Search found 1328 matches

by Carl53
Mon Mar 27, 2017 6:27 am
Forum: Personal Consumer Issues
Topic: Need advice about massive changes in daughter's college program by dean
Replies: 52
Views: 3456

Re: Need advice about massive changes in daughter's college program by dean

livesoft wrote:Put yourself in the dean's shoes: The dean may not even have a job going forward except to turn out the lights.


I'll take that $300,000 job even they cut the pay 10%.
by Carl53
Sun Mar 19, 2017 10:52 am
Forum: Investing - Help with Personal Investments
Topic: 1st Request; Post-Retirement Plan Critique
Replies: 25
Views: 1873

Re: 1st Request; Post-Retirement Plan Critique

Or is "what hers is hers" and "what his is his" because after all these are "Individual" Retirement Accounts ? This one. We have full access authorizations to each others accounts, but you cannot combine them. We do have a joint account that most IRA contributions have...
by Carl53
Sat Mar 18, 2017 8:39 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Feedback - Young College Professor
Replies: 10
Views: 871

Re: Portfolio Feedback - Young College Professor

It appears that your annual combined salaries is $80k. You are solidly in the 15% bracket. Given this, drop your 457 contributions and divert them to your wife's Roth unless you are trying to get your MAGI down to the mid-60s and get yourselves eligible for the 10% Retirement Savers Credit. Consider...
by Carl53
Sat Mar 18, 2017 3:02 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 2546
Views: 654570

Re: What Movie Have You Recently Watched?

Logan. I'm not an X-men guy, but this was good. Also saw Hacksaw Ridge. This was the only nominated movie I had not seen. For some reason, Mel Gibson maybe, SAG did not send this out as a screener to view. This was by far the best of the nominated movies. Andrew Garfield deserved best actor. Casey ...
by Carl53
Sat Mar 18, 2017 2:56 am
Forum: Personal Consumer Issues
Topic: Autonomous Vehicles and Drone Deliveries
Replies: 31
Views: 1608

Re: Autonomous Vehicles and Drone Deliveries

I'm waiting for Homeland Security to put the brakes on this. I hope they do before Pandora's box is fully opened. Thinking about this potential outcome would definitely keep me from investing in it.
by Carl53
Fri Mar 17, 2017 6:09 am
Forum: Investing - Help with Personal Investments
Topic: Retirement Planning Help (for in-laws)
Replies: 5
Views: 570

Re: Retirement Planning Help (for in-laws)

Be sure MIL signs up for Medicare at 65, not 66.
by Carl53
Fri Mar 17, 2017 5:43 am
Forum: Investing - Help with Personal Investments
Topic: 401k worth the fees?
Replies: 10
Views: 924

Re: 401k worth the fees?

I had 118000 as of march of 16' now 150k with 18k I put in. I am not able to calculate a 22% return Assuming your initial value as of 3/16/16 and depositing 1500 per month on the 16th starting with the next month, a current value of 150k reveals an XIRR return of only 11.07%. Apparently the rest of...
by Carl53
Thu Mar 16, 2017 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Scenario
Replies: 16
Views: 1864

Re: Social Security Scenario

My husband and I are now looking to retire early, we do not have to take social security right away and we want time to do Roth conversions. Wife (me) is now 55, FRA is 67, PIA is $27,384 Husband is now 61, FRA is 66, PIA is $30,900 When you use the calculators suggested, be sure you understand whe...
by Carl53
Thu Mar 16, 2017 2:09 pm
Forum: Investing - Help with Personal Investments
Topic: 1st Request; Post-Retirement Plan Critique
Replies: 25
Views: 1873

Re: 1st Request; Post-Requirement Plan Critique

Consider doing Roth conversions rather than just piling up cash as an Emergency Fund. Since you are past 59.5 you would have no penalty for withdrawing from converted Roth funds should you need it. If not then it grows tax free. Regarding SS, will you turn 64 this calendar year. If so, (actually ju...
by Carl53
Thu Mar 16, 2017 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae Rewards MC being discontinued
Replies: 154
Views: 16842

Re: Sallie Mae Rewards MC being discontinued

Just checked my account. Apparently I managed to have outstanding rewards totalling $1. Did everyone else actually receive the new card? I did not. Sent them an online message that I did not want to activate a card just to be able to close the account.
by Carl53
Thu Mar 16, 2017 7:20 am
Forum: Investing - Help with Personal Investments
Topic: 1st Request; Post-Retirement Plan Critique
Replies: 25
Views: 1873

Re: 1st Request; Post-Requirement Plan Critique

Consider doing Roth conversions rather than just piling up cash as an Emergency Fund. Since you are past 59.5 you would have no penalty for withdrawing from converted Roth funds should you need it. If not then it grows tax free. Regarding SS, will you turn 64 this calendar year. If so, (actually jus...
by Carl53
Thu Mar 09, 2017 8:35 am
Forum: Personal Consumer Issues
Topic: Zero-Turn Mowers
Replies: 23
Views: 1652

Re: Zero-Turn Mowers

Bought a demo 42 inch hustler a few years ago for $2000. Works great.
by Carl53
Tue Mar 07, 2017 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Filing a Social Security Application to Suspend Benefits
Replies: 2
Views: 263

Re: Filing a Social Security Application to Suspend Benefits

Hello, I'm turning 66 in June and want to file to defer/suspend benefits until I'm 70 and earn DRC. Can this be done on-line or do I call SS? Read a great post today on Restricted Applications that my wife will use once I file. But for me turning 66 in June, what way is the best way to suspend my b...
by Carl53
Tue Mar 07, 2017 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Roth Withdrawal Sanity Check
Replies: 6
Views: 551

Re: Roth Withdrawal Sanity Check

Are you still working? If you are retired you ought to be able to get the money out tax free. If you are still working the plan document may place some limitations on withdrawals.
by Carl53
Tue Mar 07, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Restricted Application
Replies: 24
Views: 1778

Re: Social Security Restricted Application

Like a few others above I recently (October ) filed for spousal benefits, a week after my wife filed, a few months before her 66th birthday, for her full benefits. We both filed online, received no phone calls, and we got our first checks the month after she turned 66th. According to my notes there...
by Carl53
Mon Mar 06, 2017 3:55 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with lump sum? First time poster.
Replies: 10
Views: 921

Re: What to do with lump sum? First time poster.

I came into some money and need to hang on to the principle (risk averse). I am currently retired with a small pension coming in. I haven't started social security benefits. The stock market is currently overpriced (in my limited opinion) and due for a major correction, from what I read. The bond m...
by Carl53
Sat Mar 04, 2017 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Refinance without PMI?
Replies: 27
Views: 1648

Re: Refinance without PMI?

Hi Bogleheads, I bought my first house almost two years ago and made several mistakes along the way. It was my personal goal to buy my first house without paying PMI and putting down 20%, but unfortunately it wasn't until signing day I discovered that wasn't the case. :oops: Each month I spend $343...
by Carl53
Mon Feb 27, 2017 3:45 pm
Forum: Personal Consumer Issues
Topic: standing water around house
Replies: 24
Views: 1965

Re: standing water around house

This can only lead to problems. Think mold, rot, insects.

Do you have a basement, crawl space or slab? Likely you will need drainage away from the house improved, but perhaps grading, French drains, sump pump or other remedies.
by Carl53
Mon Feb 27, 2017 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Why not to do ROTH Conversion
Replies: 29
Views: 2919

Re: Why not to do ROTH Conversion

All this assumes that my conversions can stay ahead of the TIRA gains. Unfortunately, NOT, it has been a little difficult recently to keep the TIRA balance from increasing despite substantial conversions. is this sarcasm or are you seriously objecting to having growth in your TIRA? If so, you are m...
by Carl53
Mon Feb 27, 2017 6:02 am
Forum: Personal Finance (Not Investing)
Topic: Household budget
Replies: 28
Views: 3074

Re: Household budget

Are utilities in housing? Cell, gas, electric, cable?

Ditto on others asking about transportation, food and clothes. How about gifts or personal expenses.
by Carl53
Mon Feb 27, 2017 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Why not to do ROTH Conversion
Replies: 29
Views: 2919

Re: Why not to do ROTH Conversion

You want to do conversions when it is tax beneficial. You have retired or only working a modest amount, you have delayed SS and or pension such that your income tax bracket is otherwise low. Convert to the top of the tax bracket you are in. For us that is to the top of the 15% bracket. Once RMDs kic...
by Carl53
Mon Feb 27, 2017 4:59 am
Forum: Investing - Help with Personal Investments
Topic: Pension at the PBGC - when to begin taking
Replies: 21
Views: 1567

Re: Pension at the PBGC - when to begin taking

About 10 Years ago my company froze their pension plan and then a few years later we went into Bankruptcy. When we emerged from bankruptcy the pension was in the hands of the PBGC. According to the PBGC paperwork I received once you reach the age of 55 you can begin drawing your pension from the PB...
by Carl53
Sun Feb 26, 2017 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: Pension at the PBGC - when to begin taking
Replies: 21
Views: 1567

Re: Pension at the PBGC - when to begin taking

About 10 Years ago my company froze their pension plan and then a few years later we went into Bankruptcy. When we emerged from bankruptcy the pension was in the hands of the PBGC. According to the PBGC paperwork I received once you reach the age of 55 you can begin drawing your pension from the PB...
by Carl53
Sun Feb 26, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: New Member Here, Looking for some suggestions
Replies: 24
Views: 1703

Re: New Member Here, Looking for some suggestions

Cash back Card 1.5% $1300/month...but we use this to pay for food/gas/utilities currently at a balance of $6657 with $23,000 available credit. Attempting to use this as a way to better track all bills/utilities/etc. Putting Cash back into EF to help beef it up. What interest rate is this card? If t...
by Carl53
Sun Feb 26, 2017 6:10 am
Forum: Personal Finance (Not Investing)
Topic: Credit card: Cash versus Flight Miles
Replies: 62
Views: 4801

Re: Credit card: Cash versus Flight Miles

I am curious if one opens multiple cards over time as to whether you can readily combine all of the points from the cards so as to not have to add cash or lose odd points after redeeming the bulk of the bonus points. In other words to you have a points account somewhere that you move them to after e...
by Carl53
Sat Feb 25, 2017 10:40 am
Forum: Investing - Help with Personal Investments
Topic: Early Soc Sec or spend down investments/assets?
Replies: 28
Views: 2617

Re: Early Soc Sec or spend down investments/assets?

Thank you all so much. The termination happened so fast, I just needed some mental support to stay the course for the original plan of SS at age 70. To respond to several questions: wife worked for a few years, and then became a SAHM, so her own earnings/benefits would be minimal. My SS earnings wi...
by Carl53
Wed Feb 22, 2017 4:22 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterization Roth conversion
Replies: 10
Views: 663

Re: Recharacterization Roth conversion

TT should ask you to include a statement before you exit the process of entering the recharacterization information. At least it has for me several times in the past.
by Carl53
Fri Feb 17, 2017 5:24 am
Forum: Personal Finance (Not Investing)
Topic: Debt Payment Strategy/Interest Question
Replies: 26
Views: 1392

Re: Debt Payment Strategy/Interest Question

Based on what you've said, the above quoted question's answer must be 'no.' So is there *never* a situation where paying towards a lower interest loan can be more beneficial than towards a higher interest loan (strictly speaking to interest saved)? No matter what point in time either of the two loa...
by Carl53
Tue Feb 14, 2017 6:19 am
Forum: Personal Finance (Not Investing)
Topic: Ready to retire 65 50k US bond or 1yr SS delay?
Replies: 28
Views: 2216

Re: Ready to retire 65 50k US bond or 1yr SS delay?

According to Carl53 above, he said 'You would then be able to collect $400 on your wife's record whether she started now or in a year. Together you would collect about $1000/month. " But isn't the SS rule such that if I claim SS then the SS admin would choose my benefit to be the max of a) my ...
by Carl53
Tue Feb 14, 2017 5:41 am
Forum: Forum Issues and Administration
Topic: [Bogleheads Sites Are Ad-Free]
Replies: 45
Views: 3085

Re: [Bogleheads Sites Are Ad-Free]

At home the best download speed attainable is less than 3Mb/s and ads seem to often slow down websites/articles from loading. When I visit my inlaws and have a 15kb/s dial up connection, bogleheads.org is about the only thing you can connect to, and it is very slow. Ads would totally kill it.
by Carl53
Sun Feb 12, 2017 7:08 am
Forum: Investing - Help with Personal Investments
Topic: clergy: which tax adv retirement (and college saving) vehicle should I prefer?
Replies: 7
Views: 705

Re: clergy: which tax adv retirement (and college saving) vehicle should I prefer?

I just glanced at PUB 517 and find the wording about excluding housing allowances somewhat confusing. Hopefully some clergy will chime in on their experiences. If you analysis is correct, (have you tried a dummy return using your tax software to verify?) you have noted all of the important stuff (si...
by Carl53
Sun Feb 12, 2017 6:28 am
Forum: Personal Finance (Not Investing)
Topic: Ready to retire 65 50k US bond or 1yr SS delay?
Replies: 28
Views: 2216

Re: Ready to retire 65 50k US bond or 1yr SS delay?

GE If you have other sources of funds, you might also have the option for you to restrict your SS benefit to spousal if you wait until FRA (66 for you) since you were born before 1/1/54 . You would then be able to collect $400 on your wife's record whether she started now or in a year. Together you ...
by Carl53
Mon Feb 06, 2017 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, tIRA to Roth IRA conversion and Roth contribution
Replies: 34
Views: 2109

Re: SEP IRA, tIRA to Roth IRA conversion and Roth contribution

Does the pension 1099R clearly show the payer as a DB plan? If not, you could include an explanatory statement with the return indicating why you did not show the pension on line 4. You could include that the plan did now allow voluntary after tax contributions if that is the case. The 1099R mentio...
by Carl53
Mon Feb 06, 2017 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, tIRA to Roth IRA conversion and Roth contribution
Replies: 34
Views: 2109

Re: SEP IRA, tIRA to Roth IRA conversion and Roth contribution

Today Pub 590 A DOES refer to voluntary after tax contributions to a Sec 4974 plan as eligible contributions. But since most DB plans did not allow such contributions, if your DB plan in payout did not allow voluntary after tax contributions, you might consider not showing the distribution as a red...
by Carl53
Mon Feb 06, 2017 9:17 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, tIRA to Roth IRA conversion and Roth contribution
Replies: 34
Views: 2109

Re: SEP IRA, tIRA to Roth IRA conversion and Roth contribution

You mention that your income was very low in 2015. If your AGI for that year was below 30500 after the TIRA deduction, you would have been eligible for claiming the Retirement Savings Credit, Form 8880. If so and you did not previously claim it you may want to amend your taxes for that year to clai...
by Carl53
Wed Feb 01, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, tIRA to Roth IRA conversion and Roth contribution
Replies: 34
Views: 2109

Re: SEP IRA, tIRA to Roth IRA conversion and Roth contribution

You mention that your income was very low in 2015. If your AGI for that year was below 30500 after the TIRA deduction, you would have been eligible for claiming the Retirement Savings Credit, Form 8880. If so and you did not previously claim it you may want to amend your taxes for that year to clai...
by Carl53
Mon Jan 30, 2017 6:53 am
Forum: Investing - Help with Personal Investments
Topic: Please Help with 25 Year Old Daughter-In-Law.
Replies: 36
Views: 5747

Re: Please Help with 25 Year Old Daughter-In-Law.

If she is receptive to your plan be sure to go over her taxes with her. Between EIC and the potential for the Retirement Savings Credit (Form 8880) she surely would not owe any taxes.
by Carl53
Mon Jan 30, 2017 5:39 am
Forum: Personal Finance (Not Investing)
Topic: seeking advice - need to advise newly widowed mother in deep debt
Replies: 46
Views: 4154

Re: seeking advice - need to advise newly widowed mother in deep debt

On the expense side, she has a monthly mortgage (principal, interest, taxes, ins, and HOA dues) that will consume approximately 45% of her now reduced income. She has a $200k loan on the condo, and about $100k in equity on the home. Please elaborate on the house loan. Did they pay $300k for the con...
by Carl53
Sun Jan 29, 2017 3:16 am
Forum: Personal Consumer Issues
Topic: Senior Lifetime National Parks Pass Fee Going Up
Replies: 24
Views: 3248

Re: Senior Lifetime National Parks Pass Fee Going Up

Thanks to this thread I stopped by at a nearby "Culture Natural Historical Park" visitor center yesterday to purchase one for $10. Spouse is not 62 yet so I didn't ask for a second. Turns out the senior pass for one will get a carload (4 people although the nice lady there said that it cou...
by Carl53
Sat Jan 28, 2017 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Do you recommend using credit karma's tax product?
Replies: 52
Views: 5380

Re: Do you recommend using credit karma's tax product?

I also am also someone who used TaxAct for years because they offered really good deals to look in a few months before. This year the deals are slim for TaxAct so I am considering credit karma's tax product. I looked at last years Tax forms from Vanguard and because I'm retired it is mostly all For...
by Carl53
Sat Jan 28, 2017 7:03 pm
Forum: Investing - Help with Personal Investments
Topic: Student Earned Income, ROTH IRA
Replies: 9
Views: 524

Re: Student Earned Income, ROTH IRA

Per Pub 590A

Roth IRAs only. If contributions are made only to Roth
IRAs, your contribution limit generally is the lesser of:
$5,500 ($6,500 if you are age 50 or older), or
Your taxable compensation.


Her taxable compensation is $650.
by Carl53
Mon Jan 23, 2017 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, tIRA to Roth IRA conversion and Roth contribution
Replies: 34
Views: 2109

Re: SEP IRA, tIRA to Roth IRA conversion and Roth contribution

You mention that your income was very low in 2015. If your AGI for that year was below 30500 after the TIRA deduction, you would have been eligible for claiming the Retirement Savings Credit, Form 8880. If so and you did not previously claim it you may want to amend your taxes for that year to clai...
by Carl53
Mon Jan 23, 2017 7:06 am
Forum: Personal Finance (Not Investing)
Topic: SEP IRA, tIRA to Roth IRA conversion and Roth contribution
Replies: 34
Views: 2109

Re: SEP IRA, tIRA to Roth IRA conversion and Roth contribution

You mention that your income was very low in 2015. If your AGI for that year was below 30500 after the TIRA deduction, you would have been eligible for claiming the Retirement Savings Credit, Form 8880. If so and you did not previously claim it you may want to amend your taxes for that year to claim...
by Carl53
Thu Jan 19, 2017 7:55 am
Forum: Personal Consumer Issues
Topic: Wood burning stoves - do you leave home with it burning?
Replies: 15
Views: 2513

Re: Wood burning stoves - do you leave home with it burning?

We did the same in the early 80's. Load of good dry oak in the morning, when I got in from work in the evening when I opened the air inlet a little and topping it off before bedtime while readjusting the air inlet. From the morning load until return from work typically spanned 11+ hours. Seldom did ...
by Carl53
Wed Jan 11, 2017 10:14 am
Forum: Investing - Help with Personal Investments
Topic: Help me decide if I should Invest or Payoff Loans?
Replies: 15
Views: 1467

Re: Help me decide if I should Invest or Payoff Loans?

If you get the match with a only a two or four percent contribution, get it. It still is a 50 or 100% return in e first year. Lobby your employer as appropriate for better investment options. Pay off the school and car loans with your cash. Long term, do you see yourself married, and will you still ...
by Carl53
Wed Jan 11, 2017 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax 2016 purchase source
Replies: 91
Views: 12431

Re: Turbo Tax 2016 purchase source

New low price for those who haven't purchased (or can return to Costco) -- Staples. TurboTax Deluxe plus state is $39.89, then get $10 off TurboTax with code 18450 for a total of $29.89 with free in-store pickup or download. Premier is $60.19, $50.19 with coupon. Deluxe without state is $31.49, so ...
by Carl53
Tue Jan 10, 2017 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 4169

Re: Help with paying off debt

Jack- you suggest not contributing to the Roth even though I have zero in that account now? Granted, I have my employer's pension fund with about 6K into that and my wife contributes to her 401(k). I can't wait for all of this to be gone! I expect Jack's response to be YES. With no PMI, the $95/mon...
by Carl53
Mon Jan 09, 2017 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 4169

Re: Help with paying off debt

Ramsey's snowball plan is generally ok, but in this case most of these loans are very low interest rates. The OP is not short of funds to make payments just contemplating what is best. I equate best as with what will generate the most money in his pocket. Getting rid of the PMI first is way more imp...
by Carl53
Mon Jan 09, 2017 5:27 am
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae Rewards MC being discontinued
Replies: 154
Views: 16842

Re: Sallie Mae Rewards MC being discontinued

I stopped using my Sallie Mae when this announcement came out as I had just redeemed my rebate and had only 66 points balance. Going to miss it. Still have another Barclay Bank issued card, Priceline Visa that pays out 2% on all purchases (no longer available under those terms), Amex BCP for most gr...

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