Search found 899 matches
- Sat Mar 16, 2024 3:30 am
- Forum: Personal Consumer Issues
- Topic: Buying an Expensive Car
- Replies: 79
- Views: 6192
Re: Buying an Expensive Car
Have you factored in repair costs? Considered extended warranty if buying outright? As an alternative, I’d strongly consider a lease in your situation.
- Sun Mar 10, 2024 5:25 am
- Forum: Personal Consumer Issues
- Topic: Is Calif Really That Expensive - Or Am I Missing Something?
- Replies: 133
- Views: 15477
Re: Is Calif Really That Expensive - Or Am I Missing Something?
I moved to California after living in Utah and Arizona my entire life. In my unique circumstances, this is actually an affordable place to live. I live about a 2 minute walk to the beach, and the entire town is walkable and has bike infrastructure. That means I don’t need a car. The lack of a car payment, insurance, gas, and registration means I save thousands per year. Since I am near the beach, the climate stays 45-75 degrees all year round. So I don’t need a heater or air conditioning, which in turn results in extremely small utility expenses. Living in Arizona, my utility bill would easily be over $300/month for electricity alone in the summer months. My town has public WiFi, so I technically don’t need to buy my own internet access if...
- Sat Feb 10, 2024 9:25 am
- Forum: Personal Investments
- Topic: Overcontribution to retirement accounts over the past three years
- Replies: 12
- Views: 1639
Re: Overcontribution to retirement accounts over the past three years
https://thefinancebuff.com/401a-plan-co ... limit.html
Figured OP could use a reference to back up some of the statements being made in this thread. Please note that contribution amounts are for 2019 levels, but the fundamental principles continue to apply.
Figured OP could use a reference to back up some of the statements being made in this thread. Please note that contribution amounts are for 2019 levels, but the fundamental principles continue to apply.
- Sat Feb 10, 2024 4:16 am
- Forum: Personal Investments
- Topic: Overcontribution to retirement accounts over the past three years
- Replies: 12
- Views: 1639
Re: Overcontribution to retirement accounts over the past three years
Agree with lakpr. Seems very odd that over contributions wouldn’t have been caught by your employer over multiple years. It is much more likely that what you’re doing is permitted. Rather than naming them plan A, B, and C, please provide the plan types. Agree with lakpr that the plans are likely 401a, 403b, and 457b.
- Sun Jan 14, 2024 4:18 pm
- Forum: Personal Finance (Not Investing)
- Topic: Potentially selling a great house
- Replies: 101
- Views: 11712
Re: Potentially selling a great house
Old lady here. My husband and I had much much less money than you have, and at one point almost moved for a better school district, etc. We would’ve had to take money out of a 401(k), which would’ve been a really bad move. We ultimately stayed where we are and the kids turned out perfectly fine. As others mentioned above, get the kids involved in different sports or dance lessons or whatever. However don’t over schedule because it just adds to the stress. Now we are still in our small house, never felt the need to downsize like some of my friends are dealing with. It sounds like you’re in a good situation already! One last thing, this time goes by so fast. We make decisions that will affect our financial situation for years and years to co...
- Sun Jan 14, 2024 4:41 am
- Forum: Personal Investments
- Topic: Should I still use Mega-Backdoor Roth if there is a "holding period"?
- Replies: 6
- Views: 764
Re: Should I still use Mega-Backdoor Roth if there is a "holding period"?
[quote=sailaway post_id=7651963 time=<a href="tel:1705223230">1705223230</a> user_id=120975] How does the matching program work? Would you lose match by front loading? The match has a true-up; the true-up doesn't hit the account until the following year, though. Which means even more time until that money can be converted. So, I think what makes the most sense is to put the minimum amount in each pay period to get the match, but front-load as much as I can to hit the limit for traditional contributions early in the year. That way, I can bias the after-tax contributions closer to the end of the year, to minimize the amount of pre-conversion growth. Hopefully I'm thinking about this correctly. [/quote] Yep. This is the way to go. A...
- Wed Dec 20, 2023 5:30 pm
- Forum: Personal Investments
- Topic: Mutual Fund day of purchase value?
- Replies: 12
- Views: 950
Re: Mutual Fund day of purchase value?
Today was a very pedestrian day. Very common. Look at it this way… at least you didn’t buy on the Friday before Black Monday.
- Sat Dec 02, 2023 5:53 am
- Forum: Personal Finance (Not Investing)
- Topic: Should I dismiss the idea of buying a house?
- Replies: 15
- Views: 2062
Re: Should I dismiss the idea of buying a house?
Agreed.Sandtrap wrote: ↑Sat Dec 02, 2023 5:32 am+1lthenderson wrote: ↑Sat Dec 02, 2023 4:42 amJust these two statements lands me under the "not at this time" column.BogleMelon wrote: ↑Sat Dec 02, 2023 12:16 am I am the sole breadwinner,
- I don't feel very secure with my current employer. I am actively looking for another job. Renting means more flexibility to relocate if needed.
to op:
1 Not a good time..by the numbers.
2 Your instincts are "warning you".
j
Insecure job for sole breadwinner with low level of backup funds in case of job loss = keep renting.
- Tue Nov 28, 2023 5:52 pm
- Forum: Investing - Theory, News & General
- Topic: Charlie Munger dies at 99
- Replies: 63
- Views: 13240
Re: Charlie Munger dies at 99
Of course, passing is a part of life. Nevertheless sad to see him go. Incredible mind.
- Sat Aug 12, 2023 6:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would you buy a house in our situation?
- Replies: 34
- Views: 4986
Re: Would you buy a house in our situation?
My thoughts exactly when reading the OP’s post.Hacksawdave wrote: ↑Sat Aug 12, 2023 5:07 pm Okay, I’ll turn back the clock and put myself in your situation.
When you state SO, am I to assume that means you two are not married? I had two very long-term relationships that ended with thankfully no shared real estate involved.
I would also assume that both of you are somehow in the same line of work and are close in compensation? If no to the two questions, I would definitely not do it.
From a financial perspective alone, I’d also hesitate to pay twice the rental cost in mortgage payments (assuming similar house).
- Sat Aug 12, 2023 6:21 pm
- Forum: Personal Consumer Issues
- Topic: Shoe quality?
- Replies: 55
- Views: 5199
Re: Shoe quality?
For hiking books my family has been consistently happy with the quality of Merrells over time.
- Thu Aug 10, 2023 10:21 am
- Forum: Personal Finance (Not Investing)
- Topic: Advice on balancing savings and where you live
- Replies: 7
- Views: 987
Re: Advice on balancing savings and where you live
With all your savings (Mega backdoor Roth, backdoor Roth, HSA, plus $120k after tax), there would have to be a very compelling reason, financial or otherwise, for me to move away. Money is nice, but it isn’t everything. From your description, it really sounds like the move would be financially driven. I’d consider the move if there were other compelling factors, as the extra money would be nice, but it honestly sounds like a drop in lifestyle and professional contacts for the move. And relative to what you’re already saving, an additional $60k/yr savings is good, but not incredible. To me that would be a “no,” but we are all different.
- Mon Aug 07, 2023 10:42 am
- Forum: Personal Consumer Issues
- Topic: Help - Locked Out of Gmail Account
- Replies: 54
- Views: 7031
Re: Help - Locked Out of Gmail Account
Could someone have hacked in and locked you out? I’d be concerned about waiting if this were a possibility.
Have you tried the methods listed here?
https://support.google.com/mail/trouble ... ts=2402623
Have you tried the methods listed here?
https://support.google.com/mail/trouble ... ts=2402623
- Sat Aug 05, 2023 1:01 pm
- Forum: Personal Investments
- Topic: If you had 9 million dollars and were 65…..
- Replies: 140
- Views: 19618
Re: If you had 9 million dollars and were 65…..
What are annual expenses for this scenario? Are there any plans for leaving an inheritance?
- Sat Aug 05, 2023 12:43 pm
- Forum: Personal Finance (Not Investing)
- Topic: When to slow down? What is enough?
- Replies: 86
- Views: 11487
Re: When to slow down? What is enough?
I have a scenario that I’ve been kicking around my head for a few weeks now and I wanted to get some ideas on how I should approach the question. I’ll give some numbers that are very rough estimates, but the purpose is more about how to start thinking about it. Basically, I want to slow down my work. Here’s the scenario: I am 41 years old, married with 2 kids (neither are in kindergarten yet). My wife is a teacher and makes about 80k per year. My income is about 600k per year (I’ve been making about 400k for the past 6 years). Between my wife and I, we have anywhere from $1.0-1.3 million in various accounts depending on when you look. Our only debt is our primary residence mortgage at 2.25% with approximately 450k remaining in a HCOL area....
- Fri Aug 04, 2023 10:30 am
- Forum: Personal Finance (Not Investing)
- Topic: Transitioning jobs; very tight financial spot
- Replies: 23
- Views: 3094
Re: Transitioning jobs; very tight financial spot
I’m in a very tight spot financially between now and November. I’m transitioning between a very low-paying job (<$100K) to a very high-paying job (>$500K) as a physician. There will be a 6-week gap around October during which I will be between the jobs and without income. Expenses (Aug-Nov) $45,000 consumer debt (20%+ interest) $35,000 Malpractice insurance (lump sum payment) $13,000 Housing $6,500 Parental support $8,700 Student loans (roughly 4% interest rate) Income (Aug-Nov) $18000 from current work $25,000 sign-on bonus $10,000 relocation reimbursement Plan Place student loans in forbearance for 3 months (resume and repay once new job starts) Take out short-term 401K loan of $38,000 (plan to repay in less than 1 year) Do locums work d...
- Tue Aug 01, 2023 8:36 am
- Forum: Personal Investments
- Topic: Talk Me Out Of (Or Into) Selling Off My Bonds And Moving To Equities
- Replies: 88
- Views: 6028
Re: Talk Me Out Of (Or Into) Selling Off My Bonds And Moving To Equities
Curious to know if you’ve constructed an investing policy statement. The reason I ask is because in mine I have baked in rules on when to change my asset allocation (age based rules in my case). Your question focuses on what to do “right now” with your five percent bond allocation, but I think more important would be to construct a plan for the future. When I read through your post, I think “sure that’s fine, FIREguy88 is trying to figure it out for now, but wouldn’t a comprehensive plan be better?” Specifically you’ve got over $5MM and are adding a couple hundred thousand per year with a planned ~30 years to go until retirement. That sounds like you’ll build an even more sizable nest egg by retirement. How do you want your nest egg composi...
- Sun Jul 30, 2023 7:30 am
- Forum: Personal Finance (Not Investing)
- Topic: Pension, final salary, and reducing hours before ramping back up at end of career
- Replies: 15
- Views: 2294
Re: Pension, final salary, and reducing hours before ramping back up at end of career
That would have been my primary concern with the scenario you outlined. If it’s really not a problem, seems quite reasonable.
Have you checked with coworkers or supervisors to see if others have successfully done this?
- Thu Jul 27, 2023 8:22 am
- Forum: Personal Investments
- Topic: This may seem dumb, but… [100% CDs & MM accounts]
- Replies: 93
- Views: 12703
Re: This may seem dumb, but… [100% CDs & MM accounts]
We are both in our mid 60s Wife retired and taking SS and a state tax free pension, totals about 65k a yr I’m still working , earn about 120k No debt … everything paid off Her 401 is in a vanguard mutual and mine in a trowe price mutual About 360 k ea The rest is laddered CDs at aprox 5 percent Total 2.2 million ,,401s , CDs and MM accounts I’m thinking of putting both 401s into CDs within the fund We both have enough to live off, no kids , no debt So at this point I’m liking low risk If the market takes a dump I don’t want to get caught I’m not a risk taker Can you see anything positive in my thinking [Topic title clarified by moderator ClaycordJCA] Sounds like you have a lot of assets. Assuming your expense budget isn’t huge, a low risk ...
- Thu Jul 27, 2023 8:16 am
- Forum: Personal Investments
- Topic: This may seem dumb, but… [100% CDs & MM accounts]
- Replies: 93
- Views: 12703
Re: This may seem dumb, but… [100% CDs & MM accounts]
I don't think volatility (shorter-term fluctuations in the total stock market) is risk. Risk to me is not meeting your spending obligations and desire. If all CDs and MM funds achieves your goals with relative certainty, then I won't say it's a bad thing to do. But remember that the historical record of the stock market is to far outpace the return of cash-like instruments over multi-year durations. My big concern is this : I’m 64 wife is 67,,if the market has a big correction and say our investments drop 30 percent .. I doubt we will live long enough to recoup .. Where laddered CDs or MM accounts , while they may not make the returns that the investment do .. I would still be further ahead ??? Ahead for what purpose? Planning on leaving a...
- Fri Jun 30, 2023 3:54 am
- Forum: Personal Finance (Not Investing)
- Topic: State Farm auto vs. everybody else
- Replies: 60
- Views: 7304
Re: State Farm auto vs. everybody else
I'm shopping auto insurance for the first time in 40 years. Farmers has been going up, up, up..... State Farm is quoting much better rates. It had me scratching my head until I learned that, unlike most other carriers (including Farmers), State Farm does NOT offer accident forgiveness. Is this why their rates are so much more attractive? I have never had an accident claim (or any other non-glass claim) in over 40 years of driving, so I'm not really concerned about needing "forgiveness" anytime soon. Yeah, I know, famous last words..... We're both retired and drive combined less than 5000 miles a year, mostly around our safe town. Thanks for any inputs. Have you looked at Amica? Curious if they may be an option for you. Their clie...
- Fri May 26, 2023 1:46 pm
- Forum: Personal Finance (Not Investing)
- Topic: Should I Accept this Job Offer?
- Replies: 60
- Views: 9455
Re: Should I Accept this Job Offer?
Sounds like the work from home aspect is important to you. Why not call the hiring manager and confirm the details on how many in office days per week are required for the role? If you receive a satisfactory answer, seems reasonable to move to the new job. Why wouldn’t you take getting paid more for the same role? You can establish your reputation at a new company and try to move up from there.
- Thu May 18, 2023 6:31 am
- Forum: Personal Finance (Not Investing)
- Topic: Moving to PA from MD for tax reasons
- Replies: 54
- Views: 4866
Re: Moving to PA from MD for tax reasons
Keep in mind that PA is one of only about five states that has an inheritance tax. It's very substantial for all but direct descendants and lineal heirs. Other than the inheritance tax, it's pretty friendly toward retirees. 4.5 percent on transfers to direct descendants and lineal heirs; 12 percent on transfers to siblings; and. 15 percent on transfers to other heirs , except charitable organizations, exempt institutions and government entities exempt from tax. https://www.revenue.pa.gov/TaxTypes/InheritanceTax/Pages/default.aspx#:~:text=4.5%20percent%20on%20transfers%20to,government%20entities%20exempt%20from%20tax. Added: Inheritance tax payments are due upon the death of the decedent and become delinquent nine months after the individua...
- Wed Apr 19, 2023 6:46 am
- Forum: Personal Consumer Issues
- Topic: Two month family trip - Hawaii or Western US
- Replies: 34
- Views: 3632
Re: Two month family trip - Hawaii or Western US
Your trip is long enough that I think I’d prefer doing some of both. Something along the lines of visiting two or three national parks in the west, then flying to Hawaii and ending there.
(My goodness do I wish I had the time and resources to pull off a trip like this. Enjoy!)
(My goodness do I wish I had the time and resources to pull off a trip like this. Enjoy!)
- Mon Jan 02, 2023 8:21 am
- Forum: Personal Consumer Issues
- Topic: Animated Bodyweight App?
- Replies: 5
- Views: 1040
Re: Animated Bodyweight App?
I second kboges channel as a great resource. My goodness is he fit!
Another great YouTube channel for calisthenics is Calimove (Calisthenicmovement). They have a paid app that I’ve never tried, but also haven’t needed: their YouTube content is very thorough and has a phenomenal production value. They explain concepts in an understandable fashion with excellent accompanying visuals.
- Mon Jan 02, 2023 8:01 am
- Forum: Investing - Theory, News & General
- Topic: Official Registration For The 2022 Boglehead Contest
- Replies: 733
- Views: 41521
Re: Official Registration For The 2022 Boglehead Contest
Top 5?! What?! Finally my pessimistic guessing gets close!
Here’s to a better 2023 for all Bogleheads!
Here’s to a better 2023 for all Bogleheads!
- Mon Jan 02, 2023 7:47 am
- Forum: Investing - Theory, News & General
- Topic: REGISTRATION FOR THE 2023 BOGLEHEAD CONTEST
- Replies: 672
- Views: 40217
Re: REGISTRATION FOR THE 2023 BOGLEHEAD CONTEST
2995
Here’s hoping my guess is wrong again!
Here’s hoping my guess is wrong again!
- Fri Oct 14, 2022 7:21 pm
- Forum: Personal Consumer Issues
- Topic: Maui - things to do for 6 day trip
- Replies: 30
- Views: 3324
Re: Maui - things to do for 6 day trip
Hello Compound, Thanks for the tip of reserving at Wai’anapanapa state beach (was not aware). If I start my Road to Hana trip at 10AM, what time slot should I pick as it says, I need to leave when my time slot ends. Would be helpful, if you can provide more info on this. Went recently. Kids of similar age to yours. Road to Hana was amazing. Some stops we loved were: 1. Wai’anapanapa state beach (Black sand beach). Reservations in advance required. Reservations are for specific time slots and sell out; make sure to secure them well before you travel. The hiking is wonderful. 2. Red sand beach is stellar. The hike there can be a bit tricky, but the payoff is fantastic. 3. Pipiwai trail was planned but we didn’t make it there. The kids had so...
- Thu Oct 13, 2022 8:49 pm
- Forum: Personal Consumer Issues
- Topic: Maui - things to do for 6 day trip
- Replies: 30
- Views: 3324
Re: Maui - things to do for 6 day trip
Went recently. Kids of similar age to yours. Road to Hana was amazing. Some stops we loved were: 1. Wai’anapanapa state beach (Black sand beach). Reservations in advance required. Reservations are for specific time slots and sell out; make sure to secure them well before you travel. The hiking is wonderful. 2. Red sand beach is stellar. The hike there can be a bit tricky, but the payoff is fantastic. 3. Pipiwai trail was planned but we didn’t make it there. The kids had so much playing at Hamoa beach, we ran out of time. Going to have to make another trip someday! Enjoyed snorkel tour to Molokini crater. It was worth one trip, but found plenty of great snorkeling spots on South Maui near where we stayed such that I would not do the tour aga...
- Sat Oct 01, 2022 6:44 pm
- Forum: Personal Consumer Issues
- Topic: Refrigerator Door Automatically closing - is that normal?
- Replies: 29
- Views: 2081
Re: Refrigerator Door Automatically closing - is that normal?
No, that door behavior is not normal. A slow close, sure. Slamming shut, no way.
Considering the installers couldn’t fix it (and if Samsung won’t send their own repair person), sounds like it’s time for a product replacement.
Considering the installers couldn’t fix it (and if Samsung won’t send their own repair person), sounds like it’s time for a product replacement.
- Thu Aug 25, 2022 4:03 pm
- Forum: Personal Investments
- Topic: Sell Total Bond at loss for iBond
- Replies: 20
- Views: 1319
Re: Sell Total Bond at loss for iBond
Keep in mind you have to hold iBonds at least a year before redemption, there is a 3 month interest forfeiture if redeemed before 5 years, and the interest rate resets every 6 months in pace with inflation. I’m not saying iBonds are a bad investment, rather they may not fit the plan you appear to be outlining as much as you’d like.youngern wrote: ↑Thu Aug 25, 2022 3:04 pm I have too many bonds. Currently around 12% of portfolio and would like it to be closer to 5%. Should I sell VBTLX at a loss of 11% to buy ibonds at 9.6%, and then when the interest on ibonds falls sell them and place that money in stocks?
40 years til retirement. It seems like converting the bonds to stocks makes more sense than long term holding bonds. no?
- Thu Aug 25, 2022 3:57 pm
- Forum: Personal Investments
- Topic: I botched my Backdoor Roth execution.... please help!
- Replies: 7
- Views: 1032
Re: I botched my Backdoor Roth execution.... please help!
This (if assumptions above are correct)HomeStretch wrote: ↑Thu Aug 25, 2022 3:48 pm Welcome to the forum!
Are you saying you made a 2021 nondeductible TIRA contribution by April 15, 2022 and you converted that contribution to Roth on April 18, 2022?
If yes, the contribution for 2021 made in 2022 would be entered into TurboTax as part of your 2021 tax return data entry (and reported on Form 8606) but the conversion made in 2022 would be reported as part of your 2022 return (you will receive a 2022 Form 1099-R in Jan. 2023).
- Mon Aug 01, 2022 2:55 pm
- Forum: Personal Finance (Not Investing)
- Topic: Have you ever used your emergency fund?
- Replies: 272
- Views: 28801
Re: Have you ever used your emergency fund?
I’ve been thinking about EFs recently as well and have been considering what to do with ours. We have a sizeable EF/cash reserves account and haven’t needed to tap into it to any appreciable degree. I’m trying to decide if we should do what others have done and do away with the “bucket” of EF, and just have the portfolio itself serve as the EF. I feel a strange sense of attachment to the fund, kinda like a security blanket of sorts. Maybe it’s time to let it go.
- Tue Jul 19, 2022 10:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: Gift from a US citizen to a Canadian citizen
- Replies: 3
- Views: 714
Re: Gift from a US citizen to a Canadian citizen
What we have no idea about is the tax implications. Do the usual US gift tax issues apply when the recipient is not a US citizen? (i.e. can gift up to a certain amount, which I believe is presently $16k, without issue and large amounts as long as it’s declared on tax forms and counts against lifetime total gift amount). Yes, up to $16,000 need not be declared on a tax form. Amounts over that do and count against your lifetime exclusion. As for what Canada does, that's always been a mystery to me. I point out the Canadian Income Tax Act does not provide a clear definition of “income.”, but The Supreme Court of Canada in Wood v M.N.R. stated that defining "income for income tax purposes has been left to the courts. Income is to be under...
- Mon Jul 18, 2022 4:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Gift from a US citizen to a Canadian citizen
- Replies: 3
- Views: 714
Gift from a US citizen to a Canadian citizen
I have a family member who is a US citizen and wants to potentially help a family member in Canada with a house down payment. This money would be a gift. What we have no idea about is the tax implications. Do the usual US gift tax issues apply when the recipient is not a US citizen? (i.e. can gift up to a certain amount, which I believe is presently $16k, without issue and large amounts as long as it’s declared on tax forms and counts against lifetime total gift amount). Even more unclear for us is on the Canadian side: are there gift taxes that the recipient would need to consider? Are there dollar amounts that would need to be thought of (such as dividing larger gifts into smaller gifts over multiple years to be below a tax exemption leve...
- Tue Mar 01, 2022 7:05 pm
- Forum: Personal Consumer Issues
- Topic: Loosening the purse strings: Tesla Model Y vs Lexus ES/RX?
- Replies: 127
- Views: 11793
Re: Loosening the purse strings on a luxury car at age 50?
Count me in the “permission granted” crowd. I can relate. Old habits die very hard sometimes. It can be hard, even very hard, to spend money on luxuries, when you’ve been telling yourself that you don’t need them and they don’t mesh well with your self-perception. A close friend of mine is very well-off. He owns many millions in property. He was learning the game of golf. For years, maybe five, he was playing with the crappiest clubs that he got as hand-me-downs. He knew the clubs didn’t fit him right and were hampering his progress, but he wouldn’t buy a new set of golf clubs even though he wanted them and could very easily afford them. It’s a rosy ending to the story: he eventually got the clubs (after much cajoling!) and loved them. The ...
- Wed Feb 16, 2022 7:04 pm
- Forum: Personal Consumer Issues
- Topic: Pacific Coast Highway Roadtrip
- Replies: 33
- Views: 3169
Re: Pacific Coast Highway Roadtrip
when we did this in the 80s (heading south as you propose) on a more northern stretch it was a nightmare of RVs heading north. drove from tahoe to I-5 up to redding then west to the coast then south to san francisco felt like we were going to get run off the road onto the rocks below. I would drive north not south were I to do it again. YMMV, but I would carefully consider whether driving northbound is the better. IMHO it isn't. When driving SOUTH you are making right turns into scenic pullouts and right turns again when you get back on the road. Plus, when you are driving along you (or more likely hopefully, your passengers) have an unimpeded view of the scenery. True, you are closer to the edge, but there is a far greater chance of getti...
- Sun Jan 16, 2022 8:29 am
- Forum: Personal Investments
- Topic: -----
- Replies: 235
- Views: 32936
Re: Early retirement plan advice (39yo, $880k, ~3.5% withdraw)
I think OP will be fine, as long as they maintain a solid backup plan. Expenses are very low, so if the investment numbers start trending down to a point where OP needs to reevaluate their plan, OP should be able to easily get a relatively low paying job or part time job and do just fine. Not saying this is the strategy I would take, but the OP seems convinced on retiring now, and I think they will do fine.
- Sat Jan 01, 2022 10:05 am
- Forum: Personal Investments
- Topic: Backdoor Roth IRA 2022
- Replies: 14
- Views: 2541
Re: Backdoor Roth IRA 2022
I really liked this article that addresses your question, and different scenarios to plan for: https://thefinancebuff.com/what-if-congress-bans-backdoor-roth.html Best bet is to do it and worst case (according to this) is that you would just have to spend some time unwinding the conversion. Since I JUST had to do this (thanks to other Bogleheads instructions), doing a recharacterization with Fidelity online was incredibly simple and took 5 minutes. Thanks for posting the tfb article. It’s helpful to think through the possibilities. I think I’m going to wait to the end of the year or whenever the legislation gets figured out. I don’t want to take the chance of money getting stuck in a non-deductible tIRA (would rather have it in taxable).
- Sat Jan 01, 2022 9:58 am
- Forum: Investing - Theory, News & General
- Topic: Official Registration For The 2022 Boglehead Contest
- Replies: 733
- Views: 41521
- Thu Dec 23, 2021 5:53 am
- Forum: Personal Consumer Issues
- Topic: Any Free Lunches Out There?
- Replies: 130
- Views: 14425
- Thu Dec 23, 2021 5:12 am
- Forum: Personal Finance (Not Investing)
- Topic: Spouse....Poor review [at work]
- Replies: 157
- Views: 20459
Re: Spouse....Poor review
Oh, sorry to burst your bubble but you will get at least 5 more pages of responses. And probably 1 or 2 more posts in 3-5 years. We are on our way — go Bogleheads! Thanks all. We have enough feedback. Merry Christmas. OP, while the above was said in jest, I wanted to let you know that I really appreciate your post and am learning from the many responses. There are already a lot of gems that provide insight into how to respond to negative performance reviews in this thread. I have also learned a lot from those posters discussing the issue from the management perspective. My sincere hope and reason for my post is that (this thread stays open and) you circle back when the time is right and provide an update on your spouse’s response and how i...
- Thu Dec 23, 2021 4:51 am
- Forum: Personal Finance (Not Investing)
- Topic: Backdoor Roth IRA
- Replies: 11
- Views: 2125
Re: Backdoor Roth IRA
I’m not certain about your first question, so will leave that to others.
As to your second question, I assume what you’ve read about contribution and conversion before December 31 being “less messy” has to do with tax filing. If you haven’t already, you should get familiar with how form 8606 works, where you’d be reporting this:
https://www.irs.gov/pub/irs-pdf/f8606.pdf
While perhaps slightly “cleaner,” I don’t think it would be especially cumbersome to work through if your contribution and/or conversion ends up occurring after 2022 has begun, but please see for yourself. There are online articles on how form 8606 is to be filled out for the Backdoor Roth that you can seek out should you need specific guidance on the form.
As to your second question, I assume what you’ve read about contribution and conversion before December 31 being “less messy” has to do with tax filing. If you haven’t already, you should get familiar with how form 8606 works, where you’d be reporting this:
https://www.irs.gov/pub/irs-pdf/f8606.pdf
While perhaps slightly “cleaner,” I don’t think it would be especially cumbersome to work through if your contribution and/or conversion ends up occurring after 2022 has begun, but please see for yourself. There are online articles on how form 8606 is to be filled out for the Backdoor Roth that you can seek out should you need specific guidance on the form.
- Tue Jul 20, 2021 6:56 pm
- Forum: Personal Finance (Not Investing)
- Topic: How to withdraw $250K with the least impact?
- Replies: 67
- Views: 7682
Re: How to withdraw $250K with the least impact?
$250,000!!!
I just want to ensure that you are looking at this issue from all avenues — not just how to pay, as has been the focus of this thread, but if the amount you’re slated to pay could be reduced. Please confirm that you have cross shopped this estimate with multiple hospitals and this was the best that came up?
I just want to ensure that you are looking at this issue from all avenues — not just how to pay, as has been the focus of this thread, but if the amount you’re slated to pay could be reduced. Please confirm that you have cross shopped this estimate with multiple hospitals and this was the best that came up?
- Wed Jul 14, 2021 6:34 pm
- Forum: Personal Investments
- Topic: 6-month emergency money idea
- Replies: 19
- Views: 1639
Re: 6-month emergency money idea
I'm deciding what to do with my "6-months of emergency money". I've read that normally, people use a money-market account for it. But I think if I put in a little work, I can get better interest. Here's what I'm looking at: Put 1 month of the money in a 6-month cd. Do this every month for 6 months. Then, keep renewing each one, every time its 6-month term is over. This way, I'll always have 1-month supply of money coming available within 1 month. But how to survive the 30 days until it is available? Have a 7th month of money quickly available somewhere else (regular savings? money market?) Is there any downside I haven't accounted for? (Assuming it's not a bunch of work to renew each cd, once a month.) Have you looking into 6 mon...
- Mon Jul 12, 2021 7:22 pm
- Forum: Personal Finance (Not Investing)
- Topic: IRS tells me to call then disconnects me
- Replies: 38
- Views: 8484
Re: IRS tells me to call then disconnects me
When I call that number, and enter all my details again, then it asks for the extension to speak to a real human, then it says "due to high volume of calls... blah blah blah... we can't assist you at this time" and then disconnects me. If you keep calling (different days and times), you're likely to eventually get through. ^^^^ This. I’ve been battling an IRS issue with my mother’s account for over a year. About 3 out 4 times I call, I eventually get disconnected or told to call back another time. Just keep trying and you may eventually get thru. I tend to believe calling very early in the day on a Tue, Wed, or Thur seems to get best results. It’s hugely frustrating. I had been trying to get through for weeks without luck. By som...
- Wed Jun 02, 2021 7:03 pm
- Forum: Personal Investments
- Topic: help picking 457b funds
- Replies: 7
- Views: 822
Re: help picking 457b funds
Do you have other investments? 401k? IRA? Taxable?
Do you have an overall asset allocation in mind to aim for?
You need to consider these 457b investments amongst the broader picture of your investments. That said, these two funds are cheapest and are broad index funds that represent many stocks and bonds:
Great-West S&P 500 Index Fund Inv MXVIX .52
Great-West Bond Index Fund Inv MXBIX .51
Do you have an overall asset allocation in mind to aim for?
You need to consider these 457b investments amongst the broader picture of your investments. That said, these two funds are cheapest and are broad index funds that represent many stocks and bonds:
Great-West S&P 500 Index Fund Inv MXVIX .52
Great-West Bond Index Fund Inv MXBIX .51
- Tue Jun 01, 2021 7:38 pm
- Forum: US Chapters
- Topic: Searching for Lost Contributors
- Replies: 537
- Views: 138140
Re: Searching for Lost Contributors
Completely agreed on Spirit Rider — very knowledgeable and helpful. Any reason given for the departure?Luckywon wrote: ↑Wed May 19, 2021 4:09 pmI miss him too, he is an amazing source of information. He is active in WCI, posting as recently as yesterday.life in slices wrote: ↑Wed Apr 28, 2021 12:38 pm Spirit Rider hasn't posted since early Feb - I always enjoy his very in depth and knowledgeable posts
- Tue Jun 01, 2021 12:41 pm
- Forum: Personal Investments
- Topic: Which mutual fund to add to taxable?
- Replies: 8
- Views: 1021
Re: Which mutual fund to add to taxable?
I should really start doing that. I’m a paper tax filing holdout, which I acknowledge is simply ridiculous. Old habits die hard!Silk McCue wrote: ↑Tue Jun 01, 2021 12:25 pmSince you can never tell in advance which will do better hold both. I use TurboTax so there is no complexity added to filing my taxes.Compound wrote: ↑Tue Jun 01, 2021 12:20 pm
Thanks for the advice. It appears, from working with the spreadsheets linked by another poster, that sometimes VTIAX and sometimes VSIAX is more tax efficient (depending upon the year). As I understand it, if I buy VTIAX in taxable I’d have the added “cost” of having another tax form to fill out as well.
Cheers
Thanks again!
- Tue Jun 01, 2021 12:23 pm
- Forum: Personal Investments
- Topic: Which mutual fund to add to taxable?
- Replies: 8
- Views: 1021
Re: Which mutual fund to add to taxable?
Yeah. The risk of tax law change seems to be the rub here. Either choice could become less favorable over time. I feel like the only thing I can do is proceed as if current tax law will stand (while knowing that it will certainly change).stan1 wrote: ↑Mon May 31, 2021 10:08 am I'd go with Total International Stock Market as the second fund.
I invest in taxable accounts with a decades long timeline so first focus is on broad market cap weighted investments. The tax efficiency tables are interesting but they will vary with time due to market conditions and tax laws. One cannot assume what you see in them today will be applicable even in a few years let alone decades.