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Also, we don’t have any tickers for any of our 401k options. All the fact sheets say this at the top. It’s very annoying. Especially since I can’t even share the documents. 
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Dec 28, 2023 14:47
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Residency Evil posted:I thought I'd be clever this year and use my brokerage account settlement fund to fund my IRA/my wife's IRA because I thought the money would be in Vanguard already and that would somehow make it easier/doable in one day. I tried to do this, where both IRA and taxable were under the same Vanguard login, and couldn’t get it to work. I finally found the right screen but then it said I had insufficient balance in my settlement account which was not true. So instead I now have this, both to the same checking account: 
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Jan 1, 2024 22:06
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Takes No Damage posted:Reading up on backdoor some more and it sounds like it's more for people who are juggling IRAs from multiple sources and trying to get everything consolidated into a single account? No, it’s literally just to avoid the income limits on contributing to a Roth. That’s why the “backdoor” term.
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Jan 9, 2024 13:48
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If you look at a chart of BOXX, seems clear you have to sell to take income.
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Jan 9, 2024 23:50
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401ks are protected from judgements and bankruptcy which is nice if you ever have that.
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Jan 21, 2024 17:22
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Oops, just realized that if you have a monthly auto contribution to a mutual fund, you can’t really sell lots of that fund for tax loss harvesting without triggering wash sales.
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Jan 23, 2024 20:41
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Advantages of mutual funds over ETFs… You can buy arbitrary dollar amounts rather than full shares. You can also set up scheduled investments, like buy $1000 of VTSAX every month, I don’t recall that on any of my brokerage accounts.
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Jan 24, 2024 01:12
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It looks like SPAXX returned 5% over the last year so that shouldn’t really be pennies on $3500.
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Jan 27, 2024 15:45
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Owning the S&P 500 and the 400 and the 600 would have me asking pointed questions to any financial adviser. Edit: oh I see, the 400 is mid cap and the 600 is small cap. Feel like that should be in the fund name.
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Jan 28, 2024 20:22
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A weird Ally quirk is that they will offer unlisted CDs on unusual durations at slightly higher rates. Like right now they have a 14 month CD at 5% which is higher than their 12 month (4.90%) or 18 month (4.65%). https://www.ally.com/go/bank/14m-select-cd/
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Feb 1, 2024 13:52
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Speaking of I bonds, does anyone know why the fixed rate was all the way up to 3.3% in the late 90s but then slowly dropped to zero and stayed there for ten years before the more recent increases?
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Feb 6, 2024 19:19
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It will depend on how much you plan to put in and how much your salary is. For instance, if you made $150K, the first plan puts in $4K for your $6K contribution, which is better than the second plan.
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Feb 10, 2024 00:25
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I will say, as my salary has increased, 6% of it has become a more meaningful number relative to the 401K max.
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Feb 10, 2024 20:13
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Interesting article about how I Bonds eventually mature after 30 years, and how this can be a surprise tax bill if you aren’t paying attention. https://tipswatch.com/2024/02/04/long-time-i-bond-investors-face-a-tax-time-bomb Also this bit makes me wish I had a time machine: “When I Bonds were first created in the fall of 1998, the purchase limit was $30,000 per person per year, and the Treasury even allowed credit cards to be used for purchases with no fees. (Air miles!) This means couples could buy $60,000 in I Bonds each year in those early years.”
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Feb 11, 2024 16:14
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adnam posted:It always tickled me when I transferred huge (to me) sums of money on my mobile apps on the phone. "Oh look, there went $50,000. I hope it was $50,000 and not $500,000, or more. Let me double check my fat fingers." I always enjoy the transfer screen in Ally’s app where there are just buttons for +$100, +$500, +$1000, +$5000.
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Feb 13, 2024 00:25
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Yeah, that’s a good thing to point out. The shares will vest on a particular day but just be in limbo for a couple of days after before you can sell? It’s very old school brokerage. Delayed stock quotes and commissions and everything.
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Feb 13, 2024 01:04
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My wife has Empower at a small employer and the only acceptable fund is a Black Rock S&P 500 index. Everything else is close to 1% fees.
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Feb 14, 2024 14:06
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drk posted:This catches a lot of people. You should absolutely not expect your brokerage to tell you what percent of a fund is state tax exempt, nor should you assume it is 100% because it has a name like treasury fund or whatever. I’m surprised they don’t make the brokerages calculate more of this stuff. If they don’t report values to the IRS or state revenue service, mistakes will never get caught outside of a full audit.
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Feb 15, 2024 14:22
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Stock Plan Connect from Morgan Stanley is a similar situation. I don’t think they ever close your account, even if you got 20 shares of stock ten years ago and sold it immediately.
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Feb 20, 2024 13:56
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Yeah that’s always the dilemma of using any system that isn’t standard best practice. Maybe your cute trick to support numeric entry accidentally weakens the security of the entire system. Oops.
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Feb 26, 2024 14:16
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I don’t like how it is so focused on them wanting to get all my assets under their management. Like every time I open the app, it takes me to the notifications tab with all these “new” notifications I can’t get rid of. All of them just want me to talk to an advisor. It’s just junk. 
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Feb 27, 2024 01:48
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Having something that won’t owe taxes on gains can be useful if you want to segregate some funds entirely from your other holdings. Like if you are holding onto money for someone in your family. But that’s not really a financial benefit.
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Mar 3, 2024 16:02
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Is it weird that my 401K provider (Principal) makes no distinction between Roth and non-Roth money in my account? It just has a single balance despite me doing mega-backdoor Roth contributions. It does accurately break out before-tax and after-tax on the contribution side, so I have no reason to suspect it’s actually being done wrong. But when I get to retirement age it seems like the distinction is pretty important?
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Mar 24, 2024 16:15
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Thanks for confirming. I just think it’s mental they don’t list them separately in any place in my statement or in the UI. My only guess is they don’t want the complexity of managing two accounts and separate allocations and rebalancing etc.
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Mar 25, 2024 03:40
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While I was just whining about how Principal doesn’t separate pre-tax and post-tax 401k money, they do make a mega back door Roth very simple. You just pick an after-tax percentage and turn on “Super Roth” and that’s it.
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Mar 26, 2024 22:29
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Antillie posted:From what I have heard Vanguard's web site isn't as user friendly as Fidelity's or Schwab's. My issue with Vanguard is mainly around phone usage. Like the iPhone app doesn’t support everything that the website does, and then the website also doesn’t have mobile views for everything. For instance you can’t use the app for selling by Spec ID. Which is basically all my selling.
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Apr 9, 2024 16:42
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