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Re: Wife returning to work - Wisconsin Retirement System qs

Thanks for the responses so far. 1. I have not seen anyone advocate for putting more after-tax dollars over and above the pension contribution and the 403(b) contribution. Let me know if anyone disagrees with that. 2. Sounds like 403(b) with Fidelity is the way to go. 3. Flyingbison, what was your t...
by Scorpion
Wed Jul 23, 2014 1:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wife returning to work - Wisconsin Retirement System qs
Replies: 9
Views: 447

Wife returning to work - Wisconsin Retirement System qs

My wife has recently decided to go back to work as a public school teacher. We live in Wisconsin. She has not previously worked in Wisconsin. We have substantial (>$1M) savings accumulated over many years of diligent saving. About 35% of our savings are in retirement accounts. We are in our late 30s...
by Scorpion
Wed Jul 23, 2014 9:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Wife returning to work - Wisconsin Retirement System qs
Replies: 9
Views: 447

Re: Passive Losses for State Returns - TurboTax must be wron

I think you're asking 2 different questions. One, does Iowa allow passive activity losses, and two, how to enter nonresident passive activity income and losses in Turbotax. I can't answer the second, but as to the first, not all states allow passive losses, but Iowa does. As a Wisconsin resident, i...
by Scorpion
Thu Mar 21, 2013 9:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Passive Losses for State Returns - TurboTax must be wrong
Replies: 4
Views: 512

Re: Passive Losses for State Returns - TurboTax must be wron

I'm pretty sure my passive loss for non-resident states question is universal to most states. I think if I bought Oklahoma and Nebraska, TT would handle it the same way. Whether that same way is the right way, though, is the question. Hopefully someone has run into this before. I really don't want t...
by Scorpion
Wed Mar 20, 2013 11:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Passive Losses for State Returns - TurboTax must be wrong
Replies: 4
Views: 512

Passive Losses for State Returns - TurboTax must be wrong

I have a burning tax question. I tried to create a Fairmark login, but I am still waiting for their confirming email, and I know my Boglehead friends seem to know all this stuff, so I figured I would try, even though not really a tax-focused community. Here's the initial question. I have some follow...
by Scorpion
Wed Mar 20, 2013 9:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Passive Losses for State Returns - TurboTax must be wrong
Replies: 4
Views: 512

Re: Turbotax Premier, K-1s and Passive Activity Losses

Thanks - I didn't shell out for Premier.
by Scorpion
Mon Feb 18, 2013 10:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Turbotax Premier, K-1s and Passive Activity Losses
Replies: 4
Views: 482

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

Thanks - embarrassed I couldn't find it without assistance, but I appreciate your help! :oops:
by Scorpion
Mon Feb 11, 2013 10:24 pm
 
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 3521

Turbotax Premier, K-1s and Passive Activity Losses

I have done my taxes with TurboTax Deluxe for many years. In recent years, I have started receiving (and later investing in) shares in various real estate partnerships. I have dutifully entered the K-1 info into TT Deluxe every year. I worry though, that when things start to get more complicated wit...
by Scorpion
Sun Feb 10, 2013 11:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Turbotax Premier, K-1s and Passive Activity Losses
Replies: 4
Views: 482

Re: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazo

Does anyone know if this deal is still available? I scoured the Amazon site and could find nothing. TT Deluxe is $44 now instead on 39.99, so I'm thinking it might be over.
by Scorpion
Sun Feb 10, 2013 11:11 pm
 
Forum: Personal Consumer Issues
Topic: Quicken Deluxe 2013 Free with TurboTax Purchase at Amazon
Replies: 15
Views: 3521

Re: Frustrated with Work and Dealing with Golden Handcuffs

I suggest you ask yourself this- are there some days that you enjoy work? Do you get a feeling of accomplishment? I'm guessing the answer is yes. I think the smarter you are and the better you are, the more likely you are to feel like a fraud. I believe it is called "impostor syndrome" - t...
by Scorpion
Wed Jan 11, 2012 12:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Frustrated with Work and Dealing with Golden Handcuffs
Replies: 55
Views: 6165

Sorry to revive this old thread, but I wanted to give an update for those in my position. As a general matter, I would recommend what others have recommended in the past - a careful reading of Form 8606, its instructions and Pub. 590. After spending hours creating a spreadsheet, my calcs show that i...
by Scorpion
Mon Sep 05, 2011 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: So how many of us are going to undo Roth Conversions now?
Replies: 9
Views: 2107

So how many of us are going to undo Roth Conversions now?

So like a good Boglehead soldier, I learned all about Roth conversions for folks with income in excess of the normal Roth limits at the end of 2009. I converted significant Traditional IRA balances on the first business day of 2010, and I also did a backdoor 5K contribution for each of my spouse and...
by Scorpion
Mon Aug 08, 2011 8:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: So how many of us are going to undo Roth Conversions now?
Replies: 9
Views: 2107

Thanks. I tried the bankrate.com one, and it says that I can recoup $800 closing costs on even a 3.70% loan (so in other words, a 5 basis points change in interest rates) in less than 9 months. So it's even more aggressive than erate.com. Not sure why there is a difference with erate on that calc. B...
by Scorpion
Sun Aug 07, 2011 5:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Refinance decision 3.75 vs. 3.25
Replies: 2
Views: 647

Refinance decision 3.75 vs. 3.25

I have refinanced twice in the last two years. In 2010, I went to a 3.75% 15 year fixed. I am now considering whether it is worth it to go to a 3.25% 15 year fixed. Mortgage balance around 300K. Closing costs all-in are pretty cheap, between $750 and $1,000. Two issues: 1. Will my credit rating be a...
by Scorpion
Sun Aug 07, 2011 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Refinance decision 3.75 vs. 3.25
Replies: 2
Views: 647

This is sad news, especially after they forced us to change card numbers due to data theft... Aargh.
by Scorpion
Fri Jan 21, 2011 2:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Significant change in Penfed cashback visa card
Replies: 30
Views: 3141

I don't think it's that simple if you have deductible contributions that you converted in the 2010 conversion. You would have to go through the proration formula, etc. such that your backdoor conversion would have some tax consequences (since it would be as though your 2010 conversion never happened...
by Scorpion
Tue Jan 04, 2011 9:47 am
 
Forum: Personal Finance (Not Investing)
Topic: 2011 Backdoor Roth but preserve right to undo 2010 conv.?
Replies: 4
Views: 1070

[bump] Anyone have any thoughts on this issue? I thought it might be a common question.
by Scorpion
Mon Jan 03, 2011 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2011 Backdoor Roth but preserve right to undo 2010 conv.?
Replies: 4
Views: 1070

2011 Backdoor Roth but preserve right to undo 2010 conv.?

My MAGI is too high to do a normal Roth contribution. I did a 2010 roth IRA conversion in early 2010 of an existing TRAD ira (it had some pre-tax amounts that will require payment of tax). At the same time in early 2010, I also did a backdoor new $5k contribution for 2010 (i.e., I contributed to a T...
by Scorpion
Thu Dec 30, 2010 12:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2011 Backdoor Roth but preserve right to undo 2010 conv.?
Replies: 4
Views: 1070

WV 529 Plan DFA vs. Others

I have had my kids in the WV Smart 529 Select plan since late 2006. The reason for doing this was that WV offers DFA funds. Based on my reading at the time, I felt that even if I couldn’t be in DFA funds, it would be worth it to get my kids in them. My oldest is 12 years away from college, and I hav...
by Scorpion
Tue Nov 23, 2010 10:30 am
 
Forum: Investing - Help with Personal Investments
Topic: WV 529 Plan DFA vs. Others
Replies: 2
Views: 736

Thanks Taylor - the bonds are coming (I had a more recent post that wasn't linked title "The Case for Bonds for Aggressive Investors" where I have decided some amount of bonds is appropriate), so this is just the equity side of the portfolio. I know that quite a number of Bogleheads prefer...
by Scorpion
Fri Sep 10, 2010 11:41 am
 
Forum: Investing - Theory, News & General
Topic: POLL: Multiple Choice Portfolios
Replies: 9
Views: 1531

POLL: Multiple Choice Portfolios

I am trying to decide if I should create one “equity side” of my portfolio that can last me for pretty much the rest of my life (with bond percentages increasing over time), or if it is better to have an equity allocation that adjusts as I get older as well, in addition to the bond percentage changi...
by Scorpion
Fri Sep 10, 2010 9:00 am
 
Forum: Investing - Theory, News & General
Topic: POLL: Multiple Choice Portfolios
Replies: 9
Views: 1531

But didn't he also say that it was not a good time for bonds (which implies good time for stocks)? Aargh, I was just starting to convince myself I need bonds. The problem with "stay the course" is that it is so ingrained that it is hard to know when you truly should change course...
by Scorpion
Thu Sep 09, 2010 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bogle: Good Time to Be Buying Stocks
Replies: 33
Views: 6446

Here's was I do. Every single contribution to tax-deferred goes into bonds or cash. It's been this way for a couple of years. This keeps my bonds more or less in balance, but growing slightly which is just fine for me since I have net spending from my portfolio this year (decumulation phase). Then ...
by Scorpion
Thu Sep 09, 2010 12:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

I played around with Tip$ter last night, read a few articles about whether there is a bond bubble and looked at historic US stock market returns. A couple of thoughts: 1. Tip$ter gives me exactly what I was looking for, in a sense – it dictates an optimum answer. It tells me I should have exactly 76...
by Scorpion
Thu Sep 09, 2010 9:27 am
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

Has the stock market just not been substantially negative over a ten year period? the obvious problem with Firecalc et al. is that you're still analyzing probably the best case scenario: 20th century United States. you need a Firecalc that incorporates a probability of 1940s Germany, 1990s Japan, e...
by Scorpion
Wed Sep 08, 2010 2:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

According to Otar and many others, if you have a big pile of money and your sustained withdrawal rate is low, then it doesn't matter what your asset allocation is. You are in the green zone. The question is, "What if I don't have a big pile of money?" One answer is to keep working until y...
by Scorpion
Wed Sep 08, 2010 12:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

It's good to ask these questions, but I think you should try to be a little clearer in your cost/benefit analysis. The cost of adding stocks is greater uncertainty about your $2M retirement date. The benefit is an earlier potential retirement, in expectation. Why don't you convert this asset alloca...
by Scorpion
Wed Sep 08, 2010 11:24 am
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

Re: The Case for Bonds for Aggressive Investors

As that starts to look more achievable, it seems more foolish to be taking big risks. Congratulations on your progress. Ben Graham has suggested a range of 25% to 75% equity, and the rest bonds, IIRC, with 50% as default. One possibility is to slowly or quickly work your way up to 25% cash and bond...
by Scorpion
Wed Sep 08, 2010 11:03 am
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

I always thought that my goal was to make as much money in investing as possible... It probably isn't. I don't know why people think it is sophisticated or expected to say that their goal is to earn as much money as possible. I have no doubt at all that there are people who really do have this as a...
by Scorpion
Wed Sep 08, 2010 10:55 am
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

The Jim Otar's website (http://www.retirementoptimizer.com) has the book available as a .pdf for $5. I ordered the book from Amazon and think it is really worthwhile information and it is presented in a somewhat different fashion than other finance books I've read. I highly recommend it. Just curio...
by Scorpion
Wed Sep 08, 2010 10:33 am
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

Chapter 19 in Otar's book is titled "Optimum Asset Allocation -- Accumulation Stage". I found it interesting because he does not recommend something simple like "age in bonds" initially. He describes three stages "Seed money formation", "Mid-life growth", and...
by Scorpion
Tue Sep 07, 2010 10:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

I think you probably need to do some more research and reading. The articles at http://www.fundadvice.com (as previously mentioned) are good. But also you should get Jim C. Otar's "Unveiling the Retirement Myth" and use his free software retirementoptimizer to get "aftcasts" and...
by Scorpion
Tue Sep 07, 2010 10:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

Re: The Case for Bonds for Aggressive Investors

Each increment of marginally higher returns make little difference to the first year I achieve $2M and could theoretically retire. Each increment of marginally lower returns, however, make a BIG difference to when I could retire. Your math is wrong somewhere. If you use a public spreadsheet where t...
by Scorpion
Tue Sep 07, 2010 10:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

Thank you for all of the replies so far. Some thoughts: 1. I probably should have titled the thread "The Case for Fixed Income for High Income, Aggressive Investors." Sorry about that. 2. I have never thought about my savings "goals" before now, and I think that is the theme runn...
by Scorpion
Tue Sep 07, 2010 1:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

The Case for Bonds for Aggressive Investors

Although I am not a prolific poster on this board, many of my posts have been about whether bonds are truly needed in the portfolio of an investor with a long time horizon and high risk tolerance. Here is a link to my most recent portfolio post:http://www.bogleheads.org/forum/viewtopic.php?t=57864&a...
by Scorpion
Tue Sep 07, 2010 10:11 am
 
Forum: Investing - Help with Personal Investments
Topic: The Case for Bonds for Aggressive Investors
Replies: 56
Views: 6546

Thanks for all the responses. A few follow up notes. 1. I manage all my own funds now, so that's not an issue. I see little advantage to me getting directly involved with their finances. 2. Livesoft's link was very illuminating, but I'm not surprised. My company's 401k advisers have a similar attitu...
by Scorpion
Thu Aug 26, 2010 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial Advisor Question for $300k-$600K portfolio
Replies: 11
Views: 2143

Financial Advisor Question for $300k-$600K portfolio

As I have mentioned in other posts, my mom and her siblings stand to inherit money from their father. It is likely that a taxable gift will be given this year to each of them in the amount of between $300K and $600K. This will be at least half of what they receive when he dies. They have received tw...
by Scorpion
Wed Aug 25, 2010 1:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial Advisor Question for $300k-$600K portfolio
Replies: 11
Views: 2143

Sort of on topic, accounts at the same bank entitled in the same name only get $250K of total protection, right? somebody was trying to tell me recently that if you have different accounts (i.e., a checking, a savings, a CD), they are each entitled to $250K of protection. That somebody is wrong. ht...
by Scorpion
Wed Aug 25, 2010 1:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Many banks don't have the correct FDIC stickers/notices
Replies: 17
Views: 1852

Sort of on topic, accounts at the same bank entitled in the same name only get $250K of total protection, right? somebody was trying to tell me recently that if you have different accounts (i.e., a checking, a savings, a CD), they are each entitled to $250K of protection.
by Scorpion
Mon Aug 23, 2010 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Many banks don't have the correct FDIC stickers/notices
Replies: 17
Views: 1852

Thanks everyone. this was very helpful.
by Scorpion
Wed Aug 18, 2010 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting Pension to a Lump Sum
Replies: 11
Views: 1088

Thanks - I guess i would use the 30 year spot rate at 5.9%. That reduces the lump sum to about $900,000.
by Scorpion
Wed Aug 18, 2010 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting Pension to a Lump Sum
Replies: 11
Views: 1088

You can get a rough idea of the amount by inputting your $3,500 on immediateannuities.com. This will tell you how much you need to pony up to buy such a benefit on the open market. For a male age 60 with no dependents the purchase cost for a life annuity would be about $616,000. This would be rough...
by Scorpion
Wed Aug 18, 2010 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting Pension to a Lump Sum
Replies: 11
Views: 1088

Wow - good thoughts. So what would current bond rates be for the discount rate? If I assume a 3% COLA, a 3% discount rate and living to 95 without discounting for mortality, that yields $1.427M in NPV. Obviously it would be less if I discount for mortality.
by Scorpion
Wed Aug 18, 2010 1:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting Pension to a Lump Sum
Replies: 11
Views: 1088

Converting Pension to a Lump Sum

The following is a purely theoretical question to, in a sense, value someone's net worth. No actually conversion will be done. If a ~60 year old has a pension that pays $3,500 a month, what is that worth in lump sum terms? Would you just divide by 4% or 3% as a SWR and that's the answer? For example...
by Scorpion
Wed Aug 18, 2010 12:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Converting Pension to a Lump Sum
Replies: 11
Views: 1088

I am obsessed with increasing my net worth but not specifically because I want to be "rich". The real obsession is saving enough so I can quit working as soon as possible. So in reality I am obsessed with not working and I need "net worth" (money) to do that. +1. That matches my...
by Scorpion
Wed Aug 04, 2010 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are you obsessed with your NET WORTH?
Replies: 97
Views: 13400

I got a 3.75, 15 year fixed, so slightly better than I had hoped. I hope any future comments will support this decision, as now I'm locked in and need validation... :)
by Scorpion
Mon Aug 02, 2010 12:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I refinance?
Replies: 10
Views: 1430

What if you took option A, but payed it down using the monthly payment associated with the 10-year? That way, you have the benefit of being paid off nearer to your target retirement date, but the flexibility to lessen your payment in the event of the unexpected loss of income/cash/etc. That's an id...
by Scorpion
Mon Aug 02, 2010 11:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I refinance?
Replies: 10
Views: 1430

Should I refinance?

With interest rates so low, I am mulling over refinancing again. I already refi'd in Spring 2009 for a 4.75, 30 year fixed. I could now choose from the following options: a - 4.25, 30 year fixed b - 3.875, 15 year fixed, payments increase by $600 a month over option a c - 3.75, 10 year fixed, paymen...
by Scorpion
Mon Aug 02, 2010 8:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I refinance?
Replies: 10
Views: 1430

BigROI,

If you open a bank account to get say $100 and then close it right after that, is there a downside to your credit rating? You seem to be suggesting yes.
by Scorpion
Fri Jul 30, 2010 12:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tempted to take advantage of the bonus from Sharebuilder
Replies: 9
Views: 1544

I guess I was thinking that I could wait about 3 more years and then start adding some bonds. So I would only be at odds with the conventional wisdom for three more years. It seems to me I should maximize returns while I am young (and I would think, all things being equal, 100% E is a higher expecte...
by Scorpion
Wed Jul 21, 2010 10:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review Please
Replies: 14
Views: 1544
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