 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: 2012 Roth IRA deadline vs 2013 Roth IRA starting date
Replies: 13
Views: 2065

Re: 2012 Roth IRA deadline vs 2013 Roth IRA starting date

If you contribute for 2012 to a Roth, then you don't need to do a thing, because Roth contributions do not affect AGI. EDITED , what was your AGI for 2012? If you fall below $28,750 AGI for 2012, then you will want to amend your 2012 return and claim the Savers Credit. See IRS form 8880. Oh! Great!...
by FordBiggs
Mon Feb 18, 2013 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2012 Roth IRA deadline vs 2013 Roth IRA starting date
Replies: 13
Views: 2065

Re: 2012 Roth IRA deadline vs 2013 Roth IRA starting date

Thanks for the quick reply HouseStark. If I do contribute to 2012 though, what happens to my taxes? I need to amend my taxes for 2012 right? (Honestly, I don't know if I would want to just because of the hassle and inconvenience) I know it was also my mistake for filling too fast and not thinking ab...
by FordBiggs
Mon Feb 18, 2013 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: 2012 Roth IRA deadline vs 2013 Roth IRA starting date
Replies: 13
Views: 2065

2012 Roth IRA deadline vs 2013 Roth IRA starting date

Hi guys. I've been planning to open up a Roth IRA with Vanguard and I'm finally going to open one now. (I had to establish my emergency fund first) My concern is that I already submitted my 2012 tax return to the IRS and it was already accepted. I'm now expecting to receive my refund within the next...
by FordBiggs
Tue Feb 12, 2013 11:01 am
Forum: Investing - Theory, News & General
Topic: moving pre-tax money to after-tax for free?
Replies: 40
Views: 3587

Re: moving pre-tax money to after-tax for free?

In real life, the IRS will call you down and have you explain your idea before they start disallowing it and fining you silly. If you sell and buy the same funds, its a wash. If you sell the S&P 500 and buy the Large Cap Index - no wash, and you'd be fine under current regulations to do so. Just to...
by FordBiggs
Sun Feb 10, 2013 1:02 am
Forum: Personal Finance (Not Investing)
Topic: How I Transfer Over $50k to Roth IRA Each Year
Replies: 25
Views: 8193

Re: How I Transfer Over $50k to Roth IRA Each Year

Thanks too for the detailed explanation archbish99. I guess this is really dependent on your company's 401k rules. I need to find out if mine offers these (even though I have a feeling they don't). Thanks again! :beer
by FordBiggs
Sat Feb 09, 2013 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: How I Transfer Over $50k to Roth IRA Each Year
Replies: 25
Views: 8193

Re: How I Transfer Over $50k to Roth IRA Each Year

But like the general public, a lot of folks are unaware of the opportunity and some folks just don't realize that after-tax contributions are different from Roth 401k contributions. First time I'm hearing this. Care to explain what's the difference between after-tax contributions to 401k from Roth ...
by FordBiggs
Fri Feb 08, 2013 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: A tax question [Filing status - Which is better]
Replies: 14
Views: 2440

Re: A tax question

I suggest you talk to someone else about tax matters other than your coworkers. I'm afraid they're wrong. It is only in unusual circumstances where MFS makes sense. Bruce Oops. Got it. I apologize to the OP for the incorrect information. :oops: As has been pointed out, that is incorrect. What proba...
by FordBiggs
Thu Feb 07, 2013 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: A tax question [Filing status - Which is better]
Replies: 14
Views: 2440

Re: A tax question

Just be careful though, I heard that once you file as Married Joint , you can never go back to filing as Married Separate . I'm not yet married so I don't have first hand experience with this but this is what was told to me so just be careful. Most of my coworkers who are married suggest to file Mar...
by FordBiggs
Fri Jan 25, 2013 7:04 pm
Forum: Local Chapters and Bogleheads Community
Topic: Happy Birthday Taylor
Replies: 81
Views: 8516

Re: Happy Birthday Taylor

Happy Birthday Taylor and congratulations! I'm pretty new here but have already gained much insight from the amount of time and effort you put to this forum. Also thanks for the Boglehead's Guide to Investment book! :sharebeer
by FordBiggs
Tue Jan 22, 2013 12:59 pm
Forum: Investing - Theory, News & General
Topic: The worst [investing] advice [you have received]
Replies: 64
Views: 7021

Re: The worst advice

"You don't want to get term life insurance; you need 'Permanent' insurance." This is the second worst investing advice I got which also prompted my very first post here in the forum asking about whether I should terminate my whole life or just stick with it since I already paid premiums for my firs...
by FordBiggs
Sat Jan 19, 2013 4:44 pm
Forum: Personal Consumer Issues
Topic: Philippines and sending money overseas
Replies: 11
Views: 1572

Re: Philippines and sending money overseas

Can they Paypal FROM the overseas country back to us in the US? Yes but they need to open a bank account. I suggest having your contact in the Philippines open a Unionbank EON Account. It's a cyber bank account that's specifically for connecting to PayPal. It has no maintaining balance but it does ...
by FordBiggs
Thu Jan 17, 2013 10:37 pm
Forum: Investing - Theory, News & General
Topic: If you were to start a mutual fund, what would you name it?
Replies: 38
Views: 2393

Re: If you were to start a mutual fund, what would you name

Make Money Like a Pornstar Fund (SEXXX) ER 0.69% Invest only in pornography conglomerates and strip club REITs. Advertising/Motto: "Barely legal investment returns." & "Good investing never felt so naughty." & "Higher returns never came so fast." Don't forget the annual shareholders meeting in Las ...
by FordBiggs
Thu Jan 17, 2013 10:14 pm
Forum: Personal Consumer Issues
Topic: Philippines and sending money overseas
Replies: 11
Views: 1572

Re: Philippines and sending money overseas

I'm not really sure what the best way is but I send money through Xoom. It's fast, convenient and cheaper compared to Western Union. They also have money back guarantee and great customer support (I've called them several times and you get connected to a call center in the Phils which is 24-7). I th...
by FordBiggs
Thu Jan 17, 2013 11:15 am
Forum: Investing - Help with Personal Investments
Topic: Berkshire Hathway B Fund - Fun Money - Worth It?
Replies: 36
Views: 3268

Re: Birkshire Hathway B Fund - Fun Money - Worth It?

When I went to Omaha this last summer for the College World Series, I had beers with some locals. One life long resident said that he was annoyed by many of the pilgrims for Buffet convention. He basically said the reason was so many of them were so frugal that they wouldn't spend money on anything...
by FordBiggs
Thu Jan 17, 2013 10:29 am
Forum: Investing - Help with Personal Investments
Topic: Berkshire Hathway B Fund - Fun Money - Worth It?
Replies: 36
Views: 3268

Re: Birkshire Hathway B Fund - Fun Money - Worth It?

jacoavlu wrote:one B share is all that is needed. It's a big annual event in Omaha. B shares are non-voting shares I believe
Wow. That sounds really cool. Thanks :sharebeer
by FordBiggs
Thu Jan 17, 2013 10:24 am
Forum: Personal Consumer Issues
Topic: Would you buy a used laptop?
Replies: 20
Views: 1602

Re: Would you buy a used laptop?

You might want to consider refurbished laptops instead of used ones if you're after cheap electronics. I remember reading a comment from reddit about why refurbished items can be a good buy. I'm an accountant and strongly recommend refurbished products. So... what does accounting have to do with it?...
by FordBiggs
Thu Jan 17, 2013 10:16 am
Forum: Investing - Help with Personal Investments
Topic: Berkshire Hathway B Fund - Fun Money - Worth It?
Replies: 36
Views: 3268

Re: Birkshire Hathway B Fund - Fun Money - Worth It?

if nothing else owning a little is fun bc you get a copy of the annual report and you can go to the annual meeting, browse at Borsheims, Warren even spends time there during the event selling jewelry, have a dinner at Gorat's, dessert at Dairy Queen, good times That is a very good point, but I assu...
by FordBiggs
Wed Jan 16, 2013 10:42 pm
Forum: Personal Consumer Issues
Topic: FAFSA Rules [Free Application for Federal Student Aid]
Replies: 19
Views: 2584

Re: FAFSA Rules

Heh. So the kid is ready to apply for college, parents get divorced, lower-income parent gets custody but they continue to live together, parents get remarried after college is done. Sounds like a plan to me. that would be considered 'gaming the system', I wouldn't recommend it. ;) Still very inter...
by FordBiggs
Wed Jan 16, 2013 3:48 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help for 23 year old
Replies: 42
Views: 4502

Re: Portfolio help for 23 year old

The posts above provided by Bob's... are a good back of the napkin estimate of taxable income. The absolute best way is to fill out your own tax forms. I re-read Bob's posts on the earlier part of this thread and everything is so much clearer now! lol :o $85,000 gross income - $2,500 pre-tax health...
by FordBiggs
Wed Jan 16, 2013 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help for 23 year old
Replies: 42
Views: 4502

Re: Portfolio help for 23 year old

What your tax bracket is, is irrelevant and not applicable to your employer. They withhold based on your withholding amount calculated by your W-4. Social Security and Medicare payroll taxes are based on your gross income (generally). Got it! I had to Google what a W-4 looks like and I do remember ...
by FordBiggs
Wed Jan 16, 2013 11:58 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio help for 23 year old
Replies: 42
Views: 4502

Re: Portfolio help for 23 year old

Hi Bob's not my name. Thanks for the detailed explanation. Sorry for the late reply as well. Honestly, I had a hard time digesting the information so I had to read up about them first. Also, I the child credits which you used as an example don't really apply to me yet (since I'm single @ age 23) and...
by FordBiggs
Sun Jan 13, 2013 11:44 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help for 23 year old
Replies: 42
Views: 4502

Re: Portfolio help for 23 year old

Is this true? This kind of blew my mind. And made me re-think my current distributions where I'm contributing to my ROTH 401k BUT this argument is leaning me towards Traditional 401k. Well, there seems to be a lot of discussion about this. One of the best posts I read is from this thread in 2010: h...
by FordBiggs
Sun Jan 13, 2013 9:10 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio help for 23 year old
Replies: 42
Views: 4502

Re: Portfolio help for 23 year old

I showed in a previous post Commutative Law of Multiplication that if the marginal tax rate at retirement is the same as it is now, the Traditional and Roth 401(k)’s are equivalent. If the marginal tax rate is higher now than in retirement, one is better off contributing to a Traditional 401k. If t...
by FordBiggs
Sun Jan 13, 2013 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: AMEX for 1% savings rate?
Replies: 20
Views: 2499

Re: AMEX for 1% savings rate?

What about the ability to withdraw money via ATM? (this might be going against your main objective of "saving" that you can easily access your funds but I like having a backup plan of accessing my funds asap in case of emergencies). ATM withdrawals are usually limited to a few hundred dollars a day...
by FordBiggs
Sun Jan 13, 2013 8:16 am
Forum: Personal Finance (Not Investing)
Topic: AMEX for 1% savings rate?
Replies: 20
Views: 2499

Re: AMEX for 1% savings rate?

Does anybody have any experience with AMEX or Ally for savings? What possible differences are there between one savings account and another besides the rate? They all transfer by ACH. All limit to 6 withdrawals per month by federal regulations. Rates are practically the same: - Ally 0.95% - AmEx 0....
by FordBiggs
Tue Jan 08, 2013 1:52 pm
Forum: Investing - Theory, News & General
Topic: How do you sell winners and buy losers when Rebalancing?
Replies: 22
Views: 1985

Re: Bogleheads Guide and Common Sense on Mutual Funds

FordBiggs: You have received good Replies to most of your questions. I'll answer this one: I'm seeing Bogle's Common Sense on Mutual Funds as also a good one and I might pick this up. Is this a more advance continuation from The Bogleheads' Guide to Investing ? In my opinion, your question contains...
by FordBiggs
Tue Jan 08, 2013 11:34 am
Forum: Investing - Theory, News & General
Topic: How do you sell winners and buy losers when Rebalancing?
Replies: 22
Views: 1985

Re: How do you sell winners and buy losers when Rebalancing?

OH WOW. I've been reading through all your replies and I feel so stupid for even asking this question. I guess I was making it more complicated than it really was. :oops: My thinking was I had to "keep track" and research which specific funds were the winners and losers to be able to do this correc...
by FordBiggs
Tue Jan 08, 2013 11:29 am
Forum: Investing - Theory, News & General
Topic: How do you sell winners and buy losers when Rebalancing?
Replies: 22
Views: 1985

Re: How do you sell winners and buy losers when Rebalancing?

OH WOW. I've been reading through all your replies and I feel so stupid for even asking this question. I guess I was making it more complicated than it really was. :oops: My thinking was I had to "keep track" and research which specific funds were the winners and losers to be able to do this correct...
by FordBiggs
Tue Jan 08, 2013 11:16 am
Forum: Investing - Theory, News & General
Topic: How do you sell winners and buy losers when Rebalancing?
Replies: 22
Views: 1985

Re: How do you sell winners and buy losers when Rebalancing?

Let's break it down first. Do you know how to sell any shares of any of your funds? Do you know how to buy shares of your funds? Do you know how to tell when you have a gain in a fund? Do you know how to tell when you have a loss in a fund? When I read your answers, I can answer better your questio...
by FordBiggs
Tue Jan 08, 2013 10:50 am
Forum: Investing - Theory, News & General
Topic: How do you sell winners and buy losers when Rebalancing?
Replies: 22
Views: 1985

How do you sell winners and buy losers when Rebalancing?

Hi Bogleheads :) So I've been really loving this forum and been coming back to it almost everyday. I've recently been reading/watching the Boglehead's Investment Philosophy and under the ASSET ALLOCATION stage, there's a tip that when you try to re-balance your allocations, it's always a good idea t...
by FordBiggs
Mon Jan 07, 2013 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Finally Debt Free..now what?
Replies: 25
Views: 3354

Re: Finally Debt Free..now what?

Congratulations! This is a great position to be in especially at your age and also be earning a pretty good monthly salary. I think most of the advice here are pretty spot on and just take advantage and max out all your tax-advantage accounts before investing in taxable accounts. Also, the most impo...
by FordBiggs
Thu Jan 03, 2013 10:07 am
Forum: Investing - Theory, News & General
Topic: Why do Vanguard and Fidelity have such weak passwords?
Replies: 86
Views: 8622

Re: Why do Vanguard and Fidelity have such weak passwords?

Vanguard disregards Capital Letters in Passwords. After reading your post, I tried to log in by changing some characters in my password to uppercase. To my horror, I was logged in! This is truly bizarre - much worse than I thought (simply a 10 character limitation). I just checked, Fidelity is not ...
by FordBiggs
Thu Dec 20, 2012 4:59 am
Forum: Personal Consumer Issues
Topic: Grinch [delivered package theft]
Replies: 40
Views: 4215

Re: Damm Grinch around my neighborhood

1. Should I report this to my local precinct? 2. Will the shipper(Amazon) reship another item? 3. Are postman suppose to put my mail inside the mail box instead of leaving my regular mail on the floor? 1 - Yes and it seems like you already plan to file a police report. 2 - Yes! I had the same exact...
by FordBiggs
Wed Dec 19, 2012 3:29 pm
Forum: Investing - Theory, News & General
Topic: "Don't Neglect Tax-Loss Selling as 2012 Winds Down"
Replies: 14
Views: 1967

Re: "Don't Neglect Tax-Loss Selling as 2012 Winds Down"

Capital gains or losses may be generated from the sale of stocks or mutual funds alike. In a taxable account losses from either one will produce a similar tax benefit. There is no benefit within a 401(k) or Roth. Got it! Thanks FrugalInvestor. Wrong. Mutual funds, ETFs, even bonds can all have capi...