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Mausi posted:Hi guys, I'm based in the UK but hopefully the general advice is transferable - I'm 32 with simple retirement goals of getting the basics moving and working some additional 3-5 year savings goals towards a house. This is the first year I've been debt free so I'm starting to look beyond the standard company pension and into investments. https://www.movevator.com is the best UK personal finance resource I've found. You say that you're saving for a deposit - does this money include your S&S ISA savings? Bear in mind you're taking a risk when putting money in the stock market - which is not to say that you shouldn't do it, but if you're only planning to leave this money for a couple of years, it might be better to go for a safer investment, like a decent savings account or buying a bond outright. At the end of the day, over a short time period, it's more important to protect your principle than to risk it over a slightly higher return. Having said all of that, I'm in a similar position myself, saving for a deposit which I'll hopefully need in 2 years time - I have a S&S ISA from last year which I'm going to keep, it's been useful learning about investing, and has spurred me on to sorting my pension out properly. As of this year (and the NISA changes), all future-house-deposit savings will go into cash ISAs again, to protect my savings. Unless I'm giving terrible advice in which case someone please speak up  Oh and one last thing - if you are going to use a S&S ISA, don't go with HSBC, they're not the cheapest and the only index funds available are their own ones. For a portfolio of less than £10k, charles-stanley-direct.co.uk is the cheapest and best (and has vanguard index funds available).
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Apr 8, 2014 21:52
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Dakha posted:https://www.monevator.com is the best UK personal finance resource I've found. quote:You say that you're saving for a deposit - does this money include your S&S ISA savings? <snip> like a decent savings account or buying a bond outright. At the end of the day, over a short time period, it's more important to protect your principle than to risk it over a slightly higher return. Given those events have impossible to predict timeframes, I want to arrange my finances in a safe enough but growing position so I don't waste potentially years of compound interest. So what I've attempted so far is a outward scale of safe (cash, low-access-savings) through bank-guaranteed savings schemes (ISA, Fixed rate deposit), to S&S ISA (stocks etc.) so that I can cover my bases. Only about a third of what I have is in the S&S, so hopefully that's not too risky at this stage? What's the potential return on 'buying a bond outright'? I saw 2%ish for 3-5 years on fixed rate bonds, but perhaps you mean something else? quote:I have a S&S ISA from last year which I'm going to keep, it's been useful learning about investing, quote:Oh and one last thing - if you are going to use a S&S ISA, don't go with HSBC, they're not the cheapest and the only index funds available are their own ones. For a portfolio of less than £10k, charles-stanley-direct.co.uk is the cheapest and best (and has vanguard index funds available).
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Apr 8, 2014 22:17
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Mausi posted:
Buying and holding a bond to maturity historically tend to be slightly better returns than a savings account. That said interest rates are crazy low right now so 2% could well be the going rate, I didn't actually check. The point is, its another safe way to hold your deposit while you save. That said, if you really do have 5+ years to save, then maybe a riskier portfolio is OK Check out Smarter Investing by Tim Hale. It's like 4 Pillars, but written for the UK. There's a section on exactly this issue if I remember correctly
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Apr 8, 2014 23:07
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Dakha posted:The point is, its another safe way to hold your deposit while you save. quote:Check out Smarter Investing by Tim Hale.
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Apr 8, 2014 23:44
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Hi everyone, I could use some advice. I'm 28, currently making good money as a lawyer. I have about $50k left on my student loans (down from six figures) at 6.55%. I pay more than twice the minimum on those and should be clear in less than three years at my current rate. I max out my 401(k) (no match) and my IRA (backdoor Roth) and I have a $21k emergency fund as well as a savings account I just started for a house/condo down payment (likely not for a few years). I have some extra cash flowing in above my expenses, current loan payments, and savings goals and am trying to decide whether to put everything extra towards my loans or to put it towards something long term - I was thinking one of Vanguard's life strategy or target retirement funds. My primary goal is to ensure my comfortable retirement, my secondary goal is to retire earlier than 60. Any thoughts appreciated.
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Apr 9, 2014 03:00
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minarets posted:Hi everyone, I could use some advice. I'm 28, currently making good money as a lawyer. I have about $50k left on my student loans (down from six figures) at 6.55%. I pay more than twice the minimum on those and should be clear in less than three years at my current rate. I max out my 401(k) (no match) and my IRA (backdoor Roth) and I have a $21k emergency fund as well as a savings account I just started for a house/condo down payment (likely not for a few years). I have some extra cash flowing in above my expenses, current loan payments, and savings goals and am trying to decide whether to put everything extra towards my loans or to put it towards something long term - I was thinking one of Vanguard's life strategy or target retirement funds. My primary goal is to ensure my comfortable retirement, my secondary goal is to retire earlier than 60. Any thoughts appreciated. Trimming debt is always good since student loans always have relatively high interest rates compared to car or a home loan. Sounds you are doing everything else correct since due the math of compounding starting retirement savings sooner rather than later makes a big difference. As for home ownership it's worth evaluating if it's right for you since things like the big downpayment are often better used to eliminate excess debt or even fund a diversified investment portfolio. etalian fucked around with this message at 03:40 on Apr 9, 2014 |
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Apr 9, 2014 03:37
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minarets posted:Hi everyone, I could use some advice. I'm 28, currently making good money as a lawyer. I have about $50k left on my student loans (down from six figures) at 6.55%. I pay more than twice the minimum on those and should be clear in less than three years at my current rate. I max out my 401(k) (no match) and my IRA (backdoor Roth) and I have a $21k emergency fund as well as a savings account I just started for a house/condo down payment (likely not for a few years). I have some extra cash flowing in above my expenses, current loan payments, and savings goals and am trying to decide whether to put everything extra towards my loans or to put it towards something long term - I was thinking one of Vanguard's life strategy or target retirement funds. My primary goal is to ensure my comfortable retirement, my secondary goal is to retire earlier than 60. Any thoughts appreciated. All extra money into loans. The issue with putting money into a diversified investment portfolio is that you can only expect a maximum of 10% return/year, and this is on a full risky stock allocation. Those diversified investments are also eventually taxed, decreasing the actual true gain. Compare that to a pretty high 6.55% student loan figure, then you should really be killing all of your loans first. Since you're making quite a bit of money, consider doing it in one year.
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Apr 9, 2014 06:48
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Thanks, that's what I'll do then.
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Apr 9, 2014 12:47
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Mausi posted:Hi guys, I'm based in the UK but hopefully the general advice is transferable - I'm 32 with simple retirement goals of getting the basics moving and working some additional 3-5 year savings goals towards a house. This is the first year I've been debt free so I'm starting to look beyond the standard company pension and into investments. Firstly - you can probably get a better ISA rate. http://www.moneysavingexpert.com/savings/best-cash-isa has some options. Secondly, HSBCs shares platform is actually quite limited. I use it because I've got an HSBC account, I've identified some funds that I want to hold, and I'm on the edge of getting a Premier account which I want because, well, I'm a prick. Hargreaves Lansdowne also isn't bad, if Charles Stanley doesn't press your buttons. If you're only looking at <£10k then just invest in index funds. No need to go any more exotic than that at the moment. Also keep in mind that from July we move to New ISAs where you have a £15k allowance and they are fully transferable between cash and S&S.
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Apr 9, 2014 13:40
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tentish klown posted:If you're only looking at <£10k then just invest in index funds. No need to go any more exotic than that at the moment. quote:Firstly - you can probably get a better ISA rate. http://www.moneysavingexpert.com/savings/best-cash-isa has some options. Fees notwithstanding, I'm not afraid of taking a few quid hit as punishment for jumping without looking first.
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Apr 9, 2014 14:40
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Mausi posted:Check, I'm getting this message from a few people now so it's sinking in nicely. This years ISA - I assume you mean 13/14? Are there fees for moving money out of it? I wouldn't think so at the rate you're getting, but I thought I'd check. Yes, you can move money from one ISA to another, you just need to check (and moneysavingexpert is useful for this) that the new ISA is eligible for incoming transfers. The other thing to think about is that you DO NOT TAKE THE MONEY OUT to transfer it. There are forms that you need to fill in, and the banks will transfer the funds for you. Otherwise you'll have just used up part of your allowance for this year (14/15). These are generally free of fees as well.
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Apr 9, 2014 15:52
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Ok cool, thanks for clearing that up. Sounds like I have some time to do my homework now, and then I can aim for the new rules in July to pick a good fit for Cash/S&S ISA then hopefully consolidate it into one place. Not that I have to wait until July, but it's a handy reminder. The advice is very much appreciated, thanks
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Apr 9, 2014 16:16
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Hello guys; I just transferred to the UK for work and have started reading up on ISAs and was hoping to get some advice here. In my current contract I am able to keep investing in my US 401k, and given the substantially higher taxes I'll be paying now that I'm a UK tax resident, I've already started maxing out my 401k pre-tax contributions. On top of that I still have some cash savings in a US savings account, my first question would be if there is any issue with using my US savings (earned before I became a UK tax resident) to open and max out a S&S ISA. Assuming I'm able to open an S&S ISA with some of my savings, this would still leave me with a pretty decent cushion in my US savings account for anything unexpected and my 401k as a retirement safety net, so I would like to be a bit more aggressive with my ISA by doing self directed stock market trades; what is a good broker in the UK? I'd probably be doing something in the range of 30 or so stock moves per year. I did some browsing yesterday and came across IWeb, they have a £25 opening fee and a £5 per transfer fee which seems to be pretty low. I've never actually had a self directed stock market account, so I know nothing of the costs associated with running one, which costs should I expect to have from owning a self directed S&S ISA? I've seen opening fees, stock trade fees (per transfer and as a % of the move), is there anything else I should be looking out for? Is there a UK investing megathread I missed somewhere? And one final question, probably the wrong thread for it; are there any saving options available in the UK that I can put money into pre-tax? I'm getting hit pretty hard in that Higher Rate bracket and any reduction to my taxable income would be great. Thanks.
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Apr 10, 2014 12:23
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SoUr posted:Hello guys; I just transferred to the UK for work and have started reading up on ISAs and was hoping to get some advice here. Hey. I just want to preface the below with the information that I don't know anything about how the US treated foreign-earned income. I have heard that they tax you as well as the government of whatever country you earn in, but you are better off finding out that stuff from someone else entirely! There's nothing (as far as I know) that dictates where/when the money for an ISA has to be earned. So I believe that yes, you can open and max out an ISA with previous savings. For my stock market trades I use Hargreaves Lansdowne, they don't charge a fee to open accounts but their transfer fee ranges from £6 to £12 depending on how often you trade. However, in my experience they offer quite a good range of funds as well as the normal exchange-traded shares. There's no UK investing megathread as far as I am aware - if there is I would like to be directed there! For pre-tax options you are talking about SIPPs (self invested pension plans) which come with all the strings attached that pensions do (i.e. don't take it out before you're old otherwise you get taxed lots). EDIT: Dakha is right, you can't take your money out at all until you're old. Otherwise, look up EIS and SEIS investments - these are investment schemes for early stage companies that give generous tax breaks. EIS gives you 30% of your investment as income tax relief, SEIS 50%. Also if you hold the shares for 3 years then you don't pay capital gains if the companies actually make it somewhere and you can sell up. Websites that make this easy include Seedrs and Crowdcube, otherwise you'll have to do your own networking to find companies that are looking for investment. Hope this helps a little bit - I'm happy to go further in-depth on any areas if you want more detail! tentish klown fucked around with this message at 16:29 on Apr 10, 2014 |
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Apr 10, 2014 13:02
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Here's a comparison chart for UK brokers: http://monevator.com/compare-uk-cheapest-online-brokers/ Hargreaves Lansdown, mentioned by Tentish Klown, are probably the largest broker in the UK. They're also amongst the most expensive. I use them, mainly because when I started investing I didn't realise fees were so important so just went with the one I'd heard most about. In retrospect I regret not going somewhere cheaper. Also, I'm pretty sure it's impossible to withdraw from a SIPP before you reach retirement age. Currently that's 55, though this is increasingly likely to change to 57 or above.
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Apr 10, 2014 15:34
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I'm somewhat confused with the wording on the SIPP; these aren't really pre-tax savings, you just get a tax refund for them? Would the money I put into an SIPP reduce my Adjusted Gross Income? This is important for me since I have to report my income to the US as well.
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Apr 10, 2014 16:44
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You put after tax income into a SIPP. 6 weeks later you receive a 20% top up into the account. If you're an additional or higher rate tax payer you'll receive an additional tax refund at the end of the year (or every pay check if you inform hmrc exactly how much you contribute regularly. E.g. If you contribute £100 a month as a 40% taxpayer, your SIPP will get £100 from you, £20 from hmrc and you'll get another £20 paid back as a tax refund either monthly or yearly into your normal bank account. Not sure what the US tax implications are but the net result is you are paying from your pre tax salary (assuming you also pay your additional tax rebate into your SIPP, though you don't have to)
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Apr 11, 2014 06:45
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Is there a limit to how much I can put into an SIPP? From what I've read it sounds like you can put in up to 50,000 GBP? I've read in other forums however that there is some contribution limit tied to your total income? Assuming I start one and contribute to it for 2 or 3 years before I get transferred back to the US, I'm assuming the fund would keep growing tax sheltered until I am old enough to retire; would it then be taxed by the UK when I take money out or by whatever country I currently live in?
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Apr 11, 2014 20:13
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I'm in my mid-twenties, and am at least passably familiar with retirement planning. That said, for the entirety of my working career I've lazily let the financial advisor my parents use also manage my own investment accounts (a brokerage account, a 401(k), a Roth IRA, and a trad. IRA), without giving much (any) consideration as to whether I could manage my money just as effectively myself. A related matter, which I also have failed to consider, is whether the advisor is worth the cost—the annual management fee is equivalent 0.75% of assets under management. (It appears that my 401(k) is excluded from the management fee, even though my advisor manages that, too) The problem is that I'm not entirely sure how to assess my advisor's performance. Should I just compare the returns I've gotten under this advisor to certain benchmarks or indexes? That seems simplest, but I'm not sure what the appropriate benchmarks are. And, in any case, since we're only talking about a few years' worth of returns to compare against, would that even be enough data to provide a judicious assessment of my advisor's performance? I do realize that the default wisdom of this thread seems to be that one should manage one's money oneself, but if I could conclude that the advisor really is doing a good job (as good or better a job as I could do on my own), then it might be worth it to me to just let the professional handle this.
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Apr 12, 2014 16:14
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Actie posted:I'm in my mid-twenties, and am at least passably familiar with retirement planning. That said, for the entirety of my working career I've lazily let the financial advisor my parents use also manage my own investment accounts (a brokerage account, a 401(k), a Roth IRA, and a trad. IRA), without giving much (any) consideration as to whether I could manage my money just as effectively myself. A related matter, which I also have failed to consider, is whether the advisor is worth the cost—the annual management fee is equivalent 0.75% of assets under management. (It appears that my 401(k) is excluded from the management fee, even though my advisor manages that, too) If you are paying him to "beat the market," he can't do that over long periods of time. Assuming he is not trying to "beat the market" then all he is doing is holding your money and skimming 0.75% off the top each year in addition to the fees in whatever he has your money invested, which will amount to a significant amount of money when you retire in 40 years (or sooner!). In Vanguard Target Retirement accounts you could be spending an expense ratio of about 0.2%.
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Apr 12, 2014 16:49
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MickeyFinn posted:If you are paying him to "beat the market," he can't do that over long periods of time. Assuming he is not trying to "beat the market" then all he is doing is holding your money and skimming 0.75% off the top each year in addition to the fees in whatever he has your money invested, which will amount to a significant amount of money when you retire in 40 years (or sooner!). In Vanguard Target Retirement accounts you could be spending an expense ratio of about 0.2%. John Bogle who founded the vanguard group pretty much found that a majority of specialized mutual funds didn't beat the S&P Index companies in the long-term. So finance advisors charging big management fees are pretty much a waste of money when you look at long term costs of using them, not to mention they can't magically produce better returns than a passive index fund.
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Apr 12, 2014 18:24
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Your manager should at least be able to tell you what your portfolio composition is, and why, and how often he changes it. As for being worth the cost, it could go either way. Does he charge 0.75% on top of the costs of the constituent investments? If so, what are those costs - expense ratio, sales charges, turnover. You are probably getting ripped off. Also the "beat the market" thing - if he is trying to do that he is not only wasting your money but quite possibly making things worse during market downturns. On the other hand, 0.75% total cost for a straightforward portfolio of index funds managed and rebalanced annually by this guy is almost a reasonable price for the convenience. (Though you can get it cheaper from Wealthfront or Betterment.) Historical returns are not helpful for evaluating advisors or funds. You have to look at a whole lot of data over many years to get any sense of what's happening, and even then there is likely to be room for debate. 5 or 10 years of your portfolio's return vs. a benchmark tells you very little.
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Apr 13, 2014 04:06
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I have a large amount of money in Vanguard diversified across a handful of index funds (primarily total stock market, total international stock market, and some extras to change my exposure - small and mid cap funds plus an REIT). How often should I rebalance?
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Apr 13, 2014 17:18
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I use the "when I feel like it" method, but there are also the "once a year" method and the "greater than 5% from desired" methods that can be expected to work well.
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Apr 13, 2014 17:56
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slap me silly posted:Your manager should at least be able to tell you what your portfolio composition is, and why, and how often he changes it. I get quarterly reports from my advisor as to the portfolio composition. It was actually the most recent such report that prompted me to think about whether this advisor is worth it, because I looked at my 2012 and 2013 returns and saw they were comparable to (or even a bit worse than) the market's returns. Each month I send in some money to my brokerage account, in addition to the chunk of my paycheck that goes straight into my 401(k). And each month my advisor rebalances the portfolio, using the money I've sent in to bolster some asset class in which I am underweight with regard to the target allocation. I don't know why my portfolio is composed the way it is. To be sure, this is entirely my own fault, because I've never bothered to ask (though now I certainly will). In case anyone's curious, the target allocation of my portfolio is ~10% capital preservation (~3% in a U.S. taxable Vanguard bond index; ~7% in a U.S. tax-exempt Vanguard index) and ~90% capital appreciation (~38% in U.S. large-cap equities, ~16% U.S. mid- and small-cap equities; ~36% international large-cap equities). All these equities are mutual funds, including one Vanguard index fund. The actual allocation of my portfolio is very close to the target allocation, in large part because of the monthly rebalancing. quote:As for being worth the cost, it could go either way. Does he charge 0.75% on top of the costs of the constituent investments? If so, what are those costs - expense ratio, sales charges, turnover. You are probably getting ripped off. Also the "beat the market" thing - if he is trying to do that he is not only wasting your money but quite possibly making things worse during market downturns. On the other hand, 0.75% total cost for a straightforward portfolio of index funds managed and rebalanced annually by this guy is almost a reasonable price for the convenience. (Though you can get it cheaper from Wealthfront or Betterment.) Yes, I believe the 0.75% is on top of the costs of the constituent investments. I think most of them have very low (Vanguard-level) expense ratios. That said, I noticed that about 14% of my portfolio is in Harbor International (HAINX), whose gross expense ratio is 0.76%, which seems ridiculously high. I'm not sure if that's just the price one pays to have a stake in an international fund, or what the deal is. quote:Historical returns are not helpful for evaluating advisors or funds. You have to look at a whole lot of data over many years to get any sense of what's happening, and even then there is likely to be room for debate. 5 or 10 years of your portfolio's return vs. a benchmark tells you very little. If historical returns are not helpful for evaluating an advisor, then how *do* I go about making such an evaluation?
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Apr 13, 2014 18:06
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If he is promising to beat the market, you could check up on that by comparing the return of your portfolio after expenses vs. a simple portfolio of index funds with the same risk and see if you're getting a better return over long periods of time. It's not always obvious what the cheaper risk-comparable portfolio would be, and you need to look for longer than 5 or 10 years because what if he just got lucky for a while? Pretty difficult problem. However if he's just maintaining a target allocation for you, you should evaluate him by whether he charges a reasonable price for something you can't or don't want to do yourself. Rebalancing across multiple accounts (401k and IRAs) is something that I don't believe the automated tools like Weathfront will do for you, it's clearly a service worth paying for if you don't want to deal with it yourself. Sounds like the cost to you in this case is kind of expensive but not completely egregious? Of course his advice may also be worth money if he gives you any, but it doesn't sound like he does much. For what it's worth, I handle my own by myself, I get the calculator out and rebalance or tweak contribution percentages once or twice a year, and overall I'm paying 0.2-0.3% in fees vs your 1-1.5% while probably getting equally good results. However I do not break down the assets classes as finely as you described so mine is a little less complicated to rebalance. You can do the math on your total balance to see if the difference in $$$ per year is worth it to you.
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Apr 13, 2014 18:28
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slap me silly posted:If he is promising to beat the market, you could check up on that by comparing the return of your portfolio after expenses vs. a simple portfolio of index funds with the same risk and see if you're getting a better return over long periods of time. It's not always obvious what the cheaper risk-comparable portfolio would be, and you need to look for longer than 5 or 10 years because what if he just got lucky for a while? Pretty difficult problem. Thanks. I think you're right—it's just a matter of my deciding whether the management fee is worth the convenience of not having to think about this stuff. (And to be clear, the advisor isn't trying to beat the market; she's just maintaining the target allocation, as you say.) Also I do get advice from time to time, which can be useful.
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Apr 13, 2014 18:46
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Actie posted:Thanks. I think you're right—it's just a matter of my deciding whether the management fee is worth the convenience of not having to think about this stuff. (And to be clear, the advisor isn't trying to beat the market; she's just maintaining the target allocation, as you say.) Also I do get advice from time to time, which can be useful. For what it's worth, I just reallocated my accounts to match my target allocation using my final tax year 2013 contribution, and it took me all of 15 minutes. Once you decide on your allocation, it's really easy to maintain. Edit: And this was the first time I've really even thought about my accounts since I allocated last September. Basically, it's not nearly as big a time commitment as most people think, and some basic reading will set you up to overcome the initial fears of whether you're doing it right. Cranbe fucked around with this message at 18:57 on Apr 13, 2014 |
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Apr 13, 2014 18:52
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Cranbe posted:Edit: And this was the first time I've really even thought about my accounts since I allocated last September. Basically, it's not nearly as big a time commitment as most people think, and some basic reading will set you up to overcome the initial fears of whether you're doing it right. Yeah, if you can make an Excel spreadsheet and do some basic (like, seventh-grade) math, you can rebalance across multiple accounts. It's not rocket science.
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Apr 13, 2014 19:40
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SoUr posted:Is there a limit to how much I can put into an SIPP? From what I've read it sounds like you can put in up to 50,000 GBP? I've read in other forums however that there is some contribution limit tied to your total income? Current annual allowance of £40k, and a lifetime allowance of £1.25m. Both of these could well change, though if you're only doing this for a few years, you'll probably be OK. As far as implications for a US citizen go, I have no idea. The first thing I found when googling was a white paper on the topic, here: http://talk.uk-yankee.com/index.php?topic=74616.0
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Apr 14, 2014 14:08
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I was gifted $10k of BAC in a taxable account when I turned 18. I thought it had been sold to pay undergrad tuition but it turns out it is still in a taxable account at WF with a useless financial advisor. It's taken a 60% haircut since being put in that account and when I realized it was never sold I was going to immediately take the capital loss and use the money to pay student loans. It turns out the cost basis for these shares is from 1976 (not the $10k I expected it would be) and therefore pretty much the entire balance is capital gains. I think I should suck up the tax hit to get away from the advisor and the volatility of holding a single stock, but looking for outside input. My retirement funds are in vanguard TR 2055 and this amount is less than 10% of my retirement account balance. antiga fucked around with this message at 18:39 on Apr 14, 2014 |
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Apr 14, 2014 16:14
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You're going to do it eventually, so why not now? Get it done and off your mind. Also double check that basis.
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Apr 14, 2014 17:02
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slap me silly posted:You're going to do it eventually, so why not now? Get it done and off your mind. I guess the shares were purchased in '76 and gifted twice without being sold. I was bug-eyed when I saw the cost basis share price. Is the advisor going to know something that the web site doesn't show? E: changed first post to get rid of inherit. That was a bad word choice. antiga fucked around with this message at 18:40 on Apr 14, 2014 |
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Apr 14, 2014 17:18
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You said "inherited" and I had the impression cost basis was reset at that time. But 1, I don't really know how it works and 2, your situation maybe is something different anyway.
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Apr 14, 2014 18:06
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Is Vanguard still the preferred place to open a Roth IRA? My spouse and I made no retirement investments other than maxing our employers' matches for 401(k) and TSP and now find ourselves with too much cash in the bank doing basically nothing. Might as well dump it into a couple of Roth IRAs and then move it into one of the retirement targeted plans I suppose.
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Apr 14, 2014 20:19
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Loucks posted:Is Vanguard still the preferred place to open a Roth IRA? My spouse and I made no retirement investments other than maxing our employers' matches for 401(k) and TSP and now find ourselves with too much cash in the bank doing basically nothing. Might as well dump it into a couple of Roth IRAs and then move it into one of the retirement targeted plans I suppose. Yes. Also, if you want to make a contribution for the 2013 tax year (leaving room in the 2014 tax year for more contributions) make sure you get everything squared away by tomorrow (tax day).
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Apr 14, 2014 20:22
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Mr.Radar posted:Yes. Also, if you want to make a contribution for the 2013 tax year (leaving room in the 2014 tax year for more contributions) make sure you get everything squared away by tomorrow (tax day). Excellent, thanks. I understand the deadline is tomorrow at 11:59pm so there should be no issue.
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Apr 14, 2014 20:48
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Loucks posted:Excellent, thanks. I understand the deadline is tomorrow at 11:59pm so there should be no issue. Yeah the other fine catch with IRA contributions is you have until tax day to make the contribution to cover the most recent tax year.
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Apr 15, 2014 02:34
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I have 45k in my retirement account right now. I am 31 looking long-term. Would it be a bad idea to dump 100% into VFIFX (Vanguard Target Retirement 2050) or do I need diversification beyond that?
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Apr 15, 2014 20:42
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libertao posted:I have 45k in my retirement account right now. I am 31 looking long-term. Would it be a bad idea to dump 100% into VFIFX (Vanguard Target Retirement 2050) or do I need diversification beyond that? That is a highly diversified fund, and it would be a great choice. E: incorrect about admiral shares but still a good choice! antiga fucked around with this message at 21:14 on Apr 15, 2014 |
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Apr 15, 2014 20:51
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