Search found 1943 matches

by krow36
Wed Dec 12, 2018 4:38 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

OP, your link doesn't seem to work. That's great that your district is looking to add the VA state 457 plan. Is there a Third Party Administrator fee that applies to the 457? And are you sure it applies to all vendors on the 403b list? https://www.icmarc.org/prebuilt/apps/downloadDoc.asp VA 457 fees...
by krow36
Wed Dec 12, 2018 12:04 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

Can you confirm that the TPA adds a 1.5% fee to all vendors on the district’s 403b list? Would that also be the case with any 457 vendor, including the VA state 457? Have you read the NY Times articles on teachers’ 403b plans? Your situation is unfortunately not unique. :( https://www.nytimes.com/20...
by krow36
Tue Dec 11, 2018 10:16 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

As has been suggested, if you listed all your possible 403b vendors, there might be a provider worth considering. Some insurance companies offer custodial accounts using mutual funds, in addition to their annuity offerings. In addition it might be possible to justify using a fixed annuity which prov...
by krow36
Tue Dec 11, 2018 9:33 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

Have you asked about the VA state 457 plan with your school district? Would the TPA's 1.5% admin fee apply to a 457 plan as well as to the 403b plans?
by krow36
Tue Dec 11, 2018 2:03 am
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

Is that 1.5% fee from the district’s Third Party Administrator? It is outrageously high for a TPA, and your district must have lower-cost alternatives for a TPA. I wonder if a broker/dealer is acting as a TPA? In my opinion your school district and its employees are being taken advantage of and the ...
by krow36
Mon Dec 10, 2018 5:52 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

Is Security Benefit, a life insurance company, on the vendor list? It offers a very low-cost 403b with NEA, the national teachers union. It's called NEA Direct Invest. All other Security Benefit 403b plans should be avoided due to their high cost.
by krow36
Mon Dec 10, 2018 4:59 pm
Forum: Investing - Help with Personal Investments
Topic: High Expense 403B
Replies: 24
Views: 918

Re: High Expense 403B

Is your school a charter school with only one provider of a 403b plan? Because charter schools can be required to set up an ERISA based 403b, the plan can be much more expensive than those of K-12 public school multivendor 403b options. If your school is NOT a charter school but a public K-12 school...
by krow36
Sun Dec 09, 2018 10:41 pm
Forum: Investing - Help with Personal Investments
Topic: Roth conversion taxes- how to pay them?
Replies: 13
Views: 1307

Re: Roth conversion taxes- how to pay them?

This posting by KAWill, seems to put this question to rest... I am older than 59 1/2, and I opened a Roth more than 5 years ago. Or am I mis-interpreting this? Here is the table version of the Roth Conversion chart that many here reference: Re: Roth IRA Rules - Table Approach Posted by: KAWill (IP ...
by krow36
Sun Dec 09, 2018 4:41 pm
Forum: Investing - Help with Personal Investments
Topic: Roth conversion taxes- how to pay them?
Replies: 13
Views: 1307

Re: Roth conversion taxes- how to pay them?

Have you read about the 5 year clock on distributions of Roth conversions?
https://www.bogleheads.org/wiki/Roth_IRA
There's more details in this article: https://www.kitces.com/blog/understandi ... nversions/
by krow36
Fri Dec 07, 2018 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: Any downside to moving 457b account to Vanguard ?
Replies: 10
Views: 875

Re: Any downside to moving 457b account to Vanguard ?

Retire2022, How does the NY. exemption of state taxes up to 20K work? My retired NY friend doubled check with his accountant and it applies to all retirement accounts Traditional IRAs and 457b plans. As for anything else, I'm not sure what the mechanics will be. Certainly by next year tax filing, I...
by krow36
Fri Dec 07, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Investing - Help with Personal Investments, Portfolio Design, and Diversification
Replies: 5
Views: 518

Re: Investing - Help with Personal Investments, Portfolio Design, and Diversification

Although international stocks are currently down, there are years where they do better than US stocks. https://www.callan.com/wp-content/uploads/2018/01/Callan-PeriodicTbl_KeyInd_2018.pdf No one knows when those years will occur again. Whether you want to forego this diversification opportunity or n...
by krow36
Fri Dec 07, 2018 2:03 am
Forum: Investing - Help with Personal Investments
Topic: Any downside to moving 457b account to Vanguard ?
Replies: 10
Views: 875

Re: Any downside to moving 457b account to Vanguard ?

You might consider keeping only a part of the expensive 457 account with Prudential and rolling the rest into an IRA at Vanguard. You can calculate how much you'll save each year by multiplying the average ER times the balance. For example 300k with an ER of 1% has an annual cost of $3000. If you mo...
by krow36
Fri Dec 07, 2018 1:24 am
Forum: Investing - Help with Personal Investments
Topic: What to do if expected income MIGHT phase out for Roth IRA
Replies: 7
Views: 806

Re: What to do if expected income MIGHT phase out for Roth IRA

You can recharacterize a contribution which is what was suggested. You cannot recharacterize a conversion.
https://www.irs.gov/retirement-plans/ir ... tributions
by krow36
Wed Dec 05, 2018 8:40 pm
Forum: Investing - Help with Personal Investments
Topic: 403b vs 457 vs IRA for rollover
Replies: 4
Views: 389

Re: 403b vs 457 vs IRA for rollover

Maybe you don't expect your income to require you to use the Backdoor Roth in the near future or never? And neither your 403b and 457 are low-cost? In that case, rolling the 401k to a very low-cost traditional IRA makes sense. If your fortunes change in the future and you need to use the Backdoor Ro...
by krow36
Wed Dec 05, 2018 6:20 pm
Forum: Investing - Help with Personal Investments
Topic: Simple IRA American Funds
Replies: 21
Views: 1515

Re: Simple IRA American Funds

Did you check out the American Funds SIMPLE IRA Transfer Election form I mentioned in March? https://www.americanfunds.com/advisor/pdf/shareholder/ogi/irsmbr-003_simpee_ogi.pdf AF is the only SIMPLE IRA Financial Institution that provides complete, easily accessible information on the transfer to a...
by krow36
Tue Dec 04, 2018 2:43 pm
Forum: Investing - Help with Personal Investments
Topic: Investing - Help with Personal Investments, Portfolio Design, and Diversification
Replies: 5
Views: 518

Re: Investing - Help with Personal Investments, Portfolio Design, and Diversification

Wiki article on the 3 fund portfolio: https://www.bogleheads.org/wiki/Three-fund_portfolio Forum thread on the three fund portfolio: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=88005 Check out the Wiki article on dollar cost averaging versus lump sum: https://www.bogleheads.org/wiki/Dollar...
by krow36
Tue Dec 04, 2018 2:23 pm
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative
Replies: 14
Views: 1078

Re: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative

I am sensing that this is going to be a fight for me to get Vanguard as my institution because no one seems to know what they are doing. Also, now that I am a 5304, I'm thinking that I may be able to go with Fidelity instead of Vanguard, so I'll be doing research on where I actually want this set-u...
by krow36
Mon Dec 03, 2018 1:43 am
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative
Replies: 14
Views: 1078

Re: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative

Congratulations on finally getting some paperwork! It certainly seems dishonest to me that they are not providing you with all 3 pages of the Form 5304. Pre-filling in the FI on page 3 is outrageous! As Spirit Rider mentioned, calling Fidelity and finding out how to go about the paperwork is next. I...
by krow36
Sun Dec 02, 2018 6:48 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5757

Re: Saving for Retirement when one has a Pension

What funds are offered in your 403b plan? Please give fund names, tickers and expense ratios. Is there an employer match offered in your 403b plan, and are you already contributing enough to get the full employer match? This link to 403bcompare gives the funds and fees that Fidelity’s 403b plan off...
by krow36
Sun Dec 02, 2018 1:50 am
Forum: Investing - Help with Personal Investments
Topic: What fees are reasonable/competitive for a 403(b)?
Replies: 18
Views: 998

Re: What fees are reasonable/competitive for a 403(b)?

OK, a charter school is probably using a single provider 403b plan that is ERISA compliant. That will increase the costs of the plan although the school may pick up some of the cost. Or not. It could even have an employer match! That would help make up for higher fees. MA has an excellent low-cost ...
by krow36
Sat Dec 01, 2018 10:59 pm
Forum: Investing - Help with Personal Investments
Topic: What fees are reasonable/competitive for a 403(b)?
Replies: 18
Views: 998

Re: What fees are reasonable/competitive for a 403(b)?

OK, a charter schools is probably using a single provider 403b plan that is ERISA compliant. That will increase the costs of the plan although the school may pick up some of the cost. Or not. It could even have an employer match! That would help make up for higher fees. MA has an excellent low-cost ...
by krow36
Sat Dec 01, 2018 10:43 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5757

Re: Saving for Retirement when one has a Pension

I am using Fid FREEDOM 2050 fun in my Fidelity 403(B) account. I think I can open other funds in Fidelity to spread the investments. It's great that you are using probably the lowest cost vendor, Fidelity, for your 403b! :D You have the option of using the Fidelity Freedom Index 2050 fund which has...
by krow36
Sat Dec 01, 2018 9:30 pm
Forum: Investing - Help with Personal Investments
Topic: What fees are reasonable/competitive for a 403(b)?
Replies: 18
Views: 998

Re: What fees are reasonable/competitive for a 403(b)?

Unfortunately I don't think the Lincoln Investment Participant Directed Platform will be available to you. It is only available to K-12 school districts in NJ and to a few districts in NY and IL. I suspect you work for a non-profit that is not a K-12 school district.
by krow36
Sat Dec 01, 2018 9:16 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5757

Re: Saving for Retirement when one has a Pension

Are there specific guidelines, whether general agreed upon rules of thumb or Boglehead wisdom, for retirement savings advice for those with pensions? I'll be able to retire in about 20 years with 55-60% of my salary through my pension. What are some good perspectives/guidelines to save additionally...
by krow36
Sat Dec 01, 2018 8:24 pm
Forum: Investing - Help with Personal Investments
Topic: What fees are reasonable/competitive for a 403(b)?
Replies: 18
Views: 998

Re: What fees are reasonable/competitive for a 403(b)?

a rule of thumb is that it is better to invest in a retirement account than taxable if the fees are lower than 1.7% Interesting. What are the assumptions and logic for the 1.7%? Is this for tax deferred only or also tax free? The Wiki discusses this in the topic "401k". The rule is for deciding on ...
by krow36
Sat Dec 01, 2018 1:17 pm
Forum: Investing - Help with Personal Investments
Topic: What fees are reasonable/competitive for a 403(b)?
Replies: 18
Views: 998

Re: What fees are reasonable/competitive for a 403(b)?

Lincoln Investments offers several non-ERISA 403b plans to K-14 school districts. The plans are described in the 403bcompare website. One plan is their Retirement Solutions Premier which offers Vanguard Investor class funds and has a 1.25% mgt/wrap fee and a $60/yr admin fee. These generic non-ERISA...
by krow36
Fri Nov 30, 2018 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Limitation on 403b from work and defined-benefit plan for self-employment?
Replies: 3
Views: 257

Re: Limitation on 403b from work and defined-benefit plan for self-employment?

I've never heard of a defined benefit plan for self-employment earnings. Seems like you might be stuck with just the 403b and the solo 401k and a Roth IRA? After that, a taxable account? Hopefully Spirit Rider will offer his thoughts.
by krow36
Fri Nov 30, 2018 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Roll over Americaone 403b to Vanguard or not?
Replies: 3
Views: 130

Re: Roll over Americaone 403b to Vanguard or not?

403b plans are almost always more expensive than Vanguard's IRAs (even Vanguard’s 403b). In this case, OneAmerica's 403b $100/yr admin fee, compared to Vanguard's $0/yr IRA fee. Using VAS makes the ERs about equal but I agree with Silk McCue that after using VAS for a year or so, you could probably ...
by krow36
Fri Nov 30, 2018 1:05 pm
Forum: Investing - Help with Personal Investments
Topic: Simple IRA Investment
Replies: 4
Views: 375

Re: Simple IRA Investment

Unlike a 401k where there is a restricted list of funds available, a Fidelity SIMPLE IRA account is allowed to use any retail mutual fund. If a 3 fund portfolio is preferred to a target retirement fund, just use the usual 3 index funds.
by krow36
Fri Nov 30, 2018 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: Simple IRA American Funds
Replies: 21
Views: 1515

Re: Simple IRA American Funds

Did you check out the American Funds SIMPLE IRA Transfer Election form I mentioned in March? https://www.americanfunds.com/advisor/pdf/shareholder/ogi/irsmbr-003_simpee_ogi.pdf AF is the only SIMPLE IRA Financial Institution that provides complete, easily accessible information on the transfer to an...
by krow36
Fri Nov 30, 2018 12:38 am
Forum: Investing - Help with Personal Investments
Topic: 403b vs 457 vs IRA for rollover
Replies: 4
Views: 389

Re: 403b vs 457 vs IRA for rollover

I have a $100k+ 401k with a former employer that I am now being required to rollover due to a merger happening with that firm. If investment options and costs are not considered, what are the pros and cons of rolling these funds into my employer sponsored 403b vs. my employer sponsored 457 vs. a tr...
by krow36
Fri Nov 30, 2018 12:24 am
Forum: Investing - Help with Personal Investments
Topic: Additions to S&P-500 to emulate total US market index
Replies: 8
Views: 747

Re: Additions to S&P-500 to emulate total US market index

The 500 Index fund’s returns have been very close to those of Total Stock Market. Check out the Wiki on “Approximating the Total Stock Market”. https://www.bogleheads.org/wiki/Approximating_total_stock_market I think it’s ideal to have some small caps as some years they outperform large caps. Divers...
by krow36
Fri Nov 30, 2018 12:08 am
Forum: Investing - Help with Personal Investments
Topic: Simple IRA Investment
Replies: 4
Views: 375

Re: Simple IRA Investment

I suggest a Fidelity target date fund. It includes both US and Int’l stocks, and bonds. Fidelity Freedom Index 2030 Fund is 75% equities, 25% bonds. I prefer to choose these target retirement funds by asset allocation rather than by retirement date. If she want more or less equities, she can choose ...
by krow36
Thu Nov 29, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k and a household employee?
Replies: 6
Views: 579

Re: Solo 401k and a household employee?

Here’s what the IRS says about having more than 1 EIN. Can I Have More Than One EIN? The short answer to this question is, yes. It is possible, and may be necessary, to have multiple EINs in the case you (the business owner) own multiple partnerships and need more than one partnership tax ID, corpor...
by krow36
Thu Nov 29, 2018 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative
Replies: 14
Views: 1078

Re: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative

It’s hard to believe that the “local Financial Advisor does many SIMPLE IRA and 401k plans for businesses in the area” and has worked with 1000’s of SIMPLE accounts. He certainly seems incompetent, if not deliberately misleading. Maybe both? If you google “Oppenheimer SIMPLE IRA plan” you’ll find th...
by krow36
Tue Nov 27, 2018 6:58 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard email : Conversions to Roth IRAs can no longer be reversed
Replies: 10
Views: 984

Re: Vanguard email : Conversions to Roth IRAs can no longer be reversed

Recharacterizations have not been eliminated. It is still allowed to recharacterize a tIRA contribution to a Roth IRA contribution, or visa versa (as the Vanguard notice said). I believe this can only be done up until March of the year after the contribution year. (March 2019 for contributions for 2...
by krow36
Tue Nov 27, 2018 6:34 pm
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative
Replies: 14
Views: 1078

Re: SIMPLE IRA (5305) - Vanguard/Fidelity/Schwab for "frozen" SIMPLE IRA alternative

That's great the Vanguard is allowing the use of Admiral funds with no minimums, in their SIMPLE IRA accounts! :) Thanks for the update. Did they finally hand out the Form 5305 or equivalent information? Please let us know how Oppenheimer responds to the account transfer process. I expect you will w...
by krow36
Tue Nov 27, 2018 6:15 pm
Forum: Investing - Help with Personal Investments
Topic: Teacher Pension Problem
Replies: 23
Views: 2956

Re: Teacher Pension Problem

I did decide to just do a 403b w/ employer contributions into an investment account (through VALIC) rather than the pension in SC since I knew I'd be moving again before coming vested. 2) After I leave SC I can roll my 2 yrs of investments (should be ~$12k when it's all said and done) into my IRA w...
by krow36
Sun Nov 25, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion for Spousal IRA
Replies: 12
Views: 696

Re: Roth Conversion for Spousal IRA

You should fill out a Form 8606 for the year you first made a non-deductible contribution, and for each subsequent year. You can download each year's form. These forms will track your basis which is your post-tax contributions. Read the Form 8606 directions carefully. You can send the forms for year...
by krow36
Sat Nov 24, 2018 1:05 am
Forum: Investing - Help with Personal Investments
Topic: Understanding my Roth and IRA Contributions
Replies: 8
Views: 789

Re: Understanding my Roth and IRA Contributions

Currently my vanguard account looks like this. Traditional IRA: 9K Rollover Brokerage: 110K Roth IRA: 150k Others (after tax savings): 250K What are the tax implications? Am I correct in assuming that, I don't have to pay taxes when I withdraw from the Roth IRA. You can withdraw your contributions ...
by krow36
Sat Nov 24, 2018 12:47 am
Forum: Investing - Help with Personal Investments
Topic: Mutual Fund Generated Income
Replies: 5
Views: 588

Re: Mutual Fund Generated Income

Here's 15 years worth: https://investor.vanguard.com/mutual-funds/profile/performance/vtsax/cumulative-returns Thanks you! Would a shareholder be taxed on the columns Capital return and Income return in any given year? The Income return is distributed to you as dividends. You can have them reinvest...
by krow36
Fri Nov 23, 2018 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: Leave money in Calstrs system, or lump sum rollover?
Replies: 5
Views: 597

Re: Leave money in Calstrs system, or lump sum rollover?

For a pension contribution of less than 10k, where there's no chance she will return to CA teaching, I don't see any problem with rolling it into an individual 401k. You could roll it into her Roth IRA if you are will willing to pay income tax on the increased income. Have you talked to CalSTRS abou...
by krow36
Mon Nov 19, 2018 5:14 pm
Forum: Investing - Help with Personal Investments
Topic: Launched a SIMPLE IRA for my biz, can we make contributions for all of 2018?
Replies: 3
Views: 322

Re: Launched a SIMPLE IRA for my biz, can we make contributions for all of 2018?

It doesn’t look like it’s possible to make the effective date Jan 1 on Form 5305 if the plan was adopted in Sep. Deadline for setting up a SIMPLE IRA plan. You can set up a SIMPLE IRA plan effective on any date from January 1 through October 1 of a year, provided you didn't previously maintain a SIM...
by krow36
Mon Nov 19, 2018 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable account - American Funds Class C question
Replies: 2
Views: 210

Re: Taxable account - American Funds Class C question

3. Taxable investment account with American Funds - I was going to roll this over to Vanguard, but learned (obvious now but I'm new at this) that of course I cannot since Vanguard doesn't sell American Funds. Anyway the expense ratio is 1.49! Insane! So, I am going to sell it, pay the capital gains...
by krow36
Sun Nov 18, 2018 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Projecting 2018 Taxes
Replies: 8
Views: 1290

Re: Projecting 2018 Taxes

Also, I sold all of my Vanguard Intermediate Term Tax Exempt Bond Fund in my taxable account in early November and moved the funds to the Federal MM Fund. According to the cost basis data on the website for this Bond Fund just prior to selling it, it quantified the market value, total cost, short t...
by krow36
Fri Nov 16, 2018 6:26 pm
Forum: Investing - Help with Personal Investments
Topic: 37 year old requests assistance with questions at end.
Replies: 8
Views: 1363

Re: 37 year old requests assistance with questions at end.

Is there a reason that she is not contributing to a 403b or 457 employer's plan? If there is a low-cost 457 plan available, it could be useful due to the special distribution rules (no penalty fee when separated from service, regardless of age). You will save on taxes if she contributes to a tax-def...
by krow36
Fri Nov 16, 2018 2:31 am
Forum: Investing - Help with Personal Investments
Topic: IRA Contribution Deadline April 15- Questions..
Replies: 6
Views: 396

Re: IRA Contribution Deadline April 15- Questions..

Are you sure you need to use the backdoor? Does your MAGI allow you to contribute directly to a Roth IRA rather than indirectly using the backdoor? https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits The IRA contribution limit for 2018 is $5500 a...
by krow36
Fri Nov 16, 2018 2:20 am
Forum: Investing - Help with Personal Investments
Topic: NY 457/Settlement Advice
Replies: 13
Views: 1418

Re: NY 457/Settlement Advice

all check this out Pension check can be rolled into 457 b plan https://www.bogleheads.org/forum/viewtopic.php?t=237321 I think that when a non-457 account is rolled into a 457 plan, the non-457 account does not become a 457, but is kept in a "separate account". It can invest in the funds of the 457...