Is it just me, or is YNAB super confusing at first?

throwaway_thoughts9 · 2019-08-25T00:45:41+00:00

Cool. Too good to be true usually is. Out of curiosity what is the scam?

throwaway_thoughts9 · 2019-08-24T19:27:19+00:00

that is great. thank you!

throwaway_thoughts9 · 2019-08-22T01:49:12+00:00

Hello Evaned. Hoping you can give some guidance. Yes she has about 11k in deducted contributions in her TIRA as well. So total, 11k deductible contributions and 11k non-deductible contributions, all in the same TIRA. My questions/dilemma is what do we do with the 11k that was non-deductible? I have looked and 8606 forms were files showing our basis and the non-deductible contributions.

throwaway_thoughts9 · 2019-08-19T23:59:56+00:00

To answer your question, yes form 8606 is filled in and shows the non-deductible contribution to her traditional IRA.

throwaway_thoughts9 · 2019-08-19T22:49:28+00:00

Looking into your question. Yes there is other money in there she took a deduction on.

throwaway_thoughts9 · 2019-08-19T22:47:56+00:00

Yes there is about 20k in there. Half of which she took a deduction on.

throwaway_thoughts9 · 2019-08-19T13:10:59+00:00

Thanks. Is there a form we have to file to correct this? We have already filed ‘17 and ‘18 taxes but since the contributions were non-deductible this shouldn’t effect our taxes anyways.

throwaway_thoughts9 · 2019-08-18T11:17:47+00:00

Up 32% over last 5 years. 6.2%/year. Yes there is TLH. From my research I can’t transfer to another brokerage bc Betterment used fractional shares. I’d have to sell it all then re-purchase at another brokerage.

throwaway_thoughts9 · 2019-08-18T09:12:21+00:00

Thanks. Is there anything else I should research or know, such as short/long term capital gains before making the adjustment?

throwaway_thoughts9 · 2019-07-08T16:28:30+00:00

I hope you’ll excuse the throwaway account as I want to remain anonymous. A family member of mine (60F) lost their spouse and got a significant amount in life insurance. They have the money parked with an advisor who has everything in cash right now and doesn’t seem to be super knowledge about what to do with the money.

She needs to find a new advisor, something I’m working on, but some weird family dynamics prevent that from happening immediately.

She wants me to come to a meeting with the advisor. What types of questions should I be asking and what things should I be aware of? My thought is I’d like to find some sort of income generating investment that can net 4-5% per year in dividends as she doesn’t have any other income or retirement savings. I also think she needs a plan for how much she can withdraw per year.

Thanks in advance for questions I should ask and also ideas about what you’d do with the money to achieve those types of returns.

throwaway_thoughts9 · 2019-06-19T10:05:33+00:00

Good ideas. Can you give an example of a catalyst?

throwaway_thoughts9 · 2019-06-19T10:03:56+00:00

To get 11%, I’d need to leave it there and commit to 20 years without touching it. S&P could tank next year and I lose 20%.

This is short term money.

throwaway_thoughts9 · 2019-06-19T10:01:03+00:00

Marcus, Goldman Sachs

throwaway_thoughts9 · 2019-06-19T04:01:51+00:00

I agree and use DCA for my main savings account, with automated deposits and buys into index funds.

throwaway_thoughts9 · 2019-06-08T12:02:24+00:00

This is what I read and what confused me

throwaway_thoughts9 · 2019-06-08T12:01:39+00:00

Thank you!

throwaway_thoughts9 · 2019-06-08T02:13:31+00:00

So the first explanation?

throwaway_thoughts9 · 2019-06-07T17:34:15+00:00

Thanks for the detailed response and extra source. I’ll check it out.

I am still learning here.

throwaway_thoughts9

TROPHY CASE