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Re: Roth conversion from traditional IRA

We don't know enough information to even guess.For instance what is your current tax rate? Tax Rate: 28% Federal, 4% State Are you going to retire early or have low tax rate years? I plan to retire 20 years from now. Ideally I would quit working at that time and have low tax rate years living off s...
by cherijoh
Sat Oct 25, 2014 5:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Roth conversion from traditional IRA
Replies: 14
Views: 983

Re: Feeling rich to feeling poor overnight

Probably not a hoax - I lived in a large midtown development called Tudor City. My apt was 9 feet by 17'6". I think with the bathroom is was about 196 square feet. There was no kitchen - and a Murphy bed. Bought it, loved it, and when I got a larger place I rented it out for many years. Finall...
by cherijoh
Sat Oct 25, 2014 1:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 58
Views: 5991

Re: Help on Turbo Tax Long term cap gains

Ok - I went to H&R Block and didn't learn all that much but two things: 1) when I enter my Edit Long Term Cap Gains and change the sale price and cost basis - the Totals on the screen stay the same as the first entry (in this case the totals all stay at Sale Price $5000, Cost Basis $3000 regard...
by cherijoh
Sat Oct 25, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Help on Turbo Tax Long term cap gains
Replies: 29
Views: 1408

Re: Would You Sell Or Continue Renting Out My Condo?

See the link here regarding the sale of a house used as both a primary residence and rental property. They give two examples - one where the taxable gains were prorated and the other where they were not. In both cases any recapture for depreciation (whether or not you claimed it or not on your taxes...
by cherijoh
Thu Oct 23, 2014 8:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would You Sell Or Continue Renting Out My Condo?
Replies: 13
Views: 1221

Re: Mortgage Options For Home

15 yr or 30 fixed rate. ARM's are terrible and being pushed by unethical lenders and bought by suckers. Don't be in a hurry to pay it off. It's cheap debt and I suspect you itemize your taxes. This rate is not high on a historical basis. Like to make sweeping generalizations, much? You may be confu...
by cherijoh
Thu Oct 23, 2014 6:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Options For Home
Replies: 16
Views: 985

Re: lump sum now vs pension later?

In other words, the three annuities do look equivalent, but that's just kind of a lucky coincidence. Usually the offer in the plan documents will indicate any incentives that may be applied, so I do think this is more than a coincidence. However, that is not saying that the lump sum equivalent woul...
by cherijoh
Thu Oct 23, 2014 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: lump sum now vs pension later?
Replies: 45
Views: 3957

Re: How to calculate how well you're doing?

Maybe I'm doing something wrong. I created this test sheet. 7% per year, compounded monthly, $4000 added per month. Date Added Balance 01/01/2013 -$4,000.00 $4,000.00 02/01/2013 -$4,000.00 $8,023.33 03/01/2013 -$4,000.00 $12,070.14 04/01/2013 -$4,000.00 $16,140.55 05/01/2013 -$4,000.00 $20,234.70 0...
by cherijoh
Thu Oct 23, 2014 4:50 pm
 
Forum: Investing - Theory, News & General
Topic: How to calculate how well you're doing?
Replies: 9
Views: 1249

Re: Loaning money to invest?

I think 15 year mortgage is better than 30 year and no mortgage is better than 15. I would not borrow money to invest it if I had a mortgage, I'd just invest it by making extra mortgage payments and having no debt. That's investing. The feeling of security one has in a life without debt, to me (as ...
by cherijoh
Thu Oct 23, 2014 10:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Loaning money to invest?
Replies: 13
Views: 1294

Re: How do so many HCEs contribute the max to 401k

Debating whether or not I should kick it up to 50% for the rest of the year and see what happens. Does anyone have any experience with over contributing as a HCE? If your company has told you that you are an HCE and that your limit is x% then you don't want to mess with that. Your only recourse is ...
by cherijoh
Mon Oct 20, 2014 3:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: How do so many HCEs contribute the max to 401k
Replies: 30
Views: 2642

Re: Dumb CD question

I'm comparing directly purchased (from local credit union) CDs of 21, 34, and 60 months offering 2.0%, 2.25%, and 2.50% APY respectively. There is a 6-month interest penalty for early redemption on each. Is there any reason in the world not to purchase the one with the highest APY (60 months), sinc...
by cherijoh
Mon Oct 20, 2014 7:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Dumb CD question
Replies: 10
Views: 902

Re: Need advice: retired, now return to work FT at same empl

So, the employer has maintained that you'll receive benefits as a new employee would? I guess I would have assumed otherwise. It's certainly reasonable to try to negotiate for better, but, except at higher levels in the organization, some policies in larger companies are pretty much set in stone. M...
by cherijoh
Sun Oct 19, 2014 4:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice: retired, now return to work FT at same employer
Replies: 17
Views: 1315

Re: Diversified Brokerage Account [Estate proceeds]

I recently divided my mother's brokerage account 3 ways after she passed away. I was advised by her broker to sell everything, and split the assets with my brother and sister, reinvest with him and start over with new investments -- three separate accounts. After further research, I was advised to ...
by cherijoh
Sun Oct 19, 2014 2:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Diversified Brokerage Account [Estate proceeds]
Replies: 4
Views: 182

Re: Got my first cold call - does this mean I've 'made it?'

Somehow, I received an investment adviser 'cold call' a couple of days ago at my work number. I'm on DNC lists at home. Not sure how this information got out - perhaps someone just randomly trying various extensions after looking up our corporate number? I might not be giving them enough credit on ...
by cherijoh
Sun Oct 19, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Got my first cold call - does this mean I've 'made it?'
Replies: 30
Views: 5422

Re: Health care tilt

As a doctor, your human capital is already heavily tilted toward the health care sector. It seems to me that--if anything--you would want your financial portfolio to tilt away from health care (to compensate for the fact that your human capital is 100% in health care.) If *anyone* should be tilting...
by cherijoh
Sun Oct 19, 2014 12:48 pm
 
Forum: Investing - Theory, News & General
Topic: Health care tilt
Replies: 77
Views: 3751

Re: Help me choose... [Retirement withdrawal strategy]

Retiree here... Just finished reconfiguring my portfolio for the next 30 years having just turned 65. SS and SPIA's will cover my "basic" needs (about 60% of current expenses). I am withdrawing about 3.5% of our portfolio annually to support the balance of our current expenses. How much o...
by cherijoh
Sun Oct 19, 2014 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help me choose... [Retirement withdrawal strategy]
Replies: 12
Views: 1272

Re: Need advice: retired, now return to work FT at same empl

So, the employer has maintained that you'll receive benefits as a new employee would? I guess I would have assumed otherwise. It's certainly reasonable to try to negotiate for better, but, except at higher levels in the organization, some policies in larger companies are pretty much set in stone. M...
by cherijoh
Sun Oct 19, 2014 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice: retired, now return to work FT at same employer
Replies: 17
Views: 1315

Re: Need advice: retired, now return to work FT at same empl

munemaker wrote:Is 401k match a negotiable item? I doubt it be a use it is inherent in the plan design, which is a legal document.


No way can you negotiate on a 401-k match. There are all kinds of fairness tests required to comply with it being a qualified plan.
by cherijoh
Sun Oct 19, 2014 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice: retired, now return to work FT at same employer
Replies: 17
Views: 1315

Re: Mega bus vacation with toddlers.

21 hours, eh? 1.5 and 3 years old? Dear God, have pity on the rest of the folks on the bus and pay more to drive yourselves. Lol. I thought that since we are not driving. We will be available to entertain them. Maybe this is a bad idea. We have a brand new mini van and we do not want to drive aroun...
by cherijoh
Sat Oct 18, 2014 3:02 pm
 
Forum: Personal Consumer Issues
Topic: Mega bus vacation with toddlers.
Replies: 27
Views: 1912

Re: Anyone cancelling travel plans?

We are booked for a cruise Nov. 29 and frankly, we are wondering if its a good idea to be on a cruise ship with the current epidemic scare. We realize its a tiny probability, but still....being in a closed ship with several thousand strangers not knowing if there is a lurking contagion. Are we bein...
by cherijoh
Sat Oct 18, 2014 2:48 pm
 
Forum: Personal Consumer Issues
Topic: Anyone cancelling travel plans?
Replies: 117
Views: 6297

Re: Missing Dividend Payment Information

There possibility does exist that whatever firm runs the plan takes the dividends for themselves. One way to find out the fees is to not contribute to a fund over a quarter and see that its return matches the return of the index or a proxy fund with dividends re-invested. If your dividends were goi...
by cherijoh
Sat Oct 18, 2014 2:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Missing Dividend Payment Information
Replies: 27
Views: 1679

Re: Mega bus vacation with toddlers.

21 hours, eh? 1.5 and 3 years old? Dear God, have pity on the rest of the folks on the bus and pay more to drive yourselves. Lol. I thought that since we are not driving. We will be available to entertain them. Maybe this is a bad idea. We have a brand new mini van and we do not want to drive aroun...
by cherijoh
Sat Oct 18, 2014 1:06 pm
 
Forum: Personal Consumer Issues
Topic: Mega bus vacation with toddlers.
Replies: 27
Views: 1912

Re: Need advice: retired, now return to work FT at same empl

Free consultations with financial planners, none engaged/paid. The circumstances were shared by about 50 coworkers who retired at the same time. When interest rates go up, so do the segment rates that determine lump sum values. Projections showed that would have a very adverse affect on lump sum pe...
by cherijoh
Sat Oct 18, 2014 12:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need advice: retired, now return to work FT at same employer
Replies: 17
Views: 1315

Re: Need advice: retired, now return to work FT at same empl

Full time OK with me because this is a newly-created position right in my wheelhouse, and I always planned to work to my mid-60's. Retirement at age 55 was advice of Financial Planners who projected that rising rates were likely to unacceptably erode my lump sum. I'm risk-averse, so went with that....
by cherijoh
Sat Oct 18, 2014 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Need advice: retired, now return to work FT at same employer
Replies: 17
Views: 1315

Re: Making an offer today

After much deliberation and input from this board, I am pulling the trigger on making an offer on a 1-BR condo. Thanks to everyone who has offered their input. I will disclose financial details at a later date. My offer is well below asking price and somewhat lower than my agent suggested. I realiz...
by cherijoh
Sat Oct 18, 2014 11:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4668

Re: Please help me solve my wireless router issues

My newly installed cable tv/internet enters the house via a coax cable. The coax is connected to my cable modem (new Motorola 6141). From the modem there is an internet cable and another cable to the tv. Here is the situation: 1. Cable tv works flawlessly. 2. Internet is available when my laptop is...
by cherijoh
Thu Oct 16, 2014 7:11 pm
 
Forum: Personal Consumer Issues
Topic: Please help me solve my wireless router issues
Replies: 29
Views: 1203

Re: Index usage error in Mortgage Document.

Based on the rate he/she quoted (0.11%) they are definitely referencing the 1-year rates. Here's some recent data from the St Louis Federal Reserve website . But I have no clue regarding how one has a 5-year constant maturity on a 1-year security. The website lists the data series as "1-Year Tr...
by cherijoh
Thu Oct 16, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Index usage error in Mortgage Document.
Replies: 13
Views: 733

Re: Retirement pension options -- CONFUSED!

I find it hard to compare my situation to the other posts. I have no savings...no 401k. I mortgaged my home the 2nd time to help my daughter with college. I also have a parent plus college loan. I live from check no check. No credit debt other than the above. When I do retire I'll have SS and anoth...
by cherijoh
Thu Oct 16, 2014 6:03 am
 
Forum: Investing - Help with Personal Investments
Topic: Retirement pension options -- CONFUSED!
Replies: 15
Views: 1248

Re: Index usage error in Mortgage Document.

Was a lawyer involved in the closing? Even though the closing documents are mostly boilerplate, it amazing how many mistakes are made. I have purchased two homes and refinanced each a couple of times, so I have gone to closing 6 times. There were errors twice, both of which I found in reviewing the ...
by cherijoh
Wed Oct 15, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Index usage error in Mortgage Document.
Replies: 13
Views: 733

Re: Another Pension Buyout Reference Point

Ubermax see my post here on IRR. It is the exact same principle. I am assuming how long the pension payments will last, but I am solving for the interest rate to give me a net present value of zero . If you pick an interest rate then you can get either a positive or negative net present value which ...
by cherijoh
Tue Oct 14, 2014 11:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Another Pension Buyout Reference Point
Replies: 5
Views: 820

Re: lump sum now vs pension later?

In it there are three annuity streams beginning at ages 45, 55, and 65. All three of them have the same present value of $101,040 when discounted by the computed Internal Rates of Return (IRR). So why do you say they have different present values? Cruncher , I'm not referring to your post , you did...
by cherijoh
Tue Oct 14, 2014 11:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: lump sum now vs pension later?
Replies: 45
Views: 3957

Re: Airline carry on limits

Alternately I have an even smaller carry on roller bag that I could use, but then I would need some flexibility on what they call the personal item. I could use a little day pack that is the size of a big woman's purse. Would they let me carry that on? Your personal item can be a backpack, briefcas...
by cherijoh
Mon Oct 13, 2014 7:54 pm
 
Forum: Personal Consumer Issues
Topic: Airline carry on limits
Replies: 59
Views: 3004

Re: Sale of house-closing tomorrow, buyer is backing out

I agree with the other posters. It probably won't be worth the trouble to sue. The legal terminology is called Specific Performance. It is an order of a court which requires a party to perform a specific act, usually what is stated in a contract. To add more to this, courts very rarely enforce Spec...
by cherijoh
Mon Oct 13, 2014 6:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sale of house-closing tomorrow, buyer is backing out
Replies: 60
Views: 5081

Re: Sale of house-closing tomorrow, buyer is backing out

I had friends who sold their house and had the buyer call the night before closing to tell them he had lost his job that day and was backing out of the deal. They were relocating out of state and downsizing at the same time, so they had already sold most of the furniture, packed up everything else, ...
by cherijoh
Mon Oct 13, 2014 4:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sale of house-closing tomorrow, buyer is backing out
Replies: 60
Views: 5081

Re: Bought a house, now time to think about retirement (help

My spouse and I are 35. One child, one on the way. HHI: $230,000. He makes $100,000; I make $130,000; $100,000 of this comes from my own business (so this total fluctuates, but I've been at roughly 100k past three years) and $30,000 from a part-time job. He saves ten percent of his salary in a 401k...
by cherijoh
Mon Oct 13, 2014 9:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Bought a house, now time to think about retirement (help)
Replies: 27
Views: 1900

Re: Reverse Mortgages

bhsince87 wrote:Good question. I'm curious as well.

I understand the fees can be high, but I wonder if it could be a reasonable alternative to taking Social Security earlier.


No way! See the article here for some reverse mortgage pitfalls.
by cherijoh
Mon Oct 13, 2014 8:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages
Replies: 21
Views: 2067

Re: Is semi-retirement a bad idea?

Personally, I find it unimaginable that the OP would be able to "downgrade" from $290K to $80K. Look at a typical cost of living calculator here . Other than housing costs, I doubt the main expense components (e.g., groceries, utilities, transportation, and healthcare) will fall more than...
by cherijoh
Mon Oct 13, 2014 7:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Is semi-retirement a bad idea?
Replies: 106
Views: 7120

Re: Is semi-retirement a bad idea?

Personally, I find it unimaginable that the OP would be able to "downgrade" from $290K to $80K. Look at a typical cost of living calculator here . Other than housing costs, I doubt the main expense components (e.g., groceries, utilities, transportation, and healthcare) will fall more than...
by cherijoh
Sun Oct 12, 2014 7:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is semi-retirement a bad idea?
Replies: 106
Views: 7120

Re: Credit Card Issue

I have had the fraud department call me regarding potentially fraudulent charges - last time they wanted to know if I had purchased an X-box and a bunch of video games from an online store. I think they picked that up based on behavioral algorithms - the amount was relatively small but WAY outside o...
by cherijoh
Sun Oct 12, 2014 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Card Issue
Replies: 26
Views: 1835

Re: Thoughts on getting out

All, I'd appreciate hearing from you on the following. I am unsure if I'm looking for you to reinforce my plan of shoot holes in it. Both are welcome. At 59, I absolutely hate my job. I am fraught with anxiety and dread ( most of this is in my own mind but psychological counseling has had only mini...
by cherijoh
Sun Oct 12, 2014 5:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Thoughts on getting out [of job]
Replies: 37
Views: 4977

Re: Is semi-retirement a bad idea?

A few responses in here are pretty insulting; I'd argue there's very little correlation between monetary compensation and career happiness after a certain point. In fact, for certain professions it probably becomes inversely proportional. Similarly, 80K (especially in a low cost of living area) is ...
by cherijoh
Sun Oct 12, 2014 4:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is semi-retirement a bad idea?
Replies: 106
Views: 7120

Re: Is semi-retirement a bad idea?

I'm 32 and married with 1 child. 250k in investments. 290k/year combined income. Living in high COL high tax area. If I bought a house here it'd cost around 1.25M. The same house in my preferred semi-retirement location would be around 500k. In 2-3 years we'll have enough to buy that 500k house in ...
by cherijoh
Sun Oct 12, 2014 3:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is semi-retirement a bad idea?
Replies: 106
Views: 7120

Re: Problem with 401K rollover

While unfortunate for the employee that forfeited matches, forfeitures are often allocated to the accounts of other employees. This is one of the reasons that employers that offer after tax sub accounts limit the contributions so that forfeitures added to the account will not end up with the total ...
by cherijoh
Sun Oct 12, 2014 2:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Problem with 401K rollover
Replies: 20
Views: 923

Re: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rat

A 3.5% mortgage equates to about 2.8% in the 25% tax bracket. If and only if 100% of your mortgage interest is deductible, and above the standard deduction. For most people, this is not true. I think you should modify that to "most people filing MFJ ". For a single person owning a home, i...
by cherijoh
Sun Oct 12, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rates
Replies: 77
Views: 8845

Re: Draw down taxable saving first?

This recent Morningstar article may help. It was part of a series of articles this week on retirement. For retirees tapping their assets... Regards, Bustoff That article in interesting, but it keeps saying that there is some sort of problem with withdrawing from taxable because it's typically in mo...
by cherijoh
Sun Oct 12, 2014 9:07 am
 
Forum: Investing - Theory, News & General
Topic: Draw down taxable saving first?
Replies: 38
Views: 2439

Re: Pension Lump Sum Offer

Received a letter from a company I have a defined pension guaranteed benefit amount payable at age 60. The offer was basically saying I have the opportunity to participate in a one time special lump sum and or a monthly benefit offer payable now. Not hearing back for 2 months I called and they said...
by cherijoh
Sat Oct 11, 2014 7:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension Lump Sum Offer
Replies: 2
Views: 577

Re: Pension lump sum payout [and help with portfolio]

Emergency funds: Yes Debt: 20 year primary home mortgage, $200k left, paying extra $225/month to payoff early; $10,500 in Federal Stafford loan @ 1.375%, paying minimum $200/month Tax Filing Status: Married Filing Jointly Tax Rate: 25% Federal, 5.8% State State of Residence: NC Age: 36 (male) Desir...
by cherijoh
Sat Oct 11, 2014 3:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Pension lump sum payout [and help with portfolio]
Replies: 17
Views: 697

Re: When people put all their eggs in the wrong basket

I have become a dedicated boglehead in the past couple of years. However I have one particular stock that I bought before my index funds and it is up 300% in a year. It appreciated to 40% of my investments and theres a ton of excitement around it. Originally I had planned to sell it a few months ag...
by cherijoh
Sat Oct 11, 2014 11:00 am
 
Forum: Investing - Theory, News & General
Topic: When people put all their eggs in the wrong basket
Replies: 227
Views: 23015

Re: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rat

Buffett is right. Relatedly, people making extra payments on their 3.5 percent mortgages are making a terrible decision I'm one of those, except my rate is 3.375% fixed (30 yr). I'm paying about $1000 extra per month on a loan that's currently about $385k balance. This will pay it up in about 15 ye...
by cherijoh
Sat Oct 11, 2014 10:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rates
Replies: 77
Views: 8845

Re: Threshold for [Resetting Roth Conversion]

There is no such penalty because a recharacterization must be done by transfer and is never a distribution. I think he might have been confusing this with a return of an excess contribution, which IS a distribution and then the earnings are taxable and subject to penalty. You are correct - that is ...
by cherijoh
Sat Oct 11, 2014 9:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Threshold for [Resetting Roth Conversion]
Replies: 16
Views: 1254

Re: Threshold for Recharacterization

: Consider this case: I converted $9000 from a Traditional IRA to a Roth IRA. Both before and after the conversion, it was invested in fund XYZ, NAV of $10/share. The conversion results in a Roth IRA with 900 shares of XYZ. Ten days later, XYZ has dropped to $9/share. I have the option of convertin...
by cherijoh
Fri Oct 10, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Threshold for [Resetting Roth Conversion]
Replies: 16
Views: 1254
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