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Re: Fixing an IRA Mixup

Thanks for the info, everyone. Unfortunately I was unable to find the original 2011 tax documents. I was able to find every year back to 2005 except 2011. Go figure. I was able to get the form 5498 from the IRA custodian's website and it shows a rollover amount in 2011 with the IRA box checked (not ...
by Kosmo
Fri Dec 19, 2014 9:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fixing an IRA Mixup
Replies: 10
Views: 944

Re: HOA Townhouse Reserve Amount

What are you responsible for paying for? Roofs, roads, sidewalks, fences, ... When will these need replacing? How much will they cost? You can figure out how much you can expect to pay per year, how much you're adding to the fund each year, and then figure out how many years of expenses you should k...
by Kosmo
Thu Dec 18, 2014 9:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: HOA Townhouse Reserve Amount
Replies: 9
Views: 764

Re: Humidifiers?

I've got 2 of these: http://www.amazon.com/Incorporated-V3700-Starry-Night-Humidifier/dp/B004AUZV46/ One in each of my kids' rooms, and a similar one (without a nightlight) in our bedroom. The low setting is sufficient to keep everyone nasally comfortable. Cool mist was recommended by our doctors, b...
by Kosmo
Sun Dec 14, 2014 9:12 pm
 
Forum: Personal Consumer Issues
Topic: Humidifiers?
Replies: 14
Views: 963

Re: How to automatically transfer tenants rent to my account

The tenant should set this up at her bank. It's much easier to push money to other people than pull. Wells Fargo can do what you want.
by Kosmo
Sat Dec 13, 2014 5:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to automatically transfer tenants rent to my account?
Replies: 22
Views: 2001

Re: Are you a Morning Person?

The earlier you get up the more you can accomplish in a day. Especially if you like using natural light. I find that there are increasingly more distractions impeding me getting things done the later it goes into the evening/night.
by Kosmo
Thu Dec 11, 2014 11:24 am
 
Forum: Personal Consumer Issues
Topic: Are you a Morning Person?
Replies: 15
Views: 1138

Re: Who Paid for the wedding?

I got married in 2012. My wife and I paid for the wedding. My parents paid for the rehearsal dinner.
by Kosmo
Sat Dec 06, 2014 10:54 pm
 
Forum: Personal Consumer Issues
Topic: Who Paid for the wedding?
Replies: 94
Views: 6496

Re: Fixing an IRA Mixup

Thanks, Epsilon Delta. I do have the tax returns. In my wife's 2011 return line 16b contains the amount of the rollover, so it was included in taxable income. All else in your questions is as expected. Would the proper amendment to be to remove the income from line 16b or include the contribution on...
by Kosmo
Tue Dec 02, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Fixing an IRA Mixup
Replies: 10
Views: 944

Fixing an IRA Mixup

In 2011 my wife rolled over an old 401k into an IRA. We intended for it to be a Roth IRA, but some line of communication got mixed up between me, her, and the custodian. So instead of a Roth IRA she has a traditional IRA. I just discovered this over the weekend...I'm not quite sure how I missed that...
by Kosmo
Mon Dec 01, 2014 10:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fixing an IRA Mixup
Replies: 10
Views: 944

Re: Best 529 Plan

I use New York.
by Kosmo
Thu Nov 27, 2014 12:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best 529 Plan
Replies: 15
Views: 1649

Re: What is the present value of future payments?

I'm trying to simulate how an annuity with a guarantee withdrawal benefit would have performed during period 1968 to 1997. This was the worst retirement period according to the 1992 Bengen study that gave us the 4% withdrawal rate. Unrelated to the OP...how can a study done in 1992 use data from 19...
by Kosmo
Thu Nov 27, 2014 12:13 pm
 
Forum: Investing - Theory, News & General
Topic: What is the present value of future payments?
Replies: 8
Views: 743

Re: When do you feel comfortable financially to have kids?

Money is really low on the list. First on the list is can you handle the responsibilities of being a parent? Are you willing to put the kid(s) first and everything else second? Are you going to do whatever it takes to make sure they are healthy, happy, and safe? If you answered yes, then you'll find...
by Kosmo
Wed Nov 26, 2014 10:15 pm
 
Forum: Personal Consumer Issues
Topic: When do you feel comfortable financially to have kids?
Replies: 59
Views: 4333

Re: 401k loan to pay off CC & student debt

Check with Chase or Citi for a 0% intro rate on balance transfers. If you're eligible, you might get 12-18 months with no interest. And if there's still a balance, you can do it again.
by Kosmo
Sun Nov 23, 2014 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k loan to pay off CC & student debt
Replies: 19
Views: 2228

Re: Do you use a phone book?

Layers of torn out pages work nicely as packing material for glasses and dishes. I've also used them for sacrificial backing material when cutting things with razor knives.
by Kosmo
Sun Nov 23, 2014 6:00 pm
 
Forum: Personal Consumer Issues
Topic: Do you use a phone book?
Replies: 51
Views: 2137

Re: A week in Tuscany: April 2015. Suggestions?

We just took such a trip in October. We were in Florence for 3 days, then in Sarteano for 8 days. We were there for a wedding, but we took day trips to the surrounding towns. The towns we enjoyed the most were Volterra and Siena. The cathedral in Siena is the most impressive church I've ever seen. A...
by Kosmo
Sat Nov 22, 2014 7:45 pm
 
Forum: Personal Consumer Issues
Topic: A week in Tuscany: April 2015. Suggestions?
Replies: 22
Views: 1583

Re: Poll: How much $ for childcare?

When my kids went to daycare at that age it was about $900 per month for 3 days a week. This was about a year ago. Since they've gotten older is about the same price for full time.
by Kosmo
Wed Nov 19, 2014 6:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How much $ for childcare?
Replies: 20
Views: 2147

Re: getting paid for Excel work

Deliver it password protected. He gets the password when you get the cash.
by Kosmo
Tue Nov 18, 2014 8:22 pm
 
Forum: Personal Consumer Issues
Topic: getting paid for Excel work
Replies: 9
Views: 2156

Re: How often do you go out to dinner?

Dinners out, very rarely. Maybe 1 or 2 every 3 months. Lunches out, maybe 3-4 a month, on the weekend.
by Kosmo
Mon Nov 17, 2014 2:34 pm
 
Forum: Personal Consumer Issues
Topic: How often do you go out to dinner?
Replies: 60
Views: 5628

Re: Could you rent out your house?

According to the Philly news outlet, hotels within 10 miles are already almost booked. I heard a similar thing on the radio this morning. They estimate about 2 million people will attend mass on the Ben Franklin parkway. The entire population of Philadelphia is only 1.5 million. I'd consider rentin...
by Kosmo
Mon Nov 17, 2014 2:06 pm
 
Forum: Personal Consumer Issues
Topic: [Should I] rent out [my] house [for a 3-day event]?
Replies: 68
Views: 5281

Re: Hoa resurrection

For the love of all that is holy, put down the resurrection of the HOA and make sure it doesn't happen. Jam them up in technicalities and bury it. HOA's attract busy-bodies with nothing better to do than stick their noses in other people's businesses. The quality of life will go down for you. They ...
by Kosmo
Sun Nov 16, 2014 8:14 am
 
Forum: Personal Finance (Not Investing)
Topic: HOA resurrection
Replies: 35
Views: 4142

Re: Waitress giving me discount - ethical question

Just up the tip by the cost of the wings you expected to pay. Make sure every time you go there you get this waitress. Eat, drink, and be happy.
by Kosmo
Sat Nov 15, 2014 4:48 pm
 
Forum: Personal Consumer Issues
Topic: Waitress giving me discount - ethical question
Replies: 62
Views: 7594

Re: Landlord wants us to sign an entirely new contract!

Did you honestly think the landlord was going to take care of water/sewage/trash? I cover water, sewer, and trash for my rental townhouse. I priced it into the rent. I don't think it's terribly unusual for the landlord to cover that, at least in this area. The primary reason is that the township ca...
by Kosmo
Fri Nov 14, 2014 10:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Landlord wants us to sign an entirely new contract!
Replies: 51
Views: 7841

Re: Vacation in Quebec City

My honeymoon was to Quebec City in January of 2012. The food was delicious. Steak, elk, venison, rabbit...meats of all types! I'd recommend a food tour. The one we took was about a 3 hr walking tour and we stopped at 5-6 places including seafood, maple products, crepes, and chocolate. We took anothe...
by Kosmo
Thu Nov 13, 2014 8:48 pm
 
Forum: Personal Consumer Issues
Topic: Vacation in Quebec City
Replies: 18
Views: 1294

Re: Tax assessment of housing relative to income

Tax assessed value is ~1.3x yearly income. Purchase price was ~2.1x income (about 2 years ago). Current value is now ~2.8x income.

I imagine this data could be skewed by the recency of the tax assessment.
by Kosmo
Wed Nov 12, 2014 9:52 am
 
Forum: Personal Consumer Issues
Topic: Tax assessment of housing relative to income
Replies: 7
Views: 340

Re: Your car(s) are equal to how many months income

2005 Ford and 2008 Hyundai. Both have about 120k miles. Combined value is about 60% of monthly gross. Car values are low, income is not high.

I'm not sure what one would do with this data.
by Kosmo
Wed Nov 12, 2014 9:45 am
 
Forum: Personal Consumer Issues
Topic: Your car(s) are equal to how many months income
Replies: 93
Views: 6248

Re: Dependent care FSA

pshonore wrote:Believe the max child care expense is $6K assuming two eligible kids - that leaves $1K for the credit or $200 additional

Yes, this is how it works.
by Kosmo
Tue Nov 11, 2014 6:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dependent care FSA
Replies: 6
Views: 397

Re: Pay for Release from Escrow

Thanks, everyone. I don't think it's worth it either. According to their letter, the fee is a fixed percentage of the original loan balance, so I don't believe it will decrease or go away. The escrow account doesn't pay interest.
by Kosmo
Mon Nov 10, 2014 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Pay for Release from Escrow
Replies: 5
Views: 661

Re: math equation I can't figure out

Oicuryy wrote:Maybe he solved this for g.

1080=451+(0.15-0.09)×451 ÷ (0.09 - g)

Ron


This gives 0.047 = 4.7%. It's not complicated math.
by Kosmo
Sun Nov 09, 2014 7:45 pm
 
Forum: Investing - Theory, News & General
Topic: math equation I can't figure out [Earnings formula]
Replies: 6
Views: 1620

Re: 1276% toll admin fee from Dollar. 86% of rental cost

I got hit with fees like this once when my personal EZ Pass didn't register at the toll both when I was in a rental car. Something like a $15 fee plus a $1.50 toll. It's annoying, but it was also 100% my fault. This was before they started putting the EZ Pass in the rentals. The driver is responsibl...
by Kosmo
Sun Nov 09, 2014 10:53 am
 
Forum: Personal Finance (Not Investing)
Topic: 1276% toll admin fee from Dollar.
Replies: 89
Views: 9610

Re: Messy baby restaurant etiquette

I've got a 1 and a 2 year old. We limit ourselves to kid-friendly restaurants. Any place with a tablecloth is off limits. But we don't eat out often, maybe once a week on Saturday or Sunday for lunch. I generally clean up anything they dropped on the floor and give the table a quick wipe down with a...
by Kosmo
Sun Nov 09, 2014 10:42 am
 
Forum: Personal Consumer Issues
Topic: Messy baby restaurant etiquette
Replies: 75
Views: 4766

Pay for Release from Escrow

I currently escrow my property taxes with my mortgage company (I do not escrow insurance). I inquired about being released from escrow and paying the taxes myself. They responded that I could do that but I would have to pay a one-time fee of $600 to cover the costs of them monitoring me to make sure...
by Kosmo
Sun Nov 09, 2014 10:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Pay for Release from Escrow
Replies: 5
Views: 661

Re: What do you set your thermostat to (in F)?

I like about 66-68. The wife likes it warmer. And she thinks the kids do too, but she's wrong. Anyways, it's set to about 72.
by Kosmo
Tue Nov 04, 2014 6:11 pm
 
Forum: Personal Consumer Issues
Topic: What do you set your thermostat to (in F)?
Replies: 81
Views: 4618

Re: Ashley Furniture

We ordered a dining room table and chairs from them a few weeks ago. They haven't been delivered yet, so I can't speak to quality. But Ashley was the only store where we found a table of the size and style we were looking for.
by Kosmo
Mon Nov 03, 2014 11:07 pm
 
Forum: Personal Consumer Issues
Topic: Ashley Furniture
Replies: 42
Views: 3440

Re: Advice for offer on ovepriced short sale house

Do you have a buyers agent? Ask what a reasonable offer would be. Find out if anyone knows what type of offers this bank will accept. If all signs point to the house being worth $240k, offer around $210k. That should at least open up negotiations. We bought a short sale about 2 years ago. Asking was...
by Kosmo
Sun Nov 02, 2014 8:00 pm
 
Forum: Personal Consumer Issues
Topic: Advice for offer on ovepriced short sale house
Replies: 14
Views: 1351

Re: A Little Common Core Math problem

I think solving 2 simultaneous equations is above a fourth grade math level. Without knowing the fundamentals of algebra, testing the given possible solutions is a good way to solve it. However, this is a simple problem and anyone with even some high school education should be able to solve in the p...
by Kosmo
Thu Oct 30, 2014 1:30 pm
 
Forum: Personal Consumer Issues
Topic: A Little Common Core Math problem
Replies: 97
Views: 2942

Re: How to save tax for 401k in changing your jobs

Depending on the different plans' investment options and rules, you could:
1) leave it, or
2) roll it over into the new company's 401k, or
3) roll it over to a traditional IRA.

None of these have a tax hit.
by Kosmo
Wed Oct 29, 2014 11:49 am
 
Forum: Investing - Help with Personal Investments
Topic: How to save tax for 401k in changing your jobs
Replies: 5
Views: 509

Re: How often do you change your car's oil?

Every 5000 miles like the manual says, give or take a few hundred. I doubled the amount of recommended time and miles. I think the only purpose of the oil is to cool down the engine, which does not need new oil. Technically the engine is cooled via the radiator. :wink: The oil is there for lubricati...
by Kosmo
Fri Oct 24, 2014 1:10 pm
 
Forum: Personal Consumer Issues
Topic: How often do you change your car's oil?
Replies: 168
Views: 12286

Re: Gas stove features

Certainly don't go with a low end model that has the same BTU output on all the burners. You want the power burner and the simmer burner. Also get one with a continuous grate instead of individual grates on the burners. It gives a good surface to cook on with larger pans and to move things to an int...
by Kosmo
Sun Oct 19, 2014 7:48 pm
 
Forum: Personal Consumer Issues
Topic: Gas stove features
Replies: 12
Views: 1091

Re: Is it possible to have a favorite movie

The Godfather. Followed up by Part II.
by Kosmo
Fri Oct 17, 2014 11:11 am
 
Forum: Personal Consumer Issues
Topic: Is it possible to have a favorite movie
Replies: 82
Views: 3322

Re: Where to start work as an engineering major?

At least in the U.S., military experience on a resume will result in no interview in some places. It's interpreted as a bureaucratic mindset and brings up political issues. I'm not sure what line of work you're in, but I've found the exact opposite of what you say. My company (and those in the indu...
by Kosmo
Wed Oct 01, 2014 12:01 pm
 
Forum: Personal Consumer Issues
Topic: Where to start work as an engineering major?
Replies: 32
Views: 3002

Re: Cast Iron Skillet Cooking

i wasn't looking for them, but i saw this at costco yesterday. http://www.costco.com/Lodge-2-Pack-Cast-Iron-Skillets-And-2-Silicone-Mitts.product.100116102.html Bought these in store yesterday. I had been looking at them for a while, but this thread finally convinced me they're worth it. My wife no...
by Kosmo
Thu Sep 25, 2014 12:18 pm
 
Forum: Personal Consumer Issues
Topic: Cast Iron Skillet Cooking
Replies: 108
Views: 11214

Re: POLL: Would you rather work half as long or half as ofte

Option 2. I need to keep busy, but I enjoy keeping busy in a variety of ways. If I could alternate X weeks work, then X weeks of leisure time that would satisfy my need for staying busy and having variety. Leisure time for me is primarily working on projects around the house, playing rugby, and trav...
by Kosmo
Thu Sep 25, 2014 11:47 am
 
Forum: Personal Consumer Issues
Topic: POLL: Would you rather work half as long or half as often?
Replies: 68
Views: 4516

Re: What Book Are You Currently Reading? Part VI

Citizen Soldiers by Stephen E. Ambrose. I'd recommend this book to anyone, but sometimes it feels a little disjointed. While the stories and anecdotes from individual soldiers are the focus of the book, sometimes they didn't always align well with the larger narrative of the end of WWII in Europe, ...
by Kosmo
Mon Sep 22, 2014 12:15 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 254
Views: 30423

Re: Investment Property

bogleblitz wrote:I go by the 10% rule. so a $329k house should get $3,290 in monthly rent.

Do you mean 1%?

OP- I would not buy a new construction house as a rental. Especially at that price. Also, why would you put 40% down? Is that to make it cash flow positive?
by Kosmo
Fri Sep 19, 2014 12:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment Property
Replies: 10
Views: 859

Re: Rental property with in-laws: please help!

P.S. I would tell your relatives that you don't plan on putting a penny in this property and that you will default if and when they stop covering the deficit. I suspect they are feeling guilty for the horrible thing they have done, and would feel even worse if her credit is destroyed, so they will ...
by Kosmo
Thu Sep 18, 2014 4:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 8257

Re: What is the best balance transfer card?

I love those responses to try the Slate card. The OP said they already have a Slate card, but I guess there is no harm in getting another one or two or three. However, a general rule of balance transfers is that one cannot transfer balances from the same company to a new card at that company. You c...
by Kosmo
Thu Sep 18, 2014 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is the best balance transfer card?
Replies: 12
Views: 491

Re: What is the best balance transfer card?

Try the chase slate card. But they may not give you a high enough limit to transfer the whole thing.
by Kosmo
Thu Sep 18, 2014 12:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is the best balance transfer card?
Replies: 12
Views: 491

Re: Meetings over the lunch hour, taboo?

I am 0% in favor of lunch meetings. I do not schedule meetings that overlap any portion of 11-1. I only attend meetings in this time frame if it allows sufficient time for me too eat. My company will not spring for food at lunch time meeting... so my love of eating and disdain of meetings makes it a...
by Kosmo
Thu Sep 18, 2014 9:48 am
 
Forum: Personal Consumer Issues
Topic: Meetings over the lunch hour, taboo?
Replies: 46
Views: 4053

Re: Do you plan trips on your own or use a TA?

We generally plan trips on our own. However, for an upcoming trip to Italy, we booked airfare, hotel, and a rental car through AAA. We paid a small premium for their services vs booking directly, but we saved hours and hours of finding the accommodations that met our needs. Certainly we plan daily e...
by Kosmo
Wed Sep 17, 2014 1:22 pm
 
Forum: Personal Consumer Issues
Topic: Do you plan trips on your own or use a [travel agent]?
Replies: 36
Views: 1616

Re: Help with a large business decision

We do not work 40 hour weeks or have a physical location other than to store things. We travel to our job sites which are all over the US and while we are there we work 80-90 hour weeks. Currently we are at our jobs for anywhere from 2-4 weeks at a time with 10 people there. I am thinking with the ...
by Kosmo
Tue Sep 16, 2014 11:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with a large business decision [capital expenditure]
Replies: 36
Views: 1436

Re: Help with a large business decision

This equipment would essentially wipe out the profits from my best year ever but it would without a doubt enable me to do each of my jobs in the future in about 1/2 the time and with 2/3 the people I have now. This equipment would replace the equipment I have now which is about 15 years old and ine...
by Kosmo
Tue Sep 16, 2014 9:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with a large business decision [capital expenditure]
Replies: 36
Views: 1436
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