taxable brokerage account - mutual fund vs ETF

[emtpmd]

I'm an emergency physician, age 46, and plan to go part time or retire around age 55. No debt. No kids.

The mess with Vanguard's LTCG distribution...

[emtpmd]

Thanks to all for the advice.

[emtpmd]

I buy that. I'm just trying to squeeze every dime I can out of each dollar.

[emtpmd]

I don't have enough cash lying around to put $6000 into my back door Roth and my wife's back door Roth at the beginning of the year. Everything is invested,...

[emtpmd]

The plan documents say something about being self-employed as an exception to ERISA:

This Plan is exempt from the trust requirements under...

[emtpmd]

I'm setting up my solo 401k through ETrade.

Do I have to appoint a trustee for the plan? Can it be me? It looks like I have the option not...

[emtpmd]

I'm setting up my solo 401k through ETrade.

Do I have to appoint a trustee for the plan? Can it be me? It looks like I have the option...

[emtpmd]

Sounds like this might be more trouble than it’s worth, particularly if I’m only making around $15k per year....

[emtpmd]

Is there a maximum employer contribution or percentage relative to income that is allowed with a solo 401k?

[emtpmd]

I don't expect that I'm going to have more than $30k income from my side business. Most of that I have to spend on insurance and other business expenses,...

[emtpmd]

I contribute $19500 to my 401K and my employer contributes the rest to reach the $57000 maximum in 2020 (and 2021).

If I start my solo 401K,...

[emtpmd]

OMD is operational medical director. Medical supervision for EMS practice. The EMTs and paramedics by law must practice under the supervision of a physician,...

[emtpmd]

Seeking opinions regarding Solo 401k.

I have a new side business as an OMD for a local fire department, beginning 1/1/21. I already have...

[emtpmd]

I read Ric Edelman’s Truth About Money book when I was still in college and it gave me a good foundation to understand the importance of starting retirement...

[emtpmd]

I have two disability policies. One is a personal policy I bought in residency and increased the benefit over the years to replace about $12K per month....

[emtpmd]

The premium and benefit increases slightly each year. I suppose that I can self insure, though most of our assets are tied up in retirement accounts and...

[emtpmd]

Looking for opinions on Long Term Care Insurance.

Wife and I both have LTCI policies through Northwestern Mutual. Combined premium around...

[emtpmd]

Agree that it seems ridiculous. From what the Fidelity guy said, it sounds like it is a requirement of the plan.

[emtpmd]

Two months ago, I set up a Rollover IRA account at Vanguard. I transferred an IRA from SSG into it, an IRA from SunTrust into it, and a third IRA from...

[emtpmd]

I'm sure that if I did my due diligence, I'm almost certainly losing money in the farm, at least this year. I don't meticulously expense everything to...

[emtpmd]

I'll have to check on the fees with Fidelity. I know that the 401k has a management fee, but it's pretty minimal (somewhere around $10 per year). I...

[emtpmd]

It's actually not as bad as I'm making it out to be. It's technically complicated because the 401k has a certain number of set investments available,...

[emtpmd]

I suppose if that is the case, then I might as well roll my IRA into my employer 401k at Fidelity. It would force me to switch to those Fidelity funds,...

[emtpmd]

I recently opened an IRA at Vanguard and rolled all of my other IRAs into it. I'm also W2 employed, so I have a Fidelity 401k into which I'm maximizing...

[emtpmd]

I did run the numbers with a mortgage agent recently, and it seemed like the savings would be minimal now that I'm within 5 years of paying it off....

[emtpmd]

The day I never order another CT might be happiest day of my life. It will be on par with "truth day", which might become "truth week"...

[emtpmd]

I was mainly fishing for votes as to whether I should pay off my debts now/faster versus more post-tax investing. I'm generally uncomfortable with debt,...

[emtpmd]

The CBP was a major part of my ability to sock away a bunch of money early in my career. As I recall, there were some restrictions as far as IRS rules...

[emtpmd]

Thanks for the suggestions.

The balances that I noted are all attributable to my blood and sweat. My wife has around $100K in retirement...

[emtpmd]

Looking for some opinions:

I'm an employed emergency physician. I average around $330K per year. I've been in practice 11 years and plan...

[emtpmd]

I’m planning to leave my taxable investments at Vanguard, but will probably roll the IRA to my 401K at Fidelity just so I can create the pathway for...

[emtpmd]

So here I am rolling over my IRA with Vanguard to my 401K at Fidelity, and I had planned to just stick with the Vanguard ETFs since I'll be contributing...

[emtpmd]

I think that I've convinced myself that I should split off around half of that $120K and stuff it in a CD or money market account. I already have a money...

[emtpmd]

I have a similar disposition. I was trained by my father to simply prepare for the worst, and not be surprised when it happens. It’s a mixed blessing...

[emtpmd]

I haven’t really seen a savings account or CD or anything in between that pays more than 1% as of late. Perhaps I should peel off half of my allocation...

[emtpmd]

When the market took a dive a couple of months ago, my emergency fund barely lost any value. Around 5% or so. I’d assume that’s thanks to being primarily...

[emtpmd]

I’m curious what folks recommend as the best way to structure an emergency fund. I currently have $120K allocated to an account at Betterment. The portfolio...

[emtpmd]

I just rolled my IRA that was being managed by my advisor (no longer) into a rollover IRA at Vanguard a couple of weeks ago. Are there any timing restrictions...

[emtpmd]

All of my wife’s retirement savings is inside her 403B plan. I’d assume that I can go ahead and at least start a back door Roth in her name?

[emtpmd]

I didn’t know about the age 55 rule. That’s helpful. Thanks....

[emtpmd]

It’s a pretty good idea. I don’t like the options that I have in my employer’s 401K, but if I meet whatever qualifications are necessary for a solo...

[emtpmd]

My farming income is extremely small. Less than $10K. I don’t know what the limits are for an individual 401K based on that. Should I also be concerned...

[emtpmd]

My situation is this: I’m an emergency physician employed through a large contract management corporation at my rural hospital. It’s my only job,...

[emtpmd]

I did read what you wrote. I don't understand what you're suggesting by doing nothing.

I do understand that rolling my IRA to my 401K has...

[emtpmd]

OK, so maybe my logic is flawed, but what is to stop me from opening a dozen IRAs and contributing $6000 per year to all of them?

I haven't...

[emtpmd]

Forgive the stupidity. I'm pretty sure I know the answer to this, but I'm going to ask anyways.

I'm an employed physician for a large corporate...

[emtpmd]

Thanks. I do understand the general differences between the two, but I’ve been trying to drill down to the specific differences or advantages within...

[emtpmd]

Thanks very much for the advice....

[emtpmd]

Are there clear advantages to Vanguard Mutual Funds versus Vanguard ETFs?

Here is my situation: I've recently opened an account with Vanguard,...

[emtpmd]

Thanks. I'm just trying to figure out the best way to approach this with him. He's been supportive of me taking over my money in the past, so I think...

[emtpmd]

The IRA that is being managed by my Big Poppa Doc colleague has around $900K in it currently, after losing about 10% since March. The other IRA that I...

[emtpmd]

For the last 11 years, I've worked at the same hospital since graduating residency, and I've known my financial advisor/partner for that long. He started...

[emtpmd]

Thanks to everyone for the feedback. I'm definitely ready to get rid of my financial advisor, which is a little bit painful because he is one of my partners,...

[emtpmd]

1. No management fees except those associated with the mutual funds, etc.

2. The 401K is a Fidelity account, and all the investment options...

[emtpmd]

My democratic ER group was forced to sell to a contract management group a couple of years ago. Now my retirement contributions are tied to their company...