Search found 169 matches

by DavidRoseMountain
Tue Dec 03, 2019 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: After tax contributions setup for solo 401k
Replies: 9
Views: 562

Re: After tax contributions setup for solo 401k

I use a third party administrator to restate the Fidelity solo 401k plan that enables me to make after tax contributions.
The Finance Buff blog has columns dedicated to this.
by DavidRoseMountain
Wed Nov 13, 2019 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on a Legal Settlement - Form 1040
Replies: 7
Views: 515

Re: Tax on a Legal Settlement - Form 1040

Ok I see that at the Cornell Law website. I'm hoping that "Any provision of federal, state, or local law or common law claims permitted under federal, state, or local law (1) providing for the enforcement of civil rights" might include the Equal Credit Opportunity act. I will send an email to the at...
by DavidRoseMountain
Wed Nov 13, 2019 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on a Legal Settlement - Form 1040
Replies: 7
Views: 515

Re: Tax on a Legal Settlement - Form 1040

Where does this list come from ? Here's what I see about the Equal Credit Opportunity Act: The Equal Credit Opportunity Act (ECOA) is a United States law (codified at 15 U.S.C. § 1691 et seq.), enacted 28 October 1974, that makes it unlawful for any creditor to discriminate against any applicant, wi...
by DavidRoseMountain
Wed Nov 13, 2019 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on a Legal Settlement - Form 1040
Replies: 7
Views: 515

Re: Tax on a Legal Settlement - Form 1040

Oh sorry I understand what you mean. You think that anti-discrimination settlements are only related to employment discrimination. According to my attorney, anti-discrimination law plays a role in financial products. The attorney said, "the case was one arising under a federal anti-discrimination la...
by DavidRoseMountain
Wed Nov 13, 2019 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on a Legal Settlement - Form 1040
Replies: 7
Views: 515

Re: Tax on a Legal Settlement - Form 1040

Thanks Mike.

I'm not sure what you mean that the attorney's fees are employment related.

DAvid
by DavidRoseMountain
Wed Nov 13, 2019 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Tax on a Legal Settlement - Form 1040
Replies: 7
Views: 515

Tax on a Legal Settlement - Form 1040

I won a $10,000 settlement from Discover card over a federal anti-discrimination law (specifically, the Equal Credit Opportunity Act). The lawyer keeps $4,500 of that, and I get $5,500. My lawyer writes: "First, on 1099s, chances are you won't get one at all. I don't have an obligation to send one. ...
by DavidRoseMountain
Tue Sep 17, 2019 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Any gotchas converting from SEP IRA to Solo 401K?
Replies: 26
Views: 1671

Re: Any gotchas converting from SEP IRA to Solo 401K?

I have seen election wording suggested along the lines of “I elect to contribute 100% of compensation up to the compensation limits...” rather than specifying a % (like 15%) or dollar amount. Is that not acceptable? Sure, if you know you are always going to contribute 100% of your compensation up t...
by DavidRoseMountain
Sat Jul 13, 2019 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Voya Financial roll over process
Replies: 8
Views: 1009

Re: Voya Financial roll over process

Down the road I will have to do this process.

Does Voya charge you a fee to close out your account with them ?
by DavidRoseMountain
Sun May 26, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Retire at 55, what's the magic number
Replies: 185
Views: 31140

Re: Retire at 55, what's the magic number

Depending on how much you're planning to spend your effective tax rate is really closer to 7% as far as federal goes.

You have to take into account that you'll have a standard deduction, and then layers of tax rates that start at 10%, and go successively higher.
by DavidRoseMountain
Sun May 26, 2019 9:28 am
Forum: Personal Investments
Topic: Question about solo 401k
Replies: 13
Views: 915

Re: Question about solo 401k

It's not too late to set up your solo 401k for 2019, and you can roll over your previous employer plan into it.
by DavidRoseMountain
Sun May 26, 2019 9:13 am
Forum: Personal Investments
Topic: Total US Market vs 1/3 Large, Mid, Small
Replies: 15
Views: 1611

Re: Total US Market vs 1/3 Large, Mid, Small

The graph that shows the equal weighting to the Wilshire 5000 index as compared to a market cap Wilshire 5000 index suggests that the equal weighting led to a much larger rate of growth of an investment (much higher CAGR).
by DavidRoseMountain
Tue Apr 09, 2019 9:03 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5088

Re: self-directed solo 401 k using Vanguard pooled account, etc.

Thanks Spirit Rider. I recall going over the spread sheet that Harry created many times over the last couple of years and came to the realization that making 403b salary deferrals as much as I was able to would facilitate greater after tax contributions to the individual 401k plan. Your formula is t...
by DavidRoseMountain
Mon Apr 08, 2019 9:29 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5088

Re: self-directed solo 401 k using Vanguard pooled account, etc.

But it wasn't an employer contribution to the 403b, it was an employee contribution (salary deferral) to the 403b.
by DavidRoseMountain
Mon Apr 08, 2019 8:38 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5088

Re: self-directed solo 401 k using Vanguard pooled account, etc.

I'm over 50 years old.

I see what you're saying. Then I guess there is a glitch in Harry Sit's excel spreadsheet for figuring it out.

https://docs.zoho.com/sheet/published.d ... 140934898a
by DavidRoseMountain
Mon Apr 08, 2019 12:29 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5088

Re: self-directed solo 401 k using Vanguard pooled account, etc.

Net Business Profit Deductible Self-employment tax Adjusted Net Business Profit Maximum Profit Sharing Employee Compensation Employee Salary Deferral Annual addition used by 403b day job Employer Profit Sharing Employee After tax Voluntary Contributions My numbers: 61762 -4363 57399 -11480 45919 -18...
by DavidRoseMountain
Tue Apr 02, 2019 10:39 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 5088

Re: self-directed solo 401 k using Vanguard pooled account, etc.

What a great thread for anyone doing the self-directed individual 401k with plans from a third party. I appreciate all the input.
by DavidRoseMountain
Sun Mar 24, 2019 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Dental Insurance deduction on 1040 Self Employed
Replies: 0
Views: 215

Dental Insurance deduction on 1040 Self Employed

I have health insurance through the ACA and I'm eligible for the insurance subsidy. I did the calculation by hand to figure out what my health insurance deduction is allowed, along with the health insurance subsidy using the IRS tax worksheets, P, W, X, and Y in Publication 974 which enables me to f...
by DavidRoseMountain
Fri Jan 11, 2019 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Stay in private practice medical or take VA job offer?
Replies: 45
Views: 4025

Re: Stay in private practice medical or take VA job offer?

A friend of mine worked as a primary care physician in 2 different VA medical settings, one was in a hospital and the other was an outpatient medical setting. In both cases my friend said the experience with the VA was very negative. The physicians are overloaded with patients, physicians are consta...
by DavidRoseMountain
Thu Dec 13, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity HSA - Account Closed (Risk Department)
Replies: 20
Views: 3511

Re: Fidelity HSA - Account Closed (Risk Department)

Wow this is superdisturbing since I have a self employed 401k, credit card, and hopefully my HSA with Fidelity.
by DavidRoseMountain
Sun Nov 18, 2018 3:19 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th [2018]
Replies: 1004
Views: 106196

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

So guidance to get out of Saturna closing fee is pull all cash then close? Given that Saturna is a brokerage account, I'm wondering if couldn't be transferred as is? They still may charge a transfer or account closing fee! Sorry didn't clarify well enough. That is what I'm trying to do is avoid the...
by DavidRoseMountain
Sat Nov 03, 2018 12:20 pm
Forum: Personal Investments
Topic: How to handle individual 401k administration
Replies: 14
Views: 1190

Re: How to handle individual 401k administration

Discountsolo401k has a salary deferral election form that you fill out by the end of the year for the following year. In this form you determine how much you will be saving for deferral. If you will be doing the megabackdoor roth then there is also an In-Plan Roth Conversion Form that you fill out. ...
by DavidRoseMountain
Wed Sep 26, 2018 7:46 pm
Forum: Investing - Theory, News & General
Topic: Economic reasons for rate increase by the Fed?
Replies: 71
Views: 6490

Re: Economic reasons for rate increase by the Fed?

A healthy amount of inflation is good for the economy because it makes debt worth less, and therefore permits the burden of that debt to become less onerous over time. IF the Federal Reserve raises interest rates too much too quickly then inflation stays low for too long and the debt burden continue...
by DavidRoseMountain
Tue Sep 25, 2018 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Short Term Insurance vs ACA 2019 edition
Replies: 12
Views: 967

Re: Short Term Insurance vs ACA 2019 edition

You might need 2 health insurance policies simultaneously, an ACA plan, and one of the short term insurance plans for when you are living out of South Dakota.
by DavidRoseMountain
Tue Sep 25, 2018 10:42 am
Forum: Personal Investments
Topic: Ally Savings vs Vanguard Prime Money Market Fund - Need Advice
Replies: 99
Views: 21088

Re: Ally Savings vs Vanguard Prime Money Market Fund - Need Advice

Do you pay state income tax? If your marginal rate is 5% a new 13-week T-bill at 2.18% has a taxable equivalent yield of 2.30%. By end of next week probably more like 2.25% and 2.37% TEY (assuming 5% state tax rate). If you have a regular non-retirement brokerage account at Schwab, Fidelity, Vangua...
by DavidRoseMountain
Tue Sep 25, 2018 9:58 am
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 1570
Views: 170247

Re: [What TV Show Have You Recently Watched?]

I just loved "Anne with an E" on Netflix
I was surprised at how progressive the plot became given that it takes place in the mid 19th century.
by DavidRoseMountain
Tue Sep 25, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 8931

Re: Someone stole my check from the mail, changed the amount, and deposited it

Thanks all for the replies. For those suggesting I file a police report - would I do that in the county/area I live in? I ask, because I live between 2 counties in 2 states - and may have mailed it from either one. Based on the previous post it sounds like federal authorities, FBI, Postmaster need ...
by DavidRoseMountain
Tue Sep 25, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: 2019 ACA prices out
Replies: 47
Views: 5629

Re: 2019 ACA prices out

... I've seen absolutely no advertising or information regarding the open enrollment. I got one very curt email from healthcare.gov regarding 2019. That’s by design. Promotion, advertising and facilitation has been cut to the bone. It’s almost as if the government didn’t want you to know about the ...
by DavidRoseMountain
Tue Sep 25, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Health care question - self employed- Whats your plan? Advice Needed
Replies: 24
Views: 2171

Re: Health care question - self employed- Whats your plan? Advice Needed

Not the OP here, but I have a realted question. For those who are self employed, I understand health insurance costs are deductable against income. How does that impact qualification for potential ACA subsidies? I'm toying with doing some consulting in early retirement. Current cost for an ACA poli...
by DavidRoseMountain
Tue Sep 25, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 8931

Re: Someone stole my check from the mail, changed the amount, and deposited it

Thanks all for the replies. For those suggesting I file a police report - would I do that in the county/area I live in? I ask, because I live between 2 counties in 2 states - and may have mailed it from either one. Based on the previous post it sounds like federal authorities, FBI, Postmaster need ...
by DavidRoseMountain
Tue Sep 25, 2018 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Fed up with health insurance situation
Replies: 117
Views: 8037

Re: Fed up with health insurance situation

I think OP's health insurance premium are pretty typical, if not lower cost, than most. We have access to a group plan through my spouse's work. The premiums are not subsidized through the employer. We pay about $1475/month for a $3500/person deductible with around $7000/person out of pocket maximu...
by DavidRoseMountain
Tue Sep 25, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: 2019 ACA prices out
Replies: 47
Views: 5629

Re: 2019 ACA prices out

Is there a link on the healthcare.gov site that shows the available plans/prices for 2019? I can't seem to find it. It will only let me browse 2017 and 2018 plans and prices. They will be Nov 1st when open enrollment begins. I've seen absolutely no advertising or information regarding the open enro...
by DavidRoseMountain
Mon Sep 24, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Self Directed Solo 401k - any one doing it for investing here?
Replies: 3
Views: 455

Re: Self Directed Solo 401k - any one doing it for investing here?

If you do investing in property within a self directed solo 401k there are many rules regarding fixing up the property that can be easily overlooked. Breaking these rules can create significant problems.
by DavidRoseMountain
Sun Sep 02, 2018 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Earn 1.5% on your checking account without the usual hoops (at Fidelity)
Replies: 72
Views: 15311

Re: Earn 1.5% on your checking account without the usual hoops (at Fidelity)

I get that you can use the debit card to withdraw cash at the ATM machine.
But can you also use the debit card to deposit cash at the ATM machine with the Fidelity Cash Management account ?
Or with Vanguard's Advantage account ?
by DavidRoseMountain
Sun Sep 02, 2018 11:53 am
Forum: Personal Investments
Topic: How to implement Mega Backdoor Roth with Solo 401K?
Replies: 24
Views: 2929

Re: How to implement Mega Backdoor Roth with Solo 401K?

Here was my journey into doing exactly what you're talking about: It includes links on here that included discussion with TFB and Spiritrider, both of whom provide key and vital input. https://forum.mrmoneymustache.com/taxes/anyone-execute-a-mega-backdoor-roth-in-solo-401k/ I did not know that you ...
by DavidRoseMountain
Sun Sep 02, 2018 10:14 am
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1247
Views: 117674

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

Let's take a look at the differences between the US and International for a moment. United States, Unified market. Negligible internal trade barriers. Right to travel internally is classified as a fundamental right. Common Language Common Tax regime. * Common Securities regulations Inefficiencies i...
by DavidRoseMountain
Sun Sep 02, 2018 8:51 am
Forum: Investing - Theory, News & General
Topic: Can a 403b convert to Mega backdoor Roth?
Replies: 9
Views: 1493

Re: Can a 403b convert to Mega backdoor Roth?

A mega backdoor Roth is a way to transfer after tax contributions to a Roth.

But if you're no longer with this employer I don't think you can make after tax contributions to this 403 b anymore.
by DavidRoseMountain
Sun Sep 02, 2018 8:40 am
Forum: Personal Investments
Topic: Multiple Mega Backdoors?
Replies: 8
Views: 925

Re: Multiple Mega Backdoors?

I agree with your interpretation of the limits. I would even suggest that a 457 would also have an additional separate limit. For high income employees of non profit organizations (aka doctors), this can be valuable. Of course, many plans have their own contribution limits as well (typically 25%) a...
by DavidRoseMountain
Sun Sep 02, 2018 8:24 am
Forum: Personal Investments
Topic: How to implement Mega Backdoor Roth with Solo 401K?
Replies: 24
Views: 2929

Re: How to implement Mega Backdoor Roth with Solo 401K?

Here was my journey into doing exactly what you're talking about:

It includes links on here that included discussion with TFB and Spiritrider, both of whom provide key and vital input.

https://forum.mrmoneymustache.com/taxes ... solo-401k/
by DavidRoseMountain
Sun Sep 02, 2018 8:07 am
Forum: Personal Investments
Topic: Ultra Short Term Bond ETF ?
Replies: 32
Views: 4659

Re: Ultra Short Term Bond ETF ?

Vanguard Prime Money Market Fund (VMMXX) current SEC Yield = 2.08% (very safe but not FDIC insured); and Vanguard Ultra Short-term Bond Fund Investor Shares (VUBFX) current SEC Yield = 2.42% (not an ETF, so no bid ask issue) So the year to date return on Vanguard Ultra Short-term Bond Fund has only...
by DavidRoseMountain
Fri Aug 31, 2018 1:27 pm
Forum: Personal Investments
Topic: Ultra Short Term Bond ETF ?
Replies: 32
Views: 4659

Re: Ultra Short Term Bond ETF ?

I use SHV and ICSH with Interactive Brokers stock yield enchancement program. I've been getting extra 30 basis point Yield for ICSH with SYEP program for last couple months. So total around 2.6% distribution yield. Not bad for for .42 duration instrument . Do you pay a commission to buy ICSH throug...
by DavidRoseMountain
Wed Aug 29, 2018 10:39 pm
Forum: Personal Investments
Topic: Ultra Short Term Bond ETF ?
Replies: 32
Views: 4659

Re: Ultra Short Term Bond ETF ?

I use SHV and ICSH with Interactive Brokers stock yield enchancement program. I've been getting extra 30 basis point Yield for ICSH with SYEP program for last couple months. So total around 2.6% distribution yield. Not bad for for .42 duration instrument . Do you pay a commission to buy ICSH throug...
by DavidRoseMountain
Tue Aug 21, 2018 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Looking to provide free personal finance advice
Replies: 11
Views: 1631

Re: Looking to provide free personal finance advice

Is there a local bogleheads chapter with monthly meetings? If so I do believe they need people there to be speakers on various topics of personal finance.
by DavidRoseMountain
Tue Aug 14, 2018 4:10 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 1247
Views: 117674

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

We really can't predict the future so therefore there's no point in jumping out of international. One way that International can beat the US markets going forward is if Germany gets away from the economic theory of austerity with respect to the budgets of the individual Euro countries, and move towa...
by DavidRoseMountain
Mon Jun 25, 2018 9:41 pm
Forum: Personal Investments
Topic: Best Online Bank for parking cash?
Replies: 13
Views: 1837

Re: Best Online Bank for parking cash?

Is the 2.0% on the Vanguard money market fund a yield after or before the expense ratio for this fund?
by DavidRoseMountain
Tue Jun 12, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement
Replies: 74
Views: 8017

Re: Forbes: https://www.forbes.com/sites/josephcoughlin/2018/06/11/millennials-arent-having-kids-heres-why-thats-a-probl

When I bought my modest house in near downtown Ann Arbor in Dec. 1994 it was not considered an ideal location because of the urban qualities around me. Consequently, my house was cheaper to buy than a comparably sized home in a more suburban locale. Fast forward to today, my house is next to luxury ...
by DavidRoseMountain
Tue Jun 05, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 790
Views: 111251

Re: How much money do you want to retire?

It seems like no one is ever really content with what they have - as soon as they reach a huge amount of net worth for retirement, I see people moving the goalpost further out.
by DavidRoseMountain
Tue Jun 05, 2018 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth & self directed solo 401k
Replies: 34
Views: 3230

Re: Mega backdoor Roth & self directed solo 401k

My odyssey regarding after-tax contributions was on this thread:

viewtopic.php?f=2&t=244071
by DavidRoseMountain
Wed Apr 11, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution deadline. Can funds be deposited on that date?
Replies: 6
Views: 512

Re: Solo 401k contribution deadline. Can funds be deposited on that date?

I believe "constructive receipt" of the funds occurs on the day you make your online transaction.