Search found 315 matches

by FB01
Tue Aug 04, 2015 10:52 am
Forum: Personal Consumer Issues
Topic: Cancelling credit after first year?
Replies: 6
Views: 584

Cancelling credit after first year?

Hi, I had got Southwest Chase credit card and United Explorer Mileage credit card just for the miles. Now a year is up and I will be charged the annual fee. Is it good idea to cancel the cards? I won't be using those cards. Also,I am planning to buy a house pretty soon so will canceling the card be ...
by FB01
Mon Aug 03, 2015 12:21 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Rewards (Travel)
Replies: 212
Views: 15527

Re: Credit Card Rewards (Travel)

Since June 2014, between two people, all are the sign-up portions: 1. 70K Chase UR (via Chase Ink Plus, $0 fee first year), 2. 55K United (via Chase United MP, $0 fee first year), 3. 40K US Airways (via Barclays, $89 fee), 4. 100K American (via Citibank Executive AA Card, $450 fee, $200 rebated; al...
by FB01
Sun Aug 02, 2015 5:36 pm
Forum: Personal Consumer Issues
Topic: Aloha Mind math for 5 year old
Replies: 8
Views: 1033

Aloha Mind math for 5 year old

Hello,

My kid will be turning 5 next month and planning to put her in Aloha Math mind. Do any of you guys recommend to keep her in that early age or should I enroll her later when she is in 2nd/3rd grade.

Does it really helps? If anybody who has the experience, would appreciate.

Thanks,
FB
by FB01
Fri Jul 24, 2015 11:30 pm
Forum: Personal Consumer Issues
Topic: Wedding Reception
Replies: 68
Views: 8711

Re: Wedding Receiption

We had an open bar at our wedding. No cash bar and no tipping. Wine, beer, liquor, and specialty cocktails. Never heard one complaint and got a lot of thank yous and compliments. It may sound tacky, but the booze is what makes a wedding fun :) To answer your question, it isn't needed but if you do ...
by FB01
Tue Jul 21, 2015 12:20 pm
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1626

Re: 2007 Toyota Camry Issue

I just talked to my husband, who has owned an auto repair shop for over 20 years, and got his opinion. He says: 1. Try physically bouncing the car at both the front and rear ends. If the car continues to bounce more than once after you stop, the struts need to be replaced. Otherwise, they can wait....
by FB01
Tue Jul 21, 2015 12:21 am
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1626

Re: 2007 Toyota Camry Issue

Thank you all for your replies.

I called and independent auto repair shop and he quoted 450-500 for changing water pump and drive belt.

As you guys mentioned, Strut is not important to change immediately, I will go ahead and change water pump first.

-FB
by FB01
Mon Jul 20, 2015 1:33 pm
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1626

Re: 2007 Toyota Camry Issue

Thank you all for your inputs. My car is 2007 XLE and the quote given is from my dealer. I live in Bay Area, CA so I guess price should be higher. I thought Strut was important so I tried to contact some repair shop and he gave me quote of $800 for both front and rear strut. Dealer gave me quote of ...
by FB01
Mon Jul 20, 2015 11:40 am
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1626

2007 Toyota Camry Issue

Hi, I have a Toyota 2007 camry and have put on 62K miles. I went for the normal check up and the person said i have below 2 issues which needs repair and cost is around 3000 dollars 1) Struts : Front and Rear struts are leaking (Leaking Leve is 2) 2) Engine Water pump leaking and changing accessory ...
by FB01
Fri Jul 10, 2015 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Brokerage fees on Tax reporting
Replies: 1
Views: 179

Brokerage fees on Tax reporting

Hi, I bought 100 shares at $40 and there was brokerage fee of 7.00 dollars. So my principal amount is 100X40 = 4000 and net amount will be 4007 (plus $7 brokerage fees) I sold the same set of shares for $50. So my principal amount will be 5000 and net amount will be 4993 (minus $7 brokerage fees) Ne...
by FB01
Mon Jun 29, 2015 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1129

Re: Confusion about Roth IRA income contribution limit

-FB[/quote] The entire first page of the 1040 tax form is to get to your AGI. We do not know what your tax situation is. 1. Pls try to calculate your AGI and then make adjustments to get your MAGI for Roth IRA purposes. 2. Your number of 191K for MAGI for Roth IRA purposes is wrong. Here's a link to...
by FB01
Mon Jun 29, 2015 10:19 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1129

Re: Confusion about Roth IRA income contribution limit

For Roth IRA contribution income limit, I believe I need to see tax line item 37 in 1040 form which should not go beyond 193K for Married-Filling Jointly. Did you notice that DSInvestor mentioned the term Modified AGI? Line 37 is your AGI but what you need to calculate is the Modified AGI as define...
by FB01
Mon Jun 29, 2015 12:54 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1129

Re: Confusion about Roth IRA income contribution limit

FB, You may be able to do backdoor Roth contributions instead. See: https://www.bogleheads.org/wiki/Backdoor_Roth_IRA However, if you already have deductible contributions in any traditional IRA, you may have second thoughts. If you have questions, just ask. There are also many threads here that ta...
by FB01
Mon Jun 29, 2015 12:17 am
Forum: Investing - Help with Personal Investments
Topic: Housing Market in Southern California
Replies: 32
Views: 4646

Re: Housing Market in Southern California

hi,

My experience is totally opposite..I live in Bay area and whenever I go to see houses with good school district San Jose, Pleasanton etc...I see too many people coming to see 800-900K houses and the thing is they get sold within a week.

Crazy market...

-FB
by FB01
Mon Jun 29, 2015 12:11 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1129

Confusion about Roth IRA income contribution limit

Hello, For Roth IRA contribution income limit, I believe I need to see tax line item 37 in 1040 form which should not go beyond 193K for Married-Filling Jointly. I always do Standard deduction. This year I changed jobs and have got RSU's and might be getting some bonus (getting both for the first ti...
by FB01
Thu Jun 25, 2015 1:34 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterzing Roth IRA
Replies: 5
Views: 483

Re: Recharacterzing Roth IRA

You can open a Traditional IRA online. Call or email and ask Vanguard to recharacterize the Roth to Traditional. After they complete that and the money is in the Traditional, there will be a button to convert. It's pretty easy and you're right, you will have to pay taxes on the gains. Hello Mickens...
by FB01
Wed Jun 24, 2015 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterzing Roth IRA
Replies: 5
Views: 483

Recharacterzing Roth IRA

Hi, I contributed for my Roth IRA for this year for me and my wife and now I think my MAGI is going to increase so I will be recharacterzing my Roth. This is what I am going to do 1) Call Vanguard to open TIRA account for me and my wife. 2) Move the funds from Roth IRA account to those TIRA accounts...
by FB01
Fri May 22, 2015 9:06 pm
Forum: Investing - Help with Personal Investments
Topic: 529 before conceiving a child?
Replies: 12
Views: 917

Re: 529 before conceiving a child?

hello,

If you definatly know you are going to have a baby, open it now. You can put yourself as beneficiary and can put your kids name whenever you want. I opened the account when my kid was born but if I had known the option, would have opened before. It is just about compound interest.

-FB
by FB01
Thu May 14, 2015 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Short term strategy
Replies: 2
Views: 319

Short term strategy

Hi, I generally go for long term investment in individual stock. However, I had a discussion with a friend he said that if he see 100 dollars up in the particular stock, he will immediately sell it and he does this frequently. Just wanted to check if any short term investor follow this type of strat...
by FB01
Wed Apr 22, 2015 1:00 am
Forum: Personal Finance (Not Investing)
Topic: MAGI exceed limit - Confirming Roth IRA transfer process
Replies: 12
Views: 1141

Re: MAGI exceed limit - Confirming Roth IRA transfer process

3) Transfer Roth IRA amount for 2015 (Contribution + Earnings) ..saying 6000 from my Roth iRA and 6200 from my wife's Roth IRA to the TIRA account in step 1 and 2 Use the word "recharacterize" instead of transfer. This is a "do over". It's as if you contributed to the TIRA all a...
by FB01
Tue Apr 21, 2015 10:41 am
Forum: Personal Finance (Not Investing)
Topic: MAGI exceed limit - Confirming Roth IRA transfer process
Replies: 12
Views: 1141

Re: MAGI exceed limit - Confirming Roth IRA transfer process

The Rollover 401K IRA is only in my name. Someone from this forum advised and I need NOT do anything for my wife's Roth IRA. The reason you are recharacterizing in the first place is because your joint income is too high to make direct contributions to a Roth IRA. That means her joint income is too...
by FB01
Mon Apr 20, 2015 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: MAGI exceed limit - Confirming Roth IRA transfer process
Replies: 12
Views: 1141

Re: MAGI exceed limit - Confirming Roth IRA transfer process

I have contributed 5500 to Roth IRA for me and my wife (my wife does not work) for 2015 with Vanguard. Does this mean you contributed $5.5K to a Roth IRA for yourself and $5.5K to a Roth IRA for your wife? Because if you also contributed for your wife then she will have to recharacterize her Roth I...
by FB01
Mon Apr 20, 2015 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: MAGI exceed limit - Confirming Roth IRA transfer process
Replies: 12
Views: 1141

Re: MAGI exceed limit - Confirming Roth IRA transfer process

You seem to be confusing 401k accounts with IRA accounts. They are separate and different. You current have a rollover IRA. It came from a 401k, but it is a rollover IRA. To facilitate the back door Roth, you are correct to roll it into your 401k plan after you have checked to be sure your 401k pla...
by FB01
Mon Apr 20, 2015 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: MAGI exceed limit - Confirming Roth IRA transfer process
Replies: 12
Views: 1141

MAGI exceed limit - Confirming Roth IRA transfer process

Hi, I am in the process of doing what was suggested but want to make sure I am doing it correctly. Issue : I have contributed 5500 to Roth IRA for me and my wife (my wife does not work) for 2015 with Vanguard. However, now I think that my MAGI is going to increase more then 183K for this year which ...
by FB01
Fri Apr 17, 2015 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Confusion regarding Expense ratio
Replies: 3
Views: 536

Confusion regarding Expense ratio

hi, I rolled over my 401k in Vanguard to VTSAX which has Gross Expense ratio of 0.05. My employer 401K plan has same Vanguard fund but with gross expense ration of 0.0157%. It says Gross Expense Ratio per $1,000 is $.016. Assuming I have 50K in my Vanguard 401k, how much will I be saving in a year i...
by FB01
Fri Apr 17, 2015 11:27 am
Forum: Investing - Help with Personal Investments
Topic: VTSMX - How to measure how much it is down during trade day
Replies: 5
Views: 619

Re: VTSMX - How to measure how much it is down during trade

With mutual funds you really think in share prices. VTSMX Total Stock Market tracks the total market. If the market is down 2.5%, the fund will likely be down 2.5%. You can also look at VTI ETF which is the ETF share class of Vanguard Total Stock Market Index VTSMX/VTSAX. So if I see VTF, it is dow...
by FB01
Fri Apr 17, 2015 10:31 am
Forum: Investing - Help with Personal Investments
Topic: VTSMX - How to measure how much it is down during trade day
Replies: 5
Views: 619

VTSMX - How to measure how much it is down during trade day

Hi, If I buy VTSMX, I will come to the price at what I got only after the market closes. Yesterday VTSMX was 53.20 and currently market is down approx. 250 points. Now, is there any other way, I can know that VTSMX might have reduced to 52.50(just a guess) today because of the market going down. Jus...
by FB01
Sun Mar 01, 2015 9:24 pm
Forum: Investing - Theory, News & General
Topic: Vanguard 529 plans
Replies: 4
Views: 798

Re: Vanguard 529 plans

VG offers 3 options in their age based 529 savings plan, "conservative, moderate and aggressive". We have been using the aggressive option, and due to mostly luck, have been rewarded since most deposits have been post-2009. At this time the aggressive option, in my son's age group, is 50:...
by FB01
Thu Feb 26, 2015 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contribution limit - MAGI - which line on 1040
Replies: 6
Views: 336

Re: Roth IRA Contribution limit - MAGI - which line on 1040

dbltrbl wrote:Line 37:))


Thanks for the quick reply. I had HSA contribution in 2014 but I will not have in 2015 so I guess line 22 and 37 will show the same amount. Am I getting correct?
by FB01
Thu Feb 26, 2015 11:24 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contribution limit - MAGI - which line on 1040
Replies: 6
Views: 336

Roth IRA Contribution limit - MAGI - which line on 1040

Hi,

For filing jointly ROTH IRA contribution, MAGI should be less than 183K. Am getting confused.

Which line on form 1040, it considers for MAGI? Is it line 22 or line 37? On which line I have to see that income is less 183K

Thanks,
FB
by FB01
Fri Feb 13, 2015 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: RSU Understanding question
Replies: 8
Views: 663

Re: RSU Understanding question

The only thing I would add is that some companies "sell" some of your shares at vesting to cover your tax (basically equivalent to withholding). So in your example, when shares worth 10,000 are vested, you may only receive shares worth 7,000 because 3,000 have been used to pay the income ...
by FB01
Fri Feb 13, 2015 9:49 am
Forum: Investing - Help with Personal Investments
Topic: RSU Understanding question
Replies: 8
Views: 663

Re: RSU Understanding question

SteveM wrote:Yes, you have it right.



Thanks for confirming.
by FB01
Fri Feb 13, 2015 5:51 am
Forum: Investing - Help with Personal Investments
Topic: I think I'm missing something about the backdoor roth
Replies: 46
Views: 6643

Re: I think I'm missing something about the backdoor roth

I am also in similar boat. This really helps.
by FB01
Fri Feb 13, 2015 5:18 am
Forum: Investing - Help with Personal Investments
Topic: RSU Understanding question
Replies: 8
Views: 663

RSU Understanding question

Hi, Correct me if my understanding is right for RSU's For e.g. My annual salary is 100k. In April 2014 I am given shares worth 40,000 ( 400 shares 100 dollars each) vesting 25% every year. So in April 2015 shares worth 10,000 are vested. Even though I don't sell the shares 10,000 dollars will show u...
by FB01
Thu Feb 12, 2015 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

Now that we've got that straight..... It seems for 2014 2015 for my wife Roth ira, I can open TIRA in Vanguard, transfer Roth ira amount to that account and then do the backdoor Roth ira. This I can do next year onwards also but for 5500 only (her Roth IRA) Yes, if by "transfer" you mean ...
by FB01
Thu Feb 12, 2015 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

Let's see if I have this right. MAGI for 2014 (the tax return that is due April 15) is less than $181k so His and Her Roth IRA contributions are ok for the 2014 contribution and do not need to be fixed. Right? MAGI for 2015 is expected to be more than $183k, but you made His and Her 2015 Roth IRA c...
by FB01
Thu Feb 12, 2015 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

retiredjg wrote:So are we talking about

His 2014 Roth IRA
Her 2014 Roth IRA
His 2015 Roth IRA
Her 2015 Roth IRA...?

Or just some of these?



Oops.. We are just talking about 2015 only as I think my MAGI will be more than 181k. My MAGI is below limit for 2014.
Extremly Sorry about the confusion.
by FB01
Thu Feb 12, 2015 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

It seems for 2014 for my wife Roth ira, I can open TIRA in Vanguard, transfer Roth ira amount to that account and then do the backdoor Roth ira. This I can do next year onwards also but for 5500 only (her Roth IRA) I thought we were talking about a contribution for 2015. Are you talking about a con...
by FB01
Thu Feb 12, 2015 11:52 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

- now for the next year also if mummy MAGI is more than 183k, I cannot contribute to Roth ira unless I move rollover Ira to 401k or pay prorata tax on all my iras. Correct for you. But your Rollover IRA does not affect your spouse. So your spouse could be doing back door contributions to Roth IRA e...
by FB01
Thu Feb 12, 2015 10:40 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

I loved Roth IRA. It seems only option I have is to move rollover to 401k. Maybe not. When your income goes back down next year, your MAGI may drop enough so that you can contribute directly to Roth IRA again. Hi Retiredj, Here is my conclusion. Correct me if I am wrong. 1) For 2014 as I contribute...
by FB01
Thu Feb 12, 2015 9:11 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

Ohhh.. What if I open a different Roth IRA and TIRA with different brokerage like Fidelity for next year? Can I do that or situation will remain same? Doesn't matter where the accounts are held. All TIRA's are considered to be one account (apart from inherited ones). Damn. I loved Roth IRA. It seem...
by FB01
Thu Feb 12, 2015 9:00 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

Am happy with the Vanguard options in my rollover Ira compared to my existing 401k. It seems I will pay tax and penalty rather than recharacteizing. Next year will open TIRA account and do backdoor ROTH Ira. As long as the rollover IRA is there, you will owe tax every time you do a backdoor Roth. I...
by FB01
Thu Feb 12, 2015 8:47 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

It looks like rkhusky has done a better job of explaining it than I did. :happy The bottom line is this - as long as you have that $40k Rollover IRA in the way, you can't contribute to Roth IRA this year if your RSU puts you over the MAGI limit. You can get the rollover IRA out of the way by -rolli...
by FB01
Thu Feb 12, 2015 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Roth to Traditional and then backdoor to Roth
Replies: 11
Views: 1204

Re: Roth to Traditional and then backdoor to Roth

If we now want to make backdoor Roth IRA contributions, would it be best to make those backdoor contributions to our Vanguard Roth IRA accounts on April 15th so that those contributions are considered for tax-year 2013? You've recharacterized your 2013 Roth IRA contributions to 2013 Traditional IRA...
by FB01
Thu Feb 12, 2015 6:58 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

Can you explain what do you mean by ', if there are other IRAs in the way, you might want to recharacterize back to taxable rather than tIRA.' Thanks If you convert IRA to Roth IRA, all of your IRAs are involved - everything named IRA except for Roth IRA or an inherited IRA in someone else's name. ...
by FB01
Wed Feb 11, 2015 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA
Replies: 1
Views: 236

Re: Rollover IRA

I have a regular brokerage account in Vanguard, and am transferring my rollover IRA from another institution in Vanguard too. My question is this: do I have to keep the same allocation in my IRA than in my brokerage account, or can I make it higher, since I do not plan to use it until I have to,whi...
by FB01
Wed Feb 11, 2015 11:07 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

So to re characterize do I need to open Non deductible IRA account in Vanguard and then transfer to the same Roth IRA account. In fact, if there are other IRAs in the way, you might want to recharacterize back to taxable rather than tIRA. Hi, I have a Rollover IRA as when I left my old company I mo...
by FB01
Wed Feb 11, 2015 10:48 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

So to re characterize do I need to open Non deductible IRA account in Vanguard and then transfer to the same Roth IRA account. To re-characterize, just call Vanguard and tell them that is what you want to do. They will figure the amount of earnings that need to go back with the contribution. It's a...
by FB01
Wed Feb 11, 2015 7:35 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

You can recharacterize the Roth IRA to a nondeductible IRA. You can then do a backdoor Roth in 2016. I tried to post this before, so I apologize if this ends up as a duplicate post. https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/ira-recharacterization-request.pdf "Reconvers...
by FB01
Wed Feb 11, 2015 7:26 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

This happened to me just this year (last tax year). I had to take out 11k and Vanguard sent a tax form showing the 5500 per account removed plus any interest gained. When you file taxes your software will then take an additional 10% fee on the earnings. The one warning- I removed mine in Dec 2014 a...
by FB01
Wed Feb 11, 2015 7:17 am
Forum: Investing - Help with Personal Investments
Topic: What if my MAGI exceeds limit for Roth IRA
Replies: 39
Views: 2599

Re: What if my MAGI exceeds limit for Roth IRA

This is what is called a "good problem," having unplanned high income. :happy I was in the same situation a few years ago. Vanguard instructed me to write a letter asking that my year 20xx contributions and their associated earnings be refunded based upon my income situation. Roth princip...

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