Search found 538 matches

by WorkToLive
Mon Apr 17, 2017 11:55 am
Forum: Personal Consumer Issues
Topic: how much is reasonable amount to spend [on gymnastics]
Replies: 42
Views: 3056

Re: how much is reasonable amount to spend

My daughter is 11 and studies piano, violin, ballet, modern, and swimming. She is also a top student in a well regarded private school. Honestly, we pay a lot for her to do these things. Her activities are about $1,000/month and private school is another $25k/year. It's worth it to us because she i...
by WorkToLive
Sun Apr 16, 2017 7:48 pm
Forum: Personal Consumer Issues
Topic: how much is reasonable amount to spend [on gymnastics]
Replies: 42
Views: 3056

Re: how much is reasonable amount to spend

My daughter is 11 and studies piano, violin, ballet, modern, and swimming. She is also a top student in a well regarded private school. Honestly, we pay a lot for her to do these things. Her activities are about $1,000/month and private school is another $25k/year. It's worth it to us because she is...
by WorkToLive
Thu Apr 06, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Secretly entered two comma club
Replies: 44
Views: 6875

Re: Secretly entered two comma club

Don't know where you live but private K is about $35k/kid/year. If you can't sign up for that for 26 years (13 years*2 kids) don't start now.
by WorkToLive
Tue Mar 14, 2017 1:21 pm
Forum: Personal Consumer Issues
Topic: USAA 2.5% Cash Back Credit Card
Replies: 171
Views: 26726

Re: USAA 2.5% Cash Back Credit Card

Hi, sorry, just checking back because I wanted to let people know they use Equifax for the credit check so I had to unfreeze our credit through them. I was approved the next business day. To see the offer, I went to the app, chose the "Products" shopping bag icon on the home page, chose Ba...
by WorkToLive
Sat Mar 11, 2017 5:15 am
Forum: Personal Consumer Issues
Topic: USAA 2.5% Cash Back Credit Card
Replies: 171
Views: 26726

Re: USAA 2.5% Cash Back Credit Card

Applied for mine today. I'm in MD! It showed up (finally) on my app's Products tab. My credit is frozen so I'll have to work through that.
by WorkToLive
Tue Mar 07, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Reporting Recharacterized Roth IRA to Traditional IRA across 2 tax years
Replies: 6
Views: 404

Re: Reporting Recharacterized Roth IRA to Traditional IRA across 2 tax years

I checked and see my 2015 tax return shows the statement indicating the recharacterization occurred.

Do I understand that the 2016 1099-R should be reported on my 2015 return?? I'll have to amend it, then.
by WorkToLive
Mon Mar 06, 2017 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Reporting Recharacterized Roth IRA to Traditional IRA across 2 tax years
Replies: 6
Views: 404

Re: Reporting Recharacterized Roth IRA to Traditional IRA across 2 tax years

Ok, here's what I am gathering: --2015 tax return reports husband's Traditional IRA contribution only, though I didn't convert until Jan 2016. --2016 tax return has the 1099-R entered and an Explanation of the recharacterization that occurred on the 2015 contribution in calendar year 2016. Am I on t...
by WorkToLive
Sun Mar 05, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Reporting Recharacterized Roth IRA to Traditional IRA across 2 tax years
Replies: 6
Views: 404

Reporting Recharacterized Roth IRA to Traditional IRA across 2 tax years

In 2015, I contributed $5,500 to my husband's Roth IRA. In January 2016, I realized our AGI was too high to contribute to a Roth, so I recharacterized the contribution to a Traditional IRA. I am trying to figure out how to file my 2016 taxes. I only reported Traditional IRA contributions on my 2015 ...
by WorkToLive
Sun Feb 19, 2017 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for my Age - 28
Replies: 21
Views: 2195

Re: Advice for my Age - 28

You have a solid start--nice job! Do you have an emergency fund (3-6 months of expenses) somewhere accessible? Do you have access to an HSA? What are your goals?
by WorkToLive
Sun Feb 19, 2017 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: General thoughts on maxing HSA's
Replies: 9
Views: 1035

Re: General thoughts on maxing HSA's

We aren't allowed to post about hypothetical legislation here on Bogleheads. I am 42, max out my family HSA each year, and currently have about $40,000 in mine. I save my receipts and keep a record in a spreadsheet of each eligible medical expense. If I never need to pull cash out, I can match them ...
by WorkToLive
Sun Feb 12, 2017 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Poll: IT salary
Replies: 4
Views: 947

Re: Poll: IT salary

Don't know if I count, but I am an Infrastructure Program Manager supporting a Federal customer as a contractor. I own network, server, storage, telecom, patch/vulnerability management, and help desk functions. I make $155,000/year with no bonus and an average benefit package that includes a 2% reti...
by WorkToLive
Tue Jan 03, 2017 12:24 pm
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 29356

Re: Whats your number to walk away?

My number right now at age 42 is $6M to walk away. We are at $2.5M right now. My retirement goal is $5M because I'll be older, so I'm halfway there.
by WorkToLive
Mon Jan 02, 2017 5:49 am
Forum: Personal Consumer Issues
Topic: Yellowstone Tours Vs. Self-Guided
Replies: 28
Views: 2424

Re: Yellowstone Tours Vs. Self-Guided

Thank you, all! I think we will do the self-guided thing with the Visitor Center activities. This will be an inexpensive vacation, methinks. My partner has tons of patience and I'm a good spotter, so I think driving will be fine. We are planning a day trip to the Tetons and maybe one other day trip....
by WorkToLive
Sun Jan 01, 2017 9:44 pm
Forum: Personal Consumer Issues
Topic: Yellowstone Tours Vs. Self-Guided
Replies: 28
Views: 2424

Yellowstone Tours Vs. Self-Guided

We are planning a week-long family vacation to Yellowstone National Park in June 2017. Two adults and one 11 year old. We will have a rented car and are staying in a AirBnB condo so we will have a kitchen (needed due to multiple food allergies). My question is, do we need to book a tour bus or shoul...
by WorkToLive
Mon Dec 19, 2016 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Opening an investment account for children
Replies: 5
Views: 718

Re: Opening an investment account for children

I opened a UTMA for my daughter and put Total Stock Market Index and Total International Stock Market in it.
by WorkToLive
Fri Nov 18, 2016 9:10 am
Forum: Investing - Help with Personal Investments
Topic: Gearing up for Backdoor Roth in 2017
Replies: 8
Views: 1358

Gearing up for Backdoor Roth in 2017

Beginning in 2016, our income will generally exceed the Roth IRA Regular Contribution limits (or hover around it). I was able to open up a Backdoor Roth for myself and complete a TIRA followed by a conversion to Roth this year. However, my husband cannot due to his current job's SIMPLE IRA plan. My ...
by WorkToLive
Fri Nov 18, 2016 7:12 am
Forum: Investing - Help with Personal Investments
Topic: Removing Excess Contribution from Vanguard Coverdell IRA
Replies: 1
Views: 300

Removing Excess Contribution from Vanguard Coverdell IRA

I cannot seem to locate the form to remove an excess contribution from a Vanguard Coverdell IRA. Can anyone help?
by WorkToLive
Fri Oct 21, 2016 6:04 am
Forum: Investing - Help with Personal Investments
Topic: Good year to sell individual stock?
Replies: 2
Views: 408

Good year to sell individual stock?

Our AGI flirts with the Roth limits each year so I have been hesitant to sell my remaining 4 individual stocks that comprise about 6% of my portfolio. Due to a job change that included a vacation payout from the old job plus a raise and signing bonus at the new one, we will be out of Roth territory ...
by WorkToLive
Mon Oct 10, 2016 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: New job with not the greatest 401k
Replies: 5
Views: 619

Re: New job with not the greatest 401k

I can empathize as I am in the same position. I'm going to hold my nose for a year while maxing it out to the best option (.65 ER for a S&P 500 index :oops: ). Then, I'm going to put together a presentation about expense ratios and set up a meeting with HR and the CFO. As it is a small company a...
by WorkToLive
Fri Aug 05, 2016 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Understanding gift tax....
Replies: 11
Views: 1121

Re: Understanding gift tax....

Read the IRS guidance for a full discussion. Basically, you can give an annual amount each year without any documentation. If you wish to go above the annual amount, then you must file a form with the IRS and that will count against your basic (lifetime) exclusion. https://www.irs.gov/businesses/sma...
by WorkToLive
Thu Aug 04, 2016 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should I refinance w/ Aimloan?
Replies: 25
Views: 2285

Re: Should I refinance w/ Aimloan?

I used Aim Loan to refi to a 15 year about 6 years ago. Very smooth process. No issues.

I've since paid it off.
by WorkToLive
Wed Aug 03, 2016 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Marriage, budgeting, and taxable accounts
Replies: 41
Views: 3155

Re: Marriage, budgeting, and taxable accounts

We are married 13 years and allocate a small amount of play money each year. My spouse spends all of it and I have about $9,000 sitting in a crappy savings account. I don't have any use for it, but it gives me a bit of security to know it's there. It really makes no sense, but I've always been a bit...
by WorkToLive
Fri Jul 08, 2016 9:51 am
Forum: Personal Consumer Issues
Topic: Sinking funds - where to hold?
Replies: 18
Views: 1749

Re: Sinking funds - where to hold?

For some reason, my work blocks the Bogleheads Wiki page, but these funds are mini savings accounts that I contribute to monthly. Some are for regular expenses, such as auto repair (tires, oil changes, etc.) and medical, while others are for upcoming vacations and my emergency fund. Once those funds...
by WorkToLive
Fri Jul 08, 2016 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Encouragement - Debt pay down
Replies: 17
Views: 1661

Re: Encouragement - Debt pay down

What helped me as we were chewing our way through our debt was having a plan that allocated each and every dollar to a purpose. That enabled us to see where our priorities were and if we wanted to adjust. I had a great paydown calculator from vertex42.com that allowed me to see how each extra paymen...
by WorkToLive
Fri Jul 08, 2016 9:25 am
Forum: Personal Consumer Issues
Topic: Sinking funds - where to hold?
Replies: 18
Views: 1749

Sinking funds - where to hold?

I have a solid budget with a set of sinking funds listed below. Currently, this money is in a savings account earning less than .1% interest. Would you move it? If so, how much would you move and where would you put it? Sinking fund name (Cap, if any) amount in fund Emergency Fund (10,000) 10,000.00...
by WorkToLive
Fri Jun 10, 2016 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off the mortgage today
Replies: 67
Views: 6873

Re: Paid off the mortgage today

Congratulations! It's been three years almost to the day for us and we have no regrets.
by WorkToLive
Sat May 07, 2016 6:03 pm
Forum: Personal Consumer Issues
Topic: Kids gadget usage restrictions
Replies: 7
Views: 829

Re: Kids gadget usage restrictions

DD is 10 and has always had limited screen time. It's generally 30 mins per day. We recently took away that privilege because she was in the habit of lying about her work being completed. I am convinced that screen time makes her cranky and moody and bratty. Of course I want her to be integrated wit...
by WorkToLive
Tue Apr 05, 2016 4:02 pm
Forum: Investing - Help with Personal Investments
Topic: Thought I was on the right track, but apparently not
Replies: 60
Views: 5462

Re: Thought I was on the right track, but apparently not

I ran a firecalc scenario for you and came up with a 98.8% success rate if you plan to spend $80,000 in retirement. That's spending including taxes. Assumptions: --Save $21k/year --Retire at 67 --Die at 95 --Each get $15,000 per year in Soc Security --65% stock portfolio You can live on $80k/year, b...
by WorkToLive
Mon Apr 04, 2016 11:52 am
Forum: Investing - Help with Personal Investments
Topic: I-ORP Contributions
Replies: 3
Views: 416

Re: I-ORP Contributions

If you told i-orp that your returns in the taxable account are always higher than in your other accounts, it may always suggest that you contribute to the account that earns the mostest. It may also suggest that you do withdrawals from the account with the highest returns last. A work-around might ...
by WorkToLive
Mon Apr 04, 2016 7:58 am
Forum: Investing - Help with Personal Investments
Topic: I-ORP Contributions
Replies: 3
Views: 416

I-ORP Contributions

I-ORP is telling me to contribute to my taxable accounts in lieu of my tax-deferred accounts. Why would it be saying this? Is it because the capital gains tax will be less than my projected Fed/State tax rates? I'd sure hate to pay all those taxes now, but should I alter course? My salary (age 42): ...
by WorkToLive
Sun Mar 27, 2016 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: Investing strategy for inheritance
Replies: 6
Views: 978

Re: Investing strategy for inheritance

Retirement should be prioritized over college savings. How does your retirement look at the moment? Have you run multiple calculators to validate your strategy? If so, and retirement is in good shape, I would consider contributing to the 529. If not, I would probably shove it in a taxable account an...
by WorkToLive
Sat Feb 20, 2016 9:15 am
Forum: Investing - Help with Personal Investments
Topic: Forms needed to file 2015 taxes?
Replies: 5
Views: 588

Re: Forms needed to file 2015 taxes?

Thanks, livesoft. Here is the set of instructions from https://www.irs.gov/instructions/i8606/ch01.html#d0e476 that I believe apply to me. "You made a contribution to a Roth IRA and later recharacterized part or all of it in a trustee-to-trustee transfer to a traditional IRA. Report the nondedu...
by WorkToLive
Sat Feb 20, 2016 7:38 am
Forum: Investing - Help with Personal Investments
Topic: Forms needed to file 2015 taxes?
Replies: 5
Views: 588

Forms needed to file 2015 taxes?

I realized in January that my 2015 AGI would disallow the Roth contributions I made for me and my spouse. I recharacterized these amounts to new Traditional IRAs in January 2015. Then, I made a post-tax Traditional IRA contribution to my new IRA. In February, I rolled my existing Rollover IRA into m...
by WorkToLive
Fri Feb 12, 2016 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with $13 of hobby money?
Replies: 54
Views: 3032

Re: What to do with $13 of hobby money?

I would use it to buy something for your hobby that you might not otherwise buy due to cost.
by WorkToLive
Thu Feb 04, 2016 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited a home, any tax benefits?
Replies: 30
Views: 1684

Re: Inherited a home, any tax benefits?

I really know very little about this, but is there any value in setting this up as a true rental property, gifting your Step-Mother the amount of annual rent, then having her pay you rent with that money?
by WorkToLive
Thu Jan 21, 2016 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Contributing to Traditional IRA in preparation for back-door Roth Conversion
Replies: 10
Views: 766

Re: Contributing to Traditional IRA in preparation for back-door Roth Conversion

I agree with Alan S, that you can contribute to Traditional IRA for 2016 and then convert everything to Roth IRA this year. I would not suggest waiting to convert. Contribute now for 2016 and when that transaction posts, convert everything to Roth IRA. You will have 11,000 IRA basis after you contr...
by WorkToLive
Thu Jan 21, 2016 10:38 pm
Forum: Investing - Help with Personal Investments
Topic: Contributing to Traditional IRA in preparation for back-door Roth Conversion
Replies: 10
Views: 766

Re: Contributing to Traditional IRA in preparation for back-door Roth Conversion

You can make a new 2016 TIRA contribution and then convert the total of your 2015 and 2016 contributions to a Roth IRA. How much is your recharacterized Roth contribution worth now, and is it in a different TIRA account than the rollover? Thank you, Alan. My recharacterized 2015 Roth contribution i...
by WorkToLive
Wed Jan 20, 2016 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: Contributing to Traditional IRA in preparation for back-door Roth Conversion
Replies: 10
Views: 766

Contributing to Traditional IRA in preparation for back-door Roth Conversion

So, I've got everything kicked off to roll my Rollover IRA into my 401(k) plus I have a brand-new POST-tax Traditional IRA from my recharacterized Roth IRA 2015 contribution. Since I expect to be able to convert my post-tax Traditional IRA to my Roth IRA, is it OK to make a regular contribution to m...
by WorkToLive
Thu Jan 14, 2016 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2015 Premier vs. Deluxe
Replies: 8
Views: 2066

Re: TurboTax 2015 Premier vs. Deluxe

Thanks, all!
by WorkToLive
Tue Jan 12, 2016 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax 2015 Premier vs. Deluxe
Replies: 8
Views: 2066

TurboTax 2015 Premier vs. Deluxe

I'm looking for a straight and definitive answer to the question of whether TurboTax 2015 Deluxe will do Schedules C and D in interview mode with downloaded financial data, or whether that requires Premier.

Thank you!
by WorkToLive
Tue Jan 12, 2016 10:32 am
Forum: Investing - Help with Personal Investments
Topic: Rollover to Open Backdoor Roth IRA
Replies: 5
Views: 609

Re: Rollover to Open Backdoor Roth IRA

I ended up coming to the same conclusion as House Blend. First, I will transfer my Rollover IRA from Vanguard to Fidelity. Then, Fidelity says they can convert that new Rollover IRA into the 401(k). The Fidelity rep misled me and said I had to have a cash position at Vanguard, so I sold all my share...
by WorkToLive
Mon Jan 11, 2016 8:16 am
Forum: Investing - Help with Personal Investments
Topic: Rollover to Open Backdoor Roth IRA
Replies: 5
Views: 609

Rollover to Open Backdoor Roth IRA

Hi, I recently discovered that my 2015 AGI is too high and both my and my spouse's Roth IRA regular contributions are disallowed. Both of us have existing Traditional IRAs, mine with approximately $280k and his with $70k. While my husband has a employer-based SIMPLE IRA that cannot accept contributi...
by WorkToLive
Sat Jan 02, 2016 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Target 2016?
Replies: 168
Views: 12086

Re: Savings % Target 2016?

Aiming for 25% of gross here.
by WorkToLive
Wed Nov 25, 2015 12:56 pm
Forum: Personal Consumer Issues
Topic: Which Michelin Tire?
Replies: 19
Views: 1691

Re: Which Michelin Tire?

This is timely!

I just put a set of Defenders on my CR-V and a set of Premier A/S on my Fit. I like both, but I prefer the Defenders. I'm getting better mileage and I like that they will last longer. They also feel good.
by WorkToLive
Sun Nov 22, 2015 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Divorce Poll. What percentage of BH are divorced?
Replies: 13
Views: 2214

Re: Divorce Poll. What percentage of BH are divorced?

Never divorced. Married 13 years. Both age 41. One kid also helped us keep spending down. Neither of us spends profligately. DH spends more than I do, though.
by WorkToLive
Thu Nov 12, 2015 11:23 am
Forum: Personal Finance (Not Investing)
Topic: HSA Employee + Employer Contribution Limit
Replies: 6
Views: 546

Re: HSA Employee + Employer Contribution Limit

Yes, I also agree that it counts, but can someone find this information on the IRS.gov website? I tried looking for 1/2 hour with no luck. I don't want to go to HR unless I have proof. HR rep told me that employer contribution can exceed the limit, just like 401k contributions. I don't believe it's ...
by WorkToLive
Thu Nov 12, 2015 11:03 am
Forum: Personal Finance (Not Investing)
Topic: HSA Employee + Employer Contribution Limit
Replies: 6
Views: 546

HSA Employee + Employer Contribution Limit

Does the HSA Contribution Limit apply to the full amount of employee AND employer contributions? I can't find the IRS statement that clarifies this. Example, employee elects to contribute $6,750 to a 2016 HSA. Employer offers $900 of incentives in the form of HSA contributions throughout 2016. If th...

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