Search found 555 matches

by WorkToLive
Tue Jul 18, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed - Investing, Saving, Debt reduction
Replies: 26
Views: 2093

Re: Advice Needed - Investing, Saving, Debt reduction

My advice is A, for sure, but with an additional caveat. At age 41 (guessing based on your OP), you are vastly underfunded for your retirement. Until you have a solid plan for retirement, college savings needs to be on the back burner. You don't appear to be saving anywhere near the amount you will ...
by WorkToLive
Sat Jul 08, 2017 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Help me with potential new job situation
Replies: 13
Views: 970

Re: Help me with potential new job situation

IME, it's normal to ask for time. Recruiters also will send you benefits information. This is normal stuff! Good luck!!
by WorkToLive
Thu Jul 06, 2017 2:08 pm
Forum: Personal Consumer Issues
Topic: New compact hatchback or used small SUV?
Replies: 17
Views: 1885

Re: New compact hatchback or used small SUV?

What about the new Honda HR-V?
by WorkToLive
Mon Jul 03, 2017 8:18 pm
Forum: Investing - Theory, News & General
Topic: Planet Money episode about the Mutilated Currency Division
Replies: 8
Views: 946

Re: Planet Money episode about the Mutilated Currency Division

I recently used this service on a torn $20 bill I received from an ATM. While it was clearly more than half, no store or bank would accept it. I mailed it in in May, and just got my $20 check from the US Treasury last weekend. Yay for the government doing something well!
by WorkToLive
Wed Jun 28, 2017 1:59 pm
Forum: Personal Consumer Issues
Topic: Do you buy phone outright or pay it off monthly...
Replies: 62
Views: 3394

Re: Do you buy phone outright or pay it off monthly...

I pay monthly because my employer reimburses up to $75/mo and I have my bill at $74.75 so my phone is being paid for by my employer.
by WorkToLive
Wed Jun 28, 2017 10:23 am
Forum: Personal Consumer Issues
Topic: Cellular Data Usage
Replies: 11
Views: 916

Re: Cellular Data Usage

Is it possible Location Services is using data? Could you try disabling Location Services?
by WorkToLive
Sun Jun 25, 2017 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: irrevocable trust for children receiving an inheritance
Replies: 54
Views: 4090

Re: irrevocable trust for children receiving an inheritance

What, specifically, are you worried about the grandchildren doing? Are they drug addicts? How old are they now? Are there reasons to believe it is a terrible idea to follow the trust guidance, which is to distribute the assets at age 30, if I understand correctly? I am having trouble understanding y...
by WorkToLive
Fri Jun 09, 2017 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: (Very) Early Retirement vs Parenthood
Replies: 74
Views: 4801

Re: (Very) Early Retirement vs Parenthood

Anyone who does not wish to have their life as they know it come to an end should not have a child. That said, my husband and I decided to have one child in our early 30s and are now 12 years away from that decision. We do not regret our decision to have our daughter in any way however, it is a very...
by WorkToLive
Tue Jun 06, 2017 7:40 pm
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 31
Views: 2221

Re: Investment Advice

Please forgive my ignorance, I understand the mortgage interest but where did you get the estimated $8,000 for tax free insurance? Is that adding estimated costs of home owners, flood, health, etc? I meant workplace insurance, mainly health insurance. Those deductions come from your paycheck and ar...
by WorkToLive
Tue Jun 06, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Employer over contribution to SIMPLE IRA
Replies: 9
Views: 813

Re: Employer over contribution to SIMPLE IRA

It turned out they coded the extra money as an Employer Contribution so I could have shut my mouth, but instead I told the company and they are making plans to withdraw the overcontribution. I can sleep with myself at night.
by WorkToLive
Tue Jun 06, 2017 5:16 am
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 31
Views: 2221

Re: Investment Advice

You can almost certainly get under the Roth contribution limit if you max out your and her tax-deferred plan options. That's $36,000 between you. From gross $202,000 less $36,000 less $8,000 for tax free insurance (est.) less $5000 mortgage interest (est.), comes to $153,000, well under the MFJ $184...
by WorkToLive
Tue Jun 06, 2017 5:03 am
Forum: Personal Consumer Issues
Topic: Broken Honda Accord key 2009
Replies: 11
Views: 952

Re: Broken Honda Accord key 2009

Having recently went through this I have some advice for you. First, is the electronic doodad inside still functioning? If so, take that and the old key to a locksmith and they can help you. The dealer is a total rip off and this Is what the mechanic told me to do for next time.
by WorkToLive
Fri May 26, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Employer over contribution to SIMPLE IRA
Replies: 9
Views: 813

Re: Employer over contribution to SIMPLE IRA

Thank you. That's a perfect approach. I want to fix this by mid-June. Company is completely unresponsive and DH is leaving employment effective June 15, 2017.
by WorkToLive
Fri May 26, 2017 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Employer over contribution to SIMPLE IRA
Replies: 9
Views: 813

Re: Employer over contribution to SIMPLE IRA

But this isn't his money! They did it by accident. Account is with Fidelity. Should I call Fidelity?
by WorkToLive
Fri May 26, 2017 5:00 am
Forum: Personal Finance (Not Investing)
Topic: Employer over contribution to SIMPLE IRA
Replies: 9
Views: 813

Re: Employer over contribution to SIMPLE IRA

$12,500 was withheld from EE paycheck
$14,500 was deposited as designated EE contributions

Match was 3% and designated separately.

ER will not withdraw excess $2,000 contributions despite repeated requests because they are lazy and unresponsive.
by WorkToLive
Thu May 25, 2017 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Employer over contribution to SIMPLE IRA
Replies: 9
Views: 813

Employer over contribution to SIMPLE IRA

My husband's employer maintains a SIMPLE IRA. The employer accidentally contributed an extra $2000 to his account over the $12,500 payroll withholdings he had made to date for a total of $14,500. Despite repeated attempts to get the employer to correct the problem, they have not yet done so. Is ther...
by WorkToLive
Tue May 23, 2017 5:05 am
Forum: Investing - Help with Personal Investments
Topic: Can you still do backdoor Roth with SIMPLE-IRA plan?
Replies: 7
Views: 694

Re: Can you still do backdoor Roth with SIMPLE-IRA plan?

I understand and have been in the same position. DH is finally moving to a job with a 403b so we will be able to roll his SIMPLE to his new 403b and open the backdoor. I've queued up 2-3 years of basis in his tIRA for conversion next year.
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: 3531

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: 3531

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: 7261

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: 30030

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: 30030

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: 500

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: 500

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: 500

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: 2433

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: 1194

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: 1054

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: 31028

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: 2862

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: 2862

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: 795

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: 1427

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: 357

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: 423

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: 658

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 ). 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 and I'm ...
by WorkToLive
Fri Aug 05, 2016 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Understanding gift tax....
Replies: 11
Views: 1223

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. m Exclusions --The annual exclusio...
by WorkToLive
Thu Aug 04, 2016 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should I refinance w/ Aimloan?
Replies: 25
Views: 2513

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: 3315

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: 1942

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: 1722

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: 1942

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: 7346

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: 884

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: 5560

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: 461

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: 461

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: 1015

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: 612

Re: Forms needed to file 2015 taxes?

Thanks, livesoft. Here is the set of instructions from m 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 nondeductible traditional IRA portion of the recharacterized ...