Search found 187 matches

by Taco Knight
Tue Mar 27, 2018 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Grass is always greener, federal edition
Replies: 59
Views: 7917

Re: Grass is always greener, federal edition

You'll probably enjoy your work-life balance even more as your child grows older. They'll have activities that take up more significant chunks of time than playgrounds and birthday parties that you may wish to accompany them on. I think you're happy now and you'll continue to be happy so you shouldn...
by Taco Knight
Mon Mar 26, 2018 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie w/ $200k to invest- help!
Replies: 16
Views: 2649

Re: Newbie w/ $200k to invest- help!

If applicable (ignore if moot!): While you're figuring it out, make sure it's resting in something like the Ally Savings account or similar earning 1.45% or whatever it currently is, rather than in whatever brick and mortar you already happened to have that gives you .05%, or worse, in your checking...
by Taco Knight
Wed Mar 21, 2018 4:24 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA
Replies: 10
Views: 921

Re: Roth IRA

I don't think your first response is correct. No contributions can be made in your wife's name for a tax year in which she reported no income. If she had some hobbies or part-time work or sold some things on eBay (or you/the whole family did, but just answer any questions that the account was hers),...
by Taco Knight
Wed Mar 21, 2018 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: Maxed 401k and Roth IRA questions
Replies: 44
Views: 2442

Re: Maxed 401k and Roth IRA questions

If the 2050 target fund matches your allocation diversity and risk/reward tolerance/goals, then it's fine to have all/both of your funds there. But there's no information here for anyone to advise you on whether your 401(k) is good or bad, only that it exists. You need to provide its fee structure a...
by Taco Knight
Thu Mar 15, 2018 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth
Replies: 6
Views: 684

Re: Backdoor Roth

If you have nothing else in any tIRAs, then you might want to convert it paying the taxes one time if you think the potential tax-free gains for ~30 years will be worth the definite taxes you pay now. In addition to the rollover funds any previous tIRA accounts are considered in determining your tax...
by Taco Knight
Thu Mar 08, 2018 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Are you ready for Amazon checking?
Replies: 42
Views: 6388

Re: Are you ready for Amazon checking?

Random Poster wrote:
Mon Mar 05, 2018 5:40 pm
I wonder if the account will always offer an interest rate equal to the Prime rate....
Just to let you know at least one reader appreciated this...
by Taco Knight
Thu Mar 08, 2018 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA all in cash: Strategies, thoughts, concerns, etc.
Replies: 6
Views: 628

Re: Roth IRA all in cash: Strategies, thoughts, concerns, etc.

Personally, I'd flip the allocations, as I'd want to have the equities in the Roth IRA and then pay taxes on the gains on the CDs in the 401k.
by Taco Knight
Wed Mar 07, 2018 10:10 am
Forum: Investing - Help with Personal Investments
Topic: Switching to online bank. Keep brick/mortar bank account open?
Replies: 54
Views: 3929

Re: Switching to online bank. Keep brick/mortar bank account open?

Oh, also most online banks are members of large ATM networks or refund all or a portion of your fees, so you might find more/simpler ATM options without a physical bank and the need for their ATMs. Indeed. I bank with USAA and I can go to any ATM in town. I don't carry a lot of currency so it isn't...
by Taco Knight
Wed Mar 07, 2018 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Downpayment Savings - Money Market Account
Replies: 13
Views: 1736

Re: Downpayment Savings - Money Market Account

If you're in a state that has robust bond funds (and a state income tax), then municipal bond funds might be a good place. Should get 2-3% and no state tax, you'd have to pay fed tax on both the munis and the online savings, but online savings would also have state tax if applicable.
by Taco Knight
Wed Mar 07, 2018 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Switching to online bank. Keep brick/mortar bank account open?
Replies: 54
Views: 3929

Re: Switching to online bank. Keep brick/mortar bank account open?

I was concerned, but I've really had no need for a brick and mortar over the past three four years. If I happen to have a lot of cash (more than I choose to keep as a personal ATM at home), I've given it to a friend who wrote me a check rather than spend the whatever for a money order. This has happ...
by Taco Knight
Wed Feb 28, 2018 12:30 pm
Forum: Investing - Help with Personal Investments
Topic: NY 529 and K-12
Replies: 19
Views: 1467

Re: NY 529 and K-12

It seems pretty clear that it's moot: "may require recapture of any New York State tax benefits that accrued on contributions" Did you claim any NYS tax benefits on accrued contributions? NY state tax deduction is useless for us. Seems like you said you hadn't. Therefore, the recapture of a benefit ...
by Taco Knight
Wed Feb 14, 2018 10:52 am
Forum: Investing - Help with Personal Investments
Topic: I've never rebalanced - Can I do ok without it?
Replies: 35
Views: 4796

Re: I've never rebalanced - Can I do ok without it?

I don't manually rebalance. Ever. I split my contributions, both direct through IRA and indirect through DCPs, into equity funds, target-date funds, and bond/stable income funds. The equities usually go up, and I buy more of them each year. The TD funds rebalance on their own (meaning, I don't do it...
by Taco Knight
Mon Feb 12, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Suggest a Financial Aggregator Site
Replies: 8
Views: 860

Re: Suggest a Financial Aggregator Site

You can change the account type in Personal Capital to lump your cash accounts with investments. There’s a checkbox under account details that says Include inn investments (or similar). Not sure about CDs but I would imagine it’s the same. Thanks for telling us (me) about this. Must've been in one ...
by Taco Knight
Fri Feb 09, 2018 12:19 pm
Forum: Investing - Help with Personal Investments
Topic: What day of the week do you invest?
Replies: 11
Views: 936

Re: What day of the week do you invest?

Any data that you find that suggests one day of the week is better than others can easily be refuted by the data that shows certain temperatures in Lower Manhattan are better than others, while that, of course, will be undone by the well-known studies that suggest it's much better to rely solely on ...
by Taco Knight
Fri Feb 09, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: [Ally online savings now at 1.80%]
Replies: 233
Views: 39337

Re: Ally online savings now at 1.45%

Wonder why my rate is still showing 1.35%. Is there an effective date? I'm also getting 1.35% on my dashboard but their public-facing website seems to clearly state it's 1.45% and proudly say it matches AmEx (and skips all the other banks withing range like those mentioned upthread). Just checked o...
by Taco Knight
Wed Feb 07, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Philadelphia and Pittsburgh local taxes
Replies: 12
Views: 1015

Re: Philadelphia and Pittsburgh local taxes

I believe only Philadelphia county area is taxed. If you are in suburbs, which is most of Philly, you aren't taxed. I'm pretty sure the suburbs are not in Philly by definition. Philadelphia is one of the most notable/largest coterminous city-counties in the country. There's complete and exhaustive ...
by Taco Knight
Mon Feb 05, 2018 9:24 pm
Forum: Investing - Theory, News & General
Topic: Hoping for a second down day
Replies: 4
Views: 986

Re: Hoping for a second down day

Today I put in my order to sell four randomly picked mutual funds Doesn't sound like a good strategy. What is your allocation and Investment Plan? Stick to it. Not the OP, but I think he or she randomly picked them when they were purchased (conceding they didn't know any better at the time), not ra...
by Taco Knight
Mon Feb 05, 2018 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Maxed, Have More To Invest
Replies: 5
Views: 790

Re: Roth IRA Maxed, Have More To Invest

Why not increase your 457 payroll contribution by 1% or 2% and then forget that you ever did it anyway? Then, next year, do it again.
by Taco Knight
Mon Feb 05, 2018 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: Should I use the NYC 457 (DCP)?
Replies: 8
Views: 1173

Re: Should I use the NYC 457 (DCP)?

(Minor point, if you're talking about NYCERS it compounds daily, not yearly -- a difference of $2 to $8 dollars a year!) You can also leave your pension with them until you're absolutely certain you won't be back to City service within 5 years, otherwise you'd have to buy your service time back and ...
by Taco Knight
Fri Feb 02, 2018 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Lawyers with Student Loans, Income-Driven Repayment Plans, & 1 PSLF Eligible
Replies: 4
Views: 639

Re: Lawyers with Student Loans, Income-Driven Repayment Plans, & 1 PSLF Eligible

I would try to pay yours off in actuality, not seek forgiveness. In my understanding any forgiveness scheme other than PSLF isn't worth it. It takes 25 years of bigger payments instead of 10 years of smaller ones AND the forgiven balance is taxable income (and PSLF's isn't), per my understanding. Ma...
by Taco Knight
Thu Feb 01, 2018 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: Pay off future DIL's school loans?
Replies: 28
Views: 1899

Re: Pay off future DIL's school loans?

Why not wait until she has a job, either in a hospital or otherwise after she takes out loans for RN? While without a job = unemployment deferral on loans. While in grad school = school deferral on loans. While working in a hospital (the vast majority of which are public or non-profit) = likely elig...
by Taco Knight
Thu Feb 01, 2018 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: Opening a Vanguard Roth IRA
Replies: 7
Views: 849

Re: Opening a Vanguard Roth IRA

I do have earned income. On my W-2, it will show about $12,000 for 2017, about $5,000 of which I actually saw, just due to the nature of how our money is allotted. So, by that, I am eligible to invest in an IRA or Roth. In this case, you can contribute $5,500, even if you only got $5000. All that m...
by Taco Knight
Thu Feb 01, 2018 9:52 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - exact steps confusion... sorry!
Replies: 4
Views: 492

Re: Backdoor Roth IRA - exact steps confusion... sorry!

If your wife has money sitting in tIRA, move it to her 401k first before doing a backdoor Roth for her. We're still undetermined about her tIRA. We might leave hers be and continue to contribute traditionally (deducting when applicable) because 1: She's unsure about the one-time tax hit and whether...
by Taco Knight
Thu Feb 01, 2018 9:48 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - exact steps confusion... sorry!
Replies: 4
Views: 492

Re: Backdoor Roth IRA - exact steps confusion... sorry!

I have a step by step guide (with screenshots ) for the Vanguard backdoor Roth, which you may find helpful. To answer your questions, Yes to 1-3. I go with a money market account. I don't believe there's any need to worry about the step doctrine -- congress recently "blessed" the backdoor Roth as l...
by Taco Knight
Thu Feb 01, 2018 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA - exact steps confusion... sorry!
Replies: 4
Views: 492

Backdoor Roth IRA - exact steps confusion... sorry!

I gotta say, the main reason I feel confused is because how easy it looks and that triggers my "that can't be right..." sense Sorry, I know this has been covered to death, but I've read the wiki and all the forum posts about the backdoor, I'm just a little trepidatious about the exact steps because ...
by Taco Knight
Thu Feb 01, 2018 9:16 am
Forum: Investing - Help with Personal Investments
Topic: Opening a Vanguard Roth IRA
Replies: 7
Views: 849

Re: Opening a Vanguard Roth IRA

If you have, say $3000 in income, put that, or however much you've earned on a W2, in the Roth IRA -- either in a Target Year 2060 (I think their latest) or in the Total Stock Market index fund. If your income is truly minimal, like $600, just buy a high interest CD and have fun having $670 or somet...
by Taco Knight
Thu Jan 18, 2018 3:49 pm
Forum: Investing - Theory, News & General
Topic: Bonds in Roth IRA?
Replies: 3
Views: 965

Re: Bonds in Roth IRA?

The general idea is to have as much growth (and therefore risk) in your Roth IRA as possible, so as to not pay tax on those gains when in disbursement. If you can max out your Roth IRA and still have money you'd want to invest and no other tax-advantaged places to put it, then that additional invest...
by Taco Knight
Wed Nov 29, 2017 4:37 pm
Forum: Investing - Help with Personal Investments
Topic: When to open Vanguard account?
Replies: 14
Views: 1272

Re: When to open Vanguard account?

I want to eat a sandwich, should I eat one now or later?

We would need to know a lot more about your current situation and your options to begin to answer that question. You may not even need to rebalance, but there'd be no way anyone could know given the lack of data.
by Taco Knight
Wed Nov 08, 2017 2:31 pm
Forum: Investing - Theory, News & General
Topic: Open a Roth but Vanguard minimum investment too high?
Replies: 19
Views: 1770

Re: Open a Roth but Vanguard minimum investment too high?

You could also invest in one of Vanguard's target retirement funds. One word of caution though is Vanguard's target retirement funds invest in international bonds along with the 3 funds you listed. Since I'm new here....International bonds...we don't like those? I also think it was prompted by you ...
by Taco Knight
Thu Oct 26, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Trying to get interview/ strange turn, what to think?
Replies: 19
Views: 2888

Re: What would you do to get an interview?

Without knowing more details (really about the size of the company or the specificity of the industry), I would think that reaching out to the President of the company would be a bad move after only a month. It's a Hail Mary pass on a second down in the 3rd quarter, why risk the interception and be ...
by Taco Knight
Fri Sep 08, 2017 11:54 am
Forum: Investing - Help with Personal Investments
Topic: Choosing Between Roth IRA vs. NYC 457 Roth Options
Replies: 5
Views: 794

Re: Choosing Between Roth IRA vs. NYC 457 Roth Options

I assume you are a NYC employee, or else what do you mean by "NYC 457"? If not, ignore everything here: And just to clarify, you only have access to the 457 and not the 401(k)? There's also the NYCE IRA, which like the NYC DCP (Deferred Compensation Plans, the term for all 4 varieties of [Roth] 401k...
by Taco Knight
Fri Aug 25, 2017 9:35 am
Forum: Investing - Help with Personal Investments
Topic: Newbie question.... calculating ER?
Replies: 6
Views: 553

Re: Newbie question.... calculating ER?

cas wrote:
Wed Aug 23, 2017 10:29 am
BTW, an ER of 0.09 on $1000 is $0.90 per year, rather than $90/year.
Thanks! I forgot whether I was already moving the decimal making a regular number into a percent and didn't even give the numbers a sniff test.
by Taco Knight
Wed Aug 23, 2017 9:55 am
Forum: Investing - Help with Personal Investments
Topic: 26 years old, strategy help, need some wisdom
Replies: 12
Views: 1530

Re: 26 years old, strategy help, need some wisdom

As you're not yet engaged, I'd suggest making sure you have enough in cash/EF to pay off that 9% right away in full. The remaining 40K can maybe be tackled with the income stream that you'd otherwise be contributing to the taxable funds. You might not have to do anything with the funds you already h...
by Taco Knight
Wed Aug 23, 2017 9:48 am
Forum: Investing - Help with Personal Investments
Topic: Newbie question.... calculating ER?
Replies: 6
Views: 553

Re: Newbie question.... calculating ER?

Oh, yeah, in that case, it'll basically disappear to within a rounding error.
by Taco Knight
Wed Aug 23, 2017 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Newbie question.... calculating ER?
Replies: 6
Views: 553

Re: Newbie question.... calculating ER?

That would depend on your total balance. The $4.25 or $51 is flat. ER (.09) is a percent, so it's .09% which is not directly comparable to .51 or whatever other ways you've moved the decimals. Calculate your actual ER from a % to raw $, then add $51 and redo the math. Impossible to know without your...
by Taco Knight
Mon Aug 07, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Capital - Questions about the "Cash Flow" feature
Replies: 23
Views: 6602

Re: Personal Capital - Questions about the "Cash Flow" feature

I don't understand your problem. Say you didn't return the clothes you just bought, what if you sold a shirt for $50 for some reason? You'd be upset that this was marked "clothing/shoes" rather than "income", "sales", "other income" etc? I have no problem seeing returns come in as income in that exp...
by Taco Knight
Tue Aug 01, 2017 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Number of withdrawals permitted/personal savings account
Replies: 11
Views: 1423

Re: Number of withdrawals permitted/personal savings account

Call them again. The federal law you are referring to is known as "Regulation D" - if the CSR doesn't know that term ask for a supervisor. To my understanding, they cannot institute a lower limit. It is 6 set by the authorities (raised about a decade ago from 3 per month) in order to benefit the con...
by Taco Knight
Sat Jul 15, 2017 10:46 pm
Forum: Investing - Help with Personal Investments
Topic: Low cost index funds/Fidelity
Replies: 21
Views: 2714

Re: Low cost index funds/Fidelity

I honestly don't understand the difference between mutual funds and index funds. I'm pretty ignorant that is why I got in with Edward Jones. Just being honest here. While gkaplan is correct, a good way to think about it is that "mutual funds" as a term is generally a managed account, even if not ac...
by Taco Knight
Mon Jun 26, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Early IRA withdrawal vs 401k loan for legal bills
Replies: 10
Views: 1091

Re: Early IRA withdrawal vs 401k loan for legal bills

neurosphere wrote:Sorry, the IRA is a traditional IRA and this would be an early withdrawal.
Thought as much because you mentioned the penalty, but just wanted to be absolutely certain. I'd do the loan -- the space can be paid back, rather than the money being both hypothetically and actually lost.
by Taco Knight
Mon Jun 26, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Early IRA withdrawal vs 401k loan for legal bills
Replies: 10
Views: 1091

Re: Early IRA withdrawal vs 401k loan for legal bills

We'd need to know if it's a traditional IRA or a Roth IRA. A Roth IRA lets one withdraw their contributions without penalty (aside from the hit on savings/planning, but this seems like a necessary loss for this isolated occurrence), whereas any early withdrawal from a traditional IRA prior to age 59...
by Taco Knight
Tue Jun 20, 2017 11:12 am
Forum: Investing - Help with Personal Investments
Topic: Ally Bank No penalty CD for parking cash, is there a catch?
Replies: 104
Views: 21389

Re: Ally Bank No penalty CD for parking cash, is there a catch?

How is interested accrued? If you cash out after, say 2.8 months, would you get the full 2.8 months interest, or would you just get 2 months interest because that's the number of whole months you were in? Interest accrues daily. Sorry, but this is not my experience. Interest compounds daily, but it...
by Taco Knight
Wed May 24, 2017 10:49 am
Forum: Investing - Help with Personal Investments
Topic: Newbie here! What should my betterment allocation be?
Replies: 9
Views: 1078

Re: Newbie here! What should my betterment allocation be?

Have to agree with the crowd. Betterment is not "easier" than just plunking however much you have that's more than $1000 (or $3000 in a few cases) in a 2050 Target Retirement date fund (automatically balances bonds and international for you, you can adjust by picking earlier/conservative or later/ri...
by Taco Knight
Mon May 08, 2017 1:17 pm
Forum: Investing - Help with Personal Investments
Topic: New job in higher ed - school doesn't participate in Social Security
Replies: 3
Views: 838

Re: New job in higher ed - school doesn't participate in Social Security

It'd be no more double-dipping than drawing interest from two different accounts. You're paying into both systems in series and then collecting them in parallel. No worries about audits or malfeasance from that standpoint.
by Taco Knight
Fri Feb 24, 2017 12:08 pm
Forum: Investing - Theory, News & General
Topic: Just started a Roth IRA w/ Vanguard
Replies: 10
Views: 3005

Re: Just started a Roth IRA w/ Vanguard

what do you mean by Market weight is about 10%? Does that mean I should only have 10% in small? It means that the aggregate of all traded stocks that are classified "small cap" totals ~10% of the market. The relatively small[er] raw number of companies that are classified "large cap" are a substant...
by Taco Knight
Fri Feb 24, 2017 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Confirming reliable online banks for CDs
Replies: 8
Views: 1157

Re: Confirming reliable online banks for CDs

I've had no problems with and been generally pleased with CDs from Ally and Barclay's, both from the set-up of an initial account, transferring from external accounts to make the purchase, viewing the CDs and their maintenance for monthly interest, and with customer service from both. Rates are lowe...
by Taco Knight
Tue Feb 21, 2017 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: When To Enroll in ACA (Obamacare)
Replies: 6
Views: 832

Re: When To Enroll in ACA (Obamacare)

I haven't been following the news that closely, but I'm pretty sure if ACA coverage is what you want, you should sign up for it post-haste. Congress and the Executive branch seem to have no concrete plan with what to replace it with, but a lot of steam about "destroying" it, and things have had a te...
by Taco Knight
Fri Oct 28, 2016 10:00 am
Forum: Personal Finance (Not Investing)
Topic: 25, no savings, job less stable than previously thought, financial and career advice needed
Replies: 17
Views: 2599

Re: 25, no savings, job less stable than previously thought, financial and career advice needed

You guys could also get married at the local courthouse, and then have a small dinner with a few friends and family, get your citizenship, start branching out with retirement/savings plans options and look into school now that you'd be eligible for more scholarships, aid, etc as a citizen. And then,...
by Taco Knight
Fri Oct 07, 2016 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Another way to give advice for those who don't want to read books
Replies: 0
Views: 366

Another way to give advice for those who don't want to read books

A common refrain I often see is people having trouble convincing others to look into their finances. Folks who are frustrated and want to convince them that it's not too late or too soon to start or that they don't have not enough money to worry about retirement now. Almost always the response is to...
by Taco Knight
Thu Jun 16, 2016 12:12 pm
Forum: Investing - Theory, News & General
Topic: Rationale for Dividend-seeking: Playing catch-up on opportunity lost?
Replies: 35
Views: 2313

Re: Rationale for Dividend-seeking: Playing catch-up on opportunity lost?

I've read a lot of the theories on both sides of the camp on dividends. I understand the possibility that returns from dividend-paying stocks may be smaller than returns from the overall stock market during any given period. And I even understand the math behind the dividend payout not being the de...
by Taco Knight
Thu Jun 16, 2016 12:09 pm
Forum: Investing - Theory, News & General
Topic: Rationale for Dividend-seeking: Playing catch-up on opportunity lost?
Replies: 35
Views: 2313

Re: Rationale for Dividend-seeking: Playing catch-up on opportunity lost?

The value per share would end up lower (not always "much"), yes, but only at the time of the distribution - wouldn't it be (reasonably) expected to climb back up, in order to be able to routinely distribute a dividend? If not, the value of every stock that gives dividends would revert close to 0 ov...