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Re: Need opinions about my broker's strategy

is there a chance the options selling strategy is a viable one? Zero chance of that. Options are a zero sum game where there is a winner for every loser, but there are lots of transactions cost and you have to pay a good part of any winnings in taxes. For you to win you are just betting that you ar...
by Watty
Thu May 23, 2013 10:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need opinions about my broker's strategy
Replies: 35
Views: 1469

Re: Roth vs traditional ira poll

When you look at this question you need to remember that the median household income in the US is only a little bit over $50,000. http://en.wikipedia.org/wiki/Household_income_in_the_United_States And that a large percentage of people that are working do not pay any income tax they either have low i...
by Watty
Thu May 23, 2013 10:25 pm
 
Forum: Investing - Theory, News & General
Topic: Roth vs traditional ira poll
Replies: 28
Views: 1317

Re: Advice Needed For Second Investment Account

that $17,500 is my limit. Are you guys saying that maximum is for the individual only and does not include matched funds? That is true. There is a separate limit for the employer contributions of about $51K. http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics---401(k)-a...
by Watty
Wed May 22, 2013 11:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice Needed For Second Investment Account
Replies: 19
Views: 883

Re: Funding from 52.5 to 59.5

It would be good to run your numbers to see how your social security will be taxed; http://www.bogleheads.org/wiki/Taxation_of_Social_Security_benefits http://turbotax.intuit.com/tax-tools/calculators/taxcaster/?cid=ppc_gg_b_stan_dk_us-nstax_lv-brand-tax-caster&srid=sr3_45613056_go&adid=Free...
by Watty
Wed May 22, 2013 11:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Funding from 52.5 to 59.5
Replies: 20
Views: 1229

Re: Poll: Refinance to 15 year mortgage or keep 30 year?

If you and any spouse are not maxing out all of your deductible retirement accounts then putting the $500 a month($6K a year) into a deductible retirement account would likely be a better choice then going with the 15 year mortgage. What your numbers look like for that? If you are not maxing out you...
by Watty
Tue May 21, 2013 10:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Refinance to 15 year mortgage or keep 30 year?
Replies: 10
Views: 915

Re: The trickiest question?

The way that I and handling the balancing act of being aggressive enough to get a decent return and the need to be safe as I near retirement is that; 1) I have a higher percentage(about 20% more) of my investments in stocks than is typically recommended for someone my age but I am also targeting bei...
by Watty
Sat May 18, 2013 11:32 pm
 
Forum: Investing - Theory, News & General
Topic: The trickiest question?
Replies: 34
Views: 2803

Re: What's the point?

making $600K+/year You also need to look at the after tax income of your current job and a less stressful but lower paying one. You might be making $600K, but after taxes you would be clearing a lot less than that so the after tax income of a lower paying job might not be as big a reduction as it s...
by Watty
Sat May 18, 2013 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the point? [job frustration]
Replies: 42
Views: 3773

Re: Pay down 2.75% 15 yr mortgage vs invest in taxable accou

Perhaps you may want to redirect some of your maxed-out 401k's to a couple 529 plans for a while, for your two kids?



+1

Saving up to pay cash for your next car would be an option too if you don't want to use your brokerage account to pay for it.
by Watty
Sat May 18, 2013 8:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Pay down 2.75% 15 yr mortgage vs invest in taxable accout
Replies: 11
Views: 762

Re: what to do with unsellable land

A big question that makes it hard to know what to do with the land is that we don’t have a clue as to what it would be worth if it was buildable. In some parts of the country that land could be worth a lot, but in much of the country buildable land like that might not be worth the price of a good ca...
by Watty
Sat May 18, 2013 4:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: what to do with unsellable land
Replies: 32
Views: 2300

Re: Summer car rental in the SF Bay area

Be sure to ask the company that he will be working for if they have any agreements for corporate discounts with any rental car companies. It is likely that even if you are paying for the rental you can still get the discount. FYI, The car insurance that comes with a credit card is only for good for ...
by Watty
Fri May 17, 2013 4:40 pm
 
Forum: Personal Consumer Issues
Topic: Summer car rental in the SF Bay area
Replies: 8
Views: 414

Re: Investment versus Debt Payoff Question

Thanks for the explanation Watty. Any thoughts on taking a small loan for 25k to apply directly against my mortgage to get me below the LTV and the ability to refi without a PMI? Even with an interest rate on the 25k of 6-7%, the ability to lock into a 3.5% APR without a PMI seems like a good long ...
by Watty
Fri May 17, 2013 3:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment versus Debt Payoff Question
Replies: 15
Views: 1062

Re: Roth... to convert or not to convert?

One thing that hasn't been mentioned is that that the consequences of making an incorrect choice are not really equal. By this I mean that if you choose to keep the money in an IRA and eventually end up in a higher tax bracket then you are doing pretty well financially and paying more taxes than you...
by Watty
Fri May 17, 2013 12:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth... to convert or not to convert?
Replies: 35
Views: 1473

Re: $550M Powerball Jackpot - take cash or annuity?

Cash
$350,100,000



Most likely after looking at the taxes I would keep maybe $50 million and use the rest for charity to avoid most of the taxes. Realistically having more than that would make no possible difference in my or my heirs life.
by Watty
Fri May 17, 2013 12:26 pm
 
Forum: Investing - Theory, News & General
Topic: $600M Powerball Jackpot - take cash or annuity?
Replies: 86
Views: 4503

Re: Help understanding fees, please

All that to say.....I understand that past performance is not an indicator of future results, so I can't rely on that. Is that what this all boils down to? Just to reinforce this, in a lot of ways past performance is often not even a true indicator of past performance. The problem is that poorly pe...
by Watty
Fri May 17, 2013 12:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help understanding fees, please
Replies: 13
Views: 783

Re: Roth... to convert or not to convert?

"If you will be capital gains taxes on the assets you sell to pay the 15% taxes on the conversion then your effective tax rate will be higher than 15%." I'm not understanding this, in the 15% bracket currently Cap gains taxes are 0% as long as I stay in the 15% bracket. (Long term cap gai...
by Watty
Thu May 16, 2013 9:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth... to convert or not to convert?
Replies: 35
Views: 1473

Re: Roth... to convert or not to convert?

....but is there any other advantage I'm not considering? Did the numbers you ran include the taxation of social security? http://www.bogleheads.org/wiki/Taxation_of_Social_Security_benefits If your income is in the range where each dollar of IRA withdrawals makes more of your social security taxab...
by Watty
Thu May 16, 2013 8:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth... to convert or not to convert?
Replies: 35
Views: 1473

Re: My wife's 401k options - To contribute or not?

The other option would be for the money to go into our taxable account. One way of looking at it is that the earnings on tax deferred part of the 401K contribution will pay for the higher expenses so that will usually make the 401K worthwhile. For example of you are in the 33% tax bracket then you ...
by Watty
Wed May 15, 2013 12:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: My wife's 401k options - To contribute or not?
Replies: 10
Views: 548

Re: 23 year old, debt free, 100k/year.... how to invest

Probably a silly question, where can I find the expense ratios of each? Check your 401K website or the paperwork that you got from the HR department. You need to check there instead of just going to the Fidelity web site since your 401K may have negotiated a different expense ratio. Here are some l...
by Watty
Tue May 14, 2013 11:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: 23 year old, debt free, 100k/year.... how to invest
Replies: 12
Views: 1723

Re: endorsing a check - deposit to Vanguard

It is pretty rare but once in a while a check could be lost in the mail so you need to consider how difficult it would be to replace a lost check if you decide to mail it. I once had a large(to me) check that would have been difficult to replace because of the company it came from(a long story) so I...
by Watty
Tue May 14, 2013 11:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: endorsing a check - deposit to Vanguard
Replies: 23
Views: 1391

Re: Investment versus Debt Payoff Question

How exactly did you calculate the net worth? I am curious what the variables are in accounting for that, which I am assuming is taking forward projected assets against liabilities. If I increased savings by roughly another 1k per month--either through additional income after tax, or additional expe...
by Watty
Tue May 14, 2013 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment versus Debt Payoff Question
Replies: 15
Views: 1062

Re: 24 yr old son helping mother with Investments

The best you can do is figure out how to get your mom to listen to you and to see another advisor.


By advisor I am sure that is meant to be one that she is paying by the hour that is willing to give a clear written statement that they are not getting any other compensation.
by Watty
Mon May 13, 2013 11:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: 24 yr old son helping mother with Investments
Replies: 8
Views: 643

Re: 24 yr old son helping mother with Investments

What questions should I ask this advisor? If you want see the advisor squirm ask if they have a "fiduciary responsibility" (Google this) to do what is in your Mom's best interests. There problem is that there are real paid advisors that do have a "fiduciary responsibility" to th...
by Watty
Mon May 13, 2013 10:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: 24 yr old son helping mother with Investments
Replies: 8
Views: 643

Re: Just One Stock. What do you think?

Is there a resource online to help play out this kind of transaction, or would I need to sit down with an accountant ($) and personal advisor ($$) for this kind of trade? If you(or someone you know) have last years tax software you can make up a dummy return to see how much in taxes you would need ...
by Watty
Mon May 13, 2013 10:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Just One Stock. What do you think?
Replies: 25
Views: 1520

Re: pay down 1.99% mortgage?

If you had a paid of house would you take out a home equity loan just to invest it?
by Watty
Mon May 13, 2013 10:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: pay down 1.99% mortgage?
Replies: 30
Views: 1797

Re: SF BayArea - Buy Home or not

It can no doubt be done but raising kids in a 919 square foot condo would be a significant tradeoff especially as the kids got older or if you have more than one kid. If you are planning on having kids then you will need to be brutally realistic about just how important the good schools and locking ...
by Watty
Mon May 13, 2013 4:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: SF BayArea - Buy Home or not
Replies: 45
Views: 2039

Re: Investment versus Debt Payoff Question

Married, both age 28, with net household income of 190k.... I can save roughly 1.5k after taxes/401k/all expenses What should I make my priority, Looking at the rest of your numbers it looks like your current net worth is somewhere around negative $50,000. At the current savings rate you will proba...
by Watty
Mon May 13, 2013 1:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment versus Debt Payoff Question
Replies: 15
Views: 1062

Re: Mother found dream house - spending too much?

A) Do you think she should keep her house and me and my sister can take a small mortgage on the new house (say for 100k or slightly more)? We can then rent her house out and keep it. No that would leave way to much a percentage of her net worth in home equity. She really needs that 246K in cash for...
by Watty
Mon May 13, 2013 12:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mother found dream house - spending too much?
Replies: 15
Views: 1364

Re: Can I retire?

I think you are underestimating the chances that you or your wife will get at least a part time "fun job" just to give you something interesting to do. This is especially true while your kids are in school and traveling would be difficult to do during the school year. Having some income ea...
by Watty
Sun May 12, 2013 10:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I retire?
Replies: 76
Views: 6256

Re: to refi or not

Your current mortgage company has an interest in keeping you in the higher interest rate mortgage so I would take what they say with a huge grain of salt.

You are just about at the 20% equity level that would allow you to get a convention mortgage without paying PMI so I would really try for that.
by Watty
Sat May 11, 2013 10:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: to refi or not
Replies: 4
Views: 424

Re: Use taxable account to prepay mortgage?

There is not enough information. When this has come up before the option that often looks best is to keep the money invested until you have enough to pay it off completely all at once. I would also look at it a how much this is of your net worth. If this is more than 20 to 30% of your net worth then...
by Watty
Sat May 11, 2013 10:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Use taxable account to prepay mortgage?
Replies: 24
Views: 1191

Re: tax friendly states for retirees

Beware of general lists, the problem is that the relative tax load for people of different income levels may be a lot different than what the lists are looking at. I would be best to actually do a sample tax return and make a spreadsheet of all the property and sales taxes that you will be paying. S...
by Watty
Sat May 11, 2013 10:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax friendly states for retirees
Replies: 95
Views: 5690

Re: Moving into a 400 s.f. condo?

There is a wiki you should check out; http://www.bogleheads.org/wiki/Owning_vs_Renting If your current apartment is not the same then be sure take that into account. A big factor that people often overlook is that once you buy then you are much less mobile in your career. I have seen promotions and ...
by Watty
Sat May 11, 2013 3:46 pm
 
Forum: Personal Consumer Issues
Topic: Moving into a 400 s.f. condo?
Replies: 16
Views: 1910

Re: Small Loan Refi Suggestions. Please!!!

A good thing to do would be to call your current lender and ask if they will "recast your mortgage" (Google this) if you make a large prepayment. Ask specifically for a "recast" and make sure that you get to someone that is familiar with this. You should a letter with all of the ...
by Watty
Fri May 10, 2013 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Small Loan Refi Suggestions. Please!!!
Replies: 18
Views: 579

Re: Health insurance for adult child

Check with your HR department to see if he can get COBRA coverage after he turns 26. If so then that would take him through when he can get insurance next year. A quick Google found this; http://www.bluecrossma.com/national-health-care-reform/faqs/dependent-care-coverage-extension-26.html See the CO...
by Watty
Thu May 09, 2013 9:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health insurance for adult child
Replies: 9
Views: 656

Re: Savannah, Ga trip

Savannah has some pretty dodgy area so be careful in your selection of hotels. The ones in the historic district are pretty expensive. If you are on a tight budget there are lots of generic chain motels on the interstate out in Pooler which is a short drive out of town. Bonaventure Cemetery is the h...
by Watty
Thu May 09, 2013 5:48 pm
 
Forum: Personal Consumer Issues
Topic: Savannah, Ga trip
Replies: 11
Views: 600

Re: New college grad seeking for investment advices

Here is a link to the "getting started" Wiki. http://www.bogleheads.org/wiki/Getting_Started There is a lot of great information in the books and links but you have plenty of time to learn. Since you will be starting out with a relatively small amount making all the best choices right now ...
by Watty
Thu May 09, 2013 12:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: New college grad seeking for investment advices
Replies: 13
Views: 737

Re: Which debt goes first? Save money instead?

My tax rate (state and fed) winds up being around 35-38% ...... Also, 20% of our gross income goes into ROTH 401k accounts (something that has been debated at length on other threads - both percentage and ROTH). Putting money in the Roth 401K in that tax bracket does not seem to make sense. Could y...
by Watty
Wed May 08, 2013 10:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which debt goes first? Save money instead?
Replies: 16
Views: 1413

Re: the milestones, they are a-fallin'

I actually think I like bear markets better.


If you are still in the accumulation phase then you should.
by Watty
Wed May 08, 2013 10:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: the milestones, they are a-fallin'
Replies: 42
Views: 3370

Re: Refinance small condo loan?

One thing she should do is call her current lender to see if they have any special refinance programs. Often they will just try to give existing customers a junky offer since some people will take it because it is easier than doing some research so you have to be careful and get all the details but ...
by Watty
Wed May 08, 2013 10:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Refinance small condo loan?
Replies: 6
Views: 455

Re: Pay off debt versus saving for down payment

You didn't mention if the student loan interest is deductible or not. If not then the 4.8% interest rate is likely a lot higher than the effective after tax interest rate will be on the mortgage even if you have to pay PMI so paying the 4.8% loan first would make sense. It would be good to call a mo...
by Watty
Wed May 08, 2013 12:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Pay off debt versus saving for down payment
Replies: 11
Views: 878

Re: Universal vs Term Life Insurance (for real)

I've searched the forums and most of the discussions on permanent vs term life insurance usually quickly summarize to "buy term & invest the rest". One thing to keep in mind is that if you are not already maxing out all your deductible retirement accounts(401K, IRA, etc) then you coul...
by Watty
Tue May 07, 2013 11:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Universal vs Term Life Insurance (for real)
Replies: 22
Views: 1221

Re: Renting - The Boglehead Way

I will take any and all input regarding anything, especially rental insurance, security deposits (how much to give and how to get them back), and any other pertinent topics that will make renting a pleasant experience. It is likely that you will be getting a one year lease. There are pros and cons ...
by Watty
Tue May 07, 2013 11:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renting - The Boglehead Way
Replies: 39
Views: 3420

Re: Help with potential job offer

That's a good point, RM, and a good way to think about it. Okay I'm going to be an engineer here and make a table: Company Makes it Big: Company Doesn't Make it Big: I go with this company: Huge return Loss of opportunity cost don't go with this company Huge regret Feel more secure in hindsight, ha...
by Watty
Tue May 07, 2013 10:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with potential job offer
Replies: 47
Views: 1744

Re: How Much Did You Spend on Your Engagement Ring??

I got my wife's engagement ring at a reputable higher end auction house where they would refund your money if you had it appraised within a few days and the stone turned out not to be as described. I bought it without her there or knowing that I was buying it so I would not be under pressure to pay ...
by Watty
Tue May 07, 2013 10:28 pm
 
Forum: Personal Consumer Issues
Topic: How Much Did You Spend on Your Engagement Ring??
Replies: 252
Views: 9782

Re: 401k questions. I am confused over what my 401k can do 4

It makes sense, and the light bulb has come on, but how do I know how much to save to make a difference in my taxes? It will not be exact because the laws and rates may change but if you have last years tax software then can make a dummy copy of last years tax returns and change the numbers in that...
by Watty
Mon May 06, 2013 10:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401k questions. I am confused over what my 401k can do 4 me
Replies: 6
Views: 451

Re: Financial gains when downsizing home

What other financial factors should be considered? The way they are built now the typical suburban house in the US is a depreciating asset and only a very small percentage of them will not be torn down by the time they are 100 years old. There will be exceptions of course but if you can try to look...
by Watty
Mon May 06, 2013 10:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial gains when downsizing home
Replies: 8
Views: 874

Re: Piles of cash

One thing that I have not seen mentioned is that if you still have a mortgage then one way to get the money back into the stock market would be to pay off the mortgage then invest your "mortgage payment" each month in the stock market. I don't agree with it but an argument can be made for ...
by Watty
Mon May 06, 2013 10:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Piles of cash
Replies: 51
Views: 5103

Re: Important Retirement Deadlines

There is also a wiki on this with some more dates.

http://www.bogleheads.org/wiki/Checklis ... ment_dates
by Watty
Mon May 06, 2013 9:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Important Retirement Deadlines
Replies: 3
Views: 810

Re: NYC to Miami (r/t) in August

I live in NJ. When I fly anywhere, the car service costs for me round trip is about $300. Think about it - NYC to Florida for $300 round trip. It seems like so little !!! If you are talking about a car to get you to and from the airport then there may be a less expensive way that you can use. What ...
by Watty
Mon May 06, 2013 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: NYC to Miami (r/t) in August
Replies: 17
Views: 823

Re: Should I sell my 2 rental properties?

Congratulation on expecting a baby. A third option would be to hire a property management company to manage the properties. It would be good to figure out what your situation will be with taxes if you sell. If you have been taking depreciation then that could cause you to have more capital gains tha...
by Watty
Sun May 05, 2013 11:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I sell my 2 rental properties?
Replies: 20
Views: 1469
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