Search found 346 matches

by FB01
Sun Aug 28, 2016 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits - Basics
Replies: 30
Views: 2301

Re: Social Security - Spousal Benefits - Basics

Sorry guys... this is really new to me. I just want to clarify if someone can simply answer yes or no - My wife does not have 40 credit. If i retire (whatever age), there will also be SS Spousal benefit. If I am getting $3000, my wife will also get $1500 (even though she has not worked to reach cre...
by FB01
Sat Aug 27, 2016 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits - Basics
Replies: 30
Views: 2301

Re: Social Security - Spousal Benefits - Basics

......If i retire (whatever age), there will also be SS Spousal benefit. If I am getting $3000, my wife will also get $1500 (even though she has not worked to reach credit) so totally...I will be getting a check of $4500 every month... Is my understanding correct? Can you anyone please confirm. -JR...
by FB01
Sat Aug 27, 2016 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Spousal Benefits - Basics
Replies: 30
Views: 2301

Re: Social Security - Spousal Benefits - Basics

Sorry guys... this is really new to me. I just want to clarify if someone can simply answer yes or no - My wife does not have 40 credit. If i retire (whatever age), there will also be SS Spousal benefit. If I am getting $3000, my wife will also get $1500 (even though she has not worked to reach cred...
by FB01
Thu Aug 18, 2016 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: Geico Mechanical Breakdown Insurance - Is it worth it
Replies: 13
Views: 1002

Re: Geico Mechanical Breakdown Insurance - Is it worth it

Thank you all for your feedback.

I called Geico and cancelled the MBI. They refunded the pro-rata charge back to my credit card.

-JR
by FB01
Thu Aug 18, 2016 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Geico Mechanical Breakdown Insurance - Is it worth it
Replies: 13
Views: 1002

Geico Mechanical Breakdown Insurance - Is it worth it

Hi, I just bought a new Honda Odyssey van and my insurance is with Geico. I was checking and they have added Mechanical Breakdown Insurance which is $36 for 6 months. The van is my secondary vehicle and will be using in the weekend for pleasure trips so will be using using 4000-5000 miles for 6 mont...
by FB01
Tue Aug 16, 2016 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Pay mortgage vs money in taxable VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares)
Replies: 5
Views: 828

Re: Pay mortgage vs money in taxable VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares)

[quote="grabiner"]See Paying down loans versus investing on the wiki. Hi Grabiner The second question is determined by bond returns. Given your $700K mortgage, I would assume you are in a high tax bracket, and thus you might well earn more on municipal bonds than by paying down the mortgag...
by FB01
Mon Aug 15, 2016 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Pay mortgage vs money in taxable VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares)
Replies: 5
Views: 828

Pay mortgage vs money in taxable VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares)

Hi all, Just want some suggestion from you guys as I am not sure what should I be doing. I have 700,000 mortgage loan @ 3.25%. I have emergency fund of around 100K invested. However, I also have around 30K in VTSAX (Vanguard Total Stock Market Index Fund Admiral Shares). Is it good idea to sell 30K ...
by FB01
Thu Aug 11, 2016 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: Additional 10k - Roth, 529 or Mortgage
Replies: 9
Views: 653

Re: Additional 10k - Roth, 529 or Mortgage

bnes wrote:Your marginal tax bracket? do you itemize? The mortgage interest tax subsidy shifts these numbers.



Am in 25%.

I bought the house this year so will be itemizing from next year.

Thanks,
JR
by FB01
Thu Aug 11, 2016 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: Additional 10k - Roth, 529 or Mortgage
Replies: 9
Views: 653

Additional 10k - Roth, 529 or Mortgage

Hi, I have additional 10K and also have my emergency fund. What should be the boglehead approach where to put it Option 1 : Should I put as additional Principal for my Mortgage which is 700K @ 3.25% Option 2 : Put 10K in Roth IRA Option 3 : Put 10K in 529 to fund kids education (Kids are 5 and 2) Th...
by FB01
Sat Aug 06, 2016 12:58 pm
Forum: Personal Consumer Issues
Topic: Any idea about ProForm® Sport 6.0 Treadmill - Costco
Replies: 4
Views: 615

Re: Any idea about ProForm® Sport 6.0 Treadmill - Costco

I have a higher price-point ProForm, but not this specific model. Treadmill Doctor also does not have a review of this model. From the warranty periods and price point, it looks to be a bit on the low-budget side. Do you plan to just walk on this or will you also be jogging and running? My plan is ...
by FB01
Fri Aug 05, 2016 12:17 pm
Forum: Personal Consumer Issues
Topic: Any idea about ProForm® Sport 6.0 Treadmill - Costco
Replies: 4
Views: 615

Any idea about ProForm® Sport 6.0 Treadmill - Costco

Hi,

Has anyone used ProForm® Sport 6.0 Treadmill which is available in Costco?

I am planning to buy this one but wanted any suggestion/opinion if someone has used this one before.

Thanks,
JR
by FB01
Thu Aug 04, 2016 12:20 pm
Forum: Investing - Help with Personal Investments
Topic: Selling a house which is not paid off
Replies: 17
Views: 1716

Selling a house which is not paid off

Hi, Just curious if anyone can explain how the process works in terms of money. E.g Bought a house for 1 million and paid 20% dp. Got loan of 800K. Now after 5 years, if I sell the house for 1.5 million, what happens about the unpaid mortgage as the house is not paid of. How does it affect me? Any i...
by FB01
Sun Jul 24, 2016 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: 529 plans?
Replies: 31
Views: 3233

Re: 529 plans?

I assume you read the wiki article on this? https://www.bogleheads.org/wiki/529_plan There are also lots of great discussions on pros/cons if you search for other threads. Personally I love 529s - since there are so few tax-advantaged saving mechanisms why not take advantage of all those available ...
by FB01
Sat Jul 23, 2016 9:22 pm
Forum: Investing - Help with Personal Investments
Topic: Dump $5500 to Roth IRA on Day 1 of every year or split contribution to 12 months?
Replies: 32
Views: 3063

Re: Dump $5500 to Roth IRA on Day 1 of every year or split contribution to 12 months?

This is an interesting question. I always try to contribute the full amount as soon as possible. The only reason not to do this is if you think you might exceed the contribution limits. If this is the case - you might think about dollar cost averaging a little every month. As it gets closer to the ...
by FB01
Thu Apr 28, 2016 8:58 pm
Forum: Personal Consumer Issues
Topic: To do Fumigation or not?
Replies: 2
Views: 379

To do Fumigation or not?

Hello, I just bought house which is 36 years old. We did Pest inspection and there are couple of spot where dry wood termite were found. I did the inspection with 3 companies and all 3 companies said Fumigation is not required as termites can be locally treated. However am in double mind..do still I...
by FB01
Wed Apr 27, 2016 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance or pay extra money towards principal - which is better in saving interest
Replies: 8
Views: 927

Re: Refinance or pay extra money towards principal - which is better in saving interest

Option 1 sounds more like a Recast than a Refinance. A Recast will not save you any interest and may very well cost you additional interest instead if you don't continue monthly payments in the amount you were prior to that Recast. Option 2 will save you interest as would applying any amount of add...
by FB01
Wed Apr 27, 2016 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Refinance or pay extra money towards principal - which is better in saving interest
Replies: 8
Views: 927

Refinance or pay extra money towards principal - which is better in saving interest

Hi, Suppose I buy 1,000,000 house got 3.50% for 30 years. I paid down payment of 20% so I got loan for 800,000 so my monthly payment comes to approx $3600. Now, I have $50,000 money which I would like pay. Which will help me in saving better in interest Option 1 : Refinance with my mortgage company ...
by FB01
Tue Feb 23, 2016 11:35 am
Forum: Investing - Help with Personal Investments
Topic: Question regarding form 8606
Replies: 10
Views: 541

Re: Question regarding form 8606

okay... So for this question I answered "Yes" even though I contributed to Roth IRA in 2015 Q- "Did I make Roth IRA contribution in 2015? Answer yes if you haven't contributed to a Roth IRA yet, but plan to by April 18,2016"" Next Question Enter Total Roth IRA Contribution f...
by FB01
Tue Feb 23, 2016 11:05 am
Forum: Investing - Help with Personal Investments
Topic: Question regarding form 8606
Replies: 10
Views: 541

Re: Question regarding form 8606

Hi, This is the first question i am getting Select the kind of IRA's I will contribute for 2015. If you own or contribute to both traditional IRA and Roth IRA , check both here and we will work on traditional IRA first I am checking Roth IRA then it says " Did I make Roth IRA contribution in 20...
by FB01
Tue Feb 23, 2016 10:49 am
Forum: Investing - Help with Personal Investments
Topic: Question regarding form 8606
Replies: 10
Views: 541

Re: Question regarding form 8606

-Tell us I made contribution to Tradional IRA for 2015. I answer YES So, answer NO for this question because you didn't make a traditional IRA contribution. What happens? Wow..no complication now.. Initially, it asked me "Select the kind of IRA's I will contribute for 2015. If you own or contr...
by FB01
Tue Feb 23, 2016 10:31 am
Forum: Investing - Help with Personal Investments
Topic: Question regarding form 8606
Replies: 10
Views: 541

Re: Question regarding form 8606

I don't think you made a contribution to a traditional IRA in 2015. From a quick read of what you wrote in the first post of this thread (meaning I could have this wrong): 1. You made a Roth IRA contribution. 2. You recharacterized the Roth IRA to a traditional IRA. 3. You converted a traditional I...
by FB01
Tue Feb 23, 2016 10:06 am
Forum: Investing - Help with Personal Investments
Topic: Question regarding form 8606
Replies: 10
Views: 541

Question regarding form 8606

Hi, Have question regarding form 8606 as not sure what to fill where? I contributed 5500 to Roth IRA in 2015 but my income exceed by end of year so I did backdoor Roth IRA My Roth IRA increased to 6000 which I transferred to Traditional IRA and then when I moved from traditional IRA to Roth IRA, the...
by FB01
Mon Feb 22, 2016 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: Tax form to be filled for Back Door Roth IRA
Replies: 8
Views: 612

Re: Tax form to be filled for Back Door Roth IRA

DSInvestor wrote:The 1099-R covers the Roth conversion and not the TIRA contribution. Make sure to enter your Traditional IRA contributions as well into your tax software.


So 8606 is the only form I need to fill or is there any other form?

JR
by FB01
Mon Feb 22, 2016 11:12 am
Forum: Investing - Help with Personal Investments
Topic: Tax form to be filled for Back Door Roth IRA
Replies: 8
Views: 612

Tax form to be filled for Back Door Roth IRA

Hi, I had put money in Roth IRA but my income exceeded the limit so end of the FY 2015, I did the Back door Roth IRA for me and my wife's account. Because of this I had some gain/loss. I read that I had to fill form 8606. Vanguard has send me form 1099-R. Is that the one I need to update in form 860...
by FB01
Sat Feb 20, 2016 1:24 pm
Forum: Personal Consumer Issues
Topic: Trip to LA for 5 days
Replies: 30
Views: 2273

Re: Trip to LA for 5 days

Hello all,

Thank your for all the inputs.

Quick question: Are the LA beaches cold June? In Bay Area, any point of time the water in the sea is cold...is it the same in LA also..like Newport, Venice, Laguna etc..

-JR
by FB01
Wed Feb 17, 2016 4:19 pm
Forum: Personal Consumer Issues
Topic: Trip to LA for 5 days
Replies: 30
Views: 2273

Trip to LA for 5 days

Hi, I will be driving to LA from Bay Area for 5 days. I am with 2 young kids (6 and 3). My main purpose is to go for Disneyland so I will be staying near Anaheim. So far I am planing below. Any other ideas are welcome 1 day - Disneyland 2nd day - Universal Studio 3rd day - Laguna beach and Venice Be...
by FB01
Fri Nov 20, 2015 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Back door Roth IRA for 2016
Replies: 1
Views: 330

Back door Roth IRA for 2016

Hi, For 2015, I contributed to Roth IRA and then my income increased more that 183K so I will be calling Vanguard to recharacterize Roth to Traditional IRA. Question for 2016: Now, I am not sure if my income will be more that 183K next year. So should I contribute to Roth IRA on first day of 2016 an...
by FB01
Tue Nov 17, 2015 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Roth contributed - Income exceeded - one last check
Replies: 6
Views: 495

Re: Roth contributed - Income exceeded - one last check

Is there anything you can do to reduce your AGI before year end? If spouse has 401k that is not maxed out, max that out before Dec 31. HSA contributions. Tax loss harvest in the taxable account to offset capital gains. Net capital loss can reduce AGI by up to 3K. Hi DSInvestor, My wife does not wor...
by FB01
Tue Nov 17, 2015 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Roth contributed - Income exceeded - one last check
Replies: 6
Views: 495

Re: Roth contributed - Income exceeded - one last check

Note that the MAGI phaseout is 183-193k, so if MAGI is within the range, you only need to do a partial recharacterization, keeping the amount you are eligible to contribute in the Roth. That will avoid taxes on the share of the earnings attributed to the amount of the partial Roth contribution you e...
by FB01
Tue Nov 17, 2015 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Roth contributed - Income exceeded - one last check
Replies: 6
Views: 495

Re: Roth contributed - Income exceeded - one last check

For example a married couple who have 210K of gross salary who maxes out Traditional 401k for 18K would have AGI of 174K and be eligible for direct Roth IRA contributions.[/quote] Hi DSInvestor, I forgot to mention. After deducting my 18K for 401k, my income exceeds 183K. Would appreciate if the pro...
by FB01
Tue Nov 17, 2015 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Roth contributed - Income exceeded - one last check
Replies: 6
Views: 495

Roth contributed - Income exceeded - one last check

Hi, I am going to call Vanguard today but want to just confirm again the process as this is my first time Summary : I contributed 11000 for me any wife in Roth for 2015 and now my income is going to exceed 183K. Need to do : I will call Vanguard and ask them to recharacterize the Roth to Traditional...
by FB01
Tue Aug 04, 2015 10:52 am
Forum: Personal Consumer Issues
Topic: Cancelling credit after first year?
Replies: 6
Views: 669

Cancelling credit after first year?

Hi, I had got Southwest Chase credit card and United Explorer Mileage credit card just for the miles. Now a year is up and I will be charged the annual fee. Is it good idea to cancel the cards? I won't be using those cards. Also,I am planning to buy a house pretty soon so will canceling the card be ...
by FB01
Mon Aug 03, 2015 12:21 am
Forum: Personal Finance (Not Investing)
Topic: Credit Card Rewards (Travel)
Replies: 284
Views: 41711

Re: Credit Card Rewards (Travel)

Since June 2014, between two people, all are the sign-up portions: 1. 70K Chase UR (via Chase Ink Plus, $0 fee first year), 2. 55K United (via Chase United MP, $0 fee first year), 3. 40K US Airways (via Barclays, $89 fee), 4. 100K American (via Citibank Executive AA Card, $450 fee, $200 rebated; al...
by FB01
Sun Aug 02, 2015 5:36 pm
Forum: Personal Consumer Issues
Topic: Aloha Mind math for 5 year old
Replies: 8
Views: 2244

Aloha Mind math for 5 year old

Hello,

My kid will be turning 5 next month and planning to put her in Aloha Math mind. Do any of you guys recommend to keep her in that early age or should I enroll her later when she is in 2nd/3rd grade.

Does it really helps? If anybody who has the experience, would appreciate.

Thanks,
FB
by FB01
Fri Jul 24, 2015 11:30 pm
Forum: Personal Consumer Issues
Topic: Wedding Reception
Replies: 68
Views: 9568

Re: Wedding Receiption

We had an open bar at our wedding. No cash bar and no tipping. Wine, beer, liquor, and specialty cocktails. Never heard one complaint and got a lot of thank yous and compliments. It may sound tacky, but the booze is what makes a wedding fun :) To answer your question, it isn't needed but if you do ...
by FB01
Tue Jul 21, 2015 12:20 pm
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1968

Re: 2007 Toyota Camry Issue

I just talked to my husband, who has owned an auto repair shop for over 20 years, and got his opinion. He says: 1. Try physically bouncing the car at both the front and rear ends. If the car continues to bounce more than once after you stop, the struts need to be replaced. Otherwise, they can wait....
by FB01
Tue Jul 21, 2015 12:21 am
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1968

Re: 2007 Toyota Camry Issue

Thank you all for your replies.

I called and independent auto repair shop and he quoted 450-500 for changing water pump and drive belt.

As you guys mentioned, Strut is not important to change immediately, I will go ahead and change water pump first.

-FB
by FB01
Mon Jul 20, 2015 1:33 pm
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1968

Re: 2007 Toyota Camry Issue

Thank you all for your inputs. My car is 2007 XLE and the quote given is from my dealer. I live in Bay Area, CA so I guess price should be higher. I thought Strut was important so I tried to contact some repair shop and he gave me quote of $800 for both front and rear strut. Dealer gave me quote of ...
by FB01
Mon Jul 20, 2015 11:40 am
Forum: Personal Consumer Issues
Topic: 2007 Toyota Camry Issue
Replies: 20
Views: 1968

2007 Toyota Camry Issue

Hi, I have a Toyota 2007 camry and have put on 62K miles. I went for the normal check up and the person said i have below 2 issues which needs repair and cost is around 3000 dollars 1) Struts : Front and Rear struts are leaking (Leaking Leve is 2) 2) Engine Water pump leaking and changing accessory ...
by FB01
Fri Jul 10, 2015 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Brokerage fees on Tax reporting
Replies: 1
Views: 235

Brokerage fees on Tax reporting

Hi, I bought 100 shares at $40 and there was brokerage fee of 7.00 dollars. So my principal amount is 100X40 = 4000 and net amount will be 4007 (plus $7 brokerage fees) I sold the same set of shares for $50. So my principal amount will be 5000 and net amount will be 4993 (minus $7 brokerage fees) Ne...
by FB01
Mon Jun 29, 2015 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1422

Re: Confusion about Roth IRA income contribution limit

-FB[/quote] The entire first page of the 1040 tax form is to get to your AGI. We do not know what your tax situation is. 1. Pls try to calculate your AGI and then make adjustments to get your MAGI for Roth IRA purposes. 2. Your number of 191K for MAGI for Roth IRA purposes is wrong. Here's a link to...
by FB01
Mon Jun 29, 2015 10:19 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1422

Re: Confusion about Roth IRA income contribution limit

For Roth IRA contribution income limit, I believe I need to see tax line item 37 in 1040 form which should not go beyond 193K for Married-Filling Jointly. Did you notice that DSInvestor mentioned the term Modified AGI? Line 37 is your AGI but what you need to calculate is the Modified AGI as define...
by FB01
Mon Jun 29, 2015 12:54 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1422

Re: Confusion about Roth IRA income contribution limit

FB, You may be able to do backdoor Roth contributions instead. See: https://www.bogleheads.org/wiki/Backdoor_Roth_IRA However, if you already have deductible contributions in any traditional IRA, you may have second thoughts. If you have questions, just ask. There are also many threads here that ta...
by FB01
Mon Jun 29, 2015 12:17 am
Forum: Investing - Help with Personal Investments
Topic: Housing Market in Southern California
Replies: 32
Views: 5090

Re: Housing Market in Southern California

hi,

My experience is totally opposite..I live in Bay area and whenever I go to see houses with good school district San Jose, Pleasanton etc...I see too many people coming to see 800-900K houses and the thing is they get sold within a week.

Crazy market...

-FB
by FB01
Mon Jun 29, 2015 12:11 am
Forum: Investing - Help with Personal Investments
Topic: Confusion about Roth IRA income contribution limit
Replies: 18
Views: 1422

Confusion about Roth IRA income contribution limit

Hello, For Roth IRA contribution income limit, I believe I need to see tax line item 37 in 1040 form which should not go beyond 193K for Married-Filling Jointly. I always do Standard deduction. This year I changed jobs and have got RSU's and might be getting some bonus (getting both for the first ti...
by FB01
Thu Jun 25, 2015 1:34 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterzing Roth IRA
Replies: 5
Views: 570

Re: Recharacterzing Roth IRA

You can open a Traditional IRA online. Call or email and ask Vanguard to recharacterize the Roth to Traditional. After they complete that and the money is in the Traditional, there will be a button to convert. It's pretty easy and you're right, you will have to pay taxes on the gains. Hello Mickens...
by FB01
Wed Jun 24, 2015 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterzing Roth IRA
Replies: 5
Views: 570

Recharacterzing Roth IRA

Hi, I contributed for my Roth IRA for this year for me and my wife and now I think my MAGI is going to increase so I will be recharacterzing my Roth. This is what I am going to do 1) Call Vanguard to open TIRA account for me and my wife. 2) Move the funds from Roth IRA account to those TIRA accounts...
by FB01
Fri May 22, 2015 9:06 pm
Forum: Investing - Help with Personal Investments
Topic: 529 before conceiving a child?
Replies: 12
Views: 1175

Re: 529 before conceiving a child?

hello,

If you definatly know you are going to have a baby, open it now. You can put yourself as beneficiary and can put your kids name whenever you want. I opened the account when my kid was born but if I had known the option, would have opened before. It is just about compound interest.

-FB
by FB01
Thu May 14, 2015 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Short term strategy
Replies: 2
Views: 370

Short term strategy

Hi, I generally go for long term investment in individual stock. However, I had a discussion with a friend he said that if he see 100 dollars up in the particular stock, he will immediately sell it and he does this frequently. Just wanted to check if any short term investor follow this type of strat...
by FB01
Wed Apr 22, 2015 1:00 am
Forum: Personal Finance (Not Investing)
Topic: MAGI exceed limit - Confirming Roth IRA transfer process
Replies: 12
Views: 1327

Re: MAGI exceed limit - Confirming Roth IRA transfer process

3) Transfer Roth IRA amount for 2015 (Contribution + Earnings) ..saying 6000 from my Roth iRA and 6200 from my wife's Roth IRA to the TIRA account in step 1 and 2 Use the word "recharacterize" instead of transfer. This is a "do over". It's as if you contributed to the TIRA all a...

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