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Re: Mortgage Debt in Retirement?

There is nothing "special" about mortgage debt, except its tax treatment. It's debt like any other debt. Th risk is that people hang on to more house than they can afford. Subtract the debt from your portfolio and compare your portfolio to your house value. Add to your portfolio the capit...
by cherijoh
Sun Mar 29, 2015 9:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Debt in Retirement?
Replies: 74
Views: 4755

Re: Boomer forced to retire (unemployed)

One rule of thumb that I've heard is that it takes an average of approximately one month to get a job for every $10,000 of salary. So, if he's looking for an $80,000 a year job, that should take an average of approximately 8 months. I admit that it's an odd rule of thumb, but the point of my mentio...
by cherijoh
Sun Mar 29, 2015 8:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Boomer forced to retire (unemployed)
Replies: 34
Views: 3925

Re: Can I afford a $1M house?

I am only 10 years into my career and my income has increased quickly. I know it is very profession- and industry-specific, but it is cheaper for companies to increase the salaries of new employees at the expense of more established employees. (I think employers want to discourage too much turnover...
by cherijoh
Sat Mar 28, 2015 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1M house?
Replies: 65
Views: 6074

Re: Can I afford a $1M house?

Wow, change of tone. Thanks all for the input. I definitely don't agree that a $600K house is my limit. I live in a $600K house now and my PITI payment is 12% of my salary. I save a few thousand every month outside of retirement, not even counting my bonus. Sure, that is all great and I can save a ...
by cherijoh
Fri Mar 27, 2015 8:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1M house?
Replies: 65
Views: 6074

Re: Can I afford a $1M house?

I have a stable job with $200K salary. I also get a regular bonus in the mid-five figures but would like to leave that out of this thinking (ie. not depend on it). I expect my compensation to continue to grow. Our current house has $200K equity (after sales commission, at a conservative price). In ...
by cherijoh
Fri Mar 27, 2015 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1M house?
Replies: 65
Views: 6074

Re: 401k Record Keeping Fee

401kFiduciary wrote:Earlier this year I ran an RFP for a $200-300mm 401k plan where Vanguard bid for RK services.


Can you give us this without the jargon?
by cherijoh
Thu Mar 26, 2015 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k Record Keeping Fee
Replies: 57
Views: 3593

Re: Improving English Language Proficiency- Please suggest B

Thank you for all the great suggestions! Epsilon delta - I love to read, and in fact, my English is as good as it is, mostly because of reading (read quite a few books by Sidney Sheldon while in college). The reason, why I also wanted a grammar book is there are times when I have to think about rul...
by cherijoh
Thu Mar 26, 2015 8:27 pm
 
Forum: Personal Consumer Issues
Topic: Improving English Language Proficiency- Please suggest Books
Replies: 51
Views: 3066

Re: My evil plan backfired

I like the ideas of opening up the Kraft money to do as he pleases. It doesn't amount to much and is more of a bonus that I never expected to have. Good idea! +1 We have a good sized taxable fund which is 70% individual stocks that DH inherited and about 30% bond funds. The account is in both of ou...
by cherijoh
Thu Mar 26, 2015 8:10 pm
 
Forum: Investing - Theory, News & General
Topic: My evil plan backfired
Replies: 53
Views: 6714

Re: Roth IRA to Roth IRA transfer

Hi Bogleheads :) I want to transfer funds from my Vanguard Roth IRA to my new TIAA-CREF Roth IRA to meet David Swensen's portfolio recommendations. I'm investing in the Real Estate Account. TIAA's choices are: 1. trustee-to-trustee transfer 2. liquidate assets oneself and then contribute to TIAA I'...
by cherijoh
Tue Mar 24, 2015 6:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Roth IRA to Roth IRA transfer
Replies: 3
Views: 406

Re: 15 vs 30 yr mortgage

Hey everyone. I'm building a new home and shopping around for mortgages. I'm looking for some feedback on the question of 15 yr vs 30 yr loan terms. Assume I can comfortably afford the 15 yr monthly loan payment. What I am seeking to understand is with interest rates at near all time lows, does it ...
by cherijoh
Sun Mar 22, 2015 4:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: 15 vs 30 yr mortgage
Replies: 80
Views: 5966

Re: Odd issue with USPS change of address

OP here. So after further research and some assists from you guys, I believe that USPS notifies periodical publishers of changes of address. Why my particular address got mangled is still a mystery, but I've got to think somebody just fat-fingered something at the magazine. On a somewhat-related no...
by cherijoh
Sun Mar 22, 2015 4:28 pm
 
Forum: Personal Consumer Issues
Topic: Odd issue with USPS change of address
Replies: 12
Views: 1351

Re: Buying a house that had a Dog

Cats are worse than dogs. When we bought our second house we had to remove all carpets and padding, pull up and replace all the tack strips along the walls, and soak the plywood subfloor with a bleach-based cleaner. It was a mess. The previous owners had cats and they had covered up the odor with d...
by cherijoh
Sun Mar 22, 2015 4:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house that had a Dog
Replies: 18
Views: 2559

Re: Do all cost-basis calcs yield the same total capital gai

As UncleBen pointed out, the cost basis will be the same.

If you think you will ever want to do any tax-loss harvesting in the future, you will want to use specific lot identification (I'm not sure if that is precisely what it is called, but you know what I mean).
by cherijoh
Sun Mar 22, 2015 3:52 pm
 
Forum: Investing - Theory, News & General
Topic: Do all cost-basis calcs yield the same total capital gains
Replies: 5
Views: 445

Re: refinance or pay down mortgage?

Currently I have about 7 years remaining on a 95k residential loan (10 year loan on 150k), charged at 4.5% fixed. I haven't look completely into it yet, but I would figure a 10-year loan (not sure if there's 7 year loans) right now would be in the ~3% rate. The other option is I can just try to pay...
by cherijoh
Sun Mar 22, 2015 3:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: refinance or pay down mortgage?
Replies: 14
Views: 1480

Re: Backdoor Roth IRA Considerations

For 2015, I expect my AGI to be right at about 180k. It could be higher or lower by as much as 10k-15k. This is the cutoff for roth ira contributions. I like to contribute as early as I can, but am realizing I may need to make my contributions through the back door. Is the best option here to just ...
by cherijoh
Sun Mar 22, 2015 3:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Considerations
Replies: 9
Views: 645

Re: Tax implications on cashing out a Lump Sum Pension?

* A former employer is making my vested pension available to me later this year. Its only $55K. Since its a pension, it is "free money" to me. I see from a later post that you have decided to roll it over into an IRA - that is absolutely the right decision. But I want to disabuse you (and...
by cherijoh
Sun Mar 22, 2015 2:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax implications on cashing out a Lump Sum Pension?
Replies: 7
Views: 489

Re: Dilemma re: taxable account

I am retired so will need to be living off the money I have in my taxable account for the next four years. I have a years worth of funds put away for emergency purposes. When I spoke to a financial advisor he suggested I fully invest the remainder in stock mutual funds and sell them off as I need t...
by cherijoh
Sun Mar 22, 2015 8:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Dilemma re: taxable account
Replies: 18
Views: 1663

Re: Some guidance/recommended reading for my retired parents

What about the Boglehead's Guide to Retirement Planning? I think it is appropriate even if your parents are retired.
by cherijoh
Sat Mar 21, 2015 5:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Some guidance/recommended reading for my retired parents
Replies: 3
Views: 406

Re: What Age Did You First Ponder Financial Independence?

Another thumbs up for Monopoly. I remember playing that game at a very young age and realizing I could buy something once and someone else would pay me many times for it. That thought process for real estate transformed into similar thinking towards compounding interest. Magical stuff when you real...
by cherijoh
Sat Mar 21, 2015 5:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Age Did You First Ponder Financial Independence?
Replies: 74
Views: 6818

Re: Edward Jones Account Closing Fees

When I emailed the complaints department, I got this back: "We received your email dated March 19,2015 regarding your Edward Jones account." Since I am complaining about activity on 6 different accounts with them, should they not have said "regarding your Edward Jones accounts"?...
by cherijoh
Sat Mar 21, 2015 1:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Edward Jones Account Closing Fees
Replies: 90
Views: 6930

Re: Edward Jones Account Closing Fees

I am most annoyed that EJ knowlingly phrases their account closure sentence to be ambiguous and misleading - and that the financial advisor refused to combine the accounts I wanted her to combine or convert or rollover (it doesn't matter the term, just the end result) because I was planning on movi...
by cherijoh
Sat Mar 21, 2015 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Edward Jones Account Closing Fees
Replies: 90
Views: 6930

Re: which funds to keep - moving from EJ to Vanguard

First, thank you so much for all of your replies. To answer all of your questions - I am moving because of the high costs of the advisory account. The termination fee is $190 . Some of the funds i am questioning liquidation of are ARTKX, OIGYX, DEUIX, DODGX, AEGFX, MDISX, MEIIX, MGOYX - because the...
by cherijoh
Sat Mar 21, 2015 9:18 am
 
Forum: Investing - Help with Personal Investments
Topic: which funds to keep - moving from EJ to Vanguard
Replies: 13
Views: 878

Re: Restaurant tipping

Let's say you are eating at a good restaurant, what do you normally leave as a tip? Last night we had dinner out and the service was only so-so.....slow, got my dinner before my wife, no refill of water glasses, etc. Not awful but not great. I left 15% but wanted to leave less. My wife believes the...
by cherijoh
Sat Mar 21, 2015 8:50 am
 
Forum: Personal Consumer Issues
Topic: Restaurant tipping
Replies: 200
Views: 11735

Re: Lowest income at which able to Max 401k and IRA

Thanks for all the advice and I think more importantly how ppl are doing so much at different points in their lives and at different income levels. I am looking more carefully at my expenses, planning to cut back and thinking about downsizing still debating the Roth 401K. The reason for the Roth 40...
by cherijoh
Sat Mar 21, 2015 8:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Lowest income at which able to Max 401k and IRA
Replies: 31
Views: 2624

Re: Lowest income at which able to Max 401k and IRA

It seems that 401K Max and IRA Max is given in these parts. At 125K income (single until maybe next year), with 2K per month mortgage and $700 per month car payments, I am really living paycheck to paycheck when I max Roth 401K, Roth IRA, and HSA with no taxable investing. I am really burnt out at ...
by cherijoh
Sat Mar 21, 2015 8:15 am
 
Forum: Investing - Help with Personal Investments
Topic: Lowest income at which able to Max 401k and IRA
Replies: 31
Views: 2624

Re: Car Accident in Front Yard

Last Thanksgiving I had a similar incident, but the wreck occurred in my yard. One of the neighbor's kids "looked down momentarily" and went full speed through one fence/gate, across the yard (gf was letting the dog out and literally jumped out of the way of the car and the dog ran back i...
by cherijoh
Fri Mar 20, 2015 5:14 pm
 
Forum: Personal Consumer Issues
Topic: Car Accident in Front Yard
Replies: 34
Views: 3062

Re: how much mortgage would you be comfortable with?

I'm relatively new to reading this forum -- 1st post. I was hoping some of the savvy folks here could weigh in on the issue of mortgage amount in relation to income, as my wife and I have been going over it for a few months. Background: My wife and I are both young doctors, 2-3 years past residency...
by cherijoh
Wed Mar 18, 2015 5:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: how much mortgage would you be comfortable with?
Replies: 43
Views: 4289

Re: One Level or Two Level House

As I age, I'm looking to build a house that will work as I get older. Two options 1. Two story house: Living, dining, Kitchen, Master bed & bath and office area on main entrance level, with 2 guest rooms and a guest bath on the upper level 2. One story house: Everything on one level I'm leaning...
by cherijoh
Tue Mar 17, 2015 10:34 pm
 
Forum: Personal Consumer Issues
Topic: One Level or Two Level House
Replies: 68
Views: 5634

Re: How Much To Negotiate Realtor Commission

Get other bids. When I sold my house, 2 years ago, I interviewed 3 agents. First one quoted 6%, later came back at 5%, second one quoted 4.5%, and 3rd was 4%. I asked 3rd to match the second. She did and got the job. It was easy money for the realtor, IMO. Rate is very negotiable in a good market a...
by cherijoh
Tue Mar 17, 2015 10:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: How Much To Negotiate Realtor Commission
Replies: 31
Views: 2728

Re: Pre-retirement question

papiper>>>So your saying take the vacation in pay instead of using and getting paid for those two month's plus getting the benefits? Here is another thought. I may ask them if they would put my total vacation pay in my 401. I wonder if they would or if they can. I would just max it out in one shot ...
by cherijoh
Sun Mar 15, 2015 9:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Pre-retirement question [Take vacation time or pay?]
Replies: 23
Views: 2622

Re: Providing hotel options for wedding guests

My wife and I coordinated a hotel group rate for our wedding last year, and it was fairly easy. We were fortunate that we had four hotel options within one mile of our wedding venue, and we also live in the area so it was easy for us to meet with the hotels in person while shopping around. All the ...
by cherijoh
Sun Mar 15, 2015 8:39 am
 
Forum: Personal Consumer Issues
Topic: Providing hotel options for wedding guests
Replies: 9
Views: 1045

Re: 401K leaving employer

Why then, besides creditor protection, would one not roll to an IRA? To be eligible for a backdoor Roth IRA contribution is about the only reason I can think of besides creditor protection. FWIW, I just did my 9th 401k rollover. I now reflexivity rollover my 401k as soon as I leave an employer. I'm...
by cherijoh
Sun Mar 15, 2015 8:22 am
 
Forum: Personal Finance (Not Investing)
Topic: 401K leaving employer
Replies: 25
Views: 1871

Re: 401K leaving employer

If you separate from service in or after the year that you reach age 55, you are permitted to withdraw from the 401k without early withdrawal penalty. See this IRS list of exceptions to the early withdrawal penalty: http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics---...
by cherijoh
Sun Mar 15, 2015 8:20 am
 
Forum: Personal Finance (Not Investing)
Topic: 401K leaving employer
Replies: 25
Views: 1871

Re: Gaming amazon product reviews

Are you sure that it is the seller soliciting feedback and not a robo-request from Amazon? I get these same requests even when it is Amazon fulfilling the sale (not a vendor). I also get something similar from LinkedIn when I don't reply to a "Join my network" request within 48- or 72-hour...
by cherijoh
Sun Mar 15, 2015 7:27 am
 
Forum: Personal Consumer Issues
Topic: Gaming amazon product reviews
Replies: 16
Views: 2172

Re: Advice needed (work/bonus/career advice)

However, I don't believe there is any reasonable way you can 'force' the company to pay you the bonus if you leave before the due date. The reason I wonder if I can- is because I have a PDF they gave me detailing the payout of my bonus. It says the next payment will be made on May 1st, and nowhere ...
by cherijoh
Sat Mar 14, 2015 9:50 pm
 
Forum: Personal Consumer Issues
Topic: Advice needed (work/bonus/career advice)
Replies: 38
Views: 1569

Re: Rental Property

How far away is the beach? I live about 3.5 - 4.5 hours (depending on which beach) and I'd say owning was a good decision for about 25% of my friends with a beach property. The rest would probably concur with ww340's opinion. Personally, I think the sweet spot for a second home is less than 150 mile...
by cherijoh
Sat Mar 14, 2015 8:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental Property
Replies: 22
Views: 1765

Re: IRA Question Involving 60something Couple

As a sole spousal beneficiary, his wife can maintain his IRA in inherited status and does not have to take an RMD as beneficiary until the year the deceased spouse would have reached 70.5. When that year arrives, she should assume ownership as her own IRA because her RMD in that year as owner will ...
by cherijoh
Sat Mar 14, 2015 7:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA Question Involving 60something Couple
Replies: 9
Views: 868

Re: Protect rollover IRA from potential lawsuit

If you have a good current 401k acct, could you not rollover these? If not consolidate all in one of the better 401 k? Added benefit of opening up space for any backdoor roths. Employers are not required to allow you to roll your previous employer contributions into you current 401k, so that will v...
by cherijoh
Sat Mar 14, 2015 7:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Protect rollover IRA from potential lawsuit
Replies: 41
Views: 4107

Re: Why Isn't Pension Distribution Taxable? (1099-R, Code G)

I would fill out my taxes with the $700 as taxable and attach a note stating the circumstances and that you requested a revised 1099-R but have not received one. I attached a note when I over-contributed to a Roth IRA and had to recharacterize it without having the correct 1099 which would be issued...
by cherijoh
Sat Mar 14, 2015 7:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Why Isn't Pension Distribution Taxable? (1099-R, Code G)`
Replies: 31
Views: 3464

Re: Help! 401k Refund for Highly Compensated Employee

I would push senior management to correct whatever is making your plan appear to be not entirely Safe-Harbor compliant. It's my understanding that certain things like not paying the pro-rated amount of departing employees' 401k matched amounts is non-compliant. Additionally, seek the reasons why ot...
by cherijoh
Sat Mar 14, 2015 7:15 am
 
Forum: Investing - Help with Personal Investments
Topic: Help! 401k Refund for Highly Compensated Employee
Replies: 32
Views: 2298

Re: How much house can we afford by Boglehead standards?

Sorry to put a damper on this discussion, but there is no way to know how much house you can afford (in terms of the price) two years before the purchase. Housing affordability is based on PITI (principal, interest, taxes, and insurance) relative to your take-home pay and you don't know what the pre...
by cherijoh
Fri Mar 13, 2015 8:07 am
 
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford by Boglehead standards?
Replies: 31
Views: 4562

Re: Help! 401k Refund for Highly Compensated Employee

I guess your plan doesn't allow for after-tax contributions. I'm pretty sure that an after-tax contribution would not count toward the HCE limits.

Can you do a back-door ROTH by making an after-tax IRA contribution and then converting it to a Roth IRA?
by cherijoh
Fri Mar 13, 2015 7:24 am
 
Forum: Investing - Help with Personal Investments
Topic: Help! 401k Refund for Highly Compensated Employee
Replies: 32
Views: 2298

Re: Bonus received. But its not what was agreed upon. Advi

In this situation, if I'm your manager, I can't help but add it to your file, where it will not help your cause. I guess I'm "hiding" it if it's verbal, but not for my benefit, for yours. Oh no, not "the file" (is that like a folder in outlook now?). This whole "you should ...
by cherijoh
Thu Mar 12, 2015 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bonus received. But its not what was agreed upon. Advice?
Replies: 61
Views: 5076

Re: Edward Jones - Ripped off Advice

Here's the script: While reorganizing my financial papers I realized that I had not retained copies of statements received while I had my account with your firm. Now that my account is closed I no longer have access to download copies. I am requesting that you provide me with copies of <quarterly/a...
by cherijoh
Wed Mar 11, 2015 6:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Edward Jones - Ripped off Advice
Replies: 20
Views: 1540

Re: Help ESCAPE from FA; details provided

Vanguard should be able to hold the iShares ETF in a brokerage account so that you can transfer them in kind. Switching funds within an IRA has no tax consequences so moving the IRA shouldn't be an issue either. But I don't think you can get DFA funds without an advisor, so you may need to the trans...
by cherijoh
Tue Mar 10, 2015 11:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help ESCAPE from FA; details provided
Replies: 17
Views: 1405

Re: At what point is it too much house? How much do we need

I'm an advocate for right sizing your home. 1000 Sq.ft. /adult plus 500 sq.ft/child is a good rule of thumb to try on. The floor plan can allow greater or lesser efficiency -- I personally like 1500 sq.ft. plus a storage space (basement or off-site) of 500 sq.ft. for two adults. As others mentioned...
by cherijoh
Tue Mar 10, 2015 8:12 am
 
Forum: Personal Finance (Not Investing)
Topic: At what point is it too much house? How much do we need?
Replies: 52
Views: 4658

Re: The salary you must earn to buy a home: $48,603.82

Interesting article today at HSH: http://www.hsh.com/finance/mortgage/salary-home-buying-25-cities.html They compare different cities, and of course some cities require more than others. You would need to make $142k in San Francisco, whereas you could get along fine in Pittsburgh for just $31k. Wha...
by cherijoh
Tue Mar 10, 2015 6:47 am
 
Forum: Personal Finance (Not Investing)
Topic: The salary you must earn to buy a home: $48,603.82
Replies: 24
Views: 3005

Re: Not sure what to do or ready?

ieee488 wrote:
mule wrote:I have 3 million in stock funds 75% and the rest in money market/CD. I owe no one anything and I'm 58 years old. My net worth is 500k more.


I am confused. $3M or $500K?


I read this to mean OP had $3M in liquid assets plus an additional 500K in non-liquid assets like home equity.
by cherijoh
Sun Mar 08, 2015 6:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do or ready? [Preparing for retirement]
Replies: 17
Views: 1715

Re: Pension vs. Lump

You didn't mention whether or not your pension has a COLA, but since most don't I will assume no COLA. But either way, IMO you don't have to decide whether lump sum or pension gives you a better chance of not outliving your money. You have sufficient assets either way. The question is which one will...
by cherijoh
Sun Mar 08, 2015 6:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pension vs. Lump
Replies: 58
Views: 3109

Re: Wife tired of saving...

As to the BMW, I want to clarify that its not FOR her....its for US. We can easily afford it, and we should. 20K and a lot more is sitting in the bank earning 0% (according to her). All our friends have it and say its an amazing drive and she kinda fell into that trap. Buying the BMW honestly not g...
by cherijoh
Sun Mar 08, 2015 12:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife tired of saving...
Replies: 203
Views: 19240
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