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Re: So am I a terrible father? [inheritance question]

I'm 62, just retired, with a low-seven figure TIRA, considering converting about $30,000/year for the next 8 years (15% marginal tax bracket) before I start taking SS and pension at 70, and before RMD starts at 70 1/2. My question: we would be leaving bulk of the TIRA to daughter, who is in a low-p...
by cherijoh
Tue Aug 19, 2014 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: So am I a terrible father? [inheritance question]
Replies: 30
Views: 3698

Re: Savings Percentage [rules of thumb]

Instead of trying to compare yourself to others with respect to savings rate, I would suggest using year-over-year (YoY) increase in your own personal savings rate as a metric. I have always tried to: 1) maintain an adequate emergency fund and set up separate accounts to fund large irregular expense...
by cherijoh
Mon Aug 18, 2014 9:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage [rules of thumb]
Replies: 49
Views: 4900

Re: Advice to move from Wells Fargo advisor

My mind is reeling with doubts about how I have handled the relationship with my "advisor". I feel like I am considering a break up with a girlfriend. I am upset with myself for not looking into what terminating the relationship will cost.. from reading, it looks like: a) he will say anyt...
by cherijoh
Mon Aug 18, 2014 9:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice to move from Wells Fargo advisor
Replies: 20
Views: 1536

Re: Rebalance + stay the course ... or dial it down on stock

Emergency fund: Four months of expenses in MMF (although could also access non-IRA investing account w/current value of about 14 months of expenses) Debt: Home mortgage only; 15-year at 4.25 with 11 years to go Tax Filing Status: Married Filing Jointly Tax Rate: 25% Federal, no state tax (Texas) Ag...
by cherijoh
Mon Aug 18, 2014 7:19 am
 
Forum: Investing - Help with Personal Investments
Topic: Rebalance + stay the course ... or dial it down on stocks
Replies: 10
Views: 1847

Re: Online property tax payment lost

Do you happen to use Bank of America? I ask this because they do have that odd default policy of debiting the check amount right away (and refunding it about 90 days later if not cashed, or something like that). --> There is a non-default way one can request so the check amount is debited only AFTE...
by cherijoh
Mon Aug 18, 2014 6:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Online property tax payment lost
Replies: 23
Views: 1354

Re: When Can I Retire?

Is this all in a taxable accounts or is some of it tax-advantaged? That does make a difference.

With that much money sitting in a money market, pay off your mortgage and car loan. Why did you take out a car loan in the first place?
by cherijoh
Sun Aug 17, 2014 11:38 am
 
Forum: Investing - Help with Personal Investments
Topic: When Can I Retire?
Replies: 5
Views: 807

Re: Receiving Spam Emails Since Joining

I just got messages from friends which did not seem to send it to me. One Email had my Email account as sender. I ran Webroot and Malwarebytes right after and Webroot found two new threats which got removed. It is important to always be careful and suspicious. I no longer click to any videos and li...
by cherijoh
Sun Aug 17, 2014 11:33 am
 
Forum: Forum Issues and Administration
Topic: Receiving Spam Emails Since Joining
Replies: 9
Views: 710

Re: Windfall and fiduciary recommendations

This has been enlightening I have read through some old posts form high net worth folks and it seems the only thing I may want to do is consider VWIUX as a replacement for VBTLX in my taxable account, maybe VAIPX... and call it a day. The more I read the more my gut tells me they just want their fe...
by cherijoh
Sun Aug 17, 2014 11:27 am
 
Forum: Investing - Help with Personal Investments
Topic: Windfall and fiduciary recommendations
Replies: 18
Views: 1459

Re: Mortgage or pay cash

I am posting on behalf of my son and his wife... They are mid-30's, currently without offspring, and looking to purchase a first house. They are both tenure track professors and thus guaranteed employment at least the next three or four years, likely longer. Their lifestyle is modest. Combined inco...
by cherijoh
Sun Aug 17, 2014 8:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage or pay cash
Replies: 9
Views: 1121

Re: Help a late starter (38) newbie

As way of background, I have no consumer debt and have an emergency fund set up. I contribute the max in the retirement plan with my employer. As I am not a U.S. citizen, I am not eligible to participate in Roth IRA. While I have no saved up cash with which to begin investing, I can put about $1,00...
by cherijoh
Sun Aug 17, 2014 8:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Help a late starter (38) newbie
Replies: 5
Views: 734

Re: Getting Married, traveling abroad

PS Scotland is not a country. Actually I believe it is a country - just not an independent one. From Wikipedia (I added the bold and color): The relationships among the countries of the United Kingdom have changed many times. The Principality of Wales was incorporated into the Kingdom of England in...
by cherijoh
Sat Aug 16, 2014 10:49 am
 
Forum: Personal Consumer Issues
Topic: Getting Married, traveling abroad
Replies: 25
Views: 1331

Re: Monthly Contributions - Asset Allocation

After getting some good advice here, we're finally ready to have an asset allocation plan. I was doing something before, but it wasn't thought out. Going to break up the Target Retirement 2045, which will allow us to convert to Admiral shares of TSM. Looking to have the AA of Rick Ferri's Core Four...
by cherijoh
Sat Aug 16, 2014 10:04 am
 
Forum: Investing - Help with Personal Investments
Topic: Monthly Contributions - Asset Allocation
Replies: 10
Views: 670

Re: Getting Married, traveling abroad

[...]If you stay at one of the big American hotel chains you will miss a lot of the reason that you went to Europe.[...] Could you please elaborate on this? How would staying in an American hotel chain defeat the purpose of touring? Also, are these American hotels more expensive or less expensive t...
by cherijoh
Sat Aug 16, 2014 8:35 am
 
Forum: Personal Consumer Issues
Topic: Getting Married, traveling abroad
Replies: 25
Views: 1331

Re: Should I Invest in both T-IRA & R-IRA?

I am 37 years old and max-out my Roth TSP each year and we also work hard to max our VG 2040 Roth IRAs. So given I have no clue what my tax bracket will be in retirement, is it worth it to be invested in both T-IRA and R-IRA? Maybe like a 50/50 split? I am currently in 25% fed bracket, but would pr...
by cherijoh
Fri Aug 15, 2014 8:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I Invest in both T-IRA & R-IRA?
Replies: 34
Views: 1223

Re: Need Advice RE Investment Advisor...or not

Should I: (1.) Give these retirement assets to an Investment Advisor, such as Evanson Asset Management or Portfolio Solutions (the two I have been considering), and just let them develop the best recommended allocations (taking advantage of DFA funds, etc.) and perform the rebalancing function for ...
by cherijoh
Fri Aug 15, 2014 6:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Advice RE Investment Advisor...or not
Replies: 10
Views: 705

Re: Vanguard: "Social Security: How to decide when it's time

Another strong reason to maximize your Social Security income is simply because SS is taxed much more favorably than other income like pensions or IRA withdrawals. For example, single filing twins with the same gross income of $65k. Twin "A" took SS early in order to grow his IRA, so at a...
by cherijoh
Wed Aug 13, 2014 8:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard:"Social Security: How to decide when it's time."
Replies: 79
Views: 5349

Re: Can't decide to keep 401k with previous employer or move

I didn't realize this earlier, but the Extended Market fund is not a TSM like I had assumed - instead it is TSM minus S&P 500 stocks. So even in the new employer account I will need to do some wiggling to simulate a TSM fund. Vanguard Institutional index Large Cap is equivalent to S&P 500. ...
by cherijoh
Wed Aug 13, 2014 8:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Can't decide to keep 401k with previous employer or move
Replies: 48
Views: 4418

Re: Reminder: Check your 401K contribution rates

I researched this when I started working for the current employer. It turns out it intentionally made it such that when my contribution stops after hitting the limit, the match stops. Now the tricky part is to determine the contribution amount to get $17500 in the last pay period with sufficient am...
by cherijoh
Tue Aug 12, 2014 9:49 pm
 
Forum: Investing - Theory, News & General
Topic: Reminder: Check your 401K contribution rates
Replies: 27
Views: 3543

Re: Pension floor drops from 4% to 2.5% -- Time to bail?

This is a large company corporate pension, current value $20,000, fully vested. The pension has had a 4% floor for many years. I treated this as a "nearly risk free" rate, counted it as a bond for AA, and was happy. Is this change enough that I should roll it over to a 401(k)? The floor i...
by cherijoh
Tue Aug 12, 2014 7:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Pension floor drops from 4% to 2.5% -- Time to bail?
Replies: 17
Views: 2726

Re: Help with massive debt repayment

I'll cut across the grain here a bit. At those interest rates, I personally wouldn't be in a hurry to pay off ANY of those loans. I'd invest the extra in a Roth IRA (or non-deductible if your income is too high), I-Bonds, etc., and just keep making minimums on those loans. There is plenty of time t...
by cherijoh
Mon Aug 11, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with massive debt repayment
Replies: 27
Views: 2564

Re: Where to buy little plastic bottles?

If you don't find them in the section with the travel size toothpaste, check Target/Walmart where they have luggage. I can personally recommend a product called GoToob. They are not cheap, but they work well for shampoo, lotion, sunscreen, etc. that you would want to squeeze out. They have wide mout...
by cherijoh
Mon Aug 11, 2014 8:10 am
 
Forum: Personal Consumer Issues
Topic: Where to buy little plastic bottles?
Replies: 24
Views: 1597

Re: That sudden moment when Money is not a Problem.........

This thread reminds me that my 59-year-old husband (in apparently vibrant health, and having meticulously cared for himself via lifestyle and regular physician visits due to family history) and I were planning a dream trip to Finland for last summer. We were having so much fun planning it. Sadly an...
by cherijoh
Sun Aug 10, 2014 10:16 am
 
Forum: Personal Finance (Not Investing)
Topic: That sudden moment when Money is not a Problem
Replies: 33
Views: 6645

Re: Fear of Disclosing Net Worth

I would suspect "they" already know. If you spend time on the computer or buy with plastic, there is loads of data on your spending habits, your leisure time habits, etc. etc. etc. THEY KNOW ALREADY. I would not worry about it if you feel the need for financial advice. I don't agree with ...
by cherijoh
Sun Aug 10, 2014 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Fear of Disclosing Net Worth
Replies: 60
Views: 7997

Re: Carry on Luggage Restrictions

Could I take a large backpack and another bag that I could fit under the seat in front of me? For US domestic flights it's pretty consistent: 1 carry on (not to exceed 22" x 14" x 9 ") + 1 personal item (e.g. purse, bag, backpack, that has to fit under the seat in front) Specific air...
by cherijoh
Sun Aug 10, 2014 9:42 am
 
Forum: Personal Consumer Issues
Topic: Carry on Luggage Restrictions
Replies: 24
Views: 1591

Re: Considering a trip to Bali

I have visited Bali, but not recently - it has been more than 15 years. Most people stay at the beach resorts - see http://www.bali.com/accommodation.html . We stayed one night in either Nusa Dua or Kuta (I forget which) but spent the rest of our visit to Bali in Ubud. We visited the artisan market,...
by cherijoh
Sat Aug 09, 2014 8:03 am
 
Forum: Personal Consumer Issues
Topic: Considering a trip to Bali
Replies: 10
Views: 1311

Re: Drastic pay cut-Crack CD (w/penalty) to payoff mortgage?

I wouldn't pay off your mortgage early at all! What if you decide that the non-profit gig isn't working and you decide to relocate? You will have a huge amount of money sunk into a very illiquid asset. You are talking about depleting about 1/3 of your non-retirement portfolio to pay off the mortgage...
by cherijoh
Fri Aug 08, 2014 6:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Drastic pay cut-Crack CD (w/penalty) to payoff mortgage?
Replies: 26
Views: 1068

Re: Attitudes toward inheritances.

I have a friend who moved her elderly parents in with her family. She ferried them to numerous doctor's appointments and acted as primary caregiver 24/7. Because the parent's mobility issues, she and her husband had to spend money to modify their house. In the meantime, her deadbeat brother was liv...
by cherijoh
Wed Aug 06, 2014 7:07 pm
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 110
Views: 9233

Re: Attitudes toward inheritances.

I have a friend who moved her elderly parents in with her family. She ferried them to numerous doctor's appointments and acted as primary caregiver 24/7. Because the parent's mobility issues, she and her husband had to spend money to modify their house. In the meantime, her deadbeat brother was livi...
by cherijoh
Wed Aug 06, 2014 6:41 pm
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 110
Views: 9233

Re: Attitudes toward inheritances.

Awesome story, ResearchMed. :) My father's family had only one person with any money - his aunt in Florida. She had mentioned to my father more than a couple times that when the time came there would be about a million split between him and 4 others, so he knew to follow up with the executor. The a...
by cherijoh
Wed Aug 06, 2014 6:30 pm
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 110
Views: 9233

Re: Bank Asking me Questions

As I understood the original post, the web site is asking for this info before logging on to do routine on-line transactions. Nothing to do here with cash or in-person transactions. Looks like routine fishing for a chance to sell IRA's and brokerage services to me. (Maybe I missed something.) But i...
by cherijoh
Wed Aug 06, 2014 8:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Bank Asking me Questions
Replies: 13
Views: 2013

Re: Need Perspective and Advise

Run away from this guy/gal! 1) A "safe" withdrawal rate of 4% is often recommended. A 1% fee means you are giving up 25% of that to this advisor each and EVERY YEAR. Do you really want to do that? With 850K, you are eligible for Vanguard admiral shares of index funds. Total stock market ha...
by cherijoh
Wed Jul 30, 2014 7:23 am
 
Forum: Investing - Help with Personal Investments
Topic: Need Perspective and Advise
Replies: 21
Views: 1805

Re: Purchasing public pension benefits

Before making any decision, I would recommend reading the following article: http://seattletimes.com/html/businesstechnology/2020459442_pensiongapxml.html . If Wash State pension fund is as underfunded as the article suggests, this could be an effort to improve the funding level, but the OP's father...
by cherijoh
Tue Jul 29, 2014 7:05 am
 
Forum: Investing - Help with Personal Investments
Topic: Purchasing public pension benefits
Replies: 17
Views: 1314

Re: What amount of Earnest Money - New Pulte Home

"Earnest money" is meaningless unless you back out. If so (and thus not being "earnest"), you forfeit the deposit, often styled as "liquidated damages". The amount of "earnest money" can range from a few thousand dollars to "add some zeros". For a s...
by cherijoh
Tue Jul 29, 2014 6:19 am
 
Forum: Personal Finance (Not Investing)
Topic: What amount of Earnest Money - New Pulte Home
Replies: 35
Views: 1950

Re: "best" online booking service for hotel room?

Hotels are getting as bad as the airlines for having a wide range of prices. I usually check online then call the hotel directly and ask if they can do any better than a specified rate. I once asked if they could do better than the AAA rate I found on line. I was first quoted a pay-in-advance no-can...
by cherijoh
Mon Jul 28, 2014 7:25 am
 
Forum: Personal Consumer Issues
Topic: "best" online booking service for hotel room?
Replies: 27
Views: 2237

Re: DCA plan.. Help

bcjb wrote:I was intrigued by the $5 million, so I looked up your previous posts, and you mention a net worth in the mid-6 figures. If that's still true today, this $50k isn't a life-changing amount of money for you, so you might as well put it in all at once.


Isn't 5 million mid 7-figures?
by cherijoh
Sun Jul 27, 2014 8:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: DCA plan.. Help
Replies: 12
Views: 651

Re: Basically starting over

Do you have a 25 month or a 5 month emergency fund? You have both in your post. ' Current financial situation: Emergency funds: 25 months of expenses Part 1: I keep a 5 month emergency fund. Then I want to put $10,000 into I-Bonds as soon as possible. I would get 5 sets of $2,000 I-bonds. After a ye...
by cherijoh
Sun Jul 27, 2014 1:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Basically starting over
Replies: 17
Views: 3559

Re: Int'l Train Travel

Jazztonight's posts have planted a seed in my mind to do some travel by train. It sounds as if Amtrak is not a favorite. Not long ago, I travelled by rail from Rome to Florence and back to Rome and thoroughly enjoyed the trip, although the Rome train station was a bit creepy. Any other favorite tra...
by cherijoh
Sun Jul 27, 2014 9:25 am
 
Forum: Personal Consumer Issues
Topic: Int'l Train Travel
Replies: 28
Views: 1569

Re: Mileage Reimbursement or Company Car?

Hello All..I am the original owner of a 1997 Toyota Avalon with 254,000 miles. Love the car--it is showing its age and the AC is on its last leg but otherwise OK. I have been assigned to an out of town job approximately 250 miles away. I have the option of driving my vehicle (reimbursement $.45/mi)...
by cherijoh
Sat Jul 26, 2014 12:40 pm
 
Forum: Personal Consumer Issues
Topic: Mileage Reimbursement or Company Car?
Replies: 17
Views: 1012

Re: Does severance pay reduce or relace unemployment benefit

Unemployment benefits rules are definitely state by state. I know it may also depend on the company. Some companies will tell their employees they won't "dispute" an unemployment claim and to go ahead and apply. As long as you are honest about what severance she is receiving there isn't an...
by cherijoh
Sat Jul 26, 2014 11:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Does severance pay reduce or relace unemployment benefits?
Replies: 52
Views: 3258

Re: Public Speaking-help

I definitely recommend preparing by giving your presentation out loud until you feel comfortable with it. (Reading it in your head is of limited value). Do it in front of the mirror and then in front of an audience once you think you have it down pat. The latter can be a spouse or friend. If you are...
by cherijoh
Sat Jul 26, 2014 10:32 am
 
Forum: Personal Consumer Issues
Topic: Public Speaking-help
Replies: 79
Views: 4956

Re: help with inherited IRA

I have an inherited ITS from my mother which I am taking the required minimal distribution. I am 59 and the ITS is approx. 96,000. What would be a good asset allocation and what would be good funds to have the funds in? I plan to invest the small amount of distributions. I also have an inherited IR...
by cherijoh
Sat Jul 26, 2014 9:53 am
 
Forum: Investing - Help with Personal Investments
Topic: help with inherited IRA
Replies: 8
Views: 901

Re: Mortgage Prepayment Question

Your payment was probably received near the end of the statement period. For most of the month, interest accrued based on the higher balance. Next month, I think you'll see a much smaller allocation to interest. The portion in bold is not correct. As Twins Fan corrected me on a different thread, ev...
by cherijoh
Thu Jul 24, 2014 10:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 43
Views: 3168

Re: Reaching Severe Burnout - Can I Scale Back Career?

I am in a tough place career wise and have been having a harder time than I thought I ever would balancing my career, personal/family life, and financial situation. I am still young (30) but have been putting in brutal hours for the past 4 years or so with no end sight and I'm afraid I'm nearing a ...
by cherijoh
Thu Jul 24, 2014 9:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reaching Severe Burnout - Can I Scale Back Career?
Replies: 50
Views: 6010

Re: is this ( simple) retirement calculation correct?

I want to know if I can retire in 25 years, and then draw 100K ( in 2014 dollars ) per year for at least 30 years. I know there are online calculators to do this ( the Wiki has a list of over 30 :!: , and I have played with FireCalc ) , but I generally understand things better when I do the work my...
by cherijoh
Thu Jul 24, 2014 8:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: is this ( simple) retirement calculation correct?
Replies: 11
Views: 1224

Re: Need Help and totally confused!!

ER is expense ratio. I can find the ERs for my 401k plan on the website I use to check balances and make changes to my contributions. Our document is called "Participant Disclosure Notice".
by cherijoh
Thu Jul 24, 2014 9:17 am
 
Forum: Investing - Help with Personal Investments
Topic: Need Help and totally confused!!
Replies: 28
Views: 1908

Re: Dumb 3rd grade math question about beach house rental

The 10/28 + 10/28 + 8/28 method would be equitable if your were splitting something physical where you were splitting 100% of the total. But it doesn't account for the unused part of the total. It would work if a 4th couple were just there for 2 nights - it would then agree with the other method, to...
by cherijoh
Wed Jul 23, 2014 7:27 am
 
Forum: Personal Consumer Issues
Topic: Dumb 3rd grade math question about beach house rental
Replies: 61
Views: 4982

Re: Will baby boomers retiring spell doom for the markets

Answer this: Has the first wave of retiring boomers (born 1946 - 1949) had any measureable impact on any financial market, anywhere, simply by dint of selling anything to help fund retirement? The first wave of boomers was probably retiring with a pension and not so dependent on their IRA or 401K. ...
by cherijoh
Wed Jul 23, 2014 7:12 am
 
Forum: Investing - Theory, News & General
Topic: Will baby boomers retiring spell doom for the markets
Replies: 45
Views: 5435

Re: Anyone been to Charleston, SC?

I really enjoyed Cru Café the last time I was in Charleston http://crucafe.com/ . It is a really small restaurant in a historic home so I'd recommend reservations for sure. The chef is Cordon Bleu trained and specializes in Low Country cuisine. I can also give a recommendation to 82 Queen, but was d...
by cherijoh
Wed Jul 23, 2014 7:01 am
 
Forum: Personal Consumer Issues
Topic: Anyone been to Charleston, SC?
Replies: 27
Views: 1504

Re: Bloomberg rates Large Company 401k plans

Google shows a score of 37 for match - but then the mouse-over text indicates it is 50% match up to 6%. Elsewhere in the rankings, a 37 is given for 100% match up to 6%. Apparently no one bothered to proof read the text and check it against the graphic! :oops: Also who decided on the weightings of t...
by cherijoh
Tue Jul 22, 2014 10:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bloomberg rates Large Company 401k plans
Replies: 22
Views: 2313

Re: Pay down (not off) mortgage?

I am going to assume you are going to buy a new house when you sell this one. I will also assume you are not downsizing. I will assume you will not want a much larger mortgage than you have now (if you like large mortgages, you should be doing a cash out refi, not a payoff). I will assume you will ...
by cherijoh
Tue Jul 22, 2014 7:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Pay down (not off) mortgage?
Replies: 53
Views: 4973
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