Search found 244 matches

by 2cents2
Fri Dec 15, 2017 9:16 am
Forum: Investing - Help with Personal Investments
Topic: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?
Replies: 14
Views: 1339

Re: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?

2 part thread. Part 1, is there anybody out there who would make a case NOT to use a mega-backdoor roth? This is assuming that you've maxed your normal 401k and normal Roth IRA. The only thing that I could come up with is-- I don't want to spend money put into the Roth (even though I am over 59.5 a...
by 2cents2
Fri Dec 15, 2017 8:49 am
Forum: Investing - Help with Personal Investments
Topic: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?
Replies: 14
Views: 1339

Re: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?

However I'd still like to know on the off-chance my company allows it. DH just started working for a company that allows after tax contributions (and met the criteria outlined in crumbone's post). I also wondered about the steps needed to accomplish this. Firstly, the contribution section has sever...
by 2cents2
Fri Dec 15, 2017 8:21 am
Forum: Investing - Help with Personal Investments
Topic: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?
Replies: 14
Views: 1339

Re: Questions about mega-backdoor Roth, and is there any reason NOT to do a mega-backdoor Roth?

There are some requirements for a Mega-Backdoor Roth that unfortunately most employers do not meet: Employee accepts after- tax (not Roth!) 401k contributions (this greatly complicates plan administration and with the exception of some very large corporations, most employers don't offer it.) Employ...
by 2cents2
Fri Dec 15, 2017 7:50 am
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 117
Views: 6430

Re: How much did you contribute to your 401k in 2017?

seawolf21 wrote:
Fri Dec 15, 2017 12:12 am
A lot of people posted they contributed max. What does that even mean? $18k? $53k?
Wouldn't it be 54K for under 50 and 60K for over 50?
by 2cents2
Sat Nov 18, 2017 8:09 am
Forum: Investing - Theory, News & General
Topic: TSP Modernization Act Signed Into Law
Replies: 22
Views: 4137

Re: TSP Modernization Act Signed Into Law

djmbob wrote:
Fri Nov 17, 2017 9:47 pm

Next we we need to be able to make conversions from Traditional TSP to Roth TSP.
I wonder if it will be possible to do a partial withdrawal and convert to Roth?
by 2cents2
Fri Nov 10, 2017 5:37 am
Forum: Investing - Help with Personal Investments
Topic: In 40s and no retirement [US ex-pat in Brazil]
Replies: 28
Views: 3193

Re: In 40s and no retirement [US ex-pat in Brazil]

I don't know the intricacies of taxes in OPs situation, but I wonder if OP might be eligible for the savers credit ?
https://www.irs.gov/retirement-plans/pl ... ers-credit
by 2cents2
Tue Oct 03, 2017 4:21 am
Forum: Personal Finance (Not Investing)
Topic: Federal Employee looking to move to Private sector..!
Replies: 34
Views: 2422

Re: Federal Employee looking to move to Private sector..!

If you do elect to leave, make sure you are vested in the TSP so you don't lose your match.(it is 3 years for most Feds). When you reach the 3 year point you will earn more annual leave with your government job. Most companies are not as generous with paid time off (PTO). Many companies do not have ...
by 2cents2
Tue Jul 18, 2017 6:41 pm
Forum: Personal Consumer Issues
Topic: Senior Lifetime National Parks Pass Fee Going Up
Replies: 77
Views: 11317

Re: Senior Lifetime National Parks Pass Fee Going Up

I was just visiting the Gateway Arch website and I found the following posted about the Senior Pass: https://www.nps.gov/planyourvisit/passes.htm#CP_JUMP_5088578 "The price of the lifetime Senior Pass will increase to $80 on August 28, 2017 . A new $20 annual Senior Pass will become available at the...
by 2cents2
Thu Jul 13, 2017 7:56 am
Forum: Personal Consumer Issues
Topic: DNA question
Replies: 6
Views: 811

Re: DNA question

Several years ago, I sent a DNA sample (spit) to 23andme. It shows my ancestry generally consistent with what I know of my parents and grandparents. It shows 3-5 th cousins around the world. No close connection identified. If my brother (I am male) were to also use 23andme, would there (or might th...
by 2cents2
Thu Jul 06, 2017 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Chase hotel credit cards / IHG Anniversary Free Night
Replies: 38
Views: 5361

Re: Chase hotel credit cards / IHG Anniversary Free Night

I deleted what I had posted ref the IHG free night above. I mentioned that I had trouble using it in the past (it may be ahem "operator error"). So, here is my latest experience. We tried to use it for a Holiday Inn in Fayetteville, NC for the night of the 1st of July. The free night for the Holiday...
by 2cents2
Tue Jun 27, 2017 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Military Retirement; "Should I stay or should I go now?"
Replies: 61
Views: 11992

Re: Military Retirement; "Should I stay or should I go now?"

Keep in mind there are major changes coming to TRICARE...The National Defense Authorization Act -(signed into law in Dec 2016) combines TRICARE Standard and Extra into the new TRICARE Select which requires enrollment fee of $300 for all retired beginning January 1, 2018. Still a way better deal tha...
by 2cents2
Mon Jun 19, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: inherited IRA in community property state requires spousal consent for non-spousal beneficiary
Replies: 32
Views: 2654

Re: inherited IRA in community property state requires spousal consent for non-spousal beneficiary

The assets may be separate but if you die your spouse is the default beneficiary. If you are married, your spouse has to sign off to list a different beneficiary, eg if you want the assets to transfer directly to your kids. Seems reasonable. What's the problem? What if this is a 2nd wife/husband si...
by 2cents2
Mon Jun 19, 2017 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Negotiating a House Using Seller's Agent (opinions wanted)
Replies: 101
Views: 6561

Re: Negotiating a House Using Seller's Agent (opinions wanted)

I think the OP and the seller are too far apart to come to an agreement. If it were me, I would continue to look for another house that met my requirements and not get emotionally tied to a house that might be overpriced. If it is a buyers market, then there should be plenty of inventory from which ...
by 2cents2
Thu Jun 08, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Chase hotel credit cards / IHG Anniversary Free Night
Replies: 38
Views: 5361

Re: Chase hotel credit cards / IHG Anniversary Free Night

deleted my IHG info. I am on the fence with Marriott. The anniversary night (the one that is earned after a year) is cat 5 or below. But, I have found most of my preferred properties where we have used our free night in the past have been upgraded to cat 6. :oops: So, we struggle to use the "free" n...
by 2cents2
Thu May 04, 2017 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Question
Replies: 5
Views: 557

Re: FSA Question

I would double-check with HR to verify. The benefits provider should be able to give you a definitive answer, in writing, as to the current regs. The IRS publication you cited does say that it is per employer, though, and not per calendar year. I tried to ask the benefits person, but when I told he...
by 2cents2
Thu May 04, 2017 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Question
Replies: 5
Views: 557

Re: FSA Question

Bump...
by 2cents2
Thu May 04, 2017 6:45 am
Forum: Personal Finance (Not Investing)
Topic: FSA Question
Replies: 5
Views: 557

FSA Question

DH started work at a new company recently. We are still within the benefit elections window. DH had an FSA at the old company. My question is: Are we allowed to elect $2600 for the new company? I found this old bulletin, but I don't know if it has been superseded (or if I am interpreting it correctl...
by 2cents2
Fri Apr 28, 2017 8:03 am
Forum: Personal Consumer Issues
Topic: Boglehead Ideas for College Graduation Gifts
Replies: 14
Views: 1505

Re: Boglehead Ideas for College Graduation Gifts

Maybe the recepients were just being polite, but I've never seen anyone disappointed with a cash gift. I give more money for closer relatives. I've also increased the amount over the years due to inflation and also DH and I are better able to afford more. I love graduations. Honestly, I love writing...
by 2cents2
Wed Apr 26, 2017 8:23 pm
Forum: Personal Consumer Issues
Topic: Spring Break Trip to Disney World
Replies: 68
Views: 5572

Re: Spring Break Trip to Disney World

I wonder how it all worked out for scienceguy ..
by 2cents2
Sat Apr 08, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

Re: form 8606 basis question.

Katietsu wrote:There was a thorough discussion of this a couple of months ago.

viewtopic.php?t=183782
Thx, I'll check that out.
by 2cents2
Sat Apr 08, 2017 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

Re: form 8606 basis question.

As for how TurboTax deals with this, see Line 2, of Form 8606 - TurboTax Support and Turbotax hasn't been carrying over my basis from previous years ... - TurboTax Support in case either of those helps. Thx-- Yes it does help. I did answer "yes" to tracking my non-deductible contributions (and I di...
by 2cents2
Sat Apr 08, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

Re: form 8606 basis question.

This may have something to do with the misc itemized deduction allowed for closing all IRAs of the same type for less than basis. The remaining basis (non deductible contributions minus distributions per Pub 590 A) of $86 could either continue in the empty TIRA or be used for the misc deduction (su...
by 2cents2
Wed Apr 05, 2017 7:05 am
Forum: Investing - Theory, News & General
Topic: 2017 BOGLEHEADS CONFERENCE ANNOUNCEMENT
Replies: 192
Views: 29158

Re: 2017 BOGLEHEADS CONFERENCE ANNOUNCEMENT

Please add me to the wait list.
by 2cents2
Tue Apr 04, 2017 9:21 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

Re: form 8606 basis question.

consider calling TT via a trusted number (not Google). Friend called them about a problem w/ FEIE. They somehow connected to his computer so they could see what he had done.......and found an input/status that caused the problem. They suggested something and problem was fixed. I'm not having any lu...
by 2cents2
Tue Apr 04, 2017 9:07 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

Re: form 8606 basis question.

It seems to me if last year's TT generated Form 8606 says $86 left in basis on line 14, it should be bringing it over without regard to how the basis was generated (from a loss or not). This is what I'd do (and you may have already done). Back up and erase everything that pertains to this one quest...
by 2cents2
Tue Apr 04, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

Re: form 8606 basis question.

Is the basis from a loss not allowed to be carried forward? I wish we knew the definitive answer to this. Some people say "yes" and some people say "no". And it appears from what has been reported here that different software may give different answers. In order to have a discussion about it, pleas...
by 2cents2
Tue Apr 04, 2017 8:10 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1867

form 8606 basis question.

In 2015, I contributed $6500 to a traditional (non-deductible) IRA. I had a loss when it came time to convert, so the value at conversion was $6414. 2015 8606 line 5. $6500 line 13. $6414 line 14. $ 86 So, fast forward to 2016. The IRS 2016 8606 instructions say the basis is entered on Line 2 (The a...
by 2cents2
Sat Apr 01, 2017 7:22 pm
Forum: Personal Consumer Issues
Topic: Spring Break Trip to Disney World
Replies: 68
Views: 5572

Re: Spring Break Trip to Disney World

Here are links to the menus for the food kiosks around the World Showcase http://www.themouseforless.com/walt-disney-world/planning/events/flower-and-garden-festival/menus/ https://disneyworld.disney.go.com/events-tours/epcot/flower-garden-outdoor-kitchens/ Here is a link to the dis boards FastPass+...
by 2cents2
Sat Apr 01, 2017 6:29 am
Forum: Personal Consumer Issues
Topic: Spring Break Trip to Disney World
Replies: 68
Views: 5572

Re: Spring Break Trip to Disney World

I agree with the advice to get the "My Disney Experience" Ap on your mobile phone. You can change fast pass selections using that and keep track of your fast pass times, etc. Also, you can keep checking back if there is a fast pass you are trying to get for a particular ride that wasn't previously a...
by 2cents2
Sat Apr 01, 2017 6:19 am
Forum: Personal Consumer Issues
Topic: Spring Break Trip to Disney World
Replies: 68
Views: 5572

Re: Spring Break Trip to Disney World

Family road trip to Disney next Friday for about a week. Me, wife, three kids elem/middle school aged. Been there once 8 years ago with very little kids - different experience. Staying in nearby but not Disney hotel. Expect to spend about four days in the parks, other days visiting friends. Anythin...
by 2cents2
Tue Mar 21, 2017 2:28 pm
Forum: Investing - Theory, News & General
Topic: Anyone else taking less risk
Replies: 115
Views: 11936

Re: Anyone else taking less risk

I was 65/35 and then I turned 61 (DH is a year older) a couple of months ago and my Vanguard recommendation (which had been 65/35) went to 55/45. I don't know if I jiggled some setting or it was a matter of my latest birthday. I re-balanced. But, all the new contributions will be going into stocks, ...
by 2cents2
Sat Mar 04, 2017 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Question for Retired Members--life mistakes
Replies: 64
Views: 9978

Re: Question for Retired Members--life mistakes

I retired in 2011. Good and bad: Around mid career I received a big pay raise which we invested in stocks. The bad: Lots and lots of DRIP stocks all from individual companies. What I didn't count on was after so many years of doing this was I had a real paperwork nightmare. This was in the days befo...
by 2cents2
Thu Mar 02, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: What Car Should I Buy My Daughter as a Graduation Present
Replies: 150
Views: 11157

Re: What Car Should I Buy My Daughter as a Graduation Present

Cars can be very personal. What about telling her you have xyz dollars to buy her a car, what would she like, and then go out shopping for it with her. +1. This is very good advice. That is what we did with our DS. We told him X dollars towards the purchase. He could add to it with his own money or...
by 2cents2
Tue Feb 28, 2017 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: First Post. IRA vs TSP
Replies: 14
Views: 1801

Re: First Post. IRA vs TSP

I was planning on just using a separate normal savings account and saving for the house at the same time. I plan on for sure setting aside 10% every month and then if i have other money left over at the end of the month (I'm sure I will some months). I'll need the money before I'm 59 1/2 most likel...
by 2cents2
Tue Feb 28, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: BH thoughts on Time shares
Replies: 123
Views: 10315

Re: BH thoughts on Time shares

DVC is especially important to get on the resale market, since you don't actually own anything. Their deeds are limited-term leases, typically 50 years from the opening of the property (NOT the sale of any individual contract). If you purchase a deed today for, say, The Boardwalk, you could make us...
by 2cents2
Sun Feb 26, 2017 6:42 am
Forum: Investing - Help with Personal Investments
Topic: First Post. IRA vs TSP
Replies: 14
Views: 1801

Re: First Post. IRA vs TSP

Could you do both? Being that I only plan on investing 15% at the moment, I don't see the reason to do both at this point in time since I'll only be contributing about $5700 per year. If the Roth IRA offered a SIGNIFICANT enough reason to max out first before investing money into my TSP, I would do...
by 2cents2
Sat Feb 25, 2017 7:04 pm
Forum: Investing - Help with Personal Investments
Topic: First Post. IRA vs TSP
Replies: 14
Views: 1801

Re: First Post. IRA vs TSP

Could you do both? Advantages to the TSP--it has a very low Expense Ratio (ER). Also, if you leave the govt you can keep the TSP. If you go to work for a company with a not so good 401k and then subsequently leave that company, you can roll in pretax money into the TSP. As previously pointed out, yo...
by 2cents2
Sat Feb 25, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: BH thoughts on Time shares
Replies: 123
Views: 10315

Re: BH thoughts on Time shares

To the OP, whose question is getting lost in the shuffle ... I thought the OP was asking about timeshares in general and presentations in particular ? Did I miss something? From the OP BH thoughts on Time shares I know very little about time shares , but see ads for them in Las Vegas. Are these goo...
by 2cents2
Thu Feb 23, 2017 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Wife discoverd UTMA account; Never received 1099s; Parents want it back
Replies: 21
Views: 2916

Re: Wife discoverd UTMA account; Never received 1099s; Parents want it back

I wonder if the parents paid taxes on the dividends for the previous years?
by 2cents2
Thu Feb 23, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: BH thoughts on Time shares
Replies: 123
Views: 10315

Re: BH thoughts on Time shares

We have owned our timeshare for 15 years (just had an anniversary Yay!) I realize that our situation is not the norm, but we have been mostly happy with our timeshare. Currently, we could resell our contracts and still get money for them ( we could get more than we paid originally for a couple of th...
by 2cents2
Thu Feb 23, 2017 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: How to Split Pension
Replies: 58
Views: 5153

Re: How to Split Pension

I would take the 2500. The offer is gender neutral. That doesn't favor you in this case. It favors the case where the pension holder is male and older than the spouse. If you want insurance against the premature death of your spouse, buy life insurance. Get the benefit of the pension (i.e. your wif...
by 2cents2
Wed Feb 22, 2017 7:40 am
Forum: Investing - Help with Personal Investments
Topic: Just received a UGMA in the form of a variable annuity…cash it out, or keep it?
Replies: 26
Views: 1949

Re: Just received a UGMA in the form of a variable annuity…cash it out, or keep it?

4) No I haven't done this yet, and you're right that I need to do it since it still lists my mother as the custodian. You would think that the they would just automatically remove the custodian on my 18th birthday (they obviously have my DOB on file). But alas, paperwork is required for me to assum...
by 2cents2
Tue Feb 21, 2017 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: How to Split Pension
Replies: 58
Views: 5153

Re: How to Split Pension

I concur with the advice to do an income stream analysis with and without the survivor benefit. DH and I elected to do the full survivor benefit for each other. (For us) It was an expensive reduction, but I didn't really see any product that would provide comparable protection. We take less, but we ...
by 2cents2
Sun Feb 05, 2017 4:42 pm
Forum: Investing - Theory, News & General
Topic: Costs of the TSP? is it self-sustained?
Replies: 33
Views: 3834

Re: Costs of the TSP? is it self-sustained?

This is what the web site says on the matter: Expenses are offset by the forfeitures of Agency Automatic (1%) Contributions of FERS employees who leave Federal service before they are vested, other forfeitures, and loan fees. Because these amounts are not sufficient to cover all of the TSP's expense...
by 2cents2
Sun Feb 05, 2017 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Stock gifted to me as a kid. Sell or hold?
Replies: 21
Views: 2277

Re: Stock gifted to me as a kid. Sell or hold?

3. Sell, pay the taxes, and move on. It sounds like that is what you want to do. It seems like the taxes are the biggest sticking point to your strategy. But, honestly it would be difficult to tell you specifically which option is best for you tax-wise without knowing your specific tax situation. Do...
by 2cents2
Sat Jan 28, 2017 3:50 am
Forum: Personal Consumer Issues
Topic: Senior Lifetime National Parks Pass Fee Going Up
Replies: 77
Views: 11317

Re: Senior Lifetime National Parks Pass Fee Going Up

Thanks for the heads up. DH turns 62 in a couple of months and we have been planning to go to a National Park to get the pass for his birthday. I hope they don't raise the fee before his birthday...But, at least we know it could happen.
by 2cents2
Mon Jan 09, 2017 8:32 am
Forum: Personal Finance (Not Investing)
Topic: FL prepaid plan(4-Year Florida University Plan)
Replies: 22
Views: 2873

Re: FL prepaid plan(4-Year Florida University Plan)

From your link: "Flexibility The 4-Year Florida University Plan is designed to be used at a State University, but the amount covered by this plan can also be applied to other schools nationwide. Also, other important flexibility considerations include: If the child receives a scholarship, such ...
by 2cents2
Fri Oct 28, 2016 4:50 am
Forum: Investing - Theory, News & General
Topic: SimpleIRA - Unfriendly business owner IRS rule...
Replies: 21
Views: 1771

Re: SimpleIRA - Unfriendly business owner IRS rule...

I'm not sure I follow. If a person joins in October for 1/4 of the year, and they only contribute 3%, then your overall contribution should be capped at that amount rather than 3% of salary. Say they make $100k. For 1/4 of the year then they make $25k. So for a 3% contribution they are putting in $...