Search found 328 matches

by nolesrule
Thu Dec 14, 2017 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 87
Views: 4112

Re: How much did you contribute to your 401k in 2017?

Me: Max + match
Wife: $17,976.26 + match

Matches are an additional $11,969 total. Also maxed a pair of Roth IRAs.

41 & 41
by nolesrule
Wed Dec 13, 2017 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: ~100k sole proprietor income. Better to take business deductions or contribute more to solo 401k?
Replies: 18
Views: 986

Re: ~100k sole proprietor income. Better to take business deductions or contribute more to solo 401k?

Are we talking about employer contributions or employee contributions? First off, the $20k is gone whether you claim the expense or not. So it has no bearing on the ability to defer additional employee contributions. You either have the cash available to make an employee deferral or you don't. Secon...
by nolesrule
Tue Dec 12, 2017 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: best cashback credit card ?
Replies: 47
Views: 3423

Re: best cashback credit card ?

I recently added the PNC Cash Rewards Visa. 4% gas, 3% restaurants (and 2% groceries, 1% everything else... neither which I use the card for). There is a cap of $8000 in purchases on the gas, restaurants and groceries. But it fits in fine with our regular purchasing habits. Other than that, we use t...
by nolesrule
Tue Dec 12, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: best cashback credit card ?
Replies: 47
Views: 3423

Re: best cashback credit card ?

I dropped mine when earlier this year when the fee went to $95 (and announced that gift card purchases would no longer be rewarded). I believe they still waive the fee the first year. I switched to the no fee everyday version of the card as grocery purchases without any purchases of discounted gift...
by nolesrule
Tue Dec 12, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: best cashback credit card ?
Replies: 47
Views: 3423

Re: best cashback credit card ?

I dropped mine when earlier this year when the fee went to $95 (and announced that gift card purchases would no longer be rewarded). I believe they still waive the fee the first year. I switched to the no fee everyday version of the card as grocery purchases without any purchases of discounted gift...
by nolesrule
Sat Dec 02, 2017 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - uh oh
Replies: 18
Views: 2258

Re: Backdoor Roth IRA - uh oh

You can subtract your 401k contributions, Flex Spending Account, Dependent Day Care, Health Savings Account, Workplace medical premiums. I'm sure I'm forgetting a couple, but not much else of your gross income comes out of your MAGI. If I understand correctly, much of this is taken out by the emplo...
by nolesrule
Sat Dec 02, 2017 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Invest or pay off mortgage?
Replies: 77
Views: 6072

Re: Invest or pay off mortgage?

grabiner, thanks for the helpful info as usual. I just realized we're not throwing so much extra at the mortgage each month to go through the muni bond effort, especially if we were to spread across 2 funds. Right now it'd take close to a year just to meet the minimum purchase, and that money would ...
by nolesrule
Fri Dec 01, 2017 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Why should I donate to my alma mater?
Replies: 133
Views: 9367

Re: Why should I donate to my alma mater?

I donate to my alma mater but it's directed to an endowment fund to provide academic scholarships for students who attend from the county I grew up in.
by nolesrule
Fri Dec 01, 2017 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Invest or pay off mortgage?
Replies: 77
Views: 6072

Re: Invest or pay off mortgage?

I'm a bit curious about what bond funds I should be looking at in our situation for comparison. Assuming we make only the normal payment, we have 18 2/3 years left on a 20 year mortgage. Our rate is 3.125% and our marginal rate is an AMT rate of 32.5% putting the after tax rate at 2.11%. And we live...
by nolesrule
Thu Nov 30, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: How much home can we afford?
Replies: 29
Views: 1705

Re: How much home can we afford?

It's not about how much house can you afford it's what area you want to be in and the things around it . We have bought three houses now with at least one more to go and the conversation has never been about how much can we afford it's where and what. The wife has never wanted to hit our maximum am...
by nolesrule
Mon Nov 27, 2017 2:15 pm
Forum: Investing - Help with Personal Investments
Topic: Invested more than $5500 in IRA - Help
Replies: 14
Views: 1212

Re: Invested more than $5500 in IRA - Help

Ryman - Yes you are right. I make around 130k and my wife makes around 90k. We are in the 28% tax bracket. We live in NJ. I get your point about the pre-tax dollars for investment. Earl - Thank you for correcting my interpretation. It is very clear now. Thanks guys ! Appreciate your help. You shoul...
by nolesrule
Sun Nov 26, 2017 10:30 am
Forum: Investing - Theory, News & General
Topic: HSA: "Pay out of pocket" vs Withdraw math problem
Replies: 48
Views: 3359

Re: HSA: "Pay out of pocket" vs Withdraw math problem

We live in New Jersey so our situation is a bit different from most. To keep things simple the only fund we use for investments is a Treasury fund at 0.4% ER so we don't have to deal with state taxes. We reimburse as we go and that money allows us to put more in VTSAX or VTIAX where we have better c...
by nolesrule
Fri Nov 24, 2017 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Light on Taxable- Cut Retirement Contributions Or Take 10% Penalty?
Replies: 21
Views: 1812

Re: Light on Taxable- Cut Retirement Contributions Or Take 10% Penalty?

You are focusing on the savings side of the equation, but the problem is your expenses are too high. You are not living below your means.
by nolesrule
Tue Nov 21, 2017 5:53 pm
Forum: Investing - Help with Personal Investments
Topic: Regular 401K vs Roth 401K
Replies: 31
Views: 2076

Re: Regular 401K vs Roth 401K

And when I said above that in the 4 different 401k plans I've been apart of I've never had the ability to make after-tax contributions, I was referring to non-Roth after-tax contributions. Generally when we refer to Roth we mean Roth, and when we refer to after-tax, we mean non-Roth after-tax. As fa...
by nolesrule
Sun Nov 19, 2017 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: High deductible health insurance with HSA for family of 5
Replies: 12
Views: 995

Re: High deductible health insurance with HSA for family of 5

If your employer contributes $2250 to the HSA, you will only be able to contribute $4650.
by nolesrule
Sun Nov 19, 2017 9:55 pm
Forum: Investing - Help with Personal Investments
Topic: Regular 401K vs Roth 401K
Replies: 31
Views: 2076

Re: Regular 401K vs Roth 401K

it is great that you could do that. It is a shame to see that the employer in my case is dictating how the employees should invest their money. I don't get exactly why they would want to limit their employees. Many, probably most, 401k plans do not allow after tax contributions, not just yours. I'v...
by nolesrule
Sun Nov 19, 2017 5:14 pm
Forum: Investing - Help with Personal Investments
Topic: Regular 401K vs Roth 401K
Replies: 31
Views: 2076

Re: Regular 401K vs Roth 401K

After-tax contributions and Roth contributions are not the same thing. Roth 401k employee contributions and Traditional 401k employee contributions are subject to a total shared contribution limit of $18000. Some plans allow after-tax contributions which can go beyond the $18k limit. Earnings are su...
by nolesrule
Sun Nov 19, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Collection agency calls intended for another person:
Replies: 36
Views: 2907

Re: Collection agency calls intended for another person:

Changing your number is a crap shoot. Your new number is almost always someone else's old number.
by nolesrule
Sat Nov 18, 2017 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 1 Year CD now 1.65% with 25,000 Minimum
Replies: 10
Views: 2083

Re: Ally Bank 1 Year CD now 1.65% with 25,000 Minimum

Capital One 360 1 year CD is at 1.65% with no minimum. Actually, currently Capital One 360 beats or is the same as Ally at every rate point for all terms for all size balances... excluding terms that have rates that fall below the base savings/money market rate. But that's right now and could of cou...
by nolesrule
Thu Nov 16, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Value of 401k Employer Match vs. Salary Equivalent
Replies: 34
Views: 3340

Re: Value of 401k Employer Match vs. Salary Equivalent

IMO, a dollar lost in 401k matches is worth more than $1 to you today. Your marginal tax bracket is 25%, while its true that your employer is able to deduct that match as employee compensation, that is not the question. The answer is if you had to replace that $5K match outside of the 401K plan (as...
by nolesrule
Thu Nov 16, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Value of 401k Employer Match vs. Salary Equivalent
Replies: 34
Views: 3340

Re: Value of 401k Employer Match vs. Salary Equivalent

IMO, a dollar lost in 401k matches is worth more than $1 to you today. Your marginal tax bracket is 25%, while its true that your employer is able to deduct that match as employee compensation, that is not the question. The answer is if you had to replace that $5K match outside of the 401K plan (as...
by nolesrule
Fri Nov 03, 2017 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: "Re-Recharacterize" Traditional to Roth
Replies: 12
Views: 695

Re: "Re-Recharacterize" Traditional to Roth

Move the Rollover IRA into your 401k in November, and then do the Roth conversion in 2018. You'll pay taxes on the gains, but it'll keep things relatively simpler.

You'll file the 8606 for tax year 2017 to track the basis if the non-deductible IRA and then the 2018 form will handle the conversion.
by nolesrule
Fri Nov 03, 2017 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Alway contribute to HSA if incurring medical expenses?
Replies: 10
Views: 1070

Re: Alway contribute to HSA if incurring medical expenses?

A different question on HSA, I want to max out my HSA space as much as possible. If I have my family insured under my employer (high deductible plan), and I contribute to an HSA, can my husband contribute to his HSA with his employer even though he's under my health insurance? He can make contribut...
by nolesrule
Thu Nov 02, 2017 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: I'm fairly young but done with saving money
Replies: 75
Views: 9528

Re: I'm fairly young but done with saving money

I think the real question here is that if you stop saving, what are you going to do with that money? He proposed taking a different job with less stress and fewer hours in exchange for a lower salary. But how much lower? Enough to only meet spending needs? Or just lower than it is now but still hav...
by nolesrule
Thu Nov 02, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: I'm fairly young but done with saving money
Replies: 75
Views: 9528

Re: I'm fairly young but done with saving money

I think the real question here is that if you stop saving, what are you going to do with that money? Spend it? If that's what you do, then your annual expenses have gone up and you need to adjust your retirement need calculations for your new annual spending rate. There's probably a sweet spot you c...
by nolesrule
Wed Oct 25, 2017 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA at Vanguard throwing an error
Replies: 5
Views: 381

Re: Backdoor Roth IRA at Vanguard throwing an error

When you first add a bank account to an investment account at Vanguard, the funds take longer to settle. You can buy with the new funds from a new bank account within the investment account right away, but you cannot transfer money or funds to a different account until the funds have settled.
by nolesrule
Mon Oct 23, 2017 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: I have a lot of liquid cash for emergencies/budgets - better to put in a mutual fund with check writing?
Replies: 7
Views: 692

Re: I have a lot of liquid cash for emergencies/budgets - better to put in a mutual fund with check writing?

The Capital One 360 Money Market earns more than their savings accounts. Just consolidate everything back into a single account and use a spreadsheet to track the "category" amounts.
by nolesrule
Sat Oct 21, 2017 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: Confused About 401(k) Rollover as HCE with Backdoor Roth
Replies: 13
Views: 971

Re: Confused About 401(k) Rollover as HCE with Backdoor Roth

The HCE status is based on what you actually earn with the company in the year they look at. It's not what your potential would have been in a given year if you had stuck out the entire year. If you have a salary of $150k but leave after 6 months and only earned $75k in the year, you would not be co...
by nolesrule
Thu Oct 19, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Needs help regarding after tax 401k
Replies: 30
Views: 2089

Re: Needs help regarding after tax 401k

Just to add to what Spirit Rider was saying, another article for consideration that generally gets dropped into these discussions of Roth vs. traditional from tfb...

https://thefinancebuff.com/case-against-roth-401k.html
by nolesrule
Mon Oct 16, 2017 7:17 am
Forum: Personal Finance (Not Investing)
Topic: HSA’s: What level of risk do you prefer?
Replies: 58
Views: 4097

Re: HSA’s: What level of risk do you prefer?

If it's your computer, then it's not "the cloud". It's your computer. You are responsible for maintaining the hardware so that it continues to work.

The software you use to access it isn't relevant.
by nolesrule
Sun Oct 15, 2017 10:13 am
Forum: Personal Finance (Not Investing)
Topic: HSA’s: What level of risk do you prefer?
Replies: 58
Views: 4097

Re: HSA’s: What level of risk do you prefer?

The "cloud" is just someone else's computer.
by nolesrule
Tue Oct 10, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: HSA’s: What level of risk do you prefer?
Replies: 58
Views: 4097

Re: HSA’s: What level of risk do you prefer?

We're in New Jersey so I'm following grabiner's advice and keeping the invested portions in a U.S. Treasury Fund, especially since our HSA requires a cash threshold declaration and sweeping of funds back and forth, which would otherwise annoyingly be state taxable events. We also keep 1 year in-netw...
by nolesrule
Fri Oct 06, 2017 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth questions and is it worth it?
Replies: 9
Views: 764

Re: Mega Backdoor Roth questions and is it worth it?

Since she's an HCE, her after-tax contributions will be subject to ACP testing. Hmmm, I wonder what the odds are that her after-tax contributions would move the needle on ACP testing? She's on the low end of the HCE scale in a megacorp. Given the max contribution percentage limit, the after-tax per...
by nolesrule
Fri Oct 06, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth questions and is it worth it?
Replies: 9
Views: 764

Re: Mega Backdoor Roth questions and is it worth it?

she would end up with about $1500 in after-tax contributions. If it is just a matter of getting an extra $1500/yr into a Roth or not while you are saving $100K+/yr, then who cares. Don't sweat it. Regardless, that small amount going to a Roth or to a tax efficient index fund in a taxable account, m...
by nolesrule
Fri Oct 06, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth questions and is it worth it?
Replies: 9
Views: 764

Re: Mega Backdoor Roth questions and is it worth it?

More like $63k excluding HSA and company matches, but I see your point.
by nolesrule
Fri Oct 06, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth questions and is it worth it?
Replies: 9
Views: 764

Mega Backdoor Roth questions and is it worth it?

To set the parameters, my wife is considered an HCE, and thus is limited in the percentage that she can contribute to her 401k. Let's say that based on that percentage, she would end up with about $1500 in after-tax contributions. All of these after-tax contributions would occur toward the end of th...
by nolesrule
Thu Oct 05, 2017 8:03 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone go 100% Ally or another online bank for all banking needs?
Replies: 61
Views: 5460

Re: Anyone go 100% Ally or another online bank for all banking needs?

I started with Netbank some 15 years ago, which got taken over by ING, and then it became Capital One 360. I haven't had any serious issues over the years. I think there have been 3 instances where I had a check I tried to deposit that wouldn't work with their mobile deposit, but that's the only rea...
by nolesrule
Thu Oct 05, 2017 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: Where do you think the money will come from to move the overall market higher?
Replies: 31
Views: 2429

Re: Where do you think the money will come from to move the overall market higher?

I wonder about this too, although for a slightly different reason. Total student loan debt in this country: $1,400,000,000,000.00 Total credit card debt in this country: $1,000,000,000,000.00 Total auto loan debt in this country: $1,000,000,000,000.00 And all are growing. This can't possibly end we...
by nolesrule
Mon Oct 02, 2017 12:13 pm
Forum: Investing - Help with Personal Investments
Topic: Are credit cards rewards worth it?
Replies: 103
Views: 6609

Re: Are credit cards rewards worth it?

The "chase" for rewards doesn't drive our spending, it just drives which card we use. We pulled in about $2100 in the last 12 months, not including Target, which takes 5% off at the register, and our Hilton Visa which gives the equivalent of 3% in point value plus an annual spending bonus on hotel s...
by nolesrule
Mon Oct 02, 2017 7:27 am
Forum: Investing - Help with Personal Investments
Topic: Roth Backdoor 101 - Some basic questions...
Replies: 9
Views: 876

Re: Roth Backdoor 101 - Some basic questions...

The important consideration is that any traditional (including SEP) IRAs need to have a zero pre-tax balance on December 31st in the year of the Roth conversion (which may or may not be the same year of the non-deductible contribution) in order to avoid the pro-rata and taxation mess. As was pointed...
by nolesrule
Wed Sep 27, 2017 8:30 pm
Forum: Investing - Help with Personal Investments
Topic: HSA: Married mid-year, which HSA can we deposit to?
Replies: 11
Views: 945

Re: HSA: Married mid-year, which HSA can we deposit to?

The question that needs to be asked first is whether you are now on a family insurance plan or still on two single plans.
by nolesrule
Sat Sep 23, 2017 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Roll over now or next year - thoughts?
Replies: 7
Views: 731

Re: Roll over now or next year - thoughts?

How much earnings and pre-tax dollars are you planning to convert? There's a limit to how much ordinary income can be offset by capital losses in a single year.
by nolesrule
Sat Sep 23, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: How Often Do you make a Back-Door Roth Conversion
Replies: 29
Views: 2613

Re: How Often Do you make a Back-Door Roth Conversion

So question for simplicity, if I make a $5,500 non-deductible ira contribution on Jan 01 and I don't make a roth conversion until Dec 01. If in between Jan 01 and Dec 01 the balance grows by $1,000 due to earnings and dividends, can I not convert the entire $6,500 balance? Sure you can. You'll just...
by nolesrule
Fri Sep 22, 2017 9:15 am
Forum: Investing - Help with Personal Investments
Topic: 1099 employees how do you mentally handle taking time off?
Replies: 25
Views: 1469

Re: 1099 employees how do you mentally handle taking time off?

There are workaholics, and there are people who milk their maximum PTO, and there are people in between. You have to decide which kind of person you want to be and do your mental accounting accordingly. :) I have no problem leaving revenue on the table if it means using that time to improve quality ...
by nolesrule
Fri Sep 22, 2017 9:00 am
Forum: Investing - Help with Personal Investments
Topic: 1099 employees how do you mentally handle taking time off?
Replies: 25
Views: 1469

Re: 1099 employees how do you mentally handle taking time off?

When I was 1099, I calculated time off into my bill rate so that I knew I'd be able to take the time and still meet my financial goals. I did the same. In addition, even though I was a Schedule C, I would transfer money from the self-employment bank account to personal account on a regular basis to...
by nolesrule
Wed Sep 13, 2017 8:41 pm
Forum: Personal Consumer Issues
Topic: Someone set up PayPal account using my email...
Replies: 35
Views: 2923

Re: Someone set up PayPal account using my email...

Same thing happens on a gmail account using my first and last name, which I use for backup email. I have 3 people thinking it's theirs, 1 in Pennsylvania, 1 in Ohio and 1 in California. I've received all sorts of strange emails, from car maintenance appointments to masters degree program email lists...
by nolesrule
Wed Aug 23, 2017 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: What do you do with RMD money you don't need?
Replies: 51
Views: 4636

Re: What do you do with RMD money you don't need?

RMDs are a pita if you don't need the money for living expenses. I do a combination of the options that you listed. Most of it is reinvested in taxable accounts. Having to invest the money in a taxable account aggravates me. I've made significant contributions to charities and learned that once is ...
by nolesrule
Mon Aug 07, 2017 8:42 am
Forum: Personal Consumer Issues
Topic: NYT: Buy more takeout and hire a maid, study suggests
Replies: 36
Views: 6192

Re: NYT: Buy more takeout and hire a maid, study suggests

My wife read this article and convinced me to give a housekeeper a try that was recommended by her coworker. They did a deep clean first pass for a bit more money on Saturday, and I have to say I was extremely pleased with the result. We're going to bring them in every two weeks for maintenance clea...
by nolesrule
Sat Aug 05, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Commuter Tax benefits for non-work public transit trips?
Replies: 10
Views: 805

Re: Commuter Tax benefits for non-work public transit trips?

I'm not sure that document referenced is even relevant to this discussion. it does not reference the IRS or Tax Code (other than a reference to tax-free subsidy limits) and seems to be specifically about abuse of a specific defined Transportation Subsidy Program.
by nolesrule
Fri Aug 04, 2017 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Commuter Tax benefits for non-work public transit trips?
Replies: 10
Views: 805

Re: Commuter Tax benefits for non-work public transit trips?

I understand a "transit pass" to be a monthly (or weekly) pass that will allow you to take all the trips you want for a given price, likely within a certain "zone". So, that qualifies. However, it sounds like you're talking about a plastic card that has stored value on it that you would then use to...