Search found 193 matches

by cashheavy18
Wed Jul 21, 2021 3:35 pm
Forum: Personal Investments
Topic: Refinance to do Mega Backdoor 401(k)?
Replies: 23
Views: 998

Re: Refinance to do Mega Backdoor 401(k)?

Mega Backdoor contributions come out of payroll. Not sure that your employer will let you contribute a lump sum outside of your paychecks into the plan (I asked mine this question before and they said no). Given this, I'm not entirely following what the refinance accomplishes. My guess would be the...
by cashheavy18
Mon Jul 12, 2021 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on house upgrade (inherited assets)
Replies: 73
Views: 5540

Re: Thoughts on house upgrade (inherited assets)

Are you including your income taxes as part of your spending? I would not. How much do you make after taxes, and how much of that do you spend? I agree with this. It hardly seems fair to beat yourself up about 60k in taxes if they're being generated by your large inherited taxable portfolio. Are yo...
by cashheavy18
Mon Jul 12, 2021 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: 401k contribution limit, multiple employers
Replies: 14
Views: 1349

Re: 401k contribution limit, multiple employers

I am in this situation and wasn't aware of the different employer/plan separation and ability to contribute potentially more in after-tax with my new employer. HOWEVER , I followed up with my benefits team, and our plan has an annual PLAN limit of $28,500 for after tax contributions. This makes comp...
by cashheavy18
Sun Jun 20, 2021 7:36 pm
Forum: Personal Consumer Issues
Topic: Florida State University
Replies: 87
Views: 6816

Re: Florida State University

18 year old grandson is transferring from UW Madison to Florida State. He has about 53 credits if all of his AP courses are counted and the 32 credits he earned from his freshman year. His GPA IS 3.79 higher if AP credits are counted. He was in bio science at Madison, but will enroll in the actuary...
by cashheavy18
Sun Jun 20, 2021 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Are there federal taxes paid by individuals other than form 1040 line "total tax"?
Replies: 77
Views: 8047

Re: Are there federal taxes paid by individuals other than form 1040 line "total tax"?

No, you are not missing anything. That line represents your total income tax. Of course, there are many other federal taxes other than the income tax which you probably don’t need to be concerned about. Gill Are there any taxes not captured on the "total tax" line of form 1040 that indivi...
by cashheavy18
Wed Jun 09, 2021 9:07 am
Forum: Personal Investments
Topic: 500k windfall at 39 years old
Replies: 16
Views: 2625

Re: 500k windfall at 39 years old

Be aware of Roth IRA income limits. Your income (is $110000 pre or post tax?) + withdrawal from inherited IRA could put you over the limit. And from next year onwards you will have to consider spouses income too. I also see total bond in your taxable brokerage account - not tax efficient. Using the...
by cashheavy18
Tue May 25, 2021 11:45 am
Forum: Personal Investments
Topic: What do I do with my cash?
Replies: 5
Views: 1254

Re: What do I do with my cash?

Take a look at this approach to the order of investing:

https://forum.mrmoneymustache.com/inves ... ent-order/
by cashheavy18
Tue May 18, 2021 10:52 am
Forum: Personal Consumer Issues
Topic: Covid test kit for returning from international travel.
Replies: 30
Views: 2646

Re: Covid test kit for returning from international travel.

I'm sorry if this appears to be ignorant on my part, but why don't you invest $0 and 10 minutes of your time and get vaccinated? You'll walk out there with the white vaccination card. Depending on the country, international travel requires proof of a negative COVID test. Regardless of being vaccina...
by cashheavy18
Tue May 04, 2021 7:47 pm
Forum: Personal Investments
Topic: Where should I direct my retirement savings between now and retirement? (ETA 12 years)
Replies: 10
Views: 1272

Re: Where should I direct my retirement savings between now and retirement? (ETA 12 years)

Hello, I last posted a portfolio question in 2018 and thought I would ask for a reassessment to see if I need to change anything There is no way I would be doing this well without the BH forum and all the advice and posts from everyone. I am so far ahead of my peers at work based on just following ...
by cashheavy18
Tue May 04, 2021 7:46 pm
Forum: Personal Investments
Topic: Where should I direct my retirement savings between now and retirement? (ETA 12 years)
Replies: 10
Views: 1272

Re: Where should I direct my retirement savings between now and retirement? (ETA 12 years)

Hello, I last posted a portfolio question in 2018 and thought I would ask for a reassessment to see if I need to change anything There is no way I would be doing this well without the BH forum and all the advice and posts from everyone. I am so far ahead of my peers at work based on just following ...
by cashheavy18
Mon May 03, 2021 5:58 pm
Forum: Personal Investments
Topic: Advice for investing an additional 80,000/yr
Replies: 7
Views: 1206

Re: Advice for investing an additional 80,000/yr

Please take a look at the following, I've found it very helpful:

https://forum.mrmoneymustache.com/inves ... ent-order/
by cashheavy18
Sun May 02, 2021 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth questions
Replies: 9
Views: 468

Re: Backdoor Roth questions

Thank you, both. I thought the 6K / 7K limit only applies to ROTH IRA contributions. I didn't realize that this limit applies to contributions made to a non-deductible IRA also - think I was confused by the mega backdoor 401K Roth contributions limit that are much more than 6K / 7K limits imposed o...
by cashheavy18
Sun May 02, 2021 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth questions
Replies: 9
Views: 468

Re: Backdoor Roth questions

Thank you, both. I thought the 6K / 7K limit only applies to ROTH IRA contributions. I didn't realize that this limit applies to contributions made to a non-deductible IRA also - think I was confused by the mega backdoor 401K Roth contributions limit that are much more than 6K / 7K limits imposed o...
by cashheavy18
Fri Apr 23, 2021 9:55 am
Forum: Personal Finance (Not Investing)
Topic: My Aunt is Awesome
Replies: 11
Views: 3362

Re: My Aunt is Awesome

This is my family as well & your words are so true. Coming to a foreign country and regardless of not knowing anyone, the customs, or the rules and tricks to get by or move ahead - they persevered and succeeded. My parents and their generation of family setup my generation for success and there ...
by cashheavy18
Sun Mar 28, 2021 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring at 54
Replies: 66
Views: 12470

Re: Retiring at 54

Wonderful to hear about the progress and the market growth.

With such significant amounts in your 401k & IRA - can you share your strategy, if you are doing any Roth conversions or have plans to do so?
by cashheavy18
Sun Mar 21, 2021 11:32 am
Forum: Personal Investments
Topic: Applying Ramit Sethi's advice to my current situation
Replies: 32
Views: 2526

Re: Applying Ramit Sethi's advice to my current situation

Take a moment to read the following - I find it helpful on the approach to use for order of investing:

https://forum.mrmoneymustache.com/inves ... ent-order/
by cashheavy18
Sun Mar 14, 2021 8:44 pm
Forum: Personal Consumer Issues
Topic: Happy Pi Day! (And what pie?)
Replies: 35
Views: 2264

Re: Happy Pi Day! (And what pie?)

Fresh strawberry :D
by cashheavy18
Thu Mar 11, 2021 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

Update for those who are interested: I received the job offer and have accepted it. I am going in with eyes wide open. I look forward to working on some interesting projects, for however long it will last. Even though I said the decision wasn't financially motivated, it is a good feeling to be ackno...
by cashheavy18
Sat Mar 06, 2021 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Coast to retirement jobs for 50-something
Replies: 41
Views: 5857

Re: Coast to retirement jobs for 50-something

I am currently in this situation. Quit a job 3 years ago and took a big pay cut and have a nearly zero stress job now. Here’s my experience in the past 3 years & it certainly is unique to one’s personality: It felt great initially- did my job for the day & I was done I changed industries fro...
by cashheavy18
Fri Mar 05, 2021 7:43 am
Forum: Personal Consumer Issues
Topic: Favorite All Inclusive Beach Resort
Replies: 23
Views: 3059

Re: Favorite All Inclusive Beach Resort

For families (with kids) - Club Med. Have been to Cancun & Dominican Republic.
by cashheavy18
Thu Mar 04, 2021 8:21 am
Forum: Personal Investments
Topic: What to do next [after max Roth contribution]?
Replies: 10
Views: 983

Re: What to do next [after max Roth contribution]?

I've always found the following helpful in how it's presented. I think it is a good way to approach how to invest when you have the next set of "extra dollars" available:


https://forum.mrmoneymustache.com/inves ... msg1333153
by cashheavy18
Thu Mar 04, 2021 8:14 am
Forum: Personal Investments
Topic: ally bank takes 10 minutes per CD
Replies: 24
Views: 2269

Re: ally bank takes 10 minutes per CD

No personal experience (yet), but Marcus has 7 month no penalty CDs. Rate is 0.45%. https://www.marcus.com/us/en/savings/no-penalty-cds AARP members can apparently get 0.55% on an 8 month no penalty CD. https://www.marcus.com/us/en/savings/aarp-npcd?prd=os&chl=partner&schl=aarp&cid=4099...
by cashheavy18
Wed Mar 03, 2021 9:29 pm
Forum: Personal Investments
Topic: ally bank takes 10 minutes per CD
Replies: 24
Views: 2269

Re: ally bank takes 10 minutes per CD

No personal experience (yet), but Marcus has 7 month no penalty CDs. Rate is 0.45%. https://www.marcus.com/us/en/savings/no-penalty-cds AARP members can apparently get 0.55% on an 8 month no penalty CD. https://www.marcus.com/us/en/savings/aarp-npcd?prd=os&chl=partner&schl=aarp&cid=4099...
by cashheavy18
Sat Feb 27, 2021 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

Thank you for those that have replied. It helped to just write out what's been on my mind and get different perspectives.

I will post again, when I know:
  • If I get the offer
  • If I get it, what I decide to do
by cashheavy18
Sat Feb 27, 2021 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

Also, if you’re in the 35% federal bracket now, then it sounds like your spouse is making the majority of the HHI. While I don’t think there’s much downside risk to taking the new job, because you’re basically FI anyway, your spouse’s income would seem to further reduce that risk. You all could liv...
by cashheavy18
Sat Feb 27, 2021 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

livelovelaugh00 wrote: Thu Feb 25, 2021 7:49 pm Go if their 401k allows after tax contribution and in service distribution.
This is very tempting, my previous employer added this feature 6 months after I left and current employer doesn't offer it.
by cashheavy18
Sat Feb 27, 2021 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

I’m leaving the financial aspect out of the decision because I knowingly gave up the pay and perks a few years ago (but will include approximates for comparison sake). I don’t have the job offer yet (so this all could be a moot point) but will know within the next week. This is the biggest red flag...
by cashheavy18
Thu Feb 25, 2021 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

(though ego wise, it's a pretty good feeling to make more $). Do a thorough examination of this aspect. It sounds like you are feeling flattered to be courted. Not all that glitters is gold. This is 100% correct - after I received the call to apply it felt great that even after several years going ...
by cashheavy18
Thu Feb 25, 2021 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

There's often significant inertia or bias toward maintaining the status quo. If after accounting for everything known about the two options, including the time you now have with family, you find that your choice between the status quo and change feels about even, I say make the change. Thank you. I...
by cashheavy18
Thu Feb 25, 2021 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

Do you like your current job? Is it fun at all? Would the new job be more fun? If you don’t need the money and don’t care if you loose either job, how the fun and interesting side stack up. Current job is on auto-pilot, very regimented/methodical on how it's done (by design in the company for the i...
by cashheavy18
Thu Feb 25, 2021 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

I took a quick peak at your portfolio review post. Looks like you're basically financially independent, depending on your expenses. Since you have the freedom to do what you want, I would do what would allow me to live in alignment with my values. Only you know what those are. If you want to priori...
by cashheavy18
Thu Feb 25, 2021 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

Re: The challenge of having a choice: coast or take a risk?

How old are you and how far are you from being able to retire? A big problem with your current job is that if you are needing to work for another 20 years then your career may be pretty stagnate if you stay with them for another 5+ years. You also need to consider that if your current job is not ri...
by cashheavy18
Thu Feb 25, 2021 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: The challenge of having a choice: coast or take a risk?
Replies: 26
Views: 2131

The challenge of having a choice: coast or take a risk?

Hello all, I find myself with the following choice and am stumped on which path to choose. Current situation: currently employed, individual contributor with a very low stress position. Team and manager are very nice, laid back – no egos. I don’t love my job (very routine, not much “new” learning) n...
by cashheavy18
Sat Feb 20, 2021 11:26 am
Forum: Personal Finance (Not Investing)
Topic: So what kind of raise did you guys get for 2021?
Replies: 247
Views: 21347

Re: So what kind of raise did you guys get for 2021?

Was quite surprised when I received my pay review this week. 4% merit increase on base salary and 13.5% bonus (target is 15%).

My company has been very employee friendly the past year, so this was icing on the cake.
by cashheavy18
Mon Feb 15, 2021 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing mentally for retirement
Replies: 46
Views: 4080

Re: Preparing mentally for retirement

I am currently on this journey as well, to mentally prepare for retirement, whenever I choose that to be (financially secure now, if I was ready). I am reading this book and it is speaking to me on how to think about what to do next: How to Retire Happy, Wild, and Free by Ernie J. Zelinski. I've rea...
by cashheavy18
Wed Feb 10, 2021 8:10 pm
Forum: Personal Investments
Topic: E-Trade account - considering closing new account given experience so far
Replies: 20
Views: 2219

Re: E-Trade account - considering closing new account given experience so far

I’m a 20+ year customer at E*Trade and only in the last year have had need to contact someone there. I email my assigned account person, their name shows when you log in, right hand corner I believe. He usually replies the same day and is available by phone if I request it as well. I realize any com...
by cashheavy18
Thu Feb 04, 2021 1:54 pm
Forum: Personal Investments
Topic: Feeling anxious about how to invest life savings
Replies: 55
Views: 6423

Re: Feeling anxious about how to invest life savings

Completely unrelated to what you're asking, but are you contributing to a Roth IRA?

If no, please look into it and contribute for 2020 & 2021 (that takes care of $12k of your cash).
by cashheavy18
Tue Jan 26, 2021 4:39 pm
Forum: Personal Consumer Issues
Topic: Fair price for all inclusive and family of 5?
Replies: 21
Views: 2531

Re: Fair price for all inclusive and family of 5?

I would double check reviews as this seems a little too good to be true.

Have you looked on TripAdvisor?

Be safe.
by cashheavy18
Wed Jan 20, 2021 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Mechanics of teen's 1st tax return
Replies: 35
Views: 2121

Re: Mechanics of teen's 1st tax return

When my child had their first job, we pulled up TurboTax online (it's free based on their low income) and had them complete the return. I sat next to them to answer questions as they came up. Fast forward 4 years, my child is ready to do their taxes (still on TurboTax online) as soon as they get all...
by cashheavy18
Sun Jan 17, 2021 7:06 pm
Forum: Personal Investments
Topic: Inexperienced with Investments, 350K HHI, help!
Replies: 18
Views: 1254

Re: Inexperienced with Investments, 350K HHI, help!

This tutorial might be helpful to do the backdoor Roth at Fidelity:

https://www.thepainvestor.com/2020/06/1 ... -fidelity/
by cashheavy18
Thu Jan 14, 2021 3:58 pm
Forum: Personal Investments
Topic: What's your strategy for unloading your ESPP shares?
Replies: 18
Views: 1312

Re: What's your strategy for unloading your ESPP shares?

I am in the same situation, dating back 15 years though. I have found these shares are an amazing way to donate to charities.

Part of our financial plan is a giving goal each year and all donations are made using the appreciated stock.
by cashheavy18
Fri Jan 08, 2021 8:55 pm
Forum: Personal Consumer Issues
Topic: How much to give kid for living expense?
Replies: 129
Views: 5951

Re: How much to give kid for living expense?

Money to buy groceries is provided. There is an expectation to have a job and pay for all other incidentals.

If the explicit conversation hasn’t been had, then it’s not surprising the child thinks they can do whatever they want with the parents cc.
by cashheavy18
Tue Jan 05, 2021 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Donate 1 Share of AMZN to Charity?
Replies: 11
Views: 1322

Re: Donate 1 Share of AMZN to Charity?

Best way to give! Go for it. We started donating shares directly to non-profits 6 years ago and I wish I had considered it sooner than that.
by cashheavy18
Sun Jan 03, 2021 6:51 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 27353

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

Shockingly, some people enjoy mowing their lawn & shoveling snow regardless of their net worth :wink:

Time spent outside and getting a little bit of exercise.
by cashheavy18
Sun Jan 03, 2021 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning when spouse isn’t a United States citizen
Replies: 36
Views: 1827

Re: Estate Planning when spouse isn’t a United States citizen

We have several family members in this situation, one spouse is a US citizen, one a Green Card holder. All have estate plans in place, but lawyers didn’t ask and information wasn’t provided on the citizenship status of spouses. It sure seems like both sides made a huge mistake here. As they say &qu...
by cashheavy18
Sun Jan 03, 2021 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning when spouse isn’t a United States citizen
Replies: 36
Views: 1827

Re: Estate Planning when spouse isn’t a United States citizen

We have several family members in this situation, one spouse is a US citizen, one a Green Card holder. All have estate plans in place, but lawyers didn’t ask and information wasn’t provided on the citizenship status of spouses. It sure seems like both sides made a huge mistake here. As they say &qu...
by cashheavy18
Sun Jan 03, 2021 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning when spouse isn’t a United States citizen
Replies: 36
Views: 1827

Re: Estate Planning when spouse isn’t a United States citizen

US Citizen (decedent) and leaves asset to non-US citizen spouse: Spouse does not qualify for unlimited spousal deduction. However, decedent (who is the one getting taxed) qualifies for 11.7M exemption. So, essentially, assets below 11.7M are not taxed. . Thanks for the clear and helpful responses t...
by cashheavy18
Sat Jan 02, 2021 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning when spouse isn’t a United States citizen
Replies: 36
Views: 1827

Re: Estate Planning when spouse isn’t a United States citizen

,,, We have several family members in this situation, one spouse is a US citizen, one a Green Card holder. All have estate plans in place, but lawyers didn’t ask and information wasn’t provided on the citizenship status of spouses. • US Citizen spouse passes away with an estate < $11.7M and leaves ...