Search found 166 matches

by schrute
Wed Jun 13, 2018 7:44 pm
Forum: Investing - Help with Personal Investments
Topic: Taking $1M+ Long Term Capital Gains
Replies: 68
Views: 6110

Re: Taking $1M+ Long Term Capital Gains

Options is a good idea. Look at collars, which buying the protective put is half the strategy; sell calls to pay for the puts so overall costs are nearly zero. Also, do you have $2M+ portfolio with lots of gains, or a much larger portfolio and $2M+ of gains alone? I don't suppose your cost basis is...
by schrute
Sun Jun 03, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Expensive house in HCOL area
Replies: 70
Views: 6226

Re: Expensive house in HCOL area

I would go with option 3 and pay cash for the home with no loan involved. I like option 3 because I feel it provides the most options for your future: - If all goes well with your and your partners career over the next 5 years, you'll both have substantial savings. - Having money in the bank means ...
by schrute
Sun Jun 03, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Have $2.5M at 30, career advice needed
Replies: 49
Views: 5167

Re: Have $2.5M at 30, career advice needed

Honestly your post is either a joke or you are severely out of touch with how well you are doing. Yes, you can't FIRE *today* in the Bay area. You certainly could in the next ~15-25 years depending on how much you want to focus on it. If you want to go sooner then yes, you can always move somewhere...
by schrute
Sun Jun 03, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Have $2.5M at 30, career advice needed
Replies: 49
Views: 5167

Re: Have $2.5M at 30, career advice needed

Honestly your post is either a joke or you are severely out of touch with how well you are doing. Yes, you can't FIRE *today* in the Bay area. You certainly could in the next ~15-25 years depending on how much you want to focus on it. If you want to go sooner then yes, you can always move somewhere...
by schrute
Sun Jun 03, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Any aerospace engineers? Pros v. cons of working for NASA v. private sector
Replies: 50
Views: 4576

Re: Any aerospace engineers? Pros v. cons of working for NASA v. private sector

How about working for some interesting startups in the aerospace industry? This reminded me of a Planet Money series of three episodes about how things are in that industry. Even if he decides a different direction it’s a great story. Below is the link I found to the first episode. https://itunes.a...
by schrute
Sun Jun 03, 2018 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Any aerospace engineers? Pros v. cons of working for NASA v. private sector
Replies: 50
Views: 4576

Re: Any aerospace engineers? Pros v. cons of working for NASA v. private sector

Boeing, Lockheed, Northrop, and SpaceX are all pretty much the same in terms of what they do. They all build rockets, airplanes, or satellites with the U.S. as it's biggest customer. Nothing is being re-invented. Rockets are marginally more efficient, but the same thing as was used 20-30 years ago. ...
by schrute
Sat Jun 02, 2018 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000,000 in savings account to pay mortgage?
Replies: 32
Views: 4126

Re: $1,000,000 in savings account to pay mortgage?

delamer wrote:
Sat Jun 02, 2018 2:09 pm
Why would you ignore taxes in your scenario?

Wouldn’t you end up paying 30% (or maybe a lot more) in federal/state income taxes on the $20,000?
It's interest or dividends so I believe it's taxed at 15% or no more than 20%
by schrute
Sat Jun 02, 2018 11:46 am
Forum: Personal Finance (Not Investing)
Topic: Have $2.5M at 30, career advice needed
Replies: 49
Views: 5167

Re: Have $2.5M at 30, career advice needed

i would imagine with your high paying jobs that you are both talented and have stellar resumes that would be super competitive anywhere in the country. do you have family anywhere else? anywhere else you would prefer to live? is it possible to work similar jobs in smaller cities? i know some of my ...
by schrute
Sat Jun 02, 2018 12:33 am
Forum: Investing - Help with Personal Investments
Topic: Grad student to having an income: decision paralysis
Replies: 6
Views: 678

Re: Grad student to having an income: decision paralysis

Gotta ask. How do you have $200K in a Roth IRA coming out of graduate school? Worked a few years before starting grad school, contributed to Roth and 401k. Converted 401k all to Roth as I left my old job during the financial crisis - tax implications were cheap. Wound up being a good decision! Have...
by schrute
Fri Jun 01, 2018 11:58 pm
Forum: Investing - Help with Personal Investments
Topic: Grad student to having an income: decision paralysis
Replies: 6
Views: 678

Re: Grad student to having an income: decision paralysis

Age : 34 Roth IRA : 200k 401k : 30k iBonds and Cash Savings : 55k Debt : None Rent : 2200 / month Status : Single Residence : IL Income : 230k Currently maxing out my 401k, Roth, and iBonds. I have no opportunity for an HSA or mega-backdoor at my current employer. Based on my current trajectory, I ...
by schrute
Fri Jun 01, 2018 11:49 pm
Forum: Personal Finance (Not Investing)
Topic: Any aerospace engineers? Pros v. cons of working for NASA v. private sector
Replies: 50
Views: 4576

Re: Any aerospace engineers? Pros v. cons of working for NASA v. private sector

Next year my son will be finishing his masters in Applied Physics (BS in Engineering Physics and Computer Science), and unless something goes wrong he will likely finish with around a 3.9 GPA. He was a NASA Scholar until that program ended and was just named an Astronaut Scholarship Foundation Scho...
by schrute
Fri Jun 01, 2018 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000,000 in savings account to pay mortgage?
Replies: 32
Views: 4126

Re: $1,000,000 in savings account to pay mortgage?

OP, California is a non-recourse loan state. If the house is underwater, you could walk away from the house. So, why would you tie up a lot of your money into the house? KlangFool Housing is massively expensive and to afford it you either need to plop a huge down payment (essentially pay it off), m...
by schrute
Fri Jun 01, 2018 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000,000 in savings account to pay mortgage?
Replies: 32
Views: 4126

Re: $1,000,000 in savings account to pay mortgage?

If the market goes down, I'd be screwed to pay my mortgage (not saying I have this money, but discussing)
by schrute
Fri Jun 01, 2018 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000,000 in savings account to pay mortgage?
Replies: 32
Views: 4126

$1,000,000 in savings account to pay mortgage?

If you bought a house that was $1.25M in the Bay Area, wouldn't it make sense to put the 20% deposit down and if you had remainder cash sitting around into a bank account or in a CD that earns 2% interest to effectively help pay your mortgage payments for you? Mortgage: Assuming 3.98% mortgage inter...
by schrute
Mon May 14, 2018 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most deduction you can get with mortgage interest deduction for 2018?
Replies: 10
Views: 1891

Re: What is the most deduction you can get with mortgage interest deduction for 2018?

Keep in mind that SALT $10k includes the sales tax deduction now as well :( But sales, SALT and morgatage interest are part of itemized deductions right? So if there's more than >$24K if MFJ then it makes sense to take it, no? I'm trying to figure out what is the cap on mortgage interest from a ded...
by schrute
Sun May 13, 2018 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most deduction you can get with mortgage interest deduction for 2018?
Replies: 10
Views: 1891

Re: What is the most deduction you can get with mortgage interest deduction for 2018?

When was the house purchased? Not purchased yet, looking potentially. I'm trying to see if for taxes in 2018, the deduction makes sense? SALT + Mortgage Interest = itemized deduction which I imagine would be greater than the $24K standard deduction. It looks like interest would be $30,000 +$10,000 ...
by schrute
Sun May 13, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most deduction you can get with mortgage interest deduction for 2018?
Replies: 10
Views: 1891

Re: What is the most deduction you can get with mortgage interest deduction for 2018?

Gill wrote:
Sun May 13, 2018 6:36 pm
Not sure what you’re asking. You’re essentially correct about the mortgage interest deduction and the SALT deduction. In addition you might have charitable and medical deductions.
Gill
Sorry, I guess I was actually the specific amount that becomes tax deductible.
by schrute
Sun May 13, 2018 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most deduction you can get with mortgage interest deduction for 2018?
Replies: 10
Views: 1891

What is the most deduction you can get with mortgage interest deduction for 2018?

What is the most you can take as a deduction with the mortgage interest rate deduction? I know it's up $750,000 @3.9% interest yields something like $25,000 deduction for a married couple? Does that sound right? SALT is capped at $10K, so I can't imagine anything else helps?
by schrute
Sun May 06, 2018 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

Re: How much should I save or would be available for health care in retirement?

Unlike an FSA, Whatever you have left in your HSA at the end of the year can be rolled over into the next year. Yes, HSA money can pay for Medicare premiums. Every year I have to roll it over to a new account? I just can't let it grow like an IRA on its own? HSA is similar to an IRA and does not re...
by schrute
Fri May 04, 2018 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

Re: How much should I save or would be available for health care in retirement?

Medicare has a monthly premium. It also has a deductible about $150-$180/year. With traditional Medicare, you also have a 20% copay for almost all covered services (some fully covered services like Flu Vaccines, preventive screenings, etc.). Medicare seems to not cover medications in the hospital w...
by schrute
Thu May 03, 2018 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

Re: How much should I save or would be available for health care in retirement?

Medicare has a monthly premium. It also has a deductible about $150-$180/year. With traditional Medicare, you also have a 20% copay for almost all covered services (some fully covered services like Flu Vaccines, preventive screenings, etc.). Medicare seems to not cover medications in the hospital w...
by schrute
Wed May 02, 2018 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

Re: How much should I save or would be available for health care in retirement?

Medicare has premiums. Many (most?) people also have supplemental insurance to cover the things Medicare does not. Alternatively, many people have a Medicare Advantage Plan with an insurance company. The Advantage plan takes the place of both Medicare and a supplemental plan. Medicare premiums are ...
by schrute
Wed May 02, 2018 8:22 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

Divorce in California? You are screwed. Stay woke. Why screwed? It's California. Community property state by default unless uncontested with a notarized agreement to walk with a different split. Even then, some judge can go all SJW white knight and force a 50/50 split (or worse). A large majority o...
by schrute
Wed May 02, 2018 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

How much should I save or would be available for health care in retirement?

I understand that Medicare has premiums and right now don't have a lot of health issues. I assume I can rely on Medicare, but probably not. Maybe that's where an HSA is advantageous, but since I have no health issues, not sure what extra costs would be.

What are your thoughts or your experience here?
by schrute
Wed May 02, 2018 7:43 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

I have been reading the above suggested link on bonds. Much more complex that I realized,but is going to help me in discussing with the Schwab advisor. I will have to spend a couple of hours on this link, there are lots of concepts to grasp. It is certainly answering the questions I have posed here...
by schrute
Sun Apr 29, 2018 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

WildCat48 wrote:
Sun Apr 29, 2018 3:01 pm
Divorce in California? You are screwed. Stay woke.
Why screwed?
by schrute
Sun Apr 29, 2018 1:40 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

I have been reading the above suggested link on bonds. Much more complex that I realized,but is going to help me in discussing with the Schwab advisor. I will have to spend a couple of hours on this link, there are lots of concepts to grasp. It is certainly answering the questions I have posed here...
by schrute
Sun Apr 29, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Elimination of unreimbursed employee expenses means no need to keep receipts?
Replies: 4
Views: 666

Elimination of unreimbursed employee expenses means no need to keep receipts?

So I kept receipts for entertainment and travel for unreimbursed employee expenses. Given that it's being eliminated, there's probably no need to collect it anymore for a deduction?
by schrute
Sun Apr 29, 2018 1:22 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

I have been reading the above suggested link on bonds. Much more complex that I realized,but is going to help me in discussing with the Schwab advisor. I will have to spend a couple of hours on this link, there are lots of concepts to grasp. It is certainly answering the questions I have posed here...
by schrute
Sun Apr 29, 2018 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

I have been reading the above suggested link on bonds. Much more complex that I realized,but is going to help me in discussing with the Schwab advisor. I will have to spend a couple of hours on this link, there are lots of concepts to grasp. It is certainly answering the questions I have posed here...
by schrute
Sat Apr 28, 2018 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

Would DFA Dimensional Fund Advisors qualify as active? https://www.bogleheads.org/wiki/Dimensional_Fund_Advisors I haven't used them, but have seen some discussions here and here are a couple of random threads; search for more. https://www.bogleheads.org/forum/viewtopic.php?t=211879 https://www.bog...
by schrute
Sat Apr 28, 2018 12:37 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

I live in a community property state (Cali) and this property is currently separate property (haven't touch it since being married). I'm married, but things are starting to go sour (we're working on it). Regardless, I wanted to think about keeping this separate if it comes to it. To those that don'...
by schrute
Sat Apr 28, 2018 11:58 am
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

I was asked by a friend to look over their portfolio and what their financial advisor had done for them. Their financial advisor was perfectly fine and had made basically the market return for them less their fees because the advisor kept them invested in passively-managed, low-expense ratio index ...
by schrute
Sat Apr 28, 2018 11:30 am
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Re: Advice on using a wealth manager or financial advisor?

" I can't manage directly"... Put it all in a S&P 500 index fund and leave it alone. There is nothing to manage! A typical wealth manager would require $2,000,000 in assets, 2% in fees and would underperform the S&P 500 index fund. A typical financial advisor would want 5% in fees and would underpe...
by schrute
Fri Apr 27, 2018 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on using a wealth manager or financial advisor?
Replies: 34
Views: 2767

Advice on using a wealth manager or financial advisor?

I have an account that I can't manage directly so looking to have a wealth manager or financial advisor manage the portfolio for me. Anyone have any experiences? Using Fidelity would be nice. Account is worth about $500,000 right now in a taxable brokerage account. Basically it would be nice to dire...
by schrute
Fri Apr 27, 2018 4:50 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity, meeting scheduled with the advisor, what to ask or expect .
Replies: 25
Views: 2614

Re: Fidelity, meeting scheduled with the advisor, what to ask or expect .

Having a meeting scheduled with the Fidelity advisor. Any suggestions what to discuss or what to expect. Does Fidelity has any levels, based on the assests held ? Do not see a need, but scheduled one, anyways. If you had meet with Fidelity, advisor, please share your experiences or what you will as...
by schrute
Tue Apr 17, 2018 9:33 am
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 1801

Re: Can I contribute to a Individual 401K if my income is only from W2?

If you made $23,000, then you could contribute: $18.5k (employee) + $4.5k (profit sharing) = $23k This is not correct. First, the maximum calculated employer contribution = 20% of net self-employment earnings (business profit from Schedule C - 1/2 SE tax from Schedule SE), not just business profit....
by schrute
Mon Apr 16, 2018 11:26 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 1801

Re: Can I contribute to a Individual 401K if my income is only from W2?

If that's a case, are there any restrictions on after tax dollars? Like if I have $10,000 in side income from cash for 2018, can I put $10,000 all in after tax dollar contributions with my solo 401K? There is a limit on the i-401k plan -- it's $55k or your net earnings, whichever is less. There is ...
by schrute
Mon Apr 16, 2018 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 1801

Re: Can I contribute to a Individual 401K if my income is only from W2?

You can't open or fund a solo 401k if you don't have a business/self-employment income. What if I have only $10K in income from said business, all cash and no 1099? Can I put 10,000 in? You must report all income regardless whether it is reported on a Form 1099-MISC or not. If it is income from a t...
by schrute
Sun Apr 15, 2018 9:59 pm
Forum: Investing - Help with Personal Investments
Topic: 2018 Tax Planning Help - New to US - Couple in Their 30s
Replies: 11
Views: 903

Re: 2018 Tax Planning Help - New to US - Couple in Their 30s

[*] Taking Advantage of the LLC. We have a single-member LLC that kicks out about 4K of monthly income. Any way to take advantage of this entity for tax purposes? For example, should I be looking at a self-employed 401k (too complicated?). Setting up a solo 401(k) is very simple. Take a look at thi...
by schrute
Sun Apr 15, 2018 10:42 am
Forum: Investing - Help with Personal Investments
Topic: 2018 Tax Planning Help - New to US - Couple in Their 30s
Replies: 11
Views: 903

Re: 2018 Tax Planning Help - New to US - Couple in Their 30s

Hello folks, long time lurker here coming out of the woodwork. Would appreciate any tips or advice. We are new to the US and still on a bit of a learning curve with how to legally minimize tax liability. Open minded! Our Situation live a typical Boglehead lifestyle What does this entail? What are y...
by schrute
Sat Apr 14, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Are you or have you filed an extension for taxes?
Replies: 8
Views: 414

Re: Are you or have you filed an extension for taxes?

When you file, it's just that little tiny form (quarter of a page) with your social security number and how much you owe in taxes, right? Nothing else? No, the something else is a check to pay the taxes if you owe taxes. I don't owe taxes, so I haven't sent a check in a long time. I am pretty sure ...
by schrute
Sat Apr 14, 2018 4:31 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 1801

Re: Can I contribute to a Individual 401K if my income is only from W2?

ShadowRegent wrote:
Sat Apr 14, 2018 2:08 pm
You can't open or fund a solo 401k if you don't have a business/self-employment income.
What if I have only $10K in income from said business, all cash and no 1099? Can I put 10,000 in?
by schrute
Sat Apr 14, 2018 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Are you or have you filed an extension for taxes?
Replies: 8
Views: 414

Re: Are you or have you filed an extension for taxes?

I file an extension every year. Once I even filed an extension of the extension and got approval to file in January of the following year without penalty (I was current on payments). I'm looking to file an extension for my tax return. Found some losses from years before that trying to sort out, I'm...
by schrute
Sat Apr 14, 2018 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 1801

Re: Can I contribute to a Individual 401K if my income is only from W2?

Day trading profits would be short term capital gains that would go on Schedule D - and don't think these would qualify for individual-401K contributions. What if I just use my W2 income? Can I create a solo 401K, pay the double tax on the income and put the remaining amount via backdoor? If I misu...
by schrute
Sat Apr 14, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Are you or have you filed an extension for taxes?
Replies: 8
Views: 414

Are you or have you filed an extension for taxes?

I'm looking to file an extension for my tax return. Found some losses from years before that trying to sort out, I'm not sure I'll be able to do it by the weekend. I assume I'll just file the extension. Have you filed before or this year? Has it been a problem for you? Did you wind up getting audite...
by schrute
Mon Apr 09, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 24
Views: 2255

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

especially since solo-401Ks aren't ERISA protected. Neither are rollover IRAs. A rollover IRA receives unlimited federal bankruptcy as does a one-participant 401k plan. Neither receive ERISA anti-alienation protection against creditors. Creditor protection for both of them is subject to state law. ...
by schrute
Sun Apr 08, 2018 6:25 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 1801

Can I contribute to a Individual 401K if my income is only from W2?

Can I contribute to an Individual or Solo 401K if my income is from my employer? What about if I have income from day trading stocks? I imagine there will be scrutiny from the IRS to consider that "earned income"?
by schrute
Sun Apr 08, 2018 3:15 pm
Forum: Investing - Help with Personal Investments
Topic: Solo-401k options if no after-tax contributions in Wife's 401k?
Replies: 24
Views: 2255

Re: Solo-401k options if no after-tax contributions in Wife's 401k?

Me: $220k in old 401k, $96k in rollover IRA (for which I’m kicking myself for now), $6k in Roth IRA Her: $80k in old 401k, $20k in current 401k with employer matching 4.5% up to max (so $4500/year). I had a brilliant plan of opening a solo-401k with E*Trade (flexible on brokerage), rolling my tradi...
by schrute
Sat Apr 07, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I invest in an HSA even though I don't go to the hospital much?
Replies: 18
Views: 1844

Re: Should I invest in an HSA even though I don't go to the hospital much?

Does it make sense to put money or invest in an HSA if I don't go to the hospital much? If you don't go to the hospital much, I would hope it's because you're healthy and safe and then you're going to also be concerned about your financial health >65 years old. Then, your HSA is a nice little IRA p...