Search found 122 matches

by AirTimeMD
Fri Jan 10, 2020 10:47 am
Forum: Personal Investments
Topic: Forgot the elementary basics about IRAs - help requested
Replies: 2
Views: 215

Forgot the elementary basics about IRAs - help requested

Hi BogleHeads, I've forgotten an elementary concept of personal financial management. My income is approximately $650,000. My wife has no income and stays at home with our child. We file jointly. Questions: 1) Can she (me on her behalf) contribute $6,000 to her Roth IRA for 2020 or do I have to cont...
by AirTimeMD
Sun Oct 20, 2019 10:36 pm
Forum: Personal Consumer Issues
Topic: Old bourbon whisky
Replies: 26
Views: 4535

Re: Old bourbon whisky

I will buy it from you :)
by AirTimeMD
Tue Oct 08, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Company insurance "agent" earning 5% commission
Replies: 9
Views: 1456

Re: Company insurance "agent" earning 5% commission

Thank you all, as always, for contributing and enhancing my education on the matter.
by AirTimeMD
Mon Oct 07, 2019 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Company insurance "agent" earning 5% commission
Replies: 9
Views: 1456

Re: Company insurance "agent" earning 5% commission

This was a big land for BCBS. 5% Commission seems fair for someone that make a living selling insurance. What they get paid shouldn’t be of concern to you. It’s just business. Cheers Hi Silk, My understanding is that they are paid based on my rates. I'm paying 100% of my employees insurance so my t...
by AirTimeMD
Mon Oct 07, 2019 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Company insurance "agent" earning 5% commission
Replies: 9
Views: 1456

Company insurance "agent" earning 5% commission

Good afternoon BH, My company recently switched our health insurance carrier from UHC to BCBS. One of the documents that BCBS sent over was an "Agent Acknowledgement" form. This form shows that our company agent is earning a 5% commission percentage that is included in our insurance rates. We have 5...
by AirTimeMD
Wed Jul 24, 2019 11:11 am
Forum: Personal Investments
Topic: Have no problem managing my $5M portfolio - scared of my Dad's $120k
Replies: 45
Views: 3689

Re: Have no problem managing my $5M portfolio - scared of my Dad's $120k

if is not itemizing on his taxes and deducting the interest on the mortgage, paying it off would be a 5.3% after-tax return, right? That doesn't sound bad to me. Great point! My father cannot afford to risk anything He has a son with $5M and he can't afford to take risk? Do you hate him or somethin...
by AirTimeMD
Wed Jul 24, 2019 10:49 am
Forum: Personal Investments
Topic: Have no problem managing my $5M portfolio - scared of my Dad's $120k
Replies: 45
Views: 3689

Re: Have no problem managing my $5M portfolio - scared of my Dad's $120k

My father cannot afford to risk anything He has a son with $5M and he can't afford to take risk? Do you hate him or something? As near as I can tell, you're the backstop here so he can actually take a lot of risk. This would be the kind of negative and unhelpful feedback I'd like to avoid. I love h...
by AirTimeMD
Wed Jul 24, 2019 10:45 am
Forum: Personal Investments
Topic: Have no problem managing my $5M portfolio - scared of my Dad's $120k
Replies: 45
Views: 3689

Re: Have no problem managing my $5M portfolio - scared of my Dad's $120k

RadAudit wrote:
Wed Jul 24, 2019 10:42 am
AirTimeMD wrote:
Wed Jul 24, 2019 10:35 am
My father cannot afford to risk anything
Could you please identify which risks he wishes to avoid.
He would prefer preservation and slow sustainable growth over 5-10% swings in total value over the next 5-10 years.
by AirTimeMD
Wed Jul 24, 2019 10:43 am
Forum: Personal Investments
Topic: Have no problem managing my $5M portfolio - scared of my Dad's $120k
Replies: 45
Views: 3689

Re: Have no problem managing my $5M portfolio - scared of my Dad's $120k

Hi Dru, You are right. I did not mean it as literal as I can tell it read for you (and others). My father does understand that any type of investment in any market has inherent risk. I think a better articulation on my part would be, "he cannot afford to take risks relative to his age of 69 years ol...
by AirTimeMD
Wed Jul 24, 2019 10:35 am
Forum: Personal Investments
Topic: Have no problem managing my $5M portfolio - scared of my Dad's $120k
Replies: 45
Views: 3689

Have no problem managing my $5M portfolio - scared of my Dad's $120k

Hi BH, My father is 69 years old and has never been a net saver. He had money problems based largely in an inability to limit his spending on material items throughout his 30-60s. He currently earns approximately $80k a year and will most likely have to work another 5+ years. The great news is that ...
by AirTimeMD
Sun Mar 24, 2019 11:23 pm
Forum: Personal Consumer Issues
Topic: I would like a boat. I also know nothing about boats
Replies: 147
Views: 10189

I would like a boat. I also know nothing about boats

I am accustomed to being (or thinking that I am) reasonably educated on most purchases that I make; however, I find myself in a situation where I will be purchasing a boat for the family. We purchased a home on a nice lake several years ago and have slowly renovated the backyard including the dock t...
by AirTimeMD
Thu Mar 14, 2019 3:14 pm
Forum: Personal Investments
Topic: How do I characterize an IRA from Roth to Traditional due to my mistake
Replies: 13
Views: 981

Re: How do I characterize an IRA from Roth to Traditional due to my mistake

Got it.

I'm struggling due to not knowing how to get it out of the Roth. I attempted to open a traditional IRA with VANGUARD for wife today and then tried to fund it by exchanging funds from the Roth to the Traditional but it would not allow me...
by AirTimeMD
Thu Mar 14, 2019 2:06 pm
Forum: Personal Investments
Topic: How do I characterize an IRA from Roth to Traditional due to my mistake
Replies: 13
Views: 981

Re: How do I characterize an IRA from Roth to Traditional due to my mistake

She does not.

I don't understand how backdoor Roth would apply currently as I contributed directly to her Roth in 2018 and 2019 without contributing to traditional and backdooring roth thru Vanguard?
by AirTimeMD
Thu Mar 14, 2019 1:39 pm
Forum: Personal Investments
Topic: How do I characterize an IRA from Roth to Traditional due to my mistake
Replies: 13
Views: 981

Re: How do I characterize an IRA from Roth to Traditional due to my mistake

Good afternoon All, I manage my wife's investments and instructed her to max out her IRA last year, which we put into Vanguard in a Roth IRA. I failed to realize that us becoming married in November of 2018 combined with my income would impact her ability to contribute to a Roth IRA. Needless to sa...
by AirTimeMD
Thu Mar 14, 2019 11:05 am
Forum: Personal Investments
Topic: How do I characterize an IRA from Roth to Traditional due to my mistake
Replies: 13
Views: 981

How do I characterize an IRA from Roth to Traditional due to my mistake

Good afternoon All, I manage my wife's investments and instructed her to max out her IRA last year, which we put into Vanguard in a Roth IRA. I failed to realize that us becoming married in November of 2018 combined with my income would impact her ability to contribute to a Roth IRA. Needless to say...
by AirTimeMD
Fri Nov 23, 2018 5:55 pm
Forum: Personal Consumer Issues
Topic: Awesome Amazon trick for 20% off
Replies: 8
Views: 4150

Awesome Amazon trick for 20% off

If you have a linked American Express card with Amazon.com: https://thepointsguy.com/deals/black-friday-amazon-save-20-percent-amex/ The information is broken down nicely at the link above. Essentially, you can apply "1" American Express dollar towards any purchase made by "Amazon.com" seller, and r...
by AirTimeMD
Wed Jul 11, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Dad asked for my help on pension decision that I do not understand
Replies: 43
Views: 3828

Re: Dad asked for my help on pension decision that I do not understand

Question- The paperwork never mentions Roth IRA but based on option 1, is he able to roll it over into a Traditional or Roth IRA? I've never performed a rollover into an IRA. All I know is that at 30 I max 5500 a year into my IRA. Does he just elect to rollover and provide information to an existing...
by AirTimeMD
Wed Jul 11, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Dad asked for my help on pension decision that I do not understand
Replies: 43
Views: 3828

Re: Dad asked for my help on pension decision that I do not understand

Hi All, I have read all responses and continue to let them soak in. I will update this thread when I speak with him tomorrow and follow up if their are more questions. I HAVE TO SAY - Thank you thank you thank you thank you. It's rare that I allow myself the vulnerability of admitting that I don't k...
by AirTimeMD
Tue Jul 10, 2018 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Dad asked for my help on pension decision that I do not understand
Replies: 43
Views: 3828

Dad asked for my help on pension decision that I do not understand

Good afternoon, Dad is 68 years old, earns approximately $70,000 and looks to me for most money management advice. Little does he know that I look to BH for my money management education and while I'm savvy with how to create a 3 fund portfolio and look for low expense ratio market index funds, I'm ...
by AirTimeMD
Mon Apr 30, 2018 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to help housekeeper - she says she cannot incorporate?
Replies: 21
Views: 1850

Re: Trying to help housekeeper - she says she cannot incorporate?

Asking my question from OP with clearer specificity- My housekeeper took social security early and tells me that she cannot earn more than $17k a year. If she incorporates into an S-Corp or an LLC, and earns $20k a year in income but writes off $3,000 in expenses - therefore showing a net income to ...
by AirTimeMD
Mon Apr 30, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to help housekeeper - she says she cannot incorporate?
Replies: 21
Views: 1850

Re: Trying to help housekeeper - she says she cannot incorporate?

Can I pay her $35,000 a year, but have her write off $18,000 a year in expenses (supplies, transportation, etc)? Not if she doesn't have $18k in expenses per year and it is hard to imagine how a housekeeper would. Sounds like you are letting the tax tail wag the employment dog. Also sounds like you...
by AirTimeMD
Mon Apr 30, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Trying to help housekeeper - she says she cannot incorporate?
Replies: 21
Views: 1850

Trying to help housekeeper - she says she cannot incorporate?

Hi BH, This is admittedly a thread that I a'm creating without knowing anything about anything. I have had a housekeeper working for me for just over 2 years. She earns $675 a week, cleans two days a week, and I pay her for the job rather than the hours. She has recently told me that she can only ea...
by AirTimeMD
Fri Apr 06, 2018 2:31 pm
Forum: Personal Investments
Topic: Tax Loss Harvesting
Replies: 3
Views: 548

Tax Loss Harvesting

At Vanguard, I have the following losers- VWUIX - Vanguard Intermediate-Term Tax-Exempt Fund Admiral Shares Short-term: -$2,665.10 Long-term: -$778.52 VBTLX - Vanguard Total Bond Market Index Fund Admiral Shares Short-term: $-1,485.71 Long-term: -$1,483.82 Any suggestions for best ways to TLH these ...
by AirTimeMD
Wed Apr 04, 2018 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: medical practice reimbursement issues
Replies: 35
Views: 3639

Re: medical practice reimbursement issues

OP, Would you mind sharing what specialty your friend is in? I disagree with a lot of the feedback in this thread so far. In Dermatology for instance, it is very common for practices to bring on Mohs surgeons at a rate of 40%-60% of their receipts/collections. It is also not uncommon at all for paym...
by AirTimeMD
Mon Jan 01, 2018 7:47 pm
Forum: Personal Investments
Topic: RMDs - Is it advantageous to take them earlier, later, or neither?
Replies: 2
Views: 535

RMDs - Is it advantageous to take them earlier, later, or neither?

Hello BH, I have an inherited IRA account that requires me to take an RMD. I am required to take out $12,400 this year. Assuming that I'm going to take the required amount, $12,400, and put it in a taxable account that holds the same investment(VFINX), is there any advantage in taking the RMD early ...
by AirTimeMD
Sun May 07, 2017 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4501
Views: 862216

Re: What's Your Credit Card Rewards Strategy?

Hello Bogleheads, I have about 200,000 points accrued on Chase Sapphire Reserve and 150,000 accrued on American Express Platinum. I know of sites such as thepointsguy.com and read the articles about how he takes lavish vacations using points. Is there a website you guys would direct me to for absolu...
by AirTimeMD
Thu Apr 27, 2017 10:32 pm
Forum: Personal Consumer Issues
Topic: Doctor bill question
Replies: 29
Views: 3132

Re: Doctor bill question

You should have been charged a 99xxx code. 99201-99204 as a new patient 99211 - 99214 as an established patient As many have said in this thread, the MD may bill as supervising thru the NP. The MD needs to sign-off on the treatment plan. There is also something called "incident-to" billing, where th...
by AirTimeMD
Sat Oct 29, 2016 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Coding Escrow on Mint.com
Replies: 3
Views: 870

Re: Coding Escrow on Mint.com

But don't you add the property as an asset with an appraised value that would capture the value for net worth?
by AirTimeMD
Sat Oct 29, 2016 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Coding Escrow on Mint.com
Replies: 3
Views: 870

Coding Escrow on Mint.com

Hello BH, I am purchasing a home. I put down a $10,000 escrow for the home. I use (and love) Mint.com to track/code transactions. Since the $10,000 is going from my account into another asset, it shouldn't be considered an expense- correct? Should I code it as a "Transfer"? How do you all approach t...
by AirTimeMD
Fri Aug 19, 2016 2:24 pm
Forum: Personal Investments
Topic: Best interest paying savings accounts?
Replies: 9
Views: 1852

Best interest paying savings accounts?

Hi BH,

What are you lads using for high interest saving accounts? Would like to hear about your experiences and ability to access the money, open and close accounts, etc.

Thank you.

ATD
by AirTimeMD
Thu Aug 04, 2016 10:48 am
Forum: Personal Investments
Topic: No faith in stocks/bonds - Where to park cash?
Replies: 38
Views: 5440

Re: No faith in stocks/bonds - Where to park cash?

As above, a longer CD. But note that anything that has a negative real return (after inflation) is not growth but shrinkage. If you are willing to lock up the money for ten years or more you can get a positive real rate of return buying TIPS. Why would you expect to have any more faith in either st...
by AirTimeMD
Thu Aug 04, 2016 10:03 am
Forum: Personal Investments
Topic: No faith in stocks/bonds - Where to park cash?
Replies: 38
Views: 5440

No faith in stocks/bonds - Where to park cash?

Hey BH, Currently have NW of about $3M. I have approximately $600,000 (sold a home) sitting in cash. I don't have any faith in the stock market or bond market over the next year or so. Do I have any options other than 6month/1 year CDs or high yield savings accounts? I'm looking for capital preserva...
by AirTimeMD
Thu Jul 21, 2016 4:29 pm
Forum: Personal Consumer Issues
Topic: Creating simple website
Replies: 11
Views: 1499

Re: Creating simple website

I am also very interested in this topic. I have been reading a lot of Gitomer books and would like to brand myself personally, aside from the business that I am involved with. I have limited knowledge of html and would like to find someone to help me build a website that is easily updated with life ...
by AirTimeMD
Thu Jul 21, 2016 12:39 am
Forum: Personal Consumer Issues
Topic: What kind of car do Bogleheads like to drive?
Replies: 168
Views: 19301

Re: What kind of car do Bogleheads like to drive?

2015 BMW M5.... Company car.

1994 Mitsubishi VR-4 - fun car
Acura MDX - Fiancee car
by AirTimeMD
Tue Jul 12, 2016 4:24 pm
Forum: Personal Consumer Issues
Topic: Best air card for the money
Replies: 0
Views: 1502

Best air card for the money

Hello BH, I was recently visiting our WC office and our Wifi went out. One of our EEs brought me a Verizon MiFi4510L to use. I was very impressed at being able to get work done when the wifi was down and see tremendous value to me by purchasing one of these devices for travel. Are there any 'techies...
by AirTimeMD
Sat Jun 25, 2016 9:56 am
Forum: Personal Investments
Topic: Backdoor conversion through vanguard - how?
Replies: 7
Views: 1034

Re: Backdoor conversion through vanguard - how?

Thank you for your reply. So..... If I had $50k in my tIRA, contributed $5500 for 2016 and backdoor roth $5500 the next day/week from tIRA to Backdoor, I have to pay on the $50k that was already in my tIRA? This causes me to think I'm not a good candidate to ever contribute to tIRA and backdoor, eve...
by AirTimeMD
Fri Jun 24, 2016 11:18 pm
Forum: Personal Investments
Topic: Backdoor conversion through vanguard - how?
Replies: 7
Views: 1034

Backdoor conversion through vanguard - how?

Hello BH, I picked Thursday to make my traditional IRA lumpsum contribution for my 2016 IRA. I exceed the income limit to place money in Roth. I put $2600 in Vanguard 500, $1450 in mid and small caps. I want to do the conversion on Monday to Roth. I went to execute this through vanguard. It told me ...
by AirTimeMD
Fri May 20, 2016 1:11 pm
Forum: Personal Consumer Issues
Topic: Officer of company - can I invoice company as well from my S-corp?
Replies: 7
Views: 615

Re: Officer of company - can I invoice company as well from my S-corp?

I don't see anything wrong with this on the face of it, as long as his employer is willing to go along with it. If I were the employer or on the board, however, I would not approve of the arrangement as I would want all services to be provided by the executive as an employee. There should be a cont...
by AirTimeMD
Fri May 20, 2016 12:56 pm
Forum: Personal Consumer Issues
Topic: Officer of company - can I invoice company as well from my S-corp?
Replies: 7
Views: 615

Re: Officer of company - can I invoice company as well from my S-corp?

Did I post this in the wrong section or is it just a lame topic?
by AirTimeMD
Fri May 20, 2016 10:49 am
Forum: Personal Consumer Issues
Topic: Officer of company - can I invoice company as well from my S-corp?
Replies: 7
Views: 615

Officer of company - can I invoice company as well from my S-corp?

Hello BH, I had a question come to me from a friend of mine that I wasn't sure how to answer... This guy is part of the C-suite at a small business and earns about 120,000 a year. He was recently told that he would be receiving a $10k raise on July 1. He has his own S-Corp that houses 3 rental real ...
by AirTimeMD
Thu May 19, 2016 10:57 am
Forum: Personal Investments
Topic: Conservative friend getting out of muni/CDs for what?
Replies: 13
Views: 1134

Re: Conservative friend getting out of muni/CDs for what?

So,

Is it incorrect to think if there is 3% interest rate and rates rise .5%, then .5 / 3 = 16.667 and the price will change by the amount in the opposite direction?
by AirTimeMD
Thu May 19, 2016 10:41 am
Forum: Personal Investments
Topic: Conservative friend getting out of muni/CDs for what?
Replies: 13
Views: 1134

Conservative friend getting out of muni/CDs for what?

Hello BH, Conservative friend, age 60. Has $3.5M total right now: $1.5M in 3% CDs $1M in Muni Bonds $1M in recently sold muni bonds sitting in cash The person is set for life already but enjoys "the game" of accumulating. She is telling me that recently the price of her muni bonds hit an all time hi...
by AirTimeMD
Wed May 11, 2016 10:52 pm
Forum: Personal Consumer Issues
Topic: Renting in Maui
Replies: 22
Views: 4860

Re: Renting in Maui

This is exciting to read. I am traveling to Maui for the first time in my life in June. I'll fly into the big island on June 3rd and attend a conference from June 6th until June 9th. Then catch a flight to Maui and stay at the Four Seasons (never splurged on a hotel before in my life, other than sta...
by AirTimeMD
Wed May 11, 2016 10:52 pm
Forum: Personal Consumer Issues
Topic: Renting in Maui
Replies: 22
Views: 4860

Re: Renting in Maui

This is exciting to read. I am traveling to Maui for the first time in my life in June. I'll fly into the big island on June 3rd and attend a conference from June 6th until June 9th. Then catch a flight to Maui and stay at the Four Seasons (never splurged on a hotel before in my life, other than sta...
by AirTimeMD
Fri May 06, 2016 9:53 pm
Forum: Personal Consumer Issues
Topic: Home office furniture
Replies: 20
Views: 3457

Re: Home office furniture

Can you guys recommend sources for OFFICE furniture for the away from home office? I never know where to find a nice executive desk.
by AirTimeMD
Thu May 05, 2016 10:09 am
Forum: Personal Consumer Issues
Topic: What to buy my sig other from the DOG for Mothers Day
Replies: 16
Views: 2448

What to buy my sig other from the DOG for Mothers Day

Okay, Okay...

This is purely a fun post.

My significant other - soon to be fiance - and I have a German Shepherd. What is a nice gift that I could purchase for this Mother's Day from our 'child', the dog? :)

Thanks,

ATD
by AirTimeMD
Tue Mar 15, 2016 11:52 pm
Forum: Personal Consumer Issues
Topic: Where to retire in Florida?
Replies: 165
Views: 31815

Re: Where to retire in Florida?

I-4 makes I-95 look like a well behaved cute puppy dog.
by AirTimeMD
Sun Mar 13, 2016 1:32 am
Forum: Personal Investments
Topic: Confirm that I'm doing Backdoor IRA correct
Replies: 3
Views: 604

Re: Confirm that I'm doing Backdoor IRA correct

If the $5500 contributions for 2015 and 2016 are non-deductible, you will have IRA basis of $11,000. This also assumes that the contributions for prior tax years were pre-tax. Do you have a workplace retirement plan that would accept an inbound rollover from IRA? If yes, you may be able to isolate ...
by AirTimeMD
Sun Mar 13, 2016 1:04 am
Forum: Personal Investments
Topic: 25 year old...what to do next?
Replies: 14
Views: 2269

Re: 25 year old...what to do next?

I'd love to know more about the checking account also OP.
by AirTimeMD
Sat Mar 12, 2016 2:02 am
Forum: Personal Investments
Topic: Confirm that I'm doing Backdoor IRA correct
Replies: 3
Views: 604

Confirm that I'm doing Backdoor IRA correct

Current tIRA: $48,000 Put $5500 into it last year while making too much money to deduct the $5500. I then learned from the good people here about Backdoor Roth. So, for 2016, I'll be putting $5500 into a traditional IRA and converting to Roth via Backdoor. Therefore, is the answer that: 1(1,000 / 48...