Search found 8323 matches

by mhalley
Sat Sep 26, 2020 10:11 pm
Forum: Personal Investments
Topic: Help with my daughter’s Roth IRA.
Replies: 4
Views: 561

Re: Help with my daughter’s Roth IRA.

My understanding is that stipends are not earned income, so no Roth eligibility. . Because stipends are awards and not wages for services, Social Security and Medicare taxes are not withheld. Stipends are still considered taxable income, though. It’s important to note that recipients of a stipend ar...
by mhalley
Sat Sep 26, 2020 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay off a 1.5% school loan
Replies: 27
Views: 1884

Re: Would you pay off a 1.5% school loan

FINANCIALLY, paying off the debt is a mistake. BUT this is PERSONAL finance and has a lot to do with you YOU feel about debt. The mathematical answer is to never pay a penny extra on this. Whether that is right for you is your gut feeling on how you will feel to wake up with no debt whatsoever. Of c...
by mhalley
Sat Sep 26, 2020 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Retired physicians (but others ok too. ;))
Replies: 55
Views: 5712

Re: Retired physicians (but others ok too. ;))

I retired about 5 yrs ago. I let the DEA aspect lapse, but kept the state license in case I had to write the occ rx. My CME is taken care of by the free medical publication I get due to being retired. Licensure costs about $300 a year. Will probably let it lapse next go round.
by mhalley
Tue Sep 22, 2020 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Insurance (Life vs Term) for cancer
Replies: 13
Views: 1266

Re: Purchasing Insurance (Life vs Term) for cancer

Term life is the only life insurance that is acceptable for 99% of people. You can go online for the shopping. Disability insurance is important as u are 3 times more likely to become disabled as opposed to dying before age 65. Get the more checked ASAP as if there is something there, the sooner dia...
by mhalley
Tue Sep 22, 2020 3:30 pm
Forum: Non-US Investing
Topic: Alternatives to cash
Replies: 9
Views: 1079

Re: Alternatives to cash

In these times, a larger emergency fund would seem prudent, so six mo minimum imho. How much interest this makes is immaterial, it just needs to be liquid. Money to be used within 5 years should be saved, not invested, so I would go with a cd ladder. If you could afford to lose some of it you could ...
by mhalley
Tue Sep 22, 2020 12:48 pm
Forum: Personal Investments
Topic: Few questions on backdoor Roth
Replies: 10
Views: 502

Re: Few questions on backdoor Roth

If you are over the limit for doing a regular roth, the traditional IRA needs to be zero by Dec 31 to make a backdoor roth possible. You can do this by rolling it into a roth and paying taxes, or by rolling it into a current employers 401k. Remember that the 6k limit is for you and your spouse, so 1...
by mhalley
Tue Sep 22, 2020 12:44 am
Forum: Personal Investments
Topic: Wife has 401K Required Revenue fees. Is this normal and can someone look at her fees
Replies: 5
Views: 731

Re: Wife has 401K Required Revenue fees. Is this normal and can someone look at her fees

The fees are high, but as the above referenced wiki article says, it is still worth contributing to until the fees reach 1.7% depending on your tax bracket etc. A 529 account is not a retirement account so it is not equivalent. With those fees, I would contribute to the match, then max out Roth and ...
by mhalley
Mon Sep 21, 2020 8:07 pm
Forum: Personal Consumer Issues
Topic: Why buy medical insurance ?
Replies: 113
Views: 7295

Re: Why buy medical insurance ?

You can’t predict how much medical costs will be because of the possibility of catastrophic illness or injury. You can get hit by a bus or have a heart atttack or cancer diagnosis out of the blue. If that happens, you can probably get treated, but it could result in bankruptcy and facing living only...
by mhalley
Mon Sep 21, 2020 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare supplement and advantage question
Replies: 11
Views: 596

Re: Medicare supplement and advantage question

A few of them cover hearing aids. You might check with one of the Medicare brokers like boomer benefits, they might have the info you are looking for. https://boomerbenefits.com/?gclid=Cj0KCQjwnqH7BRDdARIsACTSAdtithSlwtVCAJXQNLIHbWYtcx1UYSg74EM_ATrfOofdWlLdmxILGVAaAtldEALw_wcB I found this at https:...
by mhalley
Mon Sep 21, 2020 2:16 pm
Forum: Personal Investments
Topic: Reduced MAGI after backdoor Roth
Replies: 3
Views: 236

Re: Reduced MAGI after backdoor Roth

Yes, you can proceed with the backdoor just in case you have unexpected income that boosts you above the Roth threshold.
by mhalley
Tue Sep 15, 2020 1:33 am
Forum: Investing - Theory, News & General
Topic: Take AAPL out of rollover 401K?
Replies: 2
Views: 373

Re: Take AAPL out of rollover 401K?

Switching some or all of the aapl is certainly reasonable if you still believe in the stock. Keep in mind that owning a single stock is risky, and you should keep it below 10% of your portfolio.
by mhalley
Sun Sep 13, 2020 8:32 pm
Forum: Personal Investments
Topic: Thanks in advance [investing inheritance]
Replies: 12
Views: 748

Re: Balanced Vanguard or pick Total Stock and Total Bond

It is better to have individual funds in taxable account as you have the opportunity for tax loss harvesting in the event of a correction.
https://www.bogleheads.org/wiki/Tax_loss_harvesting
by mhalley
Sun Sep 13, 2020 8:07 pm
Forum: Personal Investments
Topic: Better late than never
Replies: 11
Views: 1825

Re: Better late than never

You are paying too much in fees. The go to funds around here are low ER passive index funds, specifically a total stock market, total international stock market and total bond market fund. You could move your iras to fidelity, Vanguard or Schwab to get the best deal. As for the 401k, you could just ...
by mhalley
Sun Sep 13, 2020 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: What Method of paying cash for car: EFT vs check?
Replies: 31
Views: 1821

Re: What Method of paying cash for car: EFT vs check?

Most dealers will have a max on how much they will allow you to put on a cc. Remember it costs them money in processing fees to accept the cc. I think the last time I used a cc they would accept 3k and paid the rest by check.
by mhalley
Sun Sep 13, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Gifting Money to Daughter from Grandma's Inheritance (income tax/capital gains tax question)
Replies: 19
Views: 1374

Re: Gifting Money to Daughter from Grandma's Inheritance (income tax/capital gains tax question)

There’s a big difference between 300k and 500k tax bracket. If there is no need for a lump sum, gifting the money over several years could save quite a bit on taxes.
https://www.bankrate.com/finance/taxes/ ... ckets.aspx
by mhalley
Sat Sep 12, 2020 2:02 pm
Forum: Personal Investments
Topic: Guidelines for easy portfolios
Replies: 4
Views: 388

Re: Guidelines for easy portfolios

ETFs vs mf is a personal choice. I have some of each. With ETFs, you have to worry about daily fluctuations in price. But you can easily transfer them to another brokerage, and they are slightly cheaper than mf. Check out the wiki for further test info. https://www.bogleheads.org/wiki/ETFs_vs_mutual...
by mhalley
Thu Sep 10, 2020 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Old friend joined Northwestern Mutual -- how to politely explain they're awful
Replies: 87
Views: 6697

Re: Old friend joined Northwestern Mutual -- how to politiely explain they're awful

It’s one thing to tell someone that investing with nvm is a bad idea, but a totally different thing to tell someone that their job and career is horrible and they should find a new career. I would say congrats on your new job, not my thing but you be u.
by mhalley
Mon Sep 07, 2020 11:57 pm
Forum: Investing - Theory, News & General
Topic: Help with citing Jack Bogle
Replies: 2
Views: 427

Re: Help with citing Jack Bogle

I haven’t read it, but I think this book is the one that recounts the founding.
https://www.amazon.com/Stay-Course-Stor ... 8&me=&qid=
by mhalley
Sun Sep 06, 2020 5:06 pm
Forum: Personal Investments
Topic: How to transfer a Roth 401k into Roth IRA and taxes
Replies: 6
Views: 586

Re: How to transfer a Roth 401k into Roth IRA and taxes

Most 401ks have a minimum balance in order to maintain the account. 1.5 k is most likely below the minimu, so it would need to be rolled over to an ira or your current. 401k.
by mhalley
Sun Sep 06, 2020 3:54 pm
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 7783

Re: Do I really own anything if everything can require a Medallion signature which I can never get?

If you ever need an MSG, you can search for how to get one here

http://www.msglookup.com/index.html

As many banks require you to be a member for 60 days before you can get one, you might go ahead and open an account now if you are concerned about the MSG.
by mhalley
Thu Aug 27, 2020 2:27 am
Forum: Personal Consumer Issues
Topic: password manager for a couple
Replies: 16
Views: 1176

Re: password manager for a couple

I don’t like the idea of all my passwords being in the cloud, so i use an app based on KEEPass. It stores the data locally instead of online. You could email or put the password file on Dropbox or google drive when a change is made, then delete after downloaded.
by mhalley
Sat Aug 22, 2020 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Simplifi by Quicken Vs YNAB
Replies: 6
Views: 1194

Re: Simplifi by Quicken Vs YNAB

YNAB and fidelity worked fine for the last yr and a half, it is only recently that it is a pain. I’m talking about the CMA, not the CC.
by mhalley
Fri Aug 21, 2020 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare and HSAs - Can You Avoid the Six Month Look Back Period?
Replies: 14
Views: 1520

Re: Medicare and HSAs - Can You Avoid the Six Month Look Back Period?

You can’t tell SS when you want Medicare to start. Since you did not start Medicare at 65, your Medicare will be retroactive to 6 month prior to the date you start SS. Since there is no advantage to delaying SS PAST 70, so stop HSA Contributions 6 mos before you turn 70.
by mhalley
Fri Aug 21, 2020 10:00 pm
Forum: Personal Investments
Topic: Newly married - Applying Asset Allocation across multiple accounts?
Replies: 4
Views: 487

Re: Newly married - Applying Asset Allocation across multiple accounts?

The wiki has an article on this. With a portfolio allocator, you can do it however you want. https://www.bogleheads.org/wiki/Asset_allocation_in_multiple_accounts There IS a difference and asset location does matter. In general, you want stocks in Roth and taxable, bonds in trad ira/401k. You can pu...
by mhalley
Fri Aug 21, 2020 9:51 pm
Forum: Personal Investments
Topic: Investing w/o employer assistance
Replies: 18
Views: 1339

Re: Investing w/o employer assistance

Yoi want to look at the aa of your entire portfolio and adjust accordingly. In general, you want the highest appreciating assets to be in the Roth, so this means putting the bonds in taxable. They are paying such a low rate at this time, the income from them shouldn’t be too much of a tax burden. St...
by mhalley
Thu Aug 20, 2020 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Medicare and HSAs - Can You Avoid the Six Month Look Back Period?
Replies: 14
Views: 1520

Re: Medicare and HSAs - Can You Avoid the Six Month Look Back Period?

My understanding is that you need to be very specific when applying for SS, and include a statement in the comments such as the one below. This is only regarding the dollar benefit, not Medicare. How do I ensure I'll actually file as intended? Regardless of how you apply, make sure that the Remarks ...
by mhalley
Mon Aug 17, 2020 11:54 pm
Forum: Personal Investments
Topic: Roth IRA Contribution
Replies: 7
Views: 785

Re: Roth IRA Contribution

Do you have money in a traditional ira? If not, consider a backdoor roth.
https://www.bogleheads.org/wiki/Backdoor_Roth
If ineligible for the backdoor, here is an agi calculator
https://blog.taxact.com/adjusted-gross- ... alculator/
by mhalley
Mon Aug 17, 2020 10:45 pm
Forum: Personal Investments
Topic: Inherited 401k and 529
Replies: 3
Views: 378

Re: Inherited 401k and 529

You can’t roll it into the 529. But you can withdraw the money, pay the taxes and then put it into the 529.
by mhalley
Thu Aug 13, 2020 1:16 am
Forum: Personal Finance (Not Investing)
Topic: 22 year Old. Needs recommendation to get first credit card.
Replies: 26
Views: 1373

Re: 22 year Old. Needs recommendation to get first credit card.

Remember to keep your utilization below 30%. If you have a small limit it might not take much activity to exceed it. Paying the bill in full each month does not affect this. I have tried several methods of paying bills over the years, what works for me is I get the bill, go immediately to the app an...
by mhalley
Tue Aug 11, 2020 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Lawyers - How much does it cost to write a prenup contract?
Replies: 48
Views: 5973

Re: Lawyers - How much does it cost to write a prenup contract?

Google says $2500 is average. But supposedly the other party needs one done by a different lawyer.
by mhalley
Tue Aug 11, 2020 3:03 pm
Forum: Personal Investments
Topic: What to do with 457b money after switching jobs?
Replies: 10
Views: 700

Re: What to do with 457b money after switching jobs?

You don't want to roll it to an IRA as that will preclude doing the backdoor roth in the future. Why do you need to do something with it? I believe 457 plans have some special withdrawal rules, so if the funds available are ok, you might want to keep it. https://www.goodfinancialcents.com/457-plan-r...
by mhalley
Tue Aug 11, 2020 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Any Tips for "Splitting" Finances in Married Couples?
Replies: 32
Views: 3284

Re: Any Tips for "Splitting" Finances in Married Couples?

Not related to marriage, but she should have a seperate cc and checking account for the business. This would make everything much "cleaner". When I was married, we had a joint savings account and both had a checking account. She didn't work, so I gave her so much money each month to do with as she w...
by mhalley
Mon Aug 10, 2020 11:26 pm
Forum: Personal Consumer Issues
Topic: Persistent Internet Outages - should I upgrade to Comcast Business
Replies: 41
Views: 2113

Re: Persistent Internet Outages - should I upgrade to Comcast Business

As a last ditch effort, try replacing the coax cable to the modem, including the one inside the wall.
by mhalley
Sat Aug 08, 2020 9:56 pm
Forum: Personal Investments
Topic: Keep investing or pay off some debt?
Replies: 14
Views: 1278

Re: Keep investing or pay off some debt?

Mathematically, it doesn’t make sense to pay down such low interest rate loans. But this is personal finance, and there is more to it than just the numbers. Being out of debt is a great feeling. If you are otherwise saving at least 20% towards retirement, putting some towards the debt is fine. I agr...
by mhalley
Fri Aug 07, 2020 1:25 pm
Forum: Personal Investments
Topic: Using the TSP G fund as our source of retirement withdrawals
Replies: 9
Views: 680

Re: Using the TSP G fund as our source of retirement withdrawals

What does drawing down the G fund do to your AA? Yield is not the main reason you want to have a certain percentage in fixed income. They are there to stabilize the portfolio. 10 years seems like a lot in that, but each person needs to determine the AA that lets them sleep at night, and 10 years doe...
by mhalley
Wed Aug 05, 2020 4:18 pm
Forum: Personal Investments
Topic: Bond Fund Outside IRA: Reinvest Dividends?
Replies: 4
Views: 372

Re: Bond Fund Outside IRA: Reinvest Dividends?

I prefer to not reinvest stock or bond funds in taxable accounts. This makes taxes a little simpler, ie not as many tax lots, plus allows adjustment of aaa, plus prevents problems with tax loss harvesting.
by mhalley
Tue Aug 04, 2020 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Unclaimed property
Replies: 2
Views: 393

Unclaimed property

I was looking at my states unclaimed property website and noticed my name ( I think I know what that is so I will be filing a claim for that). I also noticed the name of my uncle who died 20 years ago, and also his name on a family trust, ie the John and Jane Doe family trust. (Jane is also deceased...
by mhalley
Sun Aug 02, 2020 10:26 pm
Forum: Personal Investments
Topic: Backdoor Roth IRA screwup - help...
Replies: 5
Views: 459

Re: Backdoor Roth IRA screwup - help...

You can only CONTRIBUTE 6k a year to an ira. You can CONVERT to ROTH as much as you want, you just have to pay the taxes.
by mhalley
Sun Aug 02, 2020 2:36 pm
Forum: Personal Investments
Topic: Backdoor Roth IRA screwup - help...
Replies: 5
Views: 459

Re: Backdoor Roth IRA screwup - help...

No, you pay tax on 1$. Convert the remainder to keep the problem from getting bigger. WCI has a good discussion of the subject.
https://www.whitecoatinvestor.com/penni ... -roth-ira/
by mhalley
Sun Aug 02, 2020 12:17 pm
Forum: Personal Investments
Topic: Backdoor Roth IRA possible if 401K (Emp+Emplr) = 63.5K ?
Replies: 5
Views: 312

Re: Backdoor Roth IRA possible if 401K (Emp+Emplr) = 63.5K ?

IRa and 401k limits are separate, so maximum contribution to the Backdoor Roth is fine.
by mhalley
Thu Jul 30, 2020 8:12 pm
Forum: Personal Consumer Issues
Topic: Elementary school in Fall - choose Virtual or In-person
Replies: 120
Views: 8539

Re: Decision Model: How do you decide to send kids back to school ?

I would decide based on the risk of people the kids could expose if they got the disease. If there is anyone in the household that has any of the major risk factors, then no school till vaccine. If parents are young and healthy, no comorbiity, no grandparents that come in contact (caregiver, visitor...
by mhalley
Wed Jul 29, 2020 5:13 pm
Forum: Investing - Theory, News & General
Topic: Investment account for children
Replies: 9
Views: 493

Re: Investment account for children

You have several options. One is to just save money in your name, in a separate account if you want, then gift it to the children as needed/wanted. The other us a universal gift to minors account, which saves a little in taxes, but at the age of majority it is the child’s money to spend how they ple...
by mhalley
Tue Jul 28, 2020 11:36 pm
Forum: Personal Consumer Issues
Topic: Modem and Router (C4000XG vs Asus RT-AC68U)
Replies: 10
Views: 1155

Re: Modem and Router (C4000XG vs Asus RT-AC68U)

Im a big fan of the ASUS, used one for years. You already have it and know it’s performance. If you have to pay for the new one, then go with the ASUS. If not, you might test the speeds where you use your devices before switching.
by mhalley
Tue Jul 28, 2020 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Selling large amount of fund in non-retirement account...questions on capital gains owed.
Replies: 4
Views: 743

Re: Selling large amount of fund in non-retirement account...questions on capital gains owed.

Remember taxes aren’t the only thing to think about, if she is on Medicare she needs to watch out for irmaa limits. It sounds like she is far from those, but just so you are aware.
https://www.ssa.gov/forms/ssa-44-ext.pdf
by mhalley
Mon Jul 27, 2020 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Simplifi by Quicken Vs YNAB
Replies: 6
Views: 1194

Simplifi by Quicken Vs YNAB

Quicken is a popular finance program often mentioned on the site, as is YNAB. I have been using YNAB for a couple of years now, and like it a lot, but recently it seems there is always a problem connecting to my Fidelity CMA and my CC account, have to manually reconnect them etc. I noticed Quicken h...
by mhalley
Sat Jul 25, 2020 10:11 am
Forum: Personal Investments
Topic: Is my company’s 401k plan squeezing my colleagues and myself out of more favorable returns?
Replies: 28
Views: 2799

Re: Is my company’s 401k plan squeezing my colleagues and myself out of more favorable returns?

They are right in that someone has to pay the fees, but you are right in that they are charging you too much. In general, insurance companies are horrible 401k companies. The question is, why did your company choose these guys? Lots of times it’s one of the cos big wigs golfing buddy’s suggestion. L...
by mhalley
Sun Jul 19, 2020 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Power of Attorney? Spouse too Busy.
Replies: 35
Views: 3042

Re: Power of Attorney? Spouse too Busy.

I guess I’ll be the bad guy here. This is HER money, and she isn’t taking care of it. No one is that busy. Maybe I’m wrong and she’s running a Fortune 500 company working 16 hour days, but most likely she is just not interested. I tried for many years to get my wife to take an interest in our financ...
by mhalley
Thu Jul 16, 2020 11:14 pm
Forum: Personal Investments
Topic: My Father in Law gave me $1000 to buy stock/securities
Replies: 20
Views: 2374

Re: My Father in Law gave me $1000 to buy stock/securities

Vtsmx is the investor class which has been discontinued, rolled into the admiral class which is vtsax. (Total stock market index fund). I would suggest opening an ira and buying a target retirement fund if this money is for retirement. If for a taxable account and to be used greater than five years ...
by mhalley
Wed Jul 15, 2020 7:46 pm
Forum: Personal Consumer Issues
Topic: Personal Shopping Service with out of state delivery?
Replies: 12
Views: 657

Re: Personal Shopping Service with out of state delivery?

Taskrabbit lists shopping as one of the things they help with. https://www.taskrabbit.com/ Flexible locations & delivery times Taskers can visit as many stores and pickup as many items as you need. Need something at a particular time? Taskers are available as early as today, or schedule ahead up to ...