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Re: Friend's house burnt, Helping him start new financial li

my insurance policy is enough to remove any remains of my house, prep the lot and rebuild what I had all over again. Contents are covered for full new replacement value - it doesn't matter that my 26" TV is a 15 year old tube tv technology, I'll get the 2015 model flat panel fully covered, it d...
by N1CKV
Tue Apr 21, 2015 1:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Friend's house burnt, Helping him start new financial life?
Replies: 20
Views: 2186

Re: Estate Planning - what details does the attorney need?

When doing estates I always needed the SS number for the estate tax returns That was my thought, how else does the trustee get his job done quickly and easily. Having those numbers also completely and undeniably identifies the individuals and the assets being mentioned. Much more concrete than &quo...
by N1CKV
Tue Apr 21, 2015 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning - what details does the attorney need?
Replies: 11
Views: 987

Re: How to handle hunting shack title/liability

I would start researching insurance companies that offer specific liability insurance for hunting recreational properties. They do exist, I am part of a 7 member LLC that leases ~600 acres of land from a timber company and we carry a policy. You should be seeing about $180/yr per $1M in liability co...
by N1CKV
Mon Apr 20, 2015 1:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to handle hunting shack title/liability
Replies: 7
Views: 699

Re: Max out all retirement accounts?

How many employers do you have? Yes you should max your retirement account contributions, but the maximum contribution is across all retirement accounts so maxing one can limit your ability to contribute to others. What is the max for each account? lafder The post below your's kind of answers the q...
by N1CKV
Fri Apr 10, 2015 8:38 am
 
Forum: Investing - Help with Personal Investments
Topic: Max out all retirement accounts?
Replies: 9
Views: 1182

Re: Two Comma Club

That's awesome. congratulations on reaching that milestone. I hope to be there someday.
by N1CKV
Fri Apr 10, 2015 7:39 am
 
Forum: Investing - Help with Personal Investments
Topic: Two Comma Club
Replies: 66
Views: 8771

Re: making the switch to Ally Bank

So you can transfer between Ally and Vanguard. Makes sense but I assume this is once the Ally account is established. Is it possible to open the Ally account by transferring from Vanguard? Yes. When you sign up for the new Ally account you need to have your routing/ account number to your Vanguard ...
by N1CKV
Thu Apr 09, 2015 2:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: making the switch to Ally Bank
Replies: 51
Views: 4148

Re: Buy a condo for college student or rent?

Personally , bad idea. Tell her you will pay the same as a dorm and she can make her own arrangements. Think of it as a learning experience I agree with this. When I was in college my parents didn't foot the bill for my living arrangements. They didn't foot the bill for my tuition. I had a job. I l...
by N1CKV
Mon Apr 06, 2015 7:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Buy a condo for college student or rent?
Replies: 34
Views: 3075

Re: Car Engine Immobilizer Issue

[*]The owner's manual says that if you get locked out from your engine, there is a procedure for resetting so the engine can start again. Have you tried the procedure? Even though it's not stopping the vehicle from starting it should reset the system. You may have triggered the system by changing t...
by N1CKV
Wed Apr 01, 2015 1:49 pm
 
Forum: Personal Consumer Issues
Topic: Car Engine Immobilizer Issue
Replies: 11
Views: 947

Re: Best Bank for Checking Account

another +1 for Ally. Their checking account has everything free, no minimum, no deposit requirements. The instant transfers between checking and savings is nice, as is the free overdraft automatic transfers from savings (if you screw up the timing with those large monthly swings). The billpay is set...
by N1CKV
Tue Mar 24, 2015 8:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Best Bank for Checking Account
Replies: 29
Views: 2690

Re: Tax Efficient Withdrawal Strategies

retiredjg wrote:I think N1ckV has the right idea, but the wrong number. :happy

Thanks for the correction. I had Gross Income on my mind for some reason. :oops:
by N1CKV
Mon Mar 23, 2015 3:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax Efficient Withdrawal Strategies
Replies: 21
Views: 1962

Re: Regular contributions to taxable

PoeticalDeportment wrote:http://www.bogleheads.org/wiki/Backdoor_Roth_IRA

You might be able to go from 90% tax advantaged to 100%

I'll just repeat this earlier suggestion, just because it seems ignored when it really should be used when possible.
by N1CKV
Mon Mar 23, 2015 3:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Regular contributions to taxable
Replies: 10
Views: 1302

Re: Tax Efficient Withdrawal Strategies

In my opinion, on a back of the envelope calculation you should at a minimum, start rolling ~$49,500/ yr into a Roth 457b (if available), or to your Roth IRA for even cheaper fees (considering there should be plenty left in the 457b to get you until 59.5). This is assuming you could afford the taxes...
by N1CKV
Mon Mar 23, 2015 3:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax Efficient Withdrawal Strategies
Replies: 21
Views: 1962

Re: Georgia Retirement Income Exclusion

But wouldn't the exclusion apply only to State taxes and you would still be on the hook for Federal Taxes ? If so, it seems like a Roth would still make sense for most, right ? No, it would actually favor Trad. Don't forget Roth is funded with post tax dollars. I looked at the GA Doc and understand...
by N1CKV
Mon Mar 23, 2015 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Georgia Retirement Income Exclusion
Replies: 22
Views: 2537

Re: Splitting a Food Tab on a Combined Birthday Lunch

Birthday person gets a free meal, the other two split the check. My logic? I would probably not have gone "out to eat" for a $21 meal in the first place if not for going with these people. Knowing that, if it had been split in to two separate meals whereas I would have had to buy a share o...
by N1CKV
Mon Mar 23, 2015 2:35 pm
 
Forum: Personal Consumer Issues
Topic: Splitting a Food Tab on a Combined Birthday Lunch
Replies: 54
Views: 3897

Re: "Extended" Family Discount?

terran wrote:I don't know about you, but I've found that giving deals based on relationships (not family, but still) ends up with clients who are more of a pain than those who are charged a full rate.

THIS

Every time I've tried to help someone out it seems like it comes around and bites me in the behind.
by N1CKV
Fri Mar 20, 2015 3:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Extended" Family Discount?
Replies: 9
Views: 805

Re: Whats a good Pistol to buy?

You've got several good suggestions above. I prefer the striker fired pistols (Glock, S&W M&P series, Sprigfield XD), but there is also a strong case for a revolver sometimes. Mainly I'm posting to suggest that you read gun laws for any state you plan to travel in. What may be legal in one s...
by N1CKV
Fri Mar 20, 2015 1:39 pm
 
Forum: Personal Consumer Issues
Topic: Whats a good Pistol to buy?
Replies: 112
Views: 8955

Re: How to mortgage my condo?

What you are looking for is a Home Equity Loan. To get one research rates online and when you find one you like hit the "apply" button. They'll get the preliminary info on the application and someone will contact you about other details needed and a time frame to complete the loan.
by N1CKV
Fri Mar 20, 2015 1:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to mortgage my condo?
Replies: 2
Views: 400

Re: Does your CPA/Tax Person help with reducing your taxes?

A person with a CPA does not necessarily know everything about personal income tax. Personal income tax is only a fraction of the many things studied for the exam. Expecting an accountant to know the entire Internal Revenue Code of 1986 like the back of their hand is ridiculous. I know several CPAs ...
by N1CKV
Fri Mar 20, 2015 1:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does your CPA/Tax Person help with reducing your taxes?
Replies: 66
Views: 5778

Re: Pet insurance?

no insurance here. My dog has had several surgeries, none of which would gave been covered except for the highest priced plans (hereditary condition exceptions). Out of curiosity I ran the numbers, I would have came close to paying in premiums what I paid in cash for the surgeries. With the insuranc...
by N1CKV
Sat Mar 14, 2015 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Pet insurance?
Replies: 32
Views: 2020

Re: 15 or 30 year mortgage?

start with reading the WIKI for "Managing a Windfall"
https://www.bogleheads.org/wiki/Managing_a_windfall
by N1CKV
Thu Mar 12, 2015 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: 15 or 30 year mortgage?
Replies: 37
Views: 2954

Re: Using cellphone from Mexico

here's a way to do it: http://www.att.com/shop/wireless/international/roaming.html Read up on the costs, plans, and other details available to use your current phone as is and plan accordingly. In order to get a Mexican SIM card and use it in your phone your phone will have to be unlocked by the car...
by N1CKV
Thu Mar 12, 2015 8:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Using cellphone from Mexico
Replies: 8
Views: 857

Re: Bonus received. But its not what was agreed upon. Advi

Questioning the missing $500 was reasonable, pressing the issue isn't. You need to pick your battles in life, this one isn't worth it.
by N1CKV
Thu Mar 12, 2015 8:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Bonus received. But its not what was agreed upon. Advice?
Replies: 61
Views: 5286

Re: Replacing [Oil] Filters: Time vs. Usage

Always change your oil when you change your filter. Your oil filter is always full of oil (the upside down ones have check valves to keep them from draining). This means when you change your oil you are leaving an excessive amount of old oil in the vehicle. That oil is contaminated with unburnt fuel...
by N1CKV
Tue Mar 10, 2015 10:20 am
 
Forum: Personal Consumer Issues
Topic: Replacing [Oil] Filters: Time vs. Usage
Replies: 41
Views: 2949

Re: Poll: Do you consider mortgage payments an investment?

One of the major issues I see with these threads is that people refuse to realize that the home purchase and the mortgage payment are two totally different things. On the day you went to closing you told the bank that you wanted to purchase this house and you would like to borrow some money from the...
by N1CKV
Tue Mar 10, 2015 8:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Do you consider mortgage payments an investment?
Replies: 58
Views: 4026

Re: Does My Daughter Need A Prenup?

Maybe the laws are different in your state, but I really don't see where you have stated anything that's relevant for that decision. I am speaking in terms of living in a community property state. 1. Does she have any substantial assets/ net worth right now? If yes she may want to segregate that so ...
by N1CKV
Fri Mar 06, 2015 9:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Does My Daughter Need A Prenup?
Replies: 175
Views: 6566

Re: How is your Betterment Account performing?

Interesting. I'm not in "Betterment", though I've seen the ads. I have money tied up in Vanguard's Total Stock Market Index Fund. It's done very well in the recent past. (I also have some in Total Bond Market Index that's been largely stagnant in the same time frame.) What exactly is it th...
by N1CKV
Wed Mar 04, 2015 2:33 pm
 
Forum: Investing - Theory, News & General
Topic: How is your Betterment Account performing?
Replies: 17
Views: 1904

Re: Generating pre-retirement income from portfolio, and mor

I don't see why he would not use some of the life insurance proceeds to get rid of the mortgage completely, the impact would be huge for his day to day cash flow. It might even fix it to where he could cash flow the remaining expenses (less college, which again could come from the life insurance pro...
by N1CKV
Tue Mar 03, 2015 2:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Generating pre-retirement income from portfolio, and more
Replies: 7
Views: 1000

Re: Do you consider mortgage payments as savings?

I count mortgage payments as an expense. I count mortgage loan balance as a liability when calculating net worth. So making mortgage payments help net worth . You are still confused. Making a mortgage payment increases your equity in the home. It does nothing for your overall net worth. Actually it...
by N1CKV
Tue Mar 03, 2015 9:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 21592

Re: Claiming theft on tax return

I was thinking that mother in law's homeowner's would cover her house guests? Maybe I'm crazy. I know it wouldn't cover a tenant, but I thought my homeowner's covers items belonging to others temporarily at my home. You might look in to that if she is filing a claim.
by N1CKV
Mon Mar 02, 2015 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Claiming theft on tax return
Replies: 4
Views: 552

Re: Trying to avoid extra $100/mo. to keep min balance on es

The easy way is to contact your home insurer and have them cancel your current policy exactly 6 months from when your property taxes are due and have them start a new policy on the same date. It will take a year for everything to even out, but from that point forward you will have the minimum amount...
by N1CKV
Mon Mar 02, 2015 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trying to avoid extra $100/mo. to keep min balance on escrow
Replies: 13
Views: 753

Re: Old car insurance

for the question of keeping comprehensive and dropping collision:
I haven't but would because I'm willing to take personal responsibility for my own actions, but I don't want the risk from an act of nature or uninsured/underinsured or hit and run driver.
by N1CKV
Sat Feb 28, 2015 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 3034

Re: Do you consider mortgage payments as savings?

if you consider it savings because it increases net worth you are wrong. You did not increase net worth by making the payment. You used cash from your net worth to decrease a liability. It's neutral to net worth. It's merely an exchange of asset type.

edit: post above me beat to it
by N1CKV
Sat Feb 28, 2015 11:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 21592

Re: Car Accident in Front Yard

Regardless, the vehicle caused property damage including damage to your yard and deposited debris.
That's what liability insurance (on the car) is for. I don't see why any of the other details (intoxicated or not, friend's car, etc.) would make any difference.
by N1CKV
Fri Feb 27, 2015 10:55 am
 
Forum: Personal Consumer Issues
Topic: Car Accident in Front Yard
Replies: 34
Views: 3156

Re: Are remote starters bad for cars?

I have factory remote start on my truck. It comes in handy when I'm not at home and have ice on my windows. The beauty of factory installed remote starter is that it's fully integrated with the vehicle. No matter what I leave my climate controls on it changes them to appropriate settings for the con...
by N1CKV
Fri Feb 27, 2015 8:53 am
 
Forum: Personal Consumer Issues
Topic: Are remote starters bad for cars?
Replies: 42
Views: 3266

Re: Old car insurance

Anyone have any insight on how to find out what the 'max payout' would be on a collision insurance claim for a particular vehicle? Let me clarify, do they give you Kelly Blue book value at 'Retail' or at 'Trade In'? Big difference there. Or do they use another third party tool for this evaluation (...
by N1CKV
Thu Feb 26, 2015 1:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 3034

Re: HSA Account Was Compromised

Your 1099 should not have been your first indication of excessive distributions. What were you monthly statements showing? Were you periodically checking your account online? I certainly wouldn't have taken the actions you took until I reviewed the distributions in my account to see what exactly wh...
by N1CKV
Wed Feb 25, 2015 9:17 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA Account Was Compromised
Replies: 8
Views: 805

Re: Online Bill Pay question

I know with Ally I can have the online bill pay automatically receive the electronic bill and it sets up a automatic ACH payment to pay it in full 3 days before the due date. For some reason my Capital One 360 account does allow a "pay in full" option, so you may or may not have this optio...
by N1CKV
Thu Feb 19, 2015 9:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Online Bill Pay question
Replies: 4
Views: 455

Re: Credit Score got hit hard

Quickfoot, Can Mint or some software like that be programed to your laptop or phone to give you a list each month that you can check or auto check to see if things have been paid or billed correctly? Mint can be used in this way, kind of. It automatically downloads transactions. It can instantly sh...
by N1CKV
Thu Feb 19, 2015 8:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Credit Score got hit hard
Replies: 41
Views: 4026

Re: Prorating Tax Refund with Dear Wife

Based on the numbers you gave, it looks like with just her income and deductions included she is owed a refund of $3336 (2267 plus $1069). You by yourself OWE $834 to Uncle Sam (since that's how much her refund is reduced by when your info is added). So technically you need to give her the whole re...
by N1CKV
Wed Feb 18, 2015 10:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Prorating Tax Refund with Dear Wife
Replies: 18
Views: 1809

Re: Help with Inheritence management & high cost 401(k) opti

First question:
Did you make a maximum contribution for your 2014 IRA? If not, why? (you have until April 15, 2015)
by N1CKV
Fri Feb 13, 2015 2:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Inheritence management & high cost 401(k) options
Replies: 7
Views: 601

Re: Traditional IRA to Roth. What do I do with 1099R

The 2013 tIRA was non-deductible. I do not have any form 8086. I am trying to contact the CPA who filed my taxes last year to get this or figure out where an error might be. If I get the form 8086 what am I supposed to do with it in relation to the 1099R I currently have, What form do I have to rep...
by N1CKV
Thu Feb 12, 2015 3:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA to Roth. What do I do with 1099R
Replies: 15
Views: 1091

Re: Deferred Compensation

Is this a qualified plan that can be rolled in to an IRA? (like a 457b?) If so what age would you retire? If it's after 59.5 then take a lump sum rolled over to a tIRA and you can manage the tax as you go. If you will be under 59.5, will you need the money before 59.5? If so then it's the same answer.
by N1CKV
Thu Feb 12, 2015 1:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Deferred Compensation
Replies: 9
Views: 707

Re: Traditional IRA to Roth. What do I do with 1099R

Are you saying the 2013 tIRA contribution was a non-deductible contribution? If so you should have form 8606 from 2013 and you need to use it again in 2014.
http://www.irs.gov/uac/Form-8606,-Nondeductible-IRAs
by N1CKV
Thu Feb 12, 2015 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA to Roth. What do I do with 1099R
Replies: 15
Views: 1091

Re: TaxAct: Phish or ID Theft?

It sounds like at least a phone call or email to TaxAct is warranted. I thought about that but I would prefer to keep my name and SSN out of their system. I'm not sure what they would tell me about the name that was inserted in this email since it isn't my name and the name I registered with isn't ...
by N1CKV
Fri Feb 06, 2015 4:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: TaxAct: Phish or ID Theft?
Replies: 12
Views: 919

Re: Tax help for new Boglehead

as far as contributions to an IRA, just print out the screen showing those figures, you don't need an actual form, just the number.

I'm puzzled why you would even bother paying someone to do something as simple as completing a tax return when you can use the same software online for free.
by N1CKV
Fri Feb 06, 2015 9:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax help for new Boglehead
Replies: 4
Views: 440

Re: Paying for credit reports?

I had the same thing happen last year when I checked my reports. I just mailed in the request and received the reports by mail a few weeks later.
by N1CKV
Thu Feb 05, 2015 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying for credit reports?
Replies: 13
Views: 490

Re: Credit for an Inaccurate Bill

That's ridiculous. I would dispute the $15 charge. Notify the Credit Card company that this company is continuing to make unauthorized charges to your account. Have them cancel the card number and issue a new number.
by N1CKV
Mon Feb 02, 2015 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit for an Inaccurate Bill
Replies: 18
Views: 1357

Re: W-4 - Change Marital Status?

Without exact amounts involved it's hard to say. Your best bet is to find a good paycheck calculator online and run the numbers through to see what would be withheld on various statuses. At that point either calculate your final income tax manually or use Tax Caster for a ballpark of the number and ...
by N1CKV
Thu Jan 29, 2015 8:36 am
 
Forum: Personal Finance (Not Investing)
Topic: W-4 - Change Marital Status?
Replies: 7
Views: 593

Re: New car safety features

I wouldn't purchase a new vehicle just for new safety features. (my current truck is 6 years old) *I really like the idea of blind spot indicators. I drive a full sized truck and it's hard to see the little gocarts zipping around in traffic sometimes. I don't have the blind spot indicators, but woul...
by N1CKV
Tue Jan 27, 2015 11:16 am
 
Forum: Personal Consumer Issues
Topic: New car safety features
Replies: 70
Views: 3995
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