Do you have to pay tax in your retirement or savings accounts in the US even if you are not drawing the income or capital gains out of the the account, ie you are still saving for your retirement in your pension account for example
I wish I had seen this live. RUclips has cropped out parts. Example, timestamp 22:45 where you're talking about small cap funds in a taxable account, it just skips over whatever you said. It's great information though. I just recently found your channel and I love all the info. Thanks and keep up the great work!
I fell into that trap. Had an old 401k in a good investment and my current employer 401k options were crap, high expense and not good funds. I decided I ddint want to have to keep track of this old account so I rolled it over into a rollover IRA in vanguard. $60k in pretax dollars with a lot of growth now in an IRA. Then I learned about backdoor Roth. My income had grown so I could contribute to Roth directly but then I realized due to the pro-rata rule if I tried to backdoor Roth $6k with that $60k pre-tax IRA I would just eat a big tax loss and it woujldnt benefit me. So now I have to choose between letting it sit in that IRA and the problem just "growing". Or moving it to a crappy 401k fund with above 1% expense ratio. So far I've decided to just keep the IRA and skip the backdoor Roth contributions. I think its the right call but it doesn't feel very good.
If your workplace HSA is poor, and like mine requires a minimum amount held uninvested along with some ugly fees, then I recommend talking to your HR about using an alternative HSA. I was able to get my employer to contribute to a Fidelity HSA. I had to create it myself, and I had to provide them with the account numbers, but now my HSA contributions go automatically pre-tax to the same broker where I have all of my non-work investments. I’ve also gotten my HR director to include some Vanguard funds, which dramatically dropped our average expense ratio. Talk to your HR!
Hi, Rob. Out of curiosity, if you are investing in VTIAX, why do you add a separate Emerging Markets fund if VTIAX has 25% in emerging markets? Are you wanting to tilt a bit more toward EM?
Thanks, Rob I enjoyed this one. You have a great, straight-ahead. teaching style and demeanor. You're a natural teacher. Can you direct me to any reference source that addresses your reference to IRA rollovers having creditor protections? First I've heard that applies to rollovers and not just "qualified" accounts. My understanding is protections are largely state-dependent. I also have not rolled over as "stable value funds" are only allowed by regulation in 401ks, etc., as a bond fund alternative.
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Happy to answer any questions, and please share any other tips or tools you have to help us simplify our investments.
Do you have to pay tax in your retirement or savings accounts in the US even if you are not drawing the income or capital gains out of the the account, ie you are still saving for your retirement in your pension account for example
@@fredatlas4396 No, not in our retirement accounts. Regular brokerage accounts, yes
Rob, I like the way you present information as if you're just talking to a friend. Thank you sir!
I wish I had seen this live. RUclips has cropped out parts. Example, timestamp 22:45 where you're talking about small cap funds in a taxable account, it just skips over whatever you said. It's great information though. I just recently found your channel and I love all the info. Thanks and keep up the great work!
We are at similar place in life. Always watch and enjoy every video...including this one. Thanks.
I fell into that trap. Had an old 401k in a good investment and my current employer 401k options were crap, high expense and not good funds. I decided I ddint want to have to keep track of this old account so I rolled it over into a rollover IRA in vanguard. $60k in pretax dollars with a lot of growth now in an IRA. Then I learned about backdoor Roth. My income had grown so I could contribute to Roth directly but then I realized due to the pro-rata rule if I tried to backdoor Roth $6k with that $60k pre-tax IRA I would just eat a big tax loss and it woujldnt benefit me.
So now I have to choose between letting it sit in that IRA and the problem just "growing". Or moving it to a crappy 401k fund with above 1% expense ratio. So far I've decided to just keep the IRA and skip the backdoor Roth contributions. I think its the right call but it doesn't feel very good.
If your workplace HSA is poor, and like mine requires a minimum amount held uninvested along with some ugly fees, then I recommend talking to your HR about using an alternative HSA. I was able to get my employer to contribute to a Fidelity HSA. I had to create it myself, and I had to provide them with the account numbers, but now my HSA contributions go automatically pre-tax to the same broker where I have all of my non-work investments. I’ve also gotten my HR director to include some Vanguard funds, which dramatically dropped our average expense ratio. Talk to your HR!
Great advice and I’ve been learning a lot since finding your channel! The quality of this info will definitely lead to your channel blowing up!
Hi, Rob. Out of curiosity, if you are investing in VTIAX, why do you add a separate Emerging Markets fund if VTIAX has 25% in emerging markets? Are you wanting to tilt a bit more toward EM?
Thanks, Rob I enjoyed this one. You have a great, straight-ahead. teaching style and demeanor. You're a natural teacher. Can you direct me to any reference source that addresses your reference to IRA rollovers having creditor protections? First I've heard that applies to rollovers and not just "qualified" accounts. My understanding is protections are largely state-dependent. I also have not rolled over as "stable value funds" are only allowed by regulation in 401ks, etc., as a bond fund alternative.
www.investopedia.com/ask/answers/07/seizing-savings.asp
M1 Finance is really innovatively cool. Love it! Thanks for discussing their automation feature.
Does Rob mention which small cap value fund(s) he considers or has chosen?
I didn’t know that there is a difference between rollover IRA and a IRA concerning eresa protection. It differs with each state as well ?
I don't know that it does. My guess, and I stress guess, is that it's covered by federal law.
It looks like VTI is an all everything fund