Search found 777 matches

by nolesrule
Sat Nov 17, 2018 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: How Much of a Hassle is it Going to be to Roll Back 2018 Roth Contributions?
Replies: 10
Views: 830

Re: How Much of a Hassle is it Going to be to Roll Back 2018 Roth Contributions?

Is it true that recharacterizing a Roth Conversion, starting this year 2018, cannot be done after 12/31/18? I thought with the old tax law you could recharacterize until April 15th of the next year, but now you no longer can wait that long. Roth conversions cannot be recharacterized at all under th...
by nolesrule
Fri Nov 16, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Banking 1% extra back up to $1,000 on new money deposited
Replies: 477
Views: 45096

Re: Ally Banking 1% extra back up to $1,000 on new money deposited

My email estimate was a dollar more than what I had calculated. So it seems that they are including interest paid into the accounts during the initial period. My interest was paid on November 5th. That was the only transaction other than my deposits (besides opening some no penalty CDs).
by nolesrule
Wed Nov 14, 2018 8:14 am
Forum: Investing - Help with Personal Investments
Topic: Transfering from 401K yearly into trad IRA question
Replies: 18
Views: 814

Re: Transfering from 401K yearly into trad IRA question

Generally, you cannot make in-service withdrawals or rollovers of pre-tax 401k balances to an IRA under the age of 59.5.

Some of the exceptions, depending on your plan, may include after-tax contributions, company match, or roll-ins from other plans.
by nolesrule
Wed Nov 14, 2018 8:06 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to Roth IRA now or tIRA later (to save tax)?
Replies: 20
Views: 1232

Re: Contribute to Roth IRA now or tIRA later (to save tax)?

Unfortunately, with your income in the partially deductible range, and with traditional IRA balances, it appears that your ability to contribute to Roth IRAs, either through the front door or the back door, is severely limited. Can you and your spouse roll your Traditional IRAs to §401(k) plans or ...
by nolesrule
Tue Nov 06, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

That old Rule 4 is dead and gone in the new online YNAB. RIP. It was also the 4th rule of 4 and the least important, and more of a goal than a rule. Something to work toward achieving, if you wanted to. (The new rule 4 "Age Your Money" is a bad/sad joke). Trust me, I know what I'm talking about. I'...
by nolesrule
Tue Nov 06, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

The method doesn't want you to be a month ahead. It's actually designed to help get people out of financial trouble and is optimized to that scenario, to the detriment of those who are in good shape, needing to create workarounds. The credit card functionality has nothing to do with being a month a...
by nolesrule
Tue Nov 06, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

I start a trial account and it wants me to budget my money to pay off the credit cards rather than count those expenses as "groceries". Am I missing something? The first month you use YNAB is the most confusing because its method wants you to be at least a month ahead so you are spending last month...
by nolesrule
Tue Nov 06, 2018 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

I’ve thought about using YNAB. But am unsure about retrieving transactions fo various institutions. Does YNAb store passwords on hard drives r on their servers? Can you do it manually (not store passwords but do the download manually).? They have a file import feature if you want to download transa...
by nolesrule
Mon Nov 05, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

Small Law Survivor wrote:
Mon Nov 05, 2018 6:10 pm
nolesrule wrote:
Sun Nov 04, 2018 10:58 am

You can speed YNAB up periodically by compacting the data. Just make sure all your devices that use it have synced first. Ctrl+Shift+C
Ctrl-Shift-C doesn't appear to do anything on my MacBook ....
Sorry, I got it wrong the first time. Ctrl+Alt+Shift+C, or on a Mac, Command instead of Ctrl
by nolesrule
Mon Nov 05, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

Small Law Survivor wrote:
Mon Nov 05, 2018 9:04 am
To be clear, I am still using YNAB 4
Like I said earlier. Just do a Fresh Start on January 1. You'll have all data to Dec 31, 2018 archived, and can start with your same accounts and categories but zero transactions, so a small amount of data. All you'll have to do is reset your account balances.
by nolesrule
Mon Nov 05, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

I don't budget... Once you keep minimal expenses, you will save 50%+ gross income automatically. You don't need these apps. There are hacks to get what you want for 20-30% of the cost for a lot of stuff. It's not always easy to save that much and there are plenty of competing priorities for your mo...
by nolesrule
Sun Nov 04, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

They still haven't fixed the major user experience problem known as "Stealing From The Future". It's a term I coined and called out in beta three years ago. It took them 2 months to acknowledge it publicly, 6 months to say they had a fix right around the corner, and here we are almost three years si...
by nolesrule
Sun Nov 04, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

Also, if you are just using it for tracking and not budgeting where you need to rely on past data to make future decisions in the budget, do a Fresh Start at the new year. It'll archive all your old data so that it's still available.
by nolesrule
Sun Nov 04, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Is Cloud-Based YNAB Worth It?
Replies: 51
Views: 2855

Re: Is Cloud-Based YNAB Worth It?

I haven't bothered to upgrade. But I also don't use the mobile app. I greatly dislike some of the changes they made.

You can speed YNAB up periodically by compacting the data. Just make sure all your devices that use it have synced first. Ctrl+Shift+C
by nolesrule
Fri Nov 02, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Roth in a high tax bracket
Replies: 14
Views: 1510

Re: Roth in a high tax bracket

I would not convert to Roth in a high tax bracket, but would do the backdoor Roth if I had no pre-tax Traditional IRA. I also would continue to add to Traditional 401k until such time that I project withdrawals from current contributions would fill up the lower tax brackets. The comparison is margin...
by nolesrule
Wed Oct 31, 2018 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth for $ deposited in January
Replies: 5
Views: 277

Re: Backdoor Roth for $ deposited in January

Thanks for your responses everyone. 1) she is rolling over her tIRA to her 401k account so the pro rate rule will not apply. 2) her AGI is over the limit so she cannot contribute directly to a Roth IRA. 3) The idea is to maximize the amount she can rollover to her Roth without paying even $1 in add...
by nolesrule
Wed Oct 31, 2018 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: How do I follow the pro rata rule?
Replies: 9
Views: 702

Re: How do I follow the pro rata rule?

All the money contributed to traditional IRA including the rollover and tax deferred are pre-tax so they were deducted. It's still unclear from your post. Did you make a traditional IRA contribution this year or in any year you were above the income threshold for making a deductible contribution? N...
by nolesrule
Wed Oct 31, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: How do I follow the pro rata rule?
Replies: 9
Views: 702

Re: How do I follow the pro rata rule?

All the money contributed to traditional IRA including the rollover and tax deferred are pre-tax so they were deducted. It's still unclear from your post. Did you make a traditional IRA contribution this year or in any year you were above the income threshold for making a deductible contribution? N...
by nolesrule
Wed Oct 31, 2018 11:45 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth for $ deposited in January
Replies: 5
Views: 277

Re: Backdoor Roth for $ deposited in January

If her AGI is low enough that she can make direct Roth IRA contributions, she can recharacterize her 2018 contributions to Roth.

If not, then she's going to run into the pro-rata issue with her Traditional IRA unless she can roll the pre-tax money into her 401k.
by nolesrule
Mon Oct 29, 2018 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 162
Views: 12645

Re: Am I doing well financially?

Our "food" budget for 4 people is about $1000 / month. And that includes going out too much with the older kid now eating adult entrees. On months where we eat out less frequently, it doesn't increase groceries all that much. We spend about $500-550/month on groceries. We rarely eat lunch out at wor...
by nolesrule
Sun Oct 28, 2018 1:18 pm
Forum: Investing - Theory, News & General
Topic: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"
Replies: 82
Views: 9175

Re: PhysicianOnFire blog: "Tax Loss Harvesting with Vanguard: A Step by Step Guide"

After reading the article Taylor posted, I don't see the gain for someone taking the loses when one day you will have to pay back the gain in capital gains because of the lower cost basis. So, for someone that will never lower their tax bracket in retirment will just be paying back the gains and ma...
by nolesrule
Sat Oct 27, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Tax loss harvesting
Replies: 54
Views: 3474

Re: Help with Tax loss harvesting

Perhaps one does not Buy securities in a tax-advantaged account? Line 4 uses the word "Acquire" when referring to IRAs, not "buy". Words have meaning and these verbs are not the same. Furthermore, one certainly does not "Buy" in a 401k. One gives investment instructions to the plan administrator wh...
by nolesrule
Sat Oct 27, 2018 9:21 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA earned income qualifying period
Replies: 9
Views: 902

Re: ROTH IRA earned income qualifying period

Rollovers are not contributions. I think it's more accurate to say that a rollover to a Roth IRA is a specific type of contribution, distinct from a regular/annual contribution or a conversion contribution. IRA custodians use box 2 of Form 5498 to report the amount of "Rollover contributions" for t...
by nolesrule
Sat Oct 27, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Help with Tax loss harvesting
Replies: 54
Views: 3474

Re: Help with Tax loss harvesting

The IRS is welcome to give very clear guidance. They have. Pub 550: "A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days before or after the sale you: 1. Buy substantially identical stock or securities, The Revenue Ruling about IRA's did not and does not negat...
by nolesrule
Fri Oct 26, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvest OR Buy More?
Replies: 19
Views: 1485

Re: Tax Loss Harvest OR Buy More?

If you bought within the the last 31 days (including today), then you would need to also sell those shares or else you would have a wash sale. Not a big deal, but something to keep in mind. And most likely those shares are at a loss right now anyway. So, are you saying when we are doing TLH, to avo...
by nolesrule
Fri Oct 26, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Should I get vision insurance?
Replies: 39
Views: 4054

Re: Should I get vision insurance?

Family of 4, 3 with glasses. We get our money's worth from the vision insurance.
by nolesrule
Fri Oct 26, 2018 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvest OR Buy More?
Replies: 19
Views: 1485

Re: Tax Loss Harvest OR Buy More?

If you bought within the the last 31 days (including today), then you would need to also sell those shares or else you would have a wash sale. Not a big deal, but something to keep in mind. And most likely those shares are at a loss right now anyway. thanks, good to know. would direct exchange into...
by nolesrule
Fri Oct 26, 2018 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvest OR Buy More?
Replies: 19
Views: 1485

Re: Tax Loss Harvest OR Buy More?

If you bought within the the last 31 days (including today), then you would need to also sell those shares or else you would have a wash sale. Not a big deal, but something to keep in mind. And most likely those shares are at a loss right now anyway.
by nolesrule
Thu Oct 25, 2018 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: Wash sale with TLH
Replies: 9
Views: 510

Re: Wash sale with TLH

I realized that I accidentally created a wash sale and want some input regarding what to do (if anything). Yesterday I sold several lots of Total Stock index (VTSAX) for a loss. Unbeknownst to me, my wife purchased VTSAX several weeks ago in her taxable account. My questions are: 1) I am assuming t...
by nolesrule
Tue Oct 23, 2018 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: Self-employee investments
Replies: 11
Views: 829

Re: Self-employee investments

He does have few part time employees working for him so 401k is not a option. Is there any company offer plan to manage your retirements and how much fees usually do they charge. How "part-time" are they? As in how many hours per year? Some of the Solo 401k plans have eligibility restriction options.
by nolesrule
Tue Oct 23, 2018 11:31 am
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 101
Views: 5185

Re: 2019 Expenses > 2019 Income – Help us close the gap

You have 3 options: 1) cut expenses instead of making excuses for why you aren't willing to cut expenses 2) take money from taxable savings you already have to cover all those expenses you aren't willing to cut 3) have your wife go back to work because you aren't willing to do #1 and/or #2. I'm acti...
by nolesrule
Tue Oct 23, 2018 10:38 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA earned income qualifying period
Replies: 9
Views: 902

Re: ROTH IRA earned income qualifying period

Rollovers are not contributions.

Contributions designated for 2018 must have income in 2018.
by nolesrule
Tue Oct 23, 2018 10:09 am
Forum: Investing - Help with Personal Investments
Topic: Mega backdoor roth with traditional IRA
Replies: 9
Views: 628

Re: Mega backdoor roth with traditional IRA

Do conversions of after-tax 401k to Roth 401k get affected by IRA balances? I don't think these conversions are reported on Form 8606 so I don't think there's an IRA pro-rata issue here.
by nolesrule
Sat Oct 20, 2018 9:11 am
Forum: Investing - Help with Personal Investments
Topic: Small 1-time NON-deductible traditional IRA contribution
Replies: 3
Views: 285

Re: Small 1-time NON-deductible traditional IRA contribution

Having a work plan doesn't automatically preclude you from making a deductible contributing to an IRA. You must have a MAGI above the limit for deduct-ability. Not enough info in your post to make a determination.

I'd probably just try to roll it into my workplace plan or convert to Roth.
by nolesrule
Fri Oct 19, 2018 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)
Replies: 34
Views: 3060

Re: Question Regarding Five Year Rule for Roth IRA Withdrawals (Alan S. Please Help!)

Earnings in a Roth 401k are still earnings when they are rolled over to a Roth IRA.
by nolesrule
Fri Oct 19, 2018 8:23 am
Forum: Investing - Help with Personal Investments
Topic: How much post-tax dollars can you really put in tIRA each year
Replies: 7
Views: 772

Re: How much post-tax dollars can you really put in tIRA each year

https://www.bogleheads.org/wiki/Bbackdoor_Roth_IRA Have you read this? Your questions are confusing.........your title sounds like you want to put post-tax dollars into TIRA but post "How does backdoor work if I cannot contribute pre-tax dollars to tIRA?" suggests you want to contribute pre-tax. Wh...
by nolesrule
Fri Oct 19, 2018 7:24 am
Forum: Investing - Help with Personal Investments
Topic: Is there a benefit of investing in Traditional IRA if company provides 401K
Replies: 23
Views: 1908

Re: Is there a benefit of investing in Traditional IRA if company provides 401K

Here's another reason I can think of to have a traditional IRA if you have a 401K. Contribute pre-tax to the 401K and get the company match. If your investment choices suck, transfer the pretax and company match money to an IRA where you have more control of the investments and fees. I'm not sure i...
by nolesrule
Thu Oct 18, 2018 2:58 pm
Forum: Investing - Help with Personal Investments
Topic: TLH - mutual fund partner trios?
Replies: 12
Views: 590

Re: TLH - mutual fund partner trios?

crit wrote:
Thu Oct 18, 2018 12:52 pm
Living Free wrote:
Thu Oct 18, 2018 12:42 pm
could consider the vanguard S&P 500 index fund for a US stock index
Because I have VFINX, the vanguard 500 index, in our Roth IRAs this would create a wash sale.
How would that create a wash sale?
by nolesrule
Thu Oct 18, 2018 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Paying off the mortgage early - Isn't this the opposite of "putting more money into your house"?
Replies: 96
Views: 8985

Re: Paying off the mortgage early - Isn't this the opposite of "putting more money into your house"?

Think about it: Have you ever met anyone who regretted paying off their mortgage? This seems pretty important to me. Does anyone here regret paying off their mortgage early? I paid mine off in two lump sums in 2012/2013 and even knowing now the math would've favored investing instead, I still don't...
by nolesrule
Mon Oct 15, 2018 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: I401k Contribution Limits
Replies: 7
Views: 449

Re: I401k Contribution Limits

Tell him to read Chapter 4 and Chapter 5 of Publication 560. Particularly the worksheet in Chapter 5 which allows for both employee deferrals and employer profit sharing (though the numbers in steps 6, 8 and 9 are 2017 limits in the current version of the publication). Or get a new accountant. And a...
by nolesrule
Sat Oct 13, 2018 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: TLH VTIAX [Tax loss harvest - Vanguard Total International Stock]
Replies: 69
Views: 4755

Re: TLH VTIAX

There are some people (and apparently betterment) who hold the opinion that 401k accounts are included, however only taxable accounts and IRAs are explicitly mentioned in official Wash Sale guidance. Well, not considering 401k accounts when assessing wash sale transactions would certainly violate t...
by nolesrule
Sat Oct 13, 2018 11:00 am
Forum: Investing - Help with Personal Investments
Topic: TLH VTIAX [Tax loss harvest - Vanguard Total International Stock]
Replies: 69
Views: 4755

Re: TLH VTIAX

401(k) holdings are not subject to wash sales. I remember reading to the contrary. For example, The wash sale rule applies not just to situations when a "substantially identical" purchase is made in the same account, but also when the purchase is made in the individual's IRA account, or even in a s...
by nolesrule
Sat Oct 13, 2018 9:41 am
Forum: Investing - Help with Personal Investments
Topic: TLH VTIAX [Tax loss harvest - Vanguard Total International Stock]
Replies: 69
Views: 4755

Re: TLH VTIAX

401(k) holdings are not subject to wash sales. I remember reading to the contrary. For example, The wash sale rule applies not just to situations when a "substantially identical" purchase is made in the same account, but also when the purchase is made in the individual's IRA account, or even in a s...
by nolesrule
Fri Oct 12, 2018 7:09 am
Forum: Investing - Help with Personal Investments
Topic: Wash Sale?
Replies: 15
Views: 770

Re: Wash Sale?

We reinvested dividends in our Roth IRAs. I had thought about holding off to TLH till the proper amount of time had passed, but after calculating the number of shares purchased between our two IRAs, the disallowed loss came to $20.15. So I sold the entire taxable position yesterday and will buy a si...
by nolesrule
Thu Oct 11, 2018 7:07 pm
Forum: Investing - Help with Personal Investments
Topic: What did you buy today
Replies: 111
Views: 8394

Re: What did you buy today

Sold all of my VTIAX in taxable to harvest losses. Will be buying IXUS with the proceeds.
by nolesrule
Sun Oct 07, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: A strategy to pay off home at retirement?
Replies: 57
Views: 4306

Re: A strategy to pay off home at retirement?

I know logically that would make sense, as I would get a better return than the 3.85 fixed rate paying on mortgage. However, there is a physiological component of not having mortgage, etc. Thanks to all for your input. If your house was paid for, would you go to a bank and take out a $150k loan at ...
by nolesrule
Sun Oct 07, 2018 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Concerns of buying a home...what would you do?
Replies: 23
Views: 2145

Re: Concerns of buying a home...what would you do?

OP, So far, you had not asked or answered the most important question about the house. How good is the public school in the neighborhood? If you need to send your kids to private school, it will cost a lot of money. KlangFool The neighborhood I am looking at has adequite public schools. Purple_Ride...