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80k posted:For taxable accounts, stick with index funds. For one, they are nearly always more tax efficient… but also you want a fund that you intend to stick with for decades. You do not want to be stuck regretting the purchase 15 years from now and be sitting on a lot of capital gains and be afraid to sell it. If you lose money on the fund, look into tax loss harvesting, which is very easy to do with index funds, as you can almost always find a similar index fund that tracks a different index. I'm going to be in a similar situation (no taxable income that I can put into an IRA) for the foreseeable future so I guess this applies to me as well. Thanks. Is the easiest thing to do to just open up taxable account with Vanguard and buy into say the VFIFX fund?
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Jan 9, 2013 21:53
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So you mean something like VFINX or VTSMX would be more up my alley?
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Jan 9, 2013 22:29
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dudemanbudguy posted:I see you mention that you are going for a PhD. I'm considering opening a Roth IRA. (two jobs; self employed contractor and corporate employee) But next fall I will be attending graduate school for the foreseeable future. If I'm going to spend the next 5-6 years making money from fellowships, stipends, and TAing, is it a bad idea to open a Roth? Can I not put this money into an IRA? As far as I am aware, you can only put money into an IRA if you have taxable income, which I guess you won't while you're a graduate student? So you can contribute money into an IRA with the income you have now from your two jobs, but once you quit those you'd only be able to contribute to taxable accounts I guess.
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Jan 22, 2013 20:48
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Where do HSAs fit into the big picture of IRAs and 401(k)s? I think it's a guarantee that you're going to need to pay for medical/healthcare at some point in your life so would it make sense to prioritize 401(k) to employer match > HSA > Roth IRA > 401(k) to max? HSAs seem too good to be true if I'm reading it right (HSA contributions get deducted before payroll taxes and can be spent tax free). Assuming you're under a qualifying health plan of course.
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Mar 11, 2014 22:54
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ntan1 posted:Yup, I max my HSA out as well. That last sentence is key, right? Is there some kind of list/blog out there that goes over what I could use my HSA debit card to pay for? I just did a quick search and saw this on the Wells Fargo site "Contact lenses (including saline solution and cleaner)". That stuff in the parenthesis is pretty drat awesome if true. I would just check out my contact lens solution separately at the store and pay with the HSA card?
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Mar 11, 2014 23:51
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The Agent posted:We talk about money (a lot), which is why I learned what I did this weekend and posted this. I actually talk about money with her enough that I know I get on her nerves from how much I talk about it. Well for me (and hopefully I can find someone who feels the same way) marriage is just a title to simplify taxes and other bureaucratic bullshit and no more permanet than a live-in significant other, so pre-nups are totally fine with me.
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Mar 18, 2014 12:57
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How do I go about picking which investment options to take/distribute to on my new work 401k plan
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Aug 28, 2023 21:41
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CubicalSucrose posted:Info we'd need: Here are all the ones available to me:
There's also the target growth funds (20XX) that don't have tickers, all with a expense and gross expense ratio of 0.38. I don't really know what to look for. 10 year rate of returns?
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Aug 29, 2023 00:13
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The Instagram targeted ad algorithm has started showing me ads to invest in “rare whiskey casks” to fund my retirement. I think I know what to do.
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Aug 29, 2023 04:37
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So HSA, I’ve read that some of you are actually putting money into one and treating it like any other retirement account. I have a HDHP with I think a $1500 deductible so I’ve set my HSA contribution to put in that same amount. I do plan on having to pay the entire deductible over a year in healthcare and pharmacy costs so it made sense to me. Is this still a sensible thing to do?
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Aug 30, 2023 21:44
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Cugel the Clever posted:The HSA space is triple tax-advantaged, so might as well leave that money invested for the long-term, paying out of pocket for the medical expenses where possible. What do you mean by triple tax advantaged? I know that putting money into it now lowers my taxable income, so that’s 1 I guess? Where’s the other 2 coming from? I’ve never thought of an HSA as anything other than for medical bills.
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Aug 30, 2023 21:51
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CubicalSucrose posted:If you expect to have to pay that out over the year then you may have chosen the wrong healthcare plan. I didn’t really have a choice. I take expensive meds so I needed the plan with the lowest deductible, which was this one.
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Aug 30, 2023 21:53
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CubicalSucrose posted:I meant "maybe a non-HDHP would've been better" but yeah if that wasn't an option (or would've been worse due to whatever your circumstances are), sucks. Yeah I understood what you meant. Unfortunately my employer does not offer a non-HDHP.
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Aug 30, 2023 21:57
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OK so what I'm seeing is that the standard rule of thumb of "401(k) up to employer match, then max your IRA, then dump the rest into the 401(k)" should actually be "401(k) to employer match, then max HSA, then max IRA, then dump the rest into 401(k)" if I have the option to contribute to an HSA? And then just pay my deductibles/pharma bills with cash? e: jokes posted:It doesn't even have a penalty for using it immediately. It seriously never occurred to me to treat an HSA like anything other than a fund to pay for healthcare in the moment. I mean my HSA provider even sends me a "debit" card to use to pay the bills with. Boris Galerkin fucked around with this message at 22:17 on Aug 30, 2023 |
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Aug 30, 2023 22:13
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Quick google suggests 60% of Americans live paycheck to paycheck in 2023. If I lived paycheck to paycheck and drowning in debt why would I care about saving for 20-40 years later when I literally need the money to survive today? Can’t really fault those 60% (“most people”) for not knowing about IRAs.
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Aug 31, 2023 20:12
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I thought it was pretty well and widely understood by everyone that living paycheck to paycheck means “if I don’t get paid I can’t pay the bills without going into debt”. People with an emergency fund can still pay the bills, ergo they aren’t living paycheck to paycheck. People contributing to a retirement account that they can pull from (even if they don’t want to) can still pay the bills, ergo they aren’t living paycheck to paycheck. It’s pretty gross that some of you are going “hurr durr technically I’m paycheck to paycheck because I budget so that I have $0 unaccounted for (after Ive contributed to x y and z retirement funds)” when you know drat well what paycheck to paycheck means. Someone taking home 100k gross can easily be paycheck to paycheck if they are living like they take home 100k net and not actually saving anything and spending more than they take home. Sure they’re in a better situation than someone barely earning 30k by virtue of spending 70k more to have a more comfortable life but if they got fired then they’d still have no savings and have to put everything on credit cards. Boris Galerkin fucked around with this message at 10:54 on Sep 1, 2023 |
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Sep 1, 2023 10:49
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Leperflesh posted:S&P500 performance is so close to a US total stock index that there's barely a reason to prefer the latter: Thanks by the way. I ended up just doing something like this (75/15/10) after reading all the boggle head wiki pages and throwing my hands up in the air with trying to approximate the S&P500 index to the total market fund. Boris Galerkin fucked around with this message at 16:22 on Sep 3, 2023 |
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Sep 3, 2023 13:58
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Crosby B. Alfred posted:Is there any particular reason as to why in the last few years real estate has become such insanely influencer-driven? You have all these bizarre personalities all over Instagram and whatever else? I don't know what I clicked on but for a while my social media feed was full of high-end cars with super aggressive media personalities like Grant Cardone, Tai Lopez, Alex Hormoz, etc. how these people have amassed such a large following is completely beyond me but whatever. Might be some kind of selection bias at play too because I’ve never used tiktok and the only poo poo I follow on Instagram are actual friends and tattoo artists. So I have no idea who any of those people you named are and the first time I heard of the word “fintok” was the other day from this thread. If you follow “fintok” or are interested in adjacent in adjacent areas then it makes sense that you get hyper targeted by those influencers and make it seem like there’s a huge uptake while the rest of the world has no idea who they are.
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Sep 3, 2023 16:31
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Excel/Sheets/Numbers works like dogshit on iOS anyway. That’s just not an app that was designed to work with anything other than a keyboard and mouse.
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Sep 5, 2023 14:04
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Based on my previous question about choosing my 401k funds, it seems like the best option available for me for my HSA is VFIAX. The Vanguard page for that fund says the minimum investment is $3000. Does this apply to me or is that the price minimum for “retail” investors? Just wondering cause IIRC the maximum HSA contribution for 2023 is $3800 and my HSA will only allow me to invest the excess of $1000. I started the job late this year so I won’t max out the HSA, but even if I could I’d still be short of the $3000 minimum. E: Also, is the only way to get pre-taxed money from my payroll into an HSA is to use the HSA my company offers? Like if I opened an HSA with idk Fidelity for example, I’d only be able to put in post-tax money? Boris Galerkin fucked around with this message at 12:31 on Sep 7, 2023 |
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Sep 7, 2023 12:25
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The only reason I kinda considered opening my own HSA account is purely because the website for the account my employer opened is absolute dogshit. But I mean, I shouldn’t ever have to poke around it much so I guess it’s whatever and not worth the hassle. I’ll revisit this in the future if/when I change jobs and have another employer sponsored HSA account. I’d still like the answer to this though: Boris Galerkin posted:Based on my previous question about choosing my 401k funds, it seems like the best option available for me for my HSA is VFIAX. The Vanguard page for that fund says the minimum investment is $3000. Does this apply to me or is that the price minimum for “retail” investors? Just wondering cause IIRC the maximum HSA contribution for 2023 is $3800 and my HSA will only allow me to invest the excess of $1000. I started the job late this year so I won’t max out the HSA, but even if I could I’d still be short of the $3000 minimum.
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Sep 7, 2023 23:46
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SpelledBackwards posted:Note that your HSA provider may have a minimum cash deposit balance amount (e.g. $1000) you have to maintain for potential medical expenses. In that case, you can only invest what you/your employer deposit above that. Right that’s what I said. My HSA requires $1000 minimum in the “cash” account before it moves the excess into the “investment” account. With $3850 being the max contribution this year even if I were to max it out I wouldn’t meet the $3000 minimum buy-in for that Vanguard share… which was the point of my post. Boris Galerkin fucked around with this message at 12:29 on Sep 8, 2023 |
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Sep 8, 2023 12:24
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Can you even use a debit card to rent a car? I thought they all only take credit.
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Sep 11, 2023 12:04
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adnam posted:I moved out into suburbia a few years ago and noticed that most of my neighbors having their garages stuffed with 'stuff' and then after chatting, found out most of them have additional storage pods they pay for to store more things. +/- boats/RVs/campers they use infrequently at best. American (western?) consumerism is ...something else Man I hate having “stuff” just sitting around doing nothing. I pretty much get rid of anything I don’t need but I know people who have their garages packed full of poo poo and empty boxes (that they don’t flatten for whatever reason) that they can’t park their car inside. I’ll never understand that.
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Sep 11, 2023 21:34
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How often do you guys rebalance your 401k? I’m poking around at my options right now and there’s an automatic rebalance every 4/6/12 months. I guess the default is 6 months. Not sure if I want to change it I guess. E: oops meant to say 3/6/12 months. Boris Galerkin fucked around with this message at 13:45 on Sep 27, 2023 |
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Sep 27, 2023 12:22
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I’d rather invest in those whisky casks that showed up on my Instagram ads than invest in art for the purpose of making money number go up. At least with the whisky casks I could “cash out” in booze and drink it when money number goes down.
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Sep 28, 2023 22:32
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I thought freeports were something made up for Tenet lol
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Sep 29, 2023 03:30
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smackfu posted:Another cute “trick” is to buy an extra week of vacation if your employer allows. Either you use it or you don’t and they pay you an extra week of pay in December. In another job, in another country, a while ago, we had the opposite thing where we were allowed the option to sell our normally allocated paid vacation time if we didn’t think we’d use them. I think the number I had was like 40… days… of which we could sell a maximum number of a week or 2? Idk it was a bit ago. I remember asking the person I reported to if this was a good idea to sell some days. He laughed and said what dude why would you sell your vacation days.
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Dec 6, 2023 23:00
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Leperflesh posted:we now have unlimited vacation days at my job, which means nobody takes as much as they used to when we accumulated three weeks a year isn’t that great how it works?
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Dec 7, 2023 02:01
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If I ever got “unlimited” PTO I would just ask if it’s okay to just work 6 hours a day instead of 8, for the entire year. If it’s not ok then I guess it’s not really unlimited is it?
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Dec 7, 2023 20:32
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Leperflesh posted:Yeah it's not really unlimited because if you just stop doing your job they're going to fire you. You still have to meet your performance goals, if you don't you'll get bad performance reviews and when it's time to lay someone off they'll fire the lowest performer. I’m pretty sure I could get the same amount of work done, if not even more, if I knew I could just show up at 7am and leave 6 hours later. I know I definitely do not do 8 full hours of work in a day. Nobody does. E: wasn’t being entirely serious though. I’m aware of that one trick with unlimited PTO that companies do. I mean it would still be worth asking if unlimited PTO means I can work 30-32 hour weeks as long as I got my poo poo done though of I ever got a job offer I wasn’t too particular excited about. Boris Galerkin fucked around with this message at 23:11 on Dec 7, 2023 |
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Dec 7, 2023 23:00
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FYI as of 2020ish (geez, what world changing event happened I wonder) the Fed no longer limits free withdrawals from HYSAs. Different banks have different policies on this. It looks like Ally has increased withdrawals from 6 to 10 a month, removed the fees incurred going over that, but their fine print says they will close accounts that regularly withdraw too frequently. SoFi on the other hand does not care and encourages you to put 100% of your balance into the HYSA and turn on the automatic overdraft thing which automatically transfers increments of $100 into the checking account at time of debit.
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Dec 8, 2023 01:29
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Bremen posted:The somewhat more imposing, but still very safe IMHO, option would be to do what I do, which is set up a Fidelity brokerage account to just keep the money in SPAXX, which currently gets 5% interest or so and you can get checks for. Plus I set it to auto-cover payments to my Fidelity credit card, which gets me 2% cash back, so I'm getting 5% interest and also 2% off all my purchases I can make with the card. This thread had a bit of discussion on that option starting with this post if you want to take a look. I was thinking about doing this too but was wondering about the expense ratio (0.42%). Am I right that the 5% yield is already factoring the 0.42% or how does that work?
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Dec 13, 2023 04:03
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So for the people holding cash in Fidelity SPAXX, has the interest rates and returns always been comparable to normal online HYSA rates? I see they are comparable today but I’m trying to figure out if it’s always been more or less comparable.
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Dec 15, 2023 22:09
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I saw the Robinhood 1% match a couple weeks ago and considered doing my next years Roth IRA with them. But I assumed the match would be more like a credit, ie deposit $7000 get $70 credited to my Robinhood account. I decided not to because I wasn’t sure about the 5 year commitment since there’s a chance that Robinhood folds or starts charging insane fees after the first year.
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Dec 28, 2023 00:31
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My final HSA contribution from pre-tax payroll deduction hasn't posted to the HSA account and the account doesn't show it as pending. Pay date was Friday 12/22 and it's usually in by the following Monday. If it ends up posting in January would it be counted towards my 2024 contribution or 2023? If it counted for 2024 is it a pain to get it changed to 2023? e: We can't adjust our HSA contributions midyear and my 2024 contributions were set to contribute exactly up to the match already.
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Dec 28, 2023 16:46
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Subvisual Haze posted:Following up on Robinhood offering 3% IRA match if you buy RH gold ($60/yr) from them or 1% match for account transfers: I opened a new account to see what Robinhood was like. They limit cash transfers into the account to a maximum of $1000 per business day. Seems like it would be rather tedious just funding new contributions to a Roth there. Can’t you just log into your bank’s website and push funds into Robinhood via ACH/ETF? That $1000 limit sounds awfully small. Are you sure that’s not just the instant deposit via a debit card limit or whatever?
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Jan 3, 2024 17:05
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Awesome I needed something to listen to at work today. E: I hate at VTI and VXUS seem to be swapped around. Logically if I didn’t know better I would have assumed VXUS was the US fund and VTI was international. E2: seems like episode 281 relates to the paper to fyi Boris Galerkin fucked around with this message at 14:21 on Jan 4, 2024 |
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Jan 4, 2024 14:16
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I push money out of my Fidelity account by 9am and it’s received and ready to be spent in my other bank accounts by 4pm. Just did so earlier today. If the op wants to put money into robinhood to not be able to easily access it then do keep this in mind.
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Jan 4, 2024 22:37
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Also now is a good time to sign up for a Schwab brokerage account because they’ll give you $101 funbucks for depositing only $50. https://www.schwab.com/investing-starter-kit I just opened a Schwab account over the holidays just to get the money. The website feels nicer than Fidelity’s pos website though. E: Specifically Schwab will deposit $101 into your account after you put in $50. It then makes a purchase order for $101 worth of stocks. You can cancel the order if you want and pocket the cash or use that cash to buy Schwab’s version of VTI or whagever. Boris Galerkin fucked around with this message at 22:52 on Jan 4, 2024 |
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Jan 4, 2024 22:45
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