|
SamDabbers posted:It may help to refer to it as a Rollover IRA when talking with HR. That's a trad IRA account established when you roll out of a previous employer's 401k and it only has that rollover balance in it with no non-401k contributions. Rollover IRAs can generally be rolled back into a new employer's 401k if the plan allows it, while an individual trad IRA account would not be allowed from what I read. Crap. Its got a single year's worth of normal contributions in it. Back when the LIN merger happened I was pushed out of the eligible income range for rIRA contributions for that one year. So I did my usual contribution to a traditional IRA that year. And then the pre tax portion of the old Roth 401k got rolled into that earlier this year. Probably easier to just spend a couple of years Roth converting it and be done with it. Antillie fucked around with this message at 18:52 on Aug 30, 2022 |
#
?
Aug 30, 2022 18:44
|
|
|
|
| # ? May 23, 2024 06:52 |
|
|
Worth asking the question though, right?
|
|
#
?
Aug 30, 2022 18:46
|
|
|
Some plans allow roll-ins from non-rollover IRAs!
|
|
#
?
Aug 30, 2022 18:48
|
|
|
raminasi posted:Some plans allow roll-ins from non-rollover IRAs! SamDabbers posted:Worth asking the question though, right? Indeed. I will ask. Antillie fucked around with this message at 19:04 on Aug 30, 2022 |
|
#
?
Aug 30, 2022 18:51
|
|
|
Leperflesh posted:I-bonds are a maximum buy of $10k per person per year, so don't even bother with that for such a large amount of money, it's irrelevant. Thanks! I already have contacted my tax preparer about this. Thanks also for the annualized rate reminder, but it’s still somewhat meaningful - 1.5 for 6 months is still better than 0.75% for 6 months, which is what we’d get with a typical MM fund right now I think. We ended up doing I-bonds with my first house profit already, which were very modest (and effectively zero capital gains due to the amount we spent fixing up the home prior to listing).
|
|
#
?
Aug 30, 2022 19:02
|
|
|
Someone mentioned "goon approved Fidelity ETFs". What would these be? At the moment I am using ETFs from Vanguard, Schwab, and iShares. Always looking to expand my ETF vocabulary even if I don't end up actually investing in them.
|
|
#
?
Aug 30, 2022 19:12
|
|
|
The ETF versions of Fidelity's index funds are comparable to Vanguard's, and depending on your brokerage or 401(k) options if you only have access to one or the other company the ER difference between them is negligible.
|
|
#
?
Aug 30, 2022 19:18
|
|
|
I have a cash balance pension from my old job. Can I roll this into a Roth IRA, or does it need to be a trad IRA first? Is there a tax difference either way? I may use it for a down payment on a house, but if not I'd like to invest it.
|
|
#
?
Aug 30, 2022 19:31
|
|
|
1031 exchanges are getting outside the purview of this thread, but I'm pretty sure you need to have escrow set up for one before the current property is sold, and you can't use your primary residence in an exchange, only investment properties.
|
|
#
?
Aug 30, 2022 19:45
|
|
|
Leperflesh posted:You might want to consider not holding a target date retirement fund in your brokerage account: that fund will sell stocks to buy bonds every year as it gradually increases its bond allocation, and you will pay taxes on those asset shifts. Target date retirement funds are built for 401ks and IRAs. Does this advice still apply for a rollover account? Does Vanguard treat a roll-over like a Roth IRA account? Or is that a regular brokerage account? Roth IRA Brokerage Account Rollover IRA Brokerage Account
|
|
#
?
Aug 30, 2022 21:53
|
|
|
Tricky Ed posted:1031 exchanges are getting outside the purview of this thread, but I'm pretty sure you need to have escrow set up for one before the current property is sold, and you can't use your primary residence in an exchange, only investment properties. Didn't know about the escrow bit; made a guess based on the statement that they'd sold two properties that this could have been an investment property. obi_ant posted:Does this advice still apply for a rollover account? Does Vanguard treat a roll-over like a Roth IRA account? Or is that a regular brokerage account? No, generally a "brokerage account" is a way of referring to an account that is not tax sheltered or advantaged in any way. Think of it as what people over in the stock picking thread use. Inside an IRA (ROTH or traditional) you do not pay taxes on transactions that take place there, so target retirement funds are ideal for those accounts. A rollover IRA may have come from a 401k, maybe a pension plan or something, I suppose there could be weird cases (did you inherit this)? but generally for 99.9% of people we're talking about those tax-advantaged IRAs where you can freely buy & sell inside the account with no tax consequences.
|
|
#
?
Aug 30, 2022 21:59
|
|
|
Leperflesh posted:No, generally a "brokerage account" is a way of referring to an account that is not tax sheltered or advantaged in any way. "taxable brokerage" is common and extra clear, because technically many tax-advantaged accounts are brokerage accounts, i.e. you can trade stocks and ETFs in them, not just mutual funds
|
|
#
?
Aug 30, 2022 22:06
|
|
|
Yeah that's totally fair. I wish we had a clear signifier that wasn't so wordy (and of course, IRAs are still "taxable", they're tax-advantaged but you pay taxes in at least one direction of in or out...) but here we are. Maybe "fully-taxed brokerage account" is the most clear?
|
|
#
?
Aug 30, 2022 22:12
|
|
|
why don't we just call that a brokerage account and all of the other stuff a tax-advantaged [brokerage if applicable] account seems pretty straightforward to me?
|
|
#
?
Aug 30, 2022 22:15
|
|
|
Antillie posted:Someone mentioned "goon approved Fidelity ETFs". What would these be? At the moment I am using ETFs from Vanguard, Schwab, and iShares. Always looking to expand my ETF vocabulary even if I don't end up actually investing in them. VTI, SCHB, ITOT, and uhh...FSKAX? Are the total US market ones. Then the S&P 500 equivalents which are uhh...VOO, SPY? And then Int'l equivalents. Bonds are a lot less clear, but I doubt folks would balk if someone said TLT.
|
|
#
?
Aug 30, 2022 22:54
|
|
|
CubicalSucrose posted:VTI, SCHB, ITOT, and uhh...FSKAX? Are the total US market ones. Then the S&P 500 equivalents which are uhh...VOO, SPY? And then Int'l equivalents. Bonds are a lot less clear, but I doubt folks would balk if someone said TLT. he was asking about etfs issued by fidelity, which offers neither a US total market nor a US s&p 500 index etf you can see a list of fidelity ETFs at these spots: https://www.fidelity.com/etfs/different-types-of-etfs https://etfdb.com/screener/#page=1&issuer=fidelity
|
|
#
?
Aug 30, 2022 23:07
|
|
|
Ah, right. Fidelity partners with iShares on their index fund ETFs: https://www.fidelity.com/etfs/ishares IVV is the S&P 500 fund ITOT is the total market fund AGG is the total bond market fund IVV's ER is 0.03% so it's the same as VOO's. Leperflesh fucked around with this message at 23:19 on Aug 30, 2022 |
|
#
?
Aug 30, 2022 23:17
|
|
|
ishares is by blackrock and you can buy those commission-free at most places, not just fidelity. they must have some sweet deal to get fidelity promo'ing them. full list of ishares etfs here: https://www.ishares.com/us/products...taView=keyFacts for ishares bonds you probably want to look at something like IUSB instead of AGG. AGG is more for traders. but it's good too (edit: iusb also has some high-yield) pmchem fucked around with this message at 23:22 on Aug 30, 2022 |
|
#
?
Aug 30, 2022 23:20
|
|
|
Good to know, I was just grabbing off that fidelity page.
|
|
#
?
Aug 30, 2022 23:22
|
|
|
I'm a little off-topic in just wanting to park some money for about a year beyond what deposit insurance will readily cover without opening multiple bank accounts. We sold one house recently and will be moving across country within the next two years. To that end, I wondered if I could get savings bonds and get something from them if I only hold on to them for 6-18 months. How liquid are they? If there's a better method to this that is more short-term oriented, I can try to find a better thread for it, but I figured savings bonds were normally a long-term thing to discuss.
|
|
#
?
Aug 31, 2022 07:07
|
|
|
The only US Savings Bonds presently available are Series EE which you need to hold for 20 years to see any benefit or Series I (I Bonds) which have a $10k per person limit per year, which I assume is too low, given that your concern is going over the deposit insurance limits. Or am I misunderstanding what kind of bond you are talking about? Edit: also, from the “we” I assume a spouse is involved. As a pair, you can get deposit insurance up to $1,000,000 at a single bank. If you each have a single account with $250,000 and then share a joint account with $500,000 in it, all those dollars are FDIC insured. https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/ doingitwrong fucked around with this message at 08:21 on Aug 31, 2022 |
|
#
?
Aug 31, 2022 08:02
|
|
|
Rocko Bonaparte posted:I'm a little off-topic in just wanting to park some money for about a year beyond what deposit insurance will readily cover without opening multiple bank accounts. We sold one house recently and will be moving across country within the next two years. To that end, I wondered if I could get savings bonds and get something from them if I only hold on to them for 6-18 months. How liquid are they? If there's a better method to this that is more short-term oriented, I can try to find a better thread for it, but I figured savings bonds were normally a long-term thing to discuss. Opening more than one bank account is trivially easy compared to buying and holding bonds directly. Why do you not want to do that?
|
|
#
?
Aug 31, 2022 11:58
|
|
|
Salami Surgeon posted:I have a cash balance pension from my old job. Can I roll this into a Roth IRA, or does it need to be a trad IRA first? Is there a tax difference either way? I'm not sure that you are able to roll a pension lump sum into a rIRA or tIRA. I know that you can roll it into a t401k if your custodian allows. If you were able to roll it into an IRA and you wanted to do a Roth IRA, you would need to pay taxes on the entire sum as income.
|
|
#
?
Aug 31, 2022 12:39
|
|
|
If SIPC is good enough for you, you can shove cash in a brokerage account if you already have one (or I guess if you're strangely willing to open a brokerage account but unwilling to open a bank account).
|
|
#
?
Aug 31, 2022 16:06
|
|
|
pmchem posted:ishares is by blackrock and you can buy those commission-free at most places, not just fidelity. they must have some sweet deal to get fidelity promo'ing them. I know that when you buy shares of Blackrock ETFs through Fidelity they’re not marginable for 30 days and nobody on the phone could explain why to me beyond “it’s part of a special relationship we have with the ETF issuer.”
|
|
#
?
Aug 31, 2022 16:15
|
|
|
Rocko Bonaparte posted:I'm a little off-topic in just wanting to park some money for about a year beyond what deposit insurance will readily cover without opening multiple bank accounts. We sold one house recently and will be moving across country within the next two years. To that end, I wondered if I could get savings bonds and get something from them if I only hold on to them for 6-18 months. How liquid are they? If there's a better method to this that is more short-term oriented, I can try to find a better thread for it, but I figured savings bonds were normally a long-term thing to discuss. You could also look for an insured cash sweep account at a bank. Basically you see one account but the bank splits up your cash across other FDIC insured institutions up to the limit at each. It’s fully liquid so if you need it all back one afternoon you’re good to go. You could also buy like one month (or longer but that’s most liquid) CDs up to $250k and roll them via vanguard or another brokerage’s brokered CD program,
|
|
#
?
Aug 31, 2022 19:54
|
|
|
Rocko Bonaparte posted:I'm a little off-topic in just wanting to park some money for about a year beyond what deposit insurance will readily cover without opening multiple bank accounts. We sold one house recently and will be moving across country within the next two years. To that end, I wondered if I could get savings bonds and get something from them if I only hold on to them for 6-18 months. How liquid are they? If there's a better method to this that is more short-term oriented, I can try to find a better thread for it, but I figured savings bonds were normally a long-term thing to discuss. Let's just check something: do you mean, literally, savings bonds only, or are you using "savings" colloquially and you'd be fine with bonds, including treasury bills, or even a bond fund?
|
|
#
?
Aug 31, 2022 20:00
|
|
|
Leperflesh posted:Extremely useful spreadsheet I'm going to take some time and do exactly what you have here. Was there a function that let you break out VFORX's current holdings or was it just a matter of looking up what it's holding and put it in manually? I wish Personal Capital let you export, because I've got all this data tracked within it and it's just an export + a few highlights to show what's 401k, what's IRA, etc. in order to figure out what the heck I should do way more holistically. A knee jerk "sell the funds, buy the ETF equivalents" just sounds like it's bound to go very wrong. At least this is a good problem to have, and it's probably not much in the end. If I can't buy a Testarossa upon retiring early, it won't end us.
|
|
#
?
Aug 31, 2022 20:07
|
|
|
I looked up the prospectus online and put in the percentages manually. If you like, PM me your email and I'll be happy to email you this actual sheet.
|
|
#
?
Aug 31, 2022 21:23
|
|
|
doingitwrong posted:Edit: also, from the “we” I assume a spouse is involved. As a pair, you can get deposit insurance up to $1,000,000 at a single bank. If you each have a single account with $250,000 and then share a joint account with $500,000 in it, all those dollars are FDIC insured. https://www.fdic.gov/resources/deposit-insurance/financial-products-insured/ Yeap, spouse is involved. Hmm our credit union told us we only can insure up to $500,000 with them total. Could that be a technicality of using a credit union over a bank? Leperflesh posted:Let's just check something: do you mean, literally, savings bonds only, or are you using "savings" colloquially and you'd be fine with bonds, including treasury bills, or even a bond fund? Yeah I guess I mean anything backed by the US government that is somewhat liquid. Like, I could cash it out within three weeks of wanting to and not have less money than I started; having more would be a low-priority bonus.
|
|
#
?
Aug 31, 2022 22:42
|
|
|
Rocko Bonaparte posted:Yeah I guess I mean anything backed by the US government that is somewhat liquid. Like, I could cash it out within three weeks of wanting to and not have less money than I started; having more would be a low-priority bonus. Disclaimer: I have not bought treasuries directly myself. Please verify all of the following: I believe $500k of 6-month treasuries would get you around +$7500 (e.g. half of the listed ~3% yield, which is an annualized rate) after six months. https://www.treasurydirect.gov/indiv/research/indepth/tbonds/res_tbond_buy.htm Holding actual bonds is not super liquid? You'd receive the payouts but if you needed to divest of them before maturity I'm not sure what the process is. There is an online market for bonds but what someone will pay for a bond depends on then-current yields, not the yield you "locked in" when you bought the bond, so if you're thinking you might sell before maturity I would not do this anyway compared to the other option: use the incredible convenience of a bond fund or ETF purchased through a brokerage. These are funds, which go up and down with the market, constantly adding and rolling over bonds within them, so there is not that direct "buy a bond and know exactly what it will pay out and when" security, but it's probably a lot more convenient and maybe more liquid (you can sell your ETF on the open market on a weekday and get the settled funds within 2 days). It looks to me like you can get close (~2.5 APR max?) via six-month CDs at the best rate I found on https://www.bankrate.com/banking/cds/cd-rates/. CDs are FDIC insured. You can just deposit in a high-yield savings account. https://www.bankrate.com/banking/savings/best-high-yield-interests-savings-accounts/ says 2.1% with Citizens is the best current rate. So another step down from CDs, but you don't have to buy anything. Of course these interest rates can change over time so they're not locked in.
|
|
#
?
Aug 31, 2022 23:04
|
|
|
Rocko Bonaparte posted:Yeap, spouse is involved. "cash it out within three weeks of wanting to and not have less money than I started" is a surprisingly difficult requirement for investing. you can manually buy and reinvest in 4-week treasury bills through your broker or treasury direct and that'd pretty much do it, but, effort. leper already posted about CD's and HYSAs, so I won't retread that. in ETF-land (similar to mutual fund land), you can compare various very popular, very liquid ultra-short-term bond ETFs to a money market fund (money market funds don't go down; if they go down, the federal reserve and US Treasury step in). you get a plot like this: https://stockcharts.com/freecharts/perf.php?VMFXX,JPST,ICSH,BIL,SGOV&n=500&O=011000 red line is the money market fund. you could buy an ETF like SGOV and it is extraordinarily unlikely to go down, but, the returns won't be THAT much better than a money market fund (or HYSA). both vmfxx and sgov are backed by very similar (as far as retail investors care) instruments: treasury bills, federal reserve reverse repo deposits, etc. https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx#portfolio-composition https://www.ishares.com/us/products/314116/ishares-0-3-month-treasury-bond-etf
|
|
#
?
Sep 1, 2022 00:29
|
|
|
Fidelity has an automatic laddering service for bonds and CDs, which might get you closer to where you want to be, but I've never used it and can't speak to how ergonomic or useful it is.
|
|
#
?
Sep 1, 2022 00:45
|
|
|
Edit: Nothing to see here, keep those indexes thriving y'all
Space Fish fucked around with this message at 13:36 on Sep 1, 2022 |
|
#
?
Sep 1, 2022 01:58
|
|
|
what's your question exactly?
|
|
#
?
Sep 1, 2022 02:00
|
|
|
It looks like I can actually just buy treasuries through Vanguard, had anyone done that previously? A guaranteed 1.65% return by March seems pretty good right now, although I guess there’s some risk if rates keep rising aggressively and I miss that upside. The return for VMFXX seems to be more like 2.2%. It’s a relatively small gap but
|
|
#
?
Sep 1, 2022 16:49
|
|
|
Ally savings is 1.85%
|
|
#
?
Sep 1, 2022 18:44
|
|
|
Velius posted:It looks like I can actually just buy treasuries through Vanguard, had anyone done that previously? A guaranteed 1.65% return by March seems pretty good right now, although I guess there’s some risk if rates keep rising aggressively and I miss that upside. The return for VMFXX seems to be more like 2.2%. It’s a relatively small gap but
|
|
#
?
Sep 1, 2022 19:02
|
|
|
I went to look into my roll-over Roth from a few years ago and noticed a button I do not recall seeing. The Convert to Roth IRA button, is that to merge with my current Roth IRA that I have already? Would I need to pay taxes?
|
|
#
?
Sep 1, 2022 19:44
|
|
|
|
| # ? May 23, 2024 06:52 |
|
|
Mu Zeta posted:Ally savings is 1.85% 
|
|
#
?
Sep 1, 2022 21:34
|
|
