Search found 31 matches

by SlowMovingInvestor
Sun Jan 22, 2017 7:07 am
Forum: Investing - Help with Personal Investments
Topic: Alternative investments to prepaying Mortgage
Replies: 19
Views: 1888

Re: Alternative investments to prepaying Mortgage

I've about 5 years left on a 10 year 3.25% mortgage and am wondering whether to prepay the balance (around 150K) in one lump sum. I do have that much in cash, and do not anticipate needing it in the next 5 years. 401k IRA, fully maxed out each year, large emergency fund. See Paying down loans versu...
by SlowMovingInvestor
Fri Jan 20, 2017 2:43 pm
Forum: Investing - Help with Personal Investments
Topic: Alternative investments to prepaying Mortgage
Replies: 19
Views: 1888

Re: Alternative investments to prepaying Mortgage

I've about 5 years left on a 10 year 3.25% mortgage and am wondering whether to prepay the balance (around 150K) in one lump sum. I do have that much in cash, and do not anticipate needing it in the next 5 years. 401k IRA, fully maxed out each year, large emergency fund. See Paying down loans versu...
by SlowMovingInvestor
Wed Jan 18, 2017 12:26 am
Forum: Investing - Help with Personal Investments
Topic: Alternative investments to prepaying Mortgage
Replies: 19
Views: 1888

Re: Alternative investments to prepaying Mortgage

The part that is missing from the analysis is how you will pay the monthly mortgage payment each month if you keep the mortgage. In order to buy a bunch of muni funds that matured in time to pay the mortgage payment you would need to also buy a funds that matured in the years 1 to 4 as well and tho...
by SlowMovingInvestor
Tue Jan 17, 2017 11:51 pm
Forum: Investing - Help with Personal Investments
Topic: Alternative investments to prepaying Mortgage
Replies: 19
Views: 1888

Re: Alternative investments to prepaying Mortgage

Based on the info you provided (150k balance remaining on a 10 year loan @ 3.25%), I back calculated your original mortgage was for about $280k, with a monthly payment of $2736 (assuming no additional payments on principal). You would have paid 35,500 in interest so far over 5 years. You have about...
by SlowMovingInvestor
Mon Jan 16, 2017 7:22 pm
Forum: Investing - Help with Personal Investments
Topic: Alternative investments to prepaying Mortgage
Replies: 19
Views: 1888

Alternative investments to prepaying Mortgage

I've about 5 years left on a 10 year 3.25% mortgage and am wondering whether to prepay the balance (around 150K) in one lump sum. I do have that much in cash, and do not anticipate needing it in the next 5 years. 401k IRA, fully maxed out each year, large emergency fund. Right now,that sum in cash i...
by SlowMovingInvestor
Wed Jan 11, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Denied Checking Account by Citibank
Replies: 15
Views: 1863

Re: Denied Checking Account by Citibank

Do you have a credit freeze on your Equifax info? If so, I suggest a temporary lift of that freeze and reapply. Now that you mention it -- I do have a credit fraud alert on my account- -- but I opened an AMEX credit card even with that. it just required Amex to call me back when a credit request is...
by SlowMovingInvestor
Wed Jan 11, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Denied Checking Account by Citibank
Replies: 15
Views: 1863

Re: Denied Checking Account by Citibank

Equifax reports are sometimes used to verify identity, whereas chexsystems is used to verify your check writing "credit worthiness". You likely gave a piece of information that failed their identification verification protocol and it booted you. That's what I think -- in fact, I think I d...
by SlowMovingInvestor
Wed Jan 11, 2017 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Denied Checking Account by Citibank
Replies: 15
Views: 1863

Re: Denied Checking Account by Citibank

Hmmm, it could relate to the fact that you opened another account just two weeks ago. The bank's computer may have flagged it as suspicious, a possible check kiting scheme in the offing. I don't think so -- I gather Chexsystems only reports adverse events like fraud, check kiting etc. Not account o...
by SlowMovingInvestor
Wed Jan 11, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Denied Checking Account by Citibank
Replies: 15
Views: 1863

Denied Checking Account by Citibank

I tried to open a Checking Account with Citibank online recently and was rejected. I got a letter from them saying that it had been rejected because of information provided by 'Equifax'. I was naturally surprised (my credit score is over 800), I have several credit cards and a mortgage with Citibank...
by SlowMovingInvestor
Fri Dec 30, 2016 11:49 pm
Forum: Personal Finance (Not Investing)
Topic: Multiple payments of estimated income taxes
Replies: 4
Views: 347

Re: Multiple payments of estimated income taxes

[ If you make an unreasonable overpayment, you are not entitled to the deduction. But even if you make an overpayment with a reasonable basis, so that the IRS allows the deduction, you'll come out behind in your tax bracket. If you overpay by $1000, you can deduct $1000 this year. But you will have...
by SlowMovingInvestor
Fri Dec 30, 2016 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Multiple payments of estimated income taxes
Replies: 4
Views: 347

Re: Multiple payments of estimated income taxes

I don't know NJ law, but it would be a deduction if you mailed it tomorrow, even if refunded to you next year. I can't imagine they wouldn't accept it. Gill I was thinking the same thing too -that NJ or any state should be happy to get more money. I just don't know if their system is setup to prope...
by SlowMovingInvestor
Fri Dec 30, 2016 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Multiple payments of estimated income taxes
Replies: 4
Views: 347

Multiple payments of estimated income taxes

I was wondering if one can make multiple payments of estimated personal income taxes for the state of NJ in a quarter. I already made a payment for the 4th quarter (i.e this quarter) for NJ using a credit card ( I needed to manufacture some spend for a signup bonus). Now I realize that I underestima...
by SlowMovingInvestor
Sat Dec 17, 2016 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: PenFed CD
Replies: 3
Views: 878

PenFed CD

I saw online that PenFed is offering 1.36% 1 year CDs. I am not a PenFed member, but I am eligible and that looks like a good rate. I found their web site a little clunky when trying to open a CD -- it sent me to a page asking me to call a rep. Can I only open a CD by calling ? Or do I open an accou...
by SlowMovingInvestor
Mon Dec 05, 2016 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about chase 5/24 rule
Replies: 15
Views: 1684

Re: Confused about chase 5/24 rule

[ Chase offers a no-fee United Mileage card. Less bennies and frills than the Plus card: but free. It gives a mile for every $2. You can downgrade from United Plus with a phone call. I've never seen that card or any ad for it on Chase's site. Is it just a 'save card', that's only used by agents whe...
by SlowMovingInvestor
Sat Nov 26, 2016 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing federal withholding
Replies: 9
Views: 1173

Re: Reducing federal withholding

SlowMoving - Do you know how long it is going to take your employer to implement the new withholding once you submit it? Tom, I think they can make the change in time for the remaining 2 pay periods this year. Thanks for all the comments. I think I will up Federal (and also state) withholding up as...
by SlowMovingInvestor
Sat Nov 26, 2016 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing federal withholding
Replies: 9
Views: 1173

Reducing federal withholding

I had asked my employer for extra Federal withholding on a W-4 earlier this year since I expected more income this year. I now realize I've reached 110% of last year's taxes (safe harbor) already. Not only do I not need extra withholding, I do not need ANY withholding for the 2 remaining paychecks t...
by SlowMovingInvestor
Wed Nov 23, 2016 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Checking IRS refund applied to next year's return
Replies: 11
Views: 1022

Re: Checking IRS refund applied to next year's return

The IRS takes forevvvver to process a paper filed tax return. Last year, I filed around December (yes, I was late) and until the return was processed, it was around APRIL. Similar to you, I had a refund applying to the tax year after. As you did, I asked for transcripts and nothing would show on th...
by SlowMovingInvestor
Wed Nov 23, 2016 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Checking IRS refund applied to next year's return
Replies: 11
Views: 1022

Re: Checking IRS refund applied to next year's return

As far as I know, having the refund applied to next year's taxes isn't any more effective than taking the refund and then paying an estimated tax. That is what I do. Since the OP filed late in the year for TY 2015, if the refund, once received, is paid toward this year's estimated tax, wouldn't it ...
by SlowMovingInvestor
Wed Nov 23, 2016 5:44 am
Forum: Personal Finance (Not Investing)
Topic: Checking IRS refund applied to next year's return
Replies: 11
Views: 1022

Checking IRS refund applied to next year's return

I filed my federal taxes late (around 8-10 weeks ago), using a paper return. I asked for my refund to be applied to next year (since I didn't think I could withhold enough in my remaining paychecks to avoid underpayment penalties). I tried checking the IRS web site '"here's my refund" and ...
by SlowMovingInvestor
Sun Oct 09, 2016 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Living Will
Replies: 7
Views: 840

Re: Living Will

BSteiner, thanks again. That was extraordinarily helpful. I have some good questions for my lawyer now (including the one about the living trust -- perhaps I misunderstood her comments). The lawyer did briefly mention the inheritance tax, but I figure we're unlikely to retire in NJ or have real prop...
by SlowMovingInvestor
Sun Oct 09, 2016 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Living Will
Replies: 7
Views: 840

Re: Living Will

Wills with marital and credit shelter (bypass) provisions and trusts for children are standard. Our clients provide for their children in separate trusts for their benefit rather than outright. That keeps the children's inheritances out of their estate for estate tax purposes, and protects their in...
by SlowMovingInvestor
Sun Oct 09, 2016 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Living Will
Replies: 7
Views: 840

Living Will

I am a participant in a workplace legal plan (Hyatt). My wife and I (we're around 50) visited a lawyer from the plan about getting a will, living will, power of attorney etc. made up. We also need a qualified domestic trust (since my wife is a permanent resident, but not a US citizen). Our assets ar...
by SlowMovingInvestor
Mon Oct 03, 2016 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Rollover to 401k from nondeductible IRA
Replies: 16
Views: 1396

Re: Reverse Rollover to 401k from nondeductible IRA

Very BAD IDEA. They won't track your basis in your 401k and when you eventually roll the 401k into an IRA they will send the you AND the IRS a 1099-R indicating that you had no basis in the 401k. Your attempted "end run" around your employer is quite likely to cause a whole lot of trouble...
by SlowMovingInvestor
Sun Oct 02, 2016 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Rollover to 401k from nondeductible IRA
Replies: 16
Views: 1396

Re: Reverse Rollover to 401k from nondeductible IRA

Thanks for the comments. I've gone ahead with the partial reverse rollover into my 401k. In my case, there are some constraints on converting the remaining part of my Traditional IRA to a Roth IRA immediately. There is a little confusion in my workplace because of a takeover. I'm not sure whether ou...
by SlowMovingInvestor
Sun Sep 25, 2016 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Multiple Mutual Fund Accounts at Vanguard
Replies: 1
Views: 356

Multiple Mutual Fund Accounts at Vanguard

I hold a number of mutual funds at Vanguard. The number of separate mutual fund holdings passed 25 when I bought a new fund (this includes several holdings with a zero balance, where MFs were converted from regular to Admiral when they crossed the balance threshold), and Vanguard created a separate ...
by SlowMovingInvestor
Thu Sep 22, 2016 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Rollover to 401k from nondeductible IRA
Replies: 16
Views: 1396

Re: Reverse Rollover to 401k from nondeductible IRA

Suppose I have 120K in my account, 80K basis, 40 K earnings. All is in cash except 10K iliquid). Suppose I reverse rollover 40K to my 401k plan, and wait till the end of the year to convert to a Roth. In that time, the value of the illiquid holding falls to 5K. So the amount I have left in the IRA ...
by SlowMovingInvestor
Thu Sep 22, 2016 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Rollover to 401k from nondeductible IRA
Replies: 16
Views: 1396

Re: Reverse Rollover to 401k from nondeductible IRA

So I'm going ahead with a partial reverse rollover (of untaxed earnings) to 401k from nondeductible IRA and converting the rest to a Roth IRA. For complicated reasons related to my workplace, I need to do the partial rollover now, but cannot convert the remainder (my basis) to a Roth IRA until Decem...
by SlowMovingInvestor
Sun Sep 18, 2016 8:57 pm
Forum: Investing - Help with Personal Investments
Topic: Buying Vanguard ETFs
Replies: 3
Views: 734

Re: Buying Vanguard ETFs

Thanks. Actually my originally post was a little mixed. I meant to say ' I'm wondering whether it makes sense to buy a Vanguard ETF at TD Ameritrade'. And you answered that question.
by SlowMovingInvestor
Sun Sep 18, 2016 8:29 pm
Forum: Investing - Help with Personal Investments
Topic: Buying Vanguard ETFs
Replies: 3
Views: 734

Buying Vanguard ETFs

I have a Vanguard Mutual Fund account, and an account with TD Ameritrade. A few Vanguard ETFs are offered commission free at TD Ameritrade. I'm wondering whether it makes sense to open a VBS account and buy a Vanguard ETF at TD Ameritrade rather than open an Vanguard Brokerage Account to buy the ETF...
by SlowMovingInvestor
Sun Sep 11, 2016 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Rollover to 401k from nondeductible IRA
Replies: 16
Views: 1396

Re: Reverse Rollover to 401k from nondeductible IRA

Alan, Clyde, thanks. The 401k plan definitely accepts traditional IRA contributions. Its mentioned in the plan docs, and a representative from the mutual fund company that administers the plan confirmed that they did. And the same company also holds my traditional IRA, but they don't officially know...
by SlowMovingInvestor
Sun Sep 11, 2016 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Rollover to 401k from nondeductible IRA
Replies: 16
Views: 1396

Reverse Rollover to 401k from nondeductible IRA

Hello I'm a long time Vanguard Investor, and I'm glad to find this forum. Lots of useful information here. The bulk of my investments are held at Vanguard, but my question is not really about Vanguard. As it happens, my 401k is at another large mutual fund house, and (for historical reasons), so is ...

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