Search found 233 matches

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: 1847

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: 75
Views: 2746

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: 26
Views: 1952

Re: Chase hotel credit cards / IHG Anniversary Free Night

I used to love this IHG annual free night award, but lately I have had some trouble booking some of my preferred choices for no additional cost (besides the annual fee). Here are some examples (I just plugged in Saturday night): Crown Plaza Times Square Manhattan Chase Anniversary Free Night 65.00 U...
by 2cents2
Thu May 04, 2017 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: FSA Question
Replies: 5
Views: 464

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: 464

Re: FSA Question

Bump...
by 2cents2
Thu May 04, 2017 6:45 am
Forum: Personal Finance (Not Investing)
Topic: FSA Question
Replies: 5
Views: 464

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: 1220

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: 4718

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: 1529

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: 1529

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...
by 2cents2
Sat Apr 08, 2017 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1529

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: 141
Views: 15058

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: 1529

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: 1529

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: 1529

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 discus...
by 2cents2
Tue Apr 04, 2017 8:10 am
Forum: Personal Finance (Not Investing)
Topic: form 8606 basis question.
Replies: 30
Views: 1529

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: 4718

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: 4718

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 pr...
by 2cents2
Sat Apr 01, 2017 6:19 am
Forum: Personal Consumer Issues
Topic: Spring Break Trip to Disney World
Replies: 68
Views: 4718

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: 10352

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: 9226

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: 139
Views: 6106

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: 1504

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: 8955

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: 1504

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: 1504

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: 8955

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: 2560

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: 8955

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: 4559

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: 1575

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: 4559

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: 3448

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: 2003

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: 51
Views: 7080

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: 21
Views: 2067

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
Wed Nov 09, 2016 3:35 pm
Forum: Personal Consumer Issues
Topic: Request Suggestions for Family Holiday Activities-South Central PA
Replies: 6
Views: 684

Re: Request Suggestions for Family Holiday Activities-South Central PA

How about: https://longwoodgardens.org/events-and-performances/events/longwood-christmas In DC A Christmas Carol (Ford's Theatre) https://events.fords.org/productions/a-christmas-carol/?gclid=CJGCoszCnNACFchXDQod3poHVA National Christmas Tree: http://thenationaltree.org/ Skating on the Mall: http://...
by 2cents2
Fri Oct 28, 2016 4:50 am
Forum: Investing - Theory, News & General
Topic: SimpleIRA - Unfriendly business owner IRS rule...
Replies: 21
Views: 1549

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 $...
by 2cents2
Sun Oct 16, 2016 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Someone else's check got cleared from my Checking Account
Replies: 65
Views: 5943

Re: Someone else's check got cleared from my Checking Account

Question for OP-- why would you trust the bank to check their own work a second time? If they use the same method-- presumably they would get the same results. Wouldn't you want to check it? Going forward--do you think you will reconcile your account? No, I do not see the need for me to manually cr...
by 2cents2
Fri Oct 14, 2016 4:17 am
Forum: Personal Finance (Not Investing)
Topic: Someone else's check got cleared from my Checking Account
Replies: 65
Views: 5943

Re: Someone else's check got cleared from my Checking Account

I am also surprised at the number of folks who don't even keep a register. It used to be a chore to balance the checkbook in the days before personal computers, but now I use financial software. Reconciling is very easy and just takes a couple of minutes. Thankfully bank errors have been rare, but t...
by 2cents2
Thu Sep 29, 2016 3:53 am
Forum: Personal Consumer Issues
Topic: Is a garbage disposal unit a good idea for a rental property?
Replies: 34
Views: 2322

Re: Is a garbage disposal unit a good idea for a rental property?

I dont like cooking in a kitchen that doesn't have a garbage disposal. It would be a deal breaker for me. We have been using the same garbage disposal that was there when we bought our house over 30 years ago (I am amazed at how long it's lasted). Wouldn't not having a garbage disposal in the unit r...
by 2cents2
Wed Sep 28, 2016 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: What is it like to plan for retirement a couple years before the big day?
Replies: 15
Views: 2060

Re: What is it like to plan for retirement a couple years before the big day?

I went to a retirement course through my employer which was helpful. I looked at our expenses in more detail. (And, what I expected after retirement.). I modeled income streams based on either DH or I predeceasing each other to see if life insurance was still needed. Then a couple years prior we liv...
by 2cents2
Wed Sep 28, 2016 10:59 am
Forum: Personal Finance (Not Investing)
Topic: TSP - Surviving spouse should probably move out of the TSP
Replies: 16
Views: 1978

Re: TSP - Surviving spouse should probably move out of the TSP

Lady geek, There is another option for beneficiaries who also have their own TSP account that might be relevant: "If you have an existing TSP account from your own employment with the Federal Government or the uni­ formed services, you can move your bene ciary partici­ pant account into your ex...
by 2cents2
Sun Sep 25, 2016 10:12 am
Forum: Personal Finance (Not Investing)
Topic: TSP - Surviving spouse should probably move out of the TSP
Replies: 16
Views: 1978

Re: TSP - Surviving spouse should probably move out of the TSP

Jo,
I'm so sorry for your loss. They sure do make it difficult for the successor beneficiaries.
The deciding factor for me would depend on how much 3-5% of your estate amounts to and whether it would result in a big tax hit for your successor beneficiaries.
by 2cents2
Wed Sep 14, 2016 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Denied Term Life Insurance/A Reminder to Get Your House in Order
Replies: 40
Views: 4785

Re: Denied Term Life Insurance/A Reminder to Get Your House in Order

Are you at the absolute maximum for your group policy? We can purchase a significant amount more than the firm-standard coverage offered. +1 Every place I've ever worked allowed you to boost coverage from 2 to 5x, although over a certain dollar amount they need a physical exam. That is a good point...
by 2cents2
Wed Sep 14, 2016 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Denied Term Life Insurance/A Reminder to Get Your House in Order
Replies: 40
Views: 4785

Re: Denied Term Life Insurance/A Reminder to Get Your House in Order

Texan, Another thing that might put your mind at ease is to find out the Social Security survivor benefit that might be available to your survivors. I agree with you about keeping up with the necessary life insurance. I wish we had done this with DH. He had a 15 year level term annual renewable--whi...
by 2cents2
Wed Sep 14, 2016 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Pension Buyout and LTC
Replies: 20
Views: 1678

Re: Pension Buyout and LTC

Another method is to forget about survival weighting based on a mortality table, and simply calculate the discount rate assuming the pension runs for a specified number of years. The following table shows the return ranges from 0.5% if it ran only 15 years to 5.0% if it ran for 40. This is really g...
by 2cents2
Tue Sep 13, 2016 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Pension Buyout and LTC
Replies: 20
Views: 1678

Re: Pension Buyout and LTC

DH is 61 and I am 60. We are considering 3 options. ⋅ The buyout. ⋅ Taking the pension at 65 [in 4 years] with 100% survivor benefit-(annual pension amount is about 6.7% of the buyout amount). ⋅ Taking a reduced pension at 65 with 100% survivor benefit ... (annual bene...
by 2cents2
Mon Sep 12, 2016 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Buyout and LTC
Replies: 20
Views: 1678

Re: Pension Buyout and LTC

DH is 61 and I am 60. We are considering 3 options. ⋅ The buyout. ⋅ Taking the pension at 65 [in 4 years] with 100% survivor benefit-(annual pension amount is about 6.7% of the buyout amount). ⋅ Taking a reduced pension at 65 with 100% survivor benefit ... (annual bene...

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