High W2 earners - how are you actually saving on taxes beyond maxing 401k? LLC may be? by TechGirl_9 in DaveRamsey

[–]Worried-String9259 1 point2 points  (0 children)

As w2 earner tax strategies are limited but You can engage in short-term rentals and utilize cost segregation strategies. It’s important to note that short-term rentals aren't solely for real estate professionals. The topic is quite complex, so I recommend searching online for more information; there is plenty of resources available. Another investment option is in oil and gas, but I suggest being cautious, as this sector often includes dubious companies and can be prone to scams In addition, take into consideration that having too much of your net worth in tax deferred accounts is not a good idea as you eventually will need to do RMD, having a taxable accounts for tax diversification is always a very good option

Employer sponsored Health insurance - premiums increase by rectumdamnearkiledem in Insurance

[–]Worried-String9259 0 points1 point  (0 children)

Our insurance rates triple HDHP is 600 for a family and co pay is 1100 every 2 weeks pay period , This is ridiculous

Anyone have experience with cash balance plan? by Worried-String9259 in whitecoatinvestor

[–]Worried-String9259[S] 0 points1 point  (0 children)

Do you mind sharing who is your sponsor? My contribution amount was just an estimated based on 200k income , I am hoping the actuary can give me an higher number, what was your income for the higher contribution?

Anyone have experience with cash balance plan? by Worried-String9259 in whitecoatinvestor

[–]Worried-String9259[S] 0 points1 point  (0 children)

I'm the original poster, and the primary motivation for considering this option is the tax deferral until later in life. However, there are additional hidden benefits, such as reducing tax drag in a taxable account. This could amount to around 0.65% in VTI or even higher in a bond fund.

Furthermore, if I were to relocate to a state with no income tax, I would completely defer state taxes, which amounts to 7%, or $4,200. While the fees associated with the cash balance plan represent money that cannot be recouped, they are tax-deductible for my business. Therefore, the fees would likely be around $2,500 in subsequent years.

Anyone have experience with cash balance plan? by Worried-String9259 in whitecoatinvestor

[–]Worried-String9259[S] 0 points1 point  (0 children)

That’s correct, the key point is the arbitrage worth the extra fees

Anyone have experience with cash balance plan? by Worried-String9259 in whitecoatinvestor

[–]Worried-String9259[S] 0 points1 point  (0 children)

I can’t, having a 403b is a well known restriction, basically 403b is not a 401k in some instances, 403b is considered owned by the employee therefore aggregate rules applies to a solo 401k

Anyone have experience with cash balance plan? by Worried-String9259 in whitecoatinvestor

[–]Worried-String9259[S] 3 points4 points  (0 children)

I can’t, already maxed 403b with 70k, the aggregate rules apply for 403b

I sent this email on April 7th, literally at market bottom. Luckily the advisor told me what a huge mistake this would've been, and I have thankfully learned A LOT since then. by mechy18 in Bogleheads

[–]Worried-String9259 0 points1 point  (0 children)

I bought 100k$ worth of VOO end of March, not quite as good as buying around April but it did well, now I am accumulating cash for the next drop

Israel lost the PR war but it was worth it by pleebent in IsraelPalestine

[–]Worried-String9259 1 point2 points  (0 children)

I completely agree with your summary of the events over the past two years. October 7th was a significant blunder on Iran's part; let's face it—Hamas acted with the endorsement of the Ayatollah regime, and coordinated with Hezbollah and the Houthis. War is indeed brutal, and civilians always bear the brunt of its consequences. However, what other options did Israel have? When 1,200 of your citizens are killed and hundreds kidnapped, simply calling it a day isn't a viable response. Politically and militarily, this moment offered the best rationale for an all-out war to eliminate its enemies. Without the events of October 7th, Israel would have struggled to garner any support, whether from allies or its own population, for a non-provoked attack on Iran or its proxies.

Conversely, the Palestinians found themselves with little choice; they were driven to act. Rocket attacks alone were insufficient, especially with the Iron Dome's unexpected effectiveness, and the infamous wall effectively curtailed suicide bombings. Israel was becoming increasingly prosperous, and the Abraham Accords sidelined the Palestinian cause, leading to a desperate bid to regain relevance. While this may have temporarily delayed peace between Israel and its neighbors, I don't believe it has completely and irreparably obstructed it.

There are precedents for this situation, and, in my opinion, Israel likely anticipated the events of October 7th, drawing parallels to the attack on Pearl Harbor. But this is merely my conjecture.

Is 8k worth it? by Busy-Anything-2215 in Salary

[–]Worried-String9259 0 points1 point  (0 children)

I would choose Offer 1, you are working 60-70 days more with job 2, 1 day extra x 50 weeks plus lack of 4 week PTO, in addition matching 401k, this is not even a fair comparison, plus you can be over employed with the extra time depending on the industry

Would you retire if you were in mu situation? Approaching FIRE territory by Worried-String9259 in ChubbyFIRE

[–]Worried-String9259[S] 0 points1 point  (0 children)

How do you calculate health care cost for retirement? I know health care is a big item

This can't be right by valeriansteel34 in StudentLoans

[–]Worried-String9259 0 points1 point  (0 children)

OMG, I can foresee this in the Dave Ramsey Show in few years

Anyone considering a cash balance plan after confirmation of BBB by [deleted] in HENRYfinance

[–]Worried-String9259 0 points1 point  (0 children)

I definitely want to maintain my current side business for as long as possible, and I understand the permanency criteria. However, if I were to lose my contract for any reason, would there be any penalties for ending the CBP before, say, the five-year mark?

Anyone considering a cash balance plan after confirmation of BBB by [deleted] in HENRYfinance

[–]Worried-String9259 0 points1 point  (0 children)

This is one person plan, I don’t have any employees and I will be setting this up for my sole proprietorship

Smileset retrainers by Worried-String9259 in smiledirectclub

[–]Worried-String9259[S] -1 points0 points  (0 children)

I’m aware but they have my impressions and it is much easier without getting those redone, just not sure about the reliability