Search found 471 matches

by gclancer
Sat May 26, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: work one more year or attend law school
Replies: 67
Views: 5030

Re: work one more year or attend law school

Big Dog wrote:
Fri May 25, 2018 9:26 pm
fwiw: if you have the numbers for a T5 law school, you have the numbers to attend a lower-ranked T14 for a LOT less. The ROI on that is much, much better.
+1
by gclancer
Sun May 13, 2018 9:02 pm
Forum: Investing - Help with Personal Investments
Topic: Is Whole Life Insurance Worth It?
Replies: 54
Views: 4150

Re: Is Whole Life Insurance Worth It?

mortfree wrote:
Sat May 12, 2018 3:24 pm
Term life. Skip whole life.

Insurance is not an investment.

I pay $240 per year for 250k term (20-year policy)
Same age as OP. I pay $405 per year for a million dollar 20 year level premium term life policy. Was once quoted $11,000 annual premium for a million dollar whole policy. Pass.
by gclancer
Sun May 13, 2018 8:56 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Investment Options
Replies: 6
Views: 542

Re: 401K Investment Options

Do you have outside investments? At least while the 401(k) balance represents a smaller percentage of your overall portfolio I would personally go 100% BSPIX and call it a day.
by gclancer
Sun May 06, 2018 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: 529 vs Roth IRA
Replies: 7
Views: 548

Re: 529 vs Roth IRA

You can always take contributions to a Roth IRA out (but not investment gains) tax and penalty free so it is a more flexible investment vehicle than a 529 (that is, you can withdrawal from a Roth or a 529 to pay for college). For that reason (absent exception circumstances) you should contribute $5,...
by gclancer
Sun May 06, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Kay Bailey Hutchison Spousal IRA - more than $5500/year?
Replies: 8
Views: 1606

Re: Kay Bailey Hutchison Spousal IRA - more than $5500/year?

Are either of you covered by a retirement plan at work such as a 401(k)?
by gclancer
Thu May 03, 2018 8:30 pm
Forum: Investing - Help with Personal Investments
Topic: Medically Retired at Age 30 [Saving for Retirement - 100% Disabled Vet]
Replies: 20
Views: 3391

Re: Medically Retired at Age 30 [Saving for Retirement - 100% Disabled Vet]

It sounds like you may be eligible for Combat Related Special Compensation in addition to your VA benefit. CRSC is tax free as well. In order to receive CRSC you have to actually apply for it. More information can be found here: https://www.hrc.army.mil/TAGD/CRSC .
by gclancer
Sat Apr 28, 2018 5:04 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k vs. SEP-IRA
Replies: 7
Views: 496

Re: Solo 401k vs. SEP-IRA

PFInterest wrote:
Sat Apr 28, 2018 4:52 pm
Solo 401k. Otherwise no backdoor rIRA.
+1 Solo 401(k) is a no-brainer for you. Check that off the list and on to the next.
by gclancer
Fri Apr 20, 2018 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Got hit with a $2800 Medical bill. Can I negotiate?
Replies: 187
Views: 10493

Re: Got hit with a $2800 Medical bill. Can I negotiate?

Prompt pay discount = 25-30% off. Pay with a 2% cash back credit card to save a bit more. Any time I have a medical bill in excess of $250 or so I get the prompt pay discount. Under $250 I don’t bother in part because I assume they wouldn’t believe I couldn’t afford it but admittedly I haven’t tried.
by gclancer
Fri Apr 06, 2018 1:22 pm
Forum: Investing - Theory, News & General
Topic: What is Megacorp?
Replies: 62
Views: 4787

Re: What is Megacorp?

Jack FFR1846 wrote:
Fri Apr 06, 2018 1:09 pm
Think of Inatrode from Office space.
This is literally what I think of when a poster says they work at Megacorp. My minds eye pictures them in a cubical with three different bosses watching over them.
by gclancer
Fri Apr 06, 2018 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio review - where to put my next dollar of savings?
Replies: 15
Views: 1644

Re: portfolio review - where to put my next dollar of savings?

I will open 2 Traditional IRAs at Ally Bank and contribute $5500 to each before the April 17th deadline for 2017. His Roth 401k (inside retirement plan): $11,180 Her Roth IRA: $5,500 Does that sound right? No. First I would do Roth IRAs for 2017 for you and your spouse instead of Traditional. Espec...
by gclancer
Thu Apr 05, 2018 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio review - where to put my next dollar of savings?
Replies: 15
Views: 1644

Re: portfolio review - where to put my next dollar of savings?

Since you’re in the 15% tax bracket you’re eligible to contribute to a Roth. I would move $11k from your Ally Savings into a Roth IRAs for you and your spouse for 2017 (open a Roth at Ally if you want - it can remain part of your emergency fund since you can withdraw contributions tax and penalty fr...
by gclancer
Sat Mar 31, 2018 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Loan vs. Current Credit Card vs. New Credit Card
Replies: 9
Views: 747

Re: Personal Loan vs. Current Credit Card vs. New Credit Card

Discover it... First year promo... 0apr for atleast a year... 2% cash back on everything for the first year 10% cash back on quarterly spending categories for the first year Note that the card is actually 1%cb on everything and 5% on rotating quarterly categories... But the promo is they match all ...
by gclancer
Tue Mar 06, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Distribution Question
Replies: 6
Views: 746

Re: HSA Distribution Question

Also, how is it even possible to "keep records sufficient to show that the qualified medical expenses hadn’t been previously paid or reimbursed from another source."? In practice, the IRS auditor will look at your HSA statements for the withdrawal amounts and match them with the EOBs you provide fr...
by gclancer
Tue Mar 06, 2018 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: Help with HSA Investments
Replies: 6
Views: 605

Re: Help with HSA Investments

Sure, it would be nice if the Vanguard funds were still commission free, but SPTM has tracked VTI very closely if you compare the funds at Morningstar, and will likely do the job of giving you the performance of the US stock market. Having to buy SPTM instead of VTI are the types of things I’m pron...
by gclancer
Mon Mar 05, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: $500 gift card, what to do?
Replies: 42
Views: 3335

Re: $500 gift card, what to do?

I've taken gift cars in the form of a Visa or Mastercard and simply applied the full balance to my electric bill. Gill This is the correct answer. Even if your bill is only $200 just pay $500 and wipe the card out so you don’t have to think about it anymore. Then enjoy not getting an electric bill ...
by gclancer
Thu Mar 01, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Big umbrella increase: anyone else's risen dramatically?
Replies: 26
Views: 2674

Re: Big umbrella increase: anyone else's risen dramatically?

Perhaps your insurer is price optimizing your annual premium, it may pay to shop your policies around. https://www.npr.org/2015/05/08/40359823 ... n-cost-you
by gclancer
Thu Mar 01, 2018 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Total International (VXUS) is an inferior choice?
Replies: 10
Views: 2772

Re: Vanguard Total International (VXUS) is an inferior choice?

Your points are all accurate. The argument in favor of VXUS is that it automatically rebalances. VT does as well but you may desire a greater domestic allocation than VT has in which case you’re back to two funds anyway (plus VTI/VXUS has a lower blended expense ratio compared to VT). One important ...
by gclancer
Sun Feb 25, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Citi DoubleCash vs. Paypal (Synchrony)
Replies: 28
Views: 4604

Re: Citi DoubleCash vs. Paypal (Synchrony)

Thanks for the feedback. I think I'm gonna go with the DoubleCash card. My own experiences with PayPal have been less than stellar and I think the extra perks from Citi provide the extra value needed to make it a fairly convincing winner. If you’re just going to have one card I would do Citi Double...
by gclancer
Wed Feb 21, 2018 9:23 pm
Forum: Investing - Help with Personal Investments
Topic: Employee Stock Purchase Plan - is this even valuable/worth it?
Replies: 34
Views: 2590

Re: Employee Stock Purchase Plan - is this even valuable/worth it?

For 5% I would not touch it..... Too much risk of loss for a small discount. I have used ESPP heavily in the past... but at a FAR greater discount with a trailing price. As long as OP remembers to sell ASAP there is essentially no risk of loss (yes the stock could open the next day >5% down from th...
by gclancer
Wed Feb 21, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy
Replies: 6
Views: 728

Re: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy

might as well only use her tIRA, not mine, particularly since mine will have been converted to Roth by mid-2018. I think my 401k would take an incoming rollover, but I want to avoid that if I can because of the lack of flexibility and that 0.15% fee. Does it perhaps makes sense to prioritize conver...
by gclancer
Wed Feb 21, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy
Replies: 6
Views: 728

Re: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy

(so that I at least can do a backdoor Roth if needed) Are you expecting a spike in income? Backdoor Roths don’t become a consideration until your AGI exceeds roughly $189k because you can still make a direct Roth contribution up until that point. So you can continue to use your 401(k) to both stay ...
by gclancer
Wed Feb 21, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy
Replies: 6
Views: 728

Re: Evaluate my first Roth conversion / 22% tax bracket avoidance strategy

I like the plan and it’s well thought out. Regarding step 7, both of you will be able to contribute to a Traditional IRA to zero in on the $101,400 AGI you’re looking for (Traditional IRA deductibility phases out between $101k and $121k Modified AGI which doesn’t account for Traditonal IRA contribut...
by gclancer
Sat Feb 17, 2018 8:13 pm
Forum: Investing - Theory, News & General
Topic: Target Retirement Fund Question
Replies: 20
Views: 1683

Re: Target Retirement Fund Question

Research Vanguard’s structure. The short answer to your question is that they’re the most likely to remain unchanged of any entity currently offering target date retirement funds.
by gclancer
Sat Feb 17, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: When do IRA's stop making sense?
Replies: 37
Views: 2957

Re: When do IRA's stop making sense?

My 401k does NOT allow me to rollover any IRA's into the plan The first thing I would do I make a business case to HR that they should accept incoming rollovers. The case would be that more assets under management generally equals lower prorata fees for everyone so they should be encouraging employ...
by gclancer
Wed Feb 07, 2018 9:16 pm
Forum: Investing - Help with Personal Investments
Topic: Selling a mutual fund to buy an ETF
Replies: 6
Views: 571

Re: Selling a mutual fund to buy an ETF

TropikThunder wrote:
Wed Feb 07, 2018 9:12 pm
A lot of "ifs", I know. :P But if so, that would accomplish what OP wants without ever being out of the market.
+1 that is a lot of ifs but I was going to point the same thing out to OP.
by gclancer
Mon Feb 05, 2018 6:01 am
Forum: Personal Finance (Not Investing)
Topic: Legitimate ways to reduce SE tax to 0?
Replies: 10
Views: 1209

Re: Legitimate ways to reduce SE tax to 0?

Going back to the SE tax which you are trying to avoid since it is 15.3% ($3,672 on joint $24,000 of AGI) +1 to Celia’s entire post - great info in there OP. I’ll focus on the quote above. There is no way to avoid SE tax all together (except not making any money - if you contribute to retirement ac...
by gclancer
Wed Jan 31, 2018 6:15 pm
Forum: Investing - Help with Personal Investments
Topic: Why do many bogleheads feel they can time the housing market but can't time the stock market?
Replies: 63
Views: 5132

Re: Why do many bogleheads feel they can time the housing market but can't time the stock market?

Would be helpful if you linked to some of the threads where timing the housing market is discussed.
by gclancer
Mon Jan 29, 2018 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: IRA type
Replies: 4
Views: 357

Re: IRA type

You don’t provide many details, but unless she has big tax deferred savings that you haven’t mentioned Traditional IRA is almost certainly the way to go. Is she going to retire at 70 with social security as her only income?
by gclancer
Mon Jan 29, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: SEP Rollover Questions
Replies: 16
Views: 768

Re: SEP Rollover Questions

Traditional IRA is probably easier. The only reason to roll the Traditional/SEP IRA into the 401(k) would be if you wanted to do a Backdoor Roth contribution for your wife in the future (it sounds like your income is “lower” since your wife was able to contribute to a Traditional IRA even though sh...
by gclancer
Sat Jan 06, 2018 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Contribute to 401k or pay off fixed 20yr 7.625% HELOC?
Replies: 21
Views: 1336

Re: Contribute to 401k or pay off 7.625% HELOC?

Traditional IRA: 500k Old firm 401k: 50k Current firm 401k: 50k Use emergency fund to pay off HELOC. Does your current 401(k) have good investment options and low expenses? If so, consider rolling your Traditional IRA (and Old firm 401(k) for simplicity even though that’s not actually a necessary s...
by gclancer
Thu Jan 04, 2018 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab New York Municipal Money Market - Paying >5%?
Replies: 3
Views: 820

Re: Schwab New York Municipal Money Market - Paying >5%?

You’re looking at distribution yield. Take a look at the SEC yield which is a more accurate reflection of the fund’s actual yield.
by gclancer
Thu Jan 04, 2018 9:47 pm
Forum: Investing - Help with Personal Investments
Topic: Why do money market and bond funds make up 1% of my 401K, which includes only equities?
Replies: 7
Views: 628

Re: Why do money market and bond funds make up 1% of my 401K, which includes only equities?

That and they typically keep a bit of cash for redemptions when the outflow of cash to investors selling the fund during the day exceeds the inflow of cash from new investors purchasing the fund.
by gclancer
Thu Jan 04, 2018 9:18 pm
Forum: Investing - Theory, News & General
Topic: Conceptually: *Why* does the Yield Curve invert?
Replies: 29
Views: 3189

Re: Conceptually: *Why* does the Yield Curve invert?

whodidntante wrote:
Thu Jan 04, 2018 8:36 pm
They use colorful graphics and talk loudly, and I don't see that kind of quality here, so they must be right.
+1
by gclancer
Mon Jan 01, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage?
Replies: 12
Views: 1371

Re: Pay off mortgage?

You'll pay $4,500 in tax to get it done assuming a LTCG of 30k. You could instead direct new cash flow to pay it off and then you won't pay that tax. I don't like paying tax. +1 - don’t pay tax to pay it off. If you can generate tax free cash from your taxable investments/new earnings while maintai...
by gclancer
Thu Dec 28, 2017 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: Roth 401(k) a better option with new tax law?
Replies: 17
Views: 2090

Re: Roth 401(k) a better option with new tax law?

Gclancer- My state tax rate is 3.07 and I don't see myself retiring to a different state. So your marginal tax rate will be 15% next year which for someone making $100,000 per year now is probably as low as it will ever be (even if your tax rate doesn’t end up being higher, the math between a Roth ...
by gclancer
Thu Dec 28, 2017 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Roth 401(k) a better option with new tax law?
Replies: 17
Views: 2090

Re: Roth 401(k) a better option with new tax law?

What’s your state tax rate? Any chance you’ll retire to a income tax free state like Florida? I would personally lean towards Roth while you’re in the 12% bracket because I agree with you that your tax rate in retirement isn’t likely to be much lower. Regarding the impact of Roth 401(k) on order of ...
by gclancer
Wed Dec 27, 2017 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Moonlighting Income - Convert from Sole Prop. to S-Corp or LLC for 2018?
Replies: 6
Views: 564

Re: Moonlighting Income - Convert from Sole Prop. to S-Corp or LLC for 2018?

I'd assume that I'd be in the 24% fed tax rate for 2018. Why wouldn't I want my moonlighting income to fall within a 21% corporate rate for 2018? Research the 20% deduction available to pass-thoughs. Once you take that into consideration the income you earn from moon lighting should come in at unde...
by gclancer
Mon Dec 25, 2017 6:44 pm
Forum: Investing - Theory, News & General
Topic: Bankers selling high end collectibles
Replies: 20
Views: 2385

Re: Bankers selling high end collectibles

Because they need the money by a certain date?
by gclancer
Mon Dec 11, 2017 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Year end review with less nerdy spouse
Replies: 72
Views: 8777

Re: Year end review with less nerdy spouse

I try but don’t seem to gain much traction. I think a PowerPoint presentation might do the trick! Thanks for the suggestion.
by gclancer
Thu Dec 07, 2017 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking term life insurance recommendation
Replies: 16
Views: 1676

Re: Seeking term life insurance recommendation

You didn’t ask, but you can compare price quotes/find policies to research further here: https://www.term4sale.com The cheapest/best policy for me was actually through Costco (Protective Life) but I only needed a 20 year term (they only offer 10 and 20 year policies - but you could ladder them as s...
by gclancer
Tue Dec 05, 2017 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: How is Home Equity Line of Credit Payoff Number Calculated?
Replies: 4
Views: 390

Re: How is Home Equity Line of Credit Payoff Number Calculated?

I’ve always paid lenders the payoff amount they are asking for and they’ve always refunded the over payment to me after everything settled.
by gclancer
Tue Dec 05, 2017 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking term life insurance recommendation
Replies: 16
Views: 1676

Re: Seeking term life insurance recommendation

You didn’t ask, but you can compare price quotes/find policies to research further here: https://www.term4sale.com The cheapest/best policy for me was actually through Costco (Protective Life) but I only needed a 20 year term (they only offer 10 and 20 year policies - but you could ladder them as su...
by gclancer
Sat Nov 25, 2017 8:10 am
Forum: Personal Consumer Issues
Topic: Etiquette question: Paying for meals out & out of town guests
Replies: 79
Views: 6548

Re: Etiquette question: Paying for meals out & out of town guests

Assuming you’re accurately recalling what transpired, the out of town guests should have absolutely paid, no further conversation needed. When this sort of thing happens to me I’ll tell third-party friends/family later and they’ll inevitably act like I’m crazy for thinking the out of town guests sho...
by gclancer
Fri Nov 24, 2017 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Too much house, right?
Replies: 88
Views: 9126

Re: Too much house, right?

If you are going to have a house built you might consider using geothermal energy, solar energy, and passive heating type design, so that at least your utility bills can be very low, to offset the mortgage payment. +1 - obviously this all adds to the cost but you should probably consider finishing ...
by gclancer
Wed Nov 22, 2017 11:35 am
Forum: Investing - Help with Personal Investments
Topic: Concerned parent :(
Replies: 56
Views: 8013

Re: Concerned parent :(

I see this a lot with people saying what they are going to college to study. A very successful person I met told me about his college decision and the conversation he had with his father. His father asked him "Is it a hobby or a profession"? He asked him "whats the difference". His father said "You...
by gclancer
Tue Nov 21, 2017 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: 501(c)(3) Public-Charity or a Private Foundation?
Replies: 32
Views: 1713

Re: 501(c)(3) Public-Charity or a Private Foundation?

I would meet with a CPA or an attorney regarding your plans (at the outset I would probably start with a CPA specializing in nonprofits myself). You'll run in to funding issues if you try to establish a Public-Charity and fund it with your DAF (see here: http://grantspace.org/tools/knowledge-base/No...
by gclancer
Tue Nov 21, 2017 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: 0% APR for 15month for Balance transfer
Replies: 3
Views: 444

Re: 0% APR for 15month for Balance transfer

Chase Slate, Barclaycard Ring and BankAmericard all offer 15 months 0% APR with no balance transfer fee, so if you're going to apply for a credit card for the purpose of transferring a balance I would go with one of those.
by gclancer
Sat Nov 18, 2017 10:55 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - should we do it?
Replies: 9
Views: 1144

Re: Backdoor Roth - should we do it?

People do appear to get around this by putting all the non-deductible money into a separate account, but I wouldn't trust that method to always work in the future. Safest thing is to move all your tIRA money to a 401k first. JW +1 - for someone with enough financial savvy to be on the Bogleheads fo...
by gclancer
Sun Nov 12, 2017 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: $30K loan for 12 months
Replies: 24
Views: 2127

Re: $30K loan for 12 months

The credit card idea is a good one assuming you can get a sufficient credit line, which you won’t (not on the cards offering 0% for a long period of time). To get a sufficient credit line, you’ll need to pick an issuer where you already have credit card(s), apply for a 0% card, transfer the majority...