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Viewing profile - smithson1

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smithson1
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Joined: Sat Feb 23, 2013 12:09 am
Last visited: Mon Dec 29, 2014 4:48 am
Total posts: 50
[0.06% of all posts / 0.04 posts per day]
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Most active forum: Personal Finance
[ 50 Posts / 100.00% of user’s posts ]
Most active topic: What to do with bad 401K fund selection?
[ 2 Posts / 4.00% of user’s posts ]

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 Forum: Personal Finance   Topic: Fairly Recent Grad (2012): Advice On My First Company 401k

Posted: Sat Dec 20, 2014 8:49 pm 

Replies: 3
Views: 940


I would pay back your aunt the $50k as soon as possible, even though she's not charging you interest. I wouldn't feel comfortable owing a relative $50,000. You could pay her $30k now and the remaining $20k over the next few months.

 Forum: Personal Finance   Topic: College savings 520 plan

Posted: Sat Dec 20, 2014 8:16 am 

Replies: 5
Views: 1623


You'll probably want to save as much as possible. You probably won't save enough to cover everything, so do the best you can and let your kid take on a reasonable amount of debt to fund the remaining cost. Don't over analyze investing in a 529, simply follow the steps below: 1. Open a 529 in your st...

 Forum: Personal Finance   Topic: What to do with bad 401K fund selection?

Posted: Tue Dec 16, 2014 5:12 pm 

Replies: 9
Views: 1407


I agree they offer a good selection of funds. I'm your age and I have most of my retirement assets in the Vanguard 500 Index fund. It's well diversified and should match the market. With 30 years until retirement, investing more than a miniscule portion of your retirement in bonds will impact long t...

 Forum: Personal Finance   Topic: What to do with bad 401K fund selection?

Posted: Mon Dec 15, 2014 6:54 pm 

Replies: 9
Views: 1407


If they don't offer a match, go with an IRA/Roth and invest with whomever you choose.

If you're young, nearly 100% exposure to stock is fine. What's your age?

What funds do they offer?

 Forum: Personal Finance   Topic: Year-End Tax Tips

 Post subject: Re: Year-End Tax Tips
Posted: Sun Dec 07, 2014 10:09 am 

Replies: 23
Views: 2187


It's a decent benefit. I actually contribute to 529's for myself and my wife for the sole purpose of the tax deduction. In Wisconsin, we can take $3,000 per person, so we're basically saving $360 (6,000 * 6%). I proceed to withdraw the funds shortly after contributing which is tax and penalty free a...

 Forum: Personal Finance   Topic: Year-End Tax Tips

 Post subject: Re: Year-End Tax Tips
Posted: Sat Dec 06, 2014 2:53 pm 

Replies: 23
Views: 2187


Many states offer tax deductions for 529 contributions, the limit is determined by the state. The deduction is at the state level, not federal.

 Forum: Personal Finance   Topic: Help with decision, keep older car vs. upgrading?

Posted: Thu Nov 27, 2014 8:34 am 

Replies: 17
Views: 2360


If money is not an issue, go ahead and buy the new ride. If money is an issue, it sounds like you'll be selling the 2007 for $2k less than the purchase price given your comment about buying a $25k car less $10k trade = $15k. I wouldn't be too thrilled about losing $2k. Also, you mentioned that the 2...

 Forum: Personal Finance   Topic: 35 year old, thinking about cashing out some IRA funds

Posted: Sun Nov 16, 2014 7:00 am 

Replies: 16
Views: 2740


I wouldn't touch the IRA as you'll be taxed plus penalized by 10%. The fiscally responsible thing to do would be to use your savings to pay off the $8k debt which leaves you with no credit card debt and $32k in savings. Another fiscally responsible thing to do is spend far less than $32k on a weddin...

 Forum: Personal Finance   Topic: My healthcare

 Post subject: Re: My healthcare
Posted: Sun Nov 16, 2014 6:57 am 

Replies: 24
Views: 17210


Few random thoughts.....I was surprised that so many insurance companies on the exchange were offering HMO's and EPO's (exclusive provider network). I'm sure many uneducated consumers will choose the lowest priced plan only to find out their doctor or hospital isn't in network, or even covered in so...

 Forum: Personal Finance   Topic: Career move and a question or two

Posted: Fri Oct 17, 2014 4:12 pm 

Replies: 5
Views: 1119


I have a Roth IRA and 401k through Vanguard. It's really nice to be able to manage both accounts through one login. I'd keep everything with them.

 Forum: Personal Finance   Topic: A disturbing trend in the health care industry...

Posted: Sun Sep 21, 2014 9:32 am 

Replies: 32
Views: 2447


You are incorrect. This 'disturbing trend' will continue as Obamacare does little to curb increasing health care costs, it merely ensures everybody can obtain health insurance.

 Forum: Personal Finance   Topic: kitchen appliances update

Posted: Sun Aug 31, 2014 10:22 am 

Replies: 16
Views: 1628


You mentioned being a single mom. How old are your kids? Make them help with the dishes.

Another option is to use paper plates and plastic silverware for a while. You won't need a dishwasher and you won't have to do as many dishes.

 Forum: Personal Finance   Topic: Student loan question

 Post subject: Re: Student loan question
Posted: Fri Aug 29, 2014 3:15 pm 

Replies: 10
Views: 2468


The goal should be to have fewer lower loans, not more. I wouldn't worry about 'ungrouping' then loan, if it's even possible. At the end of the day, you have $15k at 6.8%, doesn't really matter if it's $9k + $6k or not. They probably group them because it's easier to manage 1 loan vs. 2 loans and it...

 Forum: Personal Finance   Topic: 401K dilemma, need advice

Posted: Thu Aug 14, 2014 2:18 pm 

Replies: 7
Views: 905


If you're planning to stay there for a while and become fully vested, I would move the money back to the 401k. $5k is a nice chunk of change.
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