Search found 1005 matches

by terran
Fri Oct 11, 2019 7:09 am
Forum: Personal Consumer Issues
Topic: Cheap Cell Phone Plan
Replies: 33
Views: 2663

Re: Cheap Cell Phone Plan

02nz wrote:
Thu Oct 10, 2019 11:21 am
I've been happy with Red Pocket, which lets you choose any of the four carriers. $5/mo for the minimum plan, if you buy a year: https://www.ebay.com/itm/133058476404
+1
by terran
Fri Oct 11, 2019 7:02 am
Forum: Investing - Theory, News & General
Topic: Buying after PR Crisis [Public Relations Crisis (Boeing 737 Max)]
Replies: 21
Views: 1719

Re: Buying after PR Chrisi [Public Relations Crisis (Boeing 737 Max)]

These things will be priced into the stock very quickly. For all you know someone already figured out the crisis was coming before it hit the major news outlets and it's already priced it. Beyond that, maybe the crisis signals larger problems at the company, or they're going to have lawsuits to payo...
by terran
Fri Oct 11, 2019 6:03 am
Forum: Personal Investments
Topic: Chase $750 for depositing 75K
Replies: 45
Views: 6262

Re: Chase $750 for depositing 75K

I'm seeing: - Eligible Accounts: personal checking, savings and/or J.P. Morgan investment accounts (You Invest Brokerage and accounts opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor or Financial Advisor). - Ineligible Accounts : any J.P. Morgan retirement accounts (such...
by terran
Wed Oct 09, 2019 10:23 am
Forum: Personal Investments
Topic: tIRA to backdoor Roth but missed 60 day conversion
Replies: 52
Views: 1754

Re: tIRA to backdoor Roth but missed 60 day conversion

Form 8606 should be filed with your taxes for the year in which you did the conversion.
by terran
Tue Oct 08, 2019 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing 401k money penalty free prior to 59 1/2
Replies: 18
Views: 2182

Re: Withdrawing 401k money penalty free prior to 59 1/2

Here's a good explanation of both the Roth conversion ladder and rule 72(t) methods: https://www.madfientist.com/how-to-acce ... nds-early/
by terran
Tue Oct 08, 2019 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Capital website?
Replies: 26
Views: 2224

Re: Personal Capital website?

I'll just quote what I said in another thread as it still sums up my current opinion on the topic: My thinking on this is companies get hacked all the time. If the companies at which I have financial accounts get hacked that's on them, if Mint/Personal Capital/etc get hacked and I gave them username...
by terran
Mon Oct 07, 2019 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Controlling Discretionary Spending
Replies: 43
Views: 2509

Re: Controlling Discretionary Spending

I think the idea of a waiting period between desire and purchase is generally a good one. My concern with the one day a month buying idea is that it might create a scarcity mindset that could backfire. As in "oh no, if I don't buy all the things today I have to wait a whole month, so I better buy an...
by terran
Sat Oct 05, 2019 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, 401K and taxes
Replies: 2
Views: 151

Re: SEP IRA, 401K and taxes

Look into the Qualified Business Income deduction. If her business is not a Specified Service Business or it is and her income (both your incomes if married) is low enough (still pretty high) then she's better off contributing to her workplace plan before a self employed plan because tax deferred co...
by terran
Thu Oct 03, 2019 1:30 pm
Forum: Personal Investments
Topic: Maxing out: Solo401k vs MegaBackDoor Roth?
Replies: 6
Views: 297

Re: Maxing out: Solo401k vs MegaBackDoor Roth?

Back to your actual question, given your high tax bracket I would be inclined to contribute as much as you can to a solo 401(k) rather than a Roth 403(b) (mega backdoor or otherwise).... Maybe I am misunderstanding what you mean, but It appears to me that you may be misunderstanding what this poste...
by terran
Thu Oct 03, 2019 1:16 pm
Forum: Personal Investments
Topic: Question regarding recharacterization vs. conversion of trad. IRA to Roth IRA
Replies: 19
Views: 451

Re: Question regarding recharacterization vs. conversion of trad. IRA to Roth IRA

Agreed, do the recharacterization. You can recharacterize any time up until your tax filing deadline, so I would just wait and see how our income shakes out. If you recharactize, you need to attach a statement like this to your taxes: "Taxpayer/Spouse {name} contributed $6000 to a traditional IRA on...
by terran
Thu Oct 03, 2019 1:05 pm
Forum: Personal Investments
Topic: Maxing out: Solo401k vs MegaBackDoor Roth?
Replies: 6
Views: 297

Re: Maxing out: Solo401k vs MegaBackDoor Roth?

You've got it a little backwards, but end up the right place in the end. 401(k) plans typically have separate total limits (2019 = $56k), but combined salary deferral limits (2019 = $19k). However, 403(b) plans for some reason that Spirit Rider can probably explain if so inclined share the $56k with...
by terran
Thu Oct 03, 2019 8:49 am
Forum: Personal Investments
Topic: Vanguard Solo 401(k)
Replies: 19
Views: 1223

Re: Vanguard Solo 401(k)

To my understanding, Vanguard Solo 401k plans do not allow roll in of external assets. Only allows contributions. Given that, I am not sure about your plans of moving to Vanguard, actually accomplish what you intend to do. I don't think that's true. I'm pretty sure you can amend your plan to Vangua...
by terran
Thu Oct 03, 2019 6:49 am
Forum: Personal Investments
Topic: Vanguard Solo 401(k)
Replies: 19
Views: 1223

Re: Vanguard Solo 401(k)

To my understanding, Vanguard Solo 401k plans do not allow roll in of external assets. Only allows contributions. Given that, I am not sure about your plans of moving to Vanguard, actually accomplish what you intend to do. I don't think that's true. I'm pretty sure you can amend your plan to Vangua...
by terran
Tue Oct 01, 2019 9:02 am
Forum: Personal Investments
Topic: Tuning my HSA
Replies: 6
Views: 353

Re: Tuning my HSA

If you're willing to put in the time (I am) I agree with Spirit Rider on the Fidelity recommendation. Remember that you'll want to continue to contribute to your workplace HSA through payroll deductions as this usually avoids FICA taxes while direct contributions to another HSA wouldn't.
by terran
Tue Oct 01, 2019 8:36 am
Forum: Personal Finance (Not Investing)
Topic: How can I reduce tax exposure?
Replies: 14
Views: 1452

Re: How can I reduce tax exposure?

Stop all reinvestments of divs & CGs in your non-retirement accounts. I never knew this was a bad thing. Can anyone explain in a nutshell why it is not recommended? It's not necessarily a bad thing, but the OP has some suboptimal investments for a taxable account, so by reinvesting dividends he's c...
by terran
Tue Oct 01, 2019 7:18 am
Forum: Personal Investments
Topic: Highly Compensated Employee & 401K limits
Replies: 41
Views: 4141

Re: Highly Compensated Employee & 401K limits

This is a law, not a policy of your employer, so it's not about limiting your match. I think there are some things they could do to help you (and other HCEs) out by providing a better match to make the plan a "Safe Harbor" plan, but I'm not sure how that works. The annual limit is combined between t...
by terran
Tue Oct 01, 2019 7:10 am
Forum: Personal Investments
Topic: Over contribution to Roth IRA—how to fix
Replies: 3
Views: 231

Re: Over contribution to Roth IRA—how to fix

You should talk to the company that holds your IRA. They'll need calculate any gains/losses that occurred between contribution and withdrawal and withdraw appropriately.
by terran
Tue Oct 01, 2019 7:03 am
Forum: Personal Finance (Not Investing)
Topic: UTMA Turning 21 and SSI Benefit Available Asset
Replies: 2
Views: 241

Re: UTMA Turning 21 and SSI Benefit Available Asset

That seems like it would be a good idea. I think https://specialneedsanswers.com/utma-accounts-could-cause-problems-for-ssi-beneficiaries-13989 was written before ABLE accounts were created, but it talks about doing this with a first party special needs trust (meant to hold the disabled individuals ...
by terran
Mon Sep 30, 2019 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Roth 401k or 401k: diversify tax risk or hit SS limits
Replies: 14
Views: 951

Re: Roth 401k or 401k: diversify tax risk or hit SS limits

Are you saying you expect your traditional 401(k) balances to cause your taxable income to be high enough such that (more of) your social security income will be taxable? That's certainly possible, although it's hard to predict exactly since it depends so much on how much your 401(k) grows. Or are y...
by terran
Mon Sep 30, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: How can I reduce tax exposure?
Replies: 14
Views: 1452

Re: How can I reduce tax exposure?

It sounds like you're already maxing out your retirement accounts to the extent you can. If your wife didn't have an existing traditional IRA I would mention that she could also contribute to a backdoor Roth based on your income. Wellington and Wellesley aren't the most tax efficient thing to have i...
by terran
Sun Sep 29, 2019 8:52 pm
Forum: Personal Investments
Topic: Can I hit my goal?
Replies: 9
Views: 1357

Re: Can I hit my goal?

Not everyone on bogleheads would agree, but 2% is excessively low even for a perpetual withdrawal rate IMO. https://earlyretirementnow.com/safe-wit ... te-series/ would be worth a look.
by terran
Sun Sep 29, 2019 6:26 pm
Forum: Personal Investments
Topic: Can I hit my goal?
Replies: 9
Views: 1357

Re: Can I hit my goal?

8% real is possible, but optimistic, I would say. You can hope for it, but I wouldn't plan for it. Do you really need $5M? That would support $150k/year at a conservative 3% withdrawal rate. Do you plan to stop working only if you become disabled, in which case will you get Social Security Disabilit...
by terran
Sun Sep 29, 2019 10:40 am
Forum: Personal Finance (Not Investing)
Topic: HSA when switching from high-deductible plan mid-year?
Replies: 4
Views: 224

Re: HSA when switching from high-deductible plan mid-year?

If you lose your hdhp midway through the year, you can contribute to the plan for the months you are covered. If you have the hdhp Jan through Nov, you can contribute for 11/12 , so $3117 individual, $6188 family. This site does the calculations for you. https://www.optum.com/content/dam/optum/cons...
by terran
Fri Sep 27, 2019 9:21 am
Forum: Personal Investments
Topic: Maxed out 401K
Replies: 6
Views: 1233

Re: Maxed out 401K

1. That depends. Some employers will "true up" the match at the end of the year buy giving you the match on the full amount you contributed even though you didn't contribute for the whole year, others won't. It's too late now, of course, but you should get an answer to that before you do the same ne...
by terran
Fri Sep 27, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Efficient way of transferring Euro to USD
Replies: 19
Views: 1226

Re: Efficient way of transferring Euro to USD

I've seen https://transferwise.com/us recommended. I don't know if it works for other denominations like Euro, but https://maplemoney.com/norberts-gambit/ is an interesting strategy that reduces exchange rate spreads by investing in a fund listed on both US and Canadian markets so you can buy the US...
by terran
Thu Sep 26, 2019 7:39 am
Forum: Personal Investments
Topic: Opening 457b - Am I doing this right???
Replies: 3
Views: 349

Re: Opening 457b - Am I doing this right???

Yes, you've done the math right to contribute in those proportions. You'll still need to rebalance as your asset allocation will change given differing performance between asset classes, but you can do that once a year or something.
by terran
Wed Sep 25, 2019 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Does a 457(b) plan count as a defined contribution plan for the annual additions limit?
Replies: 5
Views: 373

Re: Does a 457(b) plan count as a defined contribution plan for the annual additions limit?

I can tell you from personal experience that it is possible to contribute the full $19k to a governmental 457(b) in addition to the full $56k to a 403(b). I believe this is true for any combination of governmental or non-governmental 457(b) and 401(k)/403(b). I think I've seen some some universities...
by terran
Mon Sep 23, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Isn’t it A Roth IRA better than a Mega Backdoor 401k in this case?
Replies: 6
Views: 512

Re: Isn’t it A Roth IRA better than a Mega Backdoor 401k in this case?

Next year I am aiming to max the IRA, HSA, and the 401k to the $56k limit (including match). Assuming you don't have any previously deducted traditional IRA balances I think you plan is solid. However, given the above, it sounds like you expect to have enough income to max out everything next year?...
by terran
Sat Sep 21, 2019 7:37 am
Forum: Personal Finance (Not Investing)
Topic: What’s the difference between leasing and buying?
Replies: 15
Views: 1581

Re: What’s the difference between leasing and buying?

I could be wrong, but I suspect the OP is asking, "what is the cost difference between leasing and buying?"
by terran
Sat Sep 21, 2019 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement - not worry about withdrawal rate, but focus on portfolio size?
Replies: 68
Views: 5555

Re: Early retirement - not worry about withdrawal rate, but focus on portfolio size?

With a portfolio size of $1 billion, you don't have to worry about the withdrawal rate. Try a withdrawal rate of 15% and see long before you have to start worrying. I think figuring how to spend $150 million in a year would cause considerable worry, so I would start worrying immediately. Since anyt...
by terran
Fri Sep 20, 2019 10:36 am
Forum: Personal Investments
Topic: Mega Backdoor Roth vs. Taxable - Guideline?
Replies: 21
Views: 1030

Re: Mega Backdoor Roth vs. Taxable - Guideline?

My wife and I are working on drawing down our taxable while (over)contributing to tax advantaged accounts as we have more available space than we can afford to fill. I'll be just as happy if everything except day to day liquidity needs (even our emergency fund) ends up in tax advantaged accounts as ...
by terran
Fri Sep 20, 2019 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Best way to track / categorize spending?
Replies: 35
Views: 1866

Re: Best way to track / categorize spending?

My concern with the data aggregators like Mint and Personal Capital is the risk of data breaches, which are happening with an alarming frequency. Agreed. I don't necessarily think they're any more likely to get hacked than my financial account institutions, but I'm more worried about what happens i...
by terran
Fri Sep 20, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: What are some good life insurance policies?
Replies: 15
Views: 937

Re: What are some good life insurance policies?

I think the advice to buy insurance for insurance and investments for investment applies here too. You've already done that when it comes to insuring against the premature loss of your life by buying term life insurance. Now, perhaps you need to buy insurance to cover you for liability. Do you have ...
by terran
Fri Sep 20, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Best way to track / categorize spending?
Replies: 35
Views: 1866

Re: Best way to track / categorize spending?

My concern with the data aggregators like Mint and Personal Capital is the risk of data breaches, which are happening with an alarming frequency. Agreed. I don't necessarily think they're any more likely to get hacked than my financial account institutions, but I'm more worried about what happens i...
by terran
Wed Sep 18, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Liability vs step-up cost basis
Replies: 7
Views: 355

Re: Liability vs step-up cost basis

Do you have reason to believe you'll die before your spouse? If not, then it seems you're giving up the certainty of liability protection for the wager that you predecease your spouse.
by terran
Sun Sep 15, 2019 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Can I transfer part of a Solo 401(k)?
Replies: 17
Views: 1014

Re: Can I transfer part of a Solo 401(k)?

You can't have multiple solo 401(k)'s because, as you're seeing with the varying features of Fidelity and TD Ameritrade, the plan documents are not the same, so you would be maintaining two conflicting plan documents at the same time. You also can't have a solo 401(k) if you don't have an operating ...
by terran
Sun Sep 15, 2019 8:28 am
Forum: Personal Investments
Topic: Are my 403 and 457 worth the fees?
Replies: 28
Views: 1216

Re: Are my 403 and 457 worth the fees?

Here's a discussion on the topic from the wiki: https://www.bogleheads.org/wiki/401(k)# ... re_choices
by terran
Sun Sep 15, 2019 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Tax Deduction for work related expenses?
Replies: 4
Views: 403

Re: Tax Deduction for work related expenses?

As of the 2018 tax law unreimbursed employee expenses are no longer tax deductible. There are some exceptions to this, but the only one I see that could also be a federal employee is an Army Reservist. See https://www.irs.gov/publications/p529 I know you say you don't have an expense account and thi...
by terran
Sat Sep 14, 2019 11:02 am
Forum: Personal Investments
Topic: Indiv Roth 401k "Employee Salary Deferral"?
Replies: 5
Views: 461

Re: Indiv Roth 401k "Employee Salary Deferral"?

I suspect in this case you're deferring income, not deferring tax. The employEE contribution comes from your salary and is a deferral of that salary to a later date, while the employER contribution is profit sharing and is from the business profit portion of the business. Since as a self employed pe...
by terran
Fri Sep 13, 2019 9:22 am
Forum: Personal Investments
Topic: Leaving Payflex HSA - avoid account closure fee?
Replies: 44
Views: 6191

Re: Leaving Payflex HSA - avoid account closure fee?

I'm in the midst of the same issue. Still waiting to receive the < $1. My plan is to just eat the 20% penalty (a few cents) to avoid the extra paperwork/documentation. My reason for requesting the money be sent to me is just so Payflex doesn't get to profit off this (if everyone requests their $0.3...
by terran
Sun Sep 08, 2019 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Actually considering Roth 401k
Replies: 22
Views: 1894

Re: Actually considering Roth 401k

Wow, nice! I didn't even realize that was what was happening, but I just looked at the details and that's correct! I was just taking tax software from 2018 and switching between a Roth and traditional contribution and looking at the difference in tax amounts. I have found this is always far more ac...
by terran
Sun Sep 08, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Actually considering Roth 401k
Replies: 22
Views: 1894

Re: Actually considering Roth 401k

Several people seem to be thinking that $17.6% will be your marginal rate. I don't think so, but maybe you can clarify that. You probably say that because there's no 17.6% bracket, but given that the OP is discussing a solo 401(k) there actually is a 17.6% bracket for those in the 22% bracket for w...
by terran
Sun Sep 08, 2019 7:51 am
Forum: Personal Investments
Topic: After-tax 403(b) vs. taxable
Replies: 2
Views: 340

Re: After-tax 403(b) vs. taxable

Assuming in service withdrawals or in plan conversions aren't allowed (the plan isn't designed to allow mega backdoor Roth in other words) I would only make after tax contributions if I was expecting to leave that employer fairly soon. I'm less certain what fairly soon is. Certainly not more than 5 ...
by terran
Sun Sep 08, 2019 7:37 am
Forum: Personal Finance (Not Investing)
Topic: A small amount of unplanned Salary
Replies: 6
Views: 1121

Re: A small amount of unplanned Salary

Traditional or Roth IRA are good choices. Depending on your income, you may qualify for the federal Saver’s Tax Credit. If this turns out to be true, and you don't have earned income, then she should contribute at most $2000 to her IRA and you should contribute the rest to your IRA as a spousal con...
by terran
Thu Sep 05, 2019 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: HSA guidance
Replies: 9
Views: 832

Re: HSA guidance

No, Vanguard does not offer an HSA. I'm with Spirit Rider -- go with Fidelity. Here are recommended investments at Fidelity:https://www.bogleheads.org/wiki/Fidelity Fidelity does not charge and administrative fee, nor fees to invest as some providers do. They also don't have a minimum balance that m...
by terran
Wed Sep 04, 2019 12:33 pm
Forum: Personal Investments
Topic: i401k on side hustle and w2 403(b) will exceed 56k accumulative. Ok? Also, math help please
Replies: 24
Views: 1331

Re: i401k on side hustle and w2 403(b) will exceed 56k accumulative. Ok? Also, math help please

Notice how he was able to max his solo 401(k) at 55K even though he contributed 18k to his other 401(k). That is what I want to do, continue to contribute 19k to my W2 403(b), my W2 employer will continue to contribute 22,400 to my 401(a) and then on top of that I would like to contribute 56k to my...
by terran
Wed Sep 04, 2019 11:53 am
Forum: Personal Investments
Topic: i401k on side hustle and w2 403(b) will exceed 56k accumulative. Ok? Also, math help please
Replies: 24
Views: 1331

Re: i401k on side hustle and w2 403(b) will exceed 56k accumulative. Ok? Also, math help please

Notice how he was able to max his solo 401(k) at 55K even though he contributed 18k to his other 401(k). That is what I want to do, continue to contribute 19k to my W2 403(b), my W2 employer will continue to contribute 22,400 to my 401(a) and then on top of that I would like to contribute 56k to my...
by terran
Sat Aug 31, 2019 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: Do elective individual 401(k) contributions reduce business income deduction?
Replies: 3
Views: 381

Re: Do elective individual 401(k) contributions reduce business income deduction?

Yes, tax deferred elective contributions reduce the QBI deduction, Roth elective contributions do not. I'm in the process of moving my solo 401(k) from Fidelity to Etrade where I'll be making Roth contributions as the 20% reduction in marginal tax savings brings the value of tax deferral below my pe...
by terran
Sat Aug 31, 2019 6:21 pm
Forum: Personal Investments
Topic: Timing considerations of non-governmental 457b rollover
Replies: 25
Views: 1216

Re: Timing considerations of non-governmental 457b rollover

I did some googling and found https://benefitslink.com/boards/index.php?/topic/35138-transfers-between-nongovernmental-457b-plans/ which seems relevant. From there I search for "457-10(b)(5)" and found this link to the actual code referenced there: https://www.law.cornell.edu/cfr/text/26/1.457-10 Ba...