Old Solo 401k, should it be closed?

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Mostly hype. I see use cases but not taking over everything. Maybe creating a virtual representation of your dream house to walk around in for perspective....

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I dropped mine in last week. I highly doubt there will be any retroactive actions. Squeezing a few more roth dollars in before it is cancelled because...

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My state gives me a deduction no matter which 529 I use. We used Nevada because we already had Vanguard accounts at that time. The interface is a bit...

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edit: was reading back and found some crazy similar numbers here.

1/1/2016 - 25k
1/1/2017 - 231k
1/1/2018- 599k
1/1/2019...

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I have a solo 401k that I started about 7 years ago. When I moved to my current job 2 years ago I left all my funds in the solo 401k. Is there any requirement...

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Midwest $20/hr. 7, 4 and 20 months. We started at 15/hr pre-covid and generally gave raises quickly. Had almost no applicants even at 20/hr now and found...

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Stuff like this gets me in the mood to payoff my house. I just find it difficult to pay down a 2.3% loan any faster than I have to.

I am...

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Meaningful impact vs life altering may be two different things for me.

500k would let me be debt free and probably lean FI (no more mortgage,...

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I do an upgrade about every 3 years for phones. Mine is usually because the battery is failing. This time I did break a different feature. Most of the...

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Ok, I am surprised I didn’t see this here already but I’m planning to get the new iphone. Maybe I am crazy but my iphone Xs just isn’t cutting it....

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I'm in the yes category but is 0.5% of my net worth in individual stocks considered "investing in individual stocks"? I've always had the fanciful...

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Your income will definitely tolerate the car purchase if you stick with any of the options you suggest. I generally talk to my residents about keeping...

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I would view it more as taxable account vs retirement space. You can rebalance within the retirement accounts without causing taxable events and as such...

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I have both SelectTech Dumbells 552 and PowerBlocks. I prefer the powerblocks most of the time even though they are ugly and tend to feel weird. The biggest...

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25% of total portfolio. 31% of equities. We are about an 85/15 split equities to stocks.

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While car ownership costs definitely impact your net worth over time, I don't see the problem of purchasing a new car every 10 years. Even a nice used...

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As far as I know there is no limit. They are fdic insured. They can also issue a debit card for the account if you want one....

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I am using M1finance “spend” account for our high yield savings at the moment. I have the plus account that is $125 a year fee but they are still...

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When I went to refinance last time my bank offered me another pathway that they called a "note endorsement". For about 1/3rd the cost of the...

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Of the options you gave I'd probably use VTEB. I don't see anything wrong with having some bonds in your portfolio. When markets dip it sure makes it...

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I believe it is "Golf Swing Tips". You can try this link but I don't know if it will work. https://www.facebook.com/groups/1628986327317784...

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used clubs
used balls
get a range membership if you have time

lostgolfballs.com is where I normally go for balls but lately it...

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Rotating shifts in the ER…I go to bed when I can. No routine other than cleaning up and no tv in the bedroom.

On night shifts I sleep...

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Saving rate 20% is just a good starting point to evaluate your plans. You can start your budget by lopping off 20% and then focus on your expenses. At...

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In my experience the ride quality of the Odyssey is better, firmer with less roll and a more responsive transmission. The other difference between our...

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We have both a 2018 Honda Odyssey and a 2017 Chrysler Pacifica. The Honda has outperformed the Pacifica is most ways except for the middle row collapsing...

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We moved closer to family around that time. I don’t stress as much on savings rate as before (we frequently hit 40-50%). I have also cut back hours....

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1. 2014
2. Friend of mine who was also interested in personal finance bought the WCI book and shared it with me.
3. When I realized at age...

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I think you are on the right track for car selection. I'd imagine a Prius with parallel park assist may be useful in a metro area.

The investment...

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Instead of total net worth you can also look at the total change of net worth. My household net worth was about -350k when I finished residency. It took...

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I assume the goal for investing in a taxable account for most people is to build wealth. I don't quite see the aversion to selling and paying taxes if...

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I have to say from personal experience that letting her cutback is the right thing to do. We are in a very similar position to you. Dual physicians 38...

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I'm EM and I know markets have changed. I've been out 9 years this summer and when I first got out I worked academics for 2 years then moved to Dallas....

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Mother-in-law is a dentist. She gives me Sonicare toothbrushes because she likes the results. That said, if you want a more expensive toothbrush just...

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So maybe I'm crazy but I am using an M1 plus "spend" account. 1% but there is a yearly account fee of $125/yr.

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I will probably take expensive golf trips as long as my body allows. Some of my favorite vacations have been to rent out a beach house for a few weeks...

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https://www.whitecoatinvestor.com/ba...-ira-tutorial/

https://www.physicianonfire.com/backdoor/

https://www.physici...

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My wife is starting what is expected to be a low volume consult service. She'd like to know if anyone has any billing companies that have worked well...

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Your portfolio value over 1 year.

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I'm actually faced with this decision currently. I tend to carry a pretty good chunk of cash, around 100k currently. As it is though my wife and I will...

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I left vanguard for this very reason 5 years ago. I needed to set up a rollover to close out a SEP IRA and it just didn't work with Vanguard. You'd think...

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I think the 2x number just comes from a spot where you have plenty of margin in the budget to save.

While everyone talks about this rule...

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The most we have had was about 130k. We are probably under 100k now but we have always maxed out accounts so it probably doesn’t matter much.

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I know this is an old thread but I would second the COOP recommendation from the amazon link. I have two of these pillows and I just stuff more fill in...

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I checked it out to see what all of the rage was about. The mobile interface is overly simplistic and it sends you notifications of stock movements way...

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Thanks jfoxcpacfp for the added info.

VagabondMD, I will get a small short term gain from the sold fractional shares but it won’t make...

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Thanks, we do file MFJ....

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I have had a robinhood account for play investing on the side. Has less than $8k. I've been thinking about moving it over to Fidelity as they also offer...

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Most people will avoid dividends as you are forced to take the dividend and because you have no choice you must pay the taxes. The idea is that compounding...

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Make sure you get any match from your employer before you max out the solo 401k personal contribution.

Also, posting in the format peds mentions...

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Start a random youtube channel. Not sure what topic but I had fun learning how it all works.

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1. If your new company does not have any high fees I would move it if the options you are considering are just those 2. But personally I would try to...

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Hiring a nanny is a pretty tough process. Hiring a good nanny requires a lot of patience. My wife and I are both physicians. We have had 8 nannies in...

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Welcome to the forum!. I have small children so my 529s are named for the kids. I doubt they will get any needs based assistance anyway.

...

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Similar age here, about 900k behind you. I've already cut back to the minimum hours to be full time with my group. I don't see the point of slugging away...

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I had pretty bad chills about 15 hours after the second pfizer shot. Had myalgias the whole next day. Mild 2/10 headache.
Chills 36 hours after...

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At least for myself each debt is a mental burden, even if it is a small mental burden. The fewer debts I have the less I worry. Overall this probably...

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$17,500. The individual limit is across all plans (does not include 457).

https://www.irs.gov/retirement-plans...etirement-plan

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It just isn’t worth the hassle. Pay it off. The arbitrage on $8900 isn’t worth much.

We have financed our last 3 cars. We got better...

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We have had different levels of service at different times. Nanny, cleaners, lawn crew. It is all just about spending your time the way you want to. We...

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I think it is 100% of income up to the limits. We did this while my wife was a fellow. Below is the IRS page on the limits. If it is her only job just...

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I think you're in a good position to do whatever you want. Just don't force the issue. People buying houses get all caught up in the limited availability...

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Pfizer vaccine on the 15th. Hope I am starting to have some antibodies sitting around.

I definitely posted my shot on social media. I've...

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I would not prioritize solar panels if you plan to rent or sell the house in the near future. I would see the panels as another maintenance expense item...

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We have a Honda Odyssey and really like it. Before that we had a 2016 I think Toyota Highlander. The Highlander did get totaled but my wife walked away...

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We're actually in the process of restoring a family heirloom piano to move into my house. Nothing like a Steinway but it is a Story & Clark made in...

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To the OP,

You should focus on what your financial goals are. Investing in individual stocks is something I have done in the past and do...

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I have a concept 2. No complaints. Had it for 2 years and no problem. I would buy it again because I am not really into classes but I wouldn’t mind...

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I have debated the likelihood of having a RMD problem. My wife and I had several years where we could stash about 119k tax deferred and we did for 3 years....

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Before I even considered med school I wanted to create my own perpetual money making machine. No matter what I did I wanted to save 50% of my income for...

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I have had a pin since someone filed with my ssn. They never tried anything else but it delayed my refund 9 months. I wish the pin was available in all...

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I would be interested to see what those that have retired at or before 45 would say. 45 is my goal for FI. I expect I will work more but that is the current...

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Seems like a good time to hammer down some loans if you have any. Otherwise, open a taxable account and get to work! 6 months won't be a big deal if you...

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I have to be honest. I'd say this is only worth it if you are an enthusiast. My car goes 0-60 in 5.9 seconds. Unless you are really into acceleration...

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Creating a side job just long enough to start a solo 401k at the end of employment should not be very hard to do....

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I understand your reluctance. Mostly since you need to maintain constant oversight I don’t feel it is as much a risk.

I also have some...

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You should take a look at this site. https://comma.ai/

Depending on your make/model you might be able to add on some of the features without...

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Depends on the schedule and life outside of the commute. My physician wife totaled an suv head nodding is Dallas traffic. She was up a lot with a baby...

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Figure out your tax burden.

Figure out your expenses (include future big ticket items).

Everything else should be savings and...

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For whatever reason I do check net worth frequently on Personal Capital. I do a manual calculation once a year that I feel is probably more accurate since...

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No.

If you truly see a future with your girlfriend I don't see any reason why you wouldn't stay local if you plan to do private practice....

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So financial independence is the length of the throw. If you do it right you'll succeed.

Compound interest is the speed at which you spin...

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Welcome to the forum!

I would say 529 vs retirement (taxable) really depends on your actual living expenses and what you want to spend many...

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Avoid car payments and lease payments for as long as you can. I also agree with the travel recommendations. My wife and I had student loans but no car...

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When my 2012 Genesis finally runs aground I will probably get a high end truck. I'm thinking that will be in the next 5 years so I'm hoping that the EV...

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I always like this debate of stocks vs indexing. For the vast majority of people I believe indexing to be superior. Whether it is behavioral or that picking...

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https://usehhaf.org/loan-information...is-calculator/

That is a really simple calculator. I would...

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We had a similar income for awhile in a no income tax state. We had over 100k of 457,401 and 403b space so we put 19k of my wife’s into her roth option....

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I started with a SEP IRA as well. If you miss one year of backdoor Roth contributions it won't be the end of the world. When I realized my mistake I just...

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1. Knock out the private 10% loan first. Just don't buy anything unless it is a necessity. Don't buy cars or cheap if you do.
2. Yes
3. Yes...

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Yeah, funny I’m not sure. If they bring it up again tell her to get rid of her advisor. First the advisor refused to do what they wanted and second...

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I think there are a few other considerations. How far are you driving? Do the corollas have any "unique" features like sounds when you turn,...

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We have generally done 3k to start the account and $500 a month per kid on average. I don't believe in over saving in a 529 account. I'd rather run it...

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Gas ranges generally have a lower dynamic range than electric. The nice part is how fast a gas range responds. If you turn it off, everything cools quickly...

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Things we have not used.

Fireplaces. We have small children and it is hard to justify turning on either a gas or wood fireplace in our climate....

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I think we could hit FI by 45 in a realistic manner. The wife thinks we should at least work until our kids go to college though...so that means work...

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I think the HCOL market makes it hard for many to compare what is "reasonable". I've never been in a HCOL area but I would at least run a budget...

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Emergency fund is about immediate flexibility to me. We do carry about 6 months of cash. There are plenty of scenarios that can occur where you may want...

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...your hospitalist admits a patient that may or may not be assigned to them just so you can go home.

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We live in the same public school system I grew up in. Of my close friends from way back, 3 are docs and 2 are lawyers. I can't help to think that the...