Search found 50 matches

by aum
Tue Sep 17, 2019 9:00 am
Forum: Personal Investments
Topic: Rolling Roth 401k money out - "rollover Roth?"
Replies: 4
Views: 324

Re: Rolling Roth 401k money out - "rollover Roth?"

You can roll Roth 401K to your existing Roth IRA. There is no advantage to open another Roth for rollover purpose. I did exactly what you are trying to do now in past and that too was with Fidelity. My 401K plan administer knew which one was pre tax 401K and which one was Roth 401K and one phone cal...
by aum
Wed Sep 11, 2019 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Lending to friend to India
Replies: 54
Views: 4022

Re: Lending to friend to India

OP: As many have mentioned here - Dont do it and they are 100% right. I too am from India and have been living in US for past 35 years. Here is my story.... Year 1998: My childhood friend from India rings me and tells me he urgently needs 100K. I had just closed on my new house and I had no cash. H...
by aum
Wed Sep 11, 2019 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Lending to friend to India
Replies: 54
Views: 4022

Re: Lending to friend to India

OP: As many have mentioned here - Dont do it and they are 100% right. I too am from India and have been living in US for past 35 years. Here is my story.... Year 1998: My childhood friend from India rings me and tells me he urgently needs 100K. I had just closed on my new house and I had no cash. He...
by aum
Wed Aug 28, 2019 5:29 pm
Forum: Personal Consumer Issues
Topic: Maui Honeymoon Daily Spending Budget
Replies: 39
Views: 2841

Re: Maui Honeymoon Daily Spending Budget

if you wan to save money on sight seeing, buy this app...> https://gypsyguide.com/tour/maui/ it saved us bundles when we were in Hawaii for 16 days three years ago,
by aum
Mon Aug 26, 2019 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Following ACA subsidy range for a low income 55 till 65
Replies: 15
Views: 1358

Re: Following ACA subsidy range for a low income 55 till 65

Qualified Roth IRA distribution(at/after age 59.5) do not count towards obamacare MAGI.
by aum
Sun Mar 03, 2019 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: How will cancelling ACA healthcare mid year effect subsidy?
Replies: 17
Views: 1508

Re: How will cancelling ACA healthcare mid year effect subsidy?

If your COBRA costs change because your former employer stops contributing and you must pay full cost - Yes, you can change — you qualify for a Special Enrollment Period. I had done that in May 2017. As part of separation package, company provided six months of health insurance and paid 2/3 of the ...
by aum
Sun Aug 19, 2018 8:44 am
Forum: Personal Investments
Topic: Retirees: Timing your withdrawals
Replies: 45
Views: 5070

Re: Retirees: Timing your withdrawals

Once a year in first week of January , I withdraw and re balance my portfolio.
by aum
Sun Aug 19, 2018 8:40 am
Forum: Personal Investments
Topic: Short term bond fund for emergency fund?
Replies: 3
Views: 632

Re: Short term bond fund for emergency fund?

Yes. Thats what I've in Vanguard's VWSUX.
by aum
Fri May 11, 2018 8:10 am
Forum: Personal Investments
Topic: Using Vanguard Wellesley for Emergency Fund $30k, reinvest dividends in taxable???
Replies: 9
Views: 1931

Re: Using Vanguard Wellesley for Emergency Fund $30k, reinvest dividends in taxable???

That's where I have my ef also. I've been doing that for three years. I am retired so little bit of tax inefficiency will not hurt in my case. I've div/cg reinvested but will change to keep tax loss harvest simple.
by aum
Tue May 08, 2018 3:17 pm
Forum: Personal Consumer Issues
Topic: Trugreen for mosquitoes
Replies: 6
Views: 906

Re: Trugreen for mosquitoes

It didnt work for me and it was expensive treatment from Truegreen. I had them last year and even though they came twice a month, mosquito never went away. I instead bought Thermacell and it works lot better.
by aum
Mon Apr 30, 2018 8:44 pm
Forum: Personal Investments
Topic: Newbie - 529 Help
Replies: 18
Views: 1813

Re: Newbie - 529 Help

OP - I put a lump sum of 25K when each of my kids were born and then setup a monthly 250/kid in their 529 plan. I would not worry too much about over funding if you can afford to put 150K all at once. If you've another kid, you can always split this amount or if kid decides not to college - you can ...
by aum
Mon Apr 30, 2018 8:12 pm
Forum: Personal Investments
Topic: How do you know when you have "won the game"?
Replies: 142
Views: 19615

Re: How do you know when you have "won the game"?

OP: Plan was to retire at 55 with 3.5M but my company had a re-org and I had a pay cut so I decided to quit and retire at age 52 with 3M in Dec 2016. 3M did not include Kids' college education(separate in 529) and paid off house value about 700K. The way I calculated winning the game was - have 3% c...
by aum
Fri Apr 20, 2018 8:59 am
Forum: Personal Investments
Topic: Pay for medical school or Roth conversion
Replies: 15
Views: 1277

Re: Pay for medical school or backdoor Roth

I would go with Roth IRA conversion and take a loan for Medical college. Being in lower tax bracket for four years, you will pay very little tax on conversion. Tax Free and another six/seven(including residency) years of compounding will do wonders to your portfolio....great base for early retiremen...
by aum
Sat Apr 07, 2018 5:12 pm
Forum: Investing - Theory, News & General
Topic: VWIAX and VGWIX equivalent Vanguard fund or ETF
Replies: 2
Views: 651

Re: VWIAX and VGWIX equivalent Vanguard fund or ETF

Thanks lack_ey. Fund in taxable is just temporary which will be depleted over coming four years. I sell it once a year to pay for my kids’ private school and remaining stays there. I wanted to get better return than money market so parked my money here. I know the risk and tax implication but willin...
by aum
Sat Apr 07, 2018 2:09 pm
Forum: Investing - Theory, News & General
Topic: VWIAX and VGWIX equivalent Vanguard fund or ETF
Replies: 2
Views: 651

VWIAX and VGWIX equivalent Vanguard fund or ETF

I want to sell and realize 3K loss between Wellesly and Golbal Wellesly funds. Which other similar fund/etf I can buy temporarily to park money to lock in this loss and buy back these funds. How many days I need to wait to buyback these funds?
by aum
Sun Apr 01, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing from a Roth Account for ACA Subsidy Reasons
Replies: 7
Views: 1044

Re: Withdrawing from a Roth Account for ACA Subsidy Reasons

If your wife gets a part time job and can get paid on 1099 then you can deduct above the line Self Employed Insurance payment which will be your portion of ACA premium plus dental insurance you pay. So that 10K-15K she earns, after business expenses and SE Insurance payment deductions, you may not e...
by aum
Wed Mar 14, 2018 4:08 pm
Forum: Personal Investments
Topic: Backdoor Roth conversion waiting period
Replies: 3
Views: 955

Re: Backdoor Roth conversion waiting period

I did mine next day after funding IRA and never had issues. Last time it was in 2016.
by aum
Wed Mar 07, 2018 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Help with MAGI calculation for Obamacare Subsidy
Replies: 9
Views: 1204

Re: Help with MAGI calculation for Obamacare Subsidy

Thanks Epsilon. I and my wife both will be qualified for the partial IRA deduction based on the link you provided which will be around 10K(I'm 53). I do not think we will need to contribute to traditional IRA to reduce MAGI as current MAGI calculation comes around 109K(383%FPL) well below the thresh...
by aum
Wed Mar 07, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Help with MAGI calculation for Obamacare Subsidy
Replies: 9
Views: 1204

Re: Help with MAGI calculation for Obamacare Subsidy

I also thought about IRA deduction but then the confusion about MAGI calculation came from following: https://ttlc.intuit.com/questions/3777636-how-do-i-calculate-modified-adjusted-gross-income MAGI stands for Modified Adjusted Gross Income. Adjusted Gross Income (AGI) is defined as gross income min...
by aum
Wed Mar 07, 2018 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Help with MAGI calculation for Obamacare Subsidy
Replies: 9
Views: 1204

Re: Help with MAGI calculation for Obamacare Subsidy

Thanks HueyLD. I feel much better now. This is the first time I am on Obamacare and wanted a second opinion. About the insurance for first five months --- I was not an employee. It was given to me as a separation package from Megacorp for six months starting 12/1/2016. $548 was my portion of premium...
by aum
Mon Mar 05, 2018 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Help with MAGI calculation for Obamacare Subsidy
Replies: 9
Views: 1204

Re: Help with MAGI calculation for Obamacare Subsidy

Thanks Flobes for info. I got on Obamacare starting June 1 last year. My premium was $1493 and I had received $612 per month as premium credit. So my portion of premium was $881 x 7 = 6167 Dental Insurance $235 x 7 = 1645 Employee Subsidized Ins $548 x 5 = 2740 ==================================== T...
by aum
Mon Mar 05, 2018 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Help with MAGI calculation for Obamacare Subsidy
Replies: 9
Views: 1204

Help with MAGI calculation for Obamacare Subsidy

MFJ Family of 5 - 3 Kids(21 and in College, 13, 13) 1040 Line 8b Tax Exempt Interest $7277 1040 Line 22 Total Income $121,328 Dependent DD's W2 Income $291.20 Deducations as follow: 1040 Line 25 HSA Deduction $6750 1040 Line 27 Deductible part of Self Employment Tax $742 1040 Line 29 Self Employed H...
by aum
Tue Feb 27, 2018 8:23 am
Forum: Investing - Theory, News & General
Topic: www.portfoliocharts.com ... "The Coolest Portfolio Tool on the Web"?
Replies: 256
Views: 59284

Re: www.portfoliocharts.com ... "The Coolest Portfolio Tool on the Web"?

My favorite place and have been using a lot! Thanks tyler for sharing with us!
by aum
Mon Feb 26, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Training courses and Lifetime Learning Credit for 2017 Taxes
Replies: 4
Views: 379

Re: Training courses and Lifetime Learning Credit for 2017 Taxes

Even though I asked for details I only got an email stating that they do not provide 1098-T. I assume they are not an eligible institution.
by aum
Sun Feb 25, 2018 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Training courses and Lifetime Learning Credit for 2017 Taxes
Replies: 4
Views: 379

Training courses and Lifetime Learning Credit for 2017 Taxes

I have taken several courses from Certstaff training center last year and paid a total of $2500. Can I claim them as LLC? I have all the receipts and certifications. I spoke with my accountant and he said I need 1098-T. Called training company and I am getting bumped around and not getting anywhere ...
by aum
Thu Feb 01, 2018 8:50 pm
Forum: Personal Investments
Topic: HSA Asset Allocation Strategy and Choices
Replies: 12
Views: 2927

Re: HSA Asset Allocation Strategy and Choices

All my HSA contributions(22K) are invested into one fund - FFNOX from fidelity. I've kept it separate from my overall AA and not planning to use for anything until I enroll in medicare(12 yrs to go). I'll continue funding full family allowance as long as I can possibly until medicare.
by aum
Thu Jan 11, 2018 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Best HSA (2017)
Replies: 190
Views: 46025

Re: Best HSA (2017)

I am still waiting for Fidelity, Vanguard, and all the other discount brokerages to offer "free" HSA accounts like they do IRAs. I think it will happen soon if HSA contribution limits are increased and the eligibility qualifications for HSA accounts are lowered (both possible changes). Until then -...
by aum
Mon Oct 23, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Premium Increase Horizon BCBS HSA
Replies: 3
Views: 710

2018 Premium Increase Horizon BCBS HSA

I just got a letter from my insurance company with their intent to increase premium. It is going up from 1495 per month to 2126. My current premium is $857 after $638 subsidy. Now it’ll be $1488 after subsidy. Also coinsurance in tier 1 will increase from 10% to 30%. This almost doubles my premium a...
by aum
Fri Sep 08, 2017 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Retraining Package - $2500 Tax Filing Question
Replies: 4
Views: 645

Re: Retraining Package - $2500 Tax Filing Question

Not possible. Its a BIG megacorp who made rules for everyone so wont budge.
by aum
Fri Sep 08, 2017 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Retraining Package - $2500 Tax Filing Question
Replies: 4
Views: 645

Re: Retraining Package - $2500 Tax Filing Question

Spoke with my accountant and he said that I will not be able to write that off as misc expense on Sch A as first two percent of agi is excluded. Which in my case would be around 2300 so not much deduction left. I think I will qualify for lifetime learning credit as my agi will be < 130K for married ...
by aum
Tue Sep 05, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Retraining Package - $2500 Tax Filing Question
Replies: 4
Views: 645

Retraining Package - $2500 Tax Filing Question

As part of my layoff package, I was offered $2500 for retraining assistance. Which meant I can take any course/s worth $2500, pay first and then submit paper work to get that amount reimbursed. My company will then pay me and issue me a 1099 for that $2500. Now questions are: 1) Do I need to report ...
by aum
Thu Aug 31, 2017 11:25 am
Forum: Personal Investments
Topic: Obamacare MAGI calculation - Foreign Tax Credit(Line 48 from 1040)
Replies: 2
Views: 446

Obamacare MAGI calculation - Foreign Tax Credit(Line 48 from 1040)

I retired last year and enrolled into ACA plan from June of this year. Since I do not have any income coming in this year, I will be converting some amount from 401K to Roth IRA and want to estimate how much to convert and stay below 400% FPL. We're family of five so magic number to stay below is 11...
by aum
Tue Jun 06, 2017 5:15 pm
Forum: Personal Investments
Topic: Financially independent and then market crashes?
Replies: 54
Views: 8730

Re: Financially independent and then market crashes?

Retired recently on 12/1/2016 at age 52. My plan was to amass enough that 3%WR would cover all my essential expenses and a mini vacation of one week anywhere in USA. And I would withdraw 1% on top of that if the year was good for travel and other stuff. Not planning to take inflation on my withdrawa...
by aum
Tue Jun 06, 2017 4:57 pm
Forum: Investing - Theory, News & General
Topic: www.portfoliocharts.com ... "The Coolest Portfolio Tool on the Web"?
Replies: 256
Views: 59284

Re: www.portfoliocharts.com ... "The Coolest Portfolio Tool on the Web"?

Thanks Tyler. I get your periodical updates in my email so checked and had a big smile. Your site is my one stop tool for all my personal investment queries and have shared with family and friends.
by aum
Fri Jun 02, 2017 9:10 pm
Forum: Personal Investments
Topic: Early Retirement Approaches (forced) - review my situation?
Replies: 42
Views: 8655

Re: Early Retirement Approaches (forced) - review my situation?

Same here...Was in IT and was fed up with BS from upper management at MegaCorp. I retired at age 52 on 12/1/2016. I had resigned but my new manager helped me get the layoff and a package. Already had three offers which I turned down. Six months medical was subsidized from MegaCorp and just switched ...
by aum
Wed May 17, 2017 5:59 pm
Forum: Investing - Theory, News & General
Topic: When 60/40 just isn't appropriate
Replies: 182
Views: 32132

Re: When 60/40 just isn't appropriate

Just retired late last year. Age 52 and AA is 60/40. Will keep 60/40 until SS at age 67 and then cut some equity. Currently on 3% WR.
by aum
Wed May 17, 2017 5:09 pm
Forum: Personal Investments
Topic: IRA to Roth IRA Conversion - your input please
Replies: 6
Views: 805

Re: IRA to Roth IRA Conversion - your input please

From pretax 401K to Roth IRA not Roth 401K. Great idea about leaving some money for nursing home hc expense in both accounts. Thanks.
by aum
Wed May 17, 2017 4:51 pm
Forum: Personal Investments
Topic: IRA to Roth IRA Conversion - your input please
Replies: 6
Views: 805

IRA to Roth IRA Conversion - your input please

I just retired late last year and I'll be converting good chunk of amount to Roth every year. Here is my situation: Me: 52 years old and have around 750K in pretax 401K DW: 46 years old and have around 170K in pretax 401K Will have 5 dependents on 1040 and planning to stay below 110K for obamacare M...
by aum
Tue May 16, 2017 5:55 pm
Forum: Investing - Theory, News & General
Topic: www.portfoliocharts.com ... "The Coolest Portfolio Tool on the Web"?
Replies: 256
Views: 59284

Re: www.portfoliocharts.com ... "The Coolest Portfolio Tool on the Web"?

Hi Tyler, Great tool. I use it a lot. I used to see Merriman Ultimate Portfolio but I do not see it anymore. Any reason why it was removed? My portfolio resembles Marriman's so it was easy for me to get all the data needed with one click rather than doing a customized chart. Thanks for sharing this ...
by aum
Sat May 13, 2017 11:29 am
Forum: Personal Investments
Topic: Help me quantify exactly how expensive AXA is.
Replies: 9
Views: 5171

Re: Help me quantify exactly how expensive AXA is.

My wife had her 403 money in AXA. They were ripping us off. We rolled over her annuity to Fidelity IRA and they had imposed 5% penalty. Just like OP, I never got any clear answer on expenses.
by aum
Sat May 13, 2017 10:36 am
Forum: Investing - Theory, News & General
Topic: Confirm Withdrawl Strategy
Replies: 17
Views: 2223

Re: Confirm Withdrawl Strategy

If you converted too much to Roth IRA, you can re-characterize all or partial conversion back to traditional IRA. I'm planning to do that to make sure I fall below 400% FPL for obamacare MAGI to receive subsidy. http://fairmark.com/retirement/roth-accounts/recharacterizations/extended-deadline-for-r...
by aum
Fri Aug 12, 2016 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Earned Income and Roth IRA Contribution
Replies: 2
Views: 432

Re: Earned Income and Roth IRA Contribution

Thanks CppCoder. That clears my doubt. So key here is for to have at least 12K earned to take full advantage of Roth IRA. I'll also be converting from IRA-->Roth IRA which has not dependency on yearly contribution.
by aum
Fri Aug 12, 2016 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Earned Income and Roth IRA Contribution
Replies: 2
Views: 432

Earned Income and Roth IRA Contribution

I know that you can not contribute more than your earned income in Roth IRA. But what happens for following situation: - Marrried, DH-53 DW-47 - DW's earned Income: About 6000/year - DH's earned Income: 0 (Retired) I think DW will be able to contribute full 5500 in her Roth IRA. But what about DH? -...
by aum
Tue Nov 17, 2015 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Wife Consulting on 1099 - Can she pay my daughter on 1099 also?
Replies: 5
Views: 1338

Re: Wife Consulting on 1099 - Can she pay my daughter on 1099 also?

Thanks for the replies. I live in NJ. For a mere 1.8K/yr, I do not want to go through a hassel of buyinh worker's comp. My daughter filed her own tax returns last year and she'll do the same this year. Last year my wife did not have consulting business going but my daugthter had earned about 4K from...
by aum
Mon Nov 16, 2015 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Wife Consulting on 1099 - Can she pay my daughter on 1099 also?
Replies: 5
Views: 1338

Wife Consulting on 1099 - Can she pay my daughter on 1099 also?

My wife is a Speech Pathologist and started consulting this year. She'll earn about 25K of income paid to her by consulting company on 1099 this year. My daughter is in 2nd year of college and has been helping my wife with billing and scheduling patients. We've been paying her $150/month in cash for...
by aum
Thu Apr 02, 2015 2:04 pm
Forum: Personal Investments
Topic: Asset Allocation for 5-10 year Goal
Replies: 6
Views: 1128

Re: Asset Allocation for 5-10 year Goal

I saved 20% downpayment(60K) + 1 year expenses(50K just incase if I lost my job right after buying a home) in cash.…mostly CDs and then bought a house in 1997. It has worked out well for me.
by aum
Sat May 03, 2014 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 338
Views: 52178

Re: Did you tell anyone you paid off your mortgage?

Thanks to good old days of Y2K era, we paid off our mortgage in just three years at young age of 33. We did not tell anyone for ten years even when they asked because we wanted to avoid unnecessary discussion and "Oh you're so lucky" remarks. Now a days at age 50, if they ask we tell them the truth ...
by aum
Tue Feb 25, 2014 4:21 pm
Forum: Personal Investments
Topic: 529 Plan Question
Replies: 14
Views: 1743

Re: 529 Plan Question

I used to be with Kansas but transferred to NY for the low fee management with Vanguard.