Search found 1004 matches

by Carl53
Tue Jul 28, 2015 5:16 am
Forum: Investing - Help with Personal Investments
Topic: Refinance a few years before sale?
Replies: 3
Views: 285

Re: Refinance a few years before sale?

If you are going to move in 3 years, plus or minus a year, I think I would be sure that all of my closing costs would be paid off in well less than two years. My son refinanced his home 13 months ago, and was ahead after about 8 months. Shop around, some institutions may be offering specials on low ...
by Carl53
Sun Jul 26, 2015 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Unequal estimated tax payments
Replies: 25
Views: 1757

Re: Unequal estimated tax payments

You can do anything you want to do. You can even ditch EFTPS and use Direct Pay which is easier. When you use "Direct Pay", do you receive a 1099 or other document to reflect the taxes paid? I see there are options to have funds taken from your bank account or from a cc. Am I correct in a...
by Carl53
Wed Jul 22, 2015 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had experience with missingmoney.com?
Replies: 14
Views: 1479

Re: Has anyone had experience with missingmoney.com?

OP here. As I stated in my original post, when I went to my state website and did a search of unclaimed funds, it then sent me to a 3rd party website to fill out a claim form. I looked at the FAQs section on the state website and it claimed that I could mail a form directly to the state but I could ...
by Carl53
Tue Jul 21, 2015 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Savings Contributions Credit (Saver’s Credit)
Replies: 3
Views: 348

Re: Retirement Savings Contributions Credit (Saver’s Credit)

Check out form 8880 instructions. If you were a full time student for parts of five months, you are ineligible.
by Carl53
Tue Jul 21, 2015 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Social Security estimated benefits accuracy with 'spotty' earnings
Replies: 27
Views: 2157

Re: Social Security estimated benefits accuracy with 'spotty' earnings

I'm doing the crash course in Social Security benefits, with 62 just around the corner. There were a few things I didn't know, such as the best 35 years of the last 40 being used to calculate benefits. In my case I actually have well under 35 years of SS covered earnings and not a penny since 1997,...
by Carl53
Mon Jul 20, 2015 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had experience with missingmoney.com?
Replies: 14
Views: 1479

Has anyone had experience with missingmoney.com?

My sister called while I was composing a post on another topic informing me that I had several supposed unclaimed funds if I checked my state's unclaimed funds site. I did check it out but end up getting moved to a non-government site, missingmoney.com asking for personal information to validate the...
by Carl53
Mon Jul 20, 2015 7:56 pm
Forum: Investing - Help with Personal Investments
Topic: What is an acceptable CD EWP?
Replies: 1
Views: 251

What is an acceptable CD EWP?

I have been helping my in-laws with some of their financial dealings. Mostly pretty simple taxes, setting up auto pay for bills and the like. I was looking at one of their CD renewal notices and found some eye-popping early withdrawal penalties. "Current early withdrawal penalties are: 31 day t...
by Carl53
Wed Jul 15, 2015 6:38 am
Forum: Investing - Help with Personal Investments
Topic: Roth to Traditional
Replies: 10
Views: 807

Re: Roth to Traditional

You might want to read the wiki post on traditional vs Roth IRAs: https://www.bogleheads.org/wiki/Traditional_versus_Roth Unless you have outside income or are married and your spouse has substantial income it is not likely that your marginal federal income tax bracket is >15%. IMHO, most bogleheads...
by Carl53
Wed Jul 15, 2015 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Need to Refi 1st Mortgage but under water $110k
Replies: 27
Views: 2271

Re: Need to Refi 1st Mortgage but under water $110k

You might check out Dave Ramsey. There are many that talk positively about his brand of tough love (Eat beans and rice) regarding debt repayment. I suspect that you need to sell the house and stop spending so much money on life. You likely will need to liquidate the stock, but I would try to avoid t...
by Carl53
Thu Jul 09, 2015 4:18 am
Forum: Personal Finance (Not Investing)
Topic: New Graduate with New Job....Need advice with debt plan!!!
Replies: 10
Views: 1016

Re: New Graduate with New Job....Need advice with debt plan!!!

Since you just graduated you probably have not earned much yet this year. The Roths may be best for this year as long as you end up in the 15% marginal bracket on your federal taxes. You can use tax prep software to test out your status or an excellent learning exercise would be to build your own ta...
by Carl53
Sat Jul 04, 2015 7:53 am
Forum: Personal Consumer Issues
Topic: Replacing broken furniture drawer hardware.
Replies: 11
Views: 826

Re: Replacing broken furniture drawer hardware.

I had several pulls on an old bedroom set similarly fail. Years ago, pre-googling for replacements that I highly doubt would have been available, I used pieces of bare #12 copper wire to loop around the broken ends. My pulls are a little more brass colored but you might be able to get copper wire to...
by Carl53
Sun Jun 28, 2015 7:00 pm
Forum: Personal Consumer Issues
Topic: can you recommend comfortable walking shoes?
Replies: 48
Views: 4829

Re: can you recommend comfortable walking shoes?

Another vote for New Balance. I have 3 pair of 812s in various colors, all made in the USA. The black ones even serve me for when I ought to have a dressier black shoe. Well I also have some beat up ones that I wear around the yard too. For when its nasty outside I have a pair of MW1569s.
by Carl53
Sat Jun 13, 2015 12:16 pm
Forum: Investing - Help with Personal Investments
Topic: tIRA's RMDs causing increasing tax concerns
Replies: 62
Views: 7596

Re: tIRA's RMDs causing increasing tax concerns

I might take another look at Roth Conversions. I really appreciate you all's input. I'm not picking on Electron. It's just he offered one of the first ideas I might have a chance of understanding and calculating. But, I'm probably doing this wrong - so please chime in with corrections. If I do a Ro...
by Carl53
Fri Jun 12, 2015 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: tIRA's RMDs causing increasing tax concerns
Replies: 62
Views: 7596

Re: tIRA's RMDs causing increasing tax concerns

As others have suggested QCDs may be available in addition to the standard deduction. I would presume so until otherwise proven. At worst, if it is money that you would otherwise have donated, you are only looking at the 25% tax savings that might be lost if they do not renew it. Use a tax program t...
by Carl53
Thu Jun 11, 2015 4:44 am
Forum: Personal Finance (Not Investing)
Topic: Individual bonds in IRA of deceased
Replies: 4
Views: 439

Individual bonds in IRA of deceased

I have held some individual TIPS in my IRAs. While I might live to their complete term, I wonder if I am complicating the lives of those that will inherit the IRAs should my death precede the maturity of the bond. I have multiple beneficiaries. If this is an issue would it be better to split the IRA...
by Carl53
Wed Jun 10, 2015 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Elderly Parents - Putting Home into Life Estate?
Replies: 18
Views: 2437

Re: Elderly Parents - Putting Home into Life Estate?

I added to this thread instead of starting a new one as it is one that had several relevant comments and I hoped that one or more of the original responders might jump in.
by Carl53
Wed Jun 10, 2015 5:17 am
Forum: Personal Finance (Not Investing)
Topic: Elderly Parents - Putting Home into Life Estate?
Replies: 18
Views: 2437

Re: Elderly Parents - Putting Home into Life Estate?

Advantages according to the attorney: 1. Simplicity and Low Cost to Establish 2. Avoids Probate 3. Simplicity of Clearing title to Real Estate 4. Life Tenant's Right to Occupancy is Protected Regardless of Debts or Actions of Remainder Owners 5. Income Tax Advantage to Heirs upon Death of Life Tena...
by Carl53
Tue Jun 09, 2015 2:35 pm
Forum: Investing - Help with Personal Investments
Topic: 401k with no matching
Replies: 13
Views: 1256

Re: 401k with no matching

What are the Expense Ratios on your fund options? If there are no good options, it may be questionable as to whether you ought to use it prior to getting the match. Once you get a match, depending on how good it is, it is likely that you should put enough in to at least get the entire match. Your re...
by Carl53
Mon Jun 08, 2015 8:24 pm
Forum: Personal Consumer Issues
Topic: Car dealer wants me to compensate for underpayment
Replies: 182
Views: 13596

Re: Car dealer wants me to compensate for underpayment

Just curious - why did you sign a contract to buy a car? Is that how it's done these days? My last car purchase (admittedly some years ago) I just went in, negotiated the price, and bought it. Preapproved with my credit union. No contract. You say no "contract - but you forget there had to be ...
by Carl53
Wed Jun 03, 2015 5:29 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Strategies
Replies: 43
Views: 4237

Re: Social Security Strategies

Check to see if your wife's PIA came with the assumption that she continue to work to 66. If so, her retiring at 62 may result in it actually being somewhat lower. If it is correct you would get half of that after withdrawing your application and filing a restricted application as a spouse or 678. S...
by Carl53
Mon May 25, 2015 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Divorced spouse filing for Social Security
Replies: 10
Views: 1860

Re: Divorced spouse filing for Social Security

I wonder if at 66 you might be able to choose to file for spousal benefits on your X assuming your current spouse is not yet collecting and a spousal on her record would not be better.
by Carl53
Wed May 20, 2015 8:29 am
Forum: Personal Finance (Not Investing)
Topic: How much does social security factor into your retirement income?
Replies: 169
Views: 13279

Re: How much does social security factor into your retirement income?

Early 60s now. If I was taking SS now it might be one third of our income. Instead we are leveraging it by delaying it until 70 except for a small spousal at 66. At 70 it will be about 50%. Prior to 70 we are drawing down taxable and converting TIRAs.
by Carl53
Wed May 20, 2015 8:14 am
Forum: Personal Consumer Issues
Topic: Rough cost to replace central A/C unit?
Replies: 9
Views: 1532

Re: Rough cost to replace central A/C unit?

Our a/c unit acted similarly over the weekend. Being the weekend I turned off the breaker for a few hours and then tried it again and the ac fired up ok. Repairman coming today. Am I wasting this repair call? Will the repairman be able to determine if the capacitor is bad or going bad since I got it...
by Carl53
Sun May 10, 2015 4:58 am
Forum: Personal Finance (Not Investing)
Topic: Less than 2 years from retirement, finalizing plan and hoping for input
Replies: 16
Views: 2870

Re: Less than 2 years from retirement, finalizing plan and hoping for input

As others have mentioned, when the second spouse achieves FRA have the higher earning spouse file and suspend and the lower earning spouse file a restricted application for spousal allowing their individual benefits to grow to the maximum. Tax rates should be 10/15/25 not 10/20/25. The 15% bracket t...
by Carl53
Wed May 06, 2015 5:40 pm
Forum: Personal Consumer Issues
Topic: Time Warner WIFI guest password possible?
Replies: 1
Views: 368

Time Warner WIFI guest password possible?

We are about to relocate to a temporary home for a year. New location offers time warner Internet 50/5 speeds. We have had DSL at less than 3/0.6 at our current location. We will likely rent the twc modem-router since we will not be there long term. I have not found any online reference verifying th...
by Carl53
Thu Apr 23, 2015 7:48 am
Forum: Personal Finance (Not Investing)
Topic: Opening Online Savings Account with Credit Freeze
Replies: 10
Views: 1121

Re: Opening Online Savings Account with Credit Freeze

In 2013, when I called Ally about the new account reject email I was informed about the need to check credit. I told the agent I did not want to pay for three credit thaws. They had me do experian only.
by Carl53
Mon Apr 20, 2015 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Question for you Roth conversion experts!
Replies: 3
Views: 502

Re: Question for you Roth conversion experts!

It very well may be that you have even lower income now between 62 and 65. Are you funding your expenses during that period out of already taxed savings? If so, you may be well below the top of the 15% bracket (74,900 taxable or 95,500 AGI for a couple taking the standard deduction). In this case an...
by Carl53
Sun Apr 19, 2015 7:57 am
Forum: Investing - Help with Personal Investments
Topic: ROTH conversion and RMD
Replies: 3
Views: 369

Re: ROTH conversion and RMD

Sorry, but no on Q1.

Conversion 5 year rules only apply prior to 59.5.
by Carl53
Sat Apr 18, 2015 10:10 am
Forum: Investing - Help with Personal Investments
Topic: long term capital gain tax vs. roth conversions
Replies: 41
Views: 2664

Re: long term capital gain tax vs. roth conversions

Tough call. Reducing your conversion by about 10k ought to make the capital gains and qualified dividends tax free. As Penquin points out you likely will have some SS to take at age 66 plus a couple months. You will have to look at those years more closely, but I suspect that you will want to take t...
by Carl53
Sat Apr 11, 2015 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying SS for tIRA conversions
Replies: 13
Views: 1667

Re: Delaying SS for tIRA conversions

Carl53, your memory is way better than mine! I can only wish that was the case. While your information seemed a little bit familiar, I did not realize I had previously commented on it until I did a search of my previous posts when looking for the Bigfoot and graphic links. I did get the estimates f...
by Carl53
Sat Apr 11, 2015 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Couple of Term Life Questions
Replies: 5
Views: 501

Re: Couple of Term Life Questions

I'd go with option 1. You can add insurance should you have children. Yes it will be more expensive later. Talk to each other. Think about whether your widowed spouse might likely remarry. You both work and presumably are saving towards retirement and are few years from being debt free. There is not...
by Carl53
Sat Apr 11, 2015 8:57 am
Forum: Personal Finance (Not Investing)
Topic: When to Retire?
Replies: 35
Views: 3572

Re: When to Retire?

Looks like you can live off of dividends and interest payments without touching principle. Since you have to wait till 59.5 to withdraw from tax advantaged accounts, you might want to work till then at least. Have you saved for college? OP does not need to wait until 59.5 if he uses one of two exce...
by Carl53
Sat Apr 11, 2015 5:12 am
Forum: Personal Finance (Not Investing)
Topic: Delaying SS for tIRA conversions
Replies: 13
Views: 1667

Re: Delaying SS for tIRA conversions

Did you get your SS estimates from the mySS website? As you apparently noticed it assumes that you will continue working until retirement. If you download the AnyPIA calculator from the SS website you can manually enter earnings history and future earnings to obtain an estimate that would reflect no...
by Carl53
Wed Apr 08, 2015 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Should We Start Taking Social Security Out?
Replies: 10
Views: 1116

Re: Should We Start Taking Social Security Out?

You could file and suspend your benefits. This would allow your wife to obtain spousal benefits on your basis assuming they were larger than the benefits on her earnings. Her benefits would be permanently reduced. By file/suspending your benefits, you could allow yours to continue to grow until age ...
by Carl53
Wed Apr 01, 2015 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Freeze and NEW Credit Cards
Replies: 12
Views: 1056

Re: Credit Freeze and NEW Credit Cards

I had to pay $5 for a temporary unfreeze last fall for the Barclays Sallie Mae card. Got the initial denial letter. When I called they told me that they were using Transunion. I did the unfreeze thing, then notified SM. I soon got an email that I was approved.
by Carl53
Mon Mar 30, 2015 6:49 am
Forum: Personal Finance (Not Investing)
Topic: A Social Security question
Replies: 10
Views: 1524

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
Tue Mar 24, 2015 4:40 am
Forum: Investing - Help with Personal Investments
Topic: IRAs
Replies: 4
Views: 690

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
Mon Mar 23, 2015 5:55 pm
Forum: Personal Consumer Issues
Topic: Fish from Costco?
Replies: 44
Views: 6832

Re: Fish from Costco?

Are any of their fresh or frozen fish selections not from China?
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: 326

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 15, 2015 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Yet Another Roth/Trad 401K Thread
Replies: 15
Views: 1564

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 4:08 am
Forum: Investing - Help with Personal Investments
Topic: 27 yr old Starting from $0, Paid off CC
Replies: 27
Views: 3298

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
Sat Mar 14, 2015 6:32 am
Forum: Personal Consumer Issues
Topic: Cleaning my back yard?
Replies: 41
Views: 5908

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 5:07 am
Forum: Personal Finance (Not Investing)
Topic: Kotlikoff: When Should you Take Social Security?
Replies: 244
Views: 29080

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 4:25 am
Forum: Investing - Help with Personal Investments
Topic: 25YO Newlyweds -- Too Much Cash?
Replies: 10
Views: 1921

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
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: 1002

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
Mon Mar 09, 2015 9:40 am
Forum: Personal Finance (Not Investing)
Topic: When will / did you claim Social Security benefits?
Replies: 152
Views: 14096

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 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Understanding Roth conversions and question
Replies: 16
Views: 612

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
Sun Mar 08, 2015 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Pension vs. Lump
Replies: 58
Views: 3811

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
Fri Mar 06, 2015 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up online Social Security account
Replies: 1
Views: 367

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
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: 632

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 ...

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