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Re: Are we allowed to lump tax withholdings at year end?

I'm wondering if there are limitations or penalties for under-withholding federal taxes towards the beginning of the year and then adjusting at the end so that total tax paid is within the allowed limits without penalty. I suspect the IRS somehow disallows this. If so, how? I wouldn't mess around t...
by cherijoh
Sat Jan 31, 2015 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Are we allowed to lump tax withholdings at year end?
Replies: 6
Views: 290

Re: Cash Out Refi, Normal Refi or HELOC

Theoretical Question here. A bit of a background (My full yearly portfolio update can be found here for all info: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=154513 ) Emergency funds = ~$10K Others monies: ~$1500 (tax refund – this will probably just go in savings/emergency funds) ~22K ...
by cherijoh
Sat Jan 31, 2015 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Cash Out Refi, Normal Refi or HELOC
Replies: 2
Views: 150

Re: Should I participate in my 401k?

On the con side I believe participating in the 401k (along with my income) will preclude me from using a Traditional IRA for tax deductions and the fees seem outrageous to me. Unfortunately, the fact that you have a retirement plan - whether or not you participate - and your income determine your e...
by cherijoh
Sat Jan 31, 2015 10:11 am
 
Forum: Investing - Help with Personal Investments
Topic: Should I participate in my 401k?
Replies: 22
Views: 883

Re: Mortgage paydown vs. investing if moving soon

I know that typically, the answer is to invest rather than pay down a mortgage, especially with a low rate (mine is currently 3.375% fixed). What if I plan on moving in 3-4 years and purchasing a more expensive home? Put the money into stocks and I might lose 30% of it. Put it into bonds and I prob...
by cherijoh
Fri Jan 30, 2015 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage paydown vs. investing if moving soon
Replies: 8
Views: 539

Re: For those who have living trusts...

The hard part of the journey is still ahead of us - convincing financial institutions that, yes, the asset is inside the trust, Actually this part should be no problem if your FIL changed the ownership of each account to the trust, which is one of the most important parts of setting up a trust. The...
by cherijoh
Fri Jan 30, 2015 6:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: For those who have living trusts...
Replies: 25
Views: 2518

Re: Vesting and Normal Retirement Age

I'm not sure about the regulations around curtailing the vesting period due to the age of the participants. However, a five year vesting schedule sounds on the long side for a 401k plan. My company didn't provide a match until a year, but then vesting was immediate.
by cherijoh
Fri Jan 30, 2015 6:08 pm
 
Forum: Investing - Theory, News & General
Topic: Vesting and Normal Retirement Age
Replies: 4
Views: 446

Re: Advice on current plan and purchasing of second home

Any gain in property would match investment portfolio gains This is a big assumption - I don't think the evidence supports this over the long-term for RE in general. Besides, if you bought now, wouldn't you be buying at the top of the market? With reversion to the mean, this suggests your return wo...
by cherijoh
Fri Jan 30, 2015 10:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice on current plan and purchasing of second home
Replies: 5
Views: 645

Re: Accidentally forgot a credit card for three months HELP!

Am I correct in thinking a person can annotate a problem on their credit report with an explanation? I'd keep it to one sentence and mention the amount. I'm pretty sure you can contest what is on your credit bureau report. Since OP mentioned it says "Serious Default", I think stating the ...
by cherijoh
Fri Jan 30, 2015 6:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Accidentally forgot a credit card for three months HELP!
Replies: 34
Views: 3058

Re: Workplace net worth conversations you'd like to avoid?

I had a friend ask me about whether I had gotten rid of PMI yet and if so how had I done it. (This was about 5 years after she had purchased a home and prices had been rising). Since I had put 20% down on my house, I had no experience with PMI. When I told her that, I got a shocked reaction. (She wa...
by cherijoh
Wed Jan 28, 2015 10:47 pm
 
Forum: Personal Consumer Issues
Topic: Workplace net worth conversations you'd like to avoid?
Replies: 80
Views: 7195

Re: What age did you move out?

I lived on campus at an in-state school (technically within commuting distance), but I put down 21 - 25 which is when I graduated. I acceptable a job 150 miles from my parents house, so I moved out a couple of weeks after graduation. I never moved back in, but did visit (for no more than a week at a...
by cherijoh
Wed Jan 28, 2015 10:14 pm
 
Forum: Personal Consumer Issues
Topic: What age did you move out?
Replies: 117
Views: 4841

Re: Success stories of NOT buying more/too much house

Some of you may find this story and podcast on tiny houses of interest. This was yesterday's topic for a local call in radio show. It gives a different perspective on what some people define as "too much house". :shock:
by cherijoh
Tue Jan 27, 2015 9:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 65
Views: 5947

Re: Supreme Court to hear fiduciary duty/high cost funds cas

Will this have any bearing on the claim (by MegaEmployer) that they are not "allowed" to offer, say, Institutional classes [lower ER classes] of Vanguard mutual funds because it would disproportionately benefit higher-paid employees? I'm sure I've seen others list their mutual funds avail...
by cherijoh
Mon Jan 26, 2015 11:19 pm
 
Forum: Investing - Theory, News & General
Topic: Supreme Court to hear fiduciary duty/high cost funds case
Replies: 28
Views: 3663

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
Mon Jan 26, 2015 11:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: negotiating vacation days
Replies: 37
Views: 2669

Re: 40 years of IRA and 401k Contributions

I started contributing to a workplace pre-tax savings plan (with employer match) in 1982. I thought this was a 401(k), but your table starts in 1987. Wikipedia says it got its start in 1980. I had a similar plan that I joined in the early 80's. I just pulled out my old tax returns and verified that...
by cherijoh
Mon Jan 26, 2015 10:31 pm
 
Forum: Investing - Theory, News & General
Topic: 40 years of IRA and 401k Contributions
Replies: 18
Views: 2252

Re: Where to get medallion signature guarantee

Got an email response from the person I've been working with at Vanguard....I have to say I'm not impressed. First she asked if any of the funds are close to me?! Well, one of the five is 120 miles away, but it's the one with the smallest fund balance. The others are scattered around the country! A...
by cherijoh
Mon Jan 26, 2015 9:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to get medallion signature guarantee
Replies: 32
Views: 2465

Re: Is a financial advisor going to help?

Great forum - sounds like a resounding no on AUM based financial advisor, and a maybe yes on hourly advisor. Regardless, I think we'll get a lot more out of an hourly advisor if we study the board more before paying for one! Also, we should be asking a lot more questions to our CPA. Right now that ...
by cherijoh
Mon Jan 26, 2015 9:30 am
 
Forum: Investing - Help with Personal Investments
Topic: Is a financial advisor going to help?
Replies: 20
Views: 1945

Re: New car safety features

I really like the back-up camera, cross traffic alert, and blind-spot indicator on my 2010 Ford Fusion. I almost always return to find large SUVs parked on either side of my car in any parking lot :annoyed, so the cross-traffic alert is helpful when I have to back out and people are speeding through...
by cherijoh
Sun Jan 25, 2015 9:32 pm
 
Forum: Personal Consumer Issues
Topic: New car safety features
Replies: 70
Views: 3680

Re: Long term cap gains tax rate for 15% bracket

Would you kindly share w/ us which words in Ch. 16 you consider misleading? Table 16-1. It says: IF your net capital gain is from ... other gain1 and the regular tax rate that would apply is 10% or 15%, THEN your maximum capital gain rate is ... 0%. But it is not 0%. Some of it may be 0%, but some ...
by cherijoh
Sun Jan 25, 2015 9:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Long term cap gains tax rate for 15% bracket
Replies: 17
Views: 1730

Re: Success stories of NOT buying more/too much house

When your kids move on to college etc, and it's just two of you, there is your reward, no need to move when you retire (at least not to downsize). And there are many more ways you save than just the cost of the larger house : 1) Lower utility bills (heat and electric) 2) Less furniture/carpeting/ro...
by cherijoh
Sun Jan 25, 2015 8:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 65
Views: 5947

Re: Preparing for RMDs

Donating to charity from an ira is the same as 100% tax. Many people with large estates (defined to mean more money than they or their heirs "need") and large charitable ambitions don't see it that way. If you don't want the money that is fine but it doesn't help you pay for health care o...
by cherijoh
Sun Jan 25, 2015 8:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Preparing for RMDs
Replies: 66
Views: 4824

Re: Preparing for RMDs

I will be retiring sometime next year at 55 (single). I will receive a federal pension of 90k plus cola. Pension will cover my expenses and allow me to save 1000-1500 a month. I believe I will be in the 25% tax bracket once retired. AA is 50/50 (I don't anticipate withdrawing anything until 70 1/2)...
by cherijoh
Sun Jan 25, 2015 7:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Preparing for RMDs
Replies: 66
Views: 4824

Re: Adopting

Jack, I very much appreciate your reply, the link, and what you shared. I am a single woman, and my plans to adopt when I was older began when I was a little girl, which is just the plain truth. ("When I grow up, I want to adopt....") I have loads of experience with being an attorney for ...
by cherijoh
Sun Jan 25, 2015 7:23 pm
 
Forum: Personal Consumer Issues
Topic: Adopting
Replies: 29
Views: 2465

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: 69
Views: 3681

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: 10
Views: 655

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: 50
Views: 3401

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: 65
Views: 7605

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: 2821

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: 1226

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: 22
Views: 1470

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: 37
Views: 2669

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: 1009

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: 1060

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: 37
Views: 2669

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: 37
Views: 2669

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: 75
Views: 6159

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: 16625

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: 37
Views: 4888

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: 1804

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: 75
Views: 6159

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: 1480

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: 967

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: 1480

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: 2004

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: 8
Views: 1299

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: 908

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: 2856

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: 2814

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: 4189

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: 1470

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: 1085
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