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Re: Why invest in bonds?

If you are willing to assume that (1) There won't be another crash in the next 5 years , and that (2) The next crash will be no deeper than 50% then it appears safe to put all your money in stocks, Have fun. BTW, you can have whatever opinion you'd like, but I can tell you that even if there is not...
by Paul78
Sun Aug 31, 2014 5:40 pm
 
Forum: Investing - Theory, News & General
Topic: Why invest in bonds?
Replies: 88
Views: 4464

Re: Do you take all of your allowed paid vacation time?

I get the equivalent of 312 hours of PTO a year two different pots 104 hours of SL per year with no maximum carryover (ie you could have 2000 hours stocked up if you worked a little over 19 years without calling in SL once) 208 hours of AL per year with a max carry over of 685 hours at the end of th...
by Paul78
Fri Aug 22, 2014 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you take all of your allowed paid vacation time?
Replies: 88
Views: 5631

Re: Savings Percentage [rules of thumb]

Mine is pretty simple spend a third give a third to the government put a third in retirement accounts In terms of income I am in a pretty simple zone. I can easily max out my 17.5k TSP, 5.5k roth ira, 3.3k HSA (may or may not end up being for retirement). But after I max all those out I really only ...
by Paul78
Tue Aug 19, 2014 2:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 5358

Re: gifting money, and smoking

1. The conversation about quitting smoking should not be involved in this situation. This situation is about helping them out in their current financial jam. 2. You are doing ok for yourself financial (at the very least you have a job, some savings, and are able to provide your basic needs). Living ...
by Paul78
Tue Aug 19, 2014 2:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: gifting money, and smoking
Replies: 30
Views: 2403

Re: gifting money, and smoking

Have you asked your parents in the past to quit smoking? Have your parents tried to quit smoking on their own? If yes, what has triggered their resumption of the habit? Would you consider paying for their smoking cessation courses? Victoria My step dad smokes. My mother does not. He tried quitting ...
by Paul78
Tue Aug 19, 2014 2:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: gifting money, and smoking
Replies: 30
Views: 2403

Re: Made too much money (roth ira contribution)

- convert the entire $6,000 back to the roth IRA. For practical purposes the $5,500 contribution is not tax but the $500 earnings IS taxed. It doesn't have to be taxed as you need to roll other IRA amounts to the TSP you can just roll the 500 bucks of earnings too. So I can just recharacterize the ...
by Paul78
Tue Jul 15, 2014 5:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

- convert the entire $6,000 back to the roth IRA. For practical purposes the $5,500 contribution is not tax but the $500 earnings IS taxed. It doesn't have to be taxed as you need to roll other IRA amounts to the TSP you can just roll the 500 bucks of earnings too. So I can just recharacterize the ...
by Paul78
Tue Jul 15, 2014 8:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

Do your projections for MAGI include the Traditional TSP tax deduction assuming you're making Traditional TSP contributions? Traditional TSP contributions reduce AGI and MAGI (for Roth IRA purposes). Roth TSP contributions do not reduce AGI and MAGI (for Roth IRA purposes). accounting for $17,500 i...
by Paul78
Mon Jul 14, 2014 8:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

Do you have any moves before year end that you can make to reduce your AGI and MAGI to help stay under that 114K MAGI ? If you're contributing to Roth TSP, maybe switch to Traditional TSP. Have you maxed out HSA contributions if you have HSA eligible High Deductible Health Plan (HDHP)? Don't work a...
by Paul78
Mon Jul 14, 2014 8:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

Even though the amount I will recharacterize will be above the $5,500 (accounting for earnings)? So I could just convert the total amount, say $6,000, to the Roth via a rollover? That does make it much simpler (guessing for some reason I thought after the recharacterization I could only rollover a ...
by Paul78
Mon Jul 14, 2014 8:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

Do you have any moves before year end that you can make to reduce your AGI and MAGI to help stay under that 114K MAGI ? If you're contributing to Roth TSP, maybe switch to Traditional TSP. Have you maxed out HSA contributions if you have HSA eligible High Deductible Health Plan (HDHP)? Don't work a...
by Paul78
Mon Jul 14, 2014 8:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

Or alternatively could I just withdraw whatever amount of my $5,500 contribution is not eligible for the roth ira and just pay the 10% early withdrawal fee? It is possible I could only slightly be in the phase out range (ie maybe $117,000) and in that case it might just be better to have ALL my ira...
by Paul78
Mon Jul 14, 2014 7:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: Made too much money (roth ira contribution)

Yes, you can recharacterize the Roth contribution to a traditional, partial or full, then convert it back to a Roth. You can recharacterize by tax filing deadline including extensions, so yes, you could wait, which would be advantageous if can do partial recharacterization and if any earnings, sinc...
by Paul78
Mon Jul 14, 2014 7:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Made too much money (roth ira contribution)

I contributed $5,500 to my roth IRA on 1/2/14 assuming I would not reach the modified adjusted gross income ($114,001 for singles) phase out range. Is it still possible to complete a backdoor Roth IRA? 1. Send my current traditional IRA balance (less than 20,000) to my traditional tsp 2. Recharacter...
by Paul78
Mon Jul 14, 2014 7:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Made too much money (roth ira contribution)
Replies: 19
Views: 1716

Re: How to decide your number?

I do not really have a number per se. Both because of my age (25) and the fact that a million different things could happen in my life that would change my number. What I have been doing so far and am hopefully to continue is basically 1/3 gross income- fed/state taxes, social security, medicare, in...
by Paul78
Wed May 21, 2014 9:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to decide your number?
Replies: 61
Views: 7158

Re: Best way to sign a credit card?

I don't sign it. Heck even when I buy something with my credit card and they make you sign (either the machine or the physical receipt) I don't sign. I just draw a "squiggly" line which in no way resembles my name or any other name. Never once has my credit card company called me about thi...
by Paul78
Fri Apr 18, 2014 5:02 pm
 
Forum: Personal Consumer Issues
Topic: Best way to sign a credit card?
Replies: 72
Views: 6511

Re: Death of co-worker

Although, I don't want to know ... I think, if we knew the exact number of days we had left ... we would stop more often to smell the flowers, live life more fully and stop worrying about the little stuff. We would, also, know exactly how much we needed in our 401K. :wink: A better question would b...
by Paul78
Wed Apr 02, 2014 1:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Death of co-worker
Replies: 94
Views: 10119

Re: Being older/younger in class -- benefits, issues?

I was one of those August children. My parents went the old route instead of the young. Academically I would have been fine either way, athletically is was a benefit to stay back (not just because it made me a year older but because my class was was not as strong so I go to play/start more on varsit...
by Paul78
Wed Apr 02, 2014 1:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Being older/younger in class -- benefits, issues?
Replies: 98
Views: 6404

Re: Death of co-worker

exactly why I make sure to spend some money now. My plan is to retire mid 50's but it is a possibility I do not make it that far or I have a health conditions that limits my (physically and/or mentally) in retirement. No I am not just gonna spend everything I have in the present but I do set limits....
by Paul78
Mon Mar 31, 2014 8:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Death of co-worker
Replies: 94
Views: 10119

Re: How did you decide how much to save?

very simple for me max out TSP (17.5k) plus a some government matching max our ira (5.5k) I am hopeful that in combination with my pension and SS will be enough in retirement. I also like to invest some in a taxable account (have 21k so far after working an equivalent of 26 months full time). But I ...
by Paul78
Sat Mar 22, 2014 10:13 pm
 
Forum: Investing - Theory, News & General
Topic: How did you decide how much to save?
Replies: 119
Views: 9806

Re: Should I pay off my auto loan?

Note : You want to leave a "substantial enough" amount on the loan unpaid , because if it's not enough, they might just write off the remaining amount. Having an open loan on your credit history is actually often better than having it closed, counterintuitively. Is this really necessary? ...
by Paul78
Fri Feb 21, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my auto loan?
Replies: 24
Views: 3368

Re: Should I pay off my auto loan?

denovo wrote:Do we even know what the interest rate is?


Only a couple hundred left on the loan so interest is not really relevant.
by Paul78
Mon Feb 17, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my auto loan?
Replies: 24
Views: 3368

Re: Should I pay off my auto loan?

Thought about what you thought about, except that my credit history is in much better shape, because of all the work I put into it, and no thanks to parents or co-signers. My credit history is barely 2 years old, but because of diligence, I'm on solid ground. The car loan I'm keeping open for the s...
by Paul78
Mon Feb 17, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my auto loan?
Replies: 24
Views: 3368

Re: Should I pay off my auto loan?

Your credit score can be broken down into about five things that affect it. 1. Payment history (35%) - How quickly you pay back loans. 2. Amounts Owed (30%) - How much you currently owe. 3. Length of Credit History (15%) - How long you have maintained a credit history. 4. New Credit (10%) - How rec...
by Paul78
Sat Feb 15, 2014 4:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my auto loan?
Replies: 24
Views: 3368

Re: Joined the "Two Comma Club" Today

"we" (ie two people) helps a bit but reaching the two comma club at 27 is still impressive.

I thought I was doing well (should reach it slightly before my 40th birthday). But 14 years from now being in the two comma club will not be as impressive (ie inflation).
by Paul78
Fri Jan 31, 2014 9:00 pm
 
Forum: Investing - Theory, News & General
Topic: Joined the "Two Comma Club" Today
Replies: 47
Views: 4623

Should I pay off my auto loan?

I bought a car and took out an auto loan for part of it (did not really need to take out the auto loan). My rationale for taking out a loan when I could have paid straight cash is because sooner or latter I will want to take out a mortgage and at the current moment I have ZERO loan history. I make a...
by Paul78
Thu Jan 30, 2014 2:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my auto loan?
Replies: 24
Views: 3368

Re: Any reason to still write checks?

rent that is all. I am assuming all the rental companies will switch over to online at some point. My current place is check only and my previous place let you pay online but there was a 3% fee (who would possible want to pay that). and I guess I write a couple of personal checks a year as gifts or ...
by Paul78
Fri Jan 17, 2014 9:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any reason to still write checks?
Replies: 76
Views: 2864

Re: High Earners - What's Your Profession?

If over 100k is a "high" earner (I think that is a bit low) then I qualify.

RN made about 115k last year.

edit- I do not exactly live in New York but my area is not cheap which is a big reason why I am over 100k.
by Paul78
Sun Jan 12, 2014 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 357
Views: 28457

Re: Official 2014 IRA is done. Sign-up

I did it for a few reasons 1. I am not that smart. Do I think the market will have a decent size drop at some point this year? YES. But I have no idea when it will happen. Plus even if I tried to time the market I still would have no idea when to enter (wait till it drops 3%, 4%, 5%, 10% ect). 2. I ...
by Paul78
Wed Jan 01, 2014 6:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Official 2014 IRA is done. Sign-up
Replies: 47
Views: 2779

Re: Dollar Cost Averaging -- good or evil?

evil well not really BUT if I have the money I invest it all at once so I can stop thinking about it. Plus the amount of money I am talking about is really not that much (currently 25 yo and the biggest single day investment I have made is 11k). If I was investing 400k I might space it out over at l...
by Paul78
Thu Nov 07, 2013 7:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Dollar Cost Averaging -- good or evil?
Replies: 48
Views: 2465

Re: The bank took my $50 counterfeit money and gave me nothi

that is why I deposit money in the atm machines. They "reject" the suspicious bills and give them back to you (the machine does not keep them). You can then take that suspicious bill and buy a .50 cent pack of gum at the grocery store (or where ever) to get different cash. BUT if you depos...
by Paul78
Fri Oct 18, 2013 10:04 am
 
Forum: Personal Finance (Not Investing)
Topic: The bank took my $50 counterfeit money and gave me nothing
Replies: 90
Views: 8395

Re: Fantex offers stock in Athletes

Sure the value might rise and fall during the players care BUT it is assured to go to zero (or close to it) once the player retires. Even if the player still has value after they retire (ie major athletics will still have endorsements) the stock will still greatly falls. SO basically it is a gamble ...
by Paul78
Thu Oct 17, 2013 2:40 pm
 
Forum: Investing - Theory, News & General
Topic: Buying Stock in Pro Athletes
Replies: 20
Views: 1702

Re: How did you/your child pay for college?

40k scholarship

16k gift from my parents (4k a year)

3k loan from my parents (paid if of a couple of months after I started working)
by Paul78
Sat Oct 05, 2013 3:51 pm
 
Forum: Personal Consumer Issues
Topic: How did you/your child pay for college?
Replies: 151
Views: 8941

Re: Vanguard - Track your transfer

Yep, same thing happen to me a couple of months ago and I was also freaked out for a second.
by Paul78
Wed Sep 25, 2013 7:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard - Track your transfer
Replies: 22
Views: 2267

Re: End of life finances, way over my head

Honestly I would pay off ALL the debt you currently have (30k student loan and if you have anything else add that). Why? Cause when you mother does pass on I doubt there will be any money left. This will be one way for her to give you something when she is still alive. Clearly it is too late in the ...
by Paul78
Fri Sep 20, 2013 2:41 am
 
Forum: Investing - Help with Personal Investments
Topic: End of life finances, way over my head
Replies: 40
Views: 7037

Re: I spend 6.1% of my Gross income on rent

between 14%-21% Depends on the amount of OT and differentials I get. Ie 21% would be my "base" pay but that is not realistic because I work every weekend (10% bonus to base) and NOC shift (10% bonus to base). This year it is probably about 15% because I worked/am working more OT then I wou...
by Paul78
Sun Sep 15, 2013 8:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: I spend 6.1% of my Gross income on rent
Replies: 62
Views: 5727

Re: Don't put an entire asset class allocation in taxable?

For me it is not really an issue because my taxable account is much smaller then the others TSP = 21.5k a year Roth IRA= 5.5k a year Taxable = 5-10k a year So taxable is only 14-27% of the total and I can afford to have an entire asset class in it. BUT if my taxable account was bigger % I would dive...
by Paul78
Fri Aug 30, 2013 3:44 am
 
Forum: Investing - Theory, News & General
Topic: Don't put an entire asset class allocation in taxable?
Replies: 27
Views: 2068

Re: Grocery shopping price comparison (Costco vs BJs vs Sams

I just buy EVERYTHING at Costco.

I know it is not smart (money wise) but I like only having to make one stop for food. Plus the 3% cash back (1% AE card, 2% Costco Executive Card) cut into the extra cost a little bit.
by Paul78
Fri Aug 23, 2013 8:16 pm
 
Forum: Personal Consumer Issues
Topic: Grocery shopping price comparison (Costco vs BJs vs Sams...)
Replies: 35
Views: 5275

Re: So You're Going to Self Insure Long Term Care?

delaying my SS until 70 is part of my insure against living a long time and/or needing long term care.

the SS + my federal pension (will be around 30k a year in today's dollars) should take a decent chuck out of LTC cost. They rest would be paid for from my retirement/investing/savings accounts.
by Paul78
Sat Aug 17, 2013 7:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: So You're Going to Self Insure Long Term Care?
Replies: 83
Views: 5397

Re: Ready to live to 100? Here's why you should be.

F https://personal.vanguard.com/us/insights/article/retirement-long-view-082013 Argh. This is a completely misleading comparison-- these two sentences are like comparing apples and oranges. the lower life expectancy in 1930 was largely due to higher rates of infant mortality. In 1930, life expectan...
by Paul78
Mon Aug 05, 2013 2:01 pm
 
Forum: Investing - Theory, News & General
Topic: Ready to live to 100? Here's why you should be.
Replies: 21
Views: 2055

Re: What's in your wallet? (credit cards)

1 crappy credit card- it was the card I got when I was 18 and it has 4 years more credit history they any other card I have. I basically do not use this card (rewards suck) but keep it because it has the most history (6 years credit history compared to 2 for my AE and 1 for my chase). 1 American Exp...
by Paul78
Sat Jul 27, 2013 7:45 pm
 
Forum: Personal Consumer Issues
Topic: What's in your wallet? (credit cards)
Replies: 18
Views: 12519

Re: Cutting the cord on Cable

only reason I have cable is live sports. streaming it on some illegal site on the internet is just not good enough for me. Sure this "live sports" habit cost me more then 1k a year BUT I can not give it up at this point. Literally EVERYTHING other then live sports can easily be replace wit...
by Paul78
Sat Jul 27, 2013 6:23 pm
 
Forum: Personal Consumer Issues
Topic: Cutting the cord on Cable
Replies: 95
Views: 9612

Re: Do the majority of people pay their Credit Card bill onl

positives 1. You can setup a payment date. If you really wanna keep your cash until that last possible date you can simple set up and auto payment on the due date. If you "mail" the payment you have to send it out way earlier then the actual due date. 2. It is easier. Click on button and t...
by Paul78
Fri Jul 19, 2013 7:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do the majority of people pay their Credit Card bill online
Replies: 117
Views: 7171

Re: Wife's Credit

I would try to get the current credit cards into joint owners if possible. This is the easiest solution. If joint owners is not possible just open some crappy credit card in her name. Charge a few purchases a month to this credit card and after a few years upgrade her card to a less "crappy&qu...
by Paul78
Fri Jul 19, 2013 7:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife's Credit
Replies: 15
Views: 1724

Re: How and when did you do it - to get to 1 Million

(1) Paid off debt quickly, from student loans to home mortgage; avoided other debt such as credit cards and car loans. So far I am doing that one. I had a scholarship that cover 80% of my college cost (ALL cost of college not just tuition and housing) and my parents gifted me about 15%. I paid the ...
by Paul78
Fri Jul 19, 2013 7:24 pm
 
Forum: Investing - Theory, News & General
Topic: How and when did you do it - to get to 1 Million
Replies: 65
Views: 9487

Re: How and when did you do it - to get to 1 Million

2028 in December at the age of 40 or at least I hope. I am using a few assumptions 1. 5% return a year on investments 2. 3% a year inflation 3. I contribute from all my sources (tsp + tsp match + roth ira +taxable accounts) 30,000 a year (in today's $$$, ie next year the goal would be 30,900 and so ...
by Paul78
Fri Jul 19, 2013 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: How and when did you do it - to get to 1 Million
Replies: 65
Views: 9487

Re: how bad would it hurt to spend an extra 10k on a car (24

couple of things 1. This is NOT about impressing friends or other people. Guess what my friends also make "decent" money. If I buy a 15k car to replace my POS car they will say "cool you got a new car" and then move on. If I buy a 30k car to replace my POS car they will say "...
by Paul78
Sun Jul 14, 2013 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: how bad would it hurt to spend an extra 10k on a car (24 yo)
Replies: 93
Views: 5168

Re: how bad would it hurt to spend an extra 10k on a car (24

Yes, you can afford the more expensive car. Most people don't save 40% of their income. How did you reach a six figure salary as a fed? Most feds don't hit the $100k point until their mid thirties, even with LA locality pay and you're too young to have gone to med or law school. It is a little bit ...
by Paul78
Sun Jul 14, 2013 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: how bad would it hurt to spend an extra 10k on a car (24 yo)
Replies: 93
Views: 5168

Re: how bad would it hurt to spend an extra 10k on a car (24

What would it cost? Retirement is only one possible cost, how about; 1) Three or more fantastic vacations. I might be pathetic but I would prefer a better car for 8-12 year over a couple of vacations. 2) Being able to quit your job to be able to take a lower paying but more risky job. If I stay fed...
by Paul78
Fri Jul 12, 2013 9:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: how bad would it hurt to spend an extra 10k on a car (24 yo)
Replies: 93
Views: 5168

Re: how bad would it hurt to spend an extra 10k on a car (24

Most of us at the age of 24 were not Bogleheads so congrats on thinking about the finances of this purchase and saving 43% of your gross. Some of your friends with the $40K+ cars probably are in debt big time with little or no savings. One possible option - how about buying a good used car right no...
by Paul78
Fri Jul 12, 2013 9:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: how bad would it hurt to spend an extra 10k on a car (24 yo)
Replies: 93
Views: 5168
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