Search found 1301 matches

by Carl53
Wed Feb 22, 2017 4:22 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterization Roth conversion
Replies: 5
Views: 264

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: 1326

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: 2097

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: 2803

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: 677

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: 2097

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: 2029

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: 2029

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: 2029

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: 2029

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: 5595

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: 4112

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: 3185

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: 49
Views: 4289

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: 486

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: 2029

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: 2029

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: 2434

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: 1425

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: 87
Views: 11419

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: 4102

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: 4102

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: 139
Views: 14087

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...
by Carl53
Mon Jan 09, 2017 5:18 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 4102

Re: Help with paying off debt

Your PMI is raising your effective home loan interest rate to about 5%. Generally I would go along with most of the other suggestions made here, but in your case plunking down 16k and knocking out the PMI saves $95 per month. This is considerably more than the sum total of monthly interest in all o...
by Carl53
Sun Jan 08, 2017 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Help with paying off debt
Replies: 52
Views: 4102

Re: Help with paying off debt

Your PMI is raising your effective home loan interest rate to about 5%. Generally I would go along with most of the other suggestions made here, but in your case plunking down 16k and knocking out the PMI saves $95 per month. This is considerably more than the sum total of monthly interest in all of...
by Carl53
Wed Jan 04, 2017 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Penfed CC Rewards (hidden advantage if you like points to cash)
Replies: 11
Views: 1920

Re: Penfed CC Rewards (hidden advantage if you like points to cash)

I have the Signature Platinum Rewards since they convinced me to switch a few years ago and then downgraded the point value. That said, over the weekend I redeemed points for a $500 Visa card. I just checked to see if I can find the Visa card by entering Visa in the search box once on the rewards pa...
by Carl53
Tue Jan 03, 2017 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Do you recommend using credit karma's tax product?
Replies: 49
Views: 4289

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

Tax free filing is available to folks who use HRBlock tax software with the 10% of refund rebate. The rebate more than pays for our purchase of the software. It's like buying a short-term CD that pays 10%. And it has already been pioneered. Other than slick deals I do not see this offer for this ye...
by Carl53
Tue Jan 03, 2017 5:44 am
Forum: Investing - Theory, News & General
Topic: How do you treat 401k Match for IRR Purposes?
Replies: 46
Views: 2221

Re: How do you treat 401k Match for IRR Purposes?

While I am no longer contributing to a 401k, looking back at my 2008 spreadsheet, I considered my match as a part of the overall return. My thinking was that if I did not invest in the 401k but did so elsewhere, that those employer contributions would be lost. Contributing got a very large return on...
by Carl53
Tue Jan 03, 2017 5:33 am
Forum: Investing - Help with Personal Investments
Topic: About to get married, help with finances please
Replies: 6
Views: 1046

Re: About to get married, help with finances please

His 401k I am unsure of where my money in my 401k is invested. I know that I put in 7% of my pre tax income, and my employer matches 2:1. My current balance is just over 30,000 (without employer match). It is through Texas Municipal Retirement System. This link, http://www.tmrs.com/down/presentatio...
by Carl53
Tue Jan 03, 2017 4:59 am
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 28010

Re: Whats your number to walk away?

Walked away with about $1.4MM in 08, no more college expenses and a paid off house while in mid 50s. Had two pensions that I was able to front load due to SS leveling until 62 that fully covered living expenses. Now the pensions cover 50-60%, we've recovered from the market drop in 08, but the eleph...
by Carl53
Thu Dec 29, 2016 4:28 pm
Forum: Personal Consumer Issues
Topic: Gift Card received in mail?
Replies: 3
Views: 492

Gift Card received in mail?

My spouse received a $24 prepaid visa "reward card" from Rewards Center issued by Metabank. The letter has a Kohl's coupon attached and claims the card is provided by Visa.. We have no knowledge of what the reward is for although quite a bit is spent at their stores/website. Thoughts appre...
by Carl53
Tue Dec 27, 2016 8:06 am
Forum: Personal Consumer Issues
Topic: Mifi / Hotspot Alternatives?
Replies: 16
Views: 2082

Re: Mifi / Hotspot Alternatives?

I have Straighttalk hotspot Z289 LTE (ATT network) with good signal here but will move to an area with only verizon tower nearby, so I'm looking to switch to a different hotspot as well. Straighttalk hotspots (att or verizon towers depending on z289 or z288?) at walmart $40? for device only. Avail ...
by Carl53
Mon Dec 26, 2016 4:00 pm
Forum: Personal Consumer Issues
Topic: Mifi / Hotspot Alternatives?
Replies: 16
Views: 2082

Re: Mifi / Hotspot Alternatives?

Been considering a hotspot for my inlaws that only have a very poor intermittent dialup ISP available. We know that the sprint signal is very poor and that ATT signal shows a few bars on an iphone. Verizon cellular reception at some level is available. The only alternative seems to be a satellite se...
by Carl53
Mon Dec 26, 2016 2:54 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio review - and pension/SS question
Replies: 8
Views: 604

Re: Portfolio review - and pension/SS question

Questions: 1. I have a “frozen” pension worth $60K annually at my planned retirement age of 64 (2025) – QUESTION: with pension and S/S – do I really need a bond or stable value fund? Consider these as annuities - thoughts on being 100% stock in market? 2. I am currently diversified across many fund...
by Carl53
Mon Dec 26, 2016 2:31 pm
Forum: Personal Consumer Issues
Topic: How old is your vehicle?
Replies: 200
Views: 13857

Re: How old is your vehicle?

I have a 1997 Ford F150 and took it to the shop today because the "Check Engine Light" is illuminated. I noticed the sticker on the inside of the door jam indicates the truck was made 12/96 so that means my truck is 20 YEARS OLD! I bought it used in 2000 for $10,000 and figure I've saved ...
by Carl53
Mon Dec 26, 2016 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Father's Group Life Ins. Policy cost ?
Replies: 3
Views: 260

Re: Father's Group Life Ins. Policy cost ?

Is the annual insurance cost guaranteed on an ongoing basis? If so it probably is a good deal. I think insurance companies count on a number of elderly folks in letting their policies lapse in their later years due to cognitive decline. I know of two such instances. If you will be able to keep an ey...
by Carl53
Fri Dec 23, 2016 6:46 pm
Forum: Investing - Help with Personal Investments
Topic: Traditional IRA account gone after "upgrading"
Replies: 3
Views: 839

Re: Traditional IRA account gone after "upgrading"

My rep warned against upgrading because of automatic account consolidation.
by Carl53
Thu Dec 22, 2016 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage recast strategy - Feedback needed
Replies: 54
Views: 4582

Re: Mortgage recast strategy - Feedback needed

You could do a roll-your-own recast given your numbers. Given your balance of $244k you are 20 months into your loan since you have made extra principal payments and thus have 18 years and 4 months left if you just pay the minimum. Goal 1. As others have suggested your lender may not want to do a re...
by Carl53
Wed Dec 21, 2016 5:21 am
Forum: Investing - Theory, News & General
Topic: Roth Conversion/Reconversion Strategy
Replies: 21
Views: 1129

Re: Roth Conversion/Reconversion Strategy

Your starting to sound more like a reporter than someone with a situation. Nevertheless, of course looking at it as you are is a reasonable approach with a 100% sure gain reducing the effective tax rate from 28% to 14%. In the case of the 43% gain it is reduced from 28% to 20% and for the 27% gain i...
by Carl53
Tue Dec 20, 2016 2:41 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversion/Reconversion Strategy
Replies: 21
Views: 1129

Re: Roth Conversion/Reconversion Strategy

Are you in a no income tax on retirement distributions state?
by Carl53
Tue Dec 20, 2016 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Chase $500 Bonus For New Checking/Savings Accounts - Worth It?
Replies: 28
Views: 3490

Re: Chase $500 Bonus For New Checking/Savings Accounts - Worth It?

I've done the savings promo twice about 15 months apart. Took about 30 minutes on the front end to chat with the banker and the same on the end. Same guy both times I closed it and one of the opening times. He got it that I would not be sticking with them unless they made it worth my while. Both tim...
by Carl53
Mon Dec 19, 2016 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: AMEX Blue Cash Everyday vs Preferred offers
Replies: 13
Views: 1358

Re: AMEX Blue Cash Everyday vs Preferred offers

We have the Preferred card and was charged a $75 membership fee in November. Does this new fee start in 2017? My June 2016 statement, in which I was billed the $75 annual fee, had a Notice of important change to account terms stating that annual renewal fees were increasing to $95 for renewals on o...
by Carl53
Mon Dec 19, 2016 7:35 am
Forum: Personal Finance (Not Investing)
Topic: AMEX Blue Cash Everyday vs Preferred offers
Replies: 13
Views: 1358

AMEX Blue Cash Everyday vs Preferred offers

I've had a Blue Cash Preferred card for several years and watched as the benefits erode over time. Originally there was no limit on purchases or benefits. The grocery limit was then introduced at $6000 per year to receive 6% cash back. Now the annual fee has been bumped up to $95. As a result I am c...
by Carl53
Sat Dec 17, 2016 10:03 am
Forum: Personal Consumer Issues
Topic: Cell phone carriers (looking to switch)
Replies: 34
Views: 2132

Re: Cell phone carriers (looking to switch)

I live 20+ miles outside of a major city and the cell coverage maps usually show less than best at our residence. ATT is the current carrier and often the service makes it to LTE two bars on an iphone in the house, but sometimes it is just 4G. I would like to test out service before I switch to a ne...
by Carl53
Fri Dec 16, 2016 2:54 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversion/Recharacterization - how many accounts?
Replies: 11
Views: 1059

Re: Roth Conversion/Recharacterization - how many accounts?

Rather than continually open new accounts, I've transfer the horse race winner to my main Roth account whenever I've decide, usually very early in the next year. The newly emptied account is then ready to participate in the new race.
by Carl53
Fri Dec 16, 2016 9:05 am
Forum: Investing - Theory, News & General
Topic: Roth Conversion/Recharacterization - how many accounts?
Replies: 11
Views: 1059

Re: Roth Conversion/Recharacterization - how many accounts?

If you don't convert into different empty Roths, then the forms you get back from VG or whomever will show that your conversion/recharacterization will not reflect what you intended to do, but instead you will see a composite $ figure that is prorated across all of the holdings in that account. Rec...
by Carl53
Fri Dec 16, 2016 7:36 am
Forum: Investing - Theory, News & General
Topic: Roth Conversion/Recharacterization - how many accounts?
Replies: 11
Views: 1059

Re: Roth Conversion/Recharacterization - how many accounts?

If you don't convert into different empty Roths, then the forms you get back from VG or whomever will show that your conversion/recharacterization will not reflect what you intended to do, but instead you will see a composite $ figure that is prorated across all of the holdings in that account. Rech...
by Carl53
Fri Dec 16, 2016 7:03 am
Forum: Personal Consumer Issues
Topic: What temperature for house for long winter absence?
Replies: 70
Views: 84045

Re: What temperature for house for long winter absence?

I made the mistake of telling my insurance agent about several extended trips we had taken and they advised me that if 30 days elapsed since either my spouse or I spent a night there that our insurance coverage was in jeopardy. We usually drop the thermostat to 55, shut off the water and open a fauc...
by Carl53
Mon Dec 05, 2016 4:32 am
Forum: Personal Finance (Not Investing)
Topic: How do you save copies of your tax forms and supporting docs?
Replies: 27
Views: 2019

Re: How do you save copies of your tax forms and supporting docs?

I have a couple of boxes with 40 years of returns and pertinent papers. About 5 years ago I pulled out returns back to 1986 and scanned them to PDFs. 1986 was just before any shuffling of funds between IRAs, savings plans and the like occurred.
by Carl53
Mon Dec 05, 2016 4:15 am
Forum: Investing - Help with Personal Investments
Topic: Retirement Plan / Portfolio Critique Requested
Replies: 34
Views: 2555

Re: Retirement Plan / Portfolio Critique Requested

So, the questions: 1) Does this plan hold water? 2) What are the holes? 3) We will be well within the 15% tax bracket. Roth conversion or Tax gain harvesting to fill the bracket in our situation? 4) We will likely have excess funds in the 529 plans. Current plan is to leave in place for next genera...

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