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Re: Saver's credit to Roth then withdraw?

Thanks, didn't catch that the look back would affect multiple future years. Looking at the current form for 2014 taxes, if one had done this in 2012, taking the $228 out in, say, May of 2012 that would still mean the extra $228 would need to be put in for 2014. So that would mean an extra $228 for 2...
by jeffyscott
Tue Mar 03, 2015 4:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Saver's credit to Roth then withdraw?
Replies: 4
Views: 582

Saver's credit to Roth then withdraw?

Trying to help a very low income person reduce income tax liability, via saver's tax credit. A single person with income of $12,700 would pay Federal income taxes of $114. If this person were to put $228 in a Roth IRA, she would qualify for a 50% saver's credit. This would reduce tax liability by $1...
by jeffyscott
Mon Mar 02, 2015 5:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Saver's credit to Roth then withdraw?
Replies: 4
Views: 582

Re: Inflation Calculator Help Needed.....

Calculator is using the average CPI for each year: http://www.usinflationcalculator.com/frequently-asked-questions-faqs/#HowInflationCalculatorWorks The chart is showing the change for each calendar year. If Jan 1, 2011 CPI = 1, then Dec 31, 2011 CPI = 1.03 (and average is maybe 1.015, unless they a...
by jeffyscott
Sun Mar 01, 2015 9:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Inflation Calculator Help Needed.....
Replies: 3
Views: 264

Re: HSA deduction question

Yes, if your contributions are by payroll deduction then you would not be deducting it from income on tax form. If gross income is $50,000 and $5000 went to HSA by payroll deduction then taxable income on W2 would be $45,000. If instead you made the contribution yourself, then taxable income on W2 w...
by jeffyscott
Sun Mar 01, 2015 9:08 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA deduction question
Replies: 3
Views: 399

Re: Taxes on cash back credit card?

Citibank issued 1099s for bonus airline miles awarded for opening bank accounts in 2012. Citibank did not issue 1099s for credit card sign up bonuses and it does not appear that any issuer has ever done that. I trust that these giant banks know better than me what is taxable and what is not. http://...
by jeffyscott
Sun Mar 01, 2015 8:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Taxes on cash back credit card?
Replies: 5
Views: 733

Re: Old car insurance

Collision with uninsured/underinsured or hit and run driver is not covered by comprehensive.

Comprehensive is actually called "other than collision loss" in my policy, under "damage to your auto".
by jeffyscott
Sat Feb 28, 2015 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 2730

Re: Old car insurance

Question: Why is everybody recommending comprehensive but dropping collision? If you can afford to total the car in a wreck, why would you insure the risk of flood, trees, fire, etc? Yep, I've never understood the logic of that either. It seems to be just based on the cost being minimal. I figure t...
by jeffyscott
Sat Feb 28, 2015 10:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 2730

Re: International PE10 Update

None of this is an exact science and long-term forecast from GMO and RAFI (precise to three significant digits!) should be printed somewhere between the funny pages and your daily horoscope. But one basic fact slaps you in the face looking at these charts. Most countries are at or below their histo...
by jeffyscott
Sat Feb 28, 2015 9:54 am
 
Forum: Investing - Theory, News & General
Topic: International PE10 Update
Replies: 28
Views: 2566

Re: tax dependent vs $3950 vs income

He will get the $3950 personal exemption (plus the standard deduction) and, so, will have no taxable income.

Also, I believe that the college tax credits (lifetime learning credit?) now go to him and can not be claimed by you.
by jeffyscott
Sat Feb 28, 2015 9:35 am
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1095

Re: Poll: How Would You Want Your Estate Divided?

Each of the other children received approximately $10K - so there you have it. The price of a used car. The other children should have offered their extra 10K to the one who was cut out. Better option would have been for grandma to leave it equal and leave it to the better off one to decide if he o...
by jeffyscott
Wed Feb 25, 2015 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How Would You Want Your Estate Divided?
Replies: 43
Views: 3428

Re: Problems with Internet Explorer

KyleAAA wrote:IE hasn't been worth using since the 90s. You made the right choice.


I don't know about that, wasn't Netscape a better option back then :happy .
by jeffyscott
Sun Feb 22, 2015 11:14 am
 
Forum: Personal Consumer Issues
Topic: Problems with Internet Explorer
Replies: 24
Views: 1592

Re: Citi Cash Rewards vs. Fidelity Amex

I'd been thinking of getting the Fidelity Amex, as a lot of our spending is at Costco. With that relationship ending in about a year, I probably won't bother and will wait to see what Costco is going to accept in future. We are mostly aiming at earning sign-up bonuses, so the ongoing 2% rebate would...
by jeffyscott
Sun Feb 22, 2015 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Citi Cash Rewards vs. Fidelity Amex
Replies: 20
Views: 1905

Re: Old car insurance

I liked to keep collision and comprehensive on at least one car all the time. This is because that coverage carries over to some other situations such as rental cars (in the US). My policies have always seemed to exclude rented cars for collision and comprehensive coverage, maybe this varies by sta...
by jeffyscott
Sat Feb 21, 2015 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 2730

Re: Old car insurance

One factor is I don't think the insurance premiums are affected by mileage on the vehicle. They seem to go by just the model year. So I think the premium would be the same if the truck had 150,000 miles, for example. But, were it totaled, you would collect much more on a 40,000 mile truck than a 150...
by jeffyscott
Sat Feb 21, 2015 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Old car insurance
Replies: 39
Views: 2730

Re: Poll: How Would You Want Your Estate Divided?

I have read an article it says you don't need to evenly split in many situation. If one child is lawyer and another is school teacher, you should give the school teacher more. The lawyer may be even better off than you are. If one child is disabled, he/she needs more help. You don't need to give an...
by jeffyscott
Sat Feb 21, 2015 12:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How Would You Want Your Estate Divided?
Replies: 43
Views: 3428

Re: Poll: How Would You Want Your Estate Divided?

I didn't vote simply because, in my opinion all of the selections are unfair, at least if I am understanding them correctly. I agree. Though I may not understand the confusing way the options are presented. I think in situation A, I would like leave 1/3 to the surviving child and divide the other 2...
by jeffyscott
Sat Feb 21, 2015 12:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: How Would You Want Your Estate Divided?
Replies: 43
Views: 3428

Re: Streaming alternatives to Netflix and Amazon?

Don't know if they are on Roku, but but free ones that I have used a bit are snagfilms, NoBudge.com, and crackle. Do not use them a lot, being pretty happy with what Netflix offers. I don't know of anything besides netflix, amazon, and hulu+ that offer service for a monthly fee. Everything else seem...
by jeffyscott
Sat Feb 07, 2015 6:32 pm
 
Forum: Personal Consumer Issues
Topic: Streaming alternatives to Netflix and Amazon?
Replies: 5
Views: 640

Re: When 60/40 just isn't appropriate

I propose the center of gravity for those who have accumulated enough for retirement to be 30% stocks and 70% bonds. For example, if we consider 1926 to 1952, the year in which CREF was founded, I am seeing this. 35/65 was the optimum. Funny, not long ago it seemed like 50/50 was considered to be e...
by jeffyscott
Sat Feb 07, 2015 6:02 pm
 
Forum: Investing - Theory, News & General
Topic: When 60/40 just isn't appropriate
Replies: 127
Views: 13124

Re: Question for Rewards Card Users (Airline)

If it is truly an airline card then it is not even a matter of moving the miles/points, you don't have a choice they get moved automatically to the associated frequent flyer account. I have at least a couple hundred thousand miles/points from credit card sign up bonuses for cards that have been canc...
by jeffyscott
Sat Feb 07, 2015 5:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question for Rewards Card Users (Airline)
Replies: 5
Views: 729

Re: Reliability of LED televisions?

CR says: "Westinghouse is among the more repair-prone brands of flat panel LCD TVs. That's what we found when we asked about more than 177,000 flat panel LCD and plasma TVs purchased by our readers between 2010 and 2014. The graph shows the percentage of models for each brand that were repaired...
by jeffyscott
Sun Jan 25, 2015 10:48 am
 
Forum: Personal Consumer Issues
Topic: Reliability of LED televisions?
Replies: 18
Views: 1257

Re: Rental Car Prices - is this the new normal ?

If that is airport price, check for off airport. Also one-way can sometimes be ridiculously inflated. Like a couple others we use Costco as their system is so simple. I could also use AARP but it is annoying as you have to research which coupon codes to use and check each company separately. I book ...
by jeffyscott
Sun Jan 25, 2015 10:30 am
 
Forum: Personal Consumer Issues
Topic: Rental Car Prices - is this the new normal ?
Replies: 89
Views: 7856

Re: Elderly Mother in MI - Assisted Living transition

Looks like this may be a place to get some info: http://www.payingforseniorcare.com/medicaid-waivers/mi-choice-waiver-program.html But, I would first spend your time finding an assisting living place that will work for her, rather than worrying about how much of her money you can protect for her hei...
by jeffyscott
Sun Jan 25, 2015 10:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Elderly Mother in MI - Assisted Living transition
Replies: 10
Views: 1042

Re: Roth w/d v. 401k loan to pay credit card?

Probably the loan is the better option and even if you did lose the job, you could then take money from the Roth to pay back the loan. After you pay off the debt will you be maxing out your Roth and 403b? Does the 403b have good investment options? The answers to those questions relate to whether or...
by jeffyscott
Mon Jan 19, 2015 10:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth w/d v. 401k loan to pay credit card?
Replies: 3
Views: 293

Re: Savings rate, age, and home affordability

I am currently renting. My total annual rent is 14% of gross salaried income as I am not counting overtime, dividends etc. I am considering purchasing a condo and the purchase price would be 3.4x our gross salary and monthly PITI plus HOA dues would be about 22% of income. You would (hopefully) get...
by jeffyscott
Mon Jan 19, 2015 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Savings rate, age, and home affordability
Replies: 3
Views: 714

Re: Home Owners insurance pricing ???

4. My coverage A (dwelling) was very high for Hartford. They ran their program again and said the coverage was right. It's supposed to reflect the cost to rebuild in my area. 5. Other insurance companies that I have contacted in the past have a lower valuation for coverage A. Are they just "lo...
by jeffyscott
Sun Jan 18, 2015 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Owners insurance pricing ???
Replies: 14
Views: 1568

Re: What Should I Do With My HSA?

Meanwhile, the bank where my HSA was deposited has been acquired by a new bank, which now charges a $3 monthly fee if you don't have a minimum balance of $3k. Further, the only regular health expense I have at the moment would be my yearly eye exams, contacts, and new glasses every now and then. If...
by jeffyscott
Sun Jan 18, 2015 12:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: What Should I Do With My HSA?
Replies: 10
Views: 1110

Re: Tap IRA early or use SS early ??

Pearl1234 wrote:Nobody gets out alive.


That's one thing I am not sure how to include in this decision. Taking early is best if you die in your 60s or 70s.

A male that makes it to 62 has only a 60% chance of living to 80 and a female has a 70% chance, based on SS actuarial tables.
by jeffyscott
Mon Jan 12, 2015 5:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tap IRA early or use SS early ??
Replies: 121
Views: 7196

Re: 2000-2014

What were the returns of the Wellesley and Wellington funds during this time period? M* has 7.83% for Wellington (VWENX) and 7.86% for Wellesley, not quite the same time period as they update daily so it's for the 15 years ended 1/9/15. I've owned Wellington over that time, also Dodge and Cox balan...
by jeffyscott
Sun Jan 11, 2015 10:35 am
 
Forum: Investing - Theory, News & General
Topic: 2000-2014 [15 year returns]
Replies: 26
Views: 4160

Re: ubunto vs xubuntu vs lubuntu laptop

Mint linux is the most polished linux distribution I've ever used. I agree, not that I have tried all that many versions. In comparison with Xubuntu, the Mint XFCE menu search box works better and the standard included office package is better. The Mint software updater is a bit confusing with the ...
by jeffyscott
Sun Jan 11, 2015 9:58 am
 
Forum: Personal Consumer Issues
Topic: ubunto vs xubuntu vs lubuntu laptop
Replies: 21
Views: 2473

Re: Emergency Road Service..........

I had AAA for about 30 years, but wasn't buying insurance through them; I had USAA auto insurance. I kept AAA for the emergency road service, the maps and the travel discounts. I probably didn't use emergency road service more than 4-5 times in 30 years. They were usually pretty good, except for th...
by jeffyscott
Sun Jan 11, 2015 8:48 am
 
Forum: Personal Consumer Issues
Topic: Emergency Road Service..........
Replies: 36
Views: 2896

Re: Keeping CC Receipts

Friends have had restaurant servers give themselves an extra $10 tip by writing a "1" and then retotaling the bill after they've departed. In fact a friend's investment club went out to a fancy restaurant for a year-end dinner and everyone's CC got stiffed for an extra $10 tip. I've also ...
by jeffyscott
Sun Jan 11, 2015 8:34 am
 
Forum: Personal Consumer Issues
Topic: Keeping CC Receipts
Replies: 45
Views: 3733

Re: Social Security election change? Q for my 71 yr Mom

Think of it this way: Each time he was married, if he was working, he paid into SS rather than having the premium be part of the family take-home pay. Everyone with one spouse or none also pays the same tax, so your comment makes no sense as a justification. Anyway, the rules are what they are and ...
by jeffyscott
Mon Jan 05, 2015 5:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security election change? Q for my 71 yr Mom
Replies: 21
Views: 2290

Re: Investing for income during retirement

He has agreed to this in theory, but has yet to act on it. My father doesn't want to pay the attorney fees for this, so my other sister and I have agreed to pay for it ourselves. Seems to me the folks getting the $150K loan should be the one paying this. Including my father and his sister, who had ...
by jeffyscott
Sun Jan 04, 2015 4:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing for income during retirement
Replies: 15
Views: 2062

Re: Purchasing foreign currency for vacations (present/futur

However AFAIK the VG TIBM fund hedges back into USD? Exchange rate changes will therefore neither benefit nor advantage you as an investor. So it's not a currency hedge. Ah, didn't know that they hedge. Some unhedged ETFs listed here: https://www.bogleheads.org/wiki/Developed_market_bonds#Index_fun...
by jeffyscott
Sun Jan 04, 2015 10:05 am
 
Forum: Personal Consumer Issues
Topic: Purchasing foreign currency for vacations (present/future)
Replies: 21
Views: 1797

Re: Stock vs. bonds in a Roth?

Why can't you buy I-bonds from the comfort of your chair at treasurydirect.gov?
by jeffyscott
Sun Jan 04, 2015 9:55 am
 
Forum: Investing - Theory, News & General
Topic: Stock vs. bonds in a Roth?
Replies: 11
Views: 1776

Re: Vanguard's "Cost Compare" calculator and 3.4% expense ra

Net operating expenses in the annual report are 0, or actually less than 0.005% based on the footnote. I assume Schwab is reimbursing the fund for expenses. I assume morningstar includes the expenses of the underlying funds. I assume Vanguard is (ridiculously) adding the gross expenses (which invest...
by jeffyscott
Sun Jan 04, 2015 9:51 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard's "Cost Compare" calculator and 3.4% expense ratios
Replies: 1
Views: 584

Re: Investing for income during retirement

Not Law, I have discussed the details of this loan with my father, and it's a terrible idea. It will be a loan to my brother-in-law. My father says that if my BIL fails to pay him back, that the amount of the principal will just be taken out of my sister's (BIL's wife) portion of my father's estate...
by jeffyscott
Sun Jan 04, 2015 9:40 am
 
Forum: Investing - Help with Personal Investments
Topic: Investing for income during retirement
Replies: 15
Views: 2062

Re: The Global Portfolio

57% Stocks 43% Bonds Within stocks 49% US 39% Developed ex-US 12% EM Within bonds 28% US 65% Developed ex-US .6% EM .1% Other? Interesting, that would mean there is US and foreign market allocations are quite different, with the US at 70% stock and 30% bond, while foreign developed is 44% stock and...
by jeffyscott
Sun Jan 04, 2015 9:14 am
 
Forum: Investing - Theory, News & General
Topic: The Global Portfolio
Replies: 13
Views: 1352

Re: Purchasing foreign currency for vacations (present/futur

bpp wrote:Hedge by buying some IGOV?


That or buy Vanguard Total International Bond Index.

Buying foreign currency now would be similar to moving some assets from US bonds to foreign bonds now and then switching back after (or during) the trip(s).
by jeffyscott
Sun Jan 04, 2015 8:58 am
 
Forum: Personal Consumer Issues
Topic: Purchasing foreign currency for vacations (present/future)
Replies: 21
Views: 1797

Re: Social Security election change? Q for my 71 yr Mom

Or is it moot, since I googled maximum SS and it appears to be around $2,600, so even if Dad got Max, then hers is over half that amount already? I can ask my dad how much his SS is, and he'd probably tell me, but don't even want to start the process if it's not possible to change. Maximum PIA appe...
by jeffyscott
Sun Jan 04, 2015 8:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Social Security election change? Q for my 71 yr Mom
Replies: 21
Views: 2290

Re: Repair or Replace Car?

I had the 2002 car appraised at Carmax about 6 weeks ago and it was around $1,500. Today we got a repair bill for $850. So is it still worth $1500 as is, or is it now worth more like $650? If the need for the repair reduces the value, you have essentially already paid at least part of this repair b...
by jeffyscott
Sat Jan 03, 2015 12:59 pm
 
Forum: Personal Consumer Issues
Topic: Repair or Replace Car?
Replies: 13
Views: 1716

Re: Rollover a 457 to a 457 or IRA (or not at all)?

A possible reason to keep the old 457... My understanding is you can withdraw from a 457 at any age, if you no longer work for that employer. So this may mean that if you leave the old 457 as is, you could withdraw from it today without penalty. Of course, you should check on this as I am only going...
by jeffyscott
Sat Jan 03, 2015 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rollover a 457 to a 457 or IRA (or not at all)?
Replies: 10
Views: 813

Re: Vanguard states ERs to 3 places!

What precision means in this case it is not that straightforward. IDK, I think it is. As you point out, what matters for the numerator is "what Vanguard's accountants charge for expenses" because that is what is taken from the investors. That figure is going to be precise amount $X. The n...
by jeffyscott
Sat Jan 03, 2015 12:04 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard states ERs to 3 places!
Replies: 26
Views: 2898

Re: Vanguard states ERs to 3 places!

They are reporting the figures incorrectly. For example from this: The funds expenses are paid as they're accrued, totaled up at the end of the year, and listed as a dollar figure in the funds annual report. For example: The Vanguard Total Stock Market Fund Annual Report for the period ending 12/31/...
by jeffyscott
Sat Jan 03, 2015 10:43 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard states ERs to 3 places!
Replies: 26
Views: 2898

Re: Vanguard states ERs to 3 places!

I would think that some expenses are a set percent of assets, such as a management fee, these would be a precise percentage and presumably have, at most, 2 decimal places. Other expenses of running the fund are whatever they happen to be and would not be expected to be exactly a two decimal place pe...
by jeffyscott
Fri Jan 02, 2015 5:40 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard states ERs to 3 places!
Replies: 26
Views: 2898

Re: Is a bond's SEC yield a good predictor of it's returns?

SEC yield is in the ballpark of average YTM (will be slightly different due to the 30-day averaging for SEC yield; on 11/30/2014 average YTM for Vanguard Total Bond Index Fund, VBMFX, was 2.1% and SEC yield was 2.06%). I think SEC yield is after fund expenses and YTM is not. That is not much of a f...
by jeffyscott
Fri Jan 02, 2015 5:19 pm
 
Forum: Investing - Theory, News & General
Topic: Is a bond's SEC yield a good predictor of it's returns?
Replies: 8
Views: 917

Re: High Home Price-to-Income ratios - unhealthy?

2 pieces: Paul Krugman blog on Zoneland and Flatland (the latter is places like Texas, where the urban area grows without real limit, and the real price of housing doesn't move much; the former is Boston-NYC-SF-LA ie where zoning constrains growth (upward or outward) and demand pretty consistently ...
by jeffyscott
Thu Jan 01, 2015 10:23 am
 
Forum: Personal Finance (Not Investing)
Topic: High Home Price-to-Income ratios - unhealthy?
Replies: 46
Views: 4881

Re: Why donate to charity?

I'm surprised at all the odd (to me) ways people think about this. If I donate a dollar, It means I get $0, the IRS gets $0, and the charity gets $1. If I do not donate then I pay the IRS $0.33 and keep $0.67. So it's: donate the $1 Me: $0 IRS: $0 Charity: $1 do not donate the $1 Me: $0.67 IRS: $0.3...
by jeffyscott
Thu Jan 01, 2015 9:24 am
 
Forum: Investing - Theory, News & General
Topic: Why donate to charity?
Replies: 61
Views: 4160

Re: High Home Price-to-Income ratios - unhealthy?

Others I speak to in Seattle about housing seem to think that the prices can only continue to go up because of the growth, jobs, etc but based on my gut feeling I don't see how it can continue. As the article implies, it's all about the interest rates. Since most buyers are far more concerned with ...
by jeffyscott
Thu Jan 01, 2015 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: High Home Price-to-Income ratios - unhealthy?
Replies: 46
Views: 4881

Re: Poll: Total cost of 2-yr cell phone ownership?

That was the easiest poll to answer ever. The <$1000 cost is so far above what we spend on cell phones, there was no effort needed to determine the category.

Of course, we are oddballs in that our phones are used for making and receiving cellular calls and texts.
by jeffyscott
Wed Dec 31, 2014 12:47 pm
 
Forum: Personal Consumer Issues
Topic: Poll: Total cost of 2-yr cell phone ownership?
Replies: 54
Views: 3316
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