Author Topic: New To Investing Thread  (Read 327366 times)

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Offline 420seriouscat69

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Re: New To Investing Thread
« Reply #975 on: January 07, 2015, 11:12:01 AM »
UGH!!! I sent two old checks from former companies to fidelity to be rolled over. One of them went through fine (the small check) the other was sent back to my old address cause there was something wrong with the form. I called fidelity and they tell me to call my former employer and cancel that check and order a new one. I do this and my old company tells me that fidelity has already cashed the check and they can't send me a new one. No one knows what's going on or where it is. Just 5K out there floating around and no ones wants to take account for it.  :curse:
This is seriously starting to worry me. Fidelity allegedly sent back the check to me, but to my old address, and I never received it. UOP doesn't want to cut a new check, cause their records show fidelity cashed it, but it's not in my account. Fidelity is still telling me they sent it back to me, but I've never received it. This is unreal.

Offline michigancat

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Re: New To Investing Thread
« Reply #976 on: January 07, 2015, 11:16:19 AM »
UGH!!! I sent two old checks from former companies to fidelity to be rolled over. One of them went through fine (the small check) the other was sent back to my old address cause there was something wrong with the form. I called fidelity and they tell me to call my former employer and cancel that check and order a new one. I do this and my old company tells me that fidelity has already cashed the check and they can't send me a new one. No one knows what's going on or where it is. Just 5K out there floating around and no ones wants to take account for it.  :curse:
This is seriously starting to worry me. Fidelity allegedly sent back the check to me, but to my old address, and I never received it. UOP doesn't want to cut a new check, cause their records show fidelity cashed it, but it's not in my account. Fidelity is still telling me they sent it back to me, but I've never received it. This is unreal.

yeah, I had a check get lost and eventually the people that sent the check realized it got lost and it's back in my original account. It's rough ridin' dumbfounding that companies like this have to send paper checks in 2015. I guess they do it to discourage people from moving their money but holy eff.

Offline 420seriouscat69

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Re: New To Investing Thread
« Reply #977 on: January 07, 2015, 11:21:03 AM »
It's unbelievable that they can't just wire it party-to-party. Now i'm just loost, wondering where that money is and who's going to take care of it. I'm sure it will workout, but i'm getting angrier by the day.

Offline Kat Kid

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Offline sys

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Re: New To Investing Thread
« Reply #979 on: February 27, 2015, 05:47:12 PM »
"experienced commanders will simply be smeared and will actually go to the meat."

Offline Tobias

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Re: New To Investing Thread
« Reply #980 on: February 27, 2015, 05:55:50 PM »
unreal

Offline sys

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Re: New To Investing Thread
« Reply #981 on: April 12, 2015, 03:44:42 PM »
https://www.motifinvesting.com/offers/offer_150trade

i'm going to open an account in the near future.  i expect it's a pretty janky service, and you have to be careful not to rebalance when they prompt you to.  but for a $100 incentive, i'll give it a try.  if the tax reporting isn't mumped up, i'll probably keep the account.  it may help me overcome some investing emotional hangups i have.
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Offline ben ji

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Re: New To Investing Thread
« Reply #982 on: April 20, 2015, 08:49:31 PM »
Alright guyz, school me in HSA's. I read some wikipedia/random google articles but I know gE can do a better job.

Question

1. My employer does not offer a HSA, can I still open one? I have fidelity accounts for my Roth IRA/Rollover IRA but after a brief search of their website it looks like they don't offer HSA's.


I'm a single bro in my 20's so I don't have many medical expenses. I mainly want to sock away some money because I know that at some point I or my future family will have medical expenses.

Offline hemmy

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Re: New To Investing Thread
« Reply #983 on: April 20, 2015, 09:01:14 PM »
http://www.optumbank.com/About%20Health%20Savings%20Accounts/HSA%20Eligibility - We used to use Optum Bank as our HSA provider at work. They don't have many investment options (or didn't at the time, like 20 or so mutual funds) and they charge a yearly fee (which was covered by my employer). We now use fidelity, so they DO over HSA's but they might require it be through an employer. Optum let's you create an HSA for yourself.

Offline WillieWatanabe

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Re: New To Investing Thread
« Reply #984 on: April 20, 2015, 09:22:57 PM »
It's unbelievable that they can't just wire it party-to-party. Now i'm just loost, wondering where that money is and who's going to take care of it. I'm sure it will workout, but i'm getting angrier by the day.

update?
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Offline ben ji

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Re: New To Investing Thread
« Reply #985 on: April 20, 2015, 09:32:59 PM »
Did some more research and according to the IRS website

Quote
No permission or authorization from the IRS is necessary to establish an HSA. You set up an HSA with a trustee. A qualified HSA trustee can be a bank, an insurance company, or anyone already approved by the IRS to be a trustee of individual retirement arrangements (IRAs) or Archer MSAs. The HSA can be established through a trustee that is different from your health plan provider.

Unfortunately it does not look like Fidelity offers individual HSA plans. Does anyone have a HSA as an individual and not through their work?

Offline wetwillie

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Re: New To Investing Thread
« Reply #986 on: April 20, 2015, 09:36:33 PM »
Any bank in kc will open one for you.  This commerce bank link is an example of what you want https://www.commercebank.com/personal/saving/health-savings-account.asp
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Offline star seed 7

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Re: New To Investing Thread
« Reply #987 on: April 20, 2015, 09:40:51 PM »
you just open a new savings account and designate it as an hsa.  one in manhattan (community first) made me do $50 to start, but the one in topeka (credit union) didn't.  if you want to invest it or something then i have no clue
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Offline ben ji

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Re: New To Investing Thread
« Reply #988 on: April 20, 2015, 10:00:05 PM »
Also, tell me what you think about this.

Currently I have about 1/3 of my retirement in a Roth IRA and 2/3 in a regular IRA I rolled over from an old 401k.

My work offers a regular 401k and a Roth 401k. I currently make the maximum yearly contribution to the Roth IRA so I opted for the regular 401k and contribute just over what I need to to get the employer match(Its puny but I get a PENSION?!? What? Puny too tho).

In regards to Taxes it is currently advantageous to go with the Roth 401k right now based on my current/future tax bracket projections but I decided against it because I like the idea of having both tax deferred and non tax deferred options when I retire.

My current thinking is that I can live my basic life off the 401k/SS(lol)/Pension and use the tax free(in retirement) money from my Roth IRA for big expenses (New car/Travel/Fishing boat/etc etc).

Thoughts?

 

Offline ben ji

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Re: New To Investing Thread
« Reply #989 on: April 20, 2015, 10:03:47 PM »
Any bank in kc will open one for you.  This commerce bank link is an example of what you want https://www.commercebank.com/personal/saving/health-savings-account.asp

you just open a new savings account and designate it as an hsa.  one in manhattan (community first) made me do $50 to start, but the one in topeka (credit union) didn't.  if you want to invest it or something then i have no clue

Thanks guyz. I have accounts at 2 banks in KC but from cruising their website it looks like they do not offer HSA's. I'll have to give them a call and find out if they offer them or if I need to ditch one of them and find another bank.

Offline sys

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Re: New To Investing Thread
« Reply #990 on: April 20, 2015, 10:16:40 PM »
Also, tell me what you think about this.

Currently I have about 1/3 of my retirement in a Roth IRA and 2/3 in a regular IRA I rolled over from an old 401k.

My work offers a regular 401k and a Roth 401k. I currently make the maximum yearly contribution to the Roth IRA so I opted for the regular 401k and contribute just over what I need to to get the employer match(Its puny but I get a PENSION?!? What? Puny too tho).

In regards to Taxes it is currently advantageous to go with the Roth 401k right now based on my current/future tax bracket projections but I decided against it because I like the idea of having both tax deferred and non tax deferred options when I retire.

My current thinking is that I can live my basic life off the 401k/SS(lol)/Pension and use the tax free(in retirement) money from my Roth IRA for big expenses (New car/Travel/Fishing boat/etc etc).

Thoughts?

it's just a matter of taxes.  so without knowing your brackets, bracket expectations and future earning/retirement plans, i don't think anyone can really advise.

the one important point with the traditional 401k is that you can convert it to a roth, but you can't go the other way.  so if you can control your income in the year(s) you convert, you can kill the gov. with no taxes on the 401k and then no to v. low taxes on the conversion.
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Offline slobber

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Re: New To Investing Thread
« Reply #991 on: April 20, 2015, 10:17:27 PM »
My pension is $286.42 / month when I turn 65. I think I can retire on that. Thoughts?


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Offline michigancat

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Re: New To Investing Thread
« Reply #992 on: April 20, 2015, 10:19:18 PM »
Wife has a Roth ira and is going back to school. She talked to someone in her class that was taking money out of her retirement account to pay for school rather than take out private loans. Good/bad idea? (Without knowing my tax bracket situation of course.)

Offline sys

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Re: New To Investing Thread
« Reply #993 on: April 20, 2015, 10:20:40 PM »
Wife has a Roth ira and is going back to school. She talked to someone in her class that was taking money out of her retirement account to pay for school rather than take out private loans. Good/bad idea? (Without knowing my tax bracket situation of course.)

horrible idea.
"experienced commanders will simply be smeared and will actually go to the meat."

Offline slobber

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Re: New To Investing Thread
« Reply #994 on: April 20, 2015, 10:20:43 PM »

Also, tell me what you think about this.

Currently I have about 1/3 of my retirement in a Roth IRA and 2/3 in a regular IRA I rolled over from an old 401k.

My work offers a regular 401k and a Roth 401k. I currently make the maximum yearly contribution to the Roth IRA so I opted for the regular 401k and contribute just over what I need to to get the employer match(Its puny but I get a PENSION?!? What? Puny too tho).

In regards to Taxes it is currently advantageous to go with the Roth 401k right now based on my current/future tax bracket projections but I decided against it because I like the idea of having both tax deferred and non tax deferred options when I retire.

My current thinking is that I can live my basic life off the 401k/SS(lol)/Pension and use the tax free(in retirement) money from my Roth IRA for big expenses (New car/Travel/Fishing boat/etc etc).

Thoughts?

it's just a matter of taxes.  so without knowing your brackets, bracket expectations and future earning/retirement plans, i don't think anyone can really advise.

the one important point with the traditional 401k is that you can convert it to a roth, but you can't go the other way.  so if you can control your income in the year(s) you convert, you can kill the gov. with no taxes on the 401k and then no to v. low taxes on the conversion.
yes, and you can't really project future tax codes/ brackets. I am more heavily in Roth accounts. About 2/3 vs. 1/3. The conversion thing is not a guaranteed option in the future. That is one of my assumptions.


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Offline michigancat

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Re: New To Investing Thread
« Reply #995 on: April 20, 2015, 10:21:45 PM »
The private loans have a pretty high interest rate if that matters

Offline slobber

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New To Investing Thread
« Reply #996 on: April 20, 2015, 10:22:10 PM »
Wife has a Roth ira and is going back to school. She talked to someone in her class that was taking money out of her retirement account to pay for school rather than take out private loans. Good/bad idea? (Without knowing my tax bracket situation of course.)

horrible idea.
sys and I seem to agree on most financial stuff. At least on how we think. 


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Offline slobber

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Re: New To Investing Thread
« Reply #997 on: April 20, 2015, 10:23:33 PM »

The private loans have a pretty high interest rate if that matters
the default would be higher rate


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Re: New To Investing Thread
« Reply #998 on: April 20, 2015, 10:24:53 PM »
Wife has a Roth ira and is going back to school. She talked to someone in her class that was taking money out of her retirement account to pay for school rather than take out private loans. Good/bad idea? (Without knowing my tax bracket situation of course.)

i took out of my ira instead of doing private loans.  i don't really think it was a good decision, but not really a huge deal either way for me.
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Offline michigancat

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Re: New To Investing Thread
« Reply #999 on: April 20, 2015, 10:25:35 PM »
Yeah it doesn't look like you can do that without a penalty so not sure why someone suggested it to her

http://www.investopedia.com/ask/answers/102714/how-can-you-borrow-roth-ira.asp