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Re: Please help with FERS retirement calculation

Age 36 plus 25 more years service = 61 not 62, so maybe you both would have to work 26 more years to make it to 62, when the percentage is 1.1%versus 1% for calculating the pension, if you are younger. How are you coming up with $39K and $32.5K for FERS pension? Assuming your high three salary avera...
by PennySaved
Sat Mar 01, 2014 1:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Please help with FERS retirement calculation
Replies: 19
Views: 1664

Re: Santandar Bank advertisement

I found out about the $20 a month from Santander bank on a Fat Wallet forum http://www.fatwallet.com/forums/finance/1309419/?start=0 I opened my account in December 2013, got my necessary direct deposits of $1500 per month and the 2 billpays per month completed in January and received my first $20 p...
by PennySaved
Wed Feb 26, 2014 12:58 am
 
Forum: Personal Consumer Issues
Topic: Santandar Bank advertisement
Replies: 14
Views: 1645

Re: Cons to having a HELOC, assuming responsible use

One downside I did not realize when I took out a HELOC in 2006 was how it might adversely affect me refinancing my condo in 2009. I had about $120K in equity and needed to do some remodeling in 2006 and needed to borrow $25k. So I got a HELOC from my credit union. When they asked me how much of a li...
by PennySaved
Tue Feb 25, 2014 8:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cons to having a HELOC, assuming responsible use
Replies: 7
Views: 552

Re: High Earners - What's Your Profession?

Chemical Engineer in Federal Govt.
by PennySaved
Mon Jan 13, 2014 3:02 am
 
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 334
Views: 22774

Re: Those silly lotion containers

I buy the large size shampoo bottles that have a pump from Costco. When it no longer pumps, I just add some water and shake to mix in, then keep pumping. Of course, it is diluted, so I have to use more volume. If it is too dilute to hold in my hand, I sometimes just pump it right onto the top of my ...
by PennySaved
Tue Sep 10, 2013 2:07 pm
 
Forum: Personal Consumer Issues
Topic: Those silly lotion containers
Replies: 20
Views: 2400

Re: Thermopen

There is a sale right now on open box Thermapens.

http://www.thermoworks.com/products/the ... openbox-cs


Thanks for the info. I just went and ordered one for $74 plus $2.99 shipping.
by PennySaved
Tue Jul 09, 2013 5:23 pm
 
Forum: Personal Consumer Issues
Topic: Thermapen [Cooking thermometer]
Replies: 28
Views: 2662

Re: identity theft using prepaid debit card

The website lists lots of IRS Income tax return fraud cases, many involving issuing refunds on debit cards: http://www.irs.gov/uac/Examples-of-Identity-Theft-Schemes-Fiscal-Year-2013 But still can't figure out how crooks would take advantage unless they actually get physical receipt of the debit car...
by PennySaved
Thu Apr 25, 2013 6:14 pm
 
Forum: Personal Consumer Issues
Topic: identity theft using prepaid debit card
Replies: 10
Views: 1143

Re: identity theft using prepaid debit card

Maybe they were using her identity to get the cards setup. Once a card is issued, then they can load them online by transferring money online from someone else's checking account to the cards. Assuming they had online access to someone's checking account. Then they would use the cards online to buy ...
by PennySaved
Thu Apr 25, 2013 5:56 pm
 
Forum: Personal Consumer Issues
Topic: identity theft using prepaid debit card
Replies: 10
Views: 1143

Re: Mango prepaid card - 4.8% (effective) APY

Thanks for the comments. I may rethink my strategy. I was reading posts over at FatWallet. One person had his Mango card cancelled after 3 months because he was loading/unloading too much or frequently via ACH. Assuming that was unloading into a bank acct. My rewards checking just increased the numb...
by PennySaved
Tue Apr 23, 2013 9:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 70
Views: 15016

Re: Mango prepaid card - 4.8% (effective) APY

I finally got my Mango card all set up. I have $500 a month going in from direct deposit to avoid the $5 a month fee. I've got about $4500 in the savings acct (less than $5000 to allow for interest growth). Now I am looking for ways to get the $500 per month off the prepaid debit card besides buying...
by PennySaved
Tue Apr 23, 2013 6:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 70
Views: 15016

Re: One night hotel stay in D.C.

If you don't care much about hotel decor and amenities, there is a cheap tourist hotel in a great location in DC called the Hotel Harrington. located at corner of 11th and E Streets, NW. One block from Metro Center redline subway stop. I did a quick check and it looks like room rate is less than $20...
by PennySaved
Wed Apr 10, 2013 3:50 pm
 
Forum: Personal Consumer Issues
Topic: One night hotel stay in D.C.
Replies: 42
Views: 2881

Re: any ideas for a slightly higher yield than MM?

Here are some other ideas: I put some of my cash in peer-to-peer lending with Lending Club, starting with a couple hundred dollars at first in 2009 and now up to about $12,000. Returns have been all positive, more than standard savings rates, return is running now about 8%. I could sell notes on sec...
by PennySaved
Mon Apr 01, 2013 7:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: any ideas for a slightly higher yield than MM?
Replies: 19
Views: 1994

Re: Taxes : Basic question

Did you receive a state income tax refund for the year 2009 or did you receive the refund in 2009?
by PennySaved
Mon Apr 01, 2013 12:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes : Basic question
Replies: 11
Views: 565

Re: Taxes : Basic question

So in other words, that line on the 540x is referring to a 2008 refund that I originally deducted in 2009. It is not referring to the refund I received in 2009. Your question is confusing. You don't deduct "refunds". You deduct the amount of state tax withheld in a tax year, say 2008, on ...
by PennySaved
Mon Apr 01, 2013 12:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes : Basic question
Replies: 11
Views: 565

Re: Taxes : Basic question

oops. I missed the part of about you are amending for year 2009. Anyway, it would depend if you deducted your state income taxes paid on your 2008 federal return.
by PennySaved
Mon Apr 01, 2013 12:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes : Basic question
Replies: 11
Views: 565

Re: Taxes : Basic question

When you do your Federal Taxes, the amount of state tax refund you received in 2012 gets reported as income on your 2012 federal return ONLY if you itemized deductions in 2011 and took a deduction for state taxes paid. Because the state return is using the Federal income as starting point, you have ...
by PennySaved
Mon Apr 01, 2013 12:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes : Basic question
Replies: 11
Views: 565

Re: Where were you financially in your late twenties?

When I was in my late twenties, it was the early 1980s. After seven years of attending university, working part-time and working full time sometimes as co-op student in engineering, I graduated in Dec 1982 and hardly anyone in my field could get a job due to the ongoing recession. But I did not have...
by PennySaved
Mon Feb 18, 2013 6:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Where were you financially in your late twenties?
Replies: 191
Views: 12040

Re: Feeling Overwhelmed [Portfolio Help]

With your good credit score and high income, you should have no problem getting a debt consolidation loan at Lending Club.com at a lower interest rate that your current credit card interest rate so you can cut the interest payments on your two credit card debts. I am invest in Lending Club loans and...
by PennySaved
Mon Feb 18, 2013 12:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Feeling Overwhelmed [Portfolio Help]
Replies: 39
Views: 1802

Re: Question about reporting tax free bond fund dividends

I will have to review my Virginia tax instructions on how I should report federal-exempt, but not state-exempt portion of my bond dividends. I'll get my Federal taxes figured out first, but wait on filing and then start on the State taxes. Maybe I will end up reporting this on Schedule B after all. ...
by PennySaved
Wed Feb 13, 2013 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about reporting tax free bond fund dividends
Replies: 8
Views: 507

Re: Rollover of Federal TSP Account into Inherited ROTH Acco

See https://www.tsp.gov/PDF/formspubs/tsp-583.pdf
Important Tax Information about TSP Death Benefits Payments, May 2012

Talks about transferring beneficiary TSP funds to an inherited IRA, but does not mention anything about an inherited Roth IRA.
by PennySaved
Wed Feb 13, 2013 8:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rollover of Federal TSP Account into Inherited ROTH Account
Replies: 15
Views: 1185

Re: Question about reporting tax free bond fund dividends

I think I found the answer to my question on one of Vanguard's webpages: https://personal.vanguard.com/us/insights/article/tax-forms-available-12032012 They indicate that the 1099-DIV and 1099-INT for VG mutual fund accounts are now available, but the these forms for brokerage accounts will be avail...
by PennySaved
Wed Feb 13, 2013 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about reporting tax free bond fund dividends
Replies: 8
Views: 507

Re: Question about reporting tax free bond fund dividends

The T Rowe Price Tax-free fund is not in an IRA. The reason I said it was “nontaxable” is that when I go to the “Taxes and Income” page for my accounts, then click on Dividends and Capital Gains Distributions”, I get a webpage showing two of my VG bond funds (GNMA and Intermediate Term Investment Gr...
by PennySaved
Wed Feb 13, 2013 7:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about reporting tax free bond fund dividends
Replies: 8
Views: 507

Question about reporting tax free bond fund dividends

In 2012, for the first time, I purchased shares of T Rowe Price Virginia Tax Free Bond Fund through a brokerage account at Vanguard. I am a Virginia resident. I don’t see any tax forms for this account on the Vanguard site, but I did see Form 1099-DIV for three other VG bond funds I have. I do see t...
by PennySaved
Wed Feb 13, 2013 6:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about reporting tax free bond fund dividends
Replies: 8
Views: 507

Re: are my 1099's going to be revised?

Earlier this month, I downloaded my 1099-OID from Lending Club for the interest from my peer-to-peer consumer loans. Now they tell me that they will issue a revised 1099-OID by February 15. I was figuring up the bad debt losses on my defaulted loans on my own to put on Form 8949, but now Lending Clu...
by PennySaved
Mon Feb 11, 2013 5:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: are my 1099's going to be revised?
Replies: 13
Views: 667

Re: Neglected investment account - death by fees

Something similar happened to a Merrill Lynch account some years back (year 2000?) that was used by my condo association. We had some of our reserve money in a Merrill Lynch money market account. No one on the board was paying much attention to the account. We (I was on the board at the time) got a ...
by PennySaved
Fri Jan 18, 2013 3:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Neglected investment account - death by fees
Replies: 17
Views: 951

Re: What creative ways have you found to reduce monthly bill

Don't forget the classic from a previous thread on that thrifty thing you do: Only use one sheet, and I am not talking about your bed. Hmm, I wonder who wrote that? :) Well, actually, I was going to include my toilet paper reduction strategy using washable cloth wipes (not for No. 2), but most peop...
by PennySaved
Mon Jan 07, 2013 6:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: What creative ways have you found to reduce monthly bills?
Replies: 66
Views: 3862

Re: What creative ways have you found to reduce monthly bill

I use an electric blanket at night in the winter so I can set my thermostat low. I also wear a flannel nightgown. I also have a programmable thermostat so the settings are automotic for weekdays or weekends. I use all CF lightbulbs. I also use hankies at home instead of kleenex. I have bad nasal all...
by PennySaved
Mon Jan 07, 2013 6:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: What creative ways have you found to reduce monthly bills?
Replies: 66
Views: 3862

Re: American Taxpayers Relief Act of 2012 resources:

http://www.fivecentnickel.com is reporting that Long term capital gains and qualified dividends will now be taxed at 20% (vs. 15%) for those above the $400k/$450k threshold. Note that this rate doesn’t apply to all of their capital gains and dividends. Rather, it’s for amounts that take their income...
by PennySaved
Wed Jan 02, 2013 3:31 pm
 
Forum: Investing - Theory, News & General
Topic: American Taxpayers Relief Act of 2012 resources:
Replies: 103
Views: 6897

Re: Frustrating US-Canada Money Problem [Cross-Border Purcha

One option for sending money internationally is to use Paypal. I've sold stuff to Canadians on Ebay and they have paid me using Paypal. However, the receiver of the money gets charged $0.30 per transaction plus 2.9% of the money transferred. I am not sure about currency conversion fees. Paypal users...
by PennySaved
Wed Dec 26, 2012 11:01 pm
 
Forum: Personal Consumer Issues
Topic: Frustrating US-Canada Money Problem [Cross-Border Purchases]
Replies: 22
Views: 1281

Re: Cell phones breaking budgets!

I have a cheap flip Motorola Tracfone for which I add minutes once a year that are good for one year. I never use up the minutes because I rarely use the phone (only for emergnecies and when I travel). This July, I paid $102.19 for a year's more service, so that works out to $8.51 per month. I have ...
by PennySaved
Thu Sep 27, 2012 8:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Re: Cell phones breaking budgets!
Replies: 106
Views: 9831

Re: House held hostage by continually delayed close

I had closing delays when I sold my condo many years ago. I only had one interested qualified buyer. He wanted to close in 15 days. I said great, because I had already moved out of the condo, so no constraints on my part. Then he need more time, no problem, most closings take 30 days anyway. After 4...
by PennySaved
Thu Sep 13, 2012 12:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: House held hostage by continually delayed close
Replies: 9
Views: 757

Re: GREAT long-term-care insurance article by Christine Benz

Much of the discussion of the LTC insurance focuses on the need for nursing home. But LTC can cover costs to assist people with activities so that they can still stay at home and avoid a nursing home. Many people start to go into a period of decline where they need help with one of more of the activ...
by PennySaved
Thu Aug 09, 2012 4:48 pm
 
Forum: Investing - Theory, News & General
Topic: GREAT long-term-care insurance article by Christine Benz
Replies: 55
Views: 4743

Re: What was Your Starting Salary Out of College?

$28,000 in 1982 as a chemical engineer. I don't know what that is in today's dollars.
by PennySaved
Wed Aug 08, 2012 5:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was Your Starting Salary Out of College?
Replies: 151
Views: 8513

Re: Getting Started in Rentals

See recent discussion on this same issue at
http://www.freemoneyfinance.com/2012/08 ... l#comments

The comments had a lot of good information to consider.
by PennySaved
Wed Aug 08, 2012 4:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting Started in Rentals
Replies: 21
Views: 2244

Re: Thrift Savings Plan Investment Options

TSP Government Securities (G-Fund) Fixed Income Index (F-Fund) Small Cap Stock Index (S-Fund) International Stock Index (I-Fund) Common Stock Fund (C-Fund) Based on your allocations below: 20% L2030 2 0% L2040 10% G 10%F 20%S 20%I 0% C Here is your actual allocation by each individual fund, because ...
by PennySaved
Tue Aug 07, 2012 5:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Thrift Savings Plan Investment Options
Replies: 4
Views: 715

Re: Foreclosured neighbor stalling handing over HOA account

I would contact the bank that has the HOA account ASAP and explain the situation to them. As president of the HOA, you may be able to get some information out of them. Such as, does the HOA still have the account there and is their money in it? Is it a fact that the money has been moved or just your...
by PennySaved
Mon Aug 06, 2012 7:07 pm
 
Forum: Personal Consumer Issues
Topic: Foreclosured neighbor stalling handing over HOA account
Replies: 22
Views: 2222

Re: Foreclosured neighbor stalling handing over HOA account

I don't know how much money is involved here, but it sounds like it is time to get a lawyer involved to advise you.
by PennySaved
Mon Aug 06, 2012 7:02 pm
 
Forum: Personal Consumer Issues
Topic: Foreclosured neighbor stalling handing over HOA account
Replies: 22
Views: 2222

Re: Foreclosured neighbor stalling handing over HOA account

I assume there are other board members of the HOA. You all need to get together ASAP and appoint someone else as treasurer. Put the decision/minutes in writing and then have the others sign it. Then that person needs to contact the bank and give them whatever paperwork necessary to get accesss to th...
by PennySaved
Mon Aug 06, 2012 6:08 pm
 
Forum: Personal Consumer Issues
Topic: Foreclosured neighbor stalling handing over HOA account
Replies: 22
Views: 2222

Re: What is your Profession, Salary, Age, and Location?

Age 14 $0.50/hr babysitting Kentucky Age 17 $2/hr busing tables in restaurant Louisiana Along the way getting my education, I worked in a greenhouse, as a waitress, property painter, donut shop cashier, cleaning dorm bathrooms. (worst job ever) Then worked in chemical plants. Now 50 something Govt C...
by PennySaved
Mon Aug 06, 2012 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is your Profession, Salary, Age, and Location?
Replies: 37
Views: 3500

Re: Inheritance for Mentally disabled person

My step-uncle was going to leave a $80K to his mentally ill sister, but then found out this would cause problems with her eligibility for the low-income housing in which she lived. She also had a past history of spending money inappropriately such as giving too much of it to boyfriends and not leavi...
by PennySaved
Thu Jul 26, 2012 3:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inheritance for Mentally disabled person
Replies: 8
Views: 1017

Re: Lending Clubs

Looks fun to tinker with, but can you make any serious money here without a huge workload? If you had 500k to loan out and grossed 6% after defaults and expenses, that's a respectable 30k extra income, but it seems you have to keep up with an overwhelming number of accounts. How much time would it ...
by PennySaved
Sat Jun 16, 2012 9:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Lending Clubs
Replies: 39
Views: 3062

Re: Lending Clubs

Looks fun to tinker with, but can you make any serious money here without a huge workload? If you had 500k to loan out and grossed 6% after defaults and expenses, that's a respectable 30k extra income, but it seems you have to keep up with an overwhelming number of accounts. How much time would it ...
by PennySaved
Sat Jun 16, 2012 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Lending Clubs
Replies: 39
Views: 3062

Re: Lending Clubs

This sounds too good to be true. Am I missing something? Very enticing idea to look into. These loans are unsecured and people do default. Also I believe Prosper and Lending Club are still not operating in the black although their business is increasing every year. I think Lending Club may be doing...
by PennySaved
Fri Jun 15, 2012 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lending Clubs
Replies: 39
Views: 3062

Re: Lending Clubs

I'm thinking the best way to do this would be under the cover of a IRA if one can? Depending on how they/you keep track of taxes I would think could turn into a nightmare. Just starting with $5k and using $25/notes you would have 200 notes. The tax reporting is not that hard. For all your notes, Le...
by PennySaved
Fri Jun 15, 2012 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lending Clubs
Replies: 39
Views: 3062

Re: Lending Clubs

I have also considered starting Roth IRA with Lending Club next year. They require $5,000 investment to get the no-fee Roth IRA. It would make more sense to keep the peer-to-peer lending inside of a Roth IRA for tax reasons. But my taxable investment could also serve as emergency cash source if I ne...
by PennySaved
Thu Jun 14, 2012 5:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lending Clubs
Replies: 39
Views: 3062

Re: Lending Clubs

I started investing in Prosper back in 2008, then with Lending Club in 2009 when Prosper stopped for a while. I only invested a couple of hundred dollars in each until I got the hang of it. I only have a couple of loans with Prosper now. Decided to stay mostly with Lending Club. Now I have about $10...
by PennySaved
Thu Jun 14, 2012 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lending Clubs
Replies: 39
Views: 3062

Re: Helping adult mother financially

So I guess Grandfather had no assets or life insurance when he died that would cover a cemetary plot? If you do decide to pay $5000 for a plot, I would tell your Mom that you would pay the cemetary directly instead of funneling the money through her. I bought a cemetary plot next to my father's (he ...
by PennySaved
Wed Apr 25, 2012 12:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping adult mother financially
Replies: 65
Views: 4058

Re: Helping adult mother financially

Where does the stepfather fit into all this? Is he still alive? Working or retired?
by PennySaved
Wed Apr 25, 2012 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping adult mother financially
Replies: 65
Views: 4058

Re: Setting up an investments only PC

I remember some years back when hackers were able to get into some TSP (fed govt 401k) investment accounts and take money out. A few TSP users computers (I think it was there not-well-protected home computers) got key loggers program installed on them and outsiders were able to access their TSP user...
by PennySaved
Wed Mar 28, 2012 6:41 pm
 
Forum: Personal Consumer Issues
Topic: Setting up an investments only PC
Replies: 88
Views: 4382

Re: Retired - Do Roth conversion or not?

If you are in the 25% federal bracket now, then tax rate could go up if Congress lets the Bush tax cuts expire. They extended them for this year (2012), but it they don't do another extension, I thought the 25% bracket goes away thus you might be in the 28% bracket in future years with same income a...
by PennySaved
Fri Mar 16, 2012 12:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Retired - Do Roth conversion or not?
Replies: 30
Views: 1624
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