Search found 270 matches

by StevenNJ1
Tue Apr 29, 2014 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Life Term Insurance? 32 yrs old. [Help requested]
Replies: 41
Views: 4009

Life Term Insurance? 32 yrs old. [Help requested]

Hi all. I know that in the life insurance industry there are many things one should know before diving in and lots of times people get taken advantage of. I am hoping that I can get some advice for my situation. This board has been excellent so far and I appreciate it. My situation ... I am 32, no h...
by StevenNJ1
Mon Apr 28, 2014 8:50 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

Re: My first 401K Plan ... Help Needed Please.

So, to put in in numbers ... with 1.6% expense .. how much money is lost at the end of the day? if one can put it that way Assume that the Target Date American Funds 2045 Target Date-R2 has an annual expense rate of 1.49%. Assume that it has no load. Assume that a comparable fund, ACME's Target Ret...
by StevenNJ1
Mon Apr 28, 2014 8:20 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

Re: My first 401K Plan ... Help Needed Please.

Age: 32 Desired Asset allocation: Not sure Desired International allocation: Not sure At age 32, something around 75/25 stocks/bonds would be fairly typical: 2011 regression . Please also see wiki, on risk . International stocks at about 30% of stocks is reasonable, in my opinion. Vanguard, 'Consid...
by StevenNJ1
Mon Apr 28, 2014 5:01 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

Re: My first 401K Plan ... Help Needed Please.

Hi, OK, your 2045 Target Fund is not much of a bargain either. Do you know what the allocation of stocks to bonds is in that fund? Most funds of this type are 80 -90% stocks, which is really aggressive for any age. (Age in bonds is an often-cited guideline around here.) If your co-workers are doing...
by StevenNJ1
Mon Apr 28, 2014 4:08 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

Re: My first 401K Plan ... Help Needed Please.

Welkcome to the forum :) . 401K Info Fund name = American Funds Current allocation = Set 2045 Target Date . . . . . Questions: 1) What is the best way to allocate my 401K investments? What is the expense ratio charged on the 2045 Target Date fund? If low enough a TR fund may be your best bet in the...
by StevenNJ1
Mon Apr 28, 2014 3:40 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

Re: My first 401K Plan ... Help Needed Please.

Hi and welcome. Compound interest and the growth of investments is a really good thing. Investment growth in a tax-deferred situation is even better. A salary bonus (401(k) match) is free money. Not to rub it in, but you have missed out on all of these for a decade. What you may not yet understand,...
by StevenNJ1
Mon Apr 28, 2014 2:58 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

Re: My first 401K Plan ... Help Needed Please.

At your income, you should max out 401K. If salary is 140K, it would be 12.5% of your salary. At your bracket it should be trad 401k. Also, you might not be eligible for direct roth ira but you can contribute to it through what is called backdoor roth" method. Your 401K has some expensive opti...
by StevenNJ1
Mon Apr 28, 2014 12:47 pm
Forum: Personal Investments
Topic: My first 401K Plan ... Help Needed Please.
Replies: 49
Views: 6284

My first 401K Plan ... Help Needed Please.

So, after being on a workforce for almost 10 years and learning about 401K just recently (shame on me), I now have a 401K plan with my employer where they match 4% of my salary. I already see money in my account and right now it's all sitting in a Target Date American Funds 2045 Target Date-R2 (cute...
by StevenNJ1
Fri Apr 11, 2014 4:20 pm
Forum: Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 3944

Re: Taxes with New Accountant ... Is this for real??? Invest

I think I might have given you guys wrong info ... not state tax .... city tax is what I am now not paying to NY
by StevenNJ1
Fri Apr 11, 2014 1:00 pm
Forum: Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 3944

Re: Taxes with New Accountant ... Is this for real??? Invest

If I can't write off my TIRA contributions, then how valuable is that TIRA? I think I may rather want that $5,500 in my pocket. No?
by StevenNJ1
Fri Apr 11, 2014 12:53 pm
Forum: Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 3944

Re: Taxes with New Accountant ... Is this for real??? Invest

So, for the last 4-5 years, even though my drivers license address was and still in state of NJ (i rent there too), I was showing that I live in New York (also where I currently work). Huh? How are you "showing" that you live in New York? What does that mean? I have 2 addresses. My driver...
by StevenNJ1
Fri Apr 11, 2014 12:40 pm
Forum: Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 3944

Re: Taxes with New Accountant ... Is this for real??? Invest

What my real question is .... do I need to contribute $5,500 to IRA right now? If I can't really grow it like 401k grows, then what's the point of these $5,500 sitting in there? I understand that I can take it out at 60yr but I am looking to grow my funds for a downpayment. thoughts?
by StevenNJ1
Fri Apr 11, 2014 10:45 am
Forum: Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 3944

Re: Taxes with New Accountant ... Is this for real??? Invest

just curious why he said i can't continue contributing to it if i have a 401k from employer. weird
by StevenNJ1
Fri Apr 11, 2014 9:42 am
Forum: Personal Investments
Topic: Taxes with New Accountant ... Is this for real??? Investing
Replies: 33
Views: 3944

Taxes with New Accountant ... Is this for real??? Investing

Hi all Before my NEW accountant submits my tax return electronically today, I really wanted to hear feedback on what he calculated and if it makes any sense. This just sound a bit too good to be true. So, for the last 4-5 years, even though my drivers license address was and still in state of NJ (i ...
by StevenNJ1
Tue Apr 08, 2014 9:33 am
Forum: Personal Investments
Topic: How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust
Replies: 41
Views: 7209

Re: How Ignorant am I? 5yr on Job, No 401k. 100K collecting

So, our 401K plan is with American Funds .... and my options are: Growth Investment RERBX RGABX RNGBX RSLBX Growth and income investment RWIBX RFNBX Equity-income investment RIRBX Balanced investments RLBBX Bond investment RBFBX RGVBX Cash equivalent RABXX Is that the info you guys need to give feed...
by StevenNJ1
Mon Apr 07, 2014 3:59 pm
Forum: Personal Investments
Topic: How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust
Replies: 41
Views: 7209

Re: How Ignorant am I? 5yr on Job, No 401k. 100K collecting

1. Start contributing to your 401(k). Put in at least the amount your employer will match. If it is a good plan, max it out. 2. If you are going to buy a house in ~5 years (or less), keep the money for a down payment. Put aside at least 20% of what you think you might buy. You will be able to avoid...
by StevenNJ1
Mon Apr 07, 2014 1:27 pm
Forum: Personal Investments
Topic: How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust
Replies: 41
Views: 7209

Re: How Ignorant am I? 5yr on Job, No 401k. 100K collecting

the good news is most of your friends that are 30 have $0 saved and are maybe even in debt and possibly still living at home... trust me I know plenty who fall in at least 1 or all 3 of those categories at 30. So now your enlightened, better at 30 than at 40. read this forum everyday, and max out y...
by StevenNJ1
Fri Apr 04, 2014 10:42 pm
Forum: Personal Investments
Topic: How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust
Replies: 41
Views: 7209

Re: How Ignorant am I? 5yr on Job, No 401k. 100K collecting

You should absolutely max out all tax sheltered space every possible year. That means 17.5k in the 401k and 5.5k in whichever IRA you can contribute to. And following some stock picker would be a bigger bonehead move then not contributing to your retirement so far. Stocks are a crap shoot at best. ...
by StevenNJ1
Fri Apr 04, 2014 4:57 pm
Forum: Personal Investments
Topic: How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust
Replies: 41
Views: 7209

Re: How Ignorant am I? 5yr on Job, No 401k. 100K collecting

I wanted to do a multiquote to thank every one who wrote back with suggestions, .... just don't see that option here. oh, found it :-) Max out 401k contribution for 2014. That's 17.5K. Max out IRA contribution for 2013. $5,500. Deadline for 2013 IRA contribution is April 15, 2014. Max out IRA contri...
by StevenNJ1
Fri Apr 04, 2014 1:17 pm
Forum: Personal Investments
Topic: How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust
Replies: 41
Views: 7209

How Ignorant am I? 5yr on Job, No 401k. 100K collecting dust

Hi all. Glad I found this forum as I see great advice being given to folks here. Just now I am realizing how stupid I was about my finances. I have a 6 figure salary and I am single. My taxes that I pay each year are crazy (33% or so). All money that I get paid (60% salary, 40% commission bonus) is ...