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Messages - Jim

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I need a Tax Accountant to Help Me With ____ / Re: 401k - "Age 55 Rule"?
« on: February 21, 2018, 06:58:41 AM »

I haven't had to be in this specific situation, but I looked on the IRS website and found this helpful link (  If you scroll down on the table until the heading of "Separation from Service" it says as long as you turn 55 that year, you can withdraw from a 401k without the additional tax penalty.

I believe this has to be from your current employer's 401k and not from a 401k a couple of jobs ago (if you didn't roll it over).

I don't know how the mechanics of it work on your form 1040, but that is what I found.  Hopefully this was helpful in some way.

Investing / Re: VFIAX | VTSAX
« on: February 21, 2018, 06:46:09 AM »
I'm not 100% sure why everyone loves VTSAX so much.  I think a big part of it has to be with people reading JL Collins' stock series ( and his recommendation of VTSAX.

I personally use the ETF (VTI) in my taxable brokerage, but VFIAX in my Roth IRA's.

For me, JL Collins' stock series solidified my understanding and acceptance of index funds and if others new to the series did the same it could skew the recommendation in the FI community.

How to Become a Wealthy Accountant / Re: Apparently not?
« on: February 21, 2018, 06:35:47 AM »
I agree with Nords on the fact tax preparation will be a commodity business with filing prices racing towards zero.  That being said, I think the niche of tax planning and advice for individuals and businesses could be a place where you could make a side hustle or a full-time business from.

Of course, your customers would probably want you to also file their returns so you would still have the seasonality of it. 

General Discussion / Re: Before-Tax or After-Tax Contributions
« on: February 20, 2018, 09:06:24 PM »
I would need to know the balances of how much you have in pre-tax accounts now that are subject to Required Minimum Distributions (RMDs) and when you plan on retiring.  I still voted for a split approach mostly because I think you will be subject to some RMDs eventually and could get hit with a higher tax bill down the stretch unless you plan on getting rid of the rental when you retire.

I like the thought you are putting into it, but fear we would need a little more information.

Bloggers Helping Bloggers / Re: Favorite tools for writing
« on: January 27, 2018, 11:20:27 AM »
I'll have to check out LibreOffice to see if it would be an improvement than writing directly in WordPress as I do now.
One day WordPress will give you the 404 or the "server error" message on 2000 words of your best draft post ever...

Good point Nords.  Always best to keep a backup. I was wondering if you or Clackapedia had any suggestions on a good plugin for social media sharing?  It seems to me that social media is a more important presence to have nowadays than SEO. I would prefer something free as I am just trying to build an audience at this point, but if there is an inexpensive paid for plugin that is hands down the best, then I would go that route as well. Thanks in advance for any help you can provide.

Bloggers Helping Bloggers / Re: Favorite tools for writing
« on: January 17, 2018, 01:22:20 PM »
Nords thanks for all the great writing tips.  I recently started a blog primarily to chronicle my journey to FI, but I'm really enjoying the creative outlet to write as well.  Kind of funny since I never scored well in English class and am an accountant by day.

I'll have to check out LibreOffice to see if it would be an improvement than writing directly in WordPress as I do now.

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