Search found 176 matches

by jamacq
Mon Jan 22, 2024 2:56 pm
Forum: US Chapters
Topic: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂
Replies: 429
Views: 41946

Re: 🎁 🎉Happy 100th Birthday to Taylor Larimore 🎊🎂

Happy Birthday Taylor. You've been a great help to so many people.
by jamacq
Sun Dec 03, 2023 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA v. individual 401(k)
Replies: 16
Views: 1461

Re: SEP-IRA v. individual 401(k)

Thank you for clarification. That makes sense regarding employer contribution regardless whether SEP or solo 401k. The person I spoke to at Vanguard was not aware of that.
by jamacq
Sun Dec 03, 2023 7:33 am
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA v. individual 401(k)
Replies: 16
Views: 1461

Re: SEP-IRA v. individual 401(k)

It's been awhile since I looked at this, but I think it is prohibited to contribute to both a SEP IRA and an individual 401k in the same tax year; might even be some kind of wait period between the two. I was referring to an employer-sponsored 401(k) plan (not a solo 401(k)). According to this IRS site (https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-one-retirement-plan), it appears that SEP is not included in aggregate against the max IRS limit for all contributions. While that site doesn't specifically mention SEP (it does include SARSEP which is different), it mentions that 457 for example is not included. To your specific point, this IRS site states that you can do both an individual 4...
by jamacq
Sat Dec 02, 2023 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA v. individual 401(k)
Replies: 16
Views: 1461

Re: SEP-IRA v. individual 401(k)

Lee_WSP wrote: Sat Nov 25, 2023 7:20 pm I can’t think of a reason she should go with the SEP A other than an extreme aversion to filing a 5500.
Edit: several kind folks corrected my error and so i have updated this reaponse.



My original response stated that a possible reason to go with a SEP is if you have already maxed out a 401k with another employer in the same year. I'm in this situation and so a solo 401k would not work this year. However, a SEP IRA allows the employer contribution and is not limited by other 401k employer contributions.

Found that this is incorrect. Employer contributions within either a solo 401k or SEP are permitted in the above situation as long as the additional employer contribution is a different employer.
by jamacq
Fri Jun 18, 2021 6:19 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2022!
Replies: 393
Views: 71238

Re: Roll Call for the Retirement Class of 2022!

I'm not sure if I qualify again. I was in the Class of 2020 and retired from my fulltime employment on Jan 16, 2020. Both my wife and I did it the same day. However, we both ended up with opportunities to stay on part time with our original employers and with restricted travel we took up the offer.

Full retirement is now Jan 6, 2022.

I do have to say that significantly reducing hours and enjoying more time together has been a great blessing and I am even more excited to look forward to even more.

Jeff
by jamacq
Sat Mar 07, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: 30 year mortgage under 3%
Replies: 301
Views: 54015

Re: 30 year mortgage under 3%

seawolf21 wrote: Sat Mar 07, 2020 10:32 am


The upper right corner of the loan estimate will confirm whether the rate is locked and until when. If lender have not provided loan estimate then consider any indication that you are locked with a grain of salt.
Thanks. I may need to move on then. I applied on 3/3 and got their automated acceptance but no further communication from them after I loaded my docs. Left message and no reply. Lenderfi appears to be overwhelmed with applications. May jump to NFCU at this point. NFCU has more fees with their 1% loan origination fee but lower rate than Lenderfi at this point.
by jamacq
Sat Mar 07, 2020 10:16 am
Forum: Personal Finance (Not Investing)
Topic: 30 year mortgage under 3%
Replies: 301
Views: 54015

Re: 30 year mortgage under 3%

Lenderfi back up to 3.25% for a no cost refi as of tonight. I've seen it sitting at 3.125 the last few days. Waiting and watching. Thats my experience as well. Too bad I didnt bite the bullet yesterday morning. Does anyone know how Lenderfi rates work? I completed my application at 3% with a 3.004%APR ($18 lender fee). I got a loan doc that states the rate but no further feedback so far from Lenderfi (since last Tuesday). I'm guessing they are quite swamped with applications. What I don't know is whether i am locked at this rate (I hope so). Their website indicates that their rates are good for 30 days and expect that loans are processed within that period. For those wondering, it is not a jumbo. LTV is about 55% and credit score is ~800.
by jamacq
Sat Jan 04, 2020 6:29 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 318
Views: 70867

Re: Roll Call for the Retirement Class of 2020!

2020 is here. We made it! Congratulations to all of the 2020 Class!

As per plan my wife and I are both "retiring" on Jan 16 (9 work days left). The retiring is in quotes because we both got nice offers to stay part time at our respective employers. We already have travel plans for January, February and June. I feel very blessed. I made it here with a wife and friend that I adore and we both have our health.

Jeff
by jamacq
Sat May 18, 2019 2:03 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 433
Views: 94325

Re: Roll Call for the Retirement Class of 2019!

Unfortunately, I have to report that my date has moved out by 6 months which will put me into the class of 2020.

I was given a new position and agreed to stay in it for a few more months to help solve some problems. Please change me from July 4, 2019 to Jan 16, 2020. Both my wife and I are retiring on the same date and already have some travel plans. Since you are collecting age stats, I will be 61.5 on my retirement date.

Jeff
by jamacq
Mon Feb 11, 2019 5:38 pm
Forum: Personal Consumer Issues
Topic: Copenhagen/Stockholm/Oslo in May/June
Replies: 28
Views: 2821

Re: Copenhagen/Stockholm/Oslo in May/June

Very surprised to see the negative comments on Copenhagen. I've traveled much of the world and Copenhagen is my favorite city. The city of spires has so much beauty at every turn and so much to walk about and see. Nyhavn is always a treat. Walk the city or rent a bike and tour around the entire city. Take a canal ride, walk to the mermaid...the sites along the walk are interesting. Walk up the outside spiral steps of the Church of our Saviour. Look for the twisting dragon tails of the Stock Exchange.

I generally hate cities...prefer the countryside, but Copenhagen is a treat. I've been there three times and it will always be on my list to return.

Jeff
by jamacq
Wed Sep 26, 2018 6:38 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 433
Views: 94325

Re: Roll Call for the Retirement Class of 2019!

Have been looking for a firm target date. Had been looking for an end of pay period in July or August and have settled on the perfect date. July 4, 2019 is the end of a pay period and what could be more appropriate than Independence Day?

Jeff
by jamacq
Sun May 13, 2018 4:34 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 433
Views: 94325

Re: Roll Call for the Retirement Class of 2019!

Planning for ~June 2019 after 23 years in the Navy and another 18 in the defense contracting world. Ready for more adventure. jamacq - Welcome to this Great Class, we'll add you to the list :happy You will probably take the award as the Most Senior Boglehead of the class, since you joined the Boglehead.org forum on March 4, 2007, barely 3 weeks after it began on February 19, 2007 :D That's 11 years ago - your retirement portfolio must be awesome :beer Wait a minute - you're retiring from "the Navy" - and the "defense contracting world" - and you're "ready for more adventure"? :shock: How about trying this first? https://img.etsystatic.com/il/900d11/1168563593/il_340x270.1168563593_k7ve.jpg?version=0 Hard to be...
by jamacq
Sat May 12, 2018 12:26 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 433
Views: 94325

Re: Roll Call for the Retirement Class of 2019!

Planning for ~June 2019 after 23 years in the Navy and another 18 in the defense contracting world. Ready for more adventure.
by jamacq
Wed Aug 23, 2017 6:06 pm
Forum: Personal Consumer Issues
Topic: Eclipse viewing
Replies: 61
Views: 8408

Re: Eclipse viewing

I've been an avid amateur astronomer for a very long time. Up until this week, I had never seen a total eclipse (only partials). I prepared, made the trip to South Carolina and was able to take some photographs through a small telescope. Here is one that I took from Cross Hill, SC.

http://astroimages.org/eclipse/Eclipse20170821631.JPG

Jeff
by jamacq
Wed Jan 04, 2017 6:02 pm
Forum: Investing - Theory, News & General
Topic: madsinger monthly report (December 2016)
Replies: 13
Views: 3661

Re: madsinger monthly report (December 2016)

Newsletter returns are now entered into the chart. The "number 1 performing portfolio" in the past 10 years, by the slimmest of margins: Wellington at 6.89% annualized return. Makes me wonder why I'm even trying to do anything different than that! -Brad. I've been looking at the same thing in my summary of returns. I have a 60/40 allocation across multiple classes including a slight tilt to value and have been noticing that Wellington just seems to do as well or better in most individual years and across various periods. I enjoy following my allocation and feel like I've done something when I rebalance but I appear to be wasting time; My advice to my wife if she outlives me is to just go with Wellington and Wellesley to get to th...
by jamacq
Mon Oct 31, 2016 8:15 pm
Forum: Personal Consumer Issues
Topic: Visit Fairbanks, Alaska to see Northern Lights?
Replies: 10
Views: 2269

Re: Visit Fairbanks, Alaska to see Northern Lights?

Here are the pictures I took outside of Fairbanks back in March 1994.

http://astroimages.org/aurora.html

I've seen the aurora from Norway, Iceland, Maine and Fairbanks. No contest, best location I've seen them from was Fairbanks.

Jeff
by jamacq
Sun May 01, 2016 8:30 am
Forum: Personal Consumer Issues
Topic: Planetarium software that only shows BRIGHTER nebulas?
Replies: 4
Views: 691

Re: Planetarium software that only shows BRIGHTER nebulas?

Another thing you could do is continue to use your current app and just restrict yourself to looking for the Messier Objects. Those are designated with an Mxxx. These are the brighter objects that were cataloged by Charles Messier while comet hunting and are all visible in binoculars. M57 The Ring Nebula is my profile pic which I took through a 4.3" refractor using a ccd camera.

Jeff
by jamacq
Sun May 01, 2016 8:08 am
Forum: Personal Consumer Issues
Topic: Planetarium software that only shows BRIGHTER nebulas?
Replies: 4
Views: 691

Re: Planetarium software that only shows BRIGHTER nebulas?

I use The Sky which does what you want.
by jamacq
Sun Jan 24, 2016 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Download Vanguard accounts to Quicken question
Replies: 2
Views: 621

Re: Download Vanguard accounts to Quicken question

If I recall, Quicken actually asks if you want to treat each fund as a separate account or together in one account. I recommend together in one account. Treat an account as Vanguard does. You may have a taxable account at Vanguard and a separate IRA account also. Each of these accounts may have several funds in them. Quicken can treat the accounts the same as Vanguard. Several funds in each separate account.
by jamacq
Sat Nov 07, 2015 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Waiting to 66 For SS Equals 8.3% COLA'd Annuity?
Replies: 50
Views: 6280

Re: Waiting to 66 For SS Equals 8.3% COLA'd Annuity?

That's the simplest case I've seen made for delaying. Rather than calculating a break-even age, etc...this puts it in simple terms of an attractive price for a great annuity. I just did the math for the similar case of waiting until age 70 using my benefit estimate. Based on my benefit estimate for age 66 and 8 months vs age 70, I calculate that it is the same as buying a cola'd annuity that returns 8.8%. Since my spouse would also get the stepped up annuity if I died, I believe this would be the equivalent a joint life annuity. A quick check on ImmediateAnnuities.com shows that a 70 year old man could get a non-cola'd annuity that pays only 6.05% today. Big difference in benefit. Again, thanks for posting this. I hadn't thought of the deci...
by jamacq
Thu Nov 05, 2015 5:52 pm
Forum: Investing - Theory, News & General
Topic: 401k matching limits
Replies: 4
Views: 1365

Re: 401k matching limits

Your analysis looks correct. Some people are also able to continue contributing on an aftertax basis up until the $53k limit.
by jamacq
Sat Oct 31, 2015 9:26 pm
Forum: Personal Consumer Issues
Topic: Low-cost and low-maintenance hobbies?
Replies: 69
Views: 11267

Re: Low-cost and low-maintenance hobbies?

Stargazing/Astronomy. Runs the entire range of cost.

You can start with your eyes and clear, dark night. Move up to a pair of binoculars and if desired add in a modestly priced Dobsonian Telescope. But at the higher end, you can invest in specialized digital camera, high-end telescopes and on and on. I've run the range over a lifetime of enjoying looking up at night. Some of my results with astrophotography are here: http://www.astroimages.org
by jamacq
Mon Aug 24, 2015 9:45 am
Forum: Investing - Theory, News & General
Topic: VHT down 27% - Glitch or missed opportunity
Replies: 59
Views: 10397

Re: VHT down 27% - Glitch or missed opportunity

Got some shares at 101.45 this morning. Currently over 130. VV also had an oversized drop.
by jamacq
Thu Jun 25, 2015 7:08 pm
Forum: Personal Consumer Issues
Topic: Scotland / Ireland Castles?
Replies: 29
Views: 5914

Re: Scotland / Ireland Castles?

I did a self exploring tour of the castles that were used filming Monty Python's Holy Grail. Going back this year to revisit a few. Duone Castle (also used in filming other shows like Outlander and Winterfell in Game of Thrones). Also Castle Stalker from Holy Grail. Both very picturesque.
by jamacq
Sat Apr 04, 2015 6:58 pm
Forum: Personal Consumer Issues
Topic: The train from Oslo to Copenhagen? Copenhagen ideas?
Replies: 25
Views: 7704

Re: The train from Oslo to Copenhagen? Copenhagen ideas?

Copenhagen is a really fun city to walk. It's called the city of spires because of the all of the amazing spires on the government buildings. It also boasts one of the oldest amusement parks (Tivoli). Be sure to visit Nyhavn.

Probably my single favorite city to visit. Both times I visited I stayed at the Marriott. Walking distance to most everything.

Jeff
by jamacq
Wed Mar 25, 2015 9:16 pm
Forum: Personal Consumer Issues
Topic: Booking a cruise online
Replies: 8
Views: 2428

Re: Booking a cruise online

Cruisecompete.Com is a good way to go. Find the cruise and Cabin type you want, enter it on the site and travel agents make offers. I've used it three times now very successfully saving quite a bit over the cruise line or Travelocity.
by jamacq
Fri Feb 13, 2015 9:30 pm
Forum: Personal Consumer Issues
Topic: Pick Out My New TV For Me
Replies: 30
Views: 7916

Re: Pick Out My New TV For Me

Very happy with recent purchase of 70" Vizio M Series. I compared to Samsung and found good value in the Vizio.

http://www.amazon.com/VIZIO-M702i-B3-70 ... s=m702i-b3

I bought on sale Black Friday and see the current Amazon price is about the same as I paid. Good value in my opinion. Excellent picture.

Jeff
by jamacq
Wed Dec 31, 2014 4:01 pm
Forum: Personal Consumer Issues
Topic: Best albums from 2014?
Replies: 63
Views: 9296

Re: Best albums from 2014?

Sound Mirror by Syd Arthur. Relatively new British prog group. Saw them at a recent YES concert as the opening act.
by jamacq
Wed Dec 24, 2014 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: After-tax 401(k) Limit
Replies: 5
Views: 982

Re: After-tax 401(k) Limit

Agree that 1% is better than nothing and we are taking advantage of it. Was briefly excited when I found they too offered this feature. Had visions of significantly pumping up her Roth IRA but alas it will just be a little extra.

Thanks for your replies.

Jeff
by jamacq
Wed Dec 24, 2014 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: After-tax 401(k) Limit
Replies: 5
Views: 982

After-tax 401(k) Limit

Both my employer and my spouse's employer allow after-tax contributions and in-service withdrawals of those contributions. My employer does not limit the amount...the only limitation is the overall IRS limit of $52k in 2014 and $53k in 2015. However, my spouse's 401(k) limits after-tax contributions to 1% of salary.

I confirmed this with the adminstrator of the 401(k). I'm curious if anyone has any idea why an employer would impose such a limit. It seems odd to me that they would allow the after-tax contributions at all if they are choosing to impose such a low limit.

Jeff
by jamacq
Mon Dec 22, 2014 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Paycheck "leap year"
Replies: 38
Views: 11485

Re: Paycheck "leap year"

My company will have a 27th paycheck this year and it causes an issue in the 401k since this company doesn't do end-of-year true ups. What this means is that in order to get the maximum 401k match it's important that you contribute at least the minimum amount each paycheck to get the match. If you max out early, you stop getting the match. (Some employers do an end-of-year true up and match the full amount as long as you contributed the minimum required amount of your salary during the year...they don't care if you max out early). Each year, I carefully plan out the correct percentage to take from the paycheck to spread the max over the entire year. I miscalculated this year not realizing there was a 27th paycheck. Fortunately, caught the i...
by jamacq
Sat Nov 01, 2014 1:09 pm
Forum: Personal Investments
Topic: Post-tax 401k to Roth IRA vs. Roth 401k. What's the dif?
Replies: 6
Views: 1163

Re: Post-tax 401k to Roth IRA vs. Roth 401k. What's the

My employer just added the Roth 401k option for next year but it is not the best option for me. My employer allows after-tax contributions which allows me to do the Roth IRA rollover. They allow withdrawal of just the after-tax portion and associated earnings which I can then send to Vanguard and add to my Roth. The reason this is still a better route for me than using the new 401k Roth is that contributions to the 401k Roth count towards the $17.5k maximum employee contribution. The after-tax contributions do not count toward that cap. After-tax contributions hit a cap if I hit the maximum $52k total cap which counts my pre-tax, after-tax and my employer contributions. So instead of Roth IRA vs Roth 401k, it's really Pre-tax 401k vs Roth 4...
by jamacq
Wed Sep 24, 2014 12:35 pm
Forum: Personal Consumer Issues
Topic: Quicken to track investments - how are you using it?
Replies: 9
Views: 1643

Re: Quicken to track investments - how are you using it?

You can get the best of both worlds. Quicken does a fine job at keeping track of investment lots, cost basis and current value of investments. To track asset allocation and IRR, I export from Quicken reports into Excel using a simple macro. Essentially, I just copy and paste from several reports including the Portfolio Value report and the Investment Performance report into Excel. To automate it, I wrote a macro that opens the reoprts and does the copy and paste for me.
by jamacq
Tue Sep 17, 2013 4:11 pm
Forum: Personal Consumer Issues
Topic: Weight Loss Plans?
Replies: 178
Views: 21983

Re: Weight Loss Plans?

caloriecount.about.com is also a good website for keeping track of food, activity and weight logs. It helped me to lose a significant amount of weight and continue to track.
by jamacq
Thu Nov 22, 2012 4:59 pm
Forum: Personal Investments
Topic: In-Service Rollover of After-Tax 401(K) Dollars – Legal?
Replies: 28
Views: 2350

Re: In-Service Rollover of After-Tax 401(K) Dollars – Legal?

I just did a direct rollover from aftertax contributions to 401(k) to my Vanguard Roth. I called Vanguard to confirm whether I needed to first go to a rollover and then convert to Roth and they informed me that that was not required...just go directly to Roth.

My company website permits me to withdraw/rollover aftertax contributions at any time. I specified that it was to be rolled over to Vanguard and they issued a check to Vanguard and sent it directly to me. I then mailed that to Vanguard with directions to purchase a particular fund in my Roth IRA as a rollover from aftertax contributions. Went very smoothly.

Jeff
by jamacq
Mon Jul 09, 2012 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Amerisave Mortgage
Replies: 8
Views: 1788

Re: Amerisave Mortgage

I'm in the middle of a refi with them. A little slow to respond to questions but so far the process seems to be moving along. Rates are very good compared to NFCU, PENFED, etc. I'm getting 3.5% with reduction in closing costs (negative points), resulting in almost no closing costs.
by jamacq
Thu Dec 29, 2011 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed Cash Rewards CC dropping cash back to .25%
Replies: 58
Views: 9677

Re: Penfed Cash Rewards CC dropping cash back to .25%

I made the switch to the new Penfed. It's an easy switch...they let you keep your existing card and number and just change the terms to the new card offer. You can still get the equivalent of cash back by getting a Visa cash card in payment for your points. 5 points (5%) on gas, 3 points for grocery and 1 for everything else. I've been using this card for gas only and the 1.75% PNC card for everything else. Will use the Penfed for gas and grocery. Plus there's a bonus for spending $1000 in the first three months you'll get 25,000 points ($250).

Jeff
by jamacq
Sat Dec 17, 2011 3:02 pm
Forum: Personal Investments
Topic: Muni Bond Posts: Why the lack of interest?
Replies: 38
Views: 3085

Re: Muni Bond Posts: Why the lack of interest?

My best investment YTD by far has been my T. Rowe Price Virginia Tax Free Bond Fund (PRVAX). Tax free yield of 4.03% and YTD total return of 10.05%. I wish Vanguard would offer a VA muni fund. I have to think there are enough VA customers to make it worthwhile for them.

Jeff
by jamacq
Sat Nov 05, 2011 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon Chase Card/Points
Replies: 13
Views: 21780

Re: Amazon Chase Card/Points

leod wrote:citi forward is better
5% points on amazon and food purchases
Does that apply to all purchases at Amazon or only books?
by jamacq
Sat Nov 05, 2011 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon Chase Card/Points
Replies: 13
Views: 21780

Re: Amazon Chase Card/Points

I have the card and use it only for Amazon purchases. It works great. The nicest thing is that you don't have to redeem points by getting a check. You can apply any amount of points (no minimum) to your next Amazon purchase and it just reduces the purchase price.
by jamacq
Sat Nov 05, 2011 7:01 am
Forum: Investing - Theory, News & General
Topic: Question for bogleheads with custom portfolio spreadsheets
Replies: 8
Views: 1128

Re: Question for bogleheads with custom portfolio spreadshee

I have automated my spreadsheet with a self-written vba script that pulls reports from Quicken and pastes my holdings into a tab of the spreadsheet. Then on another tab, the funds are sorted by allocation to show my current allocation. However, I treat allocation a bit simpler than you are attempting through Morningstar. I primarily use Vanguard funds or ETFs and try to stick to available index funds in my 401(k). I then treat the entire fund as filling only one allocation cell in the style map rather than spread across multiple cells as Morningstar shows. So for example, my Vanguard Small Cap Blend fills the SB cell on the 9-cell Morningstar style map, rather than being smeared across the bottom third of the style map.

Jeff
by jamacq
Thu Nov 03, 2011 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard/Quicken quote glitch today (11/3/11)?
Replies: 5
Views: 1141

Re: Vanguard/Quicken quote glitch today (11/3/11)?

I updated this evening around 7pm and had no issue. I have REIT Index but not the others in your list.

Jeff
by jamacq
Thu Nov 03, 2011 2:34 pm
Forum: Investing - Theory, News & General
Topic: Beware the Long Tail
Replies: 6
Views: 1426

Beware the Long Tail

Interesting article on market risk in the latest issue of Science News. http://www.sciencenews.org/view/feature ... _Long_Tail

Article postulates that extreme events/market moves are more likely than current risk models based on Gaussian distributions suggest.

Jeff
by jamacq
Sun Oct 30, 2011 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: $54K Tax Advantaged Space Per Year
Replies: 25
Views: 4253

Re: $54K Tax Advantaged Space Per Year

Here's another topic thread that covered this issue. Looks like the strategy may be allowed.

http://www.bogleheads.org/forum/viewtopic.php?p=923229
by jamacq
Sun Oct 30, 2011 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: $54K Tax Advantaged Space Per Year
Replies: 25
Views: 4253

Re: $54K Tax Advantaged Space Per Year

Hmmm.. Now I am concerned. Cashistrash looks to be correct here. Following the trail from his Fairmark link I found this IRS newsletter entry to employers: http://www.irs.gov/pub/irs-tege/rne_fall08.pdf My account in my employer’s retirement plan is made up of employer contributions, my after-tax employee contributions, and earnings on both. Can I take out just the after-tax portion and roll it to a Roth IRA and leave the rest in the plan? No, you may not take a distribution of only your after-tax contributions. Any distribution from a retirement plan account in which there is basis is treated as consisting of both pre-tax amounts (your employer’s pretax contributions and earnings) and your after-tax contributions. The after-tax contributio...
by jamacq
Sun Oct 30, 2011 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: $54K Tax Advantaged Space Per Year
Replies: 25
Views: 4253

Re: $54K Tax Advantaged Space Per Year

Spat: Couple of things to note. The limits are $16.5k contribution pre-tax to your 401(k). This will go up to $17k next year. Then $49k ($50k next year) for total contributions. Perhaps you know this but I didn't see mention of it. The total you can contribute directly to the pre-tax and to the Roth 401(k) combined is $16.5k. Then you begin contributing to the after-tax. The $49k limit includes, pre-tax+Roth 401(k), after-tax and also employer matching contributions. You didn't mention whether your employer provides any match. If they do, this amount is also included in the $49k limit. You can then withdraw the aftertax portion and pay tax on any increase in value and then convert to a Roth as you plan. Just be sure to note that any employe...
by jamacq
Sat Oct 22, 2011 11:23 am
Forum: Personal Investments
Topic: 401(k) Contribution Limits Question
Replies: 2
Views: 542

Re: 401(k) Contribution Limits Question

The fidelity pdf indicates then that the employer match will stop once a total of $50k is reached. This would then allow an additional employee contribution of $5,500 to reach a total amount of $55,500 for the year.

Thanks.