Search found 1344 matches

by terran
Mon Jul 13, 2020 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Using a HSA outside of the USA
Replies: 2
Views: 216

Re: Using a HSA outside of the USA

You can withdraw from an HSA at any time without submitting anything to the HSA provider. The only time you need to provide receipts is if you're audited by the IRS. What I would probably do is keep the Spanish receipts and keep a record of the amount you paid in USD and realize that you might need ...
by terran
Tue Jul 07, 2020 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: returning PPP loan
Replies: 45
Views: 2454

Re: returning PPP loan

Why not use up the PPP and then go on unemployment afterwards?
by terran
Sat Jul 04, 2020 8:48 am
Forum: Personal Investments
Topic: Các lỗi dễ mắc phải khi sử dụng máy rửa xe gia đình và cách khắc phục
Replies: 2
Views: 215

Re: Open BOTH an SEP IRA and a Solo Roth 401K?

You can't contribute to both a SEP IRA and a Solo 401(k). And you can only have a solo 401(k) at all if you either have no SEP IRA or a specific type of SEP IRA only offered by certain providers (Schwab I think). There's also really no point to having both since the employer contribution is for a so...
by terran
Thu Jun 25, 2020 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Amend Taxes Due To Contribution Deadline Extension
Replies: 3
Views: 192

Re: Amend Taxes Due To Contribution Deadline Extension

If you're going to contribute you should certainly amend as that's how you'll get the tax savings. Other than this, are you going to be able to max out all other tax advantaged accounts by their respective deadlines? If not I would probably just skip this contribution and direct those funds elsewher...
by terran
Wed Jun 24, 2020 1:30 pm
Forum: Personal Investments
Topic: Do any solo-401k providers allow website contributions?
Replies: 8
Views: 548

Re: Do any solo-401k providers allow website contributions?

Etrade also does. I moved from Fidelity to Etrade becuase it's the least restrictive option offered by the big players in that it allows Roth (unlike Fidelity) and rollovers from IRAs (unlike Vanguard). It also has a number of Vanguard funds that trade commission/fee free.
by terran
Thu Jun 18, 2020 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Closing a deal for a used car from individual private seller
Replies: 7
Views: 556

Re: Closing a deal for a used car from individual private seller

If this purchase is for a larger amount of cash than you feel comfortable walking around with then I would complete the transaction at your bank so you can withdraw the cash, get the signed title and give them the cash all at once. Once you give them a bank check you can't get it back so it would be...
by terran
Wed Jun 17, 2020 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Ways to save for retirement after 401k
Replies: 17
Views: 2096

Re: Ways to save for retirement after 401k

Also, if your spouse doesn't have a traditional IRA (or rolls it over into their own 401(k)) they can still make backdoor Roth contributions even if you can't. If either of you has any self employment income that opens options for additional space and ways of getting rid of the traditional IRA. Can...
by terran
Wed Jun 17, 2020 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 315
Views: 22400

Re: Optimizing PPP Forgiveness

Does anyone know if anything needs to be done to get the 24 week coverage (so the full amount can be forgiven as a sole proprietor without employees)? If you got the loan before the second law was passed, does the extension to 24 weeks happen automatically or do you have to do something with your le...
by terran
Wed Jun 17, 2020 10:36 am
Forum: Personal Investments
Topic: Switching brokerages for solo 401k
Replies: 23
Views: 885

Re: Switching brokerages for solo 401k

Yes, 0.77% is high. I see no reason not to move it. I can't speak to Vanguard, but you can invest in VTSAX and a number of other Vanguard funds without commissions or fees at Etrade. They also allow rollovers from IRA which Vanguard doesn't, so they're a little more flexible. I would (did) go with t...
by terran
Wed Jun 17, 2020 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 315
Views: 22400

Re: Optimizing PPP Forgiveness

Looks like forgiveness for sole proprietor owner employees has been raised to the full amount of the loan. See page 9 of https://content.sba.gov/sites/default/files/2020-06/PPP%20IFR%203%20and%206%20revisions%20%286.16.2020%29%20signed.pdf The Administrator, in consultation with the Secretary, has d...
by terran
Wed Jun 17, 2020 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Ways to save for retirement after 401k
Replies: 17
Views: 2096

Re: Ways to save for retirement after 401k

Also, if your spouse doesn't have a traditional IRA (or rolls it over into their own 401(k)) they can still make backdoor Roth contributions even if you can't. If either of you has any self employment income that opens options for additional space and ways of getting rid of the traditional IRA.
by terran
Mon Jun 15, 2020 4:36 pm
Forum: Personal Investments
Topic: Would opening a Roth IRA for a working, disabled adult with Down Syndrome have any negative repercussions?
Replies: 6
Views: 370

Re: Would opening a Roth IRA for a working, disabled adult with Down Syndrome have any negative repercussions?

People taking SSI can save only a small amount before they lose the SSI and perhaps have to pay back all they’ve received. This, but it sounds like maybe he is on SSDI under his parent's record? I'm not certain (so it would be worth seeking a definitive answer), but I think this wouldn't be means t...
by terran
Mon Jun 15, 2020 4:31 pm
Forum: Investing - Theory, News & General
Topic: Fidelity HSA - new exclusive "Health Savings" funds
Replies: 31
Views: 2490

Re: Fidelity HSA - new exclusive "Health Savings" funds

This page indicates that HSAs can invest in the "Institutional Premium" share class of the freedom index funds, at a lower 0.08% ER. If you want a target date fund, you might as well save a few bps. Has anyone tried it? https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/landing-zone...
by terran
Sun Jun 14, 2020 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance (ACA) for adult child 26+
Replies: 16
Views: 915

Re: Health insurance (ACA) for adult child 26+

Providing food or housing will reduce any SSI by 1/3rd. Since it sounds like he's under 26 you could look in to whether he qualifies for an ABLE account as that can pay for housing without reducing SSI (still need to pay for food from his own income), so you could contribute to that and then pay you...
by terran
Sun Jun 14, 2020 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance (ACA) for adult child 26+
Replies: 16
Views: 915

Re: Health insurance (ACA) for adult child 26+

So SSI seems not likely, given lack of work history on SS. Social Security Disability Income (SSDI) requires a work history, but Supplemental Security Income (SSI) does not. I would suggest speaking with a disability attorney to find out what your options are. It can be difficult to get on, but pro...
by terran
Sun Jun 14, 2020 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance (ACA) for adult child 26+
Replies: 16
Views: 915

Re: Health insurance (ACA) for adult child 26+

Did he work for some period of time? If so, you should also look into social security disability if you expect him to be disabled for some period of time or are not sure. SSDI includes Medicare coverage after two years. The two years is from the onset of the disability, not the application or award...
by terran
Sun Jun 14, 2020 8:52 am
Forum: Investing - Theory, News & General
Topic: Fidelity HSA - new exclusive "Health Savings" funds
Replies: 31
Views: 2490

Re: Fidelity HSA - new exclusive "Health Savings" funds

Anyone interested in using either new fund? Personally I'm sticking with a Freedom Index Fund at my desired AA (FFEDX/2025) I would not have thought that one could use the institutional FFEDX and one would have to use the FQIJX. Are Fidelity HSAs special in that regard? Yes, for some reason they ar...
by terran
Sun Jun 14, 2020 8:34 am
Forum: Investing - Theory, News & General
Topic: Is the bond tent effective at reducing SoRR?
Replies: 23
Views: 1400

Re: Is the bond tent effective at reducing SoRR?

Here's something to consider: https://earlyretirementnow.com/2017/09/ ... lidepaths/. It could be argued that if anything you have too much in bonds and that over time you should start gliding to higher equities to combat inflation.
by terran
Sun Jun 14, 2020 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Self Employed and IRA Contributions
Replies: 24
Views: 909

Re: Self Employed and IRA Contributions

Consider a Simple IRA, easy to set up, will give you higher amount you can contribute. This is incorrect. A solo 401(k) offers a larger contribution limit at any income level than either a Simple IRA or a SEP IRA. Only at around $200k or more self employment income will the limit of a SEP IRA appro...
by terran
Sun Jun 14, 2020 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Self Employed and IRA Contributions
Replies: 24
Views: 909

Re: Self Employed and IRA Contributions

Consider a Simple IRA, easy to set up, will give you higher amount you can contribute. This is incorrect. A solo 401(k) offers a larger contribution limit at any income level than either a Simple IRA or a SEP IRA. Only at around $200k or more self employment income will the limit of a SEP IRA appro...
by terran
Sun Jun 14, 2020 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Self Employed and IRA Contributions
Replies: 24
Views: 909

Re: Self Employed and IRA Contributions

With $32k of self employment income, $10k of solo 401(k) contributions, and $6k of IRA contributions you definitely have enough earned income to support that IRA contribution, so something must be entered wrong unless I've misunderstood your situation or you've left something out (like business expe...
by terran
Thu Jun 11, 2020 1:34 pm
Forum: Investing - Theory, News & General
Topic: Small business retirement (Guideline vs Employee Fiduciary)
Replies: 14
Views: 705

Re: Small business retirement (Guideline vs Employee Fiduciary)

I think the usage of certain words raised the flags with Guideline. You can amend the current Solo 401k plan by closing it with no contributions for 2020 and open one at Guideline for 2020 and start afresh. Do not rollover the current balance into your new account at guideline. It might not have be...
by terran
Thu Jun 11, 2020 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Savings Account Transfer Limitations
Replies: 10
Views: 1211

Re: Beware Marcus/Goldman Sachs Savings

I think this is pretty common actually. I had a similar experience with Ally, except both our names are on the Ally account, so the problem was that the login also needed to match. I couldn't transfer from Ally using my login to an account only in my wife's name, she had to use her login, despite he...
by terran
Wed Jun 10, 2020 12:58 pm
Forum: Personal Investments
Topic: Tax Deferral or current compounding?
Replies: 4
Views: 188

Re: Tax Deferral or current compounding?

Asset allocation and asset location are different things. Which is to say that you'll only kill the compounding if you don't invest the money you contribute to the tax advantaged accounts. Assuming any extra contributions you make to tax advantaged accounts will be invested in a similar asset alloca...
by terran
Tue Jun 09, 2020 9:00 pm
Forum: Personal Investments
Topic: Search help sought
Replies: 7
Views: 380

Re: Search help sought

I mean isn't it just (A + B) x (1+r)^y = A x (1+r)^y + B x (1+r)^y where r is the rate of return, y is the number of years and A and B are the amounts invested in either one (left side) or two (right side) accounts?
by terran
Tue Jun 09, 2020 10:45 am
Forum: Personal Investments
Topic: Switching Jobs - Already maxed 401k
Replies: 42
Views: 2668

Re: Switching Jobs - Already maxed 401k

Depending on the match, it may STILL BE worthwhile to contribute up to the match with the new employer. All that would happen is that this money would be double-taxed. One is not going to jail for over-contributing to a tax-advantaged account. I had a very similar issue when I switched jobs five ye...
by terran
Mon Jun 08, 2020 9:20 pm
Forum: Investing - Theory, News & General
Topic: Fidelity retirement plan for small business
Replies: 6
Views: 325

Re: Fidelity retirement plan for small business

For a small business with employees (meaning solo 401(k) isn't an option) I would take a look at https://www.employeefiduciary.com/ or there's another one that I think starts with a "G" (but I can't seem to think of the name) that seems promising. The big guys like Vanguard and Fidelity are unlikely...
by terran
Mon Jun 08, 2020 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4050

Re: Just Fired - Pension and HSA questions

Thanks for the quick replies. HR has confirmed I can roll over my pension to my 401k. I think I will stick with rolling it into the tax deferred portion as I will be in a higher tax bracket this year and maybe convert it to ROTH next year when I will be in a much lower bracket (probably no job :) )...
by terran
Mon Jun 08, 2020 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4050

Re: Just Fired - Pension and HSA questions

Thanks for the quick replies. HR has confirmed I can roll over my pension to my 401k. I think I will stick with rolling it into the tax deferred portion as I will be in a higher tax bracket this year and maybe convert it to ROTH next year when I will be in a much lower bracket (probably no job :) )...
by terran
Mon Jun 08, 2020 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4050

Re: Just Fired - Pension and HSA questions

Dottie57 wrote:
Mon Jun 08, 2020 2:08 pm
Thrifty Femme wrote:
Fri Jun 05, 2020 6:28 pm
Verify your plan will accept roll ins after you are a former employee. None of the six companies I've work for allowed roll ins after separation. Good luck!
What is roll ins?
A "roll"over from another plan "in"to the plan under discussion.
by terran
Mon Jun 08, 2020 2:06 pm
Forum: Personal Investments
Topic: Transfer 403(b) to i401(k) or IRA?
Replies: 3
Views: 150

Re: Transfer 403(b) to i401(k) or IRA?

I agree, based on my understanding you won't be able to move the 403(b) to a Vanguard Solo 401(k). Since she has contributed to the Roth solo 401(k) already her only options for both Roth and rollovers would be TD Ameritrade or Etrade, of which I would (did) pick Etrade. That said, I would only both...
by terran
Mon Jun 08, 2020 12:49 pm
Forum: Personal Investments
Topic: Portfolio Questions - Add 457(b)?
Replies: 25
Views: 633

Re: Portfolio Questions - Add 457(b)?

You came to basically the right conclusion, but for the wrong reason. non-governmental 457(b) plans are, as you say, subject to the creditors of the institution, but governmental 457(b) plans are not, period end of story. It's not that the risk of default is low, it's that it doesn't matter (just l...
by terran
Mon Jun 08, 2020 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Are some house sales, tax free?
Replies: 4
Views: 548

Re: Are some house sales, tax free?

There will probably be sales/transfer taxes, but yes, as long as you've lived in the home as your primary residence for at least 2 of the last 5 years you can exclude $250k single / $500k married from the gains on the sale of the home from federal income tax: https://www.irs.gov/taxtopics/tc701 Lots...
by terran
Sun Jun 07, 2020 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Capital One Quicksilver: 1.5% reward, thoughts?
Replies: 98
Views: 276435

Re: Capital One Quicksilver: 1.5% reward, thoughts?

Beware: I Have had an existing Quicksilver Visa for years. Applied for the same card to use jointly with DP and they sent a Quicksilver MasterCard World Elite. We specifically applied for the same Visa card I had because we do a lot of shopping at Costco, so the MC was not going to work. Upon calli...
by terran
Sat Jun 06, 2020 5:20 pm
Forum: Personal Investments
Topic: Tradition IRA to Roth Conversion and allocation
Replies: 4
Views: 241

Re: Tradition IRA to Roth Conversion and allocation

Your plan of converting to Roth and investing in a target date fund appropriate for your children's retirement timeline seems reasonable. The only exceptions I can think of off hand is if your children will most likely be in a lower tax bracket (in which case you might not want to convert) or you mi...
by terran
Sat Jun 06, 2020 4:51 pm
Forum: Personal Investments
Topic: Will exceed Roth income limit - what's the best option?
Replies: 12
Views: 688

Re: Will exceed Roth income limit - what's the best option?

If you can get your previously deducted IRA balance in to your 401(k) then you should recharacterize your Roth into traditional (opening traditional for the purpose if necessary) to then convert to Roth and fill out Form 8606 with your 2020 taxes. I would probably get the rollover to 401(k) sorted ...
by terran
Sat Jun 06, 2020 1:41 pm
Forum: Personal Investments
Topic: Will exceed Roth income limit - what's the best option?
Replies: 12
Views: 688

Re: Will exceed Roth income limit - what's the best option?

If you can get your previously deducted IRA balance in to your 401(k) then you should recharacterize your Roth into traditional (opening traditional for the purpose if necessary) to then convert to Roth and fill out Form 8606 with your 2020 taxes. I would probably get the rollover to 401(k) sorted ...
by terran
Sat Jun 06, 2020 11:21 am
Forum: Personal Investments
Topic: Will exceed Roth income limit - what's the best option?
Replies: 12
Views: 688

Re: Will exceed Roth income limit - what's the best option?

If you can get your previously deducted IRA balance in to your 401(k) then you should recharacterize your Roth into traditional (opening traditional for the purpose if necessary) to then convert to Roth and fill out Form 8606 with your 2020 taxes. I would probably get the rollover to 401(k) sorted o...
by terran
Fri Jun 05, 2020 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4050

Re: Just Fired - Pension and HSA questions

This happened with my wife's great Fidelity 401k where she had left a decade earlier. January 2nd came around and we checked the page. There was a nice, shiny, new 0.5% administration fee that the employer decided to let us take care of. It was rolled to an IRA in less than a week. Where did you se...
by terran
Fri Jun 05, 2020 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4050

Re: Just Fired - Pension and HSA questions

VIP wrote:
Fri Jun 05, 2020 2:01 pm
Just to confirm, contributing to my HSA while on COBRA with after-tax dollars, still gives me a tax break at the end of the year?
Yes, you'll fill out Form 8889 to indicate the amount you contribute directly.
by terran
Fri Jun 05, 2020 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: PPP extension? [52/8 rule for Schedule C filers]
Replies: 12
Views: 696

Re: PPP extension? [52/8 rule for Schedule C filers]

Someone correct me if I'm wrong, but my understanding is not that they're extending the forgivable period to 24 weeks of pay, but rather that you can pick what 8 weeks within 24 weeks you want to count. Basically adding flexibility since many businesses were having trouble getting employees back to...
by terran
Fri Jun 05, 2020 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Just Fired - Pension and HSA questions
Replies: 33
Views: 4050

Re: Just Fired - Pension and HSA questions

I can't say definitively as I've never had a pension, but I suspect you can roll it over to traditional 401(k)/IRA without paying taxes, or to a Roth 401(k)/IRA but you'll pay tax on the additional income. It could be a good idea to roll over to Roth if you expect this years income to be lower than ...
by terran
Fri Jun 05, 2020 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: PPP extension? [52/8 rule for Schedule C filers]
Replies: 12
Views: 696

Re: PPP extension? [52/8 rule for Schedule C filers]

Someone correct me if I'm wrong, but my understanding is not that they're extending the forgivable period to 24 weeks of pay, but rather that you can pick what 8 weeks within 24 weeks you want to count. Basically adding flexibility since many businesses were having trouble getting employees back to ...
by terran
Fri Jun 05, 2020 8:37 am
Forum: Personal Investments
Topic: Portfolio Questions - Add 457(b)?
Replies: 25
Views: 633

Re: Portfolio Questions - Add 457(b)?

Is your employer a state government entity? 457b contributions are essentially a loan of your salary to the employer. If the employer declares bankruptcy your loans to the employer also go toast. For this reason you should contribute to 457b plans only if it is a state government entity, since it i...
by terran
Fri Jun 05, 2020 8:10 am
Forum: Personal Investments
Topic: Started investing with lump sum at ATH / windfall coming in 2 weeks, lump sum again?
Replies: 32
Views: 2299

Re: Started investing with lump sum at ATH / windfall coming in 2 weeks, lump sum again?

So I finally got the 18k today. It's not cash (rather complicated to explain), but I could invest it on July 1st for free or pay 80 bucks to be able to invest it the next day. Damn, don't know what to do :oops: Is there ANY risk that you don't get all the money on July 1st? That is, can it be resci...
by terran
Thu Jun 04, 2020 10:10 pm
Forum: Personal Investments
Topic: Megabackdoor Roth entire paycheck (almost)?
Replies: 37
Views: 1882

Re: Megabackdoor Roth entire paycheck (almost)?

I would definitely put money in mega backdoor Roth even if that means spending down taxable to cover cash flow needs. That's what we're doing.
by terran
Thu Jun 04, 2020 9:34 am
Forum: Personal Finance (Not Investing)
Topic: 457b Plan for Government Employees
Replies: 4
Views: 400

Re: 457b Plan for Government Employees

Roth 457(b) is kind of a funny animal in that it doesn't have an early withdrawal penalty (one of the big advantages of a 457(b)), and contributions can with withdrawn without tax, but gains are taxed if withdrawn before age 59.5 and unlike a Roth IRA (I think) distributions are taken in proportion ...
by terran
Thu Jun 04, 2020 9:08 am
Forum: Investing - Theory, News & General
Topic: solo 401k / new employee payroll - options
Replies: 5
Views: 251

Re: solo 401k / new employee payroll - options

Jimmy, I think you've misunderstood the question. The OP is the employer, but will soon be hiring employees that were previously contracted in some fashion through an outside company. eltron, no you can't start some kind of shell company to continue to act as a single employee company. Multiple comp...
by terran
Thu Jun 04, 2020 8:33 am
Forum: Personal Consumer Issues
Topic: Who to hire to monitor builder (GC)
Replies: 13
Views: 944

Re: Who to hire to monitor builder (GC)

Architects will offer this service for a fee (10% of the project sounds familiar, but I'm not sure), but maybe only if they designed it. I suppose you could see if a home inspector would do it. The government inspector will make sure things are up to code, but not more than that. Honestly though, it...