Bogleheads.org

AllySK

Question. If you do multiple in-service rollovers in a year, will you get multiple 1099-R's? Related, should I limit the number of in-service rollovers I do in order to make tax time easier? Thanks!

AllySK

People like supporting things that already have a lot of support... I'd first make sure all active Bogleheads sign the petition - post a message on the homepage (temporarily) and/or send an email to all registered users. Then try to get personal finance bloggers/websites to pick it up. Lots of them ...

AllySK

It does, thank you!

AllySK

2) What special tax forms, if any, do I need if I do the mega back door? It depends on how you do it. If you send the money through tIRA before it goes into Roth IRA (not recommended) you will need a Form 8606 to document the conversion. If you just do direct rollover as mentioned above, it is hand...

AllySK

1) Should I go ahead and do a backdoor Roth IRA, or wait until the end of the year to see if I can go through the front door? (hah) I would do the backdoor now as long as you have no non-Roth IRAs. Yep, no traditional IRAs. 2) Would doing both a backdoor Roth IRA + mega backdoor Roth IRA make my ta...

AllySK

I'm considering doing both a backdoor Roth IRA and a mega backdoor Roth IRA in 2015. I haven't done either one before. Does anyone do this? Mega backdoor Roth IRA: I recently discovered that my 401k allows for in-service withdrawals of after-tax contributions and associated earnings (rollover into a...

AllySK

2231.34

AllySK

Not OP, but I might be in a similar situation later this year. What if I contributed $5500 to a Roth IRA at the beginning of this year that already had money in it? How would I know how much of the gain in the account is due to earnings on this year's $5500 contribution? I still have >$5500 in cash ...

AllySK

I'm doing this now (part-time MBA, just started this spring). Do you have a specific program in mind? The best way is probably to talk to people in that program. - In college, that was my main responsibility, and all day to focus on studies, etc. But working + grad school, what kind of challenges wo...

AllySK

I think your biggest priority right now should be "investing in yourself" - figuring out your career goals / how to grow your income. Here is a Mr. Money Mustache blog post about 50 jobs that can earn $50k without a college degree: http://www.mrmoneymustache.com/2013/07/25/50-jobs-over-500...

AllySK

Thank you, retiredjg . I think the TR fund bothers me sufficiently that I will implement my plan. Also, thanks gordon9775 for your earlier post. Since for future contributions, I won't be able to have enough weight in both my extended market fund and international fund in my Roth IRA, I will priorit...

AllySK

dbr , I understand where you're coming from. I think TR funds might be right for some people (I know some people who have absolutely zero interest in learning anything about investing - a position I can't relate to), but they're not for me, for reasons I listed above. Granular control? Let me ask y...

AllySK

RE: granular control of allocation by holding funds directly instead of using a target retirement fund. It's not because I want to tinker with the allocation. I'm perfectly happy with holding market weights. It's because target retirement funds are kind of a black box to me. I kind of have to trust ...

AllySK

I would keep the fund in your employer retirement plan and then move your roth to Vanguard and use the Vanguard Target Retirement fund in that account as well. The Vanguard funds are much more in line with your investing goals and have inside of them only: Vanguard Total Stock Market Index Fund Van...

AllySK

Hello! It's a little past the 1-year anniversary of when I discovered Bogleheads. About a year ago I decided to use the target retirement fund in my 401k so that I could manage the asset allocation between that and my Roth separately. I'm now thinking that I'm "advanced" enough (ha) to dit...

AllySK

I got the same email from Target, and wondered how they got my email address. Searched through my inbox, and it looks like I bought something from Target.com in 2009. Ha.

AllySK

1989.50

AllySK

Is money a real concern in NYC? That's 50-55k pretax and even though I will get subsidized housing and supplement from my emergency fund since this is a once in a lifetime experience I am still wondering whether I'll have more fun somewhere else if I can't afford NYC. I had to post because I think ...

AllySK

OP here. Sorry for not being responsive - been particularly busy these past few days. I appreciate all the comments (especially the personal anecdotes and advice about the documents needed). I've been talking to my mom and will post a more detailed follow-up later. She's completely confident that ev...

AllySK

You're proposing saving 50% of your take home pay and 100% of hers? (If I'm reading that correctly.) I think that may be a little TOO ambitious, but I think saving 50% of your combined take home pay is a great idea. I'm 24 and currently saving >50% of take home pay. I suggest you check out the Mr. M...

AllySK

Friend must sign a notarized Note for $40k @ 8percent payable in full in one year, and it should be recorded against the property. This is a very inexpensive procedure and well worth the cost. Thanks! Can you specify how it is "recorded against the property"? Is this something I can draft?

AllySK

I think loaning $40K to a friend is also a good way to lose a friend. What do you think will happen to the friendship in the event the friend defaults? Oh, I agree completely. I didn't want to rant too much in my OP, but I can't even begin to describe how bad of an idea I think this is. It's not li...

AllySK

Oh man. I was flipping out when I found this out. But I'm calm enough now (I think) to post and ask for advice. Here is the situation: My mom's friend of 30 years asked to borrow $40,000 to buy a house to fix up and then rent out. The total cost of the house was $340,000. They (friend+friend's husba...

AllySK

Sounds like it went great! Wish I could've made it. Wish I could have made it glad it went well! Was busy with my apartment hunt. Hoping the next meeting is not on 8/3 which will be the first saturday in August as I'm scheduled to take the GMAT! I also can't make 8/3 - will be out of town that weeke...

AllySK

Hm, looks like there will be severe thunderstorms Thursday night. Maybe the meetup should be pushed back?

AllySK

Welcome! Here's my $.02. Desired Asset Allocation - ??? unsure to be honest as we may wish to use a large portion of savings in ~5 years to purchase a home I'd think of your retirement portfolio (401ks+Roth IRA) as distinct from your house fund (taxable). You should do some research and figure out a...

AllySK

dance873 wrote:(Next year, I will be an attending, and will not qualify for Roth.)

Look up the backdoor Roth IRA if you haven't already: http://www.bogleheads.org/wiki/Backdoor_Roth_IRA

AllySK

I think you should focus on your upcoming MBA expenses. I would figure out how much the MBA will cost total, and how much you will have saved in a taxable account in 2-3 years if you continue what you're doing. I believe the cheapest graduate student loan you can get is at 6.8% interest, and there's...

AllySK

Count me in for the NYC chapter. As to a meeting place, bars tend to be noisy an dark. In addition, Manhattan bars and coffee shops tend to get impatient when people sit together for a long time without buying a lot on the menu. Could I suggest that you call the NY Public Library branch called the ...

AllySK

I'd be interested in meeting up! I also vote coffee shop or somewhere we can hear each other. Maybe even outdoors?

AllySK

This thread has inspired me to write down my IPS. I have an Excel spreadsheet where I track my balance sheet, asset allocation, budget, etc., but I've never formally written down my IPS. I've had it floating around in my head for a little while, but actually writing it down has been fun and helpful ...

AllySK

Unfortunately, the American Express bank and American Express credit card company have two separate websites - so you need two separate logins. I know because I have both a savings account and credit card with them. I've had the savings account for a few months now and have only put money in, but it...

AllySK

One thing about I Bonds that I've seen people point out is that they might not be good idea for people in their 20s. You defer taxes for up to 30 years, but then you pay taxes on them when you're in yours 50s (55 in your case), which might be some of your peak earnings years. You could choose to pay...

AllySK

Just wanted to thank everyone for your responses and give an update. Paid off all but a small balance of the student loan, which I'm keeping open 1) to help my credit score by having an installment loan, 2) so I can redeem rewards points from my credit card at full value (student loan rebate). In my...

AllySK

Bob's not my name , great post, thank you. I read your articles and this paragraph in particular struck me: If a young couple chooses Roth IRAs when at least one is eligible for a deductible traditional IRA or they are not maxing out traditional 401k’s, they are assuming the next half century of th...

AllySK

The after-tax value on the traditional 401(k) balance depends on her income and tax rate at the time of withdrawal. Typically, income goes down in retirement. The rate at which her withdrawals from 401k are taxed is at ordinary income tax rates (i.e. the first $8928 of income is taxed at 10%, etc.)...

AllySK

Since we're debating the effects of tax rate on the Roth/traditional choice here (with good arguments on both sides), we ought to get some precision on your income level. I left it vague mostly because I don't know for sure yet what my 2013 total income will be. (Find out about compensation early n...

AllySK

In the federal marginal 25% bracket, you pay federal 15% on the Qualified Dividends. You probably pay state and city tax as well. I don't know the tax code in NY, so I assumed a full 10% (city and state) rate on the dividends (it may be less). So, 15% fed + 10% state is 25%. These are the annual ta...

AllySK

But you must think about what's going to happen to the tax savings. It's going to go into a taxable account. You will pay taxes on the 9631 leaving about 6200. Going forward, you will have to pay taxes on the earnings and/or CG of this account. Generally, tax efficient stocks yield > 2% and you wil...

AllySK

Hey AllySK, My personal stance is that I do not invest in fund-of-fund type investments. Not only do you directly pay the ER on your fund, but you are also losing the ERs of all the funds that your fund holds. I think it is much more efficient to spend the extra 30 minutes per year managing your ow...

AllySK

Hello and welcome to the forum! The Blackrock Lifepath funds are very diversified and indexed. The proprietary model revolves around the investment management company's model of how to proportionally distribute assets in a manner for each of the targeted years that will be most likely to succeed in...

AllySK

Hi! I've been reading the Wiki and lurking on these forums for a little while now, and I've learned so much! Thank you all. I have some questions about my portfolio that I'm hoping to get some Bogleheads advice on. :) Income: >80k Emergency funds: Three to six months of expenses - check Debt: studen...

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