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Re: Safety net - VBMFX, PRPFX, VIPSX, VWINX, or Pimco

You need to decide what constitutes a "safety net", but in my personal opinion it's clear: all of the bond funds belong in one category, Permanent Portfolio and Wellesley belong in another. It's my opinion that any intermediate-term, high-grade bond fund will do the job of a "safety ...
by ps56k
Wed Mar 04, 2015 11:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Safety net - VBMFX, PRPFX, VIPSX, VWINX, or Pimco
Replies: 13
Views: 2342

Fiduciary duty - pending legislation

Jsut wondering about the pending legislation concerning the Fiduciary Duty of a "planner" - (who also happens to sell different types of funds) and if it comes to pass - how it will effect existing accounts and that kind of discussion.... ...."are these existing funds you have placed ...
by ps56k
Mon Mar 02, 2015 8:02 pm
 
Forum: Investing - Theory, News & General
Topic: Fiduciary duty - pending legislation
Replies: 7
Views: 747

Re: Questions to ask a living trust attorney during initial

thanks again everyone who responded to this thread. I had my first meeting with one of the attorneys today. I told the attorney to assume that I do not know anything and explain me about will, trust, etc. She took an entire hour explaining me a lot of things, including the difference between trust ...
by ps56k
Mon Mar 02, 2015 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Questions to ask a living trust attorney during initial meet
Replies: 26
Views: 1848

Re: tax dependent vs $3950 vs income

jebmke wrote:AOC can be refundable but not Lifetime Learning.

Not sure I know what you mean ?
by ps56k
Sat Feb 28, 2015 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: tax dependent vs $3950 vs income

...will be submitting his own tax return getting his own dependent deduction and standard deduction. Does he have any "dependents" or did you just mean... he's on his own, and gets the 1 excemption/deduction ? Just played with our TTax - pretty basic for him - $11,200 income from working ...
by ps56k
Sat Feb 28, 2015 1:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: Questions to ask a living trust attorney during initial

I was pointed to this thread from another discusssion I posted about some basic 101 estate planning. In reading thru this - there are lots of valid discussion points. In our case, I guess I'm looking for some starting questions that are even more basic - like not which type of screwdriver to use - b...
by ps56k
Sat Feb 28, 2015 10:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Questions to ask a living trust attorney during initial meet
Replies: 26
Views: 1848

Re: grad student - taxes on W-2

I was a graduate student for several years, earning a stipend plus a tuition scholarship. Students are exempt from FICA taxes (social security and Medicare). http://www.irs.gov/Charities-&-Non-Profits/Student-Exception-to-FICA-Tax Just to close the loop on this... He went and chatted with the P...
by ps56k
Fri Feb 27, 2015 7:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: grad student - taxes on W-2
Replies: 10
Views: 683

Re: tax dependent vs $3950 vs income

well.... since it appears our 24yr old son no longer gets checkmarked on our 1040 as our "dependent",
it will be interesting to see what pops up over on his 1040
when I un-check that he can be claimed by another taxpayer..
by ps56k
Fri Feb 27, 2015 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: Estate Planning 101 - how, when, where, etc

Or do multiple quotes. If your click the QUOTE button, you'll see that ALL the text is surrounded by some simple [xxx] tags... It's that simple - whatever is contained in the simple [xxx] and [/xxx] tags appears as the quote. Bold and other editing items are handled the same way.... it's like basic...
by ps56k
Fri Feb 27, 2015 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning 101 - how, when, where, etc
Replies: 13
Views: 1062

Re: Estate Planning 101 - how, when, where, etc

post by Carefreeap » Fri Feb 27, 2015 6:37 pm

BTW - you don't really need to click on the QUOTE
unless you are referencing something specific from a previous posting.
Just eats up screen space :)
by ps56k
Fri Feb 27, 2015 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning 101 - how, when, where, etc
Replies: 13
Views: 1062

Re: Estate Planning 101 - how, when, where, etc

well - my first "basic" step was to check all the bene's listed on all our accounts... Life Insurance --> wife Chase checking accts - none Ally CDs - none Fidelity IRA - each acct points bene to spouse Fidelity 403b - spouse Fidelity mutual funds - none Schwab brokerage stocks - none TRowe...
by ps56k
Fri Feb 27, 2015 6:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning 101 - how, when, where, etc
Replies: 13
Views: 1062

Estate Planning 101 - how, when, where, etc

In the last couple of years, we have had to deal with my wife's parents passing, and handle all the loose ends financially. I seem to recall trying to get her mom's estate under some number.... to avoid more taxes. All the siblings received 2 payouts - one from life insurance (no taxes), and one for...
by ps56k
Wed Feb 25, 2015 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning 101 - how, when, where, etc
Replies: 13
Views: 1062

Roth IRA vs 403(b) Plan

Our son is a grad student - and last year I setup a Vanguard Roth IRA for him.... and funded it :moneybag His univ also has a 403b plan avail, non-matching - but he hasn't setup anything as yet. So, was wondering, if you only have limited cash resources, which deferred account would you contribute t...
by ps56k
Tue Feb 17, 2015 6:24 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA vs 403(b) Plan
Replies: 2
Views: 233

Re: Cap Gains & Divs killed me this year

cheese_breath wrote:Not sure if we are supposed to feel sorry for you because your taxes are increasing,
or happy because your wealth is increasing. :confused

Me too -
by ps56k
Tue Feb 17, 2015 3:33 pm
 
Forum: Investing - Theory, News & General
Topic: Cap Gains & Divs killed me this year
Replies: 61
Views: 5908

Cap Gains & Divs killed me this year

As the market gets stronger - my taxable portfolio of Vanguard mutual funds are killing me in Cap Gains, Divs, etc... like my Vanguard Windsor, along with my selling of stocks over in my Schwab account - like selling a few shares of Apple. Since my Vanguard, TRowe, and Fidelity mutual fund accounts ...
by ps56k
Tue Feb 17, 2015 3:26 pm
 
Forum: Investing - Theory, News & General
Topic: Cap Gains & Divs killed me this year
Replies: 61
Views: 5908

Re: tax dependent vs $3950 vs income

jebmke wrote: This section of the code is designed to terrorize tax preparers during training.

Thanks - after reading thru the pubs of IRS info on this topic, yeah..... I can believe that.
by ps56k
Tue Feb 17, 2015 3:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: tax dependent vs $3950 vs income

It has been enlightening.... and TTax did not focus on exactly what the conflict was, just a general boilerplate pop-up.
It still seemed confusing when I was playing with the data - and said NO to his income being more than $3950;
the excemption/deduction came back - EVEN though he was still 24.
by ps56k
Tue Feb 17, 2015 2:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: grad student - taxes on W-2

DVMResident wrote:The UCs do not provide 1098-Ts. You can request a copy from here: https://www.1098t.com

tnx - but I don't think I would just enter our SSN or even student ID info into some strange website...
by ps56k
Mon Feb 16, 2015 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: grad student - taxes on W-2
Replies: 10
Views: 683

Re: grad student - taxes on W-2

he's at Caltech -
and the payroll statement has both line items... but interesting - if BOTH are considered as NON W-2 related activities.
When he was at UW/Madison, we did receive a 1098-T for his work there...

Grad Research FE -
Grad Teaching FE -
Misc Payment FE -
by ps56k
Mon Feb 16, 2015 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: grad student - taxes on W-2
Replies: 10
Views: 683

Re: grad student - taxes on W-2

dailybagel wrote:I was a graduate student for several years, earning a stipend plus a tuition scholarship.
Students are exempt from FICA taxes (social security and Medicare).
http://www.irs.gov/Charities-&-Non-Prof ... o-FICA-Tax

OK - thanks - I'll pass that along to him...
by ps56k
Mon Feb 16, 2015 5:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: grad student - taxes on W-2
Replies: 10
Views: 683

Re: tax dependent vs $3950 vs income

Publication 17 has some good charts that walk you thought the various tests. I'll take a look, not a big deal - just was weird that it seemed to be based upon earning more or less than the deduction amount of $3950. WOW - it looks like he fails the age test - he was 24 in 2014 - and the $3950 incom...
by ps56k
Mon Feb 16, 2015 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: convert time magazine subscription to digital ?

it totally depends on each magazine... ie - our TIME magazine print edition also "allows" you to get the digital version - we have it on our iPad and Kindle Fire.... for free - just needed to config with paper acct number. However - most other magazines "require" you to purchase ...
by ps56k
Mon Feb 16, 2015 4:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: convert time magazine subscription to digital ?
Replies: 2
Views: 308

grad student - taxes on W-2

Our son is a grad student in California - He has not received a W-2 from the school, but his grad student roommate has. He had some "issues" with the HR dept when he first arrived.... they lost copies of all his requested US docs.... birth cert, passport, etc - He was born in Illinois, and...
by ps56k
Mon Feb 16, 2015 4:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: grad student - taxes on W-2
Replies: 10
Views: 683

Re: should son cash EE savings bonds?

We also still have all our paper bonds -
and use the Savings Bond Wizard PC program to keep track of them,
along with their expiration dates, adjusted rates, and total interest earned.
by ps56k
Mon Feb 16, 2015 4:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: should son cash EE savings bonds?
Replies: 5
Views: 556

Re: tax dependent vs $3950 vs income

Sidney wrote:How old is he?
Didn't think that mattered - he is 24 -
and when I told TTax that he didn't earn over $3950, the exemption & deduction on my 1040 re-appeared...
by ps56k
Mon Feb 16, 2015 4:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: turbo-tax and vanguard

I didn't like it much since it was difficult to overwrite the data.. Don't understand why you need to "overwrite" any data - guessing you mean "override" ? but again, why ? I purchase and use the TurboTax desktop version - it's that valuable to me - along with Quicken. And of co...
by ps56k
Mon Feb 16, 2015 4:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: turbo-tax and vanguard
Replies: 7
Views: 838

Re: should son cash EE savings bonds?

happen to see your thread - I've been wondering the same thing - and our son is 24 - BTW - wonder how you are keeping track of the bonds ? Did you turn them in, and keep track online ? or - I'm using the Savings Bond Wizard - very primitive software program. http://www.treasurydirect.gov/indiv/tools...
by ps56k
Mon Feb 16, 2015 4:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: should son cash EE savings bonds?
Replies: 5
Views: 556

tax dependent vs $3950 vs income

Just started filling out some of our TurboTax info and ran across a wrinkle for us.... Our college son earned about $8200 last year, and now it turns out, as per TurboTax, this appears to negate our claiming him as a "deduction" since his income was over $3950. Great..... he earns $8200, w...
by ps56k
Mon Feb 16, 2015 4:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: tax dependent vs $3950 vs income
Replies: 18
Views: 1091

Re: Roth IRA and 401k limits ?

Thanks all -
The wording on that "chart" mentioned above,
gave me all sorts of "second thoughts" - and made me have doubts, and go on a wild goose chase for IRA "terminology".

I should have just felt ok, and walked away... from the keyboard.
by ps56k
Mon Jan 19, 2015 10:24 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and 401k limits ?
Replies: 17
Views: 999

Re: Roth IRA and 401k limits ?

ok - one more - Some of the articles use the term... Contribution Limit and "Ineligible" After looking at IRS Pub 590 - I think the key "word" that is missing from these articles is the implied wording "Ineligible deduction" ... RIGHT ? ie - if our (MFJ) MAGI is above $...
by ps56k
Mon Jan 19, 2015 7:12 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and 401k limits ?
Replies: 17
Views: 999

Re: Roth IRA and 401k limits ?

YIKES - I think I may have been filing badly.... As I read it now, for a Traditional IRA, the Married Filing Jointly limit is - $116k - seems so low... Does that mean that if your MAGI (approx Line 37) is above $116k, then you should NOT be allowed to contribute anything to a T-IRA ? We are above th...
by ps56k
Mon Jan 19, 2015 6:57 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and 401k limits ?
Replies: 17
Views: 999

Re: Roth IRA and 401k limits ?

Just looked at the 2014 IRA chart - and the Roth IRA Single - the limit is $129k - so he is WAY above that :) and the Traditional IRA Single AND covered by "retirement plan" - the limit is only $70k - so no joy here. SO - yup - guess both models of the IRA are "ineligible" for my...
by ps56k
Mon Jan 19, 2015 6:18 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and 401k limits ?
Replies: 17
Views: 999

Re: Roth IRA and 401k limits ?

My friend is usually excellent at discusssing things - just not this time :)
I will find out his specific viewpoint and info - and come back to clarify.
by ps56k
Mon Jan 19, 2015 5:51 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and 401k limits ?
Replies: 17
Views: 999

Roth IRA and 401k limits ?

A friend sent me this email as we were discusssing IRAs - and I'm confused..... or maybe it's just the way he worded it. I can't participate in a Roth, so I haven't paid a lot of attention. When you have a 401K, you can't do a pre-tax contribution to a conventional IRA, so my focus has not been on I...
by ps56k
Mon Jan 19, 2015 1:58 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and 401k limits ?
Replies: 17
Views: 999

Re: Convert T-IRA to Roth - in Tax steps ?

If you don't think you have time to get the rollover done before Dec 31, 2014, hold off on her conversions until 2015. One last note. Make sure she doesn't rollover 403b into Traditional IRA in the year that she does the conversion. The goal is to have ZERO balance her Traditional IRA accounts on D...
by ps56k
Sun Jan 18, 2015 7:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Re: TIAA-CREF and Vanguard funds - any extra fees ?

ARRRGGHHH - thanks, yeah, it all makes sense as different biz deals from each provider and institution. He may only be there 5 years, a PhD program out in sunny Caltech, while ZERO here in Chicago, and then we would have to ask - now what do we do with the 403(b) ? Guessing a rollover into an IRA......
by ps56k
Fri Jan 09, 2015 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF and Vanguard funds - any extra fees ?
Replies: 8
Views: 1045

TIAA-CREF and Vanguard funds - any extra fees ?

Our son has an opportunity to participate in a 403(b) that is managed by TIAA-CREF. They offer LOTS of different funds, including Vanguard Institutional Index - VINIX - So, are there any additional sales fees, loads, charges, etc - other than the usual ER for when buying Vanguard within TIAA-CREF. I...
by ps56k
Fri Jan 09, 2015 1:27 pm
 
Forum: Investing - Theory, News & General
Topic: TIAA-CREF and Vanguard funds - any extra fees ?
Replies: 8
Views: 1045

Re: International Stock Index VGTSX Potential

I was thinking about this same general topic, and was going to post a thread for 2015 - but found this old one.... so, just added. Basically, looking back over the past several years, it appears to be a seesaw geographic market. When we were slowly climbing out of our self inflected financial abyss,...
by ps56k
Wed Jan 07, 2015 11:45 pm
 
Forum: Investing - Theory, News & General
Topic: International Stock Index Potential
Replies: 23
Views: 3214

Re: Roth IRA and/or Vanguard 403(b) via TIAA-CREF

earnings - he's a grad student.... so "earnings" may be an issue :) and thanks - I'll find out what the "surcharge" is for using any mutual funds other than TIAA-CREF. Since I setup a Roth vs a Traditional IRA - no issues with deductible vs non-deductible - So, how does the 403(...
by ps56k
Tue Jan 06, 2015 4:46 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and/or Vanguard 403(b) via TIAA-CREF
Replies: 2
Views: 467

Roth IRA and/or Vanguard 403(b) via TIAA-CREF

Last year I setup a Vanguard Roth IRA for our son - and used the Vanguard target date 2050 fund. https://personal.vanguard.com/us/funds/snapshot?FundId=0699&FundIntExt=INT He has since started working out at Caltech. He just let me know they have a 403(b) plan.... http://www1.tiaa-cref.org/tcm/c...
by ps56k
Mon Jan 05, 2015 11:26 pm
 
Forum: Investing - Theory, News & General
Topic: Roth IRA and/or Vanguard 403(b) via TIAA-CREF
Replies: 2
Views: 467

Schwab "Fundamental" stock fund

In looking to add a Total Stock fund to our son's Schwab brokerage account, I was looking at these ETF's - Vanguard VTI and Schwab SCHB.... topic posted in another thread. While reading some articles, and looking at the Schwab "core" ETFs, I found one that I didn't know what it was - Schwa...
by ps56k
Mon Dec 29, 2014 4:37 pm
 
Forum: Investing - Theory, News & General
Topic: Schwab "Fundamental" stock fund
Replies: 3
Views: 604

Re: Total Stock ETF - Vanguard VTI vs Schwab SCHB

from some random article comparing ETF's to create a low cost portfolio.... --- VTI also includes broad, diversified equity exposure. The ETF tracks the CRSP U.S. Total Market Index and holds 3,765 component stocks. As the name suggests, the fund holds pretty much everything in the U.S. markets, wit...
by ps56k
Mon Dec 29, 2014 4:23 pm
 
Forum: Investing - Theory, News & General
Topic: Total Stock ETF - Vanguard VTI vs Schwab SCHB
Replies: 2
Views: 501

Total Stock ETF - Vanguard VTI vs Schwab SCHB

Looking to add a Total Stock ETF to our son's Schwab brokerage account.... since when he was a toddler. Since they both look and track almost mirror images, any comments on adding either Vanguard VTI or Schwab SCHB - both are Total/Broad Stock ETF's - BTW - Now that he has earned income, I setup a V...
by ps56k
Mon Dec 29, 2014 2:25 pm
 
Forum: Investing - Theory, News & General
Topic: Total Stock ETF - Vanguard VTI vs Schwab SCHB
Replies: 2
Views: 501

Re: Convert T-IRA to Roth - in Tax steps ?

just happen to see this article, and thought I would add it for reading....

How to Ignore Roth IRA Contribution Limits and Put Away Over $30,000 Per Year

http://www.fool.com/investing/general/2014/12/14/how-to-ignore-roth-ira-contribution-limits-and-put.aspx
by ps56k
Sun Dec 14, 2014 10:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Re: Convert T-IRA to Roth - in Tax steps ?

DSInvestor wrote:... your IRA picture will be simple, as everything is pre-tax without the need to track IRA basis and/or prorate IRA basis.
That's what I thought you were meaning.
Thanks for all the insights... Had not even thought about handling our IRA world until recently.
by ps56k
Sun Dec 14, 2014 1:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Re: Convert T-IRA to Roth - in Tax steps ?

...but with this, every dollar you convert will taxed at the current marginal rate... Yeah, no magic here... 1 - Convert all $270 and pay tax all at once PLUS will get pushed up into higher tax bracket. 2 - Convert "some" over a few years, to spread the pain, and NOT get pushed up. 3 - Do...
by ps56k
Sun Dec 14, 2014 12:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Re: Convert T-IRA to Roth - in Tax steps ?

If this is done, form 8606 will see the conversion of 60K and ZERO IRA balance as of DEC 31. The $60K conversion will be tax free. Once the IRA basis has been consumed by conversion, the IRA picture since everything will be pre-tax . OK - first, am I missing something/wording on that last sentence ...
by ps56k
Sun Dec 14, 2014 12:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Re: Convert T-IRA to Roth - in Tax steps ?

If your wife is still working and has access to an employer plan that a) has low expenses and b) accepts inbound rollovers, she can do a rollover from her Traditional IRAs into her workplace plan to isolate the IRA basis. She has another entire 2015-16 school year left, and has a 403b plan from the...
by ps56k
Sun Dec 14, 2014 1:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Re: Convert T-IRA to Roth - in Tax steps ?

tnx for the comments.... I was looking at the wife's IRA, since it has the non-zero Basis value, (and yes, tracked by our 8606 forms), to offset the current value for the Roth conversion. I think the wife's IRA conversion decision, and when/how - is easier - due to the non-zero Basis. Not sure how t...
by ps56k
Sat Dec 13, 2014 10:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276

Convert T-IRA to Roth - in Tax steps ?

We have a couple of very small T-IRAs at Fidelity - one for me and one for wife. We will not really need the money, just turned 60, very early retirement... as we have most in our taxable portfolios at Schwab, Fidelity, TRowe, and Vanguard. SO - would like to convert to Roth for a couple reasons... ...
by ps56k
Sat Dec 13, 2014 5:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Convert T-IRA to Roth - in Tax steps ?
Replies: 14
Views: 1276
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