Search found 226 matches

by bryanm
Tue Jan 14, 2020 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth w/simultaneous transfer of pre-tax IRA balance to 401(k)
Replies: 5
Views: 248

Re: Backdoor Roth w/simultaneous transfer of pre-tax IRA balance to 401(k)

Seems fine to me. My understanding is that you can do the Roth conversion ("backdoor") so long as your trad IRA balance at the end of the relevant tax year is 0. In you scenario, conversion happens in 2020 (it always happens in the current year). At the end of 2020, your trad IRA balance will be 0. ...
by bryanm
Fri Jan 10, 2020 12:44 pm
Forum: Investing - Theory, News & General
Topic: Net Worth ??
Replies: 129
Views: 11584

Re: Net Worth ??

But you do not know you can only cash it for $850. 1) You do not know your future tax rate. when you end up cashing that check. ... 2) You have control over how much you get taxed. ... 3) You do not know what changes may occur to tax laws. ... Agree on all points. Since we're calculating "present n...
by bryanm
Fri Jan 10, 2020 12:10 pm
Forum: Investing - Theory, News & General
Topic: Net Worth ??
Replies: 129
Views: 11584

Re: Net Worth ??

Do you also include other future spending buckets (e.g., food, housing) as a liability? This is a red herring. Discounting an asset because of taxes due is not accounting for a future liability, it's accounting for a lower present value. If I have a check for $1000, but I know it will bounce, do I ...
by bryanm
Fri Jan 10, 2020 11:27 am
Forum: Investing - Theory, News & General
Topic: Net Worth ??
Replies: 129
Views: 11584

Re: Net Worth ??

DBR, you can choose to calculate your NW by using current assets-liabilities but to state that it's "the most conventional and useful answer is 100% wrong. Assets-Liabilities= Net Worth. Period. By the way, Social Security and pensions are considered income. Cheers. Even assuming you're correct, tr...
by bryanm
Thu Jan 09, 2020 1:54 pm
Forum: Investing - Theory, News & General
Topic: Net Worth ??
Replies: 129
Views: 11584

Re: Net Worth ??

For what purpose are you calculating net worth? If it's to track progression, then it doesn't matter if you include future tax as a liability or not, so long as you are consistent. Most probably do not track it as a liability. But your intuition is correct: pre-tax dollars are not as valuable as aft...
by bryanm
Thu Dec 19, 2019 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: What questions to ask when choosing attorney?
Replies: 23
Views: 1867

Re: What questions to ask when choosing attorney?

In my experience the best attorneys are both knowledgeable in the law and able to translate that knowledge into a strategy to further your goals. Finding both together is surprisingly difficult. For the first prong (knowledge in the law), I would ask questions about the specific dispute. How many si...
by bryanm
Wed Dec 04, 2019 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: how much to tip the cleaning lady
Replies: 76
Views: 5245

Re: how much to tip the cleaning lady

They're not mixing it up, it's just an inherently ambiguous term......lamentable failures of English's mongrel roots. Add to that the growing phenomenon rampant in our public schools as the Dumbing Down of America and the general trashing of the English language. Call up a cleaning service and tell...
by bryanm
Wed Dec 04, 2019 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: how much to tip the cleaning lady
Replies: 76
Views: 5245

Re: how much to tip the cleaning lady

My cleaning lady comes every two weeks also..... That's not what the OP wrote. OP wrote "bi monthly lady". Not the same. The next poster said "every other week". But thanks for explaining the difference between bi-weekly and twice per month to me. :wink: It is amazing to me how many well educated f...
by bryanm
Wed Dec 04, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: What do I do with 401k? Annuity?
Replies: 9
Views: 431

Re: What do I do with 401k? Annuity?

You should have the option to roll over to another 401k, if starting a new job. If the wording is what you have, you have tax + penalty on the first. Tax on the second, and bad choice on the third one. Make sure that are the only choices before proceeding. I agree that a new 401k makes the most sen...
by bryanm
Sat Nov 30, 2019 10:43 am
Forum: Personal Consumer Issues
Topic: Net Nanny: suggestions
Replies: 9
Views: 996

Re: Net Nanny: suggestions

Thanks all for the suggestion, I will look at opendns. Not sure how it will solve the problem when we are traveling For Windows/MacOS/Linux, you might consider whether you can limit your kiddos to user accounts, and then restrict access to edit DNS settings to admin accounts. That should enable you...
by bryanm
Fri Nov 29, 2019 1:05 pm
Forum: Personal Consumer Issues
Topic: Net Nanny: suggestions
Replies: 9
Views: 996

Re: Net Nanny: suggestions

My kid is starting to use the computer to do research for school work. At this point, the kid is not actively looking for adult material and I trust that it won't be an issue. At the same time, internet has too much content I would rather the kid not see at an young age. Google search suggested dev...
by bryanm
Fri Nov 29, 2019 12:08 pm
Forum: Personal Investments
Topic: Urge Vanguard to support better two-factor authentication
Replies: 108
Views: 9971

Re: Urge Vanguard to support better two-factor authentication

I currently use Google Authenticator wherever possible, but I'm contemplating switching to Authy. My understanding is that Authy will store your authentication tokens in the cloud, encrypted with a password only you know, so if you lose or trade in your phone, you can easily associate your next pho...
by bryanm
Wed Nov 27, 2019 1:34 pm
Forum: Personal Investments
Topic: Urge Vanguard to support better two-factor authentication
Replies: 108
Views: 9971

Re: Urge Vanguard to support better two-factor authentication

Why would you want that? I specifically like that vanguard does not require 2 factor. Why would I want to waste more time logging in when the chances of someone otherwise guessing your password are small and not your responsibility if they do. Some of my programs at work use it and its miserable - ...
by bryanm
Wed Nov 27, 2019 12:46 pm
Forum: Personal Investments
Topic: Urge Vanguard to support better two-factor authentication
Replies: 108
Views: 9971

Re: Urge Vanguard to support better two-factor authentication

Gort wrote:
Wed Nov 27, 2019 12:42 pm
I don't see the problem as it currently is.
SMS-based 2FA has known and proven security flaw. So the problem is that Vanguard is not taking simple, well-established, and routine steps to help secure our financial accounts against a known security risk.
by bryanm
Wed Nov 27, 2019 12:43 pm
Forum: Personal Investments
Topic: Urge Vanguard to support better two-factor authentication
Replies: 108
Views: 9971

Re: Urge Vanguard to support better two-factor authentication

mptfan wrote:
Wed Nov 27, 2019 12:33 pm
bryanm wrote:
Wed Nov 27, 2019 11:20 am
Both are way more secure than SMS, and Vanguard should adopt them.
Vanguard did adopt Yubikey.
Thanks for the heads up-I didn't realize that. I'm still using app-based auth, so I'm out of luck for the moment. :)
by bryanm
Wed Nov 27, 2019 11:20 am
Forum: Personal Investments
Topic: Urge Vanguard to support better two-factor authentication
Replies: 108
Views: 9971

Re: Urge Vanguard to support better two-factor authentication

I feel sort of dumb here, but I have no idea how these other authentication methods work although I guess I'd figure it out if I had to do so. They're very simple once you get them setup. "Authenticator, Duo, Authy, etc." are just apps on your phone. So instead of getting a text with a code, you op...
by bryanm
Tue Nov 26, 2019 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Two Factor Authentication ---Living Abroad
Replies: 58
Views: 2666

Re: Two Factor Authentication ---Living Abroad

So here I was, stuck, with a 3rd-party app supposedly trusting Google as an entity to authenticate me, and I had a phone designed by Google to run specifically on Google's own service, and I went through the standard Google trade-in process, and somehow, I suddenly lost access to my Authenticator a...
by bryanm
Mon Nov 25, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: 10 year ARM vs 30 year fixed
Replies: 27
Views: 2127

Re: 10 year ARM vs 30 year fixed

Am I missing something obvious here? Or did you leave out the details of the ARM? ARMs are usually tied to some index and would change yearly or after a certain time. They may have limits as to how much they can change and a capped upper limit. The example you provided showed one fixed monthly amou...
by bryanm
Mon Nov 25, 2019 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Password compromise issue
Replies: 12
Views: 1194

Re: Password compromise issue

It's tempting, but DO NOT REUSE PASSWORDS. ... Use a password manager --- I recommend cloud based (convenience) with 2 Factor. Bitwarden is pretty good. I wouldn't put your Tier 1 (retirement accounts) in that, though. Just remember them and don't use them again. Or leave your front door unlocked a...
by bryanm
Fri Nov 15, 2019 12:53 pm
Forum: Personal Consumer Issues
Topic: Productizing an idea
Replies: 28
Views: 1717

Re: Productizing an idea

Here is the dominant narrative in the entrepreneurial circles I run in: Since startup ideas, even good ideas, aren't very valuable in isolation, the general consensus is that intellectual property isn't worth trying to protect early on. The main problem with this is that often IP isn't available to...
by bryanm
Fri Nov 15, 2019 12:51 pm
Forum: Personal Consumer Issues
Topic: Productizing an idea
Replies: 28
Views: 1717

Re: Productizing an idea

But then, my concern with premature knock-offs is dilution of the product idea resulting in poor quality early experiences that would affect adoption. This can definitely happen. On the other hand, low-quality knockoffs can sometimes push purchasers to your higher quality version. A few bad reviews...
by bryanm
Fri Nov 15, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: HSA move, does it change the use date?
Replies: 3
Views: 319

Re: HSA move, does it change the use date?

From IRS Publication 969

"An HSA that is funded by amounts rolled over from ... another HSA is established on the date the prior account was established."

I think you're good.
by bryanm
Fri Nov 15, 2019 12:23 pm
Forum: Personal Consumer Issues
Topic: Productizing an idea
Replies: 28
Views: 1717

Re: Productizing an idea

If the idea is genuinely unique and qualifies for a utility patent, my advise is to file for a provisional patent which is relatively easy to do and it will give you an year before filing for a full patent. That sounds like a great option while we test the market. Also good input on Kickstarter bec...
by bryanm
Thu Nov 14, 2019 6:18 pm
Forum: Personal Consumer Issues
Topic: Productizing an idea
Replies: 28
Views: 1717

Re: Productizing an idea

Cheaper knockoffs are coming regardless. There's no stopping that. My point is to not out a ton of time and money into something knowing they are coming... This all has to do with market size and share. If knockoffs gain a large share of a significant market, IP enforcement can be worthwhile. Yes, ...
by bryanm
Thu Nov 14, 2019 6:12 pm
Forum: Personal Consumer Issues
Topic: Productizing an idea
Replies: 28
Views: 1717

Re: Productizing an idea

I am an IP attorney working in the "kitchen gadget" space. The general flow of this process is: Make a prototype device yourself, if possible. Try it out, see if it works, tweak it. Only proceed if you think it works, and you think there is a market for it. Be sure to keep things confidential until ...
by bryanm
Thu Nov 14, 2019 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Study ranks 4,500 colleges by net present value of 40 year ROI
Replies: 52
Views: 6989

Re: Can you guess what this ranked list of colleges is?

Why does one go to college? To make money or to gain an education? Or both? If both, what are the percentages for each goal? Such clarifying questions hopefully would lead to a school choice consistent with one's goals. Or am I misunderstanding the purposes & goals of this article? To gain a badge ...
by bryanm
Sat Nov 09, 2019 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Using my HDHP or my wife's HDHP- Need Help
Replies: 1
Views: 191

Re: Using my HDHP or my wife's HDHP- Need Help

What are you typical or expected health care costs? Are there differences in copay of the respective plans after meeting deductible? How about prescriptions--is the copay the same on both? Subject to answers to the above, I personally would but the whole family on your plan. From what I can tell, yo...
by bryanm
Thu Nov 07, 2019 12:56 pm
Forum: Personal Consumer Issues
Topic: Smart Garage Door Openers
Replies: 34
Views: 2449

Re: Smart Garage Door Openers

I think its worthwhile to also add that you are actually not adding (!) a vulnerability if you are using a smart opener vs a clicker. The old style clicker can be hacked into as well (arguably using more simple technology) vs the opening through an app. I would always assume that these things can b...
by bryanm
Wed Nov 06, 2019 10:58 am
Forum: Personal Consumer Issues
Topic: Smart Garage Door Openers
Replies: 34
Views: 2449

Re: Smart Garage Door Openers

I think the bigger concern here is a password breach, or discovering a vulnerability in the smart opener's internet communications. Presumably, like many smart devices (e.g., Nest), the opener communicates over the internet, not just WiFi. (For example, I assume you can open your garage door remote...
by bryanm
Wed Nov 06, 2019 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Best month to take RMDs?
Replies: 86
Views: 4810

Re: Best month to take RMDs?

aerosurfer wrote:
Wed Nov 06, 2019 10:51 am
"Sell in May and Go Away"

That advice will never be more than 11/12ths incorrect, but I challenge you to a better Jingle.
"Sell in July while the market is high"
by bryanm
Wed Nov 06, 2019 10:52 am
Forum: Investing - Theory, News & General
Topic: Tax Disadvantage of Index Funds
Replies: 10
Views: 1061

Re: Tax Disadvantage of Index Funds

KDF wrote:
Wed Nov 06, 2019 10:48 am
Thank you to everyone for their replies. I was wrong on my facts, and value that it was pointed out to me.
+1! (You might consider adding an edit to your first post noting that this has been resolved, as others might only read that before replying, and not your follow up.)
by bryanm
Wed Nov 06, 2019 10:45 am
Forum: Personal Consumer Issues
Topic: Smart Garage Door Openers
Replies: 34
Views: 2449

Re: Smart Garage Door Openers

My only concern about smart openers is that the wifi could be hacked. Hacking the Wifi will potentially grant access to everything connected in your home. Without a password paired app they won't be able to control your garage door remotely even with Wifi access. Cheers I think the bigger concern h...
by bryanm
Tue Nov 05, 2019 11:52 am
Forum: Personal Consumer Issues
Topic: Electric shavers - foil vs rotary
Replies: 24
Views: 2112

Re: Electric shavers - foil vs rotary

Have you considered something like the Norelco oneblade? You mention that "it doesn't need to be a very close shave." I own both the Braun Series 7 and the oneblade, and find that I use the oneblade more, not because it's better, but because it's easier. I tend to skip days, and the oneblade tends t...
by bryanm
Thu Oct 31, 2019 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: [Just got married] Looking for ways to cut down on my budget
Replies: 80
Views: 6794

Re: How do people live on an average household income of 60K? Looking for ways to cut down on my budget

Student loan = 250K balance, 6% interest rate. Expected payoff in 8-10 years if his income doesn't go up. I am currently maxing out our retirement accounts with the line item budget for the child (since the child isn't here yet) and my 30K-tax of bonus from work now. Trying to see if I need to cut ...
by bryanm
Wed Oct 30, 2019 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Automatic ACH Bank Transfers
Replies: 11
Views: 1161

Re: Automatic ACH Bank Transfers

Sure. I do this with Ally and my local CU.
by bryanm
Mon Oct 28, 2019 6:02 pm
Forum: Personal Consumer Issues
Topic: New Computer with or without SSD?
Replies: 78
Views: 4653

Re: New Computer with or without SSD?

What are these security vulnerabilities? Someone can steal your credit card number when you enter it online? They can find your passwords? Windows 7 has been out a long long time. What possible new vulnerabilities could there be that hasn't been discovered by now? If we knew the vulnerabilities, th...
by bryanm
Mon Oct 28, 2019 4:30 pm
Forum: Personal Consumer Issues
Topic: New Computer with or without SSD?
Replies: 78
Views: 4653

Re: New Computer with or without SSD?

As noted above, the benefits of SSDs should not be understated. While early SSDs had lifespan concerns, those concerns have largely been addressed. Many drives specify a "terabytes written" endurance, which you can use to calculate expected lifespan. For example, this Samsung SSD (first I pulled up)...
by bryanm
Sun Oct 27, 2019 10:12 pm
Forum: Personal Consumer Issues
Topic: Advise please - wireless access point
Replies: 8
Views: 830

Re: Advise please - wireless access point

Ubiquity WAPs are the consensus choice. I recommend the uap ac pro.
by bryanm
Fri Oct 25, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Debating getting a W2 vs 1099 for my contract work
Replies: 33
Views: 1285

Re: Debating getting a W2 vs 1099 for my contract work

DeerRunner wrote:
Fri Oct 25, 2019 11:36 am
The topic of an s-corp may have came up. Everytime I looked into them i wasn't convinced it was the way to go. But worth another look.
The tax benefits of S-Corp status are largely overblown, in my opinion, or else rely on what I would consider dubious tax strategies.
by bryanm
Thu Oct 24, 2019 12:33 pm
Forum: Personal Investments
Topic: 11 Reasons to Carry a Big, Long Mortgage by Ric Edelman.
Replies: 93
Views: 11336

Re: 11 Reasons to Carry a Big, Long Mortgage by Ric Edelman.

2) One of the best and if not - cheapest inflation hedge available today. (not many <<none?>> countries have fixed rate for more than 10 years) This is my #1 reason. The 30 year fixed rate mortgage is an economic Frankenstein , caused by political influences. Theory indicates that we should take ad...
by bryanm
Wed Oct 23, 2019 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3950

Re: When is S Corp better than sole proprietor?

For that deduction, I could probably deduct 25k correct? Only if it is primarily or possibly solely used for business purposes. And most vehicle purchases are deducted on a pro rested yearly basis as a capital expense. So again, for the vast majority of solo owners, mileage is far better and easier...
by bryanm
Wed Oct 23, 2019 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3950

Re: When is S Corp better than sole proprietor?

I may meet with my group and discuss changing C corp to S corp so that everything passes through. Does living in CA (high tax state) factor in? I think S-Corp might be better for CA since you avoid double taxation. Lot's of issues here though if you've got a big group of people. If you're not opera...
by bryanm
Wed Oct 23, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3950

Re: When is S Corp better than sole proprietor?

How is "reasonable compensation" determined? Don't Buffet and Beezos pay themselves very little in wages? You should be able to take the majority of 1099 income as dividends from an s Corp and keep your wages very low. I think if you're making that kind of money, you hire an accounting firm to figu...
by bryanm
Tue Oct 22, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3950

Re: When is S Corp better than sole proprietor?

Every W-2 employer must deduct SS taxes up to the the full MTE. While you can get a credit for the employee share on your 1040 tax return. The employer share is never recoverable. I almost included an "ask Spirit Rider" addendum to my post, and I'm glad you chimed in. That's a huge implication. I w...
by bryanm
Tue Oct 22, 2019 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3950

Re: When is S Corp better than sole proprietor?

Then the only benefit is the liability shield. For which, you have to file a second tax return & run payroll for yourself. (Note: I'm going to call your partner income your "W2" income and your S-Corp income your "1099 income," recognizing that this is inaccurate, because your S-Corp would also iss...
by bryanm
Tue Oct 22, 2019 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: When is S Corp better than sole proprietor?
Replies: 87
Views: 3950

Re: When is S Corp better than sole proprietor?

The general benefit of an S-Corp is that you can pay yourself reasonable compensation, and then take the remaining profits as distributions. Those distributions are not subject to payroll taxes. If your "reasonable compensation" exceeds the social security tax limit, the benefits are relatively smal...
by bryanm
Tue Oct 22, 2019 11:30 am
Forum: Investing - Theory, News & General
Topic: [Paul Merriman: This strategy beats a total stock market fund]
Replies: 173
Views: 14439

Re: This strategy beats a total stock market fund? Really?

You left out the key word of the title: "Opinion" :)

This article is proposing a "tilt" towards small stocks. That's not something new, and if you read up on the board you'll find plenty of discussion. Some favor it, others do not. Here's a wiki entry.
by bryanm
Tue Jul 02, 2019 12:51 pm
Forum: Personal Consumer Issues
Topic: Keep garage 'cooler' during summer
Replies: 31
Views: 3934

Re: Keep garage 'cooler' during summer

Long shot, but here's an out-of-the box answer: Do you have an older electric water heater in the garage? If so, replace it with a heat pump-based water heater (which acts as an A/C for the garage while heating your water). You'll save electricity vs. a traditional heater. In addition, many locales...
by bryanm
Tue Jul 02, 2019 12:05 pm
Forum: Personal Consumer Issues
Topic: Keep garage 'cooler' during summer
Replies: 31
Views: 3934

Re: Keep garage 'cooler' during summer

Long shot, but here's an out-of-the box answer: Do you have an older electric water heater in the garage? If so, replace it with a heat pump-based water heater (which acts as an A/C for the garage while heating your water). You'll save electricity vs. a traditional heater. In addition, many locales ...