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Re: ACH transfers

Many banks and credit unions will "pull" (by ACH) from another bank or credit union account - either on a one-time basis or on a regular schedule. One example of a "pull" ACH is commonly done if you are late on a loan payment (that you normally pay by check) and you are contacte...
by scrabbler1
Sat Aug 30, 2014 1:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACH transfers
Replies: 14
Views: 984

Re: Trying to understand the 1040 Tax Table

LOL Rusty, I use Lotus2000 for many of my spreadsheets. I do know how to use Excel, too, I just prefer Lotus because I used that in my formative years of my working career. The formula I posted is a Lotus one. As for bunching, there is a downside to bunching, as I have figured out from my handy-dand...
by scrabbler1
Thu Aug 28, 2014 9:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trying to understand the 1040 Tax Table
Replies: 36
Views: 2276

Re: Trying to understand the 1040 Tax Table

I have a homemade spreadsheet which mimics a tax form including the income taxed which come from the tax table. I am able to convert the income amount to the midpoint of the $50 range then calculate the taxes due based on that adjusted income amount. That amount matches the tax shown in the tax tab...
by scrabbler1
Thu Aug 28, 2014 2:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trying to understand the 1040 Tax Table
Replies: 36
Views: 2276

Re: Mortgages and financial freedom

Paying off my mortgage back in 1998 was a key step toward my early retirement which began in 2008. I had a 1-year ARM whose interest rate had crept up to just over 8% after I refinanced it at 6% in 1992. I used some of the gains in the booming stock market to pay it off. With my expenses greatly low...
by scrabbler1
Thu Aug 28, 2014 12:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgages and financial freedom
Replies: 111
Views: 6676

Re: Guidance on car insurance

I worked in the actuarial field for 23 years, specializing in personal auto insurance. I can tell you that the cost for buying $50k for Property Damage (PD) Liability is not a lot higher than for $20k or $25k, so you should definitely up the PD limit. And No-Fault, or PIP, depending on your state, w...
by scrabbler1
Thu Aug 28, 2014 12:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Guidance on car insurance
Replies: 9
Views: 697

Re: Trying to understand the 1040 Tax Table

Faith20879, if you want to see how the tax brackets work their way into the tax tables, look at the tax liabilities for two income amounts $1,000 apart. Make sure the two income amounts do not straddle a tax bracket's end point. If they are in the 15% bracket, for example, then the tax amounts will ...
by scrabbler1
Mon Aug 25, 2014 11:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trying to understand the 1040 Tax Table
Replies: 36
Views: 2276

Re: AA Between Taxable and Retirement Accounts For Early Ret

At 51, I am an early retiree for the last 6 years. My rollover IRA was at 55/45 (just like it was in my 401k in my working years) until last year when I trimmed it to 50/50. My taxable account is 65/35 in favor of bonds because I use the bond fund's income to pay my expenses. I always have viewed th...
by scrabbler1
Sun Aug 24, 2014 12:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: AA Between Taxable and Retirement Accounts For Early Retiree
Replies: 15
Views: 1537

Re: Capital Gain Tax on Muni Bond Funds

InvestorWD, sometimes these bond funds pay capital gain distributions which are usually taxable. They may be long-term or short-term but they are not frequent and usually pretty small. These come about from the fund's manager selling the underlying bonds in the fund at a gain. They have to be report...
by scrabbler1
Sat Aug 23, 2014 7:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Capital Gain Tax on Muni Bond Funds
Replies: 15
Views: 1131

Re: Do you take all of your allowed paid vacation time?

Although I am retired now and answered the poll that way, here is how I handled my paid vacation time over the years I worked. Early on, I had only 2 weeks plus a few personal days but I used nearly all of them in one shot because I went out of town for about 2 weeks. When I hit the 5-year mark and ...
by scrabbler1
Fri Aug 22, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you take all of your allowed paid vacation time?
Replies: 88
Views: 5623

Re: Do you tip on the tax?

I don't tip on the tax. I will tip around 20%, a little less if the service was subpar but still acceptable (see below) and a little more if the service was better than I expected. What I will do if I had a problem with the service is to go to the restaurant's website (if the place has one, which is...
by scrabbler1
Fri Aug 22, 2014 1:50 pm
 
Forum: Personal Consumer Issues
Topic: Do you tip on the tax? [Restaurants]
Replies: 124
Views: 4977

Re: [live off dividends?] How the rich stay/get richer??

As an early retiree the last 6 years, I have been living off dividends. Most of my bond fund dividends are used to pay my bills but excess bond fund dividends get reinvested. My stock fund dividends get reinvested as do any cap gain distributions from all my funds. I also have unrealized cap gains t...
by scrabbler1
Wed Aug 20, 2014 9:19 am
 
Forum: Investing - Theory, News & General
Topic: [live off dividends?] How the rich stay/get richer??
Replies: 62
Views: 4927

Re: Reducing time spent paying bills

I use several methods to pay my bills, depending on what method(s) the biller allows, the amount of the bill, how frequently I get billed, and how much faith I have in the biller to process the payment correctly. For the common, low-amount bills such as electric, cable TV, and phone, I let the bille...
by scrabbler1
Wed Aug 20, 2014 8:27 am
 
Forum: Personal Consumer Issues
Topic: Reducing time spent paying bills
Replies: 25
Views: 1727

Re: What was Underestimated\Overestimated in Retirement

I retired 6 years ago at age 45. The only expense which has jumped around a lot has been health insurance premiums. But thanks to the ACA I now have a decent policy again at an affordable price. Income taxes have spiked only when I had an income spike (from a large short-term cap gains distribution ...
by scrabbler1
Sun Aug 17, 2014 9:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was Underestimated\Overestimated in Retirement
Replies: 48
Views: 4663

Re: Windows 7 PC?

Download classic shell start button, its a small program that returns normal desktop functionality to Windows 8. I installed this on my friend's PC which has Windows 8. He bought his current PC back in late 2012, opting for the newer Win 8 over Win 7 (which I have on my PC I bought in early 2012). ...
by scrabbler1
Sat Aug 16, 2014 8:32 am
 
Forum: Personal Consumer Issues
Topic: Windows 7 PC?
Replies: 49
Views: 2420

Re: Why is Bank of America so hated?

I have been a BofA customer since they took over from Fleet about 9 or 10 years ago. While they have chipped away at some things I used to get for free such as canceled check images in my monthly statement, they got me started with their easy online banking a few years ago and I got a cash-back CC f...
by scrabbler1
Wed Aug 13, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why is Bank of America so hated?
Replies: 43
Views: 2419

Re: Dealership wants to buyback my car

I have been receiving these "great offer" letters from my Toyota dealer for several years trying to buy back my 2007 Corolla. They go into the trash (along with most of the mail I get).
by scrabbler1
Mon Aug 11, 2014 5:52 pm
 
Forum: Personal Consumer Issues
Topic: Dealership wants to buyback my car
Replies: 32
Views: 3417

Re: Emergency Fund - What to do?

I have my second tier EF in an intermediate-term muni bond fund. I keep only about a $750 surplus or cushion (over the minimum balance needed to avoid monthly fees) in my first-tier EF, my local bank's checking account. I don't like having a lot of money in an account earning nearly zilch so I like ...
by scrabbler1
Mon Aug 11, 2014 3:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency Fund - What to do?
Replies: 8
Views: 967

Re: Who or what inspired you and your investing approach?

When I was a kid in the 1960s and 1970s, and an adult in the 1980s and 1990s, I had a few people who got me started in the direction of saving and investing. My uncle bought me one share of Ford Motor Company so every 3 months I got a small dividend check in the mail. I would also look up in the Sun...
by scrabbler1
Thu Aug 07, 2014 8:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Who or what inspired you and your investing approach?
Replies: 93
Views: 4311

Re: Attitudes toward inheritances.

I am FI and my brother, while not FI, is well off. Once in a while, my dad jokes to us that "there goes more of your inheritance" when he has to spend some money on some costly dental work. We just laugh along with him. What's FI? FI=Financially Independent, sometimes part of the FIRE acr...
by scrabbler1
Wed Aug 06, 2014 8:38 am
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 113
Views: 10214

Re: Attitudes toward inheritances.

I am FI and my brother, while not FI, is well off.

Once in a while, my dad jokes to us that "there goes more of your inheritance" when he has to spend some money on some costly dental work. We just laugh along with him.
by scrabbler1
Tue Aug 05, 2014 11:54 pm
 
Forum: Personal Consumer Issues
Topic: Attitudes toward inheritances.
Replies: 113
Views: 10214

Re: average American eats out 203 times per year

As an early retiree I rarely eat out any more. I cook most of my meals and my ladyfriend also cooks for us. That leaves us going out to eat a few times a year. I go out to eat with my dad (my mom is deceased) a few times a year/ About once a month I go to a local pizza joint for a few slices for lun...
by scrabbler1
Tue Aug 05, 2014 11:44 pm
 
Forum: Personal Consumer Issues
Topic: average American eats out 203 times per year
Replies: 105
Views: 6428

Re: Riding the Rails--my Amtrak trip

At the moment, I'm on the Amtrak Lake Shore Ltd., having just left Erie, PA on our way to Chicago. The train is now 5 hours late, and we're stuck behind a stalled freight train. (A conductor just sat down next to me and asked if I'd like to take his job, please!) But what else is new? I'll get ther...
by scrabbler1
Tue Aug 05, 2014 9:47 am
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 78
Views: 9171

Re: High School Reunions--Have you attended?

Let me add that although I did not like high school and despised nearly all of my classmates, I did like many of my teachers and other staff members. In the first 20 years after I finished HS, I went back to visit the school from time to time to see the dwindling number of teachers and staff who wer...
by scrabbler1
Sun Aug 03, 2014 9:23 pm
 
Forum: Personal Consumer Issues
Topic: High School Reunions--Have you attended?
Replies: 79
Views: 5082

Re: High School Reunions--Have you attended?

As one who was the teacner's pet and got picked on most of the time I was in HS, I had no real interest in seeing those people again. I had one good friend from HS and we stayed in touch for a while before fading out of touch. Another friend in HS I nearly reconnected with a few years later because ...
by scrabbler1
Sun Aug 03, 2014 6:01 pm
 
Forum: Personal Consumer Issues
Topic: High School Reunions--Have you attended?
Replies: 79
Views: 5082

Re: How Much Did You Lose Today?

I lost 2% in my equity funds but pretty much broke even on the bond funds which are a little more than 50% of my holdings. Hence, I answered 1%-2%.
by scrabbler1
Thu Jul 31, 2014 10:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: How Much Did You Lose Today?
Replies: 166
Views: 14173

Re: state income tax withheld from IRA distribution?

With my friend's Fidelity (Inherited) IRA, we use the RMD to keep him in one of those safe harbors because he has a lot of investment income with no federal or state income taxes withheld. By having state income taxes withheld, we not only solve his safe harbor issue on the state side but we can al...
by scrabbler1
Thu Jul 31, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1902

Re: state income tax withheld from IRA distribution?

As we have discussed in other threads over the years, withholding is the best way to remain in that "safe harbor" to avoid penalties for underwithholding. With my friend's Fidelity (Inherited) IRA, we use the RMD to keep him in one of those safe harbors because he has a lot of investment i...
by scrabbler1
Thu Jul 31, 2014 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1902

Re: How old are you?

So based on this admittedly unscientific poll, this forum is about half Millennials/Gen X, 40% Boomers, and 10% Silent Generation, but it depends on if you consider people born from 1959-63 (age 51-55 now) to be Boomers. Ignoring "official definitions" of generations, is the lead singer o...
by scrabbler1
Thu Jul 31, 2014 1:40 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: How old are you?
Replies: 77
Views: 6599

Re: state income tax withheld from IRA distribution?

My friend has an inherited IRA with Fidelity and can choose how much, if any, he wants to have withhheld in state (NY) and federal income taxes from his RMD. And what would Vanguard do? Which rule would apply to your friend? Does Vanguard have a different rule from Fidelity for residents of NY? Sor...
by scrabbler1
Wed Jul 30, 2014 12:26 am
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1902

Re: state income tax withheld from IRA distribution?

My friend has an inherited IRA with Fidelity and can choose how much, if any, he wants to have withhheld in state (NY) and federal income taxes from his RMD.
by scrabbler1
Tue Jul 29, 2014 11:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: state income tax withheld from IRA distribution?
Replies: 44
Views: 1902

Re: Where to keep "emergency fund" and how much to keep in b

My monthly expenses are about $1,800 per month. I keep about $750 extra in my local bank's checking account (beyond the minimum balance requirements to avoid fees) as a first-tier emergency fund to cover me for smaller, unforeseen expenses. If I have to write a personal check or get some quick cash,...
by scrabbler1
Tue Jul 29, 2014 8:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to keep "emergency fund" and how much to keep in bank?
Replies: 19
Views: 2764

Re: Where to place 2nd tier emergency fund

For many years I have been using an intermediate-term muni bond fund as my second tier EF. It is tax-free at the federal level (except for the rare cap gain distribution and if I make a redemption at a profit) and mostly taxable at the state level. But it earns 2-2.5% (annualized) dividends every mo...
by scrabbler1
Mon Jul 28, 2014 1:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to place 2nd tier emergency fund
Replies: 16
Views: 1577

Re: Riding the Rails--my Amtrak trip

My ladyfriend, who paid for our Amtrak round-trip to Indy a few weeks ago, received an email with a link to an Amtrak online survey. Because she had used my email address when she booked her ticket on line (my printer is more reliable than hers), the survey email came to me. I asked her if she wante...
by scrabbler1
Sat Jul 26, 2014 1:32 pm
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 78
Views: 9171

Re: Reaching Severe Burnout - Can I Scale Back Career?

Twice I asked for and was able to reduce the number of weekly hours worked. The first time was back in early 2001 when I had become burnt out mainly from the commute. My company had just relocated from lower Manhattan to Jersey City, New Jersey, making an already barely tolerable commute into an int...
by scrabbler1
Sat Jul 26, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reaching Severe Burnout - Can I Scale Back Career?
Replies: 50
Views: 6044

Re: Do you have State Farm Emergency Road Service?

I haven't used mine, but my ladyfriend used hers a few times in 2011-2010 before her car finally died. Our mechanic would have her car towed from where it had broken down to his repair shop (close by) then work on it. She would make a copy of the work order which included the towing charge shown sep...
by scrabbler1
Fri Jul 25, 2014 1:52 pm
 
Forum: Personal Consumer Issues
Topic: Do you have State Farm Emergency Road Service?
Replies: 4
Views: 471

Re: Riding the Rails--my Amtrak trip

My ladyfriend and I just got back to NY on the Cardinal just over a week ago. We went from NYC to Indy then used other means of transit to get to her home town of Louisville. We left on Friday morning, June 27th and made it to Indy only about 15 minutes late, just after 5 AM. We then rented a car an...
by scrabbler1
Wed Jul 23, 2014 8:48 pm
 
Forum: Personal Consumer Issues
Topic: Riding the Rails--my Amtrak trip
Replies: 78
Views: 9171

Re: how often do you look at your account

Once a day, M-F. I log my account balances once a month into a spreadsheet. If I make a transaction in my brokerage account or IRA, I will take a second peek to update my fund spreadsheets.
by scrabbler1
Mon Jul 21, 2014 2:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: how often do you look at your account
Replies: 70
Views: 3662

Re: Hw many credit cards to own?

I own 2. One is my primary card, a cashback card I opened only a year ago, and a back-up card which used to be my primary card. I dont use the CC often so this is just fine with me. I have no debts and haven't applied for any loans in more than 20 years.
by scrabbler1
Mon Jul 21, 2014 2:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Hw many credit cards to own?
Replies: 121
Views: 8853

Re: If you own a car, do you have a car payment?

Tycoon wrote:Three cars no payments.


Same here. I bought my first car in 1986 just before my 23rd birthday, paid with cash. I traded it it toward my second car (used) in 1992, paid with cash. And I traded that car in 2007 for a new one, also with cash.
by scrabbler1
Sat Jul 19, 2014 10:52 am
 
Forum: Personal Consumer Issues
Topic: If you own a car, do you have a car payment?
Replies: 112
Views: 7407

Re: Directing asset allocation for early retirement

Jjunk, I am 51 and retired nearly 6 years ago. I have different AAs for my taxable portfolio (the one I living off now) and my tax-deferred portfolio (my IRA) which I won't be touching until I turn ~59. I am about 63/37 in favor of bonds in the taxable account because I have set up a monthly dividen...
by scrabbler1
Thu Jul 17, 2014 12:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Directing asset allocation for early retirement
Replies: 14
Views: 1989

Re: Have you quit your job because of your boss?

Generalizing a bit, this is one of the disadvantages of pensions versus 401k's. The pension has made you a prisoner of this employer until it is fully vested. A 401k is your money and you take it with you when you leave, regardless of when you leave. On the other hand the pension payout might be mo...
by scrabbler1
Tue Jul 15, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Have you quit your job because of your boss?
Replies: 66
Views: 7404

Re: Have you quit your job because of your boss?

No. I had good bosses most of the time. Some were a lot better than good, some not quite a sgood. I held the same job from ollege for 23 years until I (early) retired in 2008. My problems were with corporate policy and the decisions by the bigwigs.
by scrabbler1
Mon Jul 14, 2014 7:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you quit your job because of your boss?
Replies: 66
Views: 7404

Re: What after-tax income could you live on today?

Single. Mortgage paid off. I could get by on $20k-$25k after taxes. I've kept my expenses low while working. Now that I am retired I know I can live on that amount, but I don't have to. I'm already have meals out more often. This is me, too. Single, 51, no kids, no debts, retired. The only uncertai...
by scrabbler1
Sat Jul 12, 2014 9:35 am
 
Forum: Personal Finance (Not Investing)
Topic: What after-tax income could you live on today?
Replies: 48
Views: 5139

Re: Why do companies put up with high expense 401k choices?

I have seen a mixed bag of fund choices with varying expense ratios in retirement savings plans. At the end of my working days in the last decade, my former employer switched 401k administrators a few times. When they switched to Principal Financial Group around 2004, we could no longer keep our mon...
by scrabbler1
Thu Jul 10, 2014 11:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Why do companies put up with high expense 401k choices?
Replies: 15
Views: 1539

Re: List of Worst financial advice (what not to do):

Oh one more, I received a call from a Financial Planner who wanted to meet with me. I figured, if I could learn just one thing , it would be worth my time. He was about 25 years old. I was 47. We discussed my Funds at Vanguard. He then commented "you have quite abit of money in Index Funds&quo...
by scrabbler1
Wed Jul 09, 2014 9:03 am
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16258

Re: List of Worst financial advice (what not to do):

Two pieces of advice my friend received in the last few years, and thankfully (and with my strong prodding) he did not take: (1) Back in 2010 and into early 2011, his broker/friend told him, as he had often had, to "Get out of bond funds because interest rates are going to rise and their value ...
by scrabbler1
Wed Jul 09, 2014 8:49 am
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16258

Re: How to w/d from taxable until SS/RMD time gets here?

This bond fund's dividends slightly exceed my expenses on an annual basis so any surplus is plowed back into the bond fund. Furthermore, any cap gain distributions, which are erratic, are automatically reinvested so I add to my total share count and my monthly dividends that way... My AA in the tax...
by scrabbler1
Tue Jul 08, 2014 11:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to w/d from taxable until SS/RMD time gets here?
Replies: 29
Views: 2120

Re: How many veteran investor have LARGE MAJORITY in three-f

My IRA has 2 funds. My taxable accounts have 4 funds but 2 of them, with 2 different institutions, are somewhat similar (both muni bond funds but of different terms and one is national while the other is home-state), so you could say I have only "3" funds there.
by scrabbler1
Tue Jul 08, 2014 11:36 pm
 
Forum: Investing - Theory, News & General
Topic: How many veteran investor have LARGE MAJORITY in three-fund?
Replies: 56
Views: 3931

Re: How to w/d from taxable until SS/RMD time gets here?

Bolderboy, I have been an early retiree (age 51) for 5 1/2 years and use the monthly dividends from a bond fund to pay for my expenses. Most of the rebalancing I do is in my IRA although I have made a rare rebalancing move in my taxable accounts which are more bond-weighted than the IRA (which is n...
by scrabbler1
Tue Jul 08, 2014 8:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to w/d from taxable until SS/RMD time gets here?
Replies: 29
Views: 2120

Re: List of Worst financial advice (what not to do):

Don't buy a time share. It's a money pit.
by scrabbler1
Tue Jul 08, 2014 7:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16258
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