Search found 180 matches

by cals400ex
Tue Sep 18, 2012 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: surrender life insurance policy?
Replies: 19
Views: 3815

Re: surrender life insurance policy?

I am single without any children. I don't think I need a life insurance policy right now unless you all disagree. This policy is auto-rebalancing. So, I don't specifically write them a check. I have only had this policy less than a year but from my understanding it just takes some money out of the p...
by cals400ex
Tue Sep 18, 2012 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: surrender life insurance policy?
Replies: 19
Views: 3815

surrender life insurance policy?

My previous financial advisor signed me up for a life insurance policy with john hancock. I had retirement accounts at edward jones and with td ameritrade. Everything was a cluster so I transferred everything over to Vanguard so I knew what was going on (I ditched the FA). I am only 30 years old and...
by cals400ex
Wed Aug 29, 2012 11:59 am
Forum: Personal Investments
Topic: Portfolio help (late 20s)
Replies: 6
Views: 857

Re: Portfolio help (late 20s)

What is the benefit of investing more heavily in the 401 vs. the roth, besides the company price match? For example, would you still recommend investing more heavily in the 401k if they didn't have a match?
by cals400ex
Thu Aug 23, 2012 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: taking out a loan to pay for student loans?
Replies: 8
Views: 871

Re: taking out a loan to pay for student loans?

I only work 4 days a week, 32 hours. I can't work at any other location or add additional hours...That was part of the deal when I signed on with the company. With all of my loans being consolidated in one place, I don't know if I can take some and add them to a 0% credit card. My car is totally pai...
by cals400ex
Thu Aug 23, 2012 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: taking out a loan to pay for student loans?
Replies: 8
Views: 871

taking out a loan to pay for student loans?

I currently have student loans that total $180,000. I recently consolidated to simplify all of my loans into one and I was able to get a very slight interest rate reduction (6.8% was dropped to 6.625%). I have considered transferring some to a 0% credit card or taking out a loan if I can get an inte...
by cals400ex
Wed Aug 15, 2012 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: finding the best mortgage interest rates
Replies: 11
Views: 2894

Re: finding the best mortgage interest rates

I do agree that I need to get rolling with this as quickly as I can. I am not a member with costco. I would prefer a fixed rate as well.
by cals400ex
Mon Aug 06, 2012 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: finding the best mortgage interest rates
Replies: 11
Views: 2894

finding the best mortgage interest rates

I am in the process of buying a house and I am looking for the best rates. I have not went to any of my local banks yet. Does anyone use an online bank or do you use your local bank? I know some extra fees can apply depending on the bank used. Any suggestions on banks to use would be great.
by cals400ex
Sun Aug 05, 2012 8:48 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

Do you know what the accountants used for expected returns? If they used 10% for equities, it would not surprise me that they could show that investing was better financially. The problem is you are not guaranteed 10%. Paying off the loans is a guaranteed 6.8%. A guaranteed 6.8% trumps an equity ri...
by cals400ex
Sun Aug 05, 2012 8:45 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

[/quote] Do you know what the accountants used for expected returns? If they used 10% for equities, it would not surprise me that they could show that investing was better financially. The problem is you are not guaranteed 10%. Paying off the loans is a guaranteed 6.8%. A guaranteed 6.8% trumps an e...
by cals400ex
Sat Aug 04, 2012 5:17 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

For the record, the 401K next year will NOT have a match, unfortunately. Also, take this with a grain of salt too. I spoke with two accountants that went through the math you are talking about. There is no way I could replicate that as it took up a few pages of paper when it was typed. They both sug...
by cals400ex
Sat Aug 04, 2012 2:05 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

cals400ex , since you will have a 401k next year and that makes the deductible tIRA impossible then, I would use the Backdoor Roth IRA option this year even though you could deduct a tIRA. That way next year when you can't deduct and will have to use the backdoor method, you won't have any assets i...
by cals400ex
Fri Aug 03, 2012 2:43 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

So, it looks like I have many options for this year (since I am not eligible for the 401K until 2013): 1. tIRA and use backdoor method to place it in a roth 2. Taxable account (with international index funds) 3. Deferred annuities (variable annuities) 4. HSA 5. Ibonds 6. ESA 7. EE bonds It looks lik...
by cals400ex
Fri Aug 03, 2012 2:37 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

jared wrote:Perhaps you've already considered this, but is there any particular reason you don't want to make a deductible contribution to a traditional IRA?

This is one of my plans. I want to max out (5K this year) a tIRA and use the backdoor method to place it in my roth.
by cals400ex
Fri Aug 03, 2012 12:25 pm
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

Are you able to incorporate (set up LLC to be paid through) yourself through the type of work you perform? If so SEP or SIMPLE IRA (not traditional IRA) is an option. I am not able to do that. I will likely use the backdoor IRA method this year. Starting next year I will be able to invest in the 40...
by cals400ex
Fri Aug 03, 2012 12:21 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I am currently paying 3K a month on my student loans. Yes, I sure hope I made a good decision. I need to start looking at other ways I can invest since I will likely be making over the 125K a year, making me ineligible to invest in this roth. Good for you! Stay here and continue to learn. As you ha...
by cals400ex
Fri Aug 03, 2012 11:10 am
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I am currently paying 3K a month on my student loans.

Yes, I sure hope I made a good decision. I need to start looking at other ways I can invest since I will likely be making over the 125K a year, making me ineligible to invest in this roth.
by cals400ex
Fri Aug 03, 2012 11:04 am
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

Default User BR wrote:A regular taxable brokerage account. Place the most tax-efficient holdings there.


Brian

I assume you mean open a taxable account and place "total market index funds," etc. in it? I assume the all in one target retirement fund isn't as tax efficient because it has a total bond market index fund?
by cals400ex
Fri Aug 03, 2012 10:58 am
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

http://www.bogleheads.org/wiki/Backdoor_Roth_IRA I currently have a roth at vanguard, but no traditional. Just so I have the backdoor method correct.......... 1. open traditional ira with 5K 2. when it posts on vanguard, buy shares with my current roth ira at vanguard by selling shares of my traditi...
by cals400ex
Fri Aug 03, 2012 10:44 am
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Re: Other options besides Roth and 401K?

Sorry, I meant to say that I can't invest in a roth......due to AGI. I will edit the first post.
by cals400ex
Fri Aug 03, 2012 10:17 am
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

Ok, I just made a decision. I transferred everything I have at edward jones and td ameritrade over to the vanguard 2040 target retirement fund. I do not have any taxable or tax deferred accounts, its all in a roth. Now that everything is with vanguard, I can trade things around as I learn more. For ...
by cals400ex
Fri Aug 03, 2012 9:49 am
Forum: Personal Investments
Topic: Other options besides Roth and 401K?
Replies: 39
Views: 5439

Other options besides Roth and 401K?

If you make more than 125K a year ( I am single and 30 years old) and can not contribute to a Roth IRA and your job doesn't offer a 401K, what other options do you have? I am just browsing for options....... 1. Make sure all debt is paid off. 2. Open a taxable account or traditional ira. 3. I have b...
by cals400ex
Thu Aug 02, 2012 11:05 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

Yes, this is definitely confusing for someone who has not seen it before, like myself. I tried to put everything in post #2 by reading it off of my June 2012 statement. I am sorry that the format is a bit different. I honestly don't know how to put it in your preferred format, even with the link to ...
by cals400ex
Thu Aug 02, 2012 8:03 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I honestly don't know how to transfer this over from td ameritrade and edward jones to a tax deferred or a taxable account. How do you have that option? Or, do you transfer it over and then place it where you want it?
by cals400ex
Thu Aug 02, 2012 7:47 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

When I heard "target retirement fund," I thought that was referring to an "all in one" retirement fun in comparison to the 3-fun portfolio. I realize they use the same 3 funds.
by cals400ex
Thu Aug 02, 2012 7:09 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I can not lower the interest rate on my student loans......I have already looked into that. It is the fixed 6.8%, even if I consolidate. You are correct with the 1%. I do agree with you both, that is a big deal. I am currently directing all extra money into my student loans, since I am not eligible ...
by cals400ex
Thu Aug 02, 2012 1:53 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I updated my 401K details in my 2nd post. I get between 2-3% interest from my checking accound at First National Bank (Staunton Illinois) with their value checking account (up to 15K in the account). I would like to invest in a Roth IRA if I can this year. If not, I may have to look into a tradition...
by cals400ex
Thu Aug 02, 2012 12:24 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I would prefer to invest more while I am younger and pay off my student loans at a slightly slower rate. I know the interest will be quite high, but with me investing quite a bit each year I believe, with compounding, I would be better off in the end. Everyone has a different thought process here an...
by cals400ex
Thu Aug 02, 2012 10:47 am
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

Re: financial advisor's portfolio for me..........yes or no?

I have done some reading to catch up on some things. I have also updated my 2nd post with more valuable information to help you give advice. Thanks again.
by cals400ex
Wed Aug 01, 2012 9:30 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

financial advisor's portfolio for me..........yes or no?

Single 6-months of emergency funds in high interest checking account (~2-3%) $190K student loans at 6.8% $170K mortgage at 3.4% Illinois 5% tax bracket, Federal 28% tax bracket 30 years old Asset allocation: 70/30 I am not exactly sure what % of international allocation I would like....Probably betw...
by cals400ex
Wed Aug 01, 2012 9:08 pm
Forum: Personal Investments
Topic: financial advisor's portfolio for me..........yes or no?
Replies: 37
Views: 3880

explain pretax, posttax and taxable accounts?

Hello, I am new to the investing scene but I need to learn and get started. I have been told it is good to invest in all of these 3 accounts. I understand a roth ira will not be taxed when you remove money, and a traditional ira/401k is the opposite. I don't really understand what a taxable account ...