Search found 136 matches

by dskillz1
Fri Oct 06, 2017 3:16 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA
Replies: 7
Views: 502

Re: Rollover IRA

I have all the options an IRA provide, I can basically invest in anything. Im just trying to figure out if leaving over 100K in a rollover IRA invested in the VFORX fund without ever touching it for 20 years is advisable? Are there any tax issues to consider?
by dskillz1
Fri Oct 06, 2017 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA
Replies: 7
Views: 502

Re: Rollover IRA

Retirement being about 20 years from now..
by dskillz1
Fri Oct 06, 2017 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA
Replies: 7
Views: 502

Rollover IRA

Is it advisable to keep investments in a Rollover IRA? I would only be able to do non-deductible contributions as my income is past the limit. I currently have over 100K invested (with Vanguards VFORX target date fund 2040) in said Rollover IRA and planned to just keep it there until retirement with...
by dskillz1
Fri Sep 15, 2017 3:46 pm
Forum: Investing - Help with Personal Investments
Topic: NY 529 Plan
Replies: 8
Views: 781

Re: NY 529 Plan

Great so if your education expenses are fully qualified this plan basically is completely tax free considering its funded with after tax monies to begin with correct?
by dskillz1
Fri Sep 15, 2017 3:28 pm
Forum: Investing - Help with Personal Investments
Topic: NY 529 Plan
Replies: 8
Views: 781

NY 529 Plan

With the Direct Plan, you benefit from tax-deferred earnings as well as tax-free withdrawals for qualified higher-education expenses.* And since you're paying less in taxes, you can save more, which lowers the total cost of college. If you're a New York State taxpayer, you can also deduct contribut...
by dskillz1
Fri Sep 15, 2017 2:15 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRA / Non Deductable IRA

Understood. Ill just file the 8606 when I withdraw funds which wont be for another 20 years anyway so I got time. Thanks again everyone!
by dskillz1
Fri Sep 15, 2017 7:32 am
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRA / Non Deductable IRA

So bottom line is that i did the recharachterization of the over contributed roth ira funds into my rollover tIRA correctly to avoid any penalties from the IRS correct? My only issue now is that if i leave things the way they are i will need to file an 8606 every year i withdraw money from my tIRA i...
by dskillz1
Thu Sep 14, 2017 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRA / Non Deductable IRA

So your saying I would be able to take the recharacterization funds in my tIRA now and move them to my 401K eliminating the 8606 for the end of time?
by dskillz1
Thu Sep 14, 2017 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Money Market vs Capital One 360 Money Market
Replies: 4
Views: 479

Re: Vanguard Money Market vs Capital One 360 Money Market

Good input guys. Anyone know if you can setup automatic transfers from checking account to Money Market account with Cap 1 360?
by dskillz1
Thu Sep 14, 2017 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Money Market vs Capital One 360 Money Market
Replies: 4
Views: 479

Vanguard Money Market vs Capital One 360 Money Market

Did some research and capital one 360, my current online bank is offering 1.20% interest on their Money Market fund. My current savings account that I have my emergency fund in with cap 1 360 is offering 0.75% so I think its a no brainer to open up a MM with them and transfer my Emergency fund into ...
by dskillz1
Thu Sep 14, 2017 12:15 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRA / Non Deductable IRA

Ok good deal. I only need to file once more in 20+ years when I take money out. So in 20+ years when its time to take money out of my tIRA I simply file that form again and the recharacterization I put into it in 2017 will not get taxed, that simple?
by dskillz1
Thu Sep 14, 2017 11:12 am
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRA / Non Deductable IRA

OK so assuming I simply keep things the way they are with the recharacterization into my tIRA, what needs to be done in the future regarding the 8606 form? Assuming I never ever contribute anything to this tIRA do I need to fill out the 8606 form every year for the little amount that I contributed t...
by dskillz1
Wed Sep 13, 2017 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRA / Non Deductable IRA

In 2016, you contributed $____ how many dollars to Roth IRA? Not Sure exact Amount but under $5500 Then at tax time, you found out you were not eligible to contribute the full amount you contributed because you were in the "phase out" where you could contribute some but not the full $5,500 ($6,500 ...
by dskillz1
Wed Sep 13, 2017 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRS / Non Deductable IRA

Sorry guys yes we are talking about 2016. I was confused because the actual recharacterization occurred in 2017.
by dskillz1
Wed Sep 13, 2017 2:06 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRS / Non Deductable IRA

There are two possible problems that we might be discussing here and we can't tell which one you have. If your income was too high that it didn't allow the contributions to a Roth, your income is also too high to make a tax-deductible contribution to a traditional IRA. In this case, moving the cont...
by dskillz1
Wed Sep 13, 2017 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRS / Non Deductable IRA

No, that is incorrect. You are only allowed to contribute a certain amount to IRA. It can go into traditional IRA or Roth IRA or a combination of the two. If you contributed too much to Roth IRA (but were otherwise eligible), then you can't put the "extra" in tIRA. It has to come all the way out of...
by dskillz1
Wed Sep 13, 2017 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRS / Non Deductable IRA

The IRA I have in Vanguard is called "Rollover IRA Brokerage"
by dskillz1
Wed Sep 13, 2017 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Re: Rollover IRS / Non Deductable IRA

What is "this year"? Do you mean you made a direct contribution to Roth IRA in 2017? - Correct Or do you mean you are eligible to contribute to Roth IRA but you put too much in there? - Correct When you say "they handled everything", what did they do? Did they "re-characterize" your Roth IRA contri...
by dskillz1
Wed Sep 13, 2017 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA / Non Deductable IRA
Replies: 31
Views: 1257

Rollover IRA / Non Deductable IRA

About 2 years ago I rolled over some 401K funds I had to my Traditional IRA with Vanguard. I did this to simply avoid the bad investments that the 401K was offering. When I did this my income was too high to contribute to this new IRA so does that automatically classify this IRA as a non deductible ...
by dskillz1
Fri Apr 28, 2017 11:03 pm
Forum: Investing - Help with Personal Investments
Topic: Target Date Fund - Forced to change by Transamerica
Replies: 5
Views: 782

Re: Target Date Fund - Forced to change by Transamerica

Ok so not much difference. Thanks for the info guys
by dskillz1
Thu Apr 27, 2017 11:49 am
Forum: Investing - Help with Personal Investments
Topic: Target Date Fund - Forced to change by Transamerica
Replies: 5
Views: 782

Target Date Fund - Forced to change by Transamerica

I have been invested in my 401K's Vanguard Target Date Fund 2040 (VFORX .93 ER) for a while now. Just got out of a 401K meeting to find that all the Vanguard Target Date Funds they had are now being replaced by BlackRock LifePath Index Target Date Funds. If I let it be they will simply move me into ...
by dskillz1
Fri Mar 31, 2017 4:01 pm
Forum: Investing - Help with Personal Investments
Topic: Form 8606
Replies: 3
Views: 458

Form 8606

I am aware of needing to file an 8606 form when contributing after tax dollars to a traditional IRA but im curious how the form helps in the future (say retirement in 20 years) when im withdrawing money and don't want to get double taxed. How do I ensure that I do not get double taxed on those monie...
by dskillz1
Sat Mar 04, 2017 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: In-service roll over
Replies: 10
Views: 820

Re: In-service roll over

We are talking about in-service rollovers here while im still with the company correct?
by dskillz1
Sat Mar 04, 2017 1:09 pm
Forum: Investing - Help with Personal Investments
Topic: In-service roll over
Replies: 10
Views: 820

Re: In-service roll over

Thats a relief!
Thanks guys

Heres the link
thefinancebuff.com/in-service-withdrawal-the-law-and-the-plan-rules.html

About half way down
by dskillz1
Sat Mar 04, 2017 12:55 pm
Forum: Investing - Help with Personal Investments
Topic: In-service roll over
Replies: 10
Views: 820

In-service roll over

Almost 2 years ago i did an in-service rollover from my companies 401k to a rollover IRA with vanguard to escape some horrible options and expense ratios. My companys HR departmemt said i could do this with no tax penelties at all since it was going from one tax deferred retirement account to anothe...
by dskillz1
Tue Jan 31, 2017 1:05 pm
Forum: Personal Consumer Issues
Topic: NYC Notice Of Property Value
Replies: 11
Views: 920

Re: NYC Notice Of Property Value

Wow I never knew you could just pick a house and public records will reveal what that house is worth. Amazing, thanks so much for the heads up on these sites and everyone else for the advise! This now truly baffles me. I just looked up the new value of the house directly next to me which had work do...
by dskillz1
Tue Jan 31, 2017 11:25 am
Forum: Personal Consumer Issues
Topic: NYC Notice Of Property Value
Replies: 11
Views: 920

Re: NYC Notice Of Property Value

SO if its accurate then its not really a bad thing, a home going up in that much value? Does this mean that I now have to raise my home insurance premium to cover the additional value?
by dskillz1
Tue Jan 31, 2017 10:54 am
Forum: Personal Consumer Issues
Topic: NYC Notice Of Property Value
Replies: 11
Views: 920

NYC Notice Of Property Value

So I just received from the NYC Department Of Finance my statement telling me that my house just went up in value $184,000! A friend of mines house in the same neighborhood just went down $30,000. I had no work done to the house since I moved in 2 years ago so I'm baffled as to why such a huge incre...
by dskillz1
Mon Nov 21, 2016 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate in Another Country
Replies: 2
Views: 494

Real Estate in Another Country

My wife was left some properties (Her mom passed away) in the Dominican Republic a little over 2 years ago. For the last 2 years we have been dealing with an incompetent lawyer who is supposed to get the properties in my wife's name so we can sell them and be done with it. We have gotten basically n...
by dskillz1
Fri Nov 18, 2016 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: Real estate investments overseas
Replies: 0
Views: 827

Real estate investments overseas

My wife was left some properties (Her mom passed away) in the Dominican Republic a little over 2 years ago. For the last 2 years we have been dealing with an incompetent lawyer who is supposed to get the properties in my wife's name so we can sell them and be done with it. We have gotten basically n...
by dskillz1
Sat Oct 08, 2016 8:26 am
Forum: Investing - Help with Personal Investments
Topic: Annual 401K meeting at the job
Replies: 33
Views: 2522

Re: Annual 401K meeting at the job

I have spoken to HR and the plan administrator and have recommemded some low cost vanguard index funds and pleaded my case regarding the high expense ratios of all their funds .81 - 1.8. this was last year and it went on deaf ears. I was told by HR that i was the first one in the entire company to e...
by dskillz1
Fri Oct 07, 2016 9:12 am
Forum: Investing - Help with Personal Investments
Topic: Annual 401K meeting at the job
Replies: 33
Views: 2522

Re: Annual 401K meeting at the job

Thanks guys for all your input. Its all about money in this business I suppose.
by dskillz1
Thu Oct 06, 2016 9:15 pm
Forum: Investing - Help with Personal Investments
Topic: Annual 401K meeting at the job
Replies: 33
Views: 2522

Annual 401K meeting at the job

So Transamerica just came in to my place of employment to teach us the benefits of the 401K. I let them speak and when they asked if there were any questions of course I said yes. I asked "You have available a Vanguard Target date fund that has an expense ratio of .91 but if I go to Vanguard di...
by dskillz1
Mon Aug 08, 2016 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Contributions
Replies: 3
Views: 419

Re: 529 Contributions

Awesome, just what I needed to hear! Thanks guys.
by dskillz1
Mon Aug 08, 2016 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Contributions
Replies: 3
Views: 419

529 Contributions

I currently file my tax return joint with my wife every year, we live in NY. We have 2 children who we contribute 529 money to every paycheck. The rules state that we can contribute 28000 a year each for both children. My question is does it matter where the money comes from (my accounts or hers) to...
by dskillz1
Thu Aug 04, 2016 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Compound Interest Question
Replies: 4
Views: 700

Re: Compound Interest Question

Thanks for the info. I do understand how compound interest works I'm just trying to understand where it gets the interest rate from in order to compute the compound interest. Where can I find the current interest rate that it uses ? Is it specific to the mutual fund and if so where is it listed? Tha...
by dskillz1
Thu Aug 04, 2016 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: Compound Interest Question
Replies: 4
Views: 700

Compound Interest Question

How exactly does compound interest work on a Mutual Fund? Where do I find how much interest I made on a certain mutual fund after say a year?

Thanks
by dskillz1
Sun Jul 24, 2016 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Allstate Umbrella Insurance
Replies: 33
Views: 3519

Re: Allstate Umbrella Insurance

Does anyone know any companies that will allow me to buy an umbrella on my current auto and home policie that is with another insurance company?
by dskillz1
Sun Jul 24, 2016 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Allstate Umbrella Insurance
Replies: 33
Views: 3519

Re: Allstate Umbrella Insurance

Yes sorry I meant above 800. I a! Actually getting much better auto and home with Allstate than Geico which caused me to switch last year
by dskillz1
Sun Jul 24, 2016 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Allstate Umbrella Insurance
Replies: 33
Views: 3519

Allstate Umbrella Insurance

I currently have 3 policies with Allstate. Auto, home and flood. Ive been a customer for about a year have made all my payments on time and have never had any issues and on top of it my credit score is over 900. So I ask for a 1 million dollar Umbrella policy quote and they quote me $832 for the yea...
by dskillz1
Thu Jul 07, 2016 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: 529 Change of Ownership
Replies: 2
Views: 359

529 Change of Ownership

My wife and I both have separate 529 plans for each of our daughters. I would like to combine my wife's account with mine and the 529 plan people said all I need to do is fill out the "Change of Ownership" form and submit, no taxable event or anything according to them. However when I look...
by dskillz1
Wed Jul 06, 2016 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contributions - No longer able to Contribute
Replies: 6
Views: 714

Re: Roth IRA Contributions - No longer able to Contribute

Wow the Boglehead's Site is just some "random forum".

Thanks for the info guys.
by dskillz1
Wed Jul 06, 2016 11:28 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contributions - No longer able to Contribute
Replies: 6
Views: 714

Re: Roth IRA Contributions - No longer able to Contribute

Yes hes competent. I was just curious as to what happens regarding the IRS if I over contribute when Im no longer eligible. Do they penalize me, do I simply need to take the money out? Just need a quick overview. Thanks.
by dskillz1
Wed Jul 06, 2016 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contributions - No longer able to Contribute
Replies: 6
Views: 714

Roth IRA Contributions - No longer able to Contribute

Hey guys My wife and I currently contribute to our Roth IRA's and we fall between the income levels to do so based on our MAGI. What happens then if next tax season we do our taxes and find out we are now over that limit and realize we contributed when we were no longer able to do so. Are there pena...
by dskillz1
Sun Apr 17, 2016 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance [multiple concurrent policies]
Replies: 6
Views: 763

Re: Life Insurance [multiple concurrent policies]

OK great so I can basically apply for a new one, get approved and then quit the other one.

Thanks guys!
by dskillz1
Sat Apr 16, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance [multiple concurrent policies]
Replies: 6
Views: 763

Life Insurance [multiple concurrent policies]

Not sure if this is the proper place for this post so if not please let me know where to put it. I currently have term life insurance through my company. I'm considering getting a new plan independant of my company but I can only cancel my employer's plan when the next enrollment schedule comes arou...
by dskillz1
Mon Mar 14, 2016 4:04 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Match
Replies: 2
Views: 383

Re: 401K Match

Awesome!!! Thanks for the info.
by dskillz1
Mon Mar 14, 2016 3:55 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Match
Replies: 2
Views: 383

401K Match

Is the 401K employer match included towards the $18,000 cap limit when contributing ? Can I contribute 18K and they can contribute their match as well and not be worried about going over the 18K limit?
by dskillz1
Tue Jan 26, 2016 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Qualified 529 withdrawals
Replies: 7
Views: 424

Re: Qualified 529 withdrawals

OK so the limit is based on the gift tax max. Interesting.

Thanks for the enlightenment!
by dskillz1
Tue Jan 26, 2016 5:17 pm
Forum: Investing - Help with Personal Investments
Topic: Qualified 529 withdrawals
Replies: 7
Views: 424

Re: Qualified 529 withdrawals

OK so the limit is based on the gift tax max. Interesting.

Thanks for the enlightenment!