Bogleheads.org

Tamarind

I would say address the behavioral problem first and head on. You are never in the rest of your life going to see a decline big enough to make you feel comfortable - either it'll never come or its arrival would make you panic and bail. You're just going to have to give that money up as lost. Accepti...

Tamarind

Welcome! Glad you're here. Here's a little advice from a 34 yr old in the humid South with a very fulfilling job. I've never known anyone who already had a non-academic job whose job prospects were improved by getting a PhD. Obviously can vary by the field but you should have a much clearer idea of ...

Tamarind

I would say prioritize career at that age, which might be different from prioritizing income in the short term. I would not advise someone decades from retirement to pursue a job that is either: A) Dead-end ie zero chance for more interesting work in the future B) Morally bankrupt ie I don't care ho...

Tamarind

This makes me feel a lot better about the mechanics of withdrawing a large balance all at once when the time comes. Not that things couldn't change, of course. I initiate ACH from Ally straight into the Hatch Bank account. That way I don't have to worry about what HMBradley may or may not change in...

Tamarind

All of the contributions you mentioned (both employer and employee) to a Solo 401K go on Schd 1, line 15. Your software will make sure you haven't over contributed.. it will assume employer and employee contributions up to the max allowed with your earnings Schedule C entry is if you set up a pensi...

Tamarind

I'd do double Roth IRAs while they are still working and able to contribute. Can withdraw the contributions anytime, gains are tax free. Vanguard Balanced fund is a good choice for getting some gains but with a buffer for crashes, it is my own parents' single fund.

Tamarind

Even if the open enrollment period were not extended, I believe almost any event that causes one to lose employer based insurance is a qualifying event that entitles you to enroll in an ACA plan out of the normal open enrollment period. If it would affect your decision, check whether your wife's pr...

Tamarind

OP, you may wish to point your brother at this very helpful short booklet, written in 2014 and provided free by its author Bill Bernstein. I found this very helpful when I was 30 and I think everyone should give it a read. https://www.etf.com/docs/IfYouCan.pdf It's a concise explanation of risk, inc...

Tamarind

Please confirm if below statements are correct. Now when it comes to the contributions: Sum of all 3 buckets should not be more than 57K for year 2020 Sum of bucket-1 and bucket-2 employEE cannot exceed more than 19.5K Bucket-2 as employER shouldn't me more than 18.5% of business income profit (sol...

Tamarind

Sounds like you aren't using the bedrooms you have now. I would not make a change.

Tamarind

Ugh a typo seems to have twisted my post. Dang autocorrect. I meant can you sell the fund but leave all the money in the JTWROS account? Reviewing the thread, everything you've tried to do has been about removing money from the account and getting a check. Obv the broker will not allow you to do th...

Tamarind

My first transfer out of HMB ($20) was performed exactly as promised, next day after request.

Tamarind

HM Bradley has some potential but requires direct deposit and a 20% cash savings rate in order to beat Marcus. Some Bogleheads are worrying the rates (3-3.5%) are too good to be true. Me, I'm trying it out.

Tamarind

Yes, recent natural disasters have made building supplies expensive. Also if you're doing any work with an architect most of them are up to their eyeballs in work. I'm currently on an 18 month long waiting list to start the design process with our architect. I suggest you plan to live in the house a...

Tamarind

Yep, just convert it.

Tamarind

Ugh a typo seems to have twisted my post. Dang autocorrect. I meant can you sell the fund but leave all the money in the JTWROS account? Reviewing the thread, everything you've tried to do has been about removing money from the account and getting a check. Obv the broker will not allow you to do tha...

Tamarind

It usually looks high, except when it's crashing. You are 32. I'm 34. If we continue to get even low-average returns, prices will *double* again at least once from today before we retire. So it can't be all that high today, relatively speaking. Invest you must. Strongly suggest you have at least 30%...

Tamarind

Leveraged ETFs are great on the way up, bad on the way down, and bad in a sideways market. Here’s how an actual LETF performed over the past 15 years or so. You’ve only been outperforming the market since March 2020. Yes, leveraged ETFs only outperform the market when it's going up. But since we al...

Tamarind

So far so good. My 3% rate should start April 1. Haven't done a lot of transferring yet as I was waiting for the direct deposit to hit. Will report back.

Tamarind

OP, if you're really willing to wait for the other owner to die, and you think they would refuse to sign even for half of the amount, and your biggest issue is the tax bill: Will the custodian permit you to unilaterally sell the mutual fund and leave the amount in the amount in cash? That would end ...

Tamarind

I love these units, however... Do you know if there's an issue with the insulation of the room? It may be much cheaper as well as more effective to correct any insulation or air leak issues and so hold on to the conditioned air you already have. Consider floors and ceilings as well as the walls.

Tamarind

updated information on Vanguard Individual 401K (Solo 401K) They are now accepting rollovers from an outside 401K. I just did it in the last 5 days. I believe that I may have been their first one. It went very smoothly and only took about 5 days including very little paperwork. The biggest time was...

Tamarind

Etrade made some changes to the way they handle contributions this past year, and they are definitely changes for the worse. They now limit electronic transfers to the elective deferral limit ($19.5k or $26k). If you want to contribute more, you have to deposit a paper check through their mobile ap...

Tamarind

It just happened less than a week ago, it's going to be X amount of time for the IRS + Y amount of time for tax software providers. I wouldn't stress it yet. Plus they will it seems extend the deadline again this year https://www.cnbc.com/2021/03/17/irs-pushes-april-15-us-tax-deadline-to-may-17.htm...

Tamarind

Had anyone seen updated IRS guidance yet on the provision of the American Rescue Plan Act about repayment of excess advance Premium Tax Credit? My mother decided in December of last year to make a larger than previously planned Roth conversion. This means her income was about $20k more than she had ...

Tamarind

Aside from having enough money to FIRE, are there others who are wary of stepping off the cycle of achievement? For most high-earning professionals, like doctors, lawyers, tech professionals, achieving FIRE has not only required sustained financial discipline, but has required an all-encompassing w...

Tamarind

I'd save up for the large planned expenses separate from the emergency fund. Agreed. Emergency fund is for situations that would cause me to delay or cancel large planned expenditures ie job loss, major medical event, unforeseeable damage to property (disaster not normal end of life). If I'm using ...

Tamarind

Before it is too late, set your cost basis as specific identification. You’ll want it set up that way when you learn about tax loss harvesting. You may also want to turn off automatic reinvestment of dividends. I second SpecID, though I kept automatic reinvestment on for now. I prefer to title join...

Tamarind

Not dumb but over-enthusiastic. You could stop automatic reinvestment of dividends, then put dividends into VBIAX. Sell a budgeted amount to sell each year and move into VBIAX while: 1) staying in your current bracket for long term gains (presumably 15%?) 2) avoiding any income cliffs or phase-it's ...

Tamarind

If you increase your traditional 401k contributions, you will stay below the Roth IRA contribution limits longer, as they reduce your AGI.

If you roll your rollover IRA into your 401k, you will be free to use the backdoor to the Roth IRA when you need it.

Tamarind

My sister's income is in this vicinity. She made slightly too much in 2019 to qualify for the credits and hasn't yet filed 2020 taxes. It's probably too late now anyway to file 2020 taxes (the reason I think this is because I already got my stimulus check by direct deposit yesterday) but it wouldn'...

Tamarind

Absolutely not. I briefly carried a mortgage that was 50% of take home due to a pay cut, though all the numbers were much much smaller. It was awful and stressed me out. You simply can't afford to buy a typical house in your area, despite your very high income. Seems to me if your wife cannot stand ...

Tamarind

Good advice already above. I work for a consulting firm in the IT/Software space and we bill consultants out between $175-220/hr depending on the client and the consultant's level of experience. Of course the consultants don't take that much home and the owner has an excellent profit margin even aft...

Tamarind

Here is the Kitces analysis for the American Rescue Plan.... https://www.kitces.com/blog/the-american-rescue-plan-act-of-2021-tax-credits-stimulus-checks-and-more-that-advisors-need-to-know/ Lots of changes that actually apply to the 2020 Tax Filling. Its going to get interesting--especially if you...

Tamarind

A potential use I can see for them, but it will never happen, would be a legal framework that would reverse decades of "stealing the common from the goose*" represented by DRM and endless extension of copyright. A slightly more enforceable kind of Creative Commons license. One could imagi...

Tamarind

No, it's a blockchain-adjacent speculative product, all hat no cattle. If you wouldn't invest in fine art, old wine, or something else where the exchange value far exceeds the use value, then don't bother with this.

Tamarind

My dream home is not something I could get from a builder. My tastes run to a MUCH smaller home than is economical for most builders. We opted to buy a small home in the right place, but with shabby interior. 10 years in we know exactly what bothers us the most and are also sure it's the right size ...

Tamarind

She either is a dependent or she's not. If she is, she can't get her own payment even if son does not claim her. If she's not, he can't claim her even if they both want him to. Did her son provide at least half of her support in 2020? Or is she living off her own assets? She has no assets and lives...

Tamarind

Hey OP I'm your age and have same income, though only 1/3 your savings due to not having had that salary very long. Not in accounting but accounting-adjacent field. I'm also aiming for Financial Independence as early as possible. It seems to me that you can definitely afford to downshift and take a ...

Tamarind

She either is a dependent or she's not. If she is, she can't get her own payment even if son does not claim her. If she's not, he can't claim her even if they both want him to.

Did her son provide at least half of her support in 2020? Or is she living off her own assets?

Tamarind

I appreciate the complexity of this problem when you consider making it work for EVERYONE's situation. But TurboTax and others still tackle it. I just wish there was a TurboTax product that you could use throughout the year to gain precise insight as you go. For whatever reason the market is segmen...

Tamarind

There's a reason no one has written this software. It's a complex calculation that is influenced by factors other than the business (like how many kids you have or your spouse's income), with hard-coded constants that change every year, and the liability if you mess up is enormous. But as a thought ...

Tamarind

It's not about the math, IMO. Someone using VBIAX either: 1) Cares more about convenience than the possible advantages of "lopsided" withdrawals. They have enough to not be bothered, and instead see a measurable benefit in not having to even use the calculator. 2) Is correcting for their o...

Tamarind

Increasingly common are catastrophic weather events like wildfires, hurricanes/floods, etc. We experience the largest fire season out west last summer and whole communities were wiped out. Being in the west, that would be our greatest threat right now. This, especially if your comfortable retiremen...

Tamarind

Long term disability insurance is a very good idea for someone who: -Has others depending on their income AND -Does not have enough saved yet to retire even uncomfortably OR -Works a job where a very small/specific injury could end their ability to work (the classic example is a surgeon) However it ...

Tamarind

If you want to take it a step further try Free Fillable Forms!

That's how I've done my taxes for the last few years. You'll learn even more.

Tamarind

I spoke to them today about this. The rep I spoke to said yes they were now accepting rollovers. I asked in the context of creating space for a backdoor roth. The rep also said while the paperwork was now allowing it, the system itself might take a week or two to be ready. The rep offered to get ba...

Tamarind

I have an existing Vanguard Solo 401K, and I'd like to do rollovers into it from Vanguard-held Rollover IRAs and also from external 401Ks. The vanguard personal website still doesnt let me exchange from Rollover IRA into Solo 401k, it says "Exchanging money between these accounts isn't permitt...

Tamarind

Not sure where to put this. Sorry if it is in the wrong catagory. My son's fiance has been working as a nanny and the family is moving. She has found a new position. The challenge is that the old employer took care of payroll etc. The new one wants her to take care of it on her own by giving her a ...

Tamarind

Don't over think it. The IRS will know what it's about. I came back here to say exactly this. Whether you put it with wages or as Other income, I believe the IRS will not care at all. I suspect that some folks will put it here and others will put it there. And no one will get a letter from the IRS ...

Search found 2470 matches