Mustachian People Problems (just for fun)

[RWD]

Oof. Still important lessons though.

[Sandi_k]

@ChpBstrd - I would break the CD, and reinvest it elsewhere. The "lost" interest at 2% will quickly be made up in a new instrument.

[dividendman]

My Costco chocoaltes keep melting and getting blobby because it's 77 degrees in my house. (I haven't had trouble with other chocolates, something about these in particular...)

I also have the AC set to 78. I keep chocolates in the fridge or freezer. The freezer is good because then when I want some it portion controls itself and I don't eat a whole container.

[ChpBstrd]

@ChpBstrd - I would break the CD, and reinvest it elsewhere. The "lost" interest at 2% will quickly be made up in a new instrument.

Good call. If time allows I think I'll do so.

Lesson for kiddo: Never leave money sitting.

[Alternatepriorities]

@ChpBstrd - I would break the CD, and reinvest it elsewhere. The "lost" interest at 2% will quickly be made up in a new instrument.

Good call. If time allows I think I'll do so.

Lesson for kiddo: Never leave money sitting.

My Vangaurd money market is at 5.29%

10 months at that instead of 2% will more than make up the loss of cashing out the CD without 2 months of 2%.

[markbike528CBX]

Letter from IRS
You paid taxes ($25), you will get refund.  Refund plus 0.33 interest has been received.

Letter says:
AGI Line 11
Me 94,835 IRS 94,835  nice to know we agree.

Taxable Income Line 15
Me: 66,854  IRS 67,135   Difference probably from ignoring Line 13, the Qualified biz deduction (Sec199A) from 8995 ln15.

IRS said: Total Tax Line 24
Me: 0.00 (I had 39, minus 14 for Foreign tax credit) so $25
IRS 0.00

MPP1: I can't reconcile how they got their number.  I used the Schedule D worksheet, they _may_ have used the Capital Gains and Qualified Dividends worksheet.
MPP2: I have to report the 33cent interest as income this year.
MPP3  I've gotten to 59.5 so I'm withdrawing from tIRA (ordinary income),  so I'll never have MPP 1 again.
MPP4: No one in real life can understand that this is in any way a problem.

[secondcor521]

Letter from IRS
You paid taxes ($25), you will get refund.  Refund plus 0.33 interest has been received.

Letter says:
AGI Line 11
Me 94,835 IRS 94,835  nice to know we agree.

Taxable Income Line 15
Me: 66,854  IRS 67,135   Difference probably from ignoring Line 13, the Qualified biz deduction (Sec199A) from 8995 ln15.

IRS said: Total Tax Line 24
Me: 0.00 (I had 39, minus 14 for Foreign tax credit) so $25
IRS 0.00

MPP1: I can't reconcile how they got their number.  I used the Schedule D worksheet, they _may_ have used the Capital Gains and Qualified Dividends worksheet.
MPP2: I have to report the 33cent interest as income this year.
MPP3  I've gotten to 59.5 so I'm withdrawing from tIRA (ordinary income),  so I'll never have MPP 1 again.
MPP4: No one in real life can understand that this is in any way a problem.

MPP1 - I doubt this is the source of the issue.
MPP2 - No you won't, unless you get more interest from the IRS this year, which is extremely unlikely.  33 cents rounds down to zero and you're expected to round each individual payer on Schedule B.
MPP3 - How is never having a problem again a problem?
MPP4 - Fair.  I see two problems - (1) not understanding how the IRS came up with numbers, and (2) having to report IRS interest which I find bothersome.

As an aside, I'm puzzled how the IRS has a higher taxable income yet a lower tax due.  Hard to imagine how that could be.  Also also, I really doubt the IRS would ignore the Section 199A adjustment; it's part of the tax law and they know how to handle it.  Maybe you've got the taxable income numbers backwards, the IRS gave you the 199A adjustment because you reported it on 8995 but not on line 13, and that's how they got to zero tax due?  Just spitballing, but you've got me curious now.

[markbike528CBX]

Letter from IRS
You paid taxes ($25), you will get refund.  Refund plus 0.33 interest has been received.

Letter says:
AGI Line 11
Me 94,835 IRS 94,835  nice to know we agree.

Taxable Income Line 15
Me: 66,854  IRS 67,135   Difference probably from ignoring Line 13, the Qualified biz deduction (Sec199A) from 8995 ln15.

IRS said: Total Tax Line 24
Me: 0.00 (I had 39, minus 14 for Foreign tax credit) so $25
IRS 0.00

MPP1: I can't reconcile how they got their number.  I used the Schedule D worksheet, they _may_ have used the Capital Gains and Qualified Dividends worksheet.
MPP2: I have to report the 33cent interest as income this year.
MPP3  I've gotten to 59.5 so I'm withdrawing from tIRA (ordinary income),  so I'll never have MPP 1 again.
MPP4: No one in real life can understand that this is in any way a problem.

MPP1 - I doubt this is the source of the issue.
MPP2 - No you won't, unless you get more interest from the IRS this year, which is extremely unlikely.  33 cents rounds down to zero and you're expected to round each individual payer on Schedule B.
MPP3 - How is never having a problem again a problem?
MPP4 - Fair.  I see two problems - (1) not understanding how the IRS came up with numbers, and (2) having to report IRS interest which I find bothersome.

As an aside, I'm puzzled how the IRS has a higher taxable income yet a lower tax due.  Hard to imagine how that could be.  Also also, I really doubt the IRS would ignore the Section 199A adjustment; it's part of the tax law and they know how to handle it.  Maybe you've got the taxable income numbers backwards, the IRS gave you the 199A adjustment because you reported it on 8995 but not on line 13, and that's how they got to zero tax due?  Just spitballing, but you've got me curious now.

MPP1 I have it spreadsheeted both ways.  yep error likely on my end.   The difference between My Taxable and IRS taxable is very close ($1 off) to the value for 199A.
MPP2 I'll have other interest income that will add up to over $10.  And the IRS said it is reportable :-)
MPP3  My problem is that i'll not get a 0 tax bill ever again, MPP oh woe is me , I'll have to pay _some_ Federal Tax.
MPP4  See... I've got you curious.   Earworms take many forms.   For some is it a Brittany Spears tune, for mustachians it is a 25 buck discrepancy on someone else's taxes.

[secondcor521]

Letter from IRS
You paid taxes ($25), you will get refund.  Refund plus 0.33 interest has been received.

Letter says:
AGI Line 11
Me 94,835 IRS 94,835  nice to know we agree.

Taxable Income Line 15
Me: 66,854  IRS 67,135   Difference probably from ignoring Line 13, the Qualified biz deduction (Sec199A) from 8995 ln15.

IRS said: Total Tax Line 24
Me: 0.00 (I had 39, minus 14 for Foreign tax credit) so $25
IRS 0.00

MPP1: I can't reconcile how they got their number.  I used the Schedule D worksheet, they _may_ have used the Capital Gains and Qualified Dividends worksheet.
MPP2: I have to report the 33cent interest as income this year.
MPP3  I've gotten to 59.5 so I'm withdrawing from tIRA (ordinary income),  so I'll never have MPP 1 again.
MPP4: No one in real life can understand that this is in any way a problem.

MPP1 - I doubt this is the source of the issue.
MPP2 - No you won't, unless you get more interest from the IRS this year, which is extremely unlikely.  33 cents rounds down to zero and you're expected to round each individual payer on Schedule B.
MPP3 - How is never having a problem again a problem?
MPP4 - Fair.  I see two problems - (1) not understanding how the IRS came up with numbers, and (2) having to report IRS interest which I find bothersome.

As an aside, I'm puzzled how the IRS has a higher taxable income yet a lower tax due.  Hard to imagine how that could be.  Also also, I really doubt the IRS would ignore the Section 199A adjustment; it's part of the tax law and they know how to handle it.  Maybe you've got the taxable income numbers backwards, the IRS gave you the 199A adjustment because you reported it on 8995 but not on line 13, and that's how they got to zero tax due?  Just spitballing, but you've got me curious now.

MPP1 I have it spreadsheeted both ways.  yep error likely on my end.   The difference between My Taxable and IRS taxable is very close ($1 off) to the value for 199A.
MPP2 I'll have other interest income that will add up to over $10.  And the IRS said it is reportable :-)
MPP3  My problem is that i'll not get a 0 tax bill ever again, MPP oh woe is me , I'll have to pay _some_ Federal Tax.
MPP4  See... I've got you curious.   Earworms take many forms.   For some is it a Brittany Spears tune, for mustachians it is a 25 buck discrepancy on someone else's taxes.

1 - I agree the error is likely on your end.  What I can't reconcile in my head is that the IRS would come up with a *higher* taxable income due to 199A.  Did you submit 8995 with your tax return?  Did you put a 199A amount on line 13 of your 1040?  Who, in your opinion, "ignored" line 13, you or the IRS?

2 - We may be arguing semantics here.  Yes, the IRS is correct that 33 cents is reportable.  But read the section on "Rounding" in the 1040 instructions, and you'll see that 33 cents rounds to zero.  Look at the instructions for Schedule B, and you'll see that you can report each payer individually.  So if you want to be absolutely proper, you should report "US Treasury" and "$0" on a line on your Schedule B.  Most tax preparers I know wouldn't bother.

3 - Ah.  Probably closer to optimal to pay some taxes in retirement each year rather than have $0 years early and $big years later.  At least that's the conclusion I've come to with my situation.

4 - Maybe this is my MPP now ;-)

[crocheted_stache]

I parked the car in the street last weekend to free up the driveway for another use. Our many miles of transportation in the week since then have included no car trips. We reluctantly did a too-short errand by car this afternoon (how hot, slow, and dull!) and put it back in the driveway, lest anyone conclude our car was abandoned.

Strictly speaking, the limit is 72 hours on the street without moving, but all the neighbors know it lives here. It's been here 20 years, which is longer than many of the neighbors have been here. I would say we're safe pushing the limits, but somebody I know once got a bright orange sticker for leaving their car on the street while they were away for a week. Fortunately, I think the stern warning was the extent of the consequences.

[Sibley]

I have absolutely no clue how much money is going to hit my checking account tomorrow for payroll. I'm getting a raise and a bonus on this paycheck, and the payroll person is having a hell of time this week. The payroll company has messed up the withholdings for the bonus two different ways, plus something happened to the 401k contribution on the regular salary portion so more is being withheld than should be. I've told her that it's fine, just get through this payroll and we'll deal with anything that needs to be fixed on the next one.

So basically, I could get $1500, $5000, or anything in between. Will find out.

Then next paycheck I'm also switching over my direct deposit account to a new bank. I did mention that it's probably a good thing I didn't get that setup in time and she sighed and said "thank goodness". lol

[crocheted_stache]

My parents are and have maybe always been mustachian, but they've never called it that. They've had mustachian people problems from before I was born. When my dad had a summer job as a teen, he didn't always bother to go pick up his paycheck, because he didn't need the money. They piled up in the office for a few weeks at a time until eventually someone prodded him to come get them and deposit them, so they could get the books to balance. Needless to say, the person handing out the checks couldn't comprehend why someone wouldn't want their money right away.

[PhilB]

My parents are and have maybe always been mustachian, but they've never called it that. They've had mustachian people problems from before I was born. When my dad had a summer job as a teen, he didn't always bother to go pick up his paycheck, because he didn't need the money. They piled up in the office for a few weeks at a time until eventually someone prodded him to come get them and deposit them, so they could get the books to balance. Needless to say, the person handing out the checks couldn't comprehend why someone wouldn't want their money right away.

That reminds me of a small company I once audited.  There was a rash of uncashed cheques on the bank reconciliation, all for the same amount.  When I asked the accountant, they rolled their eyes and explained.  The MD's wife did holiday and illness cover on reception and could never be bothered to bank her paycheque.

[406MtnFire]

When is it too ridiculous to have a nice used 2013 lexus (Toyota reliability) for $15k and a 2015 truck for towing a camper?

I want to keep working my job, live part time RV life, and keep saving. Is it a little or a lot ridiculous to have an extra $15k in vehicles when I'm pretty much FI and going to keep working because I enjoy my job and it pays well and want to confine to pad my savings?

[secondcor521]

When is it too ridiculous to have a nice used 2013 lexus (Toyota reliability) for $15k and a 2015 truck for towing a camper?

I want to keep working my job, live part time RV life, and keep saving. Is it a little or a lot ridiculous to have an extra $15k in vehicles when I'm pretty much FI and going to keep working because I enjoy my job and it pays well and want to confine to pad my savings?

I asked a similar question on another board recently.

The way I would approach it is to figure out some reasonable approximation of the annual cost of the thing and then compare that to your prospective withdrawal rate to decide on ridiculousness.

So say you'll buy and keep the Lexus for 10 years (reasonable - my Lexus is 30 years old now and still going strong), and you can sell it in 10 years for $5K.  So that's $10K of depreciation, or $1K per year.  Fuel, maintenance, repairs, insurance, misc (license, registration, etc.) on mine runs $3K per year, so figure your own numbers but for this example use mine.

That's $4K a year.  If you have $400K saved that's a 1% withdrawal rate just for the car.  4% WR is roughly considered sustainable, so you're spending 25% of your sustainable WR on the car.  To a non-car guy like me, that's a fair amount, so I would be cautious.  But if you've saved more, or cars are really important to you, or if you have non-portfolio income, or if you think the depreciation will be less, then it makes it less ridiculous.  Having a job you like and is easy - as you seem to be indicating - also makes it less ridiculous IMO.

Similar analysis can be done on the camper.

HTH.

[curious_george]

I took one of DS3s newest friends in my car yesterday to a kids activity that was going on at church. DS3 and his friend are both 8 years old.

DS3s friend was completely puzzled by the cars manual, crank down windows. He said he has never in his life ridden in a car with manual windows - we had to show him how to roll the window down.

Then after he got the window down it took him a while to figure out how to roll his window back up.

The whole time he was saying things like:

"Wow"

"This is crazy!"

"How in the world does this work!"

"You mean I just turn this knob and the window magically goes up and down?"

He seemed completely amazed by the windows, and was laughing about the window situation the whole car ride, and it was hilarious.

[LennStar]

So pressing a button and they move is not magic? :D

[Radagast]

I thought we had been living an anti-mustachian life of fluff and grandeur (although we are still saving 50% of our gross income, that has about tripled in nominal terms over the past 10 years). However, I recently learned that an acquaintance had earnestly offered my spouse tips for getting federal food assistance within the past year, so we must be doing something right?

[crocheted_stache]

@TreeLeaf That's right up there with the videos you can find of teens being challenged by their parents to dial this number here on a rotary phone.

@Radagast You must be doing Mustachianism right if friends and neighbors are worried about your apparently strained finances!

[LennStar]

I thought we had been living an anti-mustachian life of fluff and grandeur (although we are still saving 50% of our gross income, that has about tripled in nominal terms over the past 10 years). However, I recently learned that an acquaintance had earnestly offered my spouse tips for getting federal food assistance within the past year, so we must be doing something right?

Maybe it's because you are using a bike and as a result not obese they thing you are starving?

[JAYSLOL]

I thought we had been living an anti-mustachian life of fluff and grandeur (although we are still saving 50% of our gross income, that has about tripled in nominal terms over the past 10 years). However, I recently learned that an acquaintance had earnestly offered my spouse tips for getting federal food assistance within the past year, so we must be doing something right?

My wife and I get comments similar to this from friends sometimes, not quite food stamps level, but more along the lines of how to get student loans when my wife was going back to school (nope, all cash flowed), and how to get a business loan when I was thinking about starting my own landscaping company (nope, I could buy everything outright).  It’s a pretty fair assumption, neither of us make a high income, and we definitely don’t look like we have money laying around, but a bunch of years of 25%-45% savings rate does wonders. 

[Sibley]

I have absolutely no clue how much money is going to hit my checking account tomorrow for payroll. I'm getting a raise and a bonus on this paycheck, and the payroll person is having a hell of time this week. The payroll company has messed up the withholdings for the bonus two different ways, plus something happened to the 401k contribution on the regular salary portion so more is being withheld than should be. I've told her that it's fine, just get through this payroll and we'll deal with anything that needs to be fixed on the next one.

So basically, I could get $1500, $5000, or anything in between. Will find out.

Then next paycheck I'm also switching over my direct deposit account to a new bank. I did mention that it's probably a good thing I didn't get that setup in time and she sighed and said "thank goodness". lol

Update: around $2,000 was deposited. The amount withheld for 401k was sky high and I need to adjust the withholding down because I'll hit the max in October otherwise. And just to cap off the payperiod from hell, the payroll company screwed up and didn't release the money the way they were supposed to so paychecks were late. All handled, but so glad I don't actually need that money immediately.

[Sandi_k]

My MPP is that our credit union was hit with a ransomware attack on June 29th. Just in time to hijack my July 1 paycheck. My employer says it was paid out, my CU says it didn't arrive according to the last "snapshot" they had.

So we've had to re-route all of the billpay via DH's Wells Fargo account. Which wasn't linked to our emergency funds at Fidelity. So...we had guests arrive on Friday, and I wanted to at least have paid minimums on the CCd, plus pay the mortgage to avoid a late fee. I have also pulled out cash for groceries.

This will have messed up my spreadsheets! I'll have to see how much was cash taken from *my* savings account and from *my* direct deposit checking account. Plus how much was taken from *my* e-fund. I'll have to refill all the accounts once we finally have restored access. So far, 2+ weeks and counting.

I did swap my DD to Fidelity for August 1, just in case it's still not resolved. Gah!

[Dollar Slice]

My MPP is that our credit union was hit with a ransomware attack on June 29th. Just in time to hijack my July 1 paycheck. My employer says it was paid out, my CU says it didn't arrive according to the last "snapshot" they had.

It's really crazy that they are taking this long to resolve this. Similar to some of these huge healthcare ransomware attacks - if you are a company providing essential services like finance and healthcare, you have to be prepared! You can't withhold medications or kidnap all of your customers' money.

[crocheted_stache]

@Sandi_k yikes! Be glad that yours is the mustachian version of this problem where it's a nuisance to shuffle stuff around for a bit and not that you were relying on that paycheck to clear before you could buy groceries. There are sure to be others who have close calls and shortfalls to contend with.

I hope the credit union gets back on track for itself and its members soon.

[Sandi_k]

@Sandi_k yikes! Be glad that yours is the mustachian version of this problem where it's a nuisance to shuffle stuff around for a bit and not that you were relying on that paycheck to clear before you could buy groceries. There are sure to be others who have close calls and shortfalls to contend with.

I hope the credit union gets back on track for itself and its members soon.

And this is exactly why it's an MPP - we have funds elsewhere. It truly has meant that our plan to consolidate is likely to be dropped.

[LennStar]

My MPP is that our credit union was hit with a ransomware attack on June 29th. Just in time to hijack my July 1 paycheck. My employer says it was paid out, my CU says it didn't arrive according to the last "snapshot" they had.

It's really crazy that they are taking this long to resolve this. Similar to some of these huge healthcare ransomware attacks - if you are a company providing essential services like finance and healthcare, you have to be prepared! You can't withhold medications or kidnap all of your customers' money.

My guess is they have some people typing in every transaction from that day by hand through an interface that was designed in the 80s and which only 2-3 people in the company even knew how to use.

In programming there is nothing worse than "historically grown" except "using the latest framework".

[crocheted_stache]

The vacuum cleaner I rescued from a neighbor's curb on extra trash day is starting to develop problems I don't know how to fix. I've only had it 20 years, so I'm still only halfway through the stack of off-brand bags I bulk bought for it.

The hard part is going to be deciding whether to get it professionally repaired or to replace it. It'll be more money either way than I have into it so far.

If it makes you feel any better, DW and I still use the vacuum cleaner we got as a wedding present 21 years ago.  I've replaced a lot of parts on it over the years--belts, bags, filters, hose, hood, cord--and fabricated/rebuilt others (wheels, hook for the cord), while ignoring other things (the hooks for the rigid tubes).  It still runs great, even if parts are getting harder to find!

It's making a burnt rubber smell, like a belt is dragging rather than spinning, and there's something wrong with the propulsion system, so vacuuming is a literal drag. I really wouldn't mind spending money on a new one if it were lighter, quieter, more effective, more reliable, etc. As usual, money isn't the hold-up. I don't know what kind I want.

Update: I took the vacuum to a shop. They had to steal an intact propulsion part from a donor machine because the parts aren't still available or maybe ordering would have taken too long. (Very common model in its day.) Anyway, it's working again.

Also, I discovered which local vac-n-sew place was willing and able to fix it for a decent price and which one barely listened to my description of the problem before announcing they wanted to overcharge for "a tune-up" and trying to upsell me on a $1300 Miele.

[tygertygertyger]

My mom bought me a Jansport backpack in the 90s. Not one of their fancy ones. I used it a LOT. Over time, the fabric on one of the straps started fraying right next to the shoulder seam... I knew that Jansport has a lifetime warranty, but for a few years I didn't follow through on it.

A month ago I went for it - I contacted them, and it was a tossup whether or not it would be covered by their warranty. Shipping it to them cost me $12.45, which seemed steep for a 35ish year old backpack that might or might not be repaired... If I hadn't felt pressure in the line at the post office, I might have backed out.

Happily it worked out and they replaced both of my backstraps and sent it back to me. Was it worth it?! I am pleased to have it back and in great working condition... but I could have saved myself from moving a broken backpack for 10+ years. Ah well I have a working backpack to tote stuff to the pool.

[ChpBstrd]

My mom bought me a Jansport backpack in the 90s. Not one of their fancy ones. I used it a LOT. Over time, the fabric on one of the straps started fraying right next to the shoulder seam... I knew that Jansport has a lifetime warranty, but for a few years I didn't follow through on it.

A month ago I went for it - I contacted them, and it was a tossup whether or not it would be covered by their warranty. Shipping it to them cost me $12.45, which seemed steep for a 35ish year old backpack that might or might not be repaired... If I hadn't felt pressure in the line at the post office, I might have backed out.

Happily it worked out and they replaced both of my backstraps and sent it back to me. Was it worth it?! I am pleased to have it back and in great working condition... but I could have saved myself from moving a broken backpack for 10+ years. Ah well I have a working backpack to tote stuff to the pool.

Legendary!
Keep the documentation in case these become collectible some day.

[glacio09]

Just had a conversation with my boss about possibly going full remote. My husband already works full remote. Which means the entire lower 48 states could be available to us. And I'm almost frozen with indecision. It's just too many options. The reason this is an MPP is that money is basically no problem. We make about 200k between us with 0 debt (we rent). I even have 900k invested so can very easily just coastFI if I'm happy enough otherwise.

I threw out the idea to my manager and was not expecting to get a "we could probably make that work" back.

[Sibley]

Just had a conversation with my boss about possibly going full remote. My husband already works full remote. Which means the entire lower 48 states could be available to us. And I'm almost frozen with indecision. It's just too many options. The reason this is an MPP is that money is basically no problem. We make about 200k between us with 0 debt (we rent). I even have 900k invested so can very easily just coastFI if I'm happy enough otherwise.

I threw out the idea to my manager and was not expecting to get a "we could probably make that work" back.

No, the entire lower 48 are likely not open to you. There are tax consequences for companies with employees in multiple states. They may limit you to the state, or a handful of states that they already operate in. And you have to factor in 2 companies. Don't make any big moving plans yet.

[reeshau]

Just had a conversation with my boss about possibly going full remote. My husband already works full remote. Which means the entire lower 48 states could be available to us. And I'm almost frozen with indecision. It's just too many options. The reason this is an MPP is that money is basically no problem. We make about 200k between us with 0 debt (we rent). I even have 900k invested so can very easily just coastFI if I'm happy enough otherwise.

I threw out the idea to my manager and was not expecting to get a "we could probably make that work" back.

No, the entire lower 48 are likely not open to you. There are tax consequences for companies with employees in multiple states. They may limit you to the state, or a handful of states that they already operate in. And you have to factor in 2 companies. Don't make any big moving plans yet.

Not to mention healthcare coverage, for similar reasons.  You could choose to opt out of their plans, but then you are still technically eligible for employer-based insurance, so not the ACA.

[glacio09]

Just had a conversation with my boss about possibly going full remote. My husband already works full remote. Which means the entire lower 48 states could be available to us. And I'm almost frozen with indecision. It's just too many options. The reason this is an MPP is that money is basically no problem. We make about 200k between us with 0 debt (we rent). I even have 900k invested so can very easily just coastFI if I'm happy enough otherwise.

I threw out the idea to my manager and was not expecting to get a "we could probably make that work" back.

No, the entire lower 48 are likely not open to you. There are tax consequences for companies with employees in multiple states. They may limit you to the state, or a handful of states that they already operate in. And you have to factor in 2 companies. Don't make any big moving plans yet.

Not to mention healthcare coverage, for similar reasons.  You could choose to opt out of their plans, but then you are still technically eligible for employer-based insurance, so not the ACA.

I work for the rare company that I guarantee has employees in every single state and has people from my  division in most states that I'd want to be in (regulatory people at the very least). But the health care is a very real concern. My husband's job is also something to think about though. Thanks for bringing me back down.

[ixtap]

Just had a conversation with my boss about possibly going full remote. My husband already works full remote. Which means the entire lower 48 states could be available to us. And I'm almost frozen with indecision. It's just too many options. The reason this is an MPP is that money is basically no problem. We make about 200k between us with 0 debt (we rent). I even have 900k invested so can very easily just coastFI if I'm happy enough otherwise.

I threw out the idea to my manager and was not expecting to get a "we could probably make that work" back.

No, the entire lower 48 are likely not open to you. There are tax consequences for companies with employees in multiple states. They may limit you to the state, or a handful of states that they already operate in. And you have to factor in 2 companies. Don't make any big moving plans yet.

Not to mention healthcare coverage, for similar reasons.  You could choose to opt out of their plans, but then you are still technically eligible for employer-based insurance, so not the ACA.

One reason my partner still works is because Megacorp offers a plan that provides coverage in all 50 states and isn't even too hard to get reimbursement for healthcare outside the US. Not at all easy to replicate on the open market!

Our MPP is similar, though. We plan to start cruising in a few weeks and until we have a better idea of how much we enjoy full time without a home dock, we have no idea what our lifestyle will look like a year from now and into the future. We have the world at our feet and just need to decide if we.are exploring it on a sailboat or shorter trips from a home base.

[crocheted_stache]

My credit union moved out of the location nearest my bike route, and the credit union that moved in is charging a couple bucks for using the other guy's ATM card and a couple more bucks for any transaction involving cash. I guess we get to trudge to some other location, because we're not planning to reward this policy.

[Sugaree]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform.  I knew it was going to be bad when I had to go 75% through the enrollment process to see what funds are available.  I'm not impressed.  So, it looks like I'll be moving the Schwab account to Fidelity.  That leaves the problem that my passthrough contributions (i.e. employer contributions) will still to HSABank and will have to be manually moved over to Fidelity.  What a PITA.  I'm also considering moving my IRA to either Fidelity or Vanguard for the simple fact that that would leave only my kid's UTMA at Schwab and he could use my login to handle his own investments without having access to any of my accounts (it's not that I don't trust him, I just don't want him accidentally doing something that would cause tax headaches).

[tygertygertyger]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

[Sugaree]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

https://hsabank.com/HSABank/Members/HSA-Investment-Options

[jrhampt]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

Ugh, same.  This is the first I've heard of this; thanks for the heads up.
https://hsabank.com/HSABank/Members/HSA-Investment-Options

[RWD]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

https://hsabank.com/HSABank/Members/HSA-Investment-Options

Ugh, same.  This is the first I've heard of this; thanks for the heads up.

I saw the e-mail for this too. Not looking forward to dealing with that...

[sonofsven]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

https://hsabank.com/HSABank/Members/HSA-Investment-Options

Ugh, same.  This is the first I've heard of this; thanks for the heads up.

I saw the e-mail for this too. Not looking forward to dealing with that...

I don't know about the HSAbank side, but Fidelity makes it very easy on their end to establish and transfer in an HSA balance.

[Sugaree]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

https://hsabank.com/HSABank/Members/HSA-Investment-Options

Ugh, same.  This is the first I've heard of this; thanks for the heads up.

I saw the e-mail for this too. Not looking forward to dealing with that...

I don't know about the HSAbank side, but Fidelity makes it very easy on their end to establish and transfer in an HSA balance.

Is it normal to take almost a month to make the transfer happen?  I'm being told it would be August 22nd before the Schwab-to-Fidelity move is done.  I did end up deciding to move the IRA to Vanguard and they are saying 7 days. 

[tygertygertyger]

@Sugaree - when you say that you'll need to manually move your passthrough contributions over to Fidelity... you mean that instead of investing through the HSA Invest platform, you can manually move regular contributions to Fidelity to invest them?

I like Schwab and would be happy to keep my account there, but I'm unclear on the implications.

Also, I started to "enroll" to see what their options are, but got scared I won't be able to cancel before I'm officially "enrolled". You said you got 75% through the enrollment process... you were able to cancel before the end?

[Sugaree]

@Sugaree - when you say that you'll need to manually move your passthrough contributions over to Fidelity... you mean that instead of investing through the HSA Invest platform, you can manually move regular contributions to Fidelity to invest them?

I like Schwab and would be happy to keep my account there, but I'm unclear on the implications.

Also, I started to "enroll" to see what their options are, but got scared I won't be able to cancel before I'm officially "enrolled". You said you got 75% through the enrollment process... you were able to cancel before the end?

Yeah, the passthrough contributions will automatically go to HSABank.  There doesn't seem to be any way around that.  It is my understanding that those funds can be transferred to Fidelity instead of being invested with the HSA Invest platform.  I've never done it, so I'm not sure how it's going to work.  I also know that HSABank has been known to close out accounts that get too low and you get stuck with an FSA instead of an HSA and it's a nightmare to unfuck that mess.  Just something to be aware of.  I'd keep at least $100 in one of the HSABank accounts. 

My understanding of what will happen with Schwab is that you can keep your account open, but not add money to it.  My suspicion is that Schwab doesn't really want to deal with HSAs, they just inherited a bunch of them from TDA.  It would be so much easier to grandfather in a bunch of HSAs than to convert them all and deal with all the transfers out.

I was able to cancel before the end. 


Now, I have the MPP that Fidelity isn't syncing up with Empower.  I was hoping to get them all playing nicely together so that my graph wouldn't look weird.

[sonofsven]

My HSA is through HSABank, who announced that they were discontinuing the investment portion through Schwab in favor of an in-house investment platform. 

Uh what?! Sounds like I have a new MPP also!!

https://hsabank.com/HSABank/Members/HSA-Investment-Options

Ugh, same.  This is the first I've heard of this; thanks for the heads up.

I saw the e-mail for this too. Not looking forward to dealing with that...

I don't know about the HSAbank side, but Fidelity makes it very easy on their end to establish and transfer in an HSA balance.

Is it normal to take almost a month to make the transfer happen?  I'm being told it would be August 22nd before the Schwab-to-Fidelity move is done.  I did end up deciding to move the IRA to Vanguard and they are saying 7 days.

It's been a few years but I believe it took about ten days? This was from Lively to Fidelity.

[Sugaree]

@sonofsven, Thanks!



I realized this morning that I made a complete rookie mistake with this whole transfer thing.  I completely missed the fact that this would be an in-kind transfer.  So, now I'm going to have Fidelity and Vanguard accounts holding SWTSX.  Not a huge deal as long as I'm holding them, but there will be a fee when I sell them.  It might have been a better idea to sell before I initiated the transfer.  Or not, depending on what the market does in the next 10-15 days. 

[turketron]

My employer switched to HSA Bank this year and I've had a Fidelity HSA open for a few years now. I've been just letting the cash accrue (vs. investing any of it with HSA Bank) and then periodically transfer it out to Fidelity. I initiate the transfer on the Fidelity side, and it generally takes about 2 weeks. When I spoke with an HSA Bank rep they claimed there's no minimum dollar amount necessary to avoid any fees, but he didn't sound very confident in his response, so I typically withdraw all but $100 just in case they do have any minimum.

[Sugaree]

@turketron the minimum used to be $1000 and people screamed about it.  I'm glad to know that it's easy.  I'm considering letting the cash part from the passthrough accrue on the HSABank side and use that to pay for my kid's braces and throwing the cash I would have been paying for braces into the taxable account.  I know that's not the most efficient way of doing it. 

[rantk81]

Ick.  I've never liked any HSA custodian that was ever attached to an employer-sponsored plan that I have been a part of.  (WEX, PayFlex, BenefitWallet, BenefitAccess, WageEquity, and some others I might be forgetting.)  The often have fees, require quite high minimum amounts in cash (earning near 0% APR) before you can invest, have limited investment options, have cumbersome websites that make it difficult to invest, difficult to manage the amount you want deducted from payroll, etc.

I use Fidelity's HSA, and it is awesome.

Once per year, my employer deposits some funds into the HSA account (the one at the custodian that they selected.  They essentially make a partial HSA contribution on my behalf.)  After this happens, I immediately transfer the funds over to my Fidelity HSA.  I opt to NOT deduct my own HSA contributions directly from payroll, and I instead do my own HSA contribution directly to Fidelity.  I know that I miss out on "avoiding the FICA and Medicare taxes" on the amounts that I am contributing this way.  However, since I have been exceeding the maximum FICA wage base amount anyway, the only extra taxes I'm paying is the 1.45% Medicare tax on the contributed amount.  That's a very small price to pay for having better control over my investments, and not having to deal with the payroll-deduction-mess.