Search found 270 matches

by StevenNJ1
Thu Dec 29, 2016 2:23 pm
Forum: Personal Investments
Topic: To 401k or IRA in 2016? Please Help.
Replies: 13
Views: 1222

Re: To 401k or IRA in 2016? Please Help.

What funds are you using in the old 401k? What funds are offered in the new 401k? Please give the fund names, tickers and expense ratios. Old 401k Plan I have my money in Vanguard funds (VFIAX, VTIAX and VEXAX). 0.91% expense per fund. 70% VFIAX 15% VTIAX 15% VEXAX My New plan Voya Target Solution ...
by StevenNJ1
Thu Dec 29, 2016 11:37 am
Forum: Personal Investments
Topic: To 401k or IRA in 2016? Please Help.
Replies: 13
Views: 1222

To 401k or IRA in 2016? Please Help.

Hello, Hope I can get some feedback on this question. I have not had 401k offered to me in 2016 and did not contribute to my old 401k that's been sitting with my past employer. I just became eligible for a new 401k about a week ago but have not yet signed up. What should I do? Avoid 401k in 2016 to ...
by StevenNJ1
Thu Nov 03, 2016 9:45 pm
Forum: Personal Investments
Topic: Help! This is my new 401k plan. Worth transferring old 401k into it?
Replies: 11
Views: 1867

Re: Help! This is my new 401k plan. Worth transferring old 401k into it?

If you want to use the back door to contribute to Roth IRA, rolling the old 401k over to IRA will interfere. Your new 401k is decent if you use the right funds. Not the best we've seen, but plenty good enough. But the question of the costs of your old 401k is a good one. How did you arrive at .91%?...
by StevenNJ1
Thu Nov 03, 2016 2:23 pm
Forum: Personal Investments
Topic: Help! This is my new 401k plan. Worth transferring old 401k into it?
Replies: 11
Views: 1867

Help! This is my new 401k plan. Worth transferring old 401k into it?

Hello, About me: 35yr old, single, 6 figure salary, live in NJ. I have investments in my old 401k plan that stayed with a former employer. My fee there is 0.91% for my 3 fund investment portfolio. I have my money in Vanguard funds (VFIAX, VTIAX and VEXAX). Total 0.91% expense fees. The new company I...
by StevenNJ1
Tue Nov 01, 2016 9:17 pm
Forum: Personal Investments
Topic: 0.91% Expense fees on my old 401k plan. Roll to IRA?
Replies: 13
Views: 1824

Re: 0.91% Expense fees on my old 401k plan. Roll to IRA?

If I understood you correctly, I was thinking about it as well. I was thinking that if I am able to get 401k this year I can just lump my entire check into 401k, right? I can't put more into 401k than my check? Meaning, I can't fund 401k with my bank account, only payroll, so my maximum would be wh...
by StevenNJ1
Tue Nov 01, 2016 6:47 pm
Forum: Personal Investments
Topic: 0.91% Expense fees on my old 401k plan. Roll to IRA?
Replies: 13
Views: 1824

Re: 0.91% Expense fees on my old 401k plan. Roll to IRA?

I'd 1st look to see if the new 401k has low expenses, but I am assuming that OP wants to use the Backdoor Roth. If not, I'd definitely roll the old 401k into an IRA. Well, I do plan to invest in my new job's 401k so I'll most likely find myself funding a backdoor roth IRA in the future? Question is...
by StevenNJ1
Tue Nov 01, 2016 3:18 pm
Forum: Personal Investments
Topic: 0.91% Expense fees on my old 401k plan. Roll to IRA?
Replies: 13
Views: 1824

Re: 0.91% Expense fees on my old 401k plan. Roll to IRA?

I'd 1st look to see if the new 401k has low expenses, but I am assuming that OP wants to use the Backdoor Roth. If not, I'd definitely roll the old 401k into an IRA. Well, I do plan to invest in my new job's 401k so I'll most likely find myself funding a backdoor roth IRA in the future? Question is...
by StevenNJ1
Tue Nov 01, 2016 12:29 pm
Forum: Personal Investments
Topic: 0.91% Expense fees on my old 401k plan. Roll to IRA?
Replies: 13
Views: 1824

0.91% Expense fees on my old 401k plan. Roll to IRA?

Just spoke to the account manager at my old company's 401k plan and they explained that they charge an annual fee of 0.91% for my 3 stock investment portfolio. I have my money in Vanguard funds (VFIAX, VTIAX and VEXAX). I am no longer with the company and do not have any IRA accounts. Is .91% a good...
by StevenNJ1
Tue Nov 01, 2016 9:50 am
Forum: Personal Investments
Topic: Buying Dividend Only Stocks? Book I just read.
Replies: 16
Views: 3471

Buying Dividend Only Stocks? Book I just read.

Just read a book called "Stock Market Investing for Beginners: How Anyone Can Have a Wealthy Retirement by Ignoring Much of the Standard Advice" https://www.amazon.com/Stock-Market-Investing-Beginners-Retirement-ebook/dp/B005YUXIUU There, author argues for buying long term stocks, however ...
by StevenNJ1
Mon Oct 31, 2016 8:23 pm
Forum: Personal Investments
Topic: Should I roll over my old 401k to IRA? Please help.
Replies: 14
Views: 2345

Re: Should I roll over my old 401k to IRA? Please help.

Sorry. You mentioned "rollover IRA" so I thought you meant you already had one. So, instead, it appears you were talking about the Rollover IRA that will exist if/when you roll the old 401k into an IRA. Suggest you wait to see the new plan to make any decisions. In the meantime, learn abo...
by StevenNJ1
Mon Oct 31, 2016 7:25 pm
Forum: Personal Investments
Topic: Should I roll over my old 401k to IRA? Please help.
Replies: 14
Views: 2345

Re: Should I roll over my old 401k to IRA? Please help.

If your new 401k has good options, consider rolling the old 401k into the new one. Match doesn't matter. If the new 401k does not have good options, consider rolling the old 401k into an IRA at the custodian of your choice. The downside is that you will not be able to use the "back door" ...
by StevenNJ1
Sat Oct 29, 2016 4:28 pm
Forum: Personal Investments
Topic: Should I roll over my old 401k to IRA? Please help.
Replies: 14
Views: 2345

Re: Should I roll over my old 401k to IRA? Please help.

I'd like to clarify something. I currently do not have any IRA accounts. For the year 2016, at least until December of this year I will not have a 401k option, which means that I contributed $0 in the year 2016, only watched my old 401k grow a bit (shows 4.6% growth). My new plan starts either Decem...
by StevenNJ1
Sat Oct 29, 2016 3:44 pm
Forum: Personal Investments
Topic: Should I roll over my old 401k to IRA? Please help.
Replies: 14
Views: 2345

Should I roll over my old 401k to IRA? Please help.

I hope folks here can suggest what I should do with my old 401k. I am in mid 30s, not married, 6 figure salary. Enough personal savings for a 20% home down payment that's happening soon. I have about $20k in my old 401k with company I left. After I made a big deal about our crazy expenses, they've w...
by StevenNJ1
Thu Oct 27, 2016 4:59 pm
Forum: Personal Investments
Topic: Go easy on me. New "investor"
Replies: 2
Views: 595

Go easy on me. New "investor"

Hi all, After looking at my "fake"/"as if" portfolio I created on google finance about 2 years ago and seeing how time and time again I notice that stocks (individual stocks) I was meaning to buy but never did shot up like crazy. Had a chance to buy Amazon at $296 but didn't. Had...
by StevenNJ1
Tue Jul 12, 2016 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: I am doing this! First time Home Buyer. How do you choose an Attorney?
Replies: 16
Views: 2166

Re: I am doing this! First time Home Buyer. How do you choose an Attorney?

This is a somewhat simple sale of a townhouse that has been very well maintained. Not sure if using an attorney suggested by our realtor is a problem.
by StevenNJ1
Tue Jul 12, 2016 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: I am doing this! First time Home Buyer. How do you choose an Attorney?
Replies: 16
Views: 2166

I am doing this! First time Home Buyer. How do you choose an Attorney?

We gave an offer on a residential single family home and it was accepted and now, we're going into the Attorney Review process. My real estate agent is providing info but I wanted to check with folks here to see if there is more information to be had that my agent may not be sharing. My real estate ...
by StevenNJ1
Wed Jul 06, 2016 6:10 am
Forum: Personal Finance (Not Investing)
Topic: Townhouse VS Stand Alone House ?
Replies: 8
Views: 1842

Townhouse VS Stand Alone House ?

Hi, I know it may be more of a personal choice and never having my own house for all these years living with neighbors around me, I am not too afraid of having a neighbor on both side of my townhouse. However, I am curious if there are more pros and cons for both. We are a family of 4 (Me, my wife a...
by StevenNJ1
Tue Jun 28, 2016 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Agent works for same company that represents Seller
Replies: 8
Views: 5071

Buying Agent works for same company that represents Seller

Looking at the contract (initial offer), I noticed that my buying agent works for same "big name" real estate company that is representing the seller, HOWEVER, he is not the seller's agent.

Is this a problem?
by StevenNJ1
Tue Jun 28, 2016 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house that doesn't get any bids. Having Cold Feet!
Replies: 13
Views: 2542

Re: Buying a house that doesn't get any bids. Having Cold Feet!

Non7WoodUser wrote:Offer at least 25% below asking price.
They initially started at 375, and little by little went down to 359. I am offering 320. Looking at similar properties nearby and it's easy because it's a townhouse in a community that is identical to others, at least I can compare what sold recently.
by StevenNJ1
Tue Jun 28, 2016 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house that doesn't get any bids. Having Cold Feet!
Replies: 13
Views: 2542

Re: Buying a house that doesn't get any bids. Having Cold Feet!

Better to offer below the asking price on a house that's been on the market for a long time with no action than get into a bidding contest, as long as it's in the condition you know about and a good fit for your needs. I'd not skimp on the inspection, nor take the realtor's referral to an inspector...
by StevenNJ1
Tue Jun 28, 2016 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house that doesn't get any bids. Having Cold Feet!
Replies: 13
Views: 2542

Buying a house that doesn't get any bids. Having Cold Feet!

I am in a process of giving an offer on a townhouse that has been on the market for a long time (over 6 months). I am like that woman at the alter ... if no one else wants by man, maybe I shouldn't as well? :-) Anyway. They did overprice it, but still. On the side question ... I know that you can wr...
by StevenNJ1
Tue Jun 28, 2016 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: 15K Deposit after Attorney Review. Buying a house. Is this Normal???
Replies: 31
Views: 4202

15K Deposit after Attorney Review. Buying a house. Is this Normal???

Hi all, I am submitting an offer on a townhouse I plan on buying and I am being asked to give at least 10k 10 days after attorney review process, that is assuming that seller accepts my offer. Is this a normal procedure? This place is not hot and they don't have any other offers at this moment. Why ...
by StevenNJ1
Sun Jun 05, 2016 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance ... a sure way to get Wealthy?
Replies: 19
Views: 4458

Re: Life Insurance ... a sure way to get Wealthy?

Thank you all for your feedback. Some was pretty funny.
Appreciate it!
by StevenNJ1
Sun Jun 05, 2016 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance ... a sure way to get Wealthy?
Replies: 19
Views: 4458

Life Insurance ... a sure way to get Wealthy?

Hello folks. Sitting with a friend yesterday and chatting about life, business and money. He all of a sudden mentions something he heard from a "respectful" source. A guy told him that smart people buy multiple life insurance policies, somewhat small coverage, but multiple, and towards the...
by StevenNJ1
Mon May 30, 2016 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

Also, my 1099 direct deposits through ACH ,,,, will those be already taxed or do I pay taxes at the end of the year on that income? It really is time for you to understand, and demonstrate in your questions that you understand, the difference between withholding and taxing. I agree. So, to make my ...
by StevenNJ1
Mon May 30, 2016 7:39 am
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

I simply wanted to know, if someone is giving me 1,000 dollars, with my situation, I can assume that ultimately I am getting about $650 net. correct! Now, if I was married with 2 kids, that 33% would most likely drop to 29%? ballpark. You've been pointed in this direction before - you really need t...
by StevenNJ1
Mon May 30, 2016 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 58
Views: 5598

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

I am well aware that buyer's agent motives will not always align with the buyer motives. After working with 2 agents at the same time currently, I see the benefit of one showing you houses in areas he is familiar with and another one doing their areas. Also ... when one is not available, the other i...
by StevenNJ1
Sun May 29, 2016 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 58
Views: 5598

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

Most buyers agents will want you to be exclusive with them. If you find someone you like then this shouldn't be an issue. I definitely agree that you do not want 1 agent representing the seller and buyer. Just use Redfin and save money. With the Internet and MLS available, agents offer little benef...
by StevenNJ1
Sun May 29, 2016 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Why am I paying 36% tax on W2 salary ???
Replies: 18
Views: 4915

Re: Why am I paying 36% tax on W2 salary ???

Looking at my paychecks from past employer (living in NJ, working in NYC) (on W2 from employer) at salary of 145k at that time, I am showing that I paid 36% tax on my paychecks. I was showing 0 dependents and filed as Single. Still, 36% ??? Did their accountant mess something up? thank you Change y...
by StevenNJ1
Sun May 29, 2016 8:31 am
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

celia wrote:
StevenNJ1 wrote:I simply wanted to know, if someone is giving me 1,000 dollars, with my situation, I can assume that ultimately I am getting about $650 net.
correct!
Now, if I was married with 2 kids, that 33% would most likely drop to 29%? ballpark.
by StevenNJ1
Sat May 28, 2016 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

Breakdown of my biweekly paycheck. Gross pay = 6,153.85 Federal income tax = 381.54 Medicare Tax = 89.23 NJ State Income Tax = 336.16 NJ SUI/SDI Tax = 43.38 Net Pay = $3,959.73 So, what's my tax rate based on this paycheck? Will this $1,000 check have the same 35% loss? Probably not, but curious to...
by StevenNJ1
Sat May 28, 2016 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-Approval Letter ... Am I over-complicating things?
Replies: 5
Views: 901

Re: Pre-Approval Letter ... Am I over-complicating things?

I need to submit an offer for a house we like. Real estate agent (buyers agent) is offering his guy from Coldwell Banker. Do I just get it done there or is it smarter to go through someone like a mortgage broker who makes banks compete? I have no doubt that I'll get pre-approved for amount we're wi...
by StevenNJ1
Sat May 28, 2016 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

Breakdown of my biweekly paycheck. Gross pay = 6,153.85 Federal income tax = 381.54 Medicare Tax = 89.23 NJ State Income Tax = 336.16 NJ SUI/SDI Tax = 43.38 Net Pay = $3,959.73 So, what's my tax rate based on this paycheck? Will this $1,000 check have the same 35% loss? Probably not, but curious to...
by StevenNJ1
Sat May 28, 2016 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Pre-Approval Letter ... Am I over-complicating things?
Replies: 5
Views: 901

Pre-Approval Letter ... Am I over-complicating things?

I need to submit an offer for a house we like. Real estate agent (buyers agent) is offering his guy from Coldwell Banker. Do I just get it done there or is it smarter to go through someone like a mortgage broker who makes banks compete? I have no doubt that I'll get pre-approved for amount we're wil...
by StevenNJ1
Sat May 28, 2016 8:36 am
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

Will this $1,000 check have the same 35% loss? Probably not, but curious to know what it will be approximately It's going to be more and again I'm not sure why you think it would be less. Because it's only $1000? That's not how the tax system works. This income gets lumped in with your regular inco...
by StevenNJ1
Sat May 28, 2016 7:53 am
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

I am not sure what they'll send me at the end of the year. It may very well be a 1099. So, filing as single, how much net profit will I get from that $1,000? Around 700? I am looking for a ballpark number. For reference ... my W2 paycheck, gross salary compared to net is about 35.8% difference. Fili...
by StevenNJ1
Sat May 28, 2016 7:12 am
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

Re: $1,000 per month personal check. Tax question.

This is a paycheck for services performed but I am assuming that if I usually pay 35% on my W2, this paycheck would be taxed less as like I said, I already paid my usual taxes on my salary?
by StevenNJ1
Sat May 28, 2016 6:43 am
Forum: Personal Finance (Not Investing)
Topic: $1,000 per month personal check. Tax question.
Replies: 36
Views: 4993

$1,000 per month personal check. Tax question.

Hi all,

I have a standard salary of over 150k/yr. On top of that someone is going to be giving me a personal check in an amount of around $1,000 per month. How much taxes would I pay on that $1,000 considering that my salary of 150k on W2 paid for most of my yearly taxes.

Thank you.
by StevenNJ1
Sun May 22, 2016 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Let's forget about 600k.... I am at 500k now tops. My questions really is ... when you HAVE to buy now and you're short 15-20k to be at 20%, what do you do? Please don't suggest to wait until you get that extra 20k. I need to purchase a home now and can not continue a horrible commute for another 1...
by StevenNJ1
Sun May 22, 2016 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Why am I paying 36% tax on W2 salary ???
Replies: 18
Views: 4915

Re: Why am I paying 36% tax on W2 salary ???

Possible taxes are Federal, NY State, NY City(?), Social Security, and Medicare. With a minimal number of exemptions I would think total of withholding and FICA paid could easily be that. You are clear on the difference between income tax withholding and actual taxes paid after refunds or tax due o...
by StevenNJ1
Sun May 22, 2016 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Why am I paying 36% tax on W2 salary ???
Replies: 18
Views: 4915

Why am I paying 36% tax on W2 salary ???

Looking at my paychecks from past employer (living in NJ, working in NYC) (on W2 from employer) at salary of 145k at that time, I am showing that I paid 36% tax on my paychecks.

I was showing 0 dependents and filed as Single. Still, 36% ??? Did their accountant mess something up?

thank you
by StevenNJ1
Sun May 22, 2016 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 58
Views: 5598

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

I am buying.
Just trying to see which agent would work out best and what to look for.
I know that all of them can show me a house but real value is in their knowledge of area, house, ...?
by StevenNJ1
Sat May 21, 2016 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Let's forget about 600k.... I am at 500k now tops. My questions really is ... when you HAVE to buy now and you're short 15-20k to be at 20%, what do you do? Please don't suggest to wait until you get that extra 20k. I need to purchase a home now and can not continue a horrible commute for another 1...
by StevenNJ1
Sat May 21, 2016 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

If you insist on buying, a 401k loan is a good option. I only have around 20k in my 401k. Didn't start 401k till 2 years ago. You're burying the lede here - while there are several financing alternatives should you be just short of 20% down on a house (Home Equity Loan, Personal Loan, 401(k) loan, ...
by StevenNJ1
Sat May 21, 2016 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Non7WoodUser wrote:If you insist on buying, a 401k loan is a good option.
I only have around 20k in my 401k. Didn't start 401k till 2 years ago.
by StevenNJ1
Sat May 21, 2016 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Let's forget about 600k.... I am at 500k now tops. My questions really is ... when you HAVE to buy now and you're short 15-20k to be at 20%, what do you do? Please don't suggest to wait until you get that extra 20k. I need to purchase a home now and can not continue a horrible commute for another 12...
by StevenNJ1
Sat May 21, 2016 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Thanks to all that gave valuable input. If I were to rent a place there, it would cost around $2,300-$2,700/month and it's tough to find something nowadays. I want to cap my house budget at 500k. Even at 500k, I'd be comfortable giving 17-18% but not 20%. I do have to make the move now due to commute.
by StevenNJ1
Sat May 21, 2016 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 58
Views: 5598

Exclusivity and Real Estate Agents. Agree or Disagree?

Began my search for an agent I'll work with though I have no problem of using 2-3 at the same time. However, spoke with one that wanted to be exclusive agent. Your thoughts? I heard that you don't want the same agent who is the seller's agent to be your buyer's agent. True? How would you go about fi...
by StevenNJ1
Sat May 21, 2016 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?
Replies: 56
Views: 6075

Re: Buying our 1st House. What do you do when you can only put down 15% instead of 20%?

Back when my salary was 178k, I would only allow myself to buy a 400k house. That calculator to 750k seems off to me. That being said, I was in a position of secure income increases back then and ended up buying a house for 837k when my salary was in 300sK. I only had 5% saved but it was my rule to...