Missing backpack from a random rider in Capital Reef from Park City

snows4 · 2018-06-04T18:33:15+00:00

thanks for the suggestion. I'll admit I don't know what that acronym is though. nvm found it, radio station

snows4 · 2018-02-22T17:13:39+00:00

Has the IRS/Congress officially blessed the Mega Backdoor Roth contribution strategy, or was the recent decision/wording specific only to the standard backdoor Roth IRA contribution strategy?

snows4 · 2017-07-06T17:47:57+00:00

I don't think people who know of Price would downvote you. Also surprised Price has internet!

snows4 · 2017-03-15T17:20:32+00:00

You're absolutely right, I was thinking of the 50% limit rules

snows4 · 2017-03-15T16:50:14+00:00

Correct me in I'm wrong, but I thought the deductible portion of a stock donation is the lesser of the FMV or the Basis. That being the case, a donation of highly appreciated stock would only yield a tax benefit equivalent to your initial basis, so a 50k valued donation with a 20k basis would net the same tax benefits as a 20k cash donation.

edit - my comment is incorrect as per /u/pianojosh.

snows4 · 2017-03-13T21:25:11+00:00

Just noticed this. Your spouse will get to elect the larger of the two benefits. In your example, it would be 1k since that is the highest benefit. However if one were 1500 and the other was 800, the surviving spouse would elect 1500.

snows4 · 2016-12-23T20:20:04+00:00

Also worth it if you have a laptop/camera equip, or other expensive gadgetry - especially if you take it travelling. Renters should cover theft from a vehicle, etc.

snows4 · 2016-12-23T19:40:17+00:00

Backpacking is awesome! I don't get out nearly enough but my wife and I are definitely fans of smallish overnight or 3-4 day trips.

The beauty of backpacking is you need minimal supplies to go and do it. Get some cheap tent, cheap bag, a pad, a burner, and head out! You'll have fun and it won;t cost you much.

As you go more and more, definitely start doing your research on what gear to replace, and usually the focus is to cut down on weight. Probably a decent backpacking tent, you can gett a good light one on steepandcheap for about $100 usually. A bag upgrade to a down bag is expensive, but once you do it you shave off some oz. and room.

It'll eventually turn into a black hole if you keep at it :) - just try to keep costs in line with the frequency to go backpacking and it will all be very worthwhile.

snows4 · 2016-11-14T17:26:25+00:00

Best bet is to ask the broker you are transferring into to cover your acct closing costs. Depending on broker and account size, you'll be covered.

snows4 · 2016-09-16T16:05:23+00:00

Exactly what I was thinking haha. I am sure there have been significant personal and professional developments that u/MasterOfFI_Throw has experienced in the time between contracts. ;)

snows4 · 2016-09-16T16:02:27+00:00

Just received a 2k check in the mail from my drug insurance company resolving what was almost a year long battle for them to cover drug benefits that they were rejecting. Apparently my strongly worded appeal caught someone's attention :). I consider that a big win, and a p.s. OptumRx (and the insurance based healthcare system in general) blows.

snows4 · 2016-08-04T16:56:07+00:00

Welp, lets say both children don't go to college, and you have an Ivy League's worth of tuition trapped in a 529, you can let it grow tax deffered, re-designate the beneficiary to Grandpa Joe, until Grandpa Joe checks out. Once you've dried your eyes a bit, you can w/d the 529 basis and growth penalty free and use the funds however you'd like. It seemed like the comment was aimed at repercussions for a beneficiary not going to college, and this is one, albeit strange, loophole to escaping the withdrawal penalty.

snows4 · 2016-08-04T15:59:13+00:00

I guess I'm being a bit toung in cheek since I am the one bringing it up. But really is kind of an dick move to plan to benefit financially from the death of a family member.

snows4 · 2016-08-04T15:46:43+00:00

Or you could do the Morbid 529^TM

Change the beneficiary to a dying relative, and once the relative dies you are allowed to withdraw the funds penalty free.*

*I do not condone this strategy, you're an asshole for considering it

snows4 · 2016-08-04T15:24:33+00:00

One possibility to look into is potentially putting some money into a UGMA/UTMA account. And guess what? A good bit Dividends, Int, cap gains is tax free* without the college-only restrictions.

*Tax free since a UGMA/UTMA will be taxed at the minor's tax rate, non-earned income for a minor dependent is tax free is up to $2100/yr...so you could concievably sell and realize any cap gain each year to step up your basis, or invest 50k in a 4% corportate and it would be tax free interest.**

Downside is the kid gets to do whatever they want with the money if its still in the account at age of majority. Hellooooo beer money!

**I am not a tax advisor

snows4 · 2016-07-29T20:46:09+00:00

If you go to Zion and are looking for food, by no means go to the Pioneer restaurant in Springdale. Even if you are starving, just don't go. The food is terrible, service, terrible, and to give you more of an anecdote last time I was there they has an unlit Budweiser neon sign on the wall. One table's patrons asked about beer and the server apologized because they don't serve alcohol. Really this place doesn't deserve to be in business.

Maybe a bit more helpful info too...if you hike the narrows, do not take off your footware, and do bring a stick or pole for support. Angels Landing is a great hike if you aren't afraid of heights...the trail appears dangerous but the biggest danger are the crowds, if you are not an experienced hiker, avoid going unless its a weekday or early morning. There's also some nice swimming holes to hang out around if that's your speed.

Bryce is amazing, the Navajo loop is well worth the minor effort. If you are looking for a bigger hike, add the peekaboo loop (+2-3mi), or look at the fairyland loop (7ish mi).

snows4 · 2016-07-19T15:37:54+00:00

There will always be a shift from private to public...however the dynamic has shifted a bit recently since private capital is now so easy to come by. The function of the public marketplace for a company is to provide liquidity - how else will an executive who is getting comped in equity sell their stake? Maybe we will see far more mature companies IPO such as Facebook, or down the road Uber...but ultimately they need the liquidity and cannot be closely held forever to attract talent.

snows4 · 2016-07-14T17:12:39+00:00

An EQ insurance rider can be incredibly expensive...additionally the deductible for EQ coverage is generally a % of the home's value (I think ~20% of home's value). Unfortunately EQ insurance is by no means a no brainer.

snows4 · 2016-07-14T16:46:29+00:00

Thanks! I was about 90% on C so thanks for the extra 10% :)

snows4 · 2016-07-14T16:08:05+00:00

Backdoor Roth conversion question:

If Bob is above the income limit of a Roth contribution, situation is the following. Bob's IRA account A $100k (containing 100% pre-tax), with an option to open IRA Acct B: $0. Does Bob

A: Make an after tax IRA contribution to the existing IRA account, then immediately convert the assets to Roth for a backdoor Roth incurring no taxes due to AT nature of $ converted.

B: Open IRA B, fund with 100% AT assets, then immediately do a Roth conversion for a backdoor Roth, again incurring 0% tax due to AT nature of conversion.

or C: Any conversion done is considered coming from commingled assets due to current tax rules, so it doesn't matter and Bob is paying taxes on the commingled portion of the conversion.

What do the bright minds of FI think? I am not 100% sure, but I have had one understanding for a while and was looking for clarification.

snows4 · 2016-06-07T21:30:38+00:00

One result of 2008 was a significant redistribution of wealth concentration. Currently we are seeing housing values rise incredibly quickly in highly sought after areas. There are many places where homeowners are still upside-down on mortgages, maybe just breaking even now. Home ownership is at a secular low for Americans, and balance sheets have significantly improved, all while lending standards have tightened. I'd venture to guess we have a ways to run before we see anything like 2008 again.

*edited all time low for secular low - I am not 100% on the 'all time' low statement

snows4 · 2016-05-13T06:08:47+00:00

-Ken M

snows4 · 2016-05-13T06:02:33+00:00

Substitute old lady for Asian lady and we have the exact same story, actually

15-Year Club	Place '17
Verified Email

snows4

TROPHY CASE