We’re barely into 2020 and already my goal to simplify our family’s financial picture is being challenged. I find myself tempted to open another bank account. What?!? Bank error in your favor, collect $600 Let’s back up a bit. Last year when we were preparing for our family DIY study abroad to Spain, we opened… Continue reading Are Banking Signup Bonuses Worth It?
[As with anything tax-related, see my disclaimers.] In 2013, I found out that I’d contributed too much to my Roth IRA during 2012. Our income had exceeded the income phase-out for Roth IRA contributions. It wasn’t until I was doing my taxes that I found out that I’d contributed too much during 2012. Time to… Continue reading Contributing Too Much To A Roth IRA
[As with anything tax-related, see my disclaimers.] The other day at work, I was discussing the advantages of converting traditional IRA money into a Roth IRA with a coworker. I’ve always been of the opinion that if my marginal rate is the same today as in the future when I withdraw the money, then it… Continue reading Should I Convert to a Roth IRA?
Fees make me grumpy. Given how much financial providers attempt to hide or obscure fees, I’m guessing I’m not the only one. Fees bite into my future retirement and are paid regardless of whether my investments do well or not. Investment Fees The first fee in my 401(k) plan that makes me grumpy is the… Continue reading 401(k) Fee Drag
As with anything investment-related, see my disclaimers. This post deserves an additional disclaimer. Investing involves risk. Trading stock options is extremely risky and you can lose 100% of your investment. My story is provided solely for entertainment purposes and in no way do I recommend doing what I did. Or anything else, for that matter.… Continue reading Option(al) Income
When my grandmother passed away a decade ago, all of her grandchildren received a small inheritance. Instead of spending that money on some toy or experience, I opened a 529 college savings account in our oldest child’s name. At the time we had only two daughters, and I had significantly fewer gray hairs. Fast forward… Continue reading Dividing a 529 Six Ways
Hi. My name is David, and I have a problem. I have too many accounts. More than 53 different checking, savings, brokerage, credit cards, store cards, and retirement accounts. Spread across more than 16 different providers. Seems a little excessive, doesn’t it? How did this happen? As I look back across the accounts smeared across… Continue reading Joyless Banking Accounts
Like many Americans, I accumulated student loan debt during college. While it’s been years since I was in school and the balance has diminished, it’s still non-zero today. I could have dispatched them years ago but didn’t. However, now I’m giving some serious thought to it in order to simplify my personal finances. Comparing Interest… Continue reading Should I Pay Off My Student Loan Debt Early?
We’re nearing the end of week 11 of our family’s 12-week study abroad in Spain. One of the challenges we worked through was the logistics of getting a family of eight from city to city, all without renting a car. As I planned and bought each segment of our travel, I felt like I was… Continue reading Ticket to Ride: Spain!
During our family’s study abroad in Spain, one logistic I took on was getting cash for minor purchases that couldn’t be done via credit card. My goal was to avoid paying excessive foreign exchange or ATM fees. P2P Exchange Rates – 0% The first stop on the road to cash was a little unexpected. After… Continue reading Avoid Foreign ATM Fees Using Fidelity’s Cash Management Account