Search found 503 matches

by WorkToLive
Thu Feb 04, 2016 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited a home, any tax benefits?
Replies: 30
Views: 1264

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: 581

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: 581

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: 581

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: 1534

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: 1534

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: 363

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: 363

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: 8778

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: 1122

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: 1679

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: 355

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: 355

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...
by WorkToLive
Sun Oct 25, 2015 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Throwing in the Towel (paying off mortgage)
Replies: 21
Views: 2094

Re: Throwing in the Towel (paying off mortgage)

We hunkered down and paid if off just before we turned 40. We did it so that we could afford to cash flow private school for our daughter. The timing has worked out beautifully and we are applying to 5th grade this year after being in Montessori school up to now. I think you need to be certain all y...
by WorkToLive
Fri Oct 16, 2015 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Saving for college in the 15% bracket
Replies: 23
Views: 1370

Re: Saving for college in the 15% bracket

My understanding is that home equity is not counted in financial aid calculations so by putting that money into home equity, you are essentially hiding it from aid calculations. This may increase the amount of aid you qualify for if you do not have that money in counted assets.
by WorkToLive
Fri Jul 17, 2015 12:33 pm
Forum: Personal Consumer Issues
Topic: Baby on the way...yay! Big ticket items, and what do you REALLY need?
Replies: 82
Views: 5431

Re: Baby on the way...yay! Big ticket items, and what do you REALLY need?

Just get a cheapie crib and buy a twin bed later on. Cloth diapers are awesome, but you can go nuts with them and spend lots of :moneybag :moneybag . If you choose cheaper types like prefolds, you will you definitely save money. If the child is breastfed, the poo can just go right into the washing m...
by WorkToLive
Thu Jul 16, 2015 1:05 pm
Forum: Investing - Help with Personal Investments
Topic: Purchasing fund within Roth IRA
Replies: 5
Views: 388

Re: Purchasing fund within Roth IRA

Thanks, I figured. I guess otherwise the gain would never be taxed.
by WorkToLive
Thu Jul 16, 2015 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: Purchasing fund within Roth IRA
Replies: 5
Views: 388

Purchasing fund within Roth IRA

Hi,

If I have the VFIAX S&P 500 fund in my taxable account, can I transfer $5500 worth into my Roth IRA for my "contribution" without triggering a taxable sale? I'm guessing not, but I want to verify.

Thanks!
by WorkToLive
Mon Jul 06, 2015 9:56 am
Forum: Forum Issues and Administration
Topic: [Forum running slow]
Replies: 56
Views: 4569

Re: Slow down?

I am having the same experience.
by WorkToLive
Thu Jun 18, 2015 11:53 am
Forum: Personal Consumer Issues
Topic: I'm Giving Up Golf
Replies: 40
Views: 7592

Re: I'm Giving Up Golf

Sending hugs. Life has many seasons. I had to give up ballet at 40 after dancing and teaching for 35 years. It was hard, but I'm adjusting. Find something else you enjoy, maybe something social.
by WorkToLive
Wed Jun 03, 2015 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Quit high paying job to be stay at home parent?
Replies: 44
Views: 5432

Re: Quit high paying job to be stay at home parent?

I was in a similar position in 2005 at age 31. I made $96k and my spouse made $38k. I really wanted to stay home if we had a child, though I always knew I'd return to the workforce. We saved as much as we could, made sure our insurance situation would be OK, then got pregnant and left work the day I...
by WorkToLive
Wed Jun 03, 2015 6:33 am
Forum: Investing - Help with Personal Investments
Topic: Time to reach 1M and 2M milestones
Replies: 74
Views: 13609

Re: Time to reach 1M and 2M milestones

Investable assets of $1M at 30 and $2M at 38-39. I had a head start with leftover college funds of about $250k at age 20 (graduated in 2.5 yrs). Also, have received some cash gifts over the years from my folks. Started maxing out my retirement accounts early and never slowed down. I'm 41 now and clo...
by WorkToLive
Wed May 20, 2015 11:06 am
Forum: Investing - Help with Personal Investments
Topic: What to do with 5M?
Replies: 93
Views: 16499

Re: What to do with 5M?

I just wanted to say congratulations. You've learned a lot and implemented a solid plan. Nice work. :sharebeer
by WorkToLive
Wed May 20, 2015 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Living on last months income.
Replies: 33
Views: 3708

Re: Living on last months income.

I have an annual budget, a cash flow record, and a savings allocation spreadsheet. Working in tandem, I ensure I have enough money for the year (every dollar has a purpose), I do not go negative in my checking account, and I know how much is in each of my savings buckets. This is not exactly the sam...
by WorkToLive
Wed Apr 22, 2015 11:01 am
Forum: Personal Finance (Not Investing)
Topic: What age did your Net Worth first equal 10,000x your Weight?
Replies: 48
Views: 4155

Re: What age did your Net Worth first equal 10,000x your Wei

That's so funny! We are really close to this, a bit over if you count our home equity. It helps that we are pretty skinny people! We are 252# combined and have investments just about $2,200,000.

:sharebeer :sharebeer
by WorkToLive
Tue Apr 21, 2015 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Health Equity HSA - Vanguard Funds (some Admiral)
Replies: 3
Views: 962

Re: Health Equity HSA - Vanguard Funds (some Admiral)

Some of this have been discussing this for months. Check out thread:

viewtopic.php?f=1&t=146311
by WorkToLive
Fri Apr 17, 2015 11:10 am
Forum: Investing - Help with Personal Investments
Topic: Cash out a rollover IRA?
Replies: 7
Views: 440

Re: Cash out a rollover IRA?

There is certainly no reason to cash out and then contribute to a Roth IRA. You can simply roll it into a Roth penalty-free, though you have to pay tax. A better option, if you are trying to simplify, is to roll that old IRA into your current 401(k), if that's allowed. Are you trying to free yoursel...
by WorkToLive
Wed Apr 15, 2015 9:24 am
Forum: Personal Consumer Issues
Topic: Vehicle for tall people/Spouse wants 50k car help!
Replies: 77
Views: 7596

Re: Vehicle for tall people/Spouse wants 50k car help!

I believe there is an issue installing three carseats in a Toyota 4Runner. Please check that before you purchase if you intend to have three kids. Kids are in boosters until age 8+ now, so you need to plan for this.
by WorkToLive
Mon Mar 23, 2015 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Budget ? [Household budget, how to manage gap in income?]
Replies: 8
Views: 1387

Re: Budget ?

I am married to a teacher who receives a paycheck 10 months a year. I have two spreadsheets that manage this for me. One is an annual budget that allocates my money across all income, savings, and expenses. At the bottom of each month, I have a total surplus or deficit, but the overall year is budge...
by WorkToLive
Thu Mar 19, 2015 11:45 am
Forum: Personal Finance (Not Investing)
Topic: job offer, 2x salary
Replies: 53
Views: 5328

Re: job offer, 2x salary

I suppose I might be in the minority, but I absolutely abhor commuting and, since I know I'm set for retirement at 55, I only take jobs with 30 mins or less commute. What's your thoughts on spending 2-3 hours a day in the car?
by WorkToLive
Tue Mar 17, 2015 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Another Mortgage vs Investing Q
Replies: 15
Views: 1667

Re: Another Mortgage vs Investing Q

I was in a similar place a few years ago and decided to pay it down. Took me 3.5 years, but it's been gone for almost two years now. No regrets here. Only thing that might make me pause is a need to replace a car soon.
by WorkToLive
Mon Mar 16, 2015 1:24 pm
Forum: Investing - Help with Personal Investments
Topic: Credit Report Very Low For No Reason? Fixing it?
Replies: 60
Views: 4061

Re: Credit Report Very Low For No Reason? Fixing it?

If you check your credit report, you may find out. :wink:

I just took 10 minutes and checked mine--so thanks for the reminder.
by WorkToLive
Mon Mar 16, 2015 9:54 am
Forum: Investing - Theory, News & General
Topic: John Bogle's Don't Peek Challenge
Replies: 149
Views: 14869

Re: John Bogle's Don't Peek Challenge

I've been trying to cut down on looking at my portfolio, mainly because it feels like a waste of time. However, there are so many changes that I do have to keep track. I also import everything in Quicken and see my net worth at least weekly. I like the idea, though.
by WorkToLive
Thu Mar 05, 2015 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: If you have $1 million...
Replies: 65
Views: 7216

Re: If you have $1 million...

I can't really answer your poll because I don't relate to either option. We purchased two new Hondas in 2009 and 2010 because our old cars were 16 years old (1993 and 1994) and were starting to break down. We bought the Honda Fit new because the used models did not have ESC, which CR recommends stro...
by WorkToLive
Thu Feb 05, 2015 10:56 am
Forum: Personal Consumer Issues
Topic: What to buy sweetie for Valentine's Day
Replies: 97
Views: 6645

Re: What to buy sweetie for Valentine's Day

what about a Pajamagram? They will send pajamas of your choice to your sweetie. As a woman, I would find this thoughtful and practical.

http://www.pajamagram.com/?tracking=900 ... gQodNU8A8w
by WorkToLive
Thu Jan 29, 2015 1:24 pm
Forum: Personal Consumer Issues
Topic: What age did you move out?
Replies: 117
Views: 6341

Re: What age did you move out?

Graduated college in 2.5 years, lived at home while I did my Master's program for another 1.5 years. I lived at home for one more year because I didn't make enough to move out, then got a better job followed by an apartment, and moved out at age 23.
by WorkToLive
Wed Jan 28, 2015 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard and Turbo Tax
Replies: 38
Views: 5727

Re: Vanguard and Turbo Tax

Help! I initially "purchased" then downloaded TT Deluxe. When I realized I needed Premier, I went back through Vanguard, "purchased" then downloaded Premier. I uninstalled TT Deluxe from my desktop and installed TT Premier. I was able to open my return, but when I try to go to my...
by WorkToLive
Wed Jan 28, 2015 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: How to set up an HSA account? (for a first time user)
Replies: 7
Views: 767

Re: How to set up an HSA account? (for a first time user)

Your plan sounds fine to me. Some think that HSA investing should come before 401(k) because it is payroll tax free. If it were me, I'd probably contribute to my match in the 401(k), then max out the HSA, then fill up my Roth, then finish my 401(k).
by WorkToLive
Wed Jan 28, 2015 12:54 pm
Forum: Investing - Help with Personal Investments
Topic: How to set up an HSA account? (for a first time user)
Replies: 7
Views: 767

Re: How to set up an HSA account? (for a first time user)

What's your max out of pocket for the insurance? I'd probably contribute the max OOP and then simply adjust the next year based on what you spent. If you want to pick a bond fund or something to invest the amount over $1000, I think that would be fine.
by WorkToLive
Tue Jan 27, 2015 9:44 pm
Forum: Investing - Help with Personal Investments
Topic: How to set up an HSA account? (for a first time user)
Replies: 7
Views: 767

Re: How to set up an HSA account? (for a first time user)

Most custodians require a certain cash balance prior to investing. Find out what yours allows. Figure out what investments are options and then post back here.
by WorkToLive
Tue Jan 27, 2015 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Poll: Locating deceased person's assets
Replies: 33
Views: 2469

Re: Poll: Locating deceased person's assets

I have desktop Quicken where all our accounts are listed. While it wouldn't be super easy to sort everything out, it's a comprehensive list of all our assets. In addition to Quicken, I have a MS Word file that I update once a year with life insurance, will, bank, and investment information. I've als...
by WorkToLive
Mon Jan 26, 2015 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard and Turbo Tax
Replies: 38
Views: 5727

Re: Vanguard and Turbo Tax

I tried multiple times yesterday and today to click the link "Save now on TurboTax" on the Vanguard TurboTax webpage. I received an error saying something like "There was an unexpected error. Please try again later." I kept trying and finally got through. Once I did, I clicked De...
by WorkToLive
Sun Jan 25, 2015 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Upgrading to TurboTax Premier through Vanguard
Replies: 2
Views: 415

Re: Upgrading to TurboTax Premier through Vanguard

Thanks, winterescape. I'll do that :happy
by WorkToLive
Sun Jan 25, 2015 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Upgrading to TurboTax Premier through Vanguard
Replies: 2
Views: 415

Upgrading to TurboTax Premier through Vanguard

I need some help. I originally downloaded TurboTax Deluxe and began my 2014 tax return in it. Then I realized I need TurboTax Premier. I am a Vanguard Flagship customer so I see I can get Premier for free. My question is how do I upgrade? Do I go through the Vanguard portal or through TT? Thanks for...
by WorkToLive
Wed Jan 21, 2015 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you pay off your "forever" home
Replies: 52
Views: 4755

Re: What age did you pay off your "forever" home

Ages 39 me and 38 husband.
by WorkToLive
Mon Jan 12, 2015 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle defaulted debts and current student loans?
Replies: 59
Views: 3301

Re: How to handle defaulted debts and current student loans?

You have $1,751 of debt in collections from last year that you "don't know about"? Sounds like you have bigger issues.
by WorkToLive
Mon Jan 05, 2015 3:15 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 2722
Views: 538228

Re: U.S. stocks in freefall

I had been lazy in contributing to my 2015 Roth. Just submitted the order to buy $5500 of 500 Index Admiral.

But I am NOT timing the market. It just worked out that I had been putting it off. :happy

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