Search found 1988 matches

by FelixTheCat
Wed Mar 17, 2021 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: How quickly did you receive your 2020 tax refund?
Replies: 222
Views: 19995

Re: How quickly did you receive your 2020 tax refund?

Paper filed on 2/16 (I qualified for a Sole Proprietorship Covid adjustment).
Waiting...
by FelixTheCat
Thu Mar 11, 2021 11:45 am
Forum: Investing - Theory, News & General
Topic: Schedule C Sole Proprietor-Roth IRA Contributions
Replies: 9
Views: 579

Re: Schedule C Sole Proprietor-Roth IRA Contributions

I'm a Sole Proprietor. Open a Solo 401K for the business. I max out my Roth IRA. I max out my Roth 401K as an employee. I contribute profit sharing money as an employer. I have two 401Ks at Vanguard https://investor.vanguard.com/small-business-retirement-plans/individual-solo-401k I use this link to...
by FelixTheCat
Tue Mar 09, 2021 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: What's It Really Like to Work With Vanguard's Personal Advisory Service?
Replies: 131
Views: 12286

Re: What's It Really Like to Work With Vanguard's Personal Advisory Service?

Also, the specificity of withdrawal strategies was lacking, even evasive. I had a meeting with PAS specifically for the tax savvy withdrawal strategy. I was told PAS has a cost basis category called "Tax Efficient" in addition to what we have Spec ID, LIFO, FIFO and AVG Cost. I was told T...
by FelixTheCat
Tue Mar 09, 2021 2:10 pm
Forum: Personal Investments
Topic: Would you lump sum right now?
Replies: 57
Views: 4361

Re: Would you lump sum right now?

I use Buffett's philosophy. Invest the money and get back to work.
by FelixTheCat
Fri Mar 05, 2021 6:50 pm
Forum: Personal Investments
Topic: Buffett on Bonds bleak future
Replies: 28
Views: 4582

Re: Buffett on Bonds bleak future

White Coat Investor wrote: Fri Mar 05, 2021 6:04 pm You know this isn't a new position for Buffett, right? He's never been a fan of bonds, even when yields were higher.
+1
by FelixTheCat
Fri Mar 05, 2021 6:43 pm
Forum: Personal Investments
Topic: Is my Financial Advisor's advice sound?
Replies: 69
Views: 6761

Re: Is my Financial Advisor's advice sound?

Good afternoon all! I am in my early twenties and have been doing all of my investing through my TSP (aka 401k) in low cost index funds. I invest about 15% of each paycheck into my Roth TSP/401k. I also have $400k of term life insurance through my employer. Why do you have term life insurance? Are ...
by FelixTheCat
Fri Mar 05, 2021 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: How much Umbrella Insurance?
Replies: 57
Views: 8839

Re: How much Umbrella Insurance?

My State Farm agent told me "The amount of assets you have."
by FelixTheCat
Thu Mar 04, 2021 6:10 pm
Forum: Personal Investments
Topic: Advice for daughter on financial adviser
Replies: 36
Views: 3773

Re: Advice for daughter on financial adviser

Most of us on this board learn how to invest. If your daughter has no interest in reading the Boglehead board, then I suggest Vanguard's Personal Advisor Service https://investor.vanguard.com/advice/fi ... r-services
by FelixTheCat
Thu Mar 04, 2021 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Victim of Unemployment Fraud -- in multiple states!
Replies: 19
Views: 2402

Re: Victim of Unemployment Fraud -- in multiple states!

Have you locked down your credit? https://www.bogleheads.org/wiki/Credit_freeze I froze my credit a few weeks ago.. after the first case of fraud appeared with Minnesota. But that really helps for things for like... people applying for loans or opening up credit card accounts. I'm not sure what hel...
by FelixTheCat
Thu Mar 04, 2021 1:28 pm
Forum: Personal Investments
Topic: How to invest Emergency fund money?
Replies: 22
Views: 2036

Re: How to invest Emergency fund money?

Emergency fund needs capital preservation. Money Markets, CDs, T Bills.
by FelixTheCat
Mon Mar 01, 2021 7:33 pm
Forum: Personal Investments
Topic: Where to put my bonds?
Replies: 7
Views: 898

Re: Where to put my bonds?

I talked to PAS. It was the PAS software that rearranged my account. The PAS advisor agreed with BH philosophy.
by FelixTheCat
Mon Mar 01, 2021 3:09 pm
Forum: Personal Investments
Topic: Where to put my bonds?
Replies: 7
Views: 898

Re: Where to put my bonds?

You guys invest like I do. I'll post their response when I have my meeting later today.
by FelixTheCat
Mon Mar 01, 2021 2:02 pm
Forum: Personal Investments
Topic: Where to put my bonds?
Replies: 7
Views: 898

Where to put my bonds?

My Plan I've always have been told to put Total Stock Market Index in my Roth IRA so it will grow tax free. I don't have enough money in my tax deferred accounts to put all of my bond money so I have California Municipals in my taxable space. PAS Plan I went for my free PAS evaluation. Their recomm...
by FelixTheCat
Mon Mar 01, 2021 1:55 pm
Forum: Personal Investments
Topic: Parents gifting my infant son $10k. What's the smartest way to invest it?
Replies: 45
Views: 4020

Re: Parents gifting my infant son $10k. What's the smartest way to invest it?

Custodial accounts age of majority is 18. In some states it is 25. How would you feel if your darling son is not the mature 18 year old you hoped? He could spend the money on what ever he desired. Personally, I would open another brokerage account in your name and fund it with VTSAX. You pay the ta...
by FelixTheCat
Wed Feb 24, 2021 6:37 pm
Forum: Personal Investments
Topic: Parents gifting my infant son $10k. What's the smartest way to invest it?
Replies: 45
Views: 4020

Re: Parents gifting my infant son $10k. What's the smartest way to invest it?

Custodial accounts age of majority is 18. In some states it is 25. How would you feel if your darling son is not the mature 18 year old you hoped? He could spend the money on what ever he desired. Personally, I would open another brokerage account in your name and fund it with VTSAX. You pay the tax...
by FelixTheCat
Wed Feb 24, 2021 1:50 pm
Forum: Personal Investments
Topic: Best way to withdraw money during earlier retirement
Replies: 32
Views: 2710

Re: Best way to withdraw money during earlier retirement

I think the best way is to have zero cash and have one's taxable portfolio 100% invested in equities. Why zero cash? Some threads on this board have two-to-three years in cash. Their philosophies are 1) There's no taxable events in spending cash. 2) If the market tanks, then you don't have to sell ...
by FelixTheCat
Tue Feb 23, 2021 8:13 pm
Forum: Personal Investments
Topic: Best way to withdraw money during earlier retirement
Replies: 32
Views: 2710

Re: Best way to withdraw money during earlier retirement

I think the best way is to have zero cash and have one's taxable portfolio 100% invested in equities. Why zero cash? Some threads on this board have two-to-three years in cash. Their philosophies are 1) There's no taxable events in spending cash. 2) If the market tanks, then you don't have to sell ...
by FelixTheCat
Tue Feb 23, 2021 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Exempt Muni bond-do I pay state taxes on dividends
Replies: 14
Views: 1077

Re: Tax Exempt Muni bond-do I pay state taxes on dividends

I calculate my state portion of the mutual fund for my state. In TurboTax I put X dollars for My State and the rest in Multiple States. For example, you have a $688 in dividends. You live in Illinois. Illinois has 7.44% of total dividends for Intermediate Term Tax Exempt. $688 * 7.44% is $51 for Ill...
by FelixTheCat
Tue Feb 23, 2021 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Best decision(s) in your financial life
Replies: 167
Views: 13587

Re: Best decision(s) in your financial life

Investing in low cost equity index funds such as Total Stock Market and S&P 500 index fund.
by FelixTheCat
Tue Feb 23, 2021 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Exploring a move to California
Replies: 21
Views: 1860

Re: Exploring a move to California

I live in San Diego. San Diego is a tourist destination with warm weather, good people and a lot of things to do here. My only downsides are California is pricey and has a lot of rush hour traffic. My suggestion before you move is take a vacation to the destinations you desire. Drive around the city...
by FelixTheCat
Mon Feb 22, 2021 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: too much in 401k may be forced to quit job
Replies: 183
Views: 17083

Re: too much in 401k may be forced to quit job

Anyone else here been in similar situation, am hoping this situation will die down with more time. I told my closest friend I paid off my house. He thought it was his job for two years to tell me how to spend my money on things he wanted like a beach house or a boat. He even got upset when I kept t...
by FelixTheCat
Wed Feb 17, 2021 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Self-employed Family Leave Credit - Covid Tax Credit
Replies: 20
Views: 1350

Re: Self-employed Family Leave Credit - Covid Tax Credit

This appears to be up to a $10K tax credit for self-employed individuals who took time away from work due to care for sick family members and/or care for kids due to schools/childcare centers being closed. The IRS tax form says Number of days you were unable to perform services as a self-employed i...
by FelixTheCat
Tue Feb 16, 2021 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: How should I spend all this money?
Replies: 72
Views: 9259

Re: How should I spend all this money?

I fantasize about Buffet, Gates and others that pledge to give away their wealth. Join them. Donate more to the existing charities you cherish. Have you thought about Legacy Giving Plan through a Donor Advised Fund? You can 1) Donate your assets to charities upon your passing. OR 2) Continue to wri...
by FelixTheCat
Tue Feb 16, 2021 5:16 pm
Forum: Personal Investments
Topic: Newly Retired -- Moving to "investing and spending"
Replies: 13
Views: 1610

Re: Newly Retired -- Moving to "investing and spending"

I'm considering retiring but I haven't figured out one thing. How do you withdraw from your account in a tax savvy manner? Do you withdraw from the taxable account first method? Do you withdraw from all accounts proportionally? How do you calculate this information?
by FelixTheCat
Tue Feb 16, 2021 3:13 pm
Forum: Investing - Theory, News & General
Topic: Who is offering a financial bonus for bringing new money to them? Merrill edge just told me they are not.
Replies: 26
Views: 2876

Re: Who is offering a financial bonus for bringing new money to them? Merrill edge just told me they are not.

I never understood this group of Bogleheads. Is it really worth it to move your money from institution to institution to get a $900 bonus?

In my humble opinion, a firm must be desperate to get somebody's money if they have to offer you a financial carrot.
by FelixTheCat
Tue Feb 16, 2021 3:06 pm
Forum: Investing - Theory, News & General
Topic: What was the Dot-Com bubble like?
Replies: 167
Views: 11680

Re: What was the Dot-Com bubble like?

The other thing that sticks clearly in my mind, is Warren Buffett doing the math for people and saying that if you factored in the projected growth rates, these companies would own the whole market in a few years and that there was no way to justify the current multiples. Consensus was that he was ...
by FelixTheCat
Fri Feb 12, 2021 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Is it me or a lot of 2020 tax forms late this year?
Replies: 44
Views: 4315

Re: Is it me or a lot of 2020 tax forms late this year?

ncbill wrote: Fri Feb 12, 2021 2:25 pm I also have no 2020 tax info yet on the old Vanguard accounts I rolled over to another brokerage...seems weird.
I've have my old mutual fund accounts tax documents for a week+. I've also imported the data into TurboTax.

I also have the new brokerage account tax documents.
by FelixTheCat
Fri Feb 12, 2021 1:40 pm
Forum: Personal Investments
Topic: Easiest way to fund a Vanguard Roth for an adult child?
Replies: 24
Views: 1640

Re: Easiest way to fund a Vanguard Roth for an adult child?

Is your checking or savings attached to your daughter's account? I fund my Roth from my checking account.
by FelixTheCat
Wed Feb 10, 2021 8:01 pm
Forum: Personal Investments
Topic: Custodial account for minor - taxable?
Replies: 23
Views: 1444

Re: Custodial account for minor - taxable?

The child's SSN is on UTMA accounts.
by FelixTheCat
Wed Feb 10, 2021 5:51 pm
Forum: Personal Investments
Topic: Bogleheads' feedback compared to a Vanguard financial advisor???
Replies: 90
Views: 6996

Re: Bogleheads' feedback compared to a Vanguard financial advisor???

Similar thoughts as you... I enjoy this stuff too so it's not a hassle for me to keep on top of personal finance. I wonder if having an advisor for the SPEND DOWN period of life will be more necessary than having one during the accumulation phase of life.... because of old age, complex tax laws, et...
by FelixTheCat
Tue Feb 09, 2021 2:26 pm
Forum: Personal Investments
Topic: What should I do with my savings?
Replies: 5
Views: 575

Re: What should I do with my savings?

Right now I'm trying to figure out what to do with my liquid savings. It's all in CDs/savings accounts varying from 1-2%, but I know it's probably better to put it into the market, I just have no idea how much. I guess this has to do with how much risk I'm willing to take, but I'm considering just ...
by FelixTheCat
Tue Feb 09, 2021 1:48 pm
Forum: Personal Investments
Topic: Bogleheads' feedback compared to a Vanguard financial advisor???
Replies: 90
Views: 6996

Re: Bogleheads' feedback compared to a Vanguard financial advisor???

I would like to know their advice on one of the endless Boglehead debates. Should I invest in international? :happy
by FelixTheCat
Fri Feb 05, 2021 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Paying charities instead of income tax (CLAT?)
Replies: 17
Views: 1485

Re: Paying charities instead of income tax (CLAT?)

Why don't you get a Donor Advised Fund? Donate the appreciated equity and get the write off. Then you can schedule grants for any charity in the time you desire.

Here's Fidelity's version https://www.fidelitycharitable.org/
by FelixTheCat
Wed Feb 03, 2021 3:33 pm
Forum: Personal Investments
Topic: Backdoor Roth - A Literal Penny for Your Thoughts
Replies: 17
Views: 1025

Re: Backdoor Roth - A Literal Penny for Your Thoughts

Isn't the final step sending money to the Feds for the conversion? Let's say you are in the 22% tax bracket. 6,000 * .22 = $1,320.

Are you supposed to send the Feds $1,320 via EFTPS immediately after the conversion?
by FelixTheCat
Tue Feb 02, 2021 3:27 pm
Forum: Personal Investments
Topic: Your mental "tricks" to avoid doing dumb things?
Replies: 73
Views: 5345

Re: Your mental "tricks" to avoid doing dumb things?

Dr. Dad wrote: Tue Feb 02, 2021 3:13 pm The thing that has helped me: Taking my time to create an Investment Policy Statement that accurately reflects my wants, needs, judgement and style. And then rereading it as often as needed to stay the course.

Good luck,
DD
+1 on investment policy.
by FelixTheCat
Tue Feb 02, 2021 2:52 pm
Forum: Personal Investments
Topic: Mother in Law wants help investing 70K
Replies: 36
Views: 2219

Re: Mother in Law wants help investing 70K

lakpr wrote: Mon Feb 01, 2021 2:27 pm Based on the recent feedback from posters who do have VPAS or did have VPAS, I am not sure that they are worth it.
VPAS is great for people that do not want to do their own research. Not everyone wants to read Boglehead wikis or read countless posts in the forums.
by FelixTheCat
Tue Feb 02, 2021 2:43 pm
Forum: Personal Investments
Topic: Index fund advice for taxable account?
Replies: 8
Views: 1068

Re: Index fund advice for taxable account?

Here's a list of Vanguard funds and their Fidelity equivalent https://www.bogleheads.org/wiki/Fidelity

Here's a wiki article on tax efficiency and fund placement https://www.bogleheads.org/wiki/Tax-eff ... _placement
by FelixTheCat
Mon Feb 01, 2021 2:07 pm
Forum: Personal Consumer Issues
Topic: Car hit in parking lot (no note)
Replies: 69
Views: 6485

Re: Car hit in parking lot (no note)

I hope the laws have changed since this happened to me. I went into Home Depot. I came out and saw my left rear quarter panel was severely dented. No note. I called Allstate and they told me it falls under the moving violation part of my auto policy. I argued "My car was parked". I got a d...
by FelixTheCat
Mon Feb 01, 2021 1:44 pm
Forum: Personal Investments
Topic: How to convert a 401(k) account to an IRA account at Fidelity?
Replies: 23
Views: 1401

Re: How to convert a 401(k) account to an IRA account at Fidelity?

Initiate the roll over from the Fidelity website. Fidelity will handle the transfer. It is that easy.
by FelixTheCat
Mon Feb 01, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard 1099 Div instructions
Replies: 10
Views: 1173

Re: Vanguard 1099 Div instructions

If you are using TurboTax, you can import your forms.
by FelixTheCat
Mon Feb 01, 2021 1:34 pm
Forum: Personal Investments
Topic: Mother in Law wants help investing 70K
Replies: 36
Views: 2219

Re: Mother in Law wants help investing 70K

The parents have 100% of their money in safe fixed income investments. They probably will want something that is safe and will at least grow with inflation. I bonds? Tips? I suggest Vanguard's Personal Advisor Service. PAS should provide a complete financial picture of their financial situation prio...
by FelixTheCat
Mon Feb 01, 2021 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Is it me or a lot of 2020 tax forms late this year?
Replies: 44
Views: 4315

Re: Is it me or a lot of 2020 tax forms late this year?

I have all my forms except Fidelity.

The format of 1099-int, 1099-div and 1099-B haven't changed since last year. They shouldn't be late.
by FelixTheCat
Fri Jan 29, 2021 7:12 pm
Forum: Personal Investments
Topic: Early Retiree Withdrawal Stragegy
Replies: 14
Views: 1377

Re: Early Retiree Withdrawal Stragegy

KlangFool wrote: Wed Jan 27, 2021 7:36 pm
CASH is king.

KlangFool
Thanks for all of the advice.
by FelixTheCat
Wed Jan 27, 2021 7:07 pm
Forum: Personal Investments
Topic: Early Retiree Withdrawal Stragegy
Replies: 14
Views: 1377

Re: Early Retiree Withdrawal Stragegy

Not sure what you mean. Let's say my 3.5% withdrawal rate is 50,000 a year. I only need 40,000 to live on. Is that it? What do you mean by CASH? Money market fund. I thought Bogleheads considered short term bond funds cash. It sounds like you might be confusing your spending needs with your income....
by FelixTheCat
Wed Jan 27, 2021 7:06 pm
Forum: Personal Investments
Topic: Early Retiree Withdrawal Stragegy
Replies: 14
Views: 1377

Re: Early Retiree Withdrawal Stragegy

My portfolio is 50/50. I have money in Traditional IRA, Roth and Taxable. I was only worrying about my taxable account for now. I guess I need to do some more investigating. I am 58. Thinking about SS at 67. Is there a Boglehead book, wiki, or link that will give me a decent plan until I get a more ...
by FelixTheCat
Wed Jan 27, 2021 6:00 pm
Forum: Personal Investments
Topic: Early Retiree Withdrawal Stragegy
Replies: 14
Views: 1377

Re: Early Retiree Withdrawal Stragegy

OP, The first thing that you should do is turn off all automatic dividend/interest/distribution reinvestment in your taxable account. You should read this thread too. https://www.bogleheads.org/forum/viewtopic.php?t=87471 <<How to pay ZERO taxes in retirement with 6-figure expenses>> KlangFool Than...
by FelixTheCat
Wed Jan 27, 2021 6:00 pm
Forum: Personal Investments
Topic: Early Retiree Withdrawal Stragegy
Replies: 14
Views: 1377

Re: Early Retiree Withdrawal Stragegy

OP, 1) Do you care about tax management? Yes 2) Do you care whether you would be getting an ACA insurance subsidy? Yes If yes, you should accumulate more CASH into a buffer and separate your withdrawal from your actual expense need. Not sure what you mean. Let's say my 3.5% withdrawal rate is 50,00...
by FelixTheCat
Wed Jan 27, 2021 5:50 pm
Forum: Personal Investments
Topic: Early Retiree Withdrawal Stragegy
Replies: 14
Views: 1377

Early Retiree Withdrawal Stragegy

I am a consultant that may be out of work soon. I have read through the wiki and a lot of posts. I simply want to confirm my withdrawal strategy. In my taxable account I have Total Stock Index and two years worth of expenses in Short Term Bond Index fund. I plan to 1) Take 1/12 of my expenses from S...