Search found 215 matches

by Chicago60
Thu Sep 22, 2016 3:31 pm
Forum: Personal Consumer Issues
Topic: Chicago Food/Restaurant Recommendations
Replies: 57
Views: 2665

Re: Chicago Food/Restaurant Recommendations

There are quite a few Chicago restaurant institutions--Manny's Deli on S. Jefferson Street, Lou Mitchell's on W. Jackson, The Berghoff on Adams, Billy Goat on lower Michigan Ave--that will give you a flavor of what working class and ethnic Chicago was like 50 or 60 years ago, before it became the &...
by Chicago60
Thu Sep 22, 2016 9:02 am
Forum: Personal Consumer Issues
Topic: Chicago Food/Restaurant Recommendations
Replies: 57
Views: 2665

Re: Chicago Food/Restaurant Recommendations

Excellent suggestions above, and you cannot go wrong with almost any of them. I could add 50 more in the River North, Streeterville, Gold Coast area, but you really cannot go wrong with the above suggestions. I write for two reasons: If you want deep dish pizza, do not go to Giordano's. The lines ar...
by Chicago60
Fri Sep 09, 2016 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Sole Proprietor 401K and Tax Questions
Replies: 9
Views: 713

Re: Sole Proprietor 401K and Tax Questions

Spirit Rider wrote:Wait a minute, what do you mean by this.


What I meant by that is lines 4 and 5 (I think) from Schedule SE of my 1040. I did not, and do not, pay myself W-2 wages. Thanks for the question, and concern.
by Chicago60
Thu Sep 08, 2016 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Sole Proprietor 401K and Tax Questions
Replies: 9
Views: 713

Re: Sole Proprietor 401K and Tax Questions

I don't think you will find anything on the IRS website, because there is no difference between a sole proprietor and the individual taxpayer. They are one and the same, for the purposes of a 401k you are both employer and employee. Here is a relevant reference in 401(c)(5) 26 U.S. Code Ā§ 401 - Qua...
by Chicago60
Wed Sep 07, 2016 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Sole Proprietor 401K and Tax Questions
Replies: 9
Views: 713

Re: Sole Proprietor 401K and Tax Questions

Thanks, Paddy. That was my assumption, but I could not find an answer on the IRS website, and was hoping for something more authoritative and definitive.
by Chicago60
Wed Sep 07, 2016 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Sole Proprietor 401K and Tax Questions
Replies: 9
Views: 713

Sole Proprietor 401K and Tax Questions

This is my first year with a 401K through my sole proprietorship, which I opened solely to take advantage of the ability to contribute to a Roth 401K since I intended to not add to my tax favored accounts, and intended to begin conversions of a sizeable tIRA to a Roth IRA. I now am questioning the w...
by Chicago60
Sat Sep 03, 2016 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Help with potential lawsuit
Replies: 32
Views: 2753

Re: Help with potential lawsuit

[ Nope, not settled by any means. I am sorry to inform you but the letter may be meaningless. Your insurance company supposedly did its own investigation and (not surprisingly) concluded the other driver was responsible for the accident (which seems inconsistent with the facts in the opening post--...
by Chicago60
Sat Sep 03, 2016 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Help with potential lawsuit
Replies: 32
Views: 2753

Re: Help with potential lawsuit

You say "everything was settled months ago", but that the other driver is now claiming personal injury. In what way was it "settled?" Did your insurance company pay the other driver for either damage to his vehicle, or his personal injuries, or both? If so, did the insurance com...
by Chicago60
Sat Sep 03, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Unethical to chase transfer bonuses?
Replies: 52
Views: 3603

Re: Unethical to chase transfer bonuses?

Maybe you are old and cheap, but what does that have to do with the ethics of your question? If you are simply complying with the rules provided, I see nothing unethical about moving your investments around to take advantage of bonus offers. These companies know a certain percentage of people will d...
by Chicago60
Sat Sep 03, 2016 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Help with potential lawsuit
Replies: 32
Views: 2753

Re: Help with potential lawsuit

You say "everything was settled months ago", but that the other driver is now claiming personal injury. In what way was it "settled?" Did your insurance company pay the other driver for either damage to his vehicle, or his personal injuries, or both? If so, did the insurance comp...
by Chicago60
Fri Sep 02, 2016 1:09 pm
Forum: Personal Consumer Issues
Topic: Can company convert to auto renewal without your permission?
Replies: 13
Views: 977

Re: Can company convert to auto renewal without your permission?

Received my yearly bill for service contract for furnace and hot water heater repairs. In past years I always paid with a check. The last few years I've been debating if I should renew or not. This year the renewal letter said "for my convenience" on Oct 1st of each year they will automat...
by Chicago60
Thu Sep 01, 2016 2:57 pm
Forum: Investing - Help with Personal Investments
Topic: Can I Retire Early? Roth Conversion?
Replies: 21
Views: 3621

Re: Can I Retire Early? Roth Conversion?

Generally converting your tIRA to a Roth now is not a good idea if your current tax rate is higher than your expected tax rate in retirement.
by Chicago60
Thu Sep 01, 2016 2:53 pm
Forum: Investing - Help with Personal Investments
Topic: Investing for kids future
Replies: 10
Views: 860

Re: Investing for kids future

You may want to look into 529 plans for their expected college costs. You can invest their money and you can add to it. Depending on where you live, you may also receive a state tax deduction.
by Chicago60
Mon Aug 29, 2016 11:53 pm
Forum: Investing - Help with Personal Investments
Topic: Suggestion for CD
Replies: 5
Views: 619

Re: Suggestion for CD

The best site I know of for CD suggestions is https://www.depositaccounts.com/blog/
You can search for whatever term your heart desires.
by Chicago60
Mon Aug 29, 2016 6:19 pm
Forum: Personal Consumer Issues
Topic: Selling house to our real estate agent - issues
Replies: 16
Views: 1547

Re: Selling house to our real estate agent - issues

Two Issues here: financial and legal. For the financial, how long was the house on the market before the agent made the offer, and how many showings and offers, if any, were there? It may very well be that the agent's offer is competitive and fair if the house had showings or offers but minimal inte...
by Chicago60
Fri Aug 26, 2016 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Hiring a Family Law / Divorce Attorney
Replies: 6
Views: 674

Re: Hiring a Family Law / Divorce Attorney

What criteria are important when selecting a divorce attorney? ... Does the prestige of the attorney impact the behavior of opposing counsel? For example, if one attorney is head of the local Bar Association might the performance of the other attorney be more deferential? Not in my experience, alth...
by Chicago60
Thu Aug 25, 2016 9:59 am
Forum: Personal Consumer Issues
Topic: Receiving refund for product in exchange for giving up right to sue
Replies: 9
Views: 1359

Re: Receiving refund for product in exchange for giving up right to sue

As usual, the lawyers are the only winners. Actually, I think society is the winner. These meritorious class actions act like private attorney generals. If these cases are not filed by lawyers (on a contingency basis), history suggests to me that corporations are much less likely to change their be...
by Chicago60
Thu Aug 25, 2016 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion or Tax Gain Harvest?
Replies: 11
Views: 998

Re: Roth Conversion or Tax Gain Harvest?

Kevin, thanks for those threads and suggested search terms. OP, my circumstances are very similar to yours. I, too, have been unable to reach a definitive determination on the correct approach to minimize taxes, nor have I seen any threads that have answered the question, although many have gracious...
by Chicago60
Tue Aug 23, 2016 7:46 am
Forum: Investing - Theory, News & General
Topic: Update: Emory & Columbia; New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt
Replies: 61
Views: 5029

Re: Update: & Columbia - Re: New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt

I wonder if there's going to be any consolidation. We're now at 9 lawsuits and counting, The lawsuits are filed in multiple jurisdictions so likely not consolidated in the traditional sense. But, the defendants might move that they be MDL'd (Multidistrict Litigation) and assigned to the same judge....
by Chicago60
Mon Aug 22, 2016 5:17 pm
Forum: Investing - Theory, News & General
Topic: Update: Emory & Columbia; New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt
Replies: 61
Views: 5029

Re: Update: & Columbia - Re: New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt

I wonder if there's going to be any consolidation. We're now at 9 lawsuits and counting, The lawsuits are filed in multiple jurisdictions so likely not consolidated in the traditional sense. But, the defendants might move that they be MDL'd (Multidistrict Litigation) and assigned to the same judge.
by Chicago60
Thu Aug 18, 2016 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Cash flow and Spending in Retirement
Replies: 18
Views: 1178

Re: Cash flow and Spending in Retirement

Depending of course on your circumstances and marginal tax bracket, you may want to sell some of the positions with gains held over a year and tax gain harvest.
by Chicago60
Wed Aug 17, 2016 4:09 pm
Forum: Investing - Theory, News & General
Topic: Update: Emory & Columbia; New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt
Replies: 61
Views: 5029

Re: Update: Emory & Columbia; New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt

Where do I find a lawyer to follow me around the grocery store to make sure I don't pick the wrong foods? And clearly we need to put a stop to online purchasing. How are the guardians supposed to supervise my shopping when it is done from home? I would not be the least surprised to see a suit again...
by Chicago60
Mon Aug 15, 2016 3:30 pm
Forum: Personal Consumer Issues
Topic: vacation ideas - October
Replies: 42
Views: 3351

Re: vacation ideas - October

Fall colors in New England would be quite nice, and I assume you can get there by car (if you do not travel too far east) within your time constraints.
by Chicago60
Mon Aug 15, 2016 3:22 pm
Forum: Personal Consumer Issues
Topic: What non-fiction tv shows or movies you like to stream on netflix, hulu ,and amazon?
Replies: 22
Views: 1967

Re: What non-fiction tv shows or movies you like to stream on netflix, hulu ,and amazon?

rec7 wrote:What non-fiction tv shows or movies you like to stream on netflix, hulu ,and amazon?


"Making of a Murderer" meets the requirements of your question and was compelling "TV" on Netflix.
by Chicago60
Mon Aug 15, 2016 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa 2% cash back
Replies: 31
Views: 3925

Re: Fidelity Rewards Visa 2% cash back

Anyone use this card? Do you like it? We have used Chase Freedom (now Unlimited) for the last 8 years. We've been happy with the card, the customer service, and the 1.5% cash back. It is the only cc we have, and we thought it might be wise to have a second. We are already Fidelity customers so 2% c...
by Chicago60
Mon Aug 15, 2016 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Where to report IRS impersonation scams
Replies: 26
Views: 1686

Re: Where to report IRS impersonation scams

Call your local police immediately. What do you expect some local policeman to do about a phone call from another country? I stand by my response. Your first phone call should be to your local police. They will know how to handle your complaint and escalate as needed. Sorry if you disagree. I disag...
by Chicago60
Mon Aug 15, 2016 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Any lawyers out there. Bike hits car, minor and parents have no insurance
Replies: 91
Views: 6683

Re: Any lawyers out there. Bike hits car, minor and parents have no insurance

I think this question (and many of the responses) is a subliminal Rorschach test revealing the backgrounds and biases of Bogleheads.
by Chicago60
Mon Aug 15, 2016 2:41 pm
Forum: Personal Consumer Issues
Topic: Advice about a stop in Chicago
Replies: 52
Views: 4436

Re: Advice about a stop in Chicago

Your hotel to Second City (the current show and performers are superb) is almost exactly 1.5 miles and worth it, if you can. They sometimes have tickets available on hottix for half price (plus fees): http://www.hottix.org/ The neighborhood for both the hotel and Second City are completely safe, day...
by Chicago60
Mon Aug 15, 2016 2:29 pm
Forum: Investing - Theory, News & General
Topic: Update: Emory & Columbia; New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt
Replies: 61
Views: 5029

Re: New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt

Where do I find a lawyer to follow me around the grocery store to make sure I don't pick the wrong foods? And clearly we need to put a stop to online purchasing. How are the guardians supposed to supervise my shopping when it is done from home? I would not be the least surprised to see a suit again...
by Chicago60
Wed Aug 10, 2016 12:38 pm
Forum: Investing - Theory, News & General
Topic: Update: Emory & Columbia; New Fiduciary cases: 403b's at MIT Yale NYU & Duke Hopkins Penn Vanderbilt
Replies: 61
Views: 5029

Re: New Fiduciary cases, about 403b's at MIT, Yale, & NYU

I personally don't like this at all, assuming that they did offer index funds with ER's below 0.10. This smacks of a law firm finding some cash cows - ones who don't want bad press - to sue and hoping to settle. I think it is sad... Who cares if Fidelity and MIT offered up 370 funds and some of the...
by Chicago60
Tue Aug 09, 2016 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: My friend doesn't meet the requirements for a conforming loan.
Replies: 32
Views: 2184

Re: My friend doesn't meet the requirements for a conforming loan.

Maybe she can borrow additional money from family so that the refinancing numbers prove more favorable.
by Chicago60
Tue Aug 09, 2016 11:31 am
Forum: Personal Finance (Not Investing)
Topic: My friend doesn't meet the requirements for a conforming loan.
Replies: 32
Views: 2184

Re: My friend doesn't meet the requirements for a conforming loan.

Does the divorce agreement provide parameters for her to get her ex off the mortgage and obtain a new loan (like a mortgage contingency would)? She should document all efforts she has made, and will make, in getting a new loan, conforming or otherwise. And, she probably should disclose to her divorc...
by Chicago60
Fri Aug 05, 2016 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Is my hypothetical retirement withdrawal plan sound?
Replies: 35
Views: 2840

Re: Is my hypothetical retirement withdrawal plan sound?

OP, this seems to work perfectly and is the very strategy I am working through. My question for you: change the hypothetical and double everything in taxable, basis in taxable, savings, and IRA. How would you determine how much to generate in harvesting gains at 0% taxes each year vs how much to con...
by Chicago60
Thu Aug 04, 2016 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Does Vanguard Allow Mega Backdoor Roth in an i401K?
Replies: 2
Views: 249

Does Vanguard Allow Mega Backdoor Roth in an i401K?

I opened a 401K at Vanguard this year as a sole proprietor and, as someone over 50, funded $24K with only the Roth component. I cannot find an answer to this question at the Vanguard website: can I contribute after tax money to the 401K and convert that contribution to a Roth?
by Chicago60
Thu Aug 04, 2016 11:01 am
Forum: Investing - Help with Personal Investments
Topic: No faith in stocks/bonds - Where to park cash?
Replies: 38
Views: 3809

Re: No faith in stocks/bonds - Where to park cash?

Hey BH, I don't have any faith in the stock market or bond market over the next year or so. Do I have any options other than 6month/1 year CDs or high yield savings accounts? I'm looking for capital preservation and slow slow slow growth - not trying to hit any HRs here. ATD Based on your age and c...
by Chicago60
Thu Aug 04, 2016 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Has Anyone Filed a Formal Complaint Against a Real Estate Licensee
Replies: 30
Views: 2219

Re: Has Anyone Filed a Formal Complaint Against a Real Estate Licensee

Update: The Bureau has a very narrow administration purview with a focus on administrative actions that are illegal for licensees (or actions that require a license). Their function is basically to suspend or revoke licensees. I'm just concerned that with someone this crazy you don't know what he w...
by Chicago60
Sat Jul 30, 2016 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Roth 401k for high earners
Replies: 21
Views: 2315

Re: Roth 401k for high earners

I'd place the 18K in a 401K for the current year. At $1 million/year this year, you KNOW you are in the highest tax bracket and can take advantage of the deduction. At what may be early retirement, you may not have other income other than your capital gains and qualified dividends, which would not p...
by Chicago60
Sat Jul 30, 2016 11:44 am
Forum: Personal Finance (Not Investing)
Topic: NYS Law: Should Umbrella Insurance Policy Cover Value of Retirement Accounts?
Replies: 7
Views: 901

Re: NYS Law: Should Umbrella Insurance Policy Cover Value of Retirement Accounts?

If you cause a loss, either you or your insurance company should pay for those damages, regardless of your net worth or the your asset-protection strategy. Very well said. Insurance companies deal with liability claims on a daily basis. Even when their claims committees and highly competent defense...
by Chicago60
Sat Jul 30, 2016 11:35 am
Forum: Investing - Theory, News & General
Topic: Roth Conversion
Replies: 4
Views: 333

Re: Roth Conversion

Yes. You may want to consider doing some searches within the forum for some suggestions on when it is economically advantageous to do so, and at what dollar amounts.
by Chicago60
Fri Jul 29, 2016 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Should I worry about FDIC limits if only a short time period is involved?
Replies: 21
Views: 1365

Re: Should I worry about FDIC limits if only a short time period is involved?

Nobody lost any money even during the financial crisis. Even the customers at the few banks that went under who had more than deposits than the FDIC insures didn't lose any money. I am not sure this is accurate. To be sure, when a financial institution goes under and the FDIC finds another to take ...
by Chicago60
Fri Jul 29, 2016 11:33 am
Forum: Personal Consumer Issues
Topic: Auto repair consumer fraud - lawyer
Replies: 10
Views: 1008

Re: Auto repair consumer fraud - lawyer

... If we contact a lawyer what kind should it be, we are in Chicago. I'm sure they will consult for free. ... ... I'm feeling pretty defeated at this point, not because of any lawsuit, but the thought of being out hundreds of dollars for a repair (parts were about $700 from DH's quick lookup) that...
by Chicago60
Fri Jul 29, 2016 6:57 am
Forum: Personal Consumer Issues
Topic: Need advice, dealer sold me wrong year golf cart
Replies: 35
Views: 2252

Re: Need advice, dealer sold me wrong year golf cart

Your solution, and first step, is simple: listen to your wife. Your second step may be your problem: what do you do if/when the dealer refuses to take back the cart with a full refund?
by Chicago60
Thu Jul 28, 2016 2:47 pm
Forum: Personal Consumer Issues
Topic: Auto repair consumer fraud - lawyer
Replies: 10
Views: 1008

Re: Auto repair consumer fraud - lawyer

Contact the Chicago Bar Association and ask for a referral for a Consumer Fraud lawyer.
by Chicago60
Wed Jul 27, 2016 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Should I worry about FDIC limits if only a short time period is involved?
Replies: 21
Views: 1365

Re: Should I worry about FDIC limits if only a short time period is involved?

Nobody lost any money even during the financial crisis. Even the customers at the few banks that went under who had more than deposits than the FDIC insures didn't lose any money. I am not sure this is accurate. To be sure, when a financial institution goes under and the FDIC finds another to take ...
by Chicago60
Wed Jul 27, 2016 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Question on Lender practice financing guaranty
Replies: 4
Views: 251

Re: Question on Lender practice financing guaranty

HUEY's suggestion above is sound. Hiring a local lawyer to review the docs and give you advice with experience in this specific field may also reveal, if you have the time, whether competitive financial institutions would likely loan the Company the money given the collateral without a personal guar...
by Chicago60
Wed Jul 27, 2016 9:56 am
Forum: Investing - Help with Personal Investments
Topic: New retiree seeking ideas for keeping portfolio proportions while minding taxes
Replies: 11
Views: 1198

Re: New retiree seeking ideas for keeping portfolio proportions while minding taxes

I would consider if this strategy made sense for you: (1) in year one, harvest capital gains in the brokerage account up to the very top of the 15% tax bracket which will effectively provide these gains tax free; (2) maintain your AA to your comfort level by using the excess of these gains over your...
by Chicago60
Wed Jul 27, 2016 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Should I worry about FDIC limits if only a short time period is involved?
Replies: 21
Views: 1365

Re: Should I worry about FDIC limits if only a short time period is involved?

"Short time period" for this issue in my mind is a day, or two. If I had to make a deposit in excess of FDIC limits, and the funds were going to sit in the financial institution for a day or two, I would probably not go through the hassle of depositing in 2 (or more) financial institutions...

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