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Re: A Social Security question

She is not remarried, but she made considerably less than her late husband, especially when she cared for him while he had cancer. Her late husband would be 69 if he had survived and she is almost 59. She doesn’t want to start her own Social Security at age 62 if she retires early, because the amou...
by Carl53
Mon Mar 30, 2015 6:49 am
 
Forum: Personal Finance (Not Investing)
Topic: A Social Security question
Replies: 10
Views: 1380

Re: IRAs

No 10% penalty, however your current custodian is likely to hit you with fees. When my employer had a poor investment choice simple IRA, I only contributed the minimum to get the match. When I sought to transfer it out I received some flak from the employer and ended up leaving it in. After a couple...
by Carl53
Tue Mar 24, 2015 4:40 am
 
Forum: Investing - Help with Personal Investments
Topic: IRAs
Replies: 4
Views: 596

Re: Fish from Costco?

Are any of their fresh or frozen fish selections not from China?
by Carl53
Mon Mar 23, 2015 5:55 pm
 
Forum: Personal Consumer Issues
Topic: Fish from Costco?
Replies: 44
Views: 5421

Re: Old 401k provider overpaid my match, need tax help

Not sure what you should do now, but I'd have been inclined to ignore the letter. This will cause you more than $250 worth of headaches. I had an instance a few years ago when I received a modest overpayment on my match in one pay period. I brought it to the employer's attention. I just raised the i...
by Carl53
Sun Mar 22, 2015 7:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Old 401k provider overpaid my match, need tax help
Replies: 1
Views: 278

Re: Yet Another Roth/Trad 401K Thread

You mention leaving something for heirs. In your case they may not be in as high as tax bracket as you. This would favor traditional. Also, should you ultimately decide to donate some of your accumulated wealth, having it in traditional would be better as you would not have paid the tax on it yet an...
by Carl53
Sun Mar 15, 2015 7:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Yet Another Roth/Trad 401K Thread
Replies: 15
Views: 1343

Re: 27 yr old Starting from $0, Paid off CC

You should definitely contribute to the 401k at least as much as is required to get the entire employer match but might go higher. You have 3 acceptable low ER stock fund options. Split up your contributions between them. Consider contributing $5500 to a Roth IRA with VG or Fidelity, as your tax rat...
by Carl53
Sun Mar 15, 2015 4:08 am
 
Forum: Investing - Help with Personal Investments
Topic: 27 yr old Starting from $0, Paid off CC
Replies: 27
Views: 2939

Re: Cleaning my back yard?

Be careful that the pressure washer spray not be directed towards your wood decking. You will not like the results.
by Carl53
Sat Mar 14, 2015 6:32 am
 
Forum: Personal Consumer Issues
Topic: Cleaning my back yard?
Replies: 38
Views: 4151

Re: Kotlikoff: When Should you Take Social Security?

I scanned through this thread and did not find much information about the OP's personal situation except that he is almost 65 with his wife about three years younger. Our age situation will not be a lot different and with a spouse that had low earnings that her taking at 62 and me restricting mine t...
by Carl53
Sat Mar 14, 2015 5:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 220
Views: 19903

Re: 25YO Newlyweds -- Too Much Cash?

You have a great start. 1. We are sitting on $70k in our savings accounts. Should we pursue a taxable account since we are so heavy cash? My thought would be to leave the cash for now but possibly max out her 401k to limit the cash inflow, boost retirement savings, and lessen our tax burden Your nee...
by Carl53
Sat Mar 14, 2015 4:25 am
 
Forum: Investing - Help with Personal Investments
Topic: 25YO Newlyweds -- Too Much Cash?
Replies: 10
Views: 1741

Re: 401K - Hitting Contribution Limit w/o Equivalent Salary

Wouldn't making the after tax employee contributions into the 401K defeat the purpose of the tax advantage? Some of the folks on this forum use the after tax 401k contribution to accrue funds that can be converted to Roths (either 401k if available or IRA). This is more useful if they are otherwise...
by Carl53
Thu Mar 12, 2015 3:45 am
 
Forum: Investing - Help with Personal Investments
Topic: 401K - Hitting Contribution Limit w/o Equivalent Salary
Replies: 6
Views: 892

Re: When will / did you claim Social Security benefits?

I plan for 70, but will take spousal at 66, FRA, with my spouse taking at 62.
by Carl53
Mon Mar 09, 2015 9:40 am
 
Forum: Personal Finance (Not Investing)
Topic: When will / did you claim Social Security benefits?
Replies: 147
Views: 10556

Re: Understanding Roth conversions and question

You may also owe state taxes on your conversion. Your federal standard deduction and exemptions for 2015 total $20600, $23100 if you both are over 65. Conversions of TIRA with no basis ought to be considered up to the top of a bracket of your choosing. $20600 would be the top of the 0% bracket. The ...
by Carl53
Mon Mar 09, 2015 9:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Understanding Roth conversions and question
Replies: 16
Views: 490

Re: Pension vs. Lump

We plan on waiting as long as possible before we take social security which would be age 70 for both of us since we really don't need the money and expect to live long. That would add a considerable amt to our income and we would probably never need to touch our savings at all if we took the pensio...
by Carl53
Sun Mar 08, 2015 4:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension vs. Lump
Replies: 58
Views: 3110

Re: Setting up online Social Security account

For how many days does one have to lift an Experian security freeze to set up an online Social Security account? Also, can an online account be set up while visiting a local social security office if one does not want to lift the freeze? Thank you. You are supposed to be able to do it at the local ...
by Carl53
Fri Mar 06, 2015 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Setting up online Social Security account
Replies: 1
Views: 335

Re: $25 cash back for returning TurboTax Deluxe CD/download

Do folks that purchased through Vanguard qualify? I ended up purchasing the $9.99 premier download via Vanguard rather than the Deluxe download which had been free. Also, can the link shared by VA be gotten to from the official turbotax or intuit websites? Not to be paranoid, but they start you off ...
by Carl53
Thu Feb 19, 2015 5:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: $25 cash back for returning TurboTax Deluxe CD/download cus
Replies: 5
Views: 541

Re: Social Security - collecting portion of husband's

My wife is older than I am and started to receive SS at 62. I filed a restricted application at my FRA and received 1/2 of her FRA benefit, not 1/2 of her reduced benefit, until I was 70. Her FRA benefit was just a little more than 1/2 of my FRA benefit so file and suspend was not necessary. At 70 ...
by Carl53
Thu Feb 19, 2015 6:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security - collecting portion of husband's
Replies: 11
Views: 884

Re: Ironic Downside to Retirement Planning

Early in married life we talked about being able to retire by 55. While I occasionally looked at our assets/income ratio over the years I seldom focused on how many more years it might actually be. Life happened, kids, college expenses, medical conditions that prevented my spouse from performing reg...
by Carl53
Wed Feb 18, 2015 7:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Ironic Downside to Retirement Planning
Replies: 17
Views: 2935

Re: Has anyone restored windows?

Thank you all! You have definitely confirmed some of my suspicions that they are worth saving- or at least investigating. Also, these windows pre-date those with weights and pulleys. There is no hardware on these at all, one reason I think they've lasted so long- they are so simple. If they get sti...
by Carl53
Wed Feb 18, 2015 6:02 am
 
Forum: Personal Consumer Issues
Topic: Has anyone restored windows?
Replies: 25
Views: 1946

Re: Where would YOU place 50k for intermediate term savings?

A year plus ago when I was looking at a similar situation I went with seven 10k 5 year CDs expecting that there was a high likelihood that an uncertain number of them would need to be redeemed early. Glad I did given today's rates. PenFed had the 3% CDs at the time with one year EWP. I did purchase ...
by Carl53
Mon Feb 16, 2015 4:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Where would YOU place 50k for intermediate term savings?
Replies: 24
Views: 2326

Re: freeze kids' accounts with the 3 bureaus?

Sounds like a good idea to me.
by Carl53
Sat Feb 14, 2015 7:12 am
 
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1073

Re: New Roth 401(k) available from employer - should I switc

We're currently in the upper-middle of the 15% bracket. Given the average salary of an experienced electrical engineer in my industry and location, it's safe to say we'll be in the 25% bracket within the next 10 years. If I convert the traditional 401(k) into a roth, I'd have to pay taxes on that n...
by Carl53
Sat Feb 14, 2015 7:09 am
 
Forum: Investing - Help with Personal Investments
Topic: New Roth 401(k) available from employer - should I switch?
Replies: 15
Views: 976

Re: Attempting to increase retirement contributions by 5%.

Thank you guys all for the advice. I am going to take the following actions: 1. Drop my personal cell phone and use the work full time - $100 savings 2. Drop cable - $50 savings 3. Cut Travel to $50/month for the time being - $100 savings 4. Cut electronics - $50 savings 5. Cut durable goods - $60 ...
by Carl53
Thu Feb 12, 2015 7:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Delete
Replies: 25
Views: 1949

Re: What has been your experience with IP-PIN?

bump 1: Any BH with experience with this?
by Carl53
Mon Feb 09, 2015 9:10 pm
 
Forum: Personal Consumer Issues
Topic: What has been your experience with IP-PIN?
Replies: 2
Views: 392

Re: Tax calculation for recharacterization of Roth conversio

My problem with several recharacterizations in December ( https://www.bogleheads.org/forum/viewtopic.php?f=2&t=153605 ) was in part due to market fluctuations and using the day prior close of business values. Additional complications were related to prorated dividend payments and the timing of d...
by Carl53
Mon Feb 09, 2015 8:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax calculation for recharacterization of Roth conversion
Replies: 29
Views: 2180

Re: Health Insurer, Anthem, Hacked

Ugghhh...so annoying. I attempted to freeze my credit with Equifax yesterday and got the "your request could not be processed" error as well...and of course my credit card was charged. Now I'm just praying my credit isn't truly frozen. Dreading trying to get this sorted out with them. We ...
by Carl53
Mon Feb 09, 2015 9:52 am
 
Forum: Personal Consumer Issues
Topic: Health Insurer, Anthem, Hacked
Replies: 100
Views: 8516

Re: Tax calculation for recharacterization of Roth conversio

I find it interesting that you did your recharacterization over the phone. Every time in the past I had to use one of their cumbersome poorly worded forms. I wonder if you/they miscommunicated and ended up recharacterizing a current dollar total rather than 100% of the new Roths. In December a coupl...
by Carl53
Sun Feb 08, 2015 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax calculation for recharacterization of Roth conversion
Replies: 29
Views: 2180

Re: Stay until vested?

If your position was one in which SS was not contributed to and your new one is, then I would consider taking the $$ out to avoid the WEP and related interaction between SS and government pensions.
by Carl53
Sun Feb 08, 2015 8:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Stay until vested?
Replies: 10
Views: 1236

Re: Health Insurer, Anthem, Hacked

Placed credit freezes with Transunion and Experian. Equifax says comes back and try later after you put all of your information in. Same result as last evening. I put on credit freeze with all 3 agencies this AM. When I applied online for the Equifax freeze, I entered all required information and a...
by Carl53
Sat Feb 07, 2015 4:59 pm
 
Forum: Personal Consumer Issues
Topic: Health Insurer, Anthem, Hacked
Replies: 100
Views: 8516

What has been your experience with IP-PIN?

For those that have used the IRS identity protection pin (IP-PIN), what has your experience been? Do you use the same PIN to file for an extension as when you file your return? Do you choose to file electronically? Any issues, unforeseen problems, or benefits?

edi: corrected id-pin to ip-pin
by Carl53
Sat Feb 07, 2015 4:46 pm
 
Forum: Personal Consumer Issues
Topic: What has been your experience with IP-PIN?
Replies: 2
Views: 392

Re: Health Insurer, Anthem, Hacked

Placed credit freezes with Transunion and Experian. Equifax says comes back and try later after you put all of your information in. Same result as last evening.
by Carl53
Fri Feb 06, 2015 5:49 am
 
Forum: Personal Consumer Issues
Topic: Health Insurer, Anthem, Hacked
Replies: 100
Views: 8516

Re: Best ways to save on electricity bill

Thank you for all comment. More information, The house is built in late 2010, 1800sqft 3 bed room ranch house, but it has high ceiling. Family size is just 2 (me and my wife). The windows are double glazed, but i have lots of windows. My wife open blinds during day times to accept more sunlight whe...
by Carl53
Thu Feb 05, 2015 7:54 am
 
Forum: Personal Consumer Issues
Topic: Best ways to save on electricity bill
Replies: 58
Views: 6997

Re: Vanguard survey: what should they do differently?

clean up old, empty, inactive accounts in my home page view. It seems small but it seems I have 25 or 30 various accounts, at least 6-10 of them have a $0 balance, and I want to see only the active ones. In fact there is a way to do that with Vanguard's preferences, but I still know they're 'there....
by Carl53
Tue Feb 03, 2015 9:19 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard survey: what should they do differently?
Replies: 72
Views: 4308

Re: Simple Tax Question Regarding Roth IRAs

If you were on the low income end you might be eligible for the retirement savers credit with a Roth.
by Carl53
Tue Feb 03, 2015 9:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Simple Tax Question Regarding Roth IRAs
Replies: 7
Views: 324

Re: Cash Back Credit Cards

I failed to mention that the bulk of our purchases go to a 2% cashback Priceline Visa card that unfortunately no longer offers 2% to new enrollees.
by Carl53
Tue Feb 03, 2015 9:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Cash Back Credit Cards
Replies: 90
Views: 13190

Re: Cash Back Credit Cards

I stopped using PenFed Visa platinum rewards card when they changed the points from 2500 for $25 to 2960 points for $25. We've semi-retired the PF Visa platinum rewards card since we got a SM card. I was going to get rid of the AMEX BCP due to the fee, but have discovered the special offers they ma...
by Carl53
Tue Feb 03, 2015 8:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Cash Back Credit Cards
Replies: 90
Views: 13190

Re: New Job. Need help with deciding on contributions

Is your 43,800 income, taxable income or Adjusted Gross Income? You state that you are in the 25% bracket. This would be correct if the $43.8k is taxable income but you would be only in the 15% bracket if it is AGI. Assuming that it is taxable income, then you ought to consider as you suggest the 4%...
by Carl53
Tue Feb 03, 2015 8:02 am
 
Forum: Investing - Help with Personal Investments
Topic: New Job. Need help with deciding on contributions
Replies: 6
Views: 583

Re: Define "High tax bracket"

There are "effective tax brackets," just not how TurboTax uses the term. There's the 30% effective marginal rate as each new dollar is not only taxed, but causes a dollar of otherwise untaxed LTCG be taxed. There's phase out of deductions, plus other phaseouts. There's the dollar that mov...
by Carl53
Tue Feb 03, 2015 6:34 am
 
Forum: Investing - Theory, News & General
Topic: Define "High tax bracket"
Replies: 45
Views: 3811

Re: Perspectives on house with a pool

I suspect many of negative comments are from those that have not figured out how to properly maintain their pool. I didn't for ten years, but I got smarter and the last fifteen years have been almost a piece of cake. I only use the gas heater early, mid May, and to stretch the season until October. ...
by Carl53
Mon Feb 02, 2015 4:54 pm
 
Forum: Personal Consumer Issues
Topic: Perspectives on house with a pool
Replies: 34
Views: 2854

Re: Best ways to save on electricity bill

Since my natural gas bill is below $25 a month when the central heat is not on, I know what the gas water heaters and clothes dryer cost and by math in the winter time what heating the house costs. Our off season gas bill for hot water only (6 CCF) is nearly $28 per month as the minimum charge has ...
by Carl53
Mon Feb 02, 2015 9:16 am
 
Forum: Personal Consumer Issues
Topic: Best ways to save on electricity bill
Replies: 58
Views: 6997

Re: Need SS calculator for early retirees

I suggest you download the AnyPIA calculator from the social security website. It will allow you to enter zeros for future years. I believe the online mySS site assumes that you will continue to earn at your current level until you retire.

http://www.ssa.gov/OACT/anypia/download.html
by Carl53
Sun Feb 01, 2015 8:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Need SS calculator for early retirees
Replies: 5
Views: 486

Re: Standard deduction and housing

You may be able to have the escrow dropped. Years ago we did and were able to avoid escrow on later mortgages.

Did you look at the bunching thread mentioned above? You might not be a great candidate for it as you will still have mortgage interest in each pair of years.
by Carl53
Sun Feb 01, 2015 8:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Standard deduction and housing
Replies: 10
Views: 1137

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: 10
Views: 1137

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: 2640

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: 1430

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: 601

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: 2543

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: 2543

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: 46
Views: 3507

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: 8329

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: 79
Views: 7220
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