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Re: Backdoor Roth Step By Step

I don't mean to hijack the thread, but a related question: If I didn't submit a 8606 (for 2011 but done in 2012), do I have to send an entire amended return, just send an 8606, or ignore it?
by TomatoTomahto
Sat Sep 20, 2014 6:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Step By Step
Replies: 5
Views: 206

Re: How to achieve a balance between "saving" and "living"?!

I personally used the http://www.esplanner.com software to plan "consumption smoothing." It's not a panacea, and it would be more useful to you if you were older, but take a look. There's a free version that you might find sufficiently informative. One thing: I err on the conservative side...
by TomatoTomahto
Fri Sep 19, 2014 6:37 pm
 
Forum: Personal Consumer Issues
Topic: How to achieve a balance between "saving" and "living"?!
Replies: 30
Views: 2092

Re: 2015 Volvo XC-60 vs. Acura RDX

My saleswoman (and the others at the dealership) had a full day session with someone from Volvo HQ. it is apparently a big difference from pre-2015.5 and this car, although to the consumer it isn't apparent. It's only over time that I realize the things that are different from the 2013, and I don't ...
by TomatoTomahto
Fri Sep 19, 2014 5:32 pm
 
Forum: Personal Consumer Issues
Topic: 2015 Volvo XC-60 vs. Acura RDX
Replies: 21
Views: 1406

Re: 2015 Volvo XC-60 vs. Acura RDX

Browser, Ours doesn't do that. The good thing about the newer cars is that many of the things that are PITA can be fixed with a software update. If dealers tell Volvo that the customers want the stop-start feature to remain set to what it was last, or make it specific to whose key unlocked the door ...
by TomatoTomahto
Fri Sep 19, 2014 4:36 pm
 
Forum: Personal Consumer Issues
Topic: 2015 Volvo XC-60 vs. Acura RDX
Replies: 21
Views: 1406

Re: Florida prepaid college plan. Dumb or undumb?

Flyingbison, I liken it to air miles vs cash rewards. I know people who have done fine with air miles, but I'm a big fan of cash rewards. Cash is fungible. Apparently they try to not punish people whose kids don't go to an in-state school and they have not defaulted. But, I'm a simple guy, and cash ...
by TomatoTomahto
Fri Sep 19, 2014 2:44 pm
 
Forum: Investing - Theory, News & General
Topic: Florida prepaid college plan. Dumb or undumb?
Replies: 14
Views: 1047

Re: Does anyone know of a college FASFA expert?

Much over $50k in income, your chance for aid is small. Also, loans are the majority of what is considered aid. That's not the case with some full-need colleges (which admittedly are usually highly selective schools). Aid to families with incomes around $200k and corresponding assets are not unhear...
by TomatoTomahto
Fri Sep 19, 2014 2:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does anyone know of a college FASFA expert?
Replies: 13
Views: 836

Re: 2015 Volvo XC-60 vs. Acura RDX

Having driven the 2015.5 XC60 for a month or so now, I like it more every day. We got the old (large) engine since the small one is not available for AWD. The seemingly small improvements over the 2013 model are nevertheless noticeable and worthwhile.

A bigger fan all the time.
by TomatoTomahto
Fri Sep 19, 2014 1:49 pm
 
Forum: Personal Consumer Issues
Topic: 2015 Volvo XC-60 vs. Acura RDX
Replies: 21
Views: 1406

Re: Florida prepaid college plan. Dumb or undumb?

OTOH, it is harder to tell what college will look like and what the child will want to do in 18 years as you say. And I don't know the current policies if you go prepaid and they decide to not go to a state university or at all. I don't know what college will look like 18 years from now, but my gut...
by TomatoTomahto
Thu Sep 18, 2014 6:39 am
 
Forum: Investing - Theory, News & General
Topic: Florida prepaid college plan. Dumb or undumb?
Replies: 14
Views: 1047

Re: Most cost effective means of protecting physical assets

In my personal experience, dogs have been much more dangerous to me than firearms. Just as firearms require training, so do dogs. Fwiw, I had an anti pit bull bias until, long story, I rescued one. Sweet as she is, I hired a professional dog trainer to insure that nothing unfortunate would happen; ...
by TomatoTomahto
Tue Sep 16, 2014 10:23 am
 
Forum: Personal Consumer Issues
Topic: Most cost effective means of protecting physical assets
Replies: 50
Views: 3910

Re: Most cost effective means of protecting physical assets

Toto238, I have a pit bull like that. I think it's OCD; she gets freaked out if something is new or moved to a new location. New flower pot? Bark at it. She's generally quiet though, which is something I wish she'd teach the neighbor's dog. I don't think she'd protect our physical assets, but would ...
by TomatoTomahto
Tue Sep 16, 2014 7:06 am
 
Forum: Personal Consumer Issues
Topic: Most cost effective means of protecting physical assets
Replies: 50
Views: 3910

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

Maybe I missed it, but what is he planning on studying at U-M? The Michigan name will open a lot more doors than a degree from Florida or Alabama, especially if he is planning on going into finance, management consulting, etc. It will also help him if/when he applies to graduate school. Another unh...
by TomatoTomahto
Mon Sep 15, 2014 3:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

If you get a free ride to a name U. take it. Why pay full shot somewhere else? :oops: Junior might be sad? Awww! He's lucky he gets to go period. It always seems to come to this. For some of us, it is the happiest check we write. For others, it is out of the question. If junior (MY precious snowfla...
by TomatoTomahto
Mon Sep 15, 2014 12:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

By my meager calculation, that is a $140k + $160k = $300k decision. Quite the "swing" in costs for a pastor making well under $100k/year. Wait. I know my coffee has worn off, but isn't it a swing between paying $0 in tuition and paying $40x4 in tuition, or a $160k swing? Edited to correct...
by TomatoTomahto
Mon Sep 15, 2014 12:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

Btw, $140k might not cover the full cost of attending for undergraduate. :annoyed . At U of Michigan, the current in-state cost is $25k (room, board, tuition). For out of state students it is double that. For a newborn, a $140k gift is way overkill, in my opinion. L. I don't know if college costs w...
by TomatoTomahto
Sun Sep 14, 2014 11:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

That's a good point Ybsybs. I'm not sure how a 529 that has the student as beneficiary but is not owned by either the student or parent is treated. There is no obligation to actually use the money for the student, as the beneficiary can be changed at any time, so I wonder how FAFSA treats it. Do you...
by TomatoTomahto
Sun Sep 14, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: Best Outlook app for iPhone

killjoy2012 wrote:Nut sure why you just wouldn't use the default Mail app on the iPhone. :idea:


Uh, because it's junk maybe? It's fine for personal use, and I use it to see that I've received mail (I.e., as notification), but it's not fit for business purposes.
by TomatoTomahto
Sun Sep 14, 2014 10:25 pm
 
Forum: Personal Consumer Issues
Topic: Best Outlook app for iPhone
Replies: 11
Views: 679

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

2. Advice to others, that if you are posting on Bogleheads you should probably not be trying to fine-tune your kids' eligibility for need-based aid. I imagine that there are things one can do, but I think most often it becomes the aid tail wagging the portfolio dog. Retirement assets are treated di...
by TomatoTomahto
Sun Sep 14, 2014 10:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

Ps. I personally would skip the honors societies.
by TomatoTomahto
Sun Sep 14, 2014 10:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: College Savings vs Aid: 529s, UTMAs, FAFSA, and all tha

Our aid situation was not affected by 529s or UTMAs. My wife's income is too high -- even at generous highly selective need based schools, you are unlikely to get anything if annual income exceeds $200k or so. Most highly selective schools give no merit-based aid, on the theory that all of their stu...
by TomatoTomahto
Sun Sep 14, 2014 9:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: College Savings vs Aid: 529s, UTMAs, FAFSA, and all that
Replies: 47
Views: 2209

Re: Am I in over my head?

Welcome to the forum, Forward. I agree with your thoughts about getting an FA; you can good advice here for less than $2,500 per year. Eta: as in free. And with no conflicts of interest. I'm usually one to encourage more bonds rather than fewer, but if that asset allocation makes you comfortable, go...
by TomatoTomahto
Sun Sep 14, 2014 5:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I in over my head?
Replies: 51
Views: 4517

Re: Why do so many think their home is a foolproof investmen

An owner occupied home is obviously an investment. I didn't say it wasn't. What I wrote holds whether one considers it an investment or not. You didn't, but a number of others did, in so many words. And it's a investment whether one 'considers' it so or not. I'm not an economist and also not one wh...
by TomatoTomahto
Sat Sep 13, 2014 2:41 pm
 
Forum: Investing - Theory, News & General
Topic: Why do so many think their home is a foolproof investment?
Replies: 125
Views: 6363

Re: Why do so many think their home is a foolproof investmen

My home isn't an investment, so it can't be a foolproof one. The way it seems, I will get back what I've put into the house (ex. property taxes). I consider that fine, considering I got to live there for 20 years. A fair bit of what we put into the house was done for our pleasure and not to increase...
by TomatoTomahto
Sat Sep 13, 2014 1:01 pm
 
Forum: Investing - Theory, News & General
Topic: Why do so many think their home is a foolproof investment?
Replies: 125
Views: 6363

Re: Angry when stock market is down

I am always looking for a little humor in the strangest places and with all due respect to InvestorNewb and his almost daily investor angst cannot help chuckling each time I see the title of his post. One would think he would reallocate more to fixed income but nothing wrong with angst if willing t...
by TomatoTomahto
Fri Sep 12, 2014 11:36 pm
 
Forum: Investing - Theory, News & General
Topic: Angry when stock market is down
Replies: 79
Views: 3953

Re: Can college force low-deductible health insurance plan?

It does seem to be a conflict of interest to have the insurance salesman (the school) determine whether your existing insurance is acceptable. After the ACA, it seems that every health insurance must meet minimum standards of acceptability, and any insurance should be acceptable. Fwiw, my son's scho...
by TomatoTomahto
Fri Sep 12, 2014 10:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can college force low-deductible health insurance plan?
Replies: 12
Views: 617

Re: Does it work for me-- HSA as a retirement savings vehicl

I don't do math on Fridays, but I think I can answer one of your questions and answer one you didn't ask. You can keep your childcare FSA. To my understanding, if your HDHP does not cover dental and vision, you can have a medical FSA but only for expenses related to vision and dental. Double check w...
by TomatoTomahto
Fri Sep 12, 2014 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does it work for me-- HSA as a retirement savings vehicle
Replies: 3
Views: 491

Re: Angry when stock market is down

Since I'm still accumulating, it makes me happy.

It's not fun to see that there's now a sale on the shirts you just bought, unless you need another shirt.
by TomatoTomahto
Fri Sep 12, 2014 1:25 pm
 
Forum: Investing - Theory, News & General
Topic: Angry when stock market is down
Replies: 79
Views: 3953

Re: FIOS

We also kept service during Sandy. But the FIOS TV isn't that good. There are video artifacts, loss of sound/video synch (fixed by Pause, then Play), and frozen frames during real-time video watching. Perhaps it's the obsolete DVR you get for the "free" deal. That doesn't sound right. It ...
by TomatoTomahto
Fri Sep 12, 2014 12:46 pm
 
Forum: Personal Consumer Issues
Topic: FIOS [versus cable]
Replies: 28
Views: 2034

Re: FIOS

So do you just have internet? what speed? No phone in package? how much? :) Yes, I just have internet. It costs about $75/month. I don't know the speed, but it's fast enough for my purposes. I watch Netflix, Amazon Prime Videos and YouTube on my TV without issues. I think my wife streams music. The...
by TomatoTomahto
Fri Sep 12, 2014 11:37 am
 
Forum: Personal Consumer Issues
Topic: FIOS [versus cable]
Replies: 28
Views: 2034

Re: Neighborhood kid around 13 throwing rocks at my house

nyknicks4412 wrote:You guys are way too nice...

Well, there are worse things to be than way too nice. I don't know the kid, and he might be Satan's spawn for all I know, but more than likely he's a spectrum kid. Walk a mile in his parents' shoes.
by TomatoTomahto
Fri Sep 12, 2014 8:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Neighborhood kid around 13 throwing rocks at my house
Replies: 55
Views: 3068

Re: FIOS

FIOS has been very reliable for me, and I've had it for years. Because of silly blackout rules that existed until a couple of years ago, I had concurrent Comcast and FIOS service during hockey season, and could directly compare HD pictures. Comcast looked okay until you compared it to FIOS on the sa...
by TomatoTomahto
Fri Sep 12, 2014 8:55 am
 
Forum: Personal Consumer Issues
Topic: FIOS [versus cable]
Replies: 28
Views: 2034

Re: Vanguard Recommending Quicken Changes

However: Quicken doubled the value of my 401k, which I hold at Vanguard, because it tried to allocate contributions. Although that number looked good, I felt the need to delete all the doubled entries and now I am back to being moderately well-set. I KNEW there was a reason beyond sheer laziness th...
by TomatoTomahto
Thu Sep 11, 2014 4:45 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard Recommending Quicken Changes
Replies: 51
Views: 4513

Re: Quit/retire - should I do this?

I agree with not getting unemployment insurance under false pretenses. However, some employers will, for long term employees, agree to provide a severance package that they are not legally obligated to provide. If you're ready to pull the retirement trigger, it can't hurt to discuss it with a manage...
by TomatoTomahto
Thu Sep 11, 2014 3:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quit/retire - should I do this?
Replies: 41
Views: 3768

Re: Vanguard Recommending Quicken Changes

Grrr... :annoyed I followed the instructions per Vanguard's website, and now my share balances are all doubled. I can't find the "placeholder entries" to delete them. Very frustrating... Well, restore (you say you followed the instructions so you should have a backup) and try again. Don't...
by TomatoTomahto
Thu Sep 11, 2014 11:59 am
 
Forum: Personal Consumer Issues
Topic: Vanguard Recommending Quicken Changes
Replies: 51
Views: 4513

Re: A 'really good book' you did NOT enjoy

jcman01 wrote:The Fountainhead. One of the characters reminded me of a coworker at the time. Very depressing.


That book almost ruined a few months of HS for me. I became more insufferable than the average teen for a while.
by TomatoTomahto
Thu Sep 11, 2014 11:57 am
 
Forum: Personal Consumer Issues
Topic: A 'really good book' you did NOT enjoy
Replies: 226
Views: 10817

Re: College-bound teens and finances

Most colleges have some sort of a deal with a bank that offers free student checking and has a no-fee ATM on campus. Most students will have an account at that bank. My parents never made me an authorized user on any of their cards. I still got one at about 18 after being rejected for a couple. I t...
by TomatoTomahto
Thu Sep 11, 2014 8:36 am
 
Forum: Personal Finance (Not Investing)
Topic: College-bound teens and finances
Replies: 35
Views: 2408

Re: Which generator do you have?

Gd, I have neighbors with Generac and Kohler. When it came time for me to buy, I picked Kohler because of my electrician's recommendation and the difference in how they sounded when running.
by TomatoTomahto
Wed Sep 10, 2014 8:56 pm
 
Forum: Personal Consumer Issues
Topic: Which generator do you have?
Replies: 127
Views: 7439

Re: Would you quit over the pretend boss

If you are a manager, then why don't you manage the COO and the CIO to get 1. A huge raise 2. Incredible bonuses 3. More staff to complete the work they want done 4. More vacation days 5. A better work environment 6. Etc. I don't see how this comment helps the OP. Good managers can manage. You can ...
by TomatoTomahto
Wed Sep 10, 2014 4:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you quit over the pretend boss
Replies: 33
Views: 2975

Re: Hiring your kids

I personally don't believe in 12-year olds working enough to earn $6k per year, but I guess you're never too young to find out what a no-show job is [/sarcasm]
by TomatoTomahto
Wed Sep 10, 2014 4:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hiring your kids
Replies: 34
Views: 2097

Re: New Big iPhones

I have a 4s that is starting to wear down a bit (power switch failing, battery life declining, etc.). I would love a larger screen, but I can't help but wonder how that works in a pants pocket. I often wear cargo pants and shorts (I'm 63 years old and happily married; fashion concerns are the least ...
by TomatoTomahto
Wed Sep 10, 2014 9:52 am
 
Forum: Personal Consumer Issues
Topic: New Big iPhones - How to Upgrade Early?
Replies: 7
Views: 763

Re: College-bound teens and finances

My 18-year old is a bit of a tightwad, so I've been comfortable giving him a credit card to use for quite a while. When he turned 18, he opened a checking account with a bank that has ATMs on his campus, although there isn't much need for cash at college. He has a credit card in his name that we hav...
by TomatoTomahto
Wed Sep 10, 2014 9:34 am
 
Forum: Personal Finance (Not Investing)
Topic: College-bound teens and finances
Replies: 35
Views: 2408

Re: Poll: Which iPhone 6?

I like a lot of what's available in IOS 8, but surely given the recent hacking of iCloud that made private celebrity photos available to the public, maybe this wasn't a wise thing to tout: "Be the master of your photo collection."
by TomatoTomahto
Tue Sep 09, 2014 4:13 pm
 
Forum: Personal Consumer Issues
Topic: Poll: Which iPhone 6?
Replies: 41
Views: 2994

Re: Poll: Which iPhone 6?

I'm going to have to handle one of each to see if they'll fit comfortably in my pocket. I think I will probably go for the smaller one.

Eta: and since the power button on my iPhone 4s miraculously started working again, I might not buy either one.
by TomatoTomahto
Tue Sep 09, 2014 2:30 pm
 
Forum: Personal Consumer Issues
Topic: Poll: Which iPhone 6?
Replies: 41
Views: 2994

Re: UTMA to 529 conversion

I'll chime in but expect that those with more knowledge will address taxation issues. Be aware that the money in the UTMA belongs to the child when they reach a certain age (18 or 21 depending on state). In order to not be a (well-meaning and loving) thief, the 529 must also belong to the child, oth...
by TomatoTomahto
Tue Sep 09, 2014 2:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: UTMA to 529 conversion
Replies: 2
Views: 159

Re: Life insurance with a smoking spouse

theduke wrote:A spouse can't make the other spouse quit smoking, so please give the op a break on that subject.


I think we have.
by TomatoTomahto
Mon Sep 08, 2014 1:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1283

Re: Life insurance with a smoking spouse

How much income are you hoping to replace with the proceeds from life insurance?

I think perhaps you should use the portfolio help format to ask your question.
by TomatoTomahto
Mon Sep 08, 2014 1:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1283

Re: Life insurance with a smoking spouse

I see that while I was typing this, you said that you didn't want lectures about smoking. I am going to submit this anyway, in the hope that perhaps HE will read it. You should let him see this thread. When my then-wife was pregnant 33 years ago, I started the process of quitting by not smoking at h...
by TomatoTomahto
Mon Sep 08, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1283

Re: Employer finding out you have a financial cushion?

I do wonder what one of our executives thought when the guy he moved ahead of everyone else into a nice promotion and leadership position retired a year later at age 50 with $3 mil in the bank, leaving the department in the lurch. With all due respect the guy that retired was as surprised as anyone...
by TomatoTomahto
Mon Sep 08, 2014 10:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 62
Views: 6118

Re: Employer finding out you have a financial cushion?

Maybe I'm naive, but I like to think my employer looks at me in terms of what value I bring to the operation and makes decisions that essentially affect retention based on those, and that my bank account balance has relatively little to do with it. In other words, that my employer is motivated by s...
by TomatoTomahto
Sun Sep 07, 2014 5:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 62
Views: 6118

Re: Employer finding out you have a financial cushion?

Unfortunately, it probably depends on whether you are a man or a woman. Many employers know that a spouse is somewhat "captive". My wife once had a conversation with her (new) boss who she thinks was affected when he realized that I was the stay-at-home-spouse and that it was a single-inc...
by TomatoTomahto
Sun Sep 07, 2014 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 62
Views: 6118

Re: Employer finding out you have a financial cushion?

I have also heard that prospective employers for many kinds of positions may not want to hire someone who is so financially well off that the person does not care about doing a good job and can just walk away whenever they please. The contra to that is that if they don't need the money, perhaps the...
by TomatoTomahto
Sun Sep 07, 2014 4:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer finding out you have a financial cushion?
Replies: 62
Views: 6118
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