I just obtained a letter saying the fresh new department away from training is actually today giving waivers for people who in earlier times did not have an eligible mortgage, but that struggled to obtain a being qualified boss and get made 120 on-day costs which they today might be entitled to PSLF
Dr. Jim Dahle:
But if I just took the tax losses I have now and used them for $3,000 a year against my ordinary income, I’d have enough to live to be 200 or 400 or 500 years old. No problem. I got plenty of tax losses.
I just acquired a page stating the brand new agency off training is actually today providing waivers for folks who in earlier times didn’t have an enthusiastic qualified mortgage, however, who have struggled to obtain a being qualified boss and have produced 120 on-big date costs that they now would-be entitled to PSLF
Dr. Jim Dahle:
So, the idea of accumulating more of them is not particularly appealing to me, not something I would pay a large fee for. For example, let’s say, this advisor wants to charge you 1% a year to do this. Say you have a $5 million portfolio. That’s $50,000 a year. How is he possibly ever going to recoup that cost by providing enough value with tax-loss harvesting? He’s not, especially when there’s the risk of underperformance that comes from taking on the uncompensated risk that comes with individual stocks.
I simply gotten a letter claiming the institution from training is today offering waivers for those who prior to now didn’t have a keen qualified mortgage, but that have struggled to obtain a qualifying employer and just have made 120 on-go out costs that they now could well be eligible for PSLF
Dr. Jim Dahle:
There are some things out there where people are basically trying to have you kind of build an index fund yourself, that might make some sense at some very low fee, but most of the people trying to sell you actively managed accounts or active managed services end up providing you what my parents had when I first became financially literate and help them look at their investments.
I simply acquired a letter claiming the fresh new company of education are today providing waivers for those who in earlier times did not have an qualified mortgage, however, with worked for a qualifying manager and get produced 120 on-big date money which they now might possibly be qualified to receive PSLF
And you can what was one? Which had been particular schmuck underperforming the marketplace if you find yourself battery charging her or him 2% a year, and you can churning the brand new account eg upset. Luckily it absolutely was inside a sep IRA. It wasn’t from inside the a taxable account resulting in massive taxes, nevertheless would’ve been whether or not it was a student in a nonexempt account. Due to the fact he was acting that he could time the market, he could come across carries. And he wouldn’t.
I simply gotten a page saying this new institution off degree are now giving waivers for those who in earlier times did not have an enthusiastic eligible loan, however, that worked for a qualifying boss as well as have generated 120 on-date costs that they now could well be entitled to PSLF
Dr. Jim Dahle:
All I had to do was show him what his money would’ve done if I put it in a total stock market index fund, and all of a sudden, my parents didn’t want to be with that advisor anymore.
I simply gotten a page claiming new department out of studies is today giving waivers if you in earlier times did not have a keen eligible financing, but that have worked for a qualifying boss and get generated 120 on-go out payments that they today will be qualified to receive PSLF
Dr. Jim Dahle:
And I suspect you’re in a similar situation. I don’t have enough specifics. You didn’t leave enough information, but those are my general thoughts on actively managed accounts. So, it’s very hard for there to be more value provided than the fee that is being charged on those, especially if their big claim is that they’re going to make it back on tax-loss harvesting.
I just gotten a page saying new agencies of education is actually now giving waivers for individuals who in earlier times did not have a keen eligible mortgage, however, who’ve worked for a being qualified employer and just have produced 120 on-date money that they today was entitled to PSLF
Dr. Jim Dahle:
You can tax loss harvest with broadly diversified index funds and ETFs, no problem. I assure you the market will go down from time to time and you’ll be able to tax loss harvest. I hope that’s helpful to you.
I recently obtained a page stating the fresh new agencies away from studies try now providing waivers for folks who previously did not have an enthusiastic eligible loan, however, that have worked for a being qualified workplace and get made 120 on-big date payments which they now might be entitled to PSLF
Dr. Jim Dahle:
I brought Andrew, my partner in crime from studentloanadvice on the podcast to help us with our next couple of questions. Thanks, Andrew, for being with us today.
I just received a page claiming the fresh institution regarding knowledge are now offering waivers for individuals who prior to now did not have an enthusiastic eligible financing, however, who possess worked for a being qualified company and also have made 120 have a peek at this site on-time payments that they today is entitled to PSLF
Pete:
Hi, Jim, it’s Pete calling from Boston. I’m a urologist in academic practice. And I have a question about PSLF.
Pete:
The question I have for you is, have you heard about this? What do you know? And more specifically to my situation, I graduated from medical school in 2003 so I was frankly too old for the program, but I have made 120 qualifying payments and work for a qualifying employer.
