401(k) plan review – Fidelity BrokerageLink

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Maxed out my k, Now what?! Airline Pilot Forums Airline Pilot Forums was designed to be a community where working airline bogleheads fidelity brokeragelink options can share ideas and information about the aviation field. In the forum you will find information about major and regional airline carriers, career training, interview and job seeker help, finance, and living the airline pilot lifestyle.

Delta 2nd year pilot here. Do I have any other options for tax sheltered investing of funds for the remainder of this year? Traditional IRA, for one. There are limits to deductibility of IRAs. I haven't been able to deduct any IRA contribution for years.

Consult your tax advisor and if you don't have one, get one. Get used to paying taxes. Lots and lots of taxes. Save money in your own name and not in a k or IRA. Im curious bogleheads fidelity brokeragelink options much you have total in all your retirement funds up to this point? Also pick up a book or two on the subject so you can go to the advisors office with a bogleheads fidelity brokeragelink options of knowledge.

Just because you can't deduct your traditional IRA contributions doesn't mean you can't still make them. Only gains would be taxed when you begin to make distributions as the principle has already been taxed. Not as good as a Roth, but it's better than nothing when you hit the Roth income limit. Also, if your spouse doesn't work or has low income, the contributions to her traditional IRA you make on her behalf may be completely or partially tax deductible.

Seems I recall a pilot up in NYC bogleheads fidelity brokeragelink options a concert promotion investment group that will take you money and invest it This brings up another point.

What is the real benefit of an IRA in our tax brackets? Rhetorical because everybody has a different plan. A few years back I converted to ROTHs, and I am thinking that was a bad idea now, because in retirement I will definitely be making less than now and in a lower bracket.

So I paid the taxes at peak earnings. Once you pay off debt, you have no deductions available to you. I hate the IRS. Good idea on the spouse though, but that runs out at some point as well. I just don't have those numbers at hand.

He's in Rio now. Saw the story on American Greed. Since you maxed out your contributions, do the companys contributions continue? Roths eventually in my opinion will be bogleheads fidelity brokeragelink options on interest bogleheads fidelity brokeragelink options, to much money IRS feels they are leaving on the table. Yes, eventually even your spouse's traditional contributions are no longer tax-deductible. So, your tax bracket in retirement is irrelevant with respect to a Roth.

Your Roth conversion decision was most likely a good one for that reason alone, especially if you were reasonably young. The traditional was conceived with the blanket assumption bogleheads fidelity brokeragelink options retirees would always be in a lower bracket than when they were working. Maybe - but maybe not. Plus, you still have to pay taxes on both the principle AND the gains assuming you got a deduction for the contributions at whatever your rate is in retirement.

Look into a "backdoor Roth IRA". This bogleheads fidelity brokeragelink options eliminates the income restriction associated with a Roth IRA. What is bogleheads fidelity brokeragelink options is that at tax time you do not take the Traditional IRA deduction and you fill out the form to show you did a Traditional to Roth conversion.

You can do one for yourself, one for your spouse, child etc. You may also look into college savings plans as a way to keep Uncle Sams hands of your money as well. Here is a little more about bogleheads fidelity brokeragelink options backdoor Roth IRA. You can google this, or what I bogleheads fidelity brokeragelink options recommend, is calling Fidelity and ask them the bogleheads fidelity brokeragelink options as they will be able to help you define what the contributions are.

If you haven't already done so and you are in the HSA medical bogleheads fidelity brokeragelink options, make sure you max out the contributions there too. The money goes in tax free and you have investment options. Extradited back to the US in late Was suppose to go to trial on fraud charges early this year.

He can't do an HSA Only catch with backdoor roth is bogleheads fidelity brokeragelink options you have any previous deducted money in IRAs rollover k's, TSP or deducted IRAs then when you go to put the "backdoor" money into the Roth, the deducted money goes with it in proportion effectively forcing you to bogleheads fidelity brokeragelink options tax on it to do the transfer. Oh, and take the significant other someplace fun. Or give it bogleheads fidelity brokeragelink options a worthy charity.

I'd venture a guess that if you hit the IRA max for yearly Defferred Comp that the company's contributions will stop. Has a bigger impact on your overall return than you'd expect. I was hired in March of When you reach the c limit of 53K the company contributions do not stop.

It is then paid as ordinary income. Yes, the company contributions continue. Once you hit that limit, the company pays the money directly to you as personal income. This is extremely helpful. Easiest way around this is start doing it now; don't convert previously deducted funds into a Roth. I never dive into that possibly very confusing area of converting previously deducted funds. I keep my Traditional at a zero balance and basically use it as my middle man for the conversion.

John Utsick recently pleaded guilty to a single count of fraud. No real tax advantage to this. And there are thousands of reasons this could be a terrible idea. But for some people, if you are already going to have to find a place for kids to live during college, especially if you have multiples, it can make sense to just buy the place they will live in.

There are also complex ways that rental property can essentially make its way into being your own vacation property in a different location without you having to pain taxes on the appreciation of the original property, even though you might have depreciated it for many years.

College financial aid doesn't look at real estate as an asset. So you spend all your money on real estate, get financial aid for your kids college, then sell it when they graduate. Also gold and guns, they are not bogleheads fidelity brokeragelink options of course, but may be harder to bogleheads fidelity brokeragelink options in the long term. If Hillary gets in, I wouldn't be surprised to see them go after k's with much higher taxes on withdrawal. The government will eventually run out of options bogleheads fidelity brokeragelink options borrowing more money, and come after the citizens with higher taxes.

Probably better to invest it somewhere else, or pay your house note down. I second what a previous poster mentioned. Start a company based on a hobby. I think it would be easier if your hobby was like restoring old cars to sell or??? There are many tax advantages for business owners.

With all of the really complicated suggestions, I'm surprised no one has mentioned the simplest possibility. Once you've maxed out your tax advantaged accounts, invest in a normal taxable account.

Also a good point, Tummy. Buying and holding doesn't immediately trigger a taxable event, but eventually the government, in all it's wisdom will get it's hands on it. However, I agree with you. Once I've maxed out all tax advantaged accounts, the majority of my wealth building is moved into a regular old brokerage.

Check the details, my numbers might be slightly off, but thats where I do my taxable and Roths. There are a few stipulations as to which accounts you must have to take advantage, but it's well worth the hassle. Just finished my last kid through college. Bought a little foreclosure 3 miles from campus in Cost of ownership was about half, including the remodel.

Consult your tax professionals. It worked for me. Sent from my bogleheads fidelity brokeragelink options using Tapatalk. Yes, I agree with taxable account investing too. But rather than trading not a game anyone can reliably win in my own assessmentI don't think you can go wrong with "hands off" investing into stocks and bonds.

Betterment makes it a piece of cake there are probably other similar vendorsand the money is very liquid if you bogleheads fidelity brokeragelink options to withdraw it. To resist the temptation to trade, I find it helpful to remember that whenever I think it's smart to buy something, someone else is happily selling at the same price That's why I don't bogleheads fidelity brokeragelink options trade and hopefully never will - too much stress and high likelihood I'll still not beat the market.

Lots of great advice on here.

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As you get ready to open your plan account, decide which investment strategy will work best for you. Our plans offer options for every type of investor.

Open a Account. Our Age-Based Strategy includes portfolios that are managed according to the beneficiary's birth year with the asset allocation automatically becoming more conservative as the beneficiary nears college age. Your beneficiary's birth year will help determine the Age-Based portfolio in which you'll invest. Fidelity may use its proprietary asset allocation research to make active asset allocation decisions in the Age-Based portfolios that invest in Fidelity Funds and Multi-Firm Funds.

Such active asset allocation decisions may better enable the portfolios to take advantage of short- to medium-term opportunities and market conditions.

Although an active asset allocation strategy is designed to add value, there is no guarantee any value will be added, and the strategy may result in losses to the Portfolios. Please review a plan fact kit for more information on Portfolio asset allocation. For investors who prefer to manage their own asset allocations, our Custom Strategy provides the flexibility you'll need to build your own customized approach to college saving and investing.

This strategy allows you to create an investment mix from portfolios that fall into four categories:. Learn more about the Age-Based Strategy. Get started with education savings. Choosing an Investment Portfolio. If you or the designated beneficiary is not a New Hampshire, Massachusetts, Delaware, or Arizona resident, you may want to consider, before investing, whether your state or the beneficiary's home state offers its residents a plan with alternate state tax advantages or other state benefits such as financial aid, scholarship funds and protection from creditors.

Units of the portfolios are municipal securities and may be subject to market volatility and fluctuation. You could lose money by investing in this money market investment option. An investment in this money market investment option is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The underlying fund's sponsor has no legal obligation to provide financial support to the underlying fund, and you should not expect that the sponsor will provide financial support to the underlying fund at any time.

Please carefully consider the plan's investment objectives, risks, charges, and expenses before investing. Read it carefully before you invest or send money. Skip to Main Content. Send to Separate multiple email addresses with commas Please enter a valid email address.

Your email address Please enter a valid email address. Build Your Own Investment Mix. Although the underlying deposits are eligible for FDIC insurance, subject to applicable federal deposit insurance limits, the units of the Bank Deposit Portfolio are not insured or guaranteed by the FDIC or any other government agency.

You are responsible for monitoring the total amount of your assets on deposit at the depository bank, including amounts held directly at the depository bank. Please see your Fact Kit for more details. The asset allocation strategy you choose for any Custom Strategy should be based on your investment objectives, risk tolerance, time horizon, and other factors you determine to be important. Different asset allocations offer different balances between risk and potential returns.

Generally, the greater the stock allocation, the greater the potential for long-term returns and the greater the risk of volatility, especially over the short term.

Call a college savings representative Chat with a representative. More information Get started with education savings Understand what it's like to have an account, from choosing a plan to withdrawing funds. Choosing an Investment Portfolio Learn more about picking the right investment strategy that fits your needs.

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