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Re: Standard deduction and housing

Consider bunching of deductions as an option. The following thread discusses a number of the details.

viewtopic.php?f=2&t=152511
by Carl53
Fri Jan 30, 2015 3:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Standard deduction and housing
Replies: 5
Views: 317

Re: Moving up a tax bracket - when to avoid, when to give up

I would suggest not worrying about it if you are just a couple of thousand into the next bracket so as to simplify your situation. If you are going to be completely into the 25% bracket but think you will likely be in the 15% bracket upon retirement, then you need to minimize taxes now. Do a combina...
by Carl53
Wed Jan 28, 2015 5:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Moving up a tax bracket - when to avoid, when to give up
Replies: 26
Views: 2560

Re: Which mortgage to pick?

I don't think Carl's plan works. I'm pretty sure they don't give cash out for taking out a mortgage. Any rebate/credit they give can only go towards fees and 3rd party expenses. So, if you pick the highest rate and it goes over all the fees and expenses... sorry, but thanks for picking the highest ...
by Carl53
Tue Jan 27, 2015 5:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Which mortgage to pick?
Replies: 8
Views: 1272

Re: Able to 'roll over' an OH teacher tax-deferred retiremen

If she ends up taking the pension or if her withdrawal ends up being more than her contributions plus interest, it might end up impacting SS benefits someday. My spouse withdrew her modest contributions and interest earned and rolled it into a VG IRA years ago.
by Carl53
Tue Jan 27, 2015 5:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Able to 'roll over' an OH teacher tax-deferred retirement?
Replies: 7
Views: 570

Re: Is my term life policy quote too high?

I've not used term4sale.com. 12 and 5 years ago, I used intelliquote.com and selectquote.com to purchase term policies. No real difference as far as I could see between the sites. I did find it interesting to play with the input information as to length of term and quantity of coverage to see how th...
by Carl53
Mon Jan 26, 2015 7:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2414

Re: Is my term life policy quote too high?

35 yo m, nonsmoker, elevated BMI, $1 Million 20 year term is $61/month. John Hancock. My wife, 29 yo f, nonsmoker, normal BMI, $2 Million 20 year term for $61/month. John Hancock. She gets 2X as much coverage as mine for the same price, because she is not overweight. Part of it is that she is a wom...
by Carl53
Mon Jan 26, 2015 7:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2414

Re: Drinking water

Reverse osmosis systems can also lower the pH depending upon how your local water supplier treats the water. We installed a RO drinking water system over 15 years ago to please my spouse. It got rid of any chlorine/mineral taste. We were well pleased with it. Changed the filters or media every year ...
by Carl53
Mon Jan 26, 2015 7:21 am
 
Forum: Personal Consumer Issues
Topic: Drinking water
Replies: 45
Views: 3003

Re: Annual Home Maintenance Expenses

On my retirement plan spreadsheet I budgeted $200/month a few years ago and up it for inflation. It now is about 3% of our retirement income outside of Roth conversions. This includes pool maintenance. Most years the expense is less than 1%, but a few years ago there was that $8+k roof replacement.
by Carl53
Sat Jan 24, 2015 7:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Annual Home Maintenance Expenses
Replies: 47
Views: 8110

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

I don't feel like registering to be able to read the article, but I suspect that people in my situation will have a high need for ingenuity. In particular: SA basically owns the article, but I think I can put it on my own website - try this link and let me know if it works: https://financialdave.fi...
by Carl53
Sat Jan 24, 2015 7:47 am
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 75
Views: 6156

Re: Re:

Just a thought. We have a refrigerator that is 30 years old now, and is working fine as I speak. This is unbelivable but true. I do most of my maintenance on my home and have found that if you do it yourself you save big bucks. I am retired at 58 because I fix all most of all my material things. Th...
by Carl53
Sat Jan 24, 2015 6:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Annual Home Maintenance Expenses
Replies: 47
Views: 8110

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

You may be mildly interested to know that I choose to pay all taxes on income from all sources out of my RMD, and put the remainder in a tax-exempt bond fund from which I draw income each month. Don't forget that tax exempt bond earnings get added back into your MAGI when determining how much SS ge...
by Carl53
Sat Jan 24, 2015 6:24 am
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 75
Views: 6156

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

I do think that when one of a couple dies and the other pays taxes at a higher rate it is a significant event. I do not think expenses would go down in that scenario. One of us will still have taxable income but not augmented by RMDs. This is a very valid point. We are trying to convert sufficient ...
by Carl53
Sat Jan 24, 2015 6:13 am
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 75
Views: 6156

Re: Which mortgage to pick?

Which mortgage would you pick? This is a 30yr fixed jumbo loan. Rate APR Payment All Lender Fees & Points 3.250% 3.376% $2,959.40 $10,329.20 3.375% 3.463% $3,006.25 $7,051.60 3.500% 3.553% $3,053.50 $4,073.20 3.625% 3.648% $3,101.15 $1,550.40 3.750% 3.754% $3,149.19 ($1,394.00) 3.875% 3.879% $3...
by Carl53
Sat Jan 24, 2015 6:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Which mortgage to pick?
Replies: 8
Views: 1272

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

Take a look at the wiki on taxation of social security benefits. https://www.bogleheads.org/wiki/Taxation_of_Social_Security_benefits From the tables, you will see taxation at rates of up to 46.25%. Large RMDs could put you in that bad spot. We are converting to the top of the 15% bracket prior to t...
by Carl53
Thu Jan 22, 2015 7:53 pm
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 75
Views: 6156

Re: Free (or REALLY cheap) image hosting?

^^^ Images limits are indeed set at 1200px (width) x 1200px (height). Double-check your URL. I've seen instances where someone got an error, but the URL wasn't the image itself - it was the website containing the image (error). In Firefox, right-click then View Image <-- that's the link to use. I j...
by Carl53
Thu Jan 22, 2015 5:10 pm
 
Forum: Personal Consumer Issues
Topic: Free (or REALLY cheap) image hosting?
Replies: 20
Views: 1431

Re: Where do you shop for groceries?

Aldi's for fruits and vegetables and a few other items. Local discount grocery for great deals on whatever they happen to have. Recently they had Jenni-O ground turkey, 40 oz for $2.99. My spouse likes to buy slightly out of date protein bars for 25 cents. Local grocery for most meats, bread, deli, ...
by Carl53
Thu Jan 22, 2015 7:00 am
 
Forum: Personal Consumer Issues
Topic: Where do you shop for groceries?
Replies: 97
Views: 8029

Re: Free (or REALLY cheap) image hosting?

I just signed up on Imgur with the intent to repair some of the broken images on some of my past posts. I get a could not determine image size message when I try to post on bogleheads. Any suggestions as to how to get around this? I did go into imgur and reduced the maximum dimension to 1200 X 927 p...
by Carl53
Thu Jan 22, 2015 6:28 am
 
Forum: Personal Consumer Issues
Topic: Free (or REALLY cheap) image hosting?
Replies: 20
Views: 1431

Re: What age did you hit $100,000?

Assuming I did this right, this "deflates" $100k in 2014 backwards using the Shiller CPI data. So you'd find the earliest year where you hit the number shown for that year, and that was when you hit today's equivalent of $100k. http://i1180.photobucket.com/albums/x410/dstp2/Shiller%20100k...
by Carl53
Thu Jan 22, 2015 5:01 am
 
Forum: Personal Finance (Not Investing)
Topic: What age did you hit $100,000?
Replies: 68
Views: 5827

Re: What age did you hit $100,000?

I recall putting about all my extra cash into paying down home loans that were I believe always north of 7%. Not counting home equity, age 39.
by Carl53
Wed Jan 21, 2015 6:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: What age did you hit $100,000?
Replies: 68
Views: 5827

Re: Newly retired, seeking wisdom

Another consideration is that maybe your 401k would allow partial conversions to Roth 401ks. 401ks do offer some additional protection from lawsuits that IRAs do not.
by Carl53
Wed Jan 21, 2015 6:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newly retired, seeking wisdom
Replies: 10
Views: 1513

Re: Newly retired, seeking wisdom

3. Does your wife have any income? At least convert up to the top of the 15% federal bracket bracket. If no other income the 15% tops out at $74900 in 2015. Add in $12600 standard deduction and $8000 in exemptions and you could conceivably convert $95500 and not bump above the 15% bracket. Of course...
by Carl53
Wed Jan 21, 2015 6:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newly retired, seeking wisdom
Replies: 10
Views: 1513

Re: 5.6% stable value fund - what allocation?

The recent 2015 S&P contest had Bogleheads predicting an average returns of 4.9% and experts predicting 7.8% in 2015. 5.6% guaranteed and approaching retirement would make me think that 100% allocation might be for me if I had it available.
by Carl53
Sun Jan 18, 2015 1:44 pm
 
Forum: Investing - Theory, News & General
Topic: 5.6% stable value fund - what allocation?
Replies: 12
Views: 947

Re: Decision time- lump sum vs pension

My pension payout choices are as follow: - a non-COLA’ed PHBC guaranteed annuity of 74.5k/yr OR Do you mean PBGC? If so at your age the guarantee (in 2014) would be $42709 for a non-survivor benefit. This number goes up with your age as long as the pension is not taken over by the Pension Benefit G...
by Carl53
Sun Jan 18, 2015 7:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Decision time- lump sum vs pension
Replies: 12
Views: 1099

Re: Inflation-Indexing Wish List

The thresholds for taxation of social security benefits.. but don't hold your breath for this one. The trust fund needs all it can get. Do ordinary income taxes go into the SS Trust Fund? I thought only SS taxes did, and only when there's a surplus (as was designed in with the 1983 rescue), setting...
by Carl53
Fri Jan 16, 2015 7:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Inflation-Indexing Wish List
Replies: 12
Views: 908

Re: POLL: Homeowners Ins cost $/month per $100k home value?

$1503 for $300k replacement cost. We will be lucky to sell this year for $200k as it is tax appraised for $185k. Rate nearly doubled a few years ago do to an as yet unresolved squabble between local officials and fire insurance rating agency that assigned our home to the poorest rating and a fire st...
by Carl53
Mon Jan 12, 2015 8:07 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Homeowners Ins cost $/month per $100k home value?
Replies: 42
Views: 3141

Re: Social Security Question

I believe at 62 she will get 75% of what her PIA is. If you file and suspend at 66, she then could take a spousal. It will be reduced somewhat due to her taking her own SS at 62. It ought to be your PIA/2-her PIA+.75 her PIA.
by Carl53
Sun Jan 11, 2015 1:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Social Security Question
Replies: 2
Views: 394

Re: Is my HVAC (heat pump) really dead?

o You noted it pulls in outside air, indicating a significant leak in the return side of the ducting / air handler. If you're pulling in 2 deg air and trying to heat it up to 70 ... Now this is something nobody has mentioned. And I have to say I don't know how a leak in the return side would make t...
by Carl53
Sun Jan 11, 2015 7:53 am
 
Forum: Personal Consumer Issues
Topic: Is my HVAC (heat pump) really dead?
Replies: 54
Views: 3054

Re: SIMPLE IRA Question

The way I understand it is that an employer can set up a SIMPLE IRA in two ways, 1) such that employee can choose where to invest his/her funds or 2) such that the employee can only choose from one custodian--in this case Franklin Templeton. The employer signed up using the later option, so I am st...
by Carl53
Sun Jan 11, 2015 7:21 am
 
Forum: Personal Finance (Not Investing)
Topic: SIMPLE IRA Question
Replies: 29
Views: 1383

Re: Getting Married - Want advice merging Portfolio & Taxes

Not sure I'd bother moving her 401k to VFORX at VG to reduce the ER from 0.24 to 0.18%. In many states 401ks offer a little more protection to things like bankruptcy than IRAs. Also, if it is moved to VG IRA it probably should be a separate account from whatever she might contribute to in the future...
by Carl53
Fri Jan 09, 2015 6:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Getting Married - Want advice merging Portfolio & Taxes
Replies: 24
Views: 1943

Re: Humidifiers

I have been using one of the misting room units in my basement to add humidity to our home. When you use house water, either softened or straight from the utility you get a white dust. If you use distilled water, water from the reverse osmosis drinking water system or rain water, no white dust is pr...
by Carl53
Fri Jan 09, 2015 2:30 pm
 
Forum: Personal Consumer Issues
Topic: Humidifiers
Replies: 25
Views: 2808

Re: TurboTax Premier now free (for some)

Flagship. I requested a refund from Intuit last week when it was posted here that VG was now offering it for free and I had paid 9.99. Received email from Intuit dated the 5th and notice that my CC showed refund including sales tax when I looked early yesterday.
by Carl53
Thu Jan 08, 2015 4:30 am
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax Premier now free (for some)
Replies: 20
Views: 3927

Re: Was it a mistake to move into PenFed 5-year CDs a year a

Also, PenFed allows you to redeem those CDs early, with a penalty of one year's interest. That can be a valuable option if rates go up, even with the penalty. I like to have a mix in my fixed allocation. It doesn't have to be all bond funds, nor all CDs. No penalty if the account is an IRA and you ...
by Carl53
Mon Jan 05, 2015 8:12 pm
 
Forum: Investing - Theory, News & General
Topic: Was it a mistake to move into PenFed 5-year CDs a year ago?
Replies: 55
Views: 4865

Obviously my postulated means of maximizing the value of a Roth contribution is not finding favor. http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits Tax on excess IRA contributions An excess IRA contribution occurs if you: Contribute more than t...
by Carl53
Mon Jan 05, 2015 7:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Aggressive Roth IRA - 22 yr old
Replies: 28
Views: 2626

Re: Aggressive Roth IRA - 22 yr old

I've not done this with contributions, nor read about anyone doing so. That is why I am hoping that Alan might jump in at some point and state whether this is actually possible but it seems to me that it ought to be. In my case I am doing TIRA to Roth conversions/recharacterizations. There are a num...
by Carl53
Mon Jan 05, 2015 3:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Aggressive Roth IRA - 22 yr old
Replies: 28
Views: 2626

Re: Aggressive Roth IRA - 22 yr old

Your question makes me think that you might open two different Roths with two different investments and contribute $5500 to each and liquidate the poorer performing one prior to tax time similar to what some including myself have done with multiple Roth conversions. If you do this I think I would m...
by Carl53
Mon Jan 05, 2015 1:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Aggressive Roth IRA - 22 yr old
Replies: 28
Views: 2626

Re: Was it a mistake to move into PenFed 5-year CDs a year a

Also, PenFed allows you to redeem those CDs early, with a penalty of one year's interest. That can be a valuable option if rates go up, even with the penalty. I like to have a mix in my fixed allocation. It doesn't have to be all bond funds, nor all CDs. No penalty if the account is an IRA and you ...
by Carl53
Mon Jan 05, 2015 11:00 am
 
Forum: Investing - Theory, News & General
Topic: Was it a mistake to move into PenFed 5-year CDs a year ago?
Replies: 55
Views: 4865

Re: Was it a mistake to move into PenFed 5-year CDs a year a

A year ago, we moved over 20% of our portfolio into PF 5 year 3% CDs. Much of it came out of shorter term bond funds, some out of other maturing CDs. As it turns out it may have reduced our overall ROI by one-half a percentage point, but I am quite satisfied to have had that guaranteed rate.
by Carl53
Mon Jan 05, 2015 10:49 am
 
Forum: Investing - Theory, News & General
Topic: Was it a mistake to move into PenFed 5-year CDs a year ago?
Replies: 55
Views: 4865

Re: Yet another study on why not to buy long term care insur

This never seems to get advertised, but there are other options to LTC insurance. One of the best in my opinion is where the independent living/assisted living/nursing home assumes the actuarial risk for the price of the buy-in. You still have the basic monthly fees for food, housing, etc., but the...
by Carl53
Mon Jan 05, 2015 5:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Yet another study on why not to buy long term care insurance
Replies: 61
Views: 4483

Re: Aggressive Roth IRA - 22 yr old

Your question makes me think that you might open two different Roths with two different investments and contribute $5500 to each and liquidate the poorer performing one prior to tax time similar to what some including myself have done with multiple Roth conversions. Edit: The following example was t...
by Carl53
Mon Jan 05, 2015 5:29 am
 
Forum: Investing - Help with Personal Investments
Topic: Aggressive Roth IRA - 22 yr old
Replies: 28
Views: 2626

Re: 2015 BOGLEHEAD CONTEST REGISTRATION

2105.55
by Carl53
Sun Jan 04, 2015 7:32 pm
 
Forum: Investing - Theory, News & General
Topic: 2015 BOGLEHEAD CONTEST REGISTRATION
Replies: 556
Views: 19743

Re: Multiple Roth Accounts for recharacterization

This year, we recharacterized in December. Two previous go rounds, one was about tax time in April and the other time the recharacterization was in in December. This is the first time four conversions were performed so I decided to cut the period short to reduce the potential extra hassle. Previous ...
by Carl53
Thu Jan 01, 2015 8:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Multiple Roth Accounts for recharacterization
Replies: 7
Views: 377

Re: Vanguard's best fund: Healthcare?

First bought this fund in 1986 and it was most of our VG IRA portfolio for years. Currently it is less than 10% of the portfolio, but often is the best performer. It seems that its performance relative to VHT to be lagging recently.
by Carl53
Thu Jan 01, 2015 7:23 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard's best fund: Healthcare?
Replies: 60
Views: 7025

Re: Multiple Roth Accounts for recharacterization

When the time comes to recharacterize, create a 2nd TIRA to receive the funds. That way you can do a timely conversion for the next year. If you co-mingle the recharacterized funds with other funds in your original TIRA, you will have to abide by rules that require you to wait until the latter of ne...
by Carl53
Thu Jan 01, 2015 7:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Multiple Roth Accounts for recharacterization
Replies: 7
Views: 377

Re: Net Worth Survey, 2015 Edition

AGI also includes Roth conversions.
by Carl53
Thu Jan 01, 2015 2:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Net Worth Survey, 2015 Edition
Replies: 132
Views: 21893

Re: Poll: Gain of total portfolio value from investing

No one is losing money. I am wondering what is their investing strategy for those who picked >300%. Time probably is not only factor. Probably someone who invested heavily in the 1960s and road the big inflation years. Better would have been to know if anyone tracked their inflation adjusted invest...
by Carl53
Thu Jan 01, 2015 7:37 am
 
Forum: Investing - Theory, News & General
Topic: Poll: Gain of total portfolio value from investing
Replies: 37
Views: 3298

Re: Vanguard Turbo Tax prices anounced

gd wrote:By the way, if anyone finds a way to get a refund for having paid for what is now free, let us know.


+1
by Carl53
Tue Dec 30, 2014 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard Turbo Tax prices anounced
Replies: 88
Views: 14221

Re: Roth conversions in excess of normal retirement tax brac

Until your pension starts, you are intending to convert up to the top of the 25% bracket. Given that you expect to be still in the 25% bracket once in your 80's apparently you have a very large TIRA that you prefer to convert. If you really want to do this then I believe your plan sounds to be likel...
by Carl53
Tue Dec 30, 2014 8:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth conversions in excess of normal retirement tax bracket
Replies: 4
Views: 565

Re: Planning for unneeded RMDs and taxes

RMDs can cause greater fractions of SS to be taxed effectively boosting the rate of the RMD taxation by up to 85% above your nominal marginal rate. If you can convert pre-SS up to the top of your 15% bracket and avoid paying 1.85 X 15% while in your 70s, that is a good thing. If sufficient time to p...
by Carl53
Wed Dec 24, 2014 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Planning for unneeded RMDs and taxes
Replies: 16
Views: 1835

Re: Travel Insurance

My daughter just got an all inclusive one year travel insurance from Bupa. http://global.ihi.com/travel+insurance.aspx $360 for anything and everything that comes up in the next 12 months. (her comment) Thank you for purchasing Bupa Global Annual Travel. Your credit card has been authorised and your...
by Carl53
Wed Dec 24, 2014 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Travel Insurance
Replies: 30
Views: 2950

Re: Roth with all income deferred

Don't forget the possibility of a Retirement Savers Credit. Work it so your taxable income generates just $1000 in tax if single and the credit, which is non-refundable, will give you a 50% credit on the first 2000 in a roth or ira or 401k or similar option. Married filing jointly gets up to double ...
by Carl53
Wed Dec 24, 2014 8:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth with all income deferred
Replies: 7
Views: 830
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