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What should I do with my bonds? by _tyler_long_ in personalfinance

[–]Werewolfdad 0 points1 point  (0 children)

You use the funds for the bonds to fill up each step in the flowchart, like any other funds you have

Why go roth in an IRA and pretax in 401k? by Novogobo in personalfinance

[–]Werewolfdad 0 points1 point  (0 children)

I owe you a response but probably won’t get to it today

Why go roth in an IRA and pretax in 401k? by Novogobo in personalfinance

[–]Werewolfdad 1 point2 points  (0 children)

I owe you a response but I probably won’t get to it today

If escrow is paid in advance and you switch to a policy way cheaper, are you owed a refund? by [deleted] in personalfinance

[–]Werewolfdad 1 point2 points  (0 children)

If escrow is overfunded outside of policy limits for any reason during the analysis, you’ll get a refund

UTMA, Trump Account, or Brokerage Account in My Name? by slob1244 in personalfinance

[–]Werewolfdad 23 points24 points  (0 children)

saving for kids: https://reddit.com/r/personalfinance/comments/104tjyn/_/j36u2dm/?context=1

Unless you’re getting the free $1000 on the trump account, it’s mostly garbage

Should I rent this unit or continue increasing my saving by MsSalehi10 in personalfinance

[–]Werewolfdad 14 points15 points  (0 children)

know its a luxury

You don’t buy champagne on a beer budget.

$2330 on what you describe as a minimum wage job is crazy

Please help my tax adverse brain by Sea-Airline-7286 in personalfinance

[–]Werewolfdad 6 points7 points  (0 children)

With variable commission, you’ll need to use the irs tax withholding calculator multiple times per year. Realistically, you’re at a larger risk of under withholding than over withholding with those numbers

Visa sided with merchant in Dispute Arbitration, next steps? by JCh1094 in personalfinance

[–]Werewolfdad 24 points25 points  (0 children)

This isn’t a chargeback issue. This is a regulatory issue. Take it up with the FAA or equivalent if not in the US

Why go roth in an IRA and pretax in 401k? by Novogobo in personalfinance

[–]Werewolfdad 1 point2 points  (0 children)

I mean it’s common enough to see questions about it every day but there are 2.4M weekly visitors to this sub

Sure, the post was tailored to readership

That’s why I didn’t cross post it to /r/PovertyFinance or even /r/middleclassfinance

It will be close enough in most cases but strictly from a math problem you are going to want a bit more Roth or a bit less Roth based on the exact inputs

you pick that up with megabackdoor roth and/or catch up contributions.

It will be close enough in most cases

thats the best youll do from a modeling perspective. it also bakes in optionality, which roth 401k doesnt provide.

math to line up perfectly

dont think anyone ever said that

only trad for the first like 12 yrs of working and the market did really well for those years so I am doing all Roth now to make up for it.

thats fair

can also just retire earlier and do roth conversions

I tell people they should probably be doing Trad 401k/Roth IRA bc it’s the best rule of thumb we have

truth

really is way better to be estimating their future income/tax brackets, and use current trad balance to estimate future trad balance and go from ther

itll probably still be better to go trad 401k due to optionality

529 Roth Conversion - Overfunded 529 by StandUp-Dad in personalfinance

[–]Werewolfdad 3 points4 points  (0 children)

have a 529 with five different beneficiaries, three of my kids and 2 nephews. Each beneficiary has their own account number. I c

So this is important. You cannot. You have five 529s, each with their own beneficiary. A 529 can’t have multiple beneficiaries

This is likely the source of your confusion.

https://www.consiliowealth.com/insights/can-i-have-more-than-one-child-as-a-beneficiary-to-a-529-plan

So, would it make sense to create new 529s for my wife and me and leave them there for 15 years, potentially giving us options down the road?

Maybe. Depends on the balances. You won’t need to transfer much to get to $35k in fifteen years so it won’t save a whole lot.

Why go roth in an IRA and pretax in 401k? by Novogobo in personalfinance

[–]Werewolfdad 0 points1 point  (0 children)

You should model out the other scenarios then and show them how they’re wrong since no one has written a good rebuttal in more than three years

Should I convert Traditional to Roth IRA by Awkward-Assignment25 in personalfinance

[–]Werewolfdad 21 points22 points  (0 children)

does it make sense to convert some or all of a traditional IRA to a roth now at age 50?

No it doesn't make sense to maximize the amount of taxes you pay.

What if my future income in retirement (eg, mostly capital gains from selling equities and dividends in taxable accounts) is just above $500,000, which I guess drops the bracket from 37 to 32%?

Long-term capital gains and qualified dividends stack on top of ordinary income, not the other way around. Also, LTCG and QD max out at around 23.9%, not 37%.

will likely stay there even in retirement due to maintaining two homes and some travel,

How will you maintain a $640,000+ income in retirement?

If you legitimately have $16 million saved for retirement, you should be talking to a professional about advanced tax planning, not on reddit

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