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Re: "Spinning Off" my 20 Year Old Son

pshonore wrote: No EIC if you're under 25 and do not have a qualifying child.


http://www.irs.gov/Individuals/EITC-Inc ... aw-Updates

Yes, must be age 25, but no qualifying child is required - although the AGI limits to qualify without a child are very low...
by jj
Wed Mar 26, 2014 3:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 5995

Re: Need health insurance advice (medicaid/obamacare)

My point to her also was if she gets a serious illness without insurance she could bankrupt me even though I have a nice nest egg and good insurance. and also, I want her to be free to get the best if she gets a serious illness. +1 I have made it part of our IPS that our kids, when they are adults,...
by jj
Mon Mar 17, 2014 9:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need health insurance advice (medicaid/obamacare)
Replies: 16
Views: 1329

Taxes for Summer Internships - withholding calculator

http://www.irs.gov/Individuals/IRS-Withholding-Calculator Thanks to poster 2cents2 for posting this link in another thread. My son had a college internship last summer and yesterday I helped him do his taxes for the very first time. He had W2 income of around $11,500 which was 12 weeks salary, plus ...
by jj
Mon Mar 17, 2014 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Taxes for Summer Internships - withholding calculator
Replies: 0
Views: 78

Re: TAYLOR'S UPCOMING 90th BIRTHDAY

Taylor,

Many, Many Happy Returns!

jj
by jj
Thu Jan 23, 2014 4:12 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: Taylor's 90th Birthday
Replies: 272
Views: 12671

Re: Annuities not needed if you can fund a 30-year retiremen

You still need someone you trust to manage things even if its just to check that the annuity check is deposited. If things are set up so basic living expenses are covered by annuity+social security deposits each month, the couple or survivor can manage their expenses with fairly low risk if they ca...
by jj
Sat Jan 18, 2014 6:43 pm
 
Forum: Investing - Theory, News & General
Topic: Annuities not needed if you can fund a 30-year retirement
Replies: 26
Views: 2180

Re: AA at age 55 too safe? Seeking advice

My reaction to your predicament would be to accurately assess my situation. A first step would be to prepare a post using the forum guidelines as suggested by ofcmetz earlier. Rather than pulling back to a very small stock allocation my thought would be to save as much as I could and look to reduce ...
by jj
Sun Jan 12, 2014 9:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: AA at age 55 too safe? Seeking advice
Replies: 9
Views: 1416

Re: Rebalancing when money is in taxable account

I would model this situation for the next few years ahead if I were you. You say you are at 39% equity at the moment when your target is 25-30%. After another 6 years of withdrawing purely from the fixed income side of the portfolio, what does your asset allocation look like then, assuming for ease ...
by jj
Sun Jan 12, 2014 8:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rebalancing when money is in taxable account
Replies: 21
Views: 1640

Re: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST

I'll go for 1959.35

jj
by jj
Wed Jan 01, 2014 7:22 pm
 
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST
Replies: 525
Views: 10653

Re: Roth Conversion vs Tax Gain Harvest

3. If you're the over-saving "any withdrawal rate over 0.6% is not safe" type, then you need to be thinking about the dispersement of all of those millions that will be leftover when you pass on, and whether, by tax gain harvesting, you are increasing the cost basis of an investment whose...
by jj
Sat Dec 14, 2013 10:28 am
 
Forum: Investing - Theory, News & General
Topic: Roth Conversion vs Tax Gain Harvest
Replies: 15
Views: 1056

Re: Help with investing a windfall

Some good suggestions here so far. It appears as if your current 401K plan is good, the Vanguard TSM Institutional fund is listed but no expense ratios shown. Look into moving your rollover IRA into your current 401K. This will allow you to do Back Door Roth IRAs every year without a lot of taxes to...
by jj
Fri Oct 04, 2013 2:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with investing a windfall
Replies: 4
Views: 647

Re: 59 1/2 to Social Security critical tax plan execution ti

Yes, and you don't have to wait until 59 1/2 to do it.

The early retirement strategy of Roth IRA conversions and/or harvesting capital gains from taxable accounts at low tax brackets is available to you at any age.
by jj
Fri Sep 27, 2013 3:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: 59 1/2 to Social Security critical tax plan execution time?
Replies: 12
Views: 721

Re: Guaranteed Retirement Income

You don't give your age but if you are younger than 70 consider deferring your Social Security until then. Use your nest egg to fund your expenses until you get there. Deferring Social Security is a good way to cost effectively increase your guaranteed (cost of living adjusted) income in retirement....
by jj
Mon Sep 23, 2013 10:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Guaranteed Retirement Income
Replies: 16
Views: 1942

Re: Gift money to parent for Roth IRA

Good luck getting a medallion signature guarantee. Just went through the ordeal a few days ago.... Well, I know I can do it. I have banked at the same place for 15 years and I did it a few years ago. But, do I really want to go to the time and trouble of doing it? That's the problem. I think the in...
by jj
Sat Sep 14, 2013 8:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Gift money to parent for Roth IRA
Replies: 50
Views: 2488

Re: Gift money to parent for Roth IRA

Vanguard has made this extraordinarily easy if you enroll in their Voice Recognition program. You no longer need the gold medallion signature guarantee. All you have to do is call a representative after your voice has been recognized, tell them what you want to transfer, and to which account, and i...
by jj
Sat Sep 14, 2013 10:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Gift money to parent for Roth IRA
Replies: 50
Views: 2488

Re: Just applied for Social Security

Two topics spring to mind: Inflation - while $125k is a great retirement income, how much of that is COLA'd? If only the SS part has a cost of living increase component think about deferring the higher of your two SS amounts until age 70. You may also consider investing some of your income for futur...
by jj
Fri Sep 06, 2013 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Just applied for Social Security
Replies: 36
Views: 2948

Re: Forms FT F 90-22.1 and 8938 [US Tax Forms, Living in UK]

I was more paranoid back then. There's no move, that I know of, to remove SS from people who expatriate. Expatriating would make my taxes a lot simpler and increase my investment options. Also if my IRA to ROTH rollover strategy works, as a US NRA living in the UK all my retirement money would be t...
by jj
Sun Sep 01, 2013 9:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Forms FT F 90-22.1 and 8938 [US Tax Forms, Living in UK]
Replies: 16
Views: 756

Re: Help me prepare for Diminished Value Claim

This happened to me a couple of years ago on my 7-month-old car. Car hit in a parking lot when I was walking toward the car, saw it happen, damaged to the tune of $1000+ and, of course, even when it is repaired as well as it can be a Used Car appraiser will still know that a repair has been done and...
by jj
Sun Aug 18, 2013 10:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help me prepare for Diminished Value Claim
Replies: 4
Views: 547

Re: Simple 3 Fund plan for minor IRA

According to TurboTax, you need to be above the personal exemption amount: At What Income Does a Minor Have to File an Income Tax Return? A minor in this situation doesn't 'have' to file a federal income tax return but would be well advised to do so as they have likely paid too much in income taxes...
by jj
Sun Aug 18, 2013 3:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Simple 3 Fund plan for minor IRA
Replies: 7
Views: 307

Re: [Sad news - Pat Larimore]

Taylor,

With my deepest sympathy on the loss of your dear wife.

Kind regards, jj
by jj
Fri Jul 19, 2013 2:48 pm
 
Forum: Investing - Theory, News & General
Topic: [Sad news - Pat Larimore]
Replies: 225
Views: 15431

Re: More Retirees May Qualify for Mortgage Under New Rules

I thought this article might be helpful for those looking for or looking to refinance a mortgage after retirement. It explains how new Freddie Mac/Fannie Mae guidelines allow loan officers to factor retirement savings account balances when determining income. http://seattletimes.com/html/homesreale...
by jj
Tue May 28, 2013 11:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: More Retirees May Qualify for Mortgage Under New Rules
Replies: 1
Views: 514

Pen Fed Visa offering Chip Enabled card

A quick search didn't reveal this has been posted so I thought I would do it. I have the Pen Fed Visa Platinum cash Rewards card often talked about on this site. Pen Fed are now offering to convert their Visa cards to the style containing a 'chip' which will facilitate easier use internationally. Th...
by jj
Fri Feb 08, 2013 12:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pen Fed Visa offering Chip Enabled card
Replies: 1
Views: 408

Re: 2013 BOGLEHEAD CONTEST REGISTRATION

1507.07
by jj
Wed Jan 02, 2013 8:27 pm
 
Forum: Investing - Theory, News & General
Topic: 2013 BOGLEHEAD CONTEST REGISTRATION
Replies: 481
Views: 15104

Re: Dinner Guest Issues

HongKonger wrote:
And I concur that the lamb with no mint sauce is a faux pas.


Redcurrant jelly is de rigueur with lamb in my household.... :twisted:
by jj
Sun Dec 30, 2012 12:09 pm
 
Forum: Personal Consumer Issues
Topic: Dinner Guest Issues
Replies: 149
Views: 12074

Re: Retiring Vanguard CIO Gus Sauter Looks Back

Thank you for posting, I almost missed this article.

Happy retirement Gus Sauter!
by jj
Sat Dec 29, 2012 7:42 pm
 
Forum: Investing - Theory, News & General
Topic: Retiring Vanguard CIO Gus Sauter Looks Back
Replies: 13
Views: 1652

Re: Vanguard distributions considerably higher than estimate

ResNullius wrote:I don't know the answer, but one pure guess might be that some companies upped their dividends considerably within just the past couple weeks, some just the past couple days.


Agreed. This is almost certainly the reason, I just wanted to alert board readers.
by jj
Thu Dec 20, 2012 9:59 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard distributions considerably higher than estimates
Replies: 6
Views: 1014

Vanguard distributions considerably higher than estimates

As we are doing a Roth conversion this year I am keeping a close eye on distributions this December. As the first ones have come in it is interesting to see that some are considerably higher than the Vanguard estimates published at the beginning of this month. For example, VTSAX, the admiral version...
by jj
Thu Dec 20, 2012 9:44 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard distributions considerably higher than estimates
Replies: 6
Views: 1014

Re: Your experience-Vanguard Charitable Endowment Program?

I set up an account with the Vanguard Charitable Endowment Program two years ago. $25,000 was the about the amount I wanted to contribute so I did not view the $25,000 minimum as a problem. As our assets are mostly with Vanguard it made more sense to stick with their endowment program, although I di...
by jj
Thu Dec 13, 2012 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your experience-Vanguard Charitable Endowment Program?
Replies: 11
Views: 1088

Re: Please help with windfall and asset allocation

Can someone explain tilting as it applies to the house for me. Thanks, I think you are misreading titled as tilted . OP reports that the house ownership is titled as Joint with Right of Survivorship (sometimes abbreviated to JTWROS) which means should her husband predecease her, the house becomes h...
by jj
Sun Sep 09, 2012 7:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please help with windfall and asset allocation
Replies: 30
Views: 2280

Re: Where to put a windfall that I cannot risk now?

I was in a similar situation earlier this year. Moving from a semi-retired to fully retired position. Our asset allocation recently had been 45% stock to 55% fixed income/bond. With the cash injection from the sale of a second property I purchased -$20k in i bonds, and with the rest - 50% Total Bond...
by jj
Sun Sep 02, 2012 9:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to put a windfall that I cannot risk now?
Replies: 26
Views: 2945

Re: The Conversation Project

Thank you for posting about this nonnie. It is a very important part of the 'estate plan' which all of us should make.

jj
by jj
Sat Sep 01, 2012 4:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Conversation Project
Replies: 6
Views: 733

Re: Umbrella Insurance

One claimed that insurance companies sometimes check the assets of policy holders to make sure they actually have the assets the umbrella policy is insuring. For instance they're not going to cover you for $2M in liability if you don't have $2M in assets. I've never had that happen to me. Has anyon...
by jj
Sat Sep 01, 2012 4:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance
Replies: 50
Views: 3812

Re: Amica insurance -- Anybody members here??

with the great buzz about them I also priced them but found them significantly higher than Allstate... My experience was the exact opposite. We had been with Allstate since 1998 and had shopped around once or twice in the following ten years, not finding the savings worth the bother of changing ins...
by jj
Sat Aug 25, 2012 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Amica insurance -- Anybody members here??
Replies: 45
Views: 8891

Re: Medicare makes 65 de facto retirement age & early retire

5) Have health insurance premiums paid by one's employer as part of a pension / defined benefit package. Nice if you already have it. Probably not plausible for younger workers these days where pensions are an increasingly rare species, and where typical job tenures with a single employer probably ...
by jj
Sat Aug 25, 2012 9:55 am
 
Forum: Investing - Theory, News & General
Topic: Medicare makes 65 de facto retirement age & early retirement
Replies: 126
Views: 8189

Re: Bonds!!??

William4u wrote:Nisiprius' posts should be on the Boglehead bond wiki.


+1
by jj
Sat Aug 18, 2012 8:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Bonds!!??
Replies: 44
Views: 7986

Re: "Flagship Plus"

I have to confess that we were invited to a luncheon by Vanguard back in May, 2005 at the St. Regis Hotel, Houston. The previous year we had moved a portion of our assets to Vanguard and had a free financial plan done where we had disclosed further outside assets. It was a pleasant luncheon with a n...
by jj
Sun Apr 15, 2012 12:34 pm
 
Forum: Investing - Theory, News & General
Topic: "Flagship Plus"
Replies: 65
Views: 16277

Re: Poll: Average Health Costs during retirement

I am also curious about the results of this poll. Health costs after 65 are a very important budget item and it would be great to have some actual feedback from Bogleheads who are already in this phase of their retirement.

Thanks to all who contribute.
by jj
Fri Apr 13, 2012 8:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll: Average Health Costs during retirement
Replies: 35
Views: 2643

Re: Tax Form 8938 - Statement of Specified Foreign Fin'l Ass

The 8938 is a rather strange form cobbled together at the last minute by the IRS. If you try to complete it you realize it makes no sense, unlike the TDF 90-22.1 which is at least logical. By imposing a painful process of annual valuation of assets which are often not capable of valuation, Form 893...
by jj
Tue Apr 03, 2012 7:05 am
 
Forum: Investing - Help with Personal Investments
Topic: Tax Form 8938 - Statement of Specified Foreign Fin'l Assets
Replies: 18
Views: 2394

Re: Tax Form 8938 - Statement of Specified Foreign Fin'l Ass

Thank you for the heads up about the 8938. Somehow, I missed this one, not realizing that you had to fill out both the TDF 90-22.1 AND the 8396. If it's not hijacking this thread, I am wondering if someone knows whether the cash value in whole life insurances policies should be classified under Par...
by jj
Sun Apr 01, 2012 6:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax Form 8938 - Statement of Specified Foreign Fin'l Assets
Replies: 18
Views: 2394

Re: Any thoughts on the Brightstart Direct Sold Plan (529)?

We use it too. Beneficiary is still only 4 though, so time will tell. I agree with the other posters who give the Vanguard indexed funds portfolios a 'shout out'. Low expense ratios and low annual fee. We are steering well clear of the managed funds. I would think that living in IL it's a very good ...
by jj
Thu Feb 23, 2012 10:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Any thoughts on the Brightstart Direct Sold Plan (529)?
Replies: 8
Views: 509

Re: Medicare Taxes Affect on Portfolio Allocations

Rick Ferri wrote:I wrote an article that dovetails on this discussion. It includes a chart illustrating the 2013 dividend tax increase by income...wow!

This Decade's Biggest Investment Challenge

Rick Ferri


Thank you for that article Rick. We certainly live in interesting times....
by jj
Tue Feb 21, 2012 9:34 pm
 
Forum: Investing - Theory, News & General
Topic: Medicare Taxes Affect on Portfolio Allocations
Replies: 23
Views: 2027

Re: Post your asset allocation here:

Retired, age 58/53 Asset Allocation 40 Equity/60 Fixed (intend to keep this long term) 24% US Equities 16% Int'l Equities 10% i bonds and CD's (7 yr Pen Fed, 3.25% and 6%) 31% Muni bond funds (mostly Ltd term, some intermediate, long and HY) 17% Taxable bond funds (All in trad IRA, slowly converting...
by jj
Mon Feb 13, 2012 9:41 pm
 
Forum: Investing - Theory, News & General
Topic: Post your asset allocation here:
Replies: 136
Views: 11074

Re: Portfolio review that's long overdue

Yes, in your example, you are right that a 50% decline in markets would hit my 90/10 portfolio much harder than a 70/30 portfolio. But a 50% increase in markets would also benefit my 90/10 portfolio much more than a 70/30 portfolio. And given the current historic low interest rates, it seems a lot ...
by jj
Tue Jan 10, 2012 1:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio review that's long overdue - need more bonds
Replies: 14
Views: 1221

Re: Retire or plod on?

I just wanted to provide closure on my post from almost a year ago. I did indeed retire on 31 December. But the retirement will be a bit of a glide down as I will shortly take up a part time position at a local university. So far the toughest part of being retired has been deciding which days I wil...
by jj
Sat Jan 07, 2012 8:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Retire or plod on?
Replies: 62
Views: 10989

Re: REGISTERATION FOR 2012 BOGLEHEAD CONTEST

1373.22 (same as last year's guess)

A Happy New Year to all!
by jj
Sun Jan 01, 2012 11:11 am
 
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR 2012 BOGLEHEAD CONTEST
Replies: 408
Views: 11772

Re: Crazy expensive umbrella insurance !!

Our Umbrella insurance premium is approaching $1000/yr as we have young drivers and four cars total, so not everyone pays $200....

I would shop around if I were you.

jj
by jj
Wed Dec 07, 2011 11:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Crazy expensive umbrella insurance !!
Replies: 42
Views: 2884

Re: Tapping 529 Plan

I hate to disappoint you but my understanding of 529 plans is that a computer would not count as a 'qualified' expense. Quoting the verbiage from the 529 plan we are contributing to for my child it says: " Qualified expenses include tuition, fees, and the cost of books, supplies and equipment r...
by jj
Wed Dec 07, 2011 8:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tapping 529 Plan
Replies: 23
Views: 1108

Re: Griftopia

Thanks for the link to the book. It'll make interesting holiday reading....

(I'll make no comment so as not to contravene any forum rules) jj
by jj
Tue Nov 29, 2011 8:42 pm
 
Forum: Investing - Theory, News & General
Topic: Griftopia
Replies: 16
Views: 1415

Re: Free Money at ING today

snyder66 wrote:I opened a kids account for my son and got $27. Not bad...


me too!

jj
by jj
Sat Nov 26, 2011 8:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Free Money at ING today
Replies: 14
Views: 2012

Amazon link has disappeared

Since the recent upgrade the Amazon link has disappeared from the top right-hand corner of the screen. Is it somewhere else? If so, please direct me to it.

Thanks
by jj
Sun Oct 23, 2011 9:04 am
 
Forum: Forum Issues and Administration
Topic: Amazon link has disappeared
Replies: 2
Views: 970

I thought I would resurrect this thread as we are in a very similar situation with our 7 month-old car. An older lady drove into our parked car - I was standing about 30 yards away when it happened and heard the impact and then ran across. I was very keen to ensure that she didn't drive away! We are...
by jj
Sun Sep 04, 2011 8:43 am
 
Forum: Personal Consumer Issues
Topic: Accident with (almost) brand new car
Replies: 20
Views: 2975
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