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33 minutes ago, cubd8 said:

Thank you for the feedback. I added the Expense Ratio Below.

How much VANGUARD EXTEND MARKET INDX FD (VIEIX) do you recommend adding?

With the Columbia Fund performing well, but having a higher ER, do you recommend getting out completely and then moving that to what?

Ultimately, knowing where I'm currently at, how would you allocate on a 100% ratio, given I want to stay aggressive.

 

Current Holdings:

  • 80%: COLUMBIA TRUST CONTRARIAN CORE FUND  ----->YTD Return 21.49%, 4 stars from Morningstar
    • Net Expense Ratio: 1.02%
  • 20%: VANGUARD INSTITUTIONAL INDEX (VINIX), ----->YTD Return 14.01%, 5 stars from Morningstar, $331.47
    • Net Expense Ratio: 0.04%

Additional Equity Stocks to choose from:

  • ABERDEEN EMERGNG MRKT CL INSTL (ABEMX) ----->YTD Return 16.66%, 4 stars from Morningstar, $20.32
    • Net Expense Ratio: 1.10%
  • AMERICAN EUROPACIFIC GROWTH R6 (RERGX) -----> YTD Return 17.34%, 3 stars from Morningstar, $69.30
    • Net Expense Ratio: 0.47%
  • DFA US SMALL CAP PRTL CL INSTL (DFSTX) -----> YTD Return 2.90%, 3 stars from Morningstar, $38.42
    • Net Expense Ratio: 0.37%
  • HARTFORD MID CAP FD R6 (HFMVX) -----> YTD Return 25.06%, 2 stars from Morningstar, $43.27
    • Net Expense Ratio: 0.74%
  • VANGUARD EXTEND MARKET INDX FD (VIEIX) -----> YTD Return 32.23%, 5 stars from Morningstar, $124.74
    • Net Expense Ratio: 0.05%

So this is what I’d do if I wanted a portfolio of 100% US stocks without any redundancy/overlap (assuming you don’t have access to a total US market fund):

80% VINIX

20% VIEIX

Then I’d have the full US market at approximately market weight. I’d leave these alone until maybe 10 years out from retirement and then start to add bonds.

Here’s a link describing how to use an extended market index. Relevant quote:

Investors desiring to duplicate the total market portfolio using an extended market fund should manage their portfolio so as to include the S&P 500 fund and an Extended Market Index fund in about an 80%/20% proportion, and they will then be essentially holding the market.

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4 hours ago, cubd8 said:

Thank you! 

Same questions i asked D House. How would you allocate the funds from what I currently have? 

Doing VIEIX sounds logical, just want to now figure out how to adjust

If I was enrolling in this plan with the options you listed, I’d go:

70% VINIX

20% VIEIX

10% RERGX (AMERICAN EUROPACIFIC GROWTH)

I added a little international in but if you want to stay all Domestic then 80/20 as D house suggested.  If you want to keep COLUMBIA TRUST CONTRARIAN CORE FUND then you can substitute it for the VINIX entirely or a portion.  But I usually go low cost so I’d stick with the vanguard funds personally.  

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Damn that Columbia Contrarian fund is expensive.  60-70 bps is more normal for actively managed US fund.  If you were wanting to keep it, I would reverse the percentages between that fund in the vanguard index one. 1% is a really high hurdle rate for any good manager to beat consistently. 

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1 hour ago, Leeroy Jenkins said:

Say, if you had $100,000 sitting in your checking account, how much would you:

-- give to a financial advisor 

-- set aside for personal stock investments

-- budget for home projects

-- keep as cash

-- other?

 

No way to answer that. I personally would invest most of it and do it myself but I do use services which are basically FAs. That said there’s no way to answer the rest without knowing your life. 100k just in checking is not good, especially if it’s been there a while. Just 2020 alone, an index fund would have you at 120k.

I’d recommend having a brokerage account first because they have debit cards, online bill pay, checks, etc. as well. I still have a checking account but I use that for day to day and paying big things like car, mortgage and sometimes college. It’s not a growth account.

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3 hours ago, Leeroy Jenkins said:

Say, if you had $100,000 sitting in your checking account, how much would you:

-- give to a financial advisor 

-- set aside for personal stock investments

-- budget for home projects

-- keep as cash

-- other?

 

Give $0 to an FA.  Use this site and others (bogleheads a good one) if you need advice

Have 3-12 months of expenses set aside as an Emergency Fund.  Err on the high side if your job is not 100% stable, or you are a single income family, or your income swings (sales), or you are more cautious than average.  

Home projects are just a planning thing, no different than a car or vacation

 

Do you max your Roth(s)?

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7 minutes ago, wilked said:

Give $0 to an FA.  Use this site and others (bogleheads a good one) if you need advice

Have 3-12 months of expenses set aside as an Emergency Fund.  Err on the high side if your job is not 100% stable, or you are a single income family, or your income swings (sales), or you are more cautious than average.  

Home projects are just a planning thing, no different than a car or vacation

 

Do you max your Roth(s)?

Never heard of Bogleheads, thanks.  

 

At 56, need to tidy up all debt, then figure out things from there.  

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5 minutes ago, FairWarning said:

Never heard of Bogleheads, thanks.  

 

At 56, need to tidy up all debt, then figure out things from there.  

There is a 'first time poster' summary format at bogleheads.  Post your situation over there and you'll get many responses / feedback / advice, all very smart and seasoned advice, and all for free.  It's a no brainer.  I can almost guarantee you'll come away with something more than before you posted there

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2 hours ago, wilked said:

Give $0 to an FA.  Use this site and others (bogleheads a good one) if you need advice

Have 3-12 months of expenses set aside as an Emergency Fund.  Err on the high side if your job is not 100% stable, or you are a single income family, or your income swings (sales), or you are more cautious than average.  

Home projects are just a planning thing, no different than a car or vacation

 

Do you max your Roth(s)?

You're probably right.

That said, I'm really close to pulling the trigger and enrolling in the Boston University capstone CFP course. I'd probably just volunteer through the church and our adoption agency to help those, the fee would be a donation to those agencies. In a few years after that I might retire and start working part time in estate planning and financial advising. But I couldn't moonlight while in federal service (volunteer FA should be okay, just not legal advice).

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18 minutes ago, -OZ- said:

You're probably right.

That said, I'm really close to pulling the trigger and enrolling in the Boston University capstone CFP course. I'd probably just volunteer through the church and our adoption agency to help those, the fee would be a donation to those agencies. In a few years after that I might retire and start working part time in estate planning and financial advising. But I couldn't moonlight while in federal service (volunteer FA should be okay, just not legal advice).

You've been talking about this for a couple of years now it seems.  I'd really like to see you follow through on this.  

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44 minutes ago, -OZ- said:

You're probably right.

That said, I'm really close to pulling the trigger and enrolling in the Boston University capstone CFP course. I'd probably just volunteer through the church and our adoption agency to help those, the fee would be a donation to those agencies. In a few years after that I might retire and start working part time in estate planning and financial advising. But I couldn't moonlight while in federal service (volunteer FA should be okay, just not legal advice).

I'm  trying this now (well, pre-retirement) so let me know if you have any questions or want to discuss. 

I've learned to mostly ignore the anti-FA sentiment on here. :)

Edited by ConstruxBoy
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6 hours ago, Leeroy Jenkins said:

Say, if you had $100,000 sitting in your checking account, how much would you:

-- give to a financial advisor 

-- set aside for personal stock investments

-- budget for home projects

-- keep as cash

-- other?

 

Wife and I are approaching this ballpark..close enough to discuss anyways.

Zero to FA.  We may use one eventually but not at $100K.

$30k to savings for emergency purposes like medical emergency or loss of job.

$10k to home projects.

$60k to mutual funds.  Contrary to the sharks on this board I don't advise picking individual stocks at this level of wealth.  Save that fun for a portion of your egg at the $500k or $1MM mark. Use a mutual fund screener (we are at Merrill Lynch connected via our Bank of America checking/savings etc).  Just diversify to 5 or 6 different 5 star funds with a good 3, 5, and 10 year track record.

Just my :2cents:.  Not as sophisticated as most in here.

 

 

 

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3 minutes ago, ConstruxBoy said:

I'm  trying this now (well, pre-retirement) so let me know if you have any questions for want to discuss. 

I've learned to mostly ignore the anti-FA sentiment on here. :)

Listen, we all still love you.  We're just not paying for your services.   :)

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On 1/5/2021 at 3:29 PM, ConstruxBoy said:

I'm  trying this now (well, pre-retirement) so let me know if you have any questions or want to discuss. 

I've learned to mostly ignore the anti-FA sentiment on here. :)

what courses did you take?

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5 minutes ago, Tiger Fan said:

what courses did you take?

I took the SIE first, then Series 7 and Series 66. Have taken the SIE exam since I didn't need to work for the FA company. But now I'm waiting until I finish learning the 66 and then will join the company and study for the exams and take them. I might need to take an insurance course as well since sometimes annuities are used. 

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31 minutes ago, Swaymoney said:

What is a Roth IRA and should I open an account, aside from individual stock investments?

A Roth IRA is an individual retirement account to which you contribute after-tax dollars that upon retirement you can withdraw tax free. There are finer details and I encourage reading up on Roth vs traditional IRAs. Link

If you are already saving for retirement outside of an IRA, are eligible to contribute to one, and definitely don't need the money til age 59.5, it is almost certainly a good idea to open up an IRA.

 

Edited by D_House
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22 minutes ago, Swaymoney said:

What is a Roth IRA and should I open an account, aside from individual stock investments?

https://www.investopedia.com/terms/r/rothira.asp
 

Good starting resource, the TLDR is it is an investment vehicle where you can put after tax dollars in and then it can grow over time. When you take your contributions and the gains you’ve made over years out they are not taxed. Most people only have access to a before-tax investment vehicle like a traditional 401k at work where you put money in now and it reduces your taxes this year, but when you retire and take the money out it is then taxed at that time.

Without getting too complicated, having both types are great way to gain flexibility in retirement and plan around taxes, especially since no one knows what taxes will be like decades from now. There are lots of good learning resources on the web that I imagine other posters can direct you to.

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20 hours ago, Swaymoney said:

What is a Roth IRA and should I open an account, aside from individual stock investments?

The first rule of Roth IRAs is you don't talk about Roth IRAs

 

Oh wait, that's something else.  There are actually thousands (millions?) of articles about it.  Give it a search

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17 minutes ago, Leeroy Jenkins said:

The Roth IRA income test includes more than just your W2 income, correct?  So if you gross more than the $206k via salary and any other income (bonuses, real estate investment proceeds etc.) then you cannot contribute to a Roth, correct?

it's based on MAGI, so taking into account all sources of income

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So based on my end of year analysis we saved about 55% of our salaries this year.  And that will climb next year as I paid the mortgage off.  Somehow managed to survive the financial/life trauma of Sally beating the living snot out of my rental place.

My personal calculator now says I need 7.5% to go to "the line", though I need more in after tax accounts to make lasting until 59.5 feasible.  I'm somewhere at 30x expenses now, but that ain't enough in my circumstance.  The stock thread has pitched in there as my mad money account has grown 165% since the March low and is now a healthy part of the whole picture.

So, adios 2020.  Let's hope for a sane, calm 2021.

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2 hours ago, Sand said:

So based on my end of year analysis we saved about 55% of our salaries this year.  And that will climb next year as I paid the mortgage off.  Somehow managed to survive the financial/life trauma of Sally beating the living snot out of my rental place.

My personal calculator now says I need 7.5% to go to "the line", though I need more in after tax accounts to make lasting until 59.5 feasible.  I'm somewhere at 30x expenses now, but that ain't enough in my circumstance.  The stock thread has pitched in there as my mad money account has grown 165% since the March low and is now a healthy part of the whole picture.

So, adios 2020.  Let's hope for a sane, calm 2021.

I don't know your circumstances, but unless you have no room to cut expenses if needed, 30x should be plenty. 

Sometimes it seems people forget that if you're a big spender but can stomach not spending as much at times, you have a lot more wiggle room than someone looking to "lean FIRE"

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If I've currently maxed out all tax advantaged accounts (401k traditional, roth ira via backdoor, hsa and enough 529) would it be common sense to switch from a tradional 401k to a roth 401k.   At this point any further investments I make will be post tax so I might as well put it into an account that won't have me paying any taxes on gains upon withdrawal; in addition to some of the other advantages that a roth affords.  I think I know the answer to this, but I wanted to make sure I wasn't doing something stupid.

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13 minutes ago, NutterButter said:

If I've currently maxed out all tax advantaged accounts (401k traditional, roth ira via backdoor, hsa and enough 529) would it be common sense to switch from a tradional 401k to a roth 401k.   At this point any further investments I make will be post tax so I might as well put it into an account that won't have me paying any taxes on gains upon withdrawal; in addition to some of the other advantages that a roth affords.  I think I know the answer to this, but I wanted to make sure I wasn't doing something stupid.

Need more specificity here. Do you mean you've already contributed the maximum amount for 2021 or have your payroll set to take out the right amount you max for the year? 

Assuming it's that you've already given the maximum contribution, I don't think you can get more into a Roth 401k. Your employer could give more (some might) but I'm fairly certain it has to be traditional.

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1 hour ago, -OZ- said:

Need more specificity here. Do you mean you've already contributed the maximum amount for 2021 or have your payroll set to take out the right amount you max for the year? 

Assuming it's that you've already given the maximum contribution, I don't think you can get more into a Roth 401k. Your employer could give more (some might) but I'm fairly certain it has to be traditional.

The latter.   I'll be doing the max this year in equal distributions throughout the year and I'm thinking of switching to the roth as I believe its the best use of the additional money that I will have available.   

Edited by NutterButter
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1 hour ago, NutterButter said:

The latter.   I'll be doing the max this year in equal distributions throughout the year and I'm thinking of switching to the roth as I believe its the best use of the additional money that I will have available.   

Gotcha. 

It really depends on your marginal tax rate imo. https://www.nasdaq.com/articles/2020-2021-federal-tax-brackets-and-tax-rates-2020-12-28 and what you think your future income looks like.

If you're in the 22% bracket (I am), I think a fairly even split makes sense. If you're in a higher marginal tax bracket and don't have a pension, push more traditional. If you're in the 12%, go full on Roth. Don't forget to adjust for tax deductions to see what bracket you're likely to be in (or just use this year if it looks to be about the same)

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29 minutes ago, -OZ- said:

Gotcha. 

It really depends on your marginal tax rate imo. https://www.nasdaq.com/articles/2020-2021-federal-tax-brackets-and-tax-rates-2020-12-28 and what you think your future income looks like.

If you're in the 22% bracket (I am), I think a fairly even split makes sense. If you're in a higher marginal tax bracket and don't have a pension, push more traditional. If you're in the 12%, go full on Roth. Don't forget to adjust for tax deductions to see what bracket you're likely to be in (or just use this year if it looks to be about the same)

Probably still some math involved, but wanted to throw out an example to make sure we're on the same page.  Say I have 25k pre-tax income (19.5 post tax income);  the math probably doesn't add up exactly, but just trying to keep it simple.  I can go all traditional which leaves me with 5.5k pre-tax (25k-19.5k); say 4k post tax.  Now I have no where to put that 4k other than a trading account which means I get taxed at the very least on dividend distributions as well as earnings when I start withdrawing during retirement.   Or I can take the whole 19.5k post-tax income and put it into a roth 401k and now its all tax free going forward.   I know those roth/traditional comparisons are usually fairly close.  Without doing the math, I thought that this wrinkle would make the roth an obvious choice, but maybe its not as obvious as I thought.   As an added benefit, that additional roth money gives you a lot more flexibility to lower your earned income during retirement thus potentially reducing SS taxes and/or making you eligible for obamacare subsidies (pre-medicare retirement years) so it would be nice to have a big chunk of that. 

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48 minutes ago, NutterButter said:

Probably still some math involved, but wanted to throw out an example to make sure we're on the same page.  Say I have 25k pre-tax income (19.5 post tax income);  the math probably doesn't add up exactly, but just trying to keep it simple.  I can go all traditional which leaves me with 5.5k pre-tax (25k-19.5k); say 4k post tax.  Now I have no where to put that 4k other than a trading account which means I get taxed at the very least on dividend distributions as well as earnings when I start withdrawing during retirement.   Or I can take the whole 19.5k post-tax income and put it into a roth 401k and now its all tax free going forward.   I know those roth/traditional comparisons are usually fairly close.  Without doing the math, I thought that this wrinkle would make the roth an obvious choice, but maybe its not as obvious as I thought.   As an added benefit, that additional roth money gives you a lot more flexibility to lower your earned income during retirement thus potentially reducing SS taxes and/or making you eligible for obamacare subsidies (pre-medicare retirement years) so it would be nice to have a big chunk of that. 

The flexibility makes for a fair case if otherwise it's close (and it probably is). 

I'm not sure where health care will be in 20+ years. Haven't given it much thought (we're covered with $300 annual fee, max cap of $3,000 annual). But if that's a consideration, all the more reason to go Roth. 

I think the best argument for heavy Roth, is the possibility that capital gains taxes increase (like you mention, the extra saved by using traditional would go into a regular brokerage) and it seems unlikely that Congress would change the rules impacting the Roth.

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5 hours ago, -OZ- said:

The flexibility makes for a fair case if otherwise it's close (and it probably is). 

I'm not sure where health care will be in 20+ years. Haven't given it much thought (we're covered with $300 annual fee, max cap of $3,000 annual). But if that's a consideration, all the more reason to go Roth. 

I think the best argument for heavy Roth, is the possibility that capital gains taxes increase (like you mention, the extra saved by using traditional would go into a regular brokerage) and it seems unlikely that Congress would change the rules impacting the Roth.

Why is that? I could argue that you that might be way easier to do. For a traditional IRA, you can argue that every dollar put in or gained will get hit with a tax eventually. For a Roth IRA, some congressmen from NY on a tax increase bill could argue that the gains never get taxed and so a 10% levy isn’t a bad way to pay for stimulus bill 56.

Not saying it will happen but it’s absolutely not off the table*. Traditionals are already taxed as ordinary income so the risk isn’t there.

* Note that this is just conjecture in a case where the government needs to raise taxes and is looking for places to get money. People who make more money or have larger balances are easy targets. 

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10 hours ago, NutterButter said:

If I've currently maxed out all tax advantaged accounts (401k traditional, roth ira via backdoor, hsa and enough 529) would it be common sense to switch from a tradional 401k to a roth 401k.   At this point any further investments I make will be post tax so I might as well put it into an account that won't have me paying any taxes on gains upon withdrawal; in addition to some of the other advantages that a roth affords.  I think I know the answer to this, but I wanted to make sure I wasn't doing something stupid.

I wouldn’t (don’t). 
 

if you can max all of the above you’re likely a high earner. High earners pay high tax brackets. I’d want to do pretax money, assuming I would be in a lower bracket in retirement. 

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43 minutes ago, wilked said:

I wouldn’t (don’t). 
 

if you can max all of the above you’re likely a high earner. High earners pay high tax brackets. I’d want to do pretax money, assuming I would be in a lower bracket in retirement. 

I'm in the 24% individual bracket if that changes anything.   I'd definitely be in the 22% bracket in retirement except if I chose to be in a lower bracket by leveraging non-taxable income.   

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3 hours ago, stbugs said:

Why is that? I could argue that you that might be way easier to do. For a traditional IRA, you can argue that every dollar put in or gained will get hit with a tax eventually. For a Roth IRA, some congressmen from NY on a tax increase bill could argue that the gains never get taxed and so a 10% levy isn’t a bad way to pay for stimulus bill 56.

Not saying it will happen but it’s absolutely not off the table*. Traditionals are already taxed as ordinary income so the risk isn’t there.

* Note that this is just conjecture in a case where the government needs to raise taxes and is looking for places to get money. People who make more money or have larger balances are easy targets. 

The political fall out of taxing Roth accounts would be huge.  I'm not saying it absolutely won't happen but it would be political suicide and impact the relatively less wealthy or high income individuals.

As opposed to raising the high end tax rates or raising capital gains tax rates, which have a larger impact on the wealthy.

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1 hour ago, NutterButter said:

I'm in the 24% individual bracket if that changes anything.   I'd definitely be in the 22% bracket in retirement except if I chose to be in a lower bracket by leveraging non-taxable income.   

There's no definites with future tax rates.  (You probably just mean the current bracket, but that's the point and advantage of the Roth, we don't know future tax rates)

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21 minutes ago, -OZ- said:

The political fall out of taxing Roth accounts would be huge.  I'm not saying it absolutely won't happen but it would be political suicide and impact the relatively less wealthy or high income individuals.

As opposed to raising the high end tax rates or raising capital gains tax rates, which have a larger impact on the wealthy.

Possibly, just saying that if the government is trying to find places to raise taxes that I wouldn’t say it’s off limits. Do I think it will happen? No, but slapping on a 5% or 10% tax on gains could be pretty easy to do especially if you see “wealth” type taxes like Biden wants on capital gains. He has a plan with incomes over $1M to pay income tax rates on long term capital gains. If you have a Roth over $500k, 10% on money withdrawn over the initial investments.

Anyway, just throwing it out there but that plan on long term gains kind of opens up some windows. At some point these stimulus bills (about to be a tsunami of them) will come due.

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4 hours ago, -OZ- said:

There's no definites with future tax rates.  (You probably just mean the current bracket, but that's the point and advantage of the Roth, we don't know future tax rates)

Yup, i always just plan for the current. I really dont try and predict the future in terms of whats gonna change as far as the government.   I like the roth bc the options it gives u.   

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Love the discussion in here on Roth vs Traditional. I think (in higher brackets) it's mostly a devil I know scenario. That's where we are though I did max out Roth IRAs for the last couple of years for both of us to try and split our tax burden a little bit. Since we are planning on retiring early my main focus now is to build a healthy dividend portfolio in a taxable account. We'll have quite a bit of rental income coming in so supplementing that with another passive stream that doesn't require selling stocks seems like a good path. The plan is to retire about 15 years before we're eligible to pull money out of retirement accounts without penalty so we'll need something to help bridge the gap. Unless I become a crypto millionaire of course...

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6 minutes ago, CR69 said:

Love the discussion in here on Roth vs Traditional. I think (in higher brackets) it's mostly a devil I know scenario. That's where we are though I did max out Roth IRAs for the last couple of years for both of us to try and split our tax burden a little bit. Since we are planning on retiring early my main focus now is to build a healthy dividend portfolio in a taxable account. We'll have quite a bit of rental income coming in so supplementing that with another passive stream that doesn't require selling stocks seems like a good path. The plan is to retire about 15 years before we're eligible to pull money out of retirement accounts without penalty so we'll need something to help bridge the gap. Unless I become a crypto millionaire of course...

You are aware of 72t, yes? 

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6 minutes ago, wilked said:

You are aware of 72t, yes? 

Ish? I am aware of it and looked at this in the past but felt that for some reason that going brokerage was better than that. Maybe the flexibility? I tend to value flexibility fairly high (potentially too high) but will look at it again. 

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2 hours ago, CR69 said:

Ish? I am aware of it and looked at this in the past but felt that for some reason that going brokerage was better than that. Maybe the flexibility? I tend to value flexibility fairly high (potentially too high) but will look at it again. 

it's the opposite of flexible, so prob not good for you.  Just want to be sure you know all options

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Just a reminder to see if you can save on your insurance by shopping around for quotes every once in a while.  I got a new car this summer and just called Geico and added the new car onto the existing policy.  Shopped around for quotes today and got better coverage, from a better insurer, for $900 less between car and homeowners policies. 

Gonna take that savings and YOLO it in some Bitcoin!

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Anyone with a recommendation for a high yield savings / money market account that they've used?  Extra credit if they give any sort of a deposit bonus as well.  I'm doing a cash-out refi and looking to park some money until doing a house remodel this summer/fall. 

Also, similar question for kid's savings accounts.  I've got a couple set up for my two daughters, but they suck.  Looking for anything that's a bit higher interest bearing for them.  Found a kid specific account that's 7% interest up to $1,000 balance through a credit union, but there were a few hoops to jump through that I just haven't taken the time to do.  Wondering what else might be out there that people have found and recommend. 

TIA

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4 hours ago, SayWhat? said:

Anyone with a recommendation for a high yield savings / money market account that they've used?  Extra credit if they give any sort of a deposit bonus as well.  I'm doing a cash-out refi and looking to park some money until doing a house remodel this summer/fall. 

Also, similar question for kid's savings accounts.  I've got a couple set up for my two daughters, but they suck.  Looking for anything that's a bit higher interest bearing for them.  Found a kid specific account that's 7% interest up to $1,000 balance through a credit union, but there were a few hoops to jump through that I just haven't taken the time to do.  Wondering what else might be out there that people have found and recommend. 

TIA

Good luck. 

Chase sent me an offer for $200 bonus, but I don't think their yield is much. Discover has 0.5% now, M1 offered a year of M1+ for free with a 1% yield on cash. 

Check: https://www.nerdwallet.com/article/banking/best-bank-bonuses-promotions?trk=nw_gn_5.0

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7 hours ago, SayWhat? said:

Anyone with a recommendation for a high yield savings / money market account that they've used?  Extra credit if they give any sort of a deposit bonus as well.  I'm doing a cash-out refi and looking to park some money until doing a house remodel this summer/fall. 

Also, similar question for kid's savings accounts.  I've got a couple set up for my two daughters, but they suck.  Looking for anything that's a bit higher interest bearing for them.  Found a kid specific account that's 7% interest up to $1,000 balance through a credit union, but there were a few hoops to jump through that I just haven't taken the time to do.  Wondering what else might be out there that people have found and recommend. 

TIA

Where rates are right now and what future fed policy looks like I doubt you find anything good out there. 
 

That said 7 percent seems too good to be true. The credit union has to be losing money on that so there must be a catch. 

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