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Re: Time to stop driving for 85 yo MIL

I think a letter from her doctor to the DMV would suffice - but with all the new laws on privacy and HIPAA, you might not get anywhere. I suppose you could call her auto insurance agent and see if the auto insurance policy can be cancelled. That, alone, might be enough to keep her from getting behi...
by cherijoh
Sun Jan 25, 2015 1:49 pm
 
Forum: Personal Consumer Issues
Topic: Time to stop driving for 85 yo MIL
Replies: 47
Views: 1049

Re: Very Basic Question on Roth IRA - Deadline?

For some reason I thought the IRA had to be open during the year for which it was funded. So I could open my wife's IRA today, make a non-deductible spousal IRA contribution for TY2014, then do a Roth conversion on it? (Income limits prevent me from contributing to a Roth directly.) Roth Conversion...
by cherijoh
Sun Jan 25, 2015 1:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Very Basic Question on Roth IRA - Deadline?
Replies: 8
Views: 300

Re: Fidelity Donor Advised Fund

How do you guys who have both a taxable account and a Donor Advised Fund contribute? If you transfer shares from a brokerage to a DAF I am assuming you need to keep in there for one year or NO ? The money can donated from the DAF almost immediately. My experience has been that it takes Fidelity a d...
by cherijoh
Sun Jan 25, 2015 10:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity Donor Advised Fund
Replies: 48
Views: 3023

Re: Winter Coat

Winters here can put you in the deep freeze for weeks at a time (read zero degrees and below). 30+ years ago I lived in a place like that. Syracuse NY. Sub zero was not unusual. You could count on an occasional -20 now and then. When I was a grad student I had to commute to campus by bus. The bus s...
by cherijoh
Sun Jan 25, 2015 10:20 am
 
Forum: Personal Consumer Issues
Topic: Winter Coat
Replies: 60
Views: 6503

Re: When/how to invest monthly savings into taxable?

Do not automatically reinvest distributions. Sweep them into a checking account ( not a money market account ). Reinvest them manually to rebalance to your desired AA. In the same way, direct the monthly transfer to correct your AA. L. I am at VG. The settlement fund is the prime money market. This...
by cherijoh
Sat Jan 24, 2015 10:15 am
 
Forum: Investing - Help with Personal Investments
Topic: When/how to invest monthly savings into taxable?
Replies: 32
Views: 2734

Re: 401k to Roth conversion for a retiree

ripete With $98,000 of other Modified Adjusted Gross income your SS benefits are "85%" taxable. So for each dollar of SS that you collect, you add another $.085 to your taxable income. So $36,000 X .85 = $30,600. Married filing jointly you will have 12,400 as a standard deduction and 7,90...
by cherijoh
Sat Jan 24, 2015 10:04 am
 
Forum: Investing - Help with Personal Investments
Topic: 401k to Roth conversion for a retiree
Replies: 15
Views: 1143

Re: Should I sell tax inefficient mutual funds?

Over 12 years ago when I was a complete rookie in investing, I found two mutual funds I felt comforatable with: VWIAX (Vanguard Wellesley), and PRWCX (T. Rowe Price Capital Appreciation). Unfortunately, I hold both of these in taxable accounts and over the years I have grown increasingly disappoint...
by cherijoh
Sat Jan 24, 2015 12:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I sell tax inefficient mutual funds?
Replies: 20
Views: 1229

Re: negotiating vacation days

My company is about that size and would not offer more vacation time. Actually that is a pretty generous vacation package. My guess is that 10 days for new hires and 15 days at 5 years is typical Depends on your industry I guess, in the tech industry 15 days to start is the bare minimum, many compa...
by cherijoh
Fri Jan 23, 2015 11:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: negotiating vacation days
Replies: 31
Views: 1658

Re: Vanguard's Process for Closing Funds

If a fund is closing to new investments, the fund company won't announce that in advance, as that would defeat the purpose. A fund closes to new investments when the managers can't find good investment opportunities for the the money it has. If the fund announced a close in advance, it would attrac...
by cherijoh
Fri Jan 23, 2015 11:27 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard's Process for Closing Funds
Replies: 6
Views: 965

Re: Negotiating Price of New Construction Home with Builder?

I really appreciate everyone's advice and input on my previously thread about upgrading to new home or staying in our current home. https://www.bogleheads.org/forum/viewtopic.php?f=11&t=156089 As we attempt to make the decision on whether to build a new home, another issue as arisen and I was w...
by cherijoh
Fri Jan 23, 2015 10:44 pm
 
Forum: Personal Consumer Issues
Topic: Negotiating Price of New Construction Home with Builder?
Replies: 9
Views: 997

Re: negotiating vacation days

If you are an experienced worker and the right fit for them, I doubt that they would balk if you asked for the 21 day vacation package. RM It depends on the role. If it is project work that will be waiting for you when you come back, then there may be negotiating room. But if someone has to cover y...
by cherijoh
Fri Jan 23, 2015 10:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: negotiating vacation days
Replies: 31
Views: 1658

Re: negotiating vacation days

Tell them what you want. Your negotiating power is strongest right before you accept the job. At my company they will generally match whatever vacation time a person was receiving at their previous job for a senior hire or someone they are trying to get from a competitor. Junior hires without much ...
by cherijoh
Fri Jan 23, 2015 10:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: negotiating vacation days
Replies: 31
Views: 1658

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

Can someone really put a group of high growth dividend paying stocks in an IRA and expect to live off the dividends only The results are extremely disheartening for those who actually would live to an older age of say 99 (where my study goes.) It seems that over half of that dividend income is eate...
by cherijoh
Fri Jan 23, 2015 9:34 pm
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 71
Views: 5180

Re: Should I Declare Victory and Pack It In?

You've got a lot of Social Security income coming if you delay til age 70. I'd guess at least $35,000 for you and even if your spouse doesn't work, you'll get the spousal SS of half that. So that's going to be a raise of $52K when you're 70, even after taxes that's probably $40K additional. Just of...
by cherijoh
Fri Jan 23, 2015 9:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16419

Re: How to climb up in a megacorp

Study the biographies of the current management and executives. What is their background? What assignments in the company have they held? Carefully choose and recruit a mentor. Both inside the company and from the industry as well. Let your objectives be known. Above all in every mega corp there ar...
by cherijoh
Fri Jan 23, 2015 8:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to climb up in a megacorp
Replies: 28
Views: 3140

Re: Terrible ? but...How hard is it to receive life ins payo

My Mom had a very small life insurance policy and it paid a small premium each year which had to be declared for taxes each year. I took over doing my Mom's taxes after my Dad passed, so I was aware of the policy. In addition, the policy information was in the same fireproof lock box as the will, po...
by cherijoh
Fri Jan 23, 2015 8:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 1772

Re: Surviving the Tax Bite of RMD Withdrawals in Retirement

Can someone really put a group of high growth dividend paying stocks in an IRA and expect to live off the dividends only The results are extremely disheartening for those who actually would live to an older age of say 99 (where my study goes.) It seems that over half of that dividend income is eate...
by cherijoh
Thu Jan 22, 2015 5:41 pm
 
Forum: Investing - Theory, News & General
Topic: Surviving the Tax Bite of RMD Withdrawals in Retirement
Replies: 71
Views: 5180

Re: Cosign or write loan

brad.clarkston wrote:
timboktoo wrote:
cherijoh wrote:Be aware of the gift tax exclusions.


I didn't think about that. Good point.

- Tim


You buy they house and sell it to them for $100.00


I don't think the IRS would buy that strategy.
by cherijoh
Wed Jan 21, 2015 9:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cosign or write loan
Replies: 40
Views: 1456

Re: What would you do in this scenario?

the heloc was used for a previously owned car that a neighbor was selling that was too good to pass up I hope you mean that this was a pre-owned vehicle you recently purchased from your neighbor and not that you are carrying a HELOC on a car that YOU no longer own! You essentially have loans on 2 c...
by cherijoh
Wed Jan 21, 2015 9:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: What would you do in this scenario?
Replies: 11
Views: 934

Re: Cosign or write loan

So back to the original question. If I ignore all the sound good advice and help them, which option would be better? I really like your honesty :) I wish you the best of luck. It's a hard position to be in. The best option if you must be involved is to simply give them the money. A gift, with no st...
by cherijoh
Wed Jan 21, 2015 8:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cosign or write loan
Replies: 40
Views: 1456

Re: 7 nights- Scotland or Ireland?

I did a CIE tour of Ireland a few years back with a group of friends. I'm not a big fan of bus tours, but this was a good one. We flew into Shannon and out of Dublin. We spent 3 nights in B&Bs and the other 3 in hotels. The highlights of the tour for me were the Ring of Kerry (although I was ver...
by cherijoh
Tue Jan 20, 2015 8:47 am
 
Forum: Personal Consumer Issues
Topic: 7 nights- Scotland or Ireland?
Replies: 31
Views: 1974

Re: Financial plan advice

Ruralavalon supplied you with lots of good information. One addition - if you want to use a 3-fund portfolio you should know that 4 parts of the S&P 500 index + 1 part of extended market index is equivalent to the total stock market index. Also, you can look at all your investments as one single...
by cherijoh
Mon Jan 19, 2015 9:00 am
 
Forum: Investing - Help with Personal Investments
Topic: Financial plan advice
Replies: 6
Views: 877

Re: Account disclosure requirements for refinance

I didn't ask them for their reason, but I do know that they have worked with the same mortgage broker lady for every mortgage they have ever done, and apparently their previous disclosure requirements have been far less so they were shocked by these requirements. Have they gotten a mortgage since t...
by cherijoh
Mon Jan 19, 2015 8:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Account disclosure requirements for refinance
Replies: 20
Views: 903

Re: 50K+ Annual Roth IRA Contributions?

I don't think you can put $25K per year into a Roth that way and there really isn't a need to either. <-- You don't appear to understand the topic of this thread which is a recent IRS ruling which does allow this. After tax contributions held in a 401k are already being treated similarly to how fun...
by cherijoh
Mon Jan 19, 2015 8:06 am
 
Forum: Investing - Theory, News & General
Topic: 50K+ Annual Roth IRA Contributions?
Replies: 25
Views: 2840

Re: What is a good rule of thumb on savings vs salary?

Many years ago I was told that half your age should be the percentage of your salary you should save for retirement. Seems like an easy rule of thumb. It may be easy to remember, but IMO would not be easy for many to implement due to competing goals like putting kids through college. Especially sin...
by cherijoh
Sun Jan 18, 2015 10:40 am
 
Forum: Investing - Help with Personal Investments
Topic: What is a good rule of thumb on savings vs salary?
Replies: 19
Views: 2796

Re: How much food to you really keep?

There are only the two of us, but DW and I have two large refrigerators (>20 cf each) with large freezers. We stock up on the expensive frozen foods plus longer lasting things requiring refrigeration but not freezing during sales, and draw them down when prices are higher. That's my only exercise i...
by cherijoh
Sat Jan 17, 2015 1:40 pm
 
Forum: Personal Consumer Issues
Topic: How much food to you really keep?
Replies: 57
Views: 4145

Re: Late-to-the-gate -- need some guidance

Thanks for your analysis, roxiell. That agrees with my uneducated assessment. Finding the right investments is the challenge, of course. The more I read the more questions I have but at least it's not an impossibility to achieve what would give me peace of mind. DH has his issues, including not wan...
by cherijoh
Sat Jan 17, 2015 12:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Late-to-the-gate -- need some guidance
Replies: 10
Views: 1460

Re: A refinance example that doesn't work?

Take a look at the Penfed 5/5 ARM that is at 2.75% now. https://www.penfed.org/55-Adjustable-Rate-Mortgage/ That is what I am using to get mine paid off in about seven years. +1 Rather than a traditional fixed rate loan, I would look at either a 5/1 or 7/1 year ARM and then keep the payments at or ...
by cherijoh
Sat Jan 17, 2015 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: A refinance example that doesn't work?
Replies: 10
Views: 1073

Re: Should I Declare Victory and Pack It In?

You've got a lot of Social Security income coming if you delay til age 70. I'd guess at least $35,000 for you and even if your spouse doesn't work, you'll get the spousal SS of half that. So that's going to be a raise of $52K when you're 70, even after taxes that's probably $40K additional. Just of...
by cherijoh
Sat Jan 17, 2015 11:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16419

Re: Are there any advisors on this site?

2) if so, do you do it for fun (blog) or do you get paid? (Can you say which site?) Get paid in Karma points. Bogleheads helped me and I pay it forward. +1 I am not a paid advisor, but in addition to Karma points, it is frustration-relief valve for me. I have plenty of friends who talk about consul...
by cherijoh
Sat Jan 17, 2015 11:20 am
 
Forum: Investing - Theory, News & General
Topic: Are there any advisors on this site?
Replies: 30
Views: 2567

Re: Another Refinance Question

Without more information I have to question why you are even refinancing. You are lowing the rate by 37.5 basis points. I have to imagine that most of the monthly "savings" are coming from extending the life of the loan. If that is the case it could actually be costing you more in the lon...
by cherijoh
Sat Jan 17, 2015 10:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Another Refinance Question
Replies: 11
Views: 654

Re: Should I Declare Victory and Pack It In?

Some things just do not compute, but I say: Go for it! You should be able to go back to work easily. The non-compute things: Either your income has only been that high for a few years or your spending has only been that low for 1 week. I think many folks like me will have a hard time wrapping their...
by cherijoh
Sat Jan 17, 2015 9:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I Declare Victory and Pack It In?
Replies: 173
Views: 16419

Re: Leaving job, 401k options

What is the typical recommendation here? Some reasons to leave it in a 401K are; 1) You are high income and will want to do a special thing called a "back door Roth" because your income is too high for some normal retirement options. 2) You are 55 and can spend the 401k money without payi...
by cherijoh
Sat Jan 17, 2015 9:29 am
 
Forum: Investing - Help with Personal Investments
Topic: Leaving job, 401k options
Replies: 14
Views: 1274

Re: New Home: All cash or mortgage?

I'm in the other camp... with mortgage rates down to 3.25% again inflation will make a mortgage look like lunch money in the longer term. .. not to mention the interest deduct for the IRS. There's good debt and bad debt, this is good debt at that rate. Not in my opinion for someone who is already r...
by cherijoh
Fri Jan 16, 2015 7:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: New Home: All cash or mortgage?
Replies: 21
Views: 1772

Re: Not grasping the backdoor roth-please help

Technically, your brokerage is correct that you can do a Roth IRA conversion while you have an existing tIRA. Rolling your existing tIRA into your 401k is not a requirement as much as it is a means of avoiding triggering a tax bill for the conversion. When you convert the tIRA into a rIRA like that...
by cherijoh
Fri Jan 16, 2015 6:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Not grasping the backdoor roth-please help
Replies: 11
Views: 1407

Re: What to do with 1.2M to be used for Private School?

Hello! My husband and I have one inheritance and one large long-term capital gains windfall that we would like to use for sending our three kids to private school. This would start for the upcoming school year and the tuition (with calculate 3% increase per year) would be an average of 83K per year...
by cherijoh
Fri Jan 16, 2015 5:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: What to do with 1.2M to be used for Private School?
Replies: 28
Views: 3669

Re: Getting deposed -- do I need to hire my own lawyer?

I doubt you will need an attorney. In a former life my atty boss advised us that "I do not recall" is a good answer but only if it is true. I would not try to screw over my former employer.... A former coworker was deposed (while still employed at the company) when a competing company was...
by cherijoh
Fri Jan 16, 2015 9:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Getting deposed -- do I need to hire my own lawyer?
Replies: 47
Views: 4461

Re: How would you put a value on a pension?

Job A pays $50,000/year and has no pension benefit. Job B pays $40,000/year but has a fixed non-indexed pension with a multiplier equal to 2.6% of the highest 5 years average salary that costs the employee 7% of salary. I assume you mean that the pension formula is 0.026 x ( years of service ) x (a...
by cherijoh
Thu Jan 15, 2015 8:29 am
 
Forum: Personal Finance (Not Investing)
Topic: How would you put a value on a pension?
Replies: 11
Views: 1347

Re: New mobile check deposit from Vanguard

Such an awesome feature. Unless you have an ATM right outside your front door, mobile check deposit is bound to be faster. I'm always curious about the popularity of this. How often do people actually have checks to deposit? I have direct deposit for my payroll check and that is the only routine de...
by cherijoh
Wed Jan 14, 2015 8:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: New mobile check deposit from Vanguard
Replies: 20
Views: 3898

Re: Merrill Lynch or Vanguard

Thanks for all the great suggestions! Just as I thought, there is an overwhelming advice to leave Merrill Lynch. I did get a chance to speak with my "advisor", and he seems genuine and not too pushy. Based on my risk tolerance and possibly needing the funds in 2 years, he was going to hav...
by cherijoh
Wed Jan 14, 2015 7:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Merrill Lynch or Vanguard
Replies: 48
Views: 3197

Re: Should pension plans be relied upon for retirement?

There is a type of pension plan called a "Multiemployer Pension Plan" which can be problematic. These types of plans (often union-related) typically have multiple different companies paying into them, which can create problems for the strong members if some of the weaker members go bankru...
by cherijoh
Mon Jan 12, 2015 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should pension plans be relied upon for retirement?
Replies: 35
Views: 3087

Re: company changed plans

I have worked for the same company for over 20 years. My company recently switched from a 403 with Transamerica to JP Morgan. Although JP will accept a rollover, Transamerica is saying i can't do this unless I am 59.5 or I separate from my employer. JP charges a flat fee of 30/yr as opposed to tran...
by cherijoh
Mon Jan 12, 2015 10:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: company changed plans
Replies: 7
Views: 678

Re: Need help informing my father he is making a mistake

All good replies. I was not planning on confronting him and telling him straight up your making a mistake. I was planning more to invoke conversation to point out the problems or issues I saw and suggest alternatives. Correct with him having cash elsewhere he is not 100% stocks but with this adviso...
by cherijoh
Mon Jan 12, 2015 9:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help informing my father he is making a mistake
Replies: 58
Views: 4909

Re: Time for a new dentist?

I really like my current dentist. he was recommended to me by a friend when I mentioned a horror story about my previous dentist. He is very much into continuing education and I have learned a lot from him about how dental hygiene can affect the rest of your health. It is now widely disseminated, bu...
by cherijoh
Mon Jan 12, 2015 9:37 pm
 
Forum: Personal Consumer Issues
Topic: Time for a new dentist?
Replies: 38
Views: 4212

Re: Looking for recommendations for a trip to Panama

I'm looking for recommendations for a trip to Panama. I'm planning to be there for seven full days (with a travel day on either end) in early September. We're flying into/out of Panama City but don't want to spend all our time there. I'm eager and willing to get a little off the beaten path but mor...
by cherijoh
Mon Jan 12, 2015 9:10 pm
 
Forum: Personal Consumer Issues
Topic: Looking for recommendations for a trip to Panama
Replies: 10
Views: 1205

Re: Nova Scotia in early summer, camping, with dog?

I did a 6-day walking tour with a Canadian outfitter that concentrated on Cape Breton (although we started and ended in Halifax). We traveled clockwise and stayed the first night at a combination B&B and Distillery. The second night we stayed in Cheticamp. It is an Acadian (think Cajun) fishing ...
by cherijoh
Mon Jan 12, 2015 8:55 pm
 
Forum: Personal Consumer Issues
Topic: Nova Scotia in early summer, camping, with dog?
Replies: 11
Views: 1631

Re: Questions about mortgage refinancing

New to the board. I have a question (or a few) about the mortgage refinancing. Case: - have a mortgage of $225,000 since 2010 for 15-year term at 3.875%; Monthly payment is about $2200; - current balance is about $176,000 and 10 years left; - at age of 40; Question: - Whether it is worth of refinan...
by cherijoh
Mon Jan 12, 2015 7:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Questions about mortgage refinancing
Replies: 8
Views: 484

Re: Should pension plans be relied upon for retirement?

I was having a discussion today over dinner with some friends and one of the guys gets a pension from a large company (private sector). It is a well known and established company with a long history, etc. However, one of the other guys in the group was saying that he has heard of some companies get...
by cherijoh
Mon Jan 12, 2015 8:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Should pension plans be relied upon for retirement?
Replies: 35
Views: 3087

Re: Two Homes in Retirement?

Once upon a time I did a cost analysis of owning a second property and I figured out that if I was going to own it and if it would cost us $ 750 k and we would stay there 2 months out of the year, it would cost us $ 500 a night. We have friends from Minnesota who recently bought a casita not far fr...
by cherijoh
Mon Jan 12, 2015 8:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Two Homes in Retirement?
Replies: 38
Views: 3490

Re: Is a Sub-4% SWR a Boglehead Quirk?

For the "No"/"yes" box, the person took a smaller SWR than necessary and ended up with a larger residual estate vs. spending more in retirement. Some will view this outcome as prudent since you can't know the future and others will view it as a wasted opportunity and very foolis...
by cherijoh
Sun Jan 11, 2015 11:14 pm
 
Forum: Investing - Theory, News & General
Topic: Is a Sub-4% SWR a Boglehead Quirk?
Replies: 177
Views: 10623
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