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horse mans posted:Hi thread Be forewarned; with this much money and this callow understanding, you may find people trying to fleece you.
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Jan 15, 2014 00:24
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Weinertron posted:If you don't want to do any work, I would find a fee-based personal finance adviser and pay him to tell you what to do based on your specific situation. I don't mind doing a little work but it's a lot of money and I know I'd gently caress it up so I'd much rather hand it off to someone who knows what they're doing. That said: - I probably won't be retiring for 40 years - I don't know the kind of income I'd need. I'm in my late 20s, don't drive, and rent, so I don't have a lot of expenses, but that (obviously) could change over my lifetime - I'm in Germany, but a US citizen, on a work visa. I'd like to stay in Europe - I don't know what you mean by tax situation, but right now I'm paying taxes in both countries, but from what I understand there's tax credits to offset that. I suppose I should also say I have a 401k with about 60k in it in the US, but now that I'm in Germany I'm paying into the pension system here. Don't know how much though. bam thwok posted:Be forewarned; with this much money and this callow understanding, you may find people trying to fleece you. There's got to be reputable firms though, right? Catalyst-proof fucked around with this message at 00:47 on Jan 15, 2014 |
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Jan 15, 2014 00:38
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horse mans posted:There's got to be reputable firms though, right? If you do a bit of reading, you at best won't need any firm, and at worst won't choose a poo poo firm (or know what the warning signs are). Pick up 4 Pillars from the OP and read it cover to cover. You'll realize how simple it all is and kick yourself for not doing the obvious easy smart things sooner, while simultaneously despairing about what your future might have been otherwise :p This is one of those times where if you skip it you'll do it anyway in a few years and be mad you didn't sooner, so jfdi.
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Jan 15, 2014 05:26
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EDIT: Nevermind
Minty Swagger fucked around with this message at 06:44 on Jan 24, 2014 |
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Jan 15, 2014 06:37
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I use Vanguard for my IRA and Fidelity for my taxable brokerage. It works pretty well. In Vanguard you can manually input the ticker symbol and number of shares you hold in other accounts and their asset allocation tool includes them in your numbers. My only problem is that I haven't figured out how to label the closed-end muni funds I manually entered as "Bonds" but I just correct for that in my head when looking at their numbers.
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Jan 15, 2014 09:42
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horse mans posted:I don't mind doing a little work but it's a lot of money and I know I'd gently caress it up so I'd much rather hand it off to someone who knows what they're doing. That said: You're paying 9.45% of your income into the pension system every month (with a matching contribution from your employer). Your pension then vests after 60 months/5 years of payments. If you leave Germany before that time, you are able to get your contributions (but not any interest or your employer's contributions) back once you've been gone for two years. As someone who is basically in your situation (late 20s, renting, no car, not retiring for a good while) I've been looking into what to do with my more meager retirement savings and not come up with much. My plan so far has been to contribute to a Target Retirement Fund from Vanguard in a Roth IRA (just starting this year because you need "earned income." Whether or not income you exclude via the FEIE still counts for Roth IRA contributions is up in the air as my accountant said that it was OK but then that I needed to use foreign tax credits. The guys in the Income Tax Thread though have said you can still contribute to a Roth IRA while taking the FEIE. I think it's probably safest to just use foreign tax credits so that you definitely have taxable earned income as you should never end up paying less tax in Germany than you would owe in the US. Something I keep reading about but haven't found much good info on is what this (having investments in the US) means for the German side of things. I would not invest in a foreign-based mutual fund/investment as that creates a ton of headaches for your US taxes and many places won't accept you as a client if you're American (or so I've heard, I've never tried). Germany taxes capital gains at a flat 25% + solidarity surcharge (I think it comes out to be like 26.5% or something) so you need to keep that in mind if you sell anything. You get 801€ of interest income tax-free every year. The one thing I haven't been able to get a good answer about is something I've read regarding a penalty tax for investment funds that don't do their accounting in accordance to German accounting principals. I'm not sure what this means as I'm sure there are thousands of American expats who have some sort of 401(k) or Roth IRA who are in Germany for a few years of work who don't just sell any stocks/funds they own upon entering Germany. I also imagine that those people don't just stop contributing to their retirement accounts. I spoke with an accountant here earlier this week to see what to do about this and he seemed to think that I would just have to pay the 25% tax on any gains I realized from those accounts, but that I wouldn't have to deal with anything else. The folks on ToyTown (I really dislike the forum, but it can sometimes be a good resource for Germany-specific things) seem to think there's no way around this penalty or at least don't really offer any good solutions. Total Confusion fucked around with this message at 11:26 on Jan 15, 2014 |
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Jan 15, 2014 11:23
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Gold and a Pager posted:You're paying 9.45% of your income into the pension system every month (with a matching contribution from your employer). Your pension then vests after 60 months/5 years of payments. If you leave Germany before that time, you are able to get your contributions (but not any interest or your employer's contributions) back once you've been gone for two years. Thanks so much for all of this, this helps put things in perspective. Vehementi posted:If you do a bit of reading, you at best won't need any firm, and at worst won't choose a poo poo firm (or know what the warning signs are). Pick up 4 Pillars from the OP and read it cover to cover. You'll realize how simple it all is and kick yourself for not doing the obvious easy smart things sooner, while simultaneously despairing about what your future might have been otherwise :p This is one of those times where if you skip it you'll do it anyway in a few years and be mad you didn't sooner, so jfdi. Will do, thanks. I hear all this poo poo about making my money work for me and it seems like I could stand to make that happen if I dove into it and started investing. I'm young and can take on a bit of risk so better sooner than later I guess.
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Jan 15, 2014 13:58
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Is there any point in having money invested in bond index funds? When I first started investing I didn't really know what I was doing and decided to use my ROTH as an emergency fund vehicle so most of my money went into a bond index. As much as I regret that now (I've moved new contributions to stocks since then) I kinda like knowing I have a ton of safe money in my ROTH that I could move into stocks if a crash were to ever happen. My guess is it's probably best to either diversify to other bond funds (10k) or to just transfer everything to stocks now but I figured I would get BFCs (buy the stocks you idiot) opinion before I made a decision. Sephiroth_IRA fucked around with this message at 15:58 on Jan 15, 2014 |
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Jan 15, 2014 15:47
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I'm no expert, but I would fully diversify. Do you have a cash emergency fund? Because that is the only place to store an emergency fund, IMO. If you don't have a cash emergency fund, I would pause/slow retirement funds and bump up your emergency fund, and then continue with the investing.
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Jan 15, 2014 16:36
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Yeah, I need to rebuild my cash emergency fund but I'm not far off from having a one year fund. My wife has some money in her home country she's going to get back once she goes on vacation and I'll be collecting on a loan soon. Anyway, I really need to put pen to paper and come up with an actual diversification strategy. Right now everything is invested this way: Wife's 401k: Vanguard Institutional Index: 50% Vanguard Total International Stock Index: 40% Sterling Total Bond Index: 10% Wife's Roth IRA: Vanguard Short Term Bond Index: 64% Vanguard 500 Index: 36% My Roth IRA: Vanguard Short Term Bond Index: 64% Vanguard 500 Index: 36% I understand that I need to be looking at this as one portfolio. I'll take another look at The Four Pillars when I get home tonight but right now I'm leaning toward adjusting my Roths to reflect how I have my wife's 401k diversified but I would also add fund to represent the mid-cap market since I suppose that's the only thing that's not represented.
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Jan 15, 2014 17:33
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You know what blows? Living pretty well on fellowships as a grad student, but since fellowship money IS taxable but is NOT counted as earned income, I can't contribute anything to my Roth IRA. Again. For six of the last seven years of my twenties. (One year I had enough money from side work)
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Jan 15, 2014 17:45
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My employer, a big state university, just promoted me to full-time status  Now I have to work on my 403B choices. Our vendor choices are a bunch of poo poo (Valic, MetLife, Pentegra) with the exception of Fidelity, so I'm going with them. I'm living overseas and all of my expenses are paid, except food, so I'm going to take advantage of this situation and shovel $1,000 per month into the 403. Additionally, 6.25% of my pre-tax pay is automatically withdrawn into my state's pension fund.Age: 28 Debt: $6,500 in a student loan, 2% interest Roth IRA: Vanguard 2050 fund: $13,800 I'd stick with a target date fund, but the Fidelity Freedom 2050 fund charges 0.61% in fees, so it seems like I'm better off rolling my own. Thoughts? My planned 403B portfolio (95% stock/5% bond): 50% FSTVX Fidelity Spartan Total Market Index 0.07% fee 45% FSGDX Fidelity Spartan Global ex. US Index 0.28% fee 5% FSITX FIdelity Spartan US Bond Index 0.17% fee curried lamb of God fucked around with this message at 19:41 on Jan 15, 2014 |
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Jan 15, 2014 19:09
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180% total stock/bond? :v I'd put more toward domestic and bonds, but less in international, unless you have a specific strategy in mind.
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Jan 15, 2014 19:36
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I know a lot of people here are less bullish on bonds than Bernstein is in Four Pillars, but anything above 90% stock seems a bit much to me.
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Jan 15, 2014 19:47
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ETB posted:180% total stock/bond? :v You got me  Yeah, upon doing further research, I'll probably go 60 Domestic/35 Int'l/5 Bonds. I'm leaning towards less bonds since it looks like the state pension fund is 18% bonds, but I'm amenable to changing my asset mix. Edit: Nail Rat, just saw your post. 10% it is! curried lamb of God fucked around with this message at 20:01 on Jan 15, 2014 |
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Jan 15, 2014 19:49
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surrender posted:I'm leaning towards less bonds since it looks like the state pension fund is 18% bonds, but I'm amenable to changing my asset mix. Ah that makes more sense then. quote:Edit: Nail Rat, just saw your post. 10% it is! 10% is what I often see thrown around in this thread for people in their 20s/30s, but yeah taking into account your pension, you should probably see if you can figure out exactly how that's split, exactly how much you're going to put into the 403b and then try to plan your 403b and pension as one portfolio. You have some great choices in the 403b(at least compared to the poo poo I have in my 401k where Vanguard S&P 500 is the only really low cost index fund not in a mixed asset class  ). You probably can get away with 5% if you have 18% bonds in the pension fund; if you're paying 6% into your 401k and you have a total of 13.5% going into your pension with match, you'd still end up with like 13% bonds across both.
Nail Rat fucked around with this message at 20:05 on Jan 15, 2014 |
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Jan 15, 2014 20:01
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berzerker posted:You know what blows? Living pretty well on fellowships as a grad student, but since fellowship money IS taxable but is NOT counted as earned income, I can't contribute anything to my Roth IRA. Again. For six of the last seven years of my twenties. (One year I had enough money from side work) Can you not deduct a significant portion of that from your taxable income through the tuition & fees deduction?
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Jan 15, 2014 20:54
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flowinprose posted:Can you not deduct a significant portion of that from your taxable income through the tuition & fees deduction? While I'm not aware of berzerker's situation, generally the answer is "sort of," in the sense that you don't have to pay taxes on the money that the school receives from the fellowship as payment for your tuition. But since the tuition is paid by money that isn't taxed you can't claim the deduction.
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Jan 15, 2014 21:14
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Shear Modulus posted:While I'm not aware of berzerker's situation, generally the answer is "sort of," in the sense that you don't have to pay taxes on the money that the school receives from the fellowship as payment for your tuition. But since the tuition is paid by money that isn't taxed you can't claim the deduction. Yep, this. Since I have an external fellowship, the university pays my tuition and fees. So they pay me an extra ~$16k, charge me an extra $16k, and it's basically a wash. Meanwhile, I really ought to prepay some of these taxes, I guess. If I estimate my taxes for the year and send that in now, do I really have to make four estimated payments rather than one to avoid the penalty? Most years I just eat the penalty for not prepaying.
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Jan 15, 2014 21:17
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Nail Rat posted:Ah that makes more sense then. Yeah, I really lucked out with having Fidelity as an option. While their 2050 target fund fees are a bit high for me at 0.69%, the target funds at other vendors are charging 1.21% and up, and none of them offer the same variety of low-cost index funds. Edit: My pension is matched, yeah, so I'm getting a total of about 13.5% into the pension. If my math is correct, I'm going to pay about 21% into the 403B. Even though the 403B itself isn't matched, I'm already maxing out my Roth IRA contributions. curried lamb of God fucked around with this message at 21:25 on Jan 15, 2014 |
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Jan 15, 2014 21:22
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How do people feel about using a Stable Value fund in connection with or in place of a bond fund? I've elected to split the difference and do 50% bonds/stable value each. Every bond fund in the offering through work has lost 2-3% in the last year or so, figuring the average 2-3% return the from the stable value fund will help mitigate some of that until the next shift in the portfolio.
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Jan 15, 2014 21:40
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Untagged posted:How do people feel about using a Stable Value fund in connection with or in place of a bond fund? I've elected to split the difference and do 50% bonds/stable value each. Every bond fund in the offering through work has lost 2-3% in the last year or so, figuring the average 2-3% return the from the stable value fund will help mitigate some of that until the next shift in the portfolio.
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Jan 16, 2014 03:31
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SiGmA_X posted:I don't know what a stable value fund is, but don't you think your stocks mitigate the bonds? A stable value fund these days returns 1-3%, with roughly 1.5% being the norm. It's a money market with a pinch of risk.
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Jan 16, 2014 04:16
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I just want to double-check that I understand things right before I go talk to my employer's HR again. I just got my W-2 for 2013, and they have deducted my Roth 401k contributions from taxable wages. Is this correct? I should owe taxes on money contributed to Roth accounts right now, yes?
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Jan 16, 2014 18:39
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Weinertron posted:I just want to double-check that I understand things right before I go talk to my employer's HR again. I just got my W-2 for 2013, and they have deducted my Roth 401k contributions from taxable wages. Is this correct? I should owe taxes on money contributed to Roth accounts right now, yes? Those are after-tax contributions, which means you should have already paid taxes on them and they should not be deducted.
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Jan 16, 2014 19:18
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SiGmA_X posted:I don't know what a stable value fund is, but don't you think your stocks mitigate the bonds? From Investopedia... "An investment vehicle found in both company retirement plans and, quite recently, IRA accounts. Stable value funds are comprised of mostly 'synthetic GICs' (known also as wrapped bonds) because of their inherent stability. These bonds can be short or intermediate term with longer maturities than other choices such as money market funds. They are paired (or wrapped) with insurance contracts to guarantee a specific minimum return." And while yes, I would hope stocks would mitigate bonds and have the bonds act as an "anchor" for the rest of the portfolio in the times of downturn. That said, the bond funds in my offering have huge expense ratios and coupled with having lost value over the last year or two and continued downturn make "insured" bond style "stable funds" look more appealing. Although they tend to eventually follow the bond market, I can pull out of the fund and place it in a regular bond fund in the event the bond market turns around significantly. Basically paying some rate of return back to pay for the insurance of having an average of 2.5% return.
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Jan 16, 2014 19:27
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What makes you think you can tell when the bond market turns around significantly? This is kind of the anti-market-timing thread, you know. Because of the cost of the insurance contracts in the stable bond funds, the expected return over the long term will be less than a plain bond fund. They aren't going to be some kind of magic that gives higher expected return at the same risk - you're just choosing a different place on the risk/return curve. Not making any value judgment, just saying that's what's going on.
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Jan 16, 2014 19:35
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slap me silly posted:What makes you think you can tell when the bond market turns around significantly? This is kind of the anti-market-timing thread, you know. I'm specifically not trying to time the bond market since these funds eventually "follow" the bond market up or down relative to the cost of the insurance, just trying to ask opinions from you all about using a stable value fund as another avenue to help mitigate risk on the bond side of the portfolio. I say you can pull out of it if things turn around significantly in the sense that if the bond funds offered here show signs of life eventually it's not a stretch to change things. It's also why I've elected to try a 50/50 split first between both instead of all in one or the other.
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Jan 16, 2014 19:48
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Untagged posted:I'm specifically not trying to time the bond market since these funds eventually "follow" the bond market up or down relative to the cost of the insurance, just trying to ask opinions from you all about using a stable value fund as another avenue to help mitigate risk on the bond side of the portfolio. I say you can pull out of it if things turn around significantly in the sense that if the bond funds offered here show signs of life eventually it's not a stretch to change things. It's also why I've elected to try a 50/50 split first between both instead of all in one or the other. What risks are you trying to mitigate? If you're primarily concerned about interest rate risk, you should be purchasing bond funds that have an average duration short enough to not be significantly affected by changes in rates. If it's inflation risk, you should be purchasing inflation protected bonds. If you think bonds are overpriced relative to stocks, then you want to consider overweighting stocks compared to what you might otherwise allocate. There's also default/credit risk and call/reinvestment risks, but those probably won't be on your radar if you're purchasing a bond fund as opposed to individual bonds. Default risk I guess could be a worry if you're purchasing a junk bond fund, but if so those probably shouldn't be considered as part of your bond allocation since they don't behave the same way. Call risk right now is probably pretty much as low as it will ever be, given that rates really can't go any further down. If the expense ratio of your bond offerings are lovely, you can always allocate those in your IRA and leave your stocks in your 401k.
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Jan 16, 2014 21:56
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I know this isn't the market timing thread, but the consensus right now is interest rates are going to rise and bond funds are going to go down in price. If you press people on "why" they will usually say something stupid like "they have nowhere to go but up" because the fed currently has low interest rates. In other words, if you're like me, you see bond prices as staying stable or going up in value because the consensus is based upon pretty retarded analysis. Inflation leads bond yields, and if you haven't noticed the overarching forces right now in the economy are deflationary, so in the short to mid term it's hard to imagine yields going up rapidly. Because there is so much irrational fear, you can get a pretty good discount on bond CEFs right now. People are literally selling these at a 10% discount from what the underlying assets are worth. If you purchase municipal bond CEFs you can get a tax adjusted return of about 7% if that income will be in a high marginal tax bracket. cefconnect.com is a good site for finding these. edit: Also, it's important to understand what "interest rate risk" actually means. If you are re-investing your coupons the real risk is always going to be inflationary risk. Interest rate risk is basically only an issue if you have plans or want the flexibility to withdraw your principal before the net duration of the funds you are in. see: http://www.bogleheads.org/wiki/Individual_bonds_vs_a_bond_fund nebby fucked around with this message at 04:21 on Jan 17, 2014 |
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Jan 17, 2014 04:15
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Just throwin' this out there... If your employer matches your RPP (or whatever the US equivalent is of defined contribution pension plan using pre-tax dollars) contribution but the poo poo fund you're forced to use underperforms by 2%, then looking at a 30+ year time horizon it would actually be better to not contribute, start with half the principal, and invest in something that doesn't suck. If the funds you have to use underperform by more than 2%, the time horizon is sooner. Of course, this assumes that you'd be staying with that company for the duration of the suck. If you quit your company you can move the RPP into your own choice of investments and enjoy the free double bucks. Vehementi fucked around with this message at 17:31 on Jan 17, 2014 |
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Jan 17, 2014 17:29
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So I'm in my mid-twenties and have been taking a fairly uninformed approach to retirement savings. At my previous job, I managed to invest ~$7,800 into a 403(b) with TIAA-Cref (all in TIAA-CREF Lifecycle 2050 Fund - Institutional Class - .47% net expense ratio). At my new job (with no matching), I'm currently deferring: 6% into a 401(k) 6% into a Roth 401(k) Both 401(k) plans are with Vanguard and all in Vanguard Target Retirement 2050 Inv (VFIFX) for the moment. I don't currently have an IRA or any other investments/retirement savings beyond some money in a state pension system (used to be a state employee) that I just plan on leaving there. How should I best handle my old 403(b)? Just let it be? Should I begin rolling $5,500 per year from the 403(b) into a Roth IRA with a lower ER (maybe with Vanguard) and then start picking up the difference to make sure I am fully funding it each year moving forward? Is the hedging-my-bets 6% in each 401(k) option stupid? Should it all be going into the Roth 401(k)? Should I drop the deferral percent since there isn't any matching and put it into something else entirely? Other than that, my finances are in decent shape. Have a emergency fund all set up and am putting additional money away into online savings for a down-payment on a house sometime in the next decade.
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Jan 18, 2014 17:02
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Rollovers aren't contributions, so you can roll the whole 403b into an IRA and still contribute 5500.
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Jan 18, 2014 18:45
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Tenderloin posted:How should I best handle my old 403(b)? Just let it be? Should I begin rolling $5,500 per year from the 403(b) into a Roth IRA with a lower ER (maybe with Vanguard) and then start picking up the difference to make sure I am fully funding it each year moving forward? quote:Is the hedging-my-bets 6% in each 401(k) option stupid? Should it all be going into the Roth 401(k)? Should I drop the deferral percent since there isn't any matching and put it into something else entirely? There isn't really a definitive answer for how much you should allocate in between pre-tax/Roth, but the general word of advice is that Roth matters more while you are young as you will likely be in a low tax bracket.
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Jan 18, 2014 18:53
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Has anyone done a rollover from a Wells Fargo 401k before? It looks like I'm going to have to call them, and I was wondering if they could transfer it directly to Fidelity or if I would need to screw around with a check.
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Jan 18, 2014 19:11
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ntan1 posted:Roll it over into a traditional IRA (which does not cause an increase in taxes) with Vanguard and put it into the Target Fund there for a .18% expense ratio. You can roll it into a Roth IRA if you would like, but that is not necessary. If you do roll over to a Roth IRA as opposed to a traditional IRA, you will have to pay taxes on the money you are rolling over. The other reason why I like Roth for my IRA despite being in the 25% bracket after about 30k of various deductions is that you know you don't have to pay any taxes on it later. With my traditional 401k, who knows what the crazy tax codes will be in 40 years. It's nice to have a segment of retirement income that's a known commodity.
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Jan 18, 2014 23:12
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Nail Rat posted:The other reason why I like Roth for my IRA despite being in the 25% bracket after about 30k of various deductions is that you know you don't have to pay any taxes on it later. With my traditional 401k, who knows what the crazy tax codes will be in 40 years. It's nice to have a segment of retirement income that's a known commodity. There is the remote possibility that future laws could be written to tax the earnings on Roth IRA's, or that the minimum age to withdraw without taxes/penalty may rise. Though it's likely that if this happens they will grandfather in any pre-existing IRA accounts.
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Jan 19, 2014 00:45
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What is far more likely is they implement a VAT tax which effectively would double tax a Roth. That said, I'm still a big fan of Roths.
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Jan 19, 2014 08:11
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kansas posted:What is far more likely is they implement a VAT tax which effectively would double tax a Roth. That said, I'm still a big fan of Roths. You're right, actually. I have thought about that before, but it neglected to cross my mind this time around. I agree that a Roth IRA is an excellent investment vechicle. I just think you should be careful with considering it a guaranteed portion of your retirement, because that's not necessarily true. With the point that Nail Rat was trying to make, which is that 401k's will be subject to who knows what in terms of tax codes in the future, I was just trying to add that there's the possibiliy Roth accounts will be affected by future changes as well. I don't think it's a bad idea to diversify your investment vehicles just like you do your asset allocation. Most people will probably end up doing this anyway, since the amount you can contribute to a Roth IRA is small compared to what you will probably need to invest for retirement overall, and for many that is the only access they have to a Roth account. However, if you have a Roth 401k, it might be prudent to consider splitting some of your contributions between traditional and Roth. This also might come into play if you have a large 401k that you roll-over once you leave an employer. It might not be a bad idea to leave part of that as deferred/traditional instead of converting the entire amount to Roth. One thing that needs to be kept in mind is that your traditional accounts, though they will eventually be taxed, are not likely to be taxed fully at your marginal rate. When you contribute to them, however, you are always deducting income directly from your marginal rate. So it's almost like a double benefit. If you are in the 28% bracket, for example, you are saving 28% on some (if not all) contributions to your 401k. But a significant portion of the money you pull out in retirement will be taxed at the lower brackets first (assuming you aren't still working when you have to start taking minimum distributions).
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Jan 19, 2014 22:20
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So I just sold one of my cars for about 13k and I wanted to see if there was a way for me to safely save this money and maybe build a bit of interest over the next 10 years or so. I want to use this initial money to start a fund to save for a pretty big down payment on a house in the next 10 years or so, when I can retire from the military. I hope this is the appropriate place to ask for some basic advice.
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Jan 20, 2014 02:19
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