Search found 118 matches

by HeadSpinning
Sun Feb 02, 2020 11:52 pm
Forum: Personal Investments
Topic: HSA & Roth for a 25yrs old Full-Time Student
Replies: 5
Views: 407

Re: HSA & Roth for a 25yrs old Full-Time Student

If a 25yrs old has $4000 earned income in 2019 and they are covered under their parents HDHP, can they contribute $4000 to their own HSA and $4000 to their Roth IRA? Or does the $4000 need to be split between the Roth and HSA? $7000 to their own HSA because they are covered under a family plan (and...
by HeadSpinning
Sun Feb 02, 2020 3:26 pm
Forum: Personal Investments
Topic: HSA & Roth for a 25yrs old Full-Time Student
Replies: 5
Views: 407

HSA & Roth for a 25yrs old Full-Time Student

If a 25yrs old has $4000 earned income in 2019 and they are covered under their parents HDHP, can they contribute $4000 to their own HSA and $4000 to their Roth IRA? Or does the $4000 need to be split between the Roth and HSA? And if they turn 26 in May 2020 (and stop being covered under the parents...
by HeadSpinning
Tue Apr 10, 2018 12:57 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Re: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?

Thank you everyone for your help. Just to complicate matters, the young person had no income in 2017, so no Roth contribution possible until possibly next year. But, now we know what needs to be done to correct the issue and will fill out Form 5329 for 2016. I am unclear though if they would still h...
by HeadSpinning
Wed Apr 04, 2018 2:12 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Form 5329 HELP (Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?)

So, from what I understand, there should've been a Form 5329 filed with the 2016 return. Since there wasn't one, does that mean that they will need to amend their return to include the form? And then also include Form 5329 with the 2017 return? I offered to help the young person, but now I am worrie...
by HeadSpinning
Tue Apr 03, 2018 1:12 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Re: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?

inittowinit wrote:
Tue Apr 03, 2018 1:09 am
Can't you just file an amended return with the additional $1 on line 12?
Oh, I guess if a 2016 amended return is required, that would be a little less complicated to do than involving Form 5329.
by HeadSpinning
Tue Apr 03, 2018 1:10 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Re: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?

I think your solution is Form 5329. https://www.taxact.com/support/1280/201 ... tributions I think you will pay an excise tax of 6 cents on the $1 and then be allowed to count that $1 as part of your 2017 Roth IRA contribution. Since the 6 cents can be rounded down to $0, maybe you don't actually h...
by HeadSpinning
Tue Apr 03, 2018 1:05 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Re: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?

Show $1 of income on line 12. You earned that $1 of income sometime during the year....don't you remember? :D You may not even have to file a schedule C if the amount is that small. That $1 avoids any headaches with the Roth contribution. I would not suggest this solution for a much larger amount, ...
by HeadSpinning
Mon Apr 02, 2018 2:07 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Re: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?

Yes, W-2 box 1 is $5499 and the Roth contribution was $5500.
by HeadSpinning
Mon Apr 02, 2018 12:53 am
Forum: Personal Investments
Topic: Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?
Replies: 17
Views: 3355

Roth contribution $5500, Taxable compensation $5499 for 2016. How to fix?

What is the correct way to fix this $1 overcontribution for 2016 while doing the 2017 taxes? There was no Roth contribution for 2017 yet. TIA
by HeadSpinning
Tue Feb 13, 2018 3:09 pm
Forum: Personal Investments
Topic: Add to Non-Deductible IRA, Then Convert to Roth
Replies: 5
Views: 592

Re: Add to Non-Deductible IRA, Then Convert to Roth

I believe you missed the fact that you have a Simple IRA, so there will be taxes involved in your conversion due to the pro-rata rule?
by HeadSpinning
Sat Apr 01, 2017 3:30 pm
Forum: Personal Investments
Topic: Need new eyes on my portfolio please
Replies: 4
Views: 891

Re: Need new eyes on my portfolio please

I am way behind in reading this board, trying to catch up after vacation and I thought I could bring this post to the front. You might get more advice and meanwhile I would give you my take on your portfolio. In your place, I would not mix the target retirement date fund with the other funds in your...
by HeadSpinning
Sun Mar 05, 2017 9:33 pm
Forum: Personal Investments
Topic: Contributed to Roth in error
Replies: 6
Views: 859

Re: Contributed to Roth in error

Yes, you need to contact Vanguard and have your Roth contribution recharacterized to traditional IRA. They will calculate the corresponding earnings that will be re-characterized as well. We just had this done recently, but at Fidelity. Very quick, straight-forward process. We waited to do our taxes...
by HeadSpinning
Sun Dec 18, 2016 6:26 pm
Forum: Personal Investments
Topic: Unclear on Solo 401k for very small income
Replies: 4
Views: 569

Unclear on Solo 401k for very small income

This year I have opened a Fidelity Solo 401k, hoping to contribute the very small amount I have made through the year selling things on Craigslist, etc. Do I need to make a contribution before December 31st? I was going to wait until we do taxes next year, so I know the correct amount for the 'emplo...
by HeadSpinning
Sat Dec 17, 2016 5:48 pm
Forum: Personal Investments
Topic: The Three-Fund Portfolio [Portfolio help]
Replies: 10
Views: 2297

Re: The Three-Fund Portfolio [Portfolio help]

I would suggest that you at least consider determining your AA breakdowns with the TSP account included. Many pots of money working in tandem to achieve your overall investment goals. That being said, TSP has specialty issued US Govt bonds that guarantee no loss of capital and, as such, are perhaps...
by HeadSpinning
Fri Dec 16, 2016 4:35 pm
Forum: Personal Investments
Topic: End Of Year Investing Guidance Young Couple
Replies: 7
Views: 1337

Re: End Of Year Investing Guidance Young Couple

As I look into this further I don't believe I am able to do a backdoor Roth with my wifes old work 401k plan. Their rules, seen here https://workplaceservices300.fidelity.com/mybenefits/DigitalLibrary/DCL/CMA/UploadedFiles/Starbucks_21053_SPD_093016_TAR_12824.pdf make it seem like I cannot do this....
by HeadSpinning
Mon Dec 05, 2016 6:17 pm
Forum: Personal Investments
Topic: Edward Jones to Vanguard - about to make the move
Replies: 46
Views: 6867

Re: Edward Jones to Vanguard - about to make the move

Instead of Vanguard, I am considering moving the Roth to Fidelity (since that is where my 401k is) and splitting: 80% FSTVX Total market index 20% FTBFX Total Bond Add FTIPX when I have saved the $10,000 minimum, and then split 70/20/10. I appreciate everyone's input greatly! The Total Bond Index f...
by HeadSpinning
Mon Nov 28, 2016 5:39 pm
Forum: Personal Investments
Topic: Rebalancing / Tax Loss Harvesting Assistance
Replies: 16
Views: 2088

Re: Rebalancing / Tax Loss Harvesting Assistance

livesoft wrote:
As for FSIVX to replace FSGDX, I think that's OK, but I might also suggest that newish Fidelity international index fund. Fidelity is not good with publishing their index funds, so I don't know the ticker off the top of my head.
It's FTIPX
by HeadSpinning
Sun Oct 09, 2016 7:01 pm
Forum: Personal Investments
Topic: Advice on Portfolio
Replies: 13
Views: 1584

Re: Advice on Portfolio

+1 to ruralavalon suggested portfolio, with a slight modification. I would use FTIPX instead of FSGDX for the international portion. It is a more complete fund.
by HeadSpinning
Mon Jul 11, 2016 12:32 am
Forum: Personal Investments
Topic: Please help me move from Fidelity Managed to Index funds.
Replies: 3
Views: 894

Re: Please help me move from Fidelity Managed to Index funds.

I'll take a stab at this. Your total portfolio is (100%)$550,000 split as follows: 64% in His 403b 2.5% in His Roth 14.5% in His TIAA 7.5% in His Alaska ORP 2.5% in Her Roth 9% in Her tIRA Your desired AA is 65/35 with 20% of your equities in international. That comes to 52% Domestic Stock, 13% Inte...
by HeadSpinning
Sun Jul 10, 2016 9:31 pm
Forum: Personal Investments
Topic: Backdoor IRA for non-working spouse
Replies: 7
Views: 1270

Re: Backdoor IRA for non-working spouse

You might want to look into a solo 401k for your wife opened at Fidelity which will allow her to rollover her tIRA and get it out of the way. If she can make any money on the side that will be declared on your income taxes (even a few hundred selling things on craigslist for example), she can open a...
by HeadSpinning
Sat Jun 11, 2016 6:28 pm
Forum: Personal Investments
Topic: New Boglehead: Recreating Target Retirement Fund w/ Admiral Shares
Replies: 15
Views: 4090

Re: New Boglehead: Recreating Target Retirement Fund w/ Admiral Shares

(2) Once I set up my individual 401k is there are advantage to combining the individual 401k with my existing IRA? If by combining you mean transfer your Rollover account into your solo401k, then yes, the advantage would be you could now contribute to a Backdoor Roth. This is something you might wa...
by HeadSpinning
Tue May 17, 2016 7:01 pm
Forum: Personal Investments
Topic: Beyond Retirement. Where to put extra cash?
Replies: 6
Views: 1793

Re: Beyond Retirement. Where to put extra cash?

I would choose investing in the 401k before putting more money in taxable. You really should consider posting following the recommended format to see the whole picture, instead of asking all these questions that focus on only one part of your portfolio. What other funds are available in the 401k? I ...
by HeadSpinning
Tue May 17, 2016 6:48 pm
Forum: Personal Investments
Topic: 18 year College Bound Roth IRA advice
Replies: 11
Views: 1164

Re: 18 year College Bound Roth IRA advice

You won't be able to open new accounts with your parents as custodians, as you are over 18 yrs, and you do not need to if you were worried about FAFSA. My Daughter had a Roth since she was 16 and it did not interfere. She had it transferred to Vanguard once she turned 18, started the process online,...
by HeadSpinning
Tue May 17, 2016 3:59 pm
Forum: Personal Investments
Topic: Investment Progress Check after close to 1 year
Replies: 12
Views: 2750

Re: Investment Progress Check after close to 1 year

Hello HeadSpinning, Thank you so much for your input. The answers to your questions below. Your question at the beginning about the 132k - you are correct. I didn't include the 10k yet, so with that, it comes to 132k. 1. How much is the interest on your student loans? 2.5%. Monthly payments - $163....
by HeadSpinning
Sat Apr 30, 2016 10:51 pm
Forum: Personal Investments
Topic: 2 options of 401k/403b.
Replies: 14
Views: 1131

Re: 2 options of 401k/403b.

Consider posting everything using the recommended format in the Asking Portfolio Questions thread: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=6212 You will get more suggestions tailored to your specific situation. Is the Job 1 the one with the better choice funds? I think you have missed s...
by HeadSpinning
Sat Apr 30, 2016 10:39 pm
Forum: Personal Investments
Topic: Age 29 & married, pls help w/ overall portfolio
Replies: 9
Views: 2123

Re: Age 29 & married, pls help w/ overall portfolio

1) Would you say that our asset allocation of 80% stocks and 20% bonds is OK for our age of 28/29 yrs old? 2) Should I choose any new funds? 3) Should I rebalance? 4) Any other suggestions? 1) Yes, it is within the acceptable bounds if you can stick with it. 4) I would consider all your/your wife's...
by HeadSpinning
Sat Apr 30, 2016 4:05 pm
Forum: Personal Investments
Topic: New to Indexing - Need Portfolio Help!
Replies: 2
Views: 637

Re: New to Indexing - Need Portfolio Help!

There's enough room in your 401k for all of your bond allocation and some stock index funds. You can put your international allocation in the Roth along with Total Stock Market. Balance between stocks and bonds in 401k and between domestic/international in Roth.
by HeadSpinning
Sat Apr 30, 2016 3:59 pm
Forum: Personal Investments
Topic: Please Help: Have Advisor, Would Rather Have Gains
Replies: 19
Views: 3001

Re: Please Help: Have Advisor, Would Rather Have Gains

So, what's the best place for a pile of cash?
I would consider maxing out I bonds and maybe EE bonds too each year, in order to minimize the amount of bonds you need to keep in taxable. After one year, your I-bonds can double up as emergency fund as well.
by HeadSpinning
Fri Apr 29, 2016 7:41 pm
Forum: Personal Investments
Topic: Investment Progress Check after close to 1 year
Replies: 12
Views: 2750

Re: Investment Progress Check after close to 1 year

Let me see if I can clean this up a little for easier reading. Note: Your percentages should add to 100% over all of your accounts, not in each individual account, so I am changing those (please double check for accuracy). To make sure I use the correct numbers, your total retirement portfolio is Ta...
by HeadSpinning
Wed Apr 27, 2016 7:21 pm
Forum: Personal Investments
Topic: HELP - need advisor-leaving advice quick...
Replies: 20
Views: 2167

Re: HELP - need advisor-leaving advice quick...

I'm assuming there are no tax considerations for selling/buying funds in the SEP account. In that case, I would just sell the lot and start from scratch, in your place. First step, though, will be coming up with your desired asset allocation. Once you have your AA, you can go ahead and sell everythi...
by HeadSpinning
Wed Apr 27, 2016 7:09 pm
Forum: Personal Investments
Topic: portfolio review and bond allocation question
Replies: 7
Views: 1130

Re: portfolio review and bond allocation question

Your portfolio looks great. I don't really understand your question about bonds/fixed income. Are you saying that you are changing your AA, so it will be more than 20% bonds? Or are you asking if the guaranteed fund in the 457 could be your only bond allocation? If so, what other funds are available...
by HeadSpinning
Mon Apr 25, 2016 4:33 pm
Forum: Personal Investments
Topic: Investment Progress Check after close to 1 year
Replies: 12
Views: 2750

Re: Investment Progress Check after close to 1 year

Not enough information. Consider posting in the recommended format here: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=6212 We need to know your desired asset allocation before making any suggestions. Your tax rate needs to be taken into account as well. I have the same question as triceratop...
by HeadSpinning
Sun Apr 24, 2016 5:12 pm
Forum: Personal Investments
Topic: Sell ibonds? Or hold?
Replies: 22
Views: 4297

Re: Sell ibonds? Or hold?

Everyone needs liquid savings and an emergency fund. Those I-Bonds get better interest than what you could get at the bank without tying up the money in CDs. Since they are over a year old, they are 100% liquid. I would be inclined to hold them. +1 If you already have a separate emergency fund, you...
by HeadSpinning
Wed Apr 20, 2016 12:59 am
Forum: Personal Investments
Topic: portfolio review please
Replies: 5
Views: 930

Re: portfolio review please

Desired Asset allocation: 80% stocks / 20% bonds Desired International allocation: 10% of stocks (Not sure if this is ideal for my age. I can stomach risk and I’m in it for the long haul.) 80%/20% could be the right allocation for your age, providing you won't panic and sell in a downturn. 10% inte...
by HeadSpinning
Sun Apr 17, 2016 5:51 pm
Forum: Personal Investments
Topic: roth versus traditional IRA this year
Replies: 5
Views: 900

Re: roth versus traditional IRA this year

THanks everybody. That is what I was thinking...just wanted to make sure. thanks Although, based on your other post, if you are planning to open a SEP IRA for 2015 anyway, you might as well go with a deductible Traditional IRA and then have them both moved into your new solo 401k to clear the way f...
by HeadSpinning
Fri Apr 15, 2016 2:55 pm
Forum: Personal Investments
Topic: Vanguard vs Other Solo 401K
Replies: 11
Views: 2352

Re: Vanguard vs Other Solo 401K

It seems like neither Vanguard or Schwab will allow me to rollover an old employer 401K into an individual 401K. Does Fidelity allow this?
Yes, Fidelity solo 401k accepts incoming rollovers.
by HeadSpinning
Thu Apr 14, 2016 1:08 am
Forum: Personal Investments
Topic: Too late to open and fund a roth for 2015?
Replies: 21
Views: 1882

Re: Too late to open and fund a roth for 2015?

We have opened a Roth acct at Fidelity online in just a few minutes. I don't remember needing to wait any extra for linking the bank account either. So, I think you have plenty of time to do it. Once your accounts are linked, you can just transfer the contribution amount from your bank account and i...
by HeadSpinning
Sun Apr 10, 2016 6:17 pm
Forum: Personal Investments
Topic: Questions Re: Consolidating Traditional/Roth IRA's
Replies: 1
Views: 404

Re: Questions Re: Consolidating Traditional/Roth IRA's

Two questions: (1) can Vanguard accomplish what I am asking and (2) besides the special bankruptcy protection that is afforded to 401k assets, are there any other concerns with me making these changes to simplify our finances. Thank your for your help! 1. Yes, you can combine the two TIRAs into one...
by HeadSpinning
Sat Apr 09, 2016 8:00 pm
Forum: Personal Investments
Topic: Vanguard Brokerage Account Question
Replies: 2
Views: 494

Re: Vanguard Brokerage Account Question

I don't have an answer for your second question, but you are right, there are no tax implications for selling a fund in your Roth account.
by HeadSpinning
Mon Apr 04, 2016 6:25 pm
Forum: Personal Investments
Topic: Newbie needs help with asset allocation.
Replies: 7
Views: 755

Re: Newbie needs help with asset allocation.

I already did my tax return and I was not eligible for 2015 contribution. Yes, I have an extra 30K coming on top of what i have currently. I am in the process of moving them from Capital 360 to Vanguard :-). I am very slow in taking in all of new information. :? Do you think you would be eligible t...
by HeadSpinning
Mon Apr 04, 2016 1:48 pm
Forum: Personal Investments
Topic: First time investor, portfolio question
Replies: 7
Views: 766

Re: First time investor, portfolio question

I looked at Roth IRA and according to this http://www.rothira.com/roth-ira-eligibility there's an income limit of $116k-$131k. I was barely below that limit for 2015 (this is referring to total gross income not net income or base salary, right?) but likely won't be anymore in the future. So that me...
by HeadSpinning
Mon Apr 04, 2016 1:09 am
Forum: Personal Investments
Topic: Portforlio help please
Replies: 11
Views: 1508

Re: Portforlio help please

To be honest, I don't know much about bonds either, but from the information you have posted, the bond fund in your 401k sounds like a solid choice. Both it, and the FSITX follow the Barclays Capital U.S. Aggregate Bond Index. If I had to choose, I think I will pick the bond in the 401k purely based...
by HeadSpinning
Mon Apr 04, 2016 1:04 am
Forum: Personal Investments
Topic: All in one or 3 fund in His 401k?
Replies: 4
Views: 592

Re: All in one or 3 fund in His 401k?

If I had to make that choice right now, I think I would go with the all-in-one fund. If it is making you uncomfortable because of the stocks %, would the 2030 fund be closer to your desired AA?
by HeadSpinning
Mon Apr 04, 2016 12:57 am
Forum: Personal Investments
Topic: First time investor, portfolio question
Replies: 7
Views: 766

Re: First time investor, portfolio question

I would consider opening a Roth IRA and even contribute the max for 2015 (you have until April 18th). The reason is, you can withdraw your contribution at any time tax and penalty-free. So, if you do end up leaving the country you can get the money out of the account. You will need to leave the earn...
by HeadSpinning
Mon Apr 04, 2016 12:42 am
Forum: Personal Investments
Topic: Portfolio Help Please
Replies: 15
Views: 1725

Re: Portfolio Help Please

4. I was honestly just thinking of keeping both of our roth IRAs in the Vanguard Target Retirement 2045 Fund Investor Shares (VTIVX). I know it is more expensive than doing a 4 fund portfolio myself, but it seems easier. But since I can’t get this fund in my 403b, it makes asset allocation more cha...
by HeadSpinning
Sun Apr 03, 2016 9:13 pm
Forum: Personal Investments
Topic: Backdoor Roth IRA without Prorate tax for Rollover IRA
Replies: 2
Views: 450

Re: Backdoor Roth IRA without Prorate tax for Rollover IRA

As long as the balance in all your traditional, Rollover, SEP, Simple IRAs will be $0 on December 31st, 2016, you can go ahead and do the backdoor Roth this year.
by HeadSpinning
Sun Apr 03, 2016 9:10 pm
Forum: Personal Investments
Topic: First time investor, portfolio question
Replies: 7
Views: 766

Re: Firs time investor, portfolio question

Did you open a Roth IRA at Vanguard or another taxable account? You need to decided how much of your cash you should set aside for your emergency fund and do not count that as part of your portfolio. You also have to figure out how much would be your retirement portfolio and how much you want to sav...
by HeadSpinning
Sun Apr 03, 2016 8:56 pm
Forum: Personal Investments
Topic: Newbie needs help with asset allocation.
Replies: 7
Views: 755

Re: Newbie needs help with asset allocation.

Have you contributed the max to your Roth for 2015? If you didn't, it's not too late to add to it. Then contribute $5500 towards 2016 contribution. If you have already maxed your 2015 contribution, you won't have enough for Admiral shares ($9,900 instead of $10,000), but you can get investor shares ...
by HeadSpinning
Sun Apr 03, 2016 8:11 pm
Forum: Personal Investments
Topic: Portforlio help please
Replies: 11
Views: 1508

Re: Portforlio help please

Also, I am not opposed to using Vanguard funds. If I understand correctly, it will cost me $75 to purchase Vanguard funds at Fidelity. I don't see this as a deal breaker since I intend to hold for quite some time. Although, I suppose paying those fees could make rebalancing expensive. I wouldn't do...
by HeadSpinning
Sun Apr 03, 2016 7:50 pm
Forum: Personal Investments
Topic: New Boglehead needing portfolio advice! Appreciate your help!
Replies: 9
Views: 1193

Re: Assessment of my investment thesis/plan

Welcome coolmax! I'll give your post a bump in hopes that someone more knowledgeable will comment. Meanwhile, you should edit your first post to add the available funds in your 401k along with their expense ratio. That way, people can make suggestions on specific changes to your portfolio to get you...